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Quarterly Financial Information (Unaudited) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information (Unaudited) |
Quarterly Financial Information (Unaudited) | 15. Quarterly Financial Information (Unaudited) The following is selected unaudited quarterly financial data for the fiscal years ended December 31, 2018 and 2017 (amounts in thousands, except per share data). The sum of the quarterly per share amounts may not equal the annual totals due to rounding.
|  | 2018
|  | First |  | Second |  | Third |  | Fourth
|  | Quarter |  | Quarter |  | Quarter |  | Quarter
Revenues |  | $ | 288,370 |  | $ | 333,934 |  | $ | 292,249 |  | $ | 360,565
Depreciation and amortization |  |  | 28,666 |  |  | 29,995 |  |  | 30,994 |  |  | 31,221
Operating income |  |  | 45,944 |  |  | 76,699 |  |  | 40,100 |  |  | 51,526
Income before income taxes |  |  | 29,548 |  |  | 61,222 |  |  | 24,454 |  |  | 161,191
Provision for income taxes |  |  | (2,209) |  |  | (5,676) |  |  | (1,863) |  |  | (1,997)
Net income |  |  | 27,339 |  |  | 55,546 |  |  | 22,591 |  |  | 159,194
Net income per share |  |  | 0.53 |  |  | 1.08 |  |  | 0.44 |  |  | 3.10
Net income per share — assuming dilution |  |  | 0.53 |  |  | 1.08 |  |  | 0.44 |  |  | 3.09
|  | 2017
|  | First |  | Second |  | Third |  | Fourth
|  | Quarter |  | Quarter |  | Quarter |  | Quarter
Revenues |  | $ | 276,042 |  | $ | 298,778 |  | $ | 264,724 |  | $ | 345,175
Depreciation and amortization |  |  | 27,637 |  |  | 27,679 |  |  | 28,546 |  |  | 28,097
Operating income |  |  | 46,975 |  |  | 64,644 |  |  | 37,510 |  |  | 36,788
Income before income taxes |  |  | 33,213 |  |  | 48,191 |  |  | 24,400 |  |  | 21,141
(Provision) benefit for income taxes |  |  | (593) |  |  | (899) |  |  | (530) |  |  | 51,177
Net income |  |  | 32,620 |  |  | 47,292 |  |  | 23,870 |  |  | 72,318
Net income per share |  |  | 0.64 |  |  | 0.92 |  |  | 0.47 |  |  | 1.41
Net income per share — assuming dilution |  |  | 0.63 |  |  | 0.92 |  |  | 0.46 |  |  | 1.41
During the fourth quarter of 2018, the Company recognized a $131.4 million gain associated with the revaluation of its investment interest in the Gaylord Rockies joint venture, as described in Note 4. This gain is included in income from joint ventures in the accompanying consolidated statement of operations. During the fourth quarter of 2018, the Company incurred an impairment charge of $18.0 million associated with the closure of Opry City Stage, as described in Note 1. This impairment charge is included in impairment charges in the accompanying consolidated statement of operations. During the fourth quarter of 2017, the Company incurred an impairment charge of $35.4 million associated with the bonds it received in 2008 related to the Gaylord National construction, which it holds as notes receivable, as described in Note 3. This impairment charge is included in other-than-temporary impairment loss on held-to-maturity securities in the accompanying consolidated statement of operations. During the fourth quarter of 2017, the Company recognized an income tax benefit of $53.4 million associated with the release of valuation allowance, as described in Note 11, which is included in benefit for income taxes in the accompanying consolidated statement of operations.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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