XML 16 R5.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 111,270 $ 72,612
Amounts to reconcile net income to net cash flows provided by operating activities:    
Provision (benefit) for deferred income taxes 279 (5,303)
Depreciation and amortization 81,888 85,467
Amortization of deferred financing costs 3,647 4,177
Impairment and other charges   2,890
Loss on repurchase of warrants   20,246
Write-off of deferred financing costs   1,926
Stock-based compensation expense 4,594 4,582
Changes in:    
Trade receivables (3,220) (18,619)
Accounts payable and accrued liabilities 2,647 (3,254)
Other assets and liabilities (1,989) (10,109)
Net cash flows provided by operating activities 199,116 154,615
Cash Flows from Investing Activities:    
Purchases of property and equipment (84,557) (63,352)
Proceeds from sale of Peterson LOI 6,785 10,000
Investment in Gaylord Rockies joint venture (50,443)  
Increase in restricted cash and cash equivalents (3,517) (4,444)
Other investing activities 273 2,533
Net cash flows used in investing activities (131,459) (55,263)
Cash Flows from Financing Activities:    
Net borrowings (repayments) under credit facility 60,500 (268,600)
Repayments under term loan B (3,000) (3,000)
Issuance of senior notes   400,000
Repayment of note payable related to purchase of AC Hotel (6,000)  
Repurchase of common stock warrants   (154,681)
Deferred financing costs paid   (11,145)
Repurchase of Company stock for retirement (24,811)  
Payment of dividend (112,900) (95,404)
Proceeds from exercise of stock options 1,284 1,430
Payment of tax withholdings for share-based compensation (3,150) (3,647)
Other financing activities (13) (373)
Net cash flows used in financing activities (88,090) (135,420)
Net change in cash and cash equivalents (20,433) (36,068)
Cash and cash equivalents - unrestricted, beginning of period 56,291 76,408
Cash and cash equivalents - unrestricted, end of period $ 35,858 $ 40,340