Segment Information

3 Months Ended

Mar. 31, 2020

Consistent with how the Company’s Chief Operating Decision Maker (as such term is defined in ASC 280 - Segment Reporting) reviews and assesses the Company’s financial performance, the Company has two reportable segments, GLP Capital (a wholly-owned subsidiary of GLPI through which GLPI owns substantially all of its assets) and the TRS Properties. The GLP Capital reportable segment consists of the leased real property and represents the majority of the Company’s business. The TRS Properties reportable segment consists of Hollywood Casino Perryville and Hollywood Casino Baton Rouge.

The following tables present certain information with respect to the Company’s segments.


	Three Months Ended March 31, 2020										Three Months Ended March 31, 2019
(in thousands)	GLP Capital ⁽¹⁾		TRS Properties		Total		GLP Capital ⁽¹⁾		TRS Properties		Total
Total revenues	$	256,723	$	26,759	$	283,482	$	254,871	$	32,993	$	287,864
Income from operations	183,184		3,166		186,350		164,869		5,906		170,775
Interest expense	69,403		2,601		72,004		74,127		2,601		76,728
Income before income taxes	96,648		565		97,213		90,831		3,305		94,136
Income tax expense	127		192		319		68		1,058		1,126
Net income	96,521		373		96,894		90,763		2,247		93,010
Depreciation	54,776		1,787		56,563		56,175		2,403		58,578

Capital maintenance expenditures	88		558		646		2		528		530

(1) Interest expense is net of intercompany interest eliminations of $2.6 million for both the three months ended March 31, 2020 and 2019.