Speedway Motorsports (TRK) 10-Q 28 Apr 17 2017 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
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)		41,064,116
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 53,585	$ 79,342
Accounts receivable, net	65,763	29,444
Prepaid and refundable income taxes	9,638	7,384
Inventories, net	8,549	8,212
Prepaid expenses	3,412	3,527
Total Current Assets	140,947	127,909
Notes Receivable	1,102	1,143
Other Assets	23,381	23,142
Property and Equipment, Net (Note 2)	992,253	1,000,230
Other Intangible Assets, Net	298,383	298,383
Goodwill	47,342	47,342
Total	1,503,408	1,498,149
Current Liabilities:
Current maturities of long-term debt	7,662	7,657
Accounts payable	16,128	13,497
Deferred race event and other income, net	69,548	44,782
Accrued income taxes	496
Accrued interest	1,718	4,311
Accrued expenses and other current liabilities	16,698	24,424
Total Current Liabilities	112,250	94,671
Long-term Debt	251,540	254,398
Deferred Income	3,617	3,742
Deferred Income Taxes, Net	329,029	329,398
Other Liabilities	18,455	18,157
Total Liabilities	714,891	700,366
Commitments and Contingencies
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 – 41,066,000 in 2017 and 41,098,000 in 2016	460	459
Additional Paid-in Capital	259,688	258,880
Retained Earnings	636,132	644,308
Treasury Stock at cost, shares – 4,923,000 in 2017 and 4,830,000 in 2016	(107,763)	(105,864)
Total Stockholders ’ Equity	788,517	797,783
Total	$ 1,503,408	$ 1,498,149

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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)	41,066,000	41,098,000
Common Stock, shares outstanding (in shares)	41,066,000	41,098,000
Treasury Stock at cost, shares (in shares)	4,923,000	4,830,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Admissions	$ 14,750,000	$ 15,439,000
Event related revenue	18,959,000	21,730,000
NASCAR broadcasting revenue	38,811,000	37,447,000
Other operating revenue	7,805,000	8,560,000
Total Revenues	80,325,000	83,176,000
Expenses and Other:
Direct expense of events	12,457,000	13,060,000
NASCAR event management fees	23,060,000	22,298,000
Other direct operating expense	5,140,000	5,589,000
General and administrative	22,586,000	24,074,000
Depreciation and amortization (Note 2)	17,505,000	13,371,000
Interest expense, net	3,005,000	3,339,000
Other expense, net	578,000	68,000
Total Expenses and Other	84,331,000	81,799,000
(Loss) Income Before Income Taxes	(4,006,000)	1,377,000
Benefit (Provision) for Income Taxes	2,071,000	(516,000)
Net (Loss) Income	$ (1,935,000)	$ 861,000
Basic (Loss) Earnings Per Share (Note 6) (in dollars per share)	$ (0.05)	$ 0.02
Weighted Average Shares Outstanding (in shares)	41,087	41,227
Diluted (Loss) Earnings Per Share (Note 6) (in dollars per share)	$ (0.05)	$ 0.02
Weighted Average Shares Outstanding (in shares)	41,108	41,244

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2017 - 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, 2016	41,098
Balance at Dec. 31, 2016	$ 459	$ 258,880	$ 644,308	$ (105,864)	$ 797,783
Net loss			(1,935)		(1,935)
Share-based compensation (in shares)	61
Share-based compensation	$ 1	808			809
Quarterly cash dividends of $0.15 per share of common stock			(6,241)		(6,241)
Repurchases of common stock (in shares)	(93)
Repurchases of common stock				(1,899)	(1,899)
Balance (in shares) at Mar. 31, 2017	41,066
Balance at Mar. 31, 2017	$ 460	$ 259,688	$ 636,132	$ (107,763)	$ 788,517

Consolidated Statement of Stoc6

Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals)	3 Months Ended
	Mar. 31, 2017$ / 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	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net loss	$ (1,935)	$ 861
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Deferred loan cost amortization	387	373
Loss (gain) on disposals of property and equipment	477	(12)
Depreciation and amortization	17,505	13,371
Amortization of deferred income	(182)	(193)
Deferred income tax provision	(288)	415
Share-based compensation	809	867
Changes in operating assets and liabilities:
Accounts receivable	(36,599)	(15,405)
Prepaid, refundable and accrued income taxes	(1,758)	(50)
Inventories	(337)	(1,027)
Prepaid expenses	115	(236)
Increase (Decrease) in Accounts Payable	92	681
Deferred race event and other income	24,774	34,765
Accrued interest	(2,593)	(2,567)
Accrued expenses and other liabilities	(8,171)	(5,973)
Deferred income	49	16
Other assets and liabilities	(115)	(155)
Net Cash (Used) Provided By Operating Activities	(7,770)	25,731
Cash Flows from Financing Activities:
Principal payments on long-term debt	(3,157)	(2,177)
Dividend payments on common stock	(6,241)	(6,249)
Repurchases of common stock	(1,899)	(1,726)
Net Cash Used By Financing Activities	(11,297)	(10,152)
Cash Flows from Investing Activities:
Payments for capital expenditures	(7,054)	(18,355)
Proceeds from sales of property and equipment	43
Repayment of notes and other receivables	321	39
Net Cash Used By Investing Activities	(6,690)	(18,316)
Net Decrease in Cash and Cash Equivalents	(25,757)	(2,737)
Cash and Cash Equivalents at Beginning of Period	79,342	82,010
Cash and Cash Equivalents at End of Period	53,585	79,273
Supplemental Cash Flow Information:
Cash paid for interest, net of amounts capitalized	5,846	5,949
Supplemental Non-Cash Investing and Financing Activities Information:
Increase in accounts payable for capital expenditures	$ 2,502	$ 3,540

Note 1 - Description of Busines

Note 1 - Description of Business	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Nature of Operations [Text Block]	1. 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” 1 2 2016 10 (2016 In early 2017, Racing Events – In 2017 , we plan to hold 24 13 11 Xfinity Series racing events. We also plan to hold eight three four two six one three World of Outlaws (WOO) racing events. In 2016, 24 13 11 eight three four two six one three

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies and Other Disclosures	3 Months Ended
	Mar. 31, 2017
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 2016 may 2 2016 Quarterly Reporting There were no significant racing schedule changes for the three March 31, 2017 2016. Consolidated Statements of Cash Flows – Before December 31, 2016, third $90,000 three March 31, 2016. Income Tax es may See Notes 2 8 the Consolidated Financial Statements in our 2016 The effective income tax rate for the three March 31, 2017 2016 51.7% 37.5%, 2017 $1,310,000 certain state net operating loss carryforwards of $515,000. e paid cash of $0 $200,000 three March 31, 2017 2016. Accounting for Uncertainty in Income Taxes – Income tax liabilities for unrecognized tax benefits approximate $12,006,000 March 31, 2017 December 31, 2016, $11,746,000 1 2016 $11,794,000 , $212,000 March 31, 2017 December 31, 2016. March 31, 2017 December 31, 2016, $260,000 twelve three March 31, 2017 2016. As of March 31, 2017 December 31, 2016, $145,000 $140,000 2006 2008, 2012 2016, 2013 2016 2013 2016 2012 2016 2014 July 2016. Income Tax Benefit From Equity Interest Abandonment January 31, 2014, 50% may $0 2010 $48.1 December 31, 2013 2014 March 31, 2017 W e believe it is more likely than not that our filing position would be sustained based on its technical merits upon examination with taxing authorities that have full knowledge of all relevant information. We reached this conclusion based on the use of outside legal counsel and other tax consultants and the potential to utilize tax losses. We believe we will fully utilize the associated tax losses. Should our tax position not be fully sustained upon examination, reestablishment of material income tax liabilities and acceleration of cash income taxes payable could occur. Any differences between the final tax outcome and amounts recorded would affect our income tax provision in the period in which such determination was made. Other Income Tax Benefits – Applicable accounting guidance may March 31, 2017, $12.0 Taxes Collected from Customers – The Company reports sales, admission and other taxes collected from customers on both a gross and net basis in operations. Such taxes reported on a gross basis for the three March 31, 2017 2016 $411,000 $366,000. Advertising Expenses – Event specific advertising costs are expensed when an associated event is held and included principally in direct expense of events. Non-event related advertising costs are expensed as incurred and included principally in other direct operating expense. Advertising expense amounted to $1,604,000 $1,927,000 three March 31, 2017 2016. March 31, 2017 December 31, 2016. TMS Mineral Rights Lease Receipts – We recognized royalty revenue of $448,000 $627,000 three March 31, 2017 2016 2 2016 25% 2017, 2017 2016, As of March 31, 2017 December 31, 2016, Fair Value of Financial Instruments – We follow applicable authoritative guidance which requires that financial and non-financial assets and liabilities measured and reported on a fair value basis be classified, disclosed and categorized as further described below. Fair value estimates are based on relevant market information and single broker quoted market prices where available at a specific point in time, and changes in assumptions or market conditions could significantly affect estimates. The carrying values of cash and cash equivalents, accounts receivable, certain other assets and accounts payable approximate fair value because of the short maturity of these financial instruments. Cash surrender values are carried at fair value based on binding broker quoted market prices. Notes receivable and bank revolving credit facility and term loan borrowings are variable interest rate financial instruments and, therefore, carrying values approximate fair value. The fixed rate senior notes payable are publicly traded and estimated fair values are based on single broker quoted market prices. Other long-term debt bears interest approximating market rates or where non-interest bearing is discounted based on estimated current cost of borrowings; therefore, carrying values approximate market value. There have been no changes or transfers between category levels or classes. The following table presents estimated fair values and categorization levels of our financial instruments as of March 31, 2017 December 31, 2016 2017 2016 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 53,585 $ 53,585 $ 79,342 $ 79,342 Notes receivable 2 NR 1,102 1,102 1,143 1,143 Cash surrender values 2 NR 9,174 9,174 8,919 8,919 Liabilities (principal) Floating rate revolving Credit Facility, including Term Loan 2 NR 63,000 63,000 66,000 66,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 202,000 200,000 202,500 Other long-term debt 2 NR 1,049 1,049 1,206 1,206 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. Property and Equipment – From time to time, we may first 2017, 7,000 17,000 12,000 first 2017. $4,597,000 , before income tax benefits of $1,700,000, first 2017. 10). Recently Issued Accounting Standards – The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014 09 606): 340 40)" 2016 08 606) 2014 09, 2016 10 606) 2014 09 2015 14 2014 09 one December 15, 2017, December 15, 2016, may first 2018. may The FASB issued Accounting Standards Update No. 2015 11 330): 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, January 1, 2017 . The FASB issued Accounting Standards Update No. 2016 02 Leases (Subtopic 842)” may December 15, 2018, may The FASB issued Accounting Standards Update No. 2016 15 Statement of Cash Flows (Topic 23) eight December 15, 2017, The FASB issued Accounting Standards Update No. 2017 04 Intangibles – Goodwill and Other (Topic 350): 2 December 15, 2019, January 1, 2017. may second

Note 3 - Inventories

Note 3 - Inventories	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories , net consist of the following components (in thousands): March 31, December 31, 2017 2016 Finished race cars, parts and accessories $ 5,085 $ 5,263 Souvenirs and apparel 2,687 2,131 Micro-lubricant ® 777 818 Total $ 8,549 $ 8,212

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. OODWILL AND O THER I NTANGIBLE ASSET S Annual Impairment Assessment – evaluates goodwill and other intangible assets for possible impairment annually in the second may 2 5 2016 Management's latest annual assessment in the second 2016 te of future discounted operating cash flows and profitability attributable to such assets for all individual reporting units. Management also considered that the estimated market value for comparable NASCAR race event sanction and renewal agreements (we had agreements with NASCAR to annually conduct thirteen eleven eight 3" 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), and strategic amounts of planned capital expenditures. Management projected annual increases in contracted NASCAR broadcasting rights revenues, and associated NASCAR event management fees, based on historical and anticipated rates which are supported by recently negotiated multi-year contracts. NASCAR event management fees for years after 2020 Our 2016 March 31, 2017 December 31, 2016, $199.6 $98.8 2008, 2016 There have since been no other events or circumstances that indicate possible impairment, and management believes our operational and cash flow forecasts support our conclusion s that no March 31, 2017. Other Information – There were no changes in the gross carrying value of goodwill or other intangible assets during the three March 31, 2017. $148.6 $99.9 March 31, 2017 December 31, 2016. March 31, 2017 December 31, 2016 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 $ (100 ) — 100 $ (100 ) — 5 - 6 Total $ 298,483 $ (100 ) $ 298,383 $ 298,483 $ (100 ) $ 298,383

Note 5 - Long-term Debt

Note 5 - Long-term Debt	3 Months Ended
	Mar. 31, 2017
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 $100,000,000 $50,000,000 $10,000,000 five $150,000,000 five $50,000,000 March 2015 second 2015) December 2019; $100,000,000 $200,000,000, $250,000,000) $50,000,000, $75,000,000 $75,000,000 5% ($7,500,000 2017). Interest is based, at the Company ’s option, upon the Eurodollar Rate plus 1.25% 2.00% 0.5% 1%, 0.25% 1.00%. 0.25% 0.40% During the three March 31, 2017 2016, $3,000,000 $2,000,000 At March 31, 2017 December 31, 2016, $63,000,000 $66,000,000 $605,000 March 31, 2017, $99,395,000, $49,395,000 $50,000,000 2023 – We completed a private placement of 5.125% 2023 $200.0 January 2015 2023 2023 second 2015. 2023 2019 6 2016 2023 February 2023 February 1 August 1. Other Notes Payable – At March 31, 2017 December 31, 2016, 3% $1,049,000 $1,206,000 eight $194,000 January 2016. Deferred Financing Costs – Deferred financing costs associated with our revolving Credit Facility are reported in other noncurrent assets, and those associated with the 2023 March 31, 2017 December 31, 2016, $4 , 847,000 $5 , 151 ,000. Other General Terms and Conditions 2023 March 31, 2017 . See Note 6 2016 Subsidiary Guarantees – 2023 2023 Interest Expense, Net – Three Months Ended March 31: 2017 2016 Gross interest costs $ 3,308 $ 3,564 Less: capitalized interest costs (55 ) (182 ) Interest expense 3,253 3,382 Interest income (248 ) (43 ) Interest expense, net $ 3,005 $ 3,339 Weighted-average interest rate on Credit Facility borrowings 2.1 % 1.9 %

Note 6 - Per Share and Other Eq

Note 6 - Per Share and Other Equity Information	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Stockholders Equity and Earnings Per Share [Text Block]	6. The following schedule reconciles basic and diluted (loss) income 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 March 31: 2017 2016 Net (loss) income applicable to common stockholders and assumed conversions $ (1,935 ) $ 861 Weighted average common shares outstanding 41,087 41,227 Dilution effect of assumed conversions: Common stock equivalents —stock awards 21 17 Weighted average common shares outstanding and assumed conversions 41,108 41,244 Basic (loss) income per share $ (0.05 ) $ 0.02 Diluted (loss) income per share $ (0.05 ) $ 0.02 Anti-dilutive common stock equivalents excluded in computing diluted earnings per share 9 134 Stock Repurchase Program – Our Board of Directors has approved a stock repurchase program authorizing SMI to repurchase up to an aggregate of 5,000,000 5), may may During the three March 31, 2017, 62,000 $1,301,000. March 31, 2017, 380,000 three March 31, 2017, 31,000 $597,000 64,000 March 31, 2017, 303,000 Declaration of Cash Dividends – On February 15, 2017, $0.15 $6,241,000, March 17, 2017 March 1, 2017 . On April 19, 2017, $0.15 $6.2 June 5, 2017 May 15, 2017. These quarterly cash dividends are being paid using available cash and cash equivalents on hand.

Note 7 - Related Party Transact

Note 7 - Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	7. 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. For the three March 31, 2017 2016, $204,000 $217,000 mounts due from or payable to Sonic Financial at March 31, 2017 December 31, 2016 The Company and certain SMI subsidiaries lease office and warehouse facilities from companies affiliated through common owners hip by our Executive Chairman and Chief Executive Officer under annually renewable lease agreements. Rent expense amounted to $181,000 $182,000 three March 31, 2017 2016. March 31, 2017 December 31, 2016 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 our Executive Chairman is a con trolling stockholder, for an aggregate of $127,000 $39,000 three March 31, 2017 2016. no three March 31, 2017 2016. $287,000 $282,000 three March 31, 2017 2016. March 31, 2017 December 31, 2016, $141,000 $84,000 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 $564,000 $586,000 three March 31, 2017 2016. March 31, 2017 December 31, 2016, $210,000 $194,000 The foregoing related party balances as of March 31, 2017 December 31, 2016 three March 31, 2017 2016 2017 2016 Accounts receivable $ 351 $ 278 Merchandise and vehicle purchases 127 39 Shared services expense 204 217 Merchandise sales 851 868 Rent expense 181 182

Note 8 - Legal Proceedings and

Note 8 - Legal Proceedings and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. From time to time, we are party to routine litigation incidental to our business. We believe that the resolution of any or all of such litigation will not have a material effect on our financial condition, results of operations or cash flows.

Note 9 - Stock Compensation Pla

Note 9 - Stock Compensation Plans	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. See Note 11 2016 on and terms of the Company’s stock compensation plans. 2013 April 19, 2017 – February 2017, 2013 April 19, 2017 2017 served for issuance or any of the award limits under the 2013 may The Compensation Committee of the Company’s Board of Directors approved grants of 35,000 35,000 three March 31, 2017 2016. three The following is a summary of restricted stock and restricted stock units granted, vested and forfeited under the Stock Incentive Compensation Plan for the indicated periods (shares in thousands): Three Months Ended March 31: 2017 2016 Restricted Stock Restricted Stock Units Restricted Stock Restricted Stock Units Outstanding, beginning of period 68 129 67 132 Granted 35 35 35 35 Vested (32 ) (32 ) (32 ) (32 ) Forfeited (5 ) (5 ) (2 ) (6 ) Outstanding, end of period 66 127 68 129 In each of the three March 31, 2017 2016, 31,000 $597,000 $588,000, 64,000 period. 2008 April 17, 2012 – 3,893 four April 2017. 15,976 April 2016 April 2017, 12,816 April 2015 April 2016. Share-Based Payments –There were no significant changes in the characteristics of restricted stock or restricted stock units granted in 2017 2016 No three March 31, 2017 2016. Share-based compensation cost for the three March 31, 2017 2016 $809,000 $867,000, 299,000 $325,000, no March 31, 2017 December 31, 2016. March 31, 2017, $4,561,000 2013 2008 1.1 March 31, 2017, no

Note 10 - Segment Disclosures

Note 10 - Segment Disclosures	3 Months Ended
	Mar. 31, 2017
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 activitie s, including those of our subsidiaries, are further described in Notes 1 2 2016 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, income 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 March 31: 2017 2016 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 75,098 $ 5,227 $ 80,325 $ 77,276 $ 5,900 $ 83,176 Depreciation and amortization 17,467 38 17,505 13,328 43 13,371 Segment operating (loss) income (1,525 ) 1,102 (423 ) 3,381 1,403 4,784 Capital expenditures 7,049 5 7,054 18,329 26 18,355 March 31, 2017 December 31, 2016 Other intangibles $ 298,383 – $ 298,383 $ 298,383 – $ 298,383 Goodwill 47,342 – 47,342 47,342 – 47,342 Total assets 1,479,228 $ 24,180 1,503,408 1,474,127 $ 24,022 1,498,149 The following table reconciles segment operating income or loss above to consolidated income or loss before income taxes (in thousands): Three Months Ended March 31: 2017 2016 Total segment operating (loss) income $ (423 ) $ 4,784 Adjusted for: Interest expense, net (3,005 ) (3,339 ) Other expense, net (578 ) (68 ) Consolidated (loss) income before income taxes $ (4,006 ) $ 1,377

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Quarterly Reporting [Policy Text Block]	Quarterly Reporting There were no significant racing schedule changes for the three March 31, 2017 2016.
Cash and Cash Equivalents, Policy [Policy Text Block]	Consolidated Statements of Cash Flows – Before December 31, 2016, third $90,000 three March 31, 2016.
Income Tax, Policy [Policy Text Block]	Income Tax es may See Notes 2 8 the Consolidated Financial Statements in our 2016 The effective income tax rate for the three March 31, 2017 2016 51.7% 37.5%, 2017 $1,310,000 certain state net operating loss carryforwards of $515,000. e paid cash of $0 $200,000 three March 31, 2017 2016. Accounting for Uncertainty in Income Taxes – Income tax liabilities for unrecognized tax benefits approximate $12,006,000 March 31, 2017 December 31, 2016, $11,746,000 1 2016 $11,794,000 , $212,000 March 31, 2017 December 31, 2016. March 31, 2017 December 31, 2016, $260,000 twelve three March 31, 2017 2016. As of March 31, 2017 December 31, 2016, $145,000 $140,000 2006 2008, 2012 2016, 2013 2016 2013 2016 2012 2016 2014 July 2016. Income Tax Benefit From Equity Interest Abandonment January 31, 2014, 50% may $0 2010 $48.1 December 31, 2013 2014 March 31, 2017 W e believe it is more likely than not that our filing position would be sustained based on its technical merits upon examination with taxing authorities that have full knowledge of all relevant information. We reached this conclusion based on the use of outside legal counsel and other tax consultants and the potential to utilize tax losses. We believe we will fully utilize the associated tax losses. Should our tax position not be fully sustained upon examination, reestablishment of material income tax liabilities and acceleration of cash income taxes payable could occur. Any differences between the final tax outcome and amounts recorded would affect our income tax provision in the period in which such determination was made. Other Income Tax Benefits – Applicable accounting guidance may March 31, 2017, $12.0
Taxes Collected from Customers [Policy Text Block]	Taxes Collected from Customers – The Company reports sales, admission and other taxes collected from customers on both a gross and net basis in operations. Such taxes reported on a gross basis for the three March 31, 2017 2016 $411,000 $366,000.
Advertising Costs, Policy [Policy Text Block]	Advertising Expenses – Event specific advertising costs are expensed when an associated event is held and included principally in direct expense of events. Non-event related advertising costs are expensed as incurred and included principally in other direct operating expense. Advertising expense amounted to $1,604,000 $1,927,000 three March 31, 2017 2016. no March 31, 2017 December 31, 2016.
TMS Mineral Rights Lease Receipts, Policy [Policy Text Block]	TMS Mineral Rights Lease Receipts – We recognized royalty revenue of $448,000 $627,000 three March 31, 2017 2016 2 2016 25% 2017, 2017 2016, As of March 31, 2017 December 31, 2016,
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments – We follow applicable authoritative guidance which requires that financial and non-financial assets and liabilities measured and reported on a fair value basis be classified, disclosed and categorized as further described below. Fair value estimates are based on relevant market information and single broker quoted market prices where available at a specific point in time, and changes in assumptions or market conditions could significantly affect estimates. The carrying values of cash and cash equivalents, accounts receivable, certain other assets and accounts payable approximate fair value because of the short maturity of these financial instruments. Cash surrender values are carried at fair value based on binding broker quoted market prices. Notes receivable and bank revolving credit facility and term loan borrowings are variable interest rate financial instruments and, therefore, carrying values approximate fair value. The fixed rate senior notes payable are publicly traded and estimated fair values are based on single broker quoted market prices. Other long-term debt bears interest approximating market rates or where non-interest bearing is discounted based on estimated current cost of borrowings; therefore, carrying values approximate market value. There have been no changes or transfers between category levels or classes. The following table presents estimated fair values and categorization levels of our financial instruments as of March 31, 2017 December 31, 2016 2017 2016 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 53,585 $ 53,585 $ 79,342 $ 79,342 Notes receivable 2 NR 1,102 1,102 1,143 1,143 Cash surrender values 2 NR 9,174 9,174 8,919 8,919 Liabilities (principal) Floating rate revolving Credit Facility, including Term Loan 2 NR 63,000 63,000 66,000 66,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 202,000 200,000 202,500 Other long-term debt 2 NR 1,049 1,049 1,206 1,206 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.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment – From time to time, we may first 2017, 7,000 17,000 12,000 first 2017. $4,597,000 , before income tax benefits of $1,700,000, first 2017. 10).
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Standards – The Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014 09 606): 340 40)" 2016 08 606) 2014 09, 2016 10 606) 2014 09 2015 14 2014 09 one December 15, 2017, December 15, 2016, may first 2018. may The FASB issued Accounting Standards Update No. 2015 11 330): 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, January 1, 2017 . The FASB issued Accounting Standards Update No. 2016 02 Leases (Subtopic 842)” may December 15, 2018, may The FASB issued Accounting Standards Update No. 2016 15 Statement of Cash Flows (Topic 23) eight December 15, 2017, The FASB issued Accounting Standards Update No. 2017 04 Intangibles – Goodwill and Other (Topic 350): 2 December 15, 2019, January 1, 2017. may second

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies and Other Disclosures (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	2017 2016 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 53,585 $ 53,585 $ 79,342 $ 79,342 Notes receivable 2 NR 1,102 1,102 1,143 1,143 Cash surrender values 2 NR 9,174 9,174 8,919 8,919 Liabilities (principal) Floating rate revolving Credit Facility, including Term Loan 2 NR 63,000 63,000 66,000 66,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 202,000 200,000 202,500 Other long-term debt 2 NR 1,049 1,049 1,206 1,206

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2017 2016 Finished race cars, parts and accessories $ 5,085 $ 5,263 Souvenirs and apparel 2,687 2,131 Micro-lubricant ® 777 818 Total $ 8,549 $ 8,212

Note 4 - Goodwill and Other I21

Note 4 - Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Finite Lived and Indefinite Lived Intangible Assets [Table Text Block]	March 31, 2017 December 31, 2016 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 $ (100 ) — 100 $ (100 ) — 5 - 6 Total $ 298,483 $ (100 ) $ 298,383 $ 298,483 $ (100 ) $ 298,383

Note 5 - Long-term Debt (Tables

Note 5 - Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended March 31: 2017 2016 Gross interest costs $ 3,308 $ 3,564 Less: capitalized interest costs (55 ) (182 ) Interest expense 3,253 3,382 Interest income (248 ) (43 ) Interest expense, net $ 3,005 $ 3,339 Weighted-average interest rate on Credit Facility borrowings 2.1 % 1.9 %

Note 6 - Per Share and Other 23

Note 6 - Per Share and Other Equity Information (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31: 2017 2016 Net (loss) income applicable to common stockholders and assumed conversions $ (1,935 ) $ 861 Weighted average common shares outstanding 41,087 41,227 Dilution effect of assumed conversions: Common stock equivalents —stock awards 21 17 Weighted average common shares outstanding and assumed conversions 41,108 41,244 Basic (loss) income per share $ (0.05 ) $ 0.02 Diluted (loss) income per share $ (0.05 ) $ 0.02 Anti-dilutive common stock equivalents excluded in computing diluted earnings per share 9 134

Note 7 - Related Party Transa24

Note 7 - Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	2017 2016 Accounts receivable $ 351 $ 278 Merchandise and vehicle purchases 127 39 Shared services expense 204 217 Merchandise sales 851 868 Rent expense 181 182

Note 9 - Stock Compensation P25

Note 9 - Stock Compensation Plans (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Three Months Ended March 31: 2017 2016 Restricted Stock Restricted Stock Units Restricted Stock Restricted Stock Units Outstanding, beginning of period 68 129 67 132 Granted 35 35 35 35 Vested (32 ) (32 ) (32 ) (32 ) Forfeited (5 ) (5 ) (2 ) (6 ) Outstanding, end of period 66 127 68 129

Note 10 - Segment Disclosures (

Note 10 - Segment Disclosures (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31: 2017 2016 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 75,098 $ 5,227 $ 80,325 $ 77,276 $ 5,900 $ 83,176 Depreciation and amortization 17,467 38 17,505 13,328 43 13,371 Segment operating (loss) income (1,525 ) 1,102 (423 ) 3,381 1,403 4,784 Capital expenditures 7,049 5 7,054 18,329 26 18,355
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended March 31: 2017 2016 Total segment operating (loss) income $ (423 ) $ 4,784 Adjusted for: Interest expense, net (3,005 ) (3,339 ) Other expense, net (578 ) (68 ) Consolidated (loss) income before income taxes $ (4,006 ) $ 1,377
Other Intangibles and Good will [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	March 31, 2017 December 31, 2016 Other intangibles $ 298,383 – $ 298,383 $ 298,383 – $ 298,383 Goodwill 47,342 – 47,342 47,342 – 47,342 Total assets 1,479,228 $ 24,180 1,503,408 1,474,127 $ 24,022 1,498,149

Note 1 - Description of Busin27

Note 1 - Description of Business (Details Textual)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
NASCAR [Member]
Number of Racing Events	24	24
NASCAR [Member] | Monster Energy Cup [Member]
Number of Racing Events	13	13
NASCAR [Member] | Xfinity Series Events [Member]
Number of Racing Events	11	11
NASCAR [Member] | Camping World Trucks Series Events [Member]
Number of Racing Events	8	8
NASCAR [Member] | K and N Pro Series Events [Member]
Number of Racing Events	3	3
NASCAR [Member] | Whelen Modified Tour [Member]
Number of Racing Events	4	4
Indy Car Series [Member]
Number of Racing Events	2	2
National Hot Rod Association [Member]
Number of Racing Events	6	6
Automobile Racing Club of America [Member]
Number of Racing Events	1	1
World of Outlaws [Member]
Number of Racing Events	3	3

Note 2 - Significant Accounti28

Note 2 - Significant Accounting Policies and Other Disclosures (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2016USD ($)	Jan. 31, 2014USD ($)
Net Cash Provided by (Used in) Operating Activities	$ (7,770,000)	$ 25,731,000
Effective Income Tax Rate Reconciliation, Percent	51.70%	37.50%
Deferred Tax Liabilities, Net	$ 1,310,000
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	515,000
Income Taxes Paid	0	$ 200,000
Unrecognized Tax Benefits	12,006,000			$ 12,006,000
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	260,000			260,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	145,000			140,000
Income Tax Expense (Benefit)	(2,071,000)	516,000	$ 48,100,000
Excise and Sales Taxes	411,000	366,000
Advertising Expense	1,604,000	1,927,000
Accelerated Depreciation and Removal Costs, Before Tax	4,597,000
Income Tax Expense (Benefit), Accelerated Depreciation and Removal Costs	(1,700,000)
Increase (Decrease) in Accounts Payable	92,000	681,000
Deferred Advertising Costs	0			0
Texas Motor Speedway Inc. [Member]
Royalty Revenue	$ 448,000	627,000
Royalty Revenue, Distribution, Percentage	25.00%
Charlotte Motor Speedway LLC [Member]
Number of Seats Removed	7,000
Kentucky Speedway [Member]
Number of Seats Removed	17,000
New Hampshire Motor Speedway, Inc. [Member]
Number of Seats Removed	12,000
Motorsports Authentics [Member]
Equity Method Investment, Ownership Percentage					50.00%
Equity Method Investments					$ 0
Other Noncurrent Liabilities [Member]
Unrecognized Tax Benefits	$ 11,794,000			11,794,000
Deferred Tax Liabilities [Member]
Unrecognized Tax Benefits	212,000			212,000
Discontinued Operations [Member]
Unrecognized Tax Benefits	$ 11,746,000			$ 11,746,000
Restatement Adjustment [Member]
Net Cash Provided by (Used in) Operating Activities		90,000
Increase (Decrease) in Accounts Payable		$ 90,000

Note 2 - Significant Accounti29

Note 2 - Significant Accounting Policies and Other Disclosures - Estimated Fair Values and Categorization Levels of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 53,585	$ 79,342	$ 79,273	$ 82,010
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	53,585	79,342
Notes receivable	1,102	1,143
Cash surrender values	9,174	8,919
Floating rate revolving Credit Facility, including Term Loan	63,000	66,000
5.125% Senior Notes Payable due 2023	200,000	200,000
Other long-term debt	1,049	1,206
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	53,585	79,342
Notes receivable	1,102	1,143
Cash surrender values	9,174	8,919
Floating rate revolving Credit Facility, including Term Loan	63,000	66,000
5.125% Senior Notes Payable due 2023	202,000	202,500
Other long-term debt	$ 1,049	$ 1,206

Note 2 - Significant Accounti30

Note 2 - Significant Accounting Policies and Other Disclosures - Estimated Fair Values and Categorization Levels of Financial Instruments (Details) (Parentheticals)	Dec. 31, 2016
Debt Instrument, Interest Rate, Stated Percentage	5.125%

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventories Components (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventories, net	$ 8,549	$ 8,212
Finished Vehicles Parts and Accessories [Member]
Inventories, net	5,085	5,263
Souvenirs and Apparel [Member]
Inventories, net	2,687	2,131
Micro Lubricant and Other [Member]
Inventories, net	$ 777	$ 818

Note 4 - Goodwill and Other I32

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Goodwill, Impaired, Accumulated Impairment Loss	$ 148,600,000	$ 148,600,000
Other Intangible Assets, Impaired, Accumulated Impairment Loss	99,900,000	99,900,000
Unrecognized [Member]
Goodwill, Impairment Loss	0
Nonamortizable Race Event Sanctioning and Renewal Agreements [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	298,383,000	298,383,000
NHMS and TMS [Member] | Nonamortizable Race Event Sanctioning and Renewal Agreements [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 199,600,000	$ 98,800,000

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	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Amortizable race event sanctioning and renewal agreements	$ (100)	$ (100)
Total	298,483	298,483
Other intangibles	298,383	298,383
Amortizable Race Event Sanctioning and Renewal Agreements [Member]
Amortizable race event sanctioning and renewal agreements	100	100
Amortizable race event sanctioning and renewal agreements	$ (100)	(100)
Amortizable Race Event Sanctioning and Renewal Agreements [Member] | Minimum [Member]
Amortizable race event sanctioning and renewal agreements (Year)	5 years
Amortizable Race Event Sanctioning and Renewal Agreements [Member] | Maximum [Member]
Amortizable race event sanctioning and renewal agreements (Year)	6 years
Nonamortizable Race Event Sanctioning and Renewal Agreements [Member]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 298,383	$ 298,383

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual)	3 Months Ended		15 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jan. 31, 2015USD ($)
Debt Instrument, Interest Rate, Stated Percentage				5.125%
Debt Issuance Costs, Net	$ 4,847,000		$ 4,847,000	$ 5,151,000
Eurodollar [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
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%
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%
Revolving Credit Facility [Member]
Letters of Credit Outstanding, Amount	$ 605,000		605,000	605,000
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 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] | Term Loan [Member]
Debt Instrument Quarterly Principal Repayment Percentage	5.00%
Debt Instrument, Periodic Payment, Principal	$ 7,500,000
Repayments of Debt	3,000,000	$ 2,000,000
Long-term Debt	63,000,000		63,000,000	$ 66,000,000
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] | Senior Secured Revolving Credit Facility [Member]
Debt Instrument, Term	5 years
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]
Debt Instrument, Term	5 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000,000		50,000,000
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 2019 Senior Notes [Member] | Delayed Draw Term Loan [Member]
Line of Credit Facility, Remaining Borrowing Capacity	$ 50,000,000		$ 50,000,000
The 2023 Senior Notes [Member]
Debt Instrument, Face Amount					$ 200,000,000
Debt Instrument, Interest Rate, Stated Percentage					5.125%
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	$ 1,049,000		$ 1,049,000	$ 1,206,000
Debt Instrument, Number of Periodic Payments			8
Debt Instrument, Periodic Payment			$ 194,000

Note 5 - Long-term Debt - Inter

Note 5 - Long-term Debt - Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Gross interest costs	$ 3,308	$ 3,564
Less: capitalized interest costs	(55)	(182)
Interest expense	3,253	3,382
Interest income	(248)	(43)
Interest expense, net	$ 3,005	$ 3,339
Weighted-average interest rate on Credit Facility borrowings	2.10%	1.90%

Note 6 - Per Share and Other 36

Note 6 - Per Share and Other Equity Information (Details Textual) - USD ($)	Apr. 19, 2017	Feb. 15, 2017	Mar. 31, 2017	Mar. 31, 2016
Treasury Stock, Value, Acquired, Cost Method			$ 1,899,000
Treasury Stock, Shares Held for Tax Withholding for Share-based Compensation			303,000
Common Stock, Dividends, Per Share, Declared		$ 0.15
Dividends Payable, Current		$ 6,241,000
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.15
Dividends Payable, Current	$ 6,200,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			32,000	32,000
Management [Member]
Treasury Stock, Shares, Acquired			31,000
Treasury Stock, Value, Acquired, Cost Method			$ 597,000
Management [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			64,000
Stock Repurchase Program [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased			5,000,000
Treasury Stock, Shares, Acquired			62,000
Treasury Stock, Value, Acquired, Cost Method			$ 1,301,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased			380,000

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
	Mar. 31, 2017	Mar. 31, 2016
Net (loss) income applicable to common stockholders and assumed conversions	$ (1,935)	$ 861
Weighted Average Shares Outstanding (in shares)	41,087	41,227
Common stock equivalents—stock awards (in shares)	21	17
Weighted Average Shares Outstanding (in shares)	41,108	41,244
Basic (loss) income per share (in dollars per share)	$ (0.05)	$ 0.02
Diluted (loss) income per share (in dollars per share)	$ (0.05)	$ 0.02
Anti-dilutive common stock equivalents excluded in computing diluted earnings per share (in shares)	9	134

Note 7 - Related Party Transa38

Note 7 - Related Party Transactions (Details Textual)	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Related Party Transaction, Expenses from Transactions with Related Party	$ 204,000	$ 217,000
Related Party Transaction, Purchases from Related Party	127,000	39,000
Revenue from Related Parties	851,000	868,000
Affiliated Entity [Member]
Operating Leases, Rent Expense	181,000	182,000
Sonic Automotive Inc. [Member]
Related Party Transaction, Purchases from Related Party	$ 127,000	$ 39,000
Number of Vehicles Sold	0	0
Sonic Automotive Inc. [Member] | SMI Properties [Member]
Revenue from Related Parties	$ 287,000	$ 282,000
Sonic Automotive Inc. [Member] | Oil Chem [Member]
Revenue from Related Parties	564,000	$ 586,000
Sonic Financial [Member]
Due from Affiliates	141,000		$ 84,000
Sonic Financial [Member] | Oil Chem [Member]
Due from Related Parties	$ 210,000		$ 194,000

Note 7 - Related Party Transa39

Note 7 - Related Party Transactions - Foregoing Related Party Balances and Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Accounts receivable	$ 351,000		$ 278,000
Related Party Transaction, Purchases from Related Party	127,000	$ 39,000
Related Party Transaction, Expenses from Transactions with Related Party	204,000	217,000
Revenue from Related Parties	851,000	868,000
Rent expense	$ 181,000	$ 182,000

Note 9 - Stock Compensation P40

Note 9 - Stock Compensation Plans (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		12 Months Ended
	Apr. 27, 2017	Apr. 30, 2016	Apr. 30, 2015	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allocated Share-based Compensation Expense				$ 809,000	$ 867,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				0	0
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount				$ 0		$ 0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options				0
General and Administrative Expense [Member]
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense				$ 299,000	$ 325,000
Incentive Compensation Plan [Member] | Management [Member]
Stock Repurchased During Period, Shares				31,000	31,000
Stock Repurchased During Period, Value				$ 597,000	$ 588,000
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings				64,000	64,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				35,000	35,000
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, Award Vesting Period				3 years
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] | Vice Chairman and Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				3 years
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 [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
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		15,976	12,816
Restricted Stock [Member] | The 2008 Formula Restricted Stock Plan [Member] | Non Employee Directors [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	3,893
Restricted Stock and Restricted Stock Units [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options				$ 4,561,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				1 year 36 days

Note 9 - Stock Compensation P41

Note 9 - Stock Compensation Plans - Summary of Restricted Stock and Restricted Stock Units (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restricted Stock [Member]
Outstanding, beginning of period (in shares)	68	67
Granted (in shares)	35	35
Vested (in shares)	(32)	(32)
Forfeited (in shares)	(5)	(2)
Outstanding, end of period (in shares)	66	68
Restricted Stock Units (RSUs) [Member]
Outstanding, beginning of period (in shares)	129	132
Granted (in shares)	35	35
Vested (in shares)	(32)	(32)
Forfeited (in shares)	(5)	(6)
Outstanding, end of period (in shares)	127	129

Note 10 - Segment Disclosures -

Note 10 - Segment Disclosures - Segment Information on Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues	$ 80,325	$ 83,176
Depreciation and amortization	17,505	13,371
Segment operating (loss) income	(423)	4,784
Capital expenditures	7,054	18,355
Motorsports Event Segment [Member]
Revenues	75,098	77,276
Depreciation and amortization	17,467	13,328
Segment operating (loss) income	(1,525)	3,381
Capital expenditures	7,049	18,329
Other Segments [Member]
Revenues	5,227	5,900
Depreciation and amortization	38	43
Segment operating (loss) income	1,102	1,403
Capital expenditures	$ 5	$ 26

Note 10 - Segment Disclosures43

Note 10 - Segment Disclosures - Summary of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Other intangibles	$ 298,383	$ 298,383
Goodwill	47,342	47,342
Total assets	1,503,408	1,498,149
Motorsports Event Segment [Member]
Other intangibles	298,383	298,383
Goodwill	47,342	47,342
Total assets	1,479,228	1,474,127
Other Segments [Member]
Other intangibles
Goodwill
Total assets	$ 24,180	$ 24,022

Note 10 - Segment Disclosures44

Note 10 - Segment Disclosures - Reconciliation of Segment Operating Income or Loss to Consolidated Amounts (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment operating (loss) income	$ (423)	$ 4,784
us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedAbstract
Interest expense, net	(3,005)	(3,339)
Other expense, net	(578)	(68)
(Loss) Income Before Income Taxes	$ (4,006)	$ 1,377