Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Aug. 01, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	SEAS
Entity Registrant Name	SeaWorld Entertainment, Inc.
Entity Central Index Key	0001564902
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		78,684,920
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-35883
Entity Tax Identification Number	271220297
Entity Address, Address Line One	9205 South Park Center Loop
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Orlando
Entity Address, State or Province	Florida
Entity Address, Postal Zip Code	32819
City Area Code	(407)
Local Phone Number	226-5011

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 43,601	$ 34,073
Accounts receivable, net	63,282	57,980
Inventories	43,219	35,814
Prepaid expenses and other current assets	18,219	18,700
Total current assets	168,321	146,567
Property and equipment, at cost	3,148,134	3,057,038
Accumulated depreciation	(1,426,625)	(1,365,006)
Property and equipment, net	1,721,509	1,692,032
Goodwill, net	66,278	66,278
Trade names/trademarks, net	157,609	158,343
Right of use assets-operating leases	144,634
Other intangible assets, net	523	14,120
Deferred tax assets, net	22,931	23,527
Other assets, net	14,329	14,735
Total assets	2,296,134	2,115,602
Current liabilities:
Accounts payable and accrued expenses	132,952	120,024
Current maturities of long-term debt, including revolving credit facility of $145,000 and $30,000 as of June 30, 2019 and December 31, 2018, respectively	160,505	45,505
Operating lease obligations	4,105
Accrued salaries, wages and benefits	14,750	20,966
Deferred revenue	163,140	101,110
Other accrued liabilities	20,808	23,066
Total current liabilities	496,260	310,671
Long-term debt, net of debt issuance costs of $5,782 and $6,641 as of June 30, 2019 and December 31, 2018, respectively	1,488,700	1,494,679
Long-term operating lease obligations	127,099
Deferred tax liabilities, net	13,768	10,711
Other liabilities	38,759	34,347
Total liabilities	2,164,586	1,850,408
Commitments and contingencies (Note 11)
Stockholders’ Equity:
Preferred stock, $0.01 par value—authorized, 100,000,000 shares, no shares issued or outstanding at June 30, 2019 and December 31, 2018
Common stock, $0.01 par value—authorized, 1,000,000,000 shares; 93,884,971 and 93,400,929 shares issued at June 30, 2019 and December 31, 2018, respectively	939	934
Additional paid-in capital	669,482	663,834
Accumulated other comprehensive (loss) income	(2,646)	2,284
Accumulated deficit	(133,324)	(148,955)
Treasury stock, at cost (15,790,463 and 10,174,589 shares at June 30, 2019 and December 31, 2018, respectively)	(402,903)	(252,903)
Total stockholders’ equity	131,548	265,194
Total liabilities and stockholders’ equity	$ 2,296,134	$ 2,115,602

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Long-term debt	$ 1,660,636	$ 1,553,389
Debt issuance costs	$ 5,782	$ 6,641
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	93,884,971	93,400,929
Treasury stock, shares	15,790,463	10,174,589
Revolving Credit Facility [Member]
Long-term debt	$ 145,000	$ 30,000

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net revenues:
Total revenues	$ 405,992	$ 391,921	$ 626,567	$ 609,087
Costs and expenses:
Cost of food, merchandise and other revenues	32,006	31,899	49,219	48,950
Operating expenses (exclusive of depreciation and amortization shown separately below)	170,398	190,100	320,283	345,573
Selling, general and administrative expenses	67,205	71,003	109,969	134,527
Restructuring and other separation costs	66	3,691	2,632	12,526
Depreciation and amortization	40,053	40,018	79,503	78,448
Total costs and expenses	309,728	336,711	561,606	620,024
Operating income (loss)	96,264	55,210	64,961	(10,937)
Other (income) expense, net	(79)	(42)	(52)	21
Interest expense	21,803	20,561	42,600	40,474
Income (loss) before income taxes	74,540	34,691	22,413	(51,432)
Provision for (benefit from) income taxes	21,889	11,994	6,782	(11,285)
Net income (loss)	52,651	22,697	15,631	(40,147)
Other comprehensive income (loss):
Unrealized (loss) gain on derivatives, net of tax	(2,866)	2,476	(4,930)	9,967
Comprehensive income (loss)	$ 49,785	$ 25,173	$ 10,701	$ (30,180)
Earnings (loss) per share:
Earnings (loss) per share, basic	$ 0.65	$ 0.26	$ 0.19	$ (0.47)
Earnings (loss) per share, diluted	$ 0.64	$ 0.26	$ 0.19	$ (0.47)
Weighted average common shares outstanding:
Basic	81,520	86,399	82,432	86,305
Diluted	82,167	86,885	83,216	86,305
Admissions [Member]
Net revenues:
Total revenues	$ 227,828	$ 225,806	$ 356,741	$ 355,809
Food, Merchandise and Other [Member]
Net revenues:
Total revenues	$ 178,164	$ 166,115	$ 269,826	$ 253,278

Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock, at Cost [Member]
Beginning Balance at Dec. 31, 2017	$ 287,466	$ 926	$ 641,324	$ (194,837)	$ (5,076)	$ (154,871)
Beginning Balance, shares at Dec. 31, 2017		92,637,403
Impact of adoption of ASU 2018-02				1,094	(1,094)
Equity-based compensation	7,545		7,545
Unrealized gain (loss) on derivatives, net of tax	7,491				7,491
Vesting of restricted shares		$ 4	(4)
Vesting of restricted shares, shares		360,092
Shares withheld for tax withholdings	(1,634)	$ (1)	(1,633)
Shares withheld for tax withholdings, shares		(108,432)
Exercise of stock options	7		7
Exercise of stock options, shares		484
Adjustments to previous dividend declarations	47		47
Net income (Loss)	(62,844)			(62,844)
Ending Balance at Mar. 31, 2018	238,078	$ 929	647,286	(256,587)	1,321	(154,871)
Ending Balance, shares at Mar. 31, 2018		92,889,547
Beginning Balance at Dec. 31, 2017	287,466	$ 926	641,324	(194,837)	(5,076)	(154,871)
Beginning Balance, shares at Dec. 31, 2017		92,637,403
Net income (Loss)	(40,147)
Ending Balance at Jun. 30, 2018	269,681	$ 931	653,714	(233,890)	3,797	(154,871)
Ending Balance, shares at Jun. 30, 2018		93,060,175
Beginning Balance at Mar. 31, 2018	238,078	$ 929	647,286	(256,587)	1,321	(154,871)
Beginning Balance, shares at Mar. 31, 2018		92,889,547
Equity-based compensation	5,892		5,892
Unrealized gain (loss) on derivatives, net of tax	2,476				2,476
Vesting of restricted shares		$ 1	(1)
Vesting of restricted shares, shares		135,114
Shares withheld for tax withholdings	(635)		(635)
Shares withheld for tax withholdings, shares		(28,592)
Exercise of stock options	1,178	$ 1	1,177
Exercise of stock options, shares		64,106
Adjustments to previous dividend declarations	(5)		(5)
Net income (Loss)	22,697			22,697
Ending Balance at Jun. 30, 2018	269,681	$ 931	653,714	(233,890)	3,797	(154,871)
Ending Balance, shares at Jun. 30, 2018		93,060,175
Beginning Balance at Dec. 31, 2018	$ 265,194	$ 934	663,834	(148,955)	2,284	(252,903)
Beginning Balance, shares at Dec. 31, 2018	93,400,929	93,400,929
Equity-based compensation	$ 3,198		3,198
Unrealized gain (loss) on derivatives, net of tax	(2,064)				(2,064)
Vesting of restricted shares		$ 4	(4)
Vesting of restricted shares, shares		440,646
Shares withheld for tax withholdings	(3,606)	$ (1)	(3,605)
Shares withheld for tax withholdings, shares		(132,886)
Exercise of stock options	715		715
Exercise of stock options, shares		39,928
Adjustments to previous dividend declarations	3		3
Net income (Loss)	(37,020)			(37,020)
Ending Balance at Mar. 31, 2019	226,420	$ 937	664,141	(185,975)	220	(252,903)
Ending Balance, shares at Mar. 31, 2019		93,748,617
Beginning Balance at Dec. 31, 2018	$ 265,194	$ 934	663,834	(148,955)	2,284	(252,903)
Beginning Balance, shares at Dec. 31, 2018	93,400,929	93,400,929
Exercise of stock options, shares	131,176
Net income (Loss)	$ 15,631
Ending Balance at Jun. 30, 2019	$ 131,548	$ 939	669,482	(133,324)	(2,646)	(402,903)
Ending Balance, shares at Jun. 30, 2019	93,884,971	93,884,971
Beginning Balance at Mar. 31, 2019	$ 226,420	$ 937	664,141	(185,975)	220	(252,903)
Beginning Balance, shares at Mar. 31, 2019		93,748,617
Equity-based compensation	4,084		4,084
Unrealized gain (loss) on derivatives, net of tax	(2,866)				(2,866)
Vesting of restricted shares		$ 1	(1)
Vesting of restricted shares, shares		57,642
Shares withheld for tax withholdings	(362)		(362)
Shares withheld for tax withholdings, shares		(12,536)
Exercise of stock options	1,620	$ 1	1,619
Exercise of stock options, shares		91,248
Adjustments to previous dividend declarations	1		1
Repurchase of treasury shares	(150,000)					(150,000)
Net income (Loss)	52,651			52,651
Ending Balance at Jun. 30, 2019	$ 131,548	$ 939	$ 669,482	$ (133,324)	$ (2,646)	$ (402,903)
Ending Balance, shares at Jun. 30, 2019	93,884,971	93,884,971

Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Repurchase of treasury shares, shares	5,615,874
Accumulated Other Comprehensive Income (Loss) [Member]
Unrealized loss on derivatives, tax (benefit) expense	$ (1,055)	$ (744)	$ 918	$ 2,774

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows From Operating Activities:
Net income (loss)	$ 15,631	$ (40,147)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	79,503	78,448
Amortization of debt issuance costs and discounts	1,773	2,311
Loss on sale or disposal of assets, net	550	7,651
Deferred income tax provision (benefit)	5,463	(11,823)
Equity-based compensation	7,282	13,437
Changes in assets and liabilities:
Accounts receivable	(7,033)	(43,858)
Inventories	(7,399)	(8,882)
Prepaid expenses and other current assets	976	(558)
Accounts payable and accrued expenses	15,167	22,487
Accrued salaries, wages and benefits	(6,216)	7,783
Deferred revenue	64,052	87,724
Other accrued liabilities	(2,989)	13,050
Right-of-use assets and operating lease obligations	263
Other assets and liabilities	363	(809)
Net cash provided by operating activities	167,386	126,814
Cash Flows From Investing Activities:
Capital expenditures	(112,738)	(97,372)
Other investing activities	(52)	(477)
Net cash used in investing activities	(112,790)	(97,849)
Cash Flows From Financing Activities:
Repayments of long-term debt	(7,753)	(11,854)
Proceeds from draws on revolving credit facility	219,000	55,000
Repayments of revolving credit facility	(104,000)	(70,000)
Purchase of treasury stock	(150,000)
Payment of tax withholdings on equity-based compensation through shares withheld	(3,968)	(2,269)
Exercise of stock options	2,335	1,185
Other financing activities	(398)	(304)
Net cash used in financing activities	(44,784)	(28,242)
Change in Cash and Cash Equivalents, including Restricted Cash	9,812	723
Cash and Cash Equivalents, including Restricted Cash—Beginning of period	35,007	33,997
Cash and Cash Equivalents, including Restricted Cash—End of period	44,819	34,720
Supplemental Disclosure of Noncash Investing Activities:
Capital expenditures in accounts payable	$ 28,553	$ 32,715

Description of the Business and Basis of Presentation

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Description of the Business and Basis of Presentation

1. DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION

Description of the Business

SeaWorld Entertainment, Inc., through its wholly-owned subsidiary, SeaWorld Parks & Entertainment, Inc. (“SEA”) (collectively, the “Company”), owns and operates twelve theme parks within the United States. The Company operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California; and Busch Gardens theme parks in Tampa, Florida; and Williamsburg, Virginia. The Company operates water park attractions in Orlando, Florida (Aquatica); San Antonio, Texas (Aquatica); San Diego, California (Aquatica); Tampa, Florida (Adventure Island); and Williamsburg, Virginia (Water Country USA). The Company also operates a reservations-only theme park in Orlando, Florida (Discovery Cove) and a seasonal park in Langhorne, Pennsylvania (Sesame Place).

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K filed with the SEC. The unaudited condensed consolidated balance sheet as of December 31, 2018 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K.

In the opinion of management, such unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations for the year ending December 31, 2019 or any future period due to the seasonal nature of the Company’s operations. Based upon historical results, the Company typically generates its highest revenues in the second and third quarters of each year and incurs a net loss in the first and fourth quarters, in part because seven of its theme parks are only open for a portion of the year.

The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, including SEA. All intercompany accounts have been eliminated in consolidation.

Use of Estimates

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.

Segment Reporting

The Company maintains discrete financial information for each of its twelve theme parks, which is used by the Chief Operating Decision Maker (“CODM”), identified as the Chief Executive Officer, as a basis for allocating resources. Each theme park has been identified as an operating segment and meets the criteria for aggregation due to similar economic characteristics. In addition, all of the theme parks provide similar products and services and share similar processes for delivering services. The theme parks have a high degree of similarity in the workforces and target similar consumer groups. Accordingly, based on these economic and operational similarities and the way the CODM monitors and makes decisions affecting the operations, the Company has concluded that its operating segments may be aggregated and that it has one reportable segment.

Restricted Cash

Restricted cash is recorded in other current assets in the accompanying unaudited condensed consolidated balance sheets. Restricted cash consists primarily of funds received from strategic partners for use in approved marketing and promotional activities.

	June 30,		December 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	43,601	$	34,073
Restricted cash, included in other current assets		1,218		934
Total cash, cash equivalents and restricted cash	$	44,819	$	35,007

Property and Equipment—Net

During the three and six months ended June 30, 2018, the Company recorded approximately $7.3 million and $7.7 million, respectively, in asset write-offs primarily associated with certain rides and equipment.

Revenue Recognition

Admissions revenue primarily consists of single-day tickets, annual or season passes or other multi-day or multi-park admission products. For single-day tickets, the Company recognizes revenue at a point in time, upon admission to the park. Annual passes, season passes or other multi-day or multi-park passes allow guests access to specific parks over a specified time period. For these pass and multi-use products, revenue is deferred and recognized over the terms of the admission product based on estimated redemption rates for similar products and is adjusted periodically. The Company estimates a redemption rate using historical and forecasted growth rates and attendance trends by park for similar products. Attendance trends factor in seasonality and are adjusted based on actual trends periodically. Revenue is recognized on a pro-rata basis based on the estimated allocated selling price of the admission product. For multi-day admission products, revenue is allocated based on the number of visits included in the pass and recognized ratably based on each admission into the theme park.

Food, merchandise and other revenue primarily consists of culinary, merchandise and other in-park products and also includes other miscellaneous revenue which is not significant in the periods presented, including revenue related to the Company’s international agreements as discussed below. The Company recognizes revenue for food, merchandise and other in-park products when the related products or services are received by the guests. Certain admission products may also include bundled products at the time of purchase, such as culinary or merchandise items. The Company conducts an analysis of bundled products to identify separate distinct performance obligations that are material in the context of the contract. For those products that are determined to be distinct performance obligations and material in the context of the contract, the Company allocates a portion of the transaction price to each distinct performance obligation using each performance obligation’s standalone price. If the bundled product is related to a pass product and offered over time, revenue will be recognized over time accordingly.

Deferred revenue primarily includes revenue associated with pass products and contract liability balances related to licensing and international agreements collected in advance of the Company’s performance and expected to be recognized in future periods. At both June 30, 2019 and December 31, 2018, $10.0 million is included in other liabilities in the accompanying unaudited condensed consolidated balance sheets related to the Company’s international agreement, as discussed in the following section, which the Company expects to recognize over the term of the respective license agreement beginning when substantially all of the services have been performed, which is expected to be upon opening.

The following table reflects the Company’s deferred revenue balance as of June 30, 2019 and December 31, 2018:

	June 30,		December 31,
	2019		2018
	(In thousands)
Deferred revenue, including long-term portion	$	173,487	$	111,181
Less: Deferred revenue, long-term portion, included in other liabilities		10,347		10,071
Deferred revenue, short-term portion	$	163,140	$	101,110

International Agreements

The Company has received $10.0 million in deferred revenue recorded in other liabilities related to a nonrefundable payment received from a partner in connection with a potential project in the Middle East (the “Middle East Project”) to provide certain services pertaining to the planning and design of the Middle East Project, with funding received expected to offset internal expenses. Approximately $4.4 million and $3.8 million of costs incurred related to the Middle East Project are recorded in other assets in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018, respectively. The Company has recognized an asset for the costs incurred to fulfill the contract as the costs are specifically identifiable, enhance resources that will be used to satisfy performance obligations in the future and are expected to be recovered. The related deferred revenue and expense will begin to be recognized when substantially all of the services have been performed. The Company continually monitors performance on the contract and will make adjustments, if necessary. The Middle East Project is subject to various conditions, including, but not limited to, the parties completing the design development and there is no assurance that the Middle East Project will be completed or advance to the next stages.

In March 2017, the Company entered into a Park Exclusivity and Concept Design Agreement and a Center Concept and Preliminary Design Support Agreement (collectively, the “ZHG Agreements”) with Zhonghong Holding, Co. Ltd. (“Zhonghong Holding”), an affiliate of Zhonghong Zhuoye Group Co., Ltd. (“ZHG Group”), to provide design, support and advisory services for various potential projects and grant exclusive rights in China, Taiwan, Hong Kong and Macau through December 2019. In April 2019, the Company terminated the ZHG Agreements for non-payment of undisputed amounts owed. There were no amounts recorded as revenue related to the ZHG Agreements in the three months ended June 30, 2019. For the six months ended June 30, 2019, the Company recorded approximately $1.7 million, and for the three and six months ended June 30, 2018, the Company recorded approximately $1.3 million and $2.5 million, respectively, in food, merchandise and other revenue in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) related to the ZHG Agreements. See Note 10–Related-Party Transactions for further details.

Recent Accounting Pronouncements

6 Months Ended

Jun. 30, 2019

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Pronouncements

2. RECENT ACCOUNTING PRONOUNCEMENTS

The Company reviews new accounting pronouncements as they are issued or proposed by the Financial Accounting Standards Board (“FASB”).

Recently Implemented Accounting Standards

On January 1, 2019, the Company adopted Accounting Standards Codification (“ASC”) 842, Leases. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right of use assets and corresponding lease liabilities on the balance sheet. The new guidance requires the Company to continue to classify leases as either operating or financing, with classification affecting the pattern of expense recognition in the income statement. The Company is also required to disclose qualitative and quantitative information about leasing arrangements to enable financial statement users to assess the amount, timing and uncertainty of cash flows arising from leases. The Company adopted ASC 842 using a modified retrospective method that did not require the prior period information to be restated. ASC 842 also provides a number of optional provisions, known as practical expedients, which companies may elect to adopt to facilitate implementation. The Company elected a package of practical expedients which, among other items, precludes the Company from needing to reassess 1) whether any expired or existing contracts are or contain leases, 2) the lease classification of any expired or existing leases, and 3) initial direct costs for any existing leases. The Company elected not to implement the practical expedient related to hindsight to determine lease terms. Due to the implementation of selected practical expedients, there was no cumulative effect adjustment to beginning retained earnings. See Note 7–Leases for additional disclosures.

On January 1, 2019, the Company also adopted the following Accounting Standards Updates (“ASUs”) which had no material impact on its unaudited condensed consolidated financial statements or disclosures:

•

ASU 2018-09, Codification Improvements

•

ASU 2018-13, Fair Value Measurement (Topic 820)

•

ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract

•

ASU 2018-16, Derivatives and Hedging—Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes

During 2018, the Company adopted the following ASUs:

•

ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities - This ASU aims to improve reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and simplify the application of the hedge accounting guidance. For cash flow and net investment hedges existing as of the adoption date, the guidance requires a cumulative-effect adjustment as of the beginning of the fiscal year that an entity adopts the amendments; however, the presentation and disclosure guidance should be applied prospectively. The impact of the adoption was not material to the Company’s unaudited condensed consolidated financial statements; as a result, no cumulative effect adjustment to beginning retained earnings was required. See Note 8–Derivative Instruments and Hedging Activities for additional disclosure.

•

ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income - This ASU gives companies the option to reclassify to retained earnings any tax effects related to items in accumulated other comprehensive income or loss that are stranded due to the Tax Cuts and Jobs Act (the “Tax Act”). Companies are required to disclose whether or not they elected to reclassify the tax effects related to the Tax Act as well as their policy for releasing income tax effects from accumulated other comprehensive income or loss. The Company elected to early adopt the ASU on January 1, 2018 and applied the amendments in the period of adoption. As a result, the Company reclassified $1.1 million of “stranded” tax effects of the Tax Act from accumulated other comprehensive income (loss) to accumulated deficit in the accompanying unaudited condensed consolidated balance sheet and the accompanying unaudited condensed consolidated statements of changes in stockholders’ equity.

Earnings (Loss) per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings (Loss) per Share

3. EARNINGS (LOSS) PER SHARE

Earnings (loss) per share is computed as follows:

	For the Three Months Ended June 30,
	2019						2018
	Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings per share	$	52,651		81,520	$	0.65	$	22,697		86,399	$	0.26
Effect of dilutive incentive-based awards				647						486
Diluted earnings per share	$	52,651		82,167	$	0.64	$	22,697		86,885	$	0.26

	For the Six Months Ended June 30,
	2019						2018
	Net Income		Shares		Per Share Amount		Net Loss			Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings (loss) per share	$	15,631		82,432	$	0.19	$	(40,147	)		86,305	$	(0.47	)
Effect of dilutive incentive-based awards				784							—
Diluted earnings (loss) per share	$	15,631		83,216	$	0.19	$	(40,147	)		86,305	$	(0.47	)

In accordance with the Earnings Per Share Topic of the ASC, basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period (excluding treasury stock and unvested restricted stock awards). Unvested restricted stock awards are eligible to receive dividends, if any; however, dividend rights will be forfeited if the award does not vest. Accordingly, only vested shares of formerly restricted stock are included in the calculation of basic earnings (loss) per share. The weighted average number of repurchased shares during the period, if any, which are held as treasury stock, are excluded from shares of common stock outstanding.

Diluted earnings (loss) per share is determined using the treasury stock method based on the dilutive effect of unvested restricted stock awards and certain shares of common stock that are issuable upon exercise of stock options. During periods when the Company is in a net loss position, basic loss per share is the same as diluted loss per share as the effects of potentially dilutive securities are anti-dilutive due to the net loss. During the three and six months ended June 30, 2019, there were approximately 407,000 and 253,000 anti-dilutive shares of common stock excluded from the computation of diluted earnings per share, respectively, and approximately 2,023,000 during the three months ended June 30, 2018. During the six months ended June 30, 2018, there were approximately 3,882,000 potentially dilutive securities excluded from the computation of diluted loss per share due to the Company’s net loss in that period. The Company’s outstanding performance-vesting restricted awards of approximately 2,148,000 and 1,950,000 as of June 30, 2019 and 2018, respectively, are considered contingently issuable shares and are excluded from the calculation of diluted earnings (loss) per share until the performance measure criteria is met as of the end of the reporting period.

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

4. INCOME TAXES

Income tax expense or benefit is recognized based on the Company’s estimated annual effective tax rate which is based upon the tax rate expected for the full calendar year applied to the pretax income or loss of the interim period. The Company’s consolidated effective tax rate for the three and six months ended June 30, 2019 was 29.4% and 30.3%, respectively, and differs from the statutory federal income tax rate of 21% primarily due to state income taxes, a valuation allowance adjustment on state net operating loss carryforwards and other permanent items including equity-based compensation. Due to the uncertainty of realizing the benefit from the deferred tax asset recorded for certain state net operating loss carryforwards, the Company has recorded a valuation allowance of approximately $5.3 million and $2.8 million, net of federal tax benefit, on the deferred tax assets related to those state net operating losses as of June 30, 2019 and December 31, 2018, respectively.

The Company’s consolidated effective tax rate for the three and six months ended June 30, 2018 was 34.6% and 21.9%, respectively, and differs from the statutory federal income tax rate of 21% primarily due to state income taxes and other permanent items, including a nondeductible legal settlement and equity-based compensation.

The Company has determined that there are no positions currently taken that would rise to a level requiring an amount to be recorded or disclosed as an unrecognized tax benefit. If such positions do arise, it is the Company’s intent that any interest or penalty amount related to such positions will be recorded as a component of the income tax provision (benefit) in the applicable period.

Other Accrued Liabilities

6 Months Ended

Jun. 30, 2019

Payables And Accruals [Abstract]

Other Accrued Liabilities

5. OTHER ACCRUED LIABILITIES

Other accrued liabilities at June 30, 2019 and December 31, 2018, consisted of the following:

	June 30,		December 31,
	2019		2018
	(In thousands)
Accrued property taxes	$	7,134	$	—
Self-insurance reserve		7,203		6,895
Accrued interest		1,397		490
Other		5,074		15,681
Total other accrued expenses	$	20,808	$	23,066

As of December 31, 2018, other liabilities above included $11.5 million related to the EZPay plan lawsuit legal settlement, which was funded during the three months ended June 30, 2019. See further details in Note 11–Commitments and Contingencies.

Long-Term Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-Term Debt

6. LONG-TERM DEBT

Long-term debt as of June 30, 2019 and December 31, 2018 consisted of the following:

	June 30,			December 31,
	2019			2018
	(In thousands)
Term B-5 Loans (effective interest rate of 5.40% and 5.52% at June 30, 2019 and December 31, 2018, respectively)	$	1,515,636		$	1,523,389
Revolving credit facility (effective interest rate of 5.12% and 5.17% at June 30, 2019 and December 31, 2018, respectively)		145,000			30,000
Total long-term debt		1,660,636			1,553,389
Less: discounts		(5,649	)		(6,564	)
Less: debt issuance costs		(5,782	)		(6,641	)
Less: current maturities, including revolving credit facility		(160,505	)		(45,505	)
Total long-term debt, net	$	1,488,700		$	1,494,679

SEA is the borrower under the senior secured credit facilities as amended pursuant to a credit agreement dated as of December 1, 2009, as the same may be amended, restated, supplemented or modified from time to time (the “Senior Secured Credit Facilities”). On October 31, 2018, SEA entered into a refinancing amendment, Amendment No. 9 (the “Amended Credit Agreement”).

Senior Secured Credit Facilities

As of June 30, 2019, the Senior Secured Credit Facilities consisted of $1.516 billion in Term B-5 Loans which will mature on March 31, 2024 and a $210.0 million revolving credit facility (the “Revolving Credit Facility”), of which $145.0 million was outstanding as of June 30, 2019. The outstanding balance on the Revolving Credit Facility was included in current maturities of long-term debt in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018 due to the Company’s intent to repay the borrowings within the following twelve month period.

The Term B-5 Loans amortize in equal quarterly installments in an aggregate annual amount equal to 1.015% of the original principal amount of the Term B-5 Loans outstanding on the Effective Date, with the balance payable on the final maturity date. SEA may voluntarily repay amounts outstanding under the Senior Secured Credit Facilities at any time without premium or penalty, other than customary “breakage” costs with respect to LIBOR loans. SEA is also required to prepay the outstanding Term B-5 Loans, subject to certain exceptions, under certain circumstances, as defined in the Senior Secured Credit Facilities.

As of June 30, 2019, SEA had approximately $20.4 million of outstanding letters of credit and $145.0 million outstanding on its Revolving Credit Facility leaving approximately $44.6 million available for borrowing. Subsequent to June 30, 2019, SEA repaid $115.0 million on the Revolving Credit Facility.

Restrictive Covenants

The Senior Secured Credit Facilities contain a number of customary negative covenants. Such covenants, among other things, restrict, subject to certain exceptions, the ability of SEA and its restricted subsidiaries to incur additional indebtedness; make guarantees; create liens on assets; enter into sale and leaseback transactions; engage in mergers or consolidations; sell assets; make fundamental changes; pay dividends and distributions or repurchase SEA’s capital stock; make investments, loans and advances, including acquisitions; engage in certain transactions with affiliates; make changes in the nature of the business; and make prepayments of junior debt. All of the net assets of SEA and its consolidated subsidiaries are restricted and there are no unconsolidated subsidiaries of SEA.

The Amended Credit Agreement removed all previous financial covenants on the Term B-5 Loans. The Revolving Credit Facility requires that SEA comply with a springing maximum first lien secured leverage ratio of 6.25x to be tested as of the last day of any fiscal quarter, solely to the extent that on such date the aggregate amount of funded loans and letters of credit (excluding undrawn letters of credit in an amount not to exceed $30.0 million and cash collateralized letters of credit) under the Revolving Credit Facility exceeds an amount equal to 35% of the then outstanding commitments under the Revolving Credit Facility. Based on the outstanding Revolving Credit Facility balance as of June 30, 2019, SEA was required to comply with this financial covenant. As of June 30, 2019, SEA was in compliance with all covenants contained in the documents governing the Senior Secured Credit Facilities.

The Senior Secured Credit Facilities permit restricted payments in an aggregate amount per annum equal to the sum of (A) $25.0 million plus (B) an amount, if any, equal to (1) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment, is no greater than 3.50 to 1.00, an unlimited amount, (2) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment is no greater than 4.00 to 1.00 and greater than 3.50 to 1.00, the greater of (a) $95.0 million and (b) 7.50% of Market Capitalization (as defined in the Senior Secured Credit Facilities), (3) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment is no greater than 4.50 to 1.00 and greater than 4.00 to 1.00, $95.0 million and (4) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment is no greater than 5.00 to 1.00 and greater than 4.50 to 1.00, $65.0 million.

As of June 30, 2019, the total net leverage ratio as calculated under the Senior Secured Credit Facilities was 3.55 to 1.00, which results in the Company having approximately $200.0 million available capacity for restricted payments in 2019. During the six months ended June 30, 2019, the Company used approximately $150.0 million of its available restricted payments capacity for a share repurchase (see Note 10–Related-Party Transactions and Note 13–Stockholders’ Equity for further details). The available capacity for restricted payments is recalculated at the beginning of each quarter, or upon declaration of a restricted payment as set forth in the credit agreement.

Long-term debt at June 30, 2019 is repayable as follows, and does not include the impact of any future voluntary prepayments. The outstanding balance under the Revolving Credit Facility is included below based on the Company’s intent to repay the borrowings.

Years Ending December 31:	(In thousands)
Remainder of 2019	$	152,754
2020		15,505
2021		15,505
2022		15,505
2023		15,505
Thereafter		1,445,862
Total	$	1,660,636

Interest Rate Swap Agreements

As of June 30, 2019, the Company has five interest rate swap agreements (the “Interest Rate Swap Agreements”) which effectively fix the interest rate on the LIBOR-indexed interest payments associated with $1.0 billion of SEA’s outstanding long-term debt. The Interest Rate Swap Agreements became effective on September 30, 2016; have a total notional amount of $1.0 billion; mature on May 14, 2020; require the Company to pay a weighted-average fixed rate of 2.45% per annum; provide that the Company receives a variable rate of interest based upon the greater of 0.75% or the BBA LIBOR; and have interest settlement dates occurring on the last day of June, September, December and March through maturity.

SEA designated the Interest Rate Swap Agreements above as qualifying cash flow hedge accounting relationships as further discussed in Note 8–Derivative Instruments and Hedging Activities.

Cash paid for interest relating to the Senior Secured Credit Facilities and the Interest Rate Swap Agreements, net of amounts capitalized, as applicable, was $39.8 million and $43.7 million in the six months ended June 30, 2019 and 2018, respectively. Cash paid for interest in the six months ended June 30, 2018 includes $5.1 million relating to the Company’s fourth quarter 2017 interest payable on its Senior Secured Credit Facilities which was paid on January 5, 2018.

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

7. LEASES

The Company adopted ASC 842, Leases, as of January 1, 2019 using the modified retrospective approach and elected the “Comparatives Under 840 Option” allowing the Company to not recast comparative periods in the period of adoption but present those periods under historical requirements of ASC 840. The Company has land, warehouse and office space, and equipment leases which are classified as either operating or financing obligations.

Under the provisions of ASC 842, right of use assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the term of the operating lease.

The present value of future minimum lease payments is calculated using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate, which reflects the rate of interest the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. As most of the Company’s leases do not provide an implicit rate, the Company uses incremental borrowing rates based on the information available at commencement date in determining the present value of the lease payments. In calculating the incremental borrowing rates, the Company considered recent ratings from credit agencies, recent trading prices on the Company’s debt, and current lease demographic information. The Company used the incremental borrowing rates on December 31, 2018 for newly recognized operating leases that commenced prior to that date. The Company applies the incremental borrowing rates at a portfolio level based on lease terms.

The Company has elected not to recognize on the balance sheet leases with an initial and expected term of 12 months or less, instead lease expense is recognized for these short-term leases on a straight-line basis over the lease term. For lease agreements entered into or reassessed upon adoption of ASC 842, the Company has elected to combine lease and non-lease components for each class of underlying asset based on a practical expedient permitted under ASC 842.

Some of the Company’s leases include one or more options to renew, with renewal terms that can extend the lease term from one to 10 years or more. The exercise of lease renewal options is at the Company’s sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or a purchase option reasonably certain of exercise.

Certain of the Company’s lease agreements include rental payments based on a percentage of sales over contractual levels and others include rental payments adjusted periodically for inflation. These variable lease payments are typically recognized when the underlying event occurs and are included in operating expenses in the Company’s unaudited condensed consolidated statements of comprehensive income (loss) in the same line item as the expense arising from fixed lease payments. The Company’s lease agreements do not contain any material residual value guarantees, material restrictive covenants or material variable lease costs other than those described below related to the Company’s land lease.

The Company has a land lease which consists of a long-term lease with the City of San Diego covering approximately 190 acres, including approximately 17 acres of water in Mission Bay Park, California (the “Premises”). Under the terms of the lease, the Premises must be used as a marine park facility and related uses. In addition, the Company may not operate another marine park facility within a radius of 560 miles from the City of San Diego. The annual rent under the lease is variable and calculated on the basis of a specified percentage of the Company’s gross income from the Premises, or the minimum yearly rent, whichever is greater. The current lease term for the Premises ends in June 2048 with a corresponding lease liability being amortized using an estimated incremental borrowing rate of 8.2%. 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. The current minimum yearly rent is approximately $10.4 million, which is subject to adjustment on January 1, 2020. Actual payments may vary from the annual straight-line minimum base rent based on shift of seasonal performance results. Rent payments related to the Premises for the three and six months ended June 30, 2019 were approximately $3.0 million and $4.7 million, respectively. Upon adoption of ASC 842, the Company also reclassified a favorable lease asset net balance of approximately $14.0 million related to the Premises from other intangible assets, net, to right of use assets-operating in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2019.

The tables below present the lease balances and their classification in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018:

		June 30,
Leases	Classification	2019
Assets		(In thousands)
Operating leases	Right of use assets - operating	$	144,634
Financing leases	Other assets, net		3,806
Total lease assets		$	148,440
Liabilities
Current
Operating leases	Operating lease obligations	$	4,105
Financing leases	Other accrued liabilities		700
Noncurrent
Operating leases	Long-term operating lease obligations		127,099
Financing leases	Other liabilities		3,155
Total lease liabilities		$	135,059

		December 31,
Leases	Classification	2018
Assets		(In thousands)
Favorable lease asset	Other intangible assets, net	$	13,961
Capital leases	Property and equipment, at cost		3,066
Capital leases, accumulated depreciation	Accumulated depreciation		(122	)
Total lease assets		$	16,905
Liabilities
Current
Capital leases	Other accrued liabilities	$	143
Noncurrent
Capital leases	Other liabilities		2,822
Total lease liabilities		$	2,965

The table below presents the lease costs and their classification in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2019:

Lease Cost	Classification	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
		(In thousands)
Operating lease cost	Operating expenses	$	4,023	$	6,781
Operating lease cost	Selling, general and administrative expenses		136		273
Financing lease cost
Amortization of leased assets	Depreciation and amortization		184		368
Interest on lease liabilities	Interest expense		37		77
Net lease cost		$	4,380	$	7,499

In addition to the operating lease costs above, short term rent expense for the three and six months ended June 30, 2019 was approximately $1.1 million and $1.9 million, respectively, and is included in operating expenses and selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of comprehensive income (loss).

The table below presents the Company’s lease maturities as of June 30, 2019:

	Operating leases
Years Ending December 31,	Land lease			Other operating leases			Total operating leases			Financing leases
	(In thousands)
Remainder of 2019	$	5,201		$	2,029		$	7,230		$	413
2020		10,401			3,843			14,244			825
2021		10,401			3,494			13,895			332
2022		10,401			2,497			12,898			208
2023		10,401			1,954			12,355			204
2024		10,401			1,740			12,141			201
Thereafter		244,431			2,993			247,424			2,593
Total lease payments		301,637			18,550			320,187			4,776
Less: Imputed interest		(185,865	)		(3,118	)		(188,983	)		(921	)
Present value of lease liabilities	$	115,772		$	15,432		$	131,204		$	3,855

Operating lease payments include approximately $7.2 million related to options to extend lease terms that are reasonably certain of being exercised.

The table below presents the future minimum lease payments for long-term non-cancellable operating and financing leases under ASC 840 as of December 31, 2018:

Years Ending December 31,	Operating leases		Financing leases
	(In thousands)
2019	$	16,578	$	231
2020		14,179		226
2021		13,111		220
2022		11,416		208
2023		10,479		204
Thereafter		265,234		2,794
Total lease payments	$	330,997		3,883
Less: Interest				(918	)
Total principal payable on financing leases			$	2,965

The table below presents the weighted average remaining lease terms and applicable discount rates as of June 30, 2019:

Lease term and discount rate
Weighted average remaining lease term (years)
Operating leases	26.29
Financing leases	14.35
Weighted average discount rate
Operating leases	8.11	%
Financing leases	3.67	%

The table below presents the cash flows and supplemental information associated with the Company’s leasing activities for the six months ended June 30, 2019:

Other Information
Cash paid for amounts included in the measurement of lease liabilities	(In thousands)
Operating cash flows from operating leases	$	6,793
Operating cash flows from financing leases	$	77
Financing cash flows from financing leases	$	339
Right of use assets obtained in exchange for lease obligations
Financing leases	$	1,230
Operating leases	$	133,297

All long-lived assets, including right of use assets associated with leases, are reviewed for impairment upon the occurrence of events or changes in circumstances that would indicate that the carrying value of the assets may not be recoverable. The measurement of an impairment loss to be recognized is based upon the difference between the estimated fair value and the carrying amounts of the assets. Fair value is generally determined based upon a discounted cash flow analysis.

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

8. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk primarily by managing the amount, sources and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s borrowings. The Company does not speculate using derivative instruments.

As of June 30, 2019 and December 31, 2018, the Company did not have any derivatives outstanding that were not designated in hedge accounting relationships.

Cash Flow Hedges of Interest Rate Risk

The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. During the three and six months ended June 30, 2019 and 2018, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt.

As of June 30, 2019, the Company has five Interest Rate Swap Agreements that mature on May 14, 2020, which effectively fix the interest rate on LIBOR-indexed interest payments associated with $1.0 billion of SEA’s outstanding long-term debt.

The interest rate swap agreements are designated as cash flow hedges of interest rate risk. The changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable-rate debt. During the next 12 months, the Company estimates that an additional $3.7 million will be reclassified as an increase to interest expense.

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018:

Liability Derivatives

Asset Derivatives

As of June 30, 2019

As of December 31, 2018

Balance Sheet

Location

Fair Value

Balance Sheet

Location

Fair Value

Derivatives designated as hedging instruments:

(In thousands)

Interest rate swap agreements

Other liabilities

$

3,619

Other assets

$

3,109

Tabular Disclosure of the Effect of Derivative Instruments on the Statements of Comprehensive Income (Loss)

The table below presents the pretax effect of the Company’s derivative financial instruments on the unaudited condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Derivatives in Cash Flow Hedging Relationships:	(In thousands)
(Loss) gain recognized in accumulated other comprehensive income (loss)	$	(3,572	)	$	3,777		$	(5,525	)	$	15,893
Loss reclassified from accumulated other comprehensive income (loss) to interest expense	$	(349	)	$	(383	)	$	(1,204	)	$	(2,234	)

Credit Risk-Related Contingent Features

The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. As of June 30, 2019, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $3.7 million. As of June 30, 2019, the Company has posted no collateral related to these agreements. If the Company had breached any of these provisions at June 30, 2019, it could have been required to settle its obligations under the agreements at their termination value of $3.7 million.

Changes in Accumulated Other Comprehensive Income (Loss)

The following table reflects the changes in accumulated other comprehensive income (loss), net of tax for the six months ended June 30, 2019:

	Losses on Cash Flow Hedges
Accumulated other comprehensive income (loss):	(In thousands)
Accumulated other comprehensive income at December 31, 2018				$	2,284
Other comprehensive loss before reclassifications		(4,048	)
Amounts reclassified from accumulated other comprehensive income (loss) to interest expense		(882	)
Unrealized loss on derivatives, net of tax					(4,930	)
Accumulated other comprehensive loss at June 30, 2019				$	(2,646	)

Fair Value Measurements

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

9. FAIR VALUE MEASUREMENTS

Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement is required to be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, fair value accounting standards establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices for identical instruments in active markets.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.

Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The Company has determined that the majority of the inputs used to value its derivative financial instruments using the income approach fall within Level 2 of the fair value hierarchy. The Company uses readily available market data to value its derivatives, such as interest rate curves and discount factors. ASC 820, Fair Value Measurement, also requires consideration of credit risk in the valuation. The Company uses a potential future exposure model to estimate this credit valuation adjustment (“CVA”). The inputs to the CVA are largely based on observable market data, with the exception of certain assumptions regarding credit worthiness which make the CVA a Level 3 input. Based on the magnitude of the CVA, it is not considered a significant input and the derivatives are classified as Level 2. Of the Company’s long-term obligations, the Term B-5 Loans are classified in Level 2 of the fair value hierarchy as of June 30, 2019 and December 31, 2018. The fair value of the term loans as of June 30, 2019 and December 31, 2018 approximate their carrying value, excluding unamortized debt issuance costs and discounts, due to the variable nature of the underlying interest rates and the frequent intervals at which such interest rates are reset.

There were no transfers between Levels 1, 2 or 3 during the three and six months ended June 30, 2019. The Company did not have any assets measured on a recurring basis at fair value as of June 30, 2019. The following table presents the Company’s estimated fair value measurements and related classifications for liabilities measured on a recurring basis as of June 30, 2019:

	Quoted Prices in
	Active Markets		Significant
	for Identical		Other		Significant
	Assets and		Observable		Unobservable		Balance at
	Liabilities		Inputs		Inputs		June 30,
	(Level 1)		(Level 2)		(Level 3)		2019
Liabilities:	(In thousands)
Derivative financial instruments ^(a)	$	—	$	3,619	$	—	$	3,619
Long-term obligations ^(b)	$	—	$	1,660,636	$	—	$	1,660,636

(a)	Reflected at fair value in the unaudited condensed consolidated balance sheet as other liabilities of $3.6 million as of June 30, 2019.

(b)	Reflected at carrying value, net of unamortized debt issuance costs and discounts, in the unaudited condensed consolidated balance sheet as current maturities of long-term debt of $160.5 million and long-term debt of $1.489 billion as of June 30, 2019.

There were no transfers between Levels 1, 2 or 3 during the year ended December 31, 2018. The following table presents the Company’s estimated fair value measurements and related classifications for assets and liabilities measured on a recurring basis as of December 31, 2018:

	Quoted Prices in
	Active Markets		Significant
	for Identical		Other		Significant
	Assets and		Observable		Unobservable		Balance at
	Liabilities		Inputs		Inputs		December 31,
	(Level 1)		(Level 2)		(Level 3)		2018
Assets:	(In thousands)
Derivative financial instruments ^(a)	$	—	$	3,109	$	—	$	3,109
Liabilities:
Long-term obligations ^(b)	$	—	$	1,553,389	$	—	$	1,553,389

(a)	Reflected at fair value in the unaudited condensed consolidated balance sheet as other assets of $3.1 million as of December 31, 2018.

(b)	Reflected at carrying value, net of unamortized debt issuance costs and discounts, in the unaudited condensed consolidated balance sheet as current maturities of long-term debt of $45.5 million and long-term debt of $1.495 billion as of December 31, 2018.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related-Party Transactions

6 Months Ended

Jun. 30, 2019

Related-Party Transactions

10. RELATED-PARTY TRANSACTIONS

On March 24, 2017, the Company entered into the ZHG Agreements with Zhonghong Holding, an affiliate of ZHG Group, who at the time owned approximately 21% of the outstanding shares of the Company. In April 2019, the Company terminated the ZHG Agreements for non-payment of undisputed amounts owed. See Note 1–Description of Business and Basis of Presentation for further details including amounts recorded as revenue related to the ZHG Agreements.

As previously disclosed, Sun Wise (UK), Co., Ltd, an affiliate to the ZHG Group (“Sun Wise”), previously held beneficial ownership of 19,452,063 shares (the “Pledged Shares”) of the Company’s common stock. Sun Wise had pledged such shares in connection with certain loan obligations of Sun Wise. Sun Wise subsequently defaulted on such loan obligations and, as a result, PA Eminent Opportunity VI Limited (a controlled affiliate of PAG (f/k/a Pacific Alliance Group)) and China Huarong International Holdings Limited (together, the “Lenders”) foreclosed on the Pledged Shares and, accordingly, the Pledged Shares were transferred to Lord Central Opportunity V Limited, (the “Security Agent”), as security agent for the Lenders on May 3, 2019 (the “Transfer”).

On May 27, 2019, the Security Agent entered into a share repurchase agreement with the Company pursuant to which the Security Agent agreed to sell and the Company agreed to purchase 5,615,874 of the Pledged Shares held by the Security Agent at a price per share equal to $26.71 (the “SEAS Repurchase”) for a total cost of approximately $150.0 million. The SEAS Repurchase closed on May 30, 2019.

On May 27, 2019, the Security Agent also entered into a stock purchase agreement with Hill Path Capital LP (“Hill Path”) and certain of its affiliates pursuant to which the Security Agent agreed to sell and certain affiliates of Hill Path agreed to purchase, in the aggregate, 13,214,000 of the Pledged Shares held by the Security Agent at a price per share equal to $26.71 (the “HP Purchase”). The purchase closed on May 30, 2019, at which time, Hill Path’s ownership percentage increased to 34.6%.

Also on May 27, 2019, in connection with the HP Purchase, the Company concurrently entered into a stockholders agreement, a registration rights agreement and an undertaking agreement with Hill Path (the “HP Agreements”). Under the HP Agreements, the Company agreed to appoint up to three Hill Path director designees to its Board of Directors and Hill Path agreed to certain customary standstill obligations, restrictions regarding the manner of sale of shares, and equal treatment for any change in control transaction. In addition, Hill Path agreed that shares held in excess of 24.9% generally would be voted consistent with the Board’s recommendations or consistent with the shares voted by the Company’s other stockholders. The Company also agreed to reimburse Hill Path for up to $250,000 of their expenses in connection with the HP Agreements. During the three months ended June 30, 2019, the Company reimbursed Hill Path for $250,000 in expenses incurred.

See Note 13–Stockholder’s Equity for further details.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

11. COMMITMENTS AND CONTINGENCIES

Legal Proceedings

Securities Class Action Lawsuits

On September 9, 2014, a purported stockholder class action lawsuit consisting of purchasers of the Company’s common stock during the periods between April 18, 2013 to August 13, 2014, captioned Baker v. SeaWorld Entertainment, Inc., et al., Case No. 14-CV-02129-MMA (KSC), was filed in the U.S. District Court for the Southern District of California against the Company, the Chairman of the Company’s Board, certain of its executive officers and Blackstone. On February 27, 2015, Court-appointed Lead Plaintiffs, Pensionskassen For Børne- Og Ungdomspædagoger and Arkansas Public Employees Retirement System, together with additional plaintiffs, Oklahoma City Employee Retirement System and Pembroke Pines Firefighters and Police Officers Pension Fund (collectively, “Plaintiffs”), filed an amended complaint against the Company, the Chairman of the Company’s Board, certain of its directors, certain of its executive officers, Blackstone, and underwriters of the initial public offering and secondary public offerings. The amended complaint alleges, among other things, that the prospectus and registration statements filed contained materially false and misleading information in violation of the federal securities laws and seeks unspecified compensatory damages and other relief. Plaintiffs contend that defendants knew or were reckless in not knowing that Blackfish was impacting SeaWorld’s business at the time of each public statement. On May 29, 2015, the Company and the other defendants filed motions to dismiss the amended complaint. On March 31, 2016, the Court granted the motions to dismiss the amended complaint, in its entirety, without prejudice. On May 31, 2016, Plaintiffs filed a second amended consolidated class action complaint (“Second Amended Complaint”), which, among other things, no longer names the Company’s Board or underwriters as defendants and no longer brings claims based on the prospectuses and registration statements. On September 30, 2016, the Court denied the renewed motion to dismiss the Second Amended Complaint.

On May 19, 2017, Plaintiffs filed a motion for class certification, which the Court granted on November 29, 2017. On December 13, 2017, Defendants filed a petition for permission to appeal the Court’s class certification order with the United States Court of Appeals for the Ninth Circuit, which was denied on June 28, 2018. Discovery is now complete and, on April 15, 2019, Defendants filed a motion for summary judgment. Also on April 15, 2019, Defendants filed motions to exclude each of Plaintiffs’ three expert witnesses and Plaintiffs filed motions to exclude two of Defendants’ expert witnesses. The briefing on the motions is complete. The date for oral argument was adjourned and has not yet been rescheduled. Trial is currently scheduled to begin on January 21, 2020. The Company believes that the class action lawsuit is without merit and intends to defend the lawsuit vigorously; however, there can be no assurance regarding the ultimate outcome of this lawsuit.

On June 14, 2018, a lawsuit captioned Highfields Capital I LP et al v. SeaWorld Entertainment, Inc. et al, Case No. 3:18-cv-01276-L-BLM, was filed in the United States District Court in the Southern District of California against the Company and certain of the Company’s former and present executive officers (collectively, the “Defendants”). The plaintiffs, which are investment funds managed by a common adviser (collectively, the “Plaintiffs”) allege, among other things, that the Defendants made false and misleading statements, in violation of the federal securities laws and Florida common law, regarding the impact of the documentary Blackfish on SeaWorld’s business. The complaint further alleges that such statements were made to induce Plaintiffs to purchase common stock of the Company at artificially-inflated prices and that Plaintiffs suffered investment losses as a result. The Plaintiffs are seeking unspecified compensatory damages and other relief. On October 19, 2018, Defendants moved for partial dismissal of the complaint. On February 7, 2019, the Court granted Defendants’ motion and dismissed Plaintiffs’ Florida state law claims as well as federal securities law claims based on the Company’s second quarter 2013 earnings statements. On May 1, 2019, Defendants filed their answer to Plaintiffs’ complaint. On July 1, 2019, the parties filed a joint motion for a stay of all proceedings in the case pending the resolution of the motion for summary judgment filed by Defendants in the related securities class action captioned Baker v. SeaWorld Entertainment, Inc., et al. described above. The Company believes that the lawsuit is without merit and intends to defend the lawsuit vigorously; however, there can be no assurance regarding the ultimate outcome of this lawsuit.

Shareholder Derivative Lawsuit

On December 8, 2014, a putative derivative lawsuit captioned Kistenmacher v. Atchison, et al., Civil Action No. 10437, was filed in the Court of Chancery of the State of Delaware against, among others, the Chairman of the Company’s Board, certain of the Company’s executive officers, directors and shareholders, and Blackstone. The Company is a “Nominal Defendant” in the lawsuit.

On March 30, 2015, the plaintiff filed an amended complaint against the same set of defendants. The amended complaint alleges, among other things, that the defendants breached their fiduciary duties, aided and abetted breaches of fiduciary duties, violated Florida Blue Sky laws and were unjustly enriched by (i) including materially false and misleading information in the prospectus and registration statements; and (ii) causing the Company to repurchase certain shares of its common stock from certain shareholders at an alleged artificially inflated price. The Company does not maintain any direct exposure to loss in connection with this shareholder derivative lawsuit as the lawsuit does not assert any claims against the Company. The Company’s status as a “Nominal Defendant” in the action reflects the fact that the lawsuit is maintained by the named plaintiff on behalf of the Company and that the plaintiff seeks damages on the Company’s behalf. The case is currently stayed in favor of the securities class action captioned Baker v. SeaWorld Entertainment, Inc., et al. described above.

Consumer Lawsuit

On April 13, 2015, a purported class action was filed in the Superior Court of the State of California for the City and County of San Francisco against SeaWorld Parks & Entertainment, Inc., captioned Marc Anderson, et. al., v. SeaWorld Parks & Entertainment, Inc. Civil Case No. 15-cv-02172-JSW, (the “Anderson Matter”). The putative class consisted of all consumers within California who, within the past four years, purchased tickets to SeaWorld San Diego. The complaint (as amended) alleges causes of action under the California False Advertising Law, California Unfair Competition Law and California CLRA. Plaintiffs’ claims are based on their allegations that the Company misrepresented the physical living conditions and care and treatment of its orcas, resulting in confusion or misunderstanding among ticket and orca plush purchasers with intent to deceive and mislead the plaintiffs and purported class members. The complaint seeks restitution, equitable relief, attorneys’ fees and costs. Based on plaintiffs’ definition of the class, the amount in controversy could have exceeded $5.0 million assuming the class became certified. The liability exposure is speculative though. On May 14, 2015, the Company removed the case to the United States District Court for the Northern District of California.

The Company filed a motion for summary judgment on October 30, 2017 which the Court granted in part and denied in part. On May 23, 2018, the plaintiffs represented to the Court that they will not file a motion for class certification. The case is no longer a class action. All three named plaintiffs continue to have claims for individual restitution in a nominal amount and injunctive relief. Trial is currently scheduled for April 2020. Pre-trial motions and mediation proceedings are continuing. The Company believes that the lawsuit is without merit and intends to defend the lawsuit vigorously; however, there can be no assurance regarding the ultimate outcome of this lawsuit.

EZPay Plan Class Action Lawsuit

On December 3, 2014, a purported class action lawsuit was filed in the United States District Court for the Middle District of Florida, Tampa Division against SeaWorld Parks & Entertainment, Inc. The case, captioned Jason Herman, Joey Kratt, and Christina Lancaster, as individuals and on behalf of all others similarly situated, v. SeaWorld Parks & Entertainment, Inc. Case No. 8:14-cv-03028-MSS-JSS, was certified as a class action in 2018. The Court certified a class action on two claims for relief -- breach of contract and violation of federal Electronic Funds Transfer Act, 15 U.S.C. section 1693 et seq. on behalf of three individual plaintiffs and two classes: (i) individuals in the states of Florida, Texas, Virginia and California who paid for an annual pass through EZ pay in “less than twelve months,” had their passes automatically renewed and did not use the renewed passes after the first year or were not issued a full refund of payments made after the twelfth payment; and (ii) all of these same individuals who used debit cards.

In April 2018, the Company reached a preliminary agreement in principle to settle this matter for a payment of $11.5 million into a common fund, plus certain administrative costs and expenses associated with the proposed settlement. At a fairness hearing held April 18, 2019, the Court approved the settlement. On April 29, 2019, the Court entered an order approving the final settlement. The Company has funded the $11.5 million settlement and is working with a class action administrator to facilitate the settlement in accordance with the terms of the settlement agreement.

Other Matters

The Company is a party to various other claims and legal proceedings arising in the normal course of business. In addition, from time to time the Company is subject to audits, inspections and investigations by, or receives requests for information from, various federal and state regulatory agencies, including, but not limited to, the U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (“APHIS”), the U.S. Department of Labor’s Occupational Safety and Health Administration (“OSHA”), the California Occupational Safety and Health Administration (“Cal-OSHA”), the Florida Fish & Wildlife Commission (“FWC”), the Equal Employment Opportunity Commission (“EEOC”), the Internal Revenue Service (“IRS”) the U.S. Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”).

Other than those matters discussed above, from time to time, various parties also bring other lawsuits against the Company. Matters where an unfavorable outcome to the Company is probable and which can be reasonably estimated are accrued. Such accruals, which are not material for any period presented, are based on information known about the matters, the Company’s estimate of the outcomes of such matters, and the Company’s experience in contesting, litigating and settling similar matters. Matters that are considered reasonably possible to result in a material loss are not accrued for, but an estimate of the possible loss or range of loss is disclosed, if such amount or range can be determined. At this time, management does not expect any such known claims, legal proceedings or regulatory matters to have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

License Commitments

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.

Pursuant to the License Agreement with Sesame Workshop, the Company pays a specified annual license fee, as well as a specified royalty based on revenues earned in connection with sales of licensed products, all food and beverage items utilizing the licensed elements and any events utilizing such elements if a separate fee is paid for such event.

Anheuser-Busch, Incorporated has granted the Company a perpetual, exclusive, worldwide, royalty-free license to use the Busch Gardens trademark and certain related domain names in connection with the operation, marketing, promotion and advertising of certain of the Company’s theme parks, as well as in connection with the production, use, distribution and sale of merchandise sold in connection with such theme parks. Under the license, the Company is required to indemnify ABI against losses related to the use of the marks.

Equity-Based Compensation

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity-Based Compensation

12. EQUITY-BASED COMPENSATION

In accordance with ASC 718, Compensation-Stock Compensation, the Company measures the cost of employee services rendered in exchange for share-based compensation based upon the grant date fair market value. The cost is recognized over the requisite service period, which is generally the vesting period unless service or performance conditions require otherwise. The Company recognizes the impact of forfeitures as they occur. The Company has granted stock options, time-vesting restricted shares and units and performance-vesting restricted shares and units.

Equity compensation expense is included in operating expenses and in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
	(In thousands)
Equity compensation expense included in operating expenses	$	676	$	2,667	$	2,033	$	4,230
Equity compensation expense included in selling, general and administrative expenses		3,408		3,225		5,249		9,207
Total equity compensation expense	$	4,084	$	5,892	$	7,282	$	13,437

Equity compensation expense included in selling, general and administrative expenses for the three and six months ended June 30, 2018, includes approximately $1.0 million and $5.5 million, respectively, related to certain equity awards which were accelerated to vest in connection with the departure of certain executives as required by their respective employment agreements (see Note 14–Restructuring and Other Separation Costs for further details).

The activity related to the Company’s time-vesting and performance-vesting awards during the six months ended June 30, 2019 is as follows:

						Performance-Vesting Restricted Awards
	Time-Vesting Restricted Awards					Bonus Performance Restricted Awards					Long-Term Incentive Performance Restricted Awards
	Shares/Units			Weighted Average Grant Date Fair Value per Award		Units			Weighted Average Grant Date Fair Value per Award		Shares/Units			Weighted Average Grant Date Fair Value per Award
Outstanding at December 31, 2018		901,704		$	17.34		560,710		$	15.06		1,155,486		$	15.82
Granted		72,078		$	27.02		225,080		$	25.70		1,233,742		$	25.70
Vested		(144,340	)	$	18.75		(321,715	)	$	15.05		(32,233	)	$	15.36
Forfeited		(155,723	)	$	15.15		(259,814	)	$	15.93		(413,384	)	$	19.20
Outstanding at June 30, 2019		673,719		$	18.57		204,261		$	25.70		1,943,611		$	21.38

The activity related to the Company’s stock option awards during the six months ended June 30, 2019 is as follows:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018		764,577		$	18.05
Granted		430,390		$	25.70
Forfeited		(92,095	)	$	20.97
Expired		(8,593	)	$	18.52
Exercised		(131,176	)	$	17.80
Outstanding at June 30, 2019		963,103		$	21.22		7.67	$	9,417
Exercisable at June 30, 2019		464,385		$	18.38		6.21	$	5,859

The weighted average grant date fair value of stock options granted during the six months ended June 30, 2019 was $8.45. Key weighted-average assumptions utilized in the Black-Scholes Option Pricing Model for stock options granted during the six months ended June 30, 2019 were:

Risk-free interest rate	2.48	%
Expected volatility ^(a)	28.50	%
Expected dividend yield	0.00	%
Expected life (years) ^(b)	6.00

(a)	^{Due to the Company’s limited history as a public company, the volatility for the Company’s stock at the date of each grant was estimated using the average volatility calculated for a peer group, which is based upon daily price observations over the estimated term of options granted.}

(b)	The expected life was estimated using the simplified method, as the Company does not have sufficient historical exercise data due to the limited period of time its common stock has been publicly traded.

Omnibus Incentive Plan

The Company has reserved 15,000,000 shares of common stock for issuance under the Omnibus Incentive Plan (the “Omnibus Incentive Plan”), of which approximately 8,710,000 shares are available for future issuance as of June 30, 2019.

Bonus Performance Restricted Awards

During the six months ended June 30, 2019, the Company granted performance-vesting restricted units (the “Bonus Performance Restricted Units”) in accordance with its annual bonus plan for 2019 (the “2019 Bonus Plan”). The 2019 Bonus Plan provides for bonus awards payable 50% in cash and 50% in Bonus Performance Restricted Units and is based upon the Company’s achievement of specified performance goals, as defined by the 2019 Bonus Plan, with respect to the year ending December 31, 2019 (the “Fiscal 2019”). The total number of units eligible to vest into shares of stock is based on the level of achievement of the targets for Fiscal 2019 which ranges from 0% (if below threshold performance) up to 200% (at or above maximum performance).

The Company also had an annual bonus plan for the fiscal year ended December 31, 2018 (“Fiscal 2018”), under which certain employees were eligible to vest in Bonus Performance Restricted Units based upon the Company’s achievement of certain performance goals with respect to Fiscal 2018. Based on the Company’s actual Fiscal 2018 results, a portion of these Bonus Performance Restricted Units vested in the six months ended June 30, 2019 and the remaining forfeited in accordance with their terms.

Long-Term Incentive Awards

During the six months ended June 30, 2019, the Company granted long-term incentive plan awards for 2019 (the “2019 Long-Term Incentive Grant”) which were comprised of nonqualified stock options (the “Long-Term Incentive Options”) and performance-vesting restricted units (the “Long-Term Incentive Performance Restricted Units”) (collectively, the “Long-Term Incentive Awards”). Long-Term Incentive Awards for 2019, 2020 and 2021 combined were granted to certain employees during the six months ended June 30, 2019. The Company does not expect additional Long-Term Incentive Awards to be granted to these employees until the earlier of 2022 or in the year when the Company’s three-year performance goal is achieved, if sooner than fiscal year 2021.

Long-Term Incentive Options

Long-Term Incentive Options vest over three years, with one-third vesting on each anniversary of the date of grant, subject to continued employment through the applicable vesting date. Equity compensation expense for these options is recognized using the straight line method.

Long-Term Incentive Performance Restricted Units

The Long-Term Incentive Performance Restricted Units have a three-year performance period beginning on January 1, 2019 and ending on December 31, 2021 and vest based upon the Company’s achievement of specified performance goals for Fiscal 2021, as defined by the 2019 Long-Term Incentive Grant. The total number of Long-Term Incentive Performance Restricted Units eligible to vest will be based on the level of achievement of the performance goals and ranges from 0% (if below threshold performance) up to 100% (for target or above performance). Upon achievement of the performance goals, only 50% of the award for a given level of performance will vest, with the remaining 50% subject to a one-year performance test period. The goal achieved must be met again or exceeded the next fiscal year before the remaining units are earned.

Long-Term Incentive Time Restricted Units

During the six months ended June 30, 2019, the Company also granted time-restricted units which vest over three years to certain employees, with one-third vesting on each anniversary of the date of grant, subject to continued employment through the applicable vesting date. Equity compensation expense is recognized using the straight line method.

Other

The Company also has outstanding long-term incentive time restricted shares, long-term incentive performance restricted shares and long-term incentive options granted under previous long-term incentive plan grants. During the six months ended June 30, 2019, a portion of the previously granted long-term incentive performance restricted shares related to completed performance periods vested, with the remainder forfeiting in accordance with their terms. The remaining outstanding long-term incentive performance restricted shares are eligible to vest based upon the Company’s achievement of pre-established performance goals for the respective performance period, as defined.

The Company recognizes equity compensation expense for its performance-vesting restricted awards if the performance condition is probable of being achieved. Based on the Company’s progress towards its respective performance goals, a portion of its performance-vesting restricted awards are considered probable of vesting as of June 30, 2019; therefore, equity compensation expense has been recorded accordingly. If the probability of vesting related to these awards changes in a subsequent period, all equity compensation expense related to those awards that would have been recorded over the requisite service period had the awards been considered probable at the new percentage from inception, will be recorded as a cumulative catch-up or adjustment at such subsequent date.

Stockholders' Equity

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Stockholders' Equity

13. STOCKHOLDERS’ EQUITY

As of June 30, 2019, 93,884,971 shares of common stock were issued in the accompanying unaudited condensed consolidated balance sheet, which excludes 581,013 unvested shares of common stock and 2,240,578 unvested restricted stock units held by certain participants in the Company’s equity compensation plans (see Note 12–Equity-Based Compensation) and includes 15,790,463 shares of treasury stock held by the Company.

Share Repurchase Program

The Board had previously authorized a share repurchase program of up to $250.0 million of the Company’s common stock (the “Share Repurchase Program”). Under the Share Repurchase Program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Exchange Act. Through December 31, 2018, the Company had repurchased an aggregate of $158.0 million under the Share Repurchase Program. On February 22, 2019, the Board approved a replenishment to the Share Repurchase Program bringing the total amount available for future purchases back up to $250.0 million.

During the three months ended June 30, 2019, the Company completed a share repurchase of 5,615,874 shares (see discussion relating to the SEAS Repurchase in Note 10–Related Party Transactions for further details). On August 2, 2019, the Board approved a replenishment to the Share Repurchase Program of $150.0 million, bringing the total amount authorized for future share repurchases back up to $250.0 million. There were no share repurchases under the Share Repurchase Program during the three and six month ended June 30, 2018.

The Share Repurchase Program has no time limit and may be suspended or discontinued completely at any time. The number of shares to be purchased and the timing of purchases will be based on the Company’s trading windows and available liquidity, general business and market conditions, and other factors, including legal requirements, debt covenant restrictions and alternative investment opportunities.

Restructuring and Other Separation Costs

6 Months Ended

Jun. 30, 2019

Restructuring And Related Activities [Abstract]

Restructuring and Other Separation Costs

14. RESTRUCTURING AND OTHER SEPARATION COSTS

The Company is committed to continuous improvement and regularly evaluates operations to ensure it is properly organized for performance and efficiency. As a result, during the three and six months ended June 30, 2019, the Company recorded approximately $0.1 million and $2.6 million, respectively, in pre-tax charges primarily consisting of severance and other termination benefits related to positions eliminated in 2019, which is included in restructuring and other separation costs in the accompanying unaudited condensed consolidated statements of comprehensive income (loss).

In August 2018, the Company announced a restructuring program (the “2018 Restructuring Program”) focused on reducing costs, improving operating margins and streamlining its management structure to create efficiencies and better align with its strategic business objectives. The 2018 Restructuring Program involved the elimination of approximately 125 positions during the third quarter of 2018 across the Company’s theme parks and its corporate headquarters. As a result, during the year ended December 31, 2018, the Company recorded approximately $5.5 million in pre-tax restructuring charges primarily related to severance and other termination benefits, of which, $1.8 million was incurred during the three and six months ended June 30, 2018, which is included in restructuring and other separation costs in the accompanying unaudited condensed consolidated statements of comprehensive income (loss). The Company will not incur any additional costs associated with the 2018 Restructuring Program in 2019 as all continuing service obligations were completed as of December 31, 2018.

Related activity for the six months ended June 30, 2019 was as follows:

	2019 Restructuring and other Separation Costs			2018 Restructuring Program
	(In thousands)
Liability as of December 31, 2018	$	—		$	537
Costs incurred		2,632			—
Payments made		(2,481	)		(330	)
Liability as of June 30, 2019	$	151		$	207

The remaining liability as of June 30, 2019 relates to restructuring and other related costs to be paid as contractually obligated by December 31, 2019 and is included in accrued salaries, wages and benefits in the accompanying unaudited condensed consolidated balance sheet.

Other

For the three and six months ended June 30, 2018, restructuring and other separation costs also includes severance and other employment expenses for certain executives who separated from the Company during 2018. In particular, on February 27, 2018, the Company announced that its President and Chief Executive Officer (the “Former CEO”) had stepped down from his position and resigned as a member of the Board. In connection with his departure, the Former CEO received a lump sum cash payment of approximately $6.7 million in severance-related benefits, in accordance with his employment agreement. Certain other executives who separated from the Company during the first six months of 2018 also received severance-related benefits in accordance with the terms of their respective employment agreements or relevant company plan, as applicable. These severance expenses are included in restructuring and other separation costs in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2018.

Additionally, during the three and six months ended June 30, 2018, certain equity awards were accelerated to vest in connection with the departure of specific executives as required by their respective employment agreements. As a result, the Company recorded incremental non-cash equity compensation expense during the three and six months ended June 30, 2018 related to these awards, which is included in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of comprehensive income (loss). See Note 12–Equity-Based Compensation for further details.

Description of the Business and Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Description of the Business

SeaWorld Entertainment, Inc., through its wholly-owned subsidiary, SeaWorld Parks & Entertainment, Inc. (“SEA”) (collectively, the “Company”), owns and operates twelve theme parks within the United States. The Company operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California; and Busch Gardens theme parks in Tampa, Florida; and Williamsburg, Virginia. The Company operates water park attractions in Orlando, Florida (Aquatica); San Antonio, Texas (Aquatica); San Diego, California (Aquatica); Tampa, Florida (Adventure Island); and Williamsburg, Virginia (Water Country USA). The Company also operates a reservations-only theme park in Orlando, Florida (Discovery Cove) and a seasonal park in Langhorne, Pennsylvania (Sesame Place).

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K filed with the SEC. The unaudited condensed consolidated balance sheet as of December 31, 2018 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K.

In the opinion of management, such unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, but are not necessarily indicative of the results of operations for the year ending December 31, 2019 or any future period due to the seasonal nature of the Company’s operations. Based upon historical results, the Company typically generates its highest revenues in the second and third quarters of each year and incurs a net loss in the first and fourth quarters, in part because seven of its theme parks are only open for a portion of the year.

The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, including SEA. All intercompany accounts have been eliminated in consolidation.

Use of Estimates

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.

Segment Reporting

The Company maintains discrete financial information for each of its twelve theme parks, which is used by the Chief Operating Decision Maker (“CODM”), identified as the Chief Executive Officer, as a basis for allocating resources. Each theme park has been identified as an operating segment and meets the criteria for aggregation due to similar economic characteristics. In addition, all of the theme parks provide similar products and services and share similar processes for delivering services. The theme parks have a high degree of similarity in the workforces and target similar consumer groups. Accordingly, based on these economic and operational similarities and the way the CODM monitors and makes decisions affecting the operations, the Company has concluded that its operating segments may be aggregated and that it has one reportable segment.

Restricted Cash

Restricted cash is recorded in other current assets in the accompanying unaudited condensed consolidated balance sheets. Restricted cash consists primarily of funds received from strategic partners for use in approved marketing and promotional activities.

	June 30,		December 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	43,601	$	34,073
Restricted cash, included in other current assets		1,218		934
Total cash, cash equivalents and restricted cash	$	44,819	$	35,007

Property and Equipment-Net

Property and Equipment—Net

During the three and six months ended June 30, 2018, the Company recorded approximately $7.3 million and $7.7 million, respectively, in asset write-offs primarily associated with certain rides and equipment.

Revenue Recognition

Admissions revenue primarily consists of single-day tickets, annual or season passes or other multi-day or multi-park admission products. For single-day tickets, the Company recognizes revenue at a point in time, upon admission to the park. Annual passes, season passes or other multi-day or multi-park passes allow guests access to specific parks over a specified time period. For these pass and multi-use products, revenue is deferred and recognized over the terms of the admission product based on estimated redemption rates for similar products and is adjusted periodically. The Company estimates a redemption rate using historical and forecasted growth rates and attendance trends by park for similar products. Attendance trends factor in seasonality and are adjusted based on actual trends periodically. Revenue is recognized on a pro-rata basis based on the estimated allocated selling price of the admission product. For multi-day admission products, revenue is allocated based on the number of visits included in the pass and recognized ratably based on each admission into the theme park.

Food, merchandise and other revenue primarily consists of culinary, merchandise and other in-park products and also includes other miscellaneous revenue which is not significant in the periods presented, including revenue related to the Company’s international agreements as discussed below. The Company recognizes revenue for food, merchandise and other in-park products when the related products or services are received by the guests. Certain admission products may also include bundled products at the time of purchase, such as culinary or merchandise items. The Company conducts an analysis of bundled products to identify separate distinct performance obligations that are material in the context of the contract. For those products that are determined to be distinct performance obligations and material in the context of the contract, the Company allocates a portion of the transaction price to each distinct performance obligation using each performance obligation’s standalone price. If the bundled product is related to a pass product and offered over time, revenue will be recognized over time accordingly.

Deferred revenue primarily includes revenue associated with pass products and contract liability balances related to licensing and international agreements collected in advance of the Company’s performance and expected to be recognized in future periods. At both June 30, 2019 and December 31, 2018, $10.0 million is included in other liabilities in the accompanying unaudited condensed consolidated balance sheets related to the Company’s international agreement, as discussed in the following section, which the Company expects to recognize over the term of the respective license agreement beginning when substantially all of the services have been performed, which is expected to be upon opening.

The following table reflects the Company’s deferred revenue balance as of June 30, 2019 and December 31, 2018:

	June 30,		December 31,
	2019		2018
	(In thousands)
Deferred revenue, including long-term portion	$	173,487	$	111,181
Less: Deferred revenue, long-term portion, included in other liabilities		10,347		10,071
Deferred revenue, short-term portion	$	163,140	$	101,110

International Agreements

The Company has received $10.0 million in deferred revenue recorded in other liabilities related to a nonrefundable payment received from a partner in connection with a potential project in the Middle East (the “Middle East Project”) to provide certain services pertaining to the planning and design of the Middle East Project, with funding received expected to offset internal expenses. Approximately $4.4 million and $3.8 million of costs incurred related to the Middle East Project are recorded in other assets in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018, respectively. The Company has recognized an asset for the costs incurred to fulfill the contract as the costs are specifically identifiable, enhance resources that will be used to satisfy performance obligations in the future and are expected to be recovered. The related deferred revenue and expense will begin to be recognized when substantially all of the services have been performed. The Company continually monitors performance on the contract and will make adjustments, if necessary. The Middle East Project is subject to various conditions, including, but not limited to, the parties completing the design development and there is no assurance that the Middle East Project will be completed or advance to the next stages.

In March 2017, the Company entered into a Park Exclusivity and Concept Design Agreement and a Center Concept and Preliminary Design Support Agreement (collectively, the “ZHG Agreements”) with Zhonghong Holding, Co. Ltd. (“Zhonghong Holding”), an affiliate of Zhonghong Zhuoye Group Co., Ltd. (“ZHG Group”), to provide design, support and advisory services for various potential projects and grant exclusive rights in China, Taiwan, Hong Kong and Macau through December 2019. In April 2019, the Company terminated the ZHG Agreements for non-payment of undisputed amounts owed. There were no amounts recorded as revenue related to the ZHG Agreements in the three months ended June 30, 2019. For the six months ended June 30, 2019, the Company recorded approximately $1.7 million, and for the three and six months ended June 30, 2018, the Company recorded approximately $1.3 million and $2.5 million, respectively, in food, merchandise and other revenue in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) related to the ZHG Agreements. See Note 10–Related-Party Transactions for further details.

Recently Issued Accounting Pronouncements

The Company reviews new accounting pronouncements as they are issued or proposed by the Financial Accounting Standards Board (“FASB”).

Recently Implemented Accounting Standards

On January 1, 2019, the Company adopted Accounting Standards Codification (“ASC”) 842, Leases. The new standard is intended to provide enhanced transparency and comparability by requiring lessees to record right of use assets and corresponding lease liabilities on the balance sheet. The new guidance requires the Company to continue to classify leases as either operating or financing, with classification affecting the pattern of expense recognition in the income statement. The Company is also required to disclose qualitative and quantitative information about leasing arrangements to enable financial statement users to assess the amount, timing and uncertainty of cash flows arising from leases. The Company adopted ASC 842 using a modified retrospective method that did not require the prior period information to be restated. ASC 842 also provides a number of optional provisions, known as practical expedients, which companies may elect to adopt to facilitate implementation. The Company elected a package of practical expedients which, among other items, precludes the Company from needing to reassess 1) whether any expired or existing contracts are or contain leases, 2) the lease classification of any expired or existing leases, and 3) initial direct costs for any existing leases. The Company elected not to implement the practical expedient related to hindsight to determine lease terms. Due to the implementation of selected practical expedients, there was no cumulative effect adjustment to beginning retained earnings. See Note 7–Leases for additional disclosures.

On January 1, 2019, the Company also adopted the following Accounting Standards Updates (“ASUs”) which had no material impact on its unaudited condensed consolidated financial statements or disclosures:

•

ASU 2018-09, Codification Improvements

•

ASU 2018-13, Fair Value Measurement (Topic 820)

•

ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract

•

ASU 2018-16, Derivatives and Hedging—Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes

During 2018, the Company adopted the following ASUs:

•

ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities - This ASU aims to improve reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and simplify the application of the hedge accounting guidance. For cash flow and net investment hedges existing as of the adoption date, the guidance requires a cumulative-effect adjustment as of the beginning of the fiscal year that an entity adopts the amendments; however, the presentation and disclosure guidance should be applied prospectively. The impact of the adoption was not material to the Company’s unaudited condensed consolidated financial statements; as a result, no cumulative effect adjustment to beginning retained earnings was required. See Note 8–Derivative Instruments and Hedging Activities for additional disclosure.

•

ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income - This ASU gives companies the option to reclassify to retained earnings any tax effects related to items in accumulated other comprehensive income or loss that are stranded due to the Tax Cuts and Jobs Act (the “Tax Act”). Companies are required to disclose whether or not they elected to reclassify the tax effects related to the Tax Act as well as their policy for releasing income tax effects from accumulated other comprehensive income or loss. The Company elected to early adopt the ASU on January 1, 2018 and applied the amendments in the period of adoption. As a result, the Company reclassified $1.1 million of “stranded” tax effects of the Tax Act from accumulated other comprehensive income (loss) to accumulated deficit in the accompanying unaudited condensed consolidated balance sheet and the accompanying unaudited condensed consolidated statements of changes in stockholders’ equity.

Leases

The Company adopted ASC 842, Leases, as of January 1, 2019 using the modified retrospective approach and elected the “Comparatives Under 840 Option” allowing the Company to not recast comparative periods in the period of adoption but present those periods under historical requirements of ASC 840. The Company has land, warehouse and office space, and equipment leases which are classified as either operating or financing obligations.

Under the provisions of ASC 842, right of use assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. Lease terms may include options to renew when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the term of the operating lease.

The present value of future minimum lease payments is calculated using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate, which reflects the rate of interest the Company would pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. As most of the Company’s leases do not provide an implicit rate, the Company uses incremental borrowing rates based on the information available at commencement date in determining the present value of the lease payments. In calculating the incremental borrowing rates, the Company considered recent ratings from credit agencies, recent trading prices on the Company’s debt, and current lease demographic information. The Company used the incremental borrowing rates on December 31, 2018 for newly recognized operating leases that commenced prior to that date. The Company applies the incremental borrowing rates at a portfolio level based on lease terms.

The Company has elected not to recognize on the balance sheet leases with an initial and expected term of 12 months or less, instead lease expense is recognized for these short-term leases on a straight-line basis over the lease term. For lease agreements entered into or reassessed upon adoption of ASC 842, the Company has elected to combine lease and non-lease components for each class of underlying asset based on a practical expedient permitted under ASC 842.

Fair Value Measurements

Fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement is required to be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, fair value accounting standards establish a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices for identical instruments in active markets.

Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.

Level 3 – Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The Company has determined that the majority of the inputs used to value its derivative financial instruments using the income approach fall within Level 2 of the fair value hierarchy. The Company uses readily available market data to value its derivatives, such as interest rate curves and discount factors. ASC 820, Fair Value Measurement, also requires consideration of credit risk in the valuation. The Company uses a potential future exposure model to estimate this credit valuation adjustment (“CVA”). The inputs to the CVA are largely based on observable market data, with the exception of certain assumptions regarding credit worthiness which make the CVA a Level 3 input. Based on the magnitude of the CVA, it is not considered a significant input and the derivatives are classified as Level 2. Of the Company’s long-term obligations, the Term B-5 Loans are classified in Level 2 of the fair value hierarchy as of June 30, 2019 and December 31, 2018. The fair value of the term loans as of June 30, 2019 and December 31, 2018 approximate their carrying value, excluding unamortized debt issuance costs and discounts, due to the variable nature of the underlying interest rates and the frequent intervals at which such interest rates are reset.

Equity-Based Compensation

In accordance with ASC 718, Compensation-Stock Compensation, the Company measures the cost of employee services rendered in exchange for share-based compensation based upon the grant date fair market value. The cost is recognized over the requisite service period, which is generally the vesting period unless service or performance conditions require otherwise. The Company recognizes the impact of forfeitures as they occur. The Company has granted stock options, time-vesting restricted shares and units and performance-vesting restricted shares and units.

Description of the Business and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule Of Cash Cash Equivalents And Restricted Cash

Restricted cash is recorded in other current assets in the accompanying unaudited condensed consolidated balance sheets. Restricted cash consists primarily of funds received from strategic partners for use in approved marketing and promotional activities.

	June 30,		December 31,
	2019		2018
	(In thousands)
Cash and cash equivalents	$	43,601	$	34,073
Restricted cash, included in other current assets		1,218		934
Total cash, cash equivalents and restricted cash	$	44,819	$	35,007

Deferred Revenue Balances

The following table reflects the Company’s deferred revenue balance as of June 30, 2019 and December 31, 2018:

	June 30,		December 31,
	2019		2018
	(In thousands)
Deferred revenue, including long-term portion	$	173,487	$	111,181
Less: Deferred revenue, long-term portion, included in other liabilities		10,347		10,071
Deferred revenue, short-term portion	$	163,140	$	101,110

Earnings (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) per Share

Earnings (loss) per share is computed as follows:

	For the Three Months Ended June 30,
	2019						2018
	Net Income		Shares		Per Share Amount		Net Income		Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings per share	$	52,651		81,520	$	0.65	$	22,697		86,399	$	0.26
Effect of dilutive incentive-based awards				647						486
Diluted earnings per share	$	52,651		82,167	$	0.64	$	22,697		86,885	$	0.26

	For the Six Months Ended June 30,
	2019						2018
	Net Income		Shares		Per Share Amount		Net Loss			Shares		Per Share Amount
	(In thousands, except per share amounts)
Basic earnings (loss) per share	$	15,631		82,432	$	0.19	$	(40,147	)		86,305	$	(0.47	)
Effect of dilutive incentive-based awards				784							—
Diluted earnings (loss) per share	$	15,631		83,216	$	0.19	$	(40,147	)		86,305	$	(0.47	)

Other Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Payables And Accruals [Abstract]

Schedule of Other Accrued Liabilities

Other accrued liabilities at June 30, 2019 and December 31, 2018, consisted of the following:

	June 30,		December 31,
	2019		2018
	(In thousands)
Accrued property taxes	$	7,134	$	—
Self-insurance reserve		7,203		6,895
Accrued interest		1,397		490
Other		5,074		15,681
Total other accrued expenses	$	20,808	$	23,066

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Summary of Long-Term Debt

Long-term debt as of June 30, 2019 and December 31, 2018 consisted of the following:

	June 30,			December 31,
	2019			2018
	(In thousands)
Term B-5 Loans (effective interest rate of 5.40% and 5.52% at June 30, 2019 and December 31, 2018, respectively)	$	1,515,636		$	1,523,389
Revolving credit facility (effective interest rate of 5.12% and 5.17% at June 30, 2019 and December 31, 2018, respectively)		145,000			30,000
Total long-term debt		1,660,636			1,553,389
Less: discounts		(5,649	)		(6,564	)
Less: debt issuance costs		(5,782	)		(6,641	)
Less: current maturities, including revolving credit facility		(160,505	)		(45,505	)
Total long-term debt, net	$	1,488,700		$	1,494,679

Summary of Long-Term Debt Repayable

Long-term debt at June 30, 2019 is repayable as follows, and does not include the impact of any future voluntary prepayments. The outstanding balance under the Revolving Credit Facility is included below based on the Company’s intent to repay the borrowings.

Years Ending December 31:	(In thousands)
Remainder of 2019	$	152,754
2020		15,505
2021		15,505
2022		15,505
2023		15,505
Thereafter		1,445,862
Total	$	1,660,636

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
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-Paragraph 1
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Schedule of Lease Balances and Classification on Unaudited Condensed Consolidated Balance Sheet

The tables below present the lease balances and their classification in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018:

		June 30,
Leases	Classification	2019
Assets		(In thousands)
Operating leases	Right of use assets - operating	$	144,634
Financing leases	Other assets, net		3,806
Total lease assets		$	148,440
Liabilities
Current
Operating leases	Operating lease obligations	$	4,105
Financing leases	Other accrued liabilities		700
Noncurrent
Operating leases	Long-term operating lease obligations		127,099
Financing leases	Other liabilities		3,155
Total lease liabilities		$	135,059

		December 31,
Leases	Classification	2018
Assets		(In thousands)
Favorable lease asset	Other intangible assets, net	$	13,961
Capital leases	Property and equipment, at cost		3,066
Capital leases, accumulated depreciation	Accumulated depreciation		(122	)
Total lease assets		$	16,905
Liabilities
Current
Capital leases	Other accrued liabilities	$	143
Noncurrent
Capital leases	Other liabilities		2,822
Total lease liabilities		$	2,965

Schedule of Lease Costs and Classification on Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss)

The table below presents the lease costs and their classification in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2019:

Lease Cost	Classification	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
		(In thousands)
Operating lease cost	Operating expenses	$	4,023	$	6,781
Operating lease cost	Selling, general and administrative expenses		136		273
Financing lease cost
Amortization of leased assets	Depreciation and amortization		184		368
Interest on lease liabilities	Interest expense		37		77
Net lease cost		$	4,380	$	7,499

Schedule of Lease Maturities

The table below presents the Company’s lease maturities as of June 30, 2019:

	Operating leases
Years Ending December 31,	Land lease			Other operating leases			Total operating leases			Financing leases
	(In thousands)
Remainder of 2019	$	5,201		$	2,029		$	7,230		$	413
2020		10,401			3,843			14,244			825
2021		10,401			3,494			13,895			332
2022		10,401			2,497			12,898			208
2023		10,401			1,954			12,355			204
2024		10,401			1,740			12,141			201
Thereafter		244,431			2,993			247,424			2,593
Total lease payments		301,637			18,550			320,187			4,776
Less: Imputed interest		(185,865	)		(3,118	)		(188,983	)		(921	)
Present value of lease liabilities	$	115,772		$	15,432		$	131,204		$	3,855

Schedule of Future Minimum Lease Payments For Long-Term Non-Cancellable Operating and Financing Leases Under ASC 840

The table below presents the future minimum lease payments for long-term non-cancellable operating and financing leases under ASC 840 as of December 31, 2018:

Years Ending December 31,	Operating leases		Financing leases
	(In thousands)
2019	$	16,578	$	231
2020		14,179		226
2021		13,111		220
2022		11,416		208
2023		10,479		204
Thereafter		265,234		2,794
Total lease payments	$	330,997		3,883
Less: Interest				(918	)
Total principal payable on financing leases			$	2,965

Schedule of Weighted Average Remaining Lease Terms and Applicable Discount Rates

The table below presents the weighted average remaining lease terms and applicable discount rates as of June 30, 2019:

Lease term and discount rate
Weighted average remaining lease term (years)
Operating leases	26.29
Financing leases	14.35
Weighted average discount rate
Operating leases	8.11	%
Financing leases	3.67	%

Schedule of Cash Flows and Supplemental Information Associated with Leasing Activities

The table below presents the cash flows and supplemental information associated with the Company’s leasing activities for the six months ended June 30, 2019:

Other Information
Cash paid for amounts included in the measurement of lease liabilities	(In thousands)
Operating cash flows from operating leases	$	6,793
Operating cash flows from financing leases	$	77
Financing cash flows from financing leases	$	339
Right of use assets obtained in exchange for lease obligations
Financing leases	$	1,230
Operating leases	$	133,297

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Value of Company's Derivative Financial Instruments Classification on Unaudited Condensed Consolidated Balance Sheets

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the unaudited condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018:

Liability Derivatives

Asset Derivatives

As of June 30, 2019

As of December 31, 2018

Balance Sheet

Location

Fair Value

Balance Sheet

Location

Fair Value

Derivatives designated as hedging instruments:

(In thousands)

Interest rate swap agreements

Other liabilities

$

3,619

Other assets

$

3,109

Schedule of Pre-tax Effect of Derivative Financial Instruments on Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss)

Tabular Disclosure of the Effect of Derivative Instruments on the Statements of Comprehensive Income (Loss)

The table below presents the pretax effect of the Company’s derivative financial instruments on the unaudited condensed consolidated statements of comprehensive income (loss) for the three and six months ended June 30, 2019 and 2018:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Derivatives in Cash Flow Hedging Relationships:	(In thousands)
(Loss) gain recognized in accumulated other comprehensive income (loss)	$	(3,572	)	$	3,777		$	(5,525	)	$	15,893
Loss reclassified from accumulated other comprehensive income (loss) to interest expense	$	(349	)	$	(383	)	$	(1,204	)	$	(2,234	)

Schedule of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax

Changes in Accumulated Other Comprehensive Income (Loss)

The following table reflects the changes in accumulated other comprehensive income (loss), net of tax for the six months ended June 30, 2019:

	Losses on Cash Flow Hedges
Accumulated other comprehensive income (loss):	(In thousands)
Accumulated other comprehensive income at December 31, 2018				$	2,284
Other comprehensive loss before reclassifications		(4,048	)
Amounts reclassified from accumulated other comprehensive income (loss) to interest expense		(882	)
Unrealized loss on derivatives, net of tax					(4,930	)
Accumulated other comprehensive loss at June 30, 2019				$	(2,646	)

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

There were no transfers between Levels 1, 2 or 3 during the three and six months ended June 30, 2019. The Company did not have any assets measured on a recurring basis at fair value as of June 30, 2019. The following table presents the Company’s estimated fair value measurements and related classifications for liabilities measured on a recurring basis as of June 30, 2019:

	Quoted Prices in
	Active Markets		Significant
	for Identical		Other		Significant
	Assets and		Observable		Unobservable		Balance at
	Liabilities		Inputs		Inputs		June 30,
	(Level 1)		(Level 2)		(Level 3)		2019
Liabilities:	(In thousands)
Derivative financial instruments ^(a)	$	—	$	3,619	$	—	$	3,619
Long-term obligations ^(b)	$	—	$	1,660,636	$	—	$	1,660,636

(a)	Reflected at fair value in the unaudited condensed consolidated balance sheet as other liabilities of $3.6 million as of June 30, 2019.

(b)	Reflected at carrying value, net of unamortized debt issuance costs and discounts, in the unaudited condensed consolidated balance sheet as current maturities of long-term debt of $160.5 million and long-term debt of $1.489 billion as of June 30, 2019.

There were no transfers between Levels 1, 2 or 3 during the year ended December 31, 2018. The following table presents the Company’s estimated fair value measurements and related classifications for assets and liabilities measured on a recurring basis as of December 31, 2018:

	Quoted Prices in
	Active Markets		Significant
	for Identical		Other		Significant
	Assets and		Observable		Unobservable		Balance at
	Liabilities		Inputs		Inputs		December 31,
	(Level 1)		(Level 2)		(Level 3)		2018
Assets:	(In thousands)
Derivative financial instruments ^(a)	$	—	$	3,109	$	—	$	3,109
Liabilities:
Long-term obligations ^(b)	$	—	$	1,553,389	$	—	$	1,553,389

(a)	Reflected at fair value in the unaudited condensed consolidated balance sheet as other assets of $3.1 million as of December 31, 2018.

(b)	Reflected at carrying value, net of unamortized debt issuance costs and discounts, in the unaudited condensed consolidated balance sheet as current maturities of long-term debt of $45.5 million and long-term debt of $1.495 billion as of December 31, 2018.

Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Equity Compensation Expense

Equity compensation expense is included in operating expenses and in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of comprehensive income (loss) as follows:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2019		2018		2019		2018
	(In thousands)
Equity compensation expense included in operating expenses	$	676	$	2,667	$	2,033	$	4,230
Equity compensation expense included in selling, general and administrative expenses		3,408		3,225		5,249		9,207
Total equity compensation expense	$	4,084	$	5,892	$	7,282	$	13,437

Schedule of Time-Vesting and Performance Vesting Restricted Share Awards

The activity related to the Company’s time-vesting and performance-vesting awards during the six months ended June 30, 2019 is as follows:

						Performance-Vesting Restricted Awards
	Time-Vesting Restricted Awards					Bonus Performance Restricted Awards					Long-Term Incentive Performance Restricted Awards
	Shares/Units			Weighted Average Grant Date Fair Value per Award		Units			Weighted Average Grant Date Fair Value per Award		Shares/Units			Weighted Average Grant Date Fair Value per Award
Outstanding at December 31, 2018		901,704		$	17.34		560,710		$	15.06		1,155,486		$	15.82
Granted		72,078		$	27.02		225,080		$	25.70		1,233,742		$	25.70
Vested		(144,340	)	$	18.75		(321,715	)	$	15.05		(32,233	)	$	15.36
Forfeited		(155,723	)	$	15.15		(259,814	)	$	15.93		(413,384	)	$	19.20
Outstanding at June 30, 2019		673,719		$	18.57		204,261		$	25.70		1,943,611		$	21.38

Schedule of Activity Related to Stock Option Awards

The activity related to the Company’s stock option awards during the six months ended June 30, 2019 is as follows:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2018		764,577		$	18.05
Granted		430,390		$	25.70
Forfeited		(92,095	)	$	20.97
Expired		(8,593	)	$	18.52
Exercised		(131,176	)	$	17.80
Outstanding at June 30, 2019		963,103		$	21.22		7.67	$	9,417
Exercisable at June 30, 2019		464,385		$	18.38		6.21	$	5,859

Schedule of Stock Options Valuation Assumptions

The weighted average grant date fair value of stock options granted during the six months ended June 30, 2019 was $8.45. Key weighted-average assumptions utilized in the Black-Scholes Option Pricing Model for stock options granted during the six months ended June 30, 2019 were:

Risk-free interest rate	2.48	%
Expected volatility ^(a)	28.50	%
Expected dividend yield	0.00	%
Expected life (years) ^(b)	6.00

(a)	^{Due to the Company’s limited history as a public company, the volatility for the Company’s stock at the date of each grant was estimated using the average volatility calculated for a peer group, which is based upon daily price observations over the estimated term of options granted.}

(b)	The expected life was estimated using the simplified method, as the Company does not have sufficient historical exercise data due to the limited period of time its common stock has been publicly traded.

Restructuring and Other Separation Costs (Tables)

6 Months Ended

Jun. 30, 2019

Restructuring And Related Activities [Abstract]

Schedule of Restructuring Related Activity

Related activity for the six months ended June 30, 2019 was as follows:

	2019 Restructuring and other Separation Costs			2018 Restructuring Program
	(In thousands)
Liability as of December 31, 2018	$	—		$	537
Costs incurred		2,632			—
Payments made		(2,481	)		(330	)
Liability as of June 30, 2019	$	151		$	207

Description of the Business and Basis of Presentation - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($) Business	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) Business Segment	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Business Description And Basis Of Presentation [Line Items]
Number of theme parks owned and operated \| Business	12		12
Number of theme parks opened for a portion of the year \| Business			7
Number of reportable segment \| Segment			1
Long term deferred revenue	$ 10,347		$ 10,347		$ 10,071
Revenue	$ 405,992	$ 391,921	$ 626,567	$ 609,087
ZHG Stock Purchase Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Type of Revenue [Extensible List]	seas:FoodMerchandiseAndOtherRevenueMember	seas:FoodMerchandiseAndOtherRevenueMember	seas:FoodMerchandiseAndOtherRevenueMember	seas:FoodMerchandiseAndOtherRevenueMember
Revenue	$ 0	$ 1,300	$ 1,700	$ 2,500
Middle East Project [Member]
Business Description And Basis Of Presentation [Line Items]
Long term deferred revenue	10,000		10,000
Deferred costs incurred under Middle East Project	4,400		4,400		3,800
Other Liabilities [Member]
Business Description And Basis Of Presentation [Line Items]
Long term deferred revenue	$ 10,000		$ 10,000		$ 10,000
Certain Rides and Equipment [Member]
Business Description And Basis Of Presentation [Line Items]
Write-offs of property and equipment		$ 7,300		$ 7,700

Description of the Business and Basis of Presentation - Summary of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 43,601	$ 34,073
Restricted cash, included in other current assets	$ 1,218	$ 934
Restricted cash, current, asset, statement of financial position [extensible list]	us-gaap:OtherAssetsCurrent	us-gaap:OtherAssetsCurrent
Total cash, cash equivalents and restricted cash	$ 44,819	$ 35,007	$ 34,720	$ 33,997

Description of the Business and Basis of Presentation - Deferred Revenue Balances (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Deferred Revenue Disclosure [Abstract]
Deferred revenue, including long-term portion	$ 173,487	$ 111,181
Less: Deferred revenue, long-term portion, included in other liabilities	10,347	10,071
Deferred revenue, short-term portion	$ 163,140	$ 101,110

Recent Accounting Pronouncements - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($)
ASU 2018-02 [Member] \| Gains (Losses) on Cash Flow Hedges [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Tax Cuts and Jobs Act of 2017, reclassification from accumulated other comprehensive income to accumulated deficit	$ 1.1

Earnings (Loss) per Share - Schedule of Earnings (Loss) per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Basic earnings (loss) per share, Net Income (Loss)	$ 52,651	$ 22,697	$ 15,631	$ (40,147)
Diluted earnings (loss) per share, Net Income (Loss)	$ 52,651	$ 22,697	$ 15,631	$ (40,147)
Basic earnings (loss) per share, Shares	81,520	86,399	82,432	86,305
Effect of dilutive incentive-based awards, Shares	647	486	784
Diluted earnings (loss) per share, Shares	82,167	86,885	83,216	86,305
Basic earnings (loss) per share, Per Share Amount	$ 0.65	$ 0.26	$ 0.19	$ (0.47)
Diluted earnings (loss) per share, Per Share Amount	$ 0.64	$ 0.26	$ 0.19	$ (0.47)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Earnings (Loss) per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Line Items]
Anti-dilutive or potentially dilutive shares excluded from the computation of diluted earnings (loss) per share	407,000	2,023,000	253,000	3,882,000
Performance-vesting Restricted Awards [Member]
Earnings Per Share [Line Items]
Contingently issuable shares excluded from the calculation of diluted earnings (loss) per share			2,148,000	1,950,000

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Line Items]
Effective tax rate	29.40%	34.60%	30.30%	21.90%
Income tax rate at federal statutory rates	21.00%	21.00%	21.00%	21.00%
State Tax Credit Carry Forwards [Member]
Income Tax Disclosure [Line Items]
Deferred tax assets, valuation allowance	$ 5.3		$ 5.3		$ 2.8

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Payables And Accruals [Abstract]
Accrued property taxes	$ 7,134
Self-insurance reserve	7,203	$ 6,895
Accrued interest	1,397	490
Other	5,074	15,681
Total other accrued expenses	$ 20,808	$ 23,066

Other Accrued Liabilities - Additional Information (Detail) $ in Millions	Dec. 31, 2018 USD ($)
EZPay Plan Class Action Lawsuit [Member]
Other Accrued Liabilitiies [Line Items]
Settlement of litigation accrued	$ 11.5

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt	$ 1,660,636	$ 1,553,389
Less: discounts	(5,649)	(6,564)
Less: debt issuance costs	(5,782)	(6,641)
Less: current maturities, including revolving credit facility	(160,505)	(45,505)
Total long-term debt, net	1,488,700	1,494,679
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt	145,000	30,000
Term B-5 Loans [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,515,636	$ 1,523,389

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2019	Dec. 31, 2018
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument interest rate effective percentage	5.12%	5.17%
Term B-5 Loans [Member]
Debt Instrument [Line Items]
Debt instrument interest rate effective percentage	5.40%	5.52%

Long-Term Debt - Additional Information (Detail)					6 Months Ended		12 Months Ended
Long-Term Debt - Additional Information (Detail)	Aug. 07, 2019 USD ($)	May 27, 2019 USD ($)	Oct. 31, 2018	Jan. 05, 2018 USD ($)	Jun. 30, 2019 USD ($) Swap	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Long-term debt					$ 1,660,636,000		$ 1,553,389,000
Outstanding letters of credit					$ 20,400,000
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Number of interest rate swaps held \| Swap					5
Notional amount of interest rate swap					$ 1,000,000,000.0
Maturity of interest rate swap					May 14, 2020
Weighted average fixed interest rate					2.45%
Variable rate of interest					0.75%
Variable rate of interest, description					variable rate of interest based upon the greater of 0.75% or the BBA LIBOR
Share Repurchase Program [Member]
Debt Instrument [Line Items]
Stock repurchases under Share Repurchase Program		$ 150,000,000.0					158,000,000.0
Privately Negotiated Transaction [Member] \| Share Repurchase Program [Member]
Debt Instrument [Line Items]
Stock repurchases under Share Repurchase Program					$ 150,000,000.0
Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
Cash paid for interest				$ 5,100,000	39,800,000	$ 43,700,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt					145,000,000		30,000,000
Senior secured revolving					210,000,000.0
Amount available for borrowing					$ 44,600,000
Revolving Credit Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Repayment of revolving credit facility	$ 115,000,000.0
Restrictive Covenants [Member] \| Senior Secured Credit Facilities [Member]
Debt Instrument [Line Items]
First lien secured net leverage ratio			625.00%
Restrictive covenants, description			The Amended Credit Agreement removed all previous financial covenants on the Term B-5 Loans. The Revolving Credit Facility requires that SEA comply with a springing maximum first lien secured leverage ratio of 6.25x to be tested as of the last day of any fiscal quarter, solely to the extent that on such date the aggregate amount of funded loans and letters of credit (excluding undrawn letters of credit in an amount not to exceed $30.0 million and cash collateralized letters of credit) under the Revolving Credit Facility exceeds an amount equal to 35% of the then outstanding commitments under the Revolving Credit Facility. Based on the outstanding Revolving Credit Facility balance as of June 30, 2019, SEA was required to comply with this financial covenant. As of June 30, 2019, SEA was in compliance with all covenants contained in the documents governing the Senior Secured Credit Facilities.		The Senior Secured Credit Facilities permit restricted payments in an aggregate amount per annum equal to the sum of (A) $25.0 million plus (B) an amount, if any, equal to (1) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment, is no greater than 3.50 to 1.00, an unlimited amount, (2) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment is no greater than 4.00 to 1.00 and greater than 3.50 to 1.00, the greater of (a) $95.0 million and (b) 7.50% of Market Capitalization (as defined in the Senior Secured Credit Facilities), (3) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment is no greater than 4.50 to 1.00 and greater than 4.00 to 1.00, $95.0 million and (4) if the total net leverage ratio on a pro forma basis after giving effect to the payment of any such restricted payment is no greater than 5.00 to 1.00 and greater than 4.50 to 1.00, $65.0 million.
Percentage of Market Capitalization on restricted payment					7.50%
First lien secured net leverage ratio					350.00%
Total net leverage ratio, as calculated					355.00%
Restrictive covenants, restricted payments available					$ 200,000,000.0
Restrictive Covenants [Member] \| Senior Secured Credit Facilities [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Excludable letters of credit under maximum required first lien secured leverage ratio					30,000,000.0
Restricted payment on Senior Secured Credit Facilities, base payment					25,000,000.0
Restricted payment on Senior Secured Credit Facilities, first payment					95,000,000.0
Restricted payment on Senior Secured Credit Facilities, second payment					95,000,000.0
Restricted payment on Senior Secured Credit Facilities, third payment					$ 65,000,000.0
Total leverage ratio, one					400.00%
Total leverage ratio, two					450.00%
Total leverage ratio, three					500.00%
Restrictive Covenants [Member] \| Senior Secured Credit Facilities [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Minimum percentage of funded loan and letters of credit for covenant to apply					35.00%
Total leverage ratio, one					350.00%
Total leverage ratio, two					400.00%
Total leverage ratio, three					450.00%
Term B-5 Loans [Member]
Debt Instrument [Line Items]
Long-term debt					$ 1,515,636,000		$ 1,523,389,000
Long-term debt, maturity date					Mar. 31, 2024
Percent of original principal amount on effective date used to calculate aggregate annual amount which will amortize in equal quarterly installments					1.015%

Long-Term Debt - Summary of Long-Term Debt Repayable (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Maturities Of Long Term Debt [Abstract]
Remainder of 2019	$ 152,754
2020	15,505
2021	15,505
2022	15,505
2023	15,505
Thereafter	1,445,862
Long-term debt	$ 1,660,636	$ 1,553,389

Leases - Additional Information (Detail) $ in Thousands	3 Months Ended	6 Months Ended
Leases - Additional Information (Detail) $ in Thousands	Jun. 30, 2019 USD ($) a	Jun. 30, 2019 USD ($) a Mile	Dec. 31, 2018 USD ($)
Lessee Lease Description [Line Items]
Number of area not to use within the radius of land lease \| Mile		560
Estimated incremental borrowing rate	8.20%	8.20%
Operating lease, lease payment, description		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.
Number of percentage of average accounting year rent adjusted on minimum yearly rent		80.00%
Rent expense	$ 10,400	$ 10,400	$ 16,578
Operating lease payments related to options to extend lease terms		7,200
Operating Expenses and Selling, General and Administrative Expenses [Member]
Lessee Lease Description [Line Items]
Short term rent expense	1,100	1,900
ASU 2016-02 [Member]
Lessee Lease Description [Line Items]
Lease asset net balance reclassified	$ 14,000	$ 14,000
City of San Deigo [Member]
Lessee Lease Description [Line Items]
Number of land lease area \| a	190	190
Mission Bay Park, California (Premises) [Member]
Lessee Lease Description [Line Items]
Number of land lease area \| a	17	17
Current lease term		2048-06
Rent expense	$ 3,000	$ 4,700
Maximum [Member]
Lessee Lease Description [Line Items]
Term of lease	12 months	12 months
Lease renewal term	10 years	10 years
Minimum [Member]
Lessee Lease Description [Line Items]
Lease renewal term	1 year	1 year

Leases - Schedule of Lease Balances and Classification on Unaudited Condensed Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Lessee Lease Description [Line Items]
Operating leases	$ 144,634
Total lease assets	148,440	$ 16,905
Current
Operating leases	4,105
Noncurrent
Operating leases	127,099
Total lease liabilities	135,059	2,965
Other Intangible Assets, Net [Member]
Lessee Lease Description [Line Items]
Operating leases		13,961
Other Assets Net [Member]
Lessee Lease Description [Line Items]
Financing/Capital leases	3,806
Property and Equipment, at Cost [Member]
Lessee Lease Description [Line Items]
Financing/Capital leases		3,066
Capital leases, accumulated depreciation		(122)
Other Accrued Liabilities [Member]
Current
Financing/Capital leases	700	143
Other Liabilities [Member]
Noncurrent
Financing/Capital leases	$ 3,155	$ 2,822

Leases - Schedule of Lease Costs and Classification on Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Lease Cost
Net lease cost	$ 4,380	$ 7,499
Operating Expense [Member]
Lessee Lease Description [Line Items]
Operating lease cost	4,023	6,781
Selling, General and Administrative Expenses [Member]
Lessee Lease Description [Line Items]
Operating lease cost	136	273
Depreciation and Amortization [Member]
Financing lease cost
Amortization of leased assets	184	368
Interest Expense [Member]
Financing lease cost
Interest on lease liabilities	$ 37	$ 77

Leases - Schedule of Lease Maturities (Detail) $ in Thousands	Jun. 30, 2019 USD ($)
Operating leases
Remainder of 2019	$ 7,230
2020	14,244
2021	13,895
2022	12,898
2023	12,355
2024	12,141
Thereafter	247,424
Total lease payments	320,187
Less: Imputed interest	(188,983)
Present value of lease liabilities	131,204
Financing leases
Remainder of 2019	413
2020	825
2021	332
2022	208
2023	204
2024	201
Thereafter	2,593
Total lease payments	4,776
Less: Imputed interest	(921)
Present value of lease liabilities	3,855
Land Lease [Member]
Operating leases
Remainder of 2019	5,201
2020	10,401
2021	10,401
2022	10,401
2023	10,401
2024	10,401
Thereafter	244,431
Total lease payments	301,637
Less: Imputed interest	(185,865)
Present value of lease liabilities	115,772
Other Operating Leases [Member]
Operating leases
Remainder of 2019	2,029
2020	3,843
2021	3,494
2022	2,497
2023	1,954
2024	1,740
Thereafter	2,993
Total lease payments	18,550
Less: Imputed interest	(3,118)
Present value of lease liabilities	$ 15,432

Leases - Schedule of Future Minimum Lease Payments For Long-Term Non-Cancellable Operating and Financing Leases Under ASC 840 (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating leases
2019	$ 10,400	$ 16,578
2020		14,179
2021		13,111
2022		11,416
2023		10,479
Thereafter		265,234
Total lease payments		330,997
Financing leases
2019		231
2020		226
2021		220
2022		208
2023		204
Thereafter		2,794
Total lease payments		3,883
Less: Interest		(918)
Total principal payable on financing leases		$ 2,965

Leases - Schedule of Weighted Average Remaining Lease Terms and Applicable Discount Rates (Detail)	Jun. 30, 2019
Leases [Abstract]
Operating lease, weighted average remaining lease term (years)	26 years 3 months 14 days
Finance lease, weighted average remaining lease term (years)	14 years 4 months 6 days
Operating lease, weighted average discount rate	8.11%
Finance lease, weighted average discount rate	3.67%

Leases - Schedule of Cash Flows and Supplemental Information Associated with Leasing Activities (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 6,793
Operating cash flows from financing leases	77
Financing cash flows from financing leases	339
Right of use assets obtained in exchange for lease obligations
Financing leases	1,230
Operating leases	$ 133,297

Derivative Instruments and Hedging Activities - Additional Information (Detail)	Jun. 30, 2019 USD ($) Swap	Dec. 31, 2018 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Reclassified as a increase to interest expense, expected during the next 12 months	$ 3,700,000
Termination value of derivatives in a net liability position	3,700,000
Collateral posted relating to credit risk-related contingent features	0
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount of interest rate swap	$ 1,000,000,000.0
Number of interest rate swaps held \| Swap	5
Not Designated as Hedge Accounting Relationships [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives outstanding	$ 0	$ 0

Derivative Instruments and Hedging Activities - Fair Value of Company's Derivative Financial Instruments Classification on Unaudited Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives Fair Value	$ 3,600
Other Assets [Member]
Derivatives Fair Value [Line Items]
Assets Derivatives Fair Value		$ 3,100
Interest Rate Swaps [Member] \| Other Liabilities [Member]
Derivatives Fair Value [Line Items]
Liability Derivatives Fair Value	$ 3,619
Interest Rate Swaps [Member] \| Other Assets [Member]
Derivatives Fair Value [Line Items]
Assets Derivatives Fair Value		$ 3,109

Derivative Instruments and Hedging Activities - Schedule of Pre-tax Effect of Derivative Financial Instruments on Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivatives in Cash Flow Hedging Relationships:
(Loss) gain recognized in accumulated other comprehensive income (loss)	$ (3,572)	$ 3,777	$ (5,525)	$ 15,893
Loss reclassified from accumulated other comprehensive income (loss) to interest expense	$ (349)	$ (383)	$ (1,204)	$ (2,234)

Derivative Instruments and Hedging Activities - Schedule of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Accumulated other comprehensive income (loss):
Beginning Balance	$ 265,194
Ending Balance	131,548
Accumulated Other Comprehensive Income [Member]
Accumulated other comprehensive income (loss):
Beginning Balance	2,284
Ending Balance	(2,646)
Gains (Losses) on Cash Flow Hedges [Member]
Accumulated other comprehensive income (loss):
Other comprehensive loss before reclassifications	(4,048)
Amounts reclassified from accumulated other comprehensive income (loss) to interest expense	(882)
Unrealized loss on derivatives, net of tax	$ (4,930)

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Transfers between Levels	$ 0	$ 0	$ 0
Assets measured at fair value	$ 0	$ 0

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Liabilities:
Derivative financial instruments	$ 3,619
Long-term obligations	1,660,636	$ 1,553,389
Assets:
Derivative financial instruments		3,109
Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Derivative financial instruments	3,619
Long-term obligations	$ 1,660,636	1,553,389
Assets:
Derivative financial instruments		$ 3,109

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Current maturities of long-term debt	$ 160,505	$ 45,505
Total long-term debt, net	1,488,700	1,494,679
Other Liabilities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liability Derivatives Fair Value	$ 3,600
Other Assets [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Assets Derivatives Fair Value		$ 3,100

Related-Party Transactions - Additional Information (Detail)			3 Months Ended		6 Months Ended		12 Months Ended
	May 27, 2019 USD ($) Director $ / shares shares	May 08, 2017 shares	Jun. 30, 2019 USD ($) shares	Jun. 30, 2018 shares	Jun. 30, 2019	Jun. 30, 2018 shares	Dec. 31, 2018 USD ($)	Mar. 24, 2017
Related Party Transaction [Line Items]
Stock repurchased agreement closing date					May 30, 2019
Share Repurchase Program [Member]
Related Party Transaction [Line Items]
Stock Repurchase Program, number of shares repurchased \| shares	5,615,874		5,615,874	0		0
Stock repurchases under Share Repurchase Program \| $	$ 150,000,000.0						$ 158,000,000.0
Price per share \| $ / shares	$ 26.71
Zhonghong Zhuoye Group [Member]
Related Party Transaction [Line Items]
Percentage of common stock outstanding by partnership								21.00%
Sun Wise [Member]
Related Party Transaction [Line Items]
Beneficial ownership of common stock, shares \| shares		19,452,063
Hill Path Capital LP [Member]
Related Party Transaction [Line Items]
Percentage of common stock outstanding by partnership	34.60%
Price per share \| $ / shares	$ 26.71
Stock Repurchase Program, number of shares repurchased \| shares	13,214,000
Stock purchase agreement closing date					May 30, 2019
Reimbursable expenses incurred \| $	$ 250,000
Percentage shares held	24.90%
Hill Path Capital LP [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Number of directors appointed \| Director	3
Reimbursable expenses incurred \| $			$ 250,000

Commitments and Contingencies - Additional Information (Detail) - USD ($)		6 Months Ended
	Apr. 18, 2019	Jun. 30, 2019	Apr. 30, 2018
Commitments And Contingencies [Line Items]
License agreement term, description		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.
EZPay Plan Class Action Lawsuit [Member]
Commitments And Contingencies [Line Items]
Estimated liability for legal settlement			$ 11,500,000
Settlement of litigation	$ 11,500,000
Maximum [Member]
Commitments And Contingencies [Line Items]
Estimated combined remaining obligations for commitments		$ 60,000,000.0
Minimum [Member]
Commitments And Contingencies [Line Items]
Amount in controversy, not recorded		$ 5,000,000.0

Equity-Based Compensation - Schedule of Equity Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity-based compensation	$ 4,084	$ 5,892	$ 7,282	$ 13,437
Operating Expense [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity-based compensation	676	2,667	2,033	4,230
Selling, General and Administrative Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity-based compensation	$ 3,408	$ 3,225	$ 5,249	$ 9,207

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Recognized equity-based compensation expense	$ 1.0		$ 5.5
Weighted average grant-date fair value of stock options		$ 8.45
Long-Term Incentive Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Vesting percentage, per year		33.00%
Long-Term Incentive Performance Restricted Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting terms		The Long-Term Incentive Performance Restricted Units have a three-year performance period beginning on January 1, 2019 and ending on December 31, 2021 and vest based upon the Company’s achievement of specified performance goals for Fiscal 2021, as defined by the 2019 Long-Term Incentive Grant. The total number of Long-Term Incentive Performance Restricted Units eligible to vest will be based on the level of achievement of the performance goals and ranges from 0% (if below threshold performance) up to 100% (for target or above performance). Upon achievement of the performance goals, only 50% of the award for a given level of performance will vest, with the remaining 50% subject to a one-year performance test period. The goal achieved must be met again or exceeded the next fiscal year before the remaining units are earned.
Long-Term Incentive Time Restricted Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Vesting percentage, per year		33.00%
Omnibus Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance, gross		15,000,000
Shares available for future issuance		8,710,000
2019 Bonus Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of bonus payable by cash		50.00%
2019 Bonus Plan [Member] \| Bonus Performance Restricted Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of bonus payable by units		50.00%
2019 Bonus Plan [Member] \| Below Threshold Performance Bonus Restricted Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage, per year		0.00%
2019 Bonus Plan [Member] \| At or Above Maximum Performance Bonus Restricted Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage, per year		200.00%
2019 Long-Term Incentive Plan [Member] \| Long-Term Incentive Performance Restricted Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period		3 years
2019 Long-Term Incentive Plan Below Threshold Performance [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage, per year		0.00%
2019 Long-Term Incentive Plan At or Above Maximum Performance [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage, per year		100.00%

Equity-Based Compensation - Schedule of Employee Stock Performance Activity (Detail)	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Time-Vesting Restricted Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares/Units, Outstanding, Beginning Balance \| shares	901,704
Shares/Units, Granted \| shares	72,078
Shares/Units, Vested \| shares	(144,340)
Shares/Units, Forfeited \| shares	(155,723)
Shares/Units, Outstanding, Ending Balance \| shares	673,719
Weighted Average Grant Date Fair Value per Award, Outstanding, Beginning Balance \| $ / shares	$ 17.34
Weighted Average Grant Date Fair Value per Award, Granted \| $ / shares	27.02
Weighted Average Grant Date Fair Value per Award, Vested \| $ / shares	18.75
Weighted Average Grant Date Fair Value per Award, Forfeited \| $ / shares	15.15
Weighted Average Grant Date Fair Value per Award, Outstanding, Ending Balance \| $ / shares	$ 18.57
Bonus Performance Restricted Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares/Units, Outstanding, Beginning Balance \| shares	560,710
Shares/Units, Granted \| shares	225,080
Shares/Units, Vested \| shares	(321,715)
Shares/Units, Forfeited \| shares	(259,814)
Shares/Units, Outstanding, Ending Balance \| shares	204,261
Weighted Average Grant Date Fair Value per Award, Outstanding, Beginning Balance \| $ / shares	$ 15.06
Weighted Average Grant Date Fair Value per Award, Granted \| $ / shares	25.70
Weighted Average Grant Date Fair Value per Award, Vested \| $ / shares	15.05
Weighted Average Grant Date Fair Value per Award, Forfeited \| $ / shares	15.93
Weighted Average Grant Date Fair Value per Award, Outstanding, Ending Balance \| $ / shares	$ 25.70
Long-Term Incentive Performance Restricted Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares/Units, Outstanding, Beginning Balance \| shares	1,155,486
Shares/Units, Granted \| shares	1,233,742
Shares/Units, Vested \| shares	(32,233)
Shares/Units, Forfeited \| shares	(413,384)
Shares/Units, Outstanding, Ending Balance \| shares	1,943,611
Weighted Average Grant Date Fair Value per Award, Outstanding, Beginning Balance \| $ / shares	$ 15.82
Weighted Average Grant Date Fair Value per Award, Granted \| $ / shares	25.70
Weighted Average Grant Date Fair Value per Award, Vested \| $ / shares	15.36
Weighted Average Grant Date Fair Value per Award, Forfeited \| $ / shares	19.20
Weighted Average Grant Date Fair Value per Award, Outstanding, Ending Balance \| $ / shares	$ 21.38

Equity-Based Compensation - Schedule of Activity Related to Stock Option Awards (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options, Outstanding, Beginning Balance	764,577
Options, Granted	430,390
Options, Forfeited	(92,095)
Options, Expired	(8,593)
Options, Exercised	(131,176)
Options, Outstanding, Ending Balance	963,103
Options, Exercisable at June 30, 2019	464,385
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 18.05
Weighted Average Exercise Price, Granted	25.70
Weighted Average Exercise Price, Forfeited	20.97
Weighted Average Exercise Price, Expired	18.52
Weighted Average Exercise Price, Exercised	17.80
Weighted Average Exercise Price, Outstanding, Ending Balance	21.22
Weighted Average Exercise Price, Exercisable at June 30, 2019	$ 18.38
Weighted Average Remaining Contractual Life, Outstanding at June 30, 2019	7 years 8 months 1 day
Weighted Average Remaining Contractual Life, Exercisable at June 30, 2019	6 years 2 months 15 days
Aggregate Intrinsic Value, Outstanding at June 30, 2019	$ 9,417
Aggregate Intrinsic Value, Exercisable at June 30, 2019	$ 5,859

Equity-Based Compensation - Schedule of Stock Options Valuation Assumptions (Detail)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	2.48%
Expected volatility	28.50%
Expected dividend yield	0.00%
Expected life (years)	6 years

Stockholders' Equity - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended	12 Months Ended
	May 27, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2018	Aug. 02, 2019	Mar. 31, 2019	Feb. 22, 2019	Feb. 21, 2019	Mar. 31, 2018	Dec. 31, 2017
Stockholders Equity [Line Items]
Common stock, shares issued		93,884,971			93,400,929
Treasury stock, shares		15,790,463			10,174,589
Share Repurchase Program [Member]
Stockholders Equity [Line Items]
Share Repurchase Program, authorized amount								$ 250,000,000.0	$ 250,000,000.0
Stock repurchases under Share Repurchase Program	$ 150,000,000.0				$ 158,000,000.0
Stock Repurchase Program, number of shares repurchased	5,615,874	5,615,874	0	0
Share Repurchase Program [Member] \| Subsequent Event [Member]
Stockholders Equity [Line Items]
Share Repurchase Program, authorized amount						$ 250,000,000.0
Stock Repurchase Program, replenishment amount						$ 150,000,000.0
Common Stock [Member]
Stockholders Equity [Line Items]
Common stock, shares issued		93,884,971	93,060,175	93,060,175	93,400,929		93,748,617			92,889,547	92,637,403
Number of unvested shares		581,013
Restricted Stock Units [Member]
Stockholders Equity [Line Items]
Number of unvested shares		2,240,578

Restructuring and Other Separation Costs - Additional Information (Detail) $ in Thousands		3 Months Ended			6 Months Ended
	Feb. 27, 2018 USD ($)	Jun. 30, 2019 USD ($)	Sep. 30, 2018 Position	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Restructuring Cost And Reserve [Line Items]
Restructuring and other separation costs		$ 66		$ 3,691	$ 2,632	$ 12,526
Severance related benefits	$ 6,700
2018 Restructuring Program [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring costs, description					In August 2018, the Company announced a restructuring program (the “2018 Restructuring Program”) focused on reducing costs, improving operating margins and streamlining its management structure to create efficiencies and better align with its strategic business objectives. The 2018 Restructuring Program involved the elimination of approximately 125 positions during the third quarter of 2018 across the Company’s theme parks and its corporate headquarters. As a result, during the year ended December 31, 2018, the Company recorded approximately $5.5 million in pre-tax restructuring charges primarily related to severance and other termination benefits, of which, $1.8 million was incurred during the three and six months ended June 30, 2018, which is included in restructuring and other separation costs in the accompanying unaudited condensed consolidated statements of comprehensive income (loss). The Company will not incur any additional costs associated with the 2018 Restructuring Program in 2019 as all continuing service obligations were completed as of December 31, 2018.
Number of positions eliminated \| Position			125
Restructuring and other related costs incurred to date				$ 1,800		$ 1,800	$ 5,500

Restructuring and Other Separation Costs - Schedule of Restructuring Program Activity (Detail) - Severance and Other Employment Expenses [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
2019 Restructuring and Other Separation Costs [Member]
Restructuring Cost And Reserve [Line Items]
Costs incurred	$ 2,632
Payments made	(2,481)
Liability, ending balance	151
2018 Restructuring Program [Member]
Restructuring Cost And Reserve [Line Items]
Liability, beginning balance	537
Payments made	(330)
Liability, ending balance	$ 207