Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Significant Accounting Policies

Schedule of the estimated useful lives of property and equipment

Land improvements	15 years
Building and improvements	5 to 31 years
Furniture, fixtures, and equipment	3 to 31 years

Schedule of net of tax changes in accumulated other comprehensive income by component

The Company presents comprehensive income in two separate but consecutive statements. The net of tax changes in accumulated other comprehensive income by component were as follows (in thousands):

	Foreign Currency			Available for sale securities			Total
Other comprehensive income (loss):
Balance at December 31, 2012	$	1,628		$	1,394		$	3,022
Foreign currency translation adjustment		(1,245	)		—			(1,245	)
Unrealized holding losses on corporate debt securities		—			(98	)		(98	)
Realized gain on redemption of corporate debt securities		—			(1,296	)		(1,296	)
Ending balance at December 31, 2013		383			—			383
Foreign currency translation adjustment		(1,665	)		—			(1,665	)
Ending balance at December 31, 2014	$	(1,282	)	$	—		$	(1,282	)

Schedule of promotional allowances

Year ended December 31,	2014		2013		2012
	(in thousands)
Rooms	$	33,513	$	36,132	$	26,612
Food and beverage		106,936		123,263		108,250
Other		9,870		11,244		9,878
Total promotional allowances	$	150,319	$	170,639	$	144,740

Schedule of estimated cost of providing complimentary services

Year ended December 31,	2014		2013		2012
	(in thousands)
Rooms	$	10,559	$	12,565	$	9,814
Food and beverage		45,629		50,842		44,383
Other		5,142		5,369		7,013
Total cost of complimentary services	$	61,330	$	68,776	$	61,210

Allocation of net income attributable to shareholders under the two-class method

Year ended December 31,	2012
	(in thousands)
Net income	$	211,971
Net income applicable to preferred stock		41,023
Net income applicable to common stock	$	170,948

Reconciliation of the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS

Year ended December 31,	2012
	(in thousands)
Determination of shares:
Weighted-average common shares outstanding		76,345
Assumed conversion of dilutive employee stock-based awards		2,305
Assumed conversion of restricted stock		159
Assumed conversion of preferred stock		24,995
Diluted weighted-average common shares outstanding		103,804

Calculation of basic and diluted EPS for the entity's common stock

The following tables present the calculation of basic and diluted EPS for the Company's common stock for the years ended December 31, 2014, 2013 and 2012 (in thousands, except per share data):

Year ended December 31,	2014			2013
Calculation of basic and diluted EPS:
Net loss	$	(233,195	)	$	(794,339	)
Weighted-average common shares outstanding		78,425			78,111
Basic and Diluted EPS	$	(2.97	)	$	(10.17	)

Year ended December 31,	2012
Calculation of basic EPS:
Net income applicable to common stock	$	170,948
Weighted-average common shares outstanding		76,345
Basic EPS	$	2.24
Calculation of diluted EPS using if-converted method:
Net income	$	211,971
Diluted weighted-average common shares outstanding		103,804
Diluted EPS	$	2.04

Weighted-average assumptions used in Black-Scholes option pricing model

Year ended December 31,	2014			2013			2012
Risk-free interest rate		1.68	%		1.08	%		0.84	%
Expected volatility		44.80	%		46.27	%		45.78	%
Dividend yield		—			—			—
Weighted-average expected life (years)		5.45			6.57			6.64