Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies

Schedule of promotional allowances

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
	(in thousands)
Rooms	$	6,535	$	7,231	$	19,094	$	17,970
Food and beverage	26,089		29,586		80,804		78,275
Other	2,250		2,824		7,209		7,512
Total promotional allowances	$	34,874	$	39,641	$	107,107	$	103,757

Schedule of estimated cost of providing complimentary services

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
	(in thousands)
Rooms	$	2,337	$	2,615	$	7,000	$	6,639
Food and beverage	18,095		20,383		54,750		56,647
Other	1,393		1,792		4,344		4,586
Total cost of complimentary services	$	21,825	$	24,790	$	66,094	$	67,872

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
	(in thousands)
Net income	$	46,446	$	70,803	$	191,732	$	198,320
Net income applicable to preferred stock	8,990		13,433		37,165		37,619
Net income applicable to common stock	$	37,456	$	57,370	$	154,567	$	160,701

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 September 30,		Nine Months Ended September 30,
	2012	2011	2012	2011
	(in thousands)
Determination of shares:
Weighted-average common shares outstanding	76,336	78,242	76,196	78,264
Assumed conversion of dilutive employee stock-based awards	2,227	1,929	2,400	1,787
Assumed conversion of preferred stock	27,278	27,278	27,278	27,278
Diluted weighted-average common shares outstanding	105,841	107,449	105,874	107,329

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

	Three Months Ended September 30,				Nine Months Ended September 30,`
	2012		2011		2012		2011
	(in thousands, except per share data)
Calculation of basic EPS:
Net income applicable to common stock	$	37,456	$	57,370	$	154,567	$	160,701
Weighted-average common shares outstanding	76,336		78,242		76,196		78,264
Basic EPS	$	0.49	$	0.73	$	2.03	$	2.05
Calculation of diluted EPS:
Net income	$	46,446	$	70,803	$	191,732	$	198,320
Diluted weighted-average common shares outstanding	105,841		107,449		105,874		107,329
Diluted EPS	$	0.44	$	0.66	$	1.81	$	1.85

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	%