Lifetime Fitness 2013 Annual Report Download - page 65

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LIFE TIME FITNESS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Table amounts in thousands, except share and per share data)
59
Changes in Accumulated Other Comprehensive Income by Component — The following table presents information
about accumulated other comprehensive income (loss) by component (net of tax):
Gains
(Losses) on
Cash Flows
Hedge
Foreign
Currency
Translation
Adjustments
Accumulated
Other
Comprehensive
Loss
Balance at December 31, 2011 $ (1,788) $ (805) $ (2,593)
Other comprehensive income (1,843)(365)(2,208)
Balance at December 31, 2012 (3,631)(1,170)(4,801)
Other comprehensive income 1,374 (2,188)(814)
Balance at December 31, 2013 $ (2,257) $ (3,358) $ (5,615)
Use of Estimates — The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenues and expenses during the reporting period. Ultimate results could
differ from those estimates. In recording transactions and balances resulting from business operations, we use
estimates based on the best information available. We use estimates for such items as depreciable lives, probability
of meeting certain performance targets, tax provisions and deferred personal training revenue. We also use estimates
for calculating the amortization period for deferred enrollment fee revenue and associated direct costs, which are
based on the historical estimated average membership life. We revise the recorded estimates when better information
is available, facts change or we can determine actual amounts. These revisions can affect our consolidated operating
results.
Supplemental Cash Flow Information — Decreases (increases) in operating assets and increases (decreases) in
operating liabilities are as follows:
For the Year Ended December 31,
2013 2012 2011
Accounts receivable $ 685 $ (2,211) $ (565)
Income tax receivable (6,698)(5,026) 4,894
Center operating supplies and inventories (5,555)(3,093)(3,423)
Prepaid expenses and other current assets 3,190 5,022 (9,150)
Deferred membership origination costs 3,329 2,172 1,322
Accounts payable (3,986) 10,160 3,324
Accrued expenses 10,404 12,568 8,853
Deferred revenue (5,918) 3,108 1,988
Deferred rent liability 6,473 (1,428) 3,040
Other liabilities 709 1,727 (6)
Changes in operating assets and liabilities $ 2,633 $ 22,999 $ 10,277