XML 28 R12.htm IDEA: XBRL DOCUMENT v3.22.2
VICI PROPERTIES L.P. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 184,547 $ 575,176
Adjustments to reconcile net income to cash flows provided by operating activities:    
Non-cash leasing and financing adjustments (121,969) (58,289)
Stock-based compensation 5,866 4,672
Depreciation 1,555 1,549
Amortization of debt issuance costs and original issue discount 23,809 16,625
Change in allowance for credit losses 632,696 (33,484)
Income from unconsolidated affiliate (15,134) 0
Distributions from unconsolidated affiliate 16,182 0
Net proceeds from settlement of derivatives 201,433 0
Change in operating assets and liabilities:    
Other assets (5,287) (7,675)
Accrued expenses and deferred revenue 18,767 (93,816)
Other liabilities (147) 5,712
Net cash provided by operating activities 951,134 410,470
Cash flows from investing activities    
Net cash paid in connection with MGP Transactions (4,574,436) 0
Investments in leases - sales-type (4,012,828) 0
Investments in leases - financing receivables 0 (6,000)
Investments in loans (47,361) 0
Principal repayments of lease financing receivables 0 1,091
Principal repayments of loans and receipts of deferred fees 50 30,448
Capitalized transaction costs (7,095) (1,884)
Maturities of short-term investments 0 19,973
Acquisition of property and equipment (686) (1,523)
Net cash (used in) provided by investing activities (8,642,356) 42,105
Cash flows from financing activities    
Proceeds from April 2022 Notes offering 5,000,000 0
Proceeds from Revolving Credit Facility 600,000 0
Repayment of Revolving Credit Facility (600,000) 0
Debt issuance costs (146,021) 0
Distributions to non-controlling interests (4,165) (4,143)
Net cash provided by (used in) financing activities 7,565,609 (361,046)
Net (decrease) increase in cash, cash equivalents and restricted cash (125,613) 91,529
Cash, cash equivalents and restricted cash, beginning of period 739,614 315,993
Cash, cash equivalents and restricted cash, end of period 614,001 407,522
Supplemental cash flow information:    
Cash paid for interest 152,794 140,738
Cash paid for income taxes 2,086 1,790
Supplemental non-cash investing and financing activity:    
Debt issuance costs payable 13 17,341
Deferred transaction costs payable 4,445 6,816
Non-cash change in Investments in leases - financing receivables 53,046 10,050
Lease liabilities arising from obtaining right-of-use assets 541,676 0
VICI Properties LP    
Cash flows from operating activities    
Net income 179,504 572,148
Adjustments to reconcile net income to cash flows provided by operating activities:    
Non-cash leasing and financing adjustments (121,969) (58,289)
Stock-based compensation 5,810 4,618
Depreciation 60 63
Amortization of debt issuance costs and original issue discount 23,809 16,625
Change in allowance for credit losses 632,696 (33,484)
Income from unconsolidated affiliate (15,134) 0
Distributions from unconsolidated affiliate 16,182 0
Net proceeds from settlement of derivatives 201,433 0
Change in operating assets and liabilities:    
Other assets (2,063) (7,447)
Accrued expenses and deferred revenue 18,564 (87,273)
Other liabilities (165) 238
Net cash provided by operating activities 938,727 407,199
Cash flows from investing activities    
Net cash paid in connection with MGP Transactions (4,574,436) 0
Investments in leases - sales-type (4,012,828) 0
Investments in leases - financing receivables 0 (6,000)
Investments in loans (47,361) 0
Principal repayments of lease financing receivables 0 1,091
Principal repayments of loans and receipts of deferred fees 50 30,448
Capitalized transaction costs (7,095) (1,884)
Maturities of short-term investments 0 19,973
Acquisition of property and equipment (30) (15)
Net cash (used in) provided by investing activities (8,641,700) 43,613
Cash flows from financing activities    
Contributions from Parent 3,219,202 0
Distributions to Parent (625,000) (354,000)
Proceeds from April 2022 Notes offering 5,000,000 0
Proceeds from Revolving Credit Facility 600,000 0
Repayment of Revolving Credit Facility (600,000) 0
Debt issuance costs (146,021) 0
Distributions to non-controlling interests (4,165) (4,143)
Net cash provided by (used in) financing activities 7,444,016 (358,143)
Net (decrease) increase in cash, cash equivalents and restricted cash (258,957) 92,669
Cash, cash equivalents and restricted cash, beginning of period 705,566 286,245
Cash, cash equivalents and restricted cash, end of period 446,609 378,914
Supplemental cash flow information:    
Cash paid for interest 152,794 140,738
Cash paid for income taxes 776 1,396
Supplemental non-cash investing and financing activity:    
Distributions payable 244,306 177,223
Debt issuance costs payable 13 17,341
Deferred transaction costs payable 4,445 6,816
Non-cash change in Investments in leases - financing receivables 53,046 10,050
Lease liabilities arising from obtaining right-of-use assets $ 541,676 $ 0