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Summary Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Data

Unaudited summary quarterly financial data for the years ended December 31, 2017 and 2016 was as follows:

 

 

 

2017

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter (a)

 

 

Quarter (b)

 

 

Quarter (c)

 

 

Quarter

 

 

 

(Unaudited)

 

Total revenues

 

$

186,357

 

 

$

373,750

 

 

$

437,712

 

 

$

265,505

 

Operating (loss) income

 

$

(76,735

)

 

$

(222,564

)

 

$

108,822

 

 

$

(10,886

)

Net (loss) income

 

$

(61,129

)

 

$

(175,850

)

 

$

55,034

 

 

$

(20,441

)

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(0.72

)

 

$

(2.05

)

 

$

0.64

 

 

$

(0.24

)

Net (loss) income per share, diluted

 

$

(0.72

)

 

$

(2.05

)

 

$

0.64

 

 

$

(0.24

)

 

 

 

2016

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter(d)

 

 

Quarter

 

 

Quarter

 

 

Quarter(e)

 

 

 

(Unaudited)

 

Total revenues

 

$

220,241

 

 

$

371,136

 

 

$

485,318

 

 

$

267,597

 

Operating (loss) income

 

$

(119,567

)

 

$

38,050

 

 

$

152,641

 

 

$

(11,539

)

Net (loss) income

 

$

(84,049

)

 

$

17,768

 

 

$

65,655

 

 

$

(11,905

)

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(1.00

)

 

$

0.21

 

 

$

0.77

 

 

$

(0.14

)

Net (loss) income per share, diluted

 

$

(1.00

)

 

$

0.21

 

 

$

0.77

 

 

$

(0.14

)

 

(a)

During the first quarter of 2017, the Company recorded a loss on early extinguishment of debt and write-off of discounts and debt issuance costs of $8,020 related to the Amendment to its Existing Credit Agreement.  See Note 12–Long-Term Debt for further details.

(b)

During the second quarter of 2017, the Company recorded a non-cash goodwill impairment charge of $269,332 related to the full impairment of the Company’s SeaWorld Orlando reporting unit and equity compensation expense of approximately $8,400 related to certain of the Company’s performance-vesting restricted shares (the “2.75x Performance Restricted shares”) for which a portion vested on May 8, 2017 with the closing of the Sale.  See Note 9–Goodwill, Net and Note 19–Equity-Based Compensation for further details.

(c)

During the third quarter of 2017, the Company recorded $5,100 in restructuring and other related costs primarily related to severance costs and other termination benefits. See Note 4–Restructuring Programs and Separation Costs for further details.

(d)

During the first quarter of 2016, the Company recorded $27,516 in equity compensation expense related to certain of the Company’s performance-vesting restricted shares (the “2.25x Performance Restricted shares”) which became probable of vesting during the first quarter and vested on April 1, 2016.  See Note 19–Equity-Based Compensation for further details.

(e)

During the fourth quarter of 2016, the Company recorded $8,904 in restructuring and other related costs primarily related to severance costs and other employment expenses. See Note 4–Restructuring Programs and Separation Costs for further details.