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LEASES
 9 Months Ended
Sep. 30, 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
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$575,293 $575,112 $1,725,494 $1,731,572 
Finance lease costs
Interest expense$8,891 $2,484 $27,701 $7,005 
Amortization expense14,755 17,030 40,711 51,869 
Total finance lease costs$23,646 $19,514 $68,412 $58,874 
(1)Operating lease cost includes $83 million for each of the three months ended September 30, 2024 and 2023 and $248 million for each of the nine months ended September 30, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 September 30,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,658,647 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$88,364 $74,988 
Operating lease liabilities - long-term(2)
25,092,217 25,127,464 
Total operating lease liabilities$25,180,581 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$320,200 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$71,455 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
259,464 85,391 
Total finance lease liabilities$330,919 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases822
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of September 30, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.4 billion and $3.5 billion related to the Bellagio lease, respectively.
(2)As of September 30, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease. As of September 30, 2024, operating lease liabilities – current included $2 million related to the Bellagio lease.

 Nine Months Ended
September 30,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$1,377,717 $1,350,828 
Operating cash outflows from finance leases11,389 4,917 
Financing cash outflows from finance leases(1)
38,745 53,211 
ROU assets obtained in exchange for new lease liabilities
Operating leases$5,079 $12,347 
Finance leases272,878 518 
(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 nine months ended September 30, 2024)$459,142 $25,229 
20251,864,318 84,460 
20261,889,911 81,026 
20271,917,382 80,708 
20281,945,374 29,445 
Thereafter48,944,154 128,248 
Total future minimum lease payments57,020,281 429,116 
Less: Amount of lease payments representing interest(31,839,700)(98,197)
Present value of future minimum lease payments25,180,581 330,919 
Less: Current portion(88,364)(71,455)
Long-term portion of lease liabilities$25,092,217 $259,464 
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
September 30,		Nine Months Ended
September 30,
 2024202320242023
 (In thousands)
Operating lease cost, primarily classified within “General and administrative”(1)
$575,293 $575,112 $1,725,494 $1,731,572 
Finance lease costs
Interest expense$8,891 $2,484 $27,701 $7,005 
Amortization expense14,755 17,030 40,711 51,869 
Total finance lease costs$23,646 $19,514 $68,412 $58,874 
(1)Operating lease cost includes $83 million for each of the three months ended September 30, 2024 and 2023 and $248 million for each of the nine months ended September 30, 2024 and 2023 related to the Bellagio lease, which is held with a related party.
 September 30,
2024		December 31,
2023
(In thousands)
Operating leases
Operating lease ROU assets, net(1)
$23,658,647 $24,027,465 
Operating lease liabilities - current, classified within “Other accrued liabilities”
$88,364 $74,988 
Operating lease liabilities - long-term(2)
25,092,217 25,127,464 
Total operating lease liabilities$25,180,581 $25,202,452 
Finance leases
Finance lease ROU assets, net, classified within “Property and equipment, net”
$320,200 $85,783 
Finance lease liabilities - current, classified within “Other accrued liabilities”
$71,455 $9,166 
Finance lease liabilities - long-term, classified within “Other long-term obligations”
259,464 85,391 
Total finance lease liabilities$330,919 $94,557 
Weighted average remaining lease term (years)
Operating leases2525
Finance leases822
Weighted average discount rate (%)
Operating leases7 7 
Finance leases6 6 
(1)As of September 30, 2024 and December 31, 2023, operating lease right-of-use assets, net included $3.4 billion and $3.5 billion related to the Bellagio lease, respectively.
(2)As of September 30, 2024 and December 31, 2023, operating lease liabilities – long-term included $3.8 billion related to the Bellagio lease. As of September 30, 2024, operating lease liabilities – current included $2 million related to the Bellagio lease.

 Nine Months Ended
September 30,
 20242023
Cash paid for amounts included in the measurement of lease liabilities(In thousands)
Operating cash outflows from operating leases$1,377,717 $1,350,828 
Operating cash outflows from finance leases11,389 4,917 
Financing cash outflows from finance leases(1)
38,745 53,211 
ROU assets obtained in exchange for new lease liabilities
Operating leases$5,079 $12,347 
Finance leases272,878 518 
(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 nine months ended September 30, 2024)$459,142 $25,229 
20251,864,318 84,460 
20261,889,911 81,026 
20271,917,382 80,708 
20281,945,374 29,445 
Thereafter48,944,154 128,248 
Total future minimum lease payments57,020,281 429,116 
Less: Amount of lease payments representing interest(31,839,700)(98,197)
Present value of future minimum lease payments25,180,581 330,919 
Less: Current portion(88,364)(71,455)
Long-term portion of lease liabilities$25,092,217 $259,464