Cash Flow Statement
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Paying user area
Try for free
Las Vegas Sands Corp. pages available for free this week:
- Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Las Vegas Sands Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Las Vegas Sands Corp., consolidated cash flow statement
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Net Income from Continuing Operations
- The net income showed a declining trend over the period under review, starting from a positive $2951 million in 2018 and increasing slightly to $3304 million in 2019. However, there was a significant deterioration in 2020 with a loss of $2143 million, which continued with losses of $1469 million and $1541 million in 2021 and 2022, respectively.
- Depreciation and Amortization
- Depreciation and amortization expenses remained relatively stable, ranging from $1036 million to $1165 million, with a slight decrease noted from 2020 onwards.
- Other Amortization Expenses
- Amortization of leasehold interests in land and deferred financing costs showed minor fluctuations but remained within a consistent range. Notably, amortization of deferred financing costs increased steadily from $35 million in 2018 to $57 million in 2022.
- Impairments and Losses
- The company recorded a decreasing loss on disposal or impairment of assets, from $149 million in 2018 down to $7 million in 2022, suggesting improved asset management or fewer asset disposals. Additionally, losses related to debt modifications and early retirements were sporadic and peaked in 2021 with $137 million.
- Stock-Based Compensation and Provisions
- Stock-based compensation expense fluctuated but generally increased, peaking at $39 million in 2022. The provision for credit losses spiked in 2020 to $99 million, likely reflecting increased credit risk during that period, then normalized in following years.
- Foreign Exchange and Tax Items
- Foreign exchange impacts varied but tended toward small gains or losses each year. Deferred income taxes showed variability, including negative values in 2020 and 2021. A significant tax impact of -$750 million was recorded in 2022 related to a gain on a sale.
- Changes in Working Capital
- Operating assets and liabilities showed considerable volatility, with large negative changes in 2019 and 2020, and a positive reversal in 2022, reflecting fluctuations in accounts receivable, payable, and other liabilities.
- Operating Cash Flow
- Net cash generated from operating activities declined sharply, turning negative in 2020 and remaining negative through 2022, which aligns with net income losses in the same period. Adjustments to reconcile net income to cash flow were positive in all years except 2019, assisting to partially offset operating losses.
- Investing Activities
- Capital expenditures consistently exceeded proceeds from asset disposals, resulting in net cash outflows from investing activities every year. There was a marked reduction in capital expenditures after 2020, declining from -$1330 million to -$651 million by 2022. Proceeds from loan receivables and other sales were minimal but positive in recent years.
- Financing Activities
- Financing activities were highly variable. Early years showed repayments exceeding proceeds, with significant common stock repurchases in 2018 and 2019. The company increased long-term debt proceeds in 2018 and 2019, with declining repayments from 2020 onward. In 2022, there was a large net cash inflow from financing activities totaling $6154 million, driven primarily by transactions with discontinued operations and additional long-term debt proceeds.
- Liquidity Position
- Cash and cash equivalents showed fluctuations, peaking at $4661 million in 2018 before declining to $1925 million in 2021. There was a strong recovery in 2022, with cash balances increasing to $6436 million, supported by positive financing inflows and improvements in operating cash flow after adjustments.
- General Observations
- The company experienced a significant financial downturn starting in 2020, reflected in losses from continuing operations and negative operating cash flow. Despite continuing capital expenditures, the company managed to reduce the magnitude of investments and impairments over time. The increase in long-term financing in the later years helped restore liquidity substantially by 2022. The data reflects considerable impacts from discontinued operations and strategic financial restructuring in recent periods.