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: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 19, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Operating activities: | |||
| Consolidated net earnings | $ 925,515 | 739,284 | 353,049 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Straight-lined rents and amortization of above and below market leases | (59,619) | (14,392) | (12,080) |
| Equity-based compensation awards | 53,665 | 57,478 | 49,239 |
| Depreciation and amortization | 880,373 | 642,461 | 664,007 |
| Earnings from unconsolidated entities, net | (159,262) | (134,288) | (97,220) |
| Distributions from unconsolidated entities | 144,045 | 117,938 | 68,319 |
| Net changes in operating receivables from unconsolidated entities | (38,185) | (7,503) | 7,540 |
| Amortization of debt and deferred financing costs | (31,841) | (7,324) | (24,641) |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (758,887) | (725,790) | (715,758) |
| Losses on early extinguishment of debt, net | 86,303 | 165,300 | 277,014 |
| Unrealized foreign currency and derivative losses (gains) and related amortization, net | (1,019) | 22,571 | 28,619 |
| Deferred income tax benefit | (5,057) | (87,240) | (20,067) |
| Increase in accounts receivable and other assets | (64,749) | (93) | (12,912) |
| Increase (decrease) in accounts payable and accrued expenses and other liabilities | (7,872) | (63,871) | (80,120) |
| Net cash provided by operating activities | 963,410 | 704,531 | 484,989 |
| Investing activities: | |||
| Real estate development activity | (1,339,904) | (1,064,220) | (853,082) |
| Real estate acquisitions | (890,183) | (612,330) | (514,611) |
| Tenant improvements and lease commissions on previously leased space | (154,564) | (133,957) | (145,424) |
| Nondevelopment capital expenditures | (83,351) | (78,610) | (82,610) |
| Proceeds from dispositions and contributions of real estate properties | 2,795,249 | 2,285,488 | 5,409,745 |
| Investments in and advances to unconsolidated entities | (474,420) | (739,635) | (1,221,155) |
| Acquisition of a controlling interest in unconsolidated co-investment ventures, net of cash received | 0 | (590,390) | (678,642) |
| Return of investment from unconsolidated entities | 170,025 | 244,306 | 411,853 |
| Proceeds from repayment of notes receivable backed by real estate | 9,866 | 188,000 | 0 |
| Proceeds from the settlement of net investment hedges | 129,149 | 31,409 | 8,842 |
| Payments on the settlement of net investment hedges | (981) | (18,370) | (994) |
| Net cash provided by (used in) investing activities | (4,648,613) | (488,309) | 2,333,922 |
| Financing activities: | |||
| Proceeds from issuance of common stock | 90,258 | 378,247 | 1,505,791 |
| Distributions paid on common and preferred stock | (804,697) | (672,190) | (573,854) |
| Repurchase and redemption of preferred stock | 0 | (27,643) | (482,500) |
| Noncontrolling interests contributions | 2,355,367 | 468,280 | 145,522 |
| Noncontrolling interests distributions | (215,740) | (315,426) | (115,999) |
| Purchase of noncontrolling interests | (2,560) | (2,440) | (250,740) |
| Debt and equity issuance costs paid | (32,012) | (23,420) | (77,017) |
| Net payments on credit facilities | (7,970) | (717,369) | (93,075) |
| Repurchase and payments of debt | (3,156,294) | (4,205,806) | (6,012,433) |
| Proceeds from issuance of debt | 5,381,862 | 4,779,950 | 3,588,683 |
| Net cash provided by (used in) financing activities | 3,608,214 | (337,817) | (2,365,622) |
| Effect of foreign currency exchange rate changes on cash | (9,623) | (18,842) | (62,970) |
| Net increase (decrease) in cash and cash equivalents | (86,612) | (140,437) | 390,319 |
| Cash and cash equivalents, beginning of year | 350,692 | 491,129 | |
| Cash and cash equivalents, end of year | 264,080 | 350,692 | 491,129 |
| Business Acquisition | |||
| KTR Capital Partners and Affiliates | |||
| KTR acquisition, net of cash received | (4,809,499) | 0 | 0 |
| Legal Entity | |||
| Prologis, L.P. | |||
| KTR acquisition, net of cash received | (4,809,499) | 0 | 0 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Consolidated net earnings | 925,515 | 739,284 | 353,049 |
| Straight-lined rents and amortization of above and below market leases | (59,619) | (14,392) | (12,080) |
| Equity-based compensation awards | 53,665 | 57,478 | 49,239 |
| Depreciation and amortization | 880,373 | 642,461 | 664,007 |
| Earnings from unconsolidated entities, net | (159,262) | (134,288) | (97,220) |
| Distributions from unconsolidated entities | 144,045 | 117,938 | 68,319 |
| Net changes in operating receivables from unconsolidated entities | (38,185) | (7,503) | 7,540 |
| Amortization of debt and deferred financing costs | (31,841) | (7,324) | (24,641) |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (758,887) | (725,790) | (715,758) |
| Losses on early extinguishment of debt, net | 86,303 | 165,300 | 277,014 |
| Unrealized foreign currency and derivative losses (gains) and related amortization, net | (1,019) | 22,571 | 28,619 |
| Deferred income tax benefit | (5,057) | (87,240) | (20,067) |
| Increase in accounts receivable and other assets | (64,749) | (93) | (12,912) |
| Increase (decrease) in accounts payable and accrued expenses and other liabilities | (7,872) | (63,871) | (80,120) |
| Net cash provided by operating activities | 963,410 | 704,531 | 484,989 |
| Real estate development activity | (1,339,904) | (1,064,220) | (853,082) |
| Real estate acquisitions | (890,183) | (612,330) | (514,611) |
| Tenant improvements and lease commissions on previously leased space | (154,564) | (133,957) | (145,424) |
| Nondevelopment capital expenditures | (83,351) | (78,610) | (82,610) |
| Proceeds from dispositions and contributions of real estate properties | 2,795,249 | 2,285,488 | 5,409,745 |
| Investments in and advances to unconsolidated entities | (474,420) | (739,635) | (1,221,155) |
| Acquisition of a controlling interest in unconsolidated co-investment ventures, net of cash received | 0 | (590,390) | (678,642) |
| Return of investment from unconsolidated entities | 170,025 | 244,306 | 411,853 |
| Proceeds from repayment of notes receivable backed by real estate | 9,866 | 188,000 | 0 |
| Proceeds from the settlement of net investment hedges | 129,149 | 31,409 | 8,842 |
| Payments on the settlement of net investment hedges | (981) | (18,370) | (994) |
| Net cash provided by (used in) investing activities | (4,648,613) | (488,309) | 2,333,922 |
| Proceeds from issuance of common stock | 90,258 | 378,247 | 1,505,791 |
| Distributions paid on common and preferred stock | (820,989) | (674,344) | (580,862) |
| Repurchase and redemption of preferred stock | 0 | (27,643) | (482,500) |
| Noncontrolling interests contributions | 2,355,367 | 468,280 | 145,522 |
| Noncontrolling interests distributions | (199,845) | (313,272) | (113,928) |
| Purchase of noncontrolling interests | (2,163) | (2,440) | (245,803) |
| Debt and equity issuance costs paid | (32,012) | (23,420) | (77,017) |
| Net payments on credit facilities | (7,970) | (717,369) | (93,075) |
| Repurchase and payments of debt | (3,156,294) | (4,205,806) | (6,012,433) |
| Proceeds from issuance of debt | 5,381,862 | 4,779,950 | 3,588,683 |
| Net cash provided by (used in) financing activities | 3,608,214 | (337,817) | (2,365,622) |
| Effect of foreign currency exchange rate changes on cash | (9,623) | (18,842) | (62,970) |
| Net increase (decrease) in cash and cash equivalents | (86,612) | (140,437) | 390,319 |
| Cash and cash equivalents, beginning of year | 264,080 | 491,129 | 491,129 |
| Cash and cash equivalents, end of year | 264,080 | 491,129 | 491,129 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2015 | |
| 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 |