XML 66 R27.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Information (Tables)
6 Months Ended
Jan. 31, 2015
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,
 
2015
 
2014
 
2015
 
2014
Net revenue:
 
 
 
 
 
 
 
Lift
$
239,288

 
$
195,357

 
$
239,288

 
$
195,357

Ski school
57,295

 
46,930

 
57,295

 
46,930

Dining
38,619

 
32,602

 
46,658

 
40,066

Retail/rental
95,012

 
85,717

 
124,485

 
114,616

Other
32,817

 
31,050

 
55,691

 
52,018

Total Mountain net revenue
463,031

 
391,656

 
523,417

 
448,987

Lodging
59,364

 
56,187

 
117,857

 
113,401

Total Resort net revenue
522,395

 
447,843

 
641,274

 
562,388

Real estate
7,842

 
4,877

 
17,225

 
13,723

Total net revenue
$
530,237

 
$
452,720

 
$
658,499

 
$
576,111

Operating expense:
 
 
 
 
 
 
 
Mountain
$
268,966

 
$
243,512

 
$
400,918

 
$
368,286

Lodging
53,927

 
53,259

 
111,681

 
110,164

Total Resort operating expense
322,893

 
296,771

 
512,599

 
478,450

Real estate
9,871

 
8,006

 
21,485

 
17,237

Total segment operating expense
$
332,764

 
$
304,777

 
$
534,084

 
$
495,687

Gain on litigation settlement
$

 
$

 
$
16,400

 
$

Mountain equity investment income, net
200

 
14

 
525

 
617

Reported EBITDA:
 
 
 
 
 
 
 
Mountain
$
194,265

 
$
148,158

 
$
139,424

 
$
81,318

Lodging
5,437

 
2,928

 
6,176

 
3,237

Resort
199,702

 
151,086

 
145,600

 
84,555

Real estate
(2,029
)
 
(3,129
)
 
(4,260
)
 
(3,514
)
Total Reported EBITDA
$
197,673

 
$
147,957

 
$
141,340

 
$
81,041

 
 
 
 
 
 
 
 
Real estate held for sale and investment
$
151,103

 
$
184,101

 
$
151,103

 
$
184,101

 
 
 
 
 
 
 
 
Reconciliation to net income (loss) attributable to Vail Resorts, Inc.:
 
 
 
 
 
 
 
Total Reported EBITDA
$
197,673

 
$
147,957

 
$
141,340

 
$
81,041

Depreciation and amortization
(37,376
)
 
(36,204
)
 
(73,345
)
 
(70,360
)
Change in fair value of contingent consideration

 

 
4,550

 

Loss on disposal of fixed assets and other, net
(26
)
 
(1,044
)
 
(781
)
 
(1,473
)
Investment income, net
62

 
70

 
36

 
165

Interest expense
(13,807
)
 
(16,239
)
 
(27,375
)
 
(32,337
)
Income (loss) before (provision) benefit from income taxes
146,526

 
94,540

 
44,425

 
(22,964
)
(Provision) benefit from income taxes
(30,826
)
 
(35,340
)
 
6,951

 
8,727

Net income (loss)
$
115,700

 
$
59,200

 
$
51,376

 
$
(14,237
)
Net loss attributable to noncontrolling interests
62

 
63

 
110

 
124

Net income (loss) attributable to Vail Resorts, Inc.
$
115,762

 
$
59,263

 
$
51,486

 
$
(14,113
)