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Immaterial Correction of an Error (Notes)
 12 Months Ended
Dec. 31, 2013
Accounting Changes and Error Corrections [Abstract]  
Immaterial Correction of an Error
Immaterial Correction of an Error
In conjunction with the preparation of our 2013 income tax provision, we determined an immaterial correction was needed related to the inclusion of a deferred tax asset related to the accumulated foreign earnings timing difference that was inadvertently included in the reversal of the valuation allowance. The foreign earnings timing difference should have continued to be fully reserved through the valuation allowance. Additionally, it was determined that the allocation of the reversal of the valuation allowance to other comprehensive income should have been allocated to income tax expense (benefit) on the consolidated statement of operations as opposed to accumulated other comprehensive income on the consolidated balance sheet.
We have adjusted our consolidated financial statements as of and for the year ended December 31, 2012 to appropriately reflect the change in income tax expense and deferred income taxes. The impact of these adjustments is limited to the fourth quarter of 2012 and does not impact prior interim financial statements. All financial information included in the notes to the consolidated financial statements impacted by the below adjustments have been revised as applicable.
The following tables present the effect of these adjustments on our consolidated financial statements as of and for the year ended December 31, 2012:
Consolidated Balance Sheet as of December 31, 2012
(Amounts in thousands)
As Reported
 
Adjustments
 
As Revised
Liabilities
 
 
 
 
 
Deferred income taxes
$
65,070

 
$
7,487

 
$
72,557

Total noncurrent liabilities
1,540,434

 
7,487

 
1,547,921

Total liabilities
1,722,297

 
7,487

 
1,729,784

 
 
 
 
 
 
Equity
 
 
 
 
 
Retained earnings
$
15,849

 
$
11,926

 
$
27,775

Accumulated other comprehensive loss, net of tax
(29,688
)
 
(19,413
)
 
(49,101
)
Total Six Flags Entertainment Corporation stockholders' equity
892,219

 
(7,487
)
 
884,732

Total equity
896,153

 
(7,487
)
 
888,666

Consolidated Statement of Operations for the Year Ended December 31, 2012
(Amounts in thousands, except per share data)
As Reported
 
Adjustments
 
As Revised
Components of net income
 
 
 
 
 
Income tax expense (benefit)
$
(172,228
)
 
$
(11,926
)
 
$
(184,154
)
Income from continuing operations before discontinued operations
383,840

 
11,926

 
395,766

Net income
391,113

 
11,926

 
403,039

Net income attributable to Six Flags Entertainment Corporation
354,009

 
11,926

 
365,935

 
 
 
 
 

Amounts attributable to Six Flags Entertainment Corporation
 
 
 
 

Income from continuing operations
$
346,736

 
$
11,926

 
$
358,662

Income from discontinued operations
7,273

 
—

 
7,273

Net income
$
354,009

 
$
11,926

 
$
365,935

 
 
 
 
 

Net income per average common share outstanding - basic
 
 
 
 

Income from continuing operations attributable to Six Flags Entertainment Corporation common stockholders
$
3.22

 
$
0.11

 
$
3.33

Income from discontinued operations attributable to Six Flags Entertainment Corporation common stockholders
0.07

 
—

 
0.07

Net income attributable to Six Flags Entertainment Corporation common stockholders
$
3.29

 
$
0.11

 
$
3.40

 
 
 
 
 

Net income per average common share outstanding - diluted
 
 
 
 

Income from continuing operations attributable to Six Flags Entertainment Corporation common stockholders
$
3.12

 
$
0.11

 
$
3.23

Income from discontinued operations attributable to Six Flags Entertainment Corporation common stockholders
0.07

 
—

 
0.07

Net income attributable to Six Flags Entertainment Corporation common stockholders
$
3.19

 
$
0.11

 
$
3.30

Consolidated Statement of Comprehensive Income for the Year Ended December 31, 2012
(Amounts in thousands)
As Reported
 
Adjustments
 
As Revised
Components of comprehensive income
 
 
 
 
 
Net income
$
391,113

 
$
11,926

 
$
403,039

Foreign current translation adjustment
6,835

 
(2,319
)
 
4,516

Defined benefit retirement plan
13,890

 
(17,094
)
 
(3,204
)
Change in cash flow hedging
(501
)
 
—

 
(501
)
Other comprehensive income, net of tax
20,224

 
(19,413
)
 
811

Comprehensive income
411,337

 
(7,487
)
 
403,850

Comprehensive income attributable to Six Flags Entertainment Corporation
374,233

 
(7,487
)
 
366,746

Consolidated Statement of Cash Flows for the Year Ended December 31, 2012
(Amounts in thousands)
As Reported
 
Adjustments
 
As Revised
Cash flow from operating activities
 
 
 
 
 
Net income
$
391,113

 
$
11,926

 
$
403,039

Deferred income tax benefit
(182,241
)
 
(11,926
)
 
(194,167
)