($ in millions, except per share and operating metrics)

Second Quarter

Earnings Metrics

2012

2011

% Change

Net (loss)/income attributable to common shareholders

$(3.0)

$39.5

N/A

Net (loss)/income per diluted share

$(0.01)

$0.22

N/A

Comparable funds from operations (Comparable FFO) ^(a)

$21.4

$8.8

143.1%

Comparable FFO per diluted share ^(a)

$0.11

$0.05

120.0%

Comparable EBITDA ^(a)

$50.9

$42.5

19.8%

Total United States Portfolio Operating Metrics ^(b)

Average Daily Rate (ADR)

$257.16

$241.93

6.3%

Occupancy

75.1%

73.3%

1.8 pts

Revenue per Available Room (RevPAR)

$193.19

$177.41

8.9%

Total RevPAR

$368.20

$344.22

7.0%

EBITDA Margins

25.6%

24.0%

160 bps

North American Same Store Operating Metrics ^(c)

ADR

$253.70

$239.77

5.8%

Occupancy

76.5%

74.0%

2.5 pts

RevPAR

$194.11

$177.35

9.5%

Total RevPAR

$360.28

$333.34

8.1%

EBITDA Margins

25.2%

23.4%

180 bps

(a)

Please refer to tables provided later in this press release for a reconciliation of net (loss)/income to Comparable FFO, Comparable FFO per share and Comparable EBITDA. Comparable FFO, Comparable FFO per share and Comparable EBITDA are non-GAAP measures and are further explained with the reconciliation tables.

(b)

Operating statistics reflect results from the Company's Total United States portfolio (see portfolio definitions later in this press release).

(c)

Operating statistics reflect results from the Company's North American same store portfolio (see portfolio definitions later in this press release).

Low Range

High Range

Net Loss Attributable to Common Shareholders

$(81.4)

$(66.4)

Depreciation and Amortization

112.0

112.0

Interest Expense

82.6

82.6

Income Taxes

0.9

0.9

Non-controlling Interests

(0.3)

(0.3)

Adjustments from Consolidated Affiliates

(5.8)

(5.8)

Adjustments from Unconsolidated Affiliates

28.0

28.0

Preferred Shareholder Dividends

24.2

24.2

Realized Portion of Deferred Gain on Sale Leasebacks

(0.2)

(0.2)

Adjustment for Value Creation Plan

4.8

4.8

Other Adjustments

0.2

0.2

Comparable EBITDA

$165.0

$180.0

Low Range

High Range

Net Loss Attributable to Common Shareholders

$(81.4)

$(66.4)

Depreciation and Amortization

110.8

110.8

Realized Portion of Deferred Gain on Sale Leasebacks

(0.2)

(0.2)

Non-controlling Interests

(0.3)

(0.2)

Adjustments from Consolidated Affiliates

(2.8)

(2.8)

Adjustments from Unconsolidated Affiliates

15.4

15.4

Adjustment for Value Creation Plan

4.8

4.8

Other Adjustments

(2.5)

(2.5)

Comparable FFO

$43.8

$58.9

Comparable FFO per Diluted Share

$0.21

$0.29

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Consolidated Statements of Operations

(in thousands, except per share data)

Three Months Ended

Six Months Ended

June 30,

June 30,

2012

2011

2012

2011

Revenues:

Rooms

$ 110,132

$ 108,812

$ 204,642

$ 200,282

Food and beverage

71,931

74,441

134,410

137,323

Other hotel operating revenue

18,173

19,948

38,298

39,921

Lease revenue

1,165

1,277

2,330

2,492

Total revenues

201,401

204,478

379,680

380,018

Operating Costs and Expenses:

Rooms

29,983

29,818

58,559

56,445

Food and beverage

48,317

50,658

95,710

96,665

Other departmental expenses

51,084

53,825

100,649

104,498

Management fees

6,214

6,550

11,830

12,324

Other hotel expenses

12,763

13,467

26,372

26,825

Lease expense

1,143

1,257

2,311

2,453

Depreciation and amortization

25,277

30,091

50,767

60,696

Corporate expenses

2,866

11,957

16,676

26,434

Total operating costs and expenses

177,647

197,623

362,874

386,340

Operating income (loss)

23,754

6,855

16,806

(6,322)

Interest expense

(19,080)

(25,762)

(38,685)

(45,310)

Interest income

50

51

80

83

Loss on early extinguishment of debt

-

(838)

-

(838)

Loss on early termination of derivative financial instruments

-

(29,242)

-

(29,242)

Equity in (losses) earnings of unconsolidated affiliates

(717)

(2,799)

203

(4,399)

Foreign currency exchange (loss) gain

(168)

147

(173)

286

Other income, net

477

436

929

4,361

Income (loss) before income taxes and discontinued operations

4,316

(51,152)

(20,840)

(81,381)

Income tax (expense) benefit

(350)

(1,060)

(815)

588

Income (loss) from continuing operations

3,966

(52,212)

(21,655)

(80,793)

(Loss) income from discontinued operations, net of tax

(535)

101,034

(535)

101,196

Net income (loss)

3,431

48,822

(22,190)

20,403

Net (income) loss attributable to the noncontrolling interests in SHR's operating partnership

(8)

(224)

109

(86)

Net income attributable to the noncontrolling interests in consolidated affiliates

(379)

(1,338)

(350)

(743)

Net income (loss) attributable to SHR

3,044

47,260

(22,431)

19,574

Preferred shareholder dividends

(6,042)

(7,722)

(12,083)

(15,443)

Net (loss) income attributable to SHR common shareholders

$ (2,998)

$ 39,538

$ (34,514)

$ 4,131

Basic and Diluted (Loss) Income Per Share:

Loss from continuing operations attributable to SHR common shareholders

$ (0.01)

$ (0.35)

$ (0.18)

$ (0.58)

(Loss) income from discontinued operations attributable to SHR common shareholders

-

0.57

-

0.60

Net (loss) income attributable to SHR common shareholders

$ (0.01)

$ 0.22

$ (0.18)

$ 0.02

Weighted average common shares outstanding

202,021

176,141

194,979

166,820

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Consolidated Balance Sheets

(in thousands, except share data)

June 30,

December 31,

2012

2011

Assets

Investment in hotel properties, net

$ 1,661,252

$ 1,692,431

Goodwill

40,359

40,359

Intangible assets, net of accumulated amortization of $9,754 and $8,915

30,147

30,635

Investment in unconsolidated affiliates

119,354

126,034

Cash and cash equivalents

76,180

72,013

Restricted cash and cash equivalents

46,243

39,498

Accounts receivable, net of allowance for doubtful accounts of $1,547 and $1,698

54,135

43,597

Deferred financing costs, net of accumulated amortization of $5,309 and $3,488

9,044

10,845

Deferred tax assets

1,964

2,230

Prepaid expenses and other assets

40,864

29,047

Total assets

$ 2,079,542

$ 2,086,689

Liabilities, Noncontrolling Interests and Equity

Liabilities:

Mortgages and other debt payable

$ 995,817

$ 1,000,385

Bank credit facility

50,000

50,000

Accounts payable and accrued expenses

228,936

249,179

Distributions payable

-

72,499

Deferred tax liabilities

47,509

47,623

Total liabilities

1,322,262

1,419,686

Noncontrolling interests in SHR's operating partnership

5,513

4,583

Equity:

SHR's shareholders' equity:

8.50% Series A Cumulative Redeemable Preferred Stock ($0.01

par value per share; 4,148,141 shares issued and outstanding;

liquidation preference $25.00 per share plus accrued distributions

and $103,704 and $130,148 in the aggregate)

99,995

99,995

8.25% Series B Cumulative Redeemable Preferred Stock ($0.01

par value per share; 3,615,375 shares issued and outstanding;

liquidation preference $25.00 per share plus accrued distributions

and $90,384 and $112,775 in the aggregate)

87,064

87,064

8.25% Series C Cumulative Redeemable Preferred Stock ($0.01

par value per share; 3,827,727 shares issued and outstanding;

liquidation preference $25.00 per share plus accrued distributions

and $95,693 and $119,377 in the aggregate)

92,489

92,489

Common shares ($0.01 par value per share; 350,000,000 and

250,000,000 common shares authorized; 204,308,710 and

185,627,199 common shares issued and outstanding)

2,043

1,856

Additional paid-in capital

1,738,416

1,634,067

Accumulated deficit

(1,213,052)

(1,190,621)

Accumulated other comprehensive loss

(62,853)

(70,652)

Total SHR's shareholders' equity

744,102

654,198

Noncontrolling interests in consolidated affiliates

7,665

8,222

Total equity

751,767

662,420

Total liabilities, noncontrolling interests and equity

$ 2,079,542

$ 2,086,689

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

FINANCIAL HIGHLIGHTS

Supplemental Financial Data

(in thousands, except per share information)

June 30, 2012

Pro Rata Share

Consolidated

Capitalization

Common shares outstanding

204,309

204,309

Operating partnership units outstanding

853

853

Restricted stock units outstanding

1,357

1,357

Value Creation Plan units outstanding under the deferral program

1,239

1,239

Combined shares and units outstanding

207,758

207,758

Common stock price at end of period

$ 6.46

$ 6.46

Common equity capitalization

$ 1,342,117

$ 1,342,117

Preferred equity capitalization (at $25.00 face value)

289,102

289,102

Consolidated debt

1,045,817

1,045,817

Pro rata share of unconsolidated debt

212,275

-

Pro rata share of consolidated debt

(45,548)

-

Cash and cash equivalents

(76,180)

(76,180)

Total enterprise value

$ 2,767,583

$ 2,600,856

Net Debt / Total Enterprise Value

41.1%

37.3%

Preferred Equity / Total Enterprise Value

10.4%

11.1%

Common Equity / Total Enterprise Value

48.5%

51.6%

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Discontinued Operations

The results of operations of hotels sold are classified as discontinued operations and segregated in the consolidated statements of operations for all periods presented. The following hotel was sold during 2011 (in thousands):

Hotel

Date Sold

Net Sales Proceeds

Paris Marriott Champs Elysees (Paris Marriott)

April 6, 2011

$ 60,003

The following is a summary of (loss) income from discontinued operations for the three and six months ended June 30, 2012 and 2011 (in thousands):

Three Months Ended

Six Months Ended

June 30,

June 30,

2012

2011

2012

2011

Hotel operating revenues

$ -

$ 938

$ -

$ 9,743

Operating costs and expenses

-

828

-

9,510

Operating income

-

110

-

233

Foreign currency exchange (loss) gain

(535)

(7)

(535)

51

Other income, net

-

-

-

326

Income tax expense

-

(20)

-

(379)

Gain on sale

-

100,951

-

100,965

(Loss) income from discontinued operations

$ (535)

$ 101,034

$ (535)

$ 101,196

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Investments in the Hotel del Coronado and Fairmont Scottsdale Princess Hotel

(in thousands)

On January 9, 2006, we purchased a 45% interest in the unconsolidated affiliate that owns the Hotel del Coronado. On February 4, 2011, we completed a recapitalization of the unconsolidated affiliate. As part of the recapitalization, a new unconsolidated affiliate was formed to own the Hotel del Coronado and to invest cash in the asset. Pursuant to the terms of the recapitalization, we became a limited partner in the new unconsolidated affiliate, and our ownership interest in the Hotel del Coronado decreased from 45% to 34.3%. On June 9, 2011, we completed a recapitalization of the Fairmont Scottsdale Princess hotel. As part of the recapitalization, our ownership interest in the Fairmont Scottsdale Princess hotel decreased from 100% to 50%. We account for these investments using the equity method of accounting.

Three Months Ended

Three Months Ended

June 30, 2012

June 30, 2011

Fairmont

Fairmont

Hotel del

Scottsdale

Hotel del

Scottsdale

Coronado

Princess

Total

Coronado

Princess

Total

Total revenues (100%)

$ 34,511

$ 19,145

$ 53,656

$ 33,685

$ 2,109

$ 35,794

Property EBITDA (100%)

$ 10,743

$ 3,251

$ 13,994

$ 10,455

$ (744)

$ 9,711

Equity in losses of unconsolidated affiliates (SHR ownership)

Property EBITDA

$ 3,685

$ 1,626

$ 5,311

$ 3,586

$ (372)

$ 3,214

Depreciation and amortization

(1,698)

(1,776)

(3,474)

(1,663)

(451)

(2,114)

Interest expense

(2,504)

(195)

(2,699)

(2,429)

(50)

(2,479)

Other expenses, net

(20)

19

(1)

(725)

(544)

(1,269)

Income taxes

100

-

100

102

-

102

Equity in losses of unconsolidated affiliates

$ (437)

$ (326)

$ (763)

$ (1,129)

$ (1,417)

$ (2,546)

EBITDA Contribution:

Equity in losses of unconsolidated affiliates

$ (437)

$ (326)

$ (763)

$ (1,129)

$ (1,417)

$ (2,546)

Depreciation and amortization

1,698

1,776

3,474

1,663

451

2,114

Interest expense

2,504

195

2,699

2,429

50

2,479

Income taxes

(100)

-

(100)

(102)

-

(102)

EBITDA Contribution

$ 3,665

$ 1,645

$ 5,310

$ 2,861

$ (916)

$ 1,945

FFO Contribution:

Equity in losses of unconsolidated affiliates

$ (437)

$ (326)

$ (763)

$ (1,129)

$ (1,417)

$ (2,546)

Depreciation and amortization

1,698

1,776

3,474

1,663

451

2,114

FFO Contribution

$ 1,261

$ 1,450

$ 2,711

$ 534

$ (966)

$ (432)

Six Months Ended

Six Months Ended

June 30, 2012

June 30, 2011

Fairmont

Fairmont

Hotel del

Scottsdale

Hotel del

Scottsdale

Coronado

Princess

Total

Coronado

Princess

Total

Total revenues (100%)

$ 65,354

$ 46,128

$ 111,482

$ 62,987

$ 2,109

$ 65,096

Property EBITDA (100%)

$ 18,961

$ 11,906

$ 30,867

$ 17,753

$ (744)

$ 17,009

Equity in (losses) earnings of unconsolidated affiliates (SHR ownership)

Property EBITDA

$ 6,504

$ 5,953

$ 12,457

$ 6,192

$ (372)

$ 5,820

Depreciation and amortization

(3,387)

(3,547)

(6,934)

(3,298)

(451)

(3,749)

Interest expense

(5,022)

(398)

(5,420)

(4,734)

(50)

(4,784)

Other expenses, net

(43)

(39)

(82)

(1,464)

(544)

(2,008)

Income taxes

367

-

367

679

-

679

Equity in (losses) earnings of unconsolidated affiliates

$ (1,581)

$ 1,969

$ 388

$ (2,625)

$ (1,417)

$ (4,042)

EBITDA Contribution

Equity in (losses) earnings of unconsolidated affiliates

$ (1,581)

$ 1,969

$ 388

$ (2,625)

$ (1,417)

$ (4,042)

Depreciation and amortization

3,387

3,547

6,934

3,298

451

3,749

Interest expense

5,022

398

5,420

4,734

50

4,784

Income taxes

(367)

-

(367)

(679)

-

(679)

EBITDA Contribution

$ 6,461

$ 5,914

$ 12,375

$ 4,728

$ (916)

$ 3,812

FFO Contribution

Equity in (losses) earnings of unconsolidated affiliates

$ (1,581)

$ 1,969

$ 388

$ (2,625)

$ (1,417)

$ (4,042)

Depreciation and amortization

3,387

3,547

6,934

3,298

451

3,749

FFO Contribution

$ 1,806

$ 5,516

$ 7,322

$ 673

$ (966)

$ (293)

Spread over

Debt

Interest Rate

LIBOR

Loan Amount

Maturity (a)

Hotel del Coronado

CMBS Mortgage and Mezzanine

5.80% (b)

480 bp (b)

$ 425,000

March 2016

Cash and cash equivalents

(11,068)

Net Debt

$ 413,932

Fairmont Scottsdale Princess

CMBS Mortgage

0.61%

36 bp

$ 133,000

April 2015

Cash and cash equivalents

(3,926)

Net Debt

$ 129,074

(a) Includes extension options.

(b) Subject to a 1% LIBOR floor.

Effective

Caps

Date

LIBOR Cap Rate

Notional Amount

Maturity

Hotel del Coronado

CMBS Mortgage and Mezzanine Loan Caps

February 2011

2.00%

$ 425,000

February 2013

CMBS Mortgage and Mezzanine Loan Caps

February 2013

2.50%

$ 425,000

March 2013

Fairmont Scottsdale Princess

CMBS Mortgage Loan Cap

June 2011

4.00%

$ 133,000

December 2013

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Leasehold Information

(in thousands)

Three Months Ended

Six Months Ended

June 30,

June 30,

2012

2011

2012

2011

Paris Marriott (a):

Property EBITDA

$ -

$ 206

$ -

$ 3,455

Revenue (b)

$ -

$ 206

$ -

$ 3,455

Lease expense

-

(223)

-

(3,274)

Less: Deferred gain on sale-leaseback

-

(62)

-

(1,214)

Adjusted lease expense

-

(285)

-

(4,488)

EBITDA contribution from leasehold

$ -

$ (79)

$ -

$ (1,033)

Marriott Hamburg:

Property EBITDA

$ 1,496

$ 1,844

$ 2,896

$ 3,300

Revenue (b)

$ 1,165

$ 1,277

$ 2,330

$ 2,492

Lease expense

(1,143)

(1,257)

(2,311)

(2,453)

Less: Deferred gain on sale-leaseback

(50)

(56)

(101)

(109)

Adjusted lease expense

(1,193)

(1,313)

(2,412)

(2,562)

EBITDA contribution from leasehold

$ (28)

$ (36)

$ (82)

$ (70)

Total Leaseholds:

Property EBITDA

$ 1,496

$ 2,050

$ 2,896

$ 6,755

Revenue (b)

$ 1,165

$ 1,483

$ 2,330

$ 5,947

Lease expense

(1,143)

(1,480)

(2,311)

(5,727)

Less: Deferred gain on sale-leasebacks

(50)

(118)

(101)

(1,323)

Adjusted lease expense

(1,193)

(1,598)

(2,412)

(7,050)

EBITDA contribution from leaseholds

$ (28)

$ (115)

$ (82)

$ (1,103)

June 30,

December 31,

Security Deposit (c):

2012

2011

Marriott Hamburg

$ 2,406

$ 2,462

(a) On April 6, 2011, we sold our leasehold interest in the Paris Marriott hotel. The results of operations for the Paris Marriott hotel have been classified as discontinued operations for all periods presented.

(b) For the three and six months ended June 30, 2011, Revenue for the Paris Marriott hotel represents Property EBITDA. For the three and six months ended June 30, 2012 and 2011, Revenue for the Marriott Hamburg hotel represents lease revenue.

(c) The security deposit is recorded in other assets on the consolidated balance sheets.

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Non-GAAP Financial Measures

We present five non-GAAP financial measures that we believe are useful to management and investors as key measures of our operating performance: Funds from Operations (FFO); FFO - Fully Diluted; Comparable FFO; Earnings Before Interest Expense, Taxes, Depreciation and Amortization (EBITDA); and Comparable EBITDA.

EBITDA represents net income (or loss) attributable to SHR common shareholders excluding: (i) interest expense, (ii) income taxes, including deferred income tax benefits and expenses applicable to our foreign subsidiaries and income taxes applicable to sale of assets; (iii) depreciation and amortization; and (iv) preferred stock dividends. EBITDA also excludes interest expense, income taxes and depreciation and amortization of our unconsolidated affiliates. EBITDA is presented on a full participation basis, which means we have assumed conversion of all redeemable noncontrolling interests of our operating partnership into our common stock. We believe this treatment of noncontrolling interests provides useful information for management and our investors and appropriately considers our current capital structure. We also present Comparable EBITDA, which eliminates the effect of realizing deferred gains on our sale leasebacks, as well as the effect of gains or losses on sales of assets, early extinguishment of debt, impairment losses, foreign currency exchange gains or losses and the Value Creation Plan expense. We believe EBITDA and Comparable EBITDA are useful to management and investors in evaluating our operating performance because they provide management and investors with an indication of our ability to incur and service debt, to satisfy general operating expenses, to make capital expenditures and to fund other cash needs or reinvest cash into our business. We also believe they help management and investors meaningfully evaluate and compare the results of our operations from period to period by removing the impact of our asset base (primarily depreciation and amortization) from our operating results. Our management also uses EBITDA and Comparable EBITDA as measures in determining the value of acquisitions and dispositions.

We compute FFO in accordance with standards established by the National Association of Real Estate Investment Trusts, or NAREIT, with the exception of impairment of depreciable real estate. NAREIT adopted a definition of FFO in order to promote an industry-wide standard measure of REIT operating performance. NAREIT defines FFO as net income (or loss) (computed in accordance with GAAP) excluding losses or gains from sales of depreciable property, impairment of depreciable real estate, real estate-related depreciation and amortization, and our portion of these items related to unconsolidated affiliates. We also present FFO - Fully Diluted, which is FFO plus income or loss on income attributable to redeemable noncontrolling interests in our operating partnership. We also present Comparable FFO, which is FFO - Fully Diluted excluding the impact of any gains or losses on early extinguishment of debt, impairment losses, foreign currency exchange gains or losses and the Value Creation Plan expense. We believe that the presentation of FFO, FFO - Fully Diluted and Comparable FFO provides useful information to management and investors regarding our results of operations because they are measures of our ability to fund capital expenditures and expand our business. In addition, FFO is widely used in the real estate industry to measure operating performance without regard to items such as depreciation and amortization. We also present Comparable FFO per diluted share as a non-GAAP measure of our performance. We calculate Comparable FFO per diluted share for a given operating period as our Comparable FFO (as defined above) divided by the weighted average of fully diluted shares outstanding. Comparable FFO per diluted share, in accordance with NAREIT, is adjusted for the effects of dilutive securities. Dilutive securities may include shares granted under share-based compensation plans, operating partnership units and exchangeable debt securities. No effect is shown for securities that are anti-dilutive.

We caution investors that amounts presented in accordance with our definitions of FFO, FFO - Fully Diluted, Comparable FFO, EBITDA, and Comparable EBITDA may not be comparable to similar measures disclosed by other companies, since not all companies calculate these non-GAAP measures in the same manner. FFO, FFO - Fully Diluted, Comparable FFO, EBITDA, and Comparable EBITDA should not be considered as an alternative measure of our net income (or loss) or operating performance. FFO, FFO - Fully Diluted, Comparable FFO, EBITDA, and Comparable EBITDA may include funds that may not be available for our discretionary use due to functional requirements to conserve funds for capital expenditures and property acquisitions and other commitments and uncertainties. Although we believe that FFO, FFO - Fully Diluted, Comparable FFO, EBITDA, and Comparable EBITDA can enhance your understanding of our financial condition and results of operations, these non-GAAP financial measures, when viewed individually, are not necessarily a better indicator of any trend as compared to comparable GAAP measures such as net income (or loss) attributable to SHR common shareholders. In addition, you should be aware that adverse economic and market conditions might negatively impact our cash flow. We have provided a quantitative reconciliation of FFO, FFO - Fully Diluted, Comparable FFO, EBITDA, and Comparable EBITDA to the most directly comparable GAAP financial performance measure, which is net income (or loss) attributable to SHR common shareholders.

Strategic Hotels & Resorts, Inc. and Subsidiaries (SHR)

Reconciliation of Net (Loss) Income Attributable to SHR Common Shareholders to EBITDA and Comparable EBITDA

(in thousands)

Three Months Ended

Six Months Ended

June 30,

June 30,

2012

2011

2012

2011

Net (loss) income attributable to SHR common shareholders

$ (2,998)

$ 39,538

$ (34,514)

$ 4,131

Depreciation and amortization

25,277

30,091

50,767

60,696

Interest expense

19,080

25,762

38,685

45,310

Income taxes - continuing operations

350

1,060

815

(588)

Income taxes - discontinued operations

-

20

-

379

Noncontrolling interests

8

224

(109)

86

Adjustments from consolidated affiliates

(1,246)

(2,854)

(2,503)

(4,183)

Adjustments from unconsolidated affiliates

6,888

5,241

13,570

9,131

Preferred shareholder dividends

6,042

7,722

12,083

15,443

EBITDA

53,401

106,804

78,794

130,405

Realized portion of deferred gain on sale-leaseback - continuing operations

(50)

(56)

(101)

(109)

Realized portion of deferred gain on sale-leaseback - discontinued operations

-

(62)

-

(1,214)

Gain on sale of assets - continuing operations

-

-

-

(2,640)

Gain on sale of assets - discontinued operations

-

(100,951)

-

(100,965)

Loss on early extinguishment of debt

-

838