Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 08, 2018 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | ONE Group Hospitality, Inc. | |
Entity Central Index Key | 1,399,520 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | STKS | |
Entity Common Stock, Shares Outstanding | 27,352,601 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 1,143 | $ 1,548 |
Accounts receivable | 5,252 | 5,514 |
Inventory | 1,288 | 1,402 |
Other current assets | 1,509 | 1,299 |
Total current assets | 9,192 | 9,763 |
Property & equipment, net | 37,338 | 37,811 |
Investments | 2,519 | 2,957 |
Deferred tax assets, net | 69 | 69 |
Other assets | 422 | 384 |
Security deposits | 2,083 | 2,031 |
Total assets | 51,623 | 53,015 |
Current liabilities: | ||
Accounts payable | 5,095 | 5,329 |
Accrued expenses | 6,206 | 6,987 |
Deferred license revenue | 215 | 115 |
Deferred gift card revenue and other | 797 | 999 |
Due to related parties, net | 220 | 256 |
Current portion of long-term debt | 3,187 | 3,241 |
Total current liabilities | 15,720 | 16,927 |
Deferred license revenue, long-term | 1,477 | 1,222 |
Due to related parties, long-term | 1,197 | 1,197 |
Deferred rent and tenant improvement allowances | 16,985 | 17,001 |
Long-term debt, net of current portion | 9,378 | 10,115 |
Total liabilities | 44,757 | 46,462 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Common stock, $0.0001 par value, 75,000,000 shares authorized; 27,252,101 and 27,152,101 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively | 3 | 3 |
Preferred stock, $0.0001 par value, 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017 | 0 | 0 |
Additional paid-in capital | 41,331 | 41,007 |
Accumulated deficit | (31,802) | (31,979) |
Accumulated other comprehensive loss | (1,631) | (1,556) |
Total stockholders’ equity | 7,901 | 7,475 |
Noncontrolling interests | (1,035) | (922) |
Total equity | 6,866 | 6,553 |
Total Liabilities and Equity | $ 51,623 | $ 53,015 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value per share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 27,252,101 | 27,152,101 |
Common stock, shares outstanding | 27,252,101 | 27,152,101 |
Preferred stock, par value per share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues: | ||
Owned restaurant net revenues | $ 15,076 | $ 14,228 |
Owned food, beverage and other net revenues | 2,005 | 3,885 |
Total owned revenue | 17,081 | 18,113 |
Management, license and incentive fee revenue | 2,436 | 2,314 |
Total revenues | 19,517 | 20,427 |
Owned restaurants: | ||
Owned restaurant cost of sales | 4,034 | 3,876 |
Owned restaurant operating expenses | 9,378 | 9,369 |
Total owned restaurant expenses | 13,412 | 13,245 |
Owned food, beverage and other expenses | 1,689 | 2,937 |
Total owned operating expenses | 15,101 | 16,182 |
General and administrative (including stock-based compensation of $324 and $153, respectively) | 3,055 | 2,921 |
Depreciation and amortization | 778 | 866 |
Lease termination expense and asset write-offs | 0 | 273 |
Pre-opening expenses | 210 | 470 |
Equity in loss (income) of investee companies | 23 | (45) |
Other (income) expense, net | (111) | 12 |
Total costs and expenses | 19,056 | 20,679 |
Operating income (loss) | 461 | (252) |
Interest expense, net of interest income | 318 | 259 |
Income (loss) from continuing operations before provision for income taxes | 143 | (511) |
Income tax provision (benefit) | 25 | (17) |
Income (loss) from continuing operations | 118 | (494) |
Loss from discontinued operations | 0 | (106) |
Net income (loss) | 118 | (600) |
Less: net loss attributable to noncontrolling interest | (113) | (198) |
Net income (loss) attributable to The ONE Group Hospitality, Inc. | 231 | (402) |
Currency translation adjustment | (75) | (56) |
Comprehensive income (loss) | $ 156 | $ (458) |
Basic earnings (loss) per share: | ||
Continuing operations | $ 0.01 | $ (0.01) |
Discontinued operations | 0 | 0 |
Attributable to The ONE Group Hospitality, Inc. | 0.01 | (0.02) |
Diluted earnings (loss) per share: | ||
Continuing operations | 0.01 | (0.01) |
Discontinued operations | 0 | 0 |
Attributable to The ONE Group Hospitality, Inc. | $ 0.01 | $ (0.02) |
Weighted average number of common shares outstanding: | ||
Basic | 27,187,657 | 25,050,628 |
Diluted | 27,388,498 | 25,050,628 |
CONSOLIDATED STATEMENTS OF OPE5
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation | $ 324 | $ 153 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands | Total | Common stock [Member] | Additional paid-in capital [Member] | Accumulated deficit [Member] | Accumulated other comprehensive loss [Member] | Stockholders' equity [Member] | Noncontrolling Interest [Member] |
Balance at Dec. 31, 2017 | $ 6,553 | $ 3 | $ 41,007 | $ (31,979) | $ (1,556) | $ 7,475 | $ (922) |
Balance (in shares) at Dec. 31, 2017 | 27,152,101 | ||||||
Adoption of ASC 606 “Revenue from contract with customers” | (54) | $ 0 | 0 | (54) | 0 | (54) | 0 |
Stock based compensation expense | 324 | 0 | 324 | 0 | 0 | 324 | 0 |
Vesting of restricted shares | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Vesting of restricted shares (in shares) | 100,000 | ||||||
Loss on foreign currency translation, net | (75) | $ 0 | 0 | 0 | (75) | (75) | 0 |
Net income | 118 | 0 | 0 | 231 | 0 | 231 | (113) |
Balance at Mar. 31, 2018 | $ 6,866 | $ 3 | $ 41,331 | $ (31,802) | $ (1,631) | $ 7,901 | $ (1,035) |
Balance (in shares) at Mar. 31, 2018 | 27,252,101 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating activities: | ||
Net income (loss) | $ 118 | $ (600) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 778 | 866 |
Amortization of discount on warrants | 51 | 47 |
Deferred rent | (18) | (35) |
Deferred taxes | (2) | 0 |
Loss (income) from equity method investments | 23 | (45) |
Gain on disposition of cost method investment | (185) | 0 |
Share-based Compensation | 324 | 153 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 190 | (386) |
Inventory | 115 | (78) |
Prepaid expenses and other current assets | (211) | (506) |
Due from related parties, net | (99) | (293) |
Security deposits | (54) | (7) |
Other assets | (37) | 32 |
Accounts payable | (203) | 2,394 |
Accrued expenses | (718) | (1,278) |
Deferred revenue | 100 | 583 |
Net cash provided by operating activities | 172 | 847 |
Investing activities: | ||
Purchase of property and equipment | (306) | (1,353) |
Proceeds from disposition of cost method investment | 600 | 0 |
Net cash (used in) provided by financing activities | 294 | (1,353) |
Financing activities: | ||
Proceeds from business loan and security agreement | 0 | 1,000 |
Repayment of term loan | (694) | (800) |
Repayment of equipment financing agreement | (87) | (82) |
Repayment of business loan and security agreement | (62) | 0 |
Distributions to non-controlling interests | 0 | (23) |
Net cash (used in) provided by financing activities | (843) | 95 |
Effect of exchange rate changes on cash | (28) | (35) |
Net decrease in cash and cash equivalents | (405) | (446) |
Cash and cash equivalents, beginning of year | 1,548 | 918 |
Cash and cash equivalents, end of year | 1,143 | 472 |
Supplemental disclosure of cash flow data: | ||
Interest Paid, Net | 142 | 138 |
Income taxes paid | 26 | 0 |
Noncash investing and financing activities: | ||
Noncash debt issuance costs | $ 0 | $ 35 |
Basis of presentation
Basis of presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of presentation [Text Block] | Note 1 - Basis of presentation The accompanying consolidated balance sheet as of December 31, 2017, which has been derived from audited financial statements, and the unaudited consolidated financial statements of The ONE Group Hospitality, Inc. and its subsidiaries (collectively, "the Company") as of and for the three months ended March 31, 2018 have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The information furnished within this Form 10-Q reflects all adjustments (consisting only of normal recurring accruals and adjustments), which are, in the Company’s opinion, necessary to fairly state the interim operating results for the respective periods. The Company is a global hospitality company that develops, owns, operates and manages upscale restaurants and lounges. The Company’s primary restaurant brand is STK, a multi-unit steakhouse concept that combines a high-energy, social atmosphere with the quality food and service of a traditional upscale steakhouse. As of March 31, 2018, the Company owned, operated or managed eighteen venues across seven states and six countries. The Company also provides turn-key food and beverage (“F&;B”) services for hospitality venues including hotels, casinos and other high-end locations. Turn-key F&;B services are food and beverage services that can be scaled, customized and implemented by the Company at a particular hospitality venue and customized per the requirements of the client. As of March 31, 2018, under various management agreements, the Company services thirteen venues throughout the United States and in Europe. Certain information and footnote disclosure normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been omitted pursuant to SEC rules and regulations. The notes to the consolidated financial statements (unaudited) should be read in conjunction with the notes to the consolidated financial statements contained in the Company’s annual report on Form 10-K for the year ended December 31, 2017. The Company believes that the disclosures are sufficient for interim financial reporting purposes. However, these operating results are not necessarily indicative of the results expected for the full year. Certain prior year amounts have been reclassified to conform to current year presentation in the consolidated financial statements. |
Liquidity
Liquidity | 3 Months Ended |
Mar. 31, 2018 | |
Liquidity [Abstract] | |
Liquidity [Text Block] | Note 2 - Liquidity As of March 31, 2018, the Company's accumulated deficit was $ 31.8 1.1 |
Inventory
Inventory | 3 Months Ended |
Mar. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Inventory Disclosure [Text Block] | Note 3 - Inventory March 31, December 31, Food $ 206 $ 246 Beverages 1,082 1,156 Totals $ 1,288 $ 1,402 |
Other current assets
Other current assets | 3 Months Ended |
Mar. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Current Assets [Text Block] | Note 4 Other current assets Other current assets consists of the following (in thousands) as of: March 31, December 31, 2018 2017 Prepaid taxes $ 274 $ 255 Landlord receivable 258 258 Prepaid expenses 531 421 Other 446 365 Totals $ 1,509 $ 1,299 |
Accrued expenses
Accrued expenses | 3 Months Ended |
Mar. 31, 2018 | |
Accruals [Abstract] | |
Accrued Liabilities Disclosure [Text Block] | Note 5 Accrued expenses March 31, December 31, VAT and Sales taxes $ 528 $ 739 Payroll and related 742 847 Income taxes 573 610 Due to hotels 1,190 1,168 Rent 1,384 1,471 Legal, professional and other services 374 1,007 Insurance 302 103 Other 1,113 1,042 Totals $ 6,206 $ 6,987 |
Related party transactions
Related party transactions | 3 Months Ended |
Mar. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 6 - Related party transactions Net amounts due to related parties amounted to $ 1.4 1.5 The Company incurred legal fees of $ 31,000 0.1 50,000 0.2 0.3 The Company incurred approximately $ 0.1 0.8 14,000 11,000 During the fourth quarter of 2016, the Company received approximately $ 1.2 1.2 1.2 Please refer to Note 9 for details on other transactions with related parties. |
Revenue from contracts with cus
Revenue from contracts with customers | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Note 7 Revenue from contracts with customers On January 1, 2018, the Company adopted Accounting Standards Codification Topic 606 “Revenue from Contracts with Customers” (“ASC 606”), using the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under the new revenue recognition standard, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior periods. The Company recorded a net decrease to opening accumulated deficit of $ 0.1 Balance at ASC 606 Adjustments Balance at Liabilities Deferred license revenue, current $ 115 $ 100 $ 215 Deferred license revenue, long-term 1,222 (46) 1,176 Equity Accumulated deficit (31,979) (54) (32,033) Under ASC 606, because the services we provide that are related to initial license fees and upfront fees related to our license agreements do not contain separate and distinct performance obligations from the license right, these fees will be recognized on a straight line basis over the term of the licensee agreement. Under previous guidance, initial license fees were recognized when the related services had been provided, which was generally upon the opening of the restaurant, and upfront fees were recognized on a pro-rata basis as restaurants under the development agreement were opened. These fees will continue to be recorded as a component of management, license and incentive fee revenue on the consolidated statement of operations and comprehensive income (loss). ASC 606 requires sales-based royalties to continue to be recognized as licensee restaurant sales occur. For the quarter ended March 31, 2018 As Reported Balances Without Adoption Impact Revenues Management, license and incentive fee revenues 2,436 2,407 29 Net income 118 89 29 |
Stock-based Compensation
Stock-based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation [Text Block] | Note 8 - Stock-based Compensation As of March 31, 2018, the Company had 499,207 Stock-based compensation cost for the three months ended March 31, 2018 and 2017 was $ 0.3 0.2 Stock Option Activity Changes in outstanding stock options for 2018 were as follows: Shares Weighted Weighted Intrinsic Outstanding at December 31, 2017 2,315,035 3.41 2018 Grants Exercised Forfeited (80,000) 3.76 Outstanding at March 31, 2018 2,235,035 3.40 7.07 $ 888,040 Exercisable at March 31, 2018 849,384 4.84 4.54 $ 2,360 A summary of the status of the Company’s non-vested stock options as of March 31, 2018 and changes for the quarter then ended is presented below: Shares Weighted Non-vested shares at December 31, 2017 1,424,651 $ 0.99 Granted Vested Forfeited (39,000) 1.08 Non-vested shares at March 31, 2018 1,385,651 $ 0.99 As of March 31, 2018, there are 579,402 As of March 31, 2018, there is approximately $ 1.4 2.8 Restricted Stock Award Activity The Company issues restricted stock awards under the 2013 Equity Plan. The fair value of these awards is determined based upon the closing fair market value of the Company’s common stock on the grant date. Shares Weighted Non-vested at December 31, 2017 985,000 $ 2.26 Granted 59,834 2.75 Vested (100,000) 1.42 Forfeited (6,000) 2.73 Non-vested at March 31, 2018 938,834 $ 2.38 As of March 31, 2018, 250,000 $ 2.2 3.2 |
Nonconsolidated variable intere
Nonconsolidated variable interest entities | 3 Months Ended |
Mar. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Nonconsolidated variable interest entities [Text Block] | Note 9 Nonconsolidated variable interest entities As of December 31, 2017 and March 31, 2018, the Company’s equity method and cost method investments, for which the Company has determined it is not the primary beneficiary, consist of interests in the following companies, which directly or indirectly operate restaurants: · 31.24 · 51.13 · 10.00 Bagatelle Investors is a holding company that has an interest in Bagatelle NY. Both entities were formed in 2011. The Company has determined that it is not the primary beneficiary of these entities as it does not have the power to direct their day to day activities, but the Company is able to exercise influence over these entities. The Company has provided no additional types of support to these entities than what is contractually required. One 29 Park, formed in 2009, operates a restaurant and manages the rooftop of a hotel located in New York, NY. Until the fourth quarter of 2017, the Company accounted for its investment in One 29 Park under the equity method of accounting based on management’s assessment that the Company had significant influence over One 29 Park’s operations. In the fourth quarter of 2017, the majority ownership of One 29 Park changed. As a result of this ownership change, the Company believes that it no longer has significant influence over the operations of One 29 Park, and subsequently began accounting for its investment in One 29 Park under the cost method of accounting. In March 2018, the Company entered into an agreement to sell its 10 0.6 0 0.2 At March 31, 2018 and December 31, 2017, the carrying values of these investments were (in thousands): March 31, December 31, Bagatelle Investors $ 30 $ 33 Bagatelle NY 2,489 2,509 One 29 Park 415 Totals $ 2,519 $ 2,957 For the quarter ended 2018 2017 Equity in loss (income) of investee companies $ 23 $ (45) The Company has entered into management agreements with Bagatelle NY and One 29 Park. For Bagatelle, the Company recorded management fee revenue of approximately $ 37,000 48,000 0.1 0.1 43,000 0.1 |
Income taxes
Income taxes | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 10 Income taxes The Company’s effective income tax rate was 17.5 14.7 In December 2017, the President signed The Tax Cuts and Jobs Act (the “TCJA”), which includes a broad range of provisions. The TCJA contains several key provisions including: ⋅ A one-time tax on the mandatory deemed repatriation of post-1986 untaxed foreign earnings and profits (“E&;P”); ⋅ A reduction in the corporate tax rate from 35 21 ⋅ The introduction of a new U.S. tax on certain off-shore earnings referred to as Global Intangible Low-Taxed Income (“GILTI”) at an effective tax rate of 10.5 13.125 ⋅ Introduction of a territorial tax system beginning in 2018 by providing for a 100 Pursuant to the enactment of the TCJA, in the fourth quarter of 2017, the Company recorded an adjustment of $ 2.9 21 1.9 As mentioned above, the TCJA subjects a U.S. shareholder to current tax on GILTI earned by certain foreign subsidiaries. Financial Accounting Standards Board (“FASB”) Staff Q&;A, Topic 740 No. 5, Accounting for Global Intangible Low-Taxed Income, states that an entity can make an accounting policy election to either recognize deferred taxes for temporary differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI resulting from those items in the year the tax is incurred. The Company has elected to recognize the resulting tax on GILTI as a period expense in the period the tax is incurred and expects to incur no tax for the year ended December 31, 2018 due to the availability of foreign tax credits and net operating losses. |
Net Income per share
Net Income per share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Net Income Per Share [Text Block] | Note 11 Net income per share Three Months Ended 2018 2017 (in thousands, except earnings per share Net income (loss) attributable to The ONE Group Hospitality, Inc. $ 231 $ (402) Basic weighted average shares outstanding 27,187,657 25,050,628 Dilutive effect of stock options, warrants and restricted share units 200,841 Diluted weighted average shares outstanding 27,388,498 25,050,628 Net income (loss) available to common stockholders per share - Basic $ 0.01 $ (0.02) Net income (loss) available to common stockholders per share - Diluted $ 0.01 $ (0.02) Anti-dilutive stock options, warrants and restricted share units 2,114,437 For the three months ended March 31, 2017, all equivalent shares underlying options and warrants were excluded from the calculation of diluted earnings per share as the Company was in a net loss position. Basic and diluted earnings per share for discontinued operations was $ 0.00 Net income (loss) per share amounts for continuing operations and discontinued operations are computed independently. As a result, the sum of per share amounts may not equal the total. |
Litigation
Litigation | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies Disclosure [Text Block] | Note 12 Litigation The Company is subject to claims and legal actions in the ordinary course of business, including claims by or against its licensees, employees, former employees and others. The Company does not believe any currently pending or threatened matter would have a material adverse effect on its business, results of operations or financial condition. |
Segment reporting
Segment reporting | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Note 13 Segment reporting Three Months Ended 2018 2017 Revenues: Owned restaurants $ 15,076 $ 14,228 Owned food, beverage and other operations 2,005 3,885 Managed and licensed operations 2,436 2,314 $ 19,517 $ 20,427 Segment Profits: Owned restaurants $ 1,664 $ 983 Owned food, beverage and other operations 316 948 Managed and licensed operations 2,436 2,314 Total segment profit 4,416 4,245 General and administrative 3,055 2,921 Depreciation and amortization 778 866 Interest expense, net of interest income 318 259 Equity in loss (income) of investee companies 23 (45) Other, net 99 755 Income (loss) from continuing operations before provision for income taxes $ 143 $ (511) Total assets: March 31, December 31, Owned restaurants $ 40,285 $ 40,570 Owned food, beverage and other operations* 6,501 7,385 Managed and licensed operations 4,837 5,060 Total $ 51,623 $ 53,015 Capital asset additions: Three Months Ended 2018 2017 Owned restaurants $ 301 $ 1,236 Owned food, beverage and other operations** 5 117 Managed and licensed operations Total $ 306 $ 1,353 |
Geographic information
Geographic information | 3 Months Ended |
Mar. 31, 2018 | |
Geographic Information [Abstract] | |
Geographic Information Disclosure [Text Block] | Note 14 Geographic information The following table contains certain financial information by geographic location for the periods indicated (in thousands): Three Months Ended 2018 2017 United States: Owned restaurants $ 15,076 $ 14,228 Owned food, beverage and other operations 2,005 3,885 Managed and licensed operations 1,687 1,687 Total United States revenues $ 18,768 $ 19,800 Foreign: Owned restaurants $ $ Owned food, beverage and other operations Managed and licensed operations 749 627 Total foreign revenues $ 749 $ 627 Total revenues $ 19,517 $ 20,427 March 31, December 31, United States: Owned restaurants $ 37,451 $ 37,907 Owned food, beverage and other operations*** 4,768 5,088 Managed and licensed operations 92 109 Total United States long-lived assets $ 42,311 $ 43,104 Foreign: Owned restaurants $ $ Owned food, beverage and other operations Managed and licensed operations 120 148 Total foreign long-lived assets $ 120 $ 148 Total long-lived assets $ 42,431 $ 43,252 *** Includes corporate assets |
Inventory (Tables)
Inventory (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | Inventory consists of the following (in thousands) as of: March 31, December 31, Food $ 206 $ 246 Beverages 1,082 1,156 Totals $ 1,288 $ 1,402 |
Other current assets (Tables)
Other current assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Other Current Assets [Table Text Block] | Other current assets consists of the following (in thousands) as of: March 31, December 31, 2018 2017 Prepaid taxes $ 274 $ 255 Landlord receivable 258 258 Prepaid expenses 531 421 Other 446 365 Totals $ 1,509 $ 1,299 |
Accrued expenses (Tables)
Accrued expenses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Accruals [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | March 31, December 31, VAT and Sales taxes $ 528 $ 739 Payroll and related 742 847 Income taxes 573 610 Due to hotels 1,190 1,168 Rent 1,384 1,471 Legal, professional and other services 374 1,007 Insurance 302 103 Other 1,113 1,042 Totals $ 6,206 $ 6,987 |
Revenue from contracts with c25
Revenue from contracts with customers (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Prospective Adoption of New Accounting Pronouncements [Table Text Block] | Balance at ASC 606 Adjustments Balance at Liabilities Deferred license revenue, current $ 115 $ 100 $ 215 Deferred license revenue, long-term 1,222 (46) 1,176 Equity Accumulated deficit (31,979) (54) (32,033) The impact of adopting ASC 606 as compared to the previous recognition guidance on our consolidated statement of operations and comprehensive income (loss) was as follows (in thousands): For the quarter ended March 31, 2018 As Reported Balances Without Adoption Impact Revenues Management, license and incentive fee revenues 2,436 2,407 29 Net income 118 89 29 |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of stock option activity [Table Text Block] | Shares Weighted Weighted Intrinsic Outstanding at December 31, 2017 2,315,035 3.41 2018 Grants Exercised Forfeited (80,000) 3.76 Outstanding at March 31, 2018 2,235,035 3.40 7.07 $ 888,040 Exercisable at March 31, 2018 849,384 4.84 4.54 $ 2,360 |
Schedule of non-vested stock options [Table Text Block] | Shares Weighted Non-vested shares at December 31, 2017 1,424,651 $ 0.99 Granted Vested Forfeited (39,000) 1.08 Non-vested shares at March 31, 2018 1,385,651 $ 0.99 |
Schedule of restricted stock awards and changes [Table Text Block] | A summary of the status of restricted stock awards and changes for the three months ended March 31, 2018 are presented below: Shares Weighted Non-vested at December 31, 2017 985,000 $ 2.26 Granted 59,834 2.75 Vested (100,000) 1.42 Forfeited (6,000) 2.73 Non-vested at March 31, 2018 938,834 $ 2.38 |
Nonconsolidated variable inte27
Nonconsolidated variable interest entities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments [Table Text Block] | March 31, December 31, Bagatelle Investors $ 30 $ 33 Bagatelle NY 2,489 2,509 One 29 Park 415 Totals $ 2,519 $ 2,957 For the quarter ended 2018 2017 Equity in loss (income) of investee companies $ 23 $ (45) |
Net income per share (Tables)
Net income per share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Basic net income (loss) per share is computed using the weighted average number of common shares outstanding during the applicable period. Diluted net income (loss) per share is computed using the weighted average number of common shares outstanding during the period, plus the dilutive effect of potential common stock. Potential common stock consists of shares issuable pursuant to stock options and warrants. Three Months Ended 2018 2017 (in thousands, except earnings per share Net income (loss) attributable to The ONE Group Hospitality, Inc. $ 231 $ (402) Basic weighted average shares outstanding 27,187,657 25,050,628 Dilutive effect of stock options, warrants and restricted share units 200,841 Diluted weighted average shares outstanding 27,388,498 25,050,628 Net income (loss) available to common stockholders per share - Basic $ 0.01 $ (0.02) Net income (loss) available to common stockholders per share - Diluted $ 0.01 $ (0.02) Anti-dilutive stock options, warrants and restricted share units 2,114,437 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended 2018 2017 Revenues: Owned restaurants $ 15,076 $ 14,228 Owned food, beverage and other operations 2,005 3,885 Managed and licensed operations 2,436 2,314 $ 19,517 $ 20,427 Segment Profits: Owned restaurants $ 1,664 $ 983 Owned food, beverage and other operations 316 948 Managed and licensed operations 2,436 2,314 Total segment profit 4,416 4,245 General and administrative 3,055 2,921 Depreciation and amortization 778 866 Interest expense, net of interest income 318 259 Equity in loss (income) of investee companies 23 (45) Other, net 99 755 Income (loss) from continuing operations before provision for income taxes $ 143 $ (511) Total assets: March 31, December 31, Owned restaurants $ 40,285 $ 40,570 Owned food, beverage and other operations* 6,501 7,385 Managed and licensed operations 4,837 5,060 Total $ 51,623 $ 53,015 Capital asset additions: Three Months Ended 2018 2017 Owned restaurants $ 301 $ 1,236 Owned food, beverage and other operations** 5 117 Managed and licensed operations Total $ 306 $ 1,353 |
Geographic information (Tables)
Geographic information (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Geographic Information [Abstract] | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Revenues Three Months Ended 2018 2017 United States: Owned restaurants $ 15,076 $ 14,228 Owned food, beverage and other operations 2,005 3,885 Managed and licensed operations 1,687 1,687 Total United States revenues $ 18,768 $ 19,800 Foreign: Owned restaurants $ $ Owned food, beverage and other operations Managed and licensed operations 749 627 Total foreign revenues $ 749 $ 627 Total revenues $ 19,517 $ 20,427 |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Long-lived Assets March 31, December 31, United States: Owned restaurants $ 37,451 $ 37,907 Owned food, beverage and other operations*** 4,768 5,088 Managed and licensed operations 92 109 Total United States long-lived assets $ 42,311 $ 43,104 Foreign: Owned restaurants $ $ Owned food, beverage and other operations Managed and licensed operations 120 148 Total foreign long-lived assets $ 120 $ 148 Total long-lived assets $ 42,431 $ 43,252 *** Includes corporate assets |
Liquidity (Details Textual)
Liquidity (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accumulated deficit | $ (31,802) | $ (31,979) | ||
Cash and cash equivalents | $ 1,143 | $ 1,548 | $ 472 | $ 918 |
Inventory (Details)
Inventory (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Inventory [Line Items] | ||
Inventory | $ 1,288 | $ 1,402 |
Food [Member] | ||
Inventory [Line Items] | ||
Inventory | 206 | 246 |
Beverages [Member] | ||
Inventory [Line Items] | ||
Inventory | $ 1,082 | $ 1,156 |
Other current assets (Details)
Other current assets (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Prepaid taxes | $ 274 | $ 255 |
Landlord receivable | 258 | 258 |
Prepaid expenses | 531 | 421 |
Other | 446 | 365 |
Totals | $ 1,509 | $ 1,299 |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accruals [Abstract] | ||
VAT and Sales taxes | $ 528 | $ 739 |
Payroll and related | 742 | 847 |
Income taxes | 573 | 610 |
Due to hotels | 1,190 | 1,168 |
Rent | 1,384 | 1,471 |
Legal, professional and other services | 374 | 1,007 |
Insurance | 302 | 103 |
Other | 1,113 | 1,042 |
Totals | $ 6,206 | $ 6,987 |
Related Party Transactions (Det
Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Due to Related Parties | $ 1,400,000 | $ 1,500,000 | ||
TOG Liquidation Trust [Member] | ||||
Related Party Transaction, Amounts of Transaction | 1,200,000 | 1,200,000 | ||
Cash Advances [Member] | ||||
Due to Related Parties | $ 1,200,000 | |||
Construction Services [Member] | ||||
Due to Related Parties | 14,000 | 11,000 | ||
Costs and Expenses, Related Party | 100,000 | $ 800,000 | ||
Legal Fees [Member] | ||||
Costs and Expenses, Related Party | 31,000 | 100,000 | ||
Entity Owned by Stockholder [Member] | ||||
Due to Related Parties | 200,000 | $ 300,000 | ||
Revenue from Related Parties | $ 50,000 | |||
Rental Income [Member] | ||||
Revenue from Related Parties | $ 50,000 |
Revenue from contracts with c36
Revenue from contracts with customers (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Jan. 02, 2018 | Dec. 31, 2017 | |
Liabilities | ||||
Deferred license revenue, current | $ 215 | $ 115 | ||
Deferred license revenue, long-term | 1,477 | 1,222 | ||
Equity | ||||
Accumulated deficit | (31,802) | (31,979) | ||
Revenues | ||||
Management, license and incentive fee revenues | 2,436 | $ 2,314 | ||
Net income | 118 | $ (600) | ||
Previously Reported [Member] | ||||
Liabilities | ||||
Deferred license revenue, current | 115 | |||
Deferred license revenue, long-term | 1,222 | |||
Equity | ||||
Accumulated deficit | (31,979) | |||
Revenues | ||||
Management, license and incentive fee revenues | 2,436 | |||
Net income | 118 | |||
Restatement Adjustment [Member] | ||||
Liabilities | ||||
Deferred license revenue, current | $ 215 | |||
Deferred license revenue, long-term | 1,176 | |||
Equity | ||||
Accumulated deficit | (32,033) | |||
Adoption of ASC 606 [Member] | ||||
Equity | ||||
Accumulated deficit | $ 100 | |||
Revenues | ||||
Management, license and incentive fee revenues | 2,407 | |||
Net income | 89 | |||
Asc 606 Adjustments [Member] | ||||
Liabilities | ||||
Deferred license revenue, current | 100 | |||
Deferred license revenue, long-term | (46) | |||
Equity | ||||
Accumulated deficit | $ (54) | |||
Revenues | ||||
Management, license and incentive fee revenues | 29 | |||
Net income | $ 29 |
Revenue from contracts with c37
Revenue from contracts with customers (Details textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Jan. 02, 2018 | Dec. 31, 2017 |
Retained Earnings (Accumulated Deficit) | $ (31,802) | $ (31,979) | |
Adoption of ASC 606 [Member] | |||
Retained Earnings (Accumulated Deficit) | $ 100 |
Stock-based Compensation - Summ
Stock-based Compensation - Summary of Status of Company's Stock Option Activity (Details) | 3 Months Ended |
Mar. 31, 2018USD ($)$ / sharesshares | |
Shares | |
Outstanding at December 31, 2017 | shares | 2,315,035 |
2018 Grants | shares | 0 |
Exercised | shares | 0 |
Forfeited | shares | (80,000) |
Outstanding at March 31, 2018 | shares | 2,235,035 |
Exercisable at March 31, 2018 | shares | 849,384 |
Weighted Average Exercise Price | |
Weighted Average Exercise Price Outstanding at December 31, 2017 | $ / shares | $ 3.41 |
Weighted Average Exercise Price 2018 Grants | $ / shares | 0 |
Weighted Average Exercise Price Exercised | $ / shares | 0 |
Weighted Average Exercise Price Forfeited | $ / shares | 3.76 |
Weighted Average Exercise Price Outstanding at March 31, 2018 | $ / shares | 3.40 |
Weighted Average Exercise Price Exercisable at March 31, 2018 | $ / shares | $ 4.84 |
Weighted Average Remaining Contractual Life (Years) | |
Weighted Average Remaining Contractual Life Outstanding at March 31, 2018 | 7 years 25 days |
Weighted Average Remaining Contractual Life Exercisable at March 31, 2018 | 4 years 6 months 14 days |
Intrinsic Value | |
Intrinsic Value Outstanding at March 31, 2018 | $ | $ 888,040 |
Intrinsic Value Exercisable at March 31, 2018 | $ | $ 2,360 |
Stock-based Compensation - Su39
Stock-based Compensation - Summary of non-vested stock options (Details 1) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Shares | |
Non-vested shares at December 31, 2017 | shares | 1,424,651 |
Granted | shares | 0 |
Vested | shares | 0 |
Forfeited | shares | (39,000) |
Non-vested shares at March 31, 2018 | shares | 1,385,651 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Date Fair Valuet December 31, 2017 | $ / shares | $ 0.99 |
Weighted Average Grant Date Fair Value Granted | $ / shares | 0 |
Weighted Average Grant Date Fair Value Vested | $ / shares | 0 |
Weighted Average Grant Date Fair Value Forfeited | $ / shares | 1.08 |
Weighted Average Grant Date Fair Value March 31, 2018 | $ / shares | $ 0.99 |
Stock-based Compensation - Su40
Stock-based Compensation - Summary of Status of Company's Restricted Stock Option Activity (Details 2) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Shares | |
Forfeited | shares | (39,000) |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Date Fair Value Forfeited | $ / shares | $ 1.08 |
Restricted Stock [Member] | |
Shares | |
Non-vested at December 31, 2017 (in shares) | shares | 985,000 |
Granted | shares | 59,834 |
Vested | shares | (100,000) |
Forfeited | shares | (6,000) |
Non-vested at March 31, 2018 | shares | 938,834 |
Weighted Average Grant Date Fair Value | |
Weighted Average Grant Date Fair Value Non-vested at December 31, 2017 | $ / shares | $ 2.26 |
Weighted Average Grant Date Fair Value Granted | $ / shares | 2.75 |
Weighted Average Grant Date Fair Value Vested | $ / shares | 1.42 |
Weighted Average Grant Date Fair Value Forfeited | $ / shares | 2.73 |
Weighted Average Grant Date Fair Value Non-vested at March 31, 2018 | $ / shares | $ 2.38 |
Stock-based Compensation (Detai
Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,235,035 | 2,315,035 | |
Share-based Compensation | $ 324 | $ 153 | |
Equity Incentive Plan 2013 [Member] | |||
Common Stock, Capital Shares Reserved for Future Issuance | 499,207 | ||
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 579,402 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 1,400 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 9 months 18 days | ||
Restricted Stock [Member] | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 2,200 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 2 months 12 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 250,000 |
Nonconsolidated variable inte42
Nonconsolidated variable interest entities (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 2,519 | $ 2,957 | |
Equity in loss (income) of investee companies | 23 | $ (45) | |
Bagatelle Investors [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | 30 | 33 | |
Bagatelle NY [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | 2,489 | 2,509 | |
One 29 Park [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 0 | $ 415 |
Nonconsolidated variable inte43
Nonconsolidated variable interest entities (Details Textual) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Bagatelle NY LA Investors, LLC (Bagatelle Investors) [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 31.24% | 31.24% | |
Bagatelle Little West 12th, LLC (Bagatelle NY) [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 51.13% | 51.13% | |
One 29 Park LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 10.00% | 10.00% | |
Management Fees Revenue | $ 100,000 | $ 100,000 | |
Other than Temporary Impairment Losses, Investments | 0 | ||
Gain (Loss) on Sale of Investments | 200,000 | ||
Noncontrolling Interest in Variable Interest Entity | 600,000 | ||
Bagatelle La Cienega, LLC (Bagatelle LA) [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Management Fees Revenue | 37,000 | $ 48,000 | |
Due from Related Parties, Current | $ 43,000 | $ 100,000 |
Income taxes (Details Textual)
Income taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent | 17.50% | 14.70% | |||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 2.9 | ||||
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | 21.00% | ||||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 0 | ||||
Effective Income Tax Rate Reconciliation, Deduction, Dividend, Percent | 100.00% | ||||
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount | $ 1.9 | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | ||||
Scenario, Plan [Member] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||
Tax Year 2017 [Member] | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | 10.50% | ||||
Tax Year 2025 [Member] | |||||
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | 13.125% |
Net income per share (Details)
Net income per share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income (loss) attributable to The ONE Group Hospitality, Inc. | $ 231 | $ (402) |
Basic weighted average shares outstanding | 27,187,657 | 25,050,628 |
Dilutive effect of stock options, warrants and restricted share units | 200,841 | 0 |
Diluted weighted average shares outstanding | 27,388,498 | 25,050,628 |
Net income (loss) available to common stockholders per share - Basic | $ 0.01 | $ (0.02) |
Net income (loss) available to common stockholders per share - Diluted | $ 0.01 | $ (0.02) |
Anti-dilutive stock options, warrants and restricted share units | 2,114,437 | 0 |
Net income per share (Details T
Net income per share (Details Textual) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share, Basic and Diluted | $ 0.01 | $ (0.02) |
Segment reporting (Details)
Segment reporting (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 19,517 | $ 20,427 |
Operating Income (Loss) | 461 | (252) |
General and administrative | 3,055 | 2,921 |
Depreciation and amortization | 778 | 866 |
Interest expense, net of interest income | 318 | 259 |
Income (loss) from continuing operations before provision for income taxes | 143 | (511) |
Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 19,517 | 20,427 |
Operating Income (Loss) | 4,416 | 4,245 |
General and administrative | 3,055 | 2,921 |
Depreciation and amortization | 778 | 866 |
Interest expense, net of interest income | 318 | 259 |
Equity in loss (income) of investee companies | 23 | (45) |
Other, net | 99 | 755 |
Income (loss) from continuing operations before provision for income taxes | 143 | (511) |
Operating Segments [Member] | Owned restaurants [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 15,076 | 14,228 |
Operating Income (Loss) | 1,664 | 983 |
Operating Segments [Member] | Owned food, beverage and other operations [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 2,005 | 3,885 |
Operating Income (Loss) | 316 | 948 |
Operating Segments [Member] | Managed and licensed operations [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 2,436 | 2,314 |
Operating Income (Loss) | $ 2,436 | $ 2,314 |
Segment reporting (Details 1)
Segment reporting (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Total | $ 51,623 | $ 53,015 | ||
Total | 306 | $ 1,353 | ||
Owned restaurants [Member] | ||||
Total | 301 | 1,236 | ||
Owned food, beverage and other operations [Member] | ||||
Total | [1] | 5 | 117 | |
Managed and licensed operations [Member] | ||||
Total | 0 | $ 0 | ||
Operating Segments [Member] | ||||
Total | 51,623 | 53,015 | ||
Operating Segments [Member] | Owned restaurants [Member] | ||||
Total | 40,285 | 40,570 | ||
Operating Segments [Member] | Owned food, beverage and other operations [Member] | ||||
Total | [2] | 6,501 | 7,385 | |
Operating Segments [Member] | Managed and licensed operations [Member] | ||||
Total | $ 4,837 | $ 5,060 | ||
[1] | Includes corporate capital asset additions | |||
[2] | Includes corporate assets |
Geographic information (Details
Geographic information (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | ||
Revenues | $ 19,517 | $ 20,427 | ||
Long-lived Assets | 42,431 | $ 43,252 | ||
UNITED STATES | ||||
Revenues | 18,768 | 19,800 | ||
Long-lived Assets | 42,311 | 43,104 | ||
UNITED STATES | Owned restaurants [Member] | ||||
Revenues | 15,076 | 14,228 | ||
Long-lived Assets | 37,451 | 37,907 | ||
UNITED STATES | Owned food, beverage and other operations [Member] | ||||
Revenues | 2,005 | 3,885 | ||
Long-lived Assets | [1] | 4,768 | 5,088 | |
UNITED STATES | Managed and licensed operations [Member] | ||||
Revenues | 1,687 | 1,687 | ||
Long-lived Assets | 92 | 109 | ||
Non-US [Member] | ||||
Revenues | 749 | 627 | ||
Long-lived Assets | 120 | 148 | ||
Non-US [Member] | Owned restaurants [Member] | ||||
Revenues | 0 | 0 | ||
Long-lived Assets | 0 | 0 | ||
Non-US [Member] | Owned food, beverage and other operations [Member] | ||||
Revenues | 0 | 0 | ||
Long-lived Assets | 0 | 0 | ||
Non-US [Member] | Managed and licensed operations [Member] | ||||
Revenues | 749 | $ 627 | ||
Long-lived Assets | $ 120 | $ 148 | ||
[1] | Includes corporate assets |