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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Casino $ 1,062 $ 420 $ 2,045 $ 810
Food and beverage 391 205 774 411
Rooms 388 242 755 489
Other revenue 215 141 387 264
Management fees 15 0 30 0
Reimbursed management costs 48 0 100 0
Net revenues 2,119 1,008 4,091 1,974
Direct        
Casino 567 227 1,131 449
Food and beverage 273 142 539 283
Rooms 121 82 236 162
Property, general, administrative, and other 451 246 873 477
Reimbursable management costs 48 0 100 0
Depreciation and amortization 268 96 548 198
Corporate expense 76 48 158 89
Other operating costs [1] 33 18 99 17
Total operating expenses 1,837 859 3,684 1,675
Income from operations 282 149 407 299
Interest expense (334) (142) (664) (289)
Restructuring and support expenses and other [2],[3] (45) 1,407 (229) 1,871
Loss before income taxes (7) (1,400) (28) (1,861)
Income tax benefit/(provision) [4],[5] 36 (32) 23 (79)
Net income/(loss) 29 (1,432) (5) (1,940)
Net loss attributable to noncontrolling interests 0 0 0 1
Net income/(loss) attributable to Caesars $ 29 $ (1,432) $ (5) $ (1,939)
Earnings/(loss) per share - basic and diluted        
Basic and diluted earnings/(loss) per share $ 0.04 $ (9.62) $ (0.01) $ (13.09)
Weighted-average common shares outstanding - basic 698 149 697 148
Weighted-average common shares outstanding - diluted 702 149 697 148
Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Foreign currency translation adjustments $ (22) $ 0 $ (19) $ 0
Change in fair market value of interest rate swaps, net of tax 9 0 13 0
Other 0 0 1 0
Other comprehensive loss, net of income taxes (13) 0 (5) 0
Comprehensive income/(loss) 16 (1,432) (10) (1,940)
Foreign currency translation adjustments 5 0 3 0
Comprehensive loss attributable to noncontrolling interests (5) 0 (3) (1)
Comprehensive income/(loss) attributable to Caesars $ 21 $ (1,432) $ (7) $ (1,939)
[1] (3) Amounts primarily represent costs incurred in connection with costs associated with the development activities and reorganization activities, and/or recoveries associated with such items.
[2] (1) 2018 amount primarily represents a change in fair value of our derivative liability related to the conversion option of the CEC Convertible Notes; 2017 amount primarily represents CEC’s costs in connection with the restructuring of CEOC.
[3] (2) 2018 amount primarily represents a change in fair value of our derivative liability related to the conversion option of the CEC Convertible Notes; 2017 amount primarily represents CEC’s costs in connection with the restructuring of CEOC.
[4] (1) Taxes are recorded at the consolidated level and not estimated or recorded to our Las Vegas and Other U.S. segments.
[5] (2) Taxes are recorded at the consolidated level and not estimated or recorded to our Las Vegas and Other U.S. segments.