PENN Entertainment Inc. (PENN) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
825 BERKSHIRE BLVD STE 200 WYOMISSING, PA 19610 |
| State of Incorp. | PA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 7011 - Hotels and Motels (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 1,072 | 1,624 | 1,864 | 1,854 | 437 | 480 | |||
| Cash and cash equivalents | 1,072 | 1,624 | 1,864 | 1,854 | 437 | 480 | |||
| Receivables | 319 | 246 | 195 | 96 | 89 | 107 | |||
| Prepaid expense | 226 | 106 | 132 | 104 | 77 | 63 | |||
| Other current assets | 43 | 37 | 32 | 31 | 40 | 28 | |||
| Total current assets: | 1,659 | 2,013 | 2,224 | 2,085 | 643 | 678 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 2,041 | 224 | ✕ | ||||||
| Operating lease, right-of-use asset | 4,265 | 6,103 | 4,853 | 4,818 | 4,613 | ✕ | |||
| Property, plant and equipment | 3,514 | 4,516 | 4,582 | 4,529 | 5,120 | 6,869 | |||
| Long-term investments and receivables | 85 | 249 | 255 | 267 | 128 | 128 | |||
| Long-term investments | 85 | 249 | 255 | 267 | 128 | 128 | |||
| Intangible assets, net (including goodwill) | 4,313 | 4,428 | 4,695 | 2,671 | 3,297 | 3,085 | |||
| Goodwill | 2,695 | 2,690 | 2,823 | 1,157 | 1,271 | 1,228 | |||
| Intangible assets, net (excluding goodwill) | 1,618 | 1,739 | 1,873 | 1,514 | 2,027 | 1,857 | |||
| Restricted cash and investments | 2 | ||||||||
| Other noncurrent assets | 187 | 193 | 263 | 298 | 169 | 120 | |||
| Other undisclosed noncurrent assets | 79 | ||||||||
| Total noncurrent assets: | 14,405 | 15,489 | 14,649 | 12,582 | 13,552 | 10,283 | |||
| TOTAL ASSETS: | 16,064 | 17,502 | 16,872 | 14,667 | 14,195 | 10,961 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 1,059 | 845 | 852 | 608 | 672 | 496 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 16 | |||||
| Taxes payable | ✕ | ✕ | ✕ | 106 | |||||
| Employee-related liabilities | ✕ | ✕ | ✕ | 139 | |||||
| Accounts payable | 37 | 40 | 53 | 33 | 40 | 31 | |||
| Accrued liabilities | 1,022 | 805 | 799 | 575 | 631 | 205 | |||
| Debt | 88 | 173 | 110 | 88 | 194 | 130 | |||
| Deferred compensation liability | 88 | 71 | 82 | 86 | |||||
| Other liabilities | 113 | ||||||||
| Other undisclosed current liabilities | 256 | 70 | 90 | 77 | 41 | ||||
| Total current liabilities: | 1,490 | 1,159 | 1,133 | 860 | 906 | 738 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 4,781 | 7,655 | 7,266 | 6,809 | 6,992 | 9,431 | |||
| Long-term debt, excluding current maturities | 2,718 | 2,721 | 2,637 | 2,231 | 2,322 | 2,350 | |||
| Capital lease obligations | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 7,081 | ||
| Finance lease, liability | 2,063 | 4,934 | 307 | 213 | 219 | ✕ | |||
| Liabilities, other than long-term debt | 4,255 | 1,167 | 360 | 284 | 380 | 61 | |||
| Deferred income tax liabilities | 118 | 34 | 189 | 126 | 245 | ✕ | |||
| Liability for uncertainty in income taxes | 47 | 46 | 42 | 38 | 37 | 32 | |||
| Other liabilities | 146 | 118 | 129 | 119 | 98 | 28 | |||
| Operating lease, liability | 3,944 | 969 | 4,321 | 4,366 | 4,451 | ✕ | |||
| Other undisclosed noncurrent liabilities | 2,339 | 3,925 | 4,016 | 4,058 | 4,065 | ||||
| Total noncurrent liabilities: | 11,375 | 12,747 | 11,642 | 11,152 | 11,437 | 9,491 | |||
| Total liabilities: | 12,865 | 13,906 | 12,775 | 12,012 | 12,343 | 10,230 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 3,202 | 3,598 | 4,098 | 2,656 | 1,853 | 731 | |||
| Treasury stock, value | (780) | (630) | (28) | (28) | (28) | (28) | |||
| Additional paid in capital | 4,437 | 4,220 | 4,240 | 3,167 | 1,718 | 1,726 | |||
| Accumulated other comprehensive loss | (121) | (169) | (54) | ||||||
| Retained earnings (accumulated deficit) | (336) | 155 | (87) | (507) | 162 | (968) | |||
| Other undisclosed equity, attributable to parent | 2 | 21 | 28 | 25 | 1 | 1 | |||
| Equity, attributable to noncontrolling interest | (3) | (1) | (1) | (0) | (1) | (0) | |||
| Total equity: | 3,200 | 3,597 | 4,097 | 2,656 | 1,852 | 731 | |||
| TOTAL LIABILITIES AND EQUITY: | 16,064 | 17,502 | 16,872 | 14,667 | 14,195 | 10,961 | |||
Income Statement (P&L) ($ in millions)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 6,363 | 6,402 | 5,905 | 3,579 | 5,301 | 3,588 | ||
| Cost of revenue | (3,816) | (3,488) | (3,059) | (1,884) | (2,952) | (2,010) | ||
| Gross profit: | 2,547 | 2,914 | 2,846 | 1,695 | 2,349 | 1,577 | ||
| Operating expenses | (3,237) | (1,940) | (1,787) | (2,105) | (1,778) | (943) | ||
| Operating income (loss): | (690) | 974 | 1,060 | (410) | 572 | 634 | ||
| Nonoperating income (expense) | 46 | (54) | 4 | 108 | 20 | (6) | ||
| Investment income, nonoperating | 40 | 18 | 1 | 1 | 1 | |||
| Other nonoperating income (expense) | 6 | (72) | 3 | 107 | 20 | (7) | ||
| Interest and debt expense | (470) | (771) | (567) | (548) | (536) | (560) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (1,114) | 150 | 496 | (850) | 56 | 68 | ||
| Income from equity method investments | 25 | 24 | 39 | 14 | 28 | 22 | ||
| Other undisclosed income from continuing operations before income taxes | 589 | 2 | 4 | 2 | 2 | |||
| Income (loss) from continuing operations before income taxes: | (500) | 175 | 539 | (834) | 86 | 90 | ||
| Income tax expense (benefit) | 8 | 46 | (119) | 165 | (43) | 4 | ||
| Income (loss) from continuing operations: | (491) | 222 | 421 | (669) | 43 | 94 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 421 | (669) | 43 | 94 | |
| Net income (loss): | (491) | 222 | 421 | (669) | 43 | 94 | ||
| Net income (loss) attributable to noncontrolling interest | 1 | 0 | 0 | (0) | 1 | 0 | ||
| Net income (loss) attributable to parent: | (490) | 222 | 421 | (670) | 44 | 94 | ||
| Preferred stock dividends and other adjustments | (1) | (2) | ||||||
| Net income (loss) available to common stockholders, basic: | (490) | 221 | 419 | (670) | 44 | 94 | ||
| Interest on convertible debt | 7 | 17 | ||||||
| Dilutive securities, effect on basic earnings per share | ||||||||
| Other undisclosed net loss available to common stockholders, diluted | (7) | (17) | ||||||
| Net income (loss) available to common stockholders, diluted: | (490) | 221 | 419 | (670) | 44 | 94 | ||
Comprehensive Income ($ in millions)
| 3/31/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (491) | 222 | 421 | (669) | 43 | 94 | ||
| Other comprehensive income (loss) | 47 | (114) | (54) | |||||
| Comprehensive income (loss): | (444) | 108 | 366 | (669) | 43 | 94 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 1 | 0 | 0 | (0) | 1 | 0 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (443) | 108 | 366 | (670) | 44 | 94 | ||
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.