Cash Flows from Operating Activities | |
Net income | -2.14M |
Adjustments to reconcile net income to net cash flow provided by operating activities: | |
Depreciation and amortization | 182.41M |
Impairment charges | 4.7M |
Equity in earnings of unconsolidated joint venture | 4.43M |
Gain on insurance settlements | |
Distributions of earnings from unconsolidated joint venture | 0 |
Income from derivatives | |
Amortization of loan costs, write-off of loan costs and exit fees | 21.34M |
Gain on disposition of hotel properties | |
Unrealized (gain) loss on derivatives | |
Equity-based compensation expense | 5.51M |
Changes in operating assets and liabilities | |
Restricted cash | -13.07M |
Accounts receivable and inventories | |
Prepaid expenses and other assets | -13.85M |
Accounts payable and accrued expenses | 26.75M |
Due to/from related parties | |
Due to/from third-party hotel managers | -940K |
Other liabilities | 1.15M |
Net cash provided by operating activities | 177.96M |
Cash Flows from Investing Activities | |
Repayments of notes receivable | 184K |
Proceeds from sale/disposition of properties | |
Investment in unconsolidated joint venture | -2M |
Acquisition of condominium properties | -2.11M |
Improvements and additions to hotel properties | -137.9M |
Insurance proceeds | 268K |
Net cash used in investing activities | 42.96M |
Cash Flows from Financing Activities | |
Borrowings on senior credit facility | |
Repayments of indebtedness and capital leases | |
Payments of deferred loan costs | |
Issuance of preferred stock | 115.77M |
Issuance of common stock | 0 |
Contributions from noncontrolling interests in unconsolidated joint ventures | |
Distributions to noncontrolling interests in consolidated joint ventures | |
Payments of dividends | |
Payments for derivatives | -104K |
Cash income from derivatives | |
Repurchase of Series B-1 convertible preferred stock | |
Repurchases of treasury stock | -732K |
Redemption of operating partnership units | |
Issuance of operating partnership units and other | 66K |
Net cash used in financing activities | -179.23M |
Net increase (decrease) in cash and cash equivalents | 41.69M |
Cash and cash equivalents at beginning of period | 215.08M |
Cash and cash equivalents at end of period | |
Supplemental Cash Flow Information | |
Interest paid | 152.38M |
Income taxes paid | 1.61M |
Supplemental Disclosure of Non-Cash Investing and Financing Activity | |
Accrued interest added to principal of indebtedness | |
Asset contributed to unconsolidated joint venture |