$PRKS
United Parks & Resorts Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019041802 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $473.7M $483.2M $391.9M
YoY Change -1.97% 10.39% 4.86%
Cost Of Revenue $208.6M $234.8M $222.0M
YoY Change -11.16% 3.53% 1.69%
Gross Profit $265.1M $248.3M $169.9M
YoY Change 6.77% 17.73% 9.33%
Gross Profit Margin 55.97% 51.39% 43.35%
Selling, General & Admin $69.50M $51.50M $71.00M
YoY Change 34.95% -6.02% 2.6%
% of Gross Profit 26.22% 20.74% 41.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.80M $41.20M $40.00M
YoY Change -0.97% -2.37% 1.27%
% of Gross Profit 15.39% 16.59% 23.54%
Operating Expenses $110.3M $92.70M $111.0M
YoY Change 18.99% -4.43% 2.21%
Operating Profit $153.5M $151.7M $55.21M
YoY Change 1.18% 39.43% -124.81%
Interest Expense $21.46M $19.50M -$20.60M
YoY Change 10.07% -196.53% 5.64%
% of Operating Profit 13.98% 12.85% -37.31%
Other Income/Expense, Net $86.00K $59.00K $0.00
YoY Change 45.76% -41.0% -100.0%
Pretax Income $132.2M $132.3M $34.70M
YoY Change -0.1% 48.97% -114.33%
Income Tax $34.12M $36.30M $12.00M
% Of Pretax Income 25.82% 27.44% 34.58%
Net Earnings $98.03M $95.99M $22.70M
YoY Change 2.13% 74.42% -112.91%
Net Earnings / Revenue 20.7% 19.87% 5.79%
Basic Earnings Per Share $1.25 $1.11 $0.26
Diluted Earnings Per Share $1.24 $1.10 $0.26
COMMON SHARES
Basic Shares Outstanding 78.16M 86.62M 86.40M
Diluted Shares Outstanding 78.80M 87.54M 86.89M

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.90M $125.7M $33.50M
YoY Change -59.51% 140.34% -0.89%
Cash & Equivalents $50.92M $127.4M $34.72M
Short-Term Investments
Other Short-Term Assets $14.60M $14.30M $17.30M
YoY Change 2.1% 5.93% -0.57%
Inventory $34.80M $34.80M $39.80M
Prepaid Expenses
Receivables $50.80M $66.80M $72.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $151.0M $241.6M $163.1M
YoY Change -37.5% 63.8% 13.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.864B $1.689B $1.700B
YoY Change 10.4% 0.43% -0.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.30M $42.30M $61.10M
YoY Change -26.0% -17.22% -23.24%
Total Long-Term Assets $2.120B $1.970B $2.000B
YoY Change 7.58% -0.21% -1.46%
TOTAL ASSETS
Total Short-Term Assets $151.0M $241.6M $163.1M
Total Long-Term Assets $2.120B $1.970B $2.000B
Total Assets $2.271B $2.212B $2.164B
YoY Change 2.66% 4.24% -0.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.3M $107.7M $131.1M
YoY Change 10.77% 14.82% 2.82%
Accrued Expenses $23.91M $52.20M $47.90M
YoY Change -54.19% 34.88% 93.15%
Deferred Revenue $114.5M $108.0M $158.0M
YoY Change 6.03% 15.01% 8.39%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $65.50M $23.70M $23.70M
YoY Change 176.37% 0.0% -62.79%
Total Short-Term Liabilities $343.6M $298.9M $368.0M
YoY Change 14.95% 15.94% -0.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.486B $1.489B $1.494B
YoY Change -0.22% -1.26% -1.26%
Other Long-Term Liabilities $38.17M $31.90M $31.74M
YoY Change 19.66% -35.16% -38.87%
Total Long-Term Liabilities $1.524B $1.521B $31.74M
YoY Change 0.2% -2.33% -38.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $343.6M $298.9M $368.0M
Total Long-Term Liabilities $1.524B $1.521B $31.74M
Total Liabilities $2.039B $1.839B $1.894B
YoY Change 10.91% 0.88% -2.11%
SHAREHOLDERS EQUITY
Retained Earnings -$233.9M
YoY Change 1.94%
Common Stock $672.2M $654.6M
YoY Change 3.01%
Preferred Stock
YoY Change
Treasury Stock (at cost) $154.9M
YoY Change 0.0%
Treasury Stock Shares $15.79M $6.520M
Shareholders Equity $231.7M $373.3M $269.7M
YoY Change
Total Liabilities & Shareholders Equity $2.271B $2.212B $2.163B
YoY Change 2.66% 4.24% -0.48%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $98.03M $95.99M $22.70M
YoY Change 2.13% 74.42% -112.91%
Depreciation, Depletion And Amortization $40.80M $41.20M $40.00M
YoY Change -0.97% -2.37% 1.27%
Cash From Operating Activities $146.3M $140.7M $106.5M
YoY Change 3.98% 41.41% 28.93%
INVESTING ACTIVITIES
Capital Expenditures -$40.20M -$43.50M -$51.60M
YoY Change -7.59% 19.51% 11.45%
Acquisitions
YoY Change
Other Investing Activities $100.0K $200.0K -$500.0K
YoY Change -50.0% -86.67%
Cash From Investing Activities -$40.10M -$43.40M -$52.00M
YoY Change -7.6% 24.36% 12.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -98.40M -4.700M -60.40M
YoY Change 1993.62% -89.8% 68.25%
NET CHANGE
Cash From Operating Activities 146.3M 140.7M 106.5M
Cash From Investing Activities -40.10M -43.40M -52.00M
Cash From Financing Activities -98.40M -4.700M -60.40M
Net Change In Cash 7.800M 92.60M -5.900M
YoY Change -91.58% 400.54% -1575.0%
FREE CASH FLOW
Cash From Operating Activities $146.3M $140.7M $106.5M
Capital Expenditures -$40.20M -$43.50M -$51.60M
Free Cash Flow $186.5M $184.2M $158.1M
YoY Change 1.25% 35.54% 22.65%

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seas Gain Loss On Impairment Or Disposal Of Assets Net
GainLossOnImpairmentOrDisposalOfAssetsNet
-12477000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
39705000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
24478000
us-gaap Share Based Compensation
ShareBasedCompensation
8444000
us-gaap Share Based Compensation
ShareBasedCompensation
18620000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5817000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
36806000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
919000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3374000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5058000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2866000
seas Increase Decrease In Accounts Payable And Accrued Liabilities Excluding Other Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingOtherAccruedLiabilities
3775000
seas Increase Decrease In Accounts Payable And Accrued Liabilities Excluding Other Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilitiesExcludingOtherAccruedLiabilities
8649000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-4505000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
10225000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
15483000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
36586000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
109000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
14902000
seas Increase Decrease In Operating Right Of Use Assets And Operating Lease Obligations
IncreaseDecreaseInOperatingRightOfUseAssetsAndOperatingLeaseObligations
370000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
30000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
101000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
313683000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
267458000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
152880000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
140878000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-24000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
349000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-152856000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-141227000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
11629000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
17780000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-143244000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
269000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
55000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
249000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
70000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
150000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4621000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2942000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-32856000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17583000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
93375000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35007000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33997000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
26260000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
23125000
CY2019Q3 seas Number Of Theme Parks
NumberOfThemeParks
12
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78164000
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
seas Number Of Theme Parks Opened For Portion Of Period
NumberOfThemeParksOpenedForPortionOfPeriod
7
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 unaudited 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 and liabilities, deferred revenue, equity compensation and the valuation of goodwill and other indefinite-lived intangible assets.  Actual results could differ from those estimates.</p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
52590000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35007000
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
95988000
CY2019Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
114536000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
101110000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
98028000
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50917000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34073000
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1673000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
934000
CY2019Q3 us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
1300000
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
1900000
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
125209000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
111181000
CY2019Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10673000
CY2018Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10071000
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86616000
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.11
CY2019Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
640000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
735000
CY2018Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
926000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
98028000
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78804000
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.24
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
95988000
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87542000
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.10
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
113659000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81003000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.40
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
55841000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86410000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
619000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
113659000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
81738000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.39
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
55841000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87029000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
394000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1736000
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.258
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.265
CY2019Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.274
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.309
CY2018Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
5214000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6564000
CY2019Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5369000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6641000
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
65505000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
45505000
CY2019Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
10623000
CY2019Q3 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
7203000
CY2018Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
6895000
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
620000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
490000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5466000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15681000
CY2019Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23912000
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23066000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1561760000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1553389000
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1485672000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1494679000
CY2019Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
20400000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
13878000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
55505000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
15505000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
15505000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
15505000
CY2019Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1445862000
CY2019Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1561760000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
332000
seas Number Of Area Not To Use Within Radius Of Land Lease
NumberOfAreaNotToUseWithinRadiusOfLandLease
560
CY2019Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.082
us-gaap Lessee Operating Lease Variable Lease Payment Terms And Conditions
LesseeOperatingLeaseVariableLeasePaymentTermsAndConditions
The minimum yearly rent is adjusted every three years to an amount equal to 80% of the average accounting year rent actually paid for the three previous years.
seas Number Of Percentage Of Average Accounting Year Rent Adjusted On Minimum Yearly Rent
NumberOfPercentageOfAverageAccountingYearRentAdjustedOnMinimumYearlyRent
0.80
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
10400000
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
142538000
CY2019Q3 seas Lease Right Of Use Asset
LeaseRightOfUseAsset
146160000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3914000
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
125290000
CY2019Q3 seas Lease Liability
LeaseLiability
132888000
CY2018Q4 seas Lease Right Of Use Asset
LeaseRightOfUseAsset
16905000
CY2018Q4 seas Lease Liability
LeaseLiability
2965000
CY2019Q3 us-gaap Lease Cost
LeaseCost
5231000
us-gaap Lease Cost
LeaseCost
12730000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3532000
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
207000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14020000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
825000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13671000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12674000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
208000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12130000
CY2019Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
204000
CY2019Q3 seas Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
11973000
CY2019Q3 seas Finance Lease Liability Payments Due Year Six
FinanceLeaseLiabilityPaymentsDueYearSix
201000
CY2019Q3 seas Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
247424000
CY2019Q3 seas Finance Lease Liability Payments Due After Year Six
FinanceLeaseLiabilityPaymentsDueAfterYearSix
2593000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
315424000
CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
4570000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
186220000
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
886000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
129204000
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
3684000
seas Operating Leases Payment Options To Extend Lease Terms Exercised
OperatingLeasesPaymentOptionsToExtendLeaseTermsExercised
7200000
CY2019Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
3100000
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-880000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
16578000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
231000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
14179000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
226000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
13111000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
220000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
11416000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
208000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
10479000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
204000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
265234000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
2794000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
330997000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Net Minimum Payments1
CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1
3883000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
918000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
2965000
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0811
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0360
us-gaap Operating Lease Payments
OperatingLeasePayments
11738000
seas Operating Cash Flows From Financing Leases
OperatingCashFlowsFromFinancingLeases
112000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
511000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1230000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
133297000
CY2019Q3 seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
187000
CY2018Q3 seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
1875000
seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
-5338000
seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
17768000
CY2019Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
324000
CY2018Q3 us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-301000
us-gaap Derivative Instruments Gain Loss Reclassified From Accumulated Oci Into Income Effective Portion Net
DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet
-2535000
CY2019Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
3200000
CY2019Q3 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
0
CY2019Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
3200000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
45500000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1495000000
seas Stock Repurchased Agreement Closing Date
StockRepurchasedAgreementClosingDate
2019-05-30
CY2019Q3 seas Transfers Between Fair Value Measurement Levels
TransfersBetweenFairValueMeasurementLevels
0
seas Transfers Between Fair Value Measurement Levels
TransfersBetweenFairValueMeasurementLevels
0
CY2019Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
0
CY2019Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
65500000
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1486000000
CY2018 seas Transfers Between Fair Value Measurement Levels
TransfersBetweenFairValueMeasurementLevels
0
seas License Agreement Term Description
LicenseAgreementTermDescription
On May 16, 2017, SEA entered into a License Agreement (the “License Agreement”) with Sesame Workshop (“Sesame”), a New York not-for-profit corporation.  SEA’s principal commitments pursuant to the License Agreement include: (i) opening a new Sesame Place theme park (“Standalone Park”) no later than mid-2021 in a location to be determined; (ii) building a new Sesame Land in SeaWorld Orlando by fall 2022; (iii) investing in minimum annual capital and marketing thresholds; and (iv) providing support for agreed upon sponsorship and charitable initiatives.  As of September 30, 2019, the Company estimates the combined remaining obligations for these commitments could be up to approximately $55.0 million over the remaining term of the agreement.  After the opening of the second Standalone Park (counting the existing Sesame Place Standalone Park in Langhorne, Pennsylvania), SEA will have the option to build additional Standalone Parks in the Sesame Territory within agreed upon timelines.  The License Agreement has an initial term through December 31, 2031, with an automatic additional 15 year extension plus a five year option added to the term of the License Agreement from December 31st of the year of each new Standalone Park opening. On March 27, 2019, the Company opened a new Sesame Land in SeaWorld Orlando. On October 21, 2019, the Company announced that it will open its second Sesame Place Standalone Park in San Diego in spring 2021.  Sesame Place San Diego will be located on the site of the current Aquatica San Diego. While construction will begin in the fall of 2019, it is not expected to impact Aquatica San Diego’s operating schedule in 2020.
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3309000
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1162000
CY2018Q3 us-gaap Share Based Compensation
ShareBasedCompensation
5183000
us-gaap Share Based Compensation
ShareBasedCompensation
8444000
us-gaap Share Based Compensation
ShareBasedCompensation
18620000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
764577
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
449326
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
25.95
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
109251
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
21.38
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
8593
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
18.52
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
198437
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
18.03
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
897622
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.60
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4336000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
411309
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.27
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.62
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0152
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3882
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2019Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
94012743
CY2019Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
15790463
CY2019Q3 seas Restructuring Charges And Other Separation Costs Incurred
RestructuringChargesAndOtherSeparationCostsIncurred
1200000
seas Restructuring Charges And Other Separation Costs Incurred
RestructuringChargesAndOtherSeparationCostsIncurred
3800000
CY2018Q1 us-gaap Severance Costs1
SeveranceCosts1
6700000

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