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interest expense | Interest expense was $29.4 million in the six months ended June 30, 2019 compared to $17.8 million in the six months ended June 30, 2018. | Consolidated Income Statement |
interest expense | Interest expense was $29.4 million in the six months ended June 30, 2019 compared to $17.8 million in the six months ended June 30, 2018. | Consolidated Income Statement |
interest expense | Interest expense was $29.4 million in the six months ended June 30, 2019 compared to $17.8 million in the six months ended June 30, 2018. | Consolidated Income Statement |
interest expense; net | Interest expense, net was $21.8 million in the year ended December 31, 2014 compared to $8.9 million in the year ended December 31, 2013, an increase of $12.9 million, or 144.6%. | Consolidated Income Statement |
interest income | Interest income was $17.7 million in the year ended December 31, 2023, compared to $5.0 million in the year ended December 31, 2022. | Consolidated Income Statement |
investment; by $ 100 | The graph and table assume $100 invested at the closing price of $16.00 on August 6, 2015. | Unit Economics |
investment; by $ 100 | The graph and table assume $100 invested at the closing price of $16.00 on August 6, 2015. | Unit Economics |
legally binding minimum lease payments; excluded from operating lease payments | As of December 31, 2023, operating lease payments exclude approximately $48,010 of legally binding minimum lease payments for leases signed but not yet commenced. | Detail |
liability; payable to the Direct TSG Investors and the TRA Holders | Accordingly, we have recorded a liability of $488.2 million, payable to the Direct TSG Investors and the TRA Holders under the tax benefit obligations, representing approximately 85% of the calculated tax savings based on the original basis adjustments we anticipate being able to utilize in future years. | Taxes |
liability; payable to TRA Holders | Accordingly, as of December 31, 2023 the Company has recorded a liability of $495,662 payable to the TRA Holders under the tax benefit obligations, representing approximately 85% of the calculated expected tax savings based on the original basis adjustments the Company anticipates being able to utilize in future years. | Taxes |
long-lived assets; international corporate-owned | The table above includes $3,609 and $916 of long-lived assets located in the Company’s international corporate-owned stores as of December 31, 2023 and 2022, respectively. | Balance Sheet |
long-lived assets; international corporate-owned stores | The table above includes $867 and $1,039 of long-lived assets located in the Company’s international corporate-owned stores as of June 30, 2020 and December 31, 2019, respectively. | Balance Sheet |
maximum commitment under these agreements | Our maximum total commitment under these agreements is approximately $1.4 million and would only require payment upon default by the primary obligor. | unknown |
maximum obligation; due to guarantees of leases | The Company’s maximum obligation, as a result of its guarantees of leases, is approximately $5,215 and $5,942 as of December 31, 2023 and 2022, respectively, and would only require payment upon default by the primary obligor. | Balance Sheet |
maximum obligation; due to guarantees of leases and debt | The Company’s maximum obligation, as a result of its guarantees of leases and debt, is approximately $1,350 and $1,871 as of December 31, 2016 and 2015, respectively. | Balance Sheet |
members | As of December 31, 2022, we had approximately 17.0 million members. | Unit Economics |
same store sales; corporate-owned and franchisee-owned | The key measures for determining how our business is performing include total monthly dues and annual fees from members (which we refer to as system-wide sales), the number of new store openings, same store sales for both corporate-owned and franchisee-owned stores, average royalty fee percentages for franchisee-owned stores, monthly PF Black Card membership penetration percentage, EBITDA, Adjusted EBITDA, Segment EBITDA, four-wall EBITDA, royalty adjusted four-wall EBITDA, Adjusted net income, and Adjusted net income per share, diluted. | Unit Economics |
monthly membership dues; for PF Black Card members | • monthly membership dues of only $10 for our standard membership or, approximately $21.99 for PF Black Card members; | Unit Economics |
monthly dues; paid by EFT | As of December 31, 2021, over 90% of our members paid their monthly dues by EFT, while the remainder prepaid annually in advance. | Unit Economics |
monthly membership dues; for PF Black Card members | • monthly membership dues of only $10 for our standard membership or, approximately $21.99 for PF Black Card members; | Unit Economics |
new member joins; online | In addition, we rely on third-party suppliers to manage and maintain our websites and online join processes, and in 2023 approximately 81% of our new members joined either online through our websites or through our mobile application. | Unit Economics |
non-securitized indebtedness; cap | The Securitized Senior Notes are subject to covenants and restrictions customary for transactions of this type, including (i) that the Master Issuer maintains specified reserve accounts to be used to make required payments in respect of the Securitized Senior Notes, (ii) provisions relating to optional and mandatory prepayments and the related payment of specified amounts, including specified make-whole payments in the case of the Notes under certain circumstances, (iii) certain indemnification payments in the event, among other things, the assets pledged as collateral for the Securitized Senior Notes are in stated ways defective or ineffective, (iv) a cap on non-securitized indebtedness of $50,000 (provided that the Company may incur non-securitized indebtedness in excess of such amount, subject to the leverage ratio cap described below, under certain conditions, including if the relevant lenders execute a non-disturbance agreement that acknowledges the bankruptcy-remote status of the Master Issuer and its subsidiaries and of their respective assets), (v) a leverage ratio cap incurrence test on the Company of 7.0x (calculated without regard for any indebtedness subject to the $50,000 cap) and (vi) covenants relating to recordkeeping, access to information and similar matters. | Balance Sheet |
office space; leased; Hampton, New Hampshire | Our corporate headquarters is located in Hampton, New Hampshire and consists of approximately 71,700 sq. ft. of leased office space. | unknown |
open purchase orders; related to equipment to be sold to franchisees | In addition, the Company had open purchase orders of approximately $22,019 primarily related to equipment to be sold to franchisees. | Unit Economics |
operating expenses | These services include accounting, information technology, data processing, product development, legal and administrative support, and other operating expenses, which amounted to $1,997, $793 and $2,177 for the years ended December 31, 2021, 2020 and 2019, respectively. | Consolidated Income Statement |
operating geographies | We and our franchisees currently operate stores in 47 states, Puerto Rico, Canada and the Dominican Republic, and we and our franchisees | Unit Economics |
operating geographies; Planet Fitness | With more than 1,000 locations in 47 states, the District of Columbia, Puerto Rico, and Canada, Planet Fitness’ mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which we call the Judgement Free Zone®. | Unit Economics |
other loss | Other loss was $5.1 million in the year ended December 31, 2022 compared to $15.1 million in the year ended December 31, 2021. | Consolidated Income Statement |
other loss | Other loss was $5.1 million in the year ended December 31, 2022 compared to $15.1 million in the year ended December 31, 2021. | Consolidated Income Statement |
outstanding debt; Master Issuer | Under the Indenture, Master Issuer has approximately $1.7 billion of outstanding debt as of December 31, 2019. | Balance Sheet |
ownership interest; Pla-Fit Holdings | • the Continuing LLC Owners collectively owned 12,681,728 Holdings Units, representing 12.9% of the economic interest in Pla-Fit Holdings and 12,681,728 shares of our Class B common stock, representing 12.9% of the voting power in the Company. | Capital Structure |
ownership interest; Pla-Fit Holdings; by Continuing LLC Owners | •the Continuing LLC Owners collectively hold 1,397,167 Holdings Units, representing 1.6% of the economic interest in Pla-Fit Holdings and 1,397,167 shares of our Class B common stock, representing 1.6% of the voting power in the Company; | Capital Structure |
payable to related parties; tax benefit arrangements | As of December 31, 2016, the Company had $419,071 payable to related parties pursuant to tax benefit arrangements, see Note 15. | Capital Structure |
payment; under tax receivable agreements | For example, if we had elected to terminate the tax receivable agreements as of December 31, 2015, based on a share price of $15.63 per share of our Class A common stock (based on the closing price of our Class A common stock on the New York Stock Exchange as of December 31, 2015) and a discount rate equal to 2.1%, we estimate that we would have been required to pay $576.0 million in the aggregate under the tax receivable agreements. | Taxes |
payment; to Planet Fitness stores; from company; amenity tracking compliance software | A member of the Company’s board of directors, who is also a franchisee, holds an approximate 10.5% ownership of a company that sells amenity tracking compliance software to Planet Fitness stores to which the Company made payments of approximately $196 and $222, during the years ended December 31, 2020 and 2019, respectively. | Unit Economics |
PF Black Card members; as % of total membership | Since 2012, our PF Black Card members as a percentage of total membership has increased from 45% in 2012 to 59% in 2016, and our average monthly dues per member have increased from $14.49 to $15.79 over the same period. | Unit Economics |
PF Black Card membership; access to all stores system-wide | And, for approximately $22.99 per month, our PF Black Card members have access to all of our stores system-wide and can bring a guest on each visit, which provides an additional opportunity to attract new members. | Unit Economics |
placement revenue | Included in franchise revenue is royalty revenue of $46.2 million, franchise and other fees of $15.8 million, and placement revenue of $9.8 million for the year ended December 31, 2015, compared to royalty revenue of $32.7 million, franchise and other fees of $16.8 million, and placement revenue of $8.5 million for the year ended December 31, 2014. | Segment Financials |
purchase obligations; open purchase orders; related to equipment to be sold to franchisees | (4)Purchase obligations consists of $22.0 million for open purchase orders primarily related to equipment to be sold to franchisees. | Segment Financials |
restricted cash held by Trustee | As of December 31, 2021, the Company had restricted cash held by the Trustee of $42,024. | Balance Sheet |
revenue; corporate-owned stores segment | Revenue from our corporate-owned stores segment was $449.3 million in the year ended December 31, 2023, compared to $379.4 million in the year ended December 31, 2022, an increase of $69.9 million, or 18.4%. | Segment Financials |
revenue; corporate-owned stores segment | Revenue from our corporate-owned stores segment was $449.3 million in the year ended December 31, 2023, compared to $379.4 million in the year ended December 31, 2022, an increase of $69.9 million, or 18.4%. | Segment Financials |
revenue; corporate-owned stores segment | Revenue from our corporate-owned stores segment was $449.3 million in the year ended December 31, 2023, compared to $379.4 million in the year ended December 31, 2022, an increase of $69.9 million, or 18.4%. | Segment Financials |
revenue; equipment segment | Equipment segment revenue was $251.5 million in the year ended December 31, 2019, compared to $210.2 million in the year ended December 31, 2018, an increase of $41.4 million, or 19.7%. | Segment Financials |
revenue; equipment segment | Equipment segment revenue was $251.5 million in the year ended December 31, 2019, compared to $210.2 million in the year ended December 31, 2018, an increase of $41.4 million, or 19.7%. | Segment Financials |
revenue; equipment segment | Equipment segment revenue was $251.5 million in the year ended December 31, 2019, compared to $210.2 million in the year ended December 31, 2018, an increase of $41.4 million, or 19.7%. | Segment Financials |
revenue; franchise; from placement services | Franchise revenue includes revenue generated from placement services of $9,968, $6,918, and $17,755 for the years ended December 31, 2021, 2020 and 2019, respectively. | Segment Financials |
revenue; from this source | This source of revenue comprised 26%, 28%, and 30% of our total revenue for the years ended December 31, 2017, 2016 and 2015, respectively. | unknown |
revenue; national advertising fund | National advertising fund revenue was $58.1 million in the year ended December 31, 2022, compared to $52.4 million in the year ended December 31, 2021, an increase of $5.7 million, or 10.9%. | Segment Financials |
revenues | Total revenues were $406.6 million in 2020, compared to $688.8 million in 2019, a decrease of $282.2 million, or 41.0%. | Consolidated Income Statement |
revenues | Total revenues were $406.6 million in 2020, compared to $688.8 million in 2019, a decrease of $282.2 million, or 41.0%. | Consolidated Income Statement |
revenues | Total revenues were $406.6 million in 2020, compared to $688.8 million in 2019, a decrease of $282.2 million, or 41.0%. | Consolidated Income Statement |
royalty fee; as % of total monthly EFT and annual membership fees; to franchisee base | We have varying royalty fee structures with our franchisee base, ranging from a tiered monthly fee to a royalty of 7.0% of total monthly dues and annual membership fees across our franchisee base. | Unit Economics |
royalty fee; for new franchisees; U.S. and Canada | Our royalty fee has increased over time to a current rate of 5.0% for new franchisees in the U.S. and Canada. | Unit Economics |
royalty fees; from foreign franchisees | • the collection of royalties from foreign franchisees; | Unit Economics |
royalty rate; monthly; as % of monthly dues and annual membership fees | While our current franchise agreement stipulates a monthly royalty rate of 7% of monthly dues and annual membership fees, as of December 31, 2022, only 47% of our stores are paying royalties at the current franchise agreement rate, primarily due to lower rates in historical agreements. | Unit Economics |
royalty revenue | Included in franchise revenue is royalty revenue of $46.2 million, franchise and other fees of $15.8 million, and placement revenue of $9.8 million for the year ended December 31, 2015, compared to royalty revenue of $32.7 million, franchise and other fees of $16.8 million, and placement revenue of $8.5 million for the year ended December 31, 2014. | Segment Financials |
royalty revenue | Included in franchise revenue is royalty revenue of $46.2 million, franchise and other fees of $15.8 million, and placement revenue of $9.8 million for the year ended December 31, 2015, compared to royalty revenue of $32.7 million, franchise and other fees of $16.8 million, and placement revenue of $8.5 million for the year ended December 31, 2014. | Segment Financials |
sales; system; corporate-owned | System-wide sales for 2021 include $3.2 billion attributable to franchisee-owned stores, from which we generate royalty revenue, and $170.7 million attributable to our corporate-owned stores. | Unit Economics |
sales; system; franchisee-owned | System-wide sales for 2021 include $3.2 billion attributable to franchisee-owned stores, from which we generate royalty revenue, and $170.7 million attributable to our corporate-owned stores. | Unit Economics |
sales; system-wide | In 2023, we recorded revenues of $1.1 billion and had system-wide sales of $4.5 billion, which we define as monthly dues and annual fees billed by us and our franchisees. | Unit Economics |
same store sales; corporate-owned | Of the $21.1 million increase, $10.7 million was due to higher revenue from corporate-owned stores newly opened or acquired since January 1, 2018, $6.9 million was from higher same store sales from corporate-owned stores which increased 6.1% in the year ended December 31, 2019, and $4.5 million was attributable to higher revenue from annual fees. | Unit Economics |
same store sales; corporate-owned | Of the $21.1 million increase, $10.7 million was due to higher revenue from corporate-owned stores newly opened or acquired since January 1, 2018, $6.9 million was from higher same store sales from corporate-owned stores which increased 6.1% in the year ended December 31, 2019, and $4.5 million was attributable to higher revenue from annual fees. | Unit Economics |
segment EBITDA margin; corporate-owned stores | In 2021, our corporate-owned stores had a segment EBITDA margin of 29.4% and had average unit volumes (“AUVs”) of approximately $1.6 million with four-wall EBITDA margins (an assessment of store-level profitability which includes local and national advertising expense) of approximately 34.0%, or approximately 26.9% after applying the current 7% royalty rate. | Segment Financials |
Segment EBITDA; corporate-owned stores segment | Segment EBITDA for the corporate-owned stores segment was $36.1 million in the year ended December 31, 2015 compared to $31.7 million in the year ended December 31, 2014, an increase of $4.4 million, or 13.8%. | Segment Financials |
Segment EBITDA; corporate-owned stores segment | Segment EBITDA for the corporate-owned stores segment was $36.1 million in the year ended December 31, 2015 compared to $31.7 million in the year ended December 31, 2014, an increase of $4.4 million, or 13.8%. | Segment Financials |
Segment EBITDA; corporate-owned stores segment | Segment EBITDA for the corporate-owned stores segment was $36.1 million in the year ended December 31, 2015 compared to $31.7 million in the year ended December 31, 2014, an increase of $4.4 million, or 13.8%. | Segment Financials |
Segment EBITDA; equipment segment | Segment EBITDA for the equipment segment was $9.8 million in the three months ended June 30, 2017 compared to $7.9 million in the three months ended June 30, 2016, an increase of $2.0 million, or 24.8%, primarily driven by two more equipment sales to new franchisee-owned stores in the three months ended June 30, 2017 compared to the three months ended June 30, 2016, and by an increase in replacement equipment sales to existing franchisee-owned stores in the three months ended June 30, 2017 compared to the three months ended June 30, 2016. | Segment Financials |
Segment EBITDA; franchise segment | Segment EBITDA for the franchise segment was $66.0 million in the year ended December 31, 2015 compared to $53.1 million in the year ended December 31, 2014, an increase of $12.9 million, or 24.3%. | Segment Financials |
Segment EBITDA; franchise segment | Segment EBITDA for the franchise segment was $66.0 million in the year ended December 31, 2015 compared to $53.1 million in the year ended December 31, 2014, an increase of $12.9 million, or 24.3%. | Segment Financials |
Segment EBITDA; franchise segment | Segment EBITDA for the franchise segment was $66.0 million in the year ended December 31, 2015 compared to $53.1 million in the year ended December 31, 2014, an increase of $12.9 million, or 24.3%. | Segment Financials |
selling, general and administrative expense; corporate travel | For the years ended December 31, 2020, 2019 and 2018, the Company incurred approximately $90, $190 and $0, respectively, which is included within selling, general and administrative expense on the consolidated statements of operations, for corporate travel to a third-party company which is affiliated with our Chief Executive Officer. | Detail |
selling, general and administrative expense; PSUs | During the years ended December 31, 2020 and 2019, a gain of $355 and expense of $355, respectively, was recorded to selling, general and administrative expense related to these PSUs. | Detail |
selling, general and administrative expense; related to stock options | During the years ended December 31, 2021 and 2020, $3,915 and $2,313, respectively, was recorded to selling, general and administrative expense related to stock options. | Detail |
selling, general and administrative expense; RSUs | During the years ended December 31, 2018 and 2017, $1,637 and $184, respectively, was recorded to selling, general and administrative expense related to these RSUs. | Detail |
selling, general and administrative expenses | Selling, general and administrative expenses were $35.1 million in the year ended December 31, 2014 compared to $23.1 million in the year ended December 31, 2013, an increase of $12.0 million, or 51.9%. | Consolidated Income Statement |
selling, general and administrative expenses | Selling, general and administrative expenses were $35.1 million in the year ended December 31, 2014 compared to $23.1 million in the year ended December 31, 2013, an increase of $12.0 million, or 51.9%. | Consolidated Income Statement |
selling, general and administrative expenses | Selling, general and administrative expenses were $35.1 million in the year ended December 31, 2014 compared to $23.1 million in the year ended December 31, 2013, an increase of $12.0 million, or 51.9%. | Consolidated Income Statement |
selling, general and administrative expenses; advertising related to franchise segment | In addition to NAF expenses, advertising related to the franchise segment is included within selling, general and administrative expenses and totaled $3,103, $7,144, and $5,408 for the years ended December 31, 2022, 2021 and 2020, respectively. | Detail |
cash provided by financing activities; net; from long-term debt | The primary drivers of the net cash provided by financing activities in the three months ended March 31, 2022, was $324.6 million of net cash provided from long-term debt, consisting of $975 million of borrowings, $634.3 million of principal payments, and $16.2 million of deferred financing costs incurred. | Segment Financials |
shares; purchased by employees | During the year ended December 31, 2019, employees purchased 23,704 shares and $417 was recorded to expense related to the ESPP. | Capital Structure |
store leases; initial terms | Our store leases typically have initial terms of ten years with two five-year renewal options, exercisable in our discretion. | Unit Economics |
store operation expenses; corporate-owned stores segment | Store operation expenses, which relates to our corporate-owned stores segment, were $57.5 million in the year ended December 31, 2015 compared to $49.5 million in the year ended December 31, 2014, an increase of $8.0 million, or 16.2%. | Segment Financials |
store operation expenses; corporate-owned stores segment | Store operation expenses, which relates to our corporate-owned stores segment, were $57.5 million in the year ended December 31, 2015 compared to $49.5 million in the year ended December 31, 2014, an increase of $8.0 million, or 16.2%. | Segment Financials |
store operation expenses; corporate-owned stores segment | Store operation expenses, which relates to our corporate-owned stores segment, were $57.5 million in the year ended December 31, 2015 compared to $49.5 million in the year ended December 31, 2014, an increase of $8.0 million, or 16.2%. | Segment Financials |
stores | IHRSA data is not yet available for 2018, but Planet Fitness grew its number of stores by 14.8% and its number of members by 17.4% in 2018. | Unit Economics |
stores paying royalties; at current franchise agreement rate | While our current franchise agreement stipulates a monthly royalty rate of 7% of monthly dues and annual membership fees, as of December 31, 2022, only 47% of our stores are paying royalties at the current franchise agreement rate, primarily due to lower rates in historical agreements. | Unit Economics |
stores system-wide | We had 1,313 stores system-wide as of December 31, 2016, of which 1,255 were franchised and 58 were corporate-owned, located in 48 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic. | Unit Economics |
stores; corporate-owned | As of December 31, 2021, we had 112 corporate-owned store locations. | Unit Economics |
stores; corporate-owned | As of December 31, 2021, we had 112 corporate-owned store locations. | Unit Economics |
stores; franchised | As of December 31, 2020 and 2019, the software was being utilized at 101 and 71 corporate-owned stores, respectively, and approximately 599 and 520 franchise stores, respectively. | Unit Economics |
stores; franchisee-owned | The increase was primarily attributable to higher expenses as a result of the acquisition of 16 franchisee-owned stores and the opening of 11 new corporate-owned stores since January 1, 2019, partially offset by lower operating and marketing expenses as a result of COVID-19 related closures beginning in March 2020. | Unit Economics |
stores; franchisee-owned | The increase was primarily attributable to higher expenses as a result of the acquisition of 16 franchisee-owned stores and the opening of 11 new corporate-owned stores since January 1, 2019, partially offset by lower operating and marketing expenses as a result of COVID-19 related closures beginning in March 2020. | Unit Economics |
stores; franchisees | In 2017, our franchisees opened 206 stores, compared to 195 stores in 2016, 206 stores in 2015, and 169 stores in 2014. | Unit Economics |
stores; locations; deemed "low income" | Approximately 25% of our stores are located in areas that the US government deems “low income,” providing an option to improve health and wellness in those underserved locales. | Unit Economics |
stores; operated by franchisee groups | As of December 31, 2015, we had approximately 200 franchisee groups operating 1,066 stores. | Unit Economics |
stores; owned and franchised | Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with approximately 8.9 million members and 1,313 owned and franchised locations (referred to as stores) in 48 states, the District of Columbia, Puerto Rico, the Dominican Republic and Canada as of December 31, 2016. | Unit Economics |
stores; due to another large franchisee group | Our largest franchisee group accounts for approximately 8.2% of our total stores and another large franchisee group accounts for approximately 5.3% of our total stores as of December 31, 2021. | Unit Economics |
stores; owned by franchisee | However, while our largest franchisee owns 49 stores, only 10% of our franchisee groups own more than ten stores. | Unit Economics |
stores; U.S. | Under signed area development agreements (“ADAs”) as of December 31, 2017, our franchisees have committed to open more than 1,000 additional stores. | Unit Economics |
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