Segment Information (Tables)

6 Months Ended

Jan. 31, 2021

Summary Of Financial Information By Reportable Segment

The following table presents financial information by reportable segment, which is used by management in evaluating performance and allocating resources (in thousands):


	Three Months Ended January 31,				Six Months Ended January 31,
	2021		2020		2021		2020
Net revenue:
Lift	$	430,775	$	484,348	$	463,866	$	526,177
Ski school	56,390		102,743		58,434		111,277
Dining	31,810		75,719		34,878		97,348
Retail/rental	90,126		133,713		112,432		181,628
Other	32,354		49,022		66,559		109,947
Total Mountain net revenue	641,455		845,545		736,169		1,026,377
Lodging	42,874		78,887		79,692		161,645
Total Resort net revenue	684,329		924,432		815,861		1,188,022
Real Estate	315		206		569		4,386
Total net revenue	$	684,644	$	924,638	$	816,430	$	1,192,408
Segment operating expense:
Mountain	$	359,058	$	472,686	$	545,150	$	734,694
Lodging	50,400		73,593		94,606		153,085
Total Resort operating expense	409,458		546,279		639,756		887,779
Real Estate	1,615		1,505		3,065		6,798
Total segment operating expense	$	411,073	$	547,784	$	642,821	$	894,577

Gain on sale of real property	$	—	$	—	$	—	$	207
Mountain equity investment income, net	$	1,180	$	169	$	5,166	$	1,360
Reported EBITDA:
Mountain	$	283,577	$	373,028	$	196,185	$	293,043
Lodging	(7,526)		5,294		(14,914)		8,560
Resort	276,051		378,322		181,271		301,603
Real Estate	(1,300)		(1,299)		(2,496)		(2,205)
Total Reported EBITDA	$	274,751	$	377,023	$	178,775	$	299,398

Real estate held for sale and investment	$	96,801	$	96,944	$	96,801	$	96,944

Reconciliation from net income (loss) attributable to Vail Resorts, Inc. to Total Reported EBITDA:
Net income (loss) attributable to Vail Resorts, Inc.	$	147,798	$	206,370	$	(5,968)	$	99,895
Net income (loss) attributable to noncontrolling interests	1,332		10,648		(1,923)		7,294
Net income (loss)	149,130		217,018		(7,891)		107,189
Provision (benefit) from income taxes	27,221		67,313		(10,257)		20,750
Income (loss) before provision (benefit) from income taxes	176,351		284,331		(18,148)		127,939
Depreciation and amortization	62,663		63,812		125,291		121,657

Change in estimated fair value of contingent consideration	1,000		1,600		1,802		2,736
Loss (gain) on disposal of fixed assets and other, net	2,192		709		2,761		(1,558)
Investment income and other, net	(167)		(361)		(510)		(638)
Foreign currency (gain) loss on intercompany loans	(5,135)		798		(5,675)		438
Interest expense, net	37,847		26,134		73,254		48,824
Total Reported EBITDA	$	274,751	$	377,023	$	178,775	$	299,398