XML 19 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Room revenues $ 327,833 $ 335,384 $ 610,970 $ 618,682
Other hotel revenues 4,956 4,927 9,377 9,220
Total revenues 332,789 340,311 620,347 627,902
Hotel operating expenses 149,078 146,499 294,638 291,494
General and administrative expenses 23,988 26,036 48,940 49,536
Depreciation and amortization 55,011 50,529 108,319 99,712
Total operating expenses 228,077 223,064 451,897 440,742
OTHER INCOME 0 38 18 41
INCOME FROM OPERATIONS 104,712 117,285 168,468 187,201
OTHER NON-OPERATING EXPENSE (INCOME) 114 (873) (764) 892
INTEREST EXPENSE, NET 35,764 35,501 82,749 66,818
INCOME (LOSS) BEFORE INCOME TAX (BENEFIT) EXPENSE 68,834 82,657 86,483 119,491
INCOME TAX (BENEFIT) EXPENSE 7,448 17,852 10,344 26,826
NET INCOME (LOSS) 61,386 64,805 76,139 92,665
NET (INCOME) LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS (657) (6,822) 1,636 (13,134)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 60,729 $ 57,983 $ 77,775 $ 79,531
NET INCOME PER COMMON SHARE:        
Net income (loss) per common share - basic (dollars per share) $ 0.30 $ 0.28 $ 0.38 $ 0.39
Net income (loss) per common share - diluted (dollars per share) $ 0.30 $ 0.28 $ 0.38 $ 0.39
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:        
Weighted-average number of common shares outstanding - basic (shares) 201,600 204,227 202,955 204,117
Weighted-average number of common shares outstanding - diluted (shares) 201,689 204,553 203,029 204,465
ESH REIT        
REVENUES: Rental revenues from Extended Stay America, Inc. $ 116,492 $ 123,600 $ 232,734 $ 246,791
Hotel operating expenses 22,231 20,737 46,602 45,356
General and administrative expenses 4,167 4,355 7,201 8,359
Depreciation and amortization 53,758 49,287 105,798 97,322
Total operating expenses 80,156 74,379 159,601 151,037
OTHER INCOME 0 37 0 37
INCOME FROM OPERATIONS 36,336 49,258 73,133 95,791
OTHER NON-OPERATING EXPENSE (INCOME) (1) (771) (774) 1,066
INTEREST EXPENSE, NET 35,075 34,734 81,365 65,285
INCOME (LOSS) BEFORE INCOME TAX (BENEFIT) EXPENSE 1,262 15,295 (7,458) 29,440
INCOME TAX (BENEFIT) EXPENSE (209) 107 (3,799) 206
NET INCOME (LOSS) 1,471 15,188 (3,659) 29,234
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 1,467 15,184 (3,667) 29,226
ESH REIT | Class A common stock        
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 814 $ 8,364 $ (2,023) $ 16,100
NET INCOME PER COMMON SHARE:        
Net income (loss) per common share - basic (dollars per share) $ 0.00 $ 0.03 $ (0.01) $ 0.06
Net income (loss) per common share - diluted (dollars per share) $ 0.00 $ 0.03 $ (0.01) $ 0.06
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:        
Weighted-average number of common shares outstanding - basic (shares) 250,494 250,494 250,494 250,408
Weighted-average number of common shares outstanding - diluted (shares) 250,494 250,494 250,494 250,408
ESH REIT | Class B common stock        
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 653 $ 6,820 $ (1,644) $ 13,126
NET INCOME PER COMMON SHARE:        
Net income (loss) per common share - basic (dollars per share) $ 0.00 $ 0.03 $ (0.01) $ 0.06
Net income (loss) per common share - diluted (dollars per share) $ 0.00 $ 0.03 $ (0.01) $ 0.06
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING:        
Weighted-average number of common shares outstanding - basic (shares) 201,600 204,227 202,955 204,117
Weighted-average number of common shares outstanding - diluted (shares) 201,689 204,553 202,955 204,465