Business Segments

3 Months Ended

Mar. 31, 2013

Business Segments [Abstract]

Business Segments

Note 3 – Business Segments

We organize our operations into two reportable business segments within the meaning of FASB ASC 280-10 - Segment Reporting.  Our reportable segments are (1) cinema exhibition and (2) real estate.  The cinema exhibition segment is engaged in the development, ownership, and operation of multiplex cinemas.  The real estate segment is engaged in the development, ownership, and operation of commercial properties.  Incident to our real estate operations we have acquired, and continue to hold, raw land in urban and suburban centers in Australia, New Zealand, and the United States.

The tables below summarize the results of operations for each of our principal business segments for the three months ended March 31, 2013 and 2012, 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 (dollars in thousands):

Three Months Ended March 31, 2013	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	54,770	$	6,710	$	(1,913)	$	59,567
Operating expense		47,948		2,669		(1,913)		48,704
Depreciation and amortization		2,759		1,119		--		3,878
General and administrative expense		771		120		--		891
Segment operating income	$	3,292	$	2,802	$	--	$	6,094
Three Months Ended March 31, 2012	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	57,402	$	6,911	$	(1,882)	$	62,431
Operating expense		48,215		2,744		(1,882)		49,077
Depreciation and amortization		2,830		1,135		--		3,965
General and administrative expense		702		179		--		881
Segment operating income	$	5,655	$	2,853	$	--	$	8,508

Reconciliation to net loss attributable to Reading International, Inc. shareholders:		2013 Quarter		2012 Quarter
Total segment operating income	$	6,094	$	8,508
Non-segment:
Depreciation and amortization expense		112		139
General and administrative expense		3,448		3,539
Operating income		2,534		4,830
Interest expense, net		(2,673)		(3,759)
Other income (expense)		16		(45)
Loss on sale of assets		(7)		--
Income tax expense		(889)		(1,625)
Equity earnings of unconsolidated joint ventures and entities		347		413
Income from discontinued operations		--		77
Net loss	$	(672)	$	(109)
Net (income) loss attributable to noncontrolling interests		4		(130)
Net loss attributable to Reading International, Inc. common shareholders	$	(668)	$	(239)