Company: DRH-PA
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001298946-25-000049
Chunk: 4

Company: DiamondRock Hospitality Co
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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$48 210,064,433 $2,100 $2,290,288 $(781)$(649,757)$1,641,898 $7,344 $1,649,242 

The accompanying notes are an integral part of these consolidated financial statements.

-4-

   DIAMONDROCK HOSPITALITY COMPANY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Three Months Ended March 31,20252024Cash flows from operating activities:  Net income$11,915 $8,358 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization27,892 28,313 Corporate asset depreciation as corporate expenses34 33 Non-cash lease expense and other amortization1,299 1,518 Amortization of debt issuance costs535 513 Amortization of deferred income related to key money(96)(108)Share-based compensation1,302 2,335 Changes in assets and liabilities:Prepaid expenses and other assets3,692 4,527 Due to/from hotel managers(12,145)(8,398)Accounts payable and accrued expenses(6,822)(5,858)Net cash provided by operating activities27,606 31,233 Cash flows from investing activities:  Capital expenditures(25,562)(18,867)Net proceeds from sale of hotel property89,019 — Net cash provided by (used in) in investing activities63,457 (18,867)Cash flows from financing activities:  Scheduled mortgage debt principal payments(2,114)(2,461)Payment of financing costs(450)— Distributions on common stock and units(48,571)(6,471)Distributions on preferred stock(2,454)(2,454)Repurchases of common stock(11,116)— Shares redeemed to satisfy tax withholdings on vested share-based compensation(4,888)(2,907)Net cash used in financing activities(69,593)(14,293)Net increase (decrease) in cash, cash equivalents, and restricted cash21,470 (1,927)Cash, cash equivalents, and restricted cash at beginning of period128,789 167,171 Cash, cash equivalents, and restricted cash at end of period$150,259 $165,244 

The accompanying notes are an integral