Segment Information (Tables)

12 Months Ended

Jul. 31, 2013

Summary Of Financial Information By Reportable Segment

Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):



	Year Ended July 31,
	2013			2012			2011
Net revenue:
Lift tickets	$	390,820		$	342,500		$	342,514
Ski school	95,254			84,292			83,818
Dining	81,175			68,376			68,052
Retail/rental	199,418			181,772			174,339
Other	100,847			89,668			83,468
Total Mountain net revenue	867,514			766,608			752,191
Lodging	210,974			210,623			214,658
Resort	1,078,488			977,231			966,849
Real estate	42,309			47,163			200,197
Total net revenue	$	1,120,797		$	1,024,394		$	1,167,046
Segment operating expense:
Mountain	$	639,706		$	568,578		$	540,366
Lodging	198,813			204,270			205,903
Resort	838,519			772,848			746,269
Real estate	58,090			63,170			205,232
Total segment operating expense	$	896,609		$	836,018		$	951,501
Gain on sale of real property	$	6,675		$	—		$	—
Mountain equity investment income, net	$	891		$	878		$	1,342
Reported EBITDA:
Mountain	$	228,699		$	198,908		$	213,167
Lodging	12,161			6,353			8,755
Resort	240,860			205,261			221,922
Real estate	(9,106		)	(16,007		)	(5,035		)
Total Reported EBITDA	$	231,754		$	189,254		$	216,887
Real estate held for sale and investment	$	195,230		$	237,668		$	273,663
Reconciliation to net income attributable to Vail Resorts, Inc.:
Total Reported EBITDA	$	231,754		$	189,254		$	216,887
Depreciation and amortization	(132,688		)	(127,581		)	(117,957		)
Loss on disposal of fixed assets, net	(1,222		)	(1,464		)	(555		)
Asset impairment charge	—			—			(2,561		)
Investment income, net	351			469			719
Interest expense, net	(38,966		)	(33,586		)	(33,641		)
Loss on extinguishment of debt	—			—			(7,372		)
Income before provision for income taxes	59,229			27,092			55,520
Provision for income taxes	(21,619		)	(10,701		)	(21,098		)
Net income	37,610			16,391			34,422
Net loss attributable to noncontrolling interests	133			62			67
Net income attributable to Vail Resorts, Inc.	$	37,743		$	16,453		$	34,489

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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