Company: BHR-PD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001574085-25-000051
Chunk: 84

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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 Ended March 31,20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income (loss)$10,672 $15,482 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:Depreciation and amortization23,395 25,420 Recognition of deferred income(174)— Equity-based compensation (48)1,127 Bad debt expense(15)248 Amortization of loan costs, discounts and capitalized default interest2,293 1,404 Write-off of loan costs and exit fees1,464 721 Amortization of intangibles107 119 Amortization of non-refundable membership initiation fees(623)(496)Interest expense accretion on refundable membership club deposits151 165 Realized and unrealized (gain) loss on derivatives198 (932)Non-cash interest income(151)— Equity in (earnings) loss of unconsolidated entity— 49 Deferred income tax expense (benefit)(13)5 Changes in operating assets and liabilities, exclusive of acquisitions, disposition of assets and hotel property: Accounts receivable and inventories(9,285)(2,194)Prepaid expenses and other assets(8,003)(2,327)Accounts payable and accrued expenses(6,518)564 Operating lease right-of-use assets57 147 Due to/from related parties, net645 163 Due to/from third-party hotel managers(1,676)(5,653)Due to/from Ashford Inc.(1,006)1,638 Operating lease liabilities8 (81)Other liabilities3,668 470 Net cash provided by (used in) operating activities15,146 36,039 CASH FLOWS FROM INVESTING ACTIVITIESProceeds from property insurance1,101 504 Improvements and additions to hotel properties(15,305)(23,332)Net cash provided by (used in) investing activities(14,204)(22,828)CASH FLOWS FROM FINANCING ACTIVITIESBorrowings on indebtedness363,000 62,000 Repayments of indebtedness(365,180)— Payments of loan costs and exit fees(8,852)(3,244)Payments for derivatives(508)(991)Proceeds from derivatives244 1,633 Payments for dividends and distributions(12,209)(13