XML 19 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net loss $ (245,634) $ (261,968)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 574,176 617,496
Amortization of debt discounts, premiums and issuance costs 19,938 15,903
Loss on early retirement of debt 37 126,664
Provision for credit losses 3,724 61,859
Stock-based compensation 27,407 55,733
Property transactions, net (2,835) 81,324
Gain on REIT transaction, net 0 (1,491,945)
Noncash lease expense 88,029 96,664
Other investment gains (86,183) 0
Loss (income) from unconsolidated affiliates (13,707) 28,987
Distributions from unconsolidated affiliates 49,625 38,238
Deferred income taxes (68,821) 129,301
Change in operating assets and liabilities:    
Accounts receivable (138,153) 248,109
Inventories 9,267 (3,784)
Income taxes receivable and payable, net 17,222 (139,343)
Prepaid expenses and other (11,835) (23,492)
Accounts payable and accrued liabilities 187,500 (641,370)
Other (41,341) (23,878)
Net cash provided by (used in) operating activities 368,416 (1,085,502)
Cash flows from investing activities    
Capital expenditures, net of construction payable (183,392) (140,208)
Dispositions of property and equipment 9,370 192
Proceeds from Mandalay Bay and MGM Grand Las Vegas transaction 0 2,455,839
Investments in unconsolidated affiliates (101,845) (38,344)
Distributions from unconsolidated affiliates 803 63,251
Other 1,342 385
Net cash provided by (used in) investing activities (273,722) 2,341,115
Cash flows from financing activities    
Net repayments under bank credit facilities – maturities of 90 days or less (551,600) (1,141,500)
Issuance of long-term debt 749,775 2,050,000
Retirement of senior notes 0 (846,797)
Debt issuance costs (11,346) (40,208)
Proceeds from issuance of bridge loan facility 0 1,304,625
Dividends paid to common shareholders (2,457) (75,137)
Distributions to noncontrolling interest owners (155,576) (154,648)
Purchases of common stock (339,661) (353,720)
Other (51,718) (19,496)
Net cash provided by financing activities 429,986 1,247,823
Effect of exchange rate on cash (85) 2,465
Cash and cash equivalents    
Net increase for the period 524,595 2,505,901
Balance, beginning of period 5,101,637 2,329,604
Balance, end of period 5,626,232 4,835,505
Supplemental cash flow disclosures    
Interest paid, net of amounts capitalized 347,551 289,419
Federal, state and foreign income taxes paid, net 1,898 1,867
Non-cash investing and financing activities    
Investment in MGP BREIT Venture 0 802,000
MGP BREIT Venture assumption of bridge loan facility 0 1,304,625
MGM Growth Properties LLC [Member]    
Cash flows from financing activities    
Issuance of MGM Growth Properties Class A shares, net $ 792,569 $ 524,704