The Company’s segment information is as follows as of and for the years ended December 31, 2014, 2013 and 2012 (in thousands):



	Year Ended December 31,
	2014			2013			2012
Net Revenues
Macao:
The Venetian Macao	$	4,040,681		$	3,851,230		$	3,037,975
Sands Cotai Central	3,133,864			2,698,430			1,052,124
Four Seasons Macao	1,107,779			1,065,405			1,086,456
Sands Macao	1,174,795			1,237,016			1,250,552
Other Asia	151,778			139,572			148,330
	9,608,897			8,991,653			6,575,437
Marina Bay Sands	3,214,210			2,968,366			2,886,139
United States:
Las Vegas Operating Properties	1,478,769			1,518,024			1,384,629
Sands Bethlehem	504,237			496,738			470,458
	1,983,006			2,014,762			1,855,087
Intersegment eliminations	(222,264		)	(204,896		)	(185,531		)
Total net revenues	$	14,583,849		$	13,769,885		$	11,131,132



	Year Ended December 31,
	2014		2013		2012
Intersegment Revenues
Macao:
The Venetian Macao	$	5,591	$	5,296	$	5,125
Sands Cotai Central	301		356		251
Other Asia	42,330		34,120		32,748
	48,222		39,772		38,124
Marina Bay Sands	12,209		9,548		3,449
Las Vegas Operating Properties	161,833		155,576		143,958
Total intersegment revenues	$	222,264	$	204,896	$	185,531



	Year Ended December 31,
	2014			2013			2012
Adjusted Property EBITDA⁽¹⁾
Macao:
The Venetian Macao	$	1,546,323		$	1,499,937		$	1,143,245
Sands Cotai Central	1,001,487			739,723			213,476
Four Seasons Macao	374,899			305,040			288,170
Sands Macao	338,590			362,858			350,639
Other Asia	3,493			(3,855		)	(15,950		)
	3,264,792			2,903,703			1,979,580
Marina Bay Sands	1,723,147			1,384,576			1,366,245
United States:
Las Vegas Operating Properties	313,913			351,739			331,182
Sands Bethlehem	120,491			123,337			114,055
	434,404			475,076			445,237
Total adjusted property EBITDA	5,422,343			4,763,355			3,791,062
Other Operating Costs and Expenses
Stock-based compensation	(28,769		)	(30,053		)	(30,772		)
Legal settlement	—			(47,400		)	—
Corporate	(174,750		)	(189,535		)	(207,030		)
Pre-opening	(26,230		)	(13,339		)	(143,795		)
Development	(14,325		)	(15,809		)	(19,958		)
Depreciation and amortization	(1,031,589		)	(1,007,468		)	(892,046		)
Amortization of leasehold interests in land	(40,598		)	(40,352		)	(40,165		)
Impairment loss	—			—			(143,674		)
Loss on disposal of assets	(6,856		)	(11,156		)	(2,240		)
Operating income	4,099,226			3,408,243			2,311,382
Other Non-Operating Costs and Expenses
Interest income	25,643			16,337			23,252
Interest expense, net of amounts capitalized	(274,181		)	(271,211		)	(258,564		)
Other income	1,965			4,321			5,740
Loss on modification or early retirement of debt	(19,942		)	(14,178		)	(19,234		)
Income tax expense	(244,640		)	(188,836		)	(180,763		)
Net income	$	3,588,071		$	2,954,676		$	1,881,813

_________________________

(1)

Adjusted property EBITDA is net income before intersegment royalty fees, stock-based compensation expense, legal settlement expense (see "— Note 13 — Commitments and Contingencies — Litigation"), corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, impairment loss, loss on disposal of assets, interest, other income, loss on modification or early retirement of debt and income taxes. Adjusted property EBITDA is used by management as the primary measure of operating performance of the Company’s properties and to compare the operating performance of the Company’s properties with that of its competitors.



	Year Ended December 31,
	2014		2013		2012
Capital Expenditures
Corporate and Other	$	32,030	$	41,152	$	100,887
Macao:
The Venetian Macao	125,293		96,172		112,351
Sands Cotai Central	345,748		262,540		862,951
Four Seasons Macao	41,440		15,003		28,143
Sands Macao	40,402		26,491		25,076
Other Asia	2,617		1,319		1,193
The Parisian Macao	390,582		212,842		20,393
	946,082		614,367		1,050,107
Marina Bay Sands	79,612		142,706		119,647
United States:
Las Vegas Operating Properties	108,666		93,191		156,205
Sands Bethlehem	12,266		6,695		22,388
	120,932		99,886		178,593
Total capital expenditures	$	1,178,656	$	898,111	$	1,449,234



	December 31,
	2014		2013		2012
Total Assets
Corporate and Other	$	613,683	$	630,673	$	586,788
Macao:
The Venetian Macao	3,900,921		4,367,533		3,254,193
Sands Cotai Central	4,761,907		4,669,358		4,791,560
Four Seasons Macao	1,157,502		1,273,654		1,338,714
Sands Macao	414,689		383,444		414,531
Other Asia	304,463		328,332		345,522
The Parisian Macao	805,220		376,014		118,975
Other Development Projects	91		169		123
	11,344,793		11,398,504		10,263,618
Marina Bay Sands	6,106,397		6,354,231		6,941,510
United States:
Las Vegas Operating Properties	3,623,808		3,653,127		3,605,513
Sands Bethlehem	673,010		687,729		766,223
	4,296,818		4,340,856		4,371,736
Total assets	$	22,361,691	$	22,724,264	$	22,163,652



	December 31,
	2014		2013		2012
Total Long-Lived Assets
Corporate and Other	$	357,071	$	388,448	$	398,100
Macao:
The Venetian Macao	1,893,032		1,925,040		1,968,415
Sands Cotai Central	3,814,699		3,772,095		3,836,471
Four Seasons Macao	932,034		928,396		971,732
Sands Macao	286,640		279,395		285,344
Other Asia	177,335		189,136		202,392
The Parisian Macao	804,328		376,014		118,912
	7,908,068		7,470,076		7,383,266
Marina Bay Sands	4,874,263		5,277,126		5,657,351
United States:
Las Vegas Operating Properties	3,024,380		3,073,793		3,179,426
Sands Bethlehem	561,782		578,329		607,346
	3,586,162		3,652,122		3,786,772
Total long-lived assets	$	16,725,564	$	16,787,772	$	17,225,489