2013 Q2 Form 10-Q Financial Statement

#000119312513327904 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $3.243B $2.582B
YoY Change 25.6% 10.1%
Cost Of Revenue $1.773B $1.426B
YoY Change 24.32% 18.52%
Gross Profit $1.470B $1.156B
YoY Change 27.18% 1.23%
Gross Profit Margin 45.33% 44.77%
Selling, General & Admin $307.9M $259.0M
YoY Change 18.85% -15.79%
% of Gross Profit 20.94% 22.41%
Research & Development $6.002M $6.797M
YoY Change -11.7% 183.21%
% of Gross Profit 0.41% 0.59%
Depreciation & Amortization $261.2M $220.5M
YoY Change 18.46% 6.94%
% of Gross Profit 17.77% 19.08%
Operating Expenses $313.9M $265.8M
YoY Change 18.07% -49.49%
Operating Profit $780.6M $397.7M
YoY Change 96.28% -34.6%
Interest Expense $68.38M $64.53M
YoY Change 5.96% -196.9%
% of Operating Profit 8.76% 16.23%
Other Income/Expense, Net $3.893M $1.782M
YoY Change 118.46% -6.21%
Pretax Income $719.4M $325.5M
YoY Change 121.04% -40.12%
Income Tax $47.72M $39.09M
% Of Pretax Income 6.63% 12.01%
Net Earnings $529.8M $240.6M
YoY Change 120.19% -41.41%
Net Earnings / Revenue 16.34% 9.32%
Basic Earnings Per Share $0.64 $0.29
Diluted Earnings Per Share $0.64 $0.29
COMMON SHARES
Basic Shares Outstanding 824.0M shares 821.1M shares
Diluted Shares Outstanding 827.9M shares 826.1M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.514B $3.522B
YoY Change -28.62% 1.24%
Cash & Equivalents $2.514B $3.522B
Short-Term Investments
Other Short-Term Assets $106.0M $101.0M
YoY Change 4.95% -57.56%
Inventory $41.23M $41.00M
Prepaid Expenses
Receivables $1.803B $1.562B
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.465B $5.226B
YoY Change -14.55% 10.7%
LONG-TERM ASSETS
Property, Plant & Equipment $15.44B $16.72B
YoY Change -7.67% 2.36%
Goodwill
YoY Change
Intangibles $109.7M
YoY Change
Long-Term Investments
YoY Change
Other Assets $118.3M $397.0M
YoY Change -70.19% -33.39%
Total Long-Term Assets $17.32B $17.19B
YoY Change 0.74% 1.03%
TOTAL ASSETS
Total Short-Term Assets $4.465B $5.226B
Total Long-Term Assets $17.32B $17.19B
Total Assets $21.78B $22.42B
YoY Change -2.82% 3.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $121.0M $134.0M
YoY Change -9.68% 44.09%
Accrued Expenses $2.018B $1.558B
YoY Change 29.53% 35.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $980.0M $98.00M
YoY Change 900.0% -90.87%
Total Short-Term Liabilities $3.575B $2.249B
YoY Change 58.98% -17.89%
LONG-TERM LIABILITIES
Long-Term Debt $8.511B $9.276B
YoY Change -8.25% 3.24%
Other Long-Term Liabilities $141.1M $550.0M
YoY Change -74.34% 7.42%
Total Long-Term Liabilities $141.1M $9.826B
YoY Change -98.56% 3.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.575B $2.249B
Total Long-Term Liabilities $141.1M $9.826B
Total Liabilities $12.83B $13.59B
YoY Change -5.6% -1.46%
SHAREHOLDERS EQUITY
Retained Earnings $1.085B
YoY Change
Common Stock $825.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $46.56M
YoY Change
Treasury Stock Shares 883.0K shares
Shareholders Equity $7.500B $8.829B
YoY Change
Total Liabilities & Shareholders Equity $21.78B $22.42B
YoY Change -2.82% 3.13%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $529.8M $240.6M
YoY Change 120.19% -41.41%
Depreciation, Depletion And Amortization $261.2M $220.5M
YoY Change 18.46% 6.94%
Cash From Operating Activities $1.139B $750.8M
YoY Change 51.66% 13.23%
INVESTING ACTIVITIES
Capital Expenditures -$242.7M -$337.2M
YoY Change -28.02% -13.2%
Acquisitions
YoY Change
Other Investing Activities $1.100M $400.0K
YoY Change 175.0% -99.82%
Cash From Investing Activities -$241.6M -$336.8M
YoY Change -28.27% 97.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -756.5M -933.6M
YoY Change -18.97% 493.89%
NET CHANGE
Cash From Operating Activities 1.139B 750.8M
Cash From Investing Activities -241.6M -336.8M
Cash From Financing Activities -756.5M -933.6M
Net Change In Cash 140.6M -519.6M
YoY Change -127.06% -254.87%
FREE CASH FLOW
Cash From Operating Activities $1.139B $750.8M
Capital Expenditures -$242.7M -$337.2M
Free Cash Flow $1.381B $1.088B
YoY Change 26.97% 3.46%

Facts In Submission

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StockOptionPlanExpense
7057000
CY2013Q2 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
600000
CY2013Q2 us-gaap Costs And Expenses
CostsAndExpenses
2462300000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
143034000
CY2013Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
4834000
CY2013Q2 us-gaap Casino Expenses
CasinoExpenses
1519721000
CY2013Q2 us-gaap Promotional Allowances
PromotionalAllowances
161632000
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
11891000
CY2013Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
62058000
CY2013Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
251048000
CY2013Q2 us-gaap Interest Expense
InterestExpense
68376000
CY2013Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
6002000
CY2013Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
92000
CY2013Q2 us-gaap Pre Opening Costs
PreOpeningCosts
1031000
CY2013Q2 us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
89294000
CY2013Q2 us-gaap Occupancy Costs
OccupancyCosts
65685000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
307869000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
47721000
CY2013Q2 lvs Share Based Compensation Expense Segment
ShareBasedCompensationExpenseSegment
6847000
CY2013Q2 lvs Adjusted Property Ebitda
AdjustedPropertyEbitda
1106920000
CY2013Q2 lvs Gross Revenue
GrossRevenue
3404573000
CY2013Q2 lvs Mall Revenue
MallRevenue
107993000
CY2013Q2 lvs Internal Costs Capitalized
InternalCostsCapitalized
5300000
CY2013Q2 lvs Convention Retail And Other Expense
ConventionRetailAndOtherExpense
80094000
CY2013Q2 lvs Amortization Of Leasehold Interests In Land
AmortizationOfLeaseholdInterestsInLand
10108000
CY2013Q2 lvs Corporate Expense
CorporateExpense
46481000
CY2013Q2 lvs Mall Expense
MallExpense
18147000
CY2013Q2 lvs Convention Retail And Other
ConventionRetailAndOther
123050000

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