v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Revenue $ 3,835,246 $ 3,440,308 $ 8,185,945 $ 7,366,772
Operating expenses:        
Direct operating expenses 2,924,356 2,633,940 5,991,547 5,431,672
Selling, general and administrative expenses 524,654 475,864 1,435,703 1,293,557
Depreciation and amortization 99,606 89,228 277,262 250,925
Loss (gain) on disposal of operating assets 10,318 37 10,464 (507)
Corporate expenses 42,093 39,892 108,055 97,711
Operating income 234,219 201,347 362,914 293,414
Interest expense 35,993 26,627 101,726 79,515
Loss on extinguishment of debt 0 0 2,470 1,049
Interest income (2,260) (1,471) (6,148) (3,447)
Equity in losses (earnings) of nonconsolidated affiliates (4) 816 (3,406) (2,060)
Other expense (income), net 262 920 7,033 (5,388)
Income before income taxes 200,228 174,455 261,239 223,745
Income tax expense 17,031 25,685 35,714 42,190
Net income 183,197 148,770 225,525 181,555
Net income (loss) attributable to noncontrolling interests 10,514 12,377 17,389 (3,323)
Net income attributable to common stockholders of Live Nation $ 172,683 $ 136,393 $ 208,136 $ 184,878
Basic net income per common share available to common stockholders of Live Nation $ 0.73 $ 0.56 $ 0.74 $ 0.65
Diluted net income per common share available to common stockholders of Live Nation $ 0.70 $ 0.53 $ 0.71 $ 0.62
Weighted average common shares outstanding:        
Weighted average common shares—basic 207,614,413 205,287,843 207,228,034 204,574,742
Weighted average common shares—diluted 216,788,983 223,132,186 215,406,201 213,886,452
Reconciliation to net income available to common stockholders of Live Nation:        
Net income attributable to common stockholders of Live Nation $ 172,683 $ 136,393 $ 208,136 $ 184,878
Accretion of redeemable noncontrolling interests (20,789) (21,397) (54,347) (52,811)
Net income available to common stockholders of Live Nation—basic 151,894 114,996 153,789 132,067
Convertible debt interest, net of tax 319 3,336 0 0
Net income available to common stockholders of Live Nation—diluted $ 152,213 $ 118,332 $ 153,789 $ 132,067

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