Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)

6 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors		Non- Guarantors			Eliminations			Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	6,564		$	—		$	1,662,903	$	345,632		$	—		$	2,015,099
Cash and cash equivalents – unrestricted		97			1,290			47		39,885			—			41,319
Cash and cash equivalents – restricted		—			—			—		25,270			—			25,270
Notes receivable		—			—			—		152,615			—			152,615
Trade receivables, less allowance		—			—			—		68,512			—			68,512
Deferred financing costs		—			27,587			—		—			—			27,587
Prepaid expenses and other assets		7,005			—			110,238		54,368			(112,470	)		59,141
Intercompany receivables, net		—			—			1,168,963		—			(1,168,963	)		—
Investments		986,492			2,795,065			531,962		697,391			(5,010,910	)		—
Total assets	$	1,000,158		$	2,823,942		$	3,474,113	$	1,383,673		$	(6,292,343	)	$	2,389,543
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—		$	1,492,500		$	—	$	739		$	—		$	1,493,239
Accounts payable and accrued liabilities		219			8,716			226		241,237			(112,751	)		137,647
Deferred income tax liabilities, net		7,056			(21	)		594		6,997			—			14,626
Deferred management rights proceeds		—			—			—		184,635			—			184,635
Dividends payable		33,931			—			—		—			—			33,931
Other liabilities		—			—			82,064		61,592			283			143,939
Intercompany payables, net		577,426			368,968			—		222,571			(1,168,965	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—		—			—			—
Common stock		513			1			1		2,387			(2,389	)		513
Additional paid-in-capital		883,590			1,066,007			2,812,431		1,213,325			(5,091,763	)		883,590
Treasury stock		(9,323	)		—			—		—			—			(9,323	)
Accumulated deficit		(467,019	)		(112,229	)		578,797		(523,575	)		57,007			(467,019	)
Accumulated other comprehensive loss		(26,235	)		—			—		(26,235	)		26,235			(26,235	)
Total stockholders’ equity		381,526			953,779			3,391,229		665,902			(5,010,910	)		381,526
Total liabilities and stockholders’ equity	$	1,000,158		$	2,823,942		$	3,474,113	$	1,383,673		$	(6,292,343	)	$	2,389,543

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 June 30, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	104,540		$	—		$	104,540
Food and beverage		—			—			—			119,042			—			119,042
Other hotel revenue		—			—			74,776			26,685			(79,208	)		22,253
Entertainment (previously Opry and Attractions)		58			—			—			28,190			(47	)		28,201
Total revenues		58			—			74,776			278,457			(79,255	)		274,036
Operating expenses:
Rooms		—			—			—			26,802			—			26,802
Food and beverage		—			—			—			64,789			—			64,789
Other hotel expenses		—			—			10,900			133,878			(74,669	)		70,109
Management fees		—			—			—			3,791			—			3,791
Total hotel operating expenses		—			—			10,900			229,260			(74,669	)		165,491
Entertainment (previously Opry and Attractions)		—			—			—			16,705			(46	)		16,659
Corporate		121			333			2			5,817			—			6,273
Corporate overhead allocation		2,534			—			2,006			—			(4,540	)		—
Preopening costs		—			—			—			199			—			199
Depreciation and amortization		31			—			14,729			13,639			—			28,399
Total operating expenses		2,686			333			27,637			265,620			(79,255	)		217,021
Operating income (loss)		(2,628	)		(333	)		47,139			12,837			—			57,015
Interest expense		—			(17,912	)		2			96			—			(17,814	)
Interest income		—			—			—			3,393			—			3,393
Other gains and (losses), net		(60	)		—			—			(279	)		—			(339	)
Income (loss) before income taxes		(2,688	)		(18,245	)		47,141			16,047			—			42,255
(Provision) benefit for income taxes		—			22			(123	)		(765	)		—			(866	)
Equity in subsidiaries’ earnings, net		44,077			—			—			—			(44,077	)		—
Net income (loss)	$	41,389		$	(18,223	)	$	47,018		$	15,282		$	(44,077	)	$	41,389
Comprehensive income (loss)	$	41,426		$	(18,223	)	$	47,018		$	15,319		$	(44,114	)	$	41,426

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended June 30, 2014

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	99,376		$	—		$	99,376
Food and beverage		—			—			—			109,959			—			109,959
Other hotel revenue		—			—			74,926			28,121			(79,452	)		23,595
Entertainment (previously Opry and Attractions)		84			—			—			24,929			(30	)		24,983
Total revenues		84			—			74,926			262,385			(79,482	)		257,913
Operating expenses:
Rooms		—			—			—			26,903			—			26,903
Food and beverage		—			—			—			61,058			—			61,058
Other hotel expenses		—			—			11,167			132,485			(74,829	)		68,823
Management fees		—			—			—			3,952			—			3,952
Total hotel operating expenses		—			—			11,167			224,398			(74,829	)		160,736
Entertainment (previously 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	)		—			—			159			—			(4,337	)
Income (loss) before income taxes		(14,616	)		(10,350	)		46,801			6,732			—			28,567
(Provision) benefit for income taxes		41			—			(515	)		(102	)		—			(576	)
Equity in subsidiaries’ earnings, net		42,566			—			—			—			(42,566	)		—
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 Six Months Ended June 30, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	199,261		$	—		$	199,261
Food and beverage		—			—			—			237,373			—			237,373
Other hotel revenue		—			—			150,336			54,353			(159,034	)		45,655
Entertainment (previously Opry and Attractions)		115			—			—			44,897			(117	)		44,895
Total revenues		115			—			150,336			535,884			(159,151	)		527,184
Operating expenses:
Rooms		—			—			—			52,869			—			52,869
Food and beverage		—			—			—			129,864			—			129,864
Other hotel expenses		—			—			21,868			268,657			(150,120	)		140,405
Management fees		—			—			—			7,303			—			7,303
Total hotel operating expenses		—			—			21,868			458,693			(150,120	)		330,441
Entertainment (previously Opry and Attractions)		—			—			—			29,938			(117	)		29,821
Corporate		173			649			2			12,543			—			13,367
Corporate overhead allocation		4,999			—			3,915			—			(8,914	)		—
Preopening costs		—			—			—			791			—			791
Impairment and other charges		—			—			—			2,890			—			2,890
Depreciation and amortization		63			—			29,515			27,391			—			56,969
Total operating expenses		5,235			649			55,300			532,246			(159,151	)		434,279
Operating income (loss)		(5,120	)		(649	)		95,036			3,638			—			92,905
Interest expense		—			(31,763	)		2			134			—			(31,627	)
Interest income		—			—			—			6,401			—			6,401
Other gains and (losses), net		(20,246	)		—			—			(325	)		—			(20,571	)
Income (loss) before income taxes		(25,366	)		(32,412	)		95,038			9,848			—			47,108
(Provision) benefit for income taxes		—			22			(124	)		(1,085	)		—			(1,187	)
Equity in subsidiaries’ earnings, net		71,287			—			—			—			(71,287	)		—
Net income (loss)	$	45,921		$	(32,390	)	$	94,914		$	8,763		$	(71,287	)	$	45,921
Comprehensive income (loss)	$	46,017		$	(32,390	)	$	94,914		$	8,859		$	(71,383	)	$	46,017

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Six Months Ended June 30, 2014

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	190,458		$	—		$	190,458
Food and beverage		—			—			—			227,203			—			227,203
Other hotel revenue		—			—			142,786			56,693			(152,007	)		47,472
Entertainment (previously Opry and Attractions)		84			—			—			39,178			(31	)		39,231
Total revenues		84			—			142,786			513,532			(152,038	)		504,364
Operating expenses:
Rooms		—			—			—			54,381			—			54,381
Food and beverage		—			—			—			124,240			—			124,240
Other hotel expenses		—			—			22,868			260,702			(142,645	)		140,925
Management fees		—			—			—			7,863			—			7,863
Total hotel operating expenses		—			—			22,868			447,186			(142,645	)		327,409
Entertainment (previously 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	)		—			—			170			—			(4,326	)
Income (loss) before income taxes		(23,895	)		(19,857	)		86,137			6,351			—			48,736
(Provision) benefit for income taxes		—			—			(911	)		819			—			(92	)
Equity in subsidiaries’ earnings, net		72,539			—			—			—			(72,539	)		—
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

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, 2015

(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	205,079		$	(140,988	)	$	398		$	11,121		$	—	$	75,610
Purchases of property and equipment		(53	)		—			(387	)		(38,378	)		—		(38,818	)
Proceeds from sale of Peterson LOI		10,000			—			—			—			—		10,000
Increase in restricted cash and cash equivalents		—			—			—			(7,860	)		—		(7,860	)
Other investing activities		—			—			—			340			—		340
Net cash provided by (used in) investing activities		9,947			—			(387	)		(45,898	)		—		(36,338	)
Net borrowings under credit facility		—			(246,000	)		—			—			—		(246,000	)
Repayments under term loan B		—			(2,000	)		—			—			—		(2,000	)
Issuance of senior notes		—			400,000			—			—			—		400,000
Repurchase of common stock warrants		(154,681	)		—			—			—			—		(154,681	)
Deferred financing costs paid		—			(10,723	)		—			—			—		(10,723	)
Payment of dividend		(62,070	)		—			—			—			—		(62,070	)
Proceeds from exercise of stock option and purchase plans		1,430			—			—			—			—		1,430
Other financing activities, net		—			—			—			(317	)		—		(317	)
Net cash provided by (used in) financing activities		(215,321	)		141,277			—			(317	)		—		(74,361	)
Net change in cash and cash equivalents		(295	)		289			11			(35,094	)		—		(35,089	)
Cash and cash equivalents at beginning of period		392			1,001			36			74,979			—		76,408
Cash and cash equivalents at end of period	$	97		$	1,290		$	47		$	39,885		$	—	$	41,319

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) operating activities	$	235,131		$	(174,452	)	$	35		$	30,995		$	—	$	91,709
Purchases of property and equipment		(6,649	)		—			(7	)		(29,117	)		—		(35,773	)
Decrease in restricted cash and cash equivalents		—			—			—			6,268			—		6,268
Other investing activities		—			—			—			398			—		398
Net cash used in investing activities		(6,649	)		—			(7	)		(22,451	)		—		(29,107	)
Net repayments under credit facility		—			(209,500	)		—			—			—		(209,500	)
Borrowings under term loan B		—			400,000			—			—			—		400,000
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
Other financing activities, net		12			—			—			(296	)		—		(284	)
Net cash 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