PEBBLEBROOK HOTEL TRUST PEB Cash Flow

Pebblebrook hotel trust (PEB)

CashFlow / TTM

Mar'20	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
Operating activities:
Net income (loss)
0	-5,476	13,385	124,660	125,314	110,689	100,262	106,752	40,646	71,414	73,962	78,534	152,317	104,462	94,995	88,091	80,282	76,592	73,543	68,433	55,521	47,559	43,192	39,425	34,003	29,099	26,508	27,401	21,134	15,406	15,199	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	108,475	99,063	99,508	100,896	102,290	103,568	103,765	103,674	102,439	101,344	100,582	99,608	95,872	89,665	82,416	73,761	68,324	64,337	60,912	58,247	55,570	52,799	49,883	46,316	42,794	40,261	38,243	35,837	30,945	0	0	0
Share-based compensation
0	8,345	6,228	6,166	4,059	4,250	5,646	5,998	7,751	7,752	8,466	7,902	7,948	8,026	8,331	10,072	11,213	11,227	11,695	9,602	7,519	6,606	5,222	5,322	4,883	4,592	4,215	3,432	3,166	2,894	2,654	0	0	0
(Gain) loss on derivative instruments
-	-	-	-	-	-	-	-	-	2,118	283	-324	-1,872	-1,771	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs, non-cash interest and mortgage loan premiums
0	19,226	18,256	3,729	2,379	2,159	2,040	2,019	1,957	1,836	1,513	783	415	227	-29	-267	-576	-678	-604	-567	-409	-385	-259	125	567	999	1,400	1,548	1,628	1,646	1,555	0	0	0
(Gain) loss on sale of hotel properties
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment and other losses
0	0	-	-	-	-	3,849	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash ground rent
0	3,906	3,062	2,711	2,767	2,827	2,884	2,943	2,952	2,908	2,762	2,614	2,467	2,372	2,380	2,392	2,417	2,394	2,252	2,368	2,413	3,559	3,128	2,460	1,850	187	219	219	219	218	219	0	0	0
Equity in (earnings) loss from joint venture
-	-	-	-	-	-	-	-	-	-	-66,636	-61,866	1,713	3,350	3,824	4,977	5,527	6,472	7,676	7,211	6,046	4,308	5,234	5,040	5,510	6,659	5,970	1,803	1,820	-1,260	2,336	0	0	0
Deferred income tax benefit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Other
0	-4,659	-2,939	-2,324	-2,086	-2,865	-2,378	-2,716	-2,829	-1,957	-2,654	-2,386	-2,595	-2,592	-2,038	-1,547	-950	-427	-407	-756	-725	-868	-892	-469	-441	-340	-240	-301	-377	-287	-225	0	0	0
Changes in assets and liabilities:
Restricted cash, net
-	-	-	-	-	-	-	-	-	-	-	-3,277	-2,530	-1,799	-1,635	95	52	690	-71	-52	289	-451	1,266	3,434	2,476	3,276	1,547	-104	538	391	408	0	0	0
Hotel receivables
0	4,657	-3,684	357	-179	3,581	1,270	-534	973	-5,544	-1,263	-5,439	-1,511	3,158	3,107	6,524	7,002	7,041	3,544	6,117	-2,661	-529	3,343	4,372	8,823	4,191	1,321	3,346	2,210	6,190	6,426	0	0	0
Prepaid expenses and other assets
0	-12,802	-5,031	3,780	9,625	6,869	2,161	-634	4,281	-3,253	-2,286	-1,049	-6,624	-2,807	212	3,745	3,767	6,113	3,763	1,618	2,035	3,950	3,441	3,190	2,336	2,288	-2,679	-1,999	1,518	3,431	4,481	0	0	0
Distributions from joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,858	11,642	16,549	14,518	9,152	7,595	3,423	2,504	1,617	0	0	0	-	-	-	-	-	-	-	-
Accounts payable and accrued expenses
0	-31,063	-34,517	1,704	-7,791	-4,812	-9,176	-6,679	4,260	-2,406	4,492	2,524	1,821	7,904	4,161	10,421	14,106	13,146	10,598	11,860	2,954	3,136	8,051	7,144	8,172	10,560	7,740	6,502	5,006	9,061	10,715	0	0	0
Deferred revenues
0	2	4,029	1,654	1,982	1,632	2,039	-1,105	-120	2,984	2,324	3,477	4,161	4,488	4,622	2,456	1,531	889	829	1,836	1,632	1,302	3,324	2,650	2,048	1,582	216	179	1,332	1,439	215	0	0	0
Net cash provided by (used in) operating activities
0	150,744	135,697	213,372	202,626	197,778	193,639	205,446	216,355	230,667	239,972	247,996	247,459	237,153	220,720	200,678	192,540	171,960	161,284	151,326	128,981	116,118	107,453	95,093	82,702	77,261	77,173	76,797	64,762	58,488	48,076	0	0	0
Investing activities:
Improvements and additions to hotel properties
0	116,770	89,605	74,215	68,762	75,183	80,825	96,629	109,146	107,903	121,899	114,304	106,549	109,237	99,785	95,860	89,787	71,400	52,553	42,060	32,221	30,975	38,753	40,354	46,104	51,447	53,156	54,604	53,079	47,829	40,468	0	0	0
Acquisition of hotel properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	230,769	129,874	259,930	289,687	247,971	217,371	29,757	429,942	467,135	0	0	0
Distribution from (investment in) joint venture, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	79,275	79,275	101,970	105,277	0	0	0	-	-	-	-
Deposit received on hotel properties
-	-	-	-	-	-	-	-	-	-	-3,000	-3,000	-3,000	-3,000	3,000	3,000	-2,000	-3,000	0	0	0	0	-	-	3,000	1,000	4,000	3,000	-6,000	-10,500	0	0	0	0
Proceeds from sales of hotel properties
0	273,647	28,551	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of corporate office equipment, software, and furniture
0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receipt from (acquisition of) note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,020	9,060	6,040	6,040	3,020	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Investment in marketable securities
-	-	356,180	356,180	356,180	158,338	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of corporate office equipment, software, and furniture
-	-	164	35	56	39	40	67	40	73	74	58	101	102	278	1,076	1,339	1,314	1,146	337	32	42	33	54	68	53	47	28	62	135	148	0	0	0
Restricted cash, net
-	-	-	-	-	-	-	-	-	-	-	-3,593	-3,045	-1,832	-5,295	-3,555	-1,863	-1,433	-28	2,037	1,183	1,683	3,182	1,803	-608	-2,539	-2,582	-1,533	1,067	2,209	4,576	0	0	0
Property insurance proceeds
-	-	5,162	12,778	10,322	7,771	7,674	0	0	0	-	-	-	-	-	-	-	-	1,113	1,571	1,571	1,458	458	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
0	-1,401,991	-1,778,162	-522,994	-405,728	-20,310	132,288	427,003	402,527	309,264	297,947	-10,204	6,960	-409,653	-399,894	-848,724	-917,821	-643,916	-631,326	-302,909	-273,254	-203,311	-245,988	-252,360	-387,769	-441,618	-407,869	-277,177	-247,106	-639,045	-681,757	0	0	0
Financing activities:
Gross proceeds from issuance of common shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	221,579	218,054	147,631	268,401	235,980	0	0	0
Gross proceeds from issuance of preferred shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100,000	100,000	100,000	90,000	0	0	100,150	100,150	225,150	0	0	0
Payment of offering costs — common and preferred shares
0	745	470	470	0	0	62	75	196	4,226	4,189	4,176	4,111	143	195	392	1,252	1,305	1,301	1,305	397	824	3,787	3,760	4,947	9,196	6,708	6,669	8,367	13,768	17,243	0	0	0
Payment of deferred financing costs
0	29,471	29,366	20,990	5,368	5,409	5,411	566	549	511	1,414	1,717	1,795	4,093	3,311	5,843	6,152	3,819	3,696	441	333	347	650	1,371	3,074	3,474	3,765	3,336	1,320	2,196	2,324	0	0	0
(Distributions) contributions from non-controlling interest
-	-	-	-	-	-	106	106	106	107	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	95	0	0	0
Borrowings under revolving credit facilities
0	325,788	550,181	518,366	509,138	332,973	238,687	325,502	409,922	451,000	469,000	474,000	364,000	575,000	490,000	430,000	520,000	245,000	180,000	0	0	0	-	-	-	-	120,000	95,000	137,000	112,000	42,000	0	0	0
Repayments under revolving credit facilities
0	528,788	425,181	154,366	169,138	333,973	275,687	425,502	396,922	427,000	552,000	519,000	644,000	495,000	375,000	255,000	246,000	145,000	130,000	0	0	0	-	-	-	-	120,000	95,000	137,000	112,000	42,000	0	0	0
Proceeds from debt
-	-	-	-	-	-	-	-	-	-	150,000	150,000	275,000	375,000	225,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of debt
0	172,388	102,366	2,344	2,322	27,913	72,317	346,873	347,814	408,626	365,583	204,159	205,007	120,348	171,488	60,138	60,027	59,917	9,123	8,979	8,815	8,626	8,099	7,117	6,180	4,999	136,704	135,763	134,899	134,328	1,031	0	0	0
Proceeds from mortgage debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	224,000	143,000	143,000	93,000	67,000	0	0	0
Repurchases of common shares
0	4,009	2,507	2,508	2,627	36,045	95,982	95,981	95,862	62,444	2,496	2,496	2,496	2,496	4,094	4,094	4,094	4,094	632	632	632	632	523	525	525	525	321	319	319	319	140	0	0	0
Redemption of preferred shares
-	-	-	-	-	-	-	-	-	-	225,050	225,050	140,000	140,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions — common shares/units
0	114,469	105,729	105,693	105,660	106,053	107,329	108,511	109,692	110,447	105,321	100,199	95,075	89,949	84,037	77,409	69,896	62,385	55,708	49,856	44,889	39,895	36,969	34,468	31,619	28,171	27,002	25,852	25,050	23,555	22,244	0	0	0
Distributions — preferred shares
0	20,210	16,094	16,094	16,094	16,094	16,094	16,094	17,883	17,590	21,770	24,233	24,909	27,665	25,950	25,950	25,543	25,138	24,731	24,326	24,326	23,188	21,563	19,937	18,312	17,825	17,825	16,578	14,583	11,056	6,600	0	0	0
Proceeds from refundable membership deposits
-	-	29	284	422	-6	656	915	1,075	1,914	1,658	3,447	3,149	2,744	2,302	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments of refundable membership deposits
0	606	754	710	775	815	790	791	735	702	723	1,144	1,080	924	591	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
0	1,305,095	1,717,743	315,475	207,576	-193,336	-334,223	-667,870	-643,600	-538,575	-532,888	-229,727	-251,324	172,126	152,636	567,300	720,016	456,322	467,789	160,848	31,158	15,850	107,771	119,834	292,761	443,626	350,912	272,537	206,243	276,329	478,643	0	0	0
Net change in cash and cash equivalents and restricted cash
0	53,848	75,278	5,853	4,474	-15,868	-8,296	-35,421	-24,718	1,356	5,031	8,065	3,095	-374	-26,538	-80,746	-5,265	-15,634	-2,253	9,265	-113,115	-71,343	-30,764	-37,433	-12,306	79,269	20,216	72,157	23,899	-304,228	-155,038	0	0	0