XML 20 R9.htm IDEA: XBRL DOCUMENT v3.22.2.2
Revenue (Notes)
 3 Months Ended
Oct. 31, 2022
Revenue [Abstract]  
Revenue from Contract with Customer [Text Block]
Disaggregation of Revenues
The following table presents net revenues disaggregated by segment and major revenue type for the three months ended October 31, 2022 and 2021 (in thousands):
Three Months Ended October 31,
 20222021
Mountain net revenue:
Lift$59,540 $14,329 
Ski School8,927 1,473 
Dining19,442 12,520 
Retail/Rental40,344 28,376 
Other73,464 52,602 
Total Mountain net revenue$201,717 $109,300 
Lodging net revenue:
Owned hotel rooms$23,565 $21,483 
Managed condominium rooms12,859 13,084 
Dining 16,829 10,275 
Golf5,890 5,109 
Other14,797 14,269 
73,940 64,220 
Payroll cost reimbursements3,677 1,741 
Total Lodging net revenue $77,617 $65,961 
Total Resort net revenue$279,334 $175,261 
Total Real Estate net revenue113 315 
Total net revenue$279,447 $175,576 

Contract Balances
Deferred revenue balances of a short-term nature were $787.5 million and $511.3 million as of October 31, 2022 and July 31, 2022, respectively. For the three months ended October 31, 2022, the Company recognized approximately $54.5 million of revenue that was included in the deferred revenue balance as of July 31, 2022. Deferred revenue balances of a long-term nature, comprised primarily of long-term private club initiation fee revenue, were $115.6 million and $117.2 million as of October 31, 2022 and July 31, 2022, respectively. As of October 31, 2022, the weighted average remaining period over which revenue for unsatisfied performance obligations on long-term private club contracts will be recognized was approximately 15 years. Trade receivables, net were $118.5 million and $383.4 million as of October 31, 2022 and July 31, 2022, respectively.

Costs to Obtain Contracts with Customers
As of October 31, 2022, $19.7 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 generally beginning in the second quarter of fiscal 2023, commensurate with the revenue recognized for related pass products, and will be recorded within Mountain and Lodging operating expenses on the Company’s Consolidated Condensed Statement of Operations.