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Financial Reporting By Business Segments
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Financial Reporting By Business Segments

15. 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 other attractions and media and entertainment businesses, 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 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,  
     2017      2016      2017      2016  

Revenues:

            

Hospitality

    $ 229,590      $ 241,019      $ 747,117      $ 747,539  

Entertainment

      35,134        30,701        92,427        81,893  

Corporate and Other

      —          —          —          —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 264,724      $ 271,720      $ 839,544      $ 829,432  
  

 

 

     

 

 

     

 

 

     

 

 

  

Depreciation and amortization:

            

Hospitality

    $ 26,061      $ 24,401      $ 76,786      $ 75,051  

Entertainment

      1,965        1,637        5,465        4,845  

Corporate and Other

      520        668        1,611        1,992  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 28,546      $ 26,706      $ 83,862      $ 81,888  
  

 

 

     

 

 

     

 

 

     

 

 

  

Operating income:

            

Hospitality

    $ 36,478      $ 45,718      $ 150,281      $ 154,195  

Entertainment

      10,548        9,964        25,403        22,418  

Corporate and Other

      (9,740 )       (9,115 )       (25,935 )       (24,307 ) 

Preopening costs

      (877 )       —          (1,587 )       —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Total operating income

      36,409        46,567        148,162        152,306  

Interest expense

      (16,621 )       (15,947 )       (49,640 )       (48,002 ) 

Interest income

      2,957        2,965        8,874        9,116  

Loss from joint ventures

      (899 )       (638 )       (2,616 )       (2,086 ) 

Other gains and (losses), net

      2,554        2,468        1,024        2,288  
  

 

 

     

 

 

     

 

 

     

 

 

  

Income before income taxes

    $ 24,400      $ 35,415      $ 105,804      $ 113,622