$WYNN
WYNN RESORTS LTD

2013 Q2 Form 10-Q Financial Statement

#000119312513329016 Filed on August 09, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $1.332B $1.253B
YoY Change 6.31% -8.35%
Cost Of Revenue $811.6M $809.6M
YoY Change 0.25% -4.25%
Gross Profit $520.6M $443.6M
YoY Change 17.36% -14.99%
Gross Profit Margin 39.08% 35.4%
Selling, General & Admin $132.4M $99.78M
YoY Change 32.68% 8.56%
% of Gross Profit 25.43% 22.49%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $93.20M $93.50M
YoY Change -0.32% -8.42%
% of Gross Profit 17.9% 21.08%
Operating Expenses $132.4M $99.78M
YoY Change 32.68% 8.56%
Operating Profit $274.0M $264.1M
YoY Change 3.75% 23.98%
Interest Expense $73.76M $73.87M
YoY Change -0.15% 26.86%
% of Operating Profit 26.92% 27.97%
Other Income/Expense, Net -$80.18M -$69.57M
YoY Change 15.26% 32.59%
Pretax Income $193.8M $194.6M
YoY Change -0.37% 21.17%
Income Tax $1.124M -$4.740M
% Of Pretax Income 0.58% -2.44%
Net Earnings $129.8M $138.1M
YoY Change -6.0% 13.14%
Net Earnings / Revenue 9.74% 11.02%
Basic Earnings Per Share $1.29 $1.38
Diluted Earnings Per Share $1.28 $1.37
COMMON SHARES
Basic Shares Outstanding 100.5M shares 99.78M shares
Diluted Shares Outstanding 101.5M shares 101.0M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.175B $2.152B
YoY Change 1.07% 20.63%
Cash & Equivalents $2.028B $1.933B
Short-Term Investments $146.0M $219.0M
Other Short-Term Assets $39.00M $34.00M
YoY Change 14.71% 13.33%
Inventory $70.15M $66.29M
Prepaid Expenses
Receivables $160.0M $175.0M
Other Receivables $47.00M $43.00M
Total Short-Term Assets $2.490B $2.471B
YoY Change 0.79% 19.3%
LONG-TERM ASSETS
Property, Plant & Equipment $4.761B $4.745B
YoY Change 0.34% -0.53%
Goodwill
YoY Change
Intangibles $29.24M $33.52M
YoY Change -12.77%
Long-Term Investments $4.000M $59.00M
YoY Change -93.22% -23.38%
Other Assets $97.34M $120.0M
YoY Change -18.86% -21.07%
Total Long-Term Assets $5.283B $5.010B
YoY Change 5.45% -0.54%
TOTAL ASSETS
Total Short-Term Assets $2.490B $2.471B
Total Long-Term Assets $5.283B $5.010B
Total Assets $7.773B $7.481B
YoY Change 3.91% 5.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $208.0M $158.7M
YoY Change 31.1% -4.99%
Accrued Expenses $379.0M $369.0M
YoY Change 2.71% 3.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.050M $165.8M
YoY Change -99.37% 9.8%
Total Short-Term Liabilities $1.368B $1.337B
YoY Change 2.32% 15.46%
LONG-TERM LIABILITIES
Long-Term Debt $6.011B $5.292B
YoY Change 13.58% 76.7%
Other Long-Term Liabilities $125.6M $119.7M
YoY Change 4.94% -14.48%
Total Long-Term Liabilities $6.136B $5.412B
YoY Change 13.39% 72.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.368B $1.337B
Total Long-Term Liabilities $6.136B $5.412B
Total Liabilities $7.596B $6.885B
YoY Change 10.32% 49.71%
SHAREHOLDERS EQUITY
Retained Earnings $176.1M $214.8M
YoY Change -18.02%
Common Stock $1.141M $1.134M
YoY Change 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.142B $1.128B
YoY Change 1.23%
Treasury Stock Shares 12.97M shares 12.86M shares
Shareholders Equity -$88.03M $341.6M
YoY Change
Total Liabilities & Shareholders Equity $7.773B $7.481B
YoY Change 3.91% 5.24%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $129.8M $138.1M
YoY Change -6.0% 13.14%
Depreciation, Depletion And Amortization $93.20M $93.50M
YoY Change -0.32% -8.42%
Cash From Operating Activities $489.9M $322.3M
YoY Change 52.0% -36.53%
INVESTING ACTIVITIES
Capital Expenditures -$130.9M -$79.80M
YoY Change 64.04% 320.0%
Acquisitions
YoY Change
Other Investing Activities -$9.000M -$88.10M
YoY Change -89.78% -53.36%
Cash From Investing Activities -$139.9M -$168.0M
YoY Change -16.73% -19.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -381.4M -91.60M
YoY Change 316.38% 46.79%
NET CHANGE
Cash From Operating Activities 489.9M 322.3M
Cash From Investing Activities -139.9M -168.0M
Cash From Financing Activities -381.4M -91.60M
Net Change In Cash -31.40M 62.70M
YoY Change -150.08% -73.61%
FREE CASH FLOW
Cash From Operating Activities $489.9M $322.3M
Capital Expenditures -$130.9M -$79.80M
Free Cash Flow $620.8M $402.1M
YoY Change 54.39% -23.67%

Facts In Submission

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dei Trading Symbol
TradingSymbol
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dei Entity Registrant Name
EntityRegistrantName
WYNN RESORTS LTD
dei Amendment Flag
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dei Entity Filer Category
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dei Document Fiscal Year Focus
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2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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CY2013Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
63185000
CY2013Q2 us-gaap Casino Expenses
CasinoExpenses
665422000
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
28746000
CY2013Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11200000
CY2013Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
93218000
CY2013Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
28794000
CY2013Q2 us-gaap Advertising Expense
AdvertisingExpense
6100000
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
132381000
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1124000
CY2013Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
48000
CY2013Q2 us-gaap Food And Beverage Cost Of Sales
FoodAndBeverageCostOfSales
95467000
CY2013Q2 us-gaap Occupancy Costs
OccupancyCosts
33984000
CY2013Q2 us-gaap Pre Opening Costs
PreOpeningCosts
434000
CY2013Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
62931000
CY2013Q2 wynn Corporate Expenses And Other
CorporateExpensesAndOther
52066000
CY2013Q2 wynn Accelerated Vesting Of Restricted Stock Charges
AcceleratedVestingOfRestrictedStockCharges
23000000
CY2013Q2 wynn Project Abandonment Costs
ProjectAbandonmentCosts
5612000
CY2013Q2 wynn Amount Of Complementary Tax Exemption
AmountOfComplementaryTaxExemption
24200000
CY2013Q2 wynn Estimated Costs Of Promotional Allowances Primarily Included In Casino Expenses
EstimatedCostsOfPromotionalAllowancesPrimarilyIncludedInCasinoExpenses
41088000
CY2013Q2 wynn Change In Accounting Estimate Financial Effect Net Income Loss
ChangeInAccountingEstimateFinancialEffectNetIncomeLoss
12000000
CY2013Q2 wynn Gaming Tax Expenses
GamingTaxExpenses
462000000
CY2013Q2 wynn Adjusted Property Ebitda
AdjustedPropertyEbitda
425745000
CY2013Q2 wynn Change In Accounting Estimate Financial Effect Net Income Loss Per Share Diluted
ChangeInAccountingEstimateFinancialEffectNetIncomeLossPerShareDiluted
0.12
CY2013Q2 wynn Entertainment Retail And Other Revenue
EntertainmentRetailAndOtherRevenue
103046000
CY2013Q2 wynn Gross Revenue
GrossRevenue
1418122000
CY2013Q2 wynn Provision And Recovery For Doubtful Accounts
ProvisionAndRecoveryForDoubtfulAccounts
-11225000
CY2013Q2 wynn Entertainment Retail And Other Costs
EntertainmentRetailAndOtherCosts
42956000
CY2013Q2 wynn Change In Accounting Estimate Financial Effect Operating Income
ChangeInAccountingEstimateFinancialEffectOperatingIncome
14900000

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