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8-K - FORM 8-K - DOMINOS PIZZA INC | d352380d8k.htm |
EXHIBIT 99.1
Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: |
March 15, 2012 | |
Quarterly Collection Period Ending: |
March 25, 2012 | |
Quarterly Payment Date: |
April 25, 2012 |
Debt Service Coverage Ratios and Senior ABS Leverage
Senior ABS Leverage | Quarterly DSCR | |||||||
Current Period |
5.37 | x | 2.91 | x | ||||
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One Period Prior |
x | x | ||||||
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Two Periods Prior |
x | x | ||||||
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Three Periods Prior |
x | x | ||||||
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System Performance
Domestic
Franchise | Company-Owned | Total Domestic | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
4,513 | 394 | 4,907 | |||||||||
Store Openings during Quarterly Collection Period |
13 | | 13 | |||||||||
Store Transfers during Quarterly Collection Period |
6 | (6 | ) | | ||||||||
Permanent Store Closures during Quarterly Collection Period |
(21 | ) | (1 | ) | (22 | ) | ||||||
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Net Change in Open Stores during Quarterly Collection Period |
4,511 | 387 | 4,898 | |||||||||
Open Stores at end of Quarterly Collection Period |
International
Franchise | Company-Owned | Total International | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
4,835 | | 4,835 | |||||||||
Store Openings during Quarterly Collection Period |
86 | | 86 | |||||||||
Permanent Store Closures during Quarterly Collection Period |
(9 | ) | | (9 | ) | |||||||
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Net Change in Open Stores during Quarterly Collection Period |
4,912 | | 4,912 | |||||||||
Open Stores at end of Quarterly Collection Period |
| | |
Franchise | Company-Owned | International | ||||||||||
Same-Store Sales Growth for Quarterly Collection Period |
2.0 | % | 1.6 | % | 4.7 | % |
Potential Events
Material Concern | ||||||
i. |
Potential Rapid Amortization Event |
No | ||||
ii. |
Potential Manager Termination Event |
No |
Cash Trapping
Date of | ||||||||||||||
Commenced | Commencement | |||||||||||||
i. |
a. | Partial Cash Trapping Period |
No | N/A | ||||||||||
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b. |
Full Cash Trapping Period |
No | N/A | |||||||||||
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ii. |
Series 2012-1 Cash Trapping Percentage during Quarterly Collection Period |
N/A | ||||||||||||
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iii |
Series 2012-1 Cash Trapping Percentage following current Quarterly Payment Date |
N/A | ||||||||||||
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iv. |
Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection Period |
N/A | ||||||||||||
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v. |
Series 2012-1 Partial Cash Trapping Release Event |
N/A | ||||||||||||
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vi. |
Series 2012-1 Full Cash Trapping Release Event |
N/A | ||||||||||||
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Occurrence Dates
Date of | ||||||||||
Commenced | Commencement | |||||||||
i. |
Rapid Amortization Event |
No | N/A | |||||||
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ii. |
Default |
No | N/A | |||||||
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iii. |
Event of Default |
No | N/A | |||||||
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iv. |
Manager Termination Event |
No | N/A | |||||||
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Non-Amortization Test
Date of | ||||||||||
Commenced | Commencement | |||||||||
i. |
Non-Amortization Period |
No | N/A | |||||||
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Extension Periods
Date of | ||||||||||
Commenced | Commencement | |||||||||
i. |
Series 2012-1 Class A-1 first renewal period |
No | N/A | |||||||
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ii. |
Series 2012-1 Class A-1 first second period |
No | N/A | |||||||
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Allocation of Funds
1. | Outstanding Notes and Reserve Account Balances as of Prior Quarterly Payment Date: |
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i. | Outstanding Principal Balances |
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a. | Advances Under Series 2012-1 Class A-1 Notes |
$ | | |||||||||||
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b. | Series 2012-1 Class A-2 Notes |
$ | 1,575,000,000.00 | |||||||||||
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c. | Senior Subordinated Notes |
$ | | |||||||||||
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d. | Subordinated Notes |
$ | | |||||||||||
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ii. | Reserve Account Balances |
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a. | Available Senior Notes Interest Reserve Account Amount (1) |
$ | 21,538,000.00 | |||||||||||
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b. | Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | |||||||||||
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c. | Available Cash Trap Reserve Account Amount (1) |
$ | | |||||||||||
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2. | Retained Collections for Current Quarterly Payment Date: |
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i. | Franchisee Payments |
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a. | Domestic Continuing Franchise Fees |
$ | 13,809,871.42 | |||||||||||
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b. | International Continuing Franchise Fees |
$ | 2,533,295.67 | |||||||||||
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c. | Initial Franchise Fees |
$ | | |||||||||||
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d. | Other Franchise Fees |
$ | | |||||||||||
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e. | PULSE Maintenance |
$ | | |||||||||||
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f. | PULSE License Fees |
$ | 235,600.00 | |||||||||||
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g. | Technology Fees |
$ | | |||||||||||
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h. | Franchisee Insurance Proceeds |
$ | | |||||||||||
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i. | Other Franchisee Payments |
$ | | |||||||||||
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ii. | Company-Owned Stores License Fees |
$ | 656,629.21 | |||||||||||
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iii. | Third-Party License Fees |
$ | | |||||||||||
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iv. | Product Purchase Payments |
$ | 45,110,506.91 | |||||||||||
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v. | Co-Issuers Insurance Proceeds |
$ | | |||||||||||
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vi. | Asset Disposition Proceeds |
$ | | |||||||||||
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vii. | Excluded Amounts |
$ | (2,398,045.10 | ) | ||||||||||
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viii. | Other Collections |
$ | | |||||||||||
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ix. | Investment Income |
$ | 955.59 | |||||||||||
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x. | HoldCo L/C Agreement Fee Income |
$ | 42,744.25 | |||||||||||
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xi. | Servicer Advances |
$ | | |||||||||||
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xii. | Manager Advances |
$ | | |||||||||||
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Less: | ||||||||||||||
xi. | Excluded Amounts |
$ | 4,415,729.52 | |||||||||||
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a. | Advertising Fees |
$ | 6,813,774.62 | |||||||||||
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b. | Company-Owned Store Advertising Fees |
$ | | |||||||||||
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c. | Third-Party Matching Expenses |
$ | (2,398,045.10 | ) | ||||||||||
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xii. | Product Purchase Payments |
$ | 45,110,506.91 | |||||||||||
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xiii. | Bank Account Expenses |
$ | 13,313.69 | |||||||||||
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Plus: | ||||||||||||||
xiv. | Aggregate Weekly Distributor Profit Amount |
$ | 3,289,281.55 | |||||||||||
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xv. | Retained Collections Contributions |
$ | | |||||||||||
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xvi. | Total Retained Collections |
$ | 13,741,289.38 | |||||||||||
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3. | Adjusted Net Cash Flow for Current Quarterly Payment Date: |
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i. | Retained Collections for Quarterly Collection Period |
$ | 13,741,289.38 | |||||||||||
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Less: | ||||||||||||||
ii. | Servicing Fees, Liquidation Fees and Workout Fees |
$ | 8,750.00 | |||||||||||
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iii. | Securitization Entities Operating Expenses paid during Quarterly Collection Period |
$ | 25,844.25 | |||||||||||
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iv. | Weekly Manager Fee Amounts paid during Quarterly Collection Period |
$ | 1,689,285.71 | |||||||||||
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v. | Manager Advances Reimbursement Amounts |
$ | | |||||||||||
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vi. | PULSE Maintenance Fees |
$ | | |||||||||||
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vii. | Technology Fees |
$ | | |||||||||||
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viii. | Administrative Expenses |
$ | 9,166.67 | |||||||||||
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ix. | Investment Income |
$ | 955.59 | |||||||||||
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x. | Retained Collections Contributions, if applicable, received during Quarterly Collection Period |
$ | | |||||||||||
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xi. | Net Cash Flow for Quarterly Collection Period |
$ | 12,007,287.16 | |||||||||||
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xii. | Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period |
$ | 857,663.37 | |||||||||||
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xiii. | Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year |
91 | ||||||||||||
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xiv. | Adjusted Net Cash Flow for Quarterly Collection Period |
$ | 78,047,366.53 | |||||||||||
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1. | Amounts calculated as of the close of business on the last Business Day of the preceding Quarterly Collection Period. |
Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: |
March 15, 2012 | |
Quarterly Collection Period Ending: |
March 25, 2012 | |
Quarterly Payment Date: |
April 25, 2012 |
4. Debt Service / Payments to Noteholders for Current Quarterly Payment Date: |
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i. Required Interest on Senior and Senior Subordinated Notes |
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Series 2012-1 Class A-1 Quarterly Interest |
$ | 135,954.29 | ||
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Series 2012-1 Class A-2 Quarterly Interest |
$ | 9,128,000.00 | ||
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Series 2012-1 Senior Subordinated Quarterly Interest |
$ | | ||
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ii. Required Principal on Senior and Senior Subordinated Notes |
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Series 2012-1 Class A-2 Quarterly Scheduled Principal |
$ | 5,906,250.00 | ||
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Series 2012-1 Senior Subordinated Scheduled Principal |
$ | | ||
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iii. Other |
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Series 2012-1 Class A-1 Quarterly Commitment Fees |
$ | 28,469.91 | ||
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iv. Total Debt Service |
$ | 15,198,674.20 | ||
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v. Other Payments to Noteholders Relating to Notes |
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Series 2012-1 Subordinated Quarterly Interest |
$ | | ||
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Series 2012-1 Subordinated Quarterly Scheduled Principal |
$ | | ||
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Series 2012-1 Class A-1 Quarterly Contingent Additional Interest |
$ | | ||
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Series 2012-1 Class A-2 Quarterly Contingent Additional Interest |
$ | | ||
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Senior Subordinated Quarterly Contingent Additional Interest |
$ | | ||
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Subordinated Quarterly Contingent Additional Interest |
$ | | ||
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5. Aggregate Weekly Allocations to Distribution Accounts for Current Quarterly Payment Date: |
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i. All available deposits in Series 2012-1 Class A-1 Distribution Account |
$ | 173,590.87 | ||
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ii. All available deposits in Series 2012-1 Class A-2 Distribution Account |
$ | 15,034,250.00 | ||
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iii. All available deposits in Senior Subordinated Distribution Account |
$ | | ||
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iv. All available deposits in Subordinated Distribution Account |
$ | | ||
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v. Total on Deposit in Distribution Accounts |
$ | 15,207,840.87 | ||
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6. Distributions for Current Quarterly Payment Date: |
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Series 2012-1 Class A-1 Distribution Account |
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i. Payment of interest and fees related to Series 2012-1 Class A-1 Notes |
$ | 173,590.87 | ||
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ii. Indemnification and Real Estate Disposition Proceeds Payments to reduce commitments under Series 2012-1 Class A-1 Notes |
$ | | ||
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iii. Principal payments to Series 2012-1 Class A-1 Notes |
$ | | ||
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iv. Payment of Series 2012-1 Class A-1 Notes Breakage Amounts |
$ | | ||
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Series 2012-1 Class A-2 Distribution Account |
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i. Payment of interest related to Series 2012-1 Class A-2 Notes |
$ | 9,128,000.00 | ||
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ii. Indemnification and Real Estate Disposition Proceeds payments to Series 2012-1 Class A-2 Notes |
$ | | ||
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iii. Principal payment to Series 2012-1 Class A-2 Notes |
$ | 5,906,250.00 | ||
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iv. Make-Whole Premium related to Series 2012-1 Class A-2 Notes |
$ | | ||
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Senior Subordinated Distribution Account |
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i. Payment of interest related to Senior Subordinated Notes |
$ | | ||
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ii. Indemnification and Real Estate Disposition Proceeds payments to Senior Subordinated Notes |
$ | | ||
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iii. Principal payment to Senior Subordinated Notes |
$ | | ||
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iv. Make-Whole Premium related to Senior Subordinated Notes |
$ | | ||
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Subordinated Distribution Account |
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i. Payment of interest related to Subordinated Notes |
$ | | ||
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ii. Indemnification and Real Estate Disposition Proceeds payments to Subordinated Notes |
$ | | ||
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iii. Principal payment to Subordinated Notes |
$ | | ||
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iv. Make-Whole Premium related to Subordinated Notes |
$ | | ||
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Total Allocations from Distribution Accounts |
$ | 15,207,840.87 | ||
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7. Senior Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
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i. Deposits into Senior Notes Interest Reserve Account during Quarterly Collection Period |
$ | | ||
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ii. Less draws on Available Senior Notes Interest Reserve Account Amount |
$ | | ||
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iii. Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount |
$ | | ||
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8. Senior Subordinated Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
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i. Deposits into Senior Subordinated Notes Interest Reserve Account during Quarterly Collection Period |
$ | | ||
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ii. Less draws on Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | ||
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iii. Total Increase (Reduction) of Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | ||
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9. Cash Trap Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
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i. Deposits into Cash Trap Reserve Account during Quarterly Collection Period |
$ | | ||
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ii. Less draws on Available Cash Trap Reserve Account Amount |
$ | | ||
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iii. Less Cash Trapping Release Amount |
$ | | ||
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iv. Total Increase (Reduction) of Available Cash Trap Reserve Account Amount |
$ | | ||
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Dominos Pizza Master Issuer LLC
Dominos SPV Canadian Holding Company Inc.
Dominos Pizza Distribution LLC
Dominos IP Holder LLC
Quarterly Noteholders Statement
Quarterly Collection Period Starting: |
March 15, 2012 | |
Quarterly Collection Period Ending: |
March 25, 2012 | |
Quarterly Payment Date: |
April 25, 2012 |
10.Real Estate Disposition Proceeds |
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i. Aggregate Real Estate Disposition Proceeds as of Prior Quarterly Payment Date |
$ | | ||
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ii. Aggregate Real Estate Disposition Proceeds as of Current Quarterly Payment Date |
$ | | ||
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11.Scheduled Principal Catch-Up Amounts |
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i. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Prior Quarterly Payment Date |
$ | | ||
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ii. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Current Quarterly Payment Date |
$ | | ||
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12.Outstanding Balances as of Current Quarterly Payment Date (after giving effect to payments to be made on such date): |
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i. Series 2012-1 Class A-1 Notes |
$ | | ||
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ii. Series 2012-1 Class A-2 Notes |
$ | 1,569,093,750.00 | ||
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iii. Senior Subordinated Notes |
$ | | ||
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iv. Subordinated Notes |
$ | | ||
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v. Reserve account balances: |
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a. Available Senior Notes Interest Reserve Account Amount |
$ | 21,538,000.00 | ||
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b. Available Senior Subordinate Notes Interest Reserve Account Amount |
$ | | ||
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c. Available Cash Trap Reserve Account Amount |
$ | | ||
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IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Noteholders' Statement
this 4/20/2012
Dominos Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto,
by: |