2021 Q4 Form 8-K Financial Statement

#000002021222000083 Filed on April 26, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $364.8M $393.0M $515.1M
YoY Change 31.13% 16.34% 178.28%
Cost Of Revenue $271.0M $267.5M $318.1M
YoY Change 39.48% 17.07% 110.24%
Gross Profit $93.80M $125.5M $197.0M
YoY Change 11.8% 14.82% 482.84%
Gross Profit Margin 25.71% 31.93% 38.25%
Selling, General & Admin $38.80M $36.10M $33.40M
YoY Change 31.53% -6.96% 49.11%
% of Gross Profit 41.36% 28.76% 16.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.30M $25.90M $26.00M
YoY Change -4.17% 15.63% 17.65%
% of Gross Profit 26.97% 20.64% 13.2%
Operating Expenses $330.1M $325.4M $379.7M
YoY Change 29.2% 12.87% 104.69%
Operating Profit $34.70M $67.60M $135.4M
YoY Change 52.86% 36.57% -33950.0%
Interest Expense $18.60M $21.70M $22.00M
YoY Change -400.0% 10.15% 8.37%
% of Operating Profit 53.6% 32.1% 16.25%
Other Income/Expense, Net $400.0K $20.10M $14.50M
YoY Change 100.0% 168.0% -146.62%
Pretax Income $53.70M $87.70M $149.9M
YoY Change 221.56% 53.86% -575.87%
Income Tax $10.40M $26.30M $41.60M
% Of Pretax Income 19.37% 29.99% 27.75%
Net Earnings $43.30M $61.40M $108.3M
YoY Change 153.22% 42.13% -191.16%
Net Earnings / Revenue 11.87% 15.62% 21.03%
Basic Earnings Per Share $1.59 $2.80
Diluted Earnings Per Share $1.113M $1.57 $2.76
COMMON SHARES
Basic Shares Outstanding 38.25M shares 38.60M shares 38.70M shares
Diluted Shares Outstanding 39.20M shares 39.30M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $291.3M $315.7M $342.2M
YoY Change 332.2% -49.24% -47.29%
Cash & Equivalents $291.3M $315.7M $342.2M
Short-Term Investments
Other Short-Term Assets $37.60M $36.50M $31.70M
YoY Change 33.33% 9.61% -7.85%
Inventory
Prepaid Expenses
Receivables $42.30M $50.60M $50.40M
Other Receivables $66.00M $54.70M $39.10M
Total Short-Term Assets $501.5M $528.1M $532.6M
YoY Change 113.31% -34.53% -34.87%
LONG-TERM ASSETS
Property, Plant & Equipment $994.9M $1.053B $1.058B
YoY Change -6.12% -2.63% 1.38%
Goodwill $366.8M $366.8M $366.8M
YoY Change 0.0% 0.0% 0.0%
Intangibles $348.1M $349.3M $348.2M
YoY Change -0.71% -0.71% -0.74%
Long-Term Investments $663.6M $655.1M $644.6M
YoY Change 5.23% 3.33% 4.74%
Other Assets $18.90M $20.80M $20.80M
YoY Change -10.85% -5.45% -5.88%
Total Long-Term Assets $2.480B $2.445B $2.438B
YoY Change -9.7% -0.45% 1.66%
TOTAL ASSETS
Total Short-Term Assets $501.5M $528.1M $532.6M
Total Long-Term Assets $2.480B $2.445B $2.438B
Total Assets $2.982B $2.974B $2.971B
YoY Change 0.0% -8.87% -7.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $81.60M $92.40M $124.5M
YoY Change 15.42% -14.6% 17.67%
Accrued Expenses $111.3M $135.9M $125.1M
YoY Change 0.09% 3.82% 16.7%
Deferred Revenue $47.70M
YoY Change 45.43%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.000M $7.000M $7.000M
YoY Change 75.0% 75.0% 75.0%
Total Short-Term Liabilities $395.0M $352.5M $369.5M
YoY Change -6.88% -25.16% -24.31%
LONG-TERM LIABILITIES
Long-Term Debt $1.961B $1.962B $1.963B
YoY Change 21.18% -9.32% -9.28%
Other Long-Term Liabilities $52.60M $51.00M $55.70M
YoY Change 14.85% 39.34% 46.19%
Total Long-Term Liabilities $2.014B $51.00M $55.70M
YoY Change 21.0% 39.34% 46.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $395.0M $352.5M $369.5M
Total Long-Term Liabilities $2.014B $51.00M $55.70M
Total Liabilities $2.675B $2.635B $2.653B
YoY Change 15.33% -8.86% -8.3%
SHAREHOLDERS EQUITY
Retained Earnings $307.7M $339.7M $309.5M
YoY Change -12.04% -5.01% -1.71%
Common Stock $0.00 $0.00 $8.800M
YoY Change -100.0% -100.0% 44.26%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $306.8M $338.8M $317.4M
YoY Change
Total Liabilities & Shareholders Equity $2.982B $2.974B $2.971B
YoY Change 10.99% -8.87% -7.63%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $43.30M $61.40M $108.3M
YoY Change 153.22% 42.13% -191.16%
Depreciation, Depletion And Amortization $25.30M $25.90M $26.00M
YoY Change -4.17% 15.63% 17.65%
Cash From Operating Activities $68.50M $56.70M $230.1M
YoY Change 1389.13% -6.13% 588.92%
INVESTING ACTIVITIES
Capital Expenditures -$39.70M -$22.50M -$17.30M
YoY Change 64.73% -71.45% -79.16%
Acquisitions
YoY Change
Other Investing Activities -$5.500M -$2.200M -$900.0K
YoY Change 120.0% 0.0% 80.0%
Cash From Investing Activities -$45.20M -$24.70M -$18.20M
YoY Change 69.92% -69.51% -78.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -54.00M -57.10M 3.800M
YoY Change -89.94% -4858.33% -17.39%
NET CHANGE
Cash From Operating Activities 68.50M 56.70M 230.1M
Cash From Investing Activities -45.20M -24.70M -18.20M
Cash From Financing Activities -54.00M -57.10M 3.800M
Net Change In Cash -30.70M -25.10M 215.7M
YoY Change -94.5% 29.38% -574.07%
FREE CASH FLOW
Cash From Operating Activities $68.50M $56.70M $230.1M
Capital Expenditures -$39.70M -$22.50M -$17.30M
Free Cash Flow $108.2M $79.20M $247.4M
YoY Change 277.0% -43.1% 112.54%

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PreOpeningCosts
1700000 USD
CY2021Q4 us-gaap Pre Opening Costs
PreOpeningCosts
2000000.0 USD
CY2021 us-gaap Pre Opening Costs
PreOpeningCosts
5800000 USD
CY2020 us-gaap Pre Opening Costs
PreOpeningCosts
11200000 USD
CY2021Q1 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
9600000 USD
CY2021Q2 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
10500000 USD
CY2021Q3 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
10700000 USD
CY2021Q4 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
10700000 USD
CY2021 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
41500000 USD
CY2020 chdn Equity Investments Interest Depreciation And Amortization Expense
EquityInvestmentsInterestDepreciationAndAmortizationExpense
38500000 USD
CY2021Q1 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-4200000 USD
CY2021Q2 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-1800000 USD
CY2021Q3 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-2000000.0 USD
CY2021Q4 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-4900000 USD
CY2021 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
-12900000 USD
CY2020 chdn Fair Value Of Interest Rate Swaps
FairValueOfInterestRateSwaps
12900000 USD
CY2021Q1 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
1300000 USD
CY2021Q2 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
6700000 USD
CY2021Q3 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
600000 USD
CY2021Q4 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
1300000 USD
CY2021 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
9900000 USD
CY2020 chdn Legal Reserves And Transaction Costs
LegalReservesAndTransactionCosts
0 USD
CY2021Q1 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
100000 USD
CY2021Q2 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
0 USD
CY2021Q3 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
2000000.0 USD
CY2021Q4 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
5800000 USD
CY2021 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
7900000 USD
CY2020 chdn Acquisition Related Contingent Consideration Costs
AcquisitionRelatedContingentConsiderationCosts
1000000.0 USD
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2021Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
11200000 USD
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2021Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
4100000 USD
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
15300000 USD
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
17500000 USD
CY2021Q1 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-12900000 USD
CY2021Q2 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-35400000 USD
CY2021Q3 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-20800000 USD
CY2021Q4 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-26400000 USD
CY2021 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-95500000 USD
CY2020 chdn Adjustments To Earnings Before Interest Tax Depreciation And Amortization
AdjustmentsToEarningsBeforeInterestTaxDepreciationAndAmortization
-105600000 USD
CY2021Q1 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
110600000 USD
CY2021Q2 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
233300000 USD
CY2021Q3 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
156100000 USD
CY2021Q4 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
127000000.0 USD
CY2021 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
627000000.0 USD
CY2020 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
286500000 USD
CY2021Q1 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
110600000 USD
CY2021Q2 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
233300000 USD
CY2021Q3 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
156100000 USD
CY2021Q4 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
127000000.0 USD
CY2021 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
627000000.0 USD
CY2020 chdn Adjusted Earnings Before Interest Tax Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxDepreciationAndAmortization
286500000 USD

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