Document And Entity Information	9 Months Ended
Document And Entity Information	Apr. 30, 2015	Jun. 03, 2015
Document And Entity Information [Abstract]
Entity Voluntary Filers	No
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
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 Common Stock, Shares Outstanding		36,361,683
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes

Consolidated Condensed Balance Sheets (USD $) In Thousands, unless otherwise specified	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Assets
Cash and cash equivalents	$ 125,214	$ 44,406	$ 307,431
Restricted cash	13,139	13,181	13,057
Trade receivables, net	105,617	95,977	79,815
Inventories, net	62,167	67,183	60,409
Other current assets	64,054	54,299	58,696
Total current assets	370,191	275,046	519,408
Property, plant and equipment, net (Note 6)	1,259,093	1,147,990	1,164,387
Real estate held for sale and investment	137,740	157,858	170,818
Goodwill, net	470,286	378,148	378,220
Intangible assets, net	141,127	117,523	118,507
Other assets	41,068	97,284	97,104
Total assets	2,419,505	2,173,849	2,448,444
Liabilities and Stockholders' Equity
Accounts payable and accrued liabilities (Note 6)	293,056	289,218	264,777
Income taxes payable	36,161	33,966	39,043
Long-term debt due within one year (Note 4)	256,953	1,022	879
Total current liabilities	586,170	324,206	304,699
Long-term debt (Note 4)	379,796	625,600	799,223
Other long-term liabilities (Note 6)	235,932	260,681	239,934
Deferred income taxes	240,133	128,562	183,473
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock, $0.01 par value, 25,000,000 shares authorized, no shares issued and outstanding	0	0	0
Common stock, $0.01 par value, 100,000,000 shares authorized, 40,855,859 (unaudited), 40,531,204 and 40,477,796 (unaudited) shares issued, respectively	413	412	411
Additional paid-in capital	623,274	612,322	608,153
Accumulated other comprehensive income (loss)	(623)	(199)	(101)
Retained earnings	533,618	401,500	491,878
Treasury stock, at cost; 4,949,111 (unaudited), 4,949,111 and 4,468,181 (unaudited) shares, respectively (Note 11)	(193,192)	(193,192)	(193,192)
Total Vail Resorts, Inc. stockholders' equity	963,490	820,843	907,149
Noncontrolling interests	13,984	13,957	13,966
Total stockholders' equity (Note 2)	977,474	834,800	921,115
Total liabilities and stockholders' equity	$ 2,419,505	$ 2,173,849	$ 2,448,444

Consolidated Condensed Balance Sheets (Parenthetical) (USD $)	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, shares issued	41,309,969	41,152,800	41,129,041
Treasury stock, shares	4,949,111	4,949,111	4,949,111

Consolidated Condensed Statements Of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Net revenue:
Mountain	$ 499,551	$ 460,587	$ 1,022,968	$ 909,574
Lodging	67,323	66,293	185,180	179,694
Real Estate	12,469	16,167	29,694	29,890
Total net revenue	579,343	543,047	1,237,842	1,119,158
Segment operating expense (exclusive of depreciation and amortization shown separately below):
Mountain	244,675	233,301	645,593	601,587
Lodging	54,726	53,182	166,407	163,346
Real Estate	14,028	18,445	35,513	35,682
Total segment operating expense	313,429	304,928	847,513	800,615
Other operating expense:
Depreciation and amortization	(38,242)	(35,588)	(111,587)	(105,948)
Gain on sale of real property	151	0	151	0
Gain (Loss) Related to Litigation Settlement	0	0	16,400	0
Change in Fair Value of Contingent Consideration	0	0	4,550	0
Loss on disposal of fixed assets, net	(71)	634	(852)	(839)
Income (loss) from operations	227,752	203,165	298,991	211,756
Mountain equity investment income, net	(129)	665	396	1,282
Investment income, net	119	124	155	289
Interest expense, net	(13,735)	(16,408)	(41,110)	(48,745)
Income (loss) before (provision) benefit from income taxes	214,007	187,546	258,432	164,582
(Provision) benefit from income taxes	(80,605)	(69,680)	(73,654)	(60,953)
Net income (loss)	133,402	117,866	184,778	103,629
Net loss (income) attributable to noncontrolling interests	8	80	118	204
Net income (loss) attributable to Vail Resorts, Inc.	$ 133,410	$ 117,946	$ 184,896	$ 103,833
Per share amounts (Note 3):
Basic net income (loss) per share attributable to Vail Resorts, Inc.	$ 3.67	$ 3.26	$ 5.09	$ 2.88
Diluted net income (loss) per share attributable to Vail Resorts, Inc.	$ 3.56	$ 3.18	$ 4.95	$ 2.80
Cash dividends declared per share	$ 0.6225	$ 0.4150	$ 1.4525	$ 0.8300

Consolidated Condensed Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Net income (loss)	$ 133,402	$ 117,866	$ 184,778	$ 103,629
Foreign currency translation adjustments	23	85	(424)	(34)
Comprehensive income (loss)	133,425	117,951	184,354	103,595
Comprehensive loss (income) attributable to noncontrolling interests	8	80	118	204
Comprehensive income (loss) attributable to Vail Resorts, Inc.	133,433	118,031	184,472	103,799
Parent Company [Member]
Net income (loss)	133,410	117,946	184,896	103,833
Foreign currency translation adjustments	23	85	(424)	(34)
Comprehensive income (loss)	133,433	118,031	184,472	103,799
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Vail Resorts, Inc.	133,433	118,031	184,472	103,799
100% Owned Guarantor Subsidiaries [Member]
Net income (loss)	135,810	122,088	168,361	116,111
Foreign currency translation adjustments	(23)	85	424	(34)
Comprehensive income (loss)	135,787	122,173	168,785	116,077
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Vail Resorts, Inc.	135,787	122,173	168,785	116,077
Other Subsidiaries [Member]
Net income (loss)	229	(112)	(1,582)	(2,284)
Foreign currency translation adjustments	(23)	85	424	(34)
Comprehensive income (loss)	206	(27)	(1,158)	(2,318)
Comprehensive loss (income) attributable to noncontrolling interests	8	80	118	204
Comprehensive income (loss) attributable to Vail Resorts, Inc.	214	53	(1,040)	(2,114)
Eliminating Entries [Member]
Net income (loss)	(136,047)	(122,056)	(166,897)	(114,031)
Foreign currency translation adjustments	46	(170)	(848)	68
Comprehensive income (loss)	(136,001)	(122,226)	(167,745)	(113,963)
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Vail Resorts, Inc.	$ (136,001)	$ (122,226)	$ (167,745)	$ (113,963)

Consolidated Condensed Statements Of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Capital Expenditures Incurred but Not yet Paid	$ 4,257	$ 3,130
Non-cash capital expenditures under long-term financing	7,037	0
Cash flows from operating activities:
Net income (loss)	184,778	103,629
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	111,587	105,948
Cost of real estate sales	23,058	22,635
Stock-based compensation expense	11,718	10,539
Deferred income taxes, net	114,795	60,953
Change in Fair Value of Contingent Consideration	(4,550)	0
Gain (Loss) Related to Litigation Settlement	(16,400)	0
Park City litigation payment to Talisker	(10,000)	0
Other non-cash income, net	(3,009)	(2,423)
Changes in assets and liabilities:
Trade receivables, net	(7,761)	(822)
Inventories, net	5,380	8,089
Accounts payable and accrued liabilities	(203)	326
Other assets and liabilities, net	(14,917)	(2,677)
Net cash provided by operating activities	394,476	306,197
Cash flows from investing activities:
Capital expenditures	(85,583)	(108,100)
Acquisition of businesses	(182,500)	0
Other investing activities, net	3,274	920
Net cash used in investing activities	(264,809)	(107,180)
Proceeds from Issuance of Other Long-term Debt	253,000	0
Repayments of Long-term Debt	(254,013)	(977)
Cash flows from financing activities:
Dividends paid	(52,778)	(29,998)
Other financing activities, net	5,041	732
Net cash used in financing activities	(48,750)	(30,243)
Effect of exchange rate changes on cash and cash equivalents	(109)	53
Net decrease in cash and cash equivalents	80,808	168,827
Cash and cash equivalents:
Beginning of period	44,406	138,604
End of period	$ 125,214	$ 307,431

Organization and Business	9 Months Ended
Organization and Business	Apr. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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”) operate in three business segments: Mountain, Lodging and Real Estate. In the Mountain segment, the Company operates nine world-class mountain resort properties at the Vail, Breckenridge, Keystone and Beaver Creek mountain resorts in Colorado; Canyons and Park City Mountain Resort ("Park City" acquired on September 11, 2014) in Utah; the Heavenly, Northstar, and Kirkwood mountain resorts in the Lake Tahoe area of California and Nevada; and the ski areas of Afton Alps in Minnesota and Mount Brighton in Michigan ("Urban" ski areas); as well as ancillary services, primarily including ski school, dining and retail/rental operations. These resorts (except for Northstar, Canyons, Park City and the Urban ski areas) 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 and condominiums under its RockResorts brand, as well as other strategic lodging properties and a large number of condominiums located in proximity to the Company’s mountain resorts, National Park Service (“NPS”) concessionaire properties including the Grand Teton Lodge Company (“GTLC”), which operates destination resorts in the Grand Teton National Park, Colorado Mountain Express (“CME”), a Colorado resort ground transportation company, and mountain resort 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 mountain resorts are seasonal in nature with peak operating seasons primarily from mid-November through mid-April. The Company’s operations at its NPS concessionaire properties 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 7, Variable Interest Entities).

Summary of Significant Accounting Policies

9 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

Consolidated Condensed Financial Statements— In the opinion of the Company, the accompanying Consolidated Condensed Financial Statements reflect all adjustments necessary to state fairly the Company’s financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal recurring nature. Results for interim periods are not indicative of the results for the entire fiscal year. The accompanying Consolidated Condensed Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2014. Certain information and footnote disclosures, including significant accounting policies, normally included in fiscal year financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. The Consolidated Condensed Balance Sheet as of July 31, 2014 was derived from audited financial statements.

Use of Estimates— The preparation of financial statements in conformity with 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.

Noncontrolling Interests in Consolidated Condensed Financial Statements— Net loss attributable to noncontrolling interests along with net income attributable to the stockholders of the Company are reported separately in the Consolidated Condensed Statement of Operations. Additionally, noncontrolling interests in the consolidated subsidiaries of the Company are reported as a separate component of equity in the Consolidated Condensed Balance Sheet, apart from the Company’s equity. The following table summarizes the changes in total stockholders’ equity (in thousands):



	For the Nine Months Ended April 30,
	2015									2014
	Vail Resorts Stockholders’ Equity			Noncontrolling Interests			Total Stockholders' Equity			Vail Resorts Stockholders’ Equity			Noncontrolling Interests			Total Stockholders' Equity
Balance, beginning of period	$	820,843		$	13,957		$	834,800		$	823,868		$	14,001		$	837,869
Net income (loss)	184,896			(118		)	184,778			103,833			(204		)	103,629
Stock-based compensation expense	11,718			—			11,718			10,539			—			10,539
Issuance of shares under share award plans, net of shares withheld for taxes	(4,629		)	—			(4,629		)	(4,797		)	—			(4,797		)
Tax benefit from share award plans	3,864			—			3,864			3,738			—			3,738
Cash dividends paid on common stock	(52,778		)	—			(52,778		)	(29,998		)	—			(29,998		)
Contributions from noncontrolling interests, net	—			145			145			—			169			169
Foreign currency translation adjustments, net of tax	(424		)	—			(424		)	(34		)	—			(34		)
Balance, end of period	$	963,490		$	13,984		$	977,474		$	907,149		$	13,966		$	921,115

Fair Value Instruments— The recorded amounts for cash and cash equivalents, trade 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 (Note 4, Long-Term Debt) approximate book value due to the variable nature of the interest rate associated with that debt. The fair values of the 6.50% Senior Subordinated Notes due 2019 (“6.50% Notes”) and the Company’s Industrial Development Bonds are based on their redemption prices as of April 30, 2015; determined by their outstanding aggregate principal amounts as of April 30, 2015, plus redemption premiums to be paid on the redemption date of May 1, 2015 (refer to Note 4, Long-Term Debt for further discussion). The fair value of other long-term debt has been estimated using discounted cash flow analyses based on current borrowing rates for debt with similar remaining maturities and ratings (a Level 3 input). The estimated fair values of the 6.50% Notes, Industrial Development Bonds and other long-term debt as of April 30, 2015 are presented below (in thousands):



	April 30, 2015
	Carrying Value		Fair Value
6.50% Notes	$	215,000	$	221,988
Industrial Development Bonds	$	41,200	$	42,848
Other long-term debt	$	11,875	$	12,521

New Accounting Standards— In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606)”, which supersedes the revenue recognition requirements in Accounting Standards Codification (“ASC”) 605, “Revenue Recognition”. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. This standard will be effective for the first interim period within fiscal years beginning after December 15, 2016 (the Company's 2018 first fiscal quarter), using one of two retrospective application methods. On April 1, 2015, the FASB voted to defer the effective date of the new revenue standard by one year, which is subject to a period for public comments, and would allow entities the option to early adopt the new revenue standard as of the original effective date. The Company is evaluating the impacts, if any, the adoption of this accounting standard will have on the Company's financial position or results of operations.

In February 2015, the FASB issued ASU No. 2015-02, "Consolidation (Topic 810): Amendments to the Consolidation Analysis", which amends the consolidation requirements in ASC 810, "Consolidation". This ASU affects reporting entities that are required to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities ("VIEs") or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidated analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and (iv) provide a scope exception for certain entities. The standard will be effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company's 2017 first fiscal quarter). The standard may be applied retrospectively or through a cumulative effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The Company is evaluating the impacts, if any, the adoption of this accounting standard will have on the Company's financial position or results of operations.

In April 2015, the FASB issued ASU No. 2015-03, "Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs." The new standard requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The guidance in the new standard is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs. The standard will be effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company’s 2017 first fiscal quarter) and early adoption is permitted for financial statements that have not been previously issued. The standard should be applied on a retrospective basis. The adoption of this new accounting standard will amend presentation and disclosure requirements concerning debt issuance costs, and as such the adoption will not affect the Company’s financial position or results of operations.

In April 2015, the FASB issued ASU No. 2015-05, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement." The standard provides guidance about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for as an acquisition of a software license. If a cloud computing arrangement does not include a software license, it should be accounted for as a service contract. The standard will be effective for the first interim period within fiscal years beginning after December 15, 2015 (the Company’s 2017 first fiscal quarter) and may be adopted either retrospectively or prospectively. The Company is evaluating the impacts, if any, the adoption of this accounting standard will have on the Company's financial position or results of operations.

Net Income Per Common Share

9 Months Ended

Apr. 30, 2015

Earnings Per Share Reconciliation [Abstract]

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 during the period. 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 participate in the earnings of Vail Resorts. Presented below is basic and diluted EPS for the three months ended April 30, 2015 and 2014 (in thousands, except per share amounts):



	Three Months Ended April 30,
	2015				2014
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	133,410	$	133,410	$	117,946	$	117,946
Weighted-average shares outstanding	36,354		36,354		36,159		36,159
Effect of dilutive securities	—		1,099		—		895
Total shares	36,354		37,453		36,159		37,054
Net income per share attributable to Vail Resorts	$	3.67	$	3.56	$	3.26	$	3.18

The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled 15,000 and 4,000 for the three months ended April 30, 2015 and 2014, respectively.

Presented below is basic and diluted EPS for the nine months ended April 30, 2015 and 2014 (in thousands, except per share amounts):



	Nine Months Ended April 30,
	2015				2014
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	184,896	$	184,896	$	103,833	$	103,833
Weighted-average shares outstanding	36,310		36,310		36,105		36,105
Effect of dilutive securities	—		1,052		—		920
Total shares	36,310		37,362		36,105		37,025
Net income per share attributable to Vail Resorts	$	5.09	$	4.95	$	2.88	$	2.80

The Company computes the effect of dilutive securities using the treasury stock method and average market prices during the period. The number of shares issuable on the exercise of share based awards excluded from the calculation of diluted net income per share because the effect of their inclusion would have been anti-dilutive totaled 5,000 and 11,000 for the nine months ended April 30, 2015 and 2014, respectively.

During the three and nine months ended April 30, 2015, the Company paid dividends of $0.6225 and $1.4525 per share, respectively ($22.6 million and $52.8 million, respectively, in the aggregate). During the three and nine months ended April 30, 2014, the Company paid dividends of $0.4150 and $0.8300 per share, respectively ($15.0 million and $30.0 million, respectively, in the aggregate). On June 5, 2015 the Company’s Board of Directors declared a quarterly cash dividend of $0.6225 per share payable on July 10, 2015 to stockholders of record as of June 25, 2015.

Long-Term Debt

9 Months Ended

Apr. 30, 2015

Debt Disclosure [Abstract]

Long-Term Debt

ong-Term Debt

Long-term debt as of April 30, 2015, July 31, 2014 and April 30, 2014 is summarized as follows (in thousands):



	Maturity (a)	April 30, 2015		July 31, 2014		April 30, 2014
Credit Facility Revolver (b)	2019	$	—	$	—	$	—
Industrial Development Bonds (c)	2020	41,200		41,200		41,200
Employee Housing Bonds	2027-2039	52,575		52,575		52,575
6.50% Notes (c)	2019	215,000		215,000		390,000
Canyons obligation	2063	316,056		311,858		310,472
Other	2015-2029	11,918		5,989		5,855
Total debt		636,749		626,622		800,102
Less: Current maturities (d)		256,953		1,022		879
Long-term debt		$	379,796	$	625,600	$	799,223


(a)	Maturities are based on the Company’s July 31 fiscal year end.

(b)

On May 1, 2015, Vail Holdings, Inc. (“VHI”), a wholly-owned subsidiary of the Company, amended and restated its senior credit facility, the Sixth Amended and Restated Credit Agreement (the “Prior Credit Agreement”). The amended credit facility is now referred to as the Seventh Amended and Restated Credit Agreement (the “Credit Agreement”) with VHI, as borrower, the Company and certain subsidiaries of the Company, as guarantors, Bank of America, N.A., as administrative agent, and the other Lenders party thereto. The Credit Agreement provides for a term loan facility in an aggregate principal amount of $250.0 million. The term loan facility is subject to quarterly amortization of principal, commencing on January 31, 2016, in equal installments, with five percent payable in each year and the final payment of all amounts outstanding, plus accrued and unpaid interest due on May 1, 2020.

Pursuant to the terms of the Credit Agreement, VHI has the ability to increase availability (under the revolver or in the form of term loans) to an aggregate principal amount not to exceed the greater of (i) $950.0 million and (ii) the product of 2.75 and the trailing twelve-month Adjusted EBITDA, as defined in the Credit Agreement. The material terms of the Credit Agreement are substantially similar to those of the Prior Credit Agreement described in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2014. Key modifications to the Prior Credit Agreement included, among other things, the extension of the maturity on the revolving credit facility from March 2019 to May 2020 and increases in certain baskets for and improved flexibility to incur debt and make distributions. VHI’s obligations under the Credit Agreement are guaranteed by the Company and certain of its subsidiaries and are collateralized by a pledge of all the capital stock of VHI and substantially all of its subsidiaries (with certain additional exceptions for the pledge of the capital stock of foreign subsidiaries). The proceeds of the loans made under the Credit Agreement may be used, in addition to the redemption of the 6.50% Notes and Industrial Development Bonds, to fund the Company’s working capital needs, capital expenditures, acquisitions, investments and other general corporate purposes, including the issuance of letters of credit. Borrowings under the Credit Agreement, including the term loan facility, bear interest annually at a rate of (i) LIBOR plus a margin or (ii) the Agent’s prime lending rate plus a margin. Interest rate margins may fluctuate based upon the ratio of the Company’s Net Funded Debt to Adjusted EBITDA on a trailing four-quarter basis.

(c)

On March 13, 2015, the Company submitted redemption notices to the trustees to redeem the outstanding $215.0 million aggregate principal amount of the 6.50% Notes and the $41.2 million aggregate principal amount of Industrial Development Bonds. As a result, the Company classified the aggregate principal amounts outstanding as long-term debt due within one year. On May 1, 2015, the Company redeemed the outstanding aggregate principal amounts of its 6.50% Notes and Industrial Development Bonds which was funded by the $250.0 million term loan facility and cash on hand. The redemption premium for the 6.50% Notes was 103.250%, plus accrued and unpaid interest to the redemption date of May 1, 2015. The redemption premium for the Industrial Development Bonds was 104.000%, plus accrued and unpaid interest to the redemption date of May 1, 2015. As a result, the Company incurred an early redemption premium of $8.6 million, which will be recorded, along with a write-off of $2.4 million of unamortized debt issuance costs, as a loss on extinguishment of debt in the fourth quarter of the fiscal year ending July 31, 2015. Upon completion of the redemptions, no amounts of the 6.50% Notes or Industrial Development Bonds remained outstanding.


(d)	Current maturities represent principal payments due in the next 12 months.

Aggregate maturities for debt outstanding as of April 30, 2015 reflected by fiscal year are as follows (in thousands):



	Total
2015	$	256,319
2016	779
2017	854
2018	897
2019	955
Thereafter	376,945
Total debt	$	636,749

The Company incurred gross interest expense of $13.7 million and $16.4 million for the three months ended April 30, 2015 and 2014, respectively, of which $0.4 million and $0.5 million, respectively, were amortization of deferred financing costs. The Company incurred gross interest expense of $41.1 million and $48.7 million for the nine months ended April 30, 2015 and 2014, respectively, of which $1.1 million and $1.5 million, respectively, were amortization of deferred financing costs.

Acquisitions

9 Months Ended

Apr. 30, 2015

Business Combinations [Abstract]

Acquisitions

Park City Mountain Resort

On September 11, 2014, VR CPC Holdings, Inc. ("VR CPC"), a wholly-owned subsidiary of the Company, and Greater Park City Company, Powdr Corp., Greater Properties, Inc., Park Properties, Inc., and Powdr Development Company (collectively, “Park City Sellers”) entered into a Purchase and Sale Agreement (the “Purchase Agreement”) providing for the acquisition of substantially all of the assets related to Park City in Park City, Utah. The cash purchase price was $182.5 million, subject to certain post-closing adjustments. The Company funded the cash purchase price through borrowings under the revolver portion of its existing credit facility.

As provided under the Purchase Agreement, the Company acquired the property, assets and operations of Park City, which includes the ski area and related amenities, from Park City Sellers and assumed leases of certain realty, acquired certain assets, and assumed certain liabilities of Park City Sellers relating to Park City. In addition to the Purchase Agreement, the parties settled the litigation related to the validity of a lease of certain land owned by Talisker Land Holdings, LLC under the ski terrain of Park City (the "Park City Litigation"). In connection with settling the Park City Litigation, the Company recorded a non-cash gain of $16.4 million in the Mountain segment for the nine months ended April 30, 2015. The gain on litigation settlement represents the estimated fair value of the rents (including damages and interest) due the Company from the Park City Sellers for their use of land and improvements from the Canyons transaction date of May 29, 2013 to the Park City acquisition date. Additionally, the Company assigned a fair value of $10.1 million to the settlement of the Park City Litigation that applied to the period prior to the Canyons transaction. The combined fair value of the Park City Litigation settlement of $26.5 million was determined by applying market capitalization rates to the estimated fair market value of the land and improvements, plus an estimate of statutory damages and interest. The estimated fair value of the Park City Litigation settlement was not received in cash, but was instead reflected as part of the cash price negotiated for the Park City acquisition. Accordingly, the estimated fair value of the Park City Litigation settlement was included in the total consideration for the acquisition of Park City. Under an agreement entered into in conjunction with the Canyons transaction, the Company made a $10.0 million payment to Talisker in the nine months ended April 30, 2015, resulting from the settlement of the Park City Litigation.

The following summarizes the preliminary estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands).



	Estimates of Fair Value at Effective Date of Transaction
Accounts receivable	$	1,024
Other assets	3,075
Property, plant and equipment	76,605
Deferred income tax assets, net	7,444
Real estate held for sale and investment	7,000
Intangible assets	27,650
Goodwill	92,431
Total identifiable assets acquired	$	215,229
Accounts payable and accrued liabilities	$	1,960
Deferred revenue	4,319
Total liabilities assumed	$	6,279
Total purchase price	$	208,950

The estimated fair values of assets acquired and liabilities assumed in the acquisition of Park City are preliminary and are based on the information that was available as of the acquisition date to estimate the fair value of assets acquired and liabilities assumed. The Company believes that information provides a reasonable basis for estimating the fair values of assets acquired and liabilities assumed, but the Company is obtaining additional information necessary to finalize those fair values. Therefore, the preliminary measurements of fair value reflected are subject to change. The Company expects to finalize the valuation and complete the purchase price allocation as soon as practicable but no later than one year from the acquisition date. During the three months ended January 31, 2015, the Company recorded an adjustment to its preliminary purchase price allocation of $13.0 million, which reduced real estate held for sale and investment with a corresponding increase to goodwill and will reflect this as a retrospective adjustment as of October 31, 2014.

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 Park City and other factors. The majority of goodwill is expected to be deductible for income tax purposes. The intangible assets primarily consist of trademarks, water rights, and customer lists. The intangible assets have a weighted-average amortization period of approximately 46 years. The operating results of Park City, which are recorded in the Mountain segment, contributed $35.4 million and $63.8 million of net revenue (including an allocation of season pass revenue) for the three and nine months ended April 30, 2015, respectively. The Company has recognized $0.8 million of transaction related expenses in Mountain operating expense in the Consolidated Condensed Statements of Operations for the nine months ended April 30, 2015.

Certain land and improvements in the Park City ski area (excluding the base area) were part of the Talikser leased premises to Park City and was subject to the Park City Litigation as of the Canyons transaction date, and as such, was recorded as a deposit ("Park City Deposit") for the potential future interests in the land and associated improvements at its estimated fair value in conjunction with the Canyons transaction. Upon settlement of the Park City Litigation, the land and improvements associated with the Talisker leased premises became subject to the Canyons lease, and as a result, the Company reclassified the Park City Deposit to the respective assets within property, plant and equipment in the nine months ended April 30, 2015. The inclusion of the land and certain land improvements that was subject to the Park City Litigation and now included in the Canyons lease requires no additional consideration from the Company to Talisker, but the financial contribution from the operations of Park City will be included as part of the calculation of EBITDA for the resort operations, and as a result, factor into the participating contingent payments (see Note 8, Fair Value Measurements). The majority of the assets acquired under the Park City acquisition, although not under lease, are subject to the terms and conditions of the Canyons lease.

The following presents the unaudited pro forma consolidated financial information of the Company as if the acquisition of Park City was completed on August 1, 2013. The following unaudited pro forma financial information includes adjustments for (i) depreciation on acquired property, plant and equipment; (ii) amortization of intangible assets recorded at the date of the transaction; (iii) related-party land leases; and (iv) transaction and business integration 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 transaction taken place on August 1, 2013 (in thousands, except per share amounts).



	Three Months Ended April 30,
	2014
Pro forma net revenue	$	575,637
Pro forma net income attributable to Vail Resorts, Inc.	$	127,625
Pro forma basic net income per share attributable to Vail Resorts, Inc.	$	3.53
Pro forma diluted net income per share attributable to Vail Resorts, Inc.	$	3.44



	Nine Months Ended April 30,
	2015		2014
Pro forma net revenue	$	1,239,878	$	1,175,694
Pro forma net income attributable to Vail Resorts, Inc.	$	185,565	$	113,179
Pro forma basic net income per share attributable to Vail Resorts, Inc.	$	5.11	$	3.13
Pro forma diluted net income per share attributable to Vail Resorts, Inc.	$	4.97	$	3.06

Perisher Ski Resort

On March 30, 2015, VR Australia Holdings Pty Limited, a wholly-owned subsidiary of the Company, and Murray Publishers Pty Ltd, Consolidated Press Holdings Pty Limited, Transfield Corporate Pty Limited and Transfield Pty Limited (collectively, “Perisher Sellers”) entered into a Purchase and Sale Agreement (the “Perisher Purchase Agreement”) providing for the acquisition of 100% of the stock in the entities that operate Perisher Ski Resort ("Perisher") in New South Wales, Australia for cash consideration of approximately AU$176 million. Perisher holds a long-term lease and license with the New South Wales Government under the National Parks and Wildlife Act, which expires in 2048 with a 20-year renewal option. As provided under the Perisher Purchase Agreement, the Company will acquire the entities that hold the assets and operations that include the long-term lease and license with the New South Wales government for the ski area and related amenities of Perisher, including assumed liabilities, from Perisher Sellers. The acquisition is expected to close following the approval by the New South Wales government under the long-term lease and license. The Company expects the transaction to be recorded as a business combination in its consolidated financial statements.

Supplementary Balance Sheet Information

9 Months Ended

Apr. 30, 2015

Balance Sheet Related Disclosures [Abstract]

Supplementary Balance Sheet Information

The composition of property, plant and equipment follows (in thousands):



	April 30, 2015			July 31, 2014			April 30, 2014
Land and land improvements	$	413,775		$	348,328		$	350,674
Buildings and building improvements	957,594			907,280			908,829
Machinery and equipment	777,011			700,745			701,825
Furniture and fixtures	284,403			269,209			273,202
Software	105,482			98,653			99,958
Vehicles	59,708			55,724			55,324
Construction in progress	20,245			31,487			19,453
Gross property, plant and equipment	2,618,218			2,411,426			2,409,265
Accumulated depreciation	(1,359,125		)	(1,263,436		)	(1,244,878		)
Property, plant and equipment, net	$	1,259,093		$	1,147,990		$	1,164,387

The composition of accounts payable and accrued liabilities follows (in thousands):



	April 30, 2015		July 31, 2014		April 30, 2014
Trade payables	$	52,371	$	71,823	$	48,406
Deferred revenue	115,300		110,566		93,135
Accrued salaries, wages and deferred compensation	38,594		29,833		35,221
Accrued benefits	26,459		21,351		25,468
Deposits	18,199		15,272		17,772
Accrued interest	7,865		5,429		13,549
Other accruals	34,268		34,944		31,226
Total accounts payable and accrued liabilities	$	293,056	$	289,218	$	264,777

The composition of other long-term liabilities follows (in thousands):



	April 30, 2015		July 31, 2014		April 30, 2014
Private club deferred initiation fee revenue	$	128,295	$	128,824	$	130,543
Unfavorable lease obligation, net	29,325		31,338		32,034
Other long-term liabilities	78,312		100,519		77,357
Total other long-term liabilities	$	235,932	$	260,681	$	239,934

The changes in the net carrying amount of goodwill allocated between the Company's segments for the nine months ended April 30, 2015 are as follows (in thousands):



	Mountain			Lodging		Goodwill, net
Balance at July 31, 2014	$	310,249		$	67,899	$	378,148
Acquisition	92,431			—		92,431
Effects of changes in foreign currency exchange rates	(293		)	—		(293		)
Balance at April 30, 2015	$	402,387		$	67,899	$	470,286

Variable Interest Entities	9 Months Ended
Variable Interest Entities	Apr. 30, 2015
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities The Company is the primary beneficiary of four employee housing entities (collectively, the “Employee Housing Entities”), Breckenridge Terrace, LLC, The Tarnes at BC, LLC, BC Housing, LLC and Tenderfoot Seasonal Housing, LLC, which are variable interest entities (“VIEs”), and the Company has consolidated them in its Consolidated Condensed Financial Statements. As a group, as of April 30, 2015, the Employee Housing Entities had total assets of $26.8 million (primarily recorded in property, plant and equipment, net) and total liabilities of $63.8 million (primarily recorded in long-term debt as “Employee Housing Bonds”). The Company’s lenders have issued letters of credit totaling $53.4 million under the Company's Credit Agreement related to Employee Housing Bonds. Payments under 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 leases substantially all of that space. APII had total assets of $4.3 million (primarily recorded in property, plant and equipment, net) and no debt as of April 30, 2015.

Fair Value Measurements

9 Months Ended

Apr. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Financial Accounting Standards Board 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 and Contingent Consideration measured at fair value (all other assets and liabilities measured at fair value are immaterial) (in thousands):




	Fair Value Measurement as of April 30, 2015
Description	Balance at April 30, 2015		Level 1		Level 2		Level 3
Description	Balance at April 30, 2015		Level 1		Level 2		Level 3
Assets:
Money Market	$	7,578	$	7,578	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	2,651	$	—	$	2,651	$	—

Liabilities:
Contingent Consideration	$	6,000	$	—	$	—	$	6,000

	Fair Value Measurement as of July 31, 2014
Description	Balance at July 31, 2014		Level 1		Level 2		Level 3
Assets:
Money Market	$	9,022	$	9,022	$	—	$	—
Commercial Paper	$	630	$	—	$	630	$	—
Certificates of Deposit	$	880	$	—	$	880	$	—

Liabilities:
Contingent Consideration	$	10,500	$	—	$	—	$	10,500

	Fair Value Measurement as of April 30, 2014
Description	Balance at April 30, 2014		Level 1		Level 2		Level 3
Assets:
Money Market	$	78,851	$	78,851	$	—	$	—
Commercial Paper	$	630	$	—	$	630	$	—
Certificates of Deposit	$	630	$	—	$	630	$	—

Liabilities:
Contingent Consideration	$	9,100	$	—	$	—	$	9,100

The Company’s cash equivalents are measured utilizing quoted market prices or pricing models whereby all significant inputs are either observable or corroborated by observable market data.

The changes in Contingent Consideration during the nine months ended April 30, 2015 and 2014 were as follows:



Balance as of July 31, 2014 and 2013, respectively	$	10,500		$	9,100
Change in fair value	(4,500		)	—
Balance as of April 30, 2015 and 2014, respectively	$	6,000		$	9,100

The lease for Canyons provides for participating contingent payments to Talisker of 42% of the amount by which EBITDA for the resort operations, as calculated under the lease, exceed approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the lease by the Company (the "Contingent Consideration"). The fair value of Contingent Consideration includes the resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, and increases the EBITDA threshold before which participating contingent payments are made equal to 10% of the purchase price paid by the Company, plus future capital expenditures. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included a discount rate of 11.5%, volatility of 20.0%, and credit risk of 3.0%. The model also incorporates assumptions for EBITDA and capital expenditures, which are unobservable inputs and thus are considered Level 3 inputs. As Contingent Consideration is classified as a liability, the liability is remeasured to fair value at each reporting date until the contingency is resolved. During the nine months ended April 30, 2015, the Company recorded a decrease of $4.5 million in the estimated fair value of the participating contingent payments, and recorded the related gain in income from operations. The estimated fair value of the contingent consideration is $6.0 million as of April 30, 2015 and this liability is recorded in other long-term liabilities in the Consolidated Condensed Balance Sheets.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Apr. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 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 primarily within “other long-term liabilities” in the accompanying Consolidated Condensed Balance Sheets, as of April 30, 2015, July 31, 2014 and April 30, 2014, respectively, with respect to the estimated present value of future RSRMD capital improvement fees. The Company estimates it will make capital improvement fee payments under this arrangement through the year ending July 31, 2029. Guarantees/Indemnifications As of April 30, 2015, the Company had various other letters of credit for $64.3 million, consisting primarily of $53.4 million to support the Employee Housing Bonds and $10.9 million for workers’ compensation, general liability construction related deductibles and other activities. In addition to the guarantees noted above, the Company has entered into contracts in the normal course of business that 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 have agreed to 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 Condensed Financial Statements, either because the Company has recorded on its Consolidated Condensed 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 potential obligations due to the unique set of facts and circumstances 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 for their use of the Company's trademarks and logos. The Company does not record any liabilities with respect to these indemnifications. Self Insurance The Company is self-insured for claims under its health benefit plans and for the majority of workers’ compensation claims, subject to stop loss policies. 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 deemed to be probable losses and estimable. As of April 30, 2015, July 31, 2014 and April 30, 2014, the accrual for the above loss contingencies was not material individually and in the aggregate.

Segment Information

9 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Segment Information

The Company has three reportable segments: Mountain, Lodging and Real Estate. The Mountain segment includes the operations of the Company’s mountain resorts and Urban ski areas and related ancillary services. The Lodging segment includes the operations of all of the Company’s owned hotels, RockResorts, NPS concessionaire properties, condominium management, CME and mountain resort 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 each other, 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, plus gain on litigation settlement 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 (the 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 Condensed 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 plus gain on litigation settlement. 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 expenses. Assets are not allocated between segments, or used to evaluate performance, except as shown in the table below.

The following table presents financial information by reportable segment, which is used by management in evaluating performance and allocating resources (in thousands):



	Three Months Ended April 30,						Nine Months Ended April 30,
	2015			2014			2015			2014
Net revenue:
Lift	$	285,249		$	251,914		$	524,537		$	447,271
Ski school	66,216			62,512			123,511			109,442
Dining	44,003			42,303			90,661			82,369
Retail/rental	71,078			73,785			195,563			188,401
Other	33,005			30,073			88,696			82,091
Total Mountain net revenue	499,551			460,587			1,022,968			909,574
Lodging	67,323			66,293			185,180			179,694
Total Resort net revenue	566,874			526,880			1,208,148			1,089,268
Real estate	12,469			16,167			29,694			29,890
Total net revenue	$	579,343		$	543,047		$	1,237,842		$	1,119,158
Operating expense:
Mountain	$	244,675		$	233,301		$	645,593		$	601,587
Lodging	54,726			53,182			166,407			163,346
Total Resort operating expense	299,401			286,483			812,000			764,933
Real estate	14,028			18,445			35,513			35,682
Total segment operating expense	$	313,429		$	304,928		$	847,513		$	800,615
Gain on litigation settlement	$	—		$	—		$	16,400		$	—
Gain on sale of real property	$	151		$	—		$	151		$	—
Mountain equity investment (loss) income, net	$	(129	)	$	665		$	396		$	1,282
Reported EBITDA:
Mountain	$	254,747		$	227,951		$	394,171		$	309,269
Lodging	12,597			13,111			18,773			16,348
Resort	267,344			241,062			412,944			325,617
Real estate	(1,408		)	(2,278		)	(5,668		)	(5,792		)
Total Reported EBITDA	$	265,936		$	238,784		$	407,276		$	319,825

Real estate held for sale and investment	$	137,740		$	170,818		$	137,740		$	170,818

Reconciliation to net income attributable to Vail Resorts, Inc.:
Total Reported EBITDA	$	265,936		$	238,784		$	407,276		$	319,825
Depreciation and amortization	(38,242		)	(35,588		)	(111,587		)	(105,948		)
Change in fair value of contingent consideration	—			—			4,550			—
(Loss) gain on disposal of fixed assets and other, net	(71		)	634			(852		)	(839		)
Investment income, net	119			124			155			289
Interest expense	(13,735		)	(16,408		)	(41,110		)	(48,745		)
Income before provision for income taxes	214,007			187,546			258,432			164,582
Provision for income taxes	(80,605		)	(69,680		)	(73,654		)	(60,953		)
Net income	$	133,402		$	117,866		$	184,778		$	103,629
Net loss attributable to noncontrolling interests	8			80			118			204
Net income attributable to Vail Resorts, Inc.	$	133,410		$	117,946		$	184,896		$	103,833

Guarantor Subsidiaries And Non-Guarantor Subsidiaries

9 Months Ended

Apr. 30, 2015

Guarantor Subsidiaries And Non Guarantor Subsidiaries

Guarantor Subsidiaries And Non-Guarantor Subsidiaries

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 (collectively, and excluding Non-Guarantor Subsidiaries (as defined below), the “Guarantor Subsidiaries”), except for Eagle Park Reservoir Company, Larkspur Restaurant & Bar, LLC, Black Diamond Insurance, Inc., Skiinfo AS 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. On May 1, 2015, the Company redeemed the outstanding aggregate principal amount of its 6.50% Notes (see Note 4, Long-Term Debt) which upon redemption released the Company's consolidated subsidiary guarantees.

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 April 30, 2015, July 31, 2014, and April 30, 2014. Statements of operations and statements of comprehensive income are presented for the three and nine months ended April 30, 2015 and 2014. Statements of cash flows are presented for the nine months ended April 30, 2015 and 2014. As of April 30, 2014, the Company revised its classification of advances to Parent in the amount of $520.1 million to properly present it as contra equity in the Supplemental Consolidating Condensed Balance Sheet from advances to Parent within total assets. The Company has determined that this revision is not material to the Supplemental Consolidating Condensed Balance Sheet.

Investments in subsidiaries are accounted for by the Parent Company and Guarantor Subsidiaries using the equity method of accounting. Net income (loss) of Guarantor Subsidiaries 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 Subsidiaries 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 Consolidating Condensed Balance Sheet

As of April 30, 2015

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	117,569		$	7,645		$	—		$	125,214
Restricted cash	—		10,672			2,467			—			13,139
Trade receivables, net	—		102,290			3,327			—			105,617
Inventories, net	—		62,007			160			—			62,167
Other current assets	33,732		30,016			306			—			64,054
Total current assets	33,732		322,554			13,905			—			370,191
Property, plant and equipment, net	—		1,219,273			39,820			—			1,259,093
Real estate held for sale and investment	—		137,740			—			—			137,740
Goodwill, net	—		468,922			1,364			—			470,286
Intangible assets, net	—		122,064			19,063			—			141,127
Other assets	2,374		43,639			5,036			(9,981		)	41,068
Investments in subsidiaries	2,112,937		(8,625		)	—			(2,104,312		)	—
Advances to affiliates	—		—			4,027			(4,027		)	—
Total assets	$	2,149,043	$	2,305,567		$	83,215		$	(2,118,320	)	$	2,419,505
Current liabilities:
Accounts payable and accrued liabilities	$	7,262	$	275,979		$	9,815		$	—		$	293,056
Income taxes payable	36,161		—			—			—			36,161
Long-term debt due within one year	215,000		41,709			244			—			256,953
Total current liabilities	258,423		317,688			10,059			—			586,170
Advances from affiliates	665,400		4,027			—			(669,427		)	—
Long-term debt	—		322,533			57,263			—			379,796
Other long-term liabilities	21,211		213,782			10,920			(9,981		)	235,932
Deferred income taxes	240,519		—			(386		)	—			240,133
Total Vail Resorts, Inc. stockholders’ equity (deficit)	963,490		2,112,937			(8,625		)	(2,104,312		)	963,490
Advances to Parent	—		(665,400		)	—			665,400			—
Noncontrolling interests	—		—			13,984			—			13,984
Total stockholders’ equity	963,490		1,447,537			5,359			(1,438,912		)	977,474
Total liabilities and stockholders’ equity	$	2,149,043	$	2,305,567		$	83,215		$	(2,118,320	)	$	2,419,505

Supplemental Consolidating Condensed Balance Sheet

As of July 31, 2014

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	35,070		$	9,336		$	—		$	44,406
Restricted cash	—		11,321			1,860			—			13,181
Trade receivables, net	—		94,390			1,587			—			95,977
Inventories, net	—		66,988			195			—			67,183
Other current assets	29,249		24,736			314			—			54,299
Total current assets	29,249		232,505			13,292			—			275,046
Property, plant and equipment, net	—		1,105,830			42,160			—			1,147,990
Real estate held for sale and investment	—		157,858			—			—			157,858
Goodwill, net	—		376,491			1,657			—			378,148
Intangible assets, net	—		98,227			19,296			—			117,523
Other assets	2,762		100,365			4,137			(9,980		)	97,284
Investments in subsidiaries	1,945,001		(7,188		)	—			(1,937,813		)	—
Advances to affiliates	—		—			2,621			(2,621		)	—
Total assets	$	1,977,012	$	2,064,088		$	83,163		$	(1,950,414	)	$	2,173,849
Current liabilities:
Accounts payable and accrued liabilities	$	3,803	$	277,738		$	7,677		$	—		$	289,218
Income taxes payable	33,966		—			—			—			33,966
Long-term debt due within one year	—		791			231			—			1,022
Total current liabilities	37,769		278,529			7,908			—			324,206
Advances from affiliates	725,839		2,621			—			(728,460		)	—
Long-term debt	215,000		353,093			57,507			—			625,600
Other long-term liabilities	48,875		210,683			11,103			(9,980		)	260,681
Deferred income taxes	128,686		—			(124		)	—			128,562
Total Vail Resorts, Inc. stockholders’ equity (deficit)	820,843		1,945,001			(7,188		)	(1,937,813		)	820,843
Advances to Parent	—		(725,839		)	—			725,839			—
Noncontrolling interests	—		—			13,957			—			13,957
Total stockholders’ equity	820,843		1,219,162			6,769			(1,211,974		)	834,800
Total liabilities and stockholders’ equity	$	1,977,012	$	2,064,088		$	83,163		$	(1,950,414	)	$	2,173,849

Supplemental Consolidating Condensed Balance Sheet

As of April 30, 2014

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	298,642		$	8,789		$	—		$	307,431
Restricted cash	—		11,285			1,772			—			13,057
Trade receivables, net	—		77,108			2,707			—			79,815
Inventories, net	—		60,229			180			—			60,409
Other current assets	29,217		28,961			518			—			58,696
Total current assets	29,217		476,225			13,966			—			519,408
Property, plant and equipment, net	—		1,121,251			43,136			—			1,164,387
Real estate held for sale and investment	—		170,818			—			—			170,818
Goodwill, net	—		376,491			1,729			—			378,220
Intangible assets, net	—		99,149			19,358			—			118,507
Other assets	5,274		97,136			4,154			(9,460		)	97,104
Investments in subsidiaries	2,046,019		(4,984		)	—			(2,041,035		)	—
Advances to affiliates	—		—			3,379			(3,379		)	—
Total assets	$	2,080,510	$	2,336,086		$	85,722		$	(2,053,874	)	$	2,448,444
Current liabilities:
Accounts payable and accrued liabilities	$	13,014	$	243,284		$	8,479		$	—		$	264,777
Income taxes payable	39,043		—			—			—			39,043
Long-term debt due within one year	—		648			231			—			879
Total current liabilities	52,057		243,932			8,710			—			304,699
Advances from affiliates	520,096		3,379			—			(523,475		)	—
Long-term debt	390,000		351,716			57,507			—			799,223
Other long-term liabilities	27,673		211,136			10,585			(9,460		)	239,934
Deferred income taxes	183,535		—			(62		)	—			183,473
Total Vail Resorts, Inc. stockholders’ equity (deficit)	907,149		2,046,019			(4,984		)	(2,041,035		)	907,149
Advances to Parent	—		(520,096		)	—			520,096			—
Noncontrolling interests	—		—			13,966			—			13,966
Total stockholders’ equity	907,149		1,525,923			8,982			(1,520,939		)	921,115
Total liabilities and stockholders’ equity	$	2,080,510	$	2,336,086		$	85,722		$	(2,053,874	)	$	2,448,444

Supplemental Consolidating Condensed Statement of Operations

For the three months ended April 30, 2015

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	577,461		$	6,493		$	(4,611	)	$	579,343
Total operating expense	64			350,193			5,907			(4,573		)	351,591
(Loss) income from operations	(64		)	227,268			586			(38		)	227,752
Other expense, net	(3,593		)	(9,743		)	(318		)	38			(13,616		)
Equity investment loss, net	—			(129		)	—			—			(129		)
(Loss) income before benefit (provision) for income taxes	(3,657		)	217,396			268			—			214,007
Benefit (provision) for income taxes	1,257			(81,823		)	(39		)	—			(80,605		)
Net (loss) income before equity in income of consolidated subsidiaries	(2,400		)	135,573			229			—			133,402
Equity in income of consolidated subsidiaries	135,810			237			—			(136,047		)	—
Net income	133,410			135,810			229			(136,047		)	133,402
Net loss attributable to noncontrolling interests	—			—			8			—			8
Net income attributable to Vail Resorts, Inc.	$	133,410		$	135,810		$	237		$	(136,047	)	$	133,410

Supplemental Consolidating Condensed Statement of Operations

For the three months ended April 30, 2014

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	539,704		$	6,494		$	(3,151	)	$	543,047
Total operating expense	106			336,623			6,266			(3,113		)	339,882
(Loss) income from operations	(106		)	203,081			228			(38		)	203,165
Other expense, net	(6,600		)	(9,331		)	(391		)	38			(16,284		)
Equity investment income, net	—			665			—			—			665
(Loss) income before benefit (provision) for income taxes	(6,706		)	194,415			(163		)	—			187,546
Benefit (provision) for income taxes	2,564			(72,295		)	51			—			(69,680		)
Net (loss) income before equity in income (loss) of consolidated subsidiaries	(4,142		)	122,120			(112		)	—			117,866
Equity in income (loss) of consolidated subsidiaries	122,088			(32		)	—			(122,056		)	—
Net income (loss)	117,946			122,088			(112		)	(122,056		)	117,866
Net loss attributable to noncontrolling interests	—			—			80			—			80
Net income (loss) attributable to Vail Resorts, Inc.	$	117,946		$	122,088		$	(32	)	$	(122,056	)	$	117,946

Supplemental Consolidating Condensed Statement of Operations

For the nine months ended April 30, 2015

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	1,235,712		$	15,710		$	(13,580	)	$	1,237,842
Total operating expense	285			956,630			16,352			(13,466		)	959,801
Gain on litigation settlement	—			16,400			—			—			16,400
Change in fair value of contingent consideration	—			4,550			—			—			4,550
(Loss) income from operations	(285		)	300,032			(642		)	(114		)	298,991
Other expense, net	(10,871		)	(29,197		)	(1,001		)	114			(40,955		)
Equity investment income, net	—			396			—			—			396
(Loss) income before benefit (provision) for income taxes	(11,156		)	271,231			(1,643		)	—			258,432
Benefit (provision) for income taxes	27,691			(101,406		)	61			—			(73,654		)
Net income (loss) before equity in income (loss) of consolidated subsidiaries	16,535			169,825			(1,582		)	—			184,778
Equity in income (loss) of consolidated subsidiaries	168,361			(1,464		)	—			(166,897		)	—
Net income (loss)	184,896			168,361			(1,582		)	(166,897		)	184,778
Net loss attributable to noncontrolling interests	—			—			118			—			118
Net income (loss) attributable to Vail Resorts, Inc.	$	184,896		$	168,361		$	(1,464	)	$	(166,897	)	$	184,896

Supplemental Consolidating Condensed Statement of Operations

For the nine months ended April 30, 2014

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	1,113,141		$	15,840		$	(9,823	)	$	1,119,158
Total operating expense	286			899,631			17,194			(9,709		)	907,402
(Loss) income from operations	(286		)	213,510			(1,354		)	(114		)	211,756
Other expense, net	(19,802		)	(27,630		)	(1,138		)	114			(48,456		)
Equity investment income, net	—			1,282			—			—			1,282
(Loss) income before benefit (provision) for income taxes	(20,088		)	187,162			(2,492		)	—			164,582
Benefit (provision) for income taxes	7,810			(68,971		)	208			—			(60,953		)
Net (loss) income before equity in income (loss) of consolidated subsidiaries	(12,278		)	118,191			(2,284		)	—			103,629
Equity in income (loss) of consolidated subsidiaries	116,111			(2,080		)	—			(114,031		)	—
Net income (loss)	103,833			116,111			(2,284		)	(114,031		)	103,629
Net loss attributable to noncontrolling interests	—			—			204			—			204
Net income (loss) attributable to Vail Resorts, Inc.	$	103,833		$	116,111		$	(2,080	)	$	(114,031	)	$	103,833

Supplemental Consolidating Condensed Statement of Comprehensive Income

For the three months ended April 30, 2015

(In thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Net income	$	133,410	$	135,810		$	229		$	(136,047	)	$	133,402
Foreign currency translation adjustments, net of tax	23		(23		)	(23		)	46			23
Comprehensive income	133,433		135,787			206			(136,001		)	133,425
Comprehensive loss attributable to noncontrolling interests	—		—			8			—			8
Comprehensive income attributable to Vail Resorts, Inc.	$	133,433	$	135,787		$	214		$	(136,001	)	$	133,433

Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss)

For the three months ended April 30, 2014

(In thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries		Other Subsidiaries			Eliminating Entries			Consolidated
Net income (loss)	$	117,946	$	122,088	$	(112	)	$	(122,056	)	$	117,866
Foreign currency translation adjustments, net of tax	85		85		85			(170		)	85
Comprehensive income (loss)	118,031		122,173		(27		)	(122,226		)	117,951
Comprehensive loss attributable to noncontrolling interests	—		—		80			—			80
Comprehensive income attributable to Vail Resorts, Inc.	$	118,031	$	122,173	$	53		$	(122,226	)	$	118,031

Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss)

For the nine months ended April 30, 2015

(In thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries		Other Subsidiaries			Eliminating Entries			Consolidated
Net income (loss)	$	184,896		$	168,361	$	(1,582	)	$	(166,897	)	$	184,778
Foreign currency translation adjustments, net of tax	(424		)	424		424			(848		)	(424		)
Comprehensive income (loss)	184,472			168,785		(1,158		)	(167,745		)	184,354
Comprehensive loss attributable to noncontrolling interests	—			—		118			—			118
Comprehensive income (loss) attributable to Vail Resorts, Inc.	$	184,472		$	168,785	$	(1,040	)	$	(167,745	)	$	184,472

Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss)

For the nine months ended April 30, 2014

(In thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Net income (loss)	$	103,833		$	116,111		$	(2,284	)	$	(114,031	)	$	103,629
Foreign currency translation adjustments, net of tax	(34		)	(34		)	(34		)	68			(34		)
Comprehensive income (loss)	103,799			116,077			(2,318		)	(113,963		)	103,595
Comprehensive loss attributable to noncontrolling interests	—			—			204			—			204
Comprehensive income (loss) attributable to Vail Resorts, Inc.	$	103,799		$	116,077		$	(2,114	)	$	(113,963	)	$	103,799

Supplemental Consolidating Condensed Statement of Cash Flows

For the nine months ended April 30, 2015

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Consolidated
Net cash provided by (used in) operating activities	$	109,692		$	285,406		$	(622	)	$	394,476
Cash flows from investing activities:
Capital expenditures	—			(84,941		)	(642		)	(85,583		)
Acquisition of business	—			(182,500		)	—			(182,500		)
Other investing activities, net	—			3,288			(14		)	3,274
Net cash used in investing activities	—			(264,153		)	(656		)	(264,809		)
Cash flows from financing activities:
Proceeds from borrowings under long-term debt	—			253,000			—			253,000
Payments of other long-term debt	—			(253,782		)	(231		)	(254,013		)
Dividends paid	(52,778		)	—			—			(52,778		)
Other financing activities, net	3,878			1,018			145			5,041
Advances	(60,792		)	60,792			—			—
Net cash (used in) provided by financing activities	(109,692		)	61,028			(86		)	(48,750		)
Effect of exchange rate changes on cash and cash equivalents	—			218			(327		)	(109		)
Net increase (decrease) in cash and cash equivalents	—			82,499			(1,691		)	80,808
Cash and cash equivalents:
Beginning of period	—			35,070			9,336			44,406
End of period	$	—		$	117,569		$	7,645		$	125,214

Supplemental Consolidating Condensed Statement of Cash Flows

For the nine months ended April 30, 2014

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Consolidated
Net cash provided by operating activities	$	52,146		$	252,610		$	1,441		$	306,197
Cash flows from investing activities:
Capital expenditures	—			(107,208		)	(892		)	(108,100		)
Other investing activities, net	—			912			8			920
Net cash used in investing activities	—			(106,296		)	(884		)	(107,180		)
Cash flows from financing activities:
Payments of other long-term debt	—			(758		)	(219		)	(977		)
Dividends paid	(29,998		)	—			—			(29,998		)
Other financing activities, net	3,880			(3,891		)	743			732
Advances	(26,028		)	26,028			—			—
Net cash (used in) provided by financing activities	(52,146		)	21,379			524			(30,243		)
Effect of exchange rate changes on cash and cash equivalents	—			(21		)	74			53
Net increase in cash and cash equivalents	—			167,672			1,155			168,827
Cash and cash equivalents:
Beginning of period	—			130,970			7,634			138,604
End of period	$	—		$	298,642		$	8,789		$	307,431

Income Taxes (Notes)	9 Months Ended
Income Taxes (Notes)	Apr. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	12. Income Taxes The Company had Federal net operating loss (“NOL”) carryforwards that 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 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. 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, plus interest. 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 computations themselves, however, remained in dispute, and the District Court's ruling was subject to appeal by the IRS. Subsequently, the District Court proceedings were continued pending settlement discussions between the parties. The Company also filed 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 involved substantially the same issues as the litigation in the District Court for tax years 2000 and 2001 in which the Company disagreed with the IRS as to the utilization of NOLs. Like the District Court proceedings, the Tax Court proceedings were continued pending settlement discussions between the parties. On January 29, 2015, the parties completed the execution of a comprehensive settlement agreement resolving all issues and computations in the above mentioned pending proceedings, which allowed the Company to utilize a significant portion of the NOLs. As a result, the Company reversed $27.7 million of other long-term liabilities related to uncertain tax benefits, and recorded income tax benefits of $23.8 million for the utilization of the NOLs, including the reversal of accrued interest and penalties, within its Consolidated Condensed Statements of Operations for the nine months ended April 30, 2015.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Consolidated Financial Statements Policy [Table Text Block]

Use of Estimates

Noncontrolling Interests In Consolidated Financial Statements



	For the Nine Months Ended April 30,
	2015									2014
	Vail Resorts Stockholders’ Equity			Noncontrolling Interests			Total Stockholders' Equity			Vail Resorts Stockholders’ Equity			Noncontrolling Interests			Total Stockholders' Equity
Balance, beginning of period	$	820,843		$	13,957		$	834,800		$	823,868		$	14,001		$	837,869
Net income (loss)	184,896			(118		)	184,778			103,833			(204		)	103,629
Stock-based compensation expense	11,718			—			11,718			10,539			—			10,539
Issuance of shares under share award plans, net of shares withheld for taxes	(4,629		)	—			(4,629		)	(4,797		)	—			(4,797		)
Tax benefit from share award plans	3,864			—			3,864			3,738			—			3,738
Cash dividends paid on common stock	(52,778		)	—			(52,778		)	(29,998		)	—			(29,998		)
Contributions from noncontrolling interests, net	—			145			145			—			169			169
Foreign currency translation adjustments, net of tax	(424		)	—			(424		)	(34		)	—			(34		)
Balance, end of period	$	963,490		$	13,984		$	977,474		$	907,149		$	13,966		$	921,115

Fair Value of Financial Instruments



	April 30, 2015
	Carrying Value		Fair Value
6.50% Notes	$	215,000	$	221,988
Industrial Development Bonds	$	41,200	$	42,848
Other long-term debt	$	11,875	$	12,521

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Apr. 30, 2015

Accounting Policies [Abstract]

Schedule of Changes in Total Stockholders Equity

The following table summarizes the changes in total stockholders’ equity (in thousands):



	For the Nine Months Ended April 30,
	2015									2014
	Vail Resorts Stockholders’ Equity			Noncontrolling Interests			Total Stockholders' Equity			Vail Resorts Stockholders’ Equity			Noncontrolling Interests			Total Stockholders' Equity
Balance, beginning of period	$	820,843		$	13,957		$	834,800		$	823,868		$	14,001		$	837,869
Net income (loss)	184,896			(118		)	184,778			103,833			(204		)	103,629
Stock-based compensation expense	11,718			—			11,718			10,539			—			10,539
Issuance of shares under share award plans, net of shares withheld for taxes	(4,629		)	—			(4,629		)	(4,797		)	—			(4,797		)
Tax benefit from share award plans	3,864			—			3,864			3,738			—			3,738
Cash dividends paid on common stock	(52,778		)	—			(52,778		)	(29,998		)	—			(29,998		)
Contributions from noncontrolling interests, net	—			145			145			—			169			169
Foreign currency translation adjustments, net of tax	(424		)	—			(424		)	(34		)	—			(34		)
Balance, end of period	$	963,490		$	13,984		$	977,474		$	907,149		$	13,966		$	921,115

Summary Of Estimated Fair Value Of Financial Instruments

The estimated fair values of the 6.50% Notes, Industrial Development Bonds and other long-term debt as of April 30, 2015 are presented below (in thousands):



	April 30, 2015
	Carrying Value		Fair Value
6.50% Notes	$	215,000	$	221,988
Industrial Development Bonds	$	41,200	$	42,848
Other long-term debt	$	11,875	$	12,521

Net Income Per Common Share (Tables)

9 Months Ended

Apr. 30, 2015

Earnings Per Share Reconciliation [Abstract]

Summary Of Calculation On Basic And Diluted EPS

Presented below is basic and diluted EPS for the nine months ended April 30, 2015 and 2014 (in thousands, except per share amounts):



	Nine Months Ended April 30,
	2015				2014
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	184,896	$	184,896	$	103,833	$	103,833
Weighted-average shares outstanding	36,310		36,310		36,105		36,105
Effect of dilutive securities	—		1,052		—		920
Total shares	36,310		37,362		36,105		37,025
Net income per share attributable to Vail Resorts	$	5.09	$	4.95	$	2.88	$	2.80

Presented below is basic and diluted EPS for the three months ended April 30, 2015 and 2014 (in thousands, except per share amounts):



	Three Months Ended April 30,
	2015				2014
	Basic		Diluted		Basic		Diluted
Net income per share:
Net income attributable to Vail Resorts	$	133,410	$	133,410	$	117,946	$	117,946
Weighted-average shares outstanding	36,354		36,354		36,159		36,159
Effect of dilutive securities	—		1,099		—		895
Total shares	36,354		37,453		36,159		37,054
Net income per share attributable to Vail Resorts	$	3.67	$	3.56	$	3.26	$	3.18

Long-Term Debt (Tables)

9 Months Ended

Apr. 30, 2015

Debt Disclosure [Abstract]

Schedule Of Long-Term Debt

Long-term debt as of April 30, 2015, July 31, 2014 and April 30, 2014 is summarized as follows (in thousands):



	Maturity (a)	April 30, 2015		July 31, 2014		April 30, 2014
Credit Facility Revolver (b)	2019	$	—	$	—	$	—
Industrial Development Bonds (c)	2020	41,200		41,200		41,200
Employee Housing Bonds	2027-2039	52,575		52,575		52,575
6.50% Notes (c)	2019	215,000		215,000		390,000
Canyons obligation	2063	316,056		311,858		310,472
Other	2015-2029	11,918		5,989		5,855
Total debt		636,749		626,622		800,102
Less: Current maturities (d)		256,953		1,022		879
Long-term debt		$	379,796	$	625,600	$	799,223


(a)	Maturities are based on the Company’s July 31 fiscal year end.

(b)

(c)


(d)	Current maturities represent principal payments due in the next 12 months.

Schedule Of Aggregate Maturities For Debt Outstanding

Aggregate maturities for debt outstanding as of April 30, 2015 reflected by fiscal year are as follows (in thousands):



	Total
2015	$	256,319
2016	779
2017	854
2018	897
2019	955
Thereafter	376,945
Total debt	$	636,749

Acquisitions Acquisitions (Tables) (PCMR [Member])

9 Months Ended

Apr. 30, 2015

PCMR [Member]

Business Acquisition [Line Items]

Business Acquisition, Pro Forma Information [Table Text Block]

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 transaction taken place on August 1, 2013 (in thousands, except per share amounts).



	Three Months Ended April 30,
	2014
Pro forma net revenue	$	575,637
Pro forma net income attributable to Vail Resorts, Inc.	$	127,625
Pro forma basic net income per share attributable to Vail Resorts, Inc.	$	3.53
Pro forma diluted net income per share attributable to Vail Resorts, Inc.	$	3.44



	Nine Months Ended April 30,
	2015		2014
Pro forma net revenue	$	1,239,878	$	1,175,694
Pro forma net income attributable to Vail Resorts, Inc.	$	185,565	$	113,179
Pro forma basic net income per share attributable to Vail Resorts, Inc.	$	5.11	$	3.13
Pro forma diluted net income per share attributable to Vail Resorts, Inc.	$	4.97	$	3.06

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following summarizes the preliminary estimated fair values of the identifiable assets acquired and liabilities assumed at the date the transaction was effective (in thousands).



	Estimates of Fair Value at Effective Date of Transaction
Accounts receivable	$	1,024
Other assets	3,075
Property, plant and equipment	76,605
Deferred income tax assets, net	7,444
Real estate held for sale and investment	7,000
Intangible assets	27,650
Goodwill	92,431
Total identifiable assets acquired	$	215,229
Accounts payable and accrued liabilities	$	1,960
Deferred revenue	4,319
Total liabilities assumed	$	6,279
Total purchase price	$	208,950

Supplementary Balance Sheet Information (Tables)

9 Months Ended

Apr. 30, 2015

Balance Sheet Related Disclosures [Abstract]

Composition Of Property, Plant And Equipment

The composition of property, plant and equipment follows (in thousands):



	April 30, 2015			July 31, 2014			April 30, 2014
Land and land improvements	$	413,775		$	348,328		$	350,674
Buildings and building improvements	957,594			907,280			908,829
Machinery and equipment	777,011			700,745			701,825
Furniture and fixtures	284,403			269,209			273,202
Software	105,482			98,653			99,958
Vehicles	59,708			55,724			55,324
Construction in progress	20,245			31,487			19,453
Gross property, plant and equipment	2,618,218			2,411,426			2,409,265
Accumulated depreciation	(1,359,125		)	(1,263,436		)	(1,244,878		)
Property, plant and equipment, net	$	1,259,093		$	1,147,990		$	1,164,387

Components Of Accounts Payable And Accrued Liabilities

The composition of accounts payable and accrued liabilities follows (in thousands):



	April 30, 2015		July 31, 2014		April 30, 2014
Trade payables	$	52,371	$	71,823	$	48,406
Deferred revenue	115,300		110,566		93,135
Accrued salaries, wages and deferred compensation	38,594		29,833		35,221
Accrued benefits	26,459		21,351		25,468
Deposits	18,199		15,272		17,772
Accrued interest	7,865		5,429		13,549
Other accruals	34,268		34,944		31,226
Total accounts payable and accrued liabilities	$	293,056	$	289,218	$	264,777

Components Of Other Long-Term Liabilities

The composition of other long-term liabilities follows (in thousands):



	April 30, 2015		July 31, 2014		April 30, 2014
Private club deferred initiation fee revenue	$	128,295	$	128,824	$	130,543
Unfavorable lease obligation, net	29,325		31,338		32,034
Other long-term liabilities	78,312		100,519		77,357
Total other long-term liabilities	$	235,932	$	260,681	$	239,934

Schedule of Goodwill [Table Text Block]

The changes in the net carrying amount of goodwill allocated between the Company's segments for the nine months ended April 30, 2015 are as follows (in thousands):



	Mountain			Lodging		Goodwill, net
Balance at July 31, 2014	$	310,249		$	67,899	$	378,148
Acquisition	92,431			—		92,431
Effects of changes in foreign currency exchange rates	(293		)	—		(293		)
Balance at April 30, 2015	$	402,387		$	67,899	$	470,286

Fair Value Measurements (Tables)

9 Months Ended

Apr. 30, 2015

Fair Value Disclosures [Abstract]

Summary Of Cash Equivalents Measured At Fair Value




	Fair Value Measurement as of April 30, 2015
Description	Balance at April 30, 2015		Level 1		Level 2		Level 3
Description	Balance at April 30, 2015		Level 1		Level 2		Level 3
Assets:
Money Market	$	7,578	$	7,578	$	—	$	—
Commercial Paper	$	2,401	$	—	$	2,401	$	—
Certificates of Deposit	$	2,651	$	—	$	2,651	$	—

Liabilities:
Contingent Consideration	$	6,000	$	—	$	—	$	6,000

	Fair Value Measurement as of July 31, 2014
Description	Balance at July 31, 2014		Level 1		Level 2		Level 3
Assets:
Money Market	$	9,022	$	9,022	$	—	$	—
Commercial Paper	$	630	$	—	$	630	$	—
Certificates of Deposit	$	880	$	—	$	880	$	—

Liabilities:
Contingent Consideration	$	10,500	$	—	$	—	$	10,500

	Fair Value Measurement as of April 30, 2014
Description	Balance at April 30, 2014		Level 1		Level 2		Level 3
Assets:
Money Market	$	78,851	$	78,851	$	—	$	—
Commercial Paper	$	630	$	—	$	630	$	—
Certificates of Deposit	$	630	$	—	$	630	$	—

Liabilities:
Contingent Consideration	$	9,100	$	—	$	—	$	9,100

Segment Information (Tables)

9 Months Ended

Apr. 30, 2015

Segment Reporting [Abstract]

Summary Of Financial Information By Reportable Segment

The following table presents financial information by reportable segment, which is used by management in evaluating performance and allocating resources (in thousands):



	Three Months Ended April 30,						Nine Months Ended April 30,
	2015			2014			2015			2014
Net revenue:
Lift	$	285,249		$	251,914		$	524,537		$	447,271
Ski school	66,216			62,512			123,511			109,442
Dining	44,003			42,303			90,661			82,369
Retail/rental	71,078			73,785			195,563			188,401
Other	33,005			30,073			88,696			82,091
Total Mountain net revenue	499,551			460,587			1,022,968			909,574
Lodging	67,323			66,293			185,180			179,694
Total Resort net revenue	566,874			526,880			1,208,148			1,089,268
Real estate	12,469			16,167			29,694			29,890
Total net revenue	$	579,343		$	543,047		$	1,237,842		$	1,119,158
Operating expense:
Mountain	$	244,675		$	233,301		$	645,593		$	601,587
Lodging	54,726			53,182			166,407			163,346
Total Resort operating expense	299,401			286,483			812,000			764,933
Real estate	14,028			18,445			35,513			35,682
Total segment operating expense	$	313,429		$	304,928		$	847,513		$	800,615
Gain on litigation settlement	$	—		$	—		$	16,400		$	—
Gain on sale of real property	$	151		$	—		$	151		$	—
Mountain equity investment (loss) income, net	$	(129	)	$	665		$	396		$	1,282
Reported EBITDA:
Mountain	$	254,747		$	227,951		$	394,171		$	309,269
Lodging	12,597			13,111			18,773			16,348
Resort	267,344			241,062			412,944			325,617
Real estate	(1,408		)	(2,278		)	(5,668		)	(5,792		)
Total Reported EBITDA	$	265,936		$	238,784		$	407,276		$	319,825

Real estate held for sale and investment	$	137,740		$	170,818		$	137,740		$	170,818

Reconciliation to net income attributable to Vail Resorts, Inc.:
Total Reported EBITDA	$	265,936		$	238,784		$	407,276		$	319,825
Depreciation and amortization	(38,242		)	(35,588		)	(111,587		)	(105,948		)
Change in fair value of contingent consideration	—			—			4,550			—
(Loss) gain on disposal of fixed assets and other, net	(71		)	634			(852		)	(839		)
Investment income, net	119			124			155			289
Interest expense	(13,735		)	(16,408		)	(41,110		)	(48,745		)
Income before provision for income taxes	214,007			187,546			258,432			164,582
Provision for income taxes	(80,605		)	(69,680		)	(73,654		)	(60,953		)
Net income	$	133,402		$	117,866		$	184,778		$	103,629
Net loss attributable to noncontrolling interests	8			80			118			204
Net income attributable to Vail Resorts, Inc.	$	133,410		$	117,946		$	184,896		$	103,833

Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Tables)

9 Months Ended

Apr. 30, 2015

Guarantor Subsidiaries And Non Guarantor Subsidiaries

Supplemental Condensed Consolidating Balance Sheet

Supplemental Consolidating Condensed Balance Sheet

As of April 30, 2015

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	117,569		$	7,645		$	—		$	125,214
Restricted cash	—		10,672			2,467			—			13,139
Trade receivables, net	—		102,290			3,327			—			105,617
Inventories, net	—		62,007			160			—			62,167
Other current assets	33,732		30,016			306			—			64,054
Total current assets	33,732		322,554			13,905			—			370,191
Property, plant and equipment, net	—		1,219,273			39,820			—			1,259,093
Real estate held for sale and investment	—		137,740			—			—			137,740
Goodwill, net	—		468,922			1,364			—			470,286
Intangible assets, net	—		122,064			19,063			—			141,127
Other assets	2,374		43,639			5,036			(9,981		)	41,068
Investments in subsidiaries	2,112,937		(8,625		)	—			(2,104,312		)	—
Advances to affiliates	—		—			4,027			(4,027		)	—
Total assets	$	2,149,043	$	2,305,567		$	83,215		$	(2,118,320	)	$	2,419,505
Current liabilities:
Accounts payable and accrued liabilities	$	7,262	$	275,979		$	9,815		$	—		$	293,056
Income taxes payable	36,161		—			—			—			36,161
Long-term debt due within one year	215,000		41,709			244			—			256,953
Total current liabilities	258,423		317,688			10,059			—			586,170
Advances from affiliates	665,400		4,027			—			(669,427		)	—
Long-term debt	—		322,533			57,263			—			379,796
Other long-term liabilities	21,211		213,782			10,920			(9,981		)	235,932
Deferred income taxes	240,519		—			(386		)	—			240,133
Total Vail Resorts, Inc. stockholders’ equity (deficit)	963,490		2,112,937			(8,625		)	(2,104,312		)	963,490
Advances to Parent	—		(665,400		)	—			665,400			—
Noncontrolling interests	—		—			13,984			—			13,984
Total stockholders’ equity	963,490		1,447,537			5,359			(1,438,912		)	977,474
Total liabilities and stockholders’ equity	$	2,149,043	$	2,305,567		$	83,215		$	(2,118,320	)	$	2,419,505

Supplemental Consolidating Condensed Balance Sheet

As of July 31, 2014

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	35,070		$	9,336		$	—		$	44,406
Restricted cash	—		11,321			1,860			—			13,181
Trade receivables, net	—		94,390			1,587			—			95,977
Inventories, net	—		66,988			195			—			67,183
Other current assets	29,249		24,736			314			—			54,299
Total current assets	29,249		232,505			13,292			—			275,046
Property, plant and equipment, net	—		1,105,830			42,160			—			1,147,990
Real estate held for sale and investment	—		157,858			—			—			157,858
Goodwill, net	—		376,491			1,657			—			378,148
Intangible assets, net	—		98,227			19,296			—			117,523
Other assets	2,762		100,365			4,137			(9,980		)	97,284
Investments in subsidiaries	1,945,001		(7,188		)	—			(1,937,813		)	—
Advances to affiliates	—		—			2,621			(2,621		)	—
Total assets	$	1,977,012	$	2,064,088		$	83,163		$	(1,950,414	)	$	2,173,849
Current liabilities:
Accounts payable and accrued liabilities	$	3,803	$	277,738		$	7,677		$	—		$	289,218
Income taxes payable	33,966		—			—			—			33,966
Long-term debt due within one year	—		791			231			—			1,022
Total current liabilities	37,769		278,529			7,908			—			324,206
Advances from affiliates	725,839		2,621			—			(728,460		)	—
Long-term debt	215,000		353,093			57,507			—			625,600
Other long-term liabilities	48,875		210,683			11,103			(9,980		)	260,681
Deferred income taxes	128,686		—			(124		)	—			128,562
Total Vail Resorts, Inc. stockholders’ equity (deficit)	820,843		1,945,001			(7,188		)	(1,937,813		)	820,843
Advances to Parent	—		(725,839		)	—			725,839			—
Noncontrolling interests	—		—			13,957			—			13,957
Total stockholders’ equity	820,843		1,219,162			6,769			(1,211,974		)	834,800
Total liabilities and stockholders’ equity	$	1,977,012	$	2,064,088		$	83,163		$	(1,950,414	)	$	2,173,849

Supplemental Consolidating Condensed Balance Sheet

As of April 30, 2014

(in thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	298,642		$	8,789		$	—		$	307,431
Restricted cash	—		11,285			1,772			—			13,057
Trade receivables, net	—		77,108			2,707			—			79,815
Inventories, net	—		60,229			180			—			60,409
Other current assets	29,217		28,961			518			—			58,696
Total current assets	29,217		476,225			13,966			—			519,408
Property, plant and equipment, net	—		1,121,251			43,136			—			1,164,387
Real estate held for sale and investment	—		170,818			—			—			170,818
Goodwill, net	—		376,491			1,729			—			378,220
Intangible assets, net	—		99,149			19,358			—			118,507
Other assets	5,274		97,136			4,154			(9,460		)	97,104
Investments in subsidiaries	2,046,019		(4,984		)	—			(2,041,035		)	—
Advances to affiliates	—		—			3,379			(3,379		)	—
Total assets	$	2,080,510	$	2,336,086		$	85,722		$	(2,053,874	)	$	2,448,444
Current liabilities:
Accounts payable and accrued liabilities	$	13,014	$	243,284		$	8,479		$	—		$	264,777
Income taxes payable	39,043		—			—			—			39,043
Long-term debt due within one year	—		648			231			—			879
Total current liabilities	52,057		243,932			8,710			—			304,699
Advances from affiliates	520,096		3,379			—			(523,475		)	—
Long-term debt	390,000		351,716			57,507			—			799,223
Other long-term liabilities	27,673		211,136			10,585			(9,460		)	239,934
Deferred income taxes	183,535		—			(62		)	—			183,473
Total Vail Resorts, Inc. stockholders’ equity (deficit)	907,149		2,046,019			(4,984		)	(2,041,035		)	907,149
Advances to Parent	—		(520,096		)	—			520,096			—
Noncontrolling interests	—		—			13,966			—			13,966
Total stockholders’ equity	907,149		1,525,923			8,982			(1,520,939		)	921,115
Total liabilities and stockholders’ equity	$	2,080,510	$	2,336,086		$	85,722		$	(2,053,874	)	$	2,448,444

Supplemental Condensed Consolidating Statement Of Operations

Supplemental Consolidating Condensed Statement of Operations

For the three months ended April 30, 2015

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	577,461		$	6,493		$	(4,611	)	$	579,343
Total operating expense	64			350,193			5,907			(4,573		)	351,591
(Loss) income from operations	(64		)	227,268			586			(38		)	227,752
Other expense, net	(3,593		)	(9,743		)	(318		)	38			(13,616		)
Equity investment loss, net	—			(129		)	—			—			(129		)
(Loss) income before benefit (provision) for income taxes	(3,657		)	217,396			268			—			214,007
Benefit (provision) for income taxes	1,257			(81,823		)	(39		)	—			(80,605		)
Net (loss) income before equity in income of consolidated subsidiaries	(2,400		)	135,573			229			—			133,402
Equity in income of consolidated subsidiaries	135,810			237			—			(136,047		)	—
Net income	133,410			135,810			229			(136,047		)	133,402
Net loss attributable to noncontrolling interests	—			—			8			—			8
Net income attributable to Vail Resorts, Inc.	$	133,410		$	135,810		$	237		$	(136,047	)	$	133,410

Supplemental Consolidating Condensed Statement of Operations

For the three months ended April 30, 2014

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	539,704		$	6,494		$	(3,151	)	$	543,047
Total operating expense	106			336,623			6,266			(3,113		)	339,882
(Loss) income from operations	(106		)	203,081			228			(38		)	203,165
Other expense, net	(6,600		)	(9,331		)	(391		)	38			(16,284		)
Equity investment income, net	—			665			—			—			665
(Loss) income before benefit (provision) for income taxes	(6,706		)	194,415			(163		)	—			187,546
Benefit (provision) for income taxes	2,564			(72,295		)	51			—			(69,680		)
Net (loss) income before equity in income (loss) of consolidated subsidiaries	(4,142		)	122,120			(112		)	—			117,866
Equity in income (loss) of consolidated subsidiaries	122,088			(32		)	—			(122,056		)	—
Net income (loss)	117,946			122,088			(112		)	(122,056		)	117,866
Net loss attributable to noncontrolling interests	—			—			80			—			80
Net income (loss) attributable to Vail Resorts, Inc.	$	117,946		$	122,088		$	(32	)	$	(122,056	)	$	117,946

Supplemental Consolidating Condensed Statement of Operations

For the nine months ended April 30, 2015

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	1,235,712		$	15,710		$	(13,580	)	$	1,237,842
Total operating expense	285			956,630			16,352			(13,466		)	959,801
Gain on litigation settlement	—			16,400			—			—			16,400
Change in fair value of contingent consideration	—			4,550			—			—			4,550
(Loss) income from operations	(285		)	300,032			(642		)	(114		)	298,991
Other expense, net	(10,871		)	(29,197		)	(1,001		)	114			(40,955		)
Equity investment income, net	—			396			—			—			396
(Loss) income before benefit (provision) for income taxes	(11,156		)	271,231			(1,643		)	—			258,432
Benefit (provision) for income taxes	27,691			(101,406		)	61			—			(73,654		)
Net income (loss) before equity in income (loss) of consolidated subsidiaries	16,535			169,825			(1,582		)	—			184,778
Equity in income (loss) of consolidated subsidiaries	168,361			(1,464		)	—			(166,897		)	—
Net income (loss)	184,896			168,361			(1,582		)	(166,897		)	184,778
Net loss attributable to noncontrolling interests	—			—			118			—			118
Net income (loss) attributable to Vail Resorts, Inc.	$	184,896		$	168,361		$	(1,464	)	$	(166,897	)	$	184,896

Supplemental Consolidating Condensed Statement of Operations

For the nine months ended April 30, 2014

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Total net revenue	$	—		$	1,113,141		$	15,840		$	(9,823	)	$	1,119,158
Total operating expense	286			899,631			17,194			(9,709		)	907,402
(Loss) income from operations	(286		)	213,510			(1,354		)	(114		)	211,756
Other expense, net	(19,802		)	(27,630		)	(1,138		)	114			(48,456		)
Equity investment income, net	—			1,282			—			—			1,282
(Loss) income before benefit (provision) for income taxes	(20,088		)	187,162			(2,492		)	—			164,582
Benefit (provision) for income taxes	7,810			(68,971		)	208			—			(60,953		)
Net (loss) income before equity in income (loss) of consolidated subsidiaries	(12,278		)	118,191			(2,284		)	—			103,629
Equity in income (loss) of consolidated subsidiaries	116,111			(2,080		)	—			(114,031		)	—
Net income (loss)	103,833			116,111			(2,284		)	(114,031		)	103,629
Net loss attributable to noncontrolling interests	—			—			204			—			204
Net income (loss) attributable to Vail Resorts, Inc.	$	103,833		$	116,111		$	(2,080	)	$	(114,031	)	$	103,833

SupplementalCondensedStatementofComprehensiveIncome [Text Block]

Statement of Comprehensive Income

For the three months ended April 30, 2015

(In thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Net income	$	133,410	$	135,810		$	229		$	(136,047	)	$	133,402
Foreign currency translation adjustments, net of tax	23		(23		)	(23		)	46			23
Comprehensive income	133,433		135,787			206			(136,001		)	133,425
Comprehensive loss attributable to noncontrolling interests	—		—			8			—			8
Comprehensive income attributable to Vail Resorts, Inc.	$	133,433	$	135,787		$	214		$	(136,001	)	$	133,433

Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss)

For the three months ended April 30, 2014

(In thousands)

(Unaudited)



	Parent Company		100% Owned Guarantor Subsidiaries		Other Subsidiaries			Eliminating Entries			Consolidated
Net income (loss)	$	117,946	$	122,088	$	(112	)	$	(122,056	)	$	117,866
Foreign currency translation adjustments, net of tax	85		85		85			(170		)	85
Comprehensive income (loss)	118,031		122,173		(27		)	(122,226		)	117,951
Comprehensive loss attributable to noncontrolling interests	—		—		80			—			80
Comprehensive income attributable to Vail Resorts, Inc.	$	118,031	$	122,173	$	53		$	(122,226	)	$	118,031

Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss)

For the nine months ended April 30, 2015

(In thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries		Other Subsidiaries			Eliminating Entries			Consolidated
Net income (loss)	$	184,896		$	168,361	$	(1,582	)	$	(166,897	)	$	184,778
Foreign currency translation adjustments, net of tax	(424		)	424		424			(848		)	(424		)
Comprehensive income (loss)	184,472			168,785		(1,158		)	(167,745		)	184,354
Comprehensive loss attributable to noncontrolling interests	—			—		118			—			118
Comprehensive income (loss) attributable to Vail Resorts, Inc.	$	184,472		$	168,785	$	(1,040	)	$	(167,745	)	$	184,472

Supplemental Consolidating Condensed Statement of Comprehensive Income (Loss)

For the nine months ended April 30, 2014

(In thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Eliminating Entries			Consolidated
Net income (loss)	$	103,833		$	116,111		$	(2,284	)	$	(114,031	)	$	103,629
Foreign currency translation adjustments, net of tax	(34		)	(34		)	(34		)	68			(34		)
Comprehensive income (loss)	103,799			116,077			(2,318		)	(113,963		)	103,595
Comprehensive loss attributable to noncontrolling interests	—			—			204			—			204
Comprehensive income (loss) attributable to Vail Resorts, Inc.	$	103,799		$	116,077		$	(2,114	)	$	(113,963	)	$	103,799

Supplemental Condensed Consolidating Statement Of Cash Flows

Supplemental Consolidating Condensed Statement of Cash Flows

For the nine months ended April 30, 2015

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Consolidated
Net cash provided by (used in) operating activities	$	109,692		$	285,406		$	(622	)	$	394,476
Cash flows from investing activities:
Capital expenditures	—			(84,941		)	(642		)	(85,583		)
Acquisition of business	—			(182,500		)	—			(182,500		)
Other investing activities, net	—			3,288			(14		)	3,274
Net cash used in investing activities	—			(264,153		)	(656		)	(264,809		)
Cash flows from financing activities:
Proceeds from borrowings under long-term debt	—			253,000			—			253,000
Payments of other long-term debt	—			(253,782		)	(231		)	(254,013		)
Dividends paid	(52,778		)	—			—			(52,778		)
Other financing activities, net	3,878			1,018			145			5,041
Advances	(60,792		)	60,792			—			—
Net cash (used in) provided by financing activities	(109,692		)	61,028			(86		)	(48,750		)
Effect of exchange rate changes on cash and cash equivalents	—			218			(327		)	(109		)
Net increase (decrease) in cash and cash equivalents	—			82,499			(1,691		)	80,808
Cash and cash equivalents:
Beginning of period	—			35,070			9,336			44,406
End of period	$	—		$	117,569		$	7,645		$	125,214

Supplemental Consolidating Condensed Statement of Cash Flows

For the nine months ended April 30, 2014

(in thousands)

(Unaudited)



	Parent Company			100% Owned Guarantor Subsidiaries			Other Subsidiaries			Consolidated
Net cash provided by operating activities	$	52,146		$	252,610		$	1,441		$	306,197
Cash flows from investing activities:
Capital expenditures	—			(107,208		)	(892		)	(108,100		)
Other investing activities, net	—			912			8			920
Net cash used in investing activities	—			(106,296		)	(884		)	(107,180		)
Cash flows from financing activities:
Payments of other long-term debt	—			(758		)	(219		)	(977		)
Dividends paid	(29,998		)	—			—			(29,998		)
Other financing activities, net	3,880			(3,891		)	743			732
Advances	(26,028		)	26,028			—			—
Net cash (used in) provided by financing activities	(52,146		)	21,379			524			(30,243		)
Effect of exchange rate changes on cash and cash equivalents	—			(21		)	74			53
Net increase in cash and cash equivalents	—			167,672			1,155			168,827
Cash and cash equivalents:
Beginning of period	—			130,970			7,634			138,604
End of period	$	—		$	298,642		$	8,789		$	307,431

Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Summary Of Changes In Stockholders Equity) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Balance, beginning of period			$ 834,800	$ 837,869
Net (loss) income	133,402	117,866	184,778	103,629
Stock-based compensation expense			11,718	10,539
Issuance of shares under share award plan net of shares withheld for taxes			(4,629)	(4,797)
Tax benefit from share award plan			3,864	3,738
Cash dividends paid on common stock			(52,778)	(29,998)
Contributions (distributions) from/to noncontrolling interests, net			145	169
Foreign currency translation adjustments	23	85	(424)	(34)
Balance, end of period	977,474	921,115	977,474	921,115
Total Vail Resorts, Inc. Stockholders' Equity [Member]
Balance, beginning of period			820,843	823,868
Net (loss) income			184,896	103,833
Stock-based compensation expense			11,718	10,539
Issuance of shares under share award plan net of shares withheld for taxes			(4,629)	(4,797)
Tax benefit from share award plan			3,864	3,738
Cash dividends paid on common stock			(52,778)	(29,998)
Contributions (distributions) from/to noncontrolling interests, net			0	0
Balance, end of period	963,490	907,149	963,490	907,149
Noncontrolling Interests [Member]
Balance, beginning of period			13,957	14,001
Net (loss) income			(118)	(204)
Stock-based compensation expense			0	0
Issuance of shares under share award plan net of shares withheld for taxes			0	0
Tax benefit from share award plan			0	0
Cash dividends paid on common stock			0	0
Contributions (distributions) from/to noncontrolling interests, net			145	169
Foreign currency translation adjustments			0	0
Balance, end of period	$ 13,984	$ 13,966	$ 13,984	$ 13,966

Net Income Per Common Share Net Loss per Common Share (Narrative) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended		0 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014	Jul. 10, 2015 Scenario, Forecast [Member]	Jun. 25, 2015 Scenario, Forecast [Member]	Jun. 05, 2015 Scenario, Forecast [Member]
Anti-dilutive securities (in shares)	15,000	4,000	5,000	11,000
Cash dividends declared per share	$ 0.6225	$ 0.4150	$ 1.4525	$ 0.8300			$ 0.6225
Dividends Payable, Date to be Paid					Jul. 10, 2015
Payments of Dividends	$ 22,634	$ 15,000	$ 52,778	$ 29,998
Dividends Payable, Date of Record						Jun. 25, 2015

Net Loss Per Common Share (Summary of Calculation of Basic and Diluted EPS) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Net income (loss) attributable to Vail Resorts, Inc.	$ 133,410	$ 117,946	$ 184,896	$ 103,833
Weighted-average shares outstanding, basic (in shares)	36,354	36,159	36,310	36,105
Weighted Average Number Diluted Shares Outstanding Adjustment	1,099	895	1,052	920
Weighted Average Number of Shares Outstanding, Diluted	37,453	37,054	37,362	37,025
Basic net income (loss) per share attributable to Vail Resorts, Inc.	$ 3.67	$ 3.26	$ 5.09	$ 2.88
Diluted net income (loss) per share attributable to Vail Resorts, Inc.	$ 3.56	$ 3.18	$ 4.95	$ 2.80

Long-Term Debt Long-Term Debt (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014	Jul. 31, 2014	May 01, 2015 Industrial Development Bonds [Member]	Apr. 30, 2015 Industrial Development Bonds [Member]	Jul. 31, 2014 Industrial Development Bonds [Member]	Apr. 30, 2014 Industrial Development Bonds [Member]
Gross interest expense	$ 13,700,000	$ 16,400,000	$ 41,100,000	$ 48,700,000
Long-term Debt	636,749,000	800,102,000	636,749,000	800,102,000	626,622,000	0	215,000,000	215,000,000	390,000,000
Amortization of deferred financing costs	400,000	500,000	1,100,000	1,500,000
Interest costs incurred, capitalized		$ 0		$ 0

Long-Term Debt (Schedule Of Debt Instruments) (Details) (USD $)	9 Months Ended				9 Months Ended			9 Months Ended							9 Months Ended				9 Months Ended						9 Months Ended				3 Months Ended
	Apr. 30, 2015	May 01, 2015	Jul. 31, 2014	Apr. 30, 2014	Apr. 30, 2015 Credit Facility Revolver [Member]	Jul. 31, 2014 Credit Facility Revolver [Member]	Apr. 30, 2014 Credit Facility Revolver [Member]	Apr. 30, 2015 Industrial Development Bonds [Member]	May 01, 2015 Industrial Development Bonds [Member]	Jul. 31, 2014 Industrial Development Bonds [Member]	Apr. 30, 2014 Industrial Development Bonds [Member]	Apr. 30, 2015 Employee Housing Bonds [Member]	Jul. 31, 2014 Employee Housing Bonds [Member]	Apr. 30, 2014 Employee Housing Bonds [Member]	Apr. 30, 2015 6.50% Notes [Member]	May 01, 2015 6.50% Notes [Member]	Jul. 31, 2014 6.50% Notes [Member]	Apr. 30, 2014 6.50% Notes [Member]	Apr. 30, 2015 Canyons Obligation [Member]	Jul. 31, 2014 Canyons Obligation [Member]	Apr. 30, 2014 Canyons Obligation [Member]	Apr. 30, 2015 Other [Member]	Jul. 31, 2014 Other [Member]	Apr. 30, 2014 Other [Member]	Apr. 30, 2015 Maximum [Member] Employee Housing Bonds [Member]	Apr. 30, 2015 Maximum [Member] Other [Member]	Apr. 30, 2015 Minimum [Member] Employee Housing Bonds [Member]	Apr. 30, 2015 Minimum [Member] Other [Member]	Jul. 31, 2015 Scenario, Forecast [Member]
Long-term Line of Credit		$ 250,000,000
Extinguishment of Debt, Amount								41,000,000							215,000,000
Debt Instrument, Redemption Date								May 01, 2015							May 01, 2015
Debt Instrument, Redemption Price, Percentage								104.00%							103.25%
Redemption Premium																													9,000,000
Total debt	636,749,000		626,622,000	800,102,000	0	0	0	41,200,000	0	41,200,000	41,200,000	52,575,000	52,575,000	52,575,000	215,000,000	0	215,000,000	390,000,000	316,056,000	311,858,000	310,472,000	11,918,000	5,989,000	5,855,000
Less: Current maturities	256,953,000		1,022,000	879,000
Long-term debt	379,796,000		625,600,000	799,223,000				41,200,000							215,000,000
Fiscal year maturity	2019				2019			2020							2019				2063
Fiscal year maturity, start																											Jun. 01, 2027	Jul. 31, 2015
Fiscal year maturity, end																									May 01, 2039	Jul. 31, 2029
Stated percentage in the debt instrument	6.50%														6.50%
Long term debt interest rate															6.50%
Write off of Deferred Debt Issuance Cost																													$ 2,400,000

Long-Term Debt (Schedule Of Aggregate Maturities For Debt Outstanding) (Details) (USD $)	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014	Jul. 31, 2014
Debt Instrument [Line Items]
Interest Expense, Debt	$ 13,700,000	$ 16,400,000	$ 41,100,000	$ 48,700,000
Amortization of Financing Costs	400,000	500,000	1,100,000	1,500,000
2013	256,319,000		256,319,000
2014	779,000		779,000
2015	854,000		854,000
2016	897,000		897,000
2017	955,000		955,000
Thereafter	376,945,000		376,945,000
Total debt	$ 636,749,000	$ 800,102,000	$ 636,749,000	$ 800,102,000	$ 626,622,000

Acquisitions (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended			3 Months Ended			9 Months Ended							9 Months Ended
Acquisitions (Narrative) (Details) (USD $)	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014	Jul. 31, 2014	Apr. 30, 2015 PCMR [Member]	Jan. 31, 2015 PCMR [Member]	Apr. 30, 2014 PCMR [Member]	Apr. 30, 2015 PCMR [Member]	Apr. 30, 2014 PCMR [Member]	Apr. 30, 2015 Perisher [Member]	Mar. 30, 2015 Perisher [Member]	Apr. 30, 2015 Canyons Obligation [Member]	Jul. 31, 2014 Canyons Obligation [Member]	Apr. 30, 2014 Canyons Obligation [Member]	Apr. 30, 2015 Australia, Dollars Perisher [Member]
Business Acquisition, Date of Acquisition Agreement											Mar. 30, 2015
Business Acquisition, Percentage of Voting Interests Acquired												100.00%
Goodwill, Purchase Accounting Adjustments							$ 13,000,000
Business Acquisition, Pro Forma Revenue								575,637,000	1,239,878,000	1,175,694,000
Business Acquisition, Effective Date of Acquisition									Sep. 11, 2014
Payments to Acquire Businesses, Net of Cash Acquired			182,500,000	0
Long-term Debt	636,749,000	800,102,000	636,749,000	800,102,000	626,622,000								316,056,000	311,858,000	310,472,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life									46 years
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual						35,400,000			63,800,000
Business Acquisition, Pro Forma Net Income (Loss)								127,625,000	185,565,000	113,179,000
Business Acquisition, Pro Forma Earnings Per Share, Basic								$ 3.53	$ 5.11	$ 3.13
Business Combination, Consideration Transferred									182,500,000							176,000,000
Gain (Loss) Related to Litigation Settlement	0	0	16,400,000	0					16,400,000
Fair value of litigation settlement									10,100,000
Business Combination, Consideration Transferred, Other									26,500,000
Park City litigation payment to Talisker			(10,000,000)	0					10,000,000
Business Acquisition, Transaction Costs									$ 800,000
Business Acquisition, Pro Forma Earnings Per Share, Diluted								$ 3.44	$ 4.97	$ 3.06
Lease Expiration Date											Jan. 01, 2048
Optional Lease Renewal Term											20-year renewal option

Acquisitions (Summary Of Estimate Of Fair Value Of Identifiable Assets Acquired And Liabilities Assumed) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015 PCMR [Member]	Sep. 11, 2014 PCMR [Member]
Business Acquisition [Line Items]
Business Acquisition, Purchase Price Allocation, Current Assets, Accounts Receivable				$ 1,024
Payments to Acquire Businesses, Net of Cash Acquired	182,500	0
Business Acquisition, Purchase Price Allocation, Current Assets, Other Current Assets				3,075
Business Acquisition, Purchase Price Allocation, Property Plant and Equipment Acquired				76,605
Business Acquisition, Purchase Price Allocation, Deferred Taxes Asset (Liab), Net, Noncurrent				7,444
Business Acquisition, Purchase Price Allocation, Real estate held for sale and investment				7,000
Business Acquisition, Purchase Price Allocation, Intangible Assets besides Goodwill				27,650
Goodwill, Acquired During Period	92,431
Business Acquisition, Purchase Price Allocation, Total Assets Acquired				215,229
Business Acquisition, Purchase Price Allocation, Current Liabilities, Trade Payables				1,960
Business Acquisitions, Purchase Price Allocation, Current Liabilities, Deferred Revenue				4,319
Business Acquisition, Purchase Price Allocation, Total Liabilities Assumed				6,279
Business Combination, Consideration Transferred			$ 208,950

Acquisitions (Summary Pro Forma Financial Information) (Details) (PCMR [Member], USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended	9 Months Ended
	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
PCMR [Member]
Pro Forma Financial Information [Line Items]
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 3.44	$ 4.97	$ 3.06
Pro forma net revenue	$ 575,637	$ 1,239,878	$ 1,175,694
Pro forma basic net income per share attributable to Vail Resorts, Inc.	$ 3.53	$ 5.11	$ 3.13
Business Acquisition, Pro Forma Net Income (Loss)	$ 127,625	$ 185,565	$ 113,179

Supplementary Balance Sheet Information (Composition Of Property, Plant And Equipment) (Details) (USD $) In Thousands, unless otherwise specified	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Balance Sheet Related Disclosures [Abstract]
Land and land improvements	$ 413,775	$ 348,328	$ 350,674
Buildings and building improvements	957,594	907,280	908,829
Machinery and equipment	777,011	700,745	701,825
Furniture and fixtures	284,403	269,209	273,202
Software	105,482	98,653	99,958
Vehicles	59,708	55,724	55,324
Construction in progress	20,245	31,487	19,453
Gross property, plant and equipment	2,618,218	2,411,426	2,409,265
Accumulated depreciation	(1,359,125)	(1,263,436)	(1,244,878)
Property, plant and equipment, net	$ 1,259,093	$ 1,147,990	$ 1,164,387

Supplementary Balance Sheet Information (Changes In Goodwill Amount) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Goodwill, beginning balance	$ 378,148	$ 378,220
Acquisition	(92,431)
Effects of changes in foreign currency exchange rates	(293)
Goodwill, ending balance	470,286	378,220
Mountain [Member]
Goodwill, beginning balance	310,249
Effects of changes in foreign currency exchange rates	(293)
Goodwill, ending balance	402,387
Lodging [Member]
Goodwill, beginning balance	67,899
Acquisition	0
Effects of changes in foreign currency exchange rates	0
Goodwill, ending balance	67,899
PCMR [Member] \| Mountain [Member]
Acquisition	$ (92,431)

Supplementary Balance Sheet Information (Components Of Accounts Payable And Accrued Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Balance Sheet Related Disclosures [Abstract]
Trade payables	$ 52,371	$ 71,823	$ 48,406
Deferred revenue	115,300	110,566	93,135
Accrued salaries, wages and deferred compensation	38,594	29,833	35,221
Accrued benefits	26,459	21,351	25,468
Deposits	18,199	15,272	17,772
Accrued interest	7,865	5,429	13,549
Other accruals	34,268	34,944	31,226
Total accounts payable and accrued liabilities	$ 293,056	$ 289,218	$ 264,777

Supplementary Balance Sheet Information (Components Of Other Long-Term Liabilities) (Details) (USD $) In Thousands, unless otherwise specified	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Balance Sheet Related Disclosures [Abstract]
Private club deferred initiation fee revenue	$ 128,295	$ 128,824	$ 130,543
Unfavorable lease obligation, net	29,325	31,338	32,034
Other long-term liabilities	78,312	100,519	77,357
Total other long-term liabilities	$ 235,932	$ 260,681	$ 239,934

Variable Interest Entities (Details) (USD $)	Apr. 30, 2015 entities
Employee Housing Entities [Member]
Number of Variable Interest Entities	4
Carrying amount of consolidated VIE assets	$ 26,800,000
Carrying amount of consolidated VIE liabilities	63,800,000
Amount outstanding in letters of credit	53,400,000
Avon Partners II LLC [Member]
Carrying amount of consolidated VIE assets	4,300,000
Carrying amount of consolidated VIE liabilities	$ 0

Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Jul. 31, 2014	Jul. 31, 2013
Business Combination, Contingent Consideration Arrangements, Description	42% of the amount by which EBITDA for the resort operations, as calculated under the lease, exceed approximately $35 million, as established at the transaction date, with such threshold amount subsequently increased annually by an inflation linked index and a 10% adjustment for any capital improvements or investments made under the lease by the Company (the "Contingent Consideration").
Contingent Consideration, Key Assumptions for Valuation	The fair value of Contingent Consideration includes the resort operations of Park City in the calculation of EBITDA on which participating contingent payments are made, and increases the EBITDA threshold before which participating contingent payments are made equal to 10% of the purchase price paid by the Company, plus future capital expenditures. The Company estimated the fair value of the Contingent Consideration payments using an option pricing valuation model. Key assumptions included a discount rate of 11.5%, volatility of 20.0%, and credit risk of 3.0%. The model also incorporates assumptions for EBITDA and capital expenditures, which are unobservable inputs and thus are considered Level 3 inputs.
Contingent Consideration, Fair Value Disclosure	$ 6,000	$ 9,100	$ 10,500	$ 9,100
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	4,500	0
Fair Value, Inputs, Level 3 [Member]
Contingent Consideration, Fair Value Disclosure	6,000	9,100	10,500
Money Market [Member]
Cash equivalents measured at fair value	7,578	78,851	9,022
Money Market [Member] \| Level 1 [Member]
Cash equivalents measured at fair value	7,578	78,851	9,022
Commercial Paper [Member]
Cash equivalents measured at fair value	2,401	630	630
Commercial Paper [Member] \| Level 2 [Member]
Cash equivalents measured at fair value	2,401	630	630
Certificates of Deposit [Member]
Cash equivalents measured at fair value	2,651	630	880
Certificates of Deposit [Member] \| Level 2 [Member]
Cash equivalents measured at fair value	$ 2,651	$ 630	$ 880

Commitments and Contingencies (Narrative) (Details) (USD $)	9 Months Ended
	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Holland Creek Metropolitan District [Member]
Credit-enhanced bonds issued amount	$ 8,000,000
Amount outstanding in letters of credit	8,100,000
Red Sky Ranch Metropolitan District [Member]
Other long-term liabilities	1,800,000	1,800,000	1,800,000
Estimated cessation date of capital improvement fee payment obligation	Jul. 31, 2029
Various Other [Member]
Amount outstanding in letters of credit	64,300,000
Employee Housing Bonds [Member]
Amount outstanding in letters of credit	53,400,000
Workers' Compensation and General Liability Related to Construction and Development Activities [Member]
Amount outstanding in letters of credit	$ 10,900,000

Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014	Jul. 31, 2014
Total Mountain net revenue	$ 499,551	$ 460,587	$ 1,022,968	$ 909,574
Lodging	67,323	66,293	185,180	179,694
Total Resort net revenue	566,874	526,880	1,208,148	1,089,268
Real Estate	12,469	16,167	29,694	29,890
Total net revenue	579,343	543,047	1,237,842	1,119,158
Mountain	244,675	233,301	645,593	601,587
Lodging	54,726	53,182	166,407	163,346
Total Resort operating expense	299,401	286,483	812,000	764,933
Real estate	14,028	18,445	35,513	35,682
Total segment operating expense	313,429	304,928	847,513	800,615
Gain (Loss) Related to Litigation Settlement	0	0	16,400	0
Gain on sale of real property	151	0	151	0
Mountain equity investment income, net	(129)	665	396	1,282
Total Reported EBITDA	265,936	238,784	407,276	319,825
Real estate held for sale and investment	137,740	170,818	137,740	170,818	157,858
Depreciation and amortization	(38,242)	(35,588)	(111,587)	(105,948)
Change in Fair Value of Contingent Consideration	0	0	4,550	0
Loss on disposal of fixed assets, net	(71)	634	(852)	(839)
Investment income, net	119	124	155	289
Interest expense, net	(13,735)	(16,408)	(41,110)	(48,745)
Income (loss) before (provision) benefit from income taxes	214,007	187,546	258,432	164,582
(Provision) benefit from income taxes	(80,605)	(69,680)	(73,654)	(60,953)
Net income (loss)	133,402	117,866	184,778	103,629
Net loss (income) attributable to noncontrolling interests	8	80	118	204
Net income (loss) attributable to Vail Resorts, Inc.	133,410	117,946	184,896	103,833
Lift Tickets [Member]
Total Mountain net revenue	285,249	251,914	524,537	447,271
Ski School [Member]
Total Mountain net revenue	66,216	62,512	123,511	109,442
Dining [Member]
Total Mountain net revenue	44,003	42,303	90,661	82,369
Retail/Rental [Member]
Total Mountain net revenue	71,078	73,785	195,563	188,401
Other [Member]
Total Mountain net revenue	33,005	30,073	88,696	82,091
Resort [Member]
Total Reported EBITDA	267,344	241,062	412,944	325,617
Mountain [Member]
Total Reported EBITDA	254,747	227,951	394,171	309,269
Lodging [Member]
Total Reported EBITDA	12,597	13,111	18,773	16,348
Real Estate [Member]
Total Reported EBITDA	$ (1,408)	$ (2,278)	$ (5,668)	$ (5,792)

Stock Repurchase Plan (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014	Jul. 31, 2014	Jul. 16, 2008	Mar. 09, 2006
Payments for Repurchase of Equity [Abstract]
Number of shares authorized to repurchase							3,000,000
Additional number of shares authorized to repurchase						3,000,000
Treasury Stock, Shares, Acquired	0	0	0	0
Number of shares repurchased since inception	4,949,111	4,949,111	4,949,111	4,949,111	4,949,111
Value of stock repurchased since inception	$ (193,192)	$ (193,192)	$ (193,192)	$ (193,192)	$ (193,192)
Remaining shares available for repurchase under existing program	1,050,889		1,050,889

Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Supplemental Condensed Consolidating Balance Sheet) (Details) (USD $) In Thousands, unless otherwise specified	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014	Jul. 31, 2013
Cash and cash equivalents	$ 125,214	$ 44,406	$ 307,431	$ 138,604
Restricted cash	13,139	13,181	13,057
Trade receivables, net	105,617	95,977	79,815
Inventories, net	62,167	67,183	60,409
Other Assets, Current	64,054	54,299	58,696
Total current assets	370,191	275,046	519,408
Property, plant and equipment, net	1,259,093	1,147,990	1,164,387
Real estate held for sale and investment	137,740	157,858	170,818
Goodwill, net	470,286	378,148	378,220
Intangible assets, net	141,127	117,523	118,507
Other assets	41,068	97,284	97,104
Investments in subsidiaries	0	0	0
Advances	0	0	0
Total assets	2,419,505	2,173,849	2,448,444
Accounts payable and accrued liabilities	293,056	289,218	264,777
Income taxes payable	36,161	33,966	39,043
Long-term debt due within one year	256,953	1,022	879
Total current liabilities	586,170	324,206	304,699
Advances to Affiliate	0	0	0
Advances To From Parent Liability	0	0	0
Long-term debt	379,796	625,600	799,223
Other long-term liabilities	235,932	260,681	239,934
Deferred income taxes	240,133	128,562	183,473
Total Vail Resorts, Inc. stockholders' equity (deficit)	963,490	820,843	907,149
Noncontrolling interests	13,984	13,957	13,966
Total stockholders' equity	977,474	834,800	921,115	837,869
Total liabilities and stockholders' equity	2,419,505	2,173,849	2,448,444
Parent Company [Member]
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0	0
Trade receivables, net	0	0	0
Inventories, net	0	0	0
Other Assets, Current	33,732	29,249	29,217
Total current assets	33,732	29,249	29,217
Property, plant and equipment, net	0	0	0
Real estate held for sale and investment	0	0	0
Goodwill, net	0	0	0
Intangible assets, net	0	0	0
Other assets	2,374	2,762	5,274
Investments in subsidiaries	2,112,937	1,945,001	2,046,019
Advances	0	0	0
Total assets	2,149,043	1,977,012	2,080,510
Accounts payable and accrued liabilities	7,262	3,803	13,014
Income taxes payable	36,161	33,966	39,043
Long-term debt due within one year	215,000	0	0
Total current liabilities	258,423	37,769	52,057
Advances to Affiliate	665,400	725,839	520,096
Advances To From Parent Liability	0	0	0
Long-term debt	0	215,000	390,000
Other long-term liabilities	21,211	48,875	27,673
Deferred income taxes	240,519	128,686	183,535
Total Vail Resorts, Inc. stockholders' equity (deficit)	963,490	820,843	907,149
Noncontrolling interests	0	0	0
Total stockholders' equity	963,490	820,843	907,149
Total liabilities and stockholders' equity	2,149,043	1,977,012	2,080,510
100% Owned Guarantor Subsidiaries [Member]
Cash and cash equivalents	117,569	35,070	298,642	130,970
Restricted cash	10,672	11,321	11,285
Trade receivables, net	102,290	94,390	77,108
Inventories, net	62,007	66,988	60,229
Other Assets, Current	30,016	24,736	28,961
Total current assets	322,554	232,505	476,225
Property, plant and equipment, net	1,219,273	1,105,830	1,121,251
Real estate held for sale and investment	137,740	157,858	170,818
Goodwill, net	468,922	376,491	376,491
Intangible assets, net	122,064	98,227	99,149
Other assets	43,639	100,365	97,136
Investments in subsidiaries	(8,625)	(7,188)	(4,984)
Advances	0	0	0
Total assets	2,305,567	2,064,088	2,336,086
Accounts payable and accrued liabilities	275,979	277,738	243,284
Income taxes payable	0	0	0
Long-term debt due within one year	41,709	791	648
Total current liabilities	317,688	278,529	243,932
Advances to Affiliate	4,027	2,621	3,379
Advances To From Parent Liability	(665,400)	(725,839)	(520,096)
Long-term debt	322,533	353,093	351,716
Other long-term liabilities	213,782	210,683	211,136
Deferred income taxes	0	0	0
Total Vail Resorts, Inc. stockholders' equity (deficit)	2,112,937	1,945,001	2,046,019
Noncontrolling interests	0	0	0
Total stockholders' equity	1,447,537	1,219,162	1,525,923
Total liabilities and stockholders' equity	2,305,567	2,064,088	2,336,086
Other Subsidiaries [Member]
Cash and cash equivalents	7,645	9,336	8,789	7,634
Restricted cash	2,467	1,860	1,772
Trade receivables, net	3,327	1,587	2,707
Inventories, net	160	195	180
Other Assets, Current	306	314	518
Total current assets	13,905	13,292	13,966
Property, plant and equipment, net	39,820	42,160	43,136
Real estate held for sale and investment	0	0	0
Goodwill, net	1,364	1,657	1,729
Intangible assets, net	19,063	19,296	19,358
Other assets	5,036	4,137	4,154
Investments in subsidiaries	0	0	0
Advances	4,027	2,621	3,379
Total assets	83,215	83,163	85,722
Accounts payable and accrued liabilities	9,815	7,677	8,479
Income taxes payable	0	0	0
Long-term debt due within one year	244	231	231
Total current liabilities	10,059	7,908	8,710
Advances to Affiliate	0	0	0
Advances To From Parent Liability	0	0	0
Long-term debt	57,263	57,507	57,507
Other long-term liabilities	10,920	11,103	10,585
Deferred income taxes	(386)	(124)	(62)
Total Vail Resorts, Inc. stockholders' equity (deficit)	(8,625)	(7,188)	(4,984)
Noncontrolling interests	13,984	13,957	13,966
Total stockholders' equity	5,359	6,769	8,982
Total liabilities and stockholders' equity	83,215	83,163	85,722
Eliminating Entries [Member]
Cash and cash equivalents	0	0	0
Restricted cash	0	0	0
Trade receivables, net	0	0	0
Inventories, net	0	0	0
Other Assets, Current	0	0	0
Total current assets	0	0	0
Property, plant and equipment, net	0	0	0
Real estate held for sale and investment	0	0	0
Goodwill, net	0	0	0
Intangible assets, net	0	0	0
Other assets	(9,981)	(9,980)	(9,460)
Investments in subsidiaries	(2,104,312)	(1,937,813)	(2,041,035)
Advances	(4,027)	(2,621)	(3,379)
Total assets	(2,118,320)	(1,950,414)	(2,053,874)
Accounts payable and accrued liabilities	0	0	0
Income taxes payable	0	0	0
Long-term debt due within one year	0	0	0
Total current liabilities	0	0	0
Advances to Affiliate	(669,427)	(728,460)	(523,475)
Advances To From Parent Liability	665,400	725,839	520,096
Long-term debt	0	0	0
Other long-term liabilities	(9,981)	(9,980)	(9,460)
Deferred income taxes	0	0	0
Total Vail Resorts, Inc. stockholders' equity (deficit)	(2,104,312)	(1,937,813)	(2,041,035)
Noncontrolling interests	0	0	0
Total stockholders' equity	(1,438,912)	(1,211,974)	(1,520,939)
Total liabilities and stockholders' equity	$ (2,118,320)	$ (1,950,414)	$ (2,053,874)

Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Supplemental Condensed Consolidating Statement Of Operations) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Total net revenue	$ 579,343	$ 543,047	$ 1,237,842	$ 1,119,158
Total operating expense	351,591	339,882	959,801	907,402
(Loss) income from operations	227,752	203,165	298,991	211,756
Other expense, net	(13,616)	(16,284)	(40,955)	(48,456)
Equity investment income, net	(129)	665	396	1,282
Gain (Loss) Related to Litigation Settlement	0	0	16,400	0
Change in Fair Value of Contingent Consideration	0	0	4,550	0
(Loss) income before benefit (provision) for income taxes	214,007	187,546	258,432	164,582
Benefit (provision) from income taxes	(80,605)	(69,680)	(73,654)	(60,953)
Net (loss) income before equity in income (loss) of consolidated subsidiaries	133,402	117,866	184,778	103,629
Equity in income (loss) of consolidated subsidiaries	0	0	0	0
Net income (loss)	133,402	117,866	184,778	103,629
Net loss (income) attributable to noncontrolling interests	8	80	118	204
Net income (loss) attributable to Vail Resorts, Inc.	133,410	117,946	184,896	103,833
Parent Company [Member]
Total net revenue	0	0	0	0
Total operating expense	64	106	285	286
(Loss) income from operations	(64)	(106)	(285)	(286)
Other expense, net	(3,593)	(6,600)	(10,871)	(19,802)
Equity investment income, net	0	0	0	0
Gain (Loss) Related to Litigation Settlement			0
Change in Fair Value of Contingent Consideration			0
(Loss) income before benefit (provision) for income taxes	(3,657)	(6,706)	(11,156)	(20,088)
Benefit (provision) from income taxes	1,257	2,564	27,691	7,810
Net (loss) income before equity in income (loss) of consolidated subsidiaries	(2,400)	(4,142)	16,535	(12,278)
Equity in income (loss) of consolidated subsidiaries	135,810	122,088	168,361	116,111
Net income (loss)	133,410	117,946	184,896	103,833
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Vail Resorts, Inc.	133,410	117,946	184,896	103,833
100% Owned Guarantor Subsidiaries [Member]
Total net revenue	577,461	539,704	1,235,712	1,113,141
Total operating expense	350,193	336,623	956,630	899,631
(Loss) income from operations	227,268	203,081	300,032	213,510
Other expense, net	(9,743)	(9,331)	(29,197)	(27,630)
Equity investment income, net	(129)	665	396	1,282
Gain (Loss) Related to Litigation Settlement			16,400
Change in Fair Value of Contingent Consideration			(4,550)
(Loss) income before benefit (provision) for income taxes	217,396	194,415	271,231	187,162
Benefit (provision) from income taxes	(81,823)	(72,295)	(101,406)	(68,971)
Net (loss) income before equity in income (loss) of consolidated subsidiaries	135,573	122,120	169,825	118,191
Equity in income (loss) of consolidated subsidiaries	237	(32)	(1,464)	(2,080)
Net income (loss)	135,810	122,088	168,361	116,111
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Vail Resorts, Inc.	135,810	122,088	168,361	116,111
Other Subsidiaries [Member]
Total net revenue	6,493	6,494	15,710	15,840
Total operating expense	5,907	6,266	16,352	17,194
(Loss) income from operations	586	228	(642)	(1,354)
Other expense, net	(318)	(391)	(1,001)	(1,138)
Equity investment income, net	0	0	0	0
Gain (Loss) Related to Litigation Settlement			0
Change in Fair Value of Contingent Consideration			0
(Loss) income before benefit (provision) for income taxes	268	(163)	(1,643)	(2,492)
Benefit (provision) from income taxes	(39)	51	61	208
Net (loss) income before equity in income (loss) of consolidated subsidiaries	229	(112)	(1,582)	(2,284)
Equity in income (loss) of consolidated subsidiaries	0	0	0	0
Net income (loss)	229	(112)	(1,582)	(2,284)
Net loss (income) attributable to noncontrolling interests	8	80	118	204
Net income (loss) attributable to Vail Resorts, Inc.	237	(32)	(1,464)	(2,080)
Eliminating Entries [Member]
Total net revenue	(4,611)	(3,151)	(13,580)	(9,823)
Total operating expense	(4,573)	(3,113)	(13,466)	(9,709)
(Loss) income from operations	(38)	(38)	(114)	(114)
Other expense, net	38	38	114	114
Equity investment income, net	0	0	0	0
Gain (Loss) Related to Litigation Settlement			0
Change in Fair Value of Contingent Consideration			0
(Loss) income before benefit (provision) for income taxes	0	0	0	0
Benefit (provision) from income taxes	0	0	0	0
Net (loss) income before equity in income (loss) of consolidated subsidiaries	0	0	0	0
Equity in income (loss) of consolidated subsidiaries	(136,047)	(122,056)	(166,897)	(114,031)
Net income (loss)	(136,047)	(122,056)	(166,897)	(114,031)
Net loss (income) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Vail Resorts, Inc.	$ (136,047)	$ (122,056)	$ (166,897)	$ (114,031)

Guarantor Subsidiaries And Non-Guarantor Subsidiaries Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Supplemental Condensed Consolidating Statements of Comprehensive Income) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2015	Apr. 30, 2014
Guarantor Obligations [Line Items]
Net income (loss)	$ 133,402	$ 117,866	$ 184,778	$ 103,629
Foreign currency translation adjustments	23	85	(424)	(34)
Comprehensive income (loss)	133,425	117,951	184,354	103,595
Comprehensive loss (income) attributable to noncontrolling interests	8	80	118	204
Comprehensive income (loss) attributable to Vail Resorts, Inc.	133,433	118,031	184,472	103,799
Parent Company [Member]
Guarantor Obligations [Line Items]
Net income (loss)	133,410	117,946	184,896	103,833
Foreign currency translation adjustments	23	85	(424)	(34)
Comprehensive income (loss)	133,433	118,031	184,472	103,799
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Vail Resorts, Inc.	133,433	118,031	184,472	103,799
100% Owned Guarantor Subsidiaries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	135,810	122,088	168,361	116,111
Foreign currency translation adjustments	(23)	85	424	(34)
Comprehensive income (loss)	135,787	122,173	168,785	116,077
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Vail Resorts, Inc.	135,787	122,173	168,785	116,077
Other Subsidiaries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	229	(112)	(1,582)	(2,284)
Foreign currency translation adjustments	(23)	85	424	(34)
Comprehensive income (loss)	206	(27)	(1,158)	(2,318)
Comprehensive loss (income) attributable to noncontrolling interests	8	80	118	204
Comprehensive income (loss) attributable to Vail Resorts, Inc.	214	53	(1,040)	(2,114)
Eliminating Entries [Member]
Guarantor Obligations [Line Items]
Net income (loss)	(136,047)	(122,056)	(166,897)	(114,031)
Foreign currency translation adjustments	46	(170)	(848)	68
Comprehensive income (loss)	(136,001)	(122,226)	(167,745)	(113,963)
Comprehensive loss (income) attributable to noncontrolling interests	0	0	0	0
Comprehensive income (loss) attributable to Vail Resorts, Inc.	$ (136,001)	$ (122,226)	$ (167,745)	$ (113,963)

Guarantor Subsidiaries And Non-Guarantor Subsidiaries (Supplemental Condensed Consolidating Statement Of Cash Flows) (Details) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014
Net cash (used in) provided by operating activities	$ 394,476	$ 306,197
Capital expenditures	(85,583)	(108,100)
Acquisition of businesses	(182,500)	0
Other investing activities, net	3,274	920
Net cash used in investing activities	(264,809)	(107,180)
Proceeds from Issuance of Other Long-term Debt	253,000	0
Repayments of Long-term Debt	(254,013)	(977)
Dividends paid	(52,778)	(29,998)
Other financing activities, net	5,041	732
Advances	0	0
Net cash provided by (used in) financing activities	(48,750)	(30,243)
Effect of exchange rate changes on cash and cash equivalents	(109)	53
Net increase (decrease) in cash and cash equivalents	80,808	168,827
Beginning of period	44,406	138,604
End of period	125,214	307,431
Parent Company [Member]
Net cash (used in) provided by operating activities	109,692	52,146
Capital expenditures	0	0
Acquisition of businesses	0
Other investing activities, net	0	0
Net cash used in investing activities	0	0
Proceeds from Issuance of Other Long-term Debt	0
Repayments of Long-term Debt	0	0
Dividends paid	(52,778)	(29,998)
Other financing activities, net	3,878	3,880
Advances	(60,792)	(26,028)
Net cash provided by (used in) financing activities	(109,692)	(52,146)
Effect of exchange rate changes on cash and cash equivalents	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Beginning of period	0	0
End of period	0	0
100% Owned Guarantor Subsidiaries [Member]
Net cash (used in) provided by operating activities	285,406	252,610
Capital expenditures	(84,941)	(107,208)
Acquisition of businesses	(182,500)
Other investing activities, net	3,288	912
Net cash used in investing activities	(264,153)	(106,296)
Proceeds from Issuance of Other Long-term Debt	253,000
Repayments of Long-term Debt	(253,782)	(758)
Dividends paid	0	0
Other financing activities, net	1,018	(3,891)
Advances	60,792	26,028
Net cash provided by (used in) financing activities	61,028	21,379
Effect of exchange rate changes on cash and cash equivalents	218	(21)
Net increase (decrease) in cash and cash equivalents	82,499	167,672
Beginning of period	35,070	130,970
End of period	117,569	298,642
Other Subsidiaries [Member]
Net cash (used in) provided by operating activities	(622)	1,441
Capital expenditures	(642)	(892)
Acquisition of businesses	0
Other investing activities, net	(14)	8
Net cash used in investing activities	(656)	(884)
Proceeds from Issuance of Other Long-term Debt	0
Repayments of Long-term Debt	(231)	(219)
Dividends paid	0	0
Other financing activities, net	145	743
Advances	0	0
Net cash provided by (used in) financing activities	(86)	524
Effect of exchange rate changes on cash and cash equivalents	(327)	74
Net increase (decrease) in cash and cash equivalents	(1,691)	1,155
Beginning of period	9,336	7,634
End of period	$ 7,645	$ 8,789

Income Taxes (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	9 Months Ended
	Dec. 31, 2007	Apr. 30, 2015
Income Tax Disclosure [Abstract]
Net Operating Loss Carryforwards Recognized	$ 8.0
Operating Loss Carryforward		73.8
Tax Refund on Amended Returns		6.2
Unrecognized Tax Benefits, Period Increase (Decrease)		27.7
Reduction in Federal Tax Liability		19.6
Tax Adjustments, Settlements, and Unusual Provisions		$ 23.8

Stock Repurchase Plan	9 Months Ended
Stock Repurchase Plan	Apr. 30, 2015
Payments for Repurchase of Equity [Abstract]
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 three and nine months ended April 30, 2015 and 2014, the Company did not repurchase any shares of common stock. Since inception of its stock repurchase program through April 30, 2015, the Company has repurchased 4,949,111 shares at a cost of approximately $193.2 million. As of April 30, 2015, 1,050,889 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.

Summary of Significant Accounting Policies (Narrative) (Details)	9 Months Ended
	Apr. 30, 2015
Debt Instrument, Year of Maturity	2019
Canyons Obligation [Member]
Debt Instrument, Year of Maturity	2063

Summary of Significant Accounting Policies (Summary Of Estimated Fair Value Of Financial Instruments) (Details) (USD $) In Thousands, unless otherwise specified	Apr. 30, 2015	Jul. 31, 2014	Apr. 30, 2014
Carrying value	$ 379,796	$ 625,600	$ 799,223
6.50% Notes [Member]
Carrying value	215,000
Fair value	221,988
Industrial Development Bonds [Member]
Carrying value	41,200
Fair value	42,848
Other Long-Term Debt [Member]
Carrying value	11,875
Fair value	$ 12,521