LASALLE HOTEL PROPERTIES LHO Income Statement

Lasalle hotel properties (LHO)

Income statement / TTM

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:
Hotel operating revenues (Note 8):
Room
770,889	765,625	768,344	791,287	813,188	841,926	864,827	867,882	866,955	863,191	860,352	849,523	833,127	821,140	796,425	773,801	759,453	727,066	688,423	667,444	641,711	619,529	607,626	595,330	564,268	529,983	496,802	471,023	458,912	435,348	409,345	388,108	384,182	378,324	0	0	0
Food and beverage
204,298	203,277	205,608	214,280	224,371	235,898	255,615	259,658	266,293	273,263	269,718	274,286	268,818	263,529	260,456	253,656	253,206	249,829	242,951	238,682	229,405	222,279	215,537	210,306	206,631	204,289	199,705	193,332	190,018	180,852	171,063	162,831	155,955	160,835	0	0	0
Other operating department
92,130	89,458	87,055	87,315	88,808	90,457	92,796	93,072	91,725	90,305	87,408	84,782	81,944	78,763	76,992	74,000	71,334	68,332	64,871	63,230	62,406	59,527	58,038	56,510	54,381	53,227	51,549	49,650	48,324	46,278	44,887	43,703	45,371	45,852	0	0	0
Total hotel operating revenues
1,067,317	1,058,360	1,061,007	1,092,882	1,126,367	1,168,281	1,213,238	1,220,612	1,224,973	1,226,759	1,217,478	1,208,591	1,183,889	1,163,432	1,133,873	1,101,457	1,083,993	1,045,227	996,245	969,356	933,522	901,335	881,201	862,146	825,280	787,499	748,056	714,005	697,254	662,478	625,295	594,642	585,508	585,011	0	0	0
Other income
15,823	12,638	12,426	11,933	10,430	9,596	8,682	7,007	7,839	8,827	8,407	7,993	7,817	6,566	7,844	8,321	8,021	8,771	8,208	7,937	7,392	6,590	5,259	4,929	5,110	5,022	4,920	5,002	4,520	4,909	5,248	5,715	6,057	16,247	0	0	0
Total revenues
1,083,140	1,070,998	1,073,433	1,104,815	1,136,797	1,177,877	1,221,920	1,227,619	1,232,812	1,235,586	1,225,885	1,216,584	1,191,706	1,169,998	1,141,717	1,109,778	1,092,014	1,053,998	1,004,453	977,293	940,914	907,925	886,460	867,075	830,390	792,521	752,976	719,007	701,774	667,387	630,543	600,357	591,565	601,258	0	0	0
Expenses:
Hotel operating expenses:
Room
214,193	212,320	211,706	214,843	218,821	222,689	226,381	226,349	225,538	222,479	219,514	215,944	210,459	206,520	201,989	196,952	193,261	185,828	176,655	170,555	163,150	157,901	154,295	150,564	141,149	132,407	124,350	115,839	113,562	107,908	101,552	95,271	92,388	90,798	0	0	0
Food and beverage
149,118	149,172	150,039	154,371	159,336	166,015	175,877	179,637	184,823	188,784	187,859	190,069	188,155	185,873	186,948	183,530	181,814	177,714	170,251	165,855	160,277	156,142	152,936	149,894	146,077	142,995	139,266	133,838	130,859	125,142	118,886	112,757	108,118	109,251	0	0	0
Other direct
12,344	11,454	10,669	11,920	13,391	15,160	17,479	16,978	16,925	17,323	17,277	17,514	19,107	20,919	22,539	23,800	23,779	23,153	22,604	22,445	22,101	21,614	21,174	20,778	20,496	20,732	20,640	20,390	20,052	19,651	19,313	18,753	19,590	19,889	0	0	0
Other indirect (Note 9)
270,859	268,490	270,614	278,076	286,373	295,900	303,006	305,265	304,987	304,323	302,917	301,004	291,533	283,185	274,087	264,508	262,265	254,664	244,074	237,386	229,321	221,732	217,695	212,001	204,031	197,910	190,869	182,771	179,186	170,849	161,562	153,678	148,768	150,145	0	0	0
Total hotel operating expenses
646,514	641,436	643,028	659,210	677,921	699,764	722,743	728,229	732,273	732,909	727,567	724,531	709,254	696,497	685,563	668,790	661,119	641,359	613,584	596,241	574,849	557,389	546,100	533,237	511,753	494,044	475,125	452,838	443,659	423,550	401,313	380,459	368,864	370,083	0	0	0
Depreciation and amortization
182,180	179,217	176,426	178,374	182,515	187,182	191,957	192,322	190,344	188,530	185,605	180,855	174,150	166,763	160,153	155,035	152,696	154,509	148,630	143,991	138,634	129,480	127,332	124,363	120,621	116,906	113,626	111,282	111,030	109,319	107,649	105,587	104,250	105,678	0	0	0
Real estate taxes, personal property taxes and insurance
65,307	64,370	62,151	62,238	63,250	60,500	63,330	63,406	63,130	66,262	65,695	65,438	63,926	60,759	58,785	57,805	57,961	57,572	55,974	53,374	50,244	48,009	46,094	44,551	41,885	39,830	37,751	35,425	32,488	31,745	31,342	30,897	33,113	31,586	0	0	0
Ground rent (Note 5)
16,586	16,584	16,162	15,718	15,692	15,474	15,759	16,187	16,403	16,324	16,227	16,076	15,812	15,600	15,396	14,667	13,601	12,571	11,555	11,117	10,510	9,888	9,307	8,588	8,472	8,330	8,153	7,720	7,141	6,366	5,765	5,825	6,435	6,229	0	0	0
General and administrative
26,301	26,463	26,713	26,751	26,926	26,527	27,253	26,529	25,805	25,902	24,760	25,197	24,969	25,074	24,607	23,832	23,581	22,816	22,346	22,001	21,358	21,017	20,302	19,769	18,836	17,849	16,928	17,120	19,955	19,950	19,953	18,802	14,029	14,154	0	0	0
Costs related to the Mergers and unsolicited takeover offers (Note 1)
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Costs related to unsolicited takeover offer
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition transaction costs (Note 3)
-	-	-	-	-	-	-	-	-	-	-	499	1,027	972	2,719	2,379	1,810	4,497	2,753	2,646	3,128	597	904	4,498	6,054	6,051	5,989	2,571	1,551	1,953	1,724	3,003	2,026	0	0	0	-
Other expenses
10,054	11,882	11,852	12,550	7,427	5,255	6,023	6,283	9,984	18,126	17,058	17,225	13,292	4,716	6,507	7,369	12,273	13,449	11,927	9,361	4,544	3,717	3,107	3,017	3,169	2,915	2,499	2,527	2,496	2,626	2,741	3,287	2,895	3,279	0	0	0
Total operating expenses
968,190	951,283	938,983	954,841	973,731	994,702	1,027,065	1,032,956	1,037,939	1,048,108	1,036,964	1,029,821	1,002,430	970,381	953,730	929,877	923,041	906,773	866,769	838,731	803,267	770,097	753,146	738,023	710,790	685,925	660,071	629,483	626,747	603,936	578,914	556,287	531,612	532,480	0	0	0
Operating income
114,950	119,715	134,450	149,974	163,066	183,175	194,855	194,663	194,873	187,478	188,921	186,763	189,276	199,617	187,987	179,901	168,973	147,225	137,684	138,562	137,647	137,828	133,314	129,052	119,600	106,596	92,905	89,524	75,027	63,451	51,629	44,070	59,953	68,778	0	0	0
Interest income
3,233	3,514	3,260	2,568	1,464	680	2,041	3,553	5,134	6,261	4,586	2,938	1,312	20	29	1,812	4,268	6,714	9,099	9,679	9,609	9,221	6,842	4,483	2,112	60	49	48	70	88	102	126	92	81	0	0	0
Interest expense
41,295	40,734	39,699	39,366	39,370	39,676	41,735	43,775	47,224	50,142	52,555	54,333	54,375	55,624	56,285	56,628	58,042	58,280	57,487	57,516	57,022	56,395	55,135	52,896	48,529	44,275	41,700	39,704	39,697	38,712	37,508	36,500	35,540	36,556	0	0	0
Loss from extinguishment of debt (Note 4)
0	0	0	-1,706	-1,706	-1,706	-1,706	0	0	0	0	-	-	-	-	2,487	-2,487	-2,487	-2,487	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger termination fee (Note 1)
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) income before income tax expense
-35,112	82,495	98,011	111,470	123,454	142,473	153,455	154,441	151,952	142,766	140,121	134,537	136,213	144,013	131,731	122,598	112,712	93,172	86,809	90,725	90,234	90,654	85,021	80,639	73,183	62,381	51,254	49,868	35,400	24,827	14,223	7,696	24,505	32,303	0	0	0
Income tax expense (Note 10)
3,307	2,435	2,445	1,699	2,893	4,024	6,631	5,784	3,591	-8	-2,044	-1,292	1,034	4,521	3,830	2,306	-523	-956	-905	470	4,623	7,002	7,037	9,062	8,298	6,480	6,580	7,048	5,898	5,115	4,262	5,075	6,854	11,757	0	0	0
(Loss) income before gain on sale of properties
-38,419	80,060	95,566	109,771	120,561	138,449	146,824	148,657	169,365	0	0	-	0	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of properties (Note 3)
0	31	11,187	85,545	85,474	189,992	178,836	104,478	104,549	0	0	-	0	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	42,820	29,502	19,712	9,961	2,621	17,651	0	0	0	-
Income from operations of properties disposed of
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	829	-4,876	-1,364	-1,135	-2,502	3,562	0	0	0	-
Income tax expense (Note 9)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33	-518	-1,244	-1,317	-1,651	-1,197	0	0	0	-
Net income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	796	-4,358	-120	182	-851	4,759	0	0	0	-
Net (loss) income
-38,419	80,091	106,753	195,316	206,035	328,441	325,660	253,135	252,910	142,774	142,165	135,829	135,179	189,149	221,106	213,497	206,440	137,676	87,714	90,255	85,611	83,652	77,984	71,577	65,352	56,884	45,683	43,616	25,144	19,592	10,143	1,770	22,410	20,551	0	0	0
Net income attributable to noncontrolling interests:
Redeemable noncontrolling interest in loss of consolidated entity (Note 3)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2	-157	-174	-165	-191	-38	-34	0	0	0
Noncontrolling interests in consolidated entities
0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling interests of common units in Operating Partnership (Note 6)
138	132	154	266	280	434	432	337	331	203	261	261	308	530	657	636	617	428	297	303	300	308	303	281	225	109	-21	1	0	0	0	-	-	-	-	0	0
Noncontrolling interests of preferred units in Operating Partnership (Notes 2 and 6)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Net income attributable to noncontrolling interests
0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-1	-16,788	-2,109	0	-	0	0	-	0	0
Net (loss) income attributable to the Company
-38,573	79,943	106,583	195,034	205,738	327,990	325,211	252,781	252,563	142,555	141,888	135,552	134,855	188,603	220,433	212,845	205,806	137,231	87,400	89,935	85,303	83,336	77,681	71,296	65,127	56,775	45,704	43,617	0	0	0	-	-	-	0	0	0
Distributions to preferred shareholders
16,463	16,463	16,735	18,024	19,312	20,601	20,569	18,206	15,844	13,482	12,169	12,169	12,169	12,168	13,268	14,333	15,398	16,462	16,427	17,385	17,444	17,504	19,396	21,733	24,969	28,205	29,608	29,952	29,238	28,525	27,811	26,754	26,754	26,754	0	0	0
Issuance costs of redeemed preferred shares (Note 6)
0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	0	0	-	-	0	0	-	-	0	0	-	731	-731	-731	-731	0	0	0	0	-	-
Net (loss) income attributable to common shareholders
-55,036	63,480	87,447	174,609	184,025	304,988	304,642	234,575	236,719	129,073	129,719	123,383	122,686	176,426	206,214	197,561	189,457	119,827	69,407	70,984	66,293	64,266	53,868	45,146	35,741	24,153	16,096	12,934	-4,668	-9,490	-18,234	-24,793	-4,319	-6,208	0	0	0
Earnings per Common Share - Basic (Note 12):
Net income attributable to common shareholders before discontinued operations and excluding amounts attributable to unvested restricted shares, Basic (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	0.17	0.20	-0.26	-0.15	0.07	0.11	-0.38	0.04	-
Discontinued operations, Basic (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.01	0.00	0.00	-0.06	0.07	0.00	-0.02	0.01	-
Net (loss) income attributable to common shareholders excluding amounts attributable to unvested restricted shares (in dollars per share)
-0.79	0.29	-0.10	0.11	0.27	0.49	0.67	0.19	1.34	0.49	0.05	0.21	0.39	0.49	0.00	0.22	0.94	0.82	-0.09	0.14	0.30	0.37	-0.08	0.11	0.31	0.29	-0.19	0.04	0.18	0.20	-0.26	-0.21	0.14	0.11	-0.40	0.05	0.16
Earnings per Common Share - Diluted (Note 12):
Net income attributable to common shareholders before discontinued operations and excluding amounts attributable to unvested restricted shares, Diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04	0.17	0.20	-0.26	-0.15	0.07	0.11	-0.38	0.04	-
Discontinued operations, Diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.01	0.00	0.00	-0.06	0.07	0.00	-0.02	0.01	-
Net (loss) income attributable to common shareholders excluding amounts attributable to unvested restricted shares (in dollars per share)
-0.79	0.28	-0.10	0.11	0.27	0.49	0.67	0.19	1.34	0.49	0.05	0.21	0.39	0.49	0.00	0.21	0.94	0.82	-0.09	0.14	0.30	0.37	-0.08	0.11	0.31	0.29	-0.19	0.04	0.18	0.20	-0.26	-0.21	0.14	0.11	-0.40	0.05	0.16
Weighted average number of common shares outstanding:
Basic (in shares)
110,124	110,115	112,163	113,018	113,007	112,951	112,923	112,822	112,811	112,784	112,748	112,633	112,731	112,728	112,647	105,566	103,798	103,698	103,691	101,643	95,890	95,465	95,166	87,203	85,876	85,451	84,499	83,557	84,640	82,220	74,202	72,672	71,246	69,296	64,981	63,002	50,920
Diluted (in shares)
110,124	110,552	112,163	113,424	113,383	113,342	113,306	113,277	113,159	113,113	113,108	113,458	113,137	113,141	112,647	106,333	104,133	104,024	103,691	102,036	96,082	95,630	95,166	87,414	86,056	85,617	84,499	83,978	84,752	82,372	74,202	72,472	71,345	69,398	64,981	63,078	50,999
Comprehensive (Loss) Income:
Net (loss) income
-38,419	80,091	106,753	195,316	206,035	328,441	325,660	253,135	252,910	142,774	142,165	135,829	135,179	189,149	221,106	213,497	206,440	137,676	87,714	90,255	85,611	83,652	77,984	71,577	65,352	56,884	45,683	43,616	25,144	19,592	10,143	1,770	22,410	20,551	0	0	0
Other comprehensive income:
Unrealized gain (loss) on interest rate derivative instruments (Note 4)
20,015	18,252	12,900	5,815	12,857	15,512	11,216	-4,160	-14,116	-21,533	-15,536	-5,682	-14,338	-8,542	-12,785	-8,276	-4,683	-8,579	6,719	8,127	8,956	7,462	-8,314	-9,833	-8,534	-4,695	0	-	0	0	-	-	-	-	-	-	-
Reclassification adjustment for amounts recognized in net (loss) income (Note 4)
1,107	-518	-1,719	-2,710	-3,508	-4,598	-5,830	-6,625	-6,772	-6,206	-5,545	-4,835	-6,489	-6,531	-6,563	-4,410	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive (loss) income
-19,511	98,861	121,372	203,841	222,400	348,551	342,706	255,600	245,566	127,447	132,174	134,982	127,330	187,138	214,884	209,631	207,136	133,363	97,598	102,630	96,641	93,188	71,744	63,818	71,177	68,364	0	-	0	0	-	-	-	-	-	-	-
Comprehensive income attributable to noncontrolling interests:
Redeemable noncontrolling interest in loss of consolidated entity (Note 3)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-
Noncontrolling interests in consolidated entities
0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling interests of common units in Operating Partnership (Note 6)
162	156	173	276	301	459	453	340	322	184	252	259	293	527	640	625	618	414	326	340	337	339	284	257	195	92	0	-	0	0	-	-	-	-	-	-	-
Comprehensive income attributable to noncontrolling interests
0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-
Comprehensive (loss) income attributable to the Company
-19,689	98,689	121,183	203,549	222,082	348,075	342,236	255,243	245,228	127,247	131,906	134,707	127,021	186,595	214,228	208,990	206,501	132,932	97,255	102,273	96,296	92,841	71,460	63,561	70,982	68,272	0	-	0	0	-	-	-	-	-	-	-