Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Tables)

3 Months Ended

Oct. 31, 2013

Guarantor Subsidiaries And Non Guarantor Subsidiaries

Supplemental Condensed Consolidating Balance Sheet

As of October 31, 2013

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	107,053		$	7,172		$	—		$	114,225
Restricted cash	—		10,846			1,557			—			12,403
Trade receivables, net	198		34,522			2,831			—			37,551
Inventories, net	—		89,317			214			—			89,531
Other current assets	26,524		29,674			1,136			—			57,334
Total current assets	26,722		271,412			12,910			—			311,044
Property, plant and equipment, net	—		1,140,942			44,571			—			1,185,513
Real estate held for sale and investment	—		188,205			—			—			188,205
Goodwill, net	—		344,865			1,760			—			346,625
Intangible assets, net	—		101,071			19,418			—			120,489
Other assets	5,796		97,473			4,188			(9,459		)	97,998
Investments in subsidiaries	1,751,058		(5,045		)	—			(1,746,013		)	—
Advances to affiliates	—		522,510			2,945			(525,455		)	—
Total assets	$	1,783,576	$	2,661,433		$	85,792		$	(2,280,927	)	$	2,249,874
Current liabilities:
Accounts payable and accrued liabilities	$	12,877	$	348,128		$	8,546		$	—		$	369,551
Income taxes payable	39,946		—			—			—			39,946
Long-term debt due within one year	—		772			231			—			1,003
Total current liabilities	52,823		348,900			8,777			—			410,500
Advances from affiliates	525,455		—			—			(525,455		)	—
Long-term debt	390,000		349,555			57,507			—			797,062
Other long-term liabilities	27,673		211,920			10,591			(9,459		)	240,725
Deferred income taxes	43,069		—			(34		)	—			43,035
Total Vail Resorts, Inc. stockholders’ equity (deficit)	744,556		1,751,058			(5,045		)	(1,746,013		)	744,556
Noncontrolling interests	—		—			13,996			—			13,996
Total stockholders’ equity	744,556		1,751,058			8,951			(1,746,013		)	758,552
Total liabilities and stockholders’ equity	$	1,783,576	$	2,661,433		$	85,792		$	(2,280,927	)	$	2,249,874

Supplemental Condensed Consolidating Balance Sheet

As of July 31, 2013

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	130,970		$	7,634		$	—		$	138,604
Restricted cash	—		10,890			1,734			—			12,624
Trade receivables, net	—		77,725			1,312			—			79,037
Inventories, net	—		68,101			217			—			68,318
Other current assets	25,190		18,475			1,221			—			44,886
Total current assets	25,190		306,161			12,118			—			343,469
Property, plant and equipment, net	—		1,124,004			45,284			—			1,169,288
Real estate held for sale and investment	—		195,230			—			—			195,230
Goodwill, net	—		347,078			1,746			—			348,824
Intangible assets, net	—		101,913			19,431			—			121,344
Other assets	6,057		96,337			4,332			(9,459		)	97,267
Investments in subsidiaries	1,861,509		(3,510		)	—			(1,857,999		)	—
Advances to affiliates	—		513,283			2,906			(516,189		)	—
Total assets	$	1,892,756	$	2,680,496		$	85,817		$	(2,383,647	)	$	2,275,422
Current liabilities:
Accounts payable and accrued liabilities	$	6,600	$	256,094		$	6,825		$	—		$	269,519
Income taxes payable	42,822		—			—			—			42,822
Long-term debt due within one year	—		775			219			—			994
Total current liabilities	49,422		256,869			7,044			—			313,335
Advances from affiliates	516,189		—			—			(516,189		)	—
Long-term debt	390,000		348,190			57,738			—			795,928
Other long-term liabilities	27,851		213,928			10,586			(9,459		)	242,906
Deferred income taxes	85,426		—			(42		)	—			85,384
Total Vail Resorts, Inc. stockholders’ equity (deficit)	823,868		1,861,509			(3,510		)	(1,857,999		)	823,868
Noncontrolling interests	—		—			14,001			—			14,001
Total stockholders’ equity	823,868		1,861,509			10,491			(1,857,999		)	837,869
Total liabilities and stockholders’ equity	$	1,892,756	$	2,680,496		$	85,817		$	(2,383,647	)	$	2,275,422

Supplemental Condensed Consolidating Balance Sheet

As of October 31, 2012

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	36,779		$	7,206		$	—		$	43,985
Restricted cash	—		13,578			948			—			14,526
Trade receivables, net	—		26,639			3,082			—			29,721
Inventories, net	—		84,548			204			—			84,752
Other current assets	25,782		22,827			506			—			49,115
Total current assets	25,782		184,371			11,946			—			222,099
Property, plant and equipment, net	—		1,008,799			47,844			—			1,056,643
Real estate held for sale and investment	—		227,662			—			—			227,662
Goodwill, net	—		268,058			1,801			—			269,859
Intangible assets, net	—		72,262			19,357			—			91,619
Other assets	6,836		42,299			5,877			(9,459		)	45,553
Investments in subsidiaries	1,684,088		(1,996		)	—			(1,682,092		)	—
Advances to affiliates	—		425,366			2,933			(428,299		)	—
Total assets	$	1,716,706	$	2,226,821		$	89,758		$	(2,119,850	)	$	1,913,435
Current liabilities:
Accounts payable and accrued liabilities	$	12,906	$	297,715		$	7,637		$	—		$	318,258
Income taxes payable	17,026		—			—			—			17,026
Long-term debt due within one year	—		629			219			—			848
Total current liabilities	29,932		298,344			7,856			—			336,132
Advances from affiliates	428,299		—			—			(428,299		)	—
Long-term debt	390,000		41,787			57,738			—			489,525
Other long-term liabilities	28,050		202,602			10,607			(9,459		)	231,800
Deferred income taxes	102,054		—			1,495			—			103,549
Total Vail Resorts, Inc. stockholders’ equity (deficit)	738,371		1,684,088			(1,996		)	(1,682,092		)	738,371
Noncontrolling interests	—		—			14,058			—			14,058
Total stockholders’ equity	738,371		1,684,088			12,062			(1,682,092		)	752,429
Total liabilities and stockholders’ equity	$	1,716,706	$	2,226,821		$	89,758		$	(2,119,850	)	$	1,913,435

Supplemental Condensed Consolidating Statement Of Operations

Supplemental Condensed Consolidating Statement of Operations

For the three months ended October 31, 2013

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	123,488		$	2,815		$	(2,912	)	$	123,391
Total operating expense	92			223,528			4,749			(2,874		)	225,495
Loss from operations	(92		)	(100,040		)	(1,934		)	(38		)	(102,104		)
Other expense, net	(6,601		)	(9,097		)	(343		)	38			(16,003		)
Equity investment income, net	—			603			—			—			603
Loss before benefit from income taxes	(6,693		)	(108,534		)	(2,277		)	—			(117,504		)
Benefit from income taxes	2,848			40,990			229			—			44,067
Net loss before equity in loss of consolidated subsidiaries	(3,845		)	(67,544		)	(2,048		)	—			(73,437		)
Equity in loss of consolidated subsidiaries	(69,531		)	(1,987		)	—			71,518			—
Net loss	(73,376		)	(69,531		)	(2,048		)	71,518			(73,437		)
Net loss attributable to noncontrolling interests	—			—			61			—			61
Net loss attributable to Vail Resorts, Inc.	$	(73,376	)	$	(69,531	)	$	(1,987	)	$	71,518		$	(73,376	)

Supplemental Condensed Consolidating Statement of Operations

For the three months ended October 31, 2012

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	116,004		$	3,011		$	(2,665	)	$	116,350
Total operating expense	113			204,358			4,805			(2,627		)	206,649
Loss from operations	(113		)	(88,354		)	(1,794		)	(38		)	(90,299		)
Other expense, net	(6,610		)	(1,414		)	(335		)	38			(8,321		)
Equity investment income, net	—			434			—			—			434
Loss before benefit from income taxes	(6,723		)	(89,334		)	(2,129		)	—			(98,186		)
Benefit from income taxes	2,610			34,791			182			—			37,583
Net loss before equity in loss of consolidated subsidiaries	(4,113		)	(54,543		)	(1,947		)	—			(60,603		)
Equity in income of consolidated subsidiaries	(56,467		)	(1,924		)	—			58,391			—
Net loss	(60,580		)	(56,467		)	(1,947		)	58,391			(60,603		)
Net loss attributable to noncontrolling interests	—			—			23			—			23
Net loss attributable to Vail Resorts, Inc.	$	(60,580	)	$	(56,467	)	$	(1,924	)	$	58,391		$	(60,580	)

SupplementalCondensedStatementofComprehensiveIncome [Text Block]

Statement of Comprehensive Income (Loss)

For the three months ended October 31, 2013

(In thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Net loss	$	(73,376	)	$	(69,531	)	$	(2,048	)	$	71,518		$	(73,437	)
Foreign currency translation adjustments, net of tax	11			11			11			(22		)	11
Comprehensive loss	(73,365		)	(69,520		)	(2,037		)	71,496			(73,426		)
Comprehensive loss attributable to noncontrolling interests	—			—			61			—			61
Comprehensive loss attributable to Vail Resorts, Inc.	$	(73,365	)	$	(69,520	)	$	(1,976	)	$	71,496		$	(73,365	)

Supplemental Condensed Consolidating Statement of Comprehensive Income (Loss)

For the three months ended October 31, 2012

(In thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Net loss	$	(60,580	)	$	(56,467	)	$	(1,947	)	$	58,391		$	(60,603	)
Foreign currency translation adjustments, net of tax	294			294			294			(588		)	294
Comprehensive loss	(60,286		)	(56,173		)	(1,653		)	57,803			(60,309		)
Comprehensive loss attributable to noncontrolling interests	—			—			23			—			23
Comprehensive loss attributable to Vail Resorts, Inc.	$	(60,286	)	$	(56,173	)	$	(1,630	)	$	57,803		$	(60,286	)

Supplemental Condensed Consolidating Statement Of Cash Flows

Supplemental Condensed Consolidating Statement of Cash Flows

For the three months ended October 31, 2013

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Consolidated
Net cash (used in) provided by operating activities	$	(44,375	)	$	74,291		$	(623	)	$	29,293
Cash flows from investing activities:
Capital expenditures	—			(46,477		)	(274		)	(46,751		)
Other investing activities, net	—			93			7			100
Net cash used in investing activities	—			(46,384		)	(267		)	(46,651		)
Cash flows from financing activities:
Dividends paid	(7,489		)	—			—			(7,489		)
Other financing activities, net	2,969			(2,858		)	334			445
Advances	48,895			(48,895		)	—			—
Net cash provided by (used in) financing activities	44,375			(51,753		)	334			(7,044		)
Effect of exchange rate changes on cash and cash equivalents	—			(71		)	94			23
Net decrease in cash and cash equivalents	—			(23,917		)	(462		)	(24,379		)
Cash and cash equivalents:
Beginning of period	—			130,970			7,634			138,604
End of period	$	—		$	107,053		$	7,172		$	114,225

Supplemental Condensed Consolidating Statement of Cash Flows

For the three months ended October 31, 2012

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Consolidated
Net cash (used in) provided by operating activities	$	(38,785	)	$	73,658		$	(296	)	$	34,577
Cash flows from investing activities:
Capital expenditures	—			(35,654		)	(253		)	(35,907		)
Other investing activities, net	—			255			—			255
Net cash used in investing activities	—			(35,399		)	(253		)	(35,652		)
Cash flows from financing activities:
Dividends paid	(6,729		)	—			—			(6,729		)
Other financing activities, net	3,628			2,170			(94		)	5,704
Advances	41,886			(42,030		)	144			—
Net cash provided by (used in) financing activities	38,785			(39,860		)	50			(1,025		)
Effect of exchange rate changes on cash and cash equivalents	—			—			32			32
Net decrease in cash and cash equivalents	—			(1,601		)	(467		)	(2,068		)
Cash and cash equivalents:
Beginning of period	—			38,380			7,673			46,053
End of period	$	—		$	36,779		$	7,206		$	43,985