Pebblebrook Hotel Trust
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
PEB$22.22+2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Pebblebrook Hotel TrustConsolidated Statements of Cash Flows(in thousands) | |||
|---|---|---|---|
| For the year ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net income (loss) | $16 | $(74,276) | $(84,981) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 229,531 | 240,645 | 239,583 |
| Benefit for deferred income taxes | (28,483) | — | — |
| Share-based compensation | 13,602 | 12,545 | 11,350 |
| Gain on insurance settlement | (24,824) | — | — |
| Amortization of deferred financing costs, non-cash interest and other amortization | 14,329 | 12,124 | 13,453 |
| Gain on sale of hotel properties | — | (30,375) | (6,194) |
| Impairment | 48,146 | 81,788 | 89,633 |
| Non-cash ground rent | 9,843 | 9,898 | 9,952 |
| Other adjustments | (5,331) | (7,801) | (4,713) |
| Changes in assets and liabilities: | |||
| Hotel receivables | 5,037 | 1,171 | (7,974) |
| Prepaid expenses and other assets | 8,889 | (11,190) | (10,018) |
| Accounts payable and accrued expenses | (14,471) | (5,860) | 24,808 |
| Deferred revenues | 18,718 | 7,528 | 3,846 |
| Net cash provided by (used in) operating activities | 275,002 | 236,197 | 278,745 |
| Investing activities: | |||
| Improvements and additions to hotel properties | (128,750) | (200,634) | (116,743) |
| Proceeds from sales of hotel properties | — | 314,941 | 248,908 |
| Acquisition of hotel properties | — | — | (247,163) |
| Property insurance proceeds | 36,802 | 30,210 | 5,638 |
| Other investing activities | (885) | (2,495) | (25) |
| Net cash provided by (used in) investing activities | (92,833) | 142,022 | (109,385) |
| Financing activities: | |||
| Payment of deferred financing costs | (22,104) | (2,710) | (12,415) |
| Borrowings under revolving credit facilities | — | 10,000 | 190,151 |
| Repayments under revolving credit facilities | — | (10,000) | (190,151) |
| Proceeds from debt | 400,000 | 140,000 | 1,380,000 |
| Repayments of debt | (465,432) | (211,088) | (1,434,956) |
| Repurchases of common shares | (16,851) | (92,753) | (70,724) |
| Redemption of preferred shares | — | (15,790) | (16,000) |
| Distributions — common shares/units | (4,866) | (4,971) | (5,291) |
| Distributions — preferred shares/units | (47,182) | (48,607) | (47,367) |
| Other financing activities | (1,784) | (928) | (2,585) |
| Net cash provided by (used in) financing activities | (158,219) | (236,847) | (209,338) |
| Net change in cash and cash equivalents and restricted cash | 23,950 | 141,372 | (39,978) |
| Cash and cash equivalents and restricted cash, beginning of year | 193,641 | 52,269 | 92,247 |
| Cash and cash equivalents and restricted cash, end of year | $217,591 | $193,641 | $52,269 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.