Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 18

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 March 31,20252024Operating activities  Net income$170,354 $179,526 Adjustments to reconcile net income to net cash provided by operating activities:  Depreciation and amortization69,282 68,636 Amortization of debt issuance costs, bond premiums and original issuance discounts3,232 2,684 Accretion on financing receivables(6,896)(7,884)Accretion on held to maturity investment securities10,837 (2,269)Non-cash adjustment to financing lease liabilities98 117 Gains from dispositions of property(125)— Stock-based compensation8,858 8,122 Straight-line rent and deferred rent adjustments(8,412)(15,790)Provision (benefit) for credit losses, net39,246 23,294 (Increase), decrease  Other assets1,269 (1,968)Increase, (decrease)  Accounts payable and accrued expenses344 (509)Accrued interest(32,599)4,282 Accrued salaries and wages(4,925)(5,692)Other liabilities1,929 5,323 Net cash provided by operating activities252,492 257,872 Investing activities  Capital project expenditures(12,871)(13)Capital maintenance expenditures(36)(90)Proceeds from sales of property, net of costs125 — Investment in leases, financing receivables— (93,323)Originations of real estate loans(3,209)(14,000)Acquisition of held to maturity investment securities — (340,975)Maturities of held to maturity investment securities549,995 — Net cash provided by (used in) investing activities534,004 (448,401)Financing activities  Dividends paid(209,061)(206,578)Non-controlling interest distributions(6,341)(6,147)Taxes paid related to shares withheld for tax purposes on restricted stock award vestings(14,805)(14,711)Proceeds from issuance of common stock, net— 9,016 Financing costs8 — Repayments of long-term debt(850,054)(63,501)Net cash used in financing activities(1,080,253)(281,921)Net decrease in cash and cash equivalents(293,757)(472,450)Cash and