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Long-term Incentive Plan (Notes) | 6 Months Ended
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Jun. 30, 2015
LTIP [Abstract] |
Long-term Incentive Plan | NOTE 8 — LONG-TERM INCENTIVE PLAN During 2013, the Board of Directors approved the terms and conditions of performance share awards issued pursuant to the Churchill Downs Incorporated 2007 Omnibus stock incentive plan (the "New Company LTIP"). As a way to continue to encourage innovation, an entrepreneurial approach, and careful risk assessment, and in order to retain key executives, the New Company LTIP offers long-term incentive compensation to the Company's named executive officers and other key executives ("Grantees") as reported in the Company's Schedule 14A Proxy Statement filing. During the six months ended June 30, 2015, Grantees and certain Big Fish Games employees received approximately 129,700 restricted shares of the Company's common stock vesting over service periods ranging from seven months to three years. During 2013, the Grantees received 92,000 restricted shares of the Company's common stock vesting over approximately four years and 324,000 restricted shares of the Company's common stock with vesting contingent upon the Company's common stock reaching certain closing prices on NASDAQ for 20 consecutive trading days. During the years ended December 31, 2014 and 2013, the Company's closing stock price achieved the twenty consecutive trading days closing stock price requirement for 239,500 restricted shares. During the six months ended June 30, 2015, the Company's closing stock price achieved the stock price requirement for the final 84,500 restricted shares. During the three and six months ended June 30, 2015, the Company recognized $2.4 million and $4.2 million, respectively, of compensation expense included in selling general and administrative expenses related to service period awards under the New Company LTIP, which includes compensation expense for the Big Fish Games employee grant. As of June 30, 2015, unrecognized compensation expense attributable to unvested service period awards was $11.0 million. The weighted average period over which the Company expects to recognize the remaining compensation expense under service period awards approximates 17 months at June 30, 2015. There is no remaining unrecognized expense under the market condition awards. See Note 15, Subsequent Event, for discussion of the effect of an executive retirement on 2015 long-term incentive compensation expense.

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