Financial Reporting by Business Segments

6 Months Ended

Jun. 30, 2011

Financial Reporting by Business Segments [Abstract]

FINANCIAL REPORTING BY BUSINESS SEGMENTS

16. FINANCIAL REPORTING BY BUSINESS SEGMENTS:

The Company’s continuing operations are organized into three principal business segments:

• Hospitality, which includes the Gaylord Opryland Resort and Convention Center, the Gaylord Palms Resort and Convention Center, the Gaylord Texan Resort and Convention Center, the Gaylord National Resort and Convention Center and the Radisson Hotel at Opryland, as well as the Company’s interest in a joint venture;

• Opry and Attractions, which includes the Grand Ole Opry, WSM-AM, and the Company’s Nashville-based attractions; and

• Corporate and Other, which includes the Company’s corporate expenses.

The following information from continuing operations is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Revenues:
Hospitality	$	218,173		$	172,920		$	427,515		$	376,615
Opry and Attractions		18,569			10,930			29,936			21,691
Corporate and Other		33			29			62			54
Total	$	236,775		$	183,879		$	457,513		$	398,360
Depreciation and amortization:
Hospitality	$	25,291		$	22,443		$	50,566		$	45,662
Opry and Attractions		1,340			1,058			2,672			2,420
Corporate and Other		2,640			2,450			5,090			4,940
Total	$	29,271		$	25,951		$	58,328		$	53,022
Operating income (loss):
Hospitality	$	41,713		$	30,009		$	71,167		$	60,255
Opry and Attractions		3,866			1,018			3,223			254
Corporate and Other		(13,869	)		(14,133	)		(27,955	)		(28,662	)
Casualty loss		(469	)		(31,347	)		(468	)		(31,347	)
Preopening costs		(41	)		(6,240	)		(41	)		(6,240	)
Total operating income (loss)		31,200			(20,693	)		45,926			(5,740	)
Interest expense, net of amounts capitalized		(21,377	)		(20,480	)		(42,186	)		(40,595	)
Interest income		3,316			3,286			6,489			6,508
Income from unconsolidated companies		152			190			325			117
Net gain on extinguishment of debt		—			100			—			1,299
Other gains and (losses), net		141			(147	)		(50	)		(160	)
Income (loss) before income taxes and discontinued operations	$	13,432		$	(37,744	)	$	10,504		$	(38,571	)