XML 29 R14.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Other Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2018
Intangible Assets, Net (Excluding Goodwill) [Abstract] |
Other Intangible Assets | OTHER INTANGIBLE ASSETS Other intangible assets, net are comprised of the following:
| December 31, 2018 |  | December 31, 2017
(in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Favorable contracts | $ | 11.0 |  |  | $ | (7.5 | ) |  | $ | 3.5 |  |  | $ | 11.0 |  |  | $ | (6.8 | ) |  | $ | 4.2 |
Other | 9.5 |  |  | (2.3 | ) |  | 7.2 |  |  | 7.1 |  |  | (1.5 | ) |  | 5.6 |
Customer relationships | 6.4 |  |  | (2.5 | ) |  | 3.9 |  |  | 16.7 |  |  | (10.6 | ) |  | 6.1 |
Gaming licenses | 5.2 |  |  | (1.8 | ) |  | 3.4 |  |  | 5.0 |  |  | (1.7 | ) |  | 3.3 |
| $ | 32.1 |  |  | $ | (14.1 | ) |  | $ | 18.0 |  |  | $ | 39.8 |  |  | $ | (20.6 | ) |  | $ | 19.2 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Trademarks |  |  |  |  | 29.5 |  |  |  |  |  |  | 21.2 |
Gaming rights |  |  |  |  | 216.4 |  |  |  |  |  |  | 128.9 |
Other |  |  |  |  | 0.1 |  |  |  |  |  |  | 0.1 |
Total |  |  |  |  | $ | 264.0 |  |  |  |  |  |  | $ | 169.4 |
In 2018, we established indefinite-lived intangible assets of $87.0 million for gaming rights and $8.3 million for trademarks related to the Ocean Downs/Saratoga Transaction. We also established definite-lived intangible assets of $2.3 million relating to the opening of Derby City Gaming and $0.1 million relating to the Ocean Downs/Saratoga Transaction for other intangibles. In 2017, we established definite-lived intangible assets of $4.7 million for customer relationships and $3.4 million for other intangibles related to the BetAmerica acquisition. Amortization expense for definite-lived intangible assets was approximately $6.0 million in 2018, $6.8 million in 2017, and $9.4 million in 2016 and is classified in operating expense in the accompanying consolidated statements of comprehensive income. We submitted payments of $2.3 million in 2018 and 2017 for annual license fees for Calder, which are being amortized to expense over the annual license period. Indefinite-lived intangible assets consist primarily of trademarks and state gaming rights in Maine, Maryland, Mississippi and Louisiana. We performed our annual indefinite-lived intangible assets impairment analysis as of April 1, 2018, which included an assessment of qualitative and quantitative factors to determine whether it is more likely than not that the fair values of the indefinite-lived intangible assets are less than the carrying amount. We concluded that the fair values of our indefinite-lived intangible assets exceeded their carrying value, and therefore step two of the assessment was not required. During the fourth quarter of 2017, the Company recorded a $4.7 million non-cash impairment charge related to our Bluff operations ($4.5 million for a trademark and $0.2 million related to customer relationships), which is included in our Online Wagering segment, and a $3.3 million non-cash impairment charge related to our Illinois Horseracing Equity Trust, which is included in our Racing segment. These impairments were due to changes in the business climate in the fourth quarter of 2017 that resulted in projected future cash flows being less than carrying value. Future estimated aggregate amortization expense on existing definite-lived intangible assets for each of the next five fiscal years is as follows (in millions):
Years Ended December 31, |  | Estimated Amortization Expense
2019 |  | $ | 3.3 |
2020 |  | 1.9 |
2021 |  | 1.8 |
2022 |  | 1.8 |
2023 |  | 1.8 |
Future estimated amortization expense does not include additional payments of $2.3 million in 2019 and in each year thereafter for the ongoing amortization of future expected annual Florida slots gaming license fees not yet incurred or paid.

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration