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Supplementary Balance Sheet Information | 12 Months Ended
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Jul. 31, 2022
Balance Sheet Related Disclosures [Abstract] |
Supplementary Balance Sheet Information | Supplementary Balance Sheet Information The composition of property, plant and equipment, including finance lease assets, follows (in thousands):
| July 31,
| 2022 | 2021
Land and land improvements | $ | 763,432 |  | $ | 756,517 |
Buildings and building improvements | 1,545,571 |  | 1,496,402 |
Machinery and equipment | 1,505,236 |  | 1,417,705 |
Furniture and fixtures | 307,867 |  | 308,432 |
Software | 138,058 |  | 122,778 |
Vehicles | 81,927 |  | 80,328 |
Construction in progress | 127,282 |  | 67,710 |
Gross property, plant and equipment | 4,469,373 |  | 4,249,872 |
Accumulated depreciation | (2,351,321) |  | (2,181,996) |
Property, plant and equipment, net | $ | 2,118,052 |  | $ | 2,067,876 |
Depreciation expense, which included depreciation of assets recorded under finance leases, for the years ended July 31, 2022, 2021 and 2020 totaled $247.2 million, $247.2 million and $243.1 million, respectively. The following table summarizes the composition of property, plant and equipment recorded under finance leases as of July 31, 2022 and 2021 (in thousands):
| July 31,
| 2022 | 2021
Land | $ | 31,818 |  | $ | 31,818 |
Land improvements | 49,228 |  | 49,228 |
Buildings and building improvements | 42,160 |  | 42,160 |
Machinery and equipment | 60,384 |  | 60,384 |
Gross property, plant and equipment | 183,590 |  | 183,590 |
Accumulated depreciation | (84,556) |  | (75,545) |
Property, plant and equipment, net | $ | 99,034 |  | $ | 108,045 |
The composition of goodwill and intangible assets follows (in thousands):
| July 31,
| 2022 | 2021
Goodwill |  |
Goodwill | $ | 1,797,970 |  | $ | 1,824,089 |
Accumulated impairments | (25,688) |  | (25,688) |
Accumulated amortization | (17,354) |  | (17,354) |
Goodwill, net | $ | 1,754,928 |  | $ | 1,781,047 |
Indefinite-lived intangible assets |  |
Trademarks | $ | 237,483 |  | $ | 239,786 |
Other | 41,400 |  | 41,561 |
Total gross indefinite-lived intangible assets | 278,883 |  | 281,347 |
Accumulated amortization | (24,713) |  | (24,713) |
Indefinite-lived intangible assets, net | $ | 254,170 |  | $ | 256,634 |
Amortizable intangible assets |  |
Trademarks | $ | 38,008 |  | $ | 38,008 |
Other | 71,767 |  | 69,397 |
Total gross amortizable intangible assets | 109,775 |  | 107,405 |
Accumulated amortization | (49,887) |  | (44,929) |
Amortizable intangible assets, net | 59,888 |  | 62,476 |
Total gross intangible assets | 388,658 |  | 388,752 |
Total accumulated amortization | (74,600) |  | (69,642) |
Total intangible assets, net | $ | 314,058 |  | $ | 319,110 |
Amortization expense for intangible assets subject to amortization for the years ended July 31, 2022, 2021 and 2020 totaled $5.2 million, $5.4 million and $6.5 million, respectively, and is estimated to be approximately $3.8 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, 2022 and 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 | 72,027 |  | — |  | 72,027 |
Balance at July 31, 2021 | 1,738,836 |  | 42,211 |  | 1,781,047 |
Acquisition (including measurement period adjustments) | 2,196 |  | 2,795 |  | 4,991 |
Effects of changes in foreign currency exchange rates | (31,110) |  | — |  | (31,110) |
Balance at July 31, 2022 | $ | 1,709,922 |  | $ | 45,006 |  | $ | 1,754,928 |
The composition of accounts payable and accrued liabilities follows (in thousands):
| July 31,
| 2022 | 2021
Trade payables | $ | 151,263 |  | $ | 98,261 |
Deferred revenue | 511,306 |  | 456,457 |
Accrued salaries, wages and deferred compensation | 64,570 |  | 54,286 |
Accrued benefits | 45,202 |  | 47,368 |
Deposits | 37,731 |  | 35,263 |
Operating lease liabilities | 34,218 |  | 34,668 |
Other accruals | 98,540 |  | 89,169 |
Total accounts payable and accrued liabilities | $ | 942,830 |  | $ | 815,472 |

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