Chatham lodging trust (CLDT)
CashFlow / TTM
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

-10,859

18,880

21,077

25,670

29,630

30,870

36,502

36,320

27,904

29,680

26,899

25,836

33,017

31,695

33,539

34,485

35,081

33,178

23,324

17,764

70,232

67,081

72,298

66,007

2,868

2,982

724

-319

-1,337

-1,450

-5,271

-7,724

-10,817

-9,105

0

0

0

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

51,548

51,258

50,696

49,738

48,664

47,932

47,303

46,290

46,088

46,060

46,470

47,524

48,091

48,562

49,375

49,940

49,728

48,784

46,719

44,449

39,768

34,579

29,578

24,046

20,713

18,162

15,839

14,512

14,614

14,198

14,109

14,110

13,798

11,908

0

0

0

Amortization of deferred franchise fees

246

247

247

244

241

237

232

227

221

217

215

214

215

214

213

211

204

197

184

167

149

131

117

104

96

87

80

78

76

75

0

0

0

-

-

-

-

Amortization of deferred financing fees included in interest expense

908

912

906

899

894

902

934

966

627

648

658

669

1,068

1,076

1,138

1,299

1,471

1,606

1,675

1,638

1,541

1,532

1,416

1,281

1,174

1,088

1,166

1,412

1,676

1,840

1,945

1,902

2,034

1,575

0

0

0

Impairment loss on investment in unconsolidated real estate entities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on early extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

-408

-408

-408

-412

-368

-368

-368

-184

-1,682

-1,682

-1,682

-933

0

0

0

-

-

-

-

-

-

-

-

Loss on write-off of deferred franchise fee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

64

0

0

0

-

-

-

-

-

-

-

-

Deferred tax expense (benefit)

-

-

-

-

-

-

-

-

-

-396

0

0

0

426

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Amortization of deferred fees included in interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Share based compensation

4,866

4,719

4,556

4,393

4,351

4,210

4,161

4,112

3,915

3,784

3,542

3,304

3,065

3,013

2,989

2,975

2,866

2,835

2,733

2,613

2,590

2,471

2,336

2,218

2,122

2,085

2,108

2,116

2,111

2,003

1,877

1,753

1,768

1,571

0

0

0

Accelerated share based compensation for employee severance

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) from unconsolidated real estate entities

3,898

6,448

-3,512

-40

-1,001

876

1,387

-490

-913

-1,582

-1,403

-1,265

-1,280

-718

-1,214

-1,629

-2,020

-2,411

-184

437

3,770

3,830

1,951

3,470

1,559

1,874

2,776

2,297

1,505

1,439

0

0

0

-

-

-

-

Distributions from unconsolidated entities

-

-

-

-

-

-

-

-

-

667

-4,610

-3,350

-587

0

-568

137

-705

0

8,310

5,536

2,896

2,053

1,759

13,480

14,388

13,939

13,410

2,900

8,107

21,202

0

0

0

-

-

-

-

Changes in assets and liabilities:
Right of use asset

613

613

0

0

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Hotel receivables

-2,450

102

3,007

469

-84

437

-1,270

-311

-1,412

-353

422

990

-391

-47

-235

820

1,461

318

2,393

716

1,511

-243

650

253

-67

68

383

520

-20

41

-278

287

656

1,022

0

0

0

Deferred costs

33

17

164

126

126

243

166

1,038

1,028

935

878

44

118

94

94

66

450

580

862

1,226

1,014

754

847

925

732

493

305

-121

-207

148

-96

150

437

96

0

0

0

Prepaid expenses and other assets

633

308

475

151

-23

-64

-690

-768

250

-356

49

-365

-1,335

-2,288

-670

1,584

2,469

2,277

1,606

618

185

118

-152

-349

381

-338

-836

662

620

428

1,146

-30

499

633

0

0

0

Accounts payable and accrued expenses

-6,508

664

2,261

657

1,041

1,814

3,395

3,738

3,487

3,693

2,712

2,417

2,468

1,998

3,323

2,350

3,358

3,992

5,919

6,196

7,502

5,877

7,319

4,780

4,183

4,519

2,581

649

263

-2,603

-2,015

1,069

1,585

3,688

0

0

0

Lease liability

369

391

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash (used in) provided by operating activities

70,063

86,234

84,465

86,057

86,100

86,215

91,512

88,030

85,452

86,689

84,417

84,703

88,262

87,669

87,014

84,001

83,148

81,842

76,460

71,655

57,092

49,306

47,153

34,560

31,853

31,571

26,419

20,681

19,545

14,885

11,003

11,636

8,079

8,946

0

0

0

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

30,228

35,859

38,450

39,373

36,211

31,417

32,018

30,128

32,127

30,233

26,925

23,587

22,956

22,496

23,747

22,951

20,454

20,331

18,491

16,364

16,194

14,931

15,143

16,771

16,307

16,178

15,210

11,806

9,689

8,590

7,616

9,073

10,465

12,721

0

0

0

Investment in hotel properties under development

18,421

12,224

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of hotel properties, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

169,447

276,885

229,604

494,892

404,737

409,140

420,165

194,882

229,646

0

0

0

-

-

-

-

-

-

-

-

Investment in unconsolidated real estate entities

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,414

2,208

4,981

5,488

-537

10,485

9,398

7,425

10,239

5,374

3,018

1,656

2,464

-186

-1,401

-2,350

-5,243

-14,225

-1,202

821

0

0

0

Net cash used in investing activities

-45,141

-44,575

-91,613

-100,305

-102,214

-96,401

-124,471

-151,145

-159,286

-158,411

-73,548

-21,511

-14,168

-15,268

-19,826

-91,411

-92,529

-182,363

-314,477

-278,865

-545,536

-452,988

-432,763

-428,830

-201,468

-235,190

-151,716

-113,136

-62,943

-13,036

-18,479

-74,619

-95,149

-112,523

0

0

0

Cash flows from financing activities:
Borrowings on revolving credit facility

135,000

74,500

125,500

124,500

121,500

149,000

130,000

164,000

166,000

129,000

92,000

43,000

43,950

43,450

100,030

151,030

142,080

131,580

153,000

129,000

217,000

250,000

261,000

271,500

205,500

234,000

167,000

122,000

100,000

38,500

0

0

0

-

-

-

-

Repayments on revolving credit facility

59,000

66,000

69,500

72,500

58,500

99,500

175,000

182,000

188,500

149,500

70,000

64,280

58,030

56,530

107,030

84,750

76,500

88,500

93,000

227,000

267,000

277,500

309,500

204,000

247,000

263,500

167,000

145,000

65,500

26,500

27,500

74,000

70,500

97,800

0

0

0

Payments on mortgage debt

7,684

6,695

5,685

5,041

4,980

4,899

4,704

4,515

4,329

4,160

4,110

4,061

3,974

3,775

3,634

3,441

3,288

3,239

3,022

2,871

2,722

2,631

2,698

2,701

2,531

2,166

1,908

1,649

1,598

1,694

1,733

1,546

1,222

853

0

0

0

Proceeds from the issuance of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

340,475

333,580

303,580

125,755

164,613

0

0

0

-

-

-

-

-

-

-

-

Principal prepayment of mortgage debt

-

-

-

-

-

-

-

-

-

-

-

-

-

5,954

5,954

5,954

5,954

4,760

4,760

4,760

4,760

32,186

32,186

32,186

32,186

100,130

0

0

0

-

-

-

-

-

-

-

-

Payment of financing costs

0

48

49

50

72

955

954

953

931

0

0

0

32

50

1,711

1,788

1,864

2,112

916

1,428

1,695

1,585

2,516

1,971

1,881

2,405

2,202

2,163

2,078

1,452

304

1,197

1,560

1,543

0

0

0

Payment of offering costs

185

209

210

462

289

518

1,852

1,894

2,207

2,149

879

586

271

75

11

42

110

2,042

2,311

8,552

8,765

7,062

7,382

4,153

7,578

10,388

9,918

6,870

3,165

277

155

153

152

4,153

0

0

0

Proceeds from issuance of common shares

7,271

7,298

7,324

20,924

14,068

24,486

145,316

144,501

161,094

150,691

29,874

17,161

528

482

386

242

145

120,839

125,498

281,369

292,334

171,552

175,797

79,557

149,939

202,751

0

0

0

-

-

-

-

73,600

0

0

0

In-substance repurchase of vested common shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22

22

22

22

18

18

18

18

7

0

0

0

-

-

-

-

-

-

-

-

Distributions-common shares/units

63,294

62,660

62,491

62,169

61,873

61,590

59,924

57,640

55,132

52,617

51,427

51,097

51,041

52,966

51,855

50,654

49,447

45,264

41,924

36,861

31,424

26,507

23,812

22,093

19,709

19,424

16,719

14,758

13,491

10,610

10,238

9,869

9,855

9,047

0

0

0

Net cash provided by (used in) financing activities

12,108

-53,814

-5,111

5,202

9,854

6,024

32,788

61,405

75,901

71,171

-4,633

-59,954

-68,961

-75,509

-69,779

4,643

5,062

106,480

187,018

213,350

499,421

414,538

392,265

387,515

170,291

203,344

179,954

102,622

39,701

-2,033

5,070

56,535

64,996

103,489

0

0

0

Net change in cash, cash equivalents and restricted cash

37,030

-12,155

-12,259

-9,046

-6,260

-4,162

-171

-1,710

2,067

-551

6,236

3,238

5,133

-3,108

-2,591

-2,767

-4,319

5,959

-50,999

6,140

10,977

10,856

6,655

-6,755

676

-275

54,657

10,167

-3,697

-184

-2,406

-6,448

-22,074

-88

0

0

0

Supplemental disclosure of cash flow information:
Cash paid for interest

27,320

27,274

27,036

26,532

25,922

25,328

25,560

25,793

26,172

26,541

26,456

26,647

26,671

26,836

26,906

26,585

26,055

25,508

24,654

23,576

21,218

18,296

15,079

12,057

10,693

10,169

10,524

10,312

12,065

12,677

13,487

13,171

9,098

6,197

0

0

0

Capitalized interest

722

445

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for income taxes

744

748

622

569

893

887

882

1,149

706

710

941

551

748

742

519

550

120

160

126

150

170

220

220

192

117

77

0

0

0

-

-

-

-

162

0

0

0