ASHFORD HOSPITALITY TRUST INC (AHT) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Total revenues [+]	1,240.9	805.4	508.2	1,502.8	1,430.8	1,439.3	1,492.0	1,337.0
Food & beverage								227.1
Hotels								1,334.8
Room / occupancy								1,059.0
Other hotel								48.7
Other								2.2
Revenue growth	54.1%	58.5%	-66.2%	5.0%	-0.6%	-3.5%	11.6%	68.2%
Cost of goods sold [+]	953.2	697.0	564.4	1,100.4	900.6	907.3	938.4	790.9
Food and beverage costs								153.3
Direct hotel costs								840.2
Occupancy costs								231.6
Other direct hotel costs								405.9
Gross profit	287.6	108.4	-56.2	402.3	530.2	532.0	553.6	546.1
Gross margin	23.2%	13.5%	-11.0%	26.8%	37.1%	37.0%	37.1%	40.8%
Selling, general and administrative [+]	9.9	16.2	28.0	11.1	10.9	13.3	8.4	14.3
General and administrative	9.9	16.2	28.0	11.1	10.9	13.3	8.4	14.3
Equity in earnings	-0.8	-0.6	-0.4	-2.3	0.9	-5.9	-6.1	-6.8
Other operating expenses	-0.3	-1.4	36.7	-26.1	146.6	112.1	96.2	183.5
EBITDA [+]	277.2	93.1	-121.3	414.8	373.3	400.4	442.8	341.3
EBITDA growth	197.7%	-176.8%	-129.3%	11.1%	-6.8%	-9.6%	29.7%	79.3%
EBITDA margin	22.3%	11.6%	-23.9%	27.6%	26.1%	27.8%	29.7%	25.5%
Depreciation and amortization	201.8	218.9	252.8	268.7	258.2	246.5	243.7	210.2
EBIT [+]	75.5	-125.7	-374.1	146.1	115.1	153.9	199.1	131.1
EBIT growth	-160.0%	-66.4%	-356.1%	26.9%	-25.2%	-22.7%	51.9%	65.1%
EBIT margin	6.1%	-15.6%	-73.6%	9.7%	8.0%	10.7%	13.3%	9.8%
Non-recurring items [+]			91.7	33.6	23.8	10.8	17.9
Asset impairment			91.7	33.6	23.4	10.2	17.8
Interest expense, net [+]	222.2	155.9	246.7	258.9	232.8	220.4	223.6	187.4
Interest expense	227.0	156.1	247.4	262.0	236.8	222.6	224.0	187.5
Interest income	4.8	0.2	0.7	3.1	4.0	2.2	0.3	0.1
Other income (expense), net [+]	12.0	16.5	78.0	5.1	-12.0	-13.7	-14.8	366.9
Gain (loss) on sale of assets	0.3	1.4	-36.7	26.1	0.5	14.0	31.6	380.8
Gain (loss) on debt retirement	-3.5	11.9	90.3	-2.8	-8.8	-2.8	-12.7	-5.8
Unrealized gain/loss on derivatives	15.2	14.5	20.0	-4.5	-2.2	-2.8	-2.5	-7.4
Write-off of deferred debt issuance costs	-3.5	-10.6	-13.9	-2.8	-8.8	-2.8	-12.7	-5.8
Other	0.4	0.8	-17.0	10.5	0.1	-3.4	-4.5	-0.9
Pre-tax income	-134.7	-265.1	-634.6	-141.5	-153.5	-91.0	-57.3	310.5
Income taxes	6.3	5.9	-1.3	1.2	2.8	-2.2	1.5	4.7
Tax rate			0.2%			2.4%		1.5%
Minority interest					29.3	21.6	0.0	0.0
Net income	-153.2	-267.9	-520.5	-156.2	-169.5	-122.6	-88.7	237.0
Net margin	-12.3%	-33.3%	-102.4%	-10.4%	-11.8%	-8.5%	-5.9%	17.7%

Basic EPS [+]	($4.46)	($12.39)	($330.28)	($156.53)	($1.74)	($1.29)	($0.94)	$2.46
Growth	-64.0%	-96.2%	111.0%	8881.2%	35.4%	37.1%	-138.2%	-429.8%
Diluted EPS [+]	($4.46)	($4.10)	($330.28)	($156.53)	($1.74)	($1.29)	($0.94)	$2.06
Growth	8.8%	-98.8%	111.0%	8881.2%	35.4%	37.1%	-145.5%	-376.4%

Dividends per share [+]				$30.00				$0.48
Growth			-100.0%				-100.0%	0.0%

Shares outstanding (basic) [+]	34.3	21.6	1.6	1.0	97.3	95.2	94.4	96.3
Growth	58.8%	1272.1%	57.9%	-99.0%	2.2%	0.8%	-1.9%	9.9%
Shares outstanding (diluted) [+]	34.3	65.3	1.6	1.0	97.3	95.2	94.4	114.9
Growth	-47.4%	4044.2%	57.9%	-99.0%	2.2%	0.8%	-17.8%	31.1%

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