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Share Repurchase Program
9 Months Ended
Apr. 30, 2017
Payments for Repurchase of Equity [Abstract]  
Share Repurchase Program
Share Repurchase Program
On March 9, 2006, the Company’s Board of Directors approved a share repurchase program, authorizing the Company to repurchase up to 3,000,000 Vail Shares. On July 16, 2008, the Company’s Board of Directors increased the authorization by an additional 3,000,000 Vail Shares, and on December 4, 2015, the Company’s Board of Directors increased the authorization by an additional 1,500,000 Vail Shares for a total authorization to repurchase up to 7,500,000 total shares. The Company repurchased zero Vail Shares and 1,317 Vail Shares (at a total cost of $0.2 million), respectively, during the three and nine months ended April 30, 2017. The Company repurchased 108,036 Vail Shares (at a total cost of $13.8 million) and 485,866 Vail Shares (at a total cost of $53.8 million), respectively, during the three and nine months ended April 30, 2016. Since inception of its share repurchase program through April 30, 2017, the Company has repurchased 5,436,294 Vail Shares for $247.2 million. As of April 30, 2017, 2,063,706 Vail Shares remained available to repurchase under the existing share repurchase program which has no expiration date. Vail Shares purchased pursuant to the repurchase program will be held as treasury shares and may be used for the issuance of Vail Shares under the Company’s employee share award plan.