XML 20 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities    
Net income $ 135,550 $ 811,523
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 175,801 205,688
Amortization of items charged to interest expense and interest income 4,608 5,333
Change in fair value of contingent purchase price 1,743 (16,794)
Loss on sale of property and equipment 3,223 103
Income from unconsolidated affiliates (16,791) (14,350)
Distributions from unconsolidated affiliates 21,550 21,200
Deferred income taxes 7,879 (762,788)
Charge for stock-based compensation 8,847 5,827
Provision (recovery) for loan loss and unfunded loan commitments to the JIVDC and impairment losses (16,367) 29,952
Reclassification of AOCI to earnings upon termination of the Casino Rama management contract 1,453  
Write off of debt issuance costs and discounts 3,772 5,377
Loss on early extinguishment and modification of debt   18,012
Decrease (increase), net of businesses acquired    
Accounts receivable 11,193 2,334
Prepaid expenses and other current assets (2,239) (6,632)
Other assets (7,901) 1,316
(Decrease) increase, net of businesses acquired    
Accounts payable (5,101) (1,753)
Accrued expenses (9,760) 7,270
Accrued interest (7,740) (489)
Accrued salaries and wages (20,057) (1,311)
Gaming, pari-mutuel, property and other taxes 1,018 11,433
Income taxes 5,628 6,818
Other current and noncurrent liabilities 4,715 27,272
Net cash provided by operating activities 301,024 355,341
Investing activities    
Project capital expenditures (2,148) (23,611)
Maintenance capital expenditures (54,813) (46,631)
Insurance remediation proceeds   577
Loans to the JIVDC (338) (739)
Receipts applied against nonaccrual loan to JIVDC 512 5,472
Proceeds from the sale of loan to the JIVDC 15,186  
Proceeds from sale of property and equipment 255 762
Additional contributions from/(to) joint ventures 18,892 (250)
Consideration paid for acquisitions of businesses, gaming licenses, and other intangibles, net of cash acquired (61,647) (128,032)
Net cash used in investing activities (84,101) (192,452)
Financing activities    
Proceeds from exercise of options 7,402 7,230
Repurchase of common stock   (24,796)
Principal payments on financing obligation with GLPI (48,338) (43,421)
Proceeds from issuance of long-term debt, net of issuance costs   1,174,362
Proceeds from revolving credit facility draws 89,000 244,435
Increase to financing obligation in connection with acquisition   82,600
Repayments on long-term debt (190,861) (1,097,055)
Prepayment penalties and modification payments incurred with debt refinancing   (18,012)
Repayments on revolving credit facility (89,000) (395,435)
Payments of other long-term obligations (14,786) (35,227)
Payments of contingent purchase price (4,188) (19,537)
Proceeds from insurance financing 8,541 8,768
Payments on insurance financing (8,098) (11,404)
Net cash used in financing activities (250,328) (127,492)
Net (decrease) increase in cash and cash equivalents (33,405) 35,397
Cash and cash equivalents at beginning of year 277,953 229,510
Cash and cash equivalents at end of year 244,548 264,907
Supplemental disclosure    
Interest expense paid, net of amounts capitalized 350,159 345,460
Income tax paid (refunds received) 23,788 (21,452)
Non-cash investing and financing activities    
Accrued capital expenditures $ 4,850 2,493
Accrued advances to Jamul Tribe   $ 1,329