Exhibit 99.2
(In thousands) | ||||||
Twelve | ||||||
Months Ended | ||||||
October 31, | ||||||
2008 | ||||||
Mountain Reported EBITDA | $ | 217,573 | ||||
Lodging Reported EBITDA | 8,499 | |||||
Resort Reported EBITDA* | 226,072 | |||||
Real Estate Reported EBITDA | 56,189 | |||||
Total Reported EBITDA | 282,261 | |||||
Depreciation and amortization | (98,111 | ) | ||||
Loss on disposal of fixed assets, net | (1,480 | ) | ||||
Investment income, net | 5,710 | |||||
Interest expense, net | (30,970 | ) | ||||
Minority interest in income of consolidated subsidiaries, net | (4,632 | ) | ||||
Income before provision for income taxes | 152,778 | |||||
Provision for income taxes | (59,745 | ) | ||||
Net income | $ | 93,033 | ||||
* Resort represents the sum of Mountain and Lodging |
(In thousands) | ||||||
As of | ||||||
October 31, | ||||||
2008 | ||||||
Long-term debt | $ | 491,778 | ||||
Long-term debt due within one year | 354 | |||||
Total debt | 492,132 | |||||
Less: cash and cash equivalents | 102,668 | |||||
Net debt | $ | 389,464 | ||||
Net debt to Total Reported EBITDA | 1.38 |