Chatham lodging trust (CLDT)
CashFlow / 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'11
Cash flows from operating activities:
Net (loss) income

-28,111

-2,371

10,098

9,525

1,628

-174

14,691

13,485

2,868

5,458

14,509

5,069

4,644

2,677

13,446

12,250

3,322

4,521

14,392

12,846

1,419

-5,333

8,832

65,314

-1,732

-116

2,541

2,175

-1,618

-2,374

1,498

1,157

-1,731

-6,195

-955

-1,936

-19

Adjustments to reconcile net income to net cash (used in) operating activities:
Depreciation

13,000

12,750

12,861

12,937

12,710

12,188

11,903

11,863

11,978

11,559

10,890

11,661

11,950

11,969

11,944

12,228

12,421

12,782

12,509

12,016

11,477

10,717

10,239

7,335

6,288

5,716

4,707

4,002

3,737

3,393

3,380

4,104

3,321

3,304

3,381

3,792

1,431

Amortization of deferred franchise fees

61

61

62

62

62

61

59

59

58

56

54

53

54

54

53

54

53

53

51

47

46

40

34

29

28

26

21

21

19

19

19

19

18

-

-

-

-

Amortization of deferred financing fees included in interest expense

227

228

228

225

231

222

221

220

239

254

253

-119

260

264

264

280

268

326

425

452

403

395

388

355

394

279

253

248

308

357

499

512

472

462

456

644

13

Impairment loss on investment in unconsolidated real estate entities

15,300

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-8

0

0

4

-412

0

0

0

-368

0

0

184

-1,866

0

0

933

-

-

-

-

-

-

-

-

Loss on write-off of deferred franchise fee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

64

-

-

-

-

-

-

-

-

Deferred tax expense (benefit)

-

-

-

-

-

-

-

-

-

30

0

0

-426

426

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

33

-

-

-

-

Amortization of deferred fees included in interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

307

Share based compensation

1,206

1,211

1,211

1,238

1,059

1,048

1,048

1,196

918

999

999

999

787

757

761

760

735

733

747

651

704

631

627

628

585

496

509

532

548

519

517

527

440

393

393

542

243

Accelerated share based compensation for employee severance

287

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) from unconsolidated real estate entities

-3,673

9,898

-2,784

457

-1,123

-62

688

-504

754

449

-1,189

-927

85

628

-1,051

-942

647

132

-1,466

-1,333

256

2,359

-845

2,000

316

480

674

89

631

1,382

195

-703

565

-

-

-

-

Distributions from unconsolidated entities

-

-

-

-

-

-

-

-

-

-1,334

1,282

719

0

-6,611

2,542

3,482

587

-7,179

3,247

2,640

1,292

1,131

473

0

449

837

12,194

908

0

308

1,684

6,115

13,095

-

-

-

-

Changes in assets and liabilities:
Right of use asset

-155

1,073

-153

-152

-155

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Hotel receivables

-1,829

-4,836

1,977

2,238

723

-1,931

-561

1,685

1,244

-3,638

398

584

2,303

-2,863

966

-797

2,647

-3,051

2,021

-156

1,504

-976

344

639

-250

-83

-53

319

-115

232

84

-221

-54

-87

649

148

312

Deferred costs

16

-13

0

30

0

134

-38

30

117

57

834

20

24

0

0

94

0

0

-28

478

130

282

336

266

-130

375

414

73

-369

187

-12

-13

-14

-57

234

274

-355

Prepaid expenses and other assets

3,407

-1,493

-351

-930

3,082

-1,326

-675

-1,104

3,041

-1,952

-753

-86

2,435

-1,547

-1,167

-1,056

1,482

71

1,087

-171

1,290

-600

99

-604

1,223

-870

-98

126

504

-1,368

1,400

84

312

-650

224

613

446

Accounts payable and accrued expenses

-6,932

-4,731

6,186

-1,031

240

-3,134

4,582

-647

1,013

-1,553

4,925

-898

1,219

-2,534

4,630

-847

749

-1,209

3,657

161

1,383

718

3,934

1,467

-242

2,160

1,395

870

94

222

-537

484

-2,772

810

2,547

1,000

-669

Lease liability

-114

678

-100

-95

-92

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by operating activities

-2,860

16,553

31,852

24,518

13,311

14,784

33,444

24,561

13,426

20,081

29,962

21,983

14,663

17,809

30,248

25,542

14,070

17,154

27,235

24,689

12,764

11,772

22,430

10,126

4,978

9,619

9,837

7,419

4,696

4,467

4,099

6,283

36

585

4,732

2,726

903

Cash flows from investing activities:
Improvements and additions to hotel properties

6,110

5,517

9,626

8,975

11,741

8,108

10,549

5,813

6,947

8,709

8,659

7,812

5,053

5,401

5,321

7,181

4,593

6,652

4,525

4,684

4,470

4,812

2,398

4,514

3,207

5,024

4,026

4,050

3,078

4,056

622

1,933

1,979

3,082

2,079

3,325

4,235

Investment in hotel properties under development

6,197

5,322

4,399

2,503

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of hotel properties, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

79,292

0

90,155

107,438

32,011

265,288

0

111,841

43,036

40,005

34,764

-

-

-

-

-

-

-

-

Investment in unconsolidated real estate entities

-

-

-

-

-

-

-

-

1,019

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,425

1,088

2,147

2,754

-3,781

3,861

2,654

-3,271

7,241

2,774

681

-457

2,376

418

-681

351

-274

-797

-1,630

-2,542

-9,256

12,226

393

Net cash used in investing activities

-12,307

-8,879

-21,875

-2,080

-11,741

-55,917

-30,567

-3,989

-5,928

-83,987

-57,241

-12,130

-5,053

876

-5,204

-4,787

-6,153

-3,682

-76,789

-5,905

-95,987

-135,796

-41,177

-272,576

-3,439

-115,571

-37,244

-45,214

-37,161

-32,097

1,336

4,979

12,746

-37,540

-54,804

-15,551

-4,628

Cash flows from financing activities:
Borrowings on revolving credit facility

86,000

15,000

25,000

9,000

25,500

66,000

24,000

6,000

53,000

47,000

58,000

8,000

16,000

10,000

9,000

8,950

15,500

66,580

60,000

0

5,000

88,000

36,000

88,000

38,000

99,000

46,500

22,000

66,500

32,000

1,500

0

5,000

-

-

-

-

Repayments on revolving credit facility

3,000

11,000

18,000

27,000

10,000

14,500

21,000

13,000

51,000

90,000

28,000

19,500

12,000

10,500

22,280

13,250

10,500

61,000

0

5,000

22,500

65,500

134,000

45,000

33,000

97,500

28,500

88,000

49,500

1,000

6,500

8,500

10,500

2,000

53,000

5,000

37,800

Payments on mortgage debt

2,297

2,271

1,857

1,259

1,308

1,261

1,213

1,198

1,227

1,066

1,024

1,012

1,058

1,016

975

925

859

875

782

772

810

658

631

623

719

725

634

453

354

467

375

402

450

506

188

78

81

Proceeds from the issuance of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

54,475

30,000

222,000

34,000

47,580

0

44,175

72,858

-

-

-

-

-

-

-

-

Principal prepayment of mortgage debt

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

5,954

0

0

0

4,760

0

0

0

32,186

0

0

0

100,130

-

-

-

-

-

-

-

-

Payment of financing costs

0

0

0

0

48

1

1

22

931

0

0

0

0

0

0

32

18

1,661

77

108

266

465

589

375

156

1,396

44

285

680

1,193

5

200

54

45

898

563

37

Payment of offering costs

2

2

6

175

26

3

258

2

255

1,337

300

315

197

67

7

0

1

3

38

68

1,933

272

6,279

281

230

592

3,050

3,706

3,040

122

2

1

152

0

0

0

4,153

Proceeds from issuance of common shares

92

99

80

7,000

119

125

13,680

144

10,537

120,955

12,865

16,737

134

138

152

104

88

42

8

7

120,782

4,701

155,879

10,972

0

8,946

59,639

81,354

52,812

-

-

-

-

0

0

0

73,600

In-substance repurchase of vested common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

22

0

0

0

18

0

0

0

7

-

-

-

-

-

-

-

-

Distributions-common shares/units

16,237

15,712

15,712

15,633

15,603

15,543

15,390

15,337

15,320

13,877

13,106

12,829

12,805

12,687

12,776

12,773

14,730

11,576

11,575

11,566

10,547

8,236

6,512

6,129

5,630

5,541

4,793

3,745

5,345

2,836

2,832

2,478

2,464

2,464

2,463

2,464

1,656

Net cash provided by (used in) financing activities

64,556

-13,886

-10,495

-28,067

-1,366

34,817

-182

-23,415

-5,196

61,581

28,435

-8,919

-9,926

-14,223

-26,886

-17,926

-16,474

-8,493

47,536

-17,507

84,944

72,045

73,868

268,564

61

49,772

69,118

51,340

33,114

26,382

-8,214

-11,581

-8,620

33,485

43,251

-3,120

29,873

Net change in cash, cash equivalents and restricted cash

49,389

-6,212

-518

-5,629

204

-6,316

2,695

-2,843

2,302

-2,325

1,156

934

-316

4,462

-1,842

2,829

-8,557

4,979

-2,018

1,277

1,721

-51,979

55,121

6,114

1,600

-56,180

41,711

13,545

649

-1,248

-2,779

-319

4,162

-3,470

-6,821

-15,945

26,148

Supplemental disclosure of cash flow information:
Cash paid for interest

6,835

6,669

6,852

6,964

6,789

6,431

6,348

6,354

6,195

6,663

6,581

6,733

6,564

6,578

6,772

6,757

6,729

6,648

6,451

6,227

6,182

5,794

5,373

3,869

3,260

2,577

2,351

2,505

2,736

2,932

2,139

4,258

3,348

3,742

1,823

185

447

Capitalized interest

277

219

152

74

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

4

157

176

407

8

31

123

731

2

26

390

288

6

257

0

485

0

34

31

55

40

0

55

75

90

0

27

0

50

-

-

-

-

138

14

-5

15