Business Segments

6 Months Ended

Jun. 30, 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 and six months ended June 30, 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 June 30, 2013	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	64,659	$	6,896	$	(1,913)	$	69,642
Operating expense		53,008		2,730		(1,913)		53,825
Depreciation and amortization		2,525		1,015		--		3,540
General and administrative expense		801		214		--		1,015
Segment operating income	$	8,325	$	2,937	$	--	$	11,262
Three Months Ended June 30, 2012	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	57,988	$	6,841	$	(1,882)	$	62,947
Operating expense		48,347		2,582		(1,882)		49,047
Depreciation and amortization		2,733		1,087		--		3,820
General and administrative expense		782		146		--		928
Segment operating income	$	6,126	$	3,026	$	--	$	9,152

Reconciliation to net income attributable to Reading International, Inc. shareholders:		2013 Quarter		2012 Quarter
Total segment operating income	$	11,262	$	9,152
Non-segment:
Depreciation and amortization expense		110		97
General and administrative expense		3,386		3,398
Operating income		7,766		5,657
Interest expense, net		(2,636)		(5,683)
Other income		113		68
Loss on sale of assets		--		(2)
Income tax expense		(1,500)		(259)
Equity earnings of unconsolidated joint ventures and entities		432		399
Income from discontinued operations		--		44
Net income	$	4,175	$	224
Net (income) loss attributable to noncontrolling interests		(40)		15
Net income attributable to Reading International, Inc. common shareholders	$	4,135	$	239

Six Months Ended June 30, 2013	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	119,429	$	13,606	$	(3,826)	$	129,209
Operating expense		100,956		5,399		(3,826)		102,529
Depreciation and amortization		5,285		2,134		--		7,419
General and administrative expense		1,571		334		--		1,905
Segment operating income	$	11,617	$	5,739	$	--	$	17,356
Six Months Ended June 30, 2012	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	115,390	$	13,753	$	(3,765)	$	125,378
Operating expense		96,563		5,326		(3,765)		98,124
Depreciation and amortization		5,563		2,222		--		7,785
General and administrative expense		1,484		325		--		1,809
Segment operating income	$	11,780	$	5,880	$	--	$	17,660

Reconciliation to net income attributable		2013 Six		2012 Six
to Reading International, Inc. shareholders:		Months		Months
Total segment operating income	$	17,356	$	17,660
Non-segment:
Depreciation and amortization expense		221		236
General and administrative expense		6,833		6,937
Operating income		10,302		10,487
Interest expense, net		(5,309)		(9,443)
Other income		128		23
Loss on sale of assets		(7)		(2)
Income tax expense		(2,389)		(1,884)
Equity earnings of unconsolidated joint ventures and entities		779		812
Income from discontinued operations		--		120
Net income	$	3,504	$	113
Net income attributable to noncontrolling interests		(36)		(116)
Net income (loss) attributable to Reading International, Inc. common shareholders	$	3,468	$	(3)