4 unchanged sentences
We currently do not pay a dividend.
−Removed: In connection with Amendment No.
−Removed: 12 to our Amended Credit Agreement, we are restricted from paying any dividends or making restricted payments, including share repurchases, through the third quarter of 2022 unless certain conditions are met.
−Removed: See Note 11–Long-Term Debt in the notes to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
Stock Price Performance
24 unchanged sentences
Announced Plans
+Added: or Programs ( 2)
Maximum Number
11 unchanged sentences
December 31, 2021
−Removed: All purchases were made pursuant to our Omnibus Incentive Plan, under which participants may satisfy tax withholding obligations incurred upon the vesting of restricted stock by requesting that we withhold shares with a value equal to the amount of the withholding obligation.
+Added: Except for the 2,158,796 shares of our common stock repurchased as described in footnote (2) below, all other purchases were made pursuant to our Omnibus Incentive Plan, under which participants may satisfy tax withholding obligations incurred upon the vesting of restricted stock by requesting that we withhold shares with a value equal to the amount of the withholding obligation.
Our Board of Directors previously authorized a share repurchase program of up to $250.0 million of our common stock (the “Share Repurchase Program”).
Under the Share Repurchase Program, we are authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act.
−Removed: Through December 31, 2020, prior to the COVID-19 temporary park closures, we repurchased an aggregate total of approximately $12.4 million, leaving approximately $237.6 million available under the Share Repurchase Program as of December 31, 2020.
+Added: Pursuant to the Share Repurchase Program, during the quarter ended December 31, 2021, we repurchased a total of 2,158,796 shares of common stock at a total cost of approximately $133.0 million, leaving approximately $21.8 million available under the Share Repurchase Program as of December 31, 2021.
All of the common stock is held as treasury shares as of December 31, 2021.
−Removed: In connection with Amendment No.
−Removed: 12 to our Amended Credit Agreement, we are restricted from making restricted payments, including share repurchases, through the third quarter of 2022 unless certain conditions are met.
−Removed: See Note 11–Long-Term Debt in the notes to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
−Removed: Selected Financial Data
−Removed: The following tables set forth our selected historical consolidated financial and operating data as of the dates and for each of the fiscal years ended December 31, 2020, 2019, 2018, 2017 and 2016.
−Removed: The selected financial data as of December 31, 2020 and 2019 and for each of the fiscal years ended December 31, 2020, 2019 and 2018 has been derived from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
−Removed: The selected financial data as of December 31, 2018, 2017 and 2016 and for the fiscal years ended December 31, 2017 and 2016 have been derived from our audited consolidated financial statements not included in this Annual Report on Form 10-K.
−Removed: The following tables should be read in conjunction with “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ” and the consolidated financial statements and the notes thereto included in “ Financial Statements and Supplementary Data .” The COVID-19 pandemic has materially impacted our revenue and results of operations for the year ended December 31, 2020.
−Removed: See the “ Business” and “ Risk Factors ” sections included elsewhere in this Annual Report on Form 10-K for further discussion of the adverse impacts of the COVID-19 pandemic on our business.
−Removed: SEAWORLD ENTERTAINMENT, INC.
−Removed: AND SUBSIDIARIES
−Removed: SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA
−Removed: Year Ended December 31,
−Removed: Selected Statements of Comprehensive (Loss) Income Data:
−Removed: (In thousands, except per share and per capita amounts)
−Removed: Net revenues:
−Removed: Food, merchandise and other
−Removed: Total revenues
−Removed: Costs and expenses:
−Removed: Cost of food, merchandise and other revenues
−Removed: Operating expenses (exclusive of depreciation and
−Removed: amortization shown separately below)
−Removed: Selling, general and administrative expenses
−Removed: Goodwill impairment charge
−Removed: Severance and other separation costs (a)
−Removed: Depreciation and amortization
−Removed: Total costs and expenses
−Removed: Operating (loss) income
−Removed: Other expense (income), net
−Removed: Interest expense
−Removed: Loss on early extinguishment of debt and write-off
−Removed: of discounts and debt issuance costs
−Removed: (Loss) income before income taxes
−Removed: (Benefit from) provision for income taxes
−Removed: Net (loss) income
−Removed: Per share data:
−Removed: (Loss) earnings per share, basic
−Removed: (Loss) earnings per share, diluted
−Removed: Cash dividends declared per share
−Removed: Weighted average common shares outstanding:
−Removed: Other financial and operating data:
−Removed: Cash capital expenditures
−Removed: Total revenue per capita (b)
−Removed: As of December 31,
−Removed: Consolidated balance sheet data:
−Removed: (In thousands)
−Removed: Cash and cash equivalents
−Removed: Total assets (c)
−Removed: Total long-term debt, net
−Removed: Total (deficit) equity
−Removed: During the year ended December 31, 2016, $2.6 million of separation costs have been reclassified to severance and other separation costs to conform with the 2020 presentation.
−Removed: Calculated as total revenue divided by total attendance.
−Removed: Total assets as of December 31, 2020 and 2019 includes the impact from the adoption of Accounting Standards Codification (“ASC”) 842, Leases , which required right of use assets associated with the Company’s leases to be recorded on the balance sheet.
−Removed: Right of use assets–operating leases of approximately $136.6 million and $141.4 million are included in total assets as of December 31, 2020 and 2019, respectively.
+Added: The number of shares to be purchased and the timing of purchases will be based on our trading windows and available liquidity, general business and market conditions and other factors, including legal requirements and alternative opportunities.
+Added: See Note 20–Stockholders’ (Deficit) Equity in the notes to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further information on the Share Repurchase Program.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.