v3.26.3
Condensed Consolidated Statements of Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Net revenue:        
Net revenue $ 696 $ 683 $ 2,339 $ 2,260
Operating expense:        
Selling, general and administrative expense 60 59 180 175
Asset impairments, net 0 46 0 48
Transaction expense, net 4 1 6 3
Total operating expense 553 585 1,696 1,700
Operating income 143 98 643 560
Other (expense) income:        
Interest expense, net (69) (75) (211) (222)
Equity in income of unconsolidated affiliates 38 35 115 105
Miscellaneous, net (1) 3 5 6
Total other (expense) income (32) (37) (91) (111)
Income from operations before provision for income taxes 111 61 552 449
Income tax provision (31) (22) (147) (115)
Net income 80 39 405 334
Net income attributable to noncontrolling interests 0 1 1 2
Net income attributable to Churchill Downs Incorporated $ 80 $ 38 $ 404 $ 332
Net income attributable to Churchill Downs Incorporated per common share data:        
Basic net income (in dollars per share) $ 1.15 $ 0.54 $ 5.75 $ 4.59
Diluted net income (in dollars per share) $ 1.15 $ 0.54 $ 5.73 $ 4.55
Weighted average shares outstanding:        
Basic (in shares) 70 70 70 72
Diluted (in shares) 70 71 70 73
Live and Historical Racing        
Net revenue:        
Net revenue $ 308 $ 300 $ 1,148 $ 1,083
Operating expense:        
Operating expense 216 205 683 651
Wagering Services and Solutions        
Net revenue:        
Net revenue 116 118 392 383
Operating expense:        
Operating expense 76 77 240 235
Gaming        
Net revenue:        
Net revenue 272 265 799 794
Operating expense:        
Operating expense 195 192 575 575
All Other        
Net revenue:        
Net revenue 0 0 0 0
Operating expense:        
Operating expense $ 2 $ 5 $ 12 $ 13