Net Income Per Common Share (Tables)

3 Months Ended

9 Months Ended

Apr. 30, 2023

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, 2023 and 2022 (in thousands, except per share amounts):



	Three Months Ended April 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	325,006	$	325,006	$	372,550	$	372,550
Weighted-average Vail Shares outstanding	39,620		39,620		40,537		40,537
Weighted-average Exchangeco Shares outstanding	—		—		31		31
Total Weighted-average shares outstanding	39,620		39,620		40,568		40,568
Effect of dilutive securities	—		104		—		110
Total shares	39,620		39,724		40,568		40,678
Net income per share attributable to Vail Resorts	$	8.20	$	8.18	$	9.18	$	9.16

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 24,000 and 8,000 for the three months ended April 30, 2023 and 2022, respectively.

Presented below is basic and diluted EPS for the nine months ended April 30, 2023 and 2022 (in thousands, except per share amounts):



	Nine Months Ended April 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	396,714	$	396,714	$	456,609	$	456,609
Weighted-average Vail Shares outstanding	40,081		40,081		40,485		40,485
Weighted-average Exchangeco Shares outstanding	1		1		33		33
Total Weighted-average shares outstanding	40,082		40,082		40,518		40,518
Effect of dilutive securities	—		98		—		266
Total shares	40,082		40,180		40,518		40,784
Net income per share attributable to Vail Resorts	$	9.90	$	9.87	$	11.27	$	11.20

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 25,000 and 3,000 for the nine months ended April 30, 2023 and 2022, respectively.