2019 Q1 Form 10-Q Financial Statement

#000165013219000051 Filed on April 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $39.60M $34.80M
YoY Change 13.79% 6.41%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.240M $8.540M
YoY Change 8.2% 13.41%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.361M $5.345M
YoY Change 19.01% -1.18%
% of Gross Profit
Operating Expenses $15.60M $13.87M
YoY Change 12.47% 7.22%
Operating Profit $24.00M $20.92M
YoY Change 14.74%
Interest Expense $6.747M $4.855M
YoY Change 38.97% 18.59%
% of Operating Profit 28.11% 23.21%
Other Income/Expense, Net $410.0K $360.0K
YoY Change 13.89% 3500.0%
Pretax Income $17.67M $16.42M
YoY Change 7.6% 4.75%
Income Tax $68.00K $58.00K
% Of Pretax Income 0.38% 0.35%
Net Earnings $17.50M $16.26M
YoY Change 7.68% 4.76%
Net Earnings / Revenue 44.2% 46.71%
Basic Earnings Per Share $0.26 $0.27
Diluted Earnings Per Share $0.26 $0.26
COMMON SHARES
Basic Shares Outstanding 68.20M shares 61.29M shares
Diluted Shares Outstanding 68.45M shares 61.41M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.00M $53.10M
YoY Change 52.54% 193.37%
Cash & Equivalents $81.01M $53.07M
Short-Term Investments
Other Short-Term Assets $800.0K $600.0K
YoY Change 33.33% 0.0%
Inventory $164.0K $157.0K
Prepaid Expenses
Receivables $300.0K $300.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $82.30M $54.20M
YoY Change 51.85% 183.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.207B $980.1M
YoY Change 23.15% 8.41%
Goodwill
YoY Change
Intangibles $22.46M $5.950M
YoY Change 277.55% 149.9%
Long-Term Investments
YoY Change
Other Assets $33.90M $24.80M
YoY Change 36.69% 56.96%
Total Long-Term Assets $1.267B $1.022B
YoY Change 24.05% 10.46%
TOTAL ASSETS
Total Short-Term Assets $82.30M $54.20M
Total Long-Term Assets $1.267B $1.022B
Total Assets $1.350B $1.076B
YoY Change 25.45% 13.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $1.200M
YoY Change 8.33% 20.0%
Accrued Expenses $11.90M $3.900M
YoY Change 205.13% 69.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $41.50M $30.40M
YoY Change 36.51% 17.83%
LONG-TERM LIABILITIES
Long-Term Debt $616.4M $516.0M
YoY Change 19.46% 17.46%
Other Long-Term Liabilities $1.800M $1.400M
YoY Change 28.57% 16.67%
Total Long-Term Liabilities $618.2M $517.4M
YoY Change 19.48% 17.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.50M $30.40M
Total Long-Term Liabilities $618.2M $517.4M
Total Liabilities $660.3M $547.8M
YoY Change 20.55% 17.46%
SHAREHOLDERS EQUITY
Retained Earnings $43.90M $35.25M
YoY Change 24.52% 30.93%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $683.4M $520.2M
YoY Change
Total Liabilities & Shareholders Equity $1.350B $1.076B
YoY Change 25.45% 13.97%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $17.50M $16.26M
YoY Change 7.68% 4.76%
Depreciation, Depletion And Amortization $6.361M $5.345M
YoY Change 19.01% -1.18%
Cash From Operating Activities $32.91M $21.75M
YoY Change 51.31% 14.54%
INVESTING ACTIVITIES
Capital Expenditures $20.35M $21.05M
YoY Change -3.35% 79.58%
Acquisitions
YoY Change
Other Investing Activities $100.0K -$100.0K
YoY Change -200.0%
Cash From Investing Activities -$20.26M -$21.10M
YoY Change -3.99% 80.0%
FINANCING ACTIVITIES
Cash Dividend Paid $19.58M $16.84M
YoY Change 16.25% 16.01%
Common Stock Issuance & Retirement, Net $660.0K $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$24.88M -$16.96M
YoY Change 46.74% 7.04%
NET CHANGE
Cash From Operating Activities $32.91M $21.75M
Cash From Investing Activities -$20.26M -$21.10M
Cash From Financing Activities -$24.88M -$16.96M
Net Change In Cash -$12.23M -$16.31M
YoY Change -25.0% 90.19%
FREE CASH FLOW
Cash From Operating Activities $32.91M $21.75M
Capital Expenditures $20.35M $21.05M
Free Cash Flow $12.56M $700.0K
YoY Change 1694.86% -90.37%

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1099591000 USD
CY2019Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
1104428000 USD
CY2018Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
569057000 USD
CY2019Q1 us-gaap Land And Land Improvements
LandAndLandImprovements
580580000 USD
CY2019Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
168000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10373000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8407000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
427000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
427000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
418000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
397000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
297000 USD
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3975000 USD
CY2018Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P9Y4M0D
CY2019Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P10Y10M0D
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1682389000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
133139000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
131802000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
95546000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
927788000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
130243000 USD
CY2019Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
128820000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
644134000 USD
CY2019Q1 us-gaap Liabilities
Liabilities
660339000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1343098000 USD
CY2019Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1349557000 USD
CY2019Q1 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
101000 USD
CY2018Q4 us-gaap Minority Interest
MinorityInterest
7867000 USD
CY2019Q1 us-gaap Minority Interest
MinorityInterest
5858000 USD
CY2019Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
3165000 USD
CY2019Q1 us-gaap Minority Interest Ownership Percentage By Noncontrolling Owners
MinorityInterestOwnershipPercentageByNoncontrollingOwners
0.0043
CY2019Q1 us-gaap Minority Interest Ownership Percentage By Parent
MinorityInterestOwnershipPercentageByParent
0.9957
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16955000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-24879000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21100000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20259000 USD
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21750000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32909000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
16255000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
17503000 USD
CY2018Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
109000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
98000 USD
CY2018Q4 us-gaap Notes Payable
NotesPayable
615892000 USD
CY2019Q1 us-gaap Notes Payable
NotesPayable
616404000 USD
CY2018Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2019Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 state
CY2018Q1 us-gaap Number Of Restaurants
NumberOfRestaurants
12 property
CY2019Q1 us-gaap Number Of Restaurants
NumberOfRestaurants
11 property
CY2019Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
45 state
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
13884000 USD
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
15598000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20919000 USD
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
24003000 USD
CY2019Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
34208000 USD
CY2019Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
34010000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6398000 USD
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
6425000 USD
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6398000 USD
CY2018Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
0 USD
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
104000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5685000 USD
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5723000 USD
CY2019Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
198000 USD
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0452
CY2019Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P21Y10M24D
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1053000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
550000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
103000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
400000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0 USD
CY2018Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
175000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1704000 USD
CY2019Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1099000 USD
CY2018Q4 us-gaap Other Assets
OtherAssets
5239000 USD
CY2019Q1 us-gaap Other Assets
OtherAssets
9225000 USD
CY2018Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
456000 USD
CY2019Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
993000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
5144000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-3636000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
5384000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-3027000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
240000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
609000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5144000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3636000 USD
CY2018Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
34000 USD
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-21000 USD
CY2018Q1 us-gaap Other Income
OtherIncome
358000 USD
CY2019Q1 us-gaap Other Income
OtherIncome
413000 USD
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
7053000 USD
CY2019Q1 us-gaap Other Liabilities
OtherLiabilities
15651000 USD
CY2018Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
50000 USD
CY2019Q1 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-86000 USD
CY2018Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
112000 USD
CY2019Q1 us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
101000 USD
CY2018Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
16843000 USD
CY2019Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
19580000 USD
CY2018Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2019Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2693000 USD
CY2018Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2100000 USD
CY2019Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
4000000 USD
CY2018Q1 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
13500000 USD
CY2019Q1 us-gaap Payments To Acquire Land
PaymentsToAcquireLand
11500000 USD
CY2018Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21050000 USD
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20345000 USD
CY2018Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
21000000 USD
CY2019Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
20300000 USD
CY2018Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2019Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3165000 USD
CY2019Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3200000 USD
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2019Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q1 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
815000 USD
CY2019Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
763000 USD
CY2018Q1 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
0 USD
CY2019Q1 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
31663000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
16364000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
17601000 USD
CY2018Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2019Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
614584000 USD
CY2019Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
618258000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1805281000 USD
CY2019Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1819613000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1190697000 USD
CY2019Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1201355000 USD
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
10800000 USD
CY2019Q1 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
8600000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1201000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
46018000 USD
CY2019Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
43895000 USD
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
34803000 USD
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
39601000 USD
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1184000 USD
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1214000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1508707 shares
CY2015Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2100000 shares
CY2018Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1184000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-1479000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
522268000 USD
CY2018Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
527993000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
698964000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
689218000 USD
CY2019Q1 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
295358 shares
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61413978 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68453720 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61291642 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68202950 shares
CY2019Q1 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Derivative Instruments and Hedging Activities</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. Our use of derivative instruments is currently limited to interest rate hedges. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows of the derivative are not expected to offset changes in cash flows of the hedged item. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, at the time the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the consolidated balance sheet or to specific forecasted transactions. We also formally assess, both at the hedge&#8217;s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items.</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria in accordance with United States generally accepted accounting principles (&#8220;U.S. GAAP&#8221;), changes in the derivatives&#8217; fair value are not included in current earnings but are included in accumulated other comprehensive income, net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs.</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;"></font></div></div>
CY2019Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Revenue Recognition</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:normal;text-decoration:none;">Rental Revenue</font></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">For those net leases that provide for periodic and determinable increases in base rent, base rental revenue is recognized on a straight-line basis over the applicable lease term when collectability is probable. Recognizing rental revenue on a straight-line basis generally results in recognized revenues during the first half of a lease term exceeding the cash amounts contractually due from our tenants, creating a deferred rent receivable. </font></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">We assess the collectability of our lease receivables, including deferred rents receivable, on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates it is not probable that we will be to recover substantially all of the receivable, we derecognize the deferred rent receivable asset and record as a reduction in rental revenue. </font></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">For those leases that provide for periodic increases in base rent only if certain revenue parameters or other substantive contingencies are met, the increased rental revenue is recognized as the related parameters or contingencies are met, rather than on a straight-line basis over the applicable lease term. Prior to the adoption of ASC 842, lessor costs reimbursed by the lessee were presented on a net basis in our Consolidated Financial Statements. Subsequent to the adoption of ASC 842 on January 1, 2019, costs paid by the lessor and reimbursed by the lessees will be included in variable lease payments and presented on a gross basis within rental revenue. Sales taxes collected from lessees and remitted to governmental authorities are presented on a net basis within rental revenue.</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:normal;text-decoration:none;">Restaurant Revenue</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">Restaurant revenue represents food, beverage, and other products sold and is presented net of the following discounts: coupons, employee meals, complimentary meals and gift cards. Revenue from restaurant sales, whether received in cash or by credit card, is recognized when food and beverage products are sold. At both March 31, 2019, and December 31, 2018, credit card receivables, included in other assets, totaled $</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">82 thousand</font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">. We recognize sales from our gift cards when the gift card is redeemed by the customer. Sales taxes collected from customers and remitted to governmental authorities are presented on a net basis within restaurant revenue on our Consolidated Income Statements. </font></div><div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;"></font></div></div>
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Use of Estimates</font></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">The preparation of these Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The estimates and assumptions used in the accompanying Consolidated Financial Statements are based on management&#8217;s evaluation of the relevant facts and circumstances. Actual results may differ from the estimates and assumptions used in preparing the accompanying Consolidated Financial Statements, and such differences could be material.</font></div><div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;"></font></div></div>

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