Financial Reporting By Business Segments

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Financial Reporting By Business Segments

14. Financial Reporting By Business Segments

The Company’s continuing operations are organized into the following 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, as well as the Company’s investment in a joint venture associated with a Times Square restaurant and entertainment venue; and

• Corporate and Other, which includes the Company’s corporate expenses.

The following information (amounts in thousands) is derived directly from the segments’ internal financial reports used for corporate management purposes.

	2016			2015			2014
REVENUES:
Hospitality	$	1,039,643		$	994,603		$	954,166
Entertainment		109,564			97,521			86,825
Corporate and Other		—			—			—
Total revenues	$	1,149,207		$	1,092,124		$	1,040,991
DEPRECIATION AND AMORTIZATION:
Hospitality	$	100,186		$	105,876		$	103,422
Entertainment		7,034			5,747			5,258
Corporate and Other		2,596			2,760			3,598
Total depreciation and amortization	$	109,816		$	114,383		$	112,278
OPERATING INCOME (LOSS):
Hospitality	$	217,564		$	189,434		$	162,535
Entertainment		27,980			24,411			21,752
Corporate and Other		(31,739	)		(31,674	)		(31,171	)
Preopening costs		—			(909	)		(11	)
Impairment and other charges		—			(19,200	)		—
Total operating income		213,805			162,062			153,105
Interest expense, net of amounts capitalized		(63,906	)		(63,901	)		(61,447	)
Interest income		11,500			12,384			12,075
Loss on extinguishment of debt		—			—			(2,148	)
Loss from joint ventures		(2,794	)		—			—
Other gains and (losses)		4,161			(10,889	)		23,400
Income before income taxes	$	162,766		$	99,656		$	124,985

	December 31, 2016		December 31, 2015
IDENTIFIABLE ASSETS:
Hospitality	$	2,206,304	$	2,141,675
Entertainment		113,441		90,167
Corporate and Other		86,008		99,592
Total identifiable assets	$	2,405,753	$	2,331,434

The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):

	2016		2015		2014
CAPITAL EXPENDITURES:
Hospitality	$	96,372	$	65,651	$	46,440
Entertainment		20,940		13,477		4,760
Corporate and other		665		687		7,177
Total capital expenditures	$	117,977	$	79,815	$	58,377