Financial Reporting By Business Segments

6 Months Ended

Jun. 30, 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, 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						Six Months Ended
	June 30,						June 30,
	2018			2017			2018			2017
Revenues:
Hospitality	$	291,756		$	263,373		$	556,867		$	517,527
Entertainment		42,178			35,405			65,437			57,293
Corporate and Other		—			—			—			—
Total	$	333,934		$	298,778		$	622,304		$	574,820
Depreciation and amortization:
Hospitality	$	27,233		$	25,547		$	53,433		$	50,725
Entertainment		2,315			1,592			4,272			3,500
Corporate and Other		447			540			956			1,091
Total	$	29,995		$	27,679		$	58,661		$	55,316
Operating income:
Hospitality	$	76,702		$	61,468		$	131,695		$	113,490
Entertainment		9,609			11,678			11,545			14,807
Corporate and Other		(8,087	)		(8,008	)		(16,925	)		(15,968	)
Preopening costs		(1,525	)		(494	)		(3,672	)		(710	)
Total operating income		76,699			64,644			122,643			111,619
Interest expense		(19,625	)		(17,155	)		(36,354	)		(33,019	)
Interest income		2,766			2,969			5,519			5,917
Income (loss) from joint ventures		1,346			(943	)		(1,242	)		(1,717	)
Other gains and (losses), net		36			(1,324	)		204			(1,396	)
Income before income taxes	$	61,222		$	48,191		$	90,770		$	81,404