Attached files
file | filename |
---|---|
8-K - 8-K - DOMINOS PIZZA INC | d719094d8k.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: Quarterly Collection Period Ending: Quarterly Payment Date: | December 30, 2013 March 23, 2014 April 25, 2014 |
Debt Service Coverage Ratios and Senior ABS Leverage |
||||||||||||
Senior ABS Leverage | Quarterly DSCR | |||||||||||
Current Period |
4.55 | x | 3.32 | x | ||||||||
|
|
|
|
|||||||||
One Period Prior |
4.51 | x | 3.46 | x | ||||||||
|
|
|
|
|||||||||
Two Periods Prior |
4.56 | x | 3.28 | x | ||||||||
|
|
|
|
|||||||||
Three Periods Prior |
4.61 | x | 3.55 | x | ||||||||
|
|
|
|
|||||||||
System Performance Domestic |
||||||||||||
Franchise | Company-Owned | Total Domestic | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
4,596 | 390 | 4,986 | |||||||||
Store Openings during Quarterly Collection Period |
14 | | 14 | |||||||||
Store Transfers during Quarterly Collection Period |
14 | (14 | ) | | ||||||||
Permanent Store Closures during Quarterly Collection Period |
(9 | ) | | (9 | ) | |||||||
|
|
|
|
|
|
|||||||
Net Change in Open Stores during Quarterly Collection Period |
19 | (14 | ) | 5 | ||||||||
Open Stores at end of Quarterly Collection Period |
4,615 | 376 | 4,991 | |||||||||
International |
||||||||||||
Franchise | Company-Owned | Total International |
||||||||||
Open Stores at end of prior Quarterly Collection Period |
5,900 | | 5,900 | |||||||||
Store Openings during Quarterly Collection Period |
109 | | 109 | |||||||||
Permanent Store Closures during Quarterly Collection Period |
(12 | ) | | (12 | ) | |||||||
|
|
|
|
|
|
|||||||
Net Change in Open Stores during Quarterly Collection Period |
97 | | 97 | |||||||||
Open Stores at end of Quarterly Collection Period |
5,997 | | 5,997 | |||||||||
Franchise | Company-Owned | International | ||||||||||
Same-Store Sales Growth for Quarterly Collection Period |
5.2 | % | 1.5 | % | 7.4 | % | ||||||
Potential Events |
||||||||||||
Material Concern | ||||||||||||
i. Potential Rapid Amortization Event |
No | |||||||||||
ii. Potential Manager Termination Event |
No | |||||||||||
Cash Trapping |
||||||||||||
Commenced | Date of Commencement |
|||||||||||
i. a. Partial Cash Trapping Period |
No | N/A | ||||||||||
|
|
|
|
|||||||||
b. Full Cash Trapping Period |
No | N/A | ||||||||||
|
|
|
|
|||||||||
ii. Series 2012-1 Cash Trapping Percentage during Quarterly Collection Period |
N/A | |||||||||||
|
|
|||||||||||
iii Series 2012-1 Cash Trapping Percentage following current Quarterly Payment Date |
N/A | |||||||||||
|
|
|||||||||||
iv. Series 2012-1 Cash Trapping Percentage during prior Quarterly Collection Period |
N/A | |||||||||||
|
|
|||||||||||
v. Series 2012-1 Partial Cash Trapping Release Event |
N/A | |||||||||||
|
|
|||||||||||
vi. Series 2012-1 Full Cash Trapping Release Event |
N/A | |||||||||||
|
|
|||||||||||
Occurrence Dates |
||||||||||||
Commenced | Date of Commencement |
|||||||||||
i. Rapid Amortization Event |
No | N/A | ||||||||||
|
|
|
|
|||||||||
ii. Default |
No | N/A | ||||||||||
|
|
|
|
|||||||||
iii. Event of Default |
No | N/A | ||||||||||
|
|
|
|
|||||||||
iv. Manager Termination Event |
No | N/A | ||||||||||
|
|
|
|
|||||||||
Non-Amortization Test |
||||||||||||
Commenced | Date of Commencement |
|||||||||||
i. Non-Amortization Period |
No | N/A | ||||||||||
|
|
|
|
|||||||||
Extension Periods |
||||||||||||
Commenced | Date of Commencement |
|||||||||||
i. Series 2012-1 Class A-1 first renewal period |
No | N/A | ||||||||||
|
|
|
|
|||||||||
ii. Series 2012-1 Class A-1 second renewal period |
No | N/A | ||||||||||
|
|
|
|
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: Quarterly Collection Period Ending: Quarterly Payment Date: | December 30, 2013 March 23, 2014 April 25, 2014 |
Allocation of Funds |
||||
1. Outstanding Notes and Reserve Account Balances as of Prior Quarterly Payment Date: |
||||
i. Outstanding Principal Balances |
||||
a. Advances Under Series 2012-1 Class A-1 Notes |
$ | | ||
|
|
|||
b. Series 2012-1 Class A-2 Notes |
$ | 1,527,750,000.00 | ||
|
|
|||
c. Senior Subordinated Notes |
$ | | ||
|
|
|||
d. Subordinated Notes |
$ | | ||
|
|
|||
ii. Reserve Account Balances |
||||
a. Available Senior Notes Interest Reserve Account Amount (1) |
$ | 20,937,977.50 | ||
|
|
|||
b. Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | ||
|
|
|||
c. Available Cash Trap Reserve Account Amount (1) |
$ | | ||
|
|
|||
2. Retained Collections for Current Quarterly Payment Date: |
||||
i. Franchisee Payments |
||||
a. Domestic Continuing Franchise Fees |
$ | 98,146,714.45 | ||
|
|
|||
b. International Continuing Franchise Fees |
$ | 32,840,885.35 | ||
|
|
|||
c. Initial Franchise Fees |
$ | | ||
|
|
|||
d. Other Franchise Fees |
$ | | ||
|
|
|||
e. PULSE Maintenance Fees |
$ | 72.50 | ||
|
|
|||
f. PULSE License Fees |
$ | 383,057.50 | ||
|
|
|||
g. Technology Fees |
5,108,255.40 | |||
|
|
|||
h. Franchisee Insurance Proceeds |
$ | | ||
|
|
|||
i. Other Franchisee Payments |
$ | | ||
|
|
|||
ii. Company-Owned Stores License Fees |
$ | 4,438,008.96 | ||
|
|
|||
iii. Third-Party License Fees |
$ | | ||
|
|
|||
iv. Product Purchase Payments |
$ | 310,612,766.75 | ||
|
|
|||
v. Co-Issuers Insurance Proceeds |
$ | | ||
|
|
|||
vi. Asset Disposition Proceeds |
$ | | ||
|
|
|||
vii. Excluded Amounts |
$ | 2,473,443.94 | ||
|
|
|||
viii. Other Collections |
$ | 153,612.00 | ||
|
|
|||
ix. Investment Income |
$ | 3,507.35 | ||
|
|
|||
x. HoldCo L/C Agreement Fee Income |
$ | 89,179.62 | ||
|
|
|||
Less: |
||||
xiii. Excluded Amounts |
$ | 54,742,282.86 | ||
|
|
|||
a. Advertising Fees |
$ | 52,268,838.92 | ||
|
|
|||
b. Company-Owned Store Advertising Fees |
$ | | ||
|
|
|||
c. Third-Party Matching Expenses |
$ | 2,473,443.94 | ||
|
|
|||
xiv. Product Purchase Payments |
$ | 310,612,766.75 | ||
|
|
|||
xiv. Bank Account Expenses |
$ | 40,978.28 | ||
|
|
|||
Plus: |
||||
xvi. Aggregate Weekly Distributor Profit Amount |
$ | 25,554,101.70 | ||
|
|
|||
xvii. Retained Collections Contributions |
$ | | ||
|
|
|||
xviii.Total Retained Collections |
$ | 114,407,577.63 | ||
|
|
|||
3. Adjusted Net Cash Flow for Current Quarterly Payment Date: |
||||
i. Retained Collections for Quarterly Collection Period |
$ | 114,407,577.63 | ||
|
|
|||
Less: |
||||
ii. Servicing Fees, Liquidation Fees and Workout Fees |
$ | 76,803.44 | ||
|
|
|||
iii. Securitization Entities Operating Expenses paid during Quarterly Collection Period |
$ | 7,469.00 | ||
|
|
|||
iv. Weekly Manager Fee Amounts paid during Quarterly Collection Period |
$ | 13,158,000.00 | ||
|
|
|||
v. Manager Advances Reimbursement Amounts |
$ | 17,724,409.72 | ||
|
|
|||
vi. PULSE Maintenance Fees |
$ | 72.50 | ||
|
|
|||
vii. Technology Fees |
$ | 5,108,255.40 | ||
|
|
|||
viii. Administrative Expenses |
$ | 25,000.00 | ||
|
|
|||
vix. Investment Income |
$ | 3,507.35 | ||
|
|
|||
vx. Retained Collections Contributions, if applicable, received during Quarterly Collection Period |
$ | | ||
|
|
|||
viii. Net Cash Flow for Quarterly Collection Period |
$ | 78,304,060.22 | ||
|
|
|||
ix. Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period |
$ | 932,191.19 | ||
|
|
|||
x. Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year |
91 | |||
|
|
|||
xi. Adjusted Net Cash Flow for Quarterly Collection Period |
$ | 84,829,398.58 | ||
|
|
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: Quarterly Collection Period Ending: Quarterly Payment Date: | December 30, 2013 March 23, 2014 April 25, 2014 |
4. Debt Service / Payments to Noteholders for Current Quarterly Payment Date: |
||||
i. Required Interest on Senior and Senior Subordinated Notes |
||||
Series 2012-1 Class A-1 Quarterly Interest |
$ | 69,816.47 | ||
|
|
|||
Series 2012-1 Class A-2 Quarterly Interest |
$ | 19,477,440.50 | ||
|
|
|||
Series 2012-1 Senior Subordinated Quarterly Interest |
$ | | ||
|
|
|||
ii. Required Principal on Senior and Senior Subordinated Notes |
||||
Series 2012-1 Class A-2 Quarterly Scheduled Principal |
$ | 5,906,250.00 | ||
|
|
|||
Series 2012-1 Senior Subordinated Scheduled Principal |
$ | | ||
|
|
|||
iii. Other |
||||
Series 2012-1 Class A-1 Quarterly Commitment Fees |
$ | 72,965.93 | ||
|
|
|||
iv. Total Debt Service |
$ | 25,526,472.90 | ||
|
|
|||
v. Other Payments to Noteholders Relating to Notes |
||||
Series 2012-1 Subordinated Quarterly Interest |
$ | | ||
|
|
|||
Series 2012-1 Subordinated Quarterly Scheduled Principal |
$ | | ||
|
|
|||
Series 2012-1 Class A-1 Quarterly Contingent Additional Interest |
$ | | ||
|
|
|||
Series 2012-1 Class A-2 Quarterly Contingent Additional Interest |
$ | | ||
|
|
|||
Senior Subordinated Quarterly Contingent Additional Interest |
$ | | ||
|
|
|||
Subordinated Quarterly Contingent Additional Interest |
$ | | ||
|
|
|||
5. Aggregate Weekly Allocations to Distribution Accounts for Current Quarterly Payment Date: |
||||
i. All available deposits in Series 2012-1 Class A-1 Distribution Account |
$ | 167,782.40 | ||
|
|
|||
ii. All available deposits in Series 2012-1 Class A-2 Distribution Account |
$ | 25,383,690.50 | ||
|
|
|||
iii. All available deposits in Senior Subordinated Distribution Account |
$ | | ||
|
|
|||
iv. All available deposits in Subordinated Distribution Account |
$ | | ||
|
|
|||
v. Total on Deposit in Distribution Accounts |
$ | 25,551,472.90 | ||
|
|
|||
6. Distributions for Current Quarterly Payment Date: |
||||
Series 2012-1 Class A-1 Distribution Account |
||||
i. Payment of interest and fees related to Series 2012-1 Class A-1 Notes |
$ | 167,782.40 | ||
|
|
|||
ii. Indemnification and Real Estate Disposition Proceeds Payments to reduce commitments under Series 2012-1 Class A-1 Notes |
$ | | ||
|
|
|||
iii. Principal payments to Series 2012-1 Class A-1 Notes |
$ | | ||
|
|
|||
iv. Payment of Series 2012-1 Class A-1 Notes Breakage Amounts |
$ | | ||
|
|
|||
Series 2012-1 Class A-2 Distribution Account |
||||
i. Payment of interest related to Series 2012-1 Class A-2 Notes |
$ | 19,477,440.50 | ||
ii. Indemnification and Real Estate Disposition Proceeds payments to Series 2012-1 Class A-2 Notes |
$ | | ||
|
|
|||
iii. Principal payment to Series 2012-1 Class A-2 Notes |
$ | 5,906,250.00 | ||
|
|
|||
iv. Make-Whole Premium related to Series 2012-1 Class A-2 Notes |
$ | | ||
|
|
|||
Senior Subordinated Distribution Account |
||||
i. Payment of interest related to Senior Subordinated Notes |
$ | | ||
|
|
|||
ii. Indemnification and Real Estate Disposition Proceeds payments to Senior Subordinated Notes |
$ | | ||
|
|
|||
iii. Principal payment to Senior Subordinated Notes |
$ | | ||
|
|
|||
iv. Make-Whole Premium related to Senior Subordinated Notes |
$ | | ||
|
|
|||
Subordinated Distribution Account |
||||
i. Payment of interest related to Subordinated Notes |
$ | | ||
|
|
|||
ii. Indemnification and Real Estate Disposition Proceeds payments to Subordinated Notes |
$ | | ||
|
|
|||
iii. Principal payment to Subordinated Notes |
$ | | ||
|
|
|||
iv. Make-Whole Premium related to Subordinated Notes |
$ | | ||
|
|
|||
Total Allocations from Distribution Accounts |
$ | 25,551,472.90 | ||
|
|
|||
7. Senior Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
||||
i. Deposits into Senior Notes Interest Reserve Account during Quarterly Collection Period |
$ | | ||
|
|
|||
ii. Less draws on / releases from Available Senior Notes Interest Reserve Account Amount |
$ | 77,017.50 | ||
|
|
|||
iii. Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount |
$ | (77,017.50 | ) | |
|
|
|||
8. Senior Subordinated Notes Interest Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
||||
i. Deposits into Senior Subordinated Notes Interest Reserve Account during Quarterly Collection Period |
$ | | ||
|
|
|||
ii. Less draws on Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | ||
|
|
|||
iii. Total Increase (Reduction) of Available Senior Subordinated Notes Interest Reserve Account Amount |
$ | | ||
|
|
|||
9. Cash Trap Reserve Account Deposits, Draws and Releases as of Current Quarterly Payment Date: |
||||
i. Deposits into Cash Trap Reserve Account during Quarterly Collection Period |
$ | | ||
|
|
|||
ii. Less draws on Available Cash Trap Reserve Account Amount |
$ | | ||
|
|
|||
iii. Less Cash Trapping Release Amount |
$ | | ||
|
|
|||
iv. Total Increase (Reduction) of Available Cash Trap Reserve Account Amount |
$ | | ||
|
|
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: Quarterly Collection Period Ending: Quarterly Payment Date: | December 30, 2013 March 23, 2014 April 25, 2014 |
10. Real Estate Disposition Proceeds |
||||
i. Aggregate Real Estate Disposition Proceeds as of Prior Quarterly Payment Date |
$ | | ||
|
|
|||
ii. Aggregate Real Estate Disposition Proceeds as of Current Quarterly Payment Date |
$ | | ||
|
|
|||
11. Scheduled Principal Catch-Up Amounts |
||||
i. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Prior Quarterly Payment Date |
$ | | ||
|
|
|||
ii. Series 2012-1 Class A-2 aggregate Scheduled Principal Catch-Up Amounts as of Current Quarterly Payment Date |
$ | | ||
|
|
|||
12. Outstanding Balances as of Current Quarterly Payment Date (after giving effect to payments to be made on such date): |
||||
i. Series 2012-1 Class A-1 Notes |
$ | 42,268,716.65 | ||
|
|
|||
ii. Series 2012-1 Class A-2 Notes |
$ | 1,521,843,750.00 | ||
|
|
|||
iii. Senior Subordinated Notes |
$ | | ||
|
|
|||
iv. Subordinated Notes |
$ | | ||
|
|
|||
v. Reserve account balances: |
||||
a. Available Senior Notes Interest Reserve Account Amount |
$ | 20,860,960.00 | ||
|
|
|||
b. Available Senior Subordinate Notes Interest Reserve Account Amount |
$ | | ||
|
|
|||
c. Available Cash Trap Reserve Account Amount |
$ | | ||
|
|
IN WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly Noteholders Statement this 5/1/2014
Dominos Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto,
by: | ||
Jeffrey D. LawrenceTreasurer |