XML 18 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income (loss) $ (863,939) $ 148,430
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 911,859 973,211
Amortization of debt discounts, premiums and issuance costs 24,918 29,539
Loss on early retirement of debt 126,462 55,932
Provision for doubtful accounts 76,228 30,456
Stock-based compensation 77,681 64,518
Property transactions, net 85,440 264,424
Gain on REIT transactions, net (1,491,945) 0
Noncash lease expense 139,914 47,753
Loss (income) from unconsolidated affiliates 31,956 (47,656)
Distributions from unconsolidated affiliates 62,399 0
Deferred income taxes 49,633 52,785
Change in operating assets and liabilities:    
Accounts receivable 192,393 (655,786)
Inventories 5,692 7,734
Income taxes receivable and payable, net (143,213) 4,555
Prepaid expenses and other (44,895) (23,105)
Accounts payable and accrued liabilities (450,378) 436,494
Other (39,810) (33,176)
Net cash provided by (used in) operating activities (1,249,605) 1,356,108
Cash flows from investing activities    
Capital expenditures, net of construction payable (177,571) (482,786)
Dispositions of property and equipment 433 1,936
Proceeds from Mandalay Bay and MGM Grand Las Vegas transaction 2,455,839 0
Investments in unconsolidated affiliates (71,110) (81,271)
Distributions from unconsolidated affiliates 63,578 99,661
Other 385 (31,112)
Net cash provided by (used in) investing activities 2,271,554 (1,029,253)
Cash flows from financing activities    
Net repayments under bank credit facilities – maturities of 90 days or less (1,071,180) (1,711,007)
Issuance of long-term debt 2,050,000 3,250,000
Retirement of senior notes (846,815) (1,759,978)
Debt issuance costs (42,030) (63,391)
Proceeds from issuance of bridge loan facility 1,304,625 0
Issuance of MGM Growth Properties Class A shares, net 524,704 699,362
Dividends paid to common shareholders (76,370) (205,163)
Distributions to noncontrolling interest owners (219,775) (172,239)
Purchases of common stock (353,720) (638,815)
Other (29,601) (18,655)
Net cash provided by (used in) financing activities 1,239,838 (619,886)
Effect of exchange rate on cash 2,481 (162)
Cash and cash equivalents    
Net increase (decrease) for the period 2,264,268 (293,193)
Balance, beginning of period 2,329,604 1,526,762
Balance, end of period 4,593,872 1,233,569
Supplemental cash flow disclosures    
Interest paid, net of amounts capitalized 428,520 597,785
Federal, state and foreign income taxes paid, net of refunds 8,595 18,222
Non-cash investing and financing activities    
Investment in MGP BREIT Venture 802,000 0
MGP BREIT Venture assumption of bridge loan facility 1,304,625 0
Empire City [Member]    
Cash flows from investing activities    
Acquisition, net of cash acquired $ 0 $ (535,681)