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Selected Quarterly Financial Data

12 Months Ended

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
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-URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306

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