XML 29 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ (3,465) $ 94,152 $ (65,783)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 114,452 115,819 124,547
Gain on sale of hotels and other assets, net (20,250) (66,760) (19,548)
Gain on sale of investment in unconsolidated entities, net 0 (30,176) 0
Gain from remeasurement of unconsolidated entities, net 0 (20,737) 0
Amortization of deferred financing fees and debt discount 5,425 9,558 11,082
Amortization of fixed stock and directors’ compensation 7,121 6,122 5,869
Equity based severance 1,352 0 1,051
Equity in income from unconsolidated entities (7,833) (5,010) (4,586)
Distributions of income from unconsolidated entities 6,051 4,128 4,440
Debt extinguishment 30,909 5,015 0
Impairment loss 20,861 0 28,795
Changes in assets and liabilities:      
Accounts receivable (2,998) 4,875 (10,858)
Other assets 3,194 (6,975) (6,061)
Accrued expenses and other liabilities (10,210) (5,193) (487)
Net cash flow provided by operating activities 144,609 104,818 68,461
Cash flows from investing activities:      
Improvements and additions to hotels (48,436) (83,664) (101,357)
Hotel development (33,525) (86,565) (60,553)
Net proceeds from asset sales 187,949 163,618 98,820
Proceeds from unconsolidated joint venture transaction 0 4,032 0
Change in restricted cash - investing 2,794 56,731 700
Insurance proceeds 477 521 238
Distributions from unconsolidated entities in excess of earnings 7,317 12,828 9,784
Contributions to unconsolidated entities (15) (7) (1,500)
Net cash flow provided by (used in) investing activities 116,561 67,494 (53,868)
Cash flows from financing activities:      
Proceeds from borrowings 1,025,438 473,062 164,000
Repayment of borrowings (1,203,809) (623,106) (136,902)
Payment of deferred financing costs (14,952) (3,215) (2,744)
Acquisition of noncontrolling interest 0 (5,850) 0
Distributions paid to noncontrolling interests (17,595) (9,596) (4,259)
Contributions from noncontrolling interests 2,809 6,375 3,990
Distributions paid to FelCor LP limited partners (93) (42) 0
Distributions paid to preferred stockholders (32,404) (38,712) (38,713)
Redemption of preferred stock (169,986) 0 0
Repurchase of common stock (14,362) 0 0
Preferred distributions - consolidated joint venture (1,431) (1,102) 0
Distributions paid to common stockholders (22,385) (9,981) 0
Net proceeds from issuance of preferred equity - consolidated joint venture 1,744 41,442 0
Net proceeds from common stock issuance 198,648 0 0
Net cash flow used in financing activities (248,378) (170,725) (14,628)
Effect of exchange rate changes on cash (153) (85) (65)
Net change in cash and cash equivalents 12,639 1,502 (100)
Cash and cash equivalents at beginning of periods 47,147 45,645 45,745
Cash and cash equivalents at end of periods 59,786 47,147 45,645
Supplemental cash flow information — interest paid, net of capitalized interest 74,585 86,734 84,839
Income Taxes Paid 1,187 660 652
FelCor Lodging LP [Member]      
Cash flows from operating activities:      
Net income (loss) (3,465) 94,152 (65,783)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 114,452 115,819 124,547
Gain on sale of hotels and other assets, net (20,250) (66,760) (19,548)
Gain on sale of investment in unconsolidated entities, net 0 (30,176) 0
Gain from remeasurement of unconsolidated entities, net 0 (20,737) 0
Other gains, net     (41)
Amortization of deferred financing fees and debt discount 5,425 9,558 11,082
Amortization of fixed stock and directors’ compensation 7,121 6,122 5,869
Equity based severance 1,352 0 1,051
Equity in income from unconsolidated entities (7,833) (5,010) (4,586)
Distributions of income from unconsolidated entities 6,051 4,128 4,440
Debt extinguishment 30,909 5,015 0
Impairment loss 20,861 0 28,795
Changes in assets and liabilities:      
Accounts receivable (2,998) 4,875 (10,858)
Other assets 3,194 (6,975) (6,061)
Accrued expenses and other liabilities (10,210) (5,193) (487)
Net cash flow provided by operating activities 144,609 104,818 68,461
Cash flows from investing activities:      
Improvements and additions to hotels (48,436) (83,664) (101,357)
Hotel development (33,525) (86,565) (60,553)
Net proceeds from asset sales 187,949 163,618 98,820
Proceeds from unconsolidated joint venture transaction 0 4,032 0
Change in restricted cash - investing 2,794 56,731 700
Insurance proceeds 477 521 238
Distributions from unconsolidated entities in excess of earnings 7,317 12,828 9,784
Contributions to unconsolidated entities (15) (7) (1,500)
Net cash flow provided by (used in) investing activities 116,561 67,494 (53,868)
Cash flows from financing activities:      
Proceeds from borrowings 1,025,438 473,062 164,000
Repayment of borrowings (1,203,809) (623,106) (136,902)
Payment of deferred financing costs (14,952) (3,215) (2,744)
Acquisition of noncontrolling interest 0 (5,850) 0
Distributions paid to noncontrolling interests (17,595) (9,596) (4,259)
Contributions from noncontrolling interests 2,809 6,375 3,990
Distributions paid to FelCor LP limited partners (93) (42) 0
Distributions paid to preferred stockholders (32,404) (38,712) (38,713)
Redemption of preferred stock (169,986) 0 0
Repurchase of common stock (14,362) 0 0
Preferred distributions - consolidated joint venture (1,431) (1,102) 0
Distributions paid to common stockholders (22,385) (9,981) 0
Net proceeds from issuance of preferred equity - consolidated joint venture 1,744 41,442 0
Net proceeds from common unit issuance 198,648 0 0
Net cash flow used in financing activities (248,378) (170,725) (14,628)
Effect of exchange rate changes on cash (153) (85) (65)
Net change in cash and cash equivalents 12,639 1,502 (100)
Cash and cash equivalents at beginning of periods 47,147 45,645 45,745
Cash and cash equivalents at end of periods 59,786 47,147 45,645
Supplemental cash flow information — interest paid, net of capitalized interest 74,585 86,734 84,839
Income Taxes Paid $ 1,187 $ 660 $ 652