RLJ: the balance sheet

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Balance Sheets	2026-03-31	2025-12-31	2025-09-30
Investment in hotel properties, net	4,081,044	4,112,387	4,191,220
Investment in unconsolidated joint ventures	7,394	7,357	7,144
Cash and cash equivalents	353,084	410,160	374,827
Restricted cash reserves	34,375	31,901	29,234
Hotel and other receivables, net of allowance of 156 and 170, respectively	31,375	29,643	30,386
Lease right-of-use assets	122,429	123,524	124,640
Prepaid expense and other assets	65,531	27,158	35,704
Total assets	4,695,232	4,742,130	4,793,155

Debt, net	2,190,370	2,197,218	2,222,111
Accounts payable and other liabilities	137,071	141,568	162,207
Advance deposits and deferred revenue	51,859	51,029	40,856
Lease liabilities	118,002	118,189	118,396
Accrued interest	10,608	20,532	10,891
Distributions payable	30,516	30,934	30,645
Total liabilities	2,538,426	2,559,470	2,585,106
Preferred shares	366,936	366,936	366,936
Common shares	1,520	1,511	1,510
Additional paid-in capital	2,978,612	2,977,616	2,973,044
Distributions in excess of net earnings	-1,207,648	-1,178,456	-1,149,658
Accumulated other comprehensive income	4,574	1,919	2,892
Total shareholders equity	2,143,994	2,169,526	2,194,724
Noncontrolling interest in the operating partnership	5,548	5,696	5,854
Noncontrolling interest in consolidated joint ventures	7,264	7,438	7,471
Total noncontrolling interests	12,812	13,134	13,325
Total equity	2,156,806	2,182,660	2,208,049
Total liabilities and equity	4,695,232	4,742,130	4,793,155

Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.