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Revenue (Notes)
 9 Months Ended
Apr. 30, 2022
Revenue [Abstract]  
Revenue from Contract with Customer [Text Block]
Revenue Recognition

Revenue from the sale of pass products is recognized as lift revenue throughout the ski season, as the Company's performance obligations are satisfied as control of the service (e.g., access to ski areas throughout the ski season) is transferred to customers. In accordance with Topic 606, the Company estimates progress towards satisfaction of its performance obligations using an output method that best depicts the transfer of control of the service to its customers.

Historically, the output method measured progress toward satisfaction of the Company’s performance obligations based on the estimated number of pass product holder visits relative to total expected visits, based on historical data, which the Company believed to provide a faithful depiction of its customers’ pass product usage. When sufficient historical data to determine usage patterns was not available, such as in the case of new product offerings, progress was measured on a straight-line basis throughout the ski season until sufficient historical usage patterns were available. Beginning August 1, 2021, progress towards satisfaction of the Company’s performance obligations for all passes is measured using an output method based on the skiable days of the season to date relative to the total estimated skiable days of the season, which effectively results in revenue being recorded on a straight-line basis throughout the ski season. Total estimated skiable days is based on actual resort opening and estimated closing dates. The Company believes this method best estimates the value transferred to the customer to date relative to the remaining services promised under the contract. Due to the strong correlation between historical pass product usage and skiable days, the change in the Company’s method of estimating progress toward satisfaction of the performance obligation alone does not have a material effect on the recognition pattern of pass product revenue.
Disaggregation of Revenues
The following table presents net revenues disaggregated by segment and major revenue type for the three and nine months ended April 30, 2022 and 2021 (in thousands):
Three Months Ended April 30,Nine Months Ended April 30,
 2022
2021(1)
2022
2021(1)
Mountain net revenue:
Lift$714,708 $577,680 $1,250,619 $1,041,546 
Ski School120,897 80,390 214,442 138,824 
Dining79,826 45,981 146,395 81,276 
Retail/Rental126,497 91,286 281,704 203,718 
Other42,707 34,575 135,150 106,005 
Total Mountain net revenue$1,084,635 $829,912 $2,028,310 $1,571,369 
Lodging net revenue:
Owned hotel rooms$18,295 $10,252 $53,362 $24,325 
Managed condominium rooms37,494 28,726 83,703 58,391 
Dining 14,646 4,162 33,296 7,703 
Transportation6,862 4,663 14,421 7,610 
Golf— — 5,138 3,733 
Other9,925 8,610 31,641 25,834 
87,222 56,413 221,561 127,596 
Payroll cost reimbursements4,679 1,953 8,281 5,174 
Total Lodging net revenue $91,901 $58,366 $229,842 $132,770 
Total Resort net revenue$1,176,536 $888,278 $2,258,152 $1,704,139 
Total Real Estate net revenue129 800 624 1,369 
Total net revenue$1,176,665 $889,078 $2,258,776 $1,705,508 
(1) Segment results for the three and nine months ended April 30, 2021 have been retrospectively adjusted to reflect current period presentation. See Note 10 for additional information.

Contract Balances
Deferred revenue balances of a short-term nature were $326.0 million and $456.5 million as of April 30, 2022 and July 31, 2021, respectively. Deferred revenue balances of a long-term nature, comprised primarily of long-term private club initiation fee revenue, was $119.2 million and $121.0 million as of April 30, 2022 and July 31, 2021, respectively. For the three and nine months ended April 30, 2022, the Company recognized approximately $200.9 million and $423.9 million, respectively, of revenue that was included in the deferred revenue balance as of July 31, 2021. As of April 30, 2022, the weighted average remaining period over which revenue for unsatisfied performance obligations on long-term private club contracts will be recognized was approximately 16 years. Trade receivables, net were $267.1 million and $345.4 million as of April 30, 2022 and July 31, 2021, respectively.

Costs to Obtain Contracts with Customers
As of April 30, 2022, $1.3 million of costs to obtain contracts with customers were recorded within other current assets on the Company’s Consolidated Condensed Balance Sheet. The amounts capitalized are subject to amortization commensurate with the revenue recognized for related pass products. The Company recorded amortization of $11.8 million and $21.9 million, respectively, for these costs during the three and nine months ended April 30, 2022, which was recorded within Mountain and Lodging operating expenses on the Company’s Consolidated Condensed Statement of Operations.