Annual report pursuant to Section 13 and 15(d)

LONG-LIVED ASSETS (Tables)

v3.3.1.900
LONG-LIVED ASSETS (Tables)
 12 Months Ended
Dec. 31, 2015
LONG-LIVED ASSETS [Abstract]  
Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets
The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the years ended December 31, 2015 and 2014:
 
Revenue-
generating
contracts
 
Client /
vendor
relationships
 
Trademarks
and
naming
rights
 
Non-compete
agreements
 
Venue
management
and
leaseholds
 
Technology
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
$
585,094

 
$
277,937

 
$
28,524

 
$
137,199

 
$
85,642

 
$
100,664

 
$
2,375

 
$
1,217,435

Accumulated amortization
(231,053
)
 
(81,809
)
 
(9,092
)
 
(101,128
)
 
(43,687
)
 
(73,110
)
 
(992
)
 
(540,871
)
Net
354,041

 
196,128

 
19,432

 
36,071

 
41,955

 
27,554

 
1,383

 
676,564

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
75,304

 
92,974

 
—

 
—

 
—

 
8,415

 
1,100

 
177,793

Acquisitions— prior year
(1,851
)
 
2,857

 
—

 
1,500

 
—

 
407

 
—

 
2,913

Dispositions
(1,600
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(1,600
)
Foreign exchange
(19,056
)
 
(8,508
)
 
(1,176
)
 
—

 
(2,324
)
 
(1,608
)
 
(5
)
 
(32,677
)
Other (1)
(2,764
)
 
(9,268
)
 
(3,082
)
 
(15,147
)
 
4

 
(92,548
)
 
111

 
(122,694
)
Net change
50,033

 
78,055

 
(4,258
)
 
(13,647
)
 
(2,320
)
 
(85,334
)
 
1,206

 
23,735

Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(52,664
)
 
(52,389
)
 
(3,458
)
 
(12,531
)
 
(7,960
)
 
(24,946
)
 
(713
)
 
(154,661
)
Dispositions
605

 
—

 
—

 
—

 
—

 
—

 
—

 
605

Foreign exchange
8,277

 
1,735

 
767

 
—

 
1,161

 
1,262

 
3

 
13,205

Other (1)
2,764

 
9,268

 
3,082

 
15,147

 
(4
)
 
92,548

 
460

 
123,265

Net change
(41,018
)
 
(41,386
)
 
391

 
2,616

 
(6,803
)
 
68,864

 
(250
)
 
(17,586
)
Balance as of December 31, 2014:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
635,127

 
355,992

 
24,266

 
123,552

 
83,322

 
15,330

 
3,581

 
1,241,170

Accumulated amortization
(272,071
)
 
(123,195
)
 
(8,701
)
 
(98,512
)
 
(50,490
)
 
(4,246
)
 
(1,242
)
 
(558,457
)
Net
363,056

 
232,797

 
15,565

 
25,040

 
32,832

 
11,084

 
2,339

 
682,713

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
119,482

 
39,113

 
62,953

 
5,110

 
10,574

 
16,230

 
17

 
253,479

Acquisitions— prior year
(8,366
)
 
(4,694
)
 
—

 
49,851

 
—

 
11

 
—

 
36,802

Foreign exchange
(15,332
)
 
(8,474
)
 
(664
)
 
(2,159
)
 
(3,784
)
 
(1,306
)
 
—

 
(31,719
)
Other (1)
(30,116
)
 
(2,655
)
 
1

 
—

 
(24,061
)
 
—

 
—

 
(56,831
)
Net change
65,668

 
23,290

 
62,290

 
52,802

 
(17,271
)
 
14,935

 
17

 
201,731

Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(78,281
)
 
(51,116
)
 
(6,218
)
 
(22,869
)
 
(10,684
)
 
(4,402
)
 
(389
)
 
(173,959
)
Foreign exchange
6,494

 
2,036

 
340

 
62

 
1,468

 
46

 
—

 
10,446

Other (1)
30,115

 
2,655

 
1

 
—

 
24,061

 
—

 
—

 
56,832

Net change
(41,672
)
 
(46,425
)
 
(5,877
)
 
(22,807
)
 
14,845

 
(4,356
)
 
(389
)
 
(106,681
)
Balance as of December 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
700,795

 
379,282

 
86,556

 
176,354

 
66,051

 
30,265

 
3,598

 
1,442,901

Accumulated amortization
(313,743
)
 
(169,620
)
 
(14,578
)
 
(121,319
)
 
(35,645
)
 
(8,602
)
 
(1,631
)
 
(665,138
)
Net
$
387,052

 
$
209,662

 
$
71,978

 
$
55,035

 
$
30,406

 
$
21,663

 
$
1,967

 
$
777,763

(1) 
Other includes netdowns of fully amortized or impaired assets.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2015 and 2014 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
  
Weighted-
Average
Life (years)
 
2015
 
2014
 
 
 
 
Revenue-generating contracts
8

 
9

Client/vendor relationships
7

 
7

Trademarks and naming rights
10

 
—

Non-compete agreements
6

 
5

Venue management and leaseholds
7

 
—

Technology
6

 
5

Other
—

 
10

All categories
8

 
7

Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets
The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at December 31, 2015:
 
 
(in thousands)
2016
$
157,750

2017
$
145,440

2018
$
120,840

2019
$
103,549

2020
$
89,714

Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of the Company’s reportable segments for the years ended December 31, 2015 and 2014:
 
Concerts
 
Ticketing
 
Artist
Nation
 
Sponsorship
&  Advertising
 
Total
 
(in thousands)
Balance as of December 31, 2013:
 
 
 
 
 
 
 
 
 
Goodwill
$
505,472

 
$
642,249

 
$
278,923

 
$
310,241

 
$
1,736,885

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(269,902
)
                 Net
235,570

 
642,249

 
278,923

 
310,241

 
1,466,983

 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
92,393

 
27,943

 
68,107

 
15,774

 
204,217

Acquisitions—prior year
1,997

 
—

 
(2,304
)
 
(625
)
 
(932
)
Dispositions
—

 
(4,434
)
 
—

 
—

 
(4,434
)
Impairment
(117,013
)
 
—

 
(17,948
)
 
—

 
(134,961
)
Foreign exchange
(21,971
)
 
(8,127
)
 
787

 
(22,525
)
 
(51,836
)
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2014:
 
 
 
 
 
 
 
 
 
Goodwill
577,891

 
657,631

 
345,513

 
302,865

 
1,883,900

Accumulated impairment losses
(386,915
)
 
—

 
(17,948
)
 
—

 
(404,863
)
                 Net
190,976

 
657,631

 
327,565

 
302,865

 
1,479,037

 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
57,792

 
77,951

 
15,051

 
43,248

 
194,042

Acquisitions—prior year
(28,472
)
 
10,341

 
(17,968
)
 
(3,274
)
 
(39,373
)
Foreign exchange
(4,440
)
 
(12,098
)
 
(2,095
)
 
(10,758
)
 
(29,391
)
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2015:
 
 
 
 
 
 
 
 
Goodwill
602,771

 
733,825

 
340,501

 
332,081

 
2,009,178

Accumulated impairment losses
(386,915
)
 
—

 
(17,948
)
 
—

 
(404,863
)
                 Net
$
215,856

 
$
733,825

 
$
322,553

 
$
332,081

 
$
1,604,315


Investments in Nonconsolidated Affiliates
Summarized balance sheet and income statement information for these entities is as follows (at 100%):
 
 
December 31,
 
 
2015
 
2014
 
 
(in thousands)
Current assets
 
$
74,686

 
$
90,218

Noncurrent assets
 
$
7,979

 
$
19,255

Current liabilities
 
$
48,581

 
$
63,007

Noncurrent liabilities
 
$
—

 
$
—

Noncontrolling interests
 
$
403

 
$
391

 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
 
(in thousands)
Revenue
 
$
92,801

 
$
68,828

 
$
71,574

Operating income
 
$
21,022

 
$
22,639

 
$
26,936

Net income
 
$
13,986

 
$
16,996

 
$
21,167

Net income attributable to the common stockholders of the equity investees
 
$
13,905

 
$
16,855

 
$
21,105

Asset and Liability Values at the Time of Disposal and the Resulting Gain or Loss Recorded
The table below summarizes the asset and liability values at the time of sale for significant disposals and the resulting gain or loss recorded.
Divested Asset
 
Segment
 
Gain on
Disposal of
Operating
Assets
 
Current
Assets
 
Noncurrent
Assets
 
Current
Liabilities
 
Noncurrent
Liabilities
 
 
(in thousands)
2013 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
New York theater
 
Concerts
 
$
(24,845
)
 
$
—

 
$
35,785

 
$
—

 
$
3,636