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VICI PROPERTIES L.P. CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 242,688 $ 272,099
Adjustments to reconcile net income to cash flows provided by operating activities:    
Non-cash leasing and financing adjustments (35,564) (28,134)
Stock-based compensation 2,630 2,277
Depreciation 776 792
Amortization of debt issuance costs and original issue discount 15,977 6,691
Change in allowance for credit losses 80,820 (4,380)
Change in operating assets and liabilities:    
Other assets (2,057) (1,539)
Accrued expenses and deferred revenue (7,170) (92,513)
Other liabilities 73 433
Net cash provided by operating activities 298,173 155,726
Cash flows from investing activities    
Investments in leases - sales-type (4,012,096) 0
Investments in leases - financing receivables 0 (6,000)
Investments in loans (15,559) 0
Principal repayments of lease financing receivables 0 282
Principal repayments of loans and receipts of deferred fees 0 20,000
Capitalized transaction costs (136) (599)
Maturities of short-term investments 0 19,973
Acquisition of property and equipment (454) (1,247)
Net cash (used in) provided by investing activities (4,028,245) 32,409
Cash flows from financing activities    
Proceeds from offering of common stock, net 3,219,123 0
Proceeds from lines of credit 600,000 0
Debt issuance costs (27,285) 0
Distributions to non-controlling interest (2,103) (2,071)
Net cash provided by (used in) financing activities 3,559,160 (181,598)
Net (decrease) increase in cash, cash equivalents and restricted cash (170,912) 6,537
Cash, cash equivalents and restricted cash, beginning of period 739,614 315,993
Cash, cash equivalents and restricted cash, end of period 568,702 322,530
Supplemental cash flow information:    
Cash paid for interest 48,921 69,704
Cash paid for income taxes 2 0
Supplemental non-cash investing and financing activity:    
Distributions payable 269,429 177,217
Debt issuance costs payable 465 17,341
Deferred transaction costs payable 2,219 3,595
Non-cash change in Investments in leases - financing receivables 6,696 4,673
Lease liabilities arising from obtaining right-of-use assets 208,949 0
VICI Properties LP    
Cash flows from operating activities    
Net income 240,652 270,891
Adjustments to reconcile net income to cash flows provided by operating activities:    
Non-cash leasing and financing adjustments (35,564) (28,134)
Stock-based compensation 2,602 2,252
Depreciation 30 32
Amortization of debt issuance costs and original issue discount 15,977 6,692
Change in allowance for credit losses 80,820 (4,380)
Change in operating assets and liabilities:    
Other assets (1,513) (1,095)
Accrued expenses and deferred revenue (9,790) (89,781)
Other liabilities 4 (127)
Net cash provided by operating activities 293,218 156,350
Cash flows from investing activities    
Investments in leases - sales-type (4,012,096) 0
Investments in leases - financing receivables 0 (6,000)
Investments in loans (15,559) 0
Principal repayments of lease financing receivables 0 282
Principal repayments of loans and receipts of deferred fees 0 20,000
Capitalized transaction costs (136) (599)
Maturities of short-term investments 0 19,973
Acquisition of property and equipment 0 (13)
Net cash (used in) provided by investing activities (4,027,791) 33,643
Cash flows from financing activities    
Proceeds from lines of credit 600,000 0
Contributions from Parent 3,219,202 0
Distribution to Parent (227,000) (177,000)
Debt issuance costs (27,285) 0
Distributions to non-controlling interest (2,103) (2,071)
Net cash provided by (used in) financing activities 3,562,814 (179,071)
Net (decrease) increase in cash, cash equivalents and restricted cash (171,759) 10,922
Cash, cash equivalents and restricted cash, beginning of period 705,566 286,245
Cash, cash equivalents and restricted cash, end of period 533,807 297,167
Supplemental cash flow information:    
Cash paid for interest 48,921 69,704
Cash paid for income taxes 2 0
Supplemental non-cash investing and financing activity:    
Distributions payable 269,276 177,089
Debt issuance costs payable 465 17,341
Deferred transaction costs payable 2,219 3,595
Non-cash change in Investments in leases - financing receivables 6,696 4,673
Lease liabilities arising from obtaining right-of-use assets $ 208,949 $ 0