MGM Resorts International (MGM) 8-K Other Events

Exhibit 99.2

MGM RESORTS INTERNATIONAL

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio data)

	Years Ended December 31,
	2017			2016			2015			2014			2013
	(In thousands)
Earnings:
Income (loss) from continuing operations before income taxes and (income) loss from unconsolidated affiliates	$	849,319		$	785,609		$	(1,221,266	)	$	435,761		$	202,550
Fixed charges (see below)		806,030			815,277			862,377			846,321			862,417
Distributed income from unconsolidated affiliates		13,050			16,905			29,333			15,568			17,038
Less: Preference security dividend requirements of consolidated subsidiaries (c)		(26,175	)		(546	)		—			—			—
Less: Capitalized interest		(111,110	)		(119,958	)		(64,798	)		(29,260	)		(5,070	)
Total earnings		1,531,114			1,497,287			(394,354	)		1,268,390			1,076,935
Fixed charges:
Interest expense, net (a)	$	668,745		$	694,773		$	797,579		$	817,061		$	857,347
Preference security dividend requirements of consolidated subsidiaries (c)		26,175			546			—			—			—
Capitalized interest		111,110			119,958			64,798			29,260			5,070
Total fixed charges		806,030			815,277			862,377			846,321			862,417
Ratio of earnings to fixed charges	1.90x			1.84x			(b)			1.50x			1.25x
Deficiency	$	—		$	—		$	1,256,731		$	—		$	—

(a) Interest expense does not include the interest factor of rental expense as these amounts are not material. 

(b) Earnings were inadequate to cover fixed charges.

(c) Preference security dividend is the amount of pretax earnings that is required to pay the dividends as well as the accretion of the carrying value of redeemable noncontrolling interest, both relating to the non-voting economic interests of MGM National Harbor.