2017 Q4 Form 10-K Financial Statement

#000149764518000005 Filed on February 21, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 2016 Q4
Revenue $131.7M $515.4M $110.3M
YoY Change 19.42% 8.74% 0.26%
Cost Of Revenue $84.80M $325.6M $71.30M
YoY Change 18.93% 10.12% -2.19%
Gross Profit $46.90M $189.8M $39.10M
YoY Change 19.95% 6.46% 5.11%
Gross Profit Margin 35.6% 36.82% 35.44%
Selling, General & Admin $4.600M $19.60M $4.900M
YoY Change -6.12% 1.55% 11.36%
% of Gross Profit 9.81% 10.33% 12.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.80M $85.93M $18.70M
YoY Change 27.27% 18.67% 6.86%
% of Gross Profit 50.75% 45.28% 47.83%
Operating Expenses $28.50M $105.5M $23.60M
YoY Change 20.76% 15.17% 7.76%
Operating Profit $18.40M $127.1M $15.50M
YoY Change 18.71% -3.96% 1.31%
Interest Expense -$8.200M $29.69M -$6.900M
YoY Change 18.84% 5.68% -6.76%
% of Operating Profit -44.57% 23.36% -44.52%
Other Income/Expense, Net $900.0K -$25.91M $700.0K
YoY Change 28.57% 1.48% -93.69%
Pretax Income $10.80M $101.2M $8.500M
YoY Change 27.06% -5.26% -89.84%
Income Tax $500.0K $1.674M -$1.900M
% Of Pretax Income 4.63% 1.65% -22.35%
Net Earnings $9.769M $99.21M $10.37M
YoY Change -5.81% -7.97% -87.68%
Net Earnings / Revenue 7.42% 19.25% 9.4%
Basic Earnings Per Share $0.02 $0.79
Diluted Earnings Per Share $0.02 $0.79 $117.9K
COMMON SHARES
Basic Shares Outstanding 104.3M shares 99.41M shares 87.35M shares
Diluted Shares Outstanding 99.78M shares

Balance Sheet

Concept 2017 Q4 2017 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.50M $36.50M $34.70M
YoY Change 5.19% 5.19% 18.43%
Cash & Equivalents $36.55M $36.50M $34.69M
Short-Term Investments
Other Short-Term Assets $9.500M $9.500M $6.500M
YoY Change 46.15% 46.15% -57.52%
Inventory
Prepaid Expenses
Receivables $17.00M $17.00M $11.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $63.00M $63.00M $53.00M
YoY Change 18.87% 18.87% -1.85%
LONG-TERM ASSETS
Property, Plant & Equipment $2.060B $2.060B $1.539B
YoY Change 33.83% 33.83% 15.41%
Goodwill
YoY Change
Intangibles $21.76M $6.254M
YoY Change 247.99%
Long-Term Investments $36.10M $36.10M $17.60M
YoY Change 105.11% 105.11% 37.5%
Other Assets $35.90M $35.90M $91.30M
YoY Change -60.68% -60.68% -42.87%
Total Long-Term Assets $2.147B $2.147B $1.666B
YoY Change 28.9% 28.9% 9.47%
TOTAL ASSETS
Total Short-Term Assets $63.00M $63.00M $53.00M
Total Long-Term Assets $2.147B $2.147B $1.666B
Total Assets $2.210B $2.210B $1.719B
YoY Change 28.59% 28.59% 9.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.800M $7.800M $4.600M
YoY Change 69.57% 69.57% 58.62%
Accrued Expenses $56.50M $56.50M $46.90M
YoY Change 20.47% 20.47% 11.14%
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 $64.30M $64.30M $51.50M
YoY Change 24.85% 24.85% 14.19%
LONG-TERM LIABILITIES
Long-Term Debt $868.2M $868.2M $652.4M
YoY Change 33.08% 33.08% -2.84%
Other Long-Term Liabilities $1.100M
YoY Change -38.89%
Total Long-Term Liabilities $868.2M $868.2M $653.5M
YoY Change 32.85% 32.85% -2.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.30M $64.30M $51.50M
Total Long-Term Liabilities $868.2M $868.2M $653.5M
Total Liabilities $932.5M $935.4M $705.0M
YoY Change 32.26% 32.03% -1.87%
SHAREHOLDERS EQUITY
Retained Earnings $9.201M -$1.422M
YoY Change -747.05% -96.5%
Common Stock $1.043M $935.0K
YoY Change 11.55% 7.72%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.275B $1.275B $1.010B
YoY Change
Total Liabilities & Shareholders Equity $2.210B $2.210B $1.719B
YoY Change 28.59% 28.59% 9.08%

Cashflow Statement

Concept 2017 Q4 2017 2016 Q4
OPERATING ACTIVITIES
Net Income $9.769M $99.21M $10.37M
YoY Change -5.81% -7.97% -87.68%
Depreciation, Depletion And Amortization $23.80M $85.93M $18.70M
YoY Change 27.27% 18.67% 6.86%
Cash From Operating Activities $31.20M $147.8M $24.30M
YoY Change 28.4% 8.12% -32.12%
INVESTING ACTIVITIES
Capital Expenditures -$164.1M -$588.8M -$75.00M
YoY Change 118.8% 140.62% -9.31%
Acquisitions
YoY Change
Other Investing Activities -$35.10M $77.10M -$6.100M
YoY Change 475.41% -17.36% -104.01%
Cash From Investing Activities -$199.2M -$511.7M -$81.20M
YoY Change 145.32% 237.89% -216.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 152.5M $370.3M 52.90M
YoY Change 188.28% 1592.68% -148.98%
NET CHANGE
Cash From Operating Activities 31.20M $147.8M 24.30M
Cash From Investing Activities -199.2M -$511.7M -81.20M
Cash From Financing Activities 152.5M $370.3M 52.90M
Net Change In Cash -15.50M $6.432M -4.000M
YoY Change 287.5% -10.37% 48.15%
FREE CASH FLOW
Cash From Operating Activities $31.20M $147.8M $24.30M
Capital Expenditures -$164.1M -$588.8M -$75.00M
Free Cash Flow $195.3M $736.6M $99.30M
YoY Change 96.68% 93.12% -16.2%

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CY2016Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
245437000 USD
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
591562000 USD
CY2016Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
442000 USD
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangibles
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles
16162000 USD
CY2016Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
28683000 USD
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
98639000 USD
CY2016Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
244700000 USD
CY2016Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
244714000 USD
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
588800000 USD
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
588822000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38581000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29326000 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34694000 USD
CY2016 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.55
CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.67
CY2016Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2016Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
93525469 shares
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
104287128 shares
CY2015Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
86793521 shares
CY2016Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
93525469 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
104287128 shares
CY2016Q4 us-gaap Common Stock Value
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935000 USD
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
1043000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
124517000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
108494000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
101642000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
820000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
460000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
316000 USD
CY2015 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
125337000 USD
CY2016 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
108954000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
101958000 USD
CY2015 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
121974000 USD
CY2016 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
120852000 USD
CY2017 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
135219000 USD
CY2015 us-gaap Cost Of Revenue
CostOfRevenue
295828000 USD
CY2016 us-gaap Cost Of Revenue
CostOfRevenue
295681000 USD
CY2017 us-gaap Cost Of Revenue
CostOfRevenue
325604000 USD
CY2015 us-gaap Costs And Expenses
CostsAndExpenses
383445000 USD
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
391448000 USD
CY2017 us-gaap Costs And Expenses
CostsAndExpenses
431482000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
81000 USD
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
37000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
10000 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
408000 USD
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
904000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
777000 USD
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
657550000 USD
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
873109000 USD
CY2016Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0369
CY2017Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0389
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-159000 USD
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1918000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
232000 USD
CY2016Q1 us-gaap Deferred Gain On Sale Of Property
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20000000 USD
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
64000 USD
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2391000 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
887000 USD
CY2016Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
77000 USD
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
33000 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
223000 USD
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-473000 USD
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
49000 USD
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2580000 USD
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1649000 USD
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
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2503000 USD
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1616000 USD
CY2016Q4 us-gaap Deferred Tax Assets Other
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-8000 USD
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
23000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
767000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
449000 USD
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1744000 USD
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1144000 USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000 USD
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
300000 USD
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000 USD
CY2015 us-gaap Depreciation
Depreciation
63700000 USD
CY2016 us-gaap Depreciation
Depreciation
72100000 USD
CY2017 us-gaap Depreciation
Depreciation
85500000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
64052000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
72406000 USD
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
85927000 USD
CY2016Q4 us-gaap Derivative Assets
DerivativeAssets
0 USD
CY2017Q4 us-gaap Derivative Assets
DerivativeAssets
1509000 USD
CY2016Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
1118000 USD
CY2017Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
190000 USD
CY2016Q4 us-gaap Development In Process
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0 USD
CY2017Q4 us-gaap Development In Process
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23793000 USD
CY2015 us-gaap Dividends Cash
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57602000 USD
CY2016 us-gaap Dividends Cash
DividendsCash
66713000 USD
CY2017 us-gaap Dividends Cash
DividendsCash
86260000 USD
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.00
CY2017Q1 us-gaap Earnings Per Share Basic
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0.31
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.30
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
CY2016Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.51
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.20
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.25
CY2016Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.04
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.24
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.00
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.17
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.02
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.79
CY2016Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
10802000 USD
CY2017Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
8556000 USD
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
6717000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
348000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1001000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
8727000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
699000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
274000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
360000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
370000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
499000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
10929000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets
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49855000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
43209000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
65067000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
44855000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
28209000 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21204000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19292000 USD
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19597000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
125809000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
106811000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
101195000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
553000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1450000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1674000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-2448000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
44033000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
37384000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
35418000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
817000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
548000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
716000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
41619000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
38575000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
35073000 USD
CY2015 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2436000 USD
CY2016 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1228000 USD
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
623000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4324000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1676000 USD
CY2017 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-491000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1727000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2655000 USD
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5032000 USD
CY2015 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
5038000 USD
CY2016 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2803000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4595000 USD
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-28000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
626000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2454000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-11304000 USD
CY2016 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
3003000 USD
CY2017 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
3812000 USD
CY2015 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-18000 USD
CY2016 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-1195000 USD
CY2017 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
769000 USD
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1224000 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
469000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
374000 shares
CY2016Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
6602000 USD
CY2017Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
22764000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6254000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
21763000 USD
CY2015 us-gaap Interest Expense
InterestExpense
30414000 USD
CY2016 us-gaap Interest Expense
InterestExpense
28091000 USD
CY2017 us-gaap Interest Expense
InterestExpense
29687000 USD
CY2015 us-gaap Interest Paid
InterestPaid
28927000 USD
CY2016 us-gaap Interest Paid
InterestPaid
26156000 USD
CY2017 us-gaap Interest Paid
InterestPaid
27362000 USD
CY2015 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
75000 USD
CY2016 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
0 USD
CY2017 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
301000 USD
CY2016Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1655000 USD
CY2017Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1958000 USD
CY2016Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
5742000 USD
CY2017Q4 us-gaap Land Available For Development
LandAvailableForDevelopment
2942000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
705035000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
932498000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1718505000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2209874000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
652414000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
868236000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
151064000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8154000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
369269000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
164155000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
63489000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
116978000 USD
CY2016Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
359867000 USD
CY2017Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
386313000 USD
CY2016Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
297683000 USD
CY2017Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
486796000 USD
CY2017 us-gaap Maximum Length Of Time Hedged In Interest Rate Cash Flow Hedge1
MaximumLengthOfTimeHedgedInInterestRateCashFlowHedge1
P6Y
CY2016Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
3428000 USD
CY2017Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
2874000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
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-10359000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21876000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
370448000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-131112000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-154443000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-515520000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
132216000 USD
CY2016Q2 us-gaap Net Income Loss
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21865000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
137935000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
146923000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2437000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2138000 USD
CY2015 us-gaap Net Income Loss
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124437000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
48485000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2055000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
27083000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
10372000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Summit Hotel Properties,&#160;Inc. (the &#8220;Company&#8221;) is a self-managed hotel investment company that was organized on June&#160;30, 2010 as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the &#8220;Operating Partnership&#8221;), a Delaware limited partnership also organized on June&#160;30, 2010. On February&#160;14, 2011, the Company closed on its initial public offering and completed certain formation transactions, including the merger of Summit Hotel Properties, LLC with and into the Operating Partnership. Unless the context otherwise requires, &#8220;we&#8221;, &#8220;us&#8221;, and &#8220;our&#8221; refer to the Company and its consolidated subsidiaries.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We focus primarily on owning premium-branded, select-service hotels. At </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, our portfolio consisted of </font><font style="font-family:inherit;font-size:10pt;">83</font><font style="font-family:inherit;font-size:10pt;"> hotels with a total of </font><font style="font-family:inherit;font-size:10pt;">12,242</font><font style="font-family:inherit;font-size:10pt;"> guestrooms located in </font><font style="font-family:inherit;font-size:10pt;">26</font><font style="font-family:inherit;font-size:10pt;"> states. We have elected to be taxed as a real estate investment trust (&#8220;REIT&#8221;) for federal income tax purposes commencing with our short taxable year ended December&#160;31, 2011. To qualify as a REIT, we cannot operate or manage our hotels. Accordingly, all of our hotels are leased to subsidiaries (&#8220;TRS Lessees&#8221;) of our taxable REIT subsidiary (&#8220;TRS&#8221;). We indirectly own </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> of the outstanding equity interests in all of our TRS Lessees.</font></div></div>
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts reported in previous periods have been reclassified to conform to the current presentation, such as the reporting of deferred financing costs and the reclassification of certain intangible assets related to our acquisitions of hotel properties from Other assets to Investment in hotel properties, net, on the Company's balance sheet. Reclassifications had no net effect on the Company&#8217;s previously reported financial position or results of operations.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

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