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SEC Filings

8-K
RLJ LODGING TRUST filed this Form 8-K on 08/07/2018
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RLJ Lodging Trust
Reconciliation of Non-GAAP Measures
(Amounts in thousands, except per share data)
(unaudited)

FFO Attributable to Common Shareholders and Unitholders
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2018
 
2017
 
2018
 
2017
Net income
$
64,393

 
$
42,464

 
$
88,286

 
$
64,242

Preferred dividends
(6,279
)
 

 
(12,557
)
 

Preferred distributions - consolidated joint venture
(370
)
 

 
(735
)
 

Depreciation and amortization
61,648

 
38,240

 
123,056

 
76,905

(Gain) loss on sale of hotel properties
(796
)
 
(30
)
 
2,938

 
30

Noncontrolling interest in consolidated joint ventures
(55
)
 
(29
)
 
179

 
37

Adjustments related to consolidated joint ventures (1)
(80
)
 
(30
)
 
(155
)
 
(62
)
Adjustments related to unconsolidated joint ventures (2)
669

 

 
1,337

 

FFO
119,130

 
80,615

 
202,349

 
141,152

Transaction costs
247

 
3,691

 
1,920

 
4,316

Gain on extinguishment of indebtedness
(7
)
 

 
(7,666
)
 

Amortization of share-based compensation
3,172

 
3,134

 
5,686

 
5,469

Non-cash income tax expense
1,826

 
1,323

 
2,929

 
2,261

Other expenses (3)
3,547

 

 
4,168

 

Adjusted FFO
$
127,915

 
$
88,763

 
$
209,386

 
$
153,198

 
 
 
 
 
 
 
 
Adjusted FFO per common share and unit-basic
$
0.73

 
$
0.71

 
$
1.20

 
$
1.23

Adjusted FFO per common share and unit-diluted
$
0.73

 
$
0.71

 
$
1.20

 
$
1.23

 
 
 
 
 
 
 
 
Basic weighted-average common shares and units outstanding (4)
175,013

 
124,344

 
174,990

 
124,319

Diluted weighted-average common shares and units outstanding (4)
175,138

 
124,431

 
175,090

 
124,415


Note:
(1) Includes depreciation and amortization expense allocated to the noncontrolling interest in the consolidated joint ventures.
(2)  Includes our ownership interest of the depreciation and amortization expense of the unconsolidated joint ventures.
(3) Represents income and expenses outside of the normal course of operations, including debt modification costs, hurricane-related costs that are not reimbursed by insurance, executive transition costs, and activist shareholder costs.
(4)  Includes 0.8 million and 0.6 million weighted-average operating partnership units for the three and six month periods ended June 30, 2018 and 2017, respectively.










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