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Selected Quarterly Financial Data | 12 Months Ended
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Jul. 31, 2011
Selected Quarterly Financial Data |
Selected Quarterly Financial Data |
15. | Selected Quarterly Financial Data (Unaudited--in thousands, except per share amounts)
|  | 2011 |
|  | Year |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |
|  | Ended |  |  | Ended |  |  | Ended |  |  | Ended |  |  | Ended |
|  | July 31, |  |  | July 31, |  |  | April 30, |  |  | January 31, |  |  | October 31, |
|  | 2011 |  |  | 2011 |  |  | 2011 |  |  | 2011 |  |  | 2010 |
Mountain revenue |  | $ | 752,191 |  |  | $ | 41,717 |  |  | $ | 351,418 |  |  | $ | 318,277 |  |  | $ | 40,779 |
Lodging revenue |  |  | 214,658 |  |  |  | 54,388 |  |  |  | 57,477 |  |  |  | 51,676 |  |  |  | 51,117 |
Real estate revenue |  |  | 200,197 |  |  |  | 12,568 |  |  |  | 13,221 |  |  |  | 25,147 |  |  |  | 149,261 |
Total net revenue |  |  | 1,167,046 |  |  |  | 108,673 |  |  |  | 422,116 |  |  |  | 395,100 |  |  |  | 241,157 |
Income (loss) from operations |  |  | 94,472 |  |  |  | (77,828 | ) |  |  | 139,495 |  |  |  | 97,061 |  |  |  | (64,256 | )
Net income (loss) |  |  | 34,422 |  |  |  | (53,935 | ) |  |  | 76,840 |  |  |  | 54,577 |  |  |  | (43,060 | )
Net income (loss) attributable to Vail Resorts, Inc. |  | $ | 34,489 |  |  | $ | (53,906 | ) |  | $ | 76,867 |  |  | $ | 54,551 |  |  | $ | (43,023 | )
Basic net income (loss) per share attributable to Vail Resorts, Inc. |  | $ | 0.96 |  |  | $ | (1.49 | ) |  | $ | 2.13 |  |  | $ | 1.52 |  |  | $ | (1.20 | )
Diluted net income (loss) per share attributable to Vail Resorts, Inc. |  | $ | 0.94 |  |  | $ | (1.49 | ) |  | $ | 2.08 |  |  | $ | 1.48 |  |  | $ | (1.20 | )
|  | 2010 |
|  | Year |  |  | Quarter |  |  | Quarter |  |  | Quarter |  |  | Quarter |
|  | Ended |  |  | Ended |  |  | Ended |  |  | Ended |  |  | Ended |
|  | July 31, |  |  | July 31, |  |  | April 30, |  |  | January 31, |  |  | October 31, |
|  | 2010 |  |  | 2010 |  |  | 2010 |  |  | 2010 |  |  | 2009 |
Mountain revenue |  | $ | 638,495 |  |  | $ | 36,100 |  |  | $ | 302,213 |  |  | $ | 260,978 |  |  | $ | 39,204 |
Lodging revenue |  |  | 195,301 |  |  |  | 51,322 |  |  |  | 51,880 |  |  |  | 44,802 |  |  |  | 47,297 |
Real estate revenue |  |  | 61,007 |  |  |  | 56,768 |  |  |  | 3,164 |  |  |  | 870 |  |  |  | 205 |
Total net revenue |  |  | 894,803 |  |  |  | 144,190 |  |  |  | 357,257 |  |  |  | 306,650 |  |  |  | 86,706 |
Income (loss) from operations |  |  | 69,309 |  |  |  | (57,841 | ) |  |  | 118,323 |  |  |  | 73,541 |  |  |  | (64,714) |
Net income (loss) |  |  | 35,775 |  |  |  | (42,184 | ) |  |  | 76,391 |  |  |  | 45,079 |  |  |  | (43,511) |
Net income (loss) attributable to Vail Resorts, Inc. |  | $ | 30,385 |  |  | $ | (41,921 | ) |  | $ | 72,789 |  |  | $ | 40,690 |  |  | $ | (41,173) |
Basic net income (loss) per share attributable to Vail Resorts, Inc. |  | $ | 0.84 |  |  | $ | (1.16 | ) |  | $ | 2.01 |  |  | $ | 1.12 |  |  | $ | (1.14) |
Diluted net income (loss) per share attributable to Vail Resorts, Inc. |  | $ | 0.83 |  |  | $ | (1.16 | ) |  | $ | 1.98 |  |  | $ | 1.11 |  |  | $ | (1.14) |
In the current year, the Company revised its presentation of reimbursed payroll costs from managed hotel properties from a net presentation to a gross presentation in its Consolidated Statements of Operations (see Note 2, Summary of Significant Accounting Policies). The effect of this change increased Lodging net revenue for the quarters ended April 30, 2011, January 31, 2011, and October 31, 2010, from $49.8 million, $44.7 million and $44.4 million, respectively (as previously reported) to $57.5 million, $51.7 million and $51.1 million, respectively. The effect of this change increased Lodging net revenue for the quarters ended July 31, 2010, April 30, 2010, January 31, 2010, and October 31, 2009, from $44.2 million, $44.9 million, $38.7 million and $41.4 million, respectively (as previously reported) to $51.3 million, $51.9 million, $44.8 million and $47.3 million, respectively.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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