XML 24 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 142,326 $ 406,724
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 651,202 565,030
Amortization of debt discounts, premiums and issuance costs 19,735 19,956
Loss on retirement of long-term debt 53,211 2,636
Provision for doubtful accounts 17,328 17,324
Stock-based compensation 49,198 33,911
Property transactions, net 14,566 22,868
Income from unconsolidated affiliates (26,111) (56,307)
Distributions from unconsolidated affiliates 0 9,650
Deferred income taxes 68,613 (70,986)
Change in operating assets and liabilities:    
Accounts receivable 80,080 26,157
Inventories 5,113 (6,928)
Income taxes receivable and payable, net 7,436 19,428
Prepaid expenses and other 21,682 8,855
Accounts payable and accrued liabilities (119,205) 116,060
Other (17,341) (21,227)
Net cash provided by operating activities 967,833 1,093,151
Cash flows from investing activities    
Capital expenditures, net of construction payable (321,618) (861,761)
Dispositions of property and equipment 573 440
Investments in unconsolidated affiliates (80,669) (2,503)
Distributions from unconsolidated affiliates 90,000 200,000
Other (30,170) (15,609)
Net cash used in investing activities (877,565) (679,433)
Cash flows from financing activities    
Net repayments under bank credit facilities – maturities of 90 days or less (1,979,956) (360,874)
Issuance of long-term debt 3,250,000 1,000,000
Retirement of senior notes and senior debentures (1,759,926) (2,265)
Debt issuance costs (45,546) (64,777)
Issuance of MGM Growth Properties Class A shares, net 613,299 0
Dividends paid to common shareholders (138,215) (133,334)
Distributions to noncontrolling interest owners (102,418) (101,407)
Purchases of common stock (281,833) (957,264)
Other (13,184) (18,230)
Net cash used in financing activities (457,779) (638,151)
Effect of exchange rate on cash 1,340 (2,690)
Cash and cash equivalents    
Net decrease for the period (366,171) (227,123)
Balance, beginning of period 1,526,762 1,499,995
Balance, end of period 1,160,591 1,272,872
Supplemental cash flow disclosures    
Interest paid, net of amounts capitalized 415,196 324,779
Federal, state and foreign income taxes paid (received), net of refunds 7,069 (10,667)
Empire City [Member]    
Cash flows from investing activities    
Acquisition, net of cash acquired $ (535,681) $ 0