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Supplementary Balance Sheet Information | 9 Months Ended
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Apr. 30, 2021
Balance Sheet Related Disclosures [Abstract] |
Supplementary Balance Sheet Information | Supplementary Balance Sheet Information The composition of property, plant and equipment follows (in thousands):
|  | April 30, 2021 |  | July 31, 2020 |  | April 30, 2020
Land and land improvements |  | $ | 761,367 |  |  | $ | 750,714 |  |  | $ | 745,275 |
Buildings and building improvements |  | 1,502,828 |  |  | 1,475,661 |  |  | 1,466,113 |
Machinery and equipment |  | 1,432,137 |  |  | 1,361,178 |  |  | 1,351,491 |
Furniture and fixtures |  | 330,530 |  |  | 308,267 |  |  | 335,827 |
Software |  | 122,586 |  |  | 104,223 |  |  | 130,354 |
Vehicles |  | 82,375 |  |  | 80,510 |  |  | 81,408 |
Construction in progress |  | 46,703 |  |  | 81,967 |  |  | 57,462 |
Gross property, plant and equipment |  | 4,278,526 |  |  | 4,162,520 |  |  | 4,167,930 |
Accumulated depreciation |  | (2,161,731) |  |  | (1,969,841) |  |  | (1,966,127) |
Property, plant and equipment, net |  | $ | 2,116,795 |  |  | $ | 2,192,679 |  |  | $ | 2,201,803 |
The composition of accounts payable and accrued liabilities follows (in thousands):
|  | April 30, 2021 |  | July 31, 2020 |  | April 30, 2020
Trade payables |  | $ | 64,412 |  |  | $ | 59,692 |  |  | $ | 62,101 |
Deferred revenue |  | 238,075 |  |  | 256,402 |  |  | 219,395 |
Accrued salaries, wages and deferred compensation |  | 69,821 |  |  | 25,588 |  |  | 16,184 |
Accrued benefits |  | 49,958 |  |  | 43,704 |  |  | 44,536 |
Deposits |  | 35,263 |  |  | 20,070 |  |  | 27,053 |
Operating lease liability |  | 37,687 |  |  | 36,604 |  |  | 34,996 |
Other liabilities |  | 72,048 |  |  | 57,048 |  |  | 45,009 |
Total accounts payable and accrued liabilities |  | $ | 567,264 |  |  | $ | 499,108 |  |  | $ | 449,274 |
The composition of other long-term liabilities follows (in thousands):
|  | April 30, 2021 |  | July 31, 2020 |  | April 30, 2020
Private club deferred initiation fee revenue |  | $ | 104,747 |  |  | $ | 105,108 |  |  | $ | 107,500 |
Other long-term liabilities |  | 147,704 |  |  | 165,137 |  |  | 143,964 |
Total other long-term liabilities |  | $ | 252,451 |  |  | $ | 270,245 |  |  | $ | 251,464 |
The changes in the net carrying amount of goodwill allocated between the Company’s segments for the nine months ended April 30, 2021 are as follows (in thousands):
| Mountain |  | Lodging |  | Goodwill, net
Balance at July 31, 2020 | 1,666,809 |  |  | 42,211 |  |  | 1,709,020 |
Effects of changes in foreign currency exchange rates | 92,276 |  |  | — |  |  | 92,276 |
Balance at April 30, 2021 | $ | 1,759,085 |  |  | $ | 42,211 |  |  | $ | 1,801,296 |
Asset Impairments The Company recorded asset impairments related to its Colorado resort ground transportation company during the three and nine months ended April 30, 2020 of $28.4 million, with corresponding reductions to goodwill, net of $25.7 million and intangible assets, net and property, plant and equipment, net of $2.7 million. The Company’s non-financial assets, such as property, plant and equipment, goodwill and intangible assets, are adjusted when an asset impairment is recognized. These asset impairments encompassed various estimates and assumptions about fair value, which were based predominately on significant unobservable inputs. As a result of the COVID-19 pandemic and the impact it has had on the Company’s operations during the three and nine months ended April 30, 2020, and the expectation at that time of the continuing impact of the pandemic on future operations, the Company determined that the estimated fair value of its Colorado resort ground transportation company reporting unit within its Lodging segment no longer exceeded its carrying value. Additionally, the Company determined that certain long-lived assets of its Colorado resort ground transportation company were not recoverable. As a result, the Company recognized impairments of goodwill and long-lived assets of approximately $25.7 million and $2.7 million, respectively, which were recorded within asset impairments on the Company’s Consolidated Condensed Statements of Operations during the three and nine months ended April 30, 2020. Corresponding reductions were made to goodwill, net of $25.7 million and intangible assets, net and property, plant and equipment, net of $2.7 million. The Company estimated the fair value of its Colorado resort ground transportation company reporting unit based on an analysis of the present value of future cash flows (an income approach). The significant estimates used in the discounted cash flow model included the Company’s weighted average cost of capital for the reporting unit, projected cash flows and the long-term rate of growth, all of which are significant unobservable (Level 3) inputs. The Company’s assumptions were based on the actual historical performance of the reporting unit, taking into account the recent weakening of operating results and the expected continuation of operating results for transportation services. As a result of this impairment, the Company’s Colorado ground transportation company had no remaining goodwill recorded as of April 30, 2020.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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