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Financial Reporting By Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2019
Financial Reporting By Business Segments |
Segments' Internal Financial Reports | The following information (amounts in thousands) is derived directly from the segments’ internal financial reports used for corporate management purposes.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
Revenues: |  | ​ |  |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 1,421,446 | ​ | $ | 1,127,903 | ​ | $ | 1,059,660
Entertainment | ​ |  | 183,120 | ​ |  | 147,215 | ​ |  | 125,059
Corporate and Other | ​ |  | — | ​ |  | — | ​ |  | —
Total | ​ | $ | 1,604,566 | ​ | $ | 1,275,118 | ​ | $ | 1,184,719
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization: | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 201,068 | ​ | $ | 108,779 | ​ | $ | 102,759
Entertainment | ​ |  | 11,150 | ​ |  | 10,280 | ​ |  | 7,074
Corporate and Other | ​ |  | 1,629 | ​ |  | 1,817 | ​ |  | 2,126
Total | ​ | $ | 213,847 | ​ | $ | 120,876 | ​ | $ | 111,959
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income: | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 263,203 | ​ | $ | 247,885 | ​ | $ | 223,302
Entertainment | ​ |  | 45,361 | ​ |  | 27,686 | ​ |  | 33,472
Corporate and Other | ​ |  | (37,911) | ​ |  | (32,650) | ​ |  | (33,513)
Preopening costs (1) | ​ |  | (3,122) | ​ |  | (4,869) | ​ |  | (1,926)
Impairment charges (2) | ​ |  | — | ​ |  | (23,783) | ​ |  | (35,418)
Total operating income | ​ |  | 267,531 | ​ |  | 214,269 | ​ |  | 185,917
Interest expense | ​ |  | (131,620) | ​ |  | (74,961) | ​ |  | (66,051)
Interest income | ​ |  | 11,769 | ​ |  | 10,469 | ​ |  | 11,818
Loss from extinguishment of debt | ​ | ​ | (494) | ​ | ​ | — | ​ | ​ | —
Income (loss) from unconsolidated joint ventures (3) | ​ |  | (1,110) | ​ |  | 125,005 | ​ |  | (4,402)
Other gains and (losses), net | ​ |  | 693 | ​ |  | 1,633 | ​ |  | (337)
Income before income taxes | ​ | $ | 146,769 | ​ | $ | 276,415 | ​ | $ | 126,945
| (1) | Preopening costs for 2019 include $1.3 million and $1.9 million for the Hospitality and Entertainment segments, respectively. 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) | Loss from unconsolidated joint ventures for 2019 relates to the Entertainment segment. Income from unconsolidated 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 unconsolidated joint ventures for 2017 includes $1.9 million and $2.5 million for the Hospitality and Entertainment segments, respectively.
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2019 | ​ | 2018
Identifiable assets: |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 3,494,084 | ​ | $ | 3,547,638
Entertainment | ​ |  | 181,036 | ​ |  | 155,412
Corporate and Other | ​ |  | 413,348 | ​ |  | 150,833
Total identifiable assets | ​ | $ | 4,088,468 | ​ | $ | 3,853,883
​
Capital Expenditures for Continuing Operations | The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
Hospitality | ​ | $ | 120,899 | ​ | $ | 142,738 | ​ | $ | 163,227
Entertainment | ​ |  | 25,000 | ​ |  | 44,863 | ​ |  | 18,814
Corporate and other | ​ |  | 6,642 | ​ |  | 616 | ​ |  | 524
Total capital expenditures | ​ | $ | 152,541 | ​ | $ | 188,217 | ​ | $ | 182,565

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- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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