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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities    
Net income $ 77.7 $ 289.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 268.5 163.2
Amortization of debt discount and debt issuance costs 4.9 11.0
Noncash interest expense 12.9 5.2
Noncash operating lease expense 47.2 75.5
Holding loss (gain) on equity securities 55.6 (18.8)
Loss (gain) on sale or disposal of property and equipment 7.2 (0.2)
Gain on Hurricane Laura (8.8) 0.0
Income from unconsolidated affiliates (10.5) (18.7)
Return on investment from unconsolidated affiliates 17.0 13.4
Deferred income taxes 39.6 21.8
Stock-based compensation 31.5 13.4
Loss on early extinguishment of debt 10.4 0.0
Changes in operating assets and liabilities, net of businesses acquired    
Accounts receivable 7.7 (42.1)
Prepaid expenses and other current assets (31.5) (22.0)
Other assets 7.6 (8.4)
Accounts payable (14.4) 1.0
Accrued expenses (23.0) 55.3
Income taxes 15.4 21.1
Operating lease liabilities (43.2) (63.2)
Other current and long-term liabilities (36.6) 7.5
Other 1.2 0.0
Net cash provided by operating activities 436.4 504.6
Investing activities    
Capital expenditures (125.6) (64.6)
Proceeds from sale of property and equipment 4.6 0.4
Hurricane Laura insurance proceeds 24.2 0.0
Consideration paid for acquisitions of businesses, net of cash acquired 0.0 (6.2)
Consideration paid for a cost method investment (15.0) 0.0
Consideration paid for gaming licenses and other intangible assets (1.9) (18.7)
Other 0.0 (10.0)
Net cash used in investing activities (113.7) (99.1)
Financing activities    
Proceeds from issuance of long-term debt, net of discounts 1,545.0 0.0
Repayments on credit facilities (1,543.2) 0.0
Principal payments on long-term debt (20.5) (32.2)
Debt issuance costs (18.2) 0.0
Proceeds from other long-term obligations 0.0 72.5
Payments of other long-term obligations (9.1) (8.6)
Principal payments on financing obligations (31.9) (17.7)
Principal payments on finance leases (53.5) (3.4)
Proceeds from exercise of options 2.8 8.5
Repurchase of common stock (342.1) 0.0
Proceeds from insurance financing 0.0 26.6
Payments on insurance financing 0.0 (17.5)
Other (6.6) (9.4)
Net cash (used in) provided by financing activities (477.3) 18.8
Effect of currency rate changes on cash, cash equivalents, and restricted cash (0.6) 0.0
Change in cash, cash equivalents, and restricted cash (155.2) 424.3
Cash, cash equivalents and restricted cash at the beginning of the year 1,880.1 1,870.4
Cash, cash equivalents and restricted cash at the end of the period 1,724.9 2,294.7
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 1,708.3 2,274.7
Restricted cash included in Other current assets 15.4 18.8
Restricted cash included in Other assets 1.2 1.2
Total cash, cash equivalents and restricted cash 1,724.9 2,294.7
Supplemental disclosure:    
Cash paid for interest, net of amounts capitalized 338.5 275.2
Cash payments related to income taxes, net 45.5 27.7
Non-cash activities:    
Commencement of operating leases 39.0 28.9
Commencement of finance leases 1,417.1 0.0
Accrued capital expenditures $ 25.5 $ 25.5