Ashford hospitality trust, inc. (AHT)
Income statement / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenue
Revenue from Contract with Customer, Excluding Assessed Tax

354,656

374,237

415,148

358,718

343,488

355,930

389,164

342,207

341,566

353,325

390,670

353,709

341,670

371,931

410,670

367,772

352,877

364,516

369,338

250,235

190,368

201,457

208,163

194,861

207,022

242,024

258,539

231,942

237,629

224,195

240,778

217,055

203,502

214,587

230,099

211,790

202,155

217,639

Rental income from operating leases

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,333

1,304

1,484

1,220

1,185

1,454

Advisory services revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,458

3,127

3,945

2,194

1,047

0

0

0

-

-

-

-

-

-

-

-

-

-

Interest income from notes receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

349

346

Expenses
Hotel operating expenses:
Total hotel operating expenses

233,586

238,909

251,693

228,486

223,880

225,036

234,995

216,671

218,747

226,571

235,381

226,602

223,707

234,553

247,104

233,035

229,761

232,055

224,556

153,872

123,245

127,898

135,788

120,093

135,171

155,102

156,733

147,516

155,939

143,143

149,815

139,685

128,800

141,835

144,438

137,860

134,946

140,760

Property taxes, insurance and other

19,979

21,972

21,762

20,397

18,992

20,774

20,230

18,359

18,286

18,194

18,766

18,333

18,380

17,172

19,293

18,612

18,134

17,997

17,576

11,594

9,541

10,421

8,948

9,589

10,560

12,474

11,663

12,248

11,445

11,487

10,138

11,709

10,132

12,297

11,769

10,887

12,298

12,313

Depreciation and amortization

66,408

67,906

67,511

67,178

65,922

64,923

64,566

63,047

61,351

60,135

60,547

64,698

61,452

60,170

60,079

62,162

61,189

58,741

52,616

37,864

29,631

28,338

26,532

26,152

29,585

32,777

32,842

32,480

32,880

33,558

33,477

33,656

31,663

33,776

33,027

32,777

33,027

32,906

Impairment charges

27,067

0

6,533

0

21,748

-27

19

1,660

8,415

1,785

0

0

22,511

-4,922

116

111

39,134

111

-19,840

106

105

105

104

101

100

101

99

96

10,602

-5,066

-95

-92

9,589

-92

-4,316

-340

694

-1,188

Gain (loss) on insurance settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,905

-

-

-

Transaction costs

0

0

2

0

0

0

9

2

3

0

8

3

-124

124

-18

95

402

392

4,959

499

9

533

83

0

-

126

1,170

-

-

0

0

-

-2

27

406

-1,224

-

-

Advisory services fee

15,083

15,964

16,281

16,304

16,161

12,805

23,079

17,077

13,717

14,612

14,229

10,641

19,434

11,948

12,076

10,903

11,196

10,788

11,472

9,567

4,533

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Corporate, general and administrative

3,179

2,410

2,917

2,601

2,481

3,090

3,231

2,129

2,452

2,412

3,254

5,170

1,940

1,968

2,785

1,673

2,578

3,772

3,120

4,840

9,953

15,104

19,451

12,735

10,141

13,465

14,699

14,516

11,022

10,851

11,930

10,247

10,540

9,094

11,005

13,883

7,700

8,323

Costs and Expenses

365,330

347,161

366,699

334,966

349,175

326,601

346,129

318,945

322,924

323,709

332,185

325,447

337,910

330,857

341,203

326,369

323,148

323,634

334,139

218,130

176,802

182,189

190,698

168,468

185,115

213,843

217,008

206,664

211,099

193,973

205,265

195,205

180,910

196,937

194,424

193,843

188,665

193,114

Gain (loss) on sale of assets and hotel properties

23,203

2,362

328

233

81

-9

412

-9

6

15

14,092

-83

7,171

1,448

23,094

-114

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating Income (Loss)

12,529

29,438

48,777

23,985

-5,606

29,320

43,447

23,253

32,672

29,616

58,485

28,262

35,359

41,074

69,467

41,403

29,729

40,882

35,199

32,105

13,566

19,268

17,465

26,393

21,907

28,181

41,531

25,278

26,530

30,222

35,513

21,850

22,592

17,650

35,675

17,947

13,490

24,525

Equity in earnings (loss) of unconsolidated entities

-99

-278

-867

-1,063

-25

310

1,170

-588

-2,286

-679

-2,138

-763

-1,678

-560

-287

-3,585

2,253

-4,369

1,907

-6,622

-4,299

2,831

7,461

-3,498

-8,778

-10,105

2,367

-6,888

-3,179

-7,373

23

-10,304

-5,067

-6,228

-2,301

28,124

3

664

Interest income

665

836

785

781

1,173

1,150

883

746

742

706

546

208

102

92

74

63

23

21

30

16

17

27

12

6

10

12

13

36

41

30

22

32

15

11

23

36

114

51

Gain (loss) on acquisition of PIM Highland JV and sale of hotel properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

380,705

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Nonoperating Income (Expense)

11,472

-328

-338

-316

-16

-202

206

76

117

-273

-146

-3,120

-254

-926

-3,085

-252

-2,597

-314

-2,283

4,330

732

2,564

2,000

1,277

-796

314

310

5,822

8,713

8,671

6,703

7,613

26,015

17,349

18,157

48,003

15,874

15,652

Interest Expense, Debt

61,492

66,356

67,987

66,166

63,106

60,731

58,206

54,743

55,407

56,963

54,956

55,305

55,800

55,762

56,462

55,943

53,525

51,859

47,495

34,635

28,939

29,400

27,788

28,375

32,834

36,625

36,026

35,380

36,051

37,129

36,284

34,875

33,296

34,530

34,808

34,578

35,239

35,321

Write-off of premiums, loan costs and exit fees

263

426

90

2,062

-469

1,572

5,694

2,050

1,216

0

1,575

54

7,789

972

3,941

0

983

0

0

4,767

0

8,319

6

2,028

127

0

0

1,971

3,998

0

0

0

-

729

-

-

-

-

Unrealized gain (loss) on marketable securities

175

315

598

808

-255

68

-268

-558

164

-936

-531

-3,346

4,946

0

0

0

0

0

1,929

-1,802

3,486

-2,875

-944

1

3,076

257

-919

2,701

-863

-48

1,628

1,785

-78

-352

39

0

-

-

Unrealized Gain (Loss) on Derivatives

-440

-2,536

1,476

-2,994

1,494

-2,085

-1,916

329

-998

-1,479

-1,743

1,418

-6,782

-9,548

6,878

6,918

-999

-2,750

-1,955

-1,698

-420

-70

-263

-347

-1,138

-817

789

-7,149

-8,905

-9,353

-7,458

-9,941

-19,009

-16,727

-17,733

-16,817

382

16,534

Income (loss) before income taxes

-37,453

-39,335

-17,646

-47,027

-65,872

-33,742

-20,378

-33,535

-40,236

-29,993

12,034

-32,783

-56,324

-25,154

35,738

-11,510

-26,052

-18,389

-12,668

367,632

-15,857

-15,974

-2,063

-6,571

-18,680

-18,783

8,065

-17,551

-17,712

-14,980

147

-23,840

-8,828

-23,556

-948

42,715

-5,376

-

Income (loss) from continuing operations before income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,105

Income Tax Expense (Benefit)

-1,834

-249

3,706

-405

176

519

2,973

-886

-1,711

-1,267

1,606

-846

316

-16

603

629

75

1,721

2,089

825

446

292

312

216

-177

619

465

604

-509

639

1,366

879

-786

1,077

285

1,044

-22

414

Income (loss) from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-20,110

-

-

-16,303

-16,266

-2,375

-6,787

-18,503

-19,402

7,600

-18,155

-17,203

-15,619

-1,219

-24,719

-8,042

-24,633

-1,233

41,671

-5,354

21,691

Income (loss) from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-55

62

22

4

-

-

-

-

3,519

-2,412

-4,721

166

-3,711

-351

-6,029

2,211

53,019

-14,189

Gain (loss) on sale of hotel properties, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

599

-

-

0

0

0

3,491

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-35,619

-39,086

-21,352

-46,622

-66,048

-34,261

-23,351

-32,649

-38,525

-28,726

10,428

-31,937

-56,640

-25,138

35,135

-12,139

-26,127

-19,511

-14,757

366,807

-16,358

-16,204

-2,353

-3,292

-18,601

-19,402

7,600

-18,155

-13,684

-18,031

-5,940

-24,553

-11,753

-24,984

-7,262

43,882

47,665

7,502

(Income) loss from consolidated entities attributable to noncontrolling interests

-110

10

14

-26

-22

10

20

-38

-114

22

13

-31

2

16

6

-38

-22

3

14

-25

-260

-124

5

-27

1,798

-175

-8

-707

1,311

-219

54

-278

73

-832

438

931

-293

-427

Net (income) loss attributable to redeemable noncontrolling interests in operating partnership

-7,350

-7,919

-5,084

-8,579

-11,226

-6,682

-5,065

-6,340

-8,440

-6,940

231

-6,493

-9,738

-5,009

4,376

-2,112

81,505

-3,193

2,527

-45,336

-10,634

2,585

772

877

13,335

-2,892

502

-2,762

-2,394

-2,665

-1,180

-3,057

-1,630

-2,935

-3,389

5,118

6,689

1,129

Net Income (Loss) Attributable to Parent

-28,159

-31,177

-16,282

-38,017

-54,800

-27,589

-18,306

-26,271

-29,971

-21,808

10,184

-25,413

-46,904

-20,145

30,753

-9,989

-21,992

-16,321

-12,244

321,496

-13,932

-13,495

-1,586

-2,388

-17,368

-16,335

7,106

-14,686

-12,601

-15,147

-4,814

-21,218

-10,196

-21,217

-4,311

37,833

41,269

6,800

Preferred Stock Dividends, Income Statement Impact

10,644

10,645

10,644

10,644

10,644

10,645

10,644

10,644

11,409

11,440

10,956

10,956

10,416

8,875

8,491

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,490

8,331

8,135

7,415

24,771

6,555

4,988

4,831

Extinguishment of Issuance Costs upon Redemption of Preferred Stock

-

-

-

-

-

-

-

-

-

4,507

-

-

-

6,124

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income (loss) attributable to common stockholders

-38,803

-41,822

-26,926

-48,661

-65,444

-38,234

-28,950

-36,915

-47,672

-37,755

-772

-36,369

-57,320

-35,144

22,262

-18,479

-30,483

-24,811

-20,735

313,006

-22,423

-21,985

-10,077

-10,878

-25,859

-24,825

-1,385

-23,176

-21,092

-23,637

-13,304

-29,549

-18,331

-28,632

-29,082

31,278

36,281

1,969

Income (loss) per share – basic and diluted:
Earnings Per Share, Basic [Abstract]
Income (loss) from continuing operations attributable to common stockholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.27

-0.24

-0.11

-0.13

-

-

-

-

-

-0.32

-0.14

-0.44

-

-0.43

-0.40

0.51

-

0.27

Income (loss) from discontinued operations attributable to common stockholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

-

-

-

-

-

-0.03

-0.06

0.00

-

0.00

-0.09

0.02

-

-0.23

Net income (loss) attributable to common stockholders (in dollars per share)

-0.40

-0.42

-0.27

-0.49

-0.66

-0.40

-0.30

-0.39

-0.50

-0.40

-0.01

-0.39

-0.61

-0.37

0.23

-0.20

-0.35

-0.26

-0.21

3.25

-0.27

-0.24

-0.11

-0.13

-0.33

-0.31

-0.02

-0.34

-

-0.35

-0.20

-0.44

-

-0.43

-0.49

0.53

-

0.04

Weighted average common shares outstanding – basic (in shares)

-

-

99,942

99,407

-

-

96,889

95,367

-

95,332

95,320

94,840

-

-

-

-

-

-

-

-

-

-

-

-

-

-

68,489

-

-

-

-

-

-

-

-

-

49

-

Weighted average common shares outstanding – basic (in shares)

-

99,971

-

-

-

97,467

-

-

-

-

-

-

-

94,531

94,474

94,136

93,978

95,888

99,755

95,539

89,695

90,322

88,781

81,690

84,551

79,898

68,489

67,682

-

67,659

67,639

67,152

-

66,801

59,482

57,931

-

50,716

Earnings Per Share, Diluted [Abstract]
Income (loss) from continuing operations attributable to common stockholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.27

-0.24

-0.11

-0.13

-

-

-

-

-0.36

-0.32

-0.14

-0.44

-0.22

-0.43

-0.40

0.45

-0.18

0.25

Income (loss) from discontinued operations attributable to common stockholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

-

-

-

-

0.05

-0.03

-0.06

0.00

-0.05

0.00

-0.09

0.01

0.89

-0.19

Net income (loss) attributable to common stockholders (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.71

-

Earnings Per Share, Diluted

-0.40

-0.42

-0.27

-0.49

-0.66

-0.40

-0.30

-0.39

-0.50

-0.40

-0.01

-0.39

-0.61

-0.37

0.23

-0.20

-

-0.26

-0.21

3.13

-

-0.24

-0.11

-0.13

-

-0.31

-0.02

-0.34

-

-0.35

-0.20

-0.44

-

-0.43

-0.49

0.46

-

0.06

Weighted Average Number of Shares Outstanding, Diluted

100,208

99,791

99,942

99,407

99,405

97,467

96,889

95,367

95,336

95,332

95,320

94,840

94,563

94,531

94,474

94,136

149,969

95,888

99,755

113,912

89,695

90,322

88,781

81,690

-

79,898

68,489

67,682

-

67,659

67,639

67,152

-

66,801

59,482

79,330

-

72,981

Dividends declared per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

0.12

0.12

0.12

-

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.12

0.11

0.11

0.11

0.11

0.10

0.10

0.10

0.10

-

-

Amounts attributable to common stockholders:
Income (loss) from continuing operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

321,496

-

-13,550

-1,605

-2,391

-17,282

-16,335

7,106

-14,686

-15,670

-13,038

-678

-21,365

-6,913

-20,906

969

36,798

-4,304

18,659

Income (loss) from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55

19

3

-

-

-

-

3,069

-2,109

-4,136

147

-3,283

-311

-5,280

1,035

45,573

-11,859

Preferred dividends

10,644

10,645

10,644

10,644

10,644

10,645

10,644

10,644

11,409

11,440

10,956

10,956

-

8,875

8,491

-

-

-

-

-

-

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,491

8,490

8,490

8,331

8,135

7,415

24,771

6,555

4,988

4,831

Net income (loss) attributable to common stockholders

-38,803

-41,822

-26,926

-48,661

-65,444

-38,234

-28,950

-36,915

-47,672

-37,755

-772

-36,369

-

-35,144

22,262

-

-30,483

-24,811

-20,735

313,006

-

-21,985

-10,077

-10,878

-25,859

-24,825

-1,385

-23,176

-21,092

-23,637

-13,304

-29,549

-18,331

-28,632

-29,082

31,278

36,281

1,969

Total hotel revenue
Revenue from Contract with Customer, Excluding Assessed Tax

353,693

373,193

414,025

357,646

342,463

354,721

388,368

341,228

340,464

352,336

389,995

353,321

341,225

371,470

410,227

367,379

352,452

364,075

368,908

249,375

187,982

197,258

203,142

191,602

205,841

241,875

258,403

231,835

237,576

224,095

240,701

216,980

203,357

214,518

230,019

211,722

201,706

217,155

Rooms
Revenue from Contract with Customer, Excluding Assessed Tax

274,650

301,704

328,252

280,381

266,597

288,016

309,381

270,693

266,208

289,017

311,205

276,705

262,803

300,875

325,906

290,615

271,584

294,768

291,670

200,990

150,898

164,946

167,484

156,997

160,300

197,067

205,740

183,469

183,413

181,511

189,829

169,459

160,725

169,145

177,040

162,750

159,069

164,762

Total hotel operating expenses

63,186

66,434

68,179

60,647

60,642

64,197

64,214

59,086

59,786

63,950

65,034

59,873

59,548

65,474

67,193

63,102

62,324

65,402

60,735

43,153

35,599

37,368

36,030

34,754

38,083

45,079

45,075

42,156

43,950

41,673

41,802

38,601

38,565

39,863

39,205

37,046

37,372

36,716

Food and Beverage [Member]
Revenue from Contract with Customer, Excluding Assessed Tax

61,820

53,738

67,298

61,061

59,442

49,396

60,429

55,044

59,772

48,313

63,842

62,850

64,744

56,206

69,206

63,055

67,571

55,210

64,765

39,553

30,180

25,268

29,014

28,239

36,274

34,444

43,234

39,650

45,106

33,732

41,943

39,707

37,516

33,486

41,242

38,407

31,932

40,817

Total hotel operating expenses

42,411

40,089

44,122

41,323

40,632

37,649

40,156

38,465

40,064

37,173

42,276

42,170

42,924

41,086

45,419

43,101

44,449

40,570

42,041

26,280

20,323

18,628

19,379

19,323

23,885

25,860

27,616

27,175

29,838

24,486

26,950

27,000

24,019

25,155

27,121

26,481

24,154

27,119

Hotel, Other [Member]
Revenue from Contract with Customer, Excluding Assessed Tax

17,223

17,751

18,475

16,204

16,424

17,309

18,558

15,491

14,484

15,006

14,948

13,766

13,678

14,389

15,115

13,709

13,297

14,097

12,473

8,832

6,904

7,044

6,644

6,366

9,267

10,364

9,429

8,716

9,057

8,852

8,929

7,814

3,783

10,583

10,253

9,345

9,520

10,122

Total hotel operating expenses

115,308

118,993

124,609

113,527

109,834

109,992

116,254

106,383

106,344

112,421

113,824

111,733

108,692

114,377

119,612

113,137

109,960

112,759

108,395

74,782

59,816

64,103

72,302

58,274

64,878

74,275

73,356

68,292

71,952

67,723

71,171

65,094

57,335

68,351

68,928

65,474

65,145

68,091

Other
Revenue from Contract with Customer, Excluding Assessed Tax

963

1,044

1,123

1,072

1,025

1,209

796

979

1,102

989

675

388

445

461

443

393

425

441

430

860

928

1,072

1,076

1,065

134

149

136

107

53

100

77

75

145

69

80

68

100

138

Management fees
Total hotel operating expenses

12,681

13,393

14,783

12,989

12,772

13,198

14,371

12,737

12,553

13,027

14,247

12,826

12,543

13,616

14,880

13,695

13,028

13,324

13,385

9,657

7,507

7,799

8,077

7,742

8,325

9,888

10,686

9,893

10,199

9,261

9,892

8,990

8,881

8,466

9,184

8,859

8,275

8,834