| 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, | | | 2021 | | 2020 | | 2021 | | 2020 | | Net revenue: | | | | | | | | | Lift | $ | 577,680 | | | $ | 374,818 | | | $ | 1,041,546 | | | $ | 900,995 | | | Ski school | 80,390 | | | 76,563 | | | 138,824 | | | 187,840 | | | Dining | 45,294 | | | 61,632 | | | 80,172 | | | 158,980 | | | Retail/rental | 91,286 | | | 78,133 | | | 203,718 | | | 259,761 | | | Other | 34,533 | | | 44,158 | | | 101,092 | | | 154,105 | | | Total Mountain net revenue | 829,183 | | | 635,304 | | | 1,565,352 | | | 1,661,681 | | | Lodging | 59,095 | | | 58,385 | | | 138,787 | | | 220,030 | | | Total Resort net revenue | 888,278 | | | 693,689 | | | 1,704,139 | | | 1,881,711 | | | Real Estate | 800 | | | 398 | | | 1,369 | | | 4,784 | | | Total net revenue | $ | 889,078 | | | $ | 694,087 | | | $ | 1,705,508 | | | $ | 1,886,495 | | | Segment operating expense: | | | | | | | | | Mountain | $ | 372,205 | | | $ | 333,785 | | | $ | 917,355 | | | $ | 1,068,479 | | | Lodging | 54,862 | | | 55,460 | | | 149,468 | | | 208,545 | | | Total Resort operating expense | 427,067 | | | 389,245 | | | 1,066,823 | | | 1,277,024 | | | Real Estate | 2,023 | | | 1,128 | | | 5,088 | | | 7,926 | | | Total segment operating expense | $ | 429,090 | | | $ | 390,373 | | | $ | 1,071,911 | | | $ | 1,284,950 | | |
| Gain on sale of real property | $ | 189 | | | $ | — | | | $ | 189 | | | $ | 207 | | | Mountain equity investment income (loss), net | $ | 1,011 | | | $ | (90) | | | $ | 6,177 | | | $ | 1,270 | | | Reported EBITDA: | | | | | | | | | Mountain | $ | 457,989 | | | $ | 301,429 | | | $ | 654,174 | | | $ | 594,472 | | | Lodging | 4,233 | | | 2,925 | | | (10,681) | | | 11,485 | | | Resort | 462,222 | | | 304,354 | | | 643,493 | | | 605,957 | | | Real Estate | (1,034) | | | (730) | | | (3,530) | | | (2,935) | | | Total Reported EBITDA | $ | 461,188 | | | $ | 303,624 | | | $ | 639,963 | | | $ | 603,022 | | |
| Real estate held for sale and investment | $ | 96,259 | | | $ | 96,565 | | | $ | 96,259 | | | $ | 96,565 | | |
| Reconciliation from net income attributable to Vail Resorts, Inc. to Total Reported EBITDA: | | | | | | | | | Net income attributable to Vail Resorts, Inc. | $ | 274,629 | | | $ | 152,546 | | | $ | 268,661 | | | $ | 252,441 | | | Net income attributable to noncontrolling interests | 2,661 | | | 7,285 | | | 738 | | | 14,579 | | | Net income | 277,290 | | | 159,831 | | | 269,399 | | | 267,020 | | | Provision for income taxes | 76,897 | | | 26,440 | | | 66,640 | | | 47,190 | | | Income before provision for income taxes | 354,187 | | | 186,271 | | | 336,039 | | | 314,210 | | | Depreciation and amortization | 64,071 | | | 64,730 | | | 189,362 | | | 186,387 | | | Asset impairments | — | | | 28,372 | | | — | | | 28,372 | | | Change in estimated fair value of contingent consideration | 10,400 | | | (8,000) | | | 12,202 | | | (5,264) | | | (Gain) loss on disposal of fixed assets and other, net | (1,999) | | | 380 | | | 762 | | | (1,178) | | | Investment income and other, net | (347) | | | (361) | | | (857) | | | (999) | | | Foreign currency (gain) loss on intercompany loans | (4,157) | | | 7,753 | | | (9,832) | | | 8,191 | | | Interest expense, net | 39,033 | | | 24,479 | | | 112,287 | | | 73,303 | | | Total Reported EBITDA | $ | 461,188 | | | $ | 303,624 | | | $ | 639,963 | | | $ | 603,022 | | |
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