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Segment Information
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Information
SEGMENT INFORMATION
We have aggregated certain of our properties in order to present three Reportable Segments: (i) Las Vegas Locals; (ii) Downtown Las Vegas; and (iii) Midwest and South. The table in Note 1, Summary of Significant Accounting Policies, lists the classification of each of our properties.

Results of Operations - Total Reportable Segment Net Revenues and Adjusted EBITDA
We evaluate each of our wholly owned property's profitability based upon Property EBITDA, which represents each property's earnings before interest expense, income taxes, depreciation and amortization, project development, preopening and writedown expenses, other operating charges, net, share-based compensation expense, deferred rent, change in value of derivative instruments, and gain/loss on early retirements of debt, as applicable. Total Reportable Segment Adjusted EBITDA is the aggregate sum of the Property EBITDA for each of the properties included in our Las Vegas Locals, Downtown Las Vegas and Midwest and South. Results for Downtown Las Vegas include the results of our Hawaii-based travel agency and captive insurance company.
We reclassify the reporting of corporate expense on the accompanying table in order to exclude it from our subtotal for Total Reportable Segment Adjusted EBITDA. Furthermore, corporate expense excludes its portion of share-based compensation expense. Corporate expense represents unallocated payroll, professional fees, aircraft expenses and various other expenses not directly related to our casino and hotel operations.

The following table sets forth, for the periods indicated, certain operating data for our Reportable Segments, and reconciles Adjusted EBITDA to operating income, as reported in our accompanying consolidated statements of operations:
 
Year Ended December 31,
(In thousands)
2016
 
2015
 
2014
Net Revenues
 
 
 
 
 
Las Vegas Locals
$
647,867

 
$
610,107

 
$
592,652

Downtown Las Vegas
236,385

 
234,191

 
224,275

Midwest and South
1,299,724

 
1,355,134

 
1,325,328

Total Reportable Segment Net Revenues
$
2,183,976

 
$
2,199,432

 
$
2,142,255

 
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
 
Las Vegas Locals
$
176,420

 
$
157,312

 
$
144,397

Downtown Las Vegas
52,420

 
49,314

 
37,309

Midwest and South
367,365

 
380,942

 
345,058

Total Reportable Segment Adjusted EBITDA
596,205

 
587,568

 
526,764

Corporate expense
(59,875
)
 
(60,177
)
 
(59,420
)
Adjusted EBITDA
536,330

 
527,391

 
467,344

 
 
 
 
 
 
Other operating costs and expenses
 
 
 
 
 
Deferred rent
3,266

 
3,428

 
3,616

Depreciation and amortization
196,226

 
207,118

 
208,915

Project development, preopening and writedowns
22,107

 
6,907

 
13,747

Share-based compensation expense
15,518

 
19,264

 
18,666

Impairments of assets
38,302

 
18,565

 
48,681

Other operating charges, net
284

 
907

 
(13
)
Total other operating costs and expenses
275,703

 
256,189

 
293,612

Operating income
$
260,627

 
$
271,202

 
$
173,732



Total Assets
The Company's total assets, by Reportable Segment, consisted of the following amounts:
 
December 31,
(In thousands)
2016
 
2015
Assets
 
 
 
Las Vegas Locals
$
1,785,858

 
$
1,155,224

Downtown Las Vegas
157,319

 
138,159

Midwest and South
2,556,307

 
2,634,742

Total Reportable Segment assets
4,499,484

 
3,928,125

Corporate
171,267

 
422,775

Total assets
$
4,670,751

 
$
4,350,900



Capital Expenditures
The Company's capital expenditures by Reportable Segment, consisted of the following:
 
Year Ended December 31,
(In thousands)
2016
 
2015
 
2014
Capital Expenditures:
 
 
 
 
 
Las Vegas Locals
$
42,069

 
$
41,772

 
$
31,653

Downtown Las Vegas
28,431

 
13,000

 
9,917

Midwest and South
73,255

 
60,887

 
89,029

Total Reportable Segment Capital Expenditures
143,755

 
115,659

 
130,599

Corporate
16,672

 
12,646

 
(8,786
)
Total Capital Expenditures
160,427

 
128,305


121,813

Change in Accrued Property Additions
(69
)
 
2,865

 
15,938

Cash-Based Capital Expenditures
$
160,358

 
$
131,170

 
$
137,751


The Company utilizes the Corporate entities to centralize the development of major renovation and other capital development projects that are included as construction in progress. After the project is complete, the corporate entities transfer the projects to the segment subsidiaries.