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SEC Filings

S-1/A
JONES LANG LASALLE INC filed this Form S-1/A on 07/03/1997
Entire Document
 
<PAGE>
 
                     LA SALLE PARTNERS LIMITED PARTNERSHIP
                               AND SUBSIDIARIES
 
               LA SALLE PARTNERS MANAGEMENT LIMITED PARTNERSHIP
                               AND SUBSIDIARIES
 
                       COMBINED STATEMENTS OF CASH FLOWS
                                (IN THOUSANDS)
 

<TABLE>
<CAPTION>
                                                              THREE MONTHS
                               YEARS ENDED DECEMBER 31,      ENDED MARCH 31,
                              ----------------------------  ------------------
                                1994      1995      1996      1996      1997
                              --------  --------  --------  --------  --------
                                                               (UNAUDITED)
<S>                           <C>       <C>       <C>       <C>       <C>
Cash flows from operating
 activities:
 Net earnings (loss)......... $ 12,302  $ 15,805  $ 19,964  $ (5,792) $ (4,719)
 Reconciliation of net
  earnings (loss) to net
  cash provided by operating
  activities:
   Depreciation and
    amortization.............    2,851     4,240     5,416     1,111     1,774
   Equity in earnings and
    gain on sale from
    unconsolidated ventures
    (note 6).................   (1,349)   (3,130)   (3,220)      (89)   (1,394)
   Provision for loss on
    receivables and other
    assets...................      247     2,732       986         3     1,140
   Operating distributions
    from unconsolidated
    ventures.................      398     1,078     3,571       629       386
 Changes in:
   Receivables...............    2,634    (9,699)  (17,234)   22,477    33,123
   Prepaid expenses and other
    assets...................     (312)      172        37        90        15
   Accounts payable, accrued
    liabilities and accrued
    compensation.............    7,857     2,355     4,444   (31,150)  (35,003)
                              --------  --------  --------  --------  --------
     Net cash provided by
      (used in) operating
      activities.............   24,628    13,553    13,964   (12,721)   (4,678)
Cash flows provided by (used
 in) investing activities:
 Net capital additions--
  property and equipment.....   (2,218)   (5,055)  (10,790)   (5,113)     (981)
 Acquisition of CIN (note
  3).........................      --        --    (15,700)      --        --
 Investments in real estate
  ventures:
   Capital contributions and
    advances to real estate
    ventures.................   (9,435)   (1,941)   (9,270)   (1,065)   (2,206)
   Distributions, repayments
    of advances and sale of
    investments..............    6,768     1,290     3,282       211     1,149
                              --------  --------  --------  --------  --------
     Net cash used in
      investing activities ..   (4,885)   (5,706)  (32,478)   (5,967)   (2,038)
Cash flows provided by (used
 in) financing activities:
 Net borrowings under credit
  facility...................   (2,000)    1,600    29,002    18,000    12,100
 Payment of subordinated
  notes payable..............  (14,106)      --        --        --        --

 Distributions to partners...  (10,962)  (13,965)  (11,813)   (3,079)   (4,395)
 Contributions from
  partners...................   15,040       --        --        --        --
                              --------  --------  --------  --------  --------
     Net cash provided by
      (used in) financing
      activities.............  (12,028)  (12,365)   17,189    14,921     7,705
 Effects of foreign currency
  translation on cash
  balances...................      --        --        210       --       (102)
                              --------  --------  --------  --------  --------
 Net increase (decrease) in
  cash and cash equivalents..    7,715    (4,518)   (1,115)   (3,767)      887
 Cash and cash equivalents,
  January 1..................    5,125    12,840     8,322     8,322     7,207
                              --------  --------  --------  --------  --------
 Cash and cash equivalents,
  December 31................ $ 12,840  $  8,322  $  7,207  $  4,555  $  8,094
                              ========  ========  ========  ========  ========
</TABLE>

 
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION (UNAUDITED WITH RESPECT TO
INFORMATION FOR THE THREE MONTHS ENDED MARCH 31, 1996 AND 1997):
 
  Combined interest paid was $5,217, $3,798 and $5,191 for the years ended
December 31, 1994, 1995 and 1996, respectively, and $12 and $773 for the three
months ended March 31, 1996 and 1997, respectively.
 
 
           See accompanying notes to combined financial statements.
 
                                      F-6


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