ASHFORD HOSPITALITY TRUST, INC. AHT Income Statement

Ashford hospitality trust, inc. (AHT)

Income statement / TTM

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenue
Revenue from Contract with Customer, Excluding Assessed Tax
1,502,759	1,491,591	1,473,284	1,447,300	1,430,789	1,428,867	1,426,262	1,427,768	1,439,270	1,439,374	1,457,980	1,477,980	1,492,043	1,503,250	1,495,835	1,454,503	1,336,966	1,174,457	1,011,398	850,223	794,849	811,503	852,070	902,446	939,527	970,134	952,305	934,544	919,657	885,530	875,922	865,243	859,978	858,631	861,683	0	0	0
Rental income from operating leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,341	5,193	5,343	0	0	0
Advisory services revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,724	10,313	7,186	3,241	1,047	0	0	0	-	-	-	-	-	-	-	-	-	-
Interest income from notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Expenses
Hotel operating expenses:
Total hotel operating expenses
952,674	942,968	929,095	912,397	900,582	895,449	896,984	897,370	907,301	912,261	920,243	931,966	938,399	944,453	941,955	919,407	840,244	733,728	629,571	540,803	507,024	518,950	546,154	567,099	594,522	615,290	603,331	596,413	588,582	561,443	560,135	554,758	552,933	559,079	558,004	0	0	0
Property taxes, insurance and other
84,110	83,123	81,925	80,393	78,355	77,649	75,069	73,605	73,579	73,673	72,651	73,178	73,457	73,211	74,036	72,319	65,301	56,708	49,132	40,504	38,499	39,518	41,571	44,286	46,945	47,830	46,843	45,318	44,779	43,466	44,276	45,907	45,085	47,251	47,267	0	0	0
Depreciation and amortization
269,003	268,517	265,534	262,589	258,458	253,887	249,099	245,080	246,731	246,832	246,867	246,399	243,863	243,600	242,171	234,708	210,410	178,852	148,449	122,365	110,653	110,607	115,046	121,356	127,684	130,979	131,760	132,395	133,571	132,354	132,572	132,122	131,243	132,607	131,737	0	0	0
Impairment charges
33,600	28,281	28,254	21,740	23,400	10,067	11,879	11,860	10,200	24,296	17,589	17,705	17,816	34,439	39,472	19,516	19,511	-19,518	-19,524	420	415	410	406	401	396	10,898	5,731	5,537	5,349	4,336	9,310	5,089	4,841	-4,054	-5,150	0	0	0
Gain (loss) on insurance settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-
Transaction costs
2	2	2	9	11	14	14	13	14	-113	11	-15	77	603	871	5,848	6,252	5,859	6,000	1,124	625	742	1,379	0	-	0	0	-	-	0	0	-	-793	0	0	0	-	-
Advisory services fee
63,632	64,710	61,551	68,349	69,122	66,678	68,485	59,635	53,199	58,916	56,252	54,099	54,361	46,123	44,963	44,359	43,023	36,360	25,572	14,100	4,533	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate, general and administrative
11,107	10,409	11,089	11,403	10,931	10,902	10,224	10,247	13,288	12,776	12,332	11,863	8,366	9,004	10,808	11,143	14,310	21,685	33,017	49,348	57,243	57,431	55,792	51,040	52,821	53,702	51,088	48,319	44,050	43,568	41,811	40,886	44,522	41,682	40,911	0	0	0
Costs and Expenses
1,414,156	1,398,001	1,377,441	1,356,871	1,340,850	1,314,599	1,311,707	1,297,763	1,304,265	1,319,251	1,326,399	1,335,417	1,336,339	1,321,577	1,314,354	1,307,290	1,199,051	1,052,705	911,260	767,819	718,157	726,470	758,124	784,434	822,630	848,614	828,744	817,001	805,542	775,353	778,317	767,476	766,114	773,869	770,046	0	0	0
Gain (loss) on sale of assets and hotel properties
26,126	3,004	633	717	475	400	424	14,104	14,030	21,195	22,628	31,630	31,599	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income (Loss)
114,729	96,594	96,476	91,146	90,414	128,692	128,988	144,026	149,035	151,722	163,180	174,162	187,303	181,673	181,481	147,213	137,915	121,752	100,138	82,404	76,692	85,033	93,946	118,012	116,897	121,520	123,561	117,543	114,115	110,177	97,605	97,767	93,864	84,762	91,637	0	0	0
Equity in earnings (loss) of unconsolidated entities
-2,307	-2,233	-1,645	392	867	-1,394	-2,383	-5,691	-5,866	-5,258	-5,139	-3,288	-6,110	-2,179	-5,988	-3,794	-6,831	-13,383	-6,183	-629	2,495	-1,984	-14,920	-20,014	-23,404	-17,805	-15,073	-17,417	-20,833	-22,721	-21,576	-23,900	14,528	19,598	26,490	0	0	0
Interest income
3,067	3,575	3,889	3,987	3,952	3,521	3,077	2,740	2,202	1,562	948	476	331	252	181	137	90	84	90	72	62	55	40	41	71	102	120	129	125	99	80	81	85	184	224	0	0	0
Gain (loss) on acquisition of PIM Highland JV and sale of hotel properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	380,705	380,705	380,705	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Nonoperating Income (Expense)
10,490	-998	-872	-328	64	197	126	-226	-3,422	-3,793	-4,446	-7,385	-4,517	-6,860	-6,248	-5,446	-864	2,465	5,343	9,626	6,573	5,045	2,795	1,105	5,650	15,159	23,516	29,909	31,700	49,002	57,680	69,134	109,524	99,383	97,686	0	0	0
Interest Expense, Debt
262,001	263,615	257,990	248,209	236,786	229,087	225,319	222,069	222,631	223,024	221,823	223,329	223,967	221,692	217,789	208,822	187,514	162,928	140,469	120,762	114,502	118,397	125,622	133,860	140,865	144,082	144,586	144,844	144,339	141,584	138,985	137,509	137,212	139,155	139,946	0	0	0
Write-off of premiums, loan costs and exit fees
2,841	2,109	3,255	8,859	8,847	10,532	8,960	4,841	2,845	9,418	10,390	12,756	12,702	5,896	4,924	983	5,750	4,767	13,086	13,092	10,353	10,480	2,161	2,155	2,098	5,969	5,969	5,969	3,998	729	0	0	-	0	-	-	-	-
Unrealized gain (loss) on marketable securities
1,896	1,466	1,219	353	-1,013	-594	-1,598	-1,861	-4,649	133	1,069	1,600	4,946	0	0	1,929	127	3,613	738	-2,135	-332	-742	2,390	2,415	5,115	1,176	871	3,418	2,502	3,287	2,983	1,394	-391	0	0	0	-	-
Unrealized Gain (Loss) on Derivatives
-4,494	-2,560	-2,109	-5,501	-2,178	-4,670	-4,064	-3,891	-2,802	-8,586	-16,655	-8,034	-2,534	3,249	10,047	1,214	-7,402	-6,823	-4,143	-2,451	-1,100	-1,818	-2,565	-1,513	-8,315	-16,082	-24,618	-32,865	-35,657	-45,761	-53,135	-63,410	-70,286	-50,895	-17,634	0	0	0
Income (loss) before income taxes
-141,461	-169,880	-164,287	-167,019	-153,527	-127,891	-124,142	-91,730	-90,978	-107,066	-102,227	-78,523	-57,250	-26,978	-20,213	-68,619	310,523	320,718	323,133	333,738	-40,465	-43,288	-46,097	-35,969	-46,949	-45,981	-42,178	-50,096	-56,385	-47,501	-56,077	-57,172	9,383	12,835	0	0	0	-
Income (loss) from continuing operations before income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Income Tax Expense (Benefit)
1,218	3,228	3,996	3,263	2,782	895	-891	-2,258	-2,218	-191	1,060	57	1,532	1,291	3,028	4,514	4,710	5,081	3,652	1,875	1,266	643	970	1,123	1,511	1,179	1,199	2,100	2,375	2,098	2,536	1,455	1,620	2,384	1,721	0	0	0
Income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-41,731	-43,931	-47,067	-37,092	-48,460	-47,160	-43,377	-52,196	-58,760	-49,599	-58,613	-58,627	7,763	10,451	56,775	0	0	0
Income (loss) from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	0	0	0	-	-	-	-	-3,448	-10,678	-8,617	-9,925	-7,880	48,850	35,012	0	0	0
Gain (loss) on sale of hotel properties, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	3,491	3,491	3,491	3,491	0	0	0	0	-	-	-	-	-	-	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-142,679	-173,108	-168,283	-170,282	-156,309	-128,786	-123,251	-89,472	-88,760	-106,875	-103,287	-78,580	-58,782	-28,269	-22,642	-72,534	306,412	316,181	319,488	331,892	-38,207	-40,450	-43,648	-33,695	-48,558	-43,641	-42,270	-55,810	-62,208	-60,277	-67,230	-68,552	-117	59,301	91,787	0	0	0
(Income) loss from consolidated entities attributable to noncontrolling interests
-112	-24	-24	-18	-30	-122	-110	-117	-110	6	0	-7	-14	-38	-51	-43	-30	-268	-395	-404	-406	1,652	1,601	1,588	908	421	377	439	868	-370	-983	-599	610	244	649	0	0	0
Net (income) loss attributable to redeemable noncontrolling interests in operating partnership
-28,932	-32,808	-31,571	-31,552	-29,313	-26,527	-26,785	-21,489	-21,642	-22,940	-21,009	-16,864	-12,483	78,760	80,576	78,727	35,503	-56,636	-50,858	-52,613	-6,400	17,569	12,092	11,822	8,183	-7,546	-7,319	-9,001	-9,296	-8,532	-8,802	-11,011	-2,836	5,483	9,547	0	0	0
Net Income (Loss) Attributable to Parent
-113,635	-140,276	-136,688	-138,712	-126,966	-102,137	-96,356	-67,866	-67,008	-83,941	-82,278	-61,709	-46,285	-21,373	-17,549	-60,546	270,939	278,999	281,825	292,483	-31,401	-34,837	-37,677	-28,985	-41,283	-36,516	-35,328	-47,248	-53,780	-51,375	-57,445	-56,942	2,109	53,574	81,591	0	0	0
Preferred Stock Dividends, Income Statement Impact
42,577	42,577	42,577	42,577	42,577	43,342	44,137	44,449	44,761	43,768	41,203	38,738	36,272	34,347	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,962	33,961	33,802	33,446	32,371	48,652	46,876	43,729	41,145	0	0	0
Extinguishment of Issuance Costs upon Redemption of Preferred Stock
-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to common stockholders
-156,212	-182,853	-179,265	-181,289	-169,543	-151,771	-151,292	-123,114	-122,568	-132,216	-129,605	-106,571	-88,681	-61,844	-51,511	-94,508	236,977	245,037	247,863	258,521	-65,363	-68,799	-71,639	-62,947	-75,245	-70,478	-69,290	-81,209	-87,582	-84,821	-89,816	-105,594	-44,767	9,845	40,446	0	0	0
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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-34,828	-37,613	-28,902	-41,197	-39,585	-36,288	-44,072	-50,751	-41,994	-49,862	-48,215	9,948	12,557	52,122	0	0	0
Income (loss) from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-3,029	-9,381	-7,583	-8,727	-7,839	41,017	29,469	0	0	0
Preferred dividends
42,577	42,577	42,577	42,577	42,577	43,342	44,137	44,449	44,761	42,227	39,278	0	-	0	0	-	-	-	-	-	-	33,962	33,962	33,962	33,962	33,962	33,962	33,961	33,802	33,446	32,371	48,652	46,876	43,729	41,145	0	0	0
Net income (loss) attributable to common stockholders
-156,212	-182,853	-179,265	-181,289	-169,543	-151,771	-151,292	-123,114	-122,568	-110,040	-50,023	0	-	0	0	-	236,977	0	0	0	-	-68,799	-71,639	-62,947	-75,245	-70,478	-69,290	-81,209	-87,582	-84,821	-89,816	-105,594	-44,767	9,845	40,446	0	0	0
Total hotel revenue
Revenue from Contract with Customer, Excluding Assessed Tax
1,498,557	1,487,327	1,468,855	1,443,198	1,426,780	1,424,781	1,422,396	1,424,023	1,436,116	1,436,877	1,456,011	1,476,243	1,490,301	1,501,528	1,494,133	1,452,814	1,334,810	1,170,340	1,003,523	837,757	779,984	797,843	842,460	897,721	937,954	969,689	951,909	934,207	919,352	885,133	875,556	864,874	859,616	857,965	860,602	0	0	0
Rooms
Revenue from Contract with Customer, Excluding Assessed Tax
1,184,987	1,176,934	1,163,246	1,144,375	1,134,687	1,134,298	1,135,299	1,137,123	1,143,135	1,139,730	1,151,588	1,166,289	1,180,199	1,188,980	1,182,873	1,148,637	1,059,012	938,326	808,504	684,318	640,325	649,727	681,848	720,104	746,576	769,689	754,133	738,222	724,212	701,524	689,158	676,369	669,660	668,004	663,621	0	0	0
Total hotel operating expenses
258,446	255,902	253,665	249,700	248,139	247,283	247,036	247,856	248,643	248,405	249,929	252,088	255,317	258,093	258,021	251,563	231,614	204,889	176,855	152,150	143,751	146,235	153,946	162,991	170,393	176,260	172,854	169,581	166,026	160,641	158,831	156,234	154,679	153,486	150,339	0	0	0
Food and Beverage [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
243,917	241,539	237,197	230,328	224,311	224,641	223,558	226,971	234,777	239,749	247,642	253,006	253,211	256,038	255,042	250,601	227,099	189,708	159,766	124,015	112,701	118,795	127,971	142,191	153,602	162,434	161,722	160,431	160,488	152,898	152,652	151,951	150,651	145,067	152,398	0	0	0
Total hotel operating expenses
167,945	166,166	163,726	159,760	156,902	156,334	155,858	157,978	161,683	164,543	168,456	171,599	172,530	174,055	173,539	170,161	153,340	129,214	107,272	84,610	77,653	81,215	88,447	96,684	104,536	110,489	109,115	108,449	108,274	102,455	103,124	103,295	102,776	102,911	104,875	0	0	0
Hotel, Other [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
69,653	68,854	68,412	68,495	67,782	65,842	63,539	59,929	58,204	57,398	56,781	56,948	56,891	56,510	56,218	53,576	48,699	42,306	35,253	29,424	26,958	29,321	32,641	35,426	37,776	37,566	36,054	35,554	34,652	29,378	31,109	32,433	33,964	39,701	39,240	0	0	0
Total hotel operating expenses
472,437	466,963	457,962	449,607	442,463	438,973	441,402	438,972	444,322	446,670	448,626	454,414	455,818	457,086	455,468	444,251	405,896	355,752	307,096	271,003	254,495	259,557	269,729	270,783	280,801	287,875	281,323	279,138	275,940	261,323	261,951	259,708	260,088	267,898	267,638	0	0	0
Other
Revenue from Contract with Customer, Excluding Assessed Tax
4,202	4,264	4,429	4,102	4,009	4,086	3,866	3,745	3,154	2,497	1,969	1,737	1,742	1,722	1,702	1,689	2,156	2,659	3,290	3,936	4,141	3,347	2,424	1,484	526	445	396	337	305	397	366	369	362	0	0	0	0	0
Management fees
Total hotel operating expenses
53,846	53,937	53,742	53,330	53,078	52,859	52,688	52,564	52,653	52,643	53,232	53,865	54,734	55,219	54,927	53,432	49,394	43,873	38,348	33,040	31,125	31,943	34,032	36,641	38,792	40,666	40,039	39,245	38,342	37,024	36,229	35,521	35,390	34,784	35,152	0	0	0