$PRKS
United Parks & Resorts Inc.

2013 Q4 Form 10-Q Financial Statement

#000119312513440523 Filed on November 14, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $272.0M $538.4M $522.3M
YoY Change 3.34% 3.09%
Cost Of Revenue $190.4M $243.0M $234.8M
YoY Change 167.04% 3.49%
Gross Profit $81.60M $295.3M $287.4M
YoY Change -57.46% 2.75%
Gross Profit Margin 30.0% 54.85% 55.03%
Selling, General & Admin $37.70M $47.43M $58.81M
YoY Change 9.91% -19.35%
% of Gross Profit 46.2% 16.06% 20.46%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $41.90M $42.40M -$62.50M
YoY Change -72.47% -167.84% -549.64%
% of Gross Profit 51.35% 14.36% -21.75%
Operating Expenses $81.10M $47.43M $58.81M
YoY Change -59.43% -19.35%
Operating Profit $505.0K $205.6M $183.9M
YoY Change -126.86% 11.82%
Interest Expense -$20.20M $20.21M $29.55M
YoY Change -16.87% -31.59%
% of Operating Profit -4000.0% 9.83% 16.07%
Other Income/Expense, Net $0.00 $13.00K $237.0K
YoY Change -100.0% -94.51%
Pretax Income -$19.60M $185.4M $154.6M
YoY Change -40.43% 19.96%
Income Tax -$6.700M $64.66M $62.30M
% Of Pretax Income 34.87% 40.31%
Net Earnings -$12.97M $120.7M $92.26M
YoY Change 47.39% 30.87%
Net Earnings / Revenue -4.77% 22.43% 17.67%
Basic Earnings Per Share -$0.14 $1.35 $1.12
Diluted Earnings Per Share -$0.14 $1.34 $1.11
COMMON SHARES
Basic Shares Outstanding 93.29M shares 89.61M shares 82.46M shares
Diluted Shares Outstanding 90.21M shares 83.37M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.8M $210.5M $142.8M
YoY Change 155.58% 47.41%
Cash & Equivalents $116.8M $210.5M $142.8M
Short-Term Investments
Other Short-Term Assets $4.378M $15.50M $21.50M
YoY Change 25.26% -27.91%
Inventory $36.21M $37.89M $36.60M
Prepaid Expenses
Receivables $41.51M $52.51M $52.10M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $243.1M $316.4M $253.0M
YoY Change 53.22% 25.06%
LONG-TERM ASSETS
Property, Plant & Equipment $1.772B $1.771B $1.782B
YoY Change -0.18% -0.58%
Goodwill $335.6M $335.6M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $35.89M $42.37M $44.60M
YoY Change -28.34% -5.0%
Total Long-Term Assets $2.334B $2.342B $2.358B
YoY Change -1.19% -0.7%
TOTAL ASSETS
Total Short-Term Assets $243.1M $316.4M $253.0M
Total Long-Term Assets $2.334B $2.342B $2.358B
Total Assets $2.577B $2.658B $2.611B
YoY Change 2.24% 1.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $98.50M $105.9M $134.5M
YoY Change 9.76% -21.29%
Accrued Expenses $15.26M $31.05M $52.80M
YoY Change -21.12% -41.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $14.05M $14.05M $21.30M
YoY Change -34.13% -34.04%
Total Short-Term Liabilities $252.7M $271.8M $304.3M
YoY Change 2.6% -10.68%
LONG-TERM LIABILITIES
Long-Term Debt $1.633B $1.629B $1.806B
YoY Change -9.44% -9.79%
Other Long-Term Liabilities $18.49M $18.63M $42.20M
YoY Change -17.02% -55.86%
Total Long-Term Liabilities $1.651B $1.648B $1.849B
YoY Change -9.53% -10.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $252.7M $271.8M $304.3M
Total Long-Term Liabilities $1.651B $1.648B $1.849B
Total Liabilities $1.929B $1.929B $2.153B
YoY Change -6.85% -10.4%
SHAREHOLDERS EQUITY
Retained Earnings $1.886M $39.27M
YoY Change -128.37%
Common Stock $690.3M $896.0K
YoY Change 83369.53%
Preferred Stock
YoY Change
Treasury Stock (at cost) $44.16M
YoY Change
Treasury Stock Shares 1.500M shares
Shareholders Equity $648.0M $729.3M $458.4M
YoY Change
Total Liabilities & Shareholders Equity $2.577B $2.658B $2.611B
YoY Change 2.24% 1.8%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$12.97M $120.7M $92.26M
YoY Change 47.39% 30.87%
Depreciation, Depletion And Amortization $41.90M $42.40M -$62.50M
YoY Change -72.47% -167.84% -549.64%
Cash From Operating Activities $16.80M $175.3M $161.7M
YoY Change 1766.67% 8.41% -40.51%
INVESTING ACTIVITIES
Capital Expenditures -$40.40M -$37.90M -$39.40M
YoY Change 10.08% -3.81% -75.92%
Acquisitions
YoY Change
Other Investing Activities -$100.0K $200.0K
YoY Change -99.21%
Cash From Investing Activities -$40.60M -$37.50M -$39.40M
YoY Change -17.65% -4.82% -75.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -70.00M -21.10M -77.30M
YoY Change 43.74% -72.7% -39.51%
NET CHANGE
Cash From Operating Activities 16.80M 175.3M 161.7M
Cash From Investing Activities -40.60M -37.50M -39.40M
Cash From Financing Activities -70.00M -21.10M -77.30M
Net Change In Cash -93.80M 116.7M 45.00M
YoY Change -3.4% 159.33% -329.59%
FREE CASH FLOW
Cash From Operating Activities $16.80M $175.3M $161.7M
Capital Expenditures -$40.40M -$37.90M -$39.40M
Free Cash Flow $57.20M $213.2M $201.1M
YoY Change 52.13% 6.02% -53.81%

Facts In Submission

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dei Trading Symbol
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dei Entity Registrant Name
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<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions include, but are not limited to, the accounting for self-insurance, deferred tax assets, deferred revenue, equity compensation and the valuation of goodwill and other indefinite-lived intangible assets. Actual results could differ from those estimates.</font></p> </div>
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