| (in thousands, except share amounts) As of December 31, | 1998 | 1997 | |||||
|
|
|||||||
| ASSETS | |||||||
| Current Assets | |||||||
| Cash and cash equivalents | $ | 172,921 | $ | 110,793 | |||
| Trade and other receivables, net | 36,532 | 22,628 | |||||
| Inventories | 31,834 | 37,274 | |||||
| Prepaid expenses | 45,044 | 40,450 | |||||
|
|
|||||||
| Total current assets | 286,331 | 211,145 | |||||
| Property and Equipmentat cost less accumulated depreciation and amortization | 5,073,008 | 4,785,291 | |||||
| Goodwillless accumulated amortization of $107,365 and $96,952, respectively | 309,801 | 320,214 | |||||
| Other Assets | 16,936 | 23,098 | |||||
|
|
|||||||
| $ | 5,686,076 | $ | 5,339,748 | ||||
|
|
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| LIABILITIES | |||||||
| Current Liabilities | |||||||
| Current portion of long-term debt | $ | 127,919 | $ | 141,013 | |||
| Accounts payable | 115,833 | 108,474 | |||||
| Accrued liabilities | 243,477 | 210,454 | |||||
| Customer deposits | 402,926 | 429,403 | |||||
|
|
|||||||
| Total current liabilities | 890,155 | 889,344 | |||||
| Long-Term Debt | 2,341,163 | 2,431,683 | |||||
| Commitments and Contingencies (Note 13) | |||||||
| SHAREHOLDERS' EQUITY | |||||||
| Preferred
stock $.01 par value; 20,000,000 shares authorized; cumulative convertible preferred shares issued and outstanding, 3,450,000 shares stated at liquidation value) |
172,500 | 172,500 | |||||
| Common
stock ($.01 par value; 500,000,000 shares authorized 168,945,222 and 162,128,974 shares issued) |
1,690 | 1,621 | |||||
| Paid-in capital | 1,361,796 | 1,188,304 | |||||
| Retained earnings | 923,691 | 660,655 | |||||
| Treasury stock (354,492 and 314,148 common shares at cost) | (4,919) | (4,359) | |||||
|
|
|||||||
| Total shareholders equity | 2,454,758 | 2,018,721 | |||||
|
|
|||||||
| $ | 5,686,076 | $ | 5,339,748 | ||||
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| The accompanying notes are an integral part of these financial statements. | |||||||