2015 Q2 Form 10-Q Financial Statement

#000140810015000130 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $140.5M $91.90M
YoY Change 52.88% 151.78%
Cost Of Revenue $0.00 $3.800M
YoY Change -100.0% -25.49%
Gross Profit $140.5M $88.00M
YoY Change 59.66% 180.25%
Gross Profit Margin 100.0% 95.76%
Selling, General & Admin $13.60M $9.300M
YoY Change 46.24% 20.78%
% of Gross Profit 9.68% 10.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $38.00M $25.30M
YoY Change 50.2% 475.0%
% of Gross Profit 27.05% 28.75%
Operating Expenses $103.9M $63.30M
YoY Change 64.14% 77.31%
Operating Profit $15.60M $34.40M
YoY Change -54.65% 207.14%
Interest Expense -$21.00M $5.200M
YoY Change -503.85% -58.5%
% of Operating Profit -134.62% 15.12%
Other Income/Expense, Net $50.40M $54.70M
YoY Change -7.86% -520.77%
Pretax Income $66.00M $89.10M
YoY Change -25.93% -5050.0%
Income Tax $36.10M $25.40M
% Of Pretax Income 54.7% 28.51%
Net Earnings $31.80M $38.40M
YoY Change -17.19% -9700.0%
Net Earnings / Revenue 22.63% 41.78%
Basic Earnings Per Share $0.29 $0.39
Diluted Earnings Per Share $0.27 $0.38
COMMON SHARES
Basic Shares Outstanding 103.7M shares 89.14M shares
Diluted Shares Outstanding 111.4M shares 102.1M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $992.9M $610.7M
YoY Change 62.58% 337.15%
Cash & Equivalents $992.6M $599.7M
Short-Term Investments $300.0K $11.00M
Other Short-Term Assets $15.20M $10.60M
YoY Change 43.4%
Inventory
Prepaid Expenses
Receivables $64.30M $36.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $268.1M $396.9M
YoY Change -32.45% -39.65%
LONG-TERM ASSETS
Property, Plant & Equipment $5.007B $3.563B
YoY Change 40.53%
Goodwill $23.90M $23.90M
YoY Change 0.0% -0.27%
Intangibles
YoY Change
Long-Term Investments $1.356B $473.3M
YoY Change 186.44% -31.87%
Other Assets
YoY Change
Total Long-Term Assets $7.079B $4.958B
YoY Change 42.78% 479.49%
TOTAL ASSETS
Total Short-Term Assets $268.1M $396.9M
Total Long-Term Assets $7.079B $4.958B
Total Assets $7.347B $5.355B
YoY Change 37.21% 253.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.90M $285.7M
YoY Change -94.78% 13504.76%
Accrued Expenses $305.1M
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 $320.0M $285.7M
YoY Change 12.01% 458.01%
LONG-TERM LIABILITIES
Long-Term Debt $3.980B $2.275B
YoY Change 74.99% 184.98%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.980B $2.275B
YoY Change 74.99% 184.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $320.0M $285.7M
Total Long-Term Liabilities $3.980B $2.275B
Total Liabilities $4.300B $2.560B
YoY Change 67.96% 197.01%
SHAREHOLDERS EQUITY
Retained Earnings -$60.20M -$11.80M
YoY Change 410.17% -47.04%
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 $1.115B $976.1M
YoY Change
Total Liabilities & Shareholders Equity $7.347B $5.355B
YoY Change 37.21% 253.85%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $31.80M $38.40M
YoY Change -17.19% -9700.0%
Depreciation, Depletion And Amortization $38.00M $25.30M
YoY Change 50.2% 475.0%
Cash From Operating Activities $53.90M $102.0M
YoY Change -47.16% 2656.76%
INVESTING ACTIVITIES
Capital Expenditures -$229.6M -$922.1M
YoY Change -75.1% 894.71%
Acquisitions
YoY Change
Other Investing Activities $248.9M -$187.9M
YoY Change -232.46% 119.51%
Cash From Investing Activities $19.30M -$1.110B
YoY Change -101.74% 522.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 240.5M 14.70M
YoY Change 1536.05% -87.15%
NET CHANGE
Cash From Operating Activities 53.90M 102.0M
Cash From Investing Activities 19.30M -1.110B
Cash From Financing Activities 240.5M 14.70M
Net Change In Cash 313.7M -993.3M
YoY Change -131.58% 1550.0%
FREE CASH FLOW
Cash From Operating Activities $53.90M $102.0M
Capital Expenditures -$229.6M -$922.1M
Free Cash Flow $283.5M $1.024B
YoY Change -72.32% 962.34%

Facts In Submission

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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Costs And Expenses
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us-gaap Costs And Expenses
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7400000 USD
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us-gaap Direct Costs Of Hotels
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21800000 USD
us-gaap Direct Costs Of Hotels
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11200000 USD
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16900000 USD
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us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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49100000 USD
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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33100000 USD
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3900000 USD
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40800000 USD
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0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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0 USD
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34500000 USD
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40100000 USD
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11800000 USD
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89100000 USD
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147800000 USD
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66000000 USD
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53600000 USD
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51700000 USD
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4400000 USD
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us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
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us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
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16400000 USD
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27200000 USD
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46600000 USD
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551400000 USD
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183100000 USD
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62700000 USD
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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36300000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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46800000 USD
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31200000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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27700000 USD
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453100000 USD
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38700000 USD
us-gaap Number Of Operating Segments
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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68700000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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100000 USD
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200000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
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400000 USD
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2300000 USD
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8300000 USD
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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7100000 USD
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15000000 USD
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32600000 USD
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2800000 USD
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3600000 USD
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3400000 USD
us-gaap Payments For Derivative Instrument Investing Activities
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5200000 USD
us-gaap Payments For Repurchase Of Common Stock
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2600000 USD
us-gaap Payments For Repurchase Of Common Stock
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13100000 USD
us-gaap Payments Of Dividends
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18100000 USD
us-gaap Payments Of Dividends Common Stock
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21000000 USD
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us-gaap Payments Of Dividends Minority Interest
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183100000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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4100000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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2600000 USD
us-gaap Payments To Acquire Equity Method Investments
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us-gaap Payments To Acquire Equity Method Investments
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us-gaap Payments To Acquire Marketable Securities
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6900000 USD
us-gaap Payments To Acquire Marketable Securities
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0 USD
us-gaap Payments To Acquire Mortgage Notes Receivable
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373300000 USD
us-gaap Payments To Acquire Mortgage Notes Receivable
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233500000 USD
us-gaap Payments To Acquire Real Estate
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1289800000 USD
us-gaap Payments To Acquire Real Estate
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986700000 USD
us-gaap Payments To Minority Shareholders
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16800000 USD
us-gaap Payments To Minority Shareholders
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24400000 USD
CY2014Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2100000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4100000 USD
CY2015Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
600000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2600000 USD
CY2014Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11200000 USD
CY2015Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
15200000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
18700000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
4600000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
0 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
35800000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
55600000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
33900000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
190700000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
215000000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
295200000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
1574400000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
297200000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
90000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
75000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
8600000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
6400000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
-42600000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
6200000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
15000000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
504000000 USD
CY2014Q2 us-gaap Profit Loss
ProfitLoss
63700000 USD
us-gaap Profit Loss
ProfitLoss
113600000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
29900000 USD
us-gaap Profit Loss
ProfitLoss
25600000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
52100000 USD
CY2014Q2 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
39000000 USD
CY2015Q2 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
15500000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
31900000 USD
CY2014Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
121600000 USD
CY2015Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
179600000 USD
CY2014Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4349700000 USD
CY2015Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
5166300000 USD
CY2014Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4228100000 USD
CY2015Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4986700000 USD
CY2014Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
92000000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
143300000 USD
CY2015Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
140500000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
278200000 USD
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-10000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
90000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
200000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
14000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
605000000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-62000000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-60200000 USD
CY2014Q2 us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
4800000 USD
us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
14100000 USD
CY2015Q2 us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
23300000 USD
us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
46700000 USD
CY2014Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
33300000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
40600000 USD
CY2015Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
9200000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
18700000 USD
CY2014Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
6100000 USD
us-gaap Sales Of Real Estate
SalesOfRealEstate
17400000 USD
CY2015Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
0 USD
us-gaap Sales Of Real Estate
SalesOfRealEstate
2100000 USD
CY2014Q4 us-gaap Secured Debt
SecuredDebt
2195900000 USD
CY2015Q2 us-gaap Secured Debt
SecuredDebt
3277900000 USD
CY2014Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
900000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1800000 USD
CY2015Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1800000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3200000 USD
CY2014Q4 us-gaap Senior Notes
SeniorNotes
702400000 USD
CY2015Q2 us-gaap Senior Notes
SeniorNotes
702500000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3400000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
14100000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
215000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
11300000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
901100000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1115300000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3043900000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3046600000 USD
CY2014Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1200000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1800000 USD
CY2015Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1300000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1300000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1800000 USD
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
102115350 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
101435250 shares
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111428358 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103936881 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89140498 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
88645002 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103721472 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97669080 shares
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;">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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