Vail resorts, inc. (MTN)
CashFlow / TTM
Jan'20Oct'19Jul'19Apr'19Jan'19Oct'18Jul'18Apr'18Jan'18Oct'17Jul'17Apr'17Jan'17Oct'16Jul'16Apr'16Jan'16Oct'15Jul'15Apr'15Jan'15Oct'14Jul'14Apr'14Jan'14Oct'13Jul'13Apr'13Jan'13Oct'12Jul'12Apr'12Jan'12Oct'11Jul'11Apr'11Jan'11Oct'10Jul'10Apr'10Jan'10Oct'09
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

323,418

324,390

323,493

328,003

291,748

322,431

401,230

427,773

352,354

263,409

231,718

227,682

188,363

145,506

149,454

144,570

120,435

119,264

114,610

109,355

93,819

37,319

28,206

43,725

23,447

24,776

37,610

43,689

25,630

11,522

16,391

16,301

13,612

21,748

34,422

46,153

45,704

36,226

35,775

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

233,493

224,919

218,117

211,871

210,715

206,881

204,462

203,053

198,978

197,200

189,157

181,011

172,454

163,369

161,488

158,249

155,019

151,854

149,123

146,240

143,586

142,414

140,601

139,809

137,951

135,165

132,688

131,163

130,698

130,330

127,581

124,257

121,929

119,155

117,957

116,815

113,690

111,186

110,638

0

0

0

Cost of real estate sales

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,724

19,640

29,014

32,115

32,190

37,823

39,916

37,702

37,400

24,429

22,280

29,548

32,076

39,837

38,427

33,865

34,912

33,631

35,268

44,712

168,267

0

0

0

-

-

-

-

Stock-based compensation expense

20,745

20,354

19,856

19,770

19,528

19,272

19,040

18,783

18,576

18,259

18,315

17,948

17,786

17,512

17,025

16,700

15,917

15,642

15,753

15,403

15,396

14,933

14,224

13,344

12,772

12,369

12,349

12,194

11,810

11,439

11,999

12,504

12,876

13,235

12,493

12,202

11,912

11,669

11,843

0

0

0

Deferred income taxes, net

13,708

10,263

22,419

43,475

23,237

-35,993

-45,770

-78,938

-51,589

28,346

36,437

27,818

22,987

10,691

7,626

29,914

24,584

14,171

12,968

60,061

39,267

12,509

6,219

-6,501

-16,367

-14,609

-8,125

22,464

15,402

8,047

9,243

24,162

19,455

23,921

32,194

11,316

2,509

-6,987

-4,427

0

0

0

Change in Fair Value of Contingent Consideration

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-3,650

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on litigation settlement

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,400

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Park City litigation settlement payment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-10,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real property

-

-

-

-

-

-

-

-

-

-

6,766

9,951

9,970

10,602

5,295

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,087

0

0

0

Other non-cash (income) expense, net

14,507

13,392

13,875

12,179

7,135

10,179

13,784

15,513

14,379

14,069

15,063

14,647

15,379

13,220

8,044

4,958

4,696

6,019

6,930

9,156

9,646

8,573

8,570

4,819

5,534

6,992

8,093

7,190

7,226

6,349

6,041

6,963

7,334

8,272

8,571

7,982

8,636

8,151

7,533

0

0

0

Changes in assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

3,669

-4,767

-627

-6,966

-7,204

-6,745

-7,716

-162

0

0

0

-

-

-

-

-

-

-

-

1,733

545

321

703

424

996

188

-704

769

0

0

0

Trade receivables, net

13,294

8,344

35,406

48,311

2,647

-11,856

44,261

95,762

-135,954

-155,782

36,291

-21,357

129,241

185,596

32,991

35,562

16,396

14,192

15,350

23,946

10,661

-191

17,007

5,183

1,996

3,120

11,715

8,041

-181

-2,655

2,577

13,756

-6,056

-6,035

1,638

7,115

4,785

-2,763

-5,687

0

0

0

Inventories, net

7,113

9,230

7,274

1,402

3,820

3,766

963

-27,343

5,194

37,612

-8,086

19,348

-6,159

-43,259

843

1,827

1,209

2,183

1,304

1,377

22

-1,631

-1,332

-2,040

287

2,258

105

3,415

6,053

7,950

10,853

9,128

6,907

10,423

2,758

750

1,127

27,297

-652

0

0

0

Investments in real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-1,817

-1,720

-1,543

-2,160

-2,734

-15,522

-15,810

-24,920

-44,808

-68,508

-116,770

-166,446

0

0

0

Accounts payable and accrued liabilities

-2,914

11,390

23,296

38,411

25,814

-5,177

1,879

-15,868

6,117

-3,737

-22,119

-21,104

-50,841

-93,705

16,025

60

-13,379

7,147

4,498

20,195

49,655

6,828

20,724

7,869

32,931

29,199

19,774

16,312

9,827

-4,341

-2,515

33,677

-17,982

13,451

-23,223

-40,111

-3,801

-14,177

-12,547

0

0

0

Deferred revenue

60,398

62,498

35,628

28,247

37,828

41,982

42,007

44,576

33,124

79,839

24,217

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable - excess tax benefit from share award exercises

11,039

10,885

12,932

21,494

22,707

23,855

71,077

54,827

55,663

55,392

9,878

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income taxes payable - other

39,126

36,789

38,773

30,150

33,076

36,635

38,453

60,458

58,738

40,466

27,954

34,699

35,829

46,900

62,220

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred real estate deposits

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,139

43,326

41,960

30,250

11,573

0

0

0

Other assets and liabilities, net

-10,325

-6,904

-8,743

-17

739

-1,262

-1,249

-12,138

-3,488

12,204

-5,417

-240

-10,967

-20,252

-6,888

-1,010

8,788

18,313

21,614

10,410

6,112

-5,819

-1,866

-3,226

2,881

4,628

1,710

1,548

-4,953

-4,847

-11,477

-11,948

-4,294

3,715

1,811

5,336

-1,884

-9,483

-11,291

0

0

0

Net cash provided by operating activities

665,739

666,489

634,231

633,419

620,919

570,160

548,486

557,449

574,838

569,363

470,983

475,747

457,402

419,433

436,977

364,611

338,943

353,752

303,660

334,157

345,442

241,064

245,878

237,275

221,400

217,139

222,423

242,719

223,674

181,661

185,419

209,987

160,971

187,449

267,287

270,584

265,524

199,074

35,950

0

0

0

Cash flows from investing activities:
Capital expenditures

200,292

196,775

192,035

181,193

166,775

151,043

140,611

138,910

138,363

135,838

144,432

132,766

125,436

130,203

109,237

126,608

127,101

121,205

123,884

95,788

98,554

99,310

118,305

137,585

130,430

105,790

94,946

90,087

97,726

117,529

132,625

130,070

126,939

109,742

95,640

93,725

94,599

85,105

68,957

0

0

0

Acquisition of businesses, net of cash acquired

453,989

453,747

419,044

419,044

292,610

292,878

1,356

36,052

36,052

36,052

547,044

512,348

512,348

532,593

20,245

144,796

144,796

124,551

307,051

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

62,344

0

0

0

-

-

-

-

Cash Received From Sale Of Property

-

-

-

-

-

-

-

-

-

-

-

11,356

11,434

12,236

7,386

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,920

0

0

0

Other investing activities, net

-16,825

-18,397

-15,045

-13,586

-2,762

-2,331

-7,388

-15,361

-14,988

-19,431

-14,816

-7,465

-4,034

1,563

1,920

4,790

-939

-878

-1,326

-2,753

-954

-928

-399

4,365

4,521

4,579

4,424

-1,955

-1,300

-541

-150

783

852

414

204

95

7,667

7,354

7,645

0

0

0

Net cash used in investing activities

-637,456

-632,125

-596,034

-586,651

-457,138

-441,590

-134,579

-167,293

-166,604

-160,151

-676,660

-626,293

-622,316

-652,123

-124,016

-269,931

-264,773

-239,495

-427,068

-275,535

-280,100

-280,882

-117,906

-130,860

-123,861

-119,237

-108,238

-108,090

-140,205

-140,467

-155,954

-156,148

-129,265

-111,972

-158,188

-170,218

-178,664

-168,857

-83,552

0

0

0

Cash flows from financing activities:
Proceeds from borrowings under Vail Holdings Credit Agreement

700,625

700,625

543,625

465,625

465,625

465,625

225,000

145,000

145,000

145,000

669,375

829,375

829,375

829,375

210,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under Vail Holdings Credit Agreement revolver

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

320,000

300,000

295,000

438,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under Whistler Credit Agreement

18,851

18,851

26,518

42,260

42,260

42,260

46,513

26,608

26,608

28,837

16,917

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from borrowings under Credit Facility Revolver

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

189,000

0

0

0

-

-

-

-

Repayments of borrowings under Vail Holdings Credit Agreement

0

0

-

0

0

0

-

0

0

0

-

0

0

312,500

-

320,000

235,500

280,500

253,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayments of borrowings under Whistler Credit Agreement

52,730

52,589

45,060

45,060

73,994

74,860

91,941

91,941

65,456

70,970

53,889

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Employee taxes paid for share award exercises

25,548

24,717

27,239

42,540

44,059

45,961

104,077

74,081

74,975

74,231

16,275

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividends paid

283,903

272,111

260,567

249,046

237,649

221,105

204,161

186,881

169,689

159,448

146,235

133,340

120,386

110,571

103,835

97,258

90,586

83,099

75,506

67,801

60,176

52,593

45,021

37,455

29,890

29,122

28,362

27,595

26,906

25,549

24,249

0

0

0

-

-

-

-

-

-

-

-

Proceeds from borrowings under long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Payments of other long-term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

226,861

246,768

246,188

193,371

106,309

0

0

0

Payments for Repurchase of Common Stock

21,400

56,400

85,000

85,000

110,800

75,800

25,800

0

0

0

-

-

-

-

53,787

53,787

40,000

40,000

0

0

0

0

-

-

-

-

-

-

-

-

30,365

0

0

0

-

-

-

-

-

-

-

-

Other financing activities, net

-20,859

-20,003

-16,210

-14,531

-14,336

-13,246

-13,749

-13,484

-10,619

-11,386

-941

2,198

2,513

6,660

5,780

11,415

11,032

11,621

11,957

3,116

2,779

1,274

-1,193

1,537

1,482

2,324

7,583

7,144

7,955

7,151

2,144

4,890

4,343

1,955

1,971

-964

570

4,207

4,395

0

0

0

Net cash used in financing activities

-64,383

-37,013

-99,558

-161,417

-233,578

-126,212

-350,715

-403,079

-301,841

-364,908

255,617

278,389

259,056

298,063

-281,432

-151,067

-63,843

-102,925

115,251

-240,719

-233,931

-44,570

-222,212

-36,917

-28,975

-27,809

-21,790

-43,986

-42,560

-41,946

-53,522

-75,321

-33,315

-50,317

-53,701

17,083

-47,617

-23,658

-6,951

0

0

0

Effect of exchange rate changes on cash, cash equivalents and restricted cash

-2,775

-34

-5,290

-5,863

-9,906

-6,328

-5,814

83

5,678

-95

3,779

-590

1,399

1,772

909

-262

-1,537

-1,566

-790

-120

-109

3

42

198

133

147

156

-18

28

-1

-33

0

0

0

-

-

-

-

-

-

-

-

Net increase (decrease) in cash, cash equivalents and restricted cash

-38,875

-2,683

-66,651

-120,512

-79,703

-3,970

57,378

-12,840

112,071

44,209

53,719

127,253

95,541

67,145

32,438

-56,649

8,790

9,766

-8,947

-182,217

-168,698

-84,385

-94,198

69,696

68,697

70,240

92,551

90,625

40,937

-753

-24,090

-21,486

-1,609

25,160

55,398

117,449

39,243

6,559

-54,553

0

0

0

Accrued capital expenditures

7,671

17,407

18,420

21,277

26,272

23,375

15,638

13,373

15,626

22,399

14,631

19,593

22,944

9,182

16,267

7,811

6,676

20,479

6,267

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures made under long-term financing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7,037

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-