XML 36 R35.htm IDEA: XBRL DOCUMENT  v2.3.0.11

Income Taxes (Tables)

12 Months Ended

Jul. 31, 2011

Income Taxes

Components Of Deferred Tax Liabilities And Assets

		July 31,
		2011				2010
Deferred income tax liabilities:
Fixed assets		$	131,024			$	109,921
Intangible assets			34,350				31,825
Real estate and other investments			5,326				--
Total			170,700				141,746
Deferred income tax assets:
Deferred membership revenue			22,668				26,282
Real estate and other investments			2,124				5,041
Deferred compensation and other accrued liabilities			10,093				10,902
Stock-based compensation			13,436				10,366
Unfavorable lease obligation, net			15,754				--
Net operating loss carryforwards other tax credits			2,187				2,041
Other, net			1,985				1,612
Total			68,247				56,244
Valuation allowance for deferred income taxes			(1,588	)			(1,588	)
Deferred income tax assets, net of valuation allowance			66,659				54,656
Net deferred income tax liability		$	104,041			$	87,090

Net Current And Non-Current Components Of Deferred Income Taxes

		July 31,
		2011				2010
Net current deferred income tax asset		$	29,167			$	21,406
Net non-current deferred income tax liability			133,208				108,496
Net deferred income tax liability		$	104,041			$	87,090

Components Of Provision (Benefit) For Income Taxes

		Year Ended July 31,
		2011				2010				2009
Current:
Federal		$	(9,886	)		$	19,661			$	(242	)
State			(1,210	)			2,788				119
Total current			(11,096	)			22,449				(123	)
Deferred:
Federal			28,087				(3,989	)			27,358
State			4,107				(438	)			3,409
Total deferred			32,194				(4,427	)			30,767
Provision for income taxes		$	21,098			$	18,022			$	30,644

Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation

		Year Ended July 31,
		2011				2010				2009
At U.S. Federal income tax rate			35.0   %				35.0   %				35.0   %
State income tax, net of Federal benefit			3.1   %				2.8   %				2.8   %
Nondeductible meals or entertainment			0.4   %				0.3   %				0.2   %
Noncontrolling interest			0.1   %				(3.5) %				(0.7) %
General business credits			(1.0) %				(1.1) %				(0.8) %
Other			0.4   %				-- %				1.2   %
			38.0 %				33.5%				37.7   %

Reconciliation Of Unrecognized Tax Benefits

		Unrecognized Tax Benefits
Balance as of August 1, 2008		$	17,796
Additions based on tax positions related to the current year			--
Additions for tax positions of prior years			9,524
Reductions for tax positions of prior years			--
Settlements			--
Balance as of July 31, 2009		$	27,320
Additions based on tax positions related to the current year			--
Additions for tax positions of prior years			--
Reductions for tax positions of prior years			--
Lapse of statute of limitations			(272	)
Settlements			--
Balance as of July 31, 2010		$	27,048
Additions based on tax positions related to the current year			--
Additions for tax positions of prior years			--
Reductions for tax positions of prior years			--
Lapse of statute of limitations			(475	)
Settlements			--
Balance as of July 31, 2011		$	26,573

X

- Definition

Schedule Of Net Current And Non Current Components Of Deferred Income Taxes [Table Text Block]

+ Details

Name:	mtn_ScheduleOfNetCurrentAndNonCurrentComponentsOfDeferredIncomeTaxesTableTextBlock
Namespace Prefix:	mtn
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Topic 740
-SubTopic 10
-Publisher FASB
-Number
-Article
-Subparagraph
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Topic 740
-SubTopic 10
-Publisher FASB
-Number
-Article
-Subparagraph
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Topic 740
-SubTopic 10
-Publisher FASB
-Number
-Article
-Subparagraph
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 21
-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 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

+ Details

Name:	us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix:	us-gaap
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration