Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Las Vegas Sands Corp., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Casino	2,627)	2,892)	2,268)	9,828)	9,819)
Rooms	469)	415)	498)	1,752)	1,733)
Food and beverage	301)	199)	283)	897)	865)
Mall	580)	649)	381)	716)	690)
Convention, retail and other	133)	79)	182)	546)	622)
Net revenues	4,110)	4,234)	3,612)	13,739)	13,729)
Casino	(1,792)	(2,068)	(1,758)	(5,304)	(5,448)
Rooms	(173)	(164)	(271)	(444)	(438)
Food and beverage	(319)	(244)	(371)	(702)	(673)
Mall	(73)	(65)	(59)	(78)	(79)
Convention, retail and other	(103)	(85)	(149)	(304)	(336)
Cost of revenues	(2,460)	(2,626)	(2,608)	(6,832)	(6,974)
Gross profit	1,650)	1,608)	1,004)	6,907)	6,755)
Provision for credit losses	(15)	(3)	(99)	(30)	(5)
General and administrative	(936)	(831)	(1,093)	(1,502)	(1,483)
Corporate	(235)	(211)	(168)	(313)	(202)
Pre-opening	(13)	(19)	(19)	(34)	(6)
Development	(143)	(109)	(18)	(24)	(12)
Depreciation and amortization	(1,036)	(1,041)	(1,160)	(1,165)	(1,111)
Amortization of leasehold interests in land	(55)	(56)	(55)	(51)	(35)
Loss on disposal or impairment of assets	(9)	(27)	(80)	(90)	(150)
Operating income (loss)	(792)	(689)	(1,688)	3,698)	3,751)
Interest income	116)	4)	21)	74)	59)
Interest expense, net of amounts capitalized	(702)	(621)	(536)	(555)	(446)
Other income (expense)	(9)	(31)	22)	23)	26)
Gain on sale of Sands Bethlehem	—)	—)	—)	556)	—)
Loss on modification or early retirement of debt	—)	(137)	—)	(24)	(64)
Income (loss) from continuing operations before income taxes	(1,387)	(1,474)	(2,181)	3,772)	3,326)
Income tax (expense) benefit	(154)	5)	38)	(468)	(375)
Net income (loss) from continuing operations	(1,541)	(1,469)	(2,143)	3,304)	2,951)
Income from operations of discontinued operations, net of tax	46)	193)	—)	—)	—)
Gain on disposal of discontinued operations, net of tax	2,861)	—)	—)	—)	—)
Adjustment to gain on disposal of discontinued operations, net of tax	(9)	—)	—)	—)	—)
Income from discontinued operations, net of tax	2,898)	193)	—)	—)	—)
Net income (loss)	1,357)	(1,276)	(2,143)	3,304)	2,951)
Net (income) loss attributable to noncontrolling interests from continuing operations	475)	315)	458)	(606)	(538)
Net income (loss) attributable to Las Vegas Sands Corp.	1,832)	(961)	(1,685)	2,698)	2,413)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Income statement item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Las Vegas Sands Corp. net revenues increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Las Vegas Sands Corp. operating income (loss) increased from 2020 to 2021 but then slightly decreased from 2021 to 2022.
Income (loss) from continuing operations before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Las Vegas Sands Corp. income (loss) from continuing operations before income taxes increased from 2020 to 2021 and from 2021 to 2022.
Net income (loss) attributable to Las Vegas Sands Corp.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Las Vegas Sands Corp. net income (loss) attributable to Las Vegas Sands Corp. increased from 2020 to 2021 and from 2021 to 2022.

Las Vegas Sands Corp. (NYSE:LVS)

Income Statement