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Description Of Business And Segment Reporting | 12 Months Ended
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Dec. 31, 2015
Description Of Business And Segment Reporting [Abstract] |
Description Of Business And Segment Reporting | NOTE 1 – Description of Business and Segment Reporting Reading International, Inc., a Nevada corporation (“RDI” and collectively with our consolidated subsidiaries and corporate predecessors, the “Company,” “Reading” and “we,” “us,” or “our”), was incorporated in 1999, and, following the consummation of a consolidation transaction on December 31, 2001, is now the owner of the consolidated businesses and assets of Reading Entertainment, Inc. (“RDGE”), Craig Corporation (“CRG”), and Citadel Holding Corporation (“CDL”). Our businesses consist primarily of:
| · |  | Development, ownership and operation of multiplex cinemas in the United States, Australia, and New Zealand; and
| · |  | Development, ownership, and operation of retail and commercial real estate in Australia, New Zealand, and the United States
Reported below are the operating segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer. In addition to the cinema exhibition and real estate activities, we have acquired, and continue to hold, raw land in urban and suburban centers in Australia, New Zealand, and the United States as part of our real estate activities. The tables below summarize the results of operations for each of our business segments. Operating expense includes costs associated with the day-to-day operations of the cinemas and the management of rental properties, including our live theater assets. ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | 2015 |  | 2014 |  | 2013
﻿(Dollars in thousands) |  | Cinema |  | Real Estate |  | Total |  | Cinema |  | Real Estate |  | Total |  | Cinema |  | Real Estate |  | Total
﻿Revenue |  | $ | 242,281 |  | $ | 21,579 |  | $ | 263,860 |  | $ | 237,861 |  | $ | 24,348 |  | $ | 262,209 |  | $ | 239,418 |  | $ | 26,456 |  | $ | 265,874
﻿Inter-segment elimination(1) |  |  | -- |  |  | - |  |  | (6,537) |  |  | -- |  |  | - |  |  | (7,461) |  |  | -- |  |  | -- |  |  | (7,653)
﻿Total revenue |  |  | 242,281 |  |  | 21,579 |  |  | 257,323 |  |  | 237,861 |  |  | 24,348 |  |  | 254,748 |  |  | 239,418 |  |  | 26,456 |  |  | 258,221
﻿Operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cost of services and products (excluding depreciation and amortization) |  |  | (196,544) |  |  | (10,948) |  |  | (207,492) |  |  | (195,896) |  |  | (9,770) |  |  | (205,666) |  |  | (200,859) |  |  | (10,830) |  |  | (211,689)
﻿Inter-segment elimination(1) |  |  | - |  |  | -- |  |  | 6,537 |  |  | - |  |  | -- |  |  | 7,461 |  |  | - |  |  | -- |  |  | 7,653
﻿Total cost of services and products |  |  | (196,544) |  |  | (10,948) |  |  | (200,955) |  |  | (195,896) |  |  | (9,770) |  |  | (198,205) |  |  | (200,859) |  |  | (10,830) |  |  | (204,036)
﻿Depreciation and amortization |  |  | (11,161) |  |  | (3,107) |  |  | (14,268) |  |  | (11,047) |  |  | (4,061) |  |  | (15,108) |  |  | (10,741) |  |  | (4,023) |  |  | (14,764)
﻿General and administrative expense |  |  | (3,000) |  |  | (728) |  |  | (3,728) |  |  | (3,575) |  |  | (1,042) |  |  | (4,617) |  |  | (3,273) |  |  | (644) |  |  | (3,917)
﻿Total operating expense |  |  | (210,705) |  |  | (14,783) |  |  | (218,951) |  |  | (210,518) |  |  | (14,873) |  |  | (217,930) |  |  | (214,873) |  |  | (15,497) |  |  | (222,717)
﻿Segment operating income |  | $ | 31,576 |  | $ | 6,796 |  | $ | 38,372 |  | $ | 27,343 |  | $ | 9,475 |  | $ | 36,818 |  | $ | 24,545 |  | $ | 10,959 |  | $ | 35,504
﻿ (1) Inter-segment eliminations relates to the internal charge between the two segments where the cinema operates within real estate owned within the group. ﻿ A reconciliation of segment operating income to income before income taxes is as follows: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2015 |  | 2014 |  | 2013
﻿Segment operating income |  | $ | 38,372 |  | $ | 36,818 |  | $ | 35,504
﻿Unallocated corporate expense: |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization expense |  |  | (294) |  |  | (360) |  |  | (433)
﻿General and administrative expense |  |  | (14,924) |  |  | (14,285) |  |  | (14,136)
﻿Interest expense, net |  |  | (7,304) |  |  | (9,000) |  |  | (10,037)
﻿Equity earnings of unconsolidated joint ventures and entities |  |  | 1,204 |  |  | 1,015 |  |  | 1,369
﻿Gain (loss) on sale of assets |  |  | 11,023 |  |  | 25 |  |  | (56)
﻿Other income (expense) |  |  | (440) |  |  | 1,646 |  |  | 1,876
﻿Income before income taxes |  | $ | 27,637 |  | $ | 15,859 |  | $ | 14,087
Assuming cash and cash equivalents are accounted for as corporate assets, total assets by business segment and by country are presented as follows: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | December 31, 2015 |  | December 31, 2014 |  | December 31, 2013
﻿By segment: |  |  |  |  |  |  |  |  |
﻿Cinema |  | $ | 107,808 |  | $ | 107,695 |  | $ | 120,709
﻿Real estate |  |  | 219,813 |  |  | 219,737 |  |  | 226,926
﻿Corporate (1) |  |  | 47,470 |  |  | 74,154 |  |  | 39,172
﻿Total assets |  | $ | 375,091 |  | $ | 401,586 |  | $ | 386,807
﻿By country: |  |  |  |  |  |  |  |  |
﻿United States |  | $ | 131,965 |  | $ | 141,768 |  | $ | 110,677
﻿Australia |  |  | 173,227 |  |  | 178,202 |  |  | 196,050
﻿New Zealand |  |  | 69,899 |  |  | 81,616 |  |  | 80,080
﻿Total assets |  | $ | 375,091 |  | $ | 401,586 |  | $ | 386,807
(1) Includes cash and cash equivalents of $19.7million, $50.2 million, and $37.7 million for the years ended December 31, 2015, 2014, and 2013, respectively. The following table sets forth our operating properties by country:
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | December 31, 2015 |  | December 31, 2014 |  | December 31, 2013
﻿Australia |  | $ | 106,985 |  | $ | 87,536 |  | $ | 97,240
﻿New Zealand |  |  | 36,526 |  |  | 39,800 |  |  | 36,319
﻿United States |  |  | 66,787 |  |  | 59,553 |  |  | 58,101
﻿Total operating property |  | $ | 210,298 |  | $ | 186,889 |  | $ | 191,660
﻿ The table below summarizes capital expenditures for the three years ended December 31, 2015: ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2015 |  | 2014 |  | 2013
﻿Segment capital expenditures |  | $ | 52,989 |  | $ | 14,310 |  | $ | 19,910
﻿Corporate capital expenditures |  |  | 130 |  |  | 604 |  |  | 172
﻿Total capital expenditures |  | $ | 53,119 |  | $ | 14,914 |  | $ | 20,082
﻿

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