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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Net revenue:        
Net revenue $ 890.7 $ 768.5 $ 1,481.6 $ 1,328.0
Operating expense:        
Selling, general and administrative expense 57.4 48.1 112.2 100.4
Asset impairments 0.0 24.5 0.0 24.5
Transaction expense, net 0.6 0.5 4.7 0.3
Total operating expense 560.7 542.9 1,025.3 982.5
Operating income 330.0 225.6 456.3 345.5
Other (expense) income:        
Interest expense, net (73.5) (65.2) (143.9) (129.9)
Equity in income of unconsolidated affiliates 37.7 38.8 75.5 77.1
Gain on sale of Arlington 0.0 0.0 0.0 114.0
Miscellaneous, net 0.1 0.0 8.2 1.4
Total other (expense) income (35.7) (26.4) (60.2) 62.6
Income from operations before provision for income taxes 294.3 199.2 396.1 408.1
Income tax provision (84.1) (56.2) (105.5) (109.4)
Net income 210.2 143.0 290.6 298.7
Net income attributable to noncontrolling interest 0.9 0.0 0.9 0.0
Net income attributable to Churchill Downs Incorporated $ 209.3 $ 143.0 $ 289.7 $ 298.7
Net income attributable to Churchill Downs Incorporated per common share data:        
Basic net income (in dollars per share) $ 2.82 $ 1.90 $ 3.90 $ 3.97
Diluted net income (in dollars per share) $ 2.79 $ 1.86 $ 3.87 $ 3.90
Weighted average shares outstanding:        
Basic (in shares) 73,900 75,300 74,000 75,300
Diluted (in shares) 74,600 76,900 74,600 76,500
Live and Historical Racing        
Net revenue:        
Net revenue $ 464.7 $ 385.0 $ 709.8 $ 599.4
Operating expense:        
Operating expense 221.4 204.2 378.6 347.5
TwinSpires        
Net revenue:        
Net revenue 151.7 137.4 258.3 232.2
Operating expense:        
Operating expense 89.3 80.7 157.2 146.4
Gaming        
Net revenue:        
Net revenue 274.2 245.9 513.4 495.9
Operating expense:        
Operating expense 188.4 179.2 366.9 352.7
All Other        
Net revenue:        
Net revenue 0.1 0.2 0.1 0.5
Operating expense:        
Operating expense $ 3.6 $ 5.7 $ 5.7 $ 10.7