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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 52,563 $ 24,153
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,553 70,767
Non-cash portion of interest expense 1,658 1,186
Amortization of stock-based compensation 4,338 3,902
Straight-line rents (9,942) 2,366
Straight-line rent expenses 136 381
Amortization of above- and below-market leases, net (3,811) (5,732)
Amortization of above- and below-market ground lease, net 624 637
Amortization of lease incentive costs 303 379
Other non-cash adjustments [1] 256 539
Gains on sale of real estate (37,674) (16,866)
Change in operating assets and liabilities:    
Accounts receivable (1,782) 4,650
Deferred leasing costs and lease intangibles (6,614) (6,635)
Prepaid expenses and other assets 3,313 (1,072)
Accounts payable and accrued liabilities (33) 12,378
Security deposits and prepaid rent 559 (5,313)
Net cash provided by operating activities 64,447 85,720
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (103,512) (76,225)
Proceeds from sale of real estate 237,004 81,707
Contributions to unconsolidated entity 0 (1,071)
Deposits for property acquisitions 0 (56,323)
Net cash provided by (used in) investing activities 133,492 (51,912)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 130,000 0
Payments of notes payable (308,529) (300,642)
Proceeds from issuance of common stock, net (173) 647,675
Payment for redemption of common units in the operating partnership 0 (310,855)
Distributions paid to common stock and unitholders (39,351) (39,919)
Distributions paid to preferred unitholders (159) (159)
Contributions from non-controlling member in consolidated entities 2,691 103
Distributions to non-controlling member in consolidated entities (1,060) (310)
Payments to satisfy tax withholding (693) (4,203)
Payments of loan costs (6,965) 0
Net cash used in financing activities (224,239) (8,310)
Net increase in cash and cash equivalents and restricted cash (26,300) 25,498
Cash and cash equivalents and restricted cash—beginning of period 101,280 108,192
Cash and cash equivalents and restricted cash—end of period 74,980 133,690
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest, net of capitalized interest 12,915 16,172
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property 20,462 3,501
Hudson Pacific Partners L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 52,563 24,153
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,553 70,767
Non-cash portion of interest expense 1,658 1,186
Amortization of stock-based compensation 4,338 3,902
Straight-line rents (9,942) 2,366
Straight-line rent expenses 136 381
Amortization of above- and below-market leases, net (3,811) (5,732)
Amortization of above- and below-market ground lease, net 624 637
Amortization of lease incentive costs 303 379
Other non-cash adjustments [1] 256 539
Gains on sale of real estate (37,674) (16,866)
Change in operating assets and liabilities:    
Accounts receivable (1,782) 4,650
Deferred leasing costs and lease intangibles (6,614) (6,635)
Prepaid expenses and other assets 3,313 (1,072)
Accounts payable and accrued liabilities (33) 12,378
Security deposits and prepaid rent 559 (5,313)
Net cash provided by operating activities 64,447 85,720
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to investment property (103,512) (76,225)
Proceeds from sale of real estate 237,004 81,707
Contributions to unconsolidated entity 0 (1,071)
Deposits for property acquisitions 0 (56,323)
Net cash provided by (used in) investing activities 133,492 (51,912)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from notes payable 130,000 0
Payments of notes payable (308,529) (300,642)
Proceeds from issuance of common stock, net (173) 647,675
Payment for redemption of common units in the operating partnership 0 (310,855)
Distributions paid to common stock and unitholders (39,351) (39,919)
Distributions paid to preferred unitholders (159) (159)
Contributions from non-controlling member in consolidated entities 2,691 103
Distributions to non-controlling member in consolidated entities (1,060) (310)
Payments to satisfy tax withholding (693) (4,203)
Payments of loan costs (6,965) 0
Net cash used in financing activities (224,239) (8,310)
Net increase in cash and cash equivalents and restricted cash (26,300) 25,498
Cash and cash equivalents and restricted cash—beginning of period 101,280 108,192
Cash and cash equivalents and restricted cash—end of period 74,980 133,690
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest, net of capitalized interest 12,915 16,172
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accounts payable and accrued liabilities for investment in property $ 20,462 $ 3,501
[1] Represents bad debt expense/recovery and unrealized loss/gain on ineffective portion of derivative instruments.