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CONSOLIDATED STATEMENTS OF CASH FLOWS
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
USD ($)
shares
Dec. 31, 2018
USD ($)
shares
Dec. 31, 2017
USD ($)
shares
OPERATING ACTIVITIES      
NET INCOME $ 932 $ 1,151 $ 571
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 676 944 751
Amortization of finance costs, discounts and premiums, net 6 7 7
Loss on extinguishment of debt 56    
Stock compensation expense 15 14 11
Deferred income taxes 7 4 38
Other gains (340) (902) (108)
Loss on foreign currency transactions and derivatives 1   2
Gain on property insurance settlement (4)   (1)
Equity in earnings of affiliates (14) (30) (30)
Change in due from managers 3 13 (27)
Distributions from investments in affiliates 11 58 40
Changes in other assets 7 (5) (18)
Changes in other liabilities (106) 46 (6)
Net cash provided by operating activities 1,250 1,300 1,230
INVESTING ACTIVITIES      
Proceeds from sales of assets, net 1,192 1,605 481
Return of investments in affiliates 1 1 13
Advances to and investments in affiliates (6) (7) (30)
Acquisitions (602) (1,025) (468)
Capital expenditures:      
Renewals and replacements (222) (274) (205)
Return on investment (336) (200) (72)
Property insurance proceeds 31   14
Net cash provided by (used in) investing activities 58 100 (267)
FINANCING ACTIVITIES      
Financing costs (17)   (9)
Issuances of debt 645   404
Draws on credit facility   360 340
Repayment of credit facility (56) (462) (395)
Repurchase/redemption of senior notes (650)    
Mortgage debt and other prepayments and scheduled maturities   (1) (69)
Debt extinguishment costs (50)    
Common stock repurchase (482)    
Dividends on common stock (623) (629) (628)
Distributions and payments to non-controlling interests (75) (8) (49)
Other financing activities (7) (8) 4
Net cash used in financing activities (1,315) (748) (402)
Effects of exchange rate changes on cash held 1 (5) 4
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (6) 647 565
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 1,756 1,109 544
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR 1,750 1,756 1,109
Supplemental disclosure of cash flow information:      
Cash and cash equivalents 1,573 1,542 913
Restricted cash (included in other assets) 1 1 1
Cash included in furniture, fixtures and equipment replacement fund 176 213 195
Total cash and cash equivalents and restricted cash shown on the statements of cash flows $ 1,750 $ 1,756 $ 1,109
Redemptions of limited partner interests for common stock (shares) | shares 0.2 0.7 0.3
Redemptions of limited partner interests for common stock $ 2 $ 15 $ 6
Total cash and cash equivalents and restricted cash shown on the statements of cash flows 1,750 1,756 1,109
HOST HOTELS & RESORTS L.P.      
OPERATING ACTIVITIES      
NET INCOME 932 1,151 571
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 676 944 751
Amortization of finance costs, discounts and premiums, net 6 7 7
Loss on extinguishment of debt 56    
Stock compensation expense 15 14 11
Deferred income taxes 7 4 38
Other gains (340) (902) (108)
Loss on foreign currency transactions and derivatives 1   2
Gain on property insurance settlement (4)   (1)
Equity in earnings of affiliates (14) (30) (30)
Change in due from managers 3 13 (27)
Distributions from investments in affiliates 11 58 40
Changes in other assets 7 (5) (18)
Changes in other liabilities (106) 46 (6)
Net cash provided by operating activities 1,250 1,300 1,230
INVESTING ACTIVITIES      
Proceeds from sales of assets, net 1,192 1,605 481
Return of investments in affiliates 1 1 13
Advances to and investments in affiliates (6) (7) (30)
Acquisitions (602) (1,025) (468)
Capital expenditures:      
Renewals and replacements (222) (274) (205)
Return on investment (336) (200) (72)
Property insurance proceeds 31   14
Net cash provided by (used in) investing activities 58 100 (267)
FINANCING ACTIVITIES      
Financing costs (17)   (9)
Issuances of debt 645   404
Draws on credit facility   360 340
Repayment of credit facility (56) (462) (395)
Repurchase/redemption of senior notes (650)    
Mortgage debt and other prepayments and scheduled maturities   (1) (69)
Repurchase of common OP units (482)    
Debt extinguishment costs (50)    
Distributions on common OP units (630) (636) (635)
Distributions and payments to non-controlling interests (68) (1) (42)
Other financing activities (7) (8) 4
Net cash used in financing activities (1,315) (748) (402)
Effects of exchange rate changes on cash held 1 (5) 4
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (6) 647 565
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 1,756 1,109 544
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF YEAR 1,750 1,756 1,109
Supplemental disclosure of cash flow information:      
Cash and cash equivalents 1,573 1,542 913
Restricted cash (included in other assets) 1 1 1
Cash included in furniture, fixtures and equipment replacement fund 176 213 195
Total cash and cash equivalents and restricted cash shown on the statements of cash flows $ 1,750 $ 1,756 $ 1,109
Redemptions of limited partner interests for common stock (shares) | shares 0.2 0.7 0.3
Redemptions of limited partner interests for common stock $ 2 $ 15 $ 6
Total cash and cash equivalents and restricted cash shown on the statements of cash flows 1,750 $ 1,756 $ 1,109
1 Hotel South Beach      
Supplemental disclosure of cash flow information:      
Preferred units issued 23    
Common units issued 3    
1 Hotel South Beach | HOST HOTELS & RESORTS L.P.      
Supplemental disclosure of cash flow information:      
Preferred units issued 23    
Common units issued 3    
Chicago Marriott Suites O'Hare      
Supplemental disclosure of cash flow information:      
Bridge loan extended to purchaser 28    
Chicago Marriott Suites O'Hare | HOST HOTELS & RESORTS L.P.      
Supplemental disclosure of cash flow information:      
Bridge loan extended to purchaser $ 28