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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions
6 Months Ended
Jun. 17, 2011
HOST HOTELS & RESORTS, INC.
Jun. 18, 2010
HOST HOTELS & RESORTS, INC.
Jun. 17, 2011
HOST HOTELS & RESORTS L.P.
Jun. 18, 2010
HOST HOTELS & RESORTS L.P.
OPERATING ACTIVITIES        
Net income (loss) $ 4 $ (64) $ 4 $ (64)
Discontinued operations:        
Loss on dispositions   1   1
Depreciation 3   3  
Depreciation and amortization 290 275 290 275
Amortization of deferred financing costs 5 6 5 6
Amortization of debt premiums/discounts, net 9 16 9 16
Deferred income taxes (15) (17) (15) (17)
Net gain on property transactions and other (3)   (3)  
(Gain) loss on foreign currency transactions and derivatives (2) 5 (2) 5
Non-cash loss on extinguishment of debt 1 2 1 2
Equity in (earnings) losses of affiliates, net (2) 5 (2) 5
Distributions from equity investments   2   2
Change in due from managers (27) (25) (27) (25)
Changes in other assets 12 34 12 34
Changes in other liabilities (19) (21) (19) (21)
Cash provided by operations 256 219 256 219
INVESTING ACTIVITIES        
Proceeds from sales of assets, net   12   12
Acquisitions (1,035)   (1,035)  
Purchase of mortgage note on a portfolio of hotels   (53)   (53)
Investment in affiliates (18)   (18)  
Capital expenditures:        
Renewals and replacements (119) (67) (119) (67)
Repositionings and other investments (121) (33) (121) (33)
Change in furniture, fixtures and equipment ("FF&E") replacement fund 1 (22) 1 (22)
Change in FF&E replacement funds designated as restricted cash   5   5
Property insurance proceeds 2   2  
Cash used in investing activities (1,290) (158) (1,290) (158)
FINANCING ACTIVITIES        
Financing costs (8)   (8)  
Issuances of debt 576   576  
Draw on credit facility 153   153  
Repayment on credit facility (50)   (50)  
Repayments/redemption of senior notes, including exchangeable debentures (250) (346) (250) (346)
Mortgage debt prepayments and scheduled maturities (132) (124) (132) (124)
Scheduled principal repayments (2) (5) (2) (5)
Common stock issuance 288 55    
Redemption of preferred stock   (101)    
Dividends on common stock (21) (7)    
Dividends on preferred stock   (6)    
Distributions to non-controlling interests (4) (3) (4) (3)
Change in restricted cash for financing activities 5 5 5 5
Cash provided by (used in) financing activities 555 (532) 555 (532)
Common OP unit issuance     288 55
Redemption of preferred OP units       (101)
Distributions on common OP units     (21) (7)
Distributions on preferred OP units       (6)
DECREASE IN CASH AND CASH EQUIVALENTS (479) (471) (479) (471)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 1,113 1,642 1,113 1,642
CASH AND CASH EQUIVALENTS, END OF PERIOD 634 1,171 634 1,171
Supplemental disclosure of cash flow information        
Interest paid 144 163 144 163
Income taxes paid $ 4 $ 3 $ 4 $ 3