2017 Q4 Form 10-Q Financial Statement

#000140810017000146 Filed on November 03, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 Q4
Revenue $181.5M $277.2M $180.4M
YoY Change 0.61% 59.04% 8.48%
Cost Of Revenue $6.500M $63.40M $9.000M
YoY Change -27.78% 2436.0%
Gross Profit $174.8M $209.1M $158.4M
YoY Change 10.35% 21.71% -4.75%
Gross Profit Margin 96.31% 75.43% 87.8%
Selling, General & Admin $144.2M $12.90M $134.4M
YoY Change 7.29% -0.77% 13.8%
% of Gross Profit 82.49% 6.17% 84.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $55.30M $55.40M $50.90M
YoY Change 8.64% 10.8% 8.76%
% of Gross Profit 31.64% 26.49% 32.13%
Operating Expenses $199.5M $175.8M $185.3M
YoY Change 7.66% 51.42% 12.37%
Operating Profit -$4.300M $58.90M $53.40M
YoY Change -108.05% 47.62% -2.38%
Interest Expense -$38.40M $56.80M $30.40M
YoY Change -226.32% -389.8% 176.36%
% of Operating Profit 96.43% 56.93%
Other Income/Expense, Net $92.50M -$49.10M $3.700M
YoY Change 2400.0% 130.52% -167.27%
Pretax Income $88.20M $6.100M $57.10M
YoY Change 54.47% -67.2% 16.06%
Income Tax -$17.20M -$3.700M $11.90M
% Of Pretax Income -19.5% -60.66% 20.84%
Net Earnings $105.4M -$8.900M $45.20M
YoY Change 133.19% 345.0% 59.72%
Net Earnings / Revenue 58.07% -3.21% 25.06%
Basic Earnings Per Share $0.69 -$0.08 $0.13
Diluted Earnings Per Share $0.69 -$0.08 $0.13
COMMON SHARES
Basic Shares Outstanding 151.4M shares 112.0M shares 113.4M shares
Diluted Shares Outstanding 112.0M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $358.8M $1.241B $893.2M
YoY Change -59.83% 26.5% 21.38%
Cash & Equivalents $351.3M $1.233B $885.7M
Short-Term Investments $7.500M $7.800M $7.500M
Other Short-Term Assets $13.30M $12.30M $10.20M
YoY Change 30.39% -13.38% 0.99%
Inventory
Prepaid Expenses
Receivables $62.70M $86.60M $71.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $427.3M $611.8M $341.7M
YoY Change 25.05% 69.47% 38.12%
LONG-TERM ASSETS
Property, Plant & Equipment $6.488B $23.60M $25.40M
YoY Change 25443.31% -99.62% -99.56%
Goodwill $23.90M $23.90M $23.90M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $493.9M $1.235B $1.193B
YoY Change -58.6% 9.25% 442.56%
Other Assets $0.00 $28.40M
YoY Change -100.0%
Total Long-Term Assets $7.298B $7.925B $7.315B
YoY Change -0.24% 4.19% -0.45%
TOTAL ASSETS
Total Short-Term Assets $427.3M $611.8M $341.7M
Total Long-Term Assets $7.298B $7.925B $7.315B
Total Assets $7.725B $8.537B $7.657B
YoY Change 0.89% 7.15% 0.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.50M $20.40M $11.20M
YoY Change 74.11% 39.73% -49.55%
Accrued Expenses $465.9M $493.0M $412.1M
YoY Change 13.06% 12.02% 5.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $485.4M $513.4M $423.3M
YoY Change 14.67% 12.91% 2.2%
LONG-TERM LIABILITIES
Long-Term Debt $5.662B $5.629B $4.893B
YoY Change 15.72% 12.94% 13.35%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.662B $5.629B $4.893B
YoY Change 15.72% 12.94% 13.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $485.4M $513.4M $423.3M
Total Long-Term Liabilities $5.662B $5.629B $4.893B
Total Liabilities $6.147B $6.142B $5.314B
YoY Change 15.69% 12.93% 12.32%
SHAREHOLDERS EQUITY
Retained Earnings -$90.60M -$160.4M -$112.2M
YoY Change -19.25% 50.33% 153.85%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.366B $1.013B $1.048B
YoY Change
Total Liabilities & Shareholders Equity $7.725B $8.537B $7.657B
YoY Change 0.89% 7.15% 0.8%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q4
OPERATING ACTIVITIES
Net Income $105.4M -$8.900M $45.20M
YoY Change 133.19% 345.0% 59.72%
Depreciation, Depletion And Amortization $55.30M $55.40M $50.90M
YoY Change 8.64% 10.8% 8.76%
Cash From Operating Activities -$56.60M $61.40M $24.50M
YoY Change -331.02% -9.57% -61.72%
INVESTING ACTIVITIES
Capital Expenditures -$345.7M -$203.1M -$201.2M
YoY Change 71.82% -32.5% -48.88%
Acquisitions
YoY Change
Other Investing Activities $418.2M $61.30M $237.9M
YoY Change 75.79% -36.74% 44.01%
Cash From Investing Activities $72.50M -$141.8M $36.70M
YoY Change 97.55% -30.49% -116.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -873.9M 28.30M -116.1M
YoY Change 652.71% -89.24% -134.18%
NET CHANGE
Cash From Operating Activities -56.60M 61.40M 24.50M
Cash From Investing Activities 72.50M -141.8M 36.70M
Cash From Financing Activities -873.9M 28.30M -116.1M
Net Change In Cash -858.0M -52.10M -54.90M
YoY Change 1462.84% -141.09% -131.32%
FREE CASH FLOW
Cash From Operating Activities -$56.60M $61.40M $24.50M
Capital Expenditures -$345.7M -$203.1M -$201.2M
Free Cash Flow $289.1M $264.5M $225.7M
YoY Change 28.09% -28.28% -50.68%

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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 Cost Of Real Estate Sales
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73700000 USD
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us-gaap Costs And Expenses
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CY2017Q3 us-gaap Costs And Expenses
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231200000 USD
us-gaap Costs And Expenses
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3100000 USD
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CY2017Q3 us-gaap Deposit Assets
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CY2017Q3 us-gaap Derivative Assets
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CY2017Q3 us-gaap Development In Process
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us-gaap Direct Costs Of Hotels
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CY2017Q3 us-gaap Direct Costs Of Hotels
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26100000 USD
us-gaap Direct Costs Of Hotels
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73300000 USD
CY2016Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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CY2017Q3 us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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38000000 USD
us-gaap Direct Costs Of Leased And Rented Property Or Equipment
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110500000 USD
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us-gaap Distributed Earnings
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CY2017Q3 us-gaap Distributed Earnings
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us-gaap Distributed Earnings
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58600000 USD
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1600000 USD
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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51500000 USD
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us-gaap Gain Loss On Sale Of Properties
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us-gaap Gain Loss On Sale Of Properties
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21500000 USD
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76000000 USD
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5300000 USD
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us-gaap General And Administrative Expense
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us-gaap General And Administrative Expense
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18600000 USD
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33400000 USD
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6100000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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33500000 USD
us-gaap Income Loss From Equity Method Investments
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4100000 USD
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10400000 USD
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15600000 USD
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4900000 USD
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19900000 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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555600000 USD
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us-gaap Operating Expenses
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50500000 USD
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100000 USD
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200000 USD
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100000 USD
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200000 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 For Derivative Instrument Investing Activities
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends Common Stock
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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1600000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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0 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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us-gaap Payments To Acquire Marketable Securities
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us-gaap Payments To Acquire Mortgage Notes Receivable
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16100000 USD
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 Acquire Real Estate
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475000000 USD
us-gaap Payments To Minority Shareholders
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70600000 USD
us-gaap Payments To Minority Shareholders
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3300000 USD
CY2016Q3 us-gaap Preferred Stock Dividends And Other Adjustments
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500000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
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1600000 USD
CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
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0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
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0 USD
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10200000 USD
CY2017Q3 us-gaap Prepaid Expense Current And Noncurrent
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15200000 USD
us-gaap Proceeds From Advances For Construction
ProceedsFromAdvancesForConstruction
0 USD
us-gaap Proceeds From Advances For Construction
ProceedsFromAdvancesForConstruction
36900000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
145400000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
16900000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
43300000 USD
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
3100000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
63400000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
89400000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
933400000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
258300000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
250000000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
125000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
400000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
25300000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
43600000 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
600000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
266000000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
261900000 USD
CY2016Q3 us-gaap Profit Loss
ProfitLoss
13100000 USD
us-gaap Profit Loss
ProfitLoss
31300000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
9800000 USD
us-gaap Profit Loss
ProfitLoss
32600000 USD
CY2016Q3 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
14100000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
46700000 USD
CY2017Q3 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
16100000 USD
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
41300000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25400000 USD
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23600000 USD
CY2016Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
374300000 USD
CY2017Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
524300000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
6188500000 USD
CY2017Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
6845100000 USD
CY2016Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
5814200000 USD
CY2017Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6320800000 USD
CY2016Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
174300000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
523000000 USD
CY2017Q3 us-gaap Real Estate Revenue Net
RealEstateRevenueNet
277200000 USD
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
629100000 USD
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
-100000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
125000000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
407100000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
142600000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-112200000 USD
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-160400000 USD
CY2016Q3 us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
31400000 USD
us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
87300000 USD
CY2017Q3 us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
37300000 USD
us-gaap Revenue From Owned Hotels
RevenueFromOwnedHotels
95800000 USD
CY2016Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
5400000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
22900000 USD
CY2017Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
7500000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
17500000 USD
CY2016Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
2500000 USD
us-gaap Sales Of Real Estate
SalesOfRealEstate
16700000 USD
CY2017Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
89800000 USD
us-gaap Sales Of Real Estate
SalesOfRealEstate
103400000 USD
CY2016Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2500000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
6000000 USD
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
2100000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
5900000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
47800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
29200000 USD
CY2016Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
28700000 USD
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1600000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1048000000 USD
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
1013400000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2343100000 USD
CY2017Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2394300000 USD
CY2016Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
400000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
1300000 USD
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
200000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
700000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
6200000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-15800000 USD
CY2016Q4 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
28400000 USD
CY2017Q3 us-gaap Value Added Tax Receivable
ValueAddedTaxReceivable
30500000 USD
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108634228 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
108966540 shares
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111966716 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111955924 shares
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108634228 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108966540 shares
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111966716 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111955924 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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