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Document And Entity Information (USD $)
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12 Months Ended | ||
|---|---|---|---|
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Jul. 31, 2011
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Sep. 15, 2011
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Jan. 31, 2011
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| Document And Entity Information | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Jul. 31, 2011 | ||
| Document Fiscal Year Focus | 2011 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | MTN | ||
| Entity Registrant Name | VAIL RESORTS INC | ||
| Entity Central Index Key | 0000812011 | ||
| Current Fiscal Year End Date | --07-31 | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Common Stock, Shares Outstanding | 36,071,071 | ||
| Entity Public Float | $ 1,712,875,740 |
| X | ||||||||||
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- Definition
If the value is true, then the document as an amendment to previously-filed/accepted document. No definition available.
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| X | ||||||||||
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other. No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities. No definition available.
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet due to materiality considerations, including the deferral of financing related costs. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). No definition available.
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities. No definition available.
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of (1) improvements, (2) held-for-sale, (3) land and land under development, (4) construction-in-process, (5) mortgage loans held-in-inventory, and (6) other real estate investments which are considered inventory due to being held for sale or disposition. No definition available.
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year or the normal operating cycle, if longer plus capital lease obligations due to be paid more than one year after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Obligation related to long-term debt (excluding convertible debt) and capital leases, the portion which is due in one year or less in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date more than one year from the balance sheet date, net of any write-downs taken for collection uncertainty on the part of the holder. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Jul. 31, 2011
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Jul. 31, 2010
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|---|---|---|
| Consolidated Balance Sheets | ||
| Trade receivables, allowances | $ 3,423 | $ 2,259 |
| Inventories, reserves | $ 1,552 | $ 1,452 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 25,000,000 | 25,000,000 |
| Preferred stock, shares issued | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 100,000,000 | 100,000,000 |
| Common stock, shares issued | 40,334,973 | 40,173,891 |
| Treasury stock, shares | 4,264,804 | 4,264,804 |
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- Details
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| X | ||||||||||
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- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value of common stock per share; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 20, 2011
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Jul. 31, 2011
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Apr. 30, 2011
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Jan. 31, 2011
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Oct. 31, 2010
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Jul. 31, 2010
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Apr. 30, 2010
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Jan. 31, 2010
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Oct. 31, 2009
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Jul. 31, 2011
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Jul. 31, 2010
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Jul. 31, 2009
|
|
| Net revenue: | ||||||||||||
| Mountain | $ 41,717 | $ 351,418 | $ 318,277 | $ 40,779 | $ 36,100 | $ 302,213 | $ 260,978 | $ 39,204 | $ 752,191 | $ 638,495 | $ 614,597 | |
| Lodging | 54,388 | 57,477 | 51,676 | 51,117 | 51,322 | 51,880 | 44,802 | 47,297 | 214,658 | 195,301 | 203,606 | |
| Real estate | 12,568 | 13,221 | 25,147 | 149,261 | 56,768 | 3,164 | 870 | 205 | 200,197 | 61,007 | 186,150 | |
| Total net revenue | 108,673 | 422,116 | 395,100 | 241,157 | 144,190 | 357,257 | 306,650 | 86,706 | 1,167,046 | 894,803 | 1,004,353 | |
| Segment operating expense (exclusive of depreciation and amortization shown separately below): | ||||||||||||
| Mountain | 540,366 | 456,017 | 451,025 | |||||||||
| Lodging | 205,903 | 192,909 | 196,847 | |||||||||
| Real estate | 205,232 | 71,402 | 142,070 | |||||||||
| Total segment operating expense | 951,501 | 720,328 | 789,942 | |||||||||
| Other operating (expense) income: | ||||||||||||
| Depreciation and amortization | (117,957) | (110,638) | (107,213) | |||||||||
| Loss on disposal of fixed assets, net | (555) | (615) | (1,064) | |||||||||
| Asset impairment charge (Note 8) | (2,561) | |||||||||||
| Gain on sale of real property | 6,087 | |||||||||||
| Income from operations | (77,828) | 139,495 | 97,061 | (64,256) | (57,841) | 118,323 | 73,541 | (64,714) | 94,472 | 69,309 | 106,134 | |
| Mountain equity investment income, net | 1,342 | 1,558 | 817 | |||||||||
| Investment income, net | 719 | 445 | 1,793 | |||||||||
| Interest expense, net | (33,641) | (17,515) | (27,548) | |||||||||
| Loss on extinguishment of debt (Note 4) | (7,372) | |||||||||||
| Income before provision for income taxes | 55,520 | 53,797 | 81,196 | |||||||||
| Provision for income taxes (Note 11) | (21,098) | (18,022) | (30,644) | |||||||||
| Net income | (53,935) | 76,840 | 54,577 | (43,060) | (42,184) | 76,391 | 45,079 | (43,511) | 34,422 | 35,775 | 50,552 | |
| Net loss (income) attributable to noncontrolling interests | 67 | (5,390) | (1,602) | |||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | $ (53,906) | $ 76,867 | $ 54,551 | $ (43,023) | $ (41,921) | $ 72,789 | $ 40,690 | $ (41,173) | $ 34,489 | $ 30,385 | $ 48,950 | |
| Per share amounts (Note 3): | ||||||||||||
| Basic net income per share attributable to Vail Resorts, Inc. | $ (1.49) | $ 2.13 | $ 1.52 | $ (1.20) | $ (1.16) | $ 2.01 | $ 1.12 | $ (1.14) | $ 0.96 | $ 0.84 | $ 1.34 | |
| Diluted net income per share attributable to Vail Resorts, Inc. | $ (1.49) | $ 2.08 | $ 1.48 | $ (1.20) | $ (1.16) | $ 1.98 | $ 1.11 | $ (1.14) | $ 0.94 | $ 0.83 | $ 1.33 | |
| Cash dividends declared per share | $ 0.15 | $ 0.15 | $ 0.15 | |||||||||
| X | ||||||||||
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- Definition
The gains and losses included in results of operations resulting from the sale of unimproved land. No definition available.
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income (expense) before, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. No definition available.
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| X | ||||||||||
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- Definition
Costs incurred that are directly related to generating lodging revenues, including labor and labor-related benefits and general and administrative expenses. No definition available.
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| X | ||||||||||
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- Definition
Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities. No definition available.
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| X | ||||||||||
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- Definition
The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment. No definition available.
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| X | ||||||||||
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- Definition
Costs incurred that are directly related to generating mountain revenue, including labor and labor-related benefits, retail cost of sales, resort related fees and general and administrative expenses. No definition available.
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| X | ||||||||||
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- Definition
Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations. No definition available.
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| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations including costs of sales or services and General and Administrative Expense. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Costs incurred that are directly related to generating real estate revenues, including cost of sales (including sales commissions), labor and labor-related benefits, general and administrative expenses and other expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gains (losses) included in results of operations resulting from the sale or disposal of property, plant and equipment, which do not qualify for treatment as discontinued operations. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Acquisition Of Noncontrolling Interest No definition available.
|
| X | ||||||||||
|
- Definition
Tax benefit associated with any equity-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of aggregate cash, stock, and paid-in-kind dividends declared for common shareholders during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Change in noncontrolling interest during the period as a result of a change in the redemption value of redeemable noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash received from sale of unimproved land. No definition available.
|
| X | ||||||||||
|
- Definition
The net change in real estate deposits held during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The gains and losses included in results of operations resulting from the sale of unimproved land. No definition available.
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amount of prepayments by customers for private club initiation fees and deposits for services to be provided at a later date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Reflects for the period the total of the carrying amount of the commercial, industrial and residential land and buildings sold plus certain overhead and other costs incurred to place the real estate in saleable condition, capitalized interest costs in the properties sold, and inventory impairment losses recognized. This element would most likely be used by an entity whose principal activities involve real estate or which has significant real estate operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities less other operating liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets and liabilities, other noncurrent assets and liabilities, or a combination of other current and noncurrent assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other income or gains included in net income that result in no cash inflows or outflows in the period and are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from borrowings to finance the cost of construction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash inflow from other long-term borrowings not otherwise defined in the taxonomy (with maturities initially due beyond one year or the normal operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total Increase or Decrease in the carrying amount of real estate investments during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from repayment of borrowings to finance the cost of construction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the repayment of long-term borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in case of liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Organization And Business
|
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
|||
| Organization And Business | |||
| Organization And Business |
Vail Resorts, Inc. ("Vail Resorts" or the "Parent Company") is organized as a holding company and operates through various subsidiaries. Vail Resorts and its subsidiaries (collectively, the "Company") currently operate in three business segments: Mountain, Lodging and Real Estate. In the Mountain segment, the Company operates six world-class ski resort properties at the Vail, Breckenridge, Keystone and Beaver Creek mountain resorts in Colorado and the Heavenly and Northstar-at-Tahoe mountain resorts in the Lake Tahoe area of California and Nevada, as well as ancillary services, primarily including ski school, dining and retail/rental operations. These resorts (with the exception of Northstar-at-Tahoe) operate primarily on Federal land under the terms of Special Use Permits granted by the USDA Forest Service (the "Forest Service"). In the Lodging segment, the Company owns and/or manages a collection of luxury hotels under its RockResorts brand, as well as other strategic lodging properties and a large number of condominiums located in proximity to the Company's ski resorts, the Grand Teton Lodge Company ("GTLC"), which operates three destination resorts at Grand Teton National Park (under a National Park Service concessionaire contract), Colorado Mountain Express ("CME"), a resort ground transportation company, and golf courses. Vail Resorts Development Company ("VRDC"), a wholly-owned subsidiary, conducts the operations of the Company's Real Estate segment, which owns and develops real estate in and around the Company's resort communities. The Company's mountain business and its lodging properties at or around the Company's ski resorts are seasonal in nature with peak operating seasons from mid-November through mid-April. The Company's operations at GTLC and its golf courses generally operate from mid-May through mid-October. The Company also has non-majority owned investments in various other entities, some of which are consolidated (see Note 8, Variable Interest Entities). |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary Of Significant Accounting Policies
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Summary Of Significant Accounting Policies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of Significant Accounting Policies |
Principles of Consolidation-- The accompanying Consolidated Financial Statements include the accounts of the Company, its majority-owned subsidiaries and all variable interest entities for which the Company is the primary beneficiary. Investments in which the Company does not have a controlling interest or is not the primary beneficiary are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation. Cash and Cash Equivalents-- The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Restricted Cash-- Restricted cash primarily represents amounts held as state-regulated reserves for self-insured workers' compensation claims and owner and guest advance deposits held in escrow for lodging reservations. Trade Receivables-- The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The Company generally charges interest on past due accounts at a rate of 18% per annum. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable, and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis. Inventories-- The Company's inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or fair value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory. Property, Plant and Equipment-- Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in operating income. Depreciation is calculated on the straight-line method generally based on the following useful lives:
The Company capitalizes interest on non-real estate construction projects expected to take longer than one year to complete and cost more than $1.0 million. The Company records capitalized interest once construction activities commence and capitalized $0.1 million, $1.1 million and $0.8 million of interest on non-real estate projects during the years ended July 31, 2011, 2010 and 2009, respectively. The Company has certain assets being used in resort operations that were constructed as amenities in conjunction with real estate development and included in project costs and expensed as the real estate was sold. Accordingly, there is no carrying value and no depreciation expense related to these assets in the Company's Consolidated Financial Statements. These assets were primarily placed in service from 1995 to 1997 with an original cost of approximately $33.0 million and an average estimated useful life of 15 years. Real Estate Held for Sale and Investment-- The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs, including costs that will be capitalized as resort depreciable assets associated with mixed-use real estate development projects for which the Company cannot specifically identify the components at the time of incurring such cash outflows until the property reaches its intended use. Additionally, the Company records depreciation on completed condominium units that are placed in rental programs until such units are sold. Sales and marketing expenses are charged against income in the period incurred. Sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. The Company records capitalized interest once construction activities commence and real estate deposits have been utilized in construction. Interest capitalized on real estate development projects during the years ended July 31, 2011, 2010 and 2009 was $0.5 million, $15.1 million and $6.8 million, respectively. Deferred Financing Costs-- Certain costs incurred with the issuance of debt securities are capitalized and included in deferred charges and other assets, net of accumulated amortization. Amortization is charged to interest expense over the respective term of the applicable debt issues. Goodwill and Intangible Assets-- The Company has classified as goodwill the cost in excess of fair value of the net assets of businesses acquired in purchase transactions. The Company's major intangible asset classes are trademarks, water rights, customer lists, property management contracts, Forest Service permits and excess reorganization value. Goodwill and certain indefinite-lived intangible assets, including trademarks, water rights and excess reorganization value, are not amortized, but are subject to at least annual impairment testing. The Company tests annually (or more often, if necessary) for impairment as of May 1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives. The testing for impairment consists of a comparison of the fair value of the assets with their carrying values (including goodwill and other intangibles) for each reporting unit. If the carrying amount of the assets exceed its fair value, an impairment will be recognized in an amount equal to that excess. If the carrying amount of the assets does not exceed the fair value, no impairment is recognized. The Company determines the estimated fair value of its reporting units using a discounted cash flow analysis. The fair value of indefinite-lived intangible assets is estimated using an income approach. The Company determined that there was no impairment to goodwill or intangible assets during the years ended July 31, 2011, 2010 and 2009 Long-lived Assets-- The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the carrying amount of the asset, an impairment loss is recognized as the amount by which the carrying amount of the asset exceeds its fair value. The Company does not believe any events or changes in circumstances indicating an impairment of the carrying amount of a long-lived asset occurred during the years ended July 31, 2011, 2010 and 2009. See Note 8, Variable Interest Entities, for impairment charge recorded on a note receivable. Revenue Recognition-- The following describes the composition of revenues for the Company:
Revision of Payroll Cost Reimbursement from Managed Hotel Properties-- Revenue from reimbursement of payroll costs relates to payroll costs of managed hotel properties where the Company is the employer. The reimbursements are based upon the costs incurred with no added margin; therefore, these revenues and corresponding expenses have no net effect on the Company's operating income or net income. The Company previously reported payroll cost reimbursement from managed hotel properties net of reimbursed payroll costs; however, as the Company is the employer at certain managed hotel properties, and thus the primary obligor, these amounts should be reported gross. The Company determined that the impact of these revisions were not material to the Consolidated Statements of Operations to all applicable prior interim and annual periods. For the year ended July 31, 2011, revenue and expenses relating to reimbursed payroll costs were $28.6 million. For the years ended July 31, 2010 and 2009, the Company revised its presentation of these reimbursed payroll costs from a net presentation to a gross presentation in its Consolidated Statements of Operations to conform to its current year presentation. The effect of this change increased Lodging net revenue for the years ended July 31, 2010 and 2009 from $169.1 million and $176.2 million, respectively (as previously reported in the prior year's Annual Report on Form 10-K) to $195.3 million and $203.6 million, respectively, with a corresponding increase in the Lodging operating expense for the years ended July 31, 2010 and 2009 from $166.7 million and $169.5 million, respectively (as previously reported in the prior year's Annual Report on Form 10-K) to $192.9 million and $196.9 million, respectively. Additionally, previously reported quarterly financial data for Fiscal 2011 and Fiscal 2010 as presented in Note 15, Selected Quarterly Financial Data (unaudited), and the information for the years ended July 31, 2010 and 2009 as presented in Note 14, Segment Information, and Note 19, Guarantor Subsidiaries and Non-Guarantor Subsidiaries have been revised to reflect these revisions. Real Estate Cost of Sales-- Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and may include accrued liabilities for costs to be incurred subsequent to the sales transaction. The Company utilizes the relative sales value method to determine cost of sales for individual parcels of real estate or condominium/townhome units sold within a project, when specific identification of costs cannot be reasonably determined. Estimates of project costs and cost allocations are reviewed at the end of each financial reporting period until a project is substantially completed and available for sale. Costs are revised and reallocated as necessary for material changes on the basis of current estimates and are reported as a change in estimate in the current period. Additionally, for the year ended July 31, 2009 the Company recorded a $2.8 million charge for an affordable housing commitment related to the Jackson Hole Golf & Tennis Club ("JHG&TC") development. Deferred Revenue-- In addition to deferring certain revenue related to private club initiation fees, the Company records deferred revenue related to the sale of season ski passes. The number of season pass holder visits is estimated based on historical data and the deferred revenue is recognized throughout the season based on this estimate, or on a straight-line basis if usage patterns cannot be determined based on available historical data. Reserve Estimates-- The Company uses estimates to record reserves for certain liabilities, including medical claims, workers' compensation, third-party loss contingencies, liabilities for the completion of real estate sold by the Company, property taxes and loyalty reward programs among other items. The Company estimates the potential costs related to these liabilities that will be incurred and records that amount as a liability in its consolidated financial statements. These estimates are reviewed and adjusted as the facts and circumstances related to the liabilities change. The Company records legal costs related to defending claims as incurred. Advertising Costs-- Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended July 31, 2011, 2010 and 2009 was $20.3 million, $18.8 million and $17.9 million, respectively. Prepaid advertising costs as of July 31, 2011 and 2010 was $0.2 million and $0.3 million, respectively and is reported within "other current assets" in the Company's Consolidated Balance Sheets.
Income Taxes-- The Company's provision for income taxes is based on current pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company's deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is "more-likely-than-not" to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement (see Note 11, Income Taxes, for more information). Fair Value of Financial Instruments-- The recorded amounts for cash and cash equivalents, receivables, other current assets, and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Employee Housing Bonds (as defined in Note 4, Long-Term Debt) approximate book value due to the variable nature of the interest rate associated with that debt. The fair value of the 6.50% Senior Subordinated Notes due 2019 ("6.50% Notes") and the 6.75% Senior Subordinated Notes ("6.75% Notes") (Note 4, Long-Term Debt) are based on quoted market prices. The fair value of the Company's Industrial Development Bonds and other long-term debt (Note 4, Long-Term Debt) have been estimated using discounted cash flow analyses based on current borrowing rates for debt with similar remaining maturities and ratings. The estimated fair value of the 6.50% Notes, 6.75% Notes, Industrial Development Bonds and other long-term debt as of July 31, 2011 and 2010 is presented below (in thousands):
Stock-Based Compensation-- Stock-based compensation expense is measured at the grant date based upon the fair value of the portion of the award that is ultimately expected to vest and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17, Stock Compensation Plan for more information). The following table shows total stock-based compensation expense for the years ended July 31, 2011, 2010 and 2009 included in the Consolidated Statements of Operations (in thousands):
Concentration of Credit Risk-- The Company's financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high quality credit institutions, but these investments may be in excess of FDIC insurance limits. The Company does not enter into financial instruments for hedging, trading or speculative purposes. Concentration of credit risk with respect to trade and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions.
Use of Estimates-- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Standards-- In June 2009, the FASB issued guidance which is included in Accounting Standards Codification ("ASC") 810, "Consolidation" which amends the consolidation guidance for variable interest entities. Under this new standard, entities must perform a qualitative assessment in determining the primary beneficiary of a variable interest entity which includes, among other things, consideration as to whether a variable interest holder has the power to direct the activities that most significantly impact the economic performance of the variable interest entity and the obligation to absorb losses or the right to receive benefits of the variable interest entity that could potentially be significant to the variable interest entity. This standard was effective for the Company beginning August 1, 2010. The adoption of this accounting standard did not have a material impact on the Company's financial position or results of operations. In September 2009, the FASB issued Accounting Standards Update ("ASU") 2009-13, "Multiple-Deliverables Revenue Arrangements" (amendments to ASC Topic 605, "Revenue Recognition," and the Emerging Issues Task Force Issue No. 08-01 "Revenue Arrangements with Multiple Deliverables") which amends the revenue recognition guidance for arrangements with multiple deliverables. This new standard requires entities to allocate revenue in arrangements with multiple deliverables using estimated selling prices and eliminates the use of the residual method. The provisions of this new standard were effective for the Company beginning August 1, 2010. The adoption of this accounting standard did not have a material impact on the Company's financial position or results of operations. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Common Share
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| Net Income Per Common Share |
Basic earnings per share ("EPS") excludes dilution and is computed by dividing net income attributable to Vail Resorts stockholders by the weighted-average shares outstanding. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, resulting in the issuance of shares of common stock that would then share in the earnings of the Company. Presented below is basic and diluted EPS for the years ended July 31, 2011, 2010 and 2009 (in thousands, except per share amounts):
The number of shares issuable on the exercise of share based awards that were excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled 57,000, 22,000 and 795,000 for the years ended July 31, 2011, 2010 and 2009, respectively. On June 7, 2011 the Company's Board of Directors approved the commencement of a regular quarterly cash dividend on our common stock at an annual rate estimated to be $0.60 per share, subject to quarterly declaration. During the three months ended July 31, 2011, the Company paid cash dividends of $0.15 per share ($5.4 million in the aggregate). On September 20, 2011 the Company's Board of Directors approved a quarterly cash dividend of $0.15 per share payable on October 27, 2011 to stockholders of record as of October 12, 2011. |
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Jul. 31, 2011
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| Long-Term Debt |
Long-term debt as of July 31, 2011 and 2010 is summarized as follows (in thousands):
Aggregate maturities for debt outstanding as of July 31, 2011 reflected by fiscal year are as follows (in thousands):
The Company recorded gross interest expense of $34.2 million, $33.8 million and $35.2 million for the years ended July 31, 2011, 2010 and 2009, respectively, of which $1.7 million, $1.6 million and $2.0 million was amortization of deferred financing costs. The Company capitalized $0.6 million, $16.3 million and $7.6 million of interest during the years ended July 31, 2011, 2010 and 2009, respectively. The Company was in compliance with all of its financial and operating covenants required to be maintained under its debt instruments for all periods presented. |
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Acquisitions | 5. Acquisitions Northstar-at-Tahoe On October 25, 2010, the Company acquired for cash 100% of the capital stock of BCRP Inc. and the membership interest of Northstar Group Commercial Properties LLC (together, with their subsidiaries "Northstar-at-Tahoe") that operate the Northstar-at-Tahoe mountain resort in North Lake Tahoe, California from Booth Creek Resort Properties LLC and other sellers for a total consideration of $60.5 million, net of cash acquired. Northstar-at-Tahoe is a year round mountain resort providing a comprehensive offering of recreational activities, including both snow sports and summer activities. Additionally, Northstar-at-Tahoe operates a base area village at the resort, including the subleasing of commercial retail space and condominium property management. The following summarizes the preliminary estimated fair values of the identifiable assets acquired and liabilities assumed at the acquisition date (in thousands).
The operations of Northstar-at-Tahoe are conducted on land and with operating assets owned by CNL Lifestyle Properties, Inc. primarily under operating lease agreements which were assumed by the Company. Under the terms of the leases, the Company estimates that it will be required to pay above market rates in the aggregate through the remainder of the initial lease term expiring in fiscal 2027. The Company has recorded a net unfavorable lease obligation for these leases that will be amortized as an adjustment to lease expense over the remaining initial lease term. The excess of the purchase price over the aggregate fair values of assets acquired and liabilities assumed was recorded as goodwill. The goodwill recognized is attributable primarily to expected synergies, the assembled workforce of Northstar-at-Tahoe and other factors. None of the goodwill is expected to be deductible for income tax purposes. The intangible assets have a weighted-average amortization period of 4.6 years. The operating results of Northstar-at-Tahoe have contributed $67.9 million of net revenue for the year ended July 31, 2011. Additionally, the Company has recognized $4.1 million of acquisition related expenses in the Consolidated Statements of Operations for the year ended July 31, 2011. The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisition of Northstar-at-Tahoe was completed on August 1, 2009. The following unaudited pro forma financial information includes adjustments for (i) depreciation and interest expense for capital leases on acquired property, plant and equipment and amortization of intangible assets recorded at the date of acquisition; (ii) straight-line expense recognition of minimum future lease payments from the date of acquisition, including the amortization of the net unfavorable lease obligations; and (iii) acquisition related costs. This unaudited pro forma financial information is presented for informational purposes only and does not purport to be indicative of the results of future operations or the results that would have occurred had the acquisition taken place on August 1, 2009 (in thousands, except per share amounts).
Mountain News Corporation On May 28, 2010, the Company acquired the capital stock of Mountain News Corporation ("Mountain News"), which owns and operates several websites focused on the ski and snowboarding industry, for total consideration of $16.5 million. The purchase price was allocated to tangible and identifiable intangible assets acquired based on their fair values at the acquisition date. The Company allocated the purchase price and recorded $12.9 million in goodwill, $1.2 million in indefinite- lived intangible assets, $2.6 million in fixed assets, $1.7 million in other intangibles (with a weighted-average amortization period of 6.4 years) and assumed liabilities of $0.9 million on the date of acquisition. The operating results of Mountain News are allocated to the Company's Mountain segment. Colorado Mountain Express On November 1, 2008, the Company acquired substantially all of the assets of CME, a resort ground transportation business, for a total consideration of $38.2 million, as well as $0.9 million to reimburse the seller for certain new capital expenditures as provided for in the purchase agreement. The purchase price was allocated to tangible and identifiable intangible assets acquired based on their fair values at the acquisition date. The Company allocated the purchase price and recorded $25.7 million in goodwill, $4.3 million in indefinite- lived intangible assets, $6.1 million of fixed assets and $3.2 million of other intangibles (with a weighted-average amortization period of 8.3 years) on the date of acquisition. The operating results of CME are reported within the Lodging segment. |
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Jul. 31, 2011
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| Supplementary Balance Sheet Information | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplementary Balance Sheet Information |
The composition of property, plant and equipment follows (in thousands):
Depreciation expense for the years ended July 31, 2011, 2010 and 2009 totaled $116.3 million, $109.8 million and $106.6 million, respectively.
The composition of goodwill and intangible assets follows (in thousands):
Amortization expense for intangible assets subject to amortization for the years ended July 31, 2011, 2010 and 2009 totaled $1.7 million, $0.8 million and $0.6 million, respectively, and is estimated to be approximately $1.2 million annually, on average, for the next five fiscal years. The changes in the net carrying amount of goodwill allocated between the Company's segments for the years ended July 31, 2011 and 2010 are as follows (in thousands):
The composition of accounts payable and accrued liabilities follows (in thousands):
The composition of other long-term liabilities follows (in thousands):
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- Definition
The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. No definition available.
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- Details
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Investments In Affiliates
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Jul. 31, 2011
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| Investments In Affiliates | ||||||||||||||||||
| Investments In Affiliates |
The Company held the following investments in equity method affiliates as of July 31, 2011:
The Company had total net investments in equity method affiliates of $6.7 million and $6.2 million as of July 31, 2011 and 2010, respectively, classified as "deferred charges and other assets" in the accompanying Consolidated Balance Sheets. The amount of retained earnings that represent undistributed earnings of 50-percent-or-less-owned entities accounted for by the equity method was $3.5 million and $3.0 million as of July 31, 2011 and 2010, respectively. During the years ended July 31, 2011, 2010 and 2009, distributions in the amounts of $1.0 million, $3.2 million and $1.7 million, respectively, were received from equity method affiliates. |
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- Definition
The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Variable Interest Entities
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12 Months Ended | ||
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Jul. 31, 2011
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| Variable Interest Entities | |||
| Variable Interest Entities |
The Company is the primary beneficiary of the Employee Housing Entities, which are Variable Interest Entities ("VIEs"), and has consolidated them in its Consolidated Financial Statements. As a group, as of July 31, 2011, the Employee Housing Entities had total assets of $33.6 million (primarily recorded in property, plant and equipment, net) and total liabilities of $62.7 million (primarily recorded in long-term debt as "Employee Housing Bonds"). The Company has issued under its Credit Agreement $53.4 million letters of credit related to Employee Housing Bonds. The letters of credit would be triggered in the event that one of the entities defaults on required payments. The letters of credit have no default provisions. The Company is the primary beneficiary of Avon Partners II, LLC ("APII"), which is a VIE. APII owns commercial space and the Company currently leases substantially all of that space. APII had total assets of $4.6 million (primarily recorded in property, plant and equipment) and no debt as of July 31, 2011. The Company, through various lodging subsidiaries, manages hotels in which the Company has no ownership interest in the entities that own such hotels. The Company previously extended a $2.0 million note receivable to one of these entities at the time the entity acquired the hotel property that the Company managed. This entity was formed by unrelated third parties to acquire, own, operate and realize the value in a resort hotel property. This entity was in default on certain debt held by the entity and the third party owners of the entity were unable to reach an agreement to restructure the debt with their creditor, as a result, the creditor foreclosed on the hotel in June 2011. As such, the Company recorded an asset impairment charge of $2.6 million (including accrued interest on the note receivable) in the Consolidated Statements of Operations during the year ended July 31, 2011. The Company had previously concluded that the note receivable along with the management agreement were significant variable interest in the entity that held the hotel. |
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- Details
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- Definition
Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements
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Jul. 31, 2011
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| Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements |
The FASB issued fair value guidance that establishes how reporting entities should measure fair value for measurement and disclosure purposes. The guidance establishes a common definition of fair value applicable to all assets and liabilities measured at fair value and prioritizes the inputs into valuation techniques used to measure fair value. Accordingly, the Company uses valuation techniques which maximize the use of observable inputs and minimize the use of unobservable inputs when determining fair value. The three levels of the hierarchy are as follows: Level 1: Inputs that reflect unadjusted quoted prices in active markets that are accessible to the Company for identical assets or liabilities; Level 2: Inputs include quoted prices for similar assets and liabilities in active and inactive markets or that are observable for the asset or liability either directly or indirectly; and
Level 3: Unobservable inputs which are supported by little or no market activity. The table below summarizes the Company's cash equivalents measured at fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands):
The Company's cash equivalents include money market funds (Level 1) and certificates of deposit (Level 2) which are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data. |
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- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Redeemable Noncontrolling Interest
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Jul. 31, 2011
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| Redeemable Noncontrolling Interest | |||
| Redeemable Noncontrolling Interest |
On April 23, 2010, the Company entered into a transfer agreement with GSSI LLC ("GSSI"), the noncontrolling interest holder in SSV, to acquire all of GSSI's remaining 30.7% ownership interest in SSV for a negotiated price of $31.0 million. The purchase of GSSI's interest in SSV was completed on April 30, 2010, resulting in the Company holding 100% interest in SSV. As a result of this agreement, equity-noncontrolling interest and redeemable noncontrolling interest related to SSV was eliminated. The purchase price in excess of the carrying value of the noncontrolling interest of approximately $2.6 million (net of deferred taxes) was recorded as a reduction in additional paid-in capital. Additionally, GSSI held a management agreement with SSV which was terminated concurrent with the Company's purchase of GSSI's interest in SSV. |
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- Definition
The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Income Taxes
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Jul. 31, 2011
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| Income Taxes |
As of July 31, 2011, the Company had utilized all available Federal net operating loss ("NOL") carryforwards. These NOL carryforwards expired in the year ended July 31, 2008 and were limited in deductibility each year under Section 382 of the Internal Revenue Code. The Company had only been able to use these NOL carryforwards to the extent of approximately $8.0 million per year through December 31, 2007 (the "Section 382 Amount"). However, during the year ended July 31, 2005, the Company amended previously filed tax returns (for tax years 1997-2002) in an effort to remove the restrictions under Section 382 of the Internal Revenue Code on approximately $73.8 million of NOL carryforwards to reduce future taxable income. As a result, the Company requested a refund related to the amended returns in the amount of $6.2 million and has reduced its federal tax liability in the amount of $19.6 million in subsequent returns. These NOL carryforwards relate to fresh start accounting from the Company's reorganization in 1992. During the year ended July 31, 2006, the Internal Revenue Service ("IRS") completed its examination of the Company's filing position in these amended returns and disallowed the Company's request for refund and its position to remove the restrictions under Section 382 of the Internal Revenue Code. Consequently, the accompanying financial statements and table of deferred items and components of the tax provision have only recognized benefits related to the NOL carryforwards to the extent of the Section 382 Amount reported in its tax returns prior to its amendments. The Company appealed the examiner's disallowance of these NOL carryforwards to the Office of Appeals. In December 2008, the Office of Appeals denied the Company's appeal, as well as a request for mediation. The Company disagreed with the IRS interpretation disallowing the utilization of the NOL's and in August 2009, the Company filed a complaint in the United States District Court for the District of Colorado against the United States of America seeking a refund of approximately $6.2 million in Federal income taxes paid. On July 1, 2011, the District Court granted the Company summary judgment, concluding that the IRS's decision disallowing the utilization of the NOLs was inappropriate. The sole issue now before the District Court is the amount of the tax refund to which the Company is entitled. The IRS is entitled to appeal the decision of the District Court to grant the motion for summary judgment and we do not know whether the IRS will do so or, if it does appeal, whether the appeal would be successful. The Company is also a party to two related tax proceedings in the United States Tax Court regarding calculation of NOL carryover deductions for tax years 2006, 2007 and 2008. The two proceedings involve substantially the same issues as the litigation in the District Court wherein the Company disagrees with the IRS as to the utilization of NOLs. With respect to the case involving the 2006 tax year, a trial date has been set for November 2011, but the Company expects that the case will be stayed pending final resolution of the District Court case, which as described above, now only involves the determination of the tax refund to which the Company is entitled. Similarly, while no trial date has been set, the Company expects that it will stipulate with the IRS that the case involving tax years 2007 and 2008 be stayed until the District Court proceeding is resolved. Since the legal proceeding surrounding the utilization of the NOLs have not been fully resolved, including a determination of the amount of refund and the possibility that the District Court's ruling may be appealed by the IRS, there remains considerable uncertainty of what portion, if any, of the NOLs will be realized, and as such, the Company has not reflected any of the benefits of the utilization of the restricted NOLs within its financial statements. However, the range of potential reversal of other long-term liabilities and accrued interest and penalties that would be recorded as a benefit to the Company's income tax provision is between zero and $27.6 million. The Company has state NOL carryforwards (primarily California) totaling $30.0 million of which approximately $4.9 million was acquired with the acquisition of Northstar-at-Tahoe during the year ended July 31, 2011 and which expire by the year ending July 31, 2031. As of July 31, 2011, the Company has recorded a valuation allowance of $1.6 million, primarily on California NOL carryforwards generated in prior years, as the Company has determined that it is more likely than not that these NOL carryforwards will not be realized. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and income tax purposes. Significant components of the Company's deferred tax liabilities and assets are as follows (in thousands):
The net current and non-current components of deferred income taxes recognized in the Consolidated Balance Sheets are as follows (in thousands):
Significant components of the provision (benefit) for income taxes are as follows (in thousands):
A reconciliation of the income tax provision from continuing operations and the amount computed by applying the United States Federal statutory income tax rate to income before income taxes is as follows:
A reconciliation of the beginning and ending amount of unrecognized tax benefits associated with uncertain tax positions, excluding associated deferred tax benefits and accrued interest and penalties, if applicable, is as follows (in thousands):
Any unrecognized tax benefits that became more likely than not of being realized that are recorded in other long-term liabilities would decrease the Company's effective tax rate. In addition, the Company does not anticipate a significant change to its unrecognized tax benefits during the twelve months ending July 31, 2012, subject to resolution of the legal proceedings associated with the utilization of NOL carryforwards as previously discussed. The Company's policy is to accrue income tax related interest and penalties, if applicable, within income tax expense. As of July 31, 2011 and 2010, accrued interest and penalties, net of tax, is $1.9 million and $2.2 million, respectively. For the years ended July 31, 2011, 2010 and 2009, the Company recognized $(0.2) million, $(0.2) million and $0.5 million of interest expense and penalties, net of tax, respectively.
The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The IRS has completed its examination of the Company's tax returns for tax years 2001 through 2003 and has issued a report of its findings. As discussed above, the examiner's primary finding is the disallowance of the Company's position to remove the restrictions under Section 382 of the Internal Revenue Code of approximately $73.8 million of NOL carryforwards; however, the Company has filed a complaint in Federal court. With the exception of the utilization of NOL carryforwards as discussed above, the Company is no longer subject to U.S. Federal examinations for tax years prior to 2006. With few exceptions, the Company is no longer subject to examination by various state jurisdictions for tax years prior to 2006. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions
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Jul. 31, 2011
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| Related Party Transactions | |||
| Related Party Transactions |
The Company has the right to appoint 4 of 9 directors of the Beaver Creek Resort Company of Colorado ("BCRC"), a non-profit entity formed for the benefit of property owners and certain others in Beaver Creek. The Company has a management agreement with the BCRC, renewable for one-year periods, to provide management services on a fixed fee basis. Management fees and reimbursement of operating expenses paid to the Company under its agreement with the BCRC during the years ended July 31, 2011, 2010 and 2009 totaled $6.9 million, $7.0 million and $8.0 million, respectively. SSF/VARE is a real estate brokerage with multiple locations in Eagle and Summit Counties, Colorado in which the Company has a 50% ownership interest. SSF/VARE has been the broker for several of the Company's developments. The Company recorded net real estate commissions expense of approximately $3.4 million, $3.5 million and $9.6 million for payments made to SSF/VARE during the years ended July 31, 2011, 2010 and 2009, respectively. In addition, the Company had recorded approximately $2.4 million of prepaid real estate commissions as of July 31, 2010. SSF/VARE leases space for real estate offices from the Company. The Company recognized approximately $0.4 million, $0.5 million and $0.5 million in revenue related to these leases for the years ended July 31, 2011, 2010 and 2009, respectively. In December 2008, Robert A. Katz, Chairman of the Board of Directors and Chief Executive Officer of the Company, purchased a unit at The Lodge at Vail Chalets project located near the Vista Bahn at the base of Vail Mountain for a total purchase price of $14.0 million. The sale of the unit by the Company to Mr. Katz was approved by the Board of Directors of the Company in accordance with the Company's related party transactions policy. |
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The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments And Contingencies
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Jul. 31, 2011
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| Commitments And Contingencies |
Metropolitan Districts The Company credit-enhances $8.0 million of bonds issued by Holland Creek Metropolitan District ("HCMD") through an $8.1 million letter of credit issued under the Company's Credit Agreement. HCMD's bonds were issued and used to build infrastructure associated with the Company's Red Sky Ranch residential development. The Company has agreed to pay capital improvement fees to Red Sky Ranch Metropolitan District ("RSRMD") until RSRMD's revenue streams from property taxes are sufficient to meet debt service requirements under HCMD's bonds, and the Company has recorded a liability of $1.8 million and $1.9 million, primarily within "other long-term liabilities" in the accompanying Consolidated Balance Sheets as of July 31, 2011 and 2010 with respect to the estimated present value of future RSRMD capital improvement fees. The Company estimates that it will make capital improvement fee payments under this arrangement through the year ending July 31, 2028. Guarantees/Indemnifications As of July 31, 2011, the Company had various other letters of credit in the amount of $59.7 million, consisting primarily of $53.4 million in support of the Employee Housing Bonds and $4.3 million for workers' compensation and general liability deductibles related to construction and development activities. In addition to the guarantees noted above, the Company has entered into contracts in the normal course of business which include certain indemnifications under which it could be required to make payments to third parties upon the occurrence or non-occurrence of certain future events. These indemnities include indemnities to licensees in connection with the licensees' use of the Company's trademarks and logos, indemnities for liabilities associated with the infringement of other parties' technology and software products, indemnities related to liabilities associated with the use of easements, indemnities related to employment of contract workers, the Company's use of trustees, indemnities related to the Company's use of public lands and environmental indemnifications. The duration of these indemnities generally is indefinite and generally do not limit the future payments the Company could be obligated to make.
As permitted under applicable law, the Company and certain of its subsidiaries indemnify their directors and officers over their lifetimes for certain events or occurrences while the officer or director is, or was, serving the Company or its subsidiaries in such a capacity. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has a director and officer insurance policy that should enable the Company to recover a portion of any future amounts paid. Unless otherwise noted, the Company has not recorded any significant liabilities for the letters of credit, indemnities and other guarantees noted above in the accompanying Consolidated Financial Statements, either because the Company has recorded on its Consolidated Balance Sheets the underlying liability associated with the guarantee, the guarantee is with respect to the Company's own performance and is therefore not subject to the measurement requirements as prescribed by GAAP, or because the Company has calculated the fair value of the indemnification or guarantee to be immaterial based upon the current facts and circumstances that would trigger a payment under the indemnification clause. In addition, with respect to certain indemnifications it is not possible to determine the maximum potential amount of liability under these guarantees due to the unique set of facts and circumstances that are likely to be involved in each particular claim and indemnification provision. Historically, payments made by the Company under these obligations have not been material. As noted above, the Company makes certain indemnifications to licensees in connection with their use of the Company's trademarks and logos. The Company does not record any product warranty liability with respect to these indemnifications. Commitments The operations of Northstar-at-Tahoe are conducted on land and with operating assets owned by CNL Lifestyle Properties, Inc., a real-estate investment trust, primarily under operating leases which were assumed by the Company. The leases provide for the payment of a minimum annual base rent with a rate of 10% increasing to 11% over the lease term which is recognized on a straight-line basis over the initial lease term. In addition, the leases provide for the payment of percentage rent based on a rate of 11.5% of certain gross revenues generated at the property over a revenue threshold which is incrementally adjusted annually. The initial term of the leases expires in fiscal 2027 and allows for three 10-year extensions at the Company's option. In addition, the Company has executed as lessee other operating leases for the rental of office and commercial space and employee residential units primarily through fiscal 2024. Certain of these leases have renewal terms at the Company's option, escalation clauses, rent holidays and leasehold improvement incentives. Rent holidays and rent escalation clauses are recognized on a straight-line basis over the lease term. Leasehold improvement incentives are recorded as leasehold improvements and amortized over the shorter of their economic lives or the term of the lease. For the years ended July 31, 2011, 2010 and 2009, the Company recorded lease expense (including Northstar-at-Tahoe), excluding executory costs, related to these agreements of $30.7 million, $22.1 million and $22.4 million, respectively, which is included in the accompanying Consolidated Statements of Operations. Future minimum lease payments under the above leases as of July 31, 2011 are as follows (in thousands):
Self Insurance The Company is self-insured for claims under its health benefit plans and for workers' compensation claims, subject to a stop loss policy. The self-insurance liability related to workers' compensation is determined actuarially based on claims filed. The self-insurance liability related to claims under the Company's health benefit plans is determined based on analysis of actual claims. The amounts related to these claims are included as a component of accrued benefits in accounts payable and accrued liabilities (see Note 6, Supplementary Balance Sheet Information).
Legal The Company is a party to various lawsuits arising in the ordinary course of business. Management believes the Company has adequate insurance coverage and/or has accrued for loss contingencies for all known matters that are deemed to be probable losses and estimable. As of July 31, 2011 and 2010, the accrual for loss contingencies was not material individually and in the aggregate. |
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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| Segment Information | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information |
The Company has three reportable segments: Mountain, Lodging and Real Estate. The Mountain segment includes the operations of the Company's ski resorts and related ancillary activities. The Lodging segment includes the operations of all of the Company's owned hotels, RockResorts, GTLC, condominium management, CME and golf operations. The Real Estate segment owns and develops real estate in and around the Company's resort communities. The Company's reportable segments, although integral to the success of the others, offer distinctly different products and services and require different types of management focus. As such, these segments are managed separately. The Company reports its segment results using Reported EBITDA (defined as segment net revenue less segment operating expenses, plus or minus segment equity investment income or loss, and for the Real Estate segment, plus gain on sale of real property) which is a non-GAAP financial measure. The Company reports segment results in a manner consistent with management's internal reporting of operating results to the chief operating decision maker (Chief Executive Officer) for purposes of evaluating segment performance. Reported EBITDA is not a measure of financial performance under GAAP. Items excluded from Reported EBITDA are significant components in understanding and assessing financial performance. Reported EBITDA should not be considered in isolation or as an alternative to, or substitute for, net income, net change in cash and cash equivalents or other financial statement data presented in the consolidated financial statements as indicators of financial performance or liquidity. Because Reported EBITDA is not a measurement determined in accordance with GAAP and thus is susceptible to varying calculations, Reported EBITDA as presented may not be comparable to other similarly titled measures of other companies. The Company utilizes Reported EBITDA in evaluating performance of the Company and in allocating resources to its segments. Mountain Reported EBITDA consists of Mountain net revenue less Mountain operating expense plus or minus Mountain equity investment income or loss. Lodging Reported EBITDA consists of Lodging net revenue less Lodging operating expense. Real Estate Reported EBITDA consists of Real Estate net revenue less Real Estate operating expense plus gain on sale of real property. All segment expenses include an allocation of corporate administrative expense. Assets are not allocated between segments, or used to evaluate performance, except as shown in the table below. The accounting policies specific to each segment are the same as those described in Note 2, Summary of Significant Accounting Policies. Following is key financial information by reportable segment which is used by management in evaluating performance and allocating resources (in thousands):
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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Selected Quarterly Financial Data
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Jul. 31, 2011
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| Selected Quarterly Financial Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Quarterly Financial Data |
In the current year, the Company revised its presentation of reimbursed payroll costs from managed hotel properties from a net presentation to a gross presentation in its Consolidated Statements of Operations (see Note 2, Summary of Significant Accounting Policies). The effect of this change increased Lodging net revenue for the quarters ended April 30, 2011, January 31, 2011, and October 31, 2010, from $49.8 million, $44.7 million and $44.4 million, respectively (as previously reported) to $57.5 million, $51.7 million and $51.1 million, respectively. The effect of this change increased Lodging net revenue for the quarters ended July 31, 2010, April 30, 2010, January 31, 2010, and October 31, 2009, from $44.2 million, $44.9 million, $38.7 million and $41.4 million, respectively (as previously reported) to $51.3 million, $51.9 million, $44.8 million and $47.3 million, respectively. |
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- Definition
The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Repurchase Plan
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Jul. 31, 2011
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| Stock Repurchase Plan | |||
| Stock Repurchase Plan |
On March 9, 2006, the Company's Board of Directors approved the repurchase of up to 3,000,000 shares of common stock and on July 16, 2008 approved an increase of the Company's common stock repurchase authorization by an additional 3,000,000 shares. During the year ended July 31, 2011, the Company did not repurchased any shares of common stock. Since inception of this stock repurchase plan through July 31, 2011, the Company has repurchased 4,264,804 shares at a cost of approximately $162.8 million. As of July 31, 2011, 1,735,196 shares remained available to repurchase under the existing repurchase authorization. Shares of common stock purchased pursuant to the repurchase program will be held as treasury shares and may be used for the issuance of shares under the Company's employee share award plan. |
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- Definition
Tabular disclosure of an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Compensation Plan
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Jul. 31, 2011
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| Stock Compensation Plan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock Compensation Plan |
The Company has a share award plan (the "Plan") which has been approved by the Company's shareholders. Under the Plan, 7.5 million shares of common stock could be issued in the form of options, stock appreciation rights, restricted shares, restricted share units, performance shares, performance share units, dividend equivalents or other share-based awards to employees, directors or consultants of the Company or its subsidiaries or affiliates. The terms of awards granted under the Plan, including exercise price, vesting period and life, are set by the Compensation Committee of the Board of Directors. All share-based awards (except for restricted shares and restricted share units) granted under the Plan have a life of ten years. Most awards vest ratably over three years; however, some have been granted with different vesting schedules. To date, no awards have been granted to non-employees (except those granted to non-employee members of the Board of Directors of the Company and of a consolidated subsidiary) under the Plan. At July 31, 2011, approximately 3.0 million share-based awards were available to be granted under the Plan. The fair value of stock-settled stock appreciation rights ("SARs") granted in the years ended July 31, 2011, 2010 and 2009 were estimated on the date of grant using a lattice-based option valuation model that applies the assumptions noted in the table below. A lattice-based model considers factors such as exercise behavior, and assumes employees will exercise equity awards at different times over the contractual life of the equity awards. As a lattice-based model considers these factors, and is more flexible, the Company considers it to be a better method of valuing equity awards than a closed-form Black-Scholes model. Because lattice-based option valuation models incorporate ranges of assumptions for inputs, those ranges are disclosed. Expected volatility is based on historical volatility of the Company's stock. The Company uses historical data to estimate equity award exercises and employee terminations within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of equity awards granted is derived from the output of the option valuation model and represents the period of time that equity awards granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behavior. The risk-free rate for periods within the contractual life of the equity award is based on the United States Treasury yield curve in effect at the time of grant.
The Company has estimated forfeiture rates that range from 17.7% to 20.1% based upon the class of employees receiving stock-based compensation in its calculation of stock-based compensation expense for the year ended July 31, 2011. These estimates are based on historical forfeiture behavior exhibited by employees of the Company. A summary of aggregate option and SARs award activity under the Plan as of July 31, 2009, 2010 and 2011, and changes during the years then ended is presented below (in thousands, except exercise price and contractual term):
The weighted-average grant-date fair value of SARs granted during the years ended July 31, 2011, 2010 and 2009 was $13.84, $13.70 and $10.34, respectively. The total intrinsic value of options and SARs exercised during the years ended July 31, 2011, 2010 and 2009 was $2.0 million, $0.7 million and $0.3 million, respectively. The Company had 288,000, 241,000 and 315,000 options and SARs that vested during the years ended July 31, 2011, 2010 and 2009, respectively. These awards had a total fair value of $0.7 million, $0.6 million and $1.5 million at the date of vesting for the years ended July 31, 2011, 2010 and 2009, respectively. A summary of the status of the Company's nonvested SARs as of July 31, 2011, and changes during the year then ended, is presented below (in thousands, except fair value amounts):
A summary of the status of the Company's nonvested restricted share units as of July 31, 2011, and changes during the year then ended, is presented below (in thousands, except fair value amounts):
The Company granted 201,000 restricted share units during the year ended July 31, 2011 with a weighted-average grant-date fair value of $37.03. The Company granted 136,000 restricted share units during the year ended July 31, 2010 with a weighted-average grant-date fair value of $36.11. The Company granted 397,000 restricted share units during the year ended July 31, 2009 with a weighted-average grant-date fair value of $26.83. The Company had 143,000, 135,000 and 137,000 restricted share awards/units that vested during the years ended July 31, 2011, 2010 and 2009, respectively. These awards/units had a total fair value of $5.9 million, $4.9 million and $3.1 million at the date of vesting for the years ended July 31, 2011, 2010 and 2009, respectively. As of July 31, 2011, there was $13.1 million of total unrecognized compensation expense related to nonvested share-based compensation arrangements granted under the Plan, of which $8.0 million, $4.4 million and $0.7 million of expense is expected to be recognized in the years ending July 31, 2012, 2013 and 2014, respectively, assuming no future share-based awards are granted. Cash received from options exercised under all share-based payment arrangements was $1.1 million, $0.5 million and $0.6 million for the years ended July 31, 2011, 2010 and 2009, respectively. The tax benefit realized or to be realized for the tax deductions from options/SARs exercised and restricted stock awards/units vested was $2.5 million, $2.1 million and $1.6 million for the years ended July 31, 2011, 2010 and 2009, respectively. The Company has a policy of using either authorized and unissued shares or treasury shares, including shares acquired by purchase in the open market or in private transactions, to satisfy equity award exercises. |
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- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Retirement And Profit Sharing Plans
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Jul. 31, 2011
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| Retirement And Profit Sharing Plans | |||
| Retirement And Profit Sharing Plans |
The Company maintains a defined contribution retirement plan (the "Retirement Plan"), qualified under Section 401(k) of the Internal Revenue Code, for its employees. Under this Retirement Plan, employees are eligible to make before-tax contributions on the first day of the calendar month following the later of: (i) their employment commencement date or (ii) the date they turn 21. Participants may contribute up to 100% of their qualifying annual compensation up to the annual maximum specified by the Internal Revenue Code. Prior to January 1, 2009, the Company matched an amount equal to 50% of each participant's contribution up to 6% of a participant's bi-weekly qualifying compensation upon obtaining the later of: (i) 12 consecutive months of employment and 1,000 service hours or (ii) 1,500 service hours since the employment commencement date. On January 1, 2009, the Company suspended making matching contributions to the Retirement Plan. On April 1, 2010, the Company partially reinstated its matching contributions to the Retirement Plan and plans to fully reinstate its matching contributions ratably over a three year period. The Company's matching contribution is entirely discretionary and may be fully reinstated, reduced or eliminated at any time. Total Retirement Plan expense recognized by the Company for the years ended July 31, 2011, 2010 and 2009 was $1.5 million, $0.4 million and $1.3 million, respectively. |
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- Definition
Entire disclosure for defined contribtuion plan. A defined contribution plan provides benefits in return for services rendered, provides an individual account for each participant, and has terms that specify how contributions to the individual's account are to be determined rather than the amount of benefits the individual is to receive. Disclosure includes a description of the terms and benefits provided by the employer's defined contribution plans. No definition available.
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Guarantor Subsidiaries And Non-Guarantor Subsidiaries
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Jul. 31, 2011
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| Guarantor Subsidiaries And Non-Guarantor Subsidiaries |
The Company's payment obligations under the 6.50% Notes (see Note 4, Long-Term Debt) are fully and unconditionally guaranteed on a joint and several, senior subordinated basis by substantially all of the Company's consolidated subsidiaries (including VR Acquisition, Inc., BCRP, Inc., Booth Creek Ski Holdings, Inc., Trimont Land Company, Northstar Commercial Properties LLC, and Northstar Group Restaurant Properties LLC (collectively, "Northstar-at-Tahoe") which were non-guarantor subsidiaries under the 6.75% Notes) (collectively, and excluding Non-Guarantor Subsidiaries (as defined below), the "Guarantor Subsidiaries"), except for, Eagle Park Reservoir Company, Larkspur Restaurant & Bar, LLC, and certain other insignificant entities (together, the "Non-Guarantor Subsidiaries"). APII and the Employee Housing Entities are included with the Non-Guarantor Subsidiaries for purposes of the consolidated financial information, but are not considered subsidiaries under the indenture governing the 6.50% Notes. Presented below is the consolidated financial information of the Parent Company, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries. Financial information for the Non-Guarantor Subsidiaries is presented in the column titled "Other Subsidiaries." Balance sheets are presented as of July 31, 2011 and 2010. Statements of operations and statements of cash flows are presented for the years ended July 31, 2011, 2010 and 2009. In the current year, the Company revised its presentation of reimbursed payroll costs from managed hotel properties from a net presentation to a gross presentation in its Consolidated Statements of Operations (see Note 2, Summary of Significant Accounting Policies). Total revenue and total operating expense in the statements of operations for the years ended July 31, 2010 and 2009 for the Guarantor Subsidiaries presented below have been revised to reflect this presentation .
Investments in subsidiaries are accounted for by the Parent Company and Guarantor Subsidiaries using the equity method of accounting. Net income (loss) of Guarantor and Non-Guarantor Subsidiaries is, therefore, reflected in the Parent Company's and Guarantor Subsidiaries' investments in and advances to (from) subsidiaries. Net income (loss) of the Guarantor and Non-Guarantor Subsidiaries is reflected in Guarantor Subsidiaries and Parent Company as equity in consolidated subsidiaries. The elimination entries eliminate investments in Other Subsidiaries and intercompany balances and transactions for consolidated reporting purposes.
Supplemental Condensed Consolidating Balance Sheet As of July 31, 2011 (in thousands)
Supplemental Condensed Consolidating Balance Sheet As of July 31, 2010 (in thousands)
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2011 (in thousands)
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2010 (in thousands)
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2009 (in thousands)
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2011 (in thousands)
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2010 (in thousands)
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2009 (in thousands)
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- Definition
Describes certain required disclosures when a company guarantee's payment obligations, the parent company need not include financial statements of the subsidiary guarantor if: 1) the guarantees are full and unconditional; 2) the guarantees are joint and several; and 3) the parent's financial statement footnotes include, condensed consolidating financial information for the same periods with a separate column for: i) the parent company; ii) the guarantor subsidiaries of the parent company on a combined basis; iii) any other subsidiaries of the parent company on a combined basis; iv) consolidating adjustments; and v) the total consolidated amounts. No definition available.
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Valuation And Qualifying Accounts And Reserves
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Jul. 31, 2011
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| Valuation And Qualifying Accounts And Reserves | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Valuation And Qualifying Accounts And Reserve |
Consolidated Financial Statement Schedule Schedule II - Valuation and Qualifying Accounts and Reserves (in thousands) For the Years Ended July 31,
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- Definition
The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary Of Significant Accounting Policies (Policy)
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Jul. 31, 2011
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| Summary Of Significant Accounting Policies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principles Of Consolidation | Principles of Consolidation-- The accompanying Consolidated Financial Statements include the accounts of the Company, its majority-owned subsidiaries and all variable interest entities for which the Company is the primary beneficiary. Investments in which the Company does not have a controlling interest or is not the primary beneficiary are accounted for under the equity method. All significant intercompany transactions have been eliminated in consolidation. |
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| Cash And Cash Equivalents | Cash and Cash Equivalents-- The Company considers all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. |
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| Restricted Cash | Restricted Cash-- Restricted cash primarily represents amounts held as state-regulated reserves for self-insured workers' compensation claims and owner and guest advance deposits held in escrow for lodging reservations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Trade Receivables | Trade Receivables-- The Company records trade accounts receivable in the normal course of business related to the sale of products or services. The Company generally charges interest on past due accounts at a rate of 18% per annum. The allowance for doubtful accounts is based on a specific reserve analysis and on a percentage of accounts receivable, and takes into consideration such factors as historical write-offs, the economic climate and other factors that could affect collectability. Write-offs are evaluated on a case by case basis. |
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| Inventories | Inventories-- The Company's inventories consist primarily of purchased retail goods, food and beverage items and spare parts. Inventories are stated at the lower of cost or fair value, determined using primarily an average weighted cost method. The Company records a reserve for estimated shrinkage and obsolete or unusable inventory. |
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| Property, Plant And Equipment | Property, Plant and Equipment-- Property, plant and equipment is carried at cost net of accumulated depreciation. Repairs and maintenance are expensed as incurred. Expenditures that improve the functionality of the related asset or extend the useful life are capitalized. When property, plant and equipment is retired or otherwise disposed of, the related gain or loss is included in operating income. Depreciation is calculated on the straight-line method generally based on the following useful lives:
The Company capitalizes interest on non-real estate construction projects expected to take longer than one year to complete and cost more than $1.0 million. The Company records capitalized interest once construction activities commence and capitalized $0.1 million, $1.1 million and $0.8 million of interest on non-real estate projects during the years ended July 31, 2011, 2010 and 2009, respectively. The Company has certain assets being used in resort operations that were constructed as amenities in conjunction with real estate development and included in project costs and expensed as the real estate was sold. Accordingly, there is no carrying value and no depreciation expense related to these assets in the Company's Consolidated Financial Statements. These assets were primarily placed in service from 1995 to 1997 with an original cost of approximately $33.0 million and an average estimated useful life of 15 years. |
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| Real Estate Held For Sale And Investment | Real Estate Held for Sale and Investment-- The Company capitalizes as real estate held for sale and investment the original land acquisition cost, direct construction and development costs, property taxes, interest recorded on costs related to real estate under development and other related costs, including costs that will be capitalized as resort depreciable assets associated with mixed-use real estate development projects for which the Company cannot specifically identify the components at the time of incurring such cash outflows until the property reaches its intended use. Additionally, the Company records depreciation on completed condominium units that are placed in rental programs until such units are sold. Sales and marketing expenses are charged against income in the period incurred. Sales commission expenses are charged against income in the period that the related revenue from real estate sales is recorded. The Company records capitalized interest once construction activities commence and real estate deposits have been utilized in construction. Interest capitalized on real estate development projects during the years ended July 31, 2011, 2010 and 2009 was $0.5 million, $15.1 million and $6.8 million, respectively. |
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| Deferred Financing Costs | Deferred Financing Costs-- Certain costs incurred with the issuance of debt securities are capitalized and included in deferred charges and other assets, net of accumulated amortization. Amortization is charged to interest expense over the respective term of the applicable debt issues. |
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| Goodwill And Intangible Assets | Goodwill and Intangible Assets-- The Company has classified as goodwill the cost in excess of fair value of the net assets of businesses acquired in purchase transactions. The Company's major intangible asset classes are trademarks, water rights, customer lists, property management contracts, Forest Service permits and excess reorganization value. Goodwill and certain indefinite-lived intangible assets, including trademarks, water rights and excess reorganization value, are not amortized, but are subject to at least annual impairment testing. The Company tests annually (or more often, if necessary) for impairment as of May 1. Amortizable intangible assets are amortized over the shorter of their contractual terms or estimated useful lives. The testing for impairment consists of a comparison of the fair value of the assets with their carrying values (including goodwill and other intangibles) for each reporting unit. If the carrying amount of the assets exceed its fair value, an impairment will be recognized in an amount equal to that excess. If the carrying amount of the assets does not exceed the fair value, no impairment is recognized. The Company determines the estimated fair value of its reporting units using a discounted cash flow analysis. The fair value of indefinite-lived intangible assets is estimated using an income approach. The Company determined that there was no impairment to goodwill or intangible assets during the years ended July 31, 2011, 2010 and 2009 |
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| Long-Lived Assets | Long-lived Assets-- The Company evaluates potential impairment of long-lived assets and long-lived assets to be disposed of whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If the sum of the expected cash flows, on an undiscounted basis, is less than the carrying amount of the asset, an impairment loss is recognized as the amount by which the carrying amount of the asset exceeds its fair value. The Company does not believe any events or changes in circumstances indicating an impairment of the carrying amount of a long-lived asset occurred during the years ended July 31, 2011, 2010 and 2009. See Note 8, Variable Interest Entities, for impairment charge recorded on a note receivable. |
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| Revenue Recognition | Revenue Recognition-- The following describes the composition of revenues for the Company:
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| Revision Of Payroll Cost Reimbursement From Managed Hotel Properties | Revision of Payroll Cost Reimbursement from Managed Hotel Properties-- Revenue from reimbursement of payroll costs relates to payroll costs of managed hotel properties where the Company is the employer. The reimbursements are based upon the costs incurred with no added margin; therefore, these revenues and corresponding expenses have no net effect on the Company's operating income or net income. The Company previously reported payroll cost reimbursement from managed hotel properties net of reimbursed payroll costs; however, as the Company is the employer at certain managed hotel properties, and thus the primary obligor, these amounts should be reported gross. The Company determined that the impact of these revisions were not material to the Consolidated Statements of Operations to all applicable prior interim and annual periods. For the year ended July 31, 2011, revenue and expenses relating to reimbursed payroll costs were $28.6 million. For the years ended July 31, 2010 and 2009, the Company revised its presentation of these reimbursed payroll costs from a net presentation to a gross presentation in its Consolidated Statements of Operations to conform to its current year presentation. The effect of this change increased Lodging net revenue for the years ended July 31, 2010 and 2009 from $169.1 million and $176.2 million, respectively (as previously reported in the prior year's Annual Report on Form 10-K) to $195.3 million and $203.6 million, respectively, with a corresponding increase in the Lodging operating expense for the years ended July 31, 2010 and 2009 from $166.7 million and $169.5 million, respectively (as previously reported in the prior year's Annual Report on Form 10-K) to $192.9 million and $196.9 million, respectively. Additionally, previously reported quarterly financial data for Fiscal 2011 and Fiscal 2010 as presented in Note 15, Selected Quarterly Financial Data (unaudited), and the information for the years ended July 31, 2010 and 2009 as presented in Note 14, Segment Information, and Note 19, Guarantor Subsidiaries and Non-Guarantor Subsidiaries have been revised to reflect these revisions. |
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| Real Estate Cost Of Sales | Real Estate Cost of Sales-- Costs of real estate transactions include direct project costs, common cost allocations (primarily determined on relative sales value) and may include accrued liabilities for costs to be incurred subsequent to the sales transaction. The Company utilizes the relative sales value method to determine cost of sales for individual parcels of real estate or condominium/townhome units sold within a project, when specific identification of costs cannot be reasonably determined. Estimates of project costs and cost allocations are reviewed at the end of each financial reporting period until a project is substantially completed and available for sale. Costs are revised and reallocated as necessary for material changes on the basis of current estimates and are reported as a change in estimate in the current period. Additionally, for the year ended July 31, 2009 the Company recorded a $2.8 million charge for an affordable housing commitment related to the Jackson Hole Golf & Tennis Club ("JHG&TC") development. |
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| Deferred Revenue | Deferred Revenue-- In addition to deferring certain revenue related to private club initiation fees, the Company records deferred revenue related to the sale of season ski passes. The number of season pass holder visits is estimated based on historical data and the deferred revenue is recognized throughout the season based on this estimate, or on a straight-line basis if usage patterns cannot be determined based on available historical data. |
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| Reserve Estimates | Reserve Estimates-- The Company uses estimates to record reserves for certain liabilities, including medical claims, workers' compensation, third-party loss contingencies, liabilities for the completion of real estate sold by the Company, property taxes and loyalty reward programs among other items. The Company estimates the potential costs related to these liabilities that will be incurred and records that amount as a liability in its consolidated financial statements. These estimates are reviewed and adjusted as the facts and circumstances related to the liabilities change. The Company records legal costs related to defending claims as incurred. |
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| Advertising Costs | Advertising Costs-- Advertising costs are expensed at the time such advertising commences. Advertising expense for the years ended July 31, 2011, 2010 and 2009 was $20.3 million, $18.8 million and $17.9 million, respectively. Prepaid advertising costs as of July 31, 2011 and 2010 was $0.2 million and $0.3 million, respectively and is reported within "other current assets" in the Company's Consolidated Balance Sheets. |
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| Income Taxes | Income Taxes-- The Company's provision for income taxes is based on current pre-tax income, changes in deferred tax assets and liabilities and changes in estimates with regard to uncertain tax positions. Deferred tax assets and liabilities are recorded for the estimated future tax effects of temporary differences between the tax bases of assets and liabilities and amounts reported in the accompanying Consolidated Balance Sheets and for operating loss and tax credit carryforwards. The change in deferred tax assets and liabilities for the period measures the deferred tax provision or benefit for the period. Effects of changes in enacted tax laws on deferred tax assets and liabilities are reflected as adjustments to the tax provision or benefit in the period of enactment. The Company's deferred tax assets have been reduced by a valuation allowance to the extent it is deemed to be more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is "more-likely-than-not" to be sustained, on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement (see Note 11, Income Taxes, for more information). |
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| Fair Value Of Financial Instruments | Fair Value of Financial Instruments-- The recorded amounts for cash and cash equivalents, receivables, other current assets, and accounts payable and accrued liabilities approximate fair value due to their short-term nature. The fair value of amounts outstanding under the Employee Housing Bonds (as defined in Note 4, Long-Term Debt) approximate book value due to the variable nature of the interest rate associated with that debt. The fair value of the 6.50% Senior Subordinated Notes due 2019 ("6.50% Notes") and the 6.75% Senior Subordinated Notes ("6.75% Notes") (Note 4, Long-Term Debt) are based on quoted market prices. The fair value of the Company's Industrial Development Bonds and other long-term debt (Note 4, Long-Term Debt) have been estimated using discounted cash flow analyses based on current borrowing rates for debt with similar remaining maturities and ratings. The estimated fair value of the 6.50% Notes, 6.75% Notes, Industrial Development Bonds and other long-term debt as of July 31, 2011 and 2010 is presented below (in thousands):
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| Stock-Based Compensation | Stock-Based Compensation-- Stock-based compensation expense is measured at the grant date based upon the fair value of the portion of the award that is ultimately expected to vest and is recognized as expense over the applicable vesting period of the award generally using the straight-line method (see Note 17, Stock Compensation Plan for more information). The following table shows total stock-based compensation expense for the years ended July 31, 2011, 2010 and 2009 included in the Consolidated Statements of Operations (in thousands):
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| Concentration Of Credit Risk | Concentration of Credit Risk-- The Company's financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company places its cash and temporary cash investments in high quality credit institutions, but these investments may be in excess of FDIC insurance limits. The Company does not enter into financial instruments for hedging, trading or speculative purposes. Concentration of credit risk with respect to trade and notes receivables is limited due to the wide variety of customers and markets in which the Company transacts business, as well as their dispersion across many geographical areas. The Company performs ongoing credit evaluations of its customers and generally does not require collateral, but does require advance deposits on certain transactions. |
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| Use Of Estimates | Use of Estimates-- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. |
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| X | ||||||||||
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- Definition
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. No definition available.
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for recognizing unearned income or deferred revenue related to transactions involving the sale of a product or performance of services. No definition available.
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| X | ||||||||||
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- Definition
Revision of payroll cost reimbursement from managed hotel properties [Policy Text Block] No definition available.
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for deferral and amortization of significant deferred charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for estimating its liability as of the balance sheet date for the ultimate cost of settling reported and unreported claims incurred and claims adjustment expenses (including effects of inflation and other societal and economic factors). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for real estate held for development or sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary Of Significant Accounting Policies (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Summary Of Significant Accounting Policies | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary On Estimated Useful Life Of Property, Plant And Equipment |
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| Summary Of Estimated Fair Value Of Financial Instruments |
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| Allocation Of Stock-Based Compensation Expense |
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| X | ||||||||||
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- Definition
Schedule of Estimated Useful Life of Property, Plant and Equipment [Table Text Block] No definition available.
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| X | ||||||||||
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- Definition
Schedule of Fair Value of Financial Instruments [Table Text Block] No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Common Share (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Net Income Per Common Share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of Calculation On Basic And Diluted EPS |
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
Tabular disclosure of an entity's basic and diluted earnings per share calculations. No definition available.
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Long-Term Debt (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Long-Term Debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Long-Term Debt |
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| Schedule Of Aggregate Maturities For Debt Outstanding |
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Acquisitions (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Acquisitions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed |
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| Summary Pro Forma Financial Information |
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| X | ||||||||||
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- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Supplementary Balance Sheet Information (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Supplementary Balance Sheet Information | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition Of Property, Plant And Equipment |
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| Composition Of Goodwill And Intangible Assets |
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| Changes In Goodwill Amount |
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| Components Of Accounts Payable And Accrued Liabilities |
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| Components Of Other Long-Term Liabilities |
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| X | ||||||||||
|
- Definition
Schedule of Other Long-term Liabilities [Table Text Block] No definition available.
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| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the aggregate amount of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Investments In Affiliates (Tables)
|
12 Months Ended | |||||||||||||||
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|
Jul. 31, 2011
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| Investments In Affiliates | ||||||||||||||||
| Disclosure Of Equity Method Investments In Affiliates |
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| X | ||||||||||
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- Definition
Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Fair Value Measurements (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Fair Value Measurements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of Cash Equivalents Measured At Fair Value |
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- Definition
Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets and liabilities that are measured on a recurring and/or nonrecurring basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Income Taxes (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Income Taxes | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components Of Deferred Tax Liabilities And Assets |
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| Net Current And Non-Current Components Of Deferred Income Taxes |
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| Components Of Provision (Benefit) For Income Taxes |
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| Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation |
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| Reconciliation Of Unrecognized Tax Benefits |
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- Definition
Schedule Of Net Current And Non Current Components Of Deferred Income Taxes [Table Text Block] No definition available.
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- Details
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- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments And Contingencies (Tables)
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Jul. 31, 2011
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| Commitments And Contingencies | |||||||||||||||||||||||||||||||||||||||||
| Future Minimum Lease Payments |
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- Details
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- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
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| Segment Information | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary Of Financial Information By Reportable Segment |
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| X | ||||||||||
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- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Selected Quarterly Financial Data (Tables)
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Jul. 31, 2011
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| Selected Quarterly Financial Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Quarterly Financial Data |
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Compensation Plan (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jul. 31, 2011
|
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| Stock Compensation Plan | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Share Based Compensation Valuation Model |
|
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| Schedule Of Share Based Compensation Option And SARs Award Activity |
|
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| Schedule of Share Based Compensation SARs Activity |
|
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| Schedule Of Share Based Compensation Restricted Stock Units Activity |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the changes in outstanding nonvested restricted stock units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Jul. 31, 2011
|
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| Guarantor Subsidiaries And Non-Guarantor Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Condensed Consolidating Balance Sheet | Supplemental Condensed Consolidating Balance Sheet As of July 31, 2011 (in thousands)
Supplemental Condensed Consolidating Balance Sheet As of July 31, 2010 (in thousands)
|
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| Supplemental Condensed Consolidating Statement Of Operations | Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2011 (in thousands)
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2010 (in thousands)
Supplemental Condensed Consolidating Statement of Operations For the year ended July 31, 2009 (in thousands)
|
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| Supplemental Condensed Consolidating Statement Of Cash Flows | Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2011 (in thousands)
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2010 (in thousands)
Supplemental Condensed Consolidating Statement of Cash Flows For the year ended July 31, 2009 (in thousands)
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of condensed consolidated balance sheet for the periods presented. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of condensed consolidating cash flows for the periods presented. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of condensed consolidating statement of operations for the periods presented. No definition available.
|
| X | ||||||||||
|
- Definition
Lodging net revenue before revision of payroll cost reimbursement. No definition available.
|
| X | ||||||||||
|
- Definition
Lodging operating expense before revision of payroll cost reimbursement. No definition available.
|
| X | ||||||||||
|
- Definition
The original average estimated useful life of certain assets being used in resort operations that were constructed as amenities in conjunction with real estate development. No definition available.
|
| X | ||||||||||
|
- Definition
Expense charged during the period for an affordable housing commitment. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of interest that was capitalized during the period on non-real estate construction projects. No definition available.
|
| X | ||||||||||
|
- Definition
Costs incurred that are directly related to generating lodging revenues, including labor and labor-related benefits and general and administrative expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities. No definition available.
|
| X | ||||||||||
|
- Definition
Interest Rate charged on past due trade accounts receivables. No definition available.
|
| X | ||||||||||
|
- Definition
Recognized private club initiation fees, average remaining period. No definition available.
|
| X | ||||||||||
|
- Definition
Private club recognized initiation fees, refund period. No definition available.
|
| X | ||||||||||
|
- Definition
Threshold for capitalizing interest on non-real estate construction projects. No definition available.
|
| X | ||||||||||
|
- Definition
Company's policy for capitalizing interest on non-real estate construction projects. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of interest costs capitalized during the period on real estate development projects. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue and expenses relating to reimbursed payroll costs of managed hotel properties where the Company is the employer. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue Recorded Under Percentage of Completion Method No definition available.
|
| X | ||||||||||
|
- Definition
The original cost of certain assets being used in resort operations that were constructed as amenities in conjunction with real estate development. No definition available.
|
| X | ||||||||||
|
- Definition
Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of amounts paid in advance for advertising airtime or print media advertising space for which the advertising associated with the payment will air or appear in print within one year or the normal operating cycle, if longer. Also includes direct-response advertising reported as assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary Of Significant Accounting Policies (Summary On Estimated Useful Life Of Property, Plant And Equipment) (Details)
|
12 Months Ended |
|---|---|
|
Jul. 31, 2011
years
|
|
|
Land Improvements [Member]
|
|
| Minimum estimated life in years | 10 |
| Maximum estimated life in years | 35 |
|
Buildings and Building Improvements [Member]
|
|
| Minimum estimated life in years | 7 |
| Maximum estimated life in years | 30 |
|
Machinery and Equipment [Member]
|
|
| Minimum estimated life in years | 2 |
| Maximum estimated life in years | 30 |
|
Furniture and Fixtures [Member]
|
|
| Minimum estimated life in years | 3 |
| Maximum estimated life in years | 10 |
|
Software [Member]
|
|
| Estimated life in years | 3 |
|
Vehicles [Member]
|
|
| Minimum estimated life in years | 3 |
| Maximum estimated life in years | 4 |
| X | ||||||||||
|
- Definition
The average useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum useful life of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. No definition available.
|
|
Summary Of Significant Accounting Policies (Summary Of Estimated Fair Value Of Financial Instruments) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
| Carrying value | $ 490,698 | $ 524,842 |
|
6.50% Notes [Member]
|
||
| Carrying value | 390,000 | |
| Fair value | 397,800 | |
|
6.75% Notes [Member]
|
||
| Carrying value | 390,000 | |
| Fair value | 394,875 | |
|
Industrial Development Bonds [Member]
|
||
| Carrying value | 41,200 | 42,700 |
| Fair value | 47,581 | 48,756 |
|
Other Long-Term Debt [Member]
|
||
| Carrying value | 7,968 | 6,436 |
| Fair value | $ 8,320 | $ 6,342 |
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary Of Significant Accounting Policies (Allocation Of Stock-Based Compensation Expense) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Pre-tax stock-based compensation expense | $ 12,493 | $ 11,843 | $ 10,741 |
| Less: benefit for income taxes | 4,738 | 4,481 | 4,071 |
| Net stock-based compensation expense | 7,755 | 7,362 | 6,670 |
|
Mountain Operating Expense [Member]
|
|||
| Pre-tax stock-based compensation expense | 7,140 | 5,332 | 4,834 |
|
Lodging Operating Expense [Member]
|
|||
| Pre-tax stock-based compensation expense | 2,088 | 2,010 | 1,778 |
|
Real Estate Operating Expense [Member]
|
|||
| Pre-tax stock-based compensation expense | $ 3,265 | $ 4,501 | $ 4,129 |
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense, net of income tax, recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
| X | ||||||||||
|
- Definition
The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Net Income Per Common Share (Details) (USD $)
Share data in Thousands, except Per Share data, unless otherwise specified |
0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 20, 2011
|
Jul. 31, 2011
|
Apr. 30, 2011
|
Jan. 31, 2011
|
Oct. 31, 2010
|
Jul. 31, 2010
|
Apr. 30, 2010
|
Jan. 31, 2010
|
Oct. 31, 2009
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Net income attributable to Vail Resorts, Inc. | $ (53,906,000) | $ 76,867,000 | $ 54,551,000 | $ (43,023,000) | $ (41,921,000) | $ 72,789,000 | $ 40,690,000 | $ (41,173,000) | $ 34,489,000 | $ 30,385,000 | $ 48,950,000 | |
| Weighted-average shares outstanding, basic | 36,009 | 36,212 | 36,546 | |||||||||
| Effect of dilutive securities, diluted | (745) | 519 | 127 | |||||||||
| Weighted-average shares outstanding, diluted | (36,754) | 36,731 | 36,673 | |||||||||
| Basic net income per share attributable to Vail Resorts, Inc. | $ (1.49) | $ 2.13 | $ 1.52 | $ (1.20) | $ (1.16) | $ 2.01 | $ 1.12 | $ (1.14) | $ 0.96 | $ 0.84 | $ 1.34 | |
| Diluted net income per share attributable to Vail Resorts, Inc. | $ (1.49) | $ 2.08 | $ 1.48 | $ (1.20) | $ (1.16) | $ 1.98 | $ 1.11 | $ (1.14) | $ 0.94 | $ 0.83 | $ 1.33 | |
| Anti-dilutive securities | 57,000 | 22,000 | 795,000 | |||||||||
| Cash dividends declared per share | $ 0.15 | $ 0.15 | $ 0.15 | |||||||||
| Cash dividend, aggregate | 5,400,000 | |||||||||||
| Estimated annual dividend amount | 0.60 | |||||||||||
|
Parent Company [Member]
|
||||||||||||
| Net income attributable to Vail Resorts, Inc. | $ 34,489,000 | $ 30,385,000 | $ 48,950,000 | |||||||||
| X | ||||||||||
|
- Definition
Estimated Annual Dividend Amount. No definition available.
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of common stock cash dividends declared by an entity during the period. This element includes paid and unpaid dividends declared during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt (Schedule Of Debt Instruments) (Details) (USD $)
|
1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Apr. 25, 2011
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2011
Credit Facility Revolver [Member]
|
Jul. 31, 2010
Credit Facility Revolver [Member]
|
Jul. 31, 2011
Industrial Development Bonds [Member]
|
Jul. 31, 2010
Industrial Development Bonds [Member]
|
Jul. 31, 2011
Employee Housing Bonds [Member]
|
Jul. 31, 2010
Employee Housing Bonds [Member]
|
Jul. 31, 2011
6.50% Notes [Member]
|
Jul. 31, 2011
6.75% Notes [Member]
|
Jul. 31, 2010
6.75% Notes [Member]
|
Jul. 31, 2011
Other [Member]
|
Jul. 31, 2010
Other [Member]
|
Jul. 31, 2011
Eagle County Bonds [Member]
Industrial Development Bonds [Member]
|
Jul. 31, 2011
Colorado Water Conservation Board Note Outstanding [Member]
Other [Member]
|
Jul. 31, 2011
Breckenridge Terrace [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tarnes [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
BC Housing [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tenderfoot [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche A [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche A [Member]
Breckenridge Terrace [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche A [Member]
Tarnes [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche A [Member]
BC Housing [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche A [Member]
Tenderfoot [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche B [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche B [Member]
Breckenridge Terrace [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche B [Member]
Tarnes [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche B [Member]
BC Housing [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Tranche B [Member]
Tenderfoot [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Maximum [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Maximum [Member]
6.50% Notes [Member]
|
Jul. 31, 2011
Maximum [Member]
Other [Member]
|
Jul. 31, 2011
Minimum [Member]
Employee Housing Bonds [Member]
|
Jul. 31, 2011
Minimum [Member]
6.50% Notes [Member]
|
Jul. 31, 2011
Minimum [Member]
Other [Member]
|
Jul. 31, 2010
Minimum [Member]
Other [Member]
|
||||||||||||||||||||||||||||
| Total debt | $ 491,743,000 | $ 526,711,000 | $ 35,000,000 | [1] | $ 41,200,000 | [2] | $ 42,700,000 | [2] | $ 52,575,000 | [3] | $ 52,575,000 | [3] | $ 390,000,000 | [4] | $ 390,000,000 | [4] | $ 7,968,000 | [5] | $ 6,436,000 | [5] | $ 19,980,000 | $ 10,410,000 | $ 10,600,000 | $ 11,585,000 | $ 37,780,000 | $ 14,980,000 | $ 8,000,000 | $ 9,100,000 | $ 5,700,000 | $ 14,795,000 | $ 5,000,000 | $ 2,410,000 | $ 1,500,000 | $ 5,885,000 | ||||||||||||||||||||||||||||||
| Less: Current maturities | 1,045,000 | [6] | 1,869,000 | [6] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt | 490,698,000 | 524,842,000 | 41,200,000 | 42,700,000 | 390,000,000 | 390,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year of maturity | 2016 | [1],[7] | 2020 | [2],[7] | 2019 | [4],[7] | -- | [4],[7] | 2039 | 2039 | 2027 | 2035 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fiscal year maturity, start | July 31, 2012 | 2027 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fiscal year maturity, end | July 31, 2029 | 2039 | 2029 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stated percentage in the debt instrument | 6.50% | 6.50% | 6.75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum borrowing capacity | 400,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reference for interest rate determination | LIBOR plus 1.25% | LIBOR plus 0% to 0.05% | LIBOR plus 0% to 0.05% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitment fees under credit facility | 0.25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Issuance of 6.50% senior subordinated notes | 390,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase call price percentage | 101.125 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on extinguishment of debt | (7,372,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt, maturity date | May 01, 2019 | Aug. 01, 2019 | Sep. 16, 2028 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long term debt interest rate | 6.50% | 6.95% | 0.24% | 6.00% | 0.19% | 1.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal payments until maturity | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premium on early redemption | 4.875% | 0.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt, outstanding amount | 5,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital lease obligations | $ 2,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Debt Instrument, Year of Maturity No definition available.
|
| X | ||||||||||
|
- Definition
Principal amount outstanding under the 6.50% Notes. No definition available.
|
| X | ||||||||||
|
- Definition
Premium On Early Redemption No definition available.
|
| X | ||||||||||
|
- Definition
Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the total principal payments made during the annual reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date before deducting unamortized discount or premiums (if any). May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Definition
The average effective interest rate during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (year, month and year, day, month and year, quarter, etc.). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
When presenting a range of maturity dates, the latest date when the outstanding debt instruments are required to be repaid. May be presented in a variety of ways (for example: year only, month and year, day, month and year, and number of years). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
When presenting a range of maturity dates, the earliest date when the outstanding debt instruments are required to be repaid. May be presented in a variety of ways (for example: year only, month and year, day, month and year, and number of years). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The exercise (or strike) price stated in the contract. The fixed price at which the option holder can purchase, in the case of a call option, or sell, in the case of a put option, on the underlying security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Long-Term Debt | |||
| 2012 | $ 1,045,000 | ||
| 2013 | 949,000 | ||
| 2014 | 509,000 | ||
| 2015 | 533,000 | ||
| 2016 | 244,000 | ||
| Thereafter | 488,463,000 | ||
| Total debt | 491,743,000 | 526,711,000 | |
| Gross interest expense | 34,200,000 | 33,800,000 | 35,200,000 |
| Amortization of deferred financing costs | 1,700,000 | 1,600,000 | 2,000,000 |
| Interest capitalized | $ 600,000 | $ 16,300,000 | $ 7,600,000 |
| X | ||||||||||
|
- Definition
The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of interest that was capitalized during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Including current and noncurrent portions, aggregate carrying amount of long-term borrowings as of the balance sheet date. May include notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, which had initial maturities beyond one year or beyond the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturities after year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing within the next twelve months following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year five following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year four following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year three following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed of determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt maturing in year two following the date of the latest balance sheet presented in the financial statements, which may include maturities of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Acquisitions (Narrative) (Details) (USD $)
|
12 Months Ended | 12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
Jul. 31, 2010
Parent Company [Member]
|
Oct. 25, 2010
BCRP Inc [Member]
|
Jul. 31, 2011
Booth Creek Resort Properties LLC [Member]
|
Jul. 31, 2011
Northstar-At-Tahoe [Member]
|
Jul. 31, 2011
Mountain News Corporation [Member]
years
|
Jul. 31, 2011
Colorado Mountain Express [Member]
years
|
|
| Effective date of business acquisition | October 25, 2010 | May 28, 2010 | November 1, 2008 | ||||||
| Ownership interest | 100.00% | ||||||||
| Total consideration | $ 62,344,000 | $ 15,870,000 | $ 38,170,000 | $ (2,193,000) | $ 60,500,000 | ||||
| Weighted-average amortization period (in years) | 4.6 | 6.4 | 8.3 | ||||||
| Net operating revenue from Acquiree | 67,900,000 | ||||||||
| Acquisition related cost | 4,100,000 | ||||||||
| Acquisition of business | 62,344,000 | 15,870,000 | 38,170,000 | (2,193,000) | 60,500,000 | ||||
| Total consideration paid for the acquisition | 60,528,000 | 16,500,000 | 38,200,000 | ||||||
| Business acquisition reimbursement by seller amount | 900,000 | ||||||||
| Purchase price allocation to goodwill | 85,446,000 | 12,900,000 | 25,700,000 | ||||||
| Purchase price allocation to indefinite-lived intangible assets | 1,200,000 | 4,300,000 | |||||||
| Purchase price allocation to fixed assets | 2,600,000 | 6,100,000 | |||||||
| Purchase price allocation to amortizable intangible assets | 1,700,000 | 3,200,000 | |||||||
| Purchase price allocation to liabilities assumed | $ 58,244,000 | $ 900,000 | |||||||
| X | ||||||||||
|
- Definition
Business acquisition reimbursement by seller amount No definition available.
|
| X | ||||||||||
|
- Definition
The amount of net revenue of the acquiree since the acquisition date included in the consolidated income statement for the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Month, date and year in which the acquirer obtains control of the acquiree. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to an identifiable intangible asset that will be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to an identifiable intangible asset that will not be amortized. Does not include goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to property, plant and equipment to be used in ongoing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The calculated weighted-average useful life of all finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
|---|---|
| Acquisitions | |
| Accounts receivable | $ 2,499 |
| Inventory | 1,894 |
| Other assets | 1,422 |
| Property, plant and equipment | 9,612 |
| Deferred income tax assets, net | 15,429 |
| Intangible assets | 2,470 |
| Goodwill | 85,446 |
| Total identifiable assets acquired | 118,772 |
| Accounts payable and accrued liabilities | 6,671 |
| Deferred revenue | 5,281 |
| Capital lease obligations | 2,892 |
| Unfavorable lease obligations, net | 43,400 |
| Total liabilities assumed | 58,244 |
| Total purchase price | $ 60,528 |
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to assets acquired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to capital lease obligations assumed from the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to accrued expenses of the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to deferred revenue of the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax assets or liabilities for the differences between the values assigned and the tax bases of assets and liabilities in a business combination, net of any valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of goodwill arising from a business combination, which is the excess of the cost of the acquired entity over the amounts assigned to assets acquired and liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to noncurrent assets of the acquired entity, except for property plant and equipment, intangible assets, and goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of acquisition cost of a business combination allocated to unfavorable contracts assumed from the acquired entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of identifiable intangible assets recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of inventory recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of property, plant, and equipment recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Acquisitions (Summary Pro Forma Financial Information) (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
|
| Acquisitions | ||
| Pro forma net revenue | $ 1,171,459 | $ 959,453 |
| Pro forma net income attributable to Vail Resorts, Inc. | $ 33,231 | $ 34,485 |
| Pro forma basic net income per share attributable to Vail Resorts, Inc. | $ 0.92 | $ 0.95 |
| Pro forma diluted net income per share attributable to Vail Resorts, Inc. | $ 0.90 | $ 0.94 |
| X | ||||||||||
|
- Definition
The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Supplementary Balance Sheet Information (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Supplementary Balance Sheet Information | |||
| Depreciation expense | $ 116.3 | $ 109.8 | $ 106.6 |
| Amortization expense for intangible assets | 1.7 | 0.8 | 0.6 |
| Estimated amortization expense for intangible assets, year one | 1.2 | ||
| Estimated amortization expense for intangible assets, year two | 1.2 | ||
| Estimated amortization expense for intangible assets, year three | 1.2 | ||
| Estimated amortization expense for intangible assets, year four | 1.2 | ||
| Estimated amortization expense for intangible assets, year five | $ 1.2 | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate amount of intangible asset amortization recognized as expense during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year five of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year four of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year one of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year three of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of amortization expense expected to be recognized during year two of the five succeeding fiscal years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
| Supplementary Balance Sheet Information | ||
| Land and land improvements | $ 271,742 | $ 270,382 |
| Buildings and building improvements | 801,582 | 769,382 |
| Machinery and equipment | 539,983 | 512,144 |
| Furniture and fixtures | 215,862 | 198,566 |
| Software | 64,408 | 56,498 |
| Vehicles | 40,627 | 35,447 |
| Construction in progress | 34,638 | 31,197 |
| Gross property, plant and equipment | 1,968,842 | 1,873,616 |
| Accumulated depreciation | (947,106) | (846,226) |
| Property, plant and equipment, net | $ 1,021,736 | $ 1,027,390 |
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of real estate held for productive use. This excludes land held for sale and alterations to land which improves its potential for use. Generally consisting of items having limited lives, such as walkways, driveways, fences, and parking lots, such improvements are depreciated over the useful lives of the subject assets. No definition available.
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of long-lived, depreciable assets that include automobiles and trucks. No definition available.
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of long-lived, depreciable assets that include building structures held for productive use including any addition, improvement, or renovation to the structure, such as interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of capitalized computer software costs as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, at the balance sheet date, of long-lived, depreciable assets commonly used in offices and stores. Examples include desks, chairs, and store fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of long-lived, depreciable assets used in the production process to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, at the balance sheet date, of long-lived physical assets used in the normal conduct of business and not intended for resale. This can include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplementary Balance Sheet Information (Composition Of Goodwill And Intangible Assets) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|---|---|---|---|
| Supplementary Balance Sheet Information | |||
| Goodwill | $ 285,412 | $ 198,439 | |
| Accumulated amortization | (17,354) | (17,354) | |
| Goodwill, net | 268,058 | 181,085 | 167,950 |
| Gross indefinite-lived intangible assets | 105,838 | 105,838 | |
| Accumulated amortization | (24,713) | (24,713) | |
| Indefinite-lived intangible assets, net | 81,125 | 81,125 | |
| Gross amortizable intangible assets | 51,850 | 48,326 | |
| Accumulated amortization | (41,877) | (40,178) | |
| Amortizable intangible assets, net | 9,973 | 8,148 | |
| Total gross intangible assets | 157,688 | 154,164 | |
| Total accumulated amortization | (66,590) | (64,891) | |
| Total intangible assets, net | $ 91,098 | $ 89,273 |
| X | ||||||||||
|
- Definition
Accumulated Amortization Including Goodwill No definition available.
|
| X | ||||||||||
|
- Definition
The cumulative amount of amortization related to goodwill. No definition available.
|
| X | ||||||||||
|
- Definition
Gross Intangible Assets Including Goodwill No definition available.
|
| X | ||||||||||
|
- Definition
Indefinite-Lived Intangible Assets, Accumulated Amortization No definition available.
|
| X | ||||||||||
|
- Definition
Indefinite-Lived Intangible Assets (Excluding Goodwill), Net No definition available.
|
| X | ||||||||||
|
- Definition
Net Intangible Assets Including Goodwill No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The accumulated amount of amortization of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets having statutory or estimated useful lives. The aggregate gross carrying amount (including any previously recognized impairment charges) of a major finite-lived intangible asset class. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, as of the balance sheet date, of the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable), in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of intangible assets, excluding goodwill, which have a projected indefinite period of benefit (hence are not amortized), allocated to the reportable segment. These assets, acquired either individually or as part of a group of assets, in either an asset acquisition or business combination, are assessed at least annually for impairment. Examples may include trade secrets, contractual rights, trade names, and licensing agreements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
|
| Goodwill, beginning balance | $ 181,085 | $ 167,950 |
| Acquisition | 86,973 | 13,135 |
| Goodwill, ending balance | 268,058 | 181,085 |
|
Mountain [Member]
|
||
| Goodwill, beginning balance | 120,615 | 107,722 |
| Acquisition | 86,973 | 12,893 |
| Goodwill, ending balance | 207,588 | 120,615 |
|
Lodging [Member]
|
||
| Goodwill, beginning balance | 60,228 | |
| Acquisition | 242 | |
| Goodwill, ending balance | $ 60,470 | $ 60,470 |
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of goodwill acquired in the period and allocated to the reportable segment. The value is stated at fair value based on the purchase price allocation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
| Supplementary Balance Sheet Information | ||
| Trade payables | $ 55,456 | $ 47,554 |
| Real estate development payables | 3,360 | 31,203 |
| Deferred revenue | 66,044 | 53,298 |
| Deferred real estate and other deposits | 11,741 | 42,891 |
| Accrued salaries, wages and deferred compensation | 26,350 | 21,425 |
| Accrued benefits | 22,107 | 23,547 |
| Accrued interest | 8,511 | 13,939 |
| Other accruals | 27,790 | 21,469 |
| Total accounts payable and accrued liabilities | $ 221,359 | $ 255,326 |
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Real Estate and Other Deposits, Current No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of liabilities incurred for real estate development projects. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
| Supplementary Balance Sheet Information | ||
| Private club deferred initiation fee revenue and deposits | $ 146,065 | $ 148,184 |
| Unfavorable lease obligation, net | 38,729 | |
| Other long-term liabilities | 50,635 | 48,976 |
| Total other long-term liabilities | $ 235,429 | $ 197,160 |
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of prepayments by customers for private club initiation fees and deposits for services to be provided at a later date. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of unfavorable lease obligations. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Investments In Affiliates (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Investments in equity method affiliates | $ 6.7 | $ 6.2 | |
| Undistributed earnings of equity method affiliates | 3.5 | 3.0 | |
| Distributions received from equity method affiliates | $ 1.0 | $ 3.2 | $ 1.7 |
|
Slifer, Smith, and Frampton/Vail Associates Real Estate, LLC ("SSF/VARE") [Member]
|
|||
| Ownership interest | 50.00% | ||
|
KRED [Member]
|
|||
| Ownership interest | 50.00% | ||
|
Clinton Ditch and Reservoir Company [Member]
|
|||
| Ownership interest | 43.00% | ||
| X | ||||||||||
|
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of consolidated retained earnings that represent undistributed (not yet received) earnings from 50% or less owned persons accounted for by the equity method (equity method investees). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Variable Interest Entities (Details) (USD $)
|
12 Months Ended | |||
|---|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2011
Employee Housing Entities [Member]
|
Jul. 31, 2011
Avon Partners II LLC [Member]
|
Jul. 31, 2010
Avon Partners II LLC [Member]
|
|
| Carrying amount of consolidated VIE assets | $ 33,600,000 | $ 4,600,000 | ||
| Carrying amount of consolidated VIE liabilities | 62,700,000 | 0 | ||
| Amount outstanding in letters of credit | 53,400,000 | |||
| Amount of note receivable from reporting entity | 2,000,000 | |||
| Asset impairment charge | $ (2,561,000) | |||
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
The carrying amount of the consolidated Variable Interest Entity's assets included in the reporting entity's statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of the consolidated Variable Interest Entity's liabilities included in the reporting entity's statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of financial or other support the reporting entity has provided (explicitly or implicitly) to the Variable Interest Entity (VIE) that it was not previously contractually required to provide or that the reporting entity intends to provide, including, for example, situations in which the reporting entity assisted the VIE in obtaining another type of support. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value Measurements (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
|
Money Market [Member]
|
||
| Cash equivalents measured at fair value | $ 399 | |
|
Money Market [Member] | Level 1 [Member]
|
||
| Cash equivalents measured at fair value | 399 | |
|
Money Market [Member] | Level 2 [Member]
|
||
| Cash equivalents measured at fair value | ||
|
Money Market [Member] | Level 3 [Member]
|
||
| Cash equivalents measured at fair value | ||
|
US Treasury [Member]
|
||
| Cash equivalents measured at fair value | 8,381 | 8,297 |
|
US Treasury [Member] | Level 1 [Member]
|
||
| Cash equivalents measured at fair value | 8,381 | 8,297 |
|
US Treasury [Member] | Level 2 [Member]
|
||
| Cash equivalents measured at fair value | ||
|
US Treasury [Member] | Level 3 [Member]
|
||
| Cash equivalents measured at fair value | ||
|
Certificates of Deposit [Member]
|
||
| Cash equivalents measured at fair value | 2,490 | 300 |
|
Certificates of Deposit [Member] | Level 1 [Member]
|
||
| Cash equivalents measured at fair value | ||
|
Certificates of Deposit [Member] | Level 2 [Member]
|
||
| Cash equivalents measured at fair value | 2,490 | 300 |
|
Certificates of Deposit [Member] | Level 3 [Member]
|
||
| Cash equivalents measured at fair value |
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Company may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Redeemable Noncontrolling Interest (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended |
|---|---|---|
|
Apr. 30, 2010
|
Jul. 31, 2010
|
|
| Payments made to acquire noncontrolling interest | $ 31,000 | |
| Acquisition of noncontrolling interest | 2,600 | (2,690) |
|
Specialty Sports Venture [Member]
|
||
| Remaining percentage of ownership interest acquired | 30.70% | |
| Payments made to acquire noncontrolling interest | $ 31,000 | |
| Consolidated ownership interest | 100.00% |
| X | ||||||||||
|
- Definition
Acquisition Of Noncontrolling Interest No definition available.
|
| X | ||||||||||
|
- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of Section 382 net operating loss carryforwards recognized, or utilized, each year through calendar year December 31, 2007. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of Section 382 net operating loss carryforwards that the Company is seeking to utilize under amended previously filed tax returns. No definition available.
|
| X | ||||||||||
|
- Definition
Operating Loss Carryforward Acquired No definition available.
|
| X | ||||||||||
|
- Definition
The reduction in federal tax liability the Company has taken relating to net operating loss carryforwards that the Company is seeking to utilize under amended previously filed tax returns. No definition available.
|
| X | ||||||||||
|
- Definition
Reversal amount of other long-term liabilities and accrued interest and penalties No definition available.
|
| X | ||||||||||
|
- Definition
The amount of state and local operating loss carryforwards, before tax effects, available to reduce future taxable income under enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Definition
The fiscal year end which all state operating loss carryforwards will expire by. No definition available.
|
| X | ||||||||||
|
- Definition
The tax refund amount requested by the Company related to amended returns. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the total of accruals as of the date of the statement of financial position for interest recognized for an underpayment of income taxes computed by applying the applicable statutory rate of interest to the difference between a tax position recognized for financial reporting purposes and the amount previously taken or expected to be taken in a tax return of the entity and the amount of statutory penalties for a tax position claimed or expected to be claimed by the entity, in its tax return, that does not meet the minimum statutory threshold to avoid payment of penalties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes (Components Of Deferred Tax Liabilities And Assets) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
| Income Taxes | ||
| Fixed assets | $ 131,024 | $ 109,921 |
| Intangible assets | 34,350 | 31,825 |
| Real estate and other investments | 5,326 | |
| Total | 170,700 | 141,746 |
| Deferred membership revenue | 22,668 | 26,282 |
| Real estate and other investments | 2,124 | 5,041 |
| Deferred compensation and other accrued liabilities | 10,093 | 10,902 |
| Stock-based compensation | 13,436 | 10,366 |
| Unfavorable lease obligation, net | 15,754 | |
| Net operating loss carryforwards other tax credits | 2,187 | 2,041 |
| Other, net | 1,985 | 1,612 |
| Total | 68,247 | 56,244 |
| Valuation allowance for deferred income taxes | (1,588) | (1,588) |
| Deferred income tax assets, net of valuation allowance | 66,659 | 54,656 |
| Net deferred income tax liability | $ 104,041 | $ 87,090 |
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of Real Estate and Other lnvestments and the basis of these assets computed in accordance with generally accepted accounting principles. The basis difference, will result in a future tax deduction or decrease future taxable income when it reverses. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Income Tax Asset Unfavourable Lease Obligation No definition available.
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of Real Estate and Other lnvestments and the basis of these assets computed in accordance with generally accepted accounting principles. The basis difference, will result in an increase in future taxable income when it reverses. No definition available.
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions attributable to income recognized only for tax purposes and which will reverse when recognized under generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amounts of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value). Includes any tax benefit realized in deferred tax assets for significant impacts of tax planning strategies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; net of deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amount of excesses of tax deductions over gross income in a year which cannot be used on the tax returns in the current year but can be carried forward to reduce taxable income or income taxes payable in a future year, for which there must be sufficient tax-basis income to utilize a portion or all of the carryforward amount to realize the deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of estimated future tax deductions arising from other temporary differences not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the tax effects as of the balance sheet date of the amount of the estimated future tax deductions arising from all employee compensation and benefits costs, which can only be deducted for tax purposes when the actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from equity-based compensation costs, which can only be deducted for tax purposes when actual costs are incurred, and which can only be realized if sufficient tax-basis income is generated in future periods to enable the deduction to be taken. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the portions of deferred tax assets as of the balance sheet date for which, based on the weight of available evidence, it is more likely than not will not be realized through future reductions of tax-based income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of all deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A taxable temporary difference is a difference between the tax basis and the carrying amount of an asset or liability in the financial statements prepared in accordance with generally accepted accounting principles that will result in taxable amounts in one or more future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of the estimated future tax effects attributable to the difference between the tax basis of intangible assets and the basis of intangible assets computed in accordance with generally accepted accounting principles. The difference in basis, whether due to amortization or other reasons, will increase future taxable income when such difference reverses. Intangible assets include, but are not limited to, assets such as patents, trademarks and customer lists. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of capital assets and the basis of capital assets computed in accordance with generally accepted accounting principles. The difference in basis, attributable to different capitalization of costs, depreciation, or amortization methodologies, will increase future taxable income when such basis difference is realized. Capital assets include but are not limited to assets such as land, real estate, leasehold improvements, machinery and equipment and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Income Taxes (Net Current And Non-Current Components Of Deferred Income Taxes) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
Jul. 31, 2010
|
|---|---|---|
| Income Taxes | ||
| Net current deferred income tax asset | $ 29,167 | $ 21,406 |
| Net non-current deferred income tax liability | 133,208 | 108,496 |
| Net deferred income tax liability | $ 104,041 | $ 87,090 |
| X | ||||||||||
|
- Definition
For entities that net deferred tax assets and tax liabilities, represents the unclassified net amount of deferred tax assets and liabilities as of the balance sheet date, which result from applying the applicable enacted tax rate to net temporary differences and carryforwards pertaining to assets or liabilities. A temporary difference is a difference between the tax basis of an asset or liability and its carrying amount in the financial statements prepared in accordance with generally accepted accounting principles that will reverse in ensuing periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Income Taxes (Components Of Provision (Benefit) For Income Taxes) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Income Taxes | |||
| Current federal | $ (9,886) | $ 19,661 | $ (242) |
| Current state | (1,210) | 2,788 | 119 |
| Total current | (11,096) | 22,449 | (123) |
| Deferred federal | 28,087 | (3,989) | 27,358 |
| Deferred state | 4,107 | (438) | 3,409 |
| Total deferred | 32,194 | (4,427) | 30,767 |
| Provision for income taxes | $ 21,098 | $ 18,022 | $ 30,644 |
| X | ||||||||||
|
- Definition
The total income tax expense for the period comprised of the increase (decrease) in the entity's deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws. No definition available.
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes (Reconciliation Of Effective Income Tax Rate And Effective Rate From Continuing Operation) (Details)
|
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Income Taxes | |||
| At U.S. Federal income tax rate | 35.00% | 35.00% | 35.00% |
| State income tax, net of Federal benefit | 3.10% | 2.80% | 2.80% |
| Nondeductible meals or entertainment | 0.40% | 0.30% | 0.20% |
| Noncontrolling interest | 0.10% | (3.50%) | (0.70%) |
| General business credits | (1.00%) | (1.10%) | (0.80%) |
| Other | 0.40% | 0.00% | 1.20% |
| Effective income tax rate | 38.00% | 33.50% | 37.70% |
| X | ||||||||||
|
- Definition
A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to noncontrolling interest income or expense that is exempt from income taxes under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to nondeductible meals and entertainment expenses under enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate attributable to all other items not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference between the effective income tax rate and domestic federal statutory income tax rate that can be explained by the state and local income tax expense or benefit, net of the federal tax benefit (expense) thereon, recorded during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the differences between the effective income tax rate and domestic federal statutory income tax rate that can be explained by all tax credits generated or utilized under enacted tax laws during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Income Taxes | |||
| Unrecognized tax benefits, beginning balance | $ 27,048 | $ 27,320 | $ 17,796 |
| Additions based on tax positions related to the current year | |||
| Additions for tax positions of prior years | 9,524 | ||
| Reductions for tax positions of prior years | |||
| Settlements | |||
| Lapse of statue of limitations | (475) | (272) | |
| Unrecognized tax benefits, ending balance | $ 26,573 | $ 27,048 | $ 27,320 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from lapses of the applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Related Party Transactions (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | 1 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
BCRC [Member]
years
|
Jul. 31, 2010
BCRC [Member]
|
Jul. 31, 2009
BCRC [Member]
|
Jul. 31, 2011
SSF/VARE [Member]
|
Jul. 31, 2010
SSF/VARE [Member]
|
Jul. 31, 2009
SSF/VARE [Member]
|
Dec. 31, 2008
Board of Directors Chairman and Chief Executive Officer [Member]
|
|
| Right to appoint the number of directors | 4 | ||||||
| Number of directors | 9 | ||||||
| Management agreement renewable period, years | 1 | ||||||
| Management fees and reimbursement of operating expenses | $ 6.9 | $ 7.0 | $ 8.0 | ||||
| Ownership interest | 50.00% | ||||||
| Real estate commission expense | 3.4 | 3.5 | 9.6 | ||||
| Prepaid real estate commission | 2.4 | ||||||
| Real estate revenue from leases | 0.4 | 0.5 | 0.5 | ||||
| Sale of property | $ 14.0 | ||||||
| X | ||||||||||
|
- Definition
Management Agreement Renewable Period No definition available.
|
| X | ||||||||||
|
- Definition
Number of Directors No definition available.
|
| X | ||||||||||
|
- Definition
Prepaid Real Estate Commission No definition available.
|
| X | ||||||||||
|
- Definition
Real Estate Commission Expense No definition available.
|
| X | ||||||||||
|
- Definition
Purchase price of real estate sold to a related party. No definition available.
|
| X | ||||||||||
|
- Definition
Right to Appoint the Number of Directors No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transactions with related party during the financial reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenues, net of returns and allowances, realized from sales and other transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments And Contingencies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Lease expense, excluding executory costs | $ 30.7 | $ 22.1 | $ 22.4 |
| Contingent rent percentage | 11.50% | ||
| Lease expiration date | 2027 | ||
| Optional renewal term in years | 10 | ||
| Number of optional renewal terms | 3 | ||
|
Holland Creek Metropolitan District [Member]
|
|||
| Credit-enhanced bonds issued amount | 8 | ||
| Amount outstanding in letters of credit | 8.1 | ||
|
Red Sky Ranch Metropolitan District [Member]
|
|||
| Other long-term liabilities | 1.8 | 1.9 | |
| Estimated cessation date of capital improvement fee payment obligation | July 31, 2028 | ||
|
Various Other [Member]
|
|||
| Amount outstanding in letters of credit | 59.7 | ||
|
Employee Housing Bonds [Member]
|
|||
| Amount outstanding in letters of credit | 53.4 | ||
|
Workers' Compensation and General Liability Related to Construction and Development Activities [Member]
|
|||
| Amount outstanding in letters of credit | $ 4.3 | ||
|
Maximum [Member]
|
|||
| Annual base rent rate | 11.00% | ||
|
Minimum [Member]
|
|||
| Annual base rent rate | 10.00% | ||
| X | ||||||||||
|
- Definition
Annual Base Rent Rate No definition available.
|
| X | ||||||||||
|
- Definition
Contingent rent on operating lease over certain gross revenue thresholds. No definition available.
|
| X | ||||||||||
|
- Definition
Debt Instrument, Third Party Credit Enhancements No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Cessation Date Of Capital Improvement Fee Payments No definition available.
|
| X | ||||||||||
|
- Definition
Number of optional renewal terms No definition available.
|
| X | ||||||||||
|
- Definition
Number of optional renewal terms. No definition available.
|
| X | ||||||||||
|
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. No definition available.
|
| X | ||||||||||
|
- Definition
The date upon which a lease or a group of leases is set to expire. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. No definition available.
|
| X | ||||||||||
|
- Definition
Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments And Contingencies (Future Minimum Lease Payment) (Details) (USD $)
In Thousands, unless otherwise specified |
Jul. 31, 2011
|
|---|---|
| Commitments And Contingencies | |
| 2012 | $ 27,627 |
| 2013 | 25,558 |
| 2014 | 24,355 |
| 2015 | 23,625 |
| 2016 | 21,747 |
| Thereafter | 169,518 |
| Total | $ 292,430 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total of future contractually required payments on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within one year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fifth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the fourth year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the third year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due within the second year of the balance sheet date relating to leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For leases having an initial or remaining non-cancelable letter-terms in excess of one year, required rental payments due after the fifth year from the balance sheet date on leases defined as operating. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
|
Apr. 30, 2011
|
Jan. 31, 2011
|
Oct. 31, 2010
|
Jul. 31, 2010
|
Apr. 30, 2010
|
Jan. 31, 2010
|
Oct. 31, 2009
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Total Mountain net revenue | $ 41,717 | $ 351,418 | $ 318,277 | $ 40,779 | $ 36,100 | $ 302,213 | $ 260,978 | $ 39,204 | $ 752,191 | $ 638,495 | $ 614,597 |
| Lodging | 54,388 | 57,477 | 51,676 | 51,117 | 51,322 | 51,880 | 44,802 | 47,297 | 214,658 | 195,301 | 203,606 |
| Resort | 966,849 | 833,796 | 818,203 | ||||||||
| Real estate | 12,568 | 13,221 | 25,147 | 149,261 | 56,768 | 3,164 | 870 | 205 | 200,197 | 61,007 | 186,150 |
| Total net revenue | 108,673 | 422,116 | 395,100 | 241,157 | 144,190 | 357,257 | 306,650 | 86,706 | 1,167,046 | 894,803 | 1,004,353 |
| Mountain | 540,366 | 456,017 | 451,025 | ||||||||
| Lodging | 205,903 | 192,909 | 196,847 | ||||||||
| Resort | 746,269 | 648,926 | 647,872 | ||||||||
| Real estate | 205,232 | 71,402 | 142,070 | ||||||||
| Total segment operating expense | 951,501 | 720,328 | 789,942 | ||||||||
| Gain on sale of real property | 6,087 | ||||||||||
| Mountain equity investment income, net | 1,342 | 1,558 | 817 | ||||||||
| Total Reported EBITDA | 216,887 | 182,120 | 215,228 | ||||||||
| Real estate held for sale and investment | 273,663 | 422,164 | 273,663 | 422,164 | 311,485 | ||||||
| Depreciation and amortization | (117,957) | (110,638) | (107,213) | ||||||||
| Loss on disposal of fixed assets, net | (555) | (615) | (1,064) | ||||||||
| Asset impairment charges | (2,561) | ||||||||||
| Investment income, net | 719 | 445 | 1,793 | ||||||||
| Interest expense, net | (33,641) | (17,515) | (27,548) | ||||||||
| Loss on extinguishment of debt | (7,372) | ||||||||||
| Income before provision for income taxes | 55,520 | 53,797 | 81,196 | ||||||||
| Provision for income taxes (Note 11) | (21,098) | (18,022) | (30,644) | ||||||||
| Net income | (53,935) | 76,840 | 54,577 | (43,060) | (42,184) | 76,391 | 45,079 | (43,511) | 34,422 | 35,775 | 50,552 |
| Net loss (income) attributable to noncontrolling interests | 67 | (5,390) | (1,602) | ||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | (53,906) | 76,867 | 54,551 | (43,023) | (41,921) | 72,789 | 40,690 | (41,173) | 34,489 | 30,385 | 48,950 |
|
Lift Tickets [Member]
|
|||||||||||
| Total Mountain net revenue | 342,514 | 289,289 | 276,542 | ||||||||
|
Ski School [Member]
|
|||||||||||
| Total Mountain net revenue | 83,818 | 70,694 | 65,336 | ||||||||
|
Dining [Member]
|
|||||||||||
| Total Mountain net revenue | 68,052 | 53,322 | 52,259 | ||||||||
|
Retail/Rental [Member]
|
|||||||||||
| Total Mountain net revenue | 174,339 | 154,846 | 147,415 | ||||||||
|
Other Mountain Revenue [Member]
|
|||||||||||
| Total Mountain net revenue | 83,468 | 70,344 | 73,045 | ||||||||
|
Resort [Member]
|
|||||||||||
| Total Reported EBITDA | 221,922 | 186,428 | 171,148 | ||||||||
|
Mountain [Member]
|
|||||||||||
| Total Reported EBITDA | 213,167 | 184,036 | 164,389 | ||||||||
|
Lodging [Member]
|
|||||||||||
| Total Reported EBITDA | 8,755 | 2,392 | 6,759 | ||||||||
|
Real Estate [Member]
|
|||||||||||
| Total Reported EBITDA | $ (5,035) | $ (4,308) | $ 44,080 | ||||||||
| X | ||||||||||
|
- Definition
Earning Before Interest Taxes Depreciation and Amortization for the Segment presented. No definition available.
|
| X | ||||||||||
|
- Definition
The gains and losses included in results of operations resulting from the sale of unimproved land. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income (expense) before, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. No definition available.
|
| X | ||||||||||
|
- Definition
Costs incurred that are directly related to generating lodging revenues, including labor and labor-related benefits and general and administrative expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities. No definition available.
|
| X | ||||||||||
|
- Definition
The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment. No definition available.
|
| X | ||||||||||
|
- Definition
Costs incurred that are directly related to generating mountain revenue, including labor and labor-related benefits, retail cost of sales, resort related fees and general and administrative expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations. No definition available.
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations including costs of sales or services and General and Administrative Expense. No definition available.
|
| X | ||||||||||
|
- Definition
Costs incurred that are directly related to generating real estate revenues, including cost of sales (including sales commissions), labor and labor-related benefits, general and administrative expenses and other expenses. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of mountain and lodging segment operating expenses, net. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of mountain and lodging segment revenue. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gains (losses) included in results of operations resulting from the sale or disposal of property, plant and equipment, which do not qualify for treatment as discontinued operations. This item does not include any gain (loss) recognized on the sale of oil and gas property or timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of (1) improvements, (2) held-for-sale, (3) land and land under development, (4) construction-in-process, (5) mortgage loans held-in-inventory, and (6) other real estate investments which are considered inventory due to being held for sale or disposition. No definition available.
|
| X | ||||||||||
|
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Selected Quarterly Financial Data (Details) (USD $)
|
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
|
Apr. 30, 2011
|
Jan. 31, 2011
|
Oct. 31, 2010
|
Jul. 31, 2010
|
Apr. 30, 2010
|
Jan. 31, 2010
|
Oct. 31, 2009
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Selected Quarterly Financial Data | |||||||||||
| Mountain | $ 41,717,000 | $ 351,418,000 | $ 318,277,000 | $ 40,779,000 | $ 36,100,000 | $ 302,213,000 | $ 260,978,000 | $ 39,204,000 | $ 752,191,000 | $ 638,495,000 | $ 614,597,000 |
| Lodging revenue | 54,388,000 | 57,477,000 | 51,676,000 | 51,117,000 | 51,322,000 | 51,880,000 | 44,802,000 | 47,297,000 | 214,658,000 | 195,301,000 | 203,606,000 |
| Real estate revenue | 12,568,000 | 13,221,000 | 25,147,000 | 149,261,000 | 56,768,000 | 3,164,000 | 870,000 | 205,000 | 200,197,000 | 61,007,000 | 186,150,000 |
| Total net revenue | 108,673,000 | 422,116,000 | 395,100,000 | 241,157,000 | 144,190,000 | 357,257,000 | 306,650,000 | 86,706,000 | 1,167,046,000 | 894,803,000 | 1,004,353,000 |
| Income (loss) from operations | (77,828,000) | 139,495,000 | 97,061,000 | (64,256,000) | (57,841,000) | 118,323,000 | 73,541,000 | (64,714,000) | 94,472,000 | 69,309,000 | 106,134,000 |
| Net income (loss) | (53,935,000) | 76,840,000 | 54,577,000 | (43,060,000) | (42,184,000) | 76,391,000 | 45,079,000 | (43,511,000) | 34,422,000 | 35,775,000 | 50,552,000 |
| Net income (loss) attributable to Vail Resorts, Inc. | (53,906,000) | 76,867,000 | 54,551,000 | (43,023,000) | (41,921,000) | 72,789,000 | 40,690,000 | (41,173,000) | 34,489,000 | 30,385,000 | 48,950,000 |
| Basic net income (loss) per share attributable to Vail Resorts, Inc. | $ (1.49) | $ 2.13 | $ 1.52 | $ (1.20) | $ (1.16) | $ 2.01 | $ 1.12 | $ (1.14) | $ 0.96 | $ 0.84 | $ 1.34 |
| Diluted net income (loss) per share attributable to Vail Resorts, Inc. | $ (1.49) | $ 2.08 | $ 1.48 | $ (1.20) | $ (1.16) | $ 1.98 | $ 1.11 | $ (1.14) | $ 0.94 | $ 0.83 | $ 1.33 |
| Lodging Revenue Net | 54,388,000 | 57,477,000 | 51,676,000 | 51,117,000 | 51,322,000 | 51,880,000 | 44,802,000 | 47,297,000 | 214,658,000 | 195,301,000 | 203,606,000 |
| Quarterly Lodging net revenue before revision of payroll cost reimbursement | $ 49,800,000 | $ 44,700,000 | $ 44,400,000 | $ 44,200,000 | $ 44,900,000 | $ 38,700,000 | $ 41,400,000 | ||||
| X | ||||||||||
|
- Definition
Revenue generated from owned and managed hotels and condominiums, transportation, golf and other activities. No definition available.
|
| X | ||||||||||
|
- Definition
Revenue mainly derived from the sale of lift tickets and season ski passes, ski school, food and beverage, retail/rental and other revenue associated with mountain operations. No definition available.
|
| X | ||||||||||
|
- Definition
Quarterly Lodging net revenue before revision of payroll cost reimbursement. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Repurchase Plan (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Jul. 31, 2010
|
Jul. 31, 2009
|
Jul. 31, 2011
|
Jul. 16, 2008
|
Mar. 09, 2006
|
|
| Stock Repurchase Plan | |||||
| Number of shares authorized to repurchase | 3,000,000 | ||||
| Additional number of shares authorized to repurchase | 3,000,000 | ||||
| Payments for repurchase of common stock | $ 14,999 | $ 22,367 | |||
| Number of shares repurchased since inception | 4,264,804 | 4,264,804 | |||
| Value of stock repurchased since inception | $ 162,827 | $ 162,827 | |||
| Remaining shares available for repurchase under existing program | 1,735,196 | ||||
| X | ||||||||||
|
- Definition
Stock Repurchase Program, Additional Number of Shares Authorized to be Repurchased No definition available.
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of shares authorized to be repurchased by an entity's Board of Directors under a stock repurchase plan. No definition available.
|
| X | ||||||||||
|
- Definition
The remaining number of shares authorized to be repurchased by an entity's Board of Directors under a stock repurchase plan. No definition available.
|
| X | ||||||||||
|
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Compensation Plan (Narrative) (Details) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
Jul. 31, 2011
Stock Appreciation Rights (SARs) [Member]
|
Jul. 31, 2010
Stock Appreciation Rights (SARs) [Member]
|
Jul. 31, 2009
Stock Appreciation Rights (SARs) [Member]
|
Jul. 31, 2011
Restricted Stock Units (RSUs) [Member]
|
Jul. 31, 2010
Restricted Stock Units (RSUs) [Member]
|
Jul. 31, 2009
Restricted Stock Units (RSUs) [Member]
|
Jul. 31, 2011
Scenario, Forecast [Member]
|
Jul. 31, 2012
Expected to be Recognized in 2011 [Member]
Scenario, Forecast [Member]
|
Jul. 31, 2013
Expected to be Recognized in 2012 [Member]
Scenario, Forecast [Member]
|
Jul. 31, 2014
Expected to be Recognized in 2013 [Member]
Scenario, Forecast [Member]
|
Jul. 31, 2011
Maximum [Member]
|
Jul. 31, 2011
Minimum [Member]
|
|
| Shares issued for stock based compensation | 7,500,000 | ||||||||||||||
| Stock based compensation award vesting period maximum | ten | ||||||||||||||
| Stock based compensation award vesting period | three | ||||||||||||||
| Stock based compensation, shares available for grant | 3,000,000 | ||||||||||||||
| Stock based compensation, estimated forfeiture rates | 20.10% | 17.70% | |||||||||||||
| Weighted-average grant-date fair value | $ 13.84 | $ 13.70 | $ 10.34 | $ 37.03 | $ 36.11 | $ 26.83 | |||||||||
| Intrinsic value of options and SARs exercised | $ 2.0 | $ 0.7 | $ 0.3 | ||||||||||||
| Options and SARs that vested during the period | 288,000 | 241,000 | 315,000 | ||||||||||||
| Total fair value of options vested during the period | 0.7 | 0.6 | 1.5 | ||||||||||||
| Stock based compensation, restricted shares granted | 201,000 | 136,000 | 397,000 | ||||||||||||
| Stock based compensation, restricted shares vested | 143,000 | 135,000 | 137,000 | ||||||||||||
| Stock based compensation, total fair value of restricted shares | 5.9 | 4.9 | 3.1 | ||||||||||||
| Total unrecognized compensation expense | 13.1 | 8.0 | 4.4 | 0.7 | |||||||||||
| Cash received from exercise of stock option | 1.1 | 0.5 | 0.6 | ||||||||||||
| Tax benefit from exercise of stock options | $ 2.5 | $ 2.1 | $ 1.6 | ||||||||||||
| X | ||||||||||
|
- Definition
Share Based Compensation Arrangement By Share Based Payment Award, Estimated Forfeiture Rates No definition available.
|
| X | ||||||||||
|
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Options and Stock Appreciation Rights Vested In Period Total Fair Value. No definition available.
|
| X | ||||||||||
|
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate proceeds received by the entity during the annual period from exercises of stock or unit options and conversion of similar instruments granted under equity-based payment arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Disclosure of the aggregate tax benefit realized from the exercise of stock options and the conversion of similar instruments during the annual period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The date when the equity-based award expires as specified in the award agreement, which may be presented in a variety of ways (for example, year, month and year, day, month and year, quarter of a year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Description of the period of time over which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, which may be expressed in a variety of ways (for example, in years, month and year). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total fair value of equity-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net number of share options (or share units) granted during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Compensation Plan (Schedule Of Share Based Compensation Valuation Model) (Details)
|
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Stock Compensation Plan | |||
| Expected volatility | 42.50% | 43.30% | |
| Expected volatility, minimum | 37.10% | ||
| Expected volatility, maximum | 41.00% | ||
| Expected dividends | |||
| Expected term (average in years) | 4.6 | 4.7 | |
| Expected term (average in years), minimum | 5.4 | ||
| Expected term (average in years), maximum | 5.7 | ||
| Risk-free rate, minimum | 0.30% | 0.40% | 2.10% |
| Risk-free rate, maximum | 4.50% | 4.60% | 4.90% |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum period of time an equity-based award is expected to be outstanding. An equity-based award's expected term is generally determined based on, among other factors, the instrument's contractual term and the effects of employees' expected exercise and post-vesting employment termination behavior. No definition available.
|
| X | ||||||||||
|
- Definition
The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The estimated measure of the maximum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. No definition available.
|
| X | ||||||||||
|
- Definition
The estimated measure of the minimum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. No definition available.
|
| X | ||||||||||
|
- Definition
The maximum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
| X | ||||||||||
|
- Definition
The minimum risk-free interest rate assumption that is used in valuing an option on its own shares. No definition available.
|
| X | ||||||||||
|
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices of vested portions of options and stock appreciation rights outstanding and currently exercisable under the option plan as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The number of shares into which fully or partially vested stock options and stock appreciation rights outstanding as of the balance sheet date can be currently converted under the plan. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options and stock appreciation rights outstanding and currently exercisable under the plan. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance sheet date and expiration for all vested portions of options and stock appreciation rights outstanding and currently exercisable (or convertible) under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average price at which option and stock appreciation right holders acquired shares when converting their stock options or stock appreciation rights into shares under the plan during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
For presentations that combine terminations, the number of shares under options and stock appreciation rights that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the plan or that expired. No definition available.
|
| X | ||||||||||
|
- Definition
The combined weighted average exercise price associated with stock options and stock appreciation rights during the period that have either lapsed or been forfeited. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on stock options and stock appreciation rights awarded under the plan during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The total dollar difference between fair values of the underlying shares reserved for issuance and exercise prices pertaining to options and stock appreciation rights outstanding under the plan as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements and stock appreciation rights awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options and stock appreciation rights. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average price as of the beginning of the year at which grantees can acquire the shares reserved for issuance under the plan for options and stock appreciation rights. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average period between the balance sheet date and expiration for all awards of options and stock appreciation rights outstanding under the plan, which may be expressed in a decimal value for number of years. No definition available.
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on stock appreciation rights. No definition available.
|
| X | ||||||||||
|
- Definition
Number of share options and stock appreciation rights exercised during the current period. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Stock Compensation Plan (Schedule of Share Based Compensation SARs Activity) (Details) (Stock Appreciation Rights (SARs) [Member], USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Jul. 31, 2011
|
|
|
Stock Appreciation Rights (SARs) [Member]
|
|
| Awards, outstanding beginning balance | 1,228 |
| Awards, granted | 371 |
| Awards, vested | (288) |
| Awards, forfeited | (11) |
| Awards, outstanding ending balance | 1,300 |
| Weighted-average grant-date fair value, outstanding beginning balance | $ 7.37 |
| Weighted-average grant-date fair value, granted | $ 13.84 |
| Weighted-average grant-date fair value, vested | $ 14.98 |
| Weighted-average grant-date fair value, forfeited | $ 10.95 |
| Weighted-average grant-date fair value, outstanding ending balance | $ 11.17 |
| X | ||||||||||
|
- Definition
The number of stock appreciation rights, that were forfeited during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of the grant date of stock appreciation rights that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan. No definition available.
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on stock appreciation rights. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested stock appreciation rights issued during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The number of non-vested stock appreciation rights, that validly exist and are outstanding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested stock appreciation rights for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to the underlying shares or units. No definition available.
|
| X | ||||||||||
|
- Definition
The number of stock appreciation rights, that vested during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant date pertaining to stock appreciation rights for which the grantee gained the right during the reporting period, by satisfying service requirements, to retain shares or units, in accordance with the terms of the arrangement. No definition available.
|
|
Stock Compensation Plan (Schedule Of Share Based Compensation Restricted Stock Units Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Jul. 31, 2011
|
|
|
Restricted Stock Units (RSUs) [Member]
|
|
| Awards, outstanding beginning balance | 371 |
| Awards, granted | 201 |
| Awards, vested | (143) |
| Awards, forfeited | (21) |
| Awards, outstanding ending balance | 408 |
| Weighted-average grant-date fair value, outstanding beginning balance | $ 30.07 |
| Weighted-average grant-date fair value, granted | $ 37.03 |
| Weighted-average grant-date fair value, vested | $ 41.22 |
| Weighted-average grant-date fair value, forfeited | $ 27.86 |
| Weighted-average grant-date fair value, outstanding ending balance | $ 33.47 |
| X | ||||||||||
|
- Definition
The number of restricted stock units vested during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The number of restricted share units, that were forfeited during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of the grant date of restricted share units that were not exercised or put into effect during the reporting period as a result of the occurrence of a terminating event specified in the contractual agreement of the plan. No definition available.
|
| X | ||||||||||
|
- Definition
Net number of restricted share units granted during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The number of non-vested restricted share units, that validly exist and are outstanding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested restricted share units for which the employer is contingently obligated to issue equity instruments to an employee who has not yet satisfied service criteria necessary to gain title to underlying shares or units. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant date pertaining to restricted share units for which the grantee gained the right during the reporting period, by satisfying service requirements, to receive shares or units in accordance with the terms of the arrangement. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested restricted share units issued during the period. No definition available.
|
|
Retirement And Profit Sharing Plans (Details) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Retirement And Profit Sharing Plans | |||
| Employee contribution percentage | 100.00% | ||
| Employer contribution matching equal to 50% | 6.00% | ||
| Employment period (in months) | 12 | ||
| Service period (in hours) | 1,000 | ||
| Total service period (in hours) | 1,500 | ||
| Retirement plan expense | $ 1.5 | $ 0.4 | $ 1.3 |
| X | ||||||||||
|
- Definition
Defined Contribution Plan, Maximum Employee Contribution Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Defined Contribution Plan, Maximum Employer Contribution Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Requisite Employment Period in Months to be eligible for the Company's matching contributions if 1,000 service hours are worked. No definition available.
|
| X | ||||||||||
|
- Definition
Requisite Employment Period in Hours within a consecutive 12 month period to be eligible for the Company's matching contributions. No definition available.
|
| X | ||||||||||
|
- Definition
Requisite Employment Period in Hours to be eligible for the Company's matching contributions. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of liabilities incurred (of which invoices have been received and for which invoice have not yet been received or will not be rendered). Includes deferred revenue, accrued interest expense, deposits, accrued salaries, wages and benefits and other accrued liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Advances to from parent No definition available.
|
| X | ||||||||||
|
- Definition
Investments in subsidiaries No definition available.
|
| X | ||||||||||
|
- Definition
Other Assets Current And Deferred Income Taxes. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of noncurrent obligations which are expected to be settled after one year (or the normal operating cycle, if longer). Includes deferred revenue, unfavorable lease obligations and other long-term accrued liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of (1) improvements, (2) held-for-sale, (3) land and land under development, (4) construction-in-process, (5) mortgage loans held-in-inventory, and (6) other real estate investments which are considered inventory due to being held for sale or disposition. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year or the normal operating cycle, if longer plus capital lease obligations due to be paid more than one year after the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Obligation related to long-term debt (excluding convertible debt) and capital leases, the portion which is due in one year or less in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Supplemental Condensed Consolidating Statement Of Operations) (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
|
Apr. 30, 2011
|
Jan. 31, 2011
|
Oct. 31, 2010
|
Jul. 31, 2010
|
Apr. 30, 2010
|
Jan. 31, 2010
|
Oct. 31, 2009
|
Jul. 31, 2011
|
Jul. 31, 2010
|
Jul. 31, 2009
|
|
| Total net revenue | $ 108,673 | $ 422,116 | $ 395,100 | $ 241,157 | $ 144,190 | $ 357,257 | $ 306,650 | $ 86,706 | $ 1,167,046 | $ 894,803 | $ 1,004,353 |
| Total operating expense | 1,072,574 | 825,494 | 898,219 | ||||||||
| Income from operations | (77,828) | 139,495 | 97,061 | (64,256) | (57,841) | 118,323 | 73,541 | (64,714) | 94,472 | 69,309 | 106,134 |
| Other (expense) income, net | (40,294) | (17,070) | (25,755) | ||||||||
| Equity investment income, net | 1,342 | 1,558 | 817 | ||||||||
| Income before provision for income taxes | 55,520 | 53,797 | 81,196 | ||||||||
| Provision for income taxes (Note 11) | (21,098) | (18,022) | (30,644) | ||||||||
| Net (loss) income before equity in income (loss) of consolidated subsidiaries | 34,422 | 35,775 | 50,552 | ||||||||
| Net income | (53,935) | 76,840 | 54,577 | (43,060) | (42,184) | 76,391 | 45,079 | (43,511) | 34,422 | 35,775 | 50,552 |
| Net loss (income) attributable to noncontrolling interests | 67 | (5,390) | (1,602) | ||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | (53,906) | 76,867 | 54,551 | (43,023) | (41,921) | 72,789 | 40,690 | (41,173) | 34,489 | 30,385 | 48,950 |
|
Parent Company [Member]
|
|||||||||||
| Total operating expense | 522 | 792 | 498 | ||||||||
| Income from operations | (522) | (792) | (498) | ||||||||
| Other (expense) income, net | (34,244) | (27,034) | (27,035) | ||||||||
| Income before provision for income taxes | (34,766) | (27,826) | (27,533) | ||||||||
| Provision for income taxes (Note 11) | 14,235 | 9,457 | 10,600 | ||||||||
| Net (loss) income before equity in income (loss) of consolidated subsidiaries | (20,531) | (18,369) | (16,933) | ||||||||
| Equity in income (loss) of consolidated subsidiaries | 55,020 | 48,754 | 65,883 | ||||||||
| Net income | 34,489 | 30,385 | 48,950 | ||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | 34,489 | 30,385 | 48,950 | ||||||||
|
100% Owned Guarantor Subsidiaries [Member]
|
|||||||||||
| Total net revenue | 1,166,706 | 894,409 | 1,003,079 | ||||||||
| Total operating expense | 1,070,054 | 821,318 | 895,941 | ||||||||
| Income from operations | 96,652 | 73,091 | 107,138 | ||||||||
| Other (expense) income, net | (4,908) | 10,885 | 3,663 | ||||||||
| Equity investment income, net | 1,342 | 1,558 | 817 | ||||||||
| Income before provision for income taxes | 93,086 | 85,534 | 111,618 | ||||||||
| Provision for income taxes (Note 11) | (35,333) | (27,479) | (41,244) | ||||||||
| Net (loss) income before equity in income (loss) of consolidated subsidiaries | 57,753 | 58,055 | 70,374 | ||||||||
| Equity in income (loss) of consolidated subsidiaries | (2,733) | (3,580) | (3,364) | ||||||||
| Net income | 55,020 | 54,475 | 67,010 | ||||||||
| Net loss (income) attributable to noncontrolling interests | (5,721) | (1,127) | |||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | 55,020 | 48,754 | 65,883 | ||||||||
|
Other Subsidiaries [Member]
|
|||||||||||
| Total net revenue | 12,212 | 11,041 | 10,602 | ||||||||
| Total operating expense | 13,718 | 13,879 | 10,956 | ||||||||
| Income from operations | (1,506) | (2,838) | (354) | ||||||||
| Other (expense) income, net | (1,294) | (1,073) | (2,535) | ||||||||
| Income before provision for income taxes | (2,800) | (3,911) | (2,889) | ||||||||
| Net (loss) income before equity in income (loss) of consolidated subsidiaries | (2,800) | (3,911) | (2,889) | ||||||||
| Net income | (2,800) | (3,911) | (2,889) | ||||||||
| Net loss (income) attributable to noncontrolling interests | 67 | 331 | (475) | ||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | (2,733) | (3,580) | (3,364) | ||||||||
|
Eliminating Entries [Member]
|
|||||||||||
| Total net revenue | (11,872) | (10,647) | (9,328) | ||||||||
| Total operating expense | (11,720) | (10,495) | (9,176) | ||||||||
| Income from operations | (152) | (152) | (152) | ||||||||
| Other (expense) income, net | 152 | 152 | 152 | ||||||||
| Equity in income (loss) of consolidated subsidiaries | (52,287) | (45,174) | (62,519) | ||||||||
| Net income | (52,287) | (45,174) | (62,519) | ||||||||
| Net income (loss) attributable to Vail Resorts, Inc. | $ (52,287) | $ (45,174) | $ (62,519) | ||||||||
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income (expense) before, income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest. No definition available.
|
| X | ||||||||||
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- Definition
The Company's share of income (loss) from the operations of unconsolidated subsidiaries associated with the mountain segment. No definition available.
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The portion of net Income or Loss attributable to the noncontrolling interest (if any) deducted in order to derive the portion attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cash received from sale of unimproved land. No definition available.
|
| X | ||||||||||
|
- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the purchase of noncontrolling interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the collection of money previously advanced to an entity that is related to it but not strictly controlled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from borrowings to finance the cost of construction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from other long-term borrowings not otherwise defined in the taxonomy (with maturities initially due beyond one year or the normal operating cycle of the entity, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from repayment of borrowings to finance the cost of construction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow from the repayment of long-term borrowing where a lender is placed in a lien position behind debt having a higher priority of repayment (senior) in case of liquidation of the entity's assets or underlying collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Valuation And Qualifying Accounts And Reserves (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 31, 2011
Inventory Reserves [Member]
|
Jul. 31, 2010
Inventory Reserves [Member]
|
Jul. 31, 2009
Inventory Reserves [Member]
|
Jul. 31, 2011
Valuation Allowance On Income Taxes [Member]
|
Jul. 31, 2010
Valuation Allowance On Income Taxes [Member]
|
Jul. 31, 2009
Valuation Allowance On Income Taxes [Member]
|
Jul. 31, 2008
Valuation Allowance On Income Taxes [Member]
|
Jul. 31, 2011
Trade Receivable Allowances [Member]
|
Jul. 31, 2010
Trade Receivable Allowances [Member]
|
Jul. 31, 2009
Trade Receivable Allowances [Member]
|
|
| Balance at Beginning of Period | $ 1,452 | $ 1,455 | $ 1,211 | $ 1,588 | $ 1,588 | $ 1,588 | $ 1,588 | $ 2,259 | $ 1,877 | $ 1,666 |
| Charged to Costs and Expenses | 2,389 | 2,310 | 2,496 | 2,246 | 1,328 | 2,109 | ||||
| Deductions | (2,289) | (2,313) | (2,252) | (1,082) | (946) | (1,898) | ||||
| Balance at End of Period | $ 1,552 | $ 1,452 | $ 1,455 | $ 1,588 | $ 1,588 | $ 1,588 | $ 1,588 | $ 3,423 | $ 2,259 | $ 1,877 |
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, charged to costs and expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|