Document and Entity Information |
12 Months Ended |
---|---|
Dec. 31, 2014 | |
Document And Entity Information [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2014 |
Document Fiscal Year Focus | 2014 |
Document Fiscal Period Focus | FY |
Trading Symbol | MPEL |
Entity Registrant Name | MELCO CROWN ENTERTAINMENT LTD |
Entity Central Index Key | 0001381640 |
Current Fiscal Year End Date | --12-31 |
X | ||||||||||
- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
|
X | ||||||||||
- Definition End date of current fiscal year in the format --MM-DD. No definition available.
|
X | ||||||||||
- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
|
X | ||||||||||
- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
|
X | ||||||||||
- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
X | ||||||||||
- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
|
X | ||||||||||
- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
|
X | ||||||||||
- Definition Document And Entity Information [Abstract] No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer); and the aggregate carrying amount of current obligations not separately disclosed in the balance sheet that are expected to be paid within one year. No definition available.
|
X | ||||||||||
- Definition Bank deposits with original maturity over three months. No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of land use right payable incurred through that date and due after one year (or beyond the operating cycle if longer). No definition available.
|
X | ||||||||||
- Definition Carrying amounts as of the balance sheet date of amounts paid or payable for the use of land that is expected to provide economic benefit for more than one year. No definition available.
|
X | ||||||||||
- Definition Amount of long-term debt, net of unamortized discount or premium and debt issuance costs, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Amount of long-term debt, net of unamortized discount or premium and debit issuance costs, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of amounts paid in advance which will be charged against earnings in periods after one year or beyond the operating cycle, if longer; deposits transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer; and aggregate carrying amount of other noncurrent assets not separately disclosed in the balance sheet that are expected to be realized or consumed after one year (or the normal operating cycle, if longer). No definition available.
|
X | ||||||||||
- Definition Common stock i) issued by an entity and held by the depository bank to facilitate the administration and operations of the entity's share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the share incentive plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the share incentive plan; and iii) the shares repurchased by the entity under the stock repurchase program pending for retirement. No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of capital lease obligation due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, netted by jurisdiction and classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount classified as property, plant and equipment attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
---|---|---|---|
Statement of Financial Position [Abstract] | |||
Ordinary shares, par value | $ 0.01 | $ 0.01 | |
Ordinary shares, authorized | 7,300,000,000 | 7,300,000,000 | |
Ordinary shares, issued | 1,633,701,920 | 1,666,633,448 | 1,658,059,295 |
Treasury shares, shares | 17,684,386 | 16,222,246 | 11,267,038 |
X | ||||||||||
- Definition Number of common stock i) issued by an entity and held by the depository bank to facilitate the administration and operations of the entity's share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the share incentive plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the share incentive plan; and iii) the shares repurchased by the entity under the stock repurchase program pending for retirement. No definition available.
|
X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for debt issuance expenses. No definition available.
|
X | ||||||||||
- Definition The current period expense charged against earnings on land use rights over the estimated lease term of the land. No definition available.
|
X | ||||||||||
- Definition Amount represents (1) the difference between the fair value of the payments made and the carrying amount of the debt at the time of the modification of debt and/or (2) the write-off of deferred financing fees associated with the modification. No definition available.
|
X | ||||||||||
- Definition Costs of sales and operating expenses for the period incurred from transactions with the certain parties. No definition available.
|
X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to reflect consumption during the period of an asset that is not used in production. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of costs incurred for pursuit of new business opportunities. No definition available.
|
X | ||||||||||
- Definition Revenue earned during the period from shows, retail outlets and others. No definition available.
|
X | ||||||||||
- Definition The cost of entertainment, retail and other operating costs and expenses. No definition available.
|
X | ||||||||||
- Definition Amount before tax of gain (loss) on sale or disposal of assets held for sale. No definition available.
|
X | ||||||||||
- Definition Aggregate revenue earned from hotel, casino, food and beverage, entertainment, retail, and other operations. This amount includes the retail value of complimentary accommodations, food and beverage, and other services provided to guests on a routine basis as part of our normal day to day operations. No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for commitment and other finance fees. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business) and the cost of borrowed funds accounted for as interest that was charged against earnings during the period. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of expenses charged against earnings to eliminate the capitalized costs of projects abandoned during the reporting period and expenses associated with business termination activities and other expenses. No definition available.
|
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the cost of generating revenues from a hotel's, including cruise lines, gaming operations; likewise, such revenues may be derived from gaming operations that also are hoteliers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Revenues generated by casino operations. Also includes revenues generated by and derived from a hotel's, including cruise lines, gaming operations; likewise, such revenues may be derived from gaming operations that also are hoteliers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cost related to generating revenue from the sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Revenue from sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Costs incurred and are directly related to generating occupancy revenues. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Revenue derived from the provision of short term lodging; it does not apply to lease or rental income. Includes hotel rooms, cruise revenue, and other revenue related to lodgings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the estimated retail value of accommodations, food and beverage, and other services furnished to guests without charge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 527,386 | $ 578,013 | $ 398,672 |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustment | (2,468) | (23,399) | 16 |
Change in fair value of interest rate swap agreements | (19) | 0 | 0 |
Change in fair value of forward exchange rate contracts | 0 | 0 | 99 |
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | 0 | (138) |
Other comprehensive loss | (2,487) | (23,399) | (23) |
Total comprehensive income | 524,899 | 554,614 | 398,649 |
Comprehensive loss attributable to noncontrolling interests | 81,824 | 68,314 | 18,540 |
Comprehensive income attributable to Melco Crown Entertainment Limited | $ 606,723 | $ 622,928 | $ 417,189 |
X | ||||||||||
- Definition Change in fair value of forward exchange rate contracts. No definition available.
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Acquisition Of Assets And Liabilities No definition available.
|
X | ||||||||||
- Definition The amount of vested restricted shares canceled. No definition available.
|
X | ||||||||||
- Definition Capital contributions from noncontrolling interests in an investment. No definition available.
|
X | ||||||||||
- Definition Change in fair value of forward exchange rate contracts. No definition available.
|
X | ||||||||||
- Definition This element represents the effect of net changes during the period impacting the parent's ownership interest in subsidiaries. The changes to the parent's ownership interest in subsidiaries represented by this element did not result in a deconsolidation of the subsidiaries from the consolidated financial statements. No definition available.
|
X | ||||||||||
- Definition The number of vested restricted shares cancelled. No definition available.
|
X | ||||||||||
- Definition Number of shares issued against treasury shares during the period for future vesting of Restricted Stock Awards and exercise of share options. No definition available.
|
X | ||||||||||
- Definition Value of stock issued against treasury shares during the period for future vesting of Restricted Stock Awards and exercise of share options. No definition available.
|
X | ||||||||||
- Definition Number of shares issued related to Restricted Stock Awards transferred from treasury shares during the period, net of any shares forfeited. No definition available.
|
X | ||||||||||
- Definition Value of shares issued related to Restricted Stock Awards transferred from treasury shares during the period, net of the share value of such awards forfeited. No definition available.
|
X | ||||||||||
- Definition Stock Purchased During Period Shares, Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Stock Purchased During Period Value, Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Number of shares that have been repurchased during the period under Share Repurchase Program for retirement. No definition available.
|
X | ||||||||||
- Definition Value of shares that have been repurchased during the period under Share Repurchase Program for retirement. No definition available.
|
X | ||||||||||
- Definition Number of shares that have been retired during the period under Share Repurchase Program. No definition available.
|
X | ||||||||||
- Definition Value of shares that have been retired during the period under Share Repurchase Program. The excess of the purchase price over par value can be charged against additional paid in capital. No definition available.
|
X | ||||||||||
- Definition Transfer of Shares Purchased Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Transfer of Shares Purchased Under Trust Arrangement for Future Vesting of Restricted Shares, Value No definition available.
|
X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) |
12 Months Ended |
---|---|
Dec. 31, 2014
$ / shares
| |
Statement of Stockholders' Equity [Abstract] | |
Dividend declared per share | $ 0.2076 |
X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
|
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 527,386 | $ 578,013 | $ 398,672 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 368,394 | 382,806 | 378,597 |
Amortization of deferred financing costs | 28,055 | 18,159 | 13,272 |
Amortization of deferred interest expense | 0 | 756 | 2,138 |
Amortization of discount on senior notes payable | 0 | 71 | 801 |
Excess payment on acquisition of assets and liabilities | 0 | 0 | 5,747 |
Interest accretion on capital lease obligations | 19,756 | 16,063 | 0 |
Interest income on restricted cash | (9,050) | 0 | 0 |
Loss on disposal of property and equipment | 4,550 | 2,483 | 887 |
Impairment loss recognized on property and equipment | 4,146 | 0 | 0 |
Allowance for doubtful debts and direct write off | 37,669 | 44,299 | 28,416 |
Written off contract acquisition costs | 0 | 1,582 | 0 |
Gain on disposal of assets held for sale | (22,072) | 0 | 0 |
Loss on extinguishment of debt | 0 | 50,935 | 0 |
Written off deferred financing costs on modification of debt | 0 | 10,538 | 0 |
Share-based compensation | 20,401 | 14,987 | 8,973 |
Reclassification of accumulated income of forward exchange rate contracts from accumulated other comprehensive losses | 0 | 0 | (138) |
Change in fair value of interest rate swap agreements | 0 | 0 | (363) |
Changes in operating assets and liabilities: | |||
Accounts receivable | (7,732) | (15,261) | (42,367) |
Amounts due from affiliated companies | (1,056) | 1,299 | 524 |
Amount due from a shareholder | 0 | 0 | 6 |
Inventories | (4,942) | (1,593) | (1,318) |
Prepaid expenses and other current assets | (3,893) | (25,974) | (3,716) |
Long-term prepayments, deposits and other assets | (49,007) | (1,197) | (2,679) |
Deferred tax assets | (22) | 12 | (81) |
Accounts payable | 4,603 | (3,920) | 1,722 |
Accrued expenses and other current liabilities | (42,668) | 71,527 | 164,886 |
Income tax payable | (239) | 5,640 | (313) |
Amounts due to affiliated companies | (2,000) | 2,164 | (564) |
Amount due to a shareholder | (79) | 79 | 0 |
Other long-term liabilities | 26,271 | 2,010 | 809 |
Deferred tax liabilities | (3,857) | (3,544) | (3,678) |
Net cash provided by (used in) operating activities | 894,614 | 1,151,934 | 950,233 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Payment for capitalized construction costs | (977,182) | (496,915) | (79,211) |
Changes in restricted cash | (678,151) | 268,414 | (1,047,019) |
Payment for acquisition of property and equipment | (237,715) | (78,250) | (141,269) |
Placement of bank deposits with original maturity over three months | (110,616) | (626,940) | 0 |
Advance payments for construction costs | (107,587) | (161,633) | 0 |
Deposits for acquisition of property and equipment | (99,443) | (17,198) | (7,708) |
Payment for land use rights | (50,541) | (64,297) | (53,830) |
Payment for entertainment production costs | (1,346) | (2,064) | (1,788) |
Payment for contract acquisition costs | 0 | (27,722) | 0 |
Payment for security deposit | 0 | (4,293) | 0 |
Proceeds from deposits on sale of assets held for sale | 0 | 1,285 | 0 |
Net payment for acquisition of assets and liabilities | 0 | 0 | (5,315) |
Proceeds from sale of property and equipment | 1,117 | 343 | 422 |
Net proceeds from sale of assets held for sale | 29,255 | 0 | 0 |
Withdrawals of bank deposits with original maturity over three months | 626,940 | 0 | 0 |
Net cash used in investing activities | (1,605,269) | (1,209,270) | (1,335,718) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividends paid | (342,718) | 0 | 0 |
Repurchase of shares for retirement | (300,495) | 0 | 0 |
Principal payments on long-term debt | (262,563) | (1,667,969) | (2,755) |
Payment of deferred financing costs | (12,742) | (129,133) | (30,297) |
Purchase of shares under trust arrangement for future vesting of restricted shares | (1,721) | (8,770) | 0 |
Principal payments on capital lease obligations | (228) | (38) | 0 |
Prepayment of deferred financing costs | 0 | (56,535) | (18,812) |
Deferred payment for acquisition of assets and liabilities | 0 | (25,000) | (25,000) |
Proceeds from exercise of share options | 736 | 4,017 | 3,599 |
Capital contribution from noncontrolling interests | 92,000 | 280,000 | 140,000 |
Net proceeds from issuance of shares of a subsidiary | 122,167 | 338,461 | 0 |
Proceeds from long-term debt | 1,632,514 | 1,000,000 | 868,000 |
Net cash (used in) provided by financing activities | 926,950 | (264,967) | 934,735 |
EFFECT OF FOREIGN EXCHANGE ON CASH AND CASH EQUIVALENTS | (397) | (5,149) | 1,935 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 215,898 | (327,452) | 551,185 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 1,381,757 | 1,709,209 | 1,158,024 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 1,597,655 | 1,381,757 | 1,709,209 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS | |||
Cash paid for interest (net of capitalized interest) | (95,118) | (127,807) | (102,015) |
Cash paid for tax (net of refunds) | (7,154) | (333) | (1,129) |
NON-CASH INVESTING AND FINANCING ACTIVITIES | |||
Costs of property and equipment funded through capital lease obligations | 850 | 288,535 | 0 |
Costs of property and equipment funded through accrued expenses and other current liabilities and other long-term liabilities | 60,738 | 15,744 | 10,967 |
Costs of property and equipment funded through amounts due to affiliated companies | 2,809 | 215 | 428 |
Construction costs funded through accrued expenses and other current liabilities, other long-term liabilities and capital lease obligations | 200,800 | 87,611 | 49,508 |
Land use rights costs funded through accrued expenses and other current liabilities and land use rights payable | 0 | 14,608 | 69,057 |
Deferred financing costs funded through accrued expenses and other current liabilities | $ 248 | $ 4,522 | $ 7,080 |
X | ||||||||||
- Definition Amount of the current period expense charged against operations, the offset will be either to the allowance for doubtful accounts for the purpose of reducing receivables or written off directly against receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for debt issuance expenses. No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for deferred interest expenses. No definition available.
|
X | ||||||||||
- Definition Cash flows related to advance payments for construction costs. No definition available.
|
X | ||||||||||
- Definition Future cash outflow to pay for construction cost that have occurred through accrued expenses, other current liabilities, other long term liabilities and capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Future cash outflow to pay for purchases of fixed assets that have occurred through amounts due from (to) affiliated companies. No definition available.
|
X | ||||||||||
- Definition Costs of property and equipment funded through capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Future cash outflow to pay for deferred financing costs that have occurred through accrued expenses and other current liabilities. No definition available.
|
X | ||||||||||
- Definition Deferred Payment For Acquisition Of Assets And Liabilities No definition available.
|
X | ||||||||||
- Definition The cash outflow associated with the deposits for the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay deposits for construction of self-constructed assets. No definition available.
|
X | ||||||||||
- Definition The excess of consideration paid over the net assets acquired. No definition available.
|
X | ||||||||||
- Definition Amount before tax of gain (loss) on sale or disposal of assets held for sale. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of accrued expenses and other current liabilities. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the deferred tax assets that represents the temporary difference that results from income (loss) that is recognized for accounting purposes but not for tax purposes. No definition available.
|
X | ||||||||||
- Definition The net change during the reporting period in the deferred tax liabilities that represents the temporary difference that results from income (loss) that is recognized for accounting purposes but not for tax purposes. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of long-term prepayment, deposits and other assets. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of prepaid expenses and other current assets. No definition available.
|
X | ||||||||||
- Definition Interest income derived from funds that are not available for withdrawal or use (such as funds held in escrow). No definition available.
|
X | ||||||||||
- Definition Future cash outflow to pay for land use right that have occurred through land use rights payable and accrued expenses, other current liabilities. No definition available.
|
X | ||||||||||
- Definition Payment for Contract Acquisition Costs No definition available.
|
X | ||||||||||
- Definition The cash outflow associated with the payment of entertainment production costs. No definition available.
|
X | ||||||||||
- Definition Payment To Placement Of Bank Deposit With Original Maturity Over Three Months No definition available.
|
X | ||||||||||
- Definition The payment of security deposit in accordance with the provisional license for COD Manila. No definition available.
|
X | ||||||||||
- Definition The cash outflow associated with the payment of land use rights. No definition available.
|
X | ||||||||||
- Definition Payments for purchase of shares under trust arrangement for future vesting of restricted shares. No definition available.
|
X | ||||||||||
- Definition The cash outflows to pay for construction of self-constructed assets. No definition available.
|
X | ||||||||||
- Definition The net cash outflow associated with the acquisition of assets and liabilities during the period. No definition available.
|
X | ||||||||||
- Definition The cash outflow for prepayment of deferred financing costs. No definition available.
|
X | ||||||||||
- Definition Cash inflow related to receipts of deposits on sale of assets held for sale. No definition available.
|
X | ||||||||||
- Definition Proceeds From Sale Of Assets Held For Sale No definition available.
|
X | ||||||||||
- Definition Proceeds From Withdrawals Of Bank Deposit With Original Maturity Over Three Months No definition available.
|
X | ||||||||||
- Definition Future cash outflow to pay for purchases of fixed assets and construction in progress expenditures that have occurred through accrued expenses, other current liabilities and other long term liabilities. No definition available.
|
X | ||||||||||
- Definition Net of tax amount of the income statement impact of the reclassification adjustment for translation gain (loss) realized upon the sale or complete or substantially complete liquidation of an investment in a foreign entity. Also includes reclassification adjustments on foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. No definition available.
|
X | ||||||||||
- Definition Written Off Contract Acquisition Costs No definition available.
|
X | ||||||||||
- Definition Amount represents the write-off of deferred financing fees associated with the modification of debt. No definition available.
|
X | ||||||||||
- Definition Amount recognized for the passage of time, typically for liabilities, that have been discounted to their net present values. Excludes accretion associated with asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) from the difference between the sale price or salvage price and the book value of an asset that was sold or retired, and gain (loss) from the write down of assets from their carrying value to fair value. No definition available.
|
X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in receivables to be collected from the reporting entity's executives and owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in current receivables (due within one year or one operating cycle) to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) in current obligations (due within one year or one operating cycle) owed to an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) in current obligations (due within one year or one operating cycle) owed to reporting entity's executives and owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for acquisition of or capital improvements of property, plant and equipment, used to produce goods or deliver services, and not otherwise defined in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow from a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt and payment of capital lease obligations. No definition available.
|
X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash received on stock transaction after deduction of issuance costs. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
COMPANY INFORMATION |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
COMPANY INFORMATION |
Melco Crown Entertainment Limited (the “Company”) was incorporated in the Cayman Islands, with its ordinary shares listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) under the stock code of “6883” in the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”) and its American depository shares (“ADS”) listed on the NASDAQ Global Select Market under the symbol “MPEL” in the United States of America. On January 2, 2015, the Company submitted an application to the Hong Kong Stock Exchange for the voluntary withdrawal of the listing of its ordinary shares on the Main Board of Hong Kong Stock Exchange, further details please refer to Note 28(a). The Company together with its subsidiaries (collectively referred to as the “Group”) is a developer, owner and operator of casino gaming and entertainment resort facilities in Asia. The Group currently operates Altira Macau, a casino hotel located at Taipa, the Macau Special Administrative Region of the People’s Republic of China (“Macau”), City of Dreams, an integrated urban casino resort located at Cotai, Macau and Taipa Square Casino, a casino located at Taipa, Macau. The Group’s business also includes the Mocha Clubs, which comprise the non-casino based operations of electronic gaming machines in Macau. The Group is also developing Studio City, a cinematically-themed integrated entertainment, retail and gaming resort in Cotai, Macau. In the Philippines, Melco Crown (Philippines) Resorts Corporation (“MCP”), an indirect majority owned subsidiary of the Company whose common shares are listed on The Philippine Stock Exchange, Inc. under the stock code of “MCP”, through MCP’s subsidiary, MCE Leisure (Philippines) Corporation (“MCE Leisure”), currently operates and manages City of Dreams Manila, a casino, hotel, retail and entertainment integrated resort in the Entertainment City complex in Manila. City of Dreams Manila commenced operations on December 14, 2014, with a grand opening of the integrated resort on February 2, 2015. As of December 31, 2014 and 2013, the major shareholders of the Company are Melco International Development Limited (“Melco”), a company listed in Hong Kong, and Crown Resorts Limited (“Crown”), an Australian-listed corporation. |
X | ||||||||||
- Definition The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation.
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. These estimates and judgements are based on historical information, information that is currently available to the Group and on various other assumptions that the Group believes to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates.
Fair value is defined as the price that would be received to sell the asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The Group estimated the fair values using appropriate valuation methodologies and market information available as of the balance sheet date.
Cash and cash equivalents consist of cash on hand, demand deposits and highly liquid investments which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased. Cash and cash equivalents are placed with financial institutions with high-credit ratings and quality.
The current portion of restricted cash represents those cash deposited into bank accounts which are restricted as to withdrawal and use and the Group expects those fund will be released or utilized in accordance with the terms of the respective agreements within the next twelve months, while the non-current portion of restricted cash represents those fund that will not be released or utilized within the next twelve months. Restricted cash as of December 31, 2014 and 2013 comprises i) bank accounts that are restricted for withdrawal and for payment of Studio City project costs in accordance with the terms of the Studio City Notes and Studio City Project Facility as defined in Note 12 and other associated agreements; ii) a subsidiary’s Taiwan branch office’s deposit account in Taiwan which has been frozen by the Taiwanese authority since January 2013 in connection with an investigation related to certain alleged violations of Taiwan banking and foreign exchange laws by certain employees of the Taiwan branch office, with indictment received in August 2014 against the subsidiary’s Taiwan branch office and such employees, further information is included in Note 23(e); iii) cash in escrow account, which was setup in March 2013, that is restricted for payment of City of Dreams Manila project costs in accordance with the terms of the provisional license (the “Provisional License”) as disclosed in Note 22(a) issued by the Philippine Amusement and Gaming Corporation (“PAGCOR”); and iv) interest income earned on restricted cash balance which are restricted as to withdrawal and use.
Financial instruments that potentially subject the Group to concentrations of credit risk consist principally of casino receivables. The Group issues credit in the form of markers to approved casino customers following investigations of creditworthiness including to its gaming promoters in Macau, which receivable can be offset against commissions payable and any other value items held by the Group to the respective customer and for which the Group intends to set-off when required. As of December 31, 2014 and 2013, a substantial portion of the Group’s markers were due from customers residing in foreign countries. Business or economic conditions, the legal enforceability of gaming debts, or other significant events in foreign countries could affect the collectability of receivables from customers and gaming promoters residing in these countries. Accounts receivable, including casino, hotel and other receivables, are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems it is probable the receivable is uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful debts is maintained to reduce the Group’s receivables to their carrying amounts, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as management’s experience with collection trends in the casino industry and current economic and business conditions. Management believes that as of December 31, 2014 and 2013, no significant concentrations of credit risk existed for which an allowance had not already been recorded.
Inventories consist of retail merchandise, food and beverage items and certain operating supplies, which are stated at the lower of cost or market value. Cost is calculated using the first-in, first-out, average and specific identification methods. Write downs of potentially obsolete or slow-moving inventory are recorded based on management’s specific analysis of inventory.
Property and equipment are stated at cost less accumulated depreciation and amortization. Impairment losses and gains or losses on dispositions of property and equipment are included in operating income. Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. During the construction and development stage of the Group’s casino gaming and entertainment resort facilities, direct and incremental costs related to the design and construction, including costs under the construction contracts, duties and tariffs, equipment installation, shipping costs, payroll and payroll-benefit related costs, depreciation of plant and equipment used, applicable portions of interest and amortization of deferred financing costs, are capitalized in property and equipment. The capitalization of such costs begins when the construction and development of a project starts and ceases once the construction is substantially completed or development activity is suspended for more than a brief period. Depreciation and amortization expense related to capitalized construction costs and other property and equipment is recognized from the time each asset is placed in service. This may occur at different stages as casino gaming and entertainment resort facilities are completed and opened. Property and equipment and other long-lived assets with a finite useful life are depreciated and amortized on a straight-line basis over the asset’s estimated useful life. Estimated useful lives are as follows:
Interest and amortization of deferred financing costs incurred on funds used to construct the Group’s casino gaming and entertainment resort facilities during the active construction period are capitalized. Interest subject to capitalization primarily includes interest paid or payable on the Group’s long-term debt except for the Aircraft Term Loan as disclosed in Note 12, interest rate swap agreements, the land premium payables for the land use rights where City of Dreams and Studio City are located and the capital lease obligations. The capitalization of interest and amortization of deferred financing costs ceases once a project is substantially completed or development activity is suspended for more than a brief period. The amount to be capitalized is determined by applying the weighted average interest rate of the Group’s outstanding borrowings to the average amount of accumulated qualifying capital expenditures for assets under construction during the year and is added to the cost of the underlying assets and amortized over their respective useful lives. Total interest expenses incurred amounted to $220,974, $183,647 and $120,021, of which $96,884, $30,987 and $10,410 were capitalized for the years ended December 31, 2014, 2013 and 2012, respectively. No amortization of deferred financing costs were capitalized during the years ended December 31, 2014, 2013 and 2012.
The gaming subconcession is capitalized based on the fair value of the gaming subconcession agreement as of the date of acquisition of Melco Crown (Macau) Limited (“Melco Crown Macau”), an indirect subsidiary of the Company and the holder of the gaming subconcession in Macau, in 2006, and amortized using the straight-line method over the term of agreement which is due to expire in June 2022.
Goodwill represents the excess of acquisition cost over the fair value of tangible and identifiable intangible net assets of any business acquired. Goodwill is not amortized, but is tested for impairment at the reporting unit level on an annual basis, and between annual tests when circumstances indicate that the carrying value of goodwill may not be recoverable. An impairment loss is recognized in an amount equal to the excess of the carrying amount over the implied fair value. Intangible assets other than goodwill are amortized over their useful lives unless their lives are determined to be indefinite in which case they are not amortized. Intangible assets are carried at cost, less accumulated amortization. The Group’s finite-lived intangible asset consists of the gaming subconcession. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives. The Group’s intangible assets with indefinite lives represent Mocha Clubs trademarks, which are tested for impairment on an annual basis or when circumstances indicate that the carrying value of the intangible assets may not be recoverable.
The Group evaluates the recoverability of long-lived assets with finite lives based on its classification as a) held for sale or b) to be held and used. Several criteria must be met before an asset is classified as held for sale, including that management with the appropriate authority commits to a plan to sell the asset at a reasonable price in relation to its fair value and is actively seeking a buyer. For assets held for sale, the Group recognizes the assets at the lower of carrying value or fair market value less costs to sell, as estimated based on comparable asset sales, offers received, or a discounted cash flow model. For assets to be held and used, the Group evaluates their recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds its fair value. During the year ended December 31, 2014, an impairment loss of $4,146 was recognized mainly due to reconfiguration of the entertainment area at City of Dreams and renovation of the casinos at City of Dreams and Altira Macau and the amount were included in the consolidated statements of operations. No impairment losses were recognized during the years ended December 31, 2013 and 2012.
Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized over the terms of the related debt agreements using the effective interest method. Amortization expense of approximately $28,055, $18,159 and $13,272 were recorded during the years ended December 31, 2014, 2013 and 2012, respectively.
Land use rights are recorded at cost less accumulated amortization. Amortization is provided over the estimated lease term of the land on a straight-line basis.
The Group recognizes revenue at the time persuasive evidence of an arrangement exists, the service is provided or the retail goods are sold, prices are fixed or determinable and collection is reasonably assured. Casino revenues are measured by the aggregate net difference between gaming wins and losses less accruals for the anticipated payouts of progressive slot jackpots, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers’ possession. The Group follows the accounting standards for reporting revenue gross as a principal versus net as an agent, when accounting for operations of Grand Hyatt Macau hotel, Hyatt City of Dreams Manila hotel (collectively the “Hyatt Hotels”) and Taipa Square Casino. For the operations of the Hyatt Hotels, the Group is the owner of the hotels property, and the hotel managers operate the hotels under management agreements providing management services to the Group, and the Group receives all rewards and takes substantial risks associated with the hotels business, it is the principal and the transactions of the Hyatt Hotels are therefore recognized on a gross basis. For the operations of Taipa Square Casino, given the Group operates the casino under a right to use agreement with the owner of the casino premises and has full responsibility for the casino operations in accordance with its gaming subconcession, it is the principal and casino revenue is therefore recognized on a gross basis. Rooms, food and beverage, entertainment, retail and other revenues are recognized when services are performed. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer. Minimum operating and right to use fee, adjusted for contractual base fee and operating fee escalations, are included in entertainment, retail and other revenues and are recognized on a straight-line basis over the terms of the related agreement. Revenues are recognized net of certain sales incentives which are required to be recorded as a reduction of revenue; consequently, the Group’s casino revenues are reduced by discounts, commissions and points earned in customer loyalty programs, such as the player’s club loyalty program. The retail value of rooms, food and beverage, entertainment, retail and other services furnished to guests without charge is included in gross revenues and then deducted as promotional allowances. The estimated cost of providing such promotional allowances for the years ended December 31, 2014, 2013 and 2012 is reclassified from rooms costs, food and beverage costs, entertainment, retail and other services costs and is included in casino expenses as follows:
The Group operates different loyalty programs in certain of its properties to encourage repeat business mainly from loyal slot machine customers and table games patrons. Members earn points primarily based on gaming activity and such points can be redeemed for free play and other free goods and services. The Group accrues for loyalty program points expected to be redeemed for cash and free play as a reduction to gaming revenue and accrues for loyalty program points expected to be redeemed for free goods and services as casino expense. The accruals are based on management’s estimates and assumptions regarding the redemption value, age and history with expiration of unused points resulting in a reduction of the accruals.
The Group is subject to taxes based on gross gaming revenue and other metrics in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are determined mainly from an assessment of the Group’s gaming revenue and are recorded as an expense within the “Casino” line item in the consolidated statements of operations. These taxes totaled $2,275,610, $2,479,958 and $2,024,697 for the years ended December 31, 2014, 2013 and 2012, respectively.
Pre-opening costs, consist primarily of marketing expenses and other expenses related to new or start-up operations and are expensed as incurred. The Group has incurred pre-opening costs primarily in connection with City of Dreams Manila and Studio City since December 2012 and July 2011, respectively. The Group also incurs pre-opening costs on other one-off activities related to the marketing of new facilities and operations.
Development costs include costs associated with the Group’s evaluation and pursuit of new business opportunities, which are expensed as incurred.
The Group expenses all advertising and promotional expenses as incurred or the first time the advertising takes place. Advertising and promotional expenses included in the accompanying consolidated statements of operations were $47,906, $43,403 and $40,854 for the years ended December 31, 2014, 2013 and 2012, respectively.
All transactions in currencies other than functional currencies of the Company during the year are remeasured at the exchange rates prevailing on the respective transaction dates. Monetary assets and liabilities existing at the balance sheet date denominated in currencies other than functional currencies are remeasured at the exchange rates existing on that date. Exchange differences are recorded in the consolidated statements of operations. The functional currencies of the Company and its major subsidiaries are the United States dollar (“$” or “US$”), the Hong Kong dollar (“HK$”), the Macau Pataca (“MOP”) or the Philippine Peso (“PHP”), respectively. All assets and liabilities are translated at the rates of exchange prevailing at the balance sheet date and all income and expense items are translated at the average rates of exchange over the year. All exchange differences arising from the translation of subsidiaries’ financial statements are recorded as a component of comprehensive income (loss).
The Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award and recognizes that cost over the service period. Compensation is attributed to the periods of associated service and such expense is being recognized on a straight-line basis over the vesting period of the awards. Forfeitures are estimated at the time of grant and actual forfeitures are recognized currently to the extent they differ from the estimate. Further information on the Group’s share-based compensation arrangements is included in Note 18.
The Group is subject to income taxes in Hong Kong, Macau, the United States of America, the Philippines and other jurisdictions where it operates. Deferred income taxes are recognized for all significant temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The Group’s income tax returns are subject to examination by tax authorities in the jurisdictions where it operates. The Group assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. These accounting standards utilize a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely, based solely on the technical merits, of being sustained on examinations.
Basic net income attributable to Melco Crown Entertainment Limited per share is calculated by dividing the net income attributable to Melco Crown Entertainment Limited by the weighted average number of ordinary shares outstanding during the year. Diluted net income attributable to Melco Crown Entertainment Limited per share is calculated by dividing the net income attributable to Melco Crown Entertainment Limited by the weighted average number of ordinary shares outstanding during the year adjusted to include the potentially dilutive effect of outstanding share-based awards. The weighted average number of ordinary and ordinary equivalent shares used in the calculation of basic and diluted net income attributable to Melco Crown Entertainment Limited per share consisted of the following:
During the years ended December 31, 2014, 2013 and 2012, 2,519,037, nil and 1,901,136 outstanding share options, and 701,681, nil and nil outstanding restricted shares as at December 31, 2014, 2013 and 2012, respectively, were excluded from the computation of diluted net income attributable to Melco Crown Entertainment Limited per share as their effect would have been anti-dilutive.
The Group uses derivative financial instruments such as floating-for-fixed interest rate swap agreements with interest rate fluctuations in accordance with lenders’ requirements under the Group’s Studio City Project Facility and City of Dreams Project Facility (as defined in Note 12), and forward exchange rate contracts to manage its risks associated exchange rate fluctuations for the interest payments of the RMB Bonds (as defined in Note 12). All derivative instruments are recognized in the consolidated financial statements at fair value at the balance sheet date. Any changes in fair value are recorded in the consolidated statements of operations or accumulated other comprehensive income, depending on whether the derivative is designated and qualifies for hedge accounting, the type of hedge transaction and the effectiveness of the hedge. The estimated fair values of interest rate swap agreements and forward exchange rate contracts are based on a standard valuation model that projects future cash flows and discounts those future cash flows to a present value using market-based observable inputs such as interest rate yields and market forward exchange rates. The Group’s outstanding interest rate swap agreements as of December 31, 2014 are disclosed in Note 11. Further information on the Group’s interest rate swap agreements and forward exchange rate contracts are included in Note 12.
Comprehensive income includes net income, foreign currency translation adjustments, change in fair value of interest rate swap agreements and forward exchange rate contracts and reclassification to earnings upon settlement of forward exchange rate contracts and is reported in the consolidated statements of comprehensive income. As of December 31, 2014 and 2013, the Group’s accumulated other comprehensive losses consisted of the following:
Newly Adopted Accounting Pronouncements:
Recent Accounting Pronouncements Not Yet Adopted:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity. No definition available.
|
ACCOUNTS RECEIVABLE, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACCOUNTS RECEIVABLE, NET |
Components of accounts receivable, net are as follows:
During the years ended December 31, 2014, 2013 and 2012, the Group has provided allowance for doubtful debts, net of recoveries of $29,979, $43,750 and $26,566 and has directly written off accounts receivable of $7,690, $549 and $1,850, respectively. Movement of allowance for doubtful debts are as follows:
The Group grants unsecured credit lines to gaming promoters based on pre-approved credit limits. The Group typically issues markers to gaming promoters with a credit period of 30 days. There are some gaming promoters for whom credit is granted on a revolving basis based on the Group’s monthly credit risk assessment of such gaming promoters. Credit lines granted to all gaming promoters are subject to monthly review and various settlement procedures. For other approved casino customers, the Group typically allows a credit period of 14 days to 28 days on issuance of markers following investigations of creditworthiness. An extended repayment term of typically 90 days may be offered to casino customers with large gaming losses and established credit history. The following is an analysis of accounts receivable by age presented based on payment due date, net of allowance:
|
X | ||||||||||
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
ASSETS HELD FOR SALE |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Discontinued Operations and Disposal Groups [Abstract] | |||
ASSETS HELD FOR SALE |
On February 18, 2014, the Group completed the sale of its properties in Macau pursuant to a promissory agreement dated November 20, 2013 signed with a third party. Total consideration amounted to HK$240,000,000 (equivalent to $30,848) which include a cash deposit of HK$10,000,000 (equivalent to $1,285) received by the Group on the date of signing the promissory agreement. During the year ended December 31, 2014, the Group recognized a gain on disposal of assets held for sale of $22,072. As of December 31, 2013, the total net carrying value of the properties held for sale amounted to $8,468. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
PROPERTY AND EQUIPMENT, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY AND EQUIPMENT, NET |
As of December 31, 2014 and 2013, construction in progress in relation to City of Dreams, Studio City and City of Dreams Manila included interest capitalized in accordance with applicable accounting standards and other direct incidental costs capitalized (representing insurance, salaries and wages and certain other professional charges incurred) which, in the aggregate, amounted to $219,141 and $102,246, respectively. During the years ended December 31, 2014, 2013 and 2012, additions to property and equipment amounted to $1,637,305, $912,355 and $283,998, respectively and disposals of property and equipment at carrying amount were $5,667, $2,822 and $1,310, respectively. The cost and accumulated depreciation and amortization of property and equipment held under capital lease arrangements was $265,781 and $711, respectively, as of December 31, 2014. The cost and accumulated depreciation and amortization of property and equipment held under capital lease arrangements was $266,540 and $115, respectively, as of December 31, 2013. Further information of the lease arrangement is included in Note 13. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
GAMING SUBCONCESSION, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GAMING SUBCONCESSION, NET |
The deemed cost was determined based on the estimated fair value of the gaming subconcession contributed by a shareholder of the Company in 2006. The gaming subconcession is amortized on a straight-line basis over the term of the gaming subconcession agreement which expires in June 2022. The Group expects that amortization of the gaming subconcession will be approximately $57,237 each year from 2015 through 2021, and approximately $27,135 in 2022. |
X | ||||||||||
- Definition The note disclosure of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. No definition available.
|
X | ||||||||||
- References No definition available.
|
GOODWILL AND INTANGIBLE ASSETS, NET |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Text Block [Abstract] | |||
GOODWILL AND INTANGIBLE ASSETS, NET |
Goodwill relating to Mocha Clubs and other intangible assets with indefinite useful lives, representing trademarks of Mocha Clubs, are not amortized. Goodwill and intangible assets arose from the acquisition of Mocha Slot Group Limited and its subsidiaries by the Group in 2006. To assess potential impairment of goodwill, the Group performs an assessment of the carrying value of the reporting units at least on an annual basis or when events occur or circumstances change that would more likely than not reduce the estimated fair value of those reporting units below their carrying value. If the carrying value of a reporting unit exceeds its fair value, the Group would perform the second step in its assessment process and record an impairment loss to earnings to the extent the carrying amount of the reporting unit’s goodwill exceeds its implied fair value. The Group estimates the fair value of those reporting units through internal analysis and external valuations, which utilize income and market valuation approaches through the application of capitalized earnings and discounted cash flow methods. These valuation techniques are based on a number of estimates and assumptions, including the projected future operating results of the reporting unit, discount rates, long-term growth rates and market comparable.
Trademarks of Mocha Clubs are tested for impairment at least annually or when events occur or circumstances change that would more likely than not reduce the estimated fair value of trademarks below its carrying value using the relief-from-royalty method. Under this method, the Group estimates the fair value of the trademarks through internal and external valuations, mainly based on the incremental after-tax cash flow representing the royalties that the Group is relieved from paying given it is the owner of the trademarks. These valuation techniques are based on a number of estimates and assumptions, including the projected future revenues of the trademarks calculated using an appropriate royalty rate, discount rate and long-term growth rates. The Group has performed annual tests for impairment of goodwill and trademarks in accordance with the accounting standards regarding goodwill and other intangible assets. No impairment loss has been recognized during the years ended December 31, 2014, 2013 and 2012. |
X | ||||||||||
- Definition The note disclosure for goodwill which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions, and note disclosure for intangible assets, excluding goodwill, having a projected indefinite period of benefit. No definition available.
|
X | ||||||||||
- References No definition available.
|
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS |
Long-term prepayments, deposits and other assets consisted of the following:
Entertainment production costs represent amounts incurred and capitalized for entertainment shows in City of Dreams. The Group amortized the entertainment production costs over 10 years or the respective useful life of the entertainment show, whichever is shorter. Deferred financing costs, net represent unamortized debt issuance costs related to the Group’s revolving credit facilities. Advance payments for construction costs are connected with the construction and fit-out cost for City of Dreams, Studio City and City of Dreams Manila. Input value-added tax, net represents the value-added tax recoverable from the tax authority in the Philippines mainly connected with the purchase of assets or services for City of Dreams Manila. Long-term receivables, net represent casino receivables from casino customers where settlement is not expected within the next year. Aging of such balances are all over 90 days and include allowance for doubtful debts of $24,848 and $20,321 as of December 31, 2014 and 2013, respectively. During the years ended December 31, 2014 and 2013, net amount of current accounts receivable of $8,642 and $17,691 and net amount of allowance for doubtful debts of $4,527 and $13,680, respectively, were reclassified to non-current. During the year ended December 31, 2012, net amount of long-term receivables of $401 was reclassified to current; and net amount of allowance for doubtful debts of $77 was reclassified to non-current. Reclassifications to current accounts receivable, net, are made when conditions support that it is probable for settlement of such balances to occur within one year. |
X | ||||||||||
- Definition The note disclosure of carrying amount as of the balance sheet date of amounts paid in advance which will be charged against earnings in periods after one year or beyond the operating cycle, if longer; deposits transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer; and aggregate carrying amount of other noncurrent assets not separately disclosed in the balance sheet that are expected to be realized or consumed after one year (or the normal operating cycle, if longer). No definition available.
|
X | ||||||||||
- References No definition available.
|
LAND USE RIGHTS, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LAND USE RIGHTS, NET |
Land use rights are recorded at cost less accumulated amortization. Amortization is provided over the estimated lease term of the land on a straight-line basis. The expiry dates of the leases of the land use rights of Altira Macau, City of Dreams and Studio City are March 2031, August 2033 and October 2026, respectively. In January 2013, the Group recognized an additional land premium of approximately $2,449 for Taipa Land upon Altira Developments Limited’s (“Altira Developments”), an indirect subsidiary of the Company, acceptance of the initial terms for the revision of the land concession contract issued by the Macau Government further to an amendment request applied by Altira Developments in 2012 for an increase of the total gross floor area, to reflect the construction plans approved by the Macau Government and to enable the final registration of the Taipa Land. In June 2013, the Macau Government issued the final amendment proposal for the revision of the land concession contract for Taipa Land. On July 15, 2013, Altira Developments paid the additional land premium of approximately $2,449 set forth in the final amendment proposal, and accepted the terms of such proposal on July 16, 2013. The land grant amendment process was completed with the publication in the Macau official gazette of such revision on December 18, 2013. Further details on the revised land amendment for Taipa Land is disclosed in Note 23(c). In March 2013, the Group recognized an additional land premium of approximately $23,344 for Cotai Land upon Melco Crown (COD) Developments Limited’s (“Melco Crown (COD) Developments”), an indirect subsidiary of the Company and Melco Crown Macau’s acceptance of the land grant amendment proposal for the land concession contract of the Cotai Land, issued by the Macau Government in February 2013 further to an amendment request applied by Melco Crown (COD) Developments in 2011. Such amendment proposal contemplated the development of an additional five-star hotel area in replacement of the four-star apartment hotel area included in such land grant, and the extension of the development period of the City of Dreams land grant until the date falling four years after publication of the amendment in the Macau official gazette. In October 2013, the Macau Government issued the final amendment proposal for the revision of the land concession contract for Cotai Land. On October 16, 2013, Melco Crown (COD) Developments paid a portion of the additional land premium of approximately $8,736 set forth in the final amendment proposal, and on October 17, 2013, Melco Crown (COD) Developments and Melco Crown Macau accepted the terms of such proposal. The land grant amendment process for Cotai Land was completed following the publication in the Macau official gazette of such revision on January 29, 2014. Further details on the final land amendment for Cotai Land is disclosed in Note 23(c). The Studio City Land was acquired upon acquisition of assets and liabilities in July 2011. The cost of Studio City Land was recognized in accordance with proposed amendment terms of the land concession contract issued by the Macau Government and accepted by Studio City Developments Limited (“Studio City Developments”), an indirect subsidiary of the Company, in November 2006. In June 2012, the Group recognized an additional land premium upon Studio City Developments’ acceptance of the final amendment proposal issued by the Macau Government, which was completed with the publication in the Macau official gazette of such proposed amendment on July 25, 2012. Such amendment reflected an increase in the gross floor area for construction and the extension of the development period to 72 months from the date of publication of such amendment contract. Further details on the final land amendment for Studio City Land is disclosed in Note 23(c). |
X | ||||||||||
- Definition The note disclosure of carrying amounts as of the balance sheet date of amounts paid or payable for the use of land that is expected to provide economic benefit for more than one year. No definition available.
|
X | ||||||||||
- References No definition available.
|
ACCOUNTS PAYABLE |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACCOUNTS PAYABLE |
The following is an aged analysis of accounts payable presented based on payment due date:
|
X | ||||||||||
- Definition Accounts Payable Disclosure [Text Block] No definition available.
|
X | ||||||||||
- References No definition available.
|
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payables and Accruals [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES |
In connection with Studio City Project Facility (as defined in Note 12), Studio City Company Limited (“Studio City Company”), an indirect subsidiary which the Company holds 60% interest, entered into certain floating-for-fixed interest rate swap agreements in September 2014 that will expire in March 2015 to limit its exposure to interest rate risk. Under the interest rate swap agreements, Studio City Company pays a fixed interest rate of 0.28% per annum of the notional amount, and receives variable interest which is based on the applicable Hong Kong Interbank Offered Rate (“HIBOR”) for each of the payment dates. All these interest rate swap agreements will expire in March 2015. As of December 31, 2014, the notional amounts of the outstanding interest rate swap agreements amounted to HK$1,867,199,900 (equivalent to $240,000). These interest rate swap agreements are expected to remain highly effective in fixing the interest rate and qualify for cash flow hedge accounting. Therefore, there is no impact on the consolidated statements of operations from changes in the fair value of the hedging instruments. Instead the fair value of the instruments are recorded as assets or liabilities on the consolidated balance sheets, with an offsetting adjustment to the accumulated other comprehensive losses until the hedged interest expenses are recognized in the consolidated statements of operations. As of December 31, 2014, the interest rate swap liabilities of $19 represented the fair values of the interest rate swap agreements. |
X | ||||||||||
- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. No definition available.
|
X | ||||||||||
- References No definition available.
|
LONG-TERM DEBT, NET |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LONG-TERM DEBT, NET |
Long-term debt, net consisted of the following:
2011 Credit Facilities On June 22, 2011, Melco Crown Macau (the “Borrower”) entered into an amendment agreement (the “2011 Credit Facilities”) with certain lenders in respect of a senior secured credit facility (the “City of Dreams Project Facility”), which was entered on September 5, 2007 and which was subsequently amended from time to time, in an aggregate amount of $1,750,000 to fund the City of Dreams project, construction of an integrated entertainment resort complex in Macau. The City of Dreams Project Facility consisted of a $1,500,000 term loan facility (the “Term Loan Facility”) and a $250,000 revolving credit facility (the “Revolving Credit Facility”).
On June 30, 2011, the 2011 Credit Facilities, which was subsequently amended from time to time, became effective and among other things: (i) reduced the Term Loan Facility to HK$6,241,440,000 (equivalent to $802,241) (the “2011 Term Loan Facility”) and increased the Revolving Credit Facility to HK$3,120,720,000 (equivalent to $401,121) (the “2011 Revolving Credit Facility”), both of which are denominated in Hong Kong dollars; (ii) introduced new lenders and removed certain lenders originally under the City of Dreams Project Facility; (iii) extended the repayment maturity date; (iv) reduced and removed certain restrictions imposed by the covenants in the City of Dreams Project Facility; and (v) removed MPEL (Delaware) LLC, a wholly-owned subsidiary of the Borrower which was subsequently dissolved on May 31, 2012, from the borrowing group which included the Borrower and certain of its subsidiaries as defined under the City of Dreams Project Facility (the “2011 Borrowing Group”). The final maturity date of the 2011 Credit Facilities is June 30, 2016. The 2011 Term Loan Facility is repayable in quarterly instalments according to an amortization schedule which commenced on September 30, 2013. Each loan made under the 2011 Revolving Credit Facility is repayable in full on the last day of an agreed upon interest period in respect of the loan, generally ranging from one to six months, or rolling over subject to compliance with certain covenants and satisfaction of conditions precedent. The Borrower may make voluntary prepayments in respect of the 2011 Credit Facilities in a minimum amount of HK$160,000,000 (equivalent to $20,566), plus the amount of any applicable break costs. The Borrower is also subject to mandatory prepayment requirements in respect of various amounts within the 2011 Borrowing Group, including but not limited to: (i) the net proceeds received by any member of the 2011 Borrowing Group in respect of the compulsory transfer, seizure or acquisition by any governmental authority of the assets of any member of the 2011 Borrowing Group (subject to certain exceptions); (ii) the net proceeds of certain asset sales, subject to reinvestment rights and certain exceptions, which are in excess of $15,000; (iii) net termination, claim or settlement proceeds paid under the Borrower’s subconcession or the 2011 Borrowing Group’s land concessions, subject to certain exceptions; (iv) insurance proceeds net of expenses to obtain such proceeds under the property insurances relating to the total loss of all or substantially all of the Altira Macau gaming business; and (v) other insurance proceeds net of expenses to obtain such proceeds under any property insurances, subject to reinvestment rights and certain exceptions, which are in excess of $15,000. Drawdowns on the 2011 Term Loan Facility were subject to satisfaction of conditions precedent specified in the 2011 Credit Facilities and the 2011 Revolving Credit Facility is to be made available on a fully revolving basis to the date that is one month prior to the 2011 Revolving Credit Facility’s final maturity date. The indebtedness under the 2011 Credit Facilities is guaranteed by the 2011 Borrowing Group. Security for the 2011 Credit Facilities included: a first priority mortgage over all land where Altira Macau and City of Dreams are located, such mortgages also cover all present and any future buildings on, and fixtures to, the relevant land; an assignment of any land use rights under land concession agreements, leases or equivalents; charges over the bank accounts in respect of the 2011 Borrowing Group, subject to certain exceptions; assignment of the rights under certain insurance policies; first priority security over the chattels, receivables and other assets of the 2011 Borrowing Group which are not subject to any security under any other security documentation; first priority charges over the issued share capital of the 2011 Borrowing Group and equipment and tools used in the gaming business by the 2011 Borrowing Group; as well as other customary security. The 2011 Credit Facilities also contain certain covenants customary for such financings including, but not limited to: limitations on (i) incurring additional liens; (ii) incurring additional indebtedness (including guarantees); (iii) making certain investments; (iv) paying dividends and other restricted payments; (v) creating any subsidiaries; (vi) selling assets; and (vii) entering into any contracts for the construction or financing of an additional hotel tower in connection with the development of City of Dreams except with plans approved by the lenders in accordance with the terms of the 2011 Credit Facilities. The 2011 Credit Facilities removed the financial covenants under the City of Dreams Project Facility, and replaced them with, without limitation, a leverage ratio, total leverage ratio and interest cover ratio. The first test date of the financial covenants was September 30, 2011. As of December 31, 2014, management believes that the 2011 Borrowing Group was in compliance with each of the financial restrictions and requirements. There are provisions that limit or prohibit certain payments of dividends and other distributions by the 2011 Borrowing Group to the Company or persons who are not members of the 2011 Borrowing Group (described in further detail in Note 20). As of December 31, 2014 and 2013, the net assets of the 2011 Borrowing Group of approximately $3,559,000 and $3,220,000, respectively, were restricted from being distributed under the terms of the 2011 Credit Facilities. Borrowings under the 2011 Credit Facilities bear interest at HIBOR plus a margin ranging from 1.75% to 2.75% per annum as adjusted in accordance with the leverage ratio in respect of the 2011 Borrowing Group. The Borrower may select an interest period for borrowings under the 2011 Credit Facilities of one, two, three or six months or any other agreed period. The Borrower is obligated to pay a commitment fee quarterly in arrears from June 30, 2011 on the undrawn amount of the 2011 Revolving Credit Facility throughout the availability period. Loan commitment fees on the 2011 Credit Facilities amounting to $2,808, $2,453 and $1,324 were recognized during the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, the 2011 Term Loan Facility has been fully drawn down. During the years ended December 31, 2014 and 2013, the Group repaid HK$1,997,260,800 (equivalent to $256,717) and HK$998,630,400 (equivalent to $128,358), respectively, under the 2011 Term Loan Facility according to the quarterly amortization schedule which commenced on September 30, 2013. The Group repaid HK$1,653,154,570 (equivalent to $212,488) during the year ended December 31, 2013, and accordingly, the entire 2011 Revolving Credit Facility of HK$3,120,720,000 (equivalent to $401,121) remains available for future drawdown as of December 31, 2014 and 2013. As of December 31, 2014 and 2013, the Group had total outstanding borrowings of HK$3,245,548,000 (equivalent to $417,166) and HK$5,242,809,600 (equivalent to $673,883), respectively, under the 2011 Credit Facilities. During the year ended December 31, 2012, certain floating-for-fixed interest rate swap agreements entered by Melco Crown Macau during the year 2009 to limit the exposure to interest rate risk in connection with the City of Dreams Project Facility expired. Under the interest rate swap agreements, Melco Crown Macau paid a fixed interest rate ranging from 1.96% to 1.98% per annum of the notional amount, and received variable interest which was based on the applicable HIBOR for each of the payment dates. Immediately after the amendment of the City of Dreams Project Facility on June 30, 2011, the interest rate swap agreements no longer qualified for hedge accounting and subsequent changes in fair value of the interest rate swap agreements were recognized in the consolidated statements of operations during the year ended December 31, 2012. 2010 Senior Notes On May 17, 2010, MCE Finance Limited (“MCE Finance”), a wholly-owned subsidiary of the Company, issued and listed the $600,000 10.25% senior notes, due 2018 (the “2010 Senior Notes”) on the Official List of Singapore Exchange Securities Trading Limited (“SGX-ST”). The purchase price paid by the initial purchasers was 98.671% of the principal amount. The 2010 Senior Notes were general obligations of MCE Finance, secured by a first-priority pledge of the intercompany note (the “Intercompany Note”) representing the on-lending of the gross proceeds from the issuance of the 2010 Senior Notes by MCE Finance to an indirect subsidiary of MCE Finance to reduce the indebtedness under the City of Dreams Project Facility, ranked equally in right of payment to all existing and future senior indebtedness of MCE Finance and ranked senior in right of payment to any existing and future subordinated indebtedness of MCE Finance. The 2010 Senior Notes would have matured on May 15, 2018. Interest on the 2010 Senior Notes was accrued at a rate of 10.25% per annum and was payable semi-annually in arrears on May 15 and November 15 of each year, commenced on November 15, 2010. MCE Finance had the option to redeem all or part of the 2010 Senior Notes at any time prior to May 15, 2014, at a “make-whole” redemption price. Thereafter, MCE Finance had the option to redeem all or a portion of the 2010 Senior Notes at any time at fixed redemption prices that declined ratably over time. Prior to May 15, 2013, MCE Finance had the option to redeem up to 35% of the 2010 Senior Notes with the net cash proceeds from one or more certain equity offerings at a fixed redemption price. In addition, under certain circumstances and subject to certain exceptions as more fully described in the indenture, MCE Finance also had the option to redeem in whole, but not in part of the 2010 Senior Notes at fixed redemption prices. The indenture governing the 2010 Senior Notes contained certain covenants that, subject to certain exceptions and conditions, limited the ability of MCE Finance and its restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (vii) enter into transactions with shareholders or affiliates; and (viii) effect a consolidation or merger. There were provisions under the indenture of the 2010 Senior Notes that limited or prohibited certain payments of dividends and other distributions by MCE Finance and its respective restricted subsidiaries to the Company or persons who were not MCE Finance or members of MCE Finance respective restricted subsidiaries, subject to certain exceptions and conditions (described in further detail in Note 20). On October 30, 2012, MCE Finance received unrevoked consents from the holders (the “Holders”) of the requisite aggregate principal amount of the 2010 Senior Notes necessary to approve certain proposed amendments to, among other things, allowed MCE Finance to (i) make an additional $400,000 of restricted payments to fund the Studio City project and (ii) have the flexibility to transact with, and use any revenues or other payments generated or derived from, certain projects and to provide for certain other technical amendments (the “Proposed Amendments”) to the indenture governing the 2010 Senior Notes and executed a supplemental indenture to give effect to the Proposed Amendments. The Group capitalized the payments to the agent and Holders who had validly delivered a consent to the Proposed Amendments totaling $14,795 as deferred financing costs and expensed the third party fee of $3,277 as a result of the aforementioned debt modification. On January 28, 2013, MCE Finance made a cash tender offer to repurchase the 2010 Senior Notes at a cash consideration plus accrued interest and also solicited consents to amend the terms of the 2010 Senior Notes to substantially remove the debt incurrence, restricted payment and other restrictive covenants (the “Tender Offer”). Closing of the Tender Offer and consent solicitation were conditioned upon MCE Finance receiving net proceeds from offering of the 2013 Senior Notes (as described below) in an amount sufficient to repurchase the tendered 2010 Senior Notes and related fees and expenses and other general conditions. The Tender Offer expired on February 26, 2013 and $599,135 aggregate principal amount of the 2010 Senior Notes were tendered. On February 27, 2013, MCE Finance elected to redeem the remaining outstanding 2010 Senior Notes in aggregate principal amount of $865 on March 28, 2013, at a price equal to 100% of the principal amount outstanding plus applicable premium as of, and accrued and unpaid interest to March 28, 2013. The accounting for the total redemption costs of $102,497, unamortized deferred financing costs of $23,793 and unamortized issue discount of $5,962 in relation to the 2010 Senior Notes as of the redemption date are disclosed as below under the 2013 Senior Notes. RMB Bonds On May 9, 2011, the Company issued and listed the Renminbi (“RMB”) 2,300,000,000 3.75% bonds due 2013 (the “RMB Bonds”) (equivalent to $353,278 based on exchange rate on transaction date) on SGX-ST. The RMB Bonds were priced at 100% at par. The RMB Bonds were direct, general, unconditional, unsubordinated and unsecured obligations of the Company, which at all times ranked equally without any preference or priority among themselves and at least equally with all of the Company’s other present and future unsecured and unsubordinated obligations, save for such obligations as may be preferred by provisions of law that were both mandatory and of general application. The RMB Bonds would have matured on May 9, 2013 and the interest on the RMB Bonds was accrued at a rate of 3.75% per annum and was payable semi-annually in arrears on May 9 and November 9 of each year, commenced on November 9, 2011. The Company had the option to redeem in whole, but not in part under certain circumstances as defined in the indenture, the RMB Bonds at any time prior to May 9, 2012 at an additional redemption price. Thereafter, the Company had the option to redeem in whole, but not in part, the RMB Bonds at any time after May 9, 2012 at a fixed redemption price. The indenture governing the RMB Bonds contained certain negative pledge and financial covenants, providing that the Company should not create or permit to subsist any security interest upon the whole or any part of the Company’s present or future undertaking, assets or revenues to secure any relevant indebtedness or guarantee of relevant indebtedness without: (i) at the same time or prior thereto securing the RMB Bonds equally and rateably therewith to the satisfaction of the trustee under the RMB Bonds; or (ii) providing such other security for the RMB Bonds as the trustee may in its absolute discretion consider to be not materially less beneficial to the interests of the holders of the RMB Bonds or as may be approved by an extraordinary resolution of bondholders. In addition, the Company was also required to comply with certain financial covenants, including maintaining a specified consolidated tangible net worth and a leverage ratio. On March 11, 2013, the Company early redeemed the RMB Bonds in full in aggregate principal amount of RMB2,300,000,000 (equivalent to $368,177) together with accrued interest, which was partially funded from net proceeds from offering of the 2013 Senior Notes (described below). The Group wrote off the unamortized deferred financing costs of $586 immediately before redemption of the RMB Bonds as loss on extinguishment of debt in the consolidated statements of operations for the year ended December 31, 2013. Deposit-Linked Loan On May 20, 2011, the Company entered into a Hong Kong dollar deposit-linked loan facility (the “Deposit-Linked Loan”) with a lender in an amount of HK$2,748,500,000 (equivalent to $353,278 based on exchange rate on transaction date), which was secured by a deposit in an amount of RMB2,300,000,000 (equivalent to $353,278 based on exchange rate on transaction date) from the proceeds of the RMB Bonds as described above. The Deposit-Linked Loan would have matured on May 20, 2013 or, if earlier, at any time with 30 days’ prior notice given to the lender, the Company may prepay the whole or any part of not less than HK$500,000,000 (equivalent to $64,267) of the Deposit-Linked Loan outstanding. The Deposit-Linked Loan bore interest at a rate of 2.88% per annum and was payable semi-annually in arrears on May 8 and November 8 of each year, commenced on November 8, 2011. On the same date, the Company entered into two RMB forward exchange rate contracts in an aggregate amount of RMB52,325,000 (approximately $8,000) for settlement of the RMB Bonds interest payable at fixed exchange rates on November 9, 2011 and May 9, 2012, respectively, and during the year ended December 31, 2012, the Company entered into another RMB forward exchange rate contract of RMB25,845,867 (approximately $4,000) for settlement of the RMB Bonds interest payable at fixed exchange rate on November 9, 2012. During the year ended December 31, 2012, the Company settled the outstanding forward exchange rate contracts and the gain on the forward exchange rate contracts of $138 was reclassified from accumulated other comprehensive losses to interest expenses. On March 4, 2013, the Company prepaid in full the Deposit-Linked Loan in aggregate principal amount of HK$2,748,500,000 (equivalent to $353,278) with accrued interest and a deposit in an amount of RMB2,300,000,000 (equivalent to $368,177) from the proceeds of the RMB Bonds, for security of the Deposit-Linked Loan, was released on the same date. Aircraft Term Loan On June 25, 2012, MCE Transportation Limited (“MCE Transportation”), an indirect subsidiary of the Company, entered into a $43,000 term loan facility agreement to partly finance the acquisition of an aircraft (the “Aircraft Term Loan”). Principal and interest repayments are payable quarterly in arrears commenced on September 27, 2012 until maturity on June 27, 2019, interest is calculated based on London Interbank Offered Rate plus a margin of 2.80% per annum and the loan may be prepaid in whole or in part of not less than $1,000 and 10 days’ prior notice given. The Aircraft Term Loan is guaranteed by the Company and security includes a first-priority mortgage on the aircraft itself; pledge over the MCE Transportation bank accounts; assignment of insurances (other than third party liability insurance); and an assignment of airframe and engine warranties. The Aircraft Term Loan must be prepaid in full if any of the following events occurs: (i) a change of control; (ii) the sale of all or substantially all of the components of the aircraft; (iii) the loss, damage or destruction of the entire or substantially the entire aircraft. Other covenants include lender’s approval for any capital expenditure not incurred in the ordinary course of business or any subsequent indebtedness exceeding $1,000 by MCE Transportation. As of December 31, 2014, the Aircraft Term Loan has been fully drawn down and utilized with other funds of the Group, to fund the purchase of the aircraft. As of December 31, 2014 and 2013, the carrying value of aircraft was $40,974 and $46,437, respectively. 2013 Senior Notes On February 7, 2013, MCE Finance issued and listed $1,000,000 5% senior notes, due 2021 (the “2013 Senior Notes”) and priced at 100% at par on the SGX-ST. The 2013 Senior Notes are general obligations of MCE Finance, rank equally in right of payment to all existing and future senior indebtedness of MCE Finance and rank senior in right of payment to any existing and future subordinated indebtedness of MCE Finance and effectively subordinated to all of MCE Finance’s existing and future secured indebtedness to the extent of the value of the assets securing such debt. Certain subsidiaries of MCE Finance (the “2013 Senior Notes Guarantors”) jointly, severally and unconditionally guarantee the 2013 Senior Notes on a senior basis. The guarantees are joint and several general obligations of the 2013 Senior Notes Guarantors, rank equally in right of payment with all existing and future senior indebtedness of the 2013 Senior Notes Guarantors, and rank senior in right of payment to any existing and future subordinated indebtedness of the 2013 Senior Notes Guarantors. The 2013 Senior Notes mature on February 15, 2021. Interest on the 2013 Senior Notes is accrued at a rate of 5% per annum and is payable semi-annually in arrears on February 15 and August 15 of each year, commenced on August 15, 2013. The net proceeds from the offering of the 2013 Senior Notes, after deducting the underwriting commissions and other expenses of approximately $14,500, was approximately $985,500. The Group used part of the net proceeds from the offering to (i) repurchase in full the 2010 Senior Notes of $600,000 and fund the related redemption costs of the 2010 Senior Notes of $102,497 and (ii) for the partial repayment of the RMB Bonds on March 11, 2013. As a result, in accordance with the applicable accounting standards, the Group recorded a $50,256 loss on extinguishment of debt in the consolidated statements of operations for the year ended December 31, 2013 which comprised the portion of the redemption costs of $38,949, write off of respective portion of unamortized deferred financing costs of $9,041 and unamortized issue discount of $2,266 related to the 2010 Senior Notes and recorded $10,538 costs associated with debt modification in the consolidated statements of operations for the year ended December 31, 2013 which represented the portion of the underwriting fee and other third party costs incurred in connection with the issuance of the 2013 Senior Notes. The remaining portion of the underwriting fee and other third party costs of $6,523 were capitalized as deferred financing costs. MCE Finance has the option to redeem all or a portion of the 2013 Senior Notes at any time prior to February 15, 2016, at a “make-whole” redemption price. Thereafter, MCE Finance has the option to redeem all or a portion of the 2013 Senior Notes at any time at fixed redemption prices that decline ratably over time. MCE Finance has the option to redeem up to 35% of the 2013 Senior Notes with the net cash proceeds from one or more certain equity offerings at a fixed redemption price at any time prior to February 15, 2016. In addition, under certain circumstances and subject to certain exceptions as more fully described in the indenture, MCE Finance also has the option to redeem in whole, but not in part of the 2013 Senior Notes at fixed redemption prices. The indenture governing the 2013 Senior Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of MCE Finance and its restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (vii) enter into transactions with shareholders or affiliates; and (viii) effect a consolidation or merger. As of December 31, 2014, management believes that MCE Finance was in compliance with each of the financial restrictions and requirements.
There are provisions under the indenture of the 2013 Senior Notes that limit or prohibit certain payments of dividends and other distributions by MCE Finance and its restricted subsidiaries to the Company or persons who are not MCE Finance or members of MCE Finance’s restricted subsidiaries, subject to certain exceptions and conditions (described in further detail in Note 20). As of December 31, 2014 and 2013, the net assets of MCE Finance and its restricted subsidiaries of approximately $3,639,000 and $3,296,000, respectively, were restricted from being distributed under the terms of the 2013 Senior Notes. Studio City Notes On November 26, 2012, Studio City Finance Limited (“Studio City Finance”), an indirect subsidiary which the Company holds 60% interest, issued and listed the $825,000 8.5% senior notes, due 2020 (the “Studio City Notes”) and priced at 100% at par on the SGX-ST. The Studio City Notes are general obligations of Studio City Finance, secured by a first-priority security interest in certain specific bank accounts incidental to the Studio City Notes and a pledge of any intercompany loans from Studio City Finance to or on behalf of Studio City Investments Limited (“Studio City Investments”), a wholly-owned direct subsidiary of Studio City Finance and the immediate holding company of Studio City Company, a wholly-owned indirect subsidiary of Studio City Finance, or its subsidiaries entered into subsequent to the issue date of the Studio City Notes, rank equally in right of payment to all existing and future senior indebtedness of Studio City Finance and rank senior in right of payment to any existing and future subordinated indebtedness of Studio City Finance. The Studio City Notes are effectively subordinated to all of Studio City Finance’s existing and future secured indebtedness to the extent of the value of the property and assets securing such indebtedness. All of the existing direct and indirect subsidiaries of Studio City Finance and any other future restricted subsidiaries that provide guarantees of certain specified indebtedness (including the Studio City Project Facility as described below) (the “Studio City Notes Guarantors”) jointly, severally and unconditionally guarantee the Studio City Notes on a senior basis (the “Guarantees”). The Guarantees are general obligations of the Studio City Notes Guarantors, rank equally in right of payment with all existing and future senior indebtedness of the Studio City Notes Guarantors and rank senior in right of payment to any existing and future subordinated indebtedness of the Studio City Notes Guarantors. The Guarantees are effectively subordinated to the Studio City Notes Guarantors’ obligations under the Studio City Project Facility and any future secured indebtedness that is secured by property and assets of the Studio City Notes Guarantors to the extent of the value of such property and assets. The Studio City Notes mature on December 1, 2020 and the interest on the Studio City Notes is accrued at a rate of 8.5% per annum and is payable semi-annually in arrears on June 1 and December 1 of each year, commenced on June 1, 2013. The net proceeds from the offering, after deducting the underwriting commissions and other expenses of approximately $13,200, was approximately $811,800. Studio City Finance used the net proceeds from the offering to fund the Studio City project and the related fees and expenses. The net proceeds from the offering was deposited in a bank account of Studio City Finance (the “Escrow Account”) and was restricted for use, which was subsequently released upon signing of the Studio City Project Facility on January 28, 2013. Upon release from the Escrow Account, all the net proceeds were deposited in a bank account of Studio City Finance (the “Note Proceeds Account”) and were available for payment of construction and development costs and other project costs of the Studio City project with conditions and sequence for disbursements in accordance with an agreement (the “Note Disbursement and Account Agreement”) as described below, except for a portion of net proceeds amounting to $239,594, which represents the sum of interest expected to accrue on the Studio City Notes through to the 41-month anniversary of their issue date, which was deposited in a bank account of Studio City Finance (the “Note Interest Reserve Account”), and is restricted for use to pay future interest payments until the opening date (the “Opening Date”) of the Studio City project as defined in the Studio City Project Facility. Concurrent with the submission of the first utilization request under the Studio City Project Facility on January 10, 2014, an amount equal to the six-month sum of interest due on the Studio City Notes of $35,063 was released from the Note Interest Reserve Account and deposited in a bank account (the “Note Debt Service Reserve Account”) of Studio City Company, the borrower under the Studio City Project Facility. During the years ended December 31, 2014 and 2013, Studio City Finance paid Studio City Notes interest expenses amounting to $70,125 and $71,099, respectively, with funds from the Note Interest Reserve Account. The remaining amount in the Note Interest Reserve Account (less an amount equal to the pro-rated portion of interest due on the next interest payment date) will be released and be deposited in a bank account of Studio City Company (the “Revenue Account”) on the Opening Date. The security agent of the Studio City Project Facility has security over the Note Debt Service Reserve Account and the Revenue Account. As of December 31, 2014, the Group classified the balance of the Note Interest Reserve Account of $63,340 as current portion of restricted cash, while the balance of Note Debt Service Reserve Account of $35,064 as non-current portion of restricted cash on the consolidated balance sheets. The Studio City Notes were subject to a special mandatory redemption at a redemption price in the event that i) the Studio City Project Facility was not executed on or before March 31, 2013; and ii) the funds were not released from the Note Proceeds Account prior to January 28, 2014, the date that was one year from the date of the execution of the Studio City Project Facility due to the failure of the conditions precedent (subject to certain exceptions) to first utilization of the Studio City Project Facility to be satisfied or waived by such date. The first condition was satisfied with execution of the Studio City Project Facility on January 28, 2013 and the second conditions were satisfied and the first disbursement funds on the Studio City Notes were released from the Note Proceeds Account to a bank account of Studio City Finance (the “Note Disbursement Account”) for the Studio City project cost payments on January 17, 2014. On November 26, 2012, Studio City Finance and Studio City Company entered into a Note Disbursement and Account Agreement with certain banks and other parties to, among other things, establish the conditions and sequence of funding of the Studio City project costs. The Studio City project costs are financed in the following order:
Studio City Finance has the option to redeem all or a portion of the Studio City Notes at any time prior to December 1, 2015, at an additional redemption price. Thereafter, Studio City Finance has the option to redeem all or a portion of the Studio City Notes at any time at fixed redemption prices that decline ratably over time.
Studio City Finance has the option to redeem up to 35% of the Studio City Notes with the net cash proceeds of certain equity offerings at a fixed redemption price at any time prior to December 1, 2015. In addition, under certain circumstances and subject to certain exceptions as more fully described in the indenture, Studio City Finance also has the option to redeem in whole, but not in part of the Studio City Notes at fixed redemption prices. The indenture governing the Studio City Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Studio City Finance and its restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (vii) enter into transactions with shareholders or affiliates; and (viii) effect a consolidation or merger. As of December 31, 2014, management believes that Studio City Finance was in compliance with each of the financial restrictions and requirements. There are provisions under the indenture of the Studio City Notes that limit or prohibit certain payments of dividends and other distributions by Studio City Finance and its restricted subsidiaries to the Company or persons who are not Studio City Finance or members of Studio City Finance’s restricted subsidiaries, subject to certain exceptions and conditions (described in further detail in Note 20). As of December 31, 2014 and 2013, the net assets of Studio City Finance and its restricted subsidiaries of approximately $102,000 and $171,000, respectively, were restricted from being distributed under the terms of the Studio City Notes. Studio City Project Facility On January 28, 2013, Studio City Company (the “Studio City Borrower”) and certain lenders (the “Studio City Lenders”) executed a senior secured credit facilities denominated in Hong Kong dollars with an aggregate amount of HK$10,855,880,000 (equivalent to $1,395,357) (the “Studio City Project Facility”), pursuant to substantially all the terms and conditions set out in a commitment letter (the “Commitment Letter”) entered on October 19, 2012 by the Studio City Borrower, the Studio City Lenders, the Company and New Cotai Investments, LLC (“New Cotai Investments”), an indirect noncontrolling shareholder who owns 40% interest in Studio City Borrower, to fund the Studio City project. The Studio City Project Facility consists of a HK$10,080,460,000 (equivalent to $1,295,689) term loan facility (the “Studio City Term Loan Facility”) and a HK$775,420,000 (equivalent to $99,668) revolving credit facility (the “Studio City Revolving Credit Facility”). The Studio City Term Loan Facility matures on January 28, 2018 and is subject to quarterly amortization payments commencing on the earlier of (i) December 31, 2016, the first fiscal quarter end date falling not less than 45 months after January 28, 2013; and (ii) the end of the second full fiscal quarter after the Opening Date of the Studio City project. Amounts under the Studio City Term Loan Facility may be borrowed from and after the date that certain conditions precedent were satisfied until July 28, 2014, the date falling 18 months after January 28, 2013. The Studio City Revolving Credit Facility matures on January 28, 2018 and has no interim amortization. The Studio City Revolving Credit Facility may be utilized prior to the Opening Date for project costs by way of issue of letters of credit to a maximum of HK$387,710,000 (equivalent to $49,834), and may be borrowed in full on a revolving basis after the Opening Date.
Borrowings under the Studio City Project Facility bear interest at HIBOR plus a margin of 4.50% per annum until the last day of the second full fiscal quarter after the Opening Date, at which time the interest rate shall bear interest at HIBOR plus a margin ranging from 3.75% to 4.50% per annum as determined in accordance with the total leverage ratio in respect of Studio City Investments, Studio City Borrower and its subsidiaries (together, the “Studio City Borrowing Group”). The Studio City Borrower may make voluntary prepayments in respect of the Studio City Project Facility in a minimum amount of HK$100,000,000 (equivalent to $12,853), plus the amount of any applicable break costs. The Studio City Borrower is also subject to mandatory prepayment requirements in respect of various amounts within the Studio City Borrowing Group, including but not limited to: (i) net termination or claim proceeds under the Studio City Borrowing Group’s land concessions, certain construction agreements or finance or project documents, subject to certain exceptions; (ii) the net proceeds of certain asset sales, subject to reinvestment rights and certain exceptions, which are in excess of $5,000; (iii) the net proceeds received by any member of the Studio City Borrowing Group in respect of the compulsory transfer, seizure or acquisition by any governmental authority of the assets of any member of the Studio City Borrowing Group (subject to certain exceptions); (iv) 50% of the net proceeds of any permitted equity issuance of any member of the Studio City Borrowing Group; (v) the net proceeds of any debt issuance of any member of the Studio City Borrowing Group, subject to certain exceptions; (vi) insurance proceeds net of expenses to obtain such proceeds under the property insurances, subject to reinvestment rights and certain exceptions, which are in excess of $10,000; and (vii) certain percentage of excess cash in accordance with leverage test. The indebtedness under the Studio City Project Facility is guaranteed by Studio City Investments and its subsidiaries (other than the Studio City Borrower). Security for the Studio City Project Facility included: a first priority mortgage over the land where Studio City is located, such mortgage will also cover all present and any future buildings on, and fixtures to, the relevant land; an assignment of any land use rights under land concession agreements, leases or equivalent; as well as other customary security. Certain accounts of Melco Crown Macau relating solely to the operation of the Studio City gaming area are pledged as security for the Studio City Project Facility and related finance documents. The Studio City Project Facility contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Studio City Investments and its restricted subsidiaries to, among other things, (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) paying dividends and other restricted payments; and (vii) effect a consolidation or merger. The Studio City Project Facility also contains certain financial covenants and the first test date of these financial covenants is the earlier of June 30, 2016 and the end of the second full financial quarter after Opening Date. As of December 31, 2014, management believes that Studio City Borrowing Group was in compliance with each of the financial restrictions and requirements. There are provisions that limit or prohibit certain payments of dividends and other distributions by the Studio City Borrowing Group to the Company or persons who are not members of the Studio City Borrowing Group (described in further detail in Note 20). As of December 31, 2014 and 2013, the net assets of Studio City Investments and its restricted subsidiaries of approximately $175,000 and $217,000, respectively, were restricted from being distributed under the terms of the Studio City Project Facility. The Studio City Borrower is obligated to pay a commitment fee quarterly in arrears on the undrawn amount of the Studio City Project Facility throughout the availability period which started from January 28, 2013. The Studio City Borrower recognized loan commitment fees on the Studio City Project Facility of $15,153 and $23,190, respectively, during the years ended December 31, 2014 and 2013. In connection with the Studio City Project Facility, Studio City International Holdings Limited (“Studio City International”), an intermediate holding company of Studio City Finance and an indirect subsidiary which the Company holds 60% interest, is required to procure a contingent equity undertaking or similar (with a liability cap of $225,000) granted in favor of the security agent for the Studio City Project Facility to, amongst other things, pay agreed project costs (i) associated with construction of Studio City and (ii) for which the facility agent under the Studio City Project Facility has determined there is no other available funding under the terms of the Studio City Project Facility. In support of such contingent equity undertaking, Studio City International has deposited and maintained a bank balance of $225,000 in an account secured in favor of the security agent for the Studio City Project Facility (“Cash Collateral”) as of December 31, 2014 and 2013. The Cash Collateral is required to be maintained until the construction completion date of the Studio City has occurred, certain debt service reserve and accrual accounts have been funded to the required balance and the financial covenants have been complied with. As of December 31, 2014 and 2013, the Cash Collateral is classified as non-current portion of restricted cash in the consolidated balance sheets. The Studio City Borrower had not drawn down on the Studio City Term Loan Facility and the Studio City Revolving Credit Facility during the year ended December 31, 2013. On July 28, 2014, the Studio City Term Loan Facility of HK$10,080,460,000 (equivalent to $1,295,689) has been fully drawn down. As of December 31, 2014, the entire Studio City Revolving Credit Facility of HK$775,420,000 (equivalent to $99,668) remains available for future draw down, subject to satisfaction of certain conditions precedent. The Studio City Borrower is required to, within 120 days after the drawdown of the Studio City Project Facility, enter into agreements to ensure that at least 50% of the aggregate of drawn Studio City Term Loan Facility and the Studio City Notes are subject to interest rate protection, by way of interest rate swap agreements, caps, collars or other agreements agreed with the facility agent under the Studio City Project Facility to limit the impact of increases in interest rates on its floating rate debt, for a period of not less than three years from the date of the first drawdown of the Studio City Term Loan Facility. Since the Studio City Borrower drew down the Studio City Term Loan Facility on July 28, 2014, the Studio City Borrower entered into certain floating-for-fixed interest rate swap agreements in September 2014 to limit its exposure to interest rate risk. Under the interest rate swap agreements, the Studio City Borrower pays a fixed interest rate of 0.28% per annum of the notional amount, and receives variable interest which is based on the applicable HIBOR for each of the payment dates. All these interest rate swap agreements will expire in March 2015. These interest rate swap agreements are expected to remain highly effective in fixing the interest rate and qualify for cash flow hedge accounting. Therefore, there is no impact on the consolidated statements of operations from changes in the fair value of the hedging instruments. Instead the fair value of the instruments are recorded as assets or liabilities on the consolidated balance sheets, with an offsetting adjustment to the accumulated other comprehensive losses until the hedged interest expenses were recognized in the consolidated statements of operations. No hedge agreement has been entered as at December 31, 2013 as the Studio City Borrower has not drawn down on the Studio City Project Facility. Philippine Notes On January 24, 2014, MCE Leisure issued PHP15 billion 5% senior notes, due 2019 (the “Philippine Notes”) (equivalent to $336,825 based on exchange rate on transaction date) at par of 100% of the principal amount and offered to certain primary institutional lenders as noteholders via private placement in the Philippines, which was priced on December 19, 2013. The Philippine Notes are general obligations of MCE Leisure, secured on a first-ranking basis by pledge of shares of all present and future direct and indirect subsidiaries of MCP, rank equally in right of payment with all existing and future senior indebtedness of MCE Leisure (save and except for any statutory preference or priority) and rank senior in right of payment to any existing and future subordinated indebtedness of MCE Leisure. The Philippine Notes are guaranteed by MCP and all present and future direct and indirect subsidiaries of MCP (subject to certain limited exceptions) (collectively the “Philippine Guarantors”), jointly and severally with MCE Leisure; and irrevocably and unconditionally by MCE on a senior basis. The guarantees are general obligations of the Philippine Guarantors, rank equally in right of payment to all existing and future senior indebtedness of the Philippine Guarantors (except for any statutory preference or priority) and rank senior in right of payment to any existing and future subordinated indebtedness of the Philippine Guarantors. The Philippine Notes mature on January 24, 2019. Interest on the Philippine Notes is accrued at a rate of 5% per annum and is payable semi-annually in arrears on January 24 and July 24 of each year, commenced on July 24, 2014. In addition, the Philippine Notes includes a tax gross up provision requiring MCE Leisure to pay without any deduction or withholding for or on account of tax. The net proceeds from the offering of the Philippine Notes, after deducting the underwriting commissions and other expenses of approximately PHP230,769,000 (equivalent to $5,182 based on exchange rate on transaction date), was approximately PHP14,769,231,000 (equivalent to $331,643 based on exchange rate on transaction date). MCE Leisure used the net proceeds from the offering to fund the City of Dreams Manila project, refinancing of debt and general corporate purposes. MCE Leisure has the option to redeem all or a portion of the Philippine Notes at any time prior to January 24, 2015 at 100% of the principal amount plus applicable premium as defined in the notes facility and security agreement (the “Notes Facility and Security Agreement”) governing the Philippine Notes. Thereafter, MCE Leisure has the option to redeem all or a portion of the Philippine Notes at any time at fixed prices that decline ratably over time. The Notes Facility and Security Agreement contains certain covenants that, subject to certain exceptions and conditions, limit the ability of MCP and its subsidiaries ability, including MCE Leisure to, among other things: (i) incur or guarantee additional indebtedness; (ii) sell assets; (iii) create liens; and (iv) effect a consolidation and merger. As of December 31, 2014, management believes that MCE Leisure was in compliance with each of the financial restrictions and requirements. The Philippine Notes are exempted from registration with the Philippine Securities and Exchange Commission (the “Philippine SEC”) under the Philippine Securities Regulation Code Rule (“SRC Rule”) 9.2.2(B) promulgated by the Philippine SEC as the Philippine Notes were offered via private placement to not more than nineteen primary institutional lenders, accordingly, the Philippine Notes are subject to the conditions of SRC Rule 9.2.2(B) which limit the assignment and transfer of the Philippine Notes to primary institutional lenders only and to be held by not more than nineteen primary institutional lenders at any time before maturity of the Philippine Notes.
Total interest on long-term debt consisted of the following:
During the years ended December 31, 2014, 2013 and 2012, the Group’s average borrowing rates were approximately 5.41%, 5.36% and 5.06% per annum, respectively. Scheduled maturities of the long-term debt as of December 31, 2014 are as follows:
The long-term debt are repayable as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
CAPITAL LEASE OBLIGATIONS |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CAPITAL LEASE OBLIGATIONS |
On March 13, 2013, a lease agreement (the “MCP Lease Agreement”) which was entered on October 25, 2012, and was subsequently amended from time to time, between MCE Leisure and Belle Corporation (“Belle”, one of the Philippine Parties as defined in Note 22(a)) for lease of the land and certain of the building structures for City of Dreams Manila which expected to be expired on July 11, 2033, became effective upon completion of closing arrangement conditions and with minor changes from the original terms. Apart from the MCP Lease Agreement, the Group entered into lease agreements with third parties of lease of certain property and equipment during the years ended December 31, 2014 and 2013. The Group made assessments at inception of the leases and capitalized the portion related to property and equipment under capital lease at the lower of the fair value or the present value of the future minimum lease payments. Future minimum lease payments under capital lease obligations for the Group as of December 31, 2014 are as follows:
|
X | ||||||||||
- Definition The entire disclosure for capital leasing arrangements including, but not limited to, the following: a) the basis on which contingent rental payments are determined; (b) the existence and terms of renewal or purchase options and escalation clauses; (c) restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
OTHER LONG-TERM LIABILITIES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OTHER LONG-TERM LIABILITIES |
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for other liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
FAIR VALUE MEASUREMENTS |
12 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||
FAIR VALUE MEASUREMENTS |
Authoritative literature provides a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows:
The carrying values of cash and cash equivalents, bank deposits with original maturity over three months and restricted cash approximated fair value and represented a level 1 measurement. The carrying values of long-term deposits, long-term receivables and other long-term liabilities approximated fair value and represented a level 2 measurement. The estimated fair value of long-term debt as of December 31, 2014 and 2013, which included the Studio City Project Facility, the 2013 Senior Notes, the Studio City Notes, the 2011 Credit Facilities, the Philippine Notes and the Aircraft Term Loan, were approximately $3,878,381 and $2,585,768, respectively, as compared to its carrying value of $3,902,781 and $2,533,460, respectively. Fair value was estimated using quoted market prices and represented a level 1 measurement for the 2013 Senior Notes and the Studio City Notes. Fair value for the Studio City Project Facility, the 2011 Credit Facilities, the Philippine Notes and the Aircraft Term Loan approximated the carrying values as the instruments carried either variable interest rates or the fixed interest rate approximated the market rate and represented a level 2 measurement. Additionally, the carrying value of land use rights payable approximated fair value as the instruments carried the fixed interest rate approximated the market rate and represented a level 2 measurement. As of December 31, 2014, the Group did not have any non-financial assets or liabilities that are recognized or disclosed at fair value in the consolidated financial statements. The Group’s financial assets and liabilities recorded at fair value have been categorized based upon the fair value in accordance with the accounting standards. As of December 31, 2014, the interest rate swap agreements carried at fair value and the fair value of these interest rate swap agreements approximated the amounts the Group would pay if these contracts were settled at the respective valuation dates. Fair value is estimated based on a standard valuation model that projects future cash flows and discounts those future cash flows to a present value using market-based observable inputs such as interest rate yields. Since significant observable inputs are used in the valuation model, the interest rate swap arrangements represented a level 2 measurement in the fair value hierarchy. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
CAPITAL STRUCTURE |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Text Block [Abstract] | |||
CAPITAL STRUCTURE |
Ordinary and Treasury Shares The Company’s treasury shares represent i) new shares issued by the Company and held by the depository bank to facilitate the administration and operations of the Company’s share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the 2011 Share Incentive Plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the 2011 Share Incentive Plan as described in Note 18; and iii) the shares repurchased by the Company under the Stock Repurchase Program (as described below) pending for retirement. New Shares Issued by the Company During the years ended December 31, 2014, 2013 and 2012, the Company issued nil, 8,574,153 and 4,958,293 ordinary shares to its depository bank for future vesting of restricted shares and exercise of share options, respectively. The Company issued 1,068,534, 1,297,902 and 1,276,634 of these ordinary shares upon vesting of restricted shares; and 928,299, 3,064,302 and 2,966,955 of these ordinary shares upon exercise of share options during the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, 2013 and 2012, the Company had a balance of 13,482,154, 15,478,987 and 11,267,038 newly issued ordinary shares which continue to be held by the Company for future issuance upon vesting of restricted shares and exercise of share options. Shares Purchased under a Trust Arrangement On May 15, 2013, the Board of Directors of the Company authorized a trustee to purchase the Company’s ADS from NASDAQ for the purpose of satisfying its obligation to deliver ADS under its 2011 Share Incentive Plan (“Share Purchase Program”). Under the Share Purchase Program, the trustee can purchase ADS from the open market at the price range to be determined by the Company’s management from time to time. This Share Purchase Program may be terminated by the Company at any time. The purchased ADSs are to be delivered to the Directors, eligible employees and consultants upon vesting of the restricted shares. During the year ended December 31, 2014, 69,426 ADSs, equivalent to 208,278 ordinary shares were purchased under a trust arrangement from NASDAQ at an average market price of $24.79 per ADS or $8.26 per share (including commissions), and 467,121 ordinary shares purchased under a trust arrangement were delivered to Directors and eligible employees to satisfy the vesting of restricted shares. During the year ended December 31, 2013, 373,946 ADSs, equivalent to 1,121,838 ordinary shares were purchased under a trust arrangement from NASDAQ at an average market price of $23.45 per ADS or $7.82 per share (including commissions), and 378,579 ordinary shares purchased under a trust arrangement were delivered to Directors and eligible employees to satisfy the vesting of restricted shares. As of December 31, 2014 and 2013, the shares purchased under trust arrangement has a balance of 484,416 and 743,259 ordinary shares, respectively, for future issuance upon vesting of restricted shares. Shares Repurchased for Retirement On August 7, 2014, the Board of Directors of the Company authorized the repurchase of the Company’s ADS of up to an aggregate of $500,000 under a stock repurchase program (“Stock Repurchase Program”), which remains valid until the expiry or revocation of the share repurchase mandate granted by the shareholders, upon conclusion of the next annual general meeting of the Company to be held in 2015, for shares retirement. Under the Stock Repurchase Program, the Company can repurchase ADS from the open market at the price range determined by the Company’s management from time to time. This Stock Repurchase Program may be terminated by the Company at any time prior to the expiration of the Stock Repurchase Program. During the year ended December 31, 2014, 12,216,448 ADSs, equivalent to 36,649,344 ordinary shares were repurchased under the Stock Repurchase Program from NASDAQ in aggregate for $300,495 (including commissions), at an average market price of $24.60 per ADS or $8.20 per share, of which 32,931,528 ordinary shares repurchased under the Stock Repurchase Program were retired. As of December 31, 2014, the shares repurchased had a balance of 3,717,816 ordinary shares for future shares retirement and these remaining repurchased ordinary shares were subsequently retired in January 2015. As of December 31, 2014, 2013 and 2012, the Company had 1,633,701,920, 1,666,633,448 and 1,658,059,295 issued ordinary shares, and 17,684,386, 16,222,246 and 11,267,038 treasury shares, with 1,616,017,534, 1,650,411,202 and 1,646,792,257 issued ordinary shares outstanding, respectively. |
X | ||||||||||
- Definition Represents the disclosure of capital structure including information on authorized common stock, stock offerings, and stock issued in relation to the shareholders' loan conversion and the equity-based compensation. No definition available.
|
X | ||||||||||
- References No definition available.
|
INCOME TAXES |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME TAXES |
The Company and certain subsidiaries are exempt from tax in the Cayman Islands or British Virgin Islands (“BVI”), where they are incorporated, however, the Company is subject to Hong Kong Profits Tax on profits from its activities conducted in Hong Kong. Certain subsidiaries incorporated or conducting businesses in Hong Kong, Macau, the Philippines and other jurisdictions are subject to Hong Kong Profits Tax, Macau Complementary Tax, income tax in the Philippines and other jurisdictions, respectively, during the years ended December 31, 2014, 2013 and 2012. The Company’s subsidiary incorporated in the United States of America and dissolved in June 2013, is subject to income tax in the United States of America up to the date of dissolution in 2013 and during the year ended December 31, 2012. Pursuant to the approval notices issued by the Macau Government dated June 7, 2007, Melco Crown Macau has been exempted from Macau Complementary Tax on profits generated by gaming operations for five years commencing from 2007 to 2011 and will continue to benefit from this exemption for another five years from 2012 to 2016 pursuant to the approval notices issued by the Macau Government in April 2011. The Macau Government has granted to subsidiaries of the Company, Altira Hotel Limited (“Altira Hotel”), in 2007, and Melco Crown (COD) Hotels Limited (“Melco Crown (COD) Hotels”), in 2011 and 2013, the declaration of utility purposes benefit in respect of Altira Macau, Hard Rock Hotel, Crown Towers hotel and Grand Hyatt Macau hotel, pursuant to which they are entitled to a property tax holiday, for a period of 12 years, on any immovable property that they own or have been granted. Under such declaration of utility purposes benefit, they will also be allowed to double the maximum rates applicable regarding depreciation and reintegration for the purposes of assessing the Macau Complementary Tax. The Macau Government has also granted to Altira Hotel and Melco Crown (COD) Hotels a declaration of utility purposes benefit on specific vehicles purchased, pursuant to which they were entitled to a vehicle tax holiday, provided that there is no change in use or disposal of those vehicles within 5 years from the date of purchase. The grant of further vehicle tax holiday is subject to the satisfaction by the Group of certain criteria determined by the Macau Government. The provision for income tax consisted of:
A reconciliation of the income tax expense (credit) to income before income tax per the consolidated statements of operations is as follows:
Macau Complementary Tax and Hong Kong Profits Tax have been provided at 12% and 16.5% on the estimated taxable income earned in or derived from Macau and Hong Kong, respectively, during the years ended December 31, 2014, 2013 and 2012, if applicable. Income tax in other jurisdictions for the years ended December 31, 2014, 2013 and 2012 were provided mainly for the profits of the representative offices and branches set up by a subsidiary of the Company in the region where they operate. For the year ended December 31, 2014, the provision for current income tax of one of the Company’s subsidiaries in the Philippines has been provided at 30% on the estimated taxable income and offset with a benefit from deferred income tax recognized up to the amount of income tax provided. No provisions for income tax for other subsidiaries of the Company in the Philippines for the years ended December 31, 2014, 2013 and 2012 and in the United States of America for the years ended December 31, 2013 and 2012 were provided as the subsidiaries incurred tax losses. Melco Crown Macau was granted a tax holiday from Macau Complementary Tax for 5 years on gaming profits by the Macau Government in 2007. In April 2011, this tax holiday for Melco Crown Macau was extended for an additional 5 years through 2016. During the years ended December 31, 2014, 2013 and 2012, Melco Crown Macau reported net income and had the Group been required to pay such taxes, the Group’s consolidated net income attributable to Melco Crown Entertainment Limited for the years ended December 31, 2014, 2013 and 2012 would have been decreased by $109,189, $125,702 and $88,491, respectively. The basic and diluted net income attributable to Melco Crown Entertainment Limited per share would have reported reduced income of $0.066 and $0.066 per share for the year ended December 31, 2014, $0.076 and $0.076 per share for the year ended December 31, 2013 and $0.054 and $0.053 per share for the year ended December 31, 2012, respectively. Melco Crown Macau’s non-gaming profits remain subject to the Macau Complementary Tax and its casino revenues remain subject to the Macau special gaming tax and other levies in accordance with its gaming subconcession agreement.
In 2013, Melco Crown Macau made an application to the Macau Government for a tax concession arrangement for its shareholders. Pursuant to the proposed terms issued by the Macau Government in December 2013 which was accepted by Melco Crown Macau in January 2014, an annual lump sum amount of MOP22,400,000 (equivalent to $2,795) is payable by Melco Crown Macau to the Macau Government, effective retroactively from 2012 through 2016, coinciding with the 5-year extension of the tax holiday as mentioned above, as payments in lieu of Macau Complementary Tax otherwise due by the shareholders of Melco Crown Macau on dividend distributions from gaming profits. Such annual lump sum tax payments are required regardless of whether dividends are actually distributed or whether Melco Crown Macau has distributable profits in the relevant year. The income tax provision for the year 2013 included the annual lump sum dividend withholding tax payments accrued for the years 2013 and 2012. The effective tax rates for the years ended December 31, 2014, 2013 and 2012 were 0.6%, 0.4% and negative rate of 0.7%, respectively. Such rates differ from the statutory Macau Complementary Tax rate of 12% primarily due to the effect of profits generated by gaming operations exempted from Macau Complementary Tax, the effect of change in valuation allowance, the effect of different tax rates of subsidiaries operating in other jurisdictions and the effect of expenses for which no income tax benefit is receivable for the years ended December 31, 2014, 2013 and 2012. The net deferred tax liabilities as of December 31, 2014 and 2013 consisted of the following:
As of December 31, 2014 and 2013, valuation allowance of $127,927 and $88,610 were provided, respectively, as management believes that it is more likely than not that these deferred tax assets will not be realized. As of December 31, 2014, adjusted operating tax loss carry forwards, amounting to $153,845, $177,728 and $245,405 will expire in 2015, 2016 and 2017, respectively. Adjusted operating tax loss carried forwards of $159,715 has expired during the year ended December 31, 2014. Deferred tax, where applicable, is provided under the liability method at the enacted statutory income tax rate of the respective tax jurisdictions, applicable to the respective financial years, on the difference between the consolidated financial statements carrying amounts and income tax base of assets and liabilities. Aggregate undistributed earnings of the Company’s foreign subsidiaries are available for distribution to the Company of approximately $11,447 and $18,175 as at December 31, 2014 and 2013, respectively, are considered to be indefinitely reinvested and the amounts as of December 31, 2014 and 2013 exclude the undistributed earnings of Melco Crown Macau. Accordingly, no provision has been made for the dividend withholding taxes that would be payable upon the distribution of those amounts to the Company. If those earnings were to be distributed or they were determined to be no longer permanently reinvested, the Company would have to record a deferred income tax liability in respect of those undistributed earnings of approximately $1,717 and $2,725 as at December 31, 2014 and 2013, respectively. An evaluation of the tax positions for recognition was conducted by the Group by determining if the weight of available evidence indicates it is more likely than not that the positions will be sustained on audit, including resolution of related appeals or litigation processes, if any. Uncertain tax benefits associated with the tax positions were measured based solely on the technical merits of being sustained on examinations. The Group concluded that there was no significant uncertain tax position requiring recognition in the consolidated financial statements for the years ended December 31, 2014, 2013 and 2012 and there is no material unrecognized tax benefit which would favourably affect the effective income tax rate in future periods. As of December 31, 2014 and 2013, there were no interest and penalties related to uncertain tax positions recognized in the consolidated financial statements. The Group does not anticipate any significant increases or decreases to its liability for unrecognized tax benefit within the next twelve months. The income tax returns of the Company and its subsidiaries remain open and subject to examination by the tax authorities of Hong Kong, Macau, the United States of America, the Philippines and other jurisdictions until the statute of limitations expire in each corresponding jurisdiction. The statute of limitations in Hong Kong, Macau, the United States of America and the Philippines are 6 years, 5 years, 3 years and 3 years, respectively. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SHARE-BASED COMPENSATION |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SHARE-BASED COMPENSATION |
2006 Share Incentive Plan The Group adopted a share incentive plan in 2006 (“2006 Share Incentive Plan”) to attract and retain the best available personnel for positions of substantial responsibility, to provide additional incentives to employees, Directors and consultants and to promote the success of its business. Under the 2006 Share Incentive Plan, the Group may grant either options to purchase the Company’s ordinary shares or restricted shares (Note: The restricted shares, as named in respective grant documents, are accounted for as nonvested shares). The term of an award shall not exceed 10 years from the date of the grant. The maximum aggregate number of ordinary shares which may be issued pursuant to all awards under the 2006 Share Incentive Plan (including shares issuable upon exercise of options) is 100,000,000 over 10 years. The new share incentive plan (“2011 Share Incentive Plan”) as described below was effective immediately after the listing of the Company’s ordinary shares on the Main Board of the Hong Kong Stock Exchange on December 7, 2011 and no further awards may be granted under the 2006 Share Incentive Plan on or after such date as all subsequent awards will be issued under the 2011 Share Incentive Plan. Accordingly, no share option and restricted share were granted under the 2006 Share Incentive Plan during the years ended December 31, 2014, 2013 and 2012. Share Options A summary of share options activity under the 2006 Share Incentive Plan as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
A summary of share options vested under the 2006 Share Incentive Plan at December 31, 2014 are presented below:
Note: 1,615,101 share options vested and 6,087 share options expired during the year ended December 31, 2014. As of December 31, 2014, there was no unvested share options under the 2006 Share Incentive Plan. Share options of 853,905, 2,967,372 and 2,966,955 were exercised and proceeds amounted to $1,758, $4,463 and $3,632 were recognized during the years ended December 31, 2014, 2013 and 2012, respectively. The total intrinsic values of share options exercised for the years ended December 31, 2014, 2013 and 2012 were $5,472, $34,330 and $13,022, respectively. As of December 31, 2014, there was no unrecognized compensation costs related to share options under the 2006 Share Incentive Plan.
Restricted Shares A summary of the status of the 2006 Share Incentive Plan’s restricted shares as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
The total fair values at date of grant of the restricted shares under the 2006 Share Incentive Plan vested during the years ended December 31, 2014, 2013 and 2012 were $2,182, $2,643 and $3,181, respectively. As of December 31, 2014, there was no unrecognized compensation costs related to restricted shares under the 2006 Share Incentive Plan. 2011 Share Incentive Plan The Group adopted the 2011 Share Incentive Plan to promote the success and enhance the value of the Company by linking personal interests of the members of the Board, employees and consultants to those of the shareholders and by providing such individuals with incentive for outstanding performance to generate superior returns to the shareholders which became effective on December 7, 2011. Under the 2011 Share Incentive Plan, the Group may grant various share-based awards, including but not limited to, options to purchase the Company’s ordinary shares, share appreciation rights, restricted shares and other types of awards. The term of such awards shall not exceed 10 years from the date of the grant. The maximum aggregate number of ordinary shares which may be issued pursuant to all awards under the 2011 Share Incentive Plan is 100,000,000 over 10 years, which could be raised up to 10% of the issued share capital upon shareholders’ approval. As of December 31, 2014 and 2013, 92,621,404 and 94,688,953 ordinary shares remain available for the grant of various share-based awards under the 2011 Share Incentive Plan, respectively. Share Options The Group granted share options to certain personnel under the 2011 Share Incentive Plan during the years ended December 31, 2014, 2013 and 2012, with the exercise price for share options granted in 2014 and 2013 determined at the higher of the closing price on the date of grant and the average closing price for the five trading dates preceding the date of grant of the Company’s ordinary shares trading on the Hong Kong Stock Exchange, while the exercise price for share options granted in 2012 determined at the closing price on the date of grant. These share options became exercisable over vesting periods of three to four years. The share options granted expire 10 years from the date of grant.
The Group uses the Black-Scholes valuation model to determine the estimated fair value for each option granted, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. Expected volatility is based on the historical volatility of the Company’s ADS trading on the NASDAQ Global Select Market. Expected term is based upon the vesting term or the historical of expected term of publicly traded companies. The risk-free interest rate used for each period presented is based on the United States of America Treasury yield curve at the time of grant for the period equal to the expected term. The fair value per option under the 2011 Share Incentive Plan was estimated at the date of grant using the following weighted average assumptions for options granted during the years ended December 31, 2014, 2013 and 2012:
A summary of share options activity under the 2011 Share Incentive Plan as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
A summary of share options vested and expected to vest under the 2011 Share Incentive Plan at December 31, 2014 are presented below:
Note: 1,046,418 share options vested and no share options expired during the year ended December 31, 2014.
The weighted average fair value of share options granted under the 2011 Share Incentive Plan during the years ended December 31, 2014, 2013 and 2012 were $7.11, $4.50 and $2.44, respectively. Share options of 74,394 and 96,930 were exercised and proceeds amounts to $397 and $455 were recognized during the years ended December 31, 2014 and 2013, respectively. The total intrinsic value of share options exercised for the years ended December 31, 2014 and 2013 were $232 and $812, respectively. No share option was exercised for the year ended December 31, 2012. As of December 31, 2014, there was $9,556 unrecognized compensation costs related to unvested share options under the 2011 Share Incentive Plan and the costs were expected to be recognized over a weighted average period of 1.93 years. Restricted Shares The Group has also granted restricted shares to certain personnel under the 2011 Share Incentive Plan during the years ended December 31, 2014, 2013 and 2012. These restricted shares have vesting periods of three to four years. The grant date fair value is determined with reference to the market closing price of the Company’s ADS trading on the NASDAQ Global Select Market at the date of grant.
A summary of the status of the 2011 Share Incentive Plan’s restricted shares as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
The total fair value at date of grant of the restricted shares under the 2011 Share Incentive Plan vested during the years ended December 31, 2014 and 2013 were $3,821 and 1,676, respectively. No restricted shares under the 2011 Share Incentive Plan were vested during the year ended December 31, 2012. As of December 31, 2014, there was $9,785 of unrecognized compensation costs related to restricted shares under the 2011 Share Incentive Plan and the costs were expected to be recognized over a weighted average period of 1.91 years. MCP Share Incentive Plan MCP operates a share incentive plan (the “MCP Share Incentive Plan”) to promote the success and enhance the value of MCP, by linking personal interests of members of the Board, employees and consultants of MCP, its subsidiaries, holding companies and affiliated companies by providing such individuals with an incentive for outstanding performance to generate superior returns to the stockholders of MCP. On June 21, 2013, the MCP Share Incentive Plan, with amendments, were approved by MCP shareholders at MCP annual stockholders meeting and the Company’s shareholders at its extraordinary general meeting respectively. The MCP Share Incentive Plan became effective on June 24, 2013, the date of the Philippine SEC approved such amendments. Under the MCP Share Incentive Plan, MCP may grant various share-based awards, including but not limited to, options to purchase the MCP common shares, restricted shares, share appreciation rights and other types of awards. The term of such awards shall not exceed 10 years from the date of grant. The maximum aggregate number of common shares which may be issued pursuant to all awards under the MCP Share Incentive Plan is 442,630,330 shares and with up to 5% of the issued capital stock of MCP from time to time over 10 years. As of December 31, 2014 and 2013, 57,075,917 and 47,098,936 MCP common shares remain available for the grant of various share-based awards under the MCP Share Incentive Plan, respectively.
Share Options For the year ended December 31, 2014, MCP granted 9,543,186 share options to certain personnel under the MCP Share Incentive Plan, with the exercise price for 4,861,003 share options determined at the higher of the closing price of MCP common shares on the date of grant and the average closing price for the five trading days preceding the date of grant. The exercise price for 4,682,183 share options is fixed at $0.19 per share, with the same exercise price with the share options granted on June 28, 2013 on the bases approved by MCP’s management that these personnel would contribute significantly to the pre-opening of City of Dreams Manila and joined MCP and its subsidiaries (collectively referred to as the “MCP Group”) prior to March 31, 2014. These share options became exercisable over different vesting periods of around three years. For the year ended December 31, 2013, MCP granted share options to certain personnel under the MCP Share Incentive Plan with the exercise price determined at the higher of the closing price of MCP common shares on the date of grant and the average closing price for the five trading days preceding the date of grant. These share options became exercisable over a vesting period of three years, with the first vesting on 30 days after the opening of City of Dreams Manila which were vested on March 4, 2015. All share options granted expire 10 years after the date of grant. MCP uses the Black-Scholes valuation model to determine the estimated fair value for each option granted, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. Expected volatility is based on the historical volatility of a peer group of publicly traded companies. Expected term is based upon the vesting term or the historical of expected term of the Company. The risk-free interest rate used for each period presented is based on the Philippine Government bond yield at the time of grant for the period equal to the expected term. The fair value per option under the MCP Share Incentive Plan was estimated at the date of grant using the following weighted average assumptions for options granted during the years ended December 31, 2014 and 2013:
A summary of share options activity under the MCP Share Incentive Plan as of December 31, 2014, and changes during the years ended December 31, 2014 and 2013 are presented below:
As of December 31, 2014, no share options granted under the MCP Share Incentive Plan were vested and exercisable. A summary of share options expected to vest under the MCP Share Incentive Plan as of December 31, 2014 are presented below:
The weighted average fair value of share options granted under the MCP Share Incentive Plan during the years ended December 31, 2014 and 2013 were $0.14 and $0.09, respectively. As of December 31, 2014, there was $5,445 unrecognized compensation costs related to share options under the MCP Share Incentive Plan and the costs were expected to be recognized over a weighted average period of 1.52 years. Restricted Shares For the year ended December 31, 2014, MCP granted restricted shares to certain personnel under the MCP Share Incentive Plan with vesting periods of around three years. For the year ended December 31, 2013, MCP granted restricted shares to certain personnel under the MCP Share Incentive Plan with a vesting period of three years, with the first vesting on 30 days after the opening of City of Dreams Manila which were vested on March 4, 2015. The grant date fair value is determined with reference to the market closing price of the MCP common shares at the date of grant.
A summary of the status of the MCP Share Incentive Plan’s restricted shares as of December 31, 2014, and changes during the years ended December 31, 2014 and 2013 are presented below:
No restricted shares under the MCP Share Incentive Plan were vested during the years ended December 31, 2014 and 2013. As of December 31, 2014, there was $6,596 unrecognized compensation costs related to restricted shares under the MCP Share Incentive Plan and the costs were expected to be recognized over a weighted average period of 1.59 years. The impact of share options and restricted shares for the Group for the years ended December 31, 2014, 2013 and 2012 recognized in the consolidated financial statements is as follows:
|
X | ||||||||||
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
EMPLOYEE BENEFIT PLANS |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Compensation and Retirement Disclosure [Abstract] | |||
EMPLOYEE BENEFIT PLANS |
The Group provides defined contribution plans for its employees and executive officers in Macau, Hong Kong, the Philippines and certain other jurisdictions. Employees Macau Employees employed by the Group in Macau are members of government-managed Social Security Fund Scheme (the “SSF Scheme”) operated by the Macau Government and the Group is required to pay a monthly fixed contribution to the SSF Scheme to fund the benefits. The obligation of the Group with respect to the SSF Scheme operated by the Macau Government is to make the required contributions under the scheme. The Group provided option for its qualifying employees in Macau to participate in voluntary defined contribution schemes (the “Macau Schemes”) operated by the Group in Macau. The Group contributes a fixed percentage of the eligible employees’ base salaries or fixed amount to the Macau Schemes. The Group’s contributions to the Macau Schemes are vested to employees in accordance to a vesting schedule with full vesting in 10 years from date of employment. The Macau Schemes were established under trust with the assets of the funds held separately from those of the Group by independent trustees in Macau. Hong Kong Employees employed by the Group in Hong Kong and certain employees employed by the Group in other jurisdictions are members of Mandatory Provident Fund Scheme (the “MPF Scheme”) operated by the Group in Hong Kong. The Group is required to contribute a fixed percentage of the employee’s base salaries to the MPF Scheme, which included the Group’s mandatory portion. The excess of contributions over the Group’s mandatory portion are treated as the Group’s voluntary contribution and are vested to the employee in accordance to a vesting schedule with full vesting in 10 years from date of employment. The Group’s mandatory contributions to the MPF Scheme are fully and immediately vested to the employee once they are paid. The MPF Scheme was established under trust with the assets of the funds held separately from those of the Group by an independent trustee in Hong Kong. The Philippines Employees employed by MCP Group in the Philippines are members of government-managed Social Security System Scheme (the “SSS Scheme”) operated by the Philippine Government and MCP Group is required to pay at a certain percentage of the employees’ relevant income and met the minimum mandatory requirements of the SSS Scheme to fund the benefits. The only obligation of MCP Group with respect to the SSS Scheme operated by the Philippine Government is to make the required contributions under the scheme. Other Jurisdictions The Group’s subsidiaries in certain other jurisdictions operate a number of defined contribution schemes. Contributions to the defined contribution schemes applicable to each year are made at a certain percentage of the employees’ payroll and met the minimum mandatory requirements.
Executive Officers Executive officers employed by the Group are members of the MPF Scheme operated by the Group in Hong Kong. The Group is required to contribute a fixed percentage of the executive officers’ base salaries to the MPF scheme, which included the Group’s mandatory portion. The excess of contributions over the Group’s mandatory portion are treated as the Group’s voluntary contribution and are vested to the executive officers in accordance to a vesting schedule with full vesting in 10 years from date of employment. The Group’s mandatory contributions to the MPF scheme are fully and immediately vested to the executive officer once they are paid. The MPF was established under trust with the assets of the funds held separately from those of the Group by an independent trustee in Hong Kong. During the years ended December 31, 2014, 2013 and 2012, the Group’s contributions into the defined contribution plans were $14,823, $8,522 and $5,303, respectively. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
DISTRIBUTION OF PROFITS |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Text Block [Abstract] | |||
DISTRIBUTION OF PROFITS |
All subsidiaries incorporated in Macau are required to set aside a minimum of 10% to 25% of the entity’s profit after taxation to the legal reserve until the balance of the legal reserve reaches a level equivalent to 25% to 50% of the entity’s share capital in accordance with the provisions of the Macau Commercial Code. The legal reserve sets aside an amount from the subsidiaries’ statements of operations and is not available for distribution to the shareholders of the subsidiaries. The appropriation of legal reserve is recorded in the subsidiaries’ financial statements in the year in which it is approved by the Board of Directors of the relevant subsidiaries. As of December 31, 2014 and 2013, the balance of the reserve amounted to $31,202 and $31,201, respectively. The 2011 Credit Facilities contain restrictions which apply on and from June 30, 2011 on paying dividends to the Company or persons who are not members of the 2011 Borrowing Group, unless certain financial tests and conditions are satisfied. Dividends may be paid from (i) excess cash flow as defined in the 2011 Credit Facilities generated by the 2011 Borrowing Group subject to compliance with the financial covenants under the 2011 Credit Facilities; or (ii) cash held by the 2011 Borrowing Group in an amount not exceeding the aggregate cash and cash equivalents investments of the 2011 Borrowing Group as at June 30, 2011 subject to a certain amount of cash and cash equivalents being retained for operating purposes and, in either case, there being no event of default continuing or likely to occur under the 2011 Credit Facilities as a result of making such payment. The indenture governing the 2013 Senior Notes and the 2010 Senior Notes contain certain covenants that, subject to certain exceptions and conditions, restrict the payment of dividends for MCE Finance and its respective restricted subsidiaries. The indenture governing the Studio City Notes also contain certain covenants that, subject to certain exceptions and conditions, restrict the payment of dividends for Studio City Finance and its restricted subsidiaries. The Studio City Project Facility contains certain covenants that, subject to certain exceptions and conditions, restrict the payment of dividends for Studio City Investments and its restricted subsidiaries. |
X | ||||||||||
- Definition The entire disclosure for the terms of any restriction upon retained earnings. This may include restrictions that arise from: (1) the aggregate preferences of the preferred shares exceeding the par or stated value of such shares upon liquidation; (2) dividend restrictions - for example, restrictions on the payment of dividends, indicating the source, the pertinent provision, and the amount of retained earnings or net income restricted or free of restrictions; (3) other appropriations; (4) any restrictions on distributions to shareholders; (5) retained earnings appropriated for loss contingencies; and (6) the amount of consolidated earnings which represents undistributed earnings of 50% or less owned by persons accounted for by the equity method, (7) state laws that govern circumstances under which corporations may acquire its own stock and on the availability of retained earnings for payment of dividends. No definition available.
|
X | ||||||||||
- References No definition available.
|
DIVIDENDS |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 | |||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||
DIVIDENDS |
On February 25, 2014, the Company’s Board of Directors adopted a new dividend policy (the “New Dividend Policy”). Under the New Dividend Policy, subject to the Company’s capacity to pay from accumulated and future earnings and the cash balance and future commitments at the time of declaration of dividend, the Company intends to provide its shareholders with quarterly dividends in an aggregate amount per year of approximately 30% of the Company’s annual consolidated net income attributable to Melco Crown Entertainment Limited, commencing from the first quarter of 2014. The New Dividend Policy also allows the Company to declare special dividends from time to time in addition to the quarterly dividends. On April 16, 2014, the Company paid a special dividend of $0.1147 per share and recorded $189,459 as a distribution against share premium. On June 6, 2014, September 4, 2014 and December 4, 2014, the Company paid quarterly dividends of $0.0431, $0.0259 and $0.0239 per share, respectively, under the New Dividend Policy. During the year ended December 31, 2014, the Company recorded $153,259 as a distribution against retained earnings. The total amount of special and quarterly dividends of $342,718 were paid during the year ended December 31, 2014. On February 12, 2015, a quarterly dividend of $0.0171 per share has been declared by the Board of Directors of the Company and payable on March 16, 2015 to the shareholders of records as of March 4, 2015. During the years ended December 31, 2013 and 2012, the Company did not declare or pay any cash dividends on the ordinary shares. |
X | ||||||||||
- Definition Dividends Disclosure [Text Block] No definition available.
|
X | ||||||||||
- References No definition available.
|
PROVISIONAL LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MCP LEASE AGREEMENT FOR CITY OF DREAMS MANILA |
12 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||
Text Block [Abstract] | |||||||||||||||
PROVISIONAL LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MCP LEASE AGREEMENT FOR CITY OF DREAMS MANILA |
On October 25, 2012, further to the Cooperation Agreement as mentioned in item (b) below, PAGCOR acknowledged the inclusion of, amongst others, MCE Leisure as a co-licensee, as well as the “special purpose entity”, to take effect as of March 13, 2013, the effective date of the Cooperation Agreement, allowing MCE Leisure to be the operator to operate the casino business and as representative for itself and on behalf of the other co-licensees including SM Investments Corporation, SM Land, Inc., SM Hotels and Conventions Corporation, SM Commercial Properties, Inc. and SM Development Corporation (collectively the “SM Group”), PremiumLeisure and Amusement, Inc. (“PLAI”) and Belle under the Provisional License in their dealings with PAGCOR. SM Group, Belle and PLAI are collectively referred to as the “Philippine Parties”. As a result, MCE Holdings (Philippines) Corporation, a direct subsidiary of MCP, and its subsidiaries including MCE Leisure (collectively the “MCE Holdings Group”) and the Philippine Parties together became co-licensees (the “Licensees”) under the Provisional License granted by PAGCOR for the establishment and operation of City of Dreams Manila. The Provisional License, as well as any regular license to be issued to replace it upon satisfaction of certain conditions, is concurrent with section 13 of Presidential Decree No. 1869, will expire on July 11, 2033. Further details of the terms and commitments under the Provisional License are included in Note 23(c).
On March 13, 2013, a cooperation agreement (the “Cooperation Agreement”) and other related arrangements which were entered on October 25, 2012 between MCE Holdings Group and the Philippine Parties became effective upon completion of the closing arrangement conditions with minor changes to the original terms (except for certain provisions which were effective on signing). The Cooperation Agreement governs the relationship and the rights and obligations of the Licensees. Under the Cooperation Agreement, MCE Leisure has been designated as the operator to operate City of Dreams Manila and appointed as the sole and exclusive representative of the Licensees in connection with the Provisional License and the operation and management of City of Dreams Manila until the expiry of the Provisional License (currently expected to be on July 11, 2033 or unless terminated earlier in accordance with its terms). Further details of the commitment under the Cooperation Agreement are included in Note 23(c).
On March 13, 2013, the Licensees entered into an operating agreement (the “Operating Agreement”) which governs the operation and management of City of Dreams Manila by MCE Leisure. The Operating Agreement was effective as of March 13, 2013 and ends on the date of expiry of the Provisional License (as that License is extended, restored or renewed), unless terminated earlier in accordance with the terms of the Operating Agreement. The Provisional License is currently scheduled to expire on July 11, 2033. Under the Operating Agreement, MCE Leisure is appointed as the sole and exclusive operator and manager of City of Dreams Manila, and is responsible for, and has sole discretion (subject to certain exceptions) and control over, all matters relating to the management and operation of City of Dreams Manila (including the casino and gaming operations, hotel and retail components and all other activities necessary, desirable or incidental for the management and operation of City of Dreams Manila). The Operating Agreement also included terms of certain payments to PLAI upon commencement of operations of City of Dreams Manila in December 2014, in particular, PLAI has the right to receive monthly payments from MCE Leisure, based on the performance of gaming operations of City of Dreams Manila, and MCE Leisure has the right to retain all revenues from non-gaming operations of City of Dreams Manila.
On March 13, 2013, the MCP Lease Agreement which was entered on October 25, 2012, and was subsequently amended from time to time, between MCE Leisure and Belle became effective upon completion of closing arrangement conditions and with minor changes from the original terms. Under the MCP Lease Agreement, Belle agreed to lease to MCE Leisure the land and certain of the building structures for City of Dreams Manila. The lease continues until termination of the Operating Agreement (currently expected to be on July 11, 2033 or unless terminated earlier in accordance with its terms). The leased property is used by MCE Leisure and any of its affiliates exclusively as a hotel, casino and resort complex with retail, entertainment, convention, exhibition, food and beverages services as well as other activities ancillary, related or incidental to the operation of any of the preceding uses. Further information in relation to the MCP Lease Agreement was disclosed in Notes 13 and 23(c). |
X | ||||||||||
- Definition The entire disclosure for Provisional License, Cooperation Agreement, Operating Agreement and Lease Agreement for Regional complex. No definition available.
|
X | ||||||||||
- References No definition available.
|
COMMITMENTS AND CONTINGENCIES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
COMMITMENTS AND CONTINGENCIES |
As of December 31, 2014, the Group had capital commitments contracted for but not provided mainly for the construction and acquisition of property and equipment for Studio City, City of Dreams Manila and City of Dreams totaling $1,065,813 including advance payments for construction costs of $107,563.
Operating Leases – As a Lessee The Group leases the portion of land for City of Dreams Manila, Mocha Clubs sites, office space, warehouses, staff quarters and various equipment under non-cancellable operating lease agreements that expire at various dates through July 2033. Those lease agreements provide for periodic rental increases based on both contractual agreed incremental rates and on the general inflation rate once agreed by the Group and its lessor and in some cases contingent rental expenses stated as a percentage of turnover. During the years ended December 31, 2014, 2013 and 2012, the Group incurred rental expenses amounting to $32,829, $21,815 and $18,573, respectively which consisted of minimum rental expenses of $25,374, $17,586 and $15,003 and contingent rental expenses of $7,455, $4,229 and $3,570, respectively. As of December 31, 2014, minimum lease payments under all non-cancellable leases were as follows:
As Grantor of Operating and Right To Use Arrangement The Group entered into non-cancellable operating and right to use agreements mainly for mall spaces in the sites of City of Dreams and City of Dreams Manila with various retailers that expire at various dates through February 2022. Certain of the operating and right to use agreements include minimum base fee with escalated contingent fee clauses. During the years ended December 31, 2014, 2013 and 2012, the Group earned operating and right to use fees amounting to $25,206, $27,287 and $22,906, respectively which consisted of minimum fees of $7,709, $7,724 and $9,005 and contingent fees of $17,497, $19,563 and $13,901, respectively. As of December 31, 2014, minimum future fees to be received under all non-cancellable operating and right to use agreements were as follows:
The total minimum future fees do not include the escalated contingent fee clauses.
Gaming Subconcession On September 8, 2006, the Macau Government granted a gaming subconcession to Melco Crown Macau to operate the gaming business in Macau. Pursuant to the gaming subconcession agreement, Melco Crown Macau has committed to the following:
As a result of the bank guarantees given by the bank to the Macau Government as disclosed in Note 23(c)(vi) above, a sum of 1.75% of the guarantee amount will be payable by Melco Crown Macau quarterly to such bank. Land Concession Contracts The Company’s subsidiaries have entered into concession contracts for the land in Macau on which Altira Macau, City of Dreams and Studio City properties and development projects are located. The title to the land lease right is obtained once the related land concession contract is published in the Macau official gazette. The contracts have a term of 25 years, which is renewable for further consecutive periods of 10 years, subject to payment of a special contribution to be defined by the Macau Government, and impose special development conditions. The Company’s land holding subsidiaries are required to i) pay an upfront land premium, which is recognized as land use right in the consolidated balance sheets and a nominal annual government land use fee, which is recognized as general and administrative expense and may be adjusted every five years; and ii) place a guarantee deposit upon acceptance of the land lease terms, which is subject to adjustments from time to time in line with the amounts paid as annual land use fee. During the land concession term, amendments have been sought which have or will result in revisions to the development conditions, land premium and government land use fees. Altira Macau On December 18, 2013, the Macau Government published in the Macau official gazette the final amendment for revision of the land concession contract for Taipa Land on which Altira Macau is located. The amendment required an additional land premium of approximately $2,449 which was fully paid by Altira Developments in July 2013 (see Note 9). According to the revised land amendment, the government land use fees was revised from approximately $171 per annum to $186 per annum. As of December 31, 2014, the Group’s total commitment for government land use fees for Altira Macau site to be paid during the remaining term of the land concession contract which expires in March 2031 was $3,003. City of Dreams On January 29, 2014, the Macau Government published in the Macau official gazette the final amendment for revision of the land concession contract for Cotai Land on which City of Dreams is located (see Note 9). The amendment required an additional land premium of approximately $23,344, with $8,736 paid in October 2013 upon acceptance of the final amendment proposal and the remaining amount of approximately $14,608 is payable in four biannual instalments, accruing with 5% interest per annum, with the first instalment paid in July 2014. As of December 31, 2014 and 2013, the total outstanding balance of the land premium was included in accrued expenses and other current liabilities in an amount of $7,302 and $3,518, and in land use rights payable in an amount of $3,788 and $11,090, respectively. According to the revised land amendment, the government land use fees will be revised to $1,185 per annum during the development period of additional hotel at City of Dreams; and to $1,235 per annum after the completion of the hotel. As of December 31, 2014, the Group’s total commitment for government land use fees for City of Dreams site to be paid during the remaining term of the land concession contract which expires in August 2033 was $22,800. Studio City On July 25, 2012, the Macau Government published in the Macau official gazette the final amendment for revision of the land concession contract for Studio City Land on which Studio City is located (see Note 9). The amendment revised the land premium to approximately $174,954, with $23,561 paid in 2006 and $35,316 paid in June 2012 upon acceptance of the final amendment proposal and the remaining amount of approximately $116,077 is payable in five biannual instalments, accruing with 5% interest per annum, with the first instalment paid in January 2013. As of December 31, 2014 and 2013, the total outstanding balance of the land premium was included in accrued expenses and other current liabilities in an amount of $24,376 and $46,982, and in land use right payable in an amount of nil and $24,376, respectively. According to the revised land amendment, the government land use fees were revised to $490 per annum during the development period of Studio City; and to $1,131 per annum after the development period. As of December 31, 2014, the Group’s total commitment for government land use fees for Studio City site to be paid during the remaining term of the land concession contract which expires in October 2026 was $11,055. Provisional License Under the terms of the Provisional License, PAGCOR requires, amongst other things, the Licensees to make a total investment of $1,000,000 for City of Dreams Manila (the “Investment Commitment”) with a minimum investment of $650,000 to be made prior to the opening of City of Dreams Manila on December 14, 2014. Under the terms of the Cooperation Agreement, the Licensees’ Investment Commitment of $1,000,000 will be satisfied as follows:
As of December 31, 2014, the Licensees satisfied the minimum investment of $650,000 according to the terms of the Provisional License as mentioned above upon commencement of operations of City of Dreams Manila on December 14, 2014. Other commitments required by PAGCOR under the Provisional License are as follows:
Grounds for revocation of the license, among others, are as follows: (a) failure to comply with material provision of this license; (b) failure to remit license fees within 30 days from receipt of notice of default; (c) has become bankrupt, insolvent; (d) delay in construction of more than 50% of the schedule; and (e) if debt-to-equity ratio is more than 70:30. As of December 31, 2014 and 2013, MCE Holdings Group as one of the parties as Licensees has complied with the required debt-to-equity ratio under definition as agreed with PAGCOR.
Cooperation Agreement Under the terms of the Cooperation Agreement, the Licensees are jointly and severally liable to PAGCOR under the Provisional License and each Licensee (indemnifying Licensee) must indemnify the other Licensees for any loss suffered or incurred by that Licensee arising out of, or in connection with, any breach by the indemnifying Licensee of the Provisional License. Also, each of the Philippine Parties and MCE Holdings Group agree to indemnify the non-breaching party for any loss suffered or incurred as a result of a breach of any warranty. MCP Lease Agreement Under the terms of the MCP Lease Agreement, MCE Leisure shall indemnify and keep Belle fully indemnified against all claims, actions, demands, actions and proceedings made against Belle by any person arising as a result of or in connection with any loss, damage or injury from MCE Leisure’s use and operation of business on the leased property.
Except as disclosed in Note 12 to the consolidated financial statements, the Group has made the following significant guarantees as of December 31, 2014:
On August 12, 2014, a subsidiary’s Taiwan branch office and certain of its employees received indictment from the Taipei District Prosecutors Office for alleged violations of certain Taiwan banking and foreign exchange laws. As of the date of this report, management believes that the Group’s operations in Taiwan are in compliance with Taiwan laws and the indictment would have no immediate material impact on the Group’s business operations or financial position. As of December 31, 2014, the Group is a party to certain other legal proceedings which relate to matters arising out of the ordinary course of its business. Management does not believe that the outcome of such proceedings will have a material effect on the Group’s financial position, results of operations or cash flows. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
RELATED PARTY TRANSACTIONS |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RELATED PARTY TRANSACTIONS |
During the years ended December 31, 2014, 2013 and 2012, the Group entered into the following significant related party transactions:
Notes
Other Related Party Transaction On December 18, 2014, MCE (IP) Holdings Limited (“MCE IP”), an indirect subsidiary of the Company, and Crown Films LLC (“CFL”), a subsidiary of Crown, entered into an assignment agreement, under which CFL agreed to assign exclusively to MCE IP a 50% share of a short film and all related elements at a consideration of $15,619, representing 50% of the total production cost incurred by CFL as at the date of the assignment agreement. The short film would be produced for the purpose of promoting the Company’s properties in Asia and Crown’s properties in Australia.
The outstanding balances arising from operating income or prepayment of operating expenses as of December 31, 2014 and 2013 are as follows:
The maximum amounts outstanding due from Melco’s subsidiary during the years ended December 31, 2014 and 2013 were $1,077 and $1,312, respectively. The maximum amounts outstanding due from Melco’s associated company during the years ended December 31, 2014 and 2013 were $20 and $65, respectively. The maximum amounts outstanding due from Shun Tak Group during the years ended December 31, 2014 and 2013 were $3 and $15, respectively. The outstanding balances due from affiliated companies as of December 31, 2014 and 2013 as mentioned above are unsecured, non-interest bearing and repayable on demand.
The outstanding balances arising from operating expenses and expenses paid by affiliated companies on behalf of the Group as of December 31, 2014 and 2013 are as follows:
The outstanding balances due to affiliated companies as of December 31, 2014 and 2013 as mentioned above are unsecured, non-interest bearing and repayable on demand.
The amount of $79 due to Melco as of December 31, 2013, mainly arising from expenses paid by Melco on behalf of the Group. The balance was unsecured, non-interest bearing and repayable on demand. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SEGMENT INFORMATION |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SEGMENT INFORMATION |
The Group is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines. The chief operating decision maker monitors its operations and evaluates earnings by reviewing the assets and operations of Mocha Clubs, Altira Macau and City of Dreams and the development activities of Studio City and City of Dreams Manila which commenced operations on December 14, 2014. As of December 31, 2012, Mocha Clubs, Altira Macau, City of Dreams and Studio City were the primary businesses of the Group. Upon closing of the various agreements entered between MCP Group and the Philippine Parties for development and operation of City of Dreams Manila and the completion of the placing and subscription transaction of MCP during the year ended December 31, 2013, City of Dreams Manila has become one of the operating segments of the Group as of June 30, 2013. Taipa Square Casino is included within Corporate and Others. The Group’s segment information for total assets and capital expenditures is as follows: Total Assets
Capital Expenditures
The Group’s segment information on its results of operations is as follows:
Note
The Group’s geographic information for long-lived assets is as follows: Long-lived Assets
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
ACQUISITION OF SUBSIDIARIES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACQUISITION OF SUBSIDIARIES |
Acquisition of MCP On December 7, 2012, the Company, through its indirect subsidiaries, MCE (Philippines) Investments Limited (“MCE Investments”) and MCE (Philippines) Investments No.2 Corporation (“MCE Investments No.2”), entered into an acquisition agreement (the “Acquisition Agreement”) with two independent third parties, Interpharma Holdings & Management Corporation and Pharma Industries Holdings Limited (collectively referred to as the “Selling Shareholders”), subject to certain conditions precedent, to acquire from the Selling Shareholders an aggregate of 93.06% of the issued share capital of MCP (the “Proposed Acquisition”). Prior to completion of the Proposed Acquisition on December 19, 2012, MCP sold its two operating subsidiaries, Interphil Laboratories, Inc. and Lancashire Realty Holding Corporation, to the Selling Shareholders (or their affiliates) under the deeds of assignment dated December 7, 2012 between the Selling Shareholders (or their affiliates) and MCP (the “Subsidiary Sale Agreements”), in accordance with the terms of the Acquisition Agreement. The total consideration under the Acquisition Agreement was PHP1,259,000,000 (equivalent to $30,682 based on exchange rate on transaction date) which included i) PHP200,000,000 (equivalent to $4,874 based on exchange rate on transaction date) to the Selling Shareholders, and ii) PHP1,059,000,000 (equivalent to $25,808 based on exchange rate on transaction date) on direction of the Selling Shareholders, to MCP in settlement of the liabilities of the Selling Shareholders (or their affiliates) under the Subsidiary Sale Agreements. On December 19, 2012, MCP retained PHP1,059,000,000 (equivalent to $25,808 based on exchange rate on transaction date), which represented the subsidiaries’ sale amount upon completion of the Proposed Acquisition. On December 19, 2012, the Group completed the acquisition of 93.06% of the issued share capital of MCP. MCP did not have any operation and revenue immediately before the acquisition by the Group and the excess payment of $5,747 for acquisition of assets and liabilities of MCP does not have any measureable future economic benefits to the Group to qualify the recognition requirements of an asset, and was therefore expensed in the consolidated statements of operations and included in development costs. The net assets acquired in the transaction are as follows:
|
X | ||||||||||
- Definition The entire disclosure for acquisition of assets and liabilities completed during the period, including background, timing, and recognized assets and liabilities. No definition available.
|
X | ||||||||||
- References No definition available.
|
CHANGE IN SHAREHOLDING OF THE PHILIPPINE SUBSIDIARIES |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CHANGE IN SHAREHOLDING OF THE PHILIPPINE SUBSIDIARIES |
On April 8, 2013, the Company through its indirect subsidiary, MCE Investments, subscribed for 2,846,595,000 common shares of MCP at total consideration of PHP2,846,595,000 (equivalent to $69,592 based on exchange rate on transaction date), which increased the Company’s shareholding in MCP and the Group recognized an increase of $401 in the Company’s additional paid-in capital which reflects the adjustment to the carrying amount of the noncontrolling interest of MCP. On April 24, 2013, MCP and MCE Investments completed a placing and subscription transaction (the “Placing and Subscription Transaction”), under which MCE Investments offered and sold in a private placement to various institutional investors of 981,183,700 common shares of MCP at the offer price of PHP14 per share (equivalent to $0.34 per share) (the “Offer”). In connection with the Offer, MCE Investments granted an over-allotment option (the “Over-allotment Option”) of up to 117,075,000 common shares of MCP at the offer price of PHP14 per share (equivalent to $0.34 per share) to a stabilizing agent (the “Stabilizing Agent”). MCE Investments then used the proceeds from the Offer to subscribe to an equivalent number of common shares in MCP at the subscription price of PHP14 per share (equivalent to $0.34 per share). On May 23, 2013, the Stabilizing Agent exercised the Over-allotment Option and subscribed for 36,024,600 common shares of MCP at the offer price of PHP14 per share (equivalent to $0.34 per share). MCE Investments then used the proceeds from the Over-allotment Option to subscribe to an equivalent number of common shares in MCP at the subscription price of PHP14 per share (equivalent to $0.34 per share). The aforesaid transactions decreased the Company’s shareholding in MCP and the Group recognized an increase of $227,134 in the Company’s additional paid-in capital which reflects the adjustment to the carrying amount of the noncontrolling interest of MCP. In March and April 2014, there are minor changes in ownership of MCP by the Group. The Company through MCE Investments No.2, a minority shareholder of MCP, acquired additional 400 common shares and 3,000 common shares of MCP under trust arrangements on March 13, 2014 and April 11, 2014, respectively. On March 31, 2014, MCE Investments sold 200 common shares of MCP to two independent directors of MCP. On June 24, 2014, MCP and MCE Investments completed a placing and subscription transaction (the “2014 Placing and Subscription Transaction”), under which MCE Investments offered and sold in a private placement to various institutional investors of 485,177,000 common shares of MCP at the offer price of PHP11.30 per share (equivalent to $0.26 per share) (the “2014 Offer”). MCE Investments then used the proceeds from the 2014 Offer to subscribe to an equivalent number of common shares in MCP at the subscription price of PHP11.30 per share (equivalent to $0.26 per share). The aforesaid transactions decreased the Company’s shareholding in MCP and the Group recognized an increase of $57,293 in the Company’s additional paid-in capital which reflects the adjustment to the carrying amount of the noncontrolling interest of MCP. During the years ended December 31, 2014 and 2013, the total transfers from noncontrolling interests amounted to $57,293 and $227,535 in relation to transactions as described above, respectively. The Group retains its controlling financial interest in MCP before and after the above transactions.
The schedule below discloses the effects of changes in the Company’s ownership interest in MCP on the Company’s equity:
|
X | ||||||||||
- Definition The entire disclosure for change in shareholding of indirect majority owned subsidiary. No definition available.
|
X | ||||||||||
- References No definition available.
|
SUBSEQUENT EVENTS |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||
Subsequent Events [Abstract] | |||||||||
SUBSEQUENT EVENTS |
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
|
ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY | MELCO CROWN ENTERTAINMENT LIMITED ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY BALANCE SHEETS (In thousands of U.S. dollars, except share and per share data)
MELCO CROWN ENTERTAINMENT LIMITED ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF OPERATIONS (In thousands of U.S. dollars)
MELCO CROWN ENTERTAINMENT LIMITED ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (In thousands of U.S. dollars)
MELCO CROWN ENTERTAINMENT LIMITED ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF SHAREHOLDERS’ EQUITY (In thousands of U.S. dollars, except share and per share data)
MELCO CROWN ENTERTAINMENT LIMITED ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY STATEMENTS OF CASH FLOWS (In thousands of U.S. dollars)
MELCO CROWN ENTERTAINMENT LIMITED ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY NOTES TO FINANCIAL STATEMENT SCHEDULE 1 (In thousands of U.S. dollars, except share and per share data)
The condensed financial information has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company has used equity method to account for its investments in subsidiaries. |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation |
The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principles of Consolidation |
The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Use of Estimates |
The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. These estimates and judgements are based on historical information, information that is currently available to the Group and on various other assumptions that the Group believes to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Financial Instruments |
Fair value is defined as the price that would be received to sell the asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The Group estimated the fair values using appropriate valuation methodologies and market information available as of the balance sheet date. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents |
Cash and cash equivalents consist of cash on hand, demand deposits and highly liquid investments which are unrestricted as to withdrawal and use, and which have maturities of three months or less when purchased. Cash and cash equivalents are placed with financial institutions with high-credit ratings and quality. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash |
The current portion of restricted cash represents those cash deposited into bank accounts which are restricted as to withdrawal and use and the Group expects those fund will be released or utilized in accordance with the terms of the respective agreements within the next twelve months, while the non-current portion of restricted cash represents those fund that will not be released or utilized within the next twelve months. Restricted cash as of December 31, 2014 and 2013 comprises i) bank accounts that are restricted for withdrawal and for payment of Studio City project costs in accordance with the terms of the Studio City Notes and Studio City Project Facility as defined in Note 12 and other associated agreements; ii) a subsidiary’s Taiwan branch office’s deposit account in Taiwan which has been frozen by the Taiwanese authority since January 2013 in connection with an investigation related to certain alleged violations of Taiwan banking and foreign exchange laws by certain employees of the Taiwan branch office, with indictment received in August 2014 against the subsidiary’s Taiwan branch office and such employees, further information is included in Note 23(e); iii) cash in escrow account, which was setup in March 2013, that is restricted for payment of City of Dreams Manila project costs in accordance with the terms of the provisional license (the “Provisional License”) as disclosed in Note 22(a) issued by the Philippine Amusement and Gaming Corporation (“PAGCOR”); and iv) interest income earned on restricted cash balance which are restricted as to withdrawal and use. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable and Credit Risk |
Financial instruments that potentially subject the Group to concentrations of credit risk consist principally of casino receivables. The Group issues credit in the form of markers to approved casino customers following investigations of creditworthiness including to its gaming promoters in Macau, which receivable can be offset against commissions payable and any other value items held by the Group to the respective customer and for which the Group intends to set-off when required. As of December 31, 2014 and 2013, a substantial portion of the Group’s markers were due from customers residing in foreign countries. Business or economic conditions, the legal enforceability of gaming debts, or other significant events in foreign countries could affect the collectability of receivables from customers and gaming promoters residing in these countries. Accounts receivable, including casino, hotel and other receivables, are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems it is probable the receivable is uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful debts is maintained to reduce the Group’s receivables to their carrying amounts, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as management’s experience with collection trends in the casino industry and current economic and business conditions. Management believes that as of December 31, 2014 and 2013, no significant concentrations of credit risk existed for which an allowance had not already been recorded. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories |
Inventories consist of retail merchandise, food and beverage items and certain operating supplies, which are stated at the lower of cost or market value. Cost is calculated using the first-in, first-out, average and specific identification methods. Write downs of potentially obsolete or slow-moving inventory are recorded based on management’s specific analysis of inventory. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment, Net |
Property and equipment are stated at cost less accumulated depreciation and amortization. Impairment losses and gains or losses on dispositions of property and equipment are included in operating income. Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. During the construction and development stage of the Group’s casino gaming and entertainment resort facilities, direct and incremental costs related to the design and construction, including costs under the construction contracts, duties and tariffs, equipment installation, shipping costs, payroll and payroll-benefit related costs, depreciation of plant and equipment used, applicable portions of interest and amortization of deferred financing costs, are capitalized in property and equipment. The capitalization of such costs begins when the construction and development of a project starts and ceases once the construction is substantially completed or development activity is suspended for more than a brief period. Depreciation and amortization expense related to capitalized construction costs and other property and equipment is recognized from the time each asset is placed in service. This may occur at different stages as casino gaming and entertainment resort facilities are completed and opened. Property and equipment and other long-lived assets with a finite useful life are depreciated and amortized on a straight-line basis over the asset’s estimated useful life. Estimated useful lives are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capitalization of Interest and Amortization of Deferred Financing Costs |
Interest and amortization of deferred financing costs incurred on funds used to construct the Group’s casino gaming and entertainment resort facilities during the active construction period are capitalized. Interest subject to capitalization primarily includes interest paid or payable on the Group’s long-term debt except for the Aircraft Term Loan as disclosed in Note 12, interest rate swap agreements, the land premium payables for the land use rights where City of Dreams and Studio City are located and the capital lease obligations. The capitalization of interest and amortization of deferred financing costs ceases once a project is substantially completed or development activity is suspended for more than a brief period. The amount to be capitalized is determined by applying the weighted average interest rate of the Group’s outstanding borrowings to the average amount of accumulated qualifying capital expenditures for assets under construction during the year and is added to the cost of the underlying assets and amortized over their respective useful lives. Total interest expenses incurred amounted to $220,974, $183,647 and $120,021, of which $96,884, $30,987 and $10,410 were capitalized for the years ended December 31, 2014, 2013 and 2012, respectively. No amortization of deferred financing costs were capitalized during the years ended December 31, 2014, 2013 and 2012. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gaming Subconcession, Net |
The gaming subconcession is capitalized based on the fair value of the gaming subconcession agreement as of the date of acquisition of Melco Crown (Macau) Limited (“Melco Crown Macau”), an indirect subsidiary of the Company and the holder of the gaming subconcession in Macau, in 2006, and amortized using the straight-line method over the term of agreement which is due to expire in June 2022. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets, Net |
Goodwill represents the excess of acquisition cost over the fair value of tangible and identifiable intangible net assets of any business acquired. Goodwill is not amortized, but is tested for impairment at the reporting unit level on an annual basis, and between annual tests when circumstances indicate that the carrying value of goodwill may not be recoverable. An impairment loss is recognized in an amount equal to the excess of the carrying amount over the implied fair value. Intangible assets other than goodwill are amortized over their useful lives unless their lives are determined to be indefinite in which case they are not amortized. Intangible assets are carried at cost, less accumulated amortization. The Group’s finite-lived intangible asset consists of the gaming subconcession. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives. The Group’s intangible assets with indefinite lives represent Mocha Clubs trademarks, which are tested for impairment on an annual basis or when circumstances indicate that the carrying value of the intangible assets may not be recoverable. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impairment of Long-lived Assets (Other Than Goodwill) |
The Group evaluates the recoverability of long-lived assets with finite lives based on its classification as a) held for sale or b) to be held and used. Several criteria must be met before an asset is classified as held for sale, including that management with the appropriate authority commits to a plan to sell the asset at a reasonable price in relation to its fair value and is actively seeking a buyer. For assets held for sale, the Group recognizes the assets at the lower of carrying value or fair market value less costs to sell, as estimated based on comparable asset sales, offers received, or a discounted cash flow model. For assets to be held and used, the Group evaluates their recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds its fair value. During the year ended December 31, 2014, an impairment loss of $4,146 was recognized mainly due to reconfiguration of the entertainment area at City of Dreams and renovation of the casinos at City of Dreams and Altira Macau and the amount were included in the consolidated statements of operations. No impairment losses were recognized during the years ended December 31, 2013 and 2012. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Financing Costs, Net |
Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized over the terms of the related debt agreements using the effective interest method. Amortization expense of approximately $28,055, $18,159 and $13,272 were recorded during the years ended December 31, 2014, 2013 and 2012, respectively. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Land Use Rights, Net |
Land use rights are recorded at cost less accumulated amortization. Amortization is provided over the estimated lease term of the land on a straight-line basis. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue Recognition and Promotional Allowances |
The Group recognizes revenue at the time persuasive evidence of an arrangement exists, the service is provided or the retail goods are sold, prices are fixed or determinable and collection is reasonably assured. Casino revenues are measured by the aggregate net difference between gaming wins and losses less accruals for the anticipated payouts of progressive slot jackpots, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers’ possession. The Group follows the accounting standards for reporting revenue gross as a principal versus net as an agent, when accounting for operations of Grand Hyatt Macau hotel, Hyatt City of Dreams Manila hotel (collectively the “Hyatt Hotels”) and Taipa Square Casino. For the operations of the Hyatt Hotels, the Group is the owner of the hotels property, and the hotel managers operate the hotels under management agreements providing management services to the Group, and the Group receives all rewards and takes substantial risks associated with the hotels business, it is the principal and the transactions of the Hyatt Hotels are therefore recognized on a gross basis. For the operations of Taipa Square Casino, given the Group operates the casino under a right to use agreement with the owner of the casino premises and has full responsibility for the casino operations in accordance with its gaming subconcession, it is the principal and casino revenue is therefore recognized on a gross basis. Rooms, food and beverage, entertainment, retail and other revenues are recognized when services are performed. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer. Minimum operating and right to use fee, adjusted for contractual base fee and operating fee escalations, are included in entertainment, retail and other revenues and are recognized on a straight-line basis over the terms of the related agreement. Revenues are recognized net of certain sales incentives which are required to be recorded as a reduction of revenue; consequently, the Group’s casino revenues are reduced by discounts, commissions and points earned in customer loyalty programs, such as the player’s club loyalty program. The retail value of rooms, food and beverage, entertainment, retail and other services furnished to guests without charge is included in gross revenues and then deducted as promotional allowances. The estimated cost of providing such promotional allowances for the years ended December 31, 2014, 2013 and 2012 is reclassified from rooms costs, food and beverage costs, entertainment, retail and other services costs and is included in casino expenses as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Point-loyalty Programs |
The Group operates different loyalty programs in certain of its properties to encourage repeat business mainly from loyal slot machine customers and table games patrons. Members earn points primarily based on gaming activity and such points can be redeemed for free play and other free goods and services. The Group accrues for loyalty program points expected to be redeemed for cash and free play as a reduction to gaming revenue and accrues for loyalty program points expected to be redeemed for free goods and services as casino expense. The accruals are based on management’s estimates and assumptions regarding the redemption value, age and history with expiration of unused points resulting in a reduction of the accruals. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gaming Taxes |
The Group is subject to taxes based on gross gaming revenue and other metrics in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes are determined mainly from an assessment of the Group’s gaming revenue and are recorded as an expense within the “Casino” line item in the consolidated statements of operations. These taxes totaled $2,275,610, $2,479,958 and $2,024,697 for the years ended December 31, 2014, 2013 and 2012, respectively. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pre-opening Costs |
Pre-opening costs, consist primarily of marketing expenses and other expenses related to new or start-up operations and are expensed as incurred. The Group has incurred pre-opening costs primarily in connection with City of Dreams Manila and Studio City since December 2012 and July 2011, respectively. The Group also incurs pre-opening costs on other one-off activities related to the marketing of new facilities and operations. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Development Costs |
Development costs include costs associated with the Group’s evaluation and pursuit of new business opportunities, which are expensed as incurred. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advertising and Promotional Expenses |
The Group expenses all advertising and promotional expenses as incurred or the first time the advertising takes place. Advertising and promotional expenses included in the accompanying consolidated statements of operations were $47,906, $43,403 and $40,854 for the years ended December 31, 2014, 2013 and 2012, respectively. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign Currency Transactions and Translations |
All transactions in currencies other than functional currencies of the Company during the year are remeasured at the exchange rates prevailing on the respective transaction dates. Monetary assets and liabilities existing at the balance sheet date denominated in currencies other than functional currencies are remeasured at the exchange rates existing on that date. Exchange differences are recorded in the consolidated statements of operations. The functional currencies of the Company and its major subsidiaries are the United States dollar (“$” or “US$”), the Hong Kong dollar (“HK$”), the Macau Pataca (“MOP”) or the Philippine Peso (“PHP”), respectively. All assets and liabilities are translated at the rates of exchange prevailing at the balance sheet date and all income and expense items are translated at the average rates of exchange over the year. All exchange differences arising from the translation of subsidiaries’ financial statements are recorded as a component of comprehensive income (loss). |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Expenses |
The Group measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award and recognizes that cost over the service period. Compensation is attributed to the periods of associated service and such expense is being recognized on a straight-line basis over the vesting period of the awards. Forfeitures are estimated at the time of grant and actual forfeitures are recognized currently to the extent they differ from the estimate. Further information on the Group’s share-based compensation arrangements is included in Note 18. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax |
The Group is subject to income taxes in Hong Kong, Macau, the United States of America, the Philippines and other jurisdictions where it operates. Deferred income taxes are recognized for all significant temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The components of the deferred tax assets and liabilities are individually classified as current and non-current based on the characteristics of the underlying assets and liabilities. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The Group’s income tax returns are subject to examination by tax authorities in the jurisdictions where it operates. The Group assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. These accounting standards utilize a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely, based solely on the technical merits, of being sustained on examinations. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Melco Crown Entertainment Limited Per Share |
Basic net income attributable to Melco Crown Entertainment Limited per share is calculated by dividing the net income attributable to Melco Crown Entertainment Limited by the weighted average number of ordinary shares outstanding during the year. Diluted net income attributable to Melco Crown Entertainment Limited per share is calculated by dividing the net income attributable to Melco Crown Entertainment Limited by the weighted average number of ordinary shares outstanding during the year adjusted to include the potentially dilutive effect of outstanding share-based awards. The weighted average number of ordinary and ordinary equivalent shares used in the calculation of basic and diluted net income attributable to Melco Crown Entertainment Limited per share consisted of the following:
During the years ended December 31, 2014, 2013 and 2012, 2,519,037, nil and 1,901,136 outstanding share options, and 701,681, nil and nil outstanding restricted shares as at December 31, 2014, 2013 and 2012, respectively, were excluded from the computation of diluted net income attributable to Melco Crown Entertainment Limited per share as their effect would have been anti-dilutive. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting for Derivative Instruments and Hedging Activities |
The Group uses derivative financial instruments such as floating-for-fixed interest rate swap agreements with interest rate fluctuations in accordance with lenders’ requirements under the Group’s Studio City Project Facility and City of Dreams Project Facility (as defined in Note 12), and forward exchange rate contracts to manage its risks associated exchange rate fluctuations for the interest payments of the RMB Bonds (as defined in Note 12). All derivative instruments are recognized in the consolidated financial statements at fair value at the balance sheet date. Any changes in fair value are recorded in the consolidated statements of operations or accumulated other comprehensive income, depending on whether the derivative is designated and qualifies for hedge accounting, the type of hedge transaction and the effectiveness of the hedge. The estimated fair values of interest rate swap agreements and forward exchange rate contracts are based on a standard valuation model that projects future cash flows and discounts those future cash flows to a present value using market-based observable inputs such as interest rate yields and market forward exchange rates. The Group’s outstanding interest rate swap agreements as of December 31, 2014 are disclosed in Note 11. Further information on the Group’s interest rate swap agreements and forward exchange rate contracts are included in Note 12. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income and Accumulated Other Comprehensive Losses |
Comprehensive income includes net income, foreign currency translation adjustments, change in fair value of interest rate swap agreements and forward exchange rate contracts and reclassification to earnings upon settlement of forward exchange rate contracts and is reported in the consolidated statements of comprehensive income. As of December 31, 2014 and 2013, the Group’s accumulated other comprehensive losses consisted of the following:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recent Changes in Accounting Standards |
Newly Adopted Accounting Pronouncements:
Recent Accounting Pronouncements Not Yet Adopted:
|
X | ||||||||||
- Definition Disclosure of accounting policy for capitalization of interest and amortization of deferred financing costs. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for deferred financing costs. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for gaming subconcession which may include the basis and amortization methods of such asset. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for gaming taxes. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for land use rights which may include the basis and amortization methods of such asset. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for pre opening costs. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
|
X | ||||||||||
- Definition Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for cash and cash equivalents with respect to unrestricted balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for comprehensive income. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for derivatives used in hedging relationships, which may include how gains or losses are recognized and presented in the financial statements, and amortization policies for deferred amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
|
X | ||||||||||
- Definition Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for customer loyalty programs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Estimated Useful Lives of Property and Equipment | Estimated useful lives are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Estimated Cost of Providing Promotional Allowances | The estimated cost of providing such promotional allowances for the years ended December 31, 2014, 2013 and 2012 is reclassified from rooms costs, food and beverage costs, entertainment, retail and other services costs and is included in casino expenses as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Weighted Average Number of Ordinary and Ordinary Equivalent Shares Used in Calculation of Basic and Diluted Net Income | The weighted average number of ordinary and ordinary equivalent shares used in the calculation of basic and diluted net income attributable to Melco Crown Entertainment Limited per share consisted of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Group's Accumulated Other Comprehensive Losses | As of December 31, 2014 and 2013, the Group’s accumulated other comprehensive losses consisted of the following:
|
X | ||||||||||
- Definition The portion of casino expenses related to the estimated cost of providing promotional allowances for accommodations, food and beverage, and other services furnished to guests without charge. No definition available.
|
X | ||||||||||
- Definition Schedule Of Estimated Useful Lives Of Property Plant And Equipment Table [Text Block] No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
ACCOUNTS RECEIVABLE, NET (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Accounts Receivable, Net | Components of accounts receivable, net are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Movement of Allowance for Doubtful Debts | Movement of allowance for doubtful debts are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of Accounts Receivable by Age Based on Payment Due Date, Net of Allowance | The following is an analysis of accounts receivable by age presented based on payment due date, net of allowance:
|
X | ||||||||||
- Definition Accounts Receivable Net Past Due [Table Text Block] No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of credit losses for current financing receivables (such as trade and accounts receivable), including a rollforward of the balance. An alternative caption includes allowance for doubtful accounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
PROPERTY AND EQUIPMENT, NET (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Property and Equipment, Net |
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
GAMING SUBCONCESSION, NET (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Gaming Subconcession, Net |
|
X | ||||||||||
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Prepayments, Deposits and Other Assets | Long-term prepayments, deposits and other assets consisted of the following:
|
X | ||||||||||
- Definition Schedule of Long Term Prepayment Deposits and Other Assets. No definition available.
|
X | ||||||||||
- References No definition available.
|
LAND USE RIGHTS, NET (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Land Use Rights, Net |
|
X | ||||||||||
- Definition Tabular disclosure of the gross carrying value of land use rights, the total amortization and the net carrying value as of the balance sheet date. No definition available.
|
X | ||||||||||
- References No definition available.
|
ACCOUNTS PAYABLE (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aged Analysis of Accounts Payable Based on Payment Due Date | The following is an aged analysis of accounts payable presented based on payment due date:
|
X | ||||||||||
- Definition Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. No definition available.
|
X | ||||||||||
- References No definition available.
|
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Payables and Accruals [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accrued Expenses and Other Current Liabilities |
|
X | ||||||||||
- Definition Schedule Of Accrued Expenses And Other Current Liabilities Table [Text Block] No definition available.
|
X | ||||||||||
- References No definition available.
|
LONG-TERM DEBT, NET (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Long-Term Debt, Net | Long-term debt, net consisted of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Interest on Long-Term Debt | Total interest on long-term debt consisted of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Scheduled Maturities of Long-Term Debt | Scheduled maturities of the long-term debt as of December 31, 2014 are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Long-Term Debt Repayable | The long-term debt are repayable as follows:
|
X | ||||||||||
- Definition Tabular disclosure of the interest for various types of debt instruments, the amount capitalized or charged against earnings. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of various types of long-term debt. Presentation is categorized by current and noncurrent. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest fiscal year. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
CAPITAL LEASE OBLIGATIONS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Future Minimum Lease Payments under Capital Lease Obligations | Future minimum lease payments under capital lease obligations for the Group as of December 31, 2014 are as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
OTHER LONG-TERM LIABILITIES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Long-Term Liabilities |
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of other noncurrent liabilities. No definition available.
|
INCOME TAXES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Provision for Income Tax | The provision for income tax consisted of:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Reconciliation of Income Tax Expense (Credit) to Income Before Income Tax | A reconciliation of the income tax expense (credit) to income before income tax per the consolidated statements of operations is as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Deferred Tax Liabilities | The net deferred tax liabilities as of December 31, 2014 and 2013 consisted of the following:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SHARE-BASED COMPENSATION (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of Share Options and Restricted Shares | The impact of share options and restricted shares for the Group for the years ended December 31, 2014, 2013 and 2012 recognized in the consolidated financial statements is as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2006 Share Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Options Activity | A summary of share options activity under the 2006 Share Incentive Plan as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Options Vested and Expected to Vest | A summary of share options vested under the 2006 Share Incentive Plan at December 31, 2014 are presented below:
Note: 1,615,101 share options vested and 6,087 share options expired during the year ended December 31, 2014. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Restricted Shares Activity | A summary of the status of the 2006 Share Incentive Plan’s restricted shares as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2011 Share Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Options Activity | A summary of share options activity under the 2011 Share Incentive Plan as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Options Vested and Expected to Vest | A summary of share options vested and expected to vest under the 2011 Share Incentive Plan at December 31, 2014 are presented below:
Note: 1,046,418 share options vested and no share options expired during the year ended December 31, 2014.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Restricted Shares Activity | A summary of the status of the 2011 Share Incentive Plan’s restricted shares as of December 31, 2014, and changes during the years ended December 31, 2014, 2013 and 2012 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Assumptions Used to Estimate Fair Value of Stock Options | The fair value per option under the 2011 Share Incentive Plan was estimated at the date of grant using the following weighted average assumptions for options granted during the years ended December 31, 2014, 2013 and 2012:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MCP Share Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Options Activity | A summary of share options activity under the MCP Share Incentive Plan as of December 31, 2014, and changes during the years ended December 31, 2014 and 2013 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Options Vested and Expected to Vest | A summary of share options expected to vest under the MCP Share Incentive Plan as of December 31, 2014 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Restricted Shares Activity | A summary of the status of the MCP Share Incentive Plan’s restricted shares as of December 31, 2014, and changes during the years ended December 31, 2014 and 2013 are presented below:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Assumptions Used to Estimate Fair Value of Stock Options | The fair value per option under the MCP Share Incentive Plan was estimated at the date of grant using the following weighted average assumptions for options granted during the years ended December 31, 2014 and 2013:
|
X | ||||||||||
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
COMMITMENTS AND CONTINGENCIES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum Lease Payments under Non-Cancellable Leases | As of December 31, 2014, minimum lease payments under all non-cancellable leases were as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum Future Fees to be Received under Non-Cancellable Operating and Right to Use Agreements | As of December 31, 2014, minimum future fees to be received under all non-cancellable operating and right to use agreements were as follows:
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
RELATED PARTY TRANSACTIONS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Significant Related Party Transactions | During the years ended December 31, 2014, 2013 and 2012, the Group entered into the following significant related party transactions:
Notes
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Balances Arising from Operating Income or Prepayment of Operating Expenses | The outstanding balances arising from operating income or prepayment of operating expenses as of December 31, 2014 and 2013 are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Balances Arising from Operating Expenses | The outstanding balances arising from operating expenses and expenses paid by affiliated companies on behalf of the Group as of December 31, 2014 and 2013 are as follows:
|
X | ||||||||||
- Definition Schedule Of Related Party Transactions Payables Table [Text Block] No definition available.
|
X | ||||||||||
- Definition Schedule Of Related Party Transactions Receivables Table [Text Block] No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. No definition available.
|
SEGMENT INFORMATION (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Expenditures | Capital Expenditures
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Results of Operations of Segments | The Group’s segment information on its results of operations is as follows:
Note
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Lived Assets | Long-lived Assets
|
X | ||||||||||
- Definition Schedule Of Capital Expenditures By Segment Table [Text Block] No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
ACQUISITION OF SUBSIDIARIES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Assets Acquired | The net assets acquired in the transaction are as follows:
|
X | ||||||||||
- Definition Tabular disclosure of material acquisition of assets and liabilities completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leverage buyout. No definition available.
|
X | ||||||||||
- References No definition available.
|
CHANGE IN SHAREHOLDING OF THE PHILIPPINE SUBSIDIARIES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Text Block [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effects of Changes in Company's Ownership Interest | The schedule below discloses the effects of changes in the Company’s ownership interest in MCP on the Company’s equity:
|
X | ||||||||||
- Definition The tabular disclosure of the effects of any changes in a parent's ownership interest in a subsidiary on the equity attributable to the parent if the ownership interests in a subsidiary changes during the period. The changes represented by this element did not result in the deconsolidation of the subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Useful Lives of Property and Equipment (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2014 | |
Buildings [Member] | Minimum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 7 years |
Buildings [Member] | Maximum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 25 years |
Transportation [Member] | Minimum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 5 years |
Transportation [Member] | Maximum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 10 years |
Leasehold improvements [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 3 to 10 years or over the lease term, whichever is shorter |
Furniture, fixtures and equipment [Member] | Minimum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 2 years |
Furniture, fixtures and equipment [Member] | Maximum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 10 years |
Plant and gaming machinery [Member] | Minimum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 3 years |
Plant and gaming machinery [Member] | Maximum [Member] | |
Property and Equipment [Line Items] | |
Estimated Useful Lives | 5 years |
X | ||||||||||
- Definition Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Schedule Of Significant Accounting Policies [Line Items] | |||
Interest expenses incurred | $ 220,974,000 | $ 183,647,000 | $ 120,021,000 |
Interest expenses capitalized | 96,884,000 | 30,987,000 | 10,410,000 |
Amortization of deferred financing cost, capitalized | 0 | 0 | 0 |
Impairment loss recognized on property and equipment | (4,146,000) | 0 | 0 |
Amortization of deferred financing costs | 28,055,000 | 18,159,000 | 13,272,000 |
Gaming taxes | 2,275,610,000 | 2,479,958,000 | 2,024,697,000 |
Total advertising and promotional expenses | $ 47,906,000 | 43,403,000 | $ 40,854,000 |
Percentage of tax benefit greater than likelihood | 50.00% | ||
Deferred financing costs, net | $ 3,089,000 | 5,078,000 | |
Current portion of unamortized deferred financing costs | 1,653,000 | 2,515,000 | |
Adjustments for New Accounting Pronouncement [Member] | Scenario, Previously Reported [Member] | Long Term Prepayment Deposits and Other Assets [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Deferred financing costs, net | 3,089,000 | 5,078,000 | |
Adjustments for New Accounting Pronouncement [Member] | Scenario, Previously Reported [Member] | Long Term Debt Net [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Deferred financing costs, net | 170,130,000 | 106,838,000 | |
Adjustments for New Accounting Pronouncement [Member] | Scenario, Previously Reported [Member] | Current Portion of Long Term Debt Net [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Deferred financing costs, net | 1,653,000 | 2,515,000 | |
Adjustments for New Accounting Pronouncement [Member] | Restatement Adjustment [Member] | Long Term Prepayment Deposits and Other Assets [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Deferred financing costs, net | 3,089,000 | 5,078,000 | |
Adjustments for New Accounting Pronouncement [Member] | Restatement Adjustment [Member] | Long Term Debt Net [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Non-current portion of unamortized deferred financing costs | 170,130,000 | 106,838,000 | |
Adjustments for New Accounting Pronouncement [Member] | Restatement Adjustment [Member] | Current Portion of Long Term Debt Net [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Current portion of unamortized deferred financing costs | $ 1,653,000 | $ 2,515,000 | |
Share options [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Outstanding shares excluded from the computation of diluted net income | 2,519,037 | 0 | 1,901,136 |
Restricted shares [Member] | |||
Schedule Of Significant Accounting Policies [Line Items] | |||
Outstanding shares excluded from the computation of diluted net income | 701,681 | 0 | 0 |
X | ||||||||||
- Definition Represents the charge against earnings during the period for debt issuance expenses. No definition available.
|
X | ||||||||||
- Definition Amount of deferred financing costs amortization capitalized. No definition available.
|
X | ||||||||||
- Definition Gaming Tax Expense Benefit No definition available.
|
X | ||||||||||
- Definition Percentage Of Tax Benefit Greater Than Likelihood No definition available.
|
X | ||||||||||
- Definition Schedule Of Significant Accounting Policies [Line Items] No definition available.
|
X | ||||||||||
- Definition Amount of unamortized debt discount (premium) and debit issuance cost to be amortized within one year. No definition available.
|
X | ||||||||||
- Definition Amount of unamortized debt discount (premium) and debit issuance cost to be amortized after one year. No definition available.
|
X | ||||||||||
- Definition Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) from the difference between the sale price or salvage price and the book value of an asset that was sold or retired, and gain (loss) from the write down of assets from their carrying value to fair value. No definition available.
|
X | ||||||||||
- Definition Amount of interest capitalized during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total interest costs incurred during the period and either capitalized or charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Cost of Providing Promotional Allowances (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Other Income and Expenses [Abstract] | |||
Rooms | $ 22,282 | $ 19,828 | $ 16,819 |
Food and beverage | 53,941 | 43,838 | 39,014 |
Entertainment, retail and others | 7,683 | 8,301 | 7,238 |
Total casino expenses | $ 83,906 | $ 71,967 | $ 63,071 |
X | ||||||||||
- Definition The portion of casino expenses related to the estimated cost of providing promotional allowances for accommodations, food and beverage, and other services furnished to guests without charge. No definition available.
|
X | ||||||||||
- Definition The portion of casino expenses related to the estimated cost of providing promotional allowances for entertainment, retail and other services furnished to guests without charge. No definition available.
|
X | ||||||||||
- Definition The portion of casino expenses related to the estimated cost of providing promotional allowances for food and beverage furnished to guests without charge. No definition available.
|
X | ||||||||||
- Definition The portion of casino expenses related to the estimated cost of providing promotional allowances for accommodations furnished to guests without charge. No definition available.
|
X | ||||||||||
- References No definition available.
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Weighted Average Number of Ordinary and Ordinary Equivalent Shares Used in Calculation of Basic and Diluted Net Income (Detail) - shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Earnings Per Share [Abstract] | |||
Weighted average number of ordinary shares outstanding used in the calculation of basic net income attributable to Melco Crown Entertainment Limited per share | 1,647,571,547 | 1,649,678,643 | 1,645,346,902 |
Incremental weighted average number of ordinary shares from assumed vesting of restricted shares and exercise of share options using the treasury stock method | 12,931,583 | 14,519,448 | 12,916,094 |
Weighted average number of ordinary shares outstanding used in the calculation of diluted net income attributable to Melco Crown Entertainment Limited per share | 1,660,503,130 | 1,664,198,091 | 1,658,262,996 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Components of Group's Accumulated Other Comprehensive Losses (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Equity [Abstract] | ||
Foreign currency translation adjustment | $ (17,130) | $ (15,592) |
Change in the fair value of interest rate swap agreements | (19) | 0 |
Accumulated Other Comprehensive Income (Loss) | $ (17,149) | $ (15,592) |
X | ||||||||||
- Definition Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
ACCOUNTS RECEIVABLE, NET - Components of Accounts Receivable, Net (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
Dec. 31, 2011 |
---|---|---|---|---|
Accounts Receivable [Line Items] | ||||
Accounts receivable, gross | $ 422,451 | $ 431,214 | ||
Less: allowance for doubtful debts | (168,786) | (143,334) | $ (113,264) | $ (86,775) |
Accounts receivable, net | 253,665 | 287,880 | ||
Casino [Member] | ||||
Accounts Receivable [Line Items] | ||||
Accounts receivable, gross | 414,515 | 423,963 | ||
Hotel [Member] | ||||
Accounts Receivable [Line Items] | ||||
Accounts receivable, gross | 1,728 | 1,353 | ||
Other [Member] | ||||
Accounts Receivable [Line Items] | ||||
Accounts receivable, gross | $ 6,208 | $ 5,898 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amounts due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
ACCOUNTS RECEIVABLE, NET - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Accounts Receivable [Line Items] | |||
Additional allowance for doubtful debts, net of recoveries | $ 29,979 | $ 43,750 | $ 26,566 |
Accounts receivable written off | $ 7,690 | $ 549 | $ 1,850 |
Gaming promoters [Member] | |||
Accounts Receivable [Line Items] | |||
Credit period, days | 30 days | ||
Other approved casino customers [Member] | Minimum [Member] | |||
Accounts Receivable [Line Items] | |||
Credit period, days | 14 days | ||
Other approved casino customers [Member] | Maximum [Member] | |||
Accounts Receivable [Line Items] | |||
Credit period, days | 28 days | ||
Casino customers with large gaming losses and established credit history [Member] | |||
Accounts Receivable [Line Items] | |||
Credit period, days | 90 days |
X | ||||||||||
- Definition Amount of direct write-downs of accounts receivable charged against earnings. No definition available.
|
X | ||||||||||
- Definition Credit period granted to customers during the period. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in the allowance for doubtful accounts. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
ACCOUNTS RECEIVABLE, NET - Movement of Allowance for Doubtful Debts (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Receivables [Abstract] | |||
At beginning of year | $ 143,334 | $ 113,264 | $ 86,775 |
Additional allowance, net of recoveries | 29,979 | 43,750 | 26,566 |
Reclassified to long-term receivables, net | (4,527) | (13,680) | (77) |
At end of year | $ 168,786 | $ 143,334 | $ 113,264 |
X | ||||||||||
- Definition Reclassification of allowance for doubtful accounts receivable from (to) long-term receivables. No definition available.
|
X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in the allowance for doubtful accounts. No definition available.
|
X | ||||||||||
- References No definition available.
|
ACCOUNTS RECEIVABLE, NET - Analysis of Accounts Receivable by Age Based on Payment Due Date, Net of Allowance (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Receivables [Abstract] | ||
Current | $ 155,172 | $ 187,377 |
1-30 days | 52,574 | 57,727 |
31-60 days | 18,719 | 11,607 |
61-90 days | 3,937 | 11,878 |
Over 90 days | 23,263 | 19,291 |
Accounts receivable, net | $ 253,665 | $ 287,880 |
X | ||||||||||
- Definition Accounts receivable net of allowance that are greater than 90 days past due. No definition available.
|
X | ||||||||||
- Definition Accounts receivable net of allowance that are current. No definition available.
|
X | ||||||||||
- Definition Accounts receivable net of allowance that are equal to or less than 30 days past due. No definition available.
|
X | ||||||||||
- Definition Accounts receivable net of allowance that are equal to or less than 90 days past due but more than 60 days past due. No definition available.
|
X | ||||||||||
- Definition Accounts receivable net of allowance that are equal to or less than 60 days past due but more than 30 days past due. No definition available.
|
X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
ASSETS HELD FOR SALE - Additional Information (Detail) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Nov. 20, 2013
USD ($)
|
Nov. 20, 2013
HKD
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
Nov. 20, 2013
HKD
|
|
Asset Retirement Obligation Disclosure [Abstract] | ||||||
Total consideration of properties disposed | $ 30,848 | HKD 240,000,000 | ||||
Proceeds from deposits on sale of assets held for sale | $ 1,285 | HKD 10,000,000 | $ 0 | $ 1,285 | $ 0 | |
Sale of properties completion date | Feb. 18, 2014 | |||||
Gain on disposal of assets held for sale | $ 22,072 | 0 | $ 0 | |||
Net carrying value of the properties held for sale | $ 0 | $ 8,468 |
X | ||||||||||
- Definition Total consideration for disposal of assets held for sale. No definition available.
|
X | ||||||||||
- Definition Amount before tax of gain (loss) on sale or disposal of assets held for sale. No definition available.
|
X | ||||||||||
- Definition Cash inflow related to receipts of deposits on sale of assets held for sale. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Date the entity disposed of a business or a group of assets, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition Amount classified as property, plant and equipment attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
PROPERTY AND EQUIPMENT, NET - Components of Property and Equipment, Net (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Property and Equipment, Net | ||
Cost | $ 6,106,705 | $ 4,505,571 |
Less: accumulated depreciation and amortization | (1,410,314) | (1,196,725) |
Property and equipment, net | 4,696,391 | 3,308,846 |
Buildings [Member] | ||
Property and Equipment, Net | ||
Cost | 2,693,256 | 2,693,753 |
Furniture, fixtures and equipment [Member] | ||
Property and Equipment, Net | ||
Cost | 607,423 | 449,732 |
Leasehold improvements [Member] | ||
Property and Equipment, Net | ||
Cost | 588,454 | 265,808 |
Plant and gaming machinery [Member] | ||
Property and Equipment, Net | ||
Cost | 197,740 | 162,763 |
Transportation [Member] | ||
Property and Equipment, Net | ||
Cost | 84,441 | 64,687 |
Construction in progress [Member] | ||
Property and Equipment, Net | ||
Cost | $ 1,935,391 | $ 868,828 |
X | ||||||||||
- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Property, Plant and Equipment [Abstract] | |||
Costs capitalized to construction in progress | $ 219,141 | $ 102,246 | |
Additions to property and equipment | 1,637,305 | 912,355 | $ 283,998 |
Disposals of property and equipment | 5,667 | 2,822 | $ 1,310 |
Cost of property and equipment held under capital lease | 265,781 | 266,540 | |
Accumulated depreciation and amortization of property and equipment held under capital lease | $ 711 | $ 115 |
X | ||||||||||
- Definition Amount of accumulated interest and finance costs and other direct incidental costs capitalized as part of construction in progress. No definition available.
|
X | ||||||||||
- Definition Amount before accumulated depreciation of leased physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total charge for the use of long-lived depreciable assets subject to a lease meeting the criteria for capitalization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
GAMING SUBCONCESSION, NET - Schedule of Gaming Subconcession, Net (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Deemed cost | $ 900,000 | $ 900,000 |
Less: accumulated amortization | (472,206) | (414,969) |
Gaming subconcession, net | $ 427,794 | $ 485,031 |
X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
GAMING SUBCONCESSION, NET - Additional Information (Detail) $ in Thousands |
Dec. 31, 2014
USD ($)
|
---|---|
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization of gaming subconcession, year 2015 | $ 57,237 |
Amortization of gaming subconcession, year 2016 | 57,237 |
Amortization of gaming subconcession, year 2017 | 57,237 |
Amortization of gaming subconcession, year 2018 | 57,237 |
Amortization of gaming subconcession, year 2019 | 57,237 |
Amortization of gaming subconcession, year 2020 | 57,237 |
Amortization of gaming subconcession, year 2021 | 57,237 |
Amortization of gaming subconcession, year 2022 | $ 27,135 |
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the eighth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the seventh fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the sixth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
GOODWILL AND INTANGIBLE ASSETS, NET - Additional Information (Detail) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Recognized impairment loss | $ 0 | $ 0 | $ 0 |
X | ||||||||||
- Definition Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
X | ||||||||||
- References No definition available.
|
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS - Schedule of Long-Term Prepayments, Deposits and Other Assets (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Long Term Prepayment Deposits and Other Assets [Abstract] | ||
Entertainment production costs | $ 73,819 | $ 72,853 |
Less: accumulated amortization | (34,646) | (26,416) |
Entertainment production costs, net | 39,173 | 46,437 |
Advance payments for construction costs | 107,563 | 161,633 |
Deposits for acquisition of property and equipment | 47,158 | 15,694 |
Input value-added tax, net | 43,841 | 0 |
Other deposits and other long-term prepayments | 39,708 | 35,747 |
Long-term receivables, net | 10,115 | 6,250 |
Deferred financing costs, net | 3,089 | 5,078 |
Prepayment of deferred financing costs | 0 | 79,906 |
Long-term prepayments, deposits and other assets | $ 290,647 | $ 350,745 |
X | ||||||||||
- Definition Accumulated amortization of entertainment production costs as of balance sheet date. No definition available.
|
X | ||||||||||
- Definition Advance payments for construction costs. No definition available.
|
X | ||||||||||
- Definition Long Term Entertainment Production Cost Gross No definition available.
|
X | ||||||||||
- Definition Long Term Entertainment Production Cost Net No definition available.
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of amounts paid in advance which will be charged against earnings in periods after one year or beyond the operating cycle, if longer; deposits transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer; and aggregate carrying amount of other noncurrent assets not separately disclosed in the balance sheet that are expected to be realized or consumed after one year (or the normal operating cycle, if longer). No definition available.
|
X | ||||||||||
- Definition Long Term Prepayment Deposits and Other Assets [Abstract] No definition available.
|
X | ||||||||||
- Definition Other Deposits And Other Long Term Prepayments No definition available.
|
X | ||||||||||
- Definition Prepayment Of Deferred Financing Cost No definition available.
|
X | ||||||||||
- Definition Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle) and amount due to the Entity from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such investments and receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of value added taxes due either from customers arising from sales on credit terms, or as previously overpaid to tax authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Schedule Of Long Term Prepayment Deposits And Other Assets [Line Items] | |||
Useful life of the entertainment | Over 10 years or the respective useful life of the entertainment show, whichever is shorter. | ||
Accounts receivables reclassified from (to) long-term receivables | $ (8,642) | $ (17,691) | $ 401 |
Reclassified from (to) long-term receivables, net | (4,527) | (13,680) | $ (77) |
Financing Receivables Over 90 Days [Member] | Casino customers with large gaming losses and established credit history [Member] | |||
Schedule Of Long Term Prepayment Deposits And Other Assets [Line Items] | |||
Allowance for doubtful debts | $ 24,848 | $ 20,321 |
X | ||||||||||
- Definition Accounts receivable reclassified from (to) long-term receivables during the year. No definition available.
|
X | ||||||||||
- Definition Reclassification of allowance for doubtful accounts receivable from (to) long-term receivables. No definition available.
|
X | ||||||||||
- Definition Schedule Of Long Term Prepayment Deposits And Other Assets [Line Items] No definition available.
|
X | ||||||||||
- Definition For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amortization method of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar either by their nature or by their use in the operations of a company. The straight-line method is the preferred amortization method, unless another method better reflects the pattern in which the asset is consumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LAND USE RIGHTS, NET - Schedule of Land Use Rights, Net (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Land Use Rights [Line Items] | ||
Land use rights, gross | $ 1,199,617 | $ 1,199,576 |
Less: accumulated amortization | (312,429) | (247,958) |
Land use rights, net | 887,188 | 951,618 |
Altira Macau - Taipa Land [Member] | ||
Land Use Rights [Line Items] | ||
Land use rights, gross | 146,475 | 146,434 |
City of Dreams - Cotai Land [Member] | ||
Land Use Rights [Line Items] | ||
Land use rights, gross | 399,578 | 399,578 |
Studio City - Studio City Land [Member] | ||
Land Use Rights [Line Items] | ||
Land use rights, gross | $ 653,564 | $ 653,564 |
X | ||||||||||
- Definition Accumulated amount of amortization of land use rights. No definition available.
|
X | ||||||||||
- Definition Gross amounts as of the balance sheet date of amounts paid or payable for the use of land that is expected to provide economic benefit for more than one year. No definition available.
|
X | ||||||||||
- Definition Land Use Rights [Line Items] No definition available.
|
X | ||||||||||
- Definition Carrying amounts as of the balance sheet date of amounts paid or payable for the use of land that is expected to provide economic benefit for more than one year. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LAND USE RIGHTS, NET - Additional Information (Detail) - USD ($) $ in Thousands |
1 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jan. 29, 2014 |
Oct. 16, 2013 |
Jul. 15, 2013 |
Mar. 31, 2013 |
Jan. 31, 2013 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Land Use Rights [Line Items] | ||||||||
Payment for land use rights | $ 50,541 | $ 64,297 | $ 53,830 | |||||
Altira Macau - Taipa Land [Member] | ||||||||
Land Use Rights [Line Items] | ||||||||
Additional land premium | $ 2,449 | |||||||
Payment for land use rights | $ 2,449 | |||||||
City of Dreams - Cotai Land [Member] | ||||||||
Land Use Rights [Line Items] | ||||||||
Additional land premium | $ 23,344 | $ 23,344 | ||||||
Payment for land use rights | $ 8,736 |
X | ||||||||||
- Definition Additional land premium paid or payable to the Macau Government for revision of the terms of the land lease agreement. No definition available.
|
X | ||||||||||
- Definition Land Use Rights [Line Items] No definition available.
|
X | ||||||||||
- Definition The cash outflow associated with the payment of land use rights. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
ACCOUNTS PAYABLE - Schedule of Aged Analysis of Accounts Payable Based on Payment Due (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Accounts Payable [Abstract] | ||
Within 30 days | $ 12,319 | $ 8,429 |
31-60 days | 691 | 341 |
61-90 days | 381 | 478 |
Over 90 days | 1,037 | 577 |
Accounts payable, net | $ 14,428 | $ 9,825 |
X | ||||||||||
- Definition Accounts Payable Due Over Ninety Days No definition available.
|
X | ||||||||||
- Definition Accounts Payable Due Sixty One Days To Ninety Days No definition available.
|
X | ||||||||||
- Definition Accounts Payable Due Thirty One Days To Sixty Days No definition available.
|
X | ||||||||||
- Definition Accounts Payable Undue And Due Thirty Days No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Outstanding gaming chips and tokens | $ 237,013 | $ 263,663 |
Gaming tax accruals | 171,460 | 238,920 |
Construction costs payables | 169,053 | 69,057 |
Staff cost accruals | 117,049 | 85,118 |
Customer deposits and ticket sales | 80,898 | 80,421 |
Property and equipment payables | 70,957 | 24,354 |
Operating expense and other accruals and liabilities | 70,295 | 57,032 |
Interest expenses payable | 33,544 | 30,529 |
Land use rights payable | 31,678 | 50,500 |
Other gaming related accruals | 23,754 | 29,157 |
Interest rate swap liabilities | 19 | 0 |
Total Accrued Expenses and Other Current Liabilities | $ 1,005,720 | $ 928,751 |
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer); and the aggregate carrying amount of current obligations not separately disclosed in the balance sheet that are expected to be paid within one year. No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of outstanding gaming chips and tokens. No definition available.
|
X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which were included in accrued expenses and other current liabilities. No definition available.
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date for taxes payable (due within one year or within one normal operating cycle, if longer) based on gross gaming revenue in the jurisdictions in which we operate, subject to applicable jurisdictional adjustments. No definition available.
|
X | ||||||||||
- Definition Land Use Right Payable Current No definition available.
|
X | ||||||||||
- Definition Other gaming related accruals current. No definition available.
|
X | ||||||||||
- Definition The current portion of payables for acquisition of property and equipment. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable for the acquisition of merchandise, materials, supplies and services pertaining to construction projects such as a housing development or factory expansion not classified as trade payables. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The current portion of money or property received from customers which is either to be returned upon satisfactory contract completion or applied to customer receivables in accordance with the terms of the contract or the understandings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Additional Information (Detail) $ in Thousands |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
HKD
|
Sep. 30, 2014 |
Dec. 31, 2013
USD ($)
|
|
Derivative [Line Items] | ||||
Fair value of interest rate swap liabilities - current | $ 19 | $ 0 | ||
Studio City Project Facility [Member] | ||||
Derivative [Line Items] | ||||
Interest rate swap agreements, expiry date | All these interest rate swap agreements will expire in March 2015. | |||
Studio City Project Facility [Member] | Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Fixed interest rate per annum on notional amount of interest rate swap agreements | 0.28% | |||
Notional amounts of outstanding interest rate swap agreements | $ 240,000 | HKD 1,867,199,900 |
X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which were included in accrued expenses and other current liabilities. No definition available.
|
X | ||||||||||
- Definition Interest rate swap agreements expiration date. No definition available.
|
X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Long-Term Debt [Line Items] | ||
Long-term debt, net | $ 3,730,998 | $ 2,424,107 |
Current portion of long-term debt, net | (261,097) | (260,051) |
Non current portion of long-term debt, net | 3,469,901 | 2,164,056 |
Total Credit Facility [Member] | Studio City Project Facility [Member] | ||
Long-Term Debt [Line Items] | ||
Long-term debt, net | 1,223,954 | 0 |
Total Credit Facility [Member] | 2011 Credit Facilities [Member] | ||
Long-Term Debt [Line Items] | ||
Long-term debt, net | 414,479 | 667,281 |
Term Loan Facility [Member] | Aircraft Term Loan [Member] | ||
Long-Term Debt [Line Items] | ||
Long-term debt, net | 28,731 | 34,577 |
Senior Notes [Member] | 2013 Senior Notes [Member] | ||
Long-Term Debt [Line Items] | ||
Long-term debt, net | 926,389 | 916,895 |
Senior Notes [Member] | Studio City Notes [Member] | ||
Long-Term Debt [Line Items] | ||
Long-term debt, net | 807,514 | 805,354 |
Senior Notes [Member] | Philippine Notes [Member] | ||
Long-Term Debt [Line Items] | ||
Long-term debt, net | $ 329,931 | $ 0 |
X | ||||||||||
- Definition Amount of long-term debt, net of unamortized discount or premium and debt issuance costs, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debit issuance costs of long term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Amount of long-term debt, net of unamortized discount or premium and debit issuance costs, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET - Summary of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Long-Term Debt [Line Items] | ||
Current portion of unamortized deferred financing costs | $ 1,653 | $ 2,515 |
Senior Notes [Member] | 2013 Senior Notes [Member] | ||
Long-Term Debt [Line Items] | ||
Unamortized deferred financing costs | 73,611 | 83,105 |
Senior Notes [Member] | Studio City Notes [Member] | ||
Long-Term Debt [Line Items] | ||
Unamortized deferred financing costs | 17,486 | 19,646 |
Senior Notes [Member] | Philippine Notes [Member] | ||
Long-Term Debt [Line Items] | ||
Unamortized deferred financing costs | 6,264 | 0 |
Total Credit Facility [Member] | Studio City Project Facility [Member] | ||
Long-Term Debt [Line Items] | ||
Unamortized deferred financing costs | 71,735 | 0 |
Total Credit Facility [Member] | 2011 Credit Facilities [Member] | ||
Long-Term Debt [Line Items] | ||
Unamortized deferred financing costs | $ 2,687 | $ 6,602 |
X | ||||||||||
- Definition Amount of unamortized debt discount (premium) and debit issuance cost to be amortized within one year. No definition available.
|
X | ||||||||||
- Definition Amount of unamortized debt discount (premium) and debit issuance cost. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (2011 Credit Facilities) - Additional Information (Detail) $ in Thousands |
12 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2011
USD ($)
|
Jun. 30, 2011
HKD
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
HKD
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2013
HKD
|
Dec. 31, 2012
USD ($)
|
Dec. 31, 2014
HKD
|
Dec. 31, 2013
HKD
|
Jun. 30, 2011
HKD
|
Sep. 05, 2007
USD ($)
|
|
Long-Term Debt [Line Items] | |||||||||||
Total outstanding borrowings | $ 3,902,781 | $ 2,533,460 | |||||||||
City of Dreams Project Facility [Member] | Total Credit Facility [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Credit facility, maximum borrowing capacity | $ 1,750,000 | ||||||||||
City of Dreams Project Facility [Member] | Term Loan Facility [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Credit facility, maximum borrowing capacity | 1,500,000 | ||||||||||
City of Dreams Project Facility [Member] | Revolving Credit Facility [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Credit facility, maximum borrowing capacity | $ 250,000 | ||||||||||
2011 Credit Facilities [Member] | Total Credit Facility [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Maturity date | Jun. 30, 2016 | Jun. 30, 2016 | |||||||||
Voluntary prepayments, minimum amount | $ 20,566 | HKD 160,000,000 | |||||||||
Limit of net other insurance proceeds in excess of which will be subject to mandatory prepayment requirements | $ 15,000 | ||||||||||
Net assets restricted from distribution | $ 3,559,000 | 3,220,000 | |||||||||
Loan commitment fees recognized | 2,808 | 2,453 | $ 1,324 | ||||||||
Total outstanding borrowings | 417,166 | 673,883 | HKD 3,245,548,000 | HKD 5,242,809,600 | |||||||
2011 Credit Facilities [Member] | Total Credit Facility [Member] | Hong Kong Interbank Offered Rate HIBOR [Member] | Minimum [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Interest rate margin per annum added to applicable variable rate | 1.75% | 1.75% | |||||||||
2011 Credit Facilities [Member] | Total Credit Facility [Member] | Hong Kong Interbank Offered Rate HIBOR [Member] | Maximum [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Interest rate margin per annum added to applicable variable rate | 2.75% | 2.75% | |||||||||
2011 Credit Facilities [Member] | Term Loan Facility [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Credit facility, maximum borrowing capacity | $ 802,241 | HKD 6,241,440,000 | |||||||||
Amount drawn down as of the date | 802,241 | 6,241,440,000 | |||||||||
Scheduled amortization payments | 256,717 | HKD 1,997,260,800 | 128,358 | HKD 998,630,400 | |||||||
2011 Credit Facilities [Member] | Revolving Credit Facility [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Credit facility, maximum borrowing capacity | $ 401,121 | HKD 3,120,720,000 | |||||||||
Scheduled amortization payments | 212,488 | HKD 1,653,154,570 | |||||||||
Amount available for future drawdown | $ 401,121 | $ 401,121 | HKD 3,120,720,000 | HKD 3,120,720,000 |
X | ||||||||||
- Definition The limit of other insurance proceeds net of expenses to obtain such proceeds under any property insurances, subject to reinvestment rights and certain exceptions, in excess of which will be subject to mandatory prepayment requirements. No definition available.
|
X | ||||||||||
- Definition Net assets as of the date restricted from being distributed under the terms of the debt instrument. No definition available.
|
X | ||||||||||
- Definition The cash outflow for long term debt for scheduled amortization payments. No definition available.
|
X | ||||||||||
- Definition The minimum amount of voluntary prepayments that borrower may make in respect of the debt instrument. No definition available.
|
X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the fee for available but unused credit capacity under the credit facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (2010 Senior Notes) - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Mar. 28, 2013 |
Oct. 30, 2012 |
May 17, 2010 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
Feb. 26, 2013 |
|
Long-Term Debt [Line Items] | |||||||
Costs associated with debt modification | $ 0 | $ 10,538 | $ 3,277 | ||||
2010 Senior Notes [Member] | Senior Notes [Member] | |||||||
Long-Term Debt [Line Items] | |||||||
Purchase price as percentage of principal | 98.671% | ||||||
Debt instrument, face amount | $ 600,000 | ||||||
Interest rate per annum | 10.25% | ||||||
Maturity date | May 15, 2018 | ||||||
Maximum redeemable percentage of principal prior to May 15, 2013 for partial redemption | 35.00% | ||||||
Remaining outstanding aggregate principal amount redeemed | $ 865 | ||||||
Redemption price percentage for remaining outstanding aggregate principal amount | 100.00% | ||||||
Redemption costs of 2010 Senior Notes | $ 102,497 | ||||||
Unamortized deferred financing costs | 23,793 | ||||||
Unamortized issue discount | $ 5,962 | ||||||
2010 Senior Notes [Member] | Senior Notes [Member] | Proposed Amendments [Member] | |||||||
Long-Term Debt [Line Items] | |||||||
Additional restricted payments for funding Studio City project | $ 400,000 | ||||||
Costs capitalized as deferred finance costs | 14,795 | ||||||
Costs associated with debt modification | $ 3,277 | ||||||
2010 Senior Notes [Member] | Senior Notes [Member] | Tender Offer [Member] | |||||||
Long-Term Debt [Line Items] | |||||||
Aggregate principal amount tendered | $ 599,135 |
X | ||||||||||
- Definition Additional restricted payments allowed for funding project upon receiving unrevoked consents from the holders of the requisite aggregate principal amount of the 2010 Senior Notes to approve certain proposed amendments. No definition available.
|
X | ||||||||||
- Definition Amount represents (1) the difference between the fair value of the payments made and the carrying amount of the debt at the time of the modification of debt and/or (2) the write-off of deferred financing fees associated with the modification. No definition available.
|
X | ||||||||||
- Definition Costs capitalized as deferred finance costs. No definition available.
|
X | ||||||||||
- Definition Debt Instrument Redemption Cost No definition available.
|
X | ||||||||||
- Definition Debt instrument remaining outstanding aggregate principal amount. No definition available.
|
X | ||||||||||
- Definition Debt instrument tendered amount. No definition available.
|
X | ||||||||||
- Definition Maximum redeemable percentage of principal. No definition available.
|
X | ||||||||||
- Definition Redemption price as a percentage of principal for remaining outstanding aggregate principal amount. No definition available.
|
X | ||||||||||
- Definition Senior Notes purchase price as percentage of principal. No definition available.
|
X | ||||||||||
- Definition Unamortized Deferred Financing Costs. No definition available.
|
X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (RMB Bonds) - Additional Information (Detail) $ in Thousands |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Mar. 11, 2013
USD ($)
|
Mar. 11, 2013
CNY (¥)
|
May 09, 2011
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
May 09, 2011
CNY (¥)
|
|
Long-Term Debt [Line Items] | |||||||
Total long-term debt | $ 3,902,781 | $ 2,533,460 | |||||
Principal payments on long-term debt | $ 262,563 | 1,667,969 | $ 2,755 | ||||
RMB Bonds [Member] | Unsubordinated Bonds [Member] | |||||||
Long-Term Debt [Line Items] | |||||||
Total long-term debt | $ 353,278 | ¥ 2,300,000,000 | |||||
Purchase price as percentage of principal | 100.00% | ||||||
Interest rate per annum | 3.75% | 3.75% | |||||
Maturity date | May 09, 2013 | ||||||
Principal payments on long-term debt | $ 368,177 | ¥ 2,300,000,000 | |||||
RMB Bonds [Member] | Extinguishment of Debt [Member] | Unsubordinated Bonds [Member] | |||||||
Long-Term Debt [Line Items] | |||||||
Unamortized deferred financing costs | $ 586 |
X | ||||||||||
- Definition Bond purchase price as percentage of principal. No definition available.
|
X | ||||||||||
- Definition Unamortized Deferred Financing Costs. No definition available.
|
X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (Deposit-Linked Loan) - Additional Information (Detail) $ in Thousands |
12 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 04, 2013
USD ($)
|
Mar. 04, 2013
HKD
|
May 20, 2011
USD ($)
|
May 20, 2011
HKD
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2012
USD ($)
|
Mar. 04, 2013
CNY (¥)
|
Dec. 31, 2012
CNY (¥)
|
May 20, 2011
CNY (¥)
|
May 20, 2011
HKD
|
|
Long-Term Debt [Line Items] | |||||||||||
Total long-term debt | $ 3,902,781 | $ 2,533,460 | |||||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | 0 | $ 138 | ||||||||
Prepayments of long-term debt | $ 262,563 | $ 1,667,969 | 2,755 | ||||||||
Deposit-Linked Loan [Member] | Secured Debt [Member] | |||||||||||
Long-Term Debt [Line Items] | |||||||||||
Total long-term debt | $ 353,278 | HKD 2,748,500,000 | |||||||||
RMB Bonds proceeds held as security deposit for Deposit-Linked Loan | $ 368,177 | 353,278 | ¥ 2,300,000,000 | ¥ 2,300,000,000 | |||||||
Maturity date | May 20, 2013 | ||||||||||
Minimum voluntary prepayments with 30 days' prior notice | $ 64,267 | HKD 500,000,000 | |||||||||
Interest rate per annum | 2.88% | 2.88% | 2.88% | ||||||||
Forward exchange rate contracts amount | $ 8,000 | 4,000 | ¥ 25,845,867 | ¥ 52,325,000 | |||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | $ 138 | ||||||||||
Prepayments of long-term debt | $ 353,278 | HKD 2,748,500,000 | |||||||||
Date of release of RMB Bonds proceeds held as security deposit for Deposit-Linked Loan | Mar. 04, 2013 |
X | ||||||||||
- Definition Date of release as security deposit. No definition available.
|
X | ||||||||||
- Definition Forward exchange rate contract amount. No definition available.
|
X | ||||||||||
- Definition The minimum amount of voluntary prepayments that borrower may make in respect of the debt instrument. No definition available.
|
X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of an asset, typically cash, provided to a counterparty to provide certain assurance of performance by the entity pursuant to the terms of a written or oral agreement, such as a lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (Aircraft Term Loan) - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Jun. 25, 2012 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
Long-Term Debt [Line Items] | |||
Carrying value of aircraft | $ 4,696,391 | $ 3,308,846 | |
Aircraft Term Loan [Member] | Term Loan Facility [Member] | |||
Long-Term Debt [Line Items] | |||
Term loan facility, maximum borrowing capacity | $ 43,000 | ||
Amount drawn down as of the date | $ 43,000 | ||
Voluntary prepayments, minimum amount | 1,000 | ||
Limit of any capital expenditure not in ordinary course of business or any subsequent indebtedness of which exceeding will be subject to lender's approval | $ 1,000 | ||
Maturity date | Jun. 27, 2019 | ||
Aircraft Term Loan [Member] | Term Loan Facility [Member] | Aircraft [Member] | |||
Long-Term Debt [Line Items] | |||
Carrying value of aircraft | $ 40,974 | $ 46,437 | |
Aircraft Term Loan [Member] | Term Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Long-Term Debt [Line Items] | |||
Interest rate margin per annum added to applicable variable rate | 2.80% |
X | ||||||||||
- Definition Limit of any capital expenditure not in ordinary course of business or any subsequent indebtedness of which exceeding will be subject to lender's approval. No definition available.
|
X | ||||||||||
- Definition The minimum amount of voluntary prepayments that borrower may make in respect of the debt instrument. No definition available.
|
X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (2013 Credit Facilities) - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Mar. 28, 2013 |
Feb. 07, 2013 |
May 17, 2010 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Long-Term Debt [Line Items] | ||||||
Total long-term debt | $ 3,902,781 | $ 2,533,460 | ||||
Loss on extinguishment of debt | 0 | 50,935 | $ 0 | |||
Costs associated with debt modification | $ 0 | 10,538 | $ 3,277 | |||
2013 Senior Notes [Member] | Senior Notes [Member] | ||||||
Long-Term Debt [Line Items] | ||||||
Purchase price as percentage of principal | 100.00% | |||||
Total long-term debt | $ 1,000,000 | |||||
Maturity date | Feb. 15, 2021 | |||||
Interest rate per annum | 5.00% | |||||
Debt underwriting commissions and other expenses | $ 14,500 | |||||
Net proceeds from issuance of 2013 Senior Notes | $ 985,500 | |||||
Costs associated with debt modification | 10,538 | |||||
Costs capitalized as deferred finance costs | 6,523 | |||||
Maximum redeemable percentage of principal prior to February 15, 2016 for partial redemption | 35.00% | |||||
Net assets restricted from distribution | $ 3,639,000 | 3,296,000 | ||||
2010 Senior Notes [Member] | Senior Notes [Member] | ||||||
Long-Term Debt [Line Items] | ||||||
Purchase price as percentage of principal | 98.671% | |||||
Maturity date | May 15, 2018 | |||||
Interest rate per annum | 10.25% | |||||
Repurchase of 2010 Senior Notes in full funded by net proceeds from issuance of 2013 Senior Notes | $ 600,000 | |||||
Redemption costs of 2010 Senior Notes funded by net proceeds from issuance of 2013 Senior Notes | 102,497 | |||||
Loss on extinguishment of debt | 50,256 | |||||
Redemption costs of 2010 Senior Notes | 102,497 | |||||
Unamortized deferred financing costs | 23,793 | |||||
Unamortized issue discount | $ 5,962 | |||||
Maximum redeemable percentage of principal prior to February 15, 2016 for partial redemption | 35.00% | |||||
2010 Senior Notes [Member] | Senior Notes [Member] | Extinguishment of Debt [Member] | ||||||
Long-Term Debt [Line Items] | ||||||
Redemption costs of 2010 Senior Notes | 38,949 | |||||
Unamortized deferred financing costs | 9,041 | |||||
Unamortized issue discount | $ 2,266 |
X | ||||||||||
- Definition Amount represents (1) the difference between the fair value of the payments made and the carrying amount of the debt at the time of the modification of debt and/or (2) the write-off of deferred financing fees associated with the modification. No definition available.
|
X | ||||||||||
- Definition Costs capitalized as deferred finance costs. No definition available.
|
X | ||||||||||
- Definition Debt Instrument Redemption Cost No definition available.
|
X | ||||||||||
- Definition Debt instrument redemption costs funded by. No definition available.
|
X | ||||||||||
- Definition Net assets as of the date restricted from being distributed under the terms of the debt instrument. No definition available.
|
X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer), net of discount and underwriting commissions and other expenses. No definition available.
|
X | ||||||||||
- Definition Maximum redeemable percentage of principal. No definition available.
|
X | ||||||||||
- Definition Senior Notes purchase price as percentage of principal. No definition available.
|
X | ||||||||||
- Definition Unamortized Deferred Financing Costs. No definition available.
|
X | ||||||||||
- Definition Amount of the fee that accompanies borrowing money under the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (Studio City Notes) - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Nov. 26, 2012 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
Long-Term Debt [Line Items] | |||
Total long-term debt | $ 3,902,781 | $ 2,533,460 | |
Restricted cash current portion | 1,447,034 | 770,294 | |
Restricted cash non-current portion | $ 369,549 | 373,371 | |
Studio City Notes [Member] | Senior Notes [Member] | |||
Long-Term Debt [Line Items] | |||
Total long-term debt | $ 825,000 | ||
Purchase price as percentage of principal | 100.00% | ||
Maturity date | Dec. 01, 2020 | ||
Interest rate per annum | 8.50% | ||
Debt underwriting commissions and other expenses | $ 13,200 | ||
Net proceeds from issuance of Studio City Notes | 811,800 | ||
Interest on Studio City Notes, 41-month anniversary | 239,594 | ||
Interest due | 35,063 | ||
Interest paid | $ 70,125 | 71,099 | |
Fund from Studio City Finance's ultimate shareholders to be the first in the sequence of funding of Studio City project costs according to Note Disbursement and Account Agreement | $ 825,000 | ||
Maximum redeemable percentage of principal prior to December 1, 2015 for partial redemption | 35.00% | ||
Net assets restricted from distribution | 102,000 | $ 171,000 | |
Studio City Notes [Member] | Senior Notes [Member] | Note Interest Reserve Account [Member] | |||
Long-Term Debt [Line Items] | |||
Restricted cash current portion | 63,340 | ||
Studio City Notes [Member] | Senior Notes [Member] | Note Debt Service Reserve Account [Member] | |||
Long-Term Debt [Line Items] | |||
Restricted cash non-current portion | $ 35,064 |
X | ||||||||||
- Definition Fund from Studio City Finance's ultimate shareholders to be the first in the sequence of funding of Studio City project costs according to Note Disbursement and Account Agreement. No definition available.
|
X | ||||||||||
- Definition The six-month sum of interest due on Studio City Notes to be released from the Note Interest Reserve Account upon submission of the first utilization request under the Studio City Project Facility. No definition available.
|
X | ||||||||||
- Definition Interest expected to accrue on the Studio City Notes through to the 41-month anniversary of their issue date. No definition available.
|
X | ||||||||||
- Definition Net assets as of the date restricted from being distributed under the terms of the debt instrument. No definition available.
|
X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer), net of discount and underwriting commissions and other expenses. No definition available.
|
X | ||||||||||
- Definition Maximum redeemable percentage of principal. No definition available.
|
X | ||||||||||
- Definition Senior Notes purchase price as percentage of principal. No definition available.
|
X | ||||||||||
- Definition Amount of the fee that accompanies borrowing money under the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (Studio City Project Facility) - Additional Information (Detail) $ in Thousands |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Jan. 28, 2013
USD ($)
|
Jan. 28, 2013
HKD
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2013
USD ($)
|
Dec. 31, 2014
HKD
|
Jul. 28, 2014
USD ($)
|
Jul. 28, 2014
HKD
|
Jan. 28, 2013
HKD
|
|
Long-Term Debt [Line Items] | ||||||||
Cash Collateral classified as restricted cash non-current portion | $ 369,549 | $ 373,371 | ||||||
Studio City Project Facility [Member] | Total Credit Facility [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Credit facility, maximum borrowing capacity | $ 1,395,357 | HKD 10,855,880,000 | ||||||
Voluntary prepayments, minimum amount | 12,853 | HKD 100,000,000 | ||||||
Limit of net proceeds of asset sale in excess of which will be subject to mandatory prepayment requirements | 5,000 | |||||||
Limit of net other insurance proceeds in excess of which will be subject to mandatory prepayment requirements | $ 10,000 | |||||||
Percentage of net proceeds of equity issuance which will be subject to mandatory prepayment requirements | 50.00% | 50.00% | ||||||
Net assets restricted from distribution | 175,000 | 217,000 | ||||||
Loan commitment fees recognized | 15,153 | 23,190 | ||||||
Liability cap on contingent equity undertaking or similar | $ 225,000 | |||||||
Cash Collateral classified as restricted cash non-current portion | $ 225,000 | $ 225,000 | ||||||
Studio City Project Facility [Member] | Total Credit Facility [Member] | Until Specific Date [Member] | Hong Kong Interbank Offered Rate HIBOR [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest rate margin per annum added to applicable variable rate | 4.50% | 4.50% | ||||||
Specific date up to and after that different interest rate margin applied | Sep. 30, 2016 | Sep. 30, 2016 | ||||||
Studio City Project Facility [Member] | Total Credit Facility [Member] | After Specific Date [Member] | Minimum [Member] | Hong Kong Interbank Offered Rate HIBOR [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest rate margin per annum added to applicable variable rate | 3.75% | 3.75% | ||||||
Specific date up to and after that different interest rate margin applied | Sep. 30, 2016 | Sep. 30, 2016 | ||||||
Studio City Project Facility [Member] | Total Credit Facility [Member] | After Specific Date [Member] | Maximum [Member] | Hong Kong Interbank Offered Rate HIBOR [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest rate margin per annum added to applicable variable rate | 4.50% | 4.50% | ||||||
Specific date up to and after that different interest rate margin applied | Sep. 30, 2016 | Sep. 30, 2016 | ||||||
Studio City Project Facility [Member] | Revolving Credit Facility [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Credit facility, maximum borrowing capacity | $ 99,668 | 775,420,000 | ||||||
Maturity date | Jan. 28, 2018 | |||||||
Amount available for future drawdown | $ 99,668 | HKD 775,420,000 | ||||||
Studio City Project Facility [Member] | Revolving Credit Facility [Member] | Letter of Credit [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Credit facility, maximum borrowing capacity | 49,834 | 387,710,000 | ||||||
Studio City Project Facility [Member] | Term Loan Facility [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Credit facility, maximum borrowing capacity | $ 1,295,689 | HKD 10,080,460,000 | ||||||
Maturity date | Jan. 28, 2018 | |||||||
Amount drawn down as of the date | $ 1,295,689 | HKD 10,080,460,000 | ||||||
Minimum percentage of aggregate of drawn Studio City Term Loan Facility and the Studio City Notes to be hedged | 50.00% | 50.00% |
X | ||||||||||
- Definition Liability cap on contingent equity undertaking or similar. No definition available.
|
X | ||||||||||
- Definition The limit of other insurance proceeds net of expenses to obtain such proceeds under any property insurances, subject to reinvestment rights and certain exceptions, in excess of which will be subject to mandatory prepayment requirements. No definition available.
|
X | ||||||||||
- Definition The limit of net proceeds of any asset sales, subject to reinvestment rights and certain exceptions, in excess of which will be subject to mandatory prepayment requirements. No definition available.
|
X | ||||||||||
- Definition Minimum percentage of aggregate indebtedness to be hedged as required under the term of the debt instrument. No definition available.
|
X | ||||||||||
- Definition Net assets as of the date restricted from being distributed under the terms of the debt instrument. No definition available.
|
X | ||||||||||
- Definition The percentage of net proceeds of any permitted equity issuance of any member of the borrowing group which will be subject to mandatory prepayment requirements. No definition available.
|
X | ||||||||||
- Definition The date up to and after that different interest rate margin applied. No definition available.
|
X | ||||||||||
- Definition The minimum amount of voluntary prepayments that borrower may make in respect of the debt instrument. No definition available.
|
X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the fee for available but unused credit capacity under the credit facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET (Philippine Notes) - Additional Information (Detail) - Philippine Notes [Member] - Senior Notes [Member] $ in Thousands |
12 Months Ended | |||
---|---|---|---|---|
Jan. 24, 2014
USD ($)
|
Jan. 24, 2014
PHP
|
Dec. 31, 2014 |
Jan. 24, 2014
PHP
|
|
Long-Term Debt [Line Items] | ||||
Philippine Notes, face amount | $ 336,825 | PHP 15,000,000,000 | ||
Purchase price as percentage of principal | 100.00% | 100.00% | ||
Interest rate per annum | 5.00% | 5.00% | ||
Maturity date | Jan. 24, 2019 | |||
Net proceeds from issuance of Philippine Notes | $ 331,643 | PHP 14,769,231,000 | ||
Debt underwriting commissions and other expenses | $ 5,182 | PHP 230,769,000 | ||
Redemption price percentage prior to January 24, 2015 | 100.00% | 100.00% |
X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer), net of discount and underwriting commissions and other expenses. No definition available.
|
X | ||||||||||
- Definition Redemption price as percentage of principal prior to the first year following the issue date of the debt instrument. No definition available.
|
X | ||||||||||
- Definition Senior Notes purchase price as percentage of principal. No definition available.
|
X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the fee that accompanies borrowing money under the debt instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET - Summary of Interest on Long-Term Debt (Detail) - USD ($) $ in Thousands |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | $ 178,532 | $ 144,566 | $ 114,429 | |||||
Interest capitalized | (82,761) | (25,259) | (7,900) | |||||
Interest on long-term debt, net of capitalized interest | 95,771 | 119,307 | 106,529 | |||||
Studio City Notes [Member] | Senior Notes [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | [1] | 70,125 | 71,099 | 5,844 | ||||
2013 Senior Notes [Member] | Senior Notes [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | [1] | 50,000 | 44,998 | 0 | ||||
Studio City Project Facility [Member] | Total Credit Facility [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | [2] | 26,321 | 0 | 0 | ||||
Philippine Notes [Member] | Senior Notes [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | [2] | 19,751 | 0 | 0 | ||||
2011 Credit Facilities [Member] | Total Credit Facility [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | [2] | 11,337 | 16,841 | 21,849 | ||||
Aircraft Term Loan [Member] | Term Loan Facility [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | 998 | 1,191 | 705 | |||||
2010 Senior Notes [Member] | Interest Expense Debt Excluding Amortization [Member] | Senior Notes [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | 0 | 6,028 | 61,500 | |||||
2010 Senior Notes [Member] | Amortization of Debt Discount [Member] | Senior Notes [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | 0 | 71 | 801 | |||||
RMB Bonds [Member] | Unsubordinated Bonds [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | 0 | 2,610 | 13,666 | |||||
Deposit-Linked Loan [Member] | Secured Debt [Member] | ||||||||
Long-Term Debt [Line Items] | ||||||||
Interest on long-term debt | $ 0 | $ 1,728 | $ 10,064 | |||||
|
X | ||||||||||
- Definition Amount of interest on debt arrangements capitalized during the period. No definition available.
|
X | ||||||||||
- Definition Total interest incurred in the period on debt arrangements and either capitalized or charged against earnings. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
LONG-TERM DEBT, NET - Summary of Interest on Long-Term Debt - Additional Information (Detail) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Debt Disclosure [Abstract] | |||
Average borrowing rate per annum | 5.41% | 5.36% | 5.06% |
X | ||||||||||
- Definition Debt Instrument Average Interest Rate During Period No definition available.
|
X | ||||||||||
- References No definition available.
|
LONG-TERM DEBT, NET - Scheduled Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Debt Disclosure [Abstract] | ||
Year ending December 31, 2015 | $ 262,750 | |
Year ending December 31, 2016 | 322,150 | |
Year ending December 31, 2017 | 161,897 | |
Year ending December 31, 2018 | 991,336 | |
Year ending December 31, 2019 | 339,648 | |
Over 2019 | 1,825,000 | |
Total long-term debt | $ 3,902,781 | $ 2,533,460 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
LONG-TERM DEBT, NET - Scheduled Repayment of Long-Term Debt (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Debt Disclosure [Abstract] | ||
Within one year | $ 262,750 | $ 262,566 |
More than one year, but not exceeding two years | 322,150 | 262,749 |
More than two years, but not exceeding five years | 1,492,881 | 179,697 |
More than five years | 1,825,000 | 1,828,448 |
Total long-term debt | 3,902,781 | 2,533,460 |
Long-term debt, current and non current | ||
Less: Amounts due within one year classified as current liabilities | (262,750) | (262,566) |
Non current portion of long-term debt | 3,640,031 | 2,270,894 |
Total long-term debt | $ 3,902,781 | $ 2,533,460 |
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third, fourth and fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
CAPITAL LEASE OBLIGATIONS - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2014 | |
MCP Lease Agreement [Member] | |
Capital Leased Assets [Line Items] | |
Lease agreement expire date | Jul. 11, 2033 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Date which lease or group of leases is set to expire, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Details
|
CAPITAL LEASE OBLIGATIONS - Future Minimum Lease Payments under Capital Lease Obligations (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Leases [Abstract] | ||
Year ending December 31, 2015 | $ 25,289 | |
Year ending December 31, 2016 | 33,478 | |
Year ending December 31, 2017 | 36,481 | |
Year ending December 31, 2018 | 39,916 | |
Year ending December 31, 2019 | 43,620 | |
Over 2019 | 755,174 | |
Total minimum lease payments | 933,958 | |
Less: amounts representing interest | (632,419) | |
Present value of minimum lease payments | 301,539 | |
Capital Lease Obligations, Current and Noncurrent | ||
Current portion | (23,512) | $ (27,265) |
Non-current portion | 278,027 | $ 253,029 |
Present value of minimum lease payments | $ 301,539 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of capital lease obligation due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of minimum lease payments for capital leases due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount necessary to reduce net minimum lease payments to present value for capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
OTHER LONG-TERM LIABILITIES - Schedule of Other Long-Term Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Other Liabilities, Noncurrent [Abstract] | ||
Construction costs and property and equipment retention payables | $ 59,162 | $ 20,679 |
Staff cost accruals and others | 20,750 | 0 |
Deferred rent liabilities | 12,296 | 7,626 |
Other deposits received | 1,233 | 187 |
Other long-term liabilities | $ 93,441 | $ 28,492 |
X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent deposits received not separately disclosed in the balance sheet. No definition available.
|
X | ||||||||||
- Definition Staff cost accruals and others. No definition available.
|
X | ||||||||||
- Definition For a classified balance sheet, the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amounts owed to vendors and subcontractors that have been withheld because of retainage provisions in a contract to be paid after the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Fair Value Disclosures [Abstract] | ||
The estimated fair value of long-term debt | $ 3,878,381 | $ 2,585,768 |
The carrying value of long-term debt | $ 3,902,781 | $ 2,533,460 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
CAPITAL STRUCTURE - Shares Issued By Company - Additional Information (Detail) - shares |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||
Capital Structure [Line Items] | ||||||
Treasury shares, shares | 17,684,386 | 16,222,246 | 11,267,038 | |||
New Shares Issued [Member] | ||||||
Capital Structure [Line Items] | ||||||
Treasury shares, shares | 13,482,154 | 15,478,987 | 11,267,038 | |||
Ordinary Shares [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | 8,574,153 | 4,958,293 | ||||
Issuance of shares for restricted shares vested (in shares) | 0 | 0 | 0 | |||
Exercise of share options (in shares) | 0 | 0 | 0 | |||
Ordinary Shares [Member] | New Shares Issued [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | 0 | 8,574,153 | 4,958,293 | |||
Treasury Shares [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | [1] | (8,574,153) | (4,958,293) | |||
Issuance of shares for restricted shares vested (in shares) | [1] | 1,068,534 | 1,297,902 | 1,276,634 | ||
Exercise of share options (in shares) | [1] | 928,299 | 3,064,302 | 2,966,955 | ||
Treasury Shares [Member] | New Shares Issued [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | 0 | 8,574,153 | 4,958,293 | |||
Issuance of shares for restricted shares vested (in shares) | 1,068,534 | 1,297,902 | 1,276,634 | |||
Exercise of share options (in shares) | 928,299 | 3,064,302 | 2,966,955 | |||
|
X | ||||||||||
- Definition Capital Structure [Line Items] No definition available.
|
X | ||||||||||
- Definition Number of shares issued against treasury shares during the period for future vesting of Restricted Stock Awards and exercise of share options. No definition available.
|
X | ||||||||||
- Definition Number of shares issued related to Restricted Stock Awards transferred from treasury shares during the period, net of any shares forfeited. No definition available.
|
X | ||||||||||
- Definition Number of common stock i) issued by an entity and held by the depository bank to facilitate the administration and operations of the entity's share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the share incentive plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the share incentive plan; and iii) the shares repurchased by the entity under the stock repurchase program pending for retirement. No definition available.
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
CAPITAL STRUCTURE - Shares Purchased under Trust Arrangement - Additional Information (Detail) - $ / shares |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||
Capital Structure [Line Items] | ||||||
Treasury shares, shares | 17,684,386 | 16,222,246 | 11,267,038 | |||
Shares Purchased Under Trust Arrangement [Member] | ||||||
Capital Structure [Line Items] | ||||||
Treasury shares, shares | 484,416 | 743,259 | ||||
Treasury Shares [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares purchased under trust arrangement for future vesting of restricted shares (in ADSs or in shares) | [1] | (208,278) | (1,121,838) | |||
Transfer of shares purchased under trust arrangement for restricted shares vested (in shares) | [1] | 467,121 | 378,579 | |||
Treasury Shares [Member] | Shares Purchased Under Trust Arrangement [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares purchased under trust arrangement for future vesting of restricted shares (in ADSs or in shares) | 208,278 | 1,121,838 | ||||
Transfer of shares purchased under trust arrangement for restricted shares vested (in shares) | 467,121 | 378,579 | ||||
Shares purchased under trust arrangement, average market price per ADS or per share | $ 8.26 | $ 7.82 | ||||
Treasury Shares [Member] | Shares Purchased Under Trust Arrangement [Member] | American Depository Shares [Member] | ||||||
Capital Structure [Line Items] | ||||||
Shares purchased under trust arrangement for future vesting of restricted shares (in ADSs or in shares) | 69,426 | 373,946 | ||||
Shares purchased under trust arrangement, average market price per ADS or per share | $ 24.79 | $ 23.45 | ||||
|
X | ||||||||||
- Definition Capital Structure [Line Items] No definition available.
|
X | ||||||||||
- Definition Stock Purchased During Period Shares, Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Total cost of shares purchased under trust arrangement divided by the total number of shares purchased. No definition available.
|
X | ||||||||||
- Definition Transfer of Shares Purchased Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Number of common stock i) issued by an entity and held by the depository bank to facilitate the administration and operations of the entity's share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the share incentive plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the share incentive plan; and iii) the shares repurchased by the entity under the stock repurchase program pending for retirement. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
CAPITAL STRUCTURE - Shares Repurchased for Retirement - Additional Information (Detail) - USD ($) |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 31, 2014 |
Aug. 07, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||
Capital Structure [Line Items] | |||||||
Shares repurchased for retirement | $ 300,495,000 | ||||||
Treasury shares, shares | 17,684,386 | 16,222,246 | 11,267,038 | ||||
Ordinary shares, issued | 1,633,701,920 | 1,666,633,448 | 1,658,059,295 | ||||
Ordinary shares, outstanding | 1,616,017,534 | 1,650,411,202 | 1,646,792,257 | ||||
Shares Purchased For Retirement [Member] | |||||||
Capital Structure [Line Items] | |||||||
Treasury shares, shares | 3,717,816 | ||||||
Treasury Shares [Member] | |||||||
Capital Structure [Line Items] | |||||||
Shares repurchased for retirement (in ADSs or in shares) | [1] | 36,649,344 | |||||
Retirement of shares (in shares) | [1] | 32,931,528 | |||||
Shares repurchased for retirement | $ 300,495,000 | ||||||
Treasury Shares [Member] | 2014 Stock Repurchase Program [Member] | |||||||
Capital Structure [Line Items] | |||||||
Stock repurchase program authorized amount | $ 500,000,000 | ||||||
Shares repurchased for retirement (in ADSs or in shares) | 36,649,344 | ||||||
Retirement of shares (in shares) | 32,931,528 | ||||||
Share repurchased for retirement, average market price per ADS or per share | $ 8.20 | ||||||
Shares repurchased for retirement | $ 300,495,000 | ||||||
Treasury Shares [Member] | 2014 Stock Repurchase Program [Member] | American Depository Shares [Member] | |||||||
Capital Structure [Line Items] | |||||||
Shares repurchased for retirement (in ADSs or in shares) | 12,216,448 | ||||||
Share repurchased for retirement, average market price per ADS or per share | $ 24.60 | ||||||
Ordinary Shares [Member] | |||||||
Capital Structure [Line Items] | |||||||
Shares repurchased for retirement (in ADSs or in shares) | 0 | ||||||
Retirement of shares (in shares) | (32,931,528) | ||||||
Shares repurchased for retirement | $ 0 | ||||||
Ordinary Shares [Member] | 2014 Stock Repurchase Program [Member] | |||||||
Capital Structure [Line Items] | |||||||
Retirement of shares (in shares) | 32,931,528 | ||||||
|
X | ||||||||||
- Definition Capital Structure [Line Items] No definition available.
|
X | ||||||||||
- Definition Share Repurchased For Retirement Average Cost Per Share No definition available.
|
X | ||||||||||
- Definition Number of shares that have been repurchased during the period under Share Repurchase Program for retirement. No definition available.
|
X | ||||||||||
- Definition Value of shares that have been repurchased during the period under Share Repurchase Program for retirement. No definition available.
|
X | ||||||||||
- Definition Number of shares that have been retired during the period under Share Repurchase Program. No definition available.
|
X | ||||||||||
- Definition Number of common stock i) issued by an entity and held by the depository bank to facilitate the administration and operations of the entity's share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the share incentive plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the share incentive plan; and iii) the shares repurchased by the entity under the stock repurchase program pending for retirement. No definition available.
|
X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stock repurchase plan authorized. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
INCOME TAXES - Summary of Income Tax Expense (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Income tax expense - current: | |||
Income tax expense - current | $ 7,349 | $ 6,384 | $ 954 |
(Over) under provision of income tax in prior years: | |||
(Over) under provision of income tax in prior years | 158 | (411) | (138) |
Income tax expense (benefit) - deferred: | |||
Income tax expense (benefit) - deferred | (4,471) | (3,532) | (3,759) |
Total income tax expense | 3,036 | 2,441 | (2,943) |
Macau Complementary Tax [Member] | |||
Income tax expense - current: | |||
Income tax expense - current | 2,761 | 41 | 203 |
(Over) under provision of income tax in prior years: | |||
(Over) under provision of income tax in prior years | (57) | (417) | (171) |
Income tax expense (benefit) - deferred: | |||
Income tax expense (benefit) - deferred | (3,917) | (3,543) | (3,676) |
Lump sum in lieu of Macau Complementary Tax on dividend [Member] | |||
Income tax expense - current: | |||
Income tax expense - current | 2,795 | 5,590 | 0 |
Hong Kong Profits Tax [Member] | |||
Income tax expense - current: | |||
Income tax expense - current | 1,171 | 654 | 513 |
(Over) under provision of income tax in prior years: | |||
(Over) under provision of income tax in prior years | 124 | (2) | 32 |
Income tax expense (benefit) - deferred: | |||
Income tax expense (benefit) - deferred | (22) | 12 | (81) |
Income Tax in Other Jurisdictions [Member] | |||
Income tax expense - current: | |||
Income tax expense - current | 622 | 99 | 238 |
(Over) under provision of income tax in prior years: | |||
(Over) under provision of income tax in prior years | 91 | 8 | 1 |
Income tax expense (benefit) - deferred: | |||
Income tax expense (benefit) - deferred | $ (532) | $ (1) | $ (2) |
X | ||||||||||
- Definition Under Or Over Provision Of Income Tax In Prior Years [Abstract] No definition available.
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to revisions of previously reported income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
INCOME TAXES - Schedule of Reconciliation of Income Tax Expense from (Loss) Income Before Income Tax (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Income Tax Disclosure [Abstract] | |||
INCOME BEFORE INCOME TAX | $ 530,422 | $ 580,454 | $ 395,729 |
Macau Complementary Tax rate | 12.00% | 12.00% | 12.00% |
Income tax expense at Macau Complementary Tax rate | $ 63,651 | $ 69,654 | $ 47,487 |
Lump sum in lieu of Macau Complementary Tax on dividend | 2,795 | 5,590 | 0 |
Effect of different tax rates of subsidiaries operating in other jurisdictions | (25,416) | (9,642) | (556) |
Under (over) provision in prior years | 158 | (411) | (138) |
Effect of income for which no income tax expense is payable | (2,272) | (395) | (714) |
Effect of expenses for which no income tax benefit is receivable | 12,441 | 26,557 | 17,317 |
Effect of profits generated by gaming operations exempted from Macau Complementary Tax | (109,189) | (125,702) | (88,491) |
Change in valuation allowance | 60,868 | 36,790 | 22,152 |
Total income tax expense | $ 3,036 | $ 2,441 | $ (2,943) |
X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to foreign income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to revisions of previously reported income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income (loss) exempt from income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income exempt from income tax because of a tax holiday. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
INCOME TAXES - Additional Information (Detail) |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2014
USD ($)
$ / shares
|
Dec. 31, 2013
USD ($)
$ / shares
|
Dec. 31, 2012
USD ($)
$ / shares
|
Dec. 31, 2013
MOP
|
|
Schedule Of Income Taxes [Line Items] | ||||
Percentage of tax on estimated taxable income | 12.00% | 12.00% | 12.00% | |
Provisions for current income tax | $ 7,349,000 | $ 6,384,000 | $ 954,000 | |
Expected increase (decrease) in net income if taxes on casino gaming profits have been paid | $ (109,189,000) | $ (125,702,000) | $ (88,491,000) | |
Effective tax rate | 0.60% | 0.40% | (0.70%) | |
Valuation allowances | $ 127,927,000 | $ 88,610,000 | ||
Adjusted operating tax loss carried forwards, expired | 159,715,000 | |||
Aggregate undistributed earnings of foreign subsidiaries | 11,447,000 | 18,175,000 | ||
Provision related to tax withholding for dividends | 0 | 0 | ||
Deferred income tax liability, undistributed earnings | 1,717,000 | 2,725,000 | ||
Interest and penalties related to uncertain tax positions recognized | 0 | 0 | ||
Operating Tax Loss Carry Forwards Expiring 2016 [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Adjusted operating tax loss carry forwards expiration | 153,845,000 | |||
Operating Tax Loss Carryforwards Expiring in 2017 [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Adjusted operating tax loss carry forwards expiration | 177,728,000 | |||
Operating Tax Loss Carry Forwards Expiring in 2018 [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Adjusted operating tax loss carry forwards expiration | 245,405,000 | |||
Lump sum in lieu of Macau Complementary Tax on dividend [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Provisions for current income tax | $ 2,795,000 | 5,590,000 | $ 0 | |
Annual lump sum in lieu of Macau Complementary tax on dividend | $ 2,795,000 | MOP 22,400,000 | ||
Macau Complementary Tax [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Percentage of tax on estimated taxable income | 12.00% | 12.00% | 12.00% | |
Provisions for current income tax | $ 2,761,000 | $ 41,000 | $ 203,000 | |
Macau Complementary Tax [Member] | Basic [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Expected reduction in earnings per share if taxes on casino gaming profits have been paid | $ / shares | $ 0.066 | $ 0.076 | $ 0.054 | |
Macau Complementary Tax [Member] | Diluted [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Expected reduction in earnings per share if taxes on casino gaming profits have been paid | $ / shares | $ 0.066 | $ 0.076 | $ 0.053 | |
Hong Kong Profits Tax [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Percentage of tax on estimated taxable income | 16.50% | 16.50% | 16.50% | |
Provisions for current income tax | $ 1,171,000 | $ 654,000 | $ 513,000 | |
The United States of America Income Tax [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Provisions for current income tax | $ 0 | $ 0 | ||
The Philippines Income Tax [Member] | ||||
Schedule Of Income Taxes [Line Items] | ||||
Percentage of tax on estimated taxable income | 30.00% | 30.00% | 30.00% | |
Provisions for current income tax | $ 0 | $ 0 | $ 0 |
X | ||||||||||
- Definition Annual lump sum from 2012 through 2016 in lieu of Macau Complementary tax otherwise due by the shareholders on dividend distribution from gaming profits. No definition available.
|
X | ||||||||||
- Definition Net operating losses carry forwards and tax expired in current fiscal year. No definition available.
|
X | ||||||||||
- Definition Provision for dividend withholding taxes related to the undistributed earnings of foreign subsidiaries where these undistributed earnings intended to be permanently reinvested. No definition available.
|
X | ||||||||||
- Definition Schedule Of Income Taxes [Line Items] No definition available.
|
X | ||||||||||
- Definition The temporary difference on undistributed earnings of foreign subsidiaries where these undistributed earnings intended to be permanently reinvested. No definition available.
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from undistributed earnings of subsidiaries and other recognized entities not within the country of domicile of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of estimated penalties and interest accrued as of the balance sheet date arising from income tax examinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Per share amount effect of the income tax benefit resulting from the income tax holidays granted by taxing jurisdictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income exempt from income tax because of a tax holiday. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
INCOME TAXES - Schedule of Net Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Deferred tax assets | ||
Net operating loss carried forwards | $ 94,280 | $ 66,744 |
Depreciation and amortization | 13,377 | 11,100 |
Deferred deductible expenses | 4,402 | 3,861 |
Deferred rents | 12,896 | 5,001 |
Others | 9,527 | 1,997 |
Sub-total | 134,482 | 88,703 |
Valuation allowance | ||
Current | (18,626) | (19,415) |
Long-term | (109,301) | (69,195) |
Sub-total | (127,927) | (88,610) |
Total deferred tax assets | 6,555 | 93 |
Deferred tax liabilities | ||
Land use rights | (55,683) | (60,090) |
Intangible assets | (505) | (505) |
Unrealized capital allowance | (2,821) | (2,211) |
Others | (5,848) | 0 |
Total deferred tax liabilities | (64,857) | (62,806) |
Deferred tax liabilities, net | $ (58,302) | $ (62,713) |
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from property, plant, and equipment, and intangibles. No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from land use rights. No definition available.
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of the deferred tax liability attributable to taxable differences. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from other provisions, reserves, allowances, and accruals not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred rent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from other capitalized costs not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from intangible assets other than goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
SHARE-BASED COMPENSATION - Additional Information (Detail) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
MCP Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The period which the maximum aggregate number of ordinary shares that can be issued | 10 years | ||
Maximum aggregate number of ordinary shares that can be issued | 442,630,330 | ||
The maximum percentage of issued share capital that can be issued for the share based awards plan upon shareholders' approval | 5.00% | ||
Remaining shares available for grant | 57,075,917 | 47,098,936 | |
MCP Share Incentive Plan [Member] | Share options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares options, granted | 9,543,186 | 120,826,336 | |
Unrecognized compensation cost | $ 5,445,000 | ||
Number of years the awards becomes exercisable | 3 years | ||
Expiration term of ordinary share options granted | 10 years | ||
Weighted-average fair value of share options granted | $ 0.14 | $ 0.09 | |
Period of recognition of unrecognized compensation cost | 1 year 6 months 7 days | ||
First vesting date | Mar. 04, 2015 | ||
Number of share options, vested and exercisable | 0 | ||
MCP Share Incentive Plan [Member] | Share options [Member] | Exercise Price Higher of Closing Price on Grant Date and Average Closing Price for Five Trading Days Proceeding Grant Date [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares options, granted | 4,861,003 | ||
MCP Share Incentive Plan [Member] | Share options [Member] | Exercise Price 0.19 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares options, granted | 4,682,183 | ||
Fixed exercise price per share, granted | $ 0.19 | ||
MCP Share Incentive Plan [Member] | Restricted shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of restricted share, Granted | 7,079,775 | 60,413,167 | |
Unrecognized compensation cost | $ 6,596,000 | ||
Number of years the awards becomes exercisable | 3 years | 3 years | |
Period of recognition of unrecognized compensation cost | 1 year 7 months 2 days | ||
First vesting date | Mar. 04, 2015 | ||
Number of restricted shares, Vested | 0 | 0 | |
2006 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The period which the maximum aggregate number of ordinary shares that can be issued | 10 years | ||
Maximum aggregate number of ordinary shares that can be issued | 100,000,000 | ||
2006 Share Incentive Plan [Member] | Share options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares options, granted | 0 | 0 | 0 |
Number of unvested share options | 0 | ||
Share options exercised | 853,905 | 2,967,372 | 2,966,955 |
Proceeds from stock options exercised | $ 1,758,000 | $ 4,463,000 | $ 3,632,000 |
Total intrinsic value of share options exercised | 5,472,000 | $ 34,330,000 | $ 13,022,000 |
Unrecognized compensation cost | $ 0 | ||
2006 Share Incentive Plan [Member] | Restricted shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of restricted share, Granted | 0 | 0 | 0 |
Total fair values at date of grant of restricted shares vested | $ 2,182,000 | $ 2,643,000 | $ 3,181,000 |
Unrecognized compensation cost | $ 0 | ||
Number of restricted shares, Vested | 902,670 | 1,297,902 | 1,276,634 |
2011 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
The period which the maximum aggregate number of ordinary shares that can be issued | 10 years | ||
Maximum aggregate number of ordinary shares that can be issued | 100,000,000 | ||
The maximum percentage of issued share capital that can be issued for the share based awards plan upon shareholders' approval | 10.00% | ||
Remaining shares available for grant | 92,621,404 | 94,688,953 | |
2011 Share Incentive Plan [Member] | Share options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares options, granted | 1,320,693 | 1,388,793 | 1,934,574 |
Share options exercised | 74,394 | 96,930 | |
Proceeds from stock options exercised | $ 397,000 | $ 455,000 | |
Total intrinsic value of share options exercised | 232,000 | $ 812,000 | |
Unrecognized compensation cost | $ 9,556,000 | ||
Expiration term of ordinary share options granted | 10 years | ||
Weighted-average fair value of share options granted | $ 7.11 | $ 4.50 | $ 2.44 |
Period of recognition of unrecognized compensation cost | 1 year 11 months 5 days | ||
2011 Share Incentive Plan [Member] | Share options [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of years the awards becomes exercisable | 3 years | ||
2011 Share Incentive Plan [Member] | Share options [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of years the awards becomes exercisable | 4 years | ||
2011 Share Incentive Plan [Member] | Restricted shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of restricted share, Granted | 746,856 | 817,068 | 1,170,612 |
Total fair values at date of grant of restricted shares vested | $ 3,821,000 | $ 1,676,000 | $ 0 |
Unrecognized compensation cost | $ 9,785,000 | ||
Period of recognition of unrecognized compensation cost | 1 year 10 months 28 days | ||
Number of restricted shares, Vested | 632,985 | 378,579 | |
2011 Share Incentive Plan [Member] | Restricted shares [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of years the awards becomes exercisable | 3 years | ||
2011 Share Incentive Plan [Member] | Restricted shares [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of years the awards becomes exercisable | 4 years |
X | ||||||||||
- Definition Period Maximum Aggregate Number Of Ordinary Shares Can Be Issued No definition available.
|
X | ||||||||||
- Definition Share based compensation arrangement by share based payment award award first vesting date. No definition available.
|
X | ||||||||||
- Definition The maximum percentage of issued share capital that can be issued for the share based awards plan upon shareholders' approval. No definition available.
|
X | ||||||||||
- Definition Fixed exercise price per share for certain share options on the bases approved by management. No definition available.
|
X | ||||||||||
- Definition Aggregate proceeds received by the entity during the annual period from exercises of stock or unit options and conversion of similar instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Unrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation. No definition available.
|
X | ||||||||||
- Definition Unrecognized cost of unvested options awarded to employees as compensation. No definition available.
|
X | ||||||||||
- Definition Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of exercisable share options (fully vested and expected to vest) that may be converted as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of non-vested options outstanding. No definition available.
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SHARE-BASED COMPENSATION - Summary of Share Options Activity (Detail) - Share options [Member] - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
2006 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Share Options, Beginning Balance | 13,777,413 | 16,832,154 | 20,916,462 |
Number of Share Options, Granted | 0 | 0 | 0 |
Number of Share Options, Exercised | (853,905) | (2,967,372) | (2,966,955) |
Number of Share Options, Forfeited | (82,380) | (1,110,843) | |
Number of Share Options, Expired | (6,087) | (4,989) | (6,510) |
Number of Share Options, Ending Balance | 12,917,421 | 13,777,413 | 16,832,154 |
Weighted-Average Exercise Price per Share, Beginning Balance | $ 1.63 | $ 1.61 | $ 1.55 |
Number of Share Options, Exercisable | 12,917,421 | ||
Weighted-Average Exercise Price per Share, Exercised | $ 2.06 | 1.50 | 1.22 |
Weighted-Average Exercise Price per Share, Forfeited | 2.07 | 1.63 | |
Weighted-Average Exercise Price per Share, Expired | 1.01 | 1.01 | 1.01 |
Weighted-Average Exercise Price per Share, Ending Balance | 1.60 | $ 1.63 | $ 1.61 |
Weighted-Average Exercise Price per Share, Exercisable | $ 1.60 | ||
Weighted-Average Remaining Contractual Term, Outstanding | 4 years 7 months 6 days | ||
Weighted-Average Remaining Contractual Term, Exercisable | 4 years 7 months 6 days | ||
Aggregate Intrinsic Value, Outstanding | $ 88,730 | ||
Aggregate Intrinsic Value, Exercisable | $ 88,730 | ||
2011 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Share Options, Beginning Balance | 3,070,335 | 1,901,136 | 0 |
Number of Share Options, Granted | 1,320,693 | 1,388,793 | 1,934,574 |
Number of Share Options, Exercised | (74,394) | (96,930) | |
Number of Share Options, Forfeited | (155,865) | (120,834) | (33,438) |
Number of Share Options, Expired | 0 | (1,830) | |
Number of Share Options, Ending Balance | 4,160,769 | 3,070,335 | 1,901,136 |
Weighted-Average Exercise Price per Share, Beginning Balance | $ 6.33 | $ 4.70 | $ 0.00 |
Number of Share Options, Exercisable | 1,494,933 | ||
Weighted-Average Exercise Price per Share, Granted | $ 12.89 | 8.42 | 4.70 |
Weighted-Average Exercise Price per Share, Exercised | 5.34 | 4.70 | |
Weighted-Average Exercise Price per Share, Forfeited | 9.84 | 6.00 | 4.70 |
Weighted-Average Exercise Price per Share, Expired | 4.70 | ||
Weighted-Average Exercise Price per Share, Ending Balance | 8.30 | $ 6.33 | $ 4.70 |
Weighted-Average Exercise Price per Share, Exercisable | $ 5.78 | ||
Weighted-Average Remaining Contractual Term, Outstanding | 8 years 2 months 5 days | ||
Weighted-Average Remaining Contractual Term, Exercisable | 7 years 6 months 26 days | ||
Aggregate Intrinsic Value, Outstanding | $ 6,249 | ||
Aggregate Intrinsic Value, Exercisable | $ 4,023 | ||
MCP Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Share Options, Beginning Balance | 116,144,153 | 0 | |
Number of Share Options, Granted | 9,543,186 | 120,826,336 | |
Number of Share Options, Forfeited | (1,560,727) | (4,682,183) | |
Number of Share Options, Ending Balance | 124,126,612 | 116,144,153 | 0 |
Weighted-Average Exercise Price per Share, Beginning Balance | $ 0.19 | $ 0.00 | |
Weighted-Average Exercise Price per Share, Granted | 0.24 | 0.19 | |
Weighted-Average Exercise Price per Share, Forfeited | 0.19 | 0.19 | |
Weighted-Average Exercise Price per Share, Ending Balance | $ 0.19 | $ 0.19 | $ 0.00 |
Weighted-Average Remaining Contractual Term, Outstanding | 8 years 6 months 22 days | ||
Aggregate Intrinsic Value, Outstanding | $ 14,149 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Gross number of share options (or share units) granted during the period. No definition available.
|
X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of options outstanding, including both vested and non-vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition Weighted average price at which grantees could have acquired the underlying shares with respect to stock options of the plan that expired. No definition available.
|
X | ||||||||||
- Definition Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated. No definition available.
|
X | ||||||||||
- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
|
X | ||||||||||
- Definition Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SHARE-BASED COMPENSATION - Summary of Share Options Vested and Expected to Vest (Detail) $ / shares in Units, $ in Thousands |
12 Months Ended |
---|---|
Dec. 31, 2014
USD ($)
$ / shares
shares
| |
2006 Share Incentive Plan [Member] | Vested [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Range of exercise prices per share, minimum | $ 1.01 |
Range of exercise prices per share, maximum | $ 5.06 |
Number of Share Options | shares | 12,917,421 |
Weighted-Average Exercise Price per Share | $ 1.60 |
Weighted-Average Remaining Contractual Term | 4 years 7 months 6 days |
Aggregate Intrinsic Value | $ | $ 88,730 |
2011 Share Incentive Plan [Member] | Vested [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Range of exercise prices per share, minimum | $ 4.70 |
Range of exercise prices per share, maximum | $ 8.42 |
Number of Share Options | shares | 1,494,933 |
Weighted-Average Exercise Price per Share | $ 5.78 |
Weighted-Average Remaining Contractual Term | 7 years 6 months 26 days |
Aggregate Intrinsic Value | $ | $ 4,023 |
2011 Share Incentive Plan [Member] | Expected to Vest [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Range of exercise prices per share, minimum | $ 4.70 |
Range of exercise prices per share, maximum | $ 12.98 |
Number of Share Options | shares | 2,665,836 |
Weighted-Average Exercise Price per Share | $ 9.71 |
Weighted-Average Remaining Contractual Term | 8 years 6 months 11 days |
Aggregate Intrinsic Value | $ | $ 2,226 |
MCP Share Incentive Plan [Member] | Expected to Vest [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Range of exercise prices per share, minimum | $ 0.19 |
Range of exercise prices per share, maximum | $ 0.30 |
Number of Share Options | shares | 124,126,612 |
Weighted-Average Exercise Price per Share | $ 0.19 |
Weighted-Average Remaining Contractual Term | 8 years 6 months 22 days |
Aggregate Intrinsic Value | $ | $ 14,149 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount by which the current fair value of the underlying stock exceeds the exercise price of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SHARE-BASED COMPENSATION - Summary of Share Options Vested and Expected to Vest (Parenthetical) (Detail) - Share options [Member] - shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
2006 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share options vested | 1,615,101 | ||
Share options expired | 6,087 | 4,989 | 6,510 |
2011 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share options vested | 1,046,418 | ||
Share options expired | 0 | 1,830 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Number of options or other stock instruments for which the right to exercise has lapsed under the terms of the plan agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of options vested. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SHARE-BASED COMPENSATION - Summary of Restricted Shares Activity (Detail) - Restricted shares [Member] - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
2006 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Restricted Shares, Unvested Beginning Balance | 902,670 | 2,238,885 | 4,002,503 |
Number of Restricted Shares, Granted | 0 | 0 | 0 |
Number of Restricted Shares, Vested | (902,670) | (1,297,902) | (1,276,634) |
Number of Restricted Shares, Forfeited | (38,313) | (486,984) | |
Number of Restricted Shares, Unvested Ending Balance | 0 | 902,670 | 2,238,885 |
Weighted-Average Grant Date Fair Value, Beginning Balance | $ 2.42 | $ 2.19 | $ 2.22 |
Weighted-Average Grant Date Fair Value, Vested | 2.42 | 2.04 | 2.49 |
Weighted-Average Grant Date Fair Value, Forfeited | 2.12 | 1.66 | |
Weighted-Average Grant Date Fair Value, Ending Balance | $ 0.00 | $ 2.42 | $ 2.19 |
2011 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Restricted Shares, Unvested Beginning Balance | 1,531,959 | 1,153,890 | 0 |
Number of Restricted Shares, Granted | 746,856 | 817,068 | 1,170,612 |
Number of Restricted Shares, Vested | (632,985) | (378,579) | |
Number of Restricted Shares, Forfeited | (77,938) | (60,420) | (16,722) |
Number of Restricted Shares, Unvested Ending Balance | 1,567,892 | 1,531,959 | 1,153,890 |
Weighted-Average Grant Date Fair Value, Beginning Balance | $ 6.43 | $ 4.43 | $ 0.00 |
Weighted-Average Grant Date Fair Value, Granted | 12.42 | 8.27 | 4.43 |
Weighted-Average Grant Date Fair Value, Vested | 6.04 | 4.43 | |
Weighted-Average Grant Date Fair Value, Forfeited | 9.57 | 5.77 | 4.43 |
Weighted-Average Grant Date Fair Value, Ending Balance | $ 9.28 | $ 6.43 | $ 4.43 |
MCP Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of Restricted Shares, Unvested Beginning Balance | 58,072,076 | 0 | |
Number of Restricted Shares, Granted | 7,079,775 | 60,413,167 | |
Number of Restricted Shares, Vested | 0 | 0 | |
Number of Restricted Shares, Forfeited | (780,365) | (2,341,091) | |
Number of Restricted Shares, Unvested Ending Balance | 64,371,486 | 58,072,076 | 0 |
Weighted-Average Grant Date Fair Value, Beginning Balance | $ 0.19 | $ 0 | |
Weighted-Average Grant Date Fair Value, Granted | 0.29 | 0.19 | |
Weighted-Average Grant Date Fair Value, Forfeited | 0.19 | 0.19 | |
Weighted-Average Grant Date Fair Value, Ending Balance | $ 0.20 | $ 0.19 | $ 0 |
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SHARE-BASED COMPENSATION - Summary of Assumptions Used to Estimate Fair Value of Stock Options (Detail) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
2011 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 1.11% | 0.00% | 0.00% |
Expected stock price volatility | 69.56% | 65.50% | 67.82% |
Risk-free interest rate | 2.04% | 0.82% | 1.01% |
Expected average life of options (years) | 6 years 1 month 6 days | 5 years 1 month 6 days | 5 years 1 month 6 days |
MCP Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected dividend yield | 0.00% | 0.00% | |
Expected stock price volatility | 40.00% | 45.00% | |
Risk-free interest rate | 3.77% | 3.73% | |
Expected average life of options (years) | 5 years 2 months 12 days | 5 years |
X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SHARE-BASED COMPENSATION - Impact of Share Options and Restricted Shares (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total share-based compensation expenses | $ 20,401 | $ 14,987 | $ 8,973 |
2006 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Share options | 579 | 3,234 | 4,033 |
Restricted shares | 492 | 2,188 | 2,464 |
Total share-based compensation expenses | 1,071 | 5,422 | 6,497 |
2011 Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Share options | 5,590 | 2,775 | 1,179 |
Restricted shares | 5,915 | 3,052 | 1,297 |
Total share-based compensation expenses | 11,505 | 5,827 | 2,476 |
MCP Share Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Share options | 3,631 | 1,756 | 0 |
Restricted shares | 4,194 | 1,982 | 0 |
Total share-based compensation expenses | 7,825 | 3,738 | 0 |
General and Administrative Expense [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total share-based compensation expenses | $ 20,401 | $ 14,987 | $ 8,973 |
X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The noncash expense that represents the cost of restricted stock or unit distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
EMPLOYEE BENEFIT PLANS - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Defined Contribution Plans Disclosure [Line Items] | |||
Amount of employer contributions into the defined contribution plans | $ 14,823 | $ 8,522 | $ 5,303 |
Voluntary Defined Contribution Scheme Enrolled Employees Macau since July. 1, 2013 [Member] | |||
Defined Contribution Plans Disclosure [Line Items] | |||
Vesting period of employer voluntary contribution | 10 years | ||
Voluntary Defined Contribution Scheme Enrolled Employees HK since July. 1, 2013 [Member] | |||
Defined Contribution Plans Disclosure [Line Items] | |||
Vesting period of employer voluntary contribution | 10 years | ||
MPF Scheme executive officers HKD [Member] | |||
Defined Contribution Plans Disclosure [Line Items] | |||
Vesting period of employer voluntary contribution | 10 years |
X | ||||||||||
- Definition Number of years over which employer's voluntary contributions to a defined contribution plan that fully vests No definition available.
|
X | ||||||||||
- Definition The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
DISTRIBUTION OF PROFITS - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
|
Reserve Quantities [Line Items] | ||
Balance of legal reserve | $ 31,202 | $ 31,201 |
Minimum [Member] | ||
Reserve Quantities [Line Items] | ||
Profit after taxation to legal reserve | 10.00% | |
Percentage of legal reserve to share capital | 25.00% | |
Maximum [Member] | ||
Reserve Quantities [Line Items] | ||
Profit after taxation to legal reserve | 25.00% | |
Percentage of legal reserve to share capital | 50.00% |
X | ||||||||||
- Definition Balance of legal reserve. No definition available.
|
X | ||||||||||
- Definition Percentage of legal reserve to share capital until which all subsidiaries incorporated in Macau are required to set aside the entity's profit after taxation to the legal reserve in accordance with the provisions of the Macau Commercial Code. No definition available.
|
X | ||||||||||
- Definition Percentage of profit after tax for appropriation to legal reserve in accordance with the provisions of the Macau Commercial Code. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
DIVIDENDS - Additional Information (Detail) - USD ($) |
12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|
Feb. 12, 2015 |
Dec. 04, 2014 |
Sep. 04, 2014 |
Jun. 06, 2014 |
Apr. 16, 2014 |
Feb. 25, 2014 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Dividends [Line Items] | |||||||||
Aggregate dividend payment on consolidated net income attributable to Melco Crown Entertainment Limited, percentage | 30.00% | ||||||||
Commencement period of new dividend policy | First quarter of 2014 | ||||||||
Dividends Paid Amount Per Share | $ 0.0239 | $ 0.0259 | $ 0.0431 | $ 0.1147 | |||||
Dividends | $ 342,718,000 | $ 0 | $ 0 | ||||||
Dividends paid | 342,718,000 | $ 0 | $ 0 | ||||||
Subsequent Event [Member] | |||||||||
Dividends [Line Items] | |||||||||
Dividends Payable Amount Per Share | $ 0.0171 | ||||||||
Dividend payable date | Mar. 16, 2015 | ||||||||
Dividends Payable, Date of Record | Mar. 04, 2015 | ||||||||
Additional Paid-in Capital [Member] | |||||||||
Dividends [Line Items] | |||||||||
Dividends | $ 189,459,000 | 189,459,000 | |||||||
(Accumulated Losses) Retained Earnings [Member] | |||||||||
Dividends [Line Items] | |||||||||
Dividends | $ 153,259,000 |
X | ||||||||||
- Definition Period when the new dividend policy commenced. No definition available.
|
X | ||||||||||
- Definition Dividends [Line Items] No definition available.
|
X | ||||||||||
- Definition Approximate percentage of aggregate quarterly dividends per consolidated net income. No definition available.
|
X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Date the declared dividend will be paid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The per share amount of a dividend declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Date the holder must own the stock to be entitled to the dividend, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
PROVISIONAL LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MCP LEASE AGREEMENT FOR CITY OF DREAMS MANILA - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2014 | |
Provisional License [Member] | |
Agreements [Line Items] | |
Effective date of agreement | Mar. 13, 2013 |
Expected expiry date of agreement | Jul. 11, 2033 |
Cooperation Agreement [Member] | |
Agreements [Line Items] | |
Effective date of agreement | Mar. 13, 2013 |
Expected expiry date of agreement | Jul. 11, 2033 |
Date of agreement | Oct. 25, 2012 |
Operating Agreement [Member] | |
Agreements [Line Items] | |
Effective date of agreement | Mar. 13, 2013 |
Expected expiry date of agreement | Jul. 11, 2033 |
Date of agreement | Mar. 13, 2013 |
MCP Lease Agreement [Member] | |
Agreements [Line Items] | |
Effective date of agreement | Mar. 13, 2013 |
Expected expiry date of agreement | Jul. 11, 2033 |
Date of agreement | Oct. 25, 2012 |
X | ||||||||||
- Definition Date on which the agreement was entered, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition Date on which the agreement is effective, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition Date which the agreement is set to expire, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition Agreements [Line Items] No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
COMMITMENTS AND CONTINGENCIES - Additional Information - 1 Capital Commitments, Lease Commitments and Other Arrangements (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Commitments And Contingencies [Line Items] | |||
Capital commitments | $ 1,065,813 | ||
Advance payments for construction costs | 107,563 | $ 161,633 | |
Rental expenses (including contingent fees) | 32,829 | 21,815 | $ 18,573 |
Minimum rental expenses | 25,374 | 17,586 | 15,003 |
Contingent rental expenses | 7,455 | 4,229 | 3,570 |
Operating lease minimum fees earned | 7,709 | 7,724 | 9,005 |
Operating lease and right to use fees earned | 25,206 | 27,287 | 22,906 |
Contingent fees earned | $ 17,497 | $ 19,563 | $ 13,901 |
Lease expiry dates - as grantor | 2022-02 | ||
Mocha Clubs [Member] | |||
Commitments And Contingencies [Line Items] | |||
Lease expiry dates - as lessee | 2033-07 | ||
City of Dreams Manila [Member] | |||
Commitments And Contingencies [Line Items] | |||
Lease expiry dates - as lessee | 2033-07 |
X | ||||||||||
- Definition Advance payments for construction costs. No definition available.
|
X | ||||||||||
- Definition Capital Commitments Relating To Investments No definition available.
|
X | ||||||||||
- Definition Commitments And Contingencies [Line Items] No definition available.
|
X | ||||||||||
- Definition Operating Lease Agreements Expiration Date As Grantor. No definition available.
|
X | ||||||||||
- Definition Operating Lease Agreements Expiration Date As Lessee. No definition available.
|
X | ||||||||||
- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
X | ||||||||||
- Definition Amount of contingent rental revenue recognized for the period under lease, based on the occurrences of an event or condition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the payments that the lessee is obligated to make or can be required to make in connection with a property under the terms of an agreement classified as an operating lease, excluding contingent rentals and a guarantee by the lessee of the lessor's debt and the lessee's obligation to pay (apart from the rental payments) executory costs such as insurance, maintenance, and taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
COMMITMENTS AND CONTINGENCIES - Minimum Lease Payments under Non-Cancellable Leases (Detail) $ in Thousands |
Dec. 31, 2014
USD ($)
|
---|---|
Commitments and Contingencies Disclosure [Abstract] | |
2015 | $ 24,143 |
2016 | 19,618 |
2017 | 17,470 |
2018 | 16,832 |
2019 | 17,016 |
Over 2019 | 66,872 |
Total minimum lease payments | $ 161,951 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
COMMITMENTS AND CONTINGENCIES - Minimum Future Fees Received under Non-Cancellable Operating and Right to Use Agreements (Detail) $ in Thousands |
Dec. 31, 2014
USD ($)
|
---|---|
Commitments and Contingencies Disclosure [Abstract] | |
2015 | $ 5,860 |
2016 | 4,487 |
2017 | 1,711 |
2018 | 1,489 |
2019 | 820 |
Total minimum future fees received | $ 14,367 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
COMMITMENTS AND CONTINGENCIES - Additional Information - 2 Other Commitments - Gaming Subconcession (Detail) - 12 months ended Dec. 31, 2014 - Gaming subconcession agreement [Member] |
USD ($)
Seat
|
MOP
Seat
|
MOP |
---|---|---|---|
Commitments And Contingencies [Line Items] | |||
Fixed annual premium | $ 3,744,000 | MOP 30,000,000 | |
Variable premium | $ 100 | MOP 1,000 | |
Percentage of guarantee amount payable quarterly to bank | 1.75% | 1.75% | |
Guarantee from September 8, 2006 to September 8, 2011 [Member] | |||
Commitments And Contingencies [Line Items] | |||
Maximum beneficiary amount | $ 62,395,000 | MOP 500,000,000 | |
Guarantee from September 8, 2011 until the 180th day after the termination date of the gaming subconcession [Member] | |||
Commitments And Contingencies [Line Items] | |||
Maximum beneficiary amount | 37,437,000 | 300,000,000 | |
Reserved exclusively for certain kind of games or to certain players [Member] | |||
Commitments And Contingencies [Line Items] | |||
Variable premium | $ 37,000 | 300,000 | |
Minimum number of tables | 100 | 100 | |
Not reserved exclusively for certain kind of games or to certain players [Member] | |||
Commitments And Contingencies [Line Items] | |||
Variable premium | $ 19,000 | MOP 150,000 | |
Minimum number of tables | 100 | 100 | |
Public Purpose Programs [Member] | |||
Commitments And Contingencies [Line Items] | |||
Percentage of gross revenues of the gaming business operations | 1.60% | 1.60% | |
Urban development, tourist promotion and social security [Member] | |||
Commitments And Contingencies [Line Items] | |||
Percentage of gross revenues of the gaming business operations | 2.40% | 2.40% | |
Special gaming tax [Member] | |||
Commitments And Contingencies [Line Items] | |||
Percentage of gross revenues of the gaming business operations | 35.00% | 35.00% |
X | ||||||||||
- Definition Commitments And Contingencies [Line Items] No definition available.
|
X | ||||||||||
- Definition Fixed Annual Premium Payable No definition available.
|
X | ||||||||||
- Definition Guarantee Of Future Payments No definition available.
|
X | ||||||||||
- Definition Minimum Number Of Tables No definition available.
|
X | ||||||||||
- Definition Percentage Of Gross Revenues No definition available.
|
X | ||||||||||
- Definition Variable Annual Premium Payable No definition available.
|
X | ||||||||||
- Definition Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
COMMITMENTS AND CONTINGENCIES - Additional Information - 3 Other Commitments - Land Concession Contracts (Detail) $ in Thousands |
1 Months Ended | 12 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 29, 2014
USD ($)
|
Dec. 18, 2013
USD ($)
|
Jul. 25, 2012
USD ($)
|
Jul. 31, 2014
USD ($)
Installment
|
Oct. 31, 2013
USD ($)
|
Jul. 31, 2013
USD ($)
|
Mar. 31, 2013
USD ($)
|
Jan. 31, 2013
USD ($)
Installment
|
Jun. 30, 2012
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2006
USD ($)
|
Dec. 31, 2013
USD ($)
|
|
Commitments And Contingencies [Line Items] | ||||||||||||
Outstanding balance of land premium included in accrued expenses and other current liabilities | $ 31,678 | $ 50,500 | ||||||||||
Outstanding balance of land premium included in Land Use Rights Payable | 3,788 | 35,466 | ||||||||||
Altira Macau - Taipa Land [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Additional land premium | $ 2,449 | |||||||||||
Government land use fee payable per annum on land concession contract | 171 | |||||||||||
City of Dreams - Cotai Land [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Additional land premium | $ 23,344 | $ 23,344 | ||||||||||
Total commitment for government land use fees | $ 22,800 | |||||||||||
Contract expiration date | 2033-08 | |||||||||||
Initial land premium | $ 8,736 | |||||||||||
Remaining amount of land premium paid | $ 14,608 | |||||||||||
Remaining amount of land premium to be paid, number of biannual installments | Installment | 4 | |||||||||||
Accrued interest rate paid for land premium | 5.00% | |||||||||||
Government land use fee payable per annum during the development period | $ 1,185 | |||||||||||
Government land use fee payable per annum after the development period | 1,235 | |||||||||||
Outstanding balance of land premium included in accrued expenses and other current liabilities | 7,302 | 3,518 | ||||||||||
Outstanding balance of land premium included in Land Use Rights Payable | 3,788 | 11,090 | ||||||||||
Studio City - Studio City Land [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Additional land premium | $ 35,316 | |||||||||||
Total commitment for government land use fees | $ 11,055 | |||||||||||
Contract expiration date | 2026-10 | |||||||||||
Initial land premium | $ 23,561 | |||||||||||
Remaining amount of land premium paid | $ 116,077 | |||||||||||
Remaining amount of land premium to be paid, number of biannual installments | Installment | 5 | |||||||||||
Accrued interest rate paid for land premium | 5.00% | |||||||||||
Government land use fee payable per annum during the development period | $ 490 | |||||||||||
Government land use fee payable per annum after the development period | 1,131 | |||||||||||
Outstanding balance of land premium included in accrued expenses and other current liabilities | 24,376 | 46,982 | ||||||||||
Outstanding balance of land premium included in Land Use Rights Payable | $ 0 | $ 24,376 | ||||||||||
Land premium amount | $ 174,954 | |||||||||||
Land concession contracts [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Initial contract term (in years) | 25 years | |||||||||||
Contract term of further renewable consecutive periods (in years) | 10 years | |||||||||||
Frequency of land use fee amounts to be adjusted | Every five years | |||||||||||
Revised [Member] | Altira Macau - Taipa Land [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Additional land premium | $ 2,449 | |||||||||||
Additional land premium payment | $ 2,449 | |||||||||||
Government land use fee payable per annum on land concession contract | $ 186 | |||||||||||
Total commitment for government land use fees | $ 3,003 | |||||||||||
Contract expiration date | 2031-03 |
X | ||||||||||
- Definition Accrued Interest Rate Paid For Land Premium No definition available.
|
X | ||||||||||
- Definition Additional land premium paid or payable to the Macau Government for revision of the terms of the land lease agreement. No definition available.
|
X | ||||||||||
- Definition Capital Lease Extended Contractual Lease Term No definition available.
|
X | ||||||||||
- Definition Commitments And Contingencies [Line Items] No definition available.
|
X | ||||||||||
- Definition The year and month (YYYY-MM) in which the contract will be expired. No definition available.
|
X | ||||||||||
- Definition Contractual Obligations Term No definition available.
|
X | ||||||||||
- Definition Frequency Of Land Use Fee Amounts To Be Adjusted No definition available.
|
X | ||||||||||
- Definition Initial Land Premium No definition available.
|
X | ||||||||||
- Definition Government land use fee payable per annum. No definition available.
|
X | ||||||||||
- Definition Government land use fee payable per annum after the development period. No definition available.
|
X | ||||||||||
- Definition Government land use fee payable per annum during the development period. No definition available.
|
X | ||||||||||
- Definition Land Premium Amount No definition available.
|
X | ||||||||||
- Definition Land Use Right Payable Current No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of land use right payable incurred through that date and due after one year (or beyond the operating cycle if longer). No definition available.
|
X | ||||||||||
- Definition Payments For Additional Land Premium No definition available.
|
X | ||||||||||
- Definition Remaining Amount Of Land Premium Paid No definition available.
|
X | ||||||||||
- Definition Remaining amount of land premium to be paid, number of biannual installments. No definition available.
|
X | ||||||||||
- Definition Remaining unfunded commitments to third parties. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
COMMITMENTS AND CONTINGENCIES - Additional Information - 4 Other Commitments - Provisional License (Detail) $ in Thousands |
1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 01, 2014 |
Feb. 17, 2012
USD ($)
|
Feb. 17, 2012
PHP
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
PHP
|
Mar. 31, 2013
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
PHP
|
Dec. 31, 2014
PHP
|
Dec. 14, 2014
USD ($)
|
|
Commitments And Contingencies [Line Items] | |||||||||||
Time limit to submit a bank guarantee, letter of credit or surety bond upon getting approval by PAGCOR of the project implementation plan, days | 30 days | 30 days | |||||||||
Amount of bank guarantee, letter of credit or surety bond required | $ 2,241 | $ 2,241 | $ 2,241 | PHP 100,000,000 | |||||||
Percentage of delay in construction as forfeiture point | 50.00% | 50.00% | 50.00% | 50.00% | |||||||
Number of days to secure a surety bond prior to commencement of operation of the casino | 7 days | 7 days | |||||||||
Initial deposit in the escrow account | $ 100,000 | ||||||||||
Minimum balance of the escrow account | $ 50,000 | ||||||||||
Cultural heritage fee percentage of casino revenues generated from non-junket operation tables payable to PAGCOR | 2.00% | 2.00% | |||||||||
Additional fee percentage on non-gaming revenues payable to PAGCOR | 5.00% | 5.00% | |||||||||
Grounds for revocation of the regular / provisional license - Number of days of failing to remit the license fees upon the receipt of notice of default | 30 days | 30 days | |||||||||
Grounds for revocation of the regular / provisional - Percentage of delay in construction | 50.00% | 50.00% | |||||||||
Grounds for revocation of the regular / provisional - Exceeding the Debt-to-equity ratio | 2.33 | 2.33 | |||||||||
High Roller Tables [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 15.00% | 15.00% | |||||||||
Temporary monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 5.00% | ||||||||||
Non-High Roller Tables [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 25.00% | 25.00% | |||||||||
Temporary monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 15.00% | ||||||||||
Slot Machines And Electronic Gaming Machines [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 25.00% | 25.00% | |||||||||
Temporary monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 15.00% | ||||||||||
Junket Operation [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 15.00% | 15.00% | |||||||||
Temporary monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR | 5.00% | ||||||||||
PAGCOR [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Specific amount that Licensees must invest in Philippines Project as required by PAGCOR under the Provisional License | $ 1,000,000 | ||||||||||
Sharing of PAGCOR investment contributions under Provisional License | 350,000 | ||||||||||
Temporary percentage adjustment of license fee to gross gaming revenues | 10.00% | ||||||||||
PAGCOR [Member] | Minimum [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Required investment commitment to be utilized or invested in Philippines Project by its opening | $ 650,000 | ||||||||||
Philippine Parties [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Sharing of PAGCOR investment contributions under Provisional License | 175,000 | ||||||||||
Philippine Parties [Member] | Land And Building [Member] | Minimum [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Required investment commitment to be utilized or invested in Philippines Project by its opening | 325,000 | ||||||||||
MCE Leisure [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Sharing of PAGCOR investment contributions under Provisional License | 175,000 | ||||||||||
Amount of surety bond submitted | $ 2,241 | PHP 100,000,000 | |||||||||
Amount of surety bond required to ensure prompt and punctual remittance/payment of license fees | $ 2,241 | PHP 100,000,000 | |||||||||
MCE Leisure [Member] | Minimum [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Required investment commitment to be utilized or invested in Philippines Project by its opening | $ 325,000 | ||||||||||
SM Group [Member] | |||||||||||
Commitments And Contingencies [Line Items] | |||||||||||
Amount of surety bond submitted | $ 2,241 | PHP 100,000,000 |
X | ||||||||||
- Definition Additional fee percentage of non-gaming revenue received from food and beverage, retail and entertainment outlets, excluding revenues of hotel operations but including rental income received from retail concessionaires. No definition available.
|
X | ||||||||||
- Definition Required amount of bank guarantee, letter of credit or surety bond to guarantee the completion of the Philippines Project. No definition available.
|
X | ||||||||||
- Definition Amount of surety bond required prior to commencement of operation of the casino to ensure prompt and punctual remittance/payment of license fees. No definition available.
|
X | ||||||||||
- Definition Amount of surety bond submitted. No definition available.
|
X | ||||||||||
- Definition Commitments And Contingencies [Line Items] No definition available.
|
X | ||||||||||
- Definition Committed Capital Contribution No definition available.
|
X | ||||||||||
- Definition Cultural heritage fee percentage of casino revenues generated from non-junket operation tables payable to PAGCOR. No definition available.
|
X | ||||||||||
- Definition Grounds for revocation of the license - Exceeding the Debt-to-equity ratio. No definition available.
|
X | ||||||||||
- Definition Grounds for revocation of the license - Percentage of delay in construction. No definition available.
|
X | ||||||||||
- Definition Grounds for revocation of the license - Number of days of failing to remit the license fees upon the receipt of notice of default. No definition available.
|
X | ||||||||||
- Definition Initial deposit in the escrow account. No definition available.
|
X | ||||||||||
- Definition Required investment Commitment to be utilized or invested in Philippines Project by its opening. No definition available.
|
X | ||||||||||
- Definition Specific amount that Licensees must invest in Philippines Project as required by PAGCOR under the Provisional License. No definition available.
|
X | ||||||||||
- Definition Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR. No definition available.
|
X | ||||||||||
- Definition Minimum balance of the escrow account. No definition available.
|
X | ||||||||||
- Definition The percentage represents the threshold of the delay of construction of City of Dreams Manila in which a forfeiture of the surety bond would be triggered. No definition available.
|
X | ||||||||||
- Definition Period to secure surety bond prior to commencement of operation of casino. No definition available.
|
X | ||||||||||
- Definition Temporary monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR. No definition available.
|
X | ||||||||||
- Definition A temporary reduction of percentage of license fees to gross gaming revenues. No definition available.
|
X | ||||||||||
- Definition Time limit to submit a bank guarantee, letter of credit or surety bond upon getting approval by PACGOR of the project implementation plan. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
COMMITMENTS AND CONTINGENCIES - Additional Information - 5 Guarantees (Detail) $ in Thousands |
1 Months Ended | 12 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2014
USD ($)
|
Dec. 31, 2014
PHP
|
Oct. 31, 2013
USD ($)
|
Oct. 31, 2013
HKD
|
Dec. 31, 2014
USD ($)
Agreement
|
Dec. 31, 2014
MOP
Agreement
|
|
Commitments And Contingencies [Line Items] | ||||||
Issuance of promissory note | $ 68,635 | MOP 550,000,000 | ||||
MCE Leisure [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Amount of surety bond submitted | $ 2,241 | PHP 100,000,000 | ||||
City of Dreams [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Number of deeds of guarantee with third parties | Agreement | 2 | 2 | ||||
Amount entered with third parties in relation to guarantee | 35,000 | $ 35,000 | ||||
Studio City [Member] | Trade Credit Facility [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Amount entered with a bank to meet certain payment obligations | $ 25,707 | HKD 200,000,000 | ||||
Credit facility utilized | $ 5,424 | $ 5,424 |
X | ||||||||||
- Definition Amount entered with a bank to meet certain payment obligations. No definition available.
|
X | ||||||||||
- Definition Amount Entered With Third Parties In Relation To Guarantee No definition available.
|
X | ||||||||||
- Definition Amount of surety bond submitted. No definition available.
|
X | ||||||||||
- Definition Commitments And Contingencies [Line Items] No definition available.
|
X | ||||||||||
- Definition Legal settlements promissory notes issued amount guarantee obligations. No definition available.
|
X | ||||||||||
- Definition Line Of Credit Facility Utilized No definition available.
|
X | ||||||||||
- Definition Number Of Deeds Of Guarantee With Third Parties No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
RELATED PARTY TRANSACTIONS - Schedule of Significant Related Party Transactions (Detail) - USD ($) $ in Thousands |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||||||
Related Party Transaction [Line Items] | ||||||||||
Office rental expense | $ 32,829 | $ 21,815 | $ 18,573 | |||||||
Purchase of property and equipment | 1,637,305 | 912,355 | 283,998 | |||||||
Development costs | 10,734 | 26,297 | 11,099 | |||||||
Crown's subsidiary [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Consultancy fee expense | 387 | 370 | 428 | |||||||
Purchase of property and equipment | 830 | 371 | 351 | |||||||
Software license fee expense | 312 | 312 | 312 | |||||||
Lisboa [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Office rental expense | [1] | 1,810 | 895 | 1,157 | ||||||
Melco's subsidiaries and its associated companies [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Consultancy fee expense | 546 | 643 | 483 | |||||||
Office rental expense | 0 | 308 | 586 | |||||||
Purchase of property and equipment | 2,852 | 597 | 1,479 | |||||||
Service fee expense | [2] | 775 | 802 | 646 | ||||||
Other service fee income | 632 | 510 | 345 | |||||||
Rooms and food and beverage income | 115 | 49 | 161 | |||||||
Shun Tak Group [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Office rental expense | [1] | 199 | 171 | 136 | ||||||
Traveling expense | [1],[3] | 3,641 | 2,962 | 2,976 | ||||||
Sky Shuttle [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Traveling expense | [1] | 1,399 | 1,809 | 1,711 | ||||||
SJM [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Traveling expense | [1],[3] | 515 | 570 | 327 | ||||||
STDM and STDM Group [Member] | Transactions with affiliated companies [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Office rental expense | [1] | 1,457 | 1,405 | 1,404 | ||||||
Service fee expense | [1] | 203 | 222 | 216 | ||||||
Traveling expense | [1],[3] | 14 | 113 | 33 | ||||||
Crown [Member] | Majority Shareholder [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Consultancy fee capitalized in deferred financing costs | 0 | 0 | 222 | |||||||
Melco [Member] | Majority Shareholder [Member] | ||||||||||
Related Party Transaction [Line Items] | ||||||||||
Development costs | $ 0 | $ 0 | $ 3,000 | |||||||
|
X | ||||||||||
- Definition The aggregate amount of costs incurred for pursuit of new business opportunities. No definition available.
|
X | ||||||||||
- Definition Other Service Fee Revenue No definition available.
|
X | ||||||||||
- Definition Related Party Consultation Fee Capitalized No definition available.
|
X | ||||||||||
- Definition Related party consultation fees recognized as expense. No definition available.
|
X | ||||||||||
- Definition Related party service fee expense No definition available.
|
X | ||||||||||
- Definition Rooms, Food And Beverage Revenue No definition available.
|
X | ||||||||||
- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
X | ||||||||||
- Definition Costs incurred and are directly related to generating license revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Expenses incurred for travel and entertainment during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
RELATED PARTY TRANSACTIONS (Due From Affiliated Companies) - Additional Information (Detail) - USD ($) $ in Thousands |
Dec. 18, 2014 |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|---|
Related Party Transaction [Line Items] | |||
Entertainment production costs, net | $ 39,173 | $ 46,437 | |
Amounts due from affiliated companies | 1,079 | 23 | |
Melco's subsidiaries [Member] | Maximum [Member] | Transactions with affiliated companies [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts due from affiliated companies | 1,077 | 1,312 | |
Melcos Associated Company [Member] | Maximum [Member] | Transactions with affiliated companies [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts due from affiliated companies | 20 | 65 | |
Shun Tak Group [Member] | Transactions with affiliated companies [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts due from affiliated companies | 2 | 3 | |
Shun Tak Group [Member] | Maximum [Member] | Transactions with affiliated companies [Member] | |||
Related Party Transaction [Line Items] | |||
Amounts due from affiliated companies | $ 3 | $ 15 | |
Crown's subsidiary [Member] | Transactions with affiliated companies [Member] | |||
Related Party Transaction [Line Items] | |||
Assigned share of short film and all related elements | 50.00% | ||
Entertainment production costs, net | $ 15,619 |
X | ||||||||||
- Definition Advertisement Expense Percentage No definition available.
|
X | ||||||||||
- Definition Long Term Entertainment Production Cost Net No definition available.
|
X | ||||||||||
- Definition Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
RELATED PARTY TRANSACTIONS - Schedule of Outstanding Balances Arising from Operating Income or Prepayment of Operating Expenses (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Related Party Transaction [Line Items] | ||
Amounts due from affiliated companies | $ 1,079 | $ 23 |
Melco's subsidiaries and its associated companies [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due from affiliated companies | 1,077 | 20 |
Shun Tak Group [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due from affiliated companies | $ 2 | $ 3 |
X | ||||||||||
- Definition Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
RELATED PARTY TRANSACTIONS - Schedule of Outstanding Balances Arising from Operating Expenses (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | $ 3,626 | $ 2,900 |
Crown's subsidiary [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | 930 | 474 |
Melco's subsidiaries and its associated companies [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | 1,933 | 1,403 |
Shun Tak Group [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | 343 | 259 |
SJM [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | 215 | 445 |
Sky Shuttle [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | 130 | 151 |
STDM Group [Member] | Transactions with affiliated companies [Member] | ||
Related Party Transaction [Line Items] | ||
Amounts due to affiliated companies | $ 75 | $ 168 |
X | ||||||||||
- Definition Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
RELATED PARTY TRANSACTIONS (Amounts Due From Shareholder) - Additional Information (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
---|---|---|
Related Party Transaction [Line Items] | ||
Due to shareholders | $ 0 | $ 79 |
Melco [Member] | ||
Related Party Transaction [Line Items] | ||
Due to shareholders | $ 79 |
X | ||||||||||
- Definition Amounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
SEGMENT INFORMATION - Additional Information (Detail) |
12 Months Ended |
---|---|
Dec. 31, 2014
Region
| |
City of Dreams Manila [Member] | |
Concentration Risk [Line Items] | |
Commencement of operation date | Dec. 14, 2014 |
Geographic [Member] | |
Concentration Risk [Line Items] | |
Number of geographic areas | 2 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The number of countries in which the entity operates as of balance sheet date. No definition available.
|
X | ||||||||||
- Definition Date the operations of the entity commenced, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SEGMENT INFORMATION - Total Assets (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
---|---|---|---|
Segment Reporting Information [Line Items] | |||
Total consolidated assets | $ 10,260,780 | $ 8,704,286 | $ 7,888,543 |
Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | 7,710,652 | 6,386,730 | 5,765,159 |
Mocha Clubs [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | 173,150 | 159,927 | 176,830 |
Altira Macau [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | 501,105 | 573,814 | 617,847 |
City of Dreams [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | 3,133,680 | 3,148,657 | 3,147,322 |
Studio City [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | 3,902,717 | 2,504,332 | 1,823,160 |
City of Dreams Manila [Member] | The Philippines [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | 1,064,459 | 631,377 | 30,193 |
Corporate and Others [Member] | |||
Segment Reporting Information [Line Items] | |||
Total consolidated assets | $ 1,485,669 | $ 1,686,179 | $ 2,093,191 |
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SEGMENT INFORMATION - Capital Expenditures (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Segment Reporting Information [Line Items] | |||
Total capital expenditures | $ 1,637,305 | $ 912,355 | $ 283,998 |
Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | 1,207,477 | 550,459 | 227,857 |
Mocha Clubs [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | 13,116 | 6,515 | 5,951 |
Altira Macau [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | 21,984 | 5,464 | 7,105 |
City of Dreams [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | 264,922 | 97,654 | 99,416 |
Studio City [Member] | Macau [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | 907,455 | 440,826 | 115,385 |
City of Dreams Manila [Member] | The Philippines [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | 405,196 | 359,854 | 817 |
Corporate and Others [Member] | |||
Segment Reporting Information [Line Items] | |||
Total capital expenditures | $ 24,632 | $ 2,042 | $ 55,324 |
X | ||||||||||
- Definition Amount of acquisition of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SEGMENT INFORMATION - Results of Operations (Detail) - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||
NET REVENUES | ||||||
Total net revenues | $ 4,802,309 | $ 5,087,178 | $ 4,078,013 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | 1,285,474 | 1,379,111 | 995,335 | ||
OPERATING COSTS AND EXPENSES | ||||||
Payments to the Philippine Parties | (870) | 0 | 0 | |||
Pre-opening costs | (90,556) | (13,969) | (5,785) | |||
Development costs | (10,734) | (26,297) | (11,099) | |||
Amortization of gaming subconcession | (57,237) | (57,237) | (57,237) | |||
Amortization of land use rights | (64,471) | (64,271) | (59,911) | |||
Depreciation and amortization | (246,686) | (261,298) | (261,449) | |||
Land rent to Belle | (3,562) | (3,045) | 0 | |||
Share-based compensation | (20,401) | (14,987) | (8,973) | |||
Property charges and others | (8,698) | (6,884) | (8,654) | |||
Gain on disposal of assets held for sale | 22,072 | 0 | 0 | |||
Corporate and Others expenses | (118,971) | (91,299) | (75,135) | |||
Total operating costs and expenses | (600,114) | (539,287) | (488,243) | |||
OPERATING INCOME | 685,360 | 839,824 | 507,092 | |||
NON-OPERATING INCOME (EXPENSES) | ||||||
Interest income | 20,025 | 7,660 | 10,958 | |||
Interest expenses, net of capitalized interest | (124,090) | (152,660) | (109,611) | |||
Change in fair value of interest rate swap agreements | 0 | 0 | 363 | |||
Amortization of deferred financing costs | (28,055) | (18,159) | (13,272) | |||
Loan commitment and other finance fees | (18,976) | (25,643) | (1,324) | |||
Foreign exchange (loss) gain, net | (6,155) | (10,756) | 4,685 | |||
Other income, net | 2,313 | 1,661 | 115 | |||
Loss on extinguishment of debt | 0 | (50,935) | 0 | |||
Costs associated with debt modification | 0 | (10,538) | (3,277) | |||
Total non-operating expenses, net | (154,938) | (259,370) | (111,363) | |||
INCOME BEFORE INCOME TAX | 530,422 | 580,454 | 395,729 | |||
INCOME TAX (EXPENSE) CREDIT | (3,036) | (2,441) | 2,943 | |||
Net income | 527,386 | 578,013 | 398,672 | |||
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 80,894 | 59,450 | 18,531 | |||
Net income attributable to Melco Crown Entertainment Limited | 608,280 | 637,463 | 417,203 | |||
Corporate and Others [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 52,132 | 46,552 | 46,911 | |||
Macau [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 4,742,613 | 5,040,626 | 4,031,102 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | 1,285,468 | 1,379,714 | 995,811 | ||
Macau [Member] | Mocha Clubs [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 147,373 | 148,683 | 143,260 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | 36,337 | 40,222 | 36,065 | ||
Macau [Member] | Altira Macau [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 744,850 | 1,033,801 | 966,770 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | 84,795 | 147,340 | 154,697 | ||
Macau [Member] | City of Dreams [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 3,848,623 | 3,857,049 | 2,920,912 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | 1,165,632 | 1,193,211 | 805,719 | ||
Macau [Member] | Studio City [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 1,767 | 1,093 | 160 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | (1,296) | (1,059) | (670) | ||
The Philippines [Member] | City of Dreams Manila [Member] | ||||||
NET REVENUES | ||||||
Total net revenues | 7,564 | 0 | 0 | |||
ADJUSTED PROPERTY EBITDA | ||||||
Total adjusted property EBITDA | [1] | $ 6 | $ (603) | $ (476) | ||
|
X | ||||||||||
- Definition Adjusted Ebitda No definition available.
|
X | ||||||||||
- Definition Adjusted Property EBITDA [Abstract] No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for debt issuance expenses. No definition available.
|
X | ||||||||||
- Definition The current period expense charged against earnings on land use rights over the estimated lease term of the land. No definition available.
|
X | ||||||||||
- Definition Corporate and Other Operating Expenses No definition available.
|
X | ||||||||||
- Definition Amount represents (1) the difference between the fair value of the payments made and the carrying amount of the debt at the time of the modification of debt and/or (2) the write-off of deferred financing fees associated with the modification. No definition available.
|
X | ||||||||||
- Definition Costs of sales and operating expenses for the period incurred from transactions with the certain parties. No definition available.
|
X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to reflect consumption during the period of an asset that is not used in production. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of costs incurred for pursuit of new business opportunities. No definition available.
|
X | ||||||||||
- Definition Amount before tax of gain (loss) on sale or disposal of assets held for sale. No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for commitment and other finance fees. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business) and the cost of borrowed funds accounted for as interest that was charged against earnings during the period. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of expenses charged against earnings to eliminate the capitalized costs of projects abandoned during the reporting period and expenses associated with business termination activities and other expenses. No definition available.
|
X | ||||||||||
- Definition Except for the expenditures identified for specific nature, expenditures associated with opening new locations which are noncapital in nature and expensed as incurred. No definition available.
|
X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
SEGMENT INFORMATION - Long-Lived Assets (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
---|---|---|---|
Long-Lived Assets [Line Items] | |||
Total long-lived assets | $ 6,097,508 | $ 4,840,098 | $ 4,302,481 |
Macau [Member] | |||
Long-Lived Assets [Line Items] | |||
Total long-lived assets | 5,366,692 | 4,503,982 | 4,301,461 |
The Philippines [Member] | |||
Long-Lived Assets [Line Items] | |||
Total long-lived assets | 728,999 | 334,827 | 817 |
Hong Kong and other foreign countries [Member] | |||
Long-Lived Assets [Line Items] | |||
Total long-lived assets | $ 1,817 | $ 1,289 | $ 203 |
X | ||||||||||
- Definition Long Lived Assets [Line Items] No definition available.
|
X | ||||||||||
- Definition Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
ACQUISITION OF SUBSIDIARIES - Additional Information (Detail) - MCP [Member] $ in Thousands |
Dec. 19, 2012
USD ($)
|
Dec. 19, 2012
PHP
|
Dec. 07, 2012 |
---|---|---|---|
Assets and Liabilities Acquisition [Line Items] | |||
Percentage of acquired equity interest | 93.06% | ||
Payments of consideration | $ 30,682 | PHP 1,259,000,000 | |
Excess payment on acquisition of assets and liabilities | 5,747 | ||
Selling Shareholders [Member] | |||
Assets and Liabilities Acquisition [Line Items] | |||
Payments of consideration | 4,874 | 200,000,000 | |
Selling Shareholders' Liability [Member] | |||
Assets and Liabilities Acquisition [Line Items] | |||
Payments of consideration | $ 25,808 | PHP 1,059,000,000 |
X | ||||||||||
- Definition Amount of cash paid to acquired assets and liabilities. No definition available.
|
X | ||||||||||
- Definition Percentage of voting equity interests acquired in the acquisition. No definition available.
|
X | ||||||||||
- Definition Assets and Liabilities Acquisition [Line Items] No definition available.
|
X | ||||||||||
- Definition Excess Payment On Acquisition Of Assets And Liabilities Charged To Statement of Operations No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
ACQUISITION OF SUBSIDIARIES - Net Assets Acquired (Detail) - Dec. 19, 2012 - MCP [Member] $ in Thousands |
USD ($) |
PHP |
---|---|---|
Net assets acquired: | ||
Cash and cash equivalents | $ 27,876 | |
Prepaid expenses and other current assets | 13 | |
Accrued expenses and other current liabilities | (1,094) | |
Noncontrolling interests | (1,860) | |
Net assets | 24,935 | |
Excess payment on acquisition of assets and liabilities (including direct cost incurred) charged to consolidated statements of operations and included in development costs | 5,747 | |
Allocation of proceeds for payment of acquisition | 30,682 | PHP 1,259,000,000 |
Total consideration satisfied by: | ||
Cash paid | $ 30,682 |
X | ||||||||||
- Definition Amount of cash paid to acquired assets and liabilities. No definition available.
|
X | ||||||||||
- Definition Amount of cash paid to acquire the assets and liabilities. No definition available.
|
X | ||||||||||
- Definition Assets And Liabilities Acquisition Cost Of Acquired Entity [Abstract] No definition available.
|
X | ||||||||||
- Definition Assets And Liabilities Acquisition Recognized Identifiable Assets Acquired And Liabilities Assumed Net No definition available.
|
X | ||||||||||
- Definition The amount of acquisition cost of assets and liabilities acquisition allocated to Accrued Expenses And Other Liabilities. No definition available.
|
X | ||||||||||
- Definition Assets And Liabilities Purchase Price Allocation Assets Acquired Liabilities Assumed Net [Abstract] No definition available.
|
X | ||||||||||
- Definition The amount of cash and cash equivalents acquired in an acquisition of assets and liabilities. No definition available.
|
X | ||||||||||
- Definition The amount of acquisition cost of assets and liabilities acquisition allocated to prepaid expenses and other current receivables, inventory, and assets not to be held. No definition available.
|
X | ||||||||||
- Definition The amount of acquisition cost of assets and liabilities acquisition allocated to noncontrolling interests. No definition available.
|
X | ||||||||||
- Definition Excess Payment On Acquisition Of Assets And Liabilities Charged To Statement of Operations No definition available.
|
X | ||||||||||
- Details
|
CHANGE IN SHAREHOLDING OF THE PHILIPPINE SUBSIDIARIES - Additional Information (Detail) PHP / shares in Units, $ / shares in Units, $ in Thousands |
12 Months Ended | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 24, 2014
USD ($)
|
Apr. 08, 2013
USD ($)
shares
|
Dec. 31, 2014
USD ($)
$ / shares
|
Dec. 31, 2013
USD ($)
$ / shares
shares
|
Jun. 24, 2014
PHP / shares
shares
|
Jun. 24, 2014
$ / shares
shares
|
Apr. 11, 2014
shares
|
Mar. 31, 2014
shares
|
Mar. 13, 2014
shares
|
May 23, 2013
PHP / shares
shares
|
May 23, 2013
$ / shares
shares
|
Apr. 24, 2013
PHP / shares
shares
|
Apr. 24, 2013
$ / shares
shares
|
Apr. 08, 2013
PHP
shares
|
|
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Common stock value per share | $ / shares | $ 0.01 | $ 0.01 | ||||||||||||
Melco Crown Philippines Resorts Corporation [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Subscribed common shares of subsidiary | 2,846,595,000 | 2,846,595,000 | 485,177,000 | 485,177,000 | 36,024,600 | 36,024,600 | 981,183,700 | 981,183,700 | 2,846,595,000 | |||||
Consideration value for subscribed shares | $ 69,592 | PHP 2,846,595,000 | ||||||||||||
Increase (decrease) in additional paid in capital resulting from subscription of common shares | $ | $ 401 | |||||||||||||
Common stock value per share | (per share) | PHP 11.30 | $ 0.26 | PHP 14 | $ 0.34 | PHP 14 | $ 0.34 | ||||||||
Increase in Melco Crown Entertainment Limited additional paid-in capital resulting from the Placing and Subscription Transaction and the Over-allotment Option exercised by the Stabilizing Agent for subscription of common shares of MCP | $ | $ 227,134 | |||||||||||||
Additional Common Stock Shares Acquired | 3,000 | 400 | ||||||||||||
Number Of Common Stock Sold | 200 | |||||||||||||
Total transfer from (to) noncontrolling interests of Melco Crown Entertainment | $ | $ 57,293 | $ 227,535 | ||||||||||||
Melco Crown Philippines Resorts Corporation [Member] | Private Placement [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Subscribed common shares of subsidiary | 485,177,000 | 485,177,000 | 981,183,700 | 981,183,700 | ||||||||||
Increase (decrease) in additional paid in capital resulting from subscription of common shares | $ | $ 57,293 | |||||||||||||
Common stock value per share | (per share) | PHP 11.30 | $ 0.26 | PHP 14 | $ 0.34 | ||||||||||
Melco Crown Philippines Resorts Corporation [Member] | Over-Allotment Option [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Subscribed common shares of subsidiary | 117,075,000 | 117,075,000 | ||||||||||||
Common stock value per share | (per share) | PHP 14 | $ 0.34 | ||||||||||||
Stabilizing Agent [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Subscribed common shares of subsidiary | 36,024,600 | 36,024,600 | ||||||||||||
Common stock value per share | (per share) | PHP 14 | $ 0.34 |
X | ||||||||||
- Definition Change in additional paid in capital resulting from subscription of common shares. No definition available.
|
X | ||||||||||
- Definition Increase in additional paid in capital resulting from change in ownership of a subsidiary in restructuring transactions. No definition available.
|
X | ||||||||||
- Definition Net Transfer From (to) Noncontrolling Interests of Parent. No definition available.
|
X | ||||||||||
- Definition The number of shares being acquired. No definition available.
|
X | ||||||||||
- Definition The number of shares being sold. No definition available.
|
X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of common stock allocated to investors to buy shares of a new issue of common stock before they are offered to the public. When stock is sold on a subscription basis, the issuer does not initially receive the total proceeds. In general, the issuer does not issue the shares to the investor until it receives the entire proceeds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Monetary value of common stock allocated to investors to buy shares of a new issue of common stock before they are offered to the public. When stock is sold on a subscription basis, the issuer does not initially receive the total proceeds. In general, the issuer does not issue the shares to the investor until it receives the entire proceeds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
CHANGE IN SHAREHOLDING OF THE PHILIPPINE SUBSIDIARIES - Effects of Changes in Company's Ownership Interest (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Noncontrolling Interest [Abstract] | |||
Net income attributable to Melco Crown Entertainment Limited | $ 608,280 | $ 637,463 | $ 417,203 |
Transfers from noncontrolling interests: | |||
Increase in Melco Crown Entertainment Limited additional paid-in capital resulting from the 2014 Placing and Subscription Transaction for subscription of common shares of MCP | 57,293 | 0 | |
Increase in Melco Crown Entertainment Limited additional paid-in capital resulting from the Placing and Subscription Transaction and the Over-allotment Option exercised by the Stabilizing Agent for subscription of common shares of MCP | 0 | 227,134 | |
Increase in Melco Crown Entertainment Limited additional paid-in capital resulting from subscription of 2,846,595,000 common shares of MCP | 0 | 401 | |
Changes from net income attributable to Melco Crown Entertainment Limited's shareholders and transfers from noncontrolling interests | $ 665,573 | $ 864,998 |
X | ||||||||||
- Definition Change in additional paid-in capital resulting from restructuring transactions. No definition available.
|
X | ||||||||||
- Definition Increase in additional paid-in capital resulting from the Placing and Subscription Transaction and the Over-allotment Option exercised by the Stabilizing Agent for subscription of common shares of MCP. No definition available.
|
X | ||||||||||
- Definition Increase in additional paid-in capital resulting from subscription of 2,846,595,000 common shares of MCP. No definition available.
|
X | ||||||||||
- Definition This element represents the total net income attributable to the parent for the period and the effect of net changes during the period impacting the parent's ownership interest in a subsidiary as it relates to the total (consolidated) equity attributable to the parent. The changes to the parent's ownership interest in a subsidiary represented by this element did not result in a deconsolidation of the subsidiary from the consolidated financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
CHANGE IN SHAREHOLDING OF THE PHILIPPINE SUBSIDIARIES - Effects of Changes in Company's Ownership Interest (Parenthetical) (Detail) - shares |
Jun. 24, 2014 |
Dec. 31, 2013 |
May 23, 2013 |
Apr. 24, 2013 |
Apr. 08, 2013 |
---|---|---|---|---|---|
Melco Crown Philippines Resorts Corporation [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Subscribed common shares of subsidiary | 485,177,000 | 2,846,595,000 | 36,024,600 | 981,183,700 | 2,846,595,000 |
X | ||||||||||
- Definition Amount of common stock allocated to investors to buy shares of a new issue of common stock before they are offered to the public. When stock is sold on a subscription basis, the issuer does not initially receive the total proceeds. In general, the issuer does not issue the shares to the investor until it receives the entire proceeds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
SUBSEQUENT EVENTS - Additional Information (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Jan. 30, 2015 |
Jan. 02, 2015 |
Dec. 31, 2014 |
|
PAGCOR [Member] | |||
Subsequent Event [Line Items] | |||
Specific amount that Licensees must invest in Philippines Project as required by PAGCOR under the Provisional License | $ 1,000,000 | ||
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Description of Proposed De-Listing notification of entity | On January 2, 2015, the Company submitted an application to the Hong Kong Stock Exchange for the voluntary withdrawal of the listing of its ordinary shares on the Main Board of Hong Kong Stock Exchange (the "Proposed De-Listing"). The Proposed De-Listing is expected to take effect at 400p.m. on Friday, July 3, 2015, subject to fulfillment of the conditions of(a) the approval from the Company's shareholders; (b) the approval from the Listing Committee of the Hong Kong Stock Exchange; and (c) the Companyhaving given its shareholders at least three months' notice of the Proposed De-Listing commencing on the shareholders' approval date. As of the date of this report, condition (a) has been satisfied. | ||
Effective date of Proposed De-listing of entity | Jul. 03, 2015 | ||
Subsequent Event [Member] | PAGCOR [Member] | |||
Subsequent Event [Line Items] | |||
Specific amount that Licensees must invest in Philippines Project as required by PAGCOR under the Provisional License | $ 1,000,000 |
X | ||||||||||
- Definition Entity delisting description. No definition available.
|
X | ||||||||||
- Definition Entity effective date of delisting. No definition available.
|
X | ||||||||||
- Definition Specific amount that Licensees must invest in Philippines Project as required by PAGCOR under the Provisional License. No definition available.
|
X | ||||||||||
- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Balance Sheets (Detail) - USD ($) $ in Thousands |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
Dec. 31, 2011 |
---|---|---|---|---|
CURRENT ASSETS | ||||
Cash and cash equivalents | $ 1,597,655 | $ 1,381,757 | $ 1,709,209 | $ 1,158,024 |
Amount due from an affiliated company | 1,079 | 23 | ||
Prepaid expenses and other current assets | 69,254 | 54,898 | ||
Total current assets | 3,502,961 | 3,148,447 | ||
TOTAL ASSETS | 10,260,780 | 8,704,286 | 7,888,543 | |
CURRENT LIABILITIES | ||||
Accrued expenses and other current liabilities | 1,005,720 | 928,751 | ||
Income tax payable | 6,621 | 6,584 | ||
Amounts due to affiliated companies | 3,626 | 2,900 | ||
Amount due to a shareholder | 0 | 79 | ||
Total current liabilities | 1,315,004 | 1,235,455 | ||
OTHER LONG-TERM LIABILITIES | 93,441 | 28,492 | ||
SHAREHOLDERS' EQUITY | ||||
Ordinary shares at US$0.01 par value per share (Authorized-7,300,000,000 shares as of December 31, 2014 and 2013 and issued-1,633,701,920 and 1,666,633,448 shares as of December 31, 2014 and 2013, respectively) | 16,337 | 16,667 | ||
Additional paid-in capital | 3,092,943 | 3,479,399 | ||
Accumulated other comprehensive losses | (17,149) | (15,592) | ||
Retained earnings | 1,227,177 | 772,156 | ||
Total Melco Crown Entertainment Limited shareholders' equity | 4,286,141 | 4,246,670 | ||
TOTAL LIABILITIES AND EQUITY | 10,260,780 | 8,704,286 | ||
Parent Company [Member] | ||||
CURRENT ASSETS | ||||
Cash and cash equivalents | 7,708 | 3,414 | $ 2,887 | $ 77,805 |
Amount due from an affiliated company | 1,091 | 0 | ||
Amounts due from subsidiaries | 238,090 | 74,930 | ||
Prepaid expenses and other current assets | 7,565 | 3,717 | ||
Total current assets | 254,454 | 82,061 | ||
INVESTMENTS IN SUBSIDIARIES | 5,915,023 | 5,492,941 | ||
TOTAL ASSETS | 6,169,477 | 5,575,002 | ||
CURRENT LIABILITIES | ||||
Accrued expenses and other current liabilities | 2,920 | 2,336 | ||
Income tax payable | 239 | 128 | ||
Amounts due to affiliated companies | 24 | 1,783 | ||
Amounts due to subsidiaries | 183,872 | 181,819 | ||
Amount due to a shareholder | 0 | 67 | ||
Total current liabilities | 187,055 | 186,133 | ||
ADVANCE FROM A SUBSIDIARY | 1,696,090 | 1,142,199 | ||
OTHER LONG-TERM LIABILITIES | 191 | 0 | ||
SHAREHOLDERS' EQUITY | ||||
Ordinary shares at US$0.01 par value per share (Authorized-7,300,000,000 shares as of December 31, 2014 and 2013 and issued-1,633,701,920 and 1,666,633,448 shares as of December 31, 2014 and 2013, respectively) | 16,337 | 16,667 | ||
Treasury shares, at cost (17,684,386 and 16,222,246 shares as of December 31, 2014 and 2013, respectively) | (33,167) | (5,960) | ||
Additional paid-in capital | 3,092,943 | 3,479,399 | ||
Accumulated other comprehensive losses | (17,149) | (15,592) | ||
Retained earnings | 1,227,177 | 772,156 | ||
Total Melco Crown Entertainment Limited shareholders' equity | 4,286,141 | 4,246,670 | ||
TOTAL LIABILITIES AND EQUITY | $ 6,169,477 | $ 5,575,002 |
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer); and the aggregate carrying amount of current obligations not separately disclosed in the balance sheet that are expected to be paid within one year. No definition available.
|
X | ||||||||||
- Definition Amount of advance from a subsidiary, due after one year (or one business cycle). No definition available.
|
X | ||||||||||
- Definition Due From Subsidiaries Current No definition available.
|
X | ||||||||||
- Definition Due To Subsidiaries Current No definition available.
|
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amounts due to recorded owners or owners with a beneficial interest of more than 10 percent of the voting interests or officers of the company. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total investments in (A) an entity in which the entity has significant influence, but does not have control, (B) subsidiaries that are not required to be consolidated and are accounted for using the equity and or cost method, and (C) an entity in which the reporting entity shares control of the entity with another party or group. Includes long-term advances receivable from a party that is affiliated with the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Balance Sheets (Parenthetical) (Detail) - $ / shares |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
---|---|---|---|
Condensed Financial Statements, Captions [Line Items] | |||
Ordinary shares, par value | $ 0.01 | $ 0.01 | |
Ordinary shares, authorized | 7,300,000,000 | 7,300,000,000 | |
Ordinary shares, issued | 1,633,701,920 | 1,666,633,448 | 1,658,059,295 |
Treasury shares, shares | 17,684,386 | 16,222,246 | 11,267,038 |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Ordinary shares, par value | $ 0.01 | $ 0.01 | |
Ordinary shares, authorized | 7,300,000,000 | 7,300,000,000 | |
Ordinary shares, issued | 1,633,701,920 | 1,666,633,448 | |
Treasury shares, shares | 17,684,386 | 16,222,246 |
X | ||||||||||
- Definition Number of common stock i) issued by an entity and held by the depository bank to facilitate the administration and operations of the entity's share incentive plans, and are to be delivered to the Directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options; ii) the shares purchased under a trust arrangement for the benefit of certain beneficiaries who are awardees under the share incentive plan and held by a trustee to facilitate the future vesting of restricted shares in selected Directors, employees and consultants under the share incentive plan; and iii) the shares repurchased by the entity under the stock repurchase program pending for retirement. No definition available.
|
X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Statements of Operations (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Condensed Financial Statements, Captions [Line Items] | |||
REVENUE | $ 4,802,309 | $ 5,087,178 | $ 4,078,013 |
OPERATING EXPENSES | |||
General and administrative | (311,696) | (255,780) | (226,980) |
Total operating expenses | (600,114) | (539,287) | (488,243) |
OPERATING INCOME | 685,360 | 839,824 | 507,092 |
NON-OPERATING INCOME (EXPENSES) | |||
Interest expenses, net of capitalized interest | (124,090) | (152,660) | (109,611) |
Amortization of deferred financing cost | (28,055) | (18,159) | (13,272) |
Foreign exchange gain (loss), net | (6,155) | (10,756) | 4,685 |
Other income, net | 2,313 | 1,661 | 115 |
Loss on extinguishment of debt | 0 | (50,935) | 0 |
Total non-operating expenses, net | (154,938) | (259,370) | (111,363) |
INCOME BEFORE INCOME TAX | 530,422 | 580,454 | 395,729 |
INCOME TAX EXPENSE | (3,036) | (2,441) | 2,943 |
Net income | 527,386 | 578,013 | 398,672 |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
REVENUE | 0 | 0 | 0 |
OPERATING EXPENSES | |||
General and administrative | (33,887) | (33,345) | (26,164) |
Total operating expenses | (33,887) | (33,345) | (26,164) |
OPERATING INCOME | (33,887) | (33,345) | (26,164) |
NON-OPERATING INCOME (EXPENSES) | |||
Interest income | 3 | (403) | 5,544 |
Interest expenses, net of capitalized interest | 0 | (4,274) | (16,634) |
Amortization of deferred financing cost | 0 | (748) | (3,732) |
Foreign exchange gain (loss), net | 569 | (1,231) | 118 |
Other income, net | 22,325 | 20,366 | 17,103 |
Loss on extinguishment of debt | 0 | (679) | 0 |
Share of results of subsidiaries | 620,023 | 658,016 | 441,112 |
Total non-operating expenses, net | 642,920 | 671,047 | 443,511 |
INCOME BEFORE INCOME TAX | 609,033 | 637,702 | 417,347 |
INCOME TAX EXPENSE | (753) | (239) | (144) |
Net income | $ 608,280 | $ 637,463 | $ 417,203 |
X | ||||||||||
- Definition Represents the charge against earnings during the period for debt issuance expenses. No definition available.
|
X | ||||||||||
- Definition The aggregate amount of income (expense) from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business) and the cost of borrowed funds accounted for as interest that was charged against earnings during the period. No definition available.
|
X | ||||||||||
- Definition The amount represents interest income on bank deposits. The negative value represents forfeiture of interest income on a pledged deposit where the placement of deposit was early terminated. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Statements of Comprehensive Income (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Condensed Financial Statements, Captions [Line Items] | |||
Net income | $ 527,386 | $ 578,013 | $ 398,672 |
Other comprehensive (loss) income: | |||
Change in fair value of interest rate swap agreements | (19) | 0 | 0 |
Change in fair value of forward exchange rate contracts | 0 | 0 | 99 |
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | 0 | (138) |
Other comprehensive loss | (2,487) | (23,399) | (23) |
Comprehensive income attributable to Melco Crown Entertainment Limited | 606,723 | 622,928 | 417,189 |
Parent Company [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Net income | 608,280 | 637,463 | 417,203 |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustment | (1,538) | (14,535) | 16 |
Change in fair value of interest rate swap agreements | (19) | 0 | 0 |
Change in fair value of forward exchange rate contracts | 0 | 0 | 99 |
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | 0 | (138) |
Other comprehensive loss | (1,557) | (14,535) | (23) |
Comprehensive income attributable to Melco Crown Entertainment Limited | $ 606,723 | $ 622,928 | $ 417,180 |
X | ||||||||||
- Definition Change in fair value of forward exchange rate contracts. No definition available.
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Statements of Shareholders' Equity (Detail) - USD ($) |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Apr. 16, 2014 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ 4,924,982,000 | $ 3,740,756,000 | $ 3,187,652,000 | ||||
Net income for the year | 527,386,000 | 578,013,000 | 398,672,000 | ||||
Change in fair value of forward exchange rate contracts | 0 | 0 | 99,000 | ||||
Change in fair value of interest rate swap agreements | (19,000) | 0 | 0 | ||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | 0 | (138,000) | ||||
Share-based compensation | 20,401,000 | 15,002,000 | 8,973,000 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | (1,721,000) | (8,770,000) | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | (300,495,000) | ||||||
Retirement of shares | 0 | ||||||
Issuance of shares for restricted shares vested | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 2,156,000 | 4,919,000 | 3,631,000 | ||||
Change in shareholding of the Philippine subsidiaries | 122,166,000 | 338,461,000 | |||||
Dividends declared | (342,718,000) | 0 | 0 | ||||
ENDING BALANCE | 5,041,670,000 | 4,924,982,000 | 3,740,756,000 | ||||
Ordinary Shares [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ 16,667,000 | $ 16,581,000 | $ 16,531,000 | ||||
BEGINNING BALANCE (in shares) | 1,666,633,448 | 1,658,059,295 | 1,653,101,002 | ||||
Net income for the year | $ 0 | $ 0 | $ 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | $ 0 | $ 0 | |||||
Shares purchased under trust arrangement for future vesting of restricted shares (in shares) | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | $ 0 | $ 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested (in shares) | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | $ 86,000 | $ 50,000 | |||||
Shares repurchased for retirement | $ 0 | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | 8,574,153 | 4,958,293 | |||||
Shares repurchased for retirement (in shares) | 0 | ||||||
Retirement of shares | $ (330,000) | ||||||
Retirement of shares (in shares) | (32,931,528) | ||||||
Issuance of shares for restricted shares vested | $ 0 | $ 0 | $ 0 | ||||
Issuance of shares for restricted shares vested (in shares) | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | $ 0 | ||||||
Cancellation of vested restricted shares (in shares) | 0 | ||||||
Exercise of share options | $ 0 | $ 0 | $ 0 | ||||
Exercise of share options (in shares) | 0 | 0 | 0 | ||||
Change in shareholding of the Philippine subsidiaries | $ 0 | $ 0 | |||||
Dividends declared | 0 | ||||||
ENDING BALANCE | $ 16,337,000 | $ 16,667,000 | $ 16,581,000 | ||||
ENDING BALANCE (in shares) | 1,633,701,920 | 1,666,633,448 | 1,658,059,295 | ||||
Treasury Shares [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ (5,960,000) | $ (113,000) | $ (106,000) | ||||
BEGINNING BALANCE (in shares) | [1] | (16,222,246) | (11,267,038) | (10,552,328) | |||
Net income for the year | $ 0 | $ 0 | $ 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | $ (1,721,000) | $ (8,770,000) | |||||
Shares purchased under trust arrangement for future vesting of restricted shares (in shares) | [1] | (208,278) | (1,121,838) | ||||
Transfer of shares purchased under trust arrangement for restricted shares vested | $ 3,648,000 | $ 2,965,000 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested (in shares) | [1] | 467,121 | 378,579 | ||||
Shares issued for future vesting of restricted shares and exercise of share options | $ (86,000) | $ (50,000) | |||||
Shares repurchased for retirement | $ (300,495,000) | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | [1] | (8,574,153) | (4,958,293) | ||||
Shares repurchased for retirement (in shares) | [1] | (36,649,344) | |||||
Retirement of shares | $ 271,341,000 | ||||||
Retirement of shares (in shares) | [1] | 32,931,528 | |||||
Issuance of shares for restricted shares vested | $ 11,000 | $ 13,000 | $ 13,000 | ||||
Issuance of shares for restricted shares vested (in shares) | [1] | 1,068,534 | 1,297,902 | 1,276,634 | |||
Cancellation of vested restricted shares | $ 0 | ||||||
Cancellation of vested restricted shares (in shares) | [1] | (6) | |||||
Exercise of share options | $ 9,000 | $ 31,000 | $ 30,000 | ||||
Exercise of share options (in shares) | [1] | 928,299 | 3,064,302 | 2,966,955 | |||
Change in shareholding of the Philippine subsidiaries | $ 0 | $ 0 | |||||
Dividends declared | 0 | ||||||
ENDING BALANCE | $ (33,167,000) | $ (5,960,000) | $ (113,000) | ||||
ENDING BALANCE (in shares) | [1] | (17,684,386) | (16,222,246) | (11,267,038) | |||
Additional Paid-in Capital [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ 3,479,399,000 | $ 3,235,835,000 | $ 3,223,274,000 | ||||
Net income for the year | 0 | 0 | 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 18,233,000 | 14,119,000 | 8,973,000 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | (3,648,000) | (2,965,000) | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | 0 | ||||||
Retirement of shares | (271,011,000) | ||||||
Issuance of shares for restricted shares vested | (11,000) | (13,000) | (13,000) | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 2,147,000 | 4,888,000 | 3,601,000 | ||||
Change in shareholding of the Philippine subsidiaries | 57,293,000 | 227,535,000 | |||||
Dividends declared | $ (189,459,000) | (189,459,000) | |||||
ENDING BALANCE | 3,092,943,000 | 3,479,399,000 | 3,235,835,000 | ||||
Accumulated Other Comprehensive Losses [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | (15,592,000) | (1,057,000) | (1,034,000) | ||||
Net income for the year | 0 | 0 | 0 | ||||
Change in fair value of forward exchange rate contracts | 99,000 | ||||||
Change in fair value of interest rate swap agreements | (19,000) | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | (138,000) | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | 0 | ||||||
Retirement of shares | 0 | ||||||
Issuance of shares for restricted shares vested | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 0 | 0 | 0 | ||||
Change in shareholding of the Philippine subsidiaries | 0 | 0 | |||||
Dividends declared | 0 | ||||||
ENDING BALANCE | (17,149,000) | (15,592,000) | (1,057,000) | ||||
(Accumulated Losses) Retained Earnings [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | 772,156,000 | 134,693,000 | (282,510,000) | ||||
Net income for the year | 608,280,000 | 637,463,000 | 417,203,000 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | 0 | ||||||
Retirement of shares | 0 | ||||||
Issuance of shares for restricted shares vested | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 0 | 0 | 0 | ||||
Change in shareholding of the Philippine subsidiaries | 0 | 0 | |||||
Dividends declared | (153,259,000) | ||||||
ENDING BALANCE | 1,227,177,000 | 772,156,000 | 134,693,000 | ||||
Parent Company [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | 4,246,670,000 | 3,385,939,000 | 2,956,155,000 | ||||
Net income for the year | 608,280,000 | 637,463,000 | 417,203,000 | ||||
Foreign currency translation adjustment | (1,538,000) | (14,535,000) | 16,000 | ||||
Change in fair value of forward exchange rate contracts | 0 | 0 | 99,000 | ||||
Change in fair value of interest rate swap agreements | (19,000) | 0 | 0 | ||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | 0 | (138,000) | ||||
Share-based compensation | 18,233,000 | 14,119,000 | 8,973,000 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | (1,721,000) | (8,770,000) | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | (300,495,000) | ||||||
Retirement of shares | 0 | ||||||
Issuance of shares for restricted shares vested | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 2,156,000 | 4,919,000 | 3,631,000 | ||||
Change in shareholding of the Philippine subsidiaries | 57,293,000 | 227,535,000 | |||||
Dividends declared | (342,718,000) | ||||||
ENDING BALANCE | 4,286,141,000 | 4,246,670,000 | 3,385,939,000 | ||||
Parent Company [Member] | Ordinary Shares [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ 16,667,000 | $ 16,581,000 | $ 16,531,000 | ||||
BEGINNING BALANCE (in shares) | 1,666,633,448 | 1,658,059,295 | 1,653,101,002 | ||||
Net income for the year | $ 0 | $ 0 | $ 0 | ||||
Foreign currency translation adjustment | 0 | 0 | 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | $ 0 | $ 0 | |||||
Shares purchased under trust arrangement for future vesting of restricted shares (in shares) | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | $ 0 | $ 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested (in shares) | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | $ 86,000 | $ 50,000 | |||||
Shares repurchased for retirement | $ 0 | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | 8,574,153 | 4,958,293 | |||||
Shares repurchased for retirement (in shares) | 0 | ||||||
Retirement of shares | $ (330,000) | ||||||
Retirement of shares (in shares) | (32,931,528) | ||||||
Issuance of shares for restricted shares vested | $ 0 | $ 0 | $ 0 | ||||
Issuance of shares for restricted shares vested (in shares) | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | $ 0 | ||||||
Cancellation of vested restricted shares (in shares) | 0 | ||||||
Exercise of share options | $ 0 | $ 0 | $ 0 | ||||
Exercise of share options (in shares) | 0 | 0 | 0 | ||||
Change in shareholding of the Philippine subsidiaries | $ 0 | $ 0 | |||||
Dividends declared | 0 | ||||||
ENDING BALANCE | $ 16,337,000 | $ 16,667,000 | $ 16,581,000 | ||||
ENDING BALANCE (in shares) | 1,633,701,920 | 1,666,633,448 | 1,658,059,295 | ||||
Parent Company [Member] | Treasury Shares [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ (5,960,000) | $ (113,000) | $ (106,000) | ||||
BEGINNING BALANCE (in shares) | (16,222,246) | (11,267,038) | (10,552,328) | ||||
Net income for the year | $ 0 | $ 0 | $ 0 | ||||
Foreign currency translation adjustment | 0 | 0 | 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | $ (1,721,000) | $ (8,770,000) | |||||
Shares purchased under trust arrangement for future vesting of restricted shares (in shares) | (208,278) | (1,121,838) | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | $ 3,648,000 | $ 2,965,000 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested (in shares) | 467,121 | 378,579 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | $ (86,000) | $ (50,000) | |||||
Shares repurchased for retirement | $ (300,495,000) | ||||||
Shares issued for future vesting of restricted shares and exercise of share options (in shares) | (8,574,153) | (4,958,293) | |||||
Shares repurchased for retirement (in shares) | (36,649,344) | ||||||
Retirement of shares | $ 271,341,000 | ||||||
Retirement of shares (in shares) | 32,931,528 | ||||||
Issuance of shares for restricted shares vested | $ 11,000 | $ 13,000 | $ 13,000 | ||||
Issuance of shares for restricted shares vested (in shares) | 1,068,534 | 1,297,902 | 1,276,634 | ||||
Cancellation of vested restricted shares | $ 0 | ||||||
Cancellation of vested restricted shares (in shares) | (6) | ||||||
Exercise of share options | $ 9,000 | $ 31,000 | $ 30,000 | ||||
Exercise of share options (in shares) | 928,299 | 3,064,302 | 2,966,955 | ||||
Change in shareholding of the Philippine subsidiaries | $ 0 | $ 0 | |||||
Dividends declared | 0 | ||||||
ENDING BALANCE | $ (33,167,000) | $ (5,960,000) | $ (113,000) | ||||
ENDING BALANCE (in shares) | (17,684,386) | (16,222,246) | (11,267,038) | ||||
Parent Company [Member] | Additional Paid-in Capital [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | $ 3,479,399,000 | $ 3,235,835,000 | $ 3,223,274,000 | ||||
Net income for the year | 0 | 0 | 0 | ||||
Foreign currency translation adjustment | 0 | 0 | 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 18,233,000 | 14,119,000 | 8,973,000 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | (3,648,000) | (2,965,000) | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | 0 | ||||||
Retirement of shares | (271,011,000) | ||||||
Issuance of shares for restricted shares vested | (11,000) | (13,000) | (13,000) | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 2,147,000 | 4,888,000 | 3,601,000 | ||||
Change in shareholding of the Philippine subsidiaries | 57,293,000 | 227,535,000 | |||||
Dividends declared | (189,459,000) | ||||||
ENDING BALANCE | 3,092,943,000 | 3,479,399,000 | 3,235,835,000 | ||||
Parent Company [Member] | Accumulated Other Comprehensive Losses [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | (15,592,000) | (1,057,000) | (1,034,000) | ||||
Net income for the year | 0 | 0 | 0 | ||||
Foreign currency translation adjustment | (1,538,000) | (14,535,000) | 16,000 | ||||
Change in fair value of forward exchange rate contracts | 99,000 | ||||||
Change in fair value of interest rate swap agreements | (19,000) | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | (138,000) | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | 0 | ||||||
Retirement of shares | 0 | ||||||
Issuance of shares for restricted shares vested | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 0 | 0 | 0 | ||||
Change in shareholding of the Philippine subsidiaries | 0 | 0 | |||||
Dividends declared | 0 | ||||||
ENDING BALANCE | (17,149,000) | (15,592,000) | (1,057,000) | ||||
Parent Company [Member] | (Accumulated Losses) Retained Earnings [Member] | |||||||
Condensed Financial Statements, Captions [Line Items] | |||||||
BEGINNING BALANCE | 772,156,000 | 134,693,000 | (282,510,000) | ||||
Net income for the year | 608,280,000 | 637,463,000 | 417,203,000 | ||||
Foreign currency translation adjustment | 0 | 0 | 0 | ||||
Change in fair value of forward exchange rate contracts | 0 | ||||||
Change in fair value of interest rate swap agreements | 0 | ||||||
Reclassification to earnings upon settlement of forward exchange rate contracts | 0 | ||||||
Share-based compensation | 0 | 0 | 0 | ||||
Shares purchased under trust arrangement for future vesting of restricted shares | 0 | 0 | |||||
Transfer of shares purchased under trust arrangement for restricted shares vested | 0 | 0 | |||||
Shares issued for future vesting of restricted shares and exercise of share options | 0 | 0 | |||||
Shares repurchased for retirement | 0 | ||||||
Retirement of shares | 0 | ||||||
Issuance of shares for restricted shares vested | 0 | 0 | 0 | ||||
Cancellation of vested restricted shares | 0 | ||||||
Exercise of share options | 0 | 0 | 0 | ||||
Change in shareholding of the Philippine subsidiaries | 0 | 0 | |||||
Dividends declared | (153,259,000) | ||||||
ENDING BALANCE | $ 1,227,177,000 | $ 772,156,000 | $ 134,693,000 | ||||
|
X | ||||||||||
- Definition The amount of vested restricted shares canceled. No definition available.
|
X | ||||||||||
- Definition Change in fair value of forward exchange rate contracts. No definition available.
|
X | ||||||||||
- Definition This element represents the effect of net changes during the period impacting the parent's ownership interest in subsidiaries. The changes to the parent's ownership interest in subsidiaries represented by this element did not result in a deconsolidation of the subsidiaries from the consolidated financial statements. No definition available.
|
X | ||||||||||
- Definition The number of vested restricted shares cancelled. No definition available.
|
X | ||||||||||
- Definition Number of shares issued against treasury shares during the period for future vesting of Restricted Stock Awards and exercise of share options. No definition available.
|
X | ||||||||||
- Definition Value of stock issued against treasury shares during the period for future vesting of Restricted Stock Awards and exercise of share options. No definition available.
|
X | ||||||||||
- Definition Number of shares issued related to Restricted Stock Awards transferred from treasury shares during the period, net of any shares forfeited. No definition available.
|
X | ||||||||||
- Definition Value of shares issued related to Restricted Stock Awards transferred from treasury shares during the period, net of the share value of such awards forfeited. No definition available.
|
X | ||||||||||
- Definition Stock Purchased During Period Shares, Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Stock Purchased During Period Value, Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Number of shares that have been repurchased during the period under Share Repurchase Program for retirement. No definition available.
|
X | ||||||||||
- Definition Value of shares that have been repurchased during the period under Share Repurchase Program for retirement. No definition available.
|
X | ||||||||||
- Definition Number of shares that have been retired during the period under Share Repurchase Program. No definition available.
|
X | ||||||||||
- Definition Value of shares that have been retired during the period under Share Repurchase Program. The excess of the purchase price over par value can be charged against additional paid in capital. No definition available.
|
X | ||||||||||
- Definition Transfer of Shares Purchased Under Trust Arrangement for Future Vesting of Restricted Shares No definition available.
|
X | ||||||||||
- Definition Transfer of Shares Purchased Under Trust Arrangement for Future Vesting of Restricted Shares, Value No definition available.
|
X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income for translation gain (loss) realized upon the sale or liquidation of an investment in a foreign entity and foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
X | ||||||||||
- Definition Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Statements of Cash Flows (Detail) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 527,386 | $ 578,013 | $ 398,672 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Share-based compensation | 20,401 | 14,987 | 8,973 |
Amortization of deferred financing cost | 28,055 | 18,159 | 13,272 |
Loss on extinguishment of debt | 0 | 50,935 | 0 |
Reclassification of accumulated income of forward exchange rate contracts from accumulated other comprehensive losses | 0 | 0 | (138) |
Changes in operating assets and liabilities: | |||
Amount due from an affiliated company | (1,056) | 1,299 | 524 |
Prepaid expenses and other current assets | (3,893) | (25,974) | (3,716) |
Accrued expenses and other current liabilities | (42,668) | 71,527 | 164,886 |
Income tax payable | (239) | 5,640 | (313) |
Amount due to a shareholder | (79) | 79 | 0 |
Amounts due to affiliated companies | (2,000) | 2,164 | (564) |
Other long-term liabilities | 26,271 | 2,010 | 809 |
Net cash provided by (used in) operating activities | 894,614 | 1,151,934 | 950,233 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Change in restricted cash | (678,151) | 268,414 | (1,047,019) |
Net cash used in investing activities | (1,605,269) | (1,209,270) | (1,335,718) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividends paid | (342,718) | 0 | 0 |
Repurchase of shares for retirement | (300,495) | 0 | 0 |
Purchase of shares under trust arrangement for future vesting of restricted shares | (1,721) | (8,770) | 0 |
Principal payments on long-term debt | (262,563) | (1,667,969) | (2,755) |
Proceeds from exercise of share options | 736 | 4,017 | 3,599 |
Net cash (used in) provided by financing activities | 926,950 | (264,967) | 934,735 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 215,898 | (327,452) | 551,185 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 1,381,757 | 1,709,209 | 1,158,024 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 1,597,655 | 1,381,757 | 1,709,209 |
Parent Company [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | 608,280 | 637,463 | 417,203 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Share-based compensation | 12,576 | 11,249 | 8,973 |
Amortization of deferred financing cost | 0 | 748 | 3,732 |
Loss on extinguishment of debt | 0 | 679 | 0 |
Reclassification of accumulated income of forward exchange rate contracts from accumulated other comprehensive losses | 0 | 0 | (138) |
Dividend received from subsidiary | 420,000 | 0 | 0 |
Share of results of subsidiaries | (620,023) | (658,016) | (441,112) |
Changes in operating assets and liabilities: | |||
Amount due from an affiliated company | (1,091) | 1,113 | 438 |
Prepaid expenses and other current assets | (2,429) | (367) | 3,649 |
Long-term prepayments | 0 | 0 | 135 |
Accrued expenses and other current liabilities | 584 | (4,129) | (1,852) |
Income tax payable | 111 | 394 | (333) |
Amount due to a shareholder | (67) | 67 | 0 |
Amounts due to affiliated companies | (1,759) | 1,724 | 7 |
Amounts due to subsidiaries | 2,053 | 1,189 | (238) |
Other long-term liabilities | 191 | 0 | 0 |
Net cash provided by (used in) operating activities | 418,426 | (7,886) | (9,536) |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Advances to subsidiaries | (155,883) | (497,325) | (277,945) |
Amounts due from subsidiaries | (167,606) | 1,800 | (26,975) |
Repayment of advance to a subsidiary | 400 | 1,337 | 10,512 |
Change in restricted cash | 0 | 368,177 | 0 |
Net cash used in investing activities | (323,089) | (126,011) | (294,408) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Dividends paid | (342,718) | 0 | 0 |
Repurchase of shares for retirement | (300,495) | 0 | 0 |
Purchase of shares under trust arrangement for future vesting of restricted shares | (1,721) | (8,770) | 0 |
Principal payments on long-term debt | 0 | (721,455) | 0 |
Proceeds from exercise of share options | 0 | 4,017 | 3,599 |
Advance from a subsidiary | 553,891 | 860,632 | 225,427 |
Net cash (used in) provided by financing activities | (91,043) | 134,424 | 229,026 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 4,294 | 527 | (74,918) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 3,414 | 2,887 | 77,805 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | $ 7,708 | $ 3,414 | $ 2,887 |
X | ||||||||||
- Definition The net cash flow from advances from a subsidiary due after one year (or one business cycle). No definition available.
|
X | ||||||||||
- Definition The net cash flow from advances to Subsidiaries. No definition available.
|
X | ||||||||||
- Definition Represents the charge against earnings during the period for debt issuance expenses. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of accrued expenses and other current liabilities. No definition available.
|
X | ||||||||||
- Definition The net cash flow from increase (decrease) of amounts due from subsidiaries. No definition available.
|
X | ||||||||||
- Definition Increase Decrease In Due To Subsidiaries No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of long-term prepayment. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the value of prepaid expenses and other current assets. No definition available.
|
X | ||||||||||
- Definition Payments for purchase of shares under trust arrangement for future vesting of restricted shares. No definition available.
|
X | ||||||||||
- Definition Net of tax amount of the income statement impact of the reclassification adjustment for translation gain (loss) realized upon the sale or complete or substantially complete liquidation of an investment in a foreign entity. Also includes reclassification adjustments on foreign currency hedges that are designated and qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation. No definition available.
|
X | ||||||||||
- Definition Repayments Of Advances To Subsidiaries Net No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in current receivables (due within one year or one operating cycle) to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) in current obligations (due within one year or one operating cycle) owed to an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) in current obligations (due within one year or one operating cycle) owed to reporting entity's executives and owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows. No definition available.
|
X | ||||||||||
- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Dividends received on equity and other investments during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
FINANCIAL STATEMENT SCHEDULE I - Additional Information (Detail) - Parent Company [Member] - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
Minimum rate for preparation of financial schedule with respect to Restricted net assets of the consolidated and unconsolidated subsidiaries | 25.00% | ||
Restricted net assets not available for distribution | $ 3,786,000 | $ 3,473,000 | |
Dividend received from subsidiary | $ 420,000 | $ 0 | $ 0 |
X | ||||||||||
- Definition Amount of restricted net assets of consolidated and unconsolidated subsidiaries as of the end of the most recently completed fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Dividends received on equity and other investments during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The percent of net assets of the aggregate value of all restricted investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|