| Condensed Balance Sheets |
CONDENSED BALANCE SHEETS
(In thousands, except per share data)
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December 31, |
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2021 |
|
2020 |
| ASSETS |
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| Current assets |
$ |
— |
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$ |
— |
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| Noncurrent assets: |
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| Investment in subsidiaries |
2,091,392 |
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|
1,496,413 |
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| Total noncurrent assets |
2,091,392 |
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|
1,496,413 |
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| Total assets |
$ |
2,091,392 |
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$ |
1,496,413 |
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| LIABILITIES AND STOCKHOLDERS’ EQUITY |
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| Current liabilities |
$ |
— |
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$ |
— |
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| Noncurrent liabilities |
— |
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— |
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| Total liabilities |
— |
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— |
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| Stockholders’ equity: |
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Common stock, $0.01 par value, 500,000 and 170,000 shares authorized, respectively; 193,060 and 145,196 shares issued and outstanding, respectively |
1,931 |
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|
1,452 |
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| Additional paid-in capital |
2,743,560 |
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1,569,905 |
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| Accumulated deficit |
(654,099) |
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(74,944) |
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| Total stockholders’ equity |
2,091,392 |
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|
1,496,413 |
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| Total liabilities and stockholders’ equity |
$ |
2,091,392 |
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$ |
1,496,413 |
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| Condensed Statements of Operations |
CONDENSED STATEMENTS OF OPERATIONS
(In thousands)
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For the Year Ended December 31, |
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2021 |
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2020 |
|
2019 |
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| Total Revenue |
$ |
— |
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$ |
— |
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$ |
— |
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| Operating expenses: |
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| Center operations |
12,934 |
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— |
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— |
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| General, administrative and marketing |
316,836 |
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— |
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24,152 |
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| Other operating |
4,569 |
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— |
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— |
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| Total operating expenses |
334,339 |
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— |
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24,152 |
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| Loss from operations |
(334,339) |
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— |
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(24,152) |
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| Other (expense) income: |
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| Interest expense, net of interest income |
(40,993) |
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— |
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— |
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| Total other expense |
(40,993) |
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— |
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— |
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| Loss before income taxes |
(375,332) |
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— |
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(24,152) |
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| Benefit from income taxes |
(81,579) |
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— |
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(7,004) |
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| Net loss before equity in net (loss) income of subsidiaries |
(293,753) |
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— |
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(17,148) |
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| Net (loss) income of subsidiaries attributable to Life Time Group Holdings, Inc. |
(285,616) |
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(360,192) |
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47,173 |
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| Net (loss) income attributable to Life Time Group Holdings, Inc. |
$ |
(579,369) |
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$ |
(360,192) |
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$ |
30,025 |
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