XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities    
Net income $ 40,987 $ 45,437
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 104,053 60,390
Amortization of items charged to interest expense 1,917 1,603
Amortization of operating lease right-of-use assets 30,434 0
Change in fair value of contingent purchase price 4,717 1,134
Loss on sale of property and equipment 522 55
Income from unconsolidated affiliates (5,687) (5,361)
Return on investment from unconsolidated affiliates 6,500 6,500
Deferred income taxes 10,980 5,926
Stock-based compensation 3,417 2,929
Impairment losses 0 618
Loss on early extinguishment of debt 0 882
Changes in operating assets and liabilities, net of businesses acquired    
Accounts receivable (2,926) 3,973
Prepaid expenses and other current assets (8,132) (7,248)
Other assets (648) (567)
Accounts payable 927 (4,142)
Accrued expenses (25,291) (50,634)
Income taxes 5,295 6,072
Operating lease liabilities (38,864) 0
Other current and noncurrent liabilities (2,522) (642)
Net cash provided by operating activities 125,679 66,925
Investing activities    
Project capital expenditures (1,446) (1,211)
Maintenance capital expenditures (36,220) (10,602)
Proceeds from sale of property and equipment 321 49
Consideration paid for acquisitions of businesses, net of cash acquired (370,262) 0
Consideration paid for gaming licenses and other intangible assets (343) (50,379)
Other (250) (327)
Net cash used in investing activities (408,200) (62,470)
Financing activities    
Proceeds from revolving credit facility 90,000 30,000
Principal payments on long-term debt (11,668) (45,441)
Repayments on revolving credit facility (110,000) (30,000)
Payments of other long-term obligations (7,937) (7,636)
Proceeds from sale-and-leaseback transactions in conjunction with acquisitions 261,127 0
Principal payments on financing obligations (12,559) (16,650)
Principal payments on finance leases (1,640) 0
Proceeds from exercise of options 534 791
Payments of contingent purchase price (21) (121)
Proceeds from insurance financing 13,666 8,541
Payments on insurance financing (5,857) (3,907)
Other (275) 0
Net cash provided by (used in) financing activities 215,370 (64,423)
Change in cash, cash equivalents, and restricted cash (67,151) (59,968)
Cash, cash equivalents and restricted cash at the beginning of the year 481,238 279,418
Cash, cash equivalents and restricted cash at the end of the period 414,087 219,450
Reconciliation of cash, cash equivalents and restricted cash:    
Total cash, cash equivalents and restricted cash 481,238 279,418
Supplemental disclosure:    
Cash paid for interest, net of amounts capitalized 139,675 120,229
Cash payments (refunds) related to income taxes, net (1,727) 2,233
Non-cash investing and financing activities:    
Commencement of operating leases 196,494 0
Commencement of finance leases 0 0
Accrued capital expenditures $ 6,596 $ 786