XML 16 R7.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Sep. 30, 2019
Cash flows provided by (used in) operating activities:          
Net income (loss) $ (49,929) $ 19,877 $ (180,536) $ 18,301  
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:          
Depreciation and amortization 26,477 22,810 82,847 92,682  
Non-cash operating lease expense     9,364    
Accretion of discounts     857 864  
Amortization of discounts and debt issuance costs     13,977 14,619  
Provision for losses on receivables     2,676 962  
Impairment of Mohegan Sun Pocono's intangible assets     126,596 0  
Deferred income tax provision     (3,262) 0  
Other, net     2,255 (26)  
Changes in operating assets and liabilities, net of effect of the MGE Niagara Resorts acquisition:          
Accounts receivable     1,237 (9,023)  
Accrued interest on notes receivable related to the Cowlitz Project     0 71,696  
Inventories     714 (269)  
Due from Ontario Lottery and Gaming Corporation     5,482 0  
Casino Operating and Services Agreement customer contract asset     (78,210) 0  
Other assets     398 (6,901)  
Trade payables     6,672 965  
Accrued interest     (5,402) (9,189)  
Due to Ontario Lottery and Gaming Corporation     3,598 0  
Operating lease liabilities     (162) 0  
Other liabilities     (22,713) (1,712)  
Net cash flows provided by (used in) operating activities     (33,612) 172,969  
Cash flows used in investing activities:          
Purchases of property and equipment     (104,384) (52,289)  
Acquisition of the MGE Niagara Resorts, net of cash acquired     (1,666) (72,287)  
Proceeds from notes receivable related to the Cowlitz Project     0 32,026  
Investment in Mohegan Hotel Holding, LLC     (10,750) 0 $ (5,000)
Other, net     (1,171) (12,698)  
Net cash flows used in investing activities     (117,971) (105,248)  
Cash flows provided by financing activities:          
Other borrowings     2,845 11,335  
Other repayments     (14,230) (6,938)  
Payments on finance lease obligations     (1,034) 0  
Distributions     (32,333) (39,000)  
Redemption of Mohegan Tribe membership interest in the Cowlitz Project     0 (10,000)  
Payments of financing fees     (34) (3,256)  
Other, net     (1,527) (1,527)  
Net cash flows provided by financing activities     84,579 52,181  
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents     (67,004) 119,902  
Effect of exchange rate on cash, cash equivalents, restricted cash and restricted cash equivalents     (1,444) (6,155)  
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period     280,729 234,626 234,626
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 212,281 348,373 212,281 348,373 280,729
Reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents to the condensed consolidated balance sheets:          
Cash and cash equivalents 149,435 162,066 149,435 162,066 130,138
Restricted cash and cash equivalents 1,698 9,321 1,698 9,321 4,960
Restricted cash and cash equivalents 61,148 176,986 61,148 176,986 145,631
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 212,281 $ 348,373 212,281 348,373 $ 280,729
Supplemental disclosures:          
Cash paid for interest     95,211 101,393  
Non-cash transactions:          
Right-of-use operating lease assets     360,933    
Right-of-use operating lease obligations     361,078    
Finance lease assets and obligations     2,511 29,140  
Construction payables     46,236 15,739  
MGE Niagara Resorts - recognition (derecognition) of build-to-suit asset and liability     (90,675) 77,403  
MGE Niagara Resorts – recognition of parking license asset and liability     0 5,222  
Payment by third-party for interactive gaming license     0 8,000  
Credit Facility | Bank of America, N.A. Revolving and Line of Credit          
Cash flows provided by financing activities:          
Senior secured credit facility borrowings - revolving and line of credit     807,525 1,014,972  
Senior secured credit facility repayments     (662,525) (966,972)  
Credit Facility | Senior Secured Credit Facility, Term Loan A and Term Loan B          
Cash flows provided by financing activities:          
Senior secured credit facility repayments     (37,104) (51,011)  
Non-cash transactions:          
Senior secured credit facility reductions     10,514 13,296  
Credit Facility | MGE Niagara Resorts Credit Facility - Revolving          
Cash flows provided by financing activities:          
Senior secured credit facility borrowings - revolving and line of credit     77,537 0  
Senior secured credit facility repayments     (51,110) 0  
Credit Facility | MGE Niagara Credit Facility          
Cash flows provided by financing activities:          
Senior secured credit facility borrowings - revolving and line of credit     0 75,220  
Senior secured credit facility repayments     (2,770) 0  
Convertible Debenture | MGE Niagara Credit Facility          
Cash flows provided by financing activities:          
Senior secured credit facility borrowings - revolving and line of credit     0 30,088  
Salishan Company, LLC          
Cash flows provided by financing activities:          
Distributions     $ (661) $ (730)