Company: PEB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001474098-25-000039
Chunk: 55

Company: Pebblebrook Hotel Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 15
Chunk 55
---
 of capital0.1938 18.13 %— — %— — %Total$1.0688 100.00 %$1.4250 100.00 %$1.7812 100.00 %The common and preferred distributions declared on December 15, 2021 and paid on January 18, 2022 were treated as 2022 distributions for tax purposes. The common and preferred distributions declared on December 15, 2022 and paid on January 17, 2023 were treated as 2022 distributions for tax purposes.The common and preferred distributions declared on December 15, 2023 and paid on January 16, 2024 were treated as 2023 distributions for tax purposes.The common and preferred distributions declared on December 15, 2024 and paid on January 15, 2025 will be treated as 2025 distributions for tax purposes.

F-29

Table of Contents

The Company's provision (benefit) for income taxes consists of the following (in thousands):For the year ended December 31,202420232022Current:Federal$1,197 $237 $253 State and local1,658 418 24 Total current provision$2,855 $655 $277 Deferred:Federal(25,280)— — State and local(3,203)— — Total deferred provision (benefit)$(28,483)$— $— Income tax expense (benefit)$(25,628)$655 $277 A reconciliation of the statutory federal tax expense (benefit) to the Company's income tax expense (benefit) is as follows (in thousands):For the year ended December 31,202420232022Statutory federal tax expense (benefit)$(5,379)$16,808 $17,906 State income tax expense (benefit), net of federal tax expense (benefit)(1,829)409 4 REIT income not subject to tax9,800 (16,536)(17,402)Change in valuation allowance(28,368)973 (495)Other148 (999)264 Income tax expense (benefit), net$(25,628)$655 $277 The significant components of the Company's deferred tax assets as of December 31, 2024 and 2023 consisted of