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Description Of Business And Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2016
Description Of Business And Segment Reporting [Abstract]  
Summary Of Results Of Operations For Principal Business Segments



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

2016

 

2015(2)

 

2014(2)

(Dollars in thousands)

 

Cinema

 

Real Estate

 

Total

 

Cinema

 

Real Estate

 

Total

 

Cinema

 

Real Estate

 

Total

Revenue

 

$

 256,922 

 

$

 20,917 

 

$

 277,839 

 

$

 242,823 

 

$

 21,579 

 

$

 264,402 

 

$

 238,355 

 

$

 24,348 

 

$

 262,703 

Inter-segment elimination(1)

 

 

         --

 

 

       --

 

 

 (7,366)

 

 

         --

 

 

       --

 

 

 (6,537)

 

 

        --

 

 

        --

 

 

 (7,461)

Total revenue

 

 

 256,922 

 

 

 20,917 

 

 

 270,473 

 

 

 242,823 

 

 

 21,579 

 

 

 257,865 

 

 

 238,355 

 

 

 24,348 

 

 

 255,242 

Operating expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of services and products (excluding depreciation and amortization)

 

 

 (205,889)

 

 

 (9,044)

 

 

 (214,933)

 

 

 (196,544)

 

 

 (10,948)

 

 

 (207,492)

 

 

 (195,896)

 

 

 (9,770)

 

 

 (205,666)

Inter-segment elimination(1)

 

 

         --

 

 

       --

 

 

 7,366 

 

 

        --

 

 

       --

 

 

 6,537 

 

 

        --

 

 

        --

 

 

 7,461 

Total cost of services and products

 

 

 (205,889)

 

 

 (9,044)

 

 

 (207,567)

 

 

 (196,544)

 

 

 (10,948)

 

 

 (200,955)

 

 

 (195,896)

 

 

 (9,770)

 

 

 (198,205)

Depreciation and amortization

 

 

 (11,772)

 

 

 (3,522)

 

 

 (15,294)

 

 

 (11,161)

 

 

 (3,107)

 

 

 (14,268)

 

 

 (11,047)

 

 

 (4,061)

 

 

 (15,108)

General and administrative expense

 

 

 (3,763)

 

 

 (1,422)

 

 

 (5,185)

 

 

 (3,000)

 

 

 (728)

 

 

 (3,728)

 

 

 (3,575)

 

 

 (1,042)

 

 

 (4,617)

Total operating expense

 

 

 (221,424)

 

 

 (13,988)

 

 

 (228,046)

 

 

 (210,705)

 

 

 (14,783)

 

 

 (218,951)

 

 

 (210,518)

 

 

 (14,873)

 

 

 (217,930)

Segment operating income

 

$

 35,498 

 

$

 6,929 

 

$

 42,427 

 

$

 32,118 

 

$

 6,796 

 

$

 38,914 

 

$

 27,837 

 

$

 9,475 

 

$

 37,312 



(1) Inter-segment eliminations relate to the internal charge between the two segments where the cinema operates within real estate owned within the group.

(2) Balances relating to Cinema segment included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes).



Reconciliation To Net Income Attributable To Common Shareholders



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

2016

 

2015(1)

 

2014(1)

Segment operating income

 

$

 42,427 

 

$

 38,914 

 

$

 37,312 

Unallocated corporate expense:

 

 

 

 

 

 

 

 

 

Depreciation and amortization expense

 

 

 (395)

 

 

 (294)

 

 

 (360)

General and administrative expense

 

 

 (21,721)

 

 

 (14,924)

 

 

 (14,285)

Interest expense, net

 

 

 (6,782)

 

 

 (7,304)

 

 

 (9,000)

Equity earnings of unconsolidated joint ventures

 

 

 999 

 

 

 1,204 

 

 

 1,015 

Gain on sale of assets

 

 

 393 

 

 

 11,023 

 

 

 25 

Casualty loss

 

 

 (1,421)

 

 

--

 

 

--

Other income (expense)

 

 

 (63)

 

 

 (440)

 

 

 1,646 

Income before income taxes

 

$

 13,437 

 

$

 28,179 

 

$

 16,353 



(1) 2015 and 2014 balances included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes).

Summary Of Assets



 

 

 

 

 

 

(Dollars in thousands)

 

December 31, 2016

 

December 31, 2015(2)(3)

By segment:

 

 

 

 

 

 

Cinema

 

$

 133,057 

 

$

 106,201 

Real estate

 

 

 240,362 

 

 

 219,497 

Corporate (1)

 

 

 32,347 

 

 

 46,500 

Total assets

 

$

 405,766 

 

$

 372,198 

By country:

 

 

 

 

 

 

United States

 

$

 161,922 

 

$

 129,254 

Australia

 

 

 170,556 

 

 

 173,045 

New Zealand

 

 

 73,288 

 

 

 69,899 

Total assets

 

$

 405,766 

 

$

 372,198 

(1) Corporate Assets includes cash and cash equivalents of $19.0 million and $19.7 million as of December 31, 2016 and 2015, respectively.

(2) The balance as of December 31, 2015 included the reclassification adjustment relating to netting of deferred financing costs amounting to $1.8 million, as discussed in Note 2 – Summary of Significant Accounting Policies – Recently Adopted and Issued Accounting Pronouncements.

(3) The balances as of December 31, 2015 included the restatement impact as a result of a change in accounting principle (see Note 2 – Summary of Significant Accounting Policies – Accounting Changes).

Schedule Of Operating Property By Country



 

 

 

 

 

 

(Dollars in thousands)

 

December 31, 2016

 

December 31, 2015

United States

 

$

 75,845 

 

$

 66,787 

Australia

 

 

 103,430 

 

 

 106,985 

New Zealand

 

 

 32,611 

 

 

 36,526 

Total operating property

 

$

 211,886 

 

$

 210,298 



Summary Of Capital Expenditures



 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

2016

 

2015

 

2014

Segment capital expenditures

 

$

 49,023 

 

$

 52,989 

 

$

 14,310 

Corporate capital expenditures

 

 

 143 

 

 

 130 

 

 

 604 

Total capital expenditures

 

$

 49,166 

 

$

 53,119 

 

$

 14,914