2016 Q2 Form 10-Q Financial Statement

#000151133716000372 Filed on August 04, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $317.1M $301.3M
YoY Change 5.26% 2.1%
Cost Of Revenue $174.3M $166.6M
YoY Change 4.62% 1.71%
Gross Profit $142.8M $134.6M
YoY Change 6.09% 2.51%
Gross Profit Margin 45.03% 44.68%
Selling, General & Admin $26.00M $28.70M
YoY Change -9.41% 2.14%
% of Gross Profit 18.21% 21.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.90M $37.80M
YoY Change 8.2% 6.78%
% of Gross Profit 28.64% 28.08%
Operating Expenses $241.2M $233.9M
YoY Change 3.12% 1.84%
Operating Profit $75.90M $67.34M
YoY Change 12.71% 3.02%
Interest Expense $14.79M $12.34M
YoY Change 19.89% -12.78%
% of Operating Profit 19.48% 18.32%
Other Income/Expense, Net -$326.0K $456.0K
YoY Change -171.49% 14.0%
Pretax Income $61.20M $55.83M
YoY Change 9.62% 6.15%
Income Tax $2.482M $89.00K
% Of Pretax Income 4.06% 0.16%
Net Earnings $58.74M $56.41M
YoY Change 4.13% 5.71%
Net Earnings / Revenue 18.52% 18.73%
Basic Earnings Per Share $0.47 $0.43
Diluted Earnings Per Share $0.47 $0.42
COMMON SHARES
Basic Shares Outstanding 123.5M shares 130.7M shares
Diluted Shares Outstanding 123.9M shares 131.6M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.1M $263.9M
YoY Change -39.33% -29.38%
Cash & Equivalents $160.1M $263.9M
Short-Term Investments
Other Short-Term Assets $34.60M $33.80M
YoY Change 2.37% 1.5%
Inventory
Prepaid Expenses
Receivables $34.30M $31.80M
Other Receivables $0.00 $0.00
Total Short-Term Assets $229.0M $329.5M
YoY Change -30.5% -25.45%
LONG-TERM ASSETS
Property, Plant & Equipment $3.621B $3.507B
YoY Change 3.26% -2.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $108.2M $76.90M
YoY Change 40.7% 2.81%
Total Long-Term Assets $3.731B $3.593B
YoY Change 3.85% -2.02%
TOTAL ASSETS
Total Short-Term Assets $229.0M $329.5M
Total Long-Term Assets $3.731B $3.593B
Total Assets $3.960B $3.922B
YoY Change 0.97% -4.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $147.2M $117.4M
YoY Change 25.38% -0.42%
Accrued Expenses $3.200M $2.700M
YoY Change 18.52% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $191.7M $166.3M
YoY Change 15.27% 9.77%
LONG-TERM LIABILITIES
Long-Term Debt $1.583B $1.402B
YoY Change 12.93% -10.13%
Other Long-Term Liabilities $11.90M $10.90M
YoY Change 9.17% -0.91%
Total Long-Term Liabilities $1.595B $1.413B
YoY Change 12.9% -10.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $191.7M $166.3M
Total Long-Term Liabilities $1.595B $1.413B
Total Liabilities $1.797B $1.587B
YoY Change 13.23% -8.06%
SHAREHOLDERS EQUITY
Retained Earnings $3.877M
YoY Change
Common Stock $2.189B $2.365B
YoY Change -7.45% -2.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.151B $2.318B
YoY Change
Total Liabilities & Shareholders Equity $3.960B $3.922B
YoY Change 0.97% -4.54%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $58.74M $56.41M
YoY Change 4.13% 5.71%
Depreciation, Depletion And Amortization $40.90M $37.80M
YoY Change 8.2% 6.78%
Cash From Operating Activities $109.0M $101.8M
YoY Change 7.07% 1.39%
INVESTING ACTIVITIES
Capital Expenditures -$19.00M -$37.40M
YoY Change -49.2% 57.81%
Acquisitions
YoY Change
Other Investing Activities -$6.800M -$7.900M
YoY Change -13.92% -95.52%
Cash From Investing Activities -$25.80M -$45.30M
YoY Change -43.05% -77.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -49.20M -132.4M
YoY Change -62.84% -165.38%
NET CHANGE
Cash From Operating Activities 109.0M 101.8M
Cash From Investing Activities -25.80M -45.30M
Cash From Financing Activities -49.20M -132.4M
Net Change In Cash 34.00M -75.90M
YoY Change -144.8% -173.76%
FREE CASH FLOW
Cash From Operating Activities $109.0M $101.8M
Capital Expenditures -$19.00M -$37.40M
Free Cash Flow $128.0M $139.2M
YoY Change -8.05% 12.17%

Facts In Submission

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FoodAndBeverageCostOfSales
20492000 USD
us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
41256000 USD
CY2016Q2 us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
20525000 USD
us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
40342000 USD
CY2015Q2 us-gaap Food And Beverage Revenue
FoodAndBeverageRevenue
29587000 USD
us-gaap Food And Beverage Revenue
FoodAndBeverageRevenue
58580000 USD
CY2016Q2 us-gaap Food And Beverage Revenue
FoodAndBeverageRevenue
30047000 USD
us-gaap Food And Beverage Revenue
FoodAndBeverageRevenue
56601000 USD
CY2015Q2 us-gaap Franchise Costs
FranchiseCosts
19200000 USD
us-gaap Franchise Costs
FranchiseCosts
36300000 USD
CY2016Q2 us-gaap Franchise Costs
FranchiseCosts
20200000 USD
us-gaap Franchise Costs
FranchiseCosts
37600000 USD
CY2015Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
672000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
22970000 USD
CY2016Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
22000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-150000 USD
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10393000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20792000 USD
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6658000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16307000 USD
CY2015Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2016Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
55324000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
58425000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
83894000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-25000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
81028000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-1698000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
55827000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
82006000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
61200000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
88197000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
55738000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
81542000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
58718000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
84239000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
89000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
464000 USD
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2482000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3958000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1384000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1400000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-18727000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1669000 USD
us-gaap Increase Decrease In Accounts Receivable
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6111000 USD
us-gaap Increase Decrease In Accounts Receivable
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8531000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3611000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
732000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-3113000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
5815000 USD
CY2015Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
656000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1232000 USD
CY2016Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0 USD
CY2015Q2 us-gaap Interest Expense
InterestExpense
12335000 USD
us-gaap Interest Expense
InterestExpense
25843000 USD
CY2016Q2 us-gaap Interest Expense
InterestExpense
14789000 USD
us-gaap Interest Expense
InterestExpense
29681000 USD
us-gaap Interest Paid
InterestPaid
23827000 USD
us-gaap Interest Paid
InterestPaid
29157000 USD
CY2015Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
4883000 USD
CY2016Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3185000 USD
CY2015Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
16602000 USD
CY2016Q2 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
42216000 USD
CY2016Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-15700000 USD
CY2015Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
3205704000 USD
CY2016Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
3219024000 USD
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
363000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
808000 USD
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
414000 USD
CY2015Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
736709000 USD
CY2016Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
736409000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
1772418000 USD
CY2016Q2 us-gaap Liabilities
Liabilities
1796579000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3972942000 USD
CY2016Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
3960330000 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
1169437000 USD
CY2016Q2 us-gaap Long Term Debt
LongTermDebt
1168439000 USD
CY2015Q4 us-gaap Minority Interest
MinorityInterest
17709000 USD
CY2016Q2 us-gaap Minority Interest
MinorityInterest
13104000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
195000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
259000 USD
CY2015Q4 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
6177000 USD
CY2016Q2 us-gaap Minority Interest In Joint Ventures
MinorityInterestInJointVentures
5893000 USD
CY2015Q4 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
11532000 USD
CY2016Q2 us-gaap Minority Interest In Operating Partnerships
MinorityInterestInOperatingPartnerships
7211000 USD
us-gaap Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
1 loan
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-303531000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-93641000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
159033000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-44684000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
145921000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
164187000 USD
CY2015Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
55991000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
103841000 USD
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
58447000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
83744000 USD
CY2015Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
46000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
-23000 USD
CY2016Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
37000 USD
CY2015Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
373000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
694000 USD
CY2016Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
256000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
370000 USD
CY2016Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
125 property
CY2016Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
21 state
CY2016Q2 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
20800 room
CY2015Q2 us-gaap Occupancy Costs
OccupancyCosts
55207000 USD
us-gaap Occupancy Costs
OccupancyCosts
109293000 USD
CY2016Q2 us-gaap Occupancy Costs
OccupancyCosts
59085000 USD
us-gaap Occupancy Costs
OccupancyCosts
114113000 USD
CY2015Q2 us-gaap Occupancy Revenue
OccupancyRevenue
262240000 USD
us-gaap Occupancy Revenue
OccupancyRevenue
494799000 USD
CY2016Q2 us-gaap Occupancy Revenue
OccupancyRevenue
277039000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
118000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
5331000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
222000 USD
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
18278000 USD
CY2016Q2 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
10026000 USD
us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
19130000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
456000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
546000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-326000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-24000 USD
CY2015Q2 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
12500000 USD
us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
23400000 USD
CY2016Q2 us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
12600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
157000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
195000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
259000 USD
us-gaap Occupancy Revenue
OccupancyRevenue
516552000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
233909000 USD
us-gaap Operating Expenses
OperatingExpenses
465162000 USD
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
241211000 USD
us-gaap Operating Expenses
OperatingExpenses
475191000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
67343000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
106495000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
75901000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
117092000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
407000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
376000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
5919000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-3484000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-5366000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-25614000 USD
CY2015Q2 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
59228000 USD
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
119809000 USD
CY2016Q2 us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
61950000 USD
us-gaap Other Direct Costs Of Hotels
OtherDirectCostsOfHotels
121971000 USD
CY2015Q2 us-gaap Other Hotel Operating Revenue
OtherHotelOperatingRevenue
9425000 USD
us-gaap Owned Property Management Costs
OwnedPropertyManagementCosts
23700000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
64695000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
41346000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
7000000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
3800000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1117000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
59841000 USD
us-gaap Payments For Repurchase Of Equity
PaymentsForRepurchaseOfEquity
13271000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
83204000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
82316000 USD
CY2016Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2016Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4516038000 USD
CY2016Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4543332000 USD
CY2015Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3674999000 USD
CY2016Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3623168000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
51000000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
155808000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1872000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
55455000 USD
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
32563000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
34602000 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
11000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
51000000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
227837000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2634000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
56410000 USD
us-gaap Profit Loss
ProfitLoss
104512000 USD
CY2016Q2 us-gaap Profit Loss
ProfitLoss
58740000 USD
us-gaap Profit Loss
ProfitLoss
84089000 USD
CY2015Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
841039000 USD
CY2016Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
920164000 USD
CY2016Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
61270000 USD
us-gaap Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
0 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2439000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3877000 USD
CY2015Q2 us-gaap Revenues
Revenues
301252000 USD
us-gaap Revenues
Revenues
571657000 USD
CY2016Q2 us-gaap Revenues
Revenues
317112000 USD
us-gaap Revenues
Revenues
592283000 USD
CY2015Q4 us-gaap Secured Debt
SecuredDebt
406049000 USD
CY2016Q2 us-gaap Secured Debt
SecuredDebt
414800000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
7791000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2014000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
2554 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
22.26
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
7500000 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4099523 shares
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
66000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
57000 USD
us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2015Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
400000000.0 USD
CY2016Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
161542669 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
59841000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13300000 USD
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
13271000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
2182815000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
2150647000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2378484000 USD
CY2015Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2335724000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2200524000 USD
CY2016Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2163751000 USD
CY2015Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
72000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
95000 USD
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
117000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
10000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2016Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2015Q4 us-gaap Unsecured Debt
UnsecuredDebt
1169437000 USD
CY2016Q2 us-gaap Unsecured Debt
UnsecuredDebt
1168439000 USD
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131618693 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
131947932 shares
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
123942846 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
124051956 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130670629 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
130969957 shares
CY2016Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123544034 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
123641928 shares
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net income, shareholders&#8217; equity or cash flows.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the Company&#8217;s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of certain assets and liabilities and the amounts of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>

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0001511337-16-000372-index-headers.html Edgar Link pending
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exhibit3116302016.htm Edgar Link pending
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