XML 35 R22.htm IDEA: XBRL DOCUMENT v3.20.2
Segment Information
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
Our real property business and our golf course business represent two reportable segments. The real property business segment consists of leased real property and represents the substantial majority of our business. The golf course business segment consists of four golf courses, with each being operating segments that are aggregated into one reportable segment.
The results of each reportable segment presented below are consistent with the way our management assesses these results and allocates resources. The following table presents certain information with respect to our segments:
Three Months Ended June 30, 2020Three Months Ended June 30, 2019
(In thousands)Real Property BusinessGolf Course BusinessVICI ConsolidatedReal Property BusinessGolf Course BusinessVICI Consolidated
Revenues$252,567  $5,335  $257,902  $212,463  $8,283  $220,746  
Operating income308,622  14  308,636  203,077  2,418  205,495  
Interest expense(77,693) —  (77,693) (54,819) —  (54,819) 
Loss on extinguishment of debt—  —  —  —  —  —  
Income before income taxes231,935  17  231,952  152,186  2,494  154,680  
Income tax expense(257) (52) (309) —  (553) (553) 
Net income (loss)231,678  (35) 231,643  152,186  1,941  154,127  
Depreciation31  1,182  1,213   1,016  1,018  
Total assets$16,188,235  $89,399  $16,277,634  $12,423,049  $98,997  $12,522,046  
Total liabilities$7,186,916  $16,307  $7,203,223  $4,434,057  $15,566  $4,449,623  

Six Months Ended June 30, 2020Six Months Ended June 30, 2019
(In thousands)Real Property BusinessGolf Course BusinessVICI ConsolidatedReal Property BusinessGolf Course BusinessVICI Consolidated
Revenues$501,268  $11,635  $512,903  $419,126  $15,622  $434,748  
Operating income395,555  1,102  396,657  402,623  4,738  407,361  
Interest expense(153,786) —  (153,786) (108,405) —  (108,405) 
Loss on extinguishment of debt(39,059) —  (39,059) —  —  —  
Income before income taxes209,222  1,119  210,341  303,276  4,851  308,127  
Income tax expense(514) (249) (763) —  (1,074) (1,074) 
Net income208,708  870  209,578  303,276  3,777  307,053  
Depreciation54  2,026  2,080   1,943  1,948  
Total assets$16,188,235  $89,399  $16,277,634  $12,423,049  $98,997  $12,522,046  
Total liabilities$7,186,916  $16,307  $7,203,223  $4,434,057  $15,566  $4,449,623