MGP Class A share issuance – March 2021. On March 15, 2021, MGP completed an offering of 22 million of its Class A shares, the proceeds of which were used to partially satisfy MGP’s obligations pursuant to the notice of redemption delivered by certain MGM subsidiaries, discussed below. Subsequent to MGP’s Class A share issuance and the redemption of Operating Partnership units, discussed below, the Company indirectly owned 42.1% of the partnership units in the Operating Partnership.

Redemption of Operating Partnership units – March 2021. In March 2021, subsidiaries of the Company delivered a notice of redemption to MGP covering approximately 37 million Operating Partnership units that they held in accordance with the terms of the Operating Partnership’s partnership agreement. In accordance with the terms of such agreement, upon receipt of the notice of redemption, MGP formed a conflicts committee to determine the mix of consideration that it would provide for the Operating Partnership units. The conflicts committee determined that MGP would redeem approximately 15 million Operating Partnership units for cash (with such Operating Partnership units retired upon redemption) and would satisfy its remaining obligation under that notice covering the remaining 22 million Operating Partnership units using the proceeds, net of the underwriters’ discount, of MGP’s Class A offering, for aggregate cash proceeds received by the Company of approximately $1.2 billion. 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 loss. Subsequent to the collective transactions, the Company indirectly owned 42.1% of the partnership units in the Operating Partnership.

MGP Class A share issuances – At-the-Market (“ATM”) program. During the three months ended June 30, 2021, MGP issued approximately 3 million Class A shares under its ATM program. In connection with the issuances, the Operating Partnership issued approximately 3 million Operating Partnership units to MGP. 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 collective issuances, the Company indirectly owned 41.6% of the partnership units in the Operating Partnership.

MGM Resorts International dividends. On August 4, 2021 the Company’s Board of Directors approved a quarterly dividend of $0.0025 per share that will be payable on September 15, 2021 to holders of record on September 10, 2021.

MGM Resorts International stock repurchase program. In February 2020, upon substantial completion of the May 2018 $2.0 billion stock repurchase program, the Company’s Board of Directors authorized a $3.0 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.

During the three months ended June 30, 2021, the Company repurchased approximately 6 million shares of its common stock at an average price of $39.48 per share for an aggregate amount of $220 million. During the six months ended June 30, 2021, the Company repurchased approximately 9 million shares of its common stock at an average price of $38.90 per share for an aggregate amount of $340 million. Repurchased shares were retired. During the six months ended June 30, 2021, the Company completed its May 2018 $2.0 billion stock repurchase program and the remaining availability under the February 2020 $3.0 billion stock repurchase program was $2.7 billion as of June 30, 2021.

Subsequent to the quarter ended June 30, 2021, the Company repurchased 7 million shares of its common stock at an average price of $38.72 per share for an aggregate amount of $275 million. Repurchased shares will be retired.

There were no repurchases made during the three months ended June 30, 2020. During the six months ended June 30, 2020, the Company repurchased approximately 11 million shares of its common stock at an average price of $32.57 per share for an aggregate amount of $354 million. Repurchased shares were retired.

Accumulated other comprehensive loss. Changes in accumulated other comprehensive loss attributable to MGM Resorts International are as follows:


	Currency Translation			Cash Flow
	Adjustments			Hedges			Other			Total
	(In thousands)
Balances, April 1, 2021	$	5,611		$	(48,258	)	$	17,429		$	(25,218	)
Other comprehensive income (loss) before reclassifications		5,811			(4,674	)		—			1,137
Amounts reclassified from accumulated other comprehensive loss to interest expense		—			6,764			—			6,764
Other comprehensive income, net of tax		5,811			2,090			—			7,901
Other changes in accumulated other comprehensive income (loss):
MGP Class A share issuances		—			—			371			371
Other		—			—			9			9
Changes in accumulated other comprehensive income:		5,811			2,090			380			8,281
Other comprehensive income attributable to noncontrolling interest		(2,578	)		(1,658	)		—			(4,236	)
Balances, June 30, 2021	$	8,844		$	(47,826	)	$	17,809		$	(21,173	)

Balances, January 1, 2021	$	12,964		$	(55,357	)	$	11,716		$	(30,677	)
Other comprehensive income (loss) before reclassifications		(7,211	)		6,006			—			(1,205	)
Amounts reclassified from accumulated other comprehensive loss to interest expense		—			11,382			—			11,382
Other comprehensive income (loss), net of tax		(7,211	)		17,388			—			10,177
Other changes in accumulated other comprehensive income (loss):
MGP Class A share issuances		—			—			3,239			3,239
Redemption of Operating Partnership units		—			—			5,327			5,327
Other		—			—			(2,473	)		(2,473	)
Changes in accumulated other comprehensive income (loss):		(7,211	)		17,388			6,093			16,270
Other comprehensive loss (income) attributable to noncontrolling interest		3,091			(9,857	)		—			(6,766	)
Balances, June 30, 2021	$	8,844		$	(47,826	)	$	17,809		$	(21,173	)