2021 Q1 Form 10-Q Financial Statement

#000172268421000015 Filed on April 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1 2019 Q3
Revenue $303.0M $410.0M $560.0M
YoY Change -26.1% -12.39% -7.28%
Cost Of Revenue $163.0M $244.0M $321.0M
YoY Change -33.2% -14.08% -10.34%
Gross Profit $140.0M $166.0M $239.0M
YoY Change -15.66% -9.78% -2.85%
Gross Profit Margin 46.2% 40.49% 42.68%
Selling, General & Admin $51.00M $63.00M $76.00M
YoY Change -19.05% -18.18% -12.64%
% of Gross Profit 36.43% 37.95% 31.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.00M $25.00M $25.00M
YoY Change -4.0% -13.79% -16.67%
% of Gross Profit 17.14% 15.06% 10.46%
Operating Expenses $75.00M $88.00M $102.0M
YoY Change -14.77% -16.98% -12.82%
Operating Profit $63.00M $56.00M $91.00M
YoY Change 12.5% 12.0% -13.33%
Interest Expense $28.00M $25.00M $25.00M
YoY Change 12.0% 4.17% 4.17%
% of Operating Profit 44.44% 44.64% 27.47%
Other Income/Expense, Net
YoY Change
Pretax Income $35.00M $31.00M $66.00M
YoY Change 12.9% 19.23% -18.52%
Income Tax $11.00M $9.000M $21.00M
% Of Pretax Income 31.43% 29.03% 31.82%
Net Earnings $24.00M $22.00M $22.00M
YoY Change 9.09% 4.76% -62.07%
Net Earnings / Revenue 7.92% 5.37% 3.93%
Basic Earnings Per Share $0.26 $0.23 $0.47
Diluted Earnings Per Share $0.26 $0.23 $0.47
COMMON SHARES
Basic Shares Outstanding 93.40M shares 93.70M shares 96.20M shares
Diluted Shares Outstanding 93.80M shares 93.90M shares 96.30M shares

Balance Sheet

Concept 2021 Q1 2020 Q1 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $531.0M $749.0M $134.0M
YoY Change -29.11% 163.73% -65.37%
Cash & Equivalents $531.0M $749.0M $134.0M
Short-Term Investments
Other Short-Term Assets $54.00M $48.00M $67.00M
YoY Change 12.5% -65.47% -40.71%
Inventory
Prepaid Expenses $52.00M $54.00M $46.00M
Receivables $274.0M $296.0M $339.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $911.0M $1.147B $586.0M
YoY Change -20.58% 47.43% -31.06%
LONG-TERM ASSETS
Property, Plant & Equipment $268.0M $299.0M $310.0M
YoY Change -10.37% -5.68% -6.34%
Goodwill $1.525B $1.539B $1.539B
YoY Change -0.91% -0.52% 1.72%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $231.0M $236.0M $241.0M
YoY Change -2.12% -18.06% -9.74%
Total Long-Term Assets $3.729B $4.011B $4.044B
YoY Change -7.03% -2.79% -2.34%
TOTAL ASSETS
Total Short-Term Assets $911.0M $1.147B $586.0M
Total Long-Term Assets $3.729B $4.011B $4.044B
Total Assets $4.640B $5.158B $4.630B
YoY Change -10.04% 5.18% -7.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.00M $41.00M $52.00M
YoY Change -34.15% -28.07% -29.73%
Accrued Expenses $203.0M $232.0M $347.0M
YoY Change -12.5% -51.67% -34.77%
Deferred Revenue $78.00M $121.0M $94.00M
YoY Change -35.54% 15.24% 25.33%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $516.0M $21.00M $21.00M
YoY Change 2357.14% 0.0% 0.0%
Total Short-Term Liabilities $824.0M $415.0M $514.0M
YoY Change 98.55% -37.41% -26.78%
LONG-TERM LIABILITIES
Long-Term Debt $2.076B $2.831B $2.106B
YoY Change -26.67% 33.85% -0.85%
Other Long-Term Liabilities $225.0M $265.0M $227.0M
YoY Change -15.09% 31.84% 51.33%
Total Long-Term Liabilities $225.0M $265.0M $227.0M
YoY Change -15.09% 31.84% 51.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $824.0M $415.0M $514.0M
Total Long-Term Liabilities $225.0M $265.0M $227.0M
Total Liabilities $3.649B $4.046B $3.388B
YoY Change -9.81% 14.29% -4.51%
SHAREHOLDERS EQUITY
Retained Earnings -$72.00M $95.00M $77.00M
YoY Change -175.79% 55.74% 50.98%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $408.0M $408.0M $289.0M
YoY Change 0.0% 148.78% 389.83%
Treasury Stock Shares 7.700M shares 7.700M shares 5.500M shares
Shareholders Equity $991.0M $1.112B $1.112B
YoY Change
Total Liabilities & Shareholders Equity $4.640B $5.158B $4.630B
YoY Change -10.04% 5.18% -7.23%

Cashflow Statement

Concept 2021 Q1 2020 Q1 2019 Q3
OPERATING ACTIVITIES
Net Income $24.00M $22.00M $22.00M
YoY Change 9.09% 4.76% -62.07%
Depreciation, Depletion And Amortization $24.00M $25.00M $25.00M
YoY Change -4.0% -13.79% -16.67%
Cash From Operating Activities $64.00M $17.00M $146.0M
YoY Change 276.47% 142.86% 114.71%
INVESTING ACTIVITIES
Capital Expenditures $5.000M $7.000M -$10.00M
YoY Change -28.57% -22.22% -54.55%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$5.000M -$7.000M -$10.00M
YoY Change -28.57% -36.36% -60.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $50.00M
YoY Change -100.0% 11.11%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$21.00M $647.0M -108.0M
YoY Change -103.25% -929.49% 50.0%
NET CHANGE
Cash From Operating Activities $64.00M $17.00M 146.0M
Cash From Investing Activities -$5.000M -$7.000M -10.00M
Cash From Financing Activities -$21.00M $647.0M -108.0M
Net Change In Cash $38.00M $655.0M 28.00M
YoY Change -94.2% -898.78% -196.55%
FREE CASH FLOW
Cash From Operating Activities $64.00M $17.00M $146.0M
Capital Expenditures $5.000M $7.000M -$10.00M
Free Cash Flow $59.00M $10.00M $156.0M
YoY Change 490.0% -600.0% 73.33%

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CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q1 us-gaap Use Of Estimates
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In presenting the Condensed Consolidated Financial Statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Estimates, by their nature, are based on judgment and available information. Accordingly, actual results could differ from those estimates.
CY2021Q1 wh Numberof Owned Hotel Properties
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CY2021Q1 us-gaap Revenue Remaining Performance Obligation
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q1 us-gaap Capitalized Contract Cost Net
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CY2020Q1 us-gaap Net Income Loss
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93700000 shares
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200000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q1 us-gaap Earnings Per Share Basic
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CY2020Q1 us-gaap Earnings Per Share Diluted
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0.32
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CY2021Q1 us-gaap Treasury Stock Shares
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53.43
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191000000 USD
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CY2021Q1 wh Numberof Owned Hotel Properties
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278000000 USD
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CY2021Q1 us-gaap Goodwill
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530000000 USD
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2597000000 USD
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516000000 USD
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22000000 USD
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1493000000 USD
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518000000 USD
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52000000 USD
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71000000 USD
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CY2020Q1 us-gaap Interest Paid Net
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CY2020Q1 us-gaap Litigation Reserve
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19.58
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
8.59
CY2021Q1 wh Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Otherthan Options Nonvested Weighted Average Grant Date Exercise Price
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65.21
CY2020Q4 wh Sharebased Compensation Arrangementby Sharebased Payment Award Equity Instruments Otherthan Options Nonvested Weighted Average Grant Date Exercise Price
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.4018
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.2430
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CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y3M
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0040
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0121
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0098
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0240
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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303000000 USD
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97000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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410000000 USD
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109000000 USD
CY2021Q1 us-gaap Net Income Loss
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11000000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
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9000000 USD
CY2021Q1 us-gaap Depreciation And Amortization
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CY2020Q1 us-gaap Depreciation And Amortization
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25000000 USD
CY2021Q1 us-gaap Interest Expense
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28000000 USD
CY2020Q1 us-gaap Interest Expense
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25000000 USD
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2000000 USD
CY2020Q1 us-gaap Other Restructuring Costs
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1000000 USD
CY2021Q1 us-gaap Restructuring Charges
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CY2020Q1 us-gaap Restructuring Charges
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13000000 USD
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CY2020Q1 wh Transaction Related Costs
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8000000 USD
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CY2020Q1 us-gaap Translation Adjustment Functional To Reporting Currency Increase Decrease Gross Of Tax
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97000000 USD
CY2020Q1 wh Adjusted Earnings Before Interest Taxes Depreciationand Amortization
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109000000 USD
CY2021Q1 us-gaap Restructuring Charges
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CY2020Q1 us-gaap Restructuring Charges
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13000000 USD
CY2020Q4 us-gaap Restructuring Reserve Current
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10000000 USD
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5000000 USD
CY2021Q1 us-gaap Restructuring Reserve Current
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5000000 USD
CY2021Q1 us-gaap Restructuring Reserve Current
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5000000 USD
CY2021Q1 wh Transaction Related Costs
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CY2020Q1 wh Transaction Related Costs
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8000000 USD
CY2021Q1 wh Separation Related Charges
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CY2020Q1 wh Separation Related Charges
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CY2021Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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0 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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14000000 USD
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14000000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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14000000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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14000000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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-66000000 USD

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