United Parks & Resorts Inc.
For the period ended Dec 31, 2025. Filed Mar 3, 2026.
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FY2025 · Filed Mar 3, 2026
PRKS$42.36-2.0%Stored close · as of Nov 10, 2026
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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, | |||
| 2025 | 2024 | 2023 | |
| Cash Flows From Operating Activities: | |||
| Net income | $168,353 | $227,497 | $234,196 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 174,474 | 163,438 | 154,208 |
| Amortization of debt issuance costs and discounts | 4,385 | 4,978 | 6,131 |
| Loss on early extinguishment of debt and write-off of discounts and debt issuance costs | — | 5,544 | — |
| Deferred income tax provision | 49,054 | 50,694 | 72,636 |
| Equity-based compensation | 17,233 | 13,673 | 17,032 |
| Other including loss on impairment or disposal of assets, net | 31,282 | 33,816 | 30,523 |
| Changes in assets and liabilities: | |||
| Accounts receivable | 5,036 | (10,926) | (4,528) |
| Inventories | (8,628) | 2,597 | 5,366 |
| Prepaid expenses and other current assets | (23,644) | (7,727) | 9,448 |
| Accounts payable and accrued expenses | (9,339) | 13,248 | (8,887) |
| Accrued salaries, wages and benefits | 4,380 | 1,462 | 3,781 |
| Deferred revenue | (13,734) | 475 | (13,953) |
| Other accrued liabilities | (15,726) | (15,297) | 5,608 |
| Right-of-use assets and operating lease liabilities | 412 | 596 | 439 |
| Other assets and liabilities | (3,453) | (3,929) | (7,084) |
| Net cash provided by operating activities | 380,085 | 480,139 | 504,916 |
| Cash Flows From Investing Activities: | |||
| Capital expenditures | (217,489) | (248,430) | (304,836) |
| Other investing activities | — | (75) | (771) |
| Net cash used in investing activities | (217,489) | (248,505) | (305,607) |
| Cash Flows From Financing Activities: | |||
| Proceeds from the issuance of debt, net | — | 378,295 | — |
| Repayments of long-term debt | (15,423) | (242,058) | (12,000) |
| Proceeds from draw on revolving credit facility | — | — | 20,000 |
| Repayments of revolving credit facility | — | — | (20,000) |
| Purchase of treasury stock, including related excise tax paid | (160,413) | (482,922) | (17,861) |
| Payment of tax withholdings on equity-based compensation through shares withheld | (2,540) | (8,756) | (6,859) |
| Exercise of stock options | 1,133 | 1,792 | 2,940 |
| Debt issuance costs | — | (7,780) | — |
| Other financing activities | (1,484) | (1,234) | (927) |
| Net cash used in financing activities | (178,727) | (362,663) | (34,707) |
| Change in Cash and Cash Equivalents, including Restricted Cash | (16,131) | (131,029) | 164,602 |
| Cash and Cash Equivalents, including Restricted Cash—Beginning of year | 115,893 | 246,922 | 82,320 |
| Cash and Cash Equivalents, including Restricted Cash—End of year | $99,762 | $115,893 | $246,922 |
| Supplemental Disclosures of Noncash Investing and Financing Activities | |||
| Capital expenditures in accounts payable and accrued expenses | $41,420 | $40,583 | $50,618 |
| Excise tax accrued on treasury stock repurchases | $1,455 | $4,608 | $— |
| Treasury stock purchases not yet settled in accounts payable and accrued expenses | $1,174 | $— | $— |
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