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Segment Information (Tables)

12 Months Ended

Jul. 31, 2011

Summary Of Financial Information By Reportable Segment


	Year Ended July 31,
	2011			2010			2009
Net revenue:
Lift tickets	$	342,514		$	289,289		$	276,542
Ski school		83,818			70,694			65,336
Dining		68,052			53,322			52,259
Retail/rental		174,339			154,846			147,415
Other		83,468			70,344			73,045

Total Mountain net revenue		752,191			638,495			614,597
Lodging		214,658			195,301			203,606


Resort		966,849			833,796			818,203
Real estate		200,197			61,007			186,150


Total net revenue	$	1,167,046		$	894,803		$	1,004,353
Segment operating expense:
Mountain	$	540,366		$	456,017		$	451,025
Lodging		205,903			192,909			196,847
Resort		746,269			648,926			647,872
Real estate		205,232			71,402			142,070
Total segment operating expense	$	951,501		$	720,328		$	789,942

Gain on sale of real property	$	--		$	6,087		$	--
Mountain equity investment income, net	$	1,342		$	1,558		$	817

Reported EBITDA:
Mountain	$	213,167		$	184,036		$	164,389
Lodging		8,755			2,392			6,759

Resort		221,922			186,428			171,148
Real estate		(5,035	)		(4,308	)		44,080


Total Reported EBITDA	$	216,887		$	182,120		$	215,228

Real estate held for sale and investment	$	273,663		$	422,164		$	311,485

Reconciliation to net income attributable to Vail Resorts, Inc.:

Total Reported EBITDA	$	216,887		$	182,120		$	215,228
Depreciation and amortization		(117,957	)		(110,638	)		(107,213)
Loss on disposal of fixed assets, net		(555	)		(615	)		(1,064)
Asset impairment charge		(2,561	)		--			--
Investment income, net		719			445			1,793
Interest expense, net		(33,641	)		(17,515	)		(27,548)
Loss on extinguishment of debt		(7,372	)		--			--
Income before provision for income taxes		55,520			53,797			81,196
Provision for income taxes		(21,098	)		(18,022	)		(30,644)


Net income		34,422			35,775			50,552
Net loss (income) attributable to noncontrolling interests		67			(5,390	)		(1,602)
Net income attributable to Vail Resorts, Inc.	$	34,489		$	30,385		$	48,950

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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