Speedway Motorsports (TRK) 10-Q 28 Oct 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 28, 2016
Document Information [Line Items]
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)		41,078,547
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 82,308	$ 82,010
Accounts receivable, net	38,899	39,783
Prepaid and refundable income taxes	6,983	8,520
Inventories, net	8,414	8,711
Prepaid expenses	2,346	3,862
Total Current Assets	138,950	142,886
Notes Receivable	1,184	1,303
Other Assets	28,709	29,622
Property and Equipment, Net	1,012,230	1,019,650
Other intangibles	298,386	298,394
Goodwill	47,342	47,342
Total	1,526,801	1,539,197
Current Liabilities:
Current maturities of long-term debt	7,657	7,677
Accounts payable	34,517	12,112
Deferred race event and other income, net	36,567	57,549
Accrued interest	1,739	4,291
Accrued expenses and other current liabilities	29,730	26,740
Total Current Liabilities	110,210	108,369
Long-term Debt	261,549	313,706
Deferred Income, Net	3,905	4,581
Deferred Income Taxes, Net	328,417	321,046
Other Liabilities	18,275	6,655
Total Liabilities	722,356	754,357
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 – 41,096,000 in 2016 and 41,235,000 in 2015	458	458
Additional Paid-in Capital	258,261	255,294
Retained Earnings	649,790	629,115
Treasury Stock at cost, shares – 4,741,000 in 2016 and 4,520,000 in 2015	(104,064)	(100,027)
Total Stockholders’ Equity	804,445	784,840
Total	$ 1,526,801	$ 1,539,197

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
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)	41,096,000	41,235,000
Common Stock, shares outstanding (in shares)	41,096,000	41,235,000
Treasury Stock at cost, shares (in shares)	4,741,000	4,520,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Admissions	$ 29,698,000	$ 31,607,000	$ 74,771,000	$ 82,263,000
Event related revenue	37,226,000	40,717,000	108,295,000	115,966,000
NASCAR broadcasting revenue	65,839,000	63,855,000	192,453,000	186,653,000
Other operating revenue (Note 2)	37,898,000	7,944,000	54,006,000	23,836,000
Total Revenues	170,661,000	144,123,000	429,525,000	408,718,000
Direct expense of events	36,576,000	35,251,000	84,366,000	84,719,000
NASCAR event management fees	41,087,000	39,758,000	115,863,000	112,381,000
Other direct operating expense (Note 2)	28,996,000	4,796,000	39,540,000	14,888,000
General and administrative	27,205,000	26,712,000	78,591,000	75,256,000
Depreciation and amortization	14,017,000	20,304,000	40,958,000	47,014,000
Interest expense, net	3,290,000	3,511,000	9,920,000	13,361,000
Other (income) expense, net	(941,000)	749,000	(886,000)	416,000
Total Expenses and Other	150,229,000	131,081,000	368,351,000	455,275,000
Income Before Income Taxes	20,432,000	13,042,000	61,174,000	(46,557,000)
Provision for Income Taxes	(6,766,000)	(4,489,000)	(21,900,000)	15,532,000
Net Income	$ 13,666,000	$ 8,553,000	$ 39,274,000	$ (31,025,000)
Basic Earnings Per Share (Note 6) (in dollars per share)	$ 0.33	$ 0.21	$ 0.95	$ (0.75)
Weighted Average Shares Outstanding (in shares)	41,123	41,267	41,178	41,306
Diluted Earnings Per Share (Note 6) (in dollars per share)	$ 0.33	$ 0.21	$ 0.95	$ (0.75)
Weighted Average Shares Outstanding (in shares)	41,135	41,288	41,191	41,336
Impairment of other intangible assets and goodwill (Note 4)				$ 98,868,000
Loss on early debt redemption and refinancing (Note 5)				$ 8,372,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2016 - 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, 2015	41,235
Balance at Dec. 31, 2015	$ 458	$ 255,294	$ 629,115	$ (100,027)	$ 784,840
Net Income (Loss) Attributable to Parent			39,274		39,274
Share-based compensation, and windfall tax benefits adjustment (Note 2) (in shares)	81
Share-based compensation, and windfall tax benefits adjustment (Note 2)		2,967			2,967
Quarterly cash dividends of $0.15 per share of common stock			(18,599)		(18,599)
Repurchases of common stock (in shares)	(220)
Repurchases of common stock				(4,037)	(4,037)
Balance (in shares) at Sep. 30, 2016	41,096
Balance at Sep. 30, 2016	$ 458	$ 258,261	$ 649,790	$ (104,064)	$ 804,445

Consolidated Statement of Stoc6

Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2016$ / 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, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net income (loss)	$ 39,274	$ (31,025)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Impairment of other intangible assets and goodwill		98,868
Deferred loan cost amortization	1,130	1,287
(Gains) losses on disposals of property and equipment and insurance recovery	(1,339)	209
Interest expense accretion of debt discount and premium, net		(121)
Depreciation and amortization	40,957	47,014
Amortization of deferred income	(732)	(1,803)
Deferred income tax provision	21,899	(17,150)
Share-based compensation	2,560	2,520
Changes in operating assets and liabilities:
Accounts receivable	2,924	(4,113)
Prepaid, refundable and accrued income taxes	(1,240)	293
Inventories	297	(472)
Prepaid expenses	1,516	1,094
Accounts payable	21,437	5,776
Deferred race event and other income	(21,016)	(11,326)
Accrued interest	(2,552)	(5,336)
Accrued expenses and other liabilities	2,990	6,494
Deferred income	90	889
Other assets and liabilities	(283)	(13)
Net Cash Provided By Operating Activities	107,912	93,085
Cash Flows from Financing Activities:
Borrowings under long-term debt		251,383
Principal payments on long-term debt	(52,177)	(321,125)
Payment of debt refinancing costs		(3,970)
Dividend payments on common stock	(18,599)	(18,623)
Exercise of common stock options		732
Repurchases of common stock	(4,037)	(4,796)
Net Cash Used By Financing Activities	(74,813)	(96,399)
Cash Flows from Investing Activities:
Payments for capital expenditures	(33,440)	(20,406)
Proceeds from sales of property and equipment and insurance recovery	520	519
Repayment of notes and other receivables	119	499
Net Cash Used By Investing Activities	(32,801)	(19,388)
Net Increase (Decrease) in Cash and Cash Equivalents	298	(22,702)
Cash and Cash Equivalents at Beginning of Period	82,010	110,046
Cash and Cash Equivalents at End of Period	82,308	87,344
Cash paid for interest, net of amounts capitalized	12,620	19,068
Increase in accounts payable for capital expenditures	$ 1,065	$ 98

Note 1 - Description of Busines

Note 1 - Description of Business	9 Months Ended
	Sep. 30, 2016
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 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 our 2015 Annual Report on Form 10-K (2015 Annual Report) for further description of our business operations, properties and scheduled events. 2015 Revision of Financial Statements Racing Events (Note 2) – In 2016 , we plan to hold 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 2015, we held 24 major annual racing events sanctioned by NASCAR, including 13 Sprint Cup and 11 Xfinity Series racing events. We also held eight 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 events.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies and Other Disclosures	9 Months Ended
	Sep. 30, 2016
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 our consolidated financial statements included in our 2015 Annual Report. In management's opinion, these unaudited consolidated financial statements contain all adjustments necessary for their fair statement 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 2015 Annual Report for further discussion of significant accounting policies. Quarterly Reporting and Certain Schedule Changes The Battle at Bristol. Racing Schedule Changes . The more significant racing schedule changes for the three and nine months ended September 30, 2016 as compared to 2015 include: • Poor weather resulted in delaying the start of the NASCAR Sprint Cup race held at LVMS in the first quarter 2016 • Poor weather resulted in cancellation of a portion of the major NHRA weekend racing event held at CMS in the second quarter 2016 • Poor weather resulted in delays in starting and completing the NASCAR Sprint Cup race at TMS and Sprint All-Star race at CMS, and next day rescheduling of one NASCAR Camping World Truck Series race at CMS, in the second quarter 2016 • Poor weather resulted in delays in starting and completing one IndyCar race at TMS, which was rescheduled from the second quarter 2016 to the third quarter 2016 as further discussed below • Poor weather resulted in postponing and rescheduling one NASCAR Sprint Cup race held at BMS in the third quarter 2016 • TMS held one Red Bull Air Race in the third quarter 2015 that was not held in 2016 An IndyCar race scheduled at TMS in the second quarter 2016 was postponed due to poor weather, rescheduled for the next day and started and stopped due to poor weather, and rescheduled again and held in the third quarter 2016. Previous advance sales for tickets, sponsorships, and certain other event related revenues, race purse and sanction fees, sales and admission taxes, credit card processing fees and sales commissions on advance revenues were deferred as of June 30, 2016, and were recognized when the rescheduled race was held in the third quarter 2016. Previous event souvenir merchandise sales and commissions from food and beverage sales, and advertising, outside support, event labor and other costs expected to be re-incurred were recognized in the second quarter 2016 and were not deferred at September 30, 2016. New event revenues and expenses were recognized when the rescheduled race was held in accordance with the Company’s customary accounting policies. The Company has offered to honor previously sold tickets at the rescheduled race or exchange for race tickets to TMS’s upcoming NASCAR Sprint Cup races in November 2016 and April 2017 or IndyCar race in June 2017. The exchange offer expires in June 2017, and cash refunds were not offered. We are presently unable to determine the ultimate number of tickets or which race events or future reporting periods that may be affected by ticket exchanges or redemption. As of September 30, 2016, we have deferred race event income of $538,000 for unredeemed tickets associated with TMS’s 2016 IndyCar race. However, management believes the matter will not materially affect our future financial condition, results of operations or cash flows. Income Taxes the Consolidated Financial Statements in our 2015 Annual Report for additional information on our accounting for income taxes. The effective income tax rate for the three and nine months ended September 30, 2016 was 33.1% and 35.8%, and for the three and nine months ended September 30, 2015 was 34.4% and 33.4%. Our 2016 and 2015 effective tax rates reflect non-recurring tax benefits of $507,000 and $610,000 resulting from certain state income tax law changes. The tax rate for the nine months ended September 30, 2015 also reflects adjustments associated with second quarter 2015 intangible asset and goodwill impairment charges and certain deferred tax assets. The Company paid cash of $650,000 and $599,000 for income taxes in the nine months ended September 30, 2016 and 2015. We believe our year-end taxable income position will ultimately benefit from additional paid-in capital (APIC) net operating losses accumulated in 2015 and 2014 that relate to share-based compensation (See Note 9). As such, our 2016 consolidated financial statements reflect reduced income taxes payable, and increased additional paid-in capital, of $407,000 for windfall tax benefits associated with share-based compensation. Accounting for Uncertainty in Income Taxes As of September 30, 2016 and December 31, 2015, management believes $239,000 of unrecognized tax benefits will be recognized within the next twelve months. During the three and nine months ended September 30, 2016 and 2015, we recognized interest and penalties of $4,000 and $11,000, and $8,000 and $22,000, respectively, associated with unrecognized tax benefits. As of September 30, 2016 and December 31, 2015, the Company had $180,000 and $169,000 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 2015 by the California Franchise Tax Board, 2012 through 2015 by the Internal Revenue Service, and 2012 through 2015 by all other state taxing jurisdictions to which the Company is subject. The Company’s 2014 federal income tax return is under examination by the Internal Revenue Service, which began in July 2016. Anticipated Income Tax Benefit From Equity Interest Abandonment On January 31, 2014, the Company abandoned its interest and rights in Motorsports Authentics (former 50% owned, non-controlling interest, merchandising equity investment joint venture) (MA) to focus management resources in areas that may be profitable and more productive. The Company’s carrying value of the investment was reduced to $0 through sizable impairment charges prior to 2010 and MA’s historical operating results. The Company recognized no concurrent tax benefits as valuation allowances were provided against associated deferred tax assets. As a result of abandonment, the Company recognized a material income tax benefit of $48.1 million at December 31, 2013 for the reversal of previously recorded valuation allowances under applicable accounting guidance, and recognized tax losses reported on its 2014 income tax returns. Management believes there is or will be sufficient taxable income in carryback or carryforward periods under tax law for full utilization of these tax losses. The Company has reduced income taxes payable by approximately $36.0 million and $16.6 million through September 30, 2016 and December 31, 2015, through utilization of deferred income tax assets, including net operating losses, related to the 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. The Company believes it will fully utilize the associated tax losses. Should the Company’s tax position not be fully sustained if examined, an acceleration of material cash income taxes 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. Other Income Tax Benefits Property and Equipment TMS Mineral Rights Lease Receipts – , 337,000 in the nine months ended September 30, 2016 and 2015 under the lease agreement. An initial lease agreement was extended and natural 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. Such revenues have declined recently from associated market declines and volatility in natural gas price levels. 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 further decline, remain steady 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, 2016 and December 31, 2015, there were no receivables (not since collected) or deferred income associated with the expired or extended agreements. Taxes Collected from Customers – We report 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, 2016 and 2015 were $3,610,000 and $1,591,000, and for the nine months ended September 30, 2016 and 2015 were $6,427,000 and $4,582,000. Advertising Expenses Fair Value of Financial Instruments September 30, 2016 December 31, 2015 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 82,308 $ 82,308 $ 82,010 $ 82,010 Cash surrender values 2 NR 8,808 8,808 8,551 8,551 Liabilities Floating rate revolving Credit Facility, including Term Loan 2 NR 68,000 68,000 120,000 120,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 206,100 200,000 199,000 Other long-term debt 2 NR 1,206 1,206 1,383 1,383 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. Recently Issued Accounting Standards – The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 "Revenue from Contracts with Customers (Topic 606): Section A - Summary and Amendments That Create Revenue from Contracts with Customers and Other Assets and Deferred Costs - Contracts with Customers (Subtopic 340-40)” which enhances comparability and clarifies principles of revenue recognition. The guidance includes the core principle that entities recognize revenue to depict transfers of promised goods or services to customers in amounts that reflect the consideration entities expect to be entitled in exchange for those goods or services. In August 2015, the FASB issued Update No. 2015-14 approving deferral of Update No. 2014-09 for one year, with such guidance now effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting 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. 2015-03 "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 has chosen to continue deferring and presenting debt issuance costs as an asset and amortize deferred debt issuance costs ratably over line-of-credit arrangement terms. As such, adoption had no impact 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. 2016-02 “Leases (Subtopic 842)” which requires lessees to recognize assets and liabilities arising from leases as well as extensive quantitative and qualitative disclosures. Lessees will need to recognize on their balance sheets right-of-use assets and lease liabilities for the majority of their leases (other than leases meeting the definition of a short-term lease). Right-of-use assets will be measured at lease liability amounts, adjusted for lease prepayments, lease incentives received and lessee’s initial direct costs. Lease liabilities will equal the present value of lease payments. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The guidance is required to be applied using the modified retrospective approach for all leases existing as of the effective date, and provides for certain practical expedients. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” which changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as the classification of related matters in the statement of cash flows. The guidance is effective for the Company in the first quarter of 2017. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update 2016-15 “Statement of Cash Flows (Topic 23) - Classification of Certain Cash Receipts and Cash Payments” which provides specific guidance on eight cash flow classification issues. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, and should be applied using a retrospective transition method to each period presented. Early adoption is permitted, and any amendments must be adopted in the same period. The Company is currently evaluating the potential impact that adoption may have on its financial statements.

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. INVENTORIES Inventories, net consist of the following components (in thousands): September 30, December 31, 2016 2015 Finished race cars, parts and accessories $ 5,185 $ 5,542 Souvenirs and apparel 2,424 2,550 Micro-lubricant ® 805 619 Total $ 8,414 $ 8,711

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. GOODWILL AND OTHER INTANGIBLE ASSETS Annual Assessment – 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. Among other factors, the latest assessment assumes projected cash flow and profitability recovery, using modest annual inflationary growth rates for projected revenue streams and operating costs (other than NASCAR broadcasting revenues and event management fees), Management’s assumptions considered the following factors and conditions, the majority of which contributed to our 2015 impairment charge described below. NHMS was acquired in 2008, largely before the severe economic recession, which has resulted in long-term operating challenges for many major sports. The 2016 (and 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. 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. We have lowered our expectations for forecasted growth rates for certain revenues and profit recovery. However, those expectations and forecasts are based on many factors out of our control, and could be found unachievable. Such ultimate outcome could adversely impact our estimates of fair values, particularly for NHMS and TMS race date intangible assets. There have since been no other events or circumstances that indicate possible impairment, and management believes our operational and cash flow forecasts support our conclusions that no unrecognized impairment exists as of September 30, 2016. 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 our future financial condition or results of operations. The evaluations are subjective and based on conditions, trends and assumptions existing at the time of evaluation. Second Quarter 2015 Impairment – Other Information There were no changes in the gross carrying value of goodwill or other intangible assets during the three and nine months ended September 30, 2016. The carrying amounts for goodwill and other intangible assets include accumulated impairments of $148.6 million and $99.9 million at both September 30, 2016 and December 31, 2015. The gross carrying values and accumulated amortization by class of intangible asset are as follows (dollars in thousands): September 30, 2016 December 31, 2015 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 $ 298,383 — $ 298,383 — Amortizable race event sanctioning and renewal agreements 100 $ (97 ) 3 100 $ (89 ) 11 5 - 6 Total $ 298,483 $ (97 ) $ 298,386 $ 298,483 $ (89 ) $ 298,394

Note 5 - Long-term Debt

Note 5 - Long-term Debt	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Long-term Debt [Text Block]	5. LONG-TERM DEBT Bank Credit Facility – Our Credit Facility, among other things: (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) 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 ($7,500,000 for fiscal 2016). 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 we maintain certain consolidated total leverage ratios and consolidated interest coverage ratios. We repaid Term Loan borrowings of $20,000,000 and $52,000,000 during the three and nine months ended September 30, 2016, and $18,125,000 and $70 ,000,000 during the three and nine months ended September 30, 2015. During the three months ended September 30, 2015, the Company borrowed $50,000,000 under the Term Loan for partial funding of the 2019 Senior Notes redemption as further described below. At September 30, 2016 and December 31, 2015, outstanding borrowings under the Credit Facility were $68,000,000 and $120,000,000 (all Term Loan borrowings), and outstanding letters of credit amounted to $605,000 and $845,000. As of September 30, 2016, we had availability for borrowing up to an additional $99,395,000, including up to an additional $49,395,000 in letters of credit, under the revolving Credit Facility, and $50,000,000 under the delayed draw term loan provision. 2023 Senior Notes 2015 Early Redemption of 2019 Senior Notes Other Notes Payable Other General Terms and Conditions . See Note 6 to the Consolidated Financial Statements included in our 2015 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: 2016 2015 2016 2015 Gross interest costs $ 3,413 $ 3,622 $ 10,520 $ 13,932 Less: capitalized interest costs (74 ) (64 ) (452 ) (200 ) Interest expense 3,339 3,558 10,068 13,732 Interest income (49 ) (47 ) (148 ) (371 ) Interest expense, net $ 3,290 $ 3,511 $ 9,920 $ 13,361 Weighted-average interest rate on Credit Facility borrowings 2.0 % 1.8 % 2.0 % 1.9 % During the first quarter 2015, we 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, 2016
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 (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: 2016 2015 2016 2015 Income (loss) applicable to common stockholders and assumed conversions $ 13,666 $ 8,553 $ 39,274 $ (31,025 ) Weighted average common shares outstanding 41,123 41,267 41,178 41,306 Dilution effect of assumed conversions: Common stock equivalents—stock awards 12 21 13 30 Weighted average common shares outstanding and assumed conversions 41,135 41,288 41,191 41,336 Basic earnings (loss) per share $ 0.33 $ 0.21 $ 0.95 $ (0.75 ) Diluted earnings (loss) per share $ 0.33 $ 0.21 $ 0.95 $ (0.75 ) Anti-dilutive common stock equivalents excluded in computing diluted earnings (loss) per share 152 238 148 190 Stock Repurchase 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, 2016, we repurchased 64,000 and 189,000 shares of common stock for $1,150,000 and $3,439,000. As of September 30, 2016, we could repurchase up to an additional 505,000 shares under the current authorization. During the nine months ended September 30, 2016, we repurchased approximately 31,000 shares of common stock for $598,000 from management employees to settle income taxes on 66,000 restricted shares that vested during the period. As of and through September 30, 2016, treasury stock includes 246,000 shares of common stock delivered to the Company for such purposes. Declaration of Cash Dividends Declaration date February 17, 2016 April 19, 2016 July 19, 2016 October 19, 2016 Record date March 1, 2016 May 16, 2016 August 15, 2016 November 11, 2016 Paid or payable to shareholders March 18, 2016 June 6, 2016 September 5, 2016 December 2, 2016 Aggregate quarterly cash dividend $6,249 $6,180 $6,171 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, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. RELATED PARTY TRANSACTIONS The Company and Sonic Financial Corporation (Sonic Financial), a Company affiliate through common ownership by our Executive Chairman and our Chief Executive Officer, share various expenses in the ordinary course of business under a shared services agreement. Under the shared services agreement, the Company incurred expenses of $280,000 and $143,000 in the three months ended September 30, 2016 and 2015, and $729,000 and $355,000 in the nine months ended September 30, 2016 and 2015. A mounts due from or payable to Sonic Financial at September 30, 2016 or December 31, 2015 were not significant. 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 in the three months ended September 30, 2016 and 2015, and $542,000 and $518,000 in the nine months ended September 30, 2016 and 2015. Amounts owed to these affiliated companies at September 30, 2016 and December 31, 2015 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 $18,000 and $17,000 in the three months ended September 30, 2016 and 2015, and $123,000 and $58,000 in the nine months ended September 30, 2016 and 2015. There were no vehicles sold to SAI in the three or nine months ended September 30, 2016 and 2015. Also, SMI sold through certain speedways and its SMIP merchandising subsidiary various event related inventory and merchandise to SAI totaling $339,000 and $221,000 in the three months ended September 30, 2016 and 2015, and $794,000 and $688,000 in the nine months ended September 30, 2016 and 2015. At September 30, 2016 and December 31, 2015, approximately $157,000 and $85,000 was due from SAI and is reflected in current assets. Oil-Chem sold zMAX micro-lubricant ® product to certain SAI dealerships for resale to service customers of the dealerships in the ordinary course of business. Total purchases from Oil-Chem by SAI dealerships were $535,000 and $561,000 in the three months ended September 30, 2016 and 2015, and $1,619,000 and $1,651,000 in the nine months ended September 30, 2016 and 2015. At September 30, 2016 and December 31, 2015, approximately $197,000 and $158,000 was due from SAI and is reflected in current assets. The foregoing related party balances as of September 30, 2016 and December 31, 2015, and transactions for the three and nine months ended September 30, 2016 and 2015, are summarized below (in thousands): September 30, 2016 December 31, 2015 Accounts receivable $ 354 $ 243 Three Months Ended September 30: Nine Months Ended September 30: 2016 2015 2016 2015 Merchandise and vehicle purchases $ 18 $ 17 $ 123 $ 58 Shared services expense 280 143 729 355 Merchandise sales 874 782 2,413 2,339 Rent expense 181 181 542 518

Note 8 - Legal Proceedings and

Note 8 - Legal Proceedings and Contingencies	9 Months Ended
	Sep. 30, 2016
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, some of which may involve material claims. 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, 2016
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. STOCK COMPENSATION PLANS See Note 11 to the Consolidated Financial Statements in our 2015 Annual Report for additional information and terms of the Company’s stock compensation plans. 2013 Stock Incentive Plan 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: 2016 2015 Restricted Stock Restricted Stock Units Restricted Stock Restricted Stock Units Outstanding, beginning of period 67 132 64 64 Granted 35 35 35 100 Vested (32 ) (32 ) (29 ) (29 ) Forfeited (2 ) (6 ) (3 ) (3 ) Outstanding, end of period 68 129 67 132 In the nine months ended September 30, 2016 and 2015, the Company repurchased 31,000 and 28,000 shares of common stock for $588,000 and $630,000 from executive management employees to settle income taxes on 64,000 and 58,000 shares that vested during the period, respectively. 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, 2016 and 2015 totaled $852,000 and $869,000, before income taxes of $282,000 and $323,000, and for the nine months ended September 30, 2016 and 2015 totaled $2,560,000 and $2,520,000, before income taxes of $916,000 and $938,000, respectively, and is included in general and administrative expense. There were no capitalized share-based compensation costs at September 30, 2016 or December 31, 2015. As of September 30, 2016, there was approximately $3,393,000 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 1.1 years. As of September 30, 2016, 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.

Note 10 - Segment Disclosures

Note 10 - Segment Disclosures	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10 . SEGMENT DISCLOSURES Our operations are predominately comprised of promoting, marketing and sponsoring motorsports racing events, merchandising and other related activities conducted at our various major speedway facilities located in the United States. Our business activities, including those of our subsidiaries, are further described in Notes 1 and 2 to the Consolidated Financial Statements in our 2015 Annual Report. Our “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 reportable 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. Our “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 natural gas mineral rights lease and related revenues, and office rentals at certain Company speedways. Our “all other” operations also consists of revenues and direct expenses associated with two collegiate football games (including “the Battle at Bristol” and a large preceding concert as further discussed in Note 2). Management believes reporting these results separate from our core business of “motorsports event related” operations is appropriate as no additional football games are scheduled at this time (nor have any been held before). Segment information as presented below comports with information our 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 our segment information (in thousands): Three Months Ended September 30: 2016 2015 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 134,686 $ 35,975 $ 170,661 $ 136,748 $ 7,375 $ 144,123 Depreciation and amortization 13,977 40 14,017 20,259 45 20,304 Segment operating income 14,938 7,843 22,781 13,455 3,847 17,302 Nine Months Ended September 30: 2016 2015 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 382,656 $ 46,869 $ 429,525 $ 392,295 $ 16,423 $ 408,718 Depreciation and amortization 40,834 124 40,958 46,885 129 47,014 Impairment of other intangible assets and goodwill (Note 4) – – – 98,868 – 98,868 Segment operating income (loss) 59,715 10,493 70,208 (29,473 ) 5,065 (24,408 ) Capital expenditures 33,387 53 33,440 20,367 39 20,406 September 30, 2016 December 31, 2015 Other intangibles $ 298,386 – $ 298,386 $ 298,394 – $ 298,394 Goodwill 47,342 – 47,342 47,342 – 47,342 Total assets 1,502,492 $ 24,309 1,526,801 1,515,206 $ 23,991 1,539,197 The following table reconciles segment operating income or loss above to consolidated income or loss before income taxes for the periods indicated (in thousands): Three Months Ended Nine Months Ended September 30: September 30: 2016 2015 2016 2015 Total segment operating income (loss) $ 22,781 $ 17,302 $ 70,208 $ (24,408 ) Adjusted for: Interest expense, net (3,290 ) (3,511 ) (9,920 ) (13,361 ) Loss on early debt redemption and refinancing (Note 5) – – – (8,372 ) Other income (expense), net 941 (749 ) 886 (416 ) Consolidated income (loss) before income taxes $ 20,432 $ 13,042 $ 61,174 $ (46,557 )

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Quarterly Reporting [Policy Text Block]	Quarterly Reporting and Certain Schedule Changes The Battle at Bristol. Racing Schedule Changes . The more significant racing schedule changes for the three and nine months ended September 30, 2016 as compared to 2015 include: • Poor weather resulted in delaying the start of the NASCAR Sprint Cup race held at LVMS in the first quarter 2016 • Poor weather resulted in cancellation of a portion of the major NHRA weekend racing event held at CMS in the second quarter 2016 • Poor weather resulted in delays in starting and completing the NASCAR Sprint Cup race at TMS and Sprint All-Star race at CMS, and next day rescheduling of one NASCAR Camping World Truck Series race at CMS, in the second quarter 2016 • Poor weather resulted in delays in starting and completing one IndyCar race at TMS, which was rescheduled from the second quarter 2016 to the third quarter 2016 as further discussed below • Poor weather resulted in postponing and rescheduling one NASCAR Sprint Cup race held at BMS in the third quarter 2016 • TMS held one Red Bull Air Race in the third quarter 2015 that was not held in 2016 An IndyCar race scheduled at TMS in the second quarter 2016 was postponed due to poor weather, rescheduled for the next day and started and stopped due to poor weather, and rescheduled again and held in the third quarter 2016. Previous advance sales for tickets, sponsorships, and certain other event related revenues, race purse and sanction fees, sales and admission taxes, credit card processing fees and sales commissions on advance revenues were deferred as of June 30, 2016, and were recognized when the rescheduled race was held in the third quarter 2016. Previous event souvenir merchandise sales and commissions from food and beverage sales, and advertising, outside support, event labor and other costs expected to be re-incurred were recognized in the second quarter 2016 and were not deferred at September 30, 2016. New event revenues and expenses were recognized when the rescheduled race was held in accordance with the Company’s customary accounting policies. The Company has offered to honor previously sold tickets at the rescheduled race or exchange for race tickets to TMS’s upcoming NASCAR Sprint Cup races in November 2016 and April 2017 or IndyCar race in June 2017. The exchange offer expires in June 2017, and cash refunds were not offered. We are presently unable to determine the ultimate number of tickets or which race events or future reporting periods that may be affected by ticket exchanges or redemption. As of September 30, 2016, we have deferred race event income of $538,000 for unredeemed tickets associated with TMS’s 2016 IndyCar race. However, management believes the matter will not materially affect our future financial condition, results of operations or cash flows.
Income Tax, Policy [Policy Text Block]	Income Taxes the Consolidated Financial Statements in our 2015 Annual Report for additional information on our accounting for income taxes. The effective income tax rate for the three and nine months ended September 30, 2016 was 33.1% and 35.8%, and for the three and nine months ended September 30, 2015 was 34.4% and 33.4%. Our 2016 and 2015 effective tax rates reflect non-recurring tax benefits of $507,000 and $610,000 resulting from certain state income tax law changes. The tax rate for the nine months ended September 30, 2015 also reflects adjustments associated with second quarter 2015 intangible asset and goodwill impairment charges and certain deferred tax assets. The Company paid cash of $650,000 and $599,000 for income taxes in the nine months ended September 30, 2016 and 2015. We believe our year-end taxable income position will ultimately benefit from additional paid-in capital (APIC) net operating losses accumulated in 2015 and 2014 that relate to share-based compensation (See Note 9). As such, our 2016 consolidated financial statements reflect reduced income taxes payable, and increased additional paid-in capital, of $407,000 for windfall tax benefits associated with share-based compensation. Accounting for Uncertainty in Income Taxes As of September 30, 2016 and December 31, 2015, management believes $239,000 of unrecognized tax benefits will be recognized within the next twelve months. During the three and nine months ended September 30, 2016 and 2015, we recognized interest and penalties of $4,000 and $11,000, and $8,000 and $22,000, respectively, associated with unrecognized tax benefits. As of September 30, 2016 and December 31, 2015, the Company had $180,000 and $169,000 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 2015 by the California Franchise Tax Board, 2012 through 2015 by the Internal Revenue Service, and 2012 through 2015 by all other state taxing jurisdictions to which the Company is subject. The Company’s 2014 federal income tax return is under examination by the Internal Revenue Service, which began in July 2016. Anticipated Income Tax Benefit From Equity Interest Abandonment On January 31, 2014, the Company abandoned its interest and rights in Motorsports Authentics (former 50% owned, non-controlling interest, merchandising equity investment joint venture) (MA) to focus management resources in areas that may be profitable and more productive. The Company’s carrying value of the investment was reduced to $0 through sizable impairment charges prior to 2010 and MA’s historical operating results. The Company recognized no concurrent tax benefits as valuation allowances were provided against associated deferred tax assets. As a result of abandonment, the Company recognized a material income tax benefit of $48.1 million at December 31, 2013 for the reversal of previously recorded valuation allowances under applicable accounting guidance, and recognized tax losses reported on its 2014 income tax returns. Management believes there is or will be sufficient taxable income in carryback or carryforward periods under tax law for full utilization of these tax losses. The Company has reduced income taxes payable by approximately $36.0 million and $16.6 million through September 30, 2016 and December 31, 2015, through utilization of deferred income tax assets, including net operating losses, related to the 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. The Company believes it will fully utilize the associated tax losses. Should the Company’s tax position not be fully sustained if examined, an acceleration of material cash income taxes 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. Other Income Tax Benefits
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment
Lease, Policy [Policy Text Block]	TMS Mineral Rights Lease Receipts – , 337,000 in the nine months ended September 30, 2016 and 2015 under the lease agreement. An initial lease agreement was extended and natural 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. Such revenues have declined recently from associated market declines and volatility in natural gas price levels. 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 further decline, remain steady 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, 2016 and December 31, 2015, there were no receivables (not since collected) or deferred income associated with the expired or extended agreements.
Taxes Collected from Customers [Policy Text Block]	Taxes Collected from Customers – We report 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, 2016 and 2015 were $3,610,000 and $1,591,000, and for the nine months ended September 30, 2016 and 2015 were $6,427,000 and $4,582,000.
Advertising Costs, Policy [Policy Text Block]	Advertising Expenses
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments September 30, 2016 December 31, 2015 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 82,308 $ 82,308 $ 82,010 $ 82,010 Cash surrender values 2 NR 8,808 8,808 8,551 8,551 Liabilities Floating rate revolving Credit Facility, including Term Loan 2 NR 68,000 68,000 120,000 120,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 206,100 200,000 199,000 Other long-term debt 2 NR 1,206 1,206 1,383 1,383 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.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards – The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09 "Revenue from Contracts with Customers (Topic 606): Section A - Summary and Amendments That Create Revenue from Contracts with Customers and Other Assets and Deferred Costs - Contracts with Customers (Subtopic 340-40)” which enhances comparability and clarifies principles of revenue recognition. The guidance includes the core principle that entities recognize revenue to depict transfers of promised goods or services to customers in amounts that reflect the consideration entities expect to be entitled in exchange for those goods or services. In August 2015, the FASB issued Update No. 2015-14 approving deferral of Update No. 2014-09 for one year, with such guidance now effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting 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. 2015-03 "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 has chosen to continue deferring and presenting debt issuance costs as an asset and amortize deferred debt issuance costs ratably over line-of-credit arrangement terms. As such, adoption had no impact 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. 2016-02 “Leases (Subtopic 842)” which requires lessees to recognize assets and liabilities arising from leases as well as extensive quantitative and qualitative disclosures. Lessees will need to recognize on their balance sheets right-of-use assets and lease liabilities for the majority of their leases (other than leases meeting the definition of a short-term lease). Right-of-use assets will be measured at lease liability amounts, adjusted for lease prepayments, lease incentives received and lessee’s initial direct costs. Lease liabilities will equal the present value of lease payments. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The guidance is required to be applied using the modified retrospective approach for all leases existing as of the effective date, and provides for certain practical expedients. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update 2016-09 “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” which changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as the classification of related matters in the statement of cash flows. The guidance is effective for the Company in the first quarter of 2017. The Company is currently evaluating the potential impact that adoption may have on its financial statements. The FASB issued Accounting Standards Update 2016-15 “Statement of Cash Flows (Topic 23) - Classification of Certain Cash Receipts and Cash Payments” which provides specific guidance on eight cash flow classification issues. The guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, and should be applied using a retrospective transition method to each period presented. Early adoption is permitted, and any amendments must be adopted in the same period. The Company is currently evaluating the potential impact that adoption may have on its financial statements.

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies and Other Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	September 30, 2016 December 31, 2015 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 82,308 $ 82,308 $ 82,010 $ 82,010 Cash surrender values 2 NR 8,808 8,808 8,551 8,551 Liabilities Floating rate revolving Credit Facility, including Term Loan 2 NR 68,000 68,000 120,000 120,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 206,100 200,000 199,000 Other long-term debt 2 NR 1,206 1,206 1,383 1,383

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2016 2015 Finished race cars, parts and accessories $ 5,185 $ 5,542 Souvenirs and apparel 2,424 2,550 Micro-lubricant ® 805 619 Total $ 8,414 $ 8,711

Note 4 - Goodwill and Other I21

Note 4 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Finite Lived and Indefinite Lived Intangible Assets [Table Text Block]	September 30, 2016 December 31, 2015 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 $ 298,383 — $ 298,383 — Amortizable race event sanctioning and renewal agreements 100 $ (97 ) 3 100 $ (89 ) 11 5 - 6 Total $ 298,483 $ (97 ) $ 298,386 $ 298,483 $ (89 ) $ 298,394

Note 5 - Long-term Debt (Tables

Note 5 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended Nine Months Ended September 30: September 30: 2016 2015 2016 2015 Gross interest costs $ 3,413 $ 3,622 $ 10,520 $ 13,932 Less: capitalized interest costs (74 ) (64 ) (452 ) (200 ) Interest expense 3,339 3,558 10,068 13,732 Interest income (49 ) (47 ) (148 ) (371 ) Interest expense, net $ 3,290 $ 3,511 $ 9,920 $ 13,361 Weighted-average interest rate on Credit Facility borrowings 2.0 % 1.8 % 2.0 % 1.9 %

Note 6 - Per Share and Other 23

Note 6 - Per Share and Other Equity Information (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30: September 30: 2016 2015 2016 2015 Income (loss) applicable to common stockholders and assumed conversions $ 13,666 $ 8,553 $ 39,274 $ (31,025 ) Weighted average common shares outstanding 41,123 41,267 41,178 41,306 Dilution effect of assumed conversions: Common stock equivalents—stock awards 12 21 13 30 Weighted average common shares outstanding and assumed conversions 41,135 41,288 41,191 41,336 Basic earnings (loss) per share $ 0.33 $ 0.21 $ 0.95 $ (0.75 ) Diluted earnings (loss) per share $ 0.33 $ 0.21 $ 0.95 $ (0.75 ) Anti-dilutive common stock equivalents excluded in computing diluted earnings (loss) per share 152 238 148 190
Dividends Declared [Table Text Block]	Declaration date February 17, 2016 April 19, 2016 July 19, 2016 October 19, 2016 Record date March 1, 2016 May 16, 2016 August 15, 2016 November 11, 2016 Paid or payable to shareholders March 18, 2016 June 6, 2016 September 5, 2016 December 2, 2016 Aggregate quarterly cash dividend $6,249 $6,180 $6,171 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, 2016
Related Party Transactions [Member]
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Three Months Ended September 30: Nine Months Ended September 30: 2016 2015 2016 2015 Merchandise and vehicle purchases $ 18 $ 17 $ 123 $ 58 Shared services expense 280 143 729 355 Merchandise sales 874 782 2,413 2,339 Rent expense 181 181 542 518
Related Party Balances [Member]
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	September 30, 2016 December 31, 2015 Accounts receivable $ 354 $ 243

Note 9 - Stock Compensation P25

Note 9 - Stock Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nine Months Ended September 30: 2016 2015 Restricted Stock Restricted Stock Units Restricted Stock Restricted Stock Units Outstanding, beginning of period 67 132 64 64 Granted 35 35 35 100 Vested (32 ) (32 ) (29 ) (29 ) Forfeited (2 ) (6 ) (3 ) (3 ) Outstanding, end of period 68 129 67 132

Note 10 - Segment Disclosures (

Note 10 - Segment Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Other Intangibles and Good will [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	September 30, 2016 December 31, 2015 Other intangibles $ 298,386 – $ 298,386 $ 298,394 – $ 298,394 Goodwill 47,342 – 47,342 47,342 – 47,342 Total assets 1,502,492 $ 24,309 1,526,801 1,515,206 $ 23,991 1,539,197
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30: 2016 2015 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 134,686 $ 35,975 $ 170,661 $ 136,748 $ 7,375 $ 144,123 Depreciation and amortization 13,977 40 14,017 20,259 45 20,304 Segment operating income 14,938 7,843 22,781 13,455 3,847 17,302 Nine Months Ended September 30: 2016 2015 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 382,656 $ 46,869 $ 429,525 $ 392,295 $ 16,423 $ 408,718 Depreciation and amortization 40,834 124 40,958 46,885 129 47,014 Impairment of other intangible assets and goodwill (Note 4) – – – 98,868 – 98,868 Segment operating income (loss) 59,715 10,493 70,208 (29,473 ) 5,065 (24,408 ) Capital expenditures 33,387 53 33,440 20,367 39 20,406
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended Nine Months Ended September 30: September 30: 2016 2015 2016 2015 Total segment operating income (loss) $ 22,781 $ 17,302 $ 70,208 $ (24,408 ) Adjusted for: Interest expense, net (3,290 ) (3,511 ) (9,920 ) (13,361 ) Loss on early debt redemption and refinancing (Note 5) – – – (8,372 ) Other income (expense), net 941 (749 ) 886 (416 ) Consolidated income (loss) before income taxes $ 20,432 $ 13,042 $ 61,174 $ (46,557 )

Note 1 - Description of Busin27

Note 1 - Description of Business (Details Textual)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Jun. 30, 2015USD ($)	Sep. 30, 2016USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Dec. 31, 2015
Restatement Adjustment [Member]
Goodwill and Intangible Asset Impairment			$ (38,409,000)
Net Income (Loss) Attributable to Parent					$ (2,955,000)
Earnings Per Share, Basic | $ / shares					$ 0.07
NASCAR [Member] | Sprint Cup Series Events [Member]
Number of Events Planned				13
Number of Racing Events						13
NASCAR [Member] | Xfinity Series Events [Member]
Number of Events Planned				11
Number of Racing Events						11
NASCAR [Member] | Camping World Trucks Series Events [Member]
Number of Events Planned				8
Number of Racing Events						8
NASCAR [Member] | K and N Pro Series Events [Member]
Number of Events Planned				3
Number of Racing Events						3
NASCAR [Member] | Whelen Modified Tour [Member]
Number of Events Planned				4
Number of Racing Events						4
NASCAR [Member]
Number of Events Planned				24
Number of Racing Events						24
Indy Car Series [Member]
Number of Events Planned				2
Number of Racing Events						2
National Hot Rod Association [Member]
Number of Events Planned				6
Number of Racing Events						6
Automobile Racing Club of America [Member]
Number of Events Planned				1
Number of Racing Events						1
World of Outlaws [Member]
Number of Events Planned				3
Number of Racing Events						3
Goodwill and Intangible Asset Impairment					$ 98,868,000
Net Income (Loss) Attributable to Parent	$ 13,666,000	$ 8,553,000		$ 39,274,000	$ (31,025,000)
Earnings Per Share, Basic | $ / shares	$ 0.33	$ 0.21		$ 0.95	$ (0.75)

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, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2013	Jan. 31, 2014
State and Local Jurisdiction [Member]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount			$ (507,000)		$ (610,000)
Discontinued Operations [Member]
Unrecognized Tax Benefits	$ 11,781,000		11,781,000
Other Noncurrent Liabilities [Member]
Unrecognized Tax Benefits	11,832,000		11,832,000		499,000
Deferred Tax Liabilities [Member]
Unrecognized Tax Benefits	448,000		448,000		11,781,000
Motorsports Authentics [Member]
Equity Method Investment, Ownership Percentage							50.00%
Equity Method Investments							$ 0
Texas Motor Speedway Inc. [Member]
Depreciation	357,000
Atlanta Motor Speedway Property [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	1,519,000
BMS Scoreboard [Member]
Property, Plant and Equipment, Disposals		$ 7,011,000
Payments for Removal Costs		458,000
Texas Motor Speedway Inc. [Member]
Royalty Revenue	615,000	$ 1,202,000	1,666,000	$ 3,337,000
Deferred Revenue	$ 538,000		$ 538,000
Effective Income Tax Rate Reconciliation, Percent	33.10%	34.40%	35.80%	33.40%
Income Taxes Paid			$ 650,000	$ 599,000
Unrecognized Tax Benefits	$ 12,280,000		12,280,000		12,280,000
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation			407,000
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	239,000		239,000		239,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	4,000	$ 8,000	11,000	22,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	180,000		180,000		169,000
Income Tax Expense (Benefit)	6,766,000	4,489,000	21,900,000	(15,532,000)		$ 48,100,000
Increase (Decrease) in Income Taxes Payable			36,000,000	(16,600,000)
Excise and Sales Taxes	3,610,000	1,591,000	6,427,000	4,582,000
Advertising Expense	5,724,000	$ 7,537,000	13,306,000	$ 13,077,000
Deferred Advertising Costs	$ 0		$ 0		$ 0

Note 2 - Significant Accounti29

Note 2 - Significant Accounting Policies and Other Disclosures - Estimated Fair Values and Categorization Levels of Financial Instruments (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	$ 82,308,000	$ 82,010,000
Cash surrender values	8,808,000	8,551,000
Floating rate revolving Credit Facility, including Term Loan	68,000,000	120,000,000
5.125% Senior Notes Payable due 2023	200,000,000	200,000,000
Other long-term debt	1,206,000	1,383,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	82,308,000	82,010,000
Cash surrender values	8,808,000	8,551,000
Floating rate revolving Credit Facility, including Term Loan	68,000,000	120,000,000
5.125% Senior Notes Payable due 2023	206,100,000	199,000,000
Other long-term debt	1,206	1,383
Cash and cash equivalents	$ 82,308,000	$ 82,010,000	$ 87,344,000	$ 110,046,000

Note 2 - Significant Accounti30

Note 2 - Significant Accounting Policies and Other Disclosures - Estimated Fair Values and Categorization Levels of Financial Instruments (Details) (Parentheticals)	Sep. 30, 2016	Dec. 31, 2015
Senior Notes Payable, Interest	5.125%	5.125%

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventories Components (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finished Vehicles Parts and Accessories [Member]
Inventories, net	$ 5,185	$ 5,542
Souvenirs and Apparel [Member]
Inventories, net	2,424	2,550
Micro Lubricant and Other [Member]
Inventories, net	805	619
Inventories, net	$ 8,414	$ 8,711

Note 4 - Goodwill and Other I32

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2015	Sep. 30, 2016	Dec. 31, 2015
Goodwill, Impaired, Accumulated Impairment Loss		$ 148,600,000	$ 148,600,000
Other Intangible Assets, Impaired, Accumulated Impairment Loss		$ 99,900,000	$ 99,900,000
Impairment of Intangible Assets (Excluding Goodwill)	$ 96,530,000
Impairment of Intangible Assets Income Tax Expense (Benefit)	34,569,000
Goodwill, Impairment Loss	2,338,000
Impairment of Goodwill Income Tax Expense Benefit	885,000
Goodwill, Fair Value Disclosure	$ 0

Note 4 - Goodwill and Other I33

Note 4 - Goodwill and Other Intangible Assets - Gross Carrying Values and Accumulated Amortization by Class of Intangible Asset (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Nonamortizable Race Event Sanctioning and Renewal Agreements [Member]
Nonamortizable race event sanctioning and renewal agreements	$ 298,383	$ 298,383
Amortizable Race Event Sanctioning and Renewal Agreements [Member] | Minimum [Member]
Amortizable race event sanctioning and renewal agreements	5 years
Amortizable Race Event Sanctioning and Renewal Agreements [Member] | Maximum [Member]
Amortizable race event sanctioning and renewal agreements	6 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	(97)	(89)
Amortizable race event sanctioning and renewal agreements	3	11
Amortizable race event sanctioning and renewal agreements	(97)	(89)
Total	298,483	298,483
Other intangibles	$ 298,386	$ 298,394

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual)	Mar. 13, 2015USD ($)	Jan. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Interest Bearing Debt Associated With BMS Purchase [Member]
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate			3.00%			3.00%		3.00%
Long-term Debt, Percentage Bearing Fixed Interest, Amount			$ 1,206,000			$ 1,206,000		$ 1,383,000
Debt Instrument, Number of Periodic Payments						8
Debt Instrument, Periodic Payment						$ 194,000
The 2014 Amendment of Bank Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity			100,000,000			100,000,000
Line of Credit Facility, Remaining Borrowing Capacity			99,395,000			99,395,000
The 2014 Amendment of Bank Credit Facility [Member] | Standby Letters of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			50,000,000			50,000,000
The 2014 Amendment of Bank Credit Facility [Member] | Swing Line Loans [Member]
Line of Credit Facility, Maximum Borrowing Capacity			10,000,000			$ 10,000,000
The 2014 Amendment of Bank Credit Facility [Member] | Senior Secured Term Loan [Member]
Debt Instrument, Term						5 years
Debt Instrument, Face Amount			150,000,000			$ 150,000,000
The 2014 Amendment of Bank Credit Facility [Member] | Delayed Draw Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity			50,000,000			$ 50,000,000
Debt Instrument, Term						5 years
The 2014 Amendment of Bank Credit Facility [Member] | Letter of Credit [Member]
Line of Credit Facility, Remaining Borrowing Capacity			49,395,000			$ 49,395,000
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			$ 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						$ 7,500,000
Repayments of Debt			20,000,000	$ 18,125,000		52,000,000	$ 70,000,000
Proceeds from Issuance of Long-term Debt				$ 50,000,000
Long-term Debt			68,000,000			$ 68,000,000		120,000,000
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			200,000,000
Debt Agreement, Maximum Borrowing Capacity			250,000,000			250,000,000
Debt Instrument Covenant, Maximum Dividends Payments and Repurchases of Securities			50,000,000			50,000,000
Debt Instrument Covenant Annual Capital Expenditures			75,000,000			75,000,000
The 2019 Senior Notes [Member] | Delayed Draw Term Loan [Member]
Line of Credit Facility, Remaining Borrowing Capacity			50,000,000			50,000,000
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 Redemption Premium					$ 8,372,000
Income Taxes Paid, Net					3,106,000
Unamortized Net Deferred Loan Costs					3,134,000
Debt Instrument, Unamortized Premium					3,200,000
Interest Expense, Debt					$ 1,688,000
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
Revolving Credit Facility [Member]
Letters of Credit Outstanding, Amount			$ 605,000			$ 605,000		$ 845,000
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000,000
Eurodollar [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate						1.25%
Eurodollar [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate						2.00%
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%
Prime Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate						0.25%
Prime Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate						1.00%
Proceeds from Issuance of Long-term Debt							$ 251,383,000
Debt Instrument, Interest Rate, Stated Percentage			5.125%			5.125%		5.125%

Note 5 - Long-term Debt - Inter

Note 5 - Long-term Debt - Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Gross interest costs	$ 3,413	$ 3,622	$ 10,520	$ 13,932
Less: capitalized interest costs	(74)	(64)	(452)	(200)
Interest expense	3,339	3,558	10,068	13,732
Interest income	(49)	(47)	(148)	(371)
Interest expense, net	$ 3,290	$ 3,511	$ 9,920	$ 13,361
Weighted-average interest rate on Credit Facility borrowings	2.00%	1.80%	2.00%	1.90%

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, 2016	Sep. 30, 2016	Sep. 30, 2015
Repurchase #1 [Member]
Treasury Stock, Shares, Acquired	64,000	189,000
Treasury Stock, Value, Acquired, Cost Method	$ 1,150,000	$ 3,439,000
Repurchase #2 [Member] | Management [Member]
Treasury Stock, Shares, Acquired		31,000
Treasury Stock, Value, Acquired, Cost Method		$ 598,000
Management [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		66,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		32,000	29,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	5,000,000	5,000,000
Treasury Stock, Value, Acquired, Cost Method		$ 4,037,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	505,000	505,000
Treasury Stock, Common, Shares	246,000	246,000

Note 6 - Per Share and Other 37

Note 6 - Per Share and Other Equity Information - Basic and Diluted Earnings or Loss Per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income (loss) applicable to common stockholders and assumed conversions	$ 13,666	$ 8,553	$ 39,274	$ (31,025)
Weighted average common shares outstanding (in shares)	41,123	41,267	41,178	41,306
Dilution effect of assumed conversions:
Common stock equivalents—stock awards (in shares)	12	21	13	30
Weighted average common shares outstanding and assumed conversions (in shares)	41,135	41,288	41,191	41,336
Basic earnings (loss) per share (in dollars per share)	$ 0.33	$ 0.21	$ 0.95	$ (0.75)
Diluted earnings (loss) per share (in dollars per share)	$ 0.33	$ 0.21	$ 0.95	$ (0.75)
Anti-dilutive common stock equivalents excluded in computing diluted earnings (loss) per share (in shares)	152	238	148	190

Note 6 - Per Share and Other 38

Note 6 - Per Share and Other Equity Information - Declaration of Cash Dividends (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)$ / shares
Dividend Declared on February 17, 2016 [Member]
Declaration date	Feb. 17, 2016
Record date	Mar. 1, 2016
Paid or payable to shareholders	Mar. 18, 2016
Aggregate quarterly cash dividend	$ 6,249
Dividend per common share (in dollars per share) | $ / shares	$ 0.15
Dividend Declared on April 19, 2016 [Member]
Declaration date	Apr. 19, 2016
Record date	May 16, 2016
Paid or payable to shareholders	Jun. 6, 2016
Aggregate quarterly cash dividend	$ 6,180
Dividend per common share (in dollars per share) | $ / shares	$ 0.15
Dividend Declared on July 19, 2016 [Member]
Declaration date	Jul. 19, 2016
Record date	Aug. 15, 2016
Paid or payable to shareholders	Sep. 5, 2016
Aggregate quarterly cash dividend	$ 6,171
Dividend per common share (in dollars per share) | $ / shares	$ 0.15
Dividend Declared on October 19, 2016 [Member]
Declaration date	Oct. 19, 2016
Record date	Nov. 11, 2016
Paid or payable to shareholders	Dec. 2, 2016
Aggregate quarterly cash dividend	$ 6,200
Dividend per common share (in dollars per share) | $ / shares	$ 0.15
Aggregate quarterly cash dividend	$ 18,599

Note 7 - Related Party Transa39

Note 7 - Related Party Transactions (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Affiliated Entity [Member]
Operating Leases, Rent Expense	$ 181,000	$ 181,000	$ 542,000	$ 518,000
Sonic Automotive Inc. [Member] | SMI Properties [Member]
Revenue from Related Parties	$ 339,000	$ 221,000	$ 794,000	$ 688,000
Sonic Automotive Inc. [Member]
Number of Vehicles Sold	0	0	0	0
Sonic Financial [Member] | Oil Chem [Member]
Revenue from Related Parties	$ 535,000	$ 561,000	$ 1,619,000	$ 1,651,000
Due from Related Parties	197,000		197,000		$ 158,000
Sonic Financial [Member]
Related Party Transaction, Purchases from Related Party	18,000	17,000	123,000	58,000
Due from Affiliates	157,000		157,000		$ 85,000
Related Party Transaction, Expenses from Transactions with Related Party	280,000	143,000	729,000	355,000
Related Party Transaction, Purchases from Related Party	18,000	17,000	123,000	58,000
Revenue from Related Parties	$ 874,000	$ 782,000	$ 2,413,000	$ 2,339,000

Note 7 - Related Party Transa40

Note 7 - Related Party Transactions - Foregoing Related Party Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts receivable	$ 354	$ 243

Note 7 - Related Party Transa41

Note 7 - Related Party Transactions - Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Merchandise and vehicle purchases	$ 18,000	$ 17,000	$ 123,000	$ 58,000
Shared services expense	280,000	143,000	729,000	355,000
Merchandise sales	874,000	782,000	2,413,000	2,339,000
Rent expense	$ 181,000	$ 181,000	$ 542,000	$ 518,000

Note 9 - Stock Compensation P42

Note 9 - Stock Compensation Plans (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Restricted Stock Units (RSUs) [Member] | The 2013 Stock Incentive Plan [Member] | Chief Executive Officer and President [Member] | Three Year Vesting Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period							35,000
Restricted Stock Units (RSUs) [Member] | The 2013 Stock Incentive Plan [Member] | Chief Executive Officer and President [Member] | Five Year Vesting Period [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period							65,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period							5 years
Restricted Stock Units (RSUs) [Member] | The 2013 Stock Incentive Plan [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
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period						3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period						35,000	100,000
Restricted Stock [Member] | The 2013 Stock Incentive Plan [Member] | Vice Chairman and Chief Financial Officer [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						3 years
Restricted Stock [Member] | The 2008 Formula Restricted Stock Plan [Member] | Non Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	3,994	12,816	16,112
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				$ 3,393,000		$ 3,393,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						1 year 36 days
The 2013 Stock Incentive Plan [Member] | Management [Member]
Stock Repurchased During Period, Shares						31,000	28,000
Stock Repurchased During Period, Value						$ 588,000	$ 630,000
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings						64,000	58,000
The 2013 Stock Incentive Plan [Member] | Non Executive Management Employees [Member]
Stock Repurchased During Period, Shares							500
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings							1,500
The 2004 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price							$ 15.83
Stock Incentive Plan 2004 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						46,250
General and Administrative Expense [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense				282,000	$ 323,000	$ 916,000	$ 938,000
Allocated Share-based Compensation Expense				852,000	$ 869,000	$ 2,560,000	$ 2,520,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options				$ 0		$ 0
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount						$ 0		$ 0

Note 9 - Stock Compensation P43

Note 9 - Stock Compensation Plans - Summary of Non-vested Restricted Stock and Restricted Stock (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Restricted Stock [Member]
Outstanding, beginning of period (in shares)	67	64
Granted (in shares)	35	35
Vested (in shares)	(32)	(29)
Forfeited (in shares)	(2)	(3)
Outstanding, end of period (in shares)	68	67
Restricted Stock Units (RSUs) [Member]
Outstanding, beginning of period (in shares)	132	64
Granted (in shares)	35	100
Vested (in shares)	(32)	(29)
Forfeited (in shares)	(6)	(3)
Outstanding, end of period (in shares)	129	132

Note 10 - Segment Disclosures -

Note 10 - Segment Disclosures - Segment Information on Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Motorsports Event Segment [Member]
Revenues	$ 134,686	$ 136,748	$ 382,656	$ 392,295
Depreciation and amortization	13,977	20,259	40,834	46,885
Segment operating income	14,938	13,455	59,715	(29,473)
Impairment of other intangible assets and goodwill (Note 4)				98,868
Capital expenditures			33,387	20,367
Other Segments [Member]
Revenues	35,975	7,375	46,869	16,423
Depreciation and amortization	40	45	124	129
Segment operating income	7,843	3,847	10,493	5,065
Impairment of other intangible assets and goodwill (Note 4)
Capital expenditures			53	39
Revenues	170,661	144,123	429,525	408,718
Depreciation and amortization	14,017	20,304	40,958	47,014
Segment operating income	$ 22,781	$ 17,302	70,208	(24,408)
Impairment of other intangible assets and goodwill (Note 4)				98,868
Capital expenditures			$ 33,440	$ 20,406

Note 10 - Segment Disclosures45

Note 10 - Segment Disclosures - Summary of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Motorsports Event Segment [Member]
Other intangibles	$ 298,386	$ 298,394
Goodwill	47,342	47,342
Total assets	1,502,492	1,515,206
Other Segments [Member]
Other intangibles
Goodwill
Total assets	24,309	23,991
Other intangibles	298,386	298,394
Goodwill	47,342	47,342
Total assets	$ 1,526,801	$ 1,539,197

Note 10 - Segment Disclosures46

Note 10 - Segment Disclosures - Reconciliation of Segment Operating Income or Loss to Consolidated Amounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment operating income	$ 22,781	$ 17,302	$ 70,208	$ (24,408)
us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedAbstract
Interest expense, net	(3,290)	(3,511)	(9,920)	(13,361)
Loss on early debt redemption and refinancing (Note 5)				(8,372)
Other income (expense), net	941	(749)	886	(416)
Consolidated income (loss) before income taxes	$ 20,432	$ 13,042	$ 61,174	$ (46,557)