Business Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Business Segments

Business Segments

We manage our operations on an individual park location basis, including operations from parks owned, managed and branded. Discrete financial information is maintained for each park and provided to our corporate management for review and as a basis for decision making. The primary performance measures used to allocate resources are Park EBITDA (defined as park-related operating earnings, excluding the impact of interest, taxes, depreciation, amortization and any other non-cash income or expenditures) and Park Free Cash Flow (defined as Park EBITDA less park-related capital expenditures). Primarily all of our parks provide similar products and services through a similar process to the same class of customer through a consistent method. We also believe that the parks share common economic characteristics. Based on these factors, we have only one reportable segment—theme parks.

The following table presents segment financial information and a reconciliation of net income to Park EBITDA. Park level expenses exclude all non-cash operating expenses, principally depreciation and amortization and all non-operating expenses.

	Three Months Ended						Six Months Ended
(Amounts in thousands)	June 30, 2016			June 30, 2015			June 30, 2016		June 30, 2015
Net income	$	80,100		$	84,614		$	33,165	$	14,288
Interest expense, net	20,190			18,938			39,648		37,525
Income tax expense (benefit)	41,059			26,859			17,199		(8,770		)
Depreciation and amortization	25,924			25,582			51,952		52,377
Corporate expenses	13,648			9,030			27,692		23,442
Stock-based compensation	4,244			4,408			6,250		26,715
Non-operating park level expense (income), net:
Loss on disposal of assets	597			1,567			114		2,233
Loss on debt extinguishment	2,377			6,557			2,377		6,557
Other (income) expense, net	(8		)	(407		)	691		(479		)
Park EBITDA	$	188,131		$	177,148		$	179,088	$	153,888

All of our owned or managed parks are located in the United States with the exception of one park in Mexico City, Mexico and one park in Montreal, Canada. We also have revenue and expenses related to the development of Six Flags-branded theme parks outside of North America. The following information reflects our long-lived assets (which consists of property and equipment and intangible assets), revenues and income (loss) before income taxes by domestic and foreign categories as of or for the six months ended June 30, 2016 and June 30, 2015:

	Domestic			Foreign		Total
2016	(Amounts in thousands)
Long-lived assets	$	2,127,713		$	85,990	$	2,213,703
Revenues	480,182			42,303		522,485
Income before income taxes	45,493			4,871		50,364
2015
Long-lived assets	$	2,131,692		$	86,823	$	2,218,515
Revenues	427,267			43,953		471,220
(Loss) income before income taxes	(365		)	5,883		5,518