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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

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,
						2022						2021						2020
						(In thousands)
Domestic operations						$	4,251,418					$	2,094,324					$	(665,376)
Foreign operations						(3,347,619)						(632,520)						(846,103)
						$	903,799					$	1,461,804					$	(1,511,479)

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,
						2022						2021						2020
Federal:						(In thousands)
Current						$	(206,426)					$	(8,984)					$	207,544
Deferred (excluding separate components)						(678,371)						(189,657)						19,852
Deferred – valuation allowance						5,346						(14,967)						(42,109)
Other noncurrent						18,326						(14,262)						4,922
Benefit (provision) for federal income taxes						(861,125)						(227,870)						190,209
State:
Current						(10,389)						5						(816)
Deferred (excluding separate components)						(33,878)						(28,068)						(33,087)
Deferred – operating loss carryforward						(15,442)						(27,936)						47,728
Deferred – valuation allowance						(2,345)						(601)						(3,375)
Other noncurrent						—						13,260						(946)
Benefit (provision) for state income taxes						(62,054)						(43,340)						9,504
Foreign:
Current						(2,259)						(3,717)						(828)
Deferred (excluding separate components)						311,614						8,943						4,206
Deferred – operating loss carryforward						6,331						5,793						39,920
Deferred – valuation allowance						(89,575)						6,776						(51,439)
Benefit (provision) for foreign income taxes						226,111						17,795						(8,141)
						$	(697,068)					$	(253,415)					$	191,572

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,
						2022						2021						2020
Federal income tax statutory rate						21.0		%				21.0		%				21.0		%
Net operating loss carryback rate differential						—						—						5.5
Noncontrolling interest						(2.4)						(3.2)						1.6
Foreign income/losses taxed at other than U.S. statutory rate						53.3						8.2						(12.5)
Federal valuation allowance						(0.6)						1.0						(2.8)
State taxes, net						5.5						2.3						0.5
Gain on consolidation of CityCenter, net						—						(10.1)						—
General business credits						(1.5)						(0.3)						0.3
Permanent and other items						1.8						(1.6)						(0.9)
						77.1		%				17.3		%				12.7		%

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,
						2022						2021
Deferred tax assets – federal and state:						(In thousands)
Net operating loss carryforward						$	23,151					$	35,350
Accruals, reserves and other						9,481						39,163
Lease liabilities						5,830,582						2,714,308
Tax credits						2,764,266						3,060,733
						8,627,480						5,849,554
Less: Valuation allowance						(2,641,770)						(2,735,451)
						5,985,710						3,114,103
Deferred tax assets – foreign:
Net operating loss carryforward						198,686						185,936
Accruals, reserves and other						12,315						15,228
Property and equipment						32,585						27,366
Lease liabilities						1,219						1,458
						244,805						229,988
Less: Valuation allowance						(244,805)						(148,811)
						—						81,177
Total deferred tax assets						$	5,985,710					$	3,195,280
Deferred tax liabilities – federal and state:
Property and equipment						$	(330,857)					$	(1,361,356)
Investments in unconsolidated affiliates						(585,275)						(1,252,816)
Investment in equity securities						(2,236,093)						—
ROU assets						(5,612,241)						(2,570,620)
Intangibles						(160,991)						(141,934)
						(8,925,457)						(5,326,726)
Deferred tax liabilities – foreign:
Intangibles and other						(29,696)						(307,918)
						(29,696)						(307,918)
Total deferred tax liability						(8,955,153)						(5,634,644)
Net deferred tax liability						$	(2,969,443)					$	(2,439,364)

Schedule of Income Tax Valuation Allowance

Deferred income tax valuation allowance consisted of the following:

						Balance at Beginning of Period						Increase						Decrease						Balance at End of Period
Deferred income tax valuation allowance:						(In thousands)
Year Ended December 31, 2022						$	2,884,262					$	2,313					$	—					$	2,886,575
Year Ended December 31, 2021						2,875,595						8,667						—						2,884,262
Year Ended December 31, 2020						2,574,056						301,539						—						2,875,595

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,
						2022						2021						2020
						(In thousands)
Gross unrecognized tax benefits at January 1						$	19,568					$	35,617					$	33,298
Gross increases - prior period tax positions						—						12,949						3,717
Gross decreases - prior period tax positions						(12,968)						(13,388)						(1,398)
Gross increases - current period tax positions						285						654						—
Settlements with Taxing Authorities						—						(16,264)						—
Gross unrecognized tax benefits at December 31						$	6,885					$	19,568					$	35,617

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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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