Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 149

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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566 Dividends and distributions payable8,627 8,627 9,255 9,255 Due to Ashford Inc., net2,767 2,767 4,267 4,267 Due to related parties, net636 636 1,055 1,055 Due to third-party hotel managers 1,919 1,919 1,476 1,476 Cash, cash equivalents and restricted cash. These financial assets have maturities of less than 90 days and most bear interest at market rates. The carrying value approximates fair value due to their short-term nature. This is considered a Level 1 valuation technique.Accounts receivable, net, due to/from related parties, net, accounts payable and accrued expenses, dividends and distributions payable, due to Ashford Inc and due to/from third-party hotel managers. The carrying values of these financial instruments approximate their fair values due to the short-term nature of these financial instruments. This is considered a Level 1 valuation technique.Investment in securities. See note 8 for a complete description of the methodology and assumptions utilized in determining fair values.Note receivable. The carrying amount of note receivable approximates its fair value. This is considered a Level 2 valuation technique.Derivative assets. See note 8 for a complete description of the methodology and assumptions utilized in determining fair values.Indebtedness, net. Fair value of indebtedness is determined using the loan terms, collateral value and financial data such as loan-to-value ratios, debt service coverage ratios, and interest rates for comparable loans. We estimated the fair value of the total indebtedness to be approximately 100.1% of the carrying value of $1.2 billion as of June 30, 2025, and approximately 98.8% of the carrying value of $1.2 billion as of December 31, 2024. These fair value estimates are considered a Level 2 valuation technique.

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BRAEMAR HOTELS & RESORTS INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (continued)(unaudited)

10. Income (Loss) Per Share

The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per share amounts):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income (loss) attributable to common