XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Revision of Prior Year Immaterial Misstatements and Reclassifications | 12 Months Ended
--- | ---
Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Revision of Prior Year Immaterial Misstatements and Reclassifications | 3. Revision of Prior Year Immaterial Misstatements and Reclassifications During the Company’s preparation of its fiscal year 2017 financial statements, the Company assessed the materiality of certain prior year depreciation expense and income tax misstatements that could have a material impact if corrected in the current year. The misstatement in depreciation expense relates to certain leasehold improvements to which incorrect depreciable lives were assigned. The misstatement in income taxes relates to certain differences in deferred taxes in prior years, partially offset by income taxes payable. The Company has revised its consolidated financial statements as of and for the years ended September 30, 2016 and 2015, and the opening balance of retained earnings as of September 30, 2014. The table below presents the impact of the revision in the Company’s consolidated financial statements:
|  | Fiscal Year Ended September 30, 2016 |  | Fiscal Year Ended September 30, 2015 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Revised |  |  | As Previously Reported |  |  | Adjustments |  |  | As Revised |
Statements of Income/ Comprehensive Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 7,173 |  |  | $ | 155 |  |  | $ | 7,328 |  |  | $ | 6,894 |  |  | $ | 151 |  |  | $ | 7,045 |
Total operating expenses |  |  | 114,012 |  |  |  | 155 |  |  |  | 114,167 |  |  |  | 114,571 |  |  |  | 151 |  |  |  | 114,722 |
Income from operations |  |  | 20,848 |  |  |  | (155 | ) |  |  | 20,693 |  |  |  | 20,878 |  |  |  | (151 | ) |  |  | 20,727 |
Income before income taxes |  |  | 12,997 |  |  |  | (155 | ) |  |  | 12,842 |  |  |  | 14,153 |  |  |  | (151 | ) |  |  | 14,002 |
Income taxes |  |  | 2,657 |  |  |  | (284 | ) |  |  | 2,373 |  |  |  | 5,164 |  |  |  | (53 | ) |  |  | 5,111 |
Net income |  |  | 10,340 |  |  |  | 129 |  |  |  | 10,469 |  |  |  | 8,989 |  |  |  | (98 | ) |  |  | 8,891 |
Net income attributable to RCIHH common shareholders |  |  | 11,089 |  |  |  | 129 |  |  |  | 11,218 |  |  |  | 9,312 |  |  |  | (98 | ) |  |  | 9,214 |
Earnings per share - basic |  | $ | 1.12 |  |  | $ | 0.01 |  |  | $ | 1.13 |  |  | $ | 0.90 |  |  | $ | (0.01 | ) |  | $ | 0.89 |
Earnings per share - diluted |  | $ | 1.10 |  |  | $ | 0.01 |  |  | $ | 1.11 |  |  | $ | 0.90 |  |  | $ | (0.01 | ) |  | $ | 0.89 |
Comprehensive income |  | $ | 10,231 |  |  | $ | 129 |  |  | $ | 10,360 |  |  | $ | 9,007 |  |  | $ | (98 | ) |  | $ | 8,909 |
Comprehensive income attributable to RCI Hospitality Holdings, Inc. |  |  | 10,980 |  |  |  | 129 |  |  |  | 11,109 |  |  |  | 9,330 |  |  |  | (98 | ) |  |  | 9,232 |
|  | September 30, 2016 |
|  | As Previously Reported |  |  | Reclassifications |  |  | Adjustments |  |  | As Revised |
Balance Sheets/Statements of Changes in Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment, net |  | $ | 142,003 |  |  | $ | (503 | ) |  | $ | (427 | ) |  | $ | 141,073 |
Goodwill |  |  | 45,921 |  |  |  | (74 | ) |  |  | - |  |  |  | 45,847 |
Intangibles, net |  |  | 52,189 |  |  |  | 577 |  |  |  | - |  |  |  | 52,766 |
Total assets |  |  | 276,488 |  |  |  | - |  |  |  | (427 | ) |  |  | 276,061 |
Accrued liabilities |  |  | 12,806 |  |  |  | - |  |  |  | 2,580 |  |  |  | 15,386 |
Total current liabilities |  |  | 24,457 |  |  |  | - |  |  |  | 2,580 |  |  |  | 27,037 |
Deferred tax liability |  |  | 25,470 |  |  |  | - |  |  |  | (2,204 | ) |  |  | 23,266 |
Total liabilities |  |  | 146,346 |  |  |  | - |  |  |  | 376 |  |  |  | 146,722 |
Retained earnings |  |  | 62,909 |  |  |  | - |  |  |  | (803 | ) |  |  | 62,106 |
Total RCIHH stockholders’ equity |  |  | 127,558 |  |  |  | - |  |  |  | (803 | ) |  |  | 126,755 |
Total stockholders’ equity |  |  | 130,142 |  |  |  | - |  |  |  | (803 | ) |  |  | 129,339 |
Total liabilities and stockholders’ equity |  |  | 276,488 |  |  |  | - |  |  |  | (427 | ) |  |  | 276,061 |
The net cash provided by or used in operating, investing and financing activities did not change as a result of the revision. Certain components of net cash provided by operating activities, as presented above, changed but net change amounted to zero for each prior year statement of cash flows presented. During the quarter ended September 30, 2017, the Company revised its presentation of cost of goods sold in its consolidated statements of income. The Company determined that this revision is not material to any prior period and has reflected this revision in the results of operations for the fiscal years ended September 30, 2016 and 2015. This presentation did not affect total cost of goods sold, total operating expenses, income from operations, net income, or net income attributable to RCIHH common shareholders. During the quarter ended September 30, 2017, we revised the classification of certain goodwill assets to indefinite-lived intangible assets in our September 30, 2016 consolidated balance sheet amounting to $74,000 to conform to GAAP. In the same period, we revised the classification of computer software from property and equipment, net to intangible assets with a net carrying value of $503,000 as of September 30, 2016. During the year ended September 30, 2016 in relation to the sale of the 31% interest in Drink Robust, we previously reported a gain on sale of $641,000 and an impairment charge of $825,000 on the remaining 20% interest. We have revised the disclosure in Note 14 to our consolidated financial statements to disclose a loss on sale of $164,000. There is no impact in the financial statements since both the gain and impairment were included in other charges, net in the consolidated statement of income for the year ended September 30, 2016.

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for classifying current financial statements, which may be different from classifications in the prior year's financial statements. Disclose any material changes in classification including an explanation of the reason for the change and the areas impacted. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI http://asc.fasb.org/topic&trid=2122149 + Details
Name: | us-gaap_Reclassifications
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration