Condensed Consolidated Statements Of Cash Flows (USD $) | 6 Months Ended |
In Millions, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
OPERATING ACTIVITIES | ' | ' |
Net income | $344 | $181 |
Discontinued operations: | ' | ' |
Gain on dispositions | 0 | -19 |
Depreciation | 0 | 6 |
Depreciation and amortization | 346 | 345 |
Amortization of finance costs, discounts and premiums, net | 13 | 14 |
Non-cash loss on extinguishment of debt | 2 | 12 |
Stock compensation expense | 10 | 8 |
Deferred income taxes | -3 | -1 |
Gain on sale of assets | -111 | -32 |
(Gain) loss on foreign currency transactions and derivatives | 1 | -3 |
Equity in (earnings) losses of affiliates | 3 | -4 |
Change in due from managers | -76 | -55 |
Changes in other assets | 6 | 34 |
Changes in other liabilities | -10 | -26 |
Cash provided by operating activities | 525 | 460 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from sales of assets, net | 274 | 446 |
Return of investment | 42 | ' |
Acquisitions | -73 | -139 |
Advances to and investments in affiliates | -32 | -50 |
Capital expenditures: | ' | ' |
Renewals and replacements | -147 | -163 |
Redevelopment and acquisition-related investments | -36 | -69 |
New development | -5 | -11 |
Change in furniture, fixtures and equipment ("FF&E") replacement fund | -11 | -39 |
Cash provided by (used in) investing activities | 12 | -25 |
FINANCING ACTIVITIES | ' | ' |
Financing costs | -4 | -4 |
Issuances of debt | 0 | 400 |
Draws on credit facility | 0 | 148 |
Repayment of credit facility | -225 | -200 |
Repurchase/redemption of senior notes | -150 | -601 |
Mortgage debt and other prepayments and scheduled maturities | -373 | -246 |
Scheduled principal repayments | 0 | -1 |
Issuance of common stock | 3 | 192 |
Dividends on common stock | -204 | -140 |
Contributions from non-controlling interests | 1 | 3 |
Distributions to non-controlling interests | -7 | -6 |
Change in restricted cash for financing activities | -1 | 1 |
Cash used in financing activities | -960 | -454 |
Effects of exchange rate changes on cash held | 2 | -5 |
DECREASE IN CASH AND CASH EQUIVALENTS | -421 | -24 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 861 | 417 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 440 | 393 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid - periodic interest expense | 93 | 148 |
Interest paid - debt extinguishments | 2 | 20 |
Total interest paid | 95 | 168 |
Income taxes paid | 14 | 6 |
HOST HOTELS & RESORTS L.P. | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net income | 344 | 181 |
Discontinued operations: | ' | ' |
Gain on dispositions | ' | -19 |
Depreciation | ' | 6 |
Depreciation and amortization | 346 | 345 |
Amortization of finance costs, discounts and premiums, net | 13 | 14 |
Non-cash loss on extinguishment of debt | 2 | 12 |
Stock compensation expense | 10 | 8 |
Deferred income taxes | -3 | -1 |
Gain on sale of assets | -111 | -32 |
(Gain) loss on foreign currency transactions and derivatives | 1 | -3 |
Equity in (earnings) losses of affiliates | 3 | -4 |
Change in due from managers | -76 | -55 |
Changes in other assets | 6 | 34 |
Changes in other liabilities | -10 | -26 |
Cash provided by operating activities | 525 | 460 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from sales of assets, net | 274 | 446 |
Return of investment | 42 | 0 |
Acquisitions | -73 | -139 |
Advances to and investments in affiliates | -32 | -50 |
Capital expenditures: | ' | ' |
Renewals and replacements | -147 | -163 |
Redevelopment and acquisition-related investments | -36 | -69 |
New development | -5 | -11 |
Change in furniture, fixtures and equipment ("FF&E") replacement fund | -11 | -39 |
Cash provided by (used in) investing activities | 12 | -25 |
FINANCING ACTIVITIES | ' | ' |
Financing costs | -4 | -4 |
Issuances of debt | ' | 400 |
Draws on credit facility | ' | 148 |
Repayment of credit facility | -225 | -200 |
Repurchase/redemption of senior notes | -150 | -601 |
Mortgage debt and other prepayments and scheduled maturities | -373 | -246 |
Scheduled principal repayments | ' | -1 |
Contributions from non-controlling interests | 1 | 3 |
Distributions to non-controlling interests | -4 | -4 |
Change in restricted cash for financing activities | -1 | 1 |
Cash used in financing activities | -960 | -454 |
Issuance of common OP units | 3 | 192 |
Distributions on common OP units | -207 | -142 |
Effects of exchange rate changes on cash held | 2 | -5 |
DECREASE IN CASH AND CASH EQUIVALENTS | -421 | -24 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 861 | 417 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 440 | 393 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid - periodic interest expense | 93 | 148 |
Interest paid - debt extinguishments | 2 | 20 |
Total interest paid | 95 | 168 |
Income taxes paid | $14 | $6 |