Six Flags Entertainment Corporation/NEW
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
FUN$10.16-5.6%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
(In thousands)
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net (loss) income | $(1,549,466) | $(206,665) | $124,559 |
| Adjustments to reconcile net (loss) income to net cash from operating activities: | |||
| Depreciation and amortization | 486,383 | 318,113 | 157,995 |
| Loss on early debt extinguishment | — | 7,974 | — |
| Loss on impairment of goodwill and other intangibles | 1,518,099 | 42,462 | — |
| Non-cash foreign currency (gain) loss on USD notes | (16,269) | 23,596 | (5,963) |
| Non-cash equity-based compensation expense | 63,540 | 63,608 | 22,611 |
| Deferred income tax (benefit) expense | (152,682) | 180,925 | (6,757) |
| Interest accretion on NCI call option liability | 34,771 | — | — |
| Other non-cash expenses | 25,368 | 47,606 | 22,828 |
| Change in operating assets and liabilities: | |||
| (Increase) decrease in receivables | (43,832) | (70) | (8,446) |
| (Increase) decrease in inventories | 3,808 | 9,595 | 1,281 |
| (Increase) decrease in other assets | 4,310 | 10,738 | 12,858 |
| Increase (decrease) in accounts payable | (11,800) | (30,714) | (15,079) |
| Increase (decrease) in deferred revenue | (402) | (89,391) | 18,587 |
| Increase (decrease) in accrued interest | (6,931) | (1,690) | 414 |
| Increase (decrease) in income and other taxes | (41,590) | (22,018) | 9,638 |
| Increase (decrease) in accrued salaries, wages and benefits | (5,958) | (5,361) | (15,993) |
| Increase (decrease) in self-insurance reserves | 20,003 | 16,421 | 2,985 |
| Increase (decrease) in other liabilities | 117 | 8,283 | 4,157 |
| Net cash from operating activities | 327,469 | 373,412 | 325,675 |
| CASH FLOWS FOR INVESTING ACTIVITIES | |||
| Capital expenditures | (479,667) | (320,819) | (220,422) |
| Acquisitions, net of cash acquired | — | (151,797) | — |
| Net cash for investing activities | (479,667) | (472,616) | (220,422) |
| CASH FLOWS FROM (FOR) FINANCING ACTIVITIES | |||
| Net borrowings on revolving credit loans | (43,000) | 315,000 | — |
| Term debt borrowings | 500,000 | 1,000,000 | — |
| Term debt payments | (13,778) | (5,000) | — |
| Note payments | (200,000) | (1,056,867) | — |
| Repurchase of limited partnership units | — | — | (77,272) |
| Distributions paid to partners | — | (30,764) | (61,106) |
| Payment of debt issuance costs | (5,007) | (42,480) | (2,643) |
| Payments related to tax withholding for equity compensation | (25,384) | (7,304) | (2,865) |
| Purchase of redeemable non-controlling interests | (7,794) | — | — |
| Distributions to non-controlling interests | (49,632) | (48,997) | — |
| Other | — | (5,615) | 885 |
| Net cash from (for) financing activities | 155,405 | 117,973 | (143,001) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 4,753 | (1,083) | 2,047 |
| Net increase (decrease) for the year | 7,960 | 17,686 | (35,701) |
| Balance, beginning of year | 83,174 | 65,488 | 101,189 |
| Balance, end of year | $91,134 | $83,174 | $65,488 |
| SUPPLEMENTAL INFORMATION | |||
| Cash payments for interest | $335,002 | $247,341 | $135,714 |
| Interest capitalized | 9,883 | 5,382 | 4,296 |
| Cash payments for income taxes, net of refunds | 34,878 | 65,058 | 44,976 |
| Capital expenditures in accounts payable | 7,960 | 28,981 | 13,438 |
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