XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.19.2

Revision of Prior Year Immaterial Misstatement | 6 Months Ended
--- | ---
Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract] |
Revision of Prior Year Immaterial Misstatement | 3. Revision of Prior Year Immaterial Misstatement During the quarter ended December 31, 2018, the Company identified certain mechanical errors in our goodwill impairment analysis that was performed for our annual impairment testing for fiscal year ended September 30, 2018. These errors related to the use of an incorrect income tax rate assumption and the exclusion of certain debt service payments as part of our goodwill impairment testing for two of our reporting units, which resulted in a goodwill impairment charge of $834,000. The Company assessed the materiality of these errors considering both qualitative and quantitative factors and determined that for both the quarter and fiscal year ended September 30, 2018, the errors were immaterial. The Company has decided to correct these immaterial errors as revisions to our previously issued financial statements and will adjust the Form 10-K when filed in succeeding periods of this fiscal year. The tables below present the impact of the revision in the Company’s consolidated financial statements (in thousands):
|  | Fiscal Year Ended September 30, 2018 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Revised |
Statement of Income/Comprehensive Income: |  |  |  |  |  |  |  |  |
Other charges, net |  | $ | 8,350 |  |  | $ | 834 |  |  | $ | 9,184 |
Total operating expenses |  |  | 137,352 |  |  |  | 834 |  |  |  | 138,186 |
Income from operations |  |  | 28,396 |  |  |  | (834 | ) |  |  | 27,562 |
Income before income taxes |  |  | 18,676 |  |  |  | (834 | ) |  |  | 17,842 |
Net income |  |  | 21,794 |  |  |  | (834 | ) |  |  | 20,960 |
Net income attributable to RCIHH common stockholders |  |  | 21,713 |  |  |  | (834 | ) |  |  | 20,879 |
Earnings per share - basic |  | $ | 2.23 |  |  | $ | (0.08 | ) |  | $ | 2.15 |
Earnings per share - diluted |  | $ | 2.23 |  |  | $ | (0.08 | ) |  | $ | 2.15 |
Comprehensive income |  | $ | 22,014 |  |  | $ | (834 | ) |  | $ | 21,180 |
Comprehensive income attributable to RCI Hospitality Holdings, Inc. |  |  | 21,933 |  |  |  | (834 | ) |  |  | 21,099 |
|  | September 30, 2018 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Balance Sheet/Statement of Changes in Stockholders’ Equity |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 44,425 |  |  | $ | (834 | ) |  | $ | 43,591 |
Total assets |  |  | 330,566 |  |  |  | (834 | ) |  |  | 329,732 |
Retained earnings |  |  | 89,740 |  |  |  | (834 | ) |  |  | 88,906 |
Total RCIHH stockholders’ equity |  |  | 154,269 |  |  |  | (834 | ) |  |  | 153,435 |
Total stockholders’ equity |  |  | 154,166 |  |  |  | (834 | ) |  |  | 153,332 |
Total liabilities and stockholders’ equity |  |  | 330,566 |  |  |  | (834 | ) |  |  | 329,732 |
The table below presents the impact of the revision in the Company’s notes to its consolidated financial statements related to unaudited quarterly results of operations (in thousands):
|  | Quarter Ended September 30, 2018 |
|  | As Previously Reported |  |  | Adjustment |  |  | As Revised |
Income from operations |  | $ | 1,533 |  |  | $ | (834 | ) |  | $ | 699 |
Net loss attributable to RCIHH common stockholders |  |  | (2,672 | ) |  |  | (834 | ) |  |  | (3,506 | )
Loss per share - basic |  | $ | (0.27 | ) |  | $ | (0.09 | ) |  | $ | (0.36 | )
Loss per share - diluted |  | $ | (0.27 | ) |  | $ | (0.09 | ) |  | $ | (0.36 | )
The consolidated statements of cash flows are not presented because there is no impact on total cash flows from operating activities, investing activities and financing activities. Certain components of net cash provided by operating activities changed, as caused by the revision, but the net change amounted to zero for both quarter and fiscal year ended September 30, 2018.

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

X
- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration