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Description of the Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2019
Description of the Business and Summary of Significant Accounting Policies |
Estimated Useful Lives of Property and Equipment |
​ | ​ | ​
Buildings |  | 40 years
Land improvements |  | 20 years
Furniture, fixtures and equipment |  | 5-8 years
Leasehold improvements |  | The shorter of the lease term or useful life
Cash Paid for Interest | Cash paid for interest for the years ended December 31 was comprised of (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
Debt interest paid | ​ | $ | 121,876 | ​ | $ | 74,821 | ​ | $ | 63,325
Capitalized interest | ​ |  | (1,618) | ​ |  | (10,013) | ​ |  | (6,645)
Cash paid for interest, net of capitalized interest | ​ | $ | 120,258 | ​ | $ | 64,808 | ​ | $ | 56,680
​
Summary of Prepaid Expense and Other Assets | Prepaid expenses and other assets at December 31 consist of (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018
Prepaid expenses | ​ | $ | 18,888 | ​ | $ | 15,732
Supplemental deferred compensation plan assets | ​ |  | 29,174 | ​ |  | 24,687
Tax rebate receivables | ​ | ​ | 20,389 | ​ | ​ | 17,143
Earnest money deposit for potential Block 21 acquisition | ​ | ​ | 15,000 | ​ | ​ | —
Inventories | ​ |  | 10,329 | ​ |  | 9,823
Deferred financing costs on revolving credit facility | ​ | ​ | 8,493 | ​ | ​ | —
Derivative assets | ​ | ​ | 3,808 | ​ | ​ | —
Other | ​ |  | 17,764 | ​ |  | 10,855
Total prepaid expenses and other assets | ​ | $ | 123,845 | ​ | $ | 78,240
​
Summary of Estimated Amounts of Amortization Expense for Next Five Years | The gross carrying amount of intangible assets at December 31, 2019 and 2018 was $252.7 million and $252.2 million, respectively. Accumulated amortization of intangible assets at December 31, 2019 and 2018 was $45.6 million and $5.4 million, respectively. Amortization expense related to intangible assets during 2019, 2018 and 2017 was $40.2 million, $0.2 million and $0.1 million, respectively. The estimated amounts of amortization expense for the next five years are as follows (amounts in thousands):
​ | ​ | ​ | ​
2020 |  | $ | 40,198
2021 | ​ |  | 40,198
2022 | ​ |  | 22,240
2023 | ​ |  | 4,282
2024 | ​ |  | 4,044
​ | ​ | $ | 110,962
​
Accounts Payable and Accrued Liabilities of Continuing Operations | Accounts payable and accrued liabilities at December 31 consist of (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018
Trade accounts payable | ​ | $ | 40,238 | ​ | $ | 77,620
Property and other taxes payable | ​ |  | 57,668 | ​ |  | 35,947
Deferred revenues | ​ |  | 76,744 | ​ |  | 69,280
Accrued salaries and benefits | ​ |  | 35,303 | ​ |  | 21,544
Accrued interest payable | ​ |  | 16,520 | ​ |  | 16,027
Other accrued liabilities | ​ |  | 38,442 | ​ |  | 54,472
Total accounts payable and accrued liabilities | ​ | $ | 264,915 | ​ | $ | 274,890
​
Other Liabilities | Other liabilities at December 31 consist of (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018
Pension and postretirement benefits liability | ​ | $ | 32,670 | ​ | $ | 34,712
Straight-line lease liability | ​ |  | — | ​ |  | 100,068
Deferred compensation liability | ​ |  | 29,174 | ​ |  | 24,687
Derivative liabilities | ​ | ​ | 2,174 | ​ | ​ | —
Other | ​ |  | 953 | ​ |  | 1,576
Total other liabilities | ​ | $ | 64,971 | ​ | $ | 161,043
Revenues Disaggregated by Major Source | The Company’s revenues disaggregated by major source are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
Hotel group rooms | ​ | $ | 387,741 | ​ | $ | 312,364 | ​ | $ | 294,411
Hotel transient rooms |  | ​ | 169,821 |  |  | 142,006 |  |  | 137,357
Hotel food and beverage - banquets |  | ​ | 453,612 |  |  | 360,181 |  |  | 329,655
Hotel food and beverage - outlets |  | ​ | 207,158 |  |  | 159,662 |  |  | 154,290
Hotel other |  | ​ | 203,114 |  |  | 153,690 |  |  | 143,947
Entertainment admissions/ticketing |  | ​ | 81,434 |  |  | 69,291 |  |  | 63,586
Entertainment food and beverage |  | ​ | 63,815 |  |  | 45,961 |  |  | 31,901
Entertainment retail and other |  | ​ | 37,871 |  |  | 31,963 |  |  | 29,572
Total revenues |  | $ | 1,604,566 |  | $ | 1,275,118 |  | $ | 1,184,719
​
Hospitality Segment Revenues Disaggregated by Location | The Company’s Hospitality segment revenues disaggregated by location are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2019 |  | 2018 |  | 2017
Gaylord Opryland |  | $ | 385,610 | ​ | $ | 365,999 | ​ | $ | 337,764
Gaylord Palms |  | ​ | 208,298 | ​ |  | 200,763 | ​ |  | 195,735
Gaylord Texan |  | ​ | 292,548 | ​ |  | 260,418 | ​ |  | 230,085
Gaylord National |  | ​ | 281,367 | ​ |  | 274,299 | ​ |  | 268,313
Gaylord Rockies | ​ | ​ | 226,576 | ​ | ​ | — | ​ | ​ | —
AC Hotel |  | ​ | 11,725 | ​ |  | 10,761 | ​ |  | 11,805
Inn at Opryland and other |  | ​ | 15,322 | ​ |  | 15,663 | ​ |  | 15,958
Total Hospitality segment revenues | ​ | $ | 1,421,446 | ​ | $ | 1,127,903 | ​ | $ | 1,059,660
​
Income Per Share |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2019
​ |  | Income |  | Shares |  | Per Share
Net income available to common stockholders | ​ | $ | 145,794 | ​ | 51,609 | ​ | $ | 2.82
Effect of dilutive stock-based compensation | ​ | ​ | — | ​ | 169 | ​ | ​ | —
Effect of dilutive put rights | ​ |  | — |  | 197 | ​ |  | —
Net income available to common stockholders — assuming dilution | ​ | $ | 145,794 |  | 51,975 | ​ | $ | 2.81
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2018
​ |  | Income |  | Shares |  | Per Share
Net income available to common stockholders | ​ | $ | 264,670 |  | 51,294 | ​ | $ | 5.16
Effect of dilutive stock-based compensation | ​ |  | — |  | 213 | ​ |  | —
Net income available to common stockholders — assuming dilution | ​ | $ | 264,670 |  | 51,507 | ​ | $ | 5.14
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2017
​ |  | Income |  | Shares |  | Per Share
Net income available to common stockholders | ​ | $ | 176,100 |  | 51,147 | ​ | $ | 3.44
Effect of dilutive stock-based compensation | ​ |  | — |  | 224 | ​ |  | —
Net income available to common stockholders — assuming dilution | ​ | $ | 176,100 |  | 51,371 | ​ | $ | 3.43

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