SERVICE PROPERTIES TRUST HPT Income Statement

Service properties trust (HPT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Minimum rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	63,736	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues
483,776	580,906	599,772	610,562	524,908	550,799	603,153	611,951	528,633	535,142	577,588	570,603	488,602	479,278	543,516	550,299	474,118	467,440	511,886	507,066	435,512	430,533	459,639	451,900	394,250	384,792	412,275	412,322	354,466	322,311	330,068	343,183	301,420	295,851	318,689	313,809	281,984	267,791	281,198	282,391	254,108	264,423	267,060
Expenses:
Hotel operating expenses
271,148	333,644	377,895	381,703	317,685	332,476	365,526	374,081	314,982	309,096	343,274	339,549	282,723	279,299	322,012	324,922	276,305	273,292	308,603	304,428	257,658	254,183	279,560	270,778	230,617	224,527	249,862	248,543	206,649	173,133	184,566	193,219	150,021	145,771	168,278	152,814	129,753	113,537	128,601	130,057	105,400	120,364	122,799
Other operating expenses
3,759	-	1,707	-	1,440	-	1,468	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
127,926	126,727	103,160	99,196	99,365	102,769	101,007	99,684	99,617	99,848	98,205	95,155	93,451	91,150	90,139	88,782	87,271	85,964	84,261	80,582	78,969	79,179	79,649	78,763	78,287	77,397	76,048	73,598	72,280	68,625	66,566	64,277	61,363	57,292	57,106	57,630	56,314	58,829	57,997	60,726	60,537	61,311	61,085
General and administrative
14,024	17,733	12,464	12,207	12,235	66,582	13,425	13,121	11,734	49,305	13,404	30,347	32,346	7,978	37,739	37,365	16,023	56,017	19,831	12,685	21,304	4,468	16,798	13,166	11,465	12,931	13,094	11,918	12,144	11,699	10,336	11,475	10,522	10,217	11,292	10,190	9,264	9,566	10,082	9,731	9,582	10,378	10,109
Acquisition and transaction related costs
-	-	-	-	-	-	-	-	-	-	-	-	-	482	156	117	612	389	851	797	338	2	14	162	61	93	1,090	1,814	276	2,525	84	504	1,060	-	387	763	-	-	-	-	-	-	-
Loss on asset impairment
16,740	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,837	2,171	-	7,658	0	0	889	-	-	7,263	-	-	-	16,384	-	-	-
Total expenses
433,597	524,405	495,226	493,106	430,725	505,649	481,426	486,886	426,333	463,154	454,883	465,051	408,520	378,909	450,046	451,186	380,211	415,662	413,546	398,492	358,269	337,832	376,021	362,869	320,430	314,948	345,931	338,044	291,349	263,640	261,552	269,475	223,855	223,436	237,063	228,660	195,331	329,229	196,680	216,898	175,519	192,053	193,993
Income before gain on sale of real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	51,812	-	-	-	61,185	72,131	-	-	49,197	53,785	-	-	27,567	45,353	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on sale of real estate
-6,911	0	0	0	159,535	0	0	0	0	-	9,348	-	-	-	0	-	-	-	-	11,015	-	-	-	130	-	-	-	-	-	-	10,602	-	-	-	-	-	-	-	-	-	-	-	-
Dividend income
0	0	0	876	876	876	626	626	626	626	626	626	626	626	626	749	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income (loss)
-	-	-	-	-	-	-	-	-	-	-	105,552	80,082	-	93,470	99,113	93,907	51,778	98,340	108,574	77,243	92,701	83,618	89,031	73,820	69,844	66,344	74,278	63,117	58,671	68,516	73,708	77,565	72,415	81,626	85,149	86,653	-61,438	84,518	65,493	78,589	72,370	73,067
Unrealized gains (losses) on equity securities, net
-5,045	3,300	-3,950	-60,788	20,977	-106,085	43,453	20,940	24,955	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
262	441	688	449	637	435	478	323	292	208	211	122	257	47	89	40	98	12	11	10	11	14	13	25	25	24	18	60	19	35	116	51	66	16	11	14	29	44	33	33	150	28	22
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $3,288 and $2,570 respectively)
71,075	73,384	52,375	49,601	49,766	49,624	49,308	48,741	47,540	46,250	46,574	45,189	43,566	37,349	41,280	41,698	41,586	36,980	36,628	35,836	35,454	35,385	34,304	34,941	34,856	37,766	37,986	35,014	35,188	34,451	34,854	32,714	34,092	33,927	33,513	33,331	33,339	33,345	33,475	34,987	36,905	34,943	35,026
Gain (Loss) on Extinguishment of Debt
-	-	-8,451	0	-	-	0	-160	-	-	0	0	-	-140	-158	0	70	-	-	-	-	0	129	0	726	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-6,720	-	11,209	13,333
Income (loss) before income taxes and equity in earnings of an investee
-32,590	-13,142	40,458	8,392	226,442	-109,248	116,976	98,053	80,633	26,426	86,316	61,111	37,399	63,693	52,747	58,204	52,349	-19,323	61,723	72,748	41,800	57,330	49,198	54,115	38,263	32,102	28,376	39,324	27,948	13,417	44,495	41,121	43,584	38,393	48,152	51,878	53,380	-94,722	51,110	23,795	41,806	48,641	51,396
Income Tax Expense (Benefit)
342	1,527	467	-260	1,059	-754	707	771	471	-5,045	619	786	356	537	948	2,160	375	121	514	640	291	835	39	455	616	-535	873	-5,950	518	-2,296	-163	3,435	636	314	621	235	332	-1,766	878	585	941	375	376
Equity in earnings (losses) of an investee
-718	-224	83	130	404	-366	830	7	44	74	31	374	128	30	13	17	77	-50	-24	23	72	28	38	125	-97	115	64	79	76	80	115	76	45	28	28	46	37	17	34	-24	-28	-23	-
Net income (loss)
-33,650	-14,893	40,074	8,782	225,787	-108,860	117,099	97,289	80,206	31,545	85,728	60,699	37,171	63,186	51,812	56,061	52,051	-19,494	61,185	83,146	41,581	56,523	49,197	53,915	37,550	32,752	27,567	45,353	27,506	26,631	44,658	37,686	42,948	38,218	47,531	51,643	53,048	-	50,232	-	-	-	-
Other comprehensive income (loss):
Unrealized gain on investment in available for sale securities
-	-	-	-	-	-	-	-	-	19,392	7,273	-8,968	21,618	3,701	14,032	19,676	17,545	-33,475	-15,458	-8,858	16,484	9,370	3,420	2,497	-5,438	5,233	-7,849	3,429	12,420	-1,677	737	-3,225	5,308	1,829	-4,877	-3,505	5,852	-	-	-	-	-	-
Equity interest in investee’s unrealized gains (losses)
0	0	-46	71	66	-158	173	10	-93	165	116	58	121	327	-80	-43	-52	-71	72	64	-45	12	33	-23	-19	-17	-13	73	8	9	-35	3	1	-17	-15	-39	-4	-	-	-	-	-	-
Other comprehensive income (loss)
0	0	-46	71	66	-158	173	10	-93	19,557	7,389	-8,910	21,739	3,678	14,112	19,719	17,597	-33,404	-15,530	-8,922	16,529	9,364	3,387	2,520	-5,419	5,250	-7,836	3,356	12,412	-1,686	772	-3,228	5,307	1,846	-4,862	-3,466	5,856	-	-	-	-	-	-
Comprehensive income (loss)
-33,650	-14,893	40,028	8,853	225,853	-109,018	117,272	97,299	80,113	51,102	93,117	51,789	58,910	66,864	65,924	75,780	69,648	-52,898	45,655	74,224	58,110	65,887	52,584	56,435	32,131	38,002	19,731	48,709	39,918	24,945	45,430	34,458	48,255	40,064	42,669	48,177	58,904	-	-	-	-	-	-
Net income
-33,650	-14,893	40,074	8,782	225,787	-108,860	117,099	97,289	80,206	31,545	85,728	60,699	37,171	63,186	51,812	56,061	52,051	-19,494	61,185	83,146	41,581	56,523	49,197	53,915	37,550	32,752	27,567	45,353	27,506	26,631	44,658	37,686	42,948	38,218	47,531	51,643	53,048	-92,956	50,232	23,210	40,865	48,266	51,020
Preferred distributions
-	-	-	-	-	-	-	-	-	0	0	0	1,435	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,166	5,199	8,097	8,097	8,097	10,138	10,722	11,188	7,470	7,470	7,470	7,470	7,470	7,470	7,470	7,470	7,470	7,470
Excess of liquidation preference over carrying value of preferred shares redeemed
-	-	-	-	-	-	-	-	-	0	0	0	9,893	0	0	0	0	-	-	-	-	-	-	-	-	-	5,627	-	-	0	5,040	0	2,944	-	-	-	-	-	-	-	-	-	-
Net income available for common shareholders
-	-	-	-	-	-	-	-	-	31,545	85,728	60,699	25,843	58,020	46,646	50,895	46,885	-24,660	56,019	77,980	36,415	51,357	44,031	48,749	32,384	27,586	16,741	37,256	19,409	18,534	29,480	26,964	28,816	30,748	40,061	44,173	45,578	-100,426	42,762	15,740	33,395	40,796	43,550
Weighted average common shares outstanding (basic) (in shares)
164,370	164,365	164,321	164,284	164,278	164,280	164,232	164,205	164,199	164,192	164,149	164,123	164,120	164,221	157,217	151,408	151,402	151,425	151,359	150,260	149,792	149,760	149,665	149,610	149,573	-	139,764	-	-	-	-	-	-	-	123,465	123,450	123,444	123,444	123,399	123,389	123,380	118,780	95,344
Weighted average common shares outstanding (diluted) (in shares)
164,370	164,364	164,348	164,326	164,322	164,296	164,274	164,243	164,219	164,198	164,188	164,165	164,149	164,232	157,263	151,442	151,415	151,424	151,386	150,292	150,906	149,781	150,007	149,789	149,691	-	139,764	-	-	-	-	-	-	-	123,465	123,450	123,444	123,444	123,399	123,389	123,380	118,780	95,344
Weighted average common shares outstanding (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	139,743	125,426	-	123,577	123,560	123,523	-	-	-	-	-	-	-	-	-	-
Net income per common share (basic and diluted) (in dollars per share)
-0.20	-0.08	0.24	0.05	1.37	-0.66	0.71	0.59	0.49	0.19	0.52	0.37	0.16	0.35	0.30	0.34	0.31	-0.16	0.37	0.52	0.24	0.34	0.29	0.33	0.22	-	-	0.27	0.15	0.15	0.24	0.22	0.23	-	-	-	-	-	-	-	-	-	-
Basic net income available for common shareholders per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	-	-	-	-	-	-	-	0.32	0.36	0.37	-0.82	0.35	0.13	0.27	0.34	0.46
Diluted net income available for common shareholders per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	-	-	-	-	-	-	-	0.32	0.36	0.37	-0.82	0.35	0.13	0.27	0.34	0.46
Hotel [Member]
Total revenues
383,503	467,352	525,290	541,668	454,863	463,105	520,618	529,599	445,276	447,834	495,550	489,209	408,236	399,709	464,981	471,910	396,503	393,090	437,171	436,977	369,596	362,600	394,973	387,248	329,936	320,533	348,908	349,877	291,651	238,957	251,722	265,068	224,985	218,253	242,995	230,335	197,537	177,463	193,626	195,967	169,307	184,595	187,211
Rental income
Total revenues
100,072	112,180	73,619	67,764	68,673	86,473	81,322	81,018	81,993	86,162	80,896	80,239	79,139	78,578	77,470	77,293	76,259	73,374	73,747	69,063	64,751	67,103	63,837	63,736	63,386	65,067	62,731	61,856	62,212	79,491	73,915	73,688	73,260	74,504	72,305	78,240	79,533	84,997	81,695	80,593	79,486	75,136	74,935
FF&E reserve income
Total revenues
201	1,374	863	1,130	1,372	1,221	1,213	1,334	1,364	1,146	1,142	1,155	1,227	991	1,065	1,096	1,356	976	968	1,026	1,165	830	829	916	928	-808	636	589	603	3,863	4,431	4,427	3,175	3,094	3,389	5,234	4,914	5,331	5,877	5,831	5,315	4,692	4,914