2020 Q4 Form 8-K Financial Statement

#000002021221000031 Filed on April 20, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $278.2M $337.8M $185.1M
YoY Change -0.86% 10.28% -61.23%
Cost Of Revenue $194.3M $228.5M $151.3M
YoY Change -9.67% 3.72% -43.71%
Gross Profit $83.90M $109.3M $33.80M
YoY Change 28.09% 27.09% -83.8%
Gross Profit Margin 30.16% 32.36% 18.26%
Selling, General & Admin $29.50M $38.80M $22.40M
YoY Change -9.51% 12.79% -25.58%
% of Gross Profit 35.16% 35.5% 66.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.40M $22.40M $22.10M
YoY Change -17.76% 1.82% 2.79%
% of Gross Profit 31.47% 20.49% 65.38%
Operating Expenses $255.5M $288.3M $185.5M
YoY Change 314.1% 3.52% -42.21%
Operating Profit $22.70M $49.50M -$400.0K
YoY Change 548.57% 78.06% -100.26%
Interest Expense -$6.200M $19.70M $20.30M
YoY Change -255.0% 4.23% 4.64%
% of Operating Profit -27.31% 39.8%
Other Income/Expense, Net $200.0K $7.500M -$31.10M
YoY Change -50.0% -263.04% 227.37%
Pretax Income $16.70M $57.00M -$31.50M
YoY Change 111.39% 145.69% -121.44%
Income Tax $300.0K $13.90M -$7.900M
% Of Pretax Income 1.8% 24.39%
Net Earnings $17.10M $43.20M -$118.8M
YoY Change 327.5% 191.89% -210.92%
Net Earnings / Revenue 6.15% 12.79% -64.18%
Basic Earnings Per Share $0.43 $1.09 -$3.00
Diluted Earnings Per Share $0.43 $1.08 -$3.00
COMMON SHARES
Basic Shares Outstanding 39.46M shares 39.50M shares 39.50M shares
Diluted Shares Outstanding 40.10M shares 39.50M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.40M $622.0M $649.2M
YoY Change -29.94% 227.71% 220.28%
Cash & Equivalents $67.40M $622.0M $649.2M
Short-Term Investments
Other Short-Term Assets $28.20M $33.30M $34.40M
YoY Change 4.83% 6.39% 13.91%
Inventory
Prepaid Expenses
Receivables $36.50M $53.00M $47.50M
Other Receivables $49.40M $40.70M $36.80M
Total Short-Term Assets $235.1M $806.6M $817.7M
YoY Change 6.28% 167.17% 134.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.060B $1.082B $1.043B
YoY Change 16.14% 20.84% 18.55%
Goodwill $366.8M $366.8M $366.8M
YoY Change -0.08% 0.82% 0.82%
Intangibles $350.6M $351.8M $350.8M
YoY Change -5.19% -1.12% -1.1%
Long-Term Investments $630.6M $634.0M $615.4M
YoY Change -0.61% 1.44% -1.03%
Other Assets $21.20M $22.00M $22.10M
YoY Change 0.47% 5.77% 12.18%
Total Long-Term Assets $2.747B $2.456B $2.398B
YoY Change 17.89% 8.66% 7.07%
TOTAL ASSETS
Total Short-Term Assets $235.1M $806.6M $817.7M
Total Long-Term Assets $2.747B $2.456B $2.398B
Total Assets $2.982B $3.263B $3.216B
YoY Change 16.88% 27.34% 24.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $70.70M $108.2M $105.8M
YoY Change 22.32% 42.74% -1.31%
Accrued Expenses $111.2M $130.9M $107.2M
YoY Change -10.75% 5.14% 2.19%
Deferred Revenue $32.80M
YoY Change -22.82%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000M $4.000M $4.000M
YoY Change 0.0% 0.0% 0.0%
Total Short-Term Liabilities $424.2M $471.0M $488.2M
YoY Change 40.84% 70.78% 58.1%
LONG-TERM LIABILITIES
Long-Term Debt $1.618B $2.164B $2.164B
YoY Change 10.1% 462.27% 461.18%
Other Long-Term Liabilities $45.80M $36.60M $38.10M
YoY Change 16.24% -5.91% -1.8%
Total Long-Term Liabilities $1.664B $36.60M $38.10M
YoY Change 10.26% -91.36% -91.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $424.2M $471.0M $488.2M
Total Long-Term Liabilities $1.664B $36.60M $38.10M
Total Liabilities $2.319B $2.891B $2.893B
YoY Change 13.69% 43.67% 42.16%
SHAREHOLDERS EQUITY
Retained Earnings $349.8M $357.6M $314.9M
YoY Change -31.3% -35.14% -42.88%
Common Stock $18.20M $15.50M $6.100M
YoY Change 110.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $367.1M $372.2M $320.1M
YoY Change
Total Liabilities & Shareholders Equity $2.686B $3.263B $3.216B
YoY Change 5.31% 27.34% 24.24%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $17.10M $43.20M -$118.8M
YoY Change 327.5% 191.89% -210.92%
Depreciation, Depletion And Amortization $26.40M $22.40M $22.10M
YoY Change -17.76% 1.82% 2.79%
Cash From Operating Activities $4.600M $60.40M $33.40M
YoY Change -84.35% 31.59% -76.81%
INVESTING ACTIVITIES
Capital Expenditures -$24.10M -$78.80M -$83.00M
YoY Change -51.99% 144.72% 57.2%
Acquisitions
YoY Change
Other Investing Activities -$2.500M -$2.200M -$500.0K
YoY Change -93.81% -51.11% -102.78%
Cash From Investing Activities -$26.60M -$81.00M -$83.50M
YoY Change -70.64% 120.71% 139.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -536.6M 1.200M 4.600M
YoY Change 1682.72% -105.74% -121.8%
NET CHANGE
Cash From Operating Activities 4.600M 60.40M 33.40M
Cash From Investing Activities -26.60M -81.00M -83.50M
Cash From Financing Activities -536.6M 1.200M 4.600M
Net Change In Cash -558.6M -19.40M -45.50M
YoY Change 511.83% 65.81% -151.65%
FREE CASH FLOW
Cash From Operating Activities $4.600M $60.40M $33.40M
Capital Expenditures -$24.10M -$78.80M -$83.00M
Free Cash Flow $28.70M $139.2M $116.4M
YoY Change -63.94% 78.23% -40.85%

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6200000 USD
CY2020Q4 us-gaap Pre Opening Costs
PreOpeningCosts
1400000 USD
CY2020 us-gaap Pre Opening Costs
PreOpeningCosts
11200000 USD
CY2019 us-gaap Pre Opening Costs
PreOpeningCosts
5100000 USD
CY2020Q1 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
9500000 USD
CY2020Q2 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
9800000 USD
CY2020Q3 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
9900000 USD
CY2020Q4 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
9300000 USD
CY2020 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
38500000 USD
CY2019 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
32600000 USD
CY2020Q1 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
14900000 USD
CY2020Q2 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
1300000 USD
CY2020Q3 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-1500000 USD
CY2020Q4 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-1800000 USD
CY2020 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
12900000 USD
CY2019 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
12400000 USD
CY2020Q1 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
0 USD
CY2020Q2 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
0 USD
CY2020Q3 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
0 USD
CY2020Q4 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
0 USD
CY2020 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
0 USD
CY2019 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
4700000 USD
CY2020Q1 chdn Other Charges Recoveries Net
OtherChargesRecoveriesNet
0 USD
CY2020Q2 chdn Other Charges Recoveries Net
OtherChargesRecoveriesNet
0 USD
CY2020Q3 chdn Other Charges Recoveries Net
OtherChargesRecoveriesNet
0 USD
CY2020Q4 chdn Other Charges Recoveries Net
OtherChargesRecoveriesNet
0 USD
CY2020 chdn Other Charges Recoveries Net
OtherChargesRecoveriesNet
0 USD
CY2019 chdn Other Charges Recoveries Net
OtherChargesRecoveriesNet
-200000 USD
CY2020Q1 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
300000 USD
CY2020Q2 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
200000 USD
CY2020Q3 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
500000 USD
CY2020Q4 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
0 USD
CY2020 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
1000000.0 USD
CY2019 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
5300000 USD
CY2020Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
17500000 USD
CY2020Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2020Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
17500000 USD
CY2019 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2020Q1 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-48200000 USD
CY2020Q2 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-19200000 USD
CY2020Q3 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-22800000 USD
CY2020Q4 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-15400000 USD
CY2020 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-105600000 USD
CY2019 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-87700000 USD
CY2020Q1 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
55300000 USD
CY2020Q2 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
30100000 USD
CY2020Q3 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
121900000 USD
CY2020Q4 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
79200000 USD
CY2020 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
286500000 USD
CY2019 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
451400000 USD
CY2020Q1 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
55300000 USD
CY2020Q2 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
30100000 USD
CY2020Q3 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
121900000 USD
CY2020Q4 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
79200000 USD
CY2020 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
286500000 USD
CY2019 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
451400000 USD

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