XML 15 R5.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows from Operating Activities:    
Net income $ 26,346 $ 4,532
Amounts to reconcile net income to net cash flows provided by operating activities:    
Benefit for deferred income taxes (1,461) (241)
Depreciation and amortization 28,773 28,570
Amortization of deferred financing costs 1,216 1,396
Impairment and other charges   2,890
Loss on repurchase of warrants   20,186
Stock-based compensation expense 1,549 1,591
Changes in:    
Trade receivables (6,274) (24,976)
Accounts payable and accrued liabilities (668) (24,200)
Other assets and liabilities 3,792 (2,259)
Net cash flows provided by operating activities 53,273 7,489
Cash Flows from Investing Activities:    
Purchases of property and equipment (13,240) (18,655)
Proceeds from sale of Peterson LOI 6,785 10,000
Investment in Gaylord Rockies joint venture (21,523)  
Increase in restricted cash and cash equivalents (7,603) (3,594)
Other investing activities (1,575) (2,453)
Net cash flows used in investing activities (37,156) (14,702)
Cash Flows from Financing Activities:    
Net borrowings under credit facility 55,000 171,000
Repayments under term loan B (1,000) (1,000)
Repayment of note payable related to purchase of AC Hotel (6,000)  
Repurchase of common stock warrants   (154,681)
Repurchase of Company stock for retirement (24,811)  
Payment of dividend (36,433) (28,756)
Proceeds from exercise of stock options 913 1,015
Payment of tax withholdings for share-based compensation (2,921) (3,617)
Other financing activities (6) (157)
Net cash flows used in financing activities (15,258) (16,196)
Net change in cash and cash equivalents 859 (23,409)
Cash and cash equivalents - unrestricted, beginning of period 56,291 76,408
Cash and cash equivalents - unrestricted, end of period $ 57,150 $ 52,999