Fair Value Measurements (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Jul. 31, 2022 |
Jul. 31, 2021 |
Jul. 31, 2020 |
|
Contingent Consideration, Key Assumptions for Valuation | The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated subsequent performance, escalated by an assumed long-term growth factor and discounted to net present value. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included a discount rate of 11.1%, volatility of 17.0% and future period Park City EBITDA, which are unobservable inputs and thus are considered Level 3 inputs. | ||
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description | The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated subsequent year performance would result in a change in the estimated fair value within the range of approximately $3.0 million to $6.1 million. | ||
Interest Rate Cash Flow Hedge Asset at Fair Value | $ 12,301 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | 12,300 | $ 12,942 | |
Liabilities, Fair Value Disclosure | 42,400 | 29,600 | $ 17,800 |
Payments for Rent | (7,480) | (2,602) | |
Change in Fair Value of Contingent Consideration | 20,280 | 14,402 | |
Interest Rate Swap, Notional Amount | 400,000 | 400,000 | $ 400,000 |
Level 2 [Member] | |||
Interest Rate Cash Flow Hedge Asset at Fair Value | 12,301 | ||
Interest Rate Cash Flow Hedge Liability at Fair Value | 12,942 | ||
Level 3 [Member] | |||
Liabilities, Fair Value Disclosure | $ 42,400 | 29,600 | |
Canyons [Member] | |||
Business Combination, Contingent Consideration Arrangements, Description | 42% of the amount by which EBITDA for the Park City resort operations, as calculated under the Park City Lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the Park City Lease by the Company. | ||
Money Market Funds [Member] | |||
Cash and Cash Equivalents, Fair Value Disclosure | $ 505,901 | 253,782 | |
Money Market Funds [Member] | Level 1 [Member] | |||
Cash and Cash Equivalents, Fair Value Disclosure | 505,901 | 253,782 | |
Commercial Paper [Member] | |||
Cash and Cash Equivalents, Fair Value Disclosure | 2,401 | 2,401 | |
Commercial Paper [Member] | Level 2 [Member] | |||
Cash and Cash Equivalents, Fair Value Disclosure | 2,401 | 2,401 | |
Certificates of Deposit [Member] | |||
Cash and Cash Equivalents, Fair Value Disclosure | 9,473 | 259,945 | |
Certificates of Deposit [Member] | Level 2 [Member] | |||
Cash and Cash Equivalents, Fair Value Disclosure | $ 9,473 | $ 259,945 |