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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

Long-term debt consisted of the following:  

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Senior credit facility

 

$

 

 

$

 

Operating Partnership senior credit facility

 

 

10,000

 

 

 

1,703,750

 

MGM China credit facility

 

 

770,034

 

 

 

667,404

 

7.75% senior notes, due 2022

 

 

1,000,000

 

 

 

1,000,000

 

6% senior notes, due 2023

 

 

1,250,000

 

 

 

1,250,000

 

5.625% Operating Partnership senior notes, due 2024

 

 

1,050,000

 

 

 

1,050,000

 

5.375% MGM China senior notes, due 2024

 

 

750,000

 

 

 

750,000

 

6.75% senior notes, due 2025

 

 

750,000

 

 

 

 

5.75% senior notes, due 2025

 

 

675,000

 

 

 

1,000,000

 

4.625% Operating Partnership senior notes, due 2025

 

 

800,000

 

 

 

 

5.25% MGM China senior notes, due 2025

 

 

500,000

 

 

 

 

5.875% MGM China senior notes, due 2026

 

 

750,000

 

 

 

750,000

 

4.5% Operating Partnership senior notes, due 2026

 

 

500,000

 

 

 

500,000

 

4.625% senior notes, due 2026

 

 

400,000

 

 

 

500,000

 

5.75% Operating Partnership senior notes, due 2027

 

 

750,000

 

 

 

750,000

 

5.5% senior notes, due 2027

 

 

675,000

 

 

 

1,000,000

 

4.5% Operating Partnership senior notes, due 2028

 

 

350,000

 

 

 

350,000

 

4.75% senior notes, due 2028

 

 

750,000

 

 

 

 

3.875% Operating Partnership senior notes, due 2029

 

 

750,000

 

 

 

 

7% debentures, due 2036

 

 

552

 

 

 

552

 

 

 

 

12,480,586

 

 

 

11,271,706

 

Less: Premiums, discounts, and unamortized debt issuance costs, net

 

 

(103,902

)

 

 

(102,802

)

 

 

$

12,376,684

 

 

$

11,168,904

 

Schedule of Interest Expense, Net

Interest expense, net consisted of the following:

 

 

Year Ended December 31,

 

 

2020

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Total interest incurred

$

679,251

 

 

$

853,007

 

 

$

821,229

 

Interest capitalized

 

(2,871

)

 

 

(5,075

)

 

 

(51,716

)

 

$

676,380

 

 

$

847,932

 

 

$

769,513

 

 

Schedule of Maturities of Long-Term Debt

Maturities of long-term debt. The maturities of the principal amount of the Company’s long-term debt as of December 31, 2020 are as follows:

 

Years ending December 31,

 

 

 

(In thousands)

 

2021

 

 

 

$

 

2022

 

 

 

 

1,000,000

 

2023

 

 

 

 

1,260,000

 

2024

 

 

 

 

2,570,034

 

2025

 

 

 

 

2,725,000

 

Thereafter

 

 

 

 

4,925,552

 

 

 

 

 

$

12,480,586