Condensed Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
OPERATING ACTIVITIES | ' | ' |
Net income | $489 | $199 |
Discontinued operations: | ' | ' |
Gain on dispositions | 0 | -32 |
Depreciation | 0 | 9 |
Depreciation and amortization | 524 | 520 |
Amortization of finance costs, discounts and premiums, net | 18 | 19 |
Non-cash loss on extinguishment of debt | 2 | 13 |
Stock compensation expense | 15 | 12 |
Deferred income taxes | 2 | 11 |
Gain on sale of assets | -112 | -33 |
(Gain) loss on foreign currency transactions and derivatives | 2 | -2 |
Equity in (earnings) losses of affiliates | 4 | -3 |
Change in due from managers | -102 | -12 |
Changes in other assets | -19 | 17 |
Changes in other liabilities | -59 | -21 |
Cash provided by operating activities | 764 | 697 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from sales of assets, net | 274 | 446 |
Return of investment | 42 | ' |
Acquisitions | -137 | -139 |
Advances to and investments in affiliates | -55 | -71 |
Capital expenditures: | ' | ' |
Renewals and replacements | -218 | -239 |
Redevelopment and acquisition-related investments | -69 | -100 |
New development | -9 | -15 |
Change in furniture, fixtures and equipment ("FF&E") replacement fund | 2 | -34 |
Property insurance proceeds | 2 | ' |
Cash used in investing activities | -168 | -152 |
FINANCING ACTIVITIES | ' | ' |
Financing costs | -4 | -4 |
Issuances of debt | 4 | 400 |
Draws on credit facility | 4 | 168 |
Repayment of credit facility | -225 | -200 |
Repurchase/redemption of senior notes | -150 | -801 |
Mortgage debt and other prepayments and scheduled maturities | -373 | -246 |
Scheduled principal repayments | 0 | -1 |
Issuance of common stock | 4 | 303 |
Dividends on common stock | -318 | -222 |
Contributions from non-controlling interests | 1 | 4 |
Distributions to non-controlling interests | -9 | -7 |
Change in restricted cash for financing activities | 1 | ' |
Cash used in financing activities | -1,065 | -606 |
Effects of exchange rate changes on cash held | -5 | -2 |
DECREASE IN CASH AND CASH EQUIVALENTS | -474 | -63 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 861 | 417 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 387 | 354 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid - periodic interest expense | 139 | 204 |
Interest paid - debt extinguishments | 2 | 23 |
Total interest paid | 141 | 227 |
Income taxes paid | 20 | 13 |
HOST HOTELS & RESORTS L.P. | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net income | 489 | 199 |
Discontinued operations: | ' | ' |
Gain on dispositions | ' | -32 |
Depreciation | ' | 9 |
Depreciation and amortization | 524 | 520 |
Amortization of finance costs, discounts and premiums, net | 18 | 19 |
Non-cash loss on extinguishment of debt | 2 | 13 |
Stock compensation expense | 15 | 12 |
Deferred income taxes | 2 | 11 |
Gain on sale of assets | -112 | -33 |
(Gain) loss on foreign currency transactions and derivatives | 2 | -2 |
Equity in (earnings) losses of affiliates | 4 | -3 |
Change in due from managers | -102 | -12 |
Changes in other assets | -19 | 17 |
Changes in other liabilities | -59 | -21 |
Cash provided by operating activities | 764 | 697 |
INVESTING ACTIVITIES | ' | ' |
Proceeds from sales of assets, net | 274 | 446 |
Return of investment | 42 | ' |
Acquisitions | -137 | -139 |
Advances to and investments in affiliates | -55 | -71 |
Capital expenditures: | ' | ' |
Renewals and replacements | -218 | -239 |
Redevelopment and acquisition-related investments | -69 | -100 |
New development | -9 | -15 |
Change in furniture, fixtures and equipment ("FF&E") replacement fund | 2 | -34 |
Property insurance proceeds | 2 | ' |
Cash used in investing activities | -168 | -152 |
FINANCING ACTIVITIES | ' | ' |
Financing costs | -4 | -4 |
Issuances of debt | 4 | 400 |
Draws on credit facility | 4 | 168 |
Repayment of credit facility | -225 | -200 |
Repurchase/redemption of senior notes | -150 | -801 |
Mortgage debt and other prepayments and scheduled maturities | -373 | -246 |
Scheduled principal repayments | ' | -1 |
Issuance of common OP units | 4 | 303 |
Distributions on common OP units | -322 | -225 |
Contributions from non-controlling interests | 1 | 4 |
Distributions to non-controlling interests | -5 | -4 |
Change in restricted cash for financing activities | 1 | ' |
Cash used in financing activities | -1,065 | -606 |
Effects of exchange rate changes on cash held | -5 | -2 |
DECREASE IN CASH AND CASH EQUIVALENTS | -474 | -63 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 861 | 417 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 387 | 354 |
Supplemental disclosure of cash flow information: | ' | ' |
Interest paid - periodic interest expense | 139 | 204 |
Interest paid - debt extinguishments | 2 | 23 |
Total interest paid | 141 | 227 |
Income taxes paid | $20 | $13 |