XML 34 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Shareholders' Deficit - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in- Capital
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
[3]
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
[3]
Beginning balance (in shares) at Dec. 31, 2018   55,679,207            
Beginning balance at Dec. 31, 2018 $ (183,772) $ 951 $ 213,170 $ (5,446) $ (1,187,625) $ 795,178    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 30,081         30,081    
Other comprehensive income (loss) 8     8        
Other [1] (614)         (614)    
Share based payment activity (in shares)   408,545            
Share based payment activity 12,920   3,214   9,706      
Dividends declared ($0.215 per share) (12,149)         (12,149)    
Treasury purchases (in shares)   (414,077)            
Treasury purchases (31,951)       (31,951)      
Ending balance (in shares) at Mar. 31, 2019   55,673,675            
Ending balance at Mar. 31, 2019 (185,477) $ 951 216,384 (5,438) (1,209,870) 812,496    
Beginning balance (in shares) at Dec. 31, 2018   55,679,207            
Beginning balance at Dec. 31, 2018 (183,772) $ 951 213,170 (5,446) (1,187,625) 795,178    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 180,709              
Other comprehensive income (loss) (237)              
Ending balance (in shares) at Sep. 30, 2019   55,715,777            
Ending balance at Sep. 30, 2019 (56,735) $ 951 224,979 (5,683) (1,216,169) 939,187    
Beginning balance (in shares) at Mar. 31, 2019   55,673,675            
Beginning balance at Mar. 31, 2019 (185,477) $ 951 216,384 (5,438) (1,209,870) 812,496    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 74,389         74,389    
Other comprehensive income (loss) (236)     (236)        
Share based payment activity (in shares)   151,856            
Share based payment activity 11,112   6,010   5,102      
Dividends declared ($0.215 per share) (11,962)         (11,962)    
Treasury purchases (in shares)   (129,175)            
Treasury purchases (10,486)       (10,486)      
Ending balance (in shares) at Jun. 30, 2019   55,696,356            
Ending balance at Jun. 30, 2019 (122,660) $ 951 222,394 (5,674) (1,215,254) 874,923    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 76,239         76,239    
Other comprehensive income (loss) (9)     (9)        
Other [2] (2,250)   (2,250)          
Share based payment activity (in shares)   46,116            
Share based payment activity 6,253   4,835   1,418      
Dividends declared ($0.215 per share) (11,975)         (11,975)    
Treasury purchases (in shares)   (26,695)            
Treasury purchases (2,333)       (2,333)      
Ending balance (in shares) at Sep. 30, 2019   55,715,777            
Ending balance at Sep. 30, 2019 $ (56,735) $ 951 224,979 (5,683) (1,216,169) 939,187    
Beginning balance (in shares) at Dec. 31, 2019 55,702,628 55,702,628            
Beginning balance at Dec. 31, 2019 $ (23,511) $ 951 231,160 (4,550) (1,219,905) 968,833 $ (6,831) $ (6,831)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 55,463         55,463    
Other comprehensive income (loss) (664)     (664)        
Share based payment activity (in shares)   294,826            
Share based payment activity (1,518)   (9,607)   8,089      
Dividends declared ($0.215 per share) [4] (12,721)         (12,721)    
Treasury purchases (in shares)   (657,031)            
Treasury purchases (54,072)       (54,072)      
Ending balance (in shares) at Mar. 31, 2020   55,340,423            
Ending balance at Mar. 31, 2020 $ (43,854) $ 951 221,553 (5,214) (1,265,888) 1,004,744    
Beginning balance (in shares) at Dec. 31, 2019 55,702,628 55,702,628            
Beginning balance at Dec. 31, 2019 $ (23,511) $ 951 231,160 (4,550) (1,219,905) 968,833 $ (6,831) $ (6,831)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 67,522              
Other comprehensive income (loss) $ (237)              
Treasury purchases (in shares) (548,031)              
Ending balance (in shares) at Sep. 30, 2020 55,458,248 55,458,248            
Ending balance at Sep. 30, 2020 $ (21,404) $ 951 228,521 (4,787) (1,262,724) 1,016,635    
Beginning balance (in shares) at Mar. 31, 2020   55,340,423            
Beginning balance at Mar. 31, 2020 (43,854) $ 951 221,553 (5,214) (1,265,888) 1,004,744    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (2,441)         (2,441)    
Other comprehensive income (loss) 187     187        
Share based payment activity (in shares)   29,997            
Share based payment activity 3,820   2,166   1,825 (171)    
Dividends declared ($0.215 per share) [4] 0         0    
Treasury purchases (in shares)   (6,525)            
Treasury purchases (464)       (464)      
Ending balance (in shares) at Jun. 30, 2020   55,363,895            
Ending balance at Jun. 30, 2020 (42,752) $ 951 223,719 (5,027) (1,264,527) 1,002,132    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 14,500         14,500    
Other comprehensive income (loss) 240     240        
Share based payment activity (in shares) [4]   101,857            
Share based payment activity [4] 6,608   4,802   1,803 3    
Dividends declared ($0.215 per share) [4] $ 0         0    
Treasury purchases (in shares) 0 (7,504)            
Treasury purchases $ 0       0      
Ending balance (in shares) at Sep. 30, 2020 55,458,248 55,458,248            
Ending balance at Sep. 30, 2020 $ (21,404) $ 951 $ 228,521 $ (4,787) $ (1,262,724) $ 1,016,635    
[1] Impact of adoption of Financial Accounting Standards Board ("FASB") Accounting Standards Update (“ASU”) No. 2014-09, Revenue From Contracts with Customers (Topic 606) and subsequent amendments to the initial guidance ("Topic 606") related to a foreign joint venture accounted for as an equity method investment.
[2]
(2) Impact of transaction resulting in an increase in ownership of a consolidated joint venture for the construction and operation of a Cambria Hotel.
[3] Reflects the cumulative effect of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which was adopted on January 1, 2020. Refer to Note 1 for additional details.
[4] During the fourth quarter of 2019, the Company's board of directors announced a 5% increase to the quarterly dividend rate to $0.225 per share from $0.215 per share, beginning with the dividend payable in the first quarter of 2020. On February 28, 2020, the Company’s board of directors declared a quarterly cash dividend of $0.225 per share of common stock. The dividend was payable on April 16, 2020 to shareholders of record on April 2, 2020. Subsequent to the payment of the dividend, in light of uncertainty resulting from the COVID-19 pandemic, we suspended future, undeclared dividends for at least the remainder of 2020. In the second and third quarters of 2020, dividends were paid to certain shareholders upon vesting of certain performance-based stock grants which are captured in Share based payment activity.