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Fair Value Measurements (Tables) | 6 Months Ended
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Jan. 31, 2020
Fair Value Disclosures [Abstract] |
Summary Of Cash Equivalents Measured At Fair Value | The table below summarizes the Company’s cash equivalents, other current assets, Interest Rate Swaps and Contingent Consideration measured at estimated fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands).
|  | Estimated Fair Value Measurement as of January 31, 2020
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Money Market |  | $ | 3,052 |  |  | $ | 3,052 |  |  | $ | — |  |  | $ | — |
Commercial Paper |  | $ | 2,401 |  |  | $ | — |  |  | $ | 2,401 |  |  | $ | — |
Certificates of Deposit |  | $ | 7,717 |  |  | $ | — |  |  | $ | 7,717 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Interest Rate Swaps |  | $ | 4,563 |  |  | $ | — |  |  | $ | 4,563 |  |  | $ | — |
Contingent Consideration |  | $ | 23,500 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,500 |
|  | Estimated Fair Value Measurement as of July 31, 2019
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Money Market |  | $ | 3,043 |  |  | $ | 3,043 |  |  | $ | — |  |  | $ | — |
Commercial Paper |  | $ | 2,401 |  |  | $ | — |  |  | $ | 2,401 |  |  | $ | — |
Certificates of Deposit |  | $ | 7,871 |  |  | $ | — |  |  | $ | 7,871 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Contingent Consideration |  | $ | 27,200 |  |  | $ | — |  |  | $ | — |  |  | $ | 27,200 |
|  | Estimated Fair Value Measurement as of January 31, 2019
Description |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |
Money Market |  | $ | 3,031 |  |  | $ | 3,031 |  |  | $ | — |  |  | $ | — |
Commercial Paper |  | $ | 2,401 |  |  | $ | — |  |  | $ | 2,401 |  |  | $ | — |
Certificates of Deposit |  | $ | 6,774 |  |  | $ | — |  |  | $ | 6,774 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Contingent Consideration |  | $ | 23,733 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,733 |
The Company’s cash equivalents, other current assets and Interest Rate Swaps are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. During the six months ended January 31, 2020, the Company entered into the Interest Rate Swaps to hedge the LIBOR-based variable interest rate component of underlying cash flows of $400.0 million in principal amount of its Vail Holdings Credit Agreement. Settlements or payments resulting from the Interest Rate Swaps are recognized in interest expense, net on the Company’s Consolidated Condensed Statements of Operations, and changes in the estimated fair value are recognized in change in estimated fair value of hedging instruments on the Company’s Consolidated Condensed Statements of Comprehensive Income. The estimated fair value of the Interest Rate Swaps are included within other long-term liabilities on the Company’s Consolidated Condensed Balance Sheet as of January 31, 2020. The changes in Contingent Consideration during the six months ended January 31, 2020 and 2019 were as follows (in thousands):
Balance as of July 31, 2019 and 2018, respectively |  | $ | 27,200 |  |  | $ | 21,900 |
Payments |  | (6,436 | ) |  | (67 | )
Change in estimated fair value |  | 2,736 |  |  | 1,900 |
Balance as of January 31, 2020 and 2019, respectively |  | $ | 23,500 |  |  | $ | 23,733 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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