Choice hotels international inc /de (CHH)
Balance Sheet / Quarterly
Mar'20Dec'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'11Dec'10Sep'10Jun'10Dec'09
ASSETS
Current assets
Cash and cash equivalents

321,954

33,766

31,569

34,407

31,810

26,642

30,916

37,148

36,834

235,336

238,848

197,957

187,472

202,463

205,953

207,888

194,072

193,441

199,261

230,650

200,544

214,879

244,392

211,542

174,878

167,795

161,138

143,790

140,225

134,177

115,064

485,390

91,312

107,057

124,734

90,961

76,405

91,259

79,548

70,926

67,870

Receivables (net of allowance for credit losses of $24,250 and $18,482, respectively)

148,281

141,566

171,802

181,452

153,969

138,018

185,586

186,034

143,028

125,870

151,672

146,653

117,878

107,336

129,422

126,689

102,786

89,352

114,623

118,989

102,013

91,681

109,748

119,763

100,147

82,385

102,887

70,951

54,202

79,999

66,196

62,643

53,290

53,012

62,009

58,044

48,279

47,638

53,682

50,342

41,898

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

26,193

26,734

25,674

-

26,258

29,733

28,422

26,684

27,367

4,136

4,136

26,198

-

-

-

0

429

429

429

429

7,980

7,980

7,980

Income taxes receivable

10,553

11,126

4,651

3,674

2,541

10,122

308

50

664

0

19,676

59

446

316

277

500

7,134

5,486

267

0

0

1,458

-

-

-

0

0

928

0

2,201

-

-

-

0

-

-

-

-

-

-

-

Notes receivable

27,237

26,265

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Less: Allowance for notes receivable credit losses

3,076

861

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes receivable, net of allowances

-

-

29,012

34,014

34,416

36,759

32,642

29,237

17,254

13,256

10,789

10,362

7,650

7,873

7,709

8,235

8,186

5,107

-

-

-

3,961

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investments, employee benefit plans, at fair value

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

174

174

177

-

211

176

174

400

386

377

378

3,486

3,668

5,184

5,241

12,094

-

-

-

0

-

-

-

Other current assets

26,330

24,727

23,230

23,317

27,935

32,243

31,163

30,683

34,065

25,967

34,338

25,196

29,416

26,885

28,568

34,731

25,938

17,567

19,015

21,030

28,864

13,450

24,817

23,789

36,201

29,710

30,002

35,522

40,832

36,669

29,749

30,656

28,635

22,633

22,585

22,030

22,755

24,256

23,980

20,982

10,114

Total current assets

531,279

236,589

260,264

276,864

250,671

243,784

280,615

283,152

231,845

400,429

455,323

380,227

342,862

344,873

371,929

378,043

338,116

310,953

359,533

397,577

357,272

325,429

405,426

385,003

339,822

306,974

321,780

255,704

239,773

282,730

214,677

583,873

178,478

194,796

209,757

171,464

147,868

163,582

165,190

150,230

127,862

Property and equipment, at cost, net

351,045

351,502

347,343

149,084

134,861

127,535

117,610

112,567

98,403

83,374

83,611

83,134

82,701

84,061

86,736

86,784

88,345

88,158

86,786

82,375

80,057

77,309

58,381

58,238

58,268

67,852

67,000

69,648

71,289

51,651

52,822

50,561

51,309

51,992

53,504

53,872

54,296

55,662

52,976

48,422

43,627

Operating lease right-of-use assets

23,689

24,088

26,251

25,574

27,997

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

159,196

159,196

159,197

159,197

165,623

168,996

173,641

173,741

174,538

80,757

80,519

80,036

79,073

78,905

79,799

79,629

79,982

79,327

79,495

65,813

65,813

65,813

65,813

65,813

65,813

65,813

65,813

65,813

65,813

65,813

66,006

65,996

66,013

66,005

66,021

66,041

66,042

66,041

66,040

66,033

65,813

Intangible assets, net

292,030

290,421

279,484

272,208

264,690

271,188

263,923

248,469

246,925

100,492

14,749

15,101

15,301

15,738

11,543

11,676

12,025

11,948

12,181

7,268

8,001

8,912

7,516

8,389

9,204

9,953

10,875

11,573

12,550

13,473

14,554

15,435

16,395

17,255

17,913

19,153

19,962

20,825

21,641

22,308

24,559

Notes receivable

112,785

106,749

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Less: Allowance for notes receivable losses

10,026

3,695

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes receivable, net of allowances

-

-

92,995

86,905

83,808

83,440

83,034

78,921

78,286

80,136

139,803

132,004

123,878

110,608

98,450

92,195

92,477

82,572

73,756

51,228

48,781

40,441

35,045

34,492

34,223

31,872

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advances, marketing and reservation activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

160

5,844

14,070

-

-

29,467

-

-

-

-

-

-

-

-

-

-

-

Investments, employee benefit plans, at fair value

21,083

24,978

23,489

23,313

21,970

19,398

21,542

20,349

20,142

20,838

19,749

19,451

18,755

16,975

16,414

16,516

17,802

17,674

17,102

18,274

17,916

17,539

16,845

17,270

16,852

15,950

14,950

14,114

13,933

12,755

12,530

12,221

12,625

11,678

22,017

24,972

24,728

23,365

22,370

20,868

20,931

Investments in unconsolidated entities

78,583

78,655

69,190

108,843

106,803

109,016

107,905

133,478

128,157

134,226

131,128

131,722

123,550

94,839

83,740

78,801

66,685

67,037

-

-

-

50,605

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

49,346

20,747

27,245

28,144

32,850

30,613

32,730

23,310

24,601

27,224

7,835

54,030

54,592

52,812

47,002

38,631

36,536

42,434

19,899

19,729

18,921

44,406

14,498

1,121

0

0

-

11,187

14,969

-

22,962

22,017

23,549

22,665

21,580

24,435

24,460

24,435

16,905

14,192

14,143

Receivable - marketing and reservation fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

54,786

51,297

-

46,249

64,838

63,690

54,014

54,040

60,475

54,719

42,507

46,127

58,508

33,872

Other assets

94,942

97,442

88,804

84,145

84,543

84,400

80,037

49,029

49,120

67,715

28,475

52,268

63,420

53,657

50,663

61,115

55,295

16,907

64,010

60,329

64,361

7,463

60,663

58,116

55,253

52,164

88,204

79,887

76,349

76,013

53,271

42,797

31,173

29,284

23,089

20,893

20,298

15,305

12,058

9,647

9,230

Total assets

1,703,952

1,386,672

1,374,262

1,214,277

1,173,816

1,138,370

1,161,037

1,123,016

1,052,017

995,191

961,192

947,973

904,132

852,468

846,276

843,390

787,263

717,010

712,762

702,593

661,122

637,917

664,187

628,442

579,595

556,422

582,692

562,712

545,973

531,902

483,071

857,738

443,232

447,689

467,921

441,305

412,373

411,722

403,307

390,208

340,037

LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities
Accounts payable

68,987

73,449

84,512

96,752

72,086

73,511

71,684

72,266

62,730

67,839

68,261

67,736

59,090

48,071

60,363

74,925

60,619

64,431

59,922

72,207

54,631

57,124

64,110

50,892

44,818

41,663

40,758

54,572

59,429

38,714

44,245

45,548

45,128

38,389

44,529

46,833

38,730

41,168

40,304

42,735

33,859

Accrued expenses and other current liabilities

65,939

90,364

73,680

73,851

66,966

92,651

78,591

73,940

58,953

84,315

66,515

65,837

54,010

80,388

59,577

64,144

46,616

70,648

50,683

56,537

39,414

64,158

46,781

52,398

37,219

56,625

43,475

47,719

35,134

55,552

43,539

36,137

28,530

53,851

37,085

36,919

28,963

47,818

35,936

30,442

37,074

Deferred revenue

60,442

71,594

77,337

68,695

77,065

67,614

65,810

58,190

62,247

52,142

136,956

135,350

145,833

133,218

121,592

113,763

112,076

71,587

68,439

70,402

73,908

66,382

65,839

67,365

69,155

61,188

61,401

67,757

76,316

71,154

76,949

64,422

70,830

68,825

76,643

60,898

72,039

67,322

71,296

57,226

51,765

Current portion of long-term debt

7,335

7,511

507

508

1,088

1,097

1,099

1,099

1,265

1,232

1,302

1,302

1,225

1,195

660

833

1,016

1,191

1,706

1,124

12,362

12,349

11,967

11,970

11,026

10,088

9,132

8,205

8,201

8,195

10,065

683

679

673

691

516

508

420

294

-

0

Liability for guest loyalty program

52,717

82,970

80,268

81,202

86,666

83,566

82,346

81,178

84,075

79,123

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

200

6,600

291,100

0

Deferred compensation and retirement plan obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

174

174

177

-

620

579

573

2,492

2,439

2,393

2,361

2,522

17,870

19,276

19,184

18,935

2,720

2,693

2,573

2,552

2,510

2,461

2,798

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,820

2,820

2,784

2,784

-

-

-

0

-

-

-

Income taxes payable

-

-

-

-

-

-

-

-

-

-

0

6,136

13,923

796

16,303

5,632

0

159

10,194

1,242

1,396

85

10,140

17,459

5,466

2,282

21,906

-

1,550

0

11,686

12,854

9,220

1,108

20,129

17,142

6,928

5,778

19,775

17,648

6,310

Total current liabilities

255,420

325,888

316,304

321,008

303,871

318,439

299,530

286,673

269,270

284,651

273,034

276,361

274,081

263,668

258,495

259,297

220,327

208,016

191,118

201,686

181,888

200,098

199,457

200,663

168,257

174,338

179,111

180,646

182,991

176,137

207,174

181,740

176,355

184,565

181,797

165,001

149,741

165,258

176,715

441,612

131,806

Long-term debt

1,208,945

844,102

875,843

784,280

804,730

753,514

781,433

795,124

795,745

725,292

800,001

862,965

862,389

839,409

866,247

901,352

892,447

812,945

815,858

800,035

799,628

772,729

774,756

777,536

795,497

783,471

815,957

858,273

863,114

847,150

808,911

651,717

257,780

252,032

252,320

251,981

260,007

251,554

251,613

0

277,700

Long-term deferred revenue

126,656

112,662

110,997

108,128

111,113

110,278

107,370

103,754

96,351

98,459

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred compensation and retirement plan obligations

25,869

29,949

28,306

28,029

26,879

24,212

26,137

24,866

24,513

25,566

24,355

23,927

23,044

21,595

20,890

20,873

22,415

22,859

22,145

24,237

24,259

23,987

23,118

23,260

22,387

22,527

21,219

20,114

19,940

20,399

19,992

19,482

19,640

20,593

33,818

34,969

34,660

35,707

34,579

33,348

34,956

Income taxes payable

26,147

26,147

23,510

23,510

26,276

26,276

26,276

29,041

29,041

29,041

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

20,196

21,270

23,768

23,594

27,470

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liability for guest loyalty program

81,291

46,698

45,882

44,923

54,188

52,327

50,085

48,592

51,749

48,701

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

0

0

0

39

0

0

139

292

719

721

779

506

1,794

-

-

0

0

0

9,196

5,149

11,722

-

-

10,864

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

3,282

3,467

6,387

3,465

4,766

37,096

38,285

38,918

45,265

42,043

64,182

37,337

36,966

38,853

37,367

34,975

37,160

68,583

82,490

62,102

68,840

69,904

63,871

39,493

23,392

23,808

24,146

23,700

19,257

15,990

16,391

16,042

15,633

16,060

14,427

17,296

16,995

17,274

15,894

12,283

9,787

Total liabilities

1,747,806

1,410,183

1,430,997

1,336,937

1,359,293

1,322,142

1,329,116

1,326,968

1,311,934

1,253,792

1,161,572

1,200,590

1,196,619

1,163,817

1,183,718

1,217,218

1,173,128

1,112,909

1,113,405

1,088,060

1,074,615

1,066,718

1,061,202

1,040,952

1,018,729

1,009,293

1,052,155

1,082,733

1,085,302

1,070,540

1,052,468

868,981

469,408

473,250

482,362

469,247

461,403

469,793

478,801

487,243

454,249

Commitments and Contingencies

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

-

-

-

Common stock, $0.01 par value; 160,000,000 shares authorized; 95,065,638 shares issued at March 31, 2020 and December 31, 2019; 55,340,423 and 55,702,628 shares outstanding at March 31, 2020 and December 31, 2019, respectively

951

951

951

951

951

951

951

951

951

951

951

951

951

951

951

951

951

951

951

576

576

573

582

584

584

586

586

585

585

582

581

580

581

583

592

598

598

596

596

596

595

Additional paid-in-capital

221,553

231,160

224,979

222,394

216,384

213,170

209,053

204,899

195,651

182,448

178,231

164,812

160,719

159,045

155,393

152,596

150,127

149,895

146,973

134,144

131,711

127,661

123,251

118,976

118,020

117,768

114,571

111,580

108,995

110,246

107,939

101,719

100,900

102,665

98,681

95,083

92,019

92,774

89,611

89,130

90,731

Accumulated other comprehensive loss

-5,214

-4,550

-5,683

-5,674

-5,438

-5,446

-5,317

-5,282

-3,629

-4,699

-5,034

-6,100

-7,739

-8,522

-7,096

-7,448

-7,035

-8,778

-8,548

-7,812

-8,203

-6,971

-5,928

-4,756

-5,481

-6,217

-5,373

-6,097

-4,233

-4,216

-5,904

-6,350

-6,154

-6,801

-6,720

-5,768

-6,482

-7,192

-7,545

-850

333

Treasury stock, at cost; 39,725,215 and 39,363,010 shares at March 31, 2020 and December 31, 2019, respectively

1,265,888

1,219,905

1,216,169

1,215,254

1,209,870

1,187,625

1,148,441

1,112,376

1,093,066

1,064,573

1,066,915

1,069,241

1,070,516

1,070,383

1,074,527

1,071,676

1,052,762

1,052,864

1,037,256

979,211

979,828

982,463

933,180

916,893

917,226

918,031

919,516

920,355

921,421

927,776

930,487

932,663

925,763

916,955

887,815

867,249

867,960

872,306

872,999

871,211

870,302

Retained earnings

1,004,744

968,833

939,187

874,923

812,496

795,178

775,675

707,856

640,176

627,272

692,387

656,961

624,098

607,560

587,837

551,749

522,854

514,897

497,237

466,836

442,251

432,399

418,260

389,579

364,969

353,023

340,269

294,266

276,745

282,526

258,474

825,471

804,260

794,947

780,821

749,394

732,795

728,057

714,843

685,300

664,431

Total shareholders’ deficit

-43,854

-23,511

-56,735

-122,660

-185,477

-183,772

-168,079

-203,952

-259,917

-258,601

-200,380

-252,617

-292,487

-311,349

-337,442

-373,828

-385,865

-395,899

-400,643

-385,467

-413,493

-428,801

-397,015

-412,510

-439,134

-452,871

-469,463

-520,021

-539,329

-538,638

-569,397

-11,243

-26,176

-25,561

-14,441

-27,942

-49,030

-58,071

-75,494

-97,035

-114,212

Total liabilities and shareholders’ deficit

1,703,952

1,386,672

1,374,262

1,214,277

1,173,816

1,138,370

1,161,037

1,123,016

1,052,017

995,191

961,192

947,973

904,132

852,468

846,276

843,390

787,263

717,010

712,762

702,593

661,122

637,917

664,187

628,442

579,595

556,422

582,692

562,712

545,973

531,902

483,071

857,738

443,232

447,689

467,921

441,305

412,373

411,722

403,307

390,208

340,037