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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Components of Lease Costs | Other information. Components of lease costs and other information related to the Company’s leases are:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1) | $ | 575,112 |  |  | $ | 615,137 |  |  | $ | 1,731,572 |  |  | $ | 1,375,973 |
Finance lease costs |  |  |  |  |  |  |
Interest expense | $ | 2,484 |  |  | $ | 2,037 |  |  | $ | 7,005 |  |  | $ | 4,741 |
Amortization expense | 17,030 |  |  | 18,406 |  |  | 51,869 |  |  | 58,056 |
Total finance lease costs | $ | 19,514 |  |  | $ | 20,443 |  |  | $ | 58,874 |  |  | $ | 62,797 |
(1)Operating lease cost includes $83 million for each of the three months ended September 30, 2023 and 2022 and $248 million for each of the nine months ended September 30, 2023 and 2022 related to the Bellagio lease, which is held with a related party.
| Nine Months Ended September 30,
| 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities | (In thousands)
Operating cash outflows from operating leases | $ | 1,350,828 |  |  | $ | 1,065,498 |
Operating cash outflows from finance leases | 4,917 |  |  | 4,746 |
Financing cash outflows from finance leases(1) | 53,211 |  |  | 69,663 |
ROU assets obtained in exchange for new lease liabilities |  |  |
Operating leases | $ | 12,347 |  |  | $ | 15,538,156 |
Finance leases | 518 |  |  | 87,840 |
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Schedule of Supplemental Balance Sheet Information Related to Leases |
| September 30, 2023 |  | December 31, 2022
| (In thousands)
Operating leases |  |  |
Operating lease ROU assets, net(1) | $ | 24,150,291 |  |  | $ | 24,530,929 |
Operating lease liabilities - current, classified within “Other accrued liabilities” | $ | 73,112 |  |  | $ | 53,981 |
Operating lease liabilities - long-term(2) | 25,129,233 |  |  | 25,149,299 |
Total operating lease liabilities | $ | 25,202,345 |  |  | $ | 25,203,280 |
Finance leases |  |  |
Finance lease ROU assets, net, classified within “Property and equipment, net” | $ | 99,211 |  |  | $ | 150,571 |
Finance lease liabilities - current, classified within “Other accrued liabilities” | $ | 24,502 |  |  | $ | 72,420 |
Finance lease liabilities - long-term, classified within “Other long-term obligations” | 86,618 |  |  | 88,181 |
Total finance lease liabilities | $ | 111,120 |  |  | $ | 160,601 |
Weighted average remaining lease term (years) |  |  |
Operating leases | 26 |  | 26
Finance leases | 20 |  | 14
Weighted average discount rate (%) |  |  |
Operating leases | 7 |  |  | 7 |
Finance leases | 6 |  |  | 5 |
(1)As of September 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 September 30, 2023 and December 31, 2022, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease.
Schedule of Finance Lease Maturity | Maturities of lease liabilities were as follows:
| Operating Leases |  | Finance Leases
Year ending December 31, | (In thousands)
2023 (excluding the nine months ended September 30, 2023) | $ | 454,089 |  |  | $ | 23,892 |
2024 | 1,829,983 |  |  | 8,882 |
2025 | 1,858,146 |  |  | 8,379 |
2026 | 1,884,697 |  |  | 7,144 |
2027 | 839,668 |  |  | 7,116 |
Thereafter | 51,958,061 |  |  | 135,230 |
Total future minimum lease payments | 58,824,644 |  |  | 190,643 |
Less: Amount of lease payments representing interest | (33,622,299) |  |  | (79,523) |
Present value of future minimum lease payments | 25,202,345 |  |  | 111,120 |
Less: Current portion | (73,112) |  |  | (24,502) |
Long-term portion of lease liabilities | $ | 25,129,233 |  |  | $ | 86,618 |
Schedule of Operating Lease Maturity | Maturities of lease liabilities were as follows:
| Operating Leases |  | Finance Leases
Year ending December 31, | (In thousands)
2023 (excluding the nine months ended September 30, 2023) | $ | 454,089 |  |  | $ | 23,892 |
2024 | 1,829,983 |  |  | 8,882 |
2025 | 1,858,146 |  |  | 8,379 |
2026 | 1,884,697 |  |  | 7,144 |
2027 | 839,668 |  |  | 7,116 |
Thereafter | 51,958,061 |  |  | 135,230 |
Total future minimum lease payments | 58,824,644 |  |  | 190,643 |
Less: Amount of lease payments representing interest | (33,622,299) |  |  | (79,523) |
Present value of future minimum lease payments | 25,202,345 |  |  | 111,120 |
Less: Current portion | (73,112) |  |  | (24,502) |
Long-term portion of lease liabilities | $ | 25,129,233 |  |  | $ | 86,618 |

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