Item 6. — SELECTED FINANCIAL DATA

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Item 6. — SELECTED FINANCIAL DATA

The following reflects selected historical financial data that should be read in conjunction with “Item 7 — Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and notes thereto included elsewhere in this Annual Report on Form 10-K. The historical results are not necessarily indicative of the results of operations to be expected in the future.


	Year Ended December 31,
	2010(1)			2009(2)(3)			2008(4)			2007(5)			2006
	(In thousands, except per share data)
STATEMENT OF OPERATIONS DATA
Gross revenues	$	7,317,937		$	4,929,444		$	4,735,126		$	3,104,422		$	2,340,178
Less — promotional allowances		(464,755	)		(366,339	)		(345,180	)		(153,855	)		(103,319	)

Net revenues		6,853,182			4,563,105			4,389,946			2,950,567			2,236,859
Operating expenses		5,672,596			4,591,845			4,226,283			2,620,557			1,662,762

Operating income (loss)		1,180,586			(28,740	)		163,663			330,010			574,097
Interest expense, net		(297,866	)		(310,748	)		(402,039	)		(172,344	)		(69,662	)
Other income (expense)		(8,260	)		(9,891	)		19,492			(8,682	)		(189	)
Loss on modification or early retirement of debt		(18,555	)		(23,248	)		(9,141	)		(10,705	)		—

Income (loss) before income taxes		855,905			(372,627	)		(228,025	)		138,279			504,246
Income tax benefit (expense)		(74,302	)		3,884			59,700			(21,591	)		(62,243	)

Net income (loss)		781,603			(368,743	)		(168,325	)		116,688			442,003
Net (income) loss attributable to noncontrolling interests		(182,209	)		14,264			4,767			—			—

Net income (loss) attributable to Las Vegas Sands Corp.		599,394			(354,479	)		(163,558	)		116,688			442,003
Preferred stock dividends		(92,807	)		(93,026	)		(13,638	)		—			—
Accretion to redemption value of preferred stock issued to Principal Stockholder’s family		(92,545	)		(92,545	)		(11,568	)		—			—
Preferred stock inducement premium		(6,579	)		—			—			—			—

Net income (loss) attributable to common stockholders	$	407,463		$	(540,050	)	$	(188,764	)	$	116,688		$	442,003

Per share data:
Basic earnings (loss) per share	$	0.61		$	(0.82	)	$	(0.48	)	$	0.33		$	1.25

Diluted earnings (loss) per share	$	0.51		$	(0.82	)	$	(0.48	)	$	0.33		$	1.24

OTHER DATA
Capital expenditures	$	2,023,981		$	2,092,896		$	3,789,008		$	3,793,703		$	1,925,291


	December 31,
	2010		2009(6)		2008		2007		2006
	(In thousands)
BALANCE SHEET DATA
Total assets	$	21,044,308	$	20,572,106	$	17,144,113	$	11,466,517	$	7,126,458
Long-term debt	$	9,373,755	$	10,852,147	$	10,356,115	$	7,517,997	$	4,136,152
Preferred stock issued to Principal Stockholder’s family	$	503,379	$	410,834	$	318,289	$	—	$	—
Total Las Vegas Sands Corp. stockholders’ equity	$	6,662,991	$	5,850,699	$	4,422,108	$	2,260,274	$	2,075,154


(1)		Marina Bay Sands partially opened on April 27, 2010.

(2)		Sands Bethlehem opened on May 22, 2009.

(3)		During the year ended December 31, 2009, we recorded an impairment loss of $169.5 million, a legal settlement expense of $42.5 million and a valuation allowance against our U.S. deferred tax assets of $96.9 million.

(4)		Four Seasons Macao opened on August 28, 2008.

(5)		The Venetian Macao opened on August 28, 2007, and The Palazzo partially opened on December 30, 2007.

(6)		During 2010, we revised our December 31, 2009, consolidated balance sheet to appropriately reflect the impact of the issuance of SCL shares upon its initial public offering. This revision resulted in a $655.7 million increase in the noncontrolling interests balance with a corresponding reduction to capital in excess of par value. The revision, which we determined is not material, had no impact on total equity, results of operations or cash flows.

Previous: Item 5. — MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. — MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Item 6. — SELECTED FINANCIAL DATA

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