United Parks & Resorts Inc.
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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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.
FY2023 · Filed Feb 29, 2024
PRKS$42.36-2.0%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
| UNITED PARKS & RESORTS INC. AND SUBSIDIARIES | |||
|---|---|---|---|
| CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| (In thousands) | |||
| Year Ended December 31, | |||
| 2023 | 2022 | 2021 | |
| Cash Flows From Operating Activities: | |||
| Net income | $234,196 | $291,190 | $256,513 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 154,208 | 152,620 | 148,660 |
| Amortization of debt issuance costs and discounts | 6,131 | 6,234 | 6,419 |
| Loss on early extinguishment of debt and write-off of discounts and debt issuance costs | — | — | 52,011 |
| Deferred income tax provision (benefit) | 72,636 | 95,487 | (4,117) |
| Equity-based compensation | 17,032 | 18,158 | 39,722 |
| Other including loss on impairment or disposal of assets, net | 30,523 | 15,280 | 5,816 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (4,528) | 10,334 | (58,927) |
| Inventories | 5,366 | (27,112) | 644 |
| Prepaid expenses and other current assets | 9,448 | (7,020) | (2,424) |
| Accounts payable and accrued expenses | (8,887) | 7,849 | 20,050 |
| Accrued salaries, wages and benefits | 3,781 | (4,733) | 11,375 |
| Deferred revenue | (13,953) | 329 | 33,070 |
| Other accrued liabilities | 5,608 | 1,961 | (3,785) |
| Right-of-use assets and operating lease liabilities | 439 | 580 | 396 |
| Other assets and liabilities | (7,084) | 3,431 | (2,411) |
| Net cash provided by operating activities | 504,916 | 564,588 | 503,012 |
| Cash Flows From Investing Activities: | |||
| Capital expenditures | (304,836) | (200,705) | (128,854) |
| Other investing activities | (771) | — | — |
| Net cash used in investing activities | (305,607) | (200,705) | (128,854) |
| Cash Flows From Financing Activities: | |||
| Proceeds from the issuance of debt, net | — | — | 1,922,222 |
| Repayments of long-term debt | (12,000) | (12,000) | (2,032,728) |
| Proceeds from draw on revolving credit facility | 20,000 | — | — |
| Repayments of revolving credit facility | (20,000) | — | — |
| Purchase of treasury stock | (17,861) | (693,623) | (215,749) |
| Payment of tax withholdings on equity-based compensation through shares withheld | (6,859) | (22,501) | (14,506) |
| Exercise of stock options | 2,940 | 3,028 | 5,907 |
| Debt issuance costs | — | (469) | (23,272) |
| Other financing activities | (927) | (484) | (6,771) |
| Net cash used in financing activities | (34,707) | (726,049) | (364,897) |
| Change in Cash and Cash Equivalents, including Restricted Cash | 164,602 | (362,166) | 9,261 |
| Cash and Cash Equivalents, including Restricted Cash—Beginning of year | 82,320 | 444,486 | 435,225 |
| Cash and Cash Equivalents, including Restricted Cash—End of year | $246,922 | $82,320 | $444,486 |
| Supplemental Disclosures of Noncash Investing and Financing Activities | |||
| Capital expenditures in accounts payable and accrued expenses | $50,618 | $40,729 | $20,468 |
| Other financing arrangements | $— | $— | $4,239 |
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