XML 51 R40.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Tables) | 12 Months Ended
--- | ---
Jul. 31, 2013
Guarantor Subsidiaries And Non Guarantor Subsidiaries |
Supplemental Condensed Consolidating Balance Sheet | Supplemental Condensed Consolidating Balance Sheet As of July 31, 2013 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Current assets: |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | 130,970 |  | $ | 7,634 |  | $ | — |  | $ | 138,604 |
Restricted cash | — |  | 10,890 |  | 1,734 |  | — |  | 12,624 |
Trade receivables, net | — |  | 77,725 |  | 1,312 |  | — |  | 79,037 |
Inventories, net | — |  | 68,101 |  | 217 |  | — |  | 68,318 |
Other current assets | 25,190 |  | 18,475 |  | 1,221 |  | — |  | 44,886 |
Total current assets | 25,190 |  | 306,161 |  | 12,118 |  | — |  | 343,469 |
Property, plant and equipment, net | — |  | 1,124,004 |  | 45,284 |  | — |  | 1,169,288 |
Real estate held for sale and investment | — |  | 195,230 |  | — |  | — |  | 195,230 |
Goodwill, net | — |  | 347,078 |  | 1,746 |  | — |  | 348,824 |
Intangible assets, net | — |  | 101,913 |  | 19,431 |  | — |  | 121,344 |
Other assets | 6,057 |  | 96,337 |  | 4,332 |  | (9,459 | ) | 97,267 |
Investments in subsidiaries | 1,861,509 |  | (3,510 | ) | — |  | (1,857,999 | ) | — |
Advances to affiliates | — |  | 513,283 |  | 2,906 |  | (516,189 | ) | — |
Total assets | $ | 1,892,756 |  | $ | 2,680,496 |  | $ | 85,817 |  | $ | (2,383,647 | ) | $ | 2,275,422 |
Current liabilities: |  |  |  |  |
Accounts payable and accrued liabilities | $ | 6,600 |  | $ | 256,094 |  | $ | 6,825 |  | $ | — |  | $ | 269,519 |
Income taxes payable | 42,822 |  | — |  | — |  | — |  | 42,822 |
Long-term debt due within one year | — |  | 775 |  | 219 |  | — |  | 994 |
Total current liabilities | 49,422 |  | 256,869 |  | 7,044 |  | — |  | 313,335 |
Advances from affiliates | 516,189 |  | — |  | — |  | (516,189 | ) | — |
Long-term debt | 390,000 |  | 348,190 |  | 57,738 |  | — |  | 795,928 |
Other long-term liabilities | 27,851 |  | 213,928 |  | 10,586 |  | (9,459 | ) | 242,906 |
Deferred income taxes | 85,426 |  | — |  | (42 | ) | — |  | 85,384 |
Total Vail Resorts, Inc. stockholders’ equity | 823,868 |  | 1,861,509 |  | (3,510 | ) | (1,857,999 | ) | 823,868 |
Noncontrolling interests | — |  | — |  | 14,001 |  | — |  | 14,001 |
Total stockholders’ equity | 823,868 |  | 1,861,509 |  | 10,491 |  | (1,857,999 | ) | 837,869 |
Total liabilities and stockholders’ equity | $ | 1,892,756 |  | $ | 2,680,496 |  | $ | 85,817 |  | $ | (2,383,647 | ) | $ | 2,275,422 |
Supplemental Condensed Consolidating Balance Sheet As of July 31, 2012 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Current assets: |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | 38,380 |  | $ | 7,673 |  | $ | — |  | $ | 46,053 |
Restricted cash | — |  | 13,300 |  | 984 |  | — |  | 14,284 |
Trade receivables, net | — |  | 64,185 |  | 1,558 |  | — |  | 65,743 |
Inventories, net | — |  | 65,673 |  | 200 |  | — |  | 65,873 |
Other current assets | 24,458 |  | 15,522 |  | 437 |  | — |  | 40,417 |
Total current assets | 24,458 |  | 197,060 |  | 10,852 |  | — |  | 232,370 |
Property, plant and equipment, net | — |  | 1,000,767 |  | 48,440 |  | — |  | 1,049,207 |
Real estate held for sale and investment | — |  | 237,668 |  | — |  | — |  | 237,668 |
Goodwill, net | — |  | 268,058 |  | 1,711 |  | — |  | 269,769 |
Intangible assets, net | — |  | 72,751 |  | 19,319 |  | — |  | 92,070 |
Other assets | 7,113 |  | 42,939 |  | 5,937 |  | (9,459 | ) | 46,530 |
Investments in subsidiaries | 1,775,195 |  | (553 | ) | — |  | (1,774,642 | ) | — |
Advances to affiliates | — |  | 418,001 |  | 3,114 |  | (421,115 | ) | — |
Total assets | $ | 1,806,766 |  | $ | 2,236,691 |  | $ | 89,373 |  | $ | (2,205,216 | ) | $ | 1,927,614 |
Current liabilities: |  |  |  |  |
Accounts payable and accrued liabilities | $ | 6,542 |  | $ | 215,308 |  | $ | 5,688 |  | $ | — |  | $ | 227,538 |
Income taxes payable | 20,721 |  | — |  | — |  | — |  | 20,721 |
Long-term debt due within one year | — |  | 782 |  | 208 |  | — |  | 990 |
Total current liabilities | 27,263 |  | 216,090 |  | 5,896 |  | — |  | 249,249 |
Advances from affiliates | 421,115 |  | — |  | — |  | (421,115 | ) | — |
Long-term debt | 390,000 |  | 41,817 |  | 57,958 |  | — |  | 489,775 |
Other long-term liabilities | 28,104 |  | 203,589 |  | 10,635 |  | (9,459 | ) | 232,869 |
Deferred income taxes | 137,973 |  | — |  | 1,420 |  | — |  | 139,393 |
Total Vail Resorts, Inc. stockholders’ equity | 802,311 |  | 1,775,195 |  | (553 | ) | (1,774,642 | ) | 802,311 |
Noncontrolling interests | — |  | — |  | 14,017 |  | — |  | 14,017 |
Total stockholders’ equity | 802,311 |  | 1,775,195 |  | 13,464 |  | (1,774,642 | ) | 816,328 |
Total liabilities and stockholders’ equity | $ | 1,806,766 |  | $ | 2,236,691 |  | $ | 89,373 |  | $ | (2,205,216 | ) | $ | 1,927,614 |
Supplemental Condensed Consolidating Statement Of Operations | Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2013 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Total net revenue | $ | — |  | $ | 1,114,952 |  | $ | 18,127 |  | $ | (12,282 | ) | $ | 1,120,797 |
Total operating expense | 516 |  | 1,014,314 |  | 21,144 |  | (12,130 | ) | 1,023,844 |
(Loss) income from operations | (516 | ) | 100,638 |  | (3,017 | ) | (152 | ) | 96,953 |
Other expense, net | (26,411 | ) | (11,023 | ) | (1,333 | ) | 152 |  | (38,615 | )
Equity investment income, net | — |  | 891 |  | — |  | — |  | 891 |
(Loss) income before benefit (provision) for income taxes | (26,927 | ) | 90,506 |  | (4,350 | ) | — |  | 59,229 |
Benefit (provision) for income taxes | 9,901 |  | (31,974 | ) | 454 |  | — |  | (21,619 | )
Net (loss) income before equity in income (loss) of consolidated subsidiaries | (17,026 | ) | 58,532 |  | (3,896 | ) | — |  | 37,610 |
Equity in income (loss) of consolidated subsidiaries | 54,769 |  | (3,763 | ) | — |  | (51,006 | ) | — |
Net income (loss) | 37,743 |  | 54,769 |  | (3,896 | ) | (51,006 | ) | 37,610 |
Net loss attributable to noncontrolling interests | — |  | — |  | 133 |  | — |  | 133 |
Net income (loss) attributable to Vail Resorts, Inc. | $ | 37,743 |  | $ | 54,769 |  | $ | (3,763 | ) | $ | (51,006 | ) | $ | 37,743 |
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2012 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Total net revenue | $ | — |  | $ | 1,020,847 |  | $ | 14,997 |  | $ | (11,450 | ) | $ | 1,024,394 |
Total operating expense | 181 |  | 959,038 |  | 17,142 |  | (11,298 | ) | 965,063 |
(Loss) income from operations | (181 | ) | 61,809 |  | (2,145 | ) | (152 | ) | 59,331 |
Other expense, net | (26,520 | ) | (5,372 | ) | (1,377 | ) | 152 |  | (33,117 | )
Equity investment income, net | — |  | 878 |  | — |  | — |  | 878 |
(Loss) income before benefit (provision) for income taxes | (26,701 | ) | 57,315 |  | (3,522 | ) | — |  | 27,092 |
Benefit (provision) for income taxes | 10,968 |  | (21,669 | ) | — |  | — |  | (10,701 | )
Net (loss) income before equity in income (loss) of consolidated subsidiaries | (15,733 | ) | 35,646 |  | (3,522 | ) | — |  | 16,391 |
Equity in income (loss) of consolidated subsidiaries | 32,186 |  | (3,460 | ) | — |  | (28,726 | ) | — |
Net income (loss) | 16,453 |  | 32,186 |  | (3,522 | ) | (28,726 | ) | 16,391 |
Net loss attributable to noncontrolling interests | — |  | — |  | 62 |  | — |  | 62 |
Net income (loss) attributable to Vail Resorts, Inc. | $ | 16,453 |  | $ | 32,186 |  | $ | (3,460 | ) | $ | (28,726 | ) | $ | 16,453 |
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2011 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Total net revenue | $ | — |  | $ | 1,166,706 |  | $ | 12,212 |  | $ | (11,872 | ) | $ | 1,167,046 |
Total operating expense | 522 |  | 1,070,054 |  | 13,718 |  | (11,720 | ) | 1,072,574 |
(Loss) income from operations | (522 | ) | 96,652 |  | (1,506 | ) | (152 | ) | 94,472 |
Other expense, net | (34,244 | ) | (4,908 | ) | (1,294 | ) | 152 |  | (40,294 | )
Equity investment income, net | — |  | 1,342 |  | — |  | — |  | 1,342 |
(Loss) income before benefit (provision) for income taxes | (34,766 | ) | 93,086 |  | (2,800 | ) | — |  | 55,520 |
Benefit (provision) for income taxes | 14,235 |  | (35,333 | ) | — |  | — |  | (21,098 | )
Net (loss) income before equity in income (loss) of consolidated subsidiaries | (20,531 | ) | 57,753 |  | (2,800 | ) | — |  | 34,422 |
Equity in income (loss) of consolidated subsidiaries | 55,020 |  | (2,733 | ) | — |  | (52,287 | ) | — |
Net income (loss) | 34,489 |  | 55,020 |  | (2,800 | ) | (52,287 | ) | 34,422 |
Net loss attributable to noncontrolling interests | — |  | — |  | 67 |  | — |  | 67 |
Net income (loss) attributable to Vail Resorts, Inc. | $ | 34,489 |  | $ | 55,020 |  | $ | (2,733 | ) | $ | (52,287 | ) | $ | 34,489 |
Supplemental Condensed Consolidating Statement Of Cash Flows | Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2013 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Consolidated
Net cash (used in) provided by operating activities | $ | (2,845 | ) | $ | 225,434 |  | $ | (166 | ) | $ | 222,423 |
Cash flows from investing activities: |  |  |  |
Capital expenditures | — |  | (94,041 | ) | (905 | ) | (94,946 | )
Acquisition of businesses | — |  | (19,958 | ) | — |  | (19,958 | )
Proceeds from sale of real property | — |  | 11,090 |  | — |  | 11,090 |
Other investing activities, net | — |  | (4,344 | ) | (80 | ) | (4,424 | )
Net cash used in investing activities | — |  | (107,253 | ) | (985 | ) | (108,238 | )
Cash flows from financing activities: |  |  |  |
Proceeds from borrowings under other long-term debt | — |  | 96,000 |  | — |  | 96,000 |
Payments of other long-term debt | — |  | (96,803 | ) | (208 | ) | (97,011 | )
Dividends paid | (28,362 | ) | — |  | — |  | (28,362 | )
Other financing activities, net | 4,565 |  | 2,177 |  | 841 |  | 7,583 |
Advances from (to) affiliates | 26,642 |  | (26,867 | ) | 225 |  | — |
Net cash provided by (used in) financing activities | 2,845 |  | (25,493 | ) | 858 |  | (21,790 | )
Effect of exchange rate changes on cash and cash equivalents | — |  | (98 | ) | 254 |  | 156 |
Net increase (decrease) in cash and cash equivalents | — |  | 92,590 |  | (39 | ) | 92,551 |
Cash and cash equivalents: |  |  |  |
Beginning of period | — |  | 38,380 |  | 7,673 |  | 46,053 |
End of period | $ | — |  | $ | 130,970 |  | $ | 7,634 |  | $ | 138,604 |
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2012 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Consolidated
Net cash (used in) provided by operating activities | $ | (6,789 | ) | $ | 191,831 |  | $ | 377 |  | $ | 185,419 |
Cash flows from investing activities: |  |  |  |
Capital expenditures | — |  | (132,025 | ) | (600 | ) | (132,625 | )
Acquisition of business | — |  | (24,311 | ) | 832 |  | (23,479 | )
Other investing activities, net | — |  | 150 |  | — |  | 150 |
Net cash (used in) provided by investing activities | — |  | (156,186 | ) | 232 |  | (155,954 | )
Cash flows from financing activities: |  |  |  |
Proceeds from borrowings under other long-term debt | — |  | 56,000 |  | — |  | 56,000 |
Payments of other long-term debt | — |  | (56,855 | ) | (197 | ) | (57,052 | )
Repurchases of common stock | (30,365 | ) | — |  | — |  | (30,365 | )
Dividends paid | (24,249 | ) | — |  | — |  | (24,249 | )
Other financing activities, net | 1,637 |  | 400 |  | 107 |  | 2,144 |
Advances from (to) affiliates | 59,766 |  | (60,175 | ) | 409 |  | — |
Net cash provided by (used in) financing activities | 6,789 |  | (60,630 | ) | 319 |  | (53,522 | )
Effect of exchange rate changes on cash and cash equivalents | — |  | — |  | (33 | ) | (33 | )
Net (decrease) increase in cash and cash equivalents | — |  | (24,985 | ) | 895 |  | (24,090 | )
Cash and cash equivalents: |  |  |  |
Beginning of period | — |  | 63,365 |  | 6,778 |  | 70,143 |
End of period | $ | — |  | $ | 38,380 |  | $ | 7,673 |  | $ | 46,053 |
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2011 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Consolidated
Net cash (used in ) provided by operating activities | $ | (2,659 | ) | $ | 268,602 |  | $ | 1,344 |  | $ | 267,287 |
Cash flows from investing activities: |  |  |  |
Capital expenditures | — |  | (95,568 | ) | (72 | ) | (95,640 | )
Acquisition of business | — |  | (62,344 | ) | — |  | (62,344 | )
Other investing activities, net | — |  | (204 | ) | — |  | (204 | )
Net cash used in investing activities | — |  | (158,116 | ) | (72 | ) | (158,188 | )
Cash flows from financing activities: |  |  |  |
Proceeds from borrowings under other long-term debt | — |  | 189,000 |  | — |  | 189,000 |
Payments of other long-term debt | — |  | (226,674 | ) | (187 | ) | (226,861 | )
Proceeds from borrowings under the 6.50% Notes | 390,000 |  | — |  | — |  | 390,000 |
Payment of tender of 6.75% Notes | (390,000 | ) | — |  | — |  | (390,000 | )
Payment of financing costs | (9,331 | ) | (3,069 | ) | — |  | (12,400 | )
Dividends paid | (5,411 | ) | — |  | — |  | (5,411 | )
Other financing activities, net | 1,319 |  | (1,055 | ) | 1,707 |  | 1,971 |
Advances | 16,082 |  | (16,638 | ) | 556 |  | — |
Net cash provided by (used in) financing activities | 2,659 |  | (58,436 | ) | 2,076 |  | (53,701 | )
Net increase in cash and cash equivalents | — |  | 52,050 |  | 3,348 |  | 55,398 |
Cash and cash equivalents: |  |  |  |
Beginning of period | — |  | 11,315 |  | 3,430 |  | 14,745 |
End of period | $ | — |  | $ | 63,365 |  | $ | 6,778 |  | $ | 70,143 |
Supplemental Statement of Comprehensive Income [Text Block] | Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss) For the year ended July 31, 2013 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Net income (loss) | $ | 37,743 |  | $ | 54,769 |  | $ | (3,896 | ) | $ | (51,006 | ) | $ | 37,610 |
Foreign currency translation adjustments, net of tax | 188 |  | 188 |  | 188 |  | (376 | ) | 188 |
Comprehensive income (loss) | 37,931 |  | 54,957 |  | (3,708 | ) | (51,382 | ) | 37,798 |
Comprehensive loss attributable to noncontrolling interests | — |  | — |  | 133 |  | — |  | 133 |
Comprehensive income (loss) attributable to Vail Resorts, Inc. | $ | 37,931 |  | $ | 54,957 |  | $ | (3,575 | ) | $ | (51,382 | ) | $ | 37,931 |
Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss) For the year ended July 31, 2012 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Net income (loss) | $ | 16,453 |  | $ | 32,186 |  | $ | (3,522 | ) | $ | (28,726 | ) | $ | 16,391 |
Foreign currency translation adjustments, net of tax | (255 | ) | (255 | ) | (255 | ) | 510 |  | (255 | )
Comprehensive income (loss) | 16,198 |  | 31,931 |  | (3,777 | ) | (28,216 | ) | 16,136 |
Comprehensive loss attributable to noncontrolling interests | — |  | — |  | 62 |  | — |  | 62 |
Comprehensive income (loss) attributable to Vail Resorts, Inc. | $ | 16,198 |  | $ | 31,931 |  | $ | (3,715 | ) | $ | (28,216 | ) | $ | 16,198 |
Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss) For the year ended July 31, 2011 (in thousands)
| Parent Company | 100% Owned Guarantor Subsidiaries | Other Subsidiaries | Eliminating Entries | Consolidated
Net income (loss) | $ | 34,489 |  | $ | 55,020 |  | $ | (2,800 | ) | $ | (52,287 | ) | $ | 34,422 |
Foreign currency translation adjustments, net of tax | — |  | — |  | — |  | — |  | — |
Comprehensive income (loss) | 34,489 |  | 55,020 |  | (2,800 | ) | (52,287 | ) | 34,422 |
Comprehensive loss attributable to noncontrolling interests | — |  | — |  | 67 |  | — |  | 67 |
Comprehensive income (loss) attributable to Vail Resorts, Inc. | $ | 34,489 |  | $ | 55,020 |  | $ | (2,733 | ) | $ | (52,287 | ) | $ | 34,489 |

X
- Details
Name: | mtn_GuarantorSubsidiariesAndNonGuarantorSubsidiaries
Namespace Prefix: | mtn_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed consolidated balance sheet for the periods presented. + References No definition available. + Details
Name: | mtn_SupplementalBalanceSheetTableTextBlock
Namespace Prefix: | mtn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed consolidating cash flows for the periods presented. + References No definition available. + Details
Name: | mtn_SupplementalCondensedConsolidatingStatementOfCashFlowsTableTextBlock
Namespace Prefix: | mtn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condenses consolidating statement of comprehensive income for the periods presented. + References No definition available. + Details
Name: | mtn_SupplementalStatementofComprehensiveIncomeTextBlock
Namespace Prefix: | mtn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed consolidating statement of operations for the periods presented. + References No definition available. + Details
Name: | mtn_SupplementalStatementOfOperationsTableTextBlock
Namespace Prefix: | mtn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration