Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of Condensed Consolidating Balance Sheet Information

CONDENSED CONSOLIDATING BALANCE SHEET INFORMATION

	At March 31, 2019
			Guarantor		Non-Guarantor Subsidiaries
	Parent		Subsidiaries		MGP		Other		Elimination			Consolidated
	(In thousands)
Current assets	$	97,072	$	1,191,305	$	96,294	$	831,700	$	(9,236	)	$	2,207,135
Property and equipment, net		—		5,410,421		11,073,152		4,723,488		(10,623	)		21,196,438
Investments in subsidiaries		23,226,988		3,825,369		—		—		(27,052,357	)		—
Investments in the MGP Operating Partnership		—		4,009,946		—		800,043		(4,809,989	)		—
Investments in and advances to unconsolidated affiliates		—		674,971		—		31,025		25,000			730,996
Intercompany accounts		—		7,923,254		—		—		(7,923,254	)		—
Other non-current assets		69,974		9,408,598		1,157,239		7,175,104		(10,798,563	)		7,012,352
	$	23,394,034	$	32,443,864	$	12,326,685	$	13,561,360	$	(50,579,022	)	$	31,146,921
Current liabilities	$	141,224	$	1,651,470	$	215,806	$	1,071,687	$	(267,509	)	$	2,812,678
Intercompany accounts		7,745,873		—		425		176,956		(7,923,254	)		—
Deferred income taxes, net		1,150,071		145,328		34,642		266,610		(29,720	)		1,566,931
Long-term debt, net		7,528,352		569		4,939,702		2,262,206		—			14,730,829
Other non-current liabilities		42,310		8,745,547		419,193		2,332,678		(10,820,448	)		719,280
Total liabilities		16,607,830		10,542,914		5,609,768		6,110,137		(19,040,931	)		19,829,718
Redeemable noncontrolling interests		—		—		—		99,338		—			99,338
MGM Resorts International stockholders' equity		6,786,204		21,899,513		4,679,335		4,959,652		(31,538,500	)		6,786,204
Noncontrolling interests		—		1,437		2,037,582		2,392,233		409			4,431,661
Total stockholders' equity		6,786,204		21,900,950		6,716,917		7,351,885		(31,538,091	)		11,217,865
	$	23,394,034	$	32,443,864	$	12,326,685	$	13,561,360	$	(50,579,022	)	$	31,146,921

	At December 31, 2018
			Guarantor		Non-Guarantor Subsidiaries
	Parent		Subsidiaries		MGP		Other		Elimination			Consolidated
	(In thousands)
Current assets	$	304,741	$	1,178,696	$	78,222	$	972,820	$	(7,701	)	$	2,526,778
Property and equipment, net		—		13,564,979		10,526,520		6,392,014		(9,753,625	)		20,729,888
Investments in subsidiaries		22,419,282		3,401,031		—		—		(25,820,313	)		—
Investments in the MGP Operating Partnership		—		3,434,602		—		831,494		(4,266,096	)		—
Investments in and advances to unconsolidated affiliates		—		678,748		—		29,119		25,000			732,867
Intercompany accounts		—		7,135,263		—		—		(7,135,263	)		—
Other non-current assets		67,214		917,537		346,565		4,932,872		(43,015	)		6,221,173
	$	22,791,237	$	30,310,856	$	10,951,307	$	13,158,319	$	(47,001,013	)	$	30,210,706
Current liabilities	$	154,484	$	1,617,675	$	189,247	$	1,224,752	$	(237,276	)	$	2,948,882
Intercompany accounts		6,932,325		—		307		202,631		(7,135,263	)		—
Deferred income taxes, net		1,097,654		—		33,634		240,970		(29,720	)		1,342,538
Long-term debt, net		8,055,472		570		4,666,949		2,365,014		—			15,088,005
Other non-current liabilities		39,019		7,210,897		215,664		2,247,584		(9,453,924	)		259,240
Total liabilities		16,278,954		8,829,142		5,105,801		6,280,951		(16,856,183	)		19,638,665
Redeemable noncontrolling interests		—		—		—		102,250		—			102,250
MGM Resorts International stockholders' equity		6,512,283		21,481,714		4,279,535		4,383,581		(30,144,830	)		6,512,283
Noncontrolling interests		—		—		1,565,971		2,391,537		—			3,957,508
Total stockholders' equity		6,512,283		21,481,714		5,845,506		6,775,118		(30,144,830	)		10,469,791
	$	22,791,237	$	30,310,856	$	10,951,307	$	13,158,319	$	(47,001,013	)	$	30,210,706

Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Information

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) INFORMATION

	Three Months Ended March 31, 2019
				Guarantor			Non-Guarantor Subsidiaries
	Parent			Subsidiaries			MGP			Other			Elimination			Consolidated
	(In thousands)
Net revenues	$	—		$	1,936,286		$	271,264		$	1,172,785		$	(203,424	)	$	3,176,911
Equity in subsidiaries' earnings		259,299			40,097			—			—			(299,396	)		—
Expenses
Casino and hotel operations		2,459			1,104,372			44,929			721,638			(11,023	)		1,862,375
General and administrative		16,485			522,007			5,920			188,949			(208,249	)		525,112
Corporate expense		58,775			53,007			13,029			4,625			—			129,436
Preopening and start-up expenses		—			1,214			—			2,073			—			3,287
Property transactions, net		—			7,814			1,113			(204	)		53			8,776
Depreciation and amortization		—			101,646			75,009			141,162			(1,403	)		316,414
		77,719			1,790,060			140,000			1,058,243			(220,622	)		2,845,400
Income from unconsolidated affiliates		—			37,055			—			1,694			—			38,749
Operating income		181,580			223,378			131,264			116,236			(282,198	)		370,260
Interest expense, net of amounts capitalized		(126,653	)		(208	)		(63,948	)		(25,311	)		—			(216,120	)
Other non-operating, net		18,626			85,214			1,709			2,464			(124,485	)		(16,472	)
Income before income taxes		73,553			308,384			69,025			93,389			(406,683	)		137,668
Provision for income taxes		(42,256	)		(5	)		(2,661	)		(26,589	)		—			(71,511	)
Net income		31,297			308,379			66,364			66,800			(406,683	)		66,157
Less: Net income attributable to noncontrolling interests		—			(1,437	)		(19,955	)		(13,061	)		(407	)		(34,860	)
Net income attributable to MGM Resorts International	$	31,297		$	306,942		$	46,409		$	53,739		$	(407,090	)	$	31,297
Net income	$	31,297		$	308,379		$	66,364		$	66,800		$	(406,683	)	$	66,157
Other comprehensive loss, net of tax:
Foreign currency translation adjustment		(6,906	)		(6,906	)		—			(12,405	)		13,812			(12,405	)
Unrealized loss on cash flow hedges		(8,606	)		—			(15,612	)		—			10,895			(13,323	)
Other comprehensive loss		(15,512	)		(6,906	)		(15,612	)		(12,405	)		24,707			(25,728	)
Comprehensive income		15,785			301,473			50,752			54,395			(381,976	)		40,429
Less: Comprehensive income attributable to noncontrolling interests		—			—			(15,238	)		(9,406	)		—			(24,644	)
Comprehensive income attributable to MGM Resorts International	$	15,785		$	301,473		$	35,514		$	44,989		$	(381,976	)	$	15,785

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) INFORMATION

	Three Months Ended March 31, 2018
				Guarantor			Non-Guarantor Subsidiaries
	Parent			Subsidiaries			MGP			Other			Elimination			Consolidated
	(In thousands)
Net revenues	$	—		$	1,889,793		$	215,839		$	932,947		$	(216,342	)	$	2,822,237
Equity in subsidiaries' earnings		328,267			44,535			—			—			(372,802	)		—
Expenses
Casino and hotel operations		2,715			1,050,019			—			582,979			(503	)		1,635,210
General and administrative		2,350			310,850			22,499			104,690			(22,499	)		417,890
Corporate expense		39,301			50,407			10,481			5,352			(6,032	)		99,509
Preopening and start-up expenses		—			6,742			—			60,175			—			66,917
Property transactions, net		—			5,142			4,086			756			(4,086	)		5,898
Depreciation and amortization		—			156,647			68,991			112,148			(68,964	)		268,822
		44,366			1,579,807			106,057			866,100			(102,084	)		2,494,246
Income from unconsolidated affiliates		—			31,632			—			134			—			31,766
Operating income		283,901			386,153			109,782			66,981			(487,060	)		359,757
Interest expense, net of amounts capitalized		(109,558	)		(137	)		(49,230	)		(8,984	)		—			(167,909	)
Other non-operating, net		15,772			(107,950	)		(1,152	)		(46,687	)		129,091			(10,926	)
Income before income taxes		190,115			278,066			59,400			11,310			(357,969	)		180,922
Benefit (provision) for income taxes		33,329			—			(1,231	)		53,281			—			85,379
Net income		223,444			278,066			58,169			64,591			(357,969	)		266,301
Less: Net income attributable to noncontrolling interests		—			—			(15,830	)		(27,027	)		—			(42,857	)
Net income attributable to MGM Resorts International	$	223,444		$	278,066		$	42,339		$	37,564		$	(357,969	)	$	223,444
Net income	$	223,444		$	278,066		$	58,169		$	64,591		$	(357,969	)	$	266,301
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment		(13,368	)		(13,368	)		—			(24,152	)		26,736			(24,152	)
Unrealized gain on cash flow hedges		9,498			—			16,355			—			(11,997	)		13,856
Other comprehensive income (loss)		(3,870	)		(13,368	)		16,355			(24,152	)		14,739			(10,296	)
Comprehensive income		219,574			264,698			74,524			40,439			(343,230	)		256,005
Less: Comprehensive income attributable to noncontrolling interests		—			—			(20,188	)		(16,243	)		—			(36,431	)
Comprehensive income attributable to MGM Resorts International	$	219,574		$	264,698		$	54,336		$	24,196		$	(343,230	)	$	219,574

Schedule of Condensed Consolidating Statement of Cash Flows Information

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION

	Three Months Ended March 31, 2019
				Guarantor			Non-Guarantor Subsidiaries
	Parent			Subsidiaries			MGP			Other			Elimination			Consolidated
	(In thousands)
Cash flows from operating activities
Net cash provided by (used in) operating activities	$	(107,623	)	$	782,436		$	(439,533	)	$	164,502		$	—		$	399,782
Cash flows from investing activities
Capital expenditures, net of construction payable		—			(108,690	)		(12	)		(74,550	)		—			(183,252	)
Dispositions of property and equipment		—			273			—			68			—			341
Acquisition of Empire City Casino, net of cash acquired		—			(535,681	)		—			—			—			(535,681	)
Investments in unconsolidated affiliates		—			(9,558	)		—			—			—			(9,558	)
Distributions from unconsolidated affiliates		—			31,850			—			—			—			31,850
Intercompany accounts		—			(787,991	)		—			—			787,991			—
Other		—			(3,500	)		—			(27,011	)		—			(30,511	)
Net cash used in investing activities		—			(1,413,297	)		(12	)		(101,493	)		787,991			(726,811	)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facilities – maturities of 90 days or less		320,000			245,950			(715,575	)		(140,142	)		—			(289,767	)
Issuance of long-term debt		—			—			750,000			—			—			750,000
Retirement of senior notes		(850,000	)		—			—			—			—			(850,000	)
Debt issuance costs		(128	)		—			(9,983	)		—			—			(10,111	)
Issuance of MGM Growth Properties common stock in public offering		—			—			571,838			—			—			571,838
MGM Growth Properties Class A share issuance costs		—			—			(23,447	)		—			—			(23,447	)
MGP dividends paid to consolidated subsidiaries		—			—			(87,322	)		—			87,322			—
Dividends paid to common shareholders		(69,799	)		—			—			—			—			(69,799	)
Distributions to noncontrolling interest owners		—			—			(31,733	)		(14,806	)		—			(46,539	)
Intercompany accounts		523,231			407,838			—			(55,756	)		(875,313	)		—
Other		(5,073	)		(2,198	)		—			(53	)		—			(7,324	)
Net cash provided by (used in) financing activities		(81,769	)		651,590			453,778			(210,757	)		(787,991	)		24,851
Effect of exchange rate on cash		—			—			—			(1,180	)		—			(1,180	)
Cash and cash equivalents
Net increase (decrease) for the period		(189,392	)		20,729			14,233			(148,928	)		—			(303,358	)
Balance, beginning of period		259,738			389,601			59,817			817,606			—			1,526,762
Balance, end of period	$	70,346		$	410,330		$	74,050		$	668,678		$	—		$	1,223,404

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS INFORMATION

	Three Months Ended March 31, 2018
				Guarantor			Non-Guarantor Subsidiaries
	Parent			Subsidiaries			MGP			Other			Elimination			Consolidated
	(In thousands)
Cash flows from operating activities
Net cash provided by (used in) operating activities	$	(157,092	)	$	237,173		$	145,224		$	352,359		$	—		$	577,664
Cash flows from investing activities
Capital expenditures, net of construction payable		—			(181,743	)		(177	)		(236,704	)		—			(418,624	)
Dispositions of property and equipment		—			220			—			5			—			225
Investments in unconsolidated affiliates		—			(2,503	)		—			—			—			(2,503	)
Intercompany accounts		—			(102,195	)		—			—			102,195			—
Other		—			(9,937	)		—			(1,538	)		—			(11,475	)
Net cash used in investing activities		—			(296,158	)		(177	)		(238,237	)		102,195			(432,377	)
Cash flows from financing activities
Net borrowings (repayments) under bank credit facilities - maturities of 90 days or less		516,875			—			(8,375	)		(128,465	)		—			380,035
Retirement of senior notes		—			(2,265	)		—			—			—			(2,265	)
Debt issuance costs		—			—			(4,544	)		—			—			(4,544	)
MGP dividends paid to consolidated subsidiaries		—			—			(81,956	)		—			81,956			—
Dividends paid to common shareholders		(67,999	)		—			—			—			—			(67,999	)
Distributions to noncontrolling interest owners		—			—			(29,777	)		(17,603	)		—			(47,380	)
Purchases of common stock		(362,400	)		—			—			—			—			(362,400	)
Intercompany accounts		111,580			26,042			—			46,529			(184,151	)		—
Other		(8,297	)		(2,793	)		—			(1,407	)		—			(12,497	)
Net cash provided by (used in) financing activities		189,759			20,984			(124,652	)		(100,946	)		(102,195	)		(117,050	)
Effect of exchange rate on cash		—			—			—			(2,830	)		—			(2,830	)
Cash and cash equivalents
Net increase (decrease) for the period		32,667			(38,001	)		20,395			10,346			—			25,407
Balance, beginning of period		26,870			311,043			259,722			902,360			—			1,499,995
Balance, end of period	$	59,537		$	273,042		$	280,117		$	912,706		$	—		$	1,525,402