Speedway Motorsports (TRK) 10-Q 26 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 26, 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)		40,967,616
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 85,827	$ 79,342
Accounts receivable, net	34,066	29,444
Prepaid and refundable income taxes	209	7,384
Inventories, net	7,529	8,212
Prepaid expenses	2,887	3,527
Total Current Assets	130,518	127,909
Note Receivable	1,018	1,143
Other Assets	23,484	23,142
Property and Equipment, Net (Note 2)	974,179	1,000,230
Other Intangible Assets, Net	298,383	298,383
Goodwill	46,225	47,342
Total	1,473,807	1,498,149
Current Liabilities:
Current maturities of long-term debt	7,662	7,657
Accounts payable	16,733	13,497
Deferred race event and other income, net	34,184	44,782
Accrued income taxes	5,432
Accrued interest	1,734	4,311
Accrued expenses and other current liabilities	26,428	24,424
Total Current Liabilities	92,173	94,671
Long-term Debt	224,148	254,398
Deferred Income	3,223	3,742
Deferred Income Taxes, Net	322,981	329,398
Other Liabilities	18,801	18,157
Total Liabilities	661,326	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 – 40,985,000 in 2017 and 41,098,000 in 2016	460	459
Additional Paid-in Capital	261,894	258,880
Retained Earnings	660,339	644,308
Treasury Stock at cost, shares – 5,051,000 in 2017 and 4,830,000 in 2016	(110,212)	(105,864)
Total Stockholders’ Equity	812,481	797,783
Total	$ 1,473,807	$ 1,498,149

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 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)	40,985,000	41,098,000
Common Stock, shares outstanding (in shares)	40,985,000	41,098,000
Treasury Stock at cost, shares (in shares)	5,051,000	4,830,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Admissions	$ 27,641	$ 29,698	$ 71,532	$ 74,771
Event related revenue	34,452	37,226	103,491	108,295
NASCAR broadcasting revenue	68,847	65,839	200,073	192,453
Other operating revenue	6,668	37,898	22,090	54,006
Total Revenues	137,608	170,661	397,186	429,525
Expenses and Other:
Direct expense of events	32,732	36,576	78,420	84,366
NASCAR event management fees	43,338	41,087	120,548	115,863
Other direct operating expense	4,363	28,996	14,534	39,540
General and administrative	25,793	27,205	75,323	78,591
Depreciation and amortization	13,834	14,016	44,808	40,957
Interest expense, net	3,054	3,290	9,222	9,920
Other (income) expense, net	(157)	(941)	45	(886)
Total Expenses and Other	122,957	150,229	344,017	368,351
Income Before Income Taxes	14,651	20,432	53,169	61,174
Provision for Income Taxes	(5,440)	(6,766)	(18,587)	(21,900)
Net Income	$ 9,211	$ 13,666	$ 34,582	$ 39,274
Basic Earnings Per Share (in dollars per share)	$ 0.22	$ 0.33	$ 0.84	$ 0.95
Weighted Average Shares Outstanding (in shares)	41,004	41,123	41,046	41,178
Diluted Earnings Per Share (in dollars per share)	$ 0.22	$ 0.33	$ 0.84	$ 0.95
Weighted Average Shares Outstanding (in shares)	41,022	41,135	41,062	41,191
Impairment of goodwill (Note 4)			$ 1,117

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 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 income			34,582		34,582
Share-based compensation (in shares)	76
Share-based compensation	$ 1	2,532			2,533
Exercise of stock options (in shares)	31
Exercise of stock options		482			482
Quarterly cash dividends of $0.15 per share of common stock			(18,551)		(18,551)
Repurchases of common stock (in shares)	(220)
Repurchases of common stock				(4,348)	(4,348)
Balance (in shares) at Sep. 30, 2017	40,985
Balance at Sep. 30, 2017	$ 460	$ 261,894	$ 660,339	$ (110,212)	$ 812,481

Consolidated Statement of Stoc6

Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 34,582	$ 39,274
Adjustments to reconcile net income to net cash provided by operating activities:
Impairment of goodwill	1,117
Deferred loan cost amortization	1,155	1,130
Net gain on disposals of property and equipment and insurance recovery	(308)	(1,339)
Depreciation and amortization	44,808	40,957
Amortization of deferred income	(700)	(732)
Deferred income tax provision	(6,265)	21,899
Share-based compensation	2,533	2,560
Changes in operating assets and liabilities:
Accounts receivable	(4,902)	2,924
Prepaid, refundable and accrued income taxes	11,572	(1,240)
Inventories	683	297
Prepaid expenses	1,162	1,516
Accounts payable	3,762	21,437
Deferred race event and other income	(10,606)	(21,016)
Accrued interest	(2,577)	(2,552)
Accrued expenses and other liabilities	2,510	2,990
Deferred income	189	90
Other assets and liabilities	(128)	(283)
Net Cash Provided By Operating Activities	78,587	107,912
Cash Flows from Financing Activities:
Principal payments on long-term debt	(31,157)	(52,177)
Exercise of common stock options	482
Dividend payments on common stock	(18,551)	(18,599)
Repurchases of common stock	(4,348)	(4,037)
Net Cash Used By Financing Activities	(53,574)	(74,813)
Cash Flows from Investing Activities:
Payments for capital expenditures	(21,960)	(33,440)
Proceeds from sales of property and equipment and insurance recovery	3,027	520
Repayment of note receivable	405	119
Net Cash Used By Investing Activities	(18,528)	(32,801)
Net Increase in Cash and Cash Equivalents	6,485	298
Cash and Cash Equivalents at Beginning of Period	79,342	82,010
Cash and Cash Equivalents at End of Period	85,827	82,308
Supplemental Cash Flow Information:
Cash paid for interest, net of amounts capitalized	12,220	12,620
Supplemental Non-Cash Investing and Financing Activities Information:
(Decrease) increase in accounts payable for capital expenditures	$ (526)	$ 1,065

Note 1 - Description of Busines

Note 1 - Description of Business	9 Months Ended
	Sep. 30, 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 or SMIP), 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 no 1 2 2016 10 2016 In early 2017, Racing Events – In 2017, 24 13 11 eight three four two six one three 2016, 24 13 11 eight three four two six one three

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies and Other Disclosures	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. These unaudited consolidated financial statements should be read in conjunction with our consolidated financial statements included in our 2016 not may 2 2016 Quarterly Reporting and Certain Schedule Changes – We recognize revenues and operating expenses for all events in the calendar quarter in which conducted. Changes in race schedules at our speedways from time to time, including speedway acquisitions, can lessen the comparability of operating results between quarterly financial statements of successive years and increase or decrease the seasonal nature of our motorsports business. Racing Schedule Changes. The more significant racing schedule changes for the three nine September 30, 2017 2016 • LVMS held one NASCAR Camping World Truck Series race in the third 2017 fourth 2016 • Poor weather resulted in delaying the start of one one third 2017 • Poor weather resulted in postponing and next-day rescheduling one one second 2017 • Poor weather resulted in delaying the completion of one second 2017 • TMS held one second 2017; second 2016 third 2016 Poor weather resulted in postponing and rescheduling an IndyCar race at TMS from the second 2016 third 2016. April 2017 June 2017. June 2017, not 2017 not December 31, 2016, $524,000 2016 second 2017. The Battle at Bristol in 2016. third 2016, two one third 2016. three nine September 30, 2016, 10 not not Income Taxes – We provide for income taxes at the end of each interim period based on management’s best estimate of the annual estimated effective income tax rate. Cumulative adjustments to our annual estimated effective income tax rate are recorded in the interim period in which a change in the annual estimated effective income tax rate is determined. Cash paid for income taxes excludes any previous overpayments the Company may no 2 8 2016 Our effective income tax rate for the three September 30, 2017 2016 37.1% 33.1%, nine September 30, 2017 2016 35.0% 35.8%, nine September 30, 2017 $1,791,000 nine September 30, 2017 $515,000. three nine September 30, 2016 $507,000 $12,855,000 $650,000 nine September 30, 2017 2016. Accounting for Uncertainty in Income Taxes – Income tax liabilities for unrecognized tax benefits approximate $12,006,000 September 30, 2017 December 31, 2016, $11,746,000 1 2016 $11,794,000 , $212,000 September 30, 2017 December 31, 2016. September 30, 2017 December 31, 2016, $260,000 twelve three nine September 30, 2017 2016. September 30, 2017 December 31, 2016, $216,000 $140,000 2014 2016 2012 2016 Income Tax Benefits – Applicable accounting guidance may September 30, 2017, $12.0 not no not 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 September 30, 2017 2016 $1,386,000 $3,610,000, nine September 30, 2017 2016 $4,115,000 $6,427,000. Advertising Expenses – Event specific advertising costs are expensed when an associated event is held and included principally in direct expense of events (costs associated with the 2016 $3,831,000 $5,724 ,000 three September 30, 2017 2016, $10,854,000 $13,306 ,000 nine September 30, 2017 2016. no September 30, 2017 December 31, 2016. TMS Mineral Rights Lease Receipts $508,000 $615,000 three September 30, 2017 2016, $1,486,000 $1,666,000 nine September 30, 2017 2016 2 2016 25% 2017, 2017 not 2016, September 30, 2017 December 31, 2016, no 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 September 30, 2017 December 31, 2016 ( 2017 2016 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 85,82 7 $ 85,82 7 $ 79,342 $ 79,342 Notes receivable 2 NR 1,018 1,018 1,143 1,143 Cash surrender values 2 NR 9,5 87 9,5 87 8,919 8,919 Liabilities (principal) Floating rate revolving Credit Facility, including Term Loan 2 NR 35,000 35,000 66,000 66,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 206,500 200,000 202,500 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 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 – In the three nine September 30, 2017, $403,000 $855,000 three nine September 30, 2016, $357,000 $1,519,000 From time to time, we may areas at our speedways for modernizing our facilities, alternative marketing or development purposes such as offering expanded premium hospitality, RV camping and advertising areas, or wider seating and improved sight lines. When management decides on repurpose and removal, depreciation is accelerated and recorded prospectively over shortened estimated remaining useful lives of the assets, and accounted for as a change in estimate, beginning when management contracts and begins removal. In the first 2017, 7,000 17,000 12,000 first 2017. $4,597,000, $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 No. 2016 08 606 No. 2014 09, No. 2016 10 606 No. 2014 09 No. 2015 14 No. 2014 09 one December 15, 2017, December 15, 2016, may may five January 1, 2018 not The FASB issued Accounting Standards Update No. 2015 11 330 not December 15, 2016, ’s adoption of this guidance as of January 1, 2017 no The FASB issued Accounting Standards Update No. 2016 02 842 ’s initial direct costs. Lease liabilities will equal the present value of lease payments. Assets will be based on the liability, subject to adjustment, such as for initial direct costs. Operating leases may December 15, 2018, may The FASB issued Accounting Standards Update No. 2016 15 23 eight after December 15, 2017, no The FASB issued Accounting Standards Update No. 2017 04 – Goodwill and Other (Topic 350 2 no December 15, 2019, January 1, 2017. second 2017 4

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. Inventories, net consist of the following components (in thousands): September 30, December 31, 2017 2016 Finished race cars, parts and accessories $ 4,700 $ 5,263 Souvenirs and apparel 2,026 2,131 Micro-lubricant ® and other 803 818 Total $ 7,529 $ 8,212

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. Annual Impairment Assessment – The Company evaluates goodwill and other intangible assets for possible impairment annually in the second may 2 5 2016 not Management's latest annual assessment in the second 2017 ’s approved realignment of one one 2018, 2020 not Our 2017 ’s reporting unit. As of September 30, 2017 December 31, 2016, $199.6 $98.8 2015 2008, 2017 Our 2017 $1,117,000, $419,000, second 2017 $0. 2017 10 There have since been no no September 30, 2017. Other Information – nine September 30, 2017 2016 $149.7 $148.6 September 30, 2017 December 31, 2016, $99.9 September 30, 2017 December 31, 2016. Changes in the carrying value of other intangible assets and goodwill are as follows (in thousands): Other Intangible Assets Goodwill 2017 2016 2017 2016 Balance, beginning of year $ 298,383 $ 298,394 $ 47,342 $ 47,342 Increase from acquisitions – – – – Decrease from impairment charges – – (1,117 ) – Balance, end of period $ 298,383 $ 298,394 $ 46,225 $ 47,342

Note 5 - Long-term Debt

Note 5 - Long-term Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	5. Bank Credit Facility – 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% We repaid Term Loan borrowings of $5,000,000 $31,000,000 three nine September 30, 2017, $20,000,000 $52,000,000 three nine September 30, 2016 . There were no September 30, 2017 December 31, 2016, $35,000,000 $66,000,000 $573,000 $605,000, September 30, 2017, $99,427,000, $49,427,000 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 September 30, 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 September 30, 2017 December 31, 2016, $4,239,000 $5,151,000. Other General Terms and Conditions 2023 September 30, 2017. 6 2016 Subsidiary Guarantees – 2023 2023 no no Interest Expense, Net – Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Gross interest costs $ 3,217 $ 3,413 $ 9,861 $ 10,520 Less: capitalized interest costs (65 ) (74 ) (218 ) (452 ) Interest expense 3,152 3,339 9,643 10,068 Interest income (98 ) (49 ) (421 ) (148 ) Interest expense, net $ 3,054 $ 3,290 $ 9,222 $ 9,920 Weighted-average interest rate on Credit Facility borrowings 2.5 % 2.0 % 2.3 % 2.0 %

Note 6 - Per Share and Other Eq

Note 6 - Per Share and Other Equity Information	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders Equity and Earnings Per Share [Text Block]	6. The following schedule reconciles basic and diluted 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 September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Net income applicable to common stockholders and assumed conversions $ 9,211 $ 13,666 $ 34,582 $ 39,274 Weighted average common shares outstanding 41,004 41,123 41,046 41,178 Dilution effect of assumed conversions: Common stock equivalents —stock awards 18 12 16 13 Weighted average common shares outstanding and assumed conversions 41,022 41,135 41,062 41,191 Basic earnings per share $ 0.22 $ 0.33 $ 0.84 $ 0.95 Diluted earnings per share $ 0.22 $ 0.33 $ 0.84 $ 0.95 Anti-dilutive common stock equivalents excluded in computing diluted earnings per share 9 152 10 148 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 nine September 30, 2017, 64,000 189,000 $1,304,000 $3,742,000. September 30, 2017, 253,000 nine September 30, 2017, 31,000 $607,000 65,000 September 30, 2017, 304,000 Declaration of Cash Dividends – To date in 2017, Declaration date February 15, 2017 April 19, 2017 July 19, 2017 October 18, 2017 Record date March 1, 2017 May 15, 2017 August 15, 2017 November 1 0, 2017 Paid or payable to shareholders March 17, 2017 June 5, 2017 September 5, 2017 December 1, 2017 Aggregate quarterly cash dividend $6,241 $6,157 $6,1 53 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, 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. The Company incurred expenses of $280,000 each of the three September 30, 2017 2016, $686,000 $729,000 nine September 30, 2017 2016 September 30, 2017 December 31, 2016 not The Company and certain SMI subsidiaries lease office and warehouse facilities from companies affiliated through common ownership by our Executive Chairman and Chief Executive Officer under annually renewable lease agreements. Rent expense amounted to $182,000 $181,000 three September 30, 2017 2016, $544,000 $542,000 nine September 30, 2017 2016. September 30, 2017 December 31, 2016 not 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 and Chief Executive Officer are controlling stockholders, for an aggregate of $28,000 $18,000 three September 30, 2017 2016, $172,000 $123,000 nine September 30, 2017 2016. no three nine September 30, 2017 2016. $203,000 $339,000 three September 30, 2017 2016, $679,000 $794,000 nine September 30, 2017 2016. September 30, 2017 December 31, 2016, $103,000 $84,000 Oil-Chem sold zMAX micro-lubricant ® product to certain SAI dealerships in the ordinary course of business. Total purchases from Oil-Chem by SAI dealerships were $449,000 $535,000 three September 30, 2017 2016, $1,507,000 $1,619,000 nine September 30, 2017 2016. September 30, 2017 December 31, 2016, $191,000 $194,000 The foregoing related party balances as of September 30, 2017 December 31, 2016 three nine September 30, 2017 2016 September 30, 2017 December 31, 2016 Accounts receivable $ 294 $ 278 Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Merchandise and vehicle purchases $ 28 $ 18 $ 172 $ 123 Shared services expense 280 280 686 729 Merchandise sales 652 874 2,186 2,413 Rent expense 182 181 544 542

Note 8 - Legal Proceedings and

Note 8 - Legal Proceedings and Contingencies	9 Months Ended
	Sep. 30, 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

Note 9 - Stock Compensation Pla

Note 9 - Stock Compensation Plans	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. See Note 11 2016 ’s stock compensation plans. 2013 April 19, 2017 – In February 2017, 2013 April 19, 2017 2017 not 2013 may The Compensation Committee of the Company ’s Board of Directors approved grants of 35,000 35,000 nine September 30, 2017 2016. three 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: 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 nine September 30, 2017 2016, 31,000 $597,000 $588,000, 64,000 500 nine September 30, 2017 2016 $9,000 1,500 2008 April 17, 2012 – The Company awarded 3,893 four April 2017. 15,976 April 2016 April 2017, 12,816 April 2015 April 2016. Share-Based Payments – There were no 2017 2016 no no No nine September 30, 2017 2016. 30,500 2004 nine September 30, 2017 $15.83. No nine September 30, 2016. Share-based compensation cost for the three September 30, 2017 2016 $868,000 $852,000, $322,000 $282,000, nine September 30, 2017 2016 $2,533,000 $2,560,000, $887,000 $916,000, no September 30, 2017 December 31, 2016. September 30, 2017, $3,140,000 0.9 September 30, 2017, no

Note 10 - Segment Disclosures

Note 10 - Segment Disclosures	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10. 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 2 2016 2016 two 2 no 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 rel ative to consolidated revenues. The following tables present our segment information (in thousands): Three Months Ended September 30: 2017 2016 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 133,041 $ 4,567 $ 137,608 $ 134,686 $ 35,975 $ 170,661 Depreciation and amortization 13,799 35 13,834 13,976 40 14,016 Segment operating income 16,609 939 17,548 14,938 7,843 22,781 Nine Months Ended September 30: 2017 2016 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 382,283 $ 14,903 $ 397,186 $ 382,656 $ 46,869 $ 429,525 Depreciation and amortization 44,700 108 44,808 40,833 124 40,957 Impairment of goodwill (Note 4) 1,117 – 1,117 – – – Segment operating income 59,037 3,399 62,436 59,715 10,493 70,208 Capital expenditures 21,931 29 21,960 33,387 53 33,440 September 30, 2017 December 31, 2016 Other intangibles $ 298,383 – $ 298,383 $ 298,383 – $ 298,383 Goodwill 46,225 – 46,225 47,342 – 47,342 Total assets 1,449,981 $ 23,826 1,473,807 1,474,127 $ 24,022 1,498,149 The following table reconciles segment operating income above to consolidated income before income taxes for the periods indicated (in thousands): Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Total segment operating income $ 17,548 $ 22,781 $ 62,436 $ 70,208 Adjusted for: Interest expense, net (3,054 ) (3,290 ) (9,222 ) (9,920 ) Other income (expense), net 157 941 (45 ) 886 Consolidated income before income taxes $ 14,651 $ 20,432 $ 53,169 $ 61,174

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Quarterly Reporting [Policy Text Block]	Quarterly Reporting and Certain Schedule Changes – We recognize revenues and operating expenses for all events in the calendar quarter in which conducted. Changes in race schedules at our speedways from time to time, including speedway acquisitions, can lessen the comparability of operating results between quarterly financial statements of successive years and increase or decrease the seasonal nature of our motorsports business. Racing Schedule Changes. The more significant racing schedule changes for the three nine September 30, 2017 2016 • LVMS held one NASCAR Camping World Truck Series race in the third 2017 fourth 2016 • Poor weather resulted in delaying the start of one one third 2017 • Poor weather resulted in postponing and next-day rescheduling one one second 2017 • Poor weather resulted in delaying the completion of one second 2017 • TMS held one second 2017; second 2016 third 2016 Poor weather resulted in postponing and rescheduling an IndyCar race at TMS from the second 2016 third 2016. April 2017 June 2017. June 2017, not 2017 not December 31, 2016, $524,000 2016 second 2017. The Battle at Bristol in 2016. third 2016, two one third 2016. three nine September 30, 2016, 10 not not
Income Tax, Policy [Policy Text Block]	Income Taxes – We provide for income taxes at the end of each interim period based on management’s best estimate of the annual estimated effective income tax rate. Cumulative adjustments to our annual estimated effective income tax rate are recorded in the interim period in which a change in the annual estimated effective income tax rate is determined. Cash paid for income taxes excludes any previous overpayments the Company may no 2 8 2016 Our effective income tax rate for the three September 30, 2017 2016 37.1% 33.1%, nine September 30, 2017 2016 35.0% 35.8%, nine September 30, 2017 $1,791,000 nine September 30, 2017 $515,000. three nine September 30, 2016 $507,000 $12,855,000 $650,000 nine September 30, 2017 2016. Accounting for Uncertainty in Income Taxes – Income tax liabilities for unrecognized tax benefits approximate $12,006,000 September 30, 2017 December 31, 2016, $11,746,000 1 2016 $11,794,000 , $212,000 September 30, 2017 December 31, 2016. September 30, 2017 December 31, 2016, $260,000 twelve three nine September 30, 2017 2016. September 30, 2017 December 31, 2016, $216,000 $140,000 2014 2016 2012 2016 Income Tax Benefits – Applicable accounting guidance may September 30, 2017, $12.0 not no not
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 September 30, 2017 2016 $1,386,000 $3,610,000, nine September 30, 2017 2016 $4,115,000 $6,427,000.
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 (costs associated with the 2016 $3,831,000 $5,724 ,000 three September 30, 2017 2016, $10,854,000 $13,306 ,000 nine September 30, 2017 2016. no September 30, 2017 December 31, 2016.
TMS Mineral Rights Lease Receipts, Policy [Policy Text Block]	TMS Mineral Rights Lease Receipts $508,000 $615,000 three September 30, 2017 2016, $1,486,000 $1,666,000 nine September 30, 2017 2016 2 2016 25% 2017, 2017 not 2016, September 30, 2017 December 31, 2016, no
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 September 30, 2017 December 31, 2016 ( 2017 2016 Level Class Carrying Value Fair Value Carrying Value Fair Value Assets Cash and cash equivalents 1 R $ 85,82 7 $ 85,82 7 $ 79,342 $ 79,342 Notes receivable 2 NR 1,018 1,018 1,143 1,143 Cash surrender values 2 NR 9,5 87 9,5 87 8,919 8,919 Liabilities (principal) Floating rate revolving Credit Facility, including Term Loan 2 NR 35,000 35,000 66,000 66,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 206,500 200,000 202,500 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 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 – In the three nine September 30, 2017, $403,000 $855,000 three nine September 30, 2016, $357,000 $1,519,000 From time to time, we may areas at our speedways for modernizing our facilities, alternative marketing or development purposes such as offering expanded premium hospitality, RV camping and advertising areas, or wider seating and improved sight lines. When management decides on repurpose and removal, depreciation is accelerated and recorded prospectively over shortened estimated remaining useful lives of the assets, and accounted for as a change in estimate, beginning when management contracts and begins removal. In the first 2017, 7,000 17,000 12,000 first 2017. $4,597,000, $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 No. 2016 08 606 No. 2014 09, No. 2016 10 606 No. 2014 09 No. 2015 14 No. 2014 09 one December 15, 2017, December 15, 2016, may may five January 1, 2018 not The FASB issued Accounting Standards Update No. 2015 11 330 not December 15, 2016, ’s adoption of this guidance as of January 1, 2017 no The FASB issued Accounting Standards Update No. 2016 02 842 ’s initial direct costs. Lease liabilities will equal the present value of lease payments. Assets will be based on the liability, subject to adjustment, such as for initial direct costs. Operating leases may December 15, 2018, may The FASB issued Accounting Standards Update No. 2016 15 23 eight after December 15, 2017, no The FASB issued Accounting Standards Update No. 2017 04 – Goodwill and Other (Topic 350 2 no December 15, 2019, January 1, 2017. second 2017 4

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies and Other Disclosures (Tables)	9 Months Ended
	Sep. 30, 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 $ 85,82 7 $ 85,82 7 $ 79,342 $ 79,342 Notes receivable 2 NR 1,018 1,018 1,143 1,143 Cash surrender values 2 NR 9,5 87 9,5 87 8,919 8,919 Liabilities (principal) Floating rate revolving Credit Facility, including Term Loan 2 NR 35,000 35,000 66,000 66,000 5.125% Senior Notes Payable due 2023 2 NR 200,000 206,500 200,000 202,500 Other long-term debt 2 NR 1,049 1,049 1,206 1,206

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2017 2016 Finished race cars, parts and accessories $ 4,700 $ 5,263 Souvenirs and apparel 2,026 2,131 Micro-lubricant ® and other 803 818 Total $ 7,529 $ 8,212

Note 4 - Goodwill and Other I21

Note 4 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Other Intangible Assets Goodwill 2017 2016 2017 2016 Balance, beginning of year $ 298,383 $ 298,394 $ 47,342 $ 47,342 Increase from acquisitions – – – – Decrease from impairment charges – – (1,117 ) – Balance, end of period $ 298,383 $ 298,394 $ 46,225 $ 47,342

Note 5 - Long-term Debt (Tables

Note 5 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Interest Income and Interest Expense Disclosure [Table Text Block]	Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Gross interest costs $ 3,217 $ 3,413 $ 9,861 $ 10,520 Less: capitalized interest costs (65 ) (74 ) (218 ) (452 ) Interest expense 3,152 3,339 9,643 10,068 Interest income (98 ) (49 ) (421 ) (148 ) Interest expense, net $ 3,054 $ 3,290 $ 9,222 $ 9,920 Weighted-average interest rate on Credit Facility borrowings 2.5 % 2.0 % 2.3 % 2.0 %

Note 6 - Per Share and Other 23

Note 6 - Per Share and Other Equity Information (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Net income applicable to common stockholders and assumed conversions $ 9,211 $ 13,666 $ 34,582 $ 39,274 Weighted average common shares outstanding 41,004 41,123 41,046 41,178 Dilution effect of assumed conversions: Common stock equivalents —stock awards 18 12 16 13 Weighted average common shares outstanding and assumed conversions 41,022 41,135 41,062 41,191 Basic earnings per share $ 0.22 $ 0.33 $ 0.84 $ 0.95 Diluted earnings per share $ 0.22 $ 0.33 $ 0.84 $ 0.95 Anti-dilutive common stock equivalents excluded in computing diluted earnings per share 9 152 10 148
Dividends Declared [Table Text Block]	Declaration date February 15, 2017 April 19, 2017 July 19, 2017 October 18, 2017 Record date March 1, 2017 May 15, 2017 August 15, 2017 November 1 0, 2017 Paid or payable to shareholders March 17, 2017 June 5, 2017 September 5, 2017 December 1, 2017 Aggregate quarterly cash dividend $6,241 $6,157 $6,1 53 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, 2017
Related Party Transactions [Member]
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Merchandise and vehicle purchases $ 28 $ 18 $ 172 $ 123 Shared services expense 280 280 686 729 Merchandise sales 652 874 2,186 2,413 Rent expense 182 181 544 542
Related Party Balances [Member]
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	September 30, 2017 December 31, 2016 Accounts receivable $ 294 $ 278

Note 9 - Stock Compensation P25

Note 9 - Stock Compensation Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Nine Months Ended September 30: 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)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30: 2017 2016 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 133,041 $ 4,567 $ 137,608 $ 134,686 $ 35,975 $ 170,661 Depreciation and amortization 13,799 35 13,834 13,976 40 14,016 Segment operating income 16,609 939 17,548 14,938 7,843 22,781 Nine Months Ended September 30: 2017 2016 Motorsports Event Related All Other Consolidated Motorsports Event Related All Other Consolidated Revenues $ 382,283 $ 14,903 $ 397,186 $ 382,656 $ 46,869 $ 429,525 Depreciation and amortization 44,700 108 44,808 40,833 124 40,957 Impairment of goodwill (Note 4) 1,117 – 1,117 – – – Segment operating income 59,037 3,399 62,436 59,715 10,493 70,208 Capital expenditures 21,931 29 21,960 33,387 53 33,440
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Three Months Ended September 30: Nine Months Ended September 30: 2017 2016 2017 2016 Total segment operating income $ 17,548 $ 22,781 $ 62,436 $ 70,208 Adjusted for: Interest expense, net (3,054 ) (3,290 ) (9,222 ) (9,920 ) Other income (expense), net 157 941 (45 ) 886 Consolidated income before income taxes $ 14,651 $ 20,432 $ 53,169 $ 61,174
Other Intangibles and Good will [Member]
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	September 30, 2017 December 31, 2016 Other intangibles $ 298,383 – $ 298,383 $ 298,383 – $ 298,383 Goodwill 46,225 – 46,225 47,342 – 47,342 Total assets 1,449,981 $ 23,826 1,473,807 1,474,127 $ 24,022 1,498,149

Note 1 - Description of Busin27

Note 1 - Description of Business (Details Textual)	9 Months Ended	12 Months Ended
	Sep. 30, 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			9 Months Ended
	Sep. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Effective Income Tax Rate Reconciliation, Percent	37.10%		33.10%	35.00%	35.80%
Increase (Decrease) in Deferred Income Tax Liabilities for Anticipated Change in State Income Tax Rates				$ (1,791,000)
Deferred Tax Assets, Operating Loss Carryforwards, State and Local	$ 515,000			515,000
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount			$ 507,000		$ 507,000
Income Taxes Paid				12,855,000	650,000
Unrecognized Tax Benefits	12,006,000			12,006,000		$ 12,006,000
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	260,000			260,000		260,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	216,000			216,000		140,000
Excise and Sales Taxes	1,386,000		3,610,000	4,115,000	6,427,000
Advertising Expense	3,831,000		5,724,000	10,854,000	13,306,000
Deferred Advertising Costs	0			0		0
Accelerated Depreciation and Removal Costs, Before Tax		$ 4,597,000
Income Tax Expense (Benefit), Accelerated Depreciation and Removal Costs		$ (1,700,000)
TMS Property [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	403,000			855,000
Texas Motor Speedway Inc. [Member]
Depreciation			357,000		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		1,519,000
Other Noncurrent Liabilities [Member]
Unrecognized Tax Benefits	11,794,000			11,794,000		11,794,000
Deferred Tax Liabilities [Member]
Unrecognized Tax Benefits	212,000			212,000		212,000
Discontinued Operations [Member]
Unrecognized Tax Benefits	11,746,000			11,746,000
Texas Motor Speedway Inc. [Member]
Royalty Revenue	508,000		$ 615,000	$ 1,486,000	$ 1,666,000
Royalty Revenue, Distribution, Percentage				25.00%
Texas Motor Speedway Inc. [Member] | Royalty Arrangement [Member]
Deferred Revenue	$ 0			$ 0		0
Texas Motor Speedway Inc. [Member] | Indy Car Series [Member]
Deferred Revenue						$ 524,000
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

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	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Cash and cash equivalents	$ 85,827	$ 79,342	$ 82,308	$ 82,010
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	85,827	79,342
Notes receivable	1,018	1,143
Cash surrender values	9,587	8,919
Floating rate revolving Credit Facility, including Term Loan	35,000	66,000
Floating rate revolving Credit Facility, including Term Loan, fair value	35,000	66,000
5.125% Senior Notes Payable due 2023	200,000	200,000
Other long-term debt	1,049	1,206
Other long-term debt, fair value	1,049	1,206
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents, fair value	85,827	79,342
Notes receivable, fair value	1,018	1,143
Cash surrender values	9,587	8,919
Floating rate revolving Credit Facility, including Term Loan	35,000	66,000
Floating rate revolving Credit Facility, including Term Loan, fair value	35,000	66,000
5.125% Senior Notes Payable due 2023	206,500	202,500
Other long-term debt	1,049	1,206
Other long-term debt, fair value	$ 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)	Sep. 30, 2017	Dec. 31, 2016
Senior Notes Payable, Interest	5.125%	5.125%

Note 3 - Inventories - Inventor

Note 3 - Inventories - Inventories Components (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventories, net	$ 7,529	$ 8,212
Finished Vehicles Parts and Accessories [Member]
Inventories, net	4,700	5,263
Souvenirs and Apparel [Member]
Inventories, net	2,026	2,131
Micro Lubricant and Other [Member]
Inventories, net	$ 803	$ 818

Note 4 - Goodwill and Other I32

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Indefinite-Lived Intangible Assets (Excluding Goodwill)		$ 298,383,000	$ 298,394,000	$ 298,383,000	$ 298,394,000
Goodwill, Impairment Loss		1,117,000
Goodwill		46,225,000	47,342,000	47,342,000	$ 47,342,000
Goodwill, Impaired, Accumulated Impairment Loss		149,700,000		148,600,000
Other Intangible Assets, Impaired, Accumulated Impairment Loss		99,900,000		99,900,000
Unrecognized [Member]
Goodwill, Impairment Loss		0
SMI Properties [Member]
Goodwill	$ 0
Motorsports Event Segment [Member]
Goodwill, Impairment Loss	1,117,000	1,117,000
Goodwill, Impairment Loss, Tax Benefit	$ 419,000
Goodwill		46,225,000		47,342,000
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 - Changes in Gross Carrying Value of Other Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Balance, beginning of year	$ 298,383	$ 298,394
Increase from acquisitions
Decrease from impairment charges
Balance, end of period	298,383	298,394
Balance, beginning of year	47,342	47,342
Increase from acquisitions
Decrease from impairment charges	(1,117)
Balance, end of period	$ 46,225	$ 47,342

Note 5 - Long-term Debt (Detail

Note 5 - Long-term Debt (Details Textual)	1 Months Ended	3 Months Ended		9 Months Ended
	Jan. 31, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Jan. 31, 2015USD ($)
Debt Instrument, Interest Rate, Stated Percentage		5.125%		5.125%		5.125%
Debt Issuance Costs, Net		$ 4,239,000		$ 4,239,000		$ 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		573,000		$ 573,000		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
Proceeds from Issuance of Debt		0	$ 0	$ 0	$ 0
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		5,000,000	$ 20,000,000	31,000,000	$ 52,000,000
Long-term Debt		35,000,000		35,000,000		$ 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		99,427,000		99,427,000
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		$ 49,427,000		$ 49,427,000
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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Gross interest costs	$ 3,217	$ 3,413	$ 9,861	$ 10,520
Less: capitalized interest costs	(65)	(74)	(218)	(452)
Interest expense	3,152	3,339	9,643	10,068
Interest income	(98)	(49)	(421)	(148)
Interest expense, net	$ 3,054	$ 3,290	$ 9,222	$ 9,920
Weighted-average interest rate on Credit Facility borrowings	2.50%	2.00%	2.30%	2.00%

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, 2017	Sep. 30, 2017	Sep. 30, 2016
Treasury Stock, Value, Acquired, Cost Method		$ 4,348,000
Treasury Stock, Shares Held for Tax Withholding for Share-based Compensation	304,000	304,000
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		$ 607,000
Management [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		65,000
Stock Repurchase Program [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	5,000,000	5,000,000
Treasury Stock, Shares, Acquired	64,000	189,000
Treasury Stock, Value, Acquired, Cost Method	$ 1,304,000	$ 3,742,000
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	253,000	253,000

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income applicable to common stockholders and assumed conversions	$ 9,211	$ 13,666	$ 34,582	$ 39,274
Weighted average common shares outstanding (in shares)	41,004	41,123	41,046	41,178
Common stock equivalents—stock awards (in shares)	18	12	16	13
Weighted average common shares outstanding and assumed conversions (in shares)	41,022	41,135	41,062	41,191
Basic earnings per share (in dollars per share)	$ 0.22	$ 0.33	$ 0.84	$ 0.95
Diluted earnings per share (in dollars per share)	$ 0.22	$ 0.33	$ 0.84	$ 0.95
Anti-dilutive common stock equivalents excluded in computing diluted earnings per share (in shares)	9	152	10	148

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, 2017USD ($)$ / shares
Aggregate quarterly cash dividend	$ 18,551
Dividend Declared on February 15, 2017 [Member]
Declaration date	Feb. 15, 2017
Record date	Mar. 1, 2017
Paid or payable to shareholders	Mar. 17, 2017
Aggregate quarterly cash dividend	$ 6,241
Cash dividends, per share of common stock (in dollars per share) | $ / shares	$ 0.15
Dividend Declared on April 19, 2017 [Member]
Declaration date	Apr. 19, 2017
Record date	May 15, 2017
Paid or payable to shareholders	Jun. 5, 2017
Aggregate quarterly cash dividend	$ 6,157
Cash dividends, per share of common stock (in dollars per share) | $ / shares	$ 0.15
Dividend Declared on July 19, 2017 [Member]
Declaration date	Jul. 19, 2017
Record date	Aug. 15, 2017
Paid or payable to shareholders	Sep. 5, 2017
Aggregate quarterly cash dividend	$ 6,153
Cash dividends, per share of common stock (in dollars per share) | $ / shares	$ 0.15
Dividend Declared on October 18, 2017 [Member]
Declaration date	Oct. 18, 2017
Record date	Nov. 10, 2017
Paid or payable to shareholders	Dec. 1, 2017
Aggregate quarterly cash dividend	$ 6,200
Cash dividends, per share of common stock (in dollars per share) | $ / shares	$ 0.15

Note 7 - Related Party Transa39

Note 7 - Related Party Transactions (Details Textual) xbrli-pure in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Related Party Transaction, Expenses from Transactions with Related Party	$ 280,000	$ 280,000	$ 686,000	$ 729,000
Revenue from Related Parties	652,000	874,000	2,186,000	2,413,000
Affiliated Entity [Member]
Operating Leases, Rent Expense	182,000	181,000	544,000	542,000
Sonic Automotive Inc. [Member]
Operating Leases, Rent Expense	$ 28,000	$ 18,000	$ 172,000	$ 123,000
Number of Vehicles Sold	0	0	0	0
Sonic Automotive Inc. [Member] | SMI Properties [Member]
Revenue from Related Parties	$ 203,000	$ 339,000	$ 679,000	$ 794,000
Sonic Automotive Inc. [Member] | Oil Chem [Member]
Revenue from Related Parties	449,000	$ 535,000	1,507,000	$ 1,619,000
Sonic Financial [Member]
Due from Affiliates	103,000		103,000		$ 84,000
Sonic Financial [Member] | Oil Chem [Member]
Due from Related Parties	$ 191,000		$ 191,000		$ 194,000

Note 7 - Related Party Transa40

Note 7 - Related Party Transactions - Foregoing Related Party Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable	$ 294	$ 278

Note 7 - Related Party Transa41

Note 7 - Related Party Transactions - Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Merchandise and vehicle purchases	$ 28,000	$ 18,000	$ 172,000	$ 123,000
Shared services expense	280,000	280,000	686,000	729,000
Merchandise sales	652,000	874,000	2,186,000	2,413,000
Rent expense	$ 182,000	$ 181,000	$ 544,000	$ 542,000

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, 2017	Apr. 30, 2016	Apr. 30, 2015	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
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
Allocated Share-based Compensation Expense				$ 868,000	$ 852,000	$ 2,533,000	$ 2,560,000
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense				322,000	$ 282,000	887,000	$ 916,000
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount						0		$ 0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options				0		$ 0
The 2013 Stock Incentive Plan [Member] | Non Executive Management Employees [Member]
Stock Repurchased During Period, Shares						500	500
Stock Repurchased During Period, Value						$ 9,000	$ 9,000
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings						1,500	1,500
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
The 2004 Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						30,500
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price						$ 15.83
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	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	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	3,893	15,976	12,816
Restricted Stock and Restricted Stock Units [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options				$ 3,140,000		$ 3,140,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						328 days

Note 9 - Stock Compensation P43

Note 9 - Stock Compensation Plans - Summary of Restricted Stock and Restricted Stock Units (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 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 ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 137,608,000		$ 170,661,000	$ 397,186,000	$ 429,525,000
Depreciation and amortization	13,834,000		14,016,000	44,808,000	40,957,000
Total segment operating income	17,548,000		22,781,000	62,436,000	70,208,000
Impairment of goodwill (Note 4)				1,117,000
Capital expenditures				21,960,000	33,440,000
Motorsports Event Segment [Member]
Revenues	133,041,000		134,686,000	382,283,000	382,656,000
Depreciation and amortization	13,799,000		13,976,000	44,700,000	40,833,000
Total segment operating income	16,609,000		14,938,000	59,037,000	59,715,000
Impairment of goodwill (Note 4)		$ 1,117,000		1,117,000
Capital expenditures				21,931,000	33,387,000
Other Segments [Member]
Revenues	4,567,000		35,975,000	14,903,000	46,869,000
Depreciation and amortization	35,000		40,000	108,000	124,000
Total segment operating income	$ 939,000		$ 7,843,000	3,399,000	10,493,000
Impairment of goodwill (Note 4)
Capital expenditures				$ 29,000	$ 53,000

Note 10 - Segment Disclosures45

Note 10 - Segment Disclosures - Summary of Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Other intangibles	$ 298,383	$ 298,383
Goodwill	46,225	47,342	$ 47,342	$ 47,342
Total assets	1,473,807	1,498,149
Motorsports Event Segment [Member]
Other intangibles	298,383	298,383
Goodwill	46,225	47,342
Total assets	1,449,981	1,474,127
Other Segments [Member]
Other intangibles
Goodwill
Total assets	$ 23,826	$ 24,022

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Total segment operating income	$ 17,548	$ 22,781	$ 62,436	$ 70,208
us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedAbstract
Interest expense, net	(3,054)	(3,290)	(9,222)	(9,920)
Other income (expense), net	157	941	(45)	886
Income Before Income Taxes	$ 14,651	$ 20,432	$ 53,169	$ 61,174