v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 196 $ 201
Restricted cash 99 88
Accounts receivable, net 129 93
Income taxes receivable 0 17
Other current assets 60 44
Total current assets 484 443
Property and equipment, net 2,911 2,919
Investment in and advances to unconsolidated affiliates 690 685
Goodwill 900 900
Other intangible assets, net 2,513 2,515
Other assets 23 23
Total assets 7,521 7,485
Current liabilities:    
Accounts payable 261 184
Accrued expenses and other current liabilities 370 400
Income taxes payable 38 0
Current deferred revenue 27 55
Current maturities of long-term debt and notes payable 663 63
Dividends payable 0 31
Total current liabilities 1,359 733
Long-term debt, net of current maturities and loan origination fees 1,627 1,986
Notes payable, net of current maturities and debt issuance costs 2,483 3,081
Non-current deferred revenue 12 15
Deferred income taxes 562 520
Other liabilities 87 94
Total liabilities 6,130 6,429
Commitments and contingencies
Redeemable noncontrolling interest 50 46
Shareholders' equity:    
Preferred stock 0 0
Common stock 7 0
Retained earnings 1,335 1,011
Accumulated other comprehensive loss (1) (1)
Total Churchill Downs Incorporated shareholders' equity 1,341 1,010
Total liabilities and shareholders' equity $ 7,521 $ 7,485