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LEASES
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
LEASES LEASES
The Company leases real estate, land underlying certain of its properties, and various equipment under operating and, to a lesser extent, finance lease arrangements.

Other information. Components of lease costs and other information related to the Company’s leases are:
 Three Months Ended
March 31,
 20242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$574,943 $580,988 
Finance lease costs
Interest expense$8,884 $1,414 
Amortization expense12,896 17,526 
Total finance lease costs$21,780 $18,940 
(1)Operating lease cost includes $83 million for each of the three months ended March 31, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 March 31,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,901,023 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$78,614 $74,988 
Operating lease liabilities - long-term(2)
25,115,883 25,127,464 
Total operating lease liabilities$25,194,497 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$261,302 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$51,382 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
217,257 85,391 
Total finance lease liabilities$268,639 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases1022
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of March 31, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.5 billion related to the Bellagio lease.
(2)As of March 31, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease.

 Three Months Ended
March 31,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$456,382 $453,480 
Operating cash outflows from finance leases3,817 1,787 
Financing cash outflows from finance leases(1)
14,309 21,119 
ROU assets obtained in exchange for new lease liabilities
Operating leases$3,072 $4,581 
Finance leases186,197 — 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2024 (excluding the three months ended March 31, 2024)$1,379,997 $49,601 
20251,860,924 61,777 
20261,886,070 58,347 
20271,913,779 58,154 
20281,941,940 7,036 
Thereafter48,942,391 128,194 
Total future minimum lease payments57,925,101 363,109 
Less: Amount of lease payments representing interest(32,730,604)(94,470)
Present value of future minimum lease payments25,194,497 268,639 
Less: Current portion(78,614)(51,382)
Long-term portion of lease liabilities$25,115,883 $217,257 
LEASES LEASES
The Company leases real estate, land underlying certain of its properties, and various equipment under operating and, to a lesser extent, finance lease arrangements.

Other information. Components of lease costs and other information related to the Company’s leases are:
 Three Months Ended
March 31,
 20242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$574,943 $580,988 
Finance lease costs
Interest expense$8,884 $1,414 
Amortization expense12,896 17,526 
Total finance lease costs$21,780 $18,940 
(1)Operating lease cost includes $83 million for each of the three months ended March 31, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 March 31,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,901,023 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$78,614 $74,988 
Operating lease liabilities - long-term(2)
25,115,883 25,127,464 
Total operating lease liabilities$25,194,497 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$261,302 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$51,382 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
217,257 85,391 
Total finance lease liabilities$268,639 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases1022
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of March 31, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.5 billion related to the Bellagio lease.
(2)As of March 31, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease.

 Three Months Ended
March 31,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$456,382 $453,480 
Operating cash outflows from finance leases3,817 1,787 
Financing cash outflows from finance leases(1)
14,309 21,119 
ROU assets obtained in exchange for new lease liabilities
Operating leases$3,072 $4,581 
Finance leases186,197 — 
(1)Included within “Other” within “Cash flows from financing activities” on the consolidated statements of cash flows.
Maturities of lease liabilities were as follows:
 Operating Leases  Finance Leases
Year ending December 31, (In thousands)
2024 (excluding the three months ended March 31, 2024)$1,379,997 $49,601 
20251,860,924 61,777 
20261,886,070 58,347 
20271,913,779 58,154 
20281,941,940 7,036 
Thereafter48,942,391 128,194 
Total future minimum lease payments57,925,101 363,109 
Less: Amount of lease payments representing interest(32,730,604)(94,470)
Present value of future minimum lease payments25,194,497 268,639 
Less: Current portion(78,614)(51,382)
Long-term portion of lease liabilities$25,115,883 $217,257