MGM Resorts International
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 18, 2025
MGM$33.06+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net income | $1,064,608 | $1,314,924 | $206,731 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 831,097 | 814,128 | 3,482,050 |
| Amortization of debt discounts and issuance costs | 27,227 | 27,844 | 32,769 |
| Loss on early retirement of debt | 7,087 | — | — |
| Provision for credit losses | 61,089 | 48,984 | 22,738 |
| Stock-based compensation | 80,224 | 73,607 | 71,296 |
| Property transactions, net | 81,316 | (370,513) | (1,036,997) |
| Foreign currency transaction loss (gain) | (128,588) | 106,428 | 19,081 |
| Gain on REIT transactions, net | — | — | (2,277,747) |
| Noncash lease expense | 515,403 | 516,120 | 437,603 |
| Other investment losses (gains) | 32,237 | 1,112 | (12,430) |
| Loss from unconsolidated affiliates | 91,387 | 63,136 | 183,670 |
| Distributions from unconsolidated affiliates | 21,929 | 20,121 | 37,435 |
| Deferred income taxes | (85,116) | (117,278) | 496,189 |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (157,662) | (132,288) | (211,687) |
| Inventories | 1,275 | (15,524) | (26,627) |
| Income taxes receivable and payable, net | (132,842) | (58,493) | 197,097 |
| Prepaid expenses and other | 35,062 | (50,875) | (14,424) |
| Accounts payable and accrued liabilities | (107,395) | 410,131 | 183,839 |
| Other | 124,157 | 39,213 | (34,124) |
| Net cash provided by operating activities | 2,362,495 | 2,690,777 | 1,756,462 |
| Cash flows from investing activities | |||
| Capital expenditures | (1,150,589) | (931,813) | (765,067) |
| Dispositions of property and equipment | 13,179 | 5,431 | 112,019 |
| Proceeds from sale of operating resorts | — | 460,392 | 1,054,313 |
| Proceeds from repayment of principal on note receivable | — | 152,518 | — |
| Proceeds from real estate transactions | — | — | 4,373,820 |
| Acquisitions, net of cash acquired | (113,882) | (122,058) | (1,889,118) |
| Investments in unconsolidated affiliates | (182,078) | (161,040) | (254,786) |
| Distributions from unconsolidated affiliates | 2,324 | 8,342 | 10,361 |
| Investments and other | 147,883 | (125,947) | (523,361) |
| Net cash provided by (used in) investing activities | (1,283,163) | (714,175) | 2,118,181 |
| Cash flows from financing activities | |||
| Net borrowings (repayments) under bank credit facilities – maturities of 90 days or less | 104,416 | (1,097,306) | 1,148,276 |
| Issuance of long-term debt | 2,100,000 | — | — |
| Repayment of long-term debt | (2,175,000) | (1,285,600) | (1,070,340) |
| Debt issuance costs | (38,318) | (21,535) | (1,367) |
| Dividends paid to common shareholders | — | — | (4,048) |
| Distributions to noncontrolling interest owners | (188,567) | (177,093) | (210,699) |
| Repurchases of common stock | (1,357,890) | (2,291,917) | (2,775,217) |
| Other | (8,922) | (131,180) | (110,907) |
| Net cash used in financing activities | (1,564,281) | (5,004,631) | (3,024,302) |
| Effect of exchange rate on cash, cash equivalents, and restricted cash | (26,883) | (19,401) | 8,926 |
| Change in cash and cash equivalents classified as assets held for sale | — | 25,938 | (25,938) |
| Cash, cash equivalents, and restricted cash | |||
| Net change for the period | (511,832) | (3,021,492) | 833,329 |
| Balance, beginning of period | 3,014,896 | 6,036,388 | 5,203,059 |
| Balance, end of period | $2,503,064 | $3,014,896 | $6,036,388 |
| Supplemental cash flow disclosures | |||
| Interest paid, net of amounts capitalized | $406,260 | $452,160 | $573,629 |
| Federal, state and foreign income taxes paid, net | 266,996 | 344,397 | 22,955 |
| Non-cash investing and financing activities | |||
| MGM Grand Paradise gaming concession intangible asset | $— | $226,083 | $— |
| MGM Grand Paradise gaming concession payment obligation | — | 226,083 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.