XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Property And Equipment | 6 Months Ended
--- | ---
Jun. 30, 2017
Property And Equipment [Abstract] |
Property And Equipment | Note 5 – Property and Equipment Operating Property, net As of June 30, 2017 and December 31, 2016, property associated with our operating activities is summarized as follows: ﻿
﻿ |  |  |  |  |  |
﻿ |  | June 30, |  | December 31,
﻿(Dollars in thousands) |  | 2017 |  | 2016
﻿Land |  | $ | 76,182 |  | $ | 73,803
﻿Building and improvements |  |  | 129,106 |  |  | 122,863
﻿Leasehold improvements |  |  | 48,493 |  |  | 46,902
﻿Fixtures and equipment |  |  | 127,441 |  |  | 118,180
﻿Construction-in-progress |  |  | 13,710 |  |  | 11,517
﻿Total cost |  |  | 394,932 |  |  | 373,265
﻿ Less: accumulated depreciation |  |  | (175,398) |  |  | (161,379)
﻿Operating property, net |  | $ | 219,534 |  | $ | 211,886
﻿ Depreciation expense for operating property was $3.5 million and $7.3 million for the quarter and six months ended June 30, 2017 and $3.5 million and $7.1 million for the quarter and six months ended June 30, 2016, respectively. Investment and Development Property As of June 30, 2017 and December 31, 2016, our investment and development property is summarized below:
﻿ |  |  |  |  |  |
﻿ |  | June 30, |  | December 31,
﻿(Dollars in thousands) |  | 2017 |  | 2016
﻿Land |  | $ | 25,450 |  | $ | 24,616
﻿Building |  |  | 1,900 |  |  | 1,900
﻿Construction-in-progress (including capitalized interest) |  |  | 34,869 |  |  | 17,171
﻿Investment and development property |  | $ | 62,219 |  | $ | 43,687
﻿ Construction-in-P rogress – Operating and Investing P ropert ies Construction-in-P rogress balances are included in both our operating and development propert ies. The balances of our major projects along with the movements for the six months ended June 30, 2017 are shown below: ﻿
﻿ |  |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | Balance, December 31, 2016 |  | Additions during the period(1) |  | Completed during the period |  | Foreign currency movements |  | Balance, June 30, 2017
﻿Union Square development | $ | 11,412 | $ | 8,912 | $ | -- | $ | -- | $ | 20,324
﻿Newmarket Property development |  | 2,106 |  | 7,531 |  | -- |  | 278 |  | 9,915
﻿Courtenay Central development |  | 3,510 |  | 746 |  | -- |  | 209 |  | 4,465
﻿Cinema developments and improvements |  | 7,796 |  | 2,722 |  | (1,635) |  | 51 |  | 8,934
﻿Other real estate projects |  | 3,864 |  | 3,355 |  | (2,455) |  | 177 |  | 4,941
﻿Total | $ | 28,688 | $ | 23,266 | $ | (4,090) | $ | 715 | $ | 48,579
﻿ (1) Includes capitalized interest of $266,000 and $421,000 for the quarter and six months ended June 30, 2017. Real E state T ransactions ﻿ Sale of Landholding in Burwood, Australia On May 12, 2014, we entered into a contract to sell our undeveloped 50.6 acre parcel in Burwood, Victoria, Australia, to Australand Holdings Limited (now known as Frasers Property Australia, “Frasers”) for a purchase price of $50.6 million (AU$65.0 million). We received $5.9 million (AU$6.5 million) on May 23, 2014. The remaining purchase price of $44.9 million (AU$58.5 million) is due on December 31, 2017. The agreement provides for mandatory pre-payments in the event that any of the land is sold by the buyer, any such prepayment being in an amount equal to the greater of (a) 90% of the net sales price or (b) the balance of the purchase price multiplied by a fraction the numerator of which is the square footage of property being sold by the buyer and the denominator of which is the original square footage of the property being sold to the buyer. The agreement does not provide for the payment of interest on the balance owed. On June 19, 2017, Frasers sold a parcel of land for which we received additional payment in the amount of US$16.5 million (AU$21.8 million), representing 90% of the net sales price. We expect the final settlement on the remaining receivable amount of $28.1 million (AU36.7 million), included as part of “Receivables” in our Consolidated Balance Sheet, to occur in December 2017. Cumulatively, this transaction now has achieved the requisites to consummate the sale. Since there is reasonable assurance of cost recovery, the property ownership has transferred to Frasers and we have assessed the collectability of the remaining receivable to be high, we recognized the sale of the land and the total transaction gain, in the amount of $9.4 million (AU$12.5 million) during the quarter ended June 30, 2017, determined as follows: ﻿
﻿ |  |  |
﻿(Dollars in thousands) |  | In AU$
﻿Selling price |  | $ | 65,000
﻿Less: Property book value |  |  | (52,108)
﻿Total transaction gain, gross |  |  | 12,892
﻿Less: Direct costs incurred(1) |  |  | (439)
﻿Total transaction gain, net |  | $ | 12,453
﻿ (1) Represents commissions and legal expenses incurred in connection with this transaction. ﻿ New Corporate Headquarters in Los Angeles On April 11, 2016, we purchased a 24,000 square foot office building with 72 parking spaces located at 5995 Sepulveda Boulevard in Culver City, California for $11.2 million. The terms and circumstances of this acquisition were not considered to meet the definition of a business combination in accordance with U.S. GAAP. We currently use approximately 50% of the leasable area for our headquarters offices and intend to lease, over time, the remainder to unaffiliated third parties. Sale of Properties in Taupo, New Zealand On April 1, 2015, we entered into two definitive purchase and sale agreements to sell our properties at Taupo, New Zealand for a combined sales price of $2.4 million (NZ$3.4 million). The first agreement related to a property with a sales price of $1.6 million (NZ$2.2 million) and a book value of $1.3 million (NZ$1.8 million), which closed on April 30, 2015 when we received the sales price in full. The other agreement related to a property with a sales price of $831,000 (NZ$1.2 million) and a book value of $426,000 (NZ$615,000) which was completed and for which we received cash settlement representing the full sales price on March 31, 2016. The first transaction qualified as a sale under both U.S. GAAP and tax purposes during the year-ended December 31, 2015. The second transaction was recorded as a sale during the quarter ended March 31, 2016.

X
- Definition Disclosure of real estate assets (normally turning over within one year or one business cycle if longer) that are sold, held for sale apart from normal operations and anticipated to be sold within one year, real estate property currently under development, real estate currently held for development and long-lived, property that is physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables. + References No definition available. + Details
Name: | rdi_PropertySoldPropertyHeldForSalePropertyHeldForAndUnderDevelopmentPropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | rdi_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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