$RLJ
RLJ Lodging Trust

2012 Q3 Form 10-Q Financial Statement

#000110465912076080 Filed on November 08, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q3
Revenue $252.1M $197.3M
YoY Change 27.81% 44.56%
Cost Of Revenue $133.4M $118.8M
YoY Change 12.29% 46.49%
Gross Profit $90.80M $78.40M
YoY Change 15.82% 41.77%
Gross Profit Margin 36.02% 39.75%
Selling, General & Admin $22.30M $18.90M
YoY Change 17.99% 32.17%
% of Gross Profit 24.56% 24.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.80M $27.10M
YoY Change 13.65% 6.69%
% of Gross Profit 33.92% 34.57%
Operating Expenses $187.6M $167.0M
YoY Change 12.37% 33.27%
Operating Profit $36.61M $30.26M
YoY Change 20.98% 171.51%
Interest Expense $20.72M $21.66M
YoY Change -4.34% 0.39%
% of Operating Profit 56.61% 71.6%
Other Income/Expense, Net $100.0K $500.0K
YoY Change -80.0% 150.0%
Pretax Income $16.37M $9.535M
YoY Change 71.65% -226.64%
Income Tax $339.0K $858.0K
% Of Pretax Income 2.07% 9.0%
Net Earnings $15.20M $31.32M
YoY Change -51.48% -467.16%
Net Earnings / Revenue 6.03% 15.88%
Basic Earnings Per Share $0.30 $0.30
Diluted Earnings Per Share $0.30 $0.30
COMMON SHARES
Basic Shares Outstanding 121.6M shares 105.2M shares
Diluted Shares Outstanding 122.8M shares 105.2M shares

Balance Sheet

Concept 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $192.1M $368.5M
YoY Change -47.87%
Cash & Equivalents $343.5M $368.5M
Short-Term Investments
Other Short-Term Assets $28.50M $28.60M
YoY Change -0.35%
Inventory
Prepaid Expenses
Receivables $29.30M $27.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $249.9M $424.4M
YoY Change -41.12%
LONG-TERM ASSETS
Property, Plant & Equipment $3.003B $1.147M
YoY Change 261695.99%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.50M $12.70M
YoY Change -1.57%
Other Assets $78.20M $99.70M
YoY Change -21.56%
Total Long-Term Assets $3.095B $2.874B
YoY Change 7.69%
TOTAL ASSETS
Total Short-Term Assets $249.9M $424.4M
Total Long-Term Assets $3.095B $2.874B
Total Assets $3.345B $3.299B
YoY Change 1.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $80.40M $78.10M
YoY Change 2.94%
Accrued Expenses $2.400M $2.100M
YoY Change 14.29%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $100.7M $96.30M
YoY Change 4.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.417B $1.343B
YoY Change 5.53%
Other Long-Term Liabilities $11.40M $7.300M
YoY Change 56.16%
Total Long-Term Liabilities $1.428B $1.350B
YoY Change 5.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $100.7M $96.30M
Total Long-Term Liabilities $1.428B $1.350B
Total Liabilities $1.532B $1.448B
YoY Change 5.83%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.840B $1.836B
YoY Change 0.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.795B $1.832B
YoY Change
Total Liabilities & Shareholders Equity $3.345B $3.299B
YoY Change 1.41%

Cashflow Statement

Concept 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $15.20M $31.32M
YoY Change -51.48% -467.16%
Depreciation, Depletion And Amortization $30.80M $27.10M
YoY Change 13.65% 6.69%
Cash From Operating Activities $65.50M $38.00M
YoY Change 72.37% 69.64%
INVESTING ACTIVITIES
Capital Expenditures -$21.30M -$25.70M
YoY Change -17.12% 655.88%
Acquisitions
YoY Change
Other Investing Activities $13.90M $5.800M
YoY Change 139.66% -103.03%
Cash From Investing Activities -$7.400M -$19.90M
YoY Change -62.81% -89.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.60M -12.10M
YoY Change 78.51% -118.47%
NET CHANGE
Cash From Operating Activities 65.50M 38.00M
Cash From Investing Activities -7.400M -19.90M
Cash From Financing Activities -21.60M -12.10M
Net Change In Cash 36.50M 6.000M
YoY Change 508.33% -105.6%
FREE CASH FLOW
Cash From Operating Activities $65.50M $38.00M
Capital Expenditures -$21.30M -$25.70M
Free Cash Flow $86.80M $63.70M
YoY Change 36.26% 146.9%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Proceeds From Principal Repayments On Loans And Leases Held For Investment
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us-gaap Payments For Capital Improvements
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Other Short Term Debt
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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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rlj Payments Of Distribution To Operating Partnership
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us-gaap Payments Of Financing Costs
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us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2012Q3 rlj Payments Of Dividends Unvested Restricted Shares
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CY2011Q3 rlj Payments Of Dividends Unvested Restricted Shares
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rlj Payments Of Dividends Unvested Restricted Shares
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rlj Payments Of Dividends Unvested Restricted Shares
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rlj Other Ownership Interests Capital Account Distributions
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dei Entity Registrant Name
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RLJ Lodging Trust
dei Entity Central Index Key
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0001511337
dei Document Type
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10-Q
dei Document Period End Date
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2012-09-30
dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Entity Current Reporting Status
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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2012
dei Document Fiscal Period Focus
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us-gaap Interest Paid
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rlj Increase Decrease In Fair Market Value Of Interest Rate Swaps
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rlj Increase Decrease In Fair Market Value Of Interest Rate Swaps
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CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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us-gaap Fiscal Period
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rlj Real Estate Depreciation And Amortization Expense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
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CY2011Q3 rlj Real Estate Depreciation And Amortization Expense
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Minority Interest In Net Income Loss Operating Partnerships
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CY2012Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
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us-gaap Income Loss From Continuing Operations Per Basic Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2011Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.08
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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EarningsPerShareDiluted
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682000 USD
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80000 USD
us-gaap Share Based Compensation
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1962000 USD
us-gaap Proceeds From Lines Of Credit
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85000000 USD
us-gaap Proceeds From Issuance Of Secured Debt
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85000000 USD
rlj Preferred Units Distributions
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us-gaap Proceeds From Issuance Of Common Stock
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500000 USD
rlj Payments Of Distribution To Limited Partners
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us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
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500000 USD
us-gaap Partners Capital Account Redemptions
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500000 USD
us-gaap Dividends Common Stock
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us-gaap Stock Granted During Period Value Sharebased Compensation
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us-gaap Stock Issued During Period Value New Issues
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CY2012Q3 us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
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us-gaap Business Acquisition Pro Forma Earnings Per Share Basic
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105392071 shares
rlj Business Acquisition Pro Forma Weighted Average Number Of Shares Basic
BusinessAcquisitionProFormaWeightedAverageNumberOfSharesBasic
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BusinessAcquisitionProFormaWeightedAverageNumberOfSharesDiluted
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rlj Business Acquisition Pro Forma Weighted Average Number Of Shares Diluted
BusinessAcquisitionProFormaWeightedAverageNumberOfSharesDiluted
89316830 shares
CY2012Q3 us-gaap Undistributed Earnings
UndistributedEarnings
0 USD
CY2012Q3 us-gaap Line Of Credit Facility Amount Outstanding
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85000000 USD
CY2012Q3 us-gaap Line Of Credit
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85000000 USD
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16079000 USD
us-gaap Gain Loss On Disposition Of Property
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CY2012Q3 rlj Deferred Revenue From Franchise Agreements
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15196000 USD
rlj Net Income Loss Before Discontinued Operations Available To Common Stockholders Basic
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27568000 USD
CY2011Q3 rlj Net Income Loss Before Discontinued Operations Available To Common Stockholders Basic
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8349000 USD
rlj Net Income Loss Before Discontinued Operations Available To Common Stockholders Basic
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15013000 USD
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31162000 USD
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us-gaap Payments To Acquire Real Estate
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457000 USD
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556000 USD
rlj Payments To Acquire Other Assets
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862000 USD
rlj Payments To Acquire Advance Deposits
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368000 USD
rlj Payments To Acquire Advance Deposits
PaymentsToAcquireAdvanceDeposits
163000 USD
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432000 USD
rlj Payments To Acquire Accounts Payable And Accrued Expenses
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rlj Payments For Application Of Purchase Deposit
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8500000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
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194830000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
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182690000 USD
CY2011Q2 rlj Number Of Entities Under Common Control Of Predecessor
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3 entity
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23516000 USD
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rlj Noncash Divestiture Of Real Estate
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31534000 USD
rlj Noncash Divestiture Of Other Assets
NoncashDivestitureOfOtherAssets
8006000 USD
rlj Noncash Divesititure Of Other Liabilities
NoncashDivesititureOfOtherLiabilities
5056000 USD
CY2012Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
896000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
896000 USD
CY2012Q3 us-gaap Occupancy Costs
OccupancyCosts
43545000 USD
CY2012Q3 us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
15159000 USD
CY2012Q3 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
7913000 USD
CY2012Q3 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
67506000 USD
CY2012Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
30811000 USD
CY2012Q3 rlj Real Estate Taxes Rent And Insurance
RealEstateTaxesRentAndInsurance
14234000 USD
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8073000 USD
CY2012Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
326000 USD
CY2012Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
68000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
438000 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
21620000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
339000 USD
CY2012Q3 us-gaap Minority Interest In Net Income Loss Joint Venture Partners
MinorityInterestInNetIncomeLossJointVenturePartners
-44000 USD
CY2012Q3 us-gaap Minority Interest In Net Income Loss Operating Partnerships
MinorityInterestInNetIncomeLossOperatingPartnerships
149000 USD
rlj Noncash Divestiture Of Property
NoncashDivestitureOfProperty
0 USD
rlj Noncash Divestiture Of Property
NoncashDivestitureOfProperty
0 USD

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