XML 17 R25.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Information (Tables)
 6 Months Ended
Jan. 31, 2013
Segment Reporting [Abstract]  
Summary Of Financial Information By Reportable Segment
The following table presents financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):
 
 
 
Three Months Ended January 31,
 
Six Months Ended January 31,
 
 
2013
 
2012
 
2013
 
2012
Net revenue:
 
 
 
 
 
 
 
 
Lift tickets
 
$
175,658

 
$
153,699

 
$
175,658

 
$
153,699

Ski school
 
41,723

 
37,252

 
41,723

 
37,252

Dining
 
29,826

 
24,722

 
36,199

 
30,369

Retail/rental
 
83,748

 
73,850

 
110,473

 
100,814

Other
 
30,786

 
26,415

 
49,600

 
43,474

Total Mountain net revenue
 
361,741

 
315,938

 
413,653

 
365,608

Lodging
 
46,543

 
48,306

 
99,051

 
101,900

Total Resort net revenue
 
408,284

 
364,244

 
512,704

 
467,508

Real estate
 
14,167

 
9,088

 
26,097

 
22,197

Total net revenue
 
$
422,451

 
$
373,332

 
$
538,801

 
$
489,705

Operating expense:
 
 
 
 
 
 
 
 
Mountain
 
$
220,997

 
$
195,489

 
$
328,545

 
$
294,044

Lodging
 
44,803

 
47,093

 
96,609

 
102,394

Total Resort operating expense
 
265,800

 
242,582

 
425,154

 
396,438

Real estate
 
16,739

 
12,563

 
32,353

 
30,410

Total segment operating expense
 
$
282,539

 
$
255,145

 
$
457,507

 
$
426,848

Mountain equity investment income, net
 
$
99

 
$
178

 
$
533

 
$
608

Reported EBITDA:
 
 
 
 
 
 
 
 
Mountain
 
$
140,843

 
$
120,627

 
$
85,641

 
$
72,172

Lodging
 
1,740

 
1,213

 
2,442

 
(494
)
Resort
 
142,583

 
121,840

 
88,083

 
71,678

Real estate
 
(2,572
)
 
(3,475
)
 
(6,256
)
 
(8,213
)
Total Reported EBITDA
 
$
140,011

 
$
118,365

 
$
81,827

 
$
63,465

 
 
 
 
 
 
 
 
 
Real estate held for sale and investment
 
$
216,815

 
$
257,169

 
$
216,815

 
$
257,169

 
 
 
 
 
 
 
 
 
Reconciliation to net income (loss) attributable to Vail Resorts, Inc.:
 
 
 
 
 
 
 
 
Total Reported EBITDA
 
$
140,011

 
$
118,365

 
$
81,827

 
$
63,465

Depreciation and amortization
 
(33,418
)
 
(33,050
)
 
(65,097
)
 
(61,980
)
Loss on disposal of fixed assets, net
 
(531
)
 
(919
)
 
(533
)
 
(1,033
)
Investment income, net
 
99

 
310

 
153

 
374

Interest expense, net
 
(8,534
)
 
(8,542
)
 
(16,909
)
 
(16,783
)
Income (loss) before (provision) benefit from income taxes
 
97,627

 
76,164

 
(559
)
 
(15,957
)
(Provision) benefit from income taxes
 
(37,098
)
 
(29,743
)
 
485

 
6,644

Net income (loss)
 
$
60,529

 
$
46,421

 
$
(74
)
 
$
(9,313
)
Net loss (income) attributable to noncontrolling interests
 
22

 
(32
)
 
45

 
(7
)
Net income (loss) attributable to Vail Resorts, Inc.
 
$
60,551

 
$
46,389

 
$
(29
)
 
$
(9,320
)