2012 Form 10-K Financial Statement

#000119312513087674 Filed on March 01, 2013

View on sec.gov

Income Statement

Concept 2012 2011 Q4 2011 Q3
Revenue $5.154B $1.344B $1.298B
YoY Change -2.19% 8.62% 29.07%
Cost Of Revenue $3.252B $851.3M $836.0M
YoY Change -1.76% 8.56% 27.99%
Gross Profit $1.903B $492.6M $462.3M
YoY Change -2.91% 8.74% 31.04%
Gross Profit Margin 36.91% 36.66% 35.61%
Selling, General & Admin $441.7M $117.1M $107.9M
YoY Change 13.53% -2.09% 3.78%
% of Gross Profit 23.21% 23.77% 23.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $367.1M $94.10M $100.5M
YoY Change -5.82% -6.18% 1.11%
% of Gross Profit 19.29% 19.1% 21.74%
Operating Expenses $441.7M $217.8M $107.9M
YoY Change 13.53% -2.2% -51.12%
Operating Profit $1.029B $274.8M $239.8M
YoY Change 2.09% 19.33% 81.7%
Interest Expense $288.8M -$50.00M $57.46M
YoY Change 25.59% -7.41% -196.41%
% of Operating Profit 28.05% -18.19% 23.96%
Other Income/Expense, Net -$296.3M $2.400M -$50.39M
YoY Change 46.19% 242.86% 4480.91%
Pretax Income $733.0M $227.1M $189.5M
YoY Change -9.01% 28.81% 2606.5%
Income Tax $4.299M -$31.20M $4.270M
% Of Pretax Income 0.59% -13.74% 2.25%
Net Earnings $502.0M $190.5M $127.1M
YoY Change -18.15% 66.79% -479.29%
Net Earnings / Revenue 9.74% 14.17% 9.79%
Basic Earnings Per Share $4.87 $1.53 $1.02
Diluted Earnings Per Share $4.82 $1.52 $1.01
COMMON SHARES
Basic Shares Outstanding 103.1M shares 124.2M shares
Diluted Shares Outstanding 104.2M shares 125.9M shares

Balance Sheet

Concept 2012 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.864B $1.385B $1.910B
YoY Change 34.58% 10.1% -0.62%
Cash & Equivalents $1.725B $1.263B $1.776B
Short-Term Investments $139.0M $122.0M $134.0M
Other Short-Term Assets $36.00M $31.00M $27.00M
YoY Change 16.13% 10.71% 0.0%
Inventory $64.00M $72.06M $77.00M
Prepaid Expenses
Receivables $191.0M $193.0M $154.0M
Other Receivables $48.00M $45.00M $36.00M
Total Short-Term Assets $2.202B $1.726B $2.205B
YoY Change 27.58% 10.6% 0.87%
LONG-TERM ASSETS
Property, Plant & Equipment $4.728B $4.865B $4.687B
YoY Change -2.82% -1.13% -5.81%
Goodwill
YoY Change
Intangibles $35.75M
YoY Change
Long-Term Investments $4.000M $4.000M $110.0M
YoY Change 0.0% 0.0% 2650.0%
Other Assets $311.0M $125.7M $390.0M
YoY Change 16.04% -15.06% 153.25%
Total Long-Term Assets $5.075B $5.173B $5.224B
YoY Change -1.89% 1.17% 0.93%
TOTAL ASSETS
Total Short-Term Assets $2.202B $1.726B $2.205B
Total Long-Term Assets $5.075B $5.173B $5.224B
Total Assets $7.277B $6.899B $7.429B
YoY Change 5.48% 3.38% 0.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $165.0M $171.6M $140.0M
YoY Change -4.07% 2.15% 6.87%
Accrued Expenses $384.0M $401.0M $384.0M
YoY Change -4.24% 21.15% 41.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.000M $407.9M $171.0M
YoY Change -99.75% 13497.8% 5600.0%
Total Short-Term Liabilities $1.131B $1.580B $1.326B
YoY Change -28.42% 77.92% 78.47%
LONG-TERM LIABILITIES
Long-Term Debt $5.782B $2.810B $2.933B
YoY Change 105.77% -13.94% -7.65%
Other Long-Term Liabilities $214.0M $128.2M $232.0M
YoY Change -7.76% 100.34% 98.29%
Total Long-Term Liabilities $5.996B $2.938B $3.165B
YoY Change 97.11% -11.75% -3.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.131B $1.580B $1.326B
Total Long-Term Liabilities $5.996B $2.938B $3.165B
Total Liabilities $7.536B $4.676B $4.854B
YoY Change 56.67% 5.39% 13.25%
SHAREHOLDERS EQUITY
Retained Earnings $36.37M
YoY Change
Common Stock $1.379M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.127B
YoY Change
Treasury Stock Shares 12.86M shares
Shareholders Equity -$259.0M $2.089B $2.575B
YoY Change
Total Liabilities & Shareholders Equity $7.277B $6.899B $7.429B
YoY Change 5.48% 3.38% 0.91%

Cashflow Statement

Concept 2012 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $502.0M $190.5M $127.1M
YoY Change -18.15% 66.79% -479.29%
Depreciation, Depletion And Amortization $367.1M $94.10M $100.5M
YoY Change -5.82% -6.18% 1.11%
Cash From Operating Activities $1.186B $366.7M $318.1M
YoY Change -21.78% -7.45% 33.38%
INVESTING ACTIVITIES
Capital Expenditures $241.0M -$98.30M -$34.50M
YoY Change 30.87% 81.37% -15.85%
Acquisitions
YoY Change
Other Investing Activities -$103.9M $3.500M -$85.20M
YoY Change -62.22% -333.33% 4160.0%
Cash From Investing Activities -$344.9M -$94.80M -$119.8M
YoY Change -24.88% 70.2% 178.6%
FINANCING ACTIVITIES
Cash Dividend Paid $955.5M
YoY Change -7.54%
Common Stock Issuance & Retirement, Net $911.0K
YoY Change -88.06%
Debt Paid & Issued, Net $1.023B
YoY Change 406.61%
Cash From Financing Activities -$382.5M -790.5M -106.9M
YoY Change -63.84% -21.17% -19.87%
NET CHANGE
Cash From Operating Activities $1.186B 366.7M 318.1M
Cash From Investing Activities -$344.9M -94.80M -119.8M
Cash From Financing Activities -$382.5M -790.5M -106.9M
Net Change In Cash $458.4M -518.6M 91.40M
YoY Change -50694.37% -21.7% 47.18%
FREE CASH FLOW
Cash From Operating Activities $1.186B $366.7M $318.1M
Capital Expenditures $241.0M -$98.30M -$34.50M
Free Cash Flow $944.7M $465.0M $352.6M
YoY Change -29.06% 3.24% 26.15%

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CY2012 wynn Surname Rights Agreement Expiration Date
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October 24, 2017
CY2012 wynn Amount Of Time Guarantee Will Be At Fixed Amount
AmountOfTimeGuaranteeWillBeAtFixedAmount
180 D
CY2012 wynn Foreign Tax Credit Carryforward Time Period
ForeignTaxCreditCarryforwardTimePeriod
10 Y
CY2012 wynn Companys Matching Contribution Percentage
CompanysMatchingContributionPercentage
0.05 pure
CY2012 wynn Complementary Tax Rate
ComplementaryTaxRate
0.12 pure
CY2011Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
213033000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
CY2011Q2 us-gaap Profit Loss
ProfitLoss
155331000
CY2011Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1367353000
CY2012 wynn Project Abandonment Costs
ProjectAbandonmentCosts
39978000
CY2012 wynn Net Loss On Assets Abandoned Retired For Remodel Or Sales
NetLossOnAssetsAbandonedRetiredForRemodelOrSales
29524000
CY2012 wynn Amount Of Complementary Tax Exemption
AmountOfComplementaryTaxExemption
87100000
CY2012 wynn Percentage Of Annual Excess Cash Flows To Be Repaid Under New Credit Facility
PercentageOfAnnualExcessCashFlowsToBeRepaidUnderNewCreditFacility
0.50 pure
CY2012 wynn Restricted Cash And Payments To Acquire Available For Sale Securities Debt
RestrictedCashAndPaymentsToAcquireAvailableForSaleSecuritiesDebt
282608000
CY2012 wynn Share Based Compensation Arrangement By Share Based Payment Award Expiration In Years
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationInYears
P10Y
CY2012 wynn Amount Of Complementary Tax Exemption Per Share
AmountOfComplementaryTaxExemptionPerShare
0.84
CY2012 wynn Redemption Price Of Shares Cancelled
RedemptionPriceOfSharesCancelled
1936443000
CY2012 wynn Annual Fee Paid To Bank
AnnualFeePaidToBank
5200000
CY2012 wynn Annual Fee Paid To Bank
AnnualFeePaidToBank
700000
CY2012 wynn Purchase And Renovation Costs For Home Purchased For Employee
PurchaseAndRenovationCostsForHomePurchasedForEmployee
9300000
CY2012 wynn Notice Period To Exercise Aircraft Purchase Option
NoticePeriodToExerciseAircraftPurchaseOption
P30D
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.39
CY2011Q1 us-gaap Profit Loss
ProfitLoss
226335000
CY2012 wynn Corporate Expenses And Other
CorporateExpensesAndOther
131807000
CY2012 wynn Payments For Deposits And Other Assets
PaymentsForDepositsAndOtherAssets
38042000
CY2012 wynn Estimated Costs Of Promotional Allowances Primarily Included In Casino Expenses
EstimatedCostsOfPromotionalAllowancesPrimarilyIncludedInCasinoExpenses
178891000
CY2012 wynn Unrecognized Tax Benefits Impact On Effective Tax Rate
UnrecognizedTaxBenefitsImpactOnEffectiveTaxRate
18800000
CY2012 wynn Other Debt Instruments Fair Value
OtherDebtInstrumentsFairValue
760800000
CY2012 wynn Other Debt Instruments Net Book Value
OtherDebtInstrumentsNetBookValue
783400000
CY2012 wynn Change In Property And Equipment Included In Accounts And Construction Payables
ChangeInPropertyAndEquipmentIncludedInAccountsAndConstructionPayables
6557000
CY2012 wynn Cash Distribution On Non Vested Stock
CashDistributionOnNonVestedStock
866000
CY2012 wynn Donation Payments Made Or Accrued During Period
DonationPaymentsMadeOrAccruedDuringPeriod
4083000
CY2012 wynn Total Deferred Income Tax Expense Benefit Federal And Foreign
TotalDeferredIncomeTaxExpenseBenefitFederalAndForeign
-3655000
CY2012 wynn Total Donations Commitments
TotalDonationsCommitments
135000000
CY2012 wynn Recognized Foreign Tax Credit Tax Benefit Net Of Valuation Allowance
RecognizedForeignTaxCreditTaxBenefitNetOfValuationAllowance
0
CY2012 wynn Redemption Price Promissory Note
RedemptionPricePromissoryNote
1940000000
CY2012 wynn Gain Losses On Exchange Extinguishment Settlement Of Debt
GainLossesOnExchangeExtinguishmentSettlementOfDebt
25151000
CY2012 wynn Gaming Tax Expenses
GamingTaxExpenses
1800000000
CY2012 wynn Loss On Show Cancellation
LossOnShowCancellation
6056000
CY2012 wynn Adjusted Property Ebitda
AdjustedPropertyEbitda
1575812000
CY2011Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1260272000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.40
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
173804000
CY2010Q4 wynn Tax Exemption Period
TaxExemptionPeriod
P5Y
CY2011Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
280556000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.23
CY2012Q1 us-gaap Profit Loss
ProfitLoss
198409000
CY2012Q1 us-gaap Sales Revenue Net
SalesRevenueNet
1313498000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.25
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
140564000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
264123000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
CY2012Q2 us-gaap Profit Loss
ProfitLoss
199293000
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
1253207000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
138064000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
239845000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2011Q3 us-gaap Profit Loss
ProfitLoss
185185000
CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1298304000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.02
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
127063000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
247092000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.11
CY2012Q3 us-gaap Profit Loss
ProfitLoss
165171000
CY2012Q3 us-gaap Sales Revenue Net
SalesRevenueNet
1298495000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.12
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
112035000
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
274806000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.52
CY2011Q4 us-gaap Profit Loss
ProfitLoss
258262000
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
1343863000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.53
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
190473000
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
257962000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.10
CY2012Q4 us-gaap Profit Loss
ProfitLoss
165826000
CY2012Q4 us-gaap Sales Revenue Net
SalesRevenueNet
1289084000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.11
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
111373000

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