ASHFORD INC. AINC Cash Flow

Ashford inc. (AINC)

CashFlow / Quarterly

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
Cash Flows from Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-9,022	-6,591	-329	568	2,717	2,006	8,932	-5,835	-7,982	-2,258	-7,231	-2,723	-1,634	-1,092	-1,279	-8,398	5,155	-9,154	768	-8,813	-15,922	-8,871	-13,475	-8,813
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:
Depreciation and amortization
9,681	9,626	6,272	5,563	5,044	4,650	1,943	1,671	1,288	589	593	468	-	-	-	272	283	-12	399	129	101	84	87	87
Change in fair value of deferred compensation plan
-129	-1,526	-4,817	740	-4,904	2,274	-6,375	561	6,737	2,006	-1,673	3,340	-949	-494	928	-1,612	-	-	-	-	-	-	-	-
Equity-based compensation
1,924	2,088	2,704	2,158	1,961	1,989	2,272	3,797	2,099	1,899	2,199	2,272	2,804	2,752	3,070	2,947	3,369	3,369	3,623	5,248	5,096	4,181	7,701	4,527
Straight-line rent amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-37	16
Change in fair value of deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,679	5,256	-	0	0	0
Realized and unrealized (gain) loss on investment in unconsolidated entity, net
-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,460	-879	1,954	1,066	0	-	-	-	-
Income (Loss) from Equity Method Investments
-177	464	-298	-275	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax (benefit) deficiency on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-30	0	0	314	-15	-16	-212	-853	-	-	-	-
Excess tax benefit on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred Income Tax Expense (Benefit)
-873	-1,301	-56	300	2,908	-15,148	0	0	630	-630	8,669	-2,667	-1,049	-1,511	-1,351	1,836	-739	-1,230	-1,313	-960	0	0	0	0
Change in fair value of contingent consideration
-168	2,773	1,621	18	0	-221	346	213	1,066	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Impairment
0	0	0	0	0	0	0	1,919	0	0	1,072	0	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of furniture, fixtures and equipment
-	-	-	-	-	-	-	-	-	0	0	-8	0	0	0	0	-	-	-	-	-	-	-	-
Amortization of Debt Issuance Costs
94	75	70	69	64	130	24	23	14	16	9	0	-	-	-	-	-	-	-	-	-	-	-	-
Realized and unrealized (gain) loss on investments, net
-	-	-	-	-	-	-	-	0	0	-16	-75	-1,898	-441	236	-5,684	17,381	-7,826	-2,000	45	0	0	0	0
Purchases of investments in securities
-	-	-	-	-	-	-	-	-	-	-	-	57,699	16,800	20,842	57,918	2,322	102,080	66,515	3,895	0	0	0	0
Sales of investments in securities
-	-	-	-	-	-	-	-	-	-	-	-	62,863	9,334	23,071	130,202	42,372	126,506	43,070	1,005	0	0	0	0
Changes in operating assets and liabilities, exclusive of the effect of acquisitions:
Accounts receivable
-	-2,609	-3,273	6,851	-	-1,350	-1,126	1,908	-	273	-56	-6	-2	-150	-1,377	1,295	34	-74	284	6	0	0	0	0
Due from affiliates
-853	-38	18	30	45	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
243	-147	-34	335	-17	-8	103	54	205	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-723	1,336	2,597	-527	3,864	0	0
Prepaid expenses and other
1,942	288	280	-338	906	6	40	-45	373	248	-424	-69	360	-432	-481	-51	1,105	-1,108	760	439	357	-682	897	-75
Operating lease right-of-use assets
-661	-513	-462	-412	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
0	3	-3	0	-688	114	71	587	-258	62	6	0	-	-	-	-	-	-	-	-	-	-	-	-
Due from Ashford Trust OP, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-150	-245	0
Due from Ashford Prime OP
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,326	859	1,255
Accounts payable and accrued expenses
2,893	1,314	5,247	-4,448	475	1,319	3,103	-2,752	1,201	4,236	-8,509	4,647	5,149	3,860	-107	-4,111	-10	5,001	313	-2,579	2,616	1,650	2,006	-4,338
Due to affiliates
-704	626	-502	-734	1,513	-2,786	739	-420	-1	541	63	86	48	-837	-194	693	153	-39	93	-503	251	-172	344	244
Other liabilities
-1,712	-1,147	499	4,512	-1,966	-2,005	-1,590	4,903	-2,033	-2,202	133	3,426	-339	-1,257	-702	6,366	-863	-815	1,383	2,642	-527	3,864	0	0
Operating lease liabilities
-659	-503	-459	-400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income
1,658	241	-1,946	-373	-359	799	-54	-759	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income
-	-	-	-	-	-	-	-	-	-	4,762	734	-	1,268	738	1,014	285	344	0	0	-	-	-	-
Due to broker
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,330	323	-	-	0	0
Net cash provided by (used in) operating activities
1,951	8,255	12,224	2,269	5,964	3,291	7,835	4,429	1,367	5,985	1,483	10,580	6,082	-4,202	5,932	77,046	27,985	4,297	-775	-6,706	-9,762	-970	-4,853	-9,489
Cash Flows from Investing Activities
Purchases of furniture, fixtures and equipment under the Ashford Trust ERFP Agreement
-	-	-	5,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property and equipment
1,511	1,478	1,929	1,736	1,411	2,996	1,872	2,663	1,762	1,344	315	159	2,082	3,823	265	70	637	467	226	807	748	1,696	552	475
Proceeds from disposal of property and equipment, net
-	-	-	-	-	-	-	-	0	0	0	15	0	0	0	0	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Gross
-	-	-65	4,332	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Equity Method Investments
-1,862	0	0	2,176	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of assets related to RED
322	582	489	499	1,428	376	2,450	1,220	750	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
9,909	-13,193	-11,804	-13,743	-18,799	-1,095	-4,322	-3,883	-21,484	-1,344	-186	-144	-2,082	-3,823	1,110	-70	-637	-467	-5,726	-807	-748	-1,696	-552	-475
Cash Flows from Financing Activities
Employee advances
-	0	104	249	-	0	-60	105	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit (deficiency) on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	30	0	0	-314	15	16	212	853	-	-	-	-
Excess tax benefit on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Purchases of common stock
-	-	-	-	-	-	-	-	0	0	0	24	0	0	1	19	-10	2	21	64	0	0	0	0
Payments for dividends on preferred stock
4,128	2,791	0	2,791	2,791	1,675	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on revolving credit facilities
20,828	9,724	9,366	6,890	6,331	4,486	5,249	4,815	924	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings on revolving credit facilities
31,199	9,203	9,628	7,617	5,601	6,014	5,004	5,259	1,507	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from note payable
86	3,683	759	6,577	546	4,282	415	1,350	10,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on notes payable
268	914	716	581	444	470	445	494	126	58	38	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments of loan costs
31	4	0	41	566	57	0	15	0	0	28	0	-	-	-	-	-	-	-	-	-	-	-	-
Employee advances
-	-	-	-	-	-	-	-	-	22	-835	742	-	-55	309	-111	-	-	-	-	-	-	-	-
Contributions from owner
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	38,538	398	6,655	10,962
Employee advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	523	-	0	0	0
Contributions from noncontrolling interest
0	525	0	455	0	0	0	2,666	0	333	0	650	322	0	51	2,000	0	0	2,200	2,580	0	0	0	0
Distributions to noncontrolling interests in consolidated entities
0	0	59	4	0	300	14	0	-1	240	2,696	52,375	0	7	44,109	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-6,986	-22	350	4,591	-3,404	20,211	-349	4,056	10,013	57	-3,597	-51,007	150	-62	-43,750	1,556	-50	414	2,648	2,846	39,527	398	6,655	10,962
Effect of foreign exchange rate changes on cash and cash equivalents
-3	23	-12	-3	23	-5	138	-203	-10	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash, cash equivalents and restricted cash
-	-4,937	758	-6,886	-	22,402	3,302	4,399	-	4,698	-2,300	-40,571	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash, cash equivalents and restricted cash
-	-4,937	758	-6,886	-	22,402	3,302	4,399	-	4,698	-2,300	-40,571	4,150	-8,087	-36,708	78,532	-	-	-	-	-	-	-	-
Supplemental Cash Flow Information
Interest paid
-	-	399	211	-	-	165	113	-	5	4	0	0	1	0	133	2	40	0	0	0	0	0	0
Income taxes paid
976	859	1,253	91	-17	777	455	143	1,155	812	2,976	5	974	511	823	25	1,873	785	2,774	534	215	0	0	0
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Amortization of discount on preferred stock
-	363	484	491	-	303	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions associated with non-cash compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,211	4,181	7,701	4,527
Dividends associated with deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	193	191	183
Contributions associated with deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	192	-199	574	180
Dividends declared but not paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	8	183
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued
20	20	27	46	44	63	54	80	77	40	0	112	0	0	0	0	-	-	-	-	-	-	-	-
Capital expenditures accrued but not paid
523	-187	-220	852	-419	-1,460	544	1,953	329	-763	729	1,102	-513	-1,474	2,184	423	-267	233	37	189	117	-688	714	387
Redemption of investment in unconsolidated entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,375	-	-	-	-	-	-	-	-
Redemption of investment in unconsolidated entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Accrued but unpaid redemption of AQUA U.S. Fund
-	-	-	-	-	-	-	-	-	-	-	2,696	-	-	-	-	-	-	-	0	-	-	-	-
Finance lease additions
40,408	1,551	-68	137	220	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,244	-3,853	-4,667	29,017	-2,268	1,250	998
Ashford Trust OP
Due from affiliates
-	-428	101	-522	-	-9,287	2,091	-1,970	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Braemar OP
Due from affiliates
-	394	-201	35	-	247	246	-1,642	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BAV
Common stock consideration for acquisition
-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
REA Holdings
Common stock consideration for acquisition
0	0	-3	890	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-