Component: (Network and Table)
Network
00500 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS
(http://www.sunstonehotels.com/role/StatementConsolidatedStatementsOfCashFlows)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001295810 (http://www.sec.gov/CIK)
CONSOLIDATED STATEMENTS OF CASH FLOWSPeriod [Axis]
2016-01-01 - 2016-12-31
2015-01-01 - 2015-12-31
2014-01-01 - 2014-12-31
CONSOLIDATED STATEMENTS OF CASH FLOWS
 
 
 
CASH FLOWS FROM OPERATING ACTIVITIES
 
 
 
Net income
140,677,000  
355,519,000  
87,939,000  
Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Bad debt expense
618,000  
238,000  
368,000  
Gain on sale of assets, net
(18,422,000) 
(242,234,000) 
(5,292,000) 
Loss on extinguishment of debt
284,000  
2,964,000  
4,638,000  
Gain on redemption of note receivable
 
(939,000) 
 
Gain on derivatives, net
(1,426,000) 
(309,000) 
(529,000) 
Depreciation
159,919,000  
160,405,000  
152,581,000  
Amortization of franchise fees and other intangibles
3,743,000  
6,479,000  
7,543,000  
Amortization of deferred financing fees
2,200,000  
3,148,000  
2,777,000  
Amortization of deferred stock compensation
7,157,000  
9,695,000  
9,063,000  
Changes in operating assets and liabilities:
 
 
 
Restricted cash
17,625,000  
8,536,000  
11,543,000  
Accounts receivable
(8,401,000) 
1,775,000  
(1,532,000) 
Inventories
40,000  
44,000  
100,000  
Prepaid expenses and other assets
977,000  
1,445,000  
3,121,000  
Accounts payable and other liabilities
476,000  
4,619,000  
7,273,000  
Accrued payroll and employee benefits
(54,000) 
(2,060,000) 
2,776,000  
Net cash provided by operating activities
305,413,000  
 
309,325,000  
 
282,369,000  
 
CASH FLOWS FROM INVESTING ACTIVITIES
 
 
 
Proceeds from sales of assets
41,587,000  
565,115,000  
110,000  
Disposition deposit
250,000  
  
Proceeds from redemption of note receivable
 
1,125,000  
 
Restricted cash - replacement reserve
(9,368,000) 
(2,642,000) 
(4,311,000) 
Acquisitions of hotel properties and other assets
(2,447,000) 
 
(276,558,000) 
Acquisition of air rights lease
   
Renovations and additions to hotel properties
(182,185,000) 
(164,232,000) 
(125,975,000) 
Payment for interest rate derivative
 
(13,000) 
 
Net cash (used in) provided by investing activities
(152,163,000) 
 
399,353,000  
 
(406,734,000) 
 
CASH FLOWS FROM FINANCING ACTIVITIES
 
 
 
Proceeds from preferred stock offerings
190,000,000  
  
Payment of preferred stock offering costs
(6,640,000) 
  
Redemption of preferred stock
(115,000,000) 
  
Proceeds from common stock offerings
55,133,000  
 
284,390,000  
Payment of common stock offering costs
(941,000) 
 
(1,000,000) 
Repurchase of common stock for employee withholding obligations
(2,641,000) 
(9,264,000) 
(3,774,000) 
Proceeds from notes payable and credit facility
100,000,000  
123,000,000  
178,250,000  
Payments on notes payable and credit facility
(265,536,000) 
(450,812,000) 
(153,033,000) 
Payments for costs related to extinguishment of notes payable
(173,000) 
(1,245,000) 
(4,051,000) 
Payments of deferred financing costs
(1,759,000) 
(5,861,000) 
(2,346,000) 
Dividends and distributions paid
(227,486,000) 
(77,544,000) 
(47,850,000) 
Distributions to noncontrolling interests
(7,737,000) 
(9,981,000) 
(8,488,000) 
Net cash (used in) provided by financing activities
(282,780,000) 
 
(431,707,000) 
 
242,098,000  
 
Net (decrease) increase in cash and cash equivalents
(129,530,000) 
 
276,971,000  
 
117,733,000  
 
Cash and cash equivalents, beginning of period
499,067,000  
222,096,000  
104,363,000  
Cash and cash equivalents, end of period
369,537,000  
 
499,067,000  
 
222,096,000  
 
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
 
 
 
Cash paid for interest
50,107,000  
63,552,000  
69,511,000  
Cash paid for income taxes, net of refunds received
1,241,000  
583,000  
273,000  
NONCASH INVESTING ACTIVITY
 
 
 
Increase in accounts payable related to renovations and additions to hotel properties and other assets
6,429,000  
8,268,000  
8,670,000  
Amortization of deferred stock compensation - construction activities
591,000  
580,000  
474,000  
NONCASH FINANCING ACTIVITY
 
 
 
Preferred stock redemption charge
4,052,000  
  
Issuance of common stock distributions
78,823,000  
37,349,000  
 
Issuance of common stock in connection with acquisition of hotel property
  
60,000,000  
Dividends and distributions payable
119,847,000  
265,124,000  
76,694,000