Business Segments

6 Months Ended

Jun. 30, 2017

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 measure used to allocate resources is Park EBITDA (defined as park-related operating earnings, excluding the impact of interest, taxes, depreciation, amortization and any other non-cash income or 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, 2017			June 30, 2016			June 30, 2017			June 30, 2016
Net income	$	71,631		$	80,100		$	14,083		$	33,165
Interest expense, net	27,156			20,190			48,157			39,648
Income tax expense (benefit)	36,054			41,059			(1,537		)	17,199
Depreciation and amortization	26,822			25,924			54,113			51,952
Corporate expenses	11,448			13,648			26,490			27,692
Stock-based compensation	(15,305		)	4,244			(3,315		)	6,250
Non-operating park level expense (income), net:
Loss on disposal of assets	1,657			597			2,327			114
Loss on debt extinguishment	37,109			2,377			37,109			2,377
Other expense (income), net	568			(8		)	(335		)	691
Park EBITDA	$	197,140		$	188,131		$	177,092		$	179,088

All of our owned or managed parks are located in the United States with the exception of two parks in 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 before income taxes by domestic and foreign categories as of or for the six months ended June 30, 2017 and June 30, 2016:



	Domestic		Foreign		Total
2017	(Amounts in thousands)
Long-lived assets	$	2,146,867	$	102,351	$	2,249,218
Revenues	479,515		42,385		521,900
Income before income taxes	11,184		1,362		12,546
2016
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