Speedway Motorsports (TRK) 10-Q 29 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 28, 2015
Entity Registrant Name	SPEEDWAY MOTORSPORTS INC
Entity Central Index Key	934,648
Trading Symbol	trk
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		41,224,403
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 87,344	$ 110,046
Accounts and notes receivable, net	38,582	34,855
Prepaid and refundable income taxes	8,013	8,306
Inventories, net	8,822	8,350
Prepaid expenses	2,787	3,881
Deferred income taxes	2,137	23,786
Total Current Assets	147,685	189,224
Notes and Other Receivables	1,442	1,555
Other Assets	29,900	30,714
Property and Equipment, Net (Note 2)	1,025,671	1,052,153
Other Intangible Assets, Net (Note 4)	298,394	394,941
Goodwill (Note 4)	47,342	49,680
Total	1,550,434	1,718,267
Current Liabilities:
Current maturities of long-term debt	8,047	7,070
Accounts payable	17,498	11,166
Deferred race event and other income, net	43,255	55,209
Accrued interest	1,719	7,055
Accrued expenses and other current liabilities	31,417	25,131
Total Current Liabilities	101,936	105,631
Long-term Debt (Note 5)	323,707	397,747
Deferred Income, Net	4,646	4,822
Deferred Income Taxes	331,663	371,903
Other Liabilities	7,110	7,019
Total Liabilities	$ 769,062	$ 887,122
Commitments and Contingencies (Notes 2, 5 and 6)
Stockholders’ Equity:
Preferred Stock, $.10 par value, shares authorized – 3,000,000, no shares issued
Common Stock, $.01 par value, shares authorized – 200,000,000, issued and outstanding – 41,242,000 in 2015 and 41,340,000 in 2014	$ 457	$ 456
Additional Paid-in Capital	254,286	252,571
Retained Earnings	624,955	671,648
Treasury Stock at cost, shares – 4,432,000 in 2015 and 4,216,000 in 2014	(98,326)	(93,530)
Total Stockholders’ Equity	781,372	831,145
Total	$ 1,550,434	$ 1,718,267

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Preferred stock par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	200,000,000	200,000,000
Common Stock, shares issued (in shares)	41,242,000	41,340,000
Common Stock, shares outstanding (in shares)	41,242,000	41,340,000
Treasury Stock at cost, shares (in shares)	4,432,000	4,216,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Admissions	$ 31,607,000	$ 30,911,000	$ 82,263,000	$ 83,246,000
Event related revenue	40,717,000	39,186,000	115,966,000	116,158,000
NASCAR broadcasting revenue	63,855,000	63,068,000	186,653,000	178,814,000
Other operating revenue	7,944,000	6,672,000	23,836,000	22,038,000
Total Revenues	144,123,000	139,837,000	408,718,000	400,256,000
Direct expense of events	35,251,000	33,706,000	84,719,000	83,398,000
NASCAR event management fees	39,758,000	39,400,000	112,381,000	108,576,000
Other direct operating expense	4,796,000	4,127,000	14,888,000	14,006,000
General and administrative	26,712,000	25,414,000	75,256,000	74,065,000
Depreciation and amortization (Note 2)	20,304,000	13,540,000	47,014,000	42,451,000
Interest expense, net	3,511,000	5,358,000	13,361,000	16,285,000
Other expense (income), net	749,000	(61,000)	408,000	(2,487,000)
Total Expenses and Other	131,081,000	121,484,000	455,267,000	336,294,000
Income from Continuing Operations Before Income Taxes	13,042,000	18,353,000	(46,549,000)	63,962,000
Provision for Income Taxes	(4,489,000)	(9,336,000)	18,487,000	(25,811,000)
Income from Continuing Operations	$ (8,553,000)	(9,017,000)	28,062,000	(38,151,000)
Income from Discontinued Operations		5,978,000	(8,000)	5,910,000
Net Income	$ 8,553,000	$ 14,995,000	$ (28,070,000)	$ 44,061,000
Basic earnings (loss) per share (in dollars per share)	$ 0.21	$ 0.22	$ (0.68)	$ 0.92
Discontinued Operation, Basic (in dollars per share)		0.14	0	0.14
Net Income (in dollars per share)	$ 0.21	$ 0.36	$ (0.68)	$ 1.06
Weighted Average Shares Outstanding (in shares)	41,267	41,372	41,306	41,396
Continuing Operations, Diluted (in dollars per share)	$ 0.21	$ 0.22	$ (0.68)	$ 0.92
Discontinued Operation, Diluted (in dollars per share)		0.14	0	0.14
Net Income (in dollars per share)	$ 0.21	$ 0.36	$ (0.68)	$ 1.06
Weighted average common shares outstanding and assumed conversions (in shares)	41,288	41,388	41,336	41,416
Impairment of other intangible assets and goodwill (Note 4)			$ 98,868,000
Loss on early debt redemption and refinancing (Note 5)			8,372,000
Income from Continuing Operations	$ 8,553,000	$ 9,017,000	(28,062,000)	$ 38,151,000
Income from Discontinued Operations		$ 5,978,000	$ (8,000)	$ 5,910,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2014	41,340
Balance at Dec. 31, 2014	$ 456	$ 252,571	$ 671,648	$ (93,530)	$ 831,145
Net loss			(28,070)		(28,070)
Share-based compensation, net of windfall tax benefits adjustment (Note 9) (in shares)	72
Share-based compensation, net of windfall tax benefits adjustment (Note 9)	$ 1	983			984
Exercise of stock options (in shares)	46
Exercise of stock options		732			732
Quarterly cash dividends of $0.15 per share of common stock			(18,623)		(18,623)
Repurchases of common stock (in shares)	(216)
Repurchases of common stock				(4,796)	(4,796)
Balance (in shares) at Sep. 30, 2015	41,242
Balance at Sep. 30, 2015	$ 457	$ 254,286	$ 624,955	$ (98,326)	$ 781,372

Consolidated Statement of Stoc6

Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2015$ / shares
Retained Earnings [Member]
Cash dividends, per share of common stock (in dollars per share)	$ 0.15

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash Flows from Operating Activities:
Net loss	$ (28,070)	$ 44,061
Loss (income) from discontinued operation	8	(5,910)
Cash (used) provided by activities of discontinued operation	(8)	$ 5,910
Adjustments to reconcile (loss) income from continuing operations to net cash provided by operating activities:
Impairment of other intangible assets and goodwill	98,868
Loss (gain) on disposals of property and equipment and other assets and insurance recovery	209	$ (2,366)
Deferred loan cost amortization	1,287	1,332
Interest expense accretion of debt discount and premium, net	(121)	(496)
Depreciation and amortization	47,014	42,451
Amortization of deferred income	(1,803)	(1,699)
Deferred income tax provision	(20,105)	25,525
Share-based compensation	2,520	1,991
Changes in operating assets and liabilities:
Accounts and notes receivable	(4,113)	(1,782)
Prepaid, refundable and accrued income taxes	293	(492)
Inventories	(472)	(380)
Prepaid expenses	1,094	907
Accounts payable	5,747	7,953
Deferred race event and other income	(11,326)	(13,604)
Accrued interest	(5,336)	(4,224)
Accrued expenses and other liabilities	6,494	7,614
Deferred income	889	266
Other assets and liabilities	(13)	127
Net Cash Provided By Operating Activities	93,056	$ 107,184
Cash Flows from Financing Activities:
Borrowings under long-term debt	251,383
Principal payments on long-term debt	(321,125)	$ (61,125)
Payment of debt refinancing costs	(3,970)
Dividend payments on common stock	(18,623)	$ (18,662)
Exercise of common stock options	732	47
Repurchases of common stock	(4,796)	(2,612)
Net Cash Used By Financing Activities	(96,399)	(82,352)
Cash Flows from Investing Activities:
Payments for capital expenditures	(20,406)	(19,647)
Proceeds from sales of property and equipment and insurance recovery	519	1,418
Repayment of notes and other receivables	499	209
Net Cash Used By Investing Activities	(19,388)	(18,020)
Net (Decrease) Increase in Cash and Cash Equivalents	(22,731)	6,812
Change in cash collected for and payable to third party, cash not provided or used by operating activities (Note 2)	29	(72)
Cash and Cash Equivalents at Beginning of Period	110,046	97,343
Cash and Cash Equivalents at End of Period	87,344	104,083
Supplemental Cash Flow Information:
Cash paid for interest, net of amounts capitalized	19,068	20,640
Cash paid for income taxes	599	554
Supplemental Non-Cash Investing and Financing Activities Information:
Increase in accounts payable for capital expenditures	$ 98	$ 783

Note 1 - Description of Busines

Note 1 - Description of Business	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Nature of Operations [Text Block]	1. DESCRIPTION OF BUSINESS Basis of Presentation The consolidated financial statements include the accounts of Speedway Motorsports, Inc. and all of its wholly-owned and operating subsidiaries: Atlanta Motor Speedway LLC (AMS), Bristol Motor Speedway LLC (BMS), Charlotte Motor Speedway LLC (CMS), Kentucky Raceway LLC d/b/a Kentucky Speedway (KyS), Nevada Speedway LLC d/b/a Las Vegas Motor Speedway (LVMS), New Hampshire Motor Speedway, Inc. (NHMS), North Wilkesboro Speedway, Inc. (NWS), Speedway Sonoma LLC (Sonoma Raceway or SR), Texas Motor Speedway, Inc. (TMS), SMISC Holdings, Inc. d/b/a SMI Properties (SMI Properties), US Legend Cars International, Inc. (Legend Cars), Oil-Chem Research Corporation (Oil-Chem), SMI Trackside LLC (SMI Trackside), Speedway Funding LLC, Speedway Motorsports International Limited (BVI) and consolidated foreign entity (SMIL), Speedway Properties Company LLC a/k/a Performance Racing Network (PRN), Speedway Media LLC a/k/a Racing Country USA (RCU), and TSI Management Company LLC d/b/a The Source International LLC (TSI) (collectively, the Company, SMI, we, our or us). Hereafter, references to “the Company’s” or “eight” speedways exclude NWS, which presently has no significant operations and assets consist primarily of real estate which has no significant fair value. See Notes 1 and 2 to the Consolidated Financial Statements in the Company’s 2014 Annual Report on Form 10-K (2014 Annual Report) for further description of its business operations, properties and scheduled events. Racing Events – In 2015 , we are holding 24 major annual racing events sanctioned by the National Association for Stock Car Auto Racing, Inc. (NASCAR), including 13 Sprint Cup and 11 Xfinity Series racing events. We also plan to hold eight NASCAR Camping World Truck Series, three NASCAR K&N Pro Series, four NASCAR Whelen Modified Tour, two IndyCar Series, six major National Hot Rod Association (NHRA), one Automobile Racing Club of America (ARCA) and three World of Outlaws (WOO) racing events. In 2014, we held 24 major annual racing events sanctioned by NASCAR, including 13 Sprint Cup and 11 Xfinity Series racing events. We also held seven NASCAR Camping World Truck Series, three NASCAR K&N Pro Series, four NASCAR Whelen Modified Tour, two IndyCar Series, six major NHRA, one ARCA and three WOO racing events. Discontinued Oil and Gas Activities In 2008, we discontinued our oil and gas operations primarily because of ongoing challenges and business risks in conducting these activities in foreign countries. We have no continuing involvement or ownership interest in these discontinued operations, and there are no assets, liabilities, revenues or expenses (other than as described below) associated with discontinued operations for any period presented herein. Al l note disclosures pertain to continuing operations unless otherwise indicated. In the three months ended September 30, 2014, we recovered approximately $6.0 million of previously reserved receivables through favorable settlements . We incurred insignificant legal fees and other costs in the three and nine months ended September 30, 2015 and 2014 associated with efforts to recover previously reserved receivables. There were no associated income tax benefits reflected in discontinued operations for any period presented. See Note 2 – Income Taxes for associated reporting of income taxes related to the 2014 settlement.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies and Other Disclosures	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES AND OTHER DISCLOSURES These unaudited consolidated financial statements should be read in conjunction with the Company's consolidated financial statements included in its 2014 Annual Report. In management's opinion, these unaudited consolidated financial statements contain all adjustments necessary for their fair presentation at interim periods in accordance with accounting principles generally accepted in the United States. All such adjustments are of a normal recurring nature unless otherwise noted. The results of operations for interim periods are not necessarily indicative of operating results that may be expected for the entire year due to the seasonal nature of the Company's motorsports business. See Note 2 to the Consolidated Financial Statements in our 2014 Annual Report for further discussion of significant accounting policies. Quarterly Reporting – The Company recognizes revenues and operating expenses for all events in the calendar quarter in which conducted. Changes in race schedules at the Company's speedways from time to time, including speedway acquisitions, can lessen the comparability of operating results between quarterly financial statements of successive years and increase or decrease the seasonal nature of its motorsports business. The more significant racing schedule changes for the three and nine months ended September 30, 2015 as compared to 2014 include: • AMS held one NASCAR Sprint Cup and one Xfinity Series racing event in the first quarter 2015 that were held in the third quarter 2014, and one NASCAR Camping World Truck Series racing event (same day as the Xfinity event) in the first quarter 2015 that was not held in 2014 • KyS held one NASCAR Sprint Cup , one Xfinity and one Camping World Truck Series racing event in the third quarter 2015 that were held in the second quarter 2014 • LVMS held one NASCAR Camping World Truck Series racing event in the third quarter 2014 that is being held in the fourth quarter 2015 Income Tax es the Consolidated Financial Statements in our 2014 Annual Report for additional information on our accounting for income taxes. Our effective income tax rates for the three and nine months ended September 30, 2015 were 34.4% and 39.7%. Our 2015 effective tax rates reflect a non-recurring tax benefit of $610,000 resulting from certain state income tax law changes. The tax rate for the nine months ended September 30, 2015 also reflects an approximate 2% increase associated with second quarter 2015 intangible asset and goodwill impairment charges and adjustments to certain deferred tax assets. Our effective income tax rates for the three and nine months ended September 30, 2014 were 50.9% and 40.4%. Our 2014 effective tax rates reflect income tax expense of $2.5 million associated with a recovery settlement further described in Note 1 - Discontinued Oil and Gas Activities. The tax rate for the nine months ended September 30, 2014 also reflects derecognition of accrued interest and penalties for estimated income tax liabilities of $397,000. Income tax liabilities for unrecognized tax benefits approximate $885,000 as of September 30, 2015 and December 31, 2014, and are included in other noncurrent liabilities, all of which would favorably impact the Company’s effective tax rate if recognized. As of September 30, 2015 and December 31, 2014, management believes $386,000 of unrecognized tax benefits will be recognized within the next twelve months. Interest and penalties associated with unrecognized tax benefits of $8,000 and $22,000 were recognized in the three and nine months ended September 30, 2015, and $483,000 were derecognized in the three and nine months ended September 30, 2014. As of September 30, 2015 and December 31, 2014, the Company had $350,000 and $328,000 accrued for the payment of interest and penalties on uncertain tax positions, which is included in other noncurrent liabilities. The tax years that remain open to examination include 2006 through 2014 by the California Franchise Tax Board, and 2011 through 2014 by all other taxing jurisdictions to which the Company is subject. In the nine months ended September 30, 2015 and 2014, current income taxes payable of approximately $21.6 million and $31.5 million, respectively, were reduced by utilization of current deferred income tax assets described below. Anticipated Income Tax Benefit From Equity Interest Abandonment The Company believes it is more likely than not that its filing position would be sustained based on its technical merits upon examination with taxing authorities that have full knowledge of all relevant information. The Company reached this conclusion based on the use of outside legal counsel and other tax consultants and the potential to utilize tax losses. Under applicable accounting guidance, tax positions are measured at the largest amount of benefit that is greater than 50 percent likely (or more-likely-than not) of being ultimately realized. As such, the full anticipated tax benefit was recognized because the Company believes that partial sustaining of its tax position by taxing authorities would be an unlikely outcome given the nature of the position. The Company believes it will fully utilize the associated tax losses. Should the Company’s tax position not be fully sustained if examined, a valuation allowance would be required to reduce or eliminate the associated deferred tax assets and material acceleration of income taxes then currently payable could occur. Any differences between the final tax outcome and amounts recorded would affect the Company’s income tax provision in the period in which such determination was made. Taxes Collected from Customers – The Company reports sales, admission and other taxes collected from customers on both a gross and net basis in operations. Such taxes reported on a gross basis for the three months ended September 30, 2015 and 2014 were $1,591,000 and $1,819,000, and for the nine months ended September 30, 2015 and 2014 were $4,582,000 and $4,157,000. Advertising Expenses – Event specific advertising costs are expensed when an associated event is held and included principally in direct expense of events. Non-event related advertising costs are expensed as incurred and included principally in other direct operating expense. Advertising expense amounted to $7,537,000 and $5,381,000 for the three months ended September 30, 2015 and 2014, and $13,077,000 and $13,735,000 for the nine months ended September 30, 2015 and 2014. There were no deferred direct-response advertising costs at September 30, 2015 or December 31, 2014. Fair Value of Financial Instruments The Company follows applicable authoritative guidance which requires that financial and non-financial assets and liabilities measured and reported on a fair value basis be classified, disclosed and categorized as further described below. Fair value estimates are based on relevant market information and single broker quoted market prices where available at a specific point in time, and changes in assumptions or market conditions could significantly affect estimates. The carrying values of cash and cash equivalents, accounts and notes receivable, certain other assets and accounts payable approximate fair value because of the short maturity of these financial instruments. Cash surrender values are carried at fair value based on binding broker quoted market prices. Notes and other receivables and bank revolving credit facility and term loan borrowings are variable interest rate financial instruments and, therefore, carrying values approximate fair value. The fixed rate senior notes payable are publicly traded and estimated fair values are based on single broker quoted market prices. Other long-term debt is non-interest bearing and discounted based on estimated current cost of borrowings and, therefore, carrying values approximate market value. There have been no changes or transfers between category levels or classes. The following table presents estimated fair values and categorization levels of the Company’s financial instruments (in thousands): September 30, 2015 December 31, 2014 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 87,344 $ 87,344 $ 110,046 $ 110,046 Cash surrender values 2 NR 8,434 8,434 8,177 8,177 Liabilities Floating rate revolving Credit Facility, including Term Loan 2 NR 130,000 130,000 150,000 150,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 196,000 - - 6.75% Senior Notes Payable previously due 2019 (Note 5) 2 NR - - 253,372 257,500 Other long-term debt 2 NR 1,754 1,754 1,445 1,445 Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Class R: Measured at fair value on recurring basis, subsequent to initial recognition. Class NR: Measured at fair value on nonrecurring basis, subsequent to initial recognition. Land Conservation Easement - Property and Equipment In the second quarter 2014, the Company recorded accelerated depreciation on certain damaged BMS assets of $651,000 and removal of approximately 7,000 low demand NHMS seats of $1,131,000. Also in the second quarter 2014, the Company reflected a gain from involuntary conversion of certain TMS property, increasing property and equipment and other income, net by approximately $985,000. TMS Oil and Gas Mineral Rights Lease Receipts An initial lease agreement was extended and oil and gas extraction commenced in 2014, entitling TMS to stipulated stand-alone and shared royalties. The lessee expanded production capacity in 2014, including an increased number of extraction wells. At this time, while extraction activities continue, management is unable to determine possible ongoing volumes of production if any or for how long, or if stipulated natural gas price levels will be maintained or adequate. The lease agreement stipulates the sharing of production revenues, and requires TMS to spend a portion of shared royalties on TMS facility and road infrastructure improvements, up to specified amounts. Any future production revenues or royalties are subject to production levels and market prices that can fluctuate significantly and rapidly, as well as other factors outside of TMS’s control. As such, management is unable to determine the amounts if any, or timing, of possible future royalty payments to TMS. As of September 30, 2015 and December 31, 2014, there were no receivables (not since collected) or deferred income associated with the expired or extended agreements. Quicksilver Resources, Inc. (Quicksilver), the company with whom TMS and FWSA contracted for the exploration and extraction of natural gas, filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code on March 17, 2015. On April 15, 2015, the Bankruptcy Court entered a final order approving Quicksilver’s motion to continue operating in the ordinary course by honoring obligations under its oil and gas contracts (such as the contracts with TMS and the FWSA (the Contracts)) in Quicksilver’s business judgment. However, on October 6, 2015 the Bankruptcy Court entered an Order Establishing Bidding Procedure Relating to the Sale of all or a Portion of the Debtors' Assets (potentially including the Contracts). The proposed bid-deadline for the sale is November 30, 2015 and the proposed auction is expected to occur on December 9, 2015. Thereafter, the Bankruptcy Court would conduct a hearing for the approval of the proposed sale, which is scheduled to occur on December 14, 2015. As such, at this time, management is unable to determine if Quicksilver will continue to perform under the contracts for the foreseeable future. Deferred Income , Other Arrangements Consolidated Statements of Cash Flows – At times, the Company collects and temporarily holds cash on behalf of its third-party food and beverage concessionaire which is not remitted until after period end and is presented separately from cash flows from operating activities on the Consolidated Statements of Cash Flows. There are no specific limitations, restrictions or other holding requirements for such cash. Recently Issued Accounting Standards The FASB issued Accounting Standards Update No. 2014-12 "Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period” which requires performance targets that affect vesting and could be achieved after requisite service periods be treated as performance conditions and reflected in estimating grant-date fair values of awards. Compensation cost should be recognized in the periods when achieving performance targets becomes probable, and should represent the compensation cost attributable to periods for which requisite services have already been rendered. If achieving performance targets becomes probable before the end of the requisite service periods, any remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. Among other things, the guidance applies to entities that grant employees share-based payments in which award terms provide that performance targets that affect vesting could be achieved after the requisite service periods. The guidance is effective for annual periods and interim periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the guidance either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update No. 2015-03 "Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” which requires that debt issuance costs related to debt liabilities be presented in the balance sheet as a direct deduction from the associated carrying amount, similar to debt discounts. In August 2015, the FASB issued Update No. 2015-15 “Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements” which provides guidance on presentation and subsequent measurement of debt issuance costs associated with line-of-credit arrangements, and indicating the SEC staff would not object to entities deferring and presenting debt issuance costs as an asset and subsequently amortizing deferred debt issuance costs ratably over line-of-credit arrangement terms even if there are no outstanding borrowings. The guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update No. 2015-11 "Inventory (Topic 330): Simplifying the Measurement of Inventory” which requires measuring inventory at the lower of cost and net realizable value based on estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation (changed from the previous guidance of lower of cost or market). This update also clarified various other inventory measurement and disclosure requirements. The update does not apply to inventory measured using the LIFO or retail inventory methods. The guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and should be applied prospectively. Early application is permitted. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update No. 2015-16 "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments” which requires acquirers in business combinations recognize adjustments to provisional amounts identified during measurement periods in the reporting periods in which adjusted amounts are determined. The update requires that acquirers record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, resulting from changes in provisional amounts, calculated as if the accounting had been completed at acquisition date. The update also requires separate income statement presentation or note disclosure of amounts recorded in current period earnings by line item that would have been recorded in previous reporting periods if the provisional amount adjustments had been recognized at acquisition date (requirements to retrospectively account for those adjustments have been eliminated). This update applies to all entities that reported provisional amounts in a business combination for which the accounting is incomplete by reporting period end, and in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. Entities should disclose the nature and reason for changes in accounting principle in the first annual period of adoption, and in interim periods within the first annual period if there are measurement-period adjustments during the first annual period in which the changes are effective. The guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Amendments in this update should be applied prospectively to adjustments to provisional amounts that occur after its effective date, with earlier application permitted for financial statements that have not been issued. The Company plans to apply this guidance where applicable in any future business combinations.

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. INVENTORIES Inventories, net consist of the following components (in thousands): September 30, December 31, 2015 2014 Finished race cars, parts and accessories $ 5,290 $ 5,186 Souvenirs and apparel 2,795 2,472 Micro-lubricant ® 737 692 Total $ 8,822 $ 8,350

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. GOODWILL AND OTHER INTANGIBLE ASSETS Annual Assessment – evaluates goodwill and other intangible assets for possible impairment annually in the second quarter, or when events or circumstances indicate possible impairment may have occurred. See Notes 2 and 5 to the Consolidated Financial Statements in our 2014 Annual Report for additional information on the Company’s goodwill and other intangible assets and assessment methodology and evaluation. The inputs for measuring fair value are considered "Level 3" or unobservable inputs that are not corroborated by market data under applicable fair value authoritative guidance, as quoted market prices are not available. Management's latest annual assessment in the second quarter 2015 was based predominately on management's best estimate of future discounted operating cash flows and profitability attributable to such assets for all individual reporting units. Management also considered that the estimated market value for comparable NASCAR race event sanction and renewal agreements (the Company has agreements with NASCAR to annually conduct thirteen Sprint Cup, eleven Xfinity and eight Camping World Truck Series races as of the evaluation date), combined with the estimated fair value for all other Company net assets, exceeds its current market capitalization. Management also considered recent market trading ranges of price to earnings and sales multiples, cash flow and other traditional valuation methods, control premiums, and other market information related to the Company’s common stock from historical and forward-looking perspectives. Impairment of Other Intangible Assets – ur 2014 annual assessment found that the excess of estimated fair value over associated aggregate carrying values for material non-amortizable race date event sanctioning and renewal agreements associated with NHMS was relatively nominal, resulting in heightened sensitivity to management’s assumptions used in estimating future discounted cash flows and profitability and associated risk of failing impairment testing. Our 2015 annual assessment found the estimated fair value of each reporting unit and each indefinite-lived intangible asset substantially exceeded its associated carrying value except for those NHMS race date agreements. NHMS was acquired in 2008 largely before the severe economic recession, which has resulted in long-term operating challenges for many major sports. The 2015 evaluation reflects continuing lowered estimated future cash flows because the economic recovery has been slower and weaker than previous forecasts, and ongoing lower than anticipated revenues for various major racing events held at NHMS. The evaluation also reflects, similar to challenges faced by many major sports, reduced visibility on profit recovery due to factors such as changing demographics, evolving entertainment choices for fans and appealing “at-home viewing” experiences. As a result, the Company lowered its expectations for forecasted growth rates for certain revenues and profit recovery. As such, a non-cash impairment charge of $96,530,000, before income tax benefits of $37,502,000, was reflected in the second quarter 2015 to reduce the race date intangible assets to estimated fair value. Impairment of Goodwill – Our 2015 annual assessment indicated that goodwill associated with SMI Trackside, which conducts event souvenir merchandising at our and other third-party speedways, was impaired because of potentially unfavorable developments associated with NASCAR’s announced industry changes to the trackside merchandising business model. As such, a non-cash impairment charge of $2,338,000, before income tax benefits of $908,000, was reflected in the second quarter 2015 to reduce associated goodwill to an estimated fair value of $0. These impairment charges are included in the Company’s “motorsports event related” reporting segment (see Note 10). Management believes the methods used to determine fair value and evaluate impairment were appropriate, relevant, and represent methods customarily available and used for such purposes and are the best available estimate of fair value. Management also believes the Company’s operational and cash flow forecasts support its conclusions that no unrecognized impairment exists as of September 30, 2015. Different economic or industry conditions or assumptions, and changes in projected cash flows or profitability, if significantly negative or unfavorable, could have a material adverse effect on the impairment evaluation and the Company’s future financial condition or results of operations. The evaluations are subjective and based on conditions, trends and assumptions existing at the time of evaluation. Other Information - At September 30, 2015, the carrying amounts for goodwill and other intangible assets include accumulated impairments of $148.6 million and $99.8 million, respectively. The gross carrying values and accumulated amortization by class of intangible asset are as follows (dollars in thousands): September 30, 2015 December 31, 2014 Gross Carrying Value Accumulated Amortization Net Gross Carrying Value Accumulated Amortization Net Estimated Amortization Period (Years) Nonamortizable race event sanctioning and renewal agreements $ 298,383 — $ 298,383 $ 394,913 — $ 394,913 — Amortizable race event sanctioning and renewal agreements 100 $ (89 ) 11 100 $ (72 ) 28 5-6 Total $ 298,483 $ (89 ) $ 298,394 $ 395,013 $ (72 ) $ 394,941 Changes in the gross carrying value of other intangible assets and goodwill during the nine months ended September 30, 2015 are as follows (in thousands): Other Intangible Assets Goodwill Balance, beginning of period $ 395,013 $ 49,680 Increase from acquisitions - - Decrease from impairment charges (96,530 ) (2,338 ) Balance, end of period $ 298,483 $ 47,342

Note 5 - Long-term Debt

Note 5 - Long-term Debt	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Long-term Debt [Text Block]	5. LONG-TERM DEBT Bank Credit Facility – (i) provides for a five-year $100,000,000 senior secured revolving credit facility, with separate sub-limits of $50,000,000 for standby letters of credit and $10,000,000 for swing line loans; (ii) provides for a five-year $150,000,000 senior secured term loan (which was fully drawn in December 2014) and a five-year delayed draw term loan of up to $50,000,000 (which was fully drawn in March 2015 and repaid in the second quarter 2015) (the Term Loan or Term Loans); (iii) matures in December 2019; (iv) contains an accordion feature allowing the Company to increase revolving commitments or establish a term loan up to an aggregate additional $100,000,000 or $200,000,000, respectively (or a combined aggregate additional amount of up to $250,000,000) with certain lender commitment conditions; (v) allows for annual aggregate payments of dividends and repurchases of SMI securities of up to $50,000,000, increasing up to $75,000,000 subject to maintaining certain financial covenants; and (vi) limits annual capital expenditures to $75,000,000 and provides for motor speedway acquisitions and related businesses. Term Loans require equal minimum quarterly principal payments of at least 5% of initial amounts drawn on an annualized basis (or $10,000,000 each twelve-month period based on initial draws of $200,000,000). Interest is based, at the Company’s option, upon the Eurodollar Rate plus 1.25% to 2.00% or a base rate defined as the higher of Bank of America’s prime rate, the Federal Funds Rate plus 0.5% or the Eurodollar Rate plus 1%, plus 0.25% to 1.00%. The Credit Facility also contains a commitment fee ranging from 0.25% to 0.40% of unused amounts available for borrowing. The interest rate margins on borrowings and the commitment fee are adjustable periodically based upon certain consolidated total leverage ratios. The Credit Facility contains a number of affirmative and negative financial covenants, including requirements that the Company maintain certain consolidated total leverage ratios and consolidated interest coverage ratios. During the first quarter 2015, the Company borrowed $50,000,000 under the Term Loan (for partial funding of the 2019 Senior Notes redemption as further described below). The Company repaid Term Loan borrowings of $18,125,000 and $70,000,000 during the three and nine months ended September 30, 2015, and $20,000,000 and $60,000,000 during the three and nine months ended September 30, 2014. At September 30, 2015 and December 31, 2014, outstanding borrowings under the Credit Facility were $130,000,000 and $150,000,000 (all Term Loan borrowings), and outstanding letters of credit amounted to $845,000 and $1,152,000. As of September 30, 2015, the Company had availability for borrowing up to an additional $99,155,000, including up to an additional $49,155,000 in letters of credit, under the revolving Credit Facility. 2015 Issuance of New Senior Notes The Company may redeem some or all of the 2023 Senior Notes at annually declining redemption premiums ranging from 103.844% of par in fiscal years beginning February 1, 2018 to par after February 1, 2021, and up to 35% of the 2023 Senior Notes before February 1, 2018 with proceeds from certain equity offerings at a redemption premium of 105.125% of par. The Company may also redeem some or all of the 2023 Senior Notes before February 1, 2018 at par plus a "make-whole" premium. In the event of a change of control, the Company must offer to repurchase the 2023 Senior Notes at 101% of par value. The 2023 Senior Notes rank equally in right of payment with all other Company existing and future unsubordinated debt, are senior in right of payment to any future subordinated debt and are effectively subordinated to all existing and future secured debt, including the Credit Facility. The Indenture governing the 2023 Senior Notes permits dividend payments each year of up to approximately $0.80 per share of common stock, increasable subject to meeting certain financial covenants. The 2023 Senior Notes contain specific requirements and restrictive financial covenants and limitations, guarantees and cross-default provisions generally similar to those of the 2019 Senior Notes. 2015 Early Redemption of 2019 Senior Notes – ,106,000, for associated redemption premium, unamortized net deferred loan costs of $3,134,000 and transaction costs, net of issuance premium of $3,200,000. Other Notes Payable Other Terms and Conditions . See Note 6 to the Consolidated Financial Statements included in the Company’s 2014 Annual Report for additional information on these debt agreements, including dividend, redemption, and right of payment provisions, pledged security and financial and restrictive covenants. Subsidiary Guarantees – Interest Expense, Net – Three Months Ended Nine Months Ended September 30: September 30: 2015 2014 2015 2014 Gross interest costs $ 3,622 $ 5,478 $ 13,932 $ 16,692 Less: capitalized interest costs (64 ) (77 ) (200 ) (276 ) Interest expense 3,558 5,401 13,732 16,416 Interest income (47 ) (43 ) (371 ) (131 ) Interest expense, net $ 3,511 $ 5,358 $ 13,361 $ 16,285 Weighted-average interest rate on Credit Facility borrowings 1.8 % 2.0 % 1.9 % 2.1 % During the first quarter 2015, the Company incurred net interest expense of $1,688,000 on the former 2019 Senior Notes between January 27, 2015 (issuance date of the new 2023 Senior Notes) and March 13, 2015 (redemption date of the 2019 Senior Notes). The new notes were issued before redemption of the former notes because of a favorable interest rate environment and required notice of redemption to 2019 Senior Note holders by the Company.

Note 6 - Per Share and Other Eq

Note 6 - Per Share and Other Equity Information	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Stockholders Equity and Earnings Per Share [Text Block]	6. PER SHARE AND OTHER EQUITY INFORMATION The following schedule reconciles basic and diluted income (loss) per share from continuing operations (where computations are anti-dilutive, reported basic and diluted per share amounts are the same) (in thousands except per share amounts): Three Months Ended Nine Months Ended September 30: September 30: 2015 2014 2015 2014 Income (loss) from continuing operations applicable to common stockholders and assumed conversions $ 8,553 $ 9,017 $ (28,070 ) $ 38,151 Weighted average common shares outstanding 41,267 41,372 41,306 41,396 Dilution effect of assumed conversions: Common stock equivalents—stock awards 21 16 30 20 Weighted average common shares outstanding and assumed conversions 41,288 41,388 41,336 41,416 Basic earnings (loss) per share $ 0.21 $ 0.22 $ (0.68 ) $ 0.92 Diluted earnings (loss) per share $ 0.21 $ 0.22 $ (0.68 ) $ 0.92 Anti-dilutive common stock equivalents excluded in computing diluted earnings (loss) per share 238 686 190 637 Stock Repurchase Program The Company’s Board of Directors has approved a stock repurchase program authorizing SMI to repurchase up to an aggregate of 5,000,000 shares of the Company’s outstanding common stock from time to time, depending on market conditions, share price, applicable limitations under the Company’s debt agreements (see Note 5), and other factors the Board of Directors or its designees, in their sole discretion, may consider relevant. The purchases can be in the open market or private transactions. The stock repurchase program is presently funded using available cash and cash equivalents and may be suspended or discontinued at any time. During the three and nine months ended September 30, 2015, the Company repurchased 64,000 and 188,000 shares of common stock for $1,322,000 and $4,154,000. As of September 30, 2015, the Company could repurchase up to an additional 758,000 shares under the current authorization. During the nine months ended September 30, 2015, the Company repurchased approximately 28,000 shares of common stock for $643,000 from management employees to settle income taxes on 60,000 restricted shares that vested during the period. As of and through September 30, 2015, treasury stock includes 190,000 shares of common stock delivered to the Company for such purposes. Declaration of Cash Dividends Declaration date February 11, 2015 April 15, 2015 July 15, 2015 October 14, 2015 Record date March 2, 2015 May 15, 2015 August 14, 2015 November 13, 2015 Paid or payable to shareholders March 13, 2015 June 5, 2015 September 4, 2015 December 4, 2015 Aggregate quarterly cash dividend $ 6,233 $ 6,198 $ 6,192 Approximately $6,200 Dividend per common share $ 0.15 $ 0.15 $ 0.15 $ 0.15

Note 7 - Related Party Transact

Note 7 - Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. RELATED PARTY TRANSACTIONS Before July 30, 2002, the Company made loans to, paid certain expenses on behalf of and had a loan due to Sonic Financial Corporation (Sonic Financial), a Company affiliate through common ownership by the Company's Executive Chairman and Chief Executive Officer, for various corporate purposes. The Company and Sonic Financial share various expenses in the ordinary course of business under a shared services agreement. Due to final loan repayment and settlement in 2014, no amounts were due at September 30, 2015 and December 31, 2014. The amounts due under the prior agreements were reduced from shared expenses and repayments, net of accrued interest, by $104,000 and $508,000 in the three and nine months ended September 30, 2014. The Company incurred expenses under the shared services agreement of $143,000 and $355,000 in the three and nine months ended September 30, 2015. The Company and certain SMI subsidiaries lease office and warehouse facilities from companies affiliated through common ownership by the Company's Executive Chairman and Chief Executive Officer, under annually renewable lease agreements. Rent expense amounted to $181,000 and $164,000 in the three months ended September 30, 2015 and 2014, and $518,000 and $497,000 in the nine months ended September 30, 2015 and 2014. Amounts owed to these affiliated companies at September 30, 2015 and December 31, 2014 were not significant. Various SMI subsidiaries purchased new and used vehicles for operations and employee use from certain subsidiary dealerships of Sonic Automotive, Inc. (SAI), an entity in which Sonic Financial is a controlling stockholder, for an aggregate of $17,000 and $10,000 in the three months ended September 30, 2015 and 2014, and $58,000 and $171,000 in the nine months ended September 30, 2015 and 2014. There were no vehicles sold to SAI in the three or nine months ended September 30, 2015 and 2014. Also, SMI sold through certain speedways and its SMIP merchandising subsidiary various event related inventory and merchandise to SAI totaling $221,000 and $141,000 in the three months ended September 30, 2015 and 2014, and $688,000 and $474,000 in the nine months ended September 30, 2015 and 2014. At September 30, 2015 and December 31, 2014, approximately $92,000 and $89,000 was due from SAI and is reflected in current assets. Oil-Chem sold zMAX micro-lubricant product to certain dealerships of SAI for resale to service customers of the dealerships in the ordinary course of business. Total purchases from Oil-Chem by SAI dealerships approximated $561,000 and $582,000 in the three months ended September 30, 2015 and 2014, and $1,651,000, and $1,645,000 in the nine months ended September 30, 2015 and 2014. At September 30, 2015 and December 31, 2014, approximately $177,000 and $143,000 was due from SAI to Oil-Chem and is reflected in current assets. SMI Properties and, to a lesser extent, other SMI subsidiaries purchased and sold motorsports merchandise, and received commissions from MA for merchandise sold during Company events. As further described in Note 2, the Company abandoned its interest in MA on January 31, 2014, after which MA is no longer a related party. Merchandise purchases in the one month ended January 31, 2014 approximated $234,000. Merchandise sales and event related commissions in the one month ended January 31, 2014 approximated $60,000. The foregoing related party balances as of September 30, 2015 and December 31, 2014, and transactions for the three and nine months ended September 30, 2015 and 2014, are summarized below (in thousands): September 30, 2015 December 31, 2014 Notes and other receivables $ 269 $ 232 Three Months Ended September 30: Nine Months Ended September 30: 2015 2014 2015 2014 Merchandise and vehicle purchases $ 17 $ 10 $ 58 $ 405 Shared services expense, net of reimbursements 143 95 355 486 Merchandise and vehicle sales and event related commissions 782 723 2,339 2,179 Rent expense 181 164 518 497 Interest income - 17 - 54 Interest expense - 26 - 76

Note 8 - Legal Proceedings and

Note 8 - Legal Proceedings and Contingencies	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. LEGAL PROCEEDINGS AND CONTINGENCIES From time to time, we are party to routine litigation incidental to our business. We believe that the resolution of any or all of such litigation will not have a material effect on our financial condition, results of operations or cash flows.

Note 9 - Stock Compensation Pla

Note 9 - Stock Compensation Plans	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. STOCK COMPENSATION PLANS 2013 Stock Incentive Plan The Compensation Committee of the Company’s Board of Directors approved grants of 35,000 restricted stock units to the Company’s Chief Executive Officer and President (former Chief Operating Officer until February 2015) and 35,000 shares of restricted stock to the Company’s Vice Chairman and Chief Financial Officer in each of the nine months ended September 30, 2015 and 2014. These grants are to be settled in shares of common stock, vest in equal installments over three years and are subject to reaching certain defined full year earnings targets established at the beginning of each year by the Compensation Committee. An additional 65,000 restricted stock units were granted to the Company’s Chief Executive Officer and President in the nine months ended September 30, 2015 under the same conditions as described above except with a vesting period of five years. Forfeitures in any given year result from differences between the Company’s actual results for the previous year as compared to the defined full year earnings target. The following is a summary of restricted stock and restricted stock units granted, vested and forfeited under the Incentive Compensation Plan for the indicated periods (shares in thousands): Nine Months Ended September 30: 2015 2014 Restricted Stock Restricted Stock Units Restricted Stock Restricted Stock Units Outstanding, beginning of period 64 64 59 59 Granted 35 100 35 35 Vested (29 ) (29 ) (27 ) (27 ) Forfeited (3 ) (3 ) (3 ) (3 ) Outstanding, end of period 67 132 64 64 In the nine months ended September 30, 2015 and 2014, the Company repurchased 28,000 and 26,000 shares of common stock for $630,000 and $523,000 from executive management employees to settle income taxes on 58,000 and 54,000 shares that vested during the period, respectively. Also, the Company awarded 4,500 shares of restricted stock to a non-executive management employee during the nine months ended September 30, 2014 under the 2013 Plan which vest in equal installments over three years. The Company repurchased approximately 500 shares of common stock for $13,000 from the employee during the nine months ended September 30, 2015 to settle income taxes on 1,500 shares that vested during the period. 2008 Formula Restricted Stock Plan, Amended and Restated as of April 17, 2012 Share-Based Payments Share-based compensation cost for the three months ended September 30, 2015 and 2014 totaled $869,000 and $682,000, before income taxes of $323,000 and $255,000, and for the nine months ended September 30, 2015 and 2014 totaled $2,520,000 and $1,990,000, before income taxes of $938,000 and $726,000, respectively, and is included in general and administrative expense. There were no capitalized share-based compensation costs at September 30, 2015 or December 31, 2014. The Company’s consolidated financial statements for the nine months ended September 30, 2015 reflect a reduction of additional paid-in capital of $1,537,000 and deferred tax assets of approximately $1,874,000 and an increase in income tax expense of $337,000 for windfall tax benefits associated with share-based compensation. Although the adjustment pertains to previous reporting periods, the Company believes the impact was not material to prior or current periods. As of September 30, 2015, there was approximately $3,775,000 of total unrecognized compensation cost related to non-vested restricted stock and restricted stock units granted under the 2013 Plan, the 2004 Plan and the 2008 Formula Plan that is expected to be recognized over a weighted average period of 1.3 years. As of September 30, 2015, all stock options were vested and there was no unrecognized compensation cost related to stock options granted under any of the Company’s stock compensation plans. See Note 11 to the Consolidated Financial Statements in our 2014 Annual Report for additional information and terms of the Company’s stock compensation plans.

Note 10 - Segment Disclosures

Note 10 - Segment Disclosures	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10 . SEGMENT DISCLOSURES The Company’s operations are predominately comprised of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at its various major speedway facilities located in the United States. The Company’s business activities, including those of its subsidiaries, are further described in Notes 1 and 2 to the Consolidated Financial Statements in our 2014 Annual Report. The Company’s “motorsports event related” segment consists of revenues and expenses associated with all admissions, event related, NASCAR broadcasting and event motorsports merchandising activities. The segment includes motorsports related events and operations for all Company speedways, NASCAR broadcasting and ancillary media rights, PRN and RCU motorsports radio programming, and SMI Properties and SMI Trackside motorsports merchandising at Company and non-Company speedways. These operating segments have been aggregated into the motorsports related reporting segment as each share similar types and classes of customers, similar methods for providing or distributing motorsports related services, souvenirs and other merchandise, and other similar economic characteristics. The Company’s “all other” operations consist of SMIP subsidiary non-event motorsports and non-motorsports merchandising, Legend Cars non-event merchandising and sanctioning body activities, Oil-Chem micro-lubricant activities, TMS oil and gas mineral rights lease and related revenues, and office rentals at certain Company speedways. All segment information below pertains to continuing operations. Segment information as presented below comports with information the Company’s chief operating decision maker and management use and focus on when assessing segment performance and allocating resources. Segment operating income or loss excludes interest, taxes, other income or expense and specified non-recurring items, if any, and corporate general and administrative and depreciation costs are allocated to operating segments based on their respective revenues relative to consolidated revenues. The following tables present segment information on continuing operations (in thousands): Three Months Ended September 30: 2015 2014 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 136,748 $ 7,375 $ 144,123 $ 134,698 $ 5,139 $ 139,837 Depreciation and Amortization (Note 2) 20,259 45 20,304 13,493 47 13,540 Segment operating income 13,455 3,847 17,302 22,256 1,394 23,650 Nine Months Ended September 30: 2015 2014 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 392,295 $ 16,423 $ 408,718 $ 385,839 $ 14,417 $ 400,256 Depreciation and Amortization (Note 2) 46,885 129 47,014 42,307 144 42,451 Impairment of other intangible assets and goodwill (Note 4) 98,868 – 98,868 – – – Segment operating (loss) income (29,473 ) 5,065 (24,408 ) 75,183 2,577 77,760 Capital expenditures 20,367 39 20,406 19,597 50 19,647 September 30, 2015 December 31, 2014 Other intangibles $ 298,394 – $ 298,394 $ 394,941 – $ 394,941 Goodwill 47,342 – 47,342 49,680 – 49,680 Total assets 1,525,756 $ 24,678 1,550,434 1,694,103 $ 24,164 1,718,267 The following table reconciles segment operating income or loss above to consolidated income or loss before income taxes (both from continuing operations) for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30: September 30: 2015 2014 2015 2014 Total segment operating income (loss) $ 17,302 $ 23,650 $ (24,408 ) $ 77,760 Adjusted for: Interest expense, net (3,511 ) (5,358 ) (13,361 ) (16,285 ) Loss on early debt redemption and refinancing (Note 5) – – (8,372 ) – Other income (expense), net (749 ) 61 (408 ) 2,487 Consolidated income (loss) before income taxes $ 13,042 $ 18,353 $ (46,549 ) $ 63,962

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Quarterly Reporting [Policy Text Block]	Quarterly Reporting – The Company recognizes revenues and operating expenses for all events in the calendar quarter in which conducted. Changes in race schedules at the Company's speedways from time to time, including speedway acquisitions, can lessen the comparability of operating results between quarterly financial statements of successive years and increase or decrease the seasonal nature of its motorsports business. The more significant racing schedule changes for the three and nine months ended September 30, 2015 as compared to 2014 include: • AMS held one NASCAR Sprint Cup and one Xfinity Series racing event in the first quarter 2015 that were held in the third quarter 2014, and one NASCAR Camping World Truck Series racing event (same day as the Xfinity event) in the first quarter 2015 that was not held in 2014 • KyS held one NASCAR Sprint Cup , one Xfinity and one Camping World Truck Series racing event in the third quarter 2015 that were held in the second quarter 2014 • LVMS held one NASCAR Camping World Truck Series racing event in the third quarter 2014 that is being held in the fourth quarter 2015
Income Tax, Policy [Policy Text Block]	Income Tax es the Consolidated Financial Statements in our 2014 Annual Report for additional information on our accounting for income taxes. Our effective income tax rates for the three and nine months ended September 30, 2015 were 34.4% and 39.7%. Our 2015 effective tax rates reflect a non-recurring tax benefit of $610,000 resulting from certain state income tax law changes. The tax rate for the nine months ended September 30, 2015 also reflects an approximate 2% increase associated with second quarter 2015 intangible asset and goodwill impairment charges and adjustments to certain deferred tax assets. Our effective income tax rates for the three and nine months ended September 30, 2014 were 50.9% and 40.4%. Our 2014 effective tax rates reflect income tax expense of $2.5 million associated with a recovery settlement further described in Note 1 - Discontinued Oil and Gas Activities. The tax rate for the nine months ended September 30, 2014 also reflects derecognition of accrued interest and penalties for estimated income tax liabilities of $397,000. Income tax liabilities for unrecognized tax benefits approximate $885,000 as of September 30, 2015 and December 31, 2014, and are included in other noncurrent liabilities, all of which would favorably impact the Company’s effective tax rate if recognized. As of September 30, 2015 and December 31, 2014, management believes $386,000 of unrecognized tax benefits will be recognized within the next twelve months. Interest and penalties associated with unrecognized tax benefits of $8,000 and $22,000 were recognized in the three and nine months ended September 30, 2015, and $483,000 were derecognized in the three and nine months ended September 30, 2014. As of September 30, 2015 and December 31, 2014, the Company had $350,000 and $328,000 accrued for the payment of interest and penalties on uncertain tax positions, which is included in other noncurrent liabilities. The tax years that remain open to examination include 2006 through 2014 by the California Franchise Tax Board, and 2011 through 2014 by all other taxing jurisdictions to which the Company is subject. In the nine months ended September 30, 2015 and 2014, current income taxes payable of approximately $21.6 million and $31.5 million, respectively, were reduced by utilization of current deferred income tax assets described below. Anticipated Income Tax Benefit From Equity Interest Abandonment The Company believes it is more likely than not that its filing position would be sustained based on its technical merits upon examination with taxing authorities that have full knowledge of all relevant information. The Company reached this conclusion based on the use of outside legal counsel and other tax consultants and the potential to utilize tax losses. Under applicable accounting guidance, tax positions are measured at the largest amount of benefit that is greater than 50 percent likely (or more-likely-than not) of being ultimately realized. As such, the full anticipated tax benefit was recognized because the Company believes that partial sustaining of its tax position by taxing authorities would be an unlikely outcome given the nature of the position. The Company believes it will fully utilize the associated tax losses. Should the Company’s tax position not be fully sustained if examined, a valuation allowance would be required to reduce or eliminate the associated deferred tax assets and material acceleration of income taxes then currently payable could occur. Any differences between the final tax outcome and amounts recorded would affect the Company’s income tax provision in the period in which such determination was made.
Taxes Collected from Customers [Policy Text Block]	Taxes Collected from Customers – The Company reports sales, admission and other taxes collected from customers on both a gross and net basis in operations. Such taxes reported on a gross basis for the three months ended September 30, 2015 and 2014 were $1,591,000 and $1,819,000, and for the nine months ended September 30, 2015 and 2014 were $4,582,000 and $4,157,000.
Advertising Costs, Policy [Policy Text Block]	Advertising Expenses – Event specific advertising costs are expensed when an associated event is held and included principally in direct expense of events. Non-event related advertising costs are expensed as incurred and included principally in other direct operating expense. Advertising expense amounted to $7,537,000 and $5,381,000 for the three months ended September 30, 2015 and 2014, and $13,077,000 and $13,735,000 for the nine months ended September 30, 2015 and 2014. There were no deferred direct-response advertising costs at September 30, 2015 or December 31, 2014.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The Company follows applicable authoritative guidance which requires that financial and non-financial assets and liabilities measured and reported on a fair value basis be classified, disclosed and categorized as further described below. Fair value estimates are based on relevant market information and single broker quoted market prices where available at a specific point in time, and changes in assumptions or market conditions could significantly affect estimates. The carrying values of cash and cash equivalents, accounts and notes receivable, certain other assets and accounts payable approximate fair value because of the short maturity of these financial instruments. Cash surrender values are carried at fair value based on binding broker quoted market prices. Notes and other receivables and bank revolving credit facility and term loan borrowings are variable interest rate financial instruments and, therefore, carrying values approximate fair value. The fixed rate senior notes payable are publicly traded and estimated fair values are based on single broker quoted market prices. Other long-term debt is non-interest bearing and discounted based on estimated current cost of borrowings and, therefore, carrying values approximate market value. There have been no changes or transfers between category levels or classes. The following table presents estimated fair values and categorization levels of the Company’s financial instruments (in thousands): September 30, 2015 December 31, 2014 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 87,344 $ 87,344 $ 110,046 $ 110,046 Cash surrender values 2 NR 8,434 8,434 8,177 8,177 Liabilities Floating rate revolving Credit Facility, including Term Loan 2 NR 130,000 130,000 150,000 150,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 196,000 - - 6.75% Senior Notes Payable previously due 2019 (Note 5) 2 NR - - 253,372 257,500 Other long-term debt 2 NR 1,754 1,754 1,445 1,445 Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Class R: Measured at fair value on recurring basis, subsequent to initial recognition. Class NR: Measured at fair value on nonrecurring basis, subsequent to initial recognition.
Land Conservation Easement [Policy Text Block]	Land Conservation Easement -
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment In the second quarter 2014, the Company recorded accelerated depreciation on certain damaged BMS assets of $651,000 and removal of approximately 7,000 low demand NHMS seats of $1,131,000. Also in the second quarter 2014, the Company reflected a gain from involuntary conversion of certain TMS property, increasing property and equipment and other income, net by approximately $985,000.
Finance, Loans and Leases Receivable, Policy [Policy Text Block]	TMS Oil and Gas Mineral Rights Lease Receipts An initial lease agreement was extended and oil and gas extraction commenced in 2014, entitling TMS to stipulated stand-alone and shared royalties. The lessee expanded production capacity in 2014, including an increased number of extraction wells. At this time, while extraction activities continue, management is unable to determine possible ongoing volumes of production if any or for how long, or if stipulated natural gas price levels will be maintained or adequate. The lease agreement stipulates the sharing of production revenues, and requires TMS to spend a portion of shared royalties on TMS facility and road infrastructure improvements, up to specified amounts. Any future production revenues or royalties are subject to production levels and market prices that can fluctuate significantly and rapidly, as well as other factors outside of TMS’s control. As such, management is unable to determine the amounts if any, or timing, of possible future royalty payments to TMS. As of September 30, 2015 and December 31, 2014, there were no receivables (not since collected) or deferred income associated with the expired or extended agreements. Quicksilver Resources, Inc. (Quicksilver), the company with whom TMS and FWSA contracted for the exploration and extraction of natural gas, filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code on March 17, 2015. On April 15, 2015, the Bankruptcy Court entered a final order approving Quicksilver’s motion to continue operating in the ordinary course by honoring obligations under its oil and gas contracts (such as the contracts with TMS and the FWSA (the Contracts)) in Quicksilver’s business judgment. However, on October 6, 2015 the Bankruptcy Court entered an Order Establishing Bidding Procedure Relating to the Sale of all or a Portion of the Debtors' Assets (potentially including the Contracts). The proposed bid-deadline for the sale is November 30, 2015 and the proposed auction is expected to occur on December 9, 2015. Thereafter, the Bankruptcy Court would conduct a hearing for the approval of the proposed sale, which is scheduled to occur on December 14, 2015. As such, at this time, management is unable to determine if Quicksilver will continue to perform under the contracts for the foreseeable future.
Revenue Recognition, Deferred Revenue [Policy Text Block]	Deferred Income , Other Arrangements
Cash and Cash Equivalents, Policy [Policy Text Block]	Consolidated Statements of Cash Flows – At times, the Company collects and temporarily holds cash on behalf of its third-party food and beverage concessionaire which is not remitted until after period end and is presented separately from cash flows from operating activities on the Consolidated Statements of Cash Flows. There are no specific limitations, restrictions or other holding requirements for such cash.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards The FASB issued Accounting Standards Update No. 2014-12 "Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period” which requires performance targets that affect vesting and could be achieved after requisite service periods be treated as performance conditions and reflected in estimating grant-date fair values of awards. Compensation cost should be recognized in the periods when achieving performance targets becomes probable, and should represent the compensation cost attributable to periods for which requisite services have already been rendered. If achieving performance targets becomes probable before the end of the requisite service periods, any remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. Among other things, the guidance applies to entities that grant employees share-based payments in which award terms provide that performance targets that affect vesting could be achieved after the requisite service periods. The guidance is effective for annual periods and interim periods beginning after December 15, 2015. Earlier adoption is permitted. Entities may apply the guidance either (a) prospectively to all awards granted or modified after the effective date or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update No. 2015-03 "Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” which requires that debt issuance costs related to debt liabilities be presented in the balance sheet as a direct deduction from the associated carrying amount, similar to debt discounts. In August 2015, the FASB issued Update No. 2015-15 “Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements” which provides guidance on presentation and subsequent measurement of debt issuance costs associated with line-of-credit arrangements, and indicating the SEC staff would not object to entities deferring and presenting debt issuance costs as an asset and subsequently amortizing deferred debt issuance costs ratably over line-of-credit arrangement terms even if there are no outstanding borrowings. The guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update No. 2015-11 "Inventory (Topic 330): Simplifying the Measurement of Inventory” which requires measuring inventory at the lower of cost and net realizable value based on estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation (changed from the previous guidance of lower of cost or market). This update also clarified various other inventory measurement and disclosure requirements. The update does not apply to inventory measured using the LIFO or retail inventory methods. The guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and should be applied prospectively. Early application is permitted. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update No. 2015-16 "Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments” which requires acquirers in business combinations recognize adjustments to provisional amounts identified during measurement periods in the reporting periods in which adjusted amounts are determined. The update requires that acquirers record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, resulting from changes in provisional amounts, calculated as if the accounting had been completed at acquisition date. The update also requires separate income statement presentation or note disclosure of amounts recorded in current period earnings by line item that would have been recorded in previous reporting periods if the provisional amount adjustments had been recognized at acquisition date (requirements to retrospectively account for those adjustments have been eliminated). This update applies to all entities that reported provisional amounts in a business combination for which the accounting is incomplete by reporting period end, and in which the combination occurs and during the measurement period have an adjustment to provisional amounts recognized. Entities should disclose the nature and reason for changes in accounting principle in the first annual period of adoption, and in interim periods within the first annual period if there are measurement-period adjustments during the first annual period in which the changes are effective. The guidance is effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period. Amendments in this update should be applied prospectively to adjustments to provisional amounts that occur after its effective date, with earlier application permitted for financial statements that have not been issued. The Company plans to apply this guidance where applicable in any future business combinations.

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies and Other Disclosures (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	September 30, 2015 December 31, 2014 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 87,344 $ 87,344 $ 110,046 $ 110,046 Cash surrender values 2 NR 8,434 8,434 8,177 8,177 Liabilities Floating rate revolving Credit Facility, including Term Loan 2 NR 130,000 130,000 150,000 150,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 196,000 - - 6.75% Senior Notes Payable previously due 2019 (Note 5) 2 NR - - 253,372 257,500 Other long-term debt 2 NR 1,754 1,754 1,445 1,445

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2015 2014 Finished race cars, parts and accessories $ 5,290 $ 5,186 Souvenirs and apparel 2,795 2,472 Micro-lubricant ® 737 692 Total $ 8,822 $ 8,350

Note 4 - Goodwill and Other I21

Note 4 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Finite Lived and Indefinite Lived Intangible Assets [Table Text Block]	September 30, 2015 December 31, 2014 Gross Carrying Value Accumulated Amortization Net Gross Carrying Value Accumulated Amortization Net Estimated Amortization Period (Years) Nonamortizable race event sanctioning and renewal agreements $ 298,383 — $ 298,383 $ 394,913 — $ 394,913 — Amortizable race event sanctioning and renewal agreements 100 $ (89 ) 11 100 $ (72 ) 28 5-6 Total $ 298,483 $ (89 ) $ 298,394 $ 395,013 $ (72 ) $ 394,941
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Assets Goodwill Balance, beginning of period $ 395,013 $ 49,680 Increase from acquisitions - - Decrease from impairment charges (96,530 ) (2,338 ) Balance, end of period $ 298,483 $ 47,342

Note 5 - Long-term Debt (Tables

Note 5 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended Nine Months Ended September 30: September 30: 2015 2014 2015 2014 Gross interest costs $ 3,622 $ 5,478 $ 13,932 $ 16,692 Less: capitalized interest costs (64 ) (77 ) (200 ) (276 ) Interest expense 3,558 5,401 13,732 16,416 Interest income (47 ) (43 ) (371 ) (131 ) Interest expense, net $ 3,511 $ 5,358 $ 13,361 $ 16,285 Weighted-average interest rate on Credit Facility borrowings 1.8 % 2.0 % 1.9 % 2.1 %

Note 6 - Per Share and Other 23

Note 6 - Per Share and Other Equity Information (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30: September 30: 2015 2014 2015 2014 Income (loss) from continuing operations applicable to common stockholders and assumed conversions $ 8,553 $ 9,017 $ (28,070 ) $ 38,151 Weighted average common shares outstanding 41,267 41,372 41,306 41,396 Dilution effect of assumed conversions: Common stock equivalents—stock awards 21 16 30 20 Weighted average common shares outstanding and assumed conversions 41,288 41,388 41,336 41,416 Basic earnings (loss) per share $ 0.21 $ 0.22 $ (0.68 ) $ 0.92 Diluted earnings (loss) per share $ 0.21 $ 0.22 $ (0.68 ) $ 0.92 Anti-dilutive common stock equivalents excluded in computing diluted earnings (loss) per share 238 686 190 637
Dividends Declared [Table Text Block]	Declaration date February 11, 2015 April 15, 2015 July 15, 2015 October 14, 2015 Record date March 2, 2015 May 15, 2015 August 14, 2015 November 13, 2015 Paid or payable to shareholders March 13, 2015 June 5, 2015 September 4, 2015 December 4, 2015 Aggregate quarterly cash dividend $ 6,233 $ 6,198 $ 6,192 Approximately $6,200 Dividend per common share $ 0.15 $ 0.15 $ 0.15 $ 0.15

Note 7 - Related Party Transa24

Note 7 - Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Member]
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Three Months Ended September 30: Nine Months Ended September 30: 2015 2014 2015 2014 Merchandise and vehicle purchases $ 17 $ 10 $ 58 $ 405 Shared services expense, net of reimbursements 143 95 355 486 Merchandise and vehicle sales and event related commissions 782 723 2,339 2,179 Rent expense 181 164 518 497 Interest income - 17 - 54 Interest expense - 26 - 76
Related Party Balances [Member]
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	September 30, 2015 December 31, 2014 Notes and other receivables $ 269 $ 232

Note 9 - Stock Compensation P25

Note 9 - Stock Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nine Months Ended September 30: 2015 2014 Restricted Stock Restricted Stock Units Restricted Stock Restricted Stock Units Outstanding, beginning of period 64 64 59 59 Granted 35 100 35 35 Vested (29 ) (29 ) (27 ) (27 ) Forfeited (3 ) (3 ) (3 ) (3 ) Outstanding, end of period 67 132 64 64

Note 10 - Segment Disclosures (

Note 10 - Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2015
Other Intangibles and Good will [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	September 30, 2015 December 31, 2014 Other intangibles $ 298,394 – $ 298,394 $ 394,941 – $ 394,941 Goodwill 47,342 – 47,342 49,680 – 49,680 Total assets 1,525,756 $ 24,678 1,550,434 1,694,103 $ 24,164 1,718,267
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30: 2015 2014 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 136,748 $ 7,375 $ 144,123 $ 134,698 $ 5,139 $ 139,837 Depreciation and Amortization (Note 2) 20,259 45 20,304 13,493 47 13,540 Segment operating income 13,455 3,847 17,302 22,256 1,394 23,650 Nine Months Ended September 30: 2015 2014 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 392,295 $ 16,423 $ 408,718 $ 385,839 $ 14,417 $ 400,256 Depreciation and Amortization (Note 2) 46,885 129 47,014 42,307 144 42,451 Impairment of other intangible assets and goodwill (Note 4) 98,868 – 98,868 – – – Segment operating (loss) income (29,473 ) 5,065 (24,408 ) 75,183 2,577 77,760 Capital expenditures 20,367 39 20,406 19,597 50 19,647
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended Nine Months Ended September 30: September 30: 2015 2014 2015 2014 Total segment operating income (loss) $ 17,302 $ 23,650 $ (24,408 ) $ 77,760 Adjusted for: Interest expense, net (3,511 ) (5,358 ) (13,361 ) (16,285 ) Loss on early debt redemption and refinancing (Note 5) – – (8,372 ) – Other income (expense), net (749 ) 61 (408 ) 2,487 Consolidated income (loss) before income taxes $ 13,042 $ 18,353 $ (46,549 ) $ 63,962

Note 1 - Description of Busin27

Note 1 - Description of Business (Details Textual)	3 Months Ended	12 Months Ended
	Sep. 30, 2014USD ($)	Dec. 31, 2015	Dec. 31, 2014
Scenario, Forecast [Member] | NASCAR [Member] | Sprint Cup Series Events [Member]
Number of Events Planned		13
Scenario, Forecast [Member] | NASCAR [Member] | Xfinity Series Events [Member]
Number of Events Planned		11
Scenario, Forecast [Member] | NASCAR [Member] | Camping World Trucks Series Events [Member]
Number of Events Planned		8
Scenario, Forecast [Member] | NASCAR [Member] | K and N Pro Series Events [Member]
Number of Events Planned		3
Scenario, Forecast [Member] | NASCAR [Member] | Whelen Modified Tour [Member]
Number of Events Planned		4
Scenario, Forecast [Member] | NASCAR [Member]
Number of Events Planned		24
Scenario, Forecast [Member] | Indy Car Series [Member]
Number of Events Planned		2
Scenario, Forecast [Member] | National Hot Rod Association [Member]
Number of Events Planned		6
Scenario, Forecast [Member] | Automobile Racing Club of America [Member]
Number of Events Planned		1
Scenario, Forecast [Member] | World of Outlaws [Member]
Number of Events Planned		3
NASCAR [Member] | Sprint Cup Series Events [Member]
Number of Racing Events			13
NASCAR [Member] | Xfinity Series Events [Member]
Number of Racing Events			11
NASCAR [Member] | Camping World Trucks Series Events [Member]
Number of Racing Events			7
NASCAR [Member] | K and N Pro Series Events [Member]
Number of Racing Events			3
NASCAR [Member] | Whelen Modified Tour [Member]
Number of Racing Events			4
NASCAR [Member]
Number of Racing Events			24
Indy Car Series [Member]
Number of Racing Events			2
National Hot Rod Association [Member]
Number of Racing Events			6
Automobile Racing Club of America [Member]
Number of Racing Events			1
World of Outlaws [Member]
Number of Racing Events			3
Reserved Receivables Recovery	$ 6

Note 2 - Significant Accounti28

Note 2 - Significant Accounting Policies and Other Disclosures (Details Textual) - USD ($)	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2014	Jan. 31, 2014
Recovery Settlement [Member]
Income Tax Expense (Benefit)					$ 2,500,000
Motorsports Authentics [Member]
Equity Method Investment, Ownership Percentage								50.00%
Equity Method Investments								$ 0
BMS Scoreboard [Member]
Property, Plant and Equipment, Disposals	$ 7,011,000
Payments for Removal Costs	458,000
Bristol Motor Speedway LLC [Member]
Depreciation			$ 651,000
NHMS [Member]
Depreciation			1,131,000
Texas Motor Speedway Inc. [Member]
Gain (Loss) on Disposition of Property Plant Equipment			$ 985,000
Deferred Revenue, Leases, Net	0			$ 0			$ 0
Deferred Other Tax Expense (Benefit)	$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Derecognized		$ 483,000			$ 483,000
Effective Income Tax Rate Reconciliation, Percent	34.40%	50.90%		39.70%	40.40%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount				$ 610,000
Continuing Effective Income Tax Rate of Continuing Operations, Difference	2.00%			2.00%
Income Tax Expense (Benefit)	$ 4,489,000	$ 9,336,000		$ (18,487,000)	$ 25,811,000	$ (49,300,000)
Income Tax Examination, Increase (Decrease) in Liability from Prior Year		397,000			397,000
Unrecognized Tax Benefits	885,000			885,000			885,000
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	386,000			386,000			386,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	8,000			22,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	350,000			350,000			$ 328,000
Increase (Decrease) in Income Taxes Payable				(21,600,000)	(31,500,000)
Excise and Sales Taxes	1,591,000	1,819,000		4,582,000	4,157,000
Advertising Expense	7,537,000	5,381,000		13,077,000	13,735,000
Proceeds from Royalties Received	$ 1,202,000	$ 1,099,000		$ 3,337,000	$ 1,499,000

Note 2 - Estimated Fair Values

Note 2 - Estimated Fair Values and Categorization Levels of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member]
Assets
Cash and cash equivalents	$ 87,344	$ 110,046
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member]
Assets
Cash and cash equivalents	87,344	$ 110,046
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Senior Notes Due 2023 [Member]
Liabilities
5.125% Senior Notes Payable due 2023	200,000
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member]
Assets
Cash surrender values	8,434	$ 8,177
Liabilities
Floating rate revolving Credit Facility, including Term Loan	130,000	150,000
Other long-term debt	1,754	1,445
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Senior Notes Due 2023 [Member]
Liabilities
5.125% Senior Notes Payable due 2023	196,000
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member]
Assets
Cash surrender values	8,434	8,177
Liabilities
Floating rate revolving Credit Facility, including Term Loan	130,000	150,000
Other long-term debt	1,754	1,445
Cash and cash equivalents	$ 87,344	$ 110,046

Note 3 - Inventories Components

Note 3 - Inventories Components (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Finished Vehicles Parts and Accessories [Member]
Inventory	$ 5,290	$ 5,186
Souvenirs and Apparel [Member]
Inventory	2,795	2,472
Micro Lubricant and Other [Member]
Inventory	737	692
Inventory	$ 8,822	$ 8,350

Note 4 - Goodwill and Other I31

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2015	Sep. 30, 2015
Unrecognized [Member]
Goodwill, Impairment Loss		$ 0
Goodwill, Impairment Loss	$ 2,338,000	2,338,000
Impairment of Intangible Assets (Excluding Goodwill)	96,530,000	96,530,000
Impairment of Intangible Assets Income Tax Expense Benefit	37,502,000
Impairment of Goodwill Income Tax Expense Benefit	908,000
Goodwill, Fair Value Disclosure	$ 0
Goodwill, Impaired, Accumulated Impairment Loss		148,600,000
Accumulated Impairments		$ 99,800,000

Note 4 - Gross Carrying Values

Note 4 - Gross Carrying Values and Accumulated Amortization by Class of Intangible Asset (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Nonamortizable Race Event Sanctioning and Renewal Agreements [Member]
Nonamortizable race event sanctioning and renewal agreements	$ 298,383	$ 394,913
Maximum [Member] | Amortizable Race Event Sanctioning and Renewal Agreements [Member]
Amortizable race event sanctioning and renewal agreements	6 years
Minimum [Member] | Amortizable Race Event Sanctioning and Renewal Agreements [Member]
Amortizable race event sanctioning and renewal agreements	5 years
Amortizable Race Event Sanctioning and Renewal Agreements [Member]
Amortizable race event sanctioning and renewal agreements	$ 100	100
Amortizable race event sanctioning and renewal agreements	(89)	(72)
Amortizable race event sanctioning and renewal agreements	11	28
Amortizable race event sanctioning and renewal agreements	(89)	(72)
Total	298,483	395,013
Total	$ 298,394	$ 394,941

Note 4 - Changes in Gross Carry

Note 4 - Changes in Gross Carrying Value of Other Intangible Assets and Goodwill (Details)	9 Months Ended
	Sep. 30, 2015USD ($)
Balance, beginning of period	$ 395,013,000
Balance, beginning of period	49,680,000
Decrease from impairment charges	(96,530,000)
Decrease from impairment charges	(2,338,000)
Balance, end of period	298,483,000
Balance, end of period	$ 47,342,000

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual)	Mar. 13, 2015USD ($)	Jan. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Revolving Credit Facility [Member] | The 2014 Amendment of Bank Credit Facility [Member]
Debt Instrument, Term			5 years
Line of Credit Facility, Maximum Borrowing Capacity			$ 100,000,000
Line of Credit Facility, Remaining Borrowing Capacity				$ 99,155,000			$ 99,155,000	$ 99,155,000
Revolving Credit Facility [Member]
Letters of Credit Outstanding, Amount			1,152,000	845,000			845,000	845,000
Standby Letters of Credit [Member] | The 2014 Amendment of Bank Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			50,000,000
Swing Line Loans [Member] | The 2014 Amendment of Bank Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 10,000,000
Senior Secured Term Loan [Member] | The 2014 Amendment of Bank Credit Facility [Member]
Debt Instrument, Term			5 years
Debt Instrument, Face Amount			$ 150,000,000
Delayed Draw Term Loan [Member] | The 2014 Amendment of Bank Credit Facility [Member]
Debt Instrument, Term			5 years
Line of Credit Facility, Maximum Borrowing Capacity			$ 50,000,000
Letter of Credit [Member] | The 2014 Amendment of Bank Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity				49,155,000			49,155,000	49,155,000
The 2014 Amendment of Bank Credit Facility [Member] | Subject to Maintaining Certain Financial Covenants [Member]
Debt Instrument Covenant, Maximum Dividends Payments and Repurchases of Securities			$ 75,000,000
The 2014 Amendment of Bank Credit Facility [Member] | Term Loan [Member]
Debt Instrument Quarterly Principal Repayment Percentage			5.00%
Debt Instrument, Periodic Payment, Principal			$ 10,000,000
Proceeds from Lines of Credit			200,000,000
Proceeds from Issuance of Long-term Debt					$ 50,000,000
Repayments of Debt				18,125,000		$ 20,000,000		70,000,000	$ 60,000,000
Long-term Debt			150,000,000	130,000,000			130,000,000	$ 130,000,000
The 2014 Amendment of Bank Credit Facility [Member] | Minimum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage								0.25%
The 2014 Amendment of Bank Credit Facility [Member] | Maximum [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage								0.40%
The 2014 Amendment of Bank Credit Facility [Member]
Revolving Credit Facility Accordion Feature			100,000,000
Term Loan, Maximum Borrowing Capacity			200,000,000
Debt Agreement, Maximum Borrowing Capacity			250,000,000
Debt Instrument Covenant, Maximum Dividends Payments and Repurchases of Securities			50,000,000
Debt Instrument Covenant Annual Capital Expenditures			75,000,000
The 2023 Senior Notes [Member] | Beginning February 1, 2018 [Member]
Debt Instrument, Redemption Price, Percentage		103.844%
The 2023 Senior Notes [Member] | Before February 1, 2018 [Member]
Debt Instrument, Redemption Price, Percentage		105.125%
Debt Instrument Redeemable Percent		35.00%
The 2023 Senior Notes [Member] | Scenario, Forecast [Member]
Debt Instrument, Redemption Price, Percentage		101.00%
The 2023 Senior Notes [Member]
Debt Instrument, Face Amount		$ 200,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.125%
Proceeds from Notes Payable		$ 196,816,000
Debt Instrument, Covenant Dividend Payments, Per Share | $ / shares		$ 0.80
The 2019 Senior Notes [Member]
Debt Instrument, Face Amount	$ 250,000,000
Debt Instrument, Interest Rate, Stated Percentage	6.75%
Debt Instrument, Redemption Price, Percentage	103.375%
Debt Instrument, Unamortized Premium			3,372,000		3,200,000
Debt Redemption Premium					8,372,000
Income Taxes Paid, Net					3,106,000
Unamortized Net Deferred Loan Costs					3,134,000
Interest Expense, Debt					$ 1,688,000
Other Notes Payable [Member]
Long-term Debt			1,445,000	371,000			371,000	$ 371,000
Debt Instrument, Number of Periodic Payments								60
Debt Instrument, Periodic Payment								$ 125,000
Debt Instrument, Unamortized Discount			$ 55,000	$ 4,000			$ 4,000	$ 4,000
Debt Instrument, Interest Rate, Effective Percentage				7.00%			7.00%	7.00%
Interest Bearing Debt Associated With BMS Purchase [Member]
Debt Instrument, Number of Periodic Payments							8
Debt Instrument, Periodic Payment							$ 194,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate				3.00%			3.00%	3.00%
Long-term Debt, Percentage Bearing Fixed Interest, Amount				$ 1,383,000			$ 1,383,000	$ 1,383,000
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000,000
Minimum [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate								1.25%
Minimum [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate								0.25%
Maximum [Member] | Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate								2.00%
Maximum [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate								1.00%
Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate								1.00%
Federal Funds Effective Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate								0.50%
Proceeds from Issuance of Long-term Debt								$ 251,383,000

Note 5 - Interest Expense, Net

Note 5 - Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gross interest costs	$ 3,622	$ 5,478	$ 13,932	$ 16,692
Less: capitalized interest costs	(64)	(77)	(200)	(276)
Interest expense	3,558	5,401	13,732	16,416
Interest income	(47)	(43)	(371)	(131)
Interest expense, net	$ 3,511	$ 5,358	$ 13,361	$ 16,285
Weighted-average interest rate on Credit Facility borrowings	1.80%	2.00%	1.90%	2.10%

Note 6 - Per Share and Other 36

Note 6 - Per Share and Other Equity Information (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015
Repurchase #1 [Member]
Treasury Stock, Shares, Acquired		188,000
Treasury Stock, Value, Acquired, Cost Method		$ 4,154,000
Repurchase #2 [Member] | Management [Member]
Treasury Stock, Shares, Acquired		28,000
Treasury Stock, Value, Acquired, Cost Method		$ 643,000
Management [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		60,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		(29,000)	(27,000)
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				5,000,000
Treasury Stock, Shares, Acquired	64,000
Treasury Stock, Value, Acquired, Cost Method	$ 1,322,000	$ 4,796,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	758,000	758,000
Treasury Stock, Number of Shares Held	190,000	190,000

Note 6 - Basic and Diluted Earn

Note 6 - Basic and Diluted Earnings or Loss Per Share from Continuing Operations (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income (loss) from continuing operations applicable to common stockholders and assumed conversions	$ 8,553	$ 9,017	$ (28,070)	$ 38,151
Weighted average common shares outstanding (in shares)	41,267	41,372	41,306	41,396
Dilution effect of assumed conversions:
Common stock equivalents—stock awards (in shares)	21	16	30	20
Weighted average common shares outstanding and assumed conversions (in shares)	41,288	41,388	41,336	41,416
Basic earnings (loss) per share (in dollars per share)	$ 0.21	$ 0.22	$ (0.68)	$ 0.92
Diluted earnings (loss) per share (in dollars per share)	$ 0.21	$ 0.22	$ (0.68)	$ 0.92
Anti-dilutive common stock equivalents excluded in computing diluted earnings (loss) per share (in shares)	238	686	190	637

Note 6 - Declaration of Cash Di

Note 6 - Declaration of Cash Dividends (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Declaration date	Oct. 14, 2015	Jul. 15, 2015	Apr. 15, 2015	Feb. 11, 2015
Record date	Nov. 13, 2015	Aug. 14, 2015	May 15, 2015	Mar. 2, 2015
Paid or payable to shareholders	Dec. 4, 2015	Sep. 4, 2015	Jun. 5, 2015	Mar. 13, 2015
Aggregate quarterly cash dividend	$ 6,200	$ 6,192	$ 6,198	$ 6,233
Dividend per common share (in dollars per share)	$ 0.15	$ 0.15	$ 0.15	$ 0.15

Note 7 - Related Party Transa39

Note 7 - Related Party Transactions (Details Textual)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Sonic Automotive Inc. [Member] | SMI Properties [Member]
Revenue from Related Parties		$ 221,000	$ 141,000	$ 688,000	$ 474,000
Sonic Automotive Inc. [Member] | Oil Chem [Member]
Revenue from Related Parties		561,000	$ 582,000	1,651,000	$ 1,645,000
Due from Affiliates		$ 177,000		$ 177,000
Due from Related Parties						$ 143,000
Sonic Automotive Inc. [Member]
Number of Vehicles Sold		0	0	0	0
Related Party Transaction, Purchases from Related Party		$ 17,000	$ 10,000	$ 58,000	$ 171,000
Due from Affiliates		92,000		92,000		89,000
Sonic Financial [Member]
Notes Receivable, Related Parties		0		0		0
Increase (Decrease) in Notes Receivable, Related Parties			104,000		508,000
Related Party Transaction, Expenses from Transactions with Related Party		143,000		355,000
Affiliated Entity [Member]
Operating Leases, Rent Expense		181,000	164,000	518,000	497,000
Motorsports Authentics [Member]
Related Party Transaction, Purchases from Related Party	$ 234,000
Revenue from Related Parties	$ 60,000
Notes Receivable, Related Parties		269,000		269,000		$ 232,000
Related Party Transaction, Expenses from Transactions with Related Party		143,000	95,000	355,000	486,000
Related Party Transaction, Purchases from Related Party		17,000	10,000	58,000	405,000
Revenue from Related Parties		$ 782,000	$ 723,000	$ 2,339,000	$ 2,179,000

Note 7 - Foregoing Related Part

Note 7 - Foregoing Related Party Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Notes Receivable, Related Parties	$ 269	$ 232

Note 7 - Related Party Transa41

Note 7 - Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Merchandise and vehicle purchases	$ 17	$ 10	$ 58	$ 405
Shared services expense, net of reimbursements	143	95	355	486
Revenue from Related Parties	782	723	2,339	2,179
Rent expense	$ 181	164	$ 518	497
Interest income		17		54
Interest expense		$ 26		$ 76

Note 9 - Stock Compensation P42

Note 9 - Stock Compensation Plans (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	Apr. 30, 2015	Apr. 30, 2014	Apr. 30, 2013	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
The 2004 Stock Incentive Plan [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price						$ 15.83	$ 15.83
The 2013 Stock Incentive Plan [Member] | Restricted Stock [Member] | Chief Executive Officer and President [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period						35,000	35,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						5 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized						65,000
The 2013 Stock Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						3 years
The 2013 Stock Incentive Plan [Member] | Management [Member]
Stock Repurchased During Period, Shares						28,000	26,000
Stock Repurchased During Period, Value						$ 630,000	$ 523,000
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings						58,000	54,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares						1,500
The 2013 Stock Incentive Plan [Member] | Non Executive Management Employees [Member]
Stock Repurchased During Period, Shares						500
Stock Repurchased During Period, Value						$ 13,000
The 2008 Formula Restricted Stock Plan [Member] | Restricted Stock [Member] | Non Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	3,204	16,112	16,668
Stock Incentive Plan 2004 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						46,250	3,000
Restricted Stock [Member] | Non Executive Management Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period							3 years
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period							4,500
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period						35,000	35,000
Restricted Stock and Restricted Stock Units [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options				$ 3,775,000		$ 3,775,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						1 year 109 days
General and Administrative Expense [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense				323,000	$ 255,000	$ 938,000	$ 726,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0	0
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount						$ 0	$ 0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options				0		0		$ 0
Allocated Share-based Compensation Expense				$ 869,000	$ 682,000	2,520,000	$ 1,990,000
Share-based Compensation Arrangement by Share-based Payment Award, Decrease in Additioal Paid in Capital						1,537,000
Share-based Compensation Arrangement by Share-based Payment Award, Decrease in Deferred Tax Assets						1,874,000
Share-based Compensation Arrangement by Share-based Payment Award, Increase in Income Tax Expense						$ 337,000

Note 9 - Summary of Non-vested

Note 9 - Summary of Non-vested Restricted Stock and Restricted Stock (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Restricted Stock [Member]
Outstanding, beginning of period (in shares)	64	59
Granted (in shares)	35	35
Vested (in shares)	(29)	(27)
Forfeited (in shares)	(3)	(3)
Outstanding, end of period (in shares)	67	64
Restricted Stock Units (RSUs) [Member]
Outstanding, beginning of period (in shares)	64	59
Granted (in shares)	100	35
Vested (in shares)	(29)	(27)
Forfeited (in shares)	(3)	(3)
Outstanding, end of period (in shares)	132	64

Note 10 - Segment Information o

Note 10 - Segment Information on Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Motorsports Event Segment [Member]
Revenues	$ 136,748	$ 134,698	$ 392,295	$ 385,839
Depreciation and Amortization (Note 2)	20,259	13,493	46,885	42,307
Segment operating income	13,455	22,256	(29,473)	$ 75,183
Impairment of other intangible assets and goodwill (Note 4)			98,868
Capital expenditures			20,367	$ 19,597
Other Segments [Member]
Revenues	7,375	5,139	16,423	14,417
Depreciation and Amortization (Note 2)	45	47	129	144
Segment operating income	3,847	1,394	$ 5,065	$ 2,577
Impairment of other intangible assets and goodwill (Note 4)
Capital expenditures			$ 39	$ 50
Revenues	144,123	139,837	408,718	400,256
Depreciation and Amortization (Note 2)	20,304	13,540	47,014	42,451
Segment operating income	$ 17,302	$ 23,650	(24,408)	$ 77,760
Impairment of other intangible assets and goodwill (Note 4)			98,868
Capital expenditures			$ 20,406	$ 19,647

Note 10 - Summary of Intangible

Note 10 - Summary of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Motorsports Event Segment [Member]
Other intangibles	$ 298,394	$ 394,941
Goodwill	47,342	49,680
Total assets	$ 1,525,756	$ 1,694,103
Other Segments [Member]
Other intangibles
Goodwill
Total assets	$ 24,678	$ 24,164
Other intangibles	298,394	394,941
Goodwill	47,342	49,680
Total assets	$ 1,550,434	$ 1,718,267

Note 10 - Reconciliation of Seg

Note 10 - Reconciliation of Segment Operating Income or Loss to Consolidated Amounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Total segment operating income (loss)	$ 17,302	$ 23,650	$ (24,408)	$ 77,760
Adjusted for:
Interest expense, net	$ (3,511)	$ (5,358)	(13,361)	$ (16,285)
Loss on early debt redemption and refinancing (Note 5)			(8,372)
Other income (expense), net	$ (749)	$ 61	(408)	$ 2,487
Consolidated income (loss) before income taxes	$ 13,042	$ 18,353	$ (46,549)	$ 63,962