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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net revenue:        
Net revenue $ 383.1 $ 393.0 $ 1,329.7 $ 1,232.4
Operating expense:        
Selling, general and administrative expense 38.4 36.1 112.7 99.7
Asset impairments 0.0 0.0 4.9 11.2
Transaction expense, net 1.2 2.0 7.4 2.1
Total operating expense 320.1 325.4 1,019.6 982.7
Operating income 63.0 67.6 310.1 249.7
Other income (expense):        
Interest expense, net (36.2) (21.7) (92.6) (63.1)
Equity in income of unconsolidated affiliates 42.4 41.7 115.4 103.0
Gain on Calder land sale 0.0 0.0 274.6 0.0
Miscellaneous, net 4.2 0.1 4.4 0.3
Total other income 10.4 20.1 301.8 40.2
Income from operations before provision for income taxes 73.4 87.7 611.9 289.9
Income tax provision (16.4) (26.3) (173.5) (84.1)
Net income $ 57.0 $ 61.4 $ 438.4 $ 205.8
Net income per common share data:        
Basic net income (in dollars per share) $ 1.51 $ 1.59 $ 11.52 $ 5.31
Diluted net income (in dollars per share) $ 1.49 $ 1.57 $ 11.36 $ 5.23
Weighted average shares outstanding:        
Basic (in shares) 37.8 38.6 38.1 38.7
Diluted (in shares) 38.4 39.2 38.6 39.3
Live and Historical Racing:        
Net revenue:        
Net revenue $ 92.3 $ 79.7 $ 439.2 $ 318.8
Operating expense:        
Operating expense 80.1 62.3 269.2 217.3
TwinSpires        
Net revenue:        
Net revenue 106.2 107.5 343.3 351.8
Operating expense:        
Operating expense 64.5 83.0 229.6 262.6
Gaming        
Net revenue:        
Net revenue 183.4 185.3 545.0 523.3
Operating expense:        
Operating expense 133.0 127.7 387.0 355.0
All Other        
Net revenue:        
Net revenue 1.2 20.5 2.2 38.5
Operating expense:        
Operating expense $ 2.9 $ 14.3 $ 8.8 $ 34.8