SOTHERLY HOTELS INC. SOHOB Cash Flow

Sotherly hotels inc. (SOHOB)

CashFlow / Quarterly

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
Cash flows from operating activities:
Net income (loss)
-1,652	2,068	1,149	-390	-2,770	-1,981	2,967	1,176	-3,056	-936	1,135	2,886	-74	-1,549	1,977	545	-711	4,636	1,759	713	-4,213	-280	2,752	1,002	-701	-2,117	1,701	-3,355	1,894	-2,095	-2,146	-2,980	-3,400	-1,494	-243	-1,336
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
5,520	4,980	5,108	6,028	5,101	4,547	5,601	5,634	4,291	4,427	4,219	4,061	3,758	3,790	3,801	3,668	4,007	3,374	3,304	2,904	3,073	3,472	2,988	2,434	2,345	2,038	2,031	2,052	2,136	2,150	2,195	2,179	2,241	2,187	2,149	2,123
Equity income in joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-31	8	24	474	58	-156	17	387	15	-122	87	469	156	-162	-88	265	100	-283	-166	289
Loss on disposal of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-130	-9	6	6
Unrealized gain on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	22	50
Unrealized loss on warrant derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,769	-	1,659	1,521	1,163	-	-	-	-
Amortization of deferred financing costs
138	131	242	276	422	135	275	186	160	202	200	214	208	312	313	313	308	305	335	350	311	504	395	217	201	886	168	262	167	175	922	706	212	202	256	434
Amortization of mortgage premium
6	6	6	6	6	6	6	6	6	6	6	6	6	5	6	6	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of assets
1	130	0	161	19	0	27	870	1,201	0	0	1,041	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on hedging activities
377	-226	-837	-490	-950	123	5	12	2	-3	-11	-15	29	-0	-15	-50	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of assets
-91	-4	-31	4	-515	7	0	-3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
-	-	-	-	-	-	-	-	-	-	-	100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Paid-in-kind interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	54	61	69	71	70	119	126	-	-	-	-
ESOP and share / unit - based compensation
75	68	75	166	65	72	69	171	65	65	122	94	4	4	4	196	4	4	4	271	4	4	4	230	152	4	4	161	0	0	0	110	0	0	0	74
Changes in assets and liabilities:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	2,446	-157	120	-1,401	398	194	223	-803	-121	692	325	-221	268	-115	242	-101	168	-284	-160	-253	62	194	-134
Accounts receivable
-1,485	-3,312	-736	3,580	-1,056	-2,473	578	3,837	38	2,293	-2,049	1,209	-425	488	215	-222	-678	405	486	1,808	-899	-1,175	881	823	-537	-199	-146	825	-965	-930	79	1,603	-826	-134	44	751
Prepaid expenses, inventory and other assets
-1,232	-299	761	933	-575	-31	61	-1,075	1,080	322	310	1,066	-283	-95	370	342	-331	488	-368	835	764	-151	272	791	-467	-292	-78	721	-440	-4	-142	465	-26	-577	-186	410
Deferred income taxes
733	702	-870	-284	430	771	-1,261	-260	-2,277	1,037	-139	-118	1,102	448	-479	487	1,296	892	-905	496	924	729	-428	735	41	-93	-1,056	-261	-217	-91	-931	-172	6	75	-782	14
Accounts payable and other accrued liabilities
-5,575	736	-342	3,817	-1,857	95	469	2,441	-2,717	2,523	3	1,435	-3,571	1,013	629	1,892	-2,444	-400	-584	2,428	-3,921	-195	4,032	2,422	-941	-625	-237	1,801	-2,473	142	-963	2,222	-1,485	1,233	-2,217	3,544
Advance deposits
388	396	-351	-463	454	499	-931	998	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance deposits
-	-	-	-	-	-	-	-	-	557	-1,645	1,089	-	241	-123	669	-570	593	-143	551	-298	-51	-2	441	-296	8	-59	314	-429	155	-205	652	-272	20	-152	302
Accounts receivable - affiliate
15	-8	-142	-24	-140	-23	118	-86	-99	-70	88	471	-186	-19	1	-17	-60	130	-85	44	23	-91	-17	72	127	-0	3	-1	1	-9	6	-14	-9	-21	22	-20
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	6,019	-	1,817	6,872	6,621	2,042	-31	6,028	3,337	-1,937	4,422	8,751	3,613	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
571	7,453	8,885	5,550	4,197	5,740	8,916	7,308	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,888	2,079	725	3,289	2,802	2,193	137	2,518	1,118	3,776
Cash flows from investing activities:
Acquisitions of hotel properties
-	-	-	-	0	0	-746	80,479	0	0	0	3,986	-	-	-	-	-	-	-	-	0	0	0	61,106	-	-	-	-	-	-	-	-	-	-	-	-
Improvements and additions to hotel properties
1,814	1,996	3,396	5,453	3,606	7,933	4,712	5,851	5,672	5,003	6,175	6,304	3,689	2,395	3,870	4,956	4,442	4,991	6,216	4,485	4,536	2,705	1,236	1,322	651	1,086	2,066	1,101	390	354	1,404	759	1,798	959	2,127	1,093
Funding of restricted cash reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-301	2,597	1,674	1,433	-175	2,937	777	1,035	1,004	995	656	641	581	634	338	430	559	696	296	605	580	708	452
Proceeds of restricted cash reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	762	1,586	3,958	579	1,859	532	3,404	794	61	764	962	548	289	273	541	0	312	210	693	466	417	575	274
Proceeds from sale of hotel property
-	-	-	-	-	-	-	-	0	0	0	5,434	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	600	0	0	0	750	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from involuntary conversion
1	130	0	161	19	676	-648	870	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance conversion
-	-	-	-	-	-	-	-	-	-	-	776	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the disposal of assets
0	0	0	4	-	-	-	-	102	0	0	2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	14	6	6
Net cash used in investing activities
-1,813	-8,212	-3,396	-5,287	-3,574	-7,250	-4,614	-85,459	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,677	-897	-551	-601	-1,640	-362	-1,688	-1,109	-2,067	-1,266
Cash flows from financing activities:
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-4,076	-	-1,120	-4,882	-2,672	-4,921	-26,368	-8,583	-1,258	-4,607	-3,649	-1,467	-61,372	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of mortgage debt
-	-	-	-	30,004	80,495	3,300	62,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of unsecured debt
-	-	-	-	0	0	0	25,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	19,000	-	-	-	-	-	-	-	-	-	-	-	-
Payments on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	25,537	-	-	-	-
Proceeds from mortgage loan receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,600	-	-	-	-	-	0	0	45,600	22,180	4,961	0	2,225	14,300	0	14,000	30,000	-	-	-	-
Payments on mortgage loans
2,050	1,644	1,606	1,332	31,891	67,639	6,058	1,649	1,222	1,119	20,080	3,566	45,166	25,353	17,653	1,446	1,710	74,587	42,697	1,159	20,273	1,186	1,802	909	4,571	750	2,404	976	15,384	620	2,129	3,899	1,197	4,260	321	174
Settlement or repurchased of common stock / units
-	-	-	-	-	-	-	-	2,605	0	0	1,103	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of deferred financing costs
-	-	-	-	147	1,471	191	2,006	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Payments) refund of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	3	-	-	-	-278	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Funding of ESOP stock purchase
-	-	-	-	-	-	-	-	0	0	0	4,874	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	391	317	617	882	68	-25	1,712	1,006	1,501	95	81	0	278	279	544	329	217	926	349
Dividends and distributions paid
-	-	1,505	1,916	-	-	1,746	1,602	-	1,637	1,558	1,571	1,589	1,505	1,425	1,332	1,335	994	921	852	853	655	589	588	521	456	456	389	-	-	-	-	-	-	-	-
Preferred dividends paid
2,188	1,972	1,470	1,470	1,573	1,366	1,444	1,444	1,366	805	805	805	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of redeemable preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	12,512	0	1,901	-	-	-	-	-	-	-	-
Dividends and distributions paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	259	258	-	-	-	-
Net cash provided by (used in) financing activities
-	-	-	-	-	-	-	-	-	-	-	-11,917	-	-349	9,109	-456	-1,097	24,595	3,746	-2,630	6,262	-1,782	-2,366	61,390	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash, cash equivalents and restricted cash
-	-	-	-	-	-	-	-	-	-	-	-9,974	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-6,026	-1,327	-1,561	-4,719	-4,795	9,813	-6,140	80,297	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,882	-1,123	-1,473	-1,179	-196	-240	561	-344	304	-524
Net (decrease) increase in cash, cash equivalents and restricted cash
-7,268	-2,086	3,927	-4,456	-4,172	8,303	-1,838	2,145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	347	11,099	3,492	-3,976	-1,804	1,191	-551	-281	-1,009	4,917	3,631	-14,408	17,223	-672	58	-1,299	1,509	964	1,590	-989	1,064	-643	1,986
Supplemental disclosures:
Cash paid during the period for interest
5,267	4,624	5,117	4,252	5,466	4,089	4,938	3,831	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for interest
-	-	-	-	-	-	-	-	-	-	-	3,513	-	4,877	4,464	3,606	4,713	4,682	2,796	3,223	4,790	3,461	3,039	2,476	2,662	3,232	2,119	2,408	2,119	2,230	3,489	2,572	2,427	2,193	2,054	2,028
Cash paid during the period for income taxes
-	-	50	61	-	-	267	13	-	73	0	81	163	-29	50	9	0	473	97	0	24	17	198	23	0	34	74	33	2	10	74	30	1	4	6	36
Non-cash investing and financing activities:
Proceeds of mortgage debt contributed to restricted cash reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,500	-	-	-	-	-	-	-	-	-	-	-	-
Change in amount of deferred financing and deferred offering costs in accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-624	-	-	-	-248	-	-	-	-	-	-	-	-	-	-	-	-
Change in amount of improvements to hotel property in accounts payable and accrued liabilities
11	53	102	179	-28	159	-2	94	73	-1,063	0	1,141	124	55	258	-7	-56	24	1,297	-664	-	-	-	-350	-	-	-	-	-	-	-	-	-	-	-	-
Sotherly Hotels LP [Member]
Net income (loss)
-1,652	2,068	1,149	-390	-2,770	-1,981	2,967	1,176	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
5,520	4,980	5,108	6,028	5,101	4,547	5,601	5,634	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
138	131	242	276	422	135	275	186	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of mortgage premium
6	6	6	6	6	6	6	6	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of assets
1	130	0	161	19	0	27	870	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on hedging activities
377	-226	-837	-490	-950	123	5	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of assets
-91	-4	-31	4	-515	7	0	-3	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
ESOP and share / unit - based compensation
-16	95	181	191	126	35	101	198	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
-1,485	-3,312	-736	3,580	-1,056	-2,473	578	3,837	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses, inventory and other assets
-1,232	-299	761	933	-575	-31	61	-1,075	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
733	702	-870	-284	430	771	-1,261	-260	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and other accrued liabilities
-5,575	736	-342	3,817	-1,857	95	469	2,441	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance deposits
388	396	-351	-463	454	499	-931	998	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable - affiliate
15	-8	-142	-24	-140	-23	118	-86	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
479	7,481	8,991	5,574	4,258	5,704	8,948	7,335	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of hotel properties
-	-	-	-	0	0	-746	80,479	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Improvements and additions to hotel properties
1,814	1,996	3,396	5,453	3,606	7,933	4,712	5,851	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
ESOP loan payments received
61	60	58	56	56	53	50	44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from involuntary conversion
1	130	0	161	19	676	-648	870	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the disposal of assets
0	0	0	4	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-1,752	-8,151	-3,337	-5,231	-3,518	-7,197	-4,563	-85,415	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of mortgage debt
-	-	-	-	30,004	80,495	3,300	62,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of unsecured debt
-	-	-	-	0	0	0	25,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on mortgage loans
2,050	1,644	1,606	1,332	31,891	67,639	6,058	1,649	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of deferred financing costs
-	-	-	-	147	1,471	191	2,006	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends and distributions paid
-	-	1,669	1,997	-	-	1,828	1,674	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred dividends paid
-	-	1,470	1,470	-	-	1,444	1,444	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-5,995	-1,416	-1,726	-4,800	-4,912	9,796	-6,222	80,225	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash, cash equivalents and restricted cash
-7,268	-2,086	3,927	-4,456	-4,172	8,303	-1,838	2,145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for interest
5,266	4,624	5,117	4,251	5,458	4,089	4,938	3,831	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for income taxes
-	-	50	61	-	-	267	13	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in amount of improvements to hotel property in accounts payable and accrued liabilities
11	53	102	179	-28	159	-2	94	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-