Equity and Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2011

Equity and Earnings (Loss) Per Share [Abstract]

NOTE 4 — EQUITY AND EARNINGS (LOSS) PER SHARE

Preferred Stock and Warrants

Preferred stock dividend activity is as follows (in thousands):


		Preferred Stock
		Dividends Paid to		Preferred Stock
Board of Directors’		Principal		Dividends Paid to		Total Preferred Stock
Declaration Date	Payment Date	Stockholder’s Family		Public Holders		Dividends Paid
February 5, 2010	February 16, 2010	$	13,125	$	10,225	$	23,350
May 4, 2010	May 17, 2010	$	13,125	$	10,225	$	23,350

						$	46,700

February 1, 2011	February 15, 2011	$	13,125	$	6,473	$	19,598
May 5, 2011	May 16, 2011	$	13,125	$	6,094	$	19,219

						$	38,817

August 4, 2011	August 15, 2011	$	13,125	$	6,015	$	19,140

During the six months ended June 30, 2011, holders of preferred stock exercised 1,229,100 warrants to purchase an aggregate of 20,485,036 shares of the Company’s common stock at $6.00 per share and tendered 1,161,500 shares of preferred stock and $6.8 million in cash as settlement of the warrant exercise price. In conjunction with certain of these transactions, the Company paid $16.5 million in premiums to induce the exercise of warrants with settlement through tendering preferred stock. During the six months ended June 30, 2011, the Company also repurchased and retired 47,300 shares of preferred stock for $5.3 million and recorded a $2.6 million repurchase premium as part of the transaction. During the six months ended June 30, 2010, no warrants were exercised and no preferred shares were repurchased and retired.

Accumulated Comprehensive Income and Comprehensive Income

As of June 30, 2011 and December 31, 2010, accumulated comprehensive income consisted solely of foreign currency translation adjustments.

Total comprehensive income consisted of the following (in thousands):


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Net income	$	489,092		$	78,548		$	853,595		$	126,362
Currency translation adjustment		56,892			(2,172	)		88,848			(4,496	)

Total comprehensive income		545,984			76,376			942,443			121,866
Less: comprehensive income attributable to noncontrolling interests		(80,864	)		(34,040	)		(153,507	)		(62,826	)

Comprehensive income attributable to Las Vegas Sands Corp.	$	465,120		$	42,336		$	788,936		$	59,040

Noncontrolling Interests

In June 2011, the Company disposed of its interest in one of its majority owned subsidiaries, resulting in a loss of $3.7 million, which is included in loss on disposal of assets. In addition, during the six months ended June 30, 2011, the Company distributed $5.9 million to certain of its noncontrolling interests.

Earnings (Loss) Per Share

The weighted average number of common and common equivalent shares used in the calculation of basic and diluted earnings (loss) per share consisted of the following:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
Weighted-average common shares outstanding (used in the calculation of basic earnings (loss) per share)		728,695,140		660,364,559		726,056,840		660,322,428
Potential dilution from stock options, restricted stock and warrants		82,579,566		—		85,186,355		—

Weighted-average common and common equivalent shares (used in the calculation of diluted earnings (loss) per share)		811,274,706		660,364,559		811,243,195		660,322,428

Antidilutive stock options, restricted stock and warrants excluded from the calculation of diluted earnings (loss) per share		5,981,719		173,331,327		6,515,362		173,331,327

- Definition

Disclosures related to accounts comprising shareholders' equity, including other comprehensive income, and disclosures pertaining to earnings (loss) per share. Includes: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables; effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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