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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES              
Net income (loss) $ (626) $ (217) $ 16,498 $ (120)      
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:              
Depreciation and amortization 14,474 14,133 42,291 39,573      
Equity-based compensation     5,709 (1,992)      
Bad debt expense     186 172      
Amortization of loan costs     3,157 3,754      
Write-off of loan costs and exit fees 0 380 4,178 2,343      
Amortization of intangibles     143 136      
Amortization of non-refundable membership initiation fees     (18) 0      
Interest expense accretion on refundable membership club deposits     376 0      
(Gain) loss on sale of hotel property     (15,711) 0      
Impairment charges 0 1,008 71 1,008 $ 1,100    
Unrealized (gain) loss on investment in Ashford Inc. (2,158) (1,875) 3,338 (3,403)      
Realized and unrealized (gain) loss on derivatives     803 1,800      
Net settlement of trading derivatives     (688) (1,062)      
Equity in (earnings) loss of unconsolidated entity 81 0 146 0      
Deferred tax expense (benefit)     136 119      
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions and dispositions:              
Accounts receivable and inventories     (5,593) 260      
Insurance receivable     0 (276)      
Prepaid expenses and other assets     922 (758)      
Accounts payable and accrued expenses     (2,609) 5,100      
Due to/from related party, net     344 (255)      
Due to/from affiliate, net     0 (2,500)      
Due to/from third-party hotel managers     5,578 5,798      
Other liabilities     (7,851) 144      
Net cash provided by (used in) operating activities     52,885 46,624      
CASH FLOWS FROM INVESTING ACTIVITIES              
Proceeds from property insurance     24,663 0      
Acquisition of hotel properties, net of cash and restricted cash acquired     (177,874) (243,693)      
Investment in unconsolidated entity     (2,000) 0      
Proceeds from liquidation of AQUA U.S. Fund     0 2,289      
Net proceeds from sale of hotel property     65,336 0      
Improvements and additions to hotel properties     (51,610) (32,744)      
Net cash provided by (used in) investing activities     (141,485) (274,148)      
CASH FLOWS FROM FINANCING ACTIVITIES              
Borrowings on indebtedness     575,000 523,500      
Repayments of indebtedness     (399,804) (376,385)      
Payments of loan costs and exit fees     (9,407) (10,733)      
Payments for derivatives     (348) (347)      
Purchase of common stock     (204) (195)      
Payments for dividends and distributions     (22,661) (19,579)      
Issuance of preferred stock     0 40,163      
Issuance of common stock     0 66,442      
Distributions to noncontrolling interest in consolidated entities     (538) (1,628)      
Other     18 21      
Net cash provided by (used in) financing activities     142,056 221,259      
Net change in cash, cash equivalents and restricted cash     53,456 (6,265)      
Cash, cash equivalents and restricted cash at beginning of period     185,342 164,645 164,645    
Cash, cash equivalents and restricted cash at end of period 238,798 158,380 238,798 158,380 185,342    
SUPPLEMENTAL CASH FLOW INFORMATION              
Interest paid     31,641 26,385      
Income taxes paid (refund)     1,626 1,025      
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES              
Dividends and distributions declared but not paid     8,840 8,599      
Capital expenditures accrued but not paid     5,167 2,721      
Non-cash dividends paid     58 0      
Non-cash settlement of note receivable     8,098 0      
Non-cash settlement of TIF loan     8,098 0      
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH              
Cash and cash equivalents at beginning of period     137,522 126,790 126,790    
Restricted cash at beginning of period     47,820 37,855 37,855    
Cash, cash equivalents and restricted cash at beginning of period 238,798 158,380 185,342 164,645 164,645 $ 238,798 $ 158,380
Cash and cash equivalents at end of period 163,825 126,771 163,825 126,771 137,522    
Restricted cash at end of period $ 74,973 $ 31,609 74,973 31,609 $ 47,820    
Cash, cash equivalents and restricted cash at end of period           $ 238,798 $ 158,380
Ashford Trust OP              
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions and dispositions:              
Due to/from affiliate, net     0 488      
Ashford Inc.              
Changes in operating assets and liabilities, exclusive of the effect of hotel acquisitions and dispositions:              
Due to/from affiliate, net     $ 1,479 $ (3,705)