XML 14 R3.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Condensed Statements Of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Jan. 31, 2024
Jan. 31, 2023
Net revenue:        
Mountain and Lodging services and other $ 905,053 $ 901,837 $ 1,087,887 $ 1,112,223
Mountain and Lodging retail and dining 172,745 192,182 244,187 261,130
Resort net revenue 1,077,798 1,094,019 1,332,074 1,373,353
Real Estate Revenue 160 7,699 4,449 7,812
Revenues 1,077,958 1,101,718 1,336,523 1,381,165
Operating expense (exclusive of depreciation and amortization shown separately below):        
Mountain and Lodging operating expense 474,170 507,216 729,746 749,502
Mountain and Lodging retail and dining cost of products sold 65,289 75,431 96,584 110,516
General and administrative 112,714 116,616 220,739 215,415
Resort operating expense 652,173 699,263 1,047,069 1,075,433
Real Estate operating expense 1,676 6,310 6,857 7,692
Total segment operating expense 653,849 705,573 1,053,926 1,083,125
Other operating (expense) income:        
Depreciation and amortization (69,399) (65,989) (136,127) (130,603)
Gain on sale of real property 0 757 6,285 757
Change in estimated fair value of contingent consideration (Note 8) (3,400) (1,100) (6,457) (1,736)
Loss on disposal of fixed assets and other, net (758) (1,780) (2,801) (1,786)
Income from operations 350,552 328,033 143,497 164,672
Mountain equity investment (loss) income, net (579) 42 280 388
Investment income and other, net 4,863 7,108 8,547 9,994
Foreign currency gain (loss) on intercompany loans (Note 5) 3,040 2,338 (1,925) (3,797)
Interest expense, net (40,585) (38,370) (81,315) (73,672)
Income before provision for income taxes 317,291 299,151 69,084 97,585
Provision for income taxes (87,486) (79,032) (22,326) (21,026)
Net income 229,805 220,119 46,758 76,559
Net income attributable to noncontrolling interests (10,506) (11,440) (2,971) (4,851)
Net income attributable to Vail Resorts, Inc. $ 219,299 $ 208,679 $ 43,787 $ 71,708
Per share amounts (Note 4):        
Basic net income per share attributable to Vail Resorts, Inc. $ 5.78 $ 5.17 $ 1.15 $ 1.78
Diluted net income per share attributable to Vail Resorts, Inc. 5.76 5.16 1.15 1.77
Cash dividends declared per share $ 2.06 $ 1.91 $ 4.12 $ 3.82