UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
Amendment No. 1
(Mark One)
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
For the quarterly period ended June 18, 2010
OR
| ¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Commission File Number: 001-14625
HOST HOTELS & RESORTS, INC.
(Exact name of registrant as specified in its charter)
| Maryland | 53-0085950 | |
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
| 6903 Rockledge Drive, Suite 1500, Bethesda, Maryland |
20817 | |
| (Address of principal executive offices) | (Zip Code) | |
(240) 744-1000
(Registrant’s telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes ¨ No
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). x Yes ¨ No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | x | Accelerated filer | ¨ | |||
| Non-accelerated filer | ¨ (Do not check if a smaller reporting company) | Smaller reporting company | ¨ | |||
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ¨ Yes x No
The registrant had 658,357,736 shares of its $0.01 par value common stock outstanding as of July 22, 2010.
Explanatory Note
The Company is filing this amended Form 10-Q for the quarter ended June 18, 2010 solely to substitute a corrected Exhibit 12.1—The Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends. The corrected exhibit changes the amount of distributions from equity investments and amends the column headings in the exhibit to indicate that the financial information in the table represents year-to-date results.
| Item 6. | Exhibits |
The exhibits listed on the accompanying Exhibit Index are filed as part of this report and such Exhibit Index is incorporated herein by reference.
| Exhibit No. |
Description | |||
| 10.37†# | Second Amended and Restated Agreement of Limited Partnership of HHR EURO CV, dated as of May 27, 2010, by and among HST GP EURO B.V., HST LP EURO B.V., Stichting Pensioenfonds ABP, APG Strategic Real Estate Pool N.V. and Jasmine Hotels PTE Ltd. | |||
| 12.1* | Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends. | |||
| 31.1* | Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||
| 31.2* | Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||
| 32† | Certificate of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. 1350, as created by Section 906 of the Sarbanes-Oxley Act of 2002. | |||
| 101.INS† | XBRL Instance Document. | |||
| 101.SCH† | XBRL Taxonomy Extension Schema Document. | |||
| 101.CAL† | XBRL Taxonomy Calculation Linkbase Document. | |||
| 101.DEF† | XBRL Taxonomy Extension Definition Linkbase Document. | |||
| 101.LAB† | XBRL Taxonomy Label Linkbase Document. | |||
| 101.PRE† | XBRL Taxonomy Presentation Linkbase Document. | |||
| # | Certain portions of this exhibit have been omitted by redacting a portion of the text (indicated by asterisks in the text). This exhibit has been filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment. |
| * | Filed herewith. |
| † | Filed or furnished previously. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| HOST HOTELS & RESORTS, INC. | ||||
| July 27, 2010 | /s/ Brian G. Macnamara | |||
| Brian G. Macnamara Senior Vice President, Corporate Controller | ||||
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(in millions, except ratio amounts)
| Year-to-date ended | ||||||||
| June 18, 2010 |
June 19, 2009 |
|||||||
| Loss from continuing operations before income taxes |
$ | (78 | ) | $ | (69 | ) | ||
| Add (deduct): |
||||||||
| Fixed charges |
210 | 202 | ||||||
| Capitalized interest |
(1 | ) | (5 | ) | ||||
| Amortization of capitalized interest |
3 | 3 | ||||||
| Equity in (earnings)/losses related to certain 50% or less owned affiliates |
5 | 34 | ||||||
| Distributions from equity investments |
2 | 1 | ||||||
| Dividends on preferred stock |
(4 | ) | (4 | ) | ||||
| Issuance costs of redeemed preferred stock |
(4 | ) | — | |||||
| Adjusted earnings |
$ | 133 | $ | 162 | ||||
| Fixed charges: |
||||||||
| Interest on indebtedness and amortization of deferred financing costs |
$ | 179 | $ | 169 | ||||
| Capitalized interest |
1 | 5 | ||||||
| Dividends on preferred stock |
4 | 4 | ||||||
| Issuance costs of redeemed preferred stock |
4 | — | ||||||
| Portion of rents representative of the interest factor |
22 | 24 | ||||||
| Total fixed charges and preferred stock dividends |
$ | 210 | $ | 202 | ||||
| Deficiency of earnings to fixed charges and preferred stock dividends |
$ | (77 | ) | $ | (40 | ) | ||
Exhibit 31.1
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, W. Edward Walter, certify that:
| 1. | I have reviewed this quarterly report on Form 10-Q/A of Host Hotels & Resorts, Inc.; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
Dated: July 27, 2010
| /s/ W. Edward Walter |
| W. Edward Walter |
| President, Chief Executive Officer |
Exhibit 31.2
Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
I, Larry K. Harvey, certify that:
| 1. | I have reviewed this quarterly report on Form 10-Q/A of Host Hotels & Resorts, Inc.; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
Dated: July 27, 2010
| /s/ Larry K. Harvey |
| Larry K. Harvey |
| Executive Vice President, Chief Financial Officer |