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CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:      
Net income (loss) $ (190,147) $ (166,519) $ 149,813
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization [1] 124,629 121,999 112,062
Impairment and other (gains) losses, net [1] (3,045) 0 105,817
Share-based compensation expense 77,141 70,584 61,425
Amortization of deferred financing costs 8,728 6,270 2,759
Loss in equity method investments 5,027 6,858 4,433
Provision for (benefit from) deferred income taxes (31,270) (71,357) 8,700
Net unrealized and realized (gain) loss on equity investments with readily determinable fair value 49,842 (51,178) (37,628)
Provision for credit losses 1,625 283 10,223
Gain on sale of the Forum, excluding associated settlement 0 0 (100,288)
Loss on extinguishment of debt 35,815 0 0
Other non-cash adjustments (175) 4,888 3,200
Change in assets and liabilities, net of acquisitions:      
Accounts receivable, net (30,749) (18,634) 17,974
Related party receivables, net of payables 14,778 8,593 (18,225)
Other current and non-current assets (43,982) (33,348) (28,945)
Accounts payable 6,624 (3,514) (6,234)
Accrued and other current and non-current liabilities 71,818 43,409 15,222
Deferred revenue 18,572 12,753 2,620
Operating lease right-of-use assets and lease liabilities 26,109 10,219 5,195
Net cash provided by (used in) operating activities 141,340 (58,694) 308,123
Cash flows from investing activities:      
Capital expenditures, net (756,717) (456,007) (455,240)
Capitalized interest (48,507) (34,890) (2,060)
Purchase of short-term investments 0 0 (443,154)
Proceeds from maturity of short-term investments 0 339,110 208,204
Proceeds from sale of Forum, excluding associated settlement 0 0 210,521
Proceeds from sale of securities investments 0 22,079 7,659
Investments in nonconsolidated affiliates 0 0 (1,050)
Proceeds from sales of nonconsolidated affiliates 0 0 18,000
Loan repayment received from subordinated debt 0 0 58,735
Cash received for notes receivable, net of payments 0 6,328 3,378
Other investing activities 1,060 197 476
Net cash used in investing activities (804,164) (123,183) (394,531)
Cash flows from financing activities:      
Proceeds from issuance of term loan, net of issuance discount 725,000 630,500 100,000
Proceeds from revolving credit facilities 39,100 15,000 0
Taxes paid in lieu of shares issued for share-based compensation (16,658) (8,208) (4,290)
Noncontrolling interest holders’ capital contributions 6,400 18,537 4,300
Distributions to noncontrolling interest holders (6,998) 0 (4,062)
Payments for Repurchase of Common Stock 0 0 (293,531)
Distribution to related parties associated with the settlement of certain share-based awards granted prior to the Entertainment Distribution (2,256) (1,771) 0
Payments of Distributions to Affiliates (4,638) 0 0
Repayment of revolving credit facilities (15,000) 0 (15,000)
Principal repayment on long-term debt (725,000) (46,750) (41,250)
Purchase of noncontrolling interest from redeemable noncontrolling interest holders (12,838) 0 0
Payments for debt financing costs (17,504) (14,623) (3,983)
Net transfers from Madison Square Garden Sports Corp. and its subsidiaries 0 0 143,950
Net cash provided by (used in) financing activities (30,392) 592,685 (113,866)
Effect of exchange rates on cash, cash equivalents and restricted cash (750) 8,027 2,927
Net increase (decrease) in cash, cash equivalents and restricted cash (693,966) 418,835 (197,347)
Cash, cash equivalents and restricted cash at beginning of period 1,539,976 1,121,141 1,318,488
Cash, cash equivalents and restricted cash at end of period 846,010 1,539,976 1,121,141
Non-cash investing and financing activities:      
Noncash or Part Noncash Acquisition, Investments Acquired 0 0 37,715
Investments and loans to nonconsolidated affiliates 791 0 0
Non-cash contribution received from noncontrolling interests 0 (59,763) 0
Capital expenditures incurred but not yet paid 206,462 110,428 81,322
Tenant improvement paid by landlord 0 0 195
Share-based compensation capitalized in property and equipment, net $ 2,979 $ 5,467 $ 5,051
[1] See Note 21, Related Party Transactions, for further information on related party revenues and expenses