2017 Form 10-K Financial Statement

#000002021218000010 Filed on February 28, 2018

View on sec.gov

Income Statement

Concept 2017 2016 Q4 2016 Q3
Revenue $882.6M $161.8M $0.00
YoY Change 7.32% -40.6%
Cost Of Revenue $630.6M -$169.7M $239.1M
YoY Change 5.72% -175.83% 2.66%
Gross Profit $252.0M -$38.20M $64.30M
YoY Change 11.55% -178.6% 37.1%
Gross Profit Margin 28.55% -23.61%
Selling, General & Admin $83.50M $4.100M $27.60M
YoY Change 5.16% -81.78% 11.74%
% of Gross Profit 33.13% 42.92%
Research & Development $8.800M
YoY Change -11.11%
% of Gross Profit 13.69%
Depreciation & Amortization $49.10M $32.70M $31.70M
YoY Change 0.0% 3.81% 5.32%
% of Gross Profit 19.48% 49.3%
Operating Expenses $736.9M -$31.60M $276.6M
YoY Change 13.39% -199.06% 2.29%
Operating Profit $145.7M $32.40M $14.00M
YoY Change -15.54% 94.01% 48.94%
Interest Expense $49.30M -$7.000M $11.10M
YoY Change 12.81% -32.04% 65.67%
% of Operating Profit 33.84% -21.6% 79.29%
Other Income/Expense, Net -$43.20M $1.500M -$6.400M
YoY Change 72.11% -75.81% 42.22%
Pretax Income $102.5M $16.50M $20.40M
YoY Change -30.46% 101.22% 316.33%
Income Tax -$19.90M $1.100M $11.70M
% Of Pretax Income -19.41% 6.67% 57.35%
Net Earnings $140.5M $26.80M $8.700M
YoY Change 29.97% 257.33% 107.14%
Net Earnings / Revenue 15.92% 16.56%
Basic Earnings Per Share $2.97 $1.62 $0.52
Diluted Earnings Per Share $2.92 $1.60 $0.52
COMMON SHARES
Basic Shares Outstanding 47.20M shares 16.61M shares 16.40M shares
Diluted Shares Outstanding 48.00M shares 16.90M shares

Balance Sheet

Concept 2017 2016 Q4 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.70M $45.30M $56.90M
YoY Change 14.13% -39.19% 11.35%
Cash & Equivalents $51.70M $83.00M $56.90M
Short-Term Investments
Other Short-Term Assets $119.2M $17.80M $51.70M
YoY Change -3.01% -54.94% 33.22%
Inventory
Prepaid Expenses
Receivables $49.60M $56.60M $50.80M
Other Receivables $35.60M $21.20M $0.00
Total Short-Term Assets $256.1M $246.0M $201.2M
YoY Change 4.11% 12.02% -3.76%
LONG-TERM ASSETS
Property, Plant & Equipment $608.0M $560.6M $573.3M
YoY Change 8.46% -2.2% 0.32%
Goodwill $301.5M $841.7M
YoY Change -64.18% 0.04%
Intangibles $174.0M $458.4M
YoY Change -64.93% -10.11%
Long-Term Investments $171.3M $139.1M $131.4M
YoY Change 23.15% 7.25% 23.61%
Other Assets $837.0M $9.900M $13.50M
YoY Change 0.46% -28.26% -39.12%
Total Long-Term Assets $2.103B $2.008B $2.024B
YoY Change 4.73% -2.4% -1.35%
TOTAL ASSETS
Total Short-Term Assets $256.1M $246.0M $201.2M
Total Long-Term Assets $2.103B $2.008B $2.024B
Total Assets $2.359B $2.254B $2.225B
YoY Change 4.66% -1.01% -1.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $66.60M $49.50M $53.90M
YoY Change 7.42% 26.6% 3.34%
Accrued Expenses $75.80M $73.20M $101.0M
YoY Change 3.55% -25.23% 1.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $4.000M $14.20M $13.00M
YoY Change -71.83% -12.35% -13.33%
Total Short-Term Liabilities $453.2M $468.1M $391.0M
YoY Change -3.18% -26.87% -36.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.125B $907.5M $312.7M
YoY Change 23.99% 18.53% 14.91%
Other Long-Term Liabilities $100.1M $13.90M $15.60M
YoY Change -23.35% -23.2% -34.4%
Total Long-Term Liabilities $1.225B $921.4M $328.3M
YoY Change 18.03% 17.57% 10.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $453.2M $468.1M $391.0M
Total Long-Term Liabilities $1.225B $921.4M $328.3M
Total Liabilities $1.719B $1.569B $1.529B
YoY Change 9.54% -5.47% 2.35%
SHAREHOLDERS EQUITY
Retained Earnings $569.7M $565.1M
YoY Change 17.76% 14.04%
Common Stock $116.5M $130.7M
YoY Change -13.06% -51.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $640.3M $685.0M $695.4M
YoY Change
Total Liabilities & Shareholders Equity $2.359B $2.254B $2.225B
YoY Change 4.66% -1.01% -1.58%

Cashflow Statement

Concept 2017 2016 Q4 2016 Q3
OPERATING ACTIVITIES
Net Income $140.5M $26.80M $8.700M
YoY Change 29.97% 257.33% 107.14%
Depreciation, Depletion And Amortization $49.10M $32.70M $31.70M
YoY Change 0.0% 3.81% 5.32%
Cash From Operating Activities $215.1M $42.40M $22.20M
YoY Change -7.04% 2.66% -23.45%
INVESTING ACTIVITIES
Capital Expenditures $33.30M -$8.100M -$9.600M
YoY Change 7.77% -36.22% -7.69%
Acquisitions $24.20M
YoY Change
Other Investing Activities $2.100M $3.600M -$1.000M
YoY Change -114.75%
Cash From Investing Activities -$153.6M -$4.500M -$10.60M
YoY Change 202.96% -87.87% 1.92%
FINANCING ACTIVITIES
Cash Dividend Paid $21.50M
YoY Change 12.57%
Common Stock Issuance & Retirement, Net $178.8M
YoY Change 385.87%
Debt Paid & Issued, Net $1.836B
YoY Change 212.0%
Cash From Financing Activities -$59.50M -41.90M -9.100M
YoY Change -70.53% -311.62% -66.42%
NET CHANGE
Cash From Operating Activities $215.1M 42.40M 22.20M
Cash From Investing Activities -$153.6M -4.500M -10.60M
Cash From Financing Activities -$59.50M -41.90M -9.100M
Net Change In Cash $2.000M -4.000M 2.500M
YoY Change -109.43% -116.67% -129.41%
FREE CASH FLOW
Cash From Operating Activities $215.1M $42.40M $22.20M
Capital Expenditures $33.30M -$8.100M -$9.600M
Free Cash Flow $181.8M $50.50M $31.80M
YoY Change -9.33% -6.48% -19.29%

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CY2017Q4 us-gaap Assets
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CY2017Q4 us-gaap Assets Current
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CY2015 us-gaap Business Exit Costs1
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CY2016 us-gaap Business Exit Costs1
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CY2017 us-gaap Business Exit Costs1
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
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CY2017 us-gaap Casino Revenue
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CY2017Q4 us-gaap Commitments And Contingencies
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CY2016Q4 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Shares Outstanding
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CY2017Q4 us-gaap Common Stock Value
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CY2016 us-gaap Current Federal Tax Expense Benefit
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CY2017 us-gaap Current Federal Tax Expense Benefit
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CY2016 us-gaap Current Income Tax Expense Benefit
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CY2017 us-gaap Current Income Tax Expense Benefit
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3200000 USD
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CY2017 us-gaap Current State And Local Tax Expense Benefit
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CY2016Q4 us-gaap Debt Instrument Carrying Amount
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CY2017Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
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CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2015 us-gaap Deferred Income Tax Expense Benefit
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41200000 USD
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29200000 USD
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2500000 USD
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2500000 USD
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2700000 USD
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CY2017 us-gaap Depreciation
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CY2015 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
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CY2015 us-gaap Distributed Earnings
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CY2016 us-gaap Distributed Earnings
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CY2017 us-gaap Distributed Earnings
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CY2015 us-gaap Dividends
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CY2016 us-gaap Dividends
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CY2017 us-gaap Dividends
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21800000 USD
CY2017Q4 us-gaap Dividends Payable Current
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23700000 USD
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
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19100000 USD
CY2016Q4 us-gaap Dividends Payable Current And Noncurrent
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21800000 USD
CY2017Q4 us-gaap Dividends Payable Current And Noncurrent
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23700000 USD
CY2015 us-gaap Earnings Per Share Basic
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CY2016Q1 us-gaap Earnings Per Share Basic
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CY2016Q4 us-gaap Earnings Per Share Basic
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CY2016 us-gaap Earnings Per Share Basic
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CY2017Q1 us-gaap Earnings Per Share Basic
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4.86
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CY2017Q4 us-gaap Earnings Per Share Basic
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CY2016Q4 us-gaap Earnings Per Share Diluted
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1.60
CY2016 us-gaap Earnings Per Share Diluted
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6.42
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0.44
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4.81
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1.08
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CY2017 us-gaap Earnings Per Share Diluted
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CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2017 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2017 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y6M
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8400000 USD
CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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4500000 USD
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4900000 USD
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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5500000 USD
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15200000 USD
CY2016 us-gaap Equity Method Investment Dividends Or Distributions
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15600000 USD
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18000000 USD
CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
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CY2016Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
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38800000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Current Assets
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64500000 USD
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CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Current Liabilities
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100300000 USD
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255000000 USD
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325100000 USD
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535600000 USD
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36600000 USD
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47900000 USD
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64000000 USD
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165000000 USD
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236500000 USD
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100000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Noncurrent Liabilities
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100000 USD
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216100000 USD
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CY2016Q4 us-gaap Escrow Deposit
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CY2017Q4 us-gaap Escrow Deposit
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CY2017Q4 us-gaap Escrow Deposit
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CY2016Q4 us-gaap Escrow Deposit
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31100000 USD
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20600000 USD
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4800000 USD
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1800000 USD
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1800000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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1900000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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2100000 USD
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46800000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
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39800000 USD
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15700000 USD
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
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19200000 USD
CY2015 us-gaap Gain Loss On Sale Of Equity Investments
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5800000 USD
CY2016 us-gaap Gain Loss On Sale Of Equity Investments
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0 USD
CY2017 us-gaap Gain Loss On Sale Of Equity Investments
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0 USD
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
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0 USD
CY2016Q4 us-gaap Gain Loss On Sale Of Property Plant Equipment
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23700000 USD
CY2016 us-gaap Gain Loss On Sale Of Property Plant Equipment
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23700000 USD
CY2017 us-gaap Gain Loss On Sale Of Property Plant Equipment
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0 USD
CY2015 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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-20700000 USD
CY2016Q4 us-gaap Goodwill
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301500000 USD
CY2017Q4 us-gaap Goodwill
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317600000 USD
CY2017 us-gaap Goodwill Acquired During Period
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16100000 USD
CY2015 us-gaap Income Loss From Continuing Operations
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70800000 USD
CY2016Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
7100000 USD
CY2016Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
66800000 USD
CY2016Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
3400000 USD
CY2016Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
19400000 USD
CY2016 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
96700000 USD
CY2017Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
2200000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
72900000 USD
CY2017Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
12900000 USD
CY2017Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
34400000 USD
CY2017 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
122400000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
114100000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
146400000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
102200000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
115400000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
147400000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
102500000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1300000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1000000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
300000 USD
CY2015 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
70800000 USD
CY2016 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
96700000 USD
CY2017 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
122400000 USD
CY2015 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
4.08
CY2016Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.43
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.97
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.20
CY2016Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.17
CY2016 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
5.83
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.13
CY2017Q2 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
4.52
CY2017Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.85
CY2017Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.25
CY2017 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
7.76
CY2015 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
4.03
CY2016Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.42
CY2016Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.93
CY2016Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.20
CY2016Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.16
CY2016 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
5.74
CY2017Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.13
CY2017Q2 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
4.47
CY2017Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.84
CY2017Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.22
CY2017 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
7.64
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-5600000 USD
CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-4300000 USD
CY2015 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
28500000 USD
CY2016 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-6600000 USD
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
3000000 USD
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5300000 USD
CY2016Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
7400000 USD
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
11400000 USD
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5100000 USD
CY2017Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
5400000 USD
CY2017Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
3800000 USD
CY2017Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
3800000 USD
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
18100000 USD
CY2015 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.33
CY2016Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.26
CY2016Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.19
CY2016Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.32
CY2016Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.45
CY2016 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.69
CY2017Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.31
CY2017Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.34
CY2017Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.24
CY2017Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.25
CY2017 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
1.15
CY2015 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
11200000 USD
CY2016 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17400000 USD
CY2017 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
25500000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
44600000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
50700000 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-19900000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
700000 USD
CY2016 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
100000 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
-57700000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
40400000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
51600000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
35900000 USD
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-500000 USD
CY2016 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-2400000 USD
CY2017 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-100000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2000000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4000000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2500000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
41500000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
32400000 USD
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
75900000 USD
CY2016Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
7600000 USD
CY2017Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
35600000 USD
CY2015 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
38300000 USD
CY2016 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
17900000 USD
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
17200000 USD
CY2017 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
-27400000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
15300000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
10200000 USD
CY2017 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
10400000 USD
CY2015 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
0 USD
CY2016 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-1300000 USD
CY2017 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-5500000 USD
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100000 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
CY2016Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
174000000 USD
CY2017Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
169400000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
174000000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
169400000 USD
CY2015 us-gaap Interest Expense
InterestExpense
28600000 USD
CY2016 us-gaap Interest Expense
InterestExpense
43700000 USD
CY2017 us-gaap Interest Expense
InterestExpense
49300000 USD
CY2015 us-gaap Interest Paid
InterestPaid
25200000 USD
CY2016 us-gaap Interest Paid
InterestPaid
40000000 USD
CY2017 us-gaap Interest Paid
InterestPaid
47700000 USD
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
139100000 USD
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
171300000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
1569400000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
1719100000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2254400000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2359400000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
468100000 USD
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
453200000 USD
CY2016Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
207600000 USD
CY2017Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
188200000 USD
CY2016Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
92300000 USD
CY2017Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
54800000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
921700000 USD
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
1129200000 USD
CY2016Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
14200000 USD
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
4000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
880000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
246000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
4000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4000000 USD
CY2017Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4000000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
907500000 USD
CY2017Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1125200000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-190600000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-201900000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-59500000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-65500000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50700000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-153600000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
264500000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
226800000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
218200000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
65200000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
108100000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
140500000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
64600000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
107100000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
140400000 USD
CY2015 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
65200000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
108100000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
140500000 USD
CY2015 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
70800000 USD
CY2016 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
96700000 USD
CY2017 us-gaap Net Income Loss From Continuing Operations Available To Common Shareholders Diluted
NetIncomeLossFromContinuingOperationsAvailableToCommonShareholdersDiluted
122400000 USD
CY2015 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-10900000 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25100000 USD
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-43200000 USD
CY2016Q4 us-gaap Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
594700000 USD
CY2017Q4 us-gaap Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
492300000 USD
CY2017 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
6 Segment
CY2017Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
8 state
CY2015 us-gaap Operating Expenses
OperatingExpenses
672300000 USD
CY2016 us-gaap Operating Expenses
OperatingExpenses
649900000 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
736900000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
126300000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
12500000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
113600000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
14000000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
32400000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
172500000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
8400000 USD
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
123300000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
26800000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-12800000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
145700000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
21800000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5200000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1900000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3400000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3800000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4300000 USD
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
3200000 USD
CY2015 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
3500000 USD
CY2016 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
3400000 USD
CY2017 us-gaap Operating Leases Rent Expense Contingent Rentals
OperatingLeasesRentExpenseContingentRentals
3600000 USD
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
19700000 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
18900000 USD
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
18300000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
17800000 USD
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
18900000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9900000 USD
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
13600000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-500000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
200000 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-100000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-200000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-100000 USD
CY2017 us-gaap Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
-100000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-500000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-600000 USD
CY2017 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-100000 USD
CY2015 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
0 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
800000 USD
CY2017 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
0 USD
CY2016 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
500000 USD
CY2015 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
0 USD
CY2016 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
-2300000 USD
CY2017 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
1500000 USD
CY2015 us-gaap Other Expenses
OtherExpenses
16300000 USD
CY2016 us-gaap Other Expenses
OtherExpenses
16500000 USD
CY2017 us-gaap Other Expenses
OtherExpenses
17800000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
13900000 USD
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16000000 USD
CY2015 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4600000 USD
CY2016 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2000000 USD
CY2017 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1700000 USD
CY2015 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
6500000 USD
CY2016 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1200000 USD
CY2017 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1300000 USD
CY2015 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
16600000 USD
CY2016 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
16900000 USD
CY2017 us-gaap Other Sales Revenue Net
OtherSalesRevenueNet
19200000 USD
CY2015 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3700000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
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CY2017 us-gaap Nature Of Operations
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<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;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><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;">Churchill Downs Incorporated (the "Company", "we", "us", "our") is an industry-leading racing, gaming and online entertainment company anchored by our iconic flagship event - </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">The Kentucky Derby</font><font style="font-family:inherit;font-size:10pt;">. We are a leader in brick-and-mortar casino gaming with approximately </font><font style="font-family:inherit;font-size:10pt;">10,000</font><font style="font-family:inherit;font-size:10pt;"> gaming positions in </font><font style="font-family:inherit;font-size:10pt;">eight</font><font style="font-family:inherit;font-size:10pt;"> states, and we are the largest, legal online account wagering platform for horseracing in the U.S. We were organized as a Kentucky corporation in 1928, and our principal executive offices are located in Louisville, Kentucky.</font></div><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;">On November 29, 2017, the Company entered into a definitive Stock Purchase Agreement (the &#8220;Stock Purchase Agreement&#8221;) to sell its mobile gaming subsidiary, Big Fish Games, Inc., a Washington corporation (&#8220;Big Fish Games&#8221;), to Aristocrat Technologies, Inc., a Nevada corporation (the &#8220;Purchaser&#8221;), an indirect, wholly owned subsidiary of Aristocrat Leisure Limited, an Australian corporation (the &#8220;Big Fish Transaction&#8221;). On January 9, 2018, pursuant to the Stock Purchase Agreement, the Company completed the Big Fish Transaction. The Purchaser paid an aggregate consideration of </font><font style="font-family:inherit;font-size:10pt;">$990.0 million</font><font style="font-family:inherit;font-size:10pt;"> in cash in connection with the Big Fish Transaction, subject to customary adjustments for working capital and indebtedness and certain other adjustments as set forth in the Stock Purchase Agreement.</font></div><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 Big Fish Games segment and related Big Fish Transaction meet the criteria for held for sale and discontinued operation presentation. Accordingly, the Consolidated Statements of Comprehensive Income, Consolidated Balance Sheets, and the notes to financial statements reflect the Big Fish Games segment as discontinued operations for all periods presented. Unless otherwise specified, disclosures in these consolidated financial statements reflect continuing operations only. The Consolidated Statements of Cash Flows includes both continuing and discontinued operations. Refer to Note 3, Discontinued Operations, for further information on the discontinued operations relating to the Big Fish Transaction.</font></div><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;">We conduct our business through our operating segments and report our net revenue and operating expense associated with our operating segments in our accompanying Consolidated Statements of Comprehensive Income. Our operating segments, all of which are included in continuing operations with the exception of Big Fish Games, are defined as follows:</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Racing</font><font style="font-family:inherit;font-size:10pt;">: primarily commissions earned on wagering at our racetracks, off-track betting facilities ("OTBs"), simulcast fees earned from other wagering sites, and operations including admissions, sponsorships and licensing rights, food and beverage services and alternative uses of our pari-mutuel facilities.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Casino</font><font style="font-family:inherit;font-size:10pt;">: slot machines, table games, video poker ancillary food and beverage services and hotel and other miscellaneous operations. In addition, we include our </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> joint venture in Miami Valley Gaming ("MVG"), our </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> equity investment in Saratoga Casino Holdings LLC ("SCH"), and an effective </font><font style="font-family:inherit;font-size:10pt;">62.5%</font><font style="font-family:inherit;font-size:10pt;"> equity investment in Ocean Downs.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">TwinSpires</font><font style="font-family:inherit;font-size:10pt;">: mobile and online pari-mutuel wagering business on TwinSpires.com, high dollar wagering by international customers ("Velocity") and horseracing statistical data generated by our information business that provides data information and processing services to the equine industry.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Investments</font><font style="font-family:inherit;font-size:10pt;">: pari-mutuel wagering systems for racetracks and other investments.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Corporate</font><font style="font-family:inherit;font-size:10pt;">: other revenue and general and administrative expense not allocated to our other operating segments.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Big Fish Games</font><font style="font-family:inherit;font-size:10pt;">: social casino, casual and mid-core free to play, and premium paid games for PC, Mac, and mobile devices. Refer to Note 3, Discontinued Operations, for further information relating to the Big Fish Transaction.</font></div></div>
CY2017 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;">We have reclassified certain items in the accompanying Consolidated Financial Statements for prior years to be comparable with 2017 classifications. Effective January 1, 2017, certain revenue previously included in our Corporate segment was deemed by management to be more closely aligned with our TwinSpires segment. The prior year amounts were reclassified to conform to this presentation. </font></div><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;">There was no impact from these reclassifications on net income or cash flows.</font></div></div>
CY2017 us-gaap Use Of Estimates
UseOfEstimates
<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;">Our financial statements have been prepared in conformity with U.S. generally accepted accounting principles ("GAAP") and are based upon certain critical accounting policies. These policies may require management to make estimates, judgments and assumptions that we believe are reasonable based on our historical experience, contract terms, observance of known trends in our Company and the industry as a whole and information available from other outside sources. Our estimates affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results may differ from those initial estimates. Our most critical estimates relate to revenue recognition, goodwill and other intangible assets, and property and equipment.</font></div></div>

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