| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income (loss) | ||||||
275,565 | 244,702 | 165,990 | 35,346 | -261,954 | -246,242 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Income from discontinued operations, net | ||||||
16,216 | 30,563 | 0 | - | - | - | |
Depreciation, Depletion and Amortization | ||||||
294,705 | 266,622 | 260,455 | 220,667 | 196,816 | 186,262 | |
Property Transactions Net | ||||||
10,844 | 20,319 | 34,022 | 4,684 | 6,665 | 0 | |
Amortization of deferred financing costs and debt discount | ||||||
12,733 | 12,031 | 11,360 | 7,195 | 0 | 0 | |
Loss on retirement of debt | ||||||
-6,161 | -2,736 | -798 | 0 | - | - | |
Non-cash ground lease, net | ||||||
1,038 | 686 | 686 | - | - | - | |
Amortization of above and below Market Leases | ||||||
- | - | - | 286 | 0 | 0 | |
Deemed contributions - tax sharing agreement | ||||||
7,008 | 5,745 | 1,730 | 2,156 | - | - | |
Provision for income taxes | ||||||
- | - | - | - | 0 | 0 | |
Straight-line rental revenues, excluding amortization of lease incentive asset | ||||||
-41,447 | -20,680 | -6,414 | 1,739 | 0 | 0 | |
Amortization of deferred revenue on non-normal tenant improvements | ||||||
2,013 | 3,711 | 2,352 | 80 | 0 | 0 | |
Loss on unhedged interest rate swaps, net | ||||||
-3,880 | 0 | 0 | - | - | - | |
Share-based compensation | ||||||
2,277 | 2,093 | 1,336 | 510 | 0 | 0 | |
Deferred income taxes | ||||||
-3,725 | 5,090 | 3,176 | 108 | - | - | |
Amortization of lease incentive asset | ||||||
16,360 | 0 | 0 | - | - | - | |
Park MGM Transaction | ||||||
605,625 | 0 | 0 | 0 | - | - | |
Distributions received from discontinued operations and other | ||||||
40,165 | 2,801 | 0 | - | - | - | |
Change in operating assets and liabilities: | ||||||
Tenant and other receivables, net | ||||||
540 | 1,283 | -3,118 | 9,503 | 0 | 0 | |
Prepaid expenses and other assets | ||||||
-903 | -654 | 1,537 | -6,747 | 0 | 0 | |
Due to MGM Resorts International and affiliates | ||||||
547 | -735 | 796 | 166 | 0 | 0 | |
Accounts payable, accrued expenses and other liabilities | ||||||
-1,616 | 5,403 | 158 | 5,101 | 0 | 0 | |
Accrued interest | ||||||
16,808 | 3,531 | -3,572 | 26,137 | 0 | 0 | |
Net Cash Provided by (Used in) Operating Activities | ||||||
100,706 | 556,801 | 482,578 | 297,781 | -58,473 | -59,980 | |
Capital expenditures for property and equipment | ||||||
0 | 192 | 488 | 138,987 | 129,308 | 90,504 | |
Proceeds from Northfield OpCo Transaction | ||||||
-3,779 | 0 | 0 | - | - | - | |
Payments to Acquire Businesses, Gross | ||||||
- | - | 462,500 | 0 | 0 | - | |
Net cash provided by (used in) investing activities - continuing operations | ||||||
3,779 | -1,068,528 | -462,988 | -138,987 | -129,308 | -90,504 | |
Cash flows from financing activities | ||||||
Net repayments under bank credit facility | ||||||
-1,115,375 | 727,750 | -41,875 | -16,750 | - | - | |
Proceeds from issuance of debt | ||||||
750,000 | 0 | 350,000 | 3,700,000 | 0 | 0 | |
Deferred financing costs | ||||||
9,983 | 17,490 | 5,598 | 77,163 | 0 | 0 | |
Repayment of assumed debt and bridge facilities | ||||||
245,950 | 0 | 425,000 | 4,544,850 | 0 | 0 | |
Repayment of debt principal | ||||||
- | - | - | - | 0 | 0 | |
Proceeds from issuance of Class A shares, net | ||||||
1,250,006 | 0 | 387,548 | 1,207,500 | 0 | - | |
Class A share issuance costs | ||||||
- | - | - | 75,032 | 0 | - | |
Dividends and distributions paid | ||||||
533,735 | 454,260 | 385,435 | 150,829 | 0 | 0 | |
Other | ||||||
-1,342 | 0 | 0 | - | - | - | |
Net cash transfers from Parent | ||||||
- | - | - | 158,822 | 187,781 | 150,484 | |
Net cash provided by (used in) financing activities - continuing operations | ||||||
93,621 | 256,000 | -120,360 | 201,698 | 187,781 | 150,484 | |
Cash flows from discontinued operations, net | ||||||
Cash flows provided by operating activities, net | ||||||
15,591 | 23,406 | 0 | - | - | - | |
Cash flows used in investing activities, net | ||||||
-12 | 32,416 | 0 | - | - | - | |
Cash flows used in financing activities, net | ||||||
-37,900 | 0 | 0 | - | - | - | |
Net cash provided by discontinued operations | ||||||
-22,321 | 55,822 | 0 | - | - | - | |
Change in cash and cash equivalents classified as assets held for sale | ||||||
-22,321 | 55,822 | 0 | - | - | - | |
Cash and cash equivalents | ||||||
Net (decrease) increase for the period | ||||||
198,106 | -255,727 | -100,770 | 360,492 | 0 | 0 | |
Supplemental cash flow disclosures | ||||||
Interest paid | ||||||
220,616 | 199,429 | 176,033 | 82,880 | 0 | 0 | |
Non-cash investing and financing activities | ||||||
Non-Normal Tenant Improvements by tenant | ||||||
0 | 19,316 | 52,995 | 72,402 | 0 | 0 | |
Accrual of dividend and distribution payable to Class A shareholders and Operating Partnership unit holders | ||||||
147,349 | 119,055 | 111,733 | 94,109 | 0 | - | |
Empire City Transaction assets acquired | ||||||
- | - | - | - | - | 0 | |
MGP Operating Partnership | ||||||
Net income (loss) | ||||||
275,565 | 244,702 | 165,990 | 35,346 | - | - | |
Income from discontinued operations, net | ||||||
16,216 | 30,563 | 0 | - | - | - | |
Depreciation | ||||||
294,705 | 266,622 | 260,455 | 220,667 | - | - | |
Property Transactions Net | ||||||
10,844 | 20,319 | 34,022 | 4,684 | - | - | |
Amortization of deferred financing costs and debt discount | ||||||
12,733 | 12,031 | 11,360 | 7,195 | - | - | |
Loss on retirement of debt | ||||||
-6,161 | -2,736 | -798 | 0 | - | - | |
Non-cash ground lease, net | ||||||
1,038 | 686 | 686 | - | - | - | |
Amortization of above and below Market Leases | ||||||
- | - | - | 286 | - | - | |
Deemed contributions - tax sharing agreement | ||||||
7,008 | 5,745 | 1,730 | 2,156 | - | - | |
Straight-line rental revenues, excluding amortization of lease incentive asset | ||||||
-41,447 | -20,680 | -6,414 | 1,739 | - | - | |
Amortization of deferred revenue on non-normal tenant improvements | ||||||
2,013 | 3,711 | 2,352 | 80 | - | - | |
Loss on unhedged interest rate swaps, net | ||||||
-3,880 | 0 | 0 | - | - | - | |
Share-based compensation | ||||||
2,277 | 2,093 | 1,336 | 510 | - | - | |
Deferred income taxes | ||||||
-3,725 | 5,090 | 3,176 | 108 | - | - | |
Amortization of lease incentive asset | ||||||
16,360 | 0 | 0 | - | - | - | |
Park MGM Transaction | ||||||
605,625 | 0 | 0 | 0 | - | - | |
Distributions received from discontinued operations and other | ||||||
40,165 | 2,801 | 0 | - | - | - | |
Tenant and other receivables, net | ||||||
540 | 1,283 | -3,118 | 9,503 | - | - | |
Prepaid expenses and other assets | ||||||
-903 | -654 | 1,537 | -6,747 | - | - | |
Due to MGM Resorts International and affiliates | ||||||
547 | -735 | 796 | 166 | - | - | |
Accounts payable, accrued expenses and other liabilities | ||||||
-1,616 | 5,403 | 158 | 5,101 | - | - | |
Accrued interest | ||||||
16,808 | 3,531 | -3,572 | 26,137 | - | - | |
Net Cash Provided by (Used in) Operating Activities | ||||||
100,706 | 556,801 | 482,578 | 297,781 | - | - | |
Capital expenditures for property and equipment | ||||||
0 | 192 | 488 | 138,987 | - | - | |
Proceeds from Northfield OpCo Transaction | ||||||
-3,779 | 0 | 0 | - | - | - | |
Park MGM Transaction | ||||||
- | - | - | 0 | - | - | |
Net cash provided by (used in) investing activities - continuing operations | ||||||
3,779 | -1,068,528 | -462,988 | -138,987 | - | - | |
Net repayments under bank credit facility | ||||||
-1,115,375 | 727,750 | -41,875 | -16,750 | - | - | |
Proceeds from issuance of debt | ||||||
750,000 | 0 | 350,000 | 3,700,000 | - | - | |
Deferred financing costs | ||||||
9,983 | 17,490 | 5,598 | 77,163 | - | - | |
Repayment of assumed debt and bridge facilities | ||||||
245,950 | 0 | 425,000 | 4,544,850 | - | - | |
Proceeds from issuance of Class A shares, net | ||||||
1,250,006 | 0 | 387,548 | 1,132,468 | - | - | |
Dividends and distributions paid | ||||||
533,735 | 454,260 | 385,435 | 150,829 | - | - | |
Other | ||||||
-1,342 | 0 | 0 | - | - | - | |
Net cash transfers from Parent | ||||||
- | - | - | 158,822 | - | - | |
Net cash provided by (used in) financing activities - continuing operations | ||||||
93,621 | 256,000 | -120,360 | 201,698 | - | - | |
Cash flows provided by operating activities, net | ||||||
15,591 | 23,406 | 0 | - | - | - | |
Cash flows used in investing activities, net | ||||||
-12 | 32,416 | 0 | - | - | - | |
Cash flows used in financing activities, net | ||||||
-37,900 | 0 | 0 | - | - | - | |
Net cash provided by discontinued operations | ||||||
-22,321 | 55,822 | 0 | - | - | - | |
Change in cash and cash equivalents classified as assets held for sale | ||||||
-22,321 | 55,822 | 0 | - | - | - | |
Net (decrease) increase for the period | ||||||
198,106 | -255,727 | -100,770 | 360,492 | - | - | |
Interest paid | ||||||
220,616 | 199,429 | 176,033 | 82,880 | - | - | |
Non-Normal Tenant Improvements by tenant | ||||||
0 | 19,316 | 52,995 | 72,402 | - | - | |
Accrual of dividend and distribution payable to Class A shareholders and Operating Partnership unit holders | ||||||
147,349 | 119,055 | 111,733 | 94,109 | - | - | |
Northfield Park Associates, LLC [Member] | ||||||
Payments to Acquire Businesses, Gross | ||||||
0 | 1,068,336 | 0 | - | - | - | |
MGM National Harbor Transaction | ||||||
Payments to Acquire Businesses, Gross | ||||||
0 | 0 | 462,500 | - | - | - | |
Net assets acquired | ||||||
0 | 0 | 721,409 | 0 | - | - | |
Empire City | ||||||
Empire City Transaction assets acquired | ||||||
625,000 | 0 | 0 | - | - | - | |
Borgata Transaction | ||||||
Net assets acquired | ||||||
- | - | - | 1,273,230 | - | - | |
Northfield OpCo | ||||||
Redemption of Operating Partnership units relating to Northfield OpCo Transaction | ||||||
301,373 | 0 | 0 | - | - | - | |