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Financial Reporting By Business Segments | 12 Months Ended
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Dec. 31, 2018
Financial Reporting By Business Segments |
Financial Reporting By Business Segments | 14. Financial Reporting By Business Segments The Company’s continuing operations are organized into the following principal business segments:
| · |  | Hospitality, which includes the Gaylord Hotels properties, the Inn at Opryland, the AC Hotel, and the Company’s investment in the Gaylord Rockies joint venture;
| · |  | Entertainment, which includes the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, and the Company’s other Nashville-based attractions; and
| · |  | Corporate and Other, which includes the Company’s corporate expenses.
The following information (amounts in thousands) is derived directly from the segments’ internal financial reports used for corporate management purposes.
| 2018 |  | 2017 |  | 2016
Revenues: |  |  |  |  |  |  |  |
Hospitality | $ | 1,127,903 |  | $ | 1,059,660 |  | $ | 1,039,643
Entertainment |  | 147,215 |  |  | 125,059 |  |  | 109,564
Corporate and Other |  | — |  |  | — |  |  | —
Total | $ | 1,275,118 |  | $ | 1,184,719 |  | $ | 1,149,207
Depreciation and amortization: |  |  |  |  |  |  |  |
Hospitality | $ | 108,779 |  | $ | 102,759 |  | $ | 100,186
Entertainment |  | 10,280 |  |  | 7,074 |  |  | 7,034
Corporate and Other |  | 1,817 |  |  | 2,126 |  |  | 2,596
Total | $ | 120,876 |  | $ | 111,959 |  | $ | 109,816
Operating income: |  |  |  |  |  |  |  |
Hospitality | $ | 247,885 |  | $ | 223,302 |  | $ | 217,018
Entertainment |  | 27,686 |  |  | 33,472 |  |  | 27,903
Corporate and Other |  | (32,650) |  |  | (33,513) |  |  | (29,479)
Preopening costs (1) |  | (4,869) |  |  | (1,926) |  |  | —
Impairment charges (2) |  | (23,783) |  |  | (35,418) |  |  | —
Total operating income |  | 214,269 |  |  | 185,917 |  |  | 215,442
Interest expense |  | (74,961) |  |  | (66,051) |  |  | (63,906)
Interest income |  | 10,469 |  |  | 11,818 |  |  | 11,500
Income (loss) from joint ventures (3) |  | 125,005 |  |  | (4,402) |  |  | (2,794)
Other gains and (losses), net |  | 1,633 |  |  | (337) |  |  | 2,524
Income before income taxes | $ | 276,415 |  | $ | 126,945 |  | $ | 162,766
| (1) |  | Preopening costs for 2018 include $2.9 million and $1.9 million for the Hospitality and Entertainment segments, respectively. Preopening costs for 2017 include $0.3 million and $1.6 million for the Hospitality and Entertainment segments, respectively.
| (2) |  | Impairment charges for 2018 relate to the Entertainment segment. Impairment charges for 2017 relate to the Hospitality segment.
| (3) |  | Income from joint ventures for 2018 includes $124.4 million (which includes the gain discussed in Note 4) and $0.6 million for the Hospitality and Entertainment segments, respectively. Loss from joint ventures for 2017 includes $1.9 million and $2.5 million for the Hospitality and Entertainment segments, respectively. Loss from joint ventures for 2016 includes $1.2 million and $1.6 million for the Hospitality and Entertainment segments, respectively.
|  | December 31, |  | December 31,
|  | 2018 |  | 2017
Identifiable assets: |  |  |  |  |  |
Hospitality |  | $ | 3,547,638 |  | $ | 2,256,395
Entertainment |  |  | 155,412 |  |  | 132,671
Corporate and Other |  |  | 150,833 |  |  | 135,162
Total identifiable assets |  | $ | 3,853,883 |  | $ | 2,524,228
The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):
|  | 2018 |  | 2017 |  | 2016
Hospitality |  | $ | 142,738 |  | $ | 163,227 |  | $ | 96,372
Entertainment |  |  | 44,863 |  |  | 18,814 |  |  | 20,940
Corporate and other |  |  | 616 |  |  | 524 |  |  | 665
Total capital expenditures |  | $ | 188,217 |  | $ | 182,565 |  | $ | 117,977

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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