WYNN RESORTS LTD
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
WYNN$87.30+0.7%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $782,217 | $(709,368) | $(1,011,990) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 687,270 | 692,318 | 715,962 |
| Deferred income taxes | (502,784) | 3,241 | (2,706) |
| Stock-based compensation expense | 64,515 | 67,627 | 95,238 |
| Amortization of debt issuance costs | 39,532 | 29,427 | 27,047 |
| Loss on debt financing transactions | 12,683 | — | 2,060 |
| Provision for credit losses | (3,964) | (7,295) | 29,487 |
| Change in derivatives fair value | (45,098) | (15,956) | (11,360) |
| Gain on EBH Transaction, net | — | (181,989) | — |
| Impairment of goodwill and intangible assets | 94,490 | 48,036 | 10,254 |
| Property charges and other | 117,176 | 59,305 | 64,434 |
| Increase (decrease) in cash from changes in: | |||
| Receivables, net | (123,747) | (9,335) | (29,441) |
| Inventories, prepaid expenses and other | (6,025) | (19,737) | (21,499) |
| Customer deposits | 37,951 | 69,692 | (207,878) |
| Accounts payable and accrued expenses | 93,663 | (97,238) | 117,801 |
| Net cash provided by (used in) operating activities | 1,247,879 | (71,272) | (222,591) |
| Cash flows from investing activities: | |||
| Capital expenditures, net of construction payables and retention | (442,793) | (300,127) | (290,657) |
| Purchase of investments | (836,519) | — | — |
| Purchase of intangible and other assets | (64,383) | (52,377) | (56,034) |
| Proceeds from EBH Transaction | — | 1,700,000 | — |
| Proceeds from sale of assets and other | 1,162 | 1,471 | 4,268 |
| Net cash (used in) provided by investing activities | (1,342,533) | 1,348,967 | (342,423) |
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | 1,200,000 | 211,435 | 1,340,281 |
| Repayments of long-term debt | (1,533,124) | (50,000) | (2,488,401) |
| Proceeds from issuance of Wynn Resorts, Limited common stock | — | — | 841,896 |
| Proceeds from exercise of stock options | 1,965 | — | — |
| Repurchase of common stock | (212,455) | (187,499) | (13,842) |
| Proceeds from issuance of subsidiary common stock | — | 2,895 | 4,662 |
| Proceeds from sale of noncontrolling interest in subsidiary | — | 50,033 | — |
| Payments to acquire ownership interest in subsidiary | — | — | (5,433) |
| Distribution to noncontrolling interest | (22,579) | (27,744) | (18,761) |
| Dividends paid | (84,733) | (1,445) | (1,553) |
| Finance lease payments | (19,267) | (18,188) | (15,658) |
| Payments for financing costs | (41,240) | (3,165) | (31,193) |
| Other | (7,773) | — | — |
| Net cash used in financing activities | (719,206) | (23,678) | (388,002) |
| Effect of exchange rate on cash, cash equivalents and restricted cash | 282 | (2,094) | (2,301) |
| Cash, cash equivalents and restricted cash: | |||
| (Decrease) increase in cash, cash equivalents and restricted cash | (813,578) | 1,251,923 | (955,317) |
| Balance, beginning of period | 3,782,990 | 2,531,067 | 3,486,384 |
| Balance, end of period | $2,969,412 | $3,782,990 | $2,531,067 |
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