PENN NATIONAL GAMING, INC. PENN Income Statement

Penn national gaming, inc. (PENN)

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	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues [Abstract]
Revenues
1,116,100	1,341,206	1,354,500	1,323,094	1,282,600	1,155,202	789,700	826,913	816,085	815,882	855,090	842,446	818,082	787,244	811,240	813,535	797,022	773,287	778,876	739,156	702,026	689,276	683,722	689,837	678,011	537,824	758,149	804,540	842,832	563,228	741,918	748,415	772,428	714,509	750,546	721,301	697,717	661,103	672,457	631,954	626,999	657,126	616,311
Less: Promotional allowance
-	-	-	-	-	-	-	-	-	46,816	48,843	45,983	41,858	44,334	45,643	44,113	40,571	39,320	39,579	38,200	37,888	37,915	37,782	37,691	36,931	33,990	43,714	43,169	44,586	30,060	34,874	35,864	36,369	38,059	39,641	33,422	30,694	30,882	34,201	33,643	34,676	36,700	35,494
Total revenues
-	-	-	-	-	-	-	-	-	769,066	806,247	796,463	776,224	742,910	765,597	769,422	756,451	733,967	739,297	700,956	664,138	651,361	645,940	652,146	641,080	503,834	714,435	761,371	798,246	533,168	707,044	712,551	736,059	676,450	710,905	687,879	667,023	630,221	638,256	598,311	592,323	620,426	580,817
Operating expenses
Food, beverage, hotel and other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	102,110	101,873	98,079	100,014	89,151	82,803	77,929	82,811	79,040	80,403	77,538	72,633	84,471	88,910	90,265	76,833	80,875	84,985	87,804	90,000	87,952	75,257	68,592	70,095	66,857	66,628	63,220	69,100	65,529
General and administrative
307,000	304,132	309,700	286,968	286,900	239,946	125,100	132,591	121,263	151,388	107,201	130,096	125,815	121,448	114,376	109,974	116,504	106,662	107,614	118,901	116,256	114,781	116,345	107,735	107,575	120,696	131,140	128,730	135,577	136,034	137,615	115,251	115,997	109,023	108,897	102,322	103,476	107,782	102,164	106,953	94,516	110,116	93,001
Reimbursable management costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,965	2,855	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation, Depletion and Amortization, Nonproduction
95,700	97,780	106,300	106,020	104,100	93,151	56,900	58,559	60,390	61,412	66,483	68,969	70,236	71,109	67,903	66,182	66,020	67,676	66,141	62,275	63,369	64,662	62,021	69,874	70,185	65,750	79,968	80,615	77,071	60,880	62,399	56,791	53,337	51,893	52,195	54,230	53,158	54,712	53,842	52,653	51,180	50,055	46,942
Asset Impairment Charges And Provision For Loan And Lease Losses, Net Of Recoveries
616,100	173,100	0	0	0	51,267	0	-16,985	618	-	24,317	5,635	-	-	-	-	-	-	-	-	-	-	-	4,560	-	-	-	71,846	-	-	-	-	-	-	-	-	-	193,167	816	30,590	136	120	11,689
Total operating expenses
1,676,700	1,329,886	1,174,700	1,124,714	1,100,200	1,030,791	633,900	645,158	643,951	742,305	662,584	661,474	635,937	629,062	626,297	620,085	615,920	643,343	597,125	577,595	552,449	708,007	540,087	546,679	538,566	1,201,178	621,155	714,490	664,931	505,008	608,378	584,536	593,444	570,531	580,570	547,287	544,288	731,519	527,794	546,600	499,972	533,022	504,112
Insurance recoveries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	726	-	-	-	-	-	-	-	5,674	-	-	-	-	-2,500	-	14,458	0	-3,366	-3,863	26,476	30	-11,555	-1,694	-1,861	-5,876	155	59	211	331
Operating income (loss)
-560,600	11,320	179,800	198,380	182,400	124,411	155,800	181,755	172,134	26,761	143,663	134,989	140,287	113,848	139,300	149,337	140,531	90,624	142,172	123,361	111,689	-56,646	105,853	105,467	102,514	-697,344	93,280	46,881	133,315	28,160	98,666	128,015	142,615	105,919	130,335	140,592	122,735	-101,298	110,462	51,711	92,351	87,404	76,705
Other income (expenses)
Other income (expenses)
Interest expense, net
-129,800	-	-133,500	-	-132,300	-	-114,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense
-	-	-	135,039	-	-	-	115,873	115,740	-	118,236	116,768	114,996	113,695	114,349	114,687	116,512	113,577	111,406	109,798	108,346	109,598	105,933	105,069	104,514	79,853	25,060	27,060	27,924	26,305	19,953	17,823	18,043	20,915	23,514	26,109	29,026	30,600	32,412	32,911	34,292	36,785	29,851
Interest income
-	-	-	257	-	-	-	241	249	-	304	235	2,646	4,147	8,202	6,597	5,240	4,135	3,083	2,443	1,870	1,448	1,025	790	467	413	369	343	262	263	218	246	219	206	68	96	53	-160	398	611	730	956	1,603
Income from unconsolidated affiliates
4,100	6,645	9,800	6,255	5,700	5,505	5,700	5,734	5,361	4,350	4,781	5,021	4,548	2,675	3,505	3,548	4,609	2,593	3,759	4,154	3,982	1,702	2,291	1,473	2,483	1,819	2,296	3,821	1,721	258	807	1,054	1,685	-8,006	17,293	431	-2,354	-20,212	-3,925	-425	-1,412	-36	-416
Loss on early extinguishment of debt
-	-	0	0	-	-17,239	-300	-2,579	-882	-610	0	0	-23,390	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17,838	-	-	-	-	-519	-	-3,599	-
Other
-21,800	12,757	7,200	43	0	-5,656	-1,400	-48	4	-98	-236	-173	-1,793	299	404	44	-2,426	1,067	2,672	-956	3,089	1,553	1,583	-1,823	1,631	5,374	-436	2,402	664	6,428	-1,954	1,474	-1,003	-1,127	2,737	-701	-1,643	-1,824	8,259	1,307	-1,321	-2,560	2,887
Total other expenses
-147,500	-114,216	-116,500	-128,484	-126,600	-210,067	-110,600	-112,525	-111,008	-112,743	-113,387	-111,685	-132,985	-106,574	-102,238	-104,498	-109,089	-105,782	-101,892	-104,157	-99,405	-104,895	-101,034	-104,629	-99,933	-133,907	-22,831	-20,494	-25,277	-19,356	-20,882	-15,049	-17,142	-29,842	-21,254	-26,283	-32,970	-52,796	-27,680	-31,937	-36,295	-42,024	-25,777
Income (loss) before income taxes
-708,100	-102,896	63,300	69,896	55,800	-85,656	45,200	69,230	61,126	-85,982	30,276	23,304	7,302	7,274	37,062	44,839	31,442	-15,158	40,280	19,204	12,284	-161,541	4,819	838	2,581	-831,251	70,449	26,387	108,038	8,804	77,784	112,966	125,473	76,077	109,081	114,309	89,765	-154,094	82,782	19,774	56,056	45,380	50,928
Income tax benefit (expense)
-99,500	-9,939	19,600	18,539	14,800	-43,631	9,100	15,242	15,689	252,141	-759,064	6,225	2,198	2,242	-9,473	10,804	7,734	-6,092	35,380	16,221	10,415	-11,760	20,167	20,111	2,001	-144,046	29,132	38,567	42,767	12,958	31,338	46,299	46,854	32,046	38,278	38,320	38,237	-962	34,437	12,802	19,901	24,029	22,448
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-608,600	-92,957	43,700	51,357	41,000	-42,025	36,100	53,988	45,437	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-153,132	48,345	6,972	36,155	21,351	28,480
Less: Net loss attributable to non-controlling interest
0	-410	-200	-190	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-2,184	-9	-	-
Net income (loss) attributable to Penn National
-608,600	-92,547	43,900	51,547	41,000	-42,025	36,100	53,988	45,437	-338,123	789,340	17,079	5,104	5,032	46,535	34,035	23,708	-9,066	4,900	2,983	1,869	-149,781	-15,348	-19,273	580	-675,660	41,317	-12,180	65,271	18,765	46,446	66,667	78,619	44,031	70,803	75,989	51,528	-153,132	48,345	9,156	36,164	21,351	28,480
Earnings (loss) per common share:
Basic earnings per (loss) common share (in dollars per share)
-5.26	-0.79	0.38	0.44	0.35	-0.52	0.39	0.59	0.50	-3.72	8.68	0.19	0.06	0.05	0.52	0.38	0.26	-0.10	0.06	0.03	0.02	-1.90	-0.20	-0.25	0.01	-8.39	0.43	-0.16	0.68	0.20	0.49	0.70	0.83	0.47	0.73	0.79	0.53	-1.73	0.51	0.09	0.37	0.22	0.29
Diluted earnings per (loss) common share (in dollars per share)
-5.26	-0.80	0.38	0.44	0.35	-0.50	0.38	0.57	0.48	-3.60	8.43	0.18	0.06	0.05	0.51	0.37	0.26	-0.09	0.05	0.03	0.02	-1.90	-0.20	-0.25	0.01	-8.31	0.40	-0.16	0.63	0.22	0.44	0.63	0.74	0.41	0.66	0.71	0.48	-1.65	0.46	0.09	0.34	0.20	0.27
Weighted average basic shares outstanding (in shares)
115,700	115,318	115,200	115,982	116,300	113,841	91,900	91,468	91,191	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average diluted shares outstanding (in shares)
115,700	118,224	116,700	117,676	118,600	116,255	95,300	94,995	94,650	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gaming
Revenues
902,900	1,083,561	1,088,500	1,062,139	1,034,500	929,012	646,300	665,094	654,494	658,737	691,028	680,979	661,256	631,644	654,591	663,326	656,701	635,958	651,284	618,919	591,336	577,118	573,216	576,158	570,683	440,070	641,777	679,829	717,925	463,193	633,836	634,846	656,077	600,257	636,389	622,873	609,111	573,645	582,307	543,190	543,373	565,483	526,390
Cost of revenue
500,900	582,745	587,500	564,155	547,400	508,190	352,000	350,694	340,516	336,944	350,847	345,156	332,053	323,793	336,669	339,201	335,317	328,949	334,219	313,616	294,895	290,429	288,355	284,107	283,268	218,032	325,576	341,889	362,018	231,261	327,489	330,875	340,169	319,653	331,496	327,033	320,756	307,624	309,991	289,621	290,861	303,420	286,620
Food, beverage, hotel and other
Revenues
213,200	257,645	266,000	260,955	248,100	226,267	138,800	133,664	130,969	147,978	153,833	152,148	147,741	145,642	147,554	144,390	137,848	134,629	124,721	117,421	108,763	109,311	107,266	110,574	104,870	94,977	112,687	121,044	121,860	96,604	103,735	109,955	112,908	110,897	109,681	94,391	85,289	83,837	85,787	84,752	80,432	87,404	86,247
Cost of revenue
157,000	172,129	171,200	167,571	161,800	155,208	96,000	95,112	92,980	108,437	107,057	105,231	101,075	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Management service and license fees
Revenues
-	-	0	0	-	-106	700	2,968	2,438	2,891	3,550	2,932	2,327	2,781	3,130	2,964	2,473	2,700	2,871	2,816	1,927	2,847	3,240	3,105	2,458	2,777	3,685	3,667	3,047	3,431	4,347	3,614	3,443	3,355	4,476	4,037	3,317	3,621	4,363	4,012	3,194	4,239	3,674
Reimbursable management costs
Revenues
-	-	0	0	-	29	3,900	25,187	28,184	6,276	6,679	6,387	6,758	-	5,965	2,855	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of revenue
-	-	0	0	-	29	3,900	25,187	28,184	6,276	6,679	6,387	6,758	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-