XML 29 R16.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
OPERATING ACTIVITIES:    
NET (LOSS) INCOME $ (925) $ 88,062
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 101,562 97,795
Foreign currency transaction loss (gain) 401 (349)
Amortization of deferred financing costs and debt discount 4,129 3,993
Loss on disposal of property and equipment 4,979 3,377
Impairment of long-lived assets 675 0
Equity-based compensation 2,990 4,255
Deferred income tax benefit (3,921) (2,385)
Changes in assets and liabilities:    
Accounts receivable, net 624 (3,464)
Other assets (3,190) (3,331)
Accounts payable and accrued liabilities 2,994 16,144
Net cash provided by operating activities 110,318 204,097
INVESTING ACTIVITIES:    
Purchases of property and equipment (63,317) (84,785)
Development in process payments (41,537) (21,841)
Payment for intangible assets (455) (6,296)
Proceeds from insurance and related recoveries 987 613
Net cash used in investing activities (104,322) (112,309)
FINANCING ACTIVITIES:    
Principal payments on term loan facility (3,154) (5,683)
Proceeds from revolving credit facility 399,765 0
Payments of deferred financing costs (172) 0
Principal payments on finance leases (69) (58)
Tax withholdings related to restricted stock unit settlements (815) (1,571)
Repurchase of Corporation common stock and ESH REIT Class B common stock (Paired Shares) (31,093) 0
Repurchase of Corporation mandatorily redeemable preferred stock (6,422) 0
Corporation common distributions (16,177) (30,287)
ESH REIT common distributions (26,997) (54,938)
ESH REIT preferred distributions (8) (8)
Net cash provided by (used in) financing activities 314,858 (92,545)
CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH DUE TO CHANGES IN FOREIGN CURRENCY EXCHANGE RATES (78) 61
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 320,776 (696)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period 361,670 303,336
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period 682,446 302,640
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash payments for interest, excluding modification, prepayment and other penalties, net of capitalized interest of $1,643 and $751 64,311 57,902
Cash (refunds) payments for income taxes, net of refunds of $181 and $0 1,024 16,583
Operating cash payments for finance leases 118 122
Operating cash payments for operating leases 1,435 1,380
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Capital expenditures included in accounts payable and accrued liabilities 19,042 27,618
Additions to finance lease right-of-use assets and liabilities 457 109
Corporation common distributions included in accounts payable and accrued liabilities 229 380
ESH REIT    
NONCASH INVESTING AND FINANCING ACTIVITIES:    
ESH REIT common distributions included in accounts payable and accrued liabilities $ 385 $ 794