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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Taxes for Domestic and Foreign Operations | Income (loss) before income taxes for domestic and foreign operations consisted of the following:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Domestic operations |  | $ | 1,214,888 |  |  | $ | 4,251,418 |  |  | $ | 2,094,324 |
Foreign operations |  | 257,875 |  |  | (3,347,619) |  |  | (632,520) |
|  | $ | 1,472,763 |  |  | $ | 903,799 |  |  | $ | 1,461,804 |
Schedule of Benefit (Provision) for Income Taxes Attributable to Income (Loss) Before Income Taxes | The benefit (provision) for income taxes attributable to income (loss) before income taxes is as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Federal: |  | (In thousands)
Current |  | $ | (259,128) |  |  | $ | (206,426) |  |  | $ | (8,984) |
Deferred (excluding separate components) |  | (48,363) |  |  | (678,371) |  |  | (189,657) |
Deferred – valuation allowance change |  | 153,768 |  |  | 5,346 |  |  | (14,967) |
Other noncurrent |  | 10,969 |  |  | 18,326 |  |  | (14,262) |
Provision for federal income taxes |  | (142,754) |  |  | (861,125) |  |  | (227,870) |
State: |  |  |  |  |  |
Current |  | (24,931) |  |  | (10,389) |  |  | 5 |
Deferred (excluding separate components) |  | 11,206 |  |  | (33,878) |  |  | (28,068) |
Deferred – operating loss carryforward |  | (12,219) |  |  | (15,442) |  |  | (27,936) |
Deferred – valuation allowance change |  | (2,140) |  |  | (2,345) |  |  | (601) |
Other noncurrent |  | — |  |  | — |  |  | 13,260 |
Provision for state income taxes |  | (28,084) |  |  | (62,054) |  |  | (43,340) |
Foreign: |  |  |  |  |  |
Current |  | 223 |  |  | (2,259) |  |  | (3,717) |
Deferred (excluding separate components) |  | 5,611 |  |  | 311,614 |  |  | 8,943 |
Deferred – operating loss carryforward |  | (57,485) |  |  | 6,331 |  |  | 5,793 |
Deferred – valuation allowance change |  | 64,650 |  |  | (89,575) |  |  | 6,776 |
Benefit for foreign income taxes |  | 12,999 |  |  | 226,111 |  |  | 17,795 |
|  | $ | (157,839) |  |  | $ | (697,068) |  |  | $ | (253,415) |
Schedule of Reconciliation of the Federal Income Tax Statutory Rate and the Company's Effective Tax Rate | A reconciliation of the federal income tax statutory rate and the Company’s effective tax rate is as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Federal income tax statutory rate |  | 21.0 | % |  | 21.0 | % |  | 21.0 | %
Noncontrolling interest |  | (0.1) |  |  | (2.4) |  |  | (3.2) |
Foreign income/losses taxed at other than U.S. statutory rate |  | (3.6) |  |  | 53.3 |  |  | 8.2 |
Federal valuation allowance |  | (10.4) |  |  | (0.6) |  |  | 1.0 |
State taxes, net |  | 1.5 |  |  | 5.5 |  |  | 2.3 |
Gain on consolidation of CityCenter, net |  | — |  |  | — |  |  | (10.1) |
General business credits |  | (1.2) |  |  | (1.5) |  |  | (0.3) |
Incremental U.S. tax on foreign earnings |  | 2.4 |  |  | — |  |  | — |
Permanent and other items |  | 1.1 |  |  | 1.8 |  |  | (1.6) |
|  | 10.7 | % |  | 77.1 | % |  | 17.3 | %
Schedule of Tax-Effected Components of the Company's Net Deferred Tax Liability | The tax-effected components of the Company’s net deferred tax liability are as follows:
|  | December 31,
|  | 2023 |  | 2022
Deferred tax assets – federal and state: |  | (In thousands)
Net operating loss carryforward |  | $ | 13,498 |  |  | $ | 23,151 |
Accruals, reserves and other |  | 52,854 |  |  | 9,481 |
Lease liabilities |  | 5,703,953 |  |  | 5,830,582 |
Tax credits |  | 1,788,001 |  |  | 2,764,266 |
|  | 7,558,306 |  |  | 8,627,480 |
Less: Valuation allowance |  | (1,598,291) |  |  | (2,641,770) |
|  | 5,960,015 |  |  | 5,985,710 |
Deferred tax assets – foreign: |  |  |  |
Net operating loss carryforward |  | 141,201 |  |  | 198,686 |
Accruals, reserves and other |  | 9,266 |  |  | 12,315 |
Property and equipment |  | 33,944 |  |  | 32,585 |
Lease liabilities |  | 1,270 |  |  | 1,219 |
|  | 185,681 |  |  | 244,805 |
Less: Valuation allowance |  | (180,155) |  |  | (244,805) |
|  | 5,526 |  |  | — |
Total deferred tax assets |  | $ | 5,965,541 |  |  | $ | 5,985,710 |
Deferred tax liabilities – federal and state: |  |  |  |
Property and equipment |  | $ | (389,854) |  |  | $ | (330,857) |
Investments in unconsolidated affiliates |  | (584,448) |  |  | (585,275) |
Investment in equity securities |  | (2,234,754) |  |  | (2,236,093) |
ROU assets |  | (5,390,561) |  |  | (5,612,241) |
Intangibles |  | (197,893) |  |  | (160,991) |
|  | (8,797,510) |  |  | (8,925,457) |
Deferred tax liabilities – foreign: |  |  |  |
Intangibles |  | (29,028) |  |  | (29,696) |
|  | (29,028) |  |  | (29,696) |
Total deferred tax liability |  | (8,826,538) |  |  | (8,955,153) |
Net deferred tax liability |  | $ | (2,860,997) |  |  | $ | (2,969,443) |
Schedule of Income Tax Valuation Allowance | Deferred income tax valuation allowance consisted of the following:
|  | Balance at Beginning of Period |  | Increase |  | Decrease |  | Balance at End of Period
Deferred income tax valuation allowance: |  | (In thousands)
Year Ended December 31, 2023 |  | $ | 2,886,575 |  |  | $ | — |  |  | $ | (1,108,129) |  |  | $ | 1,778,446 |
Year Ended December 31, 2022 |  | 2,884,262 |  |  | 2,313 |  |  | — |  |  | 2,886,575 |
Year Ended December 31, 2021 |  | 2,875,595 |  |  | 8,667 |  |  | — |  |  | 2,884,262 |
Schedule of Reconciliation of the Beginning and Ending Amounts of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Gross unrecognized tax benefits at January 1 |  | $ | 6,885 |  |  | $ | 19,568 |  |  | $ | 35,617 |
Gross increases - prior period tax positions |  | 710 |  |  | — |  |  | 12,949 |
Gross decreases - prior period tax positions |  | — |  |  | (12,968) |  |  | (13,388) |
Gross increases - current period tax positions |  | 996 |  |  | 285 |  |  | 654 |
Settlements with Taxing Authorities |  | — |  |  | — |  |  | (16,264) |
Gross unrecognized tax benefits at December 31 |  | $ | 8,591 |  |  | $ | 6,885 |  |  | $ | 19,568 |

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