Information Concerning Guarantor and Non-Guarantor Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2016

	Parent								Non-
(in thousands)	Guarantor			Issuer			Guarantors		Guarantors			Eliminations			Consolidated
ASSETS:
Property and equipment, net of accumulated depreciation	$	15,107		$	—		$	1,605,047	$	371,536		$	—		$	1,991,690
Cash and cash equivalents - unrestricted		59			1,079			33		34,687			—			35,858
Cash and cash equivalents - restricted		—			—			—		25,872			—			25,872
Notes receivable		—			—			—		150,517			—			150,517
Trade receivables, less allowance		—			—			—		58,253			—			58,253
Investment in Gaylord Rockies joint venture		—			—			—		50,385			—			50,385
Prepaid expenses and other assets		447			67			6,486		63,115			(7,578	)		62,537
Intercompany receivables, net		—			—			1,577,611		—			(1,577,611	)		—
Investments		955,365			2,861,471			530,944		763,791			(5,111,571	)		—
Total assets	$	970,978		$	2,862,617		$	3,720,121	$	1,518,156		$	(6,696,760	)	$	2,375,112
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Debt and capital lease obligations	$	—		$	1,486,179		$	—	$	664		$	—		$	1,486,843
Accounts payable and accrued liabilities		1,047			17,454			13,461		136,950			(7,565	)		161,347
Dividends payable		39,087			—			—		—			—			39,087
Deferred management rights proceeds		—			—			—		180,846			—			180,846
Deferred income tax liabilities, net		1,016			—			434		(83	)		—			1,367
Other liabilities		—			—			88,679		66,760			(13	)		155,426
Intercompany payables, net		579,632			695,102			—		302,877			(1,577,611	)		—
Commitments and contingencies
Stockholders’ equity:
Preferred stock		—			—			—		—			—			—
Common stock		510			1			1		2,387			(2,389	)		510
Additional paid-in-capital		890,946			859,304			2,812,431		1,346,142			(5,017,877	)		890,946
Treasury stock		(11,142	)		—			—		—			—			(11,142	)
Accumulated deficit		(501,505	)		(195,423	)		805,115		(489,774	)		(119,918	)		(501,505	)
Accumulated other comprehensive loss		(28,613	)		—			—		(28,613	)		28,613			(28,613	)
Total stockholders’ equity		350,196			663,882			3,617,547		830,142			(5,111,571	)		350,196
Total liabilities and stockholders’ equity	$	970,978		$	2,862,617		$	3,720,121	$	1,518,156		$	(6,696,760	)	$	2,375,112

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2015

	Parent								Non-
(in thousands)	Guarantor			Issuer			Guarantors		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 September 30, 2016

	Parent								Non-
(in thousands)	Guarantor			Issuer			Guarantors		Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—	$	101,085		$	—		$	101,085
Food and beverage		—			—			—		113,100			—			113,100
Other hotel revenue		—			—			74,738		30,724			(78,628	)		26,834
Entertainment		46			—			—		30,701			(46	)		30,701
Total revenues		46			—			74,738		275,610			(78,674	)		271,720
Operating expenses:
Rooms		—			—			—		28,371			—			28,371
Food and beverage		—			—			—		64,790			—			64,790
Other hotel expenses		—			—			10,860		137,101			(74,630	)		73,331
Management fees, net		—			—			—		4,408			—			4,408
Total hotel operating expenses		—			—			10,860		234,670			(74,630	)		170,900
Entertainment		—			—			—		19,146			(46	)		19,100
Corporate		98			410			—		7,939			—			8,447
Corporate overhead allocation		2,278			—			1,720		—			(3,998	)		—
Depreciation and amortization		55			—			14,765		11,886			—			26,706
Total operating expenses		2,431			410			27,345		273,641			(78,674	)		225,153
Operating income (loss)		(2,385	)		(410	)		47,393		1,969			—			46,567
Interest expense		18			(16,444	)		119		360			—			(15,947	)
Interest income		—			—			—		2,965			—			2,965
Loss from joint ventures		—			—			—		(638	)		—			(638	)
Other gains and (losses), net		—			—			—		2,468			—			2,468
Income (loss) before income taxes		(2,367	)		(16,854	)		47,512		7,124			—			35,415
(Provision) benefit for income taxes		(352	)		—			36		(1,506	)		—			(1,822	)
Equity in subsidiaries’ earnings, net		36,312			—			—		—			(36,312	)		—
Net income (loss)	$	33,593		$	(16,854	)	$	47,548	$	5,618		$	(36,312	)	$	33,593
Comprehensive income (loss)	$	29,979		$	(16,854	)	$	47,548	$	2,004		$	(32,698	)	$	29,979

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Three Months Ended September 30, 2015

	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	92,828		$	—		$	92,828
Food and beverage		—			—			—			108,558			—			108,558
Other hotel revenue		—			—			74,846			27,685			(79,075	)		23,456
Entertainment		57			—			—			27,966			(45	)		27,978
Total revenues		57			—			74,846			257,037			(79,120	)		252,820
Operating expenses:
Rooms		—			—			—			27,347			—			27,347
Food and beverage		—			—			—			63,797			—			63,797
Other hotel expenses		—			—			10,935			133,909			(74,736	)		70,108
Management fees, net		—			—			—			3,213			—			3,213
Total hotel operating expenses		—			—			10,935			228,266			(74,736	)		164,465
Entertainment		—			—			—			19,000			(46	)		18,954
Corporate		78			374			—			7,565			—			8,017
Corporate overhead allocation		2,482			—			1,856			—			(4,338	)		—
Preopening costs		—			—			—			118			—			118
Depreciation and amortization		32			—			14,730			13,736			—			28,498
Total operating expenses		2,592			374			27,521			268,685			(79,120	)		220,052
Operating income (loss)		(2,535	)		(374	)		47,325			(11,648	)		—			32,768
Interest expense		—			(16,140	)		10			(8	)		—			(16,138	)
Interest income		—			—			—			2,982			—			2,982
Other gains and (losses), net		—			—			—			2,467			—			2,467
Income (loss) before income taxes		(2,535	)		(16,514	)		47,335			(6,207	)		—			22,079
(Provision) benefit for income taxes		(135	)		(22	)		(61	)		4,830			—			4,612
Equity in subsidiaries’ earnings, net		29,361			—			—			—			(29,361	)		—
Net income (loss)	$	26,691		$	(16,536	)	$	47,274		$	(1,377	)	$	(29,361	)	$	26,691
Comprehensive income (loss)	$	26,364		$	(16,536	)	$	47,274		$	(1,704	)	$	(29,034	)	$	26,364

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2016

	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	309,385		$	—		$	309,385
Food and beverage		—			—			—			362,550			—			362,550
Other hotel revenue		—			—			231,074			87,183			(242,653	)		75,604
Entertainment		194			—			—			81,867			(168	)		81,893
Total revenues		194			—			231,074			840,985			(242,821	)		829,432
Operating expenses:
Rooms		—			—			—			82,492			—			82,492
Food and beverage		—			—			—			201,045			—			201,045
Other hotel expenses		—			—			32,749			417,510			(230,749	)		219,510
Management fees, net		—			—			—			15,246			—			15,246
Total hotel operating expenses		—			—			32,749			716,293			(230,749	)		518,293
Entertainment		—			—			—			54,798			(168	)		54,630
Corporate		292			1,217			2			20,804			—			22,315
Corporate overhead allocation		6,748			—			5,156			—			(11,904	)		—
Depreciation and amortization		135			—			44,263			37,490			—			81,888
Total operating expenses		7,175			1,217			82,170			829,385			(242,821	)		677,126
Operating income (loss)		(6,981	)		(1,217	)		148,904			11,600			—			152,306
Interest expense		18			(48,896	)		254			622			—			(48,002	)
Interest income		28			—			—			9,088			—			9,116
Loss from joint ventures		—			—			—			(2,086	)		—			(2,086	)
Other gains and (losses), net		—			—			(87	)		2,375			—			2,288
Income (loss) before income taxes		(6,935	)		(50,113	)		149,071			21,599			—			113,622
Provision for income taxes		(352	)		—			(54	)		(1,946	)		—			(2,352	)
Equity in subsidiaries’ earnings, net		118,557			—			—			—			(118,557	)		—
Net income (loss)	$	111,270		$	(50,113	)	$	149,017		$	19,653		$	(118,557	)	$	111,270
Comprehensive income (loss)	$	107,704		$	(50,113	)	$	149,017		$	16,087		$	(114,991	)	$	107,704

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

AND COMPREHENSIVE INCOME

For the Nine Months Ended September 30, 2015

	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations			Consolidated
Revenues:
Rooms	$	—		$	—		$	—		$	292,089		$	—		$	292,089
Food and beverage		—			—			—			345,931			—			345,931
Other hotel revenue		—			—			225,182			82,038			(238,109	)		69,111
Entertainment		172			—			—			72,863			(162	)		72,873
Total revenues		172			—			225,182			792,921			(238,271	)		780,004
Operating expenses:
Rooms		—			—			—			80,216			—			80,216
Food and beverage		—			—			—			193,661			—			193,661
Other hotel expenses		—			—			32,803			402,566			(224,856	)		210,513
Management fees		—			—			—			10,516			—			10,516
Total hotel operating expenses		—			—			32,803			686,959			(224,856	)		494,906
Entertainment		—			—			—			48,938			(163	)		48,775
Corporate		251			1,023			2			20,108			—			21,384
Corporate overhead allocation		7,481			—			5,771			—			(13,252	)		—
Preopening costs		—			—			—			909			—			909
Impairment and other charges		—			—			—			2,890			—			2,890
Depreciation and amortization		95			—			44,245			41,127			—			85,467
Total operating expenses		7,827			1,023			82,821			800,931			(238,271	)		654,331
Operating income (loss)		(7,655	)		(1,023	)		142,361			(8,010	)		—			125,673
Interest expense		—			(47,903	)		12			126			—			(47,765	)
Interest income		—			—			—			9,383			—			9,383
Other gains and (losses), net		(20,246	)		—			—			2,142			—			(18,104	)
Income (loss) before income taxes		(27,901	)		(48,926	)		142,373			3,641			—			69,187
(Provision) benefit for income taxes		(135	)		—			(185	)		3,745			—			3,425
Equity in subsidiaries’ earnings, net		100,648			—			—			—			(100,648	)		—
Net income (loss)	$	72,612		$	(48,926	)	$	142,188		$	7,386		$	(100,648	)	$	72,612
Comprehensive income (loss)	$	72,381		$	(48,926	)	$	142,188		$	7,155		$	(100,417	)	$	72,381

Condensed Consolidating Statement of Cash Flows

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2016

	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	141,202		$	(51,999	)	$	23,151		$	86,762		$	—	$	199,116
Purchases of property and equipment		(8,374	)		—			(23,304	)		(52,879	)		—		(84,557	)
Proceeds from sale of Peterson LOI		6,785			—			—			—			—		6,785
Investment in Gaylord Rockies joint venture		—			—			—			(50,443	)		—		(50,443	)
Increase in restricted cash and cash equivalents		—			—			—			(3,517	)		—		(3,517	)
Other investing activities		—			—			28			245			—		273
Net cash used in investing activities		(1,589	)		—			(23,276	)		(106,594	)		—		(131,459	)
Net borrowings under credit facility		—			60,500			—			—			—		60,500
Repayments under term loan B		—			(3,000	)		—			—			—		(3,000	)
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		(112,900	)		—			—			—			—		(112,900	)
Proceeds from exercise of stock options		1,284			—			—			—			—		1,284
Payment of tax withholdings for share-based compensation		(3,150	)		—			—			—			—		(3,150	)
Other financing activities		—			—			—			(13	)		—		(13	)
Net cash provided by (used in) financing activities		(139,577	)		51,500			—			(13	)		—		(88,090	)
Net change in cash and cash equivalents		36			(499	)		(125	)		(19,845	)		—		(20,433	)
Cash and cash equivalents at beginning of period		23			1,578			158			54,532			—		56,291
Cash and cash equivalents at end of period	$	59		$	1,079		$	33		$	34,687		$	—	$	35,858

RYMAN HOSPITALITY PROPERTIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2015

	Parent									Non-
(in thousands)	Guarantor			Issuer			Guarantors			Guarantors			Eliminations		Consolidated
Net cash provided by (used in) operating activities	$	242,190		$	(117,399	)	$	2,754		$	27,070		$	—	$	154,615
Purchases of property and equipment		(199	)		—			(2,764	)		(60,389	)		—		(63,352	)
Proceeds from sale of Peterson LOI		10,000			—			—			—			—		10,000
Increase in restricted cash and cash equivalents		—			—			—			(4,444	)		—		(4,444	)
Other investing activities		—			—			—			2,533			—		2,533
Net cash provide by (used in) investing activities		9,801			—			(2,764	)		(62,300	)		—		(55,263	)
Net repayments under credit facility		—			(268,600	)		—			—			—		(268,600	)
Repayments under term loan B		—			(3,000	)		—			—			—		(3,000	)
Issuance of senior notes		—			400,000			—			—			—		400,000
Repurchase of common stock warrants		(154,681	)		—			—			—			—		(154,681	)
Deferred financing costs paid		—			(11,145	)		—			—			—		(11,145	)
Payment of dividend		(95,404	)		—			—			—			—		(95,404	)
Proceeds from exercise of stock option and purchase plans		1,430			—			—			—			—		1,430
Payment of tax withholdings for share-based compensation		(3,647	)		—			—			—			—		(3,647	)
Other financing activities		—			—			—			(373	)		—		(373	)
Net cash provided by (used in) financing activities		(252,302	)		117,255			—			(373	)		—		(135,420	)
Net change in cash and cash equivalents		(311	)		(144	)		(10	)		(35,603	)		—		(36,068	)
Cash and cash equivalents at beginning of period		392			1,001			36			74,979			—		76,408
Cash and cash equivalents at end of period	$	81		$	857		$	26		$	39,376		$	—	$	40,340