XML 24 R3.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net revenue:      
Total net revenue $ 2,461.7 $ 1,809.8 $ 1,597.2
Operating expense:      
Selling, general and administrative expense 202.3 164.2 138.5
Asset impairments 24.6 38.3 15.3
Transaction expense, net 4.8 42.1 7.9
Total operating expense 1,897.7 1,488.0 1,312.8
Operating income 564.0 321.8 284.4
Other (expense) income:      
Interest expense, net (268.4) (147.3) (84.7)
Equity in income of unconsolidated affiliates 146.3 152.7 143.2
Gain on the sale of assets 114.0 274.6 0.0
Miscellaneous, net 5.9 7.0 0.7
Total other (expense) income (2.2) 287.0 59.2
Income before provision for income taxes 561.8 608.8 343.6
Income tax provision (144.5) (169.4) (94.5)
Net income $ 417.3 $ 439.4 $ 249.1
Net income per common share - basic (in dollars per share) $ 5.55 $ 5.79 $ 3.22
Net income per common share - diluted (in dollars per share) $ 5.49 $ 5.71 $ 3.18
Weighted average shares outstanding:      
Basic (in shares) 75.2 75.9 77.2
Diluted (in shares) 76.1 77.0 78.4
Live and Historical Racing      
Net revenue:      
Total net revenue $ 1,047.3 $ 614.6 $ 409.1
Operating expense:      
Operating expense 662.2 400.9 288.9
TwinSpires      
Net revenue:      
Total net revenue 444.9 436.4 451.4
Operating expense:      
Operating expense 288.2 293.6 345.8
Gaming      
Net revenue:      
Total net revenue 968.6 755.9 695.4
Operating expense:      
Operating expense 700.0 537.9 476.3
All Other      
Net revenue:      
Total net revenue 0.9 2.9 41.3
Operating expense:      
Operating expense $ 15.6 $ 11.0 $ 40.1