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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 148,430 $ 578,134
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 973,211 865,502
Amortization of debt discounts, premiums and issuance costs 29,539 30,713
Loss on retirement of long-term debt 55,932 2,193
Provision for doubtful accounts 30,456 32,651
Stock-based compensation 64,518 51,010
Property transactions, net 264,424 (19,532)
Income from unconsolidated affiliates (47,656) (80,219)
Distributions from unconsolidated affiliates 0 11,563
Deferred income taxes 52,785 (58,762)
Change in operating assets and liabilities:    
Accounts receivable (655,786) (31,791)
Inventories 7,734 (1,457)
Income taxes receivable and payable, net 4,555 22,997
Prepaid expenses and other (23,105) (41,532)
Accounts payable and accrued liabilities 479,272 50,550
Other (28,201) (16,554)
Net cash provided by operating activities 1,356,108 1,395,466
Cash flows from investing activities    
Capital expenditures, net of construction payable (482,786) (1,223,924)
Dispositions of property and equipment 1,936 575
Proceeds from sale of business units and investment in unconsolidated affiliate 0 163,616
Investments in unconsolidated affiliates (81,271) (2,503)
Distributions from unconsolidated affiliates 99,661 320,287
Other (31,112) (22,209)
Net cash used in investing activities (1,029,253) (1,798,692)
Cash flows from financing activities    
Net borrowings (repayments) under bank credit facilities – maturities of 90 days or less (1,711,007) 778,101
Issuance of long-term debt 3,250,000 1,000,000
Retirement of senior notes and senior debentures (1,759,978) (2,265)
Debt issuance costs (63,391) (64,808)
Issuance of MGM Growth Properties Class A shares, net 699,362 0
Dividends paid to common shareholders (205,163) (197,295)
Distributions to noncontrolling interest owners (172,239) (149,526)
Purchases of common stock (638,815) (1,133,334)
Other (18,655) (23,476)
Net cash provided by (used in) financing activities (619,886) 207,397
Effect of exchange rate on cash (162) (1,489)
Cash and cash equivalents    
Net decrease for the period (293,193) (197,318)
Balance, beginning of period 1,526,762 1,499,995
Balance, end of period 1,233,569 1,302,677
Supplemental cash flow disclosures    
Interest paid, net of amounts capitalized 597,785 516,868
Federal, state and foreign income taxes paid (received), net of refunds 18,222 (8,220)
Northfield [Member]    
Cash flows from investing activities    
Acquisition, net of cash acquired 0 (1,034,534)
Empire City [Member]    
Cash flows from investing activities    
Acquisition, net of cash acquired $ (535,681) $ 0