WYNN RESORTS, LIMITED WYNN Income Statement

Wynn resorts, limited (WYNN)

Income statement / Quarterly

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	Sep'09	Jun'09
Operating revenues:
Gross revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,202,054	1,138,168	1,080,761	1,030,718	1,080,765	1,122,595	1,184,543	1,236,656	1,469,010	1,505,893	1,611,306	1,615,855	1,486,035	1,418,122	1,468,232	1,381,617	1,390,131	1,340,809	1,407,831	1,434,615	1,388,739	1,452,244	1,349,504	1,322,262	1,082,318	1,104,139	979,116	836,905	784,552
Less: promotional allowances
-	-	-	-	-	-	-	-	-	-	-	-	-	-	92,232	79,804	83,083	83,816	84,480	82,137	92,305	98,681	99,000	93,830	97,693	95,958	95,923	85,849	89,578	92,533	91,636	87,602	94,333	90,752	90,435	84,891	89,232	85,074	76,369	71,496	70,198	63,834	61,296
Total operating revenues
953,716	1,653,459	1,647,762	1,658,332	1,651,546	1,687,586	1,709,072	1,605,424	1,715,578	1,622,164	1,551,347	1,472,892	1,423,757	1,179,933	1,109,822	1,058,364	997,678	946,902	996,285	1,040,458	1,092,238	1,137,975	1,370,010	1,412,063	1,513,613	1,519,897	1,390,112	1,332,273	1,378,654	1,289,084	1,298,495	1,253,207	1,313,498	1,343,863	1,298,304	1,367,353	1,260,272	1,237,188	1,005,949	1,032,643	908,918	773,071	723,256
Operating expenses:
General and administrative
234,328	230,682	246,442	202,224	217,322	215,872	192,327	183,631	169,585	182,850	178,504	164,169	159,962	166,987	144,206	119,505	117,445	112,247	116,639	113,707	122,200	125,833	126,834	128,520	111,277	116,472	105,026	132,381	94,909	120,187	115,785	99,777	105,950	101,545	107,935	91,912	87,661	105,555	103,030	95,668	87,001	88,987	81,930
Litigation settlement
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provision for credit losses
20,613	8,859	4,036	3,581	5,422	3,941	3,285	-1,390	691	-2,118	1,656	-2,083	-4,166	7,387	-2,368	2,478	706	-2,151	2,885	4,302	6,079	4,649	4,695	-2,710	-2,728	4,773	11,325	-11,225	7,004	12,023	5,283	-17,279	18,064	15,509	4,324	3,784	10,161	13,575	859	6,852	7,018	5,150	3,935
Pre-opening
2,551	2,797	1,616	69,883	27,713	18,235	13,714	11,196	10,345	7,247	6,908	6,758	5,779	4,221	70,778	45,949	33,769	25,190	19,467	16,875	16,091	15,354	6,718	5,001	3,073	1,577	706	434	452	-	-	-	-	-	-	-	-	425	85	6,675	2,311	330	40
Depreciation and amortization
178,746	175,054	172,998	140,269	136,557	138,911	137,458	137,870	136,357	136,880	137,982	137,686	139,820	140,543	106,467	79,749	77,971	77,201	80,649	81,913	82,866	80,082	79,027	78,351	76,659	91,990	93,325	93,218	92,518	93,057	94,274	93,463	92,405	94,118	100,522	102,052	101,347	100,299	99,341	101,353	104,565	101,907	102,731
Property charges and other
27,229	2,366	8,216	6,930	2,774	29,584	18,830	8,791	3,051	-8,918	28,293	7,165	3,036	23,456	18,514	11,331	1,521	6,572	987	472	2,504	-3,237	1,640	2,100	9,934	3,567	2,613	5,612	5,346	3,431	22,721	3,540	10,286	6,579	9,662	111,060	3,348	2,845	17,527	2,966	1,881	725	-5,938
Total operating expenses
1,201,127	1,426,881	1,469,927	1,439,616	1,396,370	1,441,303	1,418,089	1,325,852	1,796,872	1,320,745	1,294,020	1,226,003	1,173,827	1,041,039	1,032,891	910,825	839,380	795,042	843,511	871,337	907,179	922,445	1,037,435	1,070,721	1,136,782	1,151,456	1,076,134	1,058,249	1,045,006	1,031,122	1,051,403	989,084	1,053,399	1,069,057	1,058,459	1,154,320	979,716	1,006,879	874,000	884,497	794,070	693,572	640,458
Operating income (loss)
-247,411	226,578	177,835	218,716	255,176	246,283	290,983	279,572	-81,294	301,419	257,327	246,889	249,930	138,894	76,931	147,539	158,298	151,860	152,774	169,121	185,059	215,530	332,575	341,342	376,831	368,441	313,978	274,024	333,648	257,962	247,092	264,123	260,099	274,806	239,845	213,033	280,556	230,309	131,949	148,146	114,848	79,499	82,798
Other income (expense):
Interest income
7,953	4,470	6,427	6,265	7,287	8,837	6,948	6,861	7,220	9,195	8,447	7,080	6,471	3,596	3,678	2,783	3,479	2,574	1,465	1,498	1,692	4,369	5,814	5,505	4,753	4,118	3,215	4,158	4,222	4,736	3,759	2,483	1,565	3,015	2,663	1,577	399	686	953	571	288	407	524
Interest expense, net of amounts capitalized
128,827	113,049	114,652	93,149	93,180	100,717	93,007	89,898	98,227	96,789	95,874	97,739	98,262	95,667	79,669	69,257	44,772	73,608	74,079	75,236	77,983	78,993	79,048	81,765	75,256	76,332	73,549	73,764	75,377	77,742	75,082	73,874	62,061	55,962	57,462	58,231	58,263	59,663	60,341	53,598	49,261	50,140	53,689
Change in derivatives fair value
-15,660	3,686	-2,101	-3,304	-1,509	-4,466	-54	0	0	0	-2	-283	-771	2,126	1,168	-1,036	-1,825	1,710	-1,287	-1,114	-4,609	-2,942	2,360	-4,653	842	1,104	-3,525	13,512	3,144	-3,939	0	2,646	2,284	2,668	4,118	3,135	4,230	4,749	-352	-1,675	-3,602	-5,344	3,261
Change in Redemption Note fair value
-	-	0	0	-	0	0	0	-69,331	10,282	-41,718	-12,417	-15,847	84,282	-22,218	7,982	-5,003	4,553	47,488	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on extinguishment of debt
-843	-241	-12,196	0	0	-2,027	-198	0	2,329	-12,299	-20,774	-22,287	0	-	0	0	-	0	5,971	3,839	116,194	2,213	3,573	2,254	1,529	13,857	0	26,578	0	49,642	-19,663	0	-4,828	-	-	-	-	-	-64,215	3,152	-	-	11,878
Equity in income from unconsolidated affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	16	1,755	-2	-127	197	176	567	298	308	206	288	391	200	175	190	256	465	230	376	264	602	183	112	115	391	-38	-33
Other
10,335	18,505	-8,703	11,715	-6,358	-5,113	11,216	-957	-9,220	-1,869	-1,894	-11,840	-6,106	334	899	-1,462	-483	-240	459	198	1,133	223	-801	693	-297	471	1,123	2,097	1,165	2,076	1,249	-1,081	768	2,352	-85	784	917	671	-1,141	431	264	-3	287
Other income (expense), net
-127,042	-86,629	-131,225	-78,473	-93,760	-103,486	-75,095	-83,994	-167,229	-91,480	-151,815	-137,486	-114,515	-5,345	-96,142	-60,990	-48,588	-63,256	-31,927	-78,620	-195,764	-79,380	-74,681	-82,176	-71,179	-84,290	-72,448	-80,184	-66,646	-75,354	-89,547	-69,570	-61,807	-47,697	-50,390	-52,471	-52,115	-53,997	-124,984	-57,308	-51,920	-55,118	-37,772
Income (loss) before income taxes
-374,453	139,949	46,610	140,243	161,416	142,797	215,888	195,578	-248,523	209,939	105,512	109,403	135,415	133,549	-19,211	86,549	109,710	88,604	120,847	90,501	-10,705	136,150	257,894	259,166	305,652	284,151	241,530	193,840	267,002	182,608	157,545	194,553	198,292	227,109	189,455	160,562	228,441	176,312	6,965	90,838	62,928	24,381	45,026
Provision for income taxes
75,800	157,419	19,727	-1,991	1,685	-372,713	-3,884	-9,702	-111,045	-334,025	-457	2,607	2,890	6,983	120	-2,893	3,918	-16,190	7,418	13,298	3,197	-12,043	4,888	764	2,609	-6,335	-7,281	1,124	-5,142	16,782	-7,626	-4,740	-117	-31,153	4,270	5,231	2,106	4,438	9,019	1,921	5,069	-9,829	19,547
Net income (loss)
-450,253	-17,470	26,883	142,234	159,731	515,510	219,772	205,280	-137,478	543,964	105,969	106,796	132,525	126,566	-19,331	89,442	105,792	104,794	113,429	77,203	-13,902	148,193	253,006	258,402	303,043	290,486	248,811	192,716	272,144	165,826	165,171	199,293	198,409	258,262	185,185	155,331	226,335	171,874	-2,054	88,917	57,859	34,210	25,479
Less: net (income) loss attributable to noncontrolling interests
-48,216	55,472	30,379	47,683	54,859	50,644	63,657	49,524	66,829	52,282	26,202	31,880	31,709	12,766	-1,894	19,051	30,571	17,573	17,219	20,743	30,699	38,847	61,600	54,496	76,147	76,602	66,791	62,931	69,181	54,453	53,136	61,229	57,845	67,789	58,122	33,300	52,531	57,632	31,454	36,512	30,871	-	0
Net income (loss) attributable to Wynn Resorts, Limited
-402,037	-72,942	-3,496	94,551	104,872	464,866	156,115	155,756	-204,307	491,682	79,767	74,916	100,816	113,800	-17,437	70,391	75,221	87,221	96,210	56,460	-44,601	109,346	191,406	203,906	226,896	213,884	182,020	129,785	202,963	111,373	112,035	138,064	140,564	190,473	127,063	122,031	173,804	114,242	-33,508	52,405	26,988	34,210	25,479
Net income (loss) attributable to Wynn Resorts, Limited:
Basic (in usd per share)
-3.77	-0.68	-0.03	0.88	0.98	4.48	1.44	1.44	-1.99	4.82	0.78	0.73	0.99	1.13	-0.17	0.69	0.74	0.86	0.95	0.56	-0.44	1.08	1.90	2.02	2.25	2.13	1.81	1.29	2.02	1.12	1.12	1.38	1.25	1.54	1.02	0.98	1.40	0.92	-0.27	0.43	0.22	0.28	0.21
Diluted (in usd per share)
-3.77	-0.68	-0.03	0.88	0.98	4.46	1.44	1.44	-1.99	4.78	0.78	0.73	0.99	1.12	-0.17	0.69	0.74	0.85	0.95	0.56	-0.44	1.08	1.88	2.00	2.22	2.10	1.79	1.28	2.00	1.11	1.11	1.37	1.23	1.51	1.01	0.97	1.39	0.92	-0.27	0.42	0.22	0.28	0.21
Weighted average common shares outstanding:
Basic (in shares)
106,663	106,605	106,707	106,876	106,792	107,690	108,064	107,792	102,570	102,414	102,173	101,944	101,753	101,511	101,439	101,438	101,392	101,199	101,161	101,157	101,135	101,012	100,959	100,915	100,822	100,754	100,685	100,484	100,237	100,011	99,871	99,782	112,704	124,253	124,176	123,970	123,757	123,445	122,771	122,521	122,411	122	122,161
Diluted (in shares)
106,663	107,019	106,707	107,141	107,073	108,620	108,533	108,405	102,570	103,035	102,794	102,494	102,069	102,414	101,439	101,881	101,686	102,258	101,581	101,710	101,135	101,698	101,999	102,018	102,009	102,095	101,547	101,549	101,373	101,086	100,892	101,010	114,008	125,708	125,860	125,729	125,371	126,187	122,771	123,816	122,982	122	122,386
Dividends declared per common share (usd per share)
1.00	-	1.00	1.00	0.75	-	0.75	0.75	0.50	-	0.50	0.50	0.50	-	0.50	0.50	0.50	-	0.50	0.50	1.50	-	1.25	1.25	1.25	-	1.00	1.00	1.00	-	0.50	0.50	0.50	-	0.50	0.50	-	-	0.25	0.25	-	-	0.00
Casino
Total operating revenues
570,789	1,137,956	1,108,364	1,142,503	1,185,101	1,220,795	1,222,029	1,100,027	1,242,139	1,177,158	1,075,577	1,001,828	989,740	487,282	788,219	742,659	732,730	692,098	700,014	714,208	826,099	884,664	1,071,829	1,091,595	1,226,133	1,262,391	1,105,595	1,016,148	1,106,503	1,019,249	1,012,841	953,390	1,049,279	1,081,954	1,020,205	1,082,043	1,006,305	998,920	765,391	789,205	691,588	565,072	508,345
Cost of goods and services sold
442,690	726,504	722,692	724,987	750,071	782,141	783,171	707,194	764,401	761,213	678,495	648,616	629,796	339,788	505,620	470,372	452,540	426,932	445,167	466,535	524,053	554,583	647,460	681,236	783,734	783,982	699,897	665,422	697,188	652,615	653,863	645,688	674,656	698,033	679,479	684,505	624,355	632,551	500,303	519,005	448,191	360,595	325,579
Rooms
Total operating revenues
152,681	208,209	205,876	198,807	191,270	192,395	183,044	186,051	190,310	166,822	170,371	164,940	168,824	164,563	152,608	142,847	135,592	133,073	133,460	139,912	132,055	129,197	135,734	141,355	136,476	119,299	123,078	129,373	120,480	117,965	119,635	124,880	117,503	116,582	120,113	119,998	115,381	105,306	101,550	100,528	92,907	91,181	95,185
Cost of goods and services sold
73,480	71,053	75,188	66,148	63,706	64,712	62,965	63,675	63,197	60,650	61,390	62,021	60,767	90,911	40,188	38,040	37,709	37,446	37,293	37,584	36,686	36,099	39,235	37,659	35,345	32,483	33,646	33,984	33,390	31,334	31,944	33,265	29,984	31,692	31,135	31,887	30,572	28,897	30,572	31,648	31,143	28,259	27,258
Food and beverage
Total operating revenues
149,414	199,073	228,508	218,022	173,219	173,165	193,874	214,867	172,222	163,237	200,051	204,294	164,533	166,339	167,997	170,631	130,444	119,768	160,283	181,016	136,013	128,025	160,531	174,308	141,837	125,198	152,218	169,555	139,701	135,592	156,568	161,137	135,140	128,193	142,891	147,787	128,864	119,512	129,432	127,390	111,774	109,152	111,550
Cost of goods and services sold
175,910	168,996	196,661	182,080	148,761	143,441	162,311	168,296	137,658	129,382	151,796	154,744	131,768	204,722	109,333	105,727	79,420	72,727	101,161	110,952	76,406	70,353	91,214	100,686	74,953	70,115	84,118	95,467	73,873	72,824	80,652	84,522	70,396	69,737	73,250	74,956	65,997	65,993	72,221	72,697	61,836	63,980	64,901
Entertainment, retail and other
Total operating revenues
80,832	108,221	105,014	99,000	101,956	101,231	110,125	104,479	110,907	114,947	105,348	101,830	100,660	106,630	93,230	82,031	81,995	85,779	87,008	87,459	90,376	94,770	100,916	98,635	106,860	108,967	105,144	103,046	101,548	108,811	101,087	101,402	105,909	107,886	105,530	102,416	98,954	98,524	85,945	87,016	82,847	71,500	69,472
Cost of goods and services sold
45,580	40,570	42,078	43,514	44,044	44,466	44,028	46,589	48,030	53,559	48,996	46,927	47,065	63,024	40,153	37,674	38,299	38,878	39,263	38,997	40,294	38,729	40,612	39,878	44,535	46,497	45,478	42,956	40,326	45,185	46,881	46,108	51,658	51,844	52,152	54,164	56,275	56,739	50,062	47,633	50,124	43,639	40,022