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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities:    
Net income $ 138,889 $ 147,501
Amounts to reconcile net income to net cash flows provided by operating activities:    
Provision for deferred income taxes 9,470 10,664
Depreciation and amortization 130,680 115,755
Amortization of deferred financing costs 5,607 5,348
(Income) loss from unconsolidated joint ventures 29 (215)
Equity-based compensation expense 7,117 7,245
Changes in:    
Trade receivables (21,048) (17,253)
Accounts payable and accrued liabilities (65,351) (75,006)
Other assets and liabilities 15,326 (2,245)
Net cash flows provided by operating activities 220,719 191,794
Cash Flows from Investing Activities:    
Purchases of property and equipment (182,238) (184,936)
Other investing activities, net (18,609) 37
Net cash flows used in investing activities (1,062,805) (184,899)
Cash Flows from Financing Activities:    
Issuance of senior notes 625,000 1,000,000
Deferred financing costs paid (12,572) (23,062)
Issuance of common stock, net 275,532  
Payment of distributions (139,721) (133,430)
Payment of tax withholdings for share-based compensation (5,472) (12,106)
Other financing activities, net (1,070) (39)
Net cash flows provided by (used in) financing activities 716,563 (157,057)
Net change in cash, cash equivalents, and restricted cash (125,523) (150,162)
Cash, cash equivalents, and restricted cash, beginning of period 576,228 700,441
Cash, cash equivalents, and restricted cash, end of period 450,705 550,279
JW Marriott Desert Ridge [Member]    
Cash Flows from Investing Activities:    
Purchase of business, net of cash acquired (861,958)  
$80M OEG Revolver [Member]    
Cash Flows from Financing Activities:    
Borrowings under revolving credit facility 5,000 39,000
Repayments under revolving credit facility (26,000) (27,000)
OEG Term Loan [Member]    
Cash Flows from Financing Activities:    
Borrowings under term loan 128,128 299,250
Repayments under term loan (1,827) (296,250)
$500 Million Term Loan B [Member]    
Cash Flows from Financing Activities:    
Borrowings under term loan   18,861
Repayments under term loan (1,468) (220,849)
Block 21 CMBS Loan [Member]    
Cash Flows from Financing Activities:    
Repayments under loan $ (128,967) (1,432)
$800M Gaylord Rockies Term Loan [Member]    
Cash Flows from Financing Activities:    
Repayments under term loan   $ (800,000)