Segment Information (Tables)

12 Months Ended

Jul. 31, 2021

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,
	2021		2020		2019
Net revenue:
Mountain	$	1,689,878	$	1,710,443	$	1,956,201
Lodging	218,062		248,414		314,662
Total Resort net revenue	1,907,940		1,958,857		2,270,863
Real Estate	1,770		4,847		712
Total net revenue	$	1,909,710	$	1,963,704	$	2,271,575
Segment operating expense:
Mountain	$	1,146,187	$	1,212,053	$	1,279,567
Lodging	223,795		245,145		286,562
Total Resort operating expense	1,369,982		1,457,198		1,566,129
Real Estate	6,676		9,182		5,609
Total segment operating expense	$	1,376,658	$	1,466,380	$	1,571,738
Gain on sale of real property	$	324	$	207	$	580
Mountain equity investment income, net	$	6,698	$	1,690	$	1,960
Reported EBITDA:
Mountain	$	550,389	$	500,080	$	678,594
Lodging	(5,733)		3,269		28,100
Resort	544,656		503,349		706,694
Real Estate	(4,582)		(4,128)		(4,317)
Total Reported EBITDA	$	540,074	$	499,221	$	702,377
Real estate held for sale or investment	$	95,615	$	96,844	$	101,021
Reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA:
Net income attributable to Vail Resorts, Inc.	$	127,850	$	98,833	$	301,163
Net (loss) income attributable to noncontrolling interests	(3,393)		10,222		22,330
Net income	124,457		109,055		323,493
Provision for income taxes	726		7,378		75,472
Income before provision for income taxes	125,183		116,433		398,965
Depreciation and amortization	252,585		249,572		218,117
Asset impairments	—		28,372		—
Loss (gain) on disposal of fixed assets and other, net	5,373		(838)		664
Change in fair value of contingent consideration	14,402		(2,964)		5,367
Investment income and other, net	(586)		(1,305)		(3,086)
Foreign currency (gain) loss on intercompany loans	(8,282)		3,230		2,854
Interest expense, net	151,399		106,721		79,496
Total Reported EBITDA	$	540,074	$	499,221	$	702,377

Revenue and Properties, Plant and Equipment from External Customers by Geographic Areas [Table Text Block]

Geographic Information

Net revenue and property, plant and equipment, net by geographic region are as follows (in thousands):


	Year ended July 31,
Net revenue	2021		2020		2019
U.S.	$	1,717,270	$	1,655,961	$	1,865,062
International (1)	192,440		307,743		406,513
Total net revenue	$	1,909,710	$	1,963,704	$	2,271,575

			July 31,
Property, plant and equipment, net			2021		2020
U.S.			$	1,646,097	$	1,759,692
International (2)			421,779		432,987
Total property, plant and equipment, net			$	2,067,876	$	2,192,679

(1) No individual international country (i.e. except the U.S.) accounted for more than 10% of the Company’s revenue for the year ended July 31, 2021. The only individual international country to account for more than 10% of the Company’s revenue for the years ended July 31, 2020 and 2019 was Canada. Canada accounted for $223.3 million and $308.1 million of revenue for the years ended July 31, 2020 and 2019, respectively.

(2) The only individual international country to account for more than 10% of the Company’s property plant and equipment, net was Canada. Canada accounted for $288.4 million and $291.7 million of property, plant and equipment, net as of July 31, 2021 and 2020, respectively.