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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income (loss) $ 828 $ (910) $ (1,016)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Discontinued operations, net of income taxes 0 386 30
Depreciation and amortization 1,261 1,205 1,126
Amortization of deferred financing costs and discounts 200 297 347
Provision for doubtful accounts 41 25 26
Loss on extinguishment of debt 200 85 236
Non-cash lease amortization 51 54 39
(Gain) loss on investments (5) 54 107
Stock-based compensation expense 104 101 82
Loss on sale of businesses and disposal of property and equipment 22 5 11
Impairment charges 95 108 102
Deferred income taxes (888) (41) (283)
(Gain) loss on derivatives 0 (73) 127
Foreign currency transaction gain 0 0 (21)
Other non-cash adjustments to net (income) loss (40) (57) (8)
Change in operating assets and liabilities:      
Accounts receivable (82) (143) (135)
Prepaid expenses and other assets 39 (15) (67)
Income taxes (receivable) payable (27) (7) 13
Accounts payable, accrued expenses and other liabilities 10 (82) 482
Other 0 1 1
Net cash provided by operating activities 1,809 993 1,199
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property and equipment (1,264) (952) (520)
Acquisition of gaming rights and trademarks (30) (11) (312)
Proceeds from sale of businesses, property and equipment, net of cash sold 1 39 726
Proceeds from the sale of investments 4 126 239
Proceeds from insurance related to property damage 0 36 44
Investments in unconsolidated affiliates (3) 0 (39)
Other 36 (6) 0
Net cash used in investing activities (1,256) (768) (1,448)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from long-term debt and revolving credit facilities 5,460 1,500 1,308
Repayments of long-term debt and revolving credit facilities (6,106) (2,738) (1,977)
Financing obligation payments (8) (3) (5)
Debt issuance and extinguishment costs (79) (12) (56)
Proceeds from issuance of common stock 0 1 3
Cash paid to settle convertible notes 0 0 (367)
Taxes paid related to net share settlement of equity awards (27) (27) (45)
Payments to acquire ownership interest in subsidiary (66) 0 0
Contributions from noncontrolling interest owners 116 0 0
Distributions to noncontrolling interest (3) (3) (2)
Net cash used in financing activities (713) (1,282) (1,141)
CASH FLOWS FROM DISCONTINUED OPERATIONS:      
Cash flows from operating activities 0 (18) (27)
Cash flows from investing activities 0 386 (1,475)
Cash flows from financing activities 0 0 591
Net cash from discontinued operations 0 368 (911)
Change in cash, cash equivalents, and restricted cash classified as assets held for sale 0 0 10
Effect of foreign currency exchange rates on cash 0 (29) 32
Decrease in cash, cash equivalents and restricted cash (160) (718) (2,259)
Cash, cash equivalents and restricted cash, beginning of period 1,303 2,021 4,280
Cash, cash equivalents and restricted cash, end of period 1,143 1,303 2,021
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONSOLIDATED BALANCE SHEETS:      
Cash and cash equivalents 1,005 1,038 1,070
Restricted cash 122 131 319
Restricted and escrow cash included in other noncurrent assets 16 134 323
Cash and cash equivalents and restricted cash in discontinued operations 0 0 309
Total cash, cash equivalents and restricted cash 1,143 1,303 2,021
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash interest paid for debt 846 805 831
Interest Paid, Rent Related To Financing Obligations 1,286 1,205 1,092
Income taxes paid, net 26 22 9
NON-CASH INVESTING AND FINANCING ACTIVITIES:      
Payables for capital expenditures 169 145 100
Convertible notes settled with shares 0 0 440
Land contributed to joint venture 0 0 61
William Hill      
CASH FLOWS FROM INVESTING ACTIVITIES:      
Business acquisitions, net of cash acquired 0 0 (1,581)
Horseshoe Baltimore      
CASH FLOWS FROM INVESTING ACTIVITIES:      
Business acquisitions, net of cash acquired $ 0 $ 0 $ (5)