2020 Q4 Form 10-Q Financial Statement

#000149764520000016 Filed on November 03, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $48.23M $52.41M $133.7M
YoY Change -63.95% -60.79% -6.08%
Cost Of Revenue $35.30M $35.70M $75.00M
YoY Change -53.67% -52.4% -6.48%
Gross Profit $12.90M $16.70M $58.70M
YoY Change -77.6% -71.55% -5.63%
Gross Profit Margin 26.75% 31.86% 43.91%
Selling, General & Admin $16.90M $15.70M $16.20M
YoY Change -3.98% -3.09% 7.28%
% of Gross Profit 131.01% 94.01% 27.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $27.50M $27.50M $23.20M
YoY Change 2.23% 18.53% -6.83%
% of Gross Profit 213.18% 164.67% 39.52%
Operating Expenses $46.60M $43.20M $39.40M
YoY Change 4.48% 9.64% -1.5%
Operating Profit -$33.70M -$26.28M $19.24M
YoY Change -359.23% -236.57% -59.05%
Interest Expense -$10.60M $10.90M $9.450M
YoY Change -3.64% 15.39% -12.89%
% of Operating Profit 49.11%
Other Income/Expense, Net $600.0K -$9.626M -$7.642M
YoY Change -72.73% 25.96% -19.74%
Pretax Income -$44.90M -$35.91M $11.60M
YoY Change -588.04% -409.49% -69.04%
Income Tax -$200.0K -$100.0K -$24.00K
% Of Pretax Income -0.21%
Net Earnings -$43.05M -$34.55M $11.53M
YoY Change -565.85% -399.51% -69.57%
Net Earnings / Revenue -89.27% -65.91% 8.63%
Basic Earnings Per Share -$0.45 -$0.37
Diluted Earnings Per Share -$0.45 -$0.37 $110.6K
COMMON SHARES
Basic Shares Outstanding 105.7M shares 104.2M shares 103.9M shares
Diluted Shares Outstanding 104.2M shares 104.0M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.70M $39.10M $48.10M
YoY Change -50.95% -18.71% -20.5%
Cash & Equivalents $20.72M $39.08M $48.09M
Short-Term Investments
Other Short-Term Assets $9.800M $6.700M $10.50M
YoY Change 11.36% -36.19% 66.67%
Inventory
Prepaid Expenses
Receivables $11.80M $12.50M $18.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $42.30M $58.30M $77.10M
YoY Change -34.21% -24.38% -15.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.134B $2.154B $1.978B
YoY Change -3.6% 8.91% -5.02%
Goodwill
YoY Change
Intangibles $10.92M
YoY Change -0.78%
Long-Term Investments $23.70M $29.70M $31.00M
YoY Change -23.3% -4.19% 5.44%
Other Assets $23.00M $22.30M $49.30M
YoY Change -29.66% -54.77% 31.12%
Total Long-Term Assets $2.191B $2.217B $2.072B
YoY Change -4.39% 6.98% -4.6%
TOTAL ASSETS
Total Short-Term Assets $42.30M $58.30M $77.10M
Total Long-Term Assets $2.191B $2.217B $2.072B
Total Assets $2.233B $2.275B $2.149B
YoY Change -5.21% 5.85% -5.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.700M $3.600M $5.300M
YoY Change -43.75% -32.08% 1.92%
Accrued Expenses $83.50M $91.10M $103.5M
YoY Change -8.64% -11.98% 44.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.900M $3.900M $3.700M
YoY Change 5.41% 5.41%
Total Short-Term Liabilities $90.10M $98.60M $112.5M
YoY Change -9.81% -12.36% 46.87%
LONG-TERM LIABILITIES
Long-Term Debt $1.091B $1.080B $839.8M
YoY Change 7.74% 28.63% -13.34%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.091B $1.080B $839.8M
YoY Change 7.74% 28.63% -13.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $90.10M $98.60M $112.5M
Total Long-Term Liabilities $1.091B $1.080B $839.8M
Total Liabilities $1.181B $1.179B $952.3M
YoY Change 6.17% 23.78% -8.93%
SHAREHOLDERS EQUITY
Retained Earnings -$179.0M -$132.3M $11.10M
YoY Change 7741.13% -1291.12% -48.71%
Common Stock $1.057M $1.057M $1.052M
YoY Change 0.48% 0.48% 0.48%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $988.7M $1.031B $1.181B
YoY Change
Total Liabilities & Shareholders Equity $2.233B $2.275B $2.149B
YoY Change -5.21% 5.85% -5.02%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$43.05M -$34.55M $11.53M
YoY Change -565.85% -399.51% -69.57%
Depreciation, Depletion And Amortization $27.50M $27.50M $23.20M
YoY Change 2.23% 18.53% -6.83%
Cash From Operating Activities -$20.70M -$600.0K $44.30M
YoY Change -171.63% -101.35% -0.67%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$28.10M
YoY Change -100.0% -100.0% -60.42%
Acquisitions
YoY Change
Other Investing Activities -$3.300M -$6.400M -$21.50M
YoY Change -129.2% -70.23% -151.68%
Cash From Investing Activities -$3.300M -$6.400M -$49.60M
YoY Change -98.62% -87.1% 68.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.300M -79.70M 5.300M
YoY Change -96.91% -1603.77% -220.45%
NET CHANGE
Cash From Operating Activities -20.70M -600.0K 44.30M
Cash From Investing Activities -3.300M -6.400M -49.60M
Cash From Financing Activities 6.300M -79.70M 5.300M
Net Change In Cash -17.70M -86.70M 0.000000003725
YoY Change 195.0% -2327335403520000000.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$20.70M -$600.0K $44.30M
Capital Expenditures $0.00 $0.00 -$28.10M
Free Cash Flow -$20.70M -$600.0K $72.40M
YoY Change -107.41% -100.83% -37.37%

Facts In Submission

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DESCRIPTION OF BUSINESS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">General</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Summit Hotel Properties, Inc. (the “Company”) is a self-managed hotel investment company that was organized on June 30, 2010 as a Maryland corporation. The Company holds both general and limited partnership interests in Summit Hotel OP, LP (the “Operating Partnership”), a Delaware limited partnership also organized on June 30, 2010. Unless the context otherwise requires, “we,” “us,” and “our” refer to the Company and its consolidated subsidiaries.</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We focus on owning premium-branded hotels with efficient operating models primarily in the Upscale segment of the lodging industry. At September 30, 2020, our portfolio consisted of 72 hotels with a total of 11,288 guestrooms located in 23 states. As of September 30, 2020, we own 100% of the outstanding equity interests in 67 of our 72 hotels. We own a 51% controlling interest in five hotels that we acquired in 2019 through a joint venture. We have elected to be taxed as a real estate investment trust (“REIT”) for federal income tax purposes. To qualify as a REIT, we cannot operate or manage our hotels. Accordingly, all of our hotels are leased to our taxable REIT subsidiaries (“TRS Lessees”). </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Risks and Uncertainties</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The Company is subject to risks and uncertainties as a result of the effects of the novel coronavirus, designated as COVID-19 (“COVID-19”). The COVID-19 pandemic has had and will continue to have a material adverse effect on our operations. The Company first began to experience effects from COVID-19 in March 2020, when the World Health Organization (“WHO”) declared a public health emergency of international concern related to COVID-19. By March 31, 2020, stay-at-home directives had been issued in many states across the United States and many local jurisdictions had additionally required the temporary closure of businesses deemed to be non-essential. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">These actions and restrictions have had a significant negative effect on the U.S. and global economies, including a rapid and sharp decline in all forms of travel, both domestic and international, and a significant decline in hotel demand. These conditions have resulted in a substantial decline in our revenues, profitability and cash flows from operations during the first nine months of 2020 and are expected to continue to materially adversely affect our operations and financial results until consumer confidence is restored and a recovery in hospitality and travel-related demand occurs. The COVID-19 pandemic has also led to a disruption and volatility of the capital markets for the hospitality and travel-related industries, which could increase our cost of and limit accessibility to capital. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">During the third quarter of 2020, many jurisdictions eased restrictions on travel and business operations as conditions have permitted. As a result, our business experienced gradual improvement, mostly as the result of an increase in leisure travel and small group business. There can be no assurance that these restrictions will continue to be eased or that we will continue to experience sustained improvement in our operations.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:107%">The COVID-19 pandemic caused the Company to temporarily suspend operations at six hotels containing 934 guestrooms in March 2020. An additional nine hotels, containing 1,278 guestrooms, each of which is adjacent to another of our hotels ("Sister Properties"), continued to accept reservations, but guests were directed to Sister Properties. In May of 2020, five hotels containing 682 guestrooms and four hotel properties adjacent to Sister Properties containing 506 guestrooms were re-opened. During the third quarter of 2020, two hotel properties adjacent to Sister Properties containing 309 guestrooms were re-opened. As of September 30, 2020, only one hotel with 252 guestrooms still has suspended operations and guests at three other hotels containing 463 guestrooms are being directed to Sister Properties. </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The duration and severity of the effects of the COVID-19 pandemic are highly uncertain and difficult to predict. As such, the Company has taken several actions to mitigate the effects of the COVID-19 pandemic on the Company, including the following:</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Borrowed a net amount of $50.0 million on our $400 million unsecured revolving credit facility (“$400 Million Revolver”) during the nine months ended September 30, 2020 to meet our near-term funding needs and ensured the availability of sufficient capacity under the $400 Million Revolver to provide adequate liquidity should we experience a protracted disruption in lodging demand.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Amended loan agreements of our 2018 Unsecured Credit Facility, 2017 Term Loan and 2018 Term Loan to provide for financial covenant waivers through March 31, 2021, to modify or waive compliance with certain financial covenant measures for the final three quarters of 2021 and to access additional borrowing capacity of $150.0 million under our $400 Million Revolver. At October 23, 2020, we had $35.3 million of consolidated unrestricted cash on hand and an additional $225.0 million of undrawn availability on our $400 Million Revolver, as amended by the First Amendment (as defined below). We have no debt maturing before November 2022.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Amended our joint venture credit agreement to provide for a financial covenant waiver through March 31, 2021, to modify certain financial covenant measures through June 30, 2022, and to access additional availability to fund operating expense deficits and various capital expenditures.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Suspended the declaration and payment of dividends on our common stock and operating partnership units. This will conserve an additional $19.0 million of cash quarterly, or $75.0 million on an annualized basis.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Postponed all non-essential capital improvement projects planned for 2020 beyond those already substantially complete, which is expected to reduce previously planned total capital expenditures by at least $35.0 million, or over 50% based on the midpoint of our previously provided guidance range of total capital expenditures for 2020.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Adopted comprehensive cost reduction initiatives, including the reduction of labor and temporary elimination of certain services and amenities, at all hotels. Certain labor costs and services or amenities have been added back on a limited basis as improvements in occupancy levels have supported. As described above, we temporarily suspended operations at certain hotels in response to specific government mandates or as the result of adverse market conditions.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Negotiated the temporary suspension of FF&amp;E reserve funding requirements for certain of our hotels and facilitated the interim or permanent use of cash deposited in our restricted cash reserve for replacement of furniture, fixtures and equipment ("FF&amp;E Reserve Accounts") of certain of our hotels for general working capital purposes.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Implemented a voluntary 25% temporary reduction of base salaries and fees, respectively, for executive officers and independent members of the Board of Directors from April 2020 to June 2020.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Furloughed approximately 25% of the corporate-level staff in April 2020. Certain of the furloughed staff have been reinstated during the second and third quarters of 2020 to meet specific needs of the Company as supported by our operating performance, but the majority of the furloughed positions were permanently eliminated during the third quarter.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Implemented temporary salary reductions for the majority of our remaining non-executive employees from April 2020 to June 2020.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Implemented a temporary hiring freeze for any new corporate-level positions.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">It is currently extremely difficult to predict the length of time it will take for us to return to pre-pandemic operational and financial performance. Despite the uncertainty, based on the actions we have taken, we believe we have sufficient cash and access to liquidity to meet our obligations for at least the next twelve months.</span></div>
CY2020Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 State
CY2020Q3 inn Numberof Real Estate Properties With Full Ownership
NumberofRealEstatePropertiesWithFullOwnership
67 Property
CY2020Q1 inn Number Of Hotels Temporarily Suspended
NumberOfHotelsTemporarilySuspended
6 hotel
CY2020Q1 inn Number Of Guestrooms Temporarily Suspended
NumberOfGuestroomsTemporarilySuspended
934 Room
CY2020Q1 inn Number Of Hotels With Guests Directed To Sister Properties
NumberOfHotelsWithGuestsDirectedToSisterProperties
9 hotel
CY2020Q1 inn Number Of Guestrooms With Guests Directing To Sister Properties
NumberOfGuestroomsWithGuestsDirectingToSisterProperties
1278 Room
CY2020Q2 inn Number Of Hotels Re Opened
NumberOfHotelsReOpened
5 hotel
CY2020Q2 inn Number Of Guestrooms Re Opened
NumberOfGuestroomsReOpened
682 Room
CY2020Q2 inn Number Of Hotels Adjacent To Sister Properties Re Opened
NumberOfHotelsAdjacentToSisterPropertiesReOpened
4 hotel
CY2020Q2 inn Number Of Guestrooms Adjacent To Sister Properties Re Opened
NumberOfGuestroomsAdjacentToSisterPropertiesReOpened
506 Room
CY2020Q3 inn Number Of Hotels Adjacent To Sister Properties Re Opened
NumberOfHotelsAdjacentToSisterPropertiesReOpened
2 hotel
CY2020Q3 inn Number Of Guestrooms Adjacent To Sister Properties Re Opened
NumberOfGuestroomsAdjacentToSisterPropertiesReOpened
309 Room
CY2020Q3 inn Number Of Hotels Temporarily Suspended
NumberOfHotelsTemporarilySuspended
1 hotel
CY2020Q3 inn Number Of Guestrooms Temporarily Suspended
NumberOfGuestroomsTemporarilySuspended
252 Room
CY2020Q3 inn Number Of Hotels With Guests Directed To Sister Properties
NumberOfHotelsWithGuestsDirectedToSisterProperties
3 hotel
CY2020Q3 inn Number Of Guestrooms With Guests Directing To Sister Properties
NumberOfGuestroomsWithGuestsDirectingToSisterProperties
463 Room
CY2020Q2 inn Conserved Cash On Suspension Of Dividend Quarterly
ConservedCashOnSuspensionOfDividendQuarterly
19000000.0 USD
CY2020Q2 inn Conserved Cash On Suspension Of Dividend Annually
ConservedCashOnSuspensionOfDividendAnnually
75000000.0 USD
CY2020Q2 inn Estimated Decrease Of Capital Expenditures
EstimatedDecreaseOfCapitalExpenditures
35000000.0 USD
CY2020Q2 inn Minimum Decrease Of Capital Expenditures Percentage
MinimumDecreaseOfCapitalExpendituresPercentage
0.50
CY2020Q2 inn Percentage Of Temporary Reduction Of Base Salaries And Fees
PercentageOfTemporaryReductionOfBaseSalariesAndFees
0.25
CY2020Q2 inn Percentage Of Corporate Level Staff Furloughed
PercentageOfCorporateLevelStaffFurloughed
0.25
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
300000 USD
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
200000 USD
CY2020Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000 USD
CY2019Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
200000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
600000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
400000 USD
CY2020Q3 inn Real Estate Investment Property At Cost Excluding Undeveloped Land
RealEstateInvestmentPropertyAtCostExcludingUndevelopedLand
2588704000 USD
CY2019Q4 inn Real Estate Investment Property Net Excluding Undeveloped Land
RealEstateInvestmentPropertyNetExcludingUndevelopedLand
2184232000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Condensed Consolidated Financial Statements are prepared in conformity with GAAP, which requires us to make estimates based on assumptions about current and, for some estimates, future economic and market conditions that affect reported amounts and related disclosures in our Condensed Consolidated Financial Statements. Although our current estimates contemplate current and expected future conditions, as applicable, it is reasonably possible that actual conditions could materially differ from our expectations, which could materially affect our expectations for our consolidated financial position and results of operations. In particular, a number of estimates have been and will continue to be affected by the ongoing COVID-19 pandemic. </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The evaluation of the carrying amounts of our assets described above requires that we make projections of the future estimated cash flows and residual values of the assets or underlying collateral based on assumptions derived from available information about future market conditions that will affect these projections. While the potential magnitude and duration of the business and economic effects of the COVID-19 pandemic are uncertain, our analysis of future estimated cash flows, values of assets or underlying collateral assumes that the nascent and gradual recovery in our business that began in the second half of April 2020 will be sustained into the fourth quarter of 2020 and operating performance will improve gradually over a multi-year period before reaching prior peak performance levels. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The severity, magnitude and duration of the COVID-19 pandemic, as well as its economic consequences, are uncertain, rapidly changing and difficult to predict. As such, there can be no assurance that our forecasts and underlying assumptions will be realized. As a result, our accounting estimates and assumptions may change over time, and actual results may differ materially from our expectations. We will continue to monitor the effects of the COVID-19 pandemic in future quarters. If actual results differ from our forecasts, this may result in future impairments of hotel properties, intangible assets, right-of-use assets, or investment securities such as our purchase options, or in incremental credit losses on our notes receivables.</span></div>
CY2019Q4 inn Real Estate Investment Property At Cost Excluding Undeveloped Land
RealEstateInvestmentPropertyAtCostExcludingUndevelopedLand
2568219000 USD
CY2020Q3 inn Real Estate Investment Property Accumulated Depreciation And Amortization Excluding Undeveloped Land
RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortizationExcludingUndevelopedLand
463258000 USD
CY2019Q4 inn Real Estate Investment Property Accumulated Depreciation And Amortization Excluding Undeveloped Land
RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortizationExcludingUndevelopedLand
383987000 USD
CY2020Q3 inn Real Estate Investment Property Net Excluding Undeveloped Land
RealEstateInvestmentPropertyNetExcludingUndevelopedLand
2125446000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
6845000 USD
CY2019Q3 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings And Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsAndImprovements
20652000 USD
CY2019Q3 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Furniture Fixtures And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFurnitureFixturesAndEquipment
465000 USD
CY2019Q3 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Assets Current And Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherAssetsCurrentAndNoncurrent
207000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
28169000 USD
CY2019Q3 inn Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Liabilities Current And Noncurrent
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherLiabilitiesCurrentAndNoncurrent
70000 USD
CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
28099000 USD
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
72 hotel
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
72 hotel
CY2020Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
52413000 USD
CY2019Q3 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
144564000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
186233000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
438560000 USD
CY2020Q3 inn Business Acquisition Pro Forma Incomefrom Hotel Operations
BusinessAcquisitionProFormaIncomefromHotelOperations
5663000 USD
CY2019Q3 inn Business Acquisition Pro Forma Incomefrom Hotel Operations
BusinessAcquisitionProFormaIncomefromHotelOperations
54290000 USD
inn Business Acquisition Pro Forma Incomefrom Hotel Operations
BusinessAcquisitionProFormaIncomefromHotelOperations
25379000 USD
inn Business Acquisition Pro Forma Incomefrom Hotel Operations
BusinessAcquisitionProFormaIncomefromHotelOperations
169003000 USD
CY2020Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-35936000 USD
CY2019Q3 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
18340000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-104692000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
54734000 USD
CY2020Q3 inn Business Acquisition Pro Forma Net Income Loss Net Of Amount Allocated To Participating Securities
BusinessAcquisitionProFormaNetIncomeLossNetOfAmountAllocatedToParticipatingSecurities
-38424000 USD
CY2019Q3 inn Business Acquisition Pro Forma Net Income Loss Net Of Amount Allocated To Participating Securities
BusinessAcquisitionProFormaNetIncomeLossNetOfAmountAllocatedToParticipatingSecurities
11205000 USD
inn Business Acquisition Pro Forma Net Income Loss Net Of Amount Allocated To Participating Securities
BusinessAcquisitionProFormaNetIncomeLossNetOfAmountAllocatedToParticipatingSecurities
-111654000 USD
inn Business Acquisition Pro Forma Net Income Loss Net Of Amount Allocated To Participating Securities
BusinessAcquisitionProFormaNetIncomeLossNetOfAmountAllocatedToParticipatingSecurities
33862000 USD
CY2020Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-0.37
CY2020Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-0.37
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.11
CY2019Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.11
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
-1.07
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
-1.07
us-gaap Business Acquisition Pro Forma Earnings Per Share Diluted
BusinessAcquisitionProFormaEarningsPerShareDiluted
0.33
us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
BusinessAcquisitionProFormaEarningsPerShareBasic
0.33
CY2020Q3 inn Business Combination Pro Forma Information Net Income Loss Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
50900000 USD
CY2019Q3 inn Business Combination Pro Forma Information Net Income Loss Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
46100000 USD
inn Business Combination Pro Forma Information Net Income Loss Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
159300000 USD
inn Business Combination Pro Forma Information Net Income Loss Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
143600000 USD
CY2020Q3 inn Business Combination Pro Forma Information Net Income Loss Adjusted Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossAdjustedRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
48700000 USD
CY2019Q3 inn Business Combination Pro Forma Information Net Income Loss Adjusted Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossAdjustedRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
45800000 USD
inn Business Combination Pro Forma Information Net Income Loss Adjusted Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossAdjustedRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
152400000 USD
inn Business Combination Pro Forma Information Net Income Loss Adjusted Real Estate Tax Expense Depreciation Expense Interest Expense And Other Corporate Expenses
BusinessCombinationProFormaInformationNetIncomeLossAdjustedRealEstateTaxExpenseDepreciationExpenseInterestExpenseAndOtherCorporateExpenses
142900000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
800000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2600000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2600000 USD
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0344
CY2019 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0395
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1091437000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1022726000 USD
CY2020Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
7345000 USD
CY2019Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6563000 USD
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
1084092000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
1016163000 USD
CY2020Q3 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
546646000 USD
CY2020Q3 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.50
CY2019Q4 us-gaap Longterm Debt Percentage Bearing Fixed Interest Amount
LongtermDebtPercentageBearingFixedInterestAmount
549236000 USD
CY2019Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.54
CY2020Q3 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
544791000 USD
CY2020Q3 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.50
CY2019Q4 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
473490000 USD
CY2019Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.46
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1091437000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1022726000 USD
CY2020Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
400000 USD
CY2019Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
600000 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
1300000 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
1500000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.049
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
700000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
700000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2300000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2500000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2100000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2300000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P28Y3M18D
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
537000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2066000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1842000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
970000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
910000 USD
CY2020Q3 inn Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
28906000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
35231000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16479000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
18752000 USD
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
105169515 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
104783179 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
676171 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
537734 shares
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
34500 shares
us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
46076 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
212643 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
167757 shares
CY2019Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
105165347 shares
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
65345 shares
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
74340 shares
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
105696008 shares
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
us-gaap Asset Impairment Charges
AssetImpairmentCharges
800000 USD
CY2020Q2 inn Restricted Cash Released
RestrictedCashReleased
1600000 USD
CY2020Q2 inn Restricted Cash Numberof Hotels Cash Released For
RestrictedCashNumberofHotelsCashReleasedFor
7 hotel
CY2020Q2 inn Restricted Cash Released To Be Repaidin10 Equal Installments
RestrictedCashReleasedToBeRepaidin10EqualInstallments
8900000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
17500000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
27600000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8900000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
8900000 USD
CY2020Q3 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Remainder Of Fiscal Year
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountRemainderOfFiscalYear
1518000 USD
CY2020Q3 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year One
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearOne
4509000 USD
CY2020Q3 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Two
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearTwo
2429000 USD
CY2020Q3 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Three
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearThree
428000 USD
CY2020Q3 inn Share Based Payment Arrangement Nonvested Award Cost Not Yet Recognized Amount Year Four
ShareBasedPaymentArrangementNonvestedAwardCostNotYetRecognizedAmountYearFour
16000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1600000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000.0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1600000 USD
CY2020Q1 inn Discrete Income Tax Expense
DiscreteIncomeTaxExpense
2100000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
inn Estimated Employee Retention Tax Credit Cares Act
EstimatedEmployeeRetentionTaxCreditCARESAct
300000 USD
inn Op Operating Loss Carryforwards Expected Tax Benefit Cares Act
OpOperatingLossCarryforwardsExpectedTaxBenefitCARESAct
1000000.0 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-35775000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
11626000 USD
us-gaap Profit Loss
ProfitLoss
-104537000 USD
us-gaap Profit Loss
ProfitLoss
73595000 USD
CY2020Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3710000 USD
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
3710000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11128000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
11128000 USD
CY2020Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
81000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
81000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
254000 USD
CY2020Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-70000 USD
CY2019Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
15000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-203000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
150000 USD
CY2020Q3 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-1159000 USD
CY2019Q3 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
77000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-4049000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
77000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-38256000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7743000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-111494000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61986000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104200000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103935000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104117000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103861000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
35000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
55000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104200000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103970000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
104117000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103916000 shares
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.37
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.07
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.07
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.60

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