Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors		Non- Guarantors			Eliminations			Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	6,566		$	—		$	1,677,210	$	339,949		$	—		$	2,023,725
Cash and cash equivalents - unrestricted		117			712			36		52,134			—			52,999
Cash and cash equivalents - restricted		—			—			—		21,004			—			21,004
Notes receivable		—			—			—		149,233			—			149,233
Trade receivables, less allowance		—			—			—		70,164			—			70,164
Deferred financing costs		—			20,250			—		—			—			20,250
Prepaid expenses and other assets		6,962			8			119,246		56,484			(121,033	)		61,667
Intercompany receivables, net		—			—			1,097,047		—			(1,097,047	)		—
Investments		975,675			2,795,064			532,144		697,380			(5,000,263	)		—
Total assets	$	989,320		$	2,816,034		$	3,425,683	$	1,386,348		$	(6,218,343	)	$	2,399,042
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—		$	1,510,500		$	—	$	898		$	—		$	1,511,398
Accounts payable and accrued liabilities		73			9,341			205		254,215			(121,316	)		142,518
Deferred income tax liabilities, net		7,157			—			544		6,380			—			14,081
Deferred management rights proceeds		—			—			—		182,692			—			182,692
Dividends payable		33,800			—			—		—			—			33,800
Other liabilities		—			—			80,723		61,875			283			142,881
Intercompany payables, net		576,618			290,724			—		229,705			(1,097,047	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—		—			—			—
Common stock		513			1			1		2,387			(2,389	)		513
Additional paid-in-capital		881,500			1,099,474			2,812,431		1,213,325			(5,125,230	)		881,500
Treasury stock		(8,002	)		—			—		—			—			(8,002	)
Accumulated deficit		(476,067	)		(94,006	)		531,779		(538,857	)		101,084			(476,067	)
Accumulated other comprehensive loss		(26,272	)		—			—		(26,272	)		26,272			(26,272	)
Total stockholders’ equity		371,672			1,005,469			3,344,211		650,583			(5,000,263	)		371,672
Total liabilities and stockholders’ equity	$	989,320		$	2,816,034		$	3,425,683	$	1,386,348		$	(6,218,343	)	$	2,399,042

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2014

(in thousands)	Parent Guarantor			Issuer			Guarantors		Non- Guarantors			Eliminations			Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	6,574		$	—		$	1,691,996	$	337,691		$	—		$	2,036,261
Cash and cash equivalents - unrestricted		392			1,001			36		74,979			—			76,408
Cash and cash equivalents - restricted		—			—			—		17,410			—			17,410
Notes receivable		—			—			—		149,612			—			149,612
Trade receivables, less allowance		—			—			—		45,188			—			45,188
Deferred financing costs		—			21,646			—		—			—			21,646
Prepaid expenses and other assets		16,908			33			75,335		50,713			(76,368	)		66,621
Intercompany receivables, net		—			219,772			1,073,805		—			(1,293,577	)		—
Investments		1,587,425			2,767,163			526,645		695,896			(5,577,129	)		—
Total assets	$	1,611,299		$	3,009,615		$	3,367,817	$	1,371,489		$	(6,947,074	)	$	2,413,146
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—		$	1,340,500		$	—	$	1,055		$	—		$	1,341,555
Accounts payable and accrued liabilities		36			7,248			216		235,999			(76,651	)		166,848
Deferred income tax liabilities, net		7,258			—			616		6,410			—			14,284
Deferred management rights proceeds		—			—			—		183,423			—			183,423
Dividends payable		29,133			—			—		—			—			29,133
Derivative liabilities		134,477			—			—		—			—			134,477
Other liabilities		—			—			79,382		62,354			283			142,019
Intercompany payables, net		1,038,988			—			—		254,589			(1,293,577	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—		—			—			—
Common stock		510			1			1		2,387			(2,389	)		510
Additional paid-in-capital		882,193			1,741,705			2,803,719		1,183,941			(5,729,365	)		882,193
Treasury stock		(8,002	)		—			—		—			—			(8,002	)
Accumulated deficit		(446,963	)		(79,839	)		483,883		(532,338	)		128,294			(446,963	)
Accumulated other comprehensive loss		(26,331	)		—			—		(26,331	)		26,331			(26,331	)
Total stockholders’ equity		401,407			1,661,867			3,287,603		627,659			(5,577,129	)		401,407
Total liabilities and stockholders’ equity	$	1,611,299		$	3,009,615		$	3,367,817	$	1,371,489		$	(6,947,074	)	$	2,413,146

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 March 31, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	94,721		$	—		$	94,721
Food and beverage		—			—			—			118,331			—			118,331
Other hotel revenue		—			—			75,560			27,668			(79,826	)		23,402
Entertainment (previously Opry and Attractions)		57			—			—			16,707			(70	)		16,694
Total revenues		57			—			75,560			257,427			(79,896	)		253,148
Operating expenses:
Rooms		—			—			—			26,067			—			26,067
Food and beverage		—			—			—			65,075			—			65,075
Other hotel expenses		—			—			10,968			134,779			(75,451	)		70,296
Management fees		—			—			—			3,512			—			3,512
Total hotel operating expenses		—			—			10,968			229,433			(75,451	)		164,950
Entertainment (previously Opry and Attractions)		—			—			—			13,233			(71	)		13,162
Corporate		52			316			—			6,726			—			7,094
Corporate overhead allocation		2,465			—			1,909			—			(4,374	)		—
Preopening costs		—			—			—			592			—			592
Impairment and other charges		—			—			—			2,890			—			2,890
Depreciation and amortization		32			—			14,786			13,752			—			28,570
Total operating expenses		2,549			316			27,663			266,626			(79,896	)		217,258
Operating income (loss)		(2,492	)		(316	)		47,897			(9,199	)		—			35,890
Interest expense		—			(13,851	)		—			38			—			(13,813	)
Interest income		—			—			—			3,008			—			3,008
Other gains and (losses), net		(20,186	)		—			—			(46	)		—			(20,232	)
Income (loss) before income taxes		(22,678	)		(14,167	)		47,897			(6,199	)		—			4,853
(Provision) benefit for income taxes		—			—			(1	)		(320	)		—			(321	)
Equity in subsidiaries’ earnings, net		27,210			—			—			—			(27,210	)		—
Net income (loss)	$	4,532		$	(14,167	)	$	47,896		$	(6,519	)	$	(27,210	)	$	4,532
Comprehensive income (loss)	$	4,591		$	(14,167	)	$	47,896		$	(6,460	)	$	(27,269	)	$	4,591

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2014

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	91,082		$	—		$	91,082
Food and beverage		—			—			—			117,244			—			117,244
Other hotel revenue		—			—			67,860			28,572			(72,555	)		23,877
Entertainment (previously Opry and Attractions)		—			—			—			14,248			—			14,248
Total revenues		—			—			67,860			251,146			(72,555	)		246,451
Operating expenses:
Rooms		—			—			—			27,478			—			27,478
Food and beverage		—			—			—			63,182			—			63,182
Other hotel expenses		—			—			11,701			128,218			(67,817	)		72,102
Management fees		—			—			—			3,911			—			3,911
Total hotel operating expenses		—			—			11,701			222,789			(67,817	)		166,673
Entertainment (previously Opry and Attractions)		—			—			—			12,271			—			12,271
Corporate		—			305			—			6,402			—			6,707
Corporate overhead allocation		2,818			—			1,920			—			(4,738	)		—
Depreciation and amortization		—			—			14,902			13,101			—			28,003
Total operating expenses		2,818			305			28,523			254,563			(72,555	)		213,654
Operating income (loss)		(2,818	)		(305	)		39,337			(3,417	)		—			32,797
Interest expense		(6,459	)		(9,203	)		—			(8	)		—			(15,670	)
Interest income		—			—			—			3,031			—			3,031
Other gains and (losses), net		—			—			—			11			—			11
Income (loss) before income taxes		(9,277	)		(9,508	)		39,337			(383	)		—			20,169
(Provision) benefit for income taxes		(40	)		—			(396	)		920			—			484
Equity in subsidiaries’ earnings, net		29,970			—			—			—			(29,970	)		—
Net income (loss)	$	20,653		$	(9,508	)	$	38,941		$	537		$	(29,970	)	$	20,653
Comprehensive income (loss)	$	20,600		$	(9,508	)	$	38,941		$	484		$	(29,917	)	$	20,600

Condensed Consolidating Statement of Cash Flows

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	172,169		$	(170,289	)	$	2		$	1,990		$	—	$	3,872
Purchases of property and equipment		(22	)		—			(2	)		(18,631	)		—		(18,655	)
Proceeds from sale of Peterson LOI		10,000			—			—			—			—		10,000
Increase in restricted cash and cash equivalents		—			—			—			(3,594	)		—		(3,594	)
Other investing activities		—			—			—			(2,453	)		—		(2,453	)
Net cash provided by (used in) investing activities		9,978			—			(2	)		(24,678	)		—		(14,702	)
Net borrowings under credit facility		—			171,000			—			—			—		171,000
Repayments under term loan B		—			(1,000	)		—			—			—		(1,000	)
Repurchase of common stock warrants		(154,681	)		—			—			—			—		(154,681	)
Payment of dividend		(28,756	)		—			—			—			—		(28,756	)
Proceeds from exercise of stock option and purchase plans		1,015			—			—			—			—		1,015
Other financing activities, net		—			—			—			(157	)		—		(157	)
Net cash provided by (used in) financing activities		(182,422	)		170,000			—			(157	)		—		(12,579	)
Net change in cash and cash equivalents		(275	)		(289	)		—			(22,845	)		—		(23,409	)
Cash and cash equivalents at beginning of period		392			1,001			36			74,979			—		76,408
Cash and cash equivalents at end of period	$	117		$	712		$	36		$	52,134		$	—	$	52,999

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2014

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	24,395		$	8,930		$	3		$	(3,497	)	$	—	$	29,831
Purchases of property and equipment		(24	)		—			(3	)		(17,457	)		—		(17,484	)
Decrease in restricted cash and cash equivalents		—			—			—			9,509			—		9,509
Net cash used in investing activities		(24	)		—			(3	)		(7,948	)		—		(7,975	)
Net repayments under credit facility		—			(3,500	)		—			—			—		(3,500	)
Payment of dividend		(25,459	)		—			—			—			—		(25,459	)
Proceeds from exercise of stock option and purchase plans		1,078			—			—			—			—		1,078
Other financing activities, net		10			—			—			(147	)		—		(137	)
Net cash used in financing activities		(24,371	)		(3,500	)		—			(147	)		—		(28,018	)
Net change in cash and cash equivalents		—			5,430			—			(11,592	)		—		(6,162	)
Cash and cash equivalents at beginning of period		—			714			—			60,865			—		61,579
Cash and cash equivalents at end of period	$	—		$	6,144		$	—		$	49,273		$	—	$	55,417