2020 Q2 Form 10-Q Financial Statement

#000151133720000025 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $32.59M $448.7M $399.3M
YoY Change -92.74% -7.42% -7.06%
Cost Of Revenue $50.40M $262.2M $249.6M
YoY Change -80.78% -7.25% -8.57%
Gross Profit -$17.80M $186.5M $149.6M
YoY Change -109.54% -7.67% -4.47%
Gross Profit Margin -54.62% 41.56% 37.47%
Selling, General & Admin $37.00M $43.00M $41.80M
YoY Change -13.95% -15.85% -7.93%
% of Gross Profit 23.06% 27.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.20M $55.00M $58.40M
YoY Change -10.55% -10.86% -4.89%
% of Gross Profit 29.49% 39.04%
Operating Expenses $136.6M $360.6M $350.4M
YoY Change -62.1% -8.86% -8.17%
Operating Profit -$154.4M -$174.1M -$200.8M
YoY Change -11.28% -295.45% -517.62%
Interest Expense $23.79M $25.24M $20.06M
YoY Change -5.72% -0.81% -30.1%
% of Operating Profit
Other Income/Expense, Net $282.0K $349.0K $274.0K
YoY Change -19.2% -38.23% -74.93%
Pretax Income -$128.0M $37.10M $29.92M
YoY Change -444.95% -44.42% 18.55%
Income Tax -$11.81M $3.417M $1.586M
% Of Pretax Income 9.21% 5.3%
Net Earnings -$115.1M $33.44M $27.25M
YoY Change -444.08% -47.51% 15.04%
Net Earnings / Revenue -353.09% 7.45% 6.83%
Basic Earnings Per Share -$0.74 $0.16 $0.12
Diluted Earnings Per Share -$0.74 $0.16 $0.12
COMMON SHARES
Basic Shares Outstanding 163.5M shares 172.7M shares 172.8M shares
Diluted Shares Outstanding 163.5M shares 172.8M shares 172.9M shares

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.048B $697.6M $241.5M
YoY Change 50.29% 82.38% -39.91%
Cash & Equivalents $1.048B $697.6M $241.5M
Short-Term Investments
Other Short-Term Assets $36.40M $48.00M $59.00M
YoY Change -24.17% -35.91% -30.91%
Inventory
Prepaid Expenses
Receivables $11.40M $65.00M $67.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.096B $810.6M $368.1M
YoY Change 35.23% 52.66% -34.75%
LONG-TERM ASSETS
Property, Plant & Equipment $4.697B $4.853B $5.505B
YoY Change -3.21% -12.31% -2.34%
Goodwill
YoY Change
Intangibles $173.0K $5.676M
YoY Change -99.86% -95.59%
Long-Term Investments $14.86M $16.61M $21.95M
YoY Change -10.53% -29.27% -5.6%
Other Assets $109.1M $261.1M $100.3M
YoY Change -58.22% 11.92% -25.04%
Total Long-Term Assets $4.821B $5.131B $5.632B
YoY Change -6.04% -13.27% -4.9%
TOTAL ASSETS
Total Short-Term Assets $1.096B $810.6M $368.1M
Total Long-Term Assets $4.821B $5.131B $5.632B
Total Assets $5.917B $5.942B $6.001B
YoY Change -0.41% -7.84% -7.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $205.2M $183.8M $169.4M
YoY Change 11.64% -11.76% -11.95%
Accrued Expenses $125.2M $129.3M $139.3M
YoY Change -3.17% 1496.3% 822.52%
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 $339.1M $378.0M $374.3M
YoY Change -10.29% 33.9% 37.06%
LONG-TERM LIABILITIES
Long-Term Debt $2.592B $2.201B $2.200B
YoY Change 17.77% -14.34% -16.08%
Other Long-Term Liabilities $41.20M $23.10M $30.10M
YoY Change 78.35% -27.13% -19.3%
Total Long-Term Liabilities $2.633B $2.224B $2.230B
YoY Change 18.4% -14.5% -16.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $339.1M $378.0M $374.3M
Total Long-Term Liabilities $2.633B $2.224B $2.230B
Total Liabilities $2.972B $2.605B $2.607B
YoY Change 14.1% -9.83% -11.24%
SHAREHOLDERS EQUITY
Retained Earnings -$434.2M -$216.6M -$187.1M
YoY Change 100.5% 74.93% 51.93%
Common Stock $3.073B $3.184B $3.189B
YoY Change -3.5% -0.96% -0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.923B $3.313B $3.369B
YoY Change
Total Liabilities & Shareholders Equity $5.917B $5.942B $6.001B
YoY Change -0.41% -7.84% -7.5%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$115.1M $33.44M $27.25M
YoY Change -444.08% -47.51% 15.04%
Depreciation, Depletion And Amortization $49.20M $55.00M $58.40M
YoY Change -10.55% -10.86% -4.89%
Cash From Operating Activities -$84.50M $118.2M $75.04M
YoY Change -171.49% -18.37% 47.22%
INVESTING ACTIVITIES
Capital Expenditures -$13.70M -$46.80M $52.00K
YoY Change -70.73% 0.65% 92.59%
Acquisitions
YoY Change
Other Investing Activities $0.00 $449.9M -$600.0K
YoY Change -100.0% 44890.0% -100.52%
Cash From Investing Activities -$13.70M $403.1M -$44.10M
YoY Change -103.4% -985.93% -156.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $366.0K
YoY Change -20.78%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.30M -71.00M -$120.1M
YoY Change -85.49% -39.32% -61.16%
NET CHANGE
Cash From Operating Activities -84.50M 118.2M $75.04M
Cash From Investing Activities -13.70M 403.1M -$44.10M
Cash From Financing Activities -10.30M -71.00M -$120.1M
Net Change In Cash -108.5M 450.3M -$89.14M
YoY Change -124.1% -2644.07% -50.68%
FREE CASH FLOW
Cash From Operating Activities -$84.50M $118.2M $75.04M
Capital Expenditures -$13.70M -$46.80M $52.00K
Free Cash Flow -$70.80M $165.0M $74.99M
YoY Change -142.91% -13.75% 47.19%

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us-gaap Profit Loss
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us-gaap Profit Loss
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CY2019Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
96000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
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us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
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CY2019Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
141000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
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-760000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
233000 USD
CY2020Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
CY2019Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
186000 USD
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OtherPreferredStockDividendsAndAdjustments
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CY2019Q2 us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
0 USD
us-gaap Other Preferred Stock Dividends And Adjustments
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0 USD
us-gaap Other Preferred Stock Dividends And Adjustments
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CY2020Q2 us-gaap Net Income Loss
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CY2019Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2020Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
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6279000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
12557000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
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12557000 USD
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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27165000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2019Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q2 us-gaap Earnings Per Share Diluted
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CY2019Q2 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172766091 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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165346717 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2020Q2 us-gaap Profit Loss
ProfitLoss
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CY2019Q2 us-gaap Profit Loss
ProfitLoss
33681000 USD
us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2019Q2 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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0 USD
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
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0 USD
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
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CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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12036000 USD
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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23982000 USD
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CY2019Q2 us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
96000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
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-1837000 USD
us-gaap Noncontrolling Interest In Net Income Loss Joint Venture Partners Nonredeemable
NoncontrollingInterestInNetIncomeLossJointVenturePartnersNonredeemable
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CY2020Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
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CY2019Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
141000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
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-760000 USD
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
233000 USD
CY2020Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
CY2019Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
186000 USD
CY2020Q2 us-gaap Other Preferred Stock Dividends And Adjustments
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CY2019Q2 us-gaap Other Preferred Stock Dividends And Adjustments
OtherPreferredStockDividendsAndAdjustments
0 USD
us-gaap Other Preferred Stock Dividends And Adjustments
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0 USD
us-gaap Other Preferred Stock Dividends And Adjustments
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1153000 USD
CY2020Q2 rlj Comprehensive Income Loss Attributableto Common Shareholders
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CY2019Q2 rlj Comprehensive Income Loss Attributableto Common Shareholders
ComprehensiveIncomeLossAttributabletoCommonShareholders
11799000 USD
rlj Comprehensive Income Loss Attributableto Common Shareholders
ComprehensiveIncomeLossAttributabletoCommonShareholders
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rlj Comprehensive Income Loss Attributableto Common Shareholders
ComprehensiveIncomeLossAttributabletoCommonShareholders
22666000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Net Income Loss
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us-gaap Profit Loss
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8000 USD
rlj Contributionsfromanoncontrollinginterest
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us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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6487000 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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us-gaap Stock Repurchased During Period Value
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62605000 USD
us-gaap Restricted Stock Award Forfeitures
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us-gaap Dividends Preferred Stock
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us-gaap Dividends Common Stock
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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2945471000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 rlj Contributionsfromanoncontrollinginterest
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CY2020Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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3588000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
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CY2020Q2 us-gaap Restricted Stock Award Forfeitures
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2945471000 USD
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us-gaap Profit Loss
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us-gaap Stock Issued During Period Value Conversion Of Units
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rlj Contributionsfromanoncontrollinginterest
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us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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656000 USD
us-gaap Stock Repurchased During Period Value
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us-gaap Restricted Stock Award Forfeitures
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us-gaap Dividends Preferred Stock
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us-gaap Preferred Stock Dividends And Other Adjustments
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186000 USD
us-gaap Stock Redeemed Or Called During Period Value
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CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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3337001000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q2 us-gaap Profit Loss
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33681000 USD
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CY2019Q2 us-gaap Stock Granted During Period Value Sharebased Compensation
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3204000 USD
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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CY2019Q2 us-gaap Stock Repurchased During Period Value
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Amortization Of Financing Costs
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1902000 USD
us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
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us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
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55000 USD
us-gaap Income Loss From Equity Method Investments
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us-gaap Income Loss From Equity Method Investments
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us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
0 USD
us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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5760000 USD
us-gaap Deferred Income Tax Expense Benefit
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4052000 USD
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193152000 USD
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94000 USD
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100000 USD
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603000 USD
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1577000 USD
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2436000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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359018000 USD
us-gaap Proceeds From Lines Of Credit
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us-gaap Proceeds From Lines Of Credit
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140000000 USD
us-gaap Repayments Of Lines Of Credit
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us-gaap Repayments Of Lines Of Credit
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us-gaap Proceeds From Issuance Of Secured Debt
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381000000 USD
us-gaap Repayments Of Secured Debt
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us-gaap Repayments Of Secured Debt
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2375000 USD
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us-gaap Payments For Repurchase Of Other Equity
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us-gaap Payments For Repurchase Of Other Equity
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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12557000 USD
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
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12557000 USD
us-gaap Payments Of Dividends Common Stock
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57700000 USD
us-gaap Payments Of Dividends Common Stock
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rlj Paymentsof Distributionson Operating Partnership Units
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427000 USD
rlj Paymentsof Distributionson Operating Partnership Units
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620000 USD
us-gaap Payments Of Financing Costs
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us-gaap Payments Of Financing Costs
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4636000 USD
us-gaap Payments Of Distributions To Affiliates
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0 USD
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
312000 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 USD
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
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45583000 USD
rlj Cashreceivedfromanoncontrollinginterest
Cashreceivedfromanoncontrollinginterest
1264000 USD
rlj Cashreceivedfromanoncontrollinginterest
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2305000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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263333000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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165860000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
361088000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
927160000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
384842000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1093020000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
745930000 USD
CY2020Q2 rlj Operating Partnerships Unit Outstanding
OperatingPartnershipsUnitOutstanding
165865246 shares
rlj Direct And Indirect Ownership Interest In Operating Partnerships
DirectAndIndirectOwnershipInterestInOperatingPartnerships
0.995
CY2020Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
104 property
CY2020Q2 us-gaap Number Of Units In Real Estate Property
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22700 room
CY2020Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
23 state
CY2020Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
104 property
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1100000000 USD
CY2020Q2 rlj Real Estate Interests Numberof Joint Ventures
RealEstateInterestsNumberofJointVentures
2 joint_venture
CY2020Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.50
us-gaap Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
<div style="text-indent:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Reclassifications</span></div><div style="text-indent:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-indent:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Certain prior year amounts in these financial statements have been reclassified to conform to the current year presentation with no impact to net (loss) income and comprehensive (loss) income, shareholders’ equity or cash flows.</span></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-indent:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Use of Estimates</span></div><div style="text-indent:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-indent:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of the Company’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. Given the additional and unforeseen effects from the COVID-19 pandemic, these estimates have become more challenging, and actual results could differ from those estimates.</span></div>
CY2020Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
1089545000 USD
CY2019Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
1088436000 USD
CY2020Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
4066761000 USD
CY2019Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
4039012000 USD
CY2020Q2 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
695449000 USD
CY2019Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
685699000 USD
CY2020Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
5851755000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
5813147000 USD
CY2020Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1296127000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1198181000 USD
CY2020Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4555628000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4614966000 USD
CY2020Q2 rlj Real Estate Depreciation Expense Excluding Discontinued Operations Expense
RealEstateDepreciationExpenseExcludingDiscontinuedOperationsExpense
49000000.0 USD
rlj Real Estate Depreciation Expense Excluding Discontinued Operations Expense
RealEstateDepreciationExpenseExcludingDiscontinuedOperationsExpense
97900000 USD
CY2019Q2 rlj Real Estate Depreciation Expense Excluding Discontinued Operations Expense
RealEstateDepreciationExpenseExcludingDiscontinuedOperationsExpense
54300000 USD
rlj Real Estate Depreciation Expense Excluding Discontinued Operations Expense
RealEstateDepreciationExpenseExcludingDiscontinuedOperationsExpense
112000000.0 USD
CY2020Q2 us-gaap Equity Method Investments
EquityMethodInvestments
14862000 USD
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
15171000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-390000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2784000 USD
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-975000 USD
CY2019Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2403000 USD
CY2020Q2 us-gaap Revenues
Revenues
32591000 USD
CY2019Q2 us-gaap Revenues
Revenues
448727000 USD
us-gaap Revenues
Revenues
298073000 USD
us-gaap Revenues
Revenues
847994000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
2591674000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
2195707000 USD
CY2020Q2 rlj Unsecured Debt Gross
UnsecuredDebtGross
1575000000 USD
CY2019Q4 rlj Unsecured Debt Gross
UnsecuredDebtGross
1175000000 USD
CY2020Q2 rlj Unamortizeddebtissuancecostsontermloans
Unamortizeddebtissuancecostsontermloans
6502000 USD
CY2019Q4 rlj Unamortizeddebtissuancecostsontermloans
Unamortizeddebtissuancecostsontermloans
6207000 USD
CY2022Q2 rlj Debt Instrument Covenant Maximum Leverage Ratio
DebtInstrumentCovenantMaximumLeverageRatio
7.50
CY2020Q2 rlj Debt Instrument Covenant Minimum Liquidity Level
DebtInstrumentCovenantMinimumLiquidityLevel
125000000.0 USD
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
CY2020Q2 rlj Secured Debt Gross
SecuredDebtGross
528190000 USD
CY2019Q4 rlj Secured Debt Gross
SecuredDebtGross
530299000 USD
CY2020Q2 rlj Unamortizeddebtissuancecostsonmortgageloans
Unamortizeddebtissuancecostsonmortgageloans
3136000 USD
CY2019Q4 rlj Unamortizeddebtissuancecostsonmortgageloans
Unamortizeddebtissuancecostsonmortgageloans
3869000 USD
CY2020Q2 rlj Mortgage Loan In Cash Trap Event
MortgageLoanInCashTrapEvent
1 loan
CY2020Q2 rlj Mortgage Loans Will Be In Cash Trap Event
MortgageLoansWillBeInCashTrapEvent
4 loan
CY2020Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1045000 USD
CY2019Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1110000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2067000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1902000 USD
CY2020Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
371000 USD
CY2019Q2 us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-2195000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
-1186000 USD
us-gaap Gain Loss On Interest Rate Derivative Instruments Not Designated As Hedging Instruments
GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments
55000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
23794000 USD
CY2019Q2 us-gaap Interest Expense
InterestExpense
25237000 USD
us-gaap Interest Expense
InterestExpense
47607000 USD
us-gaap Interest Expense
InterestExpense
45299000 USD
CY2020Q2 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
2124000000 USD
CY2019Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
1674000000 USD
CY2020Q2 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-82573000 USD
CY2019Q4 us-gaap Interest Rate Cash Flow Hedge Derivative At Fair Value Net
InterestRateCashFlowHedgeDerivativeAtFairValueNet
-19514000 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-82600000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
-19500000 USD
us-gaap Amount Of Ineffectiveness On Net Investment Hedges
AmountOfIneffectivenessOnNetInvestmentHedges
0 USD
us-gaap Amount Of Ineffectiveness On Net Investment Hedges
AmountOfIneffectivenessOnNetInvestmentHedges
0 USD
CY2020Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
27800000 USD
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
2591674000 USD
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
2195707000 USD
CY2020Q2 rlj Number Of Real Estate Properties Operated Under Franchise Agreements
NumberOfRealEstatePropertiesOperatedUnderFranchiseAgreements
73 hotel
CY2016Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
29 hotel
rlj Minimum Percentage Of Adjusted Taxable Income Currently Distributed To Qualify As Reit
MinimumPercentageOfAdjustedTaxableIncomeCurrentlyDistributedToQualifyAsREIT
0.90
CY2020Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
rlj Restricted Cash Reserves Escrows As Percentage Of Revenue Required To Be Maintained Minimum
RestrictedCashReservesEscrowsAsPercentageOfRevenueRequiredToBeMaintainedMinimum
0.030
rlj Restricted Cash Reserves Escrows As Percentage Of Revenue Required To Be Maintained Maximum
RestrictedCashReservesEscrowsAsPercentageOfRevenueRequiredToBeMaintainedMaximum
0.050
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
44600000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
44700000 USD
CY2016Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
8300000 USD
CY2020Q2 rlj Number Of Real Estate Properties Operated Under Management Agreements
NumberOfRealEstatePropertiesOperatedUnderManagementAgreements
103 hotel
CY2016Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
29 hotel
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
62600000 USD
rlj Noi Guarantee Termination Payment
NOIGuaranteeTerminationPayment
35000000.0 USD
rlj Noi Guarantee Termination Payment
NOIGuaranteeTerminationPayment
35000000.0 USD
CY2020Q2 rlj Reductionof Management Fee Expense
ReductionofManagementFeeExpense
4200000 USD
rlj Reductionof Management Fee Expense
ReductionofManagementFeeExpense
8800000 USD
CY2020Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
213400000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1049215 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
18400000 USD
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.01
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
7500000 shares
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-115074000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
33444000 USD
us-gaap Net Income Loss
NetIncomeLoss
-144398000 USD
us-gaap Net Income Loss
NetIncomeLoss
60697000 USD
CY2020Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6279000 USD
CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6279000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
12557000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
12557000 USD
CY2020Q2 rlj Paymentsof Dividendson Unvested Restricted Shares
PaymentsofDividendsonUnvestedRestrictedShares
15000 USD
CY2019Q2 rlj Paymentsof Dividendson Unvested Restricted Shares
PaymentsofDividendsonUnvestedRestrictedShares
378000 USD
rlj Paymentsof Dividendson Unvested Restricted Shares
PaymentsofDividendsonUnvestedRestrictedShares
29000 USD
rlj Paymentsof Dividendson Unvested Restricted Shares
PaymentsofDividendsonUnvestedRestrictedShares
690000 USD
CY2020Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2019Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2020Q2 rlj Net Income Loss Available To Common Stockholders Basic Excluding Amounts Attributable To Unvested Restricted Shares
NetIncomeLossAvailableToCommonStockholdersBasicExcludingAmountsAttributableToUnvestedRestrictedShares
-121368000 USD
CY2019Q2 rlj Net Income Loss Available To Common Stockholders Basic Excluding Amounts Attributable To Unvested Restricted Shares
NetIncomeLossAvailableToCommonStockholdersBasicExcludingAmountsAttributableToUnvestedRestrictedShares
26787000 USD
rlj Net Income Loss Available To Common Stockholders Basic Excluding Amounts Attributable To Unvested Restricted Shares
NetIncomeLossAvailableToCommonStockholdersBasicExcludingAmountsAttributableToUnvestedRestrictedShares
-156984000 USD
rlj Net Income Loss Available To Common Stockholders Basic Excluding Amounts Attributable To Unvested Restricted Shares
NetIncomeLossAvailableToCommonStockholdersBasicExcludingAmountsAttributableToUnvestedRestrictedShares
47450000 USD
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
163543701 shares
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
172661878 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165346717 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
172729064 shares
CY2020Q2 rlj Incremental Common Shares Attributable To Unvested Restricted Shares
IncrementalCommonSharesAttributableToUnvestedRestrictedShares
0 shares
CY2019Q2 rlj Incremental Common Shares Attributable To Unvested Restricted Shares
IncrementalCommonSharesAttributableToUnvestedRestrictedShares
104213 shares
rlj Incremental Common Shares Attributable To Unvested Restricted Shares
IncrementalCommonSharesAttributableToUnvestedRestrictedShares
0 shares
rlj Incremental Common Shares Attributable To Unvested Restricted Shares
IncrementalCommonSharesAttributableToUnvestedRestrictedShares
79449 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
163543701 shares
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172766091 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165346717 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
172808513 shares
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.74
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.16
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.74
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.16
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1048442000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
697600000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
44578000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
48330000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1093020000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
745930000 USD
us-gaap Interest Paid
InterestPaid
44870000 USD
us-gaap Interest Paid
InterestPaid
47228000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
187000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2506000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
6466000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
7489 USD
rlj Gross Proceedsfrom Saleof Real Estate Heldforinvestment
GrossProceedsfromSaleofRealEstateHeldforinvestment
0 USD
rlj Gross Proceedsfrom Saleof Real Estate Heldforinvestment
GrossProceedsfromSaleofRealEstateHeldforinvestment
456831000 USD
rlj Disposal Group Costof Dispositionof Property Plantand Equipment
DisposalGroupCostofDispositionofPropertyPlantandEquipment
-94000 USD
rlj Disposal Group Costof Dispositionof Property Plantand Equipment
DisposalGroupCostofDispositionofPropertyPlantandEquipment
4435000 USD
rlj Noncash Divestiture Of Other Assets
NoncashDivestitureOfOtherAssets
0 USD
rlj Noncash Divestiture Of Other Assets
NoncashDivestitureOfOtherAssets
4903000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
94000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
447493000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7770000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5059000 USD

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