v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Revenue $ 184,018 $ 3,773,684 $ 1,623,795 $ 8,658,521
Operating expenses:        
Direct operating expenses 130,749 2,800,429 1,199,126 6,279,447
Selling, general and administrative expenses 405,934 542,547 1,243,307 1,520,910
Depreciation and amortization 119,938 126,306 364,785 329,044
Loss (gain) on disposal of operating assets 208 (305) 897 (553)
Corporate expenses 31,630 44,666 80,858 121,909
Operating income (loss) (504,441) 260,041 (1,265,178) 407,764
Interest expense 66,093 36,587 162,781 109,894
Interest income (2,810) (5,863) (9,712) (12,229)
Equity in losses (earnings) of nonconsolidated affiliates 2,615 2,681 6,656 (6,291)
Other expense (income), net (10,977) 5,384 (11,522) 1,551
Income (loss) before income taxes (559,362) 221,252 (1,413,381) 314,839
Income tax expense (benefit) (16,904) 27,280 (49,417) 59,988
Net income (loss) (542,458) 193,972 (1,363,964) 254,851
Net income (loss) attributable to noncontrolling interests (13,556) 15,047 (82,761) 25,015
Net income (loss) attributable to common stockholders of Live Nation $ (528,902) $ 178,925 $ (1,281,203) $ 229,836
Basic net income (loss) per common share available to common stockholders of Live Nation $ (2.45) $ 0.74 $ (6.08) $ 0.86
Diluted net income (loss) per common share available to common stockholders of Live Nation $ (2.45) $ 0.71 $ (6.08) $ 0.83
Weighted average common shares outstanding:        
Basic 212,593,719 210,621,971 211,781,620 209,849,058
Diluted 212,593,719 218,957,376 211,781,620 218,485,494
Reconciliation to net income (loss) available to common stockholders of Live Nation:        
Net income (loss) attributable to common stockholders of Live Nation $ (528,902) $ 178,925 $ (1,281,203) $ 229,836
Accretion of redeemable noncontrolling interests 6,990 (23,580) (5,955) (49,407)
Net income (loss) available to common stockholders of Live Nation—basic (521,912) 155,345 (1,287,158) 180,429
Convertible debt interest, net of tax 0 0 0 265
Net income (loss) available to common stockholders of Live Nation—diluted $ (521,912) $ 155,345 $ (1,287,158) $ 180,694

Source