Company: GLPI
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001575965-25-000045
Chunk: 19

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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— — 184,694 5,406 190,100 Balance, September 30, 2024274,391,553 $2,744 $6,204,578 $(1,952,445)$369,875 $4,624,752 

See accompanying notes to the condensed consolidated financial statements.

6

Gaming and Leisure Properties, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

Nine months ended September 30,20252024Operating activities  Net income$575,000 $584,038 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation and amortization214,530 205,221 Amortization of items charged to interest expense9,884 8,172 Amortization of gain on cash flow hedges(9)— Accretion on financing receivables(20,753)(21,753)Accretion on held to maturity investment securities10,837 (4,111)Non-cash adjustment to financing lease liabilities317 358 Gains from dispositions of property(125)(3,790)Stock-based compensation16,565 19,010 Straight-line rent and deferred rent adjustments(20,235)(46,262)Losses on debt extinguishment 3,783 — Provision (benefit) for credit losses, net55,611 47,194 Proceeds from swap termination967 — Change in operating assets and liabilities  Other assets(17,401)(24,404)Accounts payable and accrued expenses1,146 (636)Accrued interest(50,729)12,545 Accrued salaries and wages1,292 (2,278)Other liabilities5,493 7,053 Net cash provided by operating activities786,173 780,357 Investing activities  Capital project and maintenance expenditures(57,451)(15,935)Proceeds from sales of property, net of costs125 1,798 Fundings for the Tropicana Las Vegas Lease— (48,550)Investment in leases, financing receivables— (203,486)Acquisition of real estate, net (135,000)(237,249)Originations of real estate loans(24,186)(123,730)Acquisition of held to maturity investment securities