Financial Reporting By Business Segments

9 Months Ended

Sep. 30, 2016

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, the AC Hotel, and the Company’s investment in the Gaylord Rockies joint venture;

• Entertainment, which includes the Grand Ole Opry, the Ryman Auditorium, 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						Nine Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
Revenues:
Hospitality	$	241,019		$	224,842		$	747,539		$	707,131
Entertainment		30,701			27,978			81,893			72,873
Corporate and Other		—			—			—			—
Total	$	271,720		$	252,820		$	829,432		$	780,004
Depreciation and amortization:
Hospitality	$	24,401		$	26,383		$	75,051		$	79,175
Entertainment		1,637			1,434			4,845			4,199
Corporate and Other		668			681			1,992			2,093
Total	$	26,706		$	28,498		$	81,888		$	85,467
Operating income:
Hospitality	$	45,718		$	33,994		$	154,195		$	133,050
Entertainment		9,964			7,590			22,418			19,899
Corporate and Other		(9,115	)		(8,698	)		(24,307	)		(23,477	)
Preopening costs		—			(118	)		—			(909	)
Impairment and other charges		—			—			—			(2,890	)
Total operating income		46,567			32,768			152,306			125,673
Interest expense		(15,947	)		(16,138	)		(48,002	)		(47,765	)
Interest income		2,965			2,982			9,116			9,383
Loss from joint ventures		(638	)		—			(2,086	)		—
Other gains and (losses), net		2,468			2,467			2,288			(18,104	)
Income before income taxes	$	35,415		$	22,079		$	113,622		$	69,187