$CHDN
Churchill Downs Inc

2013 Q4 Form 10-Q Financial Statement

#000002021213000052 Filed on October 30, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $162.1M $0.00 $0.00
YoY Change 2.99% -100.0%
Cost Of Revenue $306.5M $154.1M $138.8M
YoY Change 125.87% 11.02% -0.93%
Gross Profit -$144.4M $31.40M $26.10M
YoY Change -765.44% 20.31% -0.38%
Gross Profit Margin -89.08%
Selling, General & Admin $22.20M $21.19M $18.24M
YoY Change 15.03% 16.18% 8.86%
% of Gross Profit 67.48% 69.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $16.00M $15.80M $13.40M
YoY Change 8.11% 17.91% 0.0%
% of Gross Profit 50.32% 51.34%
Operating Expenses -$139.5M $21.19M $18.24M
YoY Change -819.07% 16.18% 8.86%
Operating Profit -$4.900M $10.25M $7.813M
YoY Change -313.04% 31.23% -22.54%
Interest Expense -$4.900M $1.407M $873.0K
YoY Change 250.0% 61.17% -44.61%
% of Operating Profit 13.72% 11.17%
Other Income/Expense, Net $200.0K $2.150M -$744.0K
YoY Change 0.0% -388.98% -104.13%
Pretax Income -$9.700M $12.40M $7.069M
YoY Change -981.82% 75.46% -74.84%
Income Tax -$4.100M $3.195M $1.096M
% Of Pretax Income 25.76% 15.5%
Net Earnings -$5.700M $9.249M $5.973M
YoY Change -337.5% 54.85% -69.8%
Net Earnings / Revenue -3.52%
Basic Earnings Per Share $0.52 $0.34
Diluted Earnings Per Share -$109.4K $0.52 $0.34
COMMON SHARES
Basic Shares Outstanding 17.98M shares 17.33M shares 17.13M shares
Diluted Shares Outstanding 17.96M shares 17.58M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.70M $43.80M $30.00M
YoY Change 20.16% 46.0% 11.52%
Cash & Equivalents $44.70M $43.75M $30.00M
Short-Term Investments
Other Short-Term Assets $12.04M $14.50M $11.96M
YoY Change -9.86% 21.22% -86.05%
Inventory
Prepaid Expenses
Receivables $46.57M $40.28M $38.21M
Other Receivables $12.40M $0.00 $0.00
Total Short-Term Assets $160.7M $147.6M $133.2M
YoY Change 9.28% 10.77% -8.51%
LONG-TERM ASSETS
Property, Plant & Equipment $585.5M $576.1M $469.5M
YoY Change 7.85% 22.71% -2.59%
Goodwill $300.6M $298.2M $217.7M
YoY Change 20.05% 36.96%
Intangibles $198.1M $205.9M $102.9M
YoY Change 38.43% 100.05%
Long-Term Investments $86.20M
YoY Change 348.96%
Other Assets $21.13M $60.02M $15.81M
YoY Change 82.24% 279.58% 79.68%
Total Long-Term Assets $1.192B $1.140B $806.0M
YoY Change 23.19% 41.47% -0.66%
TOTAL ASSETS
Total Short-Term Assets $160.7M $147.6M $133.2M
Total Long-Term Assets $1.192B $1.140B $806.0M
Total Assets $1.352B $1.288B $939.2M
YoY Change 21.35% 37.12% -1.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.12M $71.69M $59.00M
YoY Change -9.77% 21.5% -10.33%
Accrued Expenses $67.33M $61.56M $51.34M
YoY Change 2.73% 19.91% 7.4%
Deferred Revenue
YoY Change
Short-Term Debt $1.000M $4.900M $2.400M
YoY Change -83.33% 104.17% -76.7%
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $213.2M $179.6M $158.6M
YoY Change -47.56% 13.21% -0.1%
LONG-TERM LIABILITIES
Long-Term Debt $69.19M $324.8M $70.00M
YoY Change 363.99% -55.22%
Other Long-Term Liabilities $17.75M $18.22M $22.46M
YoY Change -15.58% -18.87% -52.42%
Total Long-Term Liabilities $86.94M $343.0M $92.46M
YoY Change 313.43% 270.99% -54.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $213.2M $179.6M $158.6M
Total Long-Term Liabilities $86.94M $343.0M $92.46M
Total Liabilities $647.5M $563.6M $284.8M
YoY Change 37.75% 97.86% -23.25%
SHAREHOLDERS EQUITY
Retained Earnings $408.8M $430.2M $379.7M
YoY Change 10.62% 13.29%
Common Stock $296.0M $294.0M $274.6M
YoY Change 7.73% 7.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $704.8M $724.2M $654.4M
YoY Change
Total Liabilities & Shareholders Equity $1.352B $1.288B $939.2M
YoY Change 21.35% 37.12% -1.85%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income -$5.700M $9.249M $5.973M
YoY Change -337.5% 54.85% -69.8%
Depreciation, Depletion And Amortization $16.00M $15.80M $13.40M
YoY Change 8.11% 17.91% 0.0%
Cash From Operating Activities $30.50M $14.10M $6.000M
YoY Change -27.38% 135.0% -77.44%
INVESTING ACTIVITIES
Capital Expenditures -$16.80M -$8.600M -$11.20M
YoY Change 6.33% -23.21% 86.67%
Acquisitions
YoY Change
Other Investing Activities -$40.00M -$169.8M $3.300M
YoY Change -72.49% -5245.45% 312.5%
Cash From Investing Activities -$56.80M -$178.4M -$7.900M
YoY Change -64.76% 2158.23% 51.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.20M 169.1M 100.0K
YoY Change -78.48% 169000.0% -100.39%
NET CHANGE
Cash From Operating Activities 30.50M 14.10M 6.000M
Cash From Investing Activities -56.80M -178.4M -7.900M
Cash From Financing Activities 27.20M 169.1M 100.0K
Net Change In Cash 900.0K 4.800M -1.800M
YoY Change -87.5% -366.67% -58.14%
FREE CASH FLOW
Cash From Operating Activities $30.50M $14.10M $6.000M
Capital Expenditures -$16.80M -$8.600M -$11.20M
Free Cash Flow $47.30M $22.70M $17.20M
YoY Change -18.17% 31.98% -47.24%

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us-gaap Increase Decrease In Book Overdrafts
IncreaseDecreaseInBookOverdrafts
-1103000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-7689000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-17100000 USD
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-3284000 USD
us-gaap Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
-3497000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
793000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
1895000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-921000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1728000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-2056000 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-2938000 USD
CY2013Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
254000 shares
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
220000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
236000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
239000 shares
CY2013Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
163301000 USD
CY2012Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
97511000 USD
CY2013Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
205864000 USD
CY2012Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
143141000 USD
CY2012Q3 us-gaap Interest Expense
InterestExpense
873000 USD
CY2013Q3 us-gaap Interest Expense
InterestExpense
1407000 USD
us-gaap Interest Expense
InterestExpense
3078000 USD
us-gaap Interest Expense
InterestExpense
4139000 USD
CY2012Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-842000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4034000 USD
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1401000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-2994000 USD
us-gaap Interest Paid
InterestPaid
1789000 USD
us-gaap Interest Paid
InterestPaid
2847000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
105000 USD
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
6000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
84000 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
31000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
470042000 USD
CY2013Q3 us-gaap Liabilities
Liabilities
563585000 USD
CY2013Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1287813000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1114337000 USD
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
-395000 USD
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
6179000 USD
CY2012Q4 us-gaap Liabilities Current
LiabilitiesCurrent
406570000 USD
CY2013Q3 us-gaap Liabilities Current
LiabilitiesCurrent
179606000 USD
CY2013Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 USD
CY2012Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
209728000 USD
CY2013Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
324782000 USD
CY2012Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
113143000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-63521000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-35914000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-220942000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
102109000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
114373000 USD
us-gaap Net Income Loss
NetIncomeLoss
55902000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
5973000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
9249000 USD
us-gaap Net Income Loss
NetIncomeLoss
60605000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
59324000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9054000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
55173000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5895000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
60605000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
9249000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5973000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
55902000 USD
CY2013Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2150000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-248000 USD
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-744000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-3610000 USD
CY2013Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 Segments
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
7813000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
93716000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
95268000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
10173000 USD
CY2012Q4 us-gaap Other Assets
OtherAssets
2900000 USD
CY2013Q3 us-gaap Other Assets Current
OtherAssetsCurrent
14497000 USD
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
13352000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
30836000 USD
CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
60019000 USD
us-gaap Other Expenses
OtherExpenses
18597000 USD
us-gaap Other Expenses
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19368000 USD
CY2013Q3 us-gaap Other Expenses
OtherExpenses
6597000 USD
CY2012Q3 us-gaap Other Expenses
OtherExpenses
6793000 USD
CY2013Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
18220000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
21030000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-555000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-708000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
5468000 USD
CY2012Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
569000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
639000 USD
CY2013Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
4438000 USD
CY2013Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
6605000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
17818000 USD
CY2012Q3 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
6872000 USD
us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
18828000 USD
CY2013Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
193000 USD
CY2012Q3 us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
78000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
729000 USD
us-gaap Participating Securities Distributed And Undistributed Earnings
ParticipatingSecuritiesDistributedAndUndistributedEarnings
1279000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5940000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2846000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
10110000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
154872000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
6728000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
2500000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
6525000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
27000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25456000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
29858000 USD
us-gaap Pre Opening Costs
PreOpeningCosts
1211000 USD
us-gaap Pre Opening Costs
PreOpeningCosts
0 USD
CY2013Q3 us-gaap Pre Opening Costs
PreOpeningCosts
500000 USD
CY2012Q3 us-gaap Pre Opening Costs
PreOpeningCosts
0 USD
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000 shares
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
250000 shares
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
17881000 shares
CY2012Q3 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
17575000 shares
us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
17465000 shares
CY2013Q3 us-gaap Pro Forma Weighted Average Shares Outstanding Diluted
ProFormaWeightedAverageSharesOutstandingDiluted
17955000 shares
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6160000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1135000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
291574000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
641665000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-2092000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-625000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
88000 USD
us-gaap Promotional Allowances
PromotionalAllowances
14600000 USD
us-gaap Promotional Allowances
PromotionalAllowances
25100000 USD
CY2012Q3 us-gaap Promotional Allowances
PromotionalAllowances
5200000 USD
CY2013Q3 us-gaap Promotional Allowances
PromotionalAllowances
8700000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
29858000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
25456000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
542882000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
576142000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
526611000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
349139000 USD
CY2013Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
40026000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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38241000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
369586000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
430191000 USD
us-gaap Revenue Recognition Loyalty Programs
RevenueRecognitionLoyaltyPrograms
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s customer loyalty programs offer incentives to customers who wager at the Company&#8217;s racetracks, through its advance deposit wagering platform, TwinSpires.com, or at its gaming facilities. The TSC Elite program is for pari-mutuel wagering at the Company&#8217;s racetracks or through TwinSpires.com. The Player&#8217;s Club is offered at the Company&#8217;s gaming facilities in Louisiana, Florida, Maine and Mississippi. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2012</font><font style="font-family:inherit;font-size:10pt;">, the outstanding reward point liabilities were $</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and were included in accrued expenses.</font></div></div>
CY2013Q3 us-gaap Revenues
Revenues
0 USD
us-gaap Revenues
Revenues
0 USD
CY2012Q3 us-gaap Revenues
Revenues
0 USD
us-gaap Revenues
Revenues
0 USD
CY2013Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
185646000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
617492000 USD
CY2012Q3 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
164877000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
573889000 USD
us-gaap Schedule Of Repurchase Agreements
ScheduleOfRepurchaseAgreements
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">NOTE 12 &#8212; STOCK REPURCHASE PROGRAM</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On April 23, 2013, the Company's Board of Directors authorized the repurchase of up to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$100 million</font><font style="font-family:inherit;font-size:10pt;"> of the Company's stock in a stock repurchase program. The Company may repurchase stock in open market purchases or through privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements and other relevant factors. The Company expects to fund repurchases using available cash and borrowings under the Company's Amended Credit Facility. The Company is not obligated to purchase any stock under the stock repurchase program, and purchases may be discontinued, or the stock repurchase program may be modified or suspended at any time prior to the termination of the repurchase program on December 31, 2015. During the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">nine</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2013</font><font style="font-family:inherit;font-size:10pt;">, the Company did not repurchase any shares of stock under this program.</font></div></div>
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21188000 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18237000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
60842000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
54506000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
15567000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6083000 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
17000 shares
CY2013Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
75000 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
70500 shares
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
32460000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
5335000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
282000 shares
CY2013Q3 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
42000 shares
CY2013Q2 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
100000000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
724228000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
644295000 USD
CY2012Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
0 USD
CY2013Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
7173000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
400000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
100000 USD
us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
100000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
300000 USD
us-gaap Unusual Or Infrequent Item Insurance Proceeds
UnusualOrInfrequentItemInsuranceProceeds
-10413000 USD
us-gaap Unusual Or Infrequent Item Insurance Proceeds
UnusualOrInfrequentItemInsuranceProceeds
0 USD
CY2013Q3 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
17328000 shares
CY2012Q3 us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
17130000 shares
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
17004000 shares
us-gaap Weighted Average Basic Shares Outstanding Pro Forma
WeightedAverageBasicSharesOutstandingProForma
17269000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17575000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17881000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17955000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17465000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17004000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17328000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17269000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17130000 shares
chdn Acquisitionof Gaming License
AcquisitionofGamingLicense
2250000 USD
chdn Acquisitionof Gaming License
AcquisitionofGamingLicense
2250000 USD
chdn Adjusted Corporate Ebitda
AdjustedCorporateEBITDA
-3182000 USD
CY2013Q3 chdn Gross Proceedsfrom Hre Trust
GrossProceedsfromHRETrust
7900000 USD
chdn Adjusted Corporate Ebitda
AdjustedCorporateEBITDA
-3380000 USD
CY2012Q3 chdn Adjusted Corporate Ebitda
AdjustedCorporateEBITDA
-905000 USD
CY2013Q3 chdn Adjusted Corporate Ebitda
AdjustedCorporateEBITDA
-1215000 USD
chdn Adjusted Segment Ebitda
AdjustedSegmentEBITDA
141450000 USD
chdn Adjusted Segment Ebitda
AdjustedSegmentEBITDA
160118000 USD
CY2012Q3 chdn Adjusted Segment Ebitda
AdjustedSegmentEBITDA
25154000 USD
CY2013Q3 chdn Adjusted Segment Ebitda
AdjustedSegmentEBITDA
32976000 USD
chdn Estimated Cost Of Providing Promotional Allowances
EstimatedCostOfProvidingPromotionalAllowances
7000000 USD
chdn Estimated Cost Of Providing Promotional Allowances
EstimatedCostOfProvidingPromotionalAllowances
3700000 USD
CY2012Q3 chdn Estimated Cost Of Providing Promotional Allowances
EstimatedCostOfProvidingPromotionalAllowances
1300000 USD
CY2013Q3 chdn Estimated Cost Of Providing Promotional Allowances
EstimatedCostOfProvidingPromotionalAllowances
2300000 USD
CY2013Q3 chdn Gross Proceedsfrom Hre Trust
GrossProceedsfromHRETrust
23000000 USD
CY2013Q3 chdn Hre Trust Fund Proceeds
HRETrustFundProceeds
0.15
CY2012Q3 chdn Illinois Hre Trust Fund Proceeds
IllinoisHRETrustFundProceeds
0 USD
chdn Illinois Hre Trust Fund Proceeds
IllinoisHRETrustFundProceeds
0 USD
CY2013Q3 chdn Illinois Hre Trust Fund Proceeds
IllinoisHRETrustFundProceeds
4249000 USD
chdn Illinois Hre Trust Fund Proceeds
IllinoisHRETrustFundProceeds
4541000 USD
CY2012Q3 chdn Income Loss From Continuing Operations Basic
IncomeLossFromContinuingOperationsBasic
-5895000 USD
chdn Income Loss From Continuing Operations Basic
IncomeLossFromContinuingOperationsBasic
-55174000 USD
chdn Income Loss From Continuing Operations Basic
IncomeLossFromContinuingOperationsBasic
-59236000 USD
CY2013Q3 chdn Income Loss From Continuing Operations Basic
IncomeLossFromContinuingOperationsBasic
-8965000 USD
CY2013Q3 chdn Income Loss From Continuing Operations Diluted
IncomeLossFromContinuingOperationsDiluted
9158000 USD
CY2012Q3 chdn Income Loss From Continuing Operations Diluted
IncomeLossFromContinuingOperationsDiluted
5973000 USD
chdn Income Loss From Continuing Operations Diluted
IncomeLossFromContinuingOperationsDiluted
55903000 USD
chdn Income Loss From Continuing Operations Diluted
IncomeLossFromContinuingOperationsDiluted
60515000 USD
chdn Increase Decrease In Deposit Wagering Asset
IncreaseDecreaseInDepositWageringAsset
3364000 USD
chdn Increase Decrease In Deposit Wagering Asset
IncreaseDecreaseInDepositWageringAsset
3841000 USD
chdn Increase Decrease In Deposit Wagering Liability
IncreaseDecreaseInDepositWageringLiability
3841000 USD
chdn Increase Decrease In Deposit Wagering Liability
IncreaseDecreaseInDepositWageringLiability
3055000 USD
CY2012Q3 chdn Incremental Common Shares Attributable To Participating Securities
IncrementalCommonSharesAttributableToParticipatingSecurities
225000 shares
chdn Incremental Common Shares Attributable To Participating Securities
IncrementalCommonSharesAttributableToParticipatingSecurities
225000 shares
chdn Incremental Common Shares Attributable To Participating Securities
IncrementalCommonSharesAttributableToParticipatingSecurities
373000 shares
CY2013Q3 chdn Incremental Common Shares Attributable To Participating Securities
IncrementalCommonSharesAttributableToParticipatingSecurities
373000 shares
chdn Insurance Recoveries Net Of Losses
InsuranceRecoveriesNetOfLosses
6514000 USD
CY2013Q3 chdn Insurance Recoveries Net Of Losses
InsuranceRecoveriesNetOfLosses
0 USD
CY2012Q3 chdn Insurance Recoveries Net Of Losses
InsuranceRecoveriesNetOfLosses
0 USD
chdn Insurance Recoveries Net Of Losses
InsuranceRecoveriesNetOfLosses
375000 USD
CY2012Q4 chdn Intangible Assets Excluding Goodwill Gross
IntangibleAssetsExcludingGoodwillGross
172740000 USD
CY2013Q3 chdn Intangible Assets Excluding Goodwill Gross
IntangibleAssetsExcludingGoodwillGross
242323000 USD
chdn Net Earnings And Comprehensive Income
NetEarningsAndComprehensiveIncome
55902000 USD
chdn Net Earnings And Comprehensive Income
NetEarningsAndComprehensiveIncome
60605000 USD
CY2013Q3 chdn Net Earnings And Comprehensive Income
NetEarningsAndComprehensiveIncome
9249000 USD
CY2012Q3 chdn Net Earnings And Comprehensive Income
NetEarningsAndComprehensiveIncome
5973000 USD
chdn Online Expense
OnlineExpense
95266000 USD
CY2012Q3 chdn Online Expense
OnlineExpense
32190000 USD
CY2013Q3 chdn Online Expense
OnlineExpense
32227000 USD
chdn Online Expense
OnlineExpense
95807000 USD
CY2012Q3 chdn Online Revenue
OnlineRevenue
45593000 USD
CY2013Q3 chdn Online Revenue
OnlineRevenue
48522000 USD
chdn Online Revenue
OnlineRevenue
143969000 USD
chdn Online Revenue
OnlineRevenue
142330000 USD
chdn Payments To Acquire Businesses Net Of Cash Acquired Portion Attributable To Contingent Consideration
PaymentsToAcquireBusinessesNetOfCashAcquiredPortionAttributableToContingentConsideration
-2331000 USD
chdn Payments To Acquire Businesses Net Of Cash Acquired Portion Attributable To Contingent Consideration
PaymentsToAcquireBusinessesNetOfCashAcquiredPortionAttributableToContingentConsideration
0 USD
chdn Racing Expense
RacingExpense
185655000 USD
CY2013Q3 chdn Racing Expense
RacingExpense
54375000 USD
chdn Racing Expense
RacingExpense
200425000 USD
CY2012Q3 chdn Racing Expense
RacingExpense
61953000 USD
chdn Racing Revenue
RacingRevenue
253541000 USD
chdn Racing Revenue
RacingRevenue
235887000 USD
CY2013Q3 chdn Racing Revenue
RacingRevenue
50687000 USD
CY2012Q3 chdn Racing Revenue
RacingRevenue
62919000 USD
chdn Reductionin Unrecognized Tax Benefits Relatedto Hre Trust Fund
ReductioninUnrecognizedTaxBenefitsRelatedtoHRETrustFund
6800000 USD
CY2013Q1 chdn Trading Days
TradingDays
P20D
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Central Index Key
EntityCentralIndexKey
0000020212
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
17977039 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CHURCHILL DOWNS INC

Files In Submission

Name View Source Status
0000020212-13-000052-index-headers.html Edgar Link pending
0000020212-13-000052-index.html Edgar Link pending
0000020212-13-000052.txt Edgar Link pending
0000020212-13-000052-xbrl.zip Edgar Link pending
cdilogo3a02.jpg Edgar Link pending
chdn-20130930.xml Edgar Link completed
chdn-20130930.xsd Edgar Link pending
chdn-20130930_cal.xml Edgar Link unprocessable
chdn-20130930_def.xml Edgar Link unprocessable
chdn-20130930_lab.xml Edgar Link unprocessable
chdn-20130930_pre.xml Edgar Link unprocessable
chdn2013093010q.htm Edgar Link pending
exhibit31a20130910q.htm Edgar Link pending
exhibit31b20130910q.htm Edgar Link pending
exhibit3220130910q.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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