2020 Form 10-K Financial Statement

#000130051421000033 Filed on February 05, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019 Q3
Revenue $2.940B $3.509B $3.250B
YoY Change -75.76% 0.98% -3.62%
Cost Of Revenue $2.608B $1.717B $1.602B
YoY Change -61.83% -4.19% -6.97%
Gross Profit $1.004B $1.792B $1.648B
YoY Change -85.46% 6.48% -0.12%
Gross Profit Margin 34.15% 51.07% 50.71%
Selling, General & Admin $798.0M $470.0M $364.0M
YoY Change -28.62% -0.42% -0.55%
% of Gross Profit 79.48% 26.23% 22.09%
Research & Development $18.00M $11.00M $4.000M
YoY Change -25.0% 266.67% 0.0%
% of Gross Profit 1.79% 0.61% 0.24%
Depreciation & Amortization $1.215B $305.0M $298.0M
YoY Change -0.08% 2.35% 2.05%
% of Gross Profit 121.02% 17.02% 18.08%
Operating Expenses $816.0M $786.0M $368.0M
YoY Change -28.55% 1.68% -0.54%
Operating Profit -$1.393B $934.0M $899.0M
YoY Change -141.4% 6.86% -2.49%
Interest Expense $523.0M -$117.0M $137.0M
YoY Change 16.48% 1.74% 8.73%
% of Operating Profit -12.53% 15.24%
Other Income/Expense, Net $19.00M $31.00M -$7.000M
YoY Change -66.07% -487.5% -143.75%
Pretax Income -$1.876B $848.0M $751.0M
YoY Change -152.11% 14.29% -3.96%
Income Tax $24.00M $65.00M $82.00M
% Of Pretax Income 7.67% 10.92%
Net Earnings -$1.685B $629.0M $533.0M
YoY Change -162.45% -470.0% -6.65%
Net Earnings / Revenue -57.31% 17.93% 16.4%
Basic Earnings Per Share -$2.21 $0.82 $0.69
Diluted Earnings Per Share -$2.21 $0.82 $0.69
COMMON SHARES
Basic Shares Outstanding 764.0M shares 768.0M shares 769.0M shares
Diluted Shares Outstanding 764.0M shares 769.0M shares

Balance Sheet

Concept 2020 2019 Q4 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.082B $4.226B $3.817B
YoY Change -50.73% -9.08% -20.01%
Cash & Equivalents $2.082B $4.226B $3.817B
Short-Term Investments
Other Short-Term Assets $3.351B $198.0M $201.0M
YoY Change 1592.42% 26.11% 34.0%
Inventory $22.00M $37.00M $33.00M
Prepaid Expenses
Receivables $252.0M $844.0M $757.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.707B $5.305B $4.808B
YoY Change 7.58% -4.69% -14.36%
LONG-TERM ASSETS
Property, Plant & Equipment $14.54B $14.84B $14.59B
YoY Change -16.01% -2.05% -3.92%
Goodwill
YoY Change
Intangibles $42.00M $45.00M
YoY Change -41.67% -40.79%
Long-Term Investments
YoY Change
Other Assets $539.0M $454.0M $457.0M
YoY Change -1.28% 140.21% 238.52%
Total Long-Term Assets $15.10B $17.89B $17.62B
YoY Change -15.61% 5.38% -0.6%
TOTAL ASSETS
Total Short-Term Assets $5.707B $5.305B $4.808B
Total Long-Term Assets $15.10B $17.89B $17.62B
Total Assets $20.81B $23.20B $22.43B
YoY Change -10.31% 2.89% -3.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $89.00M $149.0M $170.0M
YoY Change -40.27% -16.29% 11.11%
Accrued Expenses $1.474B $2.396B $2.224B
YoY Change 3.44% 76.7% 1.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $75.00M $70.00M $66.00M
YoY Change 7.14% -36.94% -40.54%
Total Short-Term Liabilities $2.816B $3.224B $3.004B
YoY Change -12.66% 2.12% 3.37%
LONG-TERM LIABILITIES
Long-Term Debt $13.93B $12.42B $11.88B
YoY Change 12.13% 4.62% 0.07%
Other Long-Term Liabilities $336.0M $513.0M $496.0M
YoY Change -61.07% 186.59% 183.43%
Total Long-Term Liabilities $14.27B $513.0M $496.0M
YoY Change 7.38% 186.59% 183.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.816B $3.224B $3.004B
Total Long-Term Liabilities $14.27B $513.0M $496.0M
Total Liabilities $17.83B $16.69B $15.91B
YoY Change -0.99% 5.63% 2.39%
SHAREHOLDERS EQUITY
Retained Earnings $3.101B $3.059B
YoY Change 11.95% -13.12%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.481B $4.181B
YoY Change 20.23% 26.81%
Treasury Stock Shares 69.00M shares 65.00M shares
Shareholders Equity $2.973B $5.187B $5.359B
YoY Change
Total Liabilities & Shareholders Equity $20.81B $23.20B $22.43B
YoY Change -10.31% 2.89% -3.91%

Cashflow Statement

Concept 2020 2019 Q4 2019 Q3
OPERATING ACTIVITIES
Net Income -$1.685B $629.0M $533.0M
YoY Change -162.45% -470.0% -6.65%
Depreciation, Depletion And Amortization $1.215B $305.0M $298.0M
YoY Change -0.08% 2.35% 2.05%
Cash From Operating Activities -$1.312B $1.242B $900.0M
YoY Change -143.19% -4.53% 0.45%
INVESTING ACTIVITIES
Capital Expenditures $1.227B -$460.0M -$303.0M
YoY Change 20.53% 41.1% 46.38%
Acquisitions
YoY Change
Other Investing Activities $1.000M $5.000M $0.00
YoY Change -99.91% -16.67% -100.0%
Cash From Investing Activities -$1.329B -$455.0M -$303.0M
YoY Change 1190.29% 42.19% 48.53%
FINANCING ACTIVITIES
Cash Dividend Paid $911.0M
YoY Change -69.63%
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $560.0M -400.0M -781.0M
YoY Change -116.63% -62.86% 181.95%
NET CHANGE
Cash From Operating Activities -$1.312B 1.242B 900.0M
Cash From Investing Activities -$1.329B -455.0M -303.0M
Cash From Financing Activities $560.0M -400.0M -781.0M
Net Change In Cash -$2.105B 387.0M -184.0M
YoY Change 402.39% -503.13% -144.34%
FREE CASH FLOW
Cash From Operating Activities -$1.312B $1.242B $900.0M
Capital Expenditures $1.227B -$460.0M -$303.0M
Free Cash Flow -$2.539B $1.702B $1.203B
YoY Change -225.69% 4.61% 9.07%

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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Actual results could vary from those estimates.</span></div>
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CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2018 us-gaap Depreciation Nonproduction
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CY2019 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2018 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
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CY2020 us-gaap Depreciation Nonproduction
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1140000000 USD
CY2020Q4 lvs Leasehold Interests In Land Gross
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CY2019Q4 lvs Leasehold Interests In Land Gross
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2754000000 USD
CY2020Q4 lvs Leasehold Interests In Land Accumulated Amortization
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537000000 USD
CY2019Q4 lvs Leasehold Interests In Land Accumulated Amortization
LeaseholdInterestsInLandAccumulatedAmortization
482000000 USD
CY2020Q4 lvs Leasehold Interests In Land Net
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2256000000 USD
CY2019Q4 lvs Leasehold Interests In Land Net
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2272000000 USD
CY2020 lvs Amortization Of Leasehold Interests In Land
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55000000 USD
CY2019 lvs Amortization Of Leasehold Interests In Land
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51000000 USD
CY2018 lvs Amortization Of Leasehold Interests In Land
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35000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
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54000000 USD
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31000000 USD
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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12000000 USD
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CY2019Q4 us-gaap Finite Lived Intangible Assets Net
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42000000 USD
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17000000 USD
CY2019 us-gaap Amortization Of Intangible Assets
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17000000 USD
CY2018 us-gaap Amortization Of Intangible Assets
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16000000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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CY2020Q4 us-gaap Employee Related Liabilities Current
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CY2019Q4 us-gaap Employee Related Liabilities Current
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CY2019Q4 us-gaap Interest Payable Current
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CY2020Q4 lvs Accrued Taxes And Licenses Current
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155000000 USD
CY2019Q4 lvs Accrued Taxes And Licenses Current
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389000000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
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342000000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
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342000000 USD
CY2020Q4 lvs Accrued Liabilities Other Current
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1706000000 USD
CY2019Q4 lvs Accrued Liabilities Other Current
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2396000000 USD
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63000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
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CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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76000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
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70000000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
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CY2019 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
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CY2020 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2019 us-gaap Repayments Of Long Term Debt And Capital Securities
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CY2018 us-gaap Repayments Of Long Term Debt And Capital Securities
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63000000 USD
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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6883000000 USD
CY2020Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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14120000000 USD
CY2020Q4 us-gaap Long Term Debt Fair Value
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15150000000 USD
CY2019Q4 us-gaap Long Term Debt Fair Value
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13210000000 USD
CY2020Q4 us-gaap Debt Instrument Carrying Amount
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14120000000 USD
CY2019Q4 us-gaap Debt Instrument Carrying Amount
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CY2020Q4 us-gaap Preferred Stock Shares Authorized
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CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
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CY2019Q4 us-gaap Common Stock Dividends Per Share Declared
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CY2018Q4 us-gaap Common Stock Dividends Per Share Declared
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CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2019 lvs Shares Paidfor Tax Withholdingand Exercise Pricefor Share Based Compensation
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
627000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
162000000 USD
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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3772000000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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3326000000 USD
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CY2019 us-gaap Current Foreign Tax Expense Benefit
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245000000 USD
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CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2019 us-gaap Current Federal Tax Expense Benefit
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CY2018 us-gaap Current Federal Tax Expense Benefit
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CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
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33000000 USD
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CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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22000000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2020 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Expense Benefit
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CY2018 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Exempt Income
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2019 us-gaap Income Tax Holiday Aggregate Dollar Amount
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CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
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CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
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CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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CY2020Q4 lvs Deferred Tax Assets Deferred Gain On Sale Of Assets
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CY2019Q4 lvs Deferred Tax Assets Deferred Gain On Sale Of Assets
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CY2020Q4 lvs Deferred Tax Assets Pre Opening Expenses
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CY2019Q4 us-gaap Deferred Tax Assets Other
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CY2019Q4 us-gaap Deferred Tax Assets Gross
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CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020Q4 us-gaap Deferred Tax Assets Net
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CY2019Q4 us-gaap Deferred Tax Assets Net
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CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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CY2020Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
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CY2019Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
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CY2019Q4 us-gaap Deferred Tax Liabilities Other
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CY2020Q4 us-gaap Deferred Income Tax Liabilities
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CY2019Q4 us-gaap Deferred Income Tax Liabilities
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CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
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CY2019Q4 us-gaap Unrecognized Tax Benefits
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CY2017Q4 us-gaap Unrecognized Tax Benefits
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CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2019 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2018 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2019 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2020Q4 us-gaap Unrecognized Tax Benefits
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CY2019Q4 us-gaap Unrecognized Tax Benefits
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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CY2020Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2018Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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CY2019Q4 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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CY2019Q4 us-gaap Finance Lease Right Of Use Asset
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CY2019Q4 us-gaap Finance Lease Liability Current
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CY2019Q4 us-gaap Finance Lease Liability Noncurrent
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CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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CY2019 us-gaap Operating Lease Cost
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CY2020 us-gaap Short Term Lease Cost
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CY2019 us-gaap Short Term Lease Cost
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CY2020 us-gaap Variable Lease Cost
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CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2020 us-gaap Finance Lease Interest Expense
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CY2019 us-gaap Finance Lease Interest Expense
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CY2020 us-gaap Lease Cost
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CY2019 us-gaap Lease Cost
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CY2020 us-gaap Operating Lease Payments
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35000000 USD
CY2019 us-gaap Operating Lease Payments
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40000000 USD
CY2020 us-gaap Finance Lease Interest Payment On Liability
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CY2019 us-gaap Finance Lease Interest Payment On Liability
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CY2020 us-gaap Finance Lease Principal Payments
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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10000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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14000000 USD
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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36000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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14000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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30000000 USD
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
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8000000 USD
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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