v3.26.1
Equity of Host Inc. and Capital of Host L.P.
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Equity of Host Inc. and Capital of Host L.P. Equity of Host Inc. and Capital of Host L.P.
Equity of Host Inc.
The components of the equity of Host Inc. are as follows (in millions):
Common StockAdditional Paid-in CapitalAccumulated Other Comprehensive LossRetained DeficitNon-redeemable, non-controlling interestsTotal equityRedeemable, non-controlling interests
Balance, December 31, 2025$7 $7,289 $(68)$(670)$3 $6,561 $171 
Net income— — — 731 1 732 10 
Changes in ownership and other— (56)— — — (56)56 
Other comprehensive income— — 2 — — 2 — 
Issuance of common stock for comprehensive stock plans, net— 1 — — — 1 — 
Dividends declared on common stock— — — (773)— (773)— 
Distributions to non-controlling interests — — — — — — (11)
Repurchase of common stock— (75)— — — (75)— 
Balance, June 30, 2026$7 $7,159 $(66)$(712)$4 $6,392 $226 
Common StockAdditional Paid-in CapitalAccumulated Other Comprehensive LossRetained DeficitNon-redeemable, non-controlling interestsTotal equityRedeemable, non-controlling interests
Balance, March 31, 2026$7 $7,199 $(65)$(314)$3 $6,830 $184 
Net income— — — 237 1 238 3 
Changes in ownership and other— (48)— — — (48)48 
Other comprehensive loss— — (1)— — (1)— 
Issuance of common stock for comprehensive stock plans, net— 8 — — — 8 — 
Dividends declared on common stock— — — (635)— (635)— 
Distributions to non-controlling interests — — — — — — (9)
Balance, June 30, 2026$7 $7,159 $(66)$(712)$4 $6,392 $226 
Common StockAdditional Paid-in CapitalAccumulated Other Comprehensive LossRetained DeficitNon-redeemable, non-controlling interestsTotal equityRedeemable, non-controlling interests
Balance, December 31, 2024$7 $7,462 $(83)$(777)$3 $6,612 $165 
Net income— — — 469 — 469 7 
Changes in ownership and other— 31 — — — 31 (32)
Other comprehensive income— — 9 — — 9 — 
Issuance of common stock for comprehensive stock plans, net— 2 — — — 2 — 
Dividends declared on common stock— — — (277)— (277)— 
Distributions to non-controlling interests— — — — — — (4)
Repurchase of common stock— (205)— — — (205)— 
Balance, June 30, 2025$7 $7,290 $(74)$(585)$3 $6,641 $136 
Common StockAdditional Paid-in CapitalAccumulated Other Comprehensive LossRetained DeficitNon-redeemable, non-controlling interestsTotal equityRedeemable, non-controlling interests
Balance, March 31, 2025$7 $7,390 $(79)$(668)$3 $6,653 $133 
Net income— — — 221 — 221 4 
Changes in ownership and other— (1)— — — (1)1 
Other comprehensive income— — 5 — — 5 — 
Issuance of common stock for comprehensive stock plans, net— 6 — — — 6 — 
Dividends declared on common stock— — — (138)— (138)— 
Distributions to non-controlling interests— — — — — — (2)
Repurchase of common stock— (105)— — — (105)— 
Balance, June 30, 2025$7 $7,290 $(74)$(585)$3 $6,641 $136 
Capital of Host L.P.
As of June 30, 2026, Host Inc. is the owner of approximately 99% of Host L.P.’s common OP units. The remaining common OP units are owned by unaffiliated limited partners. Each common OP unit may be redeemed for cash or, at the election of Host Inc., Host Inc. common stock, based on the conversion ratio of 1.021494 shares of Host Inc. common stock for each common OP unit.
In exchange for any shares issued by Host Inc., Host L.P. will issue common OP units to Host Inc. based on the applicable conversion ratio. Additionally, funds used by Host Inc. to pay dividends on its common stock are provided by distributions from Host L.P.
The components of the Capital of Host L.P. are as follows (in millions):
General PartnerLimited PartnerAccumulated Other Comprehensive LossNon-controlling interestsTotal capital
Limited partnership interests of third parties
Balance, December 31, 2025$1 $6,625 $(68)$3 $6,561 $171 
Net income— 731 — 1 732 10 
Changes in ownership and other— (56)— — (56)56 
Other comprehensive income— — 2 — 2 — 
Issuance of common OP units to Host Inc. for comprehensive stock plans, net— 1 — — 1 — 
Distributions declared on common OP units — (773)— — (773)(11)
Repurchase of common OP units— (75)— — (75)— 
Balance, June 30, 2026$1 $6,453 $(66)$4 $6,392 $226 
General PartnerLimited PartnerAccumulated Other Comprehensive LossNon-controlling interestsTotal capital
Limited partnership interests of third parties
Balance, March 31, 2026$1 $6,891 $(65)$3 $6,830 $184 
Net income— 237 — 1 238 3 
Changes in ownership and other— (48)— — (48)48 
Other comprehensive loss— — (1)— (1)— 
Issuance of common OP units to Host Inc. for comprehensive stock plans, net— 8 — — 8 — 
Distributions declared on common OP units — (635)— — (635)(9)
Balance, June 30, 2026$1 $6,453 $(66)$4 $6,392 $226 
General PartnerLimited PartnerAccumulated Other Comprehensive LossNon-controlling interestsTotal capitalLimited partnership interests of third parties
Balance, December 31, 2024$1 $6,691 $(83)$3 $6,612 $165 
Net income— 469 — — 469 7 
Changes in ownership and other— 31 — — 31 (32)
Other comprehensive income— — 9 — 9 — 
Issuance of common OP units to Host Inc. for comprehensive stock plans, net— 2 — — 2 — 
Distributions declared on common OP units— (277)— — (277)(4)
Repurchase of common OP units— (205)— — (205)— 
Balance, June 30, 2025$1 $6,711 $(74)$3 $6,641 $136 
General PartnerLimited PartnerAccumulated Other Comprehensive LossNon-controlling interestsTotal capitalLimited partnership interests of third parties
Balance, March 31, 2025$1 $6,728 $(79)$3 $6,653 $133 
Net income— 221 — — 221 4 
Changes in ownership and other— (1)— — (1)1 
Other comprehensive income— — 5 — 5 — 
Issuance of common OP units to Host Inc. for comprehensive stock plans, net— 6 — — 6 — 
Distributions declared on common OP units— (138)— — (138)(2)
Repurchase of common OP units— (105)— — (105)— 
Balance, June 30, 2025$1 $6,711 $(74)$3 $6,641 $136 
Share Repurchases
There were no share repurchases during the second quarter of 2026. For the year-to-date ended June 30, 2026, we repurchased 4.0 million shares of Host Inc. common stock at an average price of $18.97 per share, exclusive of commissions, through our common share repurchase program for a total of $75 million. As of June 30, 2026, there was $405 million available for repurchases under our common share repurchase program.
Issuance of Common Stock
As of June 30, 2026, there was $600 million of remaining capacity to issue common shares of Host Inc. under our "at the market" distribution agreement. There were no shares issued during year-to-date 2026.
Dividends/Distributions
On May 6, 2026, Host Inc.'s Board of Directors authorized a second quarter cash dividend of $0.92 per share on its common stock, consisting of a regular quarterly cash dividend of $0.20 per share and a special dividend of $0.72 per share. The dividend was paid on July 15, 2026 to stockholders of record as of June 30, 2026. Accordingly, Host L.P. made a distribution of $0.9397745 per unit on its common OP units based on the current conversion ratio.