Churchill Downs Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	200.6	175.5	144.5	129.8	291.3
Cash & Short-Term Investments	200.6	175.5	144.5	129.8	291.3
Cash Growth	14.30%	21.45%	11.33%	-55.44%	332.20%
Accounts Receivable	63.8	72.6	82.5	60.9	31.8
Other Receivables	46.7	40.6	37	34.6	76.5
Receivables	110.5	113.2	119.5	95.5	108.3
Restricted Cash	87.9	77.2	77.3	74.9	64.3
Other Current Assets	44.2	46.4	59.5	44.3	37.6
Total Current Assets	443.2	412.3	400.8	344.5	501.5
Property, Plant & Equipment	2,919	2,875	2,561	1,978	994.9
Long-Term Investments	684.6	661.2	655.9	659.4	663.6
Goodwill	900.2	900.2	899.9	723.8	366.8
Other Intangible Assets	2,515	2,409	2,418	2,392	348.1
Other Long-Term Assets	22.6	18.3	19.3	109	106.7
Total Assets	7,485	7,276	6,956	6,207	2,982
Accounts Payable	184.3	180.3	158.5	145.5	81.6
Accrued Expenses	166.8	164	145.3	113.7	63.8
Current Portion of Long-Term Debt	63.1	63.1	68	47	7
Current Portion of Leases	8.4	8.7	7.8	-	-
Current Income Taxes Payable	-	-	-	-	0.9
Current Unearned Revenue	122.4	116	131.9	96.8	95.2
Other Current Liabilities	188.3	197.2	244.3	218.6	146.5
Total Current Liabilities	733.3	729.3	755.8	621.6	395
Long-Term Debt	5,067	4,844	4,768	4,559	1,961
Long-Term Leases	58.4	-	-	-	-
Long-Term Unearned Revenue	15.4	20	11.8	11.8	13.3
Long-Term Deferred Tax Liabilities	519.9	432.7	388.2	340.8	252.9
Other Long-Term Liabilities	34.6	146.5	137.8	122.4	52.6
Total Liabilities	6,429	6,173	6,062	5,655	2,675
Retained Earnings	1,011	1,085	894.5	552.4	307.7
Comprehensive Income & Other	-1	-1	-0.9	-0.9	-0.9
Total Common Equity	1,010	1,084	893.6	551.5	306.8
Minority Interest	46.1	19.7	-	-	-
Shareholders' Equity	1,056	1,103	893.6	551.5	306.8
Total Liabilities & Equity	7,485	7,276	6,956	6,207	2,982
Total Debt	5,197	4,916	4,844	4,606	1,968
Net Cash (Debt)	-4,996	-4,740	-4,700	-4,476	-1,677
Net Cash Per Share	-69.59	-63.54	-61.76	-58.13	-21.39
Filing Date Shares Outstanding	69.7	73.55	73.68	74.76	76.18
Total Common Shares Outstanding	69.6	73.5	74.5	74.8	76.2
Working Capital	-290.1	-317	-355	-277.1	106.5
Book Value Per Share	14.51	14.74	11.99	7.37	4.03
Tangible Book Value	-2,406	-2,226	-2,425	-2,564	-408.1
Tangible Book Value Per Share	-34.57	-30.28	-32.55	-34.28	-5.36
Land	164.3	164.3	162.9	161.2	101.3
Machinery	1,143	1,047	865.6	746.5	570.8
Construction In Progress	102.5	140.3	668.5	353.7	65.8

Source: S&P Global Market Intelligence. Standard template. Financial Sources.