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CHURCHILL DOWNS INCORPORATED 2000ANNUAL REPORT consecutive years of record earnings We have kept our focus on the horizon, responded to the changing environment, and now are ready to go the distance. Financial Highlights Story in Brief 2000 1999 1998 1997 1996 (In thousands, except per share data) Operations: Pari-mutuel wagering * $3,244,160 $2,171,023 $1,062,763 $875,644 $817,060 Net revenues 362,016 258,427 147,300 118,907 107,859 Operating income 46,578 32,513 17,143 14,405 12,315 Other income (expense) (13,991) (6,658) 126 568 727 Net earnings 19,164 14,976 10,518 9,148 8,072 Basic net earnings per share 1.77 1.74 1.41 1.25 1.08 Diluted net earnings per share 1.75 1.72 1.40 1.25 1.08 Dividend declared 6,508 4,927 3,762 3,658 2,375 Annual dividend per share 0.50 0.50 0.50 0.25 0.25 Special dividend per share – – – 0.25 0.08 Additions to plant and equipment, exclusive of business acquisitions 22,419 12,083 3,524 4,568 2,571 Depreciation and amortization 17,286 11,306 5,744 4,559 4,814 At period end: Working capital (deficiency) surplus ($31,507) $800 ($7,791) ($8,032) ($10,789) Shareholders’ equity 202,485 138,121 65,231 53,393 47,781 Shareholders’ equity per share 15.55 14.02 8.67 7.30 6.54 Number of shareholders 3,420 3,350 3,100 3,100 3,100 * Pari-mutuel wagering provided for each year represents amounts wagered since acquisition/merger dates for Ellis Park, Calder Race Course, Hollywood Park and Arlington Park.
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