Financial Reporting by Business Segments

6 Months Ended

Jun. 30, 2012

Financial Reporting by Business Segments [Abstract]

FINANCIAL REPORTING BY BUSINESS SEGMENTS

13. 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;

• 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,
	2012			2011			2012			2011
Revenues:
Hospitality	$	233,047		$	218,173		$	459,095		$	427,515
Opry and Attractions		20,153			18,569			32,988			29,936
Corporate and Other		29			33			61			62
Total	$	253,229		$	236,775		$	492,144		$	457,513
Depreciation and amortization:
Hospitality	$	26,346		$	25,291		$	54,882		$	50,566
Opry and Attractions		1,278			1,340			2,563			2,672
Corporate and Other		2,630			2,640			5,243			5,090
Total	$	30,254		$	29,271		$	62,688		$	58,328
Operating income (loss):
Hospitality	$	46,423		$	41,713		$	86,459		$	71,167
Opry and Attractions		4,800			3,866			5,593			3,223
Corporate and Other		(19,235	)		(13,869	)		(37,875	)		(27,955	)
Casualty loss		(372	)		(469	)		(546	)		(468	)
Preopening costs		(8	)		(41	)		(339	)		(41	)
Total operating income		31,608			31,200			53,292			45,926
Interest expense, net of amounts capitalized		(14,451	)		(21,377	)		(28,813	)		(42,186	)
Interest income		3,021			3,316			6,175			6,489
Income from unconsolidated companies		109			152			109			325
Other gains and (losses), net		—			141			—			(50	)
Income before income taxes and discontinued operations	$	20,287		$	13,432		$	30,763		$	10,504