10-K Filing

VICI PROPERTIES INC. CIK: 1705696 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001705696-18-000015`
Period End Date	20171231
Filing Date	20180328
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	vici-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 42 Income Statement 32 Cash Flow Statement 36 Stockholders Equity 13

Balance Sheet 42 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	177.16M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	300.28M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	300.28M	shares	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	12.00M	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investment in direct financing leases, net	`CapitalLeasesNetInvestmentInDirectFinancingLeases`	$8.27B	USD	Point-in-time
Accounted for using the operating method	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$1.11B	USD	Point-in-time
Land	`LandAvailableForDevelopment`	$73.60M	USD	Point-in-time
Property and equipment used in operations, net	`PropertyPlantAndEquipmentNet`	$4.86B	USD	Point-in-time
Property and equipment used in operations, net	`PropertyPlantAndEquipmentNet`	$74.30M	USD	Point-in-time
Property and equipment used in operations, net	`PropertyPlantAndEquipmentNet`	$75.00M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$13.76M	USD	Point-in-time
Other assets	`OtherAssets`	$15.36M	USD	Point-in-time
Total assets	`Assets`	$4.86B	USD	Point-in-time
Total assets	`Assets`	$9.74B	USD	Point-in-time
Debt, net	`DebtInstrumentCarryingAmount`	$4.92B	USD	Point-in-time
Debt, net	`DebtInstrumentCarryingAmount`	$4.79B	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$21.59M	USD	Point-in-time
Deferred financing liability	`DeferredLongTermLiabilityCharges`	$73.60M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$68.12M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$10.56M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.96B	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized and 300,278,938 shares issued and outstanding at December 31, 2017	`CommonStockValue`	$3.00M	USD	Point-in-time
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 12,000,000 shares issued and no shares outstanding at December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$4.65B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.66M	USD	Point-in-time
Total VICI shareholders equity	`StockholdersEquity`	$4.69B	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$84.88M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.52B	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$9.74B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Earned income from direct financing leases	`CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue`	$150.17M	USD	1 Quarter
Rental income from operating leases	`OperatingLeasesIncomeStatementLeaseRevenue`	$11.53M	USD	1 Quarter
Tenant reimbursement of property taxes	`PropertyTaxesReimbursed`	$19.56M	USD	1 Quarter
Golf-related	`SalesRevenueGoodsNet`	$6.35M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$187.61M	USD	Annual
Net revenues	`SalesRevenueNet`	$187.61M	USD	1 Quarter
Golf-related	`CostOfGoodsSold`	$4.13M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.94M	USD	1 Quarter
Depreciation	`Depreciation`	$751.00K	USD	1 Quarter
Depreciation	`Depreciation`	$751.00K	USD	Annual
Property taxes	`RealEstateTaxExpense`	$19.56M	USD	1 Quarter
Acquisition and transaction expenses	`BusinessCombinationAcquisitionRelatedCosts`	$9.04M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$43.41M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$144.20M	USD	Annual
Operating income	`OperatingIncomeLoss`	$144.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$63.35M	USD	Annual
Interest expense	`InterestExpense`	$63.35M	USD	1 Quarter
Interest income	`InterestIncomeDepositsWithFinancialInstitutions`	$282.00K	USD	1 Quarter
Loss from extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-38.49M	USD	1 Quarter
Loss from extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-38.49M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.64M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.64M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.90M	USD	Annual
Income tax benefit	`IncomeTaxExpenseBenefit`	$-1.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$44.54M	USD	Annual
Net income	`NetIncomeLoss`	$44.54M	USD	1 Quarter
Less: Net income attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.88M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$42.66M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	227.83M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	227.99M	shares	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.19	USD	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$44.54M	USD	Annual
Net income	`NetIncomeLoss`	$44.54M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$1.39M	USD	1 Quarter
Depreciation	`Depreciation`	$751.00K	USD	1 Quarter
Depreciation	`Depreciation`	$751.00K	USD	Annual
Amortization of debt issuance costs and original issue discount	`AmortizationOfFinancingCostsAndDiscounts`	$156.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.91M	USD	1 Quarter
Investment in direct financing leases, net	`IncreaseDecreaseInLeasingReceivables`	$8.44M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$7.16M	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$21.59M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$68.08M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$10.45M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$129.44M	USD	1 Quarter
Acquisition of investment in direct financing leases	`PaymentsToAcquireRealEstate`	$1.14B	USD	1 Quarter
Acquisition of property and equipment, net of change in related payables	`PaymentsForProceedsFromOtherInvestingActivities`	$51.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.14B	USD	1 Quarter
Proceeds from private placement of common stock	`ProceedsFromIssuanceOfCommonStock`	$963.78M	USD	1 Quarter
Proceeds from issuance of Term B Loan Facility, net	`ProceedsFromLinesOfCredit`	$2.19B	USD	1 Quarter
Proceeds from issuance of Revolving Credit Facility, net	`ProceedsFromIssuanceOfLongTermDebt`	$298.00M	USD	1 Quarter
Payment of Prior Term Loan	`RepaymentsOfLongTermDebt`	$1.64B	USD	1 Quarter
Payment of Prior First Lien Notes	`RepaymentsOfSecuredDebt`	$311.72M	USD	1 Quarter
Proceeds from unrecognized sale of real estate	`ProceedsFromSaleOfRealEstate`	$73.60M	USD	1 Quarter
Payment of Mezzanine Debt	`RepaymentsofMezzanineDebt`	$400.00M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDividends`	$31.50M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-13.00K	USD	1 Quarter
Cash flows provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.15B	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$141.63M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$197.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.77M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$197.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$55.77M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$36.78M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance attributable to NCI	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.52B	USD	Point-in-time
Beginning balance attributable to NCI	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Beginning balance attributable to parent	`StockholdersEquity`	$4.69B	USD	Point-in-time
Net income	`NetIncomeLoss`	$44.54M	USD	Annual
Net income	`NetIncomeLoss`	$44.54M	USD	1 Quarter
Preferred stock conversion	`StockIssuedDuringPeriodValueConversionOfUnits`	-	USD	1 Quarter
Mandatory debt conversion	`MandatoryConversionofStock`	$249.99M	USD	1 Quarter
Mandatory debt conversion	`MandatoryConversionofStock`	$-250.00M	USD	Annual
Private equity placement	`StockIssuedDuringPeriodValueNewIssues`	$963.78M	USD	1 Quarter
Non-cash stock compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$-1.39M	USD	1 Quarter
Ending balance attributable to NCI	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.52B	USD	Point-in-time
Ending balance attributable to NCI	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Ending balance attributable to parent	`StockholdersEquity`	$4.69B	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.