10-Q Filing

VICI PROPERTIES INC. CIK: 1705696 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001705696-18-000033`
Period End Date	20180630
Filing Date	20180802
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	vici-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 56 Cash Flow Statement 38 Stockholders Equity 13

Balance Sheet 60 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`	300.28M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	370.15M	shares	Point-in-time
Investments in direct financing leases, net	`DirectFinancingLeaseNetInvestmentInLease`	$8.29B	USD	Point-in-time
Investments in direct financing leases, net	`DirectFinancingLeaseNetInvestmentInLease`	$8.27B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	370.15M	shares	Point-in-time
Investments in operating leases	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$1.11B	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	300.28M	shares	Point-in-time
Investments in operating leases	`PropertySubjectToOrAvailableForOperatingLeaseNet`	$1.11B	USD	Point-in-time
Land	`LandAvailableForDevelopment`	$73.60M	USD	Point-in-time
Land	`LandAvailableForDevelopment`	$73.60M	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`	$73.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$940.74M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$13.76M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$13.81M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	-	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$39.91M	USD	Point-in-time
Other assets	`OtherAssets`	$18.47M	USD	Point-in-time
Other assets	`OtherAssets`	$15.36M	USD	Point-in-time
Total assets	`Assets`	$9.74B	USD	Point-in-time
Total assets	`Assets`	$10.56B	USD	Point-in-time
Debt, net	`DebtInstrumentCarryingAmount`	$4.79B	USD	Point-in-time
Debt, net	`DebtInstrumentCarryingAmount`	$4.12B	USD	Point-in-time
Accrued interest	`InterestPayableCurrentAndNoncurrent`	$14.25M	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	`ContractWithCustomerLiability`	$68.12M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiability`	$71.96M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Dividends payable	`DividendsPayableCurrentAndNoncurrent`	$97.11M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$10.98M	USD	Point-in-time
Other liabilities	`OtherLiabilities`	$10.56M	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`	$4.39B	USD	Point-in-time
Commitments and Contingencies (Note 11)	`CommitmentsAndContingencies`	-	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 370,149,921 and 300,278,938 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.70M	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized and 370,149,921 and 300,278,938 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.00M	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
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-4.64M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$137.44M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$42.66M	USD	Point-in-time
Total VICI stockholders equity	`StockholdersEquity`	$4.69B	USD	Point-in-time
Total VICI stockholders equity	`StockholdersEquity`	$6.09B	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$84.88M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$83.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.17B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$10.56B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$9.74B	USD	Point-in-time

Income Statement 56 line items

Line Item	Tag	Value	Unit	Period
Income from direct financing leases	`CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue`	$364.36M	USD	2 Qtrs
Income from direct financing leases	`CapitalLeasesIncomeStatementDirectFinancingLeaseRevenue`	$182.32M	USD	1 Quarter
Income from operating leases	`OperatingLeasesIncomeStatementLeaseRevenue`	$12.21M	USD	1 Quarter
Income from operating leases	`OperatingLeasesIncomeStatementLeaseRevenue`	$24.42M	USD	2 Qtrs
Tenant reimbursement of property taxes	`PropertyTaxesReimbursed`	$18.93M	USD	1 Quarter
Tenant reimbursement of property taxes	`PropertyTaxesReimbursed`	$36.17M	USD	2 Qtrs
Golf operations	`SalesRevenueGoodsNet`	$7.51M	USD	1 Quarter
Golf operations	`SalesRevenueGoodsNet`	$14.30M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$439.25M	USD	2 Qtrs
Revenues	`SalesRevenueNet`	$220.97M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$14.47M	USD	2 Qtrs
Depreciation	`Depreciation`	$922.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.83M	USD	2 Qtrs
Property taxes	`RealEstateTaxExpense`	$36.17M	USD	2 Qtrs
Property taxes	`RealEstateTaxExpense`	$18.93M	USD	1 Quarter
Golf operations	`CostOfGoodsSold`	$8.61M	USD	2 Qtrs
Golf operations	`CostOfGoodsSold`	$4.51M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$61.08M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$31.53M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$189.45M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$378.17M	USD	2 Qtrs
Interest expense	`InterestExpense`	$104.31M	USD	2 Qtrs
Interest expense	`InterestExpense`	$51.44M	USD	1 Quarter
Interest income	`InterestIncomeDepositsWithFinancialInstitutions`	$3.80M	USD	1 Quarter
Interest income	`InterestIncomeDepositsWithFinancialInstitutions`	$5.48M	USD	2 Qtrs
Loss from extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss from extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-23.04M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$256.30M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$141.81M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$832.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$448.00K	USD	1 Quarter
Net income	`ProfitLoss`	$141.36M	USD	1 Quarter
Net income	`ProfitLoss`	$255.46M	USD	2 Qtrs
Less: Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$4.30M	USD	2 Qtrs
Less: Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$2.31M	USD	1 Quarter
Net income attributable to common stockholders	`NetIncomeLoss`	$251.17M	USD	2 Qtrs
Net income attributable to common stockholders	`NetIncomeLoss`	$139.04M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.70	USD	2 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.70	USD	2 Qtrs
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.26	USD	Point-in-time
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.16	USD	Point-in-time
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.42	USD	2 Qtrs
Dividends declared per common share (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.26	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	356.45M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	369.93M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	369.99M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	356.49M	shares	2 Qtrs
Net income attributable to common stockholders	`NetIncomeLoss`	$251.17M	USD	2 Qtrs
Net income attributable to common stockholders	`NetIncomeLoss`	$139.04M	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-4.64M	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-4.64M	USD	2 Qtrs
Comprehensive income attributable to common stockholders	`ComprehensiveIncomeNetOfTax`	$246.53M	USD	2 Qtrs
Comprehensive income attributable to common stockholders	`ComprehensiveIncomeNetOfTax`	$134.40M	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$141.36M	USD	1 Quarter
Net income	`ProfitLoss`	$255.46M	USD	2 Qtrs
Direct financing lease adjustments	`IncreaseDecreaseInLeasingReceivables`	$26.11M	USD	2 Qtrs
Share-based compensation	`ShareBasedCompensation`	$859.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$922.00K	USD	1 Quarter
Depreciation	`Depreciation`	$1.83M	USD	2 Qtrs
Amortization of debt issuance costs and original issue discount	`AmortizationOfFinancingCostsAndDiscounts`	$2.98M	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-23.04M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.68M	USD	2 Qtrs
Accrued interest	`IncreaseDecreaseInInterestPayableNet`	$-7.34M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseinContractwithCustomerLiability`	$3.84M	USD	2 Qtrs
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-4.22M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$246.66M	USD	2 Qtrs
Investments in short-term commercial paper	`PaymentsToAcquireShortTermInvestments`	$39.91M	USD	2 Qtrs
Acquisition of property and equipment, net of change in related payables	`PaymentsToAcquirePropertyPlantAndEquipment`	$557.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-40.46M	USD	2 Qtrs
Proceeds from initial public offering of common stock	`ProceedsFromIssuanceInitialPublicOffering`	$1.31B	USD	2 Qtrs
Payment of Term Loan B Facility	`RepaymentsOfLinesOfCredit`	$100.00M	USD	2 Qtrs
Payment of Revolving Credit Facility	`RepaymentsOfLongTermDebt`	$300.00M	USD	2 Qtrs
Payment of Second Lien Notes	`RepaymentsOfSecuredDebt`	$290.06M	USD	2 Qtrs
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$1.00M	USD	2 Qtrs
Distributions to non-controlling interests	`DistributionstoNonControllingInterests`	$5.84M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividends`	$59.28M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$550.94M	USD	2 Qtrs
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$757.14M	USD	2 Qtrs
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`	$954.55M	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`	$954.55M	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`	$940.74M	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`	$940.74M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$107.82M	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaid`	$1.02M	USD	2 Qtrs
Dividends declared, not paid	`DividendsPayableCurrentAndNoncurrent`	-	USD	Point-in-time
Dividends declared, not paid	`DividendsPayableCurrentAndNoncurrent`	$97.11M	USD	Point-in-time

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Beginning balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.17B	USD	Point-in-time
Net income	`ProfitLoss`	$141.36M	USD	1 Quarter
Net income	`ProfitLoss`	$255.46M	USD	2 Qtrs
Issuance of common stock from Initial Public Offering	`StockIssuedDuringPeriodValueNewIssues`	$1.40B	USD	Point-in-time
Issuance of common stock from Initial Public Offering	`StockIssuedDuringPeriodValueNewIssues`	$1.31B	USD	2 Qtrs
Distributions to non-controlling interests	`MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders`	$5.84M	USD	2 Qtrs
Dividends declared	`DividendsCommonStockCash`	$156.38M	USD	2 Qtrs
Share-based compensation	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$859.00K	USD	2 Qtrs
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-4.64M	USD	1 Quarter
Unrealized loss on cash flow hedges	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-4.64M	USD	2 Qtrs
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$4.78B	USD	Point-in-time
Ending balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.17B	USD	Point-in-time

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