Planet Fitness (PLNT) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	PLNT
Entity Registrant Name	PLANET FITNESS, INC.
Entity Central Index Key	1,637,207
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		85,783,274
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,580,088

Condensed consolidated balance

Condensed consolidated balance sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 93,267	$ 40,393
Accounts receivable, net of allowance for bad debts of $95 and $687 at September 30, 2017 and December 31, 2016, respectively	16,358	26,873
Due from related parties	2,984	2,864
Inventory	550	1,802
Restricted assets – national advertising fund	3,014	3,074
Other receivables	10,768	7,935
Other current assets	8,623	8,284
Total current assets	135,564	91,225
Property and equipment, net of accumulated depreciation of $33,546 as of September 30, 2017 and $30,987 as of December 31, 2016	72,426	61,238
Intangible assets, net	239,741	253,862
Goodwill	176,981	176,981
Deferred income taxes	731,131	410,407
Other assets, net	10,177	7,729
Total assets	1,366,020	1,001,442
Current liabilities:
Current maturities of long-term debt	7,185	7,185
Accounts payable	12,826	28,507
Accrued expenses	13,357	19,190
Equipment deposits	8,121	2,170
Restricted liabilities – national advertising fund	3,008	134
Deferred revenue, current	17,124	17,780
Payable to related parties pursuant to tax benefit arrangements, current	24,487	8,072
Other current liabilities	438	235
Total current liabilities	86,546	83,273
Long-term debt, net of current maturities	697,876	702,003
Deferred rent, net of current portion	5,289	5,108
Deferred revenue, net of current portion	8,180	8,351
Deferred tax liabilities	751	1,238
Payable to related parties pursuant to tax benefit arrangements, net of current portion	702,906	410,999
Other liabilities	4,111	5,225
Total noncurrent liabilities	1,419,113	1,132,924
Commitments and contingencies (note 11)
Stockholders' equity (deficit):
Accumulated other comprehensive loss	(1,013)	(1,174)
Additional paid in capital	11,693	34,467
Accumulated deficit	(127,513)	(164,062)
Total stockholders' deficit attributable to Planet Fitness Inc.	(116,823)	(130,759)
Non-controlling interests	(22,816)	(83,996)
Total stockholders' deficit	(139,639)	(214,755)
Total liabilities and stockholders' deficit	1,366,020	1,001,442
Class A Common Stock [Member]
Stockholders' equity (deficit):
Common stock, value	9	6
Class B Common Stock [Member]
Stockholders' equity (deficit):
Common stock, value	$ 1	$ 4

Condensed consolidated balance3

Condensed consolidated balance sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable, allowance for bad debts	$ 95	$ 687
Property and equipment, accumulated depreciation	$ 33,546	$ 30,987
Class A Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	85,682,000	61,314,000
Common stock, shares outstanding	85,682,000	61,314,000
Class B Common Stock [Member]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	12,682,000	37,185,000
Common stock, shares outstanding	12,682,000	37,185,000

Condensed consolidated statemen

Condensed consolidated statements of operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue:
Franchise	$ 31,413	$ 23,046	$ 94,485	$ 70,042
Commission income	4,149	4,179	15,668	14,338
Corporate-owned stores	28,560	26,675	83,886	78,756
Equipment	33,374	33,107	101,875	98,686
Total revenue	97,496	87,007	295,914	261,822
Operating costs and expenses:
Cost of revenue	25,819	25,925	78,395	77,365
Store operations	15,551	15,181	45,339	45,673
Selling, general and administrative	14,071	12,244	42,659	36,470
Depreciation and amortization	8,137	7,745	23,982	23,127
Other loss (gain)	(36)	(241)	280	(406)
Total operating costs and expenses	63,542	60,854	190,655	182,229
Income from operations	33,954	26,153	105,259	79,593
Other expense, net:
Interest expense, net	(8,920)	(6,291)	(26,711)	(18,819)
Other (expense) income	408	(204)	157	30
Total other expense, net	(8,512)	(6,495)	(26,554)	(18,789)
Income before income taxes	25,442	19,658	78,705	60,804
Provision for income taxes	6,540	4,795	23,933	11,504
Net income	18,902	14,863	54,772	49,300
Less net income attributable to non-controlling interests	3,557	11,438	18,173	38,374
Net income attributable to Planet Fitness, Inc.	$ 15,345	$ 3,425	$ 36,599	$ 10,926
Class A Common Stock [Member]
Net income per share of Class A common stock:
Basic	$ 0.18	$ 0.08	$ 0.48	$ 0.28
Diluted	$ 0.18	$ 0.08	$ 0.48	$ 0.28
Weighted-average shares of Class A common stock outstanding:
Basic	85,662,650	44,668,875	76,391,277	39,394,318
Diluted	85,734,456	44,685,696	76,434,819	39,397,486

Condensed consolidated stateme5

Condensed consolidated statements of comprehensive income (loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income including non-controlling interests	$ 18,902	$ 14,863	$ 54,772	$ 49,300
Other comprehensive income (loss), net:
Unrealized gain (loss) on interest rate caps, net of tax	374	193	730	(469)
Foreign currency translation adjustments	20	11	25	(84)
Total other comprehensive income (loss), net	394	204	755	(553)
Total comprehensive income including non-controlling interests	19,296	15,067	55,527	48,747
Less: total comprehensive income attributable to non-controlling interests	3,631	11,572	18,384	37,964
Total comprehensive income attributable to Planet Fitness, Inc.	$ 15,665	$ 3,495	$ 37,143	$ 10,783

Condensed consolidated stateme6

Condensed consolidated statements of cash flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 54,772	$ 49,300
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,982	23,127
Amortization of deferred financing costs	1,439	1,114
Amortization of favorable leases and asset retirement obligations	260	297
Amortization of interest rate caps	1,552	459
Deferred tax expense	21,344	11,062
Loss on extinguishment of debt	79
Third party debt refinancing expense	1,021
Gain on re-measurement of tax benefit arrangement	(541)
Provision for bad debts	44	44
Gain on disposal of property and equipment	(357)	(347)
Equity-based compensation	1,800	1,373
Changes in operating assets and liabilities, excluding effects of acquisitions:
Accounts receivable	11,099	4,898
Due to and due from related parties	(580)	8,494
Inventory	1,253	3,798
Other assets and other current assets	(2,413)	(1,635)
Accounts payable and accrued expenses	(16,985)	(10,172)
Other liabilities and other current liabilities	(724)	(30)
Income taxes	(1,462)	(7,543)
Payable to related parties pursuant to tax benefit arrangements	(7,909)	(6,007)
Equipment deposits	5,951	(1,609)
Deferred revenue	(958)	(1,264)
Deferred rent	361	379
Net cash provided by operating activities	93,028	75,738
Cash flows from investing activities:
Additions to property and equipment	(23,229)	(9,266)
Proceeds from sale of property and equipment	166	402
Net cash used in investing activities	(23,063)	(8,864)
Cash flows from financing activities:
Principal payments on capital lease obligations		(37)
Repayment of long-term debt	(5,388)	(3,825)
Payment of deferred financing and other debt-related costs	(1,278)
Premiums paid for interest rate caps	(366)
Proceeds from issuance of Class A common stock	172	79
Repurchase and retirement of Class B common stock		(1,583)
Dividend equivalent payments	(1,322)
Distributions to Continuing LLC Members	(9,308)	(27,071)
Net cash used in financing activities	(17,490)	(32,437)
Effects of exchange rate changes on cash and cash equivalents	399	87
Net increase in cash and cash equivalents	52,874	34,524
Cash and cash equivalents, beginning of period	40,393	31,430
Cash and cash equivalents, end of period	93,267	65,954
Supplemental cash flow information:
Net cash paid for income taxes	3,769	8,121
Cash paid for interest	23,637	17,187
Non-cash investing activities:
Non-cash additions to property and equipment	$ 482	$ 127

Condensed consolidated stateme7

Condensed consolidated statement of changes in equity (deficit) - 9 months ended Sep. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Accumulated Other Comprehensive (Loss) Income [Member]	Additional Paid-in capital [Member]	Accumulated Deficit [Member]	Non-Controlling Interests [Member]	Class A Common Stock [Member]	Class A Common Stock [Member]Common Stock [Member]	Class B Common Stock [Member]	Class B Common Stock [Member]Common Stock [Member]
Beginning balance at Dec. 31, 2016	$ (214,755)	$ (1,174)	$ 34,467	$ (164,062)	$ (83,996)		$ 6		$ 4
Beginning balance (shares) at Dec. 31, 2016						61,314		37,185
Net income	54,772			36,599	18,173
Equity-based compensation expense	1,800		1,834	(34)
Exchanges of Class B common stock, value issued					51,253		3
Exchanges of Class B common stock, shares issued						24,353
Exchanges of Class B common stock, shares exchanged								(24,353)
Exchanges of Class B common stock, value exchanged		(383)	(50,870)						(3)
Retirement of Class B common stock, shares								(150)
Exercise of stock options	173		173
Exercise of stock options, shares						15
Tax benefit arrangement liability and deferred taxes arising from secondary offerings and other exchanges	26,089		26,089
Forfeiture of dividend equivalents	449			32	417
Distributions paid to members of Pla-Fit Holdings	(8,922)			(48)	(8,874)
Other comprehensive income	755	544			211
Ending balance at Sep. 30, 2017	$ (139,639)	$ (1,013)	$ 11,693	$ (127,513)	$ (22,816)		$ 9		$ 1
Ending balance (shares) at Sep. 30, 2017						85,682		12,682

Business organization

Business organization	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Business organization	(1) Business organization Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with more than 10.5 million members and 1,432 owned and franchised locations (referred to as stores) in 49 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic as of September 30, 2017. The Company serves as the reporting entity for its various subsidiaries that operate three distinct lines of business: • Licensing and selling franchises under the Planet Fitness trade name. • Owning and operating fitness centers under the Planet Fitness trade name. • Selling fitness-related equipment to franchisee-owned stores. The Company was formed as a Delaware corporation on March 16, 2015 for the purpose of facilitating an initial public offering (the “IPO”) which was completed on August 11, 2015 and related transactions in order to carry on the business of Pla-Fit Holdings, LLC and its subsidiaries (“Pla-Fit Holdings”). As of August 5, 2015, in connection with the recapitalization transactions that occurred prior to the IPO, the Company became the sole managing member and holder of 100% of the voting power of Pla-Fit Holdings. Pla-Fit Holdings owns 100% of Planet Intermediate, LLC which has no operations but is the 100% owner of Planet Fitness Holdings, LLC, a franchisor and operator of fitness centers. With respect to the Company, Pla-Fit Holdings and Planet Intermediate, LLC, each entity owns nothing other than the respective entity below it in the corporate structure and each entity has no other material operations. Subsequent to the IPO and the related recapitalization transactions, the Company is a holding company whose principal asset is a controlling equity interest in Pla-Fit Holdings. As the sole managing member of Pla-Fit Holdings, the Company operates and controls all of the business and affairs of Pla-Fit Holdings, and through Pla-Fit Holdings, conducts its business. As a result, the Company consolidates Pla-Fit Holdings’ financial results and reports a non-controlling interest related to the portion of limited liability company units of Pla-Fit Holdings (“Holdings Units”) not owned by the Company. Unless otherwise specified, “the Company” refers to both Planet Fitness, Inc. and Pla-Fit Holdings throughout the remainder of these notes. In March 2017, the Company completed a secondary offering (“March Secondary Offering”) of 15,000,000 shares of its Class A common stock at a price of $20.44 per share. All of the shares sold in the March Secondary Offering were offered by certain existing holders of Holdings Units and TSG AIV II-A L.P and TSG PF Co-Investors A L.P. (“Direct TSG Investors”), funds affiliated with TSG Consumer Partners, LLC (“TSG”). The Company did not receive any proceeds from the sale of shares of Class A common stock offered by the Direct TSG Investors and the participating holders of Holdings Units. The shares sold in the March Secondary Offering consisted of (i) 4,790,758 existing shares of Class A common stock held by the Direct TSG Investors and (ii) 10,209,242 newly-issued shares of Class A common stock issued in connection with the exercise of the exchange right by the holders of Holdings Units that participated in the March Secondary Offering. Simultaneously, and in connection with the exchange, 10,209,242 shares of Class B common stock were surrendered by the holders of Holdings Units that participated in the March Secondary Offering and canceled. Additionally, in connection with the exchange, Planet Fitness, Inc. received 10,209,242 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. In May 2017, the Company completed a secondary offering (“May Secondary Offering”) of 16,085,510 shares of its Class A common stock at a price of $20.28 per share. All of the shares sold in the May Secondary Offering were offered by certain existing holders of Holdings Units and the Direct TSG Investors, funds affiliated with TSG. The Company did not receive any proceeds from the sale of shares of Class A common stock offered by the Direct TSG Investors and the participating holders of Holdings Units. The shares sold in the May Secondary Offering consisted of (i) 5,215,691 existing shares of Class A common stock held by the Direct TSG Investors and (ii) 10,869,819 newly-issued shares of Class A common stock issued in connection with the exercise of the exchange right by the holders of Holdings Units that participated in the May Secondary Offering. Simultaneously, and in connection with the exchange, 10,869,819 shares of Class B common stock were surrendered by the holders of Holdings Units that participated in the May Secondary Offering and canceled. Additionally, in connection with the exchange, Planet Fitness, Inc. received 10,869,819 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. In addition to the March Secondary Offering and May Secondary Offering, during the nine months ended September 30, 2017, certain existing holders of Holdings Units have exercised their exchange rights and exchanged 3,273,955 Holdings Units for 3,273,955 newly-issued shares of Class A common stock. Simultaneously, and in connection with these exchanges, 3,273,955 shares of Class B common stock were surrendered by the holders of Holdings Units that exercised their exchange rights and canceled. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 3,273,955 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. Following the completion of the March Secondary Offering, May Secondary Offering and other exchanges described above, and as of September 30, 2017, Planet Fitness, Inc. held 100% of the voting interest and 87.1% of the economic interest of Pla-Fit Holdings and the holders of Holdings Units of Pla-Fit Holdings (the “Continuing LLC Owners”) held the remaining 12.9% economic interest in Pla-Fit Holdings. As future exchanges of Holdings Units occur, Planet Fitness, Inc.’s economic interest in Pla-Fit Holdings will increase.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of significant accounting policies	(2) Summary of significant accounting policies (a) Basis of presentation and consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements as of and for the three and nine months ended September 30, 2017 and 2016 are unaudited. The condensed consolidated balance sheet as of December 31, 2016 has been derived from the audited financial statements at that date but does not include all of the disclosures required by U.S. GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 (the “Annual Report”) filed with the SEC on March 6, 2017 . As discussed in Note 1, as a result of the recapitalization transactions, Planet Fitness, Inc. consolidates Pla-Fit Holdings. The Company also consolidates entities in which it has a controlling financial interest, the usual condition of which is ownership of a majority voting interest. The Company also considers for consolidation certain interests where the controlling financial interest may be achieved through arrangements that do not involve voting interests. Such an entity, known as a variable interest entity (“VIE”), is required to be consolidated by its primary beneficiary. The primary beneficiary of a VIE is considered to possess the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses or the rights to receive benefits from the VIE that are significant to it. The principal entities in which the Company possesses a variable interest include franchise entities and certain other entities. The Company is not deemed to be the primary beneficiary for Planet Fitness franchise entities. Therefore, these entities are not consolidated. The results of the Company have been consolidated with Matthew Michael Realty LLC (“MMR”) and PF Melville LLC (“PF Melville”) based on the determination that the Company is the primary beneficiary with respect to these VIEs. These entities are real estate holding companies that derive a majority of their financial support from the Company through lease agreements for corporate stores. See Note 3 for further information related to the Company’s VIEs. (b) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the consolidated financial statements include revenue recognition, valuation of assets and liabilities in connection with acquisitions, valuation of equity-based compensation awards, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, income taxes, including deferred tax assets and liabilities and reserves for unrecognized tax benefits, and the liability for the Company’s tax benefit arrangements. (c) Fair Value ASC 820, Fair Value Measurements and Disclosures Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The table below presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016: Quoted Significant Total fair prices other Significant value at in active observable unobservable September 30, markets inputs inputs 2017 (Level 1) (Level 2) (Level 3) Interest rate caps $ 194 $ — $ 194 $ — Quoted Significant Total fair prices other Significant value at in active observable unobservable December 31, markets inputs inputs 2016 (Level 1) (Level 2) (Level 3) Interest rate caps $ 306 $ — $ 306 $ — (d) Recent accounting pronouncements The FASB issued ASU No. 2014-09, Revenue from Contracts with Customers The FASB issued ASU No. 2016-02, Leases The FASB issued ASU No. 2016-09, Stock Compensation The FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments The FASB issued ASU No. 2017-04, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, The FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,

Variable interest entities

Variable interest entities	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable interest entities	(3) Variable interest entities The carrying values of VIEs included in the consolidated financial statements as of September 30, 2017 and December 31, 2016 are as follows: September 30, 2017 December 31, 2016 Assets Liabilities Assets Liabilities PF Melville $ 4,333 $ — $ 4,071 $ — MMR 3,309 — 3,156 — Total $ 7,642 $ — $ 7,227 $ — The Company also has variable interests in certain franchisees mainly through the guarantee of certain debt and lease agreements by the Company and by certain related parties to franchisees. The Company’s maximum obligation, as a result of its guarantees of leases and debt, is approximately $1,039 and $1,350 as of September 30, 2017 and December 31, 2016, respectively. The amount of the Company’s maximum obligation represents a loss that the Company could incur from the variability in credit exposure without consideration of possible recoveries through insurance or other means. In addition, the amount bears no relation to the ultimate settlement anticipated to be incurred from the Company’s involvement with these entities, which is estimated at $0.

Goodwill and intangible assets

Goodwill and intangible assets	9 Months Ended
	Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	(4) Goodwill and intangible assets A summary of goodwill and intangible assets at September 30, 2017 and December 31, 2016 is as follows: Weighted average Gross amortization carrying Accumulated Net carrying September 30, 2017 period (years) amount amortization Amount Customer relationships 11.1 $ 171,782 (83,179 ) $ 88,603 Noncompete agreements 5.0 14,500 (14,201 ) 299 Favorable leases 7.5 2,935 (1,898 ) 1,037 Order backlog 0.4 3,400 (3,400 ) — Reacquired franchise rights 5.8 8,950 (5,448 ) 3,502 201,567 (108,126 ) 93,441 Indefinite-lived intangible: Trade and brand names N/A 146,300 — 146,300 Total intangible assets $ 347,867 $ (108,126 ) $ 239,741 Goodwill $ 176,981 $ — $ 176,981 Weighted average Gross amortization carrying Accumulated Net carrying December 31, 2016 period (years) amount amortization Amount Customer relationships 11.1 $ 171,782 $ (72,655 ) $ 99,127 Noncompete agreements 5.0 14,500 (12,027 ) 2,473 Favorable leases 7.5 2,935 (1,643 ) 1,292 Order backlog 0.4 3,400 (3,400 ) — Reacquired franchise rights 5.8 8,950 (4,280 ) 4,670 201,567 (94,005 ) 107,562 Indefinite-lived intangible: Trade and brand names N/A 146,300 — 146,300 Total intangible assets $ 347,867 $ (94,005 ) $ 253,862 Goodwill $ 176,981 $ — $ 176,981 The Company determined that no impairment charges were required during any periods presented. Amortization expense related to the intangible assets totaled $4,697 and $4,940 for the three months ended September 30, 2017 and 2016 three months ended September 30, 2017 and 2016 Amount Remainder of 2017 $ 4,093 2018 14,583 2019 14,215 2020 12,517 2021 12,422 Thereafter 35,611 Total $ 93,441

Long-term debt

Long-term debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-term debt	(5) Long-term debt Long-term debt as of September 30, 2017 and December 31, 2016 consists of the following: September 30, 2017 December 31, 2016 Term loan B requires quarterly installments plus interest through the term of the loan, maturing March 31, 2021. Outstanding borrowings bear interest at LIBOR or base rate (as defined) plus a margin at the election of the borrower (4.26% at September 30, 2017 and 4.33% at December 31, 2016) $ 711,266 $ 716,654 Revolving credit line, requires interest only payments through the term of the loan, maturing March 31, 2019. Outstanding borrowings bear interest at LIBOR or base rate (as defined) plus a margin at the election of the borrower (6.00% at both September 30, 2017 and December 31, 2016) — — Total debt, excluding deferred financing costs $ 711,266 716,654 Deferred financing costs, net of accumulated amortization (6,205 ) (7,466 ) Total debt 705,061 709,188 Current portion of long-term debt and line of credit 7,185 7,185 Long-term debt, net of current portion $ 697,876 $ 702,003 On May 26, 2017, the Company amended the credit agreement governing its senior secured credit facility to reduce the applicable interest rate margin for term loan borrowings by 50 basis points, with an additional 25 basis point reduction in applicable interest rate possible in the future so long as the Total Net Leverage Ratio (as defined in the credit agreement) is less than 3.50 to 1.00. The amendment to the credit agreement also reduced the interest rate margin for revolving loan borrowings by 25 basis points. In connection with the amendment to the credit agreement, during the three months ended June 30, 2017, the Company capitalized deferred financing costs of $257, recorded expense of $1,021 related to certain third party fees included in other expense on the consolidated statement of operations, and a loss on extinguishment of debt of $79 included in interest expense on the consolidated statement of operations. Term loan B payments are payable in quarterly installments with the final scheduled principal payment on the outstanding term loan borrowings due on March 31, 2021. Future annual principal payments of long-term debt as of September 30, 2017 are as follows: Amount Remainder of 2017 $ 1,796 2018 7,185 2019 7,185 2020 7,185 2021 687,915 Total $ 711,266

Derivative instruments and hedg

Derivative instruments and hedging activities	9 Months Ended
	Sep. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	(6) Derivative instruments and hedging activities The Company utilizes interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not enter into derivative instruments for any purpose other than cash flow hedging. The Company does not speculate using derivative instruments. By using derivative financial instruments to hedge exposures to changes in interest rates, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is an asset, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is a liability, the Company owes the counterparty and, therefore, the Company is not exposed to the counterparty’s credit risk in those circumstances. The Company minimizes counterparty credit risk in derivative instruments by entering into transactions with high-quality counterparties whose credit rating is higher than A1/A+ at the inception of the derivative transaction. The derivative instruments entered into by the Company do not contain credit-risk-related contingent features. Market risk is the adverse effect on the value of a derivative instrument that results from a change in interest rates. The market risk associated with interest-rate contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. The Company assesses interest rate risk by continually identifying and monitoring changes in interest rate exposures that may adversely impact expected future cash flows and by evaluating hedging opportunities. The Company monitors interest rate risk attributable to both the Company’s outstanding or forecasted debt obligations as well as the Company’s offsetting hedge positions. In order to manage the market risk arising from the outstanding term loans, the Company has entered into a series of interest rate caps. The Company entered into two additional interest rate caps effective March 31, 2017 and terminating on March 31, 2019 with variable notional amounts in order to hedge one month LIBOR greater than 2.5%. As of September 30, 2017, the Company had interest rate cap agreements with notional amounts of $175,000 outstanding that were entered into in order to hedge three month LIBOR greater than 1.5%, and interest rate cap agreements with notional amounts of $181,531 that were entered into in order to hedge one month LIBOR greater than 2.5%. The interest rate cap balances of $194 and $306 were recorded within other assets in the condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016, respectively. These amounts have been measured at fair value and are considered to be a Level 2 fair value measurement. The Company recorded an increase to the value of its interest rate caps of $356, net of tax of $145 and $193, net of tax of $45, within other comprehensive income (loss) during the three months ended September 30, 2017 and 2016, respectively, and an increase to the value of its interest rate caps of $730, net of tax of $344 and a reduction to the value of its interest rate caps of $469, net of tax of $83, within other comprehensive income (loss) during the nine months ended September 30, 2017 and 2016, respectively. As of September 30, 2017, the Company does not expect to reclassify any amounts included in accumulated other comprehensive income (loss) into earnings during the next 12 months. Transactions and events expected to occur over the next 12 months that could necessitate reclassifying these derivatives’ loss to earnings include the re-pricing of variable-rate debt.

Related party transactions

Related party transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related party transactions	(7) Related party transactions Amounts due from related parties of $2,984 and $2,864 as of September 30, 2017 and December 31, 2016, respectively, primarily relate to currently due or potential reimbursements for certain taxes accrued or paid by the Company (see Note 10). Activity with entities considered to be related parties is summarized below: For the three months ended September 30, For the nine months ended September 30, 2017 2016 2017 2016 Franchise revenue $ 344 $ 359 $ 1,174 $ 1,174 Equipment revenue 4 3 577 770 Total revenue from related parties $ 348 $ 362 $ 1,751 $ 1,944 Additionally, the Company had deferred area development agreement revenue from related parties of $257 and $422 as of September 30, 2017 and December 31, 2016, respectively. As of September 30, 2017, the Company had $727,393 payable to related parties pursuant to tax benefit arrangements (see Note 10). The Company provides administrative services to the Planet Fitness NAF, LLC (“NAF”) and charges NAF a fee for providing those services. These services include accounting services, information technology, data processing, product development, legal and administrative support, and other operating expenses, which amounted to $643 and $438 for the three months ended September 30, 2017 and 2016, respectively, and $1,645 and $1,313 for the nine months ended September 30, 2017 and 2016, respectively.

Stockholder's equity

Stockholder's equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholder's equity	(8) Stockholder’s equity Pursuant to the exchange agreement between the Company and the Continuing LLC Owners, the Continuing LLC Owners (or certain permitted transferees thereof) have the right, from time to time and subject to the terms of the exchange agreement, to exchange their Holdings Units, along with a corresponding number of shares of Class B common stock, for shares of Class A common stock (or cash at the option of the Company) on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends, reclassifications and similar transactions. In connection with any exchange by a Continuing LLC Owner of Holdings Units for shares of Class A common stock, the number of Holdings Units held by the Company is correspondingly increased as it acquires the exchanged Holdings Units, and a corresponding number of shares of Class B common stock are cancelled. In March 2017, the Company completed the March Secondary Offering of 15,000,000 shares of its Class A common stock at a price of $20.44 per share. All of the shares sold in the March Secondary Offering were offered by certain existing holders of Holdings Units and the Direct TSG Investors. The Company did not receive any proceeds from the sale of shares of Class A common stock offered by the Direct TSG Investors and the participating holders of Holdings Units. The shares sold in the March Secondary Offering consisted of (i) 4,790,758 existing shares of Class A common stock held by the Direct TSG Investors and (ii) 10,209,242 newly-issued shares of Class A common stock issued in connection with the exercise of the exchange right by the holders of Holdings Units that participated in the March Secondary Offering. Simultaneously, and in connection with the exchange, 10,209,242 shares of Class B common stock were surrendered by the holders of Holdings Units that participated in the March Secondary Offering and canceled. Additionally, in connection with the exchange, Planet Fitness, Inc. received 10,209,242 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. In May 2017, the Company completed the May Secondary Offering of 16,085,510 shares of its Class A common stock at a price of $20.28 per share. All of the shares sold in the May Secondary Offering were offered by certain existing holders of Holdings Units and the Direct TSG Investors. The Company did not receive any proceeds from the sale of shares of Class A common stock offered by the Direct TSG Investors and the participating holders of Holdings Units. The shares sold in the May Secondary Offering consisted of (i) 5,215,691 existing shares of Class A common stock held by the Direct TSG Investors and (ii) 10,869,819 newly-issued shares of Class A common stock issued in connection with the exercise of the exchange right by the holders of Holdings Units that participated in the May Secondary Offering. Simultaneously, and in connection with the exchange, 10,869,819 shares of Class B common stock were surrendered by the holders of Holdings Units that participated in the May Secondary Offering and canceled. Additionally, in connection with the exchange, Planet Fitness, Inc. received 10,869,819 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. In addition to the March Secondary Offering and May Secondary Offering, during the nine months ended September 30, 2017, certain existing holders of Holdings Units exercised their exchange rights and exchanged 3,273,955 Holdings Units for 3,273,955 newly-issued shares of Class A common stock. Simultaneously, and in connection with these exchanges, 3,273,955 shares of Class B common stock were surrendered by the holders of Holdings Units that exercised their exchange rights and canceled. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 3,273,955 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. As a result of these transactions, as of September 30, 2017: • Holders of our Class A common stock owned 85,681,634 shares of our Class A common stock, representing 87.1% of the voting power in the Company and, through the Company, 85,681,634 Holdings Units representing 87.1% of the economic interest in Pla-Fit Holdings; • the Continuing LLC Owners collectively owned 12,681,728 Holdings Units, representing 12.9% of the economic interest in Pla-Fit Holdings and 12,681,728 shares of our Class B common stock, representing 12.9% of the voting power in the Company.

Earnings per share

Earnings per share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings per share	(9) Earnings per share Basic earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding during the same period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to Planet Fitness, Inc. by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive securities. Shares of the Company’s Class B common stock do not share in the earnings or losses attributable to Planet Fitness, Inc. and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B common stock under the two-class method has not been presented. Shares of the Company’s Class B common stock are, however, considered potentially dilutive shares of Class A common stock because shares of Class B common stock, together with the related Holdings Units, are exchangeable into shares of Class A common stock on a one-for-one basis. The following table sets forth reconciliations used to compute basic and diluted earnings per share of Class A common stock: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Numerator Net income $ 18,902 $ 14,863 $ 54,772 $ 49,300 Less: net income attributable to non-controlling interests 3,557 11,438 18,173 38,374 Net income attributable to Planet Fitness, Inc. $ 15,345 $ 3,425 $ 36,599 $ 10,926 Denominator Weighted-average shares of Class A common stock outstanding - basic 85,662,650 44,668,875 76,391,277 39,394,318 Effect of dilutive securities: Stock options 66,610 12,539 38,524 138 Restricted stock units 5,196 4,282 5,018 3,030 Weighted-average shares of Class A common stock outstanding - diluted 85,734,456 44,685,696 76,434,819 39,397,486 Earnings per share of Class A common stock - basic $ 0.18 $ 0.08 $ 0.48 $ 0.28 Earnings per share of Class A common stock - diluted $ 0.18 $ 0.08 $ 0.48 $ 0.28 Weighted average shares of Class B common stock of 12,693,076 and 53,902,808 for the three months ended September 30, 2017 and 2016, respectively, and 22,010,095 and 59,221,157 for the nine months ended September 30, 2017 and 2016, respectively, were evaluated under the if-converted method for potential dilutive effects and were not determined to be dilutive. Weighted average stock options outstanding of 466,278 and 250,141 for the three months ended September 30, 2017 and 2016, respectively, and 423,870 and 230,633 for the nine months ended September 30, 2017 and 2016, respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive. Weighted average RSUs outstanding of 2,924 and 0 for the three months ended September 30, 2017 and 2016, respectively, and 985 and 518 for the nine months ended September 30, 2017 and 2016, respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive.

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income taxes	(10) Income taxes The Company is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and certain state and local income taxes. As a partnership, Pla-Fit Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Pla-Fit Holdings is passed through to and included in the taxable income or loss of its members, including the Company, on a pro rata basis. Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to our allocable share of any taxable income of Pla-Fit Holdings. The Company is also subject to taxes in foreign jurisdictions. The Company incurs U.S. federal and state income taxes on its pro rata share of income flowed through from Pla-Fit Holdings. Our effective tax rate on such income was approximately 39.5% for the three and nine months ended September 30, 2017 and 2016. The provision for income taxes also reflects an effective state tax rate of 2.1% for the three and nine months ended September 30, 2017 and 2016, applied to non-controlling interests, representing the remaining percentage of income before taxes, excluding income from variable interest entities, related to Pla-Fit Holdings. Undistributed earnings of foreign operations were not material for the three and nine months ended September 30, 2017 and 2016. Net deferred tax assets of $731,131 and $410,407 as of September 30, 2017 and December 31, 2016, respectively, relate primarily to the tax effects of temporary differences in the book basis as compared to the tax basis of our investment in Pla-Fit Holdings as a result of the secondary offerings, other exchanges, recapitalization transactions and IPO. As of September 30, 2017, the Company does not have any material net operating loss carryforwards. As of September 30, 2017 and December 31, 2016, the total liability related to uncertain tax positions was $2,608. The Company recognizes interest accrued and penalties, if applicable, related to unrecognized tax benefits in income tax expense. As of September 30, 2017, the Company anticipates that the liability for unrecognized tax benefits could decrease by up to $2,608 within the next 12 months due to the expiration of certain statutes of limitation or the settlement of examinations or issues with tax authorities. Interest and penalties for the three and nine months ended September 30, 2017 and 2016 were not material. Tax benefit arrangements The Company’s acquisition of Holdings Units in connection with the IPO and future and certain past exchanges of Holdings Units for shares of the Company’s Class A common stock (or cash at the option of the Company) are expected to produce and have produced favorable tax attributes. In connection with the IPO, the Company entered into two tax receivable agreements. Under the first of those agreements, the Company generally is required to pay to certain existing and previous equity owners of Pla-Fit Holdings (the “TRA Holders”) 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay to the Direct TSG Investors 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of the Holdings Units held in respect of the Direct TSG Investors’ interest in the Company, which resulted from the Direct TSG Investors’ purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the benefit of the remaining 15% of the applicable tax savings. In connection with the March Secondary Offering, May Secondary Offering, and related and other exchanges during the nine months ended September 30, 2017, 24,353,016 Holdings Units were redeemed by the TRA Holders for newly issued shares of Class A common stock, resulting in an increase in the tax basis of the net assets of Pla-Fit Holdings subject to the provisions of the tax receivable agreements. As a result of the change in Planet Fitness, Inc.’s ownership percentage of Pla-Fit Holdings that occurred in conjunction with the exchanges, we recorded a decrease to our net deferred tax assets of $22,538 during the nine months ended September 30, 2017. As a result of these exchanges, during the nine months ended September 30, 2017, we also recognized deferred tax assets in the amount of $365,399, and corresponding tax benefit arrangement liabilities of $316,772, representing 85% of the tax benefits due to the TRA Holders. The offset to the entries recorded in connection with exchanges was to equity. As of September 30, 2017 and December 31, 2016, the Company had a liability of $727,393 and $419,071, respectively, related to its projected obligations under the tax benefit arrangements. Projected future payments under the tax benefit arrangements are as follows: Amount Remainder of 2017 $ 3,507 2018 29,972 2019 35,740 2020 35,503 2021 36,548 Thereafter 586,123 Total $ 727,393

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and contingencies	(11) Commitments and contingencies From time to time, and in the ordinary course of business, the Company is subject to various claims, charges, and litigation, such as employment-related claims and slip and fall cases. The Company is not currently aware of any legal proceedings or claims that the Company believes will have, individually or in the aggregate, a material adverse effect on the Company’s financial position or result of operations.

Segments

Segments	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segments	(12) Segments The Company has three reportable segments: (i) Franchise; (ii) Corporate-owned stores; and (iii) Equipment. The Company’s operations are organized and managed by type of products and services and segment information is reported accordingly. The Company’s chief operating decision maker (the “CODM”) is its Chief Executive Officer. The CODM reviews financial performance and allocates resources by reportable segment. There have been no operating segments aggregated to arrive at the Company’s reportable segments. The Franchise segment includes operations related to the Company’s franchising business in the United States, Puerto Rico, Canada and the Dominican Republic. The Corporate-owned stores segment includes operations with respect to all Corporate-owned stores throughout the United States and Canada. The Equipment segment includes the sale of equipment to franchisee-owned stores. The accounting policies of the reportable segments are the same as those described in Note 2. The Company evaluates the performance of its segments and allocates resources to them based on revenue and earnings before interest, taxes, depreciation, and amortization, referred to as Segment EBITDA. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The tables below summarize the financial information for the Company’s reportable segments for the three and nine months ended September 30, 2017 and 2016. The “Corporate and other” category, as it relates to Segment EBITDA, primarily includes corporate overhead costs, such as payroll and related benefit costs and professional services which are not directly attributable to any individual segment. Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Revenue Franchise segment revenue - U.S. $ 35,025 $ 26,940 $ 108,470 $ 83,312 Franchise segment revenue - International 537 285 1,683 1,068 Franchise segment total 35,562 27,225 110,153 84,380 Corporate-owned stores - U.S. 27,414 25,591 80,597 75,595 Corporate-owned stores - International 1,146 1,084 3,289 3,161 Corporate-owned stores total 28,560 26,675 83,886 78,756 Equipment segment - U.S. 33,374 33,107 101,875 98,686 Equipment segment total 33,374 33,107 101,875 98,686 Total revenue $ 97,496 $ 87,007 $ 295,914 $ 261,822 Franchise segment revenue includes franchise revenue and commission income. Franchise revenue includes revenue generated from placement services of $2,433 and $2,224 for the three months ended September 30, 2017 and 2016, respectively, and $7,410 and $6,952 for the nine months ended September 30, 2017 and 2016, respectively. Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Segment EBITDA Franchise $ 29,925 $ 22,814 $ 94,444 $ 71,308 Corporate-owned stores 12,046 10,550 35,579 30,259 Equipment 7,683 7,153 23,587 21,330 Corporate and other (7,155 ) (6,823 ) (24,212 ) (20,147 ) Total Segment EBITDA $ 42,499 $ 33,694 $ 129,398 $ 102,750 The following table reconciles total Segment EBITDA to income before taxes: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Total Segment EBITDA $ 42,499 $ 33,694 $ 129,398 $ 102,750 Less: Depreciation and amortization 8,137 7,745 23,982 23,127 Other (income) expense 408 (204 ) 157 30 Income from operations 33,954 26,153 105,259 79,593 Interest expense, net (8,920 ) (6,291 ) (26,711 ) (18,819 ) Other (income) expense 408 (204 ) 157 30 Income before income taxes $ 25,442 $ 19,658 $ 78,705 $ 60,804 The following table summarizes the Company’s assets by reportable segment: September 30, 2017 December 31, 2016 Franchise $ 237,682 $ 202,580 Corporate-owned stores 155,533 153,761 Equipment 184,012 208,809 Unallocated 788,793 436,292 Total consolidated assets $ 1,366,020 $ 1,001,442 The table above includes $2,638 and $2,795 of long-lived assets located in the Company’s corporate-owned stores in Canada as of September 30, 2017 and December 31, 2016, respectively. All other assets are located in the U.S. The following table summarizes the Company’s goodwill by reportable segment: September 30, 2017 December 31, 2016 Franchise $ 16,938 $ 16,938 Corporate-owned stores 67,377 67,377 Equipment 92,666 92,666 Consolidated goodwill $ 176,981 $ 176,981

Corporate-owned and franchisee-

Corporate-owned and franchisee-owned stores	9 Months Ended
	Sep. 30, 2017
Other Industries [Abstract]
Corporate-owned and franchisee-owned stores	(13) Corporate-owned and franchisee-owned stores The following table shows changes in our corporate-owned and franchisee-owned stores for the three and nine months ended September 30, 2017 and 2016: For the three months ended September 30, For the nine months ended September 30, 2017 2016 2017 2016 Franchisee-owned stores: Stores operated at beginning of period 1,345 1,148 1,255 1,066 New stores opened 31 37 122 121 Stores debranded or consolidated (1) (2 ) (1 ) (3 ) (3 ) Stores operated at end of period 1,374 1,184 1,374 1,184 Corporate-owned stores: Stores operated at beginning of period 58 58 58 58 New stores opened — — — — Stores operated at end of period 58 58 58 58 Total stores: Stores operated at beginning of period 1,403 1,206 1,313 1,124 New stores opened 31 37 122 121 Stores debranded or consolidated (1) (2 ) (1 ) (3 ) (3 ) Stores operated at end of period 1,432 1,242 1,432 1,242 (1) The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store.

Summary of significant accoun21

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of presentation and consolidation	(a) Basis of presentation and consolidation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, these interim financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the results of operations, financial position and cash flows for the periods presented have been reflected. All significant intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements as of and for the three and nine months ended September 30, 2017 and 2016 are unaudited. The condensed consolidated balance sheet as of December 31, 2016 has been derived from the audited financial statements at that date but does not include all of the disclosures required by U.S. GAAP. These interim condensed consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 (the “Annual Report”) filed with the SEC on March 6, 2017 . As discussed in Note 1, as a result of the recapitalization transactions, Planet Fitness, Inc. consolidates Pla-Fit Holdings. The Company also consolidates entities in which it has a controlling financial interest, the usual condition of which is ownership of a majority voting interest. The Company also considers for consolidation certain interests where the controlling financial interest may be achieved through arrangements that do not involve voting interests. Such an entity, known as a variable interest entity (“VIE”), is required to be consolidated by its primary beneficiary. The primary beneficiary of a VIE is considered to possess the power to direct the activities of the VIE that most significantly impact its economic performance and has the obligation to absorb losses or the rights to receive benefits from the VIE that are significant to it. The principal entities in which the Company possesses a variable interest include franchise entities and certain other entities. The Company is not deemed to be the primary beneficiary for Planet Fitness franchise entities. Therefore, these entities are not consolidated. The results of the Company have been consolidated with Matthew Michael Realty LLC (“MMR”) and PF Melville LLC (“PF Melville”) based on the determination that the Company is the primary beneficiary with respect to these VIEs. These entities are real estate holding companies that derive a majority of their financial support from the Company through lease agreements for corporate stores. See Note 3 for further information related to the Company’s VIEs.
Use of estimates	(b) Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, they may ultimately differ from actual results. Significant areas where estimates and judgments are relied upon by management in the preparation of the consolidated financial statements include revenue recognition, valuation of assets and liabilities in connection with acquisitions, valuation of equity-based compensation awards, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, income taxes, including deferred tax assets and liabilities and reserves for unrecognized tax benefits, and the liability for the Company’s tax benefit arrangements.
Fair Value	(c) Fair Value ASC 820, Fair Value Measurements and Disclosures Level 1—Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3—Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The table below presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016: Quoted Significant Total fair prices other Significant value at in active observable unobservable September 30, markets inputs inputs 2017 (Level 1) (Level 2) (Level 3) Interest rate caps $ 194 $ — $ 194 $ — Quoted Significant Total fair prices other Significant value at in active observable unobservable December 31, markets inputs inputs 2016 (Level 1) (Level 2) (Level 3) Interest rate caps $ 306 $ — $ 306 $ —
Recent accounting pronouncements	(d) Recent accounting pronouncements The FASB issued ASU No. 2014-09, Revenue from Contracts with Customers The FASB issued ASU No. 2016-02, Leases The FASB issued ASU No. 2016-09, Stock Compensation The FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments The FASB issued ASU No. 2017-04, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, The FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,

Summary of significant accoun22

Summary of significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Summary of Company's Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2017 and December 31, 2016: Quoted Significant Total fair prices other Significant value at in active observable unobservable September 30, markets inputs inputs 2017 (Level 1) (Level 2) (Level 3) Interest rate caps $ 194 $ — $ 194 $ — Quoted Significant Total fair prices other Significant value at in active observable unobservable December 31, markets inputs inputs 2016 (Level 1) (Level 2) (Level 3) Interest rate caps $ 306 $ — $ 306 $ —

Variable interest entities (Tab

Variable interest entities (Tables)	9 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Carrying Value of Variable Interest Entities of Consolidated Financial Statements	The carrying values of VIEs included in the consolidated financial statements as of September 30, 2017 and December 31, 2016 are as follows: September 30, 2017 December 31, 2016 Assets Liabilities Assets Liabilities PF Melville $ 4,333 $ — $ 4,071 $ — MMR 3,309 — 3,156 — Total $ 7,642 $ — $ 7,227 $ —

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets	A summary of goodwill and intangible assets at September 30, 2017 and December 31, 2016 is as follows: Weighted average Gross amortization carrying Accumulated Net carrying September 30, 2017 period (years) amount amortization Amount Customer relationships 11.1 $ 171,782 (83,179 ) $ 88,603 Noncompete agreements 5.0 14,500 (14,201 ) 299 Favorable leases 7.5 2,935 (1,898 ) 1,037 Order backlog 0.4 3,400 (3,400 ) — Reacquired franchise rights 5.8 8,950 (5,448 ) 3,502 201,567 (108,126 ) 93,441 Indefinite-lived intangible: Trade and brand names N/A 146,300 — 146,300 Total intangible assets $ 347,867 $ (108,126 ) $ 239,741 Goodwill $ 176,981 $ — $ 176,981 Weighted average Gross amortization carrying Accumulated Net carrying December 31, 2016 period (years) amount amortization Amount Customer relationships 11.1 $ 171,782 $ (72,655 ) $ 99,127 Noncompete agreements 5.0 14,500 (12,027 ) 2,473 Favorable leases 7.5 2,935 (1,643 ) 1,292 Order backlog 0.4 3,400 (3,400 ) — Reacquired franchise rights 5.8 8,950 (4,280 ) 4,670 201,567 (94,005 ) 107,562 Indefinite-lived intangible: Trade and brand names N/A 146,300 — 146,300 Total intangible assets $ 347,867 $ (94,005 ) $ 253,862 Goodwill $ 176,981 $ — $ 176,981
Summary of Amortization expenses	The anticipated annual amortization expense to be recognized in future years as of September 30, 2017 is as follows: Amount Remainder of 2017 $ 4,093 2018 14,583 2019 14,215 2020 12,517 2021 12,422 Thereafter 35,611 Total $ 93,441

Long-term debt (Tables)

Long-term debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt as of September 30, 2017 and December 31, 2016 consists of the following: September 30, 2017 December 31, 2016 Term loan B requires quarterly installments plus interest through the term of the loan, maturing March 31, 2021. Outstanding borrowings bear interest at LIBOR or base rate (as defined) plus a margin at the election of the borrower (4.26% at September 30, 2017 and 4.33% at December 31, 2016) $ 711,266 $ 716,654 Revolving credit line, requires interest only payments through the term of the loan, maturing March 31, 2019. Outstanding borrowings bear interest at LIBOR or base rate (as defined) plus a margin at the election of the borrower (6.00% at both September 30, 2017 and December 31, 2016) — — Total debt, excluding deferred financing costs $ 711,266 716,654 Deferred financing costs, net of accumulated amortization (6,205 ) (7,466 ) Total debt 705,061 709,188 Current portion of long-term debt and line of credit 7,185 7,185 Long-term debt, net of current portion $ 697,876 $ 702,003
Schedule of Future Annual Payments of Long-term Debt	Future annual principal payments of long-term debt as of September 30, 2017 are as follows: Amount Remainder of 2017 $ 1,796 2018 7,185 2019 7,185 2020 7,185 2021 687,915 Total $ 711,266

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Activity with entities considered to be related parties is summarized below: For the three months ended September 30, For the nine months ended September 30, 2017 2016 2017 2016 Franchise revenue $ 344 $ 359 $ 1,174 $ 1,174 Equipment revenue 4 3 577 770 Total revenue from related parties $ 348 $ 362 $ 1,751 $ 1,944

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share	The following table sets forth reconciliations used to compute basic and diluted earnings per share of Class A common stock: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Numerator Net income $ 18,902 $ 14,863 $ 54,772 $ 49,300 Less: net income attributable to non-controlling interests 3,557 11,438 18,173 38,374 Net income attributable to Planet Fitness, Inc. $ 15,345 $ 3,425 $ 36,599 $ 10,926 Denominator Weighted-average shares of Class A common stock outstanding - basic 85,662,650 44,668,875 76,391,277 39,394,318 Effect of dilutive securities: Stock options 66,610 12,539 38,524 138 Restricted stock units 5,196 4,282 5,018 3,030 Weighted-average shares of Class A common stock outstanding - diluted 85,734,456 44,685,696 76,434,819 39,397,486 Earnings per share of Class A common stock - basic $ 0.18 $ 0.08 $ 0.48 $ 0.28 Earnings per share of Class A common stock - diluted $ 0.18 $ 0.08 $ 0.48 $ 0.28

Income taxes (Tables)

Income taxes (Tables)	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Schedule of Future Payments Under Tax Benefit Arrangements	Projected future payments under the tax benefit arrangements are as follows: Amount Remainder of 2017 $ 3,507 2018 29,972 2019 35,740 2020 35,503 2021 36,548 Thereafter 586,123 Total $ 727,393

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Summary of Financial Information for the Company's Reportable Segments	The tables below summarize the financial information for the Company’s reportable segments for the three and nine months ended September 30, 2017 and 2016. Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Revenue Franchise segment revenue - U.S. $ 35,025 $ 26,940 $ 108,470 $ 83,312 Franchise segment revenue - International 537 285 1,683 1,068 Franchise segment total 35,562 27,225 110,153 84,380 Corporate-owned stores - U.S. 27,414 25,591 80,597 75,595 Corporate-owned stores - International 1,146 1,084 3,289 3,161 Corporate-owned stores total 28,560 26,675 83,886 78,756 Equipment segment - U.S. 33,374 33,107 101,875 98,686 Equipment segment total 33,374 33,107 101,875 98,686 Total revenue $ 97,496 $ 87,007 $ 295,914 $ 261,822 Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Segment EBITDA Franchise $ 29,925 $ 22,814 $ 94,444 $ 71,308 Corporate-owned stores 12,046 10,550 35,579 30,259 Equipment 7,683 7,153 23,587 21,330 Corporate and other (7,155 ) (6,823 ) (24,212 ) (20,147 ) Total Segment EBITDA $ 42,499 $ 33,694 $ 129,398 $ 102,750
Reconciliation of Total Segment EBITDA to Income Before Taxes	The following table reconciles total Segment EBITDA to income before taxes: Three months ended September 30, Nine months ended September 30, 2017 2016 2017 2016 Total Segment EBITDA $ 42,499 $ 33,694 $ 129,398 $ 102,750 Less: Depreciation and amortization 8,137 7,745 23,982 23,127 Other (income) expense 408 (204 ) 157 30 Income from operations 33,954 26,153 105,259 79,593 Interest expense, net (8,920 ) (6,291 ) (26,711 ) (18,819 ) Other (income) expense 408 (204 ) 157 30 Income before income taxes $ 25,442 $ 19,658 $ 78,705 $ 60,804
Summary of Company's Assets by Reportable Segment	The following table summarizes the Company’s assets by reportable segment: September 30, 2017 December 31, 2016 Franchise $ 237,682 $ 202,580 Corporate-owned stores 155,533 153,761 Equipment 184,012 208,809 Unallocated 788,793 436,292 Total consolidated assets $ 1,366,020 $ 1,001,442
Summary of Company's Goodwill by Reportable Segment	The following table summarizes the Company’s goodwill by reportable segment: September 30, 2017 December 31, 2016 Franchise $ 16,938 $ 16,938 Corporate-owned stores 67,377 67,377 Equipment 92,666 92,666 Consolidated goodwill $ 176,981 $ 176,981

Corporate-owned and franchise30

Corporate-owned and franchisee-owned stores (Tables)	9 Months Ended
	Sep. 30, 2017
Other Industries [Abstract]
Schedule of Changes in Corporate-owned and Franchisee-owned Stores	The following table shows changes in our corporate-owned and franchisee-owned stores for the three and nine months ended September 30, 2017 and 2016: For the three months ended September 30, For the nine months ended September 30, 2017 2016 2017 2016 Franchisee-owned stores: Stores operated at beginning of period 1,345 1,148 1,255 1,066 New stores opened 31 37 122 121 Stores debranded or consolidated (1) (2 ) (1 ) (3 ) (3 ) Stores operated at end of period 1,374 1,184 1,374 1,184 Corporate-owned stores: Stores operated at beginning of period 58 58 58 58 New stores opened — — — — Stores operated at end of period 58 58 58 58 Total stores: Stores operated at beginning of period 1,403 1,206 1,313 1,124 New stores opened 31 37 122 121 Stores debranded or consolidated (1) (2 ) (1 ) (3 ) (3 ) Stores operated at end of period 1,432 1,242 1,432 1,242 (1) The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store.

Business Organization - Additio

Business Organization - Additional Information (Detail)	1 Months Ended		9 Months Ended
	May 31, 2017$ / sharesshares	Mar. 31, 2017$ / sharesshares	Sep. 30, 2017MemberStoreStateshares	Jun. 30, 2017Store	Dec. 31, 2016Store	Sep. 30, 2016Store	Jun. 30, 2016Store	Dec. 31, 2015Store	Aug. 05, 2015
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of members | Member			10,500,000
Number of owned and franchised locations | Store			1,432	1,403	1,313	1,242	1,206	1,124
Number of states in which entity operates | State			49
Date of formation			Mar. 16, 2015
Holdings Units [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Stock issued during period, shares, conversion of units			3,273,955
Class A Common Stock [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of stock issued during period			3,273,955
Stock issued during period, shares, conversion of units			24,353,000
Class B Common Stock [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of shares exchanged			3,273,955
Secondary Offering [Member] | Class A Common Stock [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of stock issued during period	16,085,510	15,000,000
Share price | $ / shares	$ 20.28	$ 20.44
Secondary Offering [Member] | Class A Common Stock [Member] | Direct TSG Investors [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of stock issued during period	5,215,691	4,790,758
Secondary Offering [Member] | Class A Common Stock [Member] | Holdings Units [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of stock issued during period	10,869,819	10,209,242
Secondary Offering [Member] | Class B Common Stock [Member] | Holdings Units [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of shares exchanged	10,869,819	10,209,242
Pla-Fit Holdings, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership			100.00%						100.00%
Percentage of economic interest			87.10%
Pla-Fit Holdings, LLC [Member] | Holdings Units [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of economic interest			12.90%
Pla-Fit Holdings, LLC [Member] | Secondary Offering [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of units held by owners	10,869,819	10,209,242
Pla-Fit Holdings, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of units held by owners			3,273,955
Pla-Fit Holdings, LLC [Member] | Secondary Offering [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of units held by owners	10,869,819	10,209,242
Pla-Fit Holdings, LLC [Member] | Planet Intermediate, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership									100.00%
Planet Intermediate, LLC [Member] | Planet Fitness Holdings, LLC [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership									100.00%

Summary of Significant Accoun32

Summary of Significant Accounting Policies - Summary of Company's Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Interest Rate Cap [Member] - Fair Value Measurements Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate caps	$ 194	$ 306
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest rate caps	$ 194	$ 306

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Value of Variable Interest Entities of Consolidated Financial Statements (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Assets	$ 7,642	$ 7,227
PF Melville [Member]
Variable Interest Entity [Line Items]
Assets	4,333	4,071
MMR [Member]
Variable Interest Entity [Line Items]
Assets	$ 3,309	$ 3,156

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity Consolidated Carrying Amount Assets And Liabilities [Abstract]
Maximum obligation of guarantees of leases and debt	$ 1,039,000	$ 1,350,000
Maximum loss exposure Involvement of estimated value	$ 0

Goodwill and Intangible Asset35

Goodwill and Intangible Assets - Summary of Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Goodwill And Intangible Assets [Line Items]
Total intangible assets, Gross carrying amount	$ 347,867	$ 347,867
Gross carrying amount	201,567	201,567
Accumulated amortization	(108,126)	(94,005)
Net carrying Amount	93,441	107,562
Total intangible assets, Net carrying Amount	239,741	253,862
Goodwill, Gross carrying amount	176,981	176,981
Goodwill, Net carrying Amount	176,981	176,981
Trade and Brand Names [Member]
Goodwill And Intangible Assets [Line Items]
Indefinite-lived intangible, Net carrying Amount	$ 146,300	$ 146,300
Customer Relationships [Member]
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	11 years 1 month 6 days	11 years 1 month 6 days
Gross carrying amount	$ 171,782	$ 171,782
Accumulated amortization	(83,179)	(72,655)
Net carrying Amount	$ 88,603	$ 99,127
Noncompete Agreements [Member]
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	5 years	5 years
Gross carrying amount	$ 14,500	$ 14,500
Accumulated amortization	(14,201)	(12,027)
Net carrying Amount	$ 299	$ 2,473
Favorable Leases [Member]
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	7 years 6 months	7 years 6 months
Gross carrying amount	$ 2,935	$ 2,935
Accumulated amortization	(1,898)	(1,643)
Net carrying Amount	$ 1,037	$ 1,292
Order Backlog [Member]
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	4 months 24 days	4 months 24 days
Gross carrying amount	$ 3,400	$ 3,400
Accumulated amortization	$ (3,400)	$ (3,400)
Reacquired Franchise Rights [Member]
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	5 years 9 months 18 days	5 years 9 months 18 days
Gross carrying amount	$ 8,950	$ 8,950
Accumulated amortization	(5,448)	(4,280)
Net carrying Amount	$ 3,502	$ 4,670

Goodwill and Intangible Asset36

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Goodwill And Intangible Assets [Line Items]
Impairment charges			$ 0		$ 0
Amortization of intangible assets	$ 4,697,000	$ 4,940,000	14,122,000	$ 14,820,000
Favorable And Unfavorable Leases [Member]
Goodwill And Intangible Assets [Line Items]
Amortization of intangible assets	$ 75,000	$ 97,000	$ 255,000	$ 292,000

Goodwill and Intangible Asset37

Goodwill and Intangible Assets - Summary of Amortization expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2017	$ 4,093
2,018	14,583
2,019	14,215
2,020	12,517
2,021	12,422
Thereafter	35,611
Net carrying Amount	$ 93,441	$ 107,562

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 711,266	$ 716,654
Deferred financing costs, net of accumulated amortization	(6,205)	(7,466)
Total debt	705,061	709,188
Current portion of long-term debt and line of credit	7,185	7,185
Long-term debt, net of current portion	697,876	702,003
Term Loan B [Member]
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 711,266	$ 716,654

Long-term Debt - Schedule of 39

Long-term Debt - Schedule of Long-term Debt (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument maturity date	Mar. 31, 2019	Mar. 31, 2019
Total rate - base plus spread	6.00%	6.00%
Term Loan B [Member]
Debt Instrument [Line Items]
Debt instrument maturity date	Mar. 31, 2021	Mar. 31, 2021
Total rate - base plus spread	4.26%	4.33%

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail) - USD ($) $ in Thousands	May 26, 2017	Jun. 30, 2017	Sep. 30, 2017
Debt Instrument [Line Items]
Third party debt refinancing expense			$ 1,021
Loss on extinguishment of debt			$ 79
Term Loan B [Member]
Debt Instrument [Line Items]
Decrease in interest rate margin for term loan borrowings	(0.50%)
Additional reduction in interest rate margin for term loan borrowings	(0.25%)
Maximum [Member] | Term Loan B [Member]
Debt Instrument [Line Items]
Total net leverage ratio	3.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Decrease in interest rate margin for term loan borrowings	(0.25%)
Amended Credit Facility [Member]
Debt Instrument [Line Items]
Capitalized and deferred financing costs		$ 257
Amended Credit Facility [Member] | Other Expense [Member]
Debt Instrument [Line Items]
Third party debt refinancing expense		1,021
Amended Credit Facility [Member] | Interest Expense [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 79

Long-term Debt - Schedule of Fu

Long-term Debt - Schedule of Future Annual Payments of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Remainder of 2017	$ 1,796
2,018	7,185
2,019	7,185
2,020	7,185
2,021	687,915
Total	$ 711,266	$ 716,654

Derivative Instruments and He42

Derivative Instruments and Hedging Activities - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Mar. 31, 2017Cap	Dec. 31, 2016USD ($)
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Unrealized loss on interest rate caps, net of tax	$ 374,000	$ 193,000	$ 730,000	$ (469,000)
LIBOR plus 1.5% [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, interest rate cap floor	1.50%		1.50%
LIBOR Plus 2.5% [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, interest rate cap floor	2.50%		2.50%		2.50%
Interest Rate Cap [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Number of additional caps | Cap					2
Derivative, inception date			Mar. 31, 2017
Derivative, maturity date			Mar. 31, 2019
Interest rate caps	$ 194,000		$ 194,000			$ 306,000
Unrealized loss on interest rate caps, net of tax	356,000	(193,000)	730,000	(469,000)
Unrealized gain (loss) on interest rate caps, tax	145,000	$ (45,000)	344,000	$ (83,000)
Interest Rate Cap [Member] | LIBOR plus 1.5% [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional amount	175,000,000		175,000,000
Interest Rate Cap [Member] | LIBOR Plus 2.5% [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 181,531,000		$ 181,531,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Due from related parties, current portion	$ 2,984		$ 2,984		$ 2,864
Liability payable under tax benefit obligations	727,393		727,393
Area Development Agreements [Member]
Related Party Transaction [Line Items]
Deferred area development revenue from related parties	257		257		$ 422
Planet Fitness NAF, LLC [Member]
Related Party Transaction [Line Items]
Administrative fees charged	$ 643	$ 438	$ 1,645	$ 1,313

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transaction [Line Items]
Total revenue from related parties	$ 348	$ 362	$ 1,751	$ 1,944
Franchise [Member]
Related Party Transaction [Line Items]
Total revenue from related parties	344	359	1,174	1,174
Equipment [Member]
Related Party Transaction [Line Items]
Total revenue from related parties	$ 4	$ 3	$ 577	$ 770

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Detail) - USD ($)	1 Months Ended		9 Months Ended
	May 31, 2017	Mar. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Class Of Stock [Line Items]
Proceeds from sale of shares			$ 172,000	$ 79,000
Pla-Fit Holdings, LLC [Member]
Class Of Stock [Line Items]
Number of units held by owners			3,273,955
Holdings Units [Member]
Class Of Stock [Line Items]
Exchanges of Class B common stock, shares			3,273,955
Class A Common Stock [Member]
Class Of Stock [Line Items]
Number of stock issued during period			3,273,955
Exchanges of Class B common stock, shares			24,353,000
Number of units owned by holders			85,682,000		61,314,000
Class B Common Stock [Member]
Class Of Stock [Line Items]
Number of shares exchanged			3,273,955
Number of units owned by holders			12,682,000		37,185,000
Secondary Offering [Member] | Pla-Fit Holdings, LLC [Member]
Class Of Stock [Line Items]
Number of units held by owners	10,869,819	10,209,242
Secondary Offering [Member] | Class A Common Stock [Member]
Class Of Stock [Line Items]
Number of stock issued during period	16,085,510	15,000,000
Share price	$ 20.28	$ 20.44
Proceeds from sale of shares	$ 0	$ 0
Secondary Offering [Member] | Class A Common Stock [Member] | Direct TSG Investors [Member]
Class Of Stock [Line Items]
Number of stock issued during period	5,215,691	4,790,758
Secondary Offering [Member] | Class A Common Stock [Member] | Holdings Units [Member]
Class Of Stock [Line Items]
Number of stock issued during period	10,869,819	10,209,242
Secondary Offering [Member] | Class B Common Stock [Member] | Holdings Units [Member]
Class Of Stock [Line Items]
Number of shares exchanged	10,869,819	10,209,242
Secondary Offering [Member] | Pla-Fit Holdings, LLC [Member]
Class Of Stock [Line Items]
Number of units held by owners	10,869,819	10,209,242
Secondary Offering and Exchange [Member] | Investor [Member]
Class Of Stock [Line Items]
Number of units owned by holders			85,681,634
Secondary Offering and Exchange [Member] | Continuing LLC Owners [Member]
Class Of Stock [Line Items]
Number of units held by owners			12,681,728
Secondary Offering and Exchange [Member] | Class A Common Stock [Member] | Investor [Member]
Class Of Stock [Line Items]
Number of units owned by holders			85,681,634
Secondary Offering and Exchange [Member] | Class B Common Stock [Member] | Continuing LLC Owners [Member]
Class Of Stock [Line Items]
Number of units held by owners			12,681,728
Secondary Offering and Exchange [Member] | Pla-Fit Holdings, LLC [Member] | Investor [Member]
Class Of Stock [Line Items]
Percentage of economic interest			87.10%
Secondary Offering and Exchange [Member] | Pla-Fit Holdings, LLC [Member] | Continuing LLC Owners [Member]
Class Of Stock [Line Items]
Percentage of economic interest			12.90%
Secondary Offering and Exchange [Member] | Pla-Fit Holdings, LLC [Member] | Class A Common Stock [Member] | Investor [Member]
Class Of Stock [Line Items]
Percentage of voting power			87.10%
Secondary Offering and Exchange [Member] | Pla-Fit Holdings, LLC [Member] | Class B Common Stock [Member] | Continuing LLC Owners [Member]
Class Of Stock [Line Items]
Percentage of voting power			12.90%

Earnings per share - Reconcilia

Earnings per share - Reconciliation of Numerators and Denominators Used to Compute Basic and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator
Net income	$ 18,902	$ 14,863	$ 54,772	$ 49,300
Less: net income attributable to non-controlling interests	3,557	11,438	18,173	38,374
Net income attributable to Planet Fitness, Inc.	$ 15,345	$ 3,425	$ 36,599	$ 10,926
Stock Options [Member]
Effect of dilutive securities:
Weighted-average shares outstanding adjustment	66,610	12,539	38,524	138
Restricted Stock Units [Member]
Effect of dilutive securities:
Weighted-average shares outstanding adjustment	5,196	4,282	5,018	3,030
Class A Common Stock [Member]
Denominator
Weighted-average shares of Class A common stock outstanding - basic	85,662,650	44,668,875	76,391,277	39,394,318
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding - diluted	85,734,456	44,685,696	76,434,819	39,397,486
Earnings per share of Class A common stock - basic	$ 0.18	$ 0.08	$ 0.48	$ 0.28
Earnings per share of Class A common stock - diluted	$ 0.18	$ 0.08	$ 0.48	$ 0.28

Earnings per share - Additional

Earnings per share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock Options [Member]
Earnings Per Share Diluted [Line Items]
Anti-dilutive securities excluded from the calculation of earnings per share	466,278	250,141	423,870	230,633
Restricted Stock Units [Member]
Earnings Per Share Diluted [Line Items]
Anti-dilutive securities excluded from the calculation of earnings per share	2,924	0	985	518
Class B Common Stock [Member] | Continuing LLC Owners Exchange Agreement
Earnings Per Share Diluted [Line Items]
Anti-dilutive securities excluded from the calculation of earnings per share	12,693,076	53,902,808	22,010,095	59,221,157

Income Taxes - Additional infor

Income Taxes - Additional information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Agreementshares	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Tax Credit Carryforward [Line Items]
Effective income tax rate	39.50%	39.50%	39.50%	39.50%
Effective income tax rate reconciliation noncontrolling interest	2.10%	2.10%	2.10%	2.10%
Undistributed earnings of foreign operations	$ 0	$ 0	$ 0	$ 0
Net deferred tax assets	731,131,000		731,131,000		$ 410,407,000
Net operating loss carryforwards	0		0
Total liability related to uncertain tax positions	2,608,000		2,608,000		2,608,000
Decrease in next twelve months for unrecognized tax benefits	2,608,000		2,608,000
Unrecognized tax benefits, Income tax penalties and interest expense	$ 0	$ 0	$ 0	$ 0
Number of tax receivable agreements | Agreement			2
Applicable tax savings	85.00%		85.00%
Percentage of remaining tax savings			15.00%
Tax benefit obligation	$ 727,393,000		$ 727,393,000		$ 419,071,000
TRA Holders [Member]
Tax Credit Carryforward [Line Items]
Decrease in deferred tax assets			(22,538,000)
Deferred tax asset	365,399,000		365,399,000
Deferred tax liability	$ 316,772,000		$ 316,772,000
Class A Common Stock [Member] | TRA Holders [Member]
Tax Credit Carryforward [Line Items]
Number of shares exchanged | shares			24,353,016

Income Taxes - Schedule of Futu

Income Taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Remainder of 2017	$ 3,507
2,018	29,972
2,019	35,740
2,020	35,503
2,021	36,548
Thereafter	586,123
Total	$ 727,393	$ 419,071

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Segment	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			3
Number of operating segments | Segment			0
Description of factors used to identify entity's reportable segments			No operating segments aggregated to arrive at the Company's reportable segments.
Revenue	$ 97,496,000	$ 87,007,000	$ 295,914,000	$ 261,822,000
Franchise [Member]
Segment Reporting Information [Line Items]
Revenue	35,562,000	27,225,000	110,153,000	84,380,000
Franchise [Member] | Placement Services [Member]
Segment Reporting Information [Line Items]
Revenue	2,433,000	2,224,000	7,410,000	6,952,000
Corporate-owned Stores [Member]
Segment Reporting Information [Line Items]
Revenue	28,560,000	$ 26,675,000	83,886,000	$ 78,756,000
Corporate-owned Stores [Member] | Canada [Member]
Segment Reporting Information [Line Items]
Long-lived assets	$ 2,638,000		2,638,000		$ 2,795,000
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue			$ 0

Segments - Summary of Financial

Segments - Summary of Financial Information for the Company's Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenue	$ 97,496	$ 87,007	$ 295,914	$ 261,822
Total Segment EBITDA	42,499	33,694	129,398	102,750
Corporate And Other Non Segment [Member]
Segment Reporting Information [Line Items]
Total Segment EBITDA	(7,155)	(6,823)	(24,212)	(20,147)
Franchise [Member]
Segment Reporting Information [Line Items]
Revenue	35,562	27,225	110,153	84,380
Franchise [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Segment EBITDA	29,925	22,814	94,444	71,308
Franchise [Member] | US [Member]
Segment Reporting Information [Line Items]
Revenue	35,025	26,940	108,470	83,312
Franchise [Member] | International [Member]
Segment Reporting Information [Line Items]
Revenue	537	285	1,683	1,068
Corporate-owned Stores [Member]
Segment Reporting Information [Line Items]
Revenue	28,560	26,675	83,886	78,756
Corporate-owned Stores [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Segment EBITDA	12,046	10,550	35,579	30,259
Corporate-owned Stores [Member] | US [Member]
Segment Reporting Information [Line Items]
Revenue	27,414	25,591	80,597	75,595
Corporate-owned Stores [Member] | International [Member]
Segment Reporting Information [Line Items]
Revenue	1,146	1,084	3,289	3,161
Equipment [Member]
Segment Reporting Information [Line Items]
Revenue	33,374	33,107	101,875	98,686
Equipment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total Segment EBITDA	7,683	7,153	23,587	21,330
Equipment [Member] | US [Member]
Segment Reporting Information [Line Items]
Revenue	$ 33,374	$ 33,107	$ 101,875	$ 98,686

Segments - Reconciliation of To

Segments - Reconciliation of Total Segment EBITDA to Income Before Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting [Abstract]
Total Segment EBITDA	$ 42,499	$ 33,694	$ 129,398	$ 102,750
Depreciation and amortization	8,137	7,745	23,982	23,127
Other (income) expense	408	(204)	157	30
Income from operations	33,954	26,153	105,259	79,593
Interest expense, net	(8,920)	(6,291)	(26,711)	(18,819)
Income before income taxes	$ 25,442	$ 19,658	$ 78,705	$ 60,804

Segments - Summary of Company's

Segments - Summary of Company's Assets by Reportable Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 1,366,020	$ 1,001,442
Operating Segments [Member] | Franchise [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	237,682	202,580
Operating Segments [Member] | Corporate-owned Stores [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	155,533	153,761
Operating Segments [Member] | Equipment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	184,012	208,809
Unallocated [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 788,793	$ 436,292

Segments - Summary of Company54

Segments - Summary of Company's Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Other Significant Reconciling Item [Line Items]
Goodwill, Net carrying Amount	$ 176,981	$ 176,981
Franchise [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Goodwill, Net carrying Amount	16,938	16,938
Corporate-owned Stores [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Goodwill, Net carrying Amount	67,377	67,377
Equipment [Member]
Segment Reporting Other Significant Reconciling Item [Line Items]
Goodwill, Net carrying Amount	$ 92,666	$ 92,666

Corporate-owned and Franchise55

Corporate-owned and Franchisee-owned Stores - Schedule of Changes in Corporate-owned and Franchisee-owned Stores (Detail) - Store		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Franchisor Disclosure [Line Items]
Stores operated at beginning of period		1,403	1,206	1,313	1,124
New stores opened		31	37	122	121
Stores debranded or consolidated	[1]	(2)	(1)	(3)	(3)
Stores operated at end of period		1,432	1,242	1,432	1,242
Franchisee-Owned Stores [Member]
Franchisor Disclosure [Line Items]
Stores operated at beginning of period		1,345	1,148	1,255	1,066
New stores opened		31	37	122	121
Stores debranded or consolidated	[1]	(2)	(1)	(3)	(3)
Stores operated at end of period		1,374	1,184	1,374	1,184
Corporate-Owned Stores [Member]
Franchisor Disclosure [Line Items]
Stores operated at beginning of period		58	58	58	58
Stores operated at end of period		58	58	58	58
[1]	The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store.