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Net Income Per Common Share | 9 Months Ended
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Apr. 30, 2015
Earnings Per Share Reconciliation [Abstract] |
Net Income Per Common Share | Net Income Per Common Share Basic earnings per share (“EPS”) excludes dilution and is computed by dividing net income attributable to Vail Resorts stockholders by the weighted-average shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then participate in the earnings of Vail Resorts. Presented below is basic and diluted EPS for the three months ended April 30, 2015 and 2014 (in thousands, except per share amounts):
|  | Three Months Ended April 30,
|  | 2015 |  | 2014
|  | Basic |  | Diluted |  | Basic |  | Diluted
Net income per share: |  |  |  |  |  |  |  |
Net income attributable to Vail Resorts |  | $ | 133,410 |  |  | $ | 133,410 |  |  | $ | 117,946 |  |  | $ | 117,946 |
Weighted-average shares outstanding |  | 36,354 |  |  | 36,354 |  |  | 36,159 |  |  | 36,159 |
Effect of dilutive securities |  | — |  |  | 1,099 |  |  | — |  |  | 895 |
Total shares |  | 36,354 |  |  | 37,453 |  |  | 36,159 |  |  | 37,054 |
Net income per share attributable to Vail Resorts |  | $ | 3.67 |  |  | $ | 3.56 |  |  | $ | 3.26 |  |  | $ | 3.18 |
The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled 15,000 and 4,000 for the three months ended April 30, 2015 and 2014, respectively. Presented below is basic and diluted EPS for the nine months ended April 30, 2015 and 2014 (in thousands, except per share amounts):
|  | Nine Months Ended April 30,
|  | 2015 |  | 2014
|  | Basic |  | Diluted |  | Basic |  | Diluted
Net income per share: |  |  |  |  |  |  |  |
Net income attributable to Vail Resorts |  | $ | 184,896 |  |  | $ | 184,896 |  |  | $ | 103,833 |  |  | $ | 103,833 |
Weighted-average shares outstanding |  | 36,310 |  |  | 36,310 |  |  | 36,105 |  |  | 36,105 |
Effect of dilutive securities |  | — |  |  | 1,052 |  |  | — |  |  | 920 |
Total shares |  | 36,310 |  |  | 37,362 |  |  | 36,105 |  |  | 37,025 |
Net income per share attributable to Vail Resorts |  | $ | 5.09 |  |  | $ | 4.95 |  |  | $ | 2.88 |  |  | $ | 2.80 |
The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled 5,000 and 11,000 for the nine months ended April 30, 2015 and 2014, respectively. During the three and nine months ended April 30, 2015, the Company paid dividends of $0.6225 and $1.4525 per share, respectively ($22.6 million and $52.8 million, respectively, in the aggregate). During the three and nine months ended April 30, 2014, the Company paid dividends of $0.4150 and $0.8300 per share, respectively ($15.0 million and $30.0 million, respectively, in the aggregate). On June 5, 2015 the Company’s Board of Directors declared a quarterly cash dividend of $0.6225 per share payable on July 10, 2015 to stockholders of record as of June 25, 2015.

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