ASHFORD HOSPITALITY TRUST, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-179.8M | $-60.3M | $-178.5M | $-139.8M | $-267.0M | $-543.9M | $-113.6M | $-127.0M |
| Depreciation & Amortization | $141.3M | $152.8M | $187.8M | $201.8M | $218.9M | $252.8M | $269.0M | $258.5M |
| Depreciation | $141.0M | $152.5M | $187.4M | $201.4M | $218.5M | $252.4M | $268.4M | $257.9M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $-761.0K | $2.1M | $4.0M | $6.0M | $10.0M | $10.7M | $19.7M | $26.9M |
| Net Cash from Operating Activities | $-15.7M | $-23.6M | $14.4M | $39.2M | $-144.2M | $-149.5M | $177.2M | $181.6M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | $0 | $0 | $1.1M | $212.6M | $162.6M |
| Net Cash from Investing Activities | $190.8M | $191.3M | $-89.8M | $-70.3M | $-34.0M | $-7.6M | $-253.2M | $-329.6M |
| Financing Activities | ||||||||
| Dividends Paid | $24.0M | $20.4M | $14.9M | $12.4M | $18.6M | $28.6M | $86.2M | $97.4M |
| Stock Repurchases | $44.0K | $49.0K | $90.0K | $316.0K | $46.0K | $399.0K | $1.0M | $1.6M |
| Net Cash from Financing Activities | $-179.2M | $-258.8M | $-172.1M | $-101.5M | $702.6M | $-73.8M | $34.4M | $115.8M |
| Net Change in Cash | $-4.1M | $-91.1M | $-247.5M | $-132.6M | $524.3M | $-230.9M | $-41.6M | $-32.3M |
| Free Cash Flow | — | — | — | — | — | — | — | — |