XML 53 R42.htm IDEA: XBRL DOCUMENT v3.22.1
Fair Value Measurements (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Apr. 30, 2022
Apr. 30, 2021
Apr. 30, 2022
Apr. 30, 2021
Jul. 31, 2021
Jul. 31, 2020
Contingent Consideration $ 43,700 $ 27,400 $ 43,700 $ 27,400 $ 29,600 $ 17,800
Payments for Rent     (7,480) (2,602)    
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability     $ 21,580 12,202    
Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets, Impact of Adverse Change in Other Assumption, Description     The Company prepared a sensitivity analysis to evaluate the effect that changes on certain key assumptions would have on the estimated fair value of the Contingent Consideration. A change in the discount rate of 100 basis points or a 5% change in estimated subsequent year performance would result in a change in the estimated fair value within the range of approximately $4.7 million to $7.7 million.      
Contingent Consideration, Key Assumptions for Valuation     The estimated fair value of Contingent Consideration includes the future period resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, which is determined on the basis of estimated subsequent year performance, escalated by an assumed growth factor. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included a discount rate of 11.1%, volatility of 17.0% and future period Park City EBITDA, which are unobservable inputs and thus are considered Level 3 inputs.      
Money Market 504,612 253,809 $ 504,612 253,809 253,782  
Interest Rate Cash Flow Hedge Asset at Fair Value 13,216   13,216      
Fair Value Hedge Liabilities   12,938   12,938 12,942  
Net Income (Loss) Attributable to Parent $ 372,550 $ 274,629 $ 456,609 $ 268,661    
Weighted-average Vail Shares outstanding 40,537 40,262 40,485 40,242    
Weighted-average Exchangeco Shares outstanding 31 34 33 35    
Weighted Average Number of Shares Outstanding, Basic 40,568 40,296 40,518 40,277    
Effect of dilutive securities 110 600 266 530    
Total shares 40,678 40,896 40,784 40,807    
Earnings Per Share, Basic $ 9.18 $ 6.82 $ 11.27 $ 6.67    
Earnings Per Share, Diluted $ 9.16 $ 6.72 $ 11.20 $ 6.58    
Canyons Obligation [Member]            
Business Combination, Contingent Consideration Arrangements, Description     42% of the amount by which EBITDA for the Park City resort operations, as calculated under the lease, exceeds approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the lease by the Company.      
Level 2 [Member]            
Interest Rate Cash Flow Hedge Asset at Fair Value $ 13,216   $ 13,216      
Fair Value Hedge Liabilities   $ 12,938   $ 12,938 12,942  
Fair Value, Inputs, Level 3 [Member]            
Contingent Consideration 43,700 27,400 43,700 27,400 29,600  
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]            
Commercial Paper 504,612 253,809 504,612 253,809 253,782  
Commercial Paper [Member]            
Commercial Paper 2,401 2,401 2,401 2,401 2,401  
Commercial Paper [Member] | Level 2 [Member]            
Commercial Paper 2,401 2,401 2,401 2,401 2,401  
Certificates of Deposit [Member]            
Commercial Paper 9,556 259,111 9,556 259,111 259,945  
Certificates of Deposit [Member] | Level 2 [Member]            
Commercial Paper $ 9,556 $ 259,111 $ 9,556 $ 259,111 $ 259,945