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FelCor LP's Consolidating Financial Information (FelCor Lodging LP [Member])
 9 Months Ended
Sep. 30, 2012
FelCor Lodging LP [Member]
  
Guarantor Obligations [Line Items]  
FelCor LP's Consolidating Financial Information
FelCor LP’s Consolidating Financial Information

Certain of FelCor LP’s 100% owned subsidiaries (FelCor/CSS Holdings, L.P.; FelCor Lodging Holding Company, L.L.C.; FelCor TRS Borrower 1, L.P.; FelCor TRS Borrower 4, L.L.C.; FelCor TRS Holdings, L.L.C.; FelCor Canada Co.; FelCor/St. Paul Holdings, L.P.; FelCor Hotel Asset Company, L.L.C.; FelCor Copley Plaza, L.L.C.; FelCor St. Pete (SPE), L.L.C.; FelCor Esmeralda (SPE), L.L.C.; Los Angeles International Airport Hotel Associates, a Texas L.P.; Madison 237 Hotel, L.L.C.; and Royalton 44 Hotel, L.L.C., collectively, “Subsidiary Guarantors”), together with FelCor, guarantee, fully and unconditionally, except where subject to customary release provisions as described below, and jointly and severally, our senior debt.

The guarantees by the Subsidiary Guarantors may be automatically and unconditionally released upon (1) the sale or other disposition of all of the capital stock of the Subsidiary Guarantor or the sale or disposition of all or substantially all of the assets of the Subsidiary Guarantor, (2) the consolidation or merger of any such Subsidiary Guarantor with any person other than FelCor LP, or a subsidiary of FelCor LP, if, as a result of such consolidation or merger, such Subsidiary Guarantor ceases to be a subsidiary of FelCor LP, (3) a legal defeasance or covenant defeasance of the indenture, (4) the unconditional and complete release of such Subsidiary Guarantor in accordance with the modification and waiver provisions of the indenture, or (5) the designation of a restricted subsidiary that is a Subsidiary Guarantor as an unrestricted subsidiary under and in compliance with the indenture.

The following tables present consolidating information for the Subsidiary Guarantors.


12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING BALANCE SHEET
September 30, 2012
(in thousands)

 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Net investment in hotels
$
68,183

 
$
809,852

 
$
935,810

 
$
—

 
$
1,813,845

Hotel development
—

 
—

 
138,749

 
—

 
138,749

Equity investment in consolidated entities
1,375,446

 
—

 
—

 
(1,375,446
)
 
—

Investment in unconsolidated entities
43,977

 
11,962

 
1,413

 
—

 
57,352

Hotels held for sale
—

 
113

 
40,709

 
—

 
40,822

Cash and cash equivalents
72,214

 
35,888

 
4,017

 
—

 
112,119

Restricted cash
—

 
7,158

 
74,484

 
—

 
81,642

Accounts receivable, net
436

 
34,004

 
282

 
—

 
34,722

Deferred expenses, net
16,966

 
—

 
8,396

 
—

 
25,362

Other assets
10,792

 
10,569

 
5,679

 
—

 
27,040

 
 
 
 
 
 
 
 
 
 
Total assets
$
1,588,014

 
$
909,546

 
$
1,209,539

 
$
(1,375,446
)
 
$
2,331,653

 
 
 
 
 
 
 
 
 
 
Debt, net
$
992,499

 
$
—

 
$
605,595

 
$
—

 
$
1,598,094

Distributions payable
46,306

 
—

 
—

 
—

 
46,306

Accrued expenses and other liabilities
48,515

 
97,882

 
13,420

 
—

 
159,817

 
 
 
 
 
 
 
 
 
 
Total liabilities
1,087,320

 
97,882

 
619,015

 
—

 
1,804,217

 
 
 
 
 
 
 
 
 
 
Redeemable units
3,236

 
—

 
—

 
—

 
3,236

 
 
 
 
 
 
 
 
 
 
Preferred units
478,774

 
—

 
—

 
—

 
478,774

Common units
18,684

 
785,573

 
563,532

 
(1,375,446
)
 
(7,657
)
Accumulated other comprehensive income
—

 
26,341

 
—

 
—

 
26,341

Total FelCor LP partners’ capital
497,458

 
811,914

 
563,532

 
(1,375,446
)
 
497,458

Noncontrolling interests
—

 
(250
)
 
26,992

 
—

 
26,742

Total partners’ capital
497,458

 
811,664

 
590,524

 
(1,375,446
)
 
524,200

Total liabilities and partners’ capital
$
1,588,014

 
$
909,546

 
$
1,209,539

 
$
(1,375,446
)
 
$
2,331,653


12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING BALANCE SHEET
December 31, 2011
(in thousands)

 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Net investment in hotels
$
67,828

 
$
805,280

 
$
1,080,687

 
$
—

 
$
1,953,795

Hotel development
—

 
—

 
120,163

 
—

 
120,163

Equity investment in consolidated entities
1,478,347

 
—

 
—

 
(1,478,347
)
 
—

Investment in unconsolidated entities
56,492

 
12,063

 
1,447

 
—

 
70,002

Cash and cash equivalents
23,503

 
67,001

 
3,254

 
—

 
93,758

Restricted cash
—

 
11,514

 
72,726

 
—

 
84,240

Accounts receivable, net
540

 
26,357

 
238

 
—

 
27,135

Deferred expenses, net
24,101

 
—

 
5,671

 
—

 
29,772

Other assets
8,507

 
10,817

 
5,039

 
—

 
24,363

 
 
 
 
 
 
 
 
 
 
Total assets
$
1,659,318

 
$
933,032

 
$
1,289,225

 
$
(1,478,347
)
 
$
2,403,228

 
 
 
 
 
 
 
 
 
 
Debt, net
$
984,931

 
$
—

 
$
611,535

 
$
—

 
$
1,596,466

Distributions payable
76,293

 
—

 
—

 
—

 
76,293

Accrued expenses and other liabilities
33,530

 
98,127

 
8,891

 
—

 
140,548

 
 
 
 
 
 
 
 
 
 
Total liabilities
1,094,754

 
98,127

 
620,426

 
—

 
1,813,307

 
 
 
 
 
 
 
 
 
 
Redeemable units
3,026

 
—

 
—

 
—

 
3,026

 
 
 
 
 
 
 
 
 
 
Preferred units
478,774

 
—

 
—

 
—

 
478,774

Common units
82,764

 
810,554

 
641,945

 
(1,478,347
)
 
56,916

Accumulated other comprehensive income
—

 
25,848

 
—

 
—

 
25,848

Total FelCor LP partners’ capital
561,538

 
836,402

 
641,945

 
(1,478,347
)
 
561,538

Noncontrolling interests
—

 
(1,497
)
 
26,854

 
—

 
25,357

Total partners’ capital
561,538

 
834,905

 
668,799

 
(1,478,347
)
 
586,895

Total liabilities and partners’ capital
$
1,659,318

 
$
933,032

 
$
1,289,225

 
$
(1,478,347
)
 
$
2,403,228

FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended September 30, 2012
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
Hotel operating revenue
$
—

 
$
234,796

 
$
—

 
$
—

 
$
234,796

Percentage lease revenue
2,575

 
—

 
43,556

 
(46,131
)
 
—

Other revenue
7

 
1,269

 
165

 
—

 
1,441

Total revenues
2,582

 
236,065

 
43,721

 
(46,131
)
 
236,237

 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
Hotel operating expenses
—

 
159,398

 
—

 
—

 
159,398

Taxes, insurance and lease expense
319

 
65,786

 
5,379

 
(46,131
)
 
25,353

Corporate expenses
139

 
3,116

 
2,440

 
—

 
5,695

Depreciation and amortization
1,248

 
12,715

 
17,786

 
—

 
31,749

Other expenses
88

 
1,697

 
378

 
—

 
2,163

Total operating expenses
1,794

 
242,712

 
25,983

 
(46,131
)
 
224,358

Operating income
788

 
(6,647
)
 
17,738

 
—

 
11,879

Interest expense, net
(21,532
)
 
(293
)
 
(9,534
)
 
—

 
(31,359
)
Debt extinguishment
—

 
—

 
(11,661
)
 
—

 
(11,661
)
Loss before equity in income from unconsolidated entities
(20,744
)
 
(6,940
)
 
(3,457
)
 
—

 
(31,141
)
Equity in loss from consolidated entities
559

 
—

 
—

 
(559
)
 
—

Equity in income from unconsolidated entities
1,040

 
507

 
(11
)
 
—

 
1,536

Loss from continuing operations
(19,145
)
 
(6,433
)
 
(3,468
)
 
(559
)
 
(29,605
)
Income from discontinued operations
(24
)
 
(861
)
 
10,935

 
—

 
10,050

Net loss
(19,169
)
 
(7,294
)
 
7,467

 
(559
)
 
(19,555
)
Loss attributable to noncontrolling interests
—

 
286

 
100

 
—

 
386

Net loss attributable to FelCor LP
(19,169
)
 
(7,008
)
 
7,567

 
(559
)
 
(19,169
)
Preferred distributions
(9,678
)
 
—

 
—

 
—

 
(9,678
)
Net loss attributable to FelCor LP common unitholders
$
(28,847
)
 
$
(7,008
)
 
$
7,567

 
$
(559
)
 
$
(28,847
)

   
12.    FelCor LP’s Consolidating Financial Information – (continued)
FELCOR LODGING LIMITED PARTNERSHIP
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Three Months Ended September 30, 2011
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
Hotel operating revenue
$
—

 
$
221,634

 
$
—

 
$
—

 
$
221,634

Percentage lease revenue
2,439

 
—

 
40,808

 
(43,247
)
 
—

Other revenue
—

 
1,241

 
153

 
—

 
1,394

Total revenues
2,439

 
222,875


40,961


(43,247
)
 
223,028

 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
Hotel operating expenses
—

 
152,865

 
—

 
—

 
152,865

Taxes, insurance and lease expense
383

 
60,984

 
4,895

 
(43,247
)
 
23,015

Corporate expenses
139

 
3,486

 
2,633

 
—

 
6,258

Depreciation and amortization
1,138

 
11,534

 
17,219

 
—

 
29,891

Other expenses
(13
)
 
1,138

 
83

 
—

 
1,208

Total operating expenses
1,647

 
230,007

 
24,830

 
(43,247
)
 
213,237

Operating income
792

 
(7,132
)
 
16,131

 
—

 
9,791

Interest expense, net
(23,710
)
 
(588
)
 
(8,567
)
 
—

 
(32,865
)
Debt extinguishment
—

 
—

 
(21
)
 
—

 
(21
)
Gain on involuntary conversion, net
—

 
109

 
—

 
—

 
109

Loss before equity in income from unconsolidated entities
(22,918
)
 
(7,611
)

7,543


—


(22,986
)
Equity in income from consolidated entities
(751
)
 
—

 
—

 
751

 
—

Equity in income from unconsolidated entities
(54
)
 
315

 
(12
)
 
—

 
249

Loss from continuing operations
(23,723
)
 
(7,296
)
 
7,531

 
751

 
(22,737
)
Loss from discontinued operations
725

 
(1,481
)
 
117

 
—

 
(639
)
Net loss
(22,998
)
 
(8,777
)
 
7,648

 
751

 
(23,376
)
Loss attributable to noncontrolling interests
—

 
152

 
226

 
—

 
378

Net loss attributable to FelCor LP
(22,998
)
 
(8,625
)
 
7,874

 
751

 
(22,998
)
Preferred distributions
(9,678
)
 
—

 
—

 
—

 
(9,678
)
Net loss attributable to FelCor LP common unitholders
$
(32,676
)
 
$
(8,625
)
 
$
7,874

 
$
751

 
$
(32,676
)

12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Nine Months Ended September 30, 2012
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
Hotel operating revenue
$
—

 
$
692,313

 
$
—

 
$
—

 
$
692,313

Percentage lease revenue
5,401

 
—

 
124,972

 
(130,373
)
 
—

Other revenue
12

 
2,311

 
349

 
—

 
2,672

Total revenues
5,413

 
694,624

 
125,321

 
(130,373
)
 
694,985

 
 
 
 
 
 
 
 
 
 
Expenses:
 
 
 
 
 
 
 
 
 
Hotel operating expenses
—

 
471,365

 
—

 
—

 
471,365

Taxes, insurance and lease expense
1,065

 
185,955

 
15,336

 
(130,373
)
 
71,983

Corporate expenses
333

 
10,816

 
8,925

 
—

 
20,074

Depreciation and amortization
3,523

 
36,541

 
52,480

 
—

 
92,544

Impairment loss
—

 
—

 
1,335

 
—

 
1,335

Other expenses
564

 
2,877

 
485

 
—

 
3,926

Total operating expenses
5,485

 
707,554

 
78,561

 
(130,373
)
 
661,227

Operating income
(72
)
 
(12,930
)
 
46,760

 
—

 
33,758

Interest expense, net
(63,906
)
 
(921
)
 
(28,720
)
 
—

 
(93,547
)
Debt extinguishment
(7
)
 
—

 
(11,801
)
 
—

 
(11,808
)
Loss before equity in income from unconsolidated entities
(63,985
)
 
(13,851
)
 
6,239

 
—

 
(71,597
)
Equity in loss from consolidated entities
26,048

 
—

 
—

 
(26,048
)
 
—

Equity in income from unconsolidated entities
2,058

 
650

 
(34
)
 
—

 
2,674

Loss from continuing operations
(35,879
)
 
(13,201
)
 
6,205

 
(26,048
)
 
(68,923
)
Income from discontinued operations
(69
)
 
9,065

 
23,539

 
—

 
32,535

Net loss
(35,948
)
 
(4,136
)
 
29,744

 
(26,048
)
 
(36,388
)
Loss attributable to noncontrolling interests
—

 
575

 
(135
)
 
—

 
440

Net loss attributable to FelCor LP
(35,948
)
 
(3,561
)
 
29,609

 
(26,048
)
 
(35,948
)
Preferred distributions
(29,034
)
 
—

 
—

 
—

 
(29,034
)
Net loss attributable to FelCor LP common unitholders
$
(64,982
)
 
$
(3,561
)
 
$
29,609

 
$
(26,048
)
 
$
(64,982
)


12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the Nine Months Ended September 30, 2011
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
Hotel operating revenue
$
—

 
$
650,068

 
$
—

 
$
—

 
$
650,068

Percentage lease revenue
5,315

 
—

 
119,145

 
(124,460
)
 
—

Other revenue
10

 
2,332

 
288

 
—

 
2,630

Total revenues
5,325

 
652,400

 
119,433

 
(124,460
)
 
652,698

 
 
 
 
 
 
 
 
 

Expenses:
 
 
 
 
 
 
 
 

Hotel operating expenses
—

 
445,436

 
—

 
—

 
445,436

Taxes, insurance and lease expense
1,199

 
172,858

 
14,634

 
(124,460
)
 
64,231

Corporate expenses
434

 
12,436

 
9,835

 
—

 
22,705

Depreciation and amortization
3,456

 
33,834

 
51,670

 
—

 
88,960

Impairment loss
—

 
4,315

 
2,688

 
—

 
7,003

Other expenses
11

 
3,261

 
183

 
—

 
3,455

Total operating expenses
5,100

 
672,140

 
79,010

 
(124,460
)
 
631,790

Operating income
225

 
(19,740
)
 
40,423

 
—

 
20,908

Interest expense, net
(67,637
)
 
(1,881
)
 
(28,654
)
 
—

 
(98,172
)
Debt extinguishment
(27,354
)
 
—

 
(245
)
 
—

 
(27,599
)
Gain on involuntary conversion, net
(21
)
 
316

 
(3
)
 
—

 
292

Loss before equity in loss from unconsolidated entities
(94,787
)
 
(21,305
)
 
11,521

 
—

 
(104,571
)
Equity in income from consolidated entities
(2,010
)
 
—

 
—

 
2,010

 
—

Equity in loss from unconsolidated entities
(1,319
)
 
50

 
(34
)
 
—

 
(1,303
)
Loss from continuing operations
(98,116
)
 
(21,255
)
 
11,487

 
2,010

 
(105,874
)
Income from discontinued operations
886

 
(7,120
)
 
14,609

 
—

 
8,375

Net loss
(97,230
)
 
(28,375
)
 
26,096

 
2,010

 
(97,499
)
Loss attributable to noncontrolling interests
—

 
305

 
(36
)
 
—

 
269

Net loss attributable to FelCor LP
(97,230
)
 
(28,070
)
 
26,060

 
2,010

 
(97,230
)
Preferred distributions
(29,034
)
 
—

 
—

 
—

 
(29,034
)
Net loss attributable to FelCor LP common unitholders
$
(126,264
)
 
$
(28,070
)
 
$
26,060

 
$
2,010

 
$
(126,264
)

12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended September 30, 2012
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Net loss
$
(19,169
)
 
$
(7,294
)
 
$
7,467

 
$
(559
)
 
$
(19,555
)
Foreign currency translation adjustment
—

 
502

 
—

 
—

 
502

Comprehensive loss
(19,169
)
 
(6,792
)
 
7,467

 
(559
)
 
(19,053
)
Comprehensive loss attributable to noncontrolling interests
—

 
286

 
100

 
—

 
386

Comprehensive loss attributable to FelCor LP
$
(19,169
)
 
$
(6,506
)
 
$
7,567

 
$
(559
)
 
$
(18,667
)


FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Three Months Ended September 30, 2011
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Net loss
$
(22,998
)
 
$
(8,777
)
 
$
7,648

 
$
751

 
$
(23,376
)
Foreign currency translation adjustment
—

 
(3,535
)
 
—

 
—

 
(3,535
)
Comprehensive loss
(22,998
)
 
(12,312
)
 
7,648

 
751

 
(26,911
)
Comprehensive loss attributable to noncontrolling interests
—

 
152

 
226

 
—

 
378

Comprehensive loss attributable to FelCor LP
$
(22,998
)
 
$
(12,160
)
 
$
7,874

 
$
751

 
$
(26,533
)




12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Nine Months Ended September 30, 2012
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Net loss
$
(35,948
)
 
$
(4,136
)
 
$
29,744

 
$
(26,048
)
 
$
(36,388
)
Foreign currency translation adjustment
—

 
493

 
—

 
—

 
493

Comprehensive loss
(35,948
)
 
(3,643
)
 
29,744

 
(26,048
)
 
(35,895
)
Comprehensive loss attributable to noncontrolling interests
—

 
575

 
(135
)
 
—

 
440

Comprehensive loss attributable to FelCor LP
$
(35,948
)
 
$
(3,068
)
 
$
29,609

 
$
(26,048
)
 
$
(35,455
)


FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE LOSS
For the Nine Months Ended September 30, 2011
(in thousands)
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Net loss
$
(97,230
)
 
$
(28,375
)
 
$
26,096

 
$
2,010

 
$
(97,499
)
Foreign currency translation adjustment
—

 
(2,057
)
 
—

 
—

 
(2,057
)
Comprehensive loss
(97,230
)
 
(30,432
)
 
26,096

 
2,010

 
(99,556
)
Comprehensive loss attributable to noncontrolling interests
—

 
305

 
(36
)
 
—

 
269

Comprehensive loss attributable to FelCor LP
$
(97,230
)
 
$
(30,127
)
 
$
26,060

 
$
2,010

 
$
(99,287
)

12.
FelCor LP’s Consolidating Financial Information – (continued)

FELCOR LODGING LIMITED PARTNERSHIP

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2012
(in thousands)

 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Operating activities:
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
$
(36,423
)
 
$
13,966

 
$
95,264

 
$
—

 
$
72,807

Investing activities:
 
 
 
 
 
 
 
 
 
Improvements and additions to hotels
(6,875
)
 
(58,989
)
 
(34,121
)
 
—

 
(99,985
)
Hotel development
—

 
—

 
(16,707
)
 
—

 
(16,707
)
Proceeds from asset dispositions
(14
)
 
22,750

 
101,874

 
—

 
124,610

Distributions from unconsolidated entities
11,894

 
—

 
—

 
—

 
11,894

Intercompany financing
139,246

 
—

 
—

 
(139,246
)
 
—

Other
—

 
4,003

 
(1,405
)
 
—

 
2,598

Cash flows from investing activities
144,251

 
(32,236
)
 
49,641

 
(139,246
)
 
22,410

Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from borrowings
—

 
—

 
378,750

 
—

 
378,750

Repayment of borrowings
(96
)
 
—

 
(395,259
)
 
—

 
(395,355
)
Distributions paid to preferred unitholders
(59,021
)
 
—

 
—

 
—

 
(59,021
)
Intercompany financing
—

 
(12,955
)
 
(126,291
)
 
139,246

 
—

Other
—

 
—

 
(1,342
)
 
—

 
(1,342
)
Cash flows from financing activities
(59,117
)
 
(12,955
)
 
(144,142
)
 
139,246

 
(76,968
)
Effect of exchange rate changes on cash
—

 
112

 
—

 
—

 
112

Change in cash and cash equivalents
48,711

 
(31,113
)
 
763

 
—

 
18,361

Cash and cash equivalents at beginning of period
23,503

 
67,001

 
3,254

 
—

 
93,758

Cash and cash equivalents at end of period
$
72,214

 
$
35,888

 
$
4,017

 
$
—

 
$
112,119


  
12.
FelCor LP’s Consolidating Financial Information – (continued)
  
FELCOR LODGING LIMITED PARTNERSHIP
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the Nine Months Ended September 30, 2011
(in thousands
 
FelCor LP
 
Subsidiary Guarantors
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total Consolidated
Operating activities:
 
 
 
 
 
 
 
 
 
Cash flows from operating activities
$
(65,797
)
 
$
10,612

 
$
91,616

 
$
—

 
$
36,431

Investing activities:
 
 
 
 
 
 
 
 
 
Acquisition of hotels
—

 
(137,985
)
 
—

 
—

 
(137,985
)
Improvements and additions to hotels
(2,228
)
 
(22,699
)
 
(32,543
)
 
—

 
(57,470
)
Proceeds from asset dispositions
14,132

 
(76
)
 
82,379

 
—

 
96,435

Change in restricted cash - investing
—

 
(1,675
)
 
(114,583
)
 
—

 
(116,258
)
Intercompany financing
(445,364
)
 
—

 
—

 
445,364

 
—

Other
1,386

 
391

 
(359
)
 
—

 
1,418

Cash flows from investing activities
(432,074
)
 
(162,044
)
 
(65,106
)
 
445,364

 
(213,860
)
Financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from borrowings
525,000

 
—

 
562,285

 
—

 
1,087,285

Repayment of borrowings
(233,761
)
 
—

 
(878,653
)
 
—

 
(1,112,414
)
Payment of deferred financing fees
(14,017
)
 
—

 
(4,780
)
 
—

 
(18,797
)
Distributions paid to preferred unitholders
(29,035
)
 
—

 
—

 
—

 
(29,035
)
Net proceeds from common unit issuance
158,476

 
—

 
—

 
—

 
158,476

Contributions from noncontrolling interests
—

 
—

 
6,646

 
—

 
6,646

Intercompany financing
—

 
155,807

 
289,557

 
(445,364
)
 
—

Other
2,500

 
—

 
(868
)
 
—

 
1,632

Cash flows from financing activities
409,163

 
155,807

 
(25,813
)
 
(445,364
)
 
93,793

Effect of exchange rate changes on cash
—

 
(153
)
 
—

 
—

 
(153
)
Change in cash and cash equivalents
(88,708
)
 
4,222

 
697

 
—

 
(83,789
)
Cash and cash equivalents at beginning of period
155,350

 
43,647

 
1,975

 
—

 
200,972

Cash and cash equivalents at end of period
$
66,642

 
$
47,869

 
$
2,672

 
$
—

 
$
117,183