XML 28 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income $ (50,736) $ 22,670
Amounts to reconcile net income to net cash flows provided by operating activities:    
Provision for deferred income taxes 26,559 1,100
Depreciation and amortization 53,345 53,009
Amortization of deferred financing costs 1,894 1,927
Credit loss on held-to-maturity securities 5,828  
(Income) loss from unconsolidated joint ventures 1,895  
Stock-based compensation expense 2,230 2,026
Changes in:    
Trade receivables (8,345) (42,050)
Accounts payable and accrued liabilities (26,297) 17,632
Other assets and liabilities (1,702) (1,754)
Net cash flows provided by operating activities 4,671 54,560
Cash Flows from Investing Activities:    
Purchases of property and equipment (43,168) (48,873)
Investment in other joint ventures (3,090) (102)
Other investing activities 1,004 (127)
Net cash flows used in investing activities (45,254) (49,102)
Cash Flows from Financing Activities:    
Net borrowings under revolving credit facility 400,000 10,000
Deferred financing costs paid (106)  
Payment of dividends (50,078) (44,420)
Payment of tax withholdings for share-based compensation (1,631) (3,813)
Other financing activities (91) 1,605
Net cash flows provided by (used in) financing activities 346,844 (7,731)
Net change in cash, cash equivalents, and restricted cash 306,261 (2,273)
Cash, cash equivalents, and restricted cash, beginning of period 420,396 149,089
Cash, cash equivalents, and restricted cash, end of period 726,657 146,816
Term Loan B    
Cash Flows from Financing Activities:    
Repayments under term loan B $ (1,250)  
Gaylord Rockies [Member]    
Cash Flows from Financing Activities:    
Borrowing under Gaylord Rockies term loan   $ 28,897