Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2011

Condensed Consolidating Financial Information (Tables) [Abstract]

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets
June 30, 2011

							Consolidating/
	Las Vegas		Guarantor		Non-Guarantor		Eliminating
	Sands Corp.		Subsidiaries		Subsidiaries		Entries			Total
Cash and cash equivalents	$	898,445	$	527,972	$	2,052,689	$	—		$	3,479,106
Restricted cash and cash equivalents		—		417		170,811		—			171,228
Intercompany receivables		89,797		66,887		24,320		(181,004	)		—
Accounts receivable, net		1,356		183,668		784,415		(451	)		968,988
Inventories		2,448		12,296		20,890		—			35,634
Deferred income taxes, net		—		23,777		306		(9,370	)		14,713
Prepaid expenses and other		9,512		6,824		35,300		—			51,636
Total current assets		1,001,558		821,841		3,088,731		(190,825	)		4,721,305
Property and equipment, net		132,171		3,468,373		11,292,246		—			14,892,790
Investment in subsidiaries		7,150,809		5,690,170		—		(12,840,979	)		—
Deferred financing costs, net		688		25,189		108,005		—			133,882
Restricted cash and cash equivalents		—		4,307		268,256		—			272,563
Intercompany receivables		30,815		112,041		—		(142,856	)		—
Intercompany notes receivable		—		724,122		—		(724,122	)		—
Deferred income taxes, net		44,608		—		—		(35,349	)		9,259
Leasehold interests in land, net		—		—		1,441,023		—			1,441,023
Intangible assets, net		690		—		85,154		—			85,844
Other assets, net		113		24,992		155,386		—			180,491
Total assets	$	8,361,452	$	10,871,035	$	16,438,801	$	(13,934,131	)	$	21,737,157
Accounts payable	$	10,487	$	23,859	$	59,058	$	(451	)	$	92,953
Construction payables		33		1,888		381,568		—			383,489
Intercompany payables		24,320		89,797		66,887		(181,004	)		—
Accrued interest payable		4,623		1,043		8,316		—			13,982
Other accrued liabilities		12,843		176,716		946,745		—			1,136,304
Income taxes payable		4,970		3		34,157		—			39,130
Deferred income taxes		9,370		—		—		(9,370	)		—
Current maturities of long-term debt		3,688		30,583		1,039,213		—			1,073,484
Total current liabilities		70,334		323,889		2,535,944		(190,825	)		2,739,342
Other long-term liabilities		26,761		10,552		42,625		—			79,938
Intercompany payables		54,739		—		88,117		(142,856	)		—
Intercompany notes payable		—		—		724,122		(724,122	)		—
Deferred income taxes		—		35,489		133,719		(35,349	)		133,859
Deferred amounts related to mall transactions		—		431,972		—		—			431,972
Long-term debt		261,969		2,854,624		5,868,803		—			8,985,396
Total liabilities		413,803		3,656,526		9,393,330		(1,093,152	)		12,370,507
Preferred stock issued to Principal Stockholder’s family		549,651		—		—		—			549,651
Total Las Vegas Sands Corp. stockholders’ equity		7,397,998		7,214,104		5,626,875		(12,840,979	)		7,397,998
Noncontrolling interests		—		405		1,418,596		—			1,419,001
Total equity		7,397,998		7,214,509		7,045,471		(12,840,979	)		8,816,999
Total liabilities and equity	$	8,361,452	$	10,871,035	$	16,438,801	$	(13,934,131	)	$	21,737,157

Condensed Consolidating Balance Sheets
December 31, 2010

							Consolidating/
	Las Vegas		Guarantor		Non-Guarantor		Eliminating
	Sands Corp.		Subsidiaries		Subsidiaries		Entries			Total
Cash and cash equivalents	$	1,031,844	$	412,226	$	1,593,011	$	—		$	3,037,081
Restricted cash and cash equivalents		—		2,179		162,136		—			164,315
Intercompany receivables		11,843		65,834		22,927		(100,604	)		—
Accounts receivable, net		298		156,012		561,217		(608	)		716,919
Inventories		2,174		11,755		18,331		—			32,260
Deferred income taxes, net		—		24,496		47,389		(10,279	)		61,606
Prepaid expenses and other		15,272		4,782		30,432		(3,760	)		46,726
Total current assets		1,061,431		677,284		2,435,443		(115,251	)		4,058,907
Property and equipment, net		133,901		3,570,465		10,797,831		—			14,502,197
Investment in subsidiaries		6,273,755		4,996,023		—		(11,269,778	)		—
Deferred financing costs, net		767		29,198		125,413		—			155,378
Restricted cash and cash equivalents		—		4,616		640,989		—			645,605
Intercompany receivables		31,996		97,813		—		(129,809	)		—
Intercompany notes receivable		—		638,986		—		(638,986	)		—
Deferred income taxes, net		62,638		—		—		(52,215	)		10,423
Leasehold interests in land, net		—		—		1,398,840		—			1,398,840
Intangible assets, net		590		—		89,215		—			89,805
Other assets, net		78		27,104		155,971		—			183,153
Total assets	$	7,565,156	$	10,041,489	$	15,643,702	$	(12,206,039	)	$	21,044,308
Accounts payable	$	5,750	$	26,975	$	81,388	$	(608	)	$	113,505
Construction payables		—		2,179		514,802		—			516,981
Intercompany payables		22,926		11,843		65,835		(100,604	)		—
Accrued interest payable		4,629		7,689		30,307		—			42,625
Other accrued liabilities		15,692		175,011		969,531		—			1,160,234
Income taxes payable		—		—		3,760		(3,760	)		—
Deferred income taxes		10,279		—		—		(10,279	)		—
Current maturities of long-term debt		3,687		30,606		732,775		—			767,068
Total current liabilities		62,963		254,303		2,398,398		(115,251	)		2,600,413
Other long-term liabilities		26,761		10,911		40,568		—			78,240
Intercompany payables		45,336		—		84,473		(129,809	)		—
Intercompany notes payable		—		—		638,986		(638,986	)		—
Deferred income taxes		—		53,034		114,400		(52,215	)		115,219
Deferred amounts related to mall transactions		—		442,114		—		—			442,114
Long-term debt		263,726		2,869,931		6,240,098		—			9,373,755
Total liabilities		398,786		3,630,293		9,516,923		(936,261	)		12,609,741
Preferred stock issued to Principal Stockholder’s family		503,379		—		—		—			503,379
Total Las Vegas Sands Corp. stockholders’ equity		6,662,991		6,410,791		4,858,987		(11,269,778	)		6,662,991
Noncontrolling interests		—		405		1,267,792		—			1,268,197
Total equity		6,662,991		6,411,196		6,126,779		(11,269,778	)		7,931,188
Total liabilities and equity	$	7,565,156	$	10,041,489	$	15,643,702	$	(12,206,039	)	$	21,044,308

Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations
For the Three Months Ended June 30, 2011

										Consolidating/
	Las Vegas			Guarantor			Non-Guarantor			Eliminating
	Sands Corp.			Subsidiaries			Subsidiaries			Entries			Total
Revenues:
Casino	$	—		$	105,123		$	1,757,149		$	—		$	1,862,272
Rooms		—			112,931			126,765			—			239,696
Food and beverage		—			47,573			98,443			—			146,016
Convention, retail and other		—			69,156			166,066			(34,580	)		200,642
		—			334,783			2,148,423			(34,580	)		2,448,626
Less-promotional allowances		(172	)		(16,217	)		(86,772	)		(369	)		(103,530	)
Net revenues		(172	)		318,566			2,061,651			(34,949	)		2,345,096
Operating expenses:
Casino		—			59,818			915,146			(551	)		974,413
Rooms		—			33,981			16,752			—			50,733
Food and beverage		—			23,354			51,289			(1,508	)		73,135
Convention, retail and other		—			21,561			89,230			(5,767	)		105,024
Provision for doubtful accounts		—			495			23,001			—			23,496
General and administrative		—			63,702			159,994			(135	)		223,561
Corporate expense		37,069			83			32,212			(26,988	)		42,376
Rental expense		—			—			10,034			—			10,034
Pre-opening expense		—			15			18,163			—			18,178
Development expense		2,420			—			—			—			2,420
Depreciation and amortization		4,478			63,800			137,883			—			206,161
(Gain) loss on disposal of assets		7,663			2,082			(2,302	)		—			7,443
		51,630			268,891			1,451,402			(34,949	)		1,736,974
Operating income (loss)		(51,802	)		49,675			610,249			—			608,122
Other income (expense):
Interest income		2,531			27,179			1,301			(26,983	)		4,028
Interest expense, net of amounts capitalized		(3,450	)		(22,862	)		(71,263	)		26,983			(70,592	)
Other income		—			989			919			—			1,908
Income from equity investments in subsidiaries		442,863			368,364			—			(811,227	)		—
Income before income taxes		390,142			423,345			541,206			(811,227	)		543,466
Income tax benefit (expense)		20,495			(17,969	)		(56,900	)		—			(54,374	)
Net income		410,637			405,376			484,306			(811,227	)		489,092
Net income attributable to noncontrolling interests		—			(1,292	)		(77,163	)		—			(78,455	)
Net income attributable to Las Vegas Sands Corp.	$	410,637		$	404,084		$	407,143		$	(811,227	)	$	410,637

Condensed Consolidating Statements of Operations
For the Three Months Ended June 30, 2010

										Consolidating/
	Las Vegas			Guarantor			Non-Guarantor			Eliminating
	Sands Corp.			Subsidiaries			Subsidiaries			Entries			Total
Revenues:
Casino	$	—		$	102,902		$	1,191,399		$	—		$	1,294,301
Rooms		—			120,169			70,598			—			190,767
Food and beverage		—			41,273			63,806			—			105,079
Convention, retail and other		—			44,070			81,911			(10,715	)		115,266
		—			308,414			1,407,714			(10,715	)		1,705,413
Less-promotional allowances		(115	)		(40,794	)		(69,389	)		(639	)		(110,937	)
Net revenues		(115	)		267,620			1,338,325			(11,354	)		1,594,476
Operating expenses:
Casino		—			68,180			723,336			(569	)		790,947
Rooms		—			25,040			9,034			(1	)		34,073
Food and beverage		—			18,005			31,387			(1,594	)		47,798
Convention, retail and other		—			18,137			51,077			(3,888	)		65,326
Provision for doubtful accounts		—			9,355			9,356			—			18,711
General and administrative		—			63,460			109,733			(274	)		172,919
Corporate expense		22,036			51			8,867			(5,000	)		25,954
Rental expense		—			—			12,806			—			12,806
Pre-opening expense		179			1			49,966			(28	)		50,118
Development expense		676			—			—			—			676
Depreciation and amortization		3,017			57,671			110,006			—			170,694
Loss on disposal of assets		—			8,704			28,975			—			37,679
		25,908			268,604			1,144,543			(11,354	)		1,427,701
Operating income (loss)		(26,023	)		(984	)		193,782			—			166,775
Other income (expense):
Interest income		815			21,755			846			(21,343	)		2,073
Interest expense, net of amounts capitalized		(3,886	)		(27,144	)		(67,300	)		21,343			(76,987	)
Other expense		—			(255	)		(5,946	)		—			(6,201	)
Gain on early retirement of debt		961			—			—			—			961
Income from equity investments in subsidiaries		85,577			83,098			—			(168,675	)		—
Income before income taxes		57,444			76,470			121,382			(168,675	)		86,621
Income tax benefit (expense)		(15,637	)		7,710			(146	)		—			(8,073	)
Net income		41,807			84,180			121,236			(168,675	)		78,548
Net income attributable to noncontrolling interests		—			—			(36,741	)		—			(36,741	)
Net income attributable to Las Vegas Sands Corp.	$	41,807		$	84,180		$	84,495		$	(168,675	)	$	41,807

Condensed Consolidating Statements of Operations
For the Six Months Ended June 30, 2011

										Consolidating/
	Las Vegas			Guarantor			Non-Guarantor			Eliminating
	Sands Corp.			Subsidiaries			Subsidiaries			Entries			Total
Revenues:
Casino	$	—		$	188,246		$	3,338,515		$	—		$	3,526,761
Rooms		—			225,805			245,865			—			471,670
Food and beverage		—			97,880			193,529			—			291,409
Convention, retail and other		—			133,699			296,125			(64,527	)		365,297
		—			645,630			4,074,034			(64,527	)		4,655,137
Less-promotional allowances		(335	)		(33,843	)		(163,168	)		(776	)		(198,122	)
Net revenues		(335	)		611,787			3,910,866			(65,303	)		4,457,015
Operating expenses:
Casino		—			124,186			1,772,891			(1,128	)		1,895,949
Rooms		—			66,229			32,957			—			99,186
Food and beverage		—			46,950			100,852			(2,964	)		144,838
Convention, retail and other		—			42,714			159,812			(10,257	)		192,269
Provision for doubtful accounts		—			6,591			51,963			—			58,554
General and administrative		—			124,434			309,967			(355	)		434,046
Corporate expense		70,049			138			60,364			(50,599	)		79,952
Rental expense		—			—			23,190			—			23,190
Pre-opening expense		—			15			27,634			—			27,649
Development expense		2,993			—			—			—			2,993
Depreciation and amortization		8,661			116,613			271,124			—			396,398
(Gain) loss on disposal of assets		7,663			2,027			(1,748	)		—			7,942
		89,366			529,897			2,809,006			(65,303	)		3,362,966
Operating income (loss)		(89,701	)		81,890			1,101,860			—			1,094,049
Other income (expense):
Interest income		3,088			52,454			2,593			(52,060	)		6,075
Interest expense, net of amounts capitalized		(6,900	)		(45,934	)		(143,403	)		52,060			(144,177	)
Other income (expense)		—			272			(3,039	)		—			(2,767	)
Income from equity investments in subsidiaries		771,802			646,086			—			(1,417,888	)		—
Income before income taxes		678,289			734,768			958,011			(1,417,888	)		953,180
Income tax benefit (expense)		21,671			(27,021	)		(94,235	)		—			(99,585	)
Net income		699,960			707,747			863,776			(1,417,888	)		853,595
Net income attributable to noncontrolling interests		—			(1,292	)		(152,343	)		—			(153,635	)
Net income attributable to Las Vegas Sands Corp.	$	699,960		$	706,455		$	711,433		$	(1,417,888	)	$	699,960

Condensed Consolidating Statements of Operations
For the Six Months Ended June 30, 2010

										Consolidating/
	Las Vegas			Guarantor			Non-Guarantor			Eliminating
	Sands Corp.			Subsidiaries			Subsidiaries			Entries			Total
Revenues:
Casino	$	—		$	258,247		$	2,097,824		$	—		$	2,356,071
Rooms		—			240,236			131,313			—			371,549
Food and beverage		—			84,795			112,363			—			197,158
Convention, retail and other		—			95,092			148,152			(19,763	)		223,481
		—			678,370			2,489,652			(19,763	)		3,148,259
Less-promotional allowances		(247	)		(91,444	)		(125,874	)		(1,330	)		(218,895	)
Net revenues		(247	)		586,926			2,363,778			(21,093	)		2,929,364
Operating expenses:
Casino		—			154,832			1,331,926			(1,176	)		1,485,582
Rooms		—			48,251			15,477			(1	)		63,727
Food and beverage		—			36,337			58,986			(3,222	)		92,101
Convention, retail and other		—			37,837			92,015			(6,122	)		123,730
Provision for doubtful accounts		—			17,695			17,458			—			35,153
General and administrative		—			120,035			179,681			(538	)		299,178
Corporate expense		42,307			132			16,991			(10,000	)		49,430
Rental expense		—			—			21,504			—			21,504
Pre-opening expense		357			3			87,251			(34	)		87,577
Development expense		833			—			—			—			833
Depreciation and amortization		6,036			116,130			201,617			—			323,783
Loss on disposal of assets		—			8,704			29,467			—			38,171
		49,533			539,956			2,052,373			(21,093	)		2,620,769
Operating income (loss)		(49,780	)		46,970			311,405			—			308,595
Other income (expense):
Interest income		1,319			42,033			1,356			(41,002	)		3,706
Interest expense, net of amounts capitalized		(8,164	)		(56,708	)		(131,282	)		41,002			(155,152	)
Other expense		—			(271	)		(12,378	)		—			(12,649	)
Gain (loss) on early retirement of debt		3,358			—			(221	)		—			3,137
Income from equity investments in subsidiaries		136,167			108,654			—			(244,821	)		—
Income before income taxes		82,900			140,678			168,880			(244,821	)		147,637
Income tax benefit (expense)		(23,512	)		(730	)		2,967			—			(21,275	)
Net income		59,388			139,948			171,847			(244,821	)		126,362
Net income attributable to noncontrolling interests		—			—			(66,974	)		—			(66,974	)
Net income attributable to Las Vegas Sands Corp.	$	59,388		$	139,948		$	104,873		$	(244,821	)	$	59,388

Condensed Consolidating Statements of Cash Flows

										Consolidating/
	Las Vegas			Guarantor			Non-Guarantor			Eliminating
	Sands Corp.			Subsidiaries			Subsidiaries			Entries			Total
Net cash generated from (used in) operating activities	$	(82,787	)	$	139,097		$	1,025,213		$	—		$	1,081,523
Cash flows from investing activities:
Changes in restricted cash and cash equivalents		—			2,071			364,609			—			366,680
Capital expenditures		(6,898	)		(16,951	)		(696,847	)		—			(720,696	)
Proceeds from disposal of property and equipment		—			—			4,416			—			4,416
Acquisition of intangible assets		(100	)		—			(475	)		—			(575	)
Notes receivable to non-guarantor subsidiaries		—			(34,171	)		—			34,171			—
Dividends from Guarantor Subsidiaries		49,078			—			—			(49,078	)		—
Dividends from non-guarantor subsidiaries		—			41,400			—			(41,400	)		—
Capital contributions to subsidiaries		(50,000	)		—			—			50,000			—
Net used in investing activities		(7,920	)		(7,651	)		(328,297	)		(6,307	)		(350,175	)
Cash flows from financing activities:
Proceeds from exercise of stock options		13,030			—			1,300			—			14,330
Proceeds from exercise of warrants		6,760			—			—			—			6,760
Dividends paid to preferred stockholders		(38,817	)		—			—			—			(38,817	)
Dividends paid to Las Vegas Sands Corp.		—			(49,078	)		—			49,078			—
Dividends paid to Guarantor Subsidiaries		—			—			(41,400	)		41,400			—
Distributions to noncontrolling interests		—			(1,292	)		(4,571	)		—			(5,863	)
Capital contributions received		—			50,000			—			(50,000	)		—
Borrowings from Guarantor Subsidiaries		—			—			34,171			(34,171	)		—
Repayments on Singapore credit facility		—			—			(198,940	)		—			(198,940	)
Repayments on VML credit facility		—			—			(25,000	)		—			(25,000	)
Repayments on senior secured credit facility		—			(14,469	)		—			—			(14,469	)
Repayments on ferry financing		—			—			(17,508	)		—			(17,508	)
Repayments on airplane financings		(1,844	)		—			—			—			(1,844	)
Repayments on HVAC equipment lease		—			(861	)		—			—			(861	)
Repayments on FF&E facility and other long-term debt		—			—			(896	)		—			(896	)
Repurchase of preferred stock		(5,328	)		—			—			—			(5,328	)
Payments of preferred stock inducement premium		(16,493	)		—			—			—			(16,493	)
Payments of deferred financing costs		—			—			(57	)		—			(57	)
Net cash used in financing activities		(42,692	)		(15,700	)		(252,901	)		6,307			(304,986	)
Effect of exchange rate on cash		—			—			15,663			—			15,663
Increase (decrease) in cash and cash equivalents		(133,399	)		115,746			459,678			—			442,025
Cash and cash equivalents at beginning of period		1,031,844			412,226			1,593,011			—			3,037,081
Cash and cash equivalents at end of period	$	898,445		$	527,972		$	2,052,689		$	—		$	3,479,106

Condensed Consolidating Statements of Cash Flows
For the Six Months Ended June 30, 2010

										Consolidating/
	Las Vegas			Guarantor			Non-Guarantor			Eliminating
	Sands Corp.			Subsidiaries			Subsidiaries			Entries			Total
Net cash generated from (used in) operating activities	$	(60,730	)	$	190,889		$	507,746		$	—		$	637,905
Cash flows from investing activities:
Changes in restricted cash		—			159			22,767			—			22,926
Capital expenditures		(5,246	)		(12,545	)		(1,109,477	)		—			(1,127,268	)
Proceeds from disposal of property and equipment		—			745			4,902			—			5,647
Acquisition of intangible assets		—			—			(43,305	)		—			(43,305	)
Purchases of investments		—			—			(173,774	)		—			(173,774	)
Notes receivable to non-guarantor subsidiaries		—			(72,723	)		—			72,723			—
Dividends from Guarantor Subsidiaries		3,042,483			—			—			(3,042,483	)		—
Dividends from non-guarantor subsidiaries		—			23,400			—			(23,400	)		—
Capital contributions to subsidiaries		(2,700,000	)		(16,500	)		—			2,716,500			—
Net cash generated from (used in) investing activities		337,237			(77,464	)		(1,298,887	)		(276,660	)		(1,315,774	)
Cash flows from financing activities:
Proceeds from exercise of stock options		3,923			—			—			—			3,923
Dividends paid to preferred stockholders		(46,700	)		—			—			—			(46,700	)
Dividends paid to Las Vegas Sands Corp.		—			(3,042,483	)		—			3,042,483			—
Dividends paid to Guarantor Subsidiaries		—			—			(23,400	)		23,400			—
Capital contributions received		—			2,700,000			16,500			(2,716,500	)		—
Borrowings from Guarantor Subsidiaries		—			—			72,723			(72,723	)		—
Proceeds from Singapore credit facility		—			—			596,560			—			596,560
Repayments on senior secured credit facility		—			(795,860	)		—			—			(795,860	)
Repayments on VML credit facility		—			—			(375,036	)		—			(375,036	)
Repurchase and cancellation of senior notes		(56,675	)		—			—			—			(56,675	)
Repayments on ferry financing		—			—			(17,493	)		—			(17,493	)
Repayments on airplane financings		(1,844	)		—			—			—			(1,844	)
Repayments on HVAC equipment lease		—			(882	)		—			—			(882	)
Repayments on FF&E facility and other long-term debt		—			(16,700	)		(728	)		—			(17,428	)
Payments of deferred financing costs		—			—			(54,365	)		—			(54,365	)
Net cash generated from (used in) financing activities		(101,296	)		(1,155,925	)		214,761			276,660			(765,800	)
Effect of exchange rate on cash		—			—			7,088			—			7,088
Increase (decrease) in cash and cash equivalents		175,211			(1,042,500	)		(569,292	)		—			(1,436,581	)
Cash and cash equivalents at beginning of period		254,256			3,033,625			1,667,535			—			4,955,416
Cash and cash equivalents at end of period	$	429,467		$	1,991,125		$	1,098,243		$	—		$	3,518,835