ASHFORD INC. AINC Cash Flow

Ashford inc. (AINC)

CashFlow / 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
Cash Flows from Operating Activities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-15,374	-3,635	4,962	14,223	7,820	-2,879	-7,143	-23,306	-20,194	-13,846	-12,680	-6,728	-12,403	-5,614	-13,676	-11,629	-12,044	-33,121	-32,838	-47,081	-47,081	0	0	0
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:
Depreciation and amortization
31,142	26,505	21,529	17,200	13,308	9,552	5,491	4,141	2,938	0	0	0	-	-	-	942	799	617	713	401	359	0	0	0
Change in fair value of deferred compensation plan
-5,732	-10,507	-6,707	-8,265	-8,444	3,197	2,929	7,631	10,410	2,724	224	2,825	-2,127	0	0	0	-	-	-	-	-	-	-	-
Equity-based compensation
8,874	8,911	8,812	8,380	10,019	10,157	10,067	9,994	8,469	9,174	10,027	10,898	11,573	12,138	12,755	13,308	15,609	17,336	18,148	22,226	21,505	0	0	0
Straight-line rent amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Change in fair value of deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Realized and unrealized (gain) loss on investment in unconsolidated entity, net
-	-	-	-	-	-	-	-	-	-	-	-	1,460	581	2,535	3,601	2,141	0	0	0	-	-	-	-
Income (Loss) from Equity Method Investments
-286	-109	-573	-275	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax (benefit) deficiency on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	284	299	283	71	-1,096	0	0	0	-	-	-	-
Excess tax benefit on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred Income Tax Expense (Benefit)
-1,930	1,851	-11,996	-11,940	-12,240	-14,518	0	8,669	6,002	4,323	3,442	-6,578	-2,075	-1,765	-1,484	-1,446	-4,242	-3,503	-2,273	-960	0	0	0	0
Change in fair value of contingent consideration
4,244	4,412	1,418	143	338	1,404	1,625	1,279	1,066	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Impairment
0	0	0	0	1,919	1,919	1,919	2,991	1,072	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss on sale of furniture, fixtures and equipment
-	-	-	-	-	-	-	-	-	-8	-8	-8	0	0	0	0	-	-	-	-	-	-	-	-
Amortization of Debt Issuance Costs
308	278	333	287	241	191	77	62	39	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Realized and unrealized (gain) loss on investments, net
-	-	-	-	-	-	-	-	-91	-1,989	-2,430	-2,178	-7,787	11,492	4,107	1,871	7,600	-9,781	-1,955	45	0	0	0	0
Purchases of investments in securities
-	-	-	-	-	-	-	-	-	-	-	-	153,259	97,882	183,162	228,835	174,812	172,490	70,410	3,895	0	0	0	0
Sales of investments in securities
-	-	-	-	-	-	-	-	-	-	-	-	225,470	204,979	322,151	342,150	212,953	170,581	44,075	1,005	0	0	0	0
Changes in operating assets and liabilities, exclusive of the effect of acquisitions:
Accounts receivable
-	0	0	4,718	-	0	0	2,639	-	209	-214	-1,535	-234	-198	-122	1,539	250	216	290	6	0	0	0	0
Due from affiliates
-843	55	93	75	45	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Inventories
397	137	276	413	132	354	362	259	205	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,683	7,270	5,934	3,337	0	0	0
Prepaid expenses and other
2,172	1,136	854	614	907	374	616	152	128	115	-565	-622	-604	141	-535	706	1,196	448	874	1,011	497	0	0	0
Operating lease right-of-use assets
-2,048	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
0	-688	-577	-503	84	514	462	397	-190	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Due from Ashford Trust OP, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Due from Ashford Prime OP
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Accounts payable and accrued expenses
5,006	2,588	2,593	449	2,145	2,871	5,788	-5,824	1,575	5,523	5,147	13,549	4,791	-368	773	1,193	2,725	5,351	2,000	3,693	1,934	0	0	0
Due to affiliates
-1,314	903	-2,509	-1,268	-954	-2,468	859	183	689	738	-640	-897	-290	-185	613	900	-296	-198	-331	-80	667	0	0	0
Other liabilities
2,152	1,898	1,040	-1,049	-658	-725	-922	801	-676	1,018	1,963	1,128	4,068	3,544	3,986	6,071	2,347	2,683	7,362	5,979	3,337	0	0	0
Operating lease liabilities
-2,021	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income
-420	-2,437	-1,879	13	-373	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income
-	-	-	-	-	-	-	-	-	-	0	3,606	-	3,305	2,381	1,643	629	0	0	0	-	-	-	-
Due to broker
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0
Net cash provided by (used in) operating activities
24,699	28,712	23,748	19,359	21,519	16,922	19,616	13,264	19,415	24,130	13,943	18,392	84,858	106,761	115,260	108,553	24,801	-12,946	-18,213	-22,291	-25,074	0	0	0
Cash Flows from Investing Activities
Purchases of furniture, fixtures and equipment under the Ashford Trust ERFP Agreement
-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property and equipment
6,654	6,554	8,072	8,015	8,942	9,293	7,641	6,084	3,580	3,900	6,379	6,329	6,240	4,795	1,439	1,400	2,137	2,248	3,477	3,803	3,471	0	0	0
Proceeds from disposal of property and equipment, net
-	-	-	-	-	-	-	-	15	15	15	15	0	0	0	0	-	-	-	-	-	-	-	-
Payments to Acquire Businesses, Gross
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Equity Method Investments
314	2,176	2,176	2,176	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of assets related to RED
1,892	2,998	2,792	4,753	5,474	4,796	4,420	1,970	750	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-28,831	-57,539	-45,441	-37,959	-28,099	-30,784	-31,033	-26,897	-23,158	-3,756	-6,235	-4,939	-4,865	-3,420	-64	-6,900	-7,637	-7,748	-8,977	-3,803	-3,471	0	0	0
Cash Flows from Financing Activities
Employee advances
-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit (deficiency) on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-284	-299	-283	-71	1,096	0	0	0	-	-	-	-
Excess tax benefit on equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Purchases of common stock
-	-	-	-	-	-	-	-	24	24	24	25	20	10	12	32	77	87	85	64	0	0	0	0
Payments for dividends on preferred stock
9,710	8,373	7,257	7,257	4,466	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on revolving credit facilities
46,808	32,311	27,073	22,956	20,881	15,474	10,988	5,739	924	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings on revolving credit facilities
57,647	32,049	28,860	24,236	21,878	17,784	11,770	6,766	1,507	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from note payable
11,105	11,565	12,164	11,820	6,593	16,047	11,765	11,350	10,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on notes payable
2,479	2,655	2,211	1,940	1,853	1,535	1,123	716	222	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments of loan costs
76	611	664	664	638	72	15	43	28	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Employee advances
-	-	-	-	-	-	-	-	-	0	0	812	-	0	0	0	-	-	-	-	-	-	-	-
Contributions from owner
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56,553	0	0	0
Employee advances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Contributions from noncontrolling interest
980	980	455	455	2,666	2,666	2,999	2,999	983	1,305	972	1,023	2,373	2,051	2,051	4,200	4,780	4,780	4,780	2,580	0	0	0	0
Distributions to noncontrolling interests in consolidated entities
63	63	363	318	314	313	253	2,935	55,310	55,311	55,078	96,491	44,116	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-2,067	1,515	21,748	21,049	20,514	33,931	13,777	10,529	-44,534	-54,397	-54,516	-94,669	-42,106	-42,306	-41,830	4,568	5,858	45,435	45,419	49,426	57,542	0	0	0
Effect of foreign exchange rate changes on cash and cash equivalents
5	31	3	153	-47	-80	-75	-213	-10	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash, cash equivalents and restricted cash
-	0	0	2,602	-	0	0	-3,317	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net change in cash, cash equivalents and restricted cash
-	0	0	2,602	-	0	0	-3,317	-	-34,023	-46,808	-81,216	37,887	0	0	0	-	-	-	-	-	-	-	-
Supplemental Cash Flow Information
Interest paid
-	-	0	968	-	-	0	166	-	9	5	1	134	136	175	175	42	40	0	0	0	0	0	0
Income taxes paid
3,179	2,186	2,104	1,306	1,358	2,530	2,565	5,086	4,948	4,767	4,466	2,313	2,333	3,232	3,506	5,457	5,966	4,308	3,523	749	215	0	0	0
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Amortization of discount on preferred stock
-	0	0	1,221	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contributions associated with non-cash compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,620	0	0	0
Dividends associated with deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	567	0	0	0
Contributions associated with deferred compensation plan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	747	0	0	0
Dividends declared but not paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued
113	137	180	207	241	274	251	197	229	152	112	112	0	0	0	0	-	-	-	-	-	-	-	-
Capital expenditures accrued but not paid
968	26	-1,247	-483	618	1,366	2,063	2,248	1,397	555	-156	1,299	620	866	2,573	426	192	576	-345	332	530	0	0	0
Redemption of investment in unconsolidated entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Redemption of investment in unconsolidated entity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Accrued but unpaid redemption of AQUA U.S. Fund
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	0	-	-	-	-
Finance lease additions
42,028	1,840	289	357	220	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental Disclosure of Cash, Cash Equivalents and Restricted Cash
Net change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,741	18,229	23,332	28,997	0	0	0
Ashford Trust OP
Due from affiliates
-	0	0	-7,468	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Braemar OP
Due from affiliates
-	0	0	1,472	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BAV
Common stock consideration for acquisition
-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
REA Holdings
Common stock consideration for acquisition
887	887	887	890	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-