SOTHERLY HOTELS INC. SOHOO Cash Flow

Sotherly hotels inc. (SOHOO)

CashFlow / TTM

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)
1,175	57	-3,993	-2,174	-608	-893	151	-1,680	29	3,011	2,398	3,240	900	262	6,448	6,229	6,397	2,896	-2,020	-1,026	-738	2,773	935	-115	-4,473	-1,878	-1,855	-5,703	-5,327	-10,622	-10,021	-8,119	-6,475	0	0	0
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization
21,637	21,218	20,785	21,279	20,884	20,074	19,954	18,572	16,999	16,466	15,829	15,411	15,019	15,268	14,852	14,355	13,591	12,656	12,755	12,439	11,969	11,241	9,806	8,848	8,467	8,258	8,370	8,534	8,661	8,767	8,805	8,759	8,702	0	0	0
Equity income in joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	475	565	401	394	307	263	297	367	449	591	551	376	172	116	-4	-83	-60	0	0	0
Loss on disposal of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-128	0	0	0
Unrealized gain on hedging activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	72	0	0	0
Unrealized loss on warrant derivative
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-
Amortization of deferred financing costs
789	1,072	1,077	1,110	1,020	758	824	748	776	825	935	1,048	1,147	1,247	1,240	1,263	1,300	1,303	1,501	1,561	1,428	1,319	1,701	1,474	1,518	1,484	773	1,527	1,971	2,016	2,043	1,377	1,106	0	0	0
Amortization of mortgage premium
24	24	24	24	24	24	24	24	24	24	24	24	24	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of assets
293	311	180	208	917	2,099	2,099	2,071	2,242	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on hedging activities
-1,177	-2,505	-2,155	-1,312	-808	144	17	0	-28	-1	1	-2	-37	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of assets
-123	-547	-535	-504	-511	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of assets
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Paid-in-kind interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	186	257	273	330	387	0	0	0	-	-	-	-
ESOP and share / unit - based compensation
385	375	379	374	379	378	371	424	347	287	227	109	211	211	211	211	285	285	285	285	245	392	392	392	323	171	166	161	110	110	110	110	74	0	0	0
Changes in assets and liabilities:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	1,008	-1,039	-687	-584	12	-508	-9	92	675	1,065	256	173	293	192	24	-377	-529	-635	-156	-129	0	0	0
Accounts receivable
-1,954	-1,524	-686	628	885	1,981	6,748	4,120	1,492	1,027	-777	1,488	56	-196	-279	-8	2,021	1,800	219	614	-369	-8	967	-60	-58	-485	-1,216	-990	-212	-73	721	686	-165	0	0	0
Prepaid expenses, inventory and other assets
162	820	1,088	388	-1,620	35	388	638	2,780	1,415	998	1,057	334	285	869	130	623	1,720	1,080	1,721	1,677	444	304	-47	-116	-90	197	133	-122	291	-280	-325	-380	0	0	0
Deferred income taxes
280	-21	47	-344	-319	-3,028	-2,762	-1,640	-1,498	1,882	1,293	953	1,558	1,752	2,196	1,771	1,780	1,408	1,245	1,722	1,961	1,078	254	-373	-1,370	-1,629	-1,626	-1,502	-1,412	-1,188	-1,021	-872	-685	0	0	0
Accounts payable and other accrued liabilities
-1,364	2,353	1,712	2,524	1,148	288	2,717	2,250	1,244	391	-1,118	-492	-35	1,091	-323	-1,537	-1,001	-2,477	-2,272	2,344	2,338	5,318	4,887	617	-3	-1,535	-766	-1,492	-1,072	-83	1,006	-247	1,074	0	0	0
Advance deposits
-29	35	139	-440	1,020	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance deposits
-	-	-	-	-	-	-	-	-	0	0	1,084	-	216	568	549	431	703	58	198	89	90	150	93	-33	-165	-18	-164	172	329	193	246	-102	0	0	0
Accounts receivable - affiliate
-160	-316	-330	-69	-131	-90	-137	-168	389	303	353	266	-222	-96	53	-33	28	113	-108	-40	-12	91	182	203	129	2	-5	-2	-16	-27	-39	-24	-30	0	0	0
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	16,814	-	17,352	15,504	14,661	11,377	7,397	11,851	14,574	14,851	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
22,460	26,086	24,373	24,405	26,163	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,983	8,897	9,011	8,423	7,651	5,967	7,550	0	0	0
Cash flows from investing activities:
Acquisitions of hotel properties
-	-	-	-	79,732	79,732	79,732	80,479	3,986	0	0	0	-	-	-	-	-	-	-	-	61,106	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Improvements and additions to hotel properties
12,661	14,453	20,390	21,706	22,104	24,170	21,239	22,702	23,155	21,172	18,565	16,260	14,912	15,665	18,261	20,606	20,136	20,230	17,944	12,964	9,801	5,916	4,297	5,127	4,906	4,644	3,912	3,250	2,908	4,316	4,921	5,645	5,979	0	0	0
Funding of restricted cash reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	5,404	5,530	5,870	4,973	4,575	5,755	3,813	3,692	3,297	2,875	2,513	2,195	1,985	1,962	2,025	1,983	2,158	2,179	2,191	2,347	0	0	0
Proceeds of restricted cash reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	6,886	7,983	6,930	6,376	6,592	4,793	5,025	2,583	2,337	2,565	2,074	1,653	1,104	1,127	1,064	1,215	1,682	1,786	2,152	1,733	0	0	0
Proceeds from sale of hotel property
-	-	-	-	-	-	-	-	5,434	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions from joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	600	600	600	600	750	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from involuntary conversion
293	311	856	208	917	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance conversion
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the disposal of assets
4	0	0	0	-	-	-	-	105	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26	0	0	0
Net cash used in investing activities
-18,709	-20,470	-19,508	-20,726	-100,899	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,728	-3,691	-3,156	-4,292	-4,800	-5,226	-6,130	0	0	0
Cash flows from financing activities:
Net cash used in investing activities
-	-	-	-	-	-	-	-	-	-	-	-14,345	-	-13,596	-38,844	-42,545	-41,132	-40,817	-18,099	-10,982	-71,096	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of mortgage debt
-	-	-	-	175,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of unsecured debt
-	-	-	-	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Payments on line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,537	0	0	0	-	-	-	-
Proceeds from mortgage loan receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	67,780	72,741	72,741	29,367	21,487	16,525	30,525	58,300	0	0	0	-	-	-	-
Payments on mortgage loans
6,633	36,474	102,469	106,921	107,237	76,569	10,049	24,072	25,990	69,933	94,166	91,739	89,619	46,163	95,398	120,441	120,154	138,717	65,316	24,422	24,171	8,470	8,034	8,636	8,703	19,516	19,386	19,110	22,033	7,845	11,486	9,678	5,953	0	0	0
Settlement or repurchased of common stock / units
-	-	-	-	-	-	-	-	3,708	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of deferred financing costs
-	-	-	-	3,816	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Payments) refund of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Funding of ESOP stock purchase
-	-	-	-	-	-	-	-	4,874	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,209	1,885	1,542	2,637	2,761	4,194	4,315	2,684	1,677	454	639	1,102	1,431	1,371	2,017	1,823	0	0	0
Dividends and distributions paid
-	-	0	6,633	-	-	0	5,976	-	6,356	6,224	6,091	5,851	5,598	5,086	4,582	4,103	3,621	3,282	2,951	2,686	2,355	2,155	2,022	1,823	0	0	0	-	-	-	-	-	-	-	-
Preferred dividends paid
7,102	6,486	5,881	5,855	5,829	5,622	5,061	4,421	3,781	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of redeemable preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,413	0	0	0	-	-	-	-	-	-	-	-
Dividends and distributions paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Net cash provided by (used in) financing activities
-	-	-	-	-	-	-	-	-	-	-	4,337	-	7,206	32,150	26,787	24,614	31,974	5,596	-516	63,503	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash, cash equivalents and restricted cash
-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-13,635	-12,404	-1,263	-5,841	79,174	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-7,658	-3,973	-3,090	-1,054	-220	281	-2	0	0	0
Net (decrease) increase in cash, cash equivalents and restricted cash
-9,884	-6,788	3,601	-2,163	4,439	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	10,962	8,810	-1,097	-5,140	-1,446	-651	3,075	7,257	-6,868	11,363	5,773	2,200	15,309	-403	1,233	2,765	3,075	2,630	1,021	1,417	0	0	0
Supplemental disclosures:
Cash paid during the period for interest
19,262	19,461	18,926	18,746	18,325	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for interest
-	-	-	-	-	-	-	-	-	-	-	16,787	-	17,662	17,466	15,799	15,415	15,492	14,271	14,514	13,766	11,638	11,410	10,490	10,423	9,880	8,878	10,248	10,412	10,720	10,684	9,249	8,705	0	0	0
Cash paid during the period for income taxes
-	-	0	221	-	-	0	94	-	318	214	265	192	29	533	579	570	595	139	240	263	239	256	132	143	145	120	121	117	116	110	42	48	0	0	0
Non-cash investing and financing activities:
Proceeds of mortgage debt contributed to restricted cash reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in amount of deferred financing and deferred offering costs in accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Change in amount of improvements to hotel property in accounts payable and accrued liabilities
347	307	413	307	222	324	-898	-895	151	202	1,321	1,580	431	251	220	1,258	601	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Sotherly Hotels LP [Member]
Net income (loss)
1,175	57	-3,993	-2,174	-608	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
21,637	21,218	20,785	21,279	20,884	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred financing costs
789	1,072	1,077	1,110	1,020	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of mortgage premium
24	24	24	24	24	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on involuntary conversion of assets
293	311	180	208	917	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized loss on hedging activities
-1,177	-2,505	-2,155	-1,312	-808	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of assets
-123	-547	-535	-504	-511	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
ESOP and share / unit - based compensation
451	594	534	454	462	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable
-1,954	-1,524	-686	628	885	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses, inventory and other assets
162	820	1,088	388	-1,620	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
280	-21	47	-344	-319	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and other accrued liabilities
-1,364	2,353	1,712	2,524	1,148	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Advance deposits
-29	35	139	-440	1,020	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts receivable - affiliate
-160	-316	-330	-69	-131	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
22,526	26,305	24,528	24,486	26,246	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisitions of hotel properties
-	-	-	-	79,732	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Improvements and additions to hotel properties
12,661	14,453	20,390	21,706	22,104	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
ESOP loan payments received
236	232	224	216	204	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from involuntary conversion
293	311	856	208	917	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from the disposal of assets
4	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-18,472	-20,238	-19,284	-20,510	-100,694	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of mortgage debt
-	-	-	-	175,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds of unsecured debt
-	-	-	-	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on mortgage loans
6,633	36,474	102,469	106,921	107,237	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of deferred financing costs
-	-	-	-	3,816	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends and distributions paid
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred dividends paid
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by financing activities
-13,938	-12,855	-1,642	-6,139	78,887	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (decrease) increase in cash, cash equivalents and restricted cash
-9,884	-6,788	3,601	-2,163	4,439	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for interest
19,259	19,452	18,917	18,738	18,318	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the period for income taxes
-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in amount of improvements to hotel property in accounts payable and accrued liabilities
347	307	413	307	222	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-