Company: PEB
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001474098-25-000119
Chunk: 53

Company: Pebblebrook Hotel Trust
Filing Date: 2025-07-29
Form: 10-Q
Item: Item 1
Chunk 53
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 liabilities, finance lease adjustment, non-cash amortization of acquired intangibles, gain on insurance settlement, early extinguishment of debt, amortization of share-based compensation expense, issuance costs of redeemed preferred shares, hurricane-related costs, non-cash interest expense and deferred tax asset provision (benefit). We believe Adjusted FFO provides useful supplemental information regarding our ongoing operating performance. 

The following table reconciles net income (loss) to FFO, FFO available to common share and unit holders and Adjusted FFO available to common share and unit holders for the three and six months ended June 30, 2025 and 2024 (in thousands):

 For the three months ended June 30,For the six months ended June 30, 2025202420252024Net income (loss)$19,285 $32,239 $(12,895)$4,719 Adjustments:Real estate depreciation and amortization57,584 57,215 115,071 114,341 FFO$76,869 $89,454 $102,176 $119,060 Distribution to preferred shareholders and unit holders(11,796)(11,796)(23,591)(23,591)FFO available to common share and unit holders$65,073 $77,658 $78,585 $95,469 Transaction costs55 40 57 44 Non-cash ground rent on operating and capital leases1,823 1,872 3,662 3,745 Management/franchise contract transition costs— — 5 44 Interest expense adjustment for acquired liabilities237 368 561 631 Finance lease adjustment758 747 1,513 1,492 Non-cash amortization of acquired intangibles(465)(481)(937)(963)Early extinguishment of debt— — — 1,534 Amortization of share-based compensation expense3,522 3,523 6,741 6,583 Hurricane-related costs— 33 — 183 Deferred tax provision (benefit)6,439 — 3,334 — Unrealized loss on investment— — 2,662 — Adjusted FFO available to common share and unit holders$77,442 $83,760 $96,183 $108,762 

EBITDA is defined as earnings before interest, income taxes,