Financial Reporting by Business Segments

9 Months Ended

Sep. 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						Nine Months Ended
	September 30,						September 30,
	2011			2010			2011			2010
Revenues:
Hospitality	$	207,092		$	147,234		$	634,607		$	523,849
Opry and Attractions		18,108			11,011			48,044			32,702
Corporate and Other		32			27			94			81
Total	$	225,232		$	158,272		$	682,745		$	556,632
Depreciation and amortization:
Hospitality	$	28,388		$	21,866		$	78,954		$	67,528
Opry and Attractions		1,296			1,019			3,968			3,439
Corporate and Other		2,683			2,369			7,773			7,309
Total	$	32,367		$	25,254		$	90,695		$	78,276
Operating income (loss):
Hospitality	$	25,437		$	16,092		$	96,604		$	76,347
Opry and Attractions		3,498			92			6,721			346
Corporate and Other		(14,591	)		(17,312	)		(42,546	)		(45,974	)
Casualty loss		(162	)		(6,014	)		(630	)		(37,361	)
Preopening costs		(345	)		(25,474	)		(386	)		(31,714	)
Total operating income (loss)		13,837			(32,616	)		59,763			(38,356	)
Interest expense, net of amounts capitalized		(18,075	)		(20,334	)		(60,261	)		(60,929	)
Interest income		3,199			3,344			9,688			9,852
Income from unconsolidated companies		761			—			1,086			117
Net gain on extinguishment of debt		—			—			—			1,299
Other gains and (losses), net		(444	)		377			(494	)		217
Income (loss) before income taxes and discontinued operations	$	(722	)	$	(49,229	)	$	9,782		$	(87,800	)