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)
| 12/31/2023 | 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 investments | 129,800 | 291,300 | 67,400 | 96,200 | 133,300 | 51,700 | |||
| Cash and cash equivalents | 129,800 | 291,300 | 67,400 | 96,200 | 133,300 | 51,700 | |||
| Restricted cash and investments | 74,900 | 64,300 | 53,600 | 46,300 | 31,200 | ||||
| Receivables | 95,500 | 108,300 | 85,900 | 51,800 | 45,800 | 85,200 | |||
| Disposal group, including discontinued operation | 69,100 | ||||||||
| Other current assets | 44,300 | 37,600 | 28,200 | 26,900 | 22,400 | 18,900 | |||
| Other undisclosed current assets | 40,000 | ||||||||
| Total current assets: | 344,500 | 501,500 | 235,100 | 221,200 | 241,500 | 256,100 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 31,900 | 26,500 | 22,300 | 24,800 | ✕ | ✕ | |||
| Property, plant and equipment | 1,946,400 | 968,400 | 1,059,800 | 912,500 | 757,500 | 608,000 | |||
| Long-term investments and receivables | 659,400 | 663,600 | 630,600 | 634,500 | 108,100 | 171,300 | |||
| Long-term investments | 659,400 | 663,600 | 630,600 | 634,500 | 108,100 | 171,300 | |||
| Intangible assets, net (including goodwill) | 3,115,600 | 714,900 | 717,400 | 736,900 | 602,000 | 487,000 | |||
| Goodwill | 723,800 | 366,800 | 366,800 | 367,100 | 338,000 | 317,600 | |||
| Intangible assets, net (excluding goodwill) | 2,391,800 | 348,100 | 350,600 | 369,800 | 264,000 | 169,400 | |||
| Regulated entity, other noncurrent assets | 33,100 | 13,800 | |||||||
| Disposal group, including discontinued operation, noncurrent assets | 823,400 | ||||||||
| Other noncurrent assets | 27,000 | 18,900 | 21,200 | 21,100 | 16,100 | 13,600 | |||
| Other undisclosed noncurrent assets | 48,900 | 74,000 | |||||||
| Total noncurrent assets: | 5,862,300 | 2,480,100 | 2,451,300 | 2,329,800 | 1,483,700 | 2,103,300 | |||
| TOTAL ASSETS: | 6,206,800 | 2,981,600 | 2,686,400 | 2,551,000 | 1,725,200 | 2,359,400 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 214,200 | 147,600 | 115,200 | 110,500 | 159,300 | 153,600 | |||
| Interest and dividends payable | ✕ | ✕ | 26,100 | 24,900 | 23,500 | 22,500 | 23,700 | ||
| Employee-related liabilities | ✕ | ✕ | 39,900 | 19,600 | 29,200 | ||||
| Accounts payable | 145,500 | 81,600 | 70,700 | 57,800 | 47,000 | 54,100 | |||
| Accrued liabilities | 68,700 | 89,800 | 75,800 | ||||||
| Deferred revenue | 39,000 | 47,700 | 32,800 | 42,500 | ✕ | ✕ | |||
| Debt | 47,900 | 7,400 | 4,200 | 9,000 | 4,000 | 4,000 | |||
| Disposal group, including discontinued operation | 124,000 | 188,200 | |||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 70,900 | ||
| Other undisclosed current liabilities | 320,500 | 192,300 | 148,000 | 139,200 | 93,300 | 36,500 | |||
| Total current liabilities: | 621,600 | 395,000 | 424,200 | 301,200 | 256,600 | 453,200 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 880,300 | 1,125,200 | |||||||
| Long-term debt, excluding current maturities | 880,300 | 1,125,200 | |||||||
| Liabilities, other than long-term debt | 475,000 | 318,800 | 276,800 | 268,900 | 15,700 | 100,100 | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 29,300 | ||
| Deferred revenue | 11,800 | 13,300 | 17,100 | 16,700 | ✕ | ✕ | |||
| Deferred income tax liabilities | 340,800 | 252,900 | 213,900 | 212,800 | ✕ | ✕ | |||
| Disposal group, including discontinued operation, liabilities | 54,800 | ||||||||
| Other liabilities | 122,400 | 52,600 | 45,800 | 39,400 | 15,700 | 16,000 | |||
| Other undisclosed noncurrent liabilities | 4,558,700 | 1,961,000 | 1,618,300 | 1,469,900 | 99,300 | 40,600 | |||
| Total noncurrent liabilities: | 5,033,700 | 2,279,800 | 1,895,100 | 1,738,800 | 995,300 | 1,265,900 | |||
| Total liabilities: | 5,655,300 | 2,674,800 | 2,319,300 | 2,040,000 | 1,251,900 | 1,719,100 | |||
| Equity | |||||||||
| Equity, attributable to parent | 551,500 | 306,800 | 367,100 | 508,300 | 473,300 | 640,300 | |||
| Common stock | 18,200 | 7,300 | |||||||
| Accumulated other comprehensive loss | (900) | (900) | (900) | (900) | (900) | (1,300) | |||
| Retained earnings | 552,400 | 307,700 | 349,800 | 509,200 | 474,200 | 634,300 | |||
| Equity, attributable to noncontrolling interest | 2,700 | ||||||||
| Total equity: | 551,500 | 306,800 | 367,100 | 511,000 | 473,300 | 640,300 | |||
| TOTAL LIABILITIES AND EQUITY: | 6,206,800 | 2,981,600 | 2,686,400 | 2,551,000 | 1,725,200 | 2,359,400 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,809,800 | 1,597,200 | 1,054,000 | 1,329,700 | 1,009,000 | 882,600 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 882,600 | |
| Cost of revenue (Cost of Goods and Services Sold) | (247,300) | |||||||
| Gross profit: | 1,809,800 | 1,597,200 | 1,054,000 | 1,329,700 | 1,009,000 | 635,300 | ||
| 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: | 321,800 | 284,400 | 60,200 | 215,700 | 188,800 | 145,700 | ||
| Nonoperating income (expense) | 287,000 | 59,200 | (52,200) | (19,300) | 45,100 | (43,200) | ||
| Other nonoperating income | 7,000 | 700 | 100 | 1,000 | 700 | 1,300 | ||
| 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: | 461,500 | 258,900 | (72,000) | 125,500 | 193,800 | 81,800 | ||
| Other undisclosed income from continuing operations before income taxes | 147,300 | 84,700 | 80,000 | 70,900 | 40,100 | 20,700 | ||
| Income from continuing operations before income taxes: | 608,800 | 343,600 | 8,000 | 196,400 | 233,900 | 102,500 | ||
| Income tax expense (benefit) | (169,400) | (94,500) | 5,300 | (56,800) | (51,300) | 19,900 | ||
| Other undisclosed income from continuing operations | 200 | 300 | ||||||
| Income from continuing operations: | 439,400 | 249,100 | 13,500 | 139,900 | 182,600 | 122,400 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | 249,100 | 13,500 | 139,900 | 182,600 | 122,300 | |
| Loss from discontinued operations | (100) | |||||||
| Other undisclosed net loss | (95,600) | (2,700) | ||||||
| Net income (loss): | 439,400 | 249,100 | (82,100) | 137,200 | 182,600 | 122,300 | ||
| Net income attributable to noncontrolling interest | 200 | 300 | ||||||
| Other undisclosed net income attributable to parent | 170,200 | 18,200 | ||||||
| Net income (loss) attributable to parent: | 439,400 | 249,100 | (81,900) | 137,500 | 352,800 | 140,500 | ||
| Other undisclosed net loss available to common stockholders, basic | (100) | |||||||
| Net income (loss) available to common stockholders, basic: | 439,400 | 249,100 | (81,900) | 137,500 | 352,800 | 140,400 | ||
| Other undisclosed net income available to common stockholders, diluted | 100 | |||||||
| Net income (loss) available to common stockholders, diluted: | 439,400 | 249,100 | (81,900) | 137,500 | 352,800 | 140,500 | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 439,400 | 249,100 | (82,100) | 137,200 | 182,600 | 122,300 | ||
| Other comprehensive income (loss) | 400 | (100) | ||||||
| Comprehensive income (loss): | 439,400 | 249,100 | (82,100) | 137,200 | 183,000 | 122,200 | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 200 | 300 | ||||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 170,200 | 18,200 | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 439,400 | 249,100 | (81,900) | 137,500 | 353,200 | 140,400 | ||
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.