Financial Reporting By Business Segments

12 Months Ended

Dec. 31, 2017

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 the Gaylord Hotels properties, 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, Ole Red, the Company’s equity investment in Opry City Stage, and the Company’s Nashville-based attractions; 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.

	2017			2016			2015
REVENUES:
Hospitality	$	1,059,660		$	1,039,643		$	994,603
Entertainment		125,059			109,564			97,521
Corporate and Other		—			—			—
Total revenues	$	1,184,719		$	1,149,207		$	1,092,124
DEPRECIATION AND AMORTIZATION:
Hospitality	$	102,759		$	100,186		$	105,876
Entertainment		7,074			7,034			5,747
Corporate and Other		2,126			2,596			2,760
Total depreciation and amortization	$	111,959		$	109,816		$	114,383
OPERATING INCOME (LOSS):
Hospitality	$	224,025		$	217,564		$	189,434
Entertainment		33,592			27,980			24,411
Corporate and Other		(35,621	)		(31,739	)		(31,674	)
Preopening costs		(1,926	)		—			(909	)
Impairment and other charges		(35,418	)		—			(19,200	)
Total operating income		184,652			213,805			162,062
Interest expense, net of amounts capitalized		(66,051	)		(63,906	)		(63,901	)
Interest income		11,818			11,500			12,384
Loss from joint ventures		(4,402	)		(2,794	)		—
Other gains and (losses)		928			4,161			(10,889	)
Income before income taxes	$	126,945		$	162,766		$	99,656
	December 31, 2017			December 31, 2016
IDENTIFIABLE ASSETS:
Hospitality	$	2,256,395		$	2,206,304
Entertainment		132,671			113,441
Corporate and Other		135,162			86,008
Total identifiable assets	$	2,524,228		$	2,405,753

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

	2017		2016		2015
CAPITAL EXPENDITURES:
Hospitality	$	163,227	$	96,372	$	65,651
Entertainment		18,814		20,940		13,477
Corporate and other		524		665		687
Total capital expenditures	$	182,565	$	117,977	$	79,815