Churchill Downs Inc CHDN Income Statement

Churchill downs inc (CHDN)

Income statement / Quarterly

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	Sep'10	Jun'10
Net revenue:
Corporate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	300	300	200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total net revenue
252,900	280,600	306,300	477,400	265,400	219,000	221,300	379,400	189,300	178,900	196,900	339,300	167,500	-207,900	303,400	438,500	288,400	-141,300	279,800	409,200	250,900	168,104	173,483	303,472	167,141	162,062	185,496	283,594	147,876	157,407	164,877	270,816	138,196	149,265	166,349	249,686	131,554	147,546	215,395
Operating expense:
Corporate
-	-	-	-	-	-	-	-	-	-	600	600	600	300	500	400	600	-2,200	500	800	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Selling, general and administrative expense
24,100	32,600	34,400	30,100	24,900	27,200	21,900	23,100	18,400	24,800	19,900	20,200	18,600	4,100	27,600	24,600	23,100	7,300	24,700	22,100	21,500	17,694	18,175	18,666	21,465	22,229	21,188	22,096	17,558	19,323	18,237	20,070	16,199	14,048	16,753	18,696	16,004	15,281	15,617
Impairment of intangible assets
17,500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Research and development
-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,800	9,700	10,800	-	9,900	9,900	10,200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Calder exit costs
-	-	-	-	-	-	-	-	-	-	200	200	400	-	500	1,500	400	400	12,700	800	0	-	2,298	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transaction expense, net
300	300	900	600	3,500	1,400	5,400	2,100	1,400	1,200	600	500	0	-4,700	1,100	1,100	2,700	-	2,800	8,200	6,400	10,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expense
264,500	277,100	278,500	321,000	237,400	207,000	200,800	242,800	169,600	191,600	169,900	216,400	159,000	-229,900	276,600	321,100	282,100	-	270,400	303,300	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance recoveries, net of losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	431	-	0	0	375	492	0	5,003	1,511	-	615	395	-	-	-
Operating (loss) income
-11,600	3,500	27,800	156,400	28,000	12,000	20,500	136,600	19,700	-12,700	27,000	122,900	8,500	22,000	26,800	117,400	6,300	15,100	9,400	105,900	-4,100	-13,696	8,373	94,157	1,566	-5,313	10,253	82,119	3,041	2,834	7,813	82,183	3,720	6,301	10,087	67,475	-2,853	3,295	48,325
Other income (expense):
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	200	-	6	5	4	7	6	89	10	6	31	35	18	228	116	56	68	30	17
Interest expense, net
19,300	18,900	18,900	19,400	13,700	10,900	9,900	9,700	9,600	38,500	-12,600	11,600	11,800	10,900	11,100	11,100	10,600	7,300	6,700	7,100	7,500	5,693	5,173	4,961	4,973	2,092	1,407	1,256	1,476	1,453	873	982	1,223	1,427	1,576	3,461	2,460	1,625	1,420
Equity in (loss) income of unconsolidated affiliates
-3,300	22,900	14,100	9,500	4,100	5,200	9,100	8,800	6,500	2,800	8,900	7,700	6,100	3,900	4,900	4,800	3,800	3,000	2,300	2,900	3,000	447	1,057	2,506	2,290	-2,460	-887	-631	-164	-446	-471	-564	-220	-690	-467	460	-416	-470	-290
Gain on Ocean Downs/Saratoga transaction
-	-	0	-	-	-	54,900	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Miscellaneous, net
-	-	200	400	-	200	100	300	100	500	100	700	0	1,500	-200	400	-500	1,000	-100	0	5,600	118	114	393	-25	199	4,438	1,023	7	180	569	37	33	94	19,934	3,158	457	1,832	359
Total other expense
-22,600	4,400	-4,600	-9,500	-9,600	-5,500	54,200	-600	-3,000	-30,700	-3,600	-3,200	-5,700	-5,500	-6,400	-5,900	-7,300	-3,500	-4,500	-4,200	1,300	-5,143	-3,996	-2,057	-2,704	-4,346	2,150	-775	-1,623	-1,713	-744	-1,474	-1,392	-1,795	18,007	213	-2,351	-233	-1,334
(Loss) income from continuing operations before provision for income taxes
-34,200	7,900	23,200	146,900	18,400	6,500	74,700	136,000	16,700	-43,400	23,400	119,700	2,800	16,500	20,400	111,500	-1,000	11,600	4,900	101,700	-2,800	-18,839	4,377	92,100	-1,138	-9,659	12,403	81,344	1,418	1,121	7,069	80,709	2,328	4,506	28,094	67,688	-5,204	3,062	46,991
Income tax benefit (provision)
-11,600	3,700	8,000	38,600	6,500	-800	16,700	32,800	2,600	-77,800	10,300	47,000	600	1,100	11,700	41,700	-3,800	-1,500	700	46,600	-1,200	-5,075	846	34,767	-438	-4,086	3,195	31,035	329	-1,128	1,096	32,133	974	235	8,374	27,698	-2,018	-638	18,722
(Loss) income from continuing operations, net of tax
-22,600	4,200	15,200	108,300	11,900	7,300	58,000	103,200	14,100	34,400	13,100	72,700	2,200	-	-	-	-	-	-	-	-	-	-	-	-	-5,573	9,208	50,309	1,089	2,249	5,973	48,576	1,354	4,271	19,720	39,990	-3,186	3,700	28,269
Loss from discontinued operations, net of tax
-900	-500	-400	-1,200	-300	4,100	-1,700	-100	167,900	3,800	3,600	5,600	5,100	-	-	-	-	-	-	-	-	-	-	-	-	-49	41	-11	-31	125	0	0	-1	-62	60	0	1	-4,389	-664
Net (loss) income
-23,500	-	-	-	11,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss attributable to noncontrolling interest
-100	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	157	-	0	0
Net (loss) income and comprehensive (loss) income attributable to CDI
-23,400	4,000	14,800	107,100	11,600	11,400	56,300	103,100	182,000	38,200	16,700	78,300	7,300	26,800	8,700	69,800	2,800	7,500	4,200	55,100	-1,600	-13,764	3,531	57,333	-700	-5,705	9,249	50,298	1,058	2,374	5,973	48,576	1,353	7,613	19,780	40,147	-3,185	-689	27,605
Net (loss) income per common share data, basic:
Continuing operations (in dollars per share)
-570,000.00	0.12	0.38	2.69	0.30	0.12	1.43	2.54	0.33	-2.91	0.85	4.52	0.13	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.34	-	-	-	1.17	2.38	-	0.22	1.90
Discontinued operations (in dollars per share)
-20,000.00	-0.01	-0.01	-0.03	-0.01	0.29	-0.04	0.00	3.87	-0.51	0.24	0.34	0.31	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	0.00	0.01	-	-0.26	-0.05
Net income per common share data - basic (in dollars per share)
-590,000.00	0.11	0.37	2.66	0.29	0.41	1.39	2.54	4.20	-3.42	1.09	4.86	0.44	-2.68	0.52	4.16	0.17	0.48	0.24	3.12	-0.09	-0.73	0.21	3.23	-0.04	-0.31	0.52	2.85	0.06	0.15	0.34	2.82	0.08	0.43	1.17	2.39	-0.19	-0.04	1.85
Net (loss) income per common share data, diluted:
Continuing operations (in dollars per share)
-570,000.00	0.11	0.37	2.66	0.30	0.13	1.42	2.52	0.32	-2.89	0.84	4.47	0.13	-	-	-	-	-	-	-	-	-	-	-	-	-	0.51	-	-	-	0.34	-	-	-	1.16	2.36	-	0.22	1.90
Discontinued operations (in dollars per share)
-20,000.00	-0.01	-0.01	-0.03	-0.01	0.27	-0.04	0.00	3.86	-0.52	0.24	0.34	0.31	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	-	-	-	0.00	-	-	-	0.01	0.01	-	-0.26	-0.05
Net income per common share data - diluted (in dollars per share)
-590,000.00	0.10	0.36	2.63	0.29	0.40	1.38	2.52	4.18	-3.41	1.08	4.81	0.44	-2.65	0.52	4.11	0.16	0.46	0.24	3.10	-0.09	-0.73	0.20	3.21	-0.04	-0.33	0.52	2.81	0.06	0.15	0.34	2.77	0.08	0.41	1.17	2.37	-0.19	-0.04	1.85
Weighted average shares outstanding:
Basic (in shares)
39,700	39,900	40,000	40,100	40,400	40,500	40,700	40,700	43,300	141,100	15,300	16,100	16,300	147,800	16,400	16,500	16,500	16,900	17,300	17,300	17,300	17,230	17,020	17,531	17,419	17,371	17,328	17,268	17,209	17,177	17,130	16,978	16,903	16,892	16,858	16,444	16,358	16,311	14,440
Diluted (in shares)
39,700	40,400	40,700	40,700	40,600	41,000	41,000	40,900	43,500	143,400	15,500	16,300	16,800	151,100	16,900	17,000	17,000	17,600	17,800	17,700	17,300	17,798	17,303	17,880	17,419	18,048	17,955	17,921	17,828	17,390	17,575	17,502	17,433	18,233	16,974	16,935	16,358	16,768	14,895
Other comprehensive income (loss):
Foreign currency translation, net of tax
-	-	0	0	-	0	0	0	600	-200	500	-300	-100	0	0	200	0	-100	0	-100	-300	-100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Noncontrolling Interest
-	-	-	-	-	-	-	-	-	-	100	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in pension benefits, net of tax
-	-	0	0	-	0	-200	200	200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income (loss)
-	-	0	0	-	0	200	-200	400	-300	600	-300	-100	-800	0	200	0	-100	0	-100	-300	-100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income attributable to CDI
-	-	14,800	107,100	-	11,400	56,500	102,900	182,400	37,900	17,300	78,000	7,200	26,000	8,700	70,000	2,800	7,400	4,200	55,000	-1,900	-13,864	3,531	57,333	-700	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Churchill Downs
Churchill Downs
23,500	-	-	-	21,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total net revenue
23,800	27,000	32,700	193,100	21,400	17,400	11,800	164,300	2,300	-66,700	38,800	165,300	23,900	30,300	38,500	156,100	26,200	30,000	38,800	155,400	23,800	30,331	41,055	159,435	30,579	38,382	50,687	157,387	27,813	48,547	62,919	160,440	30,182	52,145	66,776	148,371	31,628	67,348	147,440
Operating expense
26,600	36,000	30,800	73,600	23,400	28,900	19,500	58,000	9,900	-64,200	40,800	76,500	36,400	38,300	41,500	72,300	35,600	37,600	41,000	75,100	36,200	41,105	46,492	85,483	43,220	47,631	54,375	90,160	41,120	54,980	61,953	95,484	42,988	57,075	65,154	91,555	45,585	67,083	96,770
Gaming
Net revenue
-	-	178,300	177,600	-	119,500	110,400	108,100	111,500	126,000	87,500	88,300	87,500	78,900	83,000	84,400	86,500	80,400	82,700	83,800	86,000	78,512	81,623	81,779	86,386	78,368	79,832	66,887	72,089	62,912	49,493	51,371	59,336	52,161	51,922	49,459	59,087	34,667	35,848
Gaming
147,600	-	-	-	168,800	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expense
124,800	132,600	137,300	133,200	125,000	92,100	81,200	78,100	79,600	108,300	60,700	62,100	62,700	58,500	61,400	60,400	61,000	58,200	60,800	61,000	61,100	58,813	60,436	62,005	62,046	60,883	61,086	49,624	50,988	46,564	37,891	38,291	40,940	39,185	39,051	38,237	41,402	27,978	31,617
All Other
Net revenue
-	-	26,400	22,000	-	9,900	28,300	22,700	12,600	62,400	4,700	5,200	4,100	4,000	4,500	4,400	4,000	4,500	4,000	4,500	3,600	2,687	4,539	5,182	4,092	3,597	6,455	6,789	5,058	4,999	6,872	6,303	4,643	4,887	5,636	5,330	4,036	6,299	2,260
All Other
14,500	-	-	-	12,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expense
21,100	29,100	22,900	21,500	15,500	13,900	23,700	22,000	16,300	62,800	4,300	4,900	3,900	4,600	3,900	4,100	3,900	4,500	4,100	3,900	3,800	-285	5,837	6,350	5,698	7,153	6,367	6,377	5,182	5,988	6,793	6,866	5,709	5,175	5,335	5,267	5,051	5,350	2,154
Online Wagering
Online Wagering
67,300	-	-	-	63,100	-	-	-	-	-	-	-	-	-148,000	122,300	125,200	122,100	-	103,600	104,500	91,900	13,900	0	0	0	-143,969	48,522	52,531	42,916	-142,330	45,593	52,702	44,035	40,072	42,015	46,526	36,803	39,232	29,847
Total net revenue
67,700	-	70,400	96,000	63,400	-	72,100	94,100	63,600	-	65,900	80,500	52,000	-	55,100	68,400	49,600	44,600	50,400	60,700	45,400	41,574	46,266	57,076	46,084	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expense
50,100	-	52,200	62,000	45,100	-	49,100	59,500	44,000	-	42,800	51,400	36,400	-	36,800	41,400	34,600	30,800	33,900	38,100	32,600	35,940	31,872	36,811	33,577	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of intangible assets
2,500	-	-	-	-	-	-	-	-	-	-	-	-	-162,800	94,500	105,600	109,400	-	80,000	83,400	82,200	16,000	0	0	0	-95,807	32,227	33,218	30,362	-95,266	32,190	32,925	30,151	27,443	30,584	28,851	26,365	28,559	20,912