XML 53 R39.htm IDEA: XBRL DOCUMENT v3.21.2
Fair Value Measurements (Details) - USD ($)
$ in Thousands
3 Months Ended
Oct. 31, 2021
Oct. 31, 2020
Jul. 31, 2021
Jul. 31, 2020
Contingent Consideration $ 24,100 $ 16,000 $ 29,600 $ 17,800
Payments for Rent (7,500) (2,602)    
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability $ 2,000 802    
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated subsequent year performance would result in a change in the estimated fair value within the range of approximately $4.0 million to $5.9 million.      
Contingent Consideration, Key Assumptions for Valuation The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated subsequent year performance, escalated by an assumed growth factor. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included a discount rate of 11.0%, volatility of 17.0% and future period Park City EBITDA, which are unobservable inputs and thus are considered Level 3 inputs.      
Money Market $ 504,064 204,036 253,782  
Fair Value Hedge Liabilities $ 5,348 17,855 12,942  
Canyons Obligation [Member]        
Business Combination, Contingent Consideration Arrangements, Description 42% of the amount by which EBITDA for the Park City resort operations, as calculated under the lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the lease by the Company.      
Level 2 [Member]        
Fair Value Hedge Liabilities $ 5,348 17,855 12,942  
Fair Value, Inputs, Level 3 [Member]        
Contingent Consideration 24,100 16,000 29,600  
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]        
Money Market   204,036    
Commercial Paper 504,064   253,782  
Commercial Paper [Member]        
Commercial Paper 2,401 2,401 2,401  
Commercial Paper [Member] | Level 2 [Member]        
Commercial Paper 2,401 2,401 2,401  
Certificates of Deposit [Member]        
Commercial Paper 9,984 8,076 259,945  
Certificates of Deposit [Member] | Level 2 [Member]        
Commercial Paper $ 9,984 $ 8,076 $ 259,945