10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2010 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
(In Thousands, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
REVENUES | |||
COSTS AND EXPENSES | |||
Real estate impairment losses | $ (182,866) | ||
OTHER INCOME AND EXPENSES | |||
Discontinued operations: | |||
Noncontrolling interests' share of net (income) loss: | |||
Income (loss) available to common unitholders attributable to: | |||
Basic income (loss) per common share attributable to common stockholders | |||
Basic income (loss) per common unit attributable to common unitholders | |||
Diluted income (loss) per common share attributable to common stockholders | |||
Diluted income (loss) per common unit attributable to common unitholders | |||
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | |||
WEIGHTED AVERAGE COMMON UNITS OUTSTANDING | |||
Legal Entity | |||
AMB PROPERTY CORPORATION | |||
Class of Stock | |||
Preferred Stock | |||
Net income (loss) | 15,806 | 15,806 | 15,806 |
Rental revenues | 602,640 | 580,411 | 609,187 |
Private capital revenues | 30,860 | 38,013 | 68,472 |
Total revenues | 633,500 | 618,424 | 677,659 |
Property operating costs | (110,715) | (107,246) | (97,953) |
Real estate taxes | (77,995) | (76,025) | (75,904) |
Depreciation and amortization | (196,636) | (175,334) | (161,000) |
General and administrative | (124,364) | (115,342) | (143,962) |
Restructuring charges | (4,874) | (6,368) | (12,306) |
Fund costs | (791) | (1,062) | (1,078) |
Real estate impairment losses | (172,059) | (182,866) | |
Other expenses | (3,197) | (8,681) | (520) |
Total costs and expenses | (518,572) | (662,117) | (675,589) |
Development profits, net of taxes | 6,739 | 35,874 | 81,084 |
Gains from sale or contribution of real estate interests, net | 19,967 | ||
Equity in earnings of unconsolidated joint ventures, net | 17,372 | 11,331 | 17,121 |
Other income (expense) | 3,543 | 3,440 | (3,126) |
Interest expense, including amortization | (130,338) | (118,867) | (134,249) |
Loss on early extinguishment of debt | (2,892) | (12,267) | (786) |
Total other income and expenses, net | (105,576) | (80,489) | (19,989) |
Income (loss) from continuing operations | 9,352 | (124,182) | (17,919) |
Income attributable to discontinued operations | 3,994 | 4,502 | 8,575 |
Development profits, net of taxes | 53,002 | ||
Gains from sale of real estate interests, net of taxes | 20,248 | 38,718 | 2,594 |
Total discontinued operations | 24,242 | 96,222 | 11,169 |
Net income (loss) | 33,594 | (27,960) | (6,750) |
Joint venture partners' share of net income | (6,278) | (11,063) | (32,855) |
Joint venture partners' and limited partnership unitholders' share of development profits, net of tax | (109) | (3,308) | (9,041) |
Preferred unitholders | (4,295) | (5,727) | |
Limited partnership unitholders | (88) | 3,625 | 5,063 |
Total noncontrolling interests' share of net income | (6,475) | (15,041) | (42,560) |
Net income (loss) attributable to AMB Property Corporation | 27,119 | (43,001) | (49,310) |
Preferred stock dividends | (15,806) | (15,806) | (15,806) |
Preferred unit redemption discount | 9,759 | ||
Allocation to participating securities | (1,346) | (1,029) | (1,335) |
Net income (loss) available to common stockholders | 9,967 | (50,077) | (66,451) |
Loss from continuing operations (after preferred stock dividends) | (0.08) | (1.01) | (0.77) |
Discontinued operations | 0.14 | 0.64 | 0.09 |
Net income (loss) available to common stockholders | 0.06 | (0.37) | (0.68) |
Loss from continuing operations (after preferred stock dividends) | (0.08) | (1.01) | (0.77) |
Discontinued operations | 0.14 | 0.64 | 0.09 |
Net income (loss) available to common stockholders | 0.06 | (0.37) | (0.68) |
Basic | 161,988,053 | 134,321,231 | 97,403,659 |
Diluted | 161,988,053 | 134,321,231 | 97,403,659 |
AMB PROPERTY, L.P. | |||
Rental revenues | 602,640 | 580,411 | 609,187 |
Private capital revenues | 30,860 | 38,013 | 68,472 |
Total revenues | 633,500 | 618,424 | 677,659 |
Property operating costs | (110,715) | (107,246) | (97,953) |
Real estate taxes | (77,995) | (76,025) | (75,904) |
Depreciation and amortization | (196,636) | (175,334) | (161,000) |
General and administrative | (124,364) | (115,342) | (143,962) |
Restructuring charges | (4,874) | (6,368) | (12,306) |
Fund costs | (791) | (1,062) | (1,078) |
Real estate impairment losses | (172,059) | (182,866) | |
Other expenses | (3,197) | (8,681) | (520) |
Total costs and expenses | (518,572) | (662,117) | (675,589) |
Development profits, net of taxes | 6,739 | 35,874 | 81,084 |
Gains from sale or contribution of real estate interests, net | 19,967 | ||
Equity in earnings of unconsolidated joint ventures, net | 17,372 | 11,331 | 17,121 |
Other income (expense) | 3,543 | 3,440 | (3,126) |
Interest expense, including amortization | (130,338) | (118,867) | (134,249) |
Loss on early extinguishment of debt | (2,892) | (12,267) | (786) |
Total other income and expenses, net | (105,576) | (80,489) | (19,989) |
Income (loss) from continuing operations | 9,352 | (124,182) | (17,919) |
Income attributable to discontinued operations | 3,994 | 4,502 | 8,575 |
Development profits, net of taxes | 53,002 | ||
Gains from sale of real estate interests, net of taxes | 20,248 | 38,718 | 2,594 |
Total discontinued operations | 24,242 | 96,222 | 11,169 |
Net income (loss) | 33,594 | (27,960) | (6,750) |
Joint venture partners' share of net income | (6,278) | (11,063) | (32,855) |
Joint venture partners' and Class B limited partnership unitholders' share of development profits, net of tax | (16) | (1,804) | (6,219) |
Preferred unitholders | (4,295) | (5,727) | |
Limited partnership unitholders | (26) | 1,332 | 1,459 |
Total noncontrolling interests' share of net income | (6,320) | (15,830) | (43,342) |
Net income (loss) attributable to AMB Property Corporation | 27,274 | (43,790) | (50,092) |
Preferred stock dividends | (15,806) | (15,806) | (15,806) |
Preferred unit redemption discount | 9,759 | ||
Allocation to participating securities | (1,346) | (1,029) | (1,335) |
Net income (loss) available to common unitholders | 10,122 | (50,866) | (67,233) |
General partner | 9,967 | (50,077) | (66,451) |
Limited partners | 155 | (789) | (782) |
Net income (loss) available to common unitholders | 10,122 | (50,866) | (67,233) |
Loss from continuing operations (after preferred stock distributions) | (0.08) | (1.02) | (0.75) |
Discontinued operations | 0.14 | 0.65 | 0.09 |
Net income( loss) available to common unitholders | 0.06 | (0.37) | (0.66) |
(Loss) income from continuing operations (after preferred unit distributions) | (0.08) | (1.02) | (0.75) |
Discontinued operations | 0.14 | 0.65 | 0.09 |
Net income (loss) available to common unitholders | 0.06 | (0.37) | (0.66) |
Basic | 164,290,475 | 136,484,612 | 101,253,972 |
Diluted | 164,290,475 | 136,484,612 | 101,253,972 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | |||
(In Thousands, except shares in actual) | |||
12 Months Ended | 12 Months Ended | 12 Months Ended | |
Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Adjustments to net income (loss) : | |||
Real estate impairment losses | $ 182,866 | ||
Discontinued operations: | |||
Changes in assets and liabilities: | |||
CASH FLOWS FROM INVESTING ACTIVITIES | |||
CASH FLOWS FROM FINANCING ACTIVITIES | |||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | |||
Non-cash transactions: | |||
Legal Entity | |||
AMB PROPERTY CORPORATION | |||
Net income (loss) | 33,594 | (27,960) | (6,750) |
Straight-line rents and amortization of lease intangibles | (16,305) | (10,531) | (10,549) |
Depreciation and amortization | 196,636 | 175,334 | 161,000 |
Real estate impairment losses | 172,059 | 182,866 | |
Foreign exchange (gains) losses | (1,459) | 6,081 | 1,043 |
Stock-based compensation amortization | 23,941 | 23,049 | 21,467 |
Equity in earnings of unconsolidated joint ventures | (17,372) | (11,331) | (17,121) |
Operating distributions received from unconsolidated joint ventures | 25,424 | 11,687 | 24,279 |
Gains from sale or contribution of real estate interests, net of taxes | (19,967) | ||
Development profits, net of taxes | (6,739) | (35,874) | (81,084) |
Debt premiums, discounts and finance cost amortization, net | 23,127 | 21,866 | 9,192 |
Depreciation and amortization | 3,447 | 6,602 | 8,199 |
Real estate impairment losses | 9,794 | 11,052 | |
Development profits, net of taxes | (53,002) | ||
Gains from sale of real estate interests, net of taxes | (20,248) | (38,718) | (2,594) |
Accounts receivable and other assets | (18,328) | 17,311 | 27,776 |
Accounts payable and other liabilities | 27,042 | (23,254) | (6,195) |
Net cash provided by operating activities | 252,760 | 243,113 | 302,614 |
Change in restricted cash | (9,189) | (2,312) | (671) |
Cash paid for property acquisitions | (13,000) | (195,554) | |
Additions to land, buildings, development costs, building improvements and lease costs | (259,919) | (402,349) | (1,020,819) |
Net proceeds from divestiture of real estate and securities | 101,660 | 482,515 | 421,647 |
Additions to interests in unconsolidated joint ventures | (413,451) | (7,447) | (52,267) |
Repayment of mortgage and loan receivables | 81,542 | ||
Capital distributions received from unconsolidated joint ventures | 2,182 | 9,457 | 35,012 |
Cash transferred to unconsolidated joint ventures | (357) | (16,848) | |
Repayments from (loans made to) affiliates | 5,089 | 4,590 | (73,480) |
Purchase of equity interests, net | (60,330) | ||
Net cash (used in) provided by investing activities | (586,628) | 84,097 | (881,768) |
Issuance of common stock, net | 478,847 | 552,319 | |
Proceeds from stock option exercises | 7,288 | 1,823 | 4,213 |
Purchase of noncontrolling interest | (9,926) | (8,968) | |
Repurchase and retirement of common stock | (87,696) | ||
Borrowings on secured debt | 184,114 | 147,995 | 641,572 |
Payments on secured debt | (332,209) | (478,699) | (210,440) |
Borrowings on other debt | 206,046 | 219,045 | 525,000 |
Payments on other debt | (292,030) | (122,632) | (212,547) |
Borrowings on unsecured credit facilities | 654,275 | 704,639 | 1,913,126 |
Payments on unsecured credit facilities | (892,057) | (1,147,258) | (1,856,734) |
Payment of financing fees | (38,340) | (25,187) | (14,931) |
Net proceeds from issuances of senior debt | 571,622 | 500,000 | 325,000 |
Payments on senior debt | (48,500) | (497,103) | (175,000) |
Issuance, redemption or repurchases of preferred stock or units | (322) | (10) | |
Forfeiture of stock | (3,584) | (837) | (1,594) |
Contributions from noncontrolling interests | 50,990 | 15,117 | 16,695 |
Dividends paid to common and preferred stockholders | (193,428) | (137,108) | (220,476) |
Distributions to noncontrolling interests, including preferred units | (13,374) | (21,178) | (66,007) |
Net cash provided by (used in) financing activities | 329,734 | (298,354) | 580,171 |
Net effect of exchange rate changes on cash | 15,389 | (65,623) | 2,695 |
Net increase (decrease) in cash and cash equivalents | 11,255 | (36,767) | 3,712 |
Cash and cash equivalents at beginning of period | 198,424 | 223,936 | 223,936 |
Cash and cash equivalents at end of period | 198,424 | 223,936 | 223,936 |
Cash paid for interest, net of capitalized interest | 122,198 | 108,901 | 137,613 |
Acquisition of properties | 13,337 | 227,612 | |
Assumption of secured debt | (16,843) | ||
Assumption of other assets and liabilities | (7,564) | ||
Acquisition capital | (337) | (7,651) | |
Net cash paid for property acquisitions | 13,000 | 195,554 | |
Preferred unit redemption (discount) issuance costs | (9,759) | ||
Contribution of properties to unconsolidated joint ventures, net | 22,391 | 41,379 | 114,423 |
Exchange of common stock for preferred units | 67,802 | ||
Stock proceeds from stock option exercises | 10,384 | ||
AMB PROPERTY, L.P. | |||
Net income (loss) | 33,594 | (27,960) | (6,750) |
Straight-line rents and amortization of lease intangibles | (16,305) | (10,531) | (10,549) |
Depreciation and amortization | 196,636 | 175,334 | 161,000 |
Real estate impairment losses | 172,059 | 182,866 | |
Foreign exchange (gains) losses | (1,459) | 6,081 | 1,043 |
Stock-based compensation amortization | 23,941 | 23,049 | 21,467 |
Equity in earnings of unconsolidated joint ventures | (17,372) | (11,331) | (17,121) |
Operating distributions received from unconsolidated joint ventures | 25,424 | 11,687 | 24,279 |
Gains from sale or contribution of real estate interests, net of taxes | (19,967) | ||
Development profits, net of taxes | (6,739) | (35,874) | (81,084) |
Debt premiums, discounts and finance cost amortization, net | 23,127 | 21,866 | 9,192 |
Depreciation and amortization | 3,447 | 6,602 | 8,199 |
Real estate impairment losses | 9,794 | 11,052 | |
Development profits, net of taxes | (53,002) | ||
Gains from sale of real estate interests, net of taxes | (20,248) | (38,718) | (2,594) |
Accounts receivable and other assets | (18,328) | 17,311 | 27,776 |
Accounts payable and other liabilities | 27,042 | (23,254) | (6,195) |
Net cash provided by operating activities | 252,760 | 243,113 | 302,614 |
Change in restricted cash | (9,189) | (2,312) | (671) |
Cash paid for property acquisitions | (13,000) | (195,554) | |
Additions to land, buildings, development costs, building improvements and lease costs | (259,919) | (402,349) | (1,020,819) |
Net proceeds from divestiture of real estate and securities | 101,660 | 482,515 | 421,647 |
Additions to interests in unconsolidated joint ventures | (413,451) | (7,447) | (52,267) |
Repayment of mortgage and loan receivables | 81,542 | ||
Capital distributions received from unconsolidated joint ventures | 2,182 | 9,457 | 35,012 |
Cash transferred to unconsolidated joint ventures | (357) | (16,848) | |
Repayments from (loans made to) affiliates | 5,089 | 4,590 | (73,480) |
Purchase of equity interests, net | (60,330) | ||
Net cash (used in) provided by investing activities | (586,628) | 84,097 | (881,768) |
Issuance of common stock, net | 478,847 | 552,319 | |
Proceeds from stock option exercises | 7,288 | 1,823 | 4,213 |
Purchase of noncontrolling interest | (9,926) | (8,968) | |
Repurchase and retirement of common stock | (87,696) | ||
Borrowings on secured debt | 184,114 | 147,995 | 641,572 |
Payments on secured debt | (332,209) | (478,699) | (210,440) |
Borrowings on other debt | 206,046 | 219,045 | 525,000 |
Payments on other debt | (292,030) | (122,632) | (212,547) |
Borrowings on unsecured credit facilities | 654,275 | 704,639 | 1,913,126 |
Payments on unsecured credit facilities | (892,057) | (1,147,258) | (1,856,734) |
Payment of financing fees | (38,340) | (25,187) | (14,931) |
Net proceeds from issuances of senior debt | 571,622 | 500,000 | 325,000 |
Payments on senior debt | (48,500) | (497,103) | (175,000) |
Issuance, redemption or repurchases of preferred stock or units | (322) | (10) | |
Forfeiture of stock | (3,584) | (837) | (1,594) |
Contributions from noncontrolling interests | 50,990 | 15,117 | 16,695 |
Distributions paid to partners | (195,755) | (139,515) | (224,549) |
Distributions to noncontrolling interests, including preferred units | (11,047) | (18,771) | (61,934) |
Net cash provided by (used in) financing activities | 329,734 | (298,354) | 580,171 |
Net effect of exchange rate changes on cash | 15,389 | (65,623) | 2,695 |
Net increase (decrease) in cash and cash equivalents | 11,255 | (36,767) | 3,712 |
Cash and cash equivalents at beginning of period | 198,424 | 223,936 | 223,936 |
Cash and cash equivalents at end of period | 198,424 | 223,936 | 223,936 |
Cash paid for interest, net of capitalized interest | 122,198 | 108,901 | 137,613 |
Acquisition of properties | 13,337 | 227,612 | |
Assumption of secured debt | (16,843) | ||
Assumption of other assets and liabilities | (7,564) | ||
Acquisition capital | (337) | (7,651) | |
Net cash paid for property acquisitions | 13,000 | 195,554 | |
Preferred unit redemption (discount) issuance costs | (9,759) | ||
Contribution of properties to unconsolidated joint ventures, net | 22,391 | 41,379 | 114,423 |
Exchange of common stock for preferred units | 67,802 | ||
Unit proceeds received from stock option exercises | 10,384 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PROLOGIS, INC. | ||
Ticker: PLD Fiscal Year: 2010 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011) | ||
(In Thousands, except shares in actual) | ||
As of | As of | |
Dec 31, 2010 | Dec 31, 2009 | |
ASSETS | ||
Investments in real estate: | ||
LIABILITIES AND EQUITY | ||
Liabilities: | ||
Debt: | ||
Stockholders' equity: | ||
Partners' capital: | ||
Noncontrolling interests: | ||
Legal Entity | ||
AMB PROPERTY CORPORATION | ||
Class of Stock | ||
Preferred Stock | ||
Total equity | $ 223,412 | 223,412 |
Series L Preferred Stock | ||
Preferred stock, cumulative, redeemable | 48,017 | 48,017 |
Series M Preferred Stock | ||
Preferred stock, cumulative, redeemable | 55,187 | 55,187 |
Land | 1,396,321 | 1,317,461 |
Land held for development | 672,883 | 591,489 |
Buildings and improvements | 4,808,667 | 4,439,313 |
Construction in progress | 28,305 | 360,397 |
Total investments in properties | 6,906,176 | 6,708,660 |
Accumulated depreciation and amortization | (1,268,093) | (1,113,808) |
Net investments in properties | 5,638,083 | 5,594,852 |
Investments in unconsolidated joint ventures | 883,241 | 462,130 |
Properties held for sale or contribution, net | 242,098 | 214,426 |
Net investments in real estate | 6,763,422 | 6,271,408 |
Cash and cash equivalents | 198,424 | 187,169 |
Restricted cash | 29,991 | 18,908 |
Accounts receivable, net of allowance for doubtful accounts of $9,551 and $11,715, respectively | 167,735 | 155,958 |
Deferred financing costs, net | 38,079 | 24,883 |
Other assets | 175,244 | 183,632 |
Total assets | 7,372,895 | 6,841,958 |
Secured debt | 962,434 | 1,096,554 |
Unsecured senior debt | 1,685,956 | 1,155,529 |
Unsecured credit facilities | 268,933 | 477,630 |
Other debt | 413,976 | 482,883 |
Total debt | 3,331,299 | 3,212,596 |
Security deposits | 57,555 | 53,283 |
Dividends payable | 51,400 | 46,041 |
Accounts payable and other liabilities | 230,519 | 238,718 |
Total liabilities | 3,670,773 | 3,550,638 |
Commitments and contingencies (Note 18) | ||
Common stock, $.01 par value, 500,000,000 shares authorized, 168,736,081 and 149,258,376 issued and outstanding, respectively | 1,684 | 1,489 |
Additional paid-in capital | 3,071,134 | 2,740,307 |
Retained deficit | (17,695) | (29,008) |
Accumulated other comprehensive income | 42,188 | 3,816 |
Total stockholders' equity | 3,320,723 | 2,940,016 |
Joint venture partners | 325,590 | 289,909 |
Limited partnership unitholders | 55,809 | 61,395 |
Total noncontrolling interests | 381,399 | 351,304 |
Total equity | 3,702,122 | 3,291,320 |
Total liabilities and equity | 7,372,895 | 6,841,958 |
Series O Preferred Stock | ||
Preferred stock, cumulative, redeemable | 72,127 | 72,127 |
Series P Preferred Stock | ||
Preferred stock, cumulative, redeemable | 48,081 | 48,081 |
AMB PROPERTY, L.P. | ||
Land | 1,396,321 | 1,317,461 |
Land held for development | 672,883 | 591,489 |
Buildings and improvements | 4,808,667 | 4,439,313 |
Construction in progress | 28,305 | 360,397 |
Total investments in properties | 6,906,176 | 6,708,660 |
Accumulated depreciation and amortization | (1,268,093) | 1,113,808 |
Net investments in properties | 5,638,083 | 5,594,852 |
Investments in unconsolidated joint ventures | 883,241 | 462,130 |
Properties held for sale or contribution, net | 242,098 | 214,426 |
Net investments in real estate | 6,763,422 | 6,271,408 |
Cash and cash equivalents | 198,424 | 187,169 |
Restricted cash | 29,991 | 18,908 |
Accounts receivable, net of allowance for doubtful accounts of $9,551 and $11,715, respectively | 167,735 | 155,958 |
Deferred financing costs, net | 38,079 | 24,883 |
Other assets | 175,244 | 183,632 |
Total assets | 7,372,895 | 6,841,958 |
Secured debt | 962,434 | 1,096,554 |
Unsecured senior debt | 1,685,956 | 1,155,529 |
Unsecured credit facilities | 268,933 | 477,630 |
Other debt | 413,976 | 482,883 |
Total debt | 3,331,299 | 3,212,596 |
Security deposits | 57,555 | 53,283 |
Dividends payable | 51,400 | 46,041 |
Accounts payable and other liabilities | 230,519 | 238,718 |
Total liabilities | 3,670,773 | 3,550,638 |
Commitments and contingencies (Note 18) | ||
General partner, 168,506,670 and 149,028,965 units outstanding, respectively; 2,000,000 Series L preferred units issued and outstanding with a $50,000 liquidation preference, 2,300,000 Series M preferred units issued and outstanding with a $57,500 liquidation preference, 3,000,000 Series O preferred units issued and outstanding with a $75,000 liquidation preference and 2,000,000 Series P preferred units issued and outstanding with a $50,000 liquidation preference | 3,320,723 | 2,940,016 |
Limited partners, 2,058,730 and 2,119,928 units outstanding, respectively | 37,773 | 38,561 |
Total partners' capital | 3,358,496 | 2,978,577 |
Joint venture partners | 325,590 | 289,909 |
Limited partnership unitholders | 18,036 | 22,834 |
Total noncontrolling interests | 343,626 | 312,743 |
Total capital | 3,702,122 | 3,291,320 |
Total liabilities and capital | 7,372,895 | 6,841,958 |
External Links | |
PROLOGIS, INC. (PLD) Fiscal Year 2010 | |
Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |