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Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2017
Segment Information |
Segment Information | 9. Segment Information The following tables (in thousands) present certain information with respect to the Company’s segments. Intersegment revenues between the Company’s segments were not material in any of the periods presented below. The income (loss) from operations by segment presented below does not include allocations for corporate overhead costs or expenses associated with utilizing property subject to the Master Lease.
Three months ended June 30, 2017 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 108,119 |  | $ | 20,062 |  | $ | 59,283 |  | $ | (52,475) |  | $ | 134,989 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 1,801 |  |  | 1,801 |
Depreciation and amortization |  |  | 21,525 |  |  | 9,353 |  |  | 9,508 |  |  | 28,583 |  |  | 68,969 |
Contingent purchase price |  |  | 277 |  |  | — |  |  | 16 |  |  | 1,069 |  |  | 1,362 |
(Gain) loss on disposal of assets |  |  | (45) |  |  | (1) |  |  | 88 |  |  | 10 |  |  | 52 |
Impairment losses on Loans to the Jamul Tribe |  |  | — |  |  | 5,635 |  |  | — |  |  | — |  |  | 5,635 |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 5,286 |  |  | (265) |  |  | 5,021 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 1,309 |  |  | — |  |  | 1,309 |
Adjusted EBITDA |  | $ | 129,876 |  | $ | 35,049 |  | $ | 75,490 |  | $ | (21,277) |  | $ | 219,138 |
Three months ended June 30, 2016 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 103,695 |  | $ | 27,622 |  | $ | 57,446 |  | $ | (39,426) |  | $ | 149,337 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 1,582 |  |  | 1,582 |
Depreciation and amortization |  |  | 23,209 |  |  | 8,839 |  |  | 9,460 |  |  | 24,674 |  |  | 66,182 |
Contingent purchase price |  |  | 119 |  |  | — |  |  | — |  |  | — |  |  | 119 |
Loss on disposal of assets |  |  | (14) |  |  | 11 |  |  | (52) |  |  | 496 |  |  | 441 |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 3,744 |  |  | (196) |  |  | 3,548 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 2,571 |  |  | — |  |  | 2,571 |
Adjusted EBITDA |  | $ | 127,009 |  | $ | 36,472 |  | $ | 73,169 |  | $ | (12,870) |  | $ | 223,780 |
Six months ended June 30, 2017 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 210,752 |  | $ | 47,180 |  | $ | 120,813 |  | $ | (103,469) |  | $ | 275,276 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 3,974 |  |  | 3,974 |
Depreciation and amortization |  |  | 44,548 |  |  | 18,570 |  |  | 19,179 |  |  | 56,908 |  |  | 139,205 |
Contingent purchase price |  |  | 1,182 |  |  | — |  |  | 25 |  |  | 2,715 |  |  | 3,922 |
(Gain) loss on disposal of assets |  |  | (31) |  |  | 5 |  |  | 29 |  |  | 4 |  |  | 7 |
Impairment losses on Loans to the Jamul Tribe |  |  | — |  |  | 5,635 |  |  | — |  |  | — |  |  | 5,635 |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 10,290 |  |  | (721) |  |  | 9,569 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 3,260 |  |  | — |  |  | 3,260 |
Adjusted EBITDA |  | $ | 256,451 |  | $ | 71,390 |  | $ | 153,596 |  | $ | (40,589) |  | $ | 440,848 |
Six months ended June 30, 2016 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 204,616 |  | $ | 53,607 |  | $ | 115,670 |  | $ | (84,025) |  | $ | 289,868 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 3,037 |  |  | 3,037 |
Depreciation and amortization |  |  | 46,202 |  |  | 17,604 |  |  | 19,028 |  |  | 49,368 |  |  | 132,202 |
Contingent purchase price |  |  | (1,081) |  |  | — |  |  | — |  |  | — |  |  | (1,081) |
Loss on disposal of assets |  |  | 7 |  |  | (14) |  |  | (45) |  |  | (608) |  |  | (660) |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 8,462 |  |  | (305) |  |  | 8,157 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 5,141 |  |  | — |  |  | 5,141 |
Adjusted EBITDA |  | $ | 249,744 |  | $ | 71,197 |  | $ | 148,256 |  | $ | (32,533) |  | $ | 436,664 |
|  |  | Northeast |  |  | South/West |  |  | Midwest |  |  | Other (1) |  |  | Total |
|  | (in thousands) |
Three months ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 405,099 |  | $ | 153,151 |  | $ | 224,847 |  | $ | 13,366 |  | $ | 796,463 |
Capital expenditures |  |  | 5,533 |  |  | 11,924 |  |  | 7,345 |  |  | 1,002 |  |  | 25,804 |
Three months ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 401,516 |  | $ | 140,108 |  | $ | 220,256 |  | $ | 7,542 |  | $ | 769,422 |
Capital expenditures |  |  | 8,268 |  |  | 6,726 |  |  | 6,348 |  |  | 823 |  |  | 22,165 |
Six months ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 798,564 |  | $ | 292,970 |  | $ | 453,185 |  | $ | 27,968 |  | $ | 1,572,687 |
Capital expenditures |  |  | 9,523 |  |  | 20,546 |  |  | 11,676 |  |  | 1,215 |  |  | 42,960 |
Six months ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 794,722 |  | $ | 276,076 |  | $ | 441,334 |  | $ | 13,741 |  | $ | 1,525,873 |
Capital expenditures |  |  | 15,387 |  |  | 14,311 |  |  | 12,330 |  |  | 1,506 |  |  | 43,534 |
Balance sheet at June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 808,144 |  | $ | 876,910 |  | $ | 1,081,316 |  | $ | 2,217,649 |  | $ | 4,984,019 |
Investment in and advances to unconsolidated affiliates |  |  | 76 |  |  | — |  |  | 91,058 |  |  | 61,779 |  |  | 152,913 |
Goodwill and other intangible assets, net |  |  | 324,285 |  |  | 260,978 |  |  | 778,056 |  |  | 92,900 |  |  | 1,456,219 |
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 |
(1) 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 was sold on July 31, 2016, Sanford Orlando Kennel Club and the Company’s Texas and New Jersey joint ventures, which do not have gaming operations. Other also includes Penn Interactive Ventures, which is a wholly-owned subsidiary that is pursuing our interactive gaming strategy and our recent acquisition of Rocket Speed.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: 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=68060357&loc=d3e8924-108599 Reference 14: 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=68060357&loc=d3e8906-108599 + Details
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