PEBBLEBROOK HOTEL TRUST PEB Income Statement

Pebblebrook hotel trust (PEB)

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	Sep'10	Jun'10
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax
269,107	379,409	423,552	442,083	367,169	235,642	205,480	206,501	181,055	179,629	201,793	205,717	182,178	198,941	208,963	212,272	196,245	193,425	216,321	197,683	163,435	155,934	169,676	147,454	125,712	126,768	131,234	126,301	104,914	104,742	104,305	94,167	77,474	84,409	87,803	73,110	42,665	21,637	2,216
Expenses:
Hotel operating expenses:
Total hotel operating expenses
201,454	238,863	247,490	251,008	236,807	158,020	119,663	120,008	114,143	115,541	116,870	121,123	114,439	122,783	116,926	122,305	121,910	121,580	123,290	115,993	107,212	100,101	99,282	90,012	84,592	85,013	83,016	81,125	75,044	73,293	68,051	62,147	58,093	59,530	59,611	49,475	32,738	15,842	1,389
Depreciation and amortization
55,828	57,504	69,775	53,299	54,302	34,246	24,765	24,562	24,902	24,834	25,210	25,950	26,296	26,112	25,407	25,859	25,061	25,017	24,645	24,885	21,325	18,810	17,396	16,230	15,888	14,823	13,971	13,565	13,211	12,052	11,055	9,998	9,689	9,519	9,037	7,592	4,797	2,032	223
Other indirect
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	32,629	31,412	28,852	27,767	26,061	23,792	22,146	23,061	23,651	19,860	13,076	6,006	645
Real estate taxes, personal property taxes, property insurance, and ground rent
29,766	31,004	31,588	30,984	31,437	18,382	11,206	12,488	12,115	11,405	11,345	12,038	13,712	13,235	12,360	12,428	12,465	12,082	12,700	10,885	11,280	10,031	9,539	9,000	8,308	9,074	7,991	8,396	5,591	7,577	4,571	4,032	4,007	3,954	3,860	3,158	1,923	836	73
Ground rent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	922	-	651	537	420	464	589	515	246	11	-
General and administrative
22,613	5,797	8,315	8,809	11,126	6,151	6,663	5,794	2,337	3,017	4,467	6,427	6,151	7,976	6,779	6,355	6,802	10,671	7,923	6,169	7,572	9,376	7,208	5,591	6,147	4,328	4,253	4,246	4,339	4,481	3,886	4,810	3,600	3,207	3,527	2,440	2,286	1,729	2,156
Gain (Loss) on Sale of Properties
117,400	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hotel acquisition and disposition costs
-	-	4,035	1,044	-	69,504	3,188	1,979	378	-	-	-	-	-	-	-	-	-	-	4,334	131	-	475	236	285	1,947	268	241	920	894	514	588	238	-3,952	3,903	1,715	1,726	1,665	3,061
Impairment and other losses
20,600	-	-	-	0	-	-	-	-	-	3,191	0	1,049	0	12,148	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating
-	-	-	-	-	-	-	-	-	-	290	14,587	-	-	0	40,326	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) loss and other operating expenses
-1,433	-2,684	-1,529	-1,130	-3,560	-441	357	6,811	4,208	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insured Event, Gain (Loss)
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
214,216	336,633	362,732	346,274	337,232	288,891	165,128	158,020	149,667	145,669	161,083	165,538	161,647	129,609	173,620	166,947	166,238	164,885	168,558	162,266	147,520	137,322	133,900	121,069	115,220	114,263	109,499	107,573	100,027	96,689	88,728	82,112	76,047	72,722	80,527	64,895	43,716	22,115	6,902
Operating income (loss)
54,891	42,776	60,820	95,809	29,937	-53,249	40,352	48,481	31,388	33,960	40,710	40,179	20,531	69,332	35,343	45,325	30,007	28,540	47,763	35,417	15,915	18,612	35,776	26,385	10,492	12,505	21,735	18,728	4,887	8,053	15,577	12,055	1,427	11,687	7,276	8,215	-1,051	-478	-4,686
Interest income
-	-	-	-	-	-	-	-	-	-	1	96	0	123	627	620	625	625	630	621	635	649	645	621	614	656	670	660	634	113	82	23	6	53	49	293	473	638	898
Interest Expense
23,591	23,962	26,465	28,719	29,328	20,649	12,647	10,816	9,811	9,284	8,969	9,705	9,341	11,125	10,257	11,432	10,801	10,090	11,107	9,256	8,321	7,456	7,278	6,256	6,075	6,223	6,074	5,925	5,458	4,261	3,949	3,465	3,257	3,576	3,775	3,446	2,856	471	-
Other
24	6	7	7	9	-27,331	3,931	22,968	2,510	2,230	132	-64	64	607	1,548	-101	-1,771	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	0	-	38	47	-	-	-
Equity in earnings (loss) of joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-341	-61,268	1,682	-4,915	4,442	2,899	3,320	-4,448	5,595	3,450	4,264	-3,244	5,131	2,284	3,115	-2,907	4,334	2,152	3,080	-3,596	167	2,169	0	0	-	-
Income (loss) before income taxes
31,324	18,820	34,362	67,097	618	-101,229	31,636	60,633	24,087	11,932	32,164	45,093	11,254	18,270	-34,007	76,420	13,145	23,517	40,185	30,102	3,781	17,400	32,593	25,014	1,787	12,069	18,615	16,578	-2,844	8,239	13,862	11,693	-5,420	8,331	5,757	5,109	-3,434	-311	-3,788
Income tax (expense) benefit
-10,744	-752	4,382	6,579	-5,037	-1,886	1,719	2,338	-429	0	1,593	1,423	-2,835	-152	1,528	1,982	-3,492	523	1,937	3,519	-3,389	1,310	2,154	2,121	-2,334	1,089	1,088	1,647	-2,598	1,026	1,757	1,666	-2,583	225	-81	810	-390	-3	26
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
42,068	19,572	29,980	60,518	5,655	-99,343	29,917	58,295	24,516	11,932	30,571	43,670	14,089	18,422	-35,535	74,438	16,637	22,994	38,248	26,583	7,170	16,090	30,439	22,893	4,121	10,980	17,527	14,931	-246	7,213	12,105	10,027	-2,837	8,106	5,838	4,299	-3,044	-308	-3,814
Net income (loss) attributable to non-controlling interests
119	29	89	145	20	-432	125	192	107	33	128	158	55	64	-112	248	58	79	129	92	27	140	274	220	43	63	112	97	2	125	187	163	-46	144	114	85	0	-	-
Net income (loss) attributable to the Company
41,949	19,543	29,891	60,373	5,635	-98,911	29,792	58,103	24,409	11,899	30,443	43,512	14,034	18,358	-35,423	74,190	16,579	22,915	38,119	26,491	7,143	15,950	30,165	22,673	4,078	10,917	17,415	14,834	-248	7,088	11,918	9,864	-2,791	7,962	5,724	4,214	-3,044	-308	-3,814
Distributions to preferred shareholders
8,139	8,139	8,139	8,139	8,139	5,396	4,023	4,024	4,023	4,024	4,023	4,024	4,023	4,024	5,553	4,241	5,844	6,487	6,488	6,487	6,488	6,488	6,428	6,082	6,081	6,081	6,100	6,104	4,668	4,456	4,456	4,457	4,456	4,506	2,899	2,461	547	-	-
Transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	0	2,921	0	4,169	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Available to Common Stockholders, Basic
33,810	11,404	21,752	52,234	-2,504	-104,307	25,769	54,079	20,386	7,875	26,420	39,488	10,011	14,334	-43,897	69,949	6,566	16,428	31,631	20,004	655	9,462	23,737	16,591	-2,003	4,836	11,315	8,730	-4,916	2,632	7,462	5,407	-7,247	3,456	2,825	1,753	-3,591	-308	-3,814
Earnings Per Share, Basic
0.26	0.08	0.17	0.40	-0.02	-1.50	0.37	0.78	0.29	0.11	0.38	0.57	0.14	0.20	-0.61	0.97	0.09	-	0.44	0.28	-	-	0.36	0.26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings Per Share, Diluted
0.26	0.08	0.17	0.40	-0.02	-1.50	0.37	0.78	0.29	0.10	0.38	0.57	0.14	0.20	-0.61	0.96	0.09	-	0.43	0.27	-	-	0.36	0.26	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) per share available to common shareholders, basic and diluted (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	-	-	-	-0.03	-	0.18	0.14	-0.08	-	0.13	0.10	-0.14	0.09	0.05	0.03	-0.09	-0.01	-0.19
Weighted Average Number of Shares Outstanding, Basic
130,555	130,485	130,484	130,484	130,431	90,444	68,912	68,912	68,876	68,773	68,814	69,168	71,610	71,923	71,922	71,922	71,836	71,719	71,735	71,735	71,673	70,199	64,859	63,764	63,762	62,735	61,179	61,082	60,996	60,594	58,714	52,908	51,009	50,892	50,771	50,193	39,827	-	-
Weighted Average Number of Shares Outstanding, Diluted
130,678	131,224	130,622	130,595	130,431	89,476	69,255	69,204	69,208	69,375	69,202	69,468	71,892	72,939	71,922	72,319	72,311	72,213	72,451	72,425	72,446	71,822	65,346	64,125	63,762	63,806	61,347	61,196	60,996	61,123	58,760	52,927	51,009	51,072	50,771	50,193	39,827	-	-
Comprehensive Income:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
42,068	19,572	29,980	60,518	5,655	-99,343	29,917	58,295	24,516	11,932	30,571	43,670	14,089	18,422	-35,535	74,438	16,637	22,994	38,248	26,583	7,170	16,090	30,439	22,893	4,121	10,980	17,527	14,931	-246	7,213	12,105	10,027	-2,837	8,106	5,838	4,299	-3,044	-308	-3,814
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax
-54,265	11,957	-7,874	-21,089	-9,039	-11,026	829	2,012	5,278	4,457	733	-1,293	2,104	15,550	3,007	-4,635	-11,484	6,314	-10,631	4,077	-4,169	-1,295	446	-462	-116	175	-589	1,695	105	89	-389	0	0	-	0	-	-	-	-
Other
-	-	-	0	-	-	-	579	-579	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain (loss) on marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income (loss)
-12,197	31,529	22,106	39,429	-3,384	-110,369	30,746	60,886	29,215	16,389	31,304	42,377	16,193	33,972	-32,528	69,803	5,153	29,308	27,617	30,660	3,001	14,795	30,885	22,431	4,005	11,177	16,938	16,626	-141	7,302	11,716	10,027	-2,837	-	5,838	-	-	-	-
Comprehensive income (loss) attributable to non-controlling interests
-35	63	66	86	-6	-468	128	201	123	48	131	154	62	114	-102	234	20	100	94	105	14	129	278	216	42	69	108	107	3	129	181	163	-46	-	114	-	-	-	-
Comprehensive income (loss) attributable to the Company
-12,162	31,466	22,040	39,343	-3,378	-109,901	30,618	60,685	29,092	16,341	31,173	42,223	16,131	33,858	-32,426	69,569	5,133	29,208	27,523	30,555	2,987	14,666	30,607	22,215	3,963	11,086	16,830	16,519	-144	7,173	11,535	9,864	-2,791	-	5,724	-	-	-	-
Weighted-average number of common shares, basic and diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34,073	20,260
Room
Revenue from Contract with Customer, Excluding Assessed Tax
177,141	252,048	296,622	306,291	248,986	153,711	146,907	142,018	122,471	119,426	144,770	142,522	125,570	136,320	152,693	148,450	131,404	126,176	154,120	137,443	108,834	103,713	120,934	102,384	83,569	80,998	90,093	83,400	67,139	64,135	68,596	59,632	46,855	49,882	56,437	45,601	25,559	12,805	1,360
Total hotel operating expenses
54,125	66,148	71,878	70,454	67,375	43,631	34,675	33,157	31,708	31,992	34,453	34,640	32,983	36,452	34,541	34,094	32,225	31,419	33,706	30,982	27,983	27,148	27,807	24,859	22,895	21,622	22,063	20,847	18,858	17,692	17,045	14,983	13,493	13,586	14,477	11,866	7,641	3,769	298
Food and beverage
Revenue from Contract with Customer, Excluding Assessed Tax
67,092	95,781	90,088	97,965	86,750	62,170	43,141	49,210	44,568	47,879	42,839	48,387	43,632	48,924	42,564	49,673	50,696	53,370	47,421	46,823	43,238	41,672	38,577	35,417	32,448	37,240	32,900	35,228	31,163	34,122	29,236	28,870	25,524	29,318	25,627	23,166	14,787	7,816	770
Total hotel operating expenses
51,859	65,297	64,690	66,934	63,357	43,234	30,687	32,328	30,596	31,810	29,913	32,202	29,288	31,471	28,917	32,532	34,037	35,205	32,834	31,384	29,393	28,281	27,596	25,156	23,810	26,064	24,705	25,417	24,058	24,533	21,716	20,417	19,703	20,360	18,736	15,827	10,860	5,615	405
Other
Revenue from Contract with Customer, Excluding Assessed Tax
24,874	31,580	36,842	37,827	31,433	19,761	15,432	15,273	14,016	12,324	14,184	14,808	12,976	13,697	13,706	14,149	14,145	13,879	14,780	13,417	11,363	10,549	10,165	9,653	9,695	8,530	8,241	7,673	6,612	6,485	6,473	5,665	5,095	5,209	5,739	4,343	2,319	1,016	-86
Total hotel operating expenses
95,470	107,418	110,922	113,620	106,075	71,155	54,301	54,523	51,839	51,739	52,504	54,281	52,168	54,860	53,468	55,679	55,648	54,956	56,750	53,627	49,836	44,672	43,879	39,997	37,887	130,220	3,619	3,449	3,276	3,301	3,229	2,955	2,751	2,523	2,747	1,922	1,161	452	41