Carey Watermark Investors Inc [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/A
Revenues:
Food and beverage				118.8	68.1	22.4	2.7
Rooms				379.2	249.0	89.4	8.9
Other operating revenue				44.1	31.0	10.4
Other							1.5
Total revenues [+]	613.9	629.1	651.1	542.1	348.1	122.2	13.0	0.0
Food & beverage				118.8	68.1	22.4	2.7
Hotels							13.0
Room / occupancy				379.2	249.0	89.4	8.9
Other hotel				44.1	31.0	10.4	1.4
Revenue growth [+]	-2.4%	-3.4%	20.1%	55.7%	184.8%	837.6%
Food and beverage				74.5%	204.1%	738.3%
Rooms				52.3%	178.5%	903.8%
Other operating revenue				42.4%	196.9%
Cost of goods sold [+]	82.4	84.7	87.7	286.5	157.2	51.0	6.2	1.8
Food and beverage costs				86.7	50.7	16.6	2.2
Direct hotel costs				467.7	295.8	101.5	11.5
Occupancy costs				82.8	64.5	22.1	2.5
Maintenance and operations costs	19.9	20.6	20.9	19.3
Other direct hotel costs				24.8	17.2	6.0	0.8
Real estate taxes and insurance	62.6	64.1	66.8	54.6	24.9	6.3	0.7
Gross profit	531.4	544.5	563.4	255.6	190.8	71.2	6.9	-1.8
Gross margin	86.6%	86.5%	86.5%	47.2%	54.8%	58.3%	52.7%
Selling, general and administrative [+]	122.8	127.5	129.2	113.2	72.2	28.2	5.6
Sales and marketing	57.8	60.7	62.6	54.0	32.4	11.5	1.2
General and administrative	65.0	66.8	66.6	59.2	39.8	16.7	4.4	0.0
Equity in earnings	-1.3	22.2	5.2	2.4	-0.7	-0.1	1.6	1.1
Other operating expenses	244.5	279.5	286.8	22.9	39.1	14.1	2.1	-0.5
EBITDA [+]	165.9	162.6	154.1	122.5	80.5	29.8	0.9
EBITDA growth	2.0%	5.5%	25.8%	52.1%	170.0%	3195.2%	-545.8%	-31.9%
EBITDA margin	27.0%	25.9%	23.7%	22.6%	23.1%	24.4%	6.9%
Depreciation	78.5	83.1	80.5	68.7	47.2	17.9	1.4
EBITA	87.4	79.5	73.6	53.8	33.3	11.9	-0.5	-0.2
EBITA margin	14.2%	12.6%	11.3%	9.9%	9.6%	9.8%	-4.2%
Amortization of intangibles	1.7	1.7	1.7	1.4	0.9	0.2	0.1
EBIT [+]	85.7	77.8	71.9	52.4	32.4	11.7	-0.6	-0.2
EBIT growth	10.1%	8.3%	37.3%	61.7%	176.3%	-1920.2%	217.2%	-31.9%
EBIT margin	14.0%	12.4%	11.0%	9.7%	9.3%	9.6%	-4.9%
Non-recurring items [+]	-1.3	7.0	7.8	26.0	25.9	26.9	5.5	0.5
Asset impairment			4.1	6.1
Unusual expense	-1.3	7.0
Interest expense	66.6	67.0	65.2	54.5	36.4	14.0	1.2	0.0
Interest expense	66.6	67.0	65.2	54.5	36.4	14.0	1.2	0.0
Other income (expense), net [+]	0.2	-0.1	-2.2	4.3	0.0	0.0	3.9
Gain (loss) on debt retirement	-0.5	-0.2	-2.3	1.8
Other	0.7	0.1	0.0	2.4	0.0	0.0	0.1
Pre-tax income	20.6	3.7	-3.3	-23.9	-29.9	-29.2	-3.5	-0.7
Income taxes	4.9	0.0	3.7	6.8	3.8	1.2	0.3	0.0
Tax rate	23.7%							0.0%
Minority interest	7.7	-1.2	1.8	-4.9	-1.0	1.5	1.1
Earnings from continuing ops	8.1	4.9	-8.8	-25.7	-26.6	-31.9	-5.0	-0.7
Earnings from discontinued ops					-6.2
Net income	8.1	4.9	-8.8	-25.7	-32.7	-31.9	-5.0	-0.7
Net margin	1.3%	0.8%	-1.3%	-4.7%	-9.4%	-26.1%	-38.1%

Basic EPS [+]	$0.06	$0.04	($0.07)	($0.20)	($0.31)	($0.66)	($0.28)	($0.06)
Growth	60.8%	-155.3%	-66.8%	-37.2%	-52.7%	138.7%	344.5%	-95.7%
Diluted EPS [+]	$0.06	$0.04	($0.07)	($0.20)	($0.31)	($0.66)	($0.28)	($0.06)
Growth	60.8%	-155.3%	-66.8%	-37.2%	-52.7%	138.7%	344.5%	-95.7%

Dividends per share [+]	$0.57	$0.57	$0.57	$0.56	$0.55	$0.59	$0.55	$0.40
Growth	0.0%	0.0%	1.8%	1.8%	-6.4%	6.8%	37.5%

Shares outstanding (basic) [+]	139.4	137.1	134.6	131.3	85.1	48.3	17.9	11.4
Growth	1.7%	1.8%	2.6%	54.2%	76.1%	169.4%	56.8%	5423.3%
Shares outstanding (diluted) [+]	139.4	137.1	134.6	131.3	85.1	48.3	17.9	11.4
Growth	1.7%	1.8%	2.6%	54.2%	76.1%	169.4%	56.8%	5423.3%

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