XML 21 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Combined and Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income (loss) $ 134,267 $ (15,654)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 190,573 158,860
Property transactions, net 19,104 2,651
Amortization and write-off of deferred financing costs and debt discount 9,241 4,392
Amortization related to above market lease, net 515 114
Provision for income taxes 3,903 915
Amortization of deferred revenue (1,510) 0
Straight-line rental revenues 3,820 (1,062)
Share-based compensation 943 326
Changes in operating assets and liabilities:    
Tenant and other receivables, net 3,399 (5,654)
Prepaid expenses and other assets (4,214) 4,738
Due to MGM Resorts International and affiliates 358 211
Accounts payable, accrued expenses and other liabilities 2,200 2,868
Accrued interest 1,256 29,716
Net cash provided by operating activities 363,855 182,421
Cash flows from investing activities    
Capital expenditures for property and equipment funded by Parent 0 (138,987)
Net cash used in investing activities 0 (138,987)
Cash flows from financing activities    
Proceeds from issuance of debt 350,000 3,700,000
Deferred financing costs (5,381) (76,120)
Repayment of bridge facilities 0 (4,544,850)
Repayment of debt principal (33,500) (16,750)
Proceeds from purchase of Operating Partnership units by MGP 387,548 1,132,468
Issuance of Class A shares 404,685 1,207,500
Class A share issuance costs (17,137) (75,032)
Dividends and distributions paid (284,213) (56,720)
Net cash transfers from Parent 0 158,822
Net cash provided by financing activities 414,454 296,850
Cash and cash equivalents    
Net increase for the period 778,309 340,284
Balance, beginning of period 360,492 0
Balance, end of period 1,138,801 340,284
Supplemental cash flow disclosures    
Interest paid 125,077 38,206
Non-cash investing and financing activities    
Non-Normal Tenant Improvements by Tenant 42,303 51,092
Accrual of dividend and distribution payable to Class A shareholders and Operating Partnership unit holders 101,222 94,109
Borgata Transaction net assets acquired 0 1,273,662
MGP Operating Partnership    
Cash flows from operating activities    
Net income (loss) 134,267 (15,654)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation 190,573 158,860
Property transactions, net 19,104 2,651
Amortization and write-off of deferred financing costs and debt discount 9,241 4,392
Amortization related to above market lease, net 515 114
Provision for income taxes 3,903 915
Amortization of deferred revenue (1,510) 0
Straight-line rental revenues 3,820 (1,062)
Share-based compensation 943 326
Changes in operating assets and liabilities:    
Tenant and other receivables, net 3,399 (5,654)
Prepaid expenses and other assets (4,214) 4,738
Due to MGM Resorts International and affiliates 358 211
Accounts payable, accrued expenses and other liabilities 2,200 2,868
Accrued interest 1,256 29,716
Net cash provided by operating activities 363,855 182,421
Cash flows from investing activities    
Capital expenditures for property and equipment funded by Parent 0 (138,987)
Net cash used in investing activities 0 (138,987)
Cash flows from financing activities    
Proceeds from issuance of debt 350,000 3,700,000
Deferred financing costs (5,381) (76,120)
Repayment of bridge facilities 0 (4,544,850)
Repayment of debt principal (33,500) (16,750)
Proceeds from purchase of Operating Partnership units by MGP 387,548 1,132,468
Dividends and distributions paid (284,213) (56,720)
Net cash transfers from Parent 0 158,822
Net cash provided by financing activities 414,454 296,850
Cash and cash equivalents    
Net increase for the period 778,309 340,284
Balance, beginning of period 360,492 0
Balance, end of period 1,138,801 340,284
Supplemental cash flow disclosures    
Interest paid 125,077 38,206
Non-cash investing and financing activities    
Non-Normal Tenant Improvements by Tenant 42,303 51,092
Accrual of dividend and distribution payable to Class A shareholders and Operating Partnership unit holders 101,222 94,109
Borgata Transaction net assets acquired $ 0 $ 1,273,662