UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______

FORM 10-Q ______(Mark One)

ý Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended August 31, 2016 OR ¨ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number: 000-02384 ______

INTERNATIONAL SPEEDWAY CORPORATION (Exact name of registrant as specified in its charter) ______

FLORIDA 59-0709342 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.)

ONE DAYTONA BOULEVARD, DAYTONA BEACH, FLORIDA 32114 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: (386) 254-2700 ______Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ý NO ¨ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES ý NO ¨ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ý Accelerated filer o Non-accelerated filer o (Do not check if a smaller reporting company) Smaller reporting company o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ¨ NO ý Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practical date:

Class A Common Stock 25,869,138 shares as of August 31, 2016 Class B Common Stock 19,770,282 shares as of August 31, 2016

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INTERNATIONAL SPEEDWAY CORPORATION FORM 10-Q FOR THE QUARTER ENDED AUGUST 31, 2016

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION 3 ITEM 1. FINANCIAL STATEMENTS 3 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 19 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 40 ITEM 4. CONTROLS AND PROCEDURES 40 PART II—OTHER INFORMATION 40 ITEM 1. LEGAL PROCEEDINGS 40 ITEM 1A. RISK FACTORS 40 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 40 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 41 ITEM 4. MINE SAFETY DISCLOSURES 41 ITEM 5. OTHER INFORMATION 41 ITEM 6. EXHIBITS 42 SIGNATURE 43

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PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS INTERNATIONAL SPEEDWAY CORPORATION Consolidated Balance Sheets

November 30, 2015 August 31, 2016 (Unaudited) (In Thousands, Except Share and Per Share Amounts) ASSETS Current Assets: Cash and cash equivalents $ 160,548 $ 265,329 Receivables, less allowance of $1,000 in 2015 and 2016, respectively 42,112 42,846 Inventories 1,639 1,731 Income taxes receivable 572 1,492 Prepaid expenses and other current assets 60,673 22,817 Total Current Assets 265,544 334,215 Property and Equipment, net of accumulated depreciation of $839,039 and $913,656 respectively 1,448,964 1,450,279 Other Assets: Equity investments 103,249 95,864 Intangible assets, net 178,626 178,630 Goodwill 118,791 118,791 Other 4,489 6,775 405,155 400,060 Total Assets $ 2,119,663 $ 2,184,554 LIABILITIES AND SHAREHOLDERS’ EQUITY Current Liabilities: Current portion of long-term debt $ 3,074 $ 3,115 Accounts payable 56,968 26,116 Deferred income 38,243 84,053 Other current liabilities 20,344 20,358 Total Current Liabilities 118,629 133,642 Long-Term Debt 262,762 262,386 Deferred Income Taxes 336,232 396,550 Long-Term Deferred Income 6,969 6,245 Other Long-Term Liabilities 1,856 2,443 Commitments and Contingencies — — Shareholders’ Equity: Class A Common Stock, $.01 par value, 80,000,000 shares authorized; 26,348,051 and 25,479,145 issued and outstanding in 2015 and 2016, respectively 263 255 Class B Common Stock, $.01 par value, 40,000,000 shares authorized; 19,942,136 and 19,770,282 issued and outstanding in 2015 and 2016, respectively 199 197 Additional paid-in capital 449,136 440,479 Retained earnings 946,940 945,182 Accumulated other comprehensive loss (3,323) (2,825) Total Shareholders’ Equity 1,393,215 1,383,288

Total Liabilities and Shareholders’ Equity $ 2,119,663 $ 2,184,554 See accompanying notes

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INTERNATIONAL SPEEDWAY CORPORATION Consolidated Statements of Operations

Three Months Ended August 31, 2015 August 31, 2016 (Unaudited) (In Thousands, Except Share and Per Share Amounts) REVENUES: Admissions, net $ 24,038 $ 22,835 Motorsports and other event related 86,628 90,245 Food, beverage and merchandise 10,521 10,845 Other 4,303 5,061 125,490 128,986 EXPENSES: Direct: NASCAR event management fees 31,824 31,330 Motorsports and other event related 34,503 31,973 Food, beverage and merchandise 9,266 8,553 General and administrative 27,446 27,221 Depreciation and amortization 24,224 25,996 Losses on asset retirements 5,365 176 132,628 125,249 Operating (loss) income (7,138) 3,737 Interest income 41 71 Interest expense (2,668) (3,625) Equity in net income from equity investments 3,486 3,346 Other (32) — (Loss) income before income taxes (6,311) 3,529 Income taxes (2,355) 1,356 Net (loss) income $ (3,956) $ 2,173

(Loss) earnings per share: Basic and diluted $ (0.08) $ 0.05

Basic weighted average shares outstanding 46,647,480 45,720,814

Diluted weighted average shares outstanding 46,647,480 45,734,854 See accompanying notes

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INTERNATIONAL SPEEDWAY CORPORATION Consolidated Statements of Operations

Nine Months Ended August 31, 2015 August 31, 2016 (Unaudited) (In Thousands, Except Share and Per Share Amounts) REVENUES: Admissions, net $ 87,842 $ 85,163 Motorsports and other event related 289,143 309,970 Food, beverage and merchandise 36,830 29,450 Other 12,237 14,594 426,052 439,177 EXPENSES: Direct: NASCAR event management fees 104,022 105,894 Motorsports and other event related 92,091 92,920 Food, beverage and merchandise 30,671 22,358 General and administrative 80,982 81,289 Depreciation and amortization 72,990 77,028 Losses on asset retirements 11,626 1,106 392,382 380,595 Operating income 33,670 58,582 Interest income 85 157 Interest expense (6,738) (10,398) Equity in net income from equity investments 11,232 11,485 Other 621 12,000 Income before income taxes 38,870 71,826 Income taxes 14,518 27,924 Net income $ 24,352 $ 43,902

Dividends per share $ 0.26 $ 0.41 Earnings per share: Basic and diluted $ 0.52 $ 0.95

Basic weighted average shares outstanding 46,611,656 46,189,413

Diluted weighted average shares outstanding 46,626,223 46,203,963 See accompanying notes

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INTERNATIONAL SPEEDWAY CORPORATION Consolidated Statements of Comprehensive Income

Three Months Ended August 31, 2015 August 31, 2016 (Unaudited) (In Thousands) Net (loss) income $ (3,956) $ 2,173 Other comprehensive income: Amortization of terminated interest rate swap, net of tax benefit of $106 and $104, respectively 164 166 Comprehensive income $ (3,792) $ 2,339

Nine Months Ended August 31, 2015 August 31, 2016 (Unaudited) (In Thousands) Net income $ 24,352 $ 43,902 Other comprehensive income: Amortization of terminated interest rate swap, net of tax benefit of $318 and $313, respectively 493 498 Comprehensive income $ 24,845 $ 44,400

See accompanying notes

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