Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill, by segment, is comprised of the following:

(in millions)	Churchill Downs		Online Wagering		Gaming		All Other		Total
Balances as of December 31, 2019	$	49.7	$	148.2	$	165.2	$	4.0	$	367.1
Adjustments	—		—		—		(0.3)		(0.3)
Balances as of June 30, 2020	$	49.7	$	148.2	$	165.2	$	3.7	$	366.8

We performed our annual goodwill impairment analysis as of April 1, 2020. We assessed goodwill for impairment by performing qualitative or quantitative analyses for each reporting unit. Based on the results of these analyses, no goodwill impairments were identified in connection with our annual impairment testing. During the second quarter we recorded an immaterial measurement period adjustment for the Turfway Park acquisition that impacted the All Other goodwill balance.

Other intangible assets are comprised of the following:

	June 30, 2020						December 31, 2019
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets	$	31.7	$	(16.9)	$	14.8	$	31.3	$	(15.0)	$	16.3
Indefinite-lived intangible assets					336.0						353.5
Total					$	350.8					$	369.8

Refer to Note 7, Asset Impairment, for information regarding intangible asset impairments recognized during the first quarter of 2020.

We performed our annual indefinite-lived intangible assets impairment analysis as of April 1, 2020. We assessed our indefinite-lived intangible assets for impairment by performing qualitative or quantitative analyses for each asset. Based on the results of these analyses, no indefinite-lived intangible asset impairments were identified in connection with our annual impairment testing.