10-Q Filing

ASHFORD INC. CIK: 1604738 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001604738-15-000029`
Period End Date	20150331
Filing Date	20150515
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	ainc-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 66 Stockholders Equity 23

Balance Sheet 66 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$600.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$3.34M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$5.93M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssets`	$1.36M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssets`	$1.41M	USD	Point-in-time
Due from Ashford Trust OP, net	`DuefromAshfordTrustOPnet`	$8.20M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Due from Ashford Trust OP, net	`DuefromAshfordTrustOPnet`	$9.19M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Due from Ashford Prime OP	`DuefromAshfordPrimeOP`	$2.83M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.99M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	1.99M	shares	Point-in-time
Due from Ashford Prime OP	`DuefromAshfordPrimeOP`	$2.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$44.28M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	1.99M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	1.99M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$45.04M	USD	Point-in-time
Furniture, fixtures and equipment, net	`PropertyPlantAndEquipmentNet`	$4.19M	USD	Point-in-time
Furniture, fixtures and equipment, net	`PropertyPlantAndEquipmentNet`	$4.53M	USD	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	482.00	shares	Point-in-time
Treasury stock (in shares)	`TreasuryStockShares`	0.00	shares	Point-in-time
Total assets	`Assets`	$48.80M	USD	Point-in-time
Total assets	`Assets`	$49.23M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$6.18M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$9.31M	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$1.31M	USD	Point-in-time
Due to affiliates	`DueToRelatedPartiesCurrent`	$483.00K	USD	Point-in-time
Deferred compensation plan	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$221.00K	USD	Point-in-time
Deferred compensation plan	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$175.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$5.93M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesCurrent`	$3.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$14.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.82M	USD	Point-in-time
Deferred compensation plan	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	$24.99M	USD	Point-in-time
Deferred compensation plan	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	$19.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$33.91M	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable noncontrolling interests in Ashford LLC	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$424.00K	USD	Point-in-time
Redeemable noncontrolling interests in Ashford LLC	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$535.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized, 1,986,851 shares issued and 1,986,369 and 1,986,851 shares outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000,000 shares authorized, 1,986,851 shares issued and 1,986,369 and 1,986,851 shares outstanding at March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$20.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$229.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$228.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-213.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-217.93M	USD	Point-in-time
Treasury stock, at cost, 482 shares at March 31, 2015	`TreasuryStockValue`	$64.00K	USD	Point-in-time
Treasury stock, at cost, 482 shares at March 31, 2015	`TreasuryStockValue`	-	USD	Point-in-time
Total stockholders equity of the Company	`StockholdersEquity`	$14.98M	USD	Point-in-time
Total stockholders equity of the Company	`StockholdersEquity`	$11.31M	USD	Point-in-time
Noncontrolling interests in consolidated entities	`MinorityInterest`	$-850.00K	USD	Point-in-time
Noncontrolling interests in consolidated entities	`MinorityInterest`	$-87.00K	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.46M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.89M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$49.23M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$48.80M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Advisory services	`InvestmentAdvisoryManagementAndAdministrativeFees`	$2.31M	USD	1 Quarter
Advisory services	`InvestmentAdvisoryManagementAndAdministrativeFees`	$12.92M	USD	1 Quarter
Other	`OtherSalesRevenueNet`	$195.00K	USD	1 Quarter
Other	`OtherSalesRevenueNet`	-	USD	1 Quarter
Total revenue	`Revenues`	$13.12M	USD	1 Quarter
Total revenue	`Revenues`	$2.31M	USD	1 Quarter
Salaries and benefits	`LaborAndRelatedExpense`	$17.49M	USD	1 Quarter
Salaries and benefits	`LaborAndRelatedExpense`	$10.11M	USD	1 Quarter
Depreciation	`Depreciation`	$87.00K	USD	1 Quarter
Depreciation	`Depreciation`	$129.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$913.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.88M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$21.50M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$11.11M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.80M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-8.38M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$1.45M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-9.84M	USD	1 Quarter
Net loss	`ProfitLoss`	$-8.81M	USD	1 Quarter
Loss from consolidated entities attributable to noncontrolling interests	`IncomeLossAttributableToNoncontrollingInterest`	$-763.00K	USD	1 Quarter
Loss from consolidated entities attributable to noncontrolling interests	`IncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss attributable to redeemable noncontrolling interests in Ashford LLC	`TemporaryEquityNetIncome`	-	USD	1 Quarter
Net loss attributable to redeemable noncontrolling interests in Ashford LLC	`TemporaryEquityNetIncome`	$21.00K	USD	1 Quarter
Net loss attributable to the Company	`NetIncomeLoss`	$-8.81M	USD	1 Quarter
Net loss attributable to the Company	`NetIncomeLoss`	$-9.05M	USD	1 Quarter
Comprehensive loss attributable to the Company	`ComprehensiveIncomeNetOfTax`	$-9.05M	USD	1 Quarter
Comprehensive loss attributable to the Company	`ComprehensiveIncomeNetOfTax`	$-8.81M	USD	1 Quarter
Loss attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-4.57	USD	1 Quarter
Loss attributable to common stockholders - basic and diluted	`EarningsPerShareBasicAndDiluted`	$-4.45	USD	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.98M	shares	1 Quarter
Weighted average common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	1.98M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-9.84M	USD	1 Quarter
Net loss	`ProfitLoss`	$-8.81M	USD	1 Quarter
Depreciation	`Depreciation`	$87.00K	USD	1 Quarter
Depreciation	`Depreciation`	$129.00K	USD	1 Quarter
Straight-line rent amortization	`OtherDepreciationAndAmortization`	-	USD	1 Quarter
Straight-line rent amortization	`OtherDepreciationAndAmortization`	$16.00K	USD	1 Quarter
Non-cash deferred compensation expense	`DeferredCompensationArrangementWithIndividualCompensationExpense`	$5.26M	USD	1 Quarter
Non-cash deferred compensation expense	`DeferredCompensationArrangementWithIndividualCompensationExpense`	-	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$4.53M	USD	1 Quarter
Equity-based compensation	`ShareBasedCompensation`	$5.25M	USD	1 Quarter
Excess tax benefit on equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	-	USD	1 Quarter
Excess tax benefit on equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$853.00K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	-	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCashForOperatingActivities`	$2.60M	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-75.00K	USD	1 Quarter
Prepaid expenses and other	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$699.00K	USD	1 Quarter
Due from Ashford Trust OP, net	`IncreasedecreaseinduefromAshfordTrustOPnet`	-	USD	1 Quarter
Due from Ashford Trust OP, net	`IncreasedecreaseinduefromAshfordTrustOPnet`	$336.00K	USD	1 Quarter
Due from Ashford Prime OP	`IncreasedecreaseinduefromAshfordPrimeOP`	$1.25M	USD	1 Quarter
Due from Ashford Prime OP	`IncreasedecreaseinduefromAshfordPrimeOP`	$283.00K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.34M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.32M	USD	1 Quarter
Due to affiliates	`IncreaseDecreaseInDueToRelatedParties`	$244.00K	USD	1 Quarter
Due to affiliates	`IncreaseDecreaseInDueToRelatedParties`	$-448.00K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$2.60M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.14M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.49M	USD	1 Quarter
Additions to furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$475.00K	USD	1 Quarter
Additions to furniture, fixtures and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$807.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-807.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-475.00K	USD	1 Quarter
Excess tax benefit on equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Excess tax benefit on equity-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$853.00K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$64.00K	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Employee advances	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$523.00K	USD	1 Quarter
Employee advances	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	-	USD	1 Quarter
Contributions from owner	`ProceedsFromContributionsFromParent`	$10.96M	USD	1 Quarter
Contributions from owner	`ProceedsFromContributionsFromParent`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$10.96M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$266.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$998.00K	USD	1 Quarter
Net change in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.68M	USD	1 Quarter
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$600.00K	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$29.60M	USD	Point-in-time
Cash at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$24.92M	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$600.00K	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$29.60M	USD	Point-in-time
Cash at end of year	`CashAndCashEquivalentsAtCarryingValue`	$1.60M	USD	Point-in-time
Interest paid	`InterestPaid`	-	USD	1 Quarter
Interest paid	`InterestPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$534.00K	USD	1 Quarter
Non-cash contributions associated with non-cash compensation	`ContributionForNonCashCompensation`	$4.53M	USD	1 Quarter
Non-cash contributions associated with non-cash compensation	`ContributionForNonCashCompensation`	-	USD	1 Quarter
Non-cash dividends associated with deferred compensation plan	`ContributionforDividends`	-	USD	1 Quarter
Non-cash dividends associated with deferred compensation plan	`ContributionforDividends`	$183.00K	USD	1 Quarter
Non-cash contributions associated with deferred compensation plan	`ContributionforDeferredCompensationPlan`	$180.00K	USD	1 Quarter
Non-cash contributions associated with deferred compensation plan	`ContributionforDeferredCompensationPlan`	-	USD	1 Quarter
Non-cash dividends declared but not paid	`Dividendsdeclaredbutnotpaid`	-	USD	1 Quarter
Non-cash dividends declared but not paid	`Dividendsdeclaredbutnotpaid`	$183.00K	USD	1 Quarter
Capital expenditures accrued but not paid	`CapitalExpendituresIncurredButNotYetPaid`	$189.00K	USD	1 Quarter
Capital expenditures accrued but not paid	`CapitalExpendituresIncurredButNotYetPaid`	$387.00K	USD	1 Quarter

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.46M	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.89M	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$424.00K	USD	Point-in-time
Beginning balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$535.00K	USD	Point-in-time
Purchase of treasury stock, value	`TreasuryStockValueAcquiredCostMethod`	$64.00K	USD	1 Quarter
Equity-based compensation	`AllocatedShareBasedCompensationExpense`	$5.25M	USD	1 Quarter
Equity-based compensation	`AllocatedShareBasedCompensationExpense`	$4.53M	USD	1 Quarter
Excess tax benefit on stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$853.00K	USD	1 Quarter
Employee advances	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$523.00K	USD	1 Quarter
Redemption value adjustment	`MinorityInterestChangeInRedemptionValue`	$-132.00K	USD	1 Quarter
Redemption value adjustment	`TemporaryEquityOtherChanges`	$501.00K	USD	2 Qtrs
Redemption value adjustment	`TemporaryEquityOtherChanges`	$369.00K	USD	1 Quarter
Net loss attributable to the Company	`NetIncomeLoss`	$-8.81M	USD	1 Quarter
Net loss attributable to the Company	`NetIncomeLoss`	$-9.05M	USD	1 Quarter
Loss from consolidated entities attributable to noncontrolling interests	`IncomeLossAttributableToNoncontrollingInterest`	$-763.00K	USD	1 Quarter
Loss from consolidated entities attributable to noncontrolling interests	`IncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss excluding redeemable noncontrolling interests	`NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss`	$-9.82M	USD	1 Quarter
Net loss attributable to redeemable noncontrolling interests in Ashford LLC	`TemporaryEquityNetIncome`	-	USD	1 Quarter
Net loss attributable to redeemable noncontrolling interests in Ashford LLC	`TemporaryEquityNetIncome`	$21.00K	USD	1 Quarter
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.46M	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.89M	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$424.00K	USD	Point-in-time
Ending balance	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$535.00K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.