Summit hotel properties, inc. (INN)
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
OPERATING ACTIVITIES
Net (loss) income

53,234

82,348

79,352

105,727

94,335

91,126

95,156

79,600

76,006

99,521

100,108

104,861

92,733

108,261

182,645

169,053

163,399

125,256

45,229

35,330

28,189

20,923

14,116

9,829

7,339

5,897

7,224

9,444

2,418

-2,270

1,477

-121

838

-4,177

0

0

0

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

100,988

99,445

98,389

100,128

101,303

101,013

99,016

97,669

92,447

85,927

80,743

75,036

72,989

72,406

71,184

69,213

66,931

64,052

62,593

63,116

63,975

63,776

59,815

57,802

54,864

51,289

48,950

43,027

37,881

34,871

0

0

0

-

-

-

0

Amortization of deferred financing costs

1,561

1,485

1,519

1,689

1,860

1,973

1,964

2,006

1,998

2,022

2,071

2,054

2,098

2,143

2,098

2,007

1,888

1,723

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on impairment of assets

3,321

2,521

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,044

9,521

2,367

3,533

2,965

0

0

0

-

-

-

-

Provision for credit losses

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of prepaid lease

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

73

73

73

73

47

47

47

47

0

0

0

Equity-based compensation

6,342

6,219

6,064

5,933

5,790

6,665

6,771

6,941

6,984

5,887

5,502

5,033

4,558

4,221

3,987

4,927

4,910

4,753

4,649

3,764

3,693

3,524

3,351

2,622

2,170

2,124

2,038

1,960

1,500

1,205

909

692

479

480

0

0

0

Deferred tax asset, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-136

-127

4,842

3,376

3,839

3,948

-2,252

-458

-1,234

-1,801

0

0

0

-

-

-

-

Realization of deferred gain

-

-

-

-

-

-

-

-

-

15,000

15,000

18,000

20,000

5,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on disposal of assets, net

41,249

45,418

39,015

63,872

45,683

41,474

41,792

24,691

23,710

28,209

28,389

28,155

12,531

44,855

110,776

103,284

102,350

65,067

-550

-293

-118

446

3,704

2,670

2,729

4,308

0

0

0

-

-

-

-

-

-

-

-

Non-cash interest income

2,761

2,477

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Debt transaction costs

1,180

1,892

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-428

-469

-1,262

-645

-1,146

-770

-111

-663

-256

-285

-804

86

967

-180

642

-1,108

-2,214

-1,287

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Restricted cash - operating

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,523

-893

-59

-18

-420

-371

-383

631

1,864

2,822

3,869

1,309

2,686

991

-544

69

-116

-76

-492

-785

0

0

0

Trade receivables, net

-12,081

-511

-5,327

457

2,905

-2,787

2,946

2,957

4,244

5,032

5,947

3,227

1,824

2,655

2,915

2,466

2,597

1,727

433

-671

-260

419

2,192

1,414

-65

1,753

2,727

4,491

6,079

1,424

849

1,757

2,218

394

0

0

0

Prepaid expenses and other

-217

-552

2,102

76

880

1,127

1,542

1,504

2,004

2,454

-82

206

-1,881

626

453

-2,396

2,255

-28

-1,600

1,681

-544

-3,618

-15,648

-392

3,178

3,654

17,068

2,922

-831

1,043

2,157

663

2,428

-1,637

0

0

0

Accounts payable

1,530

-314

329

-560

-486

-424

-885

-368

-1,718

-491

228

-363

1,620

1,676

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Accrued expenses and other

-15,886

1,257

-903

1,084

458

1,341

4,855

4,807

7,867

4,595

2,235

1,802

3,738

2,803

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and Accrued expenses and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

2,499

7,933

14,714

9,259

0

0

0

-

-

-

-

-

-

-

-

NET CASH PROVIDED BY OPERATING ACTIVITIES

125,544

148,478

152,305

152,537

154,145

161,651

160,243

162,170

154,680

147,849

140,927

137,292

143,115

136,740

148,223

146,679

136,311

132,216

119,498

108,428

101,277

102,139

105,202

86,311

82,658

72,436

56,329

56,479

42,882

34,703

28,184

25,294

25,229

24,146

0

0

0

INVESTING ACTIVITIES
Acquisition of hotel properties and land

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Acquisition of land held for development

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,800

0

0

0

-

-

-

-

-

-

-

-

Improvements to hotel properties

53,070

59,268

63,795

68,538

70,900

66,610

61,462

53,886

41,852

37,191

36,587

38,181

41,065

42,433

39,863

35,362

36,773

43,197

41,935

42,016

39,484

42,432

54,311

61,386

63,739

53,222

45,252

36,022

31,083

29,396

0

0

0

-

-

-

-

Payments to Acquire Real Estate

-

-

-

-

-

-

0

0

528,355

-

499,794

502,667

195,999

244,714

252,374

249,086

345,700

236,518

153,671

184,449

88,827

177,820

231,064

143,102

320,231

441,573

539,399

554,823

397,489

216,892

0

0

0

-

-

-

-

Investment in hotel properties under development

-

-

-

-

-

13,430

17,247

21,956

20,379

20,993

15,954

9,865

5,088

0

0

0

0

-

-

0

0

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

Purchases of office furniture and equipment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

93

179

398

0

0

0

-

-

-

-

-

0

0

0

Proceeds from asset dispositions, net

154,414

165,724

144,405

206,252

115,340

104,030

103,419

69,196

105,819

120,733

120,882

104,108

52,784

145,347

295,299

284,444

257,531

150,054

7,804

16,733

16,599

19,280

30,902

30,424

46,333

52,850

41,011

34,195

35,083

25,887

18,422

16,789

358

361

0

0

0

Funding of real estate loans

9,533

8,363

8,228

1,500

11,411

16,245

33,180

33,180

23,269

17,935

0

0

0

27,500

27,500

27,500

27,500

2,634

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from principal payments on real estate loans

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Increase) decrease in restricted cash - FF&E reserve

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,814

-4,930

-9,358

-11,304

-5,982

-23,080

-17,605

-16,275

-15,502

10,499

8,713

22,291

19,168

14,402

15,784

2,091

0

0

0

-

-

-

0

Decrease in escrow deposits for acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH USED IN INVESTING ACTIVITIES

-184,568

-182,164

38,133

58,357

-50,607

-63,057

-243,560

-249,179

-498,036

-511,708

-393,740

-415,642

-157,986

-151,440

-789

-23,623

-143,093

-131,112

-207,548

-194,970

-112,653

-200,548

-238,977

-194,734

-346,452

-467,434

-586,966

-584,835

-422,887

-233,005

-80,652

-82,246

-118,041

-83,486

0

0

0

Proceeds from issuance of debt

480,000

360,000

480,000

495,000

590,000

815,000

652,640

827,640

837,640

667,640

640,000

470,000

355,000

405,000

369,999

508,407

725,407

600,407

528,008

419,603

197,603

263,601

427,501

450,093

604,243

587,245

363,819

271,724

93,109

130,659

142,585

134,585

176,476

65,383

0

0

0

Repayments of Debt

305,892

302,287

605,311

616,363

603,390

723,098

456,142

611,201

575,464

452,082

487,086

359,214

340,162

424,545

515,795

601,137

650,426

550,150

382,271

278,523

136,224

115,829

246,624

430,819

422,516

497,801

323,406

100,263

89,411

82,312

121,029

120,975

114,087

268,716

0

0

0

Proceeds from equity offerings, net of issuance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

381,795

568,954

416,469

416,784

178,858

0

0

0

-

-

-

0

Redemption of preferred stock

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

91,146

90,783

90,241

90,190

90,131

92,245

92,242

91,630

91,023

85,635

82,355

77,703

71,705

66,713

62,002

59,127

57,639

57,602

57,469

57,482

57,023

56,550

56,033

53,574

51,241

47,594

0

0

0

-

-

-

-

-

-

-

-

Proceeds from contribution by non-controlling interests in joint venture

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Financing fees on debt and other issuance costs

3,828

3,840

4,001

4,004

3,162

3,978

2,161

3,539

3,351

1,953

1,642

199

131

1,948

2,098

3,034

4,198

2,250

2,148

1,212

384

782

1,671

1,995

2,623

3,421

2,858

2,610

2,607

2,394

2,342

2,578

5,176

4,276

0

0

0

Repurchase of common shares for withholding requirements

474

839

839

839

834

2,724

2,724

2,724

2,997

961

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-931

-764

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid and distributions to members

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

147,949

30,963

-206,628

-216,396

-107,517

-92,045

94,033

112,994

323,087

370,291

270,633

234,219

53,013

21,876

-138,897

-83,582

12,213

-10,359

85,226

81,777

3,366

90,284

123,079

115,738

279,555

427,724

565,824

551,146

389,925

201,745

45,636

38,986

88,071

61,900

0

0

0

Net change in cash, cash equivalents and restricted cash

88,925

-2,723

-16,190

-5,502

-3,979

6,549

10,716

25,985

-20,269

6,432

17,820

-44,131

38,142

7,176

8,537

39,474

5,431

-9,255

-2,824

-4,765

-8,010

-8,125

-10,696

7,315

15,761

32,726

35,187

22,790

9,920

3,443

-6,830

-17,965

-4,740

2,560

0

0

0

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest

39,746

41,648

40,527

41,568

42,200

38,743

36,158

33,257

29,897

27,362

26,973

25,883

25,260

26,156

26,087

27,736

28,798

28,927

29,319

28,219

27,809

26,925

25,221

24,407

22,092

19,989

18,594

16,430

16,129

15,592

14,856

14,386

13,118

18,852

0

0

0

Accrued improvements to hotel properties

0

-

0

0

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capitalized interest

-

-

-

-

-

446

575

674

467

301

172

73

21

0

-1

-1

9

75

143

213

274

253

340

362

368

400

0

0

0

-

-

-

-

-

-

-

-

Cash payments for income taxes, net of refunds

847

-229

-279

-585

-422

839

772

782

835

623

693

823

1,213

1,228

2,549

2,073

2,381

2,436

1,209

1,540

861

926

737

622

735

681

723

792

394

433

0

0

0

-

-

-

0

Mortgage debt assumed for acquisitions of hotel properties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43,172

43,172

43,172

53,281

33,532

0

0

0

-

-

-

-

-

-

-

-

Fair value of common units issued for acquisition of hotel

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,685

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-