2014 Q2 Form 10-Q Financial Statement

#000110465914034998 Filed on May 06, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $451.9M $394.3M $354.5M
YoY Change 9.6% 11.22% 17.6%
Cost Of Revenue $270.8M $230.6M $206.6M
YoY Change 8.97% 11.62% 37.73%
Gross Profit $181.1M $163.6M $147.8M
YoY Change 10.56% 10.69% -2.38%
Gross Profit Margin 40.08% 41.5% 41.7%
Selling, General & Admin $13.20M $11.50M $12.10M
YoY Change 10.92% -4.96% 15.24%
% of Gross Profit 7.29% 7.03% 8.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $78.76M $78.29M $72.28M
YoY Change 7.02% 8.31% 17.79%
% of Gross Profit 43.49% 47.85% 48.9%
Operating Expenses $91.90M $89.70M $84.40M
YoY Change 7.49% 6.28% 17.22%
Operating Profit $89.03M $73.82M $63.12M
YoY Change 19.86% 16.96% -18.63%
Interest Expense $34.94M $35.37M $35.19M
YoY Change -0.21% 0.51% 3.21%
% of Operating Profit 39.25% 47.91% 55.75%
Other Income/Expense, Net
YoY Change
Pretax Income $54.12M $38.26M $27.95M
YoY Change 37.61% 36.91% -35.88%
Income Tax $455.0K $616.0K $518.0K
% Of Pretax Income 0.84% 1.61% 1.85%
Net Earnings $53.92M $37.55M $27.51M
YoY Change 18.88% 36.52% -35.96%
Net Earnings / Revenue 11.93% 9.52% 7.76%
Basic Earnings Per Share $0.15
Diluted Earnings Per Share $359.8K $251.3K $219.3K
COMMON SHARES
Basic Shares Outstanding 149.7M shares 149.6M shares 123.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.50M $33.80M $18.00M
YoY Change -92.28% 87.78% -87.85%
Cash & Equivalents $15.52M $33.83M $18.04M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $39.30M $38.50M
Other Receivables $0.00 $0.00
Total Short-Term Assets $54.80M $72.30M $18.00M
YoY Change -72.7% 301.67% -87.85%
LONG-TERM ASSETS
Property, Plant & Equipment $5.694B $5.627B $5.351B
YoY Change 2.71% 5.17% 6.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $29.20M $26.90M $37.90M
YoY Change -16.09% -29.02% -51.47%
Total Long-Term Assets $5.934B $5.864B $5.641B
YoY Change 1.63% 3.95% 5.84%
TOTAL ASSETS
Total Short-Term Assets $54.80M $72.30M $18.00M
Total Long-Term Assets $5.934B $5.864B $5.641B
Total Assets $5.989B $5.936B $5.659B
YoY Change -0.84% 4.89% 3.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $132.0M $102.2M $118.1M
YoY Change -3.86% -13.46% 9.55%
Accrued Expenses
YoY Change
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 $170.1M $137.1M $145.4M
YoY Change -0.23% -5.71% -29.35%
LONG-TERM LIABILITIES
Long-Term Debt $2.794B $2.754B $2.413B
YoY Change 0.04% 14.12% 5.05%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.794B $2.754B $2.413B
YoY Change 0.04% 14.12% 5.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $170.1M $137.1M $145.4M
Total Long-Term Liabilities $2.794B $2.754B $2.413B
Total Liabilities $2.964B $2.891B $2.558B
YoY Change 0.02% 13.0% 2.23%
SHAREHOLDERS EQUITY
Retained Earnings $2.610B $2.556B $2.412B
YoY Change 6.18% 5.94%
Common Stock $1.497M $1.397M
YoY Change 7.16%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.025B $3.045B $3.101B
YoY Change
Total Liabilities & Shareholders Equity $5.989B $5.936B $5.659B
YoY Change -0.84% 4.89% 3.31%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $53.92M $37.55M $27.51M
YoY Change 18.88% 36.52% -35.96%
Depreciation, Depletion And Amortization $78.76M $78.29M $72.28M
YoY Change 7.02% 8.31% 17.79%
Cash From Operating Activities $138.0M $79.10M $45.20M
YoY Change 8.92% 75.0% -25.9%
INVESTING ACTIVITIES
Capital Expenditures -$114.5M -$41.60M -$64.50M
YoY Change -47.38% -35.5% -71.49%
Acquisitions
YoY Change
Other Investing Activities -$3.300M $10.40M
YoY Change -88.89%
Cash From Investing Activities -$117.8M -$31.20M -$64.50M
YoY Change -52.37% -51.63% -71.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $393.5M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -38.60M -36.50M 17.30M
YoY Change -112.73% -310.98% -94.33%
NET CHANGE
Cash From Operating Activities 138.0M 79.10M 45.20M
Cash From Investing Activities -117.8M -31.20M -64.50M
Cash From Financing Activities -38.60M -36.50M 17.30M
Net Change In Cash -18.40M 11.40M -2.000M
YoY Change -110.07% -670.0% -101.43%
FREE CASH FLOW
Cash From Operating Activities $138.0M $79.10M $45.20M
Capital Expenditures -$114.5M -$41.60M -$64.50M
Free Cash Flow $252.5M $120.7M $109.7M
YoY Change -26.66% 10.03% -61.8%

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DeferredIncomeTaxExpenseBenefit
-212000 USD
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.22
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.15
CY2014Q1 hpt Furniture Fixtures And Equipment Reserve Income Leased Hotel Properties
FurnitureFixturesAndEquipmentReserveIncomeLeasedHotelProperties
928000 USD
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11465000 USD
CY2014Q1 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
61000 USD
CY2014Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
25000 USD
CY2014Q1 us-gaap Replacement Reserve Escrow
ReplacementReserveEscrow
26863000 USD
CY2014Q1 us-gaap Due From Related Parties
DueFromRelatedParties
38503000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
2555604000 USD
CY2014Q1 hpt Proceeds Received From Settlement Of Eminent Domain Taking
ProceedsReceivedFromSettlementOfEminentDomainTaking
6178000 USD
CY2014Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
5492000 USD
CY2013Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
5450000 USD
CY2014Q1 us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
214000 USD

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