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: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 15, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Operating activities: | |||
| Consolidated net earnings | $ 1,292,540 | 925,515 | 739,284 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Straight-lined rents and amortization of above and below market leases | (93,608) | (59,619) | (14,392) |
| Equity-based compensation awards | 60,341 | 53,665 | 57,478 |
| Depreciation and amortization | 930,985 | 880,373 | 642,461 |
| Earnings from unconsolidated entities, net | (206,307) | (159,262) | (134,288) |
| Distributions from unconsolidated entities | 286,651 | 284,664 | 294,890 |
| Net changes in operating receivables from unconsolidated entities | 14,823 | (38,185) | (7,503) |
| Amortization of debt premiums, net of deferred financing costs | (15,137) | (31,841) | (7,324) |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (757,398) | (758,887) | (725,790) |
| Unrealized foreign currency and derivative losses (gains), net | (8,052) | (1,019) | 22,571 |
| Losses (gains) on early extinguishment of debt, net | (2,484) | 86,303 | 165,300 |
| Deferred income tax benefit | (5,525) | (5,057) | (87,240) |
| Increase in accounts receivable and other assets | (106,337) | (64,749) | (93) |
| Increase (decrease) in accounts payable and accrued expenses and other liabilities | 26,513 | 4,426 | (50,881) |
| Net cash provided by operating activities | 1,417,005 | 1,116,327 | 894,473 |
| Investing activities: | |||
| Real estate development | (1,641,560) | (1,339,904) | (1,064,220) |
| Real estate acquisitions | (458,516) | (890,183) | (612,330) |
| Tenant improvements and lease commissions on previously leased space | (165,933) | (154,564) | (133,957) |
| Nondevelopment capital expenditures | (101,677) | (83,351) | (78,610) |
| Proceeds from dispositions and contributions of real estate properties | 2,826,408 | 2,795,249 | 2,285,488 |
| Investments in and advances to unconsolidated entities | (265,951) | (474,420) | (756,416) |
| Acquisition of a controlling interest in unconsolidated co-investment ventures, net of cash received | 0 | 0 | (590,390) |
| Return of investment from unconsolidated entities | 776,550 | 29,406 | 84,135 |
| Proceeds from repayment of notes receivable backed by real estate | 202,950 | 9,866 | 188,000 |
| Proceeds from the settlement of net investment hedges | 79,767 | 129,149 | 31,409 |
| Payments on the settlement of net investment hedges | 0 | (981) | (18,370) |
| Net cash provided by (used in) investing activities | 1,252,038 | (4,789,232) | (665,261) |
| Financing activities: | |||
| Proceeds from issuance of common stock | 39,470 | 90,258 | 378,247 |
| Distributions paid on common and preferred stock | (893,455) | (804,697) | (672,190) |
| Repurchase of preferred stock | 0 | 0 | (27,643) |
| Noncontrolling interests contributions | 2,168 | 2,355,367 | 468,280 |
| Noncontrolling interests distributions | (343,550) | (215,740) | (315,426) |
| Purchase of noncontrolling interests | (3,083) | (2,560) | (2,440) |
| Tax paid for shares withheld | (8,570) | (12,298) | (12,990) |
| Debt and equity issuance costs paid | (20,123) | (32,012) | (23,420) |
| Net proceeds from (payments on) credit facilities | 33,435 | (7,970) | (717,369) |
| Repurchase and payments of debt | (2,301,647) | (3,156,294) | (4,205,806) |
| Proceeds from issuance of debt | 1,369,890 | 5,381,862 | 4,779,950 |
| Net cash provided by (used in) financing activities | (2,125,465) | 3,595,916 | (350,807) |
| Effect of foreign currency exchange rate changes on cash | (342) | (9,623) | (18,842) |
| Net increase (decrease) in cash and cash equivalents | 543,236 | (86,612) | (140,437) |
| Cash and cash equivalents, beginning of year | 264,080 | 350,692 | |
| Cash and cash equivalents, end of year | 807,316 | 264,080 | 350,692 |
| Business Acquisition | |||
| KTR Capital Partners and Affiliates | |||
| KTR transaction, net of cash received | 0 | (4,809,499) | 0 |
| Legal Entity | |||
| Prologis, L.P. | |||
| KTR transaction, net of cash received | 0 | (4,809,499) | 0 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Consolidated net earnings | 1,292,540 | 925,515 | 739,284 |
| Straight-lined rents and amortization of above and below market leases | (93,608) | (59,619) | (14,392) |
| Equity-based compensation awards | 60,341 | 53,665 | 57,478 |
| Depreciation and amortization | 930,985 | 880,373 | 642,461 |
| Earnings from unconsolidated entities, net | (206,307) | (159,262) | (134,288) |
| Distributions from unconsolidated entities | 286,651 | 284,664 | 294,890 |
| Net changes in operating receivables from unconsolidated entities | 14,823 | (38,185) | (7,503) |
| Amortization of debt premiums, net of deferred financing costs | (15,137) | (31,841) | (7,324) |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (757,398) | (758,887) | (725,790) |
| Unrealized foreign currency and derivative losses (gains), net | (8,052) | (1,019) | 22,571 |
| Losses (gains) on early extinguishment of debt, net | (2,484) | 86,303 | 165,300 |
| Deferred income tax benefit | (5,525) | (5,057) | (87,240) |
| Increase in accounts receivable and other assets | (106,337) | (64,749) | (93) |
| Increase (decrease) in accounts payable and accrued expenses and other liabilities | 26,513 | 4,426 | (50,881) |
| Net cash provided by operating activities | 1,417,005 | 1,116,327 | 894,473 |
| Real estate development | (1,641,560) | (1,339,904) | (1,064,220) |
| Real estate acquisitions | (458,516) | (890,183) | (612,330) |
| Tenant improvements and lease commissions on previously leased space | (165,933) | (154,564) | (133,957) |
| Nondevelopment capital expenditures | (101,677) | (83,351) | (78,610) |
| Proceeds from dispositions and contributions of real estate properties | 2,826,408 | 2,795,249 | 2,285,488 |
| Investments in and advances to unconsolidated entities | (265,951) | (474,420) | (756,416) |
| Acquisition of a controlling interest in unconsolidated co-investment ventures, net of cash received | 0 | 0 | (590,390) |
| Return of investment from unconsolidated entities | 776,550 | 29,406 | 84,135 |
| Proceeds from repayment of notes receivable backed by real estate | 202,950 | 9,866 | 188,000 |
| Proceeds from the settlement of net investment hedges | 79,767 | 129,149 | 31,409 |
| Payments on the settlement of net investment hedges | 0 | (981) | (18,370) |
| Net cash provided by (used in) investing activities | 1,252,038 | (4,789,232) | (665,261) |
| Proceeds from issuance of common stock | 39,470 | 90,258 | 378,247 |
| Distributions paid on common and preferred stock | (931,559) | (820,989) | (674,344) |
| Repurchase of preferred stock | 0 | 0 | (27,643) |
| Noncontrolling interests contributions | 2,168 | 2,355,367 | 468,280 |
| Noncontrolling interests distributions | (306,297) | (199,845) | (313,272) |
| Purchase of noncontrolling interests | (2,232) | (2,163) | (2,440) |
| Tax paid for shares withheld | (8,570) | (12,298) | (12,990) |
| Debt and equity issuance costs paid | (20,123) | (32,012) | (23,420) |
| Net proceeds from (payments on) credit facilities | 33,435 | (7,970) | (717,369) |
| Repurchase and payments of debt | (2,301,647) | (3,156,294) | (4,205,806) |
| Proceeds from issuance of debt | 1,369,890 | 5,381,862 | 4,779,950 |
| Net cash provided by (used in) financing activities | (2,125,465) | 3,595,916 | (350,807) |
| Effect of foreign currency exchange rate changes on cash | (342) | (9,623) | (18,842) |
| Net increase (decrease) in cash and cash equivalents | 543,236 | (86,612) | (140,437) |
| Cash and cash equivalents, beginning of year | 807,316 | 350,692 | 350,692 |
| Cash and cash equivalents, end of year | 807,316 | 350,692 | 350,692 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2016 | |
| 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 |