XML 11 R2.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Net revenue:        
Net revenue $ 582.5 $ 515.1 $ 946.6 $ 839.4
Operating expense:        
Selling, general and administrative expense 38.4 33.4 74.3 63.6
Asset impairments 0.0 11.2 4.9 11.2
Transaction expense, net 1.2 0.0 6.2 0.1
Total operating expense 382.8 379.7 699.5 657.3
Operating income 199.7 135.4 247.1 182.1
Other income (expense):        
Interest expense, net (35.1) (22.0) (56.4) (41.4)
Equity in income of unconsolidated affiliates 40.5 36.4 73.0 61.3
Gain on Calder land sale 274.6 0.0 274.6 0.0
Miscellaneous, net 0.2 0.1 0.2 0.2
Total other income 280.2 14.5 291.4 20.1
Income from operations before provision for income taxes 479.9 149.9 538.5 202.2
Income tax provision (140.6) (41.6) (157.1) (57.8)
Net income $ 339.3 $ 108.3 $ 381.4 $ 144.4
Net income per common share data:        
Basic net income (in dollars per share) $ 8.91 $ 2.80 $ 9.98  
Diluted net income (in dollars per share) $ 8.79 $ 2.76 $ 9.85 $ 3.66
Weighted average shares outstanding:        
Basic (in shares) 38.1 38.7 38.2 38.8
Diluted (in shares) 38.6 39.3 38.7 39.4
Live and Historical Racing        
Net revenue:        
Net revenue $ 260.9 $ 175.9 $ 346.9 $ 239.1
Operating expense:        
Operating expense 121.4 100.3 189.1 155.0
TwinSpires        
Net revenue:        
Net revenue 136.8 140.8 237.1 244.3
Operating expense:        
Operating expense 90.2 102.1 165.1 179.6
Gaming        
Net revenue:        
Net revenue 184.3 186.0 361.6 338.0
Operating expense:        
Operating expense 128.8 121.0 254.0 227.3
All Other        
Net revenue:        
Net revenue 0.5 12.4 1.0 18.0
Operating expense:        
Operating expense $ 2.8 $ 11.7 $ 5.9 $ 20.5