The following financial information for each of the five years ended December 31, 2014, 2013, 2012, 2011 and 2010 has been derived from our consolidated financial statements. This selected consolidated financial data should be read together with Item 7—“Management’s Discussion and Analysis of Financial Condition and Results of Operations”, our consolidated financial statements and related notes and other information contained in this Annual Report on Form 10-K. Operating results for the periods presented are not indicative of the results that may be expected for future years.
Years Ended December 31,
2014
2013
2012 (1)
2011
2010 (2)
(in thousands, except per share amounts)
Consolidated Statements of Income Data:
Net revenues
$
5,433,661
$
5,620,936
$
5,154,284
$
5,269,792
$
4,184,698
Pre-opening costs
30,146
3,169
466
—
9,496
Operating income
1,266,278
1,290,091
1,029,276
1,008,240
625,252
Net income
962,644
1,004,157
728,699
825,113
316,596
Less: net income attributable to noncontrolling interest
(231,090
)
(275,505
)
(226,663
)
(211,742
)
(156,469
)
Net income attributable to Wynn Resorts, Limited
731,554
728,652
502,036
613,371
160,127
Basic income per share
$
7.25
$
7.25
$
4.87
$
4.94
$
1.30
Diluted income per share
$
7.18
$
7.17
$
4.82
$
4.88
$
1.29
As of December 31,
2014
2013
2012 (1)
2011
2010
(in thousands, except per share amounts)
Consolidated Balance Sheets Data:
Cash and cash equivalents
$
2,182,164
$
2,435,041
$
1,725,219
$
1,262,587
$
1,258,499
Construction in progress
1,666,326
558,624
110,490
28,477
22,901
Total assets
9,062,861
8,377,030
7,276,594
6,899,496
6,674,497
Total long-term obligations (3)
7,538,605
6,789,145
6,041,285
3,096,149
3,405,983
Stockholders’ equity
211,091
132,351
103,932
2,223,454
2,380,585
Cash distributions declared per common share
$
6.25
$
7.00
$
9.50
$
6.50
$
8.50
(1)
On February 18, 2012, we redeemed and canceled Aruze's 24,549,222 shares of Wynn Resorts common stock. In connection with the redemption and cancellation, stockholders’ equity was reduced by $1.94 billion, the face amount of the Redemption Note. Aruze has challenged the redemption and cancellation of the 24,549,222 shares and legal proceedings are ongoing. Please see Item 3—“Legal Proceedings”.
(2)
On April 21, 2010, we opened Encore at Wynn Macau, a further expansion of Wynn Macau.
(3)
Includes long-term debt, the required contract premium payments under our land concession contract at Wynn Macau, future charitable contributions and deferred income taxes.
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