XML 29 R12.htm IDEA: XBRL DOCUMENT

Supplementary Balance Sheet Information

12 Months Ended

Jul. 31, 2011

Supplementary Balance Sheet Information

6.	Supplementary Balance Sheet Information

The composition of property, plant and equipment follows (in thousands):


	July 31,
	2011			2010
Land and land improvements	$	271,742		$	270,382
Buildings and building improvements		801,582			769,382
Machinery and equipment		539,983			512,144
Furniture and fixtures		215,862			198,566
Software		64,408			56,498
Vehicles		40,627			35,447
Construction in progress		34,638			31,197
Gross property, plant and equipment		1,968,842			1,873,616
Accumulated depreciation		(947,106	)		(846,226	)
Property, plant and equipment, net	$	1,021,736		$	1,027,390

Depreciation expense for the years ended July 31, 2011, 2010 and 2009 totaled $116.3 million, $109.8 million and $106.6 million, respectively.

The composition of goodwill and intangible assets follows (in thousands):


	July 31,
	2011			2010

Goodwill
Goodwill	$	285,412		$	198,439
Accumulated amortization		(17,354	)		(17,354	)
Goodwill, net		268,058			181,085

Indefinite lived intangible assets
Gross indefinite-lived intangible assets		105,838			105,838
Accumulated amortization		(24,713	)		(24,713	)
Indefinite-lived intangible assets, net		81,125			81,125

Amortizable intangible assets
Gross amortizable intangible assets		51,850			48,326
Accumulated amortization		(41,877	)		(40,178	)
Amortizable intangible assets, net		9,973			8,148

Total gross intangible assets		157,688			154,164
Total accumulated amortization		(66,590	)		(64,891	)
Total intangible assets, net	$	91,098		$	89,273

Amortization expense for intangible assets subject to amortization for the years ended July 31, 2011, 2010 and 2009 totaled $1.7 million, $0.8 million and $0.6 million, respectively, and is estimated to be approximately $1.2 million annually, on average, for the next five fiscal years.

The changes in the net carrying amount of goodwill allocated between the Company's segments for the years ended July 31, 2011 and 2010 are as follows (in thousands):


	Mountain		Lodging		Goodwill, net
Balance at July 31, 2009	$	107,722	$	60,228	$	167,950
Acquisition		12,893		242		13,135
Balance at July 31, 2010		120,615		60,470		181,085
Acquisitions		86,973		--		86,973
Balance at July 31, 2011	$	207,588	$	60,470	$	268,058

The composition of accounts payable and accrued liabilities follows (in thousands):


	July 31,
	2011		2010
Trade payables	$	55,456	$	47,554
Real estate development payables		3,360		31,203
Deferred revenue		66,044		53,298
Deferred real estate and other deposits		11,741		42,891
Accrued salaries, wages and deferred compensation		26,350		21,425
Accrued benefits		22,107		23,547
Accrued interest		8,511		13,939
Other accruals		27,790		21,469
Total accounts payable and accrued liabilities	$	221,359	$	255,326

The composition of other long-term liabilities follows (in thousands):


	July 31,
	2011		2010
Private club deferred initiation fee revenue and deposits	$	146,065	$	148,184
Unfavorable lease obligation, net		38,729		--
Other long-term liabilities		50,635		48,976
Total other long-term liabilities	$	235,429	$	197,160