Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2012

Summary of Significant Accounting Policies

Schedule of promotional allowances

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(in thousands)
Rooms	$	6,265	$	5,528	$	12,559	$	10,739
Food and beverage	27,236		25,461		54,715		48,689
Other	2,363		2,433		4,959		4,688
Total promotional allowances	$	35,864	$	33,422	$	72,233	$	64,116

Schedule of estimated cost of providing complimentary services

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(in thousands)
Rooms	$	2,307	$	2,010	$	4,663	$	4,024
Food and beverage	18,175		18,645		36,655		36,264
Other	1,429		1,440		2,951		2,794
Total cost of complimentary services	$	21,911	$	22,095	$	44,269	$	43,082

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(in thousands)
Net income	$	66,667	$	75,989	$	145,286	$	127,517
Net income applicable to preferred stock	12,914		14,396		28,183		24,185
Net income applicable to common stock	$	53,753	$	61,593	$	117,103	$	103,332

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

	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011
	(in thousands)
Determination of shares:
Weighted-average common shares outstanding	76,257	78,387	76,126	78,275
Assumed conversion of dilutive employee stock-based awards	2,595	1,858	2,471	1,694
Assumed conversion of preferred stock	27,278	27,278	27,278	27,278
Diluted weighted-average common shares outstanding	106,130	107,523	105,875	107,247

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

	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
	(in thousands, except per share data)
Calculation of basic EPS:
Net income applicable to common stock	$	53,753	$	61,593	$	117,103	$	103,332
Weighted-average common shares outstanding	76,257		78,387		76,126		78,275
Basic EPS	$	0.70	$	0.79	$	1.54	$	1.32
Calculation of diluted EPS:
Net income	$	66,667	$	75,989	$	145,286	$	127,517
Diluted weighted-average common shares outstanding	106,130		107,523		105,875		107,247
Diluted EPS	$	0.63	$	0.71	$	1.37	$	1.19

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

	2012		2011
Risk-free interest rate	0.84	%	2.04	%
Expected volatility	45.78	%	47.24	%
Dividend yield	—		—
Weighted-average expected life (years)	6.64		5.77
Forfeiture rate	5.00	%	5.00	%