11 unchanged sentences
Holders of our Class B common stock are not entitled to participate in any dividends declared by our board of directors.
−Removed: Additionally, our ability to pay any cash dividends on our Class A common stock is limited by restrictions on the ability of FAH, LLC and our other subsidiaries to pay dividends or make distributions under the terms of our New Credit Facilities.
−Removed: Furthermore, because we are a holding company, our ability to pay cash dividends on our Class A common stock depends on our receipt of cash distributions from FAH, LLC and, through FAH, LLC, cash distributions and dividends from our other direct and indirect wholly owned subsidiaries.
Any future determination as to the declaration and payment of dividends, if any, will be at the discretion of our board of directors, subject to compliance with contractual restrictions and covenants in the agreements governing our current and future indebtedness.
Any such determination will also depend upon our business prospects, results of operations, financial condition, cash requirements and availability and other factors that our board of directors may deem relevant.
−Removed: FAH, LLC paid cash tax distributions to its members during the years ended December 31, 2019, 2018 and 2017 of $53.8 million (of which $29.9 million was paid to Funko, Inc.
−Removed: and $23.9 million was paid to continuing equity owners), $26.9 million (of which $6.5 million was paid to Funko, Inc.
−Removed: and $20.4 million was paid to continuing equity owners) and $23.7 million, respectively.
−Removed: Additionally, FAH, LLC paid a special distribution to its members during the year ended December 31, 2017 of $49.2 million (of which $49.0 million consisted of cash and $0.2 million consisted of a reduction in interest and principal under loans to certain members of management).
Stock Performance Graph
6 unchanged sentences
Russell 2000 Consumer Discretionary 100.00 108.40 141.97 122.60 155.65
−Removed: SELECTED FINANCIAL DATA
−Removed: The following tables present the selected historical consolidated financial and other data for Funko, Inc.
−Removed: The selected consolidated statements of operations and cash flows data for the years ended December 31, 2019, 2018 and 2017 and the selected consolidated balance sheets data as of December 31, 2019 and 2018 are derived from the audited consolidated financial statements contained in Part II, Item 8 of this Annual Report on Form 10-K.
−Removed: Our selected consolidated balance sheet data as of December 31, 2017 and 2016 our selected consolidated financial data set forth below for the period from October 31, 2015 through December 31, 2015 (Successor 2015 Period) and the period from January 1, 2015 through October 30, 2015 (Predecessor 2015 Period) are derived from our consolidated financial statements not included elsewhere herein.
−Removed: Subsequent to the IPO and related reorganization transactions, Funko, Inc.
−Removed: has been a holding company whose principal asset is its equity interest in FAH, LLC.
−Removed: As the sole managing member of FAH, LLC, Funko, Inc.
−Removed: operates and controls all of the business and affairs of FAH, LLC, and through FAH, LLC, conducts its business.
−Removed: As a result, the Company consolidates FAH, LLC’s financial results and reports a non-controlling interest related to the common units not owned by Funko, Inc.
−Removed: Such consolidation has been reflected for all periods presented.
−Removed: Our selected historical consolidated financial and other data does not reflect what our financial position and results of operations would have been had we been a separate, stand-alone public company during those periods.
−Removed: Our selected historical consolidated financial and other data may not be indicative of our future results of operations or future cash flows.
−Removed: You should read the information set forth below in conjunction with our historical consolidated financial statements and the notes to those statements, Item 1A.
−Removed: – “Risk Factors” and Item 7.
−Removed: – “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Form 10-K.
−Removed: Year Ended December 31,
−Removed: 2019 2018 2017 2016
−Removed: (In thousands, except per share amounts)
−Removed: Consolidated Statements of Operations Data:
−Removed: $ 795,122 $ 686,073 $ 516,084 $ 426,717 $ 56,565 $ 217,491
−Removed: Cost of sales (exclusive of depreciation and amortization shown separately below)
−Removed: 512,580 430,746 317,267 280,396 44,485 131,621
−Removed: Selling, general, and
−Removed: administrative expenses 193,803 155,321 120,944 77,525 13,894 37,145
−Removed: Acquisition transaction costs
−Removed: — 28 3,641 1,140 7,559 13,301
−Removed: Depreciation and amortization
−Removed: 42,126 39,116 31,975 23,509 3,370 5,723
−Removed: Total operating expenses
−Removed: 748,509 625,211 473,827 382,570 69,308 187,790
−Removed: Income (loss) from operations
−Removed: 46,613 60,862 42,257 44,147 (12,743) 29,701
−Removed: Interest expense, net
−Removed: 14,342 21,739 30,636 17,267 2,818 2,202
−Removed: Loss on extinguishment
−Removed: of debt — 4,547 5,103 — — —
−Removed: Other expense (income), net
−Removed: (25) 4,082 (734) — — —
−Removed: Income (loss) before income taxes
−Removed: 32,296 30,494 7,252 26,880 (15,561) 27,499
−Removed: Income tax expense
−Removed: 4,476 5,432 1,266 — — —
−Removed: Net income (loss)
−Removed: 27,820 25,062 5,986 26,880 (15,561) 27,499
−Removed: net income attributable to non-controlling interests
−Removed: 16,095 17,599 2,047 — — —
−Removed: Net income (loss) attributable to
−Removed: $ 11,725 $ 7,463 $ 3,939 $ 26,880 $ (15,561) $ 27,499
−Removed: Earnings per share of Class A common stock (1) :
−Removed: $ 0.38 $ 0.31 $ 0.04
−Removed: $ 0.36 $ 0.29 $ 0.04
−Removed: Consolidated Statements of Cash Flows Data:
−Removed: Net cash provided by operating
−Removed: activities $ 90,765 $ 49,991 $ 23,837 $ 49,468 $ 14,110 $ 8,538
−Removed: Net cash used in investing
−Removed: activities $ (48,633) $ (27,501) $ (65,215) $ (22,105) $ (244,421) $ (10,043)
−Removed: Net cash provided by (used in) financing activities
−Removed: $ (28,340) $ (15,046) $ 43,012 $ (45,613) $ 244,456 $ 11,390
−Removed: Selected Other Data:
−Removed: $ 88,764 $ 91,349 $ 69,863 $ 67,656 $ (9,373) $ 35,424
−Removed: Adjusted EBITDA (2)
−Removed: $ 123,037 $ 113,540 $ 90,031 $ 96,960 $ 13,170 $ 61,996
−Removed: 2019 2018 2017 2016 2015
−Removed: Consolidated Balance Sheets Data:
−Removed: (In thousands)
−Removed: Cash and cash equivalents $ 25,229 $ 13,486 $ 7,728 $ 6,161 $ 24,411
−Removed: Total assets $ 796,467 $ 666,340 $ 634,078 $ 522,237 $ 505,330
−Removed: Total debt (3)
−Removed: $ 242,323 $ 247,297 $ 233,899 $ 217,753 $ 169,846
−Removed: Total operating lease liabilities (4)
−Removed: $ 72,936 $ — $ — $ — $ —
−Removed: Total members' / stockholders' equity $ 305,144 $ 293,254 $ 281,292 $ 217,377 $ 243,556
−Removed: (1) Basic and diluted earnings per share of Class A common stock is applicable only for periods after the Company’s IPO.
−Removed: See Note 20, Earnings per Share of the notes to our consolidated financial statements.
−Removed: (2) EBITDA and Adjusted EBITDA are supplemental measures of our performance that are not required by, or presented in accordance with, U.S.
−Removed: EBITDA and Adjusted EBITDA are not measurements of our financial performance under U.S.
−Removed: GAAP and should not be considered as an alternative to net income (loss) or any other performance measure derived in accordance with U.S.
−Removed: See “Non-GAAP Financial Measures” in Part II, Item 7 of this Form 10-K for additional information and a reconciliation to the most directly comparable U.S.
−Removed: GAAP financial measure.
−Removed: (3) Total debt consists of borrowing under our Former Senior Secured Credit Facilities and New Credit Facilities, as applicable, net of unamortized discount costs as of December 31, 2019, 2018, 2017, 2016 and 2015 of $3.8 million, $4.8 million, $5.3 million, $6.4 million and $5.2 million, respectively.
−Removed: (4) The Company adopted Accounting Standards Codification Topic 842, Leases on January 1, 2019 by recognizing and measuring leases at the adoption date with a cumulative effect of initially applying the guidance recognized at the date of initial application.
−Removed: Comparative information has not been restated and continues to be reported under the standards in effect for those periods.
−Removed: See Note 2, Significant Accounting Policies of the notes to our consolidated financial statements.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.