For the quarter ending 2026-03-31, LVS had -$511M decrease in cash & cash equivalents over the period. $537M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Adjusted property ebitda | 0 | 1,414 | 1,344 | - |
| Stock-based compensation | 3 | 7 | 11 | - |
| Corporate | 83 | 90 | 78 | - |
| Pre-opening | 4 | 4 | 7 | - |
| Development | 41 | 59 | 72 | - |
| Depreciation and amortization | 357 | 363 | 368 | - |
| Amortization of leasehold interests in land | 21 | 20 | 21 | - |
| Gain (loss) on sale of assets and asset impairment charges | -8 | -164 | -68 | - |
| Operating income | 904 | 707 | 719 | - |
| Interest income | 35 | 38 | 39 | - |
| Interest expense, net of amounts capitalized | 188 | 191 | 187 | - |
| Other expense | -3 | -3 | 11 | - |
| Gain (loss) on modification or early retirement of debt | - | 0 | 0 | - |
| Income tax expense | 107 | 103 | 91 | - |
| Net income | 641 | 448 | 844 | 943 |
| Depreciation and amortization | 357 | 363 | 368 | 371 |
| Amortization of leasehold interests in land | 21 | 20 | 21 | 20 |
| Amortization of deferred financing costs and original issue discount | 15 | 15 | 15 | 15 |
| Change in fair value of derivatives | - | -7 | - | 7 |
| Paid-in-kind interest income | - | -1 | 0 | 1 |
| Gain (loss) on modification or early retirement of debt | 0 | 0 | 0 | 0 |
| Loss on disposal or impairment of assets | -7 | -162 | -66 | -7 |
| Stock-based compensation expense | 24 | 15 | 14 | 14 |
| Provision for credit losses | 29 | 46 | 18 | 16 |
| Foreign exchange loss | -3 | -4 | 10 | -27 |
| Deferred income taxes | -6 | -4 | -31 | -19 |
| Accounts receivable | -32 | 237 | 36 | 99 |
| Other assets | 9 | 1 | -19 | 9 |
| Leasehold interests in land | 137 | 0 | 0 | 848 |
| Accounts payable | -31 | 21 | 7 | 8 |
| Other liabilities | -215 | 351 | 166 | 164 |
| Net cash generated from operating activities | 731 | 1,204 | 1,876 | 992 |
| Capital expenditures | 194 | 274 | 229 | 286 |
| Proceeds from disposal of property and equipment | - | 0 | 7 | 0 |
| Acquisition of intangible assets and other | 0 | 0 | 0 | 0 |
| Other | -8 | -8 | -11 | - |
| Net cash used in investing activities | -186 | -266 | -752 | -574 |
| Proceeds from exercise of stock options | 4 | 264 | - | - |
| Tax withholding on vesting of equity awards | 6 | 0 | 0 | 0 |
| Repurchase of common stock | 753 | 501 | 500 | 800 |
| Dividends paid and noncontrolling interest payments | - | - | - | 246 |
| Dividends paid | 202 | 169 | 664 | - |
| Proceeds from debt | 797 | 0 | 0 | 3,984 |
| Repayments of debt | 830 | 31 | 31 | 4,856 |
| Payments of financing costs | 0 | 0 | 0 | 37 |
| Settled contracts for purchase of noncontrolling interest | - | 67 | 279 | 137 |
| Unsettled contracts for purchase of noncontrolling interest | - | -59 | -41 | 100 |
| Other | -50 | -5 | -5 | -5 |
| Net cash used in financing activities | -1,040 | -451 | -1,785 | -257 |
| Effect of exchange rate on cash, cash equivalents and restricted cash and cash equivalents | -16 | 1 | 11 | 10 |
| Decrease in cash, cash equivalents and restricted cash and cash equivalents | -511 | 488 | -97 | 414 |
| Cash, cash equivalents and restricted cash and cash equivalents at beginning of period | 3,966 | 3,478 | 3,575 | 3,161 |
| Cash, cash equivalents and restricted cash and cash equivalents at end of period | 3,455 | 3,966 | 3,478 | 3,575 |