XML 15 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities:    
Net income $ 32,620 $ 26,346
Amounts to reconcile net income to net cash flows provided by operating activities:    
Benefit for deferred income taxes (187) (1,461)
Depreciation and amortization 27,637 28,773
Amortization of deferred financing costs 1,263 1,216
Stock-based compensation expense 1,569 1,549
Changes in:    
Trade receivables (19,016) (6,274)
Accounts payable and accrued liabilities (8,261) (668)
Other assets and liabilities 2,696 3,792
Net cash flows provided by operating activities 38,321 53,273
Cash Flows from Investing Activities:    
Purchases of property and equipment (37,710) (13,240)
Investment in Gaylord Rockies joint venture (16,309) (21,523)
Proceeds from sale of Peterson LOI   6,785
(Increase) decrease in restricted cash and cash equivalents 2,858 (7,603)
Other investing activities (2,691) (1,575)
Net cash flows used in investing activities (53,852) (37,156)
Cash Flows from Financing Activities:    
Net borrowings under credit facility 33,000 54,000
Repayment of note payable related to purchase of AC Hotel   (6,000)
Repurchase of Company stock for retirement   (24,811)
Payment of dividends (38,900) (36,433)
Payment of tax withholdings for share-based compensation (3,741) (2,921)
Other financing activities 23 907
Net cash flows used in financing activities (9,618) (15,258)
Net change in cash and cash equivalents (25,149) 859
Cash and cash equivalents - unrestricted, beginning of period 59,128 56,291
Cash and cash equivalents - unrestricted, end of period $ 33,979 $ 57,150