2021 Q4 Form 10-Q Financial Statement

#000095017021003158 Filed on November 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $998.0M $844.0M $198.0M
YoY Change 273.78% 326.26% -84.31%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $757.0M $681.0M $350.0M
YoY Change 104.04% 94.57% -63.69%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $165.0M $263.0M $166.0M
YoY Change -1.2% 58.43% 0.61%
% of Gross Profit
Operating Expenses $922.0M $944.0M $516.0M
YoY Change 71.38% 82.95% -54.05%
Operating Profit -$95.00M -$318.0M
YoY Change -70.13% -332.12%
Interest Expense -$45.00M $43.00M $66.00M
YoY Change -2.17% -34.85% 43.48%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $313.0M -$133.0M -$389.0M
YoY Change -340.77% -65.81% -203.46%
Income Tax -$10.00M -$13.00M -$73.00M
% Of Pretax Income -3.19%
Net Earnings $321.0M -$119.0M -$313.0M
YoY Change -601.56% -61.98% -185.05%
Net Earnings / Revenue 32.16% -14.1% -158.08%
Basic Earnings Per Share -$0.17 -$0.44
Diluted Earnings Per Share $449.5K -$0.17 -$0.44
COMMON SHARES
Basic Shares Outstanding 714.0M 713.9M 705.2M
Diluted Shares Outstanding 713.9M 705.2M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $951.0M $1.176B $2.568B
YoY Change -61.56% -54.21% 26.5%
Cash & Equivalents $807.0M $1.038B $2.430B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.064B $1.234B $2.587B
YoY Change -57.37% -52.3% 21.23%
LONG-TERM ASSETS
Property, Plant & Equipment $9.994B $10.12B $9.487B
YoY Change 6.14% 6.71% -2.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $42.00M $62.00M $33.00M
YoY Change 100.0% 87.88% -44.07%
Other Assets $272.0M $283.0M $53.00M
YoY Change 13500.0% 433.96% -84.86%
Total Long-Term Assets $11.29B $11.48B $10.48B
YoY Change 8.6% 9.48% -4.67%
TOTAL ASSETS
Total Short-Term Assets $1.064B $1.234B $2.587B
Total Long-Term Assets $11.29B $11.48B $10.48B
Total Assets $12.35B $12.71B $13.07B
YoY Change -4.17% -2.75% -0.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $85.00M $91.00M $78.00M
YoY Change 19.72% 16.67% -71.84%
Accrued Expenses $564.0M $572.0M $612.0M
YoY Change -7.54% -6.54% 9.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $649.0M $663.0M $690.0M
YoY Change -4.7% -3.91% -17.37%
LONG-TERM LIABILITIES
Long-Term Debt $4.891B $5.545B $5.638B
YoY Change -11.73% -1.65% 26.92%
Other Long-Term Liabilities $240.0M $259.0M $256.0M
YoY Change 2.56% 1.17% 17.97%
Total Long-Term Liabilities $5.131B $5.804B $5.894B
YoY Change -11.15% -1.53% 26.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $649.0M $663.0M $690.0M
Total Long-Term Liabilities $5.131B $5.804B $5.894B
Total Liabilities $5.780B $6.467B $6.669B
YoY Change -10.47% -3.03% 21.39%
SHAREHOLDERS EQUITY
Retained Earnings -$1.192B -$1.511B
YoY Change 1.02%
Common Stock $7.709B $7.707B
YoY Change 1.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.441B $6.121B $6.402B
YoY Change
Total Liabilities & Shareholders Equity $12.35B $12.71B $13.07B
YoY Change -4.17% -2.75% -0.46%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $321.0M -$119.0M -$313.0M
YoY Change -601.56% -61.98% -185.05%
Depreciation, Depletion And Amortization $165.0M $263.0M $166.0M
YoY Change -1.2% 58.43% 0.61%
Cash From Operating Activities $214.0M $118.0M -$149.0M
YoY Change -249.65% -179.19% -151.38%
INVESTING ACTIVITIES
Capital Expenditures -$134.0M -$113.0M -$84.00M
YoY Change 16.52% 34.52% -44.74%
Acquisitions
YoY Change
Other Investing Activities $478.0M -$415.0M -$1.000M
YoY Change 77.7% 41400.0% -100.19%
Cash From Investing Activities $344.0M -$528.0M -$85.00M
YoY Change 123.38% 521.18% -122.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -784.0M 0.000 1.069B
YoY Change 639.62% -100.0% 362.77%
NET CHANGE
Cash From Operating Activities 214.0M 118.0M -149.0M
Cash From Investing Activities 344.0M -528.0M -85.00M
Cash From Financing Activities -784.0M 0.000 1.069B
Net Change In Cash -226.0M -410.0M 835.0M
YoY Change 137.89% -149.1% -7.94%
FREE CASH FLOW
Cash From Operating Activities $214.0M $118.0M -$149.0M
Capital Expenditures -$134.0M -$113.0M -$84.00M
Free Cash Flow $348.0M $231.0M -$65.00M
YoY Change -1342.86% -455.38% -114.71%

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us-gaap Payments Of Debt Extinguishment Costs
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hst Distributions And Payments To Non Controlling Interests
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Interest Paid Net
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2021Q3 us-gaap Number Of Real Estate Properties
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85
us-gaap Prior Period Reclassification Adjustment Description
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<p style="margin-left:9.067%;text-indent:2.859%;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Reclassifications</span></p><p style="margin-left:9.067%;text-indent:4.985%;font-size:10.0pt;margin-top:12.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Certain prior year financial statement amounts have been reclassified to conform with the current year presentation. </span><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p>
CY2021Q3 us-gaap Profit Loss
ProfitLoss
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CY2020Q3 us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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NetIncomeLossAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3000000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2021Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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705200000
us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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713900000
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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705200000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
709000000.0
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
706100000
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.17
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.95
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.17
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.95
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
198000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2021Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
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CY2020Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
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CY2021Q3 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
14084000000
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
13609000000
CY2021Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
2441000000
CY2020Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
2471000000
CY2021Q3 us-gaap Construction In Progress Gross
ConstructionInProgressGross
235000000
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
166000000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19057000000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18279000000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8933000000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10124000000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9416000000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6326000000
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
-331000000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
8000000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
138000000
us-gaap Stockholders Equity Other
StockholdersEquityOther
14000000
us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6237000000
CY2021Q3 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
-119000000
CY2021Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2021Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
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CY2021Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4000000
CY2021Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6126000000
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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us-gaap Stock Repurchased During Period Value
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147000000
us-gaap Dividends Common Stock
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us-gaap Stockholders Equity Other
StockholdersEquityOther
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us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
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CY2020Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2020Q3 us-gaap Stockholders Equity Other
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CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
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CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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6407000000
us-gaap Line Of Credit Facility Dividend Restrictions
LineOfCreditFacilityDividendRestrictions
Additionally, based on the terms of the credit facility amendments, we are restricted from paying a quarterly common cash dividend in excess of $0.01 per share during the Covenant Relief Period, unless a higher amount is required to allow Host Inc. to maintain its REIT status or to avoid the payment of corporate income or excise taxes, until after the covenant waiver period expires. Subsequent to quarter end, we terminated the Covenant Relief Period early, as we met the minimum fixed charge coverage ratio required for our first phase-in quarterly test period.
hst Maximum Allowable Dividend Per Share Covenant Waiver Period
MaximumAllowableDividendPerShareCovenantWaiverPeriod
0.01
CY2021Q3 us-gaap Senior Notes
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CY2020Q4 us-gaap Senior Notes
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CY2021Q3 us-gaap Line Of Credit
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CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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844000000
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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198000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1892000000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1353000000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10124000000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9416000000
CY2021Q3 hst Number Of Partnerships Consolidated
NumberOfPartnershipsConsolidated
2
CY2021Q3 us-gaap Minority Interest
MinorityInterest
5000000
CY2020Q4 us-gaap Minority Interest
MinorityInterest
5000000

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