2018 Q4 Form 10-K Financial Statement

#000149764519000005 Filed on February 26, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4 2017 Q3
Revenue $132.5M $131.7M $136.6M
YoY Change 0.58% 19.42% 15.42%
Cost Of Revenue $74.40M $84.80M $86.07M
YoY Change -12.26% 18.93% 17.05%
Gross Profit $58.10M $46.90M $50.52M
YoY Change 23.88% 19.95% 12.75%
Gross Profit Margin 43.85% 35.6% 36.99%
Selling, General & Admin $15.50M $4.600M $4.600M
YoY Change 236.96% -6.12% 4.55%
% of Gross Profit 26.68% 9.81% 9.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.90M $23.80M $23.60M
YoY Change 8.82% 27.27% 31.84%
% of Gross Profit 44.58% 50.75% 46.72%
Operating Expenses $41.40M $28.50M $28.10M
YoY Change 45.26% 20.76% 26.01%
Operating Profit $16.70M $18.40M $22.37M
YoY Change -9.24% 18.71% 4.41%
Interest Expense -$11.40M -$8.200M $7.768M
YoY Change 39.02% 18.84% 17.24%
% of Operating Profit -68.26% -44.57% 34.72%
Other Income/Expense, Net $1.400M $900.0K -$159.0K
YoY Change 55.56% 28.57% -103.51%
Pretax Income $5.000M $10.80M $22.21M
YoY Change -53.7% 27.06% -14.41%
Income Tax -$800.0K $500.0K -$231.0K
% Of Pretax Income -16.0% 4.63% -1.04%
Net Earnings $5.756M $9.769M $22.39M
YoY Change -41.08% -5.81% -17.33%
Net Earnings / Revenue 4.34% 7.42% 16.39%
Basic Earnings Per Share $0.02 $0.02 $0.18
Diluted Earnings Per Share $0.02 $0.02 $0.17
COMMON SHARES
Basic Shares Outstanding 104.8M shares 104.3M shares 103.3M shares
Diluted Shares Outstanding 103.6M shares

Balance Sheet

Concept 2018 Q4 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.10M $36.50M $52.50M
YoY Change 20.82% 5.19% 29.63%
Cash & Equivalents $44.09M $36.55M $52.45M
Short-Term Investments
Other Short-Term Assets $10.10M $9.500M $5.300M
YoY Change 6.32% 46.15% -33.75%
Inventory
Prepaid Expenses
Receivables $14.00M $17.00M $20.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $68.20M $63.00M $78.70M
YoY Change 8.25% 18.87% 23.55%
LONG-TERM ASSETS
Property, Plant & Equipment $2.066B $2.060B $1.903B
YoY Change 0.3% 33.83% 29.39%
Goodwill
YoY Change
Intangibles $20.96M $21.76M $21.97M
YoY Change -3.71% 247.99%
Long-Term Investments $30.70M $36.10M $18.80M
YoY Change -14.96% 105.11% 6.82%
Other Assets $40.80M $35.90M $34.80M
YoY Change 13.65% -60.68% -62.13%
Total Long-Term Assets $2.154B $2.147B $1.965B
YoY Change 0.34% 28.9% 23.09%
TOTAL ASSETS
Total Short-Term Assets $68.20M $63.00M $78.70M
Total Long-Term Assets $2.154B $2.147B $1.965B
Total Assets $2.222B $2.210B $2.044B
YoY Change 0.56% 28.59% 23.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.400M $7.800M $7.300M
YoY Change -30.77% 69.57% 73.81%
Accrued Expenses $66.10M $56.50M $56.30M
YoY Change 16.99% 20.47% 4.65%
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 $71.50M $64.30M $63.60M
YoY Change 11.2% 24.85% 9.66%
LONG-TERM LIABILITIES
Long-Term Debt $958.7M $868.2M $772.3M
YoY Change 10.42% 33.08% 24.79%
Other Long-Term Liabilities $400.0K
YoY Change -78.95%
Total Long-Term Liabilities $958.7M $868.2M $772.7M
YoY Change 10.42% 32.85% 24.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $71.50M $64.30M $63.60M
Total Long-Term Liabilities $958.7M $868.2M $772.7M
Total Liabilities $1.030B $932.5M $836.3M
YoY Change 10.47% 32.26% 23.2%
SHAREHOLDERS EQUITY
Retained Earnings $4.838M $9.201M $24.78M
YoY Change -47.42% -747.05% 161.7%
Common Stock $1.048M $1.043M $1.043M
YoY Change 0.48% 11.55% 19.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.190B $1.275B $1.205B
YoY Change
Total Liabilities & Shareholders Equity $2.222B $2.210B $2.044B
YoY Change 0.56% 28.59% 23.11%

Cashflow Statement

Concept 2018 Q4 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $5.756M $9.769M $22.39M
YoY Change -41.08% -5.81% -17.33%
Depreciation, Depletion And Amortization $25.90M $23.80M $23.60M
YoY Change 8.82% 27.27% 31.84%
Cash From Operating Activities $32.70M $31.20M $46.50M
YoY Change 4.81% 28.4% 8.39%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$164.1M -$57.60M
YoY Change -100.0% 118.8% -4.79%
Acquisitions
YoY Change
Other Investing Activities -$18.70M -$35.10M $22.60M
YoY Change -46.72% 475.41% 545.71%
Cash From Investing Activities -$18.70M -$199.2M -$35.00M
YoY Change -90.61% 145.32% -38.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -33.50M 152.5M 14.60M
YoY Change -121.97% 188.28% -166.67%
NET CHANGE
Cash From Operating Activities 32.70M 31.20M 46.50M
Cash From Investing Activities -18.70M -199.2M -35.00M
Cash From Financing Activities -33.50M 152.5M 14.60M
Net Change In Cash -19.50M -15.50M 26.10M
YoY Change 25.81% 287.5% -172.7%
FREE CASH FLOW
Cash From Operating Activities $32.70M $31.20M $46.50M
Capital Expenditures $0.00 -$164.1M -$57.60M
Free Cash Flow $32.70M $195.3M $104.1M
YoY Change -83.26% 96.68% 0.68%

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66007000 USD
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
72556000 USD
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7176000 USD
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6432000 USD
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6549000 USD
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CY2018Q4 us-gaap Commitments And Contingencies
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0.55
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0.01
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0.01
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500000000 shares
CY2018Q4 us-gaap Common Stock Shares Authorized
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500000000 shares
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104287128 shares
CY2018Q4 us-gaap Common Stock Shares Issued
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104783179 shares
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CY2017Q4 us-gaap Common Stock Shares Outstanding
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CY2018Q4 us-gaap Common Stock Shares Outstanding
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1043000 USD
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CY2017 us-gaap Comprehensive Income Net Of Tax
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CY2018 us-gaap Comprehensive Income Net Of Tax
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460000 USD
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316000 USD
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197000 USD
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108954000 USD
CY2017 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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101958000 USD
CY2018 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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88226000 USD
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431482000 USD
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483545000 USD
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37000 USD
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10000 USD
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904000 USD
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777000 USD
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232000 USD
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33000 USD
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40000 USD
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CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
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49000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
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1649000 USD
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2086000 USD
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1616000 USD
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2046000 USD
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23000 USD
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CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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449000 USD
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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154000 USD
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1144000 USD
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1893000 USD
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300000 USD
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200000 USD
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200000 USD
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100500000 USD
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72406000 USD
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85927000 USD
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101013000 USD
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1509000 USD
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0.31
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190000 USD
CY2018Q4 us-gaap Derivative Liabilities
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5042000 USD
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23793000 USD
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0.30
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0.17
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0.02
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0.02
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1.00
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0.79
CY2018 us-gaap Earnings Per Share Basic And Diluted
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0.68
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0.31
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0.30
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0.02
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0.01
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0.33
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0.33
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0.01
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0.32
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0.33
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0.02
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8556000 USD
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6577000 USD
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1001000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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1108000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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8453000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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399000 USD
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274000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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274000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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360000 USD
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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362000 USD
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10122000 USD
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43209000 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets
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41474000 USD
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44855000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets1
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28209000 USD
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41474000 USD
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19292000 USD
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21509000 USD
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106811000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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101195000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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90204000 USD
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IncomeTaxExpenseBenefit
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IncomeTaxExpenseBenefit
1674000 USD
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-922000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
606000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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0 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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37384000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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35418000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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18943000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense
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31000 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense
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17000 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
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-184000 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
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
266000 USD
CY2016 us-gaap Income Tax Reconciliation Tax Exempt Income
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38575000 USD
CY2017 us-gaap Income Tax Reconciliation Tax Exempt Income
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35073000 USD
CY2018 us-gaap Income Tax Reconciliation Tax Exempt Income
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19073000 USD
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1228000 USD
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623000 USD
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839000 USD
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1676000 USD
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-491000 USD
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-424000 USD
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2655000 USD
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5032000 USD
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-2787000 USD
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2803000 USD
CY2017 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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4595000 USD
CY2018 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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1341000 USD
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626000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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2454000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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1127000 USD
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469000 shares
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IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
374000 shares
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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219000 shares
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22764000 USD
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22064000 USD
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21763000 USD
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20956000 USD
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28091000 USD
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29687000 USD
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41944000 USD
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0 USD
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301000 USD
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446000 USD
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26156000 USD
CY2017 us-gaap Interest Paid Net
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27362000 USD
CY2018 us-gaap Interest Paid Net
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38743000 USD
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1958000 USD
CY2018Q4 us-gaap Interest Payable Current And Noncurrent
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3186000 USD
CY2017Q4 us-gaap Land Available For Development
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2942000 USD
CY2018Q4 us-gaap Land Available For Development
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2267000 USD
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932498000 USD
CY2018Q4 us-gaap Liabilities
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1030153000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
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2209874000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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2222297000 USD
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12356000 USD
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30700000 USD
CY2017Q4 us-gaap Long Term Debt
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958712000 USD
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481923000 USD
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4647000 USD
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209238000 USD
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229264000 USD
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14151000 USD
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25788000 USD
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0.44
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0.59
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0.56
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0.41
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386313000 USD
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569103000 USD
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486796000 USD
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395908000 USD
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P7Y
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2874000 USD
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2295000 USD
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21876000 USD
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370448000 USD
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-151440000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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-511708000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-63057000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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136740000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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147692000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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161651000 USD
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107805000 USD
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33086000 USD
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33969000 USD
CY2017Q3 us-gaap Net Income Loss
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22390000 USD
CY2018Q4 us-gaap Number Of Real Estate Properties
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77 hotel
CY2018 us-gaap Number Of Reportable Segments
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1 Segment
CY2017Q4 us-gaap Net Income Loss
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9769000 USD
CY2017 us-gaap Net Income Loss
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99214000 USD
CY2018Q1 us-gaap Net Income Loss
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9688000 USD
CY2018Q2 us-gaap Net Income Loss
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37576000 USD
CY2018Q3 us-gaap Net Income Loss
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37901000 USD
CY2018Q4 us-gaap Net Income Loss
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5756000 USD
CY2018 us-gaap Net Income Loss
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90921000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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87448000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
79234000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
70973000 USD
CY2016 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
456000 USD
CY2017 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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307000 USD
CY2018 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
205000 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25531000 USD
CY2017 us-gaap Nonoperating Income Expense
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-25909000 USD
CY2018 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-34995000 USD
CY2018Q4 us-gaap Number Of States In Which Entity Operates
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26 State
CY2017Q4 us-gaap Number Of Units In Real Estate Property
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2442 Room
CY2017Q4 us-gaap Off Market Lease Unfavorable
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4717000 USD
CY2018Q4 us-gaap Off Market Lease Unfavorable
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4623000 USD
CY2016 us-gaap Operating Income Loss
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132342000 USD
CY2017 us-gaap Operating Income Loss
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127104000 USD
CY2018 us-gaap Operating Income Loss
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125199000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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38889000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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6383000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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849000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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1715000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1935000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2052000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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25955000 USD
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8894000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
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9801000 USD
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12431000 USD
CY2018Q4 us-gaap Other Assets
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14807000 USD
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693000 USD
CY2017 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
2437000 USD
CY2018 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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-2900000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
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693000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
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2437000 USD
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
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-2900000 USD
CY2016 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-180000 USD
CY2017 us-gaap Other Noncash Income Expense
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-323000 USD
CY2018 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1171000 USD
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2560000 USD
CY2017 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3778000 USD
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6949000 USD
CY2016 us-gaap Payments For Capital Improvements
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42433000 USD
CY2017 us-gaap Payments For Capital Improvements
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37191000 USD
CY2018 us-gaap Payments For Capital Improvements
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66610000 USD
CY2016 us-gaap Payments Of Financing Costs
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1948000 USD
CY2017 us-gaap Payments Of Financing Costs
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1796000 USD
CY2018 us-gaap Payments Of Financing Costs
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3978000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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1265000 USD
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
961000 USD
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2724000 USD
CY2016 us-gaap Payments To Acquire Notes Receivable
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27500000 USD
CY2017 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
17935000 USD
CY2018 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
16245000 USD
CY2016 us-gaap Payments To Acquire Real Estate
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244714000 USD
CY2017 us-gaap Payments To Acquire Real Estate
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588822000 USD
CY2018 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
71002000 USD
CY2016 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
0 USD
CY2017 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
20993000 USD
CY2018 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
13430000 USD
CY2016 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
18232000 USD
CY2017 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
17408000 USD
CY2018 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
16671000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
2125000 USD
CY2017 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
2572000 USD
CY2018 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
3277000 USD
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
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9454000 USD
CY2018Q4 us-gaap Prepaid Expense And Other Assets
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10111000 USD
CY2017Q4 us-gaap Prepaid Insurance
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3020000 USD
CY2018Q4 us-gaap Prepaid Insurance
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2822000 USD
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405000000 USD
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667640000 USD
CY2018 us-gaap Proceeds From Issuance Of Debt
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815000000 USD
CY2016 us-gaap Proceeds From Issuance Or Sale Of Equity
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161347000 USD
CY2017 us-gaap Proceeds From Issuance Or Sale Of Equity
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318307000 USD
CY2018 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 USD
CY2016 us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
ProceedsFromRepurchaseOfRedeemablePreferredStock
-50000000 USD
CY2017 us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
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-75025000 USD
CY2018 us-gaap Proceeds From Repurchase Of Redeemable Preferred Stock
ProceedsFromRepurchaseOfRedeemablePreferredStock
-85000000 USD
CY2016 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
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7814000 USD
CY2017 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
32500000 USD
CY2018 us-gaap Proceeds From Sale And Collection Of Mortgage Notes Receivable
ProceedsFromSaleAndCollectionOfMortgageNotesReceivable
200000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
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293542000 USD
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73712000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
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2037143000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
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295414000 USD
CY2016 us-gaap Real Estate Cost Of Real Estate Sold
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125039000 USD
CY2017 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
129339000 USD
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
100208000 USD
CY2018Q1 us-gaap Profit Loss
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9691000 USD
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1683803000 USD
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1848673000 USD
CY2018Q2 us-gaap Profit Loss
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37677000 USD
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
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2355723000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
2406269000 USD
CY2016 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
145347000 USD
CY2017 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
120733000 USD
CY2018 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
104030000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
38001000 USD
CY2016 us-gaap Profit Loss
ProfitLoss
108261000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
33206000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
34083000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
22445000 USD
CY2017Q4 us-gaap Profit Loss
ProfitLoss
9787000 USD
CY2017 us-gaap Profit Loss
ProfitLoss
99521000 USD
CY2018Q4 us-gaap Profit Loss
ProfitLoss
5757000 USD
CY2018 us-gaap Profit Loss
ProfitLoss
91126000 USD
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
600000 USD
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
700000 USD
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
600000 USD
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
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212207000 USD
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
241760000 USD
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
290066000 USD
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
351821000 USD
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RealEstateAccumulatedDepreciationRealEstateSold
42510000 USD
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
37218000 USD
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
38790000 USD
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2112727000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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291067000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
347622000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
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2350559000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
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2413176000 USD
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2059492000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2065554000 USD
CY2016 us-gaap Real Estate Other Additions
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290486000 USD
CY2017 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
636389000 USD
CY2018 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
151829000 USD
CY2016 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
30250000 USD
CY2017 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
37419000 USD
CY2018 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
43339000 USD
CY2016 us-gaap Repayments Of Debt
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424545000 USD
CY2017 us-gaap Repayments Of Debt
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452082000 USD
CY2018 us-gaap Repayments Of Debt
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723098000 USD
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
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29462000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
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28468000 USD
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9201000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
4838000 USD
CY2016 us-gaap Revenues
Revenues
473935000 USD
CY2017Q1 us-gaap Revenues
Revenues
117989000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
85524000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
100545000 USD
CY2017Q2 us-gaap Revenues
Revenues
129056000 USD
CY2017Q3 us-gaap Revenues
Revenues
136587000 USD
CY2017Q4 us-gaap Revenues
Revenues
131745000 USD
CY2017 us-gaap Revenues
Revenues
515377000 USD
CY2018Q1 us-gaap Revenues
Revenues
140199000 USD
CY2018Q2 us-gaap Revenues
Revenues
152222000 USD
CY2018Q3 us-gaap Revenues
Revenues
142340000 USD
CY2018Q4 us-gaap Revenues
Revenues
132509000 USD
CY2018 us-gaap Revenues
Revenues
567270000 USD
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SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
72063000 USD
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SECScheduleIIIRealEstateInvestmentPropertyNet
2054448000 USD
CY2016 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
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577000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
0 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
1075000 USD
CY2016 us-gaap Share Based Compensation
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4221000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
5887000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
6665000 USD
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235000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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235000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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235000 shares
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1000000 USD
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1500000 USD
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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1300000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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0 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
235000 shares
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
235000 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
235000 shares
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9.75
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1500000 USD
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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1300000 USD
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y3M
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
300000 USD
CY2017 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
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59111 shares
CY2018 us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
187850 shares
CY2017 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
73322 shares
CY2018 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
64126 shares
CY2017 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
10350000 shares
CY2018 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
0 shares
CY2017 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
2320 shares
CY2018 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
1636 shares
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5887000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1277376000 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4221000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6665000 USD
CY2016 us-gaap Stock Redeemed Or Called During Period Value
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50000000 USD
CY2017 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
75025000 USD
CY2018 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
85000000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
1274502000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
1189849000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
856926000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1013470000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1192144000 USD
CY2018 us-gaap Stockholders Equity Other
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174000 USD
CY2017Q4 us-gaap Taxes Payable Current And Noncurrent
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16664000 USD
CY2018Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
19570000 USD
CY2017Q4 us-gaap Unamortized Debt Issuance Expense
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4873000 USD
CY2018Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6299000 USD
CY2016 us-gaap Undistributed Earnings
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87106000 USD
CY2017 us-gaap Undistributed Earnings
UndistributedEarnings
78927000 USD
CY2018 us-gaap Undistributed Earnings
UndistributedEarnings
70702000 USD
CY2016 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
342000 USD
CY2017 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
307000 USD
CY2018 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
271000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits
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0 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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87343000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
99780000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103842000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86874000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
99406000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103623000 shares
CY2018 us-gaap Nature Of Operations
NatureOfOperations
<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, 2018</font><font style="font-family:inherit;font-size:10pt;">, our portfolio consisted of </font><font style="font-family:inherit;font-size:10pt;">77</font><font style="font-family:inherit;font-size:10pt;"> hotels with a total of </font><font style="font-family:inherit;font-size:10pt;">11,659</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>
CY2018 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 the Consolidated Statements of Operations in previous periods have been disaggregated and reclassified to conform to the current period presentation. Revenues have been disaggregated into Rooms, Food and beverage, and Other. Direct and Indirect expense has been reclassified into Room, Food and beverage, and Other hotel operating expenses. Property taxes, insurance and other, and Management expenses are also separately reported. Additionally, Gain on disposal of assets, net has been reclassified from other income into operating income.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have also reclassified certain intangible assets related to our acquisitions of hotel properties from Other assets to Investment in hotel properties, net, on the Consolidated Balance Sheet. See "Note 3 - Investment in Hotel Properties, net" of our Consolidated Financial Statements for further details.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These reclassifications, made at December 31, 2018 and for the year then ended, had no net effect on the previously reported financial position or results of operations.</font></div></div>
CY2018 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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