Financial Reporting By Business Segments

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Financial Reporting By Business Segments

14. FINANCIAL REPORTING BY BUSINESS SEGMENTS:

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

• Hospitality, which includes Gaylord Opryland, Gaylord Palms, Gaylord Texan, Gaylord National, the Inn at Opryland and the AC Hotel;

• Entertainment, previously referred to as 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 is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
Revenues:
Hospitality	$	224,842		$	219,102		$	707,131		$	684,235
Entertainment (previously Opry and Attractions)		27,978			25,913			72,873			65,144
Corporate and Other		—			—			—			—
Total	$	252,820		$	245,015		$	780,004		$	749,379
Depreciation and amortization:
Hospitality	$	26,383		$	25,886		$	79,175		$	77,403
Entertainment (previously Opry and Attractions)		1,434			1,327			4,199			3,983
Corporate and Other		681			820			2,093			2,882
Total	$	28,498		$	28,033		$	85,467		$	84,268
Operating income (loss):
Hospitality	$	33,994		$	28,826		$	133,050		$	115,033
Entertainment (previously Opry and Attractions)		7,590			8,029			19,899			16,922
Corporate and Other		(8,698	)		(7,772	)		(23,477	)		(22,589	)
Preopening costs		(118	)		—			(909	)		—
Impairment and other charges		—			—			(2,890	)		—
Total operating income		32,768			29,083			125,673			109,366
Interest expense		(16,138	)		(17,135	)		(47,765	)		(48,277	)
Interest income		2,982			3,001			9,383			9,070
Loss on extinguishment of debt		—			—			—			(2,148	)
Other gains and (losses), net		2,467			(282	)		(18,104	)		(4,608	)
Income before income taxes	$	22,079		$	14,667		$	69,187		$	63,403