2020 Q4 Form 10-Q Financial Statement

#000157596520000050 Filed on October 28, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $300.2M $307.6M $287.6M
YoY Change 3.88% 6.93% 13.17%
Cost Of Revenue $24.30M $18.18M $27.60M
YoY Change -9.33% -34.15% -37.7%
Gross Profit $275.9M $289.4M $260.0M
YoY Change 5.23% 11.3% 23.93%
Gross Profit Margin 91.91% 94.09% 90.4%
Selling, General & Admin $17.30M $15.70M $15.00M
YoY Change 0.58% 4.67% 0.0%
% of Gross Profit 6.27% 5.43% 5.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.00M $58.08M $57.30M
YoY Change 4.06% 1.36% 110.15%
% of Gross Profit 21.38% 20.07% 22.04%
Operating Expenses $76.30M $106.9M $99.99M
YoY Change 3.25% 6.87% 11.96%
Operating Profit $199.6M $200.7M $187.6M
YoY Change 6.03% 6.97% 13.83%
Interest Expense -$70.40M $70.18M $75.11M
YoY Change -3.56% -6.57% 24.48%
% of Operating Profit -35.27% 34.97% 40.03%
Other Income/Expense, Net -$70.94M -$95.89M
YoY Change -26.02% 62.74%
Pretax Income $171.1M $129.8M $91.74M
YoY Change 48.4% 41.46% -13.38%
Income Tax $1.800M $2.639M $1.188M
% Of Pretax Income 1.05% 2.03% 1.3%
Net Earnings $169.3M $127.1M $96.89M
YoY Change 48.13% 31.2% 4.18%
Net Earnings / Revenue 56.4% 41.33% 33.69%
Basic Earnings Per Share $0.58 $0.42
Diluted Earnings Per Share $767.5K $0.58 $0.42
COMMON SHARES
Basic Shares Outstanding 220.7M shares 218.0M shares 214.7M shares
Diluted Shares Outstanding 218.8M shares 215.3M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $486.5M $105.9M $25.60M
YoY Change 1715.3% 313.67% -97.8%
Cash & Equivalents $486.5M $105.9M $25.56M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $486.5M $105.9M $25.60M
YoY Change 1715.3% 313.67% -97.8%
LONG-TERM ASSETS
Property, Plant & Equipment $80.62M $89.32M $95.62M
YoY Change -14.31% -6.59% -6.65%
Goodwill $0.00 $16.07M $16.07M
YoY Change -100.0% 0.0% -78.73%
Intangibles $0.00 $9.577M $9.577M
YoY Change -100.0% 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $687.1M $653.5M $666.2M
YoY Change 3.32% -1.91% 2.97%
Total Long-Term Assets $8.548B $8.531B $8.479B
YoY Change 1.67% 0.61% 18.87%
TOTAL ASSETS
Total Short-Term Assets $486.5M $105.9M $25.60M
Total Long-Term Assets $8.548B $8.531B $8.479B
Total Assets $9.034B $8.637B $8.505B
YoY Change 7.11% 1.55% 2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $800.0K $200.0K
YoY Change -60.0% 300.0% -89.47%
Accrued Expenses $230.7M $274.7M $302.9M
YoY Change -12.84% -9.31% 161.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $231.1M $275.5M $303.1M
YoY Change -13.02% -9.11% 157.52%
LONG-TERM LIABILITIES
Long-Term Debt $5.755B $5.752B $5.749B
YoY Change 0.29% 0.06% 5.51%
Other Long-Term Liabilities $373.2M $399.6M $345.7M
YoY Change 4.8% 15.59% -6.67%
Total Long-Term Liabilities $6.128B $6.152B $6.095B
YoY Change 0.55% 0.94% 4.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $231.1M $275.5M $303.1M
Total Long-Term Liabilities $6.128B $6.152B $6.095B
Total Liabilities $6.359B $6.428B $6.398B
YoY Change -0.01% 0.46% 7.76%
SHAREHOLDERS EQUITY
Retained Earnings -$1.612B -$1.754B -$1.851B
YoY Change -14.58% -5.26% 16.48%
Common Stock $4.287B $3.963B $3.958B
YoY Change 8.22% 0.14% 0.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.675B $2.209B $2.012B
YoY Change
Total Liabilities & Shareholders Equity $9.034B $8.637B $8.505B
YoY Change 7.11% 1.55% 2.52%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $169.3M $127.1M $96.89M
YoY Change 48.13% 31.2% 4.18%
Depreciation, Depletion And Amortization $59.00M $58.08M $57.30M
YoY Change 4.06% 1.36% 110.15%
Cash From Operating Activities $95.40M $80.80M $219.6M
YoY Change -42.74% -63.21% 3.29%
INVESTING ACTIVITIES
Capital Expenditures -$7.900M -$500.0K $0.00
YoY Change 1028.57% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$7.900M -$500.0K -$600.0K
YoY Change 887.5% -16.67% -89.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 293.0M -48.40M -218.1M
YoY Change -278.12% -77.81% -126.88%
NET CHANGE
Cash From Operating Activities 95.40M 80.80M 219.6M
Cash From Investing Activities -7.900M -500.0K -600.0K
Cash From Financing Activities 293.0M -48.40M -218.1M
Net Change In Cash 380.5M $79.07M 900.0K
YoY Change 29169.23% 8685.67% -99.91%
FREE CASH FLOW
Cash From Operating Activities $95.40M $80.80M $219.6M
Capital Expenditures -$7.900M -$500.0K $0.00
Free Cash Flow $103.3M $81.30M $219.6M
YoY Change -38.25% -62.98% 3.3%

Facts In Submission

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CY2019Q1 us-gaap Dividends
Dividends
146202000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
93010000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
2207684000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
4182000 USD
CY2019Q2 us-gaap Dividends
Dividends
146212000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
93033000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
2158687000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
CY2019Q3 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
3845000 USD
CY2019Q3 us-gaap Dividends
Dividends
146208000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
90547000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
2106632000 USD
us-gaap Net Income Loss
NetIncomeLoss
336370000 USD
us-gaap Net Income Loss
NetIncomeLoss
276590000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
181094000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
199261000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
8032000 USD
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
8597000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
3000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-50000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-84000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-528000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
16652000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
12353000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
5394000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
25930000 USD
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
272529000 USD
us-gaap Deferred Revenue Revenue Recognized1
DeferredRevenueRevenueRecognized1
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-18113000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-21014000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
13000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1363000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2123000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-164000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2345000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
84000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
780000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
22470000 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
39195000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-9404000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-6795000 USD
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-175000 USD
us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
47000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
26000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
3292000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1340000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
310531000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
583686000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1629000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
2256000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
15000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
210000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1614000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2046000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
202877000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
438622000 USD
glpi Proceeds Repayments Relatedto Tax Withholding On Restricted Stock Award Vestings Netof Proceedsfrom Exerciseof Options
ProceedsRepaymentsRelatedtoTaxWithholdingOnRestrictedStockAwardVestingsNetofProceedsfromExerciseofOptions
-15291000 USD
glpi Proceeds Repayments Relatedto Tax Withholding On Restricted Stock Award Vestings Netof Proceedsfrom Exerciseof Options
ProceedsRepaymentsRelatedtoTaxWithholdingOnRestrictedStockAwardVestingsNetofProceedsfromExerciseofOptions
-9057000 USD
glpi Atm Programofferingcosts
ATMProgramofferingcosts
-177000 USD
glpi Atm Programofferingcosts
ATMProgramofferingcosts
239000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2076383000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1312853000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
11641000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
10005000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2060850000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1417918000 USD
glpi Paymentsof Premiumand Related Costson Tenderof Senior Unsecured Notes
PaymentsofPremiumandRelatedCostsonTenderofSeniorUnsecuredNotes
15747000 USD
glpi Paymentsof Premiumand Related Costson Tenderof Senior Unsecured Notes
PaymentsofPremiumandRelatedCostsonTenderofSeniorUnsecuredNotes
18879000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-229846000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-581867000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
79071000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-227000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26823000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25783000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105894000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25556000 USD
us-gaap Nature Of Operations
NatureOfOperations
Business and Operations<div><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;"> </span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Gaming and Leisure Properties, Inc. ("GLPI") is a self-administered and self-managed Pennsylvania real estate investment trust ("REIT"). GLPI (together with its subsidiaries, the "Company") was incorporated on February 13, 2013, as a wholly-owned subsidiary of Penn National Gaming, Inc. (NASDAQ: PENN) ("Penn"). On November 1, 2013, Penn contributed to GLPI, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with Penn’s real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville (which are referred to as the "TRS Properties"), and then spun-off GLPI to holders of Penn's common and preferred stock in a tax-free distribution (the "Spin-Off"). The assets and liabilities of GLPI were recorded at their respective historical carrying values at the time of the Spin-Off in accordance with the provisions of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 505-60 - </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Spinoffs and Reverse Spinoffs.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company elected on its United States ("U.S.") federal income tax return for its taxable year that began on January 1, 2014 to be treated as a REIT and GLPI, together with its indirect wholly-owned subsidiary, GLP Holdings, Inc., jointly elected to treat each of GLP Holdings, Inc., Louisiana Casino Cruises, Inc. (d/b/a Hollywood Casino Baton Rouge) and Penn Cecil Maryland, Inc. (d/b/a Hollywood Casino Perryville) as a "taxable REIT subsidiary" ("TRS") effective on the first day of the first taxable year of GLPI as a REIT. In connection with the Spin-Off, Penn allocated its accumulated earnings and profits (as determined for U.S. federal income tax purposes) for periods prior to the consummation of the Spin-Off between Penn and GLPI. In connection with its election to be taxed as a REIT for U.S. federal income tax purposes, GLPI declared a special dividend to its shareholders to distribute any accumulated earnings and profits relating to the real property assets and attributable to any pre-REIT years, including any earnings and profits allocated to GLPI in connection with the Spin-Off, to comply with certain REIT qualification requirements.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">As a result of the Spin-Off, GLPI owns substantially all of Penn’s former real property assets (as of the consummation of the Spin-Off) and leases back most of those assets to Penn for use by its subsidiaries, under a unitary master lease, a triple-net operating lease with an initial term of 15 years (expiring October 31, 2028), with no purchase option, followed by four 5-year renewal options (exercisable by Penn) on the same terms and conditions (the "Penn Master Lease"), and GLPI also owns and operates the TRS Properties through an indirect wholly-owned subsidiary, GLP Holdings, Inc. In April 2016, the Company acquired substantially all of the real estate assets of Pinnacle Entertainment, Inc. ("Pinnacle") for approximately $4.8 billion. GLPI originally leased these assets back to Pinnacle, under a unitary triple-net lease with an initial term of 10 years (expiring April 30, 2026), with no purchase option, followed by five 5-year renewal options (exercisable by Pinnacle) on the same terms and conditions (the "Pinnacle Master Lease"). On October 15, 2018, the Company completed its previously announced transactions with Penn, Pinnacle and Boyd Gaming Corporation (NYSE: BYD) ("Boyd") to accommodate Penn's acquisition of the majority of Pinnacle's operations, pursuant to a definitive agreement and plan of merger between Penn and Pinnacle, dated December 17, 2017 (the "Penn-Pinnacle Merger"). Concurrent with the Penn-Pinnacle Merger, the Company amended the Pinnacle Master Lease to allow for the sale of the operating assets of Ameristar Casino Hotel Kansas City, Ameristar Casino Resort Spa St. Charles and Belterra Casino Resort from Pinnacle to Boyd (the "Amended Pinnacle Master Lease") and entered into a new unitary triple-net master lease agreement with Boyd (the "Boyd Master Lease") for these properties on terms similar to the Company’s Amended Pinnacle Master Lease. The Boyd Master Lease has an initial term of 10 years (from the original April 2016 commencement date of the Pinnacle Master Lease and expiring April 30, 2026), with no purchase option, followed by five 5-year renewal options (exercisable by Boyd) on the same terms and conditions. The Company also purchased the real estate assets of Plainridge Park Casino ("Plainridge Park") from Penn for $250.0 million, exclusive of transaction fees and taxes, and added this property to the Amended Pinnacle Master Lease. The Amended Pinnacle Master Lease was assumed by Penn at the consummation of the Penn-Pinnacle Merger. The Company also entered into a mortgage loan agreement with Boyd in connection with Boyd's acquisition of Belterra Park Gaming &amp; Entertainment Center ("Belterra Park"), whereby the Company loaned Boyd $57.7 million. In May 2020, the Company acquired the real estate of Belterra Park in satisfaction of the loan, subject to a long-term lease (the "Belterra Park Lease") with a Boyd affiliate operating the property. The Belterra Park Lease has an initial term that expires on April 30, 2026 and has 5 separate renewal options for five years each, exercisable at the tenants' option. See Note 12 for further details. </span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">In addition to the acquisition of Plainridge Park described above, on October 1, 2018, the Company closed its previously announced transaction to acquire certain real property assets from Tropicana Entertainment Inc. ("Tropicana") and certain of its affiliates pursuant to a Purchase and Sale Agreement dated April 15, 2018 between Tropicana and GLP Capital L.P., the operating partnership of GLPI ("GLP Capital"), which was subsequently amended on October 1, 2018 (as amended, </span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">the "Amended Real Estate Purchase Agreement"). Pursuant to the terms of the Amended Real Estate Purchase Agreement, the Company acquired the real estate assets of Tropicana Atlantic City, Tropicana Evansville, Tropicana Laughlin, Trop Casino Greenville and the Belle of Baton Rouge (the "GLP Assets") from Tropicana for an aggregate cash purchase price of $964.0 million, exclusive of transaction fees and taxes (the "Tropicana Acquisition"). Concurrent with the Tropicana Acquisition, Eldorado Resorts, Inc. (now doing business as Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars")), acquired the operating assets of these properties from Tropicana pursuant to an Agreement and Plan of Merger dated April 15, 2018 by and among Tropicana, GLP Capital, Eldorado Resorts, Inc. and a wholly-owned subsidiary of Eldorado Resorts, Inc. and leased the GLP Assets from the Company pursuant to the terms of a new unitary triple-net master lease with an initial term of 15 years, with no purchase option, followed by four successive 5-year renewal periods (exercisable by the tenant) on the same terms and conditions (the "Caesars Master Lease"). On June 15, 2020, the Company amended the Caesars Master Lease subject to certain regulatory approvals which were received on July 23, 2020. See Note 12 for a description of this amendment. </span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Additionally, on October 1, 2018, the Company made a loan to Caesars in the amount of $246.0 million (the "CZR loan") in connection with Caesars acquisition of Lumière Place Casino and Hotel ("Lumière Place") (and together with the Tropicana Acquisition, the "Tropicana Transactions"). The CZR loan bore interest at a rate equal to (i) 9.09% until October 1, 2019 and (ii) 9.27% until its maturity. On the one-year anniversary of the CZR loan, the mortgage evidenced by a deed of trust on the Lumière Place property terminated and the loan became unsecured. On June 24, 2020, the Company received approval from the Missouri Gaming Commission to own the Lumière Place real estate in satisfaction for the CZR loan. The Company closed this transaction on September 29, 2020 and entered into a new triple net lease for this asset whose initial term expires October 31, 2033, with no purchase option, followed by four successive 5-year renewal periods (exercisable by the tenant) on the same terms and conditions (the "Lumière Place Lease"). </span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">On April 16, 2020, the Company and certain of its subsidiaries acquired the real property associated with the Tropicana Las Vegas Casino Hotel Resort ("Tropicana Las Vegas") from Penn in exchange for $307.5 million of rent credits to be applied against future rent obligations. This asset has been placed in our TRS subsidiary. See Note 6 for further details related to this transaction.</span></div><div style="text-indent:36pt;text-align:justify;"><span><br/></span></div><div style="text-indent:36pt;text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. As of September 30, 2020, GLPI’s portfolio consisted of interests in 46 gaming and related facilities, including the TRS Properties and Tropicana Las Vegas, the real property associated with 32 gaming and related facilities operated by Penn, the real property associated with 6 gaming and related facilities operated by Caesars, the real property associated with 4 gaming and related facilities operated by Boyd and the real property associated with the Casino Queen in East St. Louis, Illinois.  These facilities are geographically diversified across 16 states, contain approximately 24.1 million square feet and were 100% occupied at September 30, 2020. </span></div>In the first quarter of 2020, it became clear that there was a global outbreak of a new strain of novel coronavirus COVID-19 ("COVID-19"). The global, domestic and local response to the COVID-19 outbreak continues to evolve rapidly. Thus far, responses to the COVID-19 outbreak have included mandates from federal, state and/or local authorities that required temporary closures of or imposed limitations on the operations of non-essential businesses. All of the Company's tenants' casino operations, in addition to the Company's two TRS Properties, were closed in mid-March. Our properties began reopening at limited capacity in May and by early July nearly all had resumed operations at limited capacity. As of the date of this filing, the only property that had not reopened was Zia Park Casino in the Penn Master Lease.
CY2020Q3 glpi Number Of Facilities Whose Real Estate Property Is Included In Entity Portfolio
NumberOfFacilitiesWhoseRealEstatePropertyIsIncludedInEntityPortfolio
46 property
CY2020Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
16 state
CY2020Q3 glpi Realestateoccupancypercentage
Realestateoccupancypercentage
1
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
43 property
CY2020Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8605180000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8301496000 USD
CY2020Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1364869000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1200941000 USD
CY2020Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7240311000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7100555000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
259531000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
266282000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
170212000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
172202000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
89319000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
94080000 USD
CY2020Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
226200000 USD
CY2020Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
81300000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
828130000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
838734000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3440000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
13759000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13707000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13638000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13617000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
644059000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
702220000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
519754000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
182466000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3458000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3909000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
10625000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
11722000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
2319000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
2461000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1651000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
6823000 USD
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
203000 USD
CY2019Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
254000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
425000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
765000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3021000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3020000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9061000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15516000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
8333000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
9502000 USD
us-gaap Lease Cost
LeaseCost
22572000 USD
us-gaap Lease Cost
LeaseCost
34826000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y14D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
436000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1373000 USD
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
197000 USD
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
893000 USD
CY2019Q4 us-gaap Capital Lease Obligations
CapitalLeaseObligations
989000 USD
CY2020Q3 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
5799912000 USD
CY2019Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
5786163000 USD
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
47660000 USD
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
48201000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
5752252000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
5737962000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
134000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Years Two And Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearsTwoAndThree
424307000 USD
CY2020Q3 us-gaap Longterm Debt And Capital Lease Obligations Maturities Repayments Of Principal In Years Four And Five
LongtermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearsFourAndFive
1750316000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
3625155000 USD
CY2020Q3 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
5799912000 USD
CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 USD
CY2020Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
1174600000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
5394000 USD
CY2020Q3 glpi Operating Lease Cash Rent Received
OperatingLeaseCashRentReceived
258117000 USD
glpi Operating Lease Cash Rent Received
OperatingLeaseCashRentReceived
756705000 USD
CY2020Q3 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-4928000 USD
CY2020Q3 glpi Straight Line Rent Adjustmentsin Three Years
StraightLineRentAdjustmentsinThreeYears
22124000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Three Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInThreeYears
12051000 USD
CY2020Q3 glpi Operating Lease Ground Lease Income
OperatingLeaseGroundLeaseIncome
4476000 USD
glpi Operating Lease Ground Lease Income
OperatingLeaseGroundLeaseIncome
11239000 USD
CY2020Q3 glpi Operating Lease Other Rental Revenue
OperatingLeaseOtherRentalRevenue
34000 USD
glpi Operating Lease Other Rental Revenue
OperatingLeaseOtherRentalRevenue
161000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
267555000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
762711000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
253693000 USD
CY2020Q3 glpi Straight Line Rent Adjustments Current
StraightLineRentAdjustmentsCurrent
814000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable Current
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableCurrent
3010000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognized Current
OperatingLeasesFutureIncometoBeRecognizedCurrent
257517000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
1014961000 USD
CY2020Q3 glpi Straight Line Rent Adjustmentsin Two Years
StraightLineRentAdjustmentsinTwoYears
3255000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Two Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInTwoYears
12045000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognizedin Two Years
OperatingLeasesFutureIncometoBeRecognizedinTwoYears
1030261000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
987266000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognizedin Three Years
OperatingLeasesFutureIncometoBeRecognizedinThreeYears
1021441000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
961807000 USD
CY2020Q3 glpi Straight Line Rent Adjustmentsin Four Years
StraightLineRentAdjustmentsinFourYears
30877000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Four Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFourYears
12057000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognizedin Four Years
OperatingLeasesFutureIncometoBeRecognizedinFourYears
1004741000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
929486000 USD
CY2020Q3 glpi Straight Line Rent Adjustmentsin Five Years
StraightLineRentAdjustmentsinFiveYears
30008000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Five Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFiveYears
12063000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognizedin Five Years
OperatingLeasesFutureIncometoBeRecognizedinFiveYears
971557000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
13411936000 USD
CY2020Q3 glpi Straight Line Rent Adjustments Thereafter
StraightLineRentAdjustmentsThereafter
246801000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable Thereafter
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableThereafter
123028000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognized Thereafter
OperatingLeasesFutureIncometoBeRecognizedThereafter
13781765000 USD
CY2020Q3 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
17559149000 USD
CY2020Q3 glpi Straight Line Rent Adjustments Net
StraightLineRentAdjustmentsNet
333879000 USD
CY2020Q3 glpi Operating Leases Future Minimum Base Ground Payments Receivable
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivable
174254000 USD
CY2020Q3 glpi Operating Leases Future Incometo Be Recognized
OperatingLeasesFutureIncometoBeRecognized
18067282000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218042000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214683000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216140000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214658000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218847000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215325000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216912000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215218000 shares
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
127126000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
90547000 USD
us-gaap Net Income Loss
NetIncomeLoss
336370000 USD
us-gaap Net Income Loss
NetIncomeLoss
276590000 USD
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
152000 USD
CY2019Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
138000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
406000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
420000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
126974000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
90409000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
335964000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
276170000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218042000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214683000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
216140000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214658000 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
127126000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
90547000 USD
us-gaap Net Income Loss
NetIncomeLoss
336370000 USD
us-gaap Net Income Loss
NetIncomeLoss
276590000 USD
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
218847000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215325000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
216912000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215218000 shares
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.55
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.29
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6892 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38459 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
57494 shares
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.70
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
150574000 USD
CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
CY2019Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
129071000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
CY2019Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
130697000 USD
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.68
CY2018Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
145954000 USD
CY2018Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.68
CY2018Q2 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
145978000 USD
CY2018Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.68
CY2018Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
145984000 USD
CY2020Q3 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
200000 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
600000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
CY2020Q3 us-gaap Revenues
Revenues
307554000 USD
CY2019Q3 us-gaap Revenues
Revenues
287612000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
200701000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
187625000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
70179000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
75111000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
129765000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
91735000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2639000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1188000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
127126000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
90547000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
58080000 USD
CY2019Q3 us-gaap Depreciation
Depreciation
57302000 USD
CY2020Q3 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
488000 USD
CY2019Q3 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
709000 USD
us-gaap Revenues
Revenues
853004000 USD
us-gaap Revenues
Revenues
864489000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
567767000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
529167000 USD
us-gaap Interest Expense
InterestExpense
211657000 USD
us-gaap Interest Expense
InterestExpense
228362000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
338488000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
280363000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2118000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3773000 USD
us-gaap Net Income Loss
NetIncomeLoss
336370000 USD
us-gaap Net Income Loss
NetIncomeLoss
276590000 USD
us-gaap Depreciation
Depreciation
172033000 USD
us-gaap Depreciation
Depreciation
183745000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
1629000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
2256000 USD
CY2020Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1945000 USD
CY2019Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1418000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1054000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4102000 USD
CY2020Q3 us-gaap Interest Paid Net
InterestPaidNet
43647000 USD
CY2019Q3 us-gaap Interest Paid Net
InterestPaidNet
41163000 USD
us-gaap Interest Paid Net
InterestPaidNet
182257000 USD
us-gaap Interest Paid Net
InterestPaidNet
180494000 USD

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