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Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net revenue:        
Net revenue $ 628.5 $ 572.5 $ 2,110.1 $ 1,900.5
Operating expense:        
Selling, general and administrative expense 59.8 50.2 172.0 150.6
Asset impairments 3.9 0.0 3.9 24.5
Transaction expense, net (4.0) 1.5 0.7 1.8
Total operating expense 502.6 460.2 1,527.9 1,442.7
Operating income 125.9 112.3 582.2 457.8
Other (expense) income:        
Interest expense, net (73.1) (67.9) (217.0) (197.8)
Equity in income of unconsolidated affiliates 33.4 33.3 108.9 110.4
Gain on sale of Arlington 0.0 0.0 0.0 114.0
Miscellaneous, net (0.1) 4.1 8.1 5.5
Total other (expense) income (39.8) (30.5) (100.0) 32.1
Income from operations before provision for income taxes 86.1 81.8 482.2 489.9
Income tax provision (19.9) (20.8) (125.4) (130.2)
Net income 66.2 61.0 356.8 359.7
Net income attributable to noncontrolling interest 0.8 0.0 1.7 0.0
Net income attributable to Churchill Downs Incorporated $ 65.4 $ 61.0 $ 355.1 $ 359.7
Net income attributable to Churchill Downs Incorporated per common share data:        
Basic net income (in dollars per share) $ 0.87 $ 0.81 $ 4.78 $ 4.78
Diluted net income (in dollars per share) $ 0.86 $ 0.79 $ 4.73 $ 4.69
Weighted average shares outstanding:        
Basic (in shares) 73,900 75,200 74,000 75,300
Diluted (in shares) 74,600 77,100 74,600 76,700
Live and Historical Racing        
Net revenue:        
Net revenue $ 247.5 $ 219.5 $ 957.3 $ 818.9
Operating expense:        
Operating expense 171.3 158.2 549.9 505.7
TwinSpires        
Net revenue:        
Net revenue 111.3 108.5 369.6 340.7
Operating expense:        
Operating expense 72.3 73.4 229.5 219.8
Gaming        
Net revenue:        
Net revenue 269.7 244.3 783.1 740.2
Operating expense:        
Operating expense 194.8 175.6 561.7 528.3
All Other        
Net revenue:        
Net revenue 0.0 0.2 0.1 0.7
Operating expense:        
Operating expense $ 4.5 $ 1.3 $ 10.2 $ 12.0