Consolidating Financial Information of Guarantors and Issuers (Tables)

3 Months Ended

Mar. 29, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Condensed Consolidating Statements of Cash Flows
For the Three Month Period Ended March 30, 2014
(In thousands)	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
As reported - Net cash from (for) operating activities	$	(73,627	)	$	(3,001	)	$	(26,042	)	$	20,317		$	(903	)	$	(83,256	)
Intercompany receivables (payments) receipts	—			23,497			—			(29,591		)	6,094			—
Intercompany payables (payments) receipts	67,320			(46,917		)	(1,201		)	(13,108		)	(6,094		)	—
As corrected - Net cash from (for) operating activities	$	(6,307	)	$	(26,421	)	$	(27,243	)	$	(22,382	)	$	(903	)	$	(83,256	)
As reported - Net cash from (for) investing activities	$	(16,379	)	$	(4	)	$	(5,077	)	$	(18,882	)	$	—		$	(40,342	)
Intercompany receivables (payments) receipts	—			(23,497		)	—			29,591			(6,094		)	—
As corrected - Net cash from (for) investing activities	$	(16,379	)	$	(23,501	)	$	(5,077	)	$	10,709		$	(6,094	)	$	(40,342	)
As reported - Net cash from (for) financing activities	$	15,006		$	(568	)	$	—		$	—		$	903		$	15,341
Intercompany payables (payments) receipts	(67,320		)	46,917			1,201			13,108			6,094			—
As corrected - Net cash from (for) financing activities	$	(52,314	)	$	46,349		$	1,201		$	13,108		$	6,997		$	15,341

Condensed Consolidating Balance Sheet

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

March 29, 2015

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—		$	—	$	14,881	$	4,844	$	—		$	19,725
Receivables	1			89,060		115,830		546,424		(727,190		)	24,125
Inventories	—			152		2,070		35,147		—			37,369
Current deferred tax asset	—			36,111		674		4,042		—			40,827
Other current assets	80			369		2,382		24,196		—			27,027
	81			125,692		135,837		614,653		(727,190		)	149,073
Property and Equipment (net)	—			5,621		202,853		1,349,790		—			1,558,264
Investment in Park	622,008			765,178		160,401		11,776		(1,559,363		)	—
Goodwill	674			—		99,603		119,606		—			219,883
Other Intangibles, net	—			—		14,119		22,864		—			36,983
Deferred Tax Asset	—			24,215		—		—		(24,215		)	—
Other Assets	5,470			20,488		7,223		8,517		—			41,698
	$	628,233		$	941,194	$	620,036	$	2,127,206	$	(2,310,768	)	$	2,005,901
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	—		$	—	$	—	$	—	$	—		$	—
Accounts payable	276,100			199,361		2,424		287,570		(727,190		)	38,265
Deferred revenue	—			92		6,077		86,495		—			92,664
Accrued interest	1,595			1,526		7,943		992		—			12,056
Accrued taxes	1,792			503		749		7,115		—			10,159
Accrued salaries, wages and benefits	—			21,608		771		3,732		—			26,111
Self-insurance reserves	—			8,031		1,413		13,341		—			22,785
Current derivative liability	5,980			4,009		—		—		—			9,989
Other accrued liabilities	864			3,365		99		7,158		—			11,486
	286,331			238,495		19,476		406,403		(727,190		)	223,515
Deferred Tax Liability	—			—		49,695		127,645		(24,215		)	153,125
Derivative Liability	11,197			8,055		—		—		—			19,252
Other Liabilities	—			3,707		—		11,644		—			15,351
Long-Term Debt:
Revolving credit loans	57,000			—		—		—		—			57,000
Term debt	—			247,890		13,991		346,969		—			608,850
Notes	294,897			205,103		450,000		—		—			950,000
	351,897			452,993		463,991		346,969		—			1,615,850
Equity	(21,192		)	237,944		86,874		1,234,545		(1,559,363		)	(21,192		)
	$	628,233		$	941,194	$	620,036	$	2,127,206	$	(2,310,768	)	$	2,005,901

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2014

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	80,000	$	382	$	45,519	$	5,939	$	—		$	131,840
Receivables	8		143,931		85,838		634,112		(836,494		)	27,395
Inventories	—		2,074		1,594		22,215		—			25,883
Current deferred tax asset	—		4,547		674		4,044		—			9,265
Other current assets	680		2,079		23,818		5,905		(23,148		)	9,334
	80,688		153,013		157,443		672,215		(859,642		)	203,717
Property and Equipment (net)	470,851		5,630		218,260		831,810		—			1,526,551
Investment in Park	544,340		812,549		163,904		43,659		(1,564,452		)	—
Goodwill	9,061		—		108,012		111,218		—			228,291
Other Intangibles, net	—		—		15,312		22,879		—			38,191
Deferred Tax Asset	—		24,827		—		—		(24,827		)	—
Other Assets	10,615		20,874		8,034		2,046		—			41,569
	$	1,115,555	$	1,016,893	$	670,965	$	1,683,827	$	(2,448,921	)	$	2,038,319
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Accounts payable	$	352,518	$	203,895	$	32,691	$	271,323	$	(836,494	)	$	23,933
Deferred revenue	—		60		4,592		56,509		—			61,161
Accrued interest	4,637		3,223		2,056		—		—			9,916
Accrued taxes	4,309		—		—		40,639		(23,148		)	21,800
Accrued salaries, wages and benefits	—		25,851		1,103		7,148		—			34,102
Self-insurance reserves	—		5,386		1,565		16,426		—			23,377
Current derivative liability	7,062		4,729		—		—		—			11,791
Other accrued liabilities	508		8,134		122		3,375		—			12,139
	369,034		251,278		42,129		395,420		(859,642		)	198,219
Deferred Tax Liability	—		—		49,695		127,645		(24,827		)	152,513
Derivative Liability	8,438		6,211		—		—		—			14,649
Other Liabilities	—		6,105		—		11,766		—			17,871
Long-Term Debt:
Term debt	346,969		247,890		13,991		—		—			608,850
Notes	294,897		205,103		450,000		—		—			950,000
	641,866		452,993		463,991		—		—			1,558,850
Equity	96,217		300,306		115,150		1,148,996		(1,564,452		)	96,217
	$	1,115,555	$	1,016,893	$	670,965	$	1,683,827	$	(2,448,921	)	$	2,038,319

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

March 30, 2014

(In thousands)

	Cedar Fair L.P. (Parent)		Co-Issuer Subsidiary (Magnum)		Co-Issuer Subsidiary (Cedar Canada)		Guarantor Subsidiaries		Eliminations			Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	571	$	3,524	$	4,772	$	—		$	8,867
Receivables	59		96,547		76,669		530,662		(684,307		)	19,630
Inventories	—		3,794		2,841		31,629		—			38,264
Current deferred tax asset	—		22,409		800		3,444		—			26,653
Other current assets	325		10,578		5,589		15,891		(2,363		)	30,020
	384		133,899		89,423		586,398		(686,670		)	123,434
Property and Equipment (net)	455,780		8,110		240,175		829,897		—			1,533,962
Investment in Park	443,179		744,425		138,604		35,052		(1,361,260		)	—
Goodwill	9,061		—		113,249		111,218		—			233,528
Other Intangibles, net	—		—		16,037		22,883		—			38,920
Deferred Tax Asset	—		30,296		—		117		(30,413		)	—
Other Assets	12,213		22,179		6,087		2,912		—			43,391
	$	920,617	$	938,909	$	603,575	$	1,588,477	$	(2,078,343	)	$	1,973,235
LIABILITIES AND PARTNERS’ EQUITY
Current Liabilities:
Current maturities of long-term debt	$	827	$	590	$	33	$	—	$	—		$	1,450
Accounts payable	173,364		230,516		10,818		314,637		(684,307		)	45,028
Deferred revenue	—		85		4,048		66,015		—			70,148
Accrued interest	2,580		1,567		5,926		—		—			10,073
Accrued taxes	4,757		849		—		3,209		(2,363		)	6,452
Accrued salaries, wages and benefits	—		18,183		503		5,833		—			24,519
Self-insurance reserves	—		5,431		1,664		15,601		—			22,696
Other accrued liabilities	280		3,086		125		1,405		—			4,896
	181,808		260,307		23,117		406,700		(686,670		)	185,262
Deferred Tax Liability	—		—		56,045		131,649		(30,413		)	157,281
Derivative Liability	16,281		11,508		—		—		—			27,789
Other Liabilities	—		4,358		—		3,397		—			7,755
Long-Term Debt:
Revolving credit loans	55,000		—		—		—		—			55,000
Term debt	351,840		251,371		14,189		—		—			617,400
Notes	294,897		205,103		401,957		—		—			901,957
	701,737		456,474		416,146		—		—			1,574,357
Equity	20,791		206,262		108,267		1,046,731		(1,361,260		)	20,791
	$	920,617	$	938,909	$	603,575	$	1,588,477	$	(2,078,343	)	$	1,973,235

Condensed Consolidating Statement of Operations and Other Comprehensive Income (Loss)

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended March 29, 2015

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	(1,383	)	$	4,020		$	78		$	46,737		$	(2,635	)	$	46,817
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			—			5,588			—			5,588
Operating expenses	134			23,057			4,971			52,603			(2,635		)	78,130
Selling, general and administrative	799			13,275			1,743			10,001			—			25,818
Depreciation and amortization	—			9			—			4,002			—			4,011
Loss on impairment / retirement of fixed assets, net	—			—			—			2,903			—			2,903
	933			36,341			6,714			75,097			(2,635		)	116,450
Operating loss	(2,316		)	(32,321		)	(6,636		)	(28,360		)	—			(69,633		)
Interest expense (income), net	7,836			6,837			6,120			(301		)	—			20,492
Net effect of swaps	14			(130		)	—			—			—			(116		)
Unrealized / realized foreign currency loss	—			—			38,218			—			—			38,218
Other (income) expense	188			(4,816		)	1,046			3,582			—			—
Loss from investment in affiliates	72,786			51,745			3,503			35,489			(163,523		)	—
Income (loss) before taxes	(83,140		)	(85,957		)	(55,523		)	(67,130		)	163,523			(128,227		)
Provision (benefit) for taxes	693			(13,172		)	(20,024		)	(11,891		)	—			(44,394		)
Net loss	$	(83,833	)	$	(72,785	)	$	(35,499	)	$	(55,239	)	$	163,523		$	(83,833	)
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	7,214			—			7,214			—			(7,214		)	7,214
Unrealized loss on cash flow hedging derivatives	(2,439		)	(777		)	—			—			777			(2,439		)
Other comprehensive income (loss), (net of tax)	4,775			(777		)	7,214			—			(6,437		)	4,775
Total Comprehensive loss	$	(79,058	)	$	(73,562	)	$	(28,285	)	$	(55,239	)	$	157,086		$	(79,058	)

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended March 30, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
Net revenues	$	4,755		$	8,679		$	151		$	40,312		$	(13,431	)	$	40,466
Costs and expenses:
Cost of food, merchandise, and games revenues	—			—			1			4,984			—			4,985
Operating expenses	1,348			22,462			6,937			63,034			(13,431		)	80,350
Selling, general and administrative	1,396			16,672			873			2,463			—			21,404
Depreciation and amortization	474			9			—			3,824			—			4,307
Loss on impairment / retirement of fixed assets, net	249			—			—			748			—			997
	3,467			39,143			7,811			75,053			(13,431		)	112,043
Operating income	1,288			(30,464		)	(7,660		)	(34,741		)	—			(71,577		)
Interest expense, net	10,199			7,011			9,468			(2,019		)	—			24,659
Net effect of swaps	194			177			—			—			—			371
Unrealized / realized foreign currency loss	—			—			17,184			—			—			17,184
Other (income) expense	187			(3,274		)	374			2,713			—			—
(Income) loss from investment in affiliates	73,588			47,143			4,064			28,244			(153,039		)	—
Income (loss) before taxes	(82,880		)	(81,521		)	(38,750		)	(63,679		)	153,039			(113,791		)
Provision (benefit) for taxes	660			(10,422		)	(10,506		)	(9,983		)	—			(30,251		)
Net income (loss)	$	(83,540	)	$	(71,099	)	$	(28,244	)	$	(53,696	)	$	153,039		$	(83,540	)
Other comprehensive income (loss), (net of tax):
Cumulative foreign currency translation adjustment	1,621			—			1,621			—			(1,621		)	1,621
Unrealized income (loss) on cash flow hedging derivatives	(650		)	(173		)	—			—			173			(650		)
Other comprehensive income (loss), (net of tax)	971			(173		)	1,621			—			(1,448		)	971
Total Comprehensive Income (loss)	$	(82,569	)	$	(71,272	)	$	(26,623	)	$	(53,696	)	$	151,591		$	(82,569	)

Condensed Consolidating Statement of Cash Flows

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 29, 2015

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FROM (FOR) OPERATING ACTIVITIES	$	(17,967	)	$	(44,980	)	$	(6,910	)	$	10,174		$	(566	)	$	(60,249	)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			—			(10,594		)	46,961			(36,367		)	—
Purchase of preferred equity investment	—			(2,000		)	—			—			—			(2,000		)
Capital expenditures	—			—			(1,500		)	(58,230		)	—			(59,730		)
Net cash for investing activities	—			(2,000		)	(12,094		)	(11,269		)	(36,367		)	(61,730		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Net borrowings on revolving credit loans	57,000			—			—			—			—			57,000
Distributions paid	(42,618		)	—			—			—			566			(42,052		)
Intercompany payables (payments) receipts	(76,415		)	47,897			(7,849		)	—			36,367			—
Excess tax benefit from unit-based compensation expense	—			(1,299		)	—			—			—			(1,299		)
Net cash from (for) financing activities	(62,033		)	46,598			(7,849		)	—			36,933			13,649
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(3,785		)	—			—			(3,785		)
CASH AND CASH EQUIVALENTS
Net decrease for the period	(80,000		)	(382		)	(30,638		)	(1,095		)	—			(112,115		)
Balance, beginning of period	80,000			382			45,519			5,939			—			131,840
Balance, end of period	$	—		$	—		$	14,881		$	4,844		$	—		$	19,725

CEDAR FAIR, L.P.

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 30, 2014

(In thousands)

	Cedar Fair L.P. (Parent)			Co-Issuer Subsidiary (Magnum)			Co-Issuer Subsidiary (Cedar Canada)			Guarantor Subsidiaries			Eliminations			Total
NET CASH FOR OPERATING ACTIVITIES	$	(6,307	)	$	(26,421	)	$	(27,243	)	$	(22,382	)	$	(903	)	$	(83,256	)
CASH FLOWS FROM (FOR) INVESTING ACTIVITIES
Intercompany receivables (payments) receipts	—			(23,497		)	—			29,591			(6,094		)	—
Capital expenditures	(16,379		)	(4		)	(5,077		)	(18,882		)	—			(40,342		)
Net cash from (for) investing activities	(16,379		)	(23,501		)	(5,077		)	10,709			(6,094		)	(40,342		)
CASH FLOWS FROM (FOR) FINANCING ACTIVITIES
Net borrowings on revolving credit loans	55,000			—			—			—			—			55,000
Distributions/dividends (paid) received	(39,994		)	—			—			—			903			(39,091		)
Intercompany payables (payments) receipts	(67,320		)	46,917			1,201			13,108			6,094			—
Excess tax benefit from unit-based compensation expense	—			(568		)	—			—			—			(568		)
Net cash from (for) financing activities	(52,314		)	46,349			1,201			13,108			6,997			15,341
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(932		)	—			—			(932		)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period	(75,000		)	(3,573		)	(32,051		)	1,435			—			(109,189		)
Balance, beginning of period	75,000			4,144			35,575			3,337			—			118,056
Balance, end of period	$	—		$	571		$	3,524		$	4,772		$	—		$	8,867