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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The table below presents information about equity in (losses) earnings of unconsolidated investments included in the Company's reported segments for the years ended December 31, 2014, 2013 and 2012 (in thousands):
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Casinos | $ | 8,900 |  |  | $ | (3,718 | ) |  | $ | (610 | )
TwinSpires | (68 | ) |  | (848 | ) |  | (1,413 | )
Other Investments | (2,504 | ) |  | 424 |  |  | 322 |
| $ | 6,328 |  |  | $ | (4,142 | ) |  | $ | (1,701 | )
The tables below present total asset information about reported segments as of December 31, 2014 and 2013 and capital expenditures for the years ended December 31, 2014, 2013 and 2012 (in thousands):
| As of December 31,
| 2014 |  | 2013
Total assets: |  |  |
Racing | $ | 518,517 |  |  | $ | 513,345 |
Casinos | 621,240 |  |  | 622,038 |
TwinSpires | 182,322 |  |  | 186,621 |
Big Fish Games | 1,007,438 |  |  | — |
Other Investments | 30,757 |  |  | 30,257 |
| $ | 2,360,274 |  |  | $ | 1,352,261 |
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Capital expenditures, net: |  |  |  |  |
Racing | $ | 35,637 |  |  | $ | 20,184 |  |  | $ | 14,027 |
Casinos | 7,715 |  |  | 13,643 |  |  | 14,524 |
TwinSpires | 5,778 |  |  | 5,908 |  |  | 4,427 |
Big Fish Games | 116 |  |  | — |  |  | — |
Other Investments | 5,240 |  |  | 9,036 |  |  | 8,320 |
| $ | 54,486 |  |  | $ | 48,771 |  |  | $ | 41,298 |
The accounting policies of the segments are the same as those described in the “Summary of Significant Accounting Policies” in Note 1. The table below presents information about reported segments for the years ended December 31, 2014, 2013 and 2012 (in thousands):
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Net revenues from external customers: |  |  |  |  |
Churchill Downs | $ | 143,191 |  |  | $ | 132,845 |  |  | $ | 124,255 |
Arlington | 60,312 |  |  | 64,483 |  |  | 69,077 |
Calder | 19,325 |  |  | 36,264 |  |  | 64,566 |
Fair Grounds | 38,625 |  |  | 40,677 |  |  | 44,190 |
Total Racing | 261,453 |  |  | 274,269 |  |  | 302,088 |
Calder Casino | 77,003 |  |  | 78,951 |  |  | 77,864 |
Fair Grounds Slots | 40,774 |  |  | 42,156 |  |  | 42,881 |
VSI | 34,369 |  |  | 35,931 |  |  | 35,433 |
Harlow’s Casino | 50,199 |  |  | 52,440 |  |  | 56,604 |
Oxford Casino | 76,526 |  |  | 34,350 |  |  | — |
Riverwalk Casino | 50,139 |  |  | 53,645 |  |  | 10,330 |
Total Casinos | 329,010 |  |  | 297,473 |  |  | 223,112 |
TwinSpires | 190,333 |  |  | 184,541 |  |  | 183,279 |
Big Fish Games | 13,855 |  |  | — |  |  | — |
Other Investments | 17,125 |  |  | 21,899 |  |  | 21,785 |
Corporate | 1,158 |  |  | 1,143 |  |  | 1,032 |
Net revenues from external customers | $ | 812,934 |  |  | $ | 779,325 |  |  | $ | 731,296 |
Intercompany net revenues: |  |  |  |  |
Churchill Downs | $ | 7,038 |  |  | $ | 6,686 |  |  | $ | 5,592 |
Arlington | 5,767 |  |  | 3,395 |  |  | 4,712 |
Calder | 707 |  |  | 1,263 |  |  | 1,583 |
Fair Grounds | 1,089 |  |  | 1,151 |  |  | 1,270 |
Total Racing | 14,601 |  |  | 12,495 |  |  | 13,157 |
TwinSpires | 958 |  |  | 853 |  |  | 836 |
Other Investments | 4,130 |  |  | 4,409 |  |  | 3,466 |
Eliminations | (19,689 | ) |  | (17,757 | ) |  | (17,459 | )
Net revenues | $ | — |  |  | $ | — |  |  | $ | — |
Reconciliation of Assets from Segment to Consolidated |
| Year Ended December 31,
| 2014 |  | 2013 |  | 2012
Reconciliation of segment Adjusted EBITDA to net earnings: |  |  |  |  |
Racing | $ | 61,160 |  |  | $ | 50,275 |  |  | $ | 54,357 |
Casinos | 101,106 |  |  | 80,631 |  |  | 64,231 |
TwinSpires | 45,282 |  |  | 49,122 |  |  | 44,618 |
Big Fish Games | 3,837 |  |  | — |  |  | — |
Other Investments | (3,857 | ) |  | 809 |  |  | (117 | )
Total segment Adjusted EBITDA | 207,528 |  |  | 180,837 |  |  | 163,089 |
Corporate Adjusted EBITDA | (5,037 | ) |  | (4,606 | ) |  | (4,834 | )
Insurance recoveries, net of losses | 431 |  |  | 375 |  |  | 7,006 |
Big Fish Games acquisition charges | (3,826 | ) |  | — |  |  | — |
Big Fish Games transaction expenses | (6,367 | ) |  | — |  |  | — |
Big Fish Games changes in deferred revenue | (4,497 | ) |  | — |  |  | — |
HRE Trust Fund proceeds | — |  |  | 4,541 |  |  | — |
Share-based compensation expense | (11,932 | ) |  | (21,482 | ) |  | (13,993 | )
Pre-opening expenses | (27 | ) |  | (3,620 | ) |  | — |
MVG interest expense, net | (2,546 | ) |  | (170 | ) |  | — |
Asset impairment charges | (4,843 | ) |  | — |  |  | — |
Other charges | (3,287 | ) |  | (2,500 | ) |  | — |
Depreciation and amortization | (68,257 | ) |  | (61,750 | ) |  | (55,600 | )
Interest income (expense), net | (20,822 | ) |  | (6,119 | ) |  | (4,441 | )
Income tax provision | (30,161 | ) |  | (30,473 | ) |  | (33,075 | )
Earnings from continuing operations | 46,357 |  |  | 55,033 |  |  | 58,152 |
Discontinued operations, net of income taxes | — |  |  | (133 | ) |  | 124 |
Net earnings | 46,357 |  |  | 54,900 |  |  | 58,276 |
Foreign currency translation, net of tax | (125 | ) |  | — |  |  | — |
Comprehensive income | $ | 46,232 |  |  | $ | 54,900 |  |  | $ | 58,276 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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