Caesars Acquisition Co

CIK:0001575879|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)/INCOME (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Revenues	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Operating expenses	8.0	7.3	17.3	13.9
Loss from operations	(8.0)	(7.3)	(17.3)	(13.9)
Income from equity method investment in Caesars Growth Partners, LLC	4.7	24.4	18.5	48.8
(Loss)/income before benefit from/(provision for) income taxes	(3.3)	17.1	1.2	34.9
Benefit from/(provision for) for income taxes	0.6	(8.6)	(1.9)	(17.2)
Net (loss)/income	(2.7)	8.5	(0.7)	17.7
Other comprehensive income	0.0	0.0	0.0	0.0
Comprehensive (loss)/income	$ (2.7)	$ 8.5	$ (0.7)	$ 17.7
(Loss)/earnings per share
Basic (usd per share)	$ (0.02)	$ 0.06	$ (0.01)	$ 0.13
Diluted (usd per share)	$ (0.02)	$ 0.06	$ (0.01)	$ 0.13
Weighted average common shares outstanding
Basic (shares)	138.9	137.4	138.8	137.4
Diluted (shares)	138.9	137.6	138.8	137.6

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net (loss)/income	$ (0.7)	$ 17.7
Adjustments to reconcile net (loss)/income to cash flows provided by operating activities
Income from equity method investment in Caesars Growth Partners, LLC	(18.5)	(48.8)
Distributions from equity method investee Caesars Growth Partners, LLC	18.5	12.3
Stock-based compensation	2.8	2.3
Deferred income taxes	26.3	13.9
Net change in long-term accounts	1.8	0.0
Change in assets and liabilities:
Prepayments and other current assets	0.7	4.4
Accrued income taxes	(28.5)	(0.1)
Cash flows provided by operating activities	2.4	1.7
Cash flows provided by investing activities	0.0	0.0
Cash flows from financing activities
Proceeds from issuance of common stock	4.3	0.0
Cash flows provided by financing activities	4.3	0.0
Net increase in cash and cash equivalents	6.7	1.7
Cash and cash equivalents, beginning of period	27.5	19.1
Cash and cash equivalents, end of period	$ 34.2	$ 20.8

CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 34.2	$ 27.5
Receivable from related party	20.9	45.8
Prepayments and other current assets	1.1	1.8
Total current assets	56.2	75.1
Equity method investment in Caesars Growth Partners, LLC	1,629.8	1,605.8
Deferred tax assets	114.3	140.6
Total assets	1,800.3	1,821.5
Liabilities and Stockholders' Equity
Accrued income taxes	0.0	28.5
Total current liabilities	0.0	28.5
Deferred credits and other	96.0	94.2
Total liabilities	96.0	122.7
Commitments and contingencies (Note 6)
Stockholders' Equity
Common stock: $0.001 par value; 300,000,000 Class A shares and 900,000,000 Class B shares authorized at June 30, 2017 and December 31, 2016; 138,984,958 and 138,458,000 Class A shares issued and outstanding, respectively	0.1	0.1
Additional paid-in capital	1,034.7	1,028.5
Retained earnings	669.5	670.2
Total stockholders' equity	1,704.3	1,698.8
Total liabilities and stockholders' equity	$ 1,800.3	$ 1,821.5