Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of information with respect to the Company's segments


Year ended December 31, 2016	Northeast		South/West		Midwest		Other (1)		Total
Income (loss) from operations	$	397,524	$	92,629	$	223,180	$	(170,317)	$	543,016
Charge for stock compensation		—		—		—		6,871		6,871
Insurance recoveries		—		—		(726)		—		(726)
Depreciation and amortization		92,373		35,831		38,210		104,800		271,214
Contingent purchase price		(1,277)		—		6		2,548		1,277
Loss (gain) on disposal of assets		450		109		334		(3,364)		(2,471)
Income (loss) from unconsolidated affiliates		—		—		15,960		(1,623)		14,337
Non-operating items for Kansas JV		—		—		10,311		—		10,311
Adjusted EBITDA	$	489,070	$	128,569	$	287,275	$	(61,085)	$	843,829

Year ended December 31, 2015
Income (loss) from operations	$	328,567	$	102,380	$	225,526	$	(188,627)	$	467,846
Charge for stock compensation		—		—		—		8,223		8,223
Impairment losses		40,042		—		—		—		40,042
Depreciation and amortization		93,299		25,793		39,917		100,452		259,461
Contingent purchase price		(5,374)		—		—		—		(5,374)
Loss on disposal of assets		65		677		208		336		1,286
Income (loss) from unconsolidated affiliates		—		—		15,289		(801)		14,488
Non-operating items for Kansas JV		—		—		10,377		—		10,377
Adjusted EBITDA	$	456,599	$	128,850	$	291,317	$	(80,417)	$	796,349

Year ended December 31, 2014
Income (loss) from operations	$	297,674	$	101,156	$	37,362	$	(179,004)	$	257,188
Charge for stock compensation		—		—		—		10,666		10,666
Impairment losses		—		1,420		158,464		—		159,884
Insurance recoveries		—		—		(5,674)		—		(5,674)
Depreciation and amortization		87,018		19,493		61,389		98,842		266,742
Contingent purchase price		689		—		—		—		689
Loss (gain) on disposal of assets		54		183		523		(22)		738
Income (loss) from unconsolidated affiliates		—		51		10,669		(2,771)		7,949
Non-operating items for Kansas JV		—		—		11,809		—		11,809
Adjusted EBITDA	$	385,435	$	122,303	$	274,542	$	(72,289)	$	709,991


	Northeast		South/West		Midwest		Other (1)		Total
	(in thousands)
Year ended December 31, 2016
Net revenues	$	1,568,514	$	546,608	$	877,567	$	41,691	$	3,034,380
Capital expenditures		30,677		30,458		30,921		5,189		97,245

Year ended December 31, 2015
Net revenues	$	1,505,838	$	478,128	$	833,455	$	20,937	$	2,838,358
Capital expenditures		155,413		16,805		22,679		4,343		199,240

Year ended December 31, 2014
Net revenues	$	1,275,651	$	441,718	$	848,868	$	24,290	$	2,590,527
Capital expenditures		140,047		40,140		41,991		5,967		228,145

Balance sheet at December 31, 2016
Total assets		861,951		840,076		1,103,231		2,169,226		4,974,484
Investment in and advances to unconsolidated affiliates		76		—		93,768		62,332		156,176
Goodwill and other intangible assets, net		324,285		224,719		775,377		100,798		1,425,179

Balance sheet at December 31, 2015
Total assets		918,292		968,152		1,091,514		2,160,794		5,138,752
Investment in and advances to unconsolidated affiliates		84		—		103,608		64,457		168,149
Goodwill and other intangible assets, net		324,285		224,746		750,127		4,226		1,303,384

Includes depreciation expense associated with the real property assets under the Master Lease with GLPI. In addition, total assets include these assets. The interest expense associated with the financing obligation is reflected in the other category. Net revenues and income (loss) from unconsolidated affiliates relate to the Company’s stand-alone racing operations, namely Rosecroft Raceway, which the Company sold on July 31, 2016, Sanford Orlando Kennel Club and the Company’s Texas and New Jersey joint ventures (see Note 6 to the consolidated financial statements) which do not have gaming operations. Other also includes the recently created Penn Interactive Ventures, which is a wholly-owned subsidiary that is pursuing the Company’s interactive gaming strategy and its recent acquisition of Rocket Speed.