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: 2014 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 25, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Operating activities: | |||
| Consolidated net earnings (loss) | $ 739,284 | 353,049 | (30,472) |
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | |||
| Straight-lined rents | (42,829) | (46,861) | (62,290) |
| Equity-based compensation awards | 57,478 | 49,239 | 32,138 |
| Depreciation and amortization | 642,461 | 664,007 | 767,459 |
| Earnings from unconsolidated entities, net | (134,288) | (97,220) | (31,676) |
| Distributions and net changes in operating receivables from unconsolidated entities | 110,435 | 75,859 | 6,581 |
| Amortization of debt and lease intangibles | 21,113 | 10,140 | 21,008 |
| Non-cash Merger, acquisition and other integration expenses | 17,581 | ||
| Impairment of real estate properties and other assets | 269,049 | ||
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (725,790) | (715,758) | (348,615) |
| Losses on early extinguishment of debt, net | 165,300 | 277,014 | 14,114 |
| Unrealized foreign currency and derivative losses (gains) and related amortization, net | 22,571 | 28,619 | 14,892 |
| Deferred income tax benefit | (87,240) | (20,067) | (21,967) |
| Increase in accounts receivable and other assets | (93) | (12,912) | (178,387) |
| Decrease in accounts payable and accrued expenses and other liabilities | (63,871) | (80,120) | (5,923) |
| Net cash provided by operating activities | 704,531 | 484,989 | 463,492 |
| Investing activities: | |||
| Real estate development activity | (1,051,181) | (845,234) | (793,349) |
| Real estate acquisitions | (612,330) | (514,611) | (254,414) |
| Tenant improvements and lease commissions on previously leased space | (133,957) | (145,424) | (133,558) |
| Non-development capital expenditures | (78,610) | (82,610) | (80,612) |
| Investments in and advances to unconsolidated entities | (739,635) | (1,221,155) | (165,011) |
| Return of investment from unconsolidated entities | 244,306 | 411,853 | 291,679 |
| Proceeds from dispositions and contributions of real estate properties | 2,285,488 | 5,409,745 | 1,975,036 |
| Acquisition of unconsolidated co-investment ventures, net of cash received | (590,390) | (678,642) | (365,156) |
| Proceeds from repayment of notes receivable backed by real estate | 188,000 | 55,000 | |
| Net cash provided by (used in) investing activities | (488,309) | 2,333,922 | 529,615 |
| Financing activities: | |||
| Proceeds from issuance of common stock | 378,247 | 1,505,791 | 30,981 |
| Distributions paid on common and preferred units | (672,190) | (573,854) | (567,834) |
| Redemption of preferred stock | (27,643) | (482,500) | |
| Noncontrolling interest contributions | 468,280 | 145,522 | 70,820 |
| Noncontrolling interest distributions | (315,426) | (115,999) | (44,070) |
| Purchase of noncontrolling interest | (2,440) | (250,740) | (142,064) |
| Debt and capital issuance costs paid | (23,420) | (77,017) | (10,963) |
| Net proceeds from (payments on) credit facilities | (717,369) | (93,075) | 9,064 |
| Repurchase and payment of debt | (4,205,806) | (6,012,433) | (1,850,699) |
| Proceeds from the issuance of debt | 4,779,950 | 3,588,683 | 1,433,254 |
| Net cash used in financing activities | (337,817) | (2,365,622) | (1,071,511) |
| Effect of foreign currency exchange rate changes on cash | (18,842) | (62,970) | 3,142 |
| Net increase (decrease) in cash and cash equivalents | (140,437) | 390,319 | (75,262) |
| Cash and cash equivalents, beginning of year | 491,129 | 100,810 | |
| Cash and cash equivalents, end of year | 350,692 | 491,129 | 100,810 |
| Partner Type | |||
| Prologis, L.P. | |||
| Consolidated net earnings (loss) | 739,284 | 353,049 | (30,472) |
| Straight-lined rents | (42,829) | (46,861) | (62,290) |
| Equity-based compensation awards | 57,478 | 49,239 | 32,138 |
| Depreciation and amortization | 642,461 | 664,007 | 767,459 |
| Earnings from unconsolidated entities, net | (134,288) | (97,220) | (31,676) |
| Distributions and net changes in operating receivables from unconsolidated entities | 110,435 | 75,859 | 6,581 |
| Amortization of debt and lease intangibles | 21,113 | 10,140 | 21,008 |
| Non-cash Merger, acquisition and other integration expenses | 17,581 | ||
| Impairment of real estate properties and other assets | 269,049 | ||
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (725,790) | (715,758) | (348,615) |
| Losses on early extinguishment of debt, net | 165,300 | 277,014 | 14,114 |
| Unrealized foreign currency and derivative losses (gains) and related amortization, net | 22,571 | 28,619 | 14,892 |
| Deferred income tax benefit | (87,240) | (20,067) | (21,967) |
| Increase in accounts receivable and other assets | (93) | (12,912) | (178,387) |
| Decrease in accounts payable and accrued expenses and other liabilities | (63,871) | (80,120) | (5,923) |
| Net cash provided by operating activities | 704,531 | 484,989 | 463,492 |
| Real estate development activity | (1,051,181) | (845,234) | (793,349) |
| Real estate acquisitions | (612,330) | (514,611) | (254,414) |
| Tenant improvements and lease commissions on previously leased space | (133,957) | (145,424) | (133,558) |
| Non-development capital expenditures | (78,610) | (82,610) | (80,612) |
| Investments in and advances to unconsolidated entities | (739,635) | (1,221,155) | (165,011) |
| Return of investment from unconsolidated entities | 244,306 | 411,853 | 291,679 |
| Proceeds from dispositions and contributions of real estate properties | 2,285,488 | 5,409,745 | 1,975,036 |
| Acquisition of unconsolidated co-investment ventures, net of cash received | (590,390) | (678,642) | (365,156) |
| Proceeds from repayment of notes receivable backed by real estate | 188,000 | 55,000 | |
| Net cash provided by (used in) investing activities | (488,309) | 2,333,922 | 529,615 |
| Proceeds from issuance of common stock | 378,247 | 1,505,791 | 30,981 |
| Distributions paid on common and preferred units | (674,344) | (580,862) | (575,807) |
| Redemption of preferred stock | (27,643) | (482,500) | |
| Noncontrolling interest contributions | 468,280 | 145,522 | 70,820 |
| Noncontrolling interest distributions | (313,272) | (113,928) | (41,905) |
| Purchase of noncontrolling interest | (2,440) | (245,803) | (136,256) |
| Debt and capital issuance costs paid | (23,420) | (77,017) | (10,963) |
| Net proceeds from (payments on) credit facilities | (717,369) | (93,075) | 9,064 |
| Repurchase and payment of debt | (4,205,806) | (6,012,433) | (1,850,699) |
| Proceeds from the issuance of debt | 4,779,950 | 3,588,683 | 1,433,254 |
| Net cash used in financing activities | (337,817) | (2,365,622) | (1,071,511) |
| Effect of foreign currency exchange rate changes on cash | (18,842) | (62,970) | 3,142 |
| Net increase (decrease) in cash and cash equivalents | (140,437) | 390,319 | (75,262) |
| Cash and cash equivalents, beginning of year | 350,692 | 100,810 | 100,810 |
| Cash and cash equivalents, end of year | 350,692 | 100,810 | 100,810 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2014 | |
| 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 |