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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Taxes for Domestic and Foreign Operations

Income (loss) before income taxes for domestic and foreign operations consisted of the following:

						Year Ended December 31,
						2021						2020						2019
						(In thousands)
Domestic operations						$	2,094,324					$	(665,376)					$	2,717,756
Foreign operations						(632,520)						(846,103)						128,969
						$	1,461,804					$	(1,511,479)					$	2,846,725

Schedule of Benefit (Provision) for Income Taxes Attributable to Income (Loss) Before Income Taxes

The benefit (provision) for income taxes attributable to income (loss) before income taxes is as follows:

						Year Ended December 31,
						2021						2020						2019
Federal:						(In thousands)
Current						$	(8,984)					$	207,544					$	(4,928)
Deferred (excluding separate components)						(189,657)						19,852						(537,993)
Deferred – valuation allowance						(14,967)						(42,109)						(20,175)
Other noncurrent						(14,262)						4,922						(5,745)
Benefit (provision) for federal income taxes						(227,870)						190,209						(568,841)
State:
Current						5						(816)						(22,685)
Deferred (excluding separate components)						(28,068)						(33,087)						(32,793)
Deferred – operating loss carryforward						(27,936)						47,728						(5,241)
Deferred – valuation allowance						(601)						(3,375)						(191)
Other noncurrent						13,260						(946)						(1,401)
Benefit (provision) for state income taxes						(43,340)						9,504						(62,311)
Foreign:
Current						(3,717)						(828)						(2,454)
Deferred (excluding separate components)						8,943						4,206						44,374
Deferred – operating loss carryforward						5,793						39,920						32,915
Deferred – valuation allowance						6,776						(51,439)						(76,028)
Benefit (provision) for foreign income taxes						17,795						(8,141)						(1,193)
						$	(253,415)					$	191,572					$	(632,345)

Schedule of Reconciliation of the Federal Income Tax Statutory Rate and the Company's Effective Tax Rate

A reconciliation of the federal income tax statutory rate and the Company’s effective tax rate is as follows:

						Year Ended December 31,
						2021						2020						2019
Federal income tax statutory rate						21.0		%				21.0		%				21.0		%
Net operating loss carryback rate differential						—						5.5						—
Noncontrolling interest						(3.2)						1.6						(0.8)
Foreign jurisdiction income/losses taxed at other than U.S. statutory rate						8.2						(12.5)						(0.5)
Federal valuation allowance						1.0						(2.8)						0.7
State taxes, net						2.3						0.5						1.7
Gain on consolidation of CityCenter, net						(10.1)						—						—
Permanent and other items						(1.9)						(0.6)						0.1
						17.3		%				12.7		%				22.2		%

Schedule of Tax-Effected Components of the Company's Net Deferred Tax Liability

The tax-effected components of the Company’s net deferred tax liability are as follows:

						December 31,
						2021						2020
Deferred tax assets – federal and state:						(In thousands)
Net operating loss carryforward						$	35,350					$	57,419
Accruals, reserves and other						39,163						167,553
Lease liabilities						2,714,308						1,972,343
Tax credits						3,060,733						3,095,856
						5,849,554						5,293,171
Less: Valuation allowance						(2,735,451)						(2,720,008)
						3,114,103						2,573,163
Deferred tax assets – foreign:
Net operating loss carryforward						185,936						180,143
Accruals, reserves and other						15,228						17,083
Property and equipment						27,366						17,890
Lease liabilities						1,458						1,368
						229,988						216,484
Less: Valuation allowance						(148,811)						(155,587)
						81,177						60,897
Total deferred tax assets						$	3,195,280					$	2,634,060
Deferred tax liabilities – federal and state:
Property and equipment						$	(1,361,356)					$	(1,349,355)
Investments in unconsolidated affiliates						(1,252,816)						(1,158,342)
ROU assets						(2,570,620)						(1,860,195)
Intangibles						(141,934)						(108,728)
						(5,326,726)						(4,476,620)
Deferred tax liabilities – foreign:
Intangibles						(307,522)						(309,256)
ROU Assets						(396)						(1,200)
						(307,918)						(310,456)
Total deferred tax liability						$	(5,634,644)					$	(4,787,076)
Net deferred tax liability						$	(2,439,364)					$	(2,153,016)

Schedule of Reconciliation of the Beginning and Ending Amounts of Gross Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows:

						Year Ended December 31,
						2021						2020						2019
						(In thousands)
Gross unrecognized tax benefits at January 1						$	35,617					$	33,298					$	24,464
Gross increases - prior period tax positions						12,949						3,717						8,960
Gross decreases - prior period tax positions						(13,388)						(1,398)						(1,006)
Gross increases - current period tax positions						654						—						880
Settlements with Taxing Authorities						(16,264)						—						—
Gross unrecognized tax benefits at December 31						$	19,568					$	35,617					$	33,298

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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