FelCor LP's Consolidating Financial Information | FelCor LP’s Consolidating Financial Information Certain of FelCor LP’s 100% owned subsidiaries (FCH/PSH, L.P.; FelCor/CMB Buckhead Hotel, L.L.C.; FelCor/CMB Marlborough Hotel, L.L.C.; FelCor/CMB Orsouth Holdings, L.P.; FelCor/CMB SSF Holdings, L.P.; FelCor/CSS Holdings, L.P.; FelCor Dallas Love Field Owner, L.L.C.; FelCor Milpitas Owner, L.L.C.; FelCor TRS Borrower 4, L.L.C.; FelCor TRS Holdings, L.L.C.; FelCor Canada Co.; FelCor Hotel Asset Company, L.L.C.; FelCor St. Pete (SPE), L.L.C.; FelCor Esmeralda (SPE), L.L.C.; FelCor S-4 Hotels (SPE), L.L.C.; Madison 237 Hotel, L.L.C.; Myrtle Beach Owner, L.L.C.; and Royalton 44 Hotel, L.L.C., collectively, “Subsidiary Guarantors”), together with FelCor, guaranty, fully and unconditionally, except where subject to customary release provisions as described below, and jointly and severally, our senior debt. The guaranties by the Subsidiary Guarantors may be automatically and unconditionally released upon (i) the sale or other disposition of all of the capital stock of the Subsidiary Guarantor or the sale or disposition of all or substantially all of the assets of the Subsidiary Guarantor, if, in each case, as a result of such sale or disposition, such Subsidiary Guarantor ceases to be a subsidiary of FelCor LP, (ii) the consolidation or merger of any such Subsidiary Guarantor with any person other than FelCor LP, or a subsidiary of FelCor LP, if, as a result of such consolidation or merger, such Subsidiary Guarantor ceases to be a subsidiary of FelCor LP, (iii) a legal defeasance or covenant defeasance of the indenture, (iv) the unconditional and complete release of such Subsidiary Guarantor in accordance with the modification and waiver provisions of the indenture, or (v) the designation of a restricted subsidiary that is a Subsidiary Guarantor as an unrestricted subsidiary under and in compliance with the indenture. 17. FelCor LP’s Consolidating Financial Information — (continued) The following tables present consolidating information for the Subsidiary Guarantors. FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING BALANCE SHEET September 30, 2015 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Net investment in hotels $ — $ 621,978 $ 1,072,088 $ — $ 1,694,066 Hotel development — — 48,655 — 48,655 Equity investment in consolidated entities 1,292,813 — — (1,292,813 ) — Investment in unconsolidated entities 4,544 5,118 1,276 — 10,938 Cash and cash equivalents 18,453 36,464 1,994 — 56,911 Restricted cash — 14,163 10,538 — 24,701 Accounts receivable, net 440 33,459 3,186 — 37,085 Deferred expenses, net 16,163 — 9,077 — 25,240 Other assets 4,512 8,615 3,447 — 16,574 Total assets $ 1,336,925 $ 719,797 $ 1,150,261 $ (1,292,813 ) $ 1,914,170 Debt $ 1,000,000 $ — $ 458,068 $ (39,436 ) $ 1,418,632 Distributions payable 12,331 — 119 — 12,450 Accrued expenses and other liabilities 26,103 88,390 17,828 — 132,321 Total liabilities 1,038,434 88,390 476,015 (39,436 ) 1,563,403 Redeemable units, at redemption value 4,323 — — — 4,323 Preferred units 309,337 — — — 309,337 Common units (15,169 ) 632,039 621,338 (1,253,377 ) (15,169 ) Total FelCor LP partners’ capital 294,168 632,039 621,338 (1,253,377 ) 294,168 Noncontrolling interests — (632 ) 9,722 — 9,090 Preferred capital in consolidated joint venture — — 43,186 — 43,186 Total partners’ capital 294,168 631,407 674,246 (1,253,377 ) 346,444 Total liabilities and partners’ capital $ 1,336,925 $ 719,797 $ 1,150,261 $ (1,292,813 ) $ 1,914,170 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Net investment in hotels $ — $ 757,694 $ 842,097 $ — $ 1,599,791 Hotel development — — 297,466 — 297,466 Equity investment in consolidated entities 1,364,470 — — (1,364,470 ) — Investment in unconsolidated entities 7,270 6,514 1,311 — 15,095 Hotels held for sale — — 47,145 — 47,145 Cash and cash equivalents 5,717 32,923 8,507 — 47,147 Restricted cash — 12,199 8,297 — 20,496 Accounts receivable, net 963 26,343 499 — 27,805 Deferred expenses, net 17,203 — 8,624 — 25,827 Other assets 4,866 11,510 7,510 — 23,886 Total assets $ 1,400,489 $ 847,183 $ 1,221,456 $ (1,364,470 ) $ 2,104,658 Debt $ 1,050,000 $ — $ 576,654 $ (40,787 ) $ 1,585,867 Distributions payable 13,709 — 118 — 13,827 Accrued expenses and other liabilities 27,174 93,690 14,617 — 135,481 Total liabilities 1,090,883 93,690 591,389 (40,787 ) 1,735,175 Redeemable units, at redemption value 6,616 — — — 6,616 Preferred units 478,749 — — — 478,749 Common units (175,759 ) 753,646 570,037 (1,323,683 ) (175,759 ) Total FelCor LP partners’ capital 302,990 753,646 570,037 (1,323,683 ) 302,990 Noncontrolling interests — (153 ) 18,588 — 18,435 Preferred capital in consolidated joint venture — — 41,442 — 41,442 Total partners’ capital 302,990 753,493 630,067 (1,323,683 ) 362,867 Total liabilities and partners’ capital $ 1,400,489 $ 847,183 $ 1,221,456 $ (1,364,470 ) $ 2,104,658 . FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended September 30, 2015 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Revenues: Hotel operating revenue $ — $ 223,474 $ — $ — $ 223,474 Percentage lease revenue — — 44,523 (44,523 ) — Other revenue 3 1,497 178 — 1,678 Total revenues 3 224,971 44,701 (44,523 ) 225,152 Expenses: Hotel operating expenses — 143,545 — — 143,545 Taxes, insurance and lease expense 533 53,272 3,434 (44,523 ) 12,716 Corporate expenses — 2,718 1,954 — 4,672 Depreciation and amortization 49 11,876 17,063 — 28,988 Impairment loss — 20,861 — — 20,861 Other expenses 3,626 1,311 870 — 5,807 Total operating expenses 4,208 233,583 23,321 (44,523 ) 216,589 Operating income (4,205 ) (8,612 ) 21,380 — 8,563 Interest expense, net (14,302 ) 3 (5,303 ) — (19,602 ) Debt extinguishment (13 ) — — — (13 ) Loss before equity in income from unconsolidated entities (18,520 ) (8,609 ) 16,077 — (11,052 ) Equity in income from consolidated entities 10,069 — — (10,069 ) — Equity in income from unconsolidated entities 417 (85 ) (11 ) — 321 Loss from continuing operations before income tax expense (8,034 ) (8,694 ) 16,066 (10,069 ) (10,731 ) Income tax expense (194 ) (860 ) — — (1,054 ) Loss from continuing operations (8,228 ) (9,554 ) 16,066 (10,069 ) (11,785 ) Income from discontinued operations — (2 ) 500 — 498 Loss before gain on sale of hotels (8,228 ) (9,556 ) 16,566 (10,069 ) (11,287 ) Gain on sale of hotels, net (41 ) (31 ) 3,226 — 3,154 Net loss (8,269 ) (9,587 ) 19,792 (10,069 ) (8,133 ) Loss attributable to noncontrolling interests — 81 146 — 227 Preferred distributions - consolidated joint venture — — (363 ) — (363 ) Net loss attributable to FelCor LP (8,269 ) (9,506 ) 19,575 (10,069 ) (8,269 ) Preferred distributions (6,279 ) — — — (6,279 ) Net loss attributable to FelCor LP common unitholders $ (14,548 ) $ (9,506 ) $ 19,575 $ (10,069 ) $ (14,548 ) 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Three Months Ended September 30, 2014 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Revenues: Hotel operating revenue $ — $ 232,449 $ — $ — $ 232,449 Percentage lease revenue 2,537 — 36,131 (38,668 ) — Other revenue 3 1,425 179 — 1,607 Total revenues 2,540 233,874 36,310 (38,668 ) 234,056 Expenses: Hotel operating expenses — 151,804 — — 151,804 Taxes, insurance and lease expense 492 52,036 5,193 (38,668 ) 19,053 Corporate expenses 152 3,801 2,489 — 6,442 Depreciation and amortization 694 14,075 13,754 — 28,523 Other expenses 84 7,116 2,546 — 9,746 Total operating expenses 1,422 228,832 23,982 (38,668 ) 215,568 Operating income 1,118 5,042 12,328 — 18,488 Interest expense, net (16,850 ) (126 ) (4,946 ) — (21,922 ) Debt extinguishment (3,816 ) — (914 ) — (4,730 ) Gain on sale of investment in unconsolidated entities, net 30,184 — — — 30,184 Gain from remeasurement of unconsolidated entities, net 20,733 — — — 20,733 Income before equity in income from unconsolidated entities 31,369 4,916 6,468 — 42,753 Equity in income from consolidated entities 40,734 — — (40,734 ) — Equity in income from unconsolidated entities 1,099 259 (11 ) — 1,347 Income from continuing operations before income tax expense 73,202 5,175 6,457 (40,734 ) 44,100 Income tax expense (14 ) (64 ) — — (78 ) Income from continuing operations 73,188 5,111 6,457 (40,734 ) 44,022 Loss from discontinued operations — (8 ) — — (8 ) Income before gain on sale of hotels 73,188 5,103 6,457 (40,734 ) 44,014 Gain on sale of hotels, net (612 ) 22,176 7,992 — 29,556 Net income 72,576 27,279 14,449 (40,734 ) 73,570 Income attributable to noncontrolling interests — 217 (863 ) — (646 ) Preferred distributions - consolidated joint venture — — (348 ) — (348 ) Net income attributable to FelCor LP 72,576 27,496 13,238 (40,734 ) 72,576 Preferred distributions (9,678 ) — — — (9,678 ) Net income attributable to FelCor LP common unitholders $ 62,898 $ 27,496 $ 13,238 $ (40,734 ) $ 62,898 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Nine Months Ended September 30, 2015 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Revenues: Hotel operating revenue $ — $ 672,808 $ — $ — $ 672,808 Percentage lease revenue — — 130,397 (130,397 ) — Other revenue 111 6,645 386 — 7,142 Total revenues 111 679,453 130,783 (130,397 ) 679,950 Expenses: Hotel operating expenses — 434,206 — — 434,206 Taxes, insurance and lease expense 422 159,103 14,805 (130,397 ) 43,933 Corporate expenses — 11,010 8,765 — 19,775 Depreciation and amortization 138 37,770 47,602 — 85,510 Impairment loss — 20,861 — — 20,861 Other expenses 3,629 6,820 997 — 11,446 Total operating expenses 4,189 669,770 72,169 (130,397 ) 615,731 Operating income (4,078 ) 9,683 58,614 — 64,219 Interest expense, net (42,613 ) 8 (16,756 ) — (59,361 ) Debt extinguishment (28,459 ) — (2,450 ) — (30,909 ) Other gains, net — — 166 — 166 Loss before equity in income from unconsolidated entities (75,150 ) 9,691 39,574 — (25,885 ) Equity in income from consolidated entities 62,807 — — (62,807 ) — Equity in income from unconsolidated entities 8,060 (43 ) (34 ) — 7,983 Loss from continuing operations before income tax expense (4,283 ) 9,648 39,540 (62,807 ) (17,902 ) Income tax expense (256 ) (1,136 ) — — (1,392 ) Loss from continuing operations (4,539 ) 8,512 39,540 (62,807 ) (19,294 ) Income from discontinued operations — 2 417 — 419 Loss before gain on sale of hotels (4,539 ) 8,514 39,957 (62,807 ) (18,875 ) Gain on sale of hotels, net (320 ) (44 ) 19,855 — 19,491 Net income (4,859 ) 8,470 59,812 (62,807 ) 616 Income attributable to noncontrolling interests — 591 (4,996 ) — (4,405 ) Preferred distributions - consolidated joint venture — — (1,070 ) — (1,070 ) Net loss attributable to FelCor LP (4,859 ) 9,061 53,746 (62,807 ) (4,859 ) Preferred distributions (23,860 ) — — — (23,860 ) Redemption of preferred units (6,096 ) — — — (6,096 ) Net loss attributable to FelCor LP common unitholders $ (34,815 ) $ 9,061 $ 53,746 $ (62,807 ) $ (34,815 ) 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Nine Months Ended September 30, 2014 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Revenues: Hotel operating revenue $ — $ 711,750 $ — $ — $ 711,750 Percentage lease revenue 5,846 — 100,719 (106,565 ) — Other revenue 4 2,774 392 — 3,170 Total revenues 5,850 714,524 101,111 (106,565 ) 714,920 Expenses: Hotel operating expenses — 468,618 — — 468,618 Taxes, insurance and lease expense 1,287 160,081 14,473 (106,565 ) 69,276 Corporate expenses 423 12,944 8,547 — 21,914 Depreciation and amortization 2,678 43,332 41,196 — 87,206 Other expenses 119 8,745 5,010 — 13,874 Total operating expenses 4,507 693,720 69,226 (106,565 ) 660,888 Operating income 1,343 20,804 31,885 — 54,032 Interest expense, net (57,634 ) (760 ) (13,250 ) — (71,644 ) Debt extinguishment (3,816 ) — (947 ) — (4,763 ) Gain on sale of investment in unconsolidated entities, net 30,184 — — — 30,184 Gain from remeasurement of unconsolidated entities, net 20,733 — — — 20,733 Other gains, net — 100 — — 100 Income before equity in income from unconsolidated entities (9,190 ) 20,144 17,688 — 28,642 Equity in income from consolidated entities 88,114 — — (88,114 ) — Equity in income from unconsolidated entities 4,213 577 (34 ) — 4,756 Income from continuing operations 83,137 20,721 17,654 (88,114 ) 33,398 Income tax expense (88 ) (392 ) — — (480 ) Income from continuing operations 83,049 20,329 17,654 (88,114 ) 32,918 Income from discontinued operations — 26 106 — 132 Income before gain on sale of hotels 83,049 20,355 17,760 (88,114 ) 33,050 Gain on sale of hotels, net (1,060 ) 22,147 29,552 — 50,639 Net income 81,989 42,502 47,312 (88,114 ) 83,689 Income attributable to noncontrolling interests — 238 (1,068 ) — (830 ) Preferred distributions - consolidated joint venture — — (870 ) — (870 ) Net income attributable to FelCor LP 81,989 42,740 45,374 (88,114 ) 81,989 Preferred distributions (29,034 ) — — — (29,034 ) Net income attributable to FelCor LP common unitholders $ 52,955 $ 42,740 $ 45,374 $ (88,114 ) $ 52,955 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS For the Three Months Ended September 30, 2015 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Net loss $ (8,269 ) $ (9,587 ) $ 19,792 $ (10,069 ) $ (8,133 ) Foreign currency translation adjustment — — — — — Comprehensive loss (8,269 ) (9,587 ) 19,792 (10,069 ) (8,133 ) Comprehensive loss attributable to noncontrolling interests — 81 146 — 227 Preferred distributions - consolidated joint venture — — (363 ) — (363 ) Comprehensive loss attributable to FelCor LP $ (8,269 ) $ (9,506 ) $ 19,575 $ (10,069 ) $ (8,269 ) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Three Months Ended September 30, 2014 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Net income $ 72,576 $ 27,279 $ 14,449 $ (40,734 ) $ 73,570 Foreign currency translation adjustment (445 ) (103 ) (342 ) 445 (445 ) Reclassification of foreign currency translation to gain (24,553 ) (4,448 ) (20,105 ) 24,553 (24,553 ) Comprehensive income 47,578 22,728 (5,998 ) (15,736 ) 48,572 Comprehensive income attributable to noncontrolling interests — 217 (863 ) — (646 ) Preferred distributions - consolidated joint venture — — (348 ) — (348 ) Comprehensive income attributable to FelCor LP $ 47,578 $ 22,945 $ (7,209 ) $ (15,736 ) $ 47,578 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS For the Nine Months Ended September 30, 2015 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Net income $ (4,859 ) $ 8,470 $ 59,812 $ (62,807 ) $ 616 Foreign currency translation adjustment — — — — — Comprehensive income (4,859 ) 8,470 59,812 (62,807 ) 616 Comprehensive income attributable to noncontrolling interests — 591 (4,996 ) — (4,405 ) Preferred distributions - consolidated joint venture — — (1,070 ) — (1,070 ) Comprehensive loss attributable to FelCor LP $ (4,859 ) $ 9,061 $ 53,746 $ (62,807 ) $ (4,859 ) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Nine Months Ended September 30, 2014 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Net income $ 81,989 $ 42,502 $ 47,312 $ (88,114 ) $ 83,689 Foreign currency translation adjustment (490 ) (121 ) (369 ) 490 (490 ) Reclassification of foreign currency translation to gain (24,553 ) (4,448 ) (20,105 ) 24,553 (24,553 ) Comprehensive income 56,946 37,933 26,838 (63,071 ) 58,646 Comprehensive income attributable to noncontrolling interests — 238 (1,068 ) — (830 ) Preferred distributions - consolidated joint venture — — (870 ) — (870 ) Comprehensive income attributable to FelCor LP $ 56,946 $ 38,171 $ 24,900 $ (63,071 ) $ 56,946 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2015 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Operating activities: Cash flows from operating activities $ (40,101 ) $ 59,884 $ 94,271 $ — $ 114,054 Investing activities: Improvements and additions to hotels (13 ) (21,664 ) (14,302 ) — (35,979 ) Hotel development — — (31,599 ) — (31,599 ) Net proceeds from asset sales (429 ) 10 190,454 — 190,035 Insurance proceeds 274 — — — 274 Change in restricted cash - investing — (1,964 ) (2,240 ) — (4,204 ) Distributions from unconsolidated entities 6,460 — — — 6,460 Intercompany financing 139,524 — — (139,524 ) — Cash flows from investing activities 145,816 (23,618 ) 142,313 (139,524 ) 124,987 Financing activities: Proceeds from borrowings 475,000 — 504,000 — 979,000 Repayment of borrowings (545,453 ) — (621,240 ) — (1,166,693 ) Payment of deferred financing fees (8,500 ) — (5,848 ) — (14,348 ) Distributions paid to noncontrolling interests — (401 ) (15,893 ) — (16,294 ) Contributions from noncontrolling interests — 513 2,031 — 2,544 Redemption of preferred units (169,986 ) — — — (169,986 ) Distributions paid to preferred unitholders (26,125 ) — — — (26,125 ) Distributions paid to common unitholders (16,498 ) — — — (16,498 ) Net proceeds from issuance of preferred capital - consolidated joint venture — — 1,744 — 1,744 Net proceeds from common stock issuance 198,651 — — — 198,651 Intercompany financing — (32,703 ) (106,821 ) 139,524 — Other (68 ) — (1,070 ) — (1,138 ) Cash flows from financing activities (92,979 ) (32,591 ) (243,097 ) 139,524 (229,143 ) Effect of exchange rate changes on cash — (134 ) — — (134 ) Change in cash and cash equivalents 12,736 3,541 (6,513 ) — 9,764 Cash and cash equivalents at beginning of period 5,717 32,923 8,507 — 47,147 Cash and cash equivalents at end of period $ 18,453 $ 36,464 $ 1,994 $ — $ 56,911 17. FelCor LP’s Consolidating Financial Information — (continued) FELCOR LODGING LIMITED PARTNERSHIP CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Nine Months Ended September 30, 2014 (in thousands) FelCor LP Subsidiary Guarantors Non-Guarantor Subsidiaries Eliminations Total Consolidated Operating activities: Cash flows from operating activities $ (50,911 ) $ 71,441 $ 67,135 $ — $ 87,665 Investing activities: Improvements and additions to hotels (409 ) (36,685 ) (28,453 ) — (65,547 ) Hotel development — — (63,381 ) — (63,381 ) Net proceeds from asset sales (1,091 ) 13,998 107,084 — 119,991 Proceeds from unconsolidated joint venture transaction 3,154 — 878 — 4,032 Insurance proceeds — 255 — — 255 Change in restricted cash - investing — (1,783 ) 44,747 — 42,964 Distributions from unconsolidated entities 6,052 4,606 — — 10,658 Intercompany financing 328,666 — — (328,666 ) — Cash flows from investing activities 336,372 (19,609 ) 60,875 (328,666 ) 48,972 Financing activities: Proceeds from borrowings — — 439,607 — 439,607 Repayment of borrowings (236,738 ) — (317,129 ) — (553,867 ) Payment of deferred financing fees (4 ) — (3,048 ) — (3,052 ) Acquisition of noncontrolling interest — — (5,850 ) — (5,850 ) Distributions paid to preferred unitholders (29,034 ) — — — (29,034 ) Distributions paid to common unitholders (7,453 ) — — — (7,453 ) Distributions paid to noncontrolling interests — (684 ) (7,950 ) — (8,634 ) Contributions from noncontrolling interests — 901 4,607 — 5,508 Net proceeds from issuance of preferred capital- consolidated joint venture — — 41,443 — 41,443 Intercompany financing — (46,510 ) (282,156 ) 328,666 — Other (31 ) — (757 ) — (788 ) Cash flows from financing activities (273,260 ) (46,293 ) (131,233 ) 328,666 (122,120 ) Effect of exchange rate changes on cash — (52 ) — — (52 ) Change in cash and cash equivalents 12,201 5,487 (3,223 ) — 14,465 Cash and cash equivalents at beginning of period 5,227 33,283 7,135 — 45,645 Cash and cash equivalents at end of period $ 17,428 $ 38,770 $ 3,912 $ — $ 60,110 |