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LEASES (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Components of Lease Costs
Components of lease costs and other information related to the Company’s leases are:
 
Year Ended December 31,
 2022 20212020
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$1,986,853 $870,779 $751,002 
 
Finance lease costs
Interest expense(2)
$9,233 $2,354 $(21,320)
Amortization expense76,039 73,475 70,476 
Total finance lease costs$85,272 $75,829 $49,156 
(1)The Bellagio lease is held with a related party, as further discussed in Note 18. Operating lease cost includes $331 million for each of the years ended December 31, 2022, 2021, and 2020, related to the Bellagio lease.
(2)For the years ended December 31, 2021 and 2020, interest expense includes the effect of COVID-19 related rent concessions, which was recognized as negative variable rent expense.
 
Year Ended December 31,
 2022 20212020
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$1,535,637 $669,681 $572,186 
Operating cash outflows from finance leases6,654 4,761 2,956 
Financing cash outflows from finance leases(1)
84,139 73,257 34,494 
 
ROU assets obtained in exchange for new lease liabilities
Operating leases$15,538,208 $3,388,120 $4,120,955 
Finance leases87,856 24,433 177,085 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Supplemental Balance Sheet Information Related to Leases
 December 31,
 20222021
(In thousands)
Operating leases  
Operating lease ROU assets, net(1)
$24,530,929$11,492,805
Operating lease liabilities - current, classified within “Other accrued liabilities”
$53,981$31,706
Operating lease liabilities - long-term(2)
25,149,29911,802,464
Total operating lease liabilities$25,203,280$11,834,170
 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$150,571$151,909
Finance lease liabilities - current, classified within "Other accrued liabilities"
$72,420$87,665
Finance lease liabilities - long-term, classified within “Other long-term obligations”
88,18175,560
Total finance lease liabilities$160,601$163,225
 
Weighted average remaining lease term (years)
Operating leases2629
Finance leases142
 
Weighted average discount rate (%)
Operating leases7 7 
Finance leases5 3 
(1)As of December 31, 2022 and 2021, operating lease right-of-use assets, net included $3.5 billion and $3.6 billion related to the Bellagio lease, respectively.
(2)As of December 31, 2022 and 2021, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease for each of the respective periods.
Finance Lease Maturity
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31,
(In thousands)
2023$1,795,625 $78,710 
20241,825,986 8,763 
20251,856,204 8,258 
20261,883,099 7,021 
2027839,326 6,992 
Thereafter51,965,868 135,187 
Total future minimum lease payments60,166,108 244,931 
Less: Amount of lease payments representing interest(34,962,828)(84,330)
Present value of future minimum lease payments25,203,280 160,601 
Less: Current portion(53,981)(72,420)
Long-term portion of lease liabilities$25,149,299 $88,181 
Operating Lease Maturity
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31,
(In thousands)
2023$1,795,625 $78,710 
20241,825,986 8,763 
20251,856,204 8,258 
20261,883,099 7,021 
2027839,326 6,992 
Thereafter51,965,868 135,187 
Total future minimum lease payments60,166,108 244,931 
Less: Amount of lease payments representing interest(34,962,828)(84,330)
Present value of future minimum lease payments25,203,280 160,601 
Less: Current portion(53,981)(72,420)
Long-term portion of lease liabilities$25,149,299 $88,181