MGM Resorts International MGM Cash Flow

Mgm resorts international (MGM)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities
Net income
2,822	2,214	154	319	383	583	1,997	2,001	2,101	2,088	738	1,123	1,397	1,235	-304	-770	-1,158	-1,037	146	102	153	127	437	413	204	41	-1,169	-1,351	-1,391	-1,616	-447	-399	3,121	3,234	3,115	2,903	-1,430	-1,437	0	0	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
1,306	1,304	1,285	1,264	1,225	1,178	1,114	1,063	1,012	993	977	937	899	849	816	811	813	819	822	820	814	815	820	829	844	849	868	885	902	927	938	959	901	817	726	635	622	633	0	0	0
Amortization of debt discounts, premiums and issuance costs
37	38	39	40	40	41	37	35	33	32	34	35	36	40	43	49	48	46	44	38	38	37	37	37	36	35	43	50	58	73	79	86	93	93	94	95	96	87	0	0	0
Loss on early retirement of debt
-324	-198	-57	-54	-2	-3	-16	-47	-46	-45	-31	-17	-66	-66	0	0	0	-	-	-	-	-	-	-	-	-3	-508	-508	-504	-563	0	0	0	-	-	-	-	132	0	0	0
Provision for doubtful accounts
52	39	37	39	38	39	39	27	16	20	21	22	18	10	10	18	41	54	61	58	54	46	30	22	11	14	27	42	51	57	66	58	50	39	26	23	36	29	0	0	0
Stock-based compensation
93	88	83	85	86	70	67	65	62	62	62	61	59	55	51	46	44	42	41	41	39	37	34	32	31	32	33	35	37	39	41	41	41	39	37	36	34	34	0	0	0
Property transactions, net
322	275	293	0	12	9	8	58	54	50	35	26	13	17	28	36	39	35	13	12	42	41	42	61	116	124	722	702	704	696	192	268	179	178	80	325	1,450	1,451	0	0	0
Gain on REIT transactions, net
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash lease expense
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income from unconsolidated affiliates
39	57	63	66	97	96	99	104	98	111	116	109	510	471	470	482	74	178	133	100	72	-24	-80	-105	-133	-140	-97	-131	-114	-148	-144	-110	-91	-27	3	1	-59	-190	0	0	0
Distributions from unconsolidated affiliates
14	0	0	1	7	11	14	15	13	13	13	13	14	16	32	32	32	29	15	16	15	15	15	16	16	16	18	18	20	21	21	23	27	60	119	121	118	92	0	0	0
Deferred income taxes
804	595	158	186	204	46	-1,412	-1,342	-1,339	-1,259	103	-31	-98	-81	14	40	73	-2	219	252	269	331	6	-22	-21	48	-18	-4	-12	-117	-222	-291	-370	-394	-269	-431	-790	-634	0	0	0
Change in operating assets and liabilities:
Accounts receivable
639	726	773	95	127	149	63	55	26	17	42	5	18	31	-8	-5	32	61	99	52	24	32	53	56	28	59	15	-5	39	-1	15	166	155	155	111	9	43	17	0	0	0
Inventories
-2	-6	-1	-4	2	7	2	6	6	4	3	1	-1	-10	-7	-6	-3	2	4	5	2	-3	1	1	-3	0	-9	-12	-5	-5	3	7	7	8	2	0	-1	-5	0	0	0
Income taxes receivable and payable, net
-25	1	-4	2	23	14	-25	-15	-119	-53	6	-9	73	13	-5	-5	-6	-5	-15	-43	-28	-29	1	26	16	13	0	6	-57	-5	355	354	240	183	215	202	43	197	0	0	0
Prepaid expenses and other
-7	-7	-9	-4	24	8	46	39	38	54	14	-15	-19	-20	0	5	16	13	13	-14	-14	-22	-38	10	42	38	52	40	-3	4	14	1	7	-15	-20	-8	-4	-1	0	0	0
Prepaid Cotai land concession premium
-	-	-	-	-	-	-	-	-	-	7	22	22	22	22	22	22	22	22	22	22	22	22	22	22	7	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable and accrued liabilities
-2	465	450	-213	-202	21	466	638	676	422	191	245	226	273	53	-58	-159	-142	-227	-366	-278	-288	-243	-60	95	116	97	175	-33	163	266	162	175	32	80	55	82	11	0	0	0
Other
-32	-35	-46	-30	-40	-34	-31	-40	-23	-21	-32	-29	-32	-39	-51	-49	-42	-26	-3	6	0	0	12	11	6	-20	13	0	-2	13	-24	-9	4	5	0	-16	-0	-12	0	0	0
Net cash provided by (used in) operating activities
987	1,810	1,683	1,597	1,544	1,722	2,089	2,360	2,378	2,206	1,996	1,859	1,714	1,533	1,316	1,171	1,054	1,005	845	774	1,015	1,130	1,237	1,384	1,406	1,310	1,117	1,127	812	909	1,081	890	942	675	604	451	572	504	0	0	0
Cash flows from investing activities
Capital expenditures, net of construction payable
628	739	745	946	1,251	1,486	1,688	1,853	1,826	1,864	2,071	2,164	2,291	2,262	2,056	1,843	1,601	1,466	1,255	1,095	971	872	800	689	657	562	485	449	406	422	441	432	380	301	255	213	188	207	0	0	0
Dispositions of property and equipment
2	2	26	25	25	25	0	0	0	0	1	2	3	3	10	9	8	8	7	7	7	7	18	18	17	18	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-
Proceeds from Mandalay Bay and MGM Grand Las Vegas transaction
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investments in unconsolidated affiliates
92	81	135	134	63	56	13	14	15	16	7	6	5	3	3	20	37	196	227	225	230	103	75	68	54	28	41	43	48	54	58	51	64	128	252	353	367	553	0	0	0
Distributions from unconsolidated affiliates
69	100	102	212	354	322	0	0	0	-	-	-	-	542	541	542	202	201	201	201	0	0	0	0	0	-	-	-	0	1	0	1	3	2	0	0	0	-	-	-	-
Investments in treasury securities - maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	123	168	192	213	219	264	270	300	285	285	315	315	330	0	0	0	-	-	-	-
Proceeds from treasury securities - maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	210	258	228	255	252	294	300	315	315	315	330	330	330	0	0	0	-	-	-	-
Proceeds from cash deposits original maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
0	31	26	31	36	17	2	1	6	1	25	22	15	11	12	11	4	4	-2	-10	-7	-10	-7	-2	-2	-1	-1	-1	1	1	1	0	0	0	0	17	1	1	0	0	0
Net cash provided by (used in) investing activities
6,608	3,519	-1,313	-2,281	-2,377	-2,083	-2,252	-1,667	-1,547	-1,580	-1,813	-2,436	-2,312	-2,276	-1,982	-1,050	-1,341	-795	-1,335	-1,298	-1,193	-1,524	-779	-722	-670	-560	-494	-461	-440	-446	-470	-467	-20	-21	-39	1	-380	-586	0	0	0
Cash flows from financing activities
Net borrowings (repayments) under bank credit facilities – maturities of 90 days or less
-2,054	-3,634	-1,246	-376	572	1,242	174	-550	287	15	811	2,412	355	491	1,993	307	2,538	977	994	663	388	-28	-1,827	-1,751	926	-28	2,044	1,507	-718	1,779	-72	1,230	-713	-305	577	-51	-395	-1,886	0	0	0
Borrowings under bank credit facilities – maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,118	5,118	5,136	5,153	5,171	5,171	3,451	1,728	2,793	3,243	3,693	3,693	1,350	2,684	4,518	6,802	7,559	6,958	7,854	8,750	9,486	0	0	0
Repayments under bank credit facilities – maturities longer than 90 days
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,634	4,518	6,802	7,559	6,352	7,854	8,750	9,486	10,807	0	0	0
Issuance of long-term debt
2,500	3,250	3,250	3,250	1,750	1,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,100	0	0	0	-	-	-	-	2,489	0	0	0
Retirement of senior notes and senior debentures
3,760	3,764	1,759	1,759	850	2	0	0	0	-	-	-	-	2,258	0	0	0	-	-	-	-	508	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Debt issuance costs
62	63	75	57	82	76	65	69	9	9	10	21	111	139	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	160	0	0	0	-	-	-	-	106	0	0	0
Proceeds from issuance of bridge loan facility
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of MGM Growth Properties Class A shares, net
1,226	1,250	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of MGM Growth Properties common stock in public offering
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
MGM Growth Properties Class A share issuance costs
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends paid to common shareholders
275	271	268	265	262	260	259	258	256	252	189	126	63	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distributions to noncontrolling interest owners
249	223	207	185	184	184	180	181	192	170	164	160	125	103	81	75	106	307	305	336	342	386	385	373	310	318	318	261	263	206	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of common stock
1,385	1,031	788	607	920	1,283	1,133	1,284	689	327	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Retirement of debentures
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	493	0	0	0	-	-	-	-
Other
-52	-41	-40	-40	-40	-45	-53	-60	-67	-58	-41	-29	-16	-16	-15	-15	-16	-12	-8	-8	-8	-10	-7	-8	-8	-7	-7	-6	-5	-5	0	-2	-3	-2	-5	-2	-3	-2	0	0	0
Net cash provided by financing activities
-2,809	-4,529	-438	569	531	389	-519	-1,173	-696	-568	359	-166	328	519	297	40	-246	-257	989	1,501	1,261	308	-516	-575	-1,101	-489	-1,691	-1,118	-526	-786	14	385	280	711	697	-543	-201	-1,475	0	0	0
Effect of exchange rate on cash
6	2	-0	2	-0	-1	-1	-3	-5	-3	-3	-2	-1	-0	-1	-1	-0	0	1	0	0	-0	-1	-0	-0	-0	-0	0	0	1	0	0	0	-	-	-	-	-	-	-	-
Cash and cash equivalents
Net increase (decrease) for the period
4,793	802	-69	-112	-301	26	-684	-484	129	53	540	-746	-269	-223	-369	160	-534	-47	501	977	1,085	-86	-60	86	-365	260	-1,067	-453	-154	-322	628	810	1,203	1,366	1,262	-91	-9	-1,557	0	0	0
Change in cash related to assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental cash flow disclosures
Interest paid, net of amounts capitalized
779	826	804	814	764	723	652	641	614	658	632	655	678	661	703	725	758	776	805	783	789	776	790	796	821	840	951	1,002	1,046	1,039	1,022	969	993	1,001	974	1,025	988	1,020	0	0	0
Federal, state and foreign income taxes paid (received), net of refunds
37	28	16	7	-19	-10	14	30	182	181	163	153	66	68	43	45	11	11	33	55	43	42	40	7	0	0	1	2	8	6	5	6	-172	-172	-170	-140	-329	-330	0	0	0
Non-cash investing and financing activities
Empire City Transaction assets acquired
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in MGP BREIT Venture
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
MGP BREIT Venture assumption of bridge loan facility
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Increase (decrease) in investment in and advances to CityCenter related to change in completion guarantee liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	1	31	62	83	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Empire City [Member]
Acquisition, net of cash acquired
0	535	535	535	535	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-