Financial Reporting By Business Segments

3 Months Ended

Mar. 31, 2018

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 equity investment in Gaylord Rockies;

• 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 is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):

	Three Months Ended
	March 31,
	2018			2017
Revenues:
Hospitality	$	265,111		$	254,154
Entertainment		23,259			21,888
Corporate and Other		—			—
Total	$	288,370		$	276,042
Depreciation and amortization:
Hospitality	$	26,200		$	25,178
Entertainment		1,957			1,908
Corporate and Other		509			551
Total	$	28,666		$	27,637
Operating income:
Hospitality	$	54,993		$	52,022
Entertainment		1,936			3,129
Corporate and Other		(8,838	)		(7,960	)
Preopening costs		(2,147	)		(216	)
Total operating income		45,944			46,975
Interest expense		(16,729	)		(15,864	)
Interest income		2,753			2,948
Loss from joint ventures		(2,588	)		(774	)
Other gains and (losses), net		168			(72	)
Income before income taxes	$	29,548		$	33,213