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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (124,677,000) $ 1,196,000 $ 2,585,000
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:      
Depreciation and amortization 73,371,000 70,112,000 57,383,000
Equity-based compensation 7,892,000 7,943,000 7,004,000
Bad debt expense 727,000 444,000 501,000
Amortization of loan costs and capitalized default interest 854,000 4,343,000 4,260,000
Write-off of loan costs and exit fees 3,920,000 647,000 4,178,000
Amortization of intangibles 834,000 651,000 194,000
Amortization of non-refundable membership initiation fees (440,000) (181,000) (36,000)
Interest expense accretion on refundable membership club deposits 818,000 864,000 676,000
Write-off of income guarantee 0 0 2,000,000
(Gain) loss on insurance settlement, disposition of assets and sale of hotel property (10,149,000) (25,165,000) (15,738,000)
Impairment charges 0 0 71,000
Realized and unrealized (gain) loss on investment in Ashford Inc. 0 5,552,000 8,010,000
Realized and unrealized (gain) loss on derivatives (24,000) 1,381,000 82,000
Net settlement of trading derivatives 698,000 (1,076,000) 102,000
Equity in (earnings) loss of unconsolidated entity 217,000 199,000 234,000
Deferred income tax expense (benefit) (956,000) 764,000 (807,000)
Changes in operating assets and liabilities, exclusive of the effects of hotel acquisition:      
Accounts receivable and inventories 4,057,000 (5,788,000) 5,249,000
Insurance receivable 0 0 8,825,000
Prepaid expenses and other assets (1,460,000) (2,228,000) 2,447,000
Accounts payable and accrued expenses (10,499,000) 13,394,000 (8,172,000)
Operating lease right-of-use assets 541,000 518,000  
Due to/from related parties, net (440,000) (775,000) 560,000
Due to/from third-party hotel managers 4,075,000 (5,484,000) 1,634,000
Due to/from Ashford Inc. (1,674,000) (555,000) 1,833,000
Operating lease liabilities (223,000) (194,000)  
Other liabilities 2,251,000 (300,000) (12,342,000)
Net cash provided by (used in) operating activities (50,287,000) 66,262,000 70,733,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Proceeds from property insurance 9,037,000 11,020,000 32,364,000
Net proceeds from disposition of assets and sale of hotel property 0 10,300,000 65,336,000
Proceeds from sale of investment in Ashford Inc. 0 597,000 0
Acquisition of hotel properties, net of cash and restricted cash acquired 0 (111,751,000) (184,960,000)
Investment in unconsolidated entity (26,000) (332,000) (2,000,000)
Improvements and additions to hotel properties (25,552,000) (136,259,000) (77,564,000)
Net cash provided by (used in) investing activities (16,541,000) (226,425,000) (166,824,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings on indebtedness 109,317,000 329,500,000 575,000,000
Repayments of indebtedness (47,822,000) (257,086,000) (400,551,000)
Payments of loan costs and exit fees (6,485,000) (4,447,000) (9,517,000)
Payments for derivatives (92,000) (115,000) (362,000)
Purchase of common stock (263,000) (384,000) (323,000)
Payments for dividends and distributions (16,154,000) (33,409,000) (30,328,000)
Proceeds from issuance of preferred stock 474,000 645,000 37,954,000
Proceeds from issuance of common stock 13,259,000 0 0
Distributions to noncontrolling interest in consolidated entities (2,639,000) (2,654,000) (2,654,000)
Other 0 8,000 18,000
Net cash provided by (used in) financing activities 49,595,000 32,058,000 169,237,000
Net change in cash, cash equivalents and restricted cash (17,233,000) (128,105,000) 73,146,000
Cash, cash equivalents and restricted cash at beginning of period 130,383,000 258,488,000 185,342,000
Cash, cash equivalents and restricted cash at end of period 113,150,000 130,383,000 258,488,000
SUPPLEMENTAL CASH FLOW INFORMATION      
Interest paid 27,900,000 49,645,000 43,886,000
Income taxes paid (refunded) 140,000 (11,000) 2,299,000
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Dividends and distributions declared but not paid 2,736,000 9,143,000 8,514,000
Common stock purchases accrued but not paid 28,000 136,000 0
Capital expenditures accrued but not paid 8,993,000 18,572,000 10,637,000
Non-cash dividends paid 0 0 58,000
Non-cash loan proceeds associated with accrued interest 2,229,000 0 0
Non-cash loan principal associated with default interest and late charges 9,859,000 0 0
Unsettled common stock offering proceeds 68,000 0 0
Unsettled preferred stock offering proceeds 0 75,000 0
Accrued preferred stock offering expenses 0 33,000 97,000
Non-cash settlement of note receivable 0 0 8,098,000
Non-cash settlement of TIF loan 0 0 8,098,000
SUPPLEMENTAL DISCLOSURE OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH      
Cash, cash equivalents and restricted cash 130,383,000 258,488,000 258,488,000
Ashford Inc.      
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES      
Distribution of Ashford Inc. common stock $ 0 $ 3,965,000 $ 0