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Schedule I
 12 Months Ended
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]  
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
CONDENSED BALANCE SHEETS
 
As of December 31,
(In millions)
2019
 
2018
Assets
 
 
 
Current assets
 
 
 
Cash and cash equivalents
$
184

 
$
457

Receivables, net
24

 
21

Prepayments and other current assets
7

 
5

Intercompany receivables
20

 
20

Total current assets
235

 
503

Deferred charges and other assets
114

 
128

Investment in subsidiary
3,980

 
4,199

Total assets
$
4,329

 
$
4,830

 
 
 
 
Liabilities and Stockholders’ Equity
 
 
 
Current liabilities
 
 
 
Accounts payable
$
—

 
$
1

Accrued expenses and other current liabilities
10

 
7

Interest payable
14

 
14

Intercompany payables
21

 
20

Total current liabilities
45

 
42

Long-term debt
1,091

 
1,119

Deferred credits and other liabilities
1,062

 
419

Total liabilities
2,198

 
1,580

Total stockholders’ equity
2,131

 
3,250

Total liabilities and stockholders’ equity
$
4,329

 
$
4,830


CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS)
 
Years Ended December 31,
(In millions)
2019
 
2018
 
2017
Net revenues
$
2

 
$
2

 
$
2

Operating expenses
 
 
 
 
 
Corporate expense
40

 
33

 
88

Other operating costs
31

 
10

 
24

Total operating expenses
71

 
43

 
112

Loss from operations
(69
)
 
(41
)
 
(110
)
Interest expense
(63
)
 
(55
)
 
(18
)
Gain/(loss) on interests in subsidiaries
(457
)
 
(316
)
 
776

Restructuring and support expenses
—

 
—

 
(1,842
)
Other income/(loss)
(604
)
 
726

 
85

Income/(loss) from operations before income taxes
(1,193
)
 
314

 
(1,109
)
Income tax benefit/(provision)
(2
)
 
(11
)
 
741

Net income/(loss)
(1,195
)
 
303

 
(368
)
Other comprehensive income/(loss), net of income taxes
—

 
(30
)
 
6

Comprehensive income/(loss)
$
(1,195
)
 
$
273

 
$
(362
)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
 
Years Ended December 31,
(In millions)
2019
 
2018
 
2017
Cash flows provided by/(used in) operating activities
$
(281
)
 
$
(138
)
 
$
1,504

Cash flows from investing activities
 
 
 
 
 
Payments to acquire investments
—

 
—

 
(700
)
Proceeds from the sale and maturity of investments
17

 
—

 
—

Cash flows provided by/(used in) investing activities
17

 
—

 
(700
)
Cash flows from financing activities
 
 
 
 
 
Debt issuance and extension costs and fees
(28
)
 
—

 
—

Repayments of long-term debt
—

 
(2
)
 
—

Taxes paid related to net share settlement of equity awards
(28
)
 
(22
)
 
—

Proceeds from the issuance of common stock
47

 
6

 
—

Repurchase of common stock
—

 
(311
)
 
—

Other financing
—

 
(2
)
 
—

Cash flows used in financing activities
(9
)
 
(331
)
 
—

Net increase/(decrease) in cash, cash equivalents, and restricted cash
(273
)
 
(469
)
 
804

Cash, cash equivalents, and restricted cash, beginning of period
457

 
926

 
122

Cash, cash equivalents, and restricted cash, end of period
$
184

 
$
457

 
$
926


CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY
CAESARS ENTERTAINMENT CORPORATION
NOTES TO CONDENSED FINANCIAL INFORMATION

1.
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 both December 31, 2019 and 2018 was approximately $2.1 billion and $3.2 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 11 and Note 12 of the Company’s consolidated financial statements.