Chesapeake Lodging Trust (CHSP) [Rocket]

In millions, except per share items	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Food and beverage				117.2	94.3	86.9	57.7	37.8
Rooms				441.1	364.7	316.4	210.3	128.7
Other				24.3	18.9	16.9	10.3	5.7
Total revenues [+]	597.2	598.3	619.7	582.6	478.0	420.2	278.3	172.2
Food & beverage				117.2	94.3	86.9	57.7	37.8
Hotels					478.0	420.2	278.3	172.2
Room / occupancy				441.1	364.7	316.4	210.3	128.7
Other hotel				24.3	18.9	16.9	10.3	5.7
Revenue growth [+]	-0.2%	-3.5%	6.4%	21.9%	13.8%	51.0%	61.6%	217.7%
Food and beverage				24.2%	8.5%	50.6%	52.7%	174.6%
Rooms				21.0%	15.3%	50.5%	63.3%	234.1%
Other				28.3%	12.4%	63.1%	82.0%	198.0%
Cost of goods sold [+]	370.7	389.7	415.3	429.6	324.9	285.0	185.8	116.1
Food and beverage costs				87.6	71.8	65.1	41.7	27.7
Direct hotel costs				391.5
Occupancy costs				100.2	84.4	73.7	48.2	30.1
Other cost of sales					160.6	138.1	90.9	55.6
Other direct hotel costs				7.1	8.0	8.0	5.1	2.8
Other direct costs				196.5	160.6	138.1	90.9	55.6
Gross profit	226.5	208.5	204.4	153.0	153.1	135.2	92.4	56.1
Gross margin	37.9%	34.9%	33.0%	26.3%	32.0%	32.2%	33.2%	32.6%
Selling, general and administrative [+]	19.0	19.1	19.2	65.2	15.6	13.1	11.3	10.0
General and administrative	19.0	19.1	19.2	65.2	15.6	13.1	11.3	10.0
Other operating expenses	-33.1	-6.1	-0.6	-84.8	-6.5	0.5	0.5	0.5
EBITDA [+]	240.6	195.6	185.8	172.6	144.0	121.6	80.6	45.5
EBITDA growth	23.0%	5.3%	7.7%	19.8%	18.5%	50.8%	77.0%	386.8%
EBITDA margin	40.3%	32.7%	30.0%	29.6%	30.1%	28.9%	29.0%	26.5%
Depreciation and amortization	75.6	76.2	74.7	69.7	51.6	44.5	28.9	18.4
EBIT [+]	165.0	119.4	111.1	102.8	92.5	77.1	51.7	27.2
EBIT growth	38.2%	7.4%	8.1%	11.2%	19.9%	49.2%	90.3%	495.2%
EBIT margin	27.6%	20.0%	17.9%	17.6%	19.3%	18.3%	18.6%	15.8%
Non-recurring items [+]	33.1	6.1	0.6	0.9	10.6	4.2	3.0	5.1
Loss (gain) on sale of assets	33.1	6.1	0.6		7.0
Interest expense, net [+]	34.4	33.9	31.8	31.9	27.3	25.5	20.8	12.7
Interest expense	34.4	33.9	31.8	31.9	27.4	25.8	21.0	12.9
Interest income					0.0	0.2	0.2	0.1
Other income (expense), net [+]	0.6				7.0	-0.4		-0.2
Acquisition-related costs					3.6
Gain (loss) on debt retirement						-0.4		-0.2
Pre-tax income	98.1	79.3	78.7	70.1	61.5	47.0	27.9	9.2
Income taxes	1.1	3.1	2.0	2.6	0.5	1.7	0.7	0.1
Tax rate	1.1%	3.9%	2.5%	3.7%	0.9%	3.5%	2.6%	1.3%
Net income	97.0	66.5	67.0	57.8	51.3	35.6	22.8	9.0
Net margin	16.2%	11.1%	10.8%	9.9%	10.7%	8.5%	8.2%	5.2%

Basic EPS [+]	$1.64	$1.13	$1.14	$1.01	$1.02	$0.75	$0.67	$0.31
Growth	45.5%	-1.2%	13.5%	-0.9%	34.8%	12.7%	117.6%	-612.1%
Diluted EPS [+]	$1.63	$1.12	$1.14	$1.00	$1.01	$0.75	$0.67	$0.31
Growth	45.4%	-1.6%	14.3%	-0.9%	33.7%	12.7%	117.6%	-612.1%

Dividends per share [+]	$1.61	$1.62	$1.61	$1.41	$1.17	$0.94	$0.86	$0.78
Growth	-1.1%	1.0%	14.0%	21.0%	23.9%	9.4%	10.3%	370.5%

Shares outstanding (basic) [+]	59.1	59.0	58.7	57.5	50.5	47.3	34.0	29.4
Growth	0.2%	0.5%	2.2%	13.8%	6.8%	38.9%	15.8%	161.8%
Shares outstanding (diluted) [+]	59.4	59.3	58.7	57.9	50.9	47.3	34.0	29.4
Growth	0.2%	0.9%	1.4%	13.8%	7.6%	38.9%	15.8%	161.8%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.