XML 27 R13.htm IDEA: XBRL DOCUMENT
v3.23.3

GOODWILL AND OTHER INTANGIBLE ASSETS | 9 Months Ended
--- | ---
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill and other intangible assets consisted of the following:
|  | September 30, 2023 |  | December 31, 2022
|  | (In thousands)
Goodwill |  | $ | 5,142,838 |  |  | $ | 5,029,312 |
Indefinite-lived intangible assets: |  |  |  |
Trademarks |  | $ | 752,537 |  |  | $ | 754,431 |
Gaming rights and other |  | 382,118 |  |  | 385,060 |
Total indefinite-lived intangible assets |  | 1,134,655 |  |  | 1,139,491 |
Finite-lived intangible assets: |  |  |  |
MGM Grand Paradise gaming subconcession |  | — |  |  | 4,519,486 |
Less: Accumulated amortization |  | — |  |  | (4,519,486) |
|  | — |  |  | — |
Customer lists |  | 299,732 |  |  | 283,232 |
Less: Accumulated amortization |  | (93,761) |  |  | (60,055) |
|  | 205,971 |  |  | 223,177 |
Gaming rights |  | 332,591 |  |  | 106,600 |
Less: Accumulated amortization |  | (55,583) |  |  | (33,316) |
|  | 277,008 |  |  | 73,284 |
Technology and other |  | 148,307 |  |  | 129,061 |
Less: Accumulated amortization |  | (32,562) |  |  | (13,761) |
|  | 115,745 |  |  | 115,300 |
Total finite-lived intangible assets, net |  | 598,724 |  |  | 411,761 |
Total other intangible assets, net |  | $ | 1,733,379 |  |  | $ | 1,551,252 |
Goodwill. A summary of changes in the Company’s goodwill is as follows:
|  | 2023
|  | Balance at January 1 |  | Acquisitions/Divestitures |  | Reclassifications |  | Currency exchange |  | Balance at September 30
|  | (In thousands)
Las Vegas Strip Resorts |  | $ | 2,707,009 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,707,009 |
Regional Operations |  | 660,940 |  |  | — |  |  | — |  |  | — |  |  | 660,940 |
MGM China |  | 1,350,878 |  |  | — |  |  | — |  |  | (5,011) |  |  | 1,345,867 |
Corporate and other |  | 310,485 |  |  | 125,612 |  |  | — |  |  | (7,075) |  |  | 429,022 |
|  | $ | 5,029,312 |  |  | $ | 125,612 |  |  | $ | — |  |  | $ | (12,086) |  |  | $ | 5,142,838 |
|  | 2022
|  | Balance at January 1 |  | Acquisitions |  | Reclassifications |  | Currency exchange |  | Balance at December 31
|  | (In thousands)
Las Vegas Strip Resorts |  | $ | 1,427,790 |  |  | $ | 1,279,219 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,707,009 |
Regional Operations |  | 701,463 |  |  | — |  |  | (40,523) |  |  | — |  |  | 660,940 |
MGM China |  | 1,351,744 |  |  | — |  |  | — |  |  | (866) |  |  | 1,350,878 |
Corporate and other |  | — |  |  | 288,367 |  |  | — |  |  | 22,118 |  |  | 310,485 |
|  | $ | 3,480,997 |  |  | $ | 1,567,586 |  |  | $ | (40,523) |  |  | $ | 21,252 |  |  | $ | 5,029,312 |
Refer to Note 3 for discussion on acquisitions, divestitures, and assets held for sale (reclassifications). MGM Grand Paradise gaming subconcession and concession. Pursuant to the gaming concession contract that MGM Grand Paradise entered into with the Macau government, which commenced January 1, 2023, MGM Grand Paradise is required, among other things, to pay a fixed annual premium and an annual variable premium based on the number of gaming tables and machines for the term of the gaming concession. Additionally, in connection with the expiration of the MGM Grand Paradise gaming subconcession on December 31, 2022, the casino areas of MGM Cotai and MGM Macau reverted, free of charge and without any encumbrances, to the Macau government, which became the legal owner of the reverted gaming assets. Upon the commencement of the gaming concession, the gaming assets were temporarily transferred to MGM Grand Paradise for the duration of the concession term in return for annual payments determined by square meters of the reverted casino areas. On January 1, 2023, MGM Grand Paradise recorded an intangible asset, included within “Gaming rights” above, of $226 million for the right to conduct gaming and operate the reverted gaming equipment and gaming areas and a corresponding liability for the in-substance consideration to be paid over the concession term for such rights, which is the unconditional obligation of the fixed and variable annual premiums, as well as the payments relating to the use of the reverted gaming assets. The initial value of the intangible asset and liability were measured as the present value of these payments based upon the approved number of gaming tables and slot machines, estimates of the Macau average price index, and square meters of the reverted casino areas, each as of January 1, 2023. The current portion of $7 million and noncurrent portion of $213 million of the remaining liability was recorded within “Other accrued liabilities” and “Other long-term liabilities,” respectively, in the consolidated balance sheets as of September 30, 2023. The gaming concession intangible asset is being amortized on a straight-line basis over the ten-year term of the gaming concession contract. The fully amortized gaming subconcession intangible asset was derecognized upon the expiration of the gaming subconcession and corresponding commencement of the gaming concession contract.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration