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Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Tables) | 3 Months Ended
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Oct. 31, 2014
Guarantor Subsidiaries And Non Guarantor Subsidiaries |
Supplemental Condensed Consolidating Balance Sheet | Supplemental Consolidating Condensed Balance Sheet As of October 31, 2014 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 20,598 |  |  | $ | 9,242 |  |  | $ | — |  |  | $ | 29,840 |
Restricted cash |  | — |  |  | 11,304 |  |  | 1,978 |  |  | — |  |  | 13,282 |
Trade receivables, net |  | — |  |  | 33,241 |  |  | 2,896 |  |  | — |  |  | 36,137 |
Inventories, net |  | — |  |  | 88,079 |  |  | 200 |  |  | — |  |  | 88,279 |
Other current assets |  | 30,857 |  |  | 33,256 |  |  | 339 |  |  | — |  |  | 64,452 |
Total current assets |  | 30,857 |  |  | 186,478 |  |  | 14,655 |  |  | — |  |  | 231,990 |
Property, plant and equipment, net |  | — |  |  | 1,254,155 |  |  | 41,375 |  |  | — |  |  | 1,295,530 |
Real estate held for sale and investment |  | — |  |  | 170,182 |  |  | — |  |  | — |  |  | 170,182 |
Goodwill, net |  | — |  |  | 455,348 |  |  | 1,544 |  |  | — |  |  | 456,892 |
Intangible assets, net |  | — |  |  | 124,901 |  |  | 19,197 |  |  | — |  |  | 144,098 |
Other assets |  | 2,617 |  |  | 45,551 |  |  | 3,988 |  |  | (9,980 | ) |  | 42,176 |
Investments in subsidiaries |  | 1,882,979 |  |  | (8,865 | ) |  | — |  |  | (1,874,114 | ) |  | — |
Advances to affiliates |  | — |  |  | — |  |  | 2,448 |  |  | (2,448 | ) |  | — |
Total assets |  | $ | 1,916,453 |  |  | $ | 2,227,750 |  |  | $ | 83,207 |  |  | $ | (1,886,542 | ) |  | $ | 2,340,868 |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 7,267 |  |  | $ | 373,235 |  |  | $ | 9,768 |  |  | $ | — |  |  | $ | 390,270 |
Income taxes payable |  | 31,604 |  |  | — |  |  | — |  |  | — |  |  | 31,604 |
Long-term debt due within one year |  | — |  |  | 778 |  |  | 244 |  |  | — |  |  | 1,022 |
Total current liabilities |  | 38,871 |  |  | 374,013 |  |  | 10,012 |  |  | — |  |  | 422,896 |
Advances from affiliates |  | 783,910 |  |  | 2,448 |  |  | — |  |  | (786,358 | ) |  | — |
Long-term debt |  | 215,000 |  |  | 546,975 |  |  | 57,263 |  |  | — |  |  | 819,238 |
Other long-term liabilities |  | 48,875 |  |  | 205,245 |  |  | 11,046 |  |  | (9,980 | ) |  | 255,186 |
Deferred income taxes |  | 85,072 |  |  | — |  |  | (210 | ) |  | — |  |  | 84,862 |
Total Vail Resorts, Inc. stockholders’ equity (deficit) |  | 744,725 |  |  | 1,882,979 |  |  | (8,865 | ) |  | (1,874,114 | ) |  | 744,725 |
Advances to Parent |  | — |  |  | (783,910 | ) |  | — |  |  | 783,910 |  |  | — |
Noncontrolling interests |  | — |  |  | — |  |  | 13,961 |  |  | — |  |  | 13,961 |
Total stockholders’ equity |  | 744,725 |  |  | 1,099,069 |  |  | 5,096 |  |  | (1,090,204 | ) |  | 758,686 |
Total liabilities and stockholders’ equity |  | $ | 1,916,453 |  |  | $ | 2,227,750 |  |  | $ | 83,207 |  |  | $ | (1,886,542 | ) |  | $ | 2,340,868 |
Supplemental Consolidating Condensed Balance Sheet As of July 31, 2014 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 35,070 |  |  | $ | 9,336 |  |  | $ | — |  |  | $ | 44,406 |
Restricted cash |  | — |  |  | 11,321 |  |  | 1,860 |  |  | — |  |  | 13,181 |
Trade receivables, net |  | — |  |  | 94,390 |  |  | 1,587 |  |  | — |  |  | 95,977 |
Inventories, net |  | — |  |  | 66,988 |  |  | 195 |  |  | — |  |  | 67,183 |
Other current assets |  | 29,249 |  |  | 24,736 |  |  | 314 |  |  | — |  |  | 54,299 |
Total current assets |  | 29,249 |  |  | 232,505 |  |  | 13,292 |  |  | — |  |  | 275,046 |
Property, plant and equipment, net |  | — |  |  | 1,105,830 |  |  | 42,160 |  |  | — |  |  | 1,147,990 |
Real estate held for sale and investment |  | — |  |  | 157,858 |  |  | — |  |  | — |  |  | 157,858 |
Goodwill, net |  | — |  |  | 376,491 |  |  | 1,657 |  |  | — |  |  | 378,148 |
Intangible assets, net |  | — |  |  | 98,227 |  |  | 19,296 |  |  | — |  |  | 117,523 |
Other assets |  | 2,762 |  |  | 100,365 |  |  | 4,137 |  |  | (9,980 | ) |  | 97,284 |
Investments in subsidiaries |  | 1,945,001 |  |  | (7,188 | ) |  | — |  |  | (1,937,813 | ) |  | — |
Advances to affiliates |  | — |  |  | — |  |  | 2,621 |  |  | (2,621 | ) |  | — |
Total assets |  | $ | 1,977,012 |  |  | $ | 2,064,088 |  |  | $ | 83,163 |  |  | $ | (1,950,414 | ) |  | $ | 2,173,849 |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 3,803 |  |  | $ | 277,738 |  |  | $ | 7,677 |  |  | $ | — |  |  | $ | 289,218 |
Income taxes payable |  | 33,966 |  |  | — |  |  | — |  |  | — |  |  | 33,966 |
Long-term debt due within one year |  | — |  |  | 791 |  |  | 231 |  |  | — |  |  | 1,022 |
Total current liabilities |  | 37,769 |  |  | 278,529 |  |  | 7,908 |  |  | — |  |  | 324,206 |
Advances from affiliates |  | 725,839 |  |  | 2,621 |  |  | — |  |  | (728,460 | ) |  | — |
Long-term debt |  | 215,000 |  |  | 353,093 |  |  | 57,507 |  |  | — |  |  | 625,600 |
Other long-term liabilities |  | 48,875 |  |  | 210,683 |  |  | 11,103 |  |  | (9,980 | ) |  | 260,681 |
Deferred income taxes |  | 128,686 |  |  | — |  |  | (124 | ) |  | — |  |  | 128,562 |
Total Vail Resorts, Inc. stockholders’ equity (deficit) |  | 820,843 |  |  | 1,945,001 |  |  | (7,188 | ) |  | (1,937,813 | ) |  | 820,843 |
Advances to Parent |  | — |  |  | (725,839 | ) |  | — |  |  | 725,839 |  |  | — |
Noncontrolling interests |  | — |  |  | — |  |  | 13,957 |  |  | — |  |  | 13,957 |
Total stockholders’ equity |  | 820,843 |  |  | 1,219,162 |  |  | 6,769 |  |  | (1,211,974 | ) |  | 834,800 |
Total liabilities and stockholders’ equity |  | $ | 1,977,012 |  |  | $ | 2,064,088 |  |  | $ | 83,163 |  |  | $ | (1,950,414 | ) |  | $ | 2,173,849 |
Supplemental Consolidating Condensed Balance Sheet As of October 31, 2013 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 107,053 |  |  | $ | 7,172 |  |  | $ | — |  |  | $ | 114,225 |
Restricted cash |  | — |  |  | 10,846 |  |  | 1,557 |  |  | — |  |  | 12,403 |
Trade receivables, net |  | 198 |  |  | 34,522 |  |  | 2,831 |  |  | — |  |  | 37,551 |
Inventories, net |  | — |  |  | 89,317 |  |  | 214 |  |  | — |  |  | 89,531 |
Other current assets |  | 26,524 |  |  | 29,674 |  |  | 1,136 |  |  | — |  |  | 57,334 |
Total current assets |  | 26,722 |  |  | 271,412 |  |  | 12,910 |  |  | — |  |  | 311,044 |
Property, plant and equipment, net |  | — |  |  | 1,140,942 |  |  | 44,571 |  |  | — |  |  | 1,185,513 |
Real estate held for sale and investment |  | — |  |  | 188,205 |  |  | — |  |  | — |  |  | 188,205 |
Goodwill, net |  | — |  |  | 377,740 |  |  | 1,760 |  |  | — |  |  | 379,500 |
Intangible assets, net |  | — |  |  | 101,071 |  |  | 19,418 |  |  | — |  |  | 120,489 |
Other assets |  | 5,796 |  |  | 97,473 |  |  | 4,188 |  |  | (9,459 | ) |  | 97,998 |
Investments in subsidiaries |  | 1,751,058 |  |  | (5,045 | ) |  | — |  |  | (1,746,013 | ) |  | — |
Advances to affiliates |  | — |  |  | — |  |  | 2,945 |  |  | (2,945 | ) |  | — |
Total assets |  | $ | 1,783,576 |  |  | $ | 2,171,798 |  |  | $ | 85,792 |  |  | $ | (1,758,417 | ) |  | $ | 2,282,749 |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | 12,877 |  |  | $ | 348,128 |  |  | $ | 8,546 |  |  | $ | — |  |  | $ | 369,551 |
Income taxes payable |  | 39,946 |  |  | — |  |  | — |  |  | — |  |  | 39,946 |
Long-term debt due within one year |  | — |  |  | 772 |  |  | 231 |  |  | — |  |  | 1,003 |
Total current liabilities |  | 52,823 |  |  | 348,900 |  |  | 8,777 |  |  | — |  |  | 410,500 |
Advances from affiliates |  | 492,580 |  |  | 2,945 |  |  | — |  |  | (495,525 | ) |  | — |
Long-term debt |  | 390,000 |  |  | 349,555 |  |  | 57,507 |  |  | — |  |  | 797,062 |
Other long-term liabilities |  | 27,673 |  |  | 211,920 |  |  | 10,591 |  |  | (9,459 | ) |  | 240,725 |
Deferred income taxes |  | 75,944 |  |  | — |  |  | (34 | ) |  | — |  |  | 75,910 |
Total Vail Resorts, Inc. stockholders’ equity (deficit) |  | 744,556 |  |  | 1,751,058 |  |  | (5,045 | ) |  | (1,746,013 | ) |  | 744,556 |
Advances to Parent |  | — |  |  | (492,580 | ) |  | — |  |  | 492,580 |  |  | — |
Noncontrolling interests |  | — |  |  | — |  |  | 13,996 |  |  | — |  |  | 13,996 |
Total stockholders’ equity |  | 744,556 |  |  | 1,258,478 |  |  | 8,951 |  |  | (1,253,433 | ) |  | 758,552 |
Total liabilities and stockholders’ equity |  | $ | 1,783,576 |  |  | $ | 2,171,798 |  |  | $ | 85,792 |  |  | $ | (1,758,417 | ) |  | $ | 2,282,749 |
Supplemental Condensed Consolidating Statement Of Operations | Supplemental Consolidating Condensed Statement of Operations For the three months ended October 31, 2014 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Total net revenue |  | $ | — |  |  | $ | 129,726 |  |  | $ | 2,642 |  |  | $ | (4,106 | ) |  | $ | 128,262 |
Total operating expense |  | 88 |  |  | 237,506 |  |  | 4,518 |  |  | (4,068 | ) |  | 238,044 |
Gain on litigation settlement |  | — |  |  | 16,400 |  |  | — |  |  | — |  |  | 16,400 |
Change in fair value of contingent consideration |  | — |  |  | 4,550 |  |  | — |  |  | — |  |  | 4,550 |
Loss from operations |  | (88 | ) |  | (86,830 | ) |  | (1,876 | ) |  | (38 | ) |  | (88,832 | )
Other expense, net |  | (3,639 | ) |  | (9,671 | ) |  | (322 | ) |  | 38 |  |  | (13,594 | )
Equity investment income, net |  | — |  |  | 325 |  |  | — |  |  | — |  |  | 325 |
Loss before benefit from income taxes |  | (3,727 | ) |  | (96,176 | ) |  | (2,198 | ) |  | — |  |  | (102,101 | )
Benefit from income taxes |  | 1,333 |  |  | 36,207 |  |  | 237 |  |  | — |  |  | 37,777 |
Net loss before equity in loss of consolidated subsidiaries |  | (2,394 | ) |  | (59,969 | ) |  | (1,961 | ) |  | — |  |  | (64,324 | )
Equity in loss of consolidated subsidiaries |  | (61,882 | ) |  | (1,913 | ) |  | — |  |  | 63,795 |  |  | — |
Net loss |  | (64,276 | ) |  | (61,882 | ) |  | (1,961 | ) |  | 63,795 |  |  | (64,324 | )
Net loss attributable to noncontrolling interests |  | — |  |  | — |  |  | 48 |  |  | — |  |  | 48 |
Net loss attributable to Vail Resorts, Inc. |  | $ | (64,276 | ) |  | $ | (61,882 | ) |  | $ | (1,913 | ) |  | $ | 63,795 |  |  | $ | (64,276 | )
Supplemental Consolidating Condensed Statement of Operations For the three months ended October 31, 2013 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Total net revenue |  | $ | — |  |  | $ | 123,488 |  |  | $ | 2,815 |  |  | $ | (2,912 | ) |  | $ | 123,391 |
Total operating expense |  | 92 |  |  | 223,528 |  |  | 4,749 |  |  | (2,874 | ) |  | 225,495 |
Loss from operations |  | (92 | ) |  | (100,040 | ) |  | (1,934 | ) |  | (38 | ) |  | (102,104 | )
Other expense, net |  | (6,601 | ) |  | (9,097 | ) |  | (343 | ) |  | 38 |  |  | (16,003 | )
Equity investment income, net |  | — |  |  | 603 |  |  | — |  |  | — |  |  | 603 |
Loss before benefit from income taxes |  | (6,693 | ) |  | (108,534 | ) |  | (2,277 | ) |  | — |  |  | (117,504 | )
Benefit from income taxes |  | 2,848 |  |  | 40,990 |  |  | 229 |  |  | — |  |  | 44,067 |
Net loss before equity in loss of consolidated subsidiaries |  | (3,845 | ) |  | (67,544 | ) |  | (2,048 | ) |  | — |  |  | (73,437 | )
Equity in loss of consolidated subsidiaries |  | (69,531 | ) |  | (1,987 | ) |  | — |  |  | 71,518 |  |  | — |
Net loss |  | (73,376 | ) |  | (69,531 | ) |  | (2,048 | ) |  | 71,518 |  |  | (73,437 | )
Net loss attributable to noncontrolling interests |  | — |  |  | — |  |  | 61 |  |  | — |  |  | 61 |
Net loss attributable to Vail Resorts, Inc. |  | $ | (73,376 | ) |  | $ | (69,531 | ) |  | $ | (1,987 | ) |  | $ | 71,518 |  |  | $ | (73,376 | )
SupplementalCondensedStatementofComprehensiveIncome [Text Block] | Statement of Comprehensive Income (Loss) For the three months ended October 31, 2014 (In thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Net loss |  | $ | (64,276 | ) |  | $ | (61,882 | ) |  | $ | (1,961 | ) |  | $ | 63,795 |  |  | $ | (64,324 | )
Foreign currency translation adjustments, net of tax |  | (140 | ) |  | (140 | ) |  | (140 | ) |  | 280 |  |  | (140 | )
Comprehensive loss |  | (64,416 | ) |  | (62,022 | ) |  | (2,101 | ) |  | 64,075 |  |  | (64,464 | )
Comprehensive loss attributable to noncontrolling interests |  | — |  |  | — |  |  | 48 |  |  | — |  |  | 48 |
Comprehensive loss attributable to Vail Resorts, Inc. |  | $ | (64,416 | ) |  | $ | (62,022 | ) |  | $ | (2,053 | ) |  | $ | 64,075 |  |  | $ | (64,416 | )
Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss) For the three months ended October 31, 2013 (In thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Eliminating Entries |  | Consolidated
Net loss |  | $ | (73,376 | ) |  | $ | (69,531 | ) |  | $ | (2,048 | ) |  | $ | 71,518 |  |  | $ | (73,437 | )
Foreign currency translation adjustments, net of tax |  | 11 |  |  | 11 |  |  | 11 |  |  | (22 | ) |  | 11 |
Comprehensive loss |  | (73,365 | ) |  | (69,520 | ) |  | (2,037 | ) |  | 71,496 |  |  | (73,426 | )
Comprehensive loss attributable to noncontrolling interests |  | — |  |  | — |  |  | 61 |  |  | — |  |  | 61 |
Comprehensive loss attributable to Vail Resorts, Inc. |  | $ | (73,365 | ) |  | $ | (69,520 | ) |  | $ | (1,976 | ) |  | $ | 71,496 |  |  | $ | (73,365 | )
Supplemental Condensed Consolidating Statement Of Cash Flows | Supplemental Consolidating Condensed Statement of Cash Flows For the three months ended October 31, 2014 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidated
Net cash (used in) provided by operating activities |  | $ | (38,937 | ) |  | $ | 63,073 |  |  | $ | 343 |  |  | $ | 24,479 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (27,471 | ) |  | (285 | ) |  | (27,756 | )
Acquisition of business |  | — |  |  | (182,500 | ) |  | — |  |  | (182,500 | )
Other investing activities, net |  | — |  |  | 617 |  |  | 12 |  |  | 629 |
Net cash used in investing activities |  | — |  |  | (209,354 | ) |  | (273 | ) |  | (209,627 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt |  | — |  |  | 213,000 |  |  | — |  |  | 213,000 |
Payments of other long-term debt |  | — |  |  | (30,022 | ) |  | (231 | ) |  | (30,253 | )
Dividends paid |  | (15,061 | ) |  | — |  |  | — |  |  | (15,061 | )
Other financing activities, net |  | 2,355 |  |  | 392 |  |  | 165 |  |  | 2,912 |
Advances |  | 51,643 |  |  | (51,643 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities |  | 38,937 |  |  | 131,727 |  |  | (66 | ) |  | 170,598 |
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  | 82 |  |  | (98 | ) |  | (16 | )
Net decrease in cash and cash equivalents |  | — |  |  | (14,472 | ) |  | (94 | ) |  | (14,566 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |
Beginning of period |  | — |  |  | 35,070 |  |  | 9,336 |  |  | 44,406 |
End of period |  | $ | — |  |  | $ | 20,598 |  |  | $ | 9,242 |  |  | $ | 29,840 |
Supplemental Consolidating Condensed Statement of Cash Flows For the three months ended October 31, 2013 (in thousands) (Unaudited)
|  | Parent Company |  | 100% Owned Guarantor Subsidiaries |  | Other Subsidiaries |  | Consolidated
Net cash (used in) provided by operating activities |  | $ | (44,375 | ) |  | $ | 61,344 |  |  | $ | (623 | ) |  | $ | 16,346 |
Cash flows from investing activities: |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (33,530 | ) |  | (274 | ) |  | (33,804 | )
Other investing activities, net |  | — |  |  | 93 |  |  | 7 |  |  | 100 |
Net cash used in investing activities |  | — |  |  | (33,437 | ) |  | (267 | ) |  | (33,704 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |
Dividends paid |  | (7,489 | ) |  | — |  |  | — |  |  | (7,489 | )
Other financing activities, net |  | 2,969 |  |  | (2,858 | ) |  | 334 |  |  | 445 |
Advances |  | 48,895 |  |  | (48,895 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities |  | 44,375 |  |  | (51,753 | ) |  | 334 |  |  | (7,044 | )
Effect of exchange rate changes on cash and cash equivalents |  | — |  |  | (71 | ) |  | 94 |  |  | 23 |
Net decrease in cash and cash equivalents |  | — |  |  | (23,917 | ) |  | (462 | ) |  | (24,379 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |
Beginning of period |  | — |  |  | 130,970 |  |  | 7,634 |  |  | 138,604 |
End of period |  | $ | — |  |  | $ | 107,053 |  |  | $ | 7,172 |  |  | $ | 114,225 |

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