Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 11

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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)$272,300 3,078 $65,426 16,142 $374,847 1,623 $40,569 $31,579 

See Notes to Condensed Consolidated Financial Statements.

BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited, in thousands)

Six Months Ended June 30,20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income (loss)$3,831 $1,695 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:Depreciation and amortization46,755 50,114 Recognition of deferred income(336)— Equity-based compensation (95)2,262 Bad debt expense8 248 (Gain) loss on extinguishment of debt— 22 Amortization of loan costs, discounts and capitalized default interest5,143 2,976 Write-off of loan costs and exit fees1,467 803 Amortization of intangibles214 238 Amortization of non-refundable membership initiation fees(1,275)(1,042)Interest expense accretion on refundable membership club deposits286 310 Realized (gain) loss on sale of securities1,250 — Realized and unrealized (gain) loss on derivatives183 (1,258)Non-cash interest income(307)— Equity in (earnings) loss of unconsolidated entity— 134 Deferred income tax expense (benefit)(47)8 Changes in operating assets and liabilities, exclusive of acquisitions, disposition of assets and hotel property: Accounts receivable and inventories(4,168)4,655 Prepaid expenses and other assets(1,258)2,921 Accounts payable and accrued expenses(13,907)(7,876)Operating lease right-of-use assets114 290 Due to/from related parties, net(419)(968)Due to/from third-party hotel managers(916)296 Due to/from Ashford Inc.(2,342)2,769 Operating lease liabilities16 (157)Other liabilities3,998 1,716 Net cash provided by (used in) operating activities38,195 60,156 CASH FLOWS FROM INVESTING ACTIVITIESProceeds