2017 Q2 Form 10-Q Financial Statement

#000140810017000098 Filed on August 04, 2017

View on sec.gov

Income Statement

Concept 2017 Q2 2016 Q2
Revenue $177.8M $176.5M
YoY Change 0.74% 25.62%
Cost Of Revenue $9.600M $9.200M
YoY Change 4.35%
Gross Profit $170.7M $167.3M
YoY Change 2.03% 19.07%
Gross Profit Margin 96.01% 94.79%
Selling, General & Admin $11.70M $13.60M
YoY Change -13.97% 0.0%
% of Gross Profit 6.85% 8.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $52.10M $49.00M
YoY Change 6.33% 28.95%
% of Gross Profit 30.52% 29.29%
Operating Expenses $126.2M $119.7M
YoY Change 5.43% 15.21%
Operating Profit $12.90M $16.30M
YoY Change -20.86% 4.49%
Interest Expense $52.10M -$37.40M
YoY Change -239.3% 78.1%
% of Operating Profit 403.88% -229.45%
Other Income/Expense, Net $8.900M -$22.40M
YoY Change -139.73% -144.44%
Pretax Income $30.60M -$6.100M
YoY Change -601.64% -109.24%
Income Tax $8.800M -$3.900M
% Of Pretax Income 28.76%
Net Earnings $9.400M -$1.100M
YoY Change -954.55% -103.46%
Net Earnings / Revenue 5.29% -0.62%
Basic Earnings Per Share $0.08 -$0.02
Diluted Earnings Per Share $0.08 -$0.02
COMMON SHARES
Basic Shares Outstanding 111.7M shares 109.1M shares
Diluted Shares Outstanding 111.7M shares 109.1M shares

Balance Sheet

Concept 2017 Q2 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.273B $861.2M
YoY Change 47.78% -13.26%
Cash & Equivalents $1.265B $856.0M
Short-Term Investments $7.900M $5.200M
Other Short-Term Assets $12.90M $12.20M
YoY Change 5.74% -19.74%
Inventory
Prepaid Expenses
Receivables $93.40M $79.10M
Other Receivables $0.00 $0.00
Total Short-Term Assets $675.5M $274.8M
YoY Change 145.82% 2.5%
LONG-TERM ASSETS
Property, Plant & Equipment $6.086B $5.921B
YoY Change 2.79% 18.24%
Goodwill $23.90M $24.00M
YoY Change -0.42% 0.42%
Intangibles
YoY Change
Long-Term Investments $1.203B $1.131B
YoY Change 6.33% -16.58%
Other Assets
YoY Change
Total Long-Term Assets $7.609B $7.422B
YoY Change 2.52% 4.84%
TOTAL ASSETS
Total Short-Term Assets $675.5M $274.8M
Total Long-Term Assets $7.609B $7.422B
Total Assets $8.284B $7.696B
YoY Change 7.64% 4.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $20.80M $17.50M
YoY Change 18.86% 17.45%
Accrued Expenses $431.4M $419.0M
YoY Change 2.96% 37.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $452.2M $436.5M
YoY Change 3.6% 36.41%
LONG-TERM LIABILITIES
Long-Term Debt $5.480B $4.696B
YoY Change 16.71% 17.97%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.480B $4.696B
YoY Change 16.71% 17.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $452.2M $436.5M
Total Long-Term Liabilities $5.480B $4.696B
Total Liabilities $5.933B $5.132B
YoY Change 15.6% 19.34%
SHAREHOLDERS EQUITY
Retained Earnings -$132.0M -$88.10M
YoY Change 49.83% 46.35%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.028B $1.072B
YoY Change
Total Liabilities & Shareholders Equity $8.284B $7.696B
YoY Change 7.64% 4.75%

Cashflow Statement

Concept 2017 Q2 2016 Q2
OPERATING ACTIVITIES
Net Income $9.400M -$1.100M
YoY Change -954.55% -103.46%
Depreciation, Depletion And Amortization $52.10M $49.00M
YoY Change 6.33% 28.95%
Cash From Operating Activities $57.00M $19.40M
YoY Change 193.81% -64.01%
INVESTING ACTIVITIES
Capital Expenditures -$237.9M -$345.3M
YoY Change -31.1% 50.39%
Acquisitions
YoY Change
Other Investing Activities $246.2M $77.50M
YoY Change 217.68% -68.86%
Cash From Investing Activities $8.300M -$267.8M
YoY Change -103.1% -1487.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 368.5M 247.0M
YoY Change 49.19% 2.7%
NET CHANGE
Cash From Operating Activities 57.00M 19.40M
Cash From Investing Activities 8.300M -267.8M
Cash From Financing Activities 368.5M 247.0M
Net Change In Cash 433.8M -1.400M
YoY Change -31085.71% -100.45%
FREE CASH FLOW
Cash From Operating Activities $57.00M $19.40M
Capital Expenditures -$237.9M -$345.3M
Free Cash Flow $294.9M $364.7M
YoY Change -19.14% 28.64%

Facts In Submission

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1700000 USD
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CY2017Q2 us-gaap Deposit Assets
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us-gaap Direct Costs Of Hotels
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22800000 USD
us-gaap Direct Costs Of Hotels
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CY2016Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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32800000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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63800000 USD
CY2017Q2 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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36600000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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72600000 USD
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us-gaap Distributed Earnings
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CY2017Q2 us-gaap Distributed Earnings
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38600000 USD
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33100000 USD
us-gaap Dividends
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39100000 USD
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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31500000 USD
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57300000 USD
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383100000 USD
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409000000 USD
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58100000 USD
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75000000 USD
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16100000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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54500000 USD
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66300000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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us-gaap General And Administrative Expense
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10000000 USD
us-gaap General And Administrative Expense
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14800000 USD
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30600000 USD
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27400000 USD
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28100000 USD
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35900000 USD
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8800000 USD
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4600000 USD
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3800000 USD
us-gaap Income Taxes Paid
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7700000 USD
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11600000 USD
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14300000 USD
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13100000 USD
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us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest And Fee Income Loans And Leases
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us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
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4500000 USD
us-gaap Interest And Fee Income Loans And Leases Held In Portfolio
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6500000 USD
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24300000 USD
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16600000 USD
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4600000 USD
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3600000 USD
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66100000 USD
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35500000 USD
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69900000 USD
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555600000 USD
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499000000 USD
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9400000 USD
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10200000 USD
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100000 USD
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100000 USD
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100000 USD
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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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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Mortgage Notes Receivable
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us-gaap Payments To Acquire Real Estate
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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500000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
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us-gaap Preferred Stock Dividends And Other Adjustments
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12900000 USD
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6400000 USD
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25700000 USD
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35200000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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69000000 USD
us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Issuance Of Secured Debt
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166800000 USD
us-gaap Proceeds From Lines Of Credit
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100000000 USD
us-gaap Proceeds From Lines Of Credit
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400000000 USD
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12900000 USD
us-gaap Proceeds From Minority Shareholders
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22700000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
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0 USD
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200000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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183400000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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243000000 USD
CY2016Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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18200000 USD
CY2017Q2 us-gaap Profit Loss
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21800000 USD
us-gaap Profit Loss
ProfitLoss
22800000 USD
CY2016Q2 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
13500000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
32600000 USD
CY2017Q2 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
7700000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
25200000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
374300000 USD
CY2017Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
466000000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
6188500000 USD
CY2017Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
6528100000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
5814200000 USD
CY2017Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6062100000 USD
CY2016Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
176500000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
348700000 USD
CY2017Q2 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
177800000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
351900000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
97500000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
100600000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-112200000 USD
CY2017Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-132000000 USD
CY2016Q2 us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
26800000 USD
us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
55900000 USD
CY2017Q2 us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
29000000 USD
us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
58500000 USD
CY2016Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
6500000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
175000000 USD
CY2017Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
300000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
10000000 USD
CY2016Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
12300000 USD
us-gaap Sales Of Real Estate
SalesOfRealEstate
14200000 USD
CY2017Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
12800000 USD
us-gaap Sales Of Real Estate
SalesOfRealEstate
13600000 USD
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1800000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3500000 USD
CY2017Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
1700000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
3700000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
32200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
19900000 USD
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
28000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1600000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1048000000 USD
CY2017Q2 us-gaap Stockholders Equity
StockholdersEquity
1027500000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2343100000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2351700000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
500000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1000000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
200000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
500000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
6300000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-7000000 USD
CY2016Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
23200000 USD
CY2017Q2 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
27000000 USD
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109056941 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109136241 shares
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111723952 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111945354 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109056941 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109136241 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111723952 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111945354 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:11pt;"><font style="font-family:inherit;font-size:11pt;"></font><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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