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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income (loss) $ (335,938) $ 674,519
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 290,551 318,290
Amortization of debt discounts, premiums and issuance costs 9,734 7,935
Loss on early retirement of debt 0 126,743
Provision for credit losses 2,127 21,980
Stock-based compensation 16,549 36,898
Property transactions, net 26,071 54,975
Gain on REIT transaction, net 0 (1,491,945)
Noncash lease expense 44,467 51,096
Loss (income) from unconsolidated affiliates 46,415 (3,127)
Distributions from unconsolidated affiliates 16,294 13,886
Deferred income taxes (80,293) 277,221
Change in operating assets and liabilities:    
Accounts receivable (45,970) 136,225
Inventories 5,911 (3,322)
Income taxes receivable and payable, net 1,238 (17,295)
Prepaid expenses and other (27,258) (40,111)
Accounts payable and accrued liabilities (23,763) (577,936)
Other (33,745) (8,969)
Net cash used in operating activities (87,610) (422,937)
Cash flows from investing activities    
Capital expenditures, net of construction payable (78,914) (73,110)
Dispositions of property and equipment 505 175
Proceeds from Mandalay Bay and MGM Grand Las Vegas transaction 0 2,455,839
Investments in unconsolidated affiliates (76,845) (20,649)
Distributions from unconsolidated affiliates 0 426
Other 342 0
Net cash provided by (used in) investing activities (154,912) 2,362,681
Cash flows from financing activities    
Net borrowings under bank credit facilities – maturities of 90 days or less 125,902 1,289,434
Issuance of long-term debt 749,775 0
Retirement of senior notes 0 (846,724)
Debt issuance costs (9,212) (9,339)
Proceeds from issuance of bridge loan facility 0 1,304,625
Dividends paid to common shareholders (1,237) (73,904)
Distributions to noncontrolling interest owners (76,390) (72,653)
Purchases of common stock (119,269) (353,720)
Other (32,104) (17,582)
Net cash provided by financing activities 1,313,499 1,744,753
Effect of exchange rate on cash (1,102) 2,316
Cash and cash equivalents    
Net increase for the period 1,069,875 3,686,813
Balance, beginning of period 5,101,637 2,329,604
Balance, end of period 6,171,512 6,016,417
Supplemental cash flow disclosures    
Interest paid, net of amounts capitalized 146,631 162,002
Federal, state and foreign income taxes paid (refunds received), net (2,401) 2,439
Non-cash investing and financing activities    
Investment in MGP BREIT Venture 0 802,000
MGP BREIT Venture assumption of bridge loan facility 0 1,304,625
MGM Growth Properties LLC [Member]    
Cash flows from financing activities    
Issuance of MGM Growth Properties Class A shares, net $ 676,034 $ 524,616