2015 Q1 Form 10-Q Financial Statement

#000140810015000088 Filed on May 11, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $137.7M $51.40M
YoY Change 167.9% 124.45%
Cost Of Revenue $1.500M $9.700M
YoY Change -84.54% 410.53%
Gross Profit $136.2M $41.80M
YoY Change 225.84% 100.0%
Gross Profit Margin 98.91% 81.32%
Selling, General & Admin $10.90M $9.200M
YoY Change 18.48% 19.48%
% of Gross Profit 8.0% 22.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.60M $7.300M
YoY Change 401.37% 284.21%
% of Gross Profit 26.87% 17.46%
Operating Expenses $84.80M $53.50M
YoY Change 58.5% 118.37%
Operating Profit $27.50M -$6.600M
YoY Change -516.67% 144.44%
Interest Expense -$21.20M -$13.00M
YoY Change 63.08% -213.72%
% of Operating Profit -77.09%
Other Income/Expense, Net -$39.90M $65.20M
YoY Change -161.2% -3935.29%
Pretax Income -$12.40M $58.60M
YoY Change -121.16% -1431.82%
Income Tax -$8.100M $8.800M
% Of Pretax Income 15.02%
Net Earnings -$1.500M $12.50M
YoY Change -112.0% -881.25%
Net Earnings / Revenue -1.09% 24.32%
Basic Earnings Per Share -$0.05 $0.12
Diluted Earnings Per Share -$0.05 $0.12
COMMON SHARES
Basic Shares Outstanding 91.55M shares 88.14M shares
Diluted Shares Outstanding 91.55M shares 89.42M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $670.3M $1.582B
YoY Change -57.62% 697.18%
Cash & Equivalents $669.9M $1.573B
Short-Term Investments $400.0K $8.500M
Other Short-Term Assets $9.800M $9.000M
YoY Change 8.89%
Inventory
Prepaid Expenses
Receivables $57.60M $28.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $262.4M $311.6M
YoY Change -15.79% -50.37%
LONG-TERM ASSETS
Property, Plant & Equipment $4.797B $1.889B
YoY Change 154.02%
Goodwill $23.90M $23.90M
YoY Change 0.0% -0.27%
Intangibles
YoY Change
Long-Term Investments $962.1M $584.5M
YoY Change 64.6% 1.61%
Other Assets
YoY Change
Total Long-Term Assets $6.418B $4.096B
YoY Change 56.71% 440.1%
TOTAL ASSETS
Total Short-Term Assets $262.4M $311.6M
Total Long-Term Assets $6.418B $4.096B
Total Assets $6.681B $4.407B
YoY Change 51.58% 217.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $242.3M $154.7M
YoY Change 56.63% 13963.64%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $242.3M $154.7M
YoY Change 56.63% 395.83%
LONG-TERM LIABILITIES
Long-Term Debt $3.375B $1.628B
YoY Change 107.28% 132.42%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.375B $1.628B
YoY Change 107.28% 132.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $242.3M $154.7M
Total Long-Term Liabilities $3.375B $1.628B
Total Liabilities $3.617B $1.783B
YoY Change 102.88% 139.08%
SHAREHOLDERS EQUITY
Retained Earnings -$78.00M -$39.90M
YoY Change 95.49% 172.62%
Common Stock $0.00 $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.056B $952.6M
YoY Change
Total Liabilities & Shareholders Equity $6.681B $4.407B
YoY Change 51.58% 217.96%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$1.500M $12.50M
YoY Change -112.0% -881.25%
Depreciation, Depletion And Amortization $36.60M $7.300M
YoY Change 401.37% 284.21%
Cash From Operating Activities -$16.60M -$36.90M
YoY Change -55.01% 33.7%
INVESTING ACTIVITIES
Capital Expenditures -$757.1M -$367.7M
YoY Change 105.9% 2257.05%
Acquisitions
YoY Change
Other Investing Activities -$35.10M -$209.0M
YoY Change -83.21% 15976.92%
Cash From Investing Activities -$792.2M -$576.7M
YoY Change 37.37% 3292.35%
FINANCING ACTIVITIES
Cash Dividend Paid $10.70M $7.800M
YoY Change 37.18% 9.86%
Common Stock Issuance & Retirement, Net -$184.0M -$188.3M
YoY Change -2.28% 40.73%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $569.8M $2.009B
YoY Change -71.64% 1492.08%
NET CHANGE
Cash From Operating Activities -$16.60M -$36.90M
Cash From Investing Activities -$792.2M -$576.7M
Cash From Financing Activities $569.8M $2.009B
Net Change In Cash -$239.0M $1.396B
YoY Change -117.13% 1610.29%
FREE CASH FLOW
Cash From Operating Activities -$16.60M -$36.90M
Capital Expenditures -$757.1M -$367.7M
Free Cash Flow $740.5M $330.8M
YoY Change 123.85% -2856.67%

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8200000 USD
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0.12
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0.03
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1600000 USD
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6200000 USD
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8200000 USD
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23900000 USD
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58700000 USD
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600000 USD
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5400000 USD
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10500000 USD
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5300000 USD
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19400000 USD
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492200000 USD
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486800000 USD
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20500000 USD
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26200000 USD
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CY2015Q1 us-gaap Liabilities
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3617400000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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6332100000 USD
CY2015Q1 us-gaap Liabilities And Stockholders Equity
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6680600000 USD
CY2014Q4 us-gaap Line Of Credit
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125000000 USD
CY2015Q1 us-gaap Line Of Credit
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0 USD
CY2014Q4 us-gaap Long Term Debt
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3023300000 USD
CY2015Q1 us-gaap Long Term Debt
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3375100000 USD
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3044800000 USD
CY2015Q1 us-gaap Long Term Debt Fair Value
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3386700000 USD
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6500000 USD
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400000 USD
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CY2015Q1 us-gaap Minority Interest
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2007200000 USD
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47900000 USD
CY2015Q1 us-gaap Minority Interest Decrease From Redemptions
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22500000 USD
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CY2015Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
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-36900000 USD
CY2015Q1 us-gaap Net Cash Provided By Used In Operating Activities
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-16600000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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37400000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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-2800000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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10500000 USD
CY2015Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2015Q1 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
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4100000 USD
CY2014Q4 us-gaap Notes Receivable Net
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313400000 USD
CY2015Q1 us-gaap Notes Receivable Net
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336000000 USD
CY2015Q1 us-gaap Number Of Operating Segments
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2 segment
CY2014Q1 us-gaap Operating Expenses
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53500000 USD
CY2015Q1 us-gaap Operating Expenses
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84800000 USD
CY2014Q1 us-gaap Operating Income Loss
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CY2015Q1 us-gaap Operating Income Loss
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27500000 USD
CY2014Q1 us-gaap Operating Leases Income Statement Lease Revenue
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16000000 USD
CY2015Q1 us-gaap Operating Leases Income Statement Lease Revenue
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90400000 USD
CY2014Q4 us-gaap Other Assets
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305100000 USD
CY2015Q1 us-gaap Other Assets
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353900000 USD
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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-1200000 USD
CY2015Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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-104900000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
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CY2015Q1 us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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18400000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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200000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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-2600000 USD
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-105200000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Reclassification Adjustment From Aoci Realized Upon Sale Or Liquidation Net Of Tax
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-1200000 USD
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300000 USD
CY2014Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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-1500000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
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-86800000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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-66500000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Tax
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-58000000 USD
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-1500000 USD
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18400000 USD
CY2014Q1 us-gaap Other Depreciation And Amortization
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7300000 USD
CY2015Q1 us-gaap Other Depreciation And Amortization
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36600000 USD
CY2014Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
800000 USD
CY2015Q1 us-gaap Other Nonoperating Income
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800000 USD
CY2014Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
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0 USD
CY2015Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
7500000 USD
CY2014Q1 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0 USD
CY2015Q1 us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
3600000 USD
CY2014Q1 us-gaap Payments For Repurchase Of Common Stock
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2500000 USD
CY2015Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3100000 USD
CY2014Q1 us-gaap Payments Of Debt Issuance Costs
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9600000 USD
CY2015Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
9200000 USD
CY2014Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
7800000 USD
CY2015Q1 us-gaap Payments Of Dividends
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10700000 USD
CY2014Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
5800000 USD
CY2015Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
8700000 USD
CY2014Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
2800000 USD
CY2015Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
47900000 USD
CY2014Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2000000 USD
CY2015Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2000000 USD
CY2014Q1 us-gaap Payments To Acquire Equity Method Investments
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67100000 USD
CY2015Q1 us-gaap Payments To Acquire Equity Method Investments
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15200000 USD
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4500000 USD
CY2015Q1 us-gaap Payments To Acquire Marketable Securities
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0 USD
CY2014Q1 us-gaap Payments To Acquire Mortgage Notes Receivable
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158600000 USD
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87500000 USD
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367700000 USD
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757100000 USD
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0 USD
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22500000 USD
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2000000 USD
CY2015Q1 us-gaap Preferred Stock Dividends And Other Adjustments
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2000000 USD
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11200000 USD
CY2015Q1 us-gaap Prepaid Expense Current And Noncurrent
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9800000 USD
CY2014Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
200000 USD
CY2015Q1 us-gaap Proceeds From Collection Of Notes Receivable
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0 USD
CY2014Q1 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
0 USD
CY2015Q1 us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
30100000 USD
CY2014Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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11000000 USD
CY2015Q1 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
8000000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
187200000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
190800000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
187100000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
195800000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
843600000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
297200000 USD
CY2015Q1 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
CY2014Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
90000000 USD
CY2015Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000 USD
CY2014Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
2900000 USD
CY2015Q1 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
4100000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
CY2015Q1 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
6200000 USD
CY2014Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
10000000 USD
CY2015Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
34400000 USD
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49900000 USD
CY2015Q1 us-gaap Profit Loss
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CY2014Q1 us-gaap Property Management Fee Revenue
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13200000 USD
CY2015Q1 us-gaap Property Management Fee Revenue
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16400000 USD
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121600000 USD
CY2015Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
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150800000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
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4349700000 USD
CY2015Q1 us-gaap Real Estate Investment Property At Cost
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4927200000 USD
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4228100000 USD
CY2015Q1 us-gaap Real Estate Investment Property Net
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4776400000 USD
CY2014Q1 us-gaap Real Estate Revenue Net
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51500000 USD
CY2015Q1 us-gaap Real Estate Revenue Net
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137700000 USD
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400000 USD
CY2014Q1 us-gaap Repayments Of Lines Of Credit
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90000000 USD
CY2015Q1 us-gaap Repayments Of Lines Of Credit
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150000000 USD
CY2014Q1 us-gaap Repayments Of Secured Debt
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5500000 USD
CY2015Q1 us-gaap Repayments Of Secured Debt
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246600000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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-62000000 USD
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
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-78000000 USD
CY2014Q1 us-gaap Revenue From Owned Hotels
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9300000 USD
CY2015Q1 us-gaap Revenue From Owned Hotels
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23400000 USD
CY2014Q1 us-gaap Revenue From Related Parties
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7300000 USD
CY2015Q1 us-gaap Revenue From Related Parties
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9500000 USD
CY2014Q1 us-gaap Sales Of Real Estate
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11300000 USD
CY2015Q1 us-gaap Sales Of Real Estate
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2100000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
2195900000 USD
CY2015Q1 us-gaap Secured Debt
SecuredDebt
2672700000 USD
CY2014Q1 us-gaap Selling And Marketing Expense
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1000000 USD
CY2015Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1400000 USD
CY2014Q4 us-gaap Senior Notes
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702400000 USD
CY2015Q1 us-gaap Senior Notes
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702400000 USD
CY2014Q1 us-gaap Share Based Compensation
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1700000 USD
CY2015Q1 us-gaap Share Based Compensation
ShareBasedCompensation
7300000 USD
CY2015Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7500000 shares
CY2015Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
187100000 USD
CY2015Q1 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
3200000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
901100000 USD
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
1056000000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3043900000 USD
CY2015Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3063200000 USD
CY2014Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
200000 USD
CY2015Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
600000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2015Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-400000 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89422885 shares
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91547838 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88142576 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91547838 shares
CY2015Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">RECLASSIFICATIONS&#8212;Certain balances included in prior year's financial statements have been reclassified to conform to the current year's presentation.</font></div></div>

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