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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 24,153 $ 5,976
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,767 68,368
Amortization of deferred financing costs and loan premium, net 1,186 871
Amortization of stock-based compensation 3,902 3,342
Straight-line rents 2,366 (5,658)
Straight-line rent expenses 381 529
Amortization of above- and below-market leases, net (5,732) (4,851)
Amortization of above- and below-market ground lease, net 637 535
Amortization of lease incentive costs 379 328
Bad debt expense 545 537
Amortization of discount and net origination fees on purchased and originated loans 0 (104)
Unrealized (gain) loss on ineffective portion of derivative instruments (6) 2,125
Gains on sale of real estate (16,866) (6,352)
Change in operating assets and liabilities:    
Restricted cash 7,177 (2,001)
Accounts receivable 4,650 4,412
Deferred leasing costs and lease intangibles (6,635) (5,420)
Prepaid expenses and other assets (1,072) (935)
Accounts payable and accrued liabilities 12,378 3,084
Security deposits 1,031 430
Prepaid rent (6,344) (6,319)
Net cash provided by operating activities 92,897 58,897
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (76,225) (54,415)
Proceeds from sales of real estate 81,707 212,629
Contributions to unconsolidated entities (1,071) 0
Deposits for property acquisitions (56,323) 0
Net cash (used in) provided by investing activities (51,912) 158,214
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 0 30,000
Payments of notes payable (300,642) (210,906)
Proceeds from issuance of common stock, net 647,675 0
Payments for redemption of common units in the operating partnership (310,855) 0
Dividends paid to common stock and unitholders (39,919) (29,802)
Dividends paid to preferred unitholders (159) (159)
Contributions from non-controlling member in consolidated entities 103 103
Distributions to non-controlling member in consolidated entities (310) (326)
Payments to satisfy tax withholding (4,203) (1,683)
Payments of loan costs 0 (522)
Net cash used in financing activities (8,310) (213,295)
Net increase in cash and cash equivalents 32,675 3,816
Cash and cash equivalents—beginning of period 83,015 53,551
Cash and cash equivalents—end of period 115,690 57,367
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest, net of amounts capitalized 16,172 12,101
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property 3,501 6,868
Hudson Pacific Partners L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 24,153 5,976
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,767 68,368
Amortization of deferred financing costs and loan premium, net 1,186 871
Amortization of stock-based compensation 3,902 3,342
Straight-line rents 2,366 (5,658)
Straight-line rent expenses 381 529
Amortization of above- and below-market leases, net (5,732) (4,851)
Amortization of above- and below-market ground lease, net 637 535
Amortization of lease incentive costs 379 328
Bad debt expense 545 537
Amortization of discount and net origination fees on purchased and originated loans 0 (104)
Unrealized (gain) loss on ineffective portion of derivative instruments (6) 2,125
Gains on sale of real estate (16,866) (6,352)
Change in operating assets and liabilities:    
Restricted cash 7,177 (2,001)
Accounts receivable 4,650 4,412
Deferred leasing costs and lease intangibles (6,635) (5,420)
Prepaid expenses and other assets (1,072) (935)
Accounts payable and accrued liabilities 12,378 3,084
Security deposits 1,031 430
Prepaid rent (6,344) (6,319)
Net cash provided by operating activities 92,897 58,897
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (76,225) (54,415)
Proceeds from sales of real estate 81,707 212,629
Contributions to unconsolidated entities (1,071) 0
Deposits for property acquisitions (56,323) 0
Net cash (used in) provided by investing activities (51,912) 158,214
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 0 30,000
Payments of notes payable (300,642) (210,906)
Proceeds from issuance of common stock, net 647,675 0
Payments for redemption of common units in the operating partnership (310,855) 0
Dividends paid to common stock and unitholders (39,919) (29,802)
Dividends paid to preferred unitholders (159) (159)
Contributions from non-controlling member in consolidated entities 103 103
Distributions to non-controlling member in consolidated entities (310) (326)
Payments to satisfy tax withholding (4,203) (1,683)
Payments of loan costs 0 (522)
Net cash used in financing activities (8,310) (213,295)
Net increase in cash and cash equivalents 32,675 3,816
Cash and cash equivalents—beginning of period 83,015 53,551
Cash and cash equivalents—end of period 115,690 57,367
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest, net of amounts capitalized 16,172 12,101
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property $ 3,501 $ 6,868