SUMMIT HOTEL PROPERTIES, INC. INN Income Statement

Summit hotel properties, inc. (INN)

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	Sep'11	Jun'11
Revenues:
Revenues
108,385	133,781	133,685	142,930	138,952	132,509	142,340	152,222	140,199	131,745	136,587	129,056	117,989	110,322	118,336	127,195	118,082	110,039	125,091	120,677	107,648	99,141	109,256	105,525	89,544	77,956	82,174	79,105	59,723	37,832	43,070	43,478	37,320	40,436	55,134
Expenses:
Property taxes, insurance and other
11,698	11,421	10,696	10,695	11,408	11,089	10,220	11,032	10,998	10,048	10,189	8,813	8,369	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other indirect
-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,312	32,929	30,629	29,666	31,893	31,688	28,727	26,891	26,451	27,410	24,207	21,782	20,784	20,267	15,303	11,203	11,292	11,387	10,146	10,354	13,610
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	193	167	-	155	221	201	243	274
Total hotel operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	73,530	76,757	74,138	72,889	78,394	75,277	69,268	66,777	68,192	66,609	59,919	54,112	53,783	50,687	39,760	27,323	28,438	28,905	25,776	27,758	36,744
Depreciation and amortization
27,079	26,928	23,202	23,779	25,536	25,872	24,941	24,954	25,246	23,875	23,594	19,732	18,726	18,691	17,887	17,685	18,143	17,469	15,916	15,403	15,264	16,010	16,435	16,257	15,061	12,080	13,872	12,727	10,651	7,732	7,647	7,711	7,555	8,108	9,827
Corporate general and administrative
4,668	6,180	5,532	5,920	5,990	4,430	4,852	5,620	6,607	4,599	4,550	5,310	5,138	4,934	4,388	5,391	4,579	4,429	6,897	5,363	4,515	4,520	5,742	5,417	4,205	-	2,954	-	-	-	-	-	-	-	-
Provision for credit losses
2,530	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Salaries and other compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,294	2,421	-	1,645	1,622	938	791	1,066
Other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,729	656	-	824	409	883	625	1,513
Hotel property acquisition costs
-	-	-	-	-	-	-	-	-	0	0	0	354	683	527	1,728	554	296	837	113	0	-9	69	17	692	332	114	786	654	1,055	245	1,170	580	181	-
Loss on impairment of assets
800	836	0	1,685	0	-	0	0	-	-	-	-	-	-	577	-	-	-	1,115	-	-	-	8,187	660	-	-	1,369	-	-	-	-	-	-	-	-
Total expenses
113,722	121,573	114,410	119,060	120,317	116,912	120,176	124,792	121,665	113,305	114,214	104,541	99,422	95,564	96,909	101,561	97,414	95,083	103,159	96,156	89,047	87,298	98,625	88,960	79,877	69,399	72,092	68,223	54,142	40,022	38,799	39,817	35,732	37,466	49,453
Debt transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	228	-	-	-	-
Equity based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	302
(Loss) gain on disposal of assets, net
-3	5,763	-31	35,520	4,166	-640	24,826	17,331	-43	-322	7,725	16,350	19,456	-142	10,491	2,726	36,780	65,779	-1	-208	-503	-	-	-	-	-	-	0	6	-	-12	-187	-	0	-36
Operating (loss) income
-5,340	17,971	19,244	59,390	22,801	14,957	46,990	44,761	18,491	61,649	22,373	24,515	18,567	64,613	21,427	25,634	20,668	14,956	21,932	24,521	18,601	11,843	10,631	16,565	9,667	8,557	10,082	10,882	5,581	-2,190	4,271	3,661	1,588	2,970	5,680
Other income (expense):
Interest expense
11,012	10,962	9,450	9,766	10,852	11,365	10,848	10,402	9,329	8,201	7,768	6,927	6,791	6,859	6,626	7,123	7,483	7,429	8,083	7,655	7,247	7,319	7,235	7,234	6,729	7,114	5,948	4,879	4,050	3,592	3,938	4,184	3,195	3,337	6,416
Other income, net
2,106	2,217	1,808	146	1,301	1,363	1,327	3,470	789	931	-116	568	2,395	706	661	853	340	10,419	-58	546	239	-488	797	199	87	-1,994	-184	63	160	-	22	475	-	-	-
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18	17	-	18	1	1	0	14
Gain (loss) on derivative financial instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-	-	-	-1	-	-	-
Total other income (expense)
-8,906	-8,745	-7,642	-9,620	-9,551	-10,002	-9,521	-6,932	-8,540	-50,801	-159	9,991	15,060	-56,150	4,526	-3,544	29,637	68,769	-8,142	-7,317	-7,511	-7,416	-6,438	-7,035	-6,642	-8,788	-6,132	-4,796	-3,867	-3,777	-4,138	-3,896	-3,194	-3,336	-6,437
(Loss) income from continuing operations before income taxes
-14,246	9,226	11,602	49,770	13,250	4,955	37,469	37,829	9,951	10,848	22,214	34,506	33,627	8,463	25,953	22,090	50,305	83,725	13,790	17,204	11,090	4,427	4,193	9,530	3,025	-231	3,950	6,086	1,714	-5,967	133	-235	-1,606	-366	-757
Income Tax Expense (Benefit)
2,000	424	-24	700	400	-922	-500	200	300	1,061	-231	423	421	-1,911	-1,245	135	1,571	-1,033	184	903	499	-90	427	329	78	3,625	1,120	-39	188	-529	21	-73	-147	-1	497
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,517	3,766	9,201	2,947	-3,856	2,830	6,125	1,526	-5,438	112	-162	-1,459	-364	-1,254
Income from discontinued operations, net of taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	214	-59	-41	378	1,780	-3,410	545	357	4,688	1,529	-194	-1,346	406	244
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-16,214	8,753	11,626	49,069	12,900	5,757	38,001	37,677	9,691	9,787	22,445	34,083	33,206	10,374	27,198	21,955	48,734	84,758	13,606	16,301	10,591	4,731	3,707	9,160	3,325	-2,076	-580	6,670	1,883	-750	1,641	-356	-2,805	41	-1,010
Noncontrolling Interest in Net Income (Loss) Operating Partnerships, Redeemable
-37	7	15	112	23	1	100	101	3	18	55	114	120	2	115	90	249	599	66	97	57	6	-6	61	-10	-189	-213	133	-28	72	79	-275	-1,070	11	-272
Joint venture
-855	-	77	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	124	-123	-8	272	89	-37	-	-	-	-	-	-
Net (loss) income attributable to Summit Hotel Properties, Inc.
-15,322	9,242	11,534	48,957	12,877	5,756	37,901	37,576	9,688	9,769	22,390	33,969	33,086	10,372	27,083	21,865	48,485	84,159	13,540	16,204	10,534	4,725	3,713	8,975	3,458	-1,879	-639	6,448	1,948	-822	1,562	-81	-1,735	30	-737
Preferred Stock Dividends, Income Statement Impact
3,709	3,710	3,710	3,709	3,709	3,709	3,710	3,709	5,543	4,808	4,200	4,200	4,200	4,945	4,993	4,147	4,147	4,147	4,147	4,147	4,147	4,147	4,147	4,147	4,147	4,147	4,147	3,844	2,452	1,156	1,156	1,157	1,156	-	-
Premium on redemption of preferred stock
-	-	0	0	-	0	0	0	3,277	2,572	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income attributable to common stockholders
-19,031	5,532	7,824	45,248	9,168	2,047	34,191	33,867	868	2,389	18,190	29,769	28,886	3,302	22,090	17,718	44,338	80,012	9,393	12,057	6,387	578	-434	4,828	-689	-6,026	-4,786	2,604	-504	-1,978	406	-1,238	-2,891	30	-737
Earnings Per Share [Abstract]
Basic and diluted net income (loss) per share from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.01	0.06	-0.01	-	-0.02	0.03	-0.01	-0.15	-0.03	-0.03	-0.07	-0.01	-0.04
Basic and diluted net income per share from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.05	0.01	-	0.12	0.04	-0.01	-0.04	0.01	0.01
Basic and diluted (in dollars per share)
-0.18	-	0.07	-	0.09	-	0.33	-	0.01	-	-	-	0.31	-	-	-	0.51	-	-	-	0.07	-	-0.01	0.06	-0.01	-	-0.07	0.04	-0.01	-0.03	0.01	-0.04	-0.11	0.00	-0.03
Basic (in dollars per share)
-	-	-	0.43	-	-	-	0.33	-	-	0.18	0.30	-	-	0.25	0.20	-	-	0.11	0.14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (in dollars per share)
-	-	-	0.43	-	-	-	0.32	-	-	0.17	0.30	-	-	0.25	0.20	-	-	0.11	0.14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted Average Number of Shares Outstanding, Basic
103,995	103,968	103,935	103,896	103,749	103,683	103,666	103,643	103,500	103,425	103,253	98,184	92,762	88,211	86,492	86,433	86,360	86,150	85,995	85,831	85,704	85,403	85,303	85,165	85,097	84,987	68,157	65,480	62,684	45,766	31,308	30,516	27,278	27,278	-
Weighted Average Number of Shares Outstanding, Diluted
103,995	104,012	103,970	103,937	103,837	103,765	103,821	103,883	103,899	103,552	103,632	98,706	93,230	87,446	87,401	87,355	87,170	87,628	87,065	87,008	86,875	86,201	85,303	85,663	85,097	83,790	68,614	65,954	62,950	45,431	31,501	30,658	27,278	27,278	-
Basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,278
Room
Revenues
98,603	122,474	123,112	131,656	128,100	121,788	131,429	140,650	129,572	121,824	127,246	120,514	110,350	102,613	110,777	119,285	110,595	102,771	118,292	113,714	101,425	93,085	103,155	99,680	84,552	73,505	78,010	75,123	56,641	35,719	41,312	41,842	35,727	39,589	54,008
Cost of goods and services sold
24,573	28,093	27,898	28,413	27,840	28,752	30,854	31,113	29,005	28,280	28,976	26,455	25,004	14,399	28,705	26,985	27,269	27,181	29,428	27,729	25,506	25,108	26,365	25,985	23,692	21,210	21,927	20,744	16,510	11,363	11,388	11,904	10,475	11,789	15,925
Food and beverage
Revenues
4,884	5,945	5,540	6,280	6,020	5,562	5,817	6,517	6,329	5,641	5,465	5,294	4,959	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of goods and services sold
4,037	4,833	4,493	4,688	4,538	4,401	4,684	5,107	4,999	4,457	4,444	3,909	3,924	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
Revenues
4,898	5,362	5,033	4,994	4,832	5,159	5,094	5,055	4,298	4,280	3,876	3,248	2,680	-12,068	7,559	7,910	7,487	7,268	6,799	6,963	6,223	6,056	6,101	5,845	4,992	4,451	4,164	3,982	3,082	2,113	1,758	1,636	1,593	846	1,125
Cost of goods and services sold
35,283	39,987	38,913	39,422	39,859	37,700	40,437	41,578	39,458	37,805	38,284	35,259	33,178	85,824	15,513	16,843	16,240	16,042	17,073	15,860	15,035	14,778	15,376	13,214	12,020	11,480	11,072	9,483	7,780	5,334	5,603	5,393	4,954	5,371	6,934
Management fees
Cost of goods and services sold
3,072	3,295	3,676	4,458	5,146	3,593	4,188	5,388	5,352	4,241	4,177	5,063	4,729	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-