Acquisitions and New Development (Tables)

12 Months Ended

Dec. 31, 2012

Estimated Fair Value of Assets Acquired and Liabilities Assumed in Acquisitions

The following table summarizes the estimated fair value of the assets acquired and liabilities assumed in our 2012 and 2011 acquisitions of the hotels and golf club (in millions):

	As of December 31,
	2012			2011
Property and equipment	$	409		$	1,174
Intangible asset		—			7
Deferred tax asset		—			10
Restricted cash, FF&E replacement fund and other assets		9			20
Total assets	$	418		$	1,211
Mortgage debt	$	—		$	(86	)
Deferred tax liability		—			(13	)
Other liabilities		(1	)		(6	)
Net assets acquired	$	417		$	1,106

Summary of Unaudited Consolidated Pro Forma Results of Operations

Our summarized unaudited consolidated pro forma results of operations, assuming the 2012 and 2011 acquisitions of the hotels and golf club occurred on January 1, 2011 and excluding the acquisition costs discussed above, are as follows (in millions, except per share and per unit amounts):

	Year ended December 31,
	2012		2011
Revenues	$	5,339	$	5,083
Income from continuing operations		34		31
Net income		84		25
Host Inc.:
Net income available to common shareholders	$	82	$	26
Basic earnings (loss) per common share:
Continuing operations	$	.04	$	.05
Discontinued operations		.07		(.01	)
Basic earnings per common share	$	.11	$	.04
Diluted earnings (loss) per common share:
Continuing operations	$	.04	$	.05
Discontinued operations		.07		(.01	)
Diluted earnings per common share	$	.11	$	.04

	Year ended December 31,
	2012		2011
Host L.P.:
Net income available to common unitholders	$	83	$	26
Basic earnings (loss) per common unit:
Continuing operations	$	.05	$	.05
Discontinued operations		.07		(.01	)
Basic earnings per common unit	$	.12	$	.04
Diluted earnings (loss) per common unit:
Continuing operations	$	.05	$	.05
Discontinued operations		.07		(.01	)
Diluted earnings per common unit	$	.12	$	.04