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Supplementary Balance Sheet Information | 12 Months Ended
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Jul. 31, 2017
Balance Sheet Related Disclosures [Abstract] |
Supplementary Balance Sheet Information | Supplementary Balance Sheet Information The composition of property, plant and equipment, including capital lease assets, follows (in thousands):
| July 31,
| 2017 | 2016
Land and land improvements | $ | 553,655 |  | $ | 440,300 |
Buildings and building improvements | 1,210,864 |  | 1,025,515 |
Machinery and equipment | 987,080 |  | 866,008 |
Furniture and fixtures | 280,292 |  | 284,959 |
Software | 108,048 |  | 103,754 |
Vehicles | 59,596 |  | 58,159 |
Construction in progress | 49,359 |  | 39,396 |
Gross property, plant and equipment | 3,248,894 |  | 2,818,091 |
Accumulated depreciation | (1,534,740 | ) | (1,454,277 | )
Property, plant and equipment, net | $ | 1,714,154 |  | $ | 1,363,814 |
During the year ended July 31, 2016, the Company recorded the disposal of gross property, plant and equipment of $67.4 million from prior years, which had been fully depreciated resulting in a corresponding reduction to accumulated depreciation and no net effect to the net carrying value of Property, plant and equipment, net. Depreciation expense, which included depreciation of assets recorded under capital leases, for the years ended July 31, 2017, 2016 and 2015 totaled $180.8 million, $156.8 million and $144.0 million, respectively. The following table shows the composition of property, plant and equipment recorded under capital leases as of July 31, 2017 and 2016 (in thousands):
| July 31,
| 2017 | 2016
Land | $ | 31,818 |  | $ | 31,818 |
Land improvements | 49,228 |  | 49,228 |
Buildings and building improvements | 42,910 |  | 42,910 |
Machinery and equipment | 61,156 |  | 61,175 |
Gross property, plant and equipment | 185,112 |  | 185,131 |
Accumulated depreciation | (37,000 | ) | (27,110 | )
Property, plant and equipment, net | $ | 148,112 |  | $ | 158,021 |
The composition of goodwill and intangible assets follows (in thousands):
| July 31,
| 2017 | 2016
Goodwill |  |
Goodwill | $ | 1,537,097 |  | $ | 526,391 |
Accumulated amortization | (17,354 | ) | (17,354 | )
Goodwill, net | $ | 1,519,743 |  | $ | 509,037 |
Indefinite-lived intangible assets |  |
Trademarks | $ | 216,923 |  | $ | 67,705 |
Other | 41,275 |  | 37,548 |
Total gross indefinite-lived intangible assets | 258,198 |  | 105,253 |
Accumulated amortization | (24,713 | ) | (24,713 | )
Indefinite-lived intangible assets, net | 233,485 |  | 80,540 |
Amortizable intangible assets |  |
Trademarks | 39,071 |  | 37,635 |
Other | 49,804 |  | 41,889 |
Total gross amortizable intangible assets | 88,875 |  | 79,524 |
Accumulated amortization | (27,428 | ) | (20,057 | )
Amortizable intangible assets, net | 61,447 |  | 59,467 |
Total gross intangible assets | 347,073 |  | 184,777 |
Total accumulated amortization | (52,141 | ) | (44,770 | )
Total intangible assets, net | $ | 294,932 |  | $ | 140,007 |
During the year ended July 31, 2016, the Company recorded the disposal of gross amortizable intangible assets of $39.4 million from prior years, which had been fully amortized resulting in a corresponding reduction to accumulated amortization and no net effect to the net carrying value of intangible assets, net. Amortization expense for intangible assets subject to amortization for the years ended July 31, 2017, 2016 and 2015 totaled $8.3 million, $4.7 million and $5.1 million, respectively, and is estimated to be approximately $3.0 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, 2017 and 2016 are as follows (in thousands):
| Mountain | Lodging | Goodwill, net
Balance at July 31, 2015 | $ | 432,534 |  | $ | 67,899 |  | $ | 500,433 |
Acquisitions | 7,400 |  | — |  | 7,400 |
Effects of changes in foreign currency exchange rates | 1,204 |  | — |  | 1,204 |
Balance at July 31, 2016 | 441,138 |  | 67,899 |  | 509,037 |
Acquisition | 956,739 |  | — |  | 956,739 |
Effects of changes in foreign currency exchange rates | 53,967 |  | — |  | 53,967 |
Balance at July 31, 2017 | $ | 1,451,844 |  | $ | 67,899 |  | $ | 1,519,743 |
The composition of accounts payable and accrued liabilities follows (in thousands):
| July 31,
| 2017 | 2016
Trade payables | $ | 71,558 |  | $ | 72,658 |
Deferred revenue | 240,096 |  | 182,506 |
Accrued salaries, wages and deferred compensation | 44,869 |  | 43,086 |
Accrued benefits | 32,505 |  | 29,175 |
Deposits | 23,742 |  | 23,307 |
Other accruals | 54,899 |  | 46,756 |
Total accounts payable and accrued liabilities | $ | 467,669 |  | $ | 397,488 |
The composition of other long-term liabilities follows (in thousands):
| July 31,
| 2017 | 2016
Private club deferred initiation fee revenue | $ | 118,417 |  | $ | 121,750 |
Unfavorable lease obligation, net | 24,664 |  | 27,322 |
Other long-term liabilities | 158,655 |  | 121,096 |
Total other long-term liabilities | $ | 301,736 |  | $ | 270,168 |

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