Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2016


(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated

ASSETS:
Property and equipment, net of accumulated depreciation	$	6,851		$	—		$	1,613,142		$	347,556		$	—		$	1,967,549
Cash and cash equivalents - unrestricted		77			1,031			660			55,382			—			57,150
Cash and cash equivalents - restricted		—			—			—			29,958			—			29,958
Notes receivable		—			—			—			152,365			—			152,365
Trade receivables, less allowance		—			—			—			61,307			—			61,307
Deferred income tax assets, net		(1,406	)		—			(514	)		2,264			—			344
Prepaid expenses and other assets		179			—			82,093			76,780			(84,303	)		74,749
Intercompany receivables, net		—			—			1,381,495			—			(1,381,495	)		—
Investments		953,317			2,795,064			531,367			697,380			(4,977,128	)		—

Total assets	$	959,018		$	2,796,095		$	3,608,243		$	1,422,992		$	(6,442,926	)	$	2,343,422


LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—		$	1,480,248		$	—		$	673		$	—		$	1,480,921
Accounts payable and accrued liabilities		44			17,586			2,316			217,419			(84,586	)		152,779
Dividends payable		38,778			—			—			—			—			38,778
Deferred management rights proceeds		—			—			—			182,361			—			182,361
Other liabilities		—			—			86,056			59,949			283			146,288
Intercompany payables, net		577,901			515,944			—			287,650			(1,381,495	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—			—			—			—
Common stock		509			1			1			2,387			(2,389	)		509
Additional paid-in-capital		887,155			944,113			2,812,431			1,213,325			(4,969,869	)		887,155
Treasury stock		(10,359	)		—			—			—			—			(10,359	)
Accumulated deficit		(510,008	)		(161,797	)		707,439			(515,770	)		(29,872	)		(510,008	)
Accumulated other comprehensive loss		(25,002	)		—			—			(25,002	)		25,002			(25,002	)

Total stockholders’ equity		342,295			782,317			3,519,871			674,940			(4,977,128	)		342,295

Total liabilities and stockholders’ equity	$	959,018		$	2,796,095		$	3,608,243		$	1,422,992		$	(6,442,926	)	$	2,343,422

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2015


(in thousands)	Parent Guarantor			Issuer			Guarantors		Non- Guarantors			Eliminations			Consolidated

ASSETS:
Property and equipment, net of accumulated depreciation	$	6,869		$	—		$	1,622,674	$	353,273		$	—		$	1,982,816
Cash and cash equivalents - unrestricted		23			1,578			158		54,532			—			56,291
Cash and cash equivalents - restricted		—			—			—		22,355			—			22,355
Notes receivable		—			—			—		152,560			—			152,560
Trade receivables, less allowance		—			—			—		55,033			—			55,033
Prepaid expenses and other assets		7,111			—			116,218		57,264			(118,214	)		62,379
Intercompany receivables, net		—			—			1,284,587		—			(1,284,587	)		—
Investments		976,809			2,795,064			531,628		697,381			(5,000,882	)		—

Total assets	$	990,812		$	2,796,642		$	3,555,265	$	1,392,398		$	(6,403,683	)	$	2,331,434


LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—		$	1,431,032		$	—	$	678		$	—		$	1,431,710
Accounts payable and accrued liabilities		103			8,153			1,390		262,234			(118,497	)		153,383
Dividends payable		36,868			—			—		—			—			36,868
Deferred management rights proceeds		—			—			—		183,119			—			183,119
Deferred income tax liabilities, net		1,609			—			599		(1,045	)		—			1,163
Other liabilities		—			—			84,746		60,600			283			145,629
Intercompany payables, net		572,670			506,341			—		205,576			(1,284,587	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—		—			—			—
Common stock		513			1			1		2,387			(2,389	)		513
Additional paid-in-capital		887,501			996,425			2,812,431		1,213,324			(5,022,180	)		887,501
Treasury stock		(10,001	)		—			—		—			—			(10,001	)
Accumulated deficit		(473,404	)		(145,310	)		656,098		(509,428	)		(1,360	)		(473,404	)
Accumulated other comprehensive loss		(25,047	)		—			—		(25,047	)		25,047			(25,047	)

Total stockholders’ equity		379,562			851,116			3,468,530		681,236			(5,000,882	)		379,562

Total liabilities and stockholders’ equity	$	990,812		$	2,796,642		$	3,555,265	$	1,392,398		$	(6,403,683	)	$	2,331,434

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, 2016


	Parent								Non-
(in thousands)	Guarantor			Issuer			Guarantors		Guarantors			Eliminations			Consolidated

Revenues:
Rooms	$	—		$	—		$	—	$	96,969		$	—		$	96,969
Food and beverage		—			—			—		122,233			—			122,233
Other hotel revenue		—			—			78,647		28,714			(82,372	)		24,989
Entertainment		89			—			—		17,293			(76	)		17,306

Total revenues		89			—			78,647		265,209			(82,448	)		261,497
Operating expenses:
Rooms		—			—			—		25,981			—			25,981
Food and beverage		—			—			—		68,257			—			68,257
Other hotel expenses		—			—			10,945		140,282			(78,539	)		72,688
Management fees		—			—			—		5,337			—			5,337

Total hotel operating expenses		—			—			10,945		239,857			(78,539	)		172,263
Entertainment		—			—			—		14,772			(76	)		14,696
Corporate		83			374			1		6,513			—			6,971
Corporate overhead allocation		2,167			—			1,666		—			(3,833	)		—
Depreciation and amortization		32			—			14,743		13,998			—			28,773

Total operating expenses		2,282			374			27,355		275,140			(82,448	)		222,703

Operating income (loss)		(2,193	)		(374	)		51,292		(9,931	)		—			38,794

Interest expense		—			(16,113	)		41		33			—			(16,039	)
Interest income		28			—			—		3,115			—			3,143
Loss from joint ventures		—			—			—		(390	)		—			(390	)
Other gains and (losses), net		—			—			—		(47	)		—			(47	)

Income (loss) before income taxes		(2,165	)		(16,487	)		51,333		(7,220	)		—			25,461
Benefit for income taxes		—			—			7		878			—			885
Equity in subsidiaries’ earnings, net		28,511			—			—		—			(28,511	)		—

Net income (loss)	$	26,346		$	(16,487	)	$	51,340	$	(6,342	)	$	(28,511	)	$	26,346

Comprehensive income (loss)	$	26,391		$	(16,487	)	$	51,340	$	(6,297	)	$	(28,556	)	$	26,391

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		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		—			—			—			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

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, 2016


(in thousands)	Parent Guarantor			Issuer			Guarantors			Non- Guarantors			Eliminations		Consolidated

Net cash provided by (used in) operating activities	$	56,533		$	(48,547	)	$	5,677		$	39,610		$	—	$	53,273


Purchases of property and equipment		(12	)		—			(5,175	)		(8,053	)		—		(13,240	)
Proceeds from sale of Peterson LOI		6,785			—			—			—			—		6,785
Investment in unconsolidated joint ventures		—			—			—			(21,523	)		—		(21,523	)
Increase in restricted cash and cash equivalents		—			—			—			(7,603	)		—		(7,603	)
Other investing activities		—			—			—			(1,575	)		—		(1,575	)

Net cash provided by (used in) investing activities		6,773			—			(5,175	)		(38,754	)		—		(37,156	)


Net borrowings under credit facility		—			55,000			—			—			—		55,000
Repayments under term loan B		—			(1,000	)		—			—			—		(1,000	)
Repayment of note payable related to purchase of AC Hotel		—			(6,000	)		—			—			—		(6,000	)
Repurchase of Company stock for retirement		(24,811	)		—			—			—			—		(24,811	)
Payment of dividend		(36,433	)		—			—			—			—		(36,433	)
Proceeds from exercise of stock options		913			—			—			—			—		913
Payment of tax withholdings for share-based compensation		(2,921	)		—			—			—			—		(2,921	)
Other financing activities		—			—			—			(6	)		—		(6	)

Net cash provided by (used in) financing activities		(63,252	)		48,000			—			(6	)		—		(15,258	)


Net change in cash and cash equivalents		54			(547	)		502			850			—		859
Cash and cash equivalents at beginning of period		23			1,578			158			54,532			—		56,291

Cash and cash equivalents at end of period	$	77		$	1,031		$	660		$	55,382		$	—	$	57,150

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2015


	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations		Consolidated

Net cash provided by (used in) operating activities	$	175,786		$	(170,289	)	$	2		$	1,990		$	—	$	7,489


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
Payment of tax withholdings for share-based compensation		(3,617	)		—			—			—			—		(3,617	)
Other financing activities		—			—			—			(157	)		—		(157	)

Net cash provided by (used in) financing activities		(186,039	)		170,000			—			(157	)		—		(16,196	)


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