XML 23 R5.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Total revenues $ 6,401.7 $ 5,905.0 $ 3,578.7
Operating expenses      
General and administrative 1,110.4 1,352.9 1,130.8
Depreciation and amortization 567.5 344.5 366.7
Impairment losses 118.2 0.0 623.4
Total operating expenses 5,427.7 4,845.4 3,988.9
Operating income (loss) 974.0 1,059.6 (410.2)
Other income (expenses)      
Interest expense, net (758.2) (562.8) (544.1)
Interest income 18.3 1.1 0.9
Income from unconsolidated affiliates 23.7 38.7 13.8
Loss on early extinguishment of debt (10.4) 0.0 (1.2)
Other (72.1) 2.5 106.6
Total other expenses (798.7) (520.5) (424.0)
Income (loss) before income taxes 175.3 539.1 (834.2)
Income tax benefit (expense) 46.4 (118.6) 165.1
Net income (loss) 221.7 420.5 (669.1)
Less: Net (income) loss attributable to non-controlling interest 0.4 0.3 (0.4)
Net income (loss) attributable to PENN Entertainment $ 222.1 $ 420.8 $ (669.5)
Earnings (loss) per share      
Basic earnings (loss) per share (in dollars per share) $ 1.37 $ 2.64 $ (5.00)
Diluted earnings (loss) per share (in dollars per share) $ 1.29 $ 2.48 $ (5.00)
Weighted-average common shares outstanding - basic (in shares) 161.2 158.7 134.0
Weighted-average common shares outstanding - diluted (in shares) 176.6 175.5 134.0
Gaming      
Revenues      
Total revenues $ 5,201.7 $ 4,945.3 $ 3,051.1
Operating expenses      
Cost of revenue 2,864.4 2,540.7 1,530.3
Food, beverage, hotel and other      
Revenues      
Total revenues 1,200.0 959.7 527.6
Operating expenses      
Cost of revenue $ 767.2 $ 607.3 $ 337.7