Segment Information The Companys principal operating and developmental activities occur in three geographic areas: Macao, Singapore and the U.S. The Company reviews the results of operations and construction and development activities for each of its operating segments: The Venetian Macao; Sands Cotai Central; The Parisian Macao; The Plaza Macao and Four Seasons Hotel Macao; Sands Macao; Marina Bay Sands; Las Vegas Operating Properties; and, through May 30, 2019, Sands Bethlehem. The Company has included Ferry Operations and Other (comprised primarily of the Companys ferry operations and various other operations that are ancillary to its properties in Macao) to reconcile to the condensed consolidated results of operations and financial condition. The Company has included Corporate and Other (which includes the Las Vegas Condo Tower and corporate activities of the Company) to reconcile to the condensed consolidated financial condition. The Companys segment information as of September 30, 2020 and December 31, 2019, and for the three and nine months ended September 30, 2020 and 2019 is as follows: Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Three Months Ended September 30, 2020 Macao: The Venetian Macao $ 32 $ 3 $ 2 $ 28 $ 3 $ 68 Sands Cotai Central 5 2 3 9 3 22 The Parisian Macao 26 4 3 6 1 40 The Plaza Macao and Four Seasons Hotel Macao 10 1  13 1 25 Sands Macao 11  1   12 Ferry Operations and Other     4 4 84 10 9 56 12 171 Marina Bay Sands 197 25 22 28 9 281 Las Vegas Operating Properties 59 41 23  29 152 Intercompany eliminations (1)    (1) (17) (18) Total net revenues $ 340 $ 76 $ 54 $ 83 $ 33 $ 586 Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Three Months Ended September 30, 2019 Macao: The Venetian Macao $ 689 $ 58 $ 17 $ 65 $ 22 $ 851 Sands Cotai Central 359 81 24 19 4 487 The Parisian Macao 312 33 18 13 5 381 The Plaza Macao and Four Seasons Hotel Macao 146 10 7 32 1 196 Sands Macao 159 4 6  2 171 Ferry Operations and Other     26 26 1,665 186 72 129 60 2,112 Marina Bay Sands 553 109 61 46 24 793 Las Vegas Operating Properties 103 144 66  93 406 Intercompany eliminations (1)     (61) (61) Total net revenues $ 2,321 $ 439 $ 199 $ 175 $ 116 $ 3,250 Nine Months Ended September 30, 2020 Macao: The Venetian Macao $ 288 $ 25 $ 8 $ 75 $ 15 $ 411 Sands Cotai Central 129 29 12 25 7 202 The Parisian Macao 111 18 9 16 4 158 The Plaza Macao and Four Seasons Hotel Macao 101 6 4 39 1 151 Sands Macao 80 3 3 1 1 88 Ferry Operations and Other     22 22 709 81 36 156 50 1,032 Marina Bay Sands 643 100 65 73 35 916 Las Vegas Operating Properties 175 177 104  132 588 Intercompany eliminations (1)    (1) (69) (70) Total net revenues $ 1,527 $ 358 $ 205 $ 228 $ 148 $ 2,466 Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Nine Months Ended September 30, 2019 Macao: The Venetian Macao $ 2,127 $ 168 $ 56 $ 183 $ 68 $ 2,602 Sands Cotai Central 1,162 242 74 51 18 1,547 The Parisian Macao 1,042 97 53 40 17 1,249 The Plaza Macao and Four Seasons Hotel Macao 481 30 23 94 3 631 Sands Macao 439 13 20 2 4 478 Ferry Operations and Other     86 86 5,251 550 226 370 196 6,593 Marina Bay Sands 1,565 304 172 131 76 2,248 United States: Las Vegas Operating Properties 328 457 246  312 1,343 Sands Bethlehem (2) 199 7 11 1 9 227 527 464 257 1 321 1,570 Intercompany eliminations (1)    (1) (180) (181) Total net revenues $ 7,343 $ 1,318 $ 655 $ 501 $ 413 $ 10,230 ____________________ (1) Intercompany eliminations include royalties and other intercompany services. (2) The Company completed the sale of Sands Bethlehem on May 31, 2019. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In millions) Intersegment Revenues Macao: The Venetian Macao $ 1 $ 1 $ 3 $ 3 Ferry Operations and Other 4 7 16 20 5 8 19 23 Marina Bay Sands 1 1 4 3 Las Vegas Operating Properties (1) 12 52 47 155 Total intersegment revenues $ 18 $ 61 $ 70 $ 181 ____________________ (1) Primarily consists of royalties from the Companys international operations. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (In millions) Adjusted Property EBITDA Macao: The Venetian Macao $ (78) $ 342 $ (126) $ 1,039 Sands Cotai Central (71) 169 (150) 546 The Parisian Macao (40) 120 (124) 422 The Plaza Macao and Four Seasons Hotel Macao (15) 75 (5) 243 Sands Macao (26) 52 (58) 135 Ferry Operations and Other (3) (3) (15) (7) (233) 755 (478) 2,378 Marina Bay Sands 70 435 239 1,204 United States: Las Vegas Operating Properties (40) 93 (74) 367 Sands Bethlehem (1)    52 (40) 93 (74) 419 Consolidated adjusted property EBITDA (2) (203) 1,283 (313) 4,001 Other Operating Costs and Expenses Stock-based compensation (3) (2) (3) (11) (10) Corporate (33) (59) (145) (262) Pre-opening (5) (9) (14) (23) Development (3) (4) (18) (13) Depreciation and amortization (292) (284) (867) (874) Amortization of leasehold interests in land (14) (14) (41) (37) Loss on disposal or impairment of assets (58) (11) (68) (18) Operating income (loss) (610) 899 (1,477) 2,764 Other Non-Operating Costs and Expenses Interest income 3 20 20 57 Interest expense, net of amounts capitalized (137) (137) (386) (421) Other income (expense) (4) (7) 30 (8) Gain on sale of Sands Bethlehem    556 Loss on modification or early retirement of debt  (24)  (24) Income tax (expense) benefit 17 (82) 46 (403) Net income (loss) $ (731) $ 669 $ (1,767) $ 2,521 ____________________ (1) The Company completed the sale of Sands Bethlehem on May 31, 2019. (2) Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income/loss before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain on sale of Sands Bethlehem, gain or loss on modification or early retirement of debt and income taxes. Consolidated adjusted property EBITDA is a supplemental non-GAAP financial measure used by management, as well as industry analysts, to evaluate operations and operating performance. In particular, management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands Corp., have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The Company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by the Company may not be directly comparable to similarly titled measures presented by other companies. (3) During the three months ended September 30, 2020 and 2019, the Company recorded stock-based compensation expense of $6 million and $8 million, respectively, of which $4 million and $5 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations. During the nine months ended September 30, 2020 and 2019, the Company recorded stock-based compensation expense of $20 million and $26 million, respectively, of which $9 million and $16 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations. Nine Months Ended September 30, 2020 2019 (In millions) Capital Expenditures Corporate and Other $ 4 $ 57 Macao: The Venetian Macao 103 75 Sands Cotai Central 591 178 The Parisian Macao 9 21 The Plaza Macao and Four Seasons Hotel Macao 147 125 Sands Macao 6 10 Ferry Operations and Other 1 1 857 410 Marina Bay Sands 137 134 United States: Las Vegas Operating Properties 80 153 Sands Bethlehem (1)  2 80 155 Total capital expenditures $ 1,078 $ 756 ____________________ (1) The Company completed the sale of Sands Bethlehem on May 31, 2019. September 30, 2020 December 31, 2019 (In millions) Total Assets Corporate and Other $ 876 $ 1,390 Macao: The Venetian Macao 2,726 3,243 Sands Cotai Central 4,127 4,504 The Parisian Macao 2,188 2,351 The Plaza Macao and Four Seasons Hotel Macao 1,221 1,239 Sands Macao 262 324 Ferry Operations and Other 141 156 10,665 11,817 Marina Bay Sands 5,486 5,880 Las Vegas Operating Properties 3,955 4,112 Total assets $ 20,982 $ 23,199