Drive shack inc. (DS)
Income statement / 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'11Sep'10Jun'10
Revenues
Total revenues

61,135

-

74,682

71,615

53,952

-

87,419

91,004

66,660

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,295

7,315

10,351

-

9,133

9,565

24,282

28,732

26,931

40,826

38,622

36,951

44,536

48,494

44,734

42,024

39,806

38,393

34,038

38,493

31,042

Valuation allowance on loans

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,010

4,317

357

-

-4,015

1,526

1,246

-13,562

-12,998

-709

2,234

-16,427

4,094

-3,223

-9,031

23,055

17,644

-14,555

-41,307

-105,360

-91,534

Other-than-temporary impairment on securities and other investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

427

9,128

344

-

0

0

0

817

553

3,430

422

2,853

-236

10,859

5,883

-

-

-

-

-

-

Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23

234

-296

-

0

0

0

0

-553

480

117

1,477

1,156

863

-3,932

-

-

-

-

-

-

Other-than-temporary impairment on securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,478

5,537

5,784

3,112

3,616

33,925

Portion of other-than-temporary impairment on securities recognized in other comprehensive income (loss), net of the reversal of other comprehensive loss into net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,723

-1,531

-296

989

6,425

15,114

Total impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,460

-13,679

-405

-

4,015

-1,526

-1,246

12,745

12,998

-3,201

-2,773

12,097

-5,014

-8,499

7,080

-25,300

-21,650

9,067

37,206

95,319

42,495

Net interest income after impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,835

-6,364

9,946

-

13,148

8,039

23,036

41,477

39,929

37,625

35,849

-

-

-

-

-

-

-

-

-

-

Revenues
Net interest income (loss) after impairment/reversal

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39,522

39,995

51,814

16,724

18,156

47,460

71,244

133,812

73,537

Rental income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,607

11,721

12,887

-

6,660

515

509

-

0

-

-

-

-

Care and ancillary income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,763

2,292

613

-

-

-

-

-

-

-

-

-

-

Golf course operations

-

-

-

-

-

-

-

-

-

-

-

-

46,296

-

63,249

62,872

48,597

87,269

49,418

48,778

38,954

82,284

50,414

50,513

39,772

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Sales of food and beverages

-

-

-

-

-

-

-

-

-

-

-

-

12,845

-

19,913

21,612

13,561

17,446

20,035

20,944

13,012

16,221

18,871

19,923

13,539

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total revenues

-

-

-

-

-

-

-

-

-

70,402

81,691

81,360

59,141

69,076

83,162

84,484

62,158

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating costs
Operating costs
Realized and unrealized (gain) loss on investments

-

-

0

0

-

-

-48

89

-

-

-

-

-

-

-

-

-

-2,359

-3,168

26,776

1,015

19,061

7,763

40,435

2,334

10,985

1,388

5,066

-3

12

229,239

-1,177

4,823

2,847

5,636

35,606

34,092

-1,134

8,954

Operating expenses

-

-

92,010

83,171

-

-9,747

94,619

87,976

78,946

-14,216

86,012

87,113

73,887

87,192

82,382

89,706

78,774

67,404

90,529

87,944

72,220

9,037

93,326

92,077

81,780

-50,108

40,644

31,586

27,254

-640

19,354

11,809

8,587

8,813

7,166

7,404

6,850

7,185

7,580

Operating expenses

54,367

-

63,454

58,720

47,723

-

70,330

67,042

57,379

-

63,384

62,028

50,509

43,351

69,251

68,200

58,219

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loan and security servicing expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41

118

96

-

159

408

857

894

908

1,021

1,034

1,004

1,054

1,104

1,098

1,191

1,198

1,200

1,060

1,116

1,322

Property operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,542

8,409

8,670

-

5,043

231

225

-

0

-

-

-

-

Operating expenses - golf

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67,984

65,438

54,937

-

68,747

66,482

59,647

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cost of sales - food and beverages

3,655

4,759

3,856

3,904

2,698

4,740

5,180

6,193

4,040

5,197

5,721

6,009

4,032

4,454

6,026

6,516

4,597

-1,454

8,842

9,108

6,053

-2,146

8,420

8,807

5,956

-

-

-

-

-

-

-

-

-

-

-

-

-

-

General and administrative expense

9,818

9,995

12,755

13,607

11,619

8,951

10,149

10,268

9,192

8,680

8,188

7,058

7,487

18,826

3,688

3,723

2,937

2,961

3,876

3,487

1,713

4,388

3,132

4,767

3,564

-5,736

9,350

9,938

3,906

92

4,020

4,841

2,286

2,646

1,399

1,649

1,601

1,811

2,000

Management fee and termination payment to affiliate

-

-

-

-

-

-

-

-

-

13,378

2,678

2,677

2,677

2,677

2,676

2,676

2,675

-

2,675

2,674

2,668

4,186

5,664

5,296

5,893

3,178

7,166

8,148

9,565

6,152

6,852

5,631

4,976

4,976

4,569

4,555

4,189

4,258

4,258

Depreciation and amortization

6,794

6,627

5,723

5,122

4,924

5,346

4,495

4,315

5,548

6,352

6,187

5,972

5,793

7,246

6,735

6,484

6,031

7,651

7,111

7,119

6,753

7,583

7,204

6,317

5,863

-15,823

7,678

4,070

4,079

-

2,385

2

2

-

0

-

-

-

-

Pre-opening costs

552

1,811

4,350

1,700

1,179

435

245

247

1,556

129

141

50

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment and other losses

792

-

1,872

-

4,088

-

4,172

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment and other losses

-

-

-

118

-

-

-

0

1,473

0

28

32

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

611

645

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Impairment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,308

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain (Loss) on Investments, Excluding Other than Temporary Impairments

-

-

-

-

-

-

-

-

242

118

315

-3,287

-3,389

-3,821

6,605

-1,462

-2,007

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating costs

75,978

-

-

-

72,231

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating loss

-14,843

-20,121

-17,328

-11,556

-18,279

-9,976

-7,200

3,028

-12,286

-20,091

-4,321

-5,753

-14,746

-18,116

780

-5,222

-16,616

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income (expenses)
Other golf revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,411

13,081

8,860

-

12,209

12,301

9,321

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total operating revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

82,864

82,803

60,826

-

81,494

82,737

62,632

-51,883

24,370

14,013

13,500

-

-

-

-

-

-

-

-

-

-

Care and ancillary income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,411

0

0

-

0

-

-

-

-

Total other revenues

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,071

515

509

-

0

-

-

-

-

Other income (expenses)
Interest and investment income

130

155

191

265

344

412

467

469

446

461

8,418

6,395

7,888

17,521

32,310

20,421

21,039

21,538

23,010

24,265

27,078

23,738

27,544

29,893

46,452

42,070

47,486

62,824

61,332

57,149

72,947

77,956

74,899

73,557

72,393

74,143

72,203

81,040

74,183

Interest expense, net

-2,745

-2,751

-2,061

-1,795

-2,153

-3,699

-4,290

-4,601

-4,049

-4,246

-4,770

-5,131

-5,434

-13,779

-13,138

-12,417

-13,534

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,715

16,950

16,727

19,113

18,411

20,328

22,170

13,338

20,555

21,998

22,710

20,198

28,411

29,462

30,165

31,533

32,587

35,750

38,165

42,547

43,141

Gain (loss) on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

14,878

-

-

-

0

-3,410

-

0

3,359

0

1,206

958

2,345

39

20,743

5,708

15,917

33,443

11,042

46,624

46,728

Deconsolidation, Gain (Loss), Amount

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

82,130

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in earnings of Local Media Group

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Change in fair value of investments in excess mortgage servicing rights

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,216

-

0

0

-

-

-

Change in fair value of investments in equity method investees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

Other income, net

367

7,920

7,341

127

5,488

10,037

-3,052

-3,699

-406

-278

202

293

-123

-5,193

505

514

320

-7,934

277

2,597

-514

-14,732

4,855

4,682

13,474

3,735

1,963

3,024

4,567

3,744

2,424

-3,744

2,970

4,075

-2,751

-10,160

335

-8,828

-2,298

Total other income (expenses)

-2,248

5,324

5,471

-1,403

3,679

6,750

-6,875

-7,831

-4,009

-4,063

3,850

1,557

2,331

-1,451

19,677

8,518

89,955

1,633

11,987

29,373

501

-17,659

12,618

41,707

15,808

14,720

6,710

8,090

5,770

3,498

234,008

-4,882

29,752

12,630

18,802

58,889

45,469

36,662

53,384

Loss before income tax

-17,091

-14,797

-11,857

-12,959

-14,600

-3,226

-14,075

-4,803

-16,295

-24,154

-471

-4,196

-12,415

-19,567

20,457

3,296

73,339

-4,825

9,157

17,868

-947

-6,245

13,934

40,406

19,696

54,422

30,365

28,142

27,865

-

-

-

-

-

-

-

-

-

-

Income tax expense

300

441

200

0

0

284

0

0

0

-82

-2

510

539

45

-38

138

44

-985

1,257

27

46

64

0

4

140

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Loss) Income from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-3,840

7,900

17,841

-993

-6,309

13,934

40,402

19,556

54,422

30,365

28,142

27,865

44,091

262,247

23,819

73,488

20,541

29,792

98,945

109,863

163,289

119,341

Income from discontinued operations, net of tax - Note 3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,974

6,620

-17

155

151

190

-190

213

13

Income from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

524

115

-

-8,624

-8,504

-15,299

-23,061

-1,121

25,581

10,148

-

-

-

-

-

-

-

-

-

-

Net Loss

-17,362

-15,276

-12,019

-12,959

-14,600

-3,510

-14,075

-4,803

-16,295

-24,072

-469

-4,706

-12,954

-19,612

20,495

3,158

73,295

-3,840

7,907

18,365

-878

-9,071

5,310

31,898

4,257

31,361

29,244

53,723

38,013

-

-

-

-

-

-

-

-

-

-

Net Income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

273,221

30,439

73,471

20,696

29,943

99,135

109,673

163,502

119,354

Preferred dividends

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

1,395

Net (income) attributable to noncontrolling interest

-

-

-

-

-

-

-

-

-

-

-

-

-

92

177

112

-124

-76

13

-49

-181

-141

-21

-29

-661

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess of carrying amount of exchanged preferred stock over fair value of consideration paid

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Loss Applicable to Common Stockholders

-18,757

-16,671

-13,414

-14,354

-15,995

-4,905

-15,470

-6,198

-17,690

-25,467

-1,864

-6,101

-14,349

-21,099

18,923

1,651

72,024

-5,159

6,499

17,019

-2,092

-10,325

3,936

30,532

3,523

29,038

27,849

52,328

36,618

55,584

271,826

29,044

72,076

19,301

28,548

97,740

108,278

162,107

117,959

Loss Applicable to Common Stock, per share
Loss Applicable to Common Stock, per share
Basic (in dollars per share)

-0.28

-0.25

-0.20

-0.21

-0.24

-0.08

-0.23

-0.09

-0.26

-0.38

-0.03

-0.09

-0.21

-0.31

0.28

0.02

1.08

-0.09

0.10

0.26

-0.03

-0.19

0.06

0.52

0.06

2.23

0.57

0.20

0.16

15.30

1.65

0.21

0.68

-0.22

0.35

1.23

1.73

2.61

1.90

Diluted (in dollars per share)

-0.28

-0.25

-0.20

-0.21

-0.24

-0.08

-0.23

-0.09

-0.26

-0.38

-0.03

-0.09

-0.21

-0.30

0.27

0.02

1.05

-0.07

0.09

0.25

-0.03

-0.18

0.06

0.50

0.06

2.18

0.56

0.20

0.15

15.12

1.63

0.21

0.68

-0.22

0.35

1.23

1.73

2.61

1.90

Weighted Average Number of Shares of Common Stock Outstanding
Basic (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.09

0.10

0.25

-0.03

-0.17

0.20

0.67

0.32

2.11

0.59

0.10

0.11

14.13

1.59

0.17

0.68

-0.22

0.35

1.23

1.73

2.61

1.90

Diluted (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.07

0.09

0.24

-0.03

-0.16

0.20

0.65

0.31

2.05

0.58

0.10

0.11

13.97

1.57

0.17

0.68

-0.22

0.35

1.23

1.73

2.61

1.90

Basic (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.01

0.00

-0.02

-0.14

-0.15

-0.26

0.12

-0.02

0.10

0.05

1.17

0.06

0.04

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Diluted (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.01

0.00

-0.02

-0.14

-0.15

-0.26

0.12

-0.02

0.10

0.04

1.15

0.06

0.04

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)

67,069

67,060

67,040

67,029

67,027

67,027

66,992

66,977

66,977

66,964

66,932

66,874

66,841

66,773

66,730

66,681

66,654

66,580

66,484

66,426

66,424

66,499

62,329

58,599

58,575

-358,673

48,895

259,228

235,136

-307,436

164,237

134,115

105,181

105,626

80,425

79,282

62,602

62,024

62,010

Diluted (in shares)

67,069

67,060

67,040

67,029

67,027

67,027

66,992

66,977

66,977

66,964

66,932

66,874

66,841

68,896

69,072

68,899

68,284

69,892

69,069

69,204

66,424

67,670

63,865

60,477

60,511

-366,773

50,171

265,396

240,079

-310,094

166,429

135,172

105,670

105,626

80,441

79,282

62,611

62,024

62,010

Dividends Declared per Share of Common Stock (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

0.00

-

0.12

0.00

0.12

-

0.12

0.12

0.12

-

0.60

0.60

0.60

-

0.60

0.17

0.22

-

0.22

0.20

0.20

0.15

0.15

0.10

0.00

0.00

0.00

Golf operations
Total revenues

48,625

-

60,797

57,386

44,706

-

68,928

69,150

53,554

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Food and beverages
Total revenues

12,510

-

13,885

14,229

9,246

-

18,491

21,854

13,106

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-