Extended Stay America, Inc.

Delisted

CIK 0001581164Large AcceleratedHotels & MotelsDelawareFY ends Dec 31

Period

FY 2020

Revenue

$1.04B

Net Income

$96.26M

Total Assets

$4.09B

Equity

$1.14B

Shares Out

177.73M

Op. Cash Flow

$218.75M

Business

Extended Stay America, Inc. is a former operating company in Hotels & Motels, incorporated in Delaware. Securities are no longer actively traded on a major U.S. exchange.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Revenues	1,042	1,218	1,275	1,283	1,271
Hotel operating expenses	577	582	583	586	—
General and administrative expenses	92	95	91	95	98
Depreciation and amortization	206	197	209	229	221
Impairment of long-lived assets	1	3	44	25	10
Total hotel expenses	876	878	927	935	910
GAIN ON SALE OF HOTEL PROPERTIES, NET (Note 4)	53	0	42	—	—
OTHER INCOME	8,000	32,000	669,000	3	25,000
INCOME FROM OPERATIONS	202	322	378	361	361
OTHER NON-OPERATING INCOME	−81,000	−391,000	−765,000	−399,000	−2
INTEREST EXPENSE, NET	130	128	125	130	165
INCOME BEFORE INCOME TAX (BENEFIT) EXPENSE	72	194	254	232	198
INCOME TAX (BENEFIT) EXPENSE	−25	29	42	60	34
NET INCOME	96	165	212	172	163
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS	−73	−95	−99	−93	−93
NET INCOME ATTRIBUTABLE TO EXTENDED STAY AMERICA, INC. COMMON SHAREHOLDERS	23	70	113	79	70
Basic (in dollars per share)	0.13	0.37	0.6	0.41	0.35
Diluted (in dollars per share)	0.13	0.37	0.59	0.41	0.35
Basic (in shares)	178	187	189	193	201
Diluted (in shares)	178	187	190	194	201

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
PROPERTY AND EQUIPMENT - Net of accumulated depreciation of $1,541,986 and $1,373,950	3,446	3,494	3,454	3,753	3,905
RESTRICTED CASH	13	15	16	38	22
CASH AND CASH EQUIVALENTS	397	347	287	113	84
INTANGIBLE ASSETS - Net of accumulated amortization of $15,715 and $13,133	34	34	29	27	28
GOODWILL	45	45	45	49	54
ACCOUNTS RECEIVABLE - Net of allowance for credit losses of $7,963 and $2,749	14	14	20	22	21
DEFERRED TAX ASSETS	0	16	7	8	16
OTHER ASSETS	140	66	66	66	50
TOTAL ASSETS	4,089	4,031	3,924	4,076	4,180
Term loan facility payable - Net of unamortized deferred financing costs and debt discount of $9,355 and $10,993	614	618	1,122	1,265	1,275
Senior notes payable - Net of unamortized deferred financing costs and debt discount of $29,810 and $35,702	2,020	2,014	1,274	—	—
Revolving credit facility	50	—	—	—	—
Mandatorily redeemable preferred stock - $0.01 par value, $1,000 redemption value, 8.0%, 350,000,000 shares authorized, 0 and 7,130 shares issued and outstanding	0	7	7	7	21
Finance lease liabilities	4	3	—	—	—
Deferred tax liabilities	11	0	—	—	—
Accounts payable and accrued liabilities	253	211	208	188	193
Total liabilities	2,952	2,854	2,614	2,730	2,803
COMMITMENTS AND CONTINGENCIES (Note 13)	—	—	—	—	—
Common stock - $0.01 par value, 3,500,000,000 shares authorized, 177,560,635 and 179,483,397 shares issued and outstanding	2	2	2	2	2
Additional paid in capital	726	742	749	769	775
Accumulated deficit	−45	−48	32	7	24
Accumulated other comprehensive (loss) income	−206,000	383,000	2	3	−6
Total Extended Stay America, Inc. shareholders equity	683	696	786	781	795
Noncontrolling interests	455	480	525	565	582
Total equity	1,137	1,176	1,311	1,346	1,377
TOTAL LIABILITIES AND EQUITY	4,089	4,031	3,924	4,076	4,180

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Foreign currency transaction (gain) loss	−81,000	−391,000	443,000	−700,000	−2
Amortization and write-off of deferred financing costs and debt discount	8	14	9	8	31
Amortization and write-off of above-market ground leases	0	0	−1	−136,000	−136,000
Debt modification and extinguishment costs	0	1	1	2	4
Loss on disposal of property and equipment	9	6	3	9	11
Equity-based compensation	7	7	8	8	12
Deferred income tax expense (benefit)	28	−8	1	963,000	−26
Accounts receivable, net	311,000	6	2	−895,000	−3
Other assets	−74	739,000	−10	−4	2
Accounts payable and accrued liabilities	−10	9	14	7	−1
Net cash provided by operating activities	219	400	450	447	422
Purchases of property and equipment	−118	−182	−159	−166	—
Acquisition of hotel properties	0	−10	−13	0	—
Development in process payments	−72	−60	−35	0	0
Payments for intangible assets	−2	−9	−3	0	0
Proceeds from sale of hotel properties	64	0	309	64	0
Proceeds from insurance and related recoveries	1	1	6	3	3
Net cash (used in) provided by investing activities	−128	−260	106	−99	−222
Principal payments on term loan facility	−6	−507	−147	−16	−366
Proceeds from issuance of senior notes	0	750	0	0	788
Proceeds from revolving credit facility	400	0	0	105	70
Payments on revolving credit facility	−350	0	0	−150	−25
Payments of deferred financing costs	−128,000	−21	0	0	−34
Principal payments on finance leases	−137,000	−117,000	—	—	—
Debt modification and extinguishment costs	0	−1	−1	−2	−4
Tax withholdings related to restricted stock unit settlements	−860,000	−2	−4	−4	−2
Repurchase of Corporation common stock and ESH REIT Class B common stock (Paired Shares)	−31	−131	−85	−62	−140
Repurchase of Corporation mandatorily redeemable preferred stock	−7	0	−3,000	−14	0
Corporation common distributions	−18	−67	−46	−56	−74
ESH REIT common distributions	−29	−103	−120	−103	−126
ESH REIT preferred distributions	−16,000	−16,000	−16,000	−16,000	−16,000
Net cash used in financing activities	−43	−82	−404	−302	−552
CHANGES IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH DUE TO CHANGES IN FOREIGN CURRENCY EXCHANGE RATES	−51,000	72,000	−157,000	293,000	—
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	48	58	152	45	—
Cash payments for interest, excluding modification, prepayment and other penalties, net of capitalized interest of $2,859, $2,247 and $473	124	109	119	124	118
Cash payments for income taxes, net of refunds of $547, $8 and $351	24	40	39	56	79
Operating cash payments for finance leases	249,000	242,000	—	—	—
Operating cash payments for operating leases	3	3	—	—	—
Capital Expenditures Incurred but Not yet Paid	14	23	28	13	22
Additions to finance lease right-of-use assets and liabilities	427,000	109,000	—	—	—

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