CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2011
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Revenues: | |||
Casino | $ 11,386,917 | $ 9,008,158 | $ 7,437,002 |
Rooms | 1,380,681 | 1,154,024 | 1,000,035 |
Food and beverage | 730,259 | 628,528 | 598,823 |
Mall | 481,400 | 396,927 | 325,123 |
Convention, retail and other | 515,179 | 497,032 | 501,351 |
Gross revenue | 14,494,436 | 11,684,669 | 9,862,334 |
Less — promotional allowances | (724,551) | (553,537) | (451,589) |
Net revenues | 13,769,885 | 11,131,132 | 9,410,745 |
Operating expenses: | |||
Casino | 6,483,718 | 5,128,036 | 4,007,887 |
Rooms | 271,942 | 237,303 | 210,052 |
Food and beverage | 369,570 | 331,210 | 307,446 |
Mall | 73,358 | 68,763 | 59,183 |
Convention, retail and other | 317,869 | 304,263 | 338,109 |
Provision for doubtful accounts | 237,786 | 239,332 | 150,456 |
General and administrative | 1,329,740 | 1,061,935 | 836,924 |
Corporate | 189,535 | 207,030 | 185,694 |
Pre-opening | 13,339 | 143,795 | 65,825 |
Development | 15,809 | 19,958 | 11,309 |
Depreciation and amortization | 1,007,468 | 892,046 | 794,404 |
Amortization of leasehold interests in land | 40,352 | 40,165 | 43,366 |
Impairment loss | 0 | 143,674 | 0 |
Loss on disposal of assets | 11,156 | 2,240 | 10,203 |
Total operating expenses | 10,361,642 | 8,819,750 | 7,020,858 |
Operating income | 3,408,243 | 2,311,382 | 2,389,887 |
Other income (expense): | |||
Interest income | 16,337 | 23,252 | 14,394 |
Interest expense, net of amounts capitalized | (271,211) | (258,564) | (282,949) |
Other income (expense) | 4,321 | 5,740 | (3,955) |
Loss on modification or early retirement of debt | (14,178) | (19,234) | (22,554) |
Income before income taxes | 3,143,512 | 2,062,576 | 2,094,823 |
Income tax expense | (188,836) | (180,763) | (211,704) |
Net income | 2,954,676 | 1,881,813 | 1,883,119 |
Net income attributable to noncontrolling interests | (648,679) | (357,720) | (322,996) |
Net income attributable to Las Vegas Sands Corp. | 2,305,997 | 1,524,093 | 1,560,123 |
Preferred stock dividends | 0 | (63,924) | |
Accretion to redemption value of preferred stock issued to Principal Stockholder’s family | 0 | (80,975) | |
Preferred stock inducement, repurchase and redemption premiums | 0 | (145,716) | |
Net income attributable to common stockholders | $ 2,305,997 | $ 1,524,093 | $ 1,269,508 |
Earnings per share: | |||
Basic (in usd per share) | $ 2.80 | $ 1.89 | $ 1.74 |
Diluted (in usd per share) | $ 2.79 | $ 1.85 | $ 1.56 |
Weighted average shares outstanding: | |||
Basic (in shares) | 822,282,515 | 806,395,660 | 728,343,428 |
Diluted (in shares) | 826,316,108 | 824,556,036 | 811,816,687 |
Dividends declared per common share | $ 1.40 | $ 3.75 |
X | ||||||||||
- Definition
The current period expense charged against earnings on leasehold interests in land to allocate or recognize the cost of such assets over their useful lives. No definition available.
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- Definition
Revenue generated by and derived from (1) providing the use of owned convention, exhibition and meeting facilities to outside parties, (2) owned retail store operations and (3) other ancillary goods and services. No definition available.
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- Definition
Costs incurred and are directly related to generating convention, retail and other revenues. No definition available.
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- Definition
Corporate expenses include payroll, travel, professional fees and various other expenses not allocated or directly related to integrated resort operations or related ancillary operations. No definition available.
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- Definition
Amount represents (1) the difference between the fair value of the payments made and the carrying amount of the debt at the time of its early retirement and/or (2) the write-off of deferred financing fees associated with the modification or early extinguishment of debt. No definition available.
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- Definition
Aggregate revenue recognized during the period, before deducting promotional allowances. No definition available.
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- Definition
Costs incurred and are directly related to generating mall revenues. No definition available.
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- Definition
Revenue generated by and derived from providing the use of mall facilities to outside parties. No definition available.
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- Definition
The excess of (1) the fair value of all consideration transferred in transactions by the registrant to the holders of the preferred stock and warrants over (2) the book value of the preferred stock and warrants, during the accounting period, which was subtracted from earnings available to common shareholders in the calculation of earnings per share. No definition available.
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- Definition
Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the cost of generating revenues from a hotel's, including cruise lines, gaming operations; likewise, such revenues may be derived from gaming operations that also are hoteliers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenues generated by casino operations. Also includes revenues generated by and derived from a hotel's, including cruise lines, gaming operations; likewise, such revenues may be derived from gaming operations that also are hoteliers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost related to generating revenue from the sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue from sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of interest income earned from interest bearing assets not separately disclosed. No definition available.
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Costs incurred and are directly related to generating occupancy revenues. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue derived from the provision of short term lodging; it does not apply to lease or rental income. Includes hotel rooms, cruise revenue, and other revenue related to lodgings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition
Expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the estimated retail value of accommodations, food and beverage, and other services furnished to guests without charge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The costs incurred in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, excluding in-process research and development acquired in a business combination consummated during the period. Excludes software research and development, which has a separate concept. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of decrease to net income for accretion of temporary equity to its redemption value to derive net income apportioned to common stockholders. No definition available.
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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