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Tj ET Q /GS0 gs q 8.02 0 0 9.18 485.36 104.96 cm /I13 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 493.38 106.90 Td () Tj ET Q q 0 0 0 rg BT 497.54 106.90 Td (Y) Tj ET Q q 0 0 0 rg BT 503.14 106.90 Td (es) Tj ET Q /GS0 gs q 9.54 0 0 9.18 519.64 104.96 cm /I14 Do Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.18 106.90 Td (No) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 68.00 90.10 Td (On ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 81.25 90.10 Td (October26, 2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 143.99 90.10 Td (, there were ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 188.46 90.10 Td (206,799,926) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 233.46 90.10 Td ( outstanding shares of the registrant) Tj ET Q q 0 0 0 rg BT 364.18 90.10 Td (s common stock, $0.01par value per share, including ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 79.30 Td (1,102,852 shares of unvested restricted stock awards and excluding 408,024 shares held in treasury) Tj ET Q q 0 0 0 rg BT 406.32 79.30 Td (.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 68.79999999999995 m 562.5 68.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50.5 64.79999999999995 m 562.5 64.79999999999995 l s BT /F1 10.00 Tf ET endstream endobj 5 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 6 0 R>> endobj 6 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.90 742.25 Td (LIVE NA) Tj ET Q q 0 0 0 rg BT 255.55 742.25 Td (TION ENTER) Tj ET Q q 0 0 0 rg BT 317.72 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 323.65 742.25 Td (AINMENT) Tj ET Q q 0 0 0 rg BT 371.24 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.25 730.25 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 287.80 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 294.29 730.25 Td (O FORM10-Q) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 681.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 681.95 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 681.95 29.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 651.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 651.95 400.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 651.95 29.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 601.95 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 601.95 400.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 601.95 29.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 561.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 561.95 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 561.95 29.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 531.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 531.95 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 531.95 29.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 502.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 502.95 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 502.95 29.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 472.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 472.95 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 472.95 29.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 63.50 442.95 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 118.50 442.95 400.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.50 442.95 29.00 -15.00 re f /GS0 gs BT /F1 8.00 Tf ET q 0 0 0 rg BT 66.00 700.20 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 121.00 700.20 Td () Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.76 w 0 i [] 0 d 1 J 1 j 3 M 524.25 698.930078125 m 540.6875 698.930078125 l s q 0 0 0 rg BT 524.25 700.18 Td (Page) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 686.68 Td (PARTIFINANCIAL INFORMATION) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 66 670.2833984375 m 94.3251953125 670.2833984375 l s q 0 0 1 rg BT 66.00 671.62 Td (Item1.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 670.2833984375 m 204.59375 670.2833984375 l s q 0 0 1 rg BT 121.00 671.62 Td (Financial Statements) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 655.2833984375 m 490.345703125 655.2833984375 l s q 0 0 1 rg BT 121.00 656.62 Td (Consolidated Balance Sheets \(Unaudited\) as of September 30, 2017 and December31, 2016) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 640.2833984375 m 477.0205078125 640.2833984375 l s q 0 0 1 rg BT 121.00 641.62 Td (Consolidated Statements of Operations \(Unaudited\) for the three and nine months ended ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 630.2833984375 m 240.7021484375 630.2833984375 l s q 0 0 1 rg BT 121.00 631.62 Td (September 30, 2017 and 2016) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 615.2833984375 m 502.015625 615.2833984375 l s q 0 0 1 rg BT 121.00 616.62 Td (Consolidated Statements of Comprehensive Income \(Unaudited\) for the three and nine months ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 605.2833984375 m 267.0791015625 605.2833984375 l s q 0 0 1 rg BT 121.00 606.62 Td (ended September 30, 2017 and 2016) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 590.2833984375 m 500.9365234375 590.2833984375 l s q 0 0 1 rg BT 121.00 591.62 Td (Consolidated Statements of Cash Flows \(Unaudited\) for the nine months ended September 30, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 580.2833984375 m 180.4384765625 580.2833984375 l s q 0 0 1 rg BT 121.00 581.62 Td (2017 and 2016) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 565.2833984375 m 346.791015625 565.2833984375 l s q 0 0 1 rg BT 121.00 566.62 Td (Notes to Consolidated Financial Statements \(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 66 550.2833984375 m 94.3251953125 550.2833984375 l s q 0 0 1 rg BT 66.00 551.62 Td (Item2.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 550.2833984375 m 479.291015625 550.2833984375 l s q 0 0 1 rg BT 121.00 551.62 Td (Management) Tj ET Q q 0 0 1 rg BT 175.98 551.62 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 245.15 551.62 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 66 535.2833984375 m 94.3251953125 535.2833984375 l s q 0 0 1 rg BT 66.00 536.62 Td (Item3.) 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Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 121 520.2833984375 m 219.3154296875 520.2833984375 l s q 0 0 1 rg BT 121.00 521.62 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.20 507.63 Td (PART IIOTHER INFORMATION) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 66 491.28339843749995 m 94.3251953125 491.28339843749995 l s q 0 0 1 rg BT 66.00 492.62 Td (Item1.) 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54.75 m 561.5 54.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 435.10 661.83 Td (September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 653.88 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 505.25 661.83 Td (December 31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 653.88 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 471.00 643.70 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.35 631.53 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 620.32 Td (Current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 607.32 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 607.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 607.32 Td (1,801,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 607.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 607.32 Td (1,526,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 594.32 Td (Accounts receivable, less allowance of $31,693 and $29,634, respectively) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 594.32 Td (991,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 594.32 Td (568,936) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 581.32 Td (Prepaid expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 581.32 Td (714,176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 581.32 Td (528,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 568.32 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 568.32 Td (57,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 568.32 Td (49,774) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 555.48 Td (Total current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 555.32 Td (3,563,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 555.32 Td (2,673,551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 542.32 Td (Property, plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 529.32 Td (Land, buildings and improvements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 529.32 Td (928,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 529.32 Td (838,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 516.32 Td (Computer equipment and capitalized software) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 516.32 Td (582,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 516.32 Td (524,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 503.32 Td (Furniture and other equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 503.32 Td (297,654) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 503.32 Td (256,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 490.32 Td (Construction in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 490.32 Td (129,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 490.32 Td (125,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 477.32 Td (1,937,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 477.32 Td (1,745,311) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 464.32 Td (Less accumulated depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 464.32 Td (1,093,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 464.32 Td (993,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 451.32 Td (844,814) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 451.32 Td (751,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 438.32 Td (Intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 425.32 Td (Definite-lived intangible assets, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 425.32 Td (756,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 425.32 Td (812,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 412.32 Td (Indefinite-lived intangible assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 412.32 Td (369,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 412.32 Td (368,766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 399.32 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 399.32 Td (1,764,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 399.32 Td (1,747,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 386.32 Td (Other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 386.32 Td (511,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 386.32 Td (411,294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 373.48 Td (Total assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 373.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 373.32 Td (7,810,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 373.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 373.32 Td (6,764,266) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.55 360.48 Td (LIABILITIES AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 347.32 Td (Current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 334.32 Td (Accounts payable, client accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 334.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 334.32 Td (860,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 334.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 334.32 Td (726,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 321.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 321.32 Td (93,043) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 321.32 Td (55,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 308.32 Td (Accrued expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 308.32 Td (1,227,613) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 308.32 Td (781,494) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 295.32 Td (Deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 295.32 Td (909,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 295.32 Td (804,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 282.32 Td (Current portion of long-term debt, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 282.32 Td (71,674) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 282.32 Td (53,317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 269.32 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 269.32 Td (51,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 269.32 Td (39,055) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 256.48 Td (Total current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 256.32 Td (3,212,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 256.32 Td (2,460,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 243.32 Td (Long-term debt, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 242.42 Td (2,240,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 242.42 Td (2,259,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 228.32 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 228.32 Td (202,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 228.32 Td (197,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 215.32 Td (Other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 215.32 Td (170,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 215.32 Td (149,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 202.32 Td (Commitments and contingent liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 189.32 Td (Redeemable noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 189.32 Td (370,277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 189.32 Td (347,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 176.32 Td (Stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 163.32 Td (Common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 163.32 Td (2,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 163.32 Td (2,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 150.32 Td (Additional paid-in capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 150.32 Td (2,390,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 150.32 Td (2,381,011) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 137.32 Td (Accumulated deficit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 137.37 Td (\(888,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 137.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.30 137.37 Td (\(1,073,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 137.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 124.32 Td (Cost of shares held in treasury) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 124.37 Td (\(6,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 124.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 124.37 Td (\(6,865) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 124.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 111.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 111.37 Td (\(117,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 111.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 111.37 Td (\(176,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 111.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 98.48 Td (Total Live Nation stockholders equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 98.32 Td (1,378,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 98.32 Td (1,126,016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 85.32 Td (Noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 85.32 Td (235,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 85.32 Td (223,500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 72.48 Td (Total equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 72.32 Td (1,614,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 72.32 Td (1,349,516) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.00 59.48 Td (Total liabilities and equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 59.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 59.32 Td (7,810,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 59.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 59.32 Td (6,764,266) Tj ET Q BT /F1 10.00 Tf ET 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 191.75 m 561.5 169.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 169.75 m 49.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 154.75 m 367.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 154.75 m 431.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 154.75 m 497.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 169.75 m 561.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 154.75 m 561.5 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 154.75 m 49.5 130.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 131.75 m 367.5 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 129.75 m 367.5 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 131.75 m 431.5 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 129.75 m 431.5 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 131.75 m 497.5 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 129.75 m 497.5 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 154.75 m 561.5 130.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 131.75 m 561.5 131.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 129.75 m 561.5 129.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 130.75 m 49.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 121.75 m 307.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 121.75 m 367.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367.5 121.75 m 371.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371.5 121.75 m 431.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 121.75 m 437.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437.5 121.75 m 497.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497.5 121.75 m 501.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 561.5 130.75 m 561.5 121.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501.5 121.75 m 561.5 121.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 674.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.60 681.98 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 339.60 673.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.75 681.98 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.60 673.98 Td ( September 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 661.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 329.00 660.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.00 660.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.00 660.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.00 660.98 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 648.00 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 358.85 648.00 Td (\(in thousands except share and per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 633.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.60 633.42 Td (3,559,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.60 633.42 Td (3,170,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 633.42 Td (7,791,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 633.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 633.42 Td (6,557,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 618.42 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 603.42 Td (Direct operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.60 603.42 Td (2,732,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.60 603.42 Td (2,428,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 603.42 Td (5,801,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 603.42 Td (4,817,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 588.42 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 588.42 Td (475,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 588.42 Td (414,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.60 588.42 Td (1,293,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.60 588.42 Td (1,126,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 573.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 573.42 Td (109,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 573.42 Td (104,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 573.42 Td (305,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 573.42 Td (295,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 558.42 Td (Loss \(gain\) on disposal of operating assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.65 558.42 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 558.42 Td (253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 558.47 Td (\(507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 558.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 558.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 558.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 543.42 Td (Corporate expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 543.42 Td (39,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 543.42 Td (31,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 543.42 Td (97,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 543.42 Td (85,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 528.42 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 528.42 Td (201,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 528.42 Td (191,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 528.42 Td (293,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 528.42 Td (232,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 513.42 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 513.42 Td (26,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 513.42 Td (25,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 513.42 Td (80,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 513.42 Td (75,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 498.42 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.80 498.47 Td (\(1,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 498.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.30 498.47 Td (\(625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 498.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 498.47 Td (\(3,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 498.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 498.47 Td (\(1,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 498.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 483.42 Td (Equity in losses \(earnings\) of nonconsolidated affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 483.42 Td (816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 483.42 Td (17,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 483.47 Td (\(2,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 483.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 483.42 Td (17,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 468.42 Td (Other expense \(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 468.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 468.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 468.47 Td (\(5,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 468.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 468.42 Td (1,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 453.42 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 453.42 Td (174,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 453.42 Td (146,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 453.42 Td (223,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 453.42 Td (139,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 438.42 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 438.42 Td (25,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 438.42 Td (13,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 438.42 Td (42,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 438.42 Td (26,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 423.42 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 423.42 Td (148,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 423.42 Td (132,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 423.42 Td (181,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 423.42 Td (113,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 408.42 Td (Net income \(loss\) attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.15 408.42 Td (12,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.15 408.42 Td (21,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 408.47 Td (\(3,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 408.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 408.42 Td (8,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 394.32 Td (Net income attributable to common stockholders of Live) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 384.32 Td (Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 385.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 385.42 Td (136,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 385.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 385.42 Td (111,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 385.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 385.42 Td (184,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 385.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 385.42 Td (104,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 355.42 Td (Basic net income per common share available to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 345.42 Td (stockholders of Live Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 345.42 Td (0.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 345.42 Td (0.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 345.42 Td (0.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 345.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 345.42 Td (0.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 331.32 Td (Diluted net income per common share available to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 321.32 Td (stockholders of Live Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 321.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.15 321.42 Td (0.53) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 321.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 321.42 Td (0.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 321.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 321.42 Td (0.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 321.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 321.42 Td (0.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 298.42 Td (Weighted average common shares outstanding:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 283.42 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.60 283.42 Td (205,287,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.60 283.42 Td (202,118,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.60 283.42 Td (204,574,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.60 283.42 Td (201,904,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 269.32 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.60 268.42 Td (223,132,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.60 268.42 Td (217,690,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.60 268.42 Td (213,886,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.60 268.42 Td (208,855,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 235.32 Td (Reconciliation to net income available to common stockholders of Live Nation:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 221.32 Td (Net income attributable to common stockholders of Live) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 211.32 Td (Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 211.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 211.42 Td (136,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 211.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 211.42 Td (111,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 211.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 211.42 Td (184,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 211.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 211.42 Td (104,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 197.32 Td (Accretion of redeemable noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.80 196.47 Td (\(21,397) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 196.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 196.47 Td (\(8,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.65 196.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 196.47 Td (\(52,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 196.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 196.47 Td (\(33,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 196.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 182.32 Td (Net income available to common stockholders of Live Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 172.37 Td (basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 174.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 174.42 Td (114,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.00 174.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.15 174.42 Td (102,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.00 174.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 174.42 Td (132,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.00 174.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 174.42 Td (71,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 160.32 Td (Convertible debt interest, net of tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 159.42 Td (3,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 159.42 Td (3,274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 159.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 159.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 145.32 Td (Net income available to common stockholders of Live Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 135.32 Td (diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 135.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 135.42 Td (118,332) Tj 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0.9333333333333333 1 rg /GS0 gs 49.50 331.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 331.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 331.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 331.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 305.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 305.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 305.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 305.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 279.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 279.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 279.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 279.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 253.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 253.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 253.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 253.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 227.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 227.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 227.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 227.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 201.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 201.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 201.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 201.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 175.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 175.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 175.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 175.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 669.75 m 492.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 669.75 m 496.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 669.75 m 561.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 656.75 m 492.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 656.75 m 561.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 422.75 m 492.5 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 422.75 m 561.5 422.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 409.75 m 492.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 409.75 m 561.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 331.75 m 561.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 331.75 m 492.5 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 318.75 m 492.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 318.75 m 561.5 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 214.75 m 492.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 201.75 m 492.5 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 214.75 m 561.5 214.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 201.75 m 561.5 201.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 188.75 m 492.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 188.75 m 561.5 188.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 162.75 m 492.5 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 162.75 m 561.5 162.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 150.75 m 492.5 150.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 148.75 m 492.5 148.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 150.75 m 561.5 150.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 148.75 m 561.5 148.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 674.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.75 681.98 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.60 673.98 Td ( September 30,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 661.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 660.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 660.98 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 648.00 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 471.00 648.00 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 634.48 Td (CASH FLOWS FROM OPERATING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 621.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 621.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 621.32 Td (181,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 621.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 621.32 Td (113,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 608.32 Td (Reconciling items:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 595.32 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 595.32 Td (107,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 595.32 Td (104,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 582.32 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 582.32 Td (198,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 582.32 Td (191,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 569.32 Td (Deferred income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 569.37 Td (\(9,901) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 569.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 569.37 Td (\(14,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 569.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 556.32 Td (Amortization of debt issuance costs, discounts and premium, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 556.32 Td (9,836) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 556.32 Td (7,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 543.32 Td (Non-cash compensation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 543.32 Td (23,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 543.32 Td (25,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 530.32 Td (Unrealized changes in fair value of contingent consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 530.32 Td (12,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 530.37 Td (\(5,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 530.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 517.32 Td (Equity in losses \(earnings\) of nonconsolidated affiliates, net of distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 517.32 Td (5,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 517.32 Td (25,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 504.32 Td (Provision for uncollectible receivables and advances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 504.32 Td (7,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 504.32 Td (12,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 491.32 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 491.32 Td (3,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 491.37 Td (\(250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 491.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 478.32 Td (Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 465.32 Td (Increase in accounts receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 465.37 Td (\(394,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 465.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 465.37 Td (\(345,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 465.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 452.32 Td (Increase in prepaid expenses and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 452.37 Td (\(280,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 452.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 452.37 Td (\(173,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 452.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 439.32 Td (Increase in accounts payable, accrued expenses and other liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 439.32 Td (536,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 439.32 Td (295,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 426.32 Td (Increase \(decrease\) in deferred revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 426.32 Td (16,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 426.37 Td (\(116,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 426.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 413.32 Td (Net cash provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 413.32 Td (417,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 413.32 Td (119,516) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 400.48 Td (CASH FLOWS FROM INVESTING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 387.32 Td (Advances of notes receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 387.37 Td (\(10,943) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 387.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 387.37 Td (\(11,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 387.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 374.32 Td (Investments made in nonconsolidated affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 374.37 Td (\(22,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 374.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 374.37 Td (\(18,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 374.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 361.32 Td (Purchases of property, plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 361.37 Td (\(184,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 361.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 361.37 Td (\(119,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 361.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 348.32 Td (Cash paid for acquisitions, net of cash acquired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 348.37 Td (\(18,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 348.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 348.37 Td (\(113,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 348.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 335.32 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 335.32 Td (909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 335.32 Td (2,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 322.32 Td (Net cash used in investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 322.37 Td (\(235,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 322.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 322.37 Td (\(260,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 322.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 309.48 Td (CASH FLOWS FROM FINANCING ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 296.32 Td (Proceeds from long-term debt, net of debt issuance costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 296.32 Td (59,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 296.32 Td (6,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 283.32 Td (Payments on long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 283.37 Td (\(84,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 283.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 283.37 Td (\(28,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 283.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 270.32 Td (Distributions to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 270.37 Td (\(22,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 270.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 270.37 Td (\(25,279) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 270.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 257.32 Td (Purchases and sales of noncontrolling interests, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 257.37 Td (\(10,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 257.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 257.37 Td (\(32,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 257.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 244.32 Td (Proceeds from exercise of stock options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 244.32 Td (44,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 244.32 Td (5,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 231.32 Td (Payments for deferred and contingent consideration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 231.37 Td (\(14,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 231.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 231.37 Td (\(21,809) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 231.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 218.32 Td (Other, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 218.32 Td (2,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 218.37 Td (\(14,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 218.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 205.32 Td (Net cash used in financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 205.37 Td (\(25,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 205.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 205.37 Td (\(109,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 205.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 192.32 Td (Effect of exchange rate changes on cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 192.32 Td (118,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 192.37 Td (\(13,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 192.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.00 179.32 Td (Net increase \(decrease\) in cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 179.32 Td (274,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 179.37 Td (\(263,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 179.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 166.32 Td (Cash and cash equivalents at beginning of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 166.32 Td (1,526,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 166.32 Td (1,303,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 153.32 Td (Cash and cash equivalents at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 153.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 153.32 Td (1,801,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 153.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.65 153.32 Td (1,039,706) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 17 0 obj <>] /Rotate 0 /Contents 18 0 R>> endobj 18 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.90 742.25 Td (LIVE NA) Tj ET Q q 0 0 0 rg BT 255.55 742.25 Td (TION ENTER) Tj ET Q q 0 0 0 rg BT 317.72 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 323.65 742.25 Td (AINMENT) Tj ET Q q 0 0 0 rg BT 371.24 742.25 Td (, INC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.30 730.25 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 730.25 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 730.25 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 730.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 730.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 730.25 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 730.25 Td (TEMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.35 718.25 Td (\(UNAUDITED\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 689.25 Td (NOTE 1BASIS OF) Tj ET Q q 0 0 0 rg BT 140.76 689.25 Td ( PRESENT) Tj ET Q q 0 0 0 rg BT 188.64 689.25 Td (A) Tj ET Q q 0 0 0 rg BT 195.12 689.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 222.63 689.25 Td (AND OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 333.55 689.25 Td (TION) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 671.25 Td (Preparation of Interim Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 653.25 Td (The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 515.13 653.25 Td ( for interim ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 641.25 Td (financial information and the instructions to Form 10-Q and ) Tj ET Q q 0 0 0 rg BT 291.90 641.25 Td (Article 10 of Regulation S-X issued by the SEC. ) Tj ET Q q 0 0 0 rg BT 487.99 641.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 537.33 641.25 Td (, they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 629.25 Td (do not include all of the information and footnotes required by GAAP) Tj ET Q q 0 0 0 rg BT 329.29 629.25 Td ( for complete financial statements. In the opinion of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 617.25 Td (management, they include all normal and recurring accruals and adjustments necessary to present fairly the results of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 605.25 Td (interim periods shown.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 587.25 Td (The financial statements should be read in conjunction with the consolidated financial statements and notes thereto ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 575.25 Td (included in the Company) Tj ET Q q 0 0 0 rg BT 153.59 575.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.99 575.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.99 575.25 Td ( ) Tj ET Q q 0 0 0 rg BT 181.93 575.25 Td (Annual Report on Form10-K filed with the SEC on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.47 575.25 Td (February23, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.07 575.25 Td (, as amended by the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 563.25 Td (Form 10-K/A) Tj ET Q q 0 0 0 rg BT 104.17 563.25 Td ( filed with the SEC on June 23, 2017.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 545.25 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 527.25 Td (Due to the seasonal nature of shows at outdoor amphitheaters and festivals, which primarily occur from May through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 515.25 Td (October) Tj ET Q q 0 0 0 rg BT 81.81 515.25 Td (, the Concerts and Sponsorship & ) Tj ET Q q 0 0 0 rg BT 218.19 515.25 Td (Advertising segments experience higher revenue during the second and third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 503.25 Td (quarters. ) Tj ET Q q 0 0 0 rg BT 87.03 503.25 Td (The ) Tj ET Q q 0 0 0 rg BT 104.89 503.25 Td (T) Tj ET Q q 0 0 0 rg BT 110.65 503.25 Td (icketing segment) Tj ET Q q 0 0 0 rg BT 181.46 503.25 Td (s revenue is impacted by fluctuations in the availability of events for sale to the public, which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 491.25 Td (vary depending upon scheduling by its clients. ) Tj ET Q q 0 0 0 rg BT 238.12 491.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 297.83 491.25 Td (s seasonality also results in higher balances in cash and cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 479.25 Td (equivalents, accounts receivable, prepaid expenses, accrued expenses and deferred revenue at dif) Tj ET Q q 0 0 0 rg BT 437.41 479.25 Td (ferent times in the year) Tj ET Q q 0 0 0 rg BT 529.04 479.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 467.25 Td (Therefore, the results to date are not necessarily indicative of the results expected for the full year) Tj ET Q q 0 0 0 rg BT 440.12 467.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 449.25 Td (Cash and Cash Equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 431.25 Td (Included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.98 431.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.24 431.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.68 431.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.27 431.25 Td ( cash and cash equivalents balance is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.49 431.25 Td ($639.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.38 431.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 419.25 Td ($591.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 419.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 161.55 419.25 Td (, of cash received that includes the face value of tickets sold on behalf of ticketing clients and their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 407.25 Td (share of service char) Tj ET Q q 0 0 0 rg BT 132.27 407.25 Td (ges, which amounts are to be remitted to the clients.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 389.25 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 371.25 Td (During the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.66 371.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.87 371.25 Td ( months of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.15 371.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.15 371.25 Td (, the Company completed several acquisitions that were accounted for as business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.25 Td (combinations under the acquisition method of accounting. ) Tj ET Q q 0 0 0 rg BT 284.77 359.25 Td (These acquisitions were not significant either on an individual basis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.25 Td (or in the aggregate.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 329.25 Td (Income T) Tj ET Q q 0 0 0 rg BT 100.80 329.25 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 311.25 Td (Each reporting period, the Company evaluates the realizability of all of its deferred tax assets in each tax jurisdiction. ) Tj ET Q q 0 0 0 rg BT 543.73 311.25 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 299.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.09 299.25 Td (, the Company continued to maintain a full valuation allowance against its net deferred tax assets in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.25 Td (certain jurisdictions due to cumulative pre-tax losses. ) Tj ET Q q 0 0 0 rg BT 264.95 287.25 Td (As a result of the valuation allowances, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.90 287.25 Td (no) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.90 287.25 Td ( tax benefits have been ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 275.25 Td (recognized for losses incurred in those tax jurisdictions for the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.76 275.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.98 275.25 Td ( months of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.26 275.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.26 275.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.70 275.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.70 275.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 257.25 Td (Accounting Pronouncements - Recently ) Tj ET Q q 0 0 0 rg BT 228.30 257.25 Td (Adopted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 239.25 Td (In March 2016, the F) Tj ET Q q 0 0 0 rg BT 156.46 239.25 Td (ASB issued guidance clarifying that the assessment of whether an embedded contingent put or call ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.25 Td (option is clearly and closely related to the debt instrument only requires an analysis pursuant to the four) Tj ET Q q 0 0 0 rg BT 464.41 227.25 Td (-step decision sequence ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 215.25 Td (outlined in the guidance for embedded derivatives. ) Tj ET Q q 0 0 0 rg BT 255.31 215.25 Td (The guidance should be applied to existing debt instruments using a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 203.25 Td (modified retrospective method as of the beginning of the period of adoption. ) Tj ET Q q 0 0 0 rg BT 358.35 203.25 Td (The Company adopted this guidance on January 1, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 191.25 Td (2017, and the adoption did not have an impact on its financial position or results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 173.25 Td (In October 2016, the F) Tj ET Q q 0 0 0 rg BT 162.57 173.25 Td (ASB issued guidance that requires a single decision maker evaluating whether it is the primary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 161.25 Td (beneficiary of a variable interest entity to consider its indirect interests held by related parties that are under common control on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 149.25 Td (a proportionate basis as opposed to considering those interests in their entirety as required by current guidance. ) Tj ET Q q 0 0 0 rg BT 496.36 149.25 Td (The guidance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 137.25 Td (should be applied retrospectively) Tj ET Q q 0 0 0 rg BT 181.81 137.25 Td (. ) Tj ET Q q 0 0 0 rg BT 186.63 137.25 Td (The Company adopted this guidance on January 1, 2017, and the adoption did not have an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 125.25 Td (impact on its financial position or results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 107.25 Td (In December 2016, the F) Tj ET Q q 0 0 0 rg BT 171.45 107.25 Td (ASB issued guidance making technical corrections and improvements, which includes an update ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.25 Td (clarifying how to account for arrangements that include a license to use internal-use software acquired from third parties. ) Tj ET Q q 0 0 0 rg BT 536.58 95.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 83.25 Td (guidance for this specific technical correction should be applied prospectively) Tj ET Q q 0 0 0 rg BT 361.18 83.25 Td (. ) Tj ET Q q 0 0 0 rg BT 366.00 83.25 Td (The Company adopted this guidance on January ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 71.25 Td (1, 2017, and the adoption did not have a material ef) Tj ET Q q 0 0 0 rg BT 255.87 71.25 Td (fect on its financial position or results of operations.) Tj ET Q endstream endobj 19 0 obj <>] /Rotate 0 /Contents 20 0 R>> endobj 20 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (7) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 742.25 Td (Accounting Pronouncements - Not ) Tj ET Q q 0 0 0 rg BT 207.95 742.25 Td (Y) Tj ET Q q 0 0 0 rg BT 212.95 742.25 Td (et ) Tj ET Q q 0 0 0 rg BT 222.29 742.25 Td (Adopted) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 724.25 Td (Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 706.25 Td (In May 2014, the F) Tj ET Q q 0 0 0 rg BT 148.70 706.25 Td (ASB issued a comprehensive new revenue recognition standard that will supersede nearly all existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (revenue recognition guidance under GAAP) Tj ET Q q 0 0 0 rg BT 222.17 694.25 Td (. ) Tj ET Q q 0 0 0 rg BT 226.99 694.25 Td (The newstandard provides afive-stepanalysis of transactions to determine when ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (and howrevenueis recognized. ) Tj ET Q q 0 0 0 rg BT 178.66 682.25 Td (The core principle of the guidance is that a company should recognize revenue to depict the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (be entitled to receive in exchange for those goods or services. ) Tj ET Q q 0 0 0 rg BT 298.62 658.25 Td (The F) Tj ET Q q 0 0 0 rg BT 321.48 658.25 Td (ASB continues to issue important guidance clarifying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (certain guidelines of the standard including \(1\) reframing the indicators in the principal versus agent guidance to focus on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (evidence that a company is acting as a principal rather than agent and \(2\) identifying performance obligations and licensing. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (The standard is ef) Tj ET Q q 0 0 0 rg BT 121.18 622.25 Td (fective for annual periods beginning after December 15, 2017 and interim periods within that year) Tj ET Q q 0 0 0 rg BT 513.00 622.25 Td (. Early ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (adoption of the standard is only permitted for annual periods beginning after December 15, 2016 and interim periods within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (that year) Tj ET Q q 0 0 0 rg BT 84.15 598.25 Td (. ) Tj ET Q q 0 0 0 rg BT 88.97 598.25 Td (The guidance should be applied retrospectively) Tj ET Q q 0 0 0 rg BT 277.42 598.25 Td (, either to each prior period presented in the financial statements, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (only to the most current reporting period presented in the financial statements with a cumulative-ef) Tj ET Q q 0 0 0 rg BT 445.81 586.25 Td (fect adjustment as of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (date of adoption.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 556.25 Td (T) Tj ET Q q 0 0 0 rg BT 77.91 556.25 Td (o assess the impact of the standard, the Company has dedicated certain of its personnel to lead the implementation ef) Tj ET Q q 0 0 0 rg BT 544.81 556.25 Td (fort ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (and has supplemented them with additional external resources. ) Tj ET Q q 0 0 0 rg BT 303.35 544.25 Td (These personnel reviewed the amended guidance and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (subsequent clarifications and attended multiple training sessions in order to understand the potential impact the new standard ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.25 Td (could have on the Company) Tj ET Q q 0 0 0 rg BT 164.98 520.25 Td (s revenue streams. Surveys were sent to and completed by divisional finance managers in order to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (obtain a more detailed understanding of the contracts within each division and follow-up meetings with these divisions were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.25 Td (then conducted. Based on the results of these surveys and meetings, the Company judgmentally selected a sample of contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.25 Td (based on size and complexity and ensuring all major revenue streams were represented. ) Tj ET Q q 0 0 0 rg BT 402.47 484.25 Td (The Company has completed its review ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.25 Td (of all the selected contracts and has compiled and summarized the results for its final review and analysis.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 454.25 Td (Based on the procedures performed to date, the Company believes it has identified all material contract types and costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (that may be impacted by the new guidance and it is nearing the completion of its assessment. ) Tj ET Q q 0 0 0 rg BT 424.17 442.25 Td (The Concerts segment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (representing approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.18 430.25 Td (70%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.51 430.25 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 250.22 430.25 Td (s 2016 consolidated revenue, is not expected to experience a change in its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (revenue recognition as the Company believes this revenue should continue to be deferred until the event date under the new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (standard. For the ) Tj ET Q q 0 0 0 rg BT 119.80 406.25 Td (T) Tj ET Q q 0 0 0 rg BT 125.56 406.25 Td (icketing segment, representing approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.78 406.25 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.11 406.25 Td ( of 2016 consolidated revenue, the Company has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.25 Td (concluded that it will no longer present payments to certain third parties as an expense and will begin reflecting these payments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (as a reduction of revenue. ) Tj ET Q q 0 0 0 rg BT 155.33 382.25 Td (The Company is reviewing the payments that will be reflected as a reduction of revenue and expects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 370.25 Td (to finalize the impact this change will have on both the Company's consolidated revenue and its ) Tj ET Q q 0 0 0 rg BT 434.85 370.25 Td (T) Tj ET Q q 0 0 0 rg BT 440.61 370.25 Td (icketing segment's revenue in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (the fourth quarter of 2017. ) Tj ET Q q 0 0 0 rg BT 158.12 358.25 Td (The timing of revenue recognition is not expected to change for the ) Tj ET Q q 0 0 0 rg BT 430.07 358.25 Td (T) Tj ET Q q 0 0 0 rg BT 435.83 358.25 Td (icketing business. ) Tj ET Q q 0 0 0 rg BT 509.25 358.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (remaining revenue streams of the Company are not expected to be impacted by the new guidance. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 328.25 Td (The Company will finalize its conclusions in 2017 and ensure that it can produce the data necessary for the required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (disclosures along with assessing changes to internal controls and processes that may be required to comply with the new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (revenue recognition and disclosure requirements. ) Tj ET Q q 0 0 0 rg BT 249.19 304.25 Td (The Company will adopt this standard on January 1, 2018, applying it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (retrospectively to each prior period presented in the financial statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 274.25 Td (Other Pr) Tj ET Q q 0 0 0 rg BT 107.96 274.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 256.25 Td (In January 2016, the F) Tj ET Q q 0 0 0 rg BT 161.46 256.25 Td (ASB issued amendments for the recognition, measurement, presentation and disclosure of financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.25 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 101.11 244.25 Td (Among other things, the guidance requires equity investments that do not result in consolidation and are not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.25 Td (accounted for under the equity method to be measured at fair value with any change in fair value recognized in net income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.25 Td (unless the investments do not have readily determinable fair values. ) Tj ET Q q 0 0 0 rg BT 323.35 220.25 Td (The amendments are ef) Tj ET Q q 0 0 0 rg BT 416.73 220.25 Td (fective for annual periods beginning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.25 Td (after December 15, 2017 and interim periods within that year) Tj ET Q q 0 0 0 rg BT 294.37 208.25 Td (. Early adoption is not permitted for most of the amendments. ) Tj ET Q q 0 0 0 rg BT 543.30 208.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (amendments are to be applied through a cumulative-ef) Tj ET Q q 0 0 0 rg BT 267.79 196.25 Td (fect adjustment to the balance sheet as of the beginning of the fiscal year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (of adoption with the exception of equity investments without readily determinable fair values, which will be applied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (prospectively) Tj ET Q q 0 0 0 rg BT 103.22 172.25 Td (. ) Tj ET Q q 0 0 0 rg BT 108.04 172.25 Td (The Company will adopt this guidance on January 1, 2018, and does not expect the adoption to have a material ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (impact on its financial position and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 142.25 Td (In February 2016, the F) Tj ET Q q 0 0 0 rg BT 166.46 142.25 Td (ASB issued guidance that requires lessees to recognize most leases on their balance sheet as a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 130.25 Td (lease liability and a right-of-use asset, and to disclose key information about leasing arrangements. ) Tj ET Q q 0 0 0 rg BT 446.92 130.25 Td (The guidance is ef) Tj ET Q q 0 0 0 rg BT 520.32 130.25 Td (fective for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.25 Td (annual periods beginning after December 15, 2018 and interim periods within that year) Tj ET Q q 0 0 0 rg BT 398.11 118.25 Td (, and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 532.33 118.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.25 Td (guidance should be applied on a modified retrospective basis. ) Tj ET Q q 0 0 0 rg BT 298.64 106.25 Td (The Company expects to adopt this guidance on January 1, 2019, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.25 Td (and is currently evaluating the impact that this guidance will have on its financial position and results of operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 76.25 Td (In October 2016, the F) Tj ET Q q 0 0 0 rg BT 162.57 76.25 Td (ASB issued guidance that requires companies to recognize the income tax ef) Tj ET Q q 0 0 0 rg BT 468.68 76.25 Td (fects of intercompany ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (sales and transfers of assets, other than inventory) Tj ET Q q 0 0 0 rg BT 245.41 64.25 Td (, in the period in which the transfer occurs. ) Tj ET Q q 0 0 0 rg BT 419.34 64.25 Td (That is a change from current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (guidance which requires companies to defer the income tax ef) Tj ET Q q 0 0 0 rg BT 297.77 52.25 Td (fects of intercompany transfers of assets until the asset has been ) Tj ET Q endstream endobj 21 0 obj <>] /Rotate 0 /Contents 22 0 R>> endobj 22 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (sold to an outside party or otherwise recognized. ) Tj ET Q q 0 0 0 rg BT 246.71 742.10 Td (The guidance is ef) Tj ET Q q 0 0 0 rg BT 320.11 742.10 Td (fective for annual periods beginning after December 15, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (2017 and interim periods within that year) Tj ET Q q 0 0 0 rg BT 215.12 730.10 Td (, and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 349.35 730.10 Td (The guidance should be applied on a modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (retrospective basis. ) Tj ET Q q 0 0 0 rg BT 128.96 718.10 Td (The Company expects to adopt this guidance on January 1, 2018, and the adoption will not impact its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (financial position or results of operations. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 688.10 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 161.46 688.10 Td (ASB issued guidance that changes the definition of a business to assist entities with evaluating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (when a set of transferred assets and activities is a business. ) Tj ET Q q 0 0 0 rg BT 287.53 676.10 Td (The guidance requires an entity to evaluate if substantially all of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (the set of transferred assets and activities is not a business. ) Tj ET Q q 0 0 0 rg BT 286.43 652.10 Td (The guidance also requires a business to include at least one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (substantive process and narrows the definition of outputs. ) Tj ET Q q 0 0 0 rg BT 282.83 640.10 Td (The guidance is ef) Tj ET Q q 0 0 0 rg BT 356.23 640.10 Td (fective for annual periods beginning after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.10 Td (December 15, 2017 and interim periods within that year) Tj ET Q q 0 0 0 rg BT 273.70 628.10 Td (, and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 407.93 628.10 Td (The guidance should be applied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (prospectively to any transactions occurring within the period of adoption. ) Tj ET Q q 0 0 0 rg BT 346.13 616.10 Td (The Company expects to adopt this guidance on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (January 1, 2018, and will apply it prospectively to acquisitions occurring on or after January 1, 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 586.10 Td (In January 2017, the F) Tj ET Q q 0 0 0 rg BT 161.46 586.10 Td (ASB issued guidance that eliminates the requirement to calculate the implied fair value of goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (to measure a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 206.71 574.10 Td (ge. Instead, entities will record an impairment char) Tj ET Q q 0 0 0 rg BT 410.07 574.10 Td (ge based on the excess of a reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (unit) Tj ET Q q 0 0 0 rg BT 68.33 562.10 Td (s carrying amount over its fair value. ) Tj ET Q q 0 0 0 rg BT 218.11 562.10 Td (The guidance is ef) Tj ET Q q 0 0 0 rg BT 291.50 562.10 Td (fective for annual periods beginning after December 15, 2019 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (interim periods within that year) Tj ET Q q 0 0 0 rg BT 175.68 550.10 Td (, and early adoption is permitted. ) Tj ET Q q 0 0 0 rg BT 309.91 550.10 Td (The guidance should be applied prospectively to goodwill ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.10 Td (impairment tests performed within the period of adoption. ) Tj ET Q q 0 0 0 rg BT 284.49 538.10 Td (The Company will adopt this guidance ef) Tj ET Q q 0 0 0 rg BT 449.82 538.10 Td (fective October 1, 2017 and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.10 Td (apply it prospectively to impairment tests beginning in the year of adoption.) Tj ET Q endstream endobj 23 0 obj <>] /Rotate 0 /Contents 24 0 R>> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 31.60 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (NOTE 2LONG-LIVED ) Tj ET Q q 0 0 0 rg BT 161.74 742.25 Td (ASSETS) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 724.25 Td (Definite-lived Intangible ) Tj ET Q q 0 0 0 rg BT 166.51 724.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 706.25 Td (The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 694.25 Td (intangible assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.70 694.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.91 694.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.74 694.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.00 694.25 Td (: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 627.75 187.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 627.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 627.75 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 627.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 627.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 627.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 627.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 627.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 627.75 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 627.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 627.75 37.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 627.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 627.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 588.75 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.50 588.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 588.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 588.75 49.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 588.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 588.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 588.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 588.75 37.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 588.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 588.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 548.75 133.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 548.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 548.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 548.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 548.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 548.75 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 548.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 548.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 508.75 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.50 508.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 508.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 508.75 49.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 508.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 508.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 508.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 508.75 37.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 508.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 508.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 458.75 86.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.50 458.75 47.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 458.75 50.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 458.75 49.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 458.75 46.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 458.75 46.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 458.75 50.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 458.75 37.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 458.75 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 458.75 51.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 417.75 133.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 417.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 417.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 417.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 417.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 417.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 417.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 417.75 37.00 -15.00 re f /GS0 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0.9333333333333333 1 rg /GS0 gs 404.50 387.75 50.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 387.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 387.75 37.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 387.75 4.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 387.75 51.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 345.75 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.50 345.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 345.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 345.75 49.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 345.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 345.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 345.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 345.75 37.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 345.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 345.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.50 306.75 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.50 306.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 193.50 306.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 306.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 306.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 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re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.50 256.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.50 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.50 256.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.50 256.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.50 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.50 256.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.50 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 404.50 256.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.50 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 256.75 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.50 256.75 51.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 640.75 m 193.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 640.75 m 247.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 640.75 m 300.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 640.75 m 350.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 640.75 m 400.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 640.75 m 454.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 640.75 m 495.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 640.75 m 550.5 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 563.75 m 193.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 563.75 m 247.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 563.75 m 300.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 563.75 m 350.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 563.75 m 400.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 563.75 m 454.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 563.75 m 495.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 563.75 m 550.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 563.75 m 193.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 563.75 m 247.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 563.75 m 300.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 563.75 m 350.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 563.75 m 400.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 563.75 m 454.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 563.75 m 495.5 563.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 441.75 m 193.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 441.75 m 247.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 441.75 m 300.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 441.75 m 350.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 441.75 m 400.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 441.75 m 454.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 441.75 m 495.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 441.75 m 550.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 441.75 m 193.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 417.75 m 193.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 441.75 m 247.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 417.75 m 247.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 441.75 m 300.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 417.75 m 300.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 441.75 m 350.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 417.75 m 350.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 441.75 m 400.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 417.75 m 400.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 441.75 m 454.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 417.75 m 454.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 441.75 m 495.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 417.75 m 495.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 441.75 m 550.5 441.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 417.75 m 550.5 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 345.75 m 193.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 345.75 m 247.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 345.75 m 300.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 345.75 m 350.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 345.75 m 400.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 345.75 m 454.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 345.75 m 495.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 345.75 m 550.5 345.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 320.75 m 193.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 320.75 m 247.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 320.75 m 300.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 320.75 m 350.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 320.75 m 400.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 320.75 m 454.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 320.75 m 495.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 320.75 m 550.5 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 256.75 m 193.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 256.75 m 247.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 256.75 m 300.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 256.75 m 350.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 256.75 m 400.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 256.75 m 454.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 256.75 m 495.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 256.75 m 550.5 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 242.75 m 193.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 146.5 240.75 m 193.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 242.75 m 247.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197.5 240.75 m 247.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 242.75 m 300.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251.5 240.75 m 300.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 242.75 m 350.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304.5 240.75 m 350.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 242.75 m 400.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 240.75 m 400.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 242.75 m 454.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 404.5 240.75 m 454.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 242.75 m 495.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 240.75 m 495.5 240.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 242.75 m 550.5 242.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499.5 240.75 m 550.5 240.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.50 660.98 Td (Revenue-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 151.25 652.98 Td (generating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.70 644.98 Td (contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.40 660.98 Td (Client /) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.05 652.98 Td (vendor) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 200.05 644.98 Td (r) Tj ET Q q 0 0 0 rg BT 203.46 644.98 Td (elationships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.45 668.98 Td (T) Tj ET Q q 0 0 0 rg BT 259.19 668.98 Td (rademarks) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 269.05 660.98 Td (and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.60 652.98 Td (naming) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 265.50 644.98 Td (rights) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 318.55 660.98 Td (Non-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.75 652.98 Td (compete) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 307.50 644.98 Td (agr) Tj ET Q q 0 0 0 rg BT 318.91 644.98 Td (eements) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 357.55 644.98 Td (Technology) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.45 668.98 Td (V) Tj ET Q q 0 0 0 rg BT 423.49 668.98 Td (enue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 407.00 660.98 Td (management) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 422.55 652.98 Td (and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.65 644.98 Td (leaseholds) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.35 644.98 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 644.98 Td (Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 325.00 632.00 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 618.43 Td (Balance as of December 31, 2016:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 604.32 Td (Gross carrying) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 594.32 Td (amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.10 593.42 Td (760,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.10 593.42 Td (402,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 593.42 Td (94,338) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.10 593.42 Td (65,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 593.42 Td (53,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 593.42 Td (54,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 593.42 Td (4,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 593.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.60 593.42 Td (1,433,830) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 579.32 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 569.32 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.80 568.42 Td (\(316,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.80 568.42 Td (\(213,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.80 568.42 Td (\(23,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.80 568.47 Td (\(22,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 568.47 Td (\(13,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.80 568.47 Td (\(29,664) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 568.47 Td (\(2,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 568.47 Td (\(621,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 568.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 554.32 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.10 553.42 Td (443,598) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.10 553.42 Td (188,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 553.42 Td (70,614) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.10 553.42 Td (43,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 553.42 Td (39,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 553.42 Td (24,337) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 553.42 Td (1,924) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 553.42 Td (812,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 539.32 Td (Gross carrying amount:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 524.32 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 514.32 Td (current year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.65 513.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.15 513.42 Td (22,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 513.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 513.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 513.42 Td (12,037) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.65 513.42 Td (820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 513.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 513.42 Td (35,492) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 499.32 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 489.32 Td (prior year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.80 488.42 Td (\(6,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 488.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 488.42 Td (35,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 488.42 Td (1,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 488.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 488.42 Td (29,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 474.32 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 464.32 Td (exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.10 463.42 Td (21,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.15 463.42 Td (9,069) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 463.42 Td (1,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 463.42 Td (2,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.15 463.42 Td (2,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 463.42 Td (2,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.65 463.42 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 463.42 Td (39,228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 449.32 Td (Other) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 103.77 453.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.80 446.42 Td (\(5,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.80 446.42 Td (\(3,009) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 446.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.30 446.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.30 446.47 Td (\(305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 446.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 446.47 Td (\(247) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.80 446.47 Td (\(8,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 432.32 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 422.32 Td (change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.10 422.42 Td (10,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.15 422.42 Td (28,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 422.42 Td (36,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.15 422.42 Td (2,228) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 422.42 Td (15,022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 422.42 Td (3,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 422.47 Td (\(225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 422.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 422.42 Td (95,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 407.87 Td (Accumulated amortization:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 393.32 Td (Amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.80 392.42 Td (\(63,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.80 392.42 Td (\(45,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.80 392.42 Td (\(10,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.80 392.47 Td (\(10,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.80 392.47 Td (\(9,860) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.80 392.47 Td (\(3,524) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 392.47 Td (\(540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 392.47 Td (\(143,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 392.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 378.32 Td (Foreign) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 368.32 Td (exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.80 368.42 Td (\(8,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.80 368.42 Td (\(3,868) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.30 368.42 Td (\(499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.30 368.47 Td (\(984) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.30 368.47 Td (\(718) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.80 368.47 Td (\(1,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.30 368.47 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 368.47 Td (\(16,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 368.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 354.32 Td (Other) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 103.77 358.85 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.15 350.42 Td (5,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.15 350.42 Td (2,969) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 350.42 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.65 350.42 Td (8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.65 350.42 Td (312) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.65 350.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 350.42 Td (342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 350.42 Td (8,708) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 336.32 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 326.32 Td (change) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.80 325.42 Td (\(67,267) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.80 325.42 Td (\(46,587) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.80 325.42 Td (\(10,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.80 325.47 Td (\(11,383) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 325.47 Td (\(10,266) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.80 325.47 Td (\(4,909) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.30 325.47 Td (\(204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 325.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 325.47 Td (\(151,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 325.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.00 311.43 Td (Balance as of September 30, 2017:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 297.32 Td (Gross carrying) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 287.32 Td (amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.10 286.42 Td (770,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.10 286.42 Td (430,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.10 286.42 Td (131,204) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.10 286.42 Td (68,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 286.42 Td (68,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 286.42 Td (57,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 286.42 Td (3,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.60 286.42 Td (1,529,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.00 272.32 Td (Accumulated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.00 262.32 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.80 261.42 Td (\(384,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.80 261.42 Td (\(260,372) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.80 261.42 Td (\(34,221) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.80 261.47 Td (\(33,482) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.80 261.47 Td (\(23,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.80 261.47 Td (\(34,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 261.47 Td (\(2,294) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.80 261.47 Td (\(772,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.65 261.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 247.32 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.10 246.42 Td (386,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.10 246.42 Td (170,332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 246.42 Td (96,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.10 246.42 Td (34,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.10 246.42 Td (44,197) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 246.42 Td (22,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.10 246.42 Td (1,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.00 246.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.10 246.42 Td (756,909) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 230.25 Td (______________) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 49.50 222.78 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.33 218.25 Td (Other includes netdowns of fully amortized assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 200.25 Td (Included in the current year acquisitions amounts above are definite-lived intangible assets primarily associated with the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (acquisitions of an artist management business located in the United States, a concert promotion business located in Italy and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.25 Td (various ticketing businesses located in the United States and the Czech Republic. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 158.25 Td (Included in the prior year acquisitions amounts above are changes primarily associated with the acquisitions of festival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (promotion businesses located in the United States and ) Tj ET Q q 0 0 0 rg BT 267.24 146.25 Td (Australia.) Tj ET Q endstream endobj 25 0 obj <>] /Rotate 0 /Contents 26 0 R>> endobj 26 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 742.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.05 742.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.05 742.10 Td ( additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 171.00 696.60 200.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 696.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 171.00 666.60 200.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 666.60 69.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 696.6 m 440 696.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 387.40 716.83 Td (W) Tj ET Q q 0 0 0 rg BT 394.96 716.83 Td (eighted-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 391.05 708.83 Td (A) Tj ET Q q 0 0 0 rg BT 396.23 708.83 Td (verage) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 385.30 700.83 Td (Life\(years\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 687.17 Td (Client/vendor relationships) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.50 686.27 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 672.17 Td (Technology) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.50 671.27 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 657.17 Td (Venue management and leaseholds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.50 656.27 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.50 642.17 Td (All categories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.50 641.27 Td (5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 619.10 Td (Amortization of definite-lived intangible assets for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.71 619.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.70 619.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.53 619.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.79 619.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.23 619.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.23 619.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.78 619.10 Td ($53.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 607.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 607.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.83 607.10 Td ($47.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.72 607.10 Td ( for each respective period, and for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.59 607.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.81 607.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.63 607.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.90 607.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.34 607.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.34 607.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.89 607.10 Td ($143.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 595.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 595.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.83 595.10 Td ($133.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.72 595.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 209.38 595.10 Td (. ) Tj ET Q q 0 0 0 rg BT 213.83 595.10 Td (Amortization related to nonrecoupable ticketing contract advances for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.21 595.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.19 595.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 583.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.83 583.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.09 583.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.53 583.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.53 583.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.08 583.10 Td ($20.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.97 583.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.41 583.10 Td ($20.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.30 583.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 427.96 583.10 Td (, and for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.78 583.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.99 583.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 571.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.76 571.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.20 571.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.20 571.10 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.75 571.10 Td ($54.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.65 571.10 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.08 571.10 Td ($57.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.98 571.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 369.64 571.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 553.10 Td (As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 541.10 Td (completed, amortization may vary) Tj ET Q q 0 0 0 rg BT 186.02 541.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 523.10 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 505.10 Td (In 2016, the Company) Tj ET Q q 0 0 0 rg BT 165.71 505.10 Td (s reportable segments were Concerts, Sponsorship & ) Tj ET Q q 0 0 0 rg BT 379.01 505.10 Td (Advertising, ) Tj ET Q q 0 0 0 rg BT 431.04 505.10 Td (T) Tj ET Q q 0 0 0 rg BT 436.80 505.10 Td (icketing and ) Tj ET Q q 0 0 0 rg BT 487.90 505.10 Td (Artist Nation. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 493.10 Td (Beginning in 2017, the Company no longer presents ) Tj ET Q q 0 0 0 rg BT 260.31 493.10 Td (Artist Nation as a reportable segment and now includes the business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 481.10 Td (previously reported in the ) Tj ET Q q 0 0 0 rg BT 154.48 481.10 Td (Artist Nation segment in the Concerts segment. See further discussion of the segment change in Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 469.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 54.50 469.10 Td (Segment Data. ) Tj ET Q q 0 0 0 rg BT 125.69 469.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 185.40 469.10 Td (s reporting units reviewed for goodwill impairment remain unchanged.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 451.10 Td (The following table presents the changes in the carrying amount of goodwill in each of the Company) Tj ET Q q 0 0 0 rg BT 480.06 451.10 Td (s reportable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 439.10 Td (segments for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.09 439.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.31 439.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.14 439.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.40 439.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 380.60 177.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 380.60 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 380.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 380.60 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 380.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 380.60 53.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 380.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 380.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 351.60 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 351.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 351.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 351.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 351.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 351.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 351.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 351.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 321.60 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 321.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 321.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 321.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 321.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 321.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 291.60 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 291.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 291.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 291.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 291.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 291.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 262.60 177.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 262.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 262.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 262.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 262.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 262.60 53.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 262.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 262.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 104.00 232.60 177.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 232.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 232.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 232.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 232.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 232.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 232.60 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 232.60 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 393.6 m 334 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 393.6 m 391 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 393.6 m 448 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 393.6 m 507 393.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 336.6 m 334 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 336.6 m 391 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 336.6 m 448 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 336.6 m 507 336.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 321.6 m 334 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 321.6 m 391 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 321.6 m 448 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 321.6 m 507 321.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 232.60000000000002 m 334 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 232.60000000000002 m 391 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 232.60000000000002 m 448 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 232.60000000000002 m 507 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 220.60000000000002 m 334 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 218.60000000000002 m 334 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 220.60000000000002 m 391 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 218.60000000000002 m 391 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 220.60000000000002 m 448 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 218.60000000000002 m 448 218.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 220.60000000000002 m 507 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 218.60000000000002 m 507 218.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 291.65 397.83 Td (Concerts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 342.85 413.83 Td (Sponsorship) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.65 405.83 Td (& ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 344.00 397.83 Td (Advertising) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 404.80 397.83 Td (Ticketing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.25 397.83 Td (Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 370.50 384.85 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.50 371.33 Td (Balance as of December 31, 2016:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 357.17 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.10 356.27 Td (1,017,020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.50 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 356.27 Td (395,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.50 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.60 356.27 Td (739,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 356.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.10 356.27 Td (2,151,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 342.17 Td (Accumulated impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.30 341.27 Td (\(404,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 341.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 341.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 341.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.30 341.32 Td (\(404,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 341.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.50 327.17 Td ( Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.60 326.27 Td (612,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 326.27 Td (395,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.60 326.27 Td (739,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.10 326.27 Td (1,747,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 312.17 Td (Acquisitionscurrent year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 311.27 Td (8,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 311.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.65 311.27 Td (11,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 311.27 Td (19,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 297.17 Td (Acquisitionsprior year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.30 296.27 Td (\(22,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 296.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.30 296.32 Td (\(9,821) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 296.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.15 296.27 Td (882) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 296.32 Td (\(31,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 296.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 282.17 Td (Foreign exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.65 281.27 Td (9,765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.65 281.27 Td (9,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.65 281.27 Td (9,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 281.27 Td (28,960) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.50 267.33 Td (Balance as of September 30, 2017:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 253.17 Td (Goodwill) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.10 252.27 Td (1,012,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 252.27 Td (395,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.60 252.27 Td (760,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.10 252.27 Td (2,169,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.50 238.17 Td (Accumulated impairment losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.30 237.27 Td (\(404,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 330.15 237.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.15 237.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.15 237.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.30 237.32 Td (\(404,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 237.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.50 223.17 Td ( Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 223.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.60 223.17 Td (608,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.50 223.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.60 223.17 Td (395,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.50 223.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.60 223.17 Td (760,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.50 223.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.10 223.17 Td (1,764,512) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 202.10 Td (Included in the current year acquisitions amounts above is goodwill associated with the acquisitions of various ticketing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (businesses located in the United States, an artist management business located in the United States and a concert promotion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 178.10 Td (business located in Italy) Tj ET Q q 0 0 0 rg BT 145.22 178.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 160.10 Td (Included in the prior year acquisitions amounts above are changes primarily associated with the acquisitions of festival ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 148.10 Td (promotion businesses located in the United States and ) Tj ET Q q 0 0 0 rg BT 267.24 148.10 Td (Australia.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 130.10 Td (The Company is in various stages of finalizing its acquisition accounting for recent acquisitions, which include the use of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 118.10 Td (external valuation consultants, and the completion of this accounting could result in a change to the associated purchase price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 106.10 Td (allocations, including goodwill and its allocation between segments.) Tj ET Q endstream endobj 27 0 obj <>] /Rotate 0 /Contents 28 0 R>> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.15 31.60 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 31.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (NOTE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.84 742.25 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.84 742.25 Td (F) Tj ET Q q 0 0 0 rg BT 101.21 742.25 Td (AIR ) Tj ET Q q 0 0 0 rg BT 121.86 742.25 Td (V) Tj ET Q q 0 0 0 rg BT 127.79 742.25 Td (ALUE MEASUREMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (The following table shows the fair value of the Company) Tj ET Q q 0 0 0 rg BT 305.33 724.25 Td (s significant financial assets that are required to be measured at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (fair value on a recurring basis, which are classified on the balance sheets as cash and cash equivalents:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 159.50 643.75 116.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 643.75 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.50 643.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.50 643.75 98.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 682.75 m 373.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 682.75 m 377.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 682.75 m 475.5 682.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 669.75 m 373.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 669.75 m 475.5 669.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 656.75 m 373.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373.5 656.75 m 377.5 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377.5 656.75 m 475.5 656.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.80 686.98 Td (Fair Value Measurements at) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.60 673.98 Td (September 30, 2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.75 673.98 Td (December 31, 2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 362.65 660.98 Td (Level 1) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 352.00 648.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 633.42 Td (Assets:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.00 618.42 Td ( Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.00 618.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.15 618.42 Td (109,722) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.00 618.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.15 618.42 Td (55,081) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 596.25 Td (The Company has cash equivalents which consist of money market funds. Fair values for cash equivalents are based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 584.25 Td (quoted prices in an active market which are considered to be Level 1 inputs as defined in the F) Tj ET Q q 0 0 0 rg BT 427.47 584.25 Td (ASB guidance.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 566.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 133.71 566.25 Td (s outstanding debt held by third-party financial institutions is carried at cost, adjusted for any discounts or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 554.25 Td (debt issuance costs. ) Tj ET Q q 0 0 0 rg BT 130.91 554.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 190.63 554.25 Td (s debt is not publicly traded and the carrying amounts typically approximate fair value for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 542.25 Td (debt that accrues interest at a variable rate, which are considered to be Level 2 inputs as defined in the F) Tj ET Q q 0 0 0 rg BT 465.48 542.25 Td (ASB guidance. ) Tj ET Q q 0 0 0 rg BT 528.35 542.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 530.25 Td (estimated fair values of the Company) Tj ET Q q 0 0 0 rg BT 202.46 530.25 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.85 530.25 Td (5.375%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.68 530.25 Td ( senior notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.22 530.25 Td (4.875%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.05 530.25 Td ( senior notes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.04 530.25 Td (2.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.87 530.25 Td ( convertible senior notes were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 518.25 Td ($260.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.89 518.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.89 518.25 Td ($596.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.78 518.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.22 518.25 Td ($364.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.11 518.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 303.77 518.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.49 518.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.75 518.25 Td (. ) Tj ET Q q 0 0 0 rg BT 403.57 518.25 Td (The estimated fair values of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 506.25 Td (5.375%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.83 506.25 Td ( senior notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.38 506.25 Td (4.875%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.21 506.25 Td ( senior notes and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.19 506.25 Td (2.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.02 506.25 Td ( convertible senior notes were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.48 506.25 Td ($259.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.37 506.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.37 506.25 Td ($578.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.26 506.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.70 506.25 Td ($294.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 494.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 494.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 131.55 494.25 Td (, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.27 494.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.85 494.25 Td (. ) Tj ET Q q 0 0 0 rg BT 229.67 494.25 Td (The estimated fair value of the Company) Tj ET Q q 0 0 0 rg BT 396.28 494.25 Td (s third-party) Tj ET Q q 0 0 0 rg BT 444.79 494.25 Td (, fixed-rate debt is based on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 482.25 Td (quoted market prices in active markets for the same or similar debt, which are considered to be Level 2 inputs. ) Tj ET Q q 0 0 0 rg BT 494.12 482.25 Td (The Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 470.25 Td (had fixed-rate debt held by noncontrolling interest partners with a face value of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.60 470.25 Td ($37.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.50 470.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.93 470.25 Td ($35.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.83 470.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 458.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 458.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 149.70 458.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.29 458.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 280.95 458.25 Td (. ) Tj ET Q q 0 0 0 rg BT 285.77 458.25 Td (The Company is unable to determine a fair value for this debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 440.25 Td (NOTE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.84 440.25 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.84 440.25 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 177.79 440.25 Td (AND CONTINGENT) Tj ET Q q 0 0 0 rg BT 270.12 440.25 Td ( LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 422.25 Td (In December 2015, a company called Songkick filed an antitrust lawsuit against Live Nation and ) Tj ET Q q 0 0 0 rg BT 462.21 422.25 Td (T) Tj ET Q q 0 0 0 rg BT 467.96 422.25 Td (icketmaster L.L.C. in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 410.25 Td (the U.S. District Court for the Central District of California. ) Tj ET Q q 0 0 0 rg BT 292.27 410.25 Td (The suit alleged, among other complaints, that the defendants ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 398.25 Td (monopolized certain markets and engaged in certain exclusionary and anticompetitive conduct, ultimately causing harm to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 386.25 Td (Songkick in a product market that it refers to as artist presale ticketing services. In the spring of 2016, Live Nation and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.25 Td (T) Tj ET Q q 0 0 0 rg BT 55.76 374.25 Td (icketmaster L.L.C. prevailed in a partial motion to dismiss, and shortly thereafter asserted counterclaims against Songkick, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (alleging that Songkick tortiously interfered with ) Tj ET Q q 0 0 0 rg BT 244.78 362.25 Td (T) Tj ET Q q 0 0 0 rg BT 250.54 362.25 Td (icketmaster) Tj ET Q q 0 0 0 rg BT 297.00 362.25 Td () Tj ET Q q 0 0 0 rg BT 299.78 362.25 Td (s venue contracts. In February 2017, Songkick filed an amended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (complaint, adding claims of trade secret misappropriation, statutory violations and related causes of action, arising from certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (alleged conduct by a former Songkick employee who had gone to work for ) Tj ET Q q 0 0 0 rg BT 352.23 338.25 Td (T) Tj ET Q q 0 0 0 rg BT 357.99 338.25 Td (icketmaster) Tj ET Q q 0 0 0 rg BT 403.53 338.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 320.25 Td (In October 2017, the Court granted in part Live Nation) Tj ET Q q 0 0 0 rg BT 294.66 320.25 Td (s motion to prevent Songkick) Tj ET Q q 0 0 0 rg BT 415.21 320.25 Td (s damages expert from testifying, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 308.25 Td (but declined to grant Live Nation) Tj ET Q q 0 0 0 rg BT 185.80 308.25 Td (s motion for summary judgement. Following those rulings, Songkick is solely left with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 296.25 Td (antitrust claim \(subject to treble damages\) for lost profits, tort claims seeking the same lost profits, and a claim for unjust ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 284.25 Td (enrichment damages arising from alleged trade secret misappropriation. ) Tj ET Q q 0 0 0 rg BT 339.43 284.25 Td (T) Tj ET Q q 0 0 0 rg BT 345.19 284.25 Td (rial has been set for January 2018. ) Tj ET Q q 0 0 0 rg BT 484.41 284.25 Td (While the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 272.25 Td (Company remains confident in its case and does not believe that a loss is probable of occurring at this time, if the Company is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 260.25 Td (ultimately unsuccessful on any or all claims, the amounts at stake could be material. ) Tj ET Q q 0 0 0 rg BT 388.61 260.25 Td (The Company is currently unable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 248.25 Td (estimate the possible loss or range of loss for this matter because of the uncertainty regarding the outcome of the claims and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 236.25 Td (damages asserted against the Company) Tj ET Q q 0 0 0 rg BT 205.97 236.25 Td (.) Tj ET Q endstream endobj 29 0 obj <>] /Rotate 0 /Contents 30 0 R>> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (NOTE 5EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 724.25 Td (The following table shows the reconciliation of the carrying amount of stockholders) Tj ET Q q 0 0 0 rg BT 410.89 724.25 Td ( equity attributable to Live Nation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (equity attributable to noncontrolling interests, total equity and also redeemable noncontrolling interests for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 712.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.21 712.25 Td ( months ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 700.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.88 700.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 156.14 700.25 Td (:) Tj ET Q 0 0 0 rg /GS0 gs 481.25 683.75 4.00 -29.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 654.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 641.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 641.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 641.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 641.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 641.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 641.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 641.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 641.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 626.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 611.75 218.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 611.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 611.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 611.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 611.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 611.75 65.00 -25.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 611.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 611.75 65.00 -25.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 586.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 571.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 571.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 571.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 571.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 571.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 571.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 571.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 571.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 556.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 541.75 218.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 541.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 541.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 541.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 541.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 541.75 65.00 -25.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 541.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 541.75 65.00 -25.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 516.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 501.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 501.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 501.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 501.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 501.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 501.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 501.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 501.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 486.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 471.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 471.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 471.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 471.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 471.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 471.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 471.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 471.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 456.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 441.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 441.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 441.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 441.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 441.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 441.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 441.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 441.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 426.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 60.25 411.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.25 411.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.25 411.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 347.25 411.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.25 411.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.25 411.75 65.00 -15.00 re f /GS0 gs 0 0 0 rg /GS0 gs 481.25 411.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.25 411.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.25 654.75 m 343.25 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.25 654.75 m 412.25 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.25 654.75 m 481.25 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.25 654.75 m 550.25 654.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.25 411.75 m 343.25 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.25 397.75 m 343.25 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278.25 395.75 m 343.25 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.25 411.75 m 412.25 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.25 397.75 m 412.25 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347.25 395.75 m 412.25 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.25 411.75 m 481.25 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.25 397.75 m 481.25 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416.25 395.75 m 481.25 395.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.25 411.75 m 550.25 411.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.25 397.75 m 550.25 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.25 395.75 m 550.25 395.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 290.10 674.98 Td (Live Nation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 286.95 666.98 Td (Stockholders) Tj ET Q q 0 0 0 rg BT 333.47 666.98 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.65 658.98 Td (Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 353.50 666.98 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 385.80 666.98 Td (olling) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.40 658.98 Td (Inter) Tj ET Q q 0 0 0 rg BT 381.58 658.98 Td (ests) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 439.50 666.98 Td (T) Tj ET Q q 0 0 0 rg BT 444.10 666.98 Td (otal) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 436.65 658.98 Td (Equity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 496.35 674.98 Td (Redeemable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 491.50 666.98 Td (Noncontr) Tj ET Q q 0 0 0 rg BT 523.80 666.98 Td (olling) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 502.40 658.98 Td (Inter) Tj ET Q q 0 0 0 rg BT 519.58 658.98 Td (ests) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.25 646.00 Td (\(in thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 494.25 646.00 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.75 631.43 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.75 631.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.40 631.42 Td (1,126,016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.75 631.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.90 631.42 Td (223,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.75 631.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.40 631.42 Td (1,349,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.75 631.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.90 631.42 Td (347,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 616.42 Td (Non-cash compensation expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.90 616.42 Td (23,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 616.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.90 616.42 Td (23,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.40 616.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 601.42 Td (Common stock issued under stock plans, net of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.75 591.42 Td (shares withheld for employee taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.55 591.47 Td (\(5,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.40 591.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 591.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.55 591.47 Td (\(5,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.40 591.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.40 591.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 576.42 Td (Exercise of stock options) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.90 576.42 Td (44,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 576.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.90 576.42 Td (44,746) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.40 576.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 561.42 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.40 561.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.90 561.42 Td (6,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 561.42 Td (6,036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.55 561.47 Td (\(1,985) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 561.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 546.42 Td (Purchases of noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.55 546.47 Td (\(1,402) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.40 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.55 546.47 Td (\(1,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.40 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.55 546.47 Td (\(2,996) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.40 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.55 546.47 Td (\(1,329) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 531.42 Td (Redeemable noncontrolling interests fair value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.75 521.42 Td (adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.55 521.47 Td (\(52,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.40 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 521.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.55 521.47 Td (\(52,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.40 521.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.90 521.42 Td (52,811) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 506.42 Td (Contributions received) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.40 506.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.90 506.42 Td (7,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 506.42 Td (7,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.40 506.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 491.42 Td (Cash distributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.40 491.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.55 491.47 Td (\(8,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.40 491.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.55 491.47 Td (\(8,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.40 491.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.55 491.47 Td (\(14,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 491.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 476.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.40 476.42 Td (114) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.40 476.42 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.40 476.42 Td (591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.55 476.47 Td (\(1,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 476.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.75 461.42 Td (Comprehensive income \(loss\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.75 446.42 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.90 446.42 Td (184,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.90 446.42 Td (7,404) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.90 446.42 Td (192,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.55 446.47 Td (\(10,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.40 446.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.75 431.42 Td (Foreign currency translation adjustments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.90 431.42 Td (58,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 431.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.90 431.42 Td (58,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.75 417.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.40 416.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.40 416.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.40 416.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.40 416.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.75 401.43 Td (Balance at September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.75 401.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.40 401.42 Td (1,378,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.75 401.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.90 401.42 Td (235,568) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.75 401.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.40 401.42 Td (1,614,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.75 401.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.90 401.42 Td (370,277) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 379.25 Td (Accumulated Other Comprehensive Loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 361.25 Td (The following table presents changes in the components of ) Tj ET Q q 0 0 0 rg BT 309.44 361.25 Td (AOCI, net of taxes, for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.86 361.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.07 361.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.90 361.25 Td (September30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 349.25 Td (:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.25 227.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 99.75 296.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.75 296.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.75 296.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.75 296.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.75 296.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.75 296.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 99.75 256.75 218.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.75 256.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.75 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.75 256.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.75 256.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.75 256.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.75 311.75 m 382.75 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.75 311.75 m 451.75 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.75 311.75 m 520.75 311.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.75 256.75 m 382.75 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.75 256.75 m 451.75 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.75 256.75 m 520.75 256.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.75 241.75 m 382.75 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.75 227.75 m 382.75 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317.75 225.75 m 382.75 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.75 241.75 m 451.75 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.75 227.75 m 451.75 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386.75 225.75 m 451.75 225.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.75 241.75 m 520.75 241.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.75 227.75 m 520.75 227.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.75 225.75 m 520.75 225.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.45 323.98 Td (Foreign) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 322.80 315.98 Td (Currency Items) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.60 315.98 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.00 315.98 Td (Total) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 395.75 301.00 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.25 286.43 Td (Balance at December 31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.25 286.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.05 286.47 Td (\(176,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.90 286.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.25 286.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.55 286.47 Td (\(461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.90 286.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.25 286.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.05 286.47 Td (\(176,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.90 286.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.25 271.42 Td (Other comprehensive income before) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.25 261.42 Td (reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.40 261.42 Td (58,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.90 261.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.40 261.42 Td (58,841) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.25 246.42 Td (Net other comprehensive income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.40 246.42 Td (58,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.90 246.42 Td (80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.40 246.42 Td (58,841) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.25 231.43 Td (Balance at September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.25 231.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.05 231.47 Td (\(117,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.90 231.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.25 231.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.55 231.47 Td (\(381) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.90 231.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.25 231.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.05 231.47 Td (\(117,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.90 231.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.00 209.25 Td (Earnings Per Share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 191.25 Td (Basic net income \(loss\) per common share is computed by dividing the net income \(loss\) available to common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.25 Td (stockholders by the weighted average number of common shares outstanding during the period. ) Tj ET Q q 0 0 0 rg BT 434.22 179.25 Td (The calculation of diluted net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 167.25 Td (income \(loss\) per common share includes the ef) Tj ET Q q 0 0 0 rg BT 240.65 167.25 Td (fects of the assumed exercise of any outstanding stock options, the assumed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 155.25 Td (vesting of shares of restricted stock awards and the assumed conversion of the convertible senior notes where dilutive. ) Tj ET Q endstream endobj 31 0 obj <>] /Rotate 0 /Contents 32 0 R>> endobj 32 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 742.10 Td (The following table sets forth the computation of weighted average common shares outstanding:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 692.60 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.25 692.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.25 692.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.25 692.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 692.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.25 692.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.25 692.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.25 692.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 662.60 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.25 662.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.25 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.25 662.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.25 662.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.25 662.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.25 662.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 632.60 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.25 632.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.25 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.25 632.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.25 632.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.25 632.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.25 632.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 707.6 m 354.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.25 707.6 m 358.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 707.6 m 423.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 707.6 m 492.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.25 707.6 m 496.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 707.6 m 561.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 707.6 m 354.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 692.6 m 354.25 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 707.6 m 423.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 692.6 m 423.25 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 707.6 m 492.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 692.6 m 492.25 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 707.6 m 561.25 707.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 692.6 m 561.25 692.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 632.6 m 354.25 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 632.6 m 423.25 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 632.6 m 492.25 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 632.6 m 561.25 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 618.6 m 354.25 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 616.6 m 354.25 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 618.6 m 423.25 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 616.6 m 423.25 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 618.6 m 492.25 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 616.6 m 492.25 616.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 618.6 m 561.25 618.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 616.6 m 561.25 616.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.35 717.68 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.35 709.73 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.50 717.68 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.35 709.73 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.25 696.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 696.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.25 696.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.25 696.83 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 682.27 Td (Weighted average common sharesbasic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.35 682.27 Td (205,287,843) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.35 682.27 Td (202,118,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.35 682.27 Td (204,574,742) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.35 682.27 Td (201,904,305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 667.27 Td (Effect of dilutive securities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 652.27 Td ( Stock options and restricted stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.40 652.27 Td (9,914,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.40 652.27 Td (7,641,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.40 652.27 Td (9,311,710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.40 652.27 Td (6,951,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 637.27 Td ( Convertible senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.40 637.27 Td (7,929,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.40 637.27 Td (7,929,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.40 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.40 637.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 622.27 Td (Weighted average common sharesdiluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.35 622.27 Td (223,132,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.35 622.27 Td (217,690,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.35 622.27 Td (213,886,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.35 622.27 Td (208,855,401) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 600.10 Td (The following table shows securities excluded from the calculation of diluted net income \(loss\) per common share ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 588.10 Td (because such securities are anti-dilutive:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 522.60 240.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.25 522.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.25 522.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.25 522.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 522.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.25 522.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.25 522.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.25 522.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 492.60 240.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.25 492.60 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.25 492.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.25 492.60 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.25 492.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.25 492.60 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.25 492.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.25 492.60 65.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 550.6 m 354.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.25 550.6 m 358.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 550.6 m 423.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 550.6 m 492.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.25 550.6 m 496.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 550.6 m 561.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 550.6 m 354.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 537.6 m 354.25 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 550.6 m 423.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 537.6 m 423.25 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 550.6 m 492.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 537.6 m 492.25 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 550.6 m 561.25 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 537.6 m 561.25 537.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 492.6 m 354.25 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 492.6 m 423.25 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 492.6 m 492.25 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 492.6 m 561.25 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 468.6 m 354.25 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.25 466.6 m 354.25 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 468.6 m 423.25 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.25 466.6 m 423.25 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 468.6 m 492.25 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.25 466.6 m 492.25 466.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 468.6 m 561.25 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.25 466.6 m 561.25 466.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.35 562.83 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 326.35 554.83 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.50 562.83 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.35 554.83 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.25 541.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 382.25 541.83 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.25 541.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.25 541.83 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 528.17 Td (Options to purchase shares of common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.90 527.27 Td (8,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.40 527.27 Td (1,726,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.90 527.27 Td (810,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.40 527.27 Td (5,309,138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 513.17 Td (Restricted stock awardsunvested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.90 512.27 Td (196,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.90 512.27 Td (316,810) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.90 512.27 Td (219,084) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.90 512.27 Td (319,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 498.17 Td (Conversion shares related to the convertible senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.40 497.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.40 497.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.40 497.27 Td (7,929,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.40 497.27 Td (7,929,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 482.27 Td (Number of anti-dilutive potentially issuable shares) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.75 472.27 Td (excluded from diluted common shares outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.90 472.27 Td (204,484) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.40 472.27 Td (2,043,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.40 472.27 Td (8,959,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.35 472.27 Td (13,558,430) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 450.10 Td (NOTE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.84 450.10 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.84 450.10 Td (SEGMENT) Tj ET Q q 0 0 0 rg BT 145.67 450.10 Td ( DA) Tj ET Q q 0 0 0 rg BT 161.87 450.10 Td (T) Tj ET Q q 0 0 0 rg BT 167.80 450.10 Td (A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 432.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 133.71 432.10 Td (s reportable segments are Concerts, Sponsorship& ) Tj ET Q q 0 0 0 rg BT 339.79 432.10 Td (Advertising and ) Tj ET Q q 0 0 0 rg BT 406.26 432.10 Td (T) Tj ET Q q 0 0 0 rg BT 412.02 432.10 Td (icketing. Prior to 2017, the Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 420.10 Td (reported an ) Tj ET Q q 0 0 0 rg BT 97.20 420.10 Td (Artist Nation segment, which is now included in its Concerts segment based on the Company) Tj ET Q q 0 0 0 rg BT 473.54 420.10 Td (s belief that the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 408.10 Td (strategy behind artist management is to provide a full range of services related to concert promotion and to expand the Concerts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 396.10 Td (line of business. In connection with this, there has been a change in the way the chief operating decision maker) Tj ET Q q 0 0 0 rg BT 493.62 396.10 Td (, as defined in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.10 Td (the F) Tj ET Q q 0 0 0 rg BT 69.54 384.10 Td (ASB guidance, makes decisions around allocations of resources and management responsibilities for this business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 366.10 Td (The Concerts segment involves the promotion of live music events globally in the Company) Tj ET Q q 0 0 0 rg BT 445.88 366.10 Td (s owned or operated venues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.10 Td (and in rented third-party venues, the production of music festivals, the operation and management of music venues, the creation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 342.10 Td (of associated content and the provision of management and other services to artists. ) Tj ET Q q 0 0 0 rg BT 386.39 342.10 Td (The Sponsorship& ) Tj ET Q q 0 0 0 rg BT 466.11 342.10 Td (Advertising segment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.10 Td (manages the development of strategic sponsorship programs in addition to the sale of international, national and local ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.10 Td (sponsorships and the placement of advertising such as signage, promotional programs, rich media of) Tj ET Q q 0 0 0 rg BT 451.67 318.10 Td (ferings, including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.10 Td (advertising associated with live streaming and music-related original content, and ads across the Company) Tj ET Q q 0 0 0 rg BT 478.77 306.10 Td (s distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.10 Td (network of venues, events and websites. ) Tj ET Q q 0 0 0 rg BT 213.11 294.10 Td (The ) Tj ET Q q 0 0 0 rg BT 230.98 294.10 Td (T) Tj ET Q q 0 0 0 rg BT 236.73 294.10 Td (icketing segment involves the management of the Company) Tj ET Q q 0 0 0 rg BT 479.17 294.10 Td (s global ticketing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.10 Td (operations, including providing ticketing software and services to clients, ticket resale services and online access for customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.10 Td (relating to ticket and event information, and is responsible for the Company) Tj ET Q q 0 0 0 rg BT 356.04 270.10 Td (s primary ticketing website, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.62 270.10 Td (www) Tj ET Q q 0 0 0 rg BT 488.89 270.10 Td (.ticketmaster) Tj ET Q q 0 0 0 rg BT 539.15 270.10 Td (.com) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.31 270.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 252.10 Td (Revenue and expenses earned and char) Tj ET Q q 0 0 0 rg BT 230.13 252.10 Td (ged between segments are eliminated in consolidation. ) Tj ET Q q 0 0 0 rg BT 451.00 252.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 510.71 252.10 Td (s capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.10 Td (expenditures below include accruals for amounts incurred but not yet paid for) Tj ET Q q 0 0 0 rg BT 360.33 240.10 Td (, but are not reduced by reimbursements received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.10 Td (from outside parties such as landlords or replacements funded by insurance proceeds.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 210.10 Td (The Company manages its working capital on a consolidated basis. ) Tj ET Q q 0 0 0 rg BT 344.78 210.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 394.11 210.10 Td (, segment assets are not reported to, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.10 Td (used by) Tj ET Q q 0 0 0 rg BT 80.18 198.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 141.56 198.10 Td (s management to allocate resources to or assess performance of the segments, and therefore, total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.10 Td (segment assets have not been presented.) Tj ET Q endstream endobj 33 0 obj <>] /Rotate 0 /Contents 34 0 R>> endobj 34 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 742.10 Td (The following table presents the results of operations for the Company) Tj ET Q q 0 0 0 rg BT 359.49 742.10 Td (s reportable segments for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.51 742.10 Td (three and nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.15 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.33 730.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.59 730.10 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-42.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 292.60 4.00 -42.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 292.60 59.00 -42.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 227.60 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 227.60 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 227.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 227.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 227.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 227.60 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 227.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 227.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 227.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 227.60 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 227.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 227.60 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 227.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 227.60 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 177.60 243.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 177.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 177.60 40.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 177.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 177.60 48.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 177.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 177.60 50.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 177.60 4.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 177.60 59.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 142.60 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 142.60 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 142.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 142.60 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 142.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 142.60 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 142.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 142.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 142.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 142.60 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 142.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 142.60 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 142.60 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 142.60 59.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 691.6 m 203.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 691.6 m 263.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 691.6 m 320.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 691.6 m 364.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 691.6 m 416.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 691.6 m 470.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 691.6 m 533.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 691.6 m 203.5 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 478.6 m 203.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 478.6 m 263.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 478.6 m 320.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 478.6 m 364.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 478.6 m 416.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 478.6 m 470.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 478.6 m 533.5 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 454.6 m 203.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 452.6 m 203.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 454.6 m 263.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 452.6 m 263.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 454.6 m 320.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 452.6 m 320.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 454.6 m 364.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 452.6 m 364.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 454.6 m 416.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 452.6 m 416.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 454.6 m 470.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 452.6 m 470.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 454.6 m 533.5 454.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 452.6 m 533.5 452.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 227.60000000000002 m 203.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 227.60000000000002 m 263.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 227.60000000000002 m 320.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 227.60000000000002 m 364.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 227.60000000000002 m 416.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 227.60000000000002 m 470.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 227.60000000000002 m 533.5 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 203.60000000000002 m 203.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 201.60000000000002 m 203.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 203.60000000000002 m 263.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 201.60000000000002 m 263.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 203.60000000000002 m 320.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 201.60000000000002 m 320.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 203.60000000000002 m 364.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 201.60000000000002 m 364.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 203.60000000000002 m 416.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 201.60000000000002 m 416.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 203.60000000000002 m 470.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 201.60000000000002 m 470.5 201.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 203.60000000000002 m 533.5 203.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 201.60000000000002 m 533.5 201.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 161.15 695.83 Td (Concerts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.85 703.83 Td (Sponsorship) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.85 695.83 Td (&) Tj ET Q q 0 0 0 rg BT 219.07 695.83 Td (Advertising) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.30 695.83 Td (T) Tj ET Q q 0 0 0 rg BT 282.49 695.83 Td (icketing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.85 695.83 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.20 695.83 Td (Corporate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.20 695.83 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.05 695.83 Td (Consolidated) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 318.50 682.85 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.00 666.33 Td (Three Months Ended September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 649.17 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 648.27 Td (2,939,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 648.27 Td (157,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 648.27 Td (532,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 648.27 Td (6,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 648.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 648.32 Td (\(76,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 648.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 648.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 648.27 Td (3,559,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 634.17 Td (Direct operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 624.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 623.27 Td (2,497,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 623.27 Td (23,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 623.27 Td (283,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 623.27 Td (4,477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 623.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 623.32 Td (\(75,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 623.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 623.27 Td (2,732,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 609.17 Td (Selling, general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 599.17 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 589.17 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 579.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 580.27 Td (305,494) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 580.27 Td (21,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 580.27 Td (144,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 580.27 Td (4,428) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 580.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 580.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 580.27 Td (475,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 566.17 Td (Depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 556.17 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 546.22 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 549.27 Td (52,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.15 549.27 Td (6,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 549.27 Td (50,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 549.27 Td (115) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 549.27 Td (1,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.80 549.32 Td (\(1,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 549.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 549.27 Td (109,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 535.17 Td (Loss \(gain\) on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 525.17 Td (disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 515.17 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 505.22 Td (assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.30 507.27 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.65 507.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 507.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 507.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 507.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 507.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 507.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 507.27 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 493.17 Td (Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 483.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 483.27 Td (39,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 483.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 483.27 Td (39,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 469.17 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 459.17 Td (income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 458.27 Td (84,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 458.27 Td (106,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 458.27 Td (54,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.80 458.32 Td (\(2,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 458.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.80 458.32 Td (\(41,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 458.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 458.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 458.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 458.27 Td (201,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 444.17 Td (Intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 434.17 Td (revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 433.27 Td (73,494) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 433.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 433.27 Td (3,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 433.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 433.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 433.32 Td (\(76,780) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 433.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 433.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 433.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.00 416.33 Td (Three Months Ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 399.17 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 398.27 Td (2,644,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 398.27 Td (136,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 398.27 Td (456,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 398.27 Td (2,138) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 398.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 398.32 Td (\(68,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 398.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 398.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 398.27 Td (3,170,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 384.17 Td (Direct operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 374.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 373.27 Td (2,247,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 373.27 Td (15,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 373.27 Td (231,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 373.27 Td (149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 373.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 373.32 Td (\(67,611) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 373.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 373.27 Td (2,428,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 359.17 Td (Selling, general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 349.17 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 339.17 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 329.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 330.27 Td (265,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 330.27 Td (20,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 330.27 Td (124,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 330.27 Td (4,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 330.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 330.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 330.27 Td (414,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 316.17 Td (Depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 306.17 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 296.17 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 297.27 Td (52,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.15 297.27 Td (4,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 297.27 Td (47,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 297.27 Td (1,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 297.27 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 297.32 Td (\(792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 297.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 297.27 Td (104,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 283.17 Td (Loss \(gain\) on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 273.17 Td (disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 263.17 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 253.22 Td (assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.65 255.27 Td (241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 255.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 255.27 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 255.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.30 255.32 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 255.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 255.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.65 255.27 Td (253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 241.17 Td (Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 231.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 232.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 232.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 232.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 232.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 232.27 Td (31,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 232.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 232.27 Td (31,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 218.17 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 208.17 Td (income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 207.27 Td (78,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 207.27 Td (95,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 207.27 Td (53,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.80 207.32 Td (\(3,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 207.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.80 207.32 Td (\(32,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 207.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 207.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 207.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 207.27 Td (191,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 193.17 Td (Intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 183.17 Td (revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 182.27 Td (64,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 182.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 182.27 Td (3,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 182.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 182.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.80 182.32 Td (\(68,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 182.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 182.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 182.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.00 165.33 Td (Nine Months Ended September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 148.17 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 147.27 Td (6,052,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 147.27 Td (346,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 147.27 Td (1,510,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 147.27 Td (13,259) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 147.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 147.32 Td (\(131,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 147.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 147.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 147.27 Td (7,791,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 133.17 Td (Direct operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 123.17 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 122.27 Td (5,057,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 122.27 Td (60,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 122.27 Td (805,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 122.27 Td (5,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 122.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 122.32 Td (\(128,506) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 122.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 122.27 Td (5,801,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 108.17 Td (Selling, general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 98.17 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 88.17 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 78.22 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 80.27 Td (804,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 80.27 Td (62,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 80.27 Td (411,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 80.27 Td (14,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 80.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 80.27 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 80.27 Td (1,293,557) Tj ET Q endstream endobj 35 0 obj <>] /Rotate 0 /Contents 36 0 R>> endobj 36 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (15) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 725.5 m 203.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 725.5 m 263.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 725.5 m 320.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 725.5 m 364.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 725.5 m 416.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 725.5 m 470.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 725.5 m 533.5 725.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 725.5 m 203.5 725.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 161.15 729.73 Td (Concerts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 213.85 737.73 Td (Sponsorship) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 210.85 729.73 Td (&) Tj ET Q q 0 0 0 rg BT 219.07 729.73 Td (Advertising) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 277.30 729.73 Td (T) Tj ET Q q 0 0 0 rg BT 282.49 729.73 Td (icketing) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 333.85 729.73 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.20 729.73 Td (Corporate) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.20 729.73 Td (Eliminations) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.05 729.73 Td (Consolidated) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 318.50 716.75 Td (\(in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 712.50 73.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 712.50 53.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 712.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 712.50 56.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 712.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 712.50 53.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 712.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 712.50 40.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 712.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 712.50 48.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 712.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 712.50 50.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 712.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 712.50 59.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 638.50 73.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 638.50 53.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 638.50 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 638.50 56.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 638.50 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 638.50 53.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 638.50 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 638.50 40.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 638.50 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 638.50 48.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 638.50 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 638.50 50.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 638.50 4.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 638.50 59.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 591.50 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 591.50 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 591.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 591.50 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 591.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 591.50 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 591.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 591.50 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 591.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 591.50 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 591.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 591.50 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 591.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 591.50 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 541.50 243.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 541.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 541.50 40.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 541.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 541.50 48.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 541.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 541.50 50.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 541.50 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 541.50 59.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 507.50 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 507.50 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 507.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 507.50 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 507.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 507.50 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 507.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 507.50 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 507.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 507.50 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 507.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 507.50 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 507.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 507.50 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 440.50 73.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 440.50 53.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 440.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 440.50 56.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 440.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 440.50 53.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 440.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 440.50 40.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 440.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 440.50 48.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 440.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 440.50 50.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 440.50 4.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 440.50 59.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 366.50 73.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 366.50 53.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 366.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 366.50 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 366.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 366.50 53.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 366.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 366.50 40.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 366.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 366.50 48.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 366.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 366.50 50.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 366.50 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 366.50 59.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 77.50 318.50 73.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 150.50 318.50 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 318.50 56.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 263.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.50 318.50 53.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.50 318.50 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.50 318.50 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.50 318.50 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.50 318.50 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.50 318.50 59.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 616.5 m 203.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 616.5 m 263.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 616.5 m 320.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 616.5 m 364.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 616.5 m 416.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 616.5 m 470.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 616.5 m 533.5 616.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 592.5 m 203.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 590.5 m 203.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 592.5 m 263.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 590.5 m 263.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 592.5 m 320.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 590.5 m 320.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 592.5 m 364.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 590.5 m 364.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 592.5 m 416.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 590.5 m 416.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 592.5 m 470.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 590.5 m 470.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 592.5 m 533.5 592.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 590.5 m 533.5 590.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 343.5 m 203.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 343.5 m 263.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 343.5 m 320.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 343.5 m 364.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 343.5 m 416.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 343.5 m 470.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 343.5 m 533.5 343.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 319.5 m 203.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 150.5 317.5 m 203.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 319.5 m 263.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 207.5 317.5 m 263.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 319.5 m 320.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267.5 317.5 m 320.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 319.5 m 364.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324.5 317.5 m 364.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 319.5 m 416.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368.5 317.5 m 416.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 319.5 m 470.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420.5 317.5 m 470.5 317.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 319.5 m 533.5 319.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474.5 317.5 m 533.5 317.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 703.07 Td (Depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 693.07 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 683.12 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 685.17 Td (144,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 685.17 Td (19,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 685.17 Td (140,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 685.17 Td (327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 685.17 Td (3,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.80 685.22 Td (\(3,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 685.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 685.17 Td (305,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 671.07 Td (Loss \(gain\) on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 661.07 Td (disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 651.07 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 641.12 Td (assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.30 643.17 Td (\(609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.65 643.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 643.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 643.17 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 643.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 643.17 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 643.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.30 643.22 Td (\(507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 643.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 629.07 Td (Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 619.12 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 621.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 621.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 621.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 621.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 621.17 Td (97,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 621.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 621.17 Td (97,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 607.07 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 597.07 Td (income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 596.17 Td (46,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 596.17 Td (203,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 596.17 Td (152,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.80 596.22 Td (\(7,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 596.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.80 596.22 Td (\(101,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 596.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 596.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 596.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 596.17 Td (293,414) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 80.00 589.00 54.70 -9.09 re f /GS0 gs q 0 0 0 rg BT 80.00 582.07 Td (Intersegment ) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 89.00 579.00 31.65 -9.09 re f /GS0 gs q 0 0 0 rg BT 89.00 572.07 Td (revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 571.17 Td (122,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 571.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 571.17 Td (9,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 571.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 571.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 571.22 Td (\(131,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 571.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 571.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 571.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 557.07 Td (Capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 547.07 Td (expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 546.17 Td (83,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.15 546.17 Td (4,753) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 546.17 Td (69,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 546.17 Td (66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 546.17 Td (26,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 546.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 546.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 546.17 Td (184,293) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.00 529.73 Td (Nine Months Ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 513.07 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 512.17 Td (5,080,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 512.17 Td (288,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.60 512.17 Td (1,305,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 512.17 Td (4,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 512.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 512.22 Td (\(122,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 512.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 512.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 512.17 Td (6,557,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 498.07 Td (Direct operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 488.07 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.60 487.17 Td (4,219,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 487.17 Td (44,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 487.17 Td (673,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 487.17 Td (149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 487.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 487.22 Td (\(120,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 487.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 487.17 Td (4,817,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 473.07 Td (Selling, general ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 463.07 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 453.07 Td (administrative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 443.12 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 445.17 Td (701,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 445.17 Td (50,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 445.17 Td (363,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.10 445.17 Td (11,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 445.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 445.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.60 445.17 Td (1,126,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 431.07 Td (Depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 421.07 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 411.12 Td (amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 413.17 Td (146,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.15 413.17 Td (13,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 413.17 Td (132,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.10 413.17 Td (2,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 413.17 Td (2,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.80 413.22 Td (\(1,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 413.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 413.17 Td (295,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 399.07 Td (Loss \(gain\) on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 389.07 Td (disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 379.07 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 369.12 Td (assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.30 371.17 Td (\(162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.65 371.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 371.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 371.17 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 371.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 371.17 Td (117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 371.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.30 371.22 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.65 371.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 357.07 Td (Corporate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 347.07 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.65 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.65 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.10 348.17 Td (85,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 348.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 348.17 Td (85,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 334.07 Td (Operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 324.07 Td (income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 323.17 Td (14,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 323.17 Td (179,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.10 323.17 Td (135,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.80 323.22 Td (\(9,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.65 323.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.80 323.22 Td (\(88,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 323.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 323.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 323.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 323.17 Td (232,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 309.07 Td (Intersegment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 299.07 Td (revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.10 298.17 Td (115,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.15 298.17 Td (6,710) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.80 298.22 Td (\(122,472) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 298.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 298.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.65 298.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.00 284.07 Td (Capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.00 274.07 Td (expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.15 274.17 Td (51,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.15 274.17 Td (1,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.15 274.17 Td (64,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 274.17 Td (777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.15 274.17 Td (5,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 274.17 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.00 274.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.15 274.17 Td (123,415) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 37 0 obj <>] /Rotate 0 /Contents 38 0 R>> endobj 38 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item 2. Management) Tj ET Q q 0 0 0 rg BT 141.55 742.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 213.53 742.25 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (Live Nation \(which may be r) Tj ET Q q 0 0 0 rg BT 198.90 724.25 Td (eferr) Tj ET Q q 0 0 0 rg BT 217.97 724.25 Td (ed to as the Company) Tj ET Q q 0 0 0 rg BT 309.63 724.25 Td (, we, us or our\) means Live Nation Entertainment, ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (Inc. and its subsidiaries, or one of our segments or subsidiaries, as the context r) Tj ET Q q 0 0 0 rg BT 370.45 712.25 Td (equir) Tj ET Q q 0 0 0 rg BT 391.19 712.25 Td (es. Y) Tj ET Q q 0 0 0 rg BT 409.16 712.25 Td (ou should r) Tj ET Q q 0 0 0 rg BT 454.35 712.25 Td (ead the following ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (discussion of our financial condition and r) Tj ET Q q 0 0 0 rg BT 220.19 700.25 Td (esults of operations together with the unaudited consolidated financial statements ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (and notes to the financial statements included elsewher) Tj ET Q q 0 0 0 rg BT 270.98 688.25 Td (e in this quarterly r) Tj ET Q q 0 0 0 rg BT 348.38 688.25 Td (eport.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.70 670.25 Td (Special Note ) Tj ET Q q 0 0 0 rg BT 255.70 670.25 Td (About Forward-Looking Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 652.25 Td (Certain statements contained in this quarterly report \(or otherwise made by us or on our behalf from time to time in other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (reports, filings with the SEC, news releases, conferences, internet postings or otherwise\) that are not statements of historical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (fact constitute forward-looking statements within the meaning of Section27A) Tj ET Q q 0 0 0 rg BT 370.20 628.25 Td ( of the Securities ) Tj ET Q q 0 0 0 rg BT 439.62 628.25 Td (Act of 1933, as amended, and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (Section21E of the Exchange ) Tj ET Q q 0 0 0 rg BT 168.02 616.25 Td (Act of 1934, as amended, notwithstanding that such statements are not specifically identified. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (Forward-looking statements include, but are not limited to, statements about our financial position, business strategy) Tj ET Q q 0 0 0 rg BT 515.65 604.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (competitive position, potential growth opportunities, potential operating performance improvements, the ef) Tj ET Q q 0 0 0 rg BT 478.32 592.25 Td (fects of competition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (the ef) Tj ET Q q 0 0 0 rg BT 72.30 580.25 Td (fects of future legislation or regulations and plans and objectives of our management for future operations. ) Tj ET Q q 0 0 0 rg BT 500.60 580.25 Td (W) Tj ET Q q 0 0 0 rg BT 509.24 580.25 Td (e have based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (our forward-looking statements on our beliefs and assumptions considering the information available to us at the time the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (statements are made. Use of the words may) Tj ET Q q 0 0 0 rg BT 227.62 556.25 Td (, should, continue, plan, potential, anticipate, believe, estimate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (expect, intend, outlook, could, tar) Tj ET Q q 0 0 0 rg BT 224.17 544.25 Td (get, project, seek, predict, or variations of such words and similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.25 Td (expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 514.25 Td (Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (cause actual results to dif) Tj ET Q q 0 0 0 rg BT 150.89 502.25 Td (fer materially from those in such statements. Factors that could cause actual results to dif) Tj ET Q q 0 0 0 rg BT 506.44 502.25 Td (fer from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (those discussed in the forward-looking statements include, but are not limited to, those set forth below under Part II Item1A.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (Risk Factors, in Part I Item IA.Risk Factors of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.31 478.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.31 478.25 Td ( ) Tj ET Q q 0 0 0 rg BT 285.26 478.25 Td (Annual Report on Form 10-K, as well as other factors described ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (herein or in our annual, quarterly and other reports we file with the SEC \(collectively) Tj ET Q q 0 0 0 rg BT 390.07 466.25 Td (, cautionary statements\). Based upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.25 Td (changing conditions, should any one or more of these risks or uncertainties materialize, or should any underlying assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (prove incorrect, actual results may vary materially from those described in any forward-looking statements. ) Tj ET Q q 0 0 0 rg BT 482.08 442.25 Td (All subsequent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.25 Td (entirety by the applicable cautionary statements. ) Tj ET Q q 0 0 0 rg BT 245.58 418.25 Td (W) Tj ET Q q 0 0 0 rg BT 254.22 418.25 Td (e do not intend to update these forward-looking statements, except as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.25 Td (required by applicable law) Tj ET Q q 0 0 0 rg BT 155.69 406.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (Executive Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 370.25 Td (In the third quarter of 2017, our total revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.33 370.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.08 370.25 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.08 370.25 Td ($389 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.47 370.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.30 370.25 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.63 370.25 Td (, on a reported basis as compared to last ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 358.25 Td (year) Tj ET Q q 0 0 0 rg BT 66.81 358.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.64 358.25 Td ($353 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.03 358.25 Td (, an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.97 358.25 Td (1) Tj ET Q q 0 0 0 rg BT 155.60 358.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.93 358.25 Td ( increase, without the impact of changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 437.81 358.25 Td (The revenue increase was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 346.25 Td (lar) Tj ET Q q 0 0 0 rg BT 60.37 346.25 Td (gely driven by growth in both our Concerts and ) Tj ET Q q 0 0 0 rg BT 252.65 346.25 Td (T) Tj ET Q q 0 0 0 rg BT 258.41 346.25 Td (icketing segments. ) Tj ET Q q 0 0 0 rg BT 335.16 346.25 Td (The Concerts growth was due to an increase in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (number of events and fans attending these events which also drove our highest quarterly concert attendance ever) Tj ET Q q 0 0 0 rg BT 499.28 334.25 Td (. In ) Tj ET Q q 0 0 0 rg BT 514.93 334.25 Td (T) Tj ET Q q 0 0 0 rg BT 520.69 334.25 Td (icketing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (strong primary and secondary ticket sales drove the increase in revenue. Our operating income for the quarter improved by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.71 322.25 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.04 322.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (compared to the third quarter of 2016, once again driven by the strong performance of all of our segments. For the first nine ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 298.25 Td (months of 2017, our total revenue grew ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.52 298.25 Td ($1.23 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.63 298.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.46 298.25 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.79 298.25 Td (, on a reported basis as compared to last year) Tj ET Q q 0 0 0 rg BT 474.77 298.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.60 298.25 Td ($1.25 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.71 298.25 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 286.25 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 286.25 Td ( increase, without the impact of changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 336.84 286.25 Td (All three of our segments delivered strong revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 274.25 Td (increases in the first nine months of the year) Tj ET Q q 0 0 0 rg BT 226.77 274.25 Td (, underscoring the continued success of our strategic initiatives and the underlying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 262.25 Td (health of the live event, advertising and ticketing businesses. ) Tj ET Q q 0 0 0 rg BT 294.66 262.25 Td (As the leading global live event and ticketing company) Tj ET Q q 0 0 0 rg BT 514.51 262.25 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 250.25 Td (believe that we are well-positioned to provide the best service to artists, teams, fans and venues and therefore drive growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (across all our businesses. By leveraging our leadership position in the entertainment industry to reach fans through the live ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (concert experience, we believe that we will sell more tickets and grow our Sponsorship & ) Tj ET Q q 0 0 0 rg BT 411.01 226.25 Td (Advertising segment revenue. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 208.25 Td (Our Concerts segment revenue for the quarter increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.02 208.25 Td ($295 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.41 208.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.24 208.25 Td (1) Tj ET Q q 0 0 0 rg BT 382.87 208.25 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.20 208.25 Td (, on a reported basis as compared to last ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.25 Td (year) Tj ET Q q 0 0 0 rg BT 66.81 196.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 82.64 196.25 Td ($265 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.03 196.25 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.97 196.25 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.30 196.25 Td ( increase, without the impact of changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 433.18 196.25 Td (This increase was lar) Tj ET Q q 0 0 0 rg BT 517.13 196.25 Td (gely due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 184.25 Td (significant growth in arena and stadium activity in both North ) Tj ET Q q 0 0 0 rg BT 299.39 184.25 Td (America and Europe with shows by artists including U2, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 172.25 Td (Coldplay) Tj ET Q q 0 0 0 rg BT 86.02 172.25 Td (, Guns N) Tj ET Q q 0 0 0 rg BT 124.44 172.25 Td ( Roses, and Metallica. Our onsite initiatives resulted in near double-digit growth in our amphitheater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 160.25 Td (ancillary revenue per fan, which was driven by various programs including our enhanced beverage program, increasing our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 148.25 Td (points of sale, and introducing specialty food concepts. ) Tj ET Q q 0 0 0 rg BT 272.54 148.25 Td (W) Tj ET Q q 0 0 0 rg BT 281.18 148.25 Td (e have also seen success in our ef) Tj ET Q q 0 0 0 rg BT 414.56 148.25 Td (fort to improve the sell-through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.25 Td (price on our best available seats in our amphitheaters this season. Our premium and platinum initiatives are growing the event ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.25 Td (revenue and we are implementing our pricing strategies with greater precision and greater sensitivity to unique market and tour ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 96.11 112.25 Td (Attendance at our international shows was up in the quarter) Tj ET Q q 0 0 0 rg BT 333.70 112.25 Td (, driven by significant increases in our arena and stadium ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (events. Our Concerts segment operating results for the quarter exceeded last year and this was again lar) Tj ET Q q 0 0 0 rg BT 463.28 100.25 Td (gely driven by the high ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (volume of arena and stadium activity as well as our onsite revenue growth initiatives. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 70.25 Td (For the first nine months, our Concerts segment was the lar) Tj ET Q q 0 0 0 rg BT 309.22 70.25 Td (gest contributor to our overall revenue growth, with an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.25 Td (increase of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.08 58.25 Td ($972 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.48 58.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.31 58.25 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.64 58.25 Td (, on a reported basis as compared to last year) Tj ET Q q 0 0 0 rg BT 360.62 58.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.45 58.25 Td ($985 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.84 58.25 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.78 58.25 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.11 58.25 Td ( increase, without the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 46.25 Td (impact of changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 230.48 46.25 Td (As in the second quarter) Tj ET Q q 0 0 0 rg BT 327.28 46.25 Td (, this higher revenue was lar) Tj ET Q q 0 0 0 rg BT 439.83 46.25 Td (gely due to an increase in the ) Tj ET Q endstream endobj 39 0 obj <>] /Rotate 0 /Contents 40 0 R>> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (number of arena and stadium shows in North ) Tj ET Q q 0 0 0 rg BT 232.19 742.10 Td (America and Europe. For the first nine months of the year) Tj ET Q q 0 0 0 rg BT 463.66 742.10 Td (, there has been a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.29 742.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.62 742.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (increase in the overall number of fans attending our shows as compared to the first nine months of 2016. Operating income for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 718.10 Td (the first nine months of the year was up due to the higher number of shows in arenas and stadiums as well as our ticket pricing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 706.10 Td (and onsite initiatives. ) Tj ET Q q 0 0 0 rg BT 137.58 706.10 Td (W) Tj ET Q q 0 0 0 rg BT 146.22 706.10 Td (e will continue to look for expansion opportunities, both domestically and internationally) Tj ET Q q 0 0 0 rg BT 502.17 706.10 Td (, as well as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.10 Td (ways to market our events more ef) Tj ET Q q 0 0 0 rg BT 188.11 694.10 Td (fectively) Tj ET Q q 0 0 0 rg BT 222.44 694.10 Td (, in order to continue to expand our fan base and geographic reach and to sell more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.10 Td (tickets and advertising. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 664.10 Td (Our Sponsorship & ) Tj ET Q q 0 0 0 rg BT 152.23 664.10 Td (Advertising segment revenue for the quarter was up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.16 664.10 Td ($22 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.55 664.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.38 664.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.71 664.10 Td (, on a reported basis as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.10 Td (compared to last year) Tj ET Q q 0 0 0 rg BT 135.40 652.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.23 652.10 Td ($20 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.62 652.10 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.56 652.10 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.89 652.10 Td ( increase, without the impact of changes in foreign exchange rates. Higher revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.10 Td (resulted from new clients and growth in our online business, which also improved our operating income.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 622.10 Td (For the first nine months, Sponsorship & ) Tj ET Q q 0 0 0 rg BT 238.06 622.10 Td (Advertising revenue was up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.48 622.10 Td ($58 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.87 622.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.70 622.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.03 622.10 Td (, on a reported basis as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (compared to last year) Tj ET Q q 0 0 0 rg BT 135.40 610.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.23 610.10 Td ($59 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.62 610.10 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.56 610.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.89 610.10 Td ( increase, without the impact of changes in foreign exchange rates. Our focus on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (building new venue products and expanding our digital reach has generated new opportunities for growth. Our festival apps and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (podcasts are attracting new fans and giving sponsors additional platforms for reaching consumers. Lastly) Tj ET Q q 0 0 0 rg BT 469.24 586.10 Td (, we are seeing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (increases from our Germany market expansion. ) Tj ET Q q 0 0 0 rg BT 242.25 574.10 Td (W) Tj ET Q q 0 0 0 rg BT 250.89 574.10 Td (e believe that our extensive onsite and online reach, global venue distribution ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.10 Td (network, artist relationships and ticketing operations are the key to securing long-term sponsorship agreements with major ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.10 Td (brands, and we plan to expand these assets while extending further into new markets internationally) Tj ET Q q 0 0 0 rg BT 448.40 550.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 532.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.37 532.10 Td (T) Tj ET Q q 0 0 0 rg BT 96.13 532.10 Td (icketing segment revenue for the third quarter increased by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.64 532.10 Td ($76 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.04 532.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.87 532.10 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.20 532.10 Td (, on a reported basis as compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (last year) Tj ET Q q 0 0 0 rg BT 83.19 520.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.02 520.10 Td ($72 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.42 520.10 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.35 520.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.68 520.10 Td ( increase, without the impact of changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 444.57 520.10 Td (This increase was due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.10 Td (growth in fee-bearing ticket sales. ) Tj ET Q q 0 0 0 rg BT 188.10 508.10 Td (W) Tj ET Q q 0 0 0 rg BT 196.74 508.10 Td (e delivered strong growth in ticket sales globally for our ) Tj ET Q q 0 0 0 rg BT 423.72 508.10 Td (T) Tj ET Q q 0 0 0 rg BT 429.48 508.10 Td (icketing segment in the quarter) Tj ET Q q 0 0 0 rg BT 552.92 508.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 496.10 Td (driven by high demand for concert tickets and continued positive fan reaction to our integrated ticketing platform. Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 484.10 Td (improvements to our fan-focused website continued to favorably impact our conversion rates in the third quarter as well.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 466.10 Td (For the first nine months, ) Tj ET Q q 0 0 0 rg BT 176.20 466.10 Td (T) Tj ET Q q 0 0 0 rg BT 181.96 466.10 Td (icketing revenue was up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.37 466.10 Td ($205 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.76 466.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.59 466.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.92 466.10 Td (, on a reported basis as compared to last year) Tj ET Q q 0 0 0 rg BT 545.90 466.10 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td ($212 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.39 454.10 Td (, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.33 454.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.66 454.10 Td ( increase, without the impact of changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 400.54 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 409.18 454.10 Td (e have sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.67 454.10 Td (147 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.06 454.10 Td ( fee-bearing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (tickets worldwide for the first nine months, a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.46 442.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.79 442.10 Td ( increase over last year) Tj ET Q q 0 0 0 rg BT 342.01 442.10 Td (, and our total fee-bearing gross transaction value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.10 Td (grew by 14% in the same period. In the first nine months of the year) Tj ET Q q 0 0 0 rg BT 322.58 430.10 Td (, we continued to see growth in our mobile ticket sales with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 418.10 Td (an increase of 34% and mobile now represents over 30% of our total ticket sales. Our international markets had a very strong ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 406.10 Td (first nine months of the year with double-digit ticket sales growth across Europe. ) Tj ET Q q 0 0 0 rg BT 375.85 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 384.49 406.10 Td (e will continue to implement new features ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 394.10 Td (to drive further expansion of mobile ticket transactions and invest in initiatives aimed at improving the ticket search, purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.10 Td (and transfer process which we expect will attract more ticket buyers and enhance the overall fan and venue client experience. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 364.10 Td (W) Tj ET Q q 0 0 0 rg BT 81.14 364.10 Td (e continue to be optimistic about the long-term potential of our company and are focused on the key elements of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (business model: expand our concert platform, drive conversion of ticket sales through social and mobile channels, sell more ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (tickets for our ) Tj ET Q q 0 0 0 rg BT 108.41 340.10 Td (T) Tj ET Q q 0 0 0 rg BT 114.17 340.10 Td (icketmaster clients, deliver to our fans a fully integrated of) Tj ET Q q 0 0 0 rg BT 348.35 340.10 Td (fering of primary and secondary tickets, grow our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (sponsorship and online revenue, and drive cost ef) Tj ET Q q 0 0 0 rg BT 247.54 328.10 Td (ficiencies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 310.10 Td (Our) Tj ET Q q 0 0 0 rg BT 67.60 310.10 Td ( History) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 292.10 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 292.10 Td (e were incorporated in Delaware on ) Tj ET Q q 0 0 0 rg BT 227.57 292.10 Td (August2, 2005 in preparation for the contribution and transfer by Clear Channel ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (Communications, Inc. of substantially all of its entertainment assets and liabilities to us.) Tj ET Q q 0 0 0 rg BT 404.20 280.10 Td (W) Tj ET Q q 0 0 0 rg BT 412.84 280.10 Td (e completed the separation on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (December21, 2005, and became a publicly traded company on the New ) Tj ET Q q 0 0 0 rg BT 340.63 268.10 Td (Y) Tj ET Q q 0 0 0 rg BT 346.86 268.10 Td (ork Stock Exchange trading under the symbol ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (L) Tj ET Q q 0 0 0 rg BT 59.55 256.10 Td (YV) Tj ET Q q 0 0 0 rg BT 72.70 256.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 238.10 Td (On January25, 2010, we mer) Tj ET Q q 0 0 0 rg BT 191.85 238.10 Td (ged with ) Tj ET Q q 0 0 0 rg BT 228.88 238.10 Td (T) Tj ET Q q 0 0 0 rg BT 234.64 238.10 Td (icketmaster Entertainment LLC and it became a wholly-owned subsidiary of Live ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.10 Td (Nation. Ef) Tj ET Q q 0 0 0 rg BT 91.47 226.10 Td (fective with the mer) Tj ET Q q 0 0 0 rg BT 171.54 226.10 Td (ger) Tj ET Q q 0 0 0 rg BT 183.91 226.10 Td (, Live Nation, Inc. changed its name to Live Nation Entertainment, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (Segment Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 190.10 Td (Our reportable segments are Concerts, Sponsorship& ) Tj ET Q q 0 0 0 rg BT 291.73 190.10 Td (Advertising and ) Tj ET Q q 0 0 0 rg BT 358.21 190.10 Td (T) Tj ET Q q 0 0 0 rg BT 363.97 190.10 Td (icketing. Prior to 2017, we reported an ) Tj ET Q q 0 0 0 rg BT 520.32 190.10 Td (Artist ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (Nation segment, which is now included in our Concerts segment. See further discussion of the segment change in Item 1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (Financial StatementsNote ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.53 166.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.53 166.10 Td (Segment Data.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 148.10 Td (Concerts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 130.10 Td (Our Concerts segment principally involves the global promotion of live music events in our owned or operated venues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 118.10 Td (and in rented third-party venues, the operation and management of music venues, the production of music festivals across the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 106.10 Td (world, the creation of associated content and the provision of management and other services to artists. ) Tj ET Q q 0 0 0 rg BT 464.14 106.10 Td (While our Concerts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 94.10 Td (segment operates year) Tj ET Q q 0 0 0 rg BT 138.65 94.10 Td (-round, we experience higher revenue during the second and third quarters due to the seasonal nature of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 82.10 Td (shows at our outdoor amphitheaters and festivals, which primarily occur from May through October) Tj ET Q q 0 0 0 rg BT 449.90 82.10 Td (. Revenue and related costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 70.10 Td (for events are generally deferred and recognized when the event occurs. ) Tj ET Q q 0 0 0 rg BT 339.30 70.10 Td (All advertising costs incurred during the year for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 58.10 Td (shows in future years are expensed at the end of the year) Tj ET Q q 0 0 0 rg BT 275.75 58.10 Td (.) Tj ET Q endstream endobj 41 0 obj <>] /Rotate 0 /Contents 42 0 R>> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 742.10 Td (Concerts direct operating expenses include artist fees, event production costs, show-related marketing and advertising ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (expenses, along with other costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 712.10 Td (T) Tj ET Q q 0 0 0 rg BT 79.41 712.10 Td (o judge the health of our Concerts segment, we primarily monitor the number of confirmed events and fan attendance in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (our network of owned or operated and third-party venues, talent fees, average paid attendance, advance ticket sales and number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (of major clients represented. In addition, at our owned or operated venues and festivals, we monitor ancillary revenue per fan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (and premium ticket sales. For business that is conducted in foreign markets, we also compare the operating results from our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.10 Td (foreign operations to prior periods without the impact of changes in foreign exchange rates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 646.10 Td (Sponsorship& ) Tj ET Q q 0 0 0 rg BT 127.04 646.10 Td (Advertising) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 628.10 Td (Our Sponsorship& ) Tj ET Q q 0 0 0 rg BT 153.73 628.10 Td (Advertising segment employs a sales force that creates and maintains relationships with sponsors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.10 Td (through a combination of strategic, international, national and local opportunities that allow businesses to reach customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.10 Td (through our concerts, venue, artist relationship and ticketing assets, including advertising on our websites. ) Tj ET Q q 0 0 0 rg BT 476.39 604.10 Td (W) Tj ET Q q 0 0 0 rg BT 485.03 604.10 Td (e drive increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.10 Td (advertising scale to further monetize our concerts platform through rich media of) Tj ET Q q 0 0 0 rg BT 373.87 592.10 Td (ferings including advertising associated with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.10 Td (live streaming and music-related original content. ) Tj ET Q q 0 0 0 rg BT 251.14 580.10 Td (W) Tj ET Q q 0 0 0 rg BT 259.78 580.10 Td (e work with our corporate clients to help create marketing programs that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.10 Td (drive their business goals and connect their brands directly with fans and artists. ) Tj ET Q q 0 0 0 rg BT 372.51 568.10 Td (W) Tj ET Q q 0 0 0 rg BT 381.15 568.10 Td (e also develop, book and produce custom ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.10 Td (events or programs for our clients) Tj ET Q q 0 0 0 rg BT 187.83 556.10 Td ( specific brands which are typically experienced exclusively by the clients) Tj ET Q q 0 0 0 rg BT 486.97 556.10 Td ( consumers. ) Tj ET Q q 0 0 0 rg BT 537.06 556.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (custom events can involve live music events with talent and media, using both online and traditional outlets. ) Tj ET Q q 0 0 0 rg BT 485.56 544.10 Td (W) Tj ET Q q 0 0 0 rg BT 494.20 544.10 Td (e typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (experience higher revenue in the second and third quarters, as a lar) Tj ET Q q 0 0 0 rg BT 316.92 532.10 Td (ge portion of sponsorships are associated with shows at our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 520.10 Td (outdoor amphitheaters and festivals, which primarily occur from May through October) Tj ET Q q 0 0 0 rg BT 396.85 520.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 502.10 Td (Direct operating expenses include fulfillment costs related to our sponsorship programs, along with other costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 484.10 Td (T) Tj ET Q q 0 0 0 rg BT 79.41 484.10 Td (o judge the health of our Sponsorship& ) Tj ET Q q 0 0 0 rg BT 241.62 484.10 Td (Advertising segment, we primarily review the revenue generated through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 472.10 Td (sponsorship arrangements, the percentage of expected revenue under contract and online advertising revenue. For business that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 460.10 Td (is conducted in foreign markets, we also compare the operating results from our foreign operations to prior periods without the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 448.10 Td (impact of changes in foreign exchange rates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 430.10 Td (T) Tj ET Q q 0 0 0 rg BT 67.74 430.10 Td (icketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 412.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 90.37 412.10 Td (T) Tj ET Q q 0 0 0 rg BT 96.13 412.10 Td (icketing segment is primarily an agency business that sells tickets for events on behalf of its clients and retains a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.10 Td (service char) Tj ET Q q 0 0 0 rg BT 97.84 400.10 Td (ge for these services. Gross transaction value, or GTV) Tj ET Q q 0 0 0 rg BT 313.15 400.10 Td (, represents the total amount of the transaction related to a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.10 Td (ticket sale and includes the face value of the ticket as well as the service char) Tj ET Q q 0 0 0 rg BT 357.73 388.10 Td (ge. Service char) Tj ET Q q 0 0 0 rg BT 421.68 388.10 Td (ges are generally based on a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (percentage of the face value or a fixed fee. ) Tj ET Q q 0 0 0 rg BT 222.49 376.10 Td (W) Tj ET Q q 0 0 0 rg BT 231.13 376.10 Td (e sell tickets through websites, mobile apps, ticket outlets and telephone call ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (centers. Our ticketing sales are impacted by fluctuations in the availability of events for sale to the public, which may vary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (depending upon scheduling by our clients. ) Tj ET Q q 0 0 0 rg BT 221.73 352.10 Td (W) Tj ET Q q 0 0 0 rg BT 230.37 352.10 Td (e also of) Tj ET Q q 0 0 0 rg BT 264.07 352.10 Td (fer ticket resale services, sometimes referred to as secondary ticketing, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (primarily through our integrated inventory platform, league/team platforms and other platforms internationally) Tj ET Q q 0 0 0 rg BT 492.00 340.10 Td (. Our ) Tj ET Q q 0 0 0 rg BT 514.87 340.10 Td (T) Tj ET Q q 0 0 0 rg BT 520.63 340.10 Td (icketing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (segment manages our online activities including enhancements to our ticketing websites and product of) Tj ET Q q 0 0 0 rg BT 463.32 328.10 Td (ferings. ) Tj ET Q q 0 0 0 rg BT 495.91 328.10 Td (Through our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (websites, we sell tickets to our own events as well as tickets for our clients and provide event information. Revenue related to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (ticketing service char) Tj ET Q q 0 0 0 rg BT 135.33 304.10 Td (ges is recognized when the ticket is sold for our outside clients. For our own events, where our concert ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td (promoters control ticketing, revenue is deferred and recognized as the event occurs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 274.10 Td (T) Tj ET Q q 0 0 0 rg BT 79.76 274.10 Td (icketing direct operating expenses include ticketing client royalties and credit card fees, along with other costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 256.10 Td (T) Tj ET Q q 0 0 0 rg BT 79.41 256.10 Td (o judge the health of our ) Tj ET Q q 0 0 0 rg BT 179.76 256.10 Td (T) Tj ET Q q 0 0 0 rg BT 185.51 256.10 Td (icketing segment, we primarily review GTV) Tj ET Q q 0 0 0 rg BT 362.50 256.10 Td ( and the number of tickets sold through our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (primary and secondary ticketing operations, the number of clients renewed or added and the average royalty rate paid to clients ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 232.10 Td (who use our ticketing services. In addition, we review the number of visits to our websites, the purchase conversion rate, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 220.10 Td (overall number of customers in our database, the number of tickets sold via mobile and the number of app installs. For business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 208.10 Td (that is conducted in foreign markets, we also compare the operating results from our foreign operations to prior periods without ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 196.10 Td (the impact of changes in foreign exchange rates.) 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0.9333333333333333 1 rg /GS0 gs 357.00 613.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 613.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 613.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 613.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 613.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 583.95 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 583.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 583.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 583.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 583.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 583.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 583.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 583.95 65.00 -15.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 425.00 524.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 524.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 524.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 52.00 494.95 236.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 494.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 494.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 494.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 494.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 494.95 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 494.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 494.95 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 699.95 m 353 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 699.95 m 357 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 699.95 m 421 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 699.95 m 494 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 699.95 m 559 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 699.95 m 353 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 686.95 m 353 686.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 699.95 m 421 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 686.95 m 421 686.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 699.95 m 490 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 686.95 m 490 686.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 699.95 m 494 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 699.95 m 559 699.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 686.95 m 559 686.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 613.95 m 353 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 613.95 m 421 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 613.95 m 490 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 613.95 m 559 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 613.95 m 353 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 598.95 m 353 598.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 613.95 m 421 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 598.95 m 421 598.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 613.95 m 490 613.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 598.95 m 490 598.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 598.95 m 559 598.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 553.95 m 353 553.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 553.95 m 421 553.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 553.95 m 490 553.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 553.95 m 559 553.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 538.95 m 353 538.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 538.95 m 421 538.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 538.95 m 490 538.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 538.95 m 559 538.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 494.95 m 353 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 494.95 m 421 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 494.95 m 490 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 494.95 m 559 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 479.95 m 353 479.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 494.95 m 421 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 479.95 m 421 479.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 494.95 m 490 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 479.95 m 490 479.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 494.95 m 559 494.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 479.95 m 559 479.95 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.60 712.18 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 324.60 704.18 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 457.25 712.18 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.10 704.18 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 312.00 691.18 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.50 691.18 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.00 691.18 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 518.00 691.18 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 361.45 677.20 Td (\(in thousands except estimated events\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.50 663.63 Td (Concerts ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 95.32 668.16 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 648.62 Td (Estimated events:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 633.62 Td (North America) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 633.62 Td (5,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 633.62 Td (4,950) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 633.62 Td (14,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 633.62 Td (12,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 618.62 Td (International) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 618.62 Td (1,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 618.62 Td (1,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 618.62 Td (6,225) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.65 618.62 Td (5,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 603.62 Td (Total estimated events) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 603.62 Td (6,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 603.62 Td (6,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 603.62 Td (20,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 603.62 Td (18,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 588.62 Td (Estimated fans:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 573.62 Td (North America) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 573.62 Td (21,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 573.62 Td (22,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 573.62 Td (42,659) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 573.62 Td (39,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 558.62 Td (International) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 558.62 Td (7,980) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.65 558.62 Td (5,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 558.62 Td (22,379) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 558.62 Td (16,724) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 543.62 Td (Total estimated fans) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 543.62 Td (29,541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 543.62 Td (27,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 543.62 Td (65,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 543.62 Td (55,875) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.50 529.63 Td (T) Tj ET Q q 0 0 0 rg BT 60.99 529.63 Td (icketing ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 97.38 534.16 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 514.62 Td (Number of fee-bearing tickets sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 514.62 Td (50,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 514.62 Td (45,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 514.62 Td (147,304) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 514.62 Td (133,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 499.62 Td (Number of non-fee-bearing tickets sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.65 499.62 Td (65,304) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.65 499.62 Td (68,102) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 499.62 Td (201,088) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 499.62 Td (205,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.50 484.62 Td (Total tickets sold) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.65 484.62 Td (115,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.65 484.62 Td (114,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 484.62 Td (348,392) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.65 484.62 Td (339,118) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 468.45 Td (_________) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 50.00 450.98 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 446.45 Td (Events generally represent a single performance by an artist. Fans generally represent the number of people who attend an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 434.45 Td (event. Festivals are counted as one event in the quarter in which the festival begins, but the number of fans is based on the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 422.45 Td (days the fans were present at the festival and thus can be reported across multiple quarters. Events and fan attendance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 410.45 Td (metrics are estimated each quarter) Tj ET Q q 0 0 0 rg BT 208.54 410.45 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 50.00 402.98 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 398.45 Td (The number of fee-bearing tickets sold includes primary and secondary tickets that are sold using our ) Tj ET Q q 0 0 0 rg BT 479.97 398.45 Td (T) Tj ET Q q 0 0 0 rg BT 485.73 398.45 Td (icketmaster ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 386.45 Td (systems or that we issue through af) Tj ET Q q 0 0 0 rg BT 212.85 386.45 Td (filiates. ) Tj ET Q q 0 0 0 rg BT 244.88 386.45 Td (This metric includes primary tickets sold during the period regardless of event ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 374.45 Td (timing, except for our own events where our concert promoters control ticketing and which are reported as the events ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 362.45 Td (occur) Tj ET Q q 0 0 0 rg BT 94.16 362.45 Td (. ) Tj ET Q q 0 0 0 rg BT 98.97 362.45 Td (The non-fee-bearing tickets sold reported above includes primary tickets sold using our ) Tj ET Q q 0 0 0 rg BT 450.91 362.45 Td (T) Tj ET Q q 0 0 0 rg BT 456.67 362.45 Td (icketmaster systems, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 350.45 Td (through season seat packages and our venue clients) Tj ET Q q 0 0 0 rg BT 280.30 350.45 Td ( box of) Tj ET Q q 0 0 0 rg BT 308.45 350.45 Td (fices, along with tickets sold on our do it yourself) Tj ET Q q 0 0 0 rg BT 510.63 350.45 Td () Tj ET Q q 0 0 0 rg BT 513.22 350.45 Td ( platform.) Tj ET Q endstream endobj 45 0 obj <>] /Rotate 0 /Contents 46 0 R>> endobj 46 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 98.89 742.25 Td ( Measur) Tj ET Q q 0 0 0 rg BT 133.98 742.25 Td (es) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 724.25 Td (Reconciliation of ) Tj ET Q q 0 0 0 rg BT 134.96 724.25 Td (Adjusted Operating Income \(Loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 706.25 Td (AOI is a non-GAAP) Tj ET Q q 0 0 0 rg BT 155.57 706.25 Td ( financial measure that we define as operating income \(loss\) before acquisition expenses \(including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (transaction costs, changes in the fair value of acquisition-related contingent consideration obligations, and acquisition-related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (severance and compensation\), depreciation and amortization \(including goodwill impairment\), loss \(gain\) on disposal of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 670.25 Td (operating assets and certain stock-based compensation expense) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.69 670.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.19 670.25 Td ( ) Tj ET Q q 0 0 0 rg BT 307.51 670.25 Td (W) Tj ET Q q 0 0 0 rg BT 316.15 670.25 Td (e use ) Tj ET Q q 0 0 0 rg BT 338.36 670.25 Td (AOI to evaluate the performance of our operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 658.25 Td (segments. ) Tj ET Q q 0 0 0 rg BT 92.04 658.25 Td (W) Tj ET Q q 0 0 0 rg BT 100.67 658.25 Td (e believe that information about ) Tj ET Q q 0 0 0 rg BT 230.36 658.25 Td (AOI assists investors by allowing them to evaluate changes in the operating results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (of our portfolio of businesses separate from non-operational factors that af) Tj ET Q q 0 0 0 rg BT 347.50 646.25 Td (fect net income, thus providing insights into both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (operations and the other factors that af) Tj ET Q q 0 0 0 rg BT 203.65 634.25 Td (fect reported results. ) Tj ET Q q 0 0 0 rg BT 287.50 634.25 Td (AOI is not calculated or presented in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 531.04 634.25 Td (. ) Tj ET Q q 0 0 0 rg BT 535.48 634.25 Td (A) Tj ET Q q 0 0 0 rg BT 542.15 634.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.25 Td (limitation of the use of ) Tj ET Q q 0 0 0 rg BT 143.04 622.25 Td (AOI as a performance measure is that it does not reflect the periodic costs of certain amortizing assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (used in generating revenue in our business. ) Tj ET Q q 0 0 0 rg BT 224.40 610.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 273.74 610.25 Td (, ) Tj ET Q q 0 0 0 rg BT 278.19 610.25 Td (AOI should be considered in addition to, and not as a substitute for) Tj ET Q q 0 0 0 rg BT 545.80 610.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (operating income \(loss\), net income \(loss\), and other measures of financial performance reported in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 544.27 598.25 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Furthermore, this measure may vary among other companies; thus, ) Tj ET Q q 0 0 0 rg BT 319.66 586.25 Td (AOI as presented herein may not be comparable to similarly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (titled measures of other companies. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 556.25 Td (The following table sets forth the reconciliation of ) Tj ET Q q 0 0 0 rg BT 277.28 556.25 Td (AOI to operating income \(loss\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 489.75 273.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 489.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 489.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 489.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 489.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 489.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 489.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 489.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 489.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 461.75 154.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 461.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 461.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 461.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 461.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 461.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 461.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 461.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 461.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 461.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 461.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 461.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 433.75 154.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 433.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 433.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 433.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 433.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 433.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 433.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 433.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 433.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 433.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 433.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 433.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 405.75 154.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 405.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 405.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 405.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 405.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 405.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 405.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 405.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 405.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 405.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 405.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 405.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 374.75 154.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 374.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 374.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 374.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 374.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 374.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 374.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 374.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 374.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 374.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 374.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 374.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 346.75 154.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 346.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 346.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 346.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 346.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 346.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 346.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 346.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 346.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 346.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 346.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 346.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 318.75 154.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 318.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 318.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 318.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 318.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 318.75 58.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 318.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 318.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 318.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 318.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 318.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 318.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 290.75 209.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 290.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 290.75 60.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 290.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 290.75 58.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 290.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 290.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 290.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 290.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 290.75 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 290.75 55.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 257.75 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 257.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 257.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 257.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 257.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 257.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 257.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 257.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 257.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 257.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 257.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 257.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 227.75 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 227.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 227.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 227.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 227.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 227.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 227.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 227.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 227.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 227.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 227.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 227.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 197.75 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 197.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 197.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 197.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 197.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 197.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 197.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 197.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 164.75 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 164.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 164.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 164.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 164.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 164.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 164.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 164.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 164.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 164.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 164.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 164.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 134.75 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 134.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 134.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 134.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 134.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 134.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 134.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 134.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 134.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 134.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 134.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 134.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 104.75 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 203.50 104.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.50 104.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 262.50 104.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 104.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.50 104.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 104.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 104.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.50 104.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.50 104.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.50 104.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.50 104.75 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 502.75 m 258.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 502.75 m 322.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 502.75 m 384.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 502.75 m 443.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 502.75 m 502.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 502.75 m 561.5 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 405.75 m 258.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 405.75 m 322.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 405.75 m 384.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 405.75 m 443.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 405.75 m 502.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 405.75 m 258.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 392.75 m 258.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 390.75 m 258.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 405.75 m 322.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 392.75 m 322.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 390.75 m 322.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 392.75 m 384.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 390.75 m 384.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 405.75 m 443.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 392.75 m 443.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 390.75 m 443.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 405.75 m 502.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 392.75 m 502.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 390.75 m 502.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 405.75 m 561.5 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 392.75 m 561.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 390.75 m 561.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 390.75 m 322.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 392.75 m 322.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 390.75 m 384.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 392.75 m 384.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 390.75 m 443.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 392.75 m 443.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 390.75 m 502.5 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 392.75 m 502.5 392.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 304.75 m 258.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 304.75 m 322.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 304.75 m 384.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 304.75 m 443.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 304.75 m 502.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 291.75 m 258.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 289.75 m 258.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 291.75 m 322.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 289.75 m 322.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 291.75 m 384.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 289.75 m 384.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 291.75 m 443.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 289.75 m 443.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 291.75 m 502.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 289.75 m 502.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 304.75 m 561.5 304.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 291.75 m 561.5 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 289.75 m 561.5 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 197.75 m 258.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 197.75 m 322.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 197.75 m 384.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 197.75 m 443.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 197.75 m 502.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 183.75 m 258.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 181.75 m 258.5 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 197.75 m 322.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 183.75 m 322.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 181.75 m 322.5 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 197.75 m 384.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 183.75 m 384.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 181.75 m 384.5 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 197.75 m 443.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 183.75 m 443.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 181.75 m 443.5 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 197.75 m 502.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 183.75 m 502.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 181.75 m 502.5 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 197.75 m 561.5 197.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 183.75 m 561.5 183.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 181.75 m 561.5 181.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 89.75 m 258.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 89.75 m 322.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 89.75 m 384.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 89.75 m 443.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 89.75 m 502.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 89.75 m 258.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 75.75 m 258.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203.5 73.75 m 258.5 73.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 75.75 m 322.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262.5 73.75 m 322.5 73.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 75.75 m 384.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326.5 73.75 m 384.5 73.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 75.75 m 443.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 73.75 m 443.5 73.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 75.75 m 502.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447.5 73.75 m 502.5 73.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 89.75 m 561.5 89.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 75.75 m 561.5 75.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506.5 73.75 m 561.5 73.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 212.90 522.98 Td (Operating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 218.25 514.98 Td (income) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 221.60 506.98 Td (\(loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 281.10 530.98 Td (Stock-) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 282.20 522.98 Td (based) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.40 514.98 Td (compensation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 278.65 506.98 Td (expense) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 336.20 530.98 Td (Loss\(gain\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 331.65 522.98 Td (on disposal of) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 338.55 514.98 Td (operating) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 345.20 506.98 Td (assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.55 522.98 Td (Depr) Tj ET Q q 0 0 0 rg BT 410.73 522.98 Td (eciation) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 409.05 514.98 Td (and) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.50 506.98 Td (amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 454.90 514.98 Td (Acquisition) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.60 506.98 Td (expenses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.90 506.98 Td (AOI) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 494.00 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 359.00 494.00 Td (\(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 480.48 Td (Three Months Ended September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 466.32 Td (Concerts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 466.32 Td (84,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 466.32 Td (1,886) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.30 466.37 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 466.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 466.32 Td (52,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 466.32 Td (15,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 466.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 466.32 Td (154,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 452.32 Td (Sponsorship& Advertising) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 452.32 Td (106,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 452.32 Td (346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 452.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 452.32 Td (6,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 452.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 452.32 Td (113,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 438.32 Td (Ticketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 438.32 Td (54,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 438.32 Td (1,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 438.32 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 438.32 Td (50,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 438.32 Td (274) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 438.32 Td (105,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 424.32 Td (Other and Eliminations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.80 424.32 Td (\(2,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 424.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 424.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 424.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.80 424.37 Td (\(1,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 424.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 424.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 424.37 Td (\(3,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 424.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 410.32 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.80 410.32 Td (\(41,254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 410.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 410.32 Td (4,520) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 410.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 410.32 Td (1,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.30 410.37 Td (\(72) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 410.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 410.37 Td (\(35,444) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 410.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 396.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 396.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 396.32 Td (201,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 396.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 396.32 Td (7,820) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 396.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 396.32 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 396.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 396.32 Td (109,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 396.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 396.32 Td (15,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 396.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 396.32 Td (334,513) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 380.98 Td (Three Months Ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 365.32 Td (Concerts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 365.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 365.32 Td (78,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 365.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 365.32 Td (2,661) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 365.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 365.32 Td (241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 365.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 365.32 Td (52,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 365.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.80 365.37 Td (\(2,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 365.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 365.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 365.32 Td (130,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 351.32 Td (Sponsorship& Advertising) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 351.32 Td (95,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 351.32 Td (305) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 351.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 351.32 Td (4,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 351.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 351.32 Td (100,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 337.32 Td (Ticketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 337.32 Td (53,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 337.32 Td (744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 337.32 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 337.32 Td (47,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 337.32 Td (500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 337.32 Td (101,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 323.32 Td (Other and Eliminations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.80 323.32 Td (\(3,264) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 323.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 323.32 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 323.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 323.32 Td (361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 323.32 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 323.37 Td (\(2,861) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 323.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 309.32 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.80 309.32 Td (\(32,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 309.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 309.32 Td (4,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.30 309.37 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 309.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 309.32 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 309.32 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 309.37 Td (\(27,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 309.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 295.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 295.32 Td (191,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 295.32 Td (8,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 295.32 Td (253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 295.32 Td (104,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.80 295.37 Td (\(1,738) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 295.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 295.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 295.32 Td (302,756) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 279.48 Td (Nine Months Ended September 30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 263.32 Td (Concerts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 262.42 Td (46,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 262.42 Td (6,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 262.47 Td (\(609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 262.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 262.42 Td (144,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 262.42 Td (23,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 262.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 262.42 Td (220,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 248.32 Td (Sponsorship& Advertising) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 247.42 Td (203,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 247.42 Td (1,028) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 247.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 247.42 Td (19,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 247.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 247.42 Td (224,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 233.32 Td (Ticketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 232.42 Td (152,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 232.42 Td (3,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 232.42 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 232.42 Td (140,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 232.42 Td (1,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 232.42 Td (298,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 218.32 Td (Other and Eliminations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.80 217.42 Td (\(7,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 217.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 217.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 217.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.80 217.47 Td (\(2,755) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 217.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 217.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 217.47 Td (\(10,252) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 217.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 203.32 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.80 202.42 Td (\(101,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 202.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 202.42 Td (13,216) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 202.42 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 202.42 Td (3,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.30 202.47 Td (\(47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.65 202.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 202.47 Td (\(84,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 202.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 188.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 187.42 Td (293,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 187.42 Td (23,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 187.47 Td (\(507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 187.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 187.42 Td (305,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 187.42 Td (25,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 187.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 187.42 Td (647,963) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 171.48 Td (Nine Months Ended September 30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 155.32 Td (Concerts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 154.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.15 154.42 Td (14,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 154.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 154.42 Td (8,604) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 154.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.30 154.47 Td (\(162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 154.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 154.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 154.42 Td (146,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 154.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 154.42 Td (3,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 154.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 154.42 Td (172,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 140.32 Td (Sponsorship& Advertising) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 139.42 Td (179,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.65 139.42 Td (995) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 139.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 139.42 Td (13,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 139.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 139.42 Td (194,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 125.32 Td (Ticketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 124.42 Td (135,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.15 124.42 Td (2,327) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 124.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 124.42 Td (132,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 124.42 Td (720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 124.42 Td (271,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 110.32 Td (Other and Eliminations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.80 109.42 Td (\(9,200) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 109.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.65 109.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.65 109.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 109.42 Td (136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.65 109.42 Td (207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 109.47 Td (\(8,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 109.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 95.32 Td (Corporate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.80 94.42 Td (\(88,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.65 94.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 94.42 Td (13,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.65 94.42 Td (117) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 94.42 Td (2,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 94.42 Td (64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 94.47 Td (\(72,303) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 94.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 80.32 Td (Total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.15 79.42 Td (232,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.15 79.42 Td (25,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.30 79.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 79.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.15 79.42 Td (295,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 79.42 Td (4,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.00 79.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 79.42 Td (557,196) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 47 0 obj <>] /Rotate 0 /Contents 48 0 R>> endobj 48 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (21) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 742.25 Td (AOI Margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 109.64 724.25 Td (gin is a non-GAAP) Tj ET Q q 0 0 0 rg BT 186.21 724.25 Td ( financial measure that we calculate by dividing ) Tj ET Q q 0 0 0 rg BT 379.47 724.25 Td (AOI by revenue. ) Tj ET Q q 0 0 0 rg BT 448.71 724.25 Td (W) Tj ET Q q 0 0 0 rg BT 457.35 724.25 Td (e use ) Tj ET Q q 0 0 0 rg BT 479.57 724.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 515.21 724.25 Td (gin to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (evaluate the performance of our operating segments. ) Tj ET Q q 0 0 0 rg BT 262.51 712.25 Td (W) Tj ET Q q 0 0 0 rg BT 271.15 712.25 Td (e believe that information about the ) Tj ET Q q 0 0 0 rg BT 415.55 712.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 451.19 712.25 Td (gin assists investors by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (allowing them to evaluate changes in the operating results of our portfolio of businesses separate from non-operational factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (that af) Tj ET Q q 0 0 0 rg BT 75.08 688.25 Td (fect net income, thus providing insights into both operations and the other factors that af) Tj ET Q q 0 0 0 rg BT 427.88 688.25 Td (fect reported results. ) Tj ET Q q 0 0 0 rg BT 511.73 688.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 547.37 688.25 Td (gin ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (is not calculated or presented in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 273.26 676.25 Td (. ) Tj ET Q q 0 0 0 rg BT 277.71 676.25 Td (A) Tj ET Q q 0 0 0 rg BT 284.38 676.25 Td ( limitation of the use of ) Tj ET Q q 0 0 0 rg BT 379.92 676.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 415.56 676.25 Td (gin as a performance measure is that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (it does not reflect the periodic costs of certain amortizing assets used in generating revenue in our business. ) Tj ET Q q 0 0 0 rg BT 481.26 664.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 530.60 664.25 Td (, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 85.64 652.25 Td (gin should be considered in addition to, and not as a substitute for) Tj ET Q q 0 0 0 rg BT 348.25 652.25 Td (, operating income \(loss\) mar) Tj ET Q q 0 0 0 rg BT 465.54 652.25 Td (gin, net income \(loss\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (mar) Tj ET Q q 0 0 0 rg BT 65.37 640.25 Td (gin, and other measures of financial performance reported in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 404.12 640.25 Td (. Furthermore, this measure may vary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (among other companies; thus, ) Tj ET Q q 0 0 0 rg BT 171.92 628.25 Td (AOI mar) Tj ET Q q 0 0 0 rg BT 207.56 628.25 Td (gin as presented herein may not be comparable to similarly titled measures of other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (companies. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 598.25 Td (Constant Currency) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 580.25 Td (Constant currency is a non-GAAP) Tj ET Q q 0 0 0 rg BT 209.33 580.25 Td ( financial measure. ) Tj ET Q q 0 0 0 rg BT 287.44 580.25 Td (W) Tj ET Q q 0 0 0 rg BT 296.08 580.25 Td (e calculate currency impacts as the dif) Tj ET Q q 0 0 0 rg BT 448.60 580.25 Td (ference between current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (period activity translated using the current period) Tj ET Q q 0 0 0 rg BT 249.94 568.25 Td (s currency exchange rates and the comparable prior period) Tj ET Q q 0 0 0 rg BT 486.49 568.25 Td (s currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (exchange rates. ) Tj ET Q q 0 0 0 rg BT 113.95 556.25 Td (W) Tj ET Q q 0 0 0 rg BT 122.59 556.25 Td (e present constant currency information to provide a framework for assessing how our underlying businesses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (performed excluding the ef) Tj ET Q q 0 0 0 rg BT 158.38 544.25 Td (fect of foreign currency rate fluctuations.) Tj ET Q endstream endobj 49 0 obj <>] /Rotate 0 /Contents 50 0 R>> endobj 50 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Segment Operating Results) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 724.25 Td (Concerts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 706.25 Td (Our Concerts segment operating results were, and discussions of significant variances are, as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 642.75 176.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 642.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 642.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 642.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 642.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 642.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 642.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 642.75 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 612.75 176.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 612.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 612.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 612.75 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 612.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 612.75 33.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 612.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 612.75 63.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 612.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 612.75 62.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 612.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 612.75 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 572.75 176.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 572.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 572.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 572.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 572.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 572.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 572.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 572.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 572.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 572.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 572.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 572.75 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 542.75 176.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 542.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 542.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 542.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 542.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 542.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 542.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 542.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 542.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 542.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 542.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 542.75 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 512.75 176.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 225.50 512.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 289.50 512.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 512.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 512.75 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.50 512.75 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 512.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 512.75 34.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 668.75 m 285.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 668.75 m 289.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 668.75 m 353.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 668.75 m 390.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 668.75 m 457.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 668.75 m 461.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 668.75 m 523.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.5 668.75 m 561.5 668.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 655.75 m 285.5 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 655.75 m 353.5 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 655.75 m 457.5 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 655.75 m 523.5 655.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 557.75 m 285.5 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 557.75 m 353.5 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 557.75 m 457.5 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 557.75 m 523.5 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 543.75 m 285.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 225.5 541.75 m 285.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 543.75 m 353.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 541.75 m 353.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 543.75 m 457.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394.5 541.75 m 457.5 541.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 543.75 m 523.5 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461.5 541.75 m 523.5 541.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 673.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.60 680.98 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 259.60 672.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 369.50 680.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 360.35 672.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.25 680.98 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.10 672.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.00 680.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.85 672.98 Td (Change) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 660.00 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 247.00 659.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 313.00 659.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 417.50 659.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.00 659.98 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 647.00 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 266.00 647.00 Td (\(in thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.50 647.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 632.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.00 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.60 632.42 Td (2,939,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 632.42 Td (2,644,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 632.42 Td (11%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.60 632.42 Td (6,052,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 632.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 632.42 Td (5,080,877) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 632.42 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 617.42 Td (Direct operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.60 617.42 Td (2,497,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.60 617.42 Td (2,247,976) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 617.42 Td (11%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.60 617.42 Td (5,057,567) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.60 617.42 Td (4,219,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 617.42 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 603.32 Td (Selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 593.32 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 592.42 Td (305,494) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 592.42 Td (265,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 592.42 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 592.42 Td (804,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 592.42 Td (701,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 592.42 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 577.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 577.42 Td (52,344) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 577.42 Td (52,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 577.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 577.42 Td (144,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 577.42 Td (146,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.00 577.42 Td (\(1\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 563.32 Td (Loss \(gain\) on disposal of operating assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.30 562.42 Td (\(21) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 562.42 Td (241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.00 562.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.30 562.47 Td (\(609) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.30 562.47 Td (\(162) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.65 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.50 562.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 547.42 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.00 547.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.15 547.42 Td (84,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 547.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.15 547.42 Td (78,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.80 547.42 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 547.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 547.42 Td (46,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 547.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.15 547.42 Td (14,334) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.50 547.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 532.42 Td (Operating margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 532.42 Td (2.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 532.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 532.42 Td (3.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 532.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 532.42 Td (0.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 532.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 532.42 Td (0.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.65 532.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 517.42 Td (AOI**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.00 517.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.15 517.42 Td (154,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 517.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 517.42 Td (130,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.30 517.42 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.00 517.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 517.42 Td (220,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.00 517.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.15 517.42 Td (172,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 517.42 Td (28%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 502.42 Td (AOI margin**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.15 502.42 Td (5.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 502.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 502.42 Td (5.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 502.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.15 502.42 Td (3.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.65 502.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.15 502.42 Td (3.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.65 502.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 480.25 Td (_______) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 460.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 460.32 Td (Percentages are not meaningful.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 445.32 Td (**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 445.32 Td (See Non-GAAP Measures above for definition and reconciliation of AOI and AOI margin.) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 422.25 Td (Three Months) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 404.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 386.25 Td (Concerts revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.69 386.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.45 386.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.95 386.25 Td ($295.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.84 386.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.66 386.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 386.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.47 386.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.74 386.25 Td ( as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 374.25 Td (period of the prior year) Tj ET Q q 0 0 0 rg BT 142.19 374.25 Td (. Excluding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.51 374.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.26 374.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.59 374.25 Td ($30.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.48 374.25 Td ( related to currency impacts, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.69 374.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.44 374.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.94 374.25 Td ($264.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.83 374.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 362.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 362.25 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.16 362.25 Td (, on a constant currency basis. ) Tj ET Q q 0 0 0 rg BT 201.72 362.25 Td (This increase was primarily due to more shows in arenas, stadiums and theaters and clubs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 350.25 Td (globally) Tj ET Q q 0 0 0 rg BT 82.12 350.25 Td (, higher average attendance at our events and incremental revenue of $64.3 million from acquisitions, primarily of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 338.25 Td (concert and festival promotion businesses. ) Tj ET Q q 0 0 0 rg BT 222.00 338.25 Td (These increases were partially of) Tj ET Q q 0 0 0 rg BT 353.42 338.25 Td (fset by fewer shows in our North ) Tj ET Q q 0 0 0 rg BT 487.01 338.25 Td (America ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 326.25 Td (amphitheaters.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 308.25 Td (Operating r) Tj ET Q q 0 0 0 rg BT 119.63 308.25 Td (esults) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 290.25 Td (The increased operating income for Concerts for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.08 290.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.07 290.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.89 290.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.16 290.25 Td ( was primarily driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 278.25 Td (improved operating results for arena events of) Tj ET Q q 0 0 0 rg BT 234.20 278.25 Td (fset by higher compensation costs associated with salary increases and headcount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 266.25 Td (growth, including recent acquisitions, and increased acquisition transaction expenses associated with changes in the fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 254.25 Td (of acquisition-related contingent consideration.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 236.25 Td (Nine Months) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 218.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 200.25 Td (Concerts revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.69 200.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.45 200.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.95 200.25 Td ($971.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.84 200.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.66 200.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.88 200.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.71 200.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.97 200.25 Td ( as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 188.25 Td (period of the prior year) Tj ET Q q 0 0 0 rg BT 142.19 188.25 Td (. Excluding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.51 188.25 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.92 188.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.25 188.25 Td ($13.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.14 188.25 Td ( related to currency impacts, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.35 188.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.10 188.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.60 188.25 Td ($984.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.49 188.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 176.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 176.25 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.16 176.25 Td (, on a constant currency basis. ) Tj ET Q q 0 0 0 rg BT 201.72 176.25 Td (This growth was primarily due to more shows in arenas, stadiums and theaters and clubs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 164.25 Td (globally along with higher average attendance at stadium and arena events. Festival activity also increased in Europe driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 152.25 Td (new festivals, and we had higher tour) Tj ET Q q 0 0 0 rg BT 199.48 152.25 Td (-related merchandise sales and commissions in the management business. Concerts had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 140.25 Td (incremental revenue of $192.0 million from acquisitions, primarily of concert and festival promotion businesses. ) Tj ET Q q 0 0 0 rg BT 503.32 140.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 128.25 Td (increases were partially of) Tj ET Q q 0 0 0 rg BT 155.04 128.25 Td (fset by fewer shows in our North ) Tj ET Q q 0 0 0 rg BT 288.63 128.25 Td (America amphitheaters.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 110.25 Td (Operating r) Tj ET Q q 0 0 0 rg BT 119.63 110.25 Td (esults) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 92.25 Td (The increase in operating income for Concerts for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.36 92.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.58 92.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.40 92.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.67 92.25 Td ( was primarily driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 80.25 Td (improved operating results at our events and higher management results partially of) Tj ET Q q 0 0 0 rg BT 384.44 80.25 Td (fset by higher compensation costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 68.25 Td (associated with salary increases and headcount growth, including recent acquisitions, and increased acquisition transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 56.25 Td (expenses associated with changes in the fair value of acquisition-related contingent consideration. ) Tj ET Q endstream endobj 51 0 obj <>] /Rotate 0 /Contents 52 0 R>> endobj 52 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Sponsorship& ) Tj ET Q q 0 0 0 rg BT 115.59 742.25 Td (Advertising) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (Our Sponsorship& ) Tj ET Q q 0 0 0 rg BT 153.73 724.25 Td (Advertising segment operating results were, and discussions of significant variances are, as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 47.50 660.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 660.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 660.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 660.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 660.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 660.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 660.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 47.50 630.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 630.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 630.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 630.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 630.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 630.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 630.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 47.50 600.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 600.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 600.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 600.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 600.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 600.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 600.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 47.50 570.75 190.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 570.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.50 570.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 570.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.50 570.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.50 570.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.50 570.75 38.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 686.75 m 296.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.5 686.75 m 300.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 686.75 m 358.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 686.75 m 395.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 686.75 m 458.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 686.75 m 462.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 686.75 m 521.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525.5 686.75 m 563.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 673.75 m 296.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 673.75 m 358.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 686.75 m 458.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 673.75 m 458.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.5 686.75 m 462.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 686.75 m 521.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 673.75 m 521.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 600.75 m 296.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 586.75 m 296.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 584.75 m 296.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 600.75 m 358.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 586.75 m 358.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300.5 584.75 m 358.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 600.75 m 458.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 586.75 m 458.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.5 584.75 m 458.5 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 600.75 m 521.5 600.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 586.75 m 521.5 586.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462.5 584.75 m 521.5 584.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 261.10 698.98 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.10 690.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 374.50 698.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 365.35 690.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.75 698.98 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 430.60 690.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.00 698.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.85 690.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.50 677.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.00 677.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.50 677.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.50 677.98 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 274.50 665.00 Td (\(in thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.00 665.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 651.32 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 650.42 Td (157,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.10 650.42 Td (136,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.30 650.42 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 650.42 Td (346,532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 650.42 Td (288,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 650.42 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 636.32 Td (Direct operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 635.42 Td (23,371) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 635.42 Td (15,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.30 635.42 Td (51%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 635.42 Td (60,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 635.42 Td (44,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 635.42 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 621.32 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.15 620.42 Td (21,320) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 620.42 Td (20,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.80 620.42 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 620.42 Td (62,989) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 620.42 Td (50,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 620.42 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 606.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.15 605.42 Td (6,601) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.15 605.42 Td (4,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.30 605.42 Td (48%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.15 605.42 Td (19,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 605.42 Td (13,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 605.42 Td (42%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 591.32 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 590.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 590.42 Td (106,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 590.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.15 590.42 Td (95,462) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.30 590.42 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 590.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 590.42 Td (203,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 590.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 590.42 Td (179,895) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 590.42 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 576.32 Td (Operating margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 575.42 Td (67.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 575.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 575.42 Td (70.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 575.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.15 575.42 Td (58.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 575.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 575.42 Td (62.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 575.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 561.32 Td (AOI**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 560.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.15 560.42 Td (113,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 560.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.10 560.42 Td (100,215) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.30 560.42 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.00 560.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.15 560.42 Td (224,055) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.00 560.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 560.42 Td (194,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.80 560.42 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 546.32 Td (AOI margin**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.15 545.42 Td (71.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.65 545.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.15 545.42 Td (73.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 545.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.15 545.42 Td (64.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.65 545.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 545.42 Td (67.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.65 545.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 529.25 Td (_______) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 509.32 Td (**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 509.32 Td (See Non-GAAP Measures above for definition and reconciliation of AOI and AOI margin.) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 486.25 Td (Three Months) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 468.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 450.25 Td (Sponsorship& ) Tj ET Q q 0 0 0 rg BT 135.68 450.25 Td (Advertising revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.54 450.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.30 450.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.80 450.25 Td ($21.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.69 450.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.51 450.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.50 450.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.32 450.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.59 450.25 Td ( as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 438.25 Td (compared to the same period of the prior year) Tj ET Q q 0 0 0 rg BT 232.15 438.25 Td (. Excluding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.47 438.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.23 438.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.56 438.25 Td ($1.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.45 438.25 Td ( related to currency impacts, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 426.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.75 426.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.25 426.25 Td ($20.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.15 426.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.98 426.25 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.31 426.25 Td (, on a constant currency basis. ) Tj ET Q q 0 0 0 rg BT 300.86 426.25 Td (This growth was primarily due to new sponsorship programs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (globally) Tj ET Q q 0 0 0 rg BT 82.12 414.25 Td (, higher online advertising in North ) Tj ET Q q 0 0 0 rg BT 225.16 414.25 Td (America and incremental revenue of $8.0 million from the acquisitions of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (sponsorship agency and festival promotion businesses.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 384.25 Td (Operating r) Tj ET Q q 0 0 0 rg BT 121.13 384.25 Td (esults) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 366.25 Td (The increase in Sponsorship & ) Tj ET Q q 0 0 0 rg BT 199.26 366.25 Td (Advertising operating income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.05 366.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.04 366.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.86 366.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.12 366.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 354.25 Td (primarily driven by new sponsorship programs, higher online sponsorship activity and lower reserves for bad debt.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 336.25 Td (Nine Months) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 318.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 300.25 Td (Sponsorship& ) Tj ET Q q 0 0 0 rg BT 135.68 300.25 Td (Advertising revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.54 300.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.30 300.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.80 300.25 Td ($57.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.69 300.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.51 300.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.73 300.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.55 300.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.82 300.25 Td ( as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 288.25 Td (compared to the same period of the prior year) Tj ET Q q 0 0 0 rg BT 232.15 288.25 Td (. Excluding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.47 288.25 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.89 288.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.22 288.25 Td ($0.9 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.11 288.25 Td ( related to currency impacts, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 276.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.75 276.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.25 276.25 Td ($58.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.15 276.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.98 276.25 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.31 276.25 Td (, on a constant currency basis. ) Tj ET Q q 0 0 0 rg BT 300.86 276.25 Td (This increase was primarily due to new sponsorship programs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 264.25 Td (higher online advertising in North ) Tj ET Q q 0 0 0 rg BT 188.03 264.25 Td (America, increased festival activity internationally and incremental revenue of $18.2 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.25 Td (from the acquisitions of a sponsorship agency and festival promotion businesses.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 234.25 Td (Operating r) Tj ET Q q 0 0 0 rg BT 121.13 234.25 Td (esults) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 216.25 Td (The increase in Sponsorship & ) Tj ET Q q 0 0 0 rg BT 199.26 216.25 Td (Advertising operating income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.05 216.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.27 216.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.09 216.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.36 216.25 Td ( was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 204.25 Td (primarily driven by new sponsorship programs, net of higher fulfillment costs, increased online advertising and festival activity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 192.25 Td (and lower reserves for bad debt partially of) Tj ET Q q 0 0 0 rg BT 222.25 192.25 Td (fset by increased compensation costs associated with higher headcount.) Tj ET Q endstream endobj 53 0 obj <>] /Rotate 0 /Contents 54 0 R>> endobj 54 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 56.49 742.25 Td (icketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 91.87 724.25 Td (T) Tj ET Q q 0 0 0 rg BT 97.63 724.25 Td (icketing segment operating results were, and discussions of significant variances are, as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 660.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 660.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 660.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 660.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 660.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 660.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 660.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 660.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 630.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 630.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 630.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 630.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 630.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 630.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 630.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 630.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 600.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 600.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 600.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 600.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 600.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 600.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 600.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 600.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 570.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 570.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 570.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 570.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 570.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 570.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 570.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 570.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 540.75 188.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 237.50 540.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 295.50 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.50 540.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.50 540.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.50 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.50 540.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.50 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 540.75 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.50 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.50 540.75 38.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 686.75 m 295.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 686.75 m 299.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 686.75 m 357.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361.5 686.75 m 394.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 686.75 m 456.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 686.75 m 460.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 686.75 m 519.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523.5 686.75 m 561.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 673.75 m 295.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 673.75 m 357.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 686.75 m 456.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 673.75 m 456.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456.5 686.75 m 460.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 686.75 m 519.5 686.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 673.75 m 519.5 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 585.75 m 295.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 585.75 m 357.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 585.75 m 456.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 585.75 m 519.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 571.75 m 295.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 237.5 569.75 m 295.5 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 571.75 m 357.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299.5 569.75 m 357.5 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 571.75 m 456.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.5 569.75 m 456.5 569.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 585.75 m 519.5 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 571.75 m 519.5 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460.5 569.75 m 519.5 569.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 260.60 698.98 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.60 690.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 373.50 698.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 364.35 690.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 424.25 698.98 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.10 690.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.00 698.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.85 690.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 258.00 677.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 320.00 677.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 419.00 677.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 481.50 677.98 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 274.00 665.00 Td (\(in thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 435.50 665.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 650.42 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 650.42 Td (532,285) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.10 650.42 Td (456,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.30 650.42 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.60 650.42 Td (1,510,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 650.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.60 650.42 Td (1,305,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 650.42 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 635.42 Td (Direct operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 635.42 Td (283,236) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.10 635.42 Td (231,979) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.30 635.42 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 635.42 Td (805,964) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 635.42 Td (673,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 635.42 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 621.32 Td (Selling, general and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 620.42 Td (144,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.10 620.42 Td (124,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.30 620.42 Td (17%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 620.42 Td (411,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 620.42 Td (363,336) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 620.42 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 605.42 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 605.42 Td (50,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 605.42 Td (47,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.80 605.42 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 605.42 Td (140,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 605.42 Td (132,789) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.30 605.42 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 591.32 Td (Loss on disposal of operating assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.65 590.42 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.65 590.42 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.00 590.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 590.42 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.65 590.42 Td (44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.50 590.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 575.42 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 575.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.15 575.42 Td (54,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 575.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.15 575.42 Td (53,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.80 575.42 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 575.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 575.42 Td (152,328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 575.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 575.42 Td (135,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 575.42 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 560.42 Td (Operating margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 560.42 Td (10.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 560.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 560.42 Td (11.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 560.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 560.42 Td (10.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 560.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 560.42 Td (10.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.65 560.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 545.42 Td (AOI**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.00 545.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.10 545.42 Td (105,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.00 545.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.10 545.42 Td (101,701) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.80 545.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.00 545.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.10 545.42 Td (298,113) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.00 545.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.15 545.42 Td (271,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.80 545.42 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 530.42 Td (AOI margin**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.15 530.42 Td (19.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.65 530.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 530.42 Td (22.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 530.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 530.42 Td (19.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 530.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 530.42 Td (20.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.65 530.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 508.25 Td (_______) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 488.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 488.32 Td (Percentages are not meaningful.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 473.32 Td (**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.00 473.32 Td (See Non-GAAP Measures above for definition and reconciliation of AOI and AOI margin.) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 450.25 Td (Three Months) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 432.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 414.25 Td (T) Tj ET Q q 0 0 0 rg BT 78.26 414.25 Td (icketing revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.11 414.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.87 414.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.37 414.25 Td ($75.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.26 414.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.08 414.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.07 414.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.90 414.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.16 414.25 Td ( as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 402.25 Td (period of the prior year) Tj ET Q q 0 0 0 rg BT 142.19 402.25 Td (. Excluding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.51 402.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.26 402.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.59 402.25 Td ($4.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.48 402.25 Td ( related to currency impacts, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.69 402.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.44 402.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.94 402.25 Td ($71.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.83 402.25 Td (, or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 390.25 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.33 390.25 Td (, on a constant currency basis, primarily due to increased primary ticket volume and associated ticket fees, driven by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 378.25 Td (concert events, along with higher resale volume driven by concert and theatrical events. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 72.50 360.25 Td (Operating r) Tj ET Q q 0 0 0 rg BT 119.63 360.25 Td (esults ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 342.25 Td (The increase in ) Tj ET Q q 0 0 0 rg BT 135.90 342.25 Td (T) Tj ET Q q 0 0 0 rg BT 141.66 342.25 Td (icketing operating income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.44 342.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.43 342.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.25 342.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.52 342.25 Td ( was primarily due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 330.25 Td (improved operating results from higher primary and resale ticket sales partially of) Tj ET Q q 0 0 0 rg BT 377.21 330.25 Td (fset by increased compensation costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 318.25 Td (associated with higher headcount and increased legal costs. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 50.00 300.25 Td (Nine Months) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 282.25 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 264.25 Td (T) Tj ET Q q 0 0 0 rg BT 79.76 264.25 Td (icketing revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.61 264.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.37 264.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.87 264.25 Td ($205.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.76 264.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.58 264.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.80 264.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.63 264.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.89 264.25 Td ( as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 252.25 Td (period of the prior year) Tj ET Q q 0 0 0 rg BT 142.19 252.25 Td (. Excluding the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.51 252.25 Td (decrease) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.92 252.25 Td ( of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.25 252.25 Td ($6.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.14 252.25 Td ( related to currency impacts, revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.35 252.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.10 252.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 492.60 252.25 Td ($21) Tj ET Q q 0 0 0 rg BT 507.23 252.25 Td (1.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.12 252.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 240.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.83 240.25 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.16 240.25 Td (, on a constant currency basis, primarily due to increased global primary ticket volume and higher associated ticket fees, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 228.25 Td (driven by concert events, along with higher resale ticket volume driven by concert and theatrical events.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 210.25 Td (Operating r) Tj ET Q q 0 0 0 rg BT 121.13 210.25 Td (esults) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 192.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.05 192.25 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.80 192.25 Td ( in ) Tj ET Q q 0 0 0 rg BT 137.40 192.25 Td (T) Tj ET Q q 0 0 0 rg BT 143.16 192.25 Td (icketing operating income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.94 192.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.16 192.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.98 192.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.25 192.25 Td ( was primarily due to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 180.25 Td (improved operating results from higher primary and resale ticket sales partially of) Tj ET Q q 0 0 0 rg BT 377.21 180.25 Td (fset by increased compensation costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 168.25 Td (associated with higher headcount and increased legal costs.) Tj ET Q endstream endobj 55 0 obj <>] /Rotate 0 /Contents 56 0 R>> endobj 56 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 742.25 Td (Consolidated Results of Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 724.25 Td (Three Months) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 639.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 639.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 639.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 639.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 639.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 639.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 639.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 609.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 609.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 609.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 609.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 609.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 609.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 609.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 569.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 569.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 569.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 569.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 569.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 569.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 569.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 539.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 539.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 539.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 539.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 539.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 509.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 509.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 509.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 509.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 509.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 479.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 479.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 479.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 479.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 479.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 479.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 479.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 439.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 439.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 439.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 439.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 439.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 439.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 439.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 439.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 409.75 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 409.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 409.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 409.75 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 409.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 409.75 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 409.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 409.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 409.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 409.75 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 409.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 409.75 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 379.75 172.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.25 379.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 282.25 379.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.25 379.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.25 379.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.25 379.75 58.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.25 379.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.25 379.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.25 379.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.25 379.75 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.25 379.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.25 379.75 51.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 692.75 m 282.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.25 692.75 m 286.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 692.75 m 336.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 692.75 m 340.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 692.75 m 398.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 692.75 m 402.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 692.75 m 462.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 692.75 m 282.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 679.75 m 282.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 282.25 679.75 m 286.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 679.75 m 336.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.25 679.75 m 340.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 679.75 m 398.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 692.75 m 462.25 692.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 679.75 m 462.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.25 679.75 m 505.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505.25 679.75 m 509.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.25 679.75 m 560.25 679.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 652.75 m 282.25 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 652.75 m 336.25 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 652.75 m 398.25 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 652.75 m 462.25 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466.25 652.75 m 505.25 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509.25 652.75 m 560.25 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 524.75 m 462.25 524.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 524.75 m 282.25 524.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 524.75 m 336.25 524.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 510.75 m 336.25 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.25 508.75 m 336.25 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 524.75 m 398.25 524.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 510.75 m 398.25 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.25 508.75 m 398.25 508.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 524.75 m 462.25 524.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 424.75 m 282.25 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 424.75 m 402.25 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 424.75 m 462.25 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 424.75 m 282.25 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 424.75 m 402.25 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 424.75 m 462.25 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 394.75 m 282.25 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 394.75 m 402.25 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 394.75 m 462.25 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 394.75 m 282.25 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 394.75 m 462.25 394.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 354.75 m 282.25 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 354.75 m 402.25 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 354.75 m 462.25 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 354.75 m 282.25 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 330.75 m 282.25 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.25 328.75 m 282.25 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 330.75 m 402.25 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398.25 328.75 m 402.25 328.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 354.75 m 462.25 354.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 330.75 m 462.25 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402.25 328.75 m 462.25 328.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 280.00 696.98 Td (Three Months Ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 508.75 691.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 499.60 683.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 301.75 683.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.75 683.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.30 656.98 Td (As Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 294.35 664.98 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 296.95 656.98 Td (Impacts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.95 664.98 Td (At Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.35 656.98 Td (Currency**) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 410.30 656.98 Td (As Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.80 664.98 Td (As) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.25 656.98 Td (Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.45 664.98 Td (At Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.85 656.98 Td (Currency**) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 318.75 644.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 630.32 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.75 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.35 629.42 Td (3,559,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.75 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 629.47 Td (\(36,353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.40 629.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.75 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.35 629.42 Td (3,523,065) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.75 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.35 629.42 Td (3,170,416) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.05 629.42 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.05 629.42 Td (11%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 615.32 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.75 600.32 Td (Direct operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.35 599.42 Td (2,732,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.55 599.47 Td (\(28,689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.40 599.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.35 599.42 Td (2,704,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.35 599.42 Td (2,428,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.05 599.42 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.05 599.42 Td (11%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.75 585.32 Td (Selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.75 575.32 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.90 574.42 Td (475,864) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.55 574.47 Td (\(3,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.40 574.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.85 574.42 Td (472,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.90 574.42 Td (414,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.05 574.42 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.05 574.42 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.75 560.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.90 559.42 Td (109,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.05 559.47 Td (\(761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.40 559.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.85 559.42 Td (108,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.90 559.42 Td (104,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.55 559.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.55 559.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.75 545.32 Td (Loss on disposal of operating assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.40 544.42 Td (37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.40 544.42 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.40 544.42 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.40 544.42 Td (253) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.75 544.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.75 544.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.75 530.32 Td (Corporate expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.90 529.42 Td (39,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.40 529.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.90 529.42 Td (39,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.90 529.42 Td (31,600) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.05 529.42 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.05 529.42 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.75 514.42 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.90 514.42 Td (201,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.75 514.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.55 514.47 Td (\(3,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.40 514.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.75 514.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.85 514.42 Td (198,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.90 514.42 Td (191,286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.55 514.42 Td (5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.55 514.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.75 499.42 Td (Operating margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.90 499.42 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.40 499.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.90 499.42 Td (5.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.40 499.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.90 499.42 Td (6.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.40 499.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 485.32 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.90 484.42 Td (26,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.90 484.42 Td (25,249) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 470.32 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.55 469.42 Td (\(1,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.40 469.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.05 469.47 Td (\(625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.40 469.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 454.42 Td (Equity in losses of nonconsolidated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.75 444.42 Td (affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.40 444.42 Td (816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.90 444.42 Td (17,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 430.32 Td (Other expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.40 429.42 Td (920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.90 429.42 Td (2,606) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 415.32 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.90 414.42 Td (174,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.90 414.42 Td (146,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 400.32 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.90 399.42 Td (25,685) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.90 399.42 Td (13,824) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 385.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.90 384.42 Td (148,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.90 384.42 Td (132,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 369.42 Td (Net ) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 69.69 376.35 29.43 -9.09 re f /GS0 gs q 0 0 0 rg BT 69.69 369.42 Td (income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.12 369.42 Td ( attributable to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.75 359.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.90 359.42 Td (12,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.90 359.42 Td (21,682) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.75 344.42 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.75 334.42 Td (stockholders of Live Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.75 334.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.90 334.42 Td (136,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.75 334.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.90 334.42 Td (111,079) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.25 Td (______________________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 292.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 292.32 Td (Percentages are not meaningful.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 277.32 Td (**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 276.42 Td (See Non-GAAP Measures above for definition of constant currency.) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 254.25 Td (Equity in losses of nonconsolidated af) Tj ET Q q 0 0 0 rg BT 217.73 254.25 Td (filiates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 236.25 Td (Equity in losses of nonconsolidated af) Tj ET Q q 0 0 0 rg BT 224.29 236.25 Td (filiates for the three months ended September 30, 2016 includes impairment char) Tj ET Q q 0 0 0 rg BT 547.91 236.25 Td (ges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (of $15.1 million primarily related to investments in a digital content company and an online merchandise company that are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (located in the United States. ) Tj ET Q q 0 0 0 rg BT 164.29 212.25 Td (There were no significant impairment char) Tj ET Q q 0 0 0 rg BT 334.87 212.25 Td (ges recorded for the three months ended September 30, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.25 Td (2017.) 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0 J 0 j 3 M 510.75 697.75 m 561.75 697.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 670.75 m 282.75 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.75 670.75 m 336.75 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.75 670.75 m 399.75 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 670.75 m 463.75 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467.75 670.75 m 506.75 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510.75 670.75 m 561.75 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 542.75 m 463.75 542.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 542.75 m 282.75 542.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.75 542.75 m 336.75 542.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.75 528.75 m 336.75 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 286.75 526.75 m 336.75 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.75 542.75 m 399.75 542.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.75 528.75 m 399.75 528.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.75 526.75 m 399.75 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 442.75 m 282.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 442.75 m 403.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 442.75 m 463.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 442.75 m 282.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 442.75 m 403.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 442.75 m 463.75 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 412.75 m 282.75 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 412.75 m 403.75 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 412.75 m 463.75 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 412.75 m 282.75 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 372.75 m 282.75 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 372.75 m 403.75 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 372.75 m 463.75 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 372.75 m 282.75 372.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 348.75 m 282.75 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222.75 346.75 m 282.75 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 348.75 m 403.75 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.75 346.75 m 403.75 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 348.75 m 463.75 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.75 346.75 m 463.75 346.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.15 714.98 Td (Nine Months Ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.25 709.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 501.10 701.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 302.75 701.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 425.25 701.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 230.80 674.98 Td (As Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 294.85 682.98 Td (Currency) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 297.45 674.98 Td (Impacts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 348.95 682.98 Td (At Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 349.35 674.98 Td (Currency**) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 411.80 674.98 Td (As Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 482.30 682.98 Td (As) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 674.98 Td (Reported) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 514.95 682.98 Td (At Constant) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.35 674.98 Td (Currency**) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 319.75 662.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 648.32 Td (Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.25 647.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.85 647.42 Td (7,791,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.25 647.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.35 647.42 Td (20,642) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.25 647.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.85 647.42 Td (7,811,934) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.25 647.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.85 647.42 Td (6,557,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.55 647.42 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 647.42 Td (19%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 633.32 Td (Operating expenses:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.25 618.32 Td (Direct operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.85 617.42 Td (5,801,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.35 617.42 Td (13,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.85 617.42 Td (5,814,737) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.85 617.42 Td (4,817,894) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.55 617.42 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 617.42 Td (21%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.25 603.32 Td (Selling, general and administrative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.25 593.32 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.85 592.42 Td (1,293,557) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.35 592.42 Td (10,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.85 592.42 Td (1,304,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.85 592.42 Td (1,126,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.55 592.42 Td (15%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 592.42 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.25 578.32 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.40 577.42 Td (305,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.40 577.42 Td (2,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.40 577.42 Td (308,362) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.40 577.42 Td (295,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.05 577.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.05 577.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.25 563.32 Td (Gain on disposal of operating assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.55 562.42 Td (\(507) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.55 562.47 Td (\(19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.90 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.55 562.47 Td (\(526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.90 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.55 562.47 Td (\(1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 562.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.25 562.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.25 562.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.25 548.32 Td (Corporate expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.40 547.42 Td (97,711) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.90 547.42 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.40 547.42 Td (97,740) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.40 547.42 Td (85,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.55 547.42 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 547.42 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.25 532.42 Td (Operating income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.40 532.42 Td (293,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.25 532.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.05 532.47 Td (\(5,933) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.90 532.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.25 532.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.40 532.42 Td (287,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.40 532.42 Td (232,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.55 532.42 Td (26%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.55 532.42 Td (24%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.25 517.42 Td (Operating margin) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.40 517.42 Td (3.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 517.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.40 517.42 Td (3.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.90 517.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.40 517.42 Td (3.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 517.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 503.32 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.40 502.42 Td (80,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.40 502.42 Td (75,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 488.32 Td (Interest income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.05 487.42 Td (\(3,447) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 487.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.05 487.47 Td (\(1,831) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.90 487.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 472.42 Td (Equity in losses \(earnings\) of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.25 462.42 Td (nonconsolidated affiliates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.05 462.42 Td (\(2,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 462.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.40 462.42 Td (17,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 448.32 Td (Other expense \(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.05 447.42 Td (\(5,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 447.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.40 447.42 Td (1,412) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 433.32 Td (Income before income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.40 432.42 Td (223,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.40 432.42 Td (139,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 418.32 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.40 417.42 Td (42,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.40 417.42 Td (26,157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 403.32 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.40 402.42 Td (181,555) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.40 402.42 Td (113,268) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 387.42 Td (Net income \(loss\) attributable to) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.25 377.42 Td (noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.05 377.42 Td (\(3,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 273.90 377.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.40 377.42 Td (8,966) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.25 362.42 Td (Net income attributable to common) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.25 352.42 Td (stockholders of Live Nation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.25 352.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.40 352.42 Td (184,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.25 352.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.40 352.42 Td (104,302) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 318.25 Td (The following table summarizes the components of depreciation and amortization as reported in each respective period:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 258.75 183.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.25 258.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.25 258.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.25 258.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.25 258.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.25 258.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.25 258.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.25 258.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.25 258.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.25 258.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.25 258.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.25 258.75 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 228.75 183.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.25 228.75 60.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.25 228.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.25 228.75 60.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.25 228.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.25 228.75 33.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.25 228.75 6.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.25 228.75 60.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.25 228.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.25 228.75 60.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.25 228.75 4.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.25 228.75 34.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 190.75 183.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 232.25 190.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.25 190.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.25 190.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.25 190.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.25 190.75 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.25 190.75 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.25 190.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.25 190.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.25 190.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.25 190.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.25 190.75 34.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 286.75 m 292.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292.25 286.75 m 296.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 286.75 m 356.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.25 286.75 m 459.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459.25 286.75 m 463.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 286.75 m 523.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 286.75 m 292.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 273.75 m 292.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 286.75 m 356.25 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 273.75 m 356.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.25 273.75 m 459.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 273.75 m 523.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527.25 273.75 m 561.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 273.75 m 292.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 273.75 m 356.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360.25 273.75 m 393.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.25 273.75 m 459.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 273.75 m 523.25 273.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 190.75 m 292.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 190.75 m 356.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.25 190.75 m 459.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 190.75 m 523.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 190.75 m 292.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 176.75 m 292.25 176.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 232.25 174.75 m 292.25 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 190.75 m 356.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 176.75 m 356.25 176.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296.25 174.75 m 356.25 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.25 176.75 m 459.25 176.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399.25 174.75 m 459.25 174.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 190.75 m 523.25 190.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 176.75 m 523.25 176.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463.25 174.75 m 523.25 174.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 257.35 298.98 Td (Three Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 264.35 290.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 372.25 285.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 363.10 277.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.50 298.98 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 431.35 290.98 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 539.75 285.98 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 530.60 277.98 Td (Change) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 253.75 277.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 317.75 277.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 420.75 277.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.75 277.98 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 270.75 263.00 Td (\(in thousands\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.75 263.00 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 248.42 Td (Depreciation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.75 248.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.90 248.42 Td (35,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.75 248.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.90 248.42 Td (36,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.25 248.42 Td (\(2\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.75 248.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.90 248.42 Td (107,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.75 248.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.90 248.42 Td (104,100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.05 248.42 Td (3%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 234.32 Td (Amortization of intangibles) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.90 233.42 Td (53,410) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.90 233.42 Td (47,827) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.05 233.42 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.90 233.42 Td (143,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.90 233.42 Td (132,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.05 233.42 Td (8%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 219.32 Td (Amortization of nonrecoupable ticketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.75 209.32 Td (contract advances ***) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.90 210.42 Td (20,125) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.90 210.42 Td (20,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.25 210.42 Td (\(2\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.90 210.42 Td (54,892) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.90 210.42 Td (56,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.75 210.42 Td (\(4\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.75 196.32 Td (Amortization of other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.40 195.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.05 195.47 Td (\(85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.40 195.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.75 195.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.40 195.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.90 195.42 Td (1,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.25 195.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.75 180.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.90 180.42 Td (109,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.75 180.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.90 180.42 Td (104,862) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.55 180.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.75 180.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.90 180.42 Td (305,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.75 180.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.90 180.42 Td (295,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.05 180.42 Td (4%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (___________) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 144.32 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 144.32 Td (Percentages are not meaningful.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 129.32 Td (**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 128.42 Td (See Non-GAAP Measures above for definition of constant currency.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 114.32 Td (***) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 114.32 Td (In accounting for the merger between Live Nation and Ticketmaster Entertainment LLC in January 2010, the) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 104.32 Td (nonrecoupable ticketing contract advances that existed at the date of the merger were written off in acquisition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 94.32 Td (accounting in accordance with GAAP. Had we continued amortizing the net book value of these nonrecoupable ticketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 84.32 Td (contract advances, the amortization above would have been $0.4 million and $0.3 million higher for the three months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 74.32 Td (ended September 30, 2017 and 2016, respectively, and $1.2 million and $1.0 million higher for the nine months ended) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 64.32 Td (September 30, 2017 and 2016, respectively.) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 59 0 obj <>] /Rotate 0 /Contents 60 0 R>> endobj 60 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (27) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 742.25 Td (Corporate expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 724.25 Td (Corporate expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.08 724.25 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.84 724.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.34 724.25 Td ($12.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.23 724.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.05 724.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.27 724.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.10 724.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.36 724.25 Td ( as compared to the same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (period of the prior year primarily due to increases in contractual bonus accruals and higher headcount. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 694.25 Td (Equity in losses \(earnings\) of nonconsolidated af) Tj ET Q q 0 0 0 rg BT 263.01 694.25 Td (filiates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 676.25 Td ( Equity in losses \(earnings\) of nonconsolidated af) Tj ET Q q 0 0 0 rg BT 269.83 676.25 Td (filiates for the nine months ended September 30, 2016 includes the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 664.25 Td (impairment char) Tj ET Q q 0 0 0 rg BT 115.13 664.25 Td (ges discussed above in Consolidated Results of Operations for the three-month period. ) Tj ET Q q 0 0 0 rg BT 482.36 664.25 Td (There were no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (significant impairment char) Tj ET Q q 0 0 0 rg BT 159.84 652.25 Td (ges recorded for the nine months ended September 30, 2017.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 634.25 Td (Other expense \(income\), net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 616.25 Td (Other expense \(income\), net includes the impact of net foreign exchange rate gains of $7.3 million and net foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 604.25 Td (exchange rate losses of $0.8 million for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.73 604.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.95 604.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.77 604.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.04 604.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.47 604.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.47 604.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 475.13 604.25 Td (, primarily from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 592.25 Td (revaluation of certain foreign currency denominated net assets held internationally) Tj ET Q q 0 0 0 rg BT 378.45 592.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 574.25 Td (Income tax expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 556.25 Td (For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 104.61 556.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.83 556.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.65 556.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.91 556.25 Td (, we had a net tax expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.92 556.25 Td ($42.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.81 556.25 Td ( on income before income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.25 Td (taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.38 544.25 Td ($223.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.27 544.25 Td ( compared to a net tax expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.88 544.25 Td ($26.2 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.77 544.25 Td ( on income before income taxes of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.55 544.25 Td ($139.4 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.44 544.25 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.72 532.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.54 532.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.81 532.25 Td (. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.91 532.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.13 532.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.96 532.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.22 532.25 Td (, income tax expense consisted of $38.0 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (million related to foreign entities, $0.5 million related to United States federal income taxes and $3.7 million related to state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.25 Td (and local income taxes. ) Tj ET Q q 0 0 0 rg BT 145.67 508.25 Td (The net increase in tax expense of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.22 508.25 Td ($16.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.11 508.25 Td ( is due primarily to an increase in earnings in certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.25 Td (non-United States jurisdictions. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.50 478.25 Td (Net income \(loss\) attributable to noncontrolling interests) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.00 460.25 Td (Net income \(loss\) attributable to noncontrolling interests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.12 460.25 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.53 460.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 343.03 460.25 Td ($12.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.92 460.25 Td ( as compared to the same period of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 448.25 Td (prior year to a loss of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.25 448.25 Td ($3.3 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.15 448.25 Td ( during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.97 448.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.19 448.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.01 448.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.28 448.25 Td ( due to lower operating results from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (certain festival and management businesses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 414.25 Td (Liquidity and Capital Resour) Tj ET Q q 0 0 0 rg BT 175.68 414.25 Td (ces) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 396.25 Td (Our cash is centrally managed on a worldwide basis. Our primary short-term liquidity needs are to fund general working ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 384.25 Td (capital requirements, capital expenditures and debt service requirements while our long-term liquidity needs are primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 372.25 Td (related to acquisitions and debt repayment. Our primary sources of funds for our short-term liquidity needs will be cash flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 360.25 Td (from operations and borrowings under our senior secured credit facility) Tj ET Q q 0 0 0 rg BT 335.09 360.25 Td (, while our long-term sources of funds will be from cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 348.25 Td (flows from operations, long-term bank borrowings and other debt or equity financings. ) Tj ET Q q 0 0 0 rg BT 399.74 348.25 Td (W) Tj ET Q q 0 0 0 rg BT 408.38 348.25 Td (e may from time to time engage in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 336.25 Td (open market purchases of our outstanding debt securities or redeem or otherwise repay such debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 318.25 Td (Our balance sheet reflects cash and cash equivalents of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.40 318.25 Td ($1.8 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.52 318.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.73 318.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.00 318.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.43 318.25 Td ($1.5 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.55 318.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 306.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.58 306.25 Td (. Included in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.06 306.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.33 306.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.77 306.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.35 306.25 Td ( cash and cash equivalents balances are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.00 306.25 Td ($639.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 294.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.89 294.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.33 294.25 Td ($591.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.22 294.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 209.88 294.25 Td (, of cash received that includes the face value of tickets sold on behalf of our ticketing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 282.25 Td (clients and their share of service char) Tj ET Q q 0 0 0 rg BT 198.64 282.25 Td (ges that we refer to as client cash. ) Tj ET Q q 0 0 0 rg BT 335.90 282.25 Td (W) Tj ET Q q 0 0 0 rg BT 344.54 282.25 Td (e generally do not utilize client cash for our own ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 270.25 Td (financing or investing activities as the amounts are payable to clients on a regular basis. Our foreign subsidiaries held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 258.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.26 258.25 Td ($733.6 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.15 258.25 Td ( in cash and cash equivalents, excluding client cash, at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.08 258.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.34 258.25 Td (.) Tj ET Q q 0 0 0 rg BT 474.16 258.25 Td (W) Tj ET Q q 0 0 0 rg BT 482.80 258.25 Td (e generally do not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 246.25 Td (intend to repatriate these funds, but if we did, we would need to accrue and pay United States federal and state income taxes on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 234.25 Td (any future repatriations, net of applicable foreign tax credits. ) Tj ET Q q 0 0 0 rg BT 295.00 234.25 Td (W) Tj ET Q q 0 0 0 rg BT 303.64 234.25 Td (e may from time to time enter into borrowings under our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 222.25 Td (revolving credit facility) Tj ET Q q 0 0 0 rg BT 143.76 222.25 Td (. If the original maturity of these borrowings is 90 days or less, we present the borrowings and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 210.25 Td (subsequent repayments on a net basis in the statement of cash flows to better represent our financing activities. Our balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 198.25 Td (sheet reflects total net debt of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.51 198.25 Td ($2.3 billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.62 198.25 Td ( at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.84 198.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.10 198.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.54 198.25 Td (December31, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.12 198.25 Td (. Our weighted-average cost of debt, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 186.25 Td (excluding unamortized debt discounts and debt issuance costs on our term loans and notes, was 3.9% at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.85 186.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.11 186.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 168.25 Td (Our cash and cash equivalents are held in accounts managed by third-party financial institutions and consist of cash in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 156.25 Td (our operating accounts and invested cash. Cash held in non-interest-bearing and interest-bearing operating accounts in many ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 144.25 Td (cases exceeds the Federal Deposit Insurance Corporation insurance limits. ) Tj ET Q q 0 0 0 rg BT 349.17 144.25 Td (The invested cash is in interest-bearing funds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 132.25 Td (consisting primarily of bank deposits and money market funds. ) Tj ET Q q 0 0 0 rg BT 304.78 132.25 Td (While we monitor cash and cash equivalents balances in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 120.25 Td (operating accounts on a regular basis and adjust the balances as appropriate, these balances could be impacted if the underlying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 108.25 Td (financial institutions fail. ) Tj ET Q q 0 0 0 rg BT 152.58 108.25 Td (T) Tj ET Q q 0 0 0 rg BT 157.99 108.25 Td (o date, we have experienced no loss or lack of access to our cash and cash equivalents; however) Tj ET Q q 0 0 0 rg BT 541.33 108.25 Td (, we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 96.25 Td (can provide no assurances that access to our cash and cash equivalents will not be impacted by adverse conditions in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 84.25 Td (financial markets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 66.25 Td (For our Concerts segment, we generally receive cash related to ticket revenue at our owned or operated venues in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 54.25 Td (advance of the event, which is recorded in deferred revenue until the event occurs. ) Tj ET Q q 0 0 0 rg BT 381.89 54.25 Td (W) Tj ET Q q 0 0 0 rg BT 390.93 54.25 Td (ith the exception of some upfront costs ) Tj ET Q endstream endobj 61 0 obj <>] /Rotate 0 /Contents 62 0 R>> endobj 62 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 742.10 Td (and artist deposits, which are recorded in prepaid expenses until the event occurs, we pay the majority of event-related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (expenses at or after the event.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 712.10 Td (W) Tj ET Q q 0 0 0 rg BT 81.14 712.10 Td (e view our available cash as cash and cash equivalents, less ticketing-related client cash, less event-related deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.10 Td (revenue, less accrued expenses due to artists and cash collected on behalf of others, plus event-related prepaid expenses. ) Tj ET Q q 0 0 0 rg BT 533.24 700.10 Td (This is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.10 Td (essentially our cash available to, among other things, repay debt balances, make acquisitions, pay artist advances and finance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.10 Td (capital expenditures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 658.10 Td (Our intra-year cash fluctuations are impacted by the seasonality of our various businesses. Examples of seasonal ef) Tj ET Q q 0 0 0 rg BT 533.95 658.10 Td (fects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.10 Td (include our Concerts segment, which reports the majority of its revenue in the second and third quarters. Cash inflows and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.10 Td (outflows depend on the timing of event-related payments but the majority of the inflows generally occur prior to the event. See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 622.10 Td (Seasonality below) Tj ET Q q 0 0 0 rg BT 141.27 622.10 Td (. ) Tj ET Q q 0 0 0 rg BT 146.09 622.10 Td (W) Tj ET Q q 0 0 0 rg BT 154.73 622.10 Td (e believe that we have suf) Tj ET Q q 0 0 0 rg BT 258.11 622.10 Td (ficient financial flexibility to fund these fluctuations and to access the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.10 Td (global capital markets on satisfactory terms and in adequate amounts, although there can be no assurance that this will be the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.10 Td (case, and capital could be less accessible and/or more costly given current economic conditions. ) Tj ET Q q 0 0 0 rg BT 436.35 598.10 Td (W) Tj ET Q q 0 0 0 rg BT 444.99 598.10 Td (e expect cash flows from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.10 Td (operations and borrowings under our senior secured credit facility) Tj ET Q q 0 0 0 rg BT 313.15 586.10 Td (, along with other financing alternatives, to satisfy working ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.10 Td (capital requirements, capital expenditures and debt service requirements for at least the succeeding year) Tj ET Q q 0 0 0 rg BT 464.27 574.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 556.10 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 556.10 Td (e may need to incur additional debt or issue equity to make other strategic acquisitions or investments. ) Tj ET Q q 0 0 0 rg BT 494.58 556.10 Td (There can be no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.10 Td (assurance that such financing will be available to us on acceptable terms or at all. ) Tj ET Q q 0 0 0 rg BT 377.48 544.10 Td (W) Tj ET Q q 0 0 0 rg BT 386.11 544.10 Td (e may make significant acquisitions in the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 532.10 Td (near term, subject to limitations imposed by our financing agreements and market conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 514.10 Td (The lenders under our revolving loans and counterparties to our interest rate hedge agreements consist of banks and other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.10 Td (third-party financial institutions. ) Tj ET Q q 0 0 0 rg BT 182.02 502.10 Td (While we currently have no indications or expectations that such lenders and counterparties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.10 Td (will be unable to fund their commitments as required, we can provide no assurances that future funding availability will not be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.10 Td (impacted by adverse conditions in the financial markets. Should an individual lender default on its obligations, the remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.10 Td (lenders would not be required to fund the shortfall, resulting in a reduction in the total amount available to us for future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 454.10 Td (borrowings, but would remain obligated to fund their own commitments. Should any counterparty to our interest rate hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.10 Td (agreements default on its obligations, we could experience higher interest rate volatility during the period of any such default.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 424.10 Td (Sour) Tj ET Q q 0 0 0 rg BT 70.38 424.10 Td (ces of Cash) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 406.10 Td (Senior Secured Credit Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 388.10 Td (In June 2017, we amended our term loan B under the senior secured credit facility reducing the applicable interest rate. ) Tj ET Q q 0 0 0 rg BT 550.66 388.10 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 376.10 Td (, our senior secured credit facility consists of \(i\) a $190 million term loan ) Tj ET Q q 0 0 0 rg BT 424.91 376.10 Td (A) Tj ET Q q 0 0 0 rg BT 431.58 376.10 Td ( facility) Tj ET Q q 0 0 0 rg BT 461.75 376.10 Td (, \(ii\) a $970 million term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.10 Td (loan B facility and \(iii\) a $365 million revolving credit facility) Tj ET Q q 0 0 0 rg BT 298.73 364.10 Td (. Subject to certain conditions, we have the right to increase the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 352.10 Td (facility by an amount equal to the sum of $625 million and the aggregate principal amount of voluntary prepayments of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 340.10 Td (term B loans and permanent reductions of the revolving credit facility commitments, in each case, other than from proceeds of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 328.10 Td (long-term indebtedness, and additional amounts so long as the senior secured leverage ratio calculated on a pro-forma basis \(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.10 Td (defined in the agreement\) is no greater than 3.25x. ) Tj ET Q q 0 0 0 rg BT 253.91 316.10 Td (The revolving credit facility provides for borrowing up to the amount of the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.10 Td (facility with sublimits of up to \(i\) $150 million for the issuance of letters of credit, \(ii\) $50 million for swingline loans, \(iii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.10 Td ($200 million for borrowings in Euros and British Pounds and \(iv\) $50 million for borrowings in one or more other approved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.10 Td (currencies. ) Tj ET Q q 0 0 0 rg BT 95.90 280.10 Td (The senior secured credit facility is secured by \(i\) a first priority lien on substantially all of our tangible and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.10 Td (intangible personal property of our domestic subsidiaries that are guarantors and \(ii\) a pledge of substantially all of the shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 256.10 Td (of stock, partnership interests and limited liability company interests of our direct and indirect domestic subsidiaries and 65% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 244.10 Td (of each class of capital stock of any first-tier foreign subsidiaries, subject to certain exceptions. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 226.10 Td (The interest rates per annum applicable to revolving credit facility loans and the term loan ) Tj ET Q q 0 0 0 rg BT 436.37 226.10 Td (A) Tj ET Q q 0 0 0 rg BT 443.04 226.10 Td ( under the senior secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.10 Td (credit facility are, at our option, equal to either LIBOR plus 2.25% or a base rate plus 1.25%, subject to stepdowns based on our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.10 Td (net leverage ratio. ) Tj ET Q q 0 0 0 rg BT 124.22 202.10 Td (The amended interest rates per annum applicable to the term loan B are, at our option, equal to either LIBOR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 190.10 Td (plus 2.25% or a base rate plus 1.25%. ) Tj ET Q q 0 0 0 rg BT 202.84 190.10 Td (W) Tj ET Q q 0 0 0 rg BT 211.48 190.10 Td (e are required to pay a commitment fee of 0.5% per year on the undrawn portion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 178.10 Td (available under the revolving credit facility) Tj ET Q q 0 0 0 rg BT 222.33 178.10 Td (, subject to a stepdown based on our net leverage ratio, and variable fees on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 166.10 Td (outstanding letters of credit. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 148.10 Td (For the term loan ) Tj ET Q q 0 0 0 rg BT 145.10 148.10 Td (A, we are required to make quarterly payments increasing over time from $2.4 million to $28.5 million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 136.10 Td (with the balance due at maturity in October 2021. For the term loan B, we are required to make quarterly payments of $2.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 124.10 Td (million with the balance due at maturity in October 2023. ) Tj ET Q q 0 0 0 rg BT 282.26 124.10 Td (The revolving credit facility matures in October 2021. ) Tj ET Q q 0 0 0 rg BT 501.18 124.10 Td (W) Tj ET Q q 0 0 0 rg BT 509.81 124.10 Td (e are also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.10 Td (required to make mandatory prepayments of the loans under the credit agreement, subject to specified exceptions, from excess ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (cash flow) Tj ET Q q 0 0 0 rg BT 87.95 100.10 Td (, and with the proceeds of asset sales, debt issuances and specified other events. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 63.50 82.10 Td (Stock Option Exercises) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 64.10 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.05 64.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.26 64.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.09 64.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.35 64.10 Td (, we received ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.88 64.10 Td ($44.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.77 64.10 Td ( of proceeds from the exercise of stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.10 Td (options.) Tj ET Q endstream endobj 63 0 obj <>] /Rotate 0 /Contents 64 0 R>> endobj 64 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (29) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 72.50 742.25 Td (Debt Covenants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 724.25 Td (Our senior secured credit facility contains a number of covenants and restrictions that, among other things, requires us to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (satisfy certain financial covenants and restricts our and our subsidiaries) Tj ET Q q 0 0 0 rg BT 337.77 712.25 Td ( ability to incur additional debt, make certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (investments and acquisitions, repurchase our stock and prepay certain indebtedness, create liens, enter into agreements with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (af) Tj ET Q q 0 0 0 rg BT 57.59 688.25 Td (filiates, modify the nature of our business, enter into sale-leaseback transactions, transfer and sell material assets, mer) Tj ET Q q 0 0 0 rg BT 527.80 688.25 Td (ge or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (consolidate, and pay dividends and make distributions \(with the exception of subsidiary dividends or distributions to the parent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (company or other subsidiaries on at least a pro-rata basis with any noncontrolling interest partners\). Non-compliance with one ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (or more of the covenants and restrictions could result in the full or partial principal balance of the credit facility becoming ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (immediately due and payable. ) Tj ET Q q 0 0 0 rg BT 172.28 640.25 Td (The senior secured credit facility agreement has one covenant, measured quarterly) Tj ET Q q 0 0 0 rg BT 500.64 640.25 Td (, that relates to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (total leverage. ) Tj ET Q q 0 0 0 rg BT 108.96 628.25 Td (The consolidated total leverage covenant requires us to maintain a ratio of consolidated total funded debt to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (consolidated EBITDA) Tj ET Q q 0 0 0 rg BT 139.15 616.25 Td ( \(both as defined in the credit agreement\) of 5.5x over the trailing four consecutive quarters through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (September 30, 2017. ) Tj ET Q q 0 0 0 rg BT 135.08 604.25 Td (The consolidated total leverage ratio will reduce to 5.25x on December31, 2017, 5.0x on December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (2018, 4.75x on December 31, 2019 and 4.5x on December 31, 2020.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 574.25 Td (The indentures governing our 4.875% senior notes and 5.375% senior notes contain covenants that limit, among other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (things, our ability and the ability of our restricted subsidiaries to incur certain additional indebtedness and issue preferred stock, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (make certain distributions, investments and other restricted payments, sell certain assets, agree to any restrictions on the ability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 538.25 Td (of restricted subsidiaries to make payments to us, mer) Tj ET Q q 0 0 0 rg BT 265.04 538.25 Td (ge, consolidate or sell all of our assets, create certain liens, and engage in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 526.25 Td (transactions with af) Tj ET Q q 0 0 0 rg BT 128.13 526.25 Td (filiates on terms that are not on an arms-length basis. Certain covenants, including those pertaining to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (incurrence of indebtedness, restricted payments, asset sales, mer) Tj ET Q q 0 0 0 rg BT 306.95 514.25 Td (gers, and transactions with af) Tj ET Q q 0 0 0 rg BT 423.68 514.25 Td (filiates will be suspended during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (any period in which the notes are rated investment grade by both rating agencies and no default or event of default under the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (indenture has occurred and is continuing. ) Tj ET Q q 0 0 0 rg BT 217.27 490.25 Td (The 4.875% senior notes and the 5.375% senior notes contain two incurrence-based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (financial covenants, as defined, requiring a minimum fixed char) Tj ET Q q 0 0 0 rg BT 305.84 478.25 Td (ge coverage ratio of 2.0x and a maximum secured indebtedness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 466.25 Td (leverage ratio of 3.5x.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 448.25 Td (Some of our other subsidiary indebtedness includes restrictions on entering into various transactions, such as acquisitions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 436.25 Td (and disposals, and prohibits payment of ordinary dividends.) Tj ET Q q 0 0 0 rg BT 291.45 436.25 Td (They also have financial covenants including minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 424.25 Td (consolidated EBITDA) Tj ET Q q 0 0 0 rg BT 139.15 424.25 Td ( to consolidated net interest payable, minimum consolidated cash flow to consolidated debt service and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 412.25 Td (maximum consolidated debt to consolidated EBITDA, all as defined in the applicable debt agreements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 394.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.44 394.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.71 394.25 Td (, we believe we were in compliance with all of our debt covenants. ) Tj ET Q q 0 0 0 rg BT 448.15 394.25 Td (W) Tj ET Q q 0 0 0 rg BT 456.79 394.25 Td (e expect to remain in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 382.25 Td (compliance with all of our debt covenants throughout ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.61 382.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.61 382.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (Uses of Cash) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 346.25 Td (Acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 328.25 Td (When we make acquisitions, the acquired entity may have cash at the time of acquisition. ) Tj ET Q q 0 0 0 rg BT 432.11 328.25 Td (All amounts related to the use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 316.25 Td (of cash for acquisitions discussed in this section are presented net of any cash acquired. During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.66 316.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.88 316.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 304.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 304.25 Td (, we used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.25 304.25 Td ($18.8 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.15 304.25 Td ( of cash primarily for the acquisitions of ticketing businesses located in the United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (States, the Czech Republic and Poland, a concert promotion business located in Italy and a controlling interest in an artist ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 280.25 Td (management business located in the United States. ) Tj ET Q q 0 0 0 rg BT 254.40 280.25 Td (As of the date of acquisition, the acquired businesses had a total of $8.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 268.25 Td (million of cash on their balance sheets, primarily related to deferred revenue for future events.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 250.25 Td (During the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.05 250.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.26 250.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.09 250.25 Td (September30, 2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.35 250.25 Td (, we used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.34 250.25 Td ($1) Tj ET Q q 0 0 0 rg BT 325.97 250.25 Td (13.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.86 250.25 Td ( of cash primarily for the acquisitions of a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 238.25 Td (concert promoter located in Germany) Tj ET Q q 0 0 0 rg BT 199.29 238.25 Td (, controlling interests in festival and concert promoters located in the United Kingdom and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 226.25 Td (the United States and an artist management business with locations in the United States and Canada. ) Tj ET Q q 0 0 0 rg BT 453.53 226.25 Td (As of the date of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 214.25 Td (acquisition, the acquired businesses had a total of $21.1 million of cash on their balance sheets, primarily related to deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 202.25 Td (revenue for future events.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 184.25 Td (Capital Expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 166.25 Td (V) Tj ET Q q 0 0 0 rg BT 80.11 166.25 Td (enue and ticketing operations are capital intensive businesses, requiring continual investment in our existing venues and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 154.25 Td (ticketing systems in order to address fan, client and artist expectations, technological industry advances and various federal, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 142.25 Td (state and/or local regulations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 124.25 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 124.25 Td (e categorize capital outlays between maintenance capital expenditures and revenue generating capital expenditures. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 112.25 Td (Maintenance capital expenditures are associated with the renewal and improvement of existing venues and technology systems, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 100.25 Td (web development and administrative of) Tj ET Q q 0 0 0 rg BT 208.11 100.25 Td (fices. Revenue generating capital expenditures generally relate to the construction of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 88.25 Td (new venues, major renovations to existing buildings or buildings that are being added to our venue network, the development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 76.25 Td (of new online or ticketing tools and other technology enhancements. Revenue generating capital expenditures can also include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 64.25 Td (smaller projects whose purpose is to increase revenue and/or improve operating income. Capital expenditures typically increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 52.25 Td (during periods when venues are not in operation since that is the time that such improvements can be completed.) Tj ET Q endstream endobj 65 0 obj <>] /Rotate 0 /Contents 66 0 R>> endobj 66 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 742.10 Td (Our capital expenditures, including accruals for amounts incurred but not yet paid for but net of expenditures funded by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 730.10 Td (outside parties such as landlords or replacements funded by insurance proceeds, consisted of the following: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 61.00 673.60 360.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 673.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 673.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 673.60 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 61.00 645.60 360.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 645.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 483.00 645.60 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 487.00 645.60 63.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 698.6 m 487 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 698.6 m 550 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 698.6 m 483 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 686.6 m 483 686.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 698.6 m 550 698.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 686.6 m 550 686.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 686.6 m 483 686.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 645.6 m 483 645.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 645.6 m 550 645.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 645.6 m 483 645.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 632.6 m 483 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 630.6 m 483 630.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 645.6 m 550 645.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 632.6 m 550 632.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 487 630.6 m 550 630.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.75 710.83 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 455.60 702.83 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 443.50 690.68 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 510.00 690.68 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 462.00 677.85 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 664.17 Td (Maintenance capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.50 664.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 664.17 Td (82,594) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 664.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 664.17 Td (58,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 650.17 Td (Revenue generating capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 650.17 Td (89,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.65 650.17 Td (62,229) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 636.17 Td (Total capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.50 636.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 636.17 Td (171,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 636.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.65 636.17 Td (120,636) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 614.10 Td (Maintenance capital expenditures during the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.82 614.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.04 614.10 Td ( months of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.31 614.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.31 614.10 Td ( increased from the same period of the prior year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 602.10 Td (primarily associated with the relocation of certain of) Tj ET Q q 0 0 0 rg BT 259.46 602.10 Td (fice facilities and venue-related projects. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 584.10 Td (Revenue generating capital expenditures during the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.87 584.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.08 584.10 Td ( months of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.36 584.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.36 584.10 Td ( increased from the same period of the prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 572.10 Td (year primarily due to food and beverage and wi-fi enhancements at our amphitheaters, festival site improvements and higher ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 560.10 Td (investment in technology) Tj ET Q q 0 0 0 rg BT 150.44 560.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 542.10 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 542.10 Td (e currently expect capital expenditures to be approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.98 542.10 Td ($220 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.38 542.10 Td ( for the full year of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.68 542.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.68 542.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 524.10 Td (Cash Flows) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 466.60 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 466.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 466.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 466.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 436.60 378.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.50 436.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.50 436.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 436.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 492.6 m 496.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 492.6 m 561.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 492.6 m 492.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 479.6 m 492.5 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 492.6 m 561.5 492.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 479.6 m 561.5 479.6 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 459.75 504.83 Td (Nine Months Ended) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.60 496.83 Td ( September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.50 483.83 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.50 483.83 Td (2016) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 471.00 470.85 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 457.17 Td (Cash provided by \(used in\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 442.17 Td (Operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 441.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 441.27 Td (417,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 441.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 441.27 Td (119,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 427.17 Td (Investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 426.32 Td (\(235,499) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 426.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 426.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 426.32 Td (\(260,174) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 426.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.00 412.17 Td (Financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 411.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 411.32 Td (\(25,663) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 411.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 411.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 411.32 Td (\(109,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 411.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 389.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 105.80 389.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 371.10 Td (Cash provided by operating activities increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.16 371.10 Td ($297.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.05 371.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.43 371.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.65 371.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.47 371.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.74 371.10 Td ( as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 359.10 Td (compared to the same period of the prior year) Tj ET Q q 0 0 0 rg BT 232.15 359.10 Td (. During the first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.31 359.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.53 359.10 Td ( months of 2017, we delivered higher net income and our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 347.10 Td (accounts payable and accrued liabilities increased based on timing of payments.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 329.10 Td (Investing ) Tj ET Q q 0 0 0 rg BT 102.47 329.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 311.10 Td (Cash used in investing activities decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.29 311.10 Td ($24.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.18 311.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.55 311.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.77 311.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.60 311.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.86 311.10 Td ( as compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 299.10 Td (the same period of the prior year primarily due to lower net payments for acquisitions partially of) Tj ET Q q 0 0 0 rg BT 439.15 299.10 Td (fset by higher purchases of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 287.10 Td (property) Tj ET Q q 0 0 0 rg BT 83.23 287.10 Td (, plant and equipment. See Uses of Cash above for further discussion.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 269.10 Td (Financing ) Tj ET Q q 0 0 0 rg BT 107.48 269.10 Td (Activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 251.10 Td (Cash used in financing activities decreased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.38 251.10 Td ($84.0 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.28 251.10 Td ( for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 251.10 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.87 251.10 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.70 251.10 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.96 251.10 Td ( as compared to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 239.10 Td (the same period of the prior year primarily as a result of higher proceeds from the exercise of stock options and fewer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 227.10 Td (purchases of noncontrolling interests.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 209.10 Td (Seasonality) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 191.10 Td (Our Concerts and Sponsorship & ) Tj ET Q q 0 0 0 rg BT 208.72 191.10 Td (Advertising segments typically experience higher operating income in the second and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 179.10 Td (third quarters as our outdoor venues and festivals are primarily used in or occur from May through October) Tj ET Q q 0 0 0 rg BT 478.49 179.10 Td (. In addition, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.10 Td (timing of when tickets are sold and the tours of top-grossing acts can impact comparability of quarterly results year over year) Tj ET Q q 0 0 0 rg BT 550.56 167.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.10 Td (although annual results may not be impacted. Our ) Tj ET Q q 0 0 0 rg BT 251.71 155.10 Td (T) Tj ET Q q 0 0 0 rg BT 257.47 155.10 Td (icketing segment revenue is impacted by fluctuations in the availability of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.10 Td (events for sale to the public, which vary depending upon scheduling by our clients.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 125.10 Td (Cash flows from our Concerts segment typically have a slightly dif) Tj ET Q q 0 0 0 rg BT 342.10 125.10 Td (ferent seasonality as payments are often made for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 113.10 Td (artist performance fees and production costs for tours in advance of the date the related event tickets go on sale. ) Tj ET Q q 0 0 0 rg BT 498.82 113.10 Td (These artist ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 101.10 Td (fees and production costs are expensed when the event occurs. Once tickets for an event go on sale, we generally begin to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 89.10 Td (receive payments from ticket sales at our owned or operated venues and festivals in advance of when the event occurs. ) Tj ET Q q 0 0 0 rg BT 526.58 89.10 Td (W) Tj ET Q q 0 0 0 rg BT 535.22 89.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 77.10 Td (record these ticket sales as revenue when the event occurs.) Tj ET Q endstream endobj 67 0 obj <>] /Rotate 0 /Contents 68 0 R>> endobj 68 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 724.25 Td (e are exposed to market risks arising from changes in market rates and prices, including movements in foreign currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (exchange rates and interest rates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 694.25 Td (Foreign Currency Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 676.25 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 676.25 Td (e have operations in countries throughout the world. ) Tj ET Q q 0 0 0 rg BT 293.79 676.25 Td (The financial results of our foreign operations are measured in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (their local currencies. Our foreign subsidiaries also carry certain net assets or liabilities that are denominated in a currency ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (other than that subsidiary) Tj ET Q q 0 0 0 rg BT 154.15 652.25 Td (s functional currency) Tj ET Q q 0 0 0 rg BT 237.91 652.25 Td (. ) Tj ET Q q 0 0 0 rg BT 242.35 652.25 Td (As a result, our financial results could be af) Tj ET Q q 0 0 0 rg BT 416.28 652.25 Td (fected by factors such as changes in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (foreign currency exchange rates or weak economic conditions in the foreign markets in which we have operations. Currently) Tj ET Q q 0 0 0 rg BT 548.06 640.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (we do not operate in any hyper) Tj ET Q q 0 0 0 rg BT 173.65 628.25 Td (-inflationary countries. Our foreign operations reported operating income of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.21 628.25 Td ($134.7 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.10 628.25 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.72 616.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.93 616.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.76 616.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.02 616.25 Td (. ) Tj ET Q q 0 0 0 rg BT 227.84 616.25 Td (W) Tj ET Q q 0 0 0 rg BT 236.48 616.25 Td (e estimate that a 10% change in the value of the United States dollar relative to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (foreign currencies would change our operating income for the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.18 604.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.40 604.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.22 604.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.49 604.25 Td ( by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.49 604.25 Td ($13.5 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.38 604.25 Td (. ) Tj ET Q q 0 0 0 rg BT 531.83 604.25 Td (As of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.26 592.25 Td (, our primary foreign exchange exposure included the Euro, British Pound, ) Tj ET Q q 0 0 0 rg BT 431.30 592.25 Td (Australian Dollar and Canadian ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (Dollar) Tj ET Q q 0 0 0 rg BT 75.00 580.25 Td (. ) Tj ET Q q 0 0 0 rg BT 79.81 580.25 Td (This analysis does not consider the implication such currency fluctuations could have on the overall economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (conditions of the United States or other foreign countries in which we operate or on the results of operations of our foreign ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (entities. In addition, the reported carrying value of our assets and liabilities, including the total cash and cash equivalents held ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (by our foreign operations, will also be af) Tj ET Q q 0 0 0 rg BT 212.55 544.25 Td (fected by changes in foreign currency exchange rates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 526.25 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 526.25 Td (e primarily use forward currency contracts, in addition to options, to reduce our exposure to foreign currency risk ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (associated with short-term artist fee commitments. ) Tj ET Q q 0 0 0 rg BT 254.49 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 263.13 514.25 Td (e also may enter into forward currency contracts to minimize the risks ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (and/or costs associated with changes in foreign currency rates on forecasted operating income. ) Tj ET Q q 0 0 0 rg BT 429.86 502.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.36 502.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.63 502.25 Td (, we had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (forward currency contracts and options outstanding with a notional amount of $124.3 million.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 62.00 472.25 Td (Interest Rate Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 454.25 Td (Our market risk is also af) Tj ET Q q 0 0 0 rg BT 175.18 454.25 Td (fected by changes in interest rates. ) Tj ET Q q 0 0 0 rg BT 315.22 454.25 Td (W) Tj ET Q q 0 0 0 rg BT 323.86 454.25 Td (e had $2.4 billion of total debt, excluding debt discounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 442.25 Td (and issuance costs, outstanding as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.14 442.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.40 442.25 Td (, of which $1.2 billion was fixed-rate debt and $1.2 billion was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (floating-rate debt.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 412.25 Td (Based on the amount of our floating-rate debt as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.61 412.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.87 412.25 Td (, each 25-basis point increase or decrease in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 400.25 Td (interest rates would increase or decrease our annual interest expense and cash outlay by approximately $3.0 million when the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 388.25 Td (floor rate is not applicable. ) Tj ET Q q 0 0 0 rg BT 159.78 388.25 Td (This potential increase or decrease is based on the simplified assumption that the level of floating-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 376.25 Td (rate debt remains constant with an immediate across-the-board increase or decrease as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.90 376.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.16 376.25 Td ( with no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 364.25 Td (subsequent change in rates for the remainder of the period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 346.25 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 346.25 Td (e have one interest rate cap agreement with an aggregate notional amount of $5.4 million at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.11 346.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.38 346.25 Td (. ) Tj ET Q q 0 0 0 rg BT 536.20 346.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 334.25 Td (interest rate cap agreement ensures that a portion of our floating-rate debt does not exceed 4.25% and expires in June 2018. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 322.25 Td (This agreement has not been designated as a hedging instrument. ) Tj ET Q q 0 0 0 rg BT 312.25 322.25 Td (Therefore, any change in fair value is recorded in earnings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 310.25 Td (during the period of change.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 292.25 Td (Ratio of Earnings to Fixed Charges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 274.25 Td (The ratio of earnings to fixed char) Tj ET Q q 0 0 0 rg BT 210.43 274.25 Td (ges is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 235.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 131.50 235.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.50 235.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.50 235.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.50 235.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 235.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.50 235.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 235.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 393.50 235.75 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.50 235.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.50 235.75 82.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 248.75 m 131.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 131.5 248.75 m 135.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135.5 248.75 m 217.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 248.75 m 303.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 248.75 m 307.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 248.75 m 389.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 248.75 m 393.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 248.75 m 475.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475.5 248.75 m 479.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 248.75 m 561.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 248.75 m 131.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 235.75 m 131.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135.5 248.75 m 217.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135.5 235.75 m 217.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 248.75 m 303.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221.5 235.75 m 303.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 248.75 m 389.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307.5 235.75 m 389.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 248.75 m 475.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 393.5 235.75 m 475.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 248.75 m 561.5 248.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479.5 235.75 m 561.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 235.75 m 131.5 235.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135.5 235.75 m 217.5 235.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 74.70 252.98 Td (Nine months ended September 30,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 346.70 252.98 Td (Year Ended December31,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 82.00 239.98 Td (2017) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 168.00 239.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 254.00 239.98 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 340.00 239.98 Td (2015) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 426.00 239.98 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 512.00 239.98 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.25 225.42 Td (2.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.25 225.42 Td (2.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.25 225.42 Td (1.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.25 225.42 Td (1.03) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 225.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.50 225.42 Td (*) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 209.25 Td (* ) Tj ET Q q 0 0 0 rg BT 68.00 209.25 Td (For the years ended December 31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.67 209.25 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.67 209.25 Td ( and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.11 209.25 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.11 209.25 Td (, fixed char) Tj ET Q q 0 0 0 rg BT 312.18 209.25 Td (ges exceeded earnings before income taxes and fixed char) Tj ET Q q 0 0 0 rg BT 544.11 209.25 Td (ges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.00 197.25 Td (by $104.0 million and $6.0 million, respectively) Tj ET Q q 0 0 0 rg BT 260.38 197.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 179.25 Td (The ratio of earnings to fixed char) Tj ET Q q 0 0 0 rg BT 210.43 179.25 Td (ges was computed on a total company basis. Earnings represent income before income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 167.25 Td (taxes less equity in undistributed net income \(loss\) of nonconsolidated af) Tj ET Q q 0 0 0 rg BT 341.43 167.25 Td (filiates plus fixed char) Tj ET Q q 0 0 0 rg BT 430.38 167.25 Td (ges. Fixed char) Tj ET Q q 0 0 0 rg BT 491.02 167.25 Td (ges represent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 155.25 Td (interest, amortization of debt discount, debt issuance costs and premium and the estimated interest portion of rental char) Tj ET Q q 0 0 0 rg BT 529.96 155.25 Td (ges. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 143.25 Td (Rental char) Tj ET Q q 0 0 0 rg BT 95.63 143.25 Td (ges exclude variable rent expense for events in third-party venues.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 125.25 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 111.76 125.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 107.25 Td (Information regarding recently issued and adopted accounting pronouncements can be found in Item 1.Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 95.25 Td (StatementsNote 1Basis of Presentation and Other Information. ) Tj ET Q endstream endobj 69 0 obj <>] /Rotate 0 /Contents 70 0 R>> endobj 70 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 84.71 742.25 Td (Accounting Policies and Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (The preparation of our financial statements in conformity with GAAP) Tj ET Q q 0 0 0 rg BT 353.28 724.25 Td ( requires management to make estimates, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (judgments and assumptions that af) Tj ET Q q 0 0 0 rg BT 188.13 712.25 Td (fect the reported amounts of assets and liabilities, disclosure of contingent assets and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 688.25 Td (On an ongoing basis, we evaluate our estimates that are based on historical experience and on various other assumptions that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (are believed to be reasonable under the circumstances. ) Tj ET Q q 0 0 0 rg BT 270.00 676.25 Td (The result of these evaluations forms the basis for making judgments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 664.25 Td (about the carrying values of assets and liabilities and the reported amount of revenue and expenses that are not readily apparent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (from other sources. Because future events and their ef) Tj ET Q q 0 0 0 rg BT 265.57 652.25 Td (fects cannot be determined with certainty) Tj ET Q q 0 0 0 rg BT 430.13 652.25 Td (, actual results could dif) Tj ET Q q 0 0 0 rg BT 525.75 652.25 Td (fer from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (our assumptions and estimates, and such dif) Tj ET Q q 0 0 0 rg BT 225.63 640.25 Td (ference could be material.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 622.25 Td (Management believes that the accounting estimates involved in business combinations, impairment of long-lived assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 610.25 Td (and goodwill, revenue recognition, and income taxes are the most critical to aid in fully understanding and evaluating our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 598.25 Td (reported financial results, and they require management) Tj ET Q q 0 0 0 rg BT 275.74 598.25 Td (s most dif) Tj ET Q q 0 0 0 rg BT 315.01 598.25 Td (ficult, subjective or complex judgments, resulting from the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (need to make estimates about the ef) Tj ET Q q 0 0 0 rg BT 192.54 586.25 Td (fect of matters that are inherently uncertain. ) Tj ET Q q 0 0 0 rg BT 370.06 586.25 Td (These critical accounting estimates, the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 574.25 Td (judgments and assumptions and the ef) Tj ET Q q 0 0 0 rg BT 202.29 574.25 Td (fect if actual results dif) Tj ET Q q 0 0 0 rg BT 294.30 574.25 Td (fer from these assumptions are described in Part II Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 562.25 Td (Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.76 562.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.76 562.25 Td (Item7. Management) Tj ET Q q 0 0 0 rg BT 193.57 562.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 262.74 562.25 Td (Analysis of Financial Condition and Results of Operations of our 2016 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Annual Report on Form 10-K filed with the SEC on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.54 550.25 Td (February23, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.14 550.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 532.25 Td (There have been no changes to our critical accounting policies during the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.44 532.25 Td (nine) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.66 532.25 Td ( months ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.49 532.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.75 532.25 Td (.) Tj ET Q endstream endobj 71 0 obj <>] /Rotate 0 /Contents 72 0 R>> endobj 72 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 742.25 Td (Item 3. Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 247.59 742.25 Td (es ) Tj ET Q q 0 0 0 rg BT 257.87 742.25 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 724.25 Td (Required information is within Item2. Management) Tj ET Q q 0 0 0 rg BT 285.90 724.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 355.07 724.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 712.25 Td (OperationsMarket Risk.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 694.25 Td (Item4. Contr) Tj ET Q q 0 0 0 rg BT 107.86 694.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 151.02 694.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 180.28 694.25 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 676.25 Td (Evaluation of Disclosur) Tj ET Q q 0 0 0 rg BT 149.83 676.25 Td (e Contr) Tj ET Q q 0 0 0 rg BT 182.14 676.25 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 225.30 676.25 Td (ocedur) Tj ET Q q 0 0 0 rg BT 254.56 676.25 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 658.25 Td (W) Tj ET Q q 0 0 0 rg BT 82.64 658.25 Td (e have established disclosure controls and procedures to ensure that material information relating to our company) Tj ET Q q 0 0 0 rg BT 535.46 658.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 646.25 Td (including our consolidated subsidiaries, is made known to the of) Tj ET Q q 0 0 0 rg BT 307.55 646.25 Td (ficers who certify our financial reports and to other members of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 634.25 Td (senior management and our board of directors.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 616.25 Td (Based on their evaluation as of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.07 616.25 Td (September30, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.34 616.25 Td (, our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 378.74 616.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 491.29 616.25 Td (ficer have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (concluded that our disclosure controls and procedures \(as defined in Rules13a-15\(e\) and 15d-15\(e\) under the Securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 592.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 91.37 592.25 Td (Act of 1934, as amended\)are ef) Tj ET Q q 0 0 0 rg BT 219.19 592.25 Td (fective to ensure that \(1\)the information required to be disclosed by us in the reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 580.25 Td (that we file or submit under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 261.33 580.25 Td (Act of 1934, as amended, is recorded, processed, summarized and reported ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 568.25 Td (within the time periods specified in SEC rules and forms, and \(2\)the information we are required to disclose in such reports is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 556.25 Td (accumulated and communicated to management, including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 381.37 556.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 493.93 556.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 511.84 556.25 Td (, as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 544.25 Td (appropriate to allow timely decisions regarding required disclosure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 526.25 Td (Our management, including our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 281.81 526.25 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 394.37 526.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 412.28 526.25 Td (, does not expect that our disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (controls and procedures or internal controls will prevent all possible errors and fraud. Our disclosure controls and procedures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 502.25 Td (are, however) Tj ET Q q 0 0 0 rg BT 101.24 502.25 Td (, designed to provide reasonable assurance of achieving their objectives, and our Chief Executive Of) Tj ET Q q 0 0 0 rg BT 503.13 502.25 Td (ficer and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 490.25 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 124.80 490.25 Td (ficer have concluded that our disclosure controls and procedures are ef) Tj ET Q q 0 0 0 rg BT 407.28 490.25 Td (fective at that reasonable assurance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (level.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 460.25 Td (Changes in Internal Contr) Tj ET Q q 0 0 0 rg BT 162.89 460.25 Td (ol Over) Tj ET Q q 0 0 0 rg BT 194.64 460.25 Td ( Financial Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 442.25 Td (There has been no change in our internal control over financial reporting during the period covered by this report that has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 430.25 Td (materially af) Tj ET Q q 0 0 0 rg BT 100.63 430.25 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 282.04 430.25 Td (fect, our internal control over financial reporting.) 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Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 700.25 Td (Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.94 700.25 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.94 700.25 Td (Commitments and Contingent Liabilities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 682.25 Td (Item 1A. Risk Factors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.00 664.25 Td (While we attempt to identify) Tj ET Q q 0 0 0 rg BT 188.32 664.25 Td (, manage and mitigate risks and uncertainties associated with our business to the extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 652.25 Td (practical under the circumstances, some level of risk and uncertainty will always be present. Part I Financial Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.89 652.25 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 640.25 Td (Item1A. Risk Factors of our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.49 640.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.49 640.25 Td ( ) Tj ET Q q 0 0 0 rg BT 189.43 640.25 Td (Annual Report on Form 10-K filed with the SEC on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.97 640.25 Td (February23, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.57 640.25 Td (, describes some of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 628.25 Td (the risks and uncertainties associated with our business which have the potential to materially af) Tj ET Q q 0 0 0 rg BT 434.16 628.25 Td (fect our business, financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 616.25 Td (condition or results of operations. ) Tj ET Q q 0 0 0 rg BT 187.02 616.25 Td (W) Tj ET Q q 0 0 0 rg BT 195.65 616.25 Td (e do not believe that there have been any material changes to the risk factors previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 50.00 604.25 Td (disclosed in our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.83 604.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.83 604.25 Td ( ) Tj ET Q q 0 0 0 rg BT 137.77 604.25 Td (Annual Report on Form 10-K.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 586.25 Td (Item 2. Unr) Tj ET Q q 0 0 0 rg BT 99.53 586.25 Td (egister) Tj ET Q q 0 0 0 rg BT 127.67 586.25 Td (ed Sales of Equity Securities and Use of Pr) Tj ET Q q 0 0 0 rg BT 308.59 586.25 Td (oceeds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 568.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 550.25 Td (Item 3. Defaults Upon Senior) Tj ET Q q 0 0 0 rg BT 173.98 550.25 Td ( Securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 532.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 514.25 Td (Item 5. Other) Tj ET Q q 0 0 0 rg BT 107.86 514.25 Td ( Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 496.25 Td (None.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 478.25 Td (Item 6. Exhibits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 72.50 460.25 Td (The information in the Exhibit Index of this Quarterly Report on Form 10-Q is incorporated into this Item 6 by reference.) 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Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 50.00 698.45 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335.5 653.95 m 560.5 653.95 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 678.52 Td (LIVE NATION ENTERTAINMENT, INC.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.00 659.52 Td (By:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.60 659.52 Td (/s/ Brian Capo) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.60 645.18 Td (Brian Capo) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 359.45 632.18 Td (Chief Accounting Officer \(Duly Authorized Officer\)) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 77 0 obj <>] /Rotate 0 /Contents 78 0 R>> endobj 78 0 obj <> stream BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 50 771.2669921875 m 120.9521484375 771.2669921875 l s q 0 0 1 rg BT 50.00 772.60 Td (T) Tj ET Q q 0 0 1 rg BT 55.41 772.60 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.30 742.25 Td (EXHIBIT) Tj ET Q q 0 0 0 rg BT 309.91 742.25 Td (INDEX) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 697.75 45.00 -15.00 re f /GS0 gs 0.8 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637.75 11.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 105.50 637.75 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.50 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.50 637.75 26.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.50 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.50 637.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.50 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.50 637.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.50 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 637.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 527.50 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 637.75 30.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 607.75 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 94.50 607.75 11.00 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