MGM Growth Properties LLC (MGP) Financial Statements (2024 and earlier)

Company Profile

Business Address 1980 FESTIVAL PLAZA DRIVE
LAS VEGAS, NV 89135
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments    59,817259,722360,492
Cash and cash equivalents    59,817259,722360,492
Total current assets:    59,817259,722360,492
Noncurrent Assets
Operating lease, right-of-use asset 278,102280,565 
Property, plant and equipment    784,295  
Intangible assets, net (including goodwill) 38,29339,86741,440269,12944,58846,161
Goodwill    17,915  
Intangible assets, net (excluding goodwill) 38,29339,86741,440251,21444,58846,161
Total noncurrent assets: 316,395320,43241,4401,053,42444,58846,161
Other undisclosed assets 10,114,71110,279,87411,868,8329,838,06610,046,8109,100,087
TOTAL ASSETS: 10,431,10610,600,30611,910,27210,951,30710,351,1209,506,740
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 41,21733,298 46,18147,06947,957
Deferred income tax liabilities 41,21733,298 
Off-market lease, unfavorable    46,18147,06947,957
Total noncurrent liabilities: 41,21733,298 46,18147,06947,957
Other undisclosed liabilities 5,030,0444,976,2665,012,2605,059,6204,236,3123,850,522
Total liabilities: 5,071,2615,009,5645,012,2605,105,8014,283,3813,898,479
Equity
Equity, attributable to parent 3,156,8232,640,2372,514,8991,565,9711,624,6501,333,817
Additional paid in capital 3,735,7273,114,3312,766,3251,712,6711,716,4901,363,130
Accumulated other comprehensive income (loss) (41,189)(51,197)(7,045)4,2083,108445
Accumulated deficit (537,715)(422,897)(244,381)(150,908)(94,948)(29,758)
Equity, attributable to noncontrolling interest 2,203,0222,950,5054,383,1134,279,5354,443,0894,274,444
Total equity: 5,359,8455,590,7426,898,0125,845,5066,067,7395,608,261
TOTAL LIABILITIES AND EQUITY: 10,431,10610,600,30611,910,27210,951,30710,351,1209,506,740

Income Statement (P&L) ($ in thousands)

3/31/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 782,063792,597881,0781,002,444765,695467,548
Operating leases, income statement, lease revenue746,253
Revenue, net765,695467,548
Cost of revenue (260,843)(455,716)(329,230)(499,820)(383,417)(293,700)
Cost of goods and services sold     (88,254) 
Gross profit: 521,220336,881551,848502,624382,278173,848
Operating expenses (25,555)(17,056)(26,681)(26,865)(29,493)(20,074)
Operating income: 495,665319,825525,167475,759352,785153,774
Nonoperating expense (127,097)(149,720)(258,220)(220,222)(181,889)(116,164)
Investment income, nonoperating 39,6649,009(661)2,5013,907774
Interest and debt expense (265,942)(18,129)(6,161)(2,736)(184,175)(116,212)
Income (loss) from continuing operations before equity method investments, income taxes: 102,626151,976260,786252,801(13,279)(78,602)
Other undisclosed income from continuing operations before income taxes 265,94218,1296,161   
Income (loss) from continuing operations before income taxes: 368,568170,105266,947252,801(13,279)(78,602)
Income tax expense (9,328)(9,734)(7,598)(10,835)(4,906)(2,264)
Income (loss) from continuing operations: 359,240160,371259,349241,966(18,185)(80,866)
Income (loss) before gain (loss) on sale of properties:359,240160,371259,349241,966(18,185)(80,866)
Other undisclosed net income   16,2162,736184,175116,212
Net income: 359,240160,371275,565244,702165,99035,346
Net loss attributable to noncontrolling interest (153,737)(84,242)(185,305)(177,637)(124,215)(5,408)
Net income available to common stockholders, diluted: 205,50376,12990,26067,06541,77529,938

Comprehensive Income ($ in thousands)

3/31/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income: 359,240160,371275,565244,702165,99035,346
Other comprehensive income (loss) 38,578(89,624)(35,198)4,1289,7821,879
Comprehensive income: 397,81870,747240,367248,830175,77237,225
Comprehensive loss, net of tax, attributable to noncontrolling interest (171,250)(29,455)(159,639)(180,665)(131,236)(6,842)
Comprehensive income, net of tax, attributable to parent: 226,56841,29280,72868,16544,53630,383

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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