CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) shares in Millions, $ in Millions | 6 Months Ended |
Jun. 30, 2023 | Jun. 30, 2022 |
OPERATING ACTIVITIES | | |
Net income | $ 505 | $ 378 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations: | | |
Depreciation and amortization | 337 | 334 |
Amortization of finance costs, discounts and premiums, net | 5 | 5 |
Loss on extinguishment of debt | 4 | 0 |
Stock compensation expense | 13 | 10 |
Other gains | (69) | (14) |
Gain on property insurance settlement | 0 | (6) |
Equity in earnings of affiliates | (11) | (4) |
Change in due from/to managers | 3 | (53) |
Distributions from investments in affiliates | 18 | 20 |
Property insurance proceeds - remediation costs | 83 | 0 |
Changes in other assets | 16 | (43) |
Changes in other liabilities | (84) | (5) |
Net cash provided by operating activities | 820 | 708 |
INVESTING ACTIVITIES | | |
Proceeds from sales of assets, net | 34 | 217 |
Advances to and investments in affiliates | (20) | (44) |
Capital expenditures: | | |
Renewals and replacements | (226) | (78) |
Return on investment | (97) | (162) |
Property insurance proceeds | 34 | 7 |
Net cash used in investing activities | (275) | (60) |
FINANCING ACTIVITIES | | |
Financing costs | (10) | 0 |
Repayment of credit facility | 0 | (683) |
Mortgage debt and other prepayments and scheduled maturities | (1) | (1) |
Debt extinguishment costs | (3) | 0 |
Common stock repurchases | (50) | 0 |
Dividends on common stock | (313) | (21) |
Distributions and payments to non-controlling interests | (6) | 0 |
Other financing activities | (13) | (10) |
Net cash used in financing activities | (396) | (715) |
Effects of exchange rate changes on cash held | 2 | (1) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | 151 | (68) |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 874 | 953 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | 1,025 | 885 |
Supplemental disclosure of cash flow information: | | |
Cash and cash equivalents | 802 | 699 |
Restricted cash (included in other assets) | 10 | 7 |
Cash included in furniture, fixtures and equipment replacement fund | 213 | 179 |
Total cash and cash equivalents and restricted cash shown in the statements of cash flows | 1,025 | 885 |
Total interest paid | 90 | 69 |
Income taxes paid (refunds received) | 2 | (7) |
HOST HOTELS & RESORTS L.P. | | |
OPERATING ACTIVITIES | | |
Net income | 505 | 378 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations: | | |
Depreciation and amortization | 337 | 334 |
Amortization of finance costs, discounts and premiums, net | 5 | 5 |
Loss on extinguishment of debt | 4 | 0 |
Stock compensation expense | 13 | 10 |
Other gains | (69) | (14) |
Gain on property insurance settlement | 0 | (6) |
Equity in earnings of affiliates | (11) | (4) |
Change in due from/to managers | 3 | (53) |
Distributions from investments in affiliates | 18 | 20 |
Property insurance proceeds - remediation costs | 83 | 0 |
Changes in other assets | 16 | 43 |
Changes in other liabilities | (84) | (5) |
Net cash provided by operating activities | 820 | 708 |
INVESTING ACTIVITIES | | |
Proceeds from sales of assets, net | 34 | 217 |
Advances to and investments in affiliates | (20) | (44) |
Capital expenditures: | | |
Renewals and replacements | (226) | (78) |
Return on investment | (97) | (162) |
Property insurance proceeds | 34 | 7 |
Net cash used in investing activities | (275) | (60) |
FINANCING ACTIVITIES | | |
Financing costs | (10) | 0 |
Repayment of credit facility | 0 | (683) |
Mortgage debt and other prepayments and scheduled maturities | (1) | (1) |
Debt extinguishment costs | (3) | 0 |
Repurchase of common OP units | (50) | 0 |
Distributions on common OP units | (318) | (21) |
Distributions and payments to non-controlling interests | (1) | 0 |
Other financing activities | (13) | (10) |
Net cash used in financing activities | (396) | (715) |
Effects of exchange rate changes on cash held | 2 | (1) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | 151 | (68) |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 874 | 953 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | 1,025 | 885 |
Supplemental disclosure of cash flow information: | | |
Cash and cash equivalents | 802 | 699 |
Restricted cash (included in other assets) | 10 | 7 |
Cash included in furniture, fixtures and equipment replacement fund | 213 | 179 |
Total cash and cash equivalents and restricted cash shown in the statements of cash flows | 1,025 | 885 |
Total interest paid | 90 | 69 |
Income taxes paid (refunds received) | 2 | $ (7) |
Host Hotels Resorts Lp [Member] | Noble Investment Group LLC | | |
Noncash Investing And Financing Items [Abstract] | | |
Noncash financial or equity instrument consideration, shares issued | | 3.2 |
Joint venture investment, value of shares issued | | $ 56 |
Host Hotels Resorts Lp [Member] | HOST HOTELS & RESORTS L.P. | Noble Investment Group LLC | | |
Noncash Investing And Financing Items [Abstract] | | |
Noncash financial or equity instrument consideration, shares issued | | 3.2 |
Joint venture investment, value of shares issued | | $ 56 |
The Camby Autograph Collection [Member] | | |
Noncash Investing And Financing Items [Abstract] | | |
Notes receivable from sale of property | 72 | |
The Camby Autograph Collection [Member] | HOST HOTELS & RESORTS L.P. | | |
Noncash Investing And Financing Items [Abstract] | | |
Notes receivable from sale of property | $ 72 | |
Sheraton Boston Hotel [Member] | | |
Noncash Investing And Financing Items [Abstract] | | |
Notes receivable from sale of property | | 163 |
Sheraton Boston Hotel [Member] | HOST HOTELS & RESORTS L.P. | | |
Noncash Investing And Financing Items [Abstract] | | |
Notes receivable from sale of property | | 163 |
Sheraton New York Times Square Hotel | | |
Noncash Investing And Financing Items [Abstract] | | |
Notes receivable from sale of property | | 250 |
Sheraton New York Times Square Hotel | HOST HOTELS & RESORTS L.P. | | |
Noncash Investing And Financing Items [Abstract] | | |
Notes receivable from sale of property | | $ 250 |