FINANCIAL REPORTING BY BUSINESS SEGMENTS

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

FINANCIAL REPORTING BY BUSINESS SEGMENTS

14. FINANCIAL REPORTING BY BUSINESS SEGMENTS:

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

• Hospitality, which includes Gaylord Opryland, Gaylord Palms, Gaylord Texan, Gaylord National and the Inn 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
	March 31,
	2014			2013
Revenues:
Hospitality	$	232,203		$	209,581
Opry and Attractions		14,248			12,532
Corporate and Other		—			—
Total	$	246,451		$	222,113
Depreciation and amortization:
Hospitality	$	25,514		$	26,801
Opry and Attractions		1,425			1,366
Corporate and Other		1,064			3,842
Total	$	28,003		$	32,009
Operating income (loss):
Hospitality	$	40,016		$	23,408
Opry and Attractions		552			(120	)
Corporate and Other		(7,771	)		(10,508	)
REIT conversion costs		—			(14,992	)
Casualty loss		—			(32	)
Total operating income (loss)		32,797			(2,244	)
Interest expense		(15,670	)		(13,323	)
Interest income		3,031			3,051
Other gains and (losses), net		—			(6	)
Income (loss) before income taxes and discontinued operations	$	20,158		$	(12,522	)