Attached files
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8-K - FORM 8-K - DOMINOS PIZZA INC | d383791d8k.htm |
Exhibit 99.1
Confidential
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 26, 2012 | |||||||
Quarterly Collection Period Ending: | June 17, 2012 | |||||||
Quarterly Payment Date: | July 25, 2012 |
Debt Service Coverage Ratios and Senior ABS Leverage
Senior ABS Leverage | Quarterly DSCR | |||||||
Current Period |
4.85 x | 3.21 x | ||||||
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One Period Prior |
5.37 x | 2.91 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 |
4,511 | 387 | 4,898 | |||||||||
Store Openings during Quarterly Collection Period |
8 | | 8 | |||||||||
Store Transfers during Quarterly Collection Period |
(5 | ) | | (5 | ) | |||||||
Permanent Store Closures during Quarterly Collection Period |
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Net Change in Open Stores during Quarterly Collection Period |
3 | | 3 | |||||||||
Open Stores at end of Quarterly Collection Period |
4,514 | 387 | 4,901 | |||||||||
International |
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Franchise | Company-Owned | Total International | ||||||||||
Open Stores at end of prior Quarterly Collection Period |
4,912 | | 4,912 | |||||||||
Store Openings during Quarterly Collection Period |
120 | | 120 | |||||||||
Permanent Store Closures during Quarterly Collection Period |
(9 | ) | | (9 | ) | |||||||
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Net Change in Open Stores during Quarterly Collection Period |
111 | | 111 | |||||||||
Open Stores at end of Quarterly Collection Period |
5,023 | | 5,023 | |||||||||
Franchise | Company-Owned | International | ||||||||||
Same-Store Sales Growth for Quarterly Collection Period |
1.9 | % | 0.3 | % | 5.7 | % |
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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Confidential
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 26, 2012 | |||||||
Quarterly Collection Period Ending: | June 17, 2012 | |||||||
Quarterly Payment Date: | July 25, 2012 |
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 |
$ | 1,569,093,750.00 | ||
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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 |
$ | 82,432,082.21 | ||
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b. International Continuing Franchise Fees |
$ | 24,055,881.81 | ||
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c. Initial Franchise Fees |
$ | | ||
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d. Other Franchise Fees |
$ | | ||
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e. PULSE Maintenance Fees |
$ | 1,841,649.53 | ||
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f. PULSE License Fees |
$ | 101,550.00 | ||
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g. Technology Fees |
2,290,481.52 | |||
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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 |
$ | 4,030,346.75 | ||
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iii. Third-Party License Fees |
$ | | ||
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iv. Product Purchase Payments |
$ | 264,897,529.02 | ||
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v. Co-Issuers Insurance Proceeds |
$ | | ||
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vi. Asset Disposition Proceeds |
$ | | ||
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vii. Excluded Amounts |
$ | 188,506.36 | ||
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viii. Other Collections |
$ | 122,250.97 | ||
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ix. Investment Income |
$ | 6,420.68 | ||
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x. HoldCo L/C Agreement Fee Income |
$ | 359,051.76 | ||
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xi. Servicer Advances |
$ | | ||
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xii. Manager Advances |
$ | | ||
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Less: |
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xi. Excluded Amounts |
$ | 41,220,709.81 | ||
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a. Advertising Fees |
$ | 41,032,203.45 | ||
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b. Company-Owned Store Advertising Fees |
$ | | ||
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c. Third-Party Matching Expenses |
$ | 188,506.36 | ||
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xii. Product Purchase Payments |
$ | 264,897,529.02 | ||
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xiii. Bank Account Expenses |
$ | 44,203.31 | ||
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Plus: |
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xiv. Aggregate Weekly Distributor Profit Amount |
$ | 22,259,291.38 | ||
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xv. Retained Collections Contributions |
$ | | ||
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xvi. Total Retained Collections |
$ | 96,422,599.85 | ||
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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 |
$ | 96,422,599.85 | ||
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Less: |
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ii. Servicing Fees, Liquidation Fees and Workout Fees |
$ | 70,609.22 | ||
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iii. Securitization Entities Operating Expenses paid during Quarterly Collection Period |
$ | 17,900.70 | ||
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iv. Weekly Manager Fee Amounts paid during Quarterly Collection Period |
$ | 12,761,538.46 | ||
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v. Manager Advances Reimbursement Amounts |
$ | | ||
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vi. PULSE Maintenance Fees |
$ | 1,841,649.53 | ||
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vii. Technology Fees |
$ | 2,290,481.52 | ||
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viii. Administrative Expenses |
$ | 25,000.00 | ||
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vix. Investment Income |
$ | 6,420.68 | ||
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vx. Retained Collections Contributions, if applicable, received during Quarterly Collection Period |
$ | | ||
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viii. Net Cash Flow for Quarterly Collection Period |
$ | 79,408,999.74 | ||
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ix. Net Cash Flow for Quarterly Collection Period / Number of Days in Quarterly Collection Period |
$ | 945,345.24 | ||
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x. Multiplied by 91 if 52 week fiscal year or 92.75 if 53 week fiscal year |
91 | |||
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xi. Adjusted Net Cash Flow for Quarterly Collection Period |
$ | 86,026,416.39 | ||
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1. | Amounts calculated as of the close of business on the last Business Day of the preceding Quarterly Collection Period. |
2
Confidential
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 26, 2012 | |||||||
Quarterly Collection Period Ending: | June 17, 2012 | |||||||
Quarterly Payment Date: | July 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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Series2012-1 Class A-1 Quarterly Interest |
$ | 364,451.44 | ||
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Series2012-1 Class A-2 Quarterly Interest |
$ | 20,460,982.50 | ||
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Series2012-1 Senior Subordinated Quarterly Interest |
$ | | ||
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ii. Required Principal on Senior and Senior Subordinated Notes |
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Series2012-1 Class A-2 Quarterly Scheduled Principal |
$ | 5,906,250.00 | ||
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Series2012-1 Senior Subordinated Scheduled Principal |
$ | | ||
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iii. Other |
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Series2012-1 Class A-1 Quarterly Commitment Fees |
$ | 76,157.20 | ||
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iv. Total Debt Service |
$ | 26,807,841.14 | ||
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v. Other Payments to Noteholders Relating to Notes |
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Series2012-1 Subordinated Quarterly Interest |
$ | | ||
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Series2012-1 Subordinated Quarterly Scheduled Principal |
$ | | ||
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Series2012-1 Class A-1 Quarterly Contingent Additional Interest |
$ | | ||
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Series2012-1 Class A-2 Quarterly Contingent Additional Interest |
$ | | ||
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SeniorSubordinated Quarterly Contingent Additional Interest |
$ | | ||
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SubordinatedQuarterly 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 |
$ | 465,608.64 | ||
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ii. All available deposits in Series 2012-1 Class A-2 Distribution Account |
$ | 26,367,232.50 | ||
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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 |
$ | 26,832,841.14 | ||
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6. Distributions for Current Quarterly Payment Date: |
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Series2012-1 Class A-1 Distribution Account |
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i. Payment of interest and fees related to Series 2012-1 Class A-1 Notes |
$ | 465,608.64 | ||
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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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Series2012-1 Class A-2 Distribution Account |
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i. Payment of interest related to Series 2012-1 Class A-2 Notes |
$ | 20,460,982.50 | ||
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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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SeniorSubordinated 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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SubordinatedDistribution 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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TotalAllocations from Distribution Accounts |
$ | 26,367,232.50 | ||
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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 |
$ | 83,730.00 | ||
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iii. Total Increase (Reduction) of Available Senior Notes Interest Reserve Account Amount |
$ | (83,730.00 | ) | |
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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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3
Confidential
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 26, 2012 | |||||||
Quarterly Collection Period Ending: | June 17, 2012 | |||||||
Quarterly Payment Date: | July 25, 2012 |
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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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 |
$ | 1,563,187,500.00 | ||
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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 |
$ | 21,454,270.00 | ||
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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 |
Dominos Pizza LLC as Manager on behalf of the Master Issuer and certain subsidiaries thereto, |
by: |
4