Financial Reporting By Business Segments

6 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Financial Reporting By Business Segments

14. FINANCIAL REPORTING BY BUSINESS SEGMENTS:

The Company’s operations are organized into three principal business segments:

• Hospitality, which includes Gaylord Opryland, Gaylord Palms, Gaylord Texan, Gaylord National, the Inn at Opryland, the AC Hotel, and the Company’s investment in the Gaylord Rockies joint venture;

• Entertainment, which includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, and the Company’s Nashville-based attractions, as well as the Company’s investment in a joint venture associated with a Times Square restaurant and entertainment venue; and

• Corporate and Other, which includes the Company’s corporate expenses.

The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2017			2016			2017			2016
Revenues:
Hospitality	$	263,373		$	262,329		$	517,527		$	506,520
Entertainment		35,405			33,886			57,293			51,192
Corporate and Other		—			—			—			—
Total	$	298,778		$	296,215		$	574,820		$	557,712
Depreciation and amortization:
Hospitality	$	25,547		$	24,181		$	50,725		$	50,650
Entertainment		1,592			1,561			3,500			3,208
Corporate and Other		540			667			1,091			1,324
Total	$	27,679		$	26,409		$	55,316		$	55,182
Operating income:
Hospitality	$	61,616		$	63,018		$	113,803		$	108,477
Entertainment		11,700			11,491			14,855			12,454
Corporate and Other		(8,129	)		(7,564	)		(16,195	)		(15,192	)
Preopening costs		(494	)		—			(710	)		—
Total operating income		64,693			66,945			111,753			105,739
Interest expense		(17,155	)		(16,016	)		(33,019	)		(32,055	)
Interest income		2,969			3,008			5,917			6,151
Loss from joint ventures		(943	)		(1,058	)		(1,717	)		(1,448	)
Other gains and (losses), net		(1,373	)		(133	)		(1,530	)		(180	)
Income before income taxes	$	48,191		$	52,746		$	81,404		$	78,207