Lifetime Fitness 2012 Annual Report Download - page 25

19
If it becomes necessary to protect or defend our intellectual property rights or if we infringe on the intellectual
property rights of others, we may become involved in costly litigation or be required to pay royalties or fees.
We may have disputes with third parties to enforce our intellectual property rights, protect our trademarks, determine
the validity and scope of the proprietary rights of others or defend ourselves from claims of infringement, invalidity
or unenforceability. We may incur substantial costs and a diversion of resources as a result of such disputes, even if
we win. In the event that we do not win, we may have to enter into royalty or licensing agreements, we may be
prevented from using the marks within certain markets in connection with goods and services that are material to our
business or we may be unable to prevent a third party from using our marks. We cannot assure you that we would be
able to reach an agreement on reasonable terms, if at all. In particular, although we own a federal trademark
registration for use of the LIFE TIME FITNESS® mark in the field of health and fitness centers, we are aware of
entities in certain locations around the country that use LIFE TIME FITNESS, LIFE TIME or other similar marks in
connection with goods and services related to health and fitness. The rights of these entities in such marks may
predate our rights. Accordingly, if we open any centers in the areas in which these parties operate, we may be
required to pay royalties or may be prevented from using the mark in such areas.
Item 1B. Unresolved Staff Comments.
None.
Item 2. Properties.
Our corporate headquarters, located in Chanhassen, Minnesota next to our Chanhassen large format center, is a
105,000 square foot, free-standing, three-story building that we own.
As of February 28, 2013, we operated 105 centers in 22 states and one Canadian province, of which we leased 30
sites, are party to long-term ground leases for nine sites, owned 65 sites and were a member of a joint-venture that
owned one site. We expect to open three large format centers in 2013 on sites we own in various markets, all of
which are currently under construction. Excluding renewal options, the terms of leased centers, including ground
leases, expire at various dates from 2013 through 2049. The majority of our leases have renewal options and a few
give us the right to purchase the property. The table below contains information about our open centers:
Location Center Format (1) Square Feet (2) Date Opened (3)
105 Life Time Athletic Atlanta, GA Large/Current 116,848 May-2012
104 South Tulsa (Tulsa), OK Large/Current 114,441 Apr-2012
103 Mississauga (Toronto), ON Large/Current 146,674 Mar-2012
102 Life Time Tennis Atlanta, GA Other 22,703 Jan-2012
101 Fishers (Indianapolis), IN (4) Other 32,000 Dec-2011
100 Matthews (Charlotte), NC (4) Other 36,594 Dec-2011
99 University (Charlotte), NC (4) Other 35,230 Dec-2011
98 Upper Arlington (Columbus), OH (4) Other 35,055 Dec-2011
97 Pickerington (Columbus), OH (4) Other 27,000 Dec-2011
96 North Meridian (Indianapolis), IN (4) Other 44,000 Dec-2011
95 Apex (Raleigh), NC (4) Other 35,244 Dec-2011
94 Plantation Point (Raleigh), NC (4) Other 32,000 Dec-2011
93 Six Forks (Raleigh), NC (4) Other 45,306 Dec-2011
92 Summerlin (Las Vegas), NV Large/Current 143,286 May-2011
91 Colorado Springs, CO Large/Current 112,110 May-2011
90 Syosset (Long Island), NY Large/Current 112,110 Jan-2011
89 Centennial (Denver), CO Large/Current 129,182 Dec-2010
88 Uptown (Mpls./St. Paul), MN Other 12,490 Aug-2010
87 Kingwood (Houston), TX Other 50,085 May-2010
86 Lenexa (Kansas City), KS Large/Current 112,110 Mar-2010
85 Pima Crossing (Phoenix), AZ Other 20,620 Feb-2010