Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

4. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill, by segment, is composed of the following:

(in millions)	Live and Historical		TwinSpires		Gaming		All Other		Total
Balances as of December 31, 2023	$	376.2	$	233.4	$	290.3	$	—	$	899.9
Adjustments	0.1		0.2		—		—		0.3
Balances as of March 31, 2024	$	376.3	$	233.6	$	290.3	$	—	$	900.2

Other intangible assets are comprised of the following:

	March 31, 2024						December 31, 2023
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets	$	96.0	$	(28.3)	$	67.7	$	97.5	$	(26.4)	$	71.1
Indefinite-lived intangible assets					2,347.3						2,347.3
Total					$	2,415.0					$	2,418.4

In the second quarter of 2023, the Company recognized a $24.5 million non-cash impairment charge for the Presque Isle Downs and Casino ("Presque Isle") gaming rights and trademark. The Company continues to monitor the current economic conditions and the impacts on the results of operations of Presque Isle. Future economic conditions could have a negative impact on the estimates and assumptions utilized in our asset impairment assessments. These potential impacts could increase the risk of a future impairment of assets at Presque Isle.