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: 2013 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Operating activities: | |||
| Consolidated net earnings (loss) | $ 353,049 | (30,472) | (157,938) |
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | |||
| Straight-lined rents | (46,861) | (62,290) | (59,384) |
| Stock-based compensation awards, net | 49,239 | 32,138 | 28,920 |
| Depreciation and amortization | 664,007 | 767,459 | 603,884 |
| Earnings from unconsolidated entities, net | (97,220) | (31,676) | (59,935) |
| Distributions and changes in operating receivables from unconsolidated entities | 75,859 | 6,581 | 58,981 |
| Amortization of debt and lease intangibles | 10,140 | 21,008 | 43,556 |
| Non-cash merger, acquisition and other integration expenses | 17,581 | 20,290 | |
| Impairment of real estate properties and other assets | 269,049 | 147,669 | |
| Net gains on dispositions, net of related impairment charges, in discontinued operations | (118,102) | (43,008) | (61,830) |
| Gains on acquisitions and dispositions of investments in real estate, net | (597,656) | (305,607) | (111,684) |
| Losses (gains) on early extinguishment of debt, net | 277,014 | 14,114 | (258) |
| Unrealized foreign currency and derivative losses (gains), net | 28,619 | 14,892 | (38,398) |
| Deferred income tax benefit | (20,067) | (21,967) | (19,803) |
| Increase in restricted cash, accounts receivable and other assets | (12,912) | (178,387) | (40,095) |
| Decrease in accounts payable and accrued expenses and other liabilities | (80,120) | (5,923) | (146,911) |
| Net cash provided by operating activities | 484,989 | 463,492 | 207,064 |
| Investing activities: | |||
| Real estate development activity | (845,234) | (793,349) | (811,035) |
| Real estate acquisitions, net of cash received | (514,611) | (254,414) | (214,759) |
| Tenant improvements and lease commissions on previously leased space | (145,424) | (133,558) | (88,368) |
| Non-development capital expenditures | (82,610) | (80,612) | (55,702) |
| Investments in and advances to unconsolidated entities, net | (1,221,155) | (165,011) | (37,755) |
| Return of investment from unconsolidated entities | 411,853 | 291,679 | 170,158 |
| Proceeds from dispositions and contributions of real estate properties | 5,409,745 | 1,975,036 | 1,644,152 |
| Proceeds from repayment of notes receivable backed by real estate and other notes receivable | 55,000 | 6,450 | |
| Acquisition, net of cash received | (678,642) | (365,156) | |
| Investments in notes receivable backed by real estate and advances on other notes receivable | (55,000) | ||
| Cash acquired in connection with the Merger | 234,045 | ||
| Net cash provided by (used in) investing activities | 2,333,922 | 529,615 | (233,065) |
| Financing activities: | |||
| Proceeds from issuance of common stock, net | 1,505,791 | 30,981 | 1,156,493 |
| Dividends paid on common stock | (552,170) | (520,253) | (387,133) |
| Dividends paid on preferred stock | (21,684) | (47,581) | (26,965) |
| Redemption of preferred stock | (482,500) | ||
| Noncontrolling interest contributions | 145,522 | 70,820 | 123,924 |
| Noncontrolling interest distributions | (115,999) | (44,070) | (17,378) |
| Purchase of noncontrolling interest | (250,740) | (142,064) | |
| Debt and equity issuance costs paid | (77,017) | (10,963) | (77,241) |
| Net proceeds from (payments on) credit facilities | (93,075) | 9,064 | (37,558) |
| Repurchase and early extinguishment of debt | (3,985,673) | (1,653,989) | (894,249) |
| Proceeds from the issuance of debt | 3,588,683 | 1,433,254 | 1,298,891 |
| Payments on debt | (2,026,760) | (196,710) | (975,466) |
| Net cash provided by (used in) financing activities | (2,365,622) | (1,071,511) | 163,318 |
| Effect of foreign currency exchange rate changes on cash | (62,970) | 3,142 | 1,121 |
| Net increase (decrease) in cash and cash equivalents | 390,319 | (75,262) | 138,438 |
| Cash and cash equivalents, beginning of year | 100,810 | 176,072 | |
| Cash and cash equivalents, end of year | 491,129 | 100,810 | 176,072 |
| Business Acquisition | |||
| PEPR | |||
| Acquisition, net of cash received | (1,025,251) | ||
| Legal Entity | |||
| Prologis, L.P. | |||
| Acquisition, net of cash received | (1,025,251) | ||
| Legal Entity | |||
| Prologis, L.P. | |||
| Consolidated net earnings (loss) | 353,049 | (30,472) | (157,938) |
| Straight-lined rents | (46,861) | (62,290) | (59,384) |
| Stock-based compensation awards, net | 49,239 | 32,138 | 28,920 |
| Depreciation and amortization | 664,007 | 767,459 | 603,884 |
| Earnings from unconsolidated entities, net | (97,220) | (31,676) | (59,935) |
| Distributions and changes in operating receivables from unconsolidated entities | 75,859 | 6,581 | 58,981 |
| Amortization of debt and lease intangibles | 10,140 | 21,008 | 43,556 |
| Non-cash merger, acquisition and other integration expenses | 17,581 | 20,290 | |
| Impairment of real estate properties and other assets | 269,049 | 147,669 | |
| Net gains on dispositions, net of related impairment charges, in discontinued operations | (118,102) | (43,008) | (61,830) |
| Gains on acquisitions and dispositions of investments in real estate, net | (597,656) | (305,607) | (111,684) |
| Losses (gains) on early extinguishment of debt, net | 277,014 | 14,114 | (258) |
| Unrealized foreign currency and derivative losses (gains), net | 28,619 | 14,892 | (38,398) |
| Deferred income tax benefit | (20,067) | (21,967) | (19,803) |
| Increase in restricted cash, accounts receivable and other assets | (12,912) | (178,387) | (40,095) |
| Decrease in accounts payable and accrued expenses and other liabilities | (80,120) | (5,923) | (146,911) |
| Net cash provided by operating activities | 484,989 | 463,492 | 207,064 |
| Real estate development activity | (845,234) | (793,349) | (811,035) |
| Real estate acquisitions, net of cash received | (514,611) | (254,414) | (214,759) |
| Tenant improvements and lease commissions on previously leased space | (145,424) | (133,558) | (88,368) |
| Non-development capital expenditures | (82,610) | (80,612) | (55,702) |
| Investments in and advances to unconsolidated entities, net | (1,221,155) | (165,011) | (37,755) |
| Return of investment from unconsolidated entities | 411,853 | 291,679 | 170,158 |
| Proceeds from dispositions and contributions of real estate properties | 5,409,745 | 1,975,036 | 1,644,152 |
| Proceeds from repayment of notes receivable backed by real estate and other notes receivable | 55,000 | 6,450 | |
| Acquisition, net of cash received | (678,642) | (365,156) | |
| Investments in notes receivable backed by real estate and advances on other notes receivable | (55,000) | ||
| Cash acquired in connection with the Merger | 234,045 | ||
| Net cash provided by (used in) investing activities | 2,333,922 | 529,615 | (233,065) |
| Proceeds from issuance of common stock, net | 1,505,791 | 30,981 | 1,156,493 |
| Distributions paid on common partnership units | (559,178) | (528,226) | (388,333) |
| Distributions paid on preferred units | (21,684) | (47,581) | (26,965) |
| Redemption of preferred stock | (482,500) | ||
| Noncontrolling interest contributions | 145,522 | 70,820 | 123,924 |
| Noncontrolling interest distributions | (113,928) | (41,905) | (16,178) |
| Purchase of noncontrolling interest | (245,803) | (136,256) | |
| Debt and equity issuance costs paid | (77,017) | (10,963) | (77,241) |
| Net proceeds from (payments on) credit facilities | (93,075) | 9,064 | (37,558) |
| Repurchase and early extinguishment of debt | (3,985,673) | (1,653,989) | (894,249) |
| Proceeds from the issuance of debt | 3,588,683 | 1,433,254 | 1,298,891 |
| Payments on debt | (2,026,760) | (196,710) | (975,466) |
| Net cash provided by (used in) financing activities | (2,365,622) | (1,071,511) | 163,318 |
| Effect of foreign currency exchange rate changes on cash | (62,970) | 3,142 | 1,121 |
| Net increase (decrease) in cash and cash equivalents | 390,319 | (75,262) | 138,438 |
| Cash and cash equivalents, beginning of year | 491,129 | 176,072 | 176,072 |
| Cash and cash equivalents, end of year | 491,129 | 176,072 | 176,072 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2013 | |
| 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 |