XML 74 R57.htm IDEA: XBRL DOCUMENT v3.24.2
Debt - Schedule of Outstanding Indebtedness (Details)
$ in Thousands, £ in Millions, $ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Feb. 08, 2022
Jun. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jun. 30, 2024
CAD ($)
Jun. 30, 2024
GBP (£)
Mar. 18, 2024
USD ($)
Debt Instrument              
Debt instrument, face amount   $ 17,118,975 $ 17,118,975 $ 17,123,804      
Carrying Value   $ 16,727,361 $ 16,727,361 $ 16,724,125      
Weighted average interest rate   4.362% 4.362% 4.351% 4.362% 4.362%  
Unsecured Debt              
Debt Instrument              
Weighted average interest rate   4.51% 4.51%   4.51% 4.51%  
Unsecured Debt | MGM Grand/Mandalay Bay CMBS Debt              
Debt Instrument              
Debt instrument, face amount   $ 3,000,000 $ 3,000,000 $ 3,000,000      
Carrying Value   $ 2,786,550 $ 2,786,550 $ 2,773,758      
Interest rate, stated percentage   3.558% 3.558% 3.56% 3.558% 3.558%  
Unsecured Debt | 3.500% Notes              
Debt Instrument              
Debt instrument, face amount   $ 750,000 $ 750,000 $ 750,000      
Carrying Value   $ 748,544 $ 748,544 $ 747,364      
Interest rate, stated percentage   3.50% 3.50% 3.50% 3.50% 3.50%  
Unsecured Debt | 4.375% Notes              
Debt Instrument              
Debt instrument, face amount   $ 500,000 $ 500,000 $ 500,000      
Carrying Value   $ 498,641 $ 498,641 $ 497,864      
Interest rate, stated percentage   4.375% 4.375% 4.375% 4.375% 4.375%  
Unsecured Debt | 4.625% Notes              
Debt Instrument              
Debt instrument, face amount   $ 800,000 $ 800,000 $ 800,000      
Carrying Value   $ 793,843 $ 793,843 $ 790,641      
Interest rate, stated percentage   4.625% 4.625% 4.625% 4.625% 4.625%  
Unsecured Debt | 4.500% Notes              
Debt Instrument              
Debt instrument, face amount   $ 500,000 $ 500,000 $ 500,000      
Carrying Value   $ 489,020 $ 489,020 $ 486,520      
Interest rate, stated percentage   4.50% 4.50% 4.50% 4.50% 4.50%  
Unsecured Debt | 4.250% Notes              
Debt Instrument              
Debt instrument, face amount   $ 1,250,000 $ 1,250,000 $ 1,250,000      
Carrying Value   $ 1,243,106 $ 1,243,106 $ 1,241,678      
Interest rate, stated percentage   4.25% 4.25% 4.25% 4.25% 4.25%  
Unsecured Debt | 5.750% Notes              
Debt Instrument              
Debt instrument, face amount   $ 750,000 $ 750,000 $ 750,000      
Carrying Value   $ 755,693 $ 755,693 $ 756,800      
Interest rate, stated percentage   5.75% 5.75% 5.75% 5.75% 5.75%  
Unsecured Debt | 3.750% Notes              
Debt Instrument              
Debt instrument, face amount   $ 750,000 $ 750,000 $ 750,000      
Carrying Value   $ 745,604 $ 745,604 $ 744,762      
Interest rate, stated percentage   3.75% 3.75% 3.75% 3.75% 3.75%  
Unsecured Debt | 4.500% Notes              
Debt Instrument              
Debt instrument, face amount   $ 350,000 $ 350,000 $ 350,000      
Carrying Value   $ 340,950 $ 340,950 $ 339,689      
Interest rate, stated percentage   4.50% 4.50% 4.50% 4.50% 4.50%  
Unsecured Debt | 4.750% Notes              
Debt Instrument              
Debt instrument, face amount   $ 1,250,000 $ 1,250,000 $ 1,250,000      
Carrying Value   $ 1,240,851 $ 1,240,851 $ 1,239,594      
Interest rate, stated percentage   4.75% 4.75% 4.75% 4.75% 4.75%  
Hedge adjusted interest rate     4.516% 4.516%      
Unsecured Debt | 3.875% Notes              
Debt Instrument              
Debt instrument, face amount   $ 750,000 $ 750,000 $ 750,000      
Carrying Value   $ 697,178 $ 697,178 $ 691,692      
Interest rate, stated percentage   3.875% 3.875% 3.875% 3.875% 3.875%  
Unsecured Debt | 4.625% Notes              
Debt Instrument              
Debt instrument, face amount   $ 1,000,000 $ 1,000,000 $ 1,000,000      
Carrying Value   $ 991,332 $ 991,332 $ 990,531      
Interest rate, stated percentage   4.625% 4.625% 4.625% 4.625% 4.625%  
Unsecured Debt | 4.950% Notes              
Debt Instrument              
Debt instrument, face amount   $ 1,000,000 $ 1,000,000 $ 1,000,000      
Carrying Value   $ 990,213 $ 990,213 $ 989,347      
Interest rate, stated percentage   4.95% 4.95% 4.95% 4.95% 4.95%  
Hedge adjusted interest rate     4.541% 4.541%      
Unsecured Debt | 4.125% Notes              
Debt Instrument              
Debt instrument, face amount   $ 1,000,000 $ 1,000,000 $ 1,000,000      
Carrying Value   $ 990,866 $ 990,866 $ 990,111      
Interest rate, stated percentage   4.125% 4.125% 4.125% 4.125% 4.125%  
Unsecured Debt | 5.125% Notes              
Debt Instrument              
Debt instrument, face amount   $ 1,500,000 $ 1,500,000 $ 1,500,000      
Carrying Value   $ 1,483,855 $ 1,483,855 $ 1,482,836      
Interest rate, stated percentage   5.125% 5.125% 5.125% 5.125% 5.125%  
Hedge adjusted interest rate     3.98% 3.98%      
Unsecured Debt | 5.750% Notes              
Debt Instrument              
Debt instrument, face amount   $ 550,000 $ 550,000       $ 550,000
Carrying Value   $ 540,698 $ 540,698        
Interest rate, stated percentage   5.75% 5.75%   5.75% 5.75% 5.75%
Hedge adjusted interest rate     5.694%        
Unsecured Debt | 5.625% Notes              
Debt Instrument              
Debt instrument, face amount   $ 750,000 $ 750,000 $ 750,000      
Carrying Value   $ 736,101 $ 736,101 $ 735,854      
Interest rate, stated percentage   5.625% 5.625% 5.625% 5.625% 5.625%  
Unsecured Debt | 6.125% Notes              
Debt Instrument              
Debt instrument, face amount   $ 500,000 $ 500,000       $ 500,000
Carrying Value   $ 485,341 $ 485,341        
Interest rate, stated percentage   6.125% 6.125%   6.125% 6.125% 6.125%
Unsecured Debt | 5.625% Notes              
Debt Instrument              
Debt instrument, face amount       $ 1,050,000      
Carrying Value       $ 1,051,280      
Interest rate, stated percentage       5.625%     5.625%
Senior Notes | Delayed Draw Term Loan | Minimum              
Debt Instrument              
Commitment fee percentage     0.15%        
Senior Notes | Delayed Draw Term Loan | Maximum              
Debt Instrument              
Commitment fee percentage     0.375%        
Revolving Credit Facility | Minimum              
Debt Instrument              
Basis spread on variable rate (percent) 0.775%   0.775%        
Revolving Credit Facility | Maximum              
Debt Instrument              
Basis spread on variable rate (percent) 1.325%   1.325%        
Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Debt instrument, face amount         $ 215.0 £ 9.0  
Revolving Credit Facility | Senior Notes              
Debt Instrument              
Commitment fee percentage   0.21% 0.23%        
Revolving Credit Facility | Senior Notes | Minimum              
Debt Instrument              
Commitment fee percentage     0.15%        
Revolving Credit Facility | Senior Notes | Maximum              
Debt Instrument              
Commitment fee percentage     0.375%        
Secured Overnight Financing Rate (SOFR)              
Debt Instrument              
Basis spread on variable rate (percent) 1.00%            
Secured Overnight Financing Rate (SOFR) | Secured Debt              
Debt Instrument              
Basis spread on variable rate adjustment (percent)     0.10%        
Canadian Overnight Repo Rate Average (CORRA)              
Debt Instrument              
Basis spread on variable rate (percent) 1.00%            
Canadian Overnight Repo Rate Average (CORRA) | Loans Payable              
Debt Instrument              
Basis spread on variable rate adjustment (percent)     0.29547%        
Canadian Overnight Repo Rate Average (CORRA) | Revolving Credit Facility | Minimum              
Debt Instrument              
Basis spread on variable rate (percent) 0.00%            
Canadian Overnight Repo Rate Average (CORRA) | Revolving Credit Facility | Maximum              
Debt Instrument              
Basis spread on variable rate (percent) 0.325%            
USD | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Debt instrument, face amount   $ 0 $ 0 $ 0      
Carrying Value   0 $ 0 $ 0      
USD | Secured Overnight Financing Rate (SOFR) | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Basis spread on variable rate (percent)     0.85% 1.05%      
CAD | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Debt instrument, face amount   157,595 $ 157,595 $ 162,346      
Carrying Value   157,595 $ 157,595 $ 162,346      
CAD | Canadian Overnight Repo Rate Average (CORRA) | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Basis spread on variable rate (percent)     0.85%        
CAD | Canadian Dollar Offered Rate (CDOR) | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Basis spread on variable rate (percent)       1.05%      
United Kingdom, Pounds | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Debt instrument, face amount   11,380 $ 11,380 $ 11,458      
Carrying Value   $ 11,380 $ 11,380 $ 11,458      
United Kingdom, Pounds | Sterling Overnight Index Average (SONIA) | Revolving Credit Facility              
Debt Instrument              
Basis spread on variable rate (percent)       1.05%      
United Kingdom, Pounds | Sterling Overnight Index Average (SONIA) | Revolving Credit Facility | Unsecured Debt              
Debt Instrument              
Basis spread on variable rate (percent)     0.85%