XML 74 R26.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Restatement of Previously Issued Consolidated Financial Statements (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2014
Restatement of Previously Issued Consolidated Financial Statements |
Schedule of effect of adjustments to previously reported unaudited consolidated financial statements | The following tables present the effect of the adjustments to our previously reported unaudited consolidated financial statements for the three and nine months ended September 30, 2014 (in thousands, except per share amounts).
|  | Condensed Balance Sheets as of September 30, 2014 |
|  | (As Reported) |  | Adjustments |  | (As Restated) |
Land held for development |  | $ | 13,748 |  | $ | (4,573 | ) | $ | 9,175 |
Total assets |  | 1,472,626 |  | (4,573 | ) | 1,468,053 |
Accumulated deficit and distributions |  | (93,736 | ) | (4,517 | ) | (98,253 | )
Total stockholders’ equity |  | 791,768 |  | (4,517 | ) | 787,251 |
Noncontrolling interests in operating partnership |  | 7,595 |  | (56 | ) | 7,539 |
Total equity |  | 799,363 |  | (4,573 | ) | 794,790 |
Total liabilities and equity |  | 1,472,626 |  | (4,573 | ) | 1,468,053 |
|  | Condensed Consolidated Statements of Operations |
|  | Three Months Ended September 30, 2014 |  | Nine Months Ended September 30, 2014 |
|  | (As Reported) |  | Adjustments |  | (As Restated) |  | (As Reported) |  | Adjustments |  | (As Restated) |
Loss on impairment of assets |  | $ | 3,614 |  | $ | 4,573 |  | $ | 8,187 |  | $ | 4,274 |  | $ | 4,573 |  | $ | 8,847 |
Net income |  | 8,280 |  | (4,573 | ) | 3,707 |  | 20,765 |  | (4,573 | ) | 16,192 |
Income (loss) attributable to non-controlling interests: |  |  |  |  |  |  |  |  |  |  |  |  |
Operating partnership |  | 50 |  | (56 | ) | (6 | ) | 101 |  | (56 | ) | 45 |
Net income attributable to Summit Hotel Properties, Inc. |  | 8,230 |  | (4,517 | ) | 3,713 |  | 20,663 |  | (4,517 | ) | 16,146 |
Net income (loss) attributable to common stockholders |  | 4,083 |  | (4,517 | ) | (434 | ) | 8,222 |  | (4,517 | ) | 3,705 |
Basic and diluted net income (loss) per share |  | 0.05 |  | (0.06 | ) | (0.01 | ) | 0.10 |  | (0.06 | ) | 0.04 |
|  | Condensed Statements of Cash Flows for the Nine Months Ended September 30, 2014 |
|  | (As Reported) |  | Adjustments |  | (As Restated) |
Net income |  | $ | 20,765 |  | $ | (4,573 | ) | $ | 16,192 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |
Loss on impairment of assets |  | 4,674 |  | 4,573 |  | 9,247 |
Net cash provided by operating activities |  | 79,013 |  | — |  | 79,013 |

X
- Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22644-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22663-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22658-107794 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration