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Description Of Business And Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2019
Description Of Business And Segment Reporting [Abstract]  
Summary Of Results Of Operations For Principal Business Segments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

2019

 

2018

 

2017

(Dollars in thousands)

 

Cinema

 

Real
Estate

 

Total

 

Cinema

 

Real
Estate

 

Total

 

Cinema

 

Real
Estate

 

Total

Revenue - third party

 

$

 262,189 

 

$

 14,579 

 

$

 276,768 

 

$

 293,723 

 

$

 15,208 

 

$

 308,931 

 

$

 263,141 

 

$

 16,415 

 

$

 279,556 

Inter-segment revenue (1)

 

 

 —

 

 

 7,326 

 

 

 7,326 

 

 

 —

 

 

 9,027 

 

 

 9,027 

 

 

 —

 

 

 7,573 

 

 

 7,573 

Total segment revenue

 

 

 262,189 

 

 

 21,905 

 

 

 284,094 

 

 

 293,723 

 

 

 24,235 

 

 

 317,958 

 

 

 263,141 

 

 

 23,988 

 

 

 287,129 

Operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expense - Third Party

 

 

 (210,050)

 

 

 (9,453)

 

 

 (219,503)

 

 

 (225,791)

 

 

 (9,904)

 

 

 (235,695)

 

 

 (207,447)

 

 

 (9,436)

 

 

 (216,883)

Inter-Segment Operating Expenses (1)

 

 

 (7,326)

 

 

 —

 

 

 (7,326)

 

 

 (9,027)

 

 

 —

 

 

 (9,027)

 

 

 (7,573)

 

 

 —

 

 

 (7,573)

Total of services and products (excluding depreciation and amortization)

 

 

 (217,376)

 

 

 (9,453)

 

 

 (226,829)

 

 

 (234,818)

 

 

 (9,904)

 

 

 (244,722)

 

 

 (215,020)

 

 

 (9,436)

 

 

 (224,456)

Depreciation and amortization

 

 

 (16,940)

 

 

 (5,393)

 

 

 (22,333)

 

 

 (16,314)

 

 

 (5,567)

 

 

 (21,881)

 

 

 (12,213)

 

 

 (4,256)

 

 

 (16,469)

General and administrative expense

 

 

 (4,544)

 

 

 (1,918)

 

 

 (6,462)

 

 

 (3,724)

 

 

 (2,326)

 

 

 (6,050)

 

 

 (3,261)

 

 

 (2,140)

 

 

 (5,401)

Total operating expense

 

 

 (238,860)

 

 

 (16,764)

 

 

 (255,624)

 

 

 (254,856)

 

 

 (17,797)

 

 

 (272,653)

 

 

 (230,494)

 

 

 (15,832)

 

 

 (246,326)

Segment operating income (loss)

 

$

 23,329 

 

$

 5,141 

 

$

 28,470 

 

$

 38,867 

 

$

 6,438 

 

$

 45,305 

 

$

 32,647 

 

$

 8,156 

 

$

 40,803 



(1)

Inter-segment Revenues and Operating Expense relates to the internal charge between the two segments where the cinema operates within real estate owned within the group.

Reconciliation To Net Income Attributable To Common Shareholders



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

2019

 

2018

 

2017

Segment operating income (loss)

 

$

 28,470 

 

$

 45,305 

 

$

 40,803 

Unallocated corporate expense:

 

 

 

 

 

 

 

 

 

Depreciation and amortization expense

 

 

 (414)

 

 

 (394)

 

 

 (473)

General and administrative expense

 

 

 (18,933)

 

 

 (21,287)

 

 

 (19,947)

Interest expense, net

 

 

 (7,904)

 

 

 (6,837)

 

 

 (6,194)

Equity earnings of unconsolidated joint ventures

 

 

 792 

 

 

 974 

 

 

 815 

(Loss) gain on sale of assets

 

 

 (2)

 

 

 (41)

 

 

 9,360 

Casualty gain (loss)

 

 

 —

 

 

 —

 

 

 9,217 

Other (expense) income

 

 

 325 

 

 

 (256)

 

 

 588 

Income (loss) before income taxes

 

$

 2,334 

 

$

 17,464 

 

$

 34,169 



Summary Of Assets



 

 

 

 

 

 



 

 

 

 

 

 



 

December 31,

(Dollars in thousands)

 

2019

 

2018

By segment:

 

 

 

 

 

 

Cinema

 

$

 364,905 

 

$

 138,850 

Real estate

 

 

 295,213 

 

 

 263,782 

Corporate (1)

 

 

 14,871 

 

 

 36,605 

Total assets

 

$

 674,989 

 

$

 439,237 

By country:

 

 

 

 

 

 

United States

 

$

 356,191 

 

$

 220,986 

Australia

 

 

 248,031 

 

 

 156,768 

New Zealand

 

 

 70,767 

 

 

 61,483 

Total assets

 

$

 674,989 

 

$

 439,237 



(1)

Corporate Assets includes cash and cash equivalents of $12.1 million and $13.1 million as of December 31, 2019 and 2018, respectively.
Schedule Of Operating Property By Country



 

 

 

 

 

 



 

 

 

 

 

 



 

December 31,

(Dollars in thousands)

 

2019

 

2018

United States

 

$

 91,704 

 

$

 95,710 

Australia

 

 

 137,677 

 

 

 132,624 

New Zealand

 

 

 28,757 

 

 

 29,333 

Total operating property

 

$

 258,138 

 

$

 257,667 



Summary Of Capital Expenditures



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

2019

 

2018

 

2017

Segment capital expenditures

 

$

 47,555 

 

$

 56,795 

 

$

 76,300 

Corporate capital expenditures

 

 

 167 

 

 

 32 

 

 

 408 

Total capital expenditures

 

$

 47,722 

 

$

 56,827 

 

$

 76,708