Operating cash flow comfortably covers both growth capex for future attractions and aggressive share buybacks without violating debt covenants, allowing the company to compound per-share value while still investing in the parks. The leverage cushion gives management flexibility to accelerate either use without refinancing risk.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedthree sentences · whole, uncut
the claims it rests on · in our words, not the filing’s