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Stockholders' Equity | 3 Months Ended
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Mar. 31, 2019
Equity [Abstract] |
Stockholders' Equity | NOTE 10 — STOCKHOLDERS’ EQUITY Empire City transaction. As further discussed in Note 12, in January 2019, MGP acquired the developed real property associated with Empire City from the Company for consideration that included the issuance of approximately 13 million Operating Partnership units to a subsidiary of the Company. The Company adjusted the carrying value of the noncontrolling interests for the change in noncontrolling interests ownership percentage of the Operating Partnership’s net assets, with offsetting adjustments to capital in excess of par value and accumulated other comprehensive income. Subsequent to the Empire City transaction, the Company indirectly owned 74.6% of the partnership units in the Operating Partnership. MGP Class A share issuance. In January 2019, MGP completed an offering of approximately 20 million of its Class A shares. In connection with the offering, the Operating Partnership issued 20 million Operating Partnership units to MGP. The Company has adjusted the carrying value of the noncontrolling interests as a result of MGP’s Class A share issuance to adjust for the change in noncontrolling interests ownership percentage of the Operating Partnership’s net assets, with offsetting adjustments to capital in excess of par value and accumulated other comprehensive income. Subsequent to MGP’s issuance of the incremental shares, the Company indirectly owned 69.7% of the partnership units in the Operating Partnership. Park MGM Lease Transaction. As further discussed in Note 12, in March 2019, the Company and MGP completed the Park MGM Lease Transaction for which consideration included the issuance of approximately 1 million Operating Partnership units to a subsidiary of the Company. The Company has adjusted the carrying value of the noncontrolling interests for the change in noncontrolling interests ownership percentage of the Operating Partnership’s net assets, with offsetting adjustments to capital in excess of par value and accumulated other comprehensive income. Subsequent to the issuance of the incremental shares, the Company indirectly owned 69.8% of the partnership units in the Operating Partnership. Northfield OpCo transaction. As further discussed in Note 12, in April 2019, the Company acquired the membership interests of Northfield from MGP for consideration of approximately 9 million Operating Partnership units that were ultimately redeemed by the Operating Partnership and MGP retained the real estate assets. The Company will account for such transaction, which reduces its ownership in the Operating Partnership to 68.8%, within the second quarter 2019. MGM Resorts International dividends. On April 29, 2019 the Company’s Board of Directors approved a quarterly dividend of $0.13 per share that will be payable on June 14, 2019 to holders of record on June 10, 2019. MGM Resorts International stock repurchase program. In May 2018, the Company’s Board of Directors authorized a $2.0 billion stock repurchase program and completed the previously announced $1.0 billion stock repurchase program. Under each stock repurchase program, the Company may repurchase shares from time to time in the open market or in privately negotiated agreements. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The timing, volume and nature of stock repurchases will be at the sole discretion of management, dependent on market conditions, applicable securities laws, and other factors, and may be suspended or discontinued at any time. There were no repurchases made during the three months ended March 31, 2019. The remaining availability under the $2.0 billion stock repurchase program was approximately $1.4 billion as of March 31, 2019. During the three months ended March 31, 2018, the Company repurchased 10 million shares of its common stock at $36.24 per share for an aggregate amount of $362 million. Repurchased shares were retired. Accumulated other comprehensive income. Changes in accumulated other comprehensive income attributable to MGM Resorts International are as follows:
| Currency Translation |  |  | Cash Flow |  |  |  |  |  |  |  |  |
| Adjustments |  |  | Hedges |  |  | Other |  |  | Total |
| (In thousands) |
Balance, January 1, 2019 | $ | (18,872 | ) |  | $ | 9,144 |  |  | $ | 1,172 |  |  | $ | (8,556 | )
Other comprehensive income (loss) before reclassifications |  | (12,405 | ) |  |  | (11,476 | ) |  |  | — |  |  |  | (23,881 | )
Amounts reclassified from accumulated other comprehensive income (loss) to interest expense |  | — |  |  |  | (1,847 | ) |  |  | — |  |  |  | (1,847 | )
Empire City MGP transaction |  | — |  |  |  | — |  |  |  | 195 |  |  |  | 195 |
MGP Class A share issuance |  | — |  |  |  | — |  |  |  | (774 | ) |  |  | (774 | )
Park MGM Transaction |  | — |  |  |  | — |  |  |  | 16 |  |  |  | 16 |
Other |  | — |  |  |  | — |  |  |  | 23 |  |  |  | 23 |
Other comprehensive income (loss), net of tax |  | (12,405 | ) |  |  | (13,323 | ) |  |  | (540 | ) |  |  | (26,268 | )
Less: Other comprehensive (income) loss attributable to noncontrolling interest |  | 5,499 |  |  |  | 4,717 |  |  |  | — |  |  |  | 10,216 |
Balance, March 31, 2019 | $ | (25,778 | ) |  | $ | 538 |  |  | $ | 632 |  |  | $ | (24,608 | )

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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