Lifetime Fitness 2013 Annual Report Download - page 7

1
FORWARD-LOOKING STATEMENTS
This Annual Report contains “forward-looking” statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can usually be identified by the use of terminology such as
“anticipate,” “believe,” “continue,” “could,” “estimate,” “evolve,” “expect,” “forecast,” “intend,” “looking ahead,”
“may,” “opinion,” “plan,” “possible,” “potential,” “project,” “should,” “will” and similar words or expressions.
Forward-looking statements are subject to certain risks and uncertainties that could cause the Company's actual
results in the future to differ materially from its historical results and those presently anticipated or projected.
Among these factors are attracting and retaining members, risks related to our debt levels and debt covenants, the
ability to access our existing credit facility and obtain additional financing, strains on our business from continued
and future growth, including potential acquisitions and other strategic initiatives, risks related to maintenance and
security of our data, potential recognition of compensation expense related to performance-based stock grants,
competition from other health and fitness centers, identifying and acquiring suitable sites for new centers, delays in
opening new centers and other factors set forth in Part I, Section 1A of this Annual Report entitled “Risk Factors.”
Consequently, no forward-looking statement can be guaranteed and actual results may vary materially.
We intend to take advantage of the protective provisions of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 regarding our forward-looking statement. We caution investors not to place undue
reliance on any such forward-looking statements, which speak only as of the date on which such statements were
made. We undertake no obligation to update such statements to reflect events or circumstances arising after such
date.
PART I
Item 1. Business.
Company Overview
Life Time Fitness, Inc. ("Life Time") is The Healthy Way of Life Company. We help organizations, communities and
individuals achieve their total health objectives, athletic aspirations and fitness goals by engaging in their areas of
interest, or discovering new passions, both inside and outside of Life Time's distinctive, resort-like sports,
professional fitness, family recreation and spa destinations, most of which operate 24 hours a day, seven days a
week. Our Healthy Way of Life approach enables our customers to achieve success by providing the best places,
people and programs of exceptional quality and value. As of February 28, 2014, we operated 109 centers under the
LIFE TIME FITNESS® and LIFE TIME ATHLETIC® brands primarily in suburban locations in 29 major markets
in the United States and Canada.
We believe our centers provide a desirable and unique experience for our members, resulting in a high number of
memberships per center. We directly operate and manage all of our centers both to optimize and deliver the high-
quality member experience we expect. Of our 109 centers, we consider 88 to be of our large format design. Among
these 88 centers, we consider 64 to be of our current model design. Although the size and design of our centers may
vary, our business strategy, member-focused approach and core operating processes generally remain consistent
across our centers. Our current model centers target 6,500 to 10,500 memberships by offering, on average, 114,000
square feet of multi-use sports and athletic, professional fitness, family recreation, spa amenities and programs and
services in a resort-like environment.
The breadth of our programs allows us to help members achieve their goals while connecting and engaging them in
their areas of passion. By offering best-in-class programming - both inside and outside of our centers - along with a
trained and certified team of Life Time employees who lead each program, we help members achieve their goals.
Life Time programs include a wide range of interest areas, such as group fitness, yoga, swimming, running,
racquetball, squash, tennis, Pilates, martial arts, kids activities and camps, adult activities and leagues, rock
climbing, cycling, basketball, personal training, weight loss and nutrition initiatives, spa, medi-spa and chiropractic
services. Life Time program offerings may vary by location.