XML 45 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,634 $ 6,404
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,204 2,053
Deferred income tax expense (benefit) (150) 458
Gain on sale of businesses and assets (30) (1,176)
Unrealized loss on equity securities 72 447
Amortization of debt discount and issuance costs 61 95
Deferred rent 142
Noncash lease expense 329
Gain on insurance (20)
Changes in operating assets and liabilities:    
Accounts receivable 2,345 1,723
Inventories (141) (163)
Prepaid insurance, other current and other assets 1,565 1,939
Accounts payable, accrued and other liabilities (1,596) (470)
Net cash provided by operating activities 10,273 11,452
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of businesses and assets 51 1,245
Proceeds from insurance 932
Proceeds from notes receivable 357 32
Additions to property and equipment (4,058) (7,295)
Acquisition of businesses, net of cash acquired (13,500)
Net cash used in investing activities (2,718) (19,518)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt 318 5,652
Payments on long-term debt (2,081) (5,279)
Purchase of treasury stock (6,441) (355)
Payment of dividends (279) (291)
Distribution to noncontrolling interests (10)
Net cash used in financing activities (8,493) (273)
NET DECREASE IN CASH AND CASH EQUIVALENTS (938) (8,339)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 14,097 17,726
CASH AND CASH EQUIVALENTS AT END OF PERIOD 13,159 9,387
CASH PAID DURING PERIOD FOR:    
Interest (net of amounts capitalized of $120 and $172, respectively) 2,423 2,345
Income taxes 259 243
Noncash investing and financing transactions:    
Notes receivable received as proceeds from sale of assets 625
Operating lease right-of-use assets established upon adoption of ASC 842 27,310
Deferred rent liabilities reclassified upon adoption of ASC 842 1,241
Operating lease liabilities established upon adoption of ASC 842 28,551
Unpaid liabilities on capital expenditures $ 253
Borrowings from certain investors   2,350
Exchange of notes payable one principal balance   300
Exchange of notes payable two principal balance   100
Amount of new notes payable one   450
Amount of new notes payable two   200
Entire transaction cash received   1,950
Total acquisition price of two clubs acquired   25,500
Payment of two clubs acquired   13,500
Total amount of executing three-seller financed notes   $ 12,000