XML 40 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 429.1 $ 417.3 $ 439.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 199.1 169.0 113.7
Equity in income of unconsolidated affiliates (144.9) (146.3) (152.7)
Distributions from unconsolidated affiliates 138.7 155.1 156.9
Stock-based compensation 36.1 32.9 31.8
Deferred income taxes 44.5 47.4 108.7
Asset impairments 3.9 24.6 38.3
Amortization of operating lease assets 5.6 6.2 5.3
Gain on sale of assets 0.0 (114.0) (274.6)
Other 9.7 5.4 7.4
Changes in operating assets and liabilities, net of businesses acquired and dispositions:      
Income taxes (4.5) (1.1) 28.2
Deferred revenue (12.1) 34.2 (12.7)
Other assets and liabilities 66.5 (25.4) 21.1
Net cash provided by operating activities 771.7 605.3 510.8
Cash flows from investing activities:      
Capital maintenance expenditures (83.6) (77.7) (50.2)
Capital project expenditures (463.4) (598.8) (373.3)
Acquisition of businesses, net of cash acquired 0.0 (241.3) (2,918.5)
Acquisition of gaming rights, net of cash acquired 0.0 0.0 (33.3)
Proceeds from sale of assets 0.0 195.7 279.0
Other 1.8 4.1 (7.4)
Net cash used in investing activities (545.2) (718.0) (3,103.7)
Cash flows from financing activities:      
Proceeds from borrowings under long-term debt obligations 965.5 1,771.1 2,862.4
Repayments of borrowings under long-term debt obligations (900.8) (1,536.0) (205.4)
Payment of dividends (29.2) (27.1) (26.0)
Repurchase of common stock (186.0) (55.9) (174.9)
Taxes paid related to net share settlement of stock awards (30.1) (25.5) (28.4)
Proceeds from pending equity transaction 0.0 14.4 0.0
Debt issuance costs (2.6) (13.0) (27.3)
Change in bank overdraft (10.9) 2.0 13.3
Other (2.5) (0.7) 2.3
Net cash (used in) provided by financing activities (196.6) 129.3 2,416.0
Cash flows from discontinued operations:      
Operating cash flows of discontinued operations 1.0 0.5 26.0
Net increase (decrease) in cash, cash equivalents and restricted cash 30.9 17.1 (150.9)
Cash, cash equivalents and restricted cash, beginning of year 221.8 204.7 355.6
Cash, cash equivalents and restricted cash, end of year 252.7 221.8 204.7
Supplemental disclosures of cash flow information:      
Interest 306.8 283.6 133.6
Cash paid for income taxes 108.2 99.1 68.6
Cash received from income tax refunds 5.2 0.9 61.6
Schedule of non-cash investing and financing activities:      
Dividends payable 31.0 29.3 27.0
Deferred payment on gaming rights incurred during the period 0.0 0.0 50.6
Deferred payments for acquisition of business included in other liabilities 1.2 4.9 0.0
Property and equipment additions included in accounts payable and accrued expense and other current liabilities $ 43.7 $ 95.1 $ 51.3