v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 167 $ 201
Restricted cash 92 88
Accounts receivable, net 106 93
Income taxes receivable 0 17
Other current assets 53 44
Total current assets 418 443
Property and equipment, net 2,921 2,919
Investment in and advances to unconsolidated affiliates 694 685
Goodwill 900 900
Other intangible assets, net 2,510 2,515
Other assets 24 23
Total assets 7,467 7,485
Current liabilities:    
Accounts payable 221 184
Accrued expenses and other current liabilities 403 400
Income taxes payable 3 0
Current deferred revenue 36 55
Current maturities of long-term debt and notes payable 659 63
Dividends payable 0 31
Total current liabilities 1,322 733
Long-term debt, net of current maturities and loan origination fees 1,578 1,986
Notes payable, net of current maturities and debt issuance costs 2,485 3,081
Non-current deferred revenue 12 15
Deferred income taxes 582 520
Other liabilities 85 94
Total liabilities 6,064 6,429
Commitments and contingencies
Redeemable noncontrolling interest 24 46
Shareholders' equity:    
Preferred stock 0 0
Common stock 0 0
Retained earnings 1,380 1,011
Accumulated other comprehensive loss (1) (1)
Total Churchill Downs Incorporated shareholders' equity 1,379 1,010
Total liabilities and shareholders' equity $ 7,467 $ 7,485