XML 31 R15.htm IDEA: XBRL DOCUMENT v3.25.2
Supplementary Balance Sheet Information
 12 Months Ended
Jul. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Supplementary Balance Sheet Information Supplementary Balance Sheet Information
The composition of other current assets follows (in thousands):
 July 31,
  
20252024
Prepaid expenses$58,089 $51,519 
Other35,734 18,639 
Other current assets$93,823 $70,158 
The composition of property, plant and equipment, including finance lease assets, follows (in thousands):
 July 31,
  
20252024
Land and land improvements$804,667 $804,410 
Buildings and building improvements1,712,138 1,684,208 
Machinery and equipment2,117,865 1,987,458 
Furniture and fixtures349,921 318,974 
Software189,982 164,919 
Vehicles96,504 92,420 
Construction in progress114,357 106,016 
Gross property, plant and equipment5,385,434 5,158,405 
Accumulated depreciation(3,010,780)(2,739,875)
Property, plant and equipment, net$2,374,654 $2,418,530 
Depreciation expense, which included depreciation of assets recorded under finance leases, for the years ended July 31, 2025, 2024 and 2023 totaled $292.2 million, $274.4 million and $264.1 million, respectively.
The following table summarizes the composition of property, plant and equipment recorded under finance leases as of July 31, 2025 and 2024 (in thousands):
July 31,
20252024
Land$31,818 $31,818 
Land improvements49,228 49,228 
Buildings and building improvements70,209 70,310 
Machinery and equipment85,200 85,416 
Gross property, plant and equipment
236,455 236,772 
Accumulated depreciation(116,722)(107,740)
Property, plant and equipment, net
$119,733 $129,032 
The composition of goodwill and intangible assets follows (in thousands):
 July 31,
  
20252024
Goodwill
Goodwill$1,718,257 $1,721,017 
Accumulated impairments(25,688)(25,688)
Accumulated amortization(17,354)(17,354)
Goodwill, net$1,675,215 $1,677,975 
Indefinite-lived intangible assets
Trademarks$236,002 $235,858 
Other41,072 41,081 
Total gross indefinite-lived intangible assets277,074 276,939 
Accumulated amortization(24,713)(24,751)
Indefinite-lived intangible assets, net$252,361 $252,188 
Amortizable intangible assets
Trademarks$38,008 $38,008 
Other71,120 71,198 
Total gross amortizable intangible assets109,128 109,206 
Accumulated amortization(62,992)(58,859)
Amortizable intangible assets, net
46,136 50,347 
Total gross intangible assets386,202 386,145 
Total accumulated amortization(87,705)(83,610)
Total intangible assets, net
$298,497 $302,535 
Amortization expense for intangible assets subject to amortization for the years ended July 31, 2025, 2024 and 2023 totaled $4.2 million, $4.7 million and $5.1 million, respectively, and is estimated to be approximately $2.0 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, 2025 and 2024 are as follows (in thousands):
Mountain Lodging Goodwill, net
Balance at July 31, 2023$1,675,338 $45,006 $1,720,344 
Acquisition (including measurement period adjustments)2,796 — 2,796 
Effects of changes in foreign currency exchange rates
(45,165)— (45,165)
Balance at July 31, 20241,632,969 45,006 1,677,975 
Acquisition25 — 25 
Effects of changes in foreign currency exchange rates
(2,785)— (2,785)
Balance at July 31, 2025$1,630,209 $45,006 $1,675,215 
The composition of accounts payable and accrued liabilities follows (in thousands):
 July 31,
  
20252024
Trade payables$139,976 $141,246 
Deferred revenue602,117 575,766 
Accrued salaries, wages and deferred compensation59,779 43,269 
Accrued benefits64,869 60,940 
Deposits42,284 44,500 
Operating lease liabilities34,883 32,611 
Other accruals112,757 102,467 
Total accounts payable and accrued liabilities$1,056,665 $1,000,798