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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Hotel operating revenues $ 265,068 $ 230,335 $ 490,053 $ 427,872
Rental income 73,688 78,240 146,948 157,773
FF&E reserve income 4,427 5,234 7,602 10,148
Total revenues 343,183 313,809 644,603 595,793
Expenses:        
Hotel operating expenses 193,219 152,814 343,240 282,567
Depreciation and amortization 64,277 57,630 125,640 113,944
General and administrative 11,475 10,190 21,997 19,454
Acquisition related costs 504 763 1,564 763
Loss on asset impairment   7,263 889 7,263
Total expenses 269,475 228,660 493,330 423,991
Operating income 73,708 85,149 151,273 171,802
Interest income 51 14 117 43
Interest expense (including amortization of deferred financing costs and debt discounts of $1,376, $1,508, $2,954 and $3,009, respectively) (32,714) (33,331) (66,806) (66,670)
Equity in earnings of an investee 76 46 121 83
Income before income taxes 41,121 51,878 84,705 105,258
Income tax expense (3,435) (235) (4,071) (567)
Net income 37,686 51,643 80,634 104,691
Excess of liquidation preference over carrying value of preferred shares redeemed     (2,944)  
Preferred distributions (10,722) (7,470) (21,910) (14,940)
Net income available for common shareholders 26,964 44,173 55,780 89,751
Net income 37,686 51,643 80,634 104,691
Other comprehensive income (loss):        
Unrealized gain (loss) on TravelCenters of America common shares (3,225) (3,505) 2,083 2,347
Equity interest in investee's unrealized gains (losses) (3) 39 (4) 43
Other comprehensive income (loss) (3,228) (3,466) 2,079 2,390
Comprehensive income $ 34,458 $ 48,177 $ 82,713 $ 107,081
Weighted average common shares outstanding, Basic (in shares) 123,560 123,450 123,541 123,447
Weighted average common shares outstanding, Diluted (in shares) 123,560 123,450 123,541 123,447
Basic and diluted earnings per common share:        
Net income available for common shareholders, Basic (in dollars per share) $ 0.22 $ 0.36 $ 0.45 $ 0.73
Net income available for common shareholders, Diluted (in dollars per share) $ 0.22 $ 0.36 $ 0.45 $ 0.73