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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2017
Oct. 05, 2017
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities            
Net income $ 44,537   $ 554,281 $ 532,117    
Adjustments to reconcile net income to cash flows provided by operating activities:            
Direct financing and sales-type lease adjustments (8,443)   239 (45,404)    
Stock-based compensation 1,385   5,223 2,342    
Depreciation 751   3,831 3,686    
Amortization of debt issuance costs and original issue discount 156   33,034 5,976    
Loss on impairment 0   0 12,334    
Loss on extinguishment of debt 38,488   58,143 23,040    
Deferred income taxes (1,912)   0 (348)    
Change in operating assets and liabilities:            
Other assets (7,159)   (5,635) (22,945)    
Accrued interest 21,595   5,969 (7,411)    
Deferred revenue 68,081   26,735 (24,512)    
Other liabilities 10,449   339 25,207    
Net cash provided by operating activities 129,440   682,159 504,082    
Cash flows from investing activities            
Investments in direct financing and sales-type leases (1,136,200)   (1,812,404) (771,507)    
Capitalized transaction costs 0   (8,698) (6,780)    
Lease modification fee 0   0 159,000    
Investments in short-term investments 0   (440,353) (942,311)    
Maturities of short-term investments 0   901,756 421,434    
Proceeds from sale of land 0   1,044 186    
Acquisition of property and equipment (51)   (2,724) (899)    
Net cash used in investing activities (1,136,251)   (1,361,379) (1,140,877)    
Cash flows from financing activities            
Proceeds from offering of common stock 0   1,164,307 2,001,493    
Proceeds from private placement of common stock 963,782   0 0    
Proceeds from November 2019 Senior Unsecured Notes 0   2,250,000 0    
Debt issuance costs (31,501)   (56,055) (1,117)    
Proceeds from unrecognized sale of real estate 73,600   0 0    
Mandatory debt conversion costs (13)   0 0    
Distributions to non-controlling interests 0   (8,084) (9,800)    
Dividends paid 0   (503,958) (262,682)    
Net cash provided by financing activities 1,148,446   1,182,666 1,037,836    
Net increase in cash, cash equivalents and restricted cash 141,635   503,446 401,041    
Cash and cash equivalents, beginning of period 55,771   598,447 197,406    
Cash, cash equivalents and restricted cash, end of period 197,406 $ 55,771 1,101,893 598,447    
Supplemental cash flow information:            
Cash paid for interest 36,779   209,379 213,309    
Cash paid for income taxes 0   2,590 1,375    
Supplemental non-cash investing and financing activity:            
Dividends declared, not paid 0   137,149 116,503    
CPLV CMBS Debt prepayment penalty reimbursement receivable from Eldorado 0   55,401 0    
Lease liabilities arising from obtaining right-of-use assets 0   26,516 0    
Debt issuance costs payable 0   16,066 0    
Deferred transaction costs payable 0   1,314 742    
Transfer of investments in operating leases to land 0   0 22,189    
Transfer of investments in direct financing leases to investments in operating leases 0   0 10,967    
Revolving Credit Facility            
Cash flows from financing activities            
Payment of debt 0   0 (300,000)    
Proceeds from debt 298,000   0 0    
CPLV CMBS Debt            
Cash flows from financing activities            
Payment of debt 0   (1,663,544) 0    
CPLV CMBS Debt | Revolving Credit Facility            
Adjustments to reconcile net income to cash flows provided by operating activities:            
Loss on extinguishment of debt     58,100      
Term Loan B Facility            
Cash flows from financing activities            
Payment of debt 0   0 (100,000)    
Proceeds from debt 2,194,686   0 0    
Second Lien Notes            
Cash flows from financing activities            
Payment of debt 0   0 (290,058)    
Prior Term Loan            
Cash flows from financing activities            
Payment of debt (1,638,387)   0 0    
Prior First Lien Notes            
Cash flows from financing activities            
Payment of debt (311,721)   0 0    
Mezzanine Debt            
Cash flows from financing activities            
Payment of debt (400,000)   $ 0 $ 0    
Caesars Entertainment Outdoor            
Cash flows from operating activities            
Net income   (2)     $ 0 $ 3
Adjustments to reconcile net income to cash flows provided by operating activities:            
Depreciation   2,445     3,030 2,882
Net gain on asset sales   0     0 38
Deferred income taxes   (99)     (111) (101)
Provisions for (recoveries of) bad debt   12     (10) 31
Change in operating assets and liabilities:            
Receivables   (203)     116 (137)
Other assets   0     12 69
Inventories   (109)     71 (5)
Prepayments   192     (223) 6
Accounts payable   (49)     (39) 52
Accrued expenses   (58)     (125) 126
Net cash provided by operating activities   2,129     2,721 2,888
Cash flows from investing activities            
Proceeds from sale of assets   0     0 66
Acquisition of property and equipment   (1,924)     (869) (798)
Net cash used in investing activities   (1,924)     (869) (732)
Cash flows from financing activities            
Repayments for capital leases   (14)     (51) (45)
Transactions with parent, net   (1,000)     (1,232) (1,981)
Net cash provided by financing activities   (1,014)     (1,283) (2,026)
Net increase (decrease) in cash and cash equivalents   (809)     569 130
Cash and cash equivalents, beginning of period $ 111 920     351 221
Cash, cash equivalents and restricted cash, end of period   111     920 351
Supplemental cash flow information:            
Cash paid for interest   0     7 18
Supplemental non-cash investing and financing activity:            
Dividends declared, not paid   $ 1,000     $ 1,232 $ 1,981