Business Segments

6 Months Ended

Jun. 30, 2015

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.  We have acquired, and continue to hold, raw land in urban and suburban centers in Australia, New Zealand, and the United States, as part of our real estate activities.  

The tables below summarize the results of operations for each of our principal business segments for the three and six months ended June 30, 2015 and 2014, 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, 2015	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	68,957	$	5,537	$	(1,691)	$	72,803
Operating expense		52,913		2,295		(1,691)		53,517
Depreciation and amortization		2,637		825		--		3,462
General and administrative expense		839		199		--		1,038
Segment operating income	$	12,568	$	2,218	$	--	$	14,786
Three Months Ended June 30, 2014	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	65,854	$	5,782	$	(1,714)	$	69,922
Operating expense		51,647		2,259		(1,714)		52,192
Depreciation and amortization		2,818		956		--		3,774
General and administrative expense		1,202		259		--		1,461
Segment operating income	$	10,187	$	2,308	$	--	$	12,495

Reconciliation to net income attributable to	Quarter Ended
Reading International, Inc. stockholders:	June 30, 2015		June 30, 2014
Total segment operating income	$	14,786	$	12,495
Non-segment:
Depreciation and amortization expense		64		91
General and administrative expense		4,236		3,905
Operating income		10,486		8,499
Interest expense, net		1,601		2,830
Other income		1		646
Gain on sale of assets		8,201		--
Income tax expense		1,564		1,842
Equity earnings of unconsolidated joint ventures and entities		483		301
Net income	$	16,006	$	4,774
Net (income) attributable to noncontrolling interests		(9)		(15)
Net income attributable to Reading International, Inc. common stockholders	$	15,997	$	4,759

Six Months Ended June 30, 2015	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	125,855	$	10,940	$	(3,409)	$	133,386
Operating expense		99,772		4,435		(3,409)		100,798
Depreciation and amortization		5,464		1,670		--		7,134
General and administrative expense		1,713		327		--		2,040
Segment operating income	$	18,906	$	4,508	$	--	$	23,414
Six Months Ended June 30, 2014	Cinema Exhibition		Real Estate		Intersegment Eliminations		Total
Revenue	$	119,278	$	12,361	$	(3,664)	$	127,975
Operating expense		97,387		5,234		(3,664)		98,957
Depreciation and amortization		5,613		1,875		-		7,488
General and administrative expense		2,101		434		-		2,535
Segment operating income	$	14,177	$	4,818	$	--	$	18,995

Reconciliation to net income attributable	Six-Months Ended
to Reading International, Inc. stockholders:	June 30, 2015		June 30, 2014
Total segment operating income	$	23,414	$	18,995
Non-segment:
Depreciation and amortization expense		134		182
General and administrative expense		7,562		7,732
Operating income		15,718		11,081
Interest expense, net		(4,176)		(5,126)
Other income		(89)		1,388
Gain (loss) on sale of assets		11,023		--
Income tax expense		(4,088)		(3,435)
Equity earnings of unconsolidated joint ventures and entities		720		611
Net income	$	19,108	$	4,519
Net loss attributable to noncontrolling interests		7		23
Net income attributable to Reading International, Inc. common stockholders	$	19,115	$	4,542