BOYD GAMING CORP
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
BYD$76.57-0.6%Stored close · as of Nov 6, 2026
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Condensed Consolidated Statements of Cash Flows for the
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (In thousands) | 2024 | 2023 |
| Cash Flows from Operating Activities | ||
| Net income | $136,473 | $199,731 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 62,913 | 61,560 |
| Amortization of debt financing costs and discounts on debt | 1,903 | 2,030 |
| Non-cash operating lease expense | 22,604 | 19,544 |
| Non-cash expected credit loss (income) on note receivable | — | (34,371) |
| Share-based compensation expense | 6,860 | 7,819 |
| Deferred income taxes | 179 | 17,531 |
| Non-cash impairment of assets | 10,500 | 4,537 |
| Other operating activities | 1,859 | (29) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 18,970 | 6,027 |
| Inventories | 250 | 200 |
| Prepaid expenses and other current assets | 6,704 | (5,148) |
| Income taxes payable, net | 40,766 | 41,984 |
| Other assets, net | (1,770) | (1,268) |
| Accounts payable and accrued liabilities | (38,460) | (34,485) |
| Operating lease liabilities | (22,604) | (19,544) |
| Other liabilities | 3,582 | 16,057 |
| Net cash provided by operating activities | 250,729 | 282,175 |
| Cash Flows from Investing Activities | ||
| Capital expenditures | (89,645) | (96,100) |
| Payments received on note receivable | 208 | 17,315 |
| Other investing activities | (893) | (1,142) |
| Net cash used in investing activities | (90,330) | (79,927) |
| Cash Flows from Financing Activities | ||
| Borrowings under credit facility | 364,300 | 356,900 |
| Payments under credit facility | (413,600) | (439,700) |
| Share-based compensation activities | (9,842) | (14,384) |
| Shares repurchased and retired | (105,500) | (106,327) |
| Dividends paid | (15,510) | (15,475) |
| Other financing activities | (37) | (51) |
| Net cash used in financing activities | (180,189) | (219,037) |
| Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash | (102) | (3) |
| Change in cash, cash equivalents and restricted cash | (19,892) | (16,792) |
| Cash, cash equivalents and restricted cash, beginning of period | 307,930 | 295,065 |
| Cash, cash equivalents and restricted cash, end of period | $288,038 | $278,273 |
| Supplemental Disclosure of Cash Flow Information | ||
| Cash paid for interest, net of amounts capitalized | $40,830 | $41,075 |
| Cash received for interest | 212 | 5,120 |
| Cash received for income taxes | (340) | (32) |
| Supplemental Schedule of Non-cash Investing and Financing Activities | ||
| Payables incurred for capital expenditures | $23,172 | $2,356 |
| Dividends declared not yet paid | 16,262 | 16,289 |
| Expected credit loss (income) on note receivable | — | (34,371) |
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