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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2022
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:
|  | June 30, 2022 |  | December 31, 2021
|  | (In thousands)
Goodwill |  | $ | 4,705,842 |  |  | $ | 3,480,997 |
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 |  | 600,443 |  |  | 479,238 |
Total indefinite-lived intangible assets |  | 978,541 |  |  | 857,336 |
Finite-lived intangible assets: |  |  |  |
MGM Grand Paradise gaming subconcession |  | 4,493,309 |  |  | 4,516,532 |
Less: Accumulated amortization |  | (2,065,163) |  |  | (1,865,219) |
|  | 2,428,146 |  |  | 2,651,313 |
MGM National Harbor and MGM Springfield gaming licenses |  | 106,600 |  |  | 106,600 |
Less: Accumulated amortization |  | (29,762) |  |  | (26,209) |
|  | 76,838 |  |  | 80,391 |
Other finite-lived intangible assets |  | 159,839 |  |  | 65,207 |
Less: Accumulated amortization |  | (45,237) |  |  | (37,862) |
|  | 114,602 |  |  | 27,345 |
Total finite-lived intangible assets, net |  | 2,619,586 |  |  | 2,759,049 |
Total other intangible assets, net |  | $ | 3,598,127 |  |  | $ | 3,616,385 |
Goodwill. A summary of changes in the Company’s goodwill by reportable segment is as follows for the six months ended June 30, 2022 and twelve months ended December 31, 2021:
|  | 2022
|  | Balance at January 1 |  | Acquisitions |  | Reclassifications |  | Currency exchange |  | Balance at June 30
|  | (In thousands)
Goodwill, net by segment: |  |  |  |  |  |  |  |  |  |
Las Vegas Strip Resorts |  | $ | 1,427,790 |  |  | $ | 1,284,309 |  |  | $ | (10,249) |  |  | $ | — |  |  | $ | 2,701,850 |
Regional Operations |  | 701,463 |  |  | — |  |  | (40,523) |  |  | — |  |  | 660,940 |
MGM China |  | 1,351,744 |  |  | — |  |  | — |  |  | (8,692) |  |  | 1,343,052 |
|  | $ | 3,480,997 |  |  | $ | 1,284,309 |  |  | $ | (50,772) |  |  | $ | (8,692) |  |  | $ | 4,705,842 |
|  | 2021
|  | Balance at January 1 |  | Acquisitions |  | Reclassifications |  | 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 |
Goodwill was recognized in 2022 related to the acquisition of the operations of The Cosmopolitan, which is included in Las Vegas Strip Resorts. Goodwill related to the Mirage and Gold Strike Tunica, which are included in Las Vegas Strip Resorts and Regional Operations, respectively, were reclassified into assets held for sale in 2022 as further discussed in Note 3. Goodwill was recognized in 2021 related to the acquisition of the 50% ownership interest in CityCenter, which is included in Las Vegas Strip Resorts. MGM Grand Paradise gaming subconcession. As described in Note 1, the enactment of the new Macau gaming law in June 2022 provides for material changes to the legal form of gaming concessions in Macau, including discontinuing and prohibiting gaming subconcessions subsequent to their expiration, and also includes material changes to the rights and obligations provided for under the new gaming concessions to be awarded in the upcoming public tender. As a result, the Company determined that the existing MGM Grand Paradise gaming subconcession and new gaming concession, if obtained, would be two separate units of account. Further, as the material changes in the legal and regulatory environment could have an adverse effect on the value of MGM Grand Paradise’s gaming subconcession, the Company concluded that a triggering event had occurred under ASC 360 in June 2022 for the MGM China asset group. The Company compared the estimated undiscounted cash flows of the asset group to its carrying value and determined that the undiscounted cash flows significantly exceeded the carrying value and therefore, no impairment was indicated. Additionally, the Company reassessed the useful life of the existing gaming subconcession intangible asset and determined that, given the new gaming law and the resulting changes described above, the useful life would no longer be based on the initial term of the MGM Cotai land concession, which ends in January 2038, and that the useful life should be revised to align with the cessation of the subconcession rights that will occur at the end of the contractual term of the existing gaming subconcession, which ends on December 31, 2022. Accordingly, amortization of the MGM Grand Paradise gaming subconcession will be recognized on a straight-line basis over its reduced useful life.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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