$PRKS
United Parks & Resorts Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019029638 Filed on August 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $406.0M $280.0M $391.9M
YoY Change 3.59% 5.47% 4.86%
Cost Of Revenue $198.4M $183.2M $222.0M
YoY Change -10.63% 1.16% 1.69%
Gross Profit $207.6M $96.80M $169.9M
YoY Change 22.19% 14.69% 9.33%
Gross Profit Margin 51.13% 34.57% 43.35%
Selling, General & Admin $71.20M $43.60M $71.00M
YoY Change 0.28% -16.95% 2.6%
% of Gross Profit 34.3% 45.04% 41.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.00M $41.40M $40.00M
YoY Change 0.0% -3.04% 1.27%
% of Gross Profit 19.27% 42.77% 23.54%
Operating Expenses $111.2M $85.00M $111.0M
YoY Change 0.18% -10.71% 2.21%
Operating Profit $96.26M $10.87M $55.21M
YoY Change 74.36% -199.89% -124.81%
Interest Expense -$21.80M -$20.90M -$20.60M
YoY Change 5.83% 3.98% 5.64%
% of Operating Profit -22.65% -192.2% -37.31%
Other Income/Expense, Net $100.0K $100.0K $0.00
YoY Change -100.0%
Pretax Income $74.50M -$18.20M $34.70M
YoY Change 114.7% -41.29% -114.33%
Income Tax $21.90M -$7.100M $12.00M
% Of Pretax Income 29.4% 34.58%
Net Earnings $52.65M -$11.05M $22.70M
YoY Change 131.97% -45.93% -112.91%
Net Earnings / Revenue 12.97% -3.95% 5.79%
Basic Earnings Per Share $0.65 -$0.13 $0.26
Diluted Earnings Per Share $0.64 -$0.13 $0.26
COMMON SHARES
Basic Shares Outstanding 81.52M 86.40M
Diluted Shares Outstanding 82.17M 86.89M

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.60M $34.10M $33.50M
YoY Change 30.15% 2.71% -0.89%
Cash & Equivalents $43.60M $34.07M $34.72M
Short-Term Investments
Other Short-Term Assets $18.20M $9.022M $17.30M
YoY Change 5.2% 32.7% -0.57%
Inventory $43.22M $35.81M $39.80M
Prepaid Expenses
Receivables $63.28M $57.98M $72.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $168.3M $146.6M $163.1M
YoY Change 3.2% 23.4% 13.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.722B $1.692B $1.700B
YoY Change 1.3% 1.0% -0.46%
Goodwill $66.28M $66.28M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.33M $14.74M $61.10M
YoY Change -76.55% -18.0% -23.24%
Total Long-Term Assets $2.128B $1.969B $2.000B
YoY Change 6.37% 0.1% -1.46%
TOTAL ASSETS
Total Short-Term Assets $168.3M $146.6M $163.1M
Total Long-Term Assets $2.128B $1.969B $2.000B
Total Assets $2.296B $2.116B $2.164B
YoY Change 6.13% 1.43% -0.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $133.0M $120.0M $131.1M
YoY Change 1.45% 19.28% 2.82%
Accrued Expenses $20.81M $23.07M $47.90M
YoY Change -56.56% 17.61% 93.15%
Deferred Revenue $163.1M $101.1M $158.0M
YoY Change 3.26% 27.1% 8.39%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $160.5M $45.50M $23.70M
YoY Change 577.22% 17.55% -62.79%
Total Short-Term Liabilities $496.3M $310.7M $368.0M
YoY Change 34.85% 22.57% -0.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.489B $1.495B $1.494B
YoY Change -0.34% -0.57% -1.26%
Other Long-Term Liabilities $38.76M $34.35M $31.74M
YoY Change 22.1% -16.71% -38.87%
Total Long-Term Liabilities $1.528B $1.529B $31.74M
YoY Change 4712.9% -1.0% -38.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $496.3M $310.7M $368.0M
Total Long-Term Liabilities $1.528B $1.529B $31.74M
Total Liabilities $2.165B $1.850B $1.894B
YoY Change 14.3% 2.9% -2.11%
SHAREHOLDERS EQUITY
Retained Earnings -$133.3M -$149.0M -$233.9M
YoY Change -43.0% -23.55% 1.94%
Common Stock $670.4M $664.8M $654.6M
YoY Change 2.41% 3.51% 3.01%
Preferred Stock
YoY Change
Treasury Stock (at cost) $402.9M $252.9M $154.9M
YoY Change 160.15% 63.3% 0.0%
Treasury Stock Shares $15.79M $10.17M $6.520M
Shareholders Equity $131.5M $265.2M $269.7M
YoY Change
Total Liabilities & Shareholders Equity $2.296B $2.116B $2.163B
YoY Change 6.13% 1.43% -0.48%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income $52.65M -$11.05M $22.70M
YoY Change 131.97% -45.93% -112.91%
Depreciation, Depletion And Amortization $40.00M $41.40M $40.00M
YoY Change 0.0% -3.04% 1.27%
Cash From Operating Activities $129.7M $26.40M $106.5M
YoY Change 21.78% 461.7% 28.93%
INVESTING ACTIVITIES
Capital Expenditures -$64.80M -$38.90M -$51.60M
YoY Change 25.58% 18.24% 11.45%
Acquisitions
YoY Change
Other Investing Activities -$200.0K $0.00 -$500.0K
YoY Change -60.0% -100.0%
Cash From Investing Activities -$64.90M -$38.80M -$52.00M
YoY Change 24.81% 18.29% 12.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -72.80M -80.00M -60.40M
YoY Change 20.53% -1030.23% 68.25%
NET CHANGE
Cash From Operating Activities 129.7M 26.40M 106.5M
Cash From Investing Activities -64.90M -38.80M -52.00M
Cash From Financing Activities -72.80M -80.00M -60.40M
Net Change In Cash -8.000M -92.40M -5.900M
YoY Change 35.59% 373.85% -1575.0%
FREE CASH FLOW
Cash From Operating Activities $129.7M $26.40M $106.5M
Capital Expenditures -$64.80M -$38.90M -$51.60M
Free Cash Flow $194.5M $65.30M $158.1M
YoY Change 23.02% 73.67% 22.65%

Facts In Submission

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269681000
us-gaap Profit Loss
ProfitLoss
15631000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-550000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-7651000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5463000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-11823000
us-gaap Share Based Compensation
ShareBasedCompensation
7282000
us-gaap Share Based Compensation
ShareBasedCompensation
13437000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
15167000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
22487000
seas Increase Decrease In Operating Right Of Use Assets And Operating Lease Obligations
IncreaseDecreaseInOperatingRightOfUseAssetsAndOperatingLeaseObligations
263000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-363000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
167386000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35007000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
112738000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
52000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
7753000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
219000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
104000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
70000000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
150000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3968000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
34720000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-44784000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9812000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
723000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35007000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33997000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44819000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-398000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-304000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-28242000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
28553000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
32715000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2269000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2335000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1185000
CY2019Q2 seas Number Of Theme Parks
NumberOfThemeParks
12
seas Number Of Theme Parks Opened For Portion Of Period
NumberOfThemeParksOpenedForPortionOfPeriod
7
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions include, but are not limited to, the accounting for self-insurance, deferred tax assets and liabilities, deferred revenue, equity compensation and the valuation of goodwill and other indefinite-lived intangible assets.  Actual results could differ from those estimates.</p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43601000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34073000
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1218000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
934000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44819000
CY2019Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
173487000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
111181000
CY2019Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10347000
CY2018Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10071000
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
163140000
CY2018Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
101110000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
52651000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
81520000
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.65
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22697000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86399000
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
647000
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
486000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
52651000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
82167000
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.64
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
22697000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86885000
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15631000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
82432000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.19
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-40147000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86305000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
784000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
15631000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
83216000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-40147000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86305000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
407000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
253000
CY2018Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2023000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3882000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.294
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.303
CY2019Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.346
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.219
CY2018Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
7134000
CY2019Q2 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
7203000
CY2018Q4 us-gaap Self Insurance Reserve Current
SelfInsuranceReserveCurrent
6895000
CY2019Q2 us-gaap Interest Payable Current
InterestPayableCurrent
1397000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
490000
CY2019Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5074000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15681000
CY2019Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
20808000
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
23066000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1553389000
CY2019Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
5649000
CY2018Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6564000
CY2019Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5782000
CY2018Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6641000
CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
160505000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
45505000
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1488700000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1494679000
CY2019Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
20400000
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1660636000
CY2018Q4 seas Lease Liability
LeaseLiability
2965000
CY2019Q2 us-gaap Lease Cost
LeaseCost
4380000
us-gaap Lease Cost
LeaseCost
7499000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
7230000
CY2019Q2 seas Lease Liability
LeaseLiability
135059000
CY2018Q4 seas Lease Right Of Use Asset
LeaseRightOfUseAsset
16905000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
152754000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
15505000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
15505000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
15505000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
15505000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1445862000
seas Number Of Area Not To Use Within Radius Of Land Lease
NumberOfAreaNotToUseWithinRadiusOfLandLease
560
CY2019Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.082
us-gaap Lessee Operating Lease Variable Lease Payment Terms And Conditions
LesseeOperatingLeaseVariableLeasePaymentTermsAndConditions
The minimum yearly rent is adjusted every three years to an amount equal to 80% of the average accounting year rent actually paid for the three previous years.
seas Number Of Percentage Of Average Accounting Year Rent Adjusted On Minimum Yearly Rent
NumberOfPercentageOfAverageAccountingYearRentAdjustedOnMinimumYearlyRent
0.80
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
10400000
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
144634000
CY2019Q2 seas Lease Right Of Use Asset
LeaseRightOfUseAsset
148440000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4105000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
127099000
CY2019Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
413000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14244000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
825000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13895000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
332000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12898000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
204000
CY2019Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
208000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12355000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
13111000
CY2019Q2 seas Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
12141000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
220000
CY2019Q2 seas Finance Lease Liability Payments Due Year Six
FinanceLeaseLiabilityPaymentsDueYearSix
201000
CY2019Q2 seas Lessee Operating Lease Liability Payments Due After Year Six
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearSix
247424000
CY2019Q2 seas Finance Lease Liability Payments Due After Year Six
FinanceLeaseLiabilityPaymentsDueAfterYearSix
2593000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
320187000
CY2019Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
4776000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
188983000
CY2019Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
921000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
131204000
CY2019Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
3855000
seas Operating Leases Payment Options To Extend Lease Terms Exercised
OperatingLeasesPaymentOptionsToExtendLeaseTermsExercised
7200000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
16578000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
231000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
14179000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
226000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
11416000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
208000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
10479000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
204000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
265234000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
2794000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
330997000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Net Minimum Payments1
CapitalLeasesFutureMinimumPaymentsNetMinimumPayments1
3883000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
918000
CY2018Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
2965000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0811
CY2019Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0367
us-gaap Operating Lease Payments
OperatingLeasePayments
6793000
seas Operating Cash Flows From Financing Leases
OperatingCashFlowsFromFinancingLeases
77000
seas Financing Cash Flows From Financing Leases
FinancingCashFlowsFromFinancingLeases
339000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
1230000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
133297000
CY2019Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
3700000
CY2019Q2 seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
-3572000
CY2018Q2 seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
3777000
seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
-5525000
seas Unrealized Gain Loss On Derivatives Recognized In Accumulated Other Comprehensive Income Loss
UnrealizedGainLossOnDerivativesRecognizedInAccumulatedOtherComprehensiveIncomeLoss
15893000
CY2019Q2 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
349000
CY2018Q2 us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
383000
us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
1204000
us-gaap Derivative Instruments Loss Reclassified From Accumulated Oci Into Income Effective Portion
DerivativeInstrumentsLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortion
2234000
CY2019Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
3700000
CY2019Q2 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
0
CY2019Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
3700000
CY2019Q2 seas Transfers Between Fair Value Measurement Levels
TransfersBetweenFairValueMeasurementLevels
0
seas Transfers Between Fair Value Measurement Levels
TransfersBetweenFairValueMeasurementLevels
0
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
0
CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
160500000
CY2019Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1489000000
CY2018 seas Transfers Between Fair Value Measurement Levels
TransfersBetweenFairValueMeasurementLevels
0
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
45500000
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1495000000
seas Stock Repurchased Agreement Closing Date
StockRepurchasedAgreementClosingDate
2019-05-30
seas License Agreement Term Description
LicenseAgreementTermDescription
On May 16, 2017, SEA entered into a License Agreement (the “License Agreement”) with Sesame Workshop (“Sesame”), a New York not-for-profit corporation.  SEA’s principal commitments pursuant to the License Agreement include: (i) opening a new Sesame Place theme park no later than mid-2021 in a location to be determined; (ii) building a new Sesame Land in SeaWorld Orlando by fall 2022; (iii) investing in minimum annual capital and marketing thresholds; and (iv) providing support for agreed upon sponsorship and charitable initiatives.  As of June 30, 2019, the Company estimates the combined remaining obligations for these commitments could be up to approximately $60.0 million over the remaining term of the agreement.  After the opening of the second Standalone Park (counting the existing Sesame Place Standalone Park in Langhorne, Pennsylvania), SEA will have the option to build additional Standalone Parks in the Sesame Territory within agreed upon timelines.  The License Agreement has an initial term through December 31, 2031, with an automatic additional 15 year extension plus a five year option added to the term of the License Agreement from December 31st of the year of each new Standalone Park opening. On March 27, 2019, the Company opened a new Sesame Land in SeaWorld Orlando.
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4084000
CY2018Q2 us-gaap Share Based Compensation
ShareBasedCompensation
5892000
us-gaap Share Based Compensation
ShareBasedCompensation
7282000
us-gaap Share Based Compensation
ShareBasedCompensation
13437000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000000.0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5500000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
764577
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
430390
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
25.70
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
92095
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
20.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
8593
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
18.52
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
131176
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
17.80
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
963103
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.22
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
9417000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
464385
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
18.38
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5859000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.45
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0248
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2850
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
93884971
CY2019Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
15790463
CY2019Q2 seas Restructuring Charges And Other Separation Costs Incurred
RestructuringChargesAndOtherSeparationCostsIncurred
100000
seas Restructuring Charges And Other Separation Costs Incurred
RestructuringChargesAndOtherSeparationCostsIncurred
2600000
CY2018Q1 us-gaap Severance Costs1
SeveranceCosts1
6700000

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