XML 26 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating activities    
Net income $ 4,537 $ 65,271
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,366 77,071
Amortization of items charged to interest expense 1,507 2,149
(Gain) loss on sale of fixed assets (49) 2,390
Income from unconsolidated affiliates (2,483) (1,721)
Distributions of earnings from unconsolidated affiliates 5,500 5,000
Deferred income taxes 1,803 8,174
Charge for stock-based compensation 2,579 6,251
(Increase) decrease, net of businesses acquired    
Accounts receivable (599) (3,807)
Prepaid expenses and other current assets (12,739) (12,989)
Other assets (1,854) (11,544)
Increase (decrease), net of businesses acquired    
Accounts payable 2,186 3,922
Accrued expenses (11,384) (30,503)
Accrued interest 2,484 (6,990)
Accrued salaries and wages (15,590) (18,096)
Gaming, pari-mutuel, property and other taxes 2,768 5,703
Income taxes (7,582) 34,867
Other current and noncurrent liabilities 669 6,669
Other noncurrent tax liabilities 4,489 1,971
Net cash provided by operating activities 23,608 133,788
Investing activities    
Capital project expenditures, net of reimbursements (12,957) (40,849)
Capital maintenance expenditures (24,084) (21,854)
Proceeds from sale of property and equipment 129 2,517
Investment in joint ventures   (500)
Decrease in cash in escrow 18,000 26,000
Acquisition of gaming licenses (25,586) (1,125)
Net cash used in investing activities (44,498) (35,811)
Financing activities    
Proceeds from exercise of options 5,581 15,461
Repurchase of preferred stock   (22,275)
Proceeds from issuance of long-term debt, net of issuance costs (327) 19,954
Principal payments on long-term debt (6,898) (136,949)
Proceeds from insurance financing 14,335 15,306
Payments on insurance financing (4,853) (5,706)
Tax benefit from stock options exercised 7,752 3,467
Net cash provided by (used in) financing activities 15,590 (110,742)
Net decrease in cash and cash equivalents (5,300) (12,765)
Cash and cash equivalents at beginning of year 292,995 260,467
Cash and cash equivalents at end of period 287,695 247,702
Supplemental disclosure    
Interest expense paid, net of amounts capitalized 7,278 32,673
Income taxes paid $ 352 $ 1,124