Consolidating Financial Information of Guarantors and Issuers (Tables)

6 Months Ended

Jun. 30, 2012

Consolidating Financial Information of Guarantors and Issuers [Abstract]

Condensed Consolidating Balance Sheet

	CEC (Parent)		Subsidiary Issuer			Guarantors		Non- Guarantors		Consolidating/ Eliminating Adjustments			Total
Assets
Cash and cash equivalents	$	8.0	$	106.8		$	302.2	$	568.1	$	—		$	985.1
Assets held for sale		—		—			11.1		—		—			11.1
Other current assets		21.7		336.5			725.3		467.2		(577.9	)		972.8
Property and equipment, net		—		195.5			9,156.4		7,324.2		—			16,676.1
Goodwill		—		—			1,526.2		1,834.2		—			3,360.4
Intangible assets other than goodwill		—		4.6			3,441.7		797.7		—			4,244.0
Investments in subsidiaries		—		12,992.5			777.7		886.2		(14,656.4	)		—
Restricted cash		—		—			—		346.2		—			346.2
Intercompany receivables		529.3		1,079.9			585.9		98.6		(2,293.7	)		—
Assets held for sale		—		—			592.3		—		—			592.3
Other long-term assets		0.8		309.1			187.2		348.1		5.0			850.2
	$	559.8	$	15,024.9		$	17,306.0	$	12,670.5	$	(17,523.0	)	$	28,038.2
Liabilities and Stockholders’ Equity/(Deficit)
Interest payable	$	—	$	154.7		$	0.6	$	28.3	$	—		$	183.6
Current portion of long-term debt		—		11.8			19.4		11.6		—			42.8
Liabilities held for sale		—		—			9.6		—		—			9.6
Other current liabilities		29.6		352.0			774.3		859.8		(577.9	)		1,437.8
Long-term debt		—		14,664.6			52.8		6,069.6		(886.2	)		19,900.8
Deferred credits and other		—		616.2			140.7		132.9		—			889.8
Deferred income taxes		—		462.0			2,542.9		1,961.7		—			4,966.6
Intercompany payables		—		573.6			871.7		848.4		(2,293.7	)		—
		29.6		16,834.9			4,412.0		9,912.3		(3,757.8	)		27,431.0
Total Caesars stockholders’ equity/(deficit)		530.2		(1,810.0	)		12,894.0		2,681.2		(13,765.2	)		530.2
Non-controlling interests		—		—			—		77.0		—			77.0
Total equity/(deficit)		530.2		(1,810.0	)		12,894.0		2,758.2		(13,765.2	)		607.2
	$	559.8	$	15,024.9		$	17,306.0	$	12,670.5	$	(17,523.0	)	$	28,038.2

	CEC (Parent)		Subsidiary Issuer			Guarantors		Non- Guarantors		Consolidating/ Eliminating Adjustments			Total
Assets
Cash and cash equivalents	$	3.9	$	16.6		$	372.5	$	501.6	$	—		$	894.6
Assets held for sale		—		—			11.6		—		—			11.6
Other current assets		15.7		322.4			672.1		418.5		(497.7	)		931.0
Property and equipment, net		—		205.6			9,499.8		7,364.5		—			17,069.9
Goodwill		—		—			1,526.2		1,834.2		—			3,360.4
Intangible assets other than goodwill		—		4.9			3,524.2		834.1		—			4,363.2
Investments in subsidiaries		535.8		13,568.0			886.8		882.9		(15,873.5	)		—
Restricted cash		—		—			—		451.1		—			451.1
Intercompany receivables		469.0		1,102.8			586.0		98.7		(2,256.5	)		—
Assets held for sale		—		—			593.4		—		—			593.4
Other long-term assets		5.0		324.9			187.1		323.4		—			840.4
	$	1,029.4	$	15,545.2		$	17,859.7	$	12,709.0	$	(18,627.7	)	$	28,515.6
Liabilities and Stockholders’ Equity/(Deficit)
Interest payable	$	—	$	174.0		$	0.8	$	16.6	$	—		$	191.4
Current portion of long-term debt		—		20.2			7.0		13.2		—			40.4
Liabilities held for sale		—		—			10.1		—		—			10.1
Other current liabilities		22.7		303.5			830.4		702.0		(497.7	)		1,360.9
Long-term debt		—		14,446.3			69.8		6,100.7		(857.3	)		19,759.5
Deferred credits and other		—		612.5			166.0		123.3		—			901.8
Deferred income taxes		—		647.7			2,558.8		1,991.6		—			5,198.1
Intercompany payables		—		420.2			871.7		964.6		(2,256.5	)		—
		22.7		16,624.4			4,514.6		9,912.0		(3,611.5	)		27,462.2
Total Caesars stockholders’ equity/(deficit)		1,006.7		(1,079.2	)		13,345.1		2,750.3		(15,016.2	)		1,006.7
Non-controlling interests		—		—			—		46.7		—			46.7
Total equity/(deficit)		1,006.7		(1,079.2	)		13,345.1		2,797.0		(15,016.2	)		1,053.4
	$	1,029.4	$	15,545.2		$	17,859.7	$	12,709.0	$	(18,627.7	)	$	28,515.6

Condensed Consolidating Statement of Comprehensive Income/(Loss)

	CEC (Parent)			Subsidiary Issuer			Guarantors			Non- Guarantors			Consolidating/ Eliminating Adjustments			Total
Net revenues	$	—		$	27.0		$	1,254.7		$	928.9		$	(44.9	)	$	2,165.7
Direct operating expenses		—			11.7			679.7			458.4			—			1,149.8
Property, general, administrative, and other		—			3.3			281.1			278.1			(40.1	)		522.4
Depreciation and amortization		—			1.7			110.0			69.2			—			180.9
Intangible and tangible asset impairment charges		—			—			33.0			101.0			—			134.0
Loss/(income) on interests in subsidiaries		240.0			(9.5	)		(7.6	)		—			(222.9	)		—
Corporate expense		6.5			25.8			7.2			6.6			(4.8	)		41.3
Other operating expenses		—			2.5			33.4			19.6			—			55.5
Total operating expenses		246.5			35.5			1,136.8			932.9			(267.8	)		2,083.9
(Loss)/income from operations		(246.5	)		(8.5	)		117.9			(4.0	)		222.9			81.8
Interest expense, net of interest capitalized		—			(461.8	)		(6.8	)		(76.7	)		48.8			(496.5	)
Gains on early extinguishments of debt		—			—			—			33.7			—			33.7
Other income, including interest income		3.9			14.3			5.2			31.9			(48.8	)		6.5
(Loss)/income from continuing operations before income taxes		(242.6	)		(456.0	)		116.3			(15.1	)		222.9			(374.5	)
Benefit/(provision) for income taxes		0.9			168.9			(38.3	)		(17.7	)		4.8			118.6
Net (loss)/income from continuing operations, net of taxes		(241.7	)		(287.1	)		78.0			(32.8	)		227.7			(255.9	)
Discontinued operations
Income from discontinued operations		—			—			22.9			—			—			22.9
Provision for income taxes		—			—			(4.0	)		—			(4.8	)		(8.8	)
Income from discontinued operations, net of income taxes		—			—			18.9			—			(4.8	)		14.1
Net loss		(241.7	)		(287.1	)		96.9			(32.8	)		222.9			(241.8	)
Less: net loss attributable to non-controlling interests		—			—			—			0.1			—			0.1
Net (loss)/income attributable to Caesars		(241.7	)		(287.1	)		96.9			(32.7	)		222.9			(241.7	)
Other comprehensive income/(loss):
Total other comprehensive (loss)/income, net of income taxes		—			(13.6	)		—			16.5			—			2.9
Less: foreign currency translation adjustments attributable to non-controlling interests		—			—			—			(0.5	)		—			(0.5	)
Comprehensive (loss)/income attributable to Caesars	$	(241.7	)	$	(300.7	)	$	96.9		$	(16.7	)	$	222.9		$	(239.3	)

	CEC (Parent)			Subsidiary Issuer			Guarantors			Non- Guarantors			Consolidating/ Eliminating Adjustments			Total
Net revenues	$	—		$	34.6		$	1,292.3		$	889.5		$	(54.7	)	$	2,161.7
Direct operating expenses		—			12.9			679.9			445.8			—			1,138.6
Property, general, administrative, and other		—			13.2			295.4			231.9			(34.2	)		506.3
Depreciation and amortization		—			1.7			105.6			62.2			—			169.5
Loss/(income) on interests in subsidiaries		153.8			(122.6	)		(15.6	)		—			(15.6	)		—
Corporate expense		5.5			31.7			4.6			22.9			(20.5	)		44.2
Other operating expenses		—			16.4			32.7			22.4			—			71.5
Total operating expenses		159.3			(46.7	)		1,102.6			785.2			(70.3	)		1,930.1
(Loss)/income from operations		(159.3	)		81.3			189.7			104.3			15.6			231.6
Interest expense, net of interest capitalized		—			(476.5	)		(8.5	)		(85.7	)		46.1			(524.6	)
Gains on early extinguishments of debt		—			—			—			14.7			—			14.7
Other income, including interest income		2.9			12.0			4.7			31.5			(46.1	)		5.0
(Loss)/income from continuing operations before income taxes		(156.4	)		(383.2	)		185.9			64.8			15.6			(273.3	)
Benefit/(provision) for income taxes		0.9			184.3			(68.3	)		(13.6	)		4.4			107.7
Net (loss)/income from continuing operations, net of taxes		(155.5	)		(198.9	)		117.6			51.2			20.0			(165.6	)
Discontinued operations
Income from discontinued operations		—			—			20.5			—			—			20.5
Provision for income taxes		—			—			(3.6	)		—			(4.4	)		(8.0	)
Income from discontinued operations, net of income taxes		—			—			16.9			—			(4.4	)		12.5
Net loss		(155.5	)		(198.9	)		134.5			51.2			15.6			(153.1	)
Less: net income attributable to non-controlling interests		—			—			—			(2.4	)		—			(2.4	)
Net (loss)/income attributable to Caesars		(155.5	)		(198.9	)		134.5			48.8			15.6			(155.5	)
Other comprehensive income/(loss):
Total other comprehensive (loss)/income, net of income taxes		—			(23.4	)		—			10.8			—			(12.6	)
Less: foreign currency translation adjustments attributable to non-controlling interests		—			—			—			(0.2	)		—			(0.2	)
Comprehensive (loss)/income attributable to Caesars	$	(155.5	)	$	(222.3	)	$	134.5		$	59.4		$	15.6		$	(168.3	)

	CEC (Parent)			Subsidiary Issuer			Guarantors			Non- Guarantors			Consolidating/ Eliminating Adjustments			Total
Net revenues	$	—		$	53.6		$	2,557.8		$	1,861.1		$	(98.4	)	$	4,374.1
Direct operating expenses		—			21.6			1,372.3			919.1			—			2,313.0
Property, general, administrative, and other		—			13.0			573.9			529.1			(81.3	)		1,034.7
Depreciation and amortization		—			3.4			218.4			142.8			—			364.6
Intangible and tangible asset impairment charges		—			—			200.5			101.0			—			301.5
Loss/(income) on interests in subsidiaries		520.3			(5.0	)		4.9			—			(520.2	)		—
Corporate expense		12.1			63.5			13.9			21.1			(17.1	)		93.5
Other operating expenses		—			5.6			66.1			56.8			—			128.5
Total operating expenses		532.4			102.1			2,450.0			1,769.9			(618.6	)		4,235.8
(Loss)/income from operations		(532.4	)		(48.5	)		107.8			91.2			520.2			138.3
Interest expense, net of interest capitalized		—			(970.9	)		(14.5	)		(171.9	)		98.8			(1,058.5	)
Gains on early extinguishments of debt		—			—			—			79.5			—			79.5
Other income, including interest income		9.0			29.2			10.8			64.5			(98.8	)		14.7
(Loss)/income from continuing operations before income taxes		(523.4	)		(990.2	)		104.1			63.3			520.2			(826.0	)
Benefit/(provision) for income taxes		1.1			354.1			(39.4	)		(47.2	)		8.8			277.4
Net (loss)/income from continuing operations, net of taxes		(522.3	)		(636.1	)		64.7			16.1			529.0			(548.6	)
Discontinued operations
Income from discontinued operations		—			—			41.9			—			—			41.9
Provision for income taxes		—			—			(7.4	)		—			(8.8	)		(16.2	)
Income from discontinued operations, net of income taxes		—			—			34.5			—			(8.8	)		25.7
Net loss		(522.3	)		(636.1	)		99.2			16.1			520.2			(522.9	)
Less: net loss attributable to non-controlling interests		—			—			—			0.6			—			0.6
Net (loss)/income attributable to Caesars		(522.3	)		(636.1	)		99.2			16.7			520.2			(522.3	)
Other comprehensive income/(loss):
Total other comprehensive (loss)/income, net of income taxes		—			(25.8	)		—			38.0			—			12.2
Less: foreign currency translation adjustments attributable to non-controlling interests		—			—			—			(1.5	)		—			(1.5	)
Comprehensive (loss)/income attributable to Caesars	$	(522.3	)	$	(661.9	)	$	99.2		$	53.2		$	520.2		$	(511.6	)

	CEC (Parent)			Subsidiary Issuer			Guarantors			Non-Guarantors			Consolidating/ Eliminating Adjustments			Total
Net revenues	$	—		$	63.4		$	2,568.1		$	1,755.9		$	(109.6	)	$	4,277.8
Direct operating expenses		—			25.0			1,358.3			888.9			—			2,272.2
Property, general, administrative, and other		—			27.5			611.9			457.3			(69.2	)		1,027.5
Depreciation and amortization		—			3.4			214.0			124.3			—			341.7
Loss/(income) on interests in subsidiaries		300.5			(228.7	)		(26.1	)		—			(45.7	)		—
Corporate expense		10.2			55.2			8.3			45.3			(40.4	)		78.6
Other operating expenses		0.3			28.8			60.8			41.7			—			131.6
Total operating expenses		311.0			(88.8	)		2,227.2			1,557.5			(155.3	)		3,851.6
(Loss)/income from operations		(311.0	)		152.2			340.9			198.4			45.7			426.2
Interest expense, net of interest capitalized		—			(915.5	)		(18.1	)		(166.9	)		102.5			(998.0	)
Gains on early extinguishments of debt		—			—			—			47.9			—			47.9
Other income, including interest income		6.8			23.7			9.5			71.0			(102.5	)		8.5
(Loss)/income from continuing operations before income taxes		(304.2	)		(739.6	)		332.3			150.4			45.7			(515.4	)
Benefit/(provision) for income taxes		1.3			347.9			(125.0	)		(39.1	)		8.4			193.5
Net (loss)/income from continuing operations, net of taxes		(302.9	)		(391.7	)		207.3			111.3			54.1			(321.9	)
Discontinued operations
Income from discontinued operations		—			—			39.5			—			—			39.5
Provision for income taxes		—			—			(7.1	)		—			(8.4	)		(15.5	)
Income from discontinued operations, net of income taxes		—			—			32.4			—			(8.4	)		24.0
Net loss		(302.9	)		(391.7	)		239.7			111.3			45.7			(297.9	)
Less: net income attributable to non-controlling interests		—			—			—			(5.0	)		—			(5.0	)
Net (loss)/income attributable to Caesars		(302.9	)		(391.7	)		239.7			106.3			45.7			(302.9	)
Other comprehensive income/(loss):
Total other comprehensive (loss)/income, net of income taxes		—			24.0			—			(20.4	)		—			3.6
Less: foreign currency translation adjustments attributable to non-controlling interests		—			—			—			(3.4	)		—			(3.4	)
Comprehensive (loss)/income attributable to Caesars	$	(302.9	)	$	(367.7	)	$	239.7		$	82.5		$	45.7		$	(302.7	)

Condensed Consolidating Statement of Cash Flows

	CEC (Parent)			Subsidiary Issuer			Guarantors			Non- Guarantors			Consolidating/ Eliminating Adjustments			Total
Cash flows provided by/(used in) operating activities	$	175.5		$	(137.9	)	$	(99.7	)	$	133.8		$	—		$	71.7
Cash flows from investing activities
Acquisitions of property and equipment, net of change in construction payables		—			(3.0	)		(66.0	)		(123.2	)		—			(192.2	)
Change in restricted cash		—			—			—			100.7			—			100.7
Purchase of additional interests in subsidiaries		(127.7	)		(13.9	)		—			—			141.6			—
Return of investment in subsidiary		—			—			92.5			—			(92.5	)		—
Other		(0.8	)		—			(5.6	)		(2.5	)		—			(8.9	)
Cash flows (used in)/provided by investing activities		(128.5	)		(16.9	)		20.9			(25.0	)		49.1			(100.4	)
Cash flows from financing activities
Proceeds from the issuance of long-term debt		—			1,351.6			—			358.5			—			1,710.1
Debt issuance costs and fees		—			(24.7	)		—			(7.2	)		—			(31.9	)
Borrowings under lending agreements		—			453.0			—			—			—			453.0
Repayments under lending agreements		—			(608.0	)		—			—			—			(608.0	)
Cash paid for early extinguishments of debt		—			(1,095.6	)		—			(355.0	)		—			(1,450.6	)
Proceeds from sale of non-controlling interest in a subsidiary		—			—			—			32.2			—			32.2
Net intercompany financing activities		(60.3	)		176.3			0.1			(67.0	)		(49.1	)		—
Other		17.4			(7.6	)		(18.3	)		(3.8	)		—			(12.3	)
Cash flows (used in)/provided by financing activities		(42.9	)		245.0			(18.2	)		(42.3	)		(49.1	)		92.5
Cash flows from discontinued operations
Cash flows from operating activities		—			—			29.0			—			—			29.0
Cash flows from investing activities		—			—			(2.3	)		—			—			(2.3	)
Net cash provided by discontinued operations		—			—			26.7			—			—			26.7
Net increase/(decrease) in cash and cash equivalents		4.1			90.2			(70.3	)		66.5			—			90.5
Cash and cash equivalents, beginning of period		3.9			16.6			372.5			501.6			—			894.6
Cash and cash equivalents, end of period	$	8.0		$	106.8		$	302.2		$	568.1		$	—		$	985.1

	CEC (Parent)			Subsidiary Issuer			Guarantors			Non- Guarantors			Consolidating/ Eliminating Adjustments			Total
Cash flows provided by/(used in) operating activities	$	107.2		$	(226.9	)	$	(24.0	)	$	225.8		$	—		$	82.1
Cash flows from investing activities
Acquisitions of property and equipment, net of change in construction payables		—			(7.1	)		(49.8	)		(32.8	)		—			(89.7	)
Change in restricted cash		—			—			—			(546.0	)		—			(546.0	)
Payments to acquire business, net of transactions costs and cash acquired		—			—			—			(31.1	)		—			(31.1	)
Purchase of additional interests in subsidiaries		(108.5	)		(89.6	)		(15.6	)		—			213.7			—
Other		—			—			(3.9	)		(77.6	)		—			(81.5	)
Cash flows (used in)/provided by investing activities		(108.5	)		(96.7	)		(69.3	)		(687.5	)		213.7			(748.3	)
Cash flows from financing activities
Proceeds from the issuance of long-term debt		—			418.3			—			445.5			—			863.8
Debt issuance costs and fees		—			(3.2	)		—			(14.3	)		—			(17.5	)
Borrowings under lending agreements		—			135.0			—			—			—			135.0
Repayments under lending agreements		—			(135.0	)		—			—			—			(135.0	)
Cash paid for early extinguishments of debt		—			—			(0.7	)		(125.2	)		—			(125.9	)
Net intercompany financing activities		(82.0	)		31.2			15.6			248.9			(213.7	)		—
Other		(0.9	)		(13.4	)		(3.3	)		(14.1	)		—			(31.7	)
Cash flows (used in)/provided by financing activities		(82.9	)		432.9			11.6			540.8			(213.7	)		688.7
Cash flows from discontinued operations
Cash flows from operating activities		—			—			33.0			—			—			33.0
Cash flows from investing activities		—			—			(2.0	)		—			—			(2.0	)
Net cash provided by discontinued operations		—			—			31.0			—			—			31.0
Net (decrease)/increase in cash and cash equivalents		(84.2	)		109.3			(50.7	)		79.1			—			53.5
Cash and cash equivalents, beginning of period		136.0			61.0			344.7			431.8			—			973.5
Cash and cash equivalents, end of period	$	51.8		$	170.3		$	294.0		$	510.9		$	—		$	1,027.0