International Speedway (ISCB) 10-Q 3 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Aug. 31, 2019shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2019
Document Transition Report	false
Entity File Number	000-02384
Entity Registrant Name	INTERNATIONAL SPEEDWAY CORPORATION
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	59-0709342
Entity Address, Address Line One	ONE DAYTONA BOULEVARD,
Entity Address, City or Town	DAYTONA BEACH,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	32114
City Area Code	386
Local Phone Number	254-2700
Title of 12(b) Security	Class A Common Stock - $.01 par value
Trading Symbol	ISCA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000051548
Current Fiscal Year End Date	--11-30
Common Stock
Document Information [Line Items]
Title of 12(g) Security	Common Stock — $.10 par valu
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	23,874,277
Class B Common Stock
Document Information [Line Items]
Title of 12(g) Security	Class B Common Stock — $.01 par value
Entity Common Stock, Shares Outstanding	19,610,940

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2019	Nov. 30, 2018
Current Assets:
Cash and cash equivalents	$ 335,079	$ 269,011
Receivables, less allowance of $1,000 in 2018 and 2019, respectively	49,191	42,833
Income taxes receivable	17,428	0
Prepaid expenses and other current assets	22,202	10,611
Total Current Assets	423,900	322,455
Property and Equipment, net of accumulated depreciation of $1,129,378 and $1,215,037, respectively	1,502,432	1,515,041
Other Assets:
Equity investments	80,524	81,225
Intangible assets, net	179,826	178,563
Goodwill	118,872	118,331
Other	30,113	33,745
Total Other Assets, Total	409,335	411,864
Total Assets	2,335,667	2,249,360
Current Liabilities:
Current portion of long-term debt	4,644	4,284
Accounts payable	33,877	31,508
Deferred income	71,420	36,801
Income taxes payable	0	2,535
Other current liabilities	19,206	15,551
Total Current Liabilities	129,147	90,679
Long-Term Debt	250,477	251,381
Deferred Income Taxes	279,542	260,666
Long-Term Deferred Income	6,858	7,575
Other Long-Term Liabilities	3,088	3,101
Commitments and Contingencies	0	0
Shareholders’ Equity:
Additional paid-in capital	426,787	425,233
Retained earnings	1,239,927	1,211,499
Accumulated other comprehensive loss	(590)	(1,204)
Total Shareholders’ Equity	1,666,555	1,635,958
Total Liabilities and Shareholders’ Equity	2,335,667	2,249,360
Class A Common Stock $.01 Par Value
Shareholders’ Equity:
Common stock value	235	234
Class B Common Stock $.01 Par Value
Shareholders’ Equity:
Common stock value	$ 196	$ 196

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2019	Nov. 30, 2018
Allowance for receivables	$ 1,000	$ 1,000
Property and Equipment, accumulated depreciation	$ 1,215,037	$ 1,129,378
Class A Common Stock $.01 Par Value
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	80,000,000	80,000,000
Common Stock, shares issued (in shares)	23,513,811	23,408,516
Common Stock, shares outstanding (in shares)	23,513,811	23,408,516
Class B Common Stock $.01 Par Value
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	40,000,000	40,000,000
Common Stock, shares issued (in shares)	19,610,940	19,644,581
Common Stock, shares outstanding (in shares)	19,610,940	19,644,581

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Revenues [Abstract]
Revenues	$ 165,063	$ 159,278	$ 483,698	$ 479,832
Direct Expenses:
Other operating expenses	1,340	2,523	5,110	4,770
General and administrative	29,108	26,791	87,596	78,878
Depreciation and amortization	28,386	26,027	86,454	79,625
Losses on asset retirements	760	2,181	1,781	3,538
Costs and Expenses, Total	154,956	149,007	432,559	419,810
Operating income	10,107	10,271	51,139	60,022
Interest income	1,568	979	4,140	2,232
Interest expense	(3,647)	(2,551)	(11,085)	(8,336)
Equity in net income from equity investments	7,032	5,790	18,969	16,449
Other	429	11	429	26
Income before income taxes	15,489	14,500	63,592	70,393
Income taxes	2,383	2,469	13,858	(127,654)
Net income	$ 13,106	$ 12,031	$ 49,734	$ 198,047
Dividends per share (in dollars per share)			$ 0.49	$ 0.47
(Loss) earnings per share:
Basic (in usd per share)	$ 0.30	$ 0.27	1.14	4.49
Diluted (in usd per share)	$ 0.30	$ 0.27	$ 1.14	$ 4.48
Basic weighted average shares outstanding (shares)	43,483,743	44,110,349	43,448,897	44,154,848
Diluted weighted average shares outstanding (shares)	43,488,776	44,118,767	43,455,750	44,165,955
Admissions, net
Revenues [Abstract]
Revenues	$ 23,712	$ 24,365	$ 77,434	$ 80,604
Motorsports and other event related
Revenues [Abstract]
Revenues	119,158	117,405	352,582	356,519
Direct Expenses:
Direct Expenses	35,165	37,290	93,546	107,932
Food, beverage and merchandise
Revenues [Abstract]
Revenues	15,622	12,185	36,238	27,041
Direct Expenses:
Direct Expenses	12,747	9,930	27,442	20,757
Other
Revenues [Abstract]
Revenues	6,571	5,323	17,444	15,668
NASCAR event management fees
Direct Expenses:
Direct Expenses	$ 47,450	$ 44,265	$ 130,630	$ 124,310

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 13,106	$ 12,031	$ 49,734	$ 198,047
Other comprehensive income:
Amortization of terminated interest rate swap, net of tax benefit	205	200	614	589
Comprehensive income	$ 13,311	$ 12,231	$ 50,348	$ 198,636

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Statement of Comprehensive Income [Abstract]
Amortization of interest rate swap, net of tax benefit	$ 65	$ 70	$ 198	$ 223

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - 9 months ended Aug. 31, 2019 - USD ($) $ in Thousands	Total	Common StockClass A Common Stock $.01 Par Value	Common StockClass B Common Stock $.01 Par Value	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Balance at Nov. 30, 2018	$ 1,635,958	$ 234	$ 196	$ 425,233	$ 1,211,499	$ (1,204)
Activity 12/1/18 — 8/31/19:
Net income	49,734				49,734
Comprehensive income	614					614
Cash dividend ($0.49 per share)	(21,306)				(21,306)
Other	(1,009)	1		(1,010)
Stock-based compensation	2,564			2,564
Balance at Aug. 31, 2019	$ 1,666,555	$ 235	$ 196	$ 426,787	$ 1,239,927	$ (590)

Consolidated Statement of Sha_2

Consolidated Statement of Shareholders' Equity (Parenthetical) - $ / shares	1 Months Ended	9 Months Ended
	Apr. 30, 2019	Aug. 31, 2019	Aug. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.49	$ 0.49	$ 0.47

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
OPERATING ACTIVITIES
Net income	$ 49,734	$ 198,047
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	86,454	79,625
Stock-based compensation	2,564	2,443
Amortization of financing costs	1,240	996
Deferred income taxes	18,678	(132,800)
Income from equity investments	(18,969)	(16,449)
Distribution from equity investee	19,844	17,323
Loss on retirements of long-lived assets, non-cash	1,781	3,538
Other, net	(724)	(339)
Changes in operating assets and liabilities:
Receivables, net	(6,358)	(13,096)
Prepaid expenses and other assets	(10,050)	(13,516)
Accounts payable and other liabilities	3,320	(2,697)
Deferred income	33,902	33,572
Income taxes	(19,963)	12,811
Net cash provided by operating activities	161,453	169,458
INVESTING ACTIVITIES
Capital expenditures	(65,545)	(122,180)
Distribution from equity investee	1,454	2,679
Proceeds from sale of assets	30	430
Acquisition of assets	(7,968)	0
Other, net	(280)	0
Net cash used in investing activities	(72,309)	(119,071)
FINANCING ACTIVITIES
Payment of long-term debt	(761)	(715)
Exercise of Class A common stock options		992
Cash dividend paid	(21,306)	(20,738)
Reacquisition of previously issued common stock	(1,009)	(8,230)
Net cash used in financing activities	(23,076)	(28,691)
Net increase in cash and cash equivalents	66,068	21,696
Cash and cash equivalents at beginning of period	269,011	256,702
Cash and cash equivalents at end of period	$ 335,079	$ 278,398

Basis of Presentation

Basis of Presentation	9 Months Ended
	Aug. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated interim financial statements have been prepared in compliance with Rule 10-01 of Regulation S-X and accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information but do not include all of the information and disclosures required for complete financial statements. The consolidated balance sheet at November 30, 2018 , has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. The statements should be read in conjunction with the consolidated financial statements and notes thereto included in the latest Annual Report on Form 10-K for International Speedway Corporation and its wholly owned subsidiaries (the “Company” or “ISC”). In management’s opinion, the statements include all adjustments which are necessary for a fair presentation of the results for the interim periods. All such adjustments are of a normal recurring nature. Because of the seasonal concentration of racing events, the results of operations for the three and nine months ended August 31, 2018 , and 2019 , are not indicative of the results to be expected for the year. RECENT DEVELOPMENT On May 22, 2019, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with NASCAR Holdings, Inc. (“NASCAR”) and Nova Merger Sub, Inc. ("Merger Sub"), a wholly owned subsidiary of NASCAR, providing for the merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the merger as a wholly owned subsidiary of NASCAR. NASCAR, which sanctions many of the Company’s principal racing events, is wholly owned by certain members of the France Family Group, which also holds shares of ISC’s Class A common stock, par value $.01 par value per share (“Class A Common Stock”), and Class B common stock, par value $.01 par value per share (“Class B Common Stock,” and, collectively with the Class A Common Stock, the “Company Common Stock”) representing over 74.7 percent of the combined voting power of the Company’s outstanding stock. The France Family Group consists of James C. France (the Company’s Chairman of the Board), Lesa France Kennedy (the Company’s Vice Chairwoman and Chief Executive Officer) and Brian Z. France (a director of the Company), and members of their respective families and entities controlled by the natural person members of the group. At the effective time of the Merger (the “Effective Time”), subject to the satisfaction of the conditions set forth in the Merger Agreement, holders of Company Common Stock (other than holders who have elected to dissent from the Merger and seek appraisal rights under the Florida Business Corporations Act and holders of the Rollover Shares (as defined below)) will be entitled to receive $45.00 in cash for each share held, without interest (the “Merger Consideration”), subject to applicable withholding taxes. Prior to the Effective Time, the members of the France Family Group (other than Brian Z. France, his children, and certain related entities) (such members of the France Family Group, the “Rollover Shareholders”) will cause to be contributed pursuant to a rollover letter agreement between such shareholders and NASCAR, shares of Company Common Stock (the “Rollover Shares”) to NASCAR or a related entity and, as a result, such Rollover Shareholders will not receive the Merger Consideration. After the closing of the Merger, the Company will be a private company and wholly-owned subsidiary of NASCAR. The Merger is subject to the approval of the Merger Agreement by (i) the holders of at least a majority of the aggregate voting power of shares of Class A Common Stock and Class B Common Stock, voting together as a single class, and (ii) the holders of at least a majority of the aggregate voting power of all outstanding shares of Company Common Stock not held by NASCAR and its affiliates, the France Family Group and certain officers and directors of the Company. NASCAR has agreed in the Merger Agreement to cause the Rollover Shareholders to vote all of their shares of Company Common Stock in favor of the Merger. The Board of Directors of the Company (the “Board”), based upon the unanimous recommendation of a special committee of the Board, has unanimously approved and adopted the Merger Agreement, the Merger and the other transactions contemplated thereby and recommended to the shareholders of the Company that they approve the Merger Agreement. The Merger is also conditioned upon the satisfaction or waiver of certain customary closing conditions, including, among others, the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1986, as amended. If the Merger Agreement is terminated under certain specified circumstances, the Company could be required to pay NASCAR a termination fee of $78,000,000 or to reimburse certain expenses of NASCAR up to $15,000,000 , and under other specified circumstances, NASCAR could be required to pay the Company a termination fee of $117,000,000 . Subject to certain limitations, either party may terminate the Merger Agreement if the Merger has not been consummated by February 22, 2020. The foregoing description of the Merger Agreement and the transactions contemplated thereby is only a summary and does not purport to be complete. It is qualified in its entirety by reference to the full text of the Merger Agreement, which was filed as Exhibit 2.1 to the Company’s Report on Form 8-K filed on May 22, 2019. The Company subsequently set the close of business on September 10, 2019 as the record date for shareholders to receive the Company’s notice of, and vote at, the special meeting of the shareholders regarding the approval of the Merger Agreement. The special meeting of shareholders has been set for October 16, 2019.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Aug. 31, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements On January 5, 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-01, Clarifying the Definition of a Business (ASC 805). Under ASC 805, a business is defined as having a set of assets along with 3 elements or activities—inputs, processes, and outputs. However, confusion occurs when a business does not always have outputs. In addition, all the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs, for example, by integrating the acquired set with their own inputs and processes. As a result, this definition of a business under ASC 805 led some transactions to be accounted for as a business combination (see Note 5). The update has refined the definition of a business. Now, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contributes to the ability to create outputs. Public business entities should apply the amendments in this update to annual periods beginning after December 15, 2017, including interim periods within those periods. The amendments in this update were adopted in the first quarter of fiscal 2019. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, statement of comprehensive income, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2021. In May 2014, the FASB, in conjunction with the International Accounting Standards Board ("IASB"), issued ASU No. 2014-09, "Revenue from Contracts with Customers" (ASC 606), which supersedes the existing revenue recognition requirements under U.S. GAAP and eliminates industry-specific guidance. The new revenue recognition standard provides a five step analysis of transactions to determine when and how revenue is recognized. The new model requires revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The new guidance includes updated disclosure requirements regarding the qualitative and quantitative information of ISC’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. During 2016, the FASB issued additional interpretive guidance relating to the standard which covered the topics of principal versus agent considerations and identifying performance obligations and licensing. The standard, along with the subsequent clarifications issued, are effective for reporting periods beginning after December 15, 2017, including interim reporting periods, making it effective for our fiscal year beginning December 1, 2018. The guidance permits two methods of adoption: the full retrospective method, which applies to each prior reporting period presented, and the modified retrospective method, in which the cumulative effect of initially applying the new guidance is recognized as of the date of initial application as an adjustment to the opening balance of retained earnings. The Company has adopted ASC 606 and the related modifications as of December 1, 2018 using the modified retrospective transition and the impact of adopting this new guidance did not result in a material difference in its consolidated financial statements (see Note 3). In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842): Leases". The objective of this update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To meet that objective, the FASB is amending the FASB Accounting Standards Codification and creating Topic 842, Leases. This update, along with International Financial Reporting Standards 16, Leases, are the result of the FASB’s and the IASB’s efforts to meet that objective and improve financial reporting. For a public business entity, the amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of the amendments in this update is permitted for all entities. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2020. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments". The objective of this update is to provide specific guidance on eight cash flow classification issues and reduce the existing diversity in practice. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The amendments in this update should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. The Company adopted the provisions of this statement in the first quarter of fiscal 2019 and the impact of adopting this new guidance did not result in a material difference in its consolidated statement of cash flows. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The objective of this update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test, which test is measuring goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill to the carrying amount of that goodwill. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity should apply the amendments in this update on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition. That disclosure should be provided in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments in this update. A public business entity that is an SEC filer should adopt the amendments in this update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2021. In December 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin ("SAB") No. 118 (as further clarified by FASB ASU 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118)" to provide guidance for companies that may not have completed their accounting for the income tax effects of the Tax Cuts and Jobs Act of 2017 (Tax Act) in the period of enactment, which is the period that includes December 22, 2017. SAB No. 118 provides for a provisional one year measurement period for entities to finalize their accounting for certain income tax effects related to the Tax Act. SAB No. 118 provides guidance where: (i) the accounting for the income tax effect of the Tax Act is complete and reported in the Tax Act's enactment period, (ii) the accounting for the income tax effect of the Tax Act is incomplete and reported as provisional amounts based on reasonable estimates (to the extent determinable) subject to adjustments during a limited measurement period until complete, and (iii) accounting for the income tax effect of the Tax Act is not reasonably estimable (no related provisional amounts are reported in the enactment period) and entities would continue to apply accounting based on tax law provisions in effect prior to the Tax Act enactment until provisional amounts are reasonably estimable. SAB No. 118 requires disclosure of the reasons for incomplete accounting additional information or analysis needed, among other relevant information. The Company finalized its provisional amounts in the fourth quarter of fiscal 2018 (see Note 12 - Income Taxes). In February 2018, the FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. The amendments in this update also require certain disclosures about stranded tax effects. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption of the amendments in this update is permitted, including adoption in any interim period: (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, statement of comprehensive income, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2020.

Revenues with Customers

Revenues with Customers	9 Months Ended
	Aug. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenues with Customer	Revenues with Customers The Company has applied the provisions of ASC 606 and all related appropriate guidance based on the modified retrospective method, which was applied only to the contracts which were not completed as of the date of initial application. As per the new guidance, the Company recognizes revenue under the core principle to depict the transfer of control to its customers in an amount reflecting the consideration to which it expects to be entitled. In order to achieve that core principle, the Company has applied the following five-step approach: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when a performance obligation is satisfied. The Company’s contracts with customers provide for multiple promised goods and services, including admissions, food, beverage and merchandise, corporate partnerships, television broadcast and radio programming content. The Company typically analyzes the contract and identifies the performance obligations by evaluating whether the promised goods and services are capable of being distinct within the context of the contract at contract inception. Promised goods and services that are not distinct at contract inception are combined. The next step after identifying the performance obligations is determining the transaction price, which includes the impact of variable consideration, based on contractually fixed amounts and an estimation of variable consideration. The Company allocates the transaction price to each performance obligation based on relative stand-alone selling price. Judgment is exercised to determine the stand-alone selling price of each distinct performance obligation. The Company estimates the standalone selling price by reference to the total transaction price less the sum of the observable stand-alone selling prices of other goods or services promised in the contract. In general, transaction price is determined by estimating the fixed amount of consideration to which we are entitled for transfer of goods and services and all relevant sources and components of variable consideration. Variable consideration is estimated by the Company based on the expected value approach. The Company will then estimate variable consideration for a particular type of performance obligation, such method is consistently applied. The Company will constrain estimates of variable consideration based on its expectation of recovery from the customer. Revenues are generally recognized when control of the promised goods or services is transferred to their customers either at a point in time or over time, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services. Most of the Company’s contracts have one performance obligation, the promotion of a unique motorsport event, and all consideration is allocated to that performance obligation and recognized at a point in time contemporaneous with the date of the event. For advertising, revenue is recognized when the advertisement is broadcasted and the customer simultaneously receives and consumes benefits as the advertisements are broadcasted. The Company may enter into multiple contracts with a single counter party at or near the same time. The Company will combine contracts and account for them as a single contract when one or more of the following criteria are met: (i) the contracts are negotiated as a package with a single commercial objective, (ii) consideration to be paid in one contract depends on the price or performance of the other contract, and (iii) goods or services promised are a single performance obligation. Under ASC 606, the transaction price of a non-monetary exchange that has commercial substance is based on the fair value of the non-cash consideration received. Under ASC 606, consideration payable to a customer includes cash amounts that an entity pays, or expects to pay, to the customer. Consideration payable to a customer also includes credit or other items that can be applied against amounts owed to the entity. The Company accounts for consideration payable to a customer as a reduction of the transaction price and, therefore, of revenue unless the payment to the customer is in exchange for a distinct good or service that the customer transfers to the entity. The Company may have contracts where there is a significant timing difference between payment and the time when control of the goods or services is transferred to the customer. The Company has adopted the practical expedient and does not adjust for the promised amount of consideration for the effects of a significant financing component if it expects, at contract inception, that the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Nature of Goods and Services The following is a description of principal activities from which the Company generates its revenue: Event-related revenue The Company’s business consists principally of promoting racing events at its major motorsports entertainment facilities. The Company derives revenues primarily from (i) admissions to motorsports events and motorsports themed amusement activities held at our facilities, (ii) revenue generated in conjunction with or as a result of motorsports events and motorsports themed amusement activities conducted at our facilities, and (iii) catering, concession and merchandising services during or as a result of these events and amusement activities. “Admissions” revenue includes ticket sales for all of our racing events and other motorsports activities and amusements, net of any applicable taxes. Advance ticket sales and event-related revenues for future events are deferred until earned, which is generally once the events are conducted. “Motorsports and other event related” revenue primarily includes television and ancillary media rights fees, promotion and sponsorship fees, royalties from licenses of our trademarks, fees paid by third party promoters for management of non-motorsport events, hospitality rentals (including luxury suites, chalets and the hospitality portion of club seating), advertising revenues, parking and camping revenues, track rental fees, syndication of numerous racing events, and programs through our own radio network, MRN. “Food, beverage and merchandise” revenue includes revenues from concession stands, direct sales of souvenirs, hospitality catering, programs and other merchandise, and fees paid by third party vendors for the right to occupy space to sell souvenirs and concessions at our motorsports entertainment facilities. The delivery of MRN services is recognized utilizing the output method and the measure of progress is when the advertisements are aired over the MRN network. The delivery of all other event related services mentioned above are not considered as a separate performance obligation because our customers cannot receive the relevant benefits unless we also fulfill our obligation to deliver the event. Event related revenue is recognized on an event by event basis based on the fees allocated to the performance obligation within the underlying contractual arrangement. Other revenue Other revenue primarily includes revenues derived from leasing commercial space in our office and retail operations, including those at ONE DAYTONA and the Shoppes at ONE DAYTONA. Disaggregation of revenue In the following table, revenue is disaggregated by product line and timing of transfer of products and services. The table is in line with our reportable segments (see Note 15 - Segment Reporting). Three Months Ended Nine Months Ended August 31, 2018 August 31, 2019 August 31, 2018 August 31, 2019 (In thousands) Admissions 24,365 23,712 $ 80,604 $ 77,434 NASCAR Broadcasting 79,706 84,428 237,888 249,156 Corporate Sales and Other Event Related 37,699 34,730 118,631 103,426 Food, Beverage and Merchandise 12,185 15,622 27,041 36,238 Other 5,323 6,571 15,668 17,444 Total Revenues $ 159,278 $ 165,063 $ 479,832 $ 483,698 Contract Balances The Company’s rights to consideration for work completed, but not billed at the reporting date, is classified as a receivable, as it has an unconditional right to payment or only conditional for the passage of time. The Company has no recorded contract assets as of August 31, 2019 . Consideration received in advance from customers is recorded as a contract liability, if a contract exists under ASC 606, until services are delivered or obligations are met and revenue is earned. Contract liability represents the excess of amounts invoiced over amounts recognized as revenues. Contract liabilities to be recognized in the succeeding twelve-month period are classified as current contract liabilities and the remaining amounts, if any, are classified as non-current contract liabilities. Contract liabilities are predominately related to motorsports and other event related revenues, and to a lesser extent, Admissions and Food, Beverage and Merchandise revenues. Contract liabilities of approximately $70.4 million and $6.9 million are included in current and long-term deferred revenues, respectively, on the Consolidated Balance Sheets as of August 31, 2019 . For the period ended August 31, 2019 , we recognized revenue associated with contract liabilities of approximately $38.8 million that were included in the contract liabilities balance at the beginning of the period. Significant changes in the contract liabilities balances during the period are discussed below. Transaction price allocated to the remaining performance obligations The Company applies the optional exemptions and does not disclose: a) information about remaining performance obligations that have an original expected duration of one year or less or b) transaction price allocated to unsatisfied performance obligations for which variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation in accordance with the series guidance. The typical duration of all event related and other contracts is one year or less and, as a result, the Company applies the optional exemptions and does not disclose information about remaining performance obligations that have an original expected duration of one year or less. The Company has also elected to not disclose transaction price allocated to unsatisfied performance obligations for which variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service for event related promises for those contracts that contain percentage of the sales. The fees are variable for this type of contract, and the uncertainty related to the final fee, is resolved within the current year. Changes in Accounting Policies The Company adopted ASC 606 with an initial application as of the first quarter of fiscal year 2019, using the Modified Retrospective transition method, and applied ASC 606 to contracts with customers that were not completed as of the date of initial application. Comparative information has not been adjusted as the application of ASC 606 resulted in similar reportable activity as under ASC 605, "Revenue Recognition - Multiple-Deliverable Revenue Arrangements", except for that disclosed below. Unbilled Income and Deferred Income Recognition for Sponsorship Agreements The Company previously recognized a receivable for unbilled revenue and a liability in deferred income for an amount equal to the remaining performance obligation at any reporting period. Under ASC 606, the Company will recognize a receivable and a contract liability prior to performance by either party, only if the entity has an unconditional right to payment. The Company has determined it does not have an unconditional right to receive unbilled revenue for remaining performance obligations. Accordingly, the Company will net the amount of unbilled revenue and associated deferred income at any reporting date. Impact on the Consolidated Balance Sheet as of August 31, 2019 : Balance sheet accounts impacted by changes in accounting policies: As reported Adjustments Balances without adoption of ASC 606 (In thousands) Trade Receivables 49,191 1,740 50,931 Impact of Total Assets 49,191 1,740 50,931 Contract liability 70,440 1,735 72,175 Other Liabilities 19,206 5 19,211 Impact of Total Liabilities and Stockholders’ equity 89,646 1,740 91,386 There was no impact on the Consolidated Statement of Comprehensive Income. Impact on the Consolidated Statement of Cash Flows for the nine months ended August 31, 2019 : Cash flow items impacted by changes in accounting policies: As reported Adjustments Balances without adoption of ASC 606 (In thousands) Operating activities Adjustments to reconcile net income to net cash (used in) provided by operating activities: Receivables, net (6,358 ) (1,740 ) (8,098 ) Accounts payable and other liabilities 3,320 5 3,325 Deferred income 33,902 1,735 35,637 Impact of net adjustments to cash (used in) provided by operating activities 30,864 — 30,864

Earnings Per Share

Earnings Per Share	9 Months Ended
	Aug. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is calculated using the Company's weighted-average outstanding common shares. Diluted earnings per share is calculated using the Company's weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. In periods when the Company recognizes a net loss, it excludes the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an anti-dilutive effect. The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended August 31, 2018 and 2019 , respectively (in thousands, except share and per share amounts): Three Months Ended Nine Months Ended August 31, 2018 August 31, 2019 August 31, 2018 August 31, 2019 Numerator: Net income $ 12,031 $ 13,106 $ 198,047 $ 49,734 Denominator: Weighted average shares outstanding 44,110,349 43,483,743 44,154,848 43,448,897 Effect of dilutive securities 8,418 5,033 11,107 6,853 Diluted weighted average shares outstanding 44,118,767 43,488,776 44,165,955 43,455,750 Basic earnings per share $ 0.27 $ 0.30 $ 4.49 $ 1.14 Diluted earnings per share $ 0.27 $ 0.30 $ 4.48 $ 1.14 Anti-dilutive shares excluded in the computation of diluted earnings per share 26,849 11,698 40,715 16,410

Equity and Other Investments

Equity and Other Investments	9 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Equity and Other Investments	Equity and Other Investments Hollywood Casino at Kansas Speedway Kansas Entertainment, LLC, (“Kansas Entertainment”) a 50 /50 joint venture of Penn Hollywood Kansas, Inc. (“Penn”), a subsidiary of Penn National Gaming, Inc., and Kansas Speedway Development Corporation (“KSDC”), a wholly owned indirect subsidiary of ISC, operates the Hollywood-themed casino and branded destination entertainment facility overlooking turn two at Kansas Speedway. Penn, as the managing member of Kansas Entertainment, is responsible for the operations of the casino. The Company has accounted for Kansas Entertainment as an equity investment in the consolidated financial statements as of August 31, 2018 and 2019 . The Company's 50.0 percent portion of Kansas Entertainment’s net income, which is before income taxes as the joint venture is a disregarded entity for income tax purposes, was approximately $5.7 million and $6.5 million for the three months ended August 31, 2018 and 2019 , respectively, and approximately $16.3 million and $19.0 million for the nine months ended August 31, 2018 and 2019 , respectively, and is included in Equity in net income from equity investments in the Consolidated Statements of Operations. Pre-tax cash distributions from Kansas Entertainment for the nine months ended August 31, 2018 and 2019 , are recognized on the Company's Consolidated Statement of Cash Flows as follows (in thousands): Nine Months Ended August 31, 2018 August 31, 2019 Distribution from profits $ 17,158 $ 19,844 Distribution in excess of profits 2,642 1,306 Total Distributions $ 19,800 $ 21,150 Fairfield Inn Hotel at ONE DAYTONA Daytona Hotel Two, LLC ("Fairfield"), a joint venture of Daytona Hospitality Group II, LLC ("DHGII"), a subsidiary of Prime-Shaner Groups, and Daytona Beach Property Holdings Retail, LLC ("DBR"), a wholly owned indirect subsidiary of ISC, was formed to own, construct and operate a Fairfield Inn hotel. The hotel is situated within the ONE DAYTONA development. In June 2016, DBR contributed land to the joint venture as per the agreement. Construction of the hotel was completed and operations commenced in December 2017. DHGII is the managing member of Fairfield. DHGII was responsible for the development of Fairfield and manages ongoing operations of the hotel. As per the partnership agreement, our 33.25 percent share of equity is limited to the Company's non-cash land contribution and it shares in the profits from the joint venture proportionately to its equity ownership. The Company has accounted for the joint venture in Fairfield as an equity investment in its consolidated financial statements as of August 31, 2019 . The Company's 33.25 percent portion of Fairfield’s net income, which is before income taxes as the joint venture is a disregarded entity for income tax purposes. As of August 31, 2019 , the equity investment had losses in excess of its carrying value of approximately $0.2 million . The Company will resume application of the equity method only after its share of unrecognized net income equals the share of net losses not recognized during the period the equity method was suspended. For the three and nine months ended August 31, 2018 , the Company's share of net income was $0.1 million and $0.2 million , respectively, and is included in net income from equity investments in the Company's Consolidated Statements of Operations. Pre-tax cash distributions from Fairfield for the nine months ended August 31, 2018 and 2019 , totaled approximately $0.2 million and $0.1 million , respectively. The DAYTONA Marriott Autograph Collection Hotel at ONE DAYTONA Daytona Hotel One, LLC ("The DAYTONA"), a joint venture of Daytona Hospitality Group, LLC ("DHG"), a subsidiary of Prime-Shaner Groups, and DBR, was formed to own, construct and operate The DAYTONA. The hotel is situated within the ONE DAYTONA development. DHG is the managing member of The DAYTONA. DHG was responsible for the development of The DAYTONA and manages ongoing operations of the hotel. As per the partnership agreement, our 34.0 percent share of equity is limited to the Company's non-cash land contribution and it shares in the profits from the joint venture proportionately to its equity ownership. The Company has accounted for the joint venture in The DAYTONA as an equity investment in the Company's consolidated financial statements as of August 31, 2019 . The Company's 34.0 percent portion of The DAYTONA’s net loss, which is before income taxes as the joint venture is a disregarded entity for income tax purposes. As of August 31, 2019 , the equity investment had losses in excess of its carrying value of approximately $0.2 million . The Company will resume application of the equity method only after its share of unrecognized net income equals the share of net losses not recognized during the period the equity method was suspended. There were no comparable amounts for the three and nine months ended August 31, 2018 as the hotel commenced operations in April 2019. Residential Project at ONE DAYTONA Daytona Apartment Holdings, LLC, a joint venture of Daytona Residential Group, LLC, a subsidiary of Prime Group, and DBR, was formed to own, construct, and operate the residential component of the ONE DAYTONA project. The joint venture is structured similarly to the Fairfield and The DAYTONA joint ventures, where the Company's share of equity will be limited to the Company's non-cash land contribution and it will share in the profits from the joint venture proportionately to its equity ownership. In March 2019, the Company's land contribution of approximately $3.7 million towards the residential component was finalized. Vertical construction of the residential project has commenced and some units are expected to open in the fourth quarter of fiscal 2019. As per the partnership agreement, the Company's 31.0 percent share of equity will be limited to its non-cash land contribution and it will share in the profits from the joint venture proportionately to its equity ownership, which is before income taxes as the joint venture is a disregarded entity for income tax purposes. For the three and nine months ended August 31, 2019 and August 31, 2018 , the Company had recorded de minimis and no costs, respectively, which are included in net income from equity investments in the Company's Consolidated Statements of Operations. Other Investments A Community Development District ("CDD") has been established for the purpose of installing and maintaining public infrastructure at ONE DAYTONA (see "Future Liquidity - ONE DAYTONA"). The CDD is a local, special purpose government framework authorized by Chapter 190 of the Florida Statutes for managing and financing infrastructure to support community development. The CDD has negotiated agreements with the City of Daytona Beach and Volusia County for a total of up to $40.0 million in incentives to finance a portion of the infrastructure required for the ONE DAYTONA project. In October 2018, the CDD purchased certain infrastructure assets and specific easement rights from ONE DAYTONA. In October 2018, ONE DAYTONA received approximately $20.0 million of the total incentive amount in cash, with $10.5 million to be received in annual payments derived from a long-term note receivable issued by the CDD. The first payment of the note receivable was received in fiscal 2019 with maturity no later than fiscal 2046. As of, and for the three and nine months ended, August 31, 2019 , approximately $0.2 million of payments have been received. The remainder of the incentives can be received based on certain criteria met by the project through fiscal 2046. The ISC Board of Directors approved the purchase of certain assets, including trademarks and certain other intellectual property, from Racing Electronics and certain other assets required to support the business services of Racing Electronics. The asset acquisitions were completed in January 2019 for a total cost of approximately $8.2 million in cash. The acquisition meets the criteria of a business combination in accordance with ASC 805, "Business Combinations". The following table summarizes the Company's preliminary acquisition accounting based on the fair values of the assets acquired (in thousands): As of January 4, 2019 Inventory $ 2,340 Property and equipment 4,097 Trade names and trademarks 1,010 Track access rights 260 Goodwill 541 Purchase price consideration $ 8,248 Acquisition accounting and valuation processes with respect to inventory (included in prepaid expenses and other current assets in the Consolidated Balance Sheets), property and equipment, intangible assets, and goodwill, related to the acquisition completed, are preliminary and subject to adjustments within the required one year period. The preliminary track access rights will be amortized over thirty years . The trade names and trademarks is an indefinite-lived intangible asset and is not amortized. The results of operations of Racing Electronics are included in the Company's unaudited condensed consolidated statements of operations subsequent to the closing date of the acquisition and included in the Motorsports Event segment. For the three and nine months ended August 31, 2019 , net revenues generated from the acquisition were approximately $4.2 million and $11.1 million , respectively, and operating loss generated from the acquisition was approximately $0.5 million and $0.3 million , respectively. Included in the nine months ended August 31, 2019 was approximately $0.3 million of non-recurring, non-capitalizable acquisition costs, recognized as an expense in general and administrative costs on the Consolidated Statement of Operations.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The gross carrying value, accumulated amortization and net carrying value of the major classes of intangible assets relating to the Motorsports Event segment are as follows (in thousands): November 30, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Other 120 100 20 Total amortized intangible assets 120 100 20 Non-amortized intangible assets: NASCAR — sanction agreements 177,813 — 177,813 Other 730 — 730 Total non-amortized intangible assets 178,543 — 178,543 Total intangible assets $ 178,663 $ 100 $ 178,563 August 31, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Other 288 15 273 Total amortized intangible assets 288 15 273 Non-amortized intangible assets: NASCAR — sanction agreements 177,813 — 177,813 Other 1,740 — 1,740 Total non-amortized intangible assets 179,553 — 179,553 Total intangible assets $ 179,841 $ 15 $ 179,826 The increase of approximately $1.0 million in the net carrying amount of non-amortized intangible assets and $0.3 million in net carrying amount of amortized intangible assets, for the nine months ended August 31, 2019 , as compared to the fiscal year ended November 30, 2018 , is primarily due to the acquisition of certain assets, including trademarks and other intellectual property from Racing Electronics. The following table presents current and expected amortization expense of the existing intangible assets for each of the following periods (in thousands): Amortization expense for the nine months ended August 31, 2019 $ 7 Remaining estimated amortization expense for the year ending November 30: 2019 $ 3 2020 10 2021 10 2022 11 2023 and thereafter 239 The increase of approximately $0.5 million in the carrying value of goodwill during the nine months ended August 31, 2019 , relates to the acquisition of certain assets from Racing Electronics.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Aug. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands): November 30, 2018 August 31, 2019 Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs 4.63 percent Senior Notes $ 65,000 $ (108 ) $ 65,000 $ (70 ) 3.95 percent Senior Notes 100,000 (244 ) 100,000 (212 ) 6.25 percent Term Loan 46,014 — 45,253 — TIF bond debt service funding commitment 46,291 (1,288 ) 46,329 (1,179 ) Revolving Credit Facility — — — — 257,305 (1,640 ) 256,582 (1,461 ) Less: current portion 4,521 (237 ) 4,881 (237 ) $ 252,784 $ (1,403 ) $ 251,701 $ (1,224 ) The Company's $65.0 million principal amount of senior unsecured notes (“ 4.63 percent Senior Notes”) bear interest at 4.63 percent and are due January 2021. The 4.63 percent Senior Notes require semi-annual interest payments on January 18 and July 18 through their maturity. The 4.63 percent Senior Notes may be redeemed in whole or in part, at the Company’s option, at any time or from time to time at redemption prices as defined in the indenture. Certain of the Company’s wholly owned domestic subsidiaries are guarantors of the 4.63 percent Senior Notes. Certain restrictive covenants of the 4.63 percent Senior Notes require that the Company's ratio of its Consolidated Funded Indebtedness to its Consolidated EBITDA ("leverage ratio") does not exceed 3.50 to 1.0, and its Consolidated EBITDA to Consolidated Interest Expense ("interest coverage ratio") is not less than 2.0 to 1.0. In addition, the Company may not permit the aggregate of certain Priority Debt to exceed 15.0 percent of its Consolidated Net Worth. The 4.63 percent Senior Notes contain various other affirmative and negative restrictive covenants including, among others, limitations on liens, sales of assets, mergers and consolidations and certain transactions with affiliates. As of August 31, 2019 , the Company was in compliance with its various restrictive covenants. At August 31, 2019 , outstanding principal on the 4.63 percent Senior Notes was approximately $65.0 million . The Company's $100.0 million principal amount of senior unsecured notes (“ 3.95 percent Senior Notes”) bear interest at 3.95 percent and are due September 2024. The 3.95 percent Senior Notes require semi-annual interest payments on March 13 and September 13 through their maturity. The 3.95 percent Senior Notes may be redeemed in whole or in part, at the Company's option, at any time or from time to time at redemption prices as defined in the indenture. Certain of the Company's wholly owned domestic subsidiaries are guarantors of the 3.95 percent Senior Notes. Certain restrictive covenants of the 3.95 percent Senior Notes require that the Company's leverage ratio does not exceed 3.50 to 1.0, and its interest coverage ratio is not less than 2.0 to 1.0. In addition, the Company may not permit the aggregate of certain Priority Debt to exceed 15.0 percent of its Consolidated Net Worth. The 3.95 percent Senior Notes contain various other affirmative and negative restrictive covenants including, among others, limitations on liens, sales of assets, mergers and consolidations and certain transactions with affiliates. As of August 31, 2019 , the Company was in compliance with its various restrictive covenants. At August 31, 2019 , outstanding principal on the 3.95 percent Senior Notes was approximately $100.0 million . The term loan (“ 6.25 percent Term Loan”), related to the Company’s International Motorsports Center, has a 25 year term due October 2034, an interest rate of 6.25 percent , and a current monthly payment of approximately $323,000 . At August 31, 2019 , the outstanding principal on the 6.25 percent Term Loan was approximately $45.3 million . At August 31, 2019 , the outstanding taxable special obligation revenue (“TIF”) bond, in connection with the financing of Kansas Speedway, totaled approximately $46.3 million , net of the unamortized discount, which is comprised of a $46.6 million principal amount, 6.75 percent term bond due December 1, 2027 . The TIF bond is repaid by the Unified Government of Wyandotte County/Kansas City, Kansas (“Unified Government”) with payments made in lieu of property taxes (“Funding Commitment”) by the Company’s wholly owned subsidiary, Kansas Speedway Corporation (“KSC”). Principal (mandatory redemption) payments per the Funding Commitment are payable by KSC on October 1 of each year. The semi-annual interest component of the Funding Commitment is payable on April 1 and October 1 of each year. KSC granted a mortgage and security interest in the Kansas project for its Funding Commitment obligation. The Company's $300.0 million revolving credit facility (“2016 Credit Facility”) contains a feature that allows the Company to increase the credit facility to a total of $500.0 million , subject to certain conditions and provides for separate sub-limits of $25.0 million for standby letters of credit and $10.0 million for swing line loans. The 2016 Credit Facility is scheduled to mature five years from the date of inception, with two 1 -year extension options, extending the maturity to September 2023. Interest accrues, at the Company's option, at either LIBOR plus 100.0 — 162.5 basis points or a base rate loan at the highest of: i) Wells Fargo Bank's prime lending rate, ii) the Federal Funds rate, as in effect from time to time, plus 0.5 percent , and iii) one month LIBOR plus 1.0 percent . The 2016 Credit Facility also contains a commitment fee ranging from 0.125 percent to 0.225 percent of unused amounts available for borrowing. The interest rate margin on the LIBOR borrowings and commitment fee are variable depending on the better of the Company's debt rating as determined by specified rating agencies or its leverage ratio. Certain of the Company's wholly owned domestic subsidiaries are guarantors on the 2016 Credit Facility. The 2016 Credit Facility requires that the Company's leverage ratio does not exceed 3.50 to 1.0 ( 4.0 to 1.0 for the four quarters ending after any Permitted Acquisition), and its interest coverage ratio is not less than 2.5 to 1.0. The 2016 Credit Facility also contains various other affirmative and negative restrictive covenants including, among others, limitations on indebtedness, investments, sales of assets, certain transactions with affiliates, entering into certain restrictive agreements and making certain restricted payments as detailed in the agreement. As of August 31, 2019 , the Company was in compliance with its various restrictive covenants. At August 31, 2019 , the Company had no outstanding borrowings under its credit facility. Financing costs related to the credit facility, net of accumulated amortization, of approximately $1.1 million , have been deferred and are included in other assets as of August 31, 2019 . Financing costs are being amortized on a straight-line method, which approximates the effective yield method, over the life of the related financing. At November 30, 2018 and August 31, 2019 , the Company recorded deferred financing costs of approximately $3.0 million and $2.6 million , respectively, net of accumulated amortization. Total interest expense incurred by the Company for the three and nine months ended August 31, 2018 and 2019 , respectively, is as follows (in thousands): Three Months Ended Nine Months Ended August 31, 2018 August 31, 2019 August 31, 2018 August 31, 2019 Interest expense $ 3,848 $ 3,773 $ 11,550 $ 11,339 Less: capitalized interest 1,297 126 3,214 254 Net interest expense $ 2,551 $ 3,647 $ 8,336 $ 11,085

Financial Instruments

Financial Instruments	9 Months Ended
	Aug. 31, 2019
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments In accordance with the “Financial Instruments” Topic, ASC 825-10, and in accordance with the “Fair Value Measurements and Disclosures” Topic, ASC 820-10, additional clarification and disclosure is required about the use of fair value measurements. These topics discuss key considerations in determining fair value in such markets and expanding disclosures on recurring fair value measurements, using unobservable inputs (Level 3). Various inputs are considered when determining the carrying values of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities. These items approximate fair value due to the short-term maturities of these assets and liabilities. The Company's note receivable is a variable-based financial instrument and, therefore, its carrying value approximates its fair value. The Company’s credit facilities approximate fair value as they bear interest rates that approximate market. Fair values of long-term debt are based on quoted market prices at the date of measurement and determined by quotes from financial institutions. There have been no changes or transfers between category levels or classes. These inputs are summarized in the three broad levels and two classes listed below: • Level 1 — observable market inputs that are unadjusted quoted prices for identical assets or liabilities in active markets • Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.) • Level 3 — significant unobservable inputs (including the Company’s own assumptions in determining the fair value of investments) • Recurring (R) - measured at fair value on recurring basis, subsequent to initial recognition. • Non-recurring (NR) - measured at fair value on nonrecurring basis, subsequent to initial recognition. The following table presents estimated fair values and categorization levels of the Company's financial instruments as of November 30, 2018 and August 31, 2019 , respectively (in thousands): November 30, 2018 August 31, 2019 Assets Level Class Carrying Value Fair Value Carrying Value Fair Value Money market funds 1 R $ 219,229 $ 219,229 $ 278,331 $ 278,331 Note Receivable 2 R 10,500 10,500 10,300 10,300 Liabilities (principal) Senior Notes 2 NR 257,305 260,778 256,582 273,315 The Company had no level 3 inputs as of August 31, 2019 .

Capital Stock

Capital Stock	9 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Capital Stock	Capital Stock Stock Purchase Plan The Company has a share repurchase program (“Stock Purchase Plan”), under which it is authorized to purchase up to $530.0 million of its outstanding Class A common shares. The timing and amount of any shares repurchased under the Stock Purchase Plan will depend on a variety of factors, including price, corporate and regulatory requirements, capital availability and other market conditions. The Stock Purchase Plan may be suspended or discontinued at any time without prior notice. The Company currently has no active 10b5-1 plans. No shares have been or will be knowingly purchased from Company insiders or their affiliates. Since inception of the Stock Purchase Plan, through August 31, 2019 , the Company has purchased 10,566,002 shares of its Class A common shares, for a total of approximately $391.3 million . The Company did not purchase any shares of its Class A common shares during the nine months ended August 31, 2019 . At August 31, 2019 , the Company had approximately $138.7 million remaining repurchase authority under the current Stock Purchase Plan. In April 2019, the Company's Board of Directors approved an annual dividend of $0.49 per share, for a total of approximately $21.3 million , paid on June 28, 2019, to common stockholders of record on May 31, 2019.

Long-Term Stock Incentive Plan

Long-Term Stock Incentive Plan	9 Months Ended
	Aug. 31, 2019
Share-based Payment Arrangement [Abstract]
Long-Term Incentive Plan	Long-Term Stock Incentive Plan In April 2017, the Company's Board of Directors approved the 2017 Long Term Incentive Plan (the "2017 Plan"), as its 2006 Long Term Incentive Plan had expired in 2016. The Company has reserved an aggregate of 1,500,000 shares (subject to adjustment for stock splits and similar capital changes) of Class A Common Stock for grants under the 2017 Plan. Awards under the 2017 Plan will contain such terms and conditions not inconsistent with the 2006 Long Term Incentive Plan. In May 2019 , the Company awarded and issued a total of 83,298 restricted shares of the Company’s Class A common shares to certain officers and managers under the 2017 Plan. The shares of restricted stock awarded in May 2019 , vest at the rate of 50.0 percent on the third anniversary of the award date and the remaining 50.0 percent on the fifth anniversary of the award date. The weighted average grant date fair value of these restricted share awards was $44.12 per share. In accordance with ASC 718, “Compensation — Stock Compensation” the Company is recognizing stock-based compensation on these restricted shares awarded on the accelerated method over the requisite service period. In July 2019 , the Company awarded and issued a total of 6,012 restricted shares of the Company’s Class A common shares to certain non-employee directors, under the 2017 Plan. The shares of restricted stock awarded in July 2019 , vest at the rate of 100.0 percent on the one year anniversary of the award date. The weighted average grant date fair value of these restricted share awards was $44.89 per share. In accordance with ASC 718, “Compensation — Stock Compensation” the Company is recognizing this stock-based compensation on these restricted shares awarded on the straight-line method over the requisite service period.

Comprehensive Income

Comprehensive Income	9 Months Ended
	Aug. 31, 2019
Statement of Comprehensive Income [Abstract]
Comprehensive Income	Comprehensive Income Comprehensive income is the change in equity of an enterprise except those resulting from shareholder transactions. Accumulated other comprehensive loss consists of the following (in thousands): November 30, 2018 August 31, 2019 Terminated interest rate swap, net of tax benefit of $1,050 and $852, respectively $ (1,204 ) $ (590 )

Income Taxes

Income Taxes	9 Months Ended
	Aug. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, new tax legislation, commonly referred to as the Tax Cuts and Jobs Act of 2017, was enacted, which significantly changed the existing U.S. tax laws. The Tax Act reduced the corporate Federal income tax rate from 35.0 percent to 21.0 percent, eliminated the corporate alternative minimum tax, allowed 100.0 percent expensing of certain qualified capital investments through 2022 (retroactive to September 27, 2017), and further limited the deductibility of certain executive compensation, among other provisions. Under current accounting guidance, the Company recognized the effects of the Tax Act as of the enactment date. During the first quarter of fiscal 2018, as a result of the Tax Act, the Company incurred a material, non-cash reduction of our deferred income tax liabilities and a corresponding material income tax benefit of approximately $143.9 million primarily due to the Federal income tax rate reduction from 35.0 percent to 21.0 percent. In the third quarter of fiscal 2018, the Company recorded an additional approximately $1.2 million reduction of its deferred income tax liabilities and income tax benefit as a result of the aforementioned Federal income tax rate reduction. For fiscal 2018, the Company incurred total non-cash reductions of its deferred income tax liabilities and a corresponding material income tax benefit of approximately $145.1 million due to the aforementioned Federal income tax rate reduction. The Company's effective income tax rate was approximately 15.4 percent and 21.8 percent for the three and nine months ended August 31, 2019 , respectively, and approximately 17.0 percent and (181.3) percent for the three and nine months ended August 31, 2018 , respectively. The slight decrease in the three months ended August 31, 2019 , as compared to the same period in the prior year, is predominately due to changes in state income tax rates and changes due to tax reform based on final regulations being issued by the IRS. The increase in the effective income tax rate for the nine months ended August 31, 2019 , as compared to the same period in the prior year, is substantially due to the material income tax benefit and income tax rate reduction associated with the Tax Act, including the aforementioned reduction in deferred income tax liability, in the first quarter of fiscal 2018. In March 2018, the Company was notified that its 2014 federal income tax return is under examination by the Internal Revenue Service.

Related Party Disclosures and T

Related Party Disclosures and Transactions	9 Months Ended
	Aug. 31, 2019
Related Party Transactions [Abstract]
Related Party Disclosures and Transactions	Related Party Disclosures and Transactions All of the racing events that take place during the Company’s fiscal year are sanctioned by various racing organizations such as National Association for Stock Car Auto Racing (“NASCAR”), the American Historic Racing Motorcycle Association, the American Motorcyclist Association, the Automobile Racing Club of America ("ARCA"), the American Sportbike Racing Association — Championship Cup Series, the Federation Internationale de L’Automobile, the Federation Internationale Motocycliste, International Motor Sports Association (“IMSA”) - a wholly owned subsidiary of NASCAR, Historic Sportscar Racing, IndyCar Series, National Hot Rod Association, the Porsche Club of America, the Sports Car Club of America, the Sportscar Vintage Racing Association, the United States Auto Club and the World Karting Association. NASCAR and IMSA, which sanction many of the Company’s principal racing events, are members of the France Family Group, which controls approximately 74.7 percent of the combined voting power of the outstanding stock of the Company as of August 31, 2019 , and some members of which serve as directors and officers of the Company. Under current agreements, NASCAR contracts directly with certain network providers for television rights to the entire Monster Energy NASCAR Cup, Xfinity and Gander Outdoors Truck series schedules. Under the terms of this arrangement, NASCAR retains 10.0 percent of the gross broadcast rights fees allocated to each Monster Energy NASCAR Cup, Xfinity and Gander Outdoors Truck series event as a component of its sanction fees. The Company, as the promoter, records 90.0 percent of the gross broadcast rights fees as revenue and then records 25.0 percent of the gross broadcast rights fees as part of its awards to the competitors, included in NASCAR event management fees (discussed below). Ultimately, the promoter retains 65.0 percent of the net cash proceeds from the gross broadcast rights fees allocated to the event. The Company’s television broadcast and ancillary rights fees received from NASCAR for the Monster Energy NASCAR Cup, Xfinity, and Gander Outdoors Truck series events conducted at its wholly owned facilities, and recorded as part of motorsports related revenue, were approximately $80.1 million and $84.8 million for the three months ended August 31, 2018 and 2019 , respectively, and approximately $240.3 million and $250.5 million for the nine months ended August 31, 2018 and 2019 , respectively. The Company recorded prize money of approximately $22.1 million and $23.5 million for the three months ended August 31, 2018 and 2019 , respectively, and approximately $66.1 million and $69.2 million for the nine months ended August 31, 2018 and 2019 , respectively, included in NASCAR event management fees (discussed below) related to the aforementioned 25.0 percent of gross broadcast rights fees ultimately paid to competitors. Standard NASCAR and IMSA sanction agreements require racetrack operators to pay event management fees (collectively "NASCAR event management or NEM fees"), which include prize and point fund monies for each sanctioned event conducted, as well as fees paid to NASCAR for sanctioning and officiating of the events. The prize and point fund monies are distributed by NASCAR to participants in the events. Total NEM fees paid by the Company were approximately $44.3 million and $47.5 million for the three months ended August 31, 2018 and 2019 , respectively, and approximately $124.3 million and $130.6 million for the nine months ended August 31, 2018 and 2019

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Aug. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In October 2002, the Unified Government issued subordinate sales tax special obligation revenue bonds (“2002 STAR Bonds”) totaling approximately $6.3 million to reimburse the Company for certain construction already completed on the second phase of the Kansas Speedway project and to fund certain additional construction. The 2002 STAR Bonds, which require annual debt service payments and are due December 1, 2022 , will be retired with state and local taxes generated within Kansas Speedway’s boundaries and are not the Company’s obligation. KSC has agreed to guarantee the payment of principal and any required premium and interest on the 2002 STAR Bonds. At August 31, 2019 , the Unified Government had approximately $0.5 million outstanding on 2002 STAR Bonds. Under a keepwell agreement, the Company has agreed to provide financial assistance to KSC, if necessary, to support KSC’s guarantee of the 2002 STAR Bonds. In connection with the Company’s automobile and workers’ compensation insurance coverages and certain construction contracts, the Company has standby letter of credit agreements in favor of third parties totaling approximately $3.1 million at August 31, 2019 . At August 31, 2019 , there were no amounts drawn on the standby letters of credit. In September 2018, the Company announced a Comprehensive Ticket and Travel Protection Program that allows guests who purchase a grandstand ticket the ability to exchange tickets for a rescheduled NASCAR event at an ISC facility for a future NASCAR event within the ISC portfolio, certain restrictions apply. Should an event be rescheduled to a different date due to inclement weather, and a guest chooses to take advantage of ISC's Weather Protection Program, revenue related to that grandstand ticket would be deferred until earned, which is when the guest's selected event is conducted. In June and July 2019, the NASCAR Monster Energy Cup events at Michigan International Speedway and Daytona International Speedway, respectively, were postponed to the following day due to inclement weather. As a result, the events qualify for the Weather Protection Program. Grandstand tickets that were deemed eligible under this program were not significant for the three or nine months ended August 31, 2019 . Current Litigation The Company is from time to time a party to routine litigation incidental to its business. Management does not believe that the resolution of any or all of such litigation will have a material adverse effect on the Company’s financial condition or results of operations. Mergers, such as the one proposed in the Merger Agreement, which the Company previously discussed in its report on Form 10-K for the fiscal year ended November 30, 2018 , often attract litigation from minority shareholders. On December 14, 2018 a putative class-action shareholder lawsuit was filed in the Seventh Judicial Circuit of Volusia County, Florida the Firemen's Retirement System of St. Louis. The complaint names as defendants: the Company, its directors, its CFO, NASCAR Holdings, and certain of the Family Stockholders, and alleges breach of fiduciary duty in connection with the Merger Agreement and for aiding and abetting those alleged breaches. The parties to the litigation have executed a memorandum of understanding related to a settlement in principle of the litigation, subject to applicable court approval. The Company currently maintains Directors & Officers Insurance. Applicable insurance policies contain certain customary limitations, conditions and exclusions and are subject to a self-insured retention amount.

Segment Reporting

Segment Reporting	9 Months Ended
	Aug. 31, 2019
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The general nature of the Company’s business is a motorsports themed amusement enterprise, furnishing amusement to the public in the form of motorsports themed entertainment. The Company’s motorsports event operations consist principally of racing events at its major motorsports entertainment facilities. The reporting units within the motorsports segment portfolio are reviewed together as the nature of the products and services, the production processes used, the type or class of customer using our products and services, and the methods used to distribute our products or provide their services are consistent in objectives and principles, and predominately uniform and centralized throughout the Company. The consolidated industry domestic media rights contract, which continues through the 2024 NASCAR season, continues to be the single-largest contributor to the Company's earnings. These media rights are allocated to specific events, are not facility based, and are derived through a corporate contract, which affects all of the motorsports event facilities within the motorsports event segment. Similarly, corporate sponsorship partnership revenue is primarily derived from corporate contracts, negotiated by the Company's corporate sales team, and allocated to multiple, or all, motorsports entertainment facilities depending on the specific arrangement. Thus, the disclosure of these revenue streams, as they relate to each reporting unit, is not practical. The Company’s remaining business units, which are comprised of the radio network production and syndication of numerous racing events and programs, non-motorsports events, certain souvenir merchandising operations not associated with the promotion of motorsports events at the Company’s facilities, construction management services, financing and licensing operations, equity investments and retail and commercial leasing operations are included in the “All Other” segment. The Company evaluates financial performance of the business units on operating profit after allocation of corporate general and administrative (“G&A”) expenses. Corporate G&A expenses are allocated to business units based on each business unit’s net revenues to total net revenues. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Intersegment sales are accounted for at prices comparable to unaffiliated customers. The following tables provide segment reporting of the Company for the three and nine months ended August 31, 2018 and 2019 , respectively (in thousands): Three Months Ended August 31, 2018 Motorsports Event All Other Total Revenues $ 144,960 $ 14,824 $ 159,784 Depreciation and amortization 24,275 1,752 26,027 Operating income (loss) 9,461 810 10,271 Capital expenditures 50,568 6,593 57,161 Total assets 1,693,446 601,280 2,294,726 Equity investments — 82,647 82,647 Three Months Ended August 31, 2019 Motorsports Event All Other Total Revenues $ 151,395 $ 14,138 $ 165,533 Depreciation and amortization 26,382 2,004 28,386 Operating income (loss) 8,763 1,344 10,107 Capital expenditures 21,556 1,427 22,983 Total assets 1,701,319 634,348 2,335,667 Equity investments — 80,524 80,524 Nine Months Ended August 31, 2018 Motorsports Event All Other Total Revenues $ 447,412 $ 33,834 $ 481,246 Depreciation and amortization 74,505 5,120 79,625 Operating income (loss) 63,445 (3,423 ) 60,022 Capital expenditures 101,249 20,931 122,180 Nine Months Ended August 31, 2019 Motorsports Event All Other Total Revenues $ 456,797 $ 28,306 $ 485,103 Depreciation and amortization 80,448 6,006 86,454 Operating income (loss) 52,440 (1,301 ) 51,139 Capital expenditures 54,000 11,545 65,545 Intersegment revenues were approximately $0.5 million for the three months ended August 31, 2018 and 2019 , and approximately $1.4 million for the nine months ended August 31, 2018 and 2019 . During the three and nine months ended August 31, 2019 , revenues in the Motorsports Event segment included approximately $4.2 million and $11.1 million , respectively related to Racing Electronics, for which there was no comparable activity in the same periods of the prior year. During the three and nine months ended August 31, 2019 , revenues in the All Other segment have decreased by approximately $0.7 million and $5.5 million , respectively, as compared to the same periods in the prior year. The decrease in the current three and nine month periods is predominantly related to the Country 500 music festival at Daytona event not occurring in fiscal 2019 offset by lease revenue from ONE DAYTONA, as new tenants opened during fiscal 2019. Capital expenditures related to the All Other segment decreased approximately $5.2 million for the three months ended August 31, 2019 , and approximately $9.4 million for the nine months ended August 31, 2019 , as compared to the same periods in the prior year. The decrease is substantially related to the construction activity at The Shoppes at ONE DAYTONA. During the nine months ended August 31, 2019 , the Company recognized approximately $0.9 million , of accelerated depreciation, due to shortening the service lives of certain assets associated with the infield project at Talladega. The Company did no t recognize any accelerated depreciation during the three months ended August 31, 2019 . During the nine months ended August 31, 2018 , the Company recognized approximately $1.2 million , respectively of accelerated depreciation due to shortening the service lives of certain assets, associated with The ISM Raceway Project and the infield project at Richmond. The Company did no t recognize any accelerated depreciation during the three months ended August 31, 2018 . During the three and nine months ended August 31, 2019 , the Company recognized approximately $0.6 million and $1.4 million , respectively, of asset retirement losses attributable to demolition and/or asset relocation costs in connection with ONE DAYTONA and the infield project at Talladega. During the three and nine months ended August 31, 2018 , the Company recognized approximately $2.2 million and $3.4 million , respectively, of similar costs associated with ONE DAYTONA, facility optimization initiatives, and other capital improvements including The ISM Raceway Project and the infield project at Richmond.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	9 Months Ended
	Aug. 31, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements On January 5, 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-01, Clarifying the Definition of a Business (ASC 805). Under ASC 805, a business is defined as having a set of assets along with 3 elements or activities—inputs, processes, and outputs. However, confusion occurs when a business does not always have outputs. In addition, all the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs, for example, by integrating the acquired set with their own inputs and processes. As a result, this definition of a business under ASC 805 led some transactions to be accounted for as a business combination (see Note 5). The update has refined the definition of a business. Now, to be considered a business, an acquisition would have to include an input and a substantive process that together significantly contributes to the ability to create outputs. Public business entities should apply the amendments in this update to annual periods beginning after December 15, 2017, including interim periods within those periods. The amendments in this update were adopted in the first quarter of fiscal 2019. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities that are U.S. Securities and Exchange Commission (SEC) filers, the amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. For all other public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, statement of comprehensive income, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2021. In May 2014, the FASB, in conjunction with the International Accounting Standards Board ("IASB"), issued ASU No. 2014-09, "Revenue from Contracts with Customers" (ASC 606), which supersedes the existing revenue recognition requirements under U.S. GAAP and eliminates industry-specific guidance. The new revenue recognition standard provides a five step analysis of transactions to determine when and how revenue is recognized. The new model requires revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The new guidance includes updated disclosure requirements regarding the qualitative and quantitative information of ISC’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. During 2016, the FASB issued additional interpretive guidance relating to the standard which covered the topics of principal versus agent considerations and identifying performance obligations and licensing. The standard, along with the subsequent clarifications issued, are effective for reporting periods beginning after December 15, 2017, including interim reporting periods, making it effective for our fiscal year beginning December 1, 2018. The guidance permits two methods of adoption: the full retrospective method, which applies to each prior reporting period presented, and the modified retrospective method, in which the cumulative effect of initially applying the new guidance is recognized as of the date of initial application as an adjustment to the opening balance of retained earnings. The Company has adopted ASC 606 and the related modifications as of December 1, 2018 using the modified retrospective transition and the impact of adopting this new guidance did not result in a material difference in its consolidated financial statements (see Note 3). In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842): Leases". The objective of this update is to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. To meet that objective, the FASB is amending the FASB Accounting Standards Codification and creating Topic 842, Leases. This update, along with International Financial Reporting Standards 16, Leases, are the result of the FASB’s and the IASB’s efforts to meet that objective and improve financial reporting. For a public business entity, the amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of the amendments in this update is permitted for all entities. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2020. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments". The objective of this update is to provide specific guidance on eight cash flow classification issues and reduce the existing diversity in practice. The amendments in this update are effective for public business entities for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The amendments in this update should be applied using a retrospective transition method to each period presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. The Company adopted the provisions of this statement in the first quarter of fiscal 2019 and the impact of adopting this new guidance did not result in a material difference in its consolidated statement of cash flows. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The objective of this update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test, which test is measuring goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill to the carrying amount of that goodwill. Instead, under the amendments in this update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity should apply the amendments in this update on a prospective basis. An entity is required to disclose the nature of and reason for the change in accounting principle upon transition. That disclosure should be provided in the first annual period and in the interim period within the first annual period when the entity initially adopts the amendments in this update. A public business entity that is an SEC filer should adopt the amendments in this update for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2021. In December 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin ("SAB") No. 118 (as further clarified by FASB ASU 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118)" to provide guidance for companies that may not have completed their accounting for the income tax effects of the Tax Cuts and Jobs Act of 2017 (Tax Act) in the period of enactment, which is the period that includes December 22, 2017. SAB No. 118 provides for a provisional one year measurement period for entities to finalize their accounting for certain income tax effects related to the Tax Act. SAB No. 118 provides guidance where: (i) the accounting for the income tax effect of the Tax Act is complete and reported in the Tax Act's enactment period, (ii) the accounting for the income tax effect of the Tax Act is incomplete and reported as provisional amounts based on reasonable estimates (to the extent determinable) subject to adjustments during a limited measurement period until complete, and (iii) accounting for the income tax effect of the Tax Act is not reasonably estimable (no related provisional amounts are reported in the enactment period) and entities would continue to apply accounting based on tax law provisions in effect prior to the Tax Act enactment until provisional amounts are reasonably estimable. SAB No. 118 requires disclosure of the reasons for incomplete accounting additional information or analysis needed, among other relevant information. The Company finalized its provisional amounts in the fourth quarter of fiscal 2018 (see Note 12 - Income Taxes). In February 2018, the FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Tax Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. The amendments in this update also require certain disclosures about stranded tax effects. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption of the amendments in this update is permitted, including adoption in any interim period: (1) for public business entities for reporting periods for which financial statements have not yet been issued and (2) for all other entities for reporting periods for which financial statements have not yet been made available for issuance. The amendments in this update should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company is currently evaluating the impact of adopting this new guidance on its financial position, results of operations, statement of comprehensive income, and cash flows, and will adopt the provisions of this statement in the first quarter of fiscal 2020.

Revenues with Customers (Tables

Revenues with Customers (Tables)	9 Months Ended
	Aug. 31, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	In the following table, revenue is disaggregated by product line and timing of transfer of products and services. The table is in line with our reportable segments (see Note 15 - Segment Reporting). Three Months Ended Nine Months Ended August 31, 2018 August 31, 2019 August 31, 2018 August 31, 2019 (In thousands) Admissions 24,365 23,712 $ 80,604 $ 77,434 NASCAR Broadcasting 79,706 84,428 237,888 249,156 Corporate Sales and Other Event Related 37,699 34,730 118,631 103,426 Food, Beverage and Merchandise 12,185 15,622 27,041 36,238 Other 5,323 6,571 15,668 17,444 Total Revenues $ 159,278 $ 165,063 $ 479,832 $ 483,698
Impact of Adopting ASC 606 on Financial Statements	Accordingly, the Company will net the amount of unbilled revenue and associated deferred income at any reporting date. Impact on the Consolidated Balance Sheet as of August 31, 2019 : Balance sheet accounts impacted by changes in accounting policies: As reported Adjustments Balances without adoption of ASC 606 (In thousands) Trade Receivables 49,191 1,740 50,931 Impact of Total Assets 49,191 1,740 50,931 Contract liability 70,440 1,735 72,175 Other Liabilities 19,206 5 19,211 Impact of Total Liabilities and Stockholders’ equity 89,646 1,740 91,386 There was no impact on the Consolidated Statement of Comprehensive Income. Impact on the Consolidated Statement of Cash Flows for the nine months ended August 31, 2019 : Cash flow items impacted by changes in accounting policies: As reported Adjustments Balances without adoption of ASC 606 (In thousands) Operating activities Adjustments to reconcile net income to net cash (used in) provided by operating activities: Receivables, net (6,358 ) (1,740 ) (8,098 ) Accounts payable and other liabilities 3,320 5 3,325 Deferred income 33,902 1,735 35,637 Impact of net adjustments to cash (used in) provided by operating activities 30,864 — 30,864

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Aug. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended August 31, 2018 and 2019 , respectively (in thousands, except share and per share amounts): Three Months Ended Nine Months Ended August 31, 2018 August 31, 2019 August 31, 2018 August 31, 2019 Numerator: Net income $ 12,031 $ 13,106 $ 198,047 $ 49,734 Denominator: Weighted average shares outstanding 44,110,349 43,483,743 44,154,848 43,448,897 Effect of dilutive securities 8,418 5,033 11,107 6,853 Diluted weighted average shares outstanding 44,118,767 43,488,776 44,165,955 43,455,750 Basic earnings per share $ 0.27 $ 0.30 $ 4.49 $ 1.14 Diluted earnings per share $ 0.27 $ 0.30 $ 4.48 $ 1.14 Anti-dilutive shares excluded in the computation of diluted earnings per share 26,849 11,698 40,715 16,410

Equity and Other Investments Eq

Equity and Other Investments Equity and Other Investments (Tables)	9 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Schedule of Distributions from Equity Method Investments	Pre-tax cash distributions from Kansas Entertainment for the nine months ended August 31, 2018 and 2019 , are recognized on the Company's Consolidated Statement of Cash Flows as follows (in thousands): Nine Months Ended August 31, 2018 August 31, 2019 Distribution from profits $ 17,158 $ 19,844 Distribution in excess of profits 2,642 1,306 Total Distributions $ 19,800 $ 21,150
Schedule of Preliminary Purchase Price Allocation	The following table summarizes the Company's preliminary acquisition accounting based on the fair values of the assets acquired (in thousands): As of January 4, 2019 Inventory $ 2,340 Property and equipment 4,097 Trade names and trademarks 1,010 Track access rights 260 Goodwill 541 Purchase price consideration $ 8,248

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The gross carrying value, accumulated amortization and net carrying value of the major classes of intangible assets relating to the Motorsports Event segment are as follows (in thousands): November 30, 2018 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Other 120 100 20 Total amortized intangible assets 120 100 20 Non-amortized intangible assets: NASCAR — sanction agreements 177,813 — 177,813 Other 730 — 730 Total non-amortized intangible assets 178,543 — 178,543 Total intangible assets $ 178,663 $ 100 $ 178,563 August 31, 2019 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets: Other 288 15 273 Total amortized intangible assets 288 15 273 Non-amortized intangible assets: NASCAR — sanction agreements 177,813 — 177,813 Other 1,740 — 1,740 Total non-amortized intangible assets 179,553 — 179,553 Total intangible assets $ 179,841 $ 15 $ 179,826
Current and Expected Amortization Expense of Intangible Assets	The following table presents current and expected amortization expense of the existing intangible assets for each of the following periods (in thousands): Amortization expense for the nine months ended August 31, 2019 $ 7 Remaining estimated amortization expense for the year ending November 30: 2019 $ 3 2020 10 2021 10 2022 11 2023 and thereafter 239

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Aug. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following (in thousands): November 30, 2018 August 31, 2019 Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs 4.63 percent Senior Notes $ 65,000 $ (108 ) $ 65,000 $ (70 ) 3.95 percent Senior Notes 100,000 (244 ) 100,000 (212 ) 6.25 percent Term Loan 46,014 — 45,253 — TIF bond debt service funding commitment 46,291 (1,288 ) 46,329 (1,179 ) Revolving Credit Facility — — — — 257,305 (1,640 ) 256,582 (1,461 ) Less: current portion 4,521 (237 ) 4,881 (237 ) $ 252,784 $ (1,403 ) $ 251,701 $ (1,224 )
Schedule of Interest Expense	Total interest expense incurred by the Company for the three and nine months ended August 31, 2018 and 2019 , respectively, is as follows (in thousands): Three Months Ended Nine Months Ended August 31, 2018 August 31, 2019 August 31, 2018 August 31, 2019 Interest expense $ 3,848 $ 3,773 $ 11,550 $ 11,339 Less: capitalized interest 1,297 126 3,214 254 Net interest expense $ 2,551 $ 3,647 $ 8,336 $ 11,085

Financial Instruments Financial

Financial Instruments Financial Instruments (Tables)	9 Months Ended
	Aug. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Estimated Fair Values and Categorization Levels of Financial Instruments, Assets and Liab	The following table presents estimated fair values and categorization levels of the Company's financial instruments as of November 30, 2018 and August 31, 2019 , respectively (in thousands): November 30, 2018 August 31, 2019 Assets Level Class Carrying Value Fair Value Carrying Value Fair Value Money market funds 1 R $ 219,229 $ 219,229 $ 278,331 $ 278,331 Note Receivable 2 R 10,500 10,500 10,300 10,300 Liabilities (principal) Senior Notes 2 NR 257,305 260,778 256,582 273,315

Comprehensive Income (Tables)

Comprehensive Income (Tables)	9 Months Ended
	Aug. 31, 2019
Statement of Comprehensive Income [Abstract]
Schedule of Comprehensive Income	Comprehensive income is the change in equity of an enterprise except those resulting from shareholder transactions. Accumulated other comprehensive loss consists of the following (in thousands): November 30, 2018 August 31, 2019 Terminated interest rate swap, net of tax benefit of $1,050 and $852, respectively $ (1,204 ) $ (590 )

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Aug. 31, 2019
Segment Reporting [Abstract]
Segment Reporting	The following tables provide segment reporting of the Company for the three and nine months ended August 31, 2018 and 2019 , respectively (in thousands): Three Months Ended August 31, 2018 Motorsports Event All Other Total Revenues $ 144,960 $ 14,824 $ 159,784 Depreciation and amortization 24,275 1,752 26,027 Operating income (loss) 9,461 810 10,271 Capital expenditures 50,568 6,593 57,161 Total assets 1,693,446 601,280 2,294,726 Equity investments — 82,647 82,647 Three Months Ended August 31, 2019 Motorsports Event All Other Total Revenues $ 151,395 $ 14,138 $ 165,533 Depreciation and amortization 26,382 2,004 28,386 Operating income (loss) 8,763 1,344 10,107 Capital expenditures 21,556 1,427 22,983 Total assets 1,701,319 634,348 2,335,667 Equity investments — 80,524 80,524 Nine Months Ended August 31, 2018 Motorsports Event All Other Total Revenues $ 447,412 $ 33,834 $ 481,246 Depreciation and amortization 74,505 5,120 79,625 Operating income (loss) 63,445 (3,423 ) 60,022 Capital expenditures 101,249 20,931 122,180 Nine Months Ended August 31, 2019 Motorsports Event All Other Total Revenues $ 456,797 $ 28,306 $ 485,103 Depreciation and amortization 80,448 6,006 86,454 Operating income (loss) 52,440 (1,301 ) 51,139 Capital expenditures 54,000 11,545 65,545

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) - USD ($)	May 22, 2019	Aug. 31, 2019	Nov. 30, 2018
International Speedway Corporation (“ISC”) | France Family Group
Business Acquisition [Line Items]
Ownership interest held (percent)	74.70%
International Speedway Corporation (“ISC”) | Proposal | NASCAR Holdings, Inc. (“NASCAR Holdings”)
Business Acquisition [Line Items]
Proposed purchase price per share (in usd per share)	$ 45
Payments for termination fees	$ 117,000,000
Class A Common Stock
Business Acquisition [Line Items]
Common Stock, par value (in dollars per share)		$ 0.01	$ 0.01
Class B Common Stock
Business Acquisition [Line Items]
Common Stock, par value (in dollars per share)		$ 0.01	$ 0.01
France Family Group | Class A Common Stock
Business Acquisition [Line Items]
Common Stock, par value (in dollars per share)	$ 0.01
France Family Group | Class B Common Stock
Business Acquisition [Line Items]
Common Stock, par value (in dollars per share)	$ 0.01
NASCAR Holdings, Inc. (“NASCAR Holdings”) | International Speedway Corporation (“ISC”)
Business Acquisition [Line Items]
Payments for termination fees	$ 78,000,000
Payments for expense reimbursements	$ 15,000,000

Revenues with Customers - Addit

Revenues with Customers - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2019	Nov. 30, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Current deferred revenues	$ 71,420	$ 36,801
Long-term deferred revenues	6,858	$ 7,575
Motorsport and other Event-related activity
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Current deferred revenues	70,400
Long-term deferred revenues	6,900
Revenue recognized associated with contract liabilities	$ 38,800

Revenues with Customers - Disag

Revenues with Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenues	$ 165,063	$ 159,278	$ 483,698	$ 479,832
Admissions, net
Disaggregation of Revenue [Line Items]
Total revenues	23,712	24,365	77,434	80,604
NASCAR Broadcasting
Disaggregation of Revenue [Line Items]
Total revenues	84,428	79,706	249,156	237,888
Corporate Sales and Other Event Related
Disaggregation of Revenue [Line Items]
Total revenues	34,730	37,699	103,426	118,631
Food, beverage and merchandise
Disaggregation of Revenue [Line Items]
Total revenues	15,622	12,185	36,238	27,041
Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 6,571	$ 5,323	$ 17,444	$ 15,668

Revenues with Customers - Impac

Revenues with Customers - Impact of Adopting 606 on Financial Statements (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Nov. 30, 2018
Balance Sheet Related Disclosures [Abstract]
Trade Receivables	$ 49,191		$ 42,833
Contract liability	70,440
Other Liabilities	19,206
Total Liabilities and Shareholders’ Equity	89,646
Additional Cash Flow Elements, Operating Activities [Abstract]
Receivables, net	(6,358)	$ (13,096)
Accounts payable and other liabilities	3,320	(2,697)
Deferred income	33,902	$ 33,572
Impact of net adjustments to cash (used in) provided by operating activities	30,864
Balances without adoption of ASC 606
Balance Sheet Related Disclosures [Abstract]
Trade Receivables	50,931
Contract liability	72,175
Other Liabilities	19,211
Total Liabilities and Shareholders’ Equity	91,386
Additional Cash Flow Elements, Operating Activities [Abstract]
Receivables, net	(8,098)
Accounts payable and other liabilities	3,325
Deferred income	35,637
Impact of net adjustments to cash (used in) provided by operating activities	30,864
Adjustments | ASC 606
Balance Sheet Related Disclosures [Abstract]
Trade Receivables	1,740
Contract liability	1,735
Other Liabilities	5
Total Liabilities and Shareholders’ Equity	1,740
Additional Cash Flow Elements, Operating Activities [Abstract]
Receivables, net	(1,740)
Accounts payable and other liabilities	5
Deferred income	1,735
Impact of net adjustments to cash (used in) provided by operating activities	$ 0

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Numerator:
Net income	$ 13,106	$ 12,031	$ 49,734	$ 198,047
Denominator:
Weighted average shares outstanding (shares)	43,483,743	44,110,349	43,448,897	44,154,848
Effect of dilutive securities (shares)	5,033	8,418	6,853	11,107
Diluted weighted average shares outstanding (shares)	43,488,776	44,118,767	43,455,750	44,165,955
Basic earnings per share
Basic earnings per share (in usd per share)	$ 0.30	$ 0.27	$ 1.14	$ 4.49
Diluted earnings per share (in usd per share)	$ 0.30	$ 0.27	$ 1.14	$ 4.48
Anti-dilutive shares excluded in the computation of diluted earnings per share (shares)	11,698	26,849	16,410	40,715

Equity and Other Investments -

Equity and Other Investments - Additional Information (Detail) - USD ($)	Jan. 04, 2019	Mar. 31, 2019	Jan. 31, 2019	Oct. 31, 2018	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Schedule of Equity Method Investments [Line Items]
Equity in net income from equity investments					$ 7,032,000	$ 5,790,000	$ 18,969,000	$ 16,449,000
Financing Receivable, before Allowance for Credit Loss				$ 40,000,000
Acquisition of assets							7,968,000	0
Revenues					$ 165,533,000	159,784,000	$ 485,103,000	481,246,000
Kansas Entertainment
Schedule of Equity Method Investments [Line Items]
Ownership interest in joint venture					50.00%		50.00%
Equity in net income from equity investments					$ 6,500,000	5,700,000	$ 19,000,000	16,300,000
Fairfield Inn Hotel at ONE DAYTONA
Schedule of Equity Method Investments [Line Items]
Ownership interest in joint venture					33.25%		33.25%
Equity in net income from equity investments						100,000		200,000
Losses in excess of carrying value					$ 200,000		$ 200,000
Autograph Hotel at ONE DAYTONA
Schedule of Equity Method Investments [Line Items]
Ownership interest in joint venture					34.00%		34.00%
Equity in net income from equity investments						0		0
Losses in excess of carrying value					$ 200,000		$ 200,000
Residential Project at ONE DAYTONA
Schedule of Equity Method Investments [Line Items]
Ownership interest in joint venture		31.00%
Land contribution towards residential component		$ 3,700,000
Cash Distribution | Kansas Entertainment
Schedule of Equity Method Investments [Line Items]
Distributions							21,150,000	19,800,000
Cash Distribution | Fairfield Inn Hotel at ONE DAYTONA
Schedule of Equity Method Investments [Line Items]
Distributions							100,000	200,000
ONE DAYTONA
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of assets				20,000,000
Periodic payment				$ 10,500,000
Proceeds from payments on notes receivable					200,000		200,000
Racing Electronics
Schedule of Equity Method Investments [Line Items]
Acquisition of assets			$ 8,200,000
Track Access Rights | Racing Electronics
Schedule of Equity Method Investments [Line Items]
Amortization period of acquired intangible	30 years
Motorsports Event
Schedule of Equity Method Investments [Line Items]
Revenues					151,395,000	144,960,000	456,797,000	447,412,000
Motorsports Event | Racing Electronics
Schedule of Equity Method Investments [Line Items]
Net revenue					4,200,000		11,100,000
Operating income					$ (500,000)		(300,000)
Non-recurring, noncapitalizable acquisition costs recognized							$ 300,000
Revenues						$ 0		$ 0

Equity and Other Investments _2

Equity and Other Investments - Distributions from Equity Method Investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Schedule of Equity Method Investments [Line Items]
Distribution from profits	$ 19,844	$ 17,323
Distribution from equity investee	1,454	2,679
Kansas Entertainment | Cash Distribution
Schedule of Equity Method Investments [Line Items]
Distribution from profits	19,844	17,158
Distribution from equity investee	1,306	2,642
Total Distributions	$ 21,150	$ 19,800

Equity and Other Investments _3

Equity and Other Investments - Schedule of Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Jan. 04, 2019	Nov. 30, 2018
Business Acquisition [Line Items]
Goodwill	$ 118,872		$ 118,331
Racing Electronics
Business Acquisition [Line Items]
Inventory		$ 2,340
Property and equipment		4,097
Trade names and trademarks		1,010
Track access rights		260
Goodwill		541
Purchase price consideration		$ 8,248

Summary of Intangible Assets (D

Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Nov. 30, 2018
Intangible Assets by Major Class [Line Items]
Net Carrying Amount	$ 179,826	$ 178,563
Motorsports Event
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	179,841	178,663
Accumulated Amortization	15	100
Net Carrying Amount	179,826	178,563
Motorsports Event | Amortized intangible assets
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	288	120
Accumulated Amortization	15	100
Net Carrying Amount	273	20
Motorsports Event | Amortized intangible assets | Other
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	288	120
Accumulated Amortization	15	100
Net Carrying Amount	273	20
Motorsports Event | Non-amortized intangible assets
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	179,553	178,543
Net Carrying Amount	179,553	178,543
Motorsports Event | Non-amortized intangible assets | Other
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	1,740	730
Net Carrying Amount	1,740	730
Motorsports Event | Non-amortized intangible assets | NASCAR - sanction agreements
Intangible Assets by Major Class [Line Items]
Gross Carrying Amount	177,813	177,813
Net Carrying Amount	$ 177,813	$ 177,813

Current and Expected Amortizati

Current and Expected Amortization Expense of Intangible Assets (Detail) $ in Thousands	9 Months Ended
	Aug. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for the nine months ended August 31, 2019	$ 7
Remaining estimated amortization expense for the year ending November 30:
2019	3
2020	10
2021	10
2022	11
2023 and thereafter	$ 239

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Aug. 31, 2019	Aug. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Increase in carrying value of goodwill	$ 500,000
Motorsports Event
Indefinite-lived Intangible Assets [Line Items]
Increase in net carrying amount of non-amortized intangible assets		$ 1,000,000
Increase in net carrying amount of amortized intangible assets		$ 300,000

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Aug. 31, 2019	Nov. 30, 2018
Debt Instrument [Line Items]
Long-term debt	$ 256,582	$ 257,305
Debt Instrument, Unamortized Discount and Debt Issuance Costs	(1,461)	(1,640)
Less: current portion	4,881	4,521
Debt Instrument, Unamortized Discount and Debt Issuance Costs, Current	(237)	(237)
Long-Term Debt	251,701	252,784
Debt Instrument, Unamortized Discount and Debt Issuance Costs, Non-current	(1,224)	(1,403)
4.63 percent Senior Notes
Debt Instrument [Line Items]
Long-term debt	65,000	65,000
Debt Instrument, Unamortized Discount and Debt Issuance Costs	(70)	(108)
3.95 percent Senior Notes
Debt Instrument [Line Items]
Long-term debt	100,000	100,000
Debt Instrument, Unamortized Discount and Debt Issuance Costs	(212)	(244)
6.25 percent Term Loan
Debt Instrument [Line Items]
Long-term debt	45,253	46,014
Debt Instrument, Unamortized Discount and Debt Issuance Costs	0	0
TIF bond debt service funding commitment
Debt Instrument [Line Items]
Long-term debt	46,329	46,291
Debt Instrument, Unamortized Discount and Debt Issuance Costs	(1,179)	(1,288)
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	0	0
Debt Instrument, Unamortized Discount and Debt Issuance Costs	$ 0	$ 0

Long-Term Debt - Non-printing (

Long-Term Debt - Non-printing (Detail)	Aug. 31, 2019	Nov. 30, 2018
4.63 percent Senior Notes
Debt Instrument [Line Items]
Debt, interest rate	4.63%	4.63%
3.95 percent Senior Notes
Debt Instrument [Line Items]
Debt, interest rate	3.95%	3.95%
6.25 percent Term Loan
Debt Instrument [Line Items]
Debt, interest rate	6.25%	6.25%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Detail)	Sep. 27, 2016USD ($)extention_option	Aug. 31, 2019USD ($)Year	Nov. 30, 2018USD ($)
Debt Disclosure [Line Items]
Long-term Debt, Gross		$ 256,582,000	$ 257,305,000
Finance costs, net of accumulated amortization		2,600,000	$ 3,000,000
4.63 percent Senior Notes
Debt Disclosure [Line Items]
Proceeds from long-term debt		$ 65,000,000
Debt, interest rate		4.63%	4.63%
Frequency of periodic payment		semi-annual
Debt Instrument, Covenant, Leverage Ratio, Maximum		3.50
Debt Instrument, Covenant, Interest Coverage Ratio, Maximum		2
Debt Instrument, Covenant Consolidated Net Worth, Percentage, Maximum		15.00%
Long-term debt		$ 65,000,000
Long-term Debt, Gross		$ 65,000,000	$ 65,000,000
4.63 percent Senior Notes | Semi Annual Payment, First Payment
Debt Disclosure [Line Items]
Debt Instrument Interest Rate Payment Date		January 18
4.63 percent Senior Notes | Semi Annual Payment, Second Payment
Debt Disclosure [Line Items]
Debt Instrument Interest Rate Payment Date		July 18
3.95 percent Senior Notes
Debt Disclosure [Line Items]
Proceeds from long-term debt		$ 100,000,000
Debt, interest rate		3.95%	3.95%
Frequency of periodic payment		semi-annual
Debt Instrument, Covenant, Leverage Ratio, Maximum		3.50
Debt Instrument, Covenant Consolidated Net Worth, Percentage, Maximum		15.00%
Long-term debt		$ 100,000,000
Long-term Debt, Gross		$ 100,000,000	$ 100,000,000
3.95 percent Senior Notes | Semi Annual Payment, First Payment
Debt Disclosure [Line Items]
Debt Instrument Interest Rate Payment Date		March 13
3.95 percent Senior Notes | Semi Annual Payment, Second Payment
Debt Disclosure [Line Items]
Debt Instrument Interest Rate Payment Date		September 13
6.25 percent Term Loan
Debt Disclosure [Line Items]
Debt, interest rate		6.25%	6.25%
Long-term debt		$ 45,300,000
Long-term Debt, Gross		45,253,000	$ 46,014,000
Debt, monthly payment		$ 323,000
Debt term | Year		25
TIF bond debt service funding commitment
Debt Disclosure [Line Items]
Long-term Debt, Gross		$ 46,329,000	$ 46,291,000
Principal payment date		October 1
TIF bond debt service funding commitment | Semi Annual Payment, First Payment
Debt Disclosure [Line Items]
Debt Instrument Interest Rate Payment Date		April 1
TIF bond debt service funding commitment | Semi Annual Payment, Second Payment
Debt Disclosure [Line Items]
Debt Instrument Interest Rate Payment Date		October 1
TIF bond debt service funding commitment | Term Bond Due December 1st 2027
Debt Disclosure [Line Items]
Debt, interest rate		6.75%
Long-term debt		$ 46,600,000
2016 Credit Facility
Debt Disclosure [Line Items]
Debt Instrument, Covenant, Leverage Ratio, Maximum	3.50
Debt Instrument, Covenant, Interest Coverage Ratio, Maximum	2.5
Credit Facility current borrowing capacity	$ 300,000,000
Debt maturity period	5 years
Number of extension options available | extention_option	2
Duration of each extension option	1 year
Credit Facility potential borrowing capacity	$ 500,000,000
Debt instrument basis points	0.50%
Credit Facility amount outstanding		0
Finance costs, net of accumulated amortization		$ 1,100,000
2016 Credit Facility | Minimum
Debt Disclosure [Line Items]
Unused capacity commitment fee (percent)	0.125%
2016 Credit Facility | Maximum
Debt Disclosure [Line Items]
Unused capacity commitment fee (percent)	0.225%
2016 Credit Facility | Standby Letters of Credit
Debt Disclosure [Line Items]
Credit Facility current borrowing capacity	$ 25,000,000
2016 Credit Facility | Swing Line Loan
Debt Disclosure [Line Items]
Credit Facility current borrowing capacity	$ 10,000,000
Four Quarters Ending after any Permitted Acquisition
Debt Disclosure [Line Items]
Debt Instrument, Covenant, Leverage Ratio, Maximum	4
London Interbank Offered Rate (LIBOR) | 2016 Credit Facility
Debt Disclosure [Line Items]
Debt instrument basis points	1.00%
London Interbank Offered Rate (LIBOR) | 2016 Credit Facility | Minimum
Debt Disclosure [Line Items]
Debt instrument basis points		1.00%
London Interbank Offered Rate (LIBOR) | 2016 Credit Facility | Maximum
Debt Disclosure [Line Items]
Debt instrument basis points		1.625%

Long-Term Debt Schedule of Inte

Long-Term Debt Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Debt Disclosure [Abstract]
Interest expense	$ 3,773	$ 3,848	$ 11,339	$ 11,550
Less: capitalized interest	126	1,297	254	3,214
Net interest expense	$ 3,647	$ 2,551	$ 11,085	$ 8,336

Financial Instruments - Schedul

Financial Instruments - Schedule of Estimated Fair Values and Categorization Levels of Financial Instruments (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Nov. 30, 2018
Reported Value Measurement [Member] | Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 278,331	$ 219,229
Reported Value Measurement [Member] | Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note Receivable	10,300	10,500
Estimate of Fair Value Measurement [Member] | Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Note Receivable	10,300	10,500
Senior Notes | Reported Value Measurement [Member] | Nonrecurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	256,582	257,305
Senior Notes | Estimate of Fair Value Measurement [Member] | Nonrecurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes	$ 273,315	$ 260,778

Capital Stock (Details)

Capital Stock (Details) - USD ($)	1 Months Ended	9 Months Ended		153 Months Ended
	Apr. 30, 2019	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019
Equity, Class of Treasury Stock [Line Items]
Dividends (in dollars per share)	$ 0.49	$ 0.49	$ 0.47
Cash dividends	$ 21,300,000	$ 21,306,000
Class A Common Stock | Stock Purchase Plan
Equity, Class of Treasury Stock [Line Items]
Authorized amount under Stock Purchase Plan		530,000,000		$ 530,000,000
Stock repurchased during the period (shares)				10,566,002
Stock repurchased during the period				$ 391,300,000
Remaining repurchase authority under the Stock Purchase Plan		$ 138,700,000		$ 138,700,000

Long-Term Stock Incentive Plan

Long-Term Stock Incentive Plan (Details) - Long-Term Stock Incentive Plan - $ / shares	1 Months Ended
	Jul. 31, 2019	May 31, 2019	Aug. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares reserved for grants under the 2017 Plan (shares)			1,500,000
Certain Officers and Managers | Class A Common Stock | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares awarded and issued under LTIP (in shares)		83,298
Weighted average grant date fair value (in dollars per share)		$ 44.12
Certain Officers and Managers | Class A Common Stock | Restricted Shares | Third Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of restricted shares (percent)		50.00%
Certain Officers and Managers | Class A Common Stock | Restricted Shares | Fifth Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of restricted shares (percent)		50.00%
Non-employee Directors | Class A Common Stock | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares awarded and issued under LTIP (in shares)	6,012
Vesting period	1 year
Weighted average grant date fair value (in dollars per share)	$ 44.89
Non-employee Directors | Class A Common Stock | Restricted Shares | Third Anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of restricted shares (percent)	100.00%

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Thousands	Aug. 31, 2019	Nov. 30, 2018
Statement of Comprehensive Income [Abstract]
Terminated interest rate swap, net of tax benefit of $1,050 and $852, respectively	$ (590)	$ (1,204)
Accumulated other comprehensive income (loss), terminated interest rate swap, tax	$ 852	$ 1,050

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Feb. 28, 2018	Aug. 31, 2019	Aug. 31, 2018	Nov. 30, 2018
Income Tax Disclosure [Abstract]
Income tax benefit resulting from the Tax Act		$ 1.2	$ 143.9			$ 145.1
Effective income tax rate (percent)	15.40%	17.00%		21.80%	(181.30%)

Related Party Disclosures and_2

Related Party Disclosures and Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Majority Shareholder
Related Party Transaction [Line Items]
France Family Group, which contains NASCAR, ownership of voting interest in the Company	74.70%		74.70%
NASCAR
Related Party Transaction [Line Items]
Allocation of broadcast rights fees for each NASCAR Sprint Cup, Nationwide or Camping World Truck series event			10.00%
Television broadcast and ancillary rights fees from continuing operations received from NASCAR for the NASCAR Sprint Cup, Nationwide and Camping World Truck series events recorded as part of motorsports related revenue	$ 84.8	$ 80.1	$ 250.5	$ 240.3
Prize and point fund monies paid to NASCAR	23.5	22.1	$ 69.2	66.1
Event Promoter
Related Party Transaction [Line Items]
Allocation of broadcast rights fees for each NASCAR Sprint Cup, Nationwide or Camping World Truck series event			90.00%
Prize money paid by event promoter as a percent of broadcast rights fees for each NASCAR Sprint Cup, Nationwide or Camping World Truck series event			25.00%
Allocation Of gross broadcast rights revenue retained by the promoter			65.00%
Prize and point fund monies paid to NASCAR	$ 47.5	$ 44.3	$ 130.6	$ 124.3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	1 Months Ended
	Oct. 31, 2002	Aug. 31, 2019
Standby Letter of Credit
Commitments and Contingencies Disclosure [Line Items]
Standby letter of credit agreements in favor of third parties		$ 3,100,000
Amounts drawn on standby letter of credit		0
2002 STAR Bonds
Commitments and Contingencies Disclosure [Line Items]
Proceeds from long-term debt	$ 6,300,000
Frequency of periodic payment	annual
Long-term debt		$ 500,000

Segment Reporting (Detail)

Segment Reporting (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 165,533	$ 159,784	$ 485,103	$ 481,246
Depreciation and amortization	28,386	26,027	86,454	79,625
Operating income (loss)	10,107	10,271	51,139	60,022
Capital expenditures	22,983	57,161	65,545	122,180
Total Assets	2,335,667	2,294,726	2,335,667	2,294,726
Equity Investments	80,524	82,647	80,524	82,647
Motorsports Event
Segment Reporting Information [Line Items]
Revenues	151,395	144,960	456,797	447,412
Depreciation and amortization	26,382	24,275	80,448	74,505
Operating income (loss)	8,763	9,461	52,440	63,445
Capital expenditures	21,556	50,568	54,000	101,249
Total Assets	1,701,319	1,693,446	1,701,319	1,693,446
All Other
Segment Reporting Information [Line Items]
Revenues	14,138	14,824	28,306	33,834
Depreciation and amortization	2,004	1,752	6,006	5,120
Operating income (loss)	1,344	810	(1,301)	(3,423)
Capital expenditures	1,427	6,593	11,545	20,931
Total Assets	634,348	601,280	634,348	601,280
Equity Investments	$ 80,524	$ 82,647	$ 80,524	$ 82,647

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	Aug. 31, 2019	Aug. 31, 2018
Segment Reporting Disclosure [Line Items]
Revenues	$ 165,533,000	$ 159,784,000	$ 485,103,000	$ 481,246,000
Impairment of long lived assets	760,000	2,181,000	1,781,000	3,538,000
Intersegment Elimination
Segment Reporting Disclosure [Line Items]
Revenues		500,000		1,400,000
All Other
Segment Reporting Disclosure [Line Items]
Revenues	14,138,000	14,824,000	28,306,000	33,834,000
Decrease in revenue	700,000		5,500,000
Decrease in capital expenditures	5,200,000		9,400,000
Motorsports Event
Segment Reporting Disclosure [Line Items]
Revenues	151,395,000	144,960,000	456,797,000	447,412,000
Motorsports Event | Phoenix Raceway Project | General and Administrative Expense
Segment Reporting Disclosure [Line Items]
Accelerated depreciation	0	0	900,000	1,200,000
Impairment of long lived assets	600,000	2,200,000	1,400,000	3,400,000
Racing Electronics | Motorsports Event
Segment Reporting Disclosure [Line Items]
Revenues		$ 0		$ 0
Net revenue	$ 4,200,000		$ 11,100,000