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Revision of Previously Issued Consolidated Financial Statements (Tables)

12 Months Ended

Jul. 31, 2025

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The revisions include corrections of previously identified errors to the Consolidated Balance Sheets for operating lease liabilities and right of use assets and adjustments to the income tax payable and income tax receivable for items identified during its reconciliation of completed income tax returns to its income tax provision that impacted jurisdictional netting. The accompanying Consolidated Statements of Cash Flows have been revised to correct a misclassification between operating and financing activities related to interest on finance lease obligations, and to reflect changes related to the items discussed above.

There were no other changes to the Consolidated Statements of Stockholders’ Equity that have not otherwise been reflected in the Consolidated Balance Sheets, Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income or described above. The following tables present the revisions to the Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows for the years ended July 31, 2024 and July 31, 2023 (in thousands, except per share amounts):

			July 31, 2024
Consolidated Balance Sheets			As Reported						Adjustment						As Revised
Other current assets			$	79,558					$	(9,400)					$	70,158
Total current assets			911,361						(9,400)						901,961
Property, plant and equipment, net (Note 8)			2,422,635						(4,105)						2,418,530
Operating right-of-use assets (Note 4)			256,627						1,641						258,268
Total assets			5,698,437						(11,864)						5,686,573
Income taxes payable			55,358						(8,930)						46,428
Long-term debt due within one year (Note 6)			57,153						2,161						59,314
Total current liabilities			1,113,309						(6,769)						1,106,540
Long-term debt, net (Note 6)			2,721,597						9,895						2,731,492
Operating lease liabilities (Note 4)			233,465						1,641						235,106
Deferred income taxes, net (Note 10)			279,815						(3,026)						276,789
Total liabilities			4,659,954						1,741						4,661,695
Retained earnings			780,431						(13,605)						766,826
Total Vail Resorts, Inc. stockholders’ equity			723,537						(13,605)						709,932
Total stockholders’ equity			1,038,483						(13,605)						1,024,878
Total liabilities and stockholders’ equity			$	5,698,437					$	(11,864)					$	5,686,573

			Year Ended July 31, 2024
Consolidated Statements of Operations			As Reported						Adjustment						As Revised
Depreciation and amortization			$	(276,493)					$	(2,580)					$	(279,073)
Income from operations			491,429						(2,580)						488,849
Interest expense, net			(161,839)						(2,760)						(164,599)
Income before provision for income taxes			345,095						(5,340)						339,755
Provision for income taxes (Note 10)			(98,816)						6,040						(92,776)
Net income			246,279						700						246,979
Net income attributable to Vail Resorts, Inc.			230,405						700						231,105
Basic net income per share attributable to Vail Resorts, Inc.			$	6.08					$	0.02					$	6.10
Diluted net income per share attributable to Vail Resorts, Inc.			$	6.07					$	0.02					$	6.09

			Year Ended July 31, 2024
Consolidated Statements of Comprehensive Income			As Reported						Adjustment						As Revised
Net income			$	246,279					$	700					$	246,979
Comprehensive income			167,746						700						168,446
Comprehensive income attributable to Vail Resorts, Inc.			$	173,475					$	700					$	174,175

			Year Ended July 31, 2024
Consolidated Statements of Cash Flows			As Reported						Adjustment						As Revised
Net income			$	246,279					$	700					$	246,979
Depreciation and amortization			276,493						2,580						279,073
Deferred income taxes, net			12,095						(5,393)						6,702
Other non-cash (income), net			(7,754)						5,009						(2,745)
Income taxes payable			(42,794)						(648)						(43,442)
Net cash provided by operating activities			586,774						2,248						589,022
Other financing activities, net			(39,620)						(2,248)						(41,868)
Net cash (used in) financing activities			$	(574,788)					$	(2,248)					$	(577,036)

			Year Ended July 31, 2023
Consolidated Statements of Operations			As Reported						Adjustment						As Revised
Depreciation and amortization			$	(268,501)					$	(677)					$	(269,178)
Income from operations			505,097						(677)						504,420
Interest expense, net			(153,022)						(2,424)						(155,446)
Income before provision for income taxes			373,517						(3,101)						370,416
Provision for income taxes (Note 10)			(88,414)						778						(87,636)
Net income			285,103						(2,323)						282,780
Net income attributable to Vail Resorts, Inc.			268,148						(2,323)						265,825
Basic net income per share attributable to Vail Resorts, Inc.			$	6.76					$	(0.06)					$	6.70
Diluted net income per share attributable to Vail Resorts, Inc.			$	6.74					$	(0.05)					$	6.69

			Year Ended July 31, 2023
Consolidated Statements of Comprehensive Income			As Reported						Adjustment						As Revised
Net income			$	285,103					$	(2,323)					$	282,780
Comprehensive income			263,355						(2,323)						261,032
Comprehensive income attributable to Vail Resorts, Inc.			$	246,867					$	(2,323)					$	244,544

			Year Ended July 31, 2023
Consolidated Statements of Cash Flows			As Reported						Adjustment						As Revised
Net income			$	285,103					$	(2,323)					$	282,780
Depreciation and amortization			268,501						677						269,178
Deferred income taxes, net			24,065						(609)						23,456
Other non-cash (income), net			(4,687)						547						(4,140)
Net cash provided by operating activities			639,563						(1,708)						637,855
Other financing activities, net			(21,983)						1,708						(20,275)
Net cash (used in) financing activities			$	(915,708)					$	1,708					$	(914,000)

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No definition available.

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- Definition

Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-7

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

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