v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Cash flows from operating activities:    
Net income $ 194,203 $ 148,181
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 96,319 91,576
Write-downs and other, net 181 216
Amortization of debt discount and debt issuance costs 3,519 3,961
Share-based compensation 16,347 17,681
Loss on extinguishment/modification of debt 0 3,092
Change in fair value of derivative instruments 7,499 1,923
Gain on Native American Development (8,476) 0
Deferred income tax (21) (7,591)
Changes in assets and liabilities:    
Receivables, net (3,806) (3,843)
Inventories and prepaid expenses (7,365) (8,633)
Accounts payable (2,225) (2,796)
Accrued interest payable (3,591) 20,067
Income tax receivable/ payable 8,358 7,297
Other accrued liabilities (4,558) (2,375)
Other, net (11,717) 247
Net cash provided by operating activities 284,667 269,003
Cash flows from investing activities:    
Capital expenditures, net of related payables (146,406) (176,667)
Payments to Acquire Land 1,639 1,944
Proceeds from repayment of Native American development costs 110,500 0
Native American development costs (34,518) (4,986)
Other, net (398) (1,475)
Net cash used in investing activities (72,461) (185,072)
Cash flows from financing activities:    
Borrowings under credit agreements with original maturity dates greater than three months 270,000 1,946,853
Payments under credit agreements with original maturity dates greater than three months (277,850) (2,322,327)
Proceeds from issuance of 6.625% Senior Notes 0 500,000
Payment of debt issuance costs 0 (23,413)
Distributions to noncontrolling interests (94,930) (79,904)
Payments for Repurchase of Common Stock (30,855) (3,922)
Withholding tax on share-based compensation (5,220) (11,182)
Dividends paid (90,496) (88,855)
Tax Receivable Agreement Liability Amount Paid (1,355) (1,662)
Other, net (682) (656)
Net cash used in financing activities (231,388) (85,068)
Decrease in cash and cash equivalents (19,182) (1,137)
Balance, beginning of period 164,383 137,586
Balance, end of period 145,201 136,449
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]    
Cash and cash equivalents 145,201  
Balance, end of period 145,201 136,449
Supplemental cash flow disclosures:    
Cash paid for interest, net of $827 and $0 capitalized, respectively 101,902 90,672
Capitalized interest 827 0
Income Taxes Paid, Net 20,300 9,600
Non-cash investing and financing activities:    
Capital expenditures incurred but not yet paid 47,256 46,495
Gain on Native American development Cash Flow Impact $ (8,476) $ 0