Boyd Gaming Corporation Financial Statements — BYD Stock

Income Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	2,141	2,331	2,483	2,894	2,142	2,199	2,199	2,401	2,627	3,326	2,178	3,370	3,555	3,738	3,930
- Cost of Revenue	1,189	1,285	1,393	1,587	1,184	1,191	1,187	1,264	1,371	1,736	1,037	1,432	1,565	1,720	1,880
+ Cost of Goods & Services	1,189	1,285	1,393	1,587	1,184	1,191	1,187	1,264	1,371	1,736	1,037	1,432	1,565	1,720	1,880
+ Sales & Services Revenue	2,141	2,331	2,483	2,894	2,142	2,199	2,199	2,401	2,627	3,326	2,178	3,370	3,555	3,738	3,930
Gross Profit	951	1,046	1,090	1,308	958	1,009	1,012	1,137	1,255	1,590	1,141	1,937	1,990	2,019	2,050
- Operating Expenses	757	804	887	1,019	735	719	714	794	899	1,117	952	1,029	968	1,009	1,112
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	32	- -	- -	29
+ Other Operating Expense	388	412	437	529	408	396	391	431	509	560	500	526	488	511	544
+ Selling, General & Admin	369	393	449	490	328	322	322	362	390	557	452	471	481	498	539
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	194	242	203	289	222	290	299	343	356	473	189	908	1,022	1,010	938
- Non-Operating (Income) Loss	174	252	1,342	405	278	286	291	172	201	270	360	304	193	257	186
+ Interest Expense, Net	181	251	289	342	228	223	210	171	200	236	229	198	130	147	176
+ Interest Expense	181	251	290	344	230	225	213	173	204	237	230	199	151	171	177
- Interest Income	- -	- -	1	2	2	2	3	2	4	2	2	2	22	24	2
+ Other Non-Op (Income) Loss	-7	2	1,054	62	50	63	81	1	1	35	131	107	63	109	10
Pretax Income	20	-10	-1,139	-116	-56	4	8	171	155	202	-171	604	829	753	752
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Income Tax Expense (Benefit)	8	- -	-221	3	-5	-7	-200	3	40	44	-36	140	189	133	174
Income (Loss) from Cont Ops	12	-11	-918	-119	-51	11	208	168	115	158	-135	464	639	620	578
- Net Extraordinary Losses (Gains)	4	-11	-24	-67	14	-37	-213	-21	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	3	-5	11	9	37	213	21	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	4	-14	-19	-78	5	-73	-425	-43	-1	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	8	- -	-895	-52	-64	47	420	189	115	158	-135	464	639	620	578
- Minority Interest	-2	4	14	28	-11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	10	-4	-909	-80	-53	47	420	189	115	158	-135	464	639	620	578
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	10	-4	-909	-80	-53	47	420	189	115	158	-135	464	639	620	578
Basic Weighted Avg Shares	87	87	88	97	110	113	115	115	114	113	114	114	109	101	93
Basic EPS, GAAP	0.12	-0.04	-10.37	-0.83	-0.48	0.42	3.67	1.65	1.01	1.39	-1.19	4.07	5.87	6.12	6.19
Basic EPS from Cont Ops	0.14	-0.12	-10.48	-1.23	-0.46	0.09	1.81	1.46	1	1.39	-1.19	4.07	5.87	6.12	6.19
Diluted Weighted Avg Shares	87	87	88	97	110	114	115	116	115	114	114	114	109	101	93
Diluted EPS, GAAP	0.12	-0.04	-10.37	-0.83	-0.48	0.42	3.65	1.64	1	1.38	-1.19	4.07	5.87	6.12	6.19
Diluted EPS from Cont Ops	0.14	-0.12	-10.48	-1.23	-0.46	0.09	1.8	1.45	1	1.38	-1.19	4.07	5.87	6.12	6.19
EBITDA	393	437	417	567	431	497	495	561	586	749	470	1,176	1,280	1,266	1,215
EBITDA Margin (%)	18.37	18.76	16.82	19.59	20.13	22.59	22.5	23.36	22.32	22.52	21.57	34.9	36.01	33.88	30.91
EBITA	194	242	203	289	222	290	299	343	356	473	189	908	1,022	1,010	938
EBIT	194	242	203	289	222	290	299	343	356	473	189	908	1,022	1,010	938
Gross Margin (%)	44.44	44.88	43.9	45.18	44.71	45.86	46.03	47.35	47.79	47.8	52.39	57.49	55.98	53.99	52.16
Operating Margin (%)	9.06	10.38	8.19	9.97	10.38	13.17	13.58	14.3	13.56	14.21	8.67	26.95	28.75	27.01	23.87
Profit Margin (%)	0.48	-0.17	-36.61	-2.77	-2.48	2.15	19.11	7.89	4.38	4.74	-6.18	13.76	17.98	16.58	14.71
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	0.1	0.22	0.26	0.07	- -	0.44	0.63	0.67
Depreciation Expense	199	195	214	278	209	207	196	218	230	277	281	268	258	257	277

Balance Sheet	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	280	343	356	335	242	257	308	329	400	399	650	508	478	529	562
+ Accounts & Notes Receiv	53	62	65	67	28	27	33	46	60	60	53	89	112	141	162
+ Accounts Receivable, Net	48	59	62	66	27	25	30	40	55	55	53	89	109	138	132
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	5	3	3	1	1	1	2	5	5	6	- -	- -	3	4	30
+ Cash, Cash Equivalents & STI	146	179	193	178	145	159	194	203	249	250	519	345	283	304	317
+ Cash & Cash Equivalents	146	179	193	178	145	159	194	203	249	250	519	345	283	304	317
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	16	17	19	20	15	15	19	18	21	22	23	20	22	21	21
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	16	17	19	20	15	15	19	18	21	22	23	20	22	21	21
+ Other ST Assets	65	85	80	70	53	56	63	62	70	67	55	54	61	63	61
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	5,423	5,540	5,977	5,407	4,180	4,094	4,363	4,357	5,357	6,251	5,909	5,716	5,833	5,744	5,830
+ LT Investments & Receivables	5	21	21	- -	223	245	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	5	21	21	- -	223	245	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip, Net	3,472	3,542	3,587	3,506	2,286	2,225	2,605	2,540	2,716	3,609	3,455	3,278	3,225	3,336	3,415
- Accumulated Depreciation	1,828	1,977	2,124	2,298	1,845	1,985	2,132	2,300	2,473	2,636	2,790	2,992	3,150	3,201	3,288
+ Property, Plant & Equip	5,300	5,519	5,711	5,803	4,131	4,210	4,737	4,840	5,189	6,245	6,245	6,271	6,374	6,537	6,703
+ Other LT Assets	1,946	1,977	2,368	1,901	1,672	1,624	1,758	1,817	2,641	2,642	2,454	2,438	2,608	2,408	2,415
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Intangible Assets	674	788	1,815	1,756	1,620	1,575	1,708	1,731	2,529	2,550	2,353	2,340	2,461	2,340	2,349
+ Goodwill	214	214	695	685	685	685	826	888	1,062	1,083	971	971	1,034	947	958
+ Other Intangible Assets	461	574	1,120	1,071	934	890	882	843	1,467	1,467	1,382	1,368	1,427	1,393	1,391
+ Misc LT Assets	1,271	1,189	553	145	52	48	49	86	112	92	101	98	147	68	67
Total Assets	5,703	5,883	6,332	5,742	4,422	4,351	4,671	4,686	5,756	6,650	6,559	6,224	6,311	6,273	6,392
+ Payables & Accruals	343	393	455	417	324	325	335	361	446	442	403	430	453	453	476
+ Other Payables & Accruals	287	290	364	342	239	250	251	255	334	351	306	328	323	329	345
+ Accounts Payable	50	98	91	75	85	76	84	106	111	91	97	102	130	125	131
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	7	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Debt	26	73	287	34	30	30	30	24	24	115	121	127	133	143	147
+ ST Borrowings	26	73	287	34	30	30	30	24	24	27	31	42	44	44	44
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	88	90	85	89	99	103
+ Other ST Liabilities	243	6	9	3	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	6	8	3	3	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	243	- -	1	- -	- -	- -	- -	-19	-22	-23	-16	-15	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	19	22	23	16	15	- -	- -	- -
Total Current Liabilities	612	472	751	454	357	355	366	385	470	557	524	557	586	596	623
+ LT Debt	3,193	3,540	4,828	4,353	3,375	3,240	3,199	3,052	3,955	4,579	4,716	3,806	3,764	3,583	3,784
+ LT Borrowings	3,193	3,540	4,828	4,353	3,375	3,240	3,199	3,052	3,955	3,739	3,867	2,990	3,005	2,871	3,133
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	840	849	816	758	711	652
+ Other LT Liabilities	491	497	287	284	252	248	172	151	186	249	195	322	371	350	403
+ Accrued Liabilities	405	380	140	155	142	162	84	87	121	163	131	265	319	289	347
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	86	117	147	129	110	86	88	65	65	86	64	58	52	61	56
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	3,684	4,037	5,115	4,637	3,627	3,488	3,371	3,203	4,141	4,828	4,911	4,128	4,134	3,933	4,188
Total Liabilities	4,296	4,509	5,865	5,091	3,984	3,843	3,737	3,589	4,611	5,385	5,435	4,685	4,721	4,529	4,810
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	636	645	657	904	923	946	955	933	893	885	878	829	306	1	1
+ Additional Paid in Capital	635	644	656	902	922	945	953	932	892	884	876	828	305	- -	- -
+ Common Stock	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	561	557	-352	-432	-485	-438	-20	164	253	381	246	710	1,286	1,744	1,583
+ Other Equity	-8	- -	-1	-2	- -	- -	-1	- -	-1	-1	- -	- -	-1	-1	-2
Equity Before Minority Interest	1,189	1,202	304	470	438	508	934	1,097	1,146	1,265	1,124	1,539	1,591	1,744	1,582
+ Minority/Non Controlling Interest	217	172	163	180	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,406	1,374	467	650	438	508	934	1,097	1,146	1,265	1,124	1,539	1,591	1,744	1,582
Total Liabilities & Equity	5,703	5,883	6,332	5,742	4,422	4,351	4,671	4,686	5,756	6,650	6,559	6,224	6,311	6,273	6,392
Shares Outstanding	86	87	87	108	109	112	113	113	112	112	112	111	103	97	86
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	928	939	901	847	810	755
Net Debt	3,073	3,434	4,922	4,209	3,260	3,111	3,036	2,873	3,730	3,516	3,378	2,687	2,766	2,611	2,860
Net Debt to Equity	218.53	249.94	1,053.67	647.05	744.03	612.33	324.97	261.82	325.54	277.89	300.58	174.63	173.89	149.72	180.83
Tangible Common Equity Ratio	14.56	11.51	-29.83	-27.74	-42.15	-38.46	-26.14	-21.45	-42.85	-31.34	-29.24	-20.62	-22.6	-15.16	-18.98
Current Ratio	0.46	0.73	0.47	0.74	0.68	0.72	0.84	0.85	0.85	0.72	1.24	0.91	0.82	0.89	0.9
Cash Conversion Cycle	-3.67	-7.83	-11.2	-6.72	-11.56	-15.6	-14.67	-16.85	-17.15	-10.74	-16.1	-12.2	-11.89	-10.44	-8.22
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	12	-11	-918	-119	-51	11	208	168	115	158	-135	464	639	620	578
+ Depreciation & Amortization	199	195	214	278	209	207	196	218	230	277	281	268	258	257	277
+ Non-Cash Items	10	34	871	130	91	119	-95	31	71	145	212	342	180	164	203
+ Asset Impairment Charge	- -	3	1,054	12	49	19	38	- -	1	- -	175	8	41	108	10
+ Deferred Income Taxes	6	-2	-215	3	-1	17	-201	5	34	41	-32	134	51	-30	58
+ Other Non-Cash Adj	-7	24	19	96	24	64	53	8	10	78	60	162	55	54	104
+ Stock-Based Compensation	11	10	12	19	18	19	16	17	25	25	9	38	34	32	30
+ Chg in Non-Cash Work Cap	48	32	-19	-12	41	-11	-8	6	19	-30	-69	-63	-102	-127	-100
+ (Inc) Dec in Accts Receiv	12	-10	6	-7	6	4	-1	-10	-1	- -	1	-36	-17	-29	6
+ Inc (Dec) in Accts Payable	38	37	-12	-31	29	13	-12	13	18	-1	-30	15	1	-10	6
+ (Inc) Dec in Inventories	-1	- -	1	-1	- -	- -	1	1	2	-2	-1	3	-2	1	-1
+ (Inc) Dec in Prepaid Assets	-3	-4	7	6	2	-4	2	5	4	-1	6	-2	-8	-10	3
+ Inc (Dec) in Other	2	8	-21	22	4	-23	2	-3	-5	-25	-46	-43	-75	-78	-115
+ Net Cash From Disc Ops	- -	3	-5	-2	33	14	-28	-1	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	269	254	142	275	323	340	273	422	435	549	289	1,010	976	915	957
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-24	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	-24	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	26	-278	-1,324	344	- -	- -	-593	-1	-934	-6	-11	- -	-168	- -	-30
+ Cash for Acq of Subs	- -	-278	-1,324	- -	- -	- -	-593	-1	-934	-6	-11	- -	-168	- -	-30
+ Cash from Divestitures	26	- -	- -	344	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-74	-60	-111	-267	-180	-127	452	-189	-201	-226	-160	-130	-254	-264	-404
+ Net Cash From Disc Ops	- -	- -	- -	57	-36	- -	598	36	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-49	-363	-1,435	76	-180	-127	-141	-190	-1,135	-231	-171	-130	-422	-264	-434
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	-11	-25	-29	-8	- -	-48	-64	-63
+ Net Cash From Debt	-18	158	1,372	-550	-140	-165	-40	-161	850	-216	-219	-907	20	-142	254
+ Cash From Debt	2,574	1,140	2,994	4,096	1,148	2,129	3,026	958	1,815	2,666	2,530	900	2,122	1,506	1,764
+ Repayments of Debt	-2,591	-981	-1,622	-4,646	-1,288	-2,294	-3,066	-1,119	-964	-2,882	-2,749	-1,807	-2,102	-1,647	-1,510
+ Cash (Repurchase) of Equity	- -	- -	- -	216	-2	- -	- -	-32	-60	-28	-11	-81	-542	-413	-686
+ Decrease in Capital Stock	- -	- -	- -	- -	-2	- -	- -	-32	-60	-28	-11	-81	-542	-413	-686
+ Increase in Capital Stock	- -	- -	- -	216	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Financing Activities	-150	-16	-66	-33	-33	-35	-59	-11	-20	-48	385	-71	-46	-19	-15
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-168	142	1,307	-366	-175	-200	-99	-215	746	-320	147	-1,059	-616	-637	-510
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	52	33	14	-15	-32	13	32	17	46	-3	265	-178	-62	13	14
Capital Expenditures	- -	-24	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	393	437	417	567	431	497	495	561	586	749	470	1,176	1,280	1,266	1,215
EBITDA Margin (%)	18.37	18.76	16.82	19.59	20.13	22.59	22.5	23.36	22.32	22.52	21.57	34.9	36.01	33.88	30.91
Net Cash Paid for Acquisitions	-26	278	1,324	-344	- -	- -	593	1	934	6	11	- -	168	- -	30
Free Cash Flow	269	229	142	275	323	340	273	422	435	549	289	1,010	976	915	957
Free Cash Flow to Firm	377	- -	- -	- -	- -	- -	- -	592	586	734	- -	1,164	1,093	1,056	1,093
Free Cash Flow to Equity	252	412	1,515	-275	183	175	233	261	1,285	333	70	104	996	773	1,211
Free Cash Flow per Basic Share	3.11	2.62	1.63	2.83	2.94	3.01	2.38	3.67	3.8	4.84	2.55	8.87	8.96	9.03	10.26
Price/Free Cash Flow	3.23	2.22	3.86	3.77	4.12	6.29	8.07	9.14	5.28	6.02	16.33	7.17	5.96	6.86	7.08
Cash Flow to Net Income	26.13	-65.78	-0.16	-3.42	-6.09	7.19	0.65	2.23	3.78	3.48	-2.15	2.18	1.53	1.47	1.66

Boyd Gaming Corporation

Income Statement

Balance Sheet

Cash Flow Statement