Extended Stay America, Inc. STAY Cash Flow

Extended stay america, inc. (STAY)

CashFlow / 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
OPERATING ACTIVITIES:
Net income
7,845	23,846	53,230	59,658	28,404	39,399	75,692	65,570	31,095	40,150	66,250	49,725	16,063	30,148	57,065	61,386	14,753	132,132	58,225	64,805	27,860	28,004	60,185	46,284	16,081	-15,378	46,578	37,539	13,917
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
50,520	49,857	49,748	49,017	48,778	49,677	52,138	53,499	54,015	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
-	-	-	-	-	-	-	-	-	-	56,979	57,469	57,336	-	55,620	54,676	52,973	51,581	51,925	50,185	48,840	47,462	46,781	46,606	44,984	43,186	42,326	40,265	40,902
Amortization of deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,125
Amortization of intangible assets
-	-	-	-	-	-	-	-	-	-	335	335	335	-	335	335	335	336	343	344	343	344	343	344	343	344	343	344	343
Foreign currency transaction loss (gain)
-703	152	-101	171	178	-352	251	-102	-197	-82	381	422	-21	507	305	-114	878	-	-	-	-	-	-	-	-	-	-	-	-
Loss on interest rate swap
-	-	-	-	-	-	-	-	-	-	-103	-1,495	889	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency transaction (gain) loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,765	-	1,058	-736	2,515	-	-	-	-
Amortization of deferred financing costs and debt discount
2,052	2,052	7,642	1,997	1,996	1,996	1,997	1,996	2,625	2,025	2,022	2,025	2,025	2,104	15,196	2,695	11,121	3,073	2,671	4,313	2,551	3,306	3,784	9,129	3,378	-	-	-	-
Amortization and write-off of above-market ground leases
-	-	-	-	-	-1,187	-172	-34	-34	-34	-34	-34	-34	-34	-34	-34	-34	-34	-34	-34	-34	-35	-33	-34	-34	-34	-34	-34	-34
Debt modification and extinguishment costs
-	-	-	-	-	-	-	-	-	3,519	0	0	-1,168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of property and equipment
-3,343	-1,035	-1,660	-2,001	-1,376	-796	-1,949	824	-1,492	-541	-2,048	-2,547	-3,470	-3,485	-2,254	-2,105	-2,896	-5,973	-1,287	-465	-1,574	-433	-149	-507	-2,055	-1,190	-1,593	-701	-9
Gain on sale of hotel properties, net
-	-	-	-	-	878	3,500	0	38,100	11,870	0	-1,897	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of long-lived assets
-	-	-	-	-	0	0	0	43,600	4,843	0	7,934	12,423	7,072	2,756	0	0	-	-	-	-	-	-	-	-	0	1,942	0	1,388
Equity-based compensation
1,126	782	1,876	2,146	2,109	2,319	1,811	1,785	2,403	-1,497	2,720	3,646	2,683	3,365	3,016	2,939	2,680	2,560	3,021	2,803	2,116	1,630	2,283	2,429	2,461	16,780	640	1,337	1,411
Deferred income tax benefit
-3,122	-3,789	-1,942	-2,335	-50	6,743	1,192	-1,431	-5,485	3,565	-1,181	-5,993	4,572	2,807	-3,025	-7,358	-18,399	16,882	-2,747	-3,000	-2,426	-11,233	9,649	1,376	-312	-11,477	-964	780	107
Changes in assets and liabilities:
Accounts receivable, net
1,407	-7,909	-1,304	1,878	1,586	-4,517	185	2,151	-63	-5,859	2,708	4,374	-328	-6,482	1,904	5,893	1,340	-8,125	-10,242	7,803	2,258	-7,702	1,806	6,620	4,316	-8,010	348	5,358	5,213
Other assets
-1,760	-6,049	1,979	6,539	-3,208	9,377	1,758	4,017	-4,938	-606	-4,697	7,077	1,832	-387	-1,173	-3,238	2,969	-2,353	208	5,950	-1,050	-1,216	-3,603	-10,634	16,274	3,739	2,384	3,485	-7,144
Accounts payable and accrued liabilities
29,465	-27,436	20,288	-1,838	17,982	-27,599	25,506	-5,765	21,908	-25,861	17,765	2,667	12,463	-29,929	13,623	-6,757	21,636	-28,886	7,010	15,157	21,309	-14,897	-8,878	4,636	21,637	-18,584	16,214	8,935	19,920
Net cash provided by operating activities
92,285	61,164	134,689	102,058	102,039	66,800	154,402	109,913	118,735	75,933	148,615	111,840	110,132	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83,019
Net cash provided by operating activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	145,770	107,446	82,774	63,658	141,955	120,586	102,690	67,158	116,254	114,555	72,518	-	-	-	-
INVESTING ACTIVITIES:
Purchases of property and equipment
34,452	-	-	-	45,197	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
-	-	-	-	-	-	35,391	41,606	29,397	-	39,795	44,633	48,447	58,869	56,505	53,042	56,907	63,559	67,075	39,878	34,205	47,347	40,155	36,315	49,422	54,698	39,240	42,446	36,156
Development in process payments
19,769	17,554	20,275	13,859	7,982	6,376	22,405	1,834	4,175	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for intangible assets
358	3,043	-215	4,187	2,109	3,046	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of hotel properties
-	-	-	-	-	-	-	-	-	-	0	47,952	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of hotel properties
-	-	-	-	-	34,962	118,856	0	155,244	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Increase) decrease in restricted cash and insurance collateral
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-168,435	3,739	101,751	-108,695	1,593	15,694	102,771	-105,087	20,687	17,589	92,962	-108,263	-7,145	11,221	82,014
Proceeds from insurance and related recoveries
956	571	301	457	156	1,955	171	3,458	904	2,831	302	29	140	341	0	340	2,376	1,550	1,717	1,761	233	-	-	-	-	-	-	-	-
Net cash used in investing activities
-53,623	-82,710	-64,790	-57,177	-55,132	-24,820	61,231	-52,711	122,576	-14,688	-39,493	3,348	-48,307	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-109,693
Proceeds from insurance recoveries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,395	1,276	-	275	41	628
(Increase) decrease in cash collateral related to insurance reserves
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	7,849
Net cash (used in) provided by investing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	111,930	-56,441	-156,282	322,942	-66,951	-52,959	-136,743	64,392	-54,018	-51,509	-141,108	-	-	-	-
Principal payments on mortgage loan
-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,497,620	0	433,537	86,115	0	500,777	0	-	-	-	-	5,678	62	63	62
Principal payments on term loan facility
1,577	1,578	500,000	2,841	2,842	78,052	3,051	3,052	63,060	3,217	3,242	3,242	6,492	0	0	0	366,463	0	0	0	8,537	-	-	-	0	-	-	-	-
Proceeds from revolving credit facility
399,765	-	-	-	0	-	-	-	-	-	-	-	-	0	0	0	788,000	0	0	500,000	0	-	-	-	-	-	-	-	-
Interest proceeds from senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,983	-	-	-	0	-	-	-	-	-	-	-	-
Proceeds from revolving credit facility
-	-	-	-	-	-	-	-	-	0	0	40,000	65,000	20,000	50,000	0	0	25,000	0	40,000	25,000	0	30,000	83,000	97,000	-	-	-	-
Payments on revolving credit facilities
-	-	-	-	-	-	-	-	-	0	0	75,000	75,000	0	25,000	0	0	-	-	-	-	0	58,000	115,000	57,000	-	-	-	-
Payments of deferred financing costs
17	-	-	-	0	-	-	-	-	-	-	-	-	1,415	18,343	474	14,243	0	799	10,677	0	-	-	-	-	9,743	-191	0	298
Principal payments on finance leases
37	31	28	29	29	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt modification and extinguishment costs
-	-	-	-	-	-	-	-	-	1,183	0	0	1,168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax withholdings related to restricted stock unit settlements
815	0	27	0	1,571	0	95	0	3,894	0	303	0	3,245	0	158	0	2,071	0	0	0	1,105	-	-	-	0	-	-	-	-
Repurchase of Corporation common stock and ESH REIT Class B common stock (Paired Shares)
31,093	73,250	57,471	0	0	5,729	11,674	32,823	35,179	3,542	4,801	30,856	23,124	70,295	9,244	31,583	28,773	0	0	0	0	-	-	-	-	-	-	-	-
Issuance of Class B common stock related to issuance of Paired Shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	6	-	0	0	0	-	-	-	-	-	-	-	-
Corporation common distributions
16,177	21,820	15,075	16,953	13,334	15,054	7,581	11,368	11,788	21,148	13,487	13,534	7,957	31,645	18,049	8,061	16,398	4,093	4,094	4,091	0	-	-	-	-	-	-	-	-
ESH REIT common distributions
25,222	20,011	28,262	26,376	28,562	26,353	34,046	30,309	29,297	19,229	26,974	27,063	29,579	5,942	20,066	30,240	69,810	30,632	30,785	30,683	30,776	30,499	30,566	30,772	16,416	76,377	318	1,031	674
ESH REIT preferred distributions
-	-	-	-	-	-	-	-	-	-	-	-	-	8	0	0	8	0	8	0	8	8	0	8	0	-	-	-	-
Net cash used in financing activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-244,980	-86,341	-127,314	-120,840	-35,686	-71,228	-15,426	-30,507	-60,375	-59,862	23,584	-	-	-	-
Net cash provided by (used in) financing activities
324,827	-120,152	130,818	-46,207	-46,338	-125,195	-56,451	-78,743	-143,218	-48,319	-48,815	-123,772	-81,565	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,034
CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH DUE TO CHANGES IN FOREIGN CURRENCY EXCHANGE RATES
-150	-	-	-	31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH DUE TO CHANGES IN FOREIGN CURRENCY EXCHANGE RATES
-	-	-	-	-	-	21	-42	-46	-	166	40	69	-110	11	10	13	-27	-17	-82	43	-150	-169	78	26	-11	120	-215	-96
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
363,339	-141,669	200,699	-1,296	600	-83,305	159,203	-21,583	98,047	12,944	60,473	-8,544	-19,671	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	12,731	-35,326	-200,809	265,733	39,301	-3,683	-49,436	100,893	1,692	3,262	-44,980	-103,055	58,539	29,195	-27,804
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash payments for interest, excluding modification, prepayment and other penalties, net of capitalized interest of $859 and $313
5,455	39,562	11,051	45,874	12,028	47,379	12,261	46,639	12,230	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash payments for interest, excluding prepayment and other penalties
-	-	-	-	-	-	-	-	-	-	-	46,804	18,073	-	20,470	35,491	18,173	44,676	30,633	24,100	20,811	37,213	30,434	35,227	22,384	63,596	50,158	50,214	37,259
Cash (refunds) payments for income taxes, net of refunds of $18 and $0
-18	8,769	14,270	16,242	341	10,274	10,173	17,648	482	18,502	14,626	21,635	931	17,322	19,196	28,125	14,260	13,074	22,045	20,359	14,347	7,901	24,607	934	2,937	-918	419	587	145
Operating cash payments for finance leases
59	59	61	61	61	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating cash payments for operating leases
714	705	694	690	690	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NONCASH INVESTING AND FINANCING ACTIVITIES:
Capital expenditures included in accounts payable and accrued liabilities
22,400	-4,678	506	3,063	24,555	7,021	806	7,368	12,655	-4,536	-584	1,997	15,719	1,312	4,458	1,391	14,751	7,858	-2,530	7,046	11,577	1,848	2,443	-13,617	25,238	12,747	1,693	1,126	5,675
Additions to finance lease right-of-use assets and liabilities
364	0	0	0	109	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs included in accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-1,067	622	-496	1,020	0	-799	799	0	-	-	-	-	-	-	-	-
Net payable related to unsettled RSUs not yet settled or issued included in due to/from Extended Stay America, Inc.
-	-	-	-	-	-	-	-	-	-	-	-	69	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
ESH REIT
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	37,581	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	53,280	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency transaction (gain) loss
-	-	-	-	-	-	-	-	-202	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization and write-off of deferred financing costs and debt discount
-	-	-	-	-	-	-	-	2,598	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization and write-off of above-market ground leases
-	-	-	-	-	-	-	-	-34	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on disposal of property and equipment
-	-	-	-	-	-	-	-	-1,492	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Properties, before Applicable Income Taxes
-	-	-	-	-	-	-	-	35,410	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of Long-Lived Assets Held-for-use
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity-based compensation
-	-	-	-	-	-	-	-	145	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income tax benefit
-	-	-	-	-	-	-	-	5	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-	-	-	-	-	-	-	-	1,165	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	16,874	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
-	-	-	-	-	-	-	-	101,514	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of property and equipment
-	-	-	-	-	-	-	-	26,430	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Development in process payments
-	-	-	-	-	-	-	-	4,175	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for intangible assets
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Sale of Productive Assets
-	-	-	-	-	-	-	-	155,244	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance and related recoveries
-	-	-	-	-	-	-	-	904	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-	-	-	-	-	-	-	-	125,543	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on term loan facilities
-	-	-	-	-	-	-	-	63,060	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Principal payments on finance leases
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of Corporation common stock and ESH REIT Class B common stock (Paired Shares)
-	-	-	-	-	-	-	-	12,801	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of Ordinary Dividends, Common Stock
-	-	-	-	-	-	-	-	66,871	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-	-	-	-	-	-	-	-	-140,416	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
-	-	-	-	-	-	-	-	86,641	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash payments for interest, excluding prepayment and other penalties
-	-	-	-	-	-	-	-	12,044	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash payments for income taxes, net of refunds of $0 and $6
-	-	-	-	-	-	-	-	155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating cash payments for finance leases
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating cash payments for operating leases
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures included in accounts payable and accrued liabilities
-	-	-	-	-	-	-	-	12,096	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-