Planet Fitness (PLNT) 10-K 1 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 4.8
Documents Incorporated by Reference	Portions of the Definitive Proxy Statement for the registrant’s 2021 Annual Meeting of Stockholders to be held May 3, 2021, are incorporated by reference into Part III, Items 10-14 of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001637207
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		83,079,078
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,473,075

Consolidated balance sheets

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 439,478	$ 436,256
Restricted cash	76,322	42,539
Accounts receivable, net of allowance for bad debts of $7 and $111 at December 31, 2020 and 2019, respectively	16,447	42,268
Inventory	473	877
Prepaid expenses	11,881	8,025
Other receivables	16,754	9,226
Income tax receivable	5,461	947
Total current assets	566,816	540,138
Property and equipment, net	160,677	145,481
Right-of-use assets, net	164,252	155,633
Intangible assets, net	217,075	233,921
Goodwill	227,821	227,821
Deferred income taxes	511,200	412,293
Other assets, net	1,896	1,903
Total assets	1,849,737	1,717,190
Current liabilities:
Current maturities of long-term debt	17,500	17,500
Accounts payable	19,388	21,267
Accrued expenses	22,042	31,623
Equipment deposits	795	3,008
Deferred revenue, current	26,691	27,596
Payable pursuant to tax benefit arrangements, current	0	26,468
Other current liabilities	25,479	18,016
Total current liabilities	111,895	145,478
Long-term debt, net of current maturities	1,676,426	1,687,505
Borrowings under Variable Funding Notes	75,000	0
Lease liabilities, net of current portion	167,910	152,920
Deferred revenue, net of current portion	32,587	34,458
Deferred tax liabilities	881	1,116
Payable pursuant to tax benefit arrangements, net of current portion	488,200	400,748
Other liabilities	2,511	2,719
Total noncurrent liabilities	2,443,515	2,279,466
Commitments and contingencies (note 17)
Stockholders’ equity (deficit):
Accumulated other comprehensive income	27	303
Additional paid in capital	45,673	29,820
Accumulated deficit	(751,578)	(736,587)
Total stockholders’ deficit attributable to Planet Fitness, Inc.	(705,869)	(706,455)
Non-controlling interests	196	(1,299)
Total stockholders’ deficit	(705,673)	(707,754)
Total liabilities and stockholders’ deficit	1,849,737	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

Consolidated balance sheets (Pa

Consolidated balance sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Accounts receivable, allowance for bad debts	$ 7	$ 111
Class A Common Stock
Stockholders’ equity (deficit):
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	82,821	78,525
Common stock, shares outstanding (in shares)	82,821	78,525
Class B Common Stock
Stockholders’ equity (deficit):
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000	100,000
Common stock, shares issued (in shares)	3,722	8,562
Common stock, shares outstanding (in shares)	3,722	8,562

Consolidated statements of oper

Consolidated statements of operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Revenue	$ 406,618	$ 688,803	$ 572,898
Operating costs and expenses:
Cost of revenue	70,955	194,449	162,646
Store operations	87,797	86,108	75,005
Selling, general and administrative	68,585	78,818	72,446
National advertising fund expense	61,255	50,153	42,619
Depreciation and amortization	53,832	44,346	35,260
Other loss	4,434	1,846	878
Total operating costs and expenses	346,858	455,720	388,854
Income from operations	59,760	233,083	184,044
Other income (expense), net:
Interest income	2,937	7,053	4,681
Interest expense	(82,117)	(60,852)	(50,746)
Other income (expense), net	4,903	(6,107)	(6,175)
Total other expense, net	(74,277)	(59,906)	(52,240)
Income (loss) before income taxes	(14,517)	173,177	131,804
Provision for income taxes	687	37,764	28,642
Net income (loss)	(15,204)	135,413	103,162
Less net income (loss) attributable to non-controlling interests	(213)	17,718	15,141
Net income (loss) attributable to Planet Fitness, Inc.	$ (14,991)	$ 117,695	$ 88,021
Class A Common Stock
Net income (loss) per share of Class A common stock:
Basic (usd per share)	$ (0.19)	$ 1.42	$ 1.01
Diluted (usd per share)	$ (0.19)	$ 1.41	$ 1
Weighted-average shares of Class A common stock outstanding:
Basic (shares)	80,303,277	82,976,620	87,235,021
Diluted (shares)	80,303,277	83,619,180	87,674,903
Franchise
Revenue:
Revenue	$ 206,156	$ 277,582	$ 224,140
Franchise | Franchise
Revenue:
Revenue	162,159	223,139	175,314
Franchise | Commission income
Revenue:
Revenue	696	4,288	6,632
Franchise | National advertising fund revenue
Revenue:
Revenue	43,301	50,155	42,194
Corporate-owned stores
Revenue:
Revenue	117,142	159,697	138,599
Equipment
Revenue:
Revenue	$ 83,320	$ 251,524	$ 210,159

Consolidated statements of comp

Consolidated statements of comprehensive income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss) including non-controlling interests	$ (15,204)	$ 135,413	$ 103,162
Net income (loss) including non-controlling interests
Unrealized gain on interest rate caps, net of tax	0	0
Unrealized gain on interest rate caps, net of tax			989
Foreign currency translation adjustments	(276)	209	(200)
Total other comprehensive income (loss), net	(276)	209	789
Total comprehensive income (loss) including non-controlling interests	(15,480)	135,622	103,951
Less: total comprehensive income (loss) attributable to non-controlling interests	(213)	17,718	15,189
Total comprehensive income (loss) attributable to Planet Fitness, Inc.	$ (15,267)	$ 117,904	$ 88,762

Consolidated statements of cash

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ (15,204)	$ 135,413	$ 103,162
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	53,832	44,346	35,260
Amortization of deferred financing costs	6,411	5,454	3,400
Amortization of favorable leases and asset retirement obligations	57	237	375
Amortization and settlement of interest rate caps	0	0	1,170
Deferred tax expense	7,213	21,625	23,933
(Gain) loss on re-measurement of tax benefit arrangement	(5,949)	5,966	4,765
Provision for bad debts	(74)	87	19
(Gain) loss on disposal of property and equipment	(107)	(159)	462
Loss on extinguishment of debt	0	0	4,570
Other	(494)	(472)	578
Loss on reacquired franchise rights	0	1,810	360
Equity-based compensation	4,777	4,826	5,479
Changes in operating assets and liabilities:
Accounts receivable	23,611	(895)	(1,923)
Due from related parties	0	0	3,020
Inventory	404	4,244	(2,430)
Other assets and other current assets	(2,676)	(3,198)	5,778
Accounts payable and accrued expenses	(10,938)	(6,268)	14,506
Other liabilities and other current liabilities	4,384	1,687	(2,835)
Income taxes	(4,461)	6,231	194
Payments pursuant to tax benefit arrangements	(26,621)	(24,998)	(30,493)
Equipment deposits	(2,212)	(4,900)	1,410
Deferred revenue	(2,842)	11,452	9,640
Deferred rent	2,027	1,823	3,999
Net cash provided by operating activities	31,138	204,311	184,399
Cash flows from investing activities:
Additions to property and equipment	(52,560)	(57,890)	(40,860)
Acquisitions of franchises	0	(52,613)	(45,752)
Proceeds from sale of property and equipment	282	109	196
Purchase of intellectual property	0	(300)	0
Net cash used in investing activities	(52,278)	(110,694)	(86,416)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	75,000	550,000	1,200,000
Proceeds from issuance of Class A common stock	2,571	2,863	1,209
Principal payments on capital lease obligations	(165)	(93)
Principal payments on capital lease obligations			(47)
Repayment of long-term debt	(17,500)	(12,000)	(712,469)
Payment of deferred financing and other debt-related costs	0	(10,577)	(27,133)
Repurchase and retirement of Class A common stock	0	(458,166)	(342,383)
Dividend equivalent paid to members of Pla-Fit Holdings	(234)	(243)	(957)
Distributions to members of Pla-Fit Holdings	(1,822)	(7,436)	(8,300)
Net cash provided by financing activities	57,850	64,348	109,920
Effects of exchange rate changes on cash and cash equivalents	295	691	(844)
Net increase in cash, cash equivalents and restricted cash	37,005	158,656	207,059
Cash, cash equivalents and restricted cash, beginning of period	478,795	320,139	113,080
Cash, cash equivalents and restricted cash, end of period	515,800	478,795	320,139
Supplemental cash flow information:
Net cash paid (refund received) for income taxes	(2,157)	10,001	5,016
Cash paid for interest	75,629	53,713	38,624
Non-cash investing activities:
Non-cash additions to property and equipment	$ 1,172	$ 2,827	$ 5,451

Consolidated statement of chang

Consolidated statement of changes in equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Accumulated other comprehensive income (loss)	Additional paid-in capital	Accumulated deficit	Accumulated deficitCumulative Effect, Period of Adoption, Adjustment	Non-controlling interests	Class A Common Stock	Class A Common StockCommon Stock	Class B Common Stock	Class B Common StockCommon Stock
Beginning balance (shares) at Dec. 31, 2017									87,188,000		11,193,000
Beginning balance at Dec. 31, 2017	$ (136,937)	$ (9,192)	$ (648)	$ 12,118	$ (130,966)	$ (9,192)	$ (17,451)		$ 9		$ 1
Net income (loss)	103,162				88,021		15,141
Equity-based compensation expense	5,479			5,482	(3)
Repurchase and retirement of common stock (shares)								(824,312)	(5,431,000)		(9,000)
Repurchase and retirement of common stock	(342,383)			719	(342,383)		(719)
Exchanges of Class B common stock (shares)									1,736,000		(1,736,000)
Exchanges of Class B common stock	0		1	(3,067)			3,066
Tax benefit arrangement liability and deferred taxes arising from secondary offerings and other exchanges	3,271			3,271
Exercise of stock options and vesting of restricted share units (shares)									91,000
Exercise of stock options and vesting of restricted share units	1,209			1,209
Forfeiture of dividend equivalents	113				113
Distributions paid to members of Pla-Fit Holdings	(8,300)						(8,300)
Other comprehensive income (loss)	789		741				48
Ending balance (shares) at Dec. 31, 2018									83,584,000		9,448,000
Ending balance at Dec. 31, 2018	(382,789)	$ (1,713)	94	19,732	(394,410)	$ (1,713)	(8,215)		$ 9		$ 1
Net income (loss)	135,413				117,695		17,718
Equity-based compensation expense	4,826			4,826
Repurchase and retirement of common stock (shares)								(2,272,001)	(6,086,000)
Repurchase and retirement of common stock	(458,166)			488	(458,165)		(488)		$ (1)
Exchanges of Class B common stock (shares)									886,000		(886,000)
Exchanges of Class B common stock	0			(1,172)			1,172
Tax benefit arrangement liability and deferred taxes arising from secondary offerings and other exchanges	3,156			3,156
Exercise of stock options and vesting of restricted share units (shares)									141,000
Exercise of stock options and vesting of restricted share units	2,790			2,790
Forfeiture of dividend equivalents	6				6
Distributions paid to members of Pla-Fit Holdings	(7,436)						(7,436)
Non-cash adjustments to VIEs	(4,050)						(4,050)
Other comprehensive income (loss)	209		209
Ending balance (shares) at Dec. 31, 2019								78,525,000	78,525,000	8,562,000	8,562,000
Ending balance at Dec. 31, 2019	(707,754)		303	29,820	(736,587)		(1,299)		$ 8		$ 1
Net income (loss)	(15,204)				(14,991)		(213)
Equity-based compensation expense	4,777			4,777
Repurchase and retirement of common stock (shares)									(667,000)
Repurchase and retirement of common stock	0			(2,879)			2,879
Exchanges of Class B common stock (shares)									4,840,000		(4,840,000)
Exchanges of Class B common stock	0			(1,526)			1,526
Tax benefit arrangement liability and deferred taxes arising from secondary offerings and other exchanges	$ 12,779			12,779
Exercise of stock options and vesting of restricted share units (shares)	76,402								123,000
Exercise of stock options and vesting of restricted share units	$ 2,702			2,702
Distributions paid to members of Pla-Fit Holdings	(1,822)						(1,822)
Non-cash adjustments to VIEs	(875)						(875)
Other comprehensive income (loss)	(276)		(276)
Ending balance (shares) at Dec. 31, 2020								82,821,000	82,821,000	3,722,000	3,722,000
Ending balance at Dec. 31, 2020	$ (705,673)		$ 27	$ 45,673	$ (751,578)		$ 196		$ 8		$ 1

Business organization

Business organization	12 Months Ended
	Dec. 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 approximately 13.5 million members and 2,124 owned and franchised locations (referred to as stores) in all 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia as of December 31, 2020. 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; and • Selling fitness-related equipment to franchisee-owned stores. In 2012 investment funds affiliated with TSG Consumer Partners, LLC (“TSG”), purchased interests in Pla-Fit Holdings. The Company was formed as a Delaware corporation on March 16, 2015 for the purpose of facilitating an initial public offering (the “IPO”) 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, the Company became the sole managing member and holder of 100% of the voting power of Pla-Fit Holdings. Pla-Fit Holdings owns 100% of Planet Intermediate, LLC which has no operations but is the 100% owner of Planet Fitness Holdings, LLC, a franchisor and operator of fitness centers. With respect to the Company, Pla-Fit Holdings and Planet Intermediate, LLC, each entity owns nothing other than the respective entity below it in the corporate structure and each entity has no other material operations. 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 Holdings Units not owned by the Company. During the years ended December 31, 2020, 2019 and 2018, certain Continuing LLC Owners have exercised their exchange rights and exchanged 4,839,866, 885,810 and 1,736,020 Holdings Units, respectively, for 4,839,866, 885,810 and 1,736,020 newly-issued shares of Class A common stock, respectively. Simultaneously, and in connection with these exchanges, 4,839,866, 885,810 and 1,736,020 shares of Class B common stock were surrendered by the Continuing LLC Owners that exercised their exchange rights and canceled during the years ended December 31, 2020, 2019 and 2018, respectively. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 4,839,866, 885,810 and 1,736,020 Holdings Units during the years ended December 31, 2020, 2019 and 2018, respectively, increasing its total ownership interest in Pla-Fit Holdings. As of December 31, 2020, the Company held 100% of the voting interest, and approximately 95.7% of the economic interest in Pla-Fit Holdings and the Continuing LLC Owners held the remaining 4.3% economic interest in Pla-Fit Holdings. As future exchanges of Holdings Units occur, the economic interest in Pla-Fit Holdings held by Planet Fitness, Inc. will increase.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies (a) Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant intercompany balances and transactions have been eliminated in consolidation. 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% annually of gross monthly membership fees from franchisees, in accordance with the provisions of the franchise agreements, and uses the amounts received to increase sales and further enhance the public reputation of the Planet Fitness brand. See Note 4 for further information related to the NAF. (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 equity-based compensation awards, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities and reserves for unrecognized tax benefits, and the liability for the Company’s tax benefit arrangements. (c) Concentrations Cash and cash equivalents are financial instruments, which potentially subject the Company to a concentration of credit risk. The Company invests its excess cash in several major financial institutions, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. The Company maintains balances in excess of these limits, but does not believe that such deposits with its banks are subject to any unusual risk. The credit risk associated with trade receivables is mitigated due to the large number of customers, generally our franchisees, and their broad dispersion over many different geographic areas. We do not have any concentrations with respect to our revenues. The Company purchases equipment, both for corporate-owned stores and for sales to franchisee-owned stores from various equipment vendors. For the year ended December 31, 2020, purchases from two equipment vendors comprised 48% and 40%, respectively, of total equipment purchases. For the year ended December 31, 2019 purchases from three equipment vendors comprised 48%, 35% and 12%, respectively, of total equipment purchases. For the year ended December 31, 2018 purchases from two equipment vendor comprised 76% and 13%, respectively, of total equipment purchases. The Company, including the NAF, uses various vendors for advertising services. For the year ended December 31, 2020, purchases from one vendor comprised 71% of total advertising purchases. For the year ended December 31, 2019 purchases from two vendor comprised 38% and 15%, respectively, of total advertising purchases, and for the year ended December 31, 2018 purchases from one vendor comprised 65% of total advertising purchases (see Note 4 for further discussion of the NAF). (d) Cash, cash equivalents and restricted cash The Company considers all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. Cash held within the NAF is recorded as a restricted asset (see Note 4). In accordance with the Company’s securitized financing facility, certain cash accounts have been established in the name of Citibank, N.A. (the “Trustee”). The Company holds restricted cash which primarily represents cash collections held by the Trustee, which includes interest, principal, and commitment fee reserves. As of December 31, 2020, the Company had restricted cash held by the Trustee of $60,314. 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. (e) Revenue from contracts with customers The Company’s revenues are comprised of franchise revenue, equipment revenue, and corporate-owned stores revenue. Franchise revenue Franchise revenues consist primarily of royalties, NAF contributions, initial and successor franchise fees and upfront fees from area development agreements (“ADAs”), transfer fees, equipment placement revenue, other fees and commission income. The Company’s primary performance obligation under the franchise license is granting certain rights to use the Company’s intellectual property, and all other services the Company provides under the ADA and franchise agreement are highly interrelated, not distinct within the contract, and therefore accounted for under ASC 606 as a single performance obligation, which is satisfied by granting certain rights to use our intellectual property over the term of each franchise agreement. Royalties, including franchisee contributions to national advertising funds, are calculated as a percentage of franchise monthly dues and annual fees over the term of the franchise agreement. Under our franchise agreements, advertising contributions paid by franchisees must be spent on advertising, marketing and related activities. Initial and successor franchise fees are payable by the franchisee upon signing a new franchise agreement or successor franchise agreement, and transfer fees are paid to the Company when one franchisee transfers a franchise agreement to a different franchisee. Our franchise royalties, as well as our NAF contributions, represent sales-based royalties that are related entirely to our performance obligation under the franchise agreement and are recognized as franchise sales occur. Initial and successor franchise fees, as well as transfer fees, are recognized as revenue on a straight-line basis over the term of the respective franchise agreement. Our ADAs generally consist of an obligation to grant geographic exclusive area development rights. These development rights are not distinct from franchise agreements, so upfront fees paid by franchisees for exclusive development rights are deferred and apportioned to each franchise agreement signed by the franchisee. The pro-rata amount apportioned to each franchise agreement is accounted for identically to the initial franchise fee. The Company is generally responsible for assembly and placement of equipment it sells to U.S. based franchisee-owned stores. Placement revenue is recognized upon completion and acceptance of the services at the franchise location. The Company recognizes commission income from certain of its franchisees’ use of certain preferred vendor arrangements. Commissions are recognized when amounts have been earned and collectability from the vendor is reasonably assured. Online member join fees are paid to the Company by franchisees for processing new membership transactions when a new member signs up for a membership to a franchisee-owned store through the Company’s website. These fees are recognized as revenue as each transaction occurs. Billing transaction fees are paid to the Company by certain of its franchisees for the processing of franchisee membership dues and annual fees through the Company’s third-party hosted point-of-sale system and are recognized as revenue as they are earned. Equipment revenue The Company sells and delivers equipment purchased from third-party equipment manufacturers to U.S. based franchisee-owned stores. Revenue is recognized upon transfer of control of ordered items, generally upon delivery to the customer, which is when the customer obtains physical possession of the goods, legal title is transferred, the customer has all risks and rewards of ownership and an obligation to pay for the goods is created. Franchisees are charged for all freight costs incurred for the delivery of equipment. Freight revenue is recorded within equipment revenue and freight costs are recorded within cost of revenue. In most instances, the Company recognizes equipment revenue on a gross basis as management has determined the Company to be the principal in these transactions. Management determined the Company to be the principal in the transaction because the Company controls the equipment prior to delivery to the final customer as evidenced by its pricing discretion over the goods, inventory transfer of title and risk of loss while the inventory is in transit, and having the primary responsibility to fulfill the customer order and direct the third-party vendor. Corporate-owned stores revenue The following revenues are generated from stores owned and operated by the Company. Membership dues revenue Customers are offered multiple membership choices varying in length. Membership dues are earned and recognized over the membership term on a straight-line basis. Enrollment fee revenue Enrollment fees are charged to new members at the commencement of their membership. The Company recognizes enrollment fees ratably over the estimated duration of the membership life, which is generally two years. Annual membership fee revenue Annual membership fees are annual fees charged to members in addition to and in order to maintain low monthly membership dues. The Company recognizes annual membership fees ratably over the 12-month membership period. Retail sales The Company sells Planet Fitness branded apparel, food, beverages, and other accessories. The revenue for these items is recognized at the point of sale. Sales tax All revenue amounts are recorded net of applicable sales tax. (f) Deferred revenue Franchise deferred revenue results from initial and successor franchise fees and 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. Deferred revenue is also recognized in our Corporate-owned stores segment for cash received from members for enrollment fees, membership dues and annual fees for the portion not yet earned based on the membership period. (g) Cost of revenue Cost of revenue consists primarily of direct costs associated with equipment sales (including freight costs) and the cost of retail merchandise sold in corporate-owned stores. Costs related to retail merchandise sales were immaterial in all periods presented. Rebates from equipment vendors where the Company has recognized the related equipment revenue and costs are recorded as a reduction to the cost of revenue. (h) Store operations Store operations consists of the direct costs related to operating corporate-owned stores, including our store management and staff, rent expense, utilities, supplies, maintenance, and local advertising. (i) Selling, general and administrative Selling, general and administrative expenses consist of costs associated with administrative and franchisee support functions related to our existing business as well as growth and development activities. These costs primarily consist of payroll, IT related, marketing, legal and accounting expenses. These expenses include costs related to placement services of $3,341, $7,063, and $5,397, for the years ended December 31, 2020, 2019 and 2018, respectively. (j) Accounts receivable Accounts receivable is primarily comprised of amounts owed to the Company resulting from equipment, placement, and commission revenue. The Company evaluates its accounts receivable on an ongoing basis and may establish an allowance for doubtful accounts based on collections and current credit conditions. Accounts are written off as uncollectible when it is determined that further collection efforts will be unsuccessful. Historically, the Company has not had a significant amount of write-offs. (k) Leases and asset retirement obligations Topic 842 - Leases We transitioned to FASB Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”), from ASC Topic 840, Leases (the “Previous Standard”) on January 1, 2019 using the effective date as our date of initial application. Our Financial Statements reflect the application of ASC 842 guidance beginning in 2019, while our consolidated financial statements for prior periods were prepared under the guidance of Previous Standards. Upon transition to the new guidance on January 1, 2019, the Company recognized approximately $130,000 of operating lease liabilities. Additionally, the Company recorded ROU assets in a corresponding amount, net of amounts reclassified from other assets and liabilities, including deferred rent, tenant improvement allowances, and favorable lease assets, as specified by the new lease guidance. In connection with the election of the hindsight practical expedient related to reassessing lease terms for existing leases as of January 1, 2019, the Company recorded a cumulative transition adjustment of $1,713, net of tax, which is reflected as an adjustment to January 1, 2019 stockholders’ deficit. Our transition to ASC 842 represents a change in accounting principle. The standard is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Significant Lease Accounting Policies under ASC 842 The Company leases space to operate corporate-owned stores, equipment, office, and warehouse space. We currently lease our corporate headquarters and all but one of our corporate-owned stores. 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 three At the inception of each lease, we determine its appropriate classification as an operating or financing lease. The majority of our leases are operating leases. 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 right of use (“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 Notes. The Company has an immaterial amount of 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. 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. Lease Accounting Policies under Previous Standards, prior to January 1, 2019 if different than under ASC 842 The Company recognizes rent expense related to leased office and operating space on a straight-line basis over the term of the lease. The difference between rent expense and rent paid, if any, as a result of escalation provisions and lease incentives, such as tenant improvements provided by lessors, and is recorded as deferred rent in the Company’s consolidated balance sheets. Asset retirement obligations In accordance with ASC Topic 410, Asset Retirement and Environmental Obligations , the Company establishes assets and liabilities for the present value of estimated future costs to return certain leased facilities to their original condition. Such assets are depreciated on a straight-line basis over the lease period into operating expense, and the recorded liabilities are accreted to the future value of the estimated restoration costs. (l) Property and equipment Property and equipment is recorded at cost and depreciated using the straight-line method over its related estimated useful life. Leasehold improvements are amortized over the shorter of the expected lease term or the estimated useful life of the related asset, whichever is shorter. Upon sale or retirement, the asset cost and related accumulated depreciation are removed from the respective accounts, and any related gain or loss is reflected in the consolidated statements of operations. Ordinary maintenance and repair costs are expensed as incurred. The estimated useful lives of the Company’s fixed assets by class of asset are as follows: Years Buildings and building improvements 20–40 Information technology and systems 3-5 Furniture and fixtures 5 Leasehold improvements Useful life or term of lease Fitness equipment 5–7 Vehicles 5 (m) Advertising expenses The Company expenses advertising costs as incurred. Advertising expenses, net of amounts reimbursed by franchisees, are included within store operations and selling, general and administrative expenses and totaled $15,132, $13,749, and $12,101 for the years ended December 31, 2020, 2019 and 2018, respectively. See Note 4 for discussion of the national advertising fund. (n) Goodwill, long-lived assets, and other intangible assets Goodwill and other intangible assets that arise from acquisitions are recorded in accordance with ASC Topic 350, Intangibles—Goodwill and Other . In accordance with this guidance, specifically identified intangible assets must be recorded as a separate asset from goodwill if either of the following two criteria is met: (1) the intangible asset acquired arises from contractual or other legal rights; or (2) the intangible asset is separable. Intangibles are typically trade and brand names, customer relationships, and reacquired franchise rights. Transactions are evaluated to determine whether any gain or loss on reacquired franchise rights, based on their fair value, should be recognized separately from identified intangibles. Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. Goodwill and indefinite-lived intangible assets are not amortized, but are reviewed annually for impairment or more frequently if impairment indicators arise. Separable intangible assets that are not deemed to have an indefinite life are amortized over their estimated useful lives on either a straight-line or accelerated basis as deemed appropriate, and are reviewed for impairment when events or circumstances suggest that the assets may not be recoverable. The Company performs its annual test for impairment of goodwill and indefinite lived intangible assets on December 31 of each year. The annual goodwill test begins with a qualitative assessment, where qualitative factors and their impact on critical inputs are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the Company determines that a reporting unit has an indication of impairment based on the qualitative assessment, it is required to perform a quantitative assessment . Any impairment loss would be recognized in an amount equal to the excess of the carrying value of the goodwill over the implied fair value of the goodwill. During the periods presented, the Company did not need to proceed beyond the qualitative analysis, and no goodwill impairments were recorded. For indefinite lived intangible assets, the impairment assessment consists of comparing the carrying value of the asset to its estimated fair value. To the extent that the carrying value exceeds the fair value of the asset, an impairment is recorded to reduce the carrying value to its fair value. The Company is also permitted to make a qualitative assessment of whether it is more likely than not an indefinite lived intangible asset’s fair value is less than its carrying value prior to applying the quantitative assessment. If based on the Company’s qualitative assessment it is not more likely than not that the carrying value of the asset is less than its fair value, then a quantitative assessment is not required. During the periods presented, the Company did not need to proceed beyond the qualitative analysis, and determined that no impairment charges were required. The Company applies the provisions of ASC Topic 360, Property, Plant and Equipment , which requires that long-lived assets, including amortizable intangible assets, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for impairment, then assets are required to be grouped and evaluated at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset or asset group to the undiscounted future net cash flows expected to be generated by the asset or asset group. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. There were no assets that were impaired during any of the periods presented. (o) Income taxes The Company accounts for income taxes using the asset and liability method. Deferred income taxes are recognized for the expected future tax consequences attributable to temporary differences between the carrying amount of the existing tax assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied in the years in which temporary differences are expected to be recovered or settled. The principal items giving rise to temporary differences are the use of accelerated depreciation and certain basis differences resulting from acquisitions and the recapitalization transactions. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Planet Fitness, Inc. is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. 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 Planet Fitness, Inc. following the recapitalization transactions, on a pro rata basis. Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to our allocable share of any taxable income of Pla-Fit Holdings. The Company is also subject to taxes in foreign jurisdictions. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs (see Note 16). (p) 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, LLC who are unaffiliated with TSG (the “TRA Holders”) 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay to the Direct TSG Investors 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of the Holdings Units held in respect of the Direct TSG Investors’ interest in the Company, which resulted from the Direct TSG Investors’ purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the benefit of the remaining 15% of the applicable tax savings. Based on current projections, the Company anticipates having sufficient taxable income to utilize these tax attributes and receive corresponding tax deductions in future periods. Accordingly, as of December 31, 2020 the Company has recorded a liability of $488,200 payable to the TRA Holders under the tax benefit obligations, representing approximately 85% of the calculated tax savings based on the original basis adjustments the Company anticipates being able to utilize in future years. Changes in the projected liability resulting from these tax benefit arrangements may occur based on changes in anticipated future taxable income, changes in applicable tax rates or other changes in tax attributes that may occur and impact the expected future tax benefits to be received by the Company. Changes in the projected liability under these tax benefit arrangements will be recorded as a component of other income (expense) each period. The projection of future taxable income involves significant judgment. Actual taxable income may differ from estimates, which could significantly impact the liability under the tax benefit arrangements and the Company’s consolidated results of operations. (q) 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 December 31, 2020 and December 31, 2019 were as follows: December 31, 2020 December 31, 2019 Carrying value Estimated fair value (1) Carrying value Estimated fair value (1) Long-term debt $ 1,717,500 $ 1,699,749 $ 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 year ended December 31, 2020 and may continue to fluctuate based on market conditions and other factors, including changes in the target federal funds rate. (r) Financial instruments The carrying values of cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value because of the short-term nature of these instruments. (s) Derivative instruments and hedging activities The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in the fair value are either offset through earnings against the change in fair value of the hedged item attributable to the risk being hedged or recognized in accumulated other comprehensive income, to the extent the derivative is effective at offsetting the changes in cash flows being hedged until the hedged item affects earnings. The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, the Company formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and recla

Variable interest entities

Variable interest entities	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable interest entities	Variable interest entities The carrying values of VIEs included in the consolidated financial statements as of December 31, 2020 and December 31, 2019 are as follows: December 31, 2020 December 31, 2019 Assets Liabilities Assets Liabilities PF Melville $ 2,523 $ — $ 2,682 $ — MMR $ 2,099 — $ 2,206 — Total $ 4,622 $ — $ 4,888 $ — The Company also has variable interests in certain franchisees mainly through the guarantee of lease agreements up to a maximum period of ten years with earlier expiration dates possible if certain conditions are met. The Company’s maximum obligation, as a result of its guarantees of leases, is approximately $7,842 and $10,309 as of December 31, 2020 and 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.

National advertising fund

National advertising fund	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
National advertising fund	National advertising fundOn July 26, 2011, the Company established the NAF for the creation and development of marketing, advertising, and related programs and materials for all Planet Fitness stores located in the United States and Puerto Rico. On behalf of the NAF, the Company collects approximately 2% annually of gross monthly membership billings from franchisees, in accordance with the provisions of the franchise agreements, which is reflected as NAF revenue on the consolidated statements of operations (see Note 2). The Company also contributes 2% annually of monthly membership billings from stores owned by the Company to the NAF, which is reflected in store operations expense in the consolidated statements of operations. The use of amounts received by the NAF is restricted to advertising, product development, public relations, merchandising, and administrative expenses and programs to increase sales and further enhance the public reputation of the Planet Fitness brand. The Company consolidates and reports all assets and liabilities held by the NAF within the consolidated financial statements. Amounts received or receivable by NAF are reported as restricted assets and restricted liabilities within current assets and current liabilities on the consolidated balance sheets. The Company records all revenues of the NAF within franchise revenue and all expenses of the NAF within the operating expenses on the consolidated statements of operations. The Company provides administrative services to the NAF and charges the NAF a fee for providing those services. These services include accounting, information technology, data processing, product development, legal and administrative support, and other operating expenses, which amounted to $793, $2,177 and $2,472 for the years ended December 31, 2020, 2019 and 2018, respectively. Fees paid to the Company by the NAF are reflected as expense in the NAF expense line, and reflected as a corresponding reduction in general and administrative expenses in the consolidated statements of operations.

Acquisition

Acquisition	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisition	Acquisition 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. Colorado Acquisition On August 10, 2018, the Company purchased from one of its franchisees certain assets associated with four franchisee-owned stores in Colorado for a cash payment of $17,249. As a result of the transaction, the Company incurred a loss on unfavorable reacquired franchise rights of $10, which has been reflected in other operating costs in the consolidated statements of operations. The loss incurred reduced the net purchase price to $17,239. 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 $ 3,873 Reacquired franchise rights 4,610 Customer relationships 140 Favorable leases, net 80 Other assets 143 Goodwill 8,476 Liabilities assumed, including deferred revenues (83) $ 17,239 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. Long Island Acquisition On January 1, 2018, the Company purchased from one of its franchisees certain assets associated with six franchisee-owned stores in New York for a cash payment of $28,503. As a result of the transaction, the Company incurred a loss on unfavorable reacquired franchise rights of $350, which has been reflected in other operating costs in the consolidated statements of operations. The loss incurred reduced the net purchase price to $28,153. 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 $ 4,672 Reacquired franchise rights 7,640 Customer relationships 1,150 Favorable leases, net 520 Reacquired area development rights 150 Other assets 275 Goodwill 14,056 Liabilities assumed, including deferred revenues (310) $ 28,153 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.

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and equipment	Property and equipment Property and equipment as of December 31, 2020 and 2019 consists of the following: December 31, 2020 December 31, 2019 Land $ 1,341 $ 1,341 Equipment 57,687 51,039 Leasehold improvements 115,619 97,977 Buildings and improvements 8,589 8,589 Furniture & fixtures 23,836 19,129 Information technology and systems assets 48,552 35,419 Other 2,615 2,192 Construction in progress 10,158 3,416 $ 268,397 $ 219,102 Accumulated depreciation (107,720) (73,621) Total $ 160,677 $ 145,481 The Company recorded depreciation expense of $36,943, $27,987, and $19,540 for the years ended December 31, 2020, 2019 and 2018, respectively.

Leases

Leases	12 Months Ended
	Dec. 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 three 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. ROU assets are assessed for impairment in accordance with our long-lived asset impairment policy, which is performed annually, or whenever events or changes in circumstances indicate that the carrying amount of a restaurant may not be recoverable. 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. For periods prior to January 1, 2019, the Company recognized rent expense related to leases on a straight-line basis over the term of the lease. The difference between rent expense and rent paid, if any, as a result of escalation provisions and lease incentives, such as tenant improvements provided by lessors, was recorded as deferred rent in the Company’s consolidated balance sheets. Leases Classification December 31, 2020 December 31, 2019 Assets Operating lease assets Right of use asset, net $ 164,252 $ 155,633 Finance lease assets Property and equipment, net of accumulated depreciation 306 309 Total lease assets $ 164,558 $ 155,942 Liabilities Current: Operating Other current liabilities $ 19,544 $ 16,755 Noncurrent: Operating Lease liabilities, net of current portion 167,910 152,920 Financing Other liabilities 327 333 Total lease liabilities $ 187,781 $ 170,008 Weighted-average remaining lease term (years) - operating leases 8.7 8.6 Weighted-average discount rate - operating leases 5.1 % 5.0 % For the years ended December 31, 2020 and 2019, the components of lease cost were as follows: December 31, 2020 December 31, 2019 Operating lease cost $ 26,255 $ 20,635 Variable lease cost 10,324 8,323 Total lease cost $ 36,579 $ 28,958 Rental expense was $24,900 for the year ended December 31, 2018. 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: December 31, 2020 December 31, 2019 Cash paid for lease liabilities $ 24,091 $ 19,502 Operating assets obtained in exchange for operating lease liabilities $ 33,140 $ 43,016 As of December 31, 2020, maturities of lease liabilities were as follows: Amount 2021 $ 28,405 2022 28,803 2023 28,367 2024 26,844 2025 26,087 Thereafter 95,872 Total lease payments $ 234,378 Less: imputed interest 46,597 Present value of lease liabilities $ 187,781 As of December 31, 2020, operating lease payments exclude approximately $20,027 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 three 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. ROU assets are assessed for impairment in accordance with our long-lived asset impairment policy, which is performed annually, or whenever events or changes in circumstances indicate that the carrying amount of a restaurant may not be recoverable. 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. For periods prior to January 1, 2019, the Company recognized rent expense related to leases on a straight-line basis over the term of the lease. The difference between rent expense and rent paid, if any, as a result of escalation provisions and lease incentives, such as tenant improvements provided by lessors, was recorded as deferred rent in the Company’s consolidated balance sheets. Leases Classification December 31, 2020 December 31, 2019 Assets Operating lease assets Right of use asset, net $ 164,252 $ 155,633 Finance lease assets Property and equipment, net of accumulated depreciation 306 309 Total lease assets $ 164,558 $ 155,942 Liabilities Current: Operating Other current liabilities $ 19,544 $ 16,755 Noncurrent: Operating Lease liabilities, net of current portion 167,910 152,920 Financing Other liabilities 327 333 Total lease liabilities $ 187,781 $ 170,008 Weighted-average remaining lease term (years) - operating leases 8.7 8.6 Weighted-average discount rate - operating leases 5.1 % 5.0 % For the years ended December 31, 2020 and 2019, the components of lease cost were as follows: December 31, 2020 December 31, 2019 Operating lease cost $ 26,255 $ 20,635 Variable lease cost 10,324 8,323 Total lease cost $ 36,579 $ 28,958 Rental expense was $24,900 for the year ended December 31, 2018. 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: December 31, 2020 December 31, 2019 Cash paid for lease liabilities $ 24,091 $ 19,502 Operating assets obtained in exchange for operating lease liabilities $ 33,140 $ 43,016 As of December 31, 2020, maturities of lease liabilities were as follows: Amount 2021 $ 28,405 2022 28,803 2023 28,367 2024 26,844 2025 26,087 Thereafter 95,872 Total lease payments $ 234,378 Less: imputed interest 46,597 Present value of lease liabilities $ 187,781 As of December 31, 2020, operating lease payments exclude approximately $20,027 of legally binding minimum lease payments for leases signed but not yet commenced.

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets A summary of goodwill and intangible assets at December 31, 2020 and 2019 is as follows: December 31, 2020 Weighted Gross Accumulated Net carrying Customer relationships 11.0 $ 174,033 (124,907) $ 49,126 Reacquired franchise rights 8.0 37,660 (16,311) 21,349 $ 211,693 $ (141,218) $ 70,475 Indefinite-lived intangible: Trade and brand names N/A 146,600 — 146,600 Total intangible assets $ 358,293 $ (141,218) $ 217,075 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 A rollforward of goodwill during the years ended December 31, 2020 or 2019 is as follows: Franchise Corporate-owned stores Equipment Total As of December 31, 2018 $ 16,938 $ 89,909 $ 92,666 $ 199,513 Acquisition of franchisee-owned stores — 28,308 — 28,308 As of December 31, 2019 $ 16,938 $ 118,217 $ 92,666 $ 227,821 Acquisition of franchisee-owned stores — — — — As of December 31, 2020 $ 16,938 $ 118,217 $ 92,666 $ 227,821 In connection with the adoption of ASC 842, as of January 1, 2019, the Company has derecognized the favorable leases intangible asset, and the favorable leases balance is now included in the ROU asset, net balance (Note 7). The Company determined that no impairment charges were required during any periods presented, and the increase to goodwill was due to the acquisition of sixteen franchisee-owned stores in 2019 (Note 5). Amortization expense related to the intangible assets totaled $16,888, $16,359, and $15,720 for the years ended December 31, 2020, 2019 and 2018, respectively. The anticipated annual amortization expense to be recognized in future years as of December 31, 2020 is as follows: Amount 2021 $ 16,636 2022 16,728 2023 16,558 2024 14,067 2025 3,066 Thereafter 3,420 Total $ 70,475

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term debt	Long-term debt Long-term debt as of December 31, 2020 and 2019 consists of the following: December 31, 2020 December 31, 2019 2018-1 Class A-2-I notes $ 562,063 $ 567,813 2018-1 Class A-2-II notes 610,938 617,187 2019-1 Class A-2 notes 544,500 550,000 Variable Funding notes 75,000 — Total debt, excluding deferred financing costs 1,792,501 1,735,000 Deferred financing costs, net of accumulated amortization (23,575) (29,995) Total debt 1,768,926 1,705,005 Current portion of long-term debt and Variable Funding Note 17,500 17,500 Long-term debt and borrowings under Variable Funding Notes, net of current portion $ 1,751,426 $ 1,687,505 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 2.28% as of December 31, 2020. 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. 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 $50,000 (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 incurrence test on the Company of 7.0x (calculated without regard for any indebtedness subject to the $50,000 cap) and (vi) covenants relating to recordkeeping, access to information and similar matters. Pursuant to a parent company support agreement, the Company has agreed to cause its 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 such subsidiary has not performed any such obligation or duty within the prescribed time frame after such obligation or duty was required to be performed, the Company has agreed to either (i) perform such obligation or duty or (ii) cause such obligations or duties to be performed on the Company’s 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 December 31, 2020, the Company had restricted cash held by the Trustee of $60,314, which includes pre-funding of the full principal and interest payments through the March 5, 2021 payment date, and a substantial portion of the June 5, 2021 payment date. 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. The proceeds from the issuance of the 2018 Notes were used to repay all amounts outstanding on the Term Loan B under the Company’s prior credit facility. As a result, the Company recorded a loss on early extinguishment of debt of $4,570 within interest expense on the consolidated statements of operations, primarily consisting of the write-off of deferred costs related to the prior credit facility. In connection with the repayment of the Term Loan B, the Company terminated the related interest rate caps with notional amounts totaling $219,837, which had been designated as a cash flow hedge. See Note 10 for more information on the interest rate caps. Future annual principal payments of long-term debt as of December 31, 2020 are as follows: Amount 2021 $ 17,500 2022 568,063 2023 86,750 2024 11,750 2025 591,438 Thereafter 517,000 Total $ 1,792,501

Derivative instruments and hedg

Derivative instruments and hedging activities	12 Months Ended
	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative instruments and hedging activities	Derivative instruments and hedging activitiesPrior to the August 1, 2018 refinancing transactions described in Note 9, the Company used interest-rate-related derivative instruments to manage its exposure related to changes in interest rates on its variable-rate debt instruments. The Company does not enter into derivative instruments for any purpose other than cash flow hedging. The Company does not speculate using derivative instruments.In order to manage the market risk arising from the previously outstanding term loans, the Company entered into a series of interest rate caps. As of December 31, 2020 and December 31, 2019, the Company had no interest rate cap agreements outstanding. In connection with the issuance of the 2018 Notes, the Company terminated the interest rate caps it had entered into in order to hedge interest expense on its previously outstanding term loans. During 2018, the Company recognized all unrealized gains and losses associated with its then-existing interest rate caps due to either termination or maturity.

Revenue from contract with cust

Revenue from contract with customers	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from contract with customers	Revenue from contracts with customers Contract Liabilities Contract liabilities consist of deferred revenue resulting from initial and successor franchise fees and 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. We classify these contract liabilities as deferred revenue in our condensed consolidated balance sheets. The following table reflects the change in contract liabilities between December 31, 2019 and December 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 (23,461) Increase, excluding amounts recognized as revenue during the period 20,685 Balance at December 31, 2020 $ 59,278 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 December 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 2021 $ 26,691 2022 3,707 2023 3,567 2024 3,324 2025 2,998 Thereafter 18,991 Total $ 59,278 The summary set forth below represents the balances in deferred revenue as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Prepaid membership fees $ 6,021 $ 7,231 Enrollment fees 399 915 Equipment discount 4,013 3,796 Annual membership fees 12,506 12,185 Area development and franchise fees 36,339 37,927 Total deferred revenue 59,278 62,054 Long-term portion of deferred revenue 32,587 34,458 Current portion of deferred revenue $ 26,691 $ 27,596 Equipment deposits received in advance of delivery as of December 31, 2020 and 2019 were $795 and $3,008, respectively and are expected to be recognized as revenue in the next twelve months.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Activity with franchisees considered to be related parties is summarized below. For the Year Ended December 31, 2020 2019 2018 Franchise revenue $ 1,415 $ 2,341 $ 3,179 Equipment revenue 515 3,333 3,977 Total revenue from related parties $ 1,930 $ 5,674 $ 7,156 Additionally, the Company had deferred ADA revenue from related parties of $182 and $256 as of December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019 , the Company had $71,416 and $53,491 , respectively, payable to related parties pursuant to tax benefit arrangements, see Note 16. The Company provides administrative services to the NAF and typically charges the NAF a fee for providing those services, but temporarily suspended charging these fees in June 2020 through December 31, 2020 as a result of COVID-19. The services provided include accounting, information technology, data processing, product development, legal and administrative support, and other operating expenses, which amounted $793, $2,177 and $2,472 for the years ended December 31, 2020, 2019 and 2018, respectively. A member of the Company’s board of directors, who is also a franchisee, holds an approximate 10.5% ownership of a company that sells amenity tracking compliance software to Planet Fitness stores to which the Company made payments of approximately $196 and $222, during the years ended December 31, 2020 and 2019, respectively . As of December 31, 2020 and 2019 , the software was being utilized at 101 and 71 corporate-owned stores, respectively, and approximately 599 and 520 franchise stores, respectively. For the years ended December 31, 2020, 2019 and 2018, the Company incurred approximately $90, $190 and $0, respectively, which is included within selling, general and administrative expense on the consolidated statements of operations, for corporate travel to a third-party company which is affiliated with our Chief Executive Officer. In May 2020, 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 2020 that were not collected as part of the typical monthly process as a result of the impact of COVID-19. The third party payment processor has begun its repayment of this loan and the Company expects repayment will occur over several months. As of December 31, 2020, approximately $4,200 of the loan balance is outstanding and is included within other receivables on the balance sheet.

Stockholder's equity

Stockholder's equity	12 Months Ended
	Dec. 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. Other Exchanges In addition to the secondary offerings mentioned above, during the years ended December 31, 2020, 2019 and 2018, respectively, certain Continuing LLC Owners have exercised their exchange right and exchanged 4,839,866, 885,810 and 1,736,020 Holdings Units for 4,839,866, 885,810 and 1,736,020 newly-issued shares of Class A common stock. Simultaneously, and in connection with these exchanges, 4,839,866, 885,810 and 1,736,020 shares of Class B common stock were surrendered by the Continuing LLC Owners that exercised their exchange right and canceled in the years ended December 31, 2020 and 2019, respectively. Additionally, in connection with these exchanges, Planet Fitness, Inc. received 4,839,866, 885,810 and 1,736,020 Holdings Units, during the years ended December 31, 2020, 2019 and 2018 respectively, increasing its total ownership in Pla-Fit Holdings. Future exchanges of Holdings Units by the Continuing LLC Owners will result in a change in ownership and reduce the amount recorded as non-controlling interest and increase additional paid-in capital on our consolidated balance sheets. As a result of the recapitalization transactions, the IPO, completion of our secondary offerings, and other exchanges and equity activity, as of December 31, 2020: • the public investors collectively owned 82,821,325 shares of our Class A common stock, representing 95.7% of the voting power in the Company and, through the Company, 95.7% of the economic interest in Pla-Fit Holdings; and • the Continuing LLC Owners collectively hold 3,722,054 Holdings Units, representing 4.3% of the economic interest in Pla-Fit Holdings and 3,722,054 shares of our Class B common stock, representing 4.3% of the voting power in the Company; Share repurchase programs 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 was 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. Additionally, during the years ended December 31, 2019 and 2018, the Company repurchased at market value and retired 2,272,001 and 824,312 shares of Class A common stock for a total cost of $157,945 and $42,090, respectively completing the 2018 share repurchase plan. 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 was 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. Dividends The Company did not declare or pay any dividends during the years ended December 31, 2020, 2019, or 2018. Preferred stock The Company had 50,000,000 preferred stock shares authorized and none issued or outstanding for the years ended December 31, 2020 or 2019.

Equity-based compensation

Equity-based compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Equity-based compensation	Equity-based compensation 2015 Omnibus Incentive Plan Stock Options In August 2015, the Company adopted the 2015 Omnibus Incentive Plan (the “2015 Plan”) under which the Company may grant options and other equity-based awards to purchase up to 7,896,800 shares to employees, directors and officers. Generally, stock options awarded vest annually, on a tranche by tranche basis, over a period of four years with a maximum contractual term of 10 years. The fair value of stock option awards granted were determined on the grant date using the Black-Scholes valuation model based on the following assumptions: Year ended December 31, 2020 2019 Expected term (years) (1) 0.25 - 6.25 6.25 Expected volatility (2) 28.5% - 139.8% 28.0% - 28.5% Risk-free interest rate (3) 0.14% - 1.67% 1.62% - 2.37% Dividend yield (4) — % — % (1) Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method. (2) Expected volatility is based on the historical volatility of a selected peer group over a period equivalent to the expected term. (3) The risk-free rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term. (4) Based on an assumed a dividend yield of zero at the time of grant. A summary of stock option activity for the year ended December 31, 2020: Stock Options Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at January 1, 2020 957,125 $ 26.86 Granted 106,064 $ 63.16 Exercised (76,402) $ 21.46 Forfeited (21,151) $ 37.19 Outstanding at December 31, 2020 965,636 $ 31.05 6.7 $ 44,982 Vested or expected to vest at December 31, 2020 965,636 $ 31.05 6.7 $ 44,982 Exercisable at December 31, 2020 616,473 $ 23.04 6.2 $ 33,654 The weighted-average grant date fair value of stock options granted during the year ended December 31, 2020 was $22.51. During the years ended December 31, 2020 and 2019, $2,313 and $2,089, respectively, was recorded to selling, general and administrative expense related to stock options. As of December 31, 2020, total unrecognized compensation expense related to unvested stock options, was $2,039, which is expected to be recognized over a weighted-average period of 1.8 years. Restricted stock units During the year ended December 31, 2020, the Company granted 44,564 restricted Class A stock units (“RSUs”) under the 2015 Plan. RSUs granted to members of the Board of Directors vest on the first anniversary of the grant date, provided that the recipient continues to serve on the Board of Directors through the vesting dates. RSUs are also granted to certain employees of the Company and generally vest annually, on a tranche by tranche basis, over a period of four years. RSU awards are valued using the intrinsic value method. Restricted stock units Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Unvested outstanding at January 1, 2020 75,078 $ 51.32 Granted 44,564 $ 63.58 Vested (28,317) $ 51.82 Forfeited (5,294) $ 53.89 Unvested outstanding at December 31, 2020 86,031 $ 57.35 1.8 $ 6,679 During the years ended December 31, 2020 and 2019, $2,426 and $1,961, respectively, was recorded to selling, general and administrative expense related to RSUs. As of December 31, 2020, total unrecognized compensation expense related to unvested RSUs was $2,155, which is expected to be recognized over a weighted-average period of 1.8 years. Performance share units During the year ended December 31, 2020, the Company granted 36,538 restricted Class A performance share units (“PSUs”) under the 2015 Plan. The awards are subject to a set of performance metrics that adjusts the quantity of awards earned from zero up to 200% of the original target quantity depending upon the Company’s results at the end of the three year performance period against the performance metrics. These awards cliff-vest three years from the date of grant, and the Company recognizes compensation expense ratably over the required service period based on its estimate of the number of shares will vest upon achieving the measurement criteria. If there is a change in the estimate of the number of shares that are probable of vesting, the Company will cumulatively adjust compensation expense in the period that the change in estimate is made. Performance share units Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Unvested outstanding at January 1, 2020 31,996 $ 70.69 Granted 36,538 $ 64.35 Vested — $ — Forfeited (2,905) $ 68.96 Unvested outstanding at December 31, 2020 65,629 $ 67.24 0.0 $ — As a result of COVID-19, the performance metrics related to all outstanding PSU awards have fallen below the minimum threshold and as a result, the Company does not expect any shares to vest. During the years ended December 31, 2020 and 2019, a gain of $355 and expense of $355, respectively, was recorded to selling, general and administrative expense related to these PSUs. As of December 31, 2020, total unrecognized compensation expense related to unvested PSUs was $0. 2018 Employee stock purchase plan The 2018 Employee Stock Purchase Plan (the “ESPP”), as adopted by the Board of Directors in March 2018, allows eligible employees to purchase shares of the Company’s Class A common stock at a discount through payroll deductions of up to 10% of their eligible compensation, subject to any plan limitations. The ESPP provides for six-month offering periods, and at the end of each offering period, employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s Class A common stock on the first trading day of the offering period or on the last day of the offering period. As of December 31, 2020, a total of 1,000,000 shares of common stock were authorized and available for the issuance of equity awards under the ESPP. During the year ended December 31, 2020, employees purchased 19,077 shares and $402 was recorded to expense related to the ESPP.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 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 or loss attributable to Planet Fitness, Inc. for the years ended December 31, 2020, 2019, and 2018, by the weighted-average number of shares of Class A common stock outstanding during the same periods. 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 of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock: Basic net income per share: Year Ended December 31, 2020 Year Ended December 31, 2019 Year Ended December 31, 2018 Numerator Net income (loss) $ (15,204) $ 135,413 $ 103,162 Less: net income (loss) attributable to non-controlling interests (213) 17,718 15,141 Net income (loss) attributable to Planet Fitness, Inc. - basic & diluted $ (14,991) $ 117,695 $ 88,021 Denominator Weighted-average shares of Class A common stock outstanding - basic 80,303,277 82,976,620 87,235,021 Effect of dilutive securities: Stock options — 599,425 417,264 RSUs and PSUs — 43,135 22,618 Weighted-average shares of Class A common stock outstanding - diluted 80,303,277 83,619,180 87,674,903 Earnings (loss) per share of Class A common stock - basic $ (0.19) $ 1.42 $ 1.01 Earnings (loss) per share of Class A common stock - diluted $ (0.19) $ 1.41 $ 1.00 Potentially dilutive stock options of 528,464 and restricted stock units of 41,223 for the year ended December 31, 2020 were not included in the computation of diluted loss per share because the inclusion thereof would be antidilutive. Weighted average shares of Class B common stock of 6,292,971, 8,739,015 and 10,275,077 for the years ended December 31, 2020, 2019 and 2018, 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 162,740, 57,273 and 143,006 for the years ended December 31, 2020, 2019 and 2018, 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 548, 755 and 131, for the year ended December 31, 2020, 2019 and 2018, respectively, were evaluated under the treasury stock method for potential dilutive effects and were determined to be anti-dilutive.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Income (loss) before the provision for income taxes as shown in the accompanying consolidated statements of operations is as follows: Year Ended December 31, 2020 2019 2018 Domestic $ (13,382) $ 171,970 $ 128,861 Foreign (1,135) 1,207 2,943 Total income (loss) before the provision for income taxes (14,517) 173,177 131,804 The provision (benefit) for income taxes consists of the following: Year Ended December 31, 2020 2019 2018 Current: Federal $ (6,938) $ 7,359 $ 178 State 256 8,280 3,586 Foreign 156 500 945 Total current tax expense (6,526) 16,139 4,709 Deferred: Federal 2,769 23,289 22,757 State 4,530 (1,346) 946 Foreign (86) (318) 230 Total deferred tax expense 7,213 21,625 23,933 Provision for income taxes $ 687 $ 37,764 $ 28,642 The Company is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and certain state and local income taxes. As a partnership, Pla-Fit Holdings is not subject to U.S. federal and certain state and local income taxes. Any taxable income or loss generated by Pla-Fit Holdings is passed through to and included in the taxable income or loss of its members, including the Company, on a pro rata basis. Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to our allocable share of any taxable income of Pla-Fit Holdings. The Company is also subject to taxes in certain foreign jurisdictions. A reconciliation of the U.S. statutory income tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2020 2019 2018 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % State and local taxes, net of federal benefit 5.7 % 6.2 % 5.9 % State rate change impact on deferred taxes (37.4) % (4.1) % (3.4) % Federal rate change impact on deferred taxes — % — % — % Tax benefit arrangement liability adjustment 8.6 % 0.7 % 0.8 % Foreign tax rate differential (1.0) % — % 0.2 % Withholding taxes and other (0.3) % — % (0.3) % Reserve for uncertain tax position — % 0.1 % (0.2) % Income attributable to non-controlling interests (1.3) % (2.1) % (2.3) % Effective tax rate (4.7) % 21.8 % 21.7 % The Company’s effective tax rate was (4.7)% for the year ended December 31, 2020, in comparison to the U.S. statutory tax rate in 2020 of 21.0%. Our effective tax rate differs from the U.S. statutory rate primarily due to the remeasurement of our deferred taxes. This remeasurement was a result of a reduction in the amount of income apportioned to various states, which resulted in the recognition of a deferred tax expense in 2020. Our effective tax rate is partially offset by a remeasurement of our liability under our tax benefit arrangements. The Company’s effective tax rate was (4.7)% for the year ended December 31, 2020, compared to 21.8% in the prior year. The decrease in our effective income tax rate is primarily due to an income tax expense recorded in 2020 as a result of the remeasurement of its deferred taxes, partially offset by the impact of the remeasurement of the tax benefit arrangements, which is not deductible. Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the accompanying consolidated balance sheets. These temporary differences result in taxable or deductible amounts in future years. Details of the Company’s deferred tax assets and liabilities are summarized as follows: Year Ended December 31, 2020 2019 Deferred tax assets: Deferred revenue $ 5,829 $ 5,343 Goodwill and intangible assets 479,627 410,585 Net operating loss 34,580 — Right-of-use assets 46,061 38,675 Other 3,295 2,178 Deferred tax assets $ 569,392 $ 456,781 Deferred tax liabilities: Prepaid expenses (2,591) (1,021) Property and equipment (16,429) (10,363) Lease liabilities (40,053) (34,220) Total deferred tax liabilities $ (59,073) $ (45,604) Total deferred tax assets and liabilities $ 510,319 $ 411,177 Reported as: Deferred income taxes - non-current assets $ 511,200 $ 412,293 Deferred income taxes - non-current liabilities (881) (1,116) Total deferred tax assets and liabilities $ 510,319 $ 411,177 As of December 31, 2020, we had a net deferred tax asset of $510.3 million. This amount includes gross deferred tax assets of $511.2 million, primarily resulting from tax attributes generated from past exchanges and sales of Holdings Units which will reduce taxable income in future periods. Deferred tax assets are deemed to be more likely than not to be realized. In assessing the need for a valuation allowance, we consider, among other things, projections of future taxable income and ongoing prudent and feasible tax planning strategies. As of December 31, 2020, the Company is not providing a valuation allowance against its deferred tax assets. As of December 31, 2020, the Company had federal net operating loss carryforwards of $141,200, with an indefinite lived carryforward. A summary of the changes in the Company’s unrecognized tax positions is as follows: Year Ended December 31, 2020 2019 Balance at beginning of year $ 420 $ 300 Increase related to current year tax positions — 405 Decrease related to prior year tax positions — (285) Balance at end of year $ 420 $ 420 As of December 31, 2020 and 2019, the total liability related to uncertain tax positions was $420, and is included within other liabilities on our consolidated balance sheets. The table above presents a reconciliation of the beginning and ending balances of the liability for unrecognized tax benefits, excluding interest and penalties, for the years ended December 31, 2020 and 2019. During 2019, the company recognized a net impact of $120 to its liability for unrecognized tax benefits. During 2018, the Company settled a tax examination for $2,625 which was fully indemnified. At the date of settlement the Company had recorded on its balance sheet an unrecognized tax benefit and related indemnification asset of $2,967, reflecting principal and interest, and released $342 as an offset to provision for income taxes and also released an indemnification asset of $342 through other expense. The Company recognized interest and penalties related to uncertain tax positions as a component of income tax expense. The Company and its subsidiaries file U.S. federal income tax returns, as well as tax returns in various state and foreign jurisdictions. Generally, the tax years 2017 through 2020 remain open to examination by the tax authorities in these jurisdictions. 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 the TRA Holders 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay to the Direct TSG Investors 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of the Holdings Units held in respect of the Direct TSG Investors’ interest in the Company, which resulted from the Direct TSG Investors’ purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the benefit of the remaining 15% of the applicable tax savings. The Company recorded other income of $5,949, other expense of $5,966 and other expense of $4,765 in the years ended December 31, 2020, 2019 and 2018, respectively, reflecting a change in the tax benefit obligation attributable to a change in the expected tax benefits. In 2020, 2019 and 2018, the remeasurement was primarily due to various state tax legislation changes enacted in the year as well as acquisitions which resulted in an increase in the amount of income apportioned to various states in future periods and accordingly resulted in a decrease to the tax benefit arrangement liability. In connection with the exchanges that occurred in the secondary offerings and other exchanges during 2020 and 2019, 4,839,866 and 885,810 Holdings Units, respectively, were redeemed by the Continuing LLC Owners for newly-issued shares of Class A common stock, resulting in an increase in the tax basis of the net assets of Pla-Fit Holdings subject to the provisions of the tax receivable agreements. As a result of the change in Planet Fitness, Inc.’s ownership percentage of Pla-Fit Holdings that occurred in conjunction with the exchanges, we recorded a decrease to our net deferred tax assets of $3,490 and $190, during the years ended December 31, 2020 and 2019, respectively. As a result of these exchanges, during the years ended December 31, 2020 and 2019 we also recognized deferred tax assets in the amount of $109,823 and $20,362, respectively, and corresponding tax benefit arrangement liabilities of $93,554 and $17,016, respectively, representing approximately 85% of the tax benefits due to the TRA Holders. The offset to the entries recorded in connection with exchanges in each year was to stockholders’ equity. The tax benefit obligation was $488,200 and $427,216 as of December 31, 2020 and 2019, respectively. Projected future payments under the tax benefit arrangements are as follows: Amount 2021 $ — 2022 9,742 2023 32,359 2024 38,296 2025 47,385 Thereafter 360,418 Total $ 488,200

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies (a) Legal matters 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 September 3, 2020, the Company and other defendants, including an officer of the Company who is a related party, received a final amendment to the joint and several judgment against them in the amount of $5,576, inclusive of accrued interest, in a civil action brought by a former employee. As of December 31, 2020, the Company has estimated its obligation related to this matter to be approximately $2,010, 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 $2,010 in other receivables on the Company’s condensed consolidated balance sheet, for which it has determined to record a full reserve as a result of potential uncertainty around collectability. Due to the joint and several nature of the judgment, the Company has determined that the amount of estimated obligation recorded constitutes a related party transaction. 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. On December 31, 2020, the Company reached agreement on the settlement of certain legal claims for $3,800 and has recorded this amount as expense in other gain (loss) in our consolidated statements of operations. Mexico Acquisition On March 19, 2020, a franchisee in Mexico exercised a put option that requires the Company to acquire their franchisee-owned stores in Mexico. The transaction has not closed as of December 31, 2020 as the parties are in dispute over the final terms of the transaction and related matters. The Company estimates that the purchase price will approximate fair value of the acquired assets. 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. (b) Purchase commitments As of December 31, 2020, the Company had advertising purchase commitments of approximately $32,589, including commitments made by the NAF. In addition, the Company had open purchase orders of approximately $10,199 primarily related to equipment to be sold to franchisees. (c) Guarantees

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Retirement Plan	Retirement PlanThe Company maintains a 401(k) deferred tax savings plan (the Plan) for eligible employees. The Plan provides for the Company to make an employer matching contribution currently equal to 100% of employee deferrals up to a maximum of 4% of each eligible participating employees’ wages. Total employer matching contributions expensed in the consolidated statements of operations were approximately $910, $986, and $832 for the years ended December 31, 2020, 2019 and 2018, respectively.

Segments

Segments	12 Months Ended
	Dec. 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, Panama, Mexico and Australia. The Corporate-owned stores segment includes operations with respect to all Corporate-owned stores throughout the United States and Canada. The Equipment segment includes the sale of equipment to franchisee-owned stores. The accounting policies of the reportable segments are the same as those described in Note 2. The Company evaluates the performance of its segments and allocates resources to them based on revenue and earnings before interest, taxes, depreciation, and amortization, referred to as Segment EBITDA. Revenues for all operating segments include only transactions with unaffiliated customers and include no intersegment revenues. The tables below summarize the financial information for the Company’s reportable segments for the years ended December 31, 2020, 2019 and 2018. The “Corporate and other” column, 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. Year Ended December 31, 2020 2019 2018 Revenue Franchise segment revenue - U.S. $ 202,844 $ 271,375 $ 219,506 Franchise segment revenue - International 3,312 6,207 4,634 Franchise segment total 206,156 277,582 224,140 Corporate-owned stores segment - U.S. 115,174 155,308 134,174 Corporate-owned stores segment - International 1,968 4,389 4,425 Corporate-owned stores segment total 117,142 159,697 138,599 Equipment segment - U.S. 82,331 251,524 210,159 Equipment segment - International 989 — — Equipment segment total 83,320 251,524 210,159 Total revenue $ 406,618 $ 688,803 $ 572,898 Franchise revenue includes revenue generated from placement services of $6,918, $17,755, and $11,502 for the years ended December 31, 2020, 2019 and 2018 , respectively. Year Ended December 31, 2020 2019 2018 Segment EBITDA Franchise $ 114,968 $ 192,281 $ 152,571 Corporate-owned stores 23,672 65,613 56,704 Equipment 13,097 59,618 47,607 Corporate and other (33,242) (46,190) (43,753) Total Segment EBITDA $ 118,495 $ 271,322 $ 213,129 The following table reconciles total Segment EBITDA to income before taxes: Year Ended December 31, 2020 2019 2018 Total Segment EBITDA $ 118,495 $ 271,322 $ 213,129 Less: Depreciation and amortization 53,832 44,346 35,260 Other income (expense) 4,903 (6,107) (6,175) Income from operations 59,760 233,083 184,044 Interest expense, net (79,180) (53,799) (46,065) Other income (expense) 4,903 (6,107) (6,175) Income before income taxes $ (14,517) $ 173,177 $ 131,804 The following table summarizes the Company’s assets by reportable segment: December 31, 2020 December 31, 2019 Franchise $ 174,812 $ 193,504 Corporate-owned stores 468,628 471,234 Equipment 171,201 197,656 Unallocated 1,035,096 854,796 Total consolidated assets $ 1,849,737 $ 1,717,190 The table above includes $828 and $1,039 of long-lived assets located in the Company’s international corporate-owned stores as of December 31, 2020 and 2019 , respectively. The following table summarizes the Company’s goodwill by reportable segment: December 31, 2020 December 31, 2019 Franchise $ 16,938 $ 16,938 Corporate-owned stores 118,217 118,217 Equipment 92,666 92,666 Total consolidated goodwill $ 227,821 $ 227,821

Corporate-owned and franchisee-

Corporate-owned and franchisee-owned stores	12 Months Ended
	Dec. 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 years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 Franchisee-owned stores: Stores operated at beginning of period 1,903 1,666 1,456 New stores opened 125 255 226 Stores debranded, sold or consolidated (1) (7) (18) (16) Stores operated at end of period 2,021 1,903 1,666 Corporate-owned stores: Stores operated at beginning of period 98 76 62 New stores opened 5 6 4 Stores acquired from franchisees — 16 10 Stores operated at end of period 103 98 76 Total stores: Stores operated at beginning of period 2,001 1,742 1,518 New stores opened 130 261 230 Stores debranded, sold or consolidated (1) (7) (2) (6) Stores operated at end of period 2,124 2,001 1,742 (1) The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store. (2) The “stores operated” includes stores that have closed temporarily related to the COVID-19 pandemic. All stores were closed in March 2020 in response to COVID-19, and as of December 31, 2020, 1,760 were re-opened and operating, of which 1,682 were franchisee-owned stores and 78 were corporate-owned stores.

Quarterly financial data

Quarterly financial data	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly financial data	Quarterly financial data (unaudited) For the quarter ended March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Total revenue $ 127,231 $ 40,233 $ 105,383 $ 133,771 Income (loss) from operations 34,267 (22,721) 16,042 32,172 Net income (loss) 10,383 (31,985) (3,284) 9,682 Net income (loss) attributable to Planet Fitness, Inc. 8,607 (29,177) (3,111) 8,690 Earnings (loss) per share: Class A - Basic $ 0.11 $ (0.36) $ (0.04) $ 0.11 Class A - Diluted $ 0.11 $ (0.36) $ (0.04) $ 0.11 For the quarter ended March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Total revenue $ 148,817 $ 181,661 $ 166,815 $ 191,510 Income from operations 53,185 65,266 53,061 61,571 Net income 31,639 39,827 29,692 34,255 Net income attributable to Planet Fitness, Inc. 27,409 34,844 25,777 29,665 Earnings per share: Class A - Basic $ 0.33 $ 0.41 $ 0.31 $ 0.37 Class A - Diluted $ 0.32 $ 0.41 $ 0.31 $ 0.36

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Schedule II – Valuation and Qualifying Accounts (in thousands) Balance at Beginning of Period Provision for (recovery of) doubtful accounts, net Write-offs and other Balance at End of Period Allowance for doubtful accounts: December 31, 2020 $ 111 $ (74) $ (30) $ 7 December 31, 2019 $ 84 $ 87 $ (60) $ 111 December 31, 2018 $ 32 $ 19 $ 33 $ 84

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of presentation and consolidation	Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All significant intercompany balances and transactions have been eliminated in consolidation. 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.
Use of estimates	Use of estimatesThe 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 equity-based compensation awards, the evaluation of the recoverability of goodwill and long-lived assets, including intangible assets, the present value of lease liabilities, income taxes, including deferred tax assets and liabilities and reserves for unrecognized tax benefits, and the liability for the Company’s tax benefit arrangements.
Concentrations	Concentrations Cash and cash equivalents are financial instruments, which potentially subject the Company to a concentration of credit risk. The Company invests its excess cash in several major financial institutions, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. The Company maintains balances in excess of these limits, but does not believe that such deposits with its banks are subject to any unusual risk. The credit risk associated with trade receivables is mitigated due to the large number of customers, generally our franchisees, and their broad dispersion over many different geographic areas. We do not have any concentrations with respect to our revenues.
Cash, cash equivalents and restricted cash	Cash, cash equivalents and restricted cashThe Company considers all highly liquid investments purchased with an original maturity of 90 days or less to be cash equivalents. Cash held within the NAF is recorded as a restricted asset (see Note 4).
Revenue from contract with customer and Deferred revenue	Revenue from contracts with customers The Company’s revenues are comprised of franchise revenue, equipment revenue, and corporate-owned stores revenue. Franchise revenue Franchise revenues consist primarily of royalties, NAF contributions, initial and successor franchise fees and upfront fees from area development agreements (“ADAs”), transfer fees, equipment placement revenue, other fees and commission income. The Company’s primary performance obligation under the franchise license is granting certain rights to use the Company’s intellectual property, and all other services the Company provides under the ADA and franchise agreement are highly interrelated, not distinct within the contract, and therefore accounted for under ASC 606 as a single performance obligation, which is satisfied by granting certain rights to use our intellectual property over the term of each franchise agreement. Royalties, including franchisee contributions to national advertising funds, are calculated as a percentage of franchise monthly dues and annual fees over the term of the franchise agreement. Under our franchise agreements, advertising contributions paid by franchisees must be spent on advertising, marketing and related activities. Initial and successor franchise fees are payable by the franchisee upon signing a new franchise agreement or successor franchise agreement, and transfer fees are paid to the Company when one franchisee transfers a franchise agreement to a different franchisee. Our franchise royalties, as well as our NAF contributions, represent sales-based royalties that are related entirely to our performance obligation under the franchise agreement and are recognized as franchise sales occur. Initial and successor franchise fees, as well as transfer fees, are recognized as revenue on a straight-line basis over the term of the respective franchise agreement. Our ADAs generally consist of an obligation to grant geographic exclusive area development rights. These development rights are not distinct from franchise agreements, so upfront fees paid by franchisees for exclusive development rights are deferred and apportioned to each franchise agreement signed by the franchisee. The pro-rata amount apportioned to each franchise agreement is accounted for identically to the initial franchise fee. The Company is generally responsible for assembly and placement of equipment it sells to U.S. based franchisee-owned stores. Placement revenue is recognized upon completion and acceptance of the services at the franchise location. The Company recognizes commission income from certain of its franchisees’ use of certain preferred vendor arrangements. Commissions are recognized when amounts have been earned and collectability from the vendor is reasonably assured. Online member join fees are paid to the Company by franchisees for processing new membership transactions when a new member signs up for a membership to a franchisee-owned store through the Company’s website. These fees are recognized as revenue as each transaction occurs. Billing transaction fees are paid to the Company by certain of its franchisees for the processing of franchisee membership dues and annual fees through the Company’s third-party hosted point-of-sale system and are recognized as revenue as they are earned. Equipment revenue The Company sells and delivers equipment purchased from third-party equipment manufacturers to U.S. based franchisee-owned stores. Revenue is recognized upon transfer of control of ordered items, generally upon delivery to the customer, which is when the customer obtains physical possession of the goods, legal title is transferred, the customer has all risks and rewards of ownership and an obligation to pay for the goods is created. Franchisees are charged for all freight costs incurred for the delivery of equipment. Freight revenue is recorded within equipment revenue and freight costs are recorded within cost of revenue. In most instances, the Company recognizes equipment revenue on a gross basis as management has determined the Company to be the principal in these transactions. Management determined the Company to be the principal in the transaction because the Company controls the equipment prior to delivery to the final customer as evidenced by its pricing discretion over the goods, inventory transfer of title and risk of loss while the inventory is in transit, and having the primary responsibility to fulfill the customer order and direct the third-party vendor. Corporate-owned stores revenue The following revenues are generated from stores owned and operated by the Company. Membership dues revenue Customers are offered multiple membership choices varying in length. Membership dues are earned and recognized over the membership term on a straight-line basis. Enrollment fee revenue Enrollment fees are charged to new members at the commencement of their membership. The Company recognizes enrollment fees ratably over the estimated duration of the membership life, which is generally two years. Annual membership fee revenue Annual membership fees are annual fees charged to members in addition to and in order to maintain low monthly membership dues. The Company recognizes annual membership fees ratably over the 12-month membership period. Retail sales The Company sells Planet Fitness branded apparel, food, beverages, and other accessories. The revenue for these items is recognized at the point of sale. Sales tax All revenue amounts are recorded net of applicable sales tax.
Cost of revenue	Cost of revenueCost of revenue consists primarily of direct costs associated with equipment sales (including freight costs) and the cost of retail merchandise sold in corporate-owned stores. Costs related to retail merchandise sales were immaterial in all periods presented. Rebates from equipment vendors where the Company has recognized the related equipment revenue and costs are recorded as a reduction to the cost of revenue.
Store operations	Store operationsStore operations consists of the direct costs related to operating corporate-owned stores, including our store management and staff, rent expense, utilities, supplies, maintenance, and local advertising.
Selling, general and administrative	Selling, general and administrativeSelling, general and administrative expenses consist of costs associated with administrative and franchisee support functions related to our existing business as well as growth and development activities. These costs primarily consist of payroll, IT related, marketing, legal and accounting expenses.
Accounts receivable	Accounts receivableAccounts receivable is primarily comprised of amounts owed to the Company resulting from equipment, placement, and commission revenue. The Company evaluates its accounts receivable on an ongoing basis and may establish an allowance for doubtful accounts based on collections and current credit conditions. Accounts are written off as uncollectible when it is determined that further collection efforts will be unsuccessful. Historically, the Company has not had a significant amount of write-offs.
Leases and asset retirement obligations	Leases and asset retirement obligations Topic 842 - Leases We transitioned to FASB Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”), from ASC Topic 840, Leases (the “Previous Standard”) on January 1, 2019 using the effective date as our date of initial application. Our Financial Statements reflect the application of ASC 842 guidance beginning in 2019, while our consolidated financial statements for prior periods were prepared under the guidance of Previous Standards. Upon transition to the new guidance on January 1, 2019, the Company recognized approximately $130,000 of operating lease liabilities. Additionally, the Company recorded ROU assets in a corresponding amount, net of amounts reclassified from other assets and liabilities, including deferred rent, tenant improvement allowances, and favorable lease assets, as specified by the new lease guidance. In connection with the election of the hindsight practical expedient related to reassessing lease terms for existing leases as of January 1, 2019, the Company recorded a cumulative transition adjustment of $1,713, net of tax, which is reflected as an adjustment to January 1, 2019 stockholders’ deficit. Our transition to ASC 842 represents a change in accounting principle. The standard is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Significant Lease Accounting Policies under ASC 842 The Company leases space to operate corporate-owned stores, equipment, office, and warehouse space. We currently lease our corporate headquarters and all but one of our corporate-owned stores. 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 three At the inception of each lease, we determine its appropriate classification as an operating or financing lease. The majority of our leases are operating leases. 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 right of use (“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 Notes. The Company has an immaterial amount of 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. 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. Lease Accounting Policies under Previous Standards, prior to January 1, 2019 if different than under ASC 842 The Company recognizes rent expense related to leased office and operating space on a straight-line basis over the term of the lease. The difference between rent expense and rent paid, if any, as a result of escalation provisions and lease incentives, such as tenant improvements provided by lessors, and is recorded as deferred rent in the Company’s consolidated balance sheets. Asset retirement obligations In accordance with ASC Topic 410, Asset Retirement and Environmental Obligations , the Company establishes assets and liabilities for the present value of estimated future costs to return certain leased facilities to their original condition. Such assets are depreciated on a straight-line basis over the lease period into operating expense, and the recorded liabilities are accreted to the future value of the estimated restoration costs.
Property and equipment	Property and equipmentProperty and equipment is recorded at cost and depreciated using the straight-line method over its related estimated useful life. Leasehold improvements are amortized over the shorter of the expected lease term or the estimated useful life of the related asset, whichever is shorter. Upon sale or retirement, the asset cost and related accumulated depreciation are removed from the respective accounts, and any related gain or loss is reflected in the consolidated statements of operations. Ordinary maintenance and repair costs are expensed as incurred.
Advertising expenses	Advertising expensesThe Company expenses advertising costs as incurred. Advertising expenses, net of amounts reimbursed by franchisees, are included within store operations and selling, general and administrative expenses and totaled $15,132, $13,749, and $12,101 for the years ended December 31, 2020, 2019 and 2018, respectively. See Note 4 for discussion of the national advertising fund.
Goodwill, long-lived assets, and other intangible assets	Goodwill, long-lived assets, and other intangible assets Goodwill and other intangible assets that arise from acquisitions are recorded in accordance with ASC Topic 350, Intangibles—Goodwill and Other . In accordance with this guidance, specifically identified intangible assets must be recorded as a separate asset from goodwill if either of the following two criteria is met: (1) the intangible asset acquired arises from contractual or other legal rights; or (2) the intangible asset is separable. Intangibles are typically trade and brand names, customer relationships, and reacquired franchise rights. Transactions are evaluated to determine whether any gain or loss on reacquired franchise rights, based on their fair value, should be recognized separately from identified intangibles. Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. Goodwill and indefinite-lived intangible assets are not amortized, but are reviewed annually for impairment or more frequently if impairment indicators arise. Separable intangible assets that are not deemed to have an indefinite life are amortized over their estimated useful lives on either a straight-line or accelerated basis as deemed appropriate, and are reviewed for impairment when events or circumstances suggest that the assets may not be recoverable. The Company performs its annual test for impairment of goodwill and indefinite lived intangible assets on December 31 of each year. The annual goodwill test begins with a qualitative assessment, where qualitative factors and their impact on critical inputs are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the Company determines that a reporting unit has an indication of impairment based on the qualitative assessment, it is required to perform a quantitative assessment . Any impairment loss would be recognized in an amount equal to the excess of the carrying value of the goodwill over the implied fair value of the goodwill. During the periods presented, the Company did not need to proceed beyond the qualitative analysis, and no goodwill impairments were recorded. For indefinite lived intangible assets, the impairment assessment consists of comparing the carrying value of the asset to its estimated fair value. To the extent that the carrying value exceeds the fair value of the asset, an impairment is recorded to reduce the carrying value to its fair value. The Company is also permitted to make a qualitative assessment of whether it is more likely than not an indefinite lived intangible asset’s fair value is less than its carrying value prior to applying the quantitative assessment. If based on the Company’s qualitative assessment it is not more likely than not that the carrying value of the asset is less than its fair value, then a quantitative assessment is not required. During the periods presented, the Company did not need to proceed beyond the qualitative analysis, and determined that no impairment charges were required. The Company applies the provisions of ASC Topic 360, Property, Plant and Equipment , which requires that long-lived assets, including amortizable intangible assets, be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for impairment, then assets are required to be grouped and evaluated at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset or asset group to the undiscounted future net cash flows expected to be generated by the asset or asset group. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. There were no assets that were impaired during any of the periods presented.
Income taxes	Income taxes The Company accounts for income taxes using the asset and liability method. Deferred income taxes are recognized for the expected future tax consequences attributable to temporary differences between the carrying amount of the existing tax assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to be applied in the years in which temporary differences are expected to be recovered or settled. The principal items giving rise to temporary differences are the use of accelerated depreciation and certain basis differences resulting from acquisitions and the recapitalization transactions. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Planet Fitness, Inc. is the sole managing member of Pla-Fit Holdings, which is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. 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 Planet Fitness, Inc. following the recapitalization transactions, on a pro rata basis. Planet Fitness, Inc. is subject to U.S. federal income taxes, in addition to state and local income taxes with respect to our allocable share of any taxable income of Pla-Fit Holdings. The Company is also subject to taxes in foreign jurisdictions. The Company recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs (see Note 16).
Tax benefit arrangements	Tax benefit arrangementsThe 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, LLC who are unaffiliated with TSG (the “TRA Holders”) 85% of the applicable tax savings, if any, in U.S. federal and state income tax that the Company is deemed to realize as a result of certain tax attributes of their Holdings Units sold to the Company (or exchanged in a taxable sale) and that are created as a result of (i) the sales of their Holdings Units for shares of Class A common stock and (ii) tax benefits attributable to payments made under the tax receivable agreement (including imputed interest). Under the second tax receivable agreement, the Company generally is required to pay to the Direct TSG Investors 85% of the amount of tax savings, if any, that the Company is deemed to realize as a result of the tax attributes of the Holdings Units held in respect of the Direct TSG Investors’ interest in the Company, which resulted from the Direct TSG Investors’ purchase of interests in Pla-Fit Holdings in 2012, and certain other tax benefits. Under both agreements, the Company generally retains the benefit of the remaining 15% of the applicable tax savings.Based on current projections, the Company anticipates having sufficient taxable income to utilize these tax attributes and receive corresponding tax deductions in future periods. Accordingly, as of December 31, 2020 the Company has recorded a liability of $488,200 payable to the TRA Holders under the tax benefit obligations, representing approximately 85% of the calculated tax savings based on the original basis adjustments the Company anticipates being able to utilize in future years. Changes in the projected liability resulting from these tax benefit arrangements may occur based on changes in anticipated future taxable income, changes in applicable tax rates or other changes in tax attributes that may occur and impact the expected future tax benefits to be received by the Company. Changes in the projected liability under these tax benefit arrangements will be recorded as a component of other income (expense) each period. The projection of future taxable income involves significant judgment. Actual taxable income may differ from estimates, which could significantly impact the liability under the tax benefit arrangements and the Company’s consolidated results of operations.
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.
Financial instruments	Financial instrumentsThe carrying values of cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximate fair value because of the short-term nature of these instruments.
Derivative instruments and hedging activities	Derivative instruments and hedging activities The Company recognizes all derivative instruments as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in the fair value are either offset through earnings against the change in fair value of the hedged item attributable to the risk being hedged or recognized in accumulated other comprehensive income, to the extent the derivative is effective at offsetting the changes in cash flows being hedged until the hedged item affects earnings. The Company only enters into derivative contracts that it intends to designate as a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). For all hedging relationships, the Company formally documents the hedging relationship and its risk-management objective and strategy for undertaking the hedge, the hedging instrument, the hedged transaction, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed prospectively and retrospectively, and a description of the method used to measure ineffectiveness. The Company also formally assesses, both at the inception of the hedging relationship and on an ongoing basis, whether the derivatives that are used in hedging relationships are highly effective in offsetting changes in cash flows of hedged transactions. For derivative instruments that are designated and qualify as part of a cash flow hedging relationship, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. See Note 10 for further information.
Equity-based compensation	Equity-based compensationThe Company has an equity-based compensation plan under which it receives services from employees and directors as consideration for equity instruments of the Company. The compensation expense is determined based on the fair value of the award as of the grant date. Compensation expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are satisfied. For awards with graded vesting, the fair value of each tranche is recognized over its respective vesting period. The Company accounts for forfeitures as they occur by reversing compensation cost for unvested awards when the award is forfeited. See Note 14 for further information.
Business combinations	Business combinationsThe Company accounts for business combinations using the purchase method of accounting which results in the assets acquired and liabilities assumed being recorded at fair value. The valuation methodologies used are based on the nature of the asset or liability. The significant assets and liabilities measured at fair value include property and equipment, intangible assets, including trade names, member relationships and re-acquired franchise rights, deferred revenue and favorable and unfavorable leases. The fair value of trade and brand names is estimated using the relief from royalty method, an income approach to valuation, which includes projecting future system-wide sales and other estimates. Membership relationships and franchisee relationships are valued based on an estimate of future revenues and costs related to the respective contracts over the remaining expected lives. The valuation includes assumptions related to the projected attrition and renewal rates on those existing franchise and membership arrangements being valued. Re-acquired franchise rights are valued using an excess earnings approach. The valuation of re-acquired franchise rights is determined using an estimation of future royalty income and related expenses associated with existing franchise contracts at the acquisition date. For re-acquired franchise rights with terms that are either favorable or unfavorable (from the Company’s perspective) to the terms included in the Company’s current franchise agreements, a gain or charge is recorded at the time of the acquisition to the extent of the favorability or unfavorability, respectively. Favorable and unfavorable operating leases are recorded based on differences between contractual rents under the respective lease agreements and prevailing market rents at the lease acquisition date. Subsequent to the adoption of ASC 842 on January 1, 2019, these are recorded as a component of the ROU asset and prior to the adoption of ASC 842 were recorded as intangible assets. Deferred revenue is valued based on estimated costs to fulfill the obligations assumed, plus a normal profit margin. No deferred revenue amounts are recognized for enrollment fees in the Company’s business combinations as there is no remaining obligation. The Company considers its trade and brand name intangible assets to have an indefinite useful life, and, therefore, these assets are not amortized but rather are tested for impairment annually as discussed above. Amortization of re-acquired franchise rights and franchisee relationships is recorded over the respective franchise terms using the straight-line method which the Company believes approximates the period during which the related benefits are expected to be received. Member relationships are amortized on an accelerated basis based on expected attrition. Favorable and unfavorable operating leases are amortized into rental expense over the lease term of the respective leases using the straight-line method.
Guarantees	GuaranteesThe Company, as a guarantor, is required to recognize, at inception of the guaranty, a liability for the fair value of the obligation undertaken in issuing the guarantee. See Note 3 and Note 17 for further discussion of such obligations guaranteed.
Contingencies	ContingenciesThe Company records estimated future losses related to contingencies when such amounts are probable and estimable. The Company includes estimated legal fees related to such contingencies as part of the accrual for estimated future losses.
Reclassifications	ReclassificationsCertain amounts have been reclassified to conform to current year presentation.
Recent accounting pronouncements	Recent accounting pronouncements In February 2016, the FASB established Topic 842, Leases , by issuing ASU No. 2016-02, Leases , in February 2016. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements . This guidance is intended to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The new guidance requires lessees to recognize the assets and liabilities on the balance sheet for the rights and obligations created by leases with lease terms of more than 12 months, amends various other aspects of accounting for leases by lessees and lessors, and requires enhanced disclosures. Leases will be classified as finance or operating, with the classification affecting the pattern and classification of expense recognition within the income statement. The Company adopted the new standard on January 1, 2019 and used the effective date as our date of initial application. See above for lease accounting policies and Note 7. The FASB issued ASU No. 2017-4, 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 the new guidance on January 1, 2020, with 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 the new guidance on January 1, 2020, with no material impact on the Company’s consolidated financial statements. The FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , in December 2019. The guidance simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. This guidance will be effective for fiscal years beginning after December 15, 2020, including interim periods within that year. This new guidance is not expected to have a material impact on the Company’s consolidated financial statements.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Fixed Assets	The estimated useful lives of the Company’s fixed assets by class of asset are as follows: Years Buildings and building improvements 20–40 Information technology and systems 3-5 Furniture and fixtures 5 Leasehold improvements Useful life or term of lease Fitness equipment 5–7 Vehicles 5 Property and equipment as of December 31, 2020 and 2019 consists of the following: December 31, 2020 December 31, 2019 Land $ 1,341 $ 1,341 Equipment 57,687 51,039 Leasehold improvements 115,619 97,977 Buildings and improvements 8,589 8,589 Furniture & fixtures 23,836 19,129 Information technology and systems assets 48,552 35,419 Other 2,615 2,192 Construction in progress 10,158 3,416 $ 268,397 $ 219,102 Accumulated depreciation (107,720) (73,621) Total $ 160,677 $ 145,481
Summary of Company's Assets and Liabilities Measured at Fair Value on Recurring Basis	The carrying value and estimated fair value of long-term debt as of December 31, 2020 and December 31, 2019 were as follows: December 31, 2020 December 31, 2019 Carrying value Estimated fair value (1) Carrying value Estimated fair value (1) Long-term debt $ 1,717,500 $ 1,699,749 $ 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)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Carrying Value of Variable Interest Entities of Consolidated Financial Statements	The carrying values of VIEs included in the consolidated financial statements as of December 31, 2020 and December 31, 2019 are as follows: December 31, 2020 December 31, 2019 Assets Liabilities Assets Liabilities PF Melville $ 2,523 $ — $ 2,682 $ — MMR $ 2,099 — $ 2,206 — Total $ 4,622 $ — $ 4,888 $ —

Acquisition (Tables)

Acquisition (Tables)	12 Months Ended
	Dec. 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 The purchase consideration was allocated as follows: Amount Fixed assets $ 3,873 Reacquired franchise rights 4,610 Customer relationships 140 Favorable leases, net 80 Other assets 143 Goodwill 8,476 Liabilities assumed, including deferred revenues (83) $ 17,239 The purchase consideration was allocated as follows: Amount Fixed assets $ 4,672 Reacquired franchise rights 7,640 Customer relationships 1,150 Favorable leases, net 520 Reacquired area development rights 150 Other assets 275 Goodwill 14,056 Liabilities assumed, including deferred revenues (310) $ 28,153

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	The estimated useful lives of the Company’s fixed assets by class of asset are as follows: Years Buildings and building improvements 20–40 Information technology and systems 3-5 Furniture and fixtures 5 Leasehold improvements Useful life or term of lease Fitness equipment 5–7 Vehicles 5 Property and equipment as of December 31, 2020 and 2019 consists of the following: December 31, 2020 December 31, 2019 Land $ 1,341 $ 1,341 Equipment 57,687 51,039 Leasehold improvements 115,619 97,977 Buildings and improvements 8,589 8,589 Furniture & fixtures 23,836 19,129 Information technology and systems assets 48,552 35,419 Other 2,615 2,192 Construction in progress 10,158 3,416 $ 268,397 $ 219,102 Accumulated depreciation (107,720) (73,621) Total $ 160,677 $ 145,481

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Balance Sheet Classification of Lease Assets and Liabilities	Leases Classification December 31, 2020 December 31, 2019 Assets Operating lease assets Right of use asset, net $ 164,252 $ 155,633 Finance lease assets Property and equipment, net of accumulated depreciation 306 309 Total lease assets $ 164,558 $ 155,942 Liabilities Current: Operating Other current liabilities $ 19,544 $ 16,755 Noncurrent: Operating Lease liabilities, net of current portion 167,910 152,920 Financing Other liabilities 327 333 Total lease liabilities $ 187,781 $ 170,008 Weighted-average remaining lease term (years) - operating leases 8.7 8.6 Weighted-average discount rate - operating leases 5.1 % 5.0 %
Components of Lease Cost	For the years ended December 31, 2020 and 2019, the components of lease cost were as follows: December 31, 2020 December 31, 2019 Operating lease cost $ 26,255 $ 20,635 Variable lease cost 10,324 8,323 Total lease cost $ 36,579 $ 28,958 Supplemental disclosures of cash flow information related to leases were as follows: December 31, 2020 December 31, 2019 Cash paid for lease liabilities $ 24,091 $ 19,502 Operating assets obtained in exchange for operating lease liabilities $ 33,140 $ 43,016
Schedule of Supplemental Disclosures of Cash Flow Information Related to Leases	For the years ended December 31, 2020 and 2019, the components of lease cost were as follows: December 31, 2020 December 31, 2019 Operating lease cost $ 26,255 $ 20,635 Variable lease cost 10,324 8,323 Total lease cost $ 36,579 $ 28,958 Supplemental disclosures of cash flow information related to leases were as follows: December 31, 2020 December 31, 2019 Cash paid for lease liabilities $ 24,091 $ 19,502 Operating assets obtained in exchange for operating lease liabilities $ 33,140 $ 43,016
Maturities of Lease Liabilities	As of December 31, 2020, maturities of lease liabilities were as follows: Amount 2021 $ 28,405 2022 28,803 2023 28,367 2024 26,844 2025 26,087 Thereafter 95,872 Total lease payments $ 234,378 Less: imputed interest 46,597 Present value of lease liabilities $ 187,781
Maturities of Lease Liabilities	As of December 31, 2020, maturities of lease liabilities were as follows: Amount 2021 $ 28,405 2022 28,803 2023 28,367 2024 26,844 2025 26,087 Thereafter 95,872 Total lease payments $ 234,378 Less: imputed interest 46,597 Present value of lease liabilities $ 187,781

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets	A summary of goodwill and intangible assets at December 31, 2020 and 2019 is as follows: December 31, 2020 Weighted Gross Accumulated Net carrying Customer relationships 11.0 $ 174,033 (124,907) $ 49,126 Reacquired franchise rights 8.0 37,660 (16,311) 21,349 $ 211,693 $ (141,218) $ 70,475 Indefinite-lived intangible: Trade and brand names N/A 146,600 — 146,600 Total intangible assets $ 358,293 $ (141,218) $ 217,075 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 Goodwill	A rollforward of goodwill during the years ended December 31, 2020 or 2019 is as follows: Franchise Corporate-owned stores Equipment Total As of December 31, 2018 $ 16,938 $ 89,909 $ 92,666 $ 199,513 Acquisition of franchisee-owned stores — 28,308 — 28,308 As of December 31, 2019 $ 16,938 $ 118,217 $ 92,666 $ 227,821 Acquisition of franchisee-owned stores — — — — As of December 31, 2020 $ 16,938 $ 118,217 $ 92,666 $ 227,821 The following table summarizes the Company’s goodwill by reportable segment: December 31, 2020 December 31, 2019 Franchise $ 16,938 $ 16,938 Corporate-owned stores 118,217 118,217 Equipment 92,666 92,666 Total consolidated goodwill $ 227,821 $ 227,821
Summary of Amortization expenses	The anticipated annual amortization expense to be recognized in future years as of December 31, 2020 is as follows: Amount 2021 $ 16,636 2022 16,728 2023 16,558 2024 14,067 2025 3,066 Thereafter 3,420 Total $ 70,475

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt as of December 31, 2020 and 2019 consists of the following: December 31, 2020 December 31, 2019 2018-1 Class A-2-I notes $ 562,063 $ 567,813 2018-1 Class A-2-II notes 610,938 617,187 2019-1 Class A-2 notes 544,500 550,000 Variable Funding notes 75,000 — Total debt, excluding deferred financing costs 1,792,501 1,735,000 Deferred financing costs, net of accumulated amortization (23,575) (29,995) Total debt 1,768,926 1,705,005 Current portion of long-term debt and Variable Funding Note 17,500 17,500 Long-term debt and borrowings under Variable Funding Notes, net of current portion $ 1,751,426 $ 1,687,505
Schedule of Future Annual Payments of Long-term Debt	Future annual principal payments of long-term debt as of December 31, 2020 are as follows: Amount 2021 $ 17,500 2022 568,063 2023 86,750 2024 11,750 2025 591,438 Thereafter 517,000 Total $ 1,792,501

Revenue from contract with cu_2

Revenue from contract with customers (Tables)	12 Months Ended
	Dec. 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 December 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 (23,461) Increase, excluding amounts recognized as revenue during the period 20,685 Balance at December 31, 2020 $ 59,278 The summary set forth below represents the balances in deferred revenue as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Prepaid membership fees $ 6,021 $ 7,231 Enrollment fees 399 915 Equipment discount 4,013 3,796 Annual membership fees 12,506 12,185 Area development and franchise fees 36,339 37,927 Total deferred revenue 59,278 62,054 Long-term portion of deferred revenue 32,587 34,458 Current portion of deferred revenue $ 26,691 $ 27,596
Remaining Performance Obligation	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 2021 $ 26,691 2022 3,707 2023 3,567 2024 3,324 2025 2,998 Thereafter 18,991 Total $ 59,278
Schedule of Balances in Deferred Revenue	The following table reflects the change in contract liabilities between December 31, 2019 and December 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 (23,461) Increase, excluding amounts recognized as revenue during the period 20,685 Balance at December 31, 2020 $ 59,278 The summary set forth below represents the balances in deferred revenue as of December 31, 2020 and 2019: December 31, 2020 December 31, 2019 Prepaid membership fees $ 6,021 $ 7,231 Enrollment fees 399 915 Equipment discount 4,013 3,796 Annual membership fees 12,506 12,185 Area development and franchise fees 36,339 37,927 Total deferred revenue 59,278 62,054 Long-term portion of deferred revenue 32,587 34,458 Current portion of deferred revenue $ 26,691 $ 27,596

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Activity with franchisees considered to be related parties is summarized below. For the Year Ended December 31, 2020 2019 2018 Franchise revenue $ 1,415 $ 2,341 $ 3,179 Equipment revenue 515 3,333 3,977 Total revenue from related parties $ 1,930 $ 5,674 $ 7,156

Equity-based compensation (Tabl

Equity-based compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Fair Value of Stock Option Awards Determined on Grant Date	The fair value of stock option awards granted were determined on the grant date using the Black-Scholes valuation model based on the following assumptions: Year ended December 31, 2020 2019 Expected term (years) (1) 0.25 - 6.25 6.25 Expected volatility (2) 28.5% - 139.8% 28.0% - 28.5% Risk-free interest rate (3) 0.14% - 1.67% 1.62% - 2.37% Dividend yield (4) — % — % (1) Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method. (2) Expected volatility is based on the historical volatility of a selected peer group over a period equivalent to the expected term. (3) The risk-free rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term. (4) Based on an assumed a dividend yield of zero at the time of grant.
Summary of Stock Option Activity	A summary of stock option activity for the year ended December 31, 2020: Stock Options Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Outstanding at January 1, 2020 957,125 $ 26.86 Granted 106,064 $ 63.16 Exercised (76,402) $ 21.46 Forfeited (21,151) $ 37.19 Outstanding at December 31, 2020 965,636 $ 31.05 6.7 $ 44,982 Vested or expected to vest at December 31, 2020 965,636 $ 31.05 6.7 $ 44,982 Exercisable at December 31, 2020 616,473 $ 23.04 6.2 $ 33,654
Summary of Restricted Stock Units Activity	Restricted stock units Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Unvested outstanding at January 1, 2020 75,078 $ 51.32 Granted 44,564 $ 63.58 Vested (28,317) $ 51.82 Forfeited (5,294) $ 53.89 Unvested outstanding at December 31, 2020 86,031 $ 57.35 1.8 $ 6,679 Performance share units Weighted average Weighted average remaining contractual term (years) Aggregate intrinsic value Unvested outstanding at January 1, 2020 31,996 $ 70.69 Granted 36,538 $ 64.35 Vested — $ — Forfeited (2,905) $ 68.96 Unvested outstanding at December 31, 2020 65,629 $ 67.24 0.0 $ —

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 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 of the numerators and denominators used to compute basic and diluted earnings per share of Class A common stock: Basic net income per share: Year Ended December 31, 2020 Year Ended December 31, 2019 Year Ended December 31, 2018 Numerator Net income (loss) $ (15,204) $ 135,413 $ 103,162 Less: net income (loss) attributable to non-controlling interests (213) 17,718 15,141 Net income (loss) attributable to Planet Fitness, Inc. - basic & diluted $ (14,991) $ 117,695 $ 88,021 Denominator Weighted-average shares of Class A common stock outstanding - basic 80,303,277 82,976,620 87,235,021 Effect of dilutive securities: Stock options — 599,425 417,264 RSUs and PSUs — 43,135 22,618 Weighted-average shares of Class A common stock outstanding - diluted 80,303,277 83,619,180 87,674,903 Earnings (loss) per share of Class A common stock - basic $ (0.19) $ 1.42 $ 1.01 Earnings (loss) per share of Class A common stock - diluted $ (0.19) $ 1.41 $ 1.00

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Before Provision for Income Taxes	Income (loss) before the provision for income taxes as shown in the accompanying consolidated statements of operations is as follows: Year Ended December 31, 2020 2019 2018 Domestic $ (13,382) $ 171,970 $ 128,861 Foreign (1,135) 1,207 2,943 Total income (loss) before the provision for income taxes (14,517) 173,177 131,804
Schedule of Provision (Benefit) for Income Taxes	The provision (benefit) for income taxes consists of the following: Year Ended December 31, 2020 2019 2018 Current: Federal $ (6,938) $ 7,359 $ 178 State 256 8,280 3,586 Foreign 156 500 945 Total current tax expense (6,526) 16,139 4,709 Deferred: Federal 2,769 23,289 22,757 State 4,530 (1,346) 946 Foreign (86) (318) 230 Total deferred tax expense 7,213 21,625 23,933 Provision for income taxes $ 687 $ 37,764 $ 28,642
Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Tax Rate	A reconciliation of the U.S. statutory income tax rate to the Company’s effective tax rate is as follows: Year Ended December 31, 2020 2019 2018 U.S. statutory tax rate 21.0 % 21.0 % 21.0 % State and local taxes, net of federal benefit 5.7 % 6.2 % 5.9 % State rate change impact on deferred taxes (37.4) % (4.1) % (3.4) % Federal rate change impact on deferred taxes — % — % — % Tax benefit arrangement liability adjustment 8.6 % 0.7 % 0.8 % Foreign tax rate differential (1.0) % — % 0.2 % Withholding taxes and other (0.3) % — % (0.3) % Reserve for uncertain tax position — % 0.1 % (0.2) % Income attributable to non-controlling interests (1.3) % (2.1) % (2.3) % Effective tax rate (4.7) % 21.8 % 21.7 %
Schedule of Deferred Tax Assets and Liabilities	Details of the Company’s deferred tax assets and liabilities are summarized as follows: Year Ended December 31, 2020 2019 Deferred tax assets: Deferred revenue $ 5,829 $ 5,343 Goodwill and intangible assets 479,627 410,585 Net operating loss 34,580 — Right-of-use assets 46,061 38,675 Other 3,295 2,178 Deferred tax assets $ 569,392 $ 456,781 Deferred tax liabilities: Prepaid expenses (2,591) (1,021) Property and equipment (16,429) (10,363) Lease liabilities (40,053) (34,220) Total deferred tax liabilities $ (59,073) $ (45,604) Total deferred tax assets and liabilities $ 510,319 $ 411,177 Reported as: Deferred income taxes - non-current assets $ 511,200 $ 412,293 Deferred income taxes - non-current liabilities (881) (1,116) Total deferred tax assets and liabilities $ 510,319 $ 411,177
Summary Of Changes In Unrecognized Tax Positions	A summary of the changes in the Company’s unrecognized tax positions is as follows: Year Ended December 31, 2020 2019 Balance at beginning of year $ 420 $ 300 Increase related to current year tax positions — 405 Decrease related to prior year tax positions — (285) Balance at end of year $ 420 $ 420
Schedule of Future Payments Under Tax Benefit Arrangements	Projected future payments under the tax benefit arrangements are as follows: Amount 2021 $ — 2022 9,742 2023 32,359 2024 38,296 2025 47,385 Thereafter 360,418 Total $ 488,200

Segments (Tables)

Segments (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Summary of Financial Information for the Company's Reportable Segments	The tables below summarize the financial information for the Company’s reportable segments for the years ended December 31, 2020, 2019 and 2018. The “Corporate and other” column, 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. Year Ended December 31, 2020 2019 2018 Revenue Franchise segment revenue - U.S. $ 202,844 $ 271,375 $ 219,506 Franchise segment revenue - International 3,312 6,207 4,634 Franchise segment total 206,156 277,582 224,140 Corporate-owned stores segment - U.S. 115,174 155,308 134,174 Corporate-owned stores segment - International 1,968 4,389 4,425 Corporate-owned stores segment total 117,142 159,697 138,599 Equipment segment - U.S. 82,331 251,524 210,159 Equipment segment - International 989 — — Equipment segment total 83,320 251,524 210,159 Total revenue $ 406,618 $ 688,803 $ 572,898 Year Ended December 31, 2020 2019 2018 Segment EBITDA Franchise $ 114,968 $ 192,281 $ 152,571 Corporate-owned stores 23,672 65,613 56,704 Equipment 13,097 59,618 47,607 Corporate and other (33,242) (46,190) (43,753) Total Segment EBITDA $ 118,495 $ 271,322 $ 213,129
Reconciliation of Total Segment EBITDA to Income Before Taxes	The following table reconciles total Segment EBITDA to income before taxes: Year Ended December 31, 2020 2019 2018 Total Segment EBITDA $ 118,495 $ 271,322 $ 213,129 Less: Depreciation and amortization 53,832 44,346 35,260 Other income (expense) 4,903 (6,107) (6,175) Income from operations 59,760 233,083 184,044 Interest expense, net (79,180) (53,799) (46,065) Other income (expense) 4,903 (6,107) (6,175) Income before income taxes $ (14,517) $ 173,177 $ 131,804
Summary of Company's Assets by Reportable Segment	The following table summarizes the Company’s assets by reportable segment: December 31, 2020 December 31, 2019 Franchise $ 174,812 $ 193,504 Corporate-owned stores 468,628 471,234 Equipment 171,201 197,656 Unallocated 1,035,096 854,796 Total consolidated assets $ 1,849,737 $ 1,717,190
Summary of Company's Goodwill by Reportable Segment	A rollforward of goodwill during the years ended December 31, 2020 or 2019 is as follows: Franchise Corporate-owned stores Equipment Total As of December 31, 2018 $ 16,938 $ 89,909 $ 92,666 $ 199,513 Acquisition of franchisee-owned stores — 28,308 — 28,308 As of December 31, 2019 $ 16,938 $ 118,217 $ 92,666 $ 227,821 Acquisition of franchisee-owned stores — — — — As of December 31, 2020 $ 16,938 $ 118,217 $ 92,666 $ 227,821 The following table summarizes the Company’s goodwill by reportable segment: December 31, 2020 December 31, 2019 Franchise $ 16,938 $ 16,938 Corporate-owned stores 118,217 118,217 Equipment 92,666 92,666 Total consolidated goodwill $ 227,821 $ 227,821

Corporate-owned and franchise_2

Corporate-owned and franchisee-owned stores (Tables)	12 Months Ended
	Dec. 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 years ended December 31, 2020, 2019 and 2018: Year Ended December 31, 2020 2019 2018 Franchisee-owned stores: Stores operated at beginning of period 1,903 1,666 1,456 New stores opened 125 255 226 Stores debranded, sold or consolidated (1) (7) (18) (16) Stores operated at end of period 2,021 1,903 1,666 Corporate-owned stores: Stores operated at beginning of period 98 76 62 New stores opened 5 6 4 Stores acquired from franchisees — 16 10 Stores operated at end of period 103 98 76 Total stores: Stores operated at beginning of period 2,001 1,742 1,518 New stores opened 130 261 230 Stores debranded, sold or consolidated (1) (7) (2) (6) Stores operated at end of period 2,124 2,001 1,742 (1) The term “debrand” refers to a franchisee-owned store whose right to use the Planet Fitness brand and marks has been terminated in accordance with the franchise agreement. We retain the right to prevent debranded stores from continuing to operate as fitness centers. The term “consolidated” refers to the combination of a franchisee’s store with another store located in close proximity with our prior approval. This often coincides with an enlargement, re-equipment and/or refurbishment of the remaining store. (2) The “stores operated” includes stores that have closed temporarily related to the COVID-19 pandemic. All stores were closed in March 2020 in response to COVID-19, and as of December 31, 2020, 1,760 were re-opened and operating, of which 1,682 were franchisee-owned stores and 78 were corporate-owned stores.

Quarterly financial data (Table

Quarterly financial data (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Data	For the quarter ended March 31, 2020 June 30, 2020 September 30, 2020 December 31, 2020 Total revenue $ 127,231 $ 40,233 $ 105,383 $ 133,771 Income (loss) from operations 34,267 (22,721) 16,042 32,172 Net income (loss) 10,383 (31,985) (3,284) 9,682 Net income (loss) attributable to Planet Fitness, Inc. 8,607 (29,177) (3,111) 8,690 Earnings (loss) per share: Class A - Basic $ 0.11 $ (0.36) $ (0.04) $ 0.11 Class A - Diluted $ 0.11 $ (0.36) $ (0.04) $ 0.11 For the quarter ended March 31, 2019 June 30, 2019 September 30, 2019 December 31, 2019 Total revenue $ 148,817 $ 181,661 $ 166,815 $ 191,510 Income from operations 53,185 65,266 53,061 61,571 Net income 31,639 39,827 29,692 34,255 Net income attributable to Planet Fitness, Inc. 27,409 34,844 25,777 29,665 Earnings per share: Class A - Basic $ 0.33 $ 0.41 $ 0.31 $ 0.37 Class A - Diluted $ 0.32 $ 0.41 $ 0.31 $ 0.36

Business organization - Additio

Business organization - Additional Information (Detail) member in Millions	12 Months Ended
	Dec. 31, 2020segmentmemberstatestoreshares	Dec. 31, 2019storeshares	Dec. 31, 2018storeshares	Dec. 31, 2017store	Aug. 05, 2015
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of members | member	13.5
Number of owned and franchised locations | store	2,124	2,001	1,742	1,518
Number of states in which entity operates | state	50
Number of reportable segments | segment	3
Continuing LLC Owners
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Stock issued during period, shares, conversion of units (in shares)	4,839,866	885,810	1,736,020
Number of units held by owners (in shares)	3,722,054
Percentage of economic interest (in percentage)	4.30%
Class A Common Stock
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of stock issued during period (in shares)	4,839,866	885,810	1,736,020
Class A Common Stock | Continuing LLC Owners
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of stock issued during period (in shares)	4,839,866	885,810	1,736,020
Number of shares exchanged (in shares)	4,839,866	885,810
Class B Common Stock
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of shares exchanged (in shares)	4,839,866	885,810	1,736,020
Class B Common Stock | Continuing LLC Owners
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of shares exchanged (in shares)	4,839,866	885,810	1,736,020
Number of units held by owners (in shares)	3,722,054
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)	95.70%
Pla-Fit Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of units held by owners (in shares)	4,839,866	885,810	1,736,020
Pla-Fit Holdings, LLC | Planet Intermediate, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership (in percentage)					100.00%
Planet Intermediate, LLC | Planet Fitness Holdings, LLC
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Percentage of ownership (in percentage)					100.00%

Summary of significant accoun_4

Summary of significant accounting policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)agreement	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2017USD ($)
Significant Accounting Policies [Line Items]
Restricted cash	$ 76,322,000	$ 42,539,000
Selling, general and administrative	68,585,000	78,818,000	$ 72,446,000
Cumulative transition adjustment	(705,673,000)	(707,754,000)	(382,789,000)		$ (136,937,000)
Goodwill impairment	0	0	0
Impairment charges	$ 0	0	0
Number of tax receivable agreements | agreement	2
Applicable tax savings (in percentage)	85.00%
Percentage of remaining tax savings (in percentage)	15.00%
Accumulated deficit
Significant Accounting Policies [Line Items]
Cumulative transition adjustment	$ (751,578,000)	(736,587,000)	(394,410,000)		(130,966,000)
Cumulative Effect, Period of Adoption, Adjustment
Significant Accounting Policies [Line Items]
Cumulative transition adjustment			(1,713,000)		(9,192,000)
Cumulative Effect, Period of Adoption, Adjustment | Accumulated deficit
Significant Accounting Policies [Line Items]
Cumulative transition adjustment			(1,713,000)		$ (9,192,000)
Cash Held By Debt Indenture Trustee
Significant Accounting Policies [Line Items]
Restricted cash	60,314,000
TRA Holders
Significant Accounting Policies [Line Items]
Liability payable under tax benefit obligations	488,200,000
Selling, General and Administrative Expnses
Significant Accounting Policies [Line Items]
Advertising expenses	15,132,000	13,749,000	12,101,000
Placement Services
Significant Accounting Policies [Line Items]
Selling, general and administrative	$ 3,341,000	$ 7,063,000	$ 5,397,000
Accounting Standards Update 2016-02
Significant Accounting Policies [Line Items]
Present value of lease liabilities				$ 130,000,000
Accounting Standards Update 2016-02 | Cumulative Effect, Period of Adoption, Adjustment | Accumulated deficit
Significant Accounting Policies [Line Items]
Cumulative transition adjustment				$ 1,713,000
Equipment Purchase | Supplier Concentration Risk | Vendor one
Significant Accounting Policies [Line Items]
Purchases from vendor (in percentage)	48.00%	48.00%	76.00%
Equipment Purchase | Supplier Concentration Risk | Vendor two
Significant Accounting Policies [Line Items]
Purchases from vendor (in percentage)	40.00%	35.00%	13.00%
Equipment Purchase | Supplier Concentration Risk | Vendor three
Significant Accounting Policies [Line Items]
Purchases from vendor (in percentage)		12.00%
Advertising Purchase | Supplier Concentration Risk | Vendor one
Significant Accounting Policies [Line Items]
Purchases from vendor (in percentage)	71.00%	38.00%	65.00%
Advertising Purchase | Supplier Concentration Risk | Vendor two
Significant Accounting Policies [Line Items]
Purchases from vendor (in percentage)		15.00%
Maximum
Significant Accounting Policies [Line Items]
Insured amount	$ 250,000,000
Remaining lease term (in years)	10 years
Renewal term (in years)	10 years
Minimum
Significant Accounting Policies [Line Items]
Remaining lease term (in years)	1 year
Renewal term (in years)	3 years
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 Estimated Useful Lives of Company's Fixed assets (Detail)	12 Months Ended
	Dec. 31, 2020
Buildings and building improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	20 years
Buildings and building improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	40 years
Information technology and systems | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	3 years
Information technology and systems | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	5 years
Fitness equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	5 years
Fitness equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	7 years
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in years)	5 years

Summary of significant accoun_6

Summary of significant accounting policies - Summary of Company's Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Carrying value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt	$ 1,717,500	$ 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	1,699,749	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	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 1,849,737	$ 1,717,190
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Assets	4,622	4,888
Liabilities	0	0
Variable Interest Entity, Primary Beneficiary | PF Melville
Variable Interest Entity [Line Items]
Assets	2,523	2,682
Liabilities	0	0
Variable Interest Entity, Primary Beneficiary | MMR
Variable Interest Entity [Line Items]
Assets	2,099	2,206
Liabilities	$ 0	$ 0

Variable interest entities - Ad

Variable interest entities - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Franchisee lease term, maximum (in years)	10 years
Maximum obligation of guarantees of leases and debt	$ 7,842	$ 10,309

National advertising fund - Add

National advertising fund - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Initial administrative fees charged	$ 1,930	$ 5,674	$ 7,156
Planet Fitness NAF, LLC
Related Party Transaction [Line Items]
Percentage of franchise membership billing revenue	2.00%
Percentage of monthly membership billing contribution	2.00%

Acquisition - Narrative (Detail

Acquisition - Narrative (Details) $ in Thousands	Dec. 16, 2019USD ($)store	May 30, 2019USD ($)store	Aug. 10, 2018USD ($)store	Jan. 01, 2018USD ($)store	Dec. 31, 2020store	Dec. 31, 2019store	Dec. 31, 2018store	Dec. 31, 2017store
Business Acquisition [Line Items]
Number of owned and franchised locations | store					2,124	2,001	1,742	1,518
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
Colorado Acquisition
Business Acquisition [Line Items]
Number of owned and franchised locations | store			4
Acquisition, gross cash payments			$ 17,249
Loss on reacquired franchise rights			10
Consideration transferred			$ 17,239
Long Island Acquisition
Business Acquisition [Line Items]
Number of owned and franchised locations | store				6
Acquisition, gross cash payments				$ 28,503
Loss on reacquired franchise rights				350
Consideration transferred				$ 28,153

Acquisition - Purchase Consider

Acquisition - Purchase Consideration Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 16, 2019	May 30, 2019	Dec. 31, 2018	Aug. 10, 2018	Jan. 01, 2018
Business Acquisition [Line Items]
Goodwill	$ 227,821	$ 227,821			$ 199,513
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
Colorado Acquisition
Business Acquisition [Line Items]
Fixed assets						$ 3,873
Other assets						143
Goodwill						8,476
Liabilities assumed, including deferred revenues						(83)
Net assets acquired						17,239
Long Island Acquisition
Business Acquisition [Line Items]
Fixed assets							$ 4,672
Other assets							275
Goodwill							14,056
Liabilities assumed, including deferred revenues							(310)
Net assets acquired							28,153
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
Reacquired franchise rights | Colorado Acquisition
Business Acquisition [Line Items]
Intangible assets						4,610
Reacquired franchise rights | Long Island Acquisition
Business Acquisition [Line Items]
Intangible assets							7,640
Customer relationships | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			940
Customer relationships | Maine Acquisition
Business Acquisition [Line Items]
Intangible assets				$ 30
Customer relationships | Colorado Acquisition
Business Acquisition [Line Items]
Intangible assets						140
Customer relationships | Long Island Acquisition
Business Acquisition [Line Items]
Intangible assets							1,150
Favorable leases, net | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			1,508
Favorable leases, net | Colorado Acquisition
Business Acquisition [Line Items]
Intangible assets						$ 80
Favorable leases, net | Long Island Acquisition
Business Acquisition [Line Items]
Intangible assets							520
Reacquired area development rights | New Jersey Acquisition
Business Acquisition [Line Items]
Intangible assets			$ 90
Reacquired area development rights | Long Island Acquisition
Business Acquisition [Line Items]
Intangible assets							$ 150

Property and equipment - Schedu

Property and equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 268,397	$ 219,102
Accumulated depreciation	(107,720)	(73,621)
Total	160,677	145,481
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,341	1,341
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	57,687	51,039
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	115,619	97,977
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	8,589	8,589
Furniture & fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	23,836	19,129
Information technology and systems assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	48,552	35,419
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,615	2,192
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 10,158	$ 3,416

Property and equipment - Additi

Property and equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 36,943	$ 27,987	$ 19,540

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Rental expense		$ 24,900
Lease payments for leases signed but not yet commenced	$ 20,027
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	1 year
Renewal term (in years)	3 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	10 years
Renewal term (in years)	10 years

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease assets	$ 164,252	$ 155,633
Finance lease assets	306	309
Total lease assets	164,558	155,942
Current operating lease liabilities	19,544	16,755
Noncurrent operating lease liabilities	167,910	152,920
Noncurrent finance lease liabilities	327	333
Total lease liabilities	$ 187,781	$ 170,008
Weighted-average remaining lease term (years) - operating leases	8 years 8 months 12 days	8 years 7 months 6 days
Weighted-average discount rate - operating leases	5.10%	5.00%
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 26,255	$ 20,635
Variable lease cost	10,324	8,323
Total lease cost	$ 36,579	$ 28,958

Leases - Supplemental Disclosur

Leases - Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for lease liabilities	$ 24,091	$ 19,502
Operating assets obtained in exchange for operating lease liabilities	$ 33,140	$ 43,016

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 28,405
2022	28,803
2023	28,367
2024	26,844
2025	26,087
Thereafter	95,872
Total lease payments	234,378
Less: imputed interest	46,597
Present value of lease liabilities	$ 187,781	$ 170,008

Goodwill and intangible asset_2

Goodwill and intangible assets - Summary of Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gross carrying amount
Finite-lived intangibles	$ 211,693	$ 211,693
Total intangible assets	358,293	358,293
Accumulated amortization
Total intangible assets	(141,218)	(124,372)
Net carrying Amount
Finite-lived intangibles	70,475	87,321
Total intangible assets	217,075	233,921
Goodwill
Gross carrying amount	227,821	227,821
Accumulated amortization	0	0
Net carrying Amount	227,821	227,821	$ 199,513
Trade and brand names
Gross carrying amount
Indefinite-lived intangible	146,600	146,600
Net carrying Amount
Indefinite-lived intangible	$ 146,600	$ 146,600
Customer relationships
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	11 years	11 years
Gross carrying amount
Finite-lived intangibles	$ 174,033	$ 174,033
Accumulated amortization
Total intangible assets	(124,907)	(112,114)
Net carrying Amount
Finite-lived intangibles	$ 49,126	$ 61,919
Reacquired franchise rights
Goodwill And Intangible Assets [Line Items]
Weighted average amortization period (years)	8 years	8 years
Gross carrying amount
Finite-lived intangibles	$ 37,660	$ 37,660
Accumulated amortization
Total intangible assets	(16,311)	(12,258)
Net carrying Amount
Finite-lived intangibles	$ 21,349	$ 25,402

Goodwill and intangible asset_3

Goodwill and intangible assets - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning balance	$ 227,821	$ 199,513
Acquisitions	0	28,308
Ending balance	227,821	227,821
Franchise
Goodwill [Roll Forward]
Beginning balance	16,938	16,938
Acquisitions	0	0
Ending balance	16,938	16,938
Corporate-owned stores
Goodwill [Roll Forward]
Beginning balance	118,217	89,909
Acquisitions	0	28,308
Ending balance	118,217	118,217
Equipment
Goodwill [Roll Forward]
Beginning balance	92,666	92,666
Acquisitions	0	0
Ending balance	$ 92,666	$ 92,666

Goodwill and intangible asset_4

Goodwill and intangible assets - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)store	Dec. 31, 2019USD ($)store	Dec. 31, 2018USD ($)store	Dec. 31, 2017store
Goodwill And Intangible Assets [Line Items]
Impairment charges | $	$ 0	$ 0	$ 0
Number of owned and franchised locations | store	2,124	2,001	1,742	1,518
Amortization of intangible assets | $	$ 16,888,000	$ 16,359,000	$ 15,720,000
New Jersey Acquisition and Maine Acquisition
Goodwill And Intangible Assets [Line Items]
Number of owned and franchised locations | store		16

Goodwill and intangible asset_5

Goodwill and intangible assets - Summary of Amortization expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 16,636
2022	16,728
2023	16,558
2024	14,067
2025	3,066
Thereafter	3,420
Finite-lived intangibles	$ 70,475	$ 87,321

Long-term debt - Schedule of Lo

Long-term debt - Schedule of Long-term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 1,792,501	$ 1,735,000
Deferred financing costs, net of accumulated amortization	(23,575)	(29,995)
Total debt	1,768,926	1,705,005
Current portion of long-term debt and Variable Funding Note	17,500	17,500
Long-term debt and borrowings under Variable Funding Notes, net of current portion	1,751,426	1,687,505
2018-1 Class A-2-I notes | Senior Notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	562,063	567,813
2018-1 Class A-2-II notes | Senior Notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	610,938	617,187
2019-1 Class A-2 notes | Senior Notes
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	544,500	550,000
Variable Funding notes | Revolving Credit Facility
Debt Instrument [Line Items]
Total debt, excluding deferred financing costs	$ 75,000	$ 0

Long-term debt - Additional Inf

Long-term debt - Additional Information (Detail)	Mar. 20, 2020USD ($)	Dec. 03, 2019USD ($)	Aug. 01, 2018USD ($)extension	Aug. 31, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt issuance costs		$ 10,577,000	$ 27,133,000		$ 0	$ 10,577,000	$ 27,133,000
Restricted cash					76,322,000	42,539,000
Loss on extinguishment of debt				$ 4,570,000	0	$ 0	$ 4,570,000
Cash Held By Debt Indenture Trustee
Debt Instrument [Line Items]
Restricted cash					$ 60,314,000
Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage			0.50%
Number of additional extensions | extension			2
Interest rate after repayment date and extensions			5.00%
2018-1 Class A-2-I notes | Senior Notes
Debt Instrument [Line Items]
Interest rate			4.262%
Debt, face amount			$ 575,000,000
2018-1 Class A-2-II notes | Senior Notes
Debt Instrument [Line Items]
Interest rate			4.666%
Debt, face amount			$ 625,000,000
Variable Funding notes | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 75,000,000
Variable rate percentage					2.28%
Proceeds from issuance of debt	$ 75,000,000
Term of extension (in years)			1 year
2019-1 Class A-2 notes | Senior Notes
Debt Instrument [Line Items]
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
Interest Rate Cap | Cash Flow Hedging
Debt Instrument [Line Items]
Notional amount			$ 219,837,000

Long-term debt - Schedule of Fu

Long-term debt - Schedule of Future Annual Payments of Long-term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 17,500
2022	568,063
2023	86,750
2024	11,750
2025	591,438
Thereafter	517,000
Total	$ 1,792,501	$ 1,735,000

Derivative instruments and he_2

Derivative instruments and hedging activities - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Interest Rate Cap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate caps	$ 0	$ 0

Revenue from contract with cu_3

Revenue from contract with customers - Schedule of Contract Liabilities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Contract liabilities
Beginning Balance	$ 62,054
Revenue recognized that was included in the contract liability at the beginning of the year	(23,461)
Increase, excluding amounts recognized as revenue during the period	20,685
Ending Balance	$ 59,278

Revenue from contract with cu_4

Revenue from contract with customers - Remaining Performance Obligation (Details) $ in Thousands	Dec. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 59,278
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 26,691
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	$ 3,707
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	$ 3,567
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	$ 3,324
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]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 2,998
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]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 18,991
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction

Revenue from contract with cu_5

Revenue from contract with customers - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	$ 59,278	$ 62,054
Long-term portion of deferred revenue	32,587	34,458
Current portion of deferred revenue	26,691	27,596
Prepaid membership fees
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	6,021	7,231
Enrollment fees
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	399	915
Equipment discount
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	4,013	3,796
Annual membership fees
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	12,506	12,185
Area development and franchise fees
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	$ 36,339	$ 37,927

Revenue from contract with cu_6

Revenue from contract with customers - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Equipment deposits	$ 795	$ 3,008
Deferred revenue expected recognition period (in months)	12 months

Related party transactions - Sc

Related party transactions - Schedule of Related Party Transactions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Total revenue from related parties	$ 1,930	$ 5,674	$ 7,156
Franchise
Related Party Transaction [Line Items]
Total revenue from related parties	1,415	2,341	3,179
Equipment
Related Party Transaction [Line Items]
Total revenue from related parties	$ 515	$ 3,333	$ 3,977

Related party transactions - Ad

Related party transactions - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)store	Dec. 31, 2019USD ($)store	Dec. 31, 2018USD ($)	May 31, 2020USD ($)
Related Party Transaction [Line Items]
Initial administrative fees charged	$ 1,930	$ 5,674	$ 7,156
Number of corporate-owned stores utlilizing software | store	101	71
Number of franchise stores utlilizing software | store	599	520
Short-term loan to third party payment processor	$ 4,200			$ 8,950
Board of Directors
Related Party Transaction [Line Items]
Ownership percentage	10.50%
Area Development Agreements
Related Party Transaction [Line Items]
Deferred ADA revenue from related parties	$ 182	$ 256
Direct TSG Investors
Related Party Transaction [Line Items]
Liability payable under tax benefit obligations	71,416	53,491
Affiliated Entity | Amenity tracking compliance software
Related Party Transaction [Line Items]
Purchases from related party	196	222
Affiliated Entity | Corporate travel
Related Party Transaction [Line Items]
Expense incurred for corporate travel to a third-party company	90	190	0
Administrative Service | Planet Fitness NAF, LLC
Related Party Transaction [Line Items]
Initial administrative fees charged	$ 793	$ 2,177	$ 2,472

Stockholder's equity - Addition

Stockholder's equity - Additional Information (Detail) - USD ($)	Mar. 02, 2020	Dec. 04, 2019	Apr. 30, 2019	Nov. 14, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Nov. 05, 2019	Nov. 13, 2018	Aug. 03, 2018
Class of Stock [Line Items]
Share repurchase program, authorized amount								$ 500,000,000		$ 500,000,000
Repurchase and retirement of common stock					$ 0	$ 458,166,000	$ 342,383,000
Stock repurchased					$ 0	$ 458,166,000	$ 342,383,000
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 units held by owners (in shares)					4,839,866	885,810	1,736,020
Continuing LLC Owners
Class of Stock [Line Items]
Exchanges of Class B common stock, shares (in shares)					4,839,866	885,810	1,736,020
Number of units held by owners (in shares)					3,722,054
Percentage of economic interest					4.30%
Holdings Units
Class of Stock [Line Items]
Shares exchanged for Class A common stock					1
Class B Common Stock
Class of Stock [Line Items]
Shares exchanged for Class A common stock					1
Number of shares exchanged (in shares)					4,839,866	885,810	1,736,020
Class B Common Stock | Continuing LLC Owners
Class of Stock [Line Items]
Number of shares exchanged (in shares)					4,839,866	885,810	1,736,020
Number of units held by owners (in shares)					3,722,054
Percentage of voting power					4.30%
Class A Common Stock
Class of Stock [Line Items]
Number of stock issued during period (in shares)					4,839,866	885,810	1,736,020
Stock repurchased (in shares)						2,272,001	824,312
Dividends declared and paid					$ 0	$ 0	$ 0
Class A Common Stock | Continuing LLC Owners
Class of Stock [Line Items]
Number of stock issued during period (in shares)					4,839,866	885,810	1,736,020
Number of shares exchanged (in shares)					4,839,866	885,810
Class A Common Stock | Investor
Class of Stock [Line Items]
Number of stock issued during period (in shares)					82,821,325
Percentage of voting power					95.70%
Percentage of economic interest					95.70%
2018 ASR Agreement
Class of Stock [Line Items]
Share 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
Weighted average cost per share (in usd per share)			$ 58.46
Stock repurchased						$ 157,945,000	$ 42,090,000
2019 ASR Agreement
Class of Stock [Line Items]
Share 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 usd per share)	$ 75.82

Equity-based compensation - Add

Equity-based compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2015	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of stock options granted (in usd per share)		$ 22.51
Total unrecognized compensation expense related to unvested stock options.		$ 2,039
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, compensation expense (gain)		$ 2,313	$ 2,089
Stock options, expected recognition, weighted-average period (in years)		1 year 9 months 18 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, compensation expense (gain)		$ 2,426	1,961
Stock options, expected recognition, weighted-average period (in years)		1 year 9 months 18 days
Share based compensation, shares granted (in shares)		44,564
Unrecognized compensation expense related to unvested RSUs, including an estimate for pre-vesting forfeitures		$ 2,155
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, vest equally over a period (in years)		3 years
Share based compensation, compensation expense (gain)			$ 355
Share based compensation, shares granted (in shares)		36,538
Unrecognized compensation expense related to unvested RSUs, including an estimate for pre-vesting forfeitures		$ 0
Share based compensation, performance period (in years)		3 years
Performance Share Units | COVID-19
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, compensation expense (gain)		$ (355)
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, compensation expense (gain)		$ 402
Payroll deduction for ESPP, percent		10.00%
ESPP offering period (in months)		6 months
ESPP purchase discount, percent		85.00%
Number of shares of common stock authorized and available for issuance under the ESPP (in shares)		1,000,000
Shares purchased (in shares)		19,077
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options and awards authorized (in shares)	7,896,800
Share based compensation, vest equally over a period (in years)	10 years
Maximum | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Adjustment of quantity of awards earned for performance metrics, percent		200.00%
Minimum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, vest equally over a period (in years)		4 years
Minimum | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Adjustment of quantity of awards earned for performance metrics, percent		0.00%
Class A Common Stock | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, shares granted (in shares)		44,564

Equity-based compensation - Fai

Equity-based compensation - Fair Value of Stock Option Awards Determined on Grant Date Using Black-Scholes Valuation Model (Detail)	1 Months Ended	12 Months Ended
	Aug. 31, 2015	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)			6 years 3 months
Expected volatility, Minimum (percentage)		28.50%	28.00%
Expected volatility, Maximum (percentage)		139.80%	28.50%
Risk-free interest rate, Minimum (percentage)		0.14%	1.62%
Risk-free interest rate, Maximum (percentage)		1.67%	2.37%
Dividend yield (percentage)	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)		3 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)		6 years 3 months

Equity-based compensation - Sum

Equity-based compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Stock Options
Outstanding at beginning of period (in shares) | shares	957,125
Granted (in shares) | shares	106,064
Exercised (in shares) | shares	(76,402)
Forfeited (in shares) | shares	(21,151)
Outstanding at end of period (in shares) | shares	965,636
Vested or expected to vest (in shares) | shares	965,636
Exercisable (in shares) | shares	616,473
Weighted average exercise price
Outstanding at beginning of period (usd per share) | $ / shares	$ 26.86
Granted (usd per share) | $ / shares	63.16
Exercised (usd per share) | $ / shares	21.46
Forfeited (usd per share) | $ / shares	37.19
Outstanding at end of period (usd per share) | $ / shares	31.05
Vested or expected to vest (usd per share) | $ / shares	31.05
Exercisable (usd per share) | $ / shares	$ 23.04
Weighted average remaining contractual term (years)
Outstanding	6 years 8 months 12 days
Vested or expected to vest	6 years 8 months 12 days
Exercisable	6 years 2 months 12 days
Aggregate intrinsic value
Outstanding | $	$ 44,982
Vested or expected to vest | $	44,982
Exercisable | $	$ 33,654

Equity-based compensation - S_2

Equity-based compensation - Summary of Restricted Stock Units Activity and Performance Share Units Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Restricted Stock Units
Restricted stock units
Unvested outstanding at beginning of period (in shares) | shares	75,078
Granted (in shares) | shares	44,564
Vested (in shares) | shares	(28,317)
Forfeited (in shares) | shares	(5,294)
Unvested outstanding at end of period (in shares) | shares	86,031
Weighted average fair value
Unvested outstanding at beginning of period (in usd per share) | $ / shares	$ 51.32
Granted (in usd per share) | $ / shares	63.58
Vested (usd per share) | $ / shares	51.82
Forfeited (in usd per share) | $ / shares	53.89
Unvested outstanding at end of period (in usd per share) | $ / shares	$ 57.35
Weighted average remaining contractual term (years)	1 year 9 months 18 days
Aggregate intrinsic value | $	$ 6,679
Performance Share Units
Restricted stock units
Unvested outstanding at beginning of period (in shares) | shares	31,996
Granted (in shares) | shares	36,538
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(2,905)
Unvested outstanding at end of period (in shares) | shares	65,629
Weighted average fair value
Unvested outstanding at beginning of period (in usd per share) | $ / shares	$ 70.69
Granted (in usd per share) | $ / shares	64.35
Vested (usd per share) | $ / shares	0
Forfeited (in usd per share) | $ / shares	68.96
Unvested outstanding at end of period (in usd per share) | $ / shares	$ 67.24
Weighted average remaining contractual term (years)	0 years
Aggregate intrinsic value | $	$ 0

Earnings per share - Additional

Earnings per share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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 | 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 (shares)	162,740	57,273	143,006
Class B Common Stock | 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 (shares)	548	755	131
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 (shares)	6,292,971	8,739,015	10,275,077
Class A Common Stock | 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 (shares)	528,464
Class A Common Stock | 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 (shares)	41,223

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								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator
Net income (loss)	$ 9,682	$ (3,284)	$ (31,985)	$ 10,383	$ 34,255	$ 29,692	$ 39,827	$ 31,639	$ (15,204)	$ 135,413	$ 103,162
Less: net income (loss) attributable to non-controlling interests									(213)	17,718	15,141
Net income (loss) attributable to Planet Fitness, Inc.	$ 8,690	$ (3,111)	$ (29,177)	$ 8,607	$ 29,665	$ 25,777	$ 34,844	$ 27,409	$ (14,991)	$ 117,695	$ 88,021
Stock options
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (shares)									0	599,425	417,264
RSUs and PSUs
Effect of dilutive securities:
Weighted-average shares outstanding adjustment (shares)									0	43,135	22,618
Class A Common Stock
Denominator
Weighted-average shares of Class A common stock outstanding - basic (shares)									80,303,277	82,976,620	87,235,021
Effect of dilutive securities:
Weighted-average shares of Class A common stock outstanding - diluted (shares)									80,303,277	83,619,180	87,674,903
Earnings (loss) per share of Class A common stock - basic (usd per share)	$ 0.11	$ (0.04)	$ (0.36)	$ 0.11	$ 0.37	$ 0.31	$ 0.41	$ 0.33	$ (0.19)	$ 1.42	$ 1.01
Earnings (loss) per share of Class A common stock - diluted (usd per share)	$ 0.11	$ (0.04)	$ (0.36)	$ 0.11	$ 0.36	$ 0.31	$ 0.41	$ 0.32	$ (0.19)	$ 1.41	$ 1

Income taxes - Schedule of Inco

Income taxes - Schedule of Income Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (13,382)	$ 171,970	$ 128,861
Foreign	(1,135)	1,207	2,943
Total income (loss) before the provision for income taxes	$ (14,517)	$ 173,177	$ 131,804

Income taxes - Schedule of Prov

Income taxes - Schedule of Provision (Benefit) for Income Taxes Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ (6,938)	$ 7,359	$ 178
State	256	8,280	3,586
Foreign	156	500	945
Total current tax expense	(6,526)	16,139	4,709
Deferred:
Federal	2,769	23,289	22,757
State	4,530	(1,346)	946
Foreign	(86)	(318)	230
Total deferred tax expense	7,213	21,625	23,933
Provision for income taxes	$ 687	$ 37,764	$ 28,642

Income taxes - Schedule of Reco

Income taxes - Schedule of Reconciliation of U.S. Statutory Income Tax Rate to Company's Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	21.00%	21.00%	21.00%
State and local taxes, net of federal benefit	5.70%	6.20%	5.90%
State rate change impact on deferred taxes	(37.40%)	(4.10%)	(3.40%)
Federal rate change impact on deferred taxes	0.00%	0.00%	0.00%
Tax benefit arrangement liability adjustment	8.60%	0.70%	0.80%
Foreign tax rate differential	(1.00%)	0.00%	0.20%
Withholding taxes and other	(0.30%)	0.00%	(0.30%)
Reserve for uncertain tax position	0.00%	0.10%	(0.20%)
Income attributable to non-controlling interests	(1.30%)	(2.10%)	(2.30%)
Effective tax rate	(4.70%)	21.80%	21.70%

Income taxes - Additional infor

Income taxes - Additional information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)agreementshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)
Tax Credit Carryforward [Line Items]
Effective tax rate	(4.70%)	21.80%	21.70%
Net deferred tax asset	$ 510,319	$ 411,177
Deferred income taxes	511,200	412,293
Federal net operating loss carryforwards	141,200
Liability related to uncertain tax positions	$ 420	420
Liability for unrecognized tax benefits		120
Income tax examination, settlement			$ 2,625
Unrecognized tax benefit and related indemnification asset			2,967
Released provision for income taxes			342
Expense for indemnification asset			342
Number of tax receivable agreements | agreement	2
Applicable tax savings (in percentage)	85.00%
Percentage of remaining tax savings (in percentage)	15.00%
Other income (expense) reflecting change in tax benefit obligation	$ 5,949	(5,966)	$ (4,765)
Deferred tax asset	569,392	456,781
Deferred tax liability	59,073	45,604
Tax benefit obligation	488,200	427,216
Continuing LLC Owners
Tax Credit Carryforward [Line Items]
Decrease in deferred tax assets	3,490	190
Deferred tax asset	109,823	20,362
Deferred tax liability	$ 93,554	$ 17,016
Class A Common Stock | Continuing LLC Owners
Tax Credit Carryforward [Line Items]
Number of shares exchanged (in shares) | shares	4,839,866	885,810

Income taxes - Schedule of Defe

Income taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Deferred revenue	$ 5,829	$ 5,343
Goodwill and intangible assets	479,627	410,585
Net operating loss	34,580	0
Right-of-use assets	46,061	38,675
Other	3,295	2,178
Deferred tax assets	569,392	456,781
Deferred tax liabilities:
Prepaid expenses	(2,591)	(1,021)
Property and equipment	(16,429)	(10,363)
Lease liabilities	(40,053)	(34,220)
Total deferred tax liabilities	(59,073)	(45,604)
Total deferred tax assets and liabilities	510,319	411,177
Reported as:
Deferred income taxes - non-current assets	511,200	412,293
Deferred income taxes - non-current liabilities	(881)	(1,116)
Total deferred tax assets and liabilities	$ 510,319	$ 411,177

Income taxes - Summary Of Chang

Income taxes - Summary Of Changes In Unrecognized Tax Positions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 420	$ 300
Increase related to current year tax positions	0	405
Decrease related to prior year tax positions	0	(285)
Balance at end of year	$ 420	$ 420

Income taxes - Schedule of Futu

Income taxes - Schedule of Future Payments Under Tax Benefit Arrangements (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
2021	$ 0
2022	9,742
2023	32,359
2024	38,296
2025	47,385
Thereafter	360,418
Total	$ 488,200	$ 427,216

Commitments and contingencies -

Commitments and contingencies - Additional Information (Detail) - USD ($)	Sep. 03, 2020	Dec. 31, 2020	Dec. 31, 2019
Commitment And Contingencies [Line Items]
Litigation settlement expense recorded as other loss		$ 3,800,000
Guarantor obligations, maximum period		10 years
Maximum obligation of guarantees of leases and debt		$ 7,842,000	$ 10,309,000
Accrued potential obligation recorded under guaranty arrangement		0	$ 0
Advertising Purchase Commitment
Commitment And Contingencies [Line Items]
Purchase commitments		32,589,000
Equipment Purchase Commitment
Commitment And Contingencies [Line Items]
Purchase commitments		10,199,000
Pending Litigation | Civil Action Brought By Former Employee
Commitment And Contingencies [Line Items]
Damages sought	$ 5,576,000
Estimate of possible loss		2,010,000
Loss contingency, receivable		$ 2,010,000

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Percentage of employer matching contribution	100.00%
Maximum percentage of employee contribution	4.00%
Total employer matching contributions expense	$ 910	$ 986	$ 832

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2020USD ($)segment	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment									3
Number of operating segments | segment									0
Revenue	$ 133,771,000	$ 105,383,000	$ 40,233,000	$ 127,231,000	$ 191,510,000	$ 166,815,000	$ 181,661,000	$ 148,817,000	$ 406,618,000	$ 688,803,000	$ 572,898,000
Franchise
Segment Reporting Information [Line Items]
Revenue									206,156,000	277,582,000	224,140,000
Franchise | International
Segment Reporting Information [Line Items]
Revenue									3,312,000	6,207,000	4,634,000
Franchise | Placement Services
Segment Reporting Information [Line Items]
Revenue									6,918,000	17,755,000	11,502,000
Corporate-owned stores
Segment Reporting Information [Line Items]
Revenue									117,142,000	159,697,000	138,599,000
Corporate-owned stores | International
Segment Reporting Information [Line Items]
Revenue									1,968,000	4,389,000	$ 4,425,000
Long-lived assets	$ 828,000				$ 1,039,000				828,000	$ 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								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 133,771	$ 105,383	$ 40,233	$ 127,231	$ 191,510	$ 166,815	$ 181,661	$ 148,817	$ 406,618	$ 688,803	$ 572,898
Total Segment EBITDA									118,495	271,322	213,129
Corporate and other
Segment Reporting Information [Line Items]
Total Segment EBITDA									(33,242)	(46,190)	(43,753)
Franchise
Segment Reporting Information [Line Items]
Revenue									206,156	277,582	224,140
Franchise | Operating segments
Segment Reporting Information [Line Items]
Total Segment EBITDA									114,968	192,281	152,571
Franchise | US
Segment Reporting Information [Line Items]
Revenue									202,844	271,375	219,506
Franchise | International
Segment Reporting Information [Line Items]
Revenue									3,312	6,207	4,634
Corporate-owned stores
Segment Reporting Information [Line Items]
Revenue									117,142	159,697	138,599
Corporate-owned stores | Operating segments
Segment Reporting Information [Line Items]
Total Segment EBITDA									23,672	65,613	56,704
Corporate-owned stores | US
Segment Reporting Information [Line Items]
Revenue									115,174	155,308	134,174
Corporate-owned stores | International
Segment Reporting Information [Line Items]
Revenue									1,968	4,389	4,425
Equipment
Segment Reporting Information [Line Items]
Revenue									83,320	251,524	210,159
Equipment | Operating segments
Segment Reporting Information [Line Items]
Total Segment EBITDA									13,097	59,618	47,607
Equipment | US
Segment Reporting Information [Line Items]
Revenue									82,331	251,524	210,159
Equipment | International
Segment Reporting Information [Line Items]
Revenue									$ 989	$ 0	$ 0

Segments - Reconciliation of To

Segments - Reconciliation of Total Segment EBITDA to Income Before Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting [Abstract]
Total Segment EBITDA									$ 118,495	$ 271,322	$ 213,129
Depreciation and amortization									53,832	44,346	35,260
Other Nonoperating Income (Expense)									4,903	(6,107)	(6,175)
Income from operations	$ 32,172	$ 16,042	$ (22,721)	$ 34,267	$ 61,571	$ 53,061	$ 65,266	$ 53,185	59,760	233,083	184,044
Interest expense, net									(79,180)	(53,799)	(46,065)
Other income (expense), net									4,903	(6,107)	(6,175)
Income (loss) before income taxes									$ (14,517)	$ 173,177	$ 131,804

Segments - Summary of Company's

Segments - Summary of Company's Assets by Reportable Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 1,849,737	$ 1,717,190
Operating segments | Franchise
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	174,812	193,504
Operating segments | Corporate-owned stores
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	468,628	471,234
Operating segments | Equipment
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	171,201	197,656
Unallocated
Segment Reporting, Asset Reconciling Item [Line Items]
Total consolidated assets	$ 1,035,096	$ 854,796

Segments - Summary of Company_2

Segments - Summary of Company's Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated goodwill	$ 227,821	$ 227,821	$ 199,513
Franchise
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated goodwill	16,938	16,938	16,938
Corporate-owned stores
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated goodwill	118,217	118,217	89,909
Equipment
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated goodwill	$ 92,666	$ 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	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Number Of Stores [Roll Forward]
Stores operated at beginning of period	2,001	1,742	1,518
New stores opened	130	261	230
Stores debranded, sold or consolidated	(7)	(2)	(6)
Stores operated at end of period	2,124	2,001	1,742
COVID-19
Number Of Stores [Roll Forward]
Number of stores reopened	1,760
Franchisee-owned stores
Number Of Stores [Roll Forward]
Stores operated at beginning of period	1,903	1,666	1,456
New stores opened	125	255	226
Stores debranded, sold or consolidated	(7)	(18)	(16)
Stores operated at end of period	2,021	1,903	1,666
Franchisee-owned stores | COVID-19
Number Of Stores [Roll Forward]
Number of stores reopened	1,682
Corporate-owned stores
Number Of Stores [Roll Forward]
Stores operated at beginning of period	98	76	62
New stores opened	5	6	4
Stores acquired from franchisees	0	16	10
Stores operated at end of period	103	98	76
Corporate-owned stores | COVID-19
Number Of Stores [Roll Forward]
Number of stores reopened	78

Quarterly financial data - Sche

Quarterly financial data - Schedule of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information [Line Items]
Revenue	$ 133,771	$ 105,383	$ 40,233	$ 127,231	$ 191,510	$ 166,815	$ 181,661	$ 148,817	$ 406,618	$ 688,803	$ 572,898
Income (loss) from operations	32,172	16,042	(22,721)	34,267	61,571	53,061	65,266	53,185	59,760	233,083	184,044
Net income (loss)	9,682	(3,284)	(31,985)	10,383	34,255	29,692	39,827	31,639	(15,204)	135,413	103,162
Net income (loss) attributable to Planet Fitness, Inc.	$ 8,690	$ (3,111)	$ (29,177)	$ 8,607	$ 29,665	$ 25,777	$ 34,844	$ 27,409	$ (14,991)	$ 117,695	$ 88,021
Class A Common Stock
Earnings (loss) per share:
Class A - Basic (usd per share)	$ 0.11	$ (0.04)	$ (0.36)	$ 0.11	$ 0.37	$ 0.31	$ 0.41	$ 0.33	$ (0.19)	$ 1.42	$ 1.01
Class A - Diluted (usd per share)	$ 0.11	$ (0.04)	$ (0.36)	$ 0.11	$ 0.36	$ 0.31	$ 0.41	$ 0.32	$ (0.19)	$ 1.41	$ 1

Valuation and Qualifying Acco_2

Valuation and Qualifying Accounts (Detail) - Allowance for doubtful accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 111	$ 84	$ 32
Provision for (recovery of) doubtful accounts, net	(74)	87	19
Write-offs and other	(30)	(60)	33
Balance at End of Period	$ 7	$ 111	$ 84