Churchill Downs Incorporated (CHDN)

Churchill Downs Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	430.7	426.8	417.3	439.4	249.1	-81.9
Depreciation & Amortization	213.1	191.7	164	108.3	98.2	88.5
Other Amortization	13	13	11.2	10.7	10.3	9.4
Loss (Gain) From Sale of Assets	-	-	-114	-274.6	-	-
Asset Writedown & Restructuring Costs	6.3	3.9	24.6	38.3	15.3	17.5
Loss (Gain) on Equity Investments	-20	-6.2	8.8	4.2	-33.8	3
Stock-Based Compensation	30.8	36.1	32.9	31.8	27.8	23.7
Other Operating Activities	39.8	56.5	52.8	116.1	15.1	34.4
Change in Unearned Revenue	-3.4	-12.1	34.2	-12.7	10.7	-8.3
Change in Income Taxes	23.8	-4.5	-1.1	28.2	12.9	-34.6
Change in Other Net Operating Assets	52	66.5	-25.4	21.1	53.9	-3.9
Operating Cash Flow	786.1	772.7	605.8	536.8	335.5	141.9
Operating Cash Flow Growth	16.39%	27.55%	12.85%	60.00%	136.43%	-51.00%
Capital Expenditures	-419.8	-547	-676.5	-423.5	-91.8	-234.2
Cash Acquisitions	-	-	-241.3	-2,919	-	-
Sale (Purchase) of Intangibles	-	-	-	-33.3	-	-
Sale (Purchase) of Real Estate	-	-	195.7	279	-	-
Other Investing Activities	-1.4	1.8	4.1	-7.4	-8.6	-5.2
Investing Cash Flow	-421.2	-545.2	-718	-3,104	-100.4	-239.4
Short-Term Debt Issued	-	-	2	13.3	-	13.4
Long-Term Debt Issued	-	965.5	1,771	2,862	780.8	726.1
Total Debt Issued	987	965.5	1,773	2,876	780.8	739.5
Short-Term Debt Repaid	-	-10.9	-	-	-10.5	-
Long-Term Debt Repaid	-	-900.8	-1,536	-205.4	-430.9	-580.4
Total Debt Repaid	-865.1	-911.7	-1,536	-205.4	-441.4	-580.4
Net Debt Issued (Repaid)	121.9	53.8	237.1	2,670	339.4	159.1
Issuance of Common Stock	-	-	14.4	-	-	-
Repurchase of Common Stock	-395.8	-216.1	-81.4	-203.3	-310.4	-47.1
Common Dividends Paid	-30.6	-29.2	-27.1	-26	-24.8	-23.4
Other Financing Activities	-5.7	-5.1	-13.7	-25	-4.7	-12.6
Financing Cash Flow	-310.2	-196.6	129.3	2,416	-0.5	76
Net Cash Flow	54.7	30.9	17.1	-150.9	234.6	-21.5
Free Cash Flow	366.3	225.7	-70.7	113.3	243.7	-92.3
Free Cash Flow Growth	1797.93%	-	-	-53.51%	-	-
Free Cash Flow Margin	12.95%	8.25%	-2.87%	6.26%	15.26%	-8.76%
Free Cash Flow Per Share	4.95	3.02	-0.93	1.47	3.11	-1.15
Cash Interest Paid	296.4	306.8	283.6	133.6	77.5	79.6
Cash Income Tax Paid	79.7	103	98.2	7	72.4	1.6
Levered Free Cash Flow	125.6	-52.33	-201.48	35.41	109.11	-33.11
Unlevered Free Cash Flow	308.35	128.8	-33.73	127.48	162.05	16.89
Change in Net Working Capital	-30	3	-63.8	-182.1	74.7	-80.3

Updated Jul 23, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q