XML 40 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Operating activities      
Net (loss) income $ (794,339) $ 211,971 $ 242,351
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 298,326 245,348 211,476
Amortization of items charged to interest expense and interest income 8,112 6,898 9,601
Changes in settlement values on long term obligations 5,024    
Loss (gain) on sale of fixed assets 3,652 (1,690) 340
Income from unconsolidated affiliates (9,657) (3,804) (7,364)
Distributions of earnings from unconsolidated affiliates 21,500 9,400  
Loss on early extinguishment of debt 26,782   12,212
Deferred income taxes (224,983) 44,983 21,560
Charge for stock-based compensation 22,809 28,609 24,330
Impairment losses 1,132,417    
Gain on investment in corporate debt securities (1,516)    
Gain on sale of Bullwhackers (444)    
Decrease (increase), net of businesses acquired      
Accounts receivable 5,034 1,887 (6,064)
Insurance receivable   1,072 (1,073)
Prepaid expenses and other current assets 912 14,445 (4,648)
Other assets (42,567) (12,331) (2,556)
(Decrease) increase, net of businesses acquired      
Accounts payable (2,175) 1,334 397
Accrued expenses (30,147) 12,770 8,382
Accrued interest (15,030) 3,925 (4,038)
Accrued salaries and wages (2,383) 10,285 8,961
Gaming, pari-mutuel, property and other taxes (1,555) 6,051 2,047
Income taxes 29,058 (70,721) 49,285
Other current and noncurrent liabilities 10,576 12,903 2,849
Other noncurrent tax liabilities 1,396 (16,146) (683)
Net cash provided by operating activities 440,802 507,189 567,365
Investing activities      
Capital project expenditures, net of reimbursements (119,051) (386,344) (216,049)
Capital maintenance expenditures (80,862) (86,641) (77,032)
Proceeds from sale of property and equipment 3,837 5,323 12,966
Proceeds from investment in corporate debt securities 6,870    
Proceeds related to damaged property and equipment 2,203   3,862
Proceeds from sale of Bullwhackers, net of cash on hand 4,996    
Investment in joint ventures, net of proceeds received (675) (36,000) (100,398)
Cash contributed to GLPI in connection with Spin-Off (240,202)    
Decrease in cash in escrow 8,000 24,625 28,975
Acquisitions of businesses and licenses, net of cash acquired (73) (709,450) 8,874
Net cash used in investing activities (414,957) (1,188,487) (338,802)
Financing activities      
Proceeds from exercise of options 51,535 31,933 16,719
Repurchase of common stock     (105,206)
Repurchase of preferred stock (649,518)    
Proceeds from issuance of long-term debt, net of issuance costs 4,745,790 1,162,709 1,773,232
Principal payments on long-term debt (4,135,059) (494,891) (1,928,571)
Proceeds from other long-term obligations   10,000  
Payments of other long-term obligations (16,000)    
Proceeds from insurance financing 19,233 4,746 17,406
Payments on insurance financing (20,069) (17,253) (12,645)
Tax benefit from stock options exercised 10,771 6,081 2,557
Net cash provided by (used in) financing activities 6,683 703,325 (236,508)
Net increase (decrease) in cash and cash equivalents 32,528 22,027 (7,945)
Cash and cash equivalents at beginning of year 260,467 238,440 246,385
Cash and cash equivalents at end of year 292,995 260,467 238,440
Supplemental disclosure      
Interest expense paid, net of amounts capitalized 104,351 70,239 93,140
Income taxes paid $ 69,758 $ 187,515 $ 90,702