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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets consisted of the following:
|  | December 31,
|  | 2021 |  | 2020
|  | (In thousands)
Goodwill |  | $ | 3,480,997 |  |  | $ | 2,091,278 |
Indefinite-lived intangible assets: |  |  |  |
Detroit development rights |  | $ | 98,098 |  |  | $ | 98,098 |
MGM Northfield Park and Empire City racing and gaming licenses |  | 280,000 |  |  | 280,000 |
Trademarks and other |  | 479,238 |  |  | 299,238 |
Total indefinite-lived intangible assets |  | 857,336 |  |  | 677,336 |
Finite-lived intangible assets: |  |  |  |
MGM Grand Paradise gaming subconcession |  | 4,516,532 |  |  | 4,541,990 |
Less: Accumulated amortization |  | (1,865,219) |  |  | (1,697,481) |
|  | 2,651,313 |  |  | 2,844,509 |
MGM National Harbor and MGM Springfield gaming licenses |  | 106,600 |  |  | 106,600 |
Less: Accumulated amortization |  | (26,209) |  |  | (19,102) |
|  | 80,391 |  |  | 87,498 |
Other finite-lived intangible assets |  | 65,207 |  |  | 60,649 |
Less: Accumulated amortization |  | (37,862) |  |  | (26,244) |
|  | 27,345 |  |  | 34,405 |
Total finite-lived intangible assets, net |  | 2,759,049 |  |  | 2,966,412 |
Total other intangible assets, net |  | $ | 3,616,385 |  |  | $ | 3,643,748 |
Goodwill. A summary of changes in the Company’s goodwill by reportable segment is as follows:
|  | 2021
|  | Balance at January 1 |  | Acquisitions |  | Currency exchange |  | Balance at December 31
|  | (In thousands)
Goodwill, net by segment: |  |  |  |  |  |  |  |
Las Vegas Strip Resorts |  | $ | 30,452 |  |  | $ | 1,397,338 |  |  | $ | — |  |  | $ | 1,427,790 |
Regional Operations |  | 701,463 |  |  | — |  |  | — |  |  | 701,463 |
MGM China |  | 1,359,363 |  |  | — |  |  | (7,619) |  |  | 1,351,744 |
|  | $ | 2,091,278 |  |  | $ | 1,397,338 |  |  | $ | (7,619) |  |  | $ | 3,480,997 |
|  | 2020
|  | Balance at January 1 |  | Acquisitions |  | Currency exchange |  | Balance at December 31
|  | (In thousands)
Goodwill, net by segment: |  |  |  |  |  |  |  |
Las Vegas Strip Resorts |  | $ | 30,452 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,452 |
Regional Operations |  | 701,463 |  |  | — |  |  | — |  |  | 701,463 |
MGM China |  | 1,352,649 |  |  | — |  |  | 6,714 |  |  | 1,359,363 |
|  | $ | 2,084,564 |  |  | $ | — |  |  | $ | 6,714 |  |  | $ | 2,091,278 |
Goodwill was recognized in 2021 related to the acquisition of the 50% ownership interest in CityCenter, which is included in Las Vegas Strip Resorts, as further discussed in Note 4. MGM Grand Paradise gaming subconcession. Pursuant to the agreement dated April 19, 2005 between MGM Grand Paradise and SJM Resorts S.A. ("SJMSA", formerly Sociedade de Jogos de Macau, S.A.), a gaming subconcession was acquired by MGM Grand Paradise for the right to operate casino games of chance and other casino games for a period commencing on April 20, 2005 through March 31, 2020. In March 2019, MGM Grand Paradise and SJMSA entered into a Subconcession Extension Contract (the “Extension Agreement”), pursuant to which the gaming subconcession was extended to June 26, 2022, which coincides with the current expiration of all the other concessions and subconcessions. MGM Grand Paradise paid the government of Macau approximately $25 million and paid SJMSA approximately $2 million as a contract premium for such extension. The Company cannot provide any assurance that MGM Grand Paradise will be awarded a gaming concession subsequent to the expiration of its gaming subconcession; however, as further discussed in Note 1, management believes that MGM Grand Paradise will be successful in obtaining a gaming concession when a public tender is held. Accordingly, as of December 31, 2021 and 2020, the Company amortizes the gaming subconcession intangible asset on a straight-line basis over the initial term of the Cotai land concession through January 2038. MGM National Harbor and MGM Springfield gaming licenses. The license fee paid to the State of Maryland of $22 million is considered a finite-lived intangible asset that is amortized on a straight-line basis over a period of its initial term of 15 years, beginning in December 2016, when MGM National Harbor started operations. The license fee paid to the State of Massachusetts of $85 million is considered a finite-lived intangible asset that is amortized over a period of 15 years, beginning in August 2018, when MGM Springfield started operations. Total amortization expense related to intangible assets was $197 million, $194 million and $192 million for 2021, 2020, and 2019, respectively. As of December 31, 2021, estimated future amortization is as follows:
Years ending December 31, |  | (In thousands)
2022 |  | $ | 190,257 |
2023 |  | 177,982 |
2024 |  | 175,995 |
2025 |  | 174,210 |
2026 |  | 172,424 |
Thereafter |  | 1,868,181 |
|  | $ | 2,759,049 |

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