INFORMATION CONCERNING GUARANTOR AND NON-GUARANTOR SUBSIDIARIES (Tables)

6 Months Ended

Jun. 30, 2014

Organization Consolidation And Presentation Of Financial Statements [Abstract]

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2014


	Parent								Non-
(in thousands)	Guarantor			Issuer			Guarantors		Guarantors			Eliminations			Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	6,627		$	—		$	1,721,670	$	319,665		$	—		$	2,047,962
Cash and cash equivalents - unrestricted		98			8,604			28		69,113			—			77,843
Cash and cash equivalents - restricted		—			—			—		13,901			—			13,901
Notes receivable		—			—			—		150,959			—			150,959
Trade receivables, less allowance		—			—			—		55,917			—			55,917
Deferred financing costs		—			24,498			—		—			—			24,498
Prepaid expenses and other assets		32			2,670			112,745		52,536			(114,514	)		53,469
Intercompany receivables, net		—			—			915,366		22,600			(937,966	)		—
Investments		2,124,370			2,767,162			526,644		446,253			(5,864,429	)		—

Total assets	$	2,131,127		$	2,802,934		$	3,276,453	$	1,130,944		$	(6,916,909	)	$	2,424,549

LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	229,461		$	1,050,000		$	—	$	661		$	—		$	1,280,122
Accounts payable and accrued liabilities		25			8,375			874		242,429			(114,797	)		136,906
Deferred income tax liabilities, net		6,504			(15	)		722		15,071			—			22,282
Deferred management rights proceeds		—			—			—		184,885			—			184,885
Dividends payable		28,575			—			—		—			—			28,575
Derivative liabilities		55,989			—			—		—			—			55,989
Other liabilities		—			—			76,643		43,649			283			120,575
Intercompany payables, net		881,147			56,819			—		—			(937,966	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—		—			—			—
Common stock		508			1			1		2,387			(2,389	)		508
Additional paid-in-capital		1,079,274			1,741,704			2,803,623		1,184,038			(5,729,365	)		1,079,274
Treasury stock		(8,002	)		—			—		—			—			(8,002	)
Accumulated deficit		(142,354	)		(53,950	)		394,590		(532,957	)		(132,675	)		(467,346	)
Accumulated other comprehensive loss		—			—			—		(9,219	)		—			(9,219	)

Total stockholders’ equity		929,426			1,687,755			3,198,214		644,249			(5,864,429	)		595,215

Total liabilities and stockholders’ equity	$	2,131,127		$	2,802,934		$	3,276,453	$	1,130,944		$	(6,916,909	)	$	2,424,549

Condensed Consolidating Statement of Operations and Comprehensive Income

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2014


	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	99,376		$	—		$	99,376
Food and beverage		—			—			—			103,357			—			103,357
Other hotel revenue		—			—			74,926			34,723			(79,452	)		30,197
Opry and Attractions		84			—			—			24,929			(30	)		24,983

Total revenues		84			—			74,926			262,385			(79,482	)		257,913
Operating expenses:
Rooms		—			—			—			27,910			—			27,910
Food and beverage		—			—			—			61,058			—			61,058
Other hotel expenses		—			—			11,167			131,478			(74,829	)		67,816
Management fees		—			—			—			3,952			—			3,952

Total hotel operating expenses		—			—			11,167			224,398			(74,829	)		160,736
Opry and Attractions		—			—			—			15,442			(31	)		15,411
Corporate		19			316			—			5,713			—			6,048
Corporate overhead allocation		2,579			—			2,043			—			(4,622	)		—
Depreciation and amortization		21			—			14,915			13,296			—			28,232

Total operating expenses		2,619			316			28,125			258,849			(79,482	)		210,427

Operating income (loss)		(2,535	)		(316	)		46,801			3,536			—			47,486

Interest expense		(5,437	)		(10,034	)		—			(1	)		—			(15,472	)
Interest income		—			—			—			3,038			—			3,038
Loss on extinguishment of debt		(2,148	)		—			—			—			—			(2,148	)
Other gains and (losses), net		(4,496	)		—			—			147			—			(4,349	)

Income (loss) before income taxes and discontinued operations		(14,616	)		(10,350	)		46,801			6,720			—			28,555
(Provision) benefit for income taxes		41			—			(515	)		(102	)		—			(576	)
Equity in subsidiaries’ earnings, net		42,566			—			—			—			(42,566	)		—

Income (loss) from continuing operations		27,991			(10,350	)		46,286			6,618			(42,566	)		27,979
Income from discontinued operations, net of taxes		—			—			—			12			—			12

Net income (loss)	$	27,991		$	(10,350	)	$	46,286		$	6,630		$	(42,566	)	$	27,991

Comprehensive income (loss)	$	27,944		$	(10,350	)	$	46,286		$	6,583		$	(42,519	)	$	27,944

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2013


	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	96,073		$	—		$	96,073
Food and beverage		—			—			—			99,309			—			99,309
Other hotel revenue		—			—			66,836			31,729			(71,116	)		27,449
Opry and Attractions		—			—			—			22,352			—			22,352

Total revenues		—			—			66,836			249,463			(71,116	)		245,183
Operating expenses:
Rooms		—			—			—			26,564			—			26,564
Food and beverage		—			—			—			60,406			—			60,406
Other hotel expenses		—			—			10,069			125,980			(67,466	)		68,583
Management fees		—			—			—			3,724			—			3,724

Total hotel operating expenses		—			—			10,069			216,674			(67,466	)		159,277
Opry and Attractions		—			—			—			14,629			—			14,629
Corporate		—			(181	)		2			6,815			—			6,636
Corporate overhead allocation		2,120			—			1,530			—			(3,650	)		—
REIT conversion costs		—			—			—			5,420			—			5,420
Casualty loss		—			—			—			17			—			17
Impairment and other charges		—			—			1,247			—			—			1,247
Depreciation and amortization		—			—			14,937			14,117			—			29,054

Total operating expenses		2,120			(181	)		27,785			257,672			(71,116	)		216,280

Operating income (loss)		(2,120	)		181			39,051			(8,209	)		—			28,903
Interest expense		(7,537	)		(9,875	)		—			(12	)		—			(17,424	)
Interest income		—			—			—			3,052			—			3,052
Other gains and (losses), net		—			—			—			53			—			53

Income (loss) before income taxes and discontinued operations		(9,657	)		(9,694	)		39,051			(5,116	)		—			14,584
(Provision) benefit for income taxes		—			(3	)		(922	)		2,709			—			1,784
Equity in subsidiaries’ earnings, net		26,036			—			—			—			(26,036	)		—

Income (loss) from continuing operations		16,379			(9,697	)		38,129			(2,407	)		(26,036	)		16,368
Income from discontinued operations, net of taxes		—			—			—			11			—			11

Net income (loss)	$	16,379		$	(9,697	)	$	38,129		$	(2,396	)	$	(26,036	)	$	16,379

Comprehensive income (loss)	$	24,789		$	(9,697	)	$	38,129		$	6,014		$	(34,446	)	$	24,789

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2014


	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	190,458		$	—		$	190,458
Food and beverage		—			—			—			213,428			—			213,428
Other hotel revenue		—			—			142,786			70,468			(152,007	)		61,247
Opry and Attractions		84			—			—			39,178			(31	)		39,231

Total revenues		84			—			142,786			513,532			(152,038	)		504,364
Operating expenses:
Rooms		—			—			—			56,460			—			56,460
Food and beverage		—			—			—			124,240			—			124,240
Other hotel expenses		—			—			22,868			258,623			(142,645	)		138,846
Management fees		—			—			—			7,863			—			7,863

Total hotel operating expenses		—			—			22,868			447,186			(142,645	)		327,409
Opry and Attractions		—			—			—			27,713			(31	)		27,682
Corporate		19			620			1			12,115			—			12,755
Corporate overhead allocation		5,399			—			3,963			—			(9,362	)		—
Depreciation and amortization		21			—			29,817			26,397			—			56,235

Total operating expenses		5,439			620			56,649			513,411			(152,038	)		424,081

Operating income (loss)		(5,355	)		(620	)		86,137			121			—			80,283

Interest expense		(11,896	)		(19,237	)		—			(9	)		—			(31,142	)
Interest income		—			—			—			6,069			—			6,069
Loss on extinguishment of debt		(2,148	)		—			—			—			—			(2,148	)
Other gains and (losses), net		(4,496	)		—			—			147			—			(4,349	)

Income (loss) before income taxes and discontinued operations		(23,895	)		(19,857	)		86,137			6,328			—			48,713
(Provision) benefit for income taxes		—			—			(911	)		819			—			(92	)
Equity in subsidiaries’ earnings, net		72,539			—			—			—			(72,539	)		—

Income (loss) from continuing operations		48,644			(19,857	)		85,226			7,147			(72,539	)		48,621
Income from discontinued operations, net of taxes		—			—			—			23			—			23

Net income (loss)	$	48,644		$	(19,857	)	$	85,226		$	7,170		$	(72,539	)	$	48,644

Comprehensive income (loss)	$	48,544		$	(19,857	)	$	85,226		$	7,070		$	(72,439	)	$	48,544

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2013


(in thousands)	Parent Guarantor			Issuer			Guarantors		Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—	$	181,582		$	—		$	181,582
Food and beverage		—			—			—		197,497			—			197,497
Other hotel revenue		—			—			136,515		62,317			(145,499	)		53,333
Opry and Attractions		—			—			—		34,884			—			34,884

Total revenues		—			—			136,515		476,280			(145,499	)		467,296
Operating expenses:
Rooms		—			—			—		51,651			—			51,651
Food and beverage		—			—			—		121,654			—			121,654
Other hotel expenses		—			—			22,500		253,425			(137,774	)		138,151
Management fees		—			—			—		7,193			—			7,193

Total hotel operating expenses		—			—			22,500		433,923			(137,774	)		318,649
Opry and Attractions		—			—			—		25,915			—			25,915
Corporate		—			666			2		12,634			—			13,302
Corporate overhead allocation		2,120			—			5,605		—			(7,725	)		—
REIT conversion costs		—			—			—		20,412			—			20,412
Casualty loss		—			—			—		49			—			49
Impairment and other charges		—			—			1,247		—			—			1,247
Depreciation and amortization		—			—			29,887		31,176			—			61,063

Total operating expenses		2,120			666			59,241		524,109			(145,499	)		440,637

Operating income (loss)		(2,120	)		(666	)		77,274		(47,829	)		—			26,659
Interest expense		(15,906	)		(14,813	)		—		(28	)		—			(30,747	)
Interest income		—			—			—		6,103			—			6,103
Other gains and (losses), net		—			—			—		47			—			47

Income (loss) before income taxes and discontinued operations		(18,026	)		(15,479	)		77,274		(41,707	)		—			2,062
(Provision) benefit for income taxes		(222	)		(2,031	)		142,217		(71,888	)		—			68,076
Equity in subsidiaries’ earnings, net		88,407			—			—		—			(88,407	)		—

Income (loss) from continuing operations		70,159			(17,510	)		219,491		(113,595	)		(88,407	)		70,138
Income from discontinued operations, net of taxes		—			—			—		21			—			21

Net income (loss)	$	70,159		$	(17,510	)	$	219,491	$	(113,574	)	$	(88,407	)	$	70,159

Comprehensive income (loss)	$	79,731		$	(17,510	)	$	219,491	$	(104,002	)	$	(97,979	)	$	79,731

Condensed Consolidating Statement of Cash Flows

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 2014


(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated
Net cash provided by (used in) continuing operating activities	$	235,131		$	(174,452	)	$	35		$	31,200		$	—	$	91,914
Net cash used in discontinued operating activities		—			—			—			(205	)		—		(205	)

Net cash provided by (used in) operating activities		235,131			(174,452	)		35			30,995			—		91,709

Purchases of property and equipment		(6,649	)		—			(7	)		(29,117	)		—		(35,773	)
Increase in restricted cash and cash equivalents		—			—			—			6,268			—		6,268
Other investing activities		—			—			—			398			—		398

Net cash used in investing activities - continuing operations		(6,649	)		—			(7	)		(22,451	)		—		(29,107	)
Net cash used in investing activities - discontinued operations		—			—			—			—			—		—

Net cash used in investing activities		(6,649	)		—			(7	)		(22,451	)		—		(29,107	)

Net borrowings under credit facility		—			190,500			—			—			—		190,500
Repurchase and conversion of convertible notes		(126,541	)		—			—			—			—		(126,541	)
Repurchase of common stock warrants		(50,775	)		—			—			—			—		(50,775	)
Deferred financing costs paid		—			(8,158	)		—			—			—		(8,158	)
Payment of dividend		(53,389	)		—			—			—			—		(53,389	)
Proceeds from exercise of stock option and purchase plans		2,309			—			—			—			—		2,309
Excess tax benefit from stock-based compensation		12			—			—			—			—		12
Other financing activities, net		—			—			—			(296	)		—		(296	)

Net cash provided by (used in) financing activities - continuing operations		(228,384	)		182,342			—			(296	)		—		(46,338	)
Net cash used in financing activities - discontinued operations		—			—			—			—			—		—

Net cash provided by (used in) financing activities		(228,384	)		182,342			—			(296	)		—		(46,338	)

Net change in cash and cash equivalents		98			7,890			28			8,248			—		16,264
Cash and cash equivalents at beginning of period		—			714			—			60,865			—		61,579

Cash and cash equivalents at end of period	$	98		$	8,604		$	28		$	69,113		$	—	$	77,843

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Six Months Ended June 30, 2013


(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated
Net cash provided by (used in) continuing operating activities	$	272,882		$	(251,957	)	$	1,316		$	(31,228	)	$	—	$	(8,987	)
Net cash provided by discontinued operating activities		—			—			—			79			—		79

Net cash provided by (used in) operating activities		272,882			(251,957	)		1,316			(31,149	)		—		(8,908	)

Purchases of property and equipment		—			—			(721	)		(14,460	)		—		(15,181	)
Increase in restricted cash and cash equivalents		—			—			—			(8,273	)		—		(8,273	)
Other investing activities		—			—			—			226			—		226

Net cash used in investing activities - continuing operations		—			—			(721	)		(22,507	)		—		(23,228	)
Net cash used in investing activities - discontinued operations		—			—			—			—			—		—

Net cash used in investing activities		—			—			(721	)		(22,507	)		—		(23,228	)

Net repayments under credit facility		—			(82,000	)		—			—			—		(82,000	)
Issuance of senior notes		—			350,000			—			—			—		350,000
Early redemption of senior notes		(152,180	)		—			—			—			—		(152,180	)
Deferred financing costs paid		—			(15,395	)		—			—			—		(15,395	)
Repurchase of Company stock for retirement		(100,028	)		—			—			—			—		(100,028	)
Payment of dividend		(25,823	)		—			—			—			—		(25,823	)
Proceeds from exercise of stock option and purchase plans		5,145			—			—			—			—		5,145
Excess tax benefit from stock-based compensation		4			—			—			—			—		4
Other financing activities, net		—			—			—			(357	)		—		(357	)

Net cash provided by (used in) financing activities - continuing operations		(272,882	)		252,605			—			(357	)		—		(20,634	)
Net cash used in financing activities - discontinued operations		—			—			—			—			—		—

Net cash provided by (used in) financing activities		(272,882	)		252,605			—			(357	)		—		(20,634	)

Net change in cash and cash equivalents		—			648			595			(54,013	)		—		(52,770	)
Cash and cash equivalents at beginning of period		—			—			(595	)		97,765			—		97,170

Cash and cash equivalents at end of period	$	—		$	648		$	—		$	43,752		$	—	$	44,400