Business Segments And Geographic Area Information

12 Months Ended

Dec. 31, 2011

Business Segments And Geographic Area Information [Abstract]

Business Segments And Geographic Area Information

Note 22 – Business Segments and Geographic Area Information

     During 2010, we changed our reporting for intercompany property rent where our cinema operations were substantially the only tenant of such property by eliminating the intersegment revenue and expense relating to the intercompany rent, and transferring the third party lease costs from the real estate segment to the cinema exhibition segment. This change in management's structure of the reportable segments commenced on January 1, 2010, such changes to segment reporting are reflected in the segment results for 2010 and 2009, respectively. The retroactive presentation in 2009 segment results decreased intersegment revenue and expense for the intercompany rent by $4.4 million and transferred the third party lease costs from the real estate segment to the cinema exhibition segment. The overall results of these changes decreased real estate segment revenue and expense by $4.4 million for the year ended December 31, 2009. This change results in a reduction of real estate operating expense and an increase of cinema operating expense of $4.4 million on our Consolidated Statements of Operations for the year ended December 31, 2009.

     The table below sets forth certain information concerning our cinema operations and our real estate operations (which includes information relating to both our real estate development, retail rental and live theater rental activities) for the three years ended December 31, 2011 (dollars in thousands):

		Cinema		Real		Intersegment
Year Ended December 31, 2011		Exhibition		Estate		Eliminations			Total
Revenue	$	225,849	$	27,388	$	(7,432	)	$	245,805
Operating Expense		189,647		10,419		(7,432	)		192,634
Depreciation & amortization		11,842		4,809		-			16,651
Impairment expense		-		369		-			369
General & administrative expense		2,740		646		-			3,386
Segment operating income	$	21,620	$	11,145	$	-		$	32,765

		Cinema		Real		Intersegment
Year Ended December 31, 2010		Exhibition		Estate		Eliminations			Total
Revenue	$	211,073	$	25,512	$	(6,466	)	$	230,119
Operating expense		178,261		9,221		(6,466	)		181,016
Depreciation & amortization		10,559		4,640		-			15,199
Impairment expense		-		2,239		-			2,239
General & administrative expense		2,880		1,220		-			4,100
Segment operating income	$	19,373	$	8,192	$	-		$	27,565
		Cinema		Real		Intersegment
Year Ended December 31, 2009		Exhibition		Estate		Eliminations			Total
Revenue	$	201,388	$	20,867	$	(5,241	)	$	217,014
Operating expense		165,708		7,591		(5,241	)		168,058
Depreciation & amortization		10,816		3,686		-			14,502
Loss on transfer of real estate held for sale to
continuing operations		-		549		-			549
Impairment expense		-		3,217		-			3,217
Contractual commitment loss		-		1,092		-			1,092
General & administrative expense		2,645		1,063		-			3,708
Segment operating income	$	22,219	$	3,669	$	-		$	25,888

Reconciliation to net income attributable to Reading
International, Inc. shareholders:		2011			2010			2009
Total segment operating income	$	32,765		$	27,565		$	25,888
Non-segment:
Depreciation & amortization expense		309			715			666
General & administrative expense		14,046			13,684			13,851
Other operating income		-			-			(2,551	)
Operating income		18,410			13,166			13,922
Interest expense, net		(21,038	)		(12,286	)		(14,572	)
Other income (expense)		1,157			(347	)		(2,013	)
Gain (loss) on sale of assets		(67	)		352			(2	)
Income tax benefit (expense)		12,330			(14,264	)		(1,952	)
Equity earnings (loss) of unconsolidated joint ventures and
entities		(1,552	)		1,345			117
Income from discontinued operations		1,656			-			-
Gain on extinguishment of debt		-			-			10,714
Gain on sale of unconsolidated joint venture		-			-			268
Net income (loss)	$	10,896		$	(12,034	)	$	6,482
Net income attributable to noncontrolling interests		(940	)		(616	)		(388	)
Net income (loss) attributable to Reading International, Inc.
common shareholders	$	9,956		$	(12,650	)	$	6,094

Summary of assets:		2011		2010
Segment assets	$	414,608	$	406,569
Corporate assets		16,156		23,780
Total Assets	$	430,764	$	430,349

Summary of capital expenditures:		2011		2010		2009
Segment capital expenditures	$	8,419	$	18,942	$	5,584
Corporate capital expenditures		957		429		102
Total capital expenditures	$	9,376	$	19,371	$	5,686

     The cinema results shown above include revenue and operating expense directly linked to our cinema assets. The real estate results include rental income from our properties and live theaters and operating expense directly linked to our property assets.

     The following table sets forth the book value of our property and equipment by geographical area (dollars in thousands):

		December 31,
		2011		2010
Australia	$	117,911	$	121,403
New Zealand		33,322		33,809
United States		64,195		65,038
Total property and equipment	$	215,428	$	220,250

The following table sets forth our revenue by geographical area (dollars in thousands):

				December 31,
		2011		2010		2009
Australia	$	111,568	$	94,215	$	80,848
New Zealand		22,247		25,338		22,776
United States		111,990		110,566		113,390
Total revenue	$	245,805	$	230,119	$	217,014