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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 1,314,924 $ 206,731 $ 1,208,389
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 814,128 3,482,050 1,150,610
Amortization of debt discounts, premiums and issuance costs 27,844 32,769 40,328
Loss on early retirement of debt 0 0 37
Provision for credit losses 48,984 22,738 21,852
Stock-based compensation 73,607 71,296 65,183
Property transactions, net (370,513) (1,036,997) (67,736)
Foreign currency transaction loss 106,428 19,081 12,551
Gain on REIT transactions, net 0 (2,277,747) 0
Gain on consolidation of CityCenter, net 0 0 (1,562,329)
Noncash lease expense 516,120 437,603 188,917
Other investment losses (gains) 1,112 (12,430) (28,417)
Loss (income) from unconsolidated affiliates 63,136 183,670 (1,580)
Distributions from unconsolidated affiliates 20,121 37,435 99,370
Deferred income taxes (117,278) 496,189 241,947
Change in operating assets and liabilities:      
Accounts receivable (132,288) (211,687) (236,182)
Inventories (15,524) (26,627) 3,107
Income taxes receivable and payable, net (58,493) 197,097 (30,444)
Prepaid expenses and other (50,875) (14,424) (36,608)
Accounts payable and accrued liabilities 410,131 183,839 442,626
Other 39,213 (34,124) (138,198)
Net cash provided by operating activities 2,690,777 1,756,462 1,373,423
Cash flows from investing activities      
Capital expenditures (931,813) (765,067) (490,697)
Dispositions of property and equipment 5,431 112,019 106,600
Proceeds from sale of operating resorts 460,392 1,054,313 0
Proceeds from repayment of principal on note receivable 152,518 0 0
Proceeds from real estate transactions 0 4,373,820 3,888,431
Acquisitions, net of cash acquired (122,058) (1,889,118) (1,789,604)
Investments in unconsolidated affiliates (161,040) (254,786) (226,889)
Distributions from unconsolidated affiliates 8,342 10,361 9,694
Investments and other (125,947) (523,361) 46,110
Net cash provided by (used in) investing activities (714,175) 2,118,181 1,543,645
Cash flows from financing activities      
Net borrowings (repayments) under bank credit facilities – maturities of 90 days or less (1,097,306) 1,148,276 (2,096,217)
Issuance of long-term debt 0 0 749,775
Repayment of long-term debt (1,285,600) (1,070,340) 0
Debt issuance costs (21,535) (1,367) (18,726)
Issuance of MGM Growth Properties Class A shares, net 0 0 792,851
Dividends paid to common shareholders 0 (4,048) (4,789)
Distributions to noncontrolling interest owners (177,093) (210,699) (324,190)
Repurchases of common stock (2,291,917) (2,775,217) (1,753,509)
Other (131,180) (110,907) (159,290)
Net cash used in financing activities (5,004,631) (3,024,302) (2,814,095)
Effect of exchange rate on cash, cash equivalents, and restricted cash (19,401) 8,926 (1,551)
Change in cash and cash equivalents classified as assets held for sale 25,938 (25,938) 0
Cash, cash equivalents, and restricted cash      
Net change for the period (3,021,492) 833,329 101,422
Balance, beginning of period 6,036,388 5,203,059 5,101,637
Balance, end of period 3,014,896 6,036,388 5,203,059
Supplemental cash flow disclosures      
Interest paid, net of amounts capitalized 452,160 573,629 705,680
Federal, state and foreign income taxes paid, net 344,397 22,955 43,018
Gaming Subconcession | MGM Grand Paradise      
Non-cash financing activities      
MGM Grand Paradise gaming concession intangible asset 226,083 0 0
MGM Grand Paradise gaming concession long-term obligation $ 226,083 $ 0 $ 0