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: 2017 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 15, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Operating activities: | |||
| Consolidated net earnings | $ 1,760,959 | 1,292,540 | 925,515 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Straight-lined rents and amortization of above and below market leases | (81,021) | (93,608) | (59,619) |
| Equity-based compensation awards | 76,640 | 60,341 | 53,665 |
| Depreciation and amortization | 879,140 | 930,985 | 880,373 |
| Earnings from unconsolidated entities, net | (248,567) | (206,307) | (159,262) |
| Distributions from unconsolidated entities | 307,220 | 286,651 | 284,664 |
| Decrease (increase) in operating receivables from unconsolidated entities | (30,893) | 14,823 | (38,185) |
| Amortization of debt discounts (premiums), net of debt issuance costs | 751 | (15,137) | (31,841) |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (1,182,965) | (757,398) | (758,887) |
| Unrealized foreign currency and derivative losses (gains), net | 68,956 | (8,052) | (1,019) |
| Losses (gains) on early extinguishment of debt, net | 68,379 | (2,484) | 86,303 |
| Deferred income tax benefit | (5,005) | (5,525) | (5,057) |
| Decrease (increase) in accounts receivable and other assets | 37,278 | (106,337) | (64,749) |
| Increase in accounts payable and accrued expenses and other liabilities | 36,374 | 26,513 | 4,426 |
| Net cash provided by operating activities | 1,687,246 | 1,417,005 | 1,116,327 |
| Investing activities: | |||
| Real estate development | (1,606,133) | (1,641,560) | (1,339,904) |
| Real estate acquisitions | (442,696) | (458,516) | (890,183) |
| Tenant improvements and lease commissions on previously leased space | (153,255) | (165,933) | (154,564) |
| Nondevelopment capital expenditures | (110,635) | (101,677) | (83,351) |
| Proceeds from dispositions and contributions of real estate properties | 3,236,603 | 2,826,408 | 2,795,249 |
| Investments in and advances to unconsolidated entities | (249,735) | (265,951) | (474,420) |
| Acquisition of a controlling interest in an unconsolidated venture, net of cash received | (374,605) | 0 | 0 |
| Return of investment from unconsolidated entities | 209,151 | 776,550 | 29,406 |
| Proceeds from repayment of notes receivable backed by real estate | 32,100 | 202,950 | 9,866 |
| Proceeds from the settlement of net investment hedges | 7,541 | 79,767 | 129,149 |
| Payments on the settlement of net investment hedges | (5,058) | 0 | (981) |
| Net cash provided by (used in) investing activities | 543,278 | 1,252,038 | (4,789,232) |
| Financing activities: | |||
| Proceeds from issuance of common stock | 32,858 | 39,470 | 90,258 |
| Dividends paid on common and preferred stock | (942,884) | (893,455) | (804,697) |
| Repurchase of preferred stock | (13,182) | 0 | 0 |
| Noncontrolling interests contributions | 240,925 | 2,168 | 2,355,367 |
| Noncontrolling interests distributions | (207,788) | (343,550) | (215,740) |
| Purchase of noncontrolling interests | (813,847) | (3,083) | (2,560) |
| Tax paid for shares withheld | (19,775) | (8,570) | (12,298) |
| Debt and equity issuance costs paid | (7,054) | (20,123) | (32,012) |
| Net proceeds from (payments on) credit facilities | 283,255 | 33,435 | (7,970) |
| Repurchase and payments of debt | (3,578,889) | (2,301,647) | (3,156,294) |
| Proceeds from issuance of debt | 2,419,797 | 1,369,890 | 5,381,862 |
| Net cash provided by (used in) financing activities | (2,606,584) | (2,125,465) | 3,595,916 |
| Effect of foreign currency exchange rate changes on cash | 15,790 | (342) | (9,623) |
| Net increase (decrease) in cash and cash equivalents | (360,270) | 543,236 | (86,612) |
| Cash and cash equivalents, beginning of year | 807,316 | 264,080 | |
| Cash and cash equivalents, end of year | 447,046 | 807,316 | 264,080 |
| Business Acquisition | |||
| KTR Capital Partners and Affiliates | |||
| Consolidated Entities | |||
| Prologis, L.P. | |||
| KTR transaction, net of cash received | 0 | 0 | (4,809,499) |
| KTR transaction, net of cash received | 0 | 0 | (4,809,499) |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Consolidated net earnings | 1,760,959 | 1,292,540 | 925,515 |
| Straight-lined rents and amortization of above and below market leases | (81,021) | (93,608) | (59,619) |
| Equity-based compensation awards | 76,640 | 60,341 | 53,665 |
| Depreciation and amortization | 879,140 | 930,985 | 880,373 |
| Earnings from unconsolidated entities, net | (248,567) | (206,307) | (159,262) |
| Distributions from unconsolidated entities | 307,220 | 286,651 | 284,664 |
| Decrease (increase) in operating receivables from unconsolidated entities | (30,893) | 14,823 | (38,185) |
| Amortization of debt discounts (premiums), net of debt issuance costs | 751 | (15,137) | (31,841) |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | (1,182,965) | (757,398) | (758,887) |
| Unrealized foreign currency and derivative losses (gains), net | 68,956 | (8,052) | (1,019) |
| Losses (gains) on early extinguishment of debt, net | 68,379 | (2,484) | 86,303 |
| Deferred income tax benefit | (5,005) | (5,525) | (5,057) |
| Decrease (increase) in accounts receivable and other assets | 37,278 | (106,337) | (64,749) |
| Increase in accounts payable and accrued expenses and other liabilities | 36,374 | 26,513 | 4,426 |
| Net cash provided by operating activities | 1,687,246 | 1,417,005 | 1,116,327 |
| Real estate development | (1,606,133) | (1,641,560) | (1,339,904) |
| Real estate acquisitions | (442,696) | (458,516) | (890,183) |
| Tenant improvements and lease commissions on previously leased space | (153,255) | (165,933) | (154,564) |
| Nondevelopment capital expenditures | (110,635) | (101,677) | (83,351) |
| Proceeds from dispositions and contributions of real estate properties | 3,236,603 | 2,826,408 | 2,795,249 |
| Investments in and advances to unconsolidated entities | (249,735) | (265,951) | (474,420) |
| Acquisition of a controlling interest in an unconsolidated venture, net of cash received | (374,605) | 0 | 0 |
| Return of investment from unconsolidated entities | 209,151 | 776,550 | 29,406 |
| Proceeds from repayment of notes receivable backed by real estate | 32,100 | 202,950 | 9,866 |
| Proceeds from the settlement of net investment hedges | 7,541 | 79,767 | 129,149 |
| Payments on the settlement of net investment hedges | (5,058) | 0 | (981) |
| Net cash provided by (used in) investing activities | 543,278 | 1,252,038 | (4,789,232) |
| Proceeds from issuance of common stock | 32,858 | 39,470 | 90,258 |
| Dividends paid on common and preferred stock | (980,105) | (931,559) | (820,989) |
| Repurchase of preferred stock | (13,182) | 0 | 0 |
| Noncontrolling interests contributions | 240,925 | 2,168 | 2,355,367 |
| Noncontrolling interests distributions | (170,567) | (306,297) | (199,845) |
| Purchase of noncontrolling interests | (790,016) | (2,232) | (2,163) |
| Redemption of common limited partnership units | (23,831) | 0 | 0 |
| Tax paid for shares withheld | (19,775) | (8,570) | (12,298) |
| Debt and equity issuance costs paid | (7,054) | (20,123) | (32,012) |
| Net proceeds from (payments on) credit facilities | 283,255 | 33,435 | (7,970) |
| Repurchase and payments of debt | (3,578,889) | (2,301,647) | (3,156,294) |
| Proceeds from issuance of debt | 2,419,797 | 1,369,890 | 5,381,862 |
| Net cash provided by (used in) financing activities | (2,606,584) | (2,125,465) | 3,595,916 |
| Effect of foreign currency exchange rate changes on cash | 15,790 | (342) | (9,623) |
| Net increase (decrease) in cash and cash equivalents | (360,270) | 543,236 | (86,612) |
| Cash and cash equivalents, beginning of year | 447,046 | 264,080 | 264,080 |
| Cash and cash equivalents, end of year | 447,046 | 264,080 | 264,080 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2017 | |
| 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 |