Churchill Downs Inc CHDN Cash Flow

Churchill downs inc (CHDN)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net (loss) income
102,100	137,200	144,900	186,400	182,400	352,800	379,600	340,000	315,200	140,500	129,100	121,100	112,600	108,100	88,800	84,300	69,600	65,200	43,936	43,267	45,500	46,400	54,459	60,177	53,142	54,900	62,979	59,703	57,981	58,276	63,515	77,322	68,893	64,355	0	0	0
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization
97,600	96,400	82,100	76,800	70,600	63,600	69,600	76,900	86,400	97,100	100,500	104,000	106,100	108,600	109,000	108,900	109,300	109,700	102,076	91,956	80,416	68,300	64,252	62,768	61,999	61,750	60,607	58,181	56,828	55,600	54,666	54,739	54,991	55,170	0	0	0
Distributions from unconsolidated affiliates
33,400	38,100	30,100	21,400	21,300	19,800	20,700	19,200	18,200	18,000	15,000	16,100	15,900	15,600	16,500	15,900	15,700	15,200	11,000	7,500	3,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition-related charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Sale of Equity Investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,800	5,800	5,800	5,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Equity in loss (income) of unconsolidated affiliates
43,200	50,600	32,900	27,900	27,200	29,600	27,200	27,000	25,900	25,500	26,600	22,600	19,700	17,400	16,500	13,900	12,000	11,200	8,647	7,404	7,010	6,300	3,393	1,449	-1,688	-4,142	-2,128	-1,712	-1,645	-1,701	-1,945	-1,941	-917	-1,113	0	0	0
Unrealized gain on derivative instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,096	0	0	0
Stock-based compensation
23,400	23,800	22,200	20,600	19,600	21,100	26,100	28,000	28,400	27,100	22,100	21,200	19,700	18,900	17,500	17,100	15,200	13,800	11,933	9,646	9,359	11,900	16,500	20,277	23,378	21,500	17,097	12,776	9,052	7,613	7,282	6,979	5,924	5,531	0	0	0
Loss on impairment of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	511	0	0	0
Game technology and rights amortization
-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition expenses, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	7,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of Big Fish Games
-	-	-	-	-	219,500	219,500	219,500	219,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Big Fish Games earnout payment
-	-	-	-	-	-	-	-	-	-	0	0	2,500	-	19,700	19,700	19,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Big Fish Games earnout and deferred payments
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
39,800	31,500	39,200	31,300	32,200	36,500	-102,700	-71,900	-67,100	-65,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of intangible assets
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of operating lease assets
0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on asset disposals
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-
Other
-3,300	-2,800	-2,200	-1,800	-2,000	1,600	3,400	4,600	4,300	600	-1,400	-2,600	-1,800	-2,000	-4,600	-4,200	-4,800	-4,600	-1,742	-1,798	-951	-600	-592	-570	-594	-689	-757	-876	-926	-910	-1,058	-908	-2,446	-2,489	0	0	0
Changes in operating assets and liabilities, net of business acquisitions and dispositions:
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-8,296	-4,590	-11,609	-9,178	-9,744	-25,358	-16,122	-18,342	0	0	0
Accounts receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	1,378	2,403	9,512	5,396	14,732	12,754	2,329	407	0	0	0
Other current assets and liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	900	6,700	5,700	15,300	2,654	-13,281	3,717	3,300	1,181	-721	-1,459	-1,372	1,973	11,418	4,765	3,075	-5,205	-12,384	-1,084	-3,235	0	0	0
Game software development
-	-	-	-	-	-	-	-	-	22,100	22,900	23,300	23,200	22,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Software development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes
-8,500	2,500	-1,900	-9,600	-38,300	13,800	-20,700	-22,100	18,400	-27,400	-10,200	7,600	5,700	-6,600	18,500	2,200	6,800	28,500	17,818	23,333	10,170	200	154	-819	-4,533	-11,023	-2,080	-1,466	194	764	-7,416	7,891	2,942	7,995	0	0	0
Accounts payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	8,876	13,376	5,655	3,459	14,613	12,005	14,397	14,447	0	0	0
Purses payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-9,935	-10,136	-13,675	-10,148	-7,247	4,217	10,699	7,301	0	0	0
Accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	6,393	5,524	6,405	9,923	5,074	-8	-247	2,441	0	0	0
Deferred revenue
-2,100	-9,300	-2,700	-3,500	100	-10,300	1,000	8,400	10,600	17,200	-2,000	-12,800	6,400	17,900	17,500	33,700	36,300	38,300	38,697	26,843	23,401	600	-1,668	-3,544	1,750	6,029	-607	-405	7,400	8,804	-6,177	-6,734	4,641	3,633	0	0	0
Other assets and liabilities
-10,300	-12,600	-44,700	3,100	4,300	-6,000	2,900	-24,900	100	4,100	-5,300	-17,400	17,400	900	7,400	5,100	-100	0	-4,962	-1,609	-1,889	-1,700	-2,073	-2,237	-933	-656	3,874	5,024	3,615	3,067	-1,779	-17,236	-16,225	-16,549	0	0	0
Net cash provided by operating activities
262,800	289,600	322,600	249,800	212,200	197,800	183,300	209,000	205,700	215,100	209,600	233,000	230,100	231,400	230,300	237,100	241,400	264,500	250,555	216,712	179,369	141,600	144,787	163,739	150,131	144,915	156,362	148,312	135,704	144,098	143,655	164,236	167,629	172,995	0	0	0
Cash flows from investing activities:
Capital maintenance expenditures
43,400	48,300	47,400	42,100	36,000	29,600	26,500	29,100	30,600	33,300	33,400	32,500	33,200	30,900	24,500	24,700	29,200	31,100	4,646	6,925	12,331	22,700	67,767	63,474	55,246	48,771	45,700	48,597	45,872	41,298	0	0	0	-	-	-	-
Capital project expenditures
108,000	82,900	67,500	93,700	107,500	119,800	126,800	96,200	82,800	83,600	66,300	51,700	42,600	23,800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Acquisition of businesses, net of cash acquired
35,300	206,600	172,100	159,000	158,200	-13,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	142,915	0	0	0	-	-	-	-
Investments in and advances to unconsolidated affiliates
300	410,100	410,100	410,100	409,800	0	0	0	0	24,000	32,000	32,000	32,000	8,000	0	0	0	-	-	-	-	18,500	52,875	64,500	73,500	70,500	40,325	26,950	19,075	19,850	0	0	0	-	-	-	-
Deferred payments to Big Fish Games former equity holders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of Big Fish Games
-	-	-	-	-	970,700	970,700	970,700	970,700	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,400	-	6,000	6,000	6,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of minority investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-550	-810	-810	-902	-686	-918	-1,036	-2,153	0	0	0	-	-	-	-
Assumption of note receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Proceeds from sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	936	101	101	15	749	747	768	833	93	97	74	55	0	0	0
Receivable from escrow
-	-	-	-	-	-	-	-	-	-13,600	0	0	3,500	13,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
-8,700	1,200	2,000	3,300	20,200	10,300	0	0	0	-	-	-	-	-	-	-	-	-3,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from insurance recoveries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-10,505	0	0	0	-	-	-	-
Change in deposit wagering asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	4,257	6,788	3,073	1,010	0	0	0
Net cash used in investing activities
-210,400	-781,200	-715,400	-722,200	-731,700	824,100	819,900	836,100	834,500	-153,600	-129,100	-112,400	-87,100	-50,700	-83,300	-83,100	-75,400	-65,500	-408,873	-413,140	-418,544	-440,300	-116,565	-280,316	-284,733	-277,680	-382,156	-211,658	-194,083	-197,128	-43,698	-40,928	-44,643	-26,878	0	0	0
Cash flows from financing activities:
Common stock issued
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	7,400	7,475	5,416	1,150	1,135	1,352	2,205	6,039	6,377	0	0	0	-	-	-	-
Proceeds from borrowings under long-term debt obligations
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	920,700	-	870,021	784,046	787,533	805,000	415,845	600,029	729,811	740,131	904,339	722,659	578,500	554,248	381,444	345,323	326,880	320,181	0	0	0
Repayments of borrowings under long-term debt obligations
39,800	640,300	645,300	657,000	670,000	381,000	1,642,800	1,802,900	1,987,000	1,835,800	728,900	683,800	694,100	588,400	847,400	938,100	926,600	985,800	666,221	539,053	453,491	403,800	657,235	684,715	851,380	880,667	649,555	632,139	498,943	472,083	467,717	467,319	441,989	457,736	0	0	0
Change in bank overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	2,486	595	163	555	-7,840	-67	635	-188	0	0	0
Payment of dividends
23,400	22,200	22,400	22,400	22,200	23,700	23,200	23,200	23,400	21,500	21,800	21,800	21,800	19,100	19,100	19,100	19,100	17,400	17,414	17,414	17,414	15,200	15,186	15,186	15,186	0	12,351	12,351	12,351	22,461	10,110	10,110	10,110	8,165	0	0	0
Repurchase of common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock
96,900	95,000	96,400	75,100	43,500	531,400	501,600	501,700	686,700	180,900	200,100	202,400	46,800	39,000	160,400	159,300	143,500	147,600	0	0	0	-	-	-	-	10,723	8,188	7,107	5,833	5,094	3,422	2,896	1,425	1,308	0	0	0
Cash settlement of stock awards
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes paid related to net share settlement of stock awards
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Big Fish Games earnout and deferred payments
-	-	-	-	-	58,200	31,900	31,900	31,900	31,800	58,100	58,100	58,100	288,300	261,900	261,900	261,900	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
2,300	8,900	9,700	9,400	8,300	800	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Big Fish Games deferred payment
-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax refund payments to Big Fish Games equity holders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,700	11,800	11,800	11,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,800	-	4,996	6,335	7,870	7,700	7,691	6,324	5,611	2,981	2,782	1,889	964	1,407	0	0	0	-	-	-	-
Loan origination fees and debit issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,000	-	1,930	1,930	1,997	2,100	-9,376	-9,374	-7,454	-7,508	1,971	1,969	-18	-67	0	0	0	-	-	-	-
Other
4,600	2,400	-400	-800	-700	-2,900	-3,900	-7,600	-2,500	600	3,800	4,400	600	5,000	3,200	4,700	7,800	5,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in deposit wagering liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	3,739	6,740	3,002	802	0	0	0
Net cash provided by financing activities
534,700	460,800	456,700	423,400	443,400	-933,300	-926,900	-823,100	-886,300	-59,500	-73,600	-132,300	-143,800	-201,900	-140,300	-158,200	-164,600	-190,600	168,785	210,666	243,519	322,000	-29,932	124,330	142,478	140,296	239,546	70,476	68,785	62,882	-96,841	-122,552	-121,452	-145,693	0	0	0
Net increase in cash, cash equivalents and restricted cash
587,100	-30,800	63,900	-49,000	-76,100	88,600	0	0	0	-	-	-11,700	-800	-21,200	6,700	-4,200	1,400	8,400	10,467	14,238	4,344	23,300	-1,710	7,753	7,876	7,531	13,752	7,130	10,406	9,852	3,116	756	1,534	424	0	0	0
Effect of exchange rate changes on cash
-	-	-	-	-	-800	-1,300	-700	400	500	1,600	300	-100	0	-900	100	200	-1,800	-1,400	-1,700	-2,000	-100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Interest
59,500	61,700	45,300	46,200	45,300	31,100	48,200	34,600	49,500	47,500	43,600	41,800	41,500	40,000	31,600	31,200	23,100	25,200	23,822	22,411	20,319	17,500	10,263	10,871	3,409	4,032	3,914	3,479	3,096	2,856	2,605	3,199	4,307	5,521	0	0	0
State tax credits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0	-	-	-	-
Income taxes
23,500	23,500	16,700	26,200	48,900	48,600	75,900	90,600	75,800	75,900	58,800	39,200	30,500	32,400	33,600	43,200	43,600	41,500	29,544	17,388	17,052	17,000	27,332	30,800	31,346	31,324	23,569	24,505	24,191	24,462	32,102	24,096	23,879	24,785	0	0	0
Schedule of non-cash investing and financing activities:
Issuance of common stock in connection with the Company's restricted stock plans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	28,800	-	22,709	16,257	18,500	3,000	1,209	7,197	4,504	30,678	32,584	26,773	26,523	5,459	0	0	0	-	-	-	-
Deferred tax liability assumed from equity investment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment additions included in accounts payable and accrued expenses
45,200	12,400	5,400	-8,500	4,000	6,600	15,400	31,500	15,900	9,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of common stock in payment of income taxes on stock-based compensation included in accrued expense and other current liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of Ocean Downs, net of cash acquired
-	-	-	-	-	115,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fair Value of Assets Acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Liabilities Assumed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Fair value of earn-out liability and accrued purchase price
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-