VICI PROPERTIES INC
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
VICI$24.99-0.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows F -
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net income | $2,545,970 | $1,127,598 | $1,017,841 |
| Adjustments to reconcile net income to cash flows provided by operating activities: | |||
| Non-cash leasing and financing adjustments | (515,488) | (337,631) | (119,969) |
| Stock-based compensation | 15,536 | 12,683 | 9,266 |
| Depreciation | 558 | 121 | 121 |
| Other gains | (4,456) | — | — |
| Amortization of debt issuance costs and original issue discount | 46,123 | 32,363 | 71,452 |
| Change in allowance for credit losses | 102,824 | 834,494 | (19,554) |
| Income from unconsolidated affiliate | (1,280) | (59,769) | — |
| Distributions from unconsolidated affiliate | 3,273 | 64,808 | — |
| Net proceeds from settlement of derivatives | — | 201,434 | — |
| Loss on extinguishment of debt | — | — | 15,622 |
| Deferred income taxes | (10,569) | — | — |
| Change in operating assets and liabilities: | |||
| Other assets | 5,469 | (2,717) | 2,143 |
| Accrued expenses and deferred revenue | (12,323) | 46,837 | (91,026) |
| Other liabilities | (7,274) | (392) | 308 |
| Net cash provided by operating activities | 2,168,363 | 1,919,829 | 886,204 |
| Cash flows from investing activities | |||
| Net cash paid in connection with MGP Transactions | — | (4,574,536) | — |
| Net cash paid in connection with the MGM Grand/Mandalay Bay JV Interest Acquisition | (1,266,905) | — | — |
| Investments in leases - sales-type | (241,139) | (4,017,851) | — |
| Investments in leases - financing receivables | (1,131,996) | (296,668) | (6,000) |
| Investments in loans and securities | (959,135) | (193,733) | (33,614) |
| Principal repayments of lease financing receivables | — | — | 543 |
| Principal repayments of loans and receipts of deferred fees | 482,006 | 5,696 | 70,448 |
| Capitalized transaction costs | (1,468) | (7,704) | (20,697) |
| Investments in short-term investments | — | (306,532) | — |
| Maturities of short-term investments | 217,342 | 89,190 | 19,973 |
| Proceeds from sale of real estate | 6,235 | — | 13,301 |
| Acquisition of property and equipment | (1,176) | (65) | (15) |
| Net cash (used in) provided by investing activities | (2,896,236) | (9,302,203) | 43,939 |
F - 16
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from financing activities | |||
| Contributions from Parent | 2,507,511 | 3,219,202 | 2,386,911 |
| Distributions to Parent | (1,605,502) | (1,238,920) | (758,300) |
| Proceeds from April 2022 Notes offering | — | 5,000,000 | — |
| Proceeds from Revolving Credit Facility | 419,148 | 600,000 | — |
| Repayment of Revolving Credit Facility | (250,000) | (600,000) | — |
| Repayment of Term Loan B Facility | — | — | (2,100,000) |
| Repurchase of stock for tax withholding | (4,966) | (6,156) | — |
| Debt issuance costs | (105) | (146,189) | (31,126) |
| Distributions to non-controlling interest | (9,166) | (8,529) | (8,307) |
| Net cash provided by (used in) financing activities | 1,056,920 | 6,819,408 | (510,822) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (63) | — | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 328,984 | (562,966) | 419,321 |
| Cash, cash equivalents and restricted cash, beginning of period | 142,600 | 705,566 | 286,245 |
| Cash, cash equivalents and restricted cash, end of period | $471,584 | $142,600 | $705,566 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $762,610 | $466,806 | $323,219 |
| Cash paid for income taxes | 1,598 | 1,377 | 1,397 |
| Supplemental non-cash investing and financing activity: | |||
| Distributions payable | $439,486 | $380,581 | $226,309 |
| Issuance of stock based compensation, subject to repurchase for tax withholding | 11,443 | — | — |
| Debt issuance costs payable | 45 | — | 43,005 |
| Deferred transaction costs payable | 2,311 | 2,526 | 3,877 |
| Non-cash change in Investments in leases - financing receivables | 276,929 | 189,123 | 21,139 |
| Obtaining right-of-use assets in exchange for lease liabilities | 82,099 | 541,676 | — |
F - 17
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