Summit Hotel Properties, Inc. (INN) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
13215 BEE CAVE PARKWAY AUSTIN, TX 78738 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 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 investments | 51,255 | 64,485 | 20,719 | 42,238 | 44,088 | 36,545 | |||
| Cash and cash equivalents | 51,255 | 64,485 | 20,719 | 42,238 | 44,088 | 36,545 | |||
| Prepaid expense | 3,347 | 8,404 | 6,745 | 5,533 | 2,822 | 3,020 | |||
| Derivative instruments and hedges, assets | 16,841 | ||||||||
| Total current assets: | 71,443 | 72,889 | 27,464 | 47,771 | 46,910 | 39,565 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 35,023 | 26,942 | 28,420 | 29,884 | ✕ | ✕ | |||
| Intangible assets, net (including goodwill) | 34,844 | 10,834 | 10,921 | 11,007 | 20,956 | 21,763 | |||
| Intangible assets, net (excluding goodwill) | 34,844 | 10,834 | 10,921 | 11,007 | 20,956 | 21,763 | |||
| Regulated entity, other noncurrent assets | 11,328 | 11,518 | 6,733 | 6,563 | 6,299 | 4,873 | |||
| Total noncurrent assets: | 81,195 | 49,294 | 46,074 | 47,454 | 27,255 | 26,636 | |||
| Other undisclosed assets | 2,869,632 | 2,142,719 | 2,159,481 | 2,260,458 | 2,148,132 | 2,143,673 | |||
| TOTAL ASSETS: | 3,022,270 | 2,264,902 | 2,233,019 | 2,355,683 | 2,222,297 | 2,209,874 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 4,623 | 4,717 | |||||||
| Off-market lease, unfavorable | 4,623 | 4,717 | |||||||
| Total noncurrent liabilities: | 4,623 | 4,717 | |||||||
| Other undisclosed liabilities | 1,564,101 | 1,157,710 | 1,180,956 | 1,112,293 | 1,025,530 | 927,781 | |||
| Total liabilities: | 1,564,101 | 1,157,710 | 1,180,956 | 1,112,293 | 1,030,153 | 932,498 | |||
| Temporary equity, carrying amount | 50,219 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 959,813 | 948,073 | 988,742 | 1,173,778 | 1,189,849 | 1,274,502 | |||
| Common stock | 1,069 | 1,063 | 1,057 | 1,052 | 1,048 | 1,043 | |||
| Additional paid in capital | 1,232,302 | 1,225,184 | 1,197,320 | 1,190,949 | 1,185,310 | 1,262,679 | |||
| Accumulated other comprehensive income (loss) | 14,538 | (15,639) | (30,716) | (16,034) | (1,441) | 1,451 | |||
| Retained earnings (accumulated deficit) | (288,200) | (262,639) | (179,013) | (2,283) | 4,838 | 9,201 | |||
| Other undisclosed equity, attributable to parent | 104 | 104 | 94 | 94 | 94 | 128 | |||
| Equity, attributable to noncontrolling interest | 448,137 | 159,119 | 63,321 | 69,612 | 2,295 | 2,874 | |||
| Total equity: | 1,407,950 | 1,107,192 | 1,052,063 | 1,243,390 | 1,192,144 | 1,277,376 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,022,270 | 2,264,902 | 2,233,019 | 2,355,683 | 2,222,297 | 2,209,874 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 675,695 | 361,926 | 234,463 | 549,348 | 567,270 | 515,377 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 515,377 | |
| Cost of revenue | (436,134) | (357,794) | (321,113) | (449,217) | (460,961) | (325,604) | ||
| Cost of goods and services sold | (325,604) | |||||||
| Gross profit: | 239,561 | 4,132 | (86,650) | 100,131 | 106,309 | 189,773 | ||
| Operating expenses | (192,094) | (37,638) | (22,744) | (26,143) | (22,584) | (19,951) | ||
| Other undisclosed operating income (loss) | 20,315 | 240 | (16) | 45,418 | 41,474 | (85,927) | ||
| Operating income (loss): | 67,782 | (33,266) | (109,410) | 119,406 | 125,199 | 83,895 | ||
| Nonoperating income (expense) | (62,954) | (33,845) | (38,459) | (35,558) | (34,995) | 17,300 | ||
| Other nonoperating income | 2,627 | 9,523 | 4,841 | 5,472 | 6,949 | 3,778 | ||
| Interest and debt expense | (65,581) | (43,368) | (43,300) | (41,030) | (41,944) | (29,687) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (60,753) | (110,479) | (191,169) | 42,818 | 48,260 | 71,508 | ||
| Other undisclosed income from continuing operations before income taxes | 65,581 | 43,368 | 43,300 | 41,030 | 41,944 | 29,687 | ||
| Income (loss) from continuing operations before income taxes: | 4,828 | (67,111) | (147,869) | 83,848 | 90,204 | 101,195 | ||
| Income tax expense (benefit) | (3,611) | (1,473) | (1,376) | (1,500) | 922 | (1,674) | ||
| Income (loss) from continuing operations: | 1,217 | (68,584) | (149,245) | 82,348 | 91,126 | 99,521 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | (68,584) | (149,245) | 82,348 | 91,126 | 99,521 | |
| Net income (loss): | 1,217 | (68,584) | (149,245) | 82,348 | 91,126 | 99,521 | ||
| Net income (loss) attributable to noncontrolling interest | 249 | 3,011 | 5,906 | 262 | (205) | (307) | ||
| Net income (loss) attributable to parent: | 1,466 | (65,573) | (143,339) | 82,610 | 90,921 | 99,214 | ||
| Preferred stock dividends and other adjustments | (18,395) | (18,141) | (14,838) | (14,838) | (19,948) | (19,980) | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (81) | |||||||
| Net income (loss) available to common stockholders, diluted: | (16,929) | (83,714) | (158,258) | 67,772 | 70,973 | 79,234 | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 1,217 | (68,584) | (149,245) | 82,348 | 91,126 | 99,521 | ||
| Other comprehensive income (loss) | 32,564 | 15,127 | (14,673) | (14,596) | (2,900) | 2,437 | ||
| Comprehensive income (loss): | 33,781 | (53,457) | (163,918) | 67,752 | 88,226 | 101,958 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (2,138) | (197) | (316) | |||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 2,990 | 5,931 | 296 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 31,643 | (50,467) | (157,987) | 68,048 | 88,029 | 101,642 | ||
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.