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LEASES (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Components of Lease Costs
Other information. Components of lease costs and other information related to the Company’s leases are:
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2023202220232022
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$575,472 $488,987 $1,156,460 $760,836 
Finance lease costs
Interest expense$3,107 $1,811 $4,521 $2,704 
Amortization expense17,313 19,493 34,839 39,650 
Total finance lease costs$20,420 $21,304 $39,360 $42,354 
(1)Operating lease cost includes $83 million for each of the three months ended June 30, 2023 and 2022 and $166 million for each of the six months ended June 30, 2023 and 2022 related to the Bellagio lease, which is held with a related party.
 Six Months Ended
June 30,
 20232022
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$904,726 $588,690 
Operating cash outflows from finance leases3,395 2,686 
Financing cash outflows from finance leases(1)
34,773 43,628 
ROU assets obtained in exchange for new lease liabilities
Operating leases$11,245 $15,528,718 
Finance leases518 87,840 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Supplemental Balance Sheet Information Related to Leases
 June 30,
2023
December 31,
2022
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$24,276,784 $24,530,929 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$63,281 $53,981 
Operating lease liabilities - long-term(2)
25,136,719 25,149,299 
Total operating lease liabilities$25,200,000 $25,203,280 
Finance leases
Finance lease ROU assets, net classified within “Property and equipment, net”
$116,239 $150,571 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$41,124 $72,420 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
87,296 88,181 
Total finance lease liabilities$128,420 $160,601 
Weighted average remaining lease term (years)
Operating leases2626
Finance leases1714
Weighted average discount rate (%)
Operating leases
Finance leases
(1)As of June 30, 2023 and December 31, 2022, operating lease right-of-use assets, net included $3.5 billion related to the Bellagio lease.
(2)As of June 30, 2023 and December 31, 2022, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease.
Finance Lease Maturity
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2023 (excluding the six months ended June 30, 2023)$899,947 $42,714 
20241,829,804 8,881 
20251,858,056 8,379 
20261,884,704 7,144 
2027839,670 7,116 
Thereafter51,958,061 135,230 
Total future minimum lease payments59,270,242 209,464 
Less: Amount of lease payments representing interest(34,070,242)(81,044)
Present value of future minimum lease payments25,200,000 128,420 
Less: Current portion(63,281)(41,124)
Long-term portion of lease liabilities$25,136,719 $87,296 
Operating Lease Maturity
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2023 (excluding the six months ended June 30, 2023)$899,947 $42,714 
20241,829,804 8,881 
20251,858,056 8,379 
20261,884,704 7,144 
2027839,670 7,116 
Thereafter51,958,061 135,230 
Total future minimum lease payments59,270,242 209,464 
Less: Amount of lease payments representing interest(34,070,242)(81,044)
Present value of future minimum lease payments25,200,000 128,420 
Less: Current portion(63,281)(41,124)
Long-term portion of lease liabilities$25,136,719 $87,296