XML 15 R3.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Condensed Statements Of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Apr. 30, 2023
Apr. 30, 2022
Net revenue:        
Mountain and Lodging services and other $ 1,054,134 $ 1,020,544 $ 2,166,357 $ 1,912,704
Mountain and Lodging retail and dining 184,142 155,992 445,272 345,448
Resort net revenue 1,238,276 1,176,536 2,611,629 2,258,152
Real Estate Revenue 155 129 7,967 624
Revenues 1,238,431 1,176,665 2,619,596 2,258,776
Operating expense (exclusive of depreciation and amortization shown separately below):        
Mountain and Lodging operating expense 462,613 417,422 1,212,115 965,483
Mountain and Lodging retail and dining cost of products sold 63,575 57,174 174,091 135,118
General and administrative 88,860 91,764 304,275 260,259
Resort operating expense 615,048 566,360 1,690,481 1,360,860
Real Estate operating expense 1,679 1,609 9,371 4,590
Total segment operating expense 616,727 567,969 1,699,852 1,365,450
Other operating (expense) income:        
Depreciation and amortization (69,097) (65,655) (199,700) (189,214)
Gain on sale of real property 88 189 845 1,151
Change in estimated fair value of contingent consideration (Note 8) (45,900) (2,800) (47,636) (21,580)
(Loss) gain on disposal of fixed assets and other, net (6,269) (51) (8,055) 16,163
Income from operations 500,526 540,379 665,198 699,846
Mountain equity investment income, net 94 363 482 2,695
Investment income and other, net 7,740 224 17,734 980
Foreign currency loss on intercompany loans (Note 5) (1,766) (1,040) (5,563) (3,079)
Interest expense, net (39,139) (35,132) (112,811) (112,043)
Income before provision for income taxes 467,455 504,794 565,040 588,399
Provision for income taxes (124,289) (118,211) (145,315) (110,407)
Net income 343,166 386,583 419,725 477,992
Net income attributable to noncontrolling interests (18,160) (14,033) (23,011) (21,383)
Net income attributable to Vail Resorts, Inc. $ 325,006 $ 372,550 $ 396,714 $ 456,609
Per share amounts (Note 4):        
Basic net income per share attributable to Vail Resorts, Inc. $ 8.20 $ 9.18 $ 9.90 $ 11.27
Diluted net income per share attributable to Vail Resorts, Inc. 8.18 9.16 9.87 11.20
Cash dividends declared per share $ 2.06 $ 1.91 $ 5.88 $ 3.67