XML 36 R25.htm IDEA: XBRL DOCUMENT v3.22.2.2
ACQUISITIONS AND DIVESTITURES (Tables)
 9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Allocation of Purchase Price to Fair Value of Assets Acquired and Liabilities Assumed
The following table sets forth the preliminary purchase price allocation (in thousands):

Cash and cash equivalents$93,407 
Receivables and other current assets36,872 
Technology126,162 
Trademarks166,356 
Customer lists140,843 
Goodwill238,040 
Other long-term assets19,181 
Accounts payable, accrued liabilities, and other current liabilities(118,302)
Debt(104,439)
Other long-term liabilities(39,564)
Noncontrolling interests(2,861)
$555,695 
The following table sets forth the preliminary purchase price allocation (in thousands):

Cash and cash equivalents$80,670 
Receivables and other current assets94,354 
Property and equipment120,912 
Trademarks130,000 
Customer lists95,000 
Goodwill1,289,468 
Operating lease right-of-use-assets, net3,404,894 
Other long-term assets23,709 
Accounts payable, accrued liabilities, and other current liabilities(145,136)
Operating lease liabilities(3,401,815)
Other long-term liabilities(1,570)
$1,690,486 
The following table sets forth the purchase price allocation (in thousands):

Cash and cash equivalents$335,396 
Receivables and other current assets106,417 
Property and equipment - real estate assets held for sale3,888,431 
Property and equipment323,093 
Trademarks180,000 
Goodwill1,397,338 
Other long-term assets13,923 
Accounts payable, accrued liabilities, and other current liabilities(201,093)
Debt(1,729,451)
Other long-term liabilities(64,054)
$4,250,000 
Schedule of Pro Forma Financial Information The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of the indicated date. Pro forma results of operations for the LeoVegas acquisition have not been included because it is not material to the consolidated results of operations.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
(In thousands)
Net revenues$3,416,072 $3,208,590 $9,958,088 $7,762,826 
Net income (loss) attributable to MGM Resorts International(576,830)226,231 1,203,246 37,454 
Disposal Groups, Including Discontinued Operations
The major classes of assets and liabilities derecognized are as follows (in thousands):

Cash and cash equivalents$25,387 
Income tax receivable5,486 
Prepaid expenses and other128 
Property and equipment, net9,250,519 
Investments in and advances to unconsolidated affiliates817,901 
Operating lease right-of-use assets, net236,255 
Other long-term assets, net3,991 
Total assets$10,339,667 
Accounts payable$1,136 
Accrued interest on long-term debt68,150 
Other accrued liabilities4,057 
Deferred income taxes, net1,284 
Long-term debt, net4,259,473 
Operating lease liabilities336,689 
Total liabilities$4,670,789 
The major classes of assets and liabilities classified as held for sale as of September 30, 2022 are as follows:
The MirageGold Strike Tunica
(In thousands)
Assets
Cash and cash equivalents$18,636 $21,020 
Accounts receivable, net19,102 2,404 
Inventories5,371 978 
Prepaid expenses and other8,139 1,786 
Property and equipment, net25,755 20,269 
Goodwill10,249 40,523 
Other intangible assets, net3,095 5,700 
Operating lease right-of-use assets, net1,322,219 511,090 
Other long-term assets, net7,046 1,406 
Assets held for sale$1,419,612 $605,176 
Liabilities
Accounts payable$10,773 $5,914 
Other accrued liabilities65,924 17,738 
Other long-term obligations6,666 2,538 
Operating lease liabilities1,328,710 515,777 
Liabilities related to assets held for sale$1,412,073 $541,967