Chesapeake lodging trust (CHSP)
CashFlow / TTM
Jun'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'11
Cash flows from operating activities:
Net income

93,099

98,668

96,966

111,340

76,914

74,765

76,235

60,780

67,774

74,655

76,706

79,290

80,523

76,026

67,508

61,616

63,124

60,328

60,954

63,643

54,198

50,006

45,318

43,677

33,467

25,463

27,177

20,231

16,925

9,909

9,036

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

74,691

75,014

75,585

75,912

76,660

76,651

76,230

76,116

75,450

74,964

74,661

74,378

73,981

73,300

69,743

65,241

59,401

53,996

51,567

49,945

49,814

48,128

44,469

40,521

35,401

31,240

28,931

26,734

24,838

21,928

18,382

0

0

0

Air rights contract amortization

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

520

0

0

0

Deferred financing costs amortization

1,496

1,532

1,588

1,645

1,701

1,699

1,682

1,689

1,729

1,791

1,850

1,881

1,879

1,874

1,882

1,908

1,941

2,203

2,448

2,685

2,911

2,937

2,837

2,695

2,571

2,261

2,081

1,966

1,997

2,102

2,189

0

0

0

Share-based compensation

7,575

7,547

7,562

7,501

7,435

7,455

7,497

8,028

8,589

9,123

9,507

9,154

8,665

8,226

7,644

7,132

6,727

6,269

5,803

5,465

5,154

4,805

4,612

4,275

3,877

3,516

3,165

3,156

3,200

3,218

3,094

0

0

0

Other

296

298

302

354

433

513

593

619

664

743

796

810

831

843

781

707

-567

-672

-677

-631

302

305

295

286

537

523

523

0

0

0

-

-

-

-

Changes in assets and liabilities:
Accounts receivable, net

-5,183

-483

-1,893

4,053

8,532

5,896

1,093

1,979

513

-1,828

4,363

298

-2,926

2,952

679

1,355

3,920

-2,616

-1,277

1,873

-1,803

2,883

2,543

2,648

7,141

1,700

197

3,004

2,315

1,724

-1,371

0

0

0

Prepaid expenses and other assets

-873

-2,239

-1,866

-1,143

35

857

1,976

2,163

722

1,525

-329

-1,252

696

756

4,154

5,189

4,157

2,894

342

2,085

4,416

4,029

3,305

831

926

-172

-18

-678

805

1,927

363

0

0

0

Accounts payable and accrued expenses

1,018

2,141

6,765

4,995

2,731

2,739

1,283

2,285

-1,631

-1,770

1,801

363

2,073

8,923

4,069

7,448

5,091

-900

3,766

1,365

958

6,317

7,203

6,962

11,936

8,494

6,552

5,933

4,143

4,123

2,472

0

0

0

Other liabilities

-31

-39

-127

1,390

1,402

1,592

1,667

159

144

-49

-47

-44

-42

5,960

5,961

5,964

5,965

-33

-30

-30

-28

773

774

776

778

-58

13

10

11

50

-18

0

0

0

Net cash provided by operating activities

151,019

154,698

159,207

149,013

140,446

140,238

143,535

144,816

150,676

158,196

159,570

165,088

168,400

170,278

151,713

142,578

128,253

115,771

119,634

113,260

110,984

106,641

99,962

96,033

79,946

69,385

67,737

55,702

48,278

38,093

36,708

0

0

0

Cash flows from investing activities:
Acquisition of hotels, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

255,249

407,541

407,541

305,884

152,292

0

0

229,117

331,058

377,407

562,109

332,992

231,051

0

0

0

-

-

-

-

Deposit on hotel acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

700

0

0

0

-

-

-

0

Receipt of deposit on hotel acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

700

700

700

700

0

0

0

0

-

-

-

-

Improvements and additions to hotels

39,168

40,694

41,898

43,165

45,016

48,827

55,051

56,405

51,739

44,554

32,015

24,300

21,638

27,715

36,782

49,726

68,112

78,451

87,182

76,225

61,687

45,311

28,235

25,827

22,147

23,675

23,847

19,446

14,049

7,962

3,389

0

0

0

Repayment of hotel construction loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,810

-6,478

-4,823

-2,268

7,810

0

0

0

-

-

-

-

Change in restricted cash

-

-

-

-

-

-

-

-

-

-

-

-1,377

5,685

2,373

-3,026

-4,355

-4,755

-73

2,164

8,389

8,981

9,324

10,775

9,957

8,292

7,164

7,051

4,183

6,459

6,929

6,900

0

0

0

Net cash used in investing activities

50,653

49,127

47,923

92,647

975

-2,836

-9,060

-55,595

-47,869

-39,758

-29,987

-20,895

-25,295

-125,595

-289,005

-410,881

-439,076

-358,590

-209,816

-94,823

-70,668

-283,752

-361,558

-404,713

-585,725

-359,563

-270,459

-382,895

-239,443

-497,361

-491,991

0

0

0

Cash flows from financing activities:
Proceeds from sale of common shares, net of underwriting fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

153,962

153,962

298,282

298,282

144,320

164,327

23,779

23,779

189,862

169,855

298,839

298,839

132,756

132,756

0

0

230,291

0

0

0

Payment of offering costs related to sale of common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

284

290

646

576

392

440

253

299

468

416

862

816

647

647

10

73

491

0

0

0

Borrowings under revolving credit facility

25,000

40,000

55,000

70,000

180,000

180,000

315,000

310,000

230,000

315,000

185,000

190,000

150,000

165,000

330,000

330,000

360,000

255,000

100,000

85,000

50,000

135,000

105,000

155,000

290,000

193,000

198,000

385,000

340,000

347,000

292,000

0

0

0

Repayments under revolving credit facility

100,000

110,000

120,000

180,000

105,000

315,000

310,000

270,000

280,000

230,000

235,000

235,000

235,000

80,000

220,000

250,000

275,000

255,000

100,000

80,000

100,000

100,000

155,000

125,000

348,000

348,000

293,000

0

0

0

-

-

-

-

Proceeds from issuance of mortgage debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

312,500

312,500

222,000

162,000

95,000

0

0

0

-

-

-

-

Scheduled principal payments on mortgage debt

13,227

13,091

13,188

12,826

12,920

12,787

137,657

137,528

137,345

136,453

10,940

10,468

10,045

10,336

10,271

10,161

70,051

69,942

69,837

69,731

8,914

7,405

5,726

4,093

3,045

2,624

2,317

0

0

0

-

-

-

-

Payment of deferred financing costs

-

-

-

-

-

-

1,783

1,788

1,857

988

952

935

853

-10

2,311

2,342

4,190

4,332

2,011

1,985

1,434

2,032

3,080

4,682

5,119

4,483

3,445

3,721

3,359

4,505

4,920

0

0

0

Deposit on loan application

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

0

0

-

-

0

0

-

-

-

-

Payment of dividends to common shareholders

96,529

96,426

95,069

95,032

94,995

94,957

95,909

95,806

95,702

95,598

94,480

94,417

91,410

88,405

81,111

73,973

68,167

62,362

58,892

55,072

51,825

48,579

44,516

40,660

36,138

31,618

29,290

26,949

26,313

25,677

22,936

0

0

0

Payment of dividends to preferred shareholders

-

-

-

-

-

-

7,320

9,742

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,688

9,634

7,212

4,790

2,368

0

0

0

-

-

-

-

Repurchase of common shares

4,370

4,370

4,353

1,159

1,159

1,172

1,078

3,891

3,891

3,878

3,020

283

291

291

1,787

3,965

3,965

3,965

2,705

1,109

1,111

1,111

1,769

1,272

1,262

1,262

795

621

621

621

209

0

0

0

Net cash used in financing activities

-189,133

-185,450

-179,173

-220,589

-163,140

-150,561

-138,747

-108,755

-107,513

-130,625

-141,300

-133,019

-135,507

-27,010

158,510

133,543

318,690

237,417

90,795

121,302

-43,029

105,555

257,115

321,598

528,631

382,318

214,956

214,849

184,281

286,188

465,692

0

0

0

Net decrease in cash, cash equivalents, and restricted cash

12,539

18,375

27,957

21,071

-21,719

-13,159

-4,272

-19,534

-4,706

-12,187

-11,717

11,174

7,598

17,673

21,218

-134,760

7,867

-5,402

613

139,739

-2,713

-71,556

-4,481

12,918

22,852

92,140

12,234

-112,344

-6,884

-173,080

10,409

0

0

0

Supplemental disclosure of cash flow information:
Cash paid for interest

30,811

31,605

32,894

33,155

33,724

32,657

31,828

30,803

30,361

30,392

30,620

30,863

30,854

31,096

29,668

28,321

26,877

25,312

24,976

24,675

24,431

23,664

22,421

21,188

19,643

18,979

18,830

18,180

16,361

12,801

9,629

0

0

0

Cash paid for income taxes

599

-254

-170

2,137

2,078

2,904

2,927

1,750

1,984

2,011

1,995

3,167

3,944

4,553

4,479

3,798

3,006

1,128

1,126

884

1,024

1,602

1,590

1,368

1,370

582

597

0

0

0

-

-

-

-

Assumption of mortgage debt related to hotel acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

125,000

125,000

125,000

125,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-