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CONSOLIDATED STATEMENTS OF CASH FLOWS L.P. - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (53,355) $ (14,817)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 91,854 97,139
Non-cash interest expense 1,915 7,371
Amortization of stock-based compensation 6,567 5,236
Loss from unconsolidated real estate entities 743 745
Unrealized loss (gain) on non-real estate investments 898 (839)
Straight-line rents 3,102 (10,711)
Straight-line rent expenses 1,033 1,268
Amortization of above- and below-market leases, net (1,421) (1,620)
Amortization of above- and below-market ground leases, net 662 688
Amortization of lease incentive costs 139 311
Gain on sale of real estate 0 (7,046)
Deferred tax benefit (8) 0
Change in operating assets and liabilities:    
Accounts receivable 596 1,756
Deferred leasing costs and lease intangibles (3,925) (6,139)
Prepaid expenses and other assets 7,675 (3,537)
Accounts payable, accrued liabilities and other 10,340 15,294
Security deposits, prepaid rent and other (1,687) 7,417
Net cash provided by operating activities 65,128 92,516
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 0 100,441
Additions to investment in real estate (44,805) (76,452)
Contributions to non-real estate investments (547) (901)
Proceeds from sales of non-real estate investments 0 503
Distributions from unconsolidated real estate entities 0 668
Contributions to unconsolidated real estate entities (20,933) (12,986)
Additions to non-real estate property, plant and equipment (5,075) (774)
Net cash (used in) provided by investing activities (71,360) 10,499
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 98,000 55,783
Payments of unsecured and secured debt (10,000) (212,000)
Repurchases of common stock 0 (1,369)
Dividends paid to common stock and unitholders (7,869) (36,665)
Dividends paid to preferred stock and unitholders (5,200) (5,200)
Distributions to redeemable non-controlling members in consolidated real estate entities (3,917) (3,248)
Contributions from non-controlling members in consolidated real estate entities 4,704 6,497
Purchase of non-controlling interest (40,937) 0
Distributions to non-controlling members in consolidated real estate entities (14,085) (9,559)
Payments to satisfy tax withholding obligations (48) (87)
Net cash provided by (used in) financing activities 20,648 (205,848)
Net increase (decrease) in cash and cash equivalents and restricted cash 14,416 (102,833)
Cash and cash equivalents and restricted cash—beginning of period 119,156 285,731
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD 133,572 182,898
Hudson Pacific Partners L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss (53,355) (14,817)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 91,854 97,139
Non-cash interest expense 1,915 7,371
Amortization of stock-based compensation 6,567 5,236
Loss from unconsolidated real estate entities 743 745
Unrealized loss (gain) on non-real estate investments 898 (839)
Straight-line rents 3,102 (10,711)
Straight-line rent expenses 1,033 1,268
Amortization of above- and below-market leases, net (1,421) (1,620)
Amortization of above- and below-market ground leases, net 662 688
Amortization of lease incentive costs 139 311
Gain on sale of real estate 0 (7,046)
Deferred tax benefit (8) 0
Change in operating assets and liabilities:    
Accounts receivable 596 1,756
Deferred leasing costs and lease intangibles (3,925) (6,139)
Prepaid expenses and other assets 7,675 (3,537)
Accounts payable, accrued liabilities and other 10,340 15,294
Security deposits, prepaid rent and other (1,687) 7,417
Net cash provided by operating activities 65,128 92,516
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sales of real estate 0 100,441
Additions to investment in real estate (44,805) (76,452)
Contributions to non-real estate investments (547) (901)
Proceeds from sales of non-real estate investments 0 503
Distributions from unconsolidated real estate entities 0 668
Contributions to unconsolidated real estate entities (20,933) (12,986)
Additions to non-real estate property, plant and equipment (5,075) (774)
Net cash (used in) provided by investing activities (71,360) 10,499
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from unsecured and secured debt 98,000 55,783
Payments of unsecured and secured debt (10,000) (212,000)
Repurchases of common stock 0 (1,369)
Dividends paid to common stock and unitholders (7,869) (36,665)
Dividends paid to preferred stock and unitholders (5,200) (5,200)
Distributions to redeemable non-controlling members in consolidated real estate entities (3,917) (3,248)
Contributions from non-controlling members in consolidated real estate entities 4,704 6,497
Purchase of non-controlling interest (40,937) 0
Distributions to non-controlling members in consolidated real estate entities (14,085) (9,559)
Payments to satisfy tax withholding obligations (48) (87)
Net cash provided by (used in) financing activities 20,648 (205,848)
Net increase (decrease) in cash and cash equivalents and restricted cash 14,416 (102,833)
Cash and cash equivalents and restricted cash—beginning of period 119,156 285,731
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—END OF PERIOD $ 133,572 $ 182,898