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: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 13, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Operating activities: | |||
| Consolidated net earnings | $ 1,822,960 | 1,760,959 | 1,292,540 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Straight-lined rents and amortization of above and below market leases | (66,938) | (81,021) | (93,608) |
| Equity-based compensation awards | 76,093 | 76,640 | 60,341 |
| Depreciation and amortization | 947,214 | 879,140 | 930,985 |
| Earnings from unconsolidated entities, net | (298,260) | (248,567) | (206,307) |
| Operating distributions from unconsolidated entities | 349,877 | 307,220 | 286,651 |
| Decrease (increase) in operating receivables from unconsolidated entities | (39,890) | (30,893) | 14,823 |
| Amortization of debt discounts (premiums), net and debt issuance costs | 12,653 | 751 | (15,137) |
| Gains on real estate transactions, net | (840,996) | (1,182,965) | (757,398) |
| Unrealized foreign currency and derivative losses (gains), net | (120,358) | 68,956 | (8,052) |
| Losses (gains) on early extinguishment of debt, net | 2,586 | 68,379 | (2,484) |
| Deferred income tax expense (benefit) | 1,448 | (5,005) | (5,525) |
| Decrease (increase) in accounts receivable and other assets | (72,955) | 37,278 | (106,337) |
| Increase in accounts payable and accrued expenses and other liabilities | 30,125 | 36,374 | 26,513 |
| Net cash provided by operating activities | 1,803,559 | 1,687,246 | 1,417,005 |
| Investing activities: | |||
| Real estate development | (1,953,144) | (1,606,133) | (1,641,560) |
| DCT Transaction, net of cash acquired | (45,870) | 0 | 0 |
| Real estate acquisitions | (999,131) | (442,696) | (458,516) |
| Tenant improvements and lease commissions on previously leased space | (134,868) | (153,255) | (165,933) |
| Property improvements | (93,073) | (110,635) | (101,677) |
| Proceeds from dispositions and contributions of real estate properties | 2,310,388 | 3,236,603 | 2,826,408 |
| Investments in and advances to unconsolidated entities | (160,358) | (249,735) | (265,951) |
| Acquisition of a controlling interest in unconsolidated entities, net of cash received | 0 | (374,605) | 0 |
| Return of investment from unconsolidated entities | 360,278 | 209,151 | 776,550 |
| Proceeds from repayment of notes receivable backed by real estate | 34,260 | 32,100 | 202,950 |
| Proceeds from the settlement of net investment hedges | 29,425 | 7,541 | 79,767 |
| Payments on the settlement of net investment hedges | (11,703) | (5,058) | 0 |
| Net cash provided by (used in) investing activities | (663,796) | 543,278 | 1,252,038 |
| Financing activities: | |||
| Proceeds from issuance of common stock | 6,891 | 32,858 | 39,470 |
| Dividends paid on common and preferred stock | (1,123,367) | (942,884) | (893,455) |
| Repurchase of preferred stock | 0 | (13,182) | 0 |
| Noncontrolling interests contributions | 170,066 | 240,925 | 2,168 |
| Noncontrolling interests distributions | (224,850) | (207,788) | (343,550) |
| Settlement of noncontrolling interests | (75,920) | (813,847) | (3,083) |
| Tax paid for shares withheld | (26,508) | (19,775) | (8,570) |
| Debt and equity issuance costs paid | (17,446) | (7,054) | (20,123) |
| Net proceeds from (payments on) credit facilities | (674,559) | 283,255 | 33,435 |
| Repurchase of and payments on debt | (4,166,088) | (3,578,889) | (2,301,647) |
| Proceeds from the issuance of debt | 4,899,680 | 2,419,797 | 1,369,890 |
| Net cash used in financing activities | (1,232,101) | (2,606,584) | (2,125,465) |
| Effect of foreign currency exchange rate changes on cash | (10,852) | 15,790 | (342) |
| Net increase (decrease) in cash and cash equivalents | (103,190) | (360,270) | 543,236 |
| Cash and cash equivalents, beginning of year | 447,046 | 807,316 | |
| Cash and cash equivalents, end of year | 343,856 | 447,046 | 807,316 |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Consolidated net earnings | 1,822,960 | 1,760,959 | 1,292,540 |
| Straight-lined rents and amortization of above and below market leases | (66,938) | (81,021) | (93,608) |
| Equity-based compensation awards | 76,093 | 76,640 | 60,341 |
| Depreciation and amortization | 947,214 | 879,140 | 930,985 |
| Earnings from unconsolidated entities, net | (298,260) | (248,567) | (206,307) |
| Operating distributions from unconsolidated entities | 349,877 | 307,220 | 286,651 |
| Decrease (increase) in operating receivables from unconsolidated entities | (39,890) | (30,893) | 14,823 |
| Amortization of debt discounts (premiums), net and debt issuance costs | 12,653 | 751 | (15,137) |
| Gains on real estate transactions, net | (840,996) | (1,182,965) | (757,398) |
| Unrealized foreign currency and derivative losses (gains), net | (120,358) | 68,956 | (8,052) |
| Losses (gains) on early extinguishment of debt, net | 2,586 | 68,379 | (2,484) |
| Deferred income tax expense (benefit) | 1,448 | (5,005) | (5,525) |
| Decrease (increase) in accounts receivable and other assets | (72,955) | 37,278 | (106,337) |
| Increase in accounts payable and accrued expenses and other liabilities | 30,125 | 36,374 | 26,513 |
| Net cash provided by operating activities | 1,803,559 | 1,687,246 | 1,417,005 |
| Real estate development | (1,953,144) | (1,606,133) | (1,641,560) |
| DCT Transaction, net of cash acquired | (45,870) | 0 | 0 |
| Real estate acquisitions | (999,131) | (442,696) | (458,516) |
| Tenant improvements and lease commissions on previously leased space | (134,868) | (153,255) | (165,933) |
| Property improvements | (93,073) | (110,635) | (101,677) |
| Proceeds from dispositions and contributions of real estate properties | 2,310,388 | 3,236,603 | 2,826,408 |
| Investments in and advances to unconsolidated entities | (160,358) | (249,735) | (265,951) |
| Acquisition of a controlling interest in unconsolidated entities, net of cash received | 0 | (374,605) | 0 |
| Return of investment from unconsolidated entities | 360,278 | 209,151 | 776,550 |
| Proceeds from repayment of notes receivable backed by real estate | 34,260 | 32,100 | 202,950 |
| Proceeds from the settlement of net investment hedges | 29,425 | 7,541 | 79,767 |
| Payments on the settlement of net investment hedges | (11,703) | (5,058) | 0 |
| Net cash provided by (used in) investing activities | (663,796) | 543,278 | 1,252,038 |
| Proceeds from issuance of common stock | 6,891 | 32,858 | 39,470 |
| Dividends paid on common and preferred stock | (1,168,133) | (980,105) | (931,559) |
| Repurchase of preferred stock | 0 | (13,182) | 0 |
| Noncontrolling interests contributions | 170,066 | 240,925 | 2,168 |
| Noncontrolling interests distributions | (180,084) | (170,567) | (306,297) |
| Settlement of noncontrolling interests | (22,728) | (790,016) | (2,232) |
| Redemption of common limited partnership units | (53,192) | (23,831) | 0 |
| Tax paid for shares of the Parent withheld | (26,508) | (19,775) | (8,570) |
| Debt and equity issuance costs paid | (17,446) | (7,054) | (20,123) |
| Net proceeds from (payments on) credit facilities | (674,559) | 283,255 | 33,435 |
| Repurchase of and payments on debt | (4,166,088) | (3,578,889) | (2,301,647) |
| Proceeds from the issuance of debt | 4,899,680 | 2,419,797 | 1,369,890 |
| Net cash used in financing activities | (1,232,101) | (2,606,584) | (2,125,465) |
| Effect of foreign currency exchange rate changes on cash | (10,852) | 15,790 | (342) |
| Net increase (decrease) in cash and cash equivalents | (103,190) | (360,270) | 543,236 |
| Cash and cash equivalents, beginning of year | 343,856 | 807,316 | 807,316 |
| Cash and cash equivalents, end of year | 343,856 | 807,316 | 807,316 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2018 | |
| 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 |