Choice Hotels International, Inc. (CHH) Financial Statements (2023 and earlier)

Company Profile

Business Address 1 CHOICE HOTELS CIRCLE
ROCKVILLE, MD 20850
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7011 - Hotels and Motels (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments41,566511,605  26,642235,336
Cash and cash equivalents41,566511,605  26,642235,336
Restricted cash and investments 7002,1002,3002,1001,9001,700
Receivables273,839220,111118,731141,566138,018125,452
Prepaid expense 29,64015,610    
Other current assets   19,98024,72732,24328,241
Other undisclosed current assets2,17712,235291,90368,19644,98112,204
Total current assets:347,922761,661432,914236,589243,784402,933
Noncurrent Assets
Operating lease, right-of-use asset68,98534,18317,68824,088✕✕
Property, plant and equipment427,306377,367334,901351,502127,53583,374
Long-term investments and receivables55,57766,451111,090103,05483,440147,993
Due from related parties   111,090103,05483,440147,993
Accounts and financing receivable, after allowance for credit loss55,57766,451    
Intangible assets, net (including goodwill)960,843471,585462,921449,617440,18495,429
Goodwill218,653159,196159,196159,196168,99680,757
Intangible assets, net (excluding goodwill)742,190312,389303,725290,421271,18814,672
Restricted cash and investments   29,10424,97819,39820,838
Deferred costs 32,40036,100 27,10021,30022,600
Deferred income tax assets88,18268,64367,74520,747✕✕
Other noncurrent assets91,06890,02188,39697,44284,40029,479
Other undisclosed noncurrent assets29,89225,81342,57451,555118,329124,961
Total noncurrent assets:1,754,2531,170,1631,154,4191,150,083894,586524,674
TOTAL ASSETS:2,102,1751,931,8241,587,3331,386,6721,138,370927,607
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities250,273198,849162,249176,348178,139152,154
Interest and dividends payable✕✕13,208 12,53511,977 
Taxes payable✕✕    2,776
Accounts payable118,86381,16983,32973,44973,51163,540
Accrued liabilities131,410104,47278,92090,36492,65185,838
Deferred revenue182,64981,53850,29071,594✕✕
Debt2,976216,351 7,5111,0971,232
Deferred revenue and credits✕✕✕✕✕✕141,111
Other undisclosed current liabilities 73,55743,30870,435139,203 
Total current liabilities:435,898570,295255,847325,888318,439294,497
Noncurrent Liabilities
Long-term debt and lease obligation, including:1,200,547879,6151,058,738844,102753,514725,292
Long-term debt, excluding current maturities1,200,547844,123    
Other undisclosed long-term debt and lease obligation   1,045,999822,832753,514725,292
Liabilities, other than long-term debt274,397135,557154,934142,27663,37294,354
Accounts payable and accrued liabilities15,48220,64223,39426,14726,27629,041
Deferred revenue181,530105,785122,406112,662✕✕
Deferred tax liabilities, net✕✕✕✕✕ 39
Other liabilities6,3919,1309,1343,46737,09665,274
Operating lease, liability70,99435,49212,73921,270✕✕
Other undisclosed noncurrent liabilities36,67380,475123,56697,917186,81725,566
Total noncurrent liabilities:1,511,6171,095,6471,337,2381,084,2951,003,703845,212
Total liabilities:1,947,5151,665,9421,593,0851,410,1831,322,1421,139,709
Equity
Equity, attributable to parent, including:154,660265,882(5,752)(23,511)(183,772)(212,102)
Common stock   951951951951
Treasury stock, value(1,694,857)(1,265,032)(1,260,478)(1,219,905)(1,187,625)(1,064,573)
Additional paid in capital298,053259,317233,921231,160213,170182,448
Accumulated other comprehensive loss(5,211)(4,574)(4,646)(4,550)(5,446)(4,699)
Retained earnings1,555,7241,275,2201,024,500968,833795,178673,771
Other undisclosed equity, attributable to parent951951    
Total equity:154,660265,882(5,752)(23,511)(183,772)(212,102)
TOTAL LIABILITIES AND EQUITY:2,102,1751,931,8241,587,3331,386,6721,138,370927,607

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,401,9491,069,298774,0721,114,8201,041,3041,007,356
Revenue, net✕✕✕✕✕✕379,350
Cost of revenue(732,322)(494,191)(473,993)(602,059)(544,307)(579,514)
Gross profit:669,627575,107300,079512,761496,997427,842
Operating expenses(207,275)(145,905)(163,275)(179,189)(174,316)(163,377)
Other undisclosed operating income (loss)16,249(269)(14,751)(14,930)(4,207)(32)
Operating income:478,601428,933122,053318,642318,474264,433
Nonoperating expense(41,795)(52,441)(69,047)(48,713)(45,216)(40,436)
Investment income, nonoperating27010,11511,83514,8586,0159,149
Interest and debt expense(43,797)(46,680)(16,565)(7,188)(45,908)(45,039)
Income from continuing operations before equity method investments, income taxes:393,009329,81236,441262,741227,350178,958
Other undisclosed income from continuing operations before income taxes43,79746,68016,5657,18845,90845,039
Income from continuing operations before income taxes:436,806376,49253,006269,929273,258223,997
Income tax expense (benefit)(104,654)(87,535)22,381(47,051)(56,903)(109,104)
Income from continuing operations:332,152288,95775,387222,878216,355114,893
Income before gain (loss) on sale of properties:✕288,95775,387222,878216,355114,893
Net income attributable to parent:332,152288,95775,387222,878216,355114,893
Other undisclosed net loss available to common stockholders, basic(1,881)(1,125)(423)(1,352)(1,248)(794)
Net income available to common stockholders, basic:330,271287,83274,964221,526215,107114,099
Other undisclosed net income available to common stockholders, diluted    673
Net income available to common stockholders, diluted:330,271287,83274,964221,532215,114114,102

Comprehensive Income ($ in thousands)
Annual | Quarterly

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:332,152288,95775,387222,878216,355114,893
Other comprehensive income (loss)    896(747)3,823
Comprehensive income:332,152288,95775,387223,774215,608118,716
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(637)72(96)   
Comprehensive income, net of tax, attributable to parent:331,515289,02975,291223,774215,608118,716

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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