Business Segments

3 Months Ended

Mar. 31, 2014

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, 2014 and 2013, 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, 2014	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	53,424	$	6,579	$	(1,950)	$	58,053
Operating expense		45,740		2,975		(1,950)		46,765
Depreciation and amortization		2,796		918		--		3,714
General and administrative expense		898		173		--		1,071
Segment operating income	$	3,990	$	2,513	$	--	$	6,503
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

Reconciliation to net loss attributable to Reading International, Inc. shareholders:		2014 Quarter		2013 Quarter
Total segment operating income	$	6,503	$	6,094
Non-segment:
Depreciation and amortization expense		91		112
General and administrative expense		3,831		3,448
Operating income		2,581		2,534
Interest expense, net		(2,297)		(2,673)
Other income		744		16
Loss on sale of assets		--		(7)
Income tax expense		(1,592)		(889)
Equity earnings of unconsolidated joint ventures and entities		310		347
Net loss	$	(254)	$	(672)
Net loss attributable to noncontrolling interests		39		4
Net loss attributable to Reading International, Inc. common shareholders	$	(215)	$	(668)