Red Rock Resorts, Inc. (RRR) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1505 SOUTH PAVILION CENTER DRIVE LAS VEGAS, NV 89135 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7011 - Hotels and Motels (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 117 | 275 | 121 | 129 | 115 | 231 | |||
| Cash and cash equivalents | 117 | 275 | 121 | 129 | 115 | 231 | |||
| Restricted cash and investments | 5 | 4 | 4 | 3 | |||||
| Receivables | 44 | 37 | 35 | 57 | 51 | 49 | |||
| Inventory, net of allowances, customer advances and progress billings | 13 | 12 | 13 | 18 | 15 | 13 | |||
| Inventory | 13 | 12 | 13 | 18 | 15 | 13 | |||
| Prepaid expense | 23 | 27 | 24 | 24 | 23 | 22 | |||
| Asset, held-for-sale, not part of disposal group | 58 | 37 | 32 | 20 | 4 | ||||
| Other undisclosed current assets | 24 | 20 | 14 | 18 | 34 | 20 | |||
| Total current assets: | 221 | 429 | 249 | 282 | 262 | 342 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 31 | 21 | 13 | ✕ | ✕ | ||||
| Property, plant and equipment | 2,195 | 2,010 | 2,858 | 3,062 | 3,012 | 2,542 | |||
| Long-term investments and receivables | 6 | 8 | 9 | 9 | 10 | ||||
| Long-term investments | 6 | 8 | 9 | 9 | 10 | ||||
| Intangible assets, net (including goodwill) | 280 | 283 | 296 | 304 | 313 | 324 | |||
| Goodwill | 196 | 196 | 196 | 196 | 196 | 196 | |||
| Intangible assets, net (excluding goodwill) | 84 | 87 | 101 | 109 | 117 | 128 | |||
| Restricted cash and investments | 32 | ||||||||
| Deferred income tax assets | 76 | 99 | ✕ | ✕ | |||||
| Other noncurrent assets | 83 | 93 | 72 | 87 | 90 | 75 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | 112 | 132 | ||
| Other undisclosed noncurrent assets | 460 | 168 | 256 | 357 | 212 | 194 | |||
| Total noncurrent assets: | 3,125 | 2,711 | 3,491 | 3,833 | 3,748 | 3,278 | |||
| TOTAL ASSETS: | 3,346 | 3,140 | 3,740 | 4,114 | 4,010 | 3,620 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 246 | 179 | 177 | 242 | 300 | 209 | |||
| Interest and dividends payable | ✕ | ✕ | 14 | 20 | 7 | 7 | 11 | ||
| Accounts payable | 11 | 17 | 11 | 34 | 26 | 22 | |||
| Accrued liabilities | 235 | 147 | 146 | 201 | 266 | 177 | |||
| Debt | 26 | 26 | 23 | 34 | 34 | 30 | |||
| Other undisclosed current liabilities | 21 | 0 | |||||||
| Total current liabilities: | 293 | 205 | 200 | 276 | 334 | 239 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,959 | 2,849 | 2,879 | 3,010 | 2,821 | 2,588 | |||
| Long-term debt, excluding current maturities | 2,959 | 2,828 | 2,879 | 2,999 | 2,821 | 2,588 | |||
| Liabilities, other than long-term debt | 40 | 31 | 30 | 36 | 15 | 16 | |||
| Liability, pension and other postretirement and postemployment benefits | 1 | 5 | 5 | 5 | |||||
| Other liabilities | 40 | 31 | 28 | 31 | 10 | 11 | |||
| Operating lease, liability | 22 | 11 | ✕ | ✕ | |||||
| Other undisclosed noncurrent liabilities | 22 | 5 | 26 | 10 | 23 | 139 | |||
| Total noncurrent liabilities: | 3,020 | 2,885 | 2,935 | 3,056 | 2,859 | 2,743 | |||
| Total liabilities: | 3,314 | 3,090 | 3,135 | 3,332 | 3,193 | 2,982 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 44 | 59 | 353 | 501 | 520 | 382 | |||
| Additional paid in capital | 55 | 386 | 376 | 362 | 353 | ||||
| Accumulated other comprehensive income (loss) | (1) | (1) | 1 | 2 | |||||
| Retained earnings (accumulated deficit) | 43 | 4 | (33) | 124 | 156 | 26 | |||
| Other undisclosed equity, attributable to parent | 1 | 1 | 1 | 1 | 1 | 1 | |||
| Equity, attributable to noncontrolling interest | (12) | (9) | 252 | 282 | 297 | 255 | |||
| Total equity: | 32 | 50 | 605 | 783 | 817 | 637 | |||
| TOTAL LIABILITIES AND EQUITY: | 3,346 | 3,140 | 3,740 | 4,114 | 4,010 | 3,620 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,664 | 1,618 | 1,182 | 1,857 | 1,681 | 1,616 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | 1,681 | 1,616 | |
| Cost of revenue | (748) | (867) | (763) | (1,223) | (870) | (850) | ||
| Cost of goods and services sold | (746) | (700) | ||||||
| Other undisclosed gross profit | ||||||||
| Gross profit: | 916 | 750 | 419 | 634 | 811 | 765 | ||
| Operating expenses | (355) | (349) | (331) | (448) | (439) | (435) | ||
| Operating income: | 561 | 402 | 89 | 186 | 372 | 330 | ||
| Nonoperating expense | (130) | (119) | (150) | (196) | (131) | (134) | ||
| Investment income, nonoperating | (80) | (0) | (22) | (19) | 12 | 14 | ||
| Interest and debt expense | (130) | (13) | 0 | (20) | (143) | (17) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 302 | 269 | (61) | (30) | 98 | 179 | ||
| Income from equity method investments | 3 | 3 | 1 | 2 | 2 | |||
| Other undisclosed income (loss) from continuing operations before income taxes | 130 | 13 | (0) | 20 | 143 | 19 | ||
| Income (loss) from continuing operations before income taxes: | 435 | 286 | (60) | (8) | 243 | 198 | ||
| Income tax expense (benefit) | (45) | 69 | (114) | 2 | (24) | (135) | ||
| Income (loss) from continuing operations: | 390 | 355 | (175) | (7) | 219 | 63 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 361 | (175) | (7) | 219 | 63 | ||
| Income from discontinued operations | 6 | |||||||
| Other undisclosed net loss | (6) | |||||||
| Net income (loss): | 390 | 355 | (175) | (7) | 219 | 63 | ||
| Net income (loss) attributable to noncontrolling interest | (185) | (113) | 24 | 3 | (62) | (28) | ||
| Net income (loss) available to common stockholders, basic: | 205 | 242 | (150) | (3) | 158 | 35 | ||
| Dilutive securities, effect on basic earnings per share | 146 | 89 | 49 | (14) | ||||
| Net income (loss) available to common stockholders, diluted: | 352 | 331 | (150) | (3) | 206 | 21 | ||
Comprehensive Income ($ in millions)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 390 | 355 | (175) | (7) | 219 | 63 | ||
| Other comprehensive income (loss) | 1 | (1) | (3) | (3) | (1) | |||
| Comprehensive income (loss): | 390 | 356 | (175) | (10) | 217 | 62 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (185) | (114) | 25 | 5 | (61) | (27) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 205 | 242 | (150) | (5) | 156 | 35 | ||
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.