Company Quick10K Filing
Quick10K
Sequential Brands Group
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.88 65 $57
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
8-K 2019-08-09 Earnings, Regulation FD, Exhibits
8-K 2019-06-10 M&A, Off-BS Arrangement, Regulation FD, Exhibits
8-K 2019-06-07 Shareholder Vote
8-K 2019-06-05 Officers, Exhibits
8-K 2019-06-05
8-K 2019-05-08 Earnings, Regulation FD, Exhibits
8-K 2019-04-16 Enter Agreement, Impairments, Officers, Regulation FD, Exhibits
8-K 2019-02-14 Other Events
8-K 2019-01-16
8-K 2018-11-07 Earnings, Regulation FD, Exhibits
8-K 2018-08-07 Enter Agreement, Earnings, Off-BS Arrangement, Regulation FD, Exhibits
8-K 2018-06-08 Shareholder Vote
8-K 2018-05-09 Earnings, Regulation FD, Exhibits
8-K 2018-02-28 Earnings, Regulation FD, Exhibits
8-K 2018-02-27 Officers, Exhibits
SR Spire 4,240
FIVN Five9 2,990
QEP QEP Resources 1,790
HTGC Hercules Capital 1,340
SILK Silk Road Medical 1,230
EDIT Editas Medicine 1,210
CAL Caleres 1,090
INTL Intl Fcstone 717
BHB Bar Harbor Bankshares 422
RTIX RTI Surgical 367
SQBG 2019-06-30
Part I - Financial Information
Item 1. Financial Statements
Item 2.Management’S Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-10.1 sqbg-20190630ex1017250bf.htm
EX-31.1 sqbg-20190630ex311edb455.htm
EX-31.2 sqbg-20190630ex312331e3b.htm
EX-32.1 sqbg-20190630ex321d5599c.htm

Sequential Brands Group Earnings 2019-06-30

SQBG 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 sqbg-20190630x10q.htm 10-Q sqbg_Current_Folio_10Q

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2019

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ____________________ to ______________________.

Commission File Number 001‑37656

SEQUENTIAL BRANDS GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware

47‑4452789

(State or other jurisdiction of incorporation or

(I.R.S. Employer Identification No.)

organization)

 

 

601 West 26th Street, 9th Floor

New York, New York 10001

(Address of principal executive offices) (Zip Code)

(646) 564‑2577

(Registrant’s telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ◻

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ◻

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b‑2 of the Exchange Act.

 

 

 

 

Large accelerated filer ◻      Accelerated filer ☒

 

 

 

 

Non-accelerated filer ◻

 

Smaller reporting company ◻

Emerging growth company ◻

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b‑2 of the Exchange Act). Yes ◻ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

    

Trading Symbol

    

Name of each exchange on which registered:

Common stock, par value $0.01 per share

 

SQBG

 

NASDAQ Capital Market

 

As of August 2, 2019, the registrant had 65,404,888 shares of common stock, par value $0.01 per share, outstanding.

 

 

 

SEQUENTIAL BRANDS GROUP, INC. AND SUBSIDIARIES

INDEX TO FORM 10‑Q

 

 

2

Forward-Looking Statements

This quarterly report on Form 10‑Q (this “Quarterly Report”), including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We use words such as “future,” “seek,” “could,” “can,” “predict,” “believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will,” “should,” “estimate,” “potential,” “project” and similar expressions to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: (i) risks and uncertainties discussed in the reports that the Company has filed with the Securities and Exchange Commission (the “SEC”); (ii) general economic, market or business conditions; (iii) the Company’s ability to identify suitable targets for acquisitions and to obtain financing for such acquisitions on commercially reasonable terms; (iv) the Company’s ability to timely achieve the anticipated results of recent acquisitions and any potential future acquisitions; (v) the Company’s ability to successfully integrate acquisitions into its ongoing business; (vi) the potential impact of the consummation of recent acquisitions or any potential future acquisitions on the Company’s relationships, including with employees, licensees, customers and competitors; (vii) the Company’s ability to achieve and/or manage growth and to meet target metrics associated with such growth; (viii) the Company’s ability to successfully attract new brands and to identify suitable licensees for its existing and newly acquired brands; (ix) the Company’s substantial level of indebtedness, including the possibility that such indebtedness and related restrictive covenants may adversely affect the Company’s future cash flows, results of operations and financial condition and decrease its operating flexibility; (x) the Company’s ability to achieve its guidance; (xi) continued market acceptance of the Company’s brands; (xii) changes in the Company’s competitive position or competitive actions by other companies; (xiii) licensees’ ability to fulfill their financial obligations to the Company; (xiv) concentrations of the Company’s licensing revenues with a limited number of licensees and retail partners; (xv) risks related to the effects of the Martha sale and (xvi) other circumstances beyond the Company’s control.

Forward-looking statements speak only as of the date they are made and are based on current expectation and assumptions. You should not put undue reliance on any forward-looking statement. We are not under any obligation, and we expressly disclaim any obligation, to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to such or other forward-looking statements.

Where You Can Find Other Information

Our corporate website address is www.sequentialbrandsgroup.com. The information contained on our website is not part of this Quarterly Report. We file our annual, quarterly and current reports and other information with the SEC. These reports, and any amendments to these reports, are made available on our website and can be viewed and downloaded free of charge as soon as reasonably practicable after such reports are filed with or furnished to the SEC. The public may read and copy any materials filed with the SEC at the SEC’s Public Reference Room located at 100 F Street, NE, Washington, D.C. 20549. The public may also obtain information on the operation of the Public Reference Room by calling the SEC at 1‑800‑SEC‑0330. In addition, the SEC maintains an internet site that contains annual, quarterly and current reports, proxy and information statements and other information regarding issuers that file electronically with the SEC, which is available at www.sec.gov.

Unless otherwise noted, references in this Quarterly Report to the “Sequential Brands Group,” “Company,” “our Company,” “we,” “us,” “our” or similar pronouns refer to Sequential Brands Group, Inc. and its subsidiaries. References to other companies may include their trademarks, which are the property of their respective owners.

3

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

SEQUENTIAL BRANDS GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

 

 

 

 

 

 

 

 

 

 

June 30, 

 

December 31, 

 

 

    

2019

    

2018

  

 

 

 

(Unaudited)  

 

(Note 2)  

 

Assets

 

 

 

 

 

 

 

Current Assets:

 

 

  

 

 

  

 

Cash

 

$

6,919

 

$

14,106

 

Restricted cash

 

 

2,040

 

 

2,032

 

Accounts receivable, net

 

 

45,905

 

 

49,600

 

Prepaid expenses and other current assets

 

 

3,086

 

 

3,981

 

Current assets held for disposition from discontinued operations

 

 

10,219

 

 

23,845

 

Total current assets

 

 

68,169

 

 

93,564

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

7,635

 

 

8,391

 

Intangible assets, net

 

 

633,937

 

 

634,827

 

Right-of-use assets - operating leases

 

 

48,862

 

 

 -

 

Other assets

 

 

13,248

 

 

11,222

 

Long-term assets held for disposition from discontinued operations

 

 

 -

 

 

330,664

 

Total assets

 

$

771,851

 

$

1,078,668

 

 

 

 

 

 

 

 

 

Liabilities and Equity

 

 

  

 

 

  

 

Current Liabilities:

 

 

  

 

 

  

 

Accounts payable and accrued expenses

 

$

10,382

 

$

11,600

 

Current portion of long-term debt

 

 

28,300

 

 

28,300

 

Current portion of deferred revenue

 

 

8,545

 

 

8,172

 

Current portion of lease liabilities - operating leases

 

 

2,883

 

 

 -

 

Current liabilities held for disposition from discontinued operations

 

 

3,875

 

 

15,450

 

Total current liabilities

 

 

53,985

 

 

63,522

 

 

 

 

 

 

 

 

 

Long-term debt, net of current portion

 

 

417,582

 

 

582,487

 

Long-term deferred revenue, net of current portion

 

 

6,414

 

 

8,224

 

Deferred income taxes

 

 

22,772

 

 

32,064

 

Lease liabilities - operating leases

 

 

52,964

 

 

 -

 

Other long-term liabilities

 

 

5,698

 

 

9,160

 

Long-term liabilities held for disposition from discontinued operations

 

 

 -

 

 

38,567

 

Total liabilities

 

 

559,415

 

 

734,024

 

 

 

 

 

 

 

 

 

Commitments and Contingencies

 

 

  

 

 

  

 

 

 

 

 

 

 

 

 

Equity:

 

 

  

 

 

  

 

Preferred stock Series A, $0.01 par value; 10,000,000 shares authorized; none issued and outstanding at June 30, 2019 and December 31, 2018

 

 

 -

 

 

 -

 

Common stock, $0.01 par value; 150,000,000 shares authorized; 66,831,369 and 65,990,179 shares issued at June 30, 2019 and December 31, 2018, respectively, and 65,404,888 and 64,327,582 shares outstanding at June 30, 2019 and December 31, 2018, respectively

 

 

668

 

 

657

 

Additional paid-in capital

 

 

513,922

 

 

513,764

 

Accumulated other comprehensive loss

 

 

(4,718)

 

 

(1,554)

 

Accumulated deficit

 

 

(364,667)

 

 

(234,723)

 

Treasury stock, at cost; 1,426,481 and 1,662,597 shares at June 30, 2019 and December 31, 2018, respectively

 

 

(3,350)

 

 

(4,226)

 

Total Sequential Brands Group, Inc. and Subsidiaries stockholders’ equity

 

 

141,855

 

 

273,918

 

Noncontrolling interests

 

 

70,581

 

 

70,726

 

Total equity

 

 

212,436

 

 

344,644

 

Total liabilities and equity

 

$

771,851

 

$

1,078,668

 

See Notes to Condensed Consolidated Financial Statements.

4

SEQUENTIAL BRANDS GROUP, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 

 

Six Months Ended June 30, 

 

 

    

2019

    

2018

    

2019

    

2018

    

 

 

 

 

 

 

(Note 2)

 

 

 

 

 

(Note 2)

 

Net revenue

 

$

26,415

 

$

33,126

 

$

51,939

 

$

62,589

 

Operating expenses

 

 

13,907

 

 

13,428

 

 

29,453

 

 

26,719

 

Loss on sale of assets

 

 

 -

 

 

1,975

 

 

 -

 

 

7,117

 

Income from operations

 

 

12,508

 

 

17,723

 

 

22,486

 

 

28,753

 

Other expense (income)

 

 

829

 

 

31

 

 

427

 

 

(104)

 

Interest expense, net

 

 

13,893

 

 

13,950

 

 

27,746

 

 

27,747

 

(Loss) income from continuing operations before income taxes

 

 

(2,214)

 

 

3,742

 

 

(5,687)

 

 

1,110

 

(Benefit from) provision for income taxes

 

 

(379)

 

 

441

 

 

(620)

 

 

(544)

 

(Loss) income from continuing operations

 

 

(1,835)

 

 

3,301

 

 

(5,067)

 

 

1,654

 

Net income attributable to noncontrolling interests from continuing operations

 

 

(1,455)

 

 

(1,102)

 

 

(2,994)

 

 

(3,062)

 

(Loss) income from continuing operations attributable to Sequential Brands Group, Inc. and Subsidiaries

 

 

(3,290)

 

 

2,199

 

 

(8,061)

 

 

(1,408)

 

(Loss) income from discontinued operations, net of income taxes

 

 

(1,309)

 

 

1,388

 

 

(121,883)

 

 

2,731

 

Net (loss) income attributable to Sequential Brands Group, Inc. and Subsidiaries

 

$

(4,599)

 

$

3,587

 

$

(129,944)

 

$

1,323

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings per share - basic:

 

 

  

 

 

  

 

 

  

 

 

  

 

Continuing operations

 

$

(0.05)

 

$

0.03

 

$

(0.13)

 

$

(0.02)

 

Discontinued operations

 

$

(0.02)

 

$

0.02

 

$

(1.89)

 

$

0.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings per share - diluted:

 

 

  

 

 

  

 

 

  

 

 

  

 

Continuing operations

 

$

(0.05)

 

$

0.03

 

$

(0.13)

 

$

(0.02)

 

Discontinued operations

 

$

(0.02)

 

$

0.02

 

$

(1.89)

 

$

0.04

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings per share attributable to Sequential Brands Group, Inc. and Subsidiaries:

 

 

  

 

 

  

 

 

  

 

 

  

 

Basic

 

$

(0.07)

 

$

0.06

 

$

(2.02)

 

$

0.02

 

Diluted

 

$

(0.07)

 

$

0.06

 

$

(2.02)

 

$

0.02

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding:

 

 

  

 

 

 

 

 

  

 

 

 

 

Basic

 

 

64,685,188

 

 

63,583,280

 

 

64,454,718

 

 

63,408,679

 

Diluted

 

 

64,685,188

 

 

64,029,972

 

 

64,454,718

 

 

64,329,308

 

 

See Notes to Condensed Consolidated Financial Statements.

5

SEQUENTIAL BRANDS GROUP, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY

(in thousands, except share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sequential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Group, Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

Other

 

 

 

 

 

 

 

 

 

 

Subsidiaries

 

 

 

 

 

 

 

 

Preferred Stock

 

Common Stock

 

Paid-in

 

Comprehensive

 

Accumulated

 

Treasury Stock

 

Stockholders'

 

Noncontrolling

 

Total

 

    

Shares

    

Amount

    

Shares

    

Amount

    

Capital

    

Income (Loss)

    

Deficit

    

Shares

    

Amount

    

Equity

    

Interests

    

Equity

Balance at January 1, 2018

 

 —

 

$

 —

 

 

63,652,721

 

$

635

 

$

508,444

 

$

80

 

$

(225,369)

 

 

(424,994)

 

$

(1,799)

 

$

281,991

 

$

71,547

 

$

353,538

Cumulative effect of revenue recognition accounting change

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,130

 

 

 —

 

 

 —

 

 

1,130

 

 

355

 

 

1,485

Stock-based compensation

 

 —

 

 

 —

 

 

452,929

 

 

 2

 

 

1,343

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,345

 

 

 —

 

 

1,345

Shares issued under stock incentive plan

 

 —

 

 

 —

 

 

843,486

 

 

 8

 

 

1,492

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,500

 

 

 —

 

 

1,500

Unrealized gain on interest rate caps, net of tax

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

679

 

 

 —

 

 

 —

 

 

 —

 

 

679

 

 

 —

 

 

679

Repurchase of common stock

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(986,858)

 

 

(1,919)

 

 

(1,919)

 

 

 —

 

 

(1,919)

Noncontrolling interest distributions

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(1,244)

 

 

(1,244)

Net income attributable to noncontrolling interests

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,960

 

 

1,960

Net loss attributable to common stockholders

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(2,264)

 

 

 —

 

 

 —

 

 

(2,264)

 

 

 —

 

 

(2,264)

Balance at March 31, 2018

 

 —

 

$

 —

 

 

64,949,136

 

$

645

 

$

511,279

 

$

759

 

$

(226,503)

 

 

(1,411,852)

 

$

(3,718)

 

$

282,462

 

$

72,618

 

$

355,080

Stock-based compensation

 

 —

 

 

 —

 

 

420,770

 

 

 6

 

 

764

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

770

 

 

 —

 

 

770

Unrealized loss on equity securities

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(228)

 

 

 —

 

 

 —

 

 

 —

 

 

(228)

 

 

 —

 

 

(228)

Unrealized loss on interest rate caps, net of tax

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(238)

 

 

 —

 

 

 —

 

 

 —

 

 

(238)

 

 

 —

 

 

(238)

Repurchase of common stock

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(42,669)

 

 

(83)

 

 

(83)

 

 

 —

 

 

(83)

Noncontrolling interest distributions

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(2,943)

 

 

(2,943)

Net income attributable to noncontrolling interests

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,102

 

 

1,102

Net income attributable to common stockholders

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

3,587

 

 

 —

 

 

 —

 

 

3,587

 

 

 —

 

 

3,587

Balance at June 30, 2018

 

 —

 

$

 —

 

 

65,369,906

 

$

651

 

$

512,043

 

$

293

 

$

(222,916)

 

 

(1,454,521)

 

$

(3,801)

 

$

286,270

 

$

70,777

 

$

357,047

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2019

 

 —

 

$

 —

 

 

65,990,179

 

$

657

 

$

513,764

 

$

(1,554)

 

$

(234,723)

 

 

(1,662,597)

 

$

(4,226)

 

$

273,918

 

$

70,726

 

$

344,644

Stock-based compensation

 

 —

 

 

 —

 

 

457,734

 

 

 5

 

 

721

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

726

 

 

 —

 

 

726

Unrealized loss on interest rate swaps, net of tax

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(1,480)

 

 

 —

 

 

 —

 

 

 —

 

 

(1,480)

 

 

 —

 

 

(1,480)

Repurchase of common stock

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(134,839)

 

 

(170)

 

 

(170)

 

 

 —

 

 

(170)

Noncontrolling interest distributions

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(1,093)

 

 

(1,093)

Net income attributable to noncontrolling interests

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

1,539

 

 

1,539

Net loss attributable to common stockholders

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(125,345)

 

 

 —

 

 

 —

 

 

(125,345)

 

 

 —

 

 

(125,345)

Balance at March 31, 2019

 

 —

 

$

 —

 

 

66,447,913

 

$

662

 

$

514,485

 

$

(3,034)

 

$

(360,068)

 

 

(1,797,436)

 

$

(4,396)

 

$

147,649

 

$

71,172

 

$

218,821

Stock-based compensation

 

 —

 

 

 —

 

 

383,456

 

 

 6

 

 

561

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

567

 

 

 —

 

 

567

Shares issued from treasury stock

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(1,124)

 

 

 —

 

 

 —

 

 

464,576

 

 

1,124

 

 

 —

 

 

 —

 

 

 —

Unrealized loss on interest rate swaps, net of tax

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(1,684)

 

 

 —

 

 

 —

 

 

 —

 

 

(1,684)

 

 

 —

 

 

(1,684)

Repurchase of common stock

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

(93,621)

 

 

(78)

 

 

(78)

 

 

 —

 

 

(78)

Noncontrolling interest distributions

 

 —

 

 

 —

 

 

 —

 

 

 —

 

&nbs