Churchill Downs Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	180.5	175.5	144.5	129.8	291.3	67.4
Cash & Short-Term Investments	180.5	175.5	144.5	129.8	291.3	67.4
Cash Growth	18.21%	21.45%	11.33%	-55.44%	332.20%	-29.94%
Accounts Receivable	64.6	72.6	82.5	60.9	31.8	28.3
Other Receivables	25.1	40.6	37	34.6	76.5	57.6
Receivables	89.7	113.2	119.5	95.5	108.3	85.9
Restricted Cash	88	77.2	77.3	74.9	64.3	53.6
Other Current Assets	2.6	46.4	59.5	44.3	37.6	28.2
Total Current Assets	414.9	412.3	400.8	344.5	501.5	235.1
Property, Plant & Equipment	2,926	2,875	2,561	1,978	994.9	1,082
Long-Term Investments	674.9	661.2	655.9	659.4	663.6	630.6
Goodwill	900.2	900.2	899.9	723.8	366.8	366.8
Other Intangible Assets	2,518	2,409	2,418	2,392	348.1	350.6
Other Long-Term Assets	21.5	18.3	19.3	109	106.7	21.2
Total Assets	7,455	7,276	6,956	6,207	2,982	2,686
Accounts Payable	194	180.3	158.5	145.5	81.6	70.7
Accrued Expenses	191.2	164	145.3	113.7	63.8	38.8
Current Portion of Long-Term Debt	63.1	63.1	68	47	7	4
Current Portion of Leases	8.7	8.7	7.8	-	-	-
Current Income Taxes Payable	28	-	-	-	0.9	-
Current Unearned Revenue	94	116	131.9	96.8	95.2	70.9
Other Current Liabilities	146.2	197.2	244.3	218.6	146.5	239.8
Total Current Liabilities	725.2	729.3	755.8	621.6	395	424.2
Long-Term Debt	5,043	4,844	4,768	4,559	1,961	1,618
Long-Term Leases	95.2	57.5	-	-	-	-
Long-Term Unearned Revenue	18.5	20	11.8	11.8	13.3	17.1
Long-Term Deferred Tax Liabilities	490.8	432.7	388.2	340.8	252.9	213.9
Other Long-Term Liabilities	2.9	89	137.8	122.4	52.6	45.8
Total Liabilities	6,376	6,173	6,062	5,655	2,675	2,319
Common Stock	-	-	-	-	-	18.2
Retained Earnings	1,036	1,085	894.5	552.4	307.7	349.8
Comprehensive Income & Other	-1	-1	-0.9	-0.9	-0.9	-0.9
Total Common Equity	1,035	1,084	893.6	551.5	306.8	367.1
Minority Interest	44.2	19.7	-	-	-	-
Shareholders' Equity	1,079	1,103	893.6	551.5	306.8	367.1
Total Liabilities & Equity	7,455	7,276	6,956	6,207	2,982	2,686
Total Debt	5,210	4,973	4,844	4,606	1,968	1,622
Net Cash (Debt)	-5,030	-4,798	-4,700	-4,476	-1,677	-1,555
Net Cash Per Share	-68.88	-64.32	-61.76	-58.13	-21.39	-19.39
Filing Date Shares Outstanding	69.73	73.55	73.68	74.76	76.18	76.95
Total Common Shares Outstanding	69.8	73.5	74.5	74.8	76.2	79
Working Capital	-310.3	-317	-355	-277.1	106.5	-189.1
Book Value Per Share	14.83	14.74	11.99	7.37	4.03	4.65
Tangible Book Value	-2,383	-2,226	-2,425	-2,564	-408.1	-350.3
Tangible Book Value Per Share	-34.14	-30.28	-32.55	-34.28	-5.36	-4.43
Land	-	164.3	162.9	161.2	101.3	164.2
Machinery	-	1,047	865.6	746.5	570.8	567.6
Construction In Progress	-	140.3	668.5	353.7	65.8	23.3

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