XML 37 R22.htm IDEA: XBRL DOCUMENT
v3.22.4

Financial Reporting By Business Segments | 12 Months Ended
--- | ---
Dec. 31, 2022
Financial Reporting By Business Segments |
Financial Reporting By Business Segments | 13. 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 and the AC Hotel;
| ● | Entertainment, which includes the OEG business, specifically, the Grand Ole Opry, the Ryman Auditorium, WSM-AM, Ole Red, Block 21, the Company’s investment in Circle, and the Company’s 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.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Revenues: |  | ​ |  |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 1,537,974 | ​ | $ | 786,583 | ​ | $ | 466,045
Entertainment | ​ |  | 267,995 | ​ |  | 152,790 | ​ |  | 58,430
Corporate and Other | ​ |  | — | ​ |  | — | ​ |  | —
Total | ​ | $ | 1,805,969 | ​ | $ | 939,373 | ​ | $ | 524,475
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization: | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 189,375 | ​ | $ | 203,675 | ​ | $ | 198,073
Entertainment | ​ |  | 18,420 | ​ |  | 14,655 | ​ |  | 14,371
Corporate and Other | ​ |  | 821 | ​ |  | 2,027 | ​ |  | 2,638
Total | ​ | $ | 208,616 | ​ | $ | 220,357 | ​ | $ | 215,082
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income (loss): | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 310,924 | ​ | $ | (38,013) | ​ | $ | (204,868)
Entertainment | ​ |  | 61,030 | ​ |  | 20,382 | ​ |  | (34,242)
Corporate and Other | ​ |  | (43,803) | ​ |  | (40,624) | ​ |  | (31,433)
Preopening costs | ​ |  | (532) | ​ |  | (737) | ​ |  | (1,665)
Gain (loss) on sale of assets | ​ | ​ | (469) | ​ | ​ | 317 | ​ | ​ | 1,161
Credit loss on held-to-maturity securities (1) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (32,784)
Total operating income (loss) | ​ |  | 327,150 | ​ |  | (58,675) | ​ |  | (303,831)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ |  | (148,406) | ​ |  | (125,347) | ​ |  | (115,783)
Interest income | ​ |  | 5,750 | ​ |  | 5,685 | ​ |  | 7,304
Loss on extinguishment of debt | ​ | ​ | (1,547) | ​ | ​ | (2,949) | ​ | ​ | —
Loss from unconsolidated joint ventures (2) | ​ |  | (10,967) | ​ |  | (8,963) | ​ |  | (6,451)
Other gains and (losses), net | ​ |  | 1,743 | ​ |  | 405 | ​ |  | (14,976)
Income (loss) before income taxes | ​ | $ | 173,723 | ​ | $ | (189,844) | ​ | $ | (433,737)
(1) Credit loss on held-to-maturity securities for 2020 relates to the Hospitality segment.
| (2) | Loss from unconsolidated joint ventures relates to the Entertainment segment.
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2022 | ​ | 2021
Identifiable assets: |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 3,314,444 | ​ | $ | 3,266,679
Entertainment | ​ |  | 502,913 | ​ |  | 214,270
Corporate and Other | ​ |  | 223,266 | ​ |  | 99,576
Total identifiable assets | ​ | $ | 4,040,623 | ​ | $ | 3,580,525
​ The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020
Hospitality | ​ | $ | 70,406 | ​ | $ | 73,199 | ​ | $ | 146,654
Entertainment | ​ |  | 18,767 | ​ |  | 3,560 | ​ |  | 13,697
Corporate and other | ​ |  | 347 | ​ |  | 667 | ​ |  | 5,112
Total capital expenditures | ​ | $ | 89,520 | ​ | $ | 77,426 | ​ | $ | 165,463
​

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration