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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Total revenues $ 599,772 $ 603,153 $ 1,735,242 $ 1,743,737
Expenses:        
Hotel operating expenses 377,895 365,526 1,076,011 1,052,121
Other operating expenses 1,707 1,468 4,419 3,936
Depreciation and amortization 103,160 101,007 301,721 300,308
General and administrative 12,464 13,425 36,906 38,280
Total expenses 495,226 481,426 1,419,057 1,394,645
Gain on sale of real estate 0 0 159,535 0
Dividend income 0 626 1,752 1,878
Unrealized gains (losses) on equity securities, net (3,950) 43,453 (43,761) 89,348
Interest income 688 478 1,774 1,093
Interest expense (including amortization of debt issuance costs and debt discounts and premiums of $2,689, $2,570, $7,829 and $7,607, respectively) (52,375) (49,308) (151,742) (145,589)
Loss on early extinguishment of debt (8,451) 0 (8,451) (160)
Income (loss) before income taxes and equity in earnings of an investee 40,458 116,976 275,292 295,662
Income tax expense (467) (707) (1,266) (1,949)
Equity in earnings of an investee 83 830 617 881
Net income (loss) 40,074 117,099 274,643 294,594
Other comprehensive income (loss):        
Equity interest in investee’s unrealized gains (losses) (46) 173 91 90
Other comprehensive income (loss) (46) 173 91 90
Comprehensive income $ 40,028 $ 117,272 $ 274,734 $ 294,684
Weighted average common shares outstanding (basic) (in shares) 164,321 164,232 164,294 164,212
Weighted average common shares outstanding (diluted) (in shares) 164,348 164,274 164,332 164,242
Net income per common share (basic and diluted) (in dollars per share) $ 0.24 $ 0.71 $ 1.67 $ 1.79
Hotel operating revenues        
Revenues:        
Total revenues $ 525,290 $ 520,618 $ 1,521,368 $ 1,494,283
Rental income        
Revenues:        
Total revenues 73,619 81,322 210,509 245,543
FF&E reserve income        
Revenues:        
Total revenues $ 863 $ 1,213 $ 3,365 $ 3,911