Consolidating Financial Information of Guarantors and Issuers (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Consolidated Financial Information [Abstract]

Condensed Consolidating Balance Sheet

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2019

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	—	$	66,357	$	116,428	$	(533	)	$	182,252
Receivables	—			1,299		35,309		1,077,688		(1,051,190		)	63,106
Inventories	—			—		2,786		30,116		—			32,902
Other current assets	182			1,269		541		13,929		—			15,921
	182			2,568		104,993		1,238,161		(1,051,723		)	294,181
Property and Equipment, net	—			769		183,468		1,657,371		—			1,841,608
Investment in Park	641,068			1,356,149		292,744		246,629		(2,536,590		)	—
Goodwill	674			—		61,382		297,598		—			359,654
Other Intangibles, net	—			—		13,682		46,217		—			59,899
Deferred Tax Asset	—			24,308		—		—		(24,308		)	—
Right-of-Use Asset	—			—		157		14,167		—			14,324
Other Assets	—			—		38		11,441		—			11,479
	$	641,924		$	1,383,794	$	656,464	$	3,511,584	$	(3,612,621	)	$	2,581,145
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	1,313	$	—	$	6,187	$	—		$	7,500
Accounts payable	644,839			407,384		2,799		26,045		(1,051,723		)	29,344
Deferred revenue	—			—		10,930		140,447		—			151,377
Accrued interest	7			5		2,054		19,376		—			21,442
Accrued taxes	448			1,656		2,819		34,314		—			39,237
Accrued salaries, wages and benefits	—			27,080		2,469		—		—			29,549
Self-insurance reserves	—			10,549		1,624		12,492		—			24,665
Other accrued liabilities	6,596			6,389		279		7,760		—			21,024
	651,890			454,376		22,974		246,621		(1,051,723		)	324,138
Deferred Tax Liability	—			—		16,621		89,733		(24,308		)	82,046
Derivative Liability	—			18,108		—		—		—			18,108
Lease Liability	—			—		125		10,475		—			10,600
Other Liabilities	—			935		—		9,401		—			10,336
Long-Term Debt:
Term debt	—			125,425		—		588,725		—			714,150
Notes	—			—		446,781		984,952		—			1,431,733
	—			125,425		446,781		1,573,677		—			2,145,883
Partners' (Deficit) Equity	(9,966		)	784,950		169,963		1,581,677		(2,536,590		)	(9,966		)
	$	641,924		$	1,383,794	$	656,464	$	3,511,584	$	(3,612,621	)	$	2,581,145

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2018

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	73,326	$	32,715	$	(692	)	$	105,349
Receivables	—		1,093		34,497		938,397		(922,469		)	51,518
Inventories	—		—		2,135		28,618		—			30,753
Other current assets	179		1,411		5,462		10,544		(5,007		)	12,589
	179		2,504		115,420		1,010,274		(928,168		)	200,209
Property and Equipment, net	—		802		172,344		1,426,292		—			1,599,438
Investment in Park	601,706		1,182,345		262,462		218,575		(2,265,088		)	—
Goodwill	674		—		58,440		119,605		—			178,719
Other Intangibles, net	—		—		13,030		23,346		—			36,376
Deferred Tax Asset	—		18,224		—		—		(18,224		)	—
Other Assets	—		—		36		9,405		—			9,441
	$	602,559	$	1,203,875	$	621,732	$	2,807,497	$	(3,211,480	)	$	2,024,183
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	984	$	—	$	4,641	$	—		$	5,625
Accounts payable	565,472		359,953		2,430		18,620		(923,161		)	23,314
Deferred revenue	—		—		8,460		98,614		—			107,074
Accrued interest	1		1		2,054		5,871		—			7,927
Accrued taxes	443		6,668		—		27,487		(5,007		)	29,591
Accrued salaries, wages and benefits	—		17,552		1,234		—		—			18,786
Self-insurance reserves	—		10,214		1,433		12,374		—			24,021
Other accrued liabilities	3,318		4,903		136		10,024		—			18,381
	569,234		400,275		15,747		177,631		(928,168		)	234,719
Deferred Tax Liability	—		—		12,425		87,516		(18,224		)	81,717
Derivative Liability	909		5,796		—		—		—			6,705
Other Liabilities	—		1,169		—		9,889		—			11,058
Long-Term Debt:
Term debt	—		126,525		—		592,982		—			719,507
Notes	—		—		446,241		491,820		—			938,061
	—		126,525		446,241		1,084,802		—			1,657,568
Partners' Equity	32,416		670,110		147,319		1,447,659		(2,265,088		)	32,416
	$	602,559	$	1,203,875	$	621,732	$	2,807,497	$	(3,211,480	)	$	2,024,183

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2019

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	—	$	66,357	$	115,437	$	991	$	(533	)	$	182,252
Receivables	—			1,299		35,309		45,349		1,032,339		(1,051,190		)	63,106
Inventories	—			—		2,786		25,413		4,703		—			32,902
Other current assets	182			1,269		541		12,617		1,312		—			15,921
	182			2,568		104,993		198,816		1,039,345		(1,051,723		)	294,181
Property and Equipment, net	—			769		183,468		—		1,657,371		—			1,841,608
Investment in Park	641,068			1,356,149		292,744		2,141,806		246,629		(4,678,396		)	—
Goodwill	674			—		61,382		186,381		111,217		—			359,654
Other Intangibles, net	—			—		13,682		—		46,217		—			59,899
Deferred Tax Asset	—			24,308		—		—		—		(24,308		)	—
Right-of-Use Asset	—			—		157		13,460		707		—			14,324
Other Assets	—			—		38		2,470		8,971		—			11,479
	$	641,924		$	1,383,794	$	656,464	$	2,542,933	$	3,110,457	$	(5,754,427	)	$	2,581,145
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	1,313	$	—	$	6,187	$	—	$	—		$	7,500
Accounts payable	644,839			407,384		2,799		19,553		6,492		(1,051,723		)	29,344
Deferred revenue	—			—		10,930		112,544		27,903		—			151,377
Accrued interest	7			5		2,054		19,376		—		—			21,442
Accrued taxes	448			1,656		2,819		8,791		25,523		—			39,237
Accrued salaries, wages and benefits	—			27,080		2,469		—		—		—			29,549
Self-insurance reserves	—			10,549		1,624		10,797		1,695		—			24,665
Other accrued liabilities	6,596			6,389		279		5,853		1,907		—			21,024
	651,890			454,376		22,974		183,101		63,520		(1,051,723		)	324,138
Deferred Tax Liability	—			—		16,621		—		89,733		(24,308		)	82,046
Derivative Liability	—			18,108		—		—		—		—			18,108
Lease Liability	—			—		125		10,018		457		—			10,600
Other Liabilities	—			935		—		87		9,314		—			10,336
Long-Term Debt:
Term debt	—			125,425		—		588,725		—		—			714,150
Notes	—			—		446,781		984,952		—		—			1,431,733
	—			125,425		446,781		1,573,677		—		—			2,145,883
Partners' (Deficit) Equity	(9,966		)	784,950		169,963		776,050		2,947,433		(4,678,396		)	(9,966		)
	$	641,924		$	1,383,794	$	656,464	$	2,542,933	$	3,110,457	$	(5,754,427	)	$	2,581,145

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2018

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	73,326	$	30,663	$	2,052	$	(692	)	$	105,349
Receivables	—		1,093		34,497		36,242		902,155		(922,469		)	51,518
Inventories	—		—		2,135		23,402		5,216		—			30,753
Other current assets	179		1,411		5,462		8,980		1,564		(5,007		)	12,589
	179		2,504		115,420		99,287		910,987		(928,168		)	200,209
Property and Equipment, net	—		802		172,344		—		1,426,292		—			1,599,438
Investment in Park	601,706		1,182,345		262,462		1,517,897		218,574		(3,782,984		)	—
Goodwill	674		—		58,440		8,388		111,217		—			178,719
Other Intangibles, net	—		—		13,030		—		23,346		—			36,376
Deferred Tax Asset	—		18,224		—		—		—		(18,224		)	—
Other Assets	—		—		36		417		8,988		—			9,441
	$	602,559	$	1,203,875	$	621,732	$	1,625,989	$	2,699,404	$	(4,729,376	)	$	2,024,183
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—	$	984	$	—	$	4,641	$	—	$	—		$	5,625
Accounts payable	565,472		359,953		2,430		14,995		3,625		(923,161		)	23,314
Deferred revenue	—		—		8,460		74,062		24,552		—			107,074
Accrued interest	1		1		2,054		5,871		—		—			7,927
Accrued taxes	443		6,668		—		8,087		19,400		(5,007		)	29,591
Accrued salaries, wages and benefits	—		17,552		1,234		—		—		—			18,786
Self-insurance reserves	—		10,214		1,433		10,308		2,066		—			24,021
Other accrued liabilities	3,318		4,903		136		5,471		4,553		—			18,381
	569,234		400,275		15,747		123,435		54,196		(928,168		)	234,719
Deferred Tax Liability	—		—		12,425		—		87,516		(18,224		)	81,717
Derivative Liability	909		5,796		—		—		—		—			6,705
Other Liabilities	—		1,169		—		87		9,802		—			11,058
Long-Term Debt:
Term debt	—		126,525		—		592,982		—		—			719,507
Notes	—		—		446,241		491,820		—		—			938,061
	—		126,525		446,241		1,084,802		—		—			1,657,568
Partners' Equity	32,416		670,110		147,319		417,665		2,547,890		(3,782,984		)	32,416
	$	602,559	$	1,203,875	$	621,732	$	1,625,989	$	2,699,404	$	(4,729,376	)	$	2,024,183

Condensed Consolidating Statement of Operations

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2019

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	96,986		$	369,633		$	149,792		$	1,370,420		$	(511,906	)	$	1,474,925
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			12,848			113,416			—			126,264
Operating expenses	2			363,392			54,063			736,649			(511,906		)	642,200
Selling, general and administrative	3,189			74,670			12,457			131,936			—			222,252
Depreciation and amortization	—			33			16,389			154,034			—			170,456
(Gain) loss on impairment / retirement of fixed assets, net	—			—			(259		)	5,190			—			4,931
Gain on sale of investment	—			(617		)	—			—			—			(617		)
	3,191			437,478			95,498			1,141,225			(511,906		)	1,165,486
Operating income (loss)	93,795			(67,845		)	54,294			229,195			—			309,439
Interest expense, net	26,356			20,833			23,856			27,286			—			98,331
Net effect of swaps	2,168			14,364			—			—			—			16,532
Gain on foreign currency	—			(2		)	(21,105		)	—			—			(21,107		)
Other expense (income)	250			(79,875		)	3,899			76,255			—			529
Income from investment in affiliates	(119,542		)	(138,997		)	(30,282		)	(72,210		)	361,031			—
Income before taxes	184,563			115,832			77,926			197,864			(361,031		)	215,154
Provision (benefit) for taxes	12,198			(3,709		)	5,717			28,583			—			42,789
Net income	$	172,365		$	119,541		$	72,209		$	169,281		$	(361,031	)	$	172,365
Other comprehensive loss, (net of tax):
Foreign currency translation	(11,536		)	—			(11,536		)	—			11,536			(11,536		)
Other comprehensive loss, (net of tax)	(11,536		)	—			(11,536		)	—			11,536			(11,536		)
Total comprehensive income	$	160,829		$	119,541		$	60,673		$	169,281		$	(349,495	)	$	160,829

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries		Eliminations			Total
Net revenues	$	103,687		$	336,778		$	124,506		$	1,268,200	$	(484,641	)	$	1,348,530
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,841			103,892		—			114,733
Operating expenses	—			328,709			47,551			692,731		(484,641		)	584,350
Selling, general and administrative	2,301			67,582			10,586			112,864		—			193,333
Depreciation and amortization	—			33			15,273			140,223		—			155,529
Loss on impairment / retirement of fixed assets, net	—			—			221			9,957		—			10,178
Gain on sale of investment	—			(112		)	—			—		—			(112		)
	2,301			396,212			84,472			1,059,667		(484,641		)	1,058,011
Operating income (loss)	101,386			(59,434		)	40,034			208,533		—			290,519
Interest expense, net	23,339			18,331			23,988			18,514		—			84,172
Net effect of swaps	1,228			6,214			—			—		—			7,442
Loss on early debt extinguishment	—			187			—			886		—			1,073
Loss on foreign currency	—			51			36,203			—		—			36,254
Other expense (income)	250			(78,571		)	4,196			74,307		—			182
(Income) loss from investment in affiliates	(61,484		)	(62,244		)	(24,329		)	2,517		145,540			—
Income (loss) before taxes	138,053			56,598			(24		)	112,309		(145,540		)	161,396
Provision (benefit) for taxes	11,400			(4,886		)	2,494			25,735		—			34,743
Net income (loss)	$	126,653		$	61,484		$	(2,518	)	$	86,574	$	(145,540	)	$	126,653
Other comprehensive income, (net of tax):
Foreign currency translation	17,240			—			17,240			—		(17,240		)	17,240
Cash flow hedging derivative activity	8,366			2,813			—			—		(2,813		)	8,366
Other comprehensive income, (net of tax)	25,606			2,813			17,240			—		(20,053		)	25,606
Total comprehensive income	$	152,259		$	64,297		$	14,722		$	86,574	$	(165,593	)	$	152,259

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	104,080		$	317,496		$	127,929		$	1,239,067		$	(466,605	)	$	1,321,967
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			11,483			99,328			—			110,811
Operating expenses	—			313,654			44,990			666,063			(466,605		)	558,102
Selling, general and administrative	3,007			67,872			10,497			112,394			—			193,770
Depreciation and amortization	—			33			15,654			137,535			—			153,222
Loss on impairment / retirement of fixed assets, net	—			—			656			12,072			—			12,728
Gain on sale of other assets	—			(1,877		)	—			—			—			(1,877		)
	3,007			379,682			83,280			1,027,392			(466,605		)	1,026,756
Operating income (loss)	101,073			(62,186		)	44,649			211,675			—			295,211
Interest expense, net	23,739			18,837			24,839			17,333			—			84,748
Net effect of swaps	(150		)	105			—			—			—			(45		)
Loss on early debt extinguishment	11,773			8,188			205			2,955			—			23,121
Gain on foreign currency	—			(25		)	(29,061		)	—			—			(29,086		)
Other expense (income)	250			(73,581		)	3,460			69,756			—			(115		)
Income from investment in affiliates	(160,925		)	(176,698		)	(38,057		)	(84,398		)	460,078			—
Income before taxes	226,386			160,988			83,263			206,029			(460,078		)	216,588
Provision (benefit) for taxes	10,910			60			(1,134		)	(8,724		)	—			1,112
Net income	$	215,476		$	160,928		$	84,397		$	214,753		$	(460,078	)	$	215,476
Other comprehensive (loss) income, (net of tax):
Foreign currency translation	(14,849		)	—			(14,849		)	—			14,849			(14,849		)
Cash flow hedging derivative activity	7,975			2,422			—			—			(2,422		)	7,975
Other comprehensive (loss) income, (net of tax)	(6,874		)	2,422			(14,849		)	—			12,427			(6,874		)
Total comprehensive income	$	208,602		$	163,350		$	69,548		$	214,753		$	(447,651	)	$	208,602

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2019

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	96,986		$	369,633		$	149,792		$	1,095,918	$	402,256		$	(639,660	)	$	1,474,925
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			12,848			94,639		18,777			—			126,264
Operating expenses	2			363,392			54,063			818,748		45,655			(639,660		)	642,200
Selling, general and administrative	3,189			74,670			12,457			112,329		19,607			—			222,252
Depreciation and amortization	—			33			16,389			26		154,008			—			170,456
(Gain) loss on impairment / retirement of fixed assets, net	—			—			(259		)	1,253		3,937			—			4,931
Gain on sale of investment	—			(617		)	—			—		—			—			(617		)
	3,191			437,478			95,498			1,026,995		241,984			(639,660		)	1,165,486
Operating income (loss)	93,795			(67,845		)	54,294			68,923		160,272			—			309,439
Interest expense, net	26,356			20,833			23,856			67,128		(39,842		)	—			98,331
Net effect of swaps	2,168			14,364			—			—		—			—			16,532
Gain on foreign currency	—			(2		)	(21,105		)	—		—			—			(21,107		)
Other expense (income)	250			(79,875		)	3,899			—		76,255			—			529
Income from investment in affiliates	(119,542		)	(138,997		)	(30,282		)	—		(72,210		)	361,031			—
Income before taxes	184,563			115,832			77,926			1,795		196,069			(361,031		)	215,154
Provision (benefit) for taxes	12,198			(3,709		)	5,717			1,795		26,788			—			42,789
Net income	$	172,365		$	119,541		$	72,209		$	—	$	169,281		$	(361,031	)	$	172,365
Other comprehensive loss, (net of tax):
Foreign currency translation	(11,536		)	—			(11,536		)	—		—			11,536			(11,536		)
Other comprehensive loss, (net of tax)	(11,536		)	—			(11,536		)	—		—			11,536			(11,536		)
Total comprehensive income	$	160,829		$	119,541		$	60,673		$	—	$	169,281		$	(349,495	)	$	160,829

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	103,687		$	336,778		$	124,506		$	995,350	$	382,569		$	(594,360	)	$	1,348,530
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			10,841			85,698		18,194			—			114,733
Operating expenses	—			328,709			47,551			759,590		42,860			(594,360		)	584,350
Selling, general and administrative	2,301			67,582			10,586			93,734		19,130			—			193,333
Depreciation and amortization	—			33			15,273			—		140,223			—			155,529
Loss on impairment / retirement of fixed assets, net	—			—			221			2,260		7,697			—			10,178
Gain on sale of investment	—			(112		)	—			—		—			—			(112		)
	2,301			396,212			84,472			941,282		228,104			(594,360		)	1,058,011
Operating income (loss)	101,386			(59,434		)	40,034			54,068		154,465			—			290,519
Interest expense, net	23,339			18,331			23,988			51,643		(33,129		)	—			84,172
Net effect of swaps	1,228			6,214			—			—		—			—			7,442
Loss on early debt extinguishment	—			187			—			886		—			—			1,073
Loss on foreign currency	—			51			36,203			—		—			—			36,254
Other expense (income)	250			(78,571		)	4,196			—		74,307			—			182
(Income) loss from investment in affiliates	(61,484		)	(62,244		)	(24,329		)	—		2,517			145,540			—
Income (loss) before taxes	138,053			56,598			(24		)	1,539		110,770			(145,540		)	161,396
Provision (benefit) for taxes	11,400			(4,886		)	2,494			1,539		24,196			—			34,743
Net income (loss)	$	126,653		$	61,484		$	(2,518	)	$	—	$	86,574		$	(145,540	)	$	126,653
Other comprehensive income, (net of tax):
Foreign currency translation	17,240			—			17,240			—		—			(17,240		)	17,240
Cash flow hedging derivative activity	8,366			2,813			—			—		—			(2,813		)	8,366
Other comprehensive income, (net of tax)	25,606			2,813			17,240			—		—			(20,053		)	25,606
Total comprehensive income	$	152,259		$	64,297		$	14,722		$	—	$	86,574		$	(165,593	)	$	152,259

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)		Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	104,080		$	317,496		$	127,929		$	960,108	$	395,745		$	(583,391	)	$	1,321,967
Costs and expenses:
Cost of food, merchandise and games revenues	—			—			11,483			80,942		18,386			—			110,811
Operating expenses	—			313,654			44,990			738,719		44,130			(583,391		)	558,102
Selling, general and administrative	3,007			67,872			10,497			92,527		19,867			—			193,770
Depreciation and amortization	—			33			15,654			—		137,535			—			153,222
Loss on impairment / retirement of fixed assets, net	—			—			656			3,102		8,970			—			12,728
Gain on sale of investment	—			(1,877		)	—			—		—			—			(1,877		)
	3,007			379,682			83,280			915,290		228,888			(583,391		)	1,026,756
Operating income (loss)	101,073			(62,186		)	44,649			44,818		166,857			—			295,211
Interest expense, net	23,739			18,837			24,839			39,768		(22,435		)	—			84,748
Net effect of swaps	(150		)	105			—			—		—			—			(45		)
Loss on early debt extinguishment	11,773			8,188			205			2,955		—			—			23,121
Gain on foreign currency	—			(25		)	(29,061		)	—		—			—			(29,086		)
Other expense (income)	250			(73,581		)	3,460			—		69,756			—			(115		)
Income from investment in affiliates	(160,925		)	(176,698		)	(38,057		)	—		(84,398		)	460,078			—
Income before taxes	226,386			160,988			83,263			2,095		203,934			(460,078		)	216,588
Provision (benefit) for taxes	10,910			60			(1,134		)	2,095		(10,819		)	—			1,112
Net income	$	215,476		$	160,928		$	84,397		$	—	$	214,753		$	(460,078	)	$	215,476
Other comprehensive (loss) income, (net of tax):
Foreign currency translation	(14,849		)	—			(14,849		)	—		—			14,849			(14,849		)
Cash flow hedging derivative activity	7,975			2,422			—			—		—			(2,422		)	7,975
Other comprehensive (loss) income, (net of tax)	(6,874		)	2,422			(14,849		)	—		—			12,427			(6,874		)
Total comprehensive income	$	208,602		$	163,350		$	69,548		$	—	$	214,753		$	(447,651	)	$	208,602

Condensed Consolidating Statement of Cash Flows

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2019

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	131,442		$	(81,813	)	$	46,755		$	307,257		$	(600	)	$	403,041
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(129,111		)	129,111			—
Proceeds from returns on investments	—			38,030			—			—			(38,030		)	—
Proceeds from sale of investment	—			617			—			—			—			617
Acquisitions, net of cash acquired	—			—			—			(270,171		)	—			(270,171		)
Capital expenditures	—			—			(19,303		)	(311,359		)	—			(330,662		)
Net cash from (for) investing activities	—			38,647			(19,303		)	(710,641		)	91,081			(600,216		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	79,328			49,783			—			—			(129,111		)	—
Payments for returns of capital	—			—			(38,030		)	—			38,030			—
Note borrowings	—			—			—			500,000			—			500,000
Term debt payments	—			(984		)	—			(4,641		)	—			(5,625		)
Distributions paid to partners	(210,770		)	—			—			—			759			(210,011		)
Payment of debt issuance costs and original issue discount	—			—			—			(8,262		)	—			(8,262		)
Tax effect of units involved in treasury unit transactions	—			(1,383		)	—			—			—			(1,383		)
Payments related to tax withholding for equity compensation	—			(4,250		)	—			—			—			(4,250		)
Net cash from (for) financing activities	(131,442		)	43,166			(38,030		)	487,097			(90,322		)	270,469
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			3,609			—			—			3,609
CASH AND CASH EQUIVALENTS
Net (decrease) increase for the year	—			—			(6,969		)	83,713			159			76,903
Balance, beginning of year	—			—			73,326			32,715			(692		)	105,349
Balance, end of year	$	—		$	—		$	66,357		$	116,428		$	(533	)	$	182,252

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	136,471		$	11,057		$	12,901		$	191,056		$	(745	)	$	350,740
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(67,861		)	67,861			—
Proceeds from sale of investment	—			112			—			—			—			112
Capital expenditures	—			—			(19,976		)	(169,840		)	—			(189,816		)
Net cash from (for) investing activities	—			112			(19,976		)	(237,701		)	67,861			(189,704		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	67,876			(15		)	—			—			(67,861		)	—
Distributions paid to partners	(204,347		)	—			—			—			1,148			(203,199		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,222		)	—			(2,543		)
Exercise of limited partnership unit options	—			125			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(2,530		)	—			—			—			(2,530		)
Payments related to tax withholding for equity compensation	—			(8,428		)	—			—			—			(8,428		)
Net cash for financing activities	(136,471		)	(11,169		)	—			(2,222		)	(66,713		)	(216,575		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(5,357		)	—			—			(5,357		)
CASH AND CASH EQUIVALENTS
Net decrease for the year	—			—			(12,432		)	(48,867		)	403			(60,896		)
Balance, beginning of year	—			—			85,758			81,582			(1,095		)	166,245
Balance, end of year	$	—		$	—		$	73,326		$	32,715		$	(692	)	$	105,349

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	93,378		$	(10,710	)	$	40,569		$	209,780		$	(1,838	)	$	331,179
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			(278,051		)	278,051			—
Proceeds from returns on investments	338,000			15,500			—			146,500			(500,000		)	—
Proceeds from sale of investment	—			3,281			—			—			—			3,281
Capital expenditures	—			(25		)	(10,160		)	(177,965		)	—			(188,150		)
Net cash from (for) investing activities	338,000			18,756			(10,160		)	(309,516		)	(221,949		)	(184,869		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	69,160			208,891			—			—			(278,051		)	—
Payments for returns of capital	—			—			—			(500,000		)	500,000			—
Term debt borrowings	—			131,000			—			619,000			—			750,000
Note borrowings	—			—			—			500,000			—			500,000
Term debt payments	—			(126,619		)	(13,854		)	(477,377		)	—			(617,850		)
Note payments, including amounts paid for early termination	(304,014		)	(211,444		)	—			—			—			(515,458		)
Distributions paid to partners	(196,524		)	—			—			—			1,768			(194,756		)
Payment of debt issuance costs and original issue discount	—			(1,326		)	—			(18,483		)	—			(19,809		)
Exercise of limited partnership unit options	—			65			—			—			—			65
Tax effect of units involved in treasury unit transactions	—			(4,440		)	—			—			—			(4,440		)
Payments related to tax withholding for equity compensation	—			(4,173		)	—			—			—			(4,173		)
Net cash from (for) financing activities	(431,378		)	(8,046		)	(13,854		)	123,140			223,717			(106,421		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			3,640			—			—			3,640
CASH AND CASH EQUIVALENTS
Net increase for the year	—			—			20,195			23,404			(70		)	43,529
Balance, beginning of year	—			—			65,563			58,178			(1,025		)	122,716
Balance, end of year	$	—		$	—		$	85,758		$	81,582		$	(1,095	)	$	166,245

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2019

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	131,442		$	(81,813	)	$	46,755		$	137,599		$	169,658		$	(600	)	$	403,041
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			—			(129,111		)	129,111			—
Proceeds from returns on investments	—			38,030			—			—			—			(38,030		)	—
Proceeds from sale of investment	—			617			—			—			—			—			617
Acquisitions, net of cash acquired	—			—			—			(270,171		)	—			—			(270,171		)
Capital expenditures	—			—			(19,303		)	(269,751		)	(41,608		)	—			(330,662		)
Net cash from (for) investing activities	—			38,647			(19,303		)	(539,922		)	(170,719		)	91,081			(600,216		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	79,328			49,783			—			—			—			(129,111		)	—
Payments for returns of capital	—			—			(38,030		)	—			—			38,030			—
Note borrowings	—			—			—			500,000			—			—			500,000
Term debt payments	—			(984		)	—			(4,641		)	—			—			(5,625		)
Distributions paid to partners	(210,770		)	—			—			—			—			759			(210,011		)
Payment of debt issuance costs and original issue discount	—			—			—			(8,262		)	—			—			(8,262		)
Tax effect of units involved in treasury unit transactions	—			(1,383		)	—			—			—			—			(1,383		)
Payments related to tax withholding for equity compensation	—			(4,250		)	—			—			—			—			(4,250		)
Net cash from (for) financing activities	(131,442		)	43,166			(38,030		)	487,097			—			(90,322		)	270,469
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			3,609			—			—			—			3,609
CASH AND CASH EQUIVALENTS
Net (decrease) increase for the year	—			—			(6,969		)	84,774			(1,061		)	159			76,903
Balance, beginning of year	—			—			73,326			30,663			2,052			(692		)	105,349
Balance, end of year	$	—		$	—		$	66,357		$	115,437		$	991		$	(533	)	$	182,252

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2018

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM OPERATING ACTIVITIES	$	136,471		$	11,057		$	12,901		$	78,559		$	112,497		$	(745	)	$	350,740
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			—			(67,861		)	67,861			—
Proceeds from sale of investment	—			112			—			—			—			—			112
Capital expenditures	—			—			(19,976		)	(126,104		)	(43,736		)	—			(189,816		)
Net cash from (for) investing activities	—			112			(19,976		)	(126,104		)	(111,597		)	67,861			(189,704		)
CASH FLOWS FOR FINANCING ACTIVITIES
Intercompany payables (payments) receipts	67,876			(15		)	—			—			—			(67,861		)	—
Distributions paid to partners	(204,347		)	—			—			—			—			1,148			(203,199		)
Payment of debt issuance costs and original issue discount	—			(321		)	—			(2,222		)	—			—			(2,543		)
Exercise of limited partnership unit options	—			125			—			—			—			—			125
Tax effect of units involved in treasury unit transactions	—			(2,530		)	—			—			—			—			(2,530		)
Payments related to tax withholding for equity compensation	—			(8,428		)	—			—			—			—			(8,428		)
Net cash for financing activities	(136,471		)	(11,169		)	—			(2,222		)	—			(66,713		)	(216,575		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(5,357		)	—			—			—			(5,357		)
CASH AND CASH EQUIVALENTS
Net (decrease) increase for the year	—			—			(12,432		)	(49,767		)	900			403			(60,896		)
Balance, beginning of year	—			—			85,758			80,430			1,152			(1,095		)	166,245
Balance, end of year	$	—		$	—		$	73,326		$	30,663		$	2,052		$	(692	)	$	105,349

CEDAR FAIR, L.P.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2017

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Co-Issuer Subsidiary (Millennium)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	93,378		$	(10,710	)	$	40,569		$	48,979		$	160,801		$	(1,838	)	$	331,179
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			—			—			(278,051		)	278,051			—
Proceeds from returns on investments	338,000			15,500			—			—			146,500			(500,000		)	—
Proceeds from sale of investment	—			3,281			—			—			—			—			3,281
Capital expenditures	—			(25		)	(10,160		)	(149,514		)	(28,451		)	—			(188,150		)
Net cash from (for) investing activities	338,000			18,756			(10,160		)	(149,514		)	(160,002		)	(221,949		)	(184,869		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Intercompany payables (payments) receipts	69,160			208,891			—			—			—			(278,051		)	—
Payments for returns of capital	—			—			—			(500,000		)	—			500,000			—
Term debt borrowings	—			131,000			—			619,000			—			—			750,000
Note borrowings	—			—			—			500,000			—			—			500,000
Term debt payments	—			(126,619		)	(13,854		)	(477,377		)	—			—			(617,850		)
Note payments, including amounts paid for early termination	(304,014		)	(211,444		)	—			—			—			—			(515,458		)
Distributions paid to partners	(196,524		)	—			—			—			—			1,768			(194,756		)
Payment of debt issuance costs and original issue discount	—			(1,326		)	—			(18,483		)	—			—			(19,809		)
Exercise of limited partnership unit options	—			65			—			—			—			—			65
Tax effect of units involved in treasury unit transactions	—			(4,440		)	—			—			—			—			(4,440		)
Payments related to tax withholding for equity compensation	—			(4,173		)	—			—			—			—			(4,173		)
Net cash from (for) financing activities	(431,378		)	(8,046		)	(13,854		)	123,140			—			223,717			(106,421		)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			3,640			—			—			—			3,640
CASH AND CASH EQUIVALENTS
Net increase for the year	—			—			20,195			22,605			799			(70		)	43,529
Balance, beginning of year	—			—			65,563			57,825			353			(1,025		)	122,716
Balance, end of year	$	—		$	—		$	85,758		$	80,430		$	1,152		$	(1,095	)	$	166,245