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SEC Filings

10-K
RLJ LODGING TRUST filed this Form 10-K on 03/01/2019
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The following table is a reconciliation of our GAAP net income to FFO attributable to common shareholders and unitholders and Adjusted FFO attributable to common shareholders and unitholders for the years ended December 31, 2018, 2017 and 2016 (in thousands):
 
For the year ended December 31,
 
2018
 
2017
 
2016
Net income
$
190,862

 
$
75,739

 
$
201,314

Preferred dividends
(25,115
)
 
(8,372
)
 

Preferred distributions - consolidated joint venture
(1,483
)
 
(496
)
 

Depreciation and amortization
241,641

 
186,993

 
162,500

Gain on sale of hotel properties, net
(30,941
)
 
(8,980
)
 
(45,929
)
Noncontrolling interest in consolidated joint ventures
(17
)
 
(117
)
 
(55
)
Adjustments related to consolidated joint ventures (1)
(307
)
 
(193
)
 
(152
)
Adjustments related to unconsolidated joint ventures (2)
2,644

 
900

 

FFO
377,284

 
245,474

 
317,678

Transaction costs
2,057

 
44,398

 
192

Gain on extinguishment of indebtedness, net
(5,996
)
 

 

Gain on settlement of an investment in loan

 
(2,670
)
 

Amortization of share-based compensation
12,251

 
10,607

 
5,990

Non-cash income tax expense
6,584

 
39,747

 
7,001

Other expenses (3)
3,558

 
1,591

 
1,851

Adjusted FFO
$
395,738

 
$
339,147

 
$
332,712


(1)
Includes depreciation and amortization expense allocated to the noncontrolling interest in the consolidated joint ventures.
(2)
Includes our ownership interest of the depreciation and amortization expense of the unconsolidated joint ventures.
(3)
Represents income and expenses outside of the normal course of operations, including debt modification costs, debt extinguishment costs, the accelerated amortization of deferred financing costs, hurricane-related costs that were not reimbursed by insurance, executive transition costs, receipts of prior year employee tax credits and activist shareholder costs.

53

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