10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

__________________________________

FORM 10-Q

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended:  September 30, 2017

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___________ to ___________

Commission file number 1-8625

READING INTERNATIONAL, INC.

(Exact name of Registrant as specified in its charter)

NEVADA (State or other jurisdiction of incorporation or organization)	95-3885184 (IRS Employer Identification No.)
5995Sepulveda Boulevard, Suite 300 Culver City,  CA (Address of principal executive offices)	90230 (Zip Code)

Registrant’s telephone number, including area code: (213) 235-2240

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes  ☑  No  ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.  See definitions of “large accelerated filer”,“accelerated filer”,  “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. 

(Check one):  Large accelerated filer ☐  Accelerated filer ☑  Non-accelerated filer ☐Smaller reporting company☐

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  ☐  No  ☑

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.  As of November 6, 2017, therewere 21,184,863 shares of Class A Nonvoting Common Stock, $0.01 par value per share and 1,680,590 shares of Class B Voting Common Stock, $0.01 par value per share outstanding.

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READING INTERNATIONAL, INC. AND SUBSIDIARIES

TABLE OF CONTENTS

	Page
PART I - Financial Information	3
Item 1 – Financial Statements	3
Consolidated Balance Sheets (Unaudited)	3
Consolidated Statements of Income (Unaudited)	4
Consolidated Statements of Comprehensive Income (Unaudited)	5
Consolidated Statements of Cash Flows (Unaudited)	6
Notes to Consolidated Financial Statements (Unaudited)	7
Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations	24
Item 3 – Quantitative and Qualitative Disclosure about Market Risk	40
Item 4 – Controls and Procedures	41
PART II – Other Information	42
Item 1 - Legal Proceedings	42
Item 1A - Risk Factors	42
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds	43
Item 3 - Defaults Upon Senior Securities	43
Item 5 - Other Information	43
Item 6 - Exhibits	44
SIGNATURES	45
Certifications

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PART 1  –FINANCIAL INFORMATION

Item 1 - Financial Statements

READING INTERNATIONAL, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited; U.S. dollars in thousands, except share information)

	September 30,		December 31,
	2017		2016(1)
ASSETS
Current Assets:
Cash and cash equivalents	$	8,896	$	19,017
Receivables		36,191		8,772
Inventory		1,169		1,391
Prepaid and other current assets		4,329		5,787
Land held for sale		--		37,674
Total current assets		50,585		72,641
Operating property, net		225,631		211,886
Investment and development property, net		73,751		43,687
Investment in unconsolidated joint ventures		5,339		5,071
Goodwill		20,438		19,828
Intangible assets, net		8,909		10,037
Deferred tax asset, net		28,907		28,667
Other assets		4,501		13,949
Total assets	$	418,061	$	405,766
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable and accrued liabilities	$	21,030	$	26,479
Film rent payable		6,390		10,528
Debt – current portion		8,084		567
Taxes payable – current		2,163		3,523
Deferred current revenue		7,635		10,758
Other current liabilities		11,660		14,131
Total current liabilities		56,962		65,986
Debt – long-term portion		111,939		115,707
Subordinated debt, net		27,501		27,340
Noncurrent tax liabilities		20,808		19,953
Other liabilities		26,056		30,165
Total liabilities		243,266		259,151
Commitments and contingencies (Note 13)
Stockholders’ equity:
Class A non-voting common stock, par value $0.01,  100,000,000 shares authorized,
32,946,569 issued and 21,184,863 outstanding at September 30, 2017, and 32,856,267 issued and 21,497,717 outstanding at December 31, 2016		231		230
Class B voting common stock, par value $0.01,  20,000,000 shares authorized and
1,680,590issued and outstanding at September 30, 2017 and December 31, 2016		17		17
Nonvoting preferred stock, par value $0.01,  12,000 shares authorized and no issued
or outstanding shares at September 30, 2017 and December 31, 2016		--		--
Additional paid-in capital		145,504		144,569
Retained earnings		25,298		1,680
Treasury shares		(22,849)		(16,374)
Accumulated other comprehensive income		22,399		12,075
Total Reading International, Inc. stockholders’ equity		170,600		142,197
Noncontrolling interests		4,195		4,418
Total stockholders’ equity		174,795		146,615
Total liabilities and stockholders’ equity	$	418,061	$	405,766

See accompanying Notes to Unaudited Consolidated Financial Statements.

(1) Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 – Summary of Significant Accounting Policies – Reclassifications).

3

READING INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited; U.S. dollars in thousands, except per share data)

	Quarter Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
		2017		2016(1)		2017		2016(1)
Revenue
Cinema	$	62,059	$	67,825	$	196,062	$	192,579
Real estate		4,028		3,490		11,892		10,443
Total revenue		66,087		71,315		207,954		203,022
Costs and expenses
Cinema		(49,591)		(52,103)		(153,512)		(148,864)
Real estate		(2,881)		(2,296)		(7,258)		(6,628)
Depreciation and amortization		(4,137)		(4,131)		(12,124)		(11,766)
General and administrative		(5,840)		(6,175)		(18,131)		(18,372)
Total costs and expenses		(62,449)		(64,705)		(191,025)		(185,630)
Operating income		3,638		6,610		16,929		17,392
Interest expense, net		(1,663)		(1,553)		(5,310)		(5,190)
Gain on sale of assets		--		--		9,417		393
Gain on insurance recoveries		--		--		9,217		--
Other income (expense)		89		(12)		937		(115)
Income before income tax expense and equity earnings of unconsolidated joint ventures		2,064		5,045		31,190		12,480
Equity earnings of unconsolidated joint ventures		136		200		654		808
Income before income taxes		2,200		5,245		31,844		13,288
Income tax expense		(742)		(1,328)		(8,291)		(4,222)
Net income	$	1,458	$	3,917	$	23,553	$	9,066
Less: net income (loss) attributable to noncontrolling interests		(98)		62		(66)		12
Net income attributable to Reading International, Inc. common shareholders	$	1,556	$	3,855	$	23,619	$	9,054
Basic earnings per share attributable to Reading International, Inc. shareholders	$	0.07	$	0.17	$	1.02	$	0.39
Diluted earnings  per share attributable to Reading International, Inc. shareholders	$	0.07	$	0.16	$	1.01	$	0.38
Weighted average number of shares outstanding–basic		22,968,017		23,334,892		23,101,619		23,334,892
Weighted average number of shares outstanding–diluted		23,212,632		23,532,796		23,346,234		23,532,796

See accompanying Notes to Unaudited Consolidated Financial Statements.

(1) Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 – Summary of Significant Accounting Policies – Reclassifications).

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READING INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited; U.S. dollars in thousands)

		Quarter Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
		2017		2016(1)		2017		2016(1)
Net income	$	1,458	$	3,917	$	23,553	$	9,066
Foreign currency translation gain		1,791		5,042		10,192		9,310
Others		51		54		151		118
Comprehensive income		3,300		9,013		33,896		18,494
Less: net income (loss) attributable to noncontrolling interests		(98)		62		(66)		12
Less: comprehensive income (loss) attributable to noncontrolling interests		33		8		20		14
Comprehensive income attributable to Reading International, Inc.	$	3,365	$	8,943	$	33,942	$	18,468

See accompanying Notes to Unaudited Consolidated Financial Statements.

(1) Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 – Summary of Significant Accounting Policies – Reclassifications)

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READING INTERNATIONAL, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited; U.S. dollars in thousands)

		Nine Months Ended
		September 30,		September 30,
		2017		2016(1)
Operating Activities
Net income	$	23,553	$	9,066
Adjustments to reconcile net income to net cash provided by operating activities:
Equity earnings of unconsolidated joint ventures		(654)		(808)
Distributions of earnings from unconsolidated joint ventures		636		779
Gain recognized on foreign currency transactions		(910)		--
Gain on sale of assets		(9,417)		(393)
Gain on insurance recoveries		(9,217)		--
Change in net deferred tax assets		127		(3,782)
Depreciation and amortization		12,124		11,766
Other amortization		1,840		1,409
Stock based compensation expense		730		449
Net changes in operating assets and liabilities:
Receivables		1,593		2,092
Prepaid and other assets		1,745		(738)
Accounts payable and accrued expenses		(5,701)		(2,783)
Film rent payable		(4,347)		(3,089)
Taxes payable		(1,695)		2,142
Deferred revenue and other liabilities		(1,652)		(1,594)
Net cash provided by operating activities		8,755		14,516
Investing Activities
Demolition costs of operating property		(3,510)		--
Insurance recoveries relating to property damage and demolition costs		18,415		--
Purchases of and additions to operating and investment properties		(44,531)		(35,682)
Change in restricted cash		36		(848)
Distributions of investment in unconsolidated joint ventures		125		190
Disposal of investment in unconsolidated joint ventures		(337)		--
Proceeds from sale of assets		16,606		831
Net cash used in investing activities		(13,196)		(35,509)
Financing Activities
Repayment of long-term borrowings		(46,629)		(40,802)
Proceeds from borrowings		47,706		52,396
Capitalized borrowing costs		--		(785)
Repurchase of Class A Nonvoting Common Stock		(6,475)		--
Proceeds from the exercise of stock options		207		--
Noncontrolling interest contributions		63		268
Noncontrolling interest distributions		(240)		(194)
Net cash (used in)/provided by financing activities		(5,368)		10,883
Effect of exchange rate changes on cash and cash equivalents		(312)		388
Net decrease in cash and cash equivalents		(10,121)		(9,722)
Cash and cash equivalents at January 1		19,017		19,702
Cash and cash equivalents at September 30	$	8,896	$	9,980
Supplemental Disclosures
Interest paid	$	4,489	$	3,053
Income taxes paid		7,371		5,288

See accompanying Notes to Unaudited Consolidated Financial Statements.

(1) Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 – Summary of Significant Accounting Policies – Reclassifications).

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READING INTERNATIONAL, INC.

NOTES TOCONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

Note 1 – Description of Business and Segment Reporting

The Company

Reading International, Inc., a Nevada corporation (“RDI” and collectively with our consolidated subsidiaries and corporate predecessors, the “Company,” “Reading” and “we,” “us,” or “our”), was incorporated in 1999.  Our businesses consist primarily of:

· the development, ownership, and operation of multiplex cinemas in the United States, Australia, and New Zealand; and,

· the development, ownership, and operation of retail and commercial real estate in Australia, New Zealand, and the United States.

Business Segments

Reported below are the operating segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer, the chief operating decision-maker of the Company.  As part of our real estate activities, we hold undeveloped land in urban and suburban centers in New Zealand and the United States.

The table below summarizes the results of operations for each of our business segments for the quarterand nine months ended September 30, 2017 and 2016, respectively.  Operating expense includes costs associated with the day-to-day operations of the cinemas and the management of rental properties, including our live theater assets.

	Quarter Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Revenue:
Cinema exhibition	$	62,059	$	67,825	$	196,062	$	192,579
Real estate		6,036		5,390		17,467		15,961
Inter-segment elimination		(2,008)		(1,900)		(5,575)		(5,518)
	$	66,087	$	71,315	$	207,954	$	203,022
Segment operating income:
Cinema exhibition	$	6,703	$	9,726	$	25,581	$	26,536
Real estate		1,549		1,755		5,600		5,844
	$	8,252	$	11,481	$	31,181	$	32,380

A reconciliation of segment operating income to income before income taxes is as follows:

	Quarter Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Segment operating income	$	8,252	$	11,481	$	31,181	$	32,380
Unallocated corporate expense
Depreciation and amortization expense		(108)		(102)		(321)		(295)
General and administrative expense		(4,506)		(4,769)		(13,931)		(14,693)
Interest expense, net		(1,663)		(1,553)		(5,310)		(5,190)
Equity earnings of unconsolidated joint ventures		136		200		654		808
Gain on sale of assets		--		--		9,417		393
Gain on insurance recoveries		--		--		9,217		--
Other income (expense)		89		(12)		937		(115)
Income before income tax expense	$	2,200	$	5,245	$	31,844	$	13,288

Note 2 – Summary of Significant Accounting Policies

Basis of Consolidation

The accompanying consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries as well as majority-owned subsidiaries that the Company controls, and should be read in conjunction with the Company’s Annual Report on Form 10-K as of and for the year-ended December 31, 2016 (“2016 Form 10-K”).  All significant intercompany balances and transactions have been eliminated on consolidation.  These consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”).  As such, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. We believe that we have included all normal and recurring adjustments necessary for a fair presentation of the results for the interim period. Operating results for the quarter and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

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Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and footnotes thereto. Significant estimates include (i) projections we make regarding the recoverability and impairment of our assets (including goodwill and intangibles),  (ii) valuations of our derivative instruments, (iii) recoverability of our deferred tax assets, (iv) estimation of gift card and gift certificate breakage which we concluded to have remote likelihood of redemption, and (v) allocation of insurance proceeds to various recoverable components. Actual results may differ from those estimates.

Reclassifications

Certain reclassifications have been made in the 2016 comparative information in our consolidated financial statements and accompanying notes to conform to the 2017 presentation.  These reclassifications relate to the following items, for which we assessed to be allowable under Regulation S-X, Rule 10.01 due to immaterial balances:

(i) reclassification of Investment in Reading International Trust I as part of “Other assets” line in our consolidated balance sheets;

(ii) net-off of interest income against interest expense in our consolidated statements of income;

(iii) combination of certain components in our consolidated statements of comprehensive income into one line, called “Others”; and,

(iv) combination of certain amortization items in our consolidated statement of cash flows (under Operating Activities section) into a singular line, called “Other amortization”.

Recently Adopted and Issued Accounting Pronouncements

Adopted:

On January 1, 2017, the Company adopted ASU 2016-09,  Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.  This new guidance, which became effective for fiscal years beginning after December 15, 2016, provides for thesimplification ofseveral aspects of the accounting for share-based payment transactions, including (i) accounting for tax benefits in excess of compensation cost and tax deficiencies, (ii) accounting for forfeitures, and (iii) classification on the statement of cash flows. The only significant impact of the adoption of this new guidance to us is the immediate recognition of excess tax benefits (or “windfalls”) and tax deficiencies (or “shortfalls”) in the consolidated statement of income.  Previously, (i) tax windfalls were recorded in additional paid-in capital (“APIC”) in the consolidated statement of stockholders’ equity and (ii) tax shortfalls were recorded in APIC to the extent of previous windfalls and then to the consolidated statement of income. 

Issued:

In March 2017, the FASB issued ASU 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.  The amendments in this Update (i) require that an employer disaggregate the service cost component from the other components of net benefit cost, and (ii) provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allow only the service cost component of net benefit cost to be eligible for capitalization.  The new guidance is effective for the Company on January 1, 2018.  Early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance.  We do not anticipate the adoption of ASU 2017-07 to have a material impact on our consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.  This new guidance removesthe second step of the two-step impairment test for measuring goodwill and is to be applied on a prospective basis only. The new guidance is effective for the Company on January 1, 2020, including interim periods within the year of adoption.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We do not anticipate the adoption of ASU 2017-04 to have a material impact on our consolidated financial statements.

Also, in January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.  This ASU provides that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the asset  is not a “business”,thus reducing the number of transactions that need further evaluation for business combination.   This becomes effective for the Company on January 1, 2018.   We do not expectthe ASU 2017-01 to be applicabletoour consolidated financial statements in the near term unlesswe enter into a definitive business acquisition transaction.

Further, in January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments—Equity Method and Joint Ventures (Topic 323): Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 and November 17, 2016 EITF Meetings.  This ASU requires issuers to disclose the effect that recently issued accounting standards will have on their financial statements when adopted in a future period.   In accordance with this disclosure requirement, we provide below our initial analysis of the impact of the following recently issued standards (including any amendments prior to

8

adoption) that are effective in future periods:

1. ASU 2014-09, Revenue from Contracts with Customers (Topic 606) – FASB issued this new guidance, which becomes effective forus beginning January 1, 2018, to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. GAAP.  We do not currently believe the proposed guidance will have a material impact to our cinema exhibition business.  We are in the process of completing an analysis to ensure full compliance prior to the effective date.  In regards to ASUs subsequently issued that amend or are related to ASU 2014-09, we disclose our initial analysis as follows:

· ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products (Subtopic 405-20) – FASB issued this new guidance on extinguishment of liabilities, which becomes effective to us beginning January 1, 2018, related to prepaid stored-value products (such as our gift cards and gift certificates) based on the same breakage model required by Topic 606, Revenue from Contracts with Customers.  Accordingly, issuers will be required to recognize the expected breakage amount (i.e., derecognize the liability) either (1) proportionally in earnings as redemptions occur, or (2) when redemption is remote. While this guidance is not applicable until 2018, we have effectively applied this through our recording of the gift card breakage income as a change in accounting policy as reported in our 2016 Form 10-K with retrospective application to January 1, 2014. As a result, wedo not anticipate that the adoption of ASU 2016-04 willhave a material impact on the Company’s consolidated financial statements and related disclosures.

· ASU 2016-08, Principal vs Agent Considerations (Reporting Revenue Gross versus Net) (Topic 606) – FASB issued this amendment to the principal versus agent guidance in the new revenue standard to clarify that the analysis must focus on whether the entity has control of the goods or services before they are transferred to the customer.  We do not anticipate that the adoption of ASU 2016-08 will have a material impact on our consolidated financial statements and related disclosures.

2. ASU 2016-02, Leases (Topic 842)– Thisnew guidance, which becomes effective forus by January 1, 2019, establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months.  Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.  A modified retrospective transition approach is required for lessees with capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available.  While we are still evaluating the impact of our pending adoption of this new standard on our consolidated financial statements, we expect that upon adoption we will recognize ROU assets and lease liabilities and that the amounts could be material since a majority of our operating cinemas are on a  leased-facility model.  We have developed an implementation plan.Significant implementation matters that we are addressing include(i) assessment of lease population, (ii) determination of appropriate discount rate to use and (ii) assessment of renewal options to include in the initial lease term.

Note 3 – Operations in Foreign Currency

We have significant assets in Australia and New Zealand. To the extent possible, we conduct our Australian and New Zealand operations (collectively “foreign operations”) on a self-funding basis where we use cash flows generated by our foreign operations to pay for the expense of foreign operations.  Our Australian and New Zealand assets and liabilities are translated from their functional currencies of Australian dollar (“AU$”) and New Zealand dollar (“NZ$”), respectively, to the U.S. dollar based on the exchange rate as of September 30, 2017. The carrying value of the assets and liabilities of our foreign operations fluctuates as a result of changes in the exchange rates between the functional currencies of the foreign operations and the U.S. dollar. The translation adjustments are accumulated in the Accumulated Other Comprehensive Income in the Consolidated Balance Sheets.

As indicated previously,our overall operating strategy is to conduct business mostly on a self-funding basis (except for funds used to pay an appropriate share of our U.S. corporate overhead).  As such, we do not use derivative financial instruments to hedge against the risk of foreign currency exposure. However, in certain circumstances, we may decide to move funds between jurisdictions where circumstances encouraged us to do so from an overall economic standpoint. As of December 31, 2016, we determined certain intercompany advances from the U.S. Parent Company to our Australian subsidiaryshould be considered short-term.

Subsequently, on September 1, 2017, we determined that the remaining AU$21.1 million in long-term intercompany loans should be considered as short-term as well.   Such assessment was made on the basis of global funding opportunities,which were not present as of December 31, 2016.

As a result, we recognized foreign exchange gainon these intercompany advances based on the relative strengthening of the Australian dollar to the U.S. dollar in the amounts of $910,000for the nine months ended September 30, 2017in our Consolidated Statements of Income.

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Presented in the table below are the currency exchange rates for Australia and New Zealand:

	Foreign Currency / USD
	September 30, 2017		December 31, 2016	September 30, 2016
	As of and for the quarter ended	As of and for the nine months ended	As of and for the twelve months ended	As of and for the quarter ended	As of and for the nine months ended
Spot Rate
Australian Dollar	0.7840		0.7230	0.7667
New Zealand Dollar	0.7225		0.6958	0.7290
Average Rate
Australian Dollar	0.7899	0.7664	0.7440	0.7583	0.7420
New Zealand Dollar	0.7307	0.7159	0.6973	0.7226	0.6926

Note 4 – Earnings Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common sharesoutstanding during the period.  Diluted EPS is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common and common equivalent shares outstanding during the period and are calculated using the treasury stock method for equity-based compensation awards. 

The following table sets forth the computation of basic and diluted EPS and a reconciliation of the weighted average number of common and common equivalent shares outstanding:

	Quarter Ended				Nine Months Ended
(Dollars in thousands, except share data)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Numerator:
Net income attributable to RDI common stockholders	$	1,556	$	3,855	$	23,619	$	9,054
Denominator:
Weighted average number of common stock – basic	22,968,017		23,334,892		23,101,619		23,334,892
Weighted average dilutive impact of awards	244,615		197,904		244,615		197,904
Weighted average number of common stock – diluted	23,212,632		23,532,796		23,346,234		23,532,796
Basic EPS attributable to RDI common stockholders	$	0.07	$	0.17	$	1.02	$	0.39
Diluted EPS attributable to RDI common stockholders	$	0.07	$	0.16	$	1.01	$	0.38
Awards excluded from diluted EPS	149,841		108,000			149,841		108,000

Our weighted average number of common stock decreased as a result of our repurchase of 192,207 shares and 403,156 shares of Class A Common Stock for the quarter and nine months ended September 30, 2017,respectively, pursuant to our current stock repurchase program.

Note 5 – Property and Equipment

Operating Property, net

As of September 30, 2017 and December 31, 2016, property associated with our operating activities is summarized as follows:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Land	$	76,736	$	73,803
Building and improvements		130,923		122,863
Leasehold improvements		48,605		46,902
Fixtures and equipment		130,086		118,180
Construction-in-progress		19,922		11,517
Total cost		406,272		373,265
Less: accumulated depreciation		(180,641)		(161,379)
Operating property, net	$	225,631	$	211,886

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Depreciation expense for operating property was $4.0 million and $11.8 millionfor the quarterand nine months ended September 30, 2017, and$4.0 million and $11.2 million for the quarter and nine months endedSeptember 30, 2016.

Investment and Development Property, net

As of September 30, 2017 and December 31, 2016, our investment and development property is summarized below:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Land	$	25,285	$	24,616
Building		1,900		1,900
Construction-in-progress (including capitalized interest)		46,566		17,171
Investment and development property	$	73,751	$	43,687

Construction-in-Progress – Operating and Investing Properties

Construction-in-Progress balances are included in both our operatingand development properties. The balances of our major projects along with the movements for the nine months ended September 30, 2017 are shown below:

(Dollars in thousands)		Balance, December 31, 2016		Additions during the period(1)		Completed during the period		Foreign currency movements		Balance, September 30, 2017
Union Square development	$	11,412	$	13,413	$	--	$	--	$	24,825
Newmarket Property development		2,106		14,492		--		438		17,036
Courtenay Central development		3,510		883		--		149		4,542
Cinema developments and improvements		7,796		8,810		(1,845)		64		14,825
Other real estate projects		3,864		5,141		(3,942)		197		5,260
Total	$	28,688	$	42,739	$	(5,787)	$	848	$	66,488

(1) Includes capitalized interest of $369,000 and $790,000 for the quarter and nine months ended September 30, 2017.

Real Estate Transactions

Sale of Landholding in Burwood, Australia

On May 12, 2014, we entered into a contract to sell our undeveloped 50.6 acre parcel in Burwood, Victoria, Australia, to Australand Holdings Limited (now known as Frasers Property Australia, “Frasers”) for a purchase price of $50.8 million (AU$65.0 million).  We received $5.9 million (AU$6.5 million) on May 23, 2014. 

The agreement provides for mandatory pre-payments in the event that any of the land is sold by the buyer, any such prepayment being in an amount equal to the greater of (a) 90% of the net sales price or (b) the balance of the purchase price multiplied by a fraction the numerator of which is the square footage of property being sold by the buyer and the denominator of which is the original square footage of the property being sold to the buyer.  The agreement does not provide for the payment of interest on the balance owed.

On June 19, 2017, Frasers sold a parcel of land for which we received additional payment in the amount of $16.5 million (AU$21.8 million), representing 90% of the net sales price.  We expect the final settlement on the remaining receivable amount of $28.8 million  (AU36.7 million), included as part of “Receivables” in our Consolidated Balance Sheet, to occur in December 2017.  Cumulatively, this transaction now has achieved the requisites to consummate the sale.  Since there is reasonable assurance of cost recovery and we have assessed the collectability of the remaining receivable to be high, we recognized the sale of the land and the total transaction gain, in the amount of $9.4 million (AU$12.5 million) during the quarter ended June 30, 2017, determined as follows:

(Dollars in thousands)	In AU$
Selling price	$	65,000
Less: Property book value		(52,108)
Total transaction gain, gross		12,892
Less: Direct costs incurred(1)		(439)
Total transaction gain, net	$	12,453

(1) Represents commissions and legal expenses incurred in connection with this transaction. 

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Sale of Properties in Taupo, New Zealand

On April 1, 2015, we entered into two definitive purchase and sale agreements to sell our properties at Taupo, New Zealand for a combined sales price of $2.4 million (NZ$3.4 million).  The first agreement related to a property with a sales price of $1.6 million (NZ$2.2 million) and a book value of $1.3 million (NZ$1.8 million), which closed on April 30, 2015 when we received the sales price in full. The other agreement related to a property with a sales price of $831,000  (NZ$1.2 million) and a book value of $426,000 (NZ$615,000) which was completed and for which we received cash settlement representing the full sales price on March 31, 2016.  The first transaction qualified as a sale under both U.S. GAAP and tax purposes during the year-ended December 31, 2015.  The second transaction was recorded as a sale during the quarter ended March 31, 2016.

Note 6 – Investments in Unconsolidated Joint Ventures

Our investments in unconsolidated joint ventures are accounted for under the equity method of accounting. Our previous investment in Rialto Distribution, which was fully written off since 2010, has been transferred to our previous business partners.  As part of our exit strategy, we paid an amount lower than the accrual we had taken for our debt obligation in the joint venture.  Consequently, we recognized a gain of  $15,000  (NZ$21,000) during the quarter ended June 30, 2017.

The table below summarizes our active investment holdings in two (2) unconsolidated joint ventures as of September 30, 2017 and December 31, 2016:

		September 30,		December 31,
(Dollars in thousands)	Interest	2017		2016
Rialto Cinemas	50.0%	$	1,211	$	1,197
Mt. Gravatt	33.3%		4,128		3,874
Total investments		$	5,339	$	5,071

For the quarter and ninemonths endedSeptember 30, 2017 and 2016, therecognized share of equity earnings from our investments in unconsolidated joint ventures are as follows:

	Quarter Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)		2017		2016		2017		2016
Rialto Cinemas	$	32	$	47		93		208
Mt. Gravatt		104		153		561		600
Total equity earnings	$	136	$	200	$	654	$	808

Note 7 – Goodwill and Intangible Assets

The table below summarizes goodwill by business segment as of September 30, 2017 and December 31, 2016.  

(Dollars in thousands)	Cinema		Real Estate		Total
Balance at December 31, 2016	$	14,604	$	5,224	$	19,828
Foreign currency translation adjustment		610		--		610
Balance at September 30, 2017	$	15,214	$	5,224	$	20,438

The Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis.  Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2017.  To test the impairment of goodwill, the Company compares the fair value of each reporting unit to its carrying amount,including the goodwill,to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. As of September 30, 2017, we were not aware of any events indicating potential impairment of goodwill had occurred.

The tables below summarize intangible assets other than goodwill as ofSeptember 30, 2017 and December 31, 2016, respectively.

	As of September 30, 2017
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,879	$	7,254	$	1,087	$	37,220
Less: Accumulated amortization		(22,971)		(4,860)		(480)		(28,311)
Net intangible assets other than goodwill	$	5,908	$	2,394	$	607	$	8,909

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	As of December 31, 2016
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,671	$	7,254	$	1,084	$	37,009
Less: Accumulated amortization		(21,870)		(4,634)		(468)		(26,972)
Net intangible assets other than goodwill	$	6,801	$	2,620	$	616	$	10,037

Beneficial leases are amortized over the life of the lease up to30 years, trade names are amortized based on the accelerated amortization method over its estimated useful life of 45 years, and other intangible assets are amortized over theirestimated useful lives of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets).  The table below summarizes the amortization expense of intangible assets for the quarterand nine months endedSeptember  30, 2017.  

	Quarter Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)	2017		2016		2017		2016
Beneficial lease amortization	$	278	$	578	$	935	$	968
Other amortization		104		296		311		845
Total intangible assets amortization	$	382	$	874	$	1,246	$	1,813

Note 8 – Prepaid and Other Assets

Prepaid and other assets are summarized as follows:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Prepaid and other current assets
Prepaid expenses	$	2,080	$	981
Prepaid rent		1,029		1,237
Prepaid taxes		863		3,098
Deposits		295		404
Investment in marketable securities		45		50
Restricted cash		17		17
Total prepaid and other current assets	$	4,329	$	5,787
Other non-current assets
Straight-line rent		2,509		2,457
Other non-cinema and non-rental real estate assets		1,134		1,134
Investment in Reading International Trust I		838		838
Interest rate cap at fair value		15		1
Long-term deposits		5		39
Insurance receivable(1)	$	--	$	9,480
Total other non-current assets	$	4,501	$	13,949

(1)This was subsequently received in May 2017 as a result of the final settlement from our Insurer.  Refer to Note 18 – Insurance Recoveries for further discussion on this item.

Note 9 – Income Taxes

The provision for income taxes is different from the amount determined by applying the U.S. federal statutory rate to consolidated income before taxes.  The differences are attributable to foreign tax rate differential, unrecognized tax benefits, change in valuation allowance, and non-taxable insurance proceeds. Our effective tax rate was 26.0% and 31.8% for the nine months ended September 30, 2017 and 2016, respectively.  The change between 2017 and 2016 is primarily related to non-taxable income from insurance proceeds received in 2017 relating to our demolished Courtenay Central parking structure in Wellington, New Zealand.

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Note 10 – Debt

The Company’s borrowings at September 30, 2017 and December 31, 2016, net of deferred financing costs and including the impact of interest rate derivatives on effective interest rates, are summarized below:

		As of September 30, 2017
(Dollars in thousands)		Maturity Date	Contractual Facility		Balance, Gross		Balance, Net(3)		Stated Interest Rate	Effective Interest Rate (1)
Denominated in USD
	Trust Preferred Securities (USA)	April 30, 2027	$	27,913	$	27,913	$	27,501	5.31%	5.20%
	Bank of America Credit Facility (USA)	November 28, 2019		55,000		40,500		40,481	3.74%	3.65%
	Bank of America Line of Credit (USA)	October 31, 2019		5,000		--		--	4.24%	4.24%
	Cinema 1, 2, 3 Term Loan (USA)(4)	September 1, 2019		19,601		19,601		19,168	3.25%	3.25%
	Minetta & Orpheum Theatres Loan (USA)(4)	June 1, 2018		7,500		7,500		7,452	4.00%	4.00%
	U.S. Corporate Office Term Loan (USA)(4)	January 1, 2027		9,774		9,774		9,651	4.64%	4.64%
	Union Square Construction Financing (USA)(4)	December 29, 2019		57,500		8,000		5,351	5.49%	5.49%
Denominated in foreign currency ("FC") (2)
	NAB Corporate Term Loan (AU)	June 28, 2019		52,136		38,024		37,920	3.55%	3.55%
	Westpac Corporate Credit Facility (NZ)	December 31, 2018		38,293		--		--	3.70%	3.70%
			$	272,717		151,312		147,524

(1) Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of September 30, 2017.

(2) The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of September 30, 2017.

(3) Net of deferred financing costs amounting to $3.8 million.

(4) The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.  In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. 

		As of December 31, 2016
(Dollars in thousands)		Maturity Date	Contractual Facility		Balance, Gross		Balance, Net(3)		Stated Interest Rate	Effective Interest Rate (1)
Denominated in USD
	Trust Preferred Securities (USA)	April 30, 2027	$	27,913	$	27,913	$	27,340	4.89%	5.20%
	Bank of America Credit Facility (USA)	November 28, 2019		55,000		39,950		39,759	3.27%	3.90%
	Bank of America Line of Credit (USA)	October 31, 2019		5,000		--		--	3.77%	3.77%
	Cinema 1, 2, 3 Term Loan (USA)(4)	September 1, 2019		19,901		19,901		19,356	3.25%	3.25%
	Minetta & Orpheum Theatres Loan (USA)(4)	June 1, 2018		7,500		7,500		7,398	3.38%	3.38%
	U.S. Corporate Office Term Loan (USA)(4)	January 1, 2027		8,363		8,363		8,239	4.64%	4.64%
	Union Square Construction Financing (USA)(4)	December 29, 2019		57,500		8,000		4,751	4.52%	4.52%
Denominated in FC (2)
	NAB Corporate Term Loan (AU)	June 30, 2019		48,080		28,558		28,421	2.64%	2.64%
	Westpac Corporate Credit Facility (NZ)	March 31, 2018		36,877		8,350		8,350	3.80%	3.80%
			$	266,134	$	148,535	$	143,614

(1) Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of December 31, 2016.

(2) The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of December 31, 2016.

(3) Net of deferred financing costs amounting to $4.9 million.

(4) The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation ofthe construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. 

The Minetta & Orpheum Theatres Loan will become due within one year.  Currently, we are negotiating with our lender to renew this borrowing. 

Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:

	Dollars in thousands
Balance Sheet Caption	September 30, 2017		December 31, 2016
Debt - current portion	$	8,084	$	567
Debt - long-term portion		111,939		115,707
Subordinated debt		27,501		27,340
Total borrowings	$	147,524	$	143,614

Union Square Construction Financing

On December 29, 2016, we closed our new construction finance facilities totaling $57.5 million to fund the non-equity portion of the

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anticipated construction costs of the redevelopment of our property at 44 Union Square in New York City. The combined facilities consist of $50 million in aggregate loans (comprised of three loan tranches) from Bank of the Ozarks and a $7.5 million mezzanine loan from Tammany Mezz Investor, LLC, an affiliate of Fisher Brothers.  As of December 31, 2016, Bank of the Ozarks advanced $8.0 million to repay the then existing $8.0 million loan with East West Bank.

Presented in the table below is the breakdown of the Union Square construction financing as of September 30, 2017:

(Dollars in thousands)		Facility Limits and Advances
Financing Component	Lender	Facility Limit		Advanced-to- Date		Remaining Facility		Interest Rate(1)	Maturity Date(2)
Mezzanine loan	Tammany Mezz Investor LLC	$	7,500	$	--	$	7,500	Greater of (i) 10.50% and (ii) Adjusted LIBOR + 10%	December 29, 2019
Senior loan, including building and project loan	Bank of the Ozarks		50,000		8,000		42,000	Greater of (i) 4.75% and (ii) Adjusted LIBOR + 4.25%	December 29, 2019
Total Union Square Financing		$	57,500	$	8,000	$	49,500

(1) Not to exceed the New York State maximum lawful borrowing rate, which typically is 16%.

(2) Allowable for up to two (2) extension request options, one (1) year for each extension request.

Cinema 1,2,3 Term Loan

On August 31, 2016, Sutton Hill Properties LLC (“SHP”), a 75% subsidiary of RDI, refinanced its $15.0 million Santander Bank term loan with a different lender, Valley National Bank.  This new $20.0 million loan is collateralized by our Cinema 1,2,3 property and bears an interest rate of 3.25%  per annum, with principal instalments and accruing interest paid monthly. The new loan matures on September 1, 2019, with a one-time option to extend the maturity date for another year.

Bank of America Credit Facility

On March 3, 2016, we amended our $55.0 million credit facility with Bank of America to permit real property acquisition loans.  This amendment providesthat the consolidated leverage ratio be reduced by 0.25% from the established levels in the credit facility during the period of such borrowing,with a repayment term based on the earlier of the eighteen months from the date of such borrowing or the maturity date of the credit agreement.  Such modification was not considered substantial in accordance with U.S. GAAP.

Bank of America Line of Credit

In October 2016, the term of this line of credit was extended to October 31, 2019.  Such modification was not considered to be substantial under US GAAP.

Westpac Bank Corporate Credit Facility

On April 26, 2017, we extended the maturity of the 1st tranche (general/non-construction credit line) of our Westpac Corporate Credit Facility, $24.5 million (NZ$35.0 million) to December 31, 2018, from March 31, 2018.  We  are currentlyworking on a longer-term renewal of our Westpac Corporate Credit Facility which will replace the existingfacility.

U.S. Corporate Office Term Loan

On December 13, 2016, we obtained a ten-year $8.4 million mortgage loan on our new Los Angeles Corporate Headquarters at a fixed annual interest rate of 4.64%.This loan provided for a second loan upon completion of certain improvements.  On June 26, 2017, we obtained a further $1.5 million under this provisionat a fixed annual interest rate of 4.44%.

Note 11 – Other Liabilities

Other liabilities are summarized as follows:

(Dollars in thousands)	September 30, 2017		December 31, 2016
Current liabilities
Lease liability	$	5,900	$	5,900
Liability for demolition costs		2,934		5,914
Accrued pension		2,736		2,223
Security deposit payable		90		77
Other		--		17
Other current liabilities	$	11,660	$	14,131
Other liabilities
Straight-line rent liability	$	12,759	$	12,413
Lease make-good provision		5,596		5,146
Accrued pension		5,354		5,732
Environmental reserve		1,656		1,656
Deferred revenue - real estate		3		4,398
Acquired leases		209		267
Interest rate swap		--		58
Other		479		495
Other liabilities	$	26,056	$	30,165

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On August 29, 2014, the Supplemental Executive Retirement Plan (“SERP”) that has beeneffective since March 1, 2007, was ended and replaced in accordance with the terms of a pension annuity.  As a result of the termination of the SERP program, the accrued pension liability of $7.6 million was reversed and replaced with this pension annuity liability of $7.5 million.  The valuation of the liability is based on the present value of $10.2 million discounted at a rate of 4.25% over a 15- year term, resulting in a monthly payment of $57,000.  The discount rate of 4.25% has been applied since 2014 to determine the net periodic benefit cost and plan benefit obligation and is expected to be used in future years.  The discounted value of $2.7 million (which is the difference between the estimated payout of $10.2 million and the present value of $7.5 million) as of August 29, 2014 will be amortized and expensed based on the 15-year term.  In addition, the accumulated actuarial loss of $3.1 million recorded, as part of other comprehensive income will also be amortized based on the 15-year term.

As a result of the above, included in our current and non-current liabilities are accrued pension costs of $8.1 million at September 30, 2017.  The benefits of our pension plans are fully vested and thereforeno service costs were recognized for thequarter and ninemonths ended September 30, 2017 and 2016.  Our pension plans are unfunded.  During the quarter and  nine months ended September 30, 2017, the interest cost was $45,000 and $135,000, respectively, and actuarial loss was $52,000 and $155,000, respectively.  During the quarter and nine months ended September 30, 2016, the interest cost was $45,000 and $135,000, respectively, and actuarial loss was $52,000 and $116,000, respectively.

Note 12 – Accumulated Other Comprehensive Income

The following table summarizes the changes in each component of accumulated other comprehensive income attributable to RDI:

(Dollars in thousands)	Foreign Currency Items		Unrealized Gain (Losses) on Available-for-Sale Investments		Accrued Pension Service Costs		Total
Balance at January 1, 2017	$	14,784	$	10	$	(2,719)	$	12,075
Net current-period other comprehensive income		10,173		(4)		155		10,324
Balance at September 30, 2017	$	24,957	$	6	$	(2,564)	$	22,399

Note 13 – Commitments and Contingencies

Litigation

Derivative Litigation and James J. Cotter, Jr. Employment Arbitration

On June 12, 2015, the Board of Directors terminated James J. Cotter, Jr. as the President and Chief Executive Officer of our Company.  That same day, Mr. Cotter, Jr. filed a lawsuit, styled as both an individual and a derivative action, and titled “James J. Cotter, Jr., individually and derivatively on behalf of Reading International, Inc. vs. Margaret Cotter, et al.” Case No,: A-15-719860-V, Dept. XI, against our Company and each of our then sitting Directors (Ellen Cotter, Margaret Cotter, Guy Adams, William Gould, Edward Kane, Douglas McEachern, and Tim Storey) in the Eighth Judicial District Court of the State of Nevada for Clark County (the “Nevada District Court”).   Since that date, our Company has been engaged in ongoing litigation with Mr. Cotter, Jr. with respect to his claims against our Directors. Mr. Cotter, Jr. has over this period of time twice amended his complaint, removing his individual claims and withdrawing his claims against Tim Storey (but reserving the right to reinstitute such claims), adding claims relating to actions taken by our Board since the filing of his original complaint and adding as defendants two of our directors who were not on our Board at the time of his termination:  Judy Codding and Michael Wrotniak.  Mr. Cotter, Jr.’s lawsuit, as amended from time to time, is referred to herein as the “Cotter Jr. Derivative Action” and his complaint, as amended from time to time, is referred to herein as the “Cotter Jr. Derivative Complaint.”  The defendant directors named in the Cotter Jr. Derivative Complaint, from time to time, are referred to herein as the “Defendant Directors.”

The Cotter Jr. Derivative Complaint alleges among other things, that the Defendant Directors breached their fiduciary duties to the Company by terminating  Mr. Cotter, Jr. as President and Chief Executive Officer,  continuing to make use of the Executive Committee that has been in place for more than the past ten years (but which no longer includes Mr. Cotter, Jr. as a member), making allegedly potentially misleading statements in our Company’s press releases and filings with the SEC, paying certain compensation to Ellen Cotter, allowing the Cotter Estate to make use of Class A Common Stock to pay for the exercise of certain long outstanding stock options to acquire 100,000 shares of Class B Common Stock held of record by the Cotter Estate and determined by the Nevada District Court to be assets of the Cotter Estate, and allowing Ellen Cotter and Margaret Cotter to vote the 100,000 shares of Class B Common Stock issued upon the exercise of such options, appointing Ellen Cotter as President and Chief Executive Officer, appointing Margaret Cotter as Executive Vice President-Real Estate Management and Development-NYC, and the way in which the Board handled an unsolicited indication of interest made by a third party to acquire all of the stock of our Company. In the lawsuit, Mr. Cotter, Jr. seeks, among other things, reinstatement as President and Chief Executive Officer, a declaration that Ellen Cotter and Margaret Cotter may not vote the above referenced 100,000 shares of Class B Stock, and alleges as damages fluctuations in the price for our Company’s shares after the announcement of his termination as President and Chief Executive Officer and certain unspecified

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damages to our Company’s reputation.

In addition, our Company is in arbitration with Mr. Cotter, Jr.  (Reading International, Inc. v. James J. Cotter, AAA Case No. 01-15-0004-2384, filed July 2015) (the “Cotter Jr. Employment Arbitration”) seeking declaratory relief and defending claims asserted by Mr. Cotter, Jr.  On January 20, 2017, Mr. Cotter Jr. filed a First Amended Counter-Complaint which includes claims of breach of contract, contractual indemnification, retaliation, wrongful termination in violation of California Labor Code § 1102.5, wrongful discharge, and violations of California Code of Procedure § 1060 based on allegations of unlawful and unfair conduct. Mr. Cotter, Jr. seeks compensatory damages estimated by his counsel at more than $1.2 million, plus unquantified special and punitive damages, penalties, interest and attorney’s fees.  On April 9, 2017, the Arbitrator granted without leave to amend the Company’s motion to dismiss Mr. Cotter, Jr.’s claims for retaliation, violation of labor code §1102.5 and wrongful discharge in violation of public policy.

Mr. Cotter, Jr. also brought a direct action in the Nevada District Court (James J. Cotter, Jr. v. Reading International, Inc., a Nevada corporation; Does 1-100 and Roe Entities, 1-100, inclusive, Case No. A-16-735305-B) seeking advancement of attorney’s fees incurred in the Cotter Jr. Employment Arbitration.   Summary judgment was entered against Mr. Cotter, Jr. with respect to that direct action on October 3, 2016.

For a period of approximately 12 months, between August 6, 2015 and August 4, 2016, our Company and our directors other than Mr. Cotter, Jr. were subject to a derivative lawsuit  filed in the Nevada District Court captioned T2 Partners Management, LP, a Delaware limited partnership, doing business as Kase Capital Management; T2 Accredited Fund, LP, a Delaware limited partnership, doing business as Kase Fund; T2 Qualified Fund, LP, a Delaware limited partnership, doing business as Kase Qualified Fund; Tilson Offshore Fund, Ltd, a Cayman Islands exempted company; T2 Partners Management I, LLC, a Delaware limited liability company, doing business as Kase Management; T2 Partners Management Group, LLC, a Delaware limited liability company, doing business as Kase Group; JMG Capital Management, LLC, a Delaware limited liability company, Pacific Capital Management, LLC, a Delaware limited liability company (the “T2 Plaintiffs”), derivatively on behalf of Reading International, Inc. vs. Margaret Cotter, Ellen Cotter, Guy Adams, Edward Kane, Douglas McEachern, Timothy Storey, William Gould and Does 1 through 100, inclusive, as defendants, and, Reading International, Inc., a Nevada corporation, as Nominal Defendant.  That complaint was subsequently amended (as amended the “T2 Derivative Complaint”) to add as defendants Directors Judy Codding and Michael Wrotniak (collectively with the directors initially named the “T2 Defendant Directors”) and S. Craig Tompkins, our Company’s legal counsel (collectively with the T2 Defendant Directors, the “T2 Defendants”).    The T2 Derivative Action was settled pursuant to a Settlement Agreement between the parties dated August 4, 2016, which as modified was approved by the Nevada District Court on October 6, 2016.   The District Court’s Order provided for the dismissal with prejudice of all claims contained in the T2 Plaintiffs’ First Amended Complaint and provide that each side would be responsible for its own attorneys’ fees. 

In the joint press release issued by our Company and the T2 Plaintiffs on July 13, 2016, representatives of the T2 Plaintiffs stated as follows:  "We are pleased with the conclusions reached by our investigations as Plaintiff Stockholders and now firmly believe that the Reading Board of Directors has and will continue to protect stockholder interests and will continue to work to maximize shareholder value over the long-term.  We appreciate the Company's willingness to engage in open dialogue and are excited about the Company's prospects. Our questions about the termination of James Cotter, Jr., and various transactions between Reading and members of the Cotter family-or entities they control-have been definitively addressed and put to rest. We are impressed by measures the Reading Board has made over the past year to further strengthen corporate governance.  We fully support the Reading Board and management team and their strategy to create stockholder value.”

The T2 Plaintiffs alleged in their T2 Derivative Complaint various violations of fiduciary duty, abuse of control, gross mismanagement and corporate waste by the T2 Defendant Directors.  More specifically the T2 Derivative Complaint sought the reinstatement of James J. Cotter, Jr. as President and Chief Executive Officer, an order setting aside the election results from the 2015 Annual Meeting of Stockholders, based on an allegation that Ellen Cotter and Margaret Cotter were not entitled to vote the shares of Class B Common Stock held by the Cotter Estate and the Cotter Trust, and certain monetary damages, as well as equitable injunctive relief, attorney fees and costs of suit.   In May 2016, the T2 Plaintiffs unsuccessfully sought a preliminary injunction (1) enjoining the Inspector of Elections from counting at our 2016 Annual Meeting of Stockholders any proxies purporting to vote either the 327,808 Class B shares held of record by the Cotter Estate or the 696,080 Class B shares held of record by the Cotter Trust, and (2) enjoining Ellen Cotter, Margaret Cotter and James J. Cotter, Jr. from voting the above referenced shares at the 2016 Annual Meeting of Stockholders.  This request for preliminary injunctive relief was denied by the Nevada District Court after a hearing on May 26, 2016.

On September 15, 2016, Mr. Cotter, Jr. filed a writ with the Nevada Supreme Court seeking a determination that the Nevada District Court erred in its determination that, by communicating his thoughts about the Cotter Jr. Derivative Action with counsel for the T2 Plaintiffs without any confidentiality or joint representation agreement, Mr. Cotter, Jr’s counsel waived any attorney work product privilege that might otherwise have been applicable to such communication.  Our Company is of the view that any privilege was waived by the unprotected communication of such thoughts to a third party such as counsel to the T2 Plaintiffs.  On March 23, 2017, the Nevada Supreme Court set oral argument on the matter for the next available calendar.

On February 14, 2017, we filed a writ with the Nevada Supreme Court seeking a determination that the Nevada District Court erred in

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its decision to allow Mr. Cotter, Jr. access to certain communications between the Defendant Directors and Company counsel, which the Defendant Directors and our Company believe to be subject to the attorney-client communication privilege. Specifically, our writ asks the Nevada Supreme Court to determine whether the fact that the Defendant Directors are relying upon the Nevada business judgment rule constitutes, in whole or in part, a waiver of the attorney-client privilege held by us. 

Our request was substantially mooted by the decision in July 2017 in the Wynn Resorts Case, in which similar issues were considered.  In that case, the Nevada Supreme Court stated:

Accordingly, we reiterate that the business judgment rule goes beyond shielding directors from personal liability in decision-making.  Rather, it also ensures that courts defer to the business judgment of corporate executives and prevents courts from “substitute[ing] [their] own notions of what is or is not sound business judgment,” if “the directors of a corporation acted on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the company.”  [Citations omitted]

And,

We agree that “it is the existence of legal advice that is material to the question of whether the board acted with due care, not the substance of that advice.”  Accordingly, the district court erred when it compelled Wynn Resorts to produce any attorney client privileged . . . documents on the basis that Wynn Resorts waive the attorney-client privilege of those documents by claiming the business judgment rule as a defense.  [Citations omitted]. 

On September 28, 2017 the Nevada Supreme Court concluded judicial economy would best be served if petitioners asked the District Court to reconsider the challenge based on the Wynn Resorts findings.   Based in large part on the Nevada Supreme Court’s decision in Wynn Resorts, The Nevada District Court has now denied Mr. Cotter, Jr.’s motion to discover advice given by Company counsel to the Defendant Directors.

Discovery is now complete, and we believe it likely that the Cotter, Jr. Derivative Action will likely go to a jury trial in the first quarter of 2018.

The Cotter Jr. Employment Arbitration is in the discovery phase.

Our Company is and was legally obligated to cover the costs and expenses incurred by our Defendant Directors in defending the Cotter Jr. Derivative Action and the T2 Derivative Action.  Furthermore, although in a derivative action, the stockholder plaintiff seeks damages or other relief for the benefit of our Company, and not for the stockholder plaintiff’s individual benefit and, accordingly, we are, at least in theory, only a nominal defendant, as a practical matter, because Mr. Cotter, Jr. is also seeking, among other things, an order that our Board’s determination to terminate Mr. Cotter, Jr. was ineffective and that he be reinstated as the President and Chief Executive Officer of our Company and also limiting the use of our Board’s Executive Committee, and as he asserts potentially misleading statements in certain press releases and filings with the SEC, our Company is also incurring on its own account significant cost and expense defending the decision to terminate Mr. Cotter, Jr. as President and Chief Executive Officer, its board committee structure, and the adequacy of those press releases and filings, in addition to its costs incurred in responding to discovery demands and satisfying indemnity obligations to the Defendant Directors.  Likewise, in connection with the T2 Derivative Action, our Company incurred substantial costs defending claims related to the defense of claims relating to the termination of Mr. Cotter, Jr., opposing his reinstatement, and defending the conduct of its annual meetings.  Cost incurred in the Cotter Jr. Employment Arbitration and in the defense of the Cotter Jr. Attorney’s fees case were direct costs of our Company.

The Directors and Officer’s Insurance Policy, in the amount of $10 million, being used to cover a portion of the costs of defending the Cotter Jr. Derivative Action, has been exhausted.  We are now covering the defense costs of the Defendant Directors, in addition to our own costs incurred in connection with the Cotter Jr. Derivative Action.  

On August 7, 2017, our Board  appointed a Special Independent Committee to, among other things, review, consider, deliberate, investigate, analyze, explore, evaluate, monitor and exercise general oversight of any and all activities of the Company directly or indirectly involving, responding to or relating to the Cotter  Jr. Derivative Action, the Cotter Jr. Employment Arbitration and any other litigation or arbitration matters involving any one or more of Ellen Cotter, Margaret Cotter, James J. Cotter, Jr., the Cotter Estate and/or the Cotter Living Trust.   Directors Judy Codding, William Gould and Douglas McEachern have been appointed to serve on this Special Independent Committee.

The STOMP Arbitration 

In April 2015, Liberty Theatres, LLC (“Liberty”), a wholly owned subsidiary of the Company, commenced an American Arbitration Association arbitration proceeding (Case No.:01-15-0003-3728) against The Stomp Company Limited Partnership (“Stomp”), the producer of the show STOMP, in response to Stomp’s purported termination of their license agreement with Liberty relating to such show.  STOMP has been playing at our Orpheum Theatre in New York City for 23 years and still continues to play to date.  Liberty sought specific performance, injunctive and declaratory relief and damages.  Stomp counterclaimed for unspecified damages, alleging

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that Liberty has interfered with the Stomp’s endeavors to move the show to another Off-Broadway theater. Stomp based its purported termination of the license agreement upon the alleged deficient condition of the Orpheum Theater.

On December 18, 2015, the Arbitrator issued his Partial Final Award of Arbitration, providing for, among other things (i) the issuance of a permanent injunction prohibiting Stomp from “transferring or taking actions to market, promote, or otherwise facilitate any transfer of, STOMP to another theatre in New York City having fewer than 500 seats without Liberty’s prior written consent”, (ii) the Stomp’s Notice of Termination purportedly terminating the parties’ license agreement was invalid, null and void and the License Agreement remains in full force and effect, and (iii) the award to Liberty of its reasonable attorneys’ fees in an amount to be determined by the Arbitrator.  

In explaining his decision to award Liberty its reasonable attorneys’ fees, the Arbitrator stated as follows:  “Liberty is entitled to such an award [of attorneys’ fees] not only because it is the prevailing party in this proceeding, but because [the Producer] unfairly disparaged the Orpheum and caused Liberty to incur attorneys’ fees in order to address and resolve [the Producer’s] groundless and frivolous allegations with respect to the Orpheum’s condition, Liberty’s performance under the License Agreement, and Stomp’s reasons for seeking to transfer STOMP to a larger theatre.”

In April 2016, we received a Final Award in our arbitration with Stomp.   The Final Award awards us $2.3 million in attorney’s fees and costs.  In September 2016, the parties agreed on the payment terms of the Final Award (“Payment Agreement”), on a basis that is intended to allow recovery by Liberty of the entire Final Award (plus interest at 4%), while at the same time allowing the show to continue playing at our Orpheum Theater.  Under the Payment Agreement, Stomp have paid a total of $1.6million to-date, $1.1 million of which were received during the nine months ended September 30, 2017.   The remaining amount is to be paid over time, with final payment due and payable in June 2019.  We have filed a judgment of the arbitral award against Stomp with the New York Supreme Court to protect Liberty in the event Stomp defaults on the Payment Agreement.  STOMP continues to play at our Orpheum Theater under a license agreement that was amended by the Payment Agreement.

Note 14 – Non-controlling Interests

These are composed of the following enterprises:

· Australia Country Cinemas Pty Ltd. -- 25% noncontrolling interest owned by Panorama Cinemas for 21st Century Pty Ltd.;

· Shadow View Land and Farming, LLC -- 50% noncontrolling membership interest owned by either the estate of Mr. James J. Cotter, Sr. (the “Cotter Estate”) and/or the James J. Cotter, Sr. Living Trust (the “Cotter Trust”); and,

· Sutton Hill Properties, LLC -- 25% noncontrolling interest owned by Sutton Hill Capital, LLC (which in turn is 50% owned by Cotter Estate and/or the Cotter Trust).

The components of noncontrolling interests are as follows:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Australian Country Cinemas, Pty Ltd	$	228	$	264
Shadow View Land and Farming, LLC		1,885		1,980
Sutton Hill Properties, LLC		2,082		2,174
Noncontrolling interests in consolidated subsidiaries	$	4,195	$	4,418

The components ofincome/(loss) attributable to noncontrolling interests are as follows:

	Quarter Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)	2017		2016		2017		2016
Australian Country Cinemas, Pty Ltd	$	72	$	79	$	184	$	137
Shadow View Land and Farming, LLC		(132)		(12)		(158)		(29)
Sutton Hill Properties, LLC		(38)		(5)		(92)		(96)
Net income (loss) attributable to noncontrolling interests	$	(98)	$	62	$	(66)	$	12

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Summary of Controlling and Noncontrolling Stockholders’ Equity

A summary of the changes in controlling and noncontrolling stockholders’ equity is as follows:

(Dollars in thousands)		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at January 1, 2017	$	142,197	$	4,418	$	146,615
Net income		23,619		(66)		23,553
Increase in additional paid in capital		936		--		936
Treasury stock purchased		(6,475)		--		(6,475)
Contributions from noncontrolling stockholders - SHP		--		63		63
Distributions to noncontrolling stockholders		--		(240)		(240)
Accumulated other comprehensive income		10,323		20		10,343
Equity at September 30, 2017	$	170,600	$	4,195	$	174,795
(Dollars in thousands)		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at January 1, 2016	$	132,865	$	4,331	$	137,196
Net income (loss)		9,054		12		9,066
Increase in additional paid in capital		447		--		447
Contributions from noncontrolling stockholders - SHP		--		268		268
Distributions to noncontrolling stockholders		--		(194)		(194)
Accumulated other comprehensive loss		9,414		14		9,428
Equity at September 30, 2016	$	151,780	$	4,431	$	156,211

Note 15 –Stock-Based Compensation and Stock Repurchases

Employee and Director Stock Option Plan

The Company may grant stock options and other share-based payment awards of our Class A Common Stock to eligible employees, directors, and consultants under the 2010 Stock Incentive Plan (the “Plan”). The aggregate total number of shares of the Class A Common Stock authorized for issuance under the Plan is1,250,000.   As of September 30, 2017, we had 302,540 shares remaining for future issuances.

Since the adoption of the Plan in 2010, the Company has granted awards primarily in the form of stock options.  In the 1st quarter of 2016, the Company started to award restricted stock units (“RSUs”) to directors and certain members of management.  Stock options are generally granted at exercise prices equal to the grant-date market prices and typically expire no later than five years from the grant date.  In contrast to a stock option where the grantee buys the Company’s share at an exercise price determined on grant date, an RSU entitles the grantee to receive one share for every RSU based on a vesting plan.  At the discretion of our Compensation and Stock Options Committee, the vesting period of stock options and RSUs granted to employees ranges from zero to four years. Grants to directors and certain executive officers are subject to Board approval.  At the time the options are exercised or RSUs vest, at the discretion of management, we will issue treasury shares or make a new issuance of shares to the option or RSU holder.

Stock Options

We estimate the grant-date fair value of our stock options using the Black-Scholes option-valuation model, which takes into account assumptions such as the dividend yield, the risk-free interest rate, the expected stock price volatility, and the expected life of the options.  We expense the estimated grant-date fair values of options over the vesting period on a straight-line basis. Based on our historical experience, the “deemed exercise” of expiring in-the-money options and the relative market price to strike price of the options, we have not hereto estimated any forfeitures of vested or unvested options.

For the nine months ended September 30, 2017 and 2016, respectively, the weighted average assumptions used in the option-valuation model were as follows:

	Nine Months Ended September 30
	2017			2016
Stock option exercise price	$	15.94	11.87
Risk-free interest rate		1.66%	1.20%
Expected dividend yield		--	--
Expected option life in years		3.75	3.75
Expected volatility		24.95%	25.01%
Weighted average fair value	$	3.45	2.49

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For the quarter ended September 30, 2017 and 2016, we recorded compensation expense of $86,000 and$74,000, respectively.For the nine months ended September 30, 2017 and 2016, we recorded compensation expense of $223,000 and$264,000, respectively.  At September 30, 2017, the total unrecognized estimated compensation expense related to non-vested stock options was $915,000, which we expect to recognize over a weighted average vesting period of 1.93 years.  The intrinsic, unrealized value of all options outstanding, vested and expected to vest, at September 30, 2017 was $3.0 million, of which 79.5% are currently exercisable.

The following table summarizes the information of options outstanding and exercisable as of September 30, 2017 and December 31, 2016:

	Outstanding Stock Options - Class A Shares
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Years of Contractual Life	Aggregate Intrinsic Value
Balance - December 31, 2015	486,565	$	8.68	2.89	$	2,188,011
Granted	169,327		11.87
Exercised	(46,815)		9.50		$	220,002
Forfeited	(74,000)		7.02
Balance - December 31, 2016	535,077	$	9.84	2.61	$	3,615,191
Granted	169,762		15.94
Exercised	(107,750)		8.94		$	595,873
Forfeited	(2,500)		6.23
Balance - September 30, 2017	594,589	$	11.76	3.02	$	3,007,071

Restricted Stock Units

We estimate the grant-date fair values of our RSUs using the Company’s stock price at grant-date and record such fair values as compensation expense over the vesting period on a straight-line basis.  The following table summarizes the status of the RSUs granted to-date as of September 30, 2017:

	Outstanding Restricted Stock Units
	RSU Grants (in units)		Total	Vested,	Unvested,
Grant Date	Directors	Management	Grants	September 30, 2017	September 30, 2017
March 10, 2016	35,147	27,381	62,528	41,992	20,536
April 11, 2016	--	5,625	5,625	1,406	4,219
March 23, 2017	30,681	32,463	63,144	--	63,144
August 29, 2017	--	7,394	7,394	--	7,394
Total	65,828	72,863	138,691	43,398	95,293

These RSU awards vest 25% at the end of each year for 4 years (in the case of members of management) and vest 100%on the first business day of the year following in which such RSUs were granted (in the case of directors).  For the quarter ended September 30, 2017 and 2016, we recorded compensation expense of $182,000 and$130,000, respectively.  For the nine months ended September 30, 2017 and 2016, we recorded compensation expense of $482,000 and$290,000, respectively.  The total unrecognized compensation expense related to the non-vested RSUs was $1.0 million as of September  30, 2017, which we expect to recognize over a weighted average vesting period of 1.0 year.

Stock Repurchase Program

On March 2, 2017, the Company's Board of Directors authorized management, at its discretion, to spend up to an aggregate of $25.0 million to acquire shares of Reading’s Class A Common Stock.  The previously approved stock repurchase program, which allowed management to spend up to an aggregate of $10.0 million to acquire shares of Reading’s Non-Voting Common Stock, was completed as of December 31, 2016.

The repurchase program allows Reading to repurchase its shares in accordance with the requirements of the SEC on the open market, in block trades and in privately negotiated transactions, depending on market conditions and other factors.  All purchases are subject to the availability of shares at prices that are acceptable to Reading, and accordingly, no assurances can be given as to the timing or number of shares that may ultimately be acquired pursuant to this authorization.

Under the stock repurchase program, the Company has reacquired 403,156 shares of Class A Common Stock for $6.4million at an average price of $15.92 per share (excluding transaction costs) to-date.  This leaves $18.6 million available under the March 2, 2017 program for repurchase as of September30, 2017.

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Note 16 – Derivative Instruments

From time-to-time, we  purchase interest rate derivative instruments to hedge the interest rate risk that results from the variability of our floating-rate borrowings. Our use of derivative transactions is intended to reduce long-term fluctuations in cash flows caused by market movements. All derivative instruments are recorded on the balance sheet at fair value with changes in fair value through interest expense in the Consolidated Statement of Income. As of September 30, 2017, we do not have material derivative positions nor have designated any of these derivatives as accounting hedges.

Note 17 – Fair Value Measurements

ASC 820, Fair Value Measurement establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:

· Level 1: Quoted market prices in active markets for identical assets or liabilities;

· Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and,

· Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

As of September 30, 2017 and December 31, 2016, we do not have material financial assets and financial liabilities carried and measured at fair value on a recurring basis.

The following tables summarize our financial liabilities that are carried at cost and measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016, by level within the fair value hierarchy.

			Fair Value Measurement at September 30, 2017
(Dollars in thousands)	Carrying Value(1)		Level 1		Level 2		Level 3		Total
Notes payable	$	123,399	$	--	$	--	$	122,563	$	122,563
Subordinated debt		27,913		--		--		15,854		15,854
	$	151,312	$	--	$	--	$	138,417	$	138,417

			Fair Value Measurement at December 31, 2016
(Dollars in thousands)	Carrying Value(1)		Level 1		Level 2		Level 3		Total
Notes payable	$	120,622	$	--	$	--	$	121,204	$	121,204
Subordinated debt		27,913		--		--		15,247		15,247
	$	148,535	$	--	$	--	$	136,451	$	136,451

(1) These balances are presented before any deduction for deferred financing costs.

Following is a description of the valuation methodologies used to estimate the fair value of our financial assets and liabilities. There have been no changes in the methodologies used at September 30, 2017 and December 31, 2016.

· Level 1 investments in marketable securities primarily consist of investments associated with the ownership of marketable securities in U.S. and New Zealand. These investments are valued based on observable market quotes on the last trading date of the reporting period.

· Level 2 derivative financial instruments are valued based on discounted cash flow models that incorporate observable inputs such as interest rates and yield curves from the derivative counterparties. The credit valuation adjustments associated with our non-performance risk and counterparty credit risk are incorporated in the fair value estimates of our derivatives.  As of September 30, 2017 and December 31, 2016, we concluded that the credit valuation adjustments were not significant to the overall valuation of our derivatives.  

· Level 3 borrowings include our secured and unsecured notes payable, trust preferred securities and other debt instruments.  The borrowings are valued based on discounted cash flow models that incorporate appropriate market discount rates. We calculated the market discount rate by obtaining period-end treasury rates for fixed-rate debt, or LIBOR for variable-rate debt, for maturities that correspond to the maturities of our debt, adding appropriate credit spreads derived from information obtained from third-party financial institutions.  These credit spreads take into account factors such as our credit rate, debt maturity, types of borrowings, and the loan-to-value ratios of the debt.

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The Company’s financial instruments also include cash, cash equivalents, receivables and accounts payable.  The carrying values of these financial instruments approximate the fair values due to their short maturities. Additionally, there were no transfers of assets and liabilities between levels 1, 2, or 3 during the quarter and nine monthsended September 30, 2017 and September 30, 2016.

Note 18 – Insurance Recoveries

On November 14, 2016, we filed an initial insurance claim with our Insurer with respect to earthquake damage to our parking building adjacent to our Courtenay Central entertainment-themed center (“ETC”) in Wellington, New Zealand and to the ETC itself.  Also, we filed a separate business interruption claim to recover lost profits as a result of the earthquake. As of December 31, 2016, we recorded a recoverable asset to the extent of our incurred losses that we deemed probable of recoverability under our insurance claim,consisting of the (i) written down carrying value of the damaged parking building and (ii) a significant portion of the derivative loss contingencies on demolition activities.   We received an initial settlement from our Insurer in December 2016 amounting to $5.0 million (NZ$7.1 million).

In April 2017, our Insurer concluded that our losses exceeded the earthquake coverage policy limit of $25.0 million (NZ$36.0 million). We received a final settlement of US$20.0 million  (NZ$28.9 million) in May 2017, taking us to the policy limit.

Our allocation of the total insurance proceeds to the various covered risks and the bases for such allocation are described below:

Covered Risks	Basis for Allocation (Dollars in thousands)		Commentary	% Allocation	Allocation of Insurance Proceeds (Dollars in thousands)
Property damage	NZ$	44,808	Estimated replacement cost for Courtenay Central parking building, as determined by an independent construction cost consultant.	81%	NZ$	29,093
Demolition costs		7,276	Actual costs incurred and best estimates of remaining costs to complete the demolition activities of Courtenay Central parking building	13%		4,724
Business interruption		3,415	Estimated lost profits during the closure period relating to our various revenue-generating components within Courtenay Central ETC (including our cinema and property operations)	6%		2,217
Total	NZ$	55,499		100%	NZ$	36,034

As a result of the final settlement, we recorded total insurance gain of $10.7 million (NZ$14.8 million) during the quarter ended June 30, 2017, determined as follows:

	Recoverable Components
	Non-Operating Income						Operating Income
(Dollars in thousands)	Property Damage(1)		Demolition Costs(1)		Total		Business Interruption(2)		Grand Total
Insurance Proceed Allocation	NZ$	29,093	NZ$	4,724	NZ$	33,817	NZ$	2,217	NZ$	36,034
Less: Recorded values of Recoverable Components, June 30, 2017
Recorded as of December 31, 2016		13,451		7,276		20,727		--		20,727
Changes in estimates and others		347		--		347		111		458
		13,798		7,276		21,074		111		21,185
Net Impact in Current Earnings (in NZ$)	NZ$	15,295	NZ$	(2,552)	NZ$	12,743	NZ$	2,106	NZ$	14,849
Net Impact in Current Earnings (in US$)	$	11,063	$	(1,846)	$	9,217	$	1,523	$	10,740

(1) The net impact to current earnings of $9.2 million (NZ$12.7 million) is recorded as “Gain on Insurance Recoveries” in our Consolidated Statement of Income.

(2) The impact to current earnings of $1.5 million (NZ$2.1 million) is recorded as part of the applicable segment revenues in our Consolidated Statement of Income.

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This MD&A should be read in conjunction with the accompanying unaudited consolidated financial statements included in Part I, Item 1 (Financial Statements). The foregoing discussions and analyses contain certain forward-looking statements. Please refer to the “Forward Looking Statements” included at the conclusion of this section.

Item 2 – Management’s Discussions and Analysis (“MD&A”) of Financial Condition and Results of Operations

BUSINESS OVERVIEW

We are an internationally diversified company principally focused on the development, ownership, and operation of entertainment and real estate assets in the United States, Australia, and New Zealand.  Currently, we operate in two business segments:

· Cinema exhibition, through our 58 multiplex cinemas; and,

· Real estate, including real estate development and the rental of retail, commercial and live theater assets.

We believe that these two business segments can complement one another, as we can use the comparatively consistent cash flows generated by our cinema operations to fund the front-end cash demands of our real estate development business.

Cinema Exhibition

We manage our worldwide cinema exhibition businesses under various brands:

· in the U.S., under the following brands: Reading Cinemas, Angelika Film Centers, Consolidated Theatres, and City Cinemas;

· in Australia, under the Reading Cinemas brand; and,

· in New Zealand, under the Reading Cinemas and Rialto brands.

Shown in the following table are the number of locations and theatre screens in our theatre circuit in each country, by state/territory/ region and indicating our cinema brands and our interest in the underlying asset as of September 30, 2017:

	State / Territory /	Location	Screen	Interest in Asset Underlying the Cinema
Country	Region	Count	Count	Leased	Owned	Operating Brands
United States	Hawaii	9	98	9		Consolidated Theatres
	California	7	88	7		Reading Cinemas, Angelika Film Center
	New York(3)	6	23	5	1	Angelika Film Center, City Cinemas
	Texas	2	13	2		Angelika Film Center
	New Jersey	1	12	1		Reading Cinemas
	Virginia	1	8	1		Angelika Film Center
	Washington DC	1	3	1		Angelika Film Center
	U.S. Total	27	245	26	1
Australia	New South Wales	6	43	4	2	Reading Cinemas
	Victoria	6	43	6		Reading Cinemas
	Queensland	4	40	2	2	Reading Cinemas, Event Cinemas(1)
	Western Australia	2	16	1	1	Reading Cinemas
	South Australia	2	15	2		Reading Cinemas
	Australia Total	20	157	15	5
New Zealand	Wellington	2	15	1	1	Reading Cinemas
	Otago	3	15	2	1	Reading Cinemas, Rialto Cinemas(2)
	Auckland	2	15	2		Reading Cinemas, Rialto Cinemas(2)
	Canterbury	1	8	1		Reading Cinemas
	Southland	1	5		1	Reading Cinemas
	Bay of Plenty	1	5		1	Reading Cinemas
	Hawke's Bay	1	4		1	Reading Cinemas
	New Zealand Total	11	67	6	5
GRAND TOTAL		58	469	47	11

(1) The Company has a 33.3% unincorporated joint venture interest in a 16-screen cinema located in Mt. Gravatt, Queensland managed by Event Cinemas.

(2) The Company is a 50% joint venture partner in two (2) New Zealand Rialto cinemas.  We negotiate the commercial theatrical release terms of these cinemas and our joint venture partner, Event Cinemas, manages their day-to-day operations.

(3) Our New York statistics include one (1) managed cinema.

Real Estate

We engage in real estate development and the ownership, and rental or licensing to third parties of retail, commercial and live theater assets. We own the fee interests in all of our live theaters, and in 11 of our cinemas (as presented in the preceding table).  Our real estate business creates long-term value for our stockholders through the continuous improvement and development of our investment and operating properties, including our ETCs.

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Our real estate activities have historically consisted principally of:

· the ownership of fee or long-term leasehold interests in properties used in our cinema exhibition activities or which were acquired for the development of cinemas or cinema-based real estate development projects;

· the acquisition and development of fee interests in land;

· the licensing to production companies of our live theaters; and,

· the redevelopment of our existing fee-owned cinema or live theater sites to their highest and best use.

RECENT DEVELOPMENTS

During the nine months ended September 30, 2017, we recordedthe following one-time real estate transactions:

· the gain on sale for our Burwood property (disclosed in Note 5, Property & Equipment, to the consolidated financial statements); and,

· insurance proceeds related to our Courtenay Central property (disclosed in Note 18, Insurance Recoveries, to the consolidated financial statements).  

Compared to our cinema business, we expect lower near-term contribution from our real estate segment to our net results as we continue to execute value-creating projects to bring our real estate assets to full utilization.  The impact of one-time events noted above to our net results, along with other changes, is as follows:

	Quarter-Ended September 30, 2017				Nine-Month Ended September 30, 2017
(Dollars in thousands, except EPS)	After-tax Effect		EPS		After-tax Effect		EPS
Decrease in segment operating income	$	(2,198)	$	(0.10)	$	(799)	$	(0.03)
Impact of significant events for the period
Gain on sale of assets		--		--		6,300		0.27
Gain on insurance recoveries		--		--		8,684		0.38
Foreign currency gain on short-term advances		--		--		566		0.02
Other changes in non-segment items		(101)		(0.00)		(186)		(0.01)
Increase (Decrease) in Net Income	$	(2,299)	$	(0.10)	$	14,565	$	0.63

Recent developments in our two business segments (which include discussions on thesignificant events noted above), as well as corporate matters and changes in borrowing arrangements, are discussed below:

Cinema Exhibition

We continue to grow our worldwide cinema circuit.  On October 21, 2016, we opened Olino by Consolidated Theatres, our ninth theatre in Hawaii and our first to open in the state since 2001.Recently, we entered into an agreement to lease (“ATL”) for two (2) cinema locations in Australia, as follows:

· Traralgon, Victoria – inJune 2017, we entered into an agreement to lease a 5-screen complex  located in the City of Traralgon, which is situated in the Latrobe Shire within the Gippsland region of Victoria approx 1.5hours drive east of Melbourne.  The large Traralgon Central Business District site is being redeveloped into a mixed-use complex comprising dining, bar, hotel and cinema facilities.  We expect this new Reading cinema to commence operations during the fourth quarter of2019.

· South City Square, Brisbane– in March 2017, we entered into an agreement to lease for an 8-screen complex with an initial term of 15 years.  Located in the city of Brisbane, 7 minutes from the Central Business District and South of the Brisbane River, South City Square is a 5.1-acre (2.1-hectare) former industrial site which is being redeveloped into a major residential, hotel, retail and entertainment lifestyle complex.  Our cinema complex in this location will be one of two major anchor tenants for the approximately AU$600 million project; we anticipate this to commence operations in 2020.

In addition, our Board has approved the development of one(1) more new leasehold cinema in each ofAustraliaand New Zealand, which are anticipated to commence operations during 2019 and 2020.

We remain focused in certain areas of the mature cinema business where we believe we have growth potential and ultimately, provide long-term value to our stockholders.  These included the (i) upgrading of our existing cinemas and (ii) development of new cinemas to provide our customers with premium offerings, incorporating state-of-the-art presentation (including sound, lounges and bar service) and luxury seating. 

We continue to upgrade ourcinema food & beverage (“F&B”) offerings, having obtained liquor licenses for 25 of our current cinema locations in the U.S., Australia and New Zealand, with four (4) applications currently in-process in the U.S.   During the nine months ended September 30, 2017, we:

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· enhanced the screen format for two (2) cinemas in our global circuit (1 screen each in California, U.S. and New South Wales, Australia) to a TITAN XC feature; and,

· introduced our “Premium” dine-in bar service in three cinema locations in our Australian cinema circuit (for a total of 4 screens).

As of September 30, 2017, the upgrades to our theater circuit’s film exhibition technology and amenities (including upgraded F&B offerings) are summarized in the following table (excluding our managed cinema):

	Location Count	Screen Count
Screen Format
Digital (all cinemas in our theatre circuit)	57	465
IMAX	1	1
Titan XC and LUXE	12	13
Dine-in Service (for international operations)
Gold Lounge(1)	8	20
Premium(2)	8	14
Upgraded Food & Beverage menu (for U.S. operations)(3)	9	n/a
Premium Seating (recliner seating features)	15	62
Liquor Licenses Obtained(4)	25	n/a

(1)Gold Lounge: This is our "First Class Full Dine-in Service" in our Australian and New Zealand cinemas, which includes upgraded F&B menu (with alcoholic beverages), luxury recliner seating features (intimate 30-40 seat cinemas) and waiter service.

(2)Premium Service: This is our "Business Class Dine-in Service" in our Australian and New Zealand cinemas, which includes upgraded F&B menu (with alcoholic beverages) and luxury recliner seating features (less intimate 80-seat cinemas), but no waiter service.

(3)Upgraded Food & Beverage Menu: Contrary to our offerings in Australia and New Zealand, our upgraded F&B offerings in the U.S. cinemas are available in a common counter in each of our cinema locations rather than a dine-in service at each auditorium.  We have worked with  a renowned former Food Network executive and a talent-show winning chefs to curate a menu of locally inspired and freshly prepared items.

(4)Liquor Licenses: Licenses are applicable at each cinema location, rather than each theatre auditorium (except for our Hawaii licenses, where we are licensed for particular auditoriums).  For accounting purposes, we capitalize the cost of successfully purchasing or applying for liquor licenses meeting certain thresholds as an intangible asset due to long-term economic benefits derived on future sales of alcoholic beverages.

Innovative value pricing, improved food and beverage offerings and proactive social media engagement with our customers is a primary focus and to that end social media has been a powerful tool for connecting with and marketing to customers in real time. We continue to focus (i) upon our company wide customer service training program to improve staff productivity, and (ii) the quality of customer interactions with a view to improve our per capita transaction spend. Refining, enhancing and remixing our F&B offerings has been an ongoing initiative to minimize our cost of sales and improvethe inventory blend of our over-the-counter customer offerings.

Real Estate

We continue to work on the further development of our real estate assets.  Our progress in implementing our plan to develop a super market component for our Courtenay Central ETC in Wellington has suffered delays due to a late 2016 earthquake near that city.  However, this earthquake and the resultant insurance settlement related to damage suffered as a result of that earthquake, have provided us with the opportunity to substantially rethink our plans for that center, including the development of substantially more retail stores at the site.  Individual projects are discussed below:

· Union Square Redevelopment – we secured construction financing for our Union Square property in December 2016 and have entered into a guaranteed maximum price construction management agreement with an affiliate of CNY. Construction is now underway and we are currently proceeding on time and on budget. We anticipate the re-developed property will be ready for retail fit-out during the third quarter of 2018. Retail and office leasing interest to date has been strong and we are currently in discussions with quality tenants. This redevelopment will add approximately 23,000 square footage of rentable space to the current square footage of the building for an approximate total of 73,322 square feet of rentable space, inclusive of anticipated BOMA adjustments and subject to lease negotiations and the final tenant mix.  For the nine months ended September 30, 2017, we have invested $13.4 million in new capital expenditures relating to the Union Square re-development project, bringing our total investment in the project to $28.1  million (including direct costs incurred in obtaining the related construction financing).

· Cinema 1,2,3 Redevelopment–in June 2017, we entered into an exclusive dealing and pre-development agreement with our adjoining neighbors, 260-264 LLC, to jointly develop the properties, currently home to Cinemas 1,2,3 and Anassa Taverna. Under the terms of the agreement, Reading and 260-264 LLC will work together on a comprehensive mixed-use plan to co-develop the properties located on 3rd Avenue, between 59th Street and 60th Streets, in New York City. The parties have completed an initial feasibility study, analyzing various retail, entertainment and residentialuses for the siteand are working on the terms of a final agreement for the development of the combined property.

· Newmarket Expansion – in the third quarter of 2016, we commenced the construction on our expansion project at our Newmarket shopping center in Brisbane, Australia, with a projected opening in December 2017. This expansion project includes the addition of an eight-screen Reading Cinemas with TITAN LUXE,approximately 10,170 square feet of additional F&B retail space and a 26

further  124 car parking spaces.  We have entered into heads-of agreement to leaseall of this newspace.We invested$14.5million of capital expenditures during the first nine months of 2017, bringing the total investment in the project to $17.0 million.

· Courtenay Central Redesign/Expansion/Temporary Closureand the related demolition of adjacent parking building  –we continue to make progress on our supermarket development project at our Courtenay Central ETC in Wellington, New Zealand.  On November 14, 2016, Wellington experienced a severe 7.8 magnitude earthquake. That earthquake rendered our Tory Street parking building unsafe and ultimately led to the demolition of that building and the temporary closure of our adjacent ETC, which reopened on March 29, 2017. Our supermarket tenant remains committed to the site but has delayed construction in order to upgrade to a “premium” offering. Under the agreement to lease, our tenant is responsible for any increase in our costs resulting from those design changes. In light of the demolition of the existing parking building (a major portionof the cost of which is covered by insurance), we are undertaking a comprehensive redesign analysis, intended to increase the amount of retail leasable space at the center and to better coordinate the interface between the parking building and the remainder of the center.  While we work on a redesign of the property, we have activated the building with several temporary“pop-up”retail offerings.We are currently working on plans and in discussions with tenants regarding the construction of additional retail space at the site.

In April 2017, our Insurer completed the examination of our insurance claim with respect to the parking building and shopping center earthquake damage and related business interruption.We received a final settlement of US$20.0 million in May 2017, reaching the policy maximum of US$25.0 million for the loss event.  As a result, we recorded a gain of $9.2 million (NZ$12.7 million) representing excess insurance recoveries over the recorded property value during the second quarter ended June 30, 2017.  This amount is recorded net of demolition costs incurred and an allocation to lost profits, covered within the same insurance policy.

As previously disclosed in our Form 10-Q for the 1st Quarter of 2017, the total closure of our Courtenay Central, Wellington, New Zealand location had a significant impact on the performance of both our Cinema and Real Estate divisions during the quarter ended March 31, 2017, resulting in reduction in our overall profitability by $1.1 million (NZ$1.5 million) and decline in basic EPS by $0.05 compared to the same period of 2016.  This performance decline has been effectively recovered through business interruption insurance.  During the quarter ended June 30, 2017, we recorded a gain on business interruption recoveries of $1.5 million (NZ$2.1 million), presented as part of the relevant segment revenue lines in our Consolidated Statement of Income for that quarter.  While the earthquake has opened up possibilities to reconfigure our Courtenay Central property, the gains recorded during the quarter ended June 30, 2017 do not compensate for the lost time value of the delay of our development plan.

Refer to Note 18, Insurance Recoveries, in our consolidated financial statements for further discussions on the allocation of insurance proceeds and the determination of the insurance gain.

· Manukau Land Rezoning–in August 2016, the Auckland City Council re-zoned 64.0 acres of our 70.4 acre property in Manukau from agricultural to light industrial use. The remaining 6.4 acres were already zoned for heavy industrial use. Now that our zoning enhancement goal is achieved, we are reviewing our options with respect to the value realization opportunities and commercial exploitation of this asset.  We see this property as a future value realization opportunity for us.  This tract is adjacent to the Auckland Airport which has recently been expanding towards our property. 

· Settlement ofFraser’s apportioned sale of Burwood Property–Frasers, the buyer of our Burwood Property, completed the sale of 6.0 acres of the total 50.6 acre undeveloped parcel to a third party in June 2017.As a result, we collected an amount equal to$16.5 million (AU$21.8 million) representing 90% of the net sales price of that parcel sale (as contemplated in the sale agreement), and thus, we recorded the fullgain on our original sale transaction of $9.4 million (AU$12.5 million) during the second quarter ended June 30, 2017.  The remaining receivable of $28.8 million (AU$36.7 million)is due on or before December 31, 2017.

· Occupancy of New Corporate Headquarters Building  –during February 2017, we relocated our corporate headquarters into the 24,000 square foot Culver City office building that we purchased in April 2016. We currently use approximately 50% of the leasable area for our corporate headquarters and intend to lease, over time, the remainder to unaffiliated third parties. We purchased the property for $11.2 million in cash and financed the property with a  $9.9 million 10-year, fixed-rate mortgage loan.

Corporate Matters

On March 2, 2017, our Board of Directors approved the following:

· Three Year Business Strategy, which focuses on the continued development of new cinemas in the United States, Australia and New Zealand, the continued improvement of our existing cinemas to elevate the guest experience, presentation and food and beverage program, and the continued re-development of our various real estate assets (including our Union Square and Cinemas 1,2,3 properties in New York City and our Australian and New Zealand ETCs).

· $25-million Stock Repurchase Program.  The prior repurchase program was completed at the end of 2016.  The newly approved 27

repurchase program allows Reading to repurchase its Class A Common Shares from time to time in accordance with the requirements of the Securities and Exchange Commission on the open market, in block trades and in privately negotiated transactions, depending on market conditions and other factors. The Board’s authorization is for a two-year period, expiring March 1, 2019, or earlier should the full repurchase authorization be used.

Our Financing Strategy

Our treasury management is focused on concerted cash management using cash balances to reduce debt.  We have used cash generated from operations and other excess cash, to the extent not needed for any capital expenditures, to paydown our loans and credit facilities providing us some flexibility on our available loan facilities for future use and thereby, reducing interest charges. On a periodic basis, we review the maturities of our borrowing arrangements and negotiate for renewals and extensions where necessary in the current circumstances.

Over the past twelve months, we:

(i) extended the maturity, in April 2017, of the NZ$35.0 million (US$24.5 million) general/non-construction credit line of our Westpac Corporate Credit Facility to December 31, 2018, from March 31, 2018.  Subsequently, in June 2017, we fully paid our loan balance using the cash received from insurance settlement relating to Courtenay Central property damage;

(ii) extended  the maturity date of our $5.0 million Bank of America line of credit for two years in October 2016;

(iii) replaced the funding that we used to purchase the new U.S. Corporate Headquarters in Los Angeles through a new $9.9 million loan with 10-year repayment term in December 2016 and June 2017; and,

(iv) closed in December 2016 the $57.5 million 3-year term construction financing for our Union Square redevelopment project, $8.0 million of which was advanced to repay the existing $8.0 million Union Square mortgage loan with East West Bank, originally scheduled to mature in July 2017.

Refer to our 2016 Form 10-K for more details on our cinema and real estate segments.

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RESULTS OF OPERATIONS

The table below summarizes the results of operations for each of our principal business segments along with the non-segment information for thequarter and nine months ended September 30, 2017 and September 30, 2016:

		Quarter Ended				% Change			Nine Months Ended				% Change
(Dollars in thousands)		September 30, 2017		September 30, 2016		Fav/(Unfav)			September 30, 2017		September 30, 2016		Fav/(Unfav)
SEGMENT RESULTS
	Revenue
	Cinema exhibition	$	62,059	$	67,825		(9)	%	$	196,062	$	192,579		2	%
	Real estate		6,036		5,390		12	%		17,467		15,961		9	%
	Inter-segment elimination		(2,008)		(1,900)		(6)	%		(5,575)		(5,518)		(1)	%
	Total revenue		66,087		71,315		(7)	%		207,954		203,022		2	%
	Operating expense
	Cinema exhibition		(51,598)		(54,003)		4	%		(159,087)		(154,383)		(3)	%
	Real estate		(2,881)		(2,296)		(25)	%		(7,258)		(6,628)		(10)	%
	Inter-segment elimination		2,008		1,900		6	%		5,575		5,518		1	%
	Total operating expense		(52,471)		(54,399)		4	%		(160,770)		(155,493)		(3)	%
	Depreciation and amortization
	Cinema exhibition		(2,951)		(3,075)		4	%		(8,867)		(8,875)		--	%
	Real estate		(1,079)		(954)		(13)	%		(2,936)		(2,596)		(13)	%
	Total depreciation and amortization		(4,030)		(4,029)		--	%		(11,803)		(11,471)		(3)	%
	General and administrative expense
	Cinema exhibition		(807)		(1,021)		21	%		(2,527)		(2,785)		9	%
	Real estate		(527)		(385)		(37)	%		(1,673)		(893)		(87)	%
	Total general and administrative expense		(1,334)		(1,406)		5	%		(4,200)		(3,678)		(14)	%
	Segment operating income
	Cinema exhibition		6,703		9,726		(31)	%		25,581		26,536		(4)	%
	Real estate		1,549		1,755		(12)	%		5,600		5,844		(4)	%
	Total segment operating income	$	8,252	$	11,481		(28)	%	$	31,181	$	32,380		(4)	%
NON-SEGMENT RESULTS
	Depreciation and amortization expense		(108)		(102)		nm			(321)		(295)		nm
	General and administrative expense		(4,506)		(4,769)		6	%		(13,931)		(14,693)		5	%
	Interest expense, net		(1,663)		(1,553)		(7)	%		(5,310)		(5,190)		(2)	%
	Equity earnings of unconsolidated joint ventures		136		200		nm			654		808		nm
	Gain on sale of assets		--		--		--	%		9,417		393		> 100	%
	Gain on insurance recoveries		--		--		--	%		9,217		--		100	%
	Other income/(expense)		89		(12)		nm			937		(115)		nm
	Income before income taxes		2,200		5,245		(58)	%		31,844		13,288		> 100	%
	Income tax expense		(742)		(1,328)		44	%		(8,291)		(4,222)		(96)	%
Net income			1,458		3,917		(63)	%		23,553		9,066		> 100	%
	Less: net income/(loss) attributable to noncontrolling interests		(98)		62		nm			(66)		12		nm
Net income attributable to RDI common stockholders		$	1,556	$	3,855		(60)	%	$	23,619	$	9,054		> 100	%
Basic EPS		$	0.07	$	0.17		(60)	%	$	1.02	$	0.39		> 100	%

“nm – not meaningful”

Consolidated and Non-Segment Results:

3rdQuarter and Nine-Month Net Results

Revenue for the quarter ended September 30, 2017decreased by  7%, or $5.2 million, to $66.1 million and net income attributable to RDI common stockholders decreased by60%, or $2.3 million,to $1.6 million.  EPS for the quarter ended September 30, 2017 decreased by $0.10 to $0.07 from the prior-year quarter, mainly attributable to$2.2 million decrease (net of tax effect) in cinema segment operating income in line with the global cinema business performance.

Revenue for the nine months ended September 30, 2017 increased by2%, or $4.9 million, to $208.0 million and net income

29

attributable to RDI common stockholders increased by $14.6 million, to $23.6 million.  EPS for the first nine months of 2017 increased by $0.63 to $1.02 from the prior-year period, mainly attributable to the following:  (i) $799,000decrease (net of tax effect) in segment operating income due to lower operating results, which decreased our basic EPS by $0.03, (ii) $566,000increase relating to foreign currency gains on short-term advances, improving our basic EPS by $0.02,  (iii) $6.3million increase in gain (net of tax effect) from the sale of Burwood asset (net of gain on Taupo sale during Q1 2016), contributing a $0.27increase in our basic EPS, and (iv) $8.7million gain (net of tax effect) on insurance recoveries for Courtenay Central (net of business interruption recoveries), enhancing our basic EPS by $0.38.

Non-Segment General & Administrative Expenses

Non-segment general and administrative expense for the quarter and nine months ended September 30, 2017 compared to the same period of the prior year decreased by 6% ($263,000) and 5% ($762,000), respectively. This decrease mainly relates to (i) additional expenses paid in 2016in connection with the 2015 year-end auditrelating to prior years’ income tax matters (ii) reduction in variable compensation costs  (attributable to reversals of prior year incentive compensation accrualsnot deemed necessary).  These favorable changes were offset by higher legal expenses incurred on the Derivative Litigation, the Cotter Employment Arbitration and other Cotter litigation matters during the quarter and nine months ended September 30, 2017 which totaled $82,000 and $1.1 million, respectively.  In 2016, expense related to the defense of the Derivative Litigationwas substantially reimbursed from the Company’s Directors’ and Officers’ (“D&O”) Insurance Program.

Gain on Sale of Assets

The $9.4 million capital gain recognized during the 2nd quarter of 2017 was pertaining to our full recognition of the transaction gain triggered by the additional payment from Frasers, the buyer of our Burwood property in Australia.  During the 1st quarter of 2016, we recognized a gain of $393,000 (NZ$585,000) relating to our Taupo property in New Zealand.

Gain on Insurance Recoveries

During the 2nd quarter of 2017, we recognized $9.2 million gain as a result of the final insurance settlement relating to the earthquake damage on our Courtenay Central parking structure (excluding business interruption insurance recoveries).

Income Tax Expense

Income tax expense for the quarter ended September 30, 2017 decreased by $586,000 compared to prior-year quarter mainly due to decrease in pre-tax income.  Income tax expense for the nine months ended September 30, 2017 increased by $4.1 million compared to prior-year nine months period.  The increase is primarily due to increase in pretax income, offset by non-taxable insurance proceeds received in 2017 relating to our demolished Courtenay Central parking structure in Wellington, New Zealand.

Business Segment Results

At September 30, 2017, we owned and operated 54 cinemas with 436 screens, had interests in certain unconsolidated joint ventures that own an additional 3 cinemas with 29 screens and managed 1 cinema with 4 screens.  During the period, we also (i) owned and operated four ETCs located in Belmont (a suburb of Perth),  Auburn (a suburb of Sydney)  and Townsville in Australia and Wellington in New Zealand, (ii) owned the fee interests in three developed commercial properties in Manhattan and Chicago improved with live theaters comprising six stages and ancillary retail and commercial space (our fourth live theatre was closed at the end of 2015 as part of the Union Square property redevelopment), (iii) owned a 75% managing member interest in a limited liability company which in turn owns the fee interest in Cinemas 1,2,3, (iv) held for development an additional four parcels aggregating approximately 70.4 acres located in New Zealand, (v) owned a  50% managing member interest in a limited liability company which in turn owns a 202-acre property that is zoned approximately 150 acres for single-family residential use (maximum  of 550 homes) and approximately 50 acres for high density mixed use in the U.S.  and (vi) owned approximately 200acres in Pennsylvania and New Jersey from our legacy business. 

The Company transacts business in Australia and New Zealand and is subject to risks associated with changing foreign currency exchange rates. The Australian and New Zealand Dollars both strengthened against the US Dollar by 4% and 1%, respectively, comparing the average exchange rate movements during the third quarter of 2017 to those during the same period of 2016.  Similarly, when comparing the first nine months of 2017 to the equivalent prior-year period, both the Australian and New Zealand Dollar strengthened against the US Dollar by 3%.  This had the effect of increasing the value of our Australian and New Zealand assets, liabilities, revenues and expenses. Refer to Note 3 – Operations in Foreign Currency for further information.

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Cinema Exhibition

The following table details our cinema exhibition segment operating results for the quarterand nine months ended September 30, 2017 and September 30, 2016, respectively:

			Quarter Ended						Nine Months Ended						% Change - Fav/(Unfav)
(Dollars in thousands)			September 30, 2017		% of Revenue	September 30, 2016		% of Revenue	September 30, 2017		% of Revenue	September 30, 2016		% of Revenue	Quarter Ended		Nine Months Ended
REVENUE
	United States	Admissions revenue	$	19,760	32%	$	21,925	32%	$	63,730	33%	$	64,704	34%	(10)	%		(2)	%
		Food & beverage revenue		9,752	16%		10,146	15%		31,059	16%		30,441	16%	(4)	%		2	%
		Advertising and other revenue		2,687	4%		2,130	3%		7,069	4%		6,130	3%	26	%		15	%
			$	32,199	52%	$	34,201	50%	$	101,858	52%	$	101,275	53%	(6)	%		1	%
	Australia	Admissions revenue	$	14,232	23%	$	16,360	24%	$	46,261	24%	$	44,103	23%	(13)	%		5	%
		Food & beverage revenue		6,874	11%		7,361	11%		21,789	11%		20,018	10%	(7)	%		9	%
		Advertising and other revenue		1,796	3%		1,830	3%		5,234	3%		4,847	3%	(2)	%		8	%
			$	22,902	37%	$	25,551	38%	$	73,284	37%	$	68,968	36%	(10)	%		6	%
	New Zealand	Admissions revenue	$	4,423	7%	$	5,381	8%	$	13,164	7%	$	15,065	8%	(18)	%		(13)	%
		Food & beverage revenue		2,010	3%		2,238	3%		5,677	3%		6,098	3%	(10)	%		(7)	%
		Advertising and other revenue		525	1%		454	1%		2,080	1%		1,173	1%	16	%		77	%
			$	6,958	11%	$	8,073	12%	$	20,921	11%	$	22,336	12%	(14)	%		(6)	%
	Total revenue		$	62,059	100%	$	67,825	100%	$	196,063	100%	$	192,579	100%	(9)	%		2	%
OPERATING EXPENSE
	United States	Film rent and advertising cost	$	(10,327)	17%	$	(11,769)	17%	$	(33,638)	17%	$	(34,637)	18%	12	%		3	%
		Food & beverage cost		(1,992)	3%		(1,856)	3%		(6,144)	3%		(5,372)	3%	(7)	%		(14)	%
		Occupancy expense		(6,919)	11%		(6,748)	10%		(20,753)	11%		(19,769)	10%	(3)	%		(5)	%
		Other operating expense		(10,307)	17%		(9,422)	14%		(30,598)	16%		(27,903)	14%	(9)	%		(10)	%
			$	(29,545)	48%	$	(29,795)	44%	$	(91,133)	46%	$	(87,681)	46%	1	%		(4)	%
	Australia	Film rent and advertising cost	$	(6,297)	10%	$	(7,796)	11%	$	(21,276)	11%	$	(20,823)	11%	19	%		(2)	%
		Food & beverage cost		(1,435)	2%		(1,584)	2%		(4,619)	2%		(4,172)	2%	9	%		(11)	%
		Occupancy expense		(3,774)	6%		(3,571)	5%		(11,148)	6%		(10,412)	5%	(6)	%		(7)	%
		Other operating expense		(5,156)	8%		(5,360)	8%		(15,313)	8%		(14,822)	8%	4	%		(3)	%
			$	(16,662)	27%	$	(18,311)	27%	$	(52,356)	27%	$	(50,229)	26%	9	%		(4)	%
	New Zealand	Film rent and advertising cost	$	(2,054)	3%	$	(2,512)	4%	$	(6,121)	3%	$	(6,929)	4%	18	%		12	%
		Food & beverage cost		(484)	1%		(527)	1%		(1,329)	1%		(1,453)	1%	8	%		9	%
		Occupancy expense		(1,222)	2%		(1,252)	2%		(3,347)	2%		(3,575)	2%	2	%		6	%
		Other operating expense		(1,634)	3%		(1,606)	2%		(4,801)	2%		(4,516)	2%	(2)	%		(6)	%
			$	(5,394)	9%	$	(5,897)	9%	$	(15,598)	8%	$	(16,473)	9%	9	%		5	%
	Total operating expense		$	(51,601)	83%	$	(54,003)	80%	$	(159,087)	81%	$	(154,383)	80%	4	%		(3)	%
DEPRECIATION, AMORTIZATION, GENERAL AND ADMINISTRATIVE EXPENSE
	United States	Depreciation and amortization	$	(1,391)	2%	$	(1,547)	2%	$	(4,261)	2%	$	(4,472)	2%	10	%		5	%
		General and administrative expense		(570)	1%		(818)	1%		(1,674)	1%		(2,059)	1%	30	%		19	%
			$	(1,961)	3%	$	(2,365)	3%	$	(5,935)	3%	$	(6,531)	3%	17	%		9	%
	Australia	Depreciation and amortization	$	(1,117)	2%	$	(1,092)	2%	$	(3,284)	2%	$	(3,153)	2%	(2)	%		(4)	%
		General and administrative expense		(227)	0%		(217)	0%		(832)	0%		(748)	0%	(5)	%		(11)	%
			$	(1,344)	2%	$	(1,309)	2%	$	(4,116)	2%	$	(3,901)	2%	(3)	%		(6)	%
	New Zealand	Depreciation and amortization	$	(443)	1%	$	(436)	1%	$	(1,322)	1%	$	(1,249)	1%	(2)	%		(6)	%
		General and administrative expense		(7)	0%		14	0%		(22)	0%		21	0%	nm			nm
			$	(450)	1%	$	(422)	1%	$	(1,344)	1%	$	(1,228)	1%	(7)	%		(9)	%
	Total depreciation, amortization, general and administrative expense		$	(3,755)	6%	$	(4,096)	6%	$	(11,395)	6%	$	(11,660)	6%	8	%		2	%
OPERATING INCOME - CINEMA
	United States		$	693	1%	$	2,041	3%	$	4,790	2%	$	7,063	4%	(66)	%		(32)	%
	Australia			4,896	8%		5,931	9%		16,812	9%		14,838	8%	(17)	%		13	%
	New Zealand			1,114	2%		1,754	3%		3,979	2%		4,635	2%	(36)	%		(14)	%
	Total Cinema operating income		$	6,703	11%	$	9,726	14%	$	25,581	13%	$	26,536	14%	(31)	%		(4)	%

 “nm – not meaningful”

31

3rdQuarter Results:

Segment operating income

Cinema segment operating incomedecreased by 31%,  or$3.0 million, to $6.7 millionfor the quarter ended September 30, 2017 compared to September 30, 2016, primarily driven by loweradmissions and food & beverage (“F&B”) revenuesacross our three geographic markets,  partially offset by favorable foreign currency movements of our foreign operations.

This has been a difficult quarter for the cinema exhibition industry due the weaker film slatecompared to the strong box office in the prior year period, resulting in lower revenues and profitability.  Both the commercial and specialty box office were down considerably against the prior year.  While the film slate in the first two months of the current third quarter was disappointing, September 2017, which is typically the weakest month of the year, showed a return to strength with some superior product.  Our USand Australia box office revenues performed well relative to the industry during the third quarter.  Please refer below for further details.

Revenue

Cinema revenue decreased by 9%, or $5.8 million, to $62.1 million for the quarter ended September 30, 2017 compared to September 30, 2016, primarily attributable to decreases inattendance and average ticket prices (”ATP”) in our operating jurisdictions.  Here are the changes in our cinema revenue markets:

· Thequarter revenue in the United States decreased by6%, or $2.0 million,  due to a  12% decrease in attendance but slightincrease in ATP.  

· Australia’s cinema revenue decreasedby 10%, or $2.6 million, primarily due toa  14% decrease in attendanceand slight decrease in ATP.

· In New Zealand, our cinema revenuedecreased by 14%, or $1.1 million,  as a result of the 14% decrease in attendance and  decrease in ATP. 

Operating expense

Operating expense for thequarterended September 30, 2017decreased by4%,  or$2.4 million,primarily attributable to (i) lower film rent due to lower admissions revenue and (ii)  lowerF&Bcosts,  partially offset by the favorable impact of foreign currency movements.

Operating expense as a percentage of gross revenue increased by 3%, to 83%, due mainly to comparable fixed costs (mainly rent expense on our leased cinema locations) covering lower revenues.  

Depreciation,  amortization, general and administrative expense

Depreciation, amortization, general and administrative expense for the quarter ended September 30, 2017decreased by8%, or  $341,000,  mainly due to a reduction in doubtful accounts expense.

Nine-Month Results:

Segment operating income

Cinema segment operating incomedecreased by 4%,  or $955,000, to $25.6 million for the nine months ended September 30, 2017 compared to September 30, 2016, primarily driven by lower admissions and F&B revenues for our US and New Zealand operations.  These were offset by higher operating performance of our Australia market and the favorable foreign currency movements of our foreign operations. Please refer below for further detailed explanation.

Revenue

Cinema revenue increased by 2%, or $3.5 million, to $196.1 million for the nine months ended September 30, 2017 compared to September 30, 2016, primarily attributable to higher attendance in our Australian operations and business interruption insurance proceeds for Courtenay Central in New Zealand recognized during the second quarter.  Below are the changes in our cinema revenues:

· The revenue in the United States remained flat with a minimal increase by 1%, or $583,000,  due to the offsetting impact of a  5% decrease in attendance and a  4% increase in ATP.  

· Australia’s cinema revenue increased by 6%, or $4.3 million, primarily due to  a7% increase in attendance, offset by a  decrease in ATP. 

· In New Zealand, cinema revenue decreased by 6%, or $1.4 million, mainly due to 10% reduction in attendance and a modest decrease in ATP and the impact of the temporary closure of the Courtenay Central cinemas during the 1st Quarter of 2017 (which re-opened in late March 2017).  These were offset, in part, by the business interruption insurance proceeds recognized in the 2nd Quarter of 2017. 

32

Operating expense

Operating expense for the first nine months of 2017 increased by  3%, or  $4.7 million, primarily attributable to (i) higher film rent and advertising costs due to higher admissions revenue, and (ii) higher F&Bcosts. 

Operating expense as a percentage of gross revenue remained stable at 80-81% range, in line with our expectations.  

Depreciation,  amortization, general and administrative expense

Depreciation, amortization, general and administrative expense for the nine months ended September 30, 2017remained consistent, with a minimal decrease of 2%, or $265,000.

Real Estate

The following table details our real estate segment operating results for the quarterand nine months ended September 30, 2017 and September 30, 2016, respectively:

			Quarter Ended						Nine Months Ended						% Change - Fav / (Unfav)
(Dollars in thousands)			September 30, 2017		% of Revenue	September 30, 2016		% of Revenue	September 30, 2017		% of Revenue	September 30, 2016		% of Revenue	Quarter Ended		Nine Months Ended
REVENUE
	United States	Live theater rental and ancillary income	$	1,080	18%	$	623	12%	$	2,926	17%	$	2,119	13%	73	%	38	%
		Property rental income		99	2%		108	2%		297	2%		304	2%	(8)	%	(2)	%
				1,179	20%		731	14%		3,223	18%		2,423	15%	61	%	33	%
	Australia	Property rental income		3,794	63%		3,480	65%		11,228	64%		10,111	63%	9	%	11	%
	New Zealand	Property rental income		1,063	18%		1,179	22%		3,016	17%		3,428	21%	(10)	%	(12)	%
	Total revenue		$	6,036	100%	$	5,390	100%	$	17,467	100%	$	15,962	100%	12	%	9	%
OPERATING EXPENSE
	United States	Live theater cost	$	(270)	4%	$	(75)	1%	$	(834)	5%	$	(1,167)	7%	(260)	%	29	%
		Property cost		(314)	5%		(118)	2%		(493)	3%		(163)	1%	(166)	%	(202)	%
		Occupancy expense		(169)	3%		(253)	5%		(487)	3%		(473)	3%	33	%	(3)	%
				(753)	12%		(446)	8%		(1,814)	10%		(1,803)	11%	(69)	%	(1)	%
	Australia	Property cost		(666)	11%		(887)	16%		(2,161)	12%		(1,945)	12%	25	%	(11)	%
		Occupancy expense		(677)	11%		(511)	9%		(1,733)	10%		(1,599)	10%	(32)	%	(8)	%
				(1,343)	22%		(1,398)	26%		(3,894)	22%		(3,544)	22%	4	%	(10)	%
	New Zealand	Property cost		(635)	11%		(298)	6%		(1,111)	6%		(809)	5%	(113)	%	(37)	%
		Occupancy expense		(150)	2%		(155)	3%		(439)	3%		(472)	3%	3	%	7	%
				(785)	13%		(453)	8%		(1,550)	9%		(1,281)	8%	(73)	%	(21)	%
	Total operating expense		$	(2,881)	48%	$	(2,297)	43%	$	(7,258)	42%	$	(6,628)	42%	(25)	%	(10)	%
DEPRECIATION, AMORTIZATION, GENERAL AND ADMINISTRATIVE EXPENSE
	United States	Depreciation and amortization	$	(152)	3%	$	(91)	2%	$	(383)	2%	$	(252)	2%	(67)	%	(52)	%
		General and administrative expense		(219)	4%		(72)	1%		(676)	4%		(69)	0%	(204)	%	(880)	%
				(371)	6%		(163)	3%		(1,059)	6%		(321)	2%	(128)	%	(230)	%
	Australia	Depreciation and amortization	$	(684)	11%	$	(600)	11%	$	(1,936)	11%	$	(1,617)	10%	(14)	%	(20)	%
		General and administrative expense		(322)	5%		(279)	5%		(995)	6%		(774)	5%	(15)	%	(29)	%
				(1,006)	17%		(879)	16%		(2,931)	17%		(2,391)	15%	(14)	%	(23)	%
	New Zealand	Depreciation and amortization		(243)	4%		(262)	5%		(616)	4%		(727)	5%	7	%	15	%
		General and administrative expense		14	0%		(34)	1%		(3)	0%		(51)	0%	141	%	94	%
				(229)	4%		(296)	5%		(619)	4%		(778)	5%	23	%	20	%
	Total depreciation, amortization, general and administrative expense		$	(1,606)	27%	$	(1,338)	25%	$	(4,609)	26%	$	(3,490)	22%	(20)	%	(32)	%
OPERATING INCOME - REAL ESTATE
	United States		$	55	1%	$	122	2%	$	350	2%	$	299	2%	(55)	%	17	%
	Australia			1,445	24%		1,203	22%		4,403	25%		4,176	26%	20	%	5	%
	New Zealand			49	1%		430	8%		847	5%		1,369	9%	(89)	%	(38)	%
	Total real estate operating income		$	1,549	26%	$	1,755	33%	$	5,600	32%	$	5,844	37%	(12)	%	(4)	%

 “nm – not meaningful”

33

3rdQuarter Results:

Segment operating income

Real estatesegment operating incomedecreased by12%, or$206,000, to $1.5 million for the quarter ended September 30, 2017 compared to September 30, 2016, primarily attributable to increases in our operating expenses and depreciation, amortization and general & administrative expense, offset bythe STOMP settlementproceeds received ($468,000) during the quarter.  Please refer below for further explanation.

Revenue

Real estate revenue for the quarterincreased by12%, or$646,000, mainly driven by the additional instalment from STOMP ($468,000)as part of the legal settlement and increase in property rental income for Australia due to new tenancies on our recently completed buildings in Auburn and Newmarket.We would expect our Real Estate business to benefit from incremental rental income once we lease the remaining 50% unoccupied space of our LA Corporate Headquarters building to third parties.

Operating expense

Operating expense for the quarterended September 30, 2017increased by 25%, or $584,000,  due to the following:

· for the U.S, operating expenses on our Corporate Headquarters in Los Angeles; and,

· for New Zealand, set-up costs relating to our Courtenay Courtyard pop-up retail stores.

Depreciation,  amortization, general and administrative expense

Depreciation, amortization, general and administrative expense for the quarter ended September 30, 2017increased by20%, or$268,000, primarily driven by (i) increased depreciation expense due to capitalenhancements and (ii) increased salary costs due to staff expansion and travel expenses as we continue to develop our Real Estate capacity in Australia and New Zealand.

Nine-Month Results:

Segment operating income

Real estatesegment operating incomedecreased slightly by 4%, or $244,000, to $5.6 million for the nine months ended September 30, 2017 compared to September 30, 2016, primarily attributable to increases in our operating and general & administrative expenses relating to our Corporate Headquarters in Los Angeles and expansion of our real estate activities in Australia and New Zealand.  These were offset by the :(i) gain on insurance recoveries from our business interruption claim for Courtenay Central ETC,  and (ii) the STOMP settlement instalment.Please refer below for further explanation.

Revenue

Real estate revenue for the nine months of 2017 increased by 9%, or  $1.5 million, mainly driven by the following:

· for the U.S., instalment payments from STOMP as part of our 2016 legal settlement ($1.1 million);

· for Australia, increase in rental revenue due to new tenancies on our recently completed buildings in Auburn and Newmarket: and,

· for New Zealand, the decrease in property rental income for New Zealand operations due to the temporary closure of our Courtenay Central ETC and the demolition of the adjacent parking, offsetby the relatedinsurance recoveries received during the second quarter. 

Operating expense

Operating expense for the nine months ended September 30, 2017 increased by 10%, or $630,000,  due tothe following:

· for the U.S, the operating expenses on our Corporate Headquarters in Los Angeles; and,

· for New New Zealand, set-up costs relating to our Courtenay Courtyard pop-up retail stores.

Depreciation,  amortization, general and administrative expense

Depreciation, amortization, general and administrative expense for the nine months ended September 30, 2017 increased by 32%, or $1.1 million, primarily driven by (i) increased depreciation expense due to capital enhancements and (ii) increased salary costs due to staff expansion and travel expenses as we continue to develop our Real Estate capacity in Australia and New Zealand.

34

LIQUIDITY AND CAPITAL RESOURCES

Our cinema exhibition business plan is to continue to identify, develop, and acquire cinema properties, where reasonably available, that allow us to leverage our cinema expertise and technology over a larger operating base.  In addition, we are refurbishing our cinema properties where feasible, and adding (1) premium projection and sound presentation, (2) recliner seating when appropriate, and (3)  enhanced food and beverage options when possible.Our real estate business plan is to re-develop our existing property assets, to be sensitive to opportunities to convert our entertainment assets to higher and better uses, or, when appropriate, to dispose of such assets.  In addition, we review opportunities to monetize our assets where such action could lead to a financially acceptable outcome.  We also continue to investigate potential synergistic acquisitions that may not readily fall into either of our two cinema or real estate segments. 

Liquidity risk is the risk relating to our ability to meet our financial obligations when they come due. In today’s environment, our financial obligations arise mainly from capital expenditure needs,  working capital requirements, anddebt servicing requirements. We manage the liquidity risk by ensuring our ability to generate sufficient cash flows from operating activities and to obtain adequate, reasonable financing and/or to convert non-performing or non-strategic assets into cash.

The changes in cash and cash equivalents are discussed as follows:

	Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		% Change
Net cash provided by operating activities	$	8,755	$	14,516	(40)	%
Net cash used in investing activities		(13,196)		(35,509)	(63)	%
Net cash (used in)/provided by financing activities		(5,368)		10,883	149	%
Effect of exchange rate changes on cash and cash equivalents		(312)		388	(> 100)	%
Decrease in cash and cash equivalents	$	(10,121)	$	(9,722)	4	%

Operating activities

Cash provided by operating activities for the first nine months of 2017decreased by $5.8 million, to $8.8,  primarily driven byhigher cash outflows during the quarter relating to the following operational expenses:  (i) income taxes paid ($2.1 million), (ii) loan interest payments ($1.4 million), (iii) film rental payments ($1.2 million) and (iv) litigation costs ($1.1 million).

Investing activities

Cash used ininvesting activities during the nine months ended September 30, 2017decreased by$22.3 million compared to same period of 2016, to net cash usedof$13.2 million, primarily due to(i) final insurance settlement relating to our Courtenay Central earthquake damage ($18.4 million, net of business interruption recoveries), and (ii) partial payment from Frasers relating to the sale of our Burwood property ($16.6 million).  These were offset by (i) expenditures relating to thedemolition and disposal of the parking building adjacent to our Courtney Central ETC in Wellington, New Zealand ($3.5 million), and (ii) increase in capital expenditures relating to our real estate development program and enhancements to our existing cinemas ($8.8 million).  

Financing Activities

The $5.4 million net cash usedin financing activities during the nine months ended September 30, 2017 was primarily related to (i) $6.5 million in stock repurchases, and (ii)$1.1 million of newborrowings (net of $46.6million of repayments).

We manage our cash, investments and capital structure so we are able to meet the short-term and long-term obligations of our business, while maintaining financial flexibility and liquidity. We forecast, analyze and monitor our cash flows to enable investment and financing within the overall constraints of our financial strategy.

At  September 30, 2017, our consolidated cash and cash equivalents totaled $8.9 million.  Of this amount, $2.3 million and $1.1 million were held by our Australian and New Zealand subsidiaries, respectively.  Our intention is to indefinitely reinvest Australian earnings but not indefinitely reinvest New Zealand earnings. If the Australian earnings were used to fund U.S. operations, they would be subject to additional income taxes upon repatriation.

We have historically funded our working capital requirements, capital expenditures, investments in the acquisition of individual properties primarily from internally generated cash flows and lines of credit.  As noted in the succeeding table, we have $67.8 million unused/unrestricted capacity of credit facilities at September 30, 2017.  In addition, we have $49.5 million and $13.0 million (NZ$18.0 million) unused capacity for Union Square development uses and construction funding for New Zealand, respectively.The Minetta & Orpheum Theatres Loan will become due within one year.  Currently, we are negotiating with our lender to renew this borrowing on a long-term basis. 

As part of our operating cycle, we utilize cash collected from (i) our cinema business when selling tickets and food and beverage items,

35

and (ii) rental income typically received in advance, to reduce our long term borrowings and realize savings on interest charges.  We then settle our operating expenses generally with a lag within traditional trade terms.  This generates a temporary working capital deficit.  As discussed previously, we review the maturities of our borrowings and negotiate for renewals and extensions, as necessary for liquidity purposes.  We believe the cash flow generated from our operations coupled with our ability to renew loans when due will provide sufficient liquidity in the upcoming year.

The table below presents the changes in our total available resources (cash and borrowings), debt-to-equity ratio, working capital and other relevant information addressing our liquidity for the nine months ended September 30, 2017 and preceding four years:

	As of and for the 9-Months Ended		Year Ended December 31
($ in thousands)	9/30/2017		2016		2015		2014		2013
Total Resources (cash and borrowings)
Cash and cash equivalents (unrestricted)	$	8,896	$	19,017	$	19,702	$	50,248	$	37,696
Unused borrowing facility		121,405		117,599		70,134		45,700		19,400
Restricted for capital projects(1)		62,505		62,024		10,263		--		--
Unrestricted capacity		58,900		55,575		59,871		45,700		19,400
Total resources at period end		130,301		136,616		89,836		95,948		57,096
Total unrestricted resources at period end		67,796		74,592		79,573		95,948		57,096
Debt-to-Equity Ratio
Total contractual facility	$	272,717	$	266,134	$	207,075	$	201,318	$	187,860
Total debt (gross of deferred financing costs)		151,312		148,535		130,941		164,036		168,460
Current		8,084		567		15,000		38,104		75,538
Non-current		143,228		147,968		115,941		125,932		92,922
Total book equity		174,795		146,615		138,951		133,716		123,531
Debt-to-equity ratio		0.87		1.01		0.94		1.23		1.36
Changes in Working Capital
Working capital (deficit)	$	(6,377)	$	6,655	$	(35,581)	$	(15,119)	$	(75,067)
Current ratio		0.89		1.10		0.51		0.84		0.43
Capital Expenditures (including acquisitions)	$	44,531	$	49,166	$	53,119	$	14,914	$	20,082

(1) This relates to the construction facilities specifically negotiated for: (i) Union Square redevelopment project, obtained in December 2016, and (ii) New Zealand construction projects, obtained in May 2015.

CONTRACTUAL OBLIGATIONS, COMMITMENTS AND CONTINGENCIES

The following table provides information with respect to the maturities and scheduled principal repayments of our recorded contractual obligations and certain of our commitments and contingencies, either recorded or off-balance sheet, as of September 30, 2017:

(Dollars in thousands)	2017		2018		2019		2020		2021		Thereafter		Total
Debt(1)	$	157	$	8,139	$	105,843	$	246	$	258	$	8,756	$	123,399
Subordinated debt(1)		--		--		--		--		--		27,913		27,913
Tax settlement liability		--		--		--		--		2,686		--		2,686
Pension liability		2,311		684		684		684		684		3,043		8,090
Village East purchase option(3)		--		--		--		--		5,900		--		5,900
Lease obligations		8,290		29,564		27,135		20,233		16,317		129,070		230,609
Estimated interest on debt (2)		1,691		6,559		5,054		1,892		1,880		9,969		27,045
Total	$	12,449	$	44,946	$	138,716	$	23,055	$	27,725	$	178,751	$	425,642

(1)Information is presented exclusive of deferred financing costs.

(2)Estimated interest on debt is based on the anticipated loan balances for future periods and current applicable interest rates.

(3)Represents the lease liability of the option associated with the purchase of our interest in the underlying ground lease of the Village East cinema.  

Refer to Note 13 – Commitments and Contingencies for additional information.

Litigation

We are currently involved in certain legal proceedings and, as required, have accrued estimates of probable and estimable losses for the resolution of these claims. 

Where we are the plaintiffs, we expense all legal fees on an on-going basis and make no provision for any potential settlement amounts until received.  In Australia, the prevailing party is usually entitled to recover its attorneys’ fees, which typically work out to be approximately 60% of the amounts actually spent where first class legal counsel is engaged at customary rates.  Where we are a plaintiff, we have likewise made no provision for the liability for the defendant’s attorneys' fees in the event we are determined not to be the prevailing party.

36

Where we are the defendants, we accrue for probable damages that insurance may not cover as they become known and can be reasonably estimated.  In our opinion, any claims and litigation in which we are currently involved are not reasonably likely to have a material adverse effect on our business, results of operations, financial position, or liquidity.  It is possible, however, that future results of the operations for any particular quarterly or annual period could be materially affected by the ultimate outcome of the legal proceedings. Please refer to Item 3 – Legal Proceedings in the Company’s 2016 Form 10-K for the year ended December 31, 2016 for more information. There have been no material changes to our litigation exposure since our 2016Form 10-K, except as set forth in Note13 – Commitments and Contingencies in the accompanying consolidated financial statements include in this Form 10-Q and in Part II – Item 1A – Risk Factors below.

Off-Balance Sheet Arrangements

Other than the operating lease arrangements mostly relating to our operating cinemas, there are no off-balance sheet arrangements or obligations (including contingent obligations) that have, or are reasonably likely to have, a current or future material effect on our financial condition, changes in the financial condition, revenue or expense, results of operations, liquidity, capital expenditures or capital resources.

CRITICAL ACCOUNTING POLICIES

SEC defines critical accounting policies as those that are, in management’s view, most important to the portrayal of the Company’s financial condition and results of operations and the most demanding in their calls on judgment.  We believe our most critical accounting policies relate to:

· impairment of long-lived assets, including goodwill and intangible assets;

· recognition of gift card and gift certificate breakage income;

· tax valuation allowance and obligations, and,

· contingencies (including the insurance recoverability of losses incurred as a result of the recent earthquake in New Zealand).

We provided detailed discussion regarding these critical accounting policies in our 2016Form 10-K and advise you to refer to that discussion.  Refer to Note 2 – Summary of Significant Accounting Policies–  Recently Adopted and Issued Accounting Pronouncementsfor more information regarding recently adopted and issued accounting pronouncements.

FINANCIAL RISK MANAGEMENT

Currency and interest rate risk

The Company’s objective in managing exposure to foreign currency and interest rate fluctuations is to reduce volatility of earnings and cash flows in order to allow management to focus on core business issues and challenges.

We currently manage our currency exposure by creating, whenever possible, natural hedges in Australia and New Zealand.  This involves local country sourcing of goods and services as well as borrowing in local currenciesto match revenues and expenses.Since we intend to conduct business mostly on a self-funding basis, except for funds used to pay an appropriate share of our domestic corporate overhead), we do not believe the currency fluctuations presents a material risk to the Company.  As such, we  do not use derivative financial instruments to hedge against the risk of foreign currency exposure.

Set forth below is a chart reflecting the currency trends for the Australian and New Zealand Dollars vis-à-vis the U.S. Dollars over the past 20 years.

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Our exposure to interest rate risk arises out of our intermediate termfloating-rate borrowings.  To manage the risk, we utilize interest rate derivative contracts to convert certainfloating-rate borrowings into fixed-rate borrowings. It is the Company’s policy to enter into interest rate derivative transactions only to the extent considered necessary to meet its objectives as stated above. The Company does not enter intothese transactions or any other hedging transactions for speculative purposes.

Inflation

We continually monitor inflation and the effects of changing prices.  Inflation increases the cost of goods and services used.  Competitive conditions in many of our markets restrict our ability to recover fully the higher costs of acquired goods and services through price increases.  We attempt to mitigate the impact of inflation by implementing continuous process improvement solutions to enhance productivity and efficiency and, as a result, lower costs and operating expenses.  In our opinion, we have managed the effects of inflation appropriately, and, as a result, it has not had a material impact on our operations and the resulting financial position or liquidity.

FORWARD LOOKING STATEMENTS

Our statements in this interim quarterly report contain a variety of forward-looking statements as defined by the Securities Litigation Reform Act of 1995. Forward-looking statements reflect only our expectations regarding future events and operating performance and necessarily speak only as of the date the information was prepared.  No guarantees can be given that our expectation will in fact be realized, in whole or in part.  You can recognize these statements by our use of words such as, by way of example, “may,” “will,” “expect,” “believe,” and “anticipate” or other similar terminology.

These forward-looking statements reflect our expectation after having considered a variety of risks and uncertainties.  However, they are necessarily the product of internal discussion and do not necessarily completely reflect the views of individual members of our Board of Directors or of our management team.  Individual Board members and individual members of our management team may have a different view as to the risks and uncertainties involved, and may have different views as to future events or our operating performance.

Among the factors that could cause actual results to differ materially from those expressed in or underlying our forward-looking statements are the following:

· with respect to our cinema operations:

o the number and attractiveness to movie goers of the films released in future periods;

o the amount of money spent by film distributors to promote their motion pictures;

o the licensing fees and terms required by film distributors from motion picture exhibitors in order to exhibit their films;

o the comparative attractiveness of motion pictures as a source of entertainment and willingness and/or ability of consumers (i) to spend their dollars on entertainment and (ii) to spend their entertainment dollars on movies in an outside the home environment;

o the extent to which we encounter competition from other cinema exhibitors, from other sources of outside-the-home entertainment, and from inside-the-home entertainment options, such as “home theaters” and competitive film product distribution technology such as, by way of example, cable, satellite broadcast and DVD rentals and sales, and online streaming;

o the cost and impact of improvements to our cinemas, such as improve seating, enhanced food and beverage offerings and other improvements;

o disruptions from theater improvements; and

o the extent to and the efficiency with which we are able to integrate acquisitions of cinema circuits with our existing operations.

· with respect to our real estate development and operation activities:

o the rental rates and capitalization rates applicable to the markets in which we operate and the quality of properties that we own;

o the extent to which we can obtain on a timely basis the various land use approvals and entitlements needed to develop our properties;

o the risks and uncertainties associated with real estate development;

o the availability and cost of labor and materials;

o the ability to obtain all permits to construct improvements;

o the ability to finance improvements;

o the disruptions from construction;

o the possibility of construction delays, work stoppage and material shortage;

o competition for development sites and tenants;

o environmental remediation issues;

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o the extent to which our cinemas can continue to serve as an anchor tenant that will, in turn, be influenced by the same factors as will influence generally the results of our cinema operations;

o the ability to negotiate and execute joint venture opportunities and relationships;and

o certain of our activities are in geologically active areas, creating a risk of damage and/or disruption of real estate and/or cinema businesses from earthquakes.

· with respect to our operations generally as an international company involved in both the development and operation of cinemas and the development and operation of real estate; and previously engaged for many years in the railroad business in the United States:

o our ongoing access to borrowed funds and capital and the interest that must be paid on that debt and the returns that must be paid on such capital;

o expenses, management and Board distraction and other effects of the litigation efforts mounted by James Cotter, Jr. against the Company, including his efforts to cause a sale of voting control of the Company;

o the relative values of the currency used in the countries in which we operate;

o changes in government regulation, including by way of example, the costs resulting from the implementation of the requirements of Sarbanes-Oxley;

o our labor relations and costs of labor (including future government requirements with respect to pension liabilities, disability insurance and health coverage, and vacations and leave);

o our exposure from time to time to legal claims and to uninsurable risks such as those related to our historic railroad operations, including potential environmental claims and health-related claims relating to alleged exposure to asbestos or other substances now or in the future recognized as being possible causes of cancer or other health related problems;

o changes in future effective tax rates and the results of currently ongoing and future potential audits by taxing authorities having jurisdiction over our various companies; and

o changes in applicable accounting policies and practices.

The above list is not necessarily exhaustive, as business is by definition unpredictable and risky, and subject to influence by numerous factors outside of our control, such as changes in government regulation or policy, competition, interest rates, supply, technological innovation, changes in consumer taste and fancy, weather, and the extent to which consumers in our markets have the economic wherewithal to spend money on beyond-the-home entertainment.

Given the variety and unpredictability of the factors that will ultimately influence our businesses and our results of operation, it naturally follows that no guarantees can be given that any of our forward-looking statements will ultimately prove to be correct.  Actual results will undoubtedly vary and there is no guarantee as to how our securities will perform either when considered in isolation or when compared to other securities or investment opportunities.

Finally, we undertake no obligation to update publicly or to revise any of our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.  Accordingly, you should always note the date to which our forward-looking statements speak.

Additionally, certain of the presentations included in this interim quarterly report may contain “non-GAAP financial measures.”  In such case, a reconciliation of this information to our GAAP financial statements will be made available in connection with such statements.

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Item 3 – Quantitative and Qualitative Disclosure about Market Risk

The SEC requires that registrants include information about potential effects of changes in currency exchange and interest rates in their filings.  Several alternatives, all with some limitations, have been offered.  We base the following discussion on a sensitivity analysis that models the effects of fluctuations in currency exchange rates and interest rates.  This analysis is constrained by several factors, including the following:

· It is based on a single point in time; and

· It does not include the effects of other complex market reactions that would arise from the changes modeled.

Although the results of such an analysis may be useful as a benchmark, they should not be viewed as forecasts.

At September 30, 2017, approximately 44% and 16% of our assets were invested in assets denominated in Australian dollars (Reading Australia) and New Zealand dollars (Reading New Zealand), respectively, including approximately $3.4 million in cash and cash equivalents.  At December 31, 2016, approximately 42% and 18% of our assets were invested in assets denominated in Australian dollars (Reading Australia) and New Zealand dollars (Reading New Zealand), including approximately $8.5 million in cash and cash equivalents.

Our policy in Australia and New Zealand is to match revenues and expenses, whenever possible, in local currencies.  As a result, we have procured a majority of our expenses in Australia and New Zealand in local currencies.  Despite this natural hedge, recent movements in foreign currencies have had an effect on our current earnings.  Although foreign currency has had an effect on our current earnings, the effect of the translation adjustment on our assets and liabilities noted in our other comprehensive income was an increase of $10.2 million for the ninemonths ended September 30, 2017.  As we continue to progress our acquisition and development activities in Australia and New Zealand, we cannot assure you that the foreign currency effect on our earnings will not be material in the future.

Historically, our policy has been to borrow in local currencies to finance the development and construction of our long-term assets in Australia and New Zealand whenever possible.  As a result, the borrowings in local currencies have provided somewhat of a natural hedge against the foreign currency exchange exposure.  Even so, and as a result of our issuance of fully subordinated Trust Preferred Securities in 2007, and their subsequent partial repayment, approximately 72% and 74% of our Australian and New Zealand assets, respectively, remain subject to such exposure, unless we elect to hedge our foreign currency exchange between the US and Australian and New Zealand dollars.  If the foreign currency rates were to fluctuate by 10%, the resulting change in Australian and New Zealand assets would be $13.3 million and $4.8 million, respectively, and the change in our quarterly net income would be $1.8million and $716,000, respectively.  Presently, we have no plan to hedge such exposure.

We record unrealized foreign currency translation gains or losses that could materially affect our financial position.  As of September 30, 2017 and December 31, 2016,  the balance of cumulative foreign currency translation adjustments was approximately $25.0 million gain and $14.8 million gain, respectively.

Historically, we maintain most of our cash and cash equivalent balances in short-term money market instruments with original maturities of three months or less.  Due to the short-term nature of such investments, a change of 1% in short-term interest rates would not have a material effect on our financial condition.

We have a combination of fixed and variable interest rate loans. In connection with our variable interest rate loans, a change of approximately 1% in short-term interest rates would have resulted in approximately$134,000increase or decrease in our quarterly interest expense.

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Item 4 – Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Company’s reports filed under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure.  In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and our management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of our disclosure controls and procedures, as such, term is defined under Rule 13a-15(e) promulgated under the Exchange Act.  Based upon that evaluation, we concluded that, as of September 30, 2017, our disclosure controls and procedures were effective.

Changes in Internal Control over Financial Reporting

There were  no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended September 30, 2017 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – Other Information

Item 1 – Legal Proceedings

The information required under Part II, Item 1 (Legal Proceedings) is incorporated by reference to the information contained in Note 13 – Commitments and Contingencies to the Consolidated Financial Statements included herein in Part I, Item 1 (Financial Statements) on this Quarterly Report on Form 10-Q.

For further details on our legal proceedings, please refer to Item 3, Legal Proceedings, contained in our 2016 Form 10-K.

Item 1A – Risk Factors

There have been no material changes in risk factors as previously disclosed in our 2016 Form 10-K, other than the below.

In a Petition filed with the California Superior Court in and for the County of Los Angeles in the matter of the James J. Cotter Living Trust (“Cotter Trust”), Case No. BP159755 (the "Trust Litigation") on or about July 12, 2017 (the “GAL Petition”), and at a hearing held on August 1-2, 2017, relating to other contested matters, the guardian ad litem (“GAL”) expressed to the Superior Court his view that the interests of the Cotter Grandchildren (the children of Margaret Cotter and Mr. Cotter, Jr.) would be best served by a sale at this time of the Class B Voting Stock held by the Cotter Trust and that he would recommend the appointment of a trustee ad litem (a “TAL”) to conduct a public sale of such Class B Voting Stock structured to open the sales process to interested purchasers general, but at the same time provide an opportunity for such Class B Voting Stock to be retained within the control of Ellen Cotter and Margaret Cotter.   As previously disclosed, the Trust Litigation involves assets of our Company’s founder, former Chairman, Chief Executive Officer and controlling stockholder, James J. Cotter, Sr.  The Cotter Trust holds approximately 41.4% of our Class B Voting Stock. The James J. Cotter Estate, which is the subject of a separate probate proceeding pending in the State of Nevada, holds, among other assets, 25.5% of our Class B Voting Stock, which is currently anticipated to ultimately “pour over” into the Cotter Trust.  The Cotter Trust provides for the creation of a sub-trust (the “Voting Trust’) to hold all of the Class B Voting Stock previously owned by Mr. Cotter, Sr.  Upon the funding of this Voting Trust, it will control approximately 66.9%.  Under applicable Nevada Law, subject to limited fiduciary obligations to minority stockholders, the holder of 66.6% of more of our Company’s Class B Voting Stock may remove and appoint directors to our Company at will.

Ellen Cotter and Margaret Cotter have requested an evidentiary hearing on the GAL Petition and the related Ex Parte Petition by Mr. Cotter, Jr., which likewise seeks the appointment of a TAL to sell the Class B Voting Stock previously owned by Mr. Cotter, Sr.   Mr. Cotter, Jr., has opposed Ellen Cotter and Margaret Cotter’s request for an evidentiary hearing, and requested that the Superior Court promptly grant his Ex Parte Petition without allowing any such evidentiary hearing.  No hearing has been scheduled, and it is questionable, in light of recent action by the Superior Court described below, that  the Superior Court will honor Ellen Cotter and Margaret Cotter’s request for an evidentiary hearing.

On August 29, 2017, the Superior Court entered a Tentative Statement of Decision (the "Tentative Ruling") in the Trust Litigation.  The Tentative Ruling declares that the 2014 Amendment to the Cotter Living Trust signed by Mr. Cotter, Sr., shortly before his death is invalid. Accordingly, subject to the Tentative Ruling becoming final, Ellen Cotter and Margaret Cotter will continue as the sole Co-Trustees of the Cotter Living Trust, as it existed prior to the 2014 Amendment, and Margaret Cotter will likewise continue as the sole trustee of the Voting Trust, again as it existed prior to the 2014 Amendment.   The Tentative Ruling also provides, again subject to becoming final, for the appointment of a temporary trustee ad litem “with the narrow and specific authority to obtain offers to purchase the Reading stock in the voting trust or the citrus farms (certain orchard and packing house properties previously owned by Mr. Cotter, Sr.), but not to exercise any other powers without court approval, specifically the sale of the [sic] company or any other powers possessed by the trustees.” The Superior Court acknowledges that it has no jurisdiction over “the sale of the [C]ompany.” However, the Superior Court has jurisdiction over the assets in the Cotter Trust, including the potential disposition of a controlling interest in the Company. Under the governing California Rules of Court, the Tentative Ruling does not constitute a judgment and is not binding on the Superior Court. The Superior Court remains free to modify or change its decision. It is uncertain as to when, if ever, the Tentative Ruling will become final, or the form in which it will ultimately be issued.

Our Company has advised the Superior Court that our Company supports the request by Ellen Cotter and Margaret Cotter for an evidentiary hearing on the issues of if, when and/or how the potentially controlling interest in our Company should be sold and that, in the view of our Board of Directors, it is in the best interests of our Company and stockholders generally that our Company be permitted to continue to execute on the Three Year Business Strategy approved by our Board on February 18, 2017.   We have further advised the Superior Court that our Board has a fiduciary duty to our Company and our stockholders generally to see that that Three Year Business Strategy is realized and not disrupted or dismantled.  

We are advised by Margaret Cotter and Ellen Cotter that they are opposed to any sale at this time of any of the Class B Voting Stock previously owned by their father, Mr. Cotter, Sr.   They have further advised that they believe that a sale of such Class B Voting Stock would be inconsistent with the applicable trust documents and the intentions of their father.  We understand that Mr. Cotter, Jr., is of

42

the view such shares should be offered for sale to the highest bidder in an auction process which would allow the participation of multiple bidders and which would not include any protections for minority stockholders or provide for the participation of minority stockholders in any resulting change of control transaction.  

We are advised by Margaret Cotter and Ellen Cotter that, if there is a judicially ordered disposition of the Class B Voting Stock previously owned by James J. Cotter, Sr., they intend to be the purchasers of such shares, to retain control of our Company within the Cotter Family, and to preserve and continue on the execution of our Company’s Three Year Business Plan.  We are advised that Mr. Cotter, Jr., opposes a buy-out by Ellen Cotter and Margaret Cotter of the Class B Voting Stock beneficially owned by his  children (representing three-fifths of the Class B Voting Stock to be held by the Voting Trust) and that he has requested the Superior Court, if it were to consider a potential buy-out of his children’s interest in the Class B Voting Stock  by Margaret Cotter and Ellen Cotter, that he be given the same opportunity to buy-out Margaret Cotter’s children’s shares.

Mr. Cotter, Jr., voted against the adoption of our Company’s Three Year Business Strategy and continues to prosecute his derivative action against all of the other members of our Board of Directors and our Company.

On August 7, 2017, our Board of Directors appointed a Special Independent Committee to, among other things, review, consider, deliberate, investigate, analyze, explore, evaluate, monitor and exercise general oversight of any and all activities of the Company directly or indirectly involving, responding to or relating to any potential change of control transaction relating to a sale by the Cotter Living Trust of its holdings of Class B Voting Stock.   The Special Independent Committee has not, however, been delegated any authority to issue or to obligate the Company to issue any shares of our Company’s stock, or to approve any merger, consolidation or liquidation of our Company.   Directors Judy Codding, William Gould and Douglas McEachern have been appointed to serve on this Special Independent Committee.  The Special Committee will be reviewing the scope and implications of the Tentative Ruling and, consistent with its delegated authority, working to protect the best interests of our Company and stockholders generally.

If control of our Company is auctioned off to a third party through the Trust Litigation, no assurances can be given that our Company would be able to continue with its current business plan, that any stockholders other than the Cotter Trust and the Cotter Estate would be able to participate in any such change of control transaction, and/or that the interests of such a purchaser of control would be consistent with the best interest of stockholders generally.

Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds

There were no unregistered sales of equity securities during the periods covered by this report.

The following table summarizes our repurchases under the March 2, 2017 stock repurchase program for the nine months ended September 30, 2017:

Period	Total Number of Shares Purchased	Average Price Paid per Share	Total Number of Shares Purchased as part of our Stock Buy-Back Program	Approximate Dollar Value of Shares that may yet be Purchased under the Stock Buy-Back Program
March 2017	41,899	$              15.99	41,899	$               24,330,149
May 2017	98,816	$              15.78	98,816	$               22,771,316
June 2017	70,234	$              16.39	70,234	$               21,620,212
August 2017	187,207	$              15.81	187,207	$               18,659,580
September 2017	5,000	$              15.71	5,000	$               18,581,038
Total	403,156	$              15.92	403,156

For a description of grants of stock to certain executives, see the Stock Based Compensation section under see Note 15 – Equity and Stock-Based Compensation to our Consolidated Financial Statements.

Item 3 – Defaults upon Senior Securities

None.

Item 5 – Other Information

Please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for details.

43

Item 6 – Exhibits

31.1	Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.
31.2	Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.
32	Certifications Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Calculation
101.DEF	XBRL Taxonomy Extension Definition
101.LAB	XBRL Taxonomy Extension Labels
101.PRE	XBRL Taxonomy Extension Presentation

44

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

READING INTERNATIONAL, INC.

Date:November 6, 2017

By: /s/ Ellen M. Cotter

Ellen M. Cotter

Chief Executive Officer

Date:November 6, 2017

By: /s/ Devasis Ghose

Devasis Ghose

Chief Financial Officer

45

EX-31.1

EXHIBIT 31.1

CERTIFICATIONS

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ellen M. Cotter., certify that:

1) I have reviewed this quarterly report on Form 10-Q of Reading International, Inc.;

2) Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3) Based on my knowledge, the financial statements and other financial information included in this quarterly report fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

d) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and

6) The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

By:/s/ Ellen M. Cotter

Ellen M. Cotter

Chief Executive Officer

November 6, 2017

EX-31.2

Exhibit 31.2

CERTIFICATIONS

PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Devasis Ghose, certify that:

1) I have reviewed this quarterly report on Form 10-Q of Reading International, Inc.;

2) Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;

3) Based on my knowledge, the financial statements and other financial information included in this quarterly report fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4) The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and we have:

a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant's disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

d) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;

5) The registrant's other certifying officer and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and

6) The registrant's other certifying officer and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

By:/s/ Devasis Ghose

Devasis Ghose

Chief Financial Officer

November 6, 2017

EX-32

EXHIBIT 32

CERTIFICATION PURSUANT TO
18 U.S.C.  SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

Each of the undersigned hereby certifies, in his or her capacity as an officer of Reading International, Inc. (the “Company”), for purposes of 18 U.S.C.  Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of his or her knowledge:

· The Quarterly Report of the Company on Form 10-Q for the quarter ended September 30, 2017 as filed with the Securities and Exchange Commission fully complies with the requirements of Section 13(a) and 15(d), as applicable, of the Securities Exchange Act of 1934; and

· The information contained in such report fairly presents, in all material respects, the financial condition and results of operation of the Company.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

Dated:  November 6, 2017

/s/ Ellen M. Cotter

Name:Ellen M. Cotter

Title:Chief Executive Officer

/s/ Devasis Ghose

Name:Devasis Ghose

Title:Chief Financial Officer

XML

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 06, 2017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Entity Registrant Name	READING INTERNATIONAL INC
Trading Symbol	rdi
Entity Central Index Key	0000716634
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Class A [Member]
Entity Common Stock, Shares Outstanding		21,184,863
Class B [Member]
Entity Common Stock, Shares Outstanding		1,680,590

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Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	[1]
ASSETS
Cash and cash equivalents	$ 8,896	$ 19,017
Receivables	36,191	8,772
Inventory	1,169	1,391
Prepaid and other current assets	4,329	5,787
Land held for sale		37,674
Total current assets	50,585	72,641
Operating property, net	225,631	211,886
Investment and development property, net	73,751	43,687
Investment in unconsolidated joint ventures	5,339	5,071
Goodwill	20,438	19,828
Intangible assets, net	8,909	10,037
Deferred tax asset, net	28,907	28,667
Other assets	4,501	13,949
Total assets	418,061	405,766
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities	21,030	26,479
Film rent payable	6,390	10,528
Debt – current portion	8,084	567
Taxes payable - current	2,163	3,523
Deferred current revenue	7,635	10,758
Other current liabilities	11,660	14,131
Total current liabilities	56,962	65,986
Debt – long-term portion	111,939	115,707
Subordinated debt, net	27,501	27,340
Noncurrent tax liabilities	20,808	19,953
Other liabilities	26,056	30,165
Total liabilities	243,266	259,151
Commitments and contingencies (Note 13)
Stockholders' equity:
Nonvoting preferred stock, par value $0.01, 12,000 shares authorized and no issued or outstanding shares at September 30, 2017 and December 31, 2016
Additional paid-in capital	145,504	144,569
Retained earnings	25,298	1,680
Treasury shares	(22,849)	(16,374)
Accumulated other comprehensive income	22,399	12,075
Total Reading International, Inc. stockholders' equity	170,600	142,197
Noncontrolling interests	4,195	4,418
Total stockholders' equity	174,795	146,615
Total liabilities and stockholders’ equity	418,061	405,766
Class A [Member]
Stockholders' equity:
Common stock	231	230
Class B [Member]
Stockholders' equity:
Common stock	$ 17	$ 17

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	12,000	12,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	32,946,569	32,856,267
Common stock, shares outstanding	21,184,863	21,497,717
Class B [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	1,680,590	1,680,590
Common stock, shares outstanding	1,680,590	1,680,590

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Consolidated Statements Of Income $ in Thousands, NZD in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017 USD ($) $ / shares shares	Sep. 30, 2016 USD ($) $ / shares shares	[1]	Sep. 30, 2017 USD ($) $ / shares shares	Sep. 30, 2016 USD ($) $ / shares shares	[1]
Revenue
Cinema	$ 62,059	$ 67,825		$ 196,062	$ 192,579
Real estate	4,028	3,490		11,892	10,443
Total revenue	66,087	71,315		207,954	203,022
Costs and expenses
Cinema	(49,591)	(52,103)		(153,512)	(148,864)
Real estate	(2,881)	(2,296)		(7,258)	(6,628)
Depreciation and amortization	(4,137)	(4,131)		(12,124)	(11,766)
General and administrative	(5,840)	(6,175)		(18,131)	(18,372)
Total costs and expenses	(62,449)	(64,705)		(191,025)	(185,630)
Operating income	3,638	6,610		16,929	17,392
Interest expense, net	(1,663)	(1,553)		(5,310)	(5,190)
Gain on sale of assets				9,417	393
Gain on insurance recoveries				9,217
Other income (expense)	89	(12)		937	(115)
Income before income tax expense and equity earnings of unconsolidated joint ventures	2,064	5,045		31,190	12,480
Equity earnings of unconsolidated joint ventures	136	200		654	808
Income before income taxes	2,200	5,245		31,844	13,288
Income tax expense	(742)	(1,328)		(8,291)	(4,222)
Net income	1,458	3,917		23,553	9,066
Less: net income (loss) attributable to noncontrolling interests	(98)	62		(66)	12
Net income attributable to Reading International, Inc. common shareholders	$ 1,556	$ 3,855		$ 23,619	$ 9,054
Basic earnings per share attributable to Reading International, Inc. shareholders | $ / shares	$ 0.07	$ 0.17		$ 1.02	$ 0.39
Diluted earnings per share attributable to Reading International, Inc. shareholders | $ / shares	$ 0.07	$ 0.16		$ 1.01	$ 0.38
Weighted average number of shares outstanding-basic | shares	22,968,017	23,334,892		23,101,619	23,334,892
Weighted average number of shares outstanding-diluted | shares	23,212,632	23,532,796		23,346,234	23,532,796

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	[1]	Sep. 30, 2017	Sep. 30, 2016	[1]
Consolidated Statements Of Comprehensive Income [Abstract]
Net income	$ 1,458	$ 3,917		$ 23,553	$ 9,066
Foreign currency translation	1,791	5,042		10,192	9,310
Other	51	54		151	118
Comprehensive income	3,300	9,013		33,896	18,494
Less: net income (loss) attributable to noncontrolling interests	(98)	62		(66)	12
Less: comprehensive income (loss) attributable to noncontrolling interests	33	8		20	14
Comprehensive income attributable to Reading International, Inc.	$ 3,365	$ 8,943		$ 33,942	$ 18,468

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Consolidated Statements Of Cash Flows $ in Thousands, NZD in Millions		9 Months Ended
		Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Operating Activities
Net income		$ 23,553	$ 9,066	[1]
Adjustments to reconcile net income to net cash provided by operating activities:
Equity earnings of unconsolidated joint ventures		(654)	(808)	[1]
Distributions of earnings from unconsolidated joint ventures		636	779	[1]
Gain recognized on foreign currency transactions		(910)
Gain on sale of assets		(9,417)	(393)	[1]
Gain on insurance recoveries		(9,217)
Change in net deferred tax assets		127	(3,782)	[1]
Depreciation and amortization		12,124	11,766	[1]
Other amortization		1,840	1,409	[1]
Stock based compensation expense		730	449	[1]
Net changes in operating assets and liabilities:
Receivables		1,593	2,092	[1]
Prepaid and other assets		1,745	(738)	[1]
Accounts payable and accrued expenses		(5,701)	(2,783)	[1]
Film rent payable		(4,347)	(3,089)	[1]
Taxes payable		(1,695)	2,142	[1]
Deferred revenue and other liabilities		(1,652)	(1,594)	[1]
Net cash provided by operating activities		8,755	14,516	[1]
Investing Activities
Demolition costs of operating property		(3,510)
Insurance recoveries relating to property damage and demolition costs		18,415
Purchases of and additions to operating and investment properties		(44,531)	(35,682)	[1]
Change in restricted cash		36	(848)	[1]
Distributions of investment in unconsolidated joint ventures		125	190	[1]
Disposal of investment in unconsolidated joint ventures		(337)
Proceeds from sale of assets		16,606	831	[1]
Net cash used in investing activities		(13,196)	(35,509)	[1]
Financing Activities
Repayment of long-term borrowings		(46,629)	(40,802)	[1]
Proceeds from borrowings		47,706	52,396	[1]
Capitalized borrowing costs	[1]		(785)
Repurchase of Class A Nonvoting Common Stock		(6,475)
Proceeds from the exercise of stock option		207
Noncontrolling interest contributions		63	268	[1]
Noncontrolling interest distributions		(240)	(194)	[1]
Net cash (used in)/ provided by financing activities		(5,368)	10,883	[1]
Effect of exchange rate changes on cash and cash equivalents		(312)	388	[1]
Net decrease in cash and cash equivalents		(10,121)	(9,722)	[1]
Cash and cash equivalents at January 1	[1]	19,017	19,702
Cash and cash equivalents at September 30		8,896	9,980	[1]
Supplemental Disclosures
Interest paid		4,489	3,053	[1]
Income taxes paid		$ 7,371	$ 5,288	[1]

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Description Of Business And Segment Reporting

9 Months Ended

Sep. 30, 2017

Description Of Business And Segment Reporting [Abstract]

Description Of Business And Segment Reporting

Note 1 – Description of Business and Segment Reporting

The Company

Reading International, Inc., a Nevada corporation (“RDI” and collectively with our consolidated subsidiaries and corporate predecessors, the “Company,” “Reading” and “we,” “us,” or “our”), was incorporated in 1999.  Our businesses consist primarily of:

· the development, ownership, and operation of multiplex cinemas in the United States, Australia, and New Zealand; and,

· the development, ownership, and operation of retail and commercial real estate in Australia, New Zealand, and the United States.

Business Segments

Reported below are the operating segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer, the chief operating decision-maker of the Company.  As part of our real estate activities, we hold undeveloped land in urban and suburban centers in New Zealand and the United States.

The table below summarizes the results of operations for each of our business segments for the quarter and nine months ended September 30, 2017 and 2016, respectively.  Operating expense includes costs associated with the day-to-day operations of the cinemas and the management of rental properties, including our live theater assets.

	Quarter Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Revenue:
Cinema exhibition	$	62,059	$	67,825	$	196,062	$	192,579
Real estate		6,036		5,390		17,467		15,961
Inter-segment elimination		(2,008)		(1,900)		(5,575)		(5,518)
	$	66,087	$	71,315	$	207,954	$	203,022
Segment operating income:
Cinema exhibition	$	6,703	$	9,726	$	25,581	$	26,536
Real estate		1,549		1,755		5,600		5,844
	$	8,252	$	11,481	$	31,181	$	32,380

A reconciliation of segment operating income to income before income taxes is as follows:

	Quarter Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Segment operating income	$	8,252	$	11,481	$	31,181	$	32,380
Unallocated corporate expense
Depreciation and amortization expense		(108)		(102)		(321)		(295)
General and administrative expense		(4,506)		(4,769)		(13,931)		(14,693)
Interest expense, net		(1,663)		(1,553)		(5,310)		(5,190)
Equity earnings of unconsolidated joint ventures		136		200		654		808
Gain on sale of assets		--		--		9,417		393
Gain on insurance recoveries		--		--		9,217		--
Other income (expense)		89		(12)		937		(115)
Income before income tax expense	$	2,200	$	5,245	$	31,844	$	13,288

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Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2017

Summary Of Significant Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Basis of Consolidation

The accompanying consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries as well as majority-owned subsidiaries that the Company controls, and should be read in conjunction with the Company’s Annual Report on Form 10-K as of and for the year-ended December 31, 2016 (“2016 Form 10-K”).  All significant intercompany balances and transactions have been eliminated on consolidation.  These consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”).  As such, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. We believe that we have included all normal and recurring adjustments necessary for a fair presentation of the results for the interim period. Operating results for the quarter and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and footnotes thereto. Significant estimates include (i) projections we make regarding the recoverability and impairment of our assets (including goodwill and intangibles), (ii) valuations of our derivative instruments, (iii) recoverability of our deferred tax assets, (iv) estimation of gift card and gift certificate breakage which we concluded to have remote likelihood of redemption, and (v) allocation of insurance proceeds to various recoverable components. Actual results may differ from those estimates.

Reclassifications

Certain reclassifications have been made in the 2016 comparative information in our consolidated financial statements and accompanying notes to conform to the 2017 presentation.  These reclassifications relate to the following items, for which we assessed to be allowable under Regulation S-X, Rule 10.01 due to immaterial balances:

(i) reclassification of Investment in Reading International Trust I as part of “Other assets” line in our consolidated balance sheets;

(ii) net-off of interest income against interest expense in our consolidated statements of income;

(iii) combination of certain components in our consolidated statements of comprehensive income into one line, called “Others”; and,

(iv) combination of certain amortization items in our consolidated statement of cash flows (under Operating Activities section) into a singular line, called “Other amortization”.

Recently Adopted and Issued Accounting Pronouncements

Adopted:

On January 1, 2017, the Company adopted ASU 2016-09,  Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.  This new guidance, which became effective for fiscal years beginning after December 15, 2016, provides for the simplification of several aspects of the accounting for share-based payment transactions, including (i) accounting for tax benefits in excess of compensation cost and tax deficiencies, (ii) accounting for forfeitures, and (iii) classification on the statement of cash flows. The only significant impact of the adoption of this new guidance to us is the immediate recognition of excess tax benefits (or “windfalls”) and tax deficiencies (or “shortfalls”) in the consolidated statement of income.  Previously, (i) tax windfalls were recorded in additional paid-in capital (“APIC”) in the consolidated statement of stockholders’ equity and (ii) tax shortfalls were recorded in APIC to the extent of previous windfalls and then to the consolidated statement of income. 

Issued:

In March 2017, the FASB issued ASU 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.  The amendments in this Update (i) require that an employer disaggregate the service cost component from the other components of net benefit cost, and (ii) provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allow only the service cost component of net benefit cost to be eligible for capitalization.  The new guidance is effective for the Company on January 1, 2018.  Early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance.  We do not anticipate the adoption of ASU 2017-07 to have a material impact on our consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.  This new guidance removes the second step of the two-step impairment test for measuring goodwill and is to be applied on a prospective basis only. The new guidance is effective for the Company on January 1, 2020, including interim periods within the year of adoption.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.  We do not anticipate the adoption of ASU 2017-04 to have a material impact on our consolidated financial statements.

Also, in January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.  This ASU provides that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the asset is not a “business”,thus reducing the number of transactions that need further evaluation for business combination.   This becomes effective for the Company on January 1, 2018.   We do not expect the ASU 2017-01 to be applicable to our consolidated financial statements in the near term unless we enter into a definitive business acquisition transaction.

Further, in January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments—Equity Method and Joint Ventures (Topic 323): Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 and November 17, 2016 EITF Meetings.  This ASU requires issuers to disclose the effect that recently issued accounting standards will have on their financial statements when adopted in a future period.   In accordance with this disclosure requirement, we provide below our initial analysis of the impact of the following recently issued standards (including any amendments prior to adoption) that are effective in future periods:

1. ASU 2014-09, Revenue from Contracts with Customers (Topic 606) – FASB issued this new guidance, which becomes effective for us beginning January 1, 2018, to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. GAAP.  We do not currently believe the proposed guidance will have a material impact to our cinema exhibition business.  We are in the process of completing an analysis to ensure full compliance prior to the effective date.  In regards to ASUs subsequently issued that amend or are related to ASU 2014-09, we disclose our initial analysis as follows:

· ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products (Subtopic 405-20) – FASB issued this new guidance on extinguishment of liabilities, which becomes effective to us beginning January 1, 2018, related to prepaid stored-value products (such as our gift cards and gift certificates) based on the same breakage model required by Topic 606, Revenue from Contracts with Customers.  Accordingly, issuers will be required to recognize the expected breakage amount (i.e., derecognize the liability) either (1) proportionally in earnings as redemptions occur, or (2) when redemption is remote. While this guidance is not applicable until 2018, we have effectively applied this through our recording of the gift card breakage income as a change in accounting policy as reported in our 2016 Form 10-K with retrospective application to January 1, 2014. As a result, wedo not anticipate that the adoption of ASU 2016-04 will have a material impact on the Company’s consolidated financial statements and related disclosures.

· ASU 2016-08, Principal vs Agent Considerations (Reporting Revenue Gross versus Net) (Topic 606) – FASB issued this amendment to the principal versus agent guidance in the new revenue standard to clarify that the analysis must focus on whether the entity has control of the goods or services before they are transferred to the customer.  We do not anticipate that the adoption of ASU 2016-08 will have a material impact on our consolidated financial statements and related disclosures.

2. ASU 2016-02, Leases (Topic 842)– This new guidance, which becomes effective for us by January 1, 2019, establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months.  Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.  A modified retrospective transition approach is required for lessees with capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available.  While we are still evaluating the impact of our pending adoption of this new standard on our consolidated financial statements, we expect that upon adoption we will recognize ROU assets and lease liabilities and that the amounts could be material since a majority of our operating cinemas are on a leased-facility model.  We have developed an implementation plan.Significant implementation matters that we are addressing include(i) assessment of lease population, (ii) determination of appropriate discount rate to use and (ii) assessment of renewal options to include in the initial lease term.

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Operations In Foreign Currency

9 Months Ended

Sep. 30, 2017

Operations In Foreign Currency [Abstract]

Operations In Foreign Currency

Note 3 – Operations in Foreign Currency

We have significant assets in Australia and New Zealand. To the extent possible, we conduct our Australian and New Zealand operations (collectively “foreign operations”) on a self-funding basis where we use cash flows generated by our foreign operations to pay for the expense of foreign operations.  Our Australian and New Zealand assets and liabilities are translated from their functional currencies of Australian dollar (“AU$”) and New Zealand dollar (“NZ$”), respectively, to the U.S. dollar based on the exchange rate as of September 30, 2017. The carrying value of the assets and liabilities of our foreign operations fluctuates as a result of changes in the exchange rates between the functional currencies of the foreign operations and the U.S. dollar. The translation adjustments are accumulated in the Accumulated Other Comprehensive Income in the Consolidated Balance Sheets.

As indicated previously, our overall operating strategy is to conduct business mostly on a self-funding basis (except for funds used to pay an appropriate share of our U.S. corporate overhead).  As such, we do not use derivative financial instruments to hedge against the risk of foreign currency exposure.  However, in certain circumstances, we may decide to move funds between jurisdictions where circumstances encouraged us to do so from an overall economic standpoint. As of December 31, 2016, we determined certain intercompany advances from the U.S. Parent Company to our Australian subsidiary should be considered short-term. 

Subsequently, on September 1, 2017, we determined that the remaining AU$21.1 million in long-term intercompany loans should be considered as short-term as well.   Such assessment was made on the basis of global funding opportunities, which were not present as of December 31, 2016.

As a result, we recognized foreign exchange gain on these intercompany advances based on the relative strengthening of the Australian dollar to the U.S. dollar in the amounts of $910,000 for the nine months ended September 30, 2017 in our Consolidated Statements of Income.

Presented in the table below are the currency exchange rates for Australia and New Zealand:

	Foreign Currency / USD
	September 30, 2017		December 31, 2016	September 30, 2016
	As of and for the quarter ended	As of and for the nine months ended	As of and for the twelve months ended	As of and for the quarter ended	As of and for the nine months ended
Spot Rate
Australian Dollar	0.7840		0.7230	0.7667
New Zealand Dollar	0.7225		0.6958	0.7290
Average Rate
Australian Dollar	0.7899	0.7664	0.7440	0.7583	0.7420
New Zealand Dollar	0.7307	0.7159	0.6973	0.7226	0.6926

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Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Note 4 – Earnings Per Share

Basic earnings per share (“EPS”) is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common shares outstanding during the period.  Diluted EPS is calculated by dividing the net income attributable to the Company’s common stockholders by the weighted average number of common and common equivalent shares outstanding during the period and are calculated using the treasury stock method for equity-based compensation awards. 

The following table sets forth the computation of basic and diluted EPS and a reconciliation of the weighted average number of common and common equivalent shares outstanding:

	Quarter Ended				Nine Months Ended
(Dollars in thousands, except share data)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Numerator:
Net income attributable to RDI common stockholders	$	1,556	$	3,855	$	23,619	$	9,054
Denominator:
Weighted average number of common stock – basic	22,968,017		23,334,892		23,101,619		23,334,892
Weighted average dilutive impact of awards	244,615		197,904		244,615		197,904
Weighted average number of common stock – diluted	23,212,632		23,532,796		23,346,234		23,532,796
Basic EPS attributable to RDI common stockholders	$	0.07	$	0.17	$	1.02	$	0.39
Diluted EPS attributable to RDI common stockholders	$	0.07	$	0.16	$	1.01	$	0.38
Awards excluded from diluted EPS	149,841		108,000			149,841		108,000

Our weighted average number of common stock decreased as a result of our repurchase of 192,207 shares and 403,156 shares of Class A Common Stock for the quarter and nine months ended September 30, 2017,respectively, pursuant to our current stock repurchase program.

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Property And Equipment

9 Months Ended

Sep. 30, 2017

Property And Equipment [Abstract]

Property And Equipment

Note 5 – Property and Equipment

Operating Property, net

As of September 30, 2017 and December 31, 2016, property associated with our operating activities is summarized as follows:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Land	$	76,736	$	73,803
Building and improvements		130,923		122,863
Leasehold improvements		48,605		46,902
Fixtures and equipment		130,086		118,180
Construction-in-progress		19,922		11,517
Total cost		406,272		373,265
Less: accumulated depreciation		(180,641)		(161,379)
Operating property, net	$	225,631	$	211,886

Depreciation expense for operating property was $4.0 million and $11.8 millionfor the quarterand nine months ended September 30, 2017, and$4.0 million and $11.2 million for the quarter and nine months endedSeptember 30, 2016.

Investment and Development Property, net

As of September 30, 2017 and December 31, 2016, our investment and development property is summarized below:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Land	$	25,285	$	24,616
Building		1,900		1,900
Construction-in-progress (including capitalized interest)		46,566		17,171
Investment and development property	$	73,751	$	43,687

Construction-in-Progress – Operating and Investing Properties

Construction-in-Progress balances are included in both our operatingand development properties. The balances of our major projects along with the movements for the nine months ended September 30, 2017 are shown below:

(Dollars in thousands)		Balance, December 31, 2016		Additions during the period(1)		Completed during the period		Foreign currency movements		Balance, September 30, 2017
Union Square development	$	11,412	$	13,413	$	--	$	--	$	24,825
Newmarket Property development		2,106		14,492		--		438		17,036
Courtenay Central development		3,510		883		--		149		4,542
Cinema developments and improvements		7,796		8,810		(1,845)		64		14,825
Other real estate projects		3,864		5,141		(3,942)		197		5,260
Total	$	28,688	$	42,739	$	(5,787)	$	848	$	66,488

(1)Includes capitalized interest of $369,000 and $790,000 for the quarter and nine months ended September 30, 2017.

Real Estate Transactions

Sale of Landholding in Burwood, Australia

On May 12, 2014, we entered into a contract to sell our undeveloped 50.6 acre parcel in Burwood, Victoria, Australia, to Australand Holdings Limited (now known as Frasers Property Australia, “Frasers”) for a purchase price of $50.8 million (AU$65.0 million).  We received $5.9 million (AU$6.5 million) on May 23, 2014. 

The agreement provides for mandatory pre-payments in the event that any of the land is sold by the buyer, any such prepayment being in an amount equal to the greater of (a) 90% of the net sales price or (b) the balance of the purchase price multiplied by a fraction the numerator of which is the square footage of property being sold by the buyer and the denominator of which is the original square footage of the property being sold to the buyer.  The agreement does not provide for the payment of interest on the balance owed.

On June 19, 2017, Frasers sold a parcel of land for which we received additional payment in the amount of $16.5 million (AU$21.8 million), representing 90% of the net sales price.  We expect the final settlement on the remaining receivable amount of $28.8 million  (AU36.7 million), included as part of “Receivables” in our Consolidated Balance Sheet, to occur in December 2017.  Cumulatively, this transaction now has achieved the requisites to consummate the sale.  Since there is reasonable assurance of cost recovery and we have assessed the collectability of the remaining receivable to be high, we recognized the sale of the land and the total transaction gain, in the amount of $9.4 million (AU$12.5 million) during the quarter ended June 30, 2017, determined as follows:

(Dollars in thousands)	In AU$
Selling price	$	65,000
Less: Property book value		(52,108)
Total transaction gain, gross		12,892
Less: Direct costs incurred(1)		(439)
Total transaction gain, net	$	12,453

(1)Represents commissions and legal expenses incurred in connection with this transaction. 

Sale of Properties in Taupo, New Zealand

On April 1, 2015, we entered into two definitive purchase and sale agreements to sell our properties at Taupo, New Zealand for a combined sales price of $2.4 million (NZ$3.4 million).  The first agreement related to a property with a sales price of $1.6 million (NZ$2.2 million) and a book value of $1.3 million (NZ$1.8 million), which closed on April 30, 2015 when we received the sales price in full. The other agreement related to a property with a sales price of $831,000  (NZ$1.2 million) and a book value of $426,000 (NZ$615,000) which was completed and for which we received cash settlement representing the full sales price on March 31, 2016.  The first transaction qualified as a sale under both U.S. GAAP and tax purposes during the year-ended December 31, 2015.  The second transaction was recorded as a sale during the quarter ended March 31, 2016.

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Investments In Unconsolidated Joint Ventures

9 Months Ended

Sep. 30, 2017

Investments In Unconsolidated Joint Ventures [Abstract]

Investments In Unconsolidated Joint Ventures

Note 6 – Investments in Unconsolidated Joint Ventures

Our investments in unconsolidated joint ventures are accounted for under the equity method of accounting. Our previous investment in Rialto Distribution, which was fully written off since 2010, has been transferred to our previous business partners.  As part of our exit strategy, we paid an amount lower than the accrual we had taken for our debt obligation in the joint venture.  Consequently, we recognized a gain of  $15,000  (NZ$21,000) during the quarter ended June 30, 2017.

The table below summarizes our active investment holdings in two (2) unconsolidated joint ventures as of September 30, 2017 and December 31, 2016:

		September 30,		December 31,
(Dollars in thousands)	Interest	2017		2016
Rialto Cinemas	50.0%	$	1,211	$	1,197
Mt. Gravatt	33.3%		4,128		3,874
Total investments		$	5,339	$	5,071

For the quarter and nine months endedSeptember 30, 2017 and 2016, therecognized share of equity earnings from our investments in unconsolidated joint ventures are as follows:

	Quarter Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)		2017		2016		2017		2016
Rialto Cinemas	$	32	$	47		93		208
Mt. Gravatt		104		153		561		600
Total equity earnings	$	136	$	200	$	654	$	808

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Goodwill And Intangible Assets

9 Months Ended

Sep. 30, 2017

Goodwill And Intangible Assets [Abstract]

Goodwill And Intangible Assets

Note 7 – Goodwill and Intangible Assets

The table below summarizes goodwill by business segment as of September 30, 2017 and December 31, 2016.  

(Dollars in thousands)	Cinema		Real Estate		Total
Balance at December 31, 2016	$	14,604	$	5,224	$	19,828
Foreign currency translation adjustment		610		--		610
Balance at September 30, 2017	$	15,214	$	5,224	$	20,438

The Company is required to test goodwill and other intangible assets for impairment on an annual basis and, if current events or circumstances require, on an interim basis.  Our next annual evaluation of goodwill and other intangible assets is scheduled during the fourth quarter of 2017. To test the impairment of goodwill, the Company compares the fair value of each reporting unit to its carrying amount, including the goodwill, to determine if there is potential goodwill impairment. A reporting unit is generally one level below the operating segment. As of September 30, 2017, we were not aware of any events indicating potential impairment of goodwill had occurred.

The tables below summarize intangible assets other than goodwill as of September 30, 2017 and December 31, 2016, respectively.

	As of September 30, 2017
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,879	$	7,254	$	1,087	$	37,220
Less: Accumulated amortization		(22,971)		(4,860)		(480)		(28,311)
Net intangible assets other than goodwill	$	5,908	$	2,394	$	607	$	8,909

	As of December 31, 2016
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,671	$	7,254	$	1,084	$	37,009
Less: Accumulated amortization		(21,870)		(4,634)		(468)		(26,972)
Net intangible assets other than goodwill	$	6,801	$	2,620	$	616	$	10,037

Beneficial leases are amortized over the life of the lease up to 30 years, trade names are amortized based on the accelerated amortization method over its estimated useful life of 45 years, and other intangible assets are amortized over their estimated useful lives of up to 30 years (except for transferrable liquor licenses, which are indefinite-lived assets).  The table below summarizes the amortization expense of intangible assets for the quarterand nine months ended September  30, 2017.  

	Quarter Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)	2017		2016		2017		2016
Beneficial lease amortization	$	278	$	578	$	935	$	968
Other amortization		104		296		311		845
Total intangible assets amortization	$	382	$	874	$	1,246	$	1,813

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Prepaid And Other Assets

9 Months Ended

Sep. 30, 2017

Prepaid And Other Assets [Abstract]

Prepaid And Other Assets

Note 8 – Prepaid and Other Assets

Prepaid and other assets are summarized as follows:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Prepaid and other current assets
Prepaid expenses	$	2,080	$	981
Prepaid rent		1,029		1,237
Prepaid taxes		863		3,098
Deposits		295		404
Investment in marketable securities		45		50
Restricted cash		17		17
Total prepaid and other current assets	$	4,329	$	5,787
Other non-current assets
Straight-line rent		2,509		2,457
Other non-cinema and non-rental real estate assets		1,134		1,134
Investment in Reading International Trust I		838		838
Interest rate cap at fair value		15		1
Long-term deposits		5		39
Insurance receivable(1)	$	--	$	9,480
Total other non-current assets	$	4,501	$	13,949

(1)This was subsequently received in May 2017 as a result of the final settlement from our Insurer.  Refer to Note 18 – Insurance Recoveries for further discussion on this item.

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Income Taxes

9 Months Ended

Sep. 30, 2017

Income Taxes [Abstract]

Income Taxes

Note 9 – Income Taxes

The provision for income taxes is different from the amount determined by applying the U.S. federal statutory rate to consolidated income before taxes.  The differences are attributable to foreign tax rate differential, unrecognized tax benefits, change in valuation allowance, and non-taxable insurance proceeds. Our effective tax rate was 26.0% and 31.8% for the nine months ended September 30, 2017 and 2016, respectively.  The change between 2017 and 2016 is primarily related to non-taxable income from insurance proceeds received in 2017 relating to our demolished Courtenay Central parking structure in Wellington, New Zealand.

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Debt

9 Months Ended

Sep. 30, 2017

Debt [Abstract]

Debt

Note 10 – Debt

The Company’s borrowings at September 30, 2017 and December 31, 2016, net of deferred financing costs and including the impact of interest rate derivatives on effective interest rates, are summarized below:

		As of September 30, 2017
(Dollars in thousands)		Maturity Date	Contractual Facility		Balance, Gross		Balance, Net(3)		Stated Interest Rate	Effective Interest Rate (1)
Denominated in USD
	Trust Preferred Securities (USA)	April 30, 2027	$	27,913	$	27,913	$	27,501	5.31%	5.20%
	Bank of America Credit Facility (USA)	November 28, 2019		55,000		40,500		40,481	3.74%	3.65%
	Bank of America Line of Credit (USA)	October 31, 2019		5,000		--		--	4.24%	4.24%
	Cinema 1, 2, 3 Term Loan (USA)(4)	September 1, 2019		19,601		19,601		19,168	3.25%	3.25%
	Minetta & Orpheum Theatres Loan (USA)(4)	June 1, 2018		7,500		7,500		7,452	4.00%	4.00%
	U.S. Corporate Office Term Loan (USA)(4)	January 1, 2027		9,774		9,774		9,651	4.64%	4.64%
	Union Square Construction Financing (USA)(4)	December 29, 2019		57,500		8,000		5,351	5.49%	5.49%
Denominated in foreign currency ("FC") (2)
	NAB Corporate Term Loan (AU)	June 28, 2019		52,136		38,024		37,920	3.55%	3.55%
	Westpac Corporate Credit Facility (NZ)	December 31, 2018		38,293		--		--	3.70%	3.70%
			$	272,717		151,312		147,524

(1)Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of September 30, 2017.

(2)The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of September 30, 2017.

(3)Net of deferred financing costs amounting to $3.8 million.

(4)The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.  In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. 

		As of December 31, 2016
(Dollars in thousands)		Maturity Date	Contractual Facility		Balance, Gross		Balance, Net(3)		Stated Interest Rate	Effective Interest Rate (1)
Denominated in USD
	Trust Preferred Securities (USA)	April 30, 2027	$	27,913	$	27,913	$	27,340	4.89%	5.20%
	Bank of America Credit Facility (USA)	November 28, 2019		55,000		39,950		39,759	3.27%	3.90%
	Bank of America Line of Credit (USA)	October 31, 2019		5,000		--		--	3.77%	3.77%
	Cinema 1, 2, 3 Term Loan (USA)(4)	September 1, 2019		19,901		19,901		19,356	3.25%	3.25%
	Minetta & Orpheum Theatres Loan (USA)(4)	June 1, 2018		7,500		7,500		7,398	3.38%	3.38%
	U.S. Corporate Office Term Loan (USA)(4)	January 1, 2027		8,363		8,363		8,239	4.64%	4.64%
	Union Square Construction Financing (USA)(4)	December 29, 2019		57,500		8,000		4,751	4.52%	4.52%
Denominated in FC (2)
	NAB Corporate Term Loan (AU)	June 30, 2019		48,080		28,558		28,421	2.64%	2.64%
	Westpac Corporate Credit Facility (NZ)	March 31, 2018		36,877		8,350		8,350	3.80%	3.80%
			$	266,134	$	148,535	$	143,614

(1)Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of December 31, 2016.

(2)The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of December 31, 2016.

(3)Net of deferred financing costs amounting to $4.9 million.

(4)The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. 

The Minetta & Orpheum Theatres Loan will become due within one year.  Currently, we are negotiating with our lender to renew this borrowing. 

Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:

	Dollars in thousands
Balance Sheet Caption	September 30, 2017		December 31, 2016
Debt - current portion	$	8,084	$	567
Debt - long-term portion		111,939		115,707
Subordinated debt		27,501		27,340
Total borrowings	$	147,524	$	143,614

Union Square Construction Financing

On December 29, 2016, we closed our new construction finance facilities totaling $57.5 million to fund the non-equity portion of the anticipated construction costs of the redevelopment of our property at 44 Union Square in New York City. The combined facilities consist of $50 million in aggregate loans (comprised of three loan tranches) from Bank of the Ozarks and a $7.5 million mezzanine loan from Tammany Mezz Investor, LLC, an affiliate of Fisher Brothers.  As of December 31, 2016, Bank of the Ozarks advanced $8.0 million to repay the then existing $8.0 million loan with East West Bank.

Presented in the table below is the breakdown of the Union Square construction financing as of September 30, 2017:

(Dollars in thousands)		Facility Limits and Advances
Financing Component	Lender	Facility Limit		Advanced-to- Date		Remaining Facility		Interest Rate(1)	Maturity Date(2)
Mezzanine loan	Tammany Mezz Investor LLC	$	7,500	$	--	$	7,500	Greater of (i) 10.50% and (ii) Adjusted LIBOR + 10%	December 29, 2019
Senior loan, including building and project loan	Bank of the Ozarks		50,000		8,000		42,000	Greater of (i) 4.75% and (ii) Adjusted LIBOR + 4.25%	December 29, 2019
Total Union Square Financing		$	57,500	$	8,000	$	49,500

(1)Not to exceed the New York State maximum lawful borrowing rate, which typically is 16%.

(2)Allowable for up to two (2) extension request options, one (1) year for each extension request.

Cinema 1,2,3 Term Loan

On August 31, 2016, Sutton Hill Properties LLC (“SHP”), a 75% subsidiary of RDI, refinanced its $15.0 million Santander Bank term loan with a different lender, Valley National Bank.  This new $20.0 million loan is collateralized by our Cinema 1,2,3 property and bears an interest rate of 3.25%  per annum, with principal instalments and accruing interest paid monthly. The new loan matures on September 1, 2019, with a one-time option to extend the maturity date for another year.

Bank of America Credit Facility

On March 3, 2016, we amended our $55.0 million credit facility with Bank of America to permit real property acquisition loans.  This amendment provides that the consolidated leverage ratio be reduced by 0.25% from the established levels in the credit facility during the period of such borrowing,with a repayment term based on the earlier of the eighteen months from the date of such borrowing or the maturity date of the credit agreement.  Such modification was not considered substantial in accordance with U.S. GAAP.

Bank of America Line of Credit

In October 2016, the term of this line of credit was extended toOctober 31, 2019.  Such modification was not considered to be substantial under US GAAP.

Westpac Bank Corporate Credit Facility

On April 26, 2017, we extended the maturity of the 1st tranche (general/non-construction credit line) of our Westpac Corporate Credit Facility, $24.5 million (NZ$35.0 million) to December 31, 2018, from March 31, 2018.  We  are currently working on a longer-term renewal of our Westpac Corporate Credit Facility which will replace the existing facility.

U.S. Corporate Office Term Loan

On December 13, 2016, we obtained a ten-year $8.4 million mortgage loan on our new Los Angeles Corporate Headquarters at a fixed annual interest rate of 4.64%.  This loan provided for a second loan upon completion of certain improvements.  On June 26, 2017, we obtained a further $1.5 million under this provision at a fixed annual interest rate of 4.44%.

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Other Liabilities

9 Months Ended

Sep. 30, 2017

Other Liabilities [Abstract]

Other Liabilities

Note 11 – Other Liabilities

Other liabilities are summarized as follows:

(Dollars in thousands)	September 30, 2017		December 31, 2016
Current liabilities
Lease liability	$	5,900	$	5,900
Liability for demolition costs		2,934		5,914
Accrued pension		2,736		2,223
Security deposit payable		90		77
Other		--		17
Other current liabilities	$	11,660	$	14,131
Other liabilities
Straight-line rent liability	$	12,759	$	12,413
Lease make-good provision		5,596		5,146
Accrued pension		5,354		5,732
Environmental reserve		1,656		1,656
Deferred revenue - real estate		3		4,398
Acquired leases		209		267
Interest rate swap		--		58
Other		479		495
Other liabilities	$	26,056	$	30,165

On August 29, 2014, the Supplemental Executive Retirement Plan (“SERP”) that has been effective since March 1, 2007, was ended and replaced in accordance with the terms of a pension annuity.  As a result of the termination of the SERP program, the accrued pension liability of $7.6 million was reversed and replaced with this pension annuity liability of $7.5 million.  The valuation of the liability is based on the present value of $10.2 million discounted at a rate of 4.25% over a 15- year term, resulting in a monthly payment of $57,000.  The discount rate of 4.25% has been applied since 2014 to determine the net periodic benefit cost and plan benefit obligation and is expected to be used in future years.  The discounted value of $2.7 million (which is the difference between the estimated payout of $10.2 million and the present value of $7.5 million) as of August 29, 2014 will be amortized and expensed based on the 15-year term.  In addition, the accumulated actuarial loss of $3.1 million recorded, as part of other comprehensive income will also be amortized based on the 15-year term.

As a result of the above, included in our current and non-current liabilities are accrued pension costs of $8.1million at September 30, 2017.  The benefits of our pension plans are fully vested and thereforeno service costs were recognized for thequarter and nine months ended September 30, 2017 and 2016.  Our pension plans are unfunded.  During the quarter and nine months ended September 30, 2017, the interest cost was $45,000 and $135,000, respectively, and actuarial loss was $52,000 and $155,000, respectively.  During the quarter and nine months ended September 30, 2016, the interest cost was $45,000 and $135,000, respectively, and actuarial loss was $52,000 and $116,000, respectively.

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Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2017

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income

Note 12 – Accumulated Other Comprehensive Income

The following table summarizes the changes in each component of accumulated other comprehensive income attributable to RDI:

(Dollars in thousands)	Foreign Currency Items		Unrealized Gain (Losses) on Available-for-Sale Investments		Accrued Pension Service Costs		Total
Balance at January 1, 2017	$	14,784	$	10	$	(2,719)	$	12,075
Net current-period other comprehensive income		10,173		(4)		155		10,324
Balance at September 30, 2017	$	24,957	$	6	$	(2,564)	$	22,399

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Commitments And Contingencies

9 Months Ended

Sep. 30, 2017

Commitments And Contingencies [Abstract]

Commitments And Contingencies

Note 13 – Commitments and Contingencies

Litigation

Derivative Litigation and James J. Cotter, Jr. Employment Arbitration

On June 12, 2015, the Board of Directors terminated James J. Cotter, Jr. as the President and Chief Executive Officer of our Company.  That same day, Mr. Cotter, Jr. filed a lawsuit, styled as both an individual and a derivative action, and titled “James J. Cotter, Jr., individually and derivatively on behalf of Reading International, Inc. vs. Margaret Cotter, et al.” Case No,: A-15-719860-V, Dept. XI, against our Company and each of our then sitting Directors (Ellen Cotter, Margaret Cotter, Guy Adams, William Gould, Edward Kane, Douglas McEachern, and Tim Storey) in the Eighth Judicial District Court of the State of Nevada for Clark County (the “Nevada District Court”).   Since that date, our Company has been engaged in ongoing litigation with Mr. Cotter, Jr. with respect to his claims against our Directors. Mr. Cotter, Jr. has over this period of time twice amended his complaint, removing his individual claims and withdrawing his claims against Tim Storey (but reserving the right to reinstitute such claims), adding claims relating to actions taken by our Board since the filing of his original complaint and adding as defendants two of our directors who were not on our Board at the time of his termination:  Judy Codding and Michael Wrotniak.  Mr. Cotter, Jr.’s lawsuit, as amended from time to time, is referred to herein as the “Cotter Jr. Derivative Action” and his complaint, as amended from time to time, is referred to herein as the “Cotter Jr. Derivative Complaint.”  The defendant directors named in the Cotter Jr. Derivative Complaint, from time to time, are referred to herein as the “Defendant Directors.”

The Cotter Jr. Derivative Complaint alleges among other things, that the Defendant Directors breached their fiduciary duties to the Company by terminating  Mr. Cotter, Jr. as President and Chief Executive Officer,  continuing to make use of the Executive Committee that has been in place for more than the past ten years (but which no longer includes Mr. Cotter, Jr. as a member), making allegedly potentially misleading statements in our Company’s press releases and filings with the SEC, paying certain compensation to Ellen Cotter, allowing the Cotter Estate to make use of Class A Common Stock to pay for the exercise of certain long outstanding stock options to acquire 100,000 shares of Class B Common Stock held of record by the Cotter Estate and determined by the Nevada District Court to be assets of the Cotter Estate, and allowing Ellen Cotter and Margaret Cotter to vote the 100,000 shares of Class B Common Stock issued upon the exercise of such options, appointing Ellen Cotter as President and Chief Executive Officer, appointing Margaret Cotter as Executive Vice President-Real Estate Management and Development-NYC, and the way in which the Board handled an unsolicited indication of interest made by a third party to acquire all of the stock of our Company. In the lawsuit, Mr. Cotter, Jr. seeks, among other things, reinstatement as President and Chief Executive Officer, a declaration that Ellen Cotter and Margaret Cotter may not vote the above referenced 100,000 shares of Class B Stock, and alleges as damages fluctuations in the price for our Company’s shares after the announcement of his termination as President and Chief Executive Officer and certain unspecified damages to our Company’s reputation.

In addition, our Company is in arbitration with Mr. Cotter, Jr.  (Reading International, Inc. v. James J. Cotter, AAA Case No. 01-15-0004-2384, filed July 2015) (the “Cotter Jr. Employment Arbitration”) seeking declaratory relief and defending claims asserted by Mr. Cotter, Jr.  On January 20, 2017, Mr. Cotter Jr. filed a First Amended Counter-Complaint which includes claims of breach of contract, contractual indemnification, retaliation, wrongful termination in violation of California Labor Code § 1102.5, wrongful discharge, and violations of California Code of Procedure § 1060 based on allegations of unlawful and unfair conduct. Mr. Cotter, Jr. seeks compensatory damages estimated by his counsel at more than $1.2 million, plus unquantified special and punitive damages, penalties, interest and attorney’s fees.  On April 9, 2017, the Arbitrator granted without leave to amend the Company’s motion to dismiss Mr. Cotter, Jr.’s claims for retaliation, violation of labor code §1102.5 and wrongful discharge in violation of public policy.

Mr. Cotter, Jr. also brought a direct action in the Nevada District Court (James J. Cotter, Jr. v. Reading International, Inc., a Nevada corporation; Does 1-100 and Roe Entities, 1-100, inclusive, Case No. A-16-735305-B) seeking advancement of attorney’s fees incurred in the Cotter Jr. Employment Arbitration.   Summary judgment was entered against Mr. Cotter, Jr. with respect to that direct action on October 3, 2016.

For a period of approximately 12 months, between August 6, 2015 and August 4, 2016, our Company and our directors other than Mr. Cotter, Jr. were subject to a derivative lawsuit  filed in the Nevada District Court captioned T2 Partners Management, LP, a Delaware limited partnership, doing business as Kase Capital Management; T2 Accredited Fund, LP, a Delaware limited partnership, doing business as Kase Fund; T2 Qualified Fund, LP, a Delaware limited partnership, doing business as Kase Qualified Fund; Tilson Offshore Fund, Ltd, a Cayman Islands exempted company; T2 Partners Management I, LLC, a Delaware limited liability company, doing business as Kase Management; T2 Partners Management Group, LLC, a Delaware limited liability company, doing business as Kase Group; JMG Capital Management, LLC, a Delaware limited liability company, Pacific Capital Management, LLC, a Delaware limited liability company (the “T2 Plaintiffs”), derivatively on behalf of Reading International, Inc. vs. Margaret Cotter, Ellen Cotter, Guy Adams, Edward Kane, Douglas McEachern, Timothy Storey, William Gould and Does 1 through 100, inclusive, as defendants, and, Reading International, Inc., a Nevada corporation, as Nominal Defendant.  That complaint was subsequently amended (as amended the “T2 Derivative Complaint”) to add as defendants Directors Judy Codding and Michael Wrotniak (collectively with the directors initially named the “T2 Defendant Directors”) and S. Craig Tompkins, our Company’s legal counsel (collectively with the T2 Defendant Directors, the “T2 Defendants”).    The T2 Derivative Action was settled pursuant to a Settlement Agreement between the parties dated August 4, 2016, which as modified was approved by the Nevada District Court on October 6, 2016.   The District Court’s Order provided for the dismissal with prejudice of all claims contained in the T2 Plaintiffs’ First Amended Complaint and provide that each side would be responsible for its own attorneys’ fees. 

In the joint press release issued by our Company and the T2 Plaintiffs on July 13, 2016, representatives of the T2 Plaintiffs stated as follows:  "We are pleased with the conclusions reached by our investigations as Plaintiff Stockholders and now firmly believe that the Reading Board of Directors has and will continue to protect stockholder interests and will continue to work to maximize shareholder value over the long-term.  We appreciate the Company's willingness to engage in open dialogue and are excited about the Company's prospects. Our questions about the termination of James Cotter, Jr., and various transactions between Reading and members of the Cotter family-or entities they control-have been definitively addressed and put to rest. We are impressed by measures the Reading Board has made over the past year to further strengthen corporate governance.  We fully support the Reading Board and management team and their strategy to create stockholder value.”

The T2 Plaintiffs alleged in their T2 Derivative Complaint various violations of fiduciary duty, abuse of control, gross mismanagement and corporate waste by the T2 Defendant Directors.  More specifically the T2 Derivative Complaint sought the reinstatement of James J. Cotter, Jr. as President and Chief Executive Officer, an order setting aside the election results from the 2015 Annual Meeting of Stockholders, based on an allegation that Ellen Cotter and Margaret Cotter were not entitled to vote the shares of Class B Common Stock held by the Cotter Estate and the Cotter Trust, and certain monetary damages, as well as equitable injunctive relief, attorney fees and costs of suit.   In May 2016, the T2 Plaintiffs unsuccessfully sought a preliminary injunction (1) enjoining the Inspector of Elections from counting at our 2016 Annual Meeting of Stockholders any proxies purporting to vote either the 327,808 Class B shares held of record by the Cotter Estate or the 696,080 Class B shares held of record by the Cotter Trust, and (2) enjoining Ellen Cotter, Margaret Cotter and James J. Cotter, Jr. from voting the above referenced shares at the 2016 Annual Meeting of Stockholders.  This request for preliminary injunctive relief was denied by the Nevada District Court after a hearing on May 26, 2016.

On September 15, 2016, Mr. Cotter, Jr. filed a writ with the Nevada Supreme Court seeking a determination that the Nevada District Court erred in its determination that, by communicating his thoughts about the Cotter Jr. Derivative Action with counsel for the T2 Plaintiffs without any confidentiality or joint representation agreement, Mr. Cotter, Jr’s counsel waived any attorney work product privilege that might otherwise have been applicable to such communication.  Our Company is of the view that any privilege was waived by the unprotected communication of such thoughts to a third party such as counsel to the T2 Plaintiffs.  On March 23, 2017, the Nevada Supreme Court set oral argument on the matter for the next available calendar.

On February 14, 2017, we filed a writ with the Nevada Supreme Court seeking a determination that the Nevada District Court erred in its decision to allow Mr. Cotter, Jr. access to certain communications between the Defendant Directors and Company counsel, which the Defendant Directors and our Company believe to be subject to the attorney-client communication privilege. Specifically, our writ asks the Nevada Supreme Court to determine whether the fact that the Defendant Directors are relying upon the Nevada business judgment rule constitutes, in whole or in part, a waiver of the attorney-client privilege held by us. 

Our request was substantially mooted by the decision in July 2017 in the Wynn Resorts Case, in which similar issues were considered.  In that case, the Nevada Supreme Court stated:

Accordingly, we reiterate that the business judgment rule goes beyond shielding directors from personal liability in decision-making.  Rather, it also ensures that courts defer to the business judgment of corporate executives and prevents courts from “substitute[ing] [their] own notions of what is or is not sound business judgment,” if “the directors of a corporation acted on an informed basis, in good faith and in the honest belief that the action taken was in the best interests of the company.”  [Citations omitted]

And,

We agree that “it is the existence of legal advice that is material to the question of whether the board acted with due care, not the substance of that advice.”  Accordingly, the district court erred when it compelled Wynn Resorts to produce any attorney client privileged . . . documents on the basis that Wynn Resorts waive the attorney-client privilege of those documents by claiming the business judgment rule as a defense.  [Citations omitted]. 

On September 28, 2017 the Nevada Supreme Court concluded judicial economy would best be served if petitioners asked the District Court to reconsider the challenge based on the Wynn Resorts findings.   Based in large part on the Nevada Supreme Court’s decision in Wynn Resorts, The Nevada District Court has now denied Mr. Cotter, Jr.’s motion to discover advice given by Company counsel to the Defendant Directors.

Discovery is now complete, and we believe it likely that the Cotter, Jr. Derivative Action will likely go to a jury trial in the first quarter of 2018.

The Cotter Jr. Employment Arbitration is in the discovery phase.

Our Company is and was legally obligated to cover the costs and expenses incurred by our Defendant Directors in defending the Cotter Jr. Derivative Action and the T2 Derivative Action.  Furthermore, although in a derivative action, the stockholder plaintiff seeks damages or other relief for the benefit of our Company, and not for the stockholder plaintiff’s individual benefit and, accordingly, we are, at least in theory, only a nominal defendant, as a practical matter, because Mr. Cotter, Jr. is also seeking, among other things, an order that our Board’s determination to terminate Mr. Cotter, Jr. was ineffective and that he be reinstated as the President and Chief Executive Officer of our Company and also limiting the use of our Board’s Executive Committee, and as he asserts potentially misleading statements in certain press releases and filings with the SEC, our Company is also incurring on its own account significant cost and expense defending the decision to terminate Mr. Cotter, Jr. as President and Chief Executive Officer, its board committee structure, and the adequacy of those press releases and filings, in addition to its costs incurred in responding to discovery demands and satisfying indemnity obligations to the Defendant Directors.  Likewise, in connection with the T2 Derivative Action, our Company incurred substantial costs defending claims related to the defense of claims relating to the termination of Mr. Cotter, Jr., opposing his reinstatement, and defending the conduct of its annual meetings.  Cost incurred in the Cotter Jr. Employment Arbitration and in the defense of the Cotter Jr. Attorney’s fees case were direct costs of our Company.

The Directors and Officer’s Insurance Policy, in the amount of $10 million, being used to cover a portion of the costs of defending the Cotter Jr. Derivative Action, has been exhausted.  We are now covering the defense costs of the Defendant Directors, in addition to our own costs incurred in connection with the Cotter Jr. Derivative Action.  

On August 7, 2017, our Board  appointed a Special Independent Committee to, among other things, review, consider, deliberate, investigate, analyze, explore, evaluate, monitor and exercise general oversight of any and all activities of the Company directly or indirectly involving, responding to or relating to the Cotter  Jr. Derivative Action, the Cotter Jr. Employment Arbitration and any other litigation or arbitration matters involving any one or more of Ellen Cotter, Margaret Cotter, James J. Cotter, Jr., the Cotter Estate and/or the Cotter Living Trust.   Directors Judy Codding, William Gould and Douglas McEachern have been appointed to serve on this Special Independent Committee.

The STOMP Arbitration 

In April 2015, Liberty Theatres, LLC (“Liberty”), a wholly owned subsidiary of the Company, commenced an American Arbitration Association arbitration proceeding (Case No.:01-15-0003-3728) against The Stomp Company Limited Partnership (“Stomp”), the producer of the show STOMP, in response to Stomp’s purported termination of their license agreement with Liberty relating to such show.  STOMP has been playing at our Orpheum Theatre in New York City for 23 years and still continues to play to date.  Liberty sought specific performance, injunctive and declaratory relief and damages.  Stomp counterclaimed for unspecified damages, alleging that Liberty has interfered with the Stomp’s endeavors to move the show to another Off-Broadway theater. Stomp based its purported termination of the license agreement upon the alleged deficient condition of the Orpheum Theater.

On December 18, 2015, the Arbitrator issued his Partial Final Award of Arbitration, providing for, among other things (i) the issuance of a permanent injunction prohibiting Stomp from “transferring or taking actions to market, promote, or otherwise facilitate any transfer of, STOMP to another theatre in New York City having fewer than 500 seats without Liberty’s prior written consent”, (ii) the Stomp’s Notice of Termination purportedly terminating the parties’ license agreement was invalid, null and void and the License Agreement remains in full force and effect, and (iii) the award to Liberty of its reasonable attorneys’ fees in an amount to be determined by the Arbitrator.  

In explaining his decision to award Liberty its reasonable attorneys’ fees, the Arbitrator stated as follows:  “Liberty is entitled to such an award [of attorneys’ fees] not only because it is the prevailing party in this proceeding, but because [the Producer] unfairly disparaged the Orpheum and caused Liberty to incur attorneys’ fees in order to address and resolve [the Producer’s] groundless and frivolous allegations with respect to the Orpheum’s condition, Liberty’s performance under the License Agreement, and Stomp’s reasons for seeking to transfer STOMP to a larger theatre.”

In April 2016, we received a Final Award in our arbitration with Stomp.   The Final Award awards us $2.3 million in attorney’s fees and costs.  In September 2016, the parties agreed on the payment terms of the Final Award (“Payment Agreement”), on a basis that is intended to allow recovery by Liberty of the entire Final Award (plus interest at 4%), while at the same time allowing the show to continue playing at our Orpheum Theater.  Under the Payment Agreement, Stomp have paid a total of $1.6million to-date, $1.1 million of which were received during the nine months ended September 30, 2017.   The remaining amount is to be paid over time, with final payment due and payable in June 2019.  We have filed a judgment of the arbitral award against Stomp with the New York Supreme Court to protect Liberty in the event Stomp defaults on the Payment Agreement.  STOMP continues to play at our Orpheum Theater under a license agreement that was amended by the Payment Agreement.

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Non-controlling Interests

9 Months Ended

Sep. 30, 2017

Non-controlling Interests [Abstract]

Non-controlling Interests

Note 14 – Non-controlling Interests

These are composed of the following enterprises:

· Australia Country Cinemas Pty Ltd. -- 25% noncontrolling interest owned by Panorama Cinemas for 21st Century Pty Ltd.;

· Shadow View Land and Farming, LLC -- 50% noncontrolling membership interest owned by either the estate of Mr. James J. Cotter, Sr. (the “Cotter Estate”) and/or the James J. Cotter, Sr. Living Trust (the “Cotter Trust”); and,

· Sutton Hill Properties, LLC -- 25% noncontrolling interest owned by Sutton Hill Capital, LLC (which in turn is 50% owned by Cotter Estate and/or the Cotter Trust).

The components of noncontrolling interests are as follows:

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Australian Country Cinemas, Pty Ltd	$	228	$	264
Shadow View Land and Farming, LLC		1,885		1,980
Sutton Hill Properties, LLC		2,082		2,174
Noncontrolling interests in consolidated subsidiaries	$	4,195	$	4,418

The components of income/(loss) attributable to noncontrolling interests are as follows:

	Quarter Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)	2017		2016		2017		2016
Australian Country Cinemas, Pty Ltd	$	72	$	79	$	184	$	137
Shadow View Land and Farming, LLC		(132)		(12)		(158)		(29)
Sutton Hill Properties, LLC		(38)		(5)		(92)		(96)
Net income (loss) attributable to noncontrolling interests	$	(98)	$	62	$	(66)	$	12

Summary of Controlling and Noncontrolling Stockholders’ Equity

A summary of the changes in controlling and noncontrolling stockholders’ equity is as follows:

(Dollars in thousands)		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at January 1, 2017	$	142,197	$	4,418	$	146,615
Net income		23,619		(66)		23,553
Increase in additional paid in capital		936		--		936
Treasury stock purchased		(6,475)		--		(6,475)
Contributions from noncontrolling stockholders - SHP		--		63		63
Distributions to noncontrolling stockholders		--		(240)		(240)
Accumulated other comprehensive income		10,323		20		10,343
Equity at September 30, 2017	$	170,600	$	4,195	$	174,795
(Dollars in thousands)		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at January 1, 2016	$	132,865	$	4,331	$	137,196
Net income (loss)		9,054		12		9,066
Increase in additional paid in capital		447		--		447
Contributions from noncontrolling stockholders - SHP		--		268		268
Distributions to noncontrolling stockholders		--		(194)		(194)
Accumulated other comprehensive loss		9,414		14		9,428
Equity at September 30, 2016	$	151,780	$	4,431	$	156,211

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Stock-Based Compensation and Stock Repurchases

9 Months Ended

Sep. 30, 2017

Stock-Based Compensation and Stock Repurchases [Abstract]

Stock-Based Compensation and Stock Repurchases

Note 15 –Stock-Based Compensation and Stock Repurchases

Employee and Director Stock Option Plan

The Company may grant stock options and other share-based payment awards of our Class A Common Stock to eligible employees, directors, and consultants under the 2010 Stock Incentive Plan (the “Plan”). The aggregate total number of shares of the Class A Common Stock authorized for issuance under the Plan is1,250,000.   As of September 30, 2017, we had 302,540 shares remaining for future issuances.

Since the adoption of the Plan in 2010, the Company has granted awards primarily in the form of stock options.  In the 1st quarter of 2016, the Company started to award restricted stock units (“RSUs”) to directors and certain members of management.  Stock options are generally granted at exercise prices equal to the grant-date market prices and typically expire no later than five years from the grant date.  In contrast to a stock option where the grantee buys the Company’s share at an exercise price determined on grant date, an RSU entitles the grantee to receive one share for every RSU based on a vesting plan.  At the discretion of our Compensation and Stock Options Committee, the vesting period of stock options and RSUs granted to employees ranges from zero to four years. Grants to directors and certain executive officers are subject to Board approval.  At the time the options are exercised or RSUs vest, at the discretion of management, we will issue treasury shares or make a new issuance of shares to the option or RSU holder.

Stock Options

We estimate the grant-date fair value of our stock options using the Black-Scholes option-valuation model, which takes into account assumptions such as the dividend yield, the risk-free interest rate, the expected stock price volatility, and the expected life of the options.  We expense the estimated grant-date fair values of options over the vesting period on a straight-line basis. Based on our historical experience, the “deemed exercise” of expiring in-the-money options and the relative market price to strike price of the options, we have not hereto estimated any forfeitures of vested or unvested options.

For the nine months ended September 30, 2017 and 2016, respectively, the weighted average assumptions used in the option-valuation model were as follows:

	Nine Months Ended September 30
	2017			2016
Stock option exercise price	$	15.94	11.87
Risk-free interest rate		1.66%	1.20%
Expected dividend yield		--	--
Expected option life in years		3.75	3.75
Expected volatility		24.95%	25.01%
Weighted average fair value	$	3.45	2.49

For the quarter ended September 30, 2017 and 2016, we recorded compensation expense of $86,000 and$74,000, respectively.For the nine months ended September 30, 2017 and 2016, we recorded compensation expense of $223,000 and$264,000, respectively.  At September 30, 2017, the total unrecognized estimated compensation expense related to non-vested stock options was $915,000, which we expect to recognize over a weighted average vesting period of 1.93 years.  The intrinsic, unrealized value of all options outstanding, vested and expected to vest, at September 30, 2017 was $3.0 million, of which 79.5% are currently exercisable.

The following table summarizes the information of options outstanding and exercisable as of September 30, 2017 and December 31, 2016:

	Outstanding Stock Options - Class A Shares
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Years of Contractual Life	Aggregate Intrinsic Value
Balance - December 31, 2015	486,565	$	8.68	2.89	$	2,188,011
Granted	169,327		11.87
Exercised	(46,815)		9.50		$	220,002
Forfeited	(74,000)		7.02
Balance - December 31, 2016	535,077	$	9.84	2.61	$	3,615,191
Granted	169,762		15.94
Exercised	(107,750)		8.94		$	595,873
Forfeited	(2,500)		6.23
Balance - September 30, 2017	594,589	$	11.76	3.02	$	3,007,071

Restricted Stock Units

We estimate the grant-date fair values of our RSUs using the Company’s stock price at grant-date and record such fair values as compensation expense over the vesting period on a straight-line basis.  The following table summarizes the status of the RSUs granted to-date as of September 30, 2017:

	Outstanding Restricted Stock Units
	RSU Grants (in units)		Total	Vested,	Unvested,
Grant Date	Directors	Management	Grants	September 30, 2017	September 30, 2017
March 10, 2016	35,147	27,381	62,528	41,992	20,536
April 11, 2016	--	5,625	5,625	1,406	4,219
March 23, 2017	30,681	32,463	63,144	--	63,144
August 29, 2017	--	7,394	7,394	--	7,394
Total	65,828	72,863	138,691	43,398	95,293

These RSU awards vest 25% at the end of each year for 4 years (in the case of members of management) and vest 100%on the first business day of the year following in which such RSUs were granted (in the case of directors).  For the quarter ended September 30, 2017 and 2016, we recorded compensation expense of $182,000 and$130,000, respectively.  For the nine months ended September 30, 2017 and 2016, we recorded compensation expense of $482,000 and$290,000, respectively.  The total unrecognized compensation expense related to the non-vested RSUs was $1.0 million as of September 30, 2017, which we expect to recognize over a weighted average vesting period of 1.0 year.

Stock Repurchase Program

On March 2, 2017, the Company's Board of Directors authorized management, at its discretion, to spend up to an aggregate of $25.0 million to acquire shares of Reading’s Class A Common Stock.  The previously approved stock repurchase program, which allowed management to spend up to an aggregate of $10.0 million to acquire shares of Reading’s Non-Voting Common Stock, was completed as of December 31, 2016.

The repurchase program allows Reading to repurchase its shares in accordance with the requirements of the SEC on the open market, in block trades and in privately negotiated transactions, depending on market conditions and other factors.  All purchases are subject to the availability of shares at prices that are acceptable to Reading, and accordingly, no assurances can be given as to the timing or number of shares that may ultimately be acquired pursuant to this authorization.

Under the stock repurchase program, the Company has reacquired 403,156 shares of Class A Common Stock for $6.4million at an average price of $15.92 per share (excluding transaction costs) to-date.  This leaves $18.6 million available under the March 2, 2017 program for repurchase as of September 30, 2017.

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Derivative Instruments

9 Months Ended

Sep. 30, 2017

Derivative Instruments [Abstract]

Derivative Instruments

Note 16 – Derivative Instruments

From time-to-time, we  purchase interest rate derivative instruments to hedge the interest rate risk that results from the variability of our floating-rate borrowings. Our use of derivative transactions is intended to reduce long-term fluctuations in cash flows caused by market movements. All derivative instruments are recorded on the balance sheet at fair value with changes in fair value through interest expense in the Consolidated Statement of Income. As of September 30, 2017, we do not have material derivative positions nor have designated any of these derivatives as accounting hedges.

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Fair Value Measurements

9 Months Ended

Sep. 30, 2017

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 17 – Fair Value Measurements

ASC 820, Fair Value Measurement establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value.  The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:

· Level 1: Quoted market prices in active markets for identical assets or liabilities;

· Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and,

· Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

As of September 30, 2017 and December 31, 2016, we do not have material financial assets and financial liabilities carried and measured at fair value on a recurring basis.

The following tables summarize our financial liabilities that are carried at cost and measured at fair value on a non-recurring basis as of September 30, 2017 and December 31, 2016, by level within the fair value hierarchy.

			Fair Value Measurement at September 30, 2017
(Dollars in thousands)	Carrying Value(1)		Level 1		Level 2		Level 3		Total
Notes payable	$	123,399	$	--	$	--	$	122,563	$	122,563
Subordinated debt		27,913		--		--		15,854		15,854
	$	151,312	$	--	$	--	$	138,417	$	138,417

			Fair Value Measurement at December 31, 2016
(Dollars in thousands)	Carrying Value(1)		Level 1		Level 2		Level 3		Total
Notes payable	$	120,622	$	--	$	--	$	121,204	$	121,204
Subordinated debt		27,913		--		--		15,247		15,247
	$	148,535	$	--	$	--	$	136,451	$	136,451

(1)These balances are presented before any deduction for deferred financing costs.

Following is a description of the valuation methodologies used to estimate the fair value of our financial assets and liabilities. There have been no changes in the methodologies used at September 30, 2017 and December 31, 2016.

· Level 1 investments in marketable securities primarily consist of investments associated with the ownership of marketable securities in U.S. and New Zealand. These investments are valued based on observable market quotes on the last trading date of the reporting period.

· Level 2 derivative financial instruments are valued based on discounted cash flow models that incorporate observable inputs such as interest rates and yield curves from the derivative counterparties. The credit valuation adjustments associated with our non-performance risk and counterparty credit risk are incorporated in the fair value estimates of our derivatives.  As of September 30, 2017 and December 31, 2016, we concluded that the credit valuation adjustments were not significant to the overall valuation of our derivatives.  

· Level 3 borrowings include our secured and unsecured notes payable, trust preferred securities and other debt instruments.  The borrowings are valued based on discounted cash flow models that incorporate appropriate market discount rates. We calculated the market discount rate by obtaining period-end treasury rates for fixed-rate debt, or LIBOR for variable-rate debt, for maturities that correspond to the maturities of our debt, adding appropriate credit spreads derived from information obtained from third-party financial institutions.  These credit spreads take into account factors such as our credit rate, debt maturity, types of borrowings, and the loan-to-value ratios of the debt.

The Company’s financial instruments also include cash, cash equivalents, receivables and accounts payable.  The carrying values of these financial instruments approximate the fair values due to their short maturities. Additionally, there were no transfers of assets and liabilities between levels 1, 2, or 3 during the quarter and nine monthsended September 30, 2017 and September 30, 2016.

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Insurance Recoveries

9 Months Ended

Sep. 30, 2017

Insurance Recoveries [Abstract]

Insurance Recoveries

Note 18 – Insurance Recoveries

On November 14, 2016, we filed an initial insurance claim with our Insurer with respect to earthquake damage to our parking building adjacent to our Courtenay Central entertainment-themed center (“ETC”) in Wellington, New Zealand and to the ETC itself.  Also, we filed a separate business interruption claim to recover lost profits as a result of the earthquake. As of December 31, 2016, we recorded a recoverable asset to the extent of our incurred losses that we deemed probable of recoverability under our insurance claim,consisting of the (i) written down carrying value of the damaged parking building and (ii) a significant portion of the derivative loss contingencies on demolition activities.   We received an initial settlement from our Insurer in December 2016 amounting to $5.0 million (NZ$7.1 million).

In April 2017, our Insurer concluded that our losses exceeded the earthquake coverage policy limit of $25.0 million (NZ$36.0 million). We received a final settlement of US$20.0 million  (NZ$28.9 million) in May 2017, taking us to the policy limit.

Our allocation of the total insurance proceeds to the various covered risks and the bases for such allocation are described below:

Covered Risks	Basis for Allocation (Dollars in thousands)		Commentary	% Allocation	Allocation of Insurance Proceeds (Dollars in thousands)
Property damage	NZ$	44,808	Estimated replacement cost for Courtenay Central parking building, as determined by an independent construction cost consultant.	81%	NZ$	29,093
Demolition costs		7,276	Actual costs incurred and best estimates of remaining costs to complete the demolition activities of Courtenay Central parking building	13%		4,724
Business interruption		3,415	Estimated lost profits during the closure period relating to our various revenue-generating components within Courtenay Central ETC (including our cinema and property operations)	6%		2,217
Total	NZ$	55,499		100%	NZ$	36,034

As a result of the final settlement, we recorded total insurance gain of $10.7 million (NZ$14.8 million) during the quarter ended June 30, 2017, determined as follows:

	Recoverable Components
	Non-Operating Income						Operating Income
(Dollars in thousands)	Property Damage(1)		Demolition Costs(1)		Total		Business Interruption(2)		Grand Total
Insurance Proceed Allocation	NZ$	29,093	NZ$	4,724	NZ$	33,817	NZ$	2,217	NZ$	36,034
Less: Recorded values of Recoverable Components, June 30, 2017
Recorded as of December 31, 2016		13,451		7,276		20,727		--		20,727
Changes in estimates and others		347		--		347		111		458
		13,798		7,276		21,074		111		21,185
Net Impact in Current Earnings (in NZ$)	NZ$	15,295	NZ$	(2,552)	NZ$	12,743	NZ$	2,106	NZ$	14,849
Net Impact in Current Earnings (in US$)	$	11,063	$	(1,846)	$	9,217	$	1,523	$	10,740

(1)The net impact to current earnings of $9.2 million (NZ$12.7 million) is recorded as “Gain on Insurance Recoveries” in our Consolidated Statement of Income.

(2)The impact to current earnings of $1.5 million (NZ$2.1 million) is recorded as part of the applicable segment revenues in our Consolidated Statement of Income.

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Summary Of Significant Accounting Policies (Policy)

9 Months Ended

Sep. 30, 2017

Summary Of Significant Accounting Policies [Abstract]

Basis Of Consolidation

Basis of Consolidation

The accompanying consolidated financial statements include the accounts of the Company’s wholly-owned subsidiaries as well as majority-owned subsidiaries that the Company controls, and should be read in conjunction with the Company’s Annual Report on Form 10-K as of and for the year-ended December 31, 2016 (“2016 Form 10-K”).  All significant intercompany balances and transactions have been eliminated on consolidation.  These consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X of the Securities and Exchange Commission (“SEC”).  As such, they do not include all information and footnotes required by U.S. GAAP for complete financial statements. We believe that we have included all normal and recurring adjustments necessary for a fair presentation of the results for the interim period. Operating results for the quarter and nine months ended September 30, 2017 are not necessarily indicative of the results that may be expected for the year ending December 31, 2017.

Use Of Estimates

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and footnotes thereto. Significant estimates include (i) projections we make regarding the recoverability and impairment of our assets (including goodwill and intangibles), (ii) valuations of our derivative instruments, (iii) recoverability of our deferred tax assets, (iv) estimation of gift card and gift certificate breakage which we concluded to have remote likelihood of redemption, and (v) allocation of insurance proceeds to various recoverable components. Actual results may differ from those estimates.

Reclassifications

Reclassifications

Certain reclassifications have been made in the 2016 comparative information in our consolidated financial statements and accompanying notes to conform to the 2017 presentation.  These reclassifications relate to the following items, for which we assessed to be allowable under Regulation S-X, Rule 10.01 due to immaterial balances:

(i) reclassification of Investment in Reading International Trust I as part of “Other assets” line in our consolidated balance sheets;

(ii) net-off of interest income against interest expense in our consolidated statements of income;

(iii) combination of certain components in our consolidated statements of comprehensive income into one line, called “Others”; and,

(iv) combination of certain amortization items in our consolidated statement of cash flows (under Operating Activities section) into a singular line, called “Other amortization”.

Recently Adopted And Issued Accounting Pronouncements

Recently Adopted and Issued Accounting Pronouncements

Adopted:

On January 1, 2017, the Company adopted ASU 2016-09,  Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.  This new guidance, which became effective for fiscal years beginning after December 15, 2016, provides for the simplification of several aspects of the accounting for share-based payment transactions, including (i) accounting for tax benefits in excess of compensation cost and tax deficiencies, (ii) accounting for forfeitures, and (iii) classification on the statement of cash flows. The only significant impact of the adoption of this new guidance to us is the immediate recognition of excess tax benefits (or “windfalls”) and tax deficiencies (or “shortfalls”) in the consolidated statement of income.  Previously, (i) tax windfalls were recorded in additional paid-in capital (“APIC”) in the consolidated statement of stockholders’ equity and (ii) tax shortfalls were recorded in APIC to the extent of previous windfalls and then to the consolidated statement of income. 

Issued:

In March 2017, the FASB issued ASU 2017-07, Compensation—Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.  The amendments in this Update (i) require that an employer disaggregate the service cost component from the other components of net benefit cost, and (ii) provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the income statement and allow only the service cost component of net benefit cost to be eligible for capitalization.  The new guidance is effective for the Company on January 1, 2018.  Early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance.  We do not anticipate the adoption of ASU 2017-07 to have a material impact on our consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.  This new guidance removes the second step of the two-step impairment test for measuring goodwill and is to be applied on a prospective basis only. The new guidance is effective for the Company on January 1, 2020, including interim periods within the year of adoption.  Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.  We do not anticipate the adoption of ASU 2017-04 to have a material impact on our consolidated financial statements.

Also, in January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business.  This ASU provides that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the asset is not a “business”,thus reducing the number of transactions that need further evaluation for business combination.   This becomes effective for the Company on January 1, 2018.   We do not expect the ASU 2017-01 to be applicable to our consolidated financial statements in the near term unless we enter into a definitive business acquisition transaction.

Further, in January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments—Equity Method and Joint Ventures (Topic 323): Amendments to SEC Paragraphs Pursuant to Staff Announcements at the September 22, 2016 and November 17, 2016 EITF Meetings.  This ASU requires issuers to disclose the effect that recently issued accounting standards will have on their financial statements when adopted in a future period.   In accordance with this disclosure requirement, we provide below our initial analysis of the impact of the following recently issued standards (including any amendments prior to adoption) that are effective in future periods:

1. ASU 2014-09, Revenue from Contracts with Customers (Topic 606) – FASB issued this new guidance, which becomes effective for us beginning January 1, 2018, to achieve a consistent application of revenue recognition within the U.S., resulting in a single revenue model to be applied by reporting companies under U.S. GAAP.  We do not currently believe the proposed guidance will have a material impact to our cinema exhibition business.  We are in the process of completing an analysis to ensure full compliance prior to the effective date.  In regards to ASUs subsequently issued that amend or are related to ASU 2014-09, we disclose our initial analysis as follows:

· ASU 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products (Subtopic 405-20) – FASB issued this new guidance on extinguishment of liabilities, which becomes effective to us beginning January 1, 2018, related to prepaid stored-value products (such as our gift cards and gift certificates) based on the same breakage model required by Topic 606, Revenue from Contracts with Customers.  Accordingly, issuers will be required to recognize the expected breakage amount (i.e., derecognize the liability) either (1) proportionally in earnings as redemptions occur, or (2) when redemption is remote. While this guidance is not applicable until 2018, we have effectively applied this through our recording of the gift card breakage income as a change in accounting policy as reported in our 2016 Form 10-K with retrospective application to January 1, 2014. As a result, wedo not anticipate that the adoption of ASU 2016-04 will have a material impact on the Company’s consolidated financial statements and related disclosures.

· ASU 2016-08, Principal vs Agent Considerations (Reporting Revenue Gross versus Net) (Topic 606) – FASB issued this amendment to the principal versus agent guidance in the new revenue standard to clarify that the analysis must focus on whether the entity has control of the goods or services before they are transferred to the customer.  We do not anticipate that the adoption of ASU 2016-08 will have a material impact on our consolidated financial statements and related disclosures.

2. ASU 2016-02, Leases (Topic 842)– This new guidance, which becomes effective for us by January 1, 2019, establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months.  Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement.  A modified retrospective transition approach is required for lessees with capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available.  While we are still evaluating the impact of our pending adoption of this new standard on our consolidated financial statements, we expect that upon adoption we will recognize ROU assets and lease liabilities and that the amounts could be material since a majority of our operating cinemas are on a leased-facility model.  We have developed an implementation plan.Significant implementation matters that we are addressing include(i) assessment of lease population, (ii) determination of appropriate discount rate to use and (ii) assessment of renewal options to include in the initial lease term.

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Description Of Business And Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2017

Description Of Business And Segment Reporting [Abstract]

Summary Of Results Of Operations For Principal Business Segments

	Quarter Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Revenue:
Cinema exhibition	$	62,059	$	67,825	$	196,062	$	192,579
Real estate		6,036		5,390		17,467		15,961
Inter-segment elimination		(2,008)		(1,900)		(5,575)		(5,518)
	$	66,087	$	71,315	$	207,954	$	203,022
Segment operating income:
Cinema exhibition	$	6,703	$	9,726	$	25,581	$	26,536
Real estate		1,549		1,755		5,600		5,844
	$	8,252	$	11,481	$	31,181	$	32,380

Reconciliation To Net Income Attributable To Common Shareholders

	Quarter Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Segment operating income	$	8,252	$	11,481	$	31,181	$	32,380
Unallocated corporate expense
Depreciation and amortization expense		(108)		(102)		(321)		(295)
General and administrative expense		(4,506)		(4,769)		(13,931)		(14,693)
Interest expense, net		(1,663)		(1,553)		(5,310)		(5,190)
Equity earnings of unconsolidated joint ventures		136		200		654		808
Gain on sale of assets		--		--		9,417		393
Gain on insurance recoveries		--		--		9,217		--
Other income (expense)		89		(12)		937		(115)
Income before income tax expense	$	2,200	$	5,245	$	31,844	$	13,288

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Operations In Foreign Currency (Tables)

9 Months Ended

Sep. 30, 2017

Operations In Foreign Currency [Abstract]

Summary Of Currency Exchange Rates

	Foreign Currency / USD
	September 30, 2017		December 31, 2016	September 30, 2016
	As of and for the quarter ended	As of and for the nine months ended	As of and for the twelve months ended	As of and for the quarter ended	As of and for the nine months ended
Spot Rate
Australian Dollar	0.7840		0.7230	0.7667
New Zealand Dollar	0.7225		0.6958	0.7290
Average Rate
Australian Dollar	0.7899	0.7664	0.7440	0.7583	0.7420
New Zealand Dollar	0.7307	0.7159	0.6973	0.7226	0.6926

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Computation Of Basic And Diluted Earnings Per Share

	Quarter Ended				Nine Months Ended
(Dollars in thousands, except share data)	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Numerator:
Net income attributable to RDI common stockholders	$	1,556	$	3,855	$	23,619	$	9,054
Denominator:
Weighted average number of common stock – basic	22,968,017		23,334,892		23,101,619		23,334,892
Weighted average dilutive impact of awards	244,615		197,904		244,615		197,904
Weighted average number of common stock – diluted	23,212,632		23,532,796		23,346,234		23,532,796
Basic EPS attributable to RDI common stockholders	$	0.07	$	0.17	$	1.02	$	0.39
Diluted EPS attributable to RDI common stockholders	$	0.07	$	0.16	$	1.01	$	0.38
Awards excluded from diluted EPS	149,841		108,000			149,841		108,000

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Property And Equipment (Tables)

9 Months Ended

Sep. 30, 2017

Property And Equipment [Abstract]

Schedule Of Property And Equipment

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Land	$	76,736	$	73,803
Building and improvements		130,923		122,863
Leasehold improvements		48,605		46,902
Fixtures and equipment		130,086		118,180
Construction-in-progress		19,922		11,517
Total cost		406,272		373,265
Less: accumulated depreciation		(180,641)		(161,379)
Operating property, net	$	225,631	$	211,886

Summary Of Investment And Development Property

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Land	$	25,285	$	24,616
Building		1,900		1,900
Construction-in-progress (including capitalized interest)		46,566		17,171
Investment and development property	$	73,751	$	43,687

Construction-In-Progress Balance

(Dollars in thousands)		Balance, December 31, 2016		Additions during the period(1)		Completed during the period		Foreign currency movements		Balance, September 30, 2017
Union Square development	$	11,412	$	13,413	$	--	$	--	$	24,825
Newmarket Property development		2,106		14,492		--		438		17,036
Courtenay Central development		3,510		883		--		149		4,542
Cinema developments and improvements		7,796		8,810		(1,845)		64		14,825
Other real estate projects		3,864		5,141		(3,942)		197		5,260
Total	$	28,688	$	42,739	$	(5,787)	$	848	$	66,488

(1)Includes capitalized interest of $369,000 and $790,000 for the quarter and nine months ended September 30, 2017.

Schedule Of The Sale Of The Land And The Total Transaction Gain

(Dollars in thousands)	In AU$
Selling price	$	65,000
Less: Property book value		(52,108)
Total transaction gain, gross		12,892
Less: Direct costs incurred(1)		(439)
Total transaction gain, net	$	12,453

(1)Represents commissions and legal expenses incurred in connection with this transaction. 

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Investments In Unconsolidated Joint Ventures (Tables)

9 Months Ended

Sep. 30, 2017

Investments In Unconsolidated Joint Ventures [Abstract]

Summary Of The Investments In Unconsolidated Joint Ventures And Entities

		September 30,		December 31,
(Dollars in thousands)	Interest	2017		2016
Rialto Cinemas	50.0%	$	1,211	$	1,197
Mt. Gravatt	33.3%		4,128		3,874
Total investments		$	5,339	$	5,071

Summary Of Equity Earnings (Loss) From Investments In Unconsolidated Joint Ventures And Entities

	Quarter Ended				Nine Months Ended
		September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)		2017		2016		2017		2016
Rialto Cinemas	$	32	$	47		93		208
Mt. Gravatt		104		153		561		600
Total equity earnings	$	136	$	200	$	654	$	808

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Goodwill And Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2017

Goodwill And Intangible Assets [Abstract]

Summary Of Goodwill

(Dollars in thousands)	Cinema		Real Estate		Total
Balance at December 31, 2016	$	14,604	$	5,224	$	19,828
Foreign currency translation adjustment		610		--		610
Balance at September 30, 2017	$	15,214	$	5,224	$	20,438

Summary Of Intangible Assets Other Than Goodwill

	As of September 30, 2017
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,879	$	7,254	$	1,087	$	37,220
Less: Accumulated amortization		(22,971)		(4,860)		(480)		(28,311)
Net intangible assets other than goodwill	$	5,908	$	2,394	$	607	$	8,909

	As of December 31, 2016
(Dollars in thousands)	Beneficial Leases		Trade Name		Other Intangible Assets		Total
Gross carrying amount	$	28,671	$	7,254	$	1,084	$	37,009
Less: Accumulated amortization		(21,870)		(4,634)		(468)		(26,972)
Net intangible assets other than goodwill	$	6,801	$	2,620	$	616	$	10,037

Summary Of Amortization Expense

	Quarter Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)	2017		2016		2017		2016
Beneficial lease amortization	$	278	$	578	$	935	$	968
Other amortization		104		296		311		845
Total intangible assets amortization	$	382	$	874	$	1,246	$	1,813

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Prepaid And Other Assets (Tables)

9 Months Ended

Sep. 30, 2017

Prepaid And Other Assets [Abstract]

Summary Of Prepaid And Other Assets

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Prepaid and other current assets
Prepaid expenses	$	2,080	$	981
Prepaid rent		1,029		1,237
Prepaid taxes		863		3,098
Deposits		295		404
Investment in marketable securities		45		50
Restricted cash		17		17
Total prepaid and other current assets	$	4,329	$	5,787
Other non-current assets
Straight-line rent		2,509		2,457
Other non-cinema and non-rental real estate assets		1,134		1,134
Investment in Reading International Trust I		838		838
Interest rate cap at fair value		15		1
Long-term deposits		5		39
Insurance receivable(1)	$	--	$	9,480
Total other non-current assets	$	4,501	$	13,949

(1)This was subsequently received in May 2017 as a result of the final settlement from our Insurer.  Refer to Note 18 – Insurance Recoveries for further discussion on this item.

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Debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt [Abstract]

Summary Of Notes Payable

		As of September 30, 2017
(Dollars in thousands)		Maturity Date	Contractual Facility		Balance, Gross		Balance, Net(3)		Stated Interest Rate	Effective Interest Rate (1)
Denominated in USD
	Trust Preferred Securities (USA)	April 30, 2027	$	27,913	$	27,913	$	27,501	5.31%	5.20%
	Bank of America Credit Facility (USA)	November 28, 2019		55,000		40,500		40,481	3.74%	3.65%
	Bank of America Line of Credit (USA)	October 31, 2019		5,000		--		--	4.24%	4.24%
	Cinema 1, 2, 3 Term Loan (USA)(4)	September 1, 2019		19,601		19,601		19,168	3.25%	3.25%
	Minetta & Orpheum Theatres Loan (USA)(4)	June 1, 2018		7,500		7,500		7,452	4.00%	4.00%
	U.S. Corporate Office Term Loan (USA)(4)	January 1, 2027		9,774		9,774		9,651	4.64%	4.64%
	Union Square Construction Financing (USA)(4)	December 29, 2019		57,500		8,000		5,351	5.49%	5.49%
Denominated in foreign currency ("FC") (2)
	NAB Corporate Term Loan (AU)	June 28, 2019		52,136		38,024		37,920	3.55%	3.55%
	Westpac Corporate Credit Facility (NZ)	December 31, 2018		38,293		--		--	3.70%	3.70%
			$	272,717		151,312		147,524

(1)Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of September 30, 2017.

(2)The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of September 30, 2017.

(3)Net of deferred financing costs amounting to $3.8 million.

(4)The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.  In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. 

		As of December 31, 2016
(Dollars in thousands)		Maturity Date	Contractual Facility		Balance, Gross		Balance, Net(3)		Stated Interest Rate	Effective Interest Rate (1)
Denominated in USD
	Trust Preferred Securities (USA)	April 30, 2027	$	27,913	$	27,913	$	27,340	4.89%	5.20%
	Bank of America Credit Facility (USA)	November 28, 2019		55,000		39,950		39,759	3.27%	3.90%
	Bank of America Line of Credit (USA)	October 31, 2019		5,000		--		--	3.77%	3.77%
	Cinema 1, 2, 3 Term Loan (USA)(4)	September 1, 2019		19,901		19,901		19,356	3.25%	3.25%
	Minetta & Orpheum Theatres Loan (USA)(4)	June 1, 2018		7,500		7,500		7,398	3.38%	3.38%
	U.S. Corporate Office Term Loan (USA)(4)	January 1, 2027		8,363		8,363		8,239	4.64%	4.64%
	Union Square Construction Financing (USA)(4)	December 29, 2019		57,500		8,000		4,751	4.52%	4.52%
Denominated in FC (2)
	NAB Corporate Term Loan (AU)	June 30, 2019		48,080		28,558		28,421	2.64%	2.64%
	Westpac Corporate Credit Facility (NZ)	March 31, 2018		36,877		8,350		8,350	3.80%	3.80%
			$	266,134	$	148,535	$	143,614

(1)Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of December 31, 2016.

(2)The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of December 31, 2016.

(3)Net of deferred financing costs amounting to $4.9 million.

(4) The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. 

Schedule Of Long-term Debt Instruments, Net Of The Deferred Financing Costs

	Dollars in thousands
Balance Sheet Caption	September 30, 2017		December 31, 2016
Debt - current portion	$	8,084	$	567
Debt - long-term portion		111,939		115,707
Subordinated debt		27,501		27,340
Total borrowings	$	147,524	$	143,614

Schedule Of Construction Financing

(Dollars in thousands)		Facility Limits and Advances
Financing Component	Lender	Facility Limit		Advanced-to- Date		Remaining Facility		Interest Rate(1)	Maturity Date(2)
Mezzanine loan	Tammany Mezz Investor LLC	$	7,500	$	--	$	7,500	Greater of (i) 10.50% and (ii) Adjusted LIBOR + 10%	December 29, 2019
Senior loan, including building and project loan	Bank of the Ozarks		50,000		8,000		42,000	Greater of (i) 4.75% and (ii) Adjusted LIBOR + 4.25%	December 29, 2019
Total Union Square Financing		$	57,500	$	8,000	$	49,500

(1)Not to exceed the New York State maximum lawful borrowing rate, which typically is 16%.

(2)Allowable for up to two (2) extension request options, one (1) year for each extension request.

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Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Other Liabilities [Abstract]

Summary Of Other Liabilities Including Pension

(Dollars in thousands)	September 30, 2017		December 31, 2016
Current liabilities
Lease liability	$	5,900	$	5,900
Liability for demolition costs		2,934		5,914
Accrued pension		2,736		2,223
Security deposit payable		90		77
Other		--		17
Other current liabilities	$	11,660	$	14,131
Other liabilities
Straight-line rent liability	$	12,759	$	12,413
Lease make-good provision		5,596		5,146
Accrued pension		5,354		5,732
Environmental reserve		1,656		1,656
Deferred revenue - real estate		3		4,398
Acquired leases		209		267
Interest rate swap		--		58
Other		479		495
Other liabilities	$	26,056	$	30,165

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Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2017

Accumulated Other Comprehensive Income [Abstract]

Summary Of Accumulated Other Comprehensive Income

(Dollars in thousands)	Foreign Currency Items		Unrealized Gain (Losses) on Available-for-Sale Investments		Accrued Pension Service Costs		Total
Balance at January 1, 2017	$	14,784	$	10	$	(2,719)	$	12,075
Net current-period other comprehensive income		10,173		(4)		155		10,324
Balance at September 30, 2017	$	24,957	$	6	$	(2,564)	$	22,399

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Non-controlling Interests (Tables)

9 Months Ended

Sep. 30, 2017

Non-controlling Interests [Abstract]

Components Of Non-controlling Interests

	September 30,		December 31,
(Dollars in thousands)	2017		2016
Australian Country Cinemas, Pty Ltd	$	228	$	264
Shadow View Land and Farming, LLC		1,885		1,980
Sutton Hill Properties, LLC		2,082		2,174
Noncontrolling interests in consolidated subsidiaries	$	4,195	$	4,418

Components Of Income/(Loss) Attributable To Non-controlling Interest

	Quarter Ended				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
(Dollars in thousands)	2017		2016		2017		2016
Australian Country Cinemas, Pty Ltd	$	72	$	79	$	184	$	137
Shadow View Land and Farming, LLC		(132)		(12)		(158)		(29)
Sutton Hill Properties, LLC		(38)		(5)		(92)		(96)
Net income (loss) attributable to noncontrolling interests	$	(98)	$	62	$	(66)	$	12

Summary Of Changes In Controlling And Non-controlling Stockholders’ Equity

(Dollars in thousands)		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at January 1, 2017	$	142,197	$	4,418	$	146,615
Net income		23,619		(66)		23,553
Increase in additional paid in capital		936		--		936
Treasury stock purchased		(6,475)		--		(6,475)
Contributions from noncontrolling stockholders - SHP		--		63		63
Distributions to noncontrolling stockholders		--		(240)		(240)
Accumulated other comprehensive income		10,323		20		10,343
Equity at September 30, 2017	$	170,600	$	4,195	$	174,795
(Dollars in thousands)		Controlling Stockholders’ Equity		Noncontrolling Stockholders’ Equity		Total Stockholders’ Equity
Equity at January 1, 2016	$	132,865	$	4,331	$	137,196
Net income (loss)		9,054		12		9,066
Increase in additional paid in capital		447		--		447
Contributions from noncontrolling stockholders - SHP		--		268		268
Distributions to noncontrolling stockholders		--		(194)		(194)
Accumulated other comprehensive loss		9,414		14		9,428
Equity at September 30, 2016	$	151,780	$	4,431	$	156,211

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Stock-Based Compensation and Stock Repurchases (Tables)

9 Months Ended

Sep. 30, 2017

Stock-Based Compensation and Stock Repurchases [Abstract]

Schedule Of Fair Value Of Options, Weighted Average Assumptions

	Nine Months Ended September 30
	2017			2016
Stock option exercise price	$	15.94	11.87
Risk-free interest rate		1.66%	1.20%
Expected dividend yield		--	--
Expected option life in years		3.75	3.75
Expected volatility		24.95%	25.01%
Weighted average fair value	$	3.45	2.49

Schedule Of Stock Options Outstanding And Exercisable

	Outstanding Stock Options - Class A Shares
	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Years of Contractual Life	Aggregate Intrinsic Value
Balance - December 31, 2015	486,565	$	8.68	2.89	$	2,188,011
Granted	169,327		11.87
Exercised	(46,815)		9.50		$	220,002
Forfeited	(74,000)		7.02
Balance - December 31, 2016	535,077	$	9.84	2.61	$	3,615,191
Granted	169,762		15.94
Exercised	(107,750)		8.94		$	595,873
Forfeited	(2,500)		6.23
Balance - September 30, 2017	594,589	$	11.76	3.02	$	3,007,071

Summary Of Restricted Stock Units Granted

	Outstanding Restricted Stock Units
	RSU Grants (in units)		Total	Vested,	Unvested,
Grant Date	Directors	Management	Grants	September 30, 2017	September 30, 2017
March 10, 2016	35,147	27,381	62,528	41,992	20,536
April 11, 2016	--	5,625	5,625	1,406	4,219
March 23, 2017	30,681	32,463	63,144	--	63,144
August 29, 2017	--	7,394	7,394	--	7,394
Total	65,828	72,863	138,691	43,398	95,293

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Measurements [Abstract]

Schedule Of Fair Value Carried At Cost And Measured On A Nonrecurring Basis

			Fair Value Measurement at September 30, 2017
(Dollars in thousands)	Carrying Value(1)		Level 1		Level 2		Level 3		Total
Notes payable	$	123,399	$	--	$	--	$	122,563	$	122,563
Subordinated debt		27,913		--		--		15,854		15,854
	$	151,312	$	--	$	--	$	138,417	$	138,417

			Fair Value Measurement at December 31, 2016
(Dollars in thousands)	Carrying Value(1)		Level 1		Level 2		Level 3		Total
Notes payable	$	120,622	$	--	$	--	$	121,204	$	121,204
Subordinated debt		27,913		--		--		15,247		15,247
	$	148,535	$	--	$	--	$	136,451	$	136,451

(1)These balances are presented before any deduction for deferred financing costs.

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Insurance Recoveries (Tables)

9 Months Ended

Sep. 30, 2017

Insurance Recoveries [Abstract]

Allocation Of The Total Insurance Proceeds To The Various Risks and Bases

Covered Risks	Basis for Allocation (Dollars in thousands)		Commentary	% Allocation	Allocation of Insurance Proceeds (Dollars in thousands)
Property damage	NZ$	44,808	Estimated replacement cost for Courtenay Central parking building, as determined by an independent construction cost consultant.	81%	NZ$	29,093
Demolition costs		7,276	Actual costs incurred and best estimates of remaining costs to complete the demolition activities of Courtenay Central parking building	13%		4,724
Business interruption		3,415	Estimated lost profits during the closure period relating to our various revenue-generating components within Courtenay Central ETC (including our cinema and property operations)	6%		2,217
Total	NZ$	55,499		100%	NZ$	36,034

Schedule Of Net Impact In Current Earnings

	Recoverable Components
	Non-Operating Income						Operating Income
(Dollars in thousands)	Property Damage(1)		Demolition Costs(1)		Total		Business Interruption(2)		Grand Total
Insurance Proceed Allocation	NZ$	29,093	NZ$	4,724	NZ$	33,817	NZ$	2,217	NZ$	36,034
Less: Recorded values of Recoverable Components, June 30, 2017
Recorded as of December 31, 2016		13,451		7,276		20,727		--		20,727
Changes in estimates and others		347		--		347		111		458
		13,798		7,276		21,074		111		21,185
Net Impact in Current Earnings (in NZ$)	NZ$	15,295	NZ$	(2,552)	NZ$	12,743	NZ$	2,106	NZ$	14,849
Net Impact in Current Earnings (in US$)	$	11,063	$	(1,846)	$	9,217	$	1,523	$	10,740

(1)The net impact to current earnings of $9.2 million (NZ$12.7 million) is recorded as “Gain on Insurance Recoveries” in our Consolidated Statement of Income.

(2)The impact to current earnings of $1.5 million (NZ$2.1 million) is recorded as part of the applicable segment revenues in our Consolidated Statement of Income.

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Description Of Business And Segment Reporting (Summary Of Results Of Operations For Principal Business Segments) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016		Sep. 30, 2017	Sep. 30, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	$ 66,087	$ 71,315	[1]	$ 207,954	$ 203,022	[1]
Segment operating income	3,638	6,610	[1]	16,929	17,392	[1]
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating income	8,252	11,481		31,181	32,380
Inter-segment Elimination [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	(2,008)	(1,900)		(5,575)	(5,518)
Cinema Exhibition [Member] | Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	62,059	67,825		196,062	192,579
Segment operating income	6,703	9,726		25,581	26,536
Real Estate [Member] | Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue	6,036	5,390		17,467	15,961
Segment operating income	$ 1,549	$ 1,755		$ 5,600	$ 5,844

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Description Of Business And Segment Reporting (Reconciliation To Net Income Attributable To Common Shareholders) (Details) $ in Thousands, NZD in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)		Sep. 30, 2017 NZD	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Segment Reporting Information [Line Items]
Operating income	$ 3,638	$ 6,610	[1]		$ 16,929	$ 17,392	[1]
Depreciation and amortization expense	(4,137)	(4,131)	[1]		(12,124)	(11,766)	[1]
General and administrative expense	(5,840)	(6,175)	[1]		(18,131)	(18,372)	[1]
Income tax benefit (expense)	(742)	(1,328)	[1]		(8,291)	(4,222)	[1]
Equity earnings of unconsolidated joint ventures	136	200	[1]		654	808	[1]
Gain on sale of assets					9,417	393	[1]
Gain on insurance recoveries				NZD 12.7	9,217
Other income (expense)	89	(12)	[1]		937	(115)	[1]
Income before income taxes	2,200	5,245	[1]		31,844	13,288	[1]
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	8,252	11,481			31,181	32,380
Corporate, Non-segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	(108)	(102)			(321)	(295)
General and administrative expense	(4,506)	(4,769)			(13,931)	(14,693)
Interest expense, net	(1,663)	(1,553)			(5,310)	(5,190)
Equity earnings of unconsolidated joint ventures	136	200			654	808
Gain on sale of assets					9,417	393
Gain on insurance recoveries					9,217
Other income (expense)	$ 89	$ (12)			$ 937	$ (115)

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Operations in Foreign Currency (Narrative) (Details) $ in Thousands, AUD in Millions	9 Months Ended
	Sep. 30, 2017 USD ($)	Sep. 01, 2017 AUD
Operations In Foreign Currency [Abstract]
Short-term intercompany loan | AUD		AUD 21.1
Gain recognized on foreign currency transactions | $	$ 910

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Operations in Foreign Currency (Summary Of Currency Exchange Rates) (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Australian Dollar [Member] | Spot Rate [Member]
Currency Exchange Rates [Line Items]
Foreign currency exchange rate	0.7840	0.7667	0.7840	0.7667	0.7230
Australian Dollar [Member] | Average Rate [Member]
Currency Exchange Rates [Line Items]
Foreign currency exchange rate	0.7899	0.7583	0.7664	0.7420	0.7440
New Zealand Dollar [Member] | Spot Rate [Member]
Currency Exchange Rates [Line Items]
Foreign currency exchange rate	0.7225	0.7290	0.7225	0.7290	0.6958
New Zealand Dollar [Member] | Average Rate [Member]
Currency Exchange Rates [Line Items]
Foreign currency exchange rate	0.7307	0.7226	0.7159	0.6926	0.6973

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Earnings Per Share (Narrative) (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of common stocks - repurchased	192,207	403,156

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Earnings Per Share (Computation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016		Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Net income attributable to RDI common stockholders	$ 1,556	$ 3,855	[1]	$ 23,619	$ 9,054	[1]
Weighted average number of common stock – basic	22,968,017	23,334,892	[1]	23,101,619	23,334,892	[1]
Weighted average dilutive impact of awards	244,615	197,904		244,615	197,904
Weighted average number of common stock – diluted	23,212,632	23,532,796	[1]	23,346,234	23,532,796	[1]
Basic EPS attributable for RDI common stockholders	$ 0.07	$ 0.17	[1]	$ 1.02	$ 0.39	[1]
Diluted EPS attributable to RDI common stockholders	$ 0.07	$ 0.16	[1]	$ 1.01	$ 0.38	[1]
Awards excluded from diluted EPS	149,841	108,000		149,841	108,000

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Property And Equipment (Narrative) (Details) AUD in Thousands						3 Months Ended		9 Months Ended
	Jun. 19, 2017 AUD property	Jun. 19, 2017 USD ($) property	Apr. 01, 2015 NZD property	May 23, 2014 AUD	May 23, 2014 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 AUD	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 AUD	Jun. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)	[1]	Apr. 30, 2015 NZD	Apr. 30, 2015 USD ($)	Apr. 01, 2015 USD ($)	May 12, 2014 AUD a	May 12, 2014 USD ($) a
Property, Plant and Equipment [Line Items]
Depreciation expense for property and equipment | $						$ 4,000,000	$ 4,000,000		$ 11,800,000	$ 11,200,000
Sale price | AUD								AUD 65,000				AUD 65,000
Less: Property book value | $											$ 225,631,000			$ 211,886,000
Total transaction gain, net												AUD 12,453	$ 9,400,000
Burwood [Member]
Property, Plant and Equipment [Line Items]
Number of land parcels sold | property	1	1
Sale price																			AUD 65,000	$ 50,800,000
Area of property | a																			50.6	50.6
Proceeds from the sale property	AUD 21,800	$ 16,500,000		AUD 6,500	$ 5,900,000
Sale agreements, prepayment as a percentage of net sale price								90.00%			90.00%
Percentage of acquisition completed	90.00%	90.00%
Expected final settlement								AUD 36,700	$ 28,800,000
Lake Taupo [Member]
Property, Plant and Equipment [Line Items]
Number of land parcels sold | property			2
Sale price			NZD 3,400,000															$ 2,400,000
Lake Taupo Parcel One [Member]
Property, Plant and Equipment [Line Items]
Sale price																NZD 2,200,000	$ 1,600,000
Less: Property book value																1,800,000	1,300,000
Lake Taupo Parcel Two [Member]
Property, Plant and Equipment [Line Items]
Sale price																1,200,000	831,000
Less: Property book value																NZD 615,000	$ 426,000

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Property And Equipment (Schedule Of Property And Equipment) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property And Equipment [Abstract]
Land	$ 76,736	$ 73,803
Building and improvements	130,923	122,863
Leasehold improvements	48,605	46,902
Fixtures and equipment	130,086	118,180
Construction-in-progress	19,922	11,517
Total cost	406,272	373,265
Less: accumulated depreciation	(180,641)	(161,379)
Operating property, net	$ 225,631	$ 211,886	[1]

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Property And Equipment (Summary Of Investment And Development Property) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Investment and development property, net	$ 73,751	$ 43,687	[1]
Land [Member]
Property, Plant and Equipment [Line Items]
Investment and development property, net	25,285	24,616
Building [Member]
Property, Plant and Equipment [Line Items]
Investment and development property, net	1,900	1,900
Construction-In-Progress (including capitalized interest) [Member]
Property, Plant and Equipment [Line Items]
Investment and development property, net	$ 46,566	$ 17,171

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Property And Equipment (Construction-In-Progress Balance) (Details) - USD ($)		3 Months Ended	9 Months Ended
		Sep. 30, 2017	Sep. 30, 2017
Property, Plant and Equipment [Line Items]
Balance			$ 11,517,000
Balance		$ 19,922,000	19,922,000
Capitalized interest charges		369,000	790,000
Operating And Investing Properties [Member]
Property, Plant and Equipment [Line Items]
Balance			28,688,000
Additions during the period	[1]		42,739,000
Completed during the period			(5,787,000)
Foreign currency movements			848,000
Balance		66,488,000	66,488,000
Operating And Investing Properties [Member] | Union Square Development [Member]
Property, Plant and Equipment [Line Items]
Balance			11,412,000
Additions during the period	[1]		13,413,000
Completed during the period
Foreign currency movements
Balance		24,825,000	24,825,000
Operating And Investing Properties [Member] | Newmarket Property Development [Member]
Property, Plant and Equipment [Line Items]
Balance			2,106,000
Additions during the period	[1]		14,492,000
Completed during the period
Foreign currency movements			438,000
Balance		17,036,000	17,036,000
Operating And Investing Properties [Member] | Courtenay Central Development [Member]
Property, Plant and Equipment [Line Items]
Balance			3,510,000
Additions during the period	[1]		883,000
Completed during the period
Foreign currency movements			149,000
Balance		4,542,000	4,542,000
Operating And Investing Properties [Member] | Cinema Developments And Improvements [Member]
Property, Plant and Equipment [Line Items]
Balance			7,796,000
Additions during the period	[1]		8,810,000
Completed during the period			(1,845,000)
Foreign currency movements			64,000
Balance		14,825,000	14,825,000
Operating And Investing Properties [Member] | Other Real Estate Projects [Member]
Property, Plant and Equipment [Line Items]
Balance			3,864,000
Additions during the period	[1]		5,141,000
Completed during the period			(3,942,000)
Foreign currency movements			197,000
Balance		$ 5,260,000	$ 5,260,000

[1] Includes capitalized interest of $369,000 and $790,000 for the quarter and nine months ended September 30, 2017.

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Property And Equipment (Schedule Of The Sale Of The Land And The Total Transaction Gain) (Details) AUD in Thousands, $ in Millions		Sep. 30, 2017 AUD	Jun. 30, 2017 AUD	Jun. 30, 2017 USD ($)	May 12, 2014 AUD	May 12, 2014 USD ($)
Property, Plant and Equipment [Line Items]
Selling price		AUD 65,000	AUD 65,000
Less: Property book value			(52,108)
Total transaction gain, gross			12,892
Less: Direct costs incurred	[1]		(439)
Total transaction gain, net			AUD 12,453	$ 9.4
Burwood [Member]
Property, Plant and Equipment [Line Items]
Selling price					AUD 65,000	$ 50.8

[1] Represents commissions and legal expenses incurred in connection with this transaction.

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Investments In Unconsolidated Joint Ventures (Narrative) (Details) - 3 months ended Jun. 30, 2017	NZD	USD ($)
Rialto Distribution [Member]
Schedule of Equity Method Investments [Line Items]
Gain on sale of investment	NZD 21,000	$ 15,000

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Investments In Unconsolidated Joint Ventures (Summary Of The Investments In Unconsolidated Joint Ventures And Entities) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Total investments	$ 5,339	$ 5,071	[1]
Rialto Cinemas [Member]
Schedule of Equity Method Investments [Line Items]
Interest	50.00%
Total investments	$ 1,211	1,197
Mt. Gravatt [Member]
Schedule of Equity Method Investments [Line Items]
Interest	33.30%
Total investments	$ 4,128	$ 3,874

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Investments In Unconsolidated Joint Ventures (Summary Of Equity Earnings (Loss) From Investments In Unconsolidated Joint Ventures And Entities) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016		Sep. 30, 2017	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
Total equity earnings	$ 136	$ 200	[1]	$ 654	$ 808	[1]
Rialto Cinemas [Member]
Schedule of Equity Method Investments [Line Items]
Total equity earnings	32	47		93	208
Mt. Gravatt [Member]
Schedule of Equity Method Investments [Line Items]
Total equity earnings	$ 104	$ 153		$ 561	$ 600

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Goodwill And Intangible Assets (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017
Beneficial Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful life	30 years
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful life	45 years
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets estimated useful life	30 years

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Goodwill And Intangible Assets (Summary Of Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($)
Goodwill [Line Items]
Beginning balance	$ 19,828	[1]
Foreign currency translation adjustment	610
Ending balance	20,438
Cinema [Member]
Goodwill [Line Items]
Beginning balance	14,604
Foreign currency translation adjustment	610
Ending balance	15,214
Real Estate [Member]
Goodwill [Line Items]
Beginning balance	5,224
Foreign currency translation adjustment
Ending balance	$ 5,224

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Goodwill And Intangible Assets (Summary Of Intangible Assets Other Than Goodwill) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 37,220	$ 37,009
Less: Accumulated amortization	(28,311)	(26,972)
Net intangible assets other than goodwill	8,909	10,037	[1]
Beneficial Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	28,879	28,671
Less: Accumulated amortization	(22,971)	(21,870)
Net intangible assets other than goodwill	5,908	6,801
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	7,254	7,254
Less: Accumulated amortization	(4,860)	(4,634)
Net intangible assets other than goodwill	2,394	2,620
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,087	1,084
Less: Accumulated amortization	(480)	(468)
Net intangible assets other than goodwill	$ 607	$ 616

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Goodwill And Intangible Assets (Summary Of Amortization Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization	$ 382	$ 874	$ 1,246	$ 1,813
Beneficial Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization	278	578	935	968
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization	$ 104	$ 296	$ 311	$ 845

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Prepaid And Other Assets (Summary Of Prepaid And Other Assets) (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Prepaid And Other Assets [Abstract]
Prepaid expenses		$ 2,080	$ 981
Prepaid rent		1,029	1,237
Prepaid taxes		863	3,098
Deposits		295	404
Investment in marketable securities		45	50
Restricted cash		17	17
Total prepaid and other current assets		4,329	5,787	[1]
Straight-line rent		2,509	2,457
Other non-cinema and non-rental real estate assets		1,134	1,134
Investment in Reading International Trust I		838	838
Interest rate cap at fair value		15	1
Long-term deposits		5	39
Insurance receivable	[2]		9,480
Total other non-current assets		$ 4,501	$ 13,949	[1]

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

[2] This was subsequently received in May 2017 as a result of the final settlement from our Insurer. Refer to Note 18 - Insurance Recoveries for further discussion on this item.

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Income Taxes (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Taxes [Abstract]
Effective tax rate	26.00%	31.80%

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Debt (US Union Square Construction Financing) (Narrative) (Details) $ in Thousands		9 Months Ended		12 Months Ended
	Dec. 29, 2016 USD ($) loan	Sep. 30, 2017 USD ($)		Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Contractual facility		$ 272,717		$ 266,134
US Union Square Construction Financing [Member]
Debt Instrument [Line Items]
Contractual facility	$ 57,500	57,500	[1]	57,500	[2]
Advanced-to-Date		8,000
Facility Limit		57,500
US Union Square Construction Financing [Member] | Bank Of The Ozarks [Member]
Debt Instrument [Line Items]
Contractual facility	$ 50,000
Number of loan tranches | loan	3
Advanced-to-Date				8,000
Facility Limit				$ 8,000
US Union Square Construction Financing [Member] | Tammany Mezz Investor, LLC [Member] | Mezzanine Loan [Member]
Debt Instrument [Line Items]
Contractual facility	$ 7,500
Facility Limit		$ 7,500

[1] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million.

[2] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. The Minetta & Orpheum Theatres Loan will become due within one year. Currently, we are negotiating with our lender to renew this borrowing. Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:Dollars in thousandsBalance Sheet CaptionSeptember 30, 2017December 31, 2016Debt - current portion$ 8,084$ 567 Debt - long-term portion 111,939 115,707 Subordinated debt 27,501 27,340 Total borrowings $ 147,524$ 143,614

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Debt (Cinemas 1, 2, 3 Term Loan) (Narrative) (Details) - USD ($) $ in Thousands		9 Months Ended		12 Months Ended
	Aug. 31, 2016	Sep. 30, 2017		Dec. 31, 2016
Debt Instrument [Line Items]
Contractual facility		$ 272,717		$ 266,134
US Cinema 1, 2, 3 Term Loan [Member]
Debt Instrument [Line Items]
Contractual facility		$ 19,601	[1]	$ 19,901	[2]
Maturity date		Sep. 01, 2019	[1]	Sep. 01, 2019	[2]
US Cinema 1, 2, 3 Term Loan [Member] | Sutton Hill Properties, LLC [Member]
Debt Instrument [Line Items]
Ownership percentage by parent		75.00%
Contractual facility	$ 15,000
Maturity date		Sep. 01, 2019
Interest rate		3.25%
Line of credit facility, maximum borrowing capacity		$ 20,000

[1] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million.

[2] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. The Minetta & Orpheum Theatres Loan will become due within one year. Currently, we are negotiating with our lender to renew this borrowing. Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:Dollars in thousandsBalance Sheet CaptionSeptember 30, 2017December 31, 2016Debt - current portion$ 8,084$ 567 Debt - long-term portion 111,939 115,707 Subordinated debt 27,501 27,340 Total borrowings $ 147,524$ 143,614

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Debt (Bank Of America Credit Facility) (Narrative) (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Mar. 03, 2016	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Contractual facility		$ 272,717	$ 266,134
US Bank Of America Credit Facility [Member]
Debt Instrument [Line Items]
Contractual facility	$ 55,000	$ 55,000	$ 55,000
Reduced leverage ratio	0.25%

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Debt (Bank Of America Line Of Credit) (Narrative) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
US Bank Of America Line Of Credit [Member]
Debt Instrument [Line Items]
Maturity date	Oct. 31, 2019	Oct. 31, 2019

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Debt (Westpac Bank Corporate Credit Facility) (Narrative) (Details) $ in Thousands, NZD in Millions			9 Months Ended	12 Months Ended
	Apr. 26, 2017 NZD	Apr. 26, 2017 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Contractual facility			$ 272,717	$ 266,134
Westpac Bank Corporate Credit Facility, Tranch 1 [Member]
Debt Instrument [Line Items]
Contractual facility	NZD 35.0	$ 24,500
Maturity date	Mar. 31, 2018	Mar. 31, 2018	Dec. 31, 2018

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Debt (U.S. Corporate Office Term Loan) (Narrative) (Details) - USD ($) $ in Thousands			9 Months Ended		12 Months Ended
	Jun. 26, 2017	Dec. 13, 2016	Sep. 30, 2017		Dec. 31, 2016
Debt Instrument [Line Items]
Contractual facility			$ 272,717		$ 266,134
U.S. Corporate Office Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument term		10 years
Contractual facility		$ 8,400	$ 9,774	[1]	$ 8,363	[2]
Interest rate	4.44%	4.64%
Debt increase	$ 1,500

[1] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million.

[2] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. The Minetta & Orpheum Theatres Loan will become due within one year. Currently, we are negotiating with our lender to renew this borrowing. Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:Dollars in thousandsBalance Sheet CaptionSeptember 30, 2017December 31, 2016Debt - current portion$ 8,084$ 567 Debt - long-term portion 111,939 115,707 Subordinated debt 27,501 27,340 Total borrowings $ 147,524$ 143,614

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Debt (Summary Of Notes Payable) (Details) - USD ($) $ in Thousands					9 Months Ended		12 Months Ended
		Dec. 29, 2016	Dec. 13, 2016	Mar. 03, 2016	Sep. 30, 2017		Dec. 31, 2016
Debt Instrument [Line Items]
Contractual facility					$ 272,717		$ 266,134
Balance Gross					151,312		148,535
Balance Net					147,524	[1]	143,614	[2]
Deferred financing costs, net					$ 3,800		$ 4,900
Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Maturity date					Apr. 30, 2027		Apr. 30, 2027
Contractual facility					$ 27,913		$ 27,913
Balance Gross					27,913		27,913
Balance Net					$ 27,501	[1]	$ 27,340	[2]
Stated interest rate					5.31%		4.89%
Effective interest rate					5.20%	[3]	5.20%	[4]
US Bank Of America Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date					Nov. 28, 2019		Nov. 28, 2019
Contractual facility				$ 55,000	$ 55,000		$ 55,000
Balance Gross					40,500		39,950
Balance Net					$ 40,481	[1]	$ 39,759	[2]
Stated interest rate					3.74%		3.27%
Effective interest rate					3.65%	[3]	3.90%	[4]
US Bank Of America Line Of Credit [Member]
Debt Instrument [Line Items]
Maturity date					Oct. 31, 2019		Oct. 31, 2019
Contractual facility					$ 5,000		$ 5,000
Stated interest rate					4.24%		3.77%
Effective interest rate					4.24%	[3]	3.77%	[4]
US Cinema 1, 2, 3 Term Loan [Member]
Debt Instrument [Line Items]
Maturity date					Sep. 01, 2019	[5]	Sep. 01, 2019	[6]
Contractual facility					$ 19,601	[5]	$ 19,901	[6]
Balance Gross					19,601	[5]	19,901	[6]
Balance Net					$ 19,168	[1],[5]	$ 19,356	[2],[6]
Stated interest rate					3.25%	[5]	3.25%	[6]
Effective interest rate					3.25%	[3],[5]	3.25%	[4],[6]
Minetta and Orpheum Theatres Loan [Member]
Debt Instrument [Line Items]
Maturity date					Jun. 01, 2018	[5]	Jun. 01, 2018	[6]
Contractual facility					$ 7,500	[5]	$ 7,500	[6]
Balance Gross					7,500	[5]	7,500	[6]
Balance Net					$ 7,452	[1],[5]	$ 7,398	[2],[6]
Stated interest rate					4.00%	[5]	3.38%	[6]
Effective interest rate					4.00%	[3],[5]	3.38%	[4],[6]
U.S. Corporate Office Term Loan [Member]
Debt Instrument [Line Items]
Maturity date					Jan. 01, 2027	[5]	Jan. 01, 2027	[6]
Contractual facility			$ 8,400		$ 9,774	[5]	$ 8,363	[6]
Balance Gross					9,774	[5]	8,363	[6]
Balance Net					$ 9,651	[1],[5]	$ 8,239	[2],[6]
Stated interest rate					4.64%	[5]	4.64%	[6]
Effective interest rate					4.64%	[3],[5]	4.64%	[4],[6]
US Union Square Construction Financing [Member]
Debt Instrument [Line Items]
Maturity date					Dec. 29, 2019	[5]	Dec. 29, 2019	[6]
Contractual facility		$ 57,500			$ 57,500	[5]	$ 57,500	[6]
Balance Gross					8,000	[5]	8,000	[6]
Balance Net					$ 5,351	[1],[5]	$ 4,751	[2],[6]
Stated interest rate					5.49%	[5]	4.52%	[6]
Effective interest rate					5.49%	[3],[5]	4.52%	[4],[6]
NAB Corporate Term Loan [Member]
Debt Instrument [Line Items]
Maturity date					Jun. 28, 2019	[7]	Jun. 30, 2019	[8]
Contractual facility					$ 52,136	[7]	$ 48,080	[8]
Balance Gross					38,024	[7]	28,558	[8]
Balance Net					$ 37,920	[1],[7]	$ 28,421	[2],[8]
Stated interest rate					3.55%	[7]	2.64%	[8]
Effective interest rate					3.55%	[3],[7]	2.64%	[4],[8]
Westpac Bank Corporate Credit Facility [Member]
Debt Instrument [Line Items]
Maturity date					Dec. 31, 2018	[7]	Mar. 31, 2018	[8]
Contractual facility					$ 38,293	[7]	$ 36,877	[8]
Balance Gross	[8]						8,350
Balance Net	[2],[8]						$ 8,350
Stated interest rate					3.70%	[7]	3.80%	[8]
Effective interest rate					3.70%	[3],[7]	3.80%	[4],[8]

[1] Net of deferred financing costs amounting to $3.8 million.

[2] Net of deferred financing costs amounting to $4.9 million.

[3] Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of September 30, 2017.

[4] Effective interest rate includes the impact of interest rate derivatives hedging the interest rate risk associated with Trust Preferred Securities and Bank of America Credit Facility that were outstanding as of December 31, 2016.

[5] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million.

[6] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. The Minetta & Orpheum Theatres Loan will become due within one year. Currently, we are negotiating with our lender to renew this borrowing. Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:Dollars in thousandsBalance Sheet CaptionSeptember 30, 2017December 31, 2016Debt - current portion$ 8,084$ 567 Debt - long-term portion 111,939 115,707 Subordinated debt 27,501 27,340 Total borrowings $ 147,524$ 143,614

[7] The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of September 30, 2017.

[8] The contractual facilities and outstanding balances of the FC-denominated borrowings were translated into U.S. dollars based on the applicable exchange rates as of December 31, 2016.

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Debt (Schedule Of Long-term Debt Instruments, Net Of The Deferred Financing Costs) (Details) - USD ($) $ in Thousands	Sep. 30, 2017		Dec. 31, 2016
Debt [Abstract]
Debt – current portion	$ 8,084		$ 567	[1]
Debt – long-term portion	111,939		115,707	[1]
Subordinated debt	27,501		27,340	[1]
Total borrowings	$ 147,524	[2]	$ 143,614	[3]

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

[2] Net of deferred financing costs amounting to $3.8 million.

[3] Net of deferred financing costs amounting to $4.9 million.

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Debt (Schedule of Construction Financing) (Details) - US Union Square Construction Financing [Member] $ in Thousands		9 Months Ended		12 Months Ended
		Sep. 30, 2017 USD ($) item		Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Facility Limit		$ 57,500
Advanced-to-Date		8,000
Remaining Facility		$ 49,500
Maturity date		Dec. 29, 2019	[1]	Dec. 29, 2019	[2]
Number of extension options | item		2
Extension period		1 year
Tammany Mezz Investor, LLC [Member] | Mezzanine Loan [Member]
Debt Instrument [Line Items]
Facility Limit		$ 7,500
Remaining Facility		$ 7,500
Interest rate	[3]	10.50%
Spread over LIBOR	[3]	10.00%
Maturity date	[4]	Dec. 29, 2019
Bank Of The Ozarks [Member]
Debt Instrument [Line Items]
Facility Limit				$ 8,000
Advanced-to-Date				$ 8,000
Bank Of The Ozarks [Member] | Senior Loans, Including Building And Project Loan [Member]
Debt Instrument [Line Items]
Facility Limit		$ 50,000
Advanced-to-Date		8,000
Remaining Facility		$ 42,000
Interest rate	[3]	4.75%
Spread over LIBOR	[3]	4.25%
Maturity date	[4]	Dec. 29, 2019
Maximum [Member] | New York State [Member]
Debt Instrument [Line Items]
Interest rate		16.00%

[1] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million.

[2] The loan for our Minetta & Orpheum Theatres was obtained from Santander Bank. The term loan for our Cinema 1,2,3 Theatre was refinanced during the third quarter of 2016 with Valley National Bank. The term loan, which is collateralized by our new U.S Corporate Headquarters office building, was obtained with Citizens Asset Finance, Inc.. In December 2016, we completed the negotiation of the construction financing for our Union Square redevelopment project, $8.0 million of which was advanced from the total construction loan limit of $57.5 million. The Minetta & Orpheum Theatres Loan will become due within one year. Currently, we are negotiating with our lender to renew this borrowing. Our loan arrangements are presented, net of the deferred financing costs, on the face of our consolidated balance sheet as follows:Dollars in thousandsBalance Sheet CaptionSeptember 30, 2017December 31, 2016Debt - current portion$ 8,084$ 567 Debt - long-term portion 111,939 115,707 Subordinated debt 27,501 27,340 Total borrowings $ 147,524$ 143,614

[3] Not to exceed the New York State maximum lawful borrowing rate, which typically is 16%.

[4] Allowable for up to two (2) extension request options, one (1) year for each extension request.

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Other Liabilities (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Aug. 29, 2014
Other Liabilities [Line Items]
Accrued pension costs	$ 5,354,000		$ 5,354,000		$ 5,732,000	$ 7,500,000
Service cost	0	$ 0	0	$ 0
Interest cost	45,000	45,000	135,000	135,000
Actuarial loss (gain)	52,000	$ 52,000	155,000	$ 116,000
Benefit obligation	$ 10,200,000		$ 10,200,000
Discount rate	4.25%		4.25%
Discount term			15 years
Monthly estate payment amount	$ 57,000		$ 57,000
Discounted value	2,700,000		2,700,000
Accumulated prior service cost	3,100,000		$ 3,100,000
Accumulated prior service cost amortization period			15 years
Accrued pension costs included in other liabilities	$ 8,100,000		$ 8,100,000
Supplemental Executive Retirement Plans [Member]
Other Liabilities [Line Items]
Accrued pension costs						$ 7,600,000

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Other Liabilities (Summary Of Other Liabilities Including Pension) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016		Aug. 29, 2014
Other Liabilities [Abstract]
Lease liability	$ 5,900	$ 5,900
Liability for demolition costs	2,934	5,914
Accrued pension	2,736	2,223
Security deposit payable	90	77
Other		17
Other current liabilities	11,660	14,131	[1]
Straight-line rent liability	12,759	12,413
Lease make-good provision	5,596	5,146
Accrued pension	5,354	5,732		$ 7,500
Environmental reserve	1,656	1,656
Deferred revenue - real estate	3	4,398
Acquired leases	209	267
Interest rate swap		58
Other	479	495
Other liabilities	$ 26,056	$ 30,165	[1]

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Accumulated Other Comprehensive Income (Summary Of Accumulated Other Comprehensive Income) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 12,075	[1]
Net current-period other comprehensive income	10,324
Balance	22,399
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	14,784
Net current-period other comprehensive income	10,173
Balance	24,957
Unrealized Gain (Losses) On Available-For-Sale Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	10
Net current-period other comprehensive income	(4)
Balance	6
Accrued Pension Service Costs [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2,719)
Net current-period other comprehensive income	155
Balance	$ (2,564)

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended	13 Months Ended
	Apr. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Aug. 26, 2016	May 31, 2016
Derivative Litigation And James J. Cotter, Jr. Employment Arbitration [Member]
Commitments And Contingencies [Line Items]
Amount of damages claimed by plaintiff		$ 1.2	$ 1.2
Coverage limit		10.0
The STOMP Arbitration [Member]
Commitments And Contingencies [Line Items]
Settlement awarded	$ 2.3
Litigation interest percent	4.00%
Litigation payment received		$ 1.1	$ 1.6
Litigation final payment date		June 2019
Class B [Member] | Derivative Litigation And James J. Cotter, Jr. Employment Arbitration [Member]
Commitments And Contingencies [Line Items]
Shares held by estate				100,000
Class B [Member] | Cotter Estate [Member] | Derivative Litigation And James J. Cotter, Jr. Employment Arbitration [Member]
Commitments And Contingencies [Line Items]
Shares held by estate					327,808
Class B [Member] | Cotter Trust [Member] | Derivative Litigation And James J. Cotter, Jr. Employment Arbitration [Member]
Commitments And Contingencies [Line Items]
Shares held by estate					696,080

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Non-controlling Interests (Narrative) (Details)	Sep. 30, 2017
Australian Country Cinemas, Pty Ltd [Member]
Ownership percentage by noncontrolling interest	25.00%
Shadow View Land And Farming, LLC [Member]
Ownership percentage by noncontrolling interest	50.00%
Sutton Hill Properties, LLC [Member]
Ownership percentage by noncontrolling interest	25.00%
Sutton Hill Capital, LLC [Member]
Ownership percentage by noncontrolling interest	50.00%

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Non-controlling Interests (Components Of Non-controlling Interests) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	$ 4,195	$ 4,418
Australian Country Cinemas, Pty Ltd [Member]
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	228	264
Shadow View Land And Farming, LLC [Member]
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	1,885	1,980
Sutton Hill Properties, LLC [Member]
Noncontrolling Interest [Line Items]
Non-controlling interests in consolidated subsidiaries	$ 2,082	$ 2,174

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Non-controlling Interests (Components Of Income/(Loss) Attributable To Non-controlling Interest) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016		Sep. 30, 2017	Sep. 30, 2016
Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	$ (98)	$ 62	[1]	$ (66)	$ 12	[1]
Australian Country Cinemas, Pty Ltd [Member]
Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	72	79		184	137
Shadow View Land And Farming, LLC [Member]
Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	(132)	(12)		(158)	(29)
Sutton Hill Properties, LLC [Member]
Noncontrolling Interest [Line Items]
Net income (loss) attributable to non-controlling interests in consolidated subsidiaries	$ (38)	$ (5)		$ (92)	$ (96)

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Noncontrolling Interests (Summary Of Changes In Controlling And Non-controlling Stockholders’ Equity) (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016		Sep. 30, 2017	Sep. 30, 2016
Noncontrolling Interest [Line Items]
Balance	[1]				$ 146,615
Net income		$ 1,458	$ 3,917	[1]	23,553	$ 9,066	[1]
Distributions to noncontrolling stockholders					(240)	(194)	[1]
Accumulated other comprehensive income (loss)		(33)	(8)	[1]	(20)	(14)	[1]
Balance		174,795			174,795
Controlling Stockholders' Equity [Member]
Noncontrolling Interest [Line Items]
Balance					142,197	132,865
Net income					23,619	9,054
Increase in additional paid in capital					936	447
Treasury stock purchased					(6,475)
Contributions from noncontrolling stockholders - SHP
Distributions to noncontrolling stockholders
Accumulated other comprehensive income (loss)					10,323	9,414
Balance		170,600	151,780		170,600	151,780
Noncontrolling Stockholders' Equity [Member]
Noncontrolling Interest [Line Items]
Balance					4,418	4,331
Net income					(66)	12
Increase in additional paid in capital
Treasury stock purchased
Contributions from noncontrolling stockholders - SHP					63	268
Distributions to noncontrolling stockholders					(240)	(194)
Accumulated other comprehensive income (loss)					20	14
Balance		4,195	4,431		4,195	4,431
Total Stockholders' Equity [Member]
Noncontrolling Interest [Line Items]
Balance					146,615	137,196
Net income					23,553	9,066
Increase in additional paid in capital					936	447
Treasury stock purchased					(6,475)
Contributions from noncontrolling stockholders - SHP					63	268
Distributions to noncontrolling stockholders					(240)	(194)
Accumulated other comprehensive income (loss)					10,343	9,428
Balance		$ 174,795	$ 156,211		$ 174,795	$ 156,211

[1] Certain 2016 balances have been reclassified to conform to the 2017 presentation (see Note 2 - Summary of Significant Accounting Policies - Reclassifications).

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Stock-Based Compensation and Stock Repurchases (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 02, 2017	Dec. 31, 2016
Stock Option [Member]
Equity And Stock-Based Compensation [Line Items]
Grant date fair value of options vesting	$ 86,000	$ 74,000	$ 223,000	$ 264,000
Unrecognized estimated compensation cost related to non-vested stock options granted	915,000		$ 915,000
Recognition period of unrecognized compensation cost			1 year 11 months 5 days
Intrinsic unrealized value of all options outstanding, vested and expected to vest	3,000,000		$ 3,000,000
Percentage of option currently exercisable			79.50%
Restricted Stock Units (RSUs) [Member]
Equity And Stock-Based Compensation [Line Items]
Compensation expense	182,000	$ 130,000	$ 482,000	$ 290,000
Unrecognized estimated compensation cost related to non-vested stock options granted	1,000,000		$ 1,000,000
Vesting period of stock options and RSU			1 year
Restricted Stock Units (RSUs) [Member] | Director [Member]
Equity And Stock-Based Compensation [Line Items]
Percentage of shares vested			100.00%
Restricted Stock Units (RSUs) [Member] | Management [Member]
Equity And Stock-Based Compensation [Line Items]
Vesting period of stock options and RSU			4 years
Percentage of shares vested			25.00%
May 2014 Stock Repurchase Plan [Member]
Equity And Stock-Based Compensation [Line Items]
Repurchase program, amount authorized						$ 10,000,000
$25 Million Stock Repurchase Program [Member]
Equity And Stock-Based Compensation [Line Items]
Repurchase value	6,400,000		$ 6,400,000
Repurchase program, remaining amount authorized	$ 18,600,000		$ 18,600,000
Share price			$ 15.92
Class A Nonvoting Common Stock [Member]
Equity And Stock-Based Compensation [Line Items]
Common Stock authorized for issuance under 2010 Stock Incentive Plan	1,250,000		1,250,000
Class A [Member]
Equity And Stock-Based Compensation [Line Items]
Weighted average number of common stocks - repurchased	192,207		403,156
Class A [Member] | $25 Million Stock Repurchase Program [Member]
Equity And Stock-Based Compensation [Line Items]
Repurchase program, amount authorized					$ 25,000,000
Minimum [Member]
Equity And Stock-Based Compensation [Line Items]
Vesting period of stock options and RSU			0 years
Maximum [Member]
Equity And Stock-Based Compensation [Line Items]
Vesting period of stock options and RSU			4 years

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Stock-Based Compensation and Stock Repurchases (Schedule Of Fair Value Of Options, Weighted Average Assumptions) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Stock-Based Compensation and Stock Repurchases [Abstract]
Stock option exercise price	$ 15.94	$ 11.87
Risk-free interest rate	1.66%	1.20%
Expected option life in years	3 years 9 months	3 years 9 months
Expected volatility	24.95%	25.01%
Weighted average fair value	$ 3.45	$ 2.49

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Stock-Based Compensation and Stock Repurchases (Schedule Of Stock Options Outstanding And Exercisable) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Equity And Stock-Based Compensation [Line Items]
Weighted Average Exercise Price of Options Outstanding, Granted	$ 15.94	$ 11.87
Class A [Member]
Equity And Stock-Based Compensation [Line Items]
Common Stock Options Outstanding, Beginning balance	535,077	486,565	486,565
Common Stock Options Outstanding, Granted	169,762		169,327
Common Stock Options Outstanding, Exercised	(107,750)		(46,815)
Common Stock Options Outstanding, Forfeited	(2,500)		(74,000)
Common Stock Options Outstanding, Ending balance	594,589		535,077	486,565
Weighted Average Exercise Price of Options Outstanding, Beginning price	$ 9.84	$ 8.68	$ 8.68
Weighted Average Exercise Price of Options Outstanding, Granted	15.94		11.87
Weighted Average Exercise Price of Options Outstanding, Exercised	8.94		9.50
Weighted Average Exercise Price of Options Outstanding, Forfeited	6.23		7.02
Weighted Average Exercise Price of Options Outstanding, Ending price	$ 11.76		$ 9.84	$ 8.68
Weighted Average Remaining Years of Contractual Life	3 years 7 days		2 years 7 months 10 days	2 years 10 months 21 days
Aggregate Intrinsic Value, Beginning balance	$ 3,615,191	$ 2,188,011	$ 2,188,011
Aggregate Intrinsic Value, Exercised	595,873		220,002
Aggregate Intrinsic Value, Ending balance	$ 3,007,071		$ 3,615,191	$ 2,188,011

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Stock-Based Compensation and Stock Repurchases (Summary of Restricted Stock Units Granted) (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Sep. 30, 2017 shares
RSU Grants	138,691
Vested	43,398
Unvested	95,293
March 10, 2016 [Member]
RSU Grants	62,528
Vested	41,992
Unvested	20,536
April 11, 2016 [Member]
RSU Grants	5,625
Vested	1,406
Unvested	4,219
March 23, 2017 [Member]
RSU Grants	63,144
Unvested	63,144
August 29, 2017 [Member]
RSU Grants	7,394
Unvested	7,394
Director [Member]
RSU Grants	65,828
Director [Member] | March 10, 2016 [Member]
RSU Grants	35,147
Director [Member] | March 23, 2017 [Member]
RSU Grants	30,681
Management [Member]
RSU Grants	72,863
Management [Member] | March 10, 2016 [Member]
RSU Grants	27,381
Management [Member] | April 11, 2016 [Member]
RSU Grants	5,625
Management [Member] | March 23, 2017 [Member]
RSU Grants	32,463
Management [Member] | August 29, 2017 [Member]
RSU Grants	7,394

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Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value Measurements [Abstract]
Transfers of assets and liabilities between level 1, 2, 3	$ 0	$ 0	$ 0	$ 0

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Fair Value Measurements (Schedule Of Fair Value Carried At Cost And Measured On A Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable		$ 122,563	$ 121,204
Subordinated debt		15,854	15,247
Financial liabilities total		138,417	136,451
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable		122,563	121,204
Subordinated debt		15,854	15,247
Financial liabilities total		138,417	136,451
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable	[1]	123,399	120,622
Subordinated debt	[1]	27,913	27,913
Financial liabilities total	[1]	$ 151,312	$ 148,535

[1] These balances are presented before any deduction for deferred financing costs.

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Insurance Recoveries (Narrative) (Details) NZD in Thousands, $ in Thousands	1 Months Ended				9 Months Ended		12 Months Ended
	May 31, 2017 NZD	May 31, 2017 USD ($)	Apr. 30, 2017 NZD	Apr. 30, 2017 USD ($)	Sep. 30, 2017 NZD	Sep. 30, 2017 USD ($)	Dec. 31, 2016 NZD	Dec. 31, 2016 USD ($)
Insurance Recoveries [Abstract]
Insurance coverage limit			NZD 36,000	$ 25,000
Proceeds from insurance settlement	NZD 28,900	$ 20,000					NZD 7,100	$ 5,000
Total insurance gains					NZD 14,849	$ 10,740

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Insurance Recoveries (Allocation Of The Total Insurance Proceeds To The Various Risks and Bases) (Details) NZD in Thousands	9 Months Ended
	Sep. 30, 2017 NZD
Insurance Recoveries [Line Items]
Basis for Allocation	NZD 55,499
Percentage Allocation	100.00%
Allocation of Insurance Proceeds	NZD 36,034
Property Damage [Member]
Insurance Recoveries [Line Items]
Basis for Allocation	NZD 44,808
Percentage Allocation	81.00%
Allocation of Insurance Proceeds	NZD 29,093
Demolition Costs [Member]
Insurance Recoveries [Line Items]
Basis for Allocation	NZD 7,276
Percentage Allocation	13.00%
Allocation of Insurance Proceeds	NZD 4,724
Business Interruption [Member]
Insurance Recoveries [Line Items]
Basis for Allocation	NZD 3,415
Percentage Allocation	6.00%
Allocation of Insurance Proceeds	NZD 2,217

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Insurance Recoveries (Schedule Of Net Impact In Current Earnings) (Details) - 9 months ended Sep. 30, 2017 NZD in Thousands, $ in Thousands		NZD	USD ($)
Insurance Recoveries [Line Items]
Insurance Proceed Allocation		NZD 36,034
Recorded as of December 31, 2016		20,727
Changes in estimates and others		458
Total recorded values of recoverable components		21,185
Net Impact in Current Earnings		14,849	$ 10,740
Gain on insurance recoveries		12,700	9,217
Non-Operating Income [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation		33,817
Recorded as of December 31, 2016		20,727
Changes in estimates and others		347
Total recorded values of recoverable components		21,074
Net Impact in Current Earnings		12,743	9,217
Property Damage [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation		29,093
Property Damage [Member] | Non-Operating Income [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation	[1]	29,093
Recorded as of December 31, 2016	[1]	13,451
Changes in estimates and others	[1]	347
Total recorded values of recoverable components	[1]	13,798
Net Impact in Current Earnings	[1]	15,295	11,063
Demolition Costs [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation		4,724
Demolition Costs [Member] | Non-Operating Income [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation	[1]	4,724
Recorded as of December 31, 2016	[1]	7,276
Total recorded values of recoverable components	[1]	7,276
Net Impact in Current Earnings	[1]	(2,552)	(1,846)
Business Interruption [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation		2,217
Business Interruption [Member] | Operating Income [Member]
Insurance Recoveries [Line Items]
Insurance Proceed Allocation	[2]	2,217
Changes in estimates and others	[2]	111
Total recorded values of recoverable components	[2]	111
Net Impact in Current Earnings	[2]	NZD 2,106	$ 1,523

[1] The net impact to current earnings of $9.2 million (NZ$12.7 million) is recorded as "Gain on Insurance Recoveries" in our Consolidated Statement of Income.

[2] The impact to current earnings of $1.5 million (NZ$2.1 million) is recorded as part of the applicable segment revenues in our Consolidated Statement of Income.