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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME/(LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net revenues $ 2,185 $ 993 $ 6,276 $ 2,967
Operating expenses        
Property, general, administrative, and other 467 247 1,340 724
Reimbursable management costs 51 0 151 0
Depreciation and amortization 295 150 843 348
Corporate expense 79 40 237 129
Other operating costs [1] 29 36 128 53
Total operating expenses 1,953 909 5,637 2,584
Income from operations 232 84 639 383
Interest expense (341) (120) (1,005) (409)
Restructuring and support expenses and other [2],[3] (109) 448 (338) 2,319
Loss before income taxes 0 (484) (28) (2,345)
Income tax benefit/(provision) [4],[5] 111 45 134 (34)
Net income/(loss) 111 (439) 106 (2,379)
Net (income)/loss attributable to noncontrolling interests (1) 6 (1) 7
Net income/(loss) attributable to Caesars $ 110 $ (433) $ 105 $ (2,372)
Earnings/(loss) per share - basic and diluted        
Basic earnings/(loss) per share $ 0.16 $ (2.90) $ 0.15 $ (15.97)
Diluted earnings/(loss) per share $ 0.14 $ (2.90) $ 0.15 $ (15.97)
Weighted-average common shares outstanding - basic 681 149 692 148
Weighted-average common shares outstanding - diluted 835 149 697 148
Comprehensive income/(loss)        
Foreign currency translation adjustments $ 2 $ 0 $ (17) $ 0
Change in fair market value of interest rate swaps, net of tax 11 0 24 0
Other 0 0 1 0
Other comprehensive income, net of income taxes 13 0 8 0
Comprehensive income/(loss) 124 (439) 114 (2,379)
Foreign currency translation adjustments 1 0 4 0
Comprehensive loss attributable to noncontrolling interests 0 (6) (3) (7)
Comprehensive income/(loss) attributable to Caesars 124 (433) 117 (2,372)
Casino [Member]        
Net revenues 1,102 389 3,147 1,199
Direct Operating Costs 625 210 1,756 659
Food and Beverage [Member]        
Net revenues 408 206 1,182 617
Direct Operating Costs 284 143 823 426
Occupancy [Member]        
Net revenues 395 253 1,150 742
Direct Operating Costs 123 83 359 245
Product and Service, Other [Member]        
Net revenues 213 145 600 409
License and Service [Member]        
Net revenues 16 0 46 0
Service, Other [Member]        
Net revenues $ 51 $ 0 $ 151 $ 0
[1] (3) Amounts primarily represent costs incurred in connection with costs associated with the development activities and reorganization activities, and/or recoveries associated with such items.
[2] (1) 2018 amount primarily represents a change in fair value of our derivative liability related to the conversion option of the CEC Convertible Notes; 2017 amount primarily represents CEC’s costs in connection with the restructuring of CEOC.
[3] (2) 2018 amount primarily represents a change in fair value of our derivative liability related to the conversion option of the CEC Convertible Notes; 2017 amount primarily represents CEC’s costs in connection with the restructuring of CEOC.
[4] (1) Taxes are recorded at the consolidated level and not estimated or recorded to our Las Vegas and Other U.S. segments.
[5] (2) Taxes are recorded at the consolidated level and not estimated or recorded to our Las Vegas and Other U.S. segments.