Condensed Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income | $185 | $60 |
Discontinued operations: | ' | ' |
Gain on dispositions | 0 | -19 |
Depreciation | 0 | 4 |
Depreciation and amortization | 172 | 173 |
Amortization of finance costs, discounts and premiums, net | 6 | 7 |
Non-cash loss on extinguishment of debt | 1 | ' |
Stock compensation expense | 4 | 4 |
Deferred income taxes | -11 | -5 |
Gain on sale of other assets | 0 | -12 |
Gain on sale of property | -109 | ' |
Gain on foreign currency transactions and derivatives | 0 | -2 |
Equity in losses of affiliates | 8 | 2 |
Change in due from managers | -58 | -21 |
Changes in other assets | -9 | 21 |
Changes in other liabilities | -18 | -36 |
Cash provided by operating activities | 171 | 176 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from sales of assets, net | 274 | 279 |
Return of investment | 25 | ' |
Acquisitions | -73 | ' |
Advances to and investments in affiliates | -14 | -1 |
Capital expenditures: | ' | ' |
Renewals and replacements | -76 | -87 |
Redevelopment and acquisition-related investments | -14 | -36 |
New development | 0 | -5 |
Change in furniture, fixtures and equipment ("FF&E") replacement fund | 12 | -3 |
Cash provided by investing activities | 134 | 147 |
FINANCING ACTIVITIES | ' | ' |
Financing costs | 0 | -3 |
Issuances of debt | 0 | 400 |
Repayment of credit facility | -225 | -100 |
Repurchase/redemption of senior notes | -150 | -1 |
Mortgage debt prepayments and scheduled maturities | -301 | ' |
Scheduled principal repayments | 0 | -1 |
Issuance of common stock | 1 | 103 |
Dividends on common stock | -98 | -65 |
Contributions from non-controlling interests | 0 | 2 |
Distributions to non-controlling interests | -1 | -1 |
Change in restricted cash for financing activities | -1 | ' |
Cash provided by (used in) financing activities | -775 | 334 |
Effects of exchange rate changes on cash held | 1 | 1 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -469 | 658 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 861 | 417 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 392 | 1,075 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid - periodic interest expense | 48 | 70 |
Interest paid - debt extinguishments | 2 | 0 |
Total interest paid | 50 | 70 |
Income taxes paid | 8 | 4 |
HOST HOTELS & RESORTS L.P. | ' | ' |
Net income | 185 | 60 |
Discontinued operations: | ' | ' |
Gain on dispositions | ' | -19 |
Depreciation | ' | 4 |
Depreciation and amortization | 172 | 173 |
Amortization of finance costs, discounts and premiums, net | 6 | 7 |
Non-cash loss on extinguishment of debt | 1 | 0 |
Stock compensation expense | 4 | 4 |
Deferred income taxes | -11 | -5 |
Gain on sale of other assets | ' | -12 |
Gain on sale of property | -109 | 0 |
Gain on foreign currency transactions and derivatives | ' | -2 |
Equity in losses of affiliates | 8 | 2 |
Change in due from managers | -58 | -21 |
Changes in other assets | -9 | 21 |
Changes in other liabilities | -18 | -36 |
Cash provided by operating activities | 171 | 176 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from sales of assets, net | 274 | 279 |
Return of investment | 25 | 0 |
Acquisitions | -73 | 0 |
Advances to and investments in affiliates | -14 | -1 |
Capital expenditures: | ' | ' |
Renewals and replacements | -76 | -87 |
Redevelopment and acquisition-related investments | -14 | -36 |
New development | ' | -5 |
Change in furniture, fixtures and equipment ("FF&E") replacement fund | 12 | -3 |
Cash provided by investing activities | 134 | 147 |
FINANCING ACTIVITIES | ' | ' |
Financing costs | ' | -3 |
Issuances of debt | ' | 400 |
Repayment of credit facility | -225 | -100 |
Repurchase/redemption of senior notes | -150 | -1 |
Mortgage debt prepayments and scheduled maturities | -301 | 0 |
Scheduled principal repayments | ' | -1 |
Contributions from non-controlling interests | ' | 2 |
Change in restricted cash for financing activities | -1 | 0 |
Cash provided by (used in) financing activities | -775 | 334 |
Issuance of common OP units | 1 | 103 |
Distributions on common OP units | -99 | -66 |
Effects of exchange rate changes on cash held | 1 | 1 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -469 | 658 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 861 | 417 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 392 | 1,075 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid - periodic interest expense | 48 | 70 |
Interest paid - debt extinguishments | 2 | ' |
Total interest paid | 50 | 70 |
Income taxes paid | $8 | $4 |