10-Q Filing

VICI PROPERTIES INC. CIK: 1705696 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001705696-18-000025`
Period End Date	20180331
Filing Date	20180504
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	vici-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 24 Cash Flow Statement 31 Stockholders Equity 10

Balance Sheet 70 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, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Investment in direct financing leases, net	`CapitalLeasesNetInvestmentInDirectFinancingLeases`	$8.28B	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
Investment in direct financing leases, net	`CapitalLeasesNetInvestmentInDirectFinancingLeases`	$8.27B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	370.13M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	300.28M	shares	Point-in-time
Accounted for using the operating method	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$1.11B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	370.13M	shares	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	300.28M	shares	Point-in-time
Accounted for using the operating method	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$1.11B	USD	Point-in-time
Land	`LandAvailableForDevelopment`	$73.60M	USD	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
Land	`LandAvailableForDevelopment`	$73.60M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment used in operations, net	`PropertyPlantAndEquipmentNet`	$74.30M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Property and equipment used in operations, net	`PropertyPlantAndEquipmentNet`	$73.74M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	50.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	12.00M	shares	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	12.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$918.22M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$13.81M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$13.76M	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Other assets	`OtherAssets`	$15.36M	USD	Point-in-time
Other assets	`OtherAssets`	$14.92M	USD	Point-in-time
Total assets	`Assets`	$9.74B	USD	Point-in-time
Total assets	`Assets`	$10.49B	USD	Point-in-time
Debt, net	`DebtInstrumentCarryingAmount`	$4.12B	USD	Point-in-time
Debt, net	`DebtInstrumentCarryingAmount`	$4.79B	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$25.39M	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$21.59M	USD	Point-in-time
Deferred financing liability	`DeferredLongTermLiabilityCharges`	$73.60M	USD	Point-in-time
Deferred financing liability	`DeferredLongTermLiabilityCharges`	$73.60M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$60.93M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$68.12M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$59.22M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$10.56M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$9.22M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.72M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.96B	USD	Point-in-time
Total liabilities	`Liabilities`	$4.35B	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized and 370,128,832 and 300,278,938 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.00M	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized and 370,128,832 and 300,278,938 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.70M	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 March 31, 2018 and December 31, 2017, respectively	`PreferredStockValue`	-	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 March 31, 2018 and December 31, 2017, respectively	`PreferredStockValue`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$5.95B	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$4.65B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$95.56M	USD	Point-in-time
Total VICI shareholders equity	`StockholdersEquity`	$4.69B	USD	Point-in-time
Total VICI shareholders equity	`StockholdersEquity`	$6.05B	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$84.88M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$83.00M	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Total shareholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.13B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$9.74B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$10.49B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Earned income from direct financing leases	`CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue`	$182.04M	USD	1 Quarter
Rental income from operating leases	`OperatingLeasesIncomeStatementLeaseRevenue`	$12.21M	USD	1 Quarter
Tenant reimbursement of property taxes	`PropertyTaxesReimbursed`	$17.24M	USD	1 Quarter
Golf-related	`SalesRevenueGoodsNet`	$6.79M	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$218.28M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.31M	USD	1 Quarter
Depreciation	`Depreciation`	$906.00K	USD	1 Quarter
Property taxes	`RealEstateTaxExpense`	$17.24M	USD	1 Quarter
Golf-related	`CostOfGoodsSold`	$4.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$29.55M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$188.72M	USD	1 Quarter
Interest expense	`InterestExpense`	$52.88M	USD	1 Quarter
Interest income	`InterestIncomeDepositsWithFinancialInstitutions`	$1.68M	USD	1 Quarter
Loss from extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-23.04M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$114.49M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$384.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$114.10M	USD	1 Quarter
Less: Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.98M	USD	1 Quarter
Net income attributable to common shareholders	`NetIncomeLossAvailableToCommonStockholdersBasic`	$112.12M	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	342.90M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	343.06M	shares	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.33	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.33	USD	1 Quarter
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.16	USD	1 Quarter

Cash Flow Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$114.10M	USD	1 Quarter
Direct financing lease adjustments	`IncreaseDecreaseInLeasingReceivables`	$12.91M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$391.00K	USD	1 Quarter
Depreciation	`Depreciation`	$906.00K	USD	1 Quarter
Amortization of debt issuance costs and original issue discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.49M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-23.04M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$-200.00K	USD	1 Quarter
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$3.79M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-7.19M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.34M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$122.48M	USD	1 Quarter
Acquisition of property and equipment, net of change in related payables	`PaymentsForProceedsFromOtherInvestingActivities`	$345.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-345.00K	USD	1 Quarter
Proceeds from initial public offering of common stock	`ProceedsFromIssuanceInitialPublicOffering`	$1.31B	USD	1 Quarter
Payment of Term Loan B Facility	`RepaymentsOfLinesOfCredit`	$100.00M	USD	1 Quarter
Payment of Revolving Credit Facility	`RepaymentsOfLongTermDebt`	$300.00M	USD	1 Quarter
Payment of Second Lien Notes	`RepaymentsOfSecuredDebt`	$290.06M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$726.00K	USD	1 Quarter
Distributions to non-controlling interests	`DistributionstoNonControllingInterests`	$3.86M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$612.48M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$734.62M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$932.02M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$197.41M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$932.02M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$197.41M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$918.22M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$918.22M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$47.13M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 10 line items

Line Item	Tag	Value	Unit	Period
Balance at December 31, 2017	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Balance at December 31, 2017	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.13B	USD	Point-in-time
Net income	`NetIncomeLoss`	$114.10M	USD	1 Quarter
Issuance of common stock from Initial Public Offering	`StockIssuedDuringPeriodValueNewIssues`	$1.39B	USD	Point-in-time
Issuance of common stock from Initial Public Offering	`StockIssuedDuringPeriodValueNewIssues`	$1.31B	USD	1 Quarter
Distribution to non-controlling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$3.86M	USD	1 Quarter
Dividends declared	`DividendsCommonStockCash`	$59.22M	USD	1 Quarter
Non-cash stock compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$391.00K	USD	1 Quarter
Balance at March 31, 2018	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Balance at March 31, 2018	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.13B	USD	Point-in-time

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