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LEASES (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Schedule of Components of Lease Costs | Components of lease costs and other information related to the Company’s leases are:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1) | $ | 2,306,640 |  |  | $ | 1,986,853 |  |  | $ | 870,779 |
Finance lease costs |  |  |  |  |
Interest expense(2) | $ | 9,899 |  |  | $ | 9,233 |  |  | $ | 2,354 |
Amortization expense | 65,629 |  |  | 76,039 |  |  | 73,475 |
Total finance lease costs | $ | 75,528 |  |  | $ | 85,272 |  |  | $ | 75,829 |
(1)Operating lease cost includes $331 million for each of the years ended December 31, 2023, 2022, and 2021, related to the Bellagio lease, which is held with a related party. (2)For the year ended December 31, 2021, interest expense includes the effect of COVID-19 related rent concessions, which was recognized as negative variable rent expense.
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities | (In thousands)
Operating cash outflows from operating leases | $ | 1,802,577 |  |  | $ | 1,535,637 |  |  | $ | 669,681 |
Operating cash outflows from finance leases | 6,332 |  |  | 6,654 |  |  | 4,761 |
Financing cash outflows from finance leases(1) | 71,611 |  |  | 84,139 |  |  | 73,257 |
ROU assets obtained in exchange for new lease liabilities |  |  |  |  |
Operating leases | $ | 15,089 |  |  | $ | 15,538,208 |  |  | $ | 3,388,120 |
Finance leases | 3,073 |  |  | 87,856 |  |  | 24,433 |
(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 |
| December 31,
| 2023 |  | 2022
| (In thousands)
Operating leases |  |  |
Operating lease ROU assets, net(1) | $ | 24,027,465 |  | $ | 24,530,929
Operating lease liabilities - current, classified within “Other accrued liabilities” | $ | 74,988 |  | $ | 53,981
Operating lease liabilities - long-term(2) | 25,127,464 |  | 25,149,299
Total operating lease liabilities | $ | 25,202,452 |  | $ | 25,203,280
Finance leases |  |  |
Finance lease ROU assets, net, classified within “Property and equipment, net” | $ | 85,783 |  | $ | 150,571
Finance lease liabilities - current, classified within "Other accrued liabilities" | $ | 9,166 |  | $ | 72,420
Finance lease liabilities - long-term, classified within “Other long-term obligations” | 85,391 |  | 88,181
Total finance lease liabilities | $ | 94,557 |  | $ | 160,601
Weighted average remaining lease term (years) |  |  |
Operating leases | 25 |  | 26
Finance leases | 22 |  | 14
Weighted average discount rate (%) |  |  |
Operating leases | 7 |  |  | 7 |
Finance leases | 6 |  |  | 5 |
(1)As of December 31, 2023 and 2022, operating lease right-of-use assets, net included $3.5 billion related to the Bellagio lease for each of the respective periods. (2)As of December 31, 2023 and 2022, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease for each of the respective periods.
Schedule of Finance Lease Maturity | Maturities of lease liabilities were as follows:
| Operating Leases |  | Finance Leases
Year ending December 31, | (In thousands)
2024 | $ | 1,834,330 |  |  | $ | 15,835 |
2025 | 1,859,882 |  |  | 9,733 |
2026 | 1,886,090 |  |  | 7,158 |
2027 | 1,913,782 |  |  | 7,116 |
2028 | 1,941,940 |  |  | 7,036 |
Thereafter | 48,942,392 |  |  | 128,194 |
Total future minimum lease payments | 58,378,416 |  |  | 175,072 |
Less: Amount of lease payments representing interest | (33,175,964) |  |  | (80,515) |
Present value of future minimum lease payments | 25,202,452 |  |  | 94,557 |
Less: Current portion | (74,988) |  |  | (9,166) |
Long-term portion of lease liabilities | $ | 25,127,464 |  |  | $ | 85,391 |
Schedule of Operating Lease Maturity | Maturities of lease liabilities were as follows:
| Operating Leases |  | Finance Leases
Year ending December 31, | (In thousands)
2024 | $ | 1,834,330 |  |  | $ | 15,835 |
2025 | 1,859,882 |  |  | 9,733 |
2026 | 1,886,090 |  |  | 7,158 |
2027 | 1,913,782 |  |  | 7,116 |
2028 | 1,941,940 |  |  | 7,036 |
Thereafter | 48,942,392 |  |  | 128,194 |
Total future minimum lease payments | 58,378,416 |  |  | 175,072 |
Less: Amount of lease payments representing interest | (33,175,964) |  |  | (80,515) |
Present value of future minimum lease payments | 25,202,452 |  |  | 94,557 |
Less: Current portion | (74,988) |  |  | (9,166) |
Long-term portion of lease liabilities | $ | 25,127,464 |  |  | $ | 85,391 |

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