Churchill Downs, Incorporated (CHDN) Financial Statements (2024 and earlier)

Company Profile

Business Address 600 N HURSTBOURNE PKWY
LOUISVILLE, KY 40222-5389
State of Incorp. KY
Fiscal Year End December 31
Industry (SIC) 7948 - Racing, Including Track Operation (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments129,800291,30067,40096,200133,30051,700
Cash and cash equivalents129,800291,30067,40096,200133,30051,700
Restricted cash and investments74,90064,30053,60046,300 31,200
Receivables95,500108,30085,90051,80045,80085,200
Disposal group, including discontinued operation      69,100
Other current assets44,30037,60028,20026,90022,40018,900
Other undisclosed current assets     40,000 
Total current assets:344,500501,500235,100221,200241,500256,100
Noncurrent Assets
Operating lease, right-of-use asset 31,90026,50022,30024,800
Property, plant and equipment1,946,400968,4001,059,800912,500757,500608,000
Long-term investments and receivables659,400663,600630,600634,500108,100171,300
Long-term investments659,400663,600630,600634,500108,100171,300
Intangible assets, net (including goodwill)3,115,600714,900717,400736,900602,000487,000
Goodwill723,800366,800366,800367,100338,000317,600
Intangible assets, net (excluding goodwill)2,391,800348,100350,600369,800264,000169,400
Regulated entity, other noncurrent assets 33,10013,800    
Disposal group, including discontinued operation, noncurrent assets      823,400
Other noncurrent assets27,00018,90021,20021,10016,10013,600
Other undisclosed noncurrent assets 48,90074,000    
Total noncurrent assets:5,862,3002,480,1002,451,3002,329,8001,483,7002,103,300
TOTAL ASSETS:6,206,8002,981,6002,686,4002,551,0001,725,2002,359,400
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities214,200147,600115,200110,500159,300153,600
Interest and dividends payable26,10024,90023,50022,50023,700
Employee-related liabilities39,90019,60029,200  
Accounts payable145,50081,60070,70057,80047,00054,100
Accrued liabilities68,700   89,80075,800
Deferred revenue39,00047,70032,80042,500
Debt47,9007,4004,2009,0004,0004,000
Disposal group, including discontinued operation   124,000  188,200
Deferred revenue and credits70,900
Other undisclosed current liabilities320,500192,300148,000139,20093,30036,500
Total current liabilities:621,600395,000424,200301,200256,600453,200
Noncurrent Liabilities
Long-term debt and lease obligation    880,3001,125,200
Long-term debt, excluding current maturities    880,3001,125,200
Liabilities, other than long-term debt475,000318,800276,800268,90015,700100,100
Deferred revenue and credits29,300
Deferred revenue11,80013,30017,10016,700
Deferred income tax liabilities340,800252,900213,900212,800
Disposal group, including discontinued operation, liabilities      54,800
Other liabilities122,40052,60045,80039,40015,70016,000
Other undisclosed noncurrent liabilities 4,558,7001,961,0001,618,3001,469,90099,30040,600
Total noncurrent liabilities:5,033,7002,279,8001,895,1001,738,800995,3001,265,900
Total liabilities:5,655,3002,674,8002,319,3002,040,0001,251,9001,719,100
Equity
Equity, attributable to parent551,500306,800367,100508,300473,300640,300
Common stock   18,200  7,300
Accumulated other comprehensive loss(900)(900)(900)(900)(900)(1,300)
Retained earnings552,400307,700349,800509,200474,200634,300
Equity, attributable to noncontrolling interest    2,700  
Total equity:551,500306,800367,100511,000473,300640,300
TOTAL LIABILITIES AND EQUITY:6,206,8002,981,6002,686,4002,551,0001,725,2002,359,400

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,809,8001,597,2001,054,0001,329,7001,009,000882,600
Revenue, net882,600
Cost of revenue
(Cost of Goods and Services Sold)
      (247,300)
Gross profit:1,809,8001,597,2001,054,0001,329,7001,009,000635,300
Operating expenses(1,488,000)(1,312,800)(993,800)(1,114,000)(820,200)(736,900)
Other undisclosed operating income      247,300
Operating income:321,800284,40060,200215,700188,800145,700
Nonoperating income (expense)287,00059,200(52,200)(19,300)45,100(43,200)
Other nonoperating income7,0007001001,0007001,300
Interest and debt expense(147,300)(84,700)(80,000)(70,900)(40,100)(20,700)
Income (loss) from continuing operations before equity method investments, income taxes:461,500258,900(72,000)125,500193,80081,800
Other undisclosed income from continuing operations before income taxes147,30084,70080,00070,90040,10020,700
Income from continuing operations before income taxes:608,800343,6008,000196,400233,900102,500
Income tax expense (benefit)(169,400)(94,500)5,300(56,800)(51,300)19,900
Other undisclosed income from continuing operations   200300  
Income from continuing operations:439,400249,10013,500139,900182,600122,400
Income before gain (loss) on sale of properties:249,10013,500139,900182,600122,300
Loss from discontinued operations      (100)
Other undisclosed net loss   (95,600)(2,700)  
Net income (loss):439,400249,100(82,100)137,200182,600122,300
Net income attributable to noncontrolling interest   200300  
Other undisclosed net income attributable to parent     170,20018,200
Net income (loss) attributable to parent:439,400249,100(81,900)137,500352,800140,500
Other undisclosed net loss available to common stockholders, basic      (100)
Net income (loss) available to common stockholders, basic:439,400249,100(81,900)137,500352,800140,400
Other undisclosed net income available to common stockholders, diluted      100
Net income (loss) available to common stockholders, diluted:439,400249,100(81,900)137,500352,800140,500

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):439,400249,100(82,100)137,200182,600122,300
Other comprehensive income (loss)     400(100)
Comprehensive income (loss):439,400249,100(82,100)137,200183,000122,200
Comprehensive income, net of tax, attributable to noncontrolling interest   200300  
Other undisclosed comprehensive income, net of tax, attributable to parent     170,20018,200
Comprehensive income (loss), net of tax, attributable to parent:439,400249,100(81,900)137,500353,200140,400

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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