Planet Fitness (PLNT) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	May 01, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-37534
Entity Registrant Name	PLANET FITNESS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-3942097
Entity Address, Address Line One	4 Liberty Lane West
Entity Address, City or Town	Hampton
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03842
City Area Code	603
Local Phone Number	750-0001
Title of 12(b) Security	Class A common stock, $0.0001 Par Value
Trading Symbol	PLNT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001637207
Current Fiscal Year End Date	--12-31
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		79,950,634
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,501,477

Condensed consolidated balance

Condensed consolidated balance sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 547,494	$ 436,256
Restricted cash	63,226	42,539
Accounts receivable, net of allowance for bad debts of $79 and $111 at March 31, 2020 and December 31, 2019, respectively	21,082	42,268
Inventory	2,820	877
Deferred expenses – national advertising fund	10,363	0
Prepaid expenses	7,263	8,025
Other receivables	9,969	9,226
Other current assets	2,253	947
Total current assets	664,470	540,138
Property and equipment, net of accumulated depreciation of $81,585 and $73,621 at March 31, 2020 and December 31, 2019, respectively	145,114	145,481
Right-of-use assets, net	150,284	155,633
Intangible assets, net	229,709	233,921
Goodwill	227,821	227,821
Deferred income taxes	456,322	412,293
Other assets, net	1,916	1,903
Total assets	1,875,636	1,717,190
Current liabilities:
Current maturities of long-term debt	17,500	17,500
Accounts payable	37,640	21,267
Accrued expenses	21,063	31,623
Equipment deposits	5,394	3,008
Deferred revenue, current	53,593	27,596
Payable pursuant to tax benefit arrangements, current	26,468	26,468
Other current liabilities	18,506	18,016
Total current liabilities	180,164	145,478
Long-term debt, net of current maturities	1,684,727	1,687,505
Borrowings under Variable Funding Notes	75,000	0
Lease liabilities, net of current portion	148,006	152,920
Deferred revenue, net of current portion	34,193	34,458
Deferred tax liabilities	1,139	1,116
Payable pursuant to tax benefit arrangements, net of current portion	442,243	400,748
Other liabilities	2,333	2,719
Total noncurrent liabilities	2,387,641	2,279,466
Commitments and contingencies (Note 13)
Stockholders’ equity (deficit):
Accumulated other comprehensive (loss) income	(306)	303
Additional paid in capital	36,460	29,820
Accumulated deficit	(727,946)	(736,587)
Total stockholders’ deficit attributable to Planet Fitness Inc.	(691,783)	(706,455)
Non-controlling interests	(386)	(1,299)
Total stockholders’ deficit	(692,169)	(707,754)
Total liabilities and stockholders’ deficit	1,875,636	1,717,190
Class A Common Stock
Stockholders’ equity (deficit):
Common stock, value	8	8
Class B Common Stock
Stockholders’ equity (deficit):
Common stock, value	$ 1	$ 1

Condensed consolidated balanc_2

Condensed consolidated balance sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Accounts receivable, allowance for bad debts	$ 79	$ 111
Accumulated depreciation	$ 81,585	$ 73,621
Class A Common Stock
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	79,928,000	78,525,000
Common stock, shares outstanding (in shares)	79,928,000	78,525,000
Class B Common Stock
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,501,000	8,562,000
Common stock, shares outstanding (in shares)	6,501,000	8,562,000

Condensed consolidated statemen

Condensed consolidated statements of operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Revenue	$ 127,231	$ 148,817
Operating costs and expenses:
Cost of revenue	21,846	34,486
Store operations	26,157	20,905
Selling, general and administrative	16,953	18,154
National advertising fund expense	15,205	11,812
Depreciation and amortization	12,792	9,907
Other loss	11	368
Total operating costs and expenses	92,964	95,632
Income from operations	34,267	53,185
Other expense, net:
Interest income	1,927	1,798
Interest expense	(20,240)	(14,749)
Other expense	(687)	(3,318)
Total other expense, net	(19,000)	(16,269)
Income before income taxes	15,267	36,916
Provision for income taxes	4,884	5,277
Net income	10,383	31,639
Less net income attributable to non-controlling interests	1,776	4,230
Net income attributable to Planet Fitness, Inc.	$ 8,607	$ 27,409
Class A Common Stock
Net income per share of Class A common stock:
Basic (in dollars per share)	$ 0.11	$ 0.33
Diluted (in dollars per share)	$ 0.11	$ 0.32
Weighted-average shares of Class A common stock outstanding:
Basic (in shares)	79,098,468	83,805,545
Diluted (in shares)	79,723,368	84,425,275
Franchise
Revenue:
Revenue	$ 48,910	$ 52,956
Commission income
Revenue:
Revenue	390	994
National advertising fund revenue
Revenue:
Revenue	9,229	11,812
Corporate-owned stores
Revenue:
Revenue	40,516	38,044
Equipment
Revenue:
Revenue	$ 28,186	$ 45,011

Condensed consolidated statem_2

Condensed consolidated statements of comprehensive income (loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income including non-controlling interests	$ 10,383	$ 31,639
Other comprehensive income (loss), net:
Foreign currency translation adjustments	(609)	54
Total other comprehensive income, net	(609)	54
Total comprehensive income including non-controlling interests	9,774	31,693
Less: total comprehensive income attributable to non-controlling interests	1,776	4,230
Total comprehensive income attributable to Planet Fitness, Inc.	$ 7,998	$ 27,463

Condensed consolidated statem_3

Condensed consolidated statements of cash flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 10,383	$ 31,639
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,792	9,907
Amortization of deferred financing costs	1,587	1,356
Amortization of asset retirement obligations	7	221
Deferred tax expense	4,126	2,165
Loss (gain) on re-measurement of tax benefit arrangement	(502)	3,373
Provision for bad debts	(33)	2
Equity-based compensation	947	1,315
Other	993	(269)
Changes in operating assets and liabilities, excluding effects of acquisitions:
Accounts receivable	21,409	20,032
Inventory	(1,943)	1,677
Other assets and other current assets	(250)	(2,648)
National advertising fund	(10,363)	(6,500)
Accounts payable and accrued expenses	6,381	(14,640)
Other liabilities and other current liabilities	(249)	214
Income taxes	(1,315)	1,768
Equipment deposits	2,386	4,594
Deferred revenue	25,992	3,668
Leases and deferred rent	774	60
Net cash provided by operating activities	73,122	57,934
Cash flows from investing activities:
Additions to property and equipment	(9,110)	(7,471)
Proceeds from sale of property and equipment	135	21
Net cash used in investing activities	(8,975)	(7,450)
Cash flows from financing activities:
Principal payments on capital lease obligations	(41)	(12)
Proceeds from borrowings under Variable Funding Notes	75,000	0
Repayment of long-term debt	(4,375)	(3,000)
Proceeds from issuance of Class A common stock	491	607
Dividend equivalent payments	(57)	(20)
Distributions to Continuing LLC Members	(1,600)	(1,842)
Net cash (used in) provided by financing activities	69,418	(4,267)
Effects of exchange rate changes on cash and cash equivalents	(1,640)	250
Net increase in cash, cash equivalents and restricted cash	131,925	46,467
Cash, cash equivalents and restricted cash, beginning of period	478,795	320,139
Cash, cash equivalents and restricted cash, end of period	610,720	366,606
Supplemental cash flow information:
Net cash paid for income taxes	2,071	1,479
Cash paid for interest	18,768	13,477
Non-cash investing activities:
Non-cash additions to property and equipment	$ 2,319	$ 4,151

Condensed consolidated statem_4

Condensed consolidated statement of changes in equity (deficit) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Accumulated other comprehensive (loss) income	Additional paid- in capital	Accumulated deficit	Non-controlling interests	Class A common stock	Class A common stockCommon stock	Class B common stock	Class B common stockCommon stock
Beginning balance (in shares) at Dec. 31, 2018							83,584		9,448
Beginning balance at Dec. 31, 2018	$ (382,789)	$ 94	$ 19,732	$ (394,410)	$ (8,215)		$ 9		$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,639			27,409	4,230
Equity-based compensation expense	1,315		1,315
Exchanges of Class B common stock, shares issued (in shares)							859		(859)
Exchanges of Class B common stock			(1,172)		1,172
Exercise of stock options, vesting of restricted share units and ESPP share purchase (in shares)							20
Exercise of stock options, vesting of restricted share units and ESPP share purchase	505		505
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock	2,196		2,196
Non-cash adjustments to VIEs	(3,407)				(3,407)
Distributions paid to members of Pla-Fit Holdings	(1,842)				(1,842)
Cumulative effect adjustment	(1,713)			(1,713)
Other comprehensive income	54	54
Ending balance (in shares) at Mar. 31, 2019							84,463		8,589
Ending balance at Mar. 31, 2019	(354,042)	148	22,576	(368,714)	(8,062)		$ 9		$ 1
Beginning balance (in shares) at Dec. 31, 2019						78,525	78,525	8,562	8,562
Beginning balance at Dec. 31, 2019	(707,754)	303	29,820	(736,587)	(1,299)		$ 8		$ 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,383			8,607	1,776
Equity-based compensation expense	947		947
Exchanges of Class B common stock, shares issued (in shares)							2,061		(2,061)
Exchanges of Class B common stock			(956)		956
Exercise of stock options, vesting of restricted share units and ESPP share purchase (in shares)							9
Exercise of stock options, vesting of restricted share units and ESPP share purchase	459		459
Repurchase/Retirement of common stock (in shares)							(667)
Tax benefit arrangement liability and deferred taxes arising from exchanges of Class B common stock	6,190		6,190
Non-cash adjustments to VIEs	(219)				(219)
Distributions paid to members of Pla-Fit Holdings	(1,600)				(1,600)
Non-cash adjustments to VIEs	34			34
Other comprehensive income	(609)	(609)
Ending balance (in shares) at Mar. 31, 2020						79,928	79,928	6,501	6,501
Ending balance at Mar. 31, 2020	$ (692,169)	$ (306)	$ 36,460	$ (727,946)	$ (386)		$ 8		$ 1

Business Organization

Business Organization	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Organization	Business Organization Planet Fitness, Inc. (the “Company”), through its subsidiaries, is a franchisor and operator of fitness centers, with more than 15.5 million members and 2,039 owned and franchised locations (referred to as stores) in 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico and Australia as of March 31, 2020 . On March 18, 2020, the Company proactively closed all of its stores system wide in response to the novel coronavirus disease (“COVID-19”) pandemic in order to promote the health and safety of its members, team members and their communities. As of March 31, 2020 all stores remained closed. 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 through its subsidiaries. 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. 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. As of March 31, 2020 , Planet Fitness, Inc. held 100.0% of the voting interest and 92.5% 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 7.5%

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	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 months ended March 31, 2020 and 2019 are unaudited. The condensed consolidated balance sheet as of December 31, 2019 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, 2019 (the “Annual Report”) filed with the SEC on February 28, 2020 . Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. As discussed in Note 1, 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”), PF Melville LLC (“PF Melville”), and Planet Fitness NAF, LLC (the “NAF”) based on the determination that the Company is the primary beneficiary with respect to these VIEs. MMR and PF Melville 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. The NAF is an advertising fund on behalf of which the Company collects 2% of gross monthly membership dues from franchisees, in accordance with the provisions of the franchise agreements, and uses the amounts received to support our national marketing campaigns, our social media platforms and the development of local advertising materials. (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, the liability for the Company’s tax benefit arrangements, and the value of the lease liability and related right-of-use asset recorded in accordance with ASC 842 (see Note 7). (c) Fair Value ASC 820, Fair Value Measurements and Disclosures , establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: 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 carrying value and estimated fair value of long-term debt as of March 31, 2020 and December 31, 2019 were as follows: March 31, 2020 December 31, 2019 Carrying value Estimated fair value (1) Carrying value Estimated fair value (1) Long-term debt $ 1,730,625 $ 1,498,371 $ 1,735,000 $ 1,765,805 Variable Funding Notes $ 75,000 $ 75,000 $ — $ — (1) The Company’s Variable Funding Notes are a variable rate loan and the fair value of this loan approximates book value based on the borrowing rates currently available for variable rate loans obtained from third party lending institutions. The estimated fair value of our fixed rate long-term debt is estimated primarily based on current bid prices for our long-term debt. Judgment is required to develop these estimates. As such, the fair value of our long-term debt is classified within Level 2, as defined under U.S. GAAP. As a result of the COVID-19 pandemic, the fair value of our long-term debt has fluctuated significantly during the first quarter and may continue to fluctuate based on market conditions and other factors. (d) Recent accounting pronouncements The FASB issued ASU No. 2017-4, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, in January 2017. This guidance eliminates the requirement to calculate the implied fair value, essentially eliminating step two from the goodwill impairment test. The new standard requires goodwill impairment to be based upon the results of step one of the impairment test, which is defined as the excess of the carrying value of a reporting unit over its fair value. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The Company adopted this guidance on January 1, 2020 noting no material impact on the Company’s consolidated financial statements. The FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , in August 2018. The guidance helps align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted this guidance on January 1, 2020 on a prospective basis, noting no material impact on the Company’s consolidated financial statements.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2020
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Variable Interest Entities	Variable Interest Entities The carrying values of VIEs included in the consolidated financial statements as of March 31, 2020 and December 31, 2019 are as follows: March 31, 2020 December 31, 2019 Assets Liabilities Assets Liabilities PF Melville $ 2,642 $ — $ 2,682 $ — MMR 2,180 — 2,206 — Total $ 4,822 $ — $ 4,888 $ — The Company also has variable interests in certain franchisees mainly through the guarantee of lease agreements. The Company’s maximum obligation, as a result of its guarantees of leases, is approximately $14,478 and $10,309 as of March 31, 2020 and December 31, 2019 , 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 estimated fair value of the guarantees, which is not material. In 2019, in connection with a real estate partnership, the Company began guaranteeing certain leases of its franchisees up to a maximum period of ten years with earlier expiration dates possible if certain conditions are met.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions New Jersey Acquisition On December 16, 2019, the Company purchased from one of its franchisees certain assets associated with twelve franchisee-owned stores in New Jersey for a cash payment of $37,812 . As a result of the transaction, the Company incurred a loss on unfavorable reacquired franchise rights of $1,810 . The loss incurred reduced the net purchase price to $36,002 . The Company financed the purchase through cash on hand. The acquired stores are included in the Corporate-owned stores segment. The purchase consideration was allocated as follows: Amount Fixed assets $ 3,044 Reacquired franchise rights 9,480 Customer relationships 940 Favorable leases, net 1,508 Reacquired area development rights 90 Other assets 314 Goodwill 21,069 Liabilities assumed, including deferred revenues (443 ) $ 36,002 The goodwill created through the purchase is attributable to the assumed future value of the cash flows from the stores acquired. The goodwill is amortizable and deductible for tax purposes over 15 years. The acquisition was not material to the results of operations of the Company. Maine Acquisition On May 30, 2019, the Company purchased from one of its franchisees certain assets associated with four franchisee-owned stores in Maine for a cash payment of $14,801 . The Company financed the purchase through cash on hand. The acquired stores are included in the Corporate-owned stores segment. The purchase consideration was allocated as follows: Amount Fixed assets $ 999 Reacquired franchise rights 6,740 Customer relationships 30 Unfavorable leases, net (140 ) Other assets 78 Goodwill 7,239 Liabilities assumed, including deferred revenues (145 ) $ 14,801 The goodwill created through the purchase is attributable to the assumed future value of the cash flows from the stores acquired. The goodwill is amortizable and deductible for tax purposes over 15 years. The acquisition was not material to the results of operations of the Company. Mexico Acquisition On March 19, 2020, the franchisee in Mexico exercised a put option that will require the Company to acquire their franchisee-owned stores in Mexico. The transaction has not closed as of March 31, 2020, and therefore there is no preliminary purchase price allocation. The Company analyzed the contract and estimates that the purchase price will approximate fair value of the acquired assets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible assets	Goodwill and Intangible Assets A summary of goodwill and intangible assets at March 31, 2020 and December 31, 2019 is as follows: March 31, 2020 Weighted average amortization period (years) Gross carrying amount Accumulated amortization Net carrying Amount Customer relationships 11.0 $ 174,033 $ (115,313 ) $ 58,720 Reacquired franchise rights 8.0 37,660 (13,271 ) 24,389 211,693 (128,584 ) 83,109 Indefinite-lived intangible: Trade and brand names N/A 146,600 — 146,600 Total intangible assets $ 358,293 $ (128,584 ) $ 229,709 Goodwill $ 227,821 $ — $ 227,821 December 31, 2019 Weighted Gross Accumulated Net carrying Customer relationships 11.0 $ 174,033 $ (112,114 ) $ 61,919 Reacquired franchise rights 8.0 37,660 (12,258 ) 25,402 211,693 (124,372 ) 87,321 Indefinite-lived intangible: Trade and brand names N/A 146,600 — 146,600 Total intangible assets $ 358,293 $ (124,372 ) $ 233,921 Goodwill $ 227,821 $ — $ 227,821 The Company determined that no impairment charges were required during any periods presented. Amortization expense related to the intangible assets totaled $4,223 and $4,005 for the three months ended March 31, 2020 and 2019 , respectively. The anticipated annual amortization expense related to intangible assets to be recognized in future years as of March 31, 2020 is as follows: Amount Remainder of 2020 $ 12,634 2021 16,636 2022 16,728 2023 16,558 2024 14,067 Thereafter 6,486 Total $ 83,109

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt as of March 31, 2020 and December 31, 2019 consists of the following: March 31, 2020 December 31, 2019 2018-1 Class A-2-I notes $ 566,375 $ 567,813 2018-1 Class A-2-II notes 615,625 617,187 2019-1 Class A-2 notes 548,625 550,000 Borrowings under Variable Funding Notes 75,000 — Total debt, excluding deferred financing costs 1,805,625 1,735,000 Deferred financing costs, net of accumulated amortization (28,398 ) (29,995 ) Total debt 1,777,227 1,705,005 Current portion of long-term debt 17,500 17,500 Long-term debt and borrowings under Variable Funding Notes, net of current portion $ 1,759,727 $ 1,687,505 Future annual principal payments of long-term debt as of March 31, 2020 are as follows: Amount Remainder of 2020 $ 13,125 2021 17,500 2022 568,063 2023 86,750 2024 11,750 Thereafter 1,108,437 Total $ 1,805,625 On August 1, 2018, Planet Fitness Master Issuer LLC (the “Master Issuer”), a limited-purpose, bankruptcy remote, wholly-owned indirect subsidiary of Pla-Fit Holdings, LLC, entered into a base indenture and a related supplemental indenture (collectively, the “2018 Indenture”) under which the Master Issuer may issue multiple series of notes. On the same date, the Master Issuer issued Series 2018-1 4.262% Fixed Rate Senior Secured Notes, Class A-2-I (the “2018 Class A-2-I Notes”) with an initial principal amount of $575,000 and Series 2018-1 4.666% Fixed Rate Senior Secured Notes, Class A-2-II (the “2018 Class A-2-II Notes” and, together with the 2018 Class A-2-I Notes, the “2018 Notes”) with an initial principal amount of $625,000 . In connection with the issuance of the 2018 Notes, the Master Issuer also entered into a revolving financing facility that allows for the incurrence of up to $75,000 in revolving loans and/or letters of credit under the Master Issuer’s Series 2018-1 Variable Funding Senior Notes, Class A-1 (the “Variable Funding Notes”). The Company fully drew down on the Variable Funding Notes on March 20, 2020. Outstanding amounts under the Variable Funding Notes bear interest at a variable rate, which is currently 2.95% . On December 3, 2019 the Master Issuer issued Series 2019-1 3.858% Fixed Rate Senior Secured Notes, Class A-2 (the “2019 Notes” and, together with the 2018 Notes, the “Notes”) with an initial principal amount of $550,000 . The 2019 Notes were issued under the 2018 Indenture and a related supplemental indenture dated December 3, 2019 (together, the “Indenture”). Together the Notes and Variable Funding Notes will be referred to as the “Securitized Senior Notes”. The Notes were issued in a securitization transaction pursuant to which most of the Company’s domestic revenue-generating assets, consisting principally of franchise-related agreements, certain corporate-owned store assets, equipment supply agreements and intellectual property and license agreements for the use of intellectual property, were assigned to the Master Issuer and certain other limited-purpose, bankruptcy remote, wholly-owned indirect subsidiaries of the Company that act as guarantors of the Securitized Senior Notes and that have pledged substantially all of their assets to secure the Securitized Senior Notes. Interest and principal payments on the Notes are payable on a quarterly basis. The requirement to make such quarterly principal payments on the Notes is subject to certain financial conditions set forth in the Indenture. The legal final maturity date of the 2018 Notes is in September 2048, but it is anticipated that, unless earlier prepaid to the extent permitted under the Indenture, the 2018 Class A-2-I Notes will be repaid in September 2022 and the 2018 Class A-2-II Notes will be repaid in September 2025. The legal final maturity date of the 2019 Notes is in December 2049, but it is anticipated that, unless earlier prepaid to the extent permitted under the Indenture, the 2019 Notes will be repaid in December 2029 (together, the “Anticipated Repayment Dates”). If the Master Issuer has not repaid or refinanced the Notes prior to the respective Anticipated Repayment Dates, additional interest will accrue pursuant to the Indenture. As noted above, the Company borrowed the full $75,000 in Variable Funding Notes on March 20, 2020 at a current rate of 2.95% . The Variable Funding Notes accrue interest at a variable interest rate based on (i) the prime rate, (ii) overnight federal funds rates, (iii) the London interbank offered rate for U.S. Dollars, or (iv) with respect to advances made by conduit investors, the weighted average cost of, or related to, the issuance of commercial paper allocated to fund or maintain such advances, in each case plus any applicable margin and as specified in the Variable Funding Notes. There is a commitment fee on the unused portion of the Variable Funding Notes of 0.5% based on utilization. It is anticipated that the principal and interest on the Variable Funding Notes will be repaid in full on or prior to September 2023, subject to two additional one -year extension options. Following the anticipated repayment date (and any extensions thereof) additional interest will accrue on the Variable Funding Notes equal to 5.0% per year. In connection with the issuance of the 2018 Notes and 2019 Notes, the Company incurred debt issuance costs of $ 27,133 and $ 10,577 , respectively. The debt issuance costs are being amortized to “Interest expense” through the Anticipated Repayment Dates of the Notes utilizing the effective interest rate method. The Securitized Senior Notes are subject to covenants and restrictions customary for transactions of this type, including (i) that the Master Issuer maintains specified reserve accounts to be used to make required payments in respect of the Securitized Senior Notes, (ii) provisions relating to optional and mandatory prepayments and the related payment of specified amounts, including specified make-whole payments in the case of the Notes under certain circumstances, (iii) certain indemnification payments in the event, among other things, the assets pledged as collateral for the Securitized Senior Notes are in stated ways defective or ineffective, (iv) a cap on non-securitized indebtedness of $50 million (provided that the Company may incur non-securitized indebtedness in excess of such amount, subject to the leverage ratio cap described below, under certain conditions, including if the relevant lenders execute a non-disturbance agreement that acknowledges the bankruptcy-remote status of the Master Issuer and its subsidiaries and of their respective assets), (v) a leverage ratio cap on the Company of 7.0 x (calculated without regard for any indebtedness subject to the $50 million cap) and (vi) covenants relating to recordkeeping, access to information and similar matters. Pursuant to a parent company support agreement, we have agreed to cause our subsidiary to perform each of its obligations (including any indemnity obligations) and duties under the Management Agreement and under the contribution agreements entered into in connection with the securitized financing facility, in each case as and when due. To the extent that our subsidiary has not performed any such obligation or duty within the prescribed time frame after such obligation or duty was required to be performed, we have agreed to either (i) perform such obligation or duty or (ii) cause such obligations or duties to be performed on our behalf. The Securitized Senior Notes are also subject to customary rapid amortization events provided for in the Indenture, including events tied to failure to maintain stated debt service coverage ratios, certain manager termination events, an event of default, and the failure to repay or refinance the Notes on the applicable scheduled Anticipated Repayment Dates. The Securitized Senior Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal, or other amounts due on or with respect to the Securitized Senior Notes, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties, failure of security interests to be effective, and certain judgments. In accordance with the Indenture, certain cash accounts have been established with the Indenture trustee (the “Trustee”) for the benefit of the trustee and the noteholders, and are restricted in their use. The Company holds restricted cash which primarily represents cash collections held by the Trustee, interest, principal, and commitment fee reserves held by the Trustee related to the Securitized Senior Notes. As of March 31, 2020 , the Company had restricted cash held by the Trustee of $ 63,226 . Restricted cash has been combined with cash and cash equivalents when reconciling the beginning and end of period balances in the consolidated statements of cash flows.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Leases The Company leases space to operate corporate-owned stores, equipment, office, and warehouse space. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For leases beginning in 2019 and later, we account for fixed lease and non-lease components together as a single, combined lease component. Variable lease costs, which may include common area maintenance, insurance, and taxes are not included in the lease liability and are expensed in the period incurred. Our corporate-owned store leases generally have remaining terms of one to ten years , and typically include one or more renewal options, with renewal terms that can generally extend the lease term from three to ten years or more. The exercise of lease renewal options is at our sole discretion. The Company includes options to renew in the expected term when they are reasonably certain to be exercised. The depreciable life of assets and leasehold improvements are limited by the expected lease term. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease ROU assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs and lease incentives. To determine the present value of lease payments not yet paid, we estimate incremental secured borrowing rates corresponding to the maturities of the leases based upon interpolated rates using our Class A-2 Notes. The Company has certain non-real estate leases that are accounted for as finance leases under ASC 842, which is similar to the accounting for capital leases under the previous standard. These leases are immaterial, and therefore the Company has not included them in them in the tables below, except for their location on the consolidated balance sheet. Our leases typically contain rent escalations over the lease term. We recognize expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce our ROU asset related to the lease. These tenant incentives are amortized as reduction of rent expense over the lease term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Leases Classification March 31, 2020 December 31, 2019 Assets Operating lease assets Right of use asset, net $ 150,284 $ 155,633 Finance lease assets Property and equipment, net of accumulated depreciation 314 309 Total lease assets $ 150,598 $ 155,942 Liabilities Current: Operating Other current liabilities $ 17,075 $ 16,755 Noncurrent: Operating Lease liabilities, net of current portion 148,006 152,920 Financing Other liabilities 339 333 Total lease liabilities $ 165,420 $ 170,008 Weighted-average remaining lease term (years) - operating leases 8.4 Weighted-average discount rate - operating leases 5.0 % During the three months ended March 31, 2020 and 2019 , the components of lease cost were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Operating lease cost $ 6,392 $ 4,845 Variable lease cost 2,372 1,941 Total lease cost $ 8,764 $ 6,786 The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial. Supplemental disclosures of cash flow information related to leases were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Cash paid for lease liabilities $ 5,798 $ 4,647 As of March 31, 2020 , maturities of lease liabilities were as follows: Amount Remainder of 2020 $ 24,498 2021 25,373 2022 25,964 2023 25,434 2024 23,376 Thereafter 89,831 Total lease payments $ 214,476 Less: imputed interest 49,056 Present value of lease liabilities $ 165,420 As of March 31, 2020 , operating lease payments exclude approximately $30,598 of legally binding minimum lease payments for leases signed but not yet commenced.
Leases	Leases The Company leases space to operate corporate-owned stores, equipment, office, and warehouse space. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. For leases beginning in 2019 and later, we account for fixed lease and non-lease components together as a single, combined lease component. Variable lease costs, which may include common area maintenance, insurance, and taxes are not included in the lease liability and are expensed in the period incurred. Our corporate-owned store leases generally have remaining terms of one to ten years , and typically include one or more renewal options, with renewal terms that can generally extend the lease term from three to ten years or more. The exercise of lease renewal options is at our sole discretion. The Company includes options to renew in the expected term when they are reasonably certain to be exercised. The depreciable life of assets and leasehold improvements are limited by the expected lease term. Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease ROU assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs and lease incentives. To determine the present value of lease payments not yet paid, we estimate incremental secured borrowing rates corresponding to the maturities of the leases based upon interpolated rates using our Class A-2 Notes. The Company has certain non-real estate leases that are accounted for as finance leases under ASC 842, which is similar to the accounting for capital leases under the previous standard. These leases are immaterial, and therefore the Company has not included them in them in the tables below, except for their location on the consolidated balance sheet. Our leases typically contain rent escalations over the lease term. We recognize expense for these leases on a straight-line basis over the lease term. Additionally, tenant incentives used to fund leasehold improvements are recognized when earned and reduce our ROU asset related to the lease. These tenant incentives are amortized as reduction of rent expense over the lease term. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Leases Classification March 31, 2020 December 31, 2019 Assets Operating lease assets Right of use asset, net $ 150,284 $ 155,633 Finance lease assets Property and equipment, net of accumulated depreciation 314 309 Total lease assets $ 150,598 $ 155,942 Liabilities Current: Operating Other current liabilities $ 17,075 $ 16,755 Noncurrent: Operating Lease liabilities, net of current portion 148,006 152,920 Financing Other liabilities 339 333 Total lease liabilities $ 165,420 $ 170,008 Weighted-average remaining lease term (years) - operating leases 8.4 Weighted-average discount rate - operating leases 5.0 % During the three months ended March 31, 2020 and 2019 , the components of lease cost were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Operating lease cost $ 6,392 $ 4,845 Variable lease cost 2,372 1,941 Total lease cost $ 8,764 $ 6,786 The Company’s costs related to short-term leases, those with a duration between one and twelve months, were immaterial. Supplemental disclosures of cash flow information related to leases were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Cash paid for lease liabilities $ 5,798 $ 4,647 As of March 31, 2020 , maturities of lease liabilities were as follows: Amount Remainder of 2020 $ 24,498 2021 25,373 2022 25,964 2023 25,434 2024 23,376 Thereafter 89,831 Total lease payments $ 214,476 Less: imputed interest 49,056 Present value of lease liabilities $ 165,420 As of March 31, 2020 , operating lease payments exclude approximately $30,598 of legally binding minimum lease payments for leases signed but not yet commenced.

Revenue recognition

Revenue recognition	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue recognition	Revenue recognition Contract Liabilities Contract liabilities consist primarily of deferred revenue resulting from initial and renewal franchise fees and area development agreement (“ADA”) fees paid by franchisees, as well as transfer fees, which are generally recognized on a straight-line basis over the term of the underlying franchise agreement. Also included are corporate-owned store enrollment fees, annual fees and monthly fees as well as deferred equipment rebates relating to our equipment business. We classify these contract liabilities as deferred revenue in our condensed consolidated balance sheets. Additionally, as of March 31, 2020, due to temporary store closures as a result of the COVID-19 pandemic, the Company deferred approximately $24.6 million of corporate-owned store and franchise revenue related to monthly membership billings that it will recognize as the stores reopen. The following table reflects the change in contract liabilities between December 31, 2019 and March 31, 2020 . Contract liabilities Balance at December 31, 2019 $ 62,054 Revenue recognized that was included in the contract liability at the beginning of the year (13,511 ) Increase, excluding amounts recognized as revenue during the period 39,243 Balance at March 31, 2020 $ 87,786 The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2020 . The Company has elected to exclude short term contracts, sales and usage based royalties and any other variable consideration recognized on an “as invoiced” basis. Contract liabilities to be recognized in: Amount Remainder of 2020 $ 51,458 2021 5,051 2022 3,540 2023 3,434 2024 3,185 Thereafter 21,118 Total $ 87,786

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Amounts due from related parties of $420 as of March 31, 2020 recorded within other receivables on the condensed consolidated balance sheet relate to a potential indemnification reimbursement for an outstanding legal matter, see Note 13. Activity with entities considered to be related parties is summarized below: For the three months ended 2020 2019 Franchise revenue $ 500 $ 523 Equipment revenue 93 — Total revenue from related parties $ 593 $ 523 Additionally, the Company had deferred franchise agreement and area development agreement revenue from related parties of $260 and $256 as of March 31, 2020 and December 31, 2019 , respectively. The Company had payables to related parties pursuant to tax benefit arrangements of $31,784 and $ 53,491 , as of March 31, 2020 and December 31, 2019 , respectively (see Note 12). The Company provides administrative services to the NAF and charges NAF a fee for providing these services. The services provided include accounting services, information technology, data processing, product development, legal and administrative support, and other operating expenses, which amounted to $569 and $674 for the three months ended March 31, 2020 and 2019 , respectively. In the three months ended March 31, 2020 , the Company incurred approximately $ 49

Stockholder's Equity

Stockholder's Equity	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholder's Equity	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 of Holdings Units for shares of Class A common stock by a Continuing LLC Owner, 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 canceled. During the three months ended March 31, 2020 , certain existing holders of Holdings Units exercised their exchange rights and exchanged 2,060,443 Holdings Units for 2,060,443 newly-issued shares of Class A common stock. Simultaneously, and in connection with these exchanges, 2,060,443 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 2,060,443 Holdings Units, increasing its total ownership interest in Pla-Fit Holdings. As a result of the above transactions, as of March 31, 2020 : • Holders of our Class A common stock owned 79,927,858 shares of our Class A common stock, representing 92.5% of the voting power in the Company and, through the Company, 79,927,858 Holdings Units representing 92.5% of the economic interest in Pla-Fit Holdings; and • the Continuing LLC Owners collectively owned 6,501,477 Holdings Units, representing 7.5% of the economic interest in Pla-Fit Holdings, and 6,501,477 shares of our Class B common stock, representing 7.5% of the voting power in the Company. Share repurchase program 2019 share repurchase program On November 5, 2019, our board of directors approved a share repurchase program of up to $ 500,000 . On December 4, 2019, the Company entered into a $ 300,000 accelerated share repurchase agreement (the “2019 ASR Agreement”) with JPMorgan Chase Bank, N.A. (“JPMC”). Pursuant to the terms of the 2019 ASR Agreement, on December 5, 2019, the Company paid JPMC $ 300,000 upfront in cash and received 3,289,924 shares of the Company’s Class A common stock, which were retired, and the Company elected to record as a reduction to retained earnings of $240,000 . Final settlement of the ASR Agreement occurred on March 2, 2020. At final settlement, JPMC delivered 666,961 additional shares of the Company’s Class A common stock, based on a weighted average cost per share of $75.82 over the term of the 2019 ASR Agreement, which were retired. This had been evaluated as an unsettled forward contract indexed to our own stock, with $60,000 classified as a reduction to retained earnings at the original date of payment. On March 18, 2020, the Company announced the suspension of its 2019 share repurchase program. If the 2019 share repurchase program is reinstated, the timing of purchases and amount of stock repurchased will be subject to the Company’s discretion and will depend on market and business conditions, the Company’s general working capital needs, stock price, applicable legal requirements and other factors. Our ability to repurchase shares at any particular time is also subject to the terms of the Indenture governing the Securitized Senior Notes. Purchases may be effected through one or more open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing. The Company may reinstate or terminate the program at any time. 2018 share repurchase program On August 3, 2018, our board of directors approved an increase to the total amount of the previously approved share repurchase program to $ 500,000 . On November 13, 2018, the Company entered into a $ 300,000 accelerated share repurchase agreement (the “2018 ASR Agreement”) with Citibank, N.A. (“Citibank”). Pursuant to the terms of the 2018 ASR Agreement, on November 14, 2018, the Company paid Citibank $ 300,000 upfront in cash and received 4,607,410 shares of the Company’s Class A common stock, which were retired, and the Company elected to record as a reduction to retained earnings of $ 240,000 . Final settlement of the 2018 ASR Agreement occurred on April 30, 2019. At final settlement, Citibank delivered 524,124 additional shares of the Company’s Class A common stock, based on a weighted average cost per share of $58.46 over the term of the 2018 ASR agreement, which were retired. This had been evaluated as an unsettled forward contract indexed to our own stock, with $ 60,000 classified as a reduction to retained earnings at the original date of payment. During the three months ended September 30, 2019, the Company purchased 2,272,001 shares of its Class A common stock for an average purchase price of $69.51 per share, completing its previously approved $500,000 share repurchase program. Preferred stock The Company had 50,000,000 preferred stock shares authorized and none issued or outstanding for the three months ended March 31, 2020 and 2019 .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	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 2020 2019 Numerator Net income $ 10,383 $ 31,639 Less: net income attributable to non-controlling interests 1,776 4,230 Net income attributable to Planet Fitness, Inc. $ 8,607 $ 27,409 Denominator Weighted-average shares of Class A common stock outstanding - basic 79,098,468 83,805,545 Effect of dilutive securities: Stock options 574,286 569,864 Restricted stock units 50,614 49,866 Weighted-average shares of Class A common stock outstanding - diluted 79,723,368 84,425,275 Earnings per share of Class A common stock - basic $ 0.11 $ 0.33 Earnings per share of Class A common stock - diluted $ 0.11 $ 0.32 Weighted average shares of Class B common stock of 7,777,435 and 9,238,948 for the three months ended March 31, 2020 and 2019 , respectively, were evaluated under the if-converted method for potential dilutive effects and were determined to be anti-dilutive. Weighted average stock options outstanding of 114,342 and 29,285 for the three months ended March 31, 2020 and 2019 , respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive. Weighted average restricted stock units outstanding of 2,827 and 0 for the three months ended March 31, 2020 and 2019 , respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	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’s effective tax rate was 32.0% and 14.3% for the three months ended March 31, 2020 and 2019 , respectively. The effective tax rate for the three months ended March 31, 2020 differed from the U.S. federal statutory rate of 21% primarily due to state and local taxes, the recognition of a tax expense from the remeasurement of the Company's net deferred tax assets, partially offset by income attributable to non-controlling interest. The effective tax rate for the three months ended March 31, 2019 differed from the U.S. federal statutory rate of 21% primarily due the recognition of a tax benefit from the remeasurement of the Company's net deferred tax assets, and income attributable to non-controlling interest, offset by state and local taxes. The Company was also subject to taxes in foreign jurisdictions. Undistributed earnings of foreign operations were not material for the three months ended March 31, 2020 and 2019 . Net deferred tax assets of $ 455,183 and $ 411,177 as of March 31, 2020 and December 31, 2019 , 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 the IPO. As of March 31, 2020 , the Company has federal net operating loss carryforwards of $ 20,313 . As of March 31, 2020 and December 31, 2019 , the total liability related to uncertain tax positions was $ 420 . The Company recognizes interest accrued and penalties, if applicable, related to unrecognized tax benefits in income tax expense. Interest and penalties for the three months ended March 31, 2020 and 2019 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 exchanges 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 TSG AIV II-A L.P and TSG PF Co-Investors A L.P. (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. During the three months ended March 31, 2020 , 2,060,443 Holdings Units were exchanged 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, we recorded a decrease to our net deferred tax assets of $1,331 during the three months ended March 31, 2020 . As a result of these exchanges, during the three months ended March 31, 2020 , we also recognized deferred tax assets in the amount of $49,518 , and corresponding tax benefit arrangement liabilities of $41,997 , representing approximately 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 March 31, 2020 and December 31, 2019 , the Company had a liability of $ 468,711 and $ 427,216 , 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 2020 $ 26,468 2021 27,260 2022 30,462 2023 30,999 2024 31,636 Thereafter 321,886 Total $ 468,711

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	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. On May 3, 2019, the Company and other defendants received a joint and several judgment against them in the amount of $6,300 , inclusive of accrued interest, in a civil action brought by a former employee. As of March 31, 2020 , the Company has estimated its obligation related to this matter to be approximately $1,260 , which is included in other current liabilities on the condensed consolidated balance sheet. In connection with 2012 acquisition of Pla-Fit Holdings on November 8, 2012, the sellers are obligated to indemnify the Company related to this specific matter. The Company has therefore recorded an offsetting indemnification receivable of $1,260 in other receivables on the Company’s condensed consolidated balance sheet, of which $420 is due from a related party. The Company has incurred, and may incur in the future, legal costs on behalf of the defendants in the case, which include a related party. These costs have not been and are not expected to be material in the future. The Company is not currently aware of any other 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	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segments	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, the Dominican Republic, Panama, Mexico and Australia, including revenues and expenses from the NAF. 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 our United States 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 months ended March 31, 2020 and 2019 . 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 2020 2019 Revenue Franchise segment revenue - U.S. $ 57,342 $ 64,396 Franchise segment revenue - International 1,187 1,366 Franchise segment total 58,529 65,762 Corporate-owned stores - U.S. 39,566 36,949 Corporate-owned stores - International 950 1,095 Corporate-owned stores total 40,516 38,044 Equipment segment - U.S. 28,186 45,011 Equipment segment total 28,186 45,011 Total revenue $ 127,231 $ 148,817 Franchise segment revenue includes franchise revenue, NAF revenue, and commission income. Franchise revenue includes revenue generated from placement services of $2,013 and $2,765 for the three months ended March 31, 2020 and 2019 . Three months ended 2020 2019 Segment EBITDA Franchise $ 36,746 $ 47,360 Corporate-owned stores 12,007 15,569 Equipment 6,367 10,407 Corporate and other (8,748 ) (13,562 ) Total Segment EBITDA $ 46,372 $ 59,774 The following table reconciles total Segment EBITDA to income before taxes: Three months ended 2020 2019 Total Segment EBITDA $ 46,372 $ 59,774 Less: Depreciation and amortization 12,792 9,907 Other expense (687 ) (3,318 ) Income from operations 34,267 53,185 Interest income 1,927 1,798 Interest expense (20,240 ) (14,749 ) Other expense (687 ) (3,318 ) Income before income taxes $ 15,267 $ 36,916 The following table summarizes the Company’s assets by reportable segment: March 31, 2020 December 31, 2019 Franchise $ 203,930 $ 193,504 Corporate-owned stores 477,501 471,234 Equipment 187,700 197,656 Unallocated 1,006,505 854,796 Total consolidated assets $ 1,875,636 $ 1,717,190 The table above includes $892 and $1,039 of long-lived assets located in the Company’s international corporate-owned stores as of March 31, 2020 and December 31, 2019 , respectively. All other assets are located in the U.S. The following table summarizes the Company’s goodwill by reportable segment: March 31, 2020 December 31, 2019 Franchise $ 16,938 $ 16,938 Corporate-owned stores 118,217 118,217 Equipment 92,666 92,666 Consolidated goodwill $ 227,821 $ 227,821

Corporate-Owned and Franchisee-

Corporate-Owned and Franchisee-Owned Stores	3 Months Ended
	Mar. 31, 2020
Franchisors [Abstract]
Corporate-Owned and Franchisee-Owned Stores	Corporate-Owned and Franchisee-Owned Stores The following table shows changes in our corporate-owned and franchisee-owned stores for the three months ended March 31, 2020 and 2019 : For the three months ended 2020 2019 Franchisee-owned stores: Stores operated at beginning of period 1,903 1,666 New stores opened 38 65 Stores debranded, sold or consolidated (1) (1 ) (1 ) Stores operated at end of period (2) 1,940 1,730 Corporate-owned stores: Stores operated at beginning of period 98 76 New stores opened 1 — Stores acquired from franchisees — — Stores operated at end of period (2) 99 76 Total stores: Stores operated at beginning of period 2,001 1,742 New stores opened 39 65 Stores acquired, debranded, sold or consolidated (1) (1 ) (1 ) Stores operated at end of period (2) 2,039 1,806 (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. The Company retains 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. (2) The totals above reflect stores operating prior to temporary store closures related to the COVID-19 pandemic. All stores were closed in March 2020 in response to COVID-19 and remained closed as of March 31, 2020.

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent events	Subsequent events Subsequent to the end of the first quarter, the Company provided a short-term loan of approximately $8,950 to its third party payment processor related to amounts drafted by franchisee-owned stores in March that were not collected as part of the typical monthly process as a result of the impact of COVID-19. Repayment of this loan will occur over several months, once the stores reopen.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of presentation and consolidation	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 months ended March 31, 2020 and 2019 are unaudited. The condensed consolidated balance sheet as of December 31, 2019 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, 2019 (the “Annual Report”) filed with the SEC on February 28, 2020 . Operating results for the interim periods are not necessarily indicative of the results that may be expected for the full year. As discussed in Note 1, 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”), PF Melville LLC (“PF Melville”), and Planet Fitness NAF, LLC (the “NAF”) based on the determination that the Company is the primary beneficiary with respect to these VIEs. MMR and PF Melville 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. The NAF is an advertising fund on behalf of which the Company collects 2%
Use of estimates	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, the liability for the Company’s tax benefit arrangements, and the value of the lease liability and related right-of-use asset recorded in accordance with ASC 842 (see Note 7).
Fair Value	Fair Value ASC 820, Fair Value Measurements and Disclosures , establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. Categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: 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.
Recent accounting pronouncements	Recent accounting pronouncements The FASB issued ASU No. 2017-4, Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, in January 2017. This guidance eliminates the requirement to calculate the implied fair value, essentially eliminating step two from the goodwill impairment test. The new standard requires goodwill impairment to be based upon the results of step one of the impairment test, which is defined as the excess of the carrying value of a reporting unit over its fair value. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The Company adopted this guidance on January 1, 2020 noting no material impact on the Company’s consolidated financial statements. The FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , in August 2018. The guidance helps align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted this guidance on January 1, 2020 on a prospective basis, noting no material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Summary of Company's Liabilities Measured at Fair Value	The carrying value and estimated fair value of long-term debt as of March 31, 2020 and December 31, 2019 were as follows: March 31, 2020 December 31, 2019 Carrying value Estimated fair value (1) Carrying value Estimated fair value (1) Long-term debt $ 1,730,625 $ 1,498,371 $ 1,735,000 $ 1,765,805 Variable Funding Notes $ 75,000 $ 75,000 $ — $ — (1) The Company’s Variable Funding Notes are a variable rate loan and the fair value of this loan approximates book value based on the borrowing rates currently available for variable rate loans obtained from third party lending institutions. The estimated fair value of our fixed rate long-term debt is estimated primarily based on current bid prices for our long-term debt. Judgment is required to develop these estimates. As such, the fair value of our long-term debt is classified within Level 2, as defined under U.S. GAAP.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2020
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Carrying Value of Variable Interest Entities of Consolidated Financial Statements	The carrying values of VIEs included in the consolidated financial statements as of March 31, 2020 and December 31, 2019 are as follows: March 31, 2020 December 31, 2019 Assets Liabilities Assets Liabilities PF Melville $ 2,642 $ — $ 2,682 $ — MMR 2,180 — 2,206 — Total $ 4,822 $ — $ 4,888 $ —

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Purchase Consideration Allocation	The purchase consideration was allocated as follows: Amount Fixed assets $ 3,044 Reacquired franchise rights 9,480 Customer relationships 940 Favorable leases, net 1,508 Reacquired area development rights 90 Other assets 314 Goodwill 21,069 Liabilities assumed, including deferred revenues (443 ) $ 36,002 The purchase consideration was allocated as follows: Amount Fixed assets $ 999 Reacquired franchise rights 6,740 Customer relationships 30 Unfavorable leases, net (140 ) Other assets 78 Goodwill 7,239 Liabilities assumed, including deferred revenues (145 ) $ 14,801

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets	A summary of goodwill and intangible assets at March 31, 2020 and December 31, 2019 is as follows: March 31, 2020 Weighted average amortization period (years) Gross carrying amount Accumulated amortization Net carrying Amount Customer relationships 11.0 $ 174,033 $ (115,313 ) $ 58,720 Reacquired franchise rights 8.0 37,660 (13,271 ) 24,389 211,693 (128,584 ) 83,109 Indefinite-lived intangible: Trade and brand names N/A 146,600 — 146,600 Total intangible assets $ 358,293 $ (128,584 ) $ 229,709 Goodwill $ 227,821 $ — $ 227,821 December 31, 2019 Weighted Gross Accumulated Net carrying Customer relationships 11.0 $ 174,033 $ (112,114 ) $ 61,919 Reacquired franchise rights 8.0 37,660 (12,258 ) 25,402 211,693 (124,372 ) 87,321 Indefinite-lived intangible: Trade and brand names N/A 146,600 — 146,600 Total intangible assets $ 358,293 $ (124,372 ) $ 233,921 Goodwill $ 227,821 $ — $ 227,821
Summary of Amortization expenses	The anticipated annual amortization expense related to intangible assets to be recognized in future years as of March 31, 2020 is as follows: Amount Remainder of 2020 $ 12,634 2021 16,636 2022 16,728 2023 16,558 2024 14,067 Thereafter 6,486 Total $ 83,109

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt as of March 31, 2020 and December 31, 2019 consists of the following: March 31, 2020 December 31, 2019 2018-1 Class A-2-I notes $ 566,375 $ 567,813 2018-1 Class A-2-II notes 615,625 617,187 2019-1 Class A-2 notes 548,625 550,000 Borrowings under Variable Funding Notes 75,000 — Total debt, excluding deferred financing costs 1,805,625 1,735,000 Deferred financing costs, net of accumulated amortization (28,398 ) (29,995 ) Total debt 1,777,227 1,705,005 Current portion of long-term debt 17,500 17,500 Long-term debt and borrowings under Variable Funding Notes, net of current portion $ 1,759,727 $ 1,687,505
Schedule of Future Annual Payments of Long-term Debt	Future annual principal payments of long-term debt as of March 31, 2020 are as follows: Amount Remainder of 2020 $ 13,125 2021 17,500 2022 568,063 2023 86,750 2024 11,750 Thereafter 1,108,437 Total $ 1,805,625

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Balance Sheet Classification of Lease Assets and Liabilities	Leases Classification March 31, 2020 December 31, 2019 Assets Operating lease assets Right of use asset, net $ 150,284 $ 155,633 Finance lease assets Property and equipment, net of accumulated depreciation 314 309 Total lease assets $ 150,598 $ 155,942 Liabilities Current: Operating Other current liabilities $ 17,075 $ 16,755 Noncurrent: Operating Lease liabilities, net of current portion 148,006 152,920 Financing Other liabilities 339 333 Total lease liabilities $ 165,420 $ 170,008 Weighted-average remaining lease term (years) - operating leases 8.4 Weighted-average discount rate - operating leases 5.0 %
Components of Lease Cost	Supplemental disclosures of cash flow information related to leases were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Cash paid for lease liabilities $ 5,798 $ 4,647 During the three months ended March 31, 2020 and 2019 , the components of lease cost were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Operating lease cost $ 6,392 $ 4,845 Variable lease cost 2,372 1,941 Total lease cost $ 8,764 $ 6,786
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases	Supplemental disclosures of cash flow information related to leases were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Cash paid for lease liabilities $ 5,798 $ 4,647 During the three months ended March 31, 2020 and 2019 , the components of lease cost were as follows: Three months ended March 31, 2020 Three months ended March 31, 2019 Operating lease cost $ 6,392 $ 4,845 Variable lease cost 2,372 1,941 Total lease cost $ 8,764 $ 6,786
Maturities of Operating Lease Liabilities	As of March 31, 2020 , maturities of lease liabilities were as follows: Amount Remainder of 2020 $ 24,498 2021 25,373 2022 25,964 2023 25,434 2024 23,376 Thereafter 89,831 Total lease payments $ 214,476 Less: imputed interest 49,056 Present value of lease liabilities $ 165,420

Revenue recognition (Tables)

Revenue recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Contract Liabilities	The following table reflects the change in contract liabilities between December 31, 2019 and March 31, 2020 . Contract liabilities Balance at December 31, 2019 $ 62,054 Revenue recognized that was included in the contract liability at the beginning of the year (13,511 ) Increase, excluding amounts recognized as revenue during the period 39,243 Balance at March 31, 2020 $ 87,786
Remaining Performance Obligation	The following table illustrates estimated revenues expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2020 . The Company has elected to exclude short term contracts, sales and usage based royalties and any other variable consideration recognized on an “as invoiced” basis. Contract liabilities to be recognized in: Amount Remainder of 2020 $ 51,458 2021 5,051 2022 3,540 2023 3,434 2024 3,185 Thereafter 21,118 Total $ 87,786

Related party transactions (Tab

Related party transactions (Tables)	3 Months Ended
	Mar. 31, 2020
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 2020 2019 Franchise revenue $ 500 $ 523 Equipment revenue 93 — Total revenue from related parties $ 593 $ 523

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2020
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 2020 2019 Numerator Net income $ 10,383 $ 31,639 Less: net income attributable to non-controlling interests 1,776 4,230 Net income attributable to Planet Fitness, Inc. $ 8,607 $ 27,409 Denominator Weighted-average shares of Class A common stock outstanding - basic 79,098,468 83,805,545 Effect of dilutive securities: Stock options 574,286 569,864 Restricted stock units 50,614 49,866 Weighted-average shares of Class A common stock outstanding - diluted 79,723,368 84,425,275 Earnings per share of Class A common stock - basic $ 0.11 $ 0.33 Earnings per share of Class A common stock - diluted $ 0.11 $ 0.32

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2020
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 2020 $ 26,468 2021 27,260 2022 30,462 2023 30,999 2024 31,636 Thereafter 321,886 Total $ 468,711

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Summary of Financial Information for the Company's Reportable Segments	Three months ended 2020 2019 Segment EBITDA Franchise $ 36,746 $ 47,360 Corporate-owned stores 12,007 15,569 Equipment 6,367 10,407 Corporate and other (8,748 ) (13,562 ) Total Segment EBITDA $ 46,372 $ 59,774 The tables below summarize the financial information for the Company’s reportable segments for the three months ended March 31, 2020 and 2019 . 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 2020 2019 Revenue Franchise segment revenue - U.S. $ 57,342 $ 64,396 Franchise segment revenue - International 1,187 1,366 Franchise segment total 58,529 65,762 Corporate-owned stores - U.S. 39,566 36,949 Corporate-owned stores - International 950 1,095 Corporate-owned stores total 40,516 38,044 Equipment segment - U.S. 28,186 45,011 Equipment segment total 28,186 45,011 Total revenue $ 127,231 $ 148,817
Reconciliation of Total Segment EBITDA to Income Before Taxes	The following table reconciles total Segment EBITDA to income before taxes: Three months ended 2020 2019 Total Segment EBITDA $ 46,372 $ 59,774 Less: Depreciation and amortization 12,792 9,907 Other expense (687 ) (3,318 ) Income from operations 34,267 53,185 Interest income 1,927 1,798 Interest expense (20,240 ) (14,749 ) Other expense (687 ) (3,318 ) Income before income taxes $ 15,267 $ 36,916
Summary of Company's Assets by Reportable Segment	The following table summarizes the Company’s assets by reportable segment: March 31, 2020 December 31, 2019 Franchise $ 203,930 $ 193,504 Corporate-owned stores 477,501 471,234 Equipment 187,700 197,656 Unallocated 1,006,505 854,796 Total consolidated assets $ 1,875,636 $ 1,717,190
Summary of Company's Goodwill by Reportable Segment	The following table summarizes the Company’s goodwill by reportable segment: March 31, 2020 December 31, 2019 Franchise $ 16,938 $ 16,938 Corporate-owned stores 118,217 118,217 Equipment 92,666 92,666 Consolidated goodwill $ 227,821 $ 227,821

Corporate-Owned and Franchise_2

Corporate-Owned and Franchisee-Owned Stores (Tables)	3 Months Ended
	Mar. 31, 2020
Franchisors [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 months ended March 31, 2020 and 2019 : For the three months ended 2020 2019 Franchisee-owned stores: Stores operated at beginning of period 1,903 1,666 New stores opened 38 65 Stores debranded, sold or consolidated (1) (1 ) (1 ) Stores operated at end of period (2) 1,940 1,730 Corporate-owned stores: Stores operated at beginning of period 98 76 New stores opened 1 — Stores acquired from franchisees — — Stores operated at end of period (2) 99 76 Total stores: Stores operated at beginning of period 2,001 1,742 New stores opened 39 65 Stores acquired, debranded, sold or consolidated (1) (1 ) (1 ) Stores operated at end of period (2) 2,039 1,806 (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. The Company retains 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. (2) The totals above reflect stores operating prior to temporary store closures related to the COVID-19 pandemic. All stores were closed in March 2020 in response to COVID-19 and remained closed as of March 31, 2020.

Business Organization - Additio

Business Organization - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020memberstorestatesegment	Dec. 31, 2019store	Mar. 31, 2019store	Dec. 31, 2018store	Aug. 05, 2015
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of owned and franchised locations | store	2,039	2,001	1,806	1,742
Number of states in which entity operates | state	50
Number of reportable segments | segment	3
Pla-Fit Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership (in percentage)	100.00%				100.00%
Percentage of economic interest (in percentage)	92.50%
Pla-Fit Holdings, LLC | Holdings Units
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of economic interest (in percentage)	7.50%
Planet Intermediate, LLC | Pla-Fit Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership (in percentage)					100.00%
Planet Fitness Holdings, LLC | Planet Intermediate, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership (in percentage)					100.00%
Minimum
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of members (more than) | member	15,500,000

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020
Planet Fitness NAF, LLC
Significant Accounting Policies [Line Items]
Percentage of franchise membership billing revenue	2.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Company's Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 1,730,625	$ 1,735,000
Variable Funding Notes	75,000	0
Estimated fair value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	1,498,371	1,765,805
Variable Funding Notes	$ 75,000	$ 0

Variable Interest Entities - Ca

Variable Interest Entities - Carrying Value of Variable Interest Entities of Consolidated Financial Statements (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 1,875,636	$ 1,717,190
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	4,822	4,888
Liabilities	0	0
Variable Interest Entity, Primary Beneficiary | PF Melville
Variable Interest Entity [Line Items]
Assets	2,642	2,682
Liabilities	0	0
Variable Interest Entity, Primary Beneficiary | MMR
Variable Interest Entity [Line Items]
Assets	2,180	2,206
Liabilities	$ 0	$ 0

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Maximum obligation of guarantees of leases and debt	$ 10,309	$ 14,478
Franchisee lease term, maximum	10 years

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Thousands	Dec. 16, 2019USD ($)store	May 30, 2019USD ($)store	Mar. 31, 2020store	Dec. 31, 2019store	Mar. 31, 2019store	Dec. 31, 2018store
Business Acquisition [Line Items]
Number of owned and franchised locations | store			2,039	2,001	1,806	1,742
New Jersey Acquisition
Business Acquisition [Line Items]
Number of owned and franchised locations | store	12
Acquisition, gross cash payments	$ 37,812
Loss on reacquired franchise rights	1,810
Consideration transferred	$ 36,002
Maine Acquisition
Business Acquisition [Line Items]
Number of owned and franchised locations | store		4
Acquisition, gross cash payments		$ 14,801

Acquisitions - Purchase Conside

Acquisitions - Purchase Consideration Allocation (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Dec. 16, 2019	May 30, 2019
Business Acquisition [Line Items]
Goodwill	$ 227,821	$ 227,821
New Jersey Acquisition
Business Acquisition [Line Items]
Fixed assets			$ 3,044
Other assets			314
Goodwill			21,069
Liabilities assumed, including deferred revenues			(443)
Net assets acquired			36,002
Maine Acquisition
Business Acquisition [Line Items]
Fixed assets				$ 999
Unfavorable leases, net				(140)
Other assets				78
Goodwill				7,239
Liabilities assumed, including deferred revenues				(145)
Net assets acquired				14,801
Reacquired franchise rights | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			9,480
Reacquired franchise rights | Maine Acquisition
Business Acquisition [Line Items]
Intangible assets				6,740
Customer relationships | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			940
Customer relationships | Maine Acquisition
Business Acquisition [Line Items]
Intangible assets				$ 30
Favorable leases, net | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			1,508
Reacquired area development rights | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			$ 90

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	$ 211,693	$ 211,693
Accumulated amortization	(128,584)	(124,372)
Net carrying Amount	83,109	87,321
Total intangible assets, Gross carrying amount	358,293	358,293
Total intangible assets, Net carrying Amount	229,709	233,921
Goodwill, gross carrying amount	227,821	227,821
Goodwill, Accumulated amortization	0	0
Goodwill, net carrying amount	227,821	227,821
Trade and brand names
Goodwill And Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 146,600	$ 146,600
Customer relationships
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	11 years	11 years
Gross carrying amount	$ 174,033	$ 174,033
Accumulated amortization	(115,313)	(112,114)
Net carrying Amount	$ 58,720	$ 61,919
Reacquired franchise rights
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	8 years	8 years
Gross carrying amount	$ 37,660	$ 37,660
Accumulated amortization	(13,271)	(12,258)
Net carrying Amount	$ 24,389	$ 25,402

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges	$ 0		$ 0
Amortization of intangible assets	$ 4,223,000	$ 4,005,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Amortization expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2020	$ 12,634
2021	16,636
2022	16,728
2023	16,558
2024	14,067
Thereafter	6,486
Net carrying Amount	$ 83,109	$ 87,321

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 1,805,625	$ 1,735,000
Deferred financing costs, net of accumulated amortization	(28,398)	(29,995)
Total debt	1,777,227	1,705,005
Current portion of long-term debt	17,500	17,500
Long-term debt and borrowings under Variable Funding Notes, net of current portion	1,759,727	1,687,505
2018-1 Class A-2-I notes | Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	566,375	567,813
2018-1 Class A-2-II notes | Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	615,625	617,187
2019-1 Class A-2 notes | Senior fixed-rate term notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	548,625	550,000
Revolving Financing Facility | Borrowings under Variable Funding Notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 75,000	$ 0

Long-Term Debt - Schedule of Fu

Long-Term Debt - Schedule of Future Annual Payments of Long-term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Remainder of 2020	$ 13,125
2021	17,500
2022	568,063
2023	86,750
2024	11,750
Thereafter	1,108,437
Total	$ 1,805,625	$ 1,735,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details)	Dec. 03, 2019USD ($)	Aug. 01, 2018USD ($)extension	Sep. 30, 2023	Mar. 31, 2020USD ($)	Mar. 20, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Debt issuance costs incurred	$ 10,577,000	$ 27,133,000
Restricted cash				$ 63,226,000		$ 42,539,000
2018-1 Class A-2-I notes | Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate		4.262%
Debt face amount		$ 575,000,000
2018-1 Class A-2-II notes | Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate		4.666%
Debt face amount		$ 625,000,000
2019-1 Class A-2 notes | Senior fixed-rate term notes
Debt Instrument [Line Items]
Fixed interest rate	3.858%
Debt face amount	$ 550,000,000
Securitized Senior Notes | Securitized Senior Notes
Debt Instrument [Line Items]
Cap on non-securitized indebtedness				$ 50,000,000
Leverage ratio cap				7
Variable funding notes | Revolving Financing Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 75,000,000
Variable rate percentage					2.95%
Borrowings on line of credit					$ 75,000
Commitment fee percentage		0.50%
Number of additional extensions | extension		2
Term of extension		1 year
Variable funding notes | Revolving Financing Facility | Scenario, Forecast
Debt Instrument [Line Items]
Line of credit interest rate			5.00%

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Lessee, Lease, Description [Line Items]
Lease payments for leases signed but not yet commenced	$ 30,598
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Renewal term	3 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years
Renewal term	10 years

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease assets	$ 150,284	$ 155,633
Finance lease assets	314	309
Total lease assets	150,598	155,942
Current operating lease liabilities	17,075	16,755
Noncurrent operating lease liabilities	148,006	152,920
Noncurrent finance lease liabilities	339	333
Total lease liabilities	$ 165,420	$ 170,008
Weighted-average remaining lease term (years) - operating leases	8 years 4 months 24 days
Weighted-average discount rate - operating leases	5.00%

Leases Leases - Components of L

Leases Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease cost	$ 6,392	$ 4,845
Variable lease cost	2,372	1,941
Total lease cost	$ 8,764	$ 6,786

Leases Leases - Supplemental Di

Leases Leases - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Cash paid for lease liabilities	$ 5,798	$ 4,647

Leases Leases - Maturities of L

Leases Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
Remainder of 2020	$ 24,498
2021	25,373
2022	25,964
2023	25,434
2024	23,376
Thereafter	89,831
Total lease payments	214,476
Less: imputed interest	49,056
Present value of lease liabilities	$ 165,420

Revenue recognition - Narrative

Revenue recognition - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 87,786	$ 62,054
Corporate-owned stores and franchise segment
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 24,600

Revenue recognition - Schedule

Revenue recognition - Schedule of Contract Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Contract liabilities
Beginning Balance	$ 62,054
Revenue recognized that was included in the contract liability at the beginning of the year	(13,511)
Increase, excluding amounts recognized as revenue during the period	39,243
Ending Balance	$ 87,786

Revenue recognition - Remaining

Revenue recognition - Remaining Performance Obligation (Details) $ in Thousands	Mar. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 87,786
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 51,458
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 5,051
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 3,540
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 3,434
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 3,185
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 21,118
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Liability payable under tax benefit obligations	$ 31,784		$ 53,491
Administrative fees charged	593	$ 523
Area Development Agreements
Related Party Transaction [Line Items]
Deferred area development revenue from related parties	260		$ 256
Corporate Travel | Affiliated Entity
Related Party Transaction [Line Items]
Expense incurred for corporate travel to a third-party company	49
Administrative Service | Planet Fitness NAF, LLC
Related Party Transaction [Line Items]
Administrative fees charged	569	$ 674
Civil Action Brought By Former Employee | Pending Litigation
Related Party Transaction [Line Items]
Receivables due from related parties	$ 420

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Related Party Transaction [Line Items]
Total revenue from related parties	$ 593	$ 523
Franchise revenue
Related Party Transaction [Line Items]
Total revenue from related parties	500	523
Equipment revenue
Related Party Transaction [Line Items]
Total revenue from related parties	$ 93	$ 0

Stockholder's Equity - Addition

Stockholder's Equity - Additional Information (Detail) - USD ($)	Mar. 02, 2020	Dec. 05, 2019	Apr. 30, 2019	Nov. 14, 2018	Mar. 31, 2020	Sep. 30, 2019	Dec. 04, 2019	Nov. 05, 2019	Mar. 31, 2019	Nov. 13, 2018	Aug. 03, 2018
Class of Stock [Line Items]
Stock repurchase program, authorized amount								$ 500,000,000			$ 500,000,000
Preferred Stock, Shares Authorized (in shares)					50,000,000				50,000,000
Preferred Stock, Shares Issued (in shares)					0				0
Preferred Stock, Shares Outstanding (in shares)					0				0
Pla-Fit Holdings, LLC
Class of Stock [Line Items]
Number of shares exchanged					2,060,443
Holdings Units
Class of Stock [Line Items]
Number of shares exchanged					2,060,443
Investor | Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)					79,927,858
Investor | Pla-Fit Holdings, LLC | Secondary Offering and Exchange
Class of Stock [Line Items]
Percentage of economic interest					92.50%
Continuing LLC Owners | Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)					6,501,477
Continuing LLC Owners | Pla-Fit Holdings, LLC | Secondary Offering and Exchange
Class of Stock [Line Items]
Percentage of economic interest					7.50%
Holdings Units
Class of Stock [Line Items]
Shares exchanged for Class A common stock					1
Class A Common Stock
Class of Stock [Line Items]
Number of shares exchanged					2,060,443
Class A Common Stock | Investor | Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)					79,927,858
Class A Common Stock | Investor | Pla-Fit Holdings, LLC | Secondary Offering and Exchange
Class of Stock [Line Items]
Percentage of voting interests acquired					92.50%
Class B Common Stock
Class of Stock [Line Items]
Shares exchanged for Class A common stock					1
Number of shares exchanged					2,060,443
Class B Common Stock | Continuing LLC Owners | Secondary Offering and Exchange
Class of Stock [Line Items]
Number of units held by owners (in shares)					6,501,477
Class B Common Stock | Continuing LLC Owners | Pla-Fit Holdings, LLC | Secondary Offering and Exchange
Class of Stock [Line Items]
Percentage of voting interests acquired					7.50%
2019 ASR Agreement
Class of Stock [Line Items]
Stock repurchase program, authorized amount							$ 300,000,000
Repurchase and retirement of common stock	$ 60,000,000	$ 240,000,000
2019 ASR Agreement | Class A Common Stock
Class of Stock [Line Items]
Stock repurchased (in shares)	666,961	3,289,924
Weighted average cost per share (in dollars per share)	$ 75.82
2018 ASR Agreement
Class of Stock [Line Items]
Stock repurchase program, authorized amount										$ 300,000,000
Repurchase and retirement of common stock			$ 60,000,000	$ 240,000,000
2018 ASR Agreement | Class A Common Stock
Class of Stock [Line Items]
Stock repurchased (in shares)			524,124	4,607,410		2,272,001
Weighted average cost per share (in dollars per share)			$ 58.46			$ 69.51

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from the calculation of earnings per share	114,342	29,285
Restricted Stock Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from the calculation of earnings per share	2,827	0
Holdings Units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares exchanged for Class A common stock	1
Class B Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares exchanged for Class A common stock	1
Class B Common Stock | Equity Unit Purchase Agreements
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Anti-dilutive securities excluded from the calculation of earnings per share	7,777,435	9,238,948

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
	Mar. 31, 2020	Mar. 31, 2019
Numerator
Net income	$ 10,383	$ 31,639
Less: net income attributable to non-controlling interests	1,776	4,230
Net income attributable to Planet Fitness, Inc.	$ 8,607	$ 27,409
Stock Options
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (in shares)	574,286	569,864
Restricted Stock Units
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (in shares)	50,614	49,866
Class A Common Stock
Denominator
Weighted-average shares of Class A common stock outstanding - basic (in shares)	79,098,468	83,805,545
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding - diluted (in shares)	79,723,368	84,425,275
Earnings per share of Class A common stock - basic (in dollars per share)	$ 0.11	$ 0.33
Earnings per share of Class A common stock - diluted (in dollars per share)	$ 0.11	$ 0.32

Income Taxes - Additional infor

Income Taxes - Additional information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)agreementshares	Mar. 31, 2019	Dec. 31, 2019USD ($)
Tax Credit Carryforward [Line Items]
Effective income tax rate	32.00%	14.30%
U.S. federal statutory rate	21.00%	21.00%
Net deferred tax assets	$ 455,183		$ 411,177
Federal net operating loss	20,313
Total liability related to uncertain tax positions	$ 420		420
Number of tax receivable agreements | agreement	2
Percentage of remaining tax savings	15.00%
Tax benefit obligation	$ 468,711		$ 427,216
TRA Holders
Tax Credit Carryforward [Line Items]
Applicable tax savings	85.00%
Decrease in deferred tax assets	$ 1,331
Deferred tax asset	49,518
Deferred tax liability	$ 41,997
Class A Common Stock
Tax Credit Carryforward [Line Items]
Number of shares exchanged | shares	2,060,443
Class A Common Stock | TRA Holders
Tax Credit Carryforward [Line Items]
Number of shares exchanged | shares	2,060,443

Income Taxes - Schedule of Futu

Income Taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Remainder of 2020	$ 26,468
2021	27,260
2022	30,462
2023	30,999
2024	31,636
Thereafter	321,886
Total	$ 468,711	$ 427,216

Commitments and contingencies -

Commitments and contingencies - Additional Information (Details) - Pending Litigation - Civil Action Brought By Former Employee - USD ($) $ in Thousands	May 03, 2019	Mar. 31, 2020
Loss Contingencies [Line Items]
Damages sought	$ 6,300
Estimate of possible loss		$ 1,260
Loss contingency, receivable		1,260
Receivables due from related parties		$ 420

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Number of operating segments | segment	0
Revenue	$ 127,231,000	$ 148,817,000
Assets	1,875,636,000		$ 1,717,190,000
Franchise revenue
Segment Reporting Information [Line Items]
Revenue	58,529,000	65,762,000
Franchise revenue | Placement Services
Segment Reporting Information [Line Items]
Revenue	2,013,000	2,765,000
Corporate-owned stores
Segment Reporting Information [Line Items]
Revenue	40,516,000	$ 38,044,000
Corporate-owned stores | Canada
Segment Reporting Information [Line Items]
Long-lived assets	892,000		$ 1,039,000
Intersegment Eliminations
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
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 127,231	$ 148,817
Total Segment EBITDA	46,372	59,774
Corporate and other
Segment Reporting Information [Line Items]
Total Segment EBITDA	(8,748)	(13,562)
Franchise revenue
Segment Reporting Information [Line Items]
Revenue	58,529	65,762
Franchise revenue | Operating Segments
Segment Reporting Information [Line Items]
Total Segment EBITDA	36,746	47,360
Franchise revenue | US
Segment Reporting Information [Line Items]
Revenue	57,342	64,396
Franchise revenue | International
Segment Reporting Information [Line Items]
Revenue	1,187	1,366
Corporate-owned stores
Segment Reporting Information [Line Items]
Revenue	40,516	38,044
Corporate-owned stores | Operating Segments
Segment Reporting Information [Line Items]
Total Segment EBITDA	12,007	15,569
Corporate-owned stores | US
Segment Reporting Information [Line Items]
Revenue	39,566	36,949
Corporate-owned stores | International
Segment Reporting Information [Line Items]
Revenue	950	1,095
Equipment revenue
Segment Reporting Information [Line Items]
Revenue	28,186	45,011
Equipment revenue | Operating Segments
Segment Reporting Information [Line Items]
Total Segment EBITDA	6,367	10,407
Equipment revenue | US
Segment Reporting Information [Line Items]
Revenue	$ 28,186	$ 45,011

Segments - Reconciliation of To

Segments - Reconciliation of Total Segment EBITDA to Income Before Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting [Abstract]
Total Segment EBITDA	$ 46,372	$ 59,774
Depreciation and amortization	12,792	9,907
Other expense	(687)	(3,318)
Income from operations	34,267	53,185
Interest income	1,927	1,798
Interest expense	(20,240)	(14,749)
Income before income taxes	$ 15,267	$ 36,916

Segments - Summary of Company's

Segments - Summary of Company's Assets by Reportable Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 1,875,636	$ 1,717,190
Operating Segments | Franchise revenue
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	203,930	193,504
Operating Segments | Corporate-owned stores
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	477,501	471,234
Operating Segments | Equipment revenue
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	187,700	197,656
Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 1,006,505	$ 854,796

Segments - Summary of Company_2

Segments - Summary of Company's Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	$ 227,821	$ 227,821
Franchise revenue
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	16,938	16,938
Corporate-owned stores
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	118,217	118,217
Equipment revenue
Segment Reporting, Other Significant Reconciling Item [Line Items]
Consolidated goodwill	$ 92,666	$ 92,666

Corporate-Owned and Franchise_3

Corporate-Owned and Franchisee-Owned Stores - Schedule of Changes in Corporate-owned and Franchisee-owned Stores (Detail) - store	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Number Of Stores [Roll Forward]
Stores operated at beginning of period	2,001	1,742
New stores opened	39	65
Stores acquired, debranded, sold or consolidated	(1)	(1)
Stores operated at end of period	2,039	1,806
Franchisee-Owned Stores
Number Of Stores [Roll Forward]
Stores operated at beginning of period	1,903	1,666
New stores opened	38	65
Stores acquired, debranded, sold or consolidated	(1)	(1)
Stores operated at end of period	1,940	1,730
Corporate-Owned Stores
Number Of Stores [Roll Forward]
Stores operated at beginning of period	98	76
New stores opened	1	0
Stores acquired from franchisees	0	0
Stores operated at end of period	99	76

Subsequent events (Details)

Subsequent events (Details) $ in Thousands	May 08, 2020USD ($)
Subsequent Event
Subsequent Event [Line Items]
Short-term loan to third party payment processor	$ 8,950