XML 71 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Schedule I (Notes) - Parent Company [Member]
 12 Months Ended
Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]  
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
CONDENSED BALANCE SHEETS
 
As of December 31,
(In millions)
2017
 
2016
Assets
 
 
 
Current assets
 
 
 
Cash and cash equivalents
$
926

 
$
106

Restricted cash
—

 
16

Receivables, net
33

 
—

Prepayments and other current assets
5

 
5

Intercompany receivables
33

 
46

Total current assets
997

 
173

Deferred charges and other assets
147

 
89

Investment in subsidiary
4,434

 
5,553

Total assets
$
5,578

 
$
5,815

 
 
 
 
Liabilities and Stockholders’ Equity/(Deficit)
 
 
 
Current liabilities
 
 
 
Accounts payable
$
5

 
$
33

Accrued expenses
13

 
85

Interest payables
13

 
—

Intercompany payables
65

 
20

Accrued restructuring and support expenses
—

 
6,601

Total current liabilities
96

 
6,739

Long-term debt
1,121

 
—

Deferred credits and other liabilities
1,136

 
146

Deferred income taxes
—

 
592

Total liabilities
2,353

 
7,477

Total stockholders’ equity/(deficit)
3,225

 
(1,662
)
Total liabilities and stockholders’ equity/(deficit)
$
5,578

 
$
5,815

CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)
 
Years Ended December 31,
(In millions)
2017
 
2016
 
2015
Net revenues
$
2

 
$
2

 
$
12

Operating expenses
 
 
 
 
 
Corporate expense
88

 
123

 
117

Other operating costs
24

 
58

 
120

Total operating expenses
112

 
181

 
237

Loss from operations
(110
)
 
(179
)
 
(225
)
Interest expense
(18
)
 
(5
)
 
(4
)
Gain on interests in subsidiaries
769

 
2,934

 
278

Gain on deconsolidation of subsidiary
—

 
—

 
7,125

Restructuring and support expenses
(1,842
)
 
(5,729
)
 
(1,017
)
Other income/(loss)
85

 
(30
)
 
1

Income/(loss) from operations before income taxes
(1,116
)
 
(3,009
)
 
6,158

Income tax benefit/(provision)
741

 
(39
)
 
(149
)
Net income/(loss)
(375
)
 
(3,048
)
 
6,009

Other comprehensive income, net of income taxes
—

 
—

 
—

Comprehensive income/(loss)
$
(375
)
 
$
(3,048
)
 
$
6,009

CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
CONDENSED STATEMENT OF CASH FLOWS
 
Years Ended December 31,
(In millions)
2017
 
2016
 
2015
Cash flows provided by/(used in) operating activities
$
1,504

 
$
(37
)
 
$
(277
)
Cash flows from investing activities
 
 
 
 
 
Payments to acquire investments
(700
)
 
—

 
—

Proceeds from long term receivable
—

 
—

 
40

Cash flows provided by/(used in) investing activities
(700
)
 
—

 
40

Cash flows from financing activities
 
 
 
 
 
Repayments of long-term debt
—

 
—

 
(68
)
Other financing
—

 
(8
)
 
(2
)
Cash flows used in financing activities
—

 
(8
)
 
(70
)
Net increase/(decrease) in cash, cash equivalents, and restricted cash
804

 
(45
)
 
(307
)
Cash, cash equivalents, and restricted cash, beginning of period
122

 
167

 
474

Cash, cash equivalents, and restricted cash, end of period
$
926

 
$
122

 
$
167

Background and basis of presentation
These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Caesars Entertainment Corporation and its subsidiaries exceed 25% of the consolidated net assets of Caesars Entertainment Corporation and its subsidiaries (the “Company”). This information should be read in conjunction with the Company’s consolidated financial statements included elsewhere in this filing.
2.
Restricted net assets of subsidiaries
Certain of the Company’s subsidiaries have restrictions on their ability to pay dividends or make intercompany loans and advances pursuant to financing arrangements and regulatory restrictions. The amount of restricted net assets the Company’s consolidated subsidiaries held as of December 31, 2017 and 2016 was approximately $3.2 billion and $4.0 billion, respectively. Such restrictions are on net assets of Caesars Entertainment Corporation and its subsidiaries. The amount of restricted net assets in the Company’s unconsolidated subsidiaries was not material to the financial statements.
3.
Commitments, contingencies, and long-term obligations
For a discussion of the Company’s commitments, contingencies, and long-term obligations under its senior secured credit facilities, see Note 12 of the Company’s consolidated financial statements.
Business Description and Basis of Presentation [Text Block]
Background and basis of presentation
These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Caesars Entertainment Corporation and its subsidiaries exceed 25% of the consolidated net assets of Caesars Entertainment Corporation and its subsidiaries (the “Company”). This information should be read in conjunction with the Company’s consolidated financial statements included elsewhere in this filing.
Restricted Assets Disclosure [Text Block]
Restricted net assets of subsidiaries
Certain of the Company’s subsidiaries have restrictions on their ability to pay dividends or make intercompany loans and advances pursuant to financing arrangements and regulatory restrictions. The amount of restricted net assets the Company’s consolidated subsidiaries held as of December 31, 2017 and 2016 was approximately $3.2 billion and $4.0 billion, respectively. Such restrictions are on net assets of Caesars Entertainment Corporation and its subsidiaries. The amount of restricted net assets in the Company’s unconsolidated subsidiaries was not material to the financial statements.
Commitments Contingencies and Guarantees [Text Block]
Commitments, contingencies, and long-term obligations
For a discussion of the Company’s commitments, contingencies, and long-term obligations under its senior secured credit facilities, see Note 12 of the Company’s consolidated financial statements