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Investments in Affiliates | 12 Months Ended
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Jul. 31, 2015
Long-term Investments [Abstract] |
Investments in Affiliates | Investments in Affiliates The Company held the following investments in equity method affiliates as of July 31, 2015:
Equity Method Affiliates | Ownership Interest
Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC (“SSF/VARE”) | 50%
KRED | 50%
Clinton Ditch and Reservoir Company | 43%
The Company had total net investments in equity method affiliates of $7.4 million and $7.5 million as of July 31, 2015 and 2014, respectively, classified as “deferred charges and other assets” in the accompanying Consolidated Balance Sheets. The amount of retained earnings that represent undistributed earnings of 50-percent-or-less-owned entities accounted for by the equity method was $4.1 million and $4.2 million as of July 31, 2015 and 2014, respectively. During the years ended July 31, 2015, 2014 and 2013, distributions in the amounts of $1.0 million, $1.0 million and $0.7 million, respectively, were received from equity method affiliates. SSF/VARE is a real estate brokerage with multiple locations in Eagle and Summit Counties, Colorado in which the Company has a 50% ownership interest. SSF/VARE has been the broker for several of the Company’s developments. The Company recorded net real estate commissions expense of zero, zero and $0.3 million for payments made to SSF/VARE during the years ended July 31, 2015, 2014 and 2013, respectively. SSF/VARE leases space for real estate offices from the Company. The Company recognized approximately $0.5 million in revenue related to these leases for each of the years ended July 31, 2015, 2014 and 2013.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32787-111569 + Details
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