Exhibit 6
MGM MIRAGE
Consolidated Statements of Operations
(for the year ending December 31, in thousands)
Revenues
|
2003
|
2002
|
2001
|
Casino
|
2,075,569
|
2,042,626
|
2,015,960
|
Rooms
|
835,938
|
798,562
|
793,321
|
Food and beverage
|
765,242
|
711,373
|
680,538
|
Entertainment, retail and other
|
647,710
|
637,791
|
620,523
|
|
4,324,459
|
4,190,352
|
4,110,342
|
Less: Promotional allowances
|
(415,643)
|
(398,104)
|
(378,706)
|
|
3,908,816
|
3,792,248
|
3,731,636
|
|
|
|
|
Expenses
|
|
|
|
Casino
|
1,055,536
|
1,019,761
|
1,042,011
|
Rooms
|
236,050
|
212,337
|
216,548
|
Food and beverage
|
441,549
|
396,273
|
379,313
|
Entertainment, retail and other
|
428,834
|
404,158
|
410,125
|
Provision for doubtful accounts
|
12,570
|
27,675
|
70,690
|
General and administrative
|
591,155
|
566,080
|
552,916
|
Corporate expense
|
61,541
|
43,856
|
37,637
|
Preopening and start-up expenses
|
29,266
|
14,141
|
4,130
|
Restructuring costs (credit)
|
6,597
|
(17,021)
|
23,382
|
Property transactions, net
|
-18,336
|
14,712
|
46,062
|
Depreciation and amortization
|
404,597
|
384,890
|
375,945
|
|
3,249,359
|
3,066,862
|
3,158,759
|
Income from unconsolidated affiliates
|
53,612
|
32,361
|
36,816
|
Operating income
|
713,069
|
757,747
|
609,693
|
Non-operating income (expense)
|
|
|
|
Interest income
|
4,310
|
4,306
|
5,630
|
Interest expense, net
|
(341,114)
|
(286,636)
|
(338,783)
|
Non-operating items from unconsolidated affiliates
|
(10,401)
|
(1,335)
|
(914)
|
Other, net
|
(12,160)
|
(7,611)
|
(6,036)
|
Income from continuing operations before taxes
|
353,704
|
466,471
|
269,590
|
Provision for income taxes
|
(116,592)
|
(171,271)
|
(104,402)
|
Income from continuing operations
|
237,112
|
295,200
|
165,188
|
Discontinued operations
|
|
|
|
Income from discontinued operations, net of tax
|
6,585
|
(2,765)
|
4,627
|
|
|
|
|
Net income
|
243,697
|
292,435
|
169,815
|
|
|
|
|
Exhibit 7
MGM MIRAGE
Condensed Statement of Cash Flows
(for the year ending December 31, in thousands)
|
|
|
|
Cash flows from operating activities
|
2003
|
2002
|
2001
|
Net income
|
243,697
|
292,435
|
169,815
|
Depreciation and amortization
|
404,597
|
384,890
|
375,945
|
Other adjustments
|
66,903
|
199,965
|
234,992
|
Net changes in working capital liabilities
|
(27,461)
|
(49,332)
|
15,131
|
|
|
|
|
Net cash provided by operating activities
|
687,736
|
827,958
|
795,883
|
|
|
|
|
|
|
|
|
Cash flows from investing activities
|
|
|
|
Purchases of property and equipment
|
(550,232)
|
(300,039)
|
(327,936)
|
Dispositions of property and equipment
|
56,614
|
20,340
|
26,840
|
Investments in unconsolidated affiliates
|
(41,350)
|
(80,314)
|
(38,250)
|
Other
|
(20,720)
|
(11,197)
|
(12,859)
|
|
|
|
|
Net cash used in investing activities
|
(555,688)
|
(371,210)
|
(352,205)
|
|
|
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
Net borrowing under bank credit facilities
|
(285,087)
|
(270,126
|
(819,704)
|
Issuance of long-term debt
|
600,000
|
—
|
400,000
|
Repurchase of senior notes
|
(28,011)
|
—
|
—
|
Debt issuance costs
|
(25,374)
|
(848
|
(8,529)
|
Issuance of common stock
|
36,254
|
45,985
|
7,837
|
Purchases of treasury stock
|
(442,864)
|
(207,590
|
(45,716)
|
Other
|
(20,153)
|
(21,906
|
3,437
|
|
|
|
|
Net cash used in financing activities
|
(165,235)
|
(454,485
|
(462,675)
|
|
|
|
|
Balance, beginning of year
|
211,234
|
208,971
|
227,968
|
Balance, end of year
|
178,047
|
211,234
|
208,971
|
Net increase (decrease) for the year
|
(33,187)
|
2,263
|
(18,997)
|
|
|
|
| |
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