Net Income Per Common Share (Tables)

3 Months Ended

9 Months Ended

Apr. 30, 2022

Earnings Per Share Reconciliation [Abstract]

Summary of Calculation of Basic And Diluted EPS

Presented below is basic and diluted EPS for the three months ended April 30, 2022 and 2021 (in thousands, except per share amounts):



	Three Months Ended April 30,
	2022				2021
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	372,550	$	372,550	$	274,629	$	274,629
Weighted-average Vail Shares outstanding	40,537		40,537		40,262		40,262
Weighted-average Exchangeco Shares outstanding	31		31		34		34
Total Weighted-average shares outstanding	40,568		40,568		40,296		40,296
Effect of dilutive securities	—		110		—		600
Total shares	40,568		40,678		40,296		40,896
Net income per share attributable to Vail Resorts	$	9.18	$	9.16	$	6.82	$	6.72

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 upon the exercise of share-based awards excluded from the calculation of diluted EPS because the effect of their inclusion would have been anti-dilutive totaled approximately 8,000 and 1,000 for the three months ended April 30, 2022 and 2021, respectively.

Presented below is basic and diluted EPS for the nine months ended April 30, 2022 and 2021 (in thousands, except per share amounts):



	Nine Months Ended April 30,
	2022				2021
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	456,609	$	456,609	$	268,661	$	268,661
Weighted-average Vail Shares outstanding	40,485		40,485		40,242		40,242
Weighted-average Exchangeco Shares outstanding	33		33		35		35
Total Weighted-average shares outstanding	40,518		40,518		40,277		40,277
Effect of dilutive securities	—		266		—		530
Total shares	40,518		40,784		40,277		40,807
Net income per share attributable to Vail Resorts	$	11.27	$	11.20	$	6.67	$	6.58

The number of shares issuable upon the exercise of share-based awards excluded from the calculation of diluted EPS because the effect of their inclusion would have been anti-dilutive totaled approximately 3,000 and 2,000 for the nine months ended April 30, 2022 and 2021, respectively.