v2.3.0.15
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities  
Net income (loss)$ (4,973)$ 36,574
Adjustments to reconcile net income (loss) to net cash provided by operating activities:  
Depreciation and amortization145,106147,905
Amortization of debt financing costs6,6736,149
Amortization of discounts on senior secured notes2,507484
Share-based compensation expense7,7408,124
Deferred income taxes(3,074)14,814
Operating and non-operating income from Borgata0(5,013)
Distributions of earnings received from Borgata01,910
Gain on equity distributions0(2,535)
Noncash asset write-downs6,0520
Gain on early retirements of debt(34)(3,949)
Other operating activities2,5751,983
Changes in operating assets and liabilities:  
Restricted cash(3,198)(4,734)
Accounts receivable, net(4,375)1,382
Inventories1,710439
Prepaid expenses and other current assets(5,997)(7,250)
Income taxes receivable5,2649,961
Other assets, net430236
Accounts payable and accrued liabilities28,77030,697
Income taxes payable(3,382)0
Other long-term tax liabilities2,0691,519
Other liabilities(947)2,265
Net cash provided by operating activities182,916240,961
Cash Flows from Investing Activities  
Capital expenditures(55,491)(64,069)
Acquisition of assets(34,495)0
Decrease in restricted investments27,1840
Net cash effect upon change in controlling interest of Borgata026,025
Other investing activities0(731)
Net cash used in investing activities(62,802)(38,775)
Cash Flows from Financing Activities  
Payments on retirements of long-term debt(8,198)(28,861)
Borrowings under bank credit facility109,650525,700
Payments under bank credit facility(111,503)(714,800)
Borrowings under Borgata bank credit facility574,700369,773
Payments under Borgata bank credit facility(620,600)(954,962)
Proceeds from issuance of Borgata senior secured notes0773,176
Debt financing costs, net(1,283)0
Payments under note payable0(46,875)
Payments on obligations of variable interest entity's members(27,000)0
Distributions to noncontrolling interests in Borgata0(120,176)
Other financing activities5,615(5,688)
Net cash used in financing activities(78,619)(202,713)
Increase in cash and cash equivalents41,495(527)
Cash and cash equivalents, beginning of period145,62393,202
Cash and cash equivalents, end of period187,11892,675
Supplemental Disclosure of Cash Flow Information  
Cash paid for interest220,97197,366
Cash paid (received) for income taxes, net1,221(9,143)
Supplemental Schedule of Noncash Investing and Financing Activities  
Payables incurred for capital expenditures4,8714,409
Fair value adjustment on derivative instruments11,93111,777
Extinguishment of previous Borgata credit facility with advance from new Borgata credit facility073,010
Assets and Liabilities Recorded at Fair Value (net of Cash Received) Due to Change in Controlling Interest of Borgata  
Accounts receivable, net029,099
Inventories04,118
Prepaid expenses and other current assets09,437
Deferred income taxes01,290
Property and equipment, net01,352,321
Investments in and advances to unconsolidated subsidiaries, net05,135
Intangibles00
Indefinite lived intangibles00
Other assets, net034,964
Fair value of assets01,436,364
Current maturities of long-term debt0632,289
Accounts payable06,822
Income taxes payable05,699
Accrued liabilities071,949
Deferred income taxes013,982
Other long-term tax liabilities010,242
Other long-term liabilities016,418
Fair value of liabilities$ 0$ 757,401