XML 21 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 10,011 $ (11,509)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 134,476 90,750
Amortization of deferred financing costs and loan premium, net 2,134 1,915
Amortization of stock-based compensation 6,643 4,152
Straight-line rents (11,281) (14,789)
Straight-line rent expenses 750 0
Amortization Of Above And Below Market Leases, Net (9,302) (11,857)
Amortization Of Above And Below Market Ground Leases, Net 1,070 577
Amortization of Deferred Leasing Fees 655 282
Provision for Doubtful Accounts 512 391
Amortization of discount and net origination fees on purchased and originated loans (208) (208)
Unrealized loss on ineffective portion of derivative instruments 2,509 0
Gains from sale of real estate (8,515) (22,100)
Change in operating assets and liabilities:    
Restricted cash (1,156) (236)
Accounts receivable 10,001 3,610
Deferred leasing costs and lease intangibles (25,725) (13,766)
Prepaid expenses and other assets (5,882) (13,859)
Accounts payable and accrued liabilities 5,619 21,838
Security deposits 4,214 14,517
Prepaid rent (8,814) 13,843
Net cash provided by operating activities 107,711 63,551
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (104,112) (69,621)
Property acquisitions 0 (1,764,596)
Contributions to unconsolidated entity (28,393) 0
Proceeds from repayment of notes receivable 28,892 0
Proceeds from sale of real estate 283,855 87,680
Deposits for property acquisitions (20,000) (1,500)
Net cash provided by (used for) investing activities 160,242 (1,748,037)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 677,000 1,368,155
Payments of notes payable (597,416) (208,633)
Proceeds from issuance of common stock 294,209 385,589
Payment for redemption of common units in the operating partnership (294,209) 0
Common stock issuance transaction costs (581) (4,754)
Dividends paid to common stock and unitholders (59,119) (28,511)
Dividends paid to preferred stock and unitholders (318) (6,390)
Contributions from non-controlling member in consolidated real estate entities 103 217,795
Distributions to non-controlling member in consolidated real estate entities (663) (1,424)
Payments to satisfy minimum tax withholding (1,776) (1,834)
Payments of loan costs (1,334) (12,933)
Net cash provided by financing activities 15,896 1,707,060
Net increase in cash and cash equivalents 283,849 22,574
Cash and cash equivalents—beginning of period 53,551 17,753
Cash and cash equivalents—end of period 337,400 40,327
SUPPLEMENTAL CASH FLOWS INFORMATION:    
Cash paid for interest, net of amounts capitalized 38,714 32,107
NON-CASH INVESTING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property (8,866) (15,770)
Hudson Pacific Partners L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) 10,011 (11,509)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 134,476 90,750
Amortization of deferred financing costs and loan premium, net 2,134 1,915
Amortization of stock-based compensation 6,643 4,152
Straight-line rents (11,281) (14,789)
Straight-line rent expenses 750 0
Amortization Of Above And Below Market Leases, Net (9,302) (11,857)
Amortization Of Above And Below Market Ground Leases, Net 1,070 577
Amortization of Deferred Leasing Fees 655 282
Provision for Doubtful Accounts 512 391
Amortization of discount and net origination fees on purchased and originated loans (208) (208)
Unrealized loss on ineffective portion of derivative instruments 2,509 0
Gains from sale of real estate (8,515) (22,100)
Change in operating assets and liabilities:    
Restricted cash (1,156) (236)
Accounts receivable 10,001 3,610
Deferred leasing costs and lease intangibles (25,725) (13,766)
Prepaid expenses and other assets (5,882) (13,859)
Accounts payable and accrued liabilities 5,619 21,838
Security deposits 4,214 14,517
Prepaid rent (8,814) 13,843
Net cash provided by operating activities 107,711 63,551
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (104,112) (69,621)
Property acquisitions 0 (1,764,596)
Contributions to unconsolidated entity (28,393) 0
Proceeds from repayment of notes receivable 28,892  
Proceeds from sale of real estate 283,855 87,680
Deposits for property acquisitions (20,000) (1,500)
Net cash provided by (used for) investing activities 160,242 (1,748,037)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 677,000 1,368,155
Payments of notes payable (597,416) (208,633)
Proceeds from issuance of common stock 294,209 385,589
Payment for redemption of common units in the operating partnership (294,209) 0
Common stock issuance transaction costs (581) (4,754)
Dividends paid to common stock and unitholders (59,119) (28,511)
Dividends paid to preferred stock and unitholders (318) (6,390)
Contributions from non-controlling member in consolidated real estate entities 103 217,795
Distributions to non-controlling member in consolidated real estate entities (663) (1,424)
Payments to satisfy minimum tax withholding (1,776) (1,834)
Payments of loan costs (1,334) (12,933)
Net cash provided by financing activities 15,896 1,707,060
Net increase in cash and cash equivalents 283,849 22,574
Cash and cash equivalents—beginning of period 53,551 17,753
Cash and cash equivalents—end of period 337,400 40,327
SUPPLEMENTAL CASH FLOWS INFORMATION:    
Cash paid for interest, net of amounts capitalized 38,714 32,107
NON-CASH INVESTING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property (8,866) (15,770)
Common units in the operating partnership in connection with property acquisition 0 2,100,381
Common Units    
NON-CASH INVESTING ACTIVITIES:    
Noncash investing activities, property acquisition 0 87
Additional Paid-in Capital    
NON-CASH INVESTING ACTIVITIES:    
Noncash investing activities, property acquisition 0 285,358
Non-controlling interest—units in the operating partnership    
NON-CASH INVESTING ACTIVITIES:    
Noncash investing activities, property acquisition $ 0 $ 1,814,936