XML 93 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUES      
Total revenues $ 4,947 $ 4,384 $ 4,094
EXPENSES      
Interest expense (371) [1] (384) [1] (379) [2]
LOSS BEFORE INCOME TAXES (12) (159) (235)
Less: Net loss attributable to non-controlling interests   2 5
HOST HOTELS & RESORTS, INC.
      
REVENUES      
Rooms 2,989 2,633 2,458
Food and beverage 1,412 1,278 1,221
Other 293 274 308
Owned hotel revenues 4,694 4,185 3,987
Other revenues 253 199 107
Total revenues 4,947 4,384 4,094
EXPENSES      
Rooms 821 724 672
Food and beverage 1,050 954 923
Other departmental and support expenses 1,247 1,138 1,086
Management fees 188 170 157
Other property-level expenses 566 485 383
Depreciation and amortization 641 585 607
Corporate and other expenses 111 108 116
Gain on insurance settlement (2) (3)  
Total operating costs and expenses 4,622 4,161 3,944
OPERATING PROFIT 325 223 150
Interest income 20 8 7
Interest expense (371) (384) (379)
Net gains on property transactions and other 7 1 14
Gain (loss) on foreign currency transactions and derivatives 3 (6) 5
Equity in earnings (losses) of affiliates 4 (1) (32)
LOSS BEFORE INCOME TAXES (12) (159) (235)
Benefit for income taxes 1 31 39
LOSS FROM CONTINUING OPERATIONS (11) (128) (196)
Loss from discontinued operations, net of tax (5) (4) (62)
NET LOSS (16) (132) (258)
Less: Net loss attributable to non-controlling interests 1 2 6
NET LOSS ATTRIBUTABLE TO REPORTING ENTITY (15) (130) (252)
Less: Dividends on preferred stock   (4) (9)
Issuance costs of redeemed preferred stock   (4) [3]  
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS (15) (138) (261)
Basic loss per common share:      
Continuing operations $ (0.01) $ (0.20) $ (0.34)
Discontinued operations $ (0.01) $ (0.01) $ (0.11)
Basic loss per common share $ (0.02) $ (0.21) $ (0.45)
Diluted loss per common share:      
Continuing operations $ (0.01) $ (0.20) $ (0.34)
Discontinued operations $ (0.01) $ (0.01) $ (0.11)
Diluted loss per common share $ (0.02) $ (0.21) $ (0.45)
HOST HOTELS & RESORTS L.P.
      
REVENUES      
Rooms 2,989 2,633 2,458
Food and beverage 1,412 1,278 1,221
Other 293 274 308
Owned hotel revenues 4,694 4,185 3,987
Other revenues 253 199 107
Total revenues 4,947 4,384 4,094
EXPENSES      
Rooms 821 724 672
Food and beverage 1,050 954 923
Other departmental and support expenses 1,247 1,138 1,086
Management fees 188 170 157
Other property-level expenses 566 485 383
Depreciation and amortization 641 585 607
Corporate and other expenses 111 108 116
Gain on insurance settlement (2) (3)  
Total operating costs and expenses 4,622 4,161 3,944
OPERATING PROFIT 325 223 150
Interest income 20 8 7
Interest expense (371) (384) (379)
Net gains on property transactions and other 7 1 14
Gain (loss) on foreign currency transactions and derivatives 3 (6) 5
Equity in earnings (losses) of affiliates 4 (1) (32)
LOSS BEFORE INCOME TAXES (12) (159) (235)
Benefit for income taxes 1 31 39
LOSS FROM CONTINUING OPERATIONS (11) (128) (196)
Loss from discontinued operations, net of tax (5) (4) (62)
NET LOSS (16) (132) (258)
Less: Net loss attributable to non-controlling interests 1   1
NET LOSS ATTRIBUTABLE TO REPORTING ENTITY (15) (132) (257)
Less: Distributions on preferred units   (4) (9)
Issuance costs of redeemed preferred units   (4) [4]  
NET LOSS AVAILABLE TO COMMON UNITHOLDERS $ (15) $ (140) $ (266)
Basic loss per common unit:      
Continuing operations (0.01) (0.21) (0.34)
Discontinued operations (0.01)   (0.10)
Basic loss per common unit (0.02) (0.21) (0.44)
Diluted loss per common unit:      
Continuing operations (0.01) (0.21) (0.35)
Discontinued operations (0.01)   (0.10)
Diluted loss per common unit (0.02) (0.21) (0.45)
[1] Interest expense and interest paid for 2011 and 2010 includes cash prepayment premiums of approximately $5 million and $20 million, respectively. No significant prepayment premium was paid in 2009.
[2] Interest expense and interest paid for 2009 is net of $7 million received in connection with the 2007 defeasance of $514 million in collateralized mortgage-backed securities.
[3] Represents the original issuance costs associated with the Class E preferred stock, which stock was redeemed during 2010.
[4] Represents the original issuance costs associated with the Class E preferred OP units, which units were redeemed during 2010.