$DRH
DiamondRock Hospitality Co

2012 Q4 Form 10-Q Financial Statement

#000144530512003129 Filed on October 15, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $243.6M $178.6M $218.1M
YoY Change 11.69% 13.89% 20.56%
Cost Of Revenue $174.3M $135.3M $162.3M
YoY Change 7.39% 16.04% 19.08%
Gross Profit $69.30M $48.60M $55.80M
YoY Change 24.19% 20.9% 25.11%
Gross Profit Margin 28.45% 27.21% 25.58%
Selling, General & Admin $5.400M $6.200M $6.300M
YoY Change -14.29% -4.62% 14.55%
% of Gross Profit 7.79% 12.76% 11.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $37.40M $23.00M $32.40M
YoY Change 15.43% -3.36% 10.96%
% of Gross Profit 53.97% 47.33% 58.06%
Operating Expenses $39.70M $28.80M $34.60M
YoY Change 14.74% 6.27% 11.61%
Operating Profit $29.60M -$19.56M $21.20M
YoY Change 39.62% -253.65% 55.88%
Interest Expense -$17.00M $12.73M -$15.30M
YoY Change 11.11% 12.86% 29.66%
% of Operating Profit -57.43% -72.17%
Other Income/Expense, Net -$12.67M
YoY Change 12.57%
Pretax Income $12.40M -$31.61M $6.100M
YoY Change 103.28% -2248.61% 306.67%
Income Tax -$1.800M -$916.0K $1.700M
% Of Pretax Income -14.52% 27.87%
Net Earnings $16.60M -$44.78M $4.900M
YoY Change 238.78% 4311.72% 157.89%
Net Earnings / Revenue 6.81% -25.07% 2.25%
Basic Earnings Per Share -$0.24
Diluted Earnings Per Share $77.57K -$0.24 $29.13K
COMMON SHARES
Basic Shares Outstanding 195.1M shares 187.0M shares 167.5M shares
Diluted Shares Outstanding 187.0M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.600M $21.60M $26.30M
YoY Change -63.5% -25.0% -68.76%
Cash & Equivalents $9.623M $21.60M $26.29M
Short-Term Investments
Other Short-Term Assets $73.80M $68.90M $65.90M
YoY Change 11.99% -3.5% 31.54%
Inventory
Prepaid Expenses
Receivables $68.50M $70.60M $50.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $151.9M $161.1M $142.9M
YoY Change 6.3% -2.78% -22.76%
LONG-TERM ASSETS
Property, Plant & Equipment $2.611B $2.607B $2.235B
YoY Change 16.87% 4.29% 7.86%
Goodwill
YoY Change
Intangibles $40.97M $40.75M $43.29M
YoY Change -5.34% -6.53% 1.56%
Long-Term Investments
YoY Change
Other Assets $85.90M $110.3M $323.1M
YoY Change -73.41% 52.35% 462.89%
Total Long-Term Assets $2.792B $2.812B $2.656B
YoY Change 5.14% 5.25% 19.11%
TOTAL ASSETS
Total Short-Term Assets $151.9M $161.1M $142.9M
Total Long-Term Assets $2.792B $2.812B $2.656B
Total Assets $2.944B $2.973B $2.799B
YoY Change 5.2% 4.78% 15.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $51.00M $49.10M $41.70M
YoY Change 22.3% 15.53% 15.19%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $66.90M $97.50M $101.6M
YoY Change -34.15% 73.8% 180.66%
LONG-TERM LIABILITIES
Long-Term Debt $988.7M $1.019B $1.043B
YoY Change -5.2% -5.34% 33.55%
Other Long-Term Liabilities $104.4M $106.8M $110.3M
YoY Change -5.35% 2.01% 7.3%
Total Long-Term Liabilities $1.093B $1.125B $1.153B
YoY Change -5.21% -4.68% 30.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $66.90M $97.50M $101.6M
Total Long-Term Liabilities $1.093B $1.125B $1.153B
Total Liabilities $1.249B $1.272B $1.297B
YoY Change -3.67% -4.23% 29.51%
SHAREHOLDERS EQUITY
Retained Earnings -$283.0M -$284.0M -$207.9M
YoY Change 36.11% 42.43% 42.35%
Common Stock $1.978B $1.985B $1.710B
YoY Change 15.67% 16.18% 9.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.695B $1.701B $1.502B
YoY Change
Total Liabilities & Shareholders Equity $2.944B $2.973B $2.799B
YoY Change 5.2% 4.78% 15.9%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income $16.60M -$44.78M $4.900M
YoY Change 238.78% 4311.72% 157.89%
Depreciation, Depletion And Amortization $37.40M $23.00M $32.40M
YoY Change 15.43% -3.36% 10.96%
Cash From Operating Activities $48.40M $25.90M $60.90M
YoY Change -20.53% 3.6% 42.96%
INVESTING ACTIVITIES
Capital Expenditures -$22.90M -$11.20M -$19.40M
YoY Change 18.04% -20.57% 26.8%
Acquisitions
YoY Change
Other Investing Activities $10.30M -$415.6M $2.100M
YoY Change 390.48% 41460.0% -191.3%
Cash From Investing Activities -$12.60M -$426.8M -$17.20M
YoY Change -26.74% 2726.49% -2.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $199.8M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -47.80M 317.7M -46.20M
YoY Change 3.46% -15985.0% 2331.58%
NET CHANGE
Cash From Operating Activities 48.40M 25.90M 60.90M
Cash From Investing Activities -12.60M -426.8M -17.20M
Cash From Financing Activities -47.80M 317.7M -46.20M
Net Change In Cash -12.00M -83.20M -2.500M
YoY Change 380.0% -1153.16% -110.87%
FREE CASH FLOW
Cash From Operating Activities $48.40M $25.90M $60.90M
Capital Expenditures -$22.90M -$11.20M -$19.40M
Free Cash Flow $71.30M $37.10M $80.30M
YoY Change -11.21% -5.12% 38.69%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reporting Periods</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The results we report in our condensed consolidated statements of operations are based on results of our hotels reported to us by our hotel managers. Our hotel managers use different reporting periods. Marriott, the manager of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">14</font><font style="font-family:inherit;font-size:10pt;"> of our hotels, uses a fiscal year ending on the Friday closest to December&#160;31 and reports </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">12</font><font style="font-family:inherit;font-size:10pt;">&#160;weeks of operations for each of the first three quarters and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">16</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">17</font><font style="font-family:inherit;font-size:10pt;">&#160;weeks for the fourth quarter of the year for its domestic managed hotels. In contrast, Marriott, for its non-domestic hotels (including Frenchman&#8217;s Reef), Vail Resorts, manager of the Vail Marriott, Davidson Hotels &amp; Resorts, manager of the Atlanta Westin North at Perimeter, Hilton Hotels Corporation, manager of the Conrad Chicago and Hilton Minneapolis, Westin Hotel Management, L.P., manager of the Westin Boston Waterfront Hotel, Alliance Hospitality Management, manager of the Hilton Garden Inn Chelsea/New York City, Sage Hospitality, manager of the JW Marriott Denver at Cherry Creek and the Courtyard Denver Downtown, Highgate Hotels, manager of the Lexington Hotel New York, WHM LLC, manager of the Hilton Boston Downtown, and Interstate Hotels &amp; Resorts, manager of the Westin Washington, D.C. City Center, Westin San Diego, and Hilton Burlington report results on a monthly basis. Additionally, as a REIT, we are required by U.S. federal tax laws to report results on a calendar year basis. As a result, we have adopted the reporting periods used by Marriott for its domestic hotels, except that our fiscal year always ends on December&#160;31 to comply with REIT rules. Our first three fiscal quarters end on the same day as Marriott&#8217;s fiscal quarters but our fourth quarter ends on December&#160;31 and the full year results, as reported in the statement of operations, always include the same number of days as the calendar year.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Two consequences of the reporting cycle we have adopted are: (1)&#160;quarterly start dates will usually differ between years, except for the first quarter which always commences on January&#160;1, and (2)&#160;the first and fourth quarters of operations and year-to-date operations may not include the same number of days as reflected in prior years.</font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">While the reporting calendar we adopted is more closely aligned with the reporting calendar used by the manager of 14 of our hotels, one final consequence of the calendar is that we are unable to report any results for Frenchman&#8217;s Reef, Vail Marriott, Atlanta Westin North at Perimeter, Conrad Chicago, Westin Boston Waterfront Hotel, Hilton Minneapolis, Hilton Garden Inn Chelsea/New York City, JW Marriott Denver at Cherry Creek, Courtyard Denver Downtown, Lexington Hotel New York, Hilton Boston Downtown, Westin Washington, D.C. City Center, Westin San Diego, or Hilton Burlington for the month of operations that ends after our fiscal quarter-end because none of Westin Hotel Management, L.P., Hilton Hotels Corporation, Davidson Hotels &amp; Resorts, Alliance Hospitality Management, Vail Resorts, Sage Hospitality, Highgate Hotels, WHM LLC, Interstate Hotels &amp; Resorts, nor Marriott (with respect to Frenchman&#8217;s Reef) make mid-month results available to us. As a result, our quarterly results of operations include results from these hotels as follows: first quarter (January and February), second quarter (March to May), third quarter (June to August) and fourth quarter (September to December). While this does not affect full-year results, it does affect the reporting of quarterly results.</font></div></div>
CY2011Q3 us-gaap Food And Beverage Cost Of Sales
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CY2012Q3 us-gaap Food And Beverage Cost Of Sales
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us-gaap Food And Beverage Cost Of Sales
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us-gaap Food And Beverage Cost Of Sales
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us-gaap Food And Beverage Revenue
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us-gaap Food And Beverage Revenue
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CY2012Q3 us-gaap Food And Beverage Revenue
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us-gaap Gain Loss On Sale Of Properties
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us-gaap Gain Loss On Sale Of Properties
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us-gaap Gains Losses On Extinguishment Of Debt
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CY2012Q3 us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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CY2012Q3 us-gaap General And Administrative Expense
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CY2011Q3 us-gaap General And Administrative Expense
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CY2011 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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1471000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0.00
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2011Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2011Q3 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
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1646000 USD
us-gaap Income Taxes Paid
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1192000 USD
us-gaap Income Taxes Paid
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Earnest Money Deposits Outstanding
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1898000 USD
us-gaap Increase Decrease In Earnest Money Deposits Outstanding
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20000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1261000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1371000 USD
us-gaap Increase Decrease In Restricted Cash
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us-gaap Increase Decrease In Restricted Cash
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us-gaap Increase Decrease In Restricted Cash For Operating Activities
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us-gaap Increase Decrease In Restricted Cash For Operating Activities
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us-gaap Interest Expense
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us-gaap Interest Expense
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us-gaap Interest Paid
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us-gaap Interest Paid
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us-gaap Interest Paid Capitalized
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us-gaap Investment Income Interest
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us-gaap Investment Income Interest
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CY2011Q3 us-gaap Investment Income Interest
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24000 USD
CY2012Q3 us-gaap Liabilities And Stockholders Equity
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CY2011Q4 us-gaap Liabilities And Stockholders Equity
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CY2011Q4 us-gaap Liabilities Of Assets Held For Sale
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3805000 USD
CY2012Q3 us-gaap Liabilities Of Assets Held For Sale
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CY2011Q4 us-gaap Line Of Credit
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100000000 USD
CY2012Q3 us-gaap Line Of Credit
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120000000 USD
CY2012Q3 us-gaap Line Of Credit Facility Amount Outstanding
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120000000 USD
us-gaap Line Of Credit Facility Commitment Fee Description
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In addition to the interest payable on amounts outstanding under the facility, we are required to pay an amount equal to 0.40% of the unused portion of the facility if the unused portion of the facility is greater than 50% or 0.30% if the unused portion of the facility is less than or equal to 50%.
CY2012Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
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200000000 USD
us-gaap Line Of Credit Facility Expiration Date
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August 2014
CY2012Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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400000000 USD
us-gaap Loans Assumed1
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us-gaap Loans Assumed1
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CY2012Q3 us-gaap Long Term Debt
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CY2011Q4 us-gaap Long Term Debt
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1042933000 USD
CY2012Q3 us-gaap Longterm Debt Weighted Average Interest Rate
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0.0517
us-gaap Net Cash Provided By Used In Financing Activities
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340211000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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CY2011Q3 us-gaap Net Income Loss
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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43270000 USD
us-gaap Net Income Loss
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us-gaap Repayments Of Other Debt
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0 USD
CY2012Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Nonoperating Income Expense
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us-gaap Nonoperating Income Expense
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CY2011Q3 us-gaap Nonoperating Income Expense
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CY2012Q3 us-gaap Nonoperating Income Expense
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CY2012Q3 us-gaap Notes Receivable Net
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54237000 USD
CY2011Q4 us-gaap Notes Receivable Net
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54788000 USD
CY2012Q3 us-gaap Number Of Businesses Acquired
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4 hotels
CY2012Q3 us-gaap Occupancy Costs
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35428000 USD
CY2011Q3 us-gaap Occupancy Costs
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30141000 USD
us-gaap Occupancy Costs
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us-gaap Occupancy Costs
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us-gaap Occupancy Revenue
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CY2011Q3 us-gaap Occupancy Revenue
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111984000 USD
CY2012Q3 us-gaap Occupancy Revenue
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us-gaap Occupancy Revenue
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CY2012Q3 us-gaap Off Market Lease Unfavorable
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80619000 USD
CY2011Q4 us-gaap Off Market Lease Unfavorable
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81914000 USD
us-gaap Operating Income Loss
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CY2012Q3 us-gaap Operating Income Loss
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CY2011Q3 us-gaap Operating Income Loss
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12728000 USD
us-gaap Operating Income Loss
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CY2012Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
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2700000 USD
CY2011Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
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1900000 USD
us-gaap Other Amortization Of Deferred Charges
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us-gaap Other Amortization Of Deferred Charges
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us-gaap Other Direct Costs Of Hotels
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145887000 USD
CY2011Q3 us-gaap Other Direct Costs Of Hotels
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55772000 USD
us-gaap Other Direct Costs Of Hotels
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171131000 USD
CY2012Q3 us-gaap Other Direct Costs Of Hotels
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64098000 USD
us-gaap Other Hotel Operating Revenue
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20442000 USD
us-gaap Other Hotel Operating Revenue
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27787000 USD
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10504000 USD
CY2011Q3 us-gaap Other Hotel Operating Revenue
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8177000 USD
CY2012Q3 us-gaap Owned Property Management Costs
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5744000 USD
us-gaap Owned Property Management Costs
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15313000 USD
CY2011Q3 us-gaap Owned Property Management Costs
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4551000 USD
us-gaap Owned Property Management Costs
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us-gaap Payments For Derivative Instrument Financing Activities
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us-gaap Payments For Derivative Instrument Financing Activities
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us-gaap Payments For Legal Settlements
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us-gaap Payments For Legal Settlements
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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2946000 USD
us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Financing Costs
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Productive Assets
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us-gaap Payments To Acquire Real Estate
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us-gaap Payments To Acquire Real Estate
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0.01
CY2012Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
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10000000 shares
CY2011Q4 us-gaap Preferred Stock Shares Authorized
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10000000 shares
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CY2012Q3 us-gaap Preferred Stock Shares Issued
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CY2012Q3 us-gaap Preferred Stock Value
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CY2011Q4 us-gaap Preferred Stock Value
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CY2012Q3 us-gaap Prepaid Expense And Other Assets
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CY2011Q4 us-gaap Prepaid Expense And Other Assets
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65900000 USD
us-gaap Proceeds From Collection Of Notes Receivable
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551000 USD
us-gaap Proceeds From Collection Of Notes Receivable
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1704000 USD
us-gaap Proceeds From Issuance Of Common Stock
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199831000 USD
us-gaap Proceeds From Issuance Of Common Stock
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CY2012Q3 us-gaap Proceeds From Issuance Of Common Stock
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199800000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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175000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
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130000000 USD
us-gaap Proceeds From Other Debt
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100000000 USD
us-gaap Proceeds From Other Debt
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170368000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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92120000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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0 USD
CY2012Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
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92000000 USD
CY2012Q3 us-gaap Property Plant And Equipment Gross
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3089494000 USD
CY2011Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2667682000 USD
CY2011Q4 us-gaap Property Plant And Equipment Net
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2234504000 USD
CY2012Q3 us-gaap Property Plant And Equipment Net
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2606853000 USD
us-gaap Recognition Of Deferred Revenue
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414000 USD
us-gaap Recognition Of Deferred Revenue
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658000 USD
us-gaap Repayments Of Lines Of Credit
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0 USD
us-gaap Repayments Of Lines Of Credit
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155000000 USD
us-gaap Repayments Of Other Debt
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26963000 USD
CY2012Q3 us-gaap Restricted Cash And Cash Equivalents
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60263000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents
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53871000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
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-207945000 USD
CY2012Q3 us-gaap Retained Earnings Accumulated Deficit
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-283953000 USD
us-gaap Revenue From Leased And Owned Hotels
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404036000 USD
CY2011Q3 us-gaap Revenue From Leased And Owned Hotels
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156837000 USD
CY2012Q3 us-gaap Revenue From Leased And Owned Hotels
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183873000 USD
us-gaap Revenue From Leased And Owned Hotels
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483245000 USD
CY2011Q4 us-gaap Secured Debt
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762933000 USD
CY2012Q3 us-gaap Secured Debt
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898471000 USD
CY2011Q4 us-gaap Settlement Liabilities Current
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1700000 USD
us-gaap Share Based Compensation
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3339000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3230000 USD
CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
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12104 shares
us-gaap Stock Issued1
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75000000 USD
us-gaap Stock Issued1
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CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7211538 shares
CY2012Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
20000000 shares
CY2012Q3 us-gaap Stock Issued During Period Value New Issues
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75000000 USD
CY2012Q3 us-gaap Stockholders Equity
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1701402000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
1502157000 USD
CY2012Q3 us-gaap Units Of Partnership Interest Amount
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0 shares
CY2011Q4 us-gaap Units Of Partnership Interest Amount
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0 shares
CY2012Q3 us-gaap Unrecognized Tax Benefits
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0 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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187010360 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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166277915 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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174241316 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
167431622 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
187010360 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
166277915 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
174241316 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167431622 shares
CY2012Q1 drh Assets Held For Sale Contractual Purchase Price
AssetsHeldForSaleContractualPurchasePrice
262500000 USD
CY2012Q3 drh Business Acquisition Available Corporate Cash Used In Purchase
BusinessAcquisitionAvailableCorporateCashUsedInPurchase
100000000 USD
CY2012Q3 drh Business Acquisition Funding Draw On Line Of Credit
BusinessAcquisitionFundingDrawOnLineOfCredit
120000000 USD
drh Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasicAndDiluted
-0.02
CY2012Q3 drh Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasicAndDiluted
-0.14
drh Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasicAndDiluted
-0.13
CY2011Q3 drh Business Acquisition Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTaxPerShareBasicAndDiluted
0.02
CY2011Q3 drh Business Acquisition Pro Forma Net Income Loss Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaNetIncomeLossNetOfTaxPerShareBasicAndDiluted
0.02
CY2012Q3 drh Business Acquisition Pro Forma Net Income Loss Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaNetIncomeLossNetOfTaxPerShareBasicAndDiluted
-0.22
drh Business Acquisition Pro Forma Net Income Loss Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaNetIncomeLossNetOfTaxPerShareBasicAndDiluted
-0.02
drh Business Acquisition Pro Forma Net Income Loss Net Of Tax Per Share Basic And Diluted
BusinessAcquisitionProFormaNetIncomeLossNetOfTaxPerShareBasicAndDiluted
-0.13
drh Buyer Assumption Of Mortgage Debt On Sale Of Hotels
BuyerAssumptionOfMortgageDebtOnSaleOfHotels
0 USD
drh Buyer Assumption Of Mortgage Debt On Sale Of Hotels
BuyerAssumptionOfMortgageDebtOnSaleOfHotels
180000000 USD
CY2011Q3 drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
20577000 USD
drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
57170000 USD
drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
62802000 USD
CY2012Q3 drh Depreciation And Amortization From Continuing Operations
DepreciationAndAmortizationFromContinuingOperations
22612000 USD
drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
9665000 USD
drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
1346000 USD
CY2012Q3 drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
449000 USD
CY2011Q3 drh Disposal Group Including Discontinued Operation Depreciation And Amortization
DisposalGroupIncludingDiscontinuedOperationDepreciationAndAmortization
3224000 USD
drh Disposal Group Including Discontinued Operation Impairment Charge
DisposalGroupIncludingDiscontinuedOperationImpairmentCharge
14690000 USD
CY2011Q3 drh Disposal Group Including Discontinued Operation Impairment Charge
DisposalGroupIncludingDiscontinuedOperationImpairmentCharge
0 USD
CY2012Q3 drh Disposal Group Including Discontinued Operation Impairment Charge
DisposalGroupIncludingDiscontinuedOperationImpairmentCharge
14690000 USD
drh Disposal Group Including Discontinued Operation Impairment Charge
DisposalGroupIncludingDiscontinuedOperationImpairmentCharge
0 USD
CY2012Q3 drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
0 USD
drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
11000 USD
CY2011Q3 drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
0 USD
drh Disposal Group Including Discontinued Operation Interest Income
DisposalGroupIncludingDiscontinuedOperationInterestIncome
1000 USD
CY2012Q3 drh Due From Managers
DueFromManagers
70569000 USD
CY2011Q4 drh Due From Managers
DueFromManagers
50728000 USD
drh Due To From Hotel Managers
DueToFromHotelManagers
15281000 USD
drh Due To From Hotel Managers
DueToFromHotelManagers
7438000 USD
CY2012Q3 drh Due To Managers
DueToManagers
49115000 USD
CY2011Q4 drh Due To Managers
DueToManagers
41676000 USD
drh Impairment Charges Included In Continuing And Discontinued Operations
ImpairmentChargesIncludedInContinuingAndDiscontinuedOperations
45534000 USD
drh Impairment Charges Included In Continuing And Discontinued Operations
ImpairmentChargesIncludedInContinuingAndDiscontinuedOperations
0 USD
drh Line Of Credit Facility Covenant Capitalization Rate
LineOfCreditFacilityCovenantCapitalizationRate
0.085
drh Line Of Credit Facility Covenant Minimum Number Of Unencumbered Borrowing Base Properties
LineOfCreditFacilityCovenantMinimumNumberOfUnencumberedBorrowingBaseProperties
5 hotels
drh Line Of Credit Facility Covenant Minimum Unencumbered Borrowing Base Value
LineOfCreditFacilityCovenantMinimumUnencumberedBorrowingBaseValue
250000000 USD
drh Line Of Credit Facility Covnenant Percent Of Net Proceeds From Future Equity Issuances
LineOfCreditFacilityCovnenantPercentOfNetProceedsFromFutureEquityIssuances
0.85
CY2012Q3 drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
700000 USD
CY2011Q3 drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
800000 USD
drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
1700000 USD
drh Line Of Credit Facility Interest And Commitment Fee Amount
LineOfCreditFacilityInterestAndCommitmentFeeAmount
1500000 USD
drh Non Cash Ground Rent
NonCashGroundRent
4621000 USD
CY2012Q3 drh Number Of Hotel Properties
NumberOfHotelProperties
27 hotels
CY2011Q4 drh Mortgage Debt Of Assets Held For Sale
MortgageDebtOfAssetsHeldForSale
180000000 USD
CY2012Q3 drh Mortgage Loan Receivable Interest Rate Margin Above Libor
MortgageLoanReceivableInterestRateMarginAboveLibor
0.0692
drh Non Cash Ground Rent
NonCashGroundRent
4878000 USD
drh Line Of Credit Facility Leverage Ratio
LineOfCreditFacilityLeverageRatio
4.98
CY2012Q3 drh Lock Up Agreement Period
LockUpAgreementPeriod
P150D
CY2012Q3 drh Long Term Debt Components Mortgage Loan
LongTermDebtComponentsMortgageLoan
898471000 USD
CY2012Q3 drh Mortgage Debt Of Assets Held For Sale
MortgageDebtOfAssetsHeldForSale
0 USD
CY2012Q3 drh Number Of Hotel Properties Secured By Mortgage Debt
NumberOfHotelPropertiesSecuredByMortgageDebt
11 hotels
CY2012Q3 drh Number Of Rooms In Hotel That Secures Senior Loan We Own
NumberOfRoomsInHotelThatSecuresSeniorLoanWeOwn
443 rooms
CY2010Q2 drh Number Of Rooms In Hotel That Secures Senior Loan We Own
NumberOfRoomsInHotelThatSecuresSeniorLoanWeOwn
443
CY2012Q3 drh Number Of Rooms In Hotels And Resorts Owned
NumberOfRoomsInHotelsAndResortsOwned
11868 rooms
drh Operating Partnership Units Option To Redeem For Common Stock Ratio
OperatingPartnershipUnitsOptionToRedeemForCommonStockRatio
1
drh Percent Of Unused Portion Line Of Credit Facility Trigerring Commitment Fee Percentage
PercentOfUnusedPortionLineOfCreditFacilityTrigerringCommitmentFeePercentage
0.50
CY2012Q3 drh Performance Management Written Notice To Terminate Period
PerformanceManagementWrittenNoticeToTerminatePeriod
P30D
CY2012Q1 drh Proceeds Of Hotel Working Capital And Cash Previously Held In Restricted Escrow Accounts Net Of Closing Costs
ProceedsOfHotelWorkingCapitalAndCashPreviouslyHeldInRestrictedEscrowAccountsNetOfClosingCosts
10000000 USD
drh Receipt Of Deferred Key Money
ReceiptOfDeferredKeyMoney
3430000 USD
drh Receipt Of Deferred Key Money
ReceiptOfDeferredKeyMoney
479000 USD
CY2012Q2 drh Settlement Paid Into Escrow
SettlementPaidIntoEscrow
1700000 USD
CY2011Q4 drh Total Other Liabilities
TotalOtherLiabilities
253545000 USD
CY2012Q3 drh Total Other Liabilities
TotalOtherLiabilities
253369000 USD
CY2012Q3 drh Unpaid Base Management Fee Required To Be Paid If Termination Rights Exercised
UnpaidBaseManagementFeeRequiredToBePaidIfTerminationRightsExercised
0.01
drh Weeks In First Three Reporting Quarters
WeeksInFirstThreeReportingQuarters
12 weeks
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-07
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001298946
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
195145707 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
DiamondRock Hospitality Co

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