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Description Of Business And Segment Reporting | 12 Months Ended
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Dec. 31, 2018
Description Of Business And Segment Reporting [Abstract] |
Description Of Business And Segment Reporting | NOTE 1 – DESCRIPTION OF BUSINESS AND SEGMENT REPORTING ﻿ The Company ﻿ 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. Our businesses consist primarily of:
| · |  | the operation, development and ownership of multiplex cinemas in the United States, Australia, and New Zealand; and,
| · |  | the development, ownership, operation and/or rental of retail, commercial and live venue real estate assets in Australia, New Zealand, and the United States.
﻿ Business Segments ﻿ Our business is comprised of two operating segments, as follows: (i) cinema exhibition and (ii) real estate. Each of these segments has discrete and separate financial information and for which operating results are evaluated regularly by our Chief Executive Officer, the chief operating decision-maker of the Company. As part of our real estate segment, we have acquired, and continue to hold, raw land in urban and suburban centers in New Zealand, Australia and the United States. ﻿ 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. ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | 2018 |  | 2017 |  | 2016
﻿(Dollars in thousands) |  | Cinema |  | Real Estate |  | Total |  | Cinema |  | Real Estate |  | Total |  | Cinema |  | Real Estate |  | Total
﻿Revenue - Third party |  | $ | 294,177 |  | $ | 15,208 |  | $ | 309,385 |  | $ | 263,464 |  | $ | 16,415 |  | $ | 279,879 |  | $ | 256,922 |  | $ | 13,944 |  | $ | 270,866
﻿Inter-segment Revenue (1) |  |  | — |  |  | 9,027 |  |  | 9,027 |  |  | — |  |  | 7,573 |  |  | 7,573 |  |  | — |  |  | 7,366 |  |  | 7,366
﻿Total Segment Revenue |  |  | 294,177 |  |  | 24,235 |  |  | 318,412 |  |  | 263,464 |  |  | 23,988 |  |  | 287,452 |  |  | 256,922 |  |  | 21,310 |  |  | 278,232
﻿Operating expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿Cost of services and products - Third party |  |  | (225,791) |  |  | (9,904) |  |  | (235,695) |  |  | (207,447) |  |  | (9,436) |  |  | (216,883) |  |  | (198,523) |  |  | (9,044) |  |  | (207,567)
﻿Inter-segment Cost of services (1) |  |  | (9,027) |  |  | — |  |  | (9,027) |  |  | (7,573) |  |  | — |  |  | (7,573) |  |  | (7,366) |  |  | — |  |  | (7,366)
﻿Total of services and products (excluding depreciation and amortization) |  |  | (234,818) |  |  | (9,904) |  |  | (244,722) |  |  | (215,020) |  |  | (9,436) |  |  | (224,456) |  |  | (205,889) |  |  | (9,044) |  |  | (214,933)
﻿Depreciation and amortization |  |  | (16,314) |  |  | (5,567) |  |  | (21,881) |  |  | (12,213) |  |  | (4,256) |  |  | (16,469) |  |  | (11,772) |  |  | (3,522) |  |  | (15,294)
﻿General and administrative expense |  |  | (3,724) |  |  | (2,326) |  |  | (6,050) |  |  | (3,261) |  |  | (2,140) |  |  | (5,401) |  |  | (3,763) |  |  | (1,422) |  |  | (5,185)
﻿Total operating expense |  |  | (254,856) |  |  | (17,797) |  |  | (272,653) |  |  | (230,494) |  |  | (15,832) |  |  | (246,326) |  |  | (221,424) |  |  | (13,988) |  |  | (235,412)
﻿Segment operating income |  | $ | 39,321 |  | $ | 6,438 |  | $ | 45,759 |  | $ | 32,970 |  | $ | 8,156 |  | $ | 41,126 |  | $ | 35,498 |  | $ | 7,322 |  | $ | 42,820
﻿
| (1) |  | Inter-segment Revenues and Cost of services 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) |  | 2018 |  | 2017 |  | 2016
﻿Segment operating income |  | $ | 45,759 |  | $ | 41,126 |  | $ | 42,820
﻿Unallocated corporate expense: |  |  |  |  |  |  |  |  |
﻿Depreciation and amortization expense |  |  | (394) |  |  | (473) |  |  | (395)
﻿General and administrative expense |  |  | (21,287) |  |  | (19,947) |  |  | (21,721)
﻿Interest expense, net |  |  | (6,837) |  |  | (6,194) |  |  | (6,782)
﻿Equity earnings of unconsolidated joint ventures |  |  | 974 |  |  | 815 |  |  | 999
﻿(Loss) gain on sale of assets |  |  | (41) |  |  | 9,360 |  |  | 393
﻿Casualty gain (loss) |  |  | — |  |  | 9,217 |  |  | (1,421)
﻿Other (expense) income |  |  | (256) |  |  | 588 |  |  | (63)
﻿Income before income taxes |  | $ | 17,918 |  | $ | 34,492 |  | $ | 13,830
﻿ Assuming cash and cash equivalents are accounted for as corporate assets, total assets by business segment and by country are presented as follows: ﻿ ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | December 31,
﻿(Dollars in thousands) |  | 2018 |  | 2017
﻿By segment: |  |  |  |  |  |
﻿Cinema |  | $ | 138,850 |  | $ | 135,184
﻿Real estate |  |  | 263,783 |  |  | 249,622
﻿Corporate (1) |  |  | 36,395 |  |  | 38,597
﻿Total assets |  | $ | 439,028 |  | $ | 423,403
﻿By country: |  |  |  |  |  |
﻿United States |  | $ | 220,777 |  | $ | 188,639
﻿Australia |  |  | 156,768 |  |  | 169,412
﻿New Zealand |  |  | 61,483 |  |  | 65,352
﻿Total assets |  | $ | 439,028 |  | $ | 423,403
﻿
| (1) |  | Corporate Assets includes cash and cash equivalents of $13.1 million and $13.7 million as of December 31, 2018 and 2017, respectively.
﻿ The following table sets forth our operating properties by country: ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | December 31,
﻿(Dollars in thousands) |  | 2018 |  | 2017
﻿United States |  | $ | 95,710 |  | $ | 89,183
﻿Australia |  |  | 132,624 |  |  | 143,200
﻿New Zealand |  |  | 29,333 |  |  | 32,341
﻿Total operating property |  | $ | 257,667 |  | $ | 264,724
﻿ The table below summarizes capital expenditures for the three years ended December 31, 2018: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | 2018 |  | 2017 |  | 2016
﻿Segment capital expenditures |  | $ | 56,795 |  | $ | 76,300 |  | $ | 49,023
﻿Corporate capital expenditures |  |  | 32 |  |  | 408 |  |  | 143
﻿Total capital expenditures |  | $ | 56,827 |  | $ | 76,708 |  | $ | 49,166

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