XML 19 R8.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating activities    
Net income $ 811,523 $ 104,278
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 205,688 200,105
Amortization of items charged to interest expense and interest income 5,333 5,523
Change in fair value of contingent purchase price (16,794) (1,111)
Loss (gain) on sale of property and equipment and assets held for sale 103 (3,440)
Income from unconsolidated affiliates (14,350) (11,662)
Distributions from unconsolidated affiliates 21,200 21,500
Deferred income taxes (762,788) 2,059
Charge for stock-based compensation 5,827 4,554
Impairment losses on Loans to the Jamul Tribe and Goodwill 29,952  
Write off of debt issuance costs and discounts 5,377  
Decrease (increase), net of businesses acquired    
Accounts receivable 2,334 5,305
Prepaid expenses and other current assets (6,632) (4,231)
Other assets 1,316 (1,157)
(Decrease) increase, net of businesses acquired    
Accounts payable (1,753) (8,492)
Accrued expenses 7,270 (2,489)
Accrued interest (489) 1,611
Accrued salaries and wages (1,311) (18,262)
Gaming, pari-mutuel, property and other taxes 11,433 5,499
Income taxes 6,818 31,221
Other current and noncurrent liabilities 27,272 (10,780)
Net cash provided by operating activities 337,329 320,031
Investing activities    
Project capital expenditures (23,611) (14,482)
Maintenance capital expenditures (46,631) (51,431)
Proceeds for insurance claim 577  
Loans to the Jamul Tribe (739) (167,863)
Principal and interest receipts applied against Loans to the Jamul Tribe 5,472  
Proceeds from sale of property and equipment and assets held for sale 762 13,212
Investment in joint ventures (250)  
Consideration paid for acquisitions of businesses and other property and equipment, net of cash acquired (128,032) (56,748)
Net cash used in investing activities (192,452) (277,312)
Financing activities    
Proceeds from exercise of options 7,230 5,654
Repurchase of common stock (24,796)  
Principal payments on financing obligation with GLPI (43,421) (37,920)
Proceeds from issuance of long-term debt, net of issuance costs 1,418,797 74,170
Increase to financing obligation in connection with acquisition 82,600  
Principal payments on long-term debt (1,492,490) (102,234)
Payments of other long-term obligations (35,227) (13,387)
Payments of contingent purchase price (19,537) (1,793)
Proceeds from insurance financing 8,768 9,614
Payments on insurance financing (11,404) (12,064)
Net cash used in financing activities (109,480) (77,960)
Net increase (decrease) in cash and cash equivalents 35,397 (35,241)
Cash and cash equivalents at beginning of year 229,510 237,009
Cash and cash equivalents at end of year 264,907 201,768
Supplemental disclosure    
Interest expense paid, net of amounts capitalized 345,460 339,211
Income tax refunds received (21,452) (11,720)
Non-cash investing and financing activities    
Accrued capital expenditures 2,493 4,846
Accrued advances to Jamul Tribe $ 1,329 $ 34,978