Company: BHR-PD
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001574085-25-000092
Chunk: 207

Company: Braemar Hotels & Resorts Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 207
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 generated from operating activities as determined by GAAP and should not be considered as an alternative to GAAP net income or loss as an indication of our financial performance or GAAP cash flows from operating activities as a measure of our liquidity. FFO and Adjusted FFO are also not indicative of funds available to satisfy our cash needs, including our ability to make cash distributions. However, to facilitate a clear understanding of our historical operating results, we believe that FFO and Adjusted FFO should be considered along with our net income or loss and cash flows reported in our condensed consolidated financial statements.

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The following table reconciles net income (loss) to FFO and Adjusted FFO (in thousands) (unaudited):

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income (loss)$(6,841)$(13,787)$3,831 $1,695 (Income) loss attributable to noncontrolling interest in consolidated entities(115)303 (51)1,046 Net (Income) loss attributable to redeemable noncontrolling interests in operating partnership1,489 1,919 1,751 1,623 Preferred dividends(8,992)(10,329)(18,261)(20,736)Deemed dividends on preferred stock(1,559)(26)(5,835)(2,024)Net income (loss) attributable to common stockholders(16,018)(21,920)(18,565)(18,396)Depreciation and amortization on real estate (1)22,690 23,696 45,366 47,876 Net income (loss) attributable to redeemable noncontrolling interests in operating partnership(1,489)(1,919)(1,751)(1,623)Equity in (earnings) loss of unconsolidated entity— 85 — 134 Company’s portion of FFO of OpenKey— (95)— (162)FFO available to common stockholders and OP unitholders5,183 (153)25,050 27,829 Deemed dividends on preferred stock1,559 26 5,835 2,024 Transaction and conversion costs (2)471 53 1,166 (5,574)Write-off of premiums, loan costs and exit fees3 82 1,467 803 Unrealized (gain) loss on derivatives