Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Tables)

 v2.3.0.11
LONG-LIVED ASSETS (Tables)
6 Months Ended
Jun. 30, 2011
Goodwill and Intangible Assets Disclosure [Abstract]  
Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets
The following table presents the gross carrying amount and accumulated amortization of definite-lived intangible assets as of June 30, 2011 and December 31, 2010:
 
   
Balance
as of
December 31,
2010
   
Acquisitions
   
Divestitures
   
Amortization
Expense
   
Foreign
Currency
and
Other
   
Balance
as of
June 30,
2011
 
   
(in thousands)
 
Revenue-generating contracts:
                                   
Gross carrying amount
  $ 482,588     $ 34,919     $ (263 )   $ -     $ 24,898     $ 542,142  
Accumulated amortization
    (112,575 )     -       263       (29,392 )     (1,874 )     (143,578 )
Net
    370,013       34,919       -       (29,392 )     23,024       398,564  
Non-compete agreements:
                                               
Gross carrying amount
    175,740       (5,178 )     (100 )     -       361       170,823  
Accumulated amortization
    (68,833 )     -       61       (13,333 )     961       (81,144 )
Net
    106,907       (5,178 )     (39 )     (13,333 )     1,322       89,679  
Venue management and leaseholds:
                                               
Gross carrying amount
    115,225       3,828       -       -       437       119,490  
Accumulated amortization
    (30,878 )     -       -       (5,550 )     1,044       (35,384 )
Net
    84,347       3,828       -       (5,550 )     1,481       84,106  
Trademarks and naming rights:
                                               
Gross carrying amount
    23,998       91       -       -       489       24,578  
Accumulated amortization
    (9,522 )     -       -       (4,131 )     (263 )     (13,916 )
Net
    14,476       91       -       (4,131 )     226       10,662  
Client/vendor relationships:
                                               
Gross carrying amount
    365,344       (10,174 )     (4,299 )     -       (16,509 )     334,362  
Accumulated amortization
    (30,314 )     -       361       (19,317 )     1,347       (47,923 )
Net
    335,030       (10,174 )     (3,938 )     (19,317 )     (15,162 )     286,439  
Technology:
                                               
Gross carrying amount
    95,102       768       -       -       1,557       97,427  
Accumulated amortization
    (11,797 )     -       -       (9,519 )     (395 )     (21,711 )
Net
    83,305       768       -       (9,519 )     1,162       75,716  
Other:
                                               
Gross carrying amount
    6,429       12       -       -       28       6,469  
Accumulated amortization
    (3,239 )     -       -       (730 )     (11 )     (3,980 )
Net
    3,190       12       -       (730 )     17       2,489  
Total:
                                               
Gross carrying amount
    1,264,426       24,266       (4,662 )     -       11,261       1,295,291  
Accumulated amortization
    (267,158 )     -       685       (81,972 )     809       (347,636 )
Net
  $ 997,268     $ 24,266     $ (3,977 )   $ (81,972 )   $ 12,070     $ 947,655  
 
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2011 additions to definite-lived intangible assets have weighted average lives as follows:
 
 
Weighted
Average
Life (years)
   
Revenue-generating contracts
9
Non-compete agreements
2
Venue management and leaseholds
6
Trademarks and naming rights
5
Technology
10
Other
1
Combined
9
 
Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of the Company's segments for the six months ended June 30, 2011:
 
   
Concerts
   
Ticketing
   
Artist
Nation
   
eCommerce
   
Sponsorship
   
Other
   
Total
 
   
(in thousands)
 
Balance as of December 31, 2010:
                                         
Goodwill
  $ 375,487     $ 557,856     $ 267,992     $ 214,927     $ 80,056     $ 13,037     $ 1,509,355  
Accumulated impairment
                                                       
losses
    (269,902 )     -       -       -       -       (13,037 )     (282,939 )
Net
    105,585       557,856       267,992       214,927       80,056       -       1,226,416  
                                                         
Acquisitions - current year
    -       10,715       -       -       -       -       10,715  
Acquisitions - prior year
    2       3,612       (7,592 )     -       -       -       (3,978 )
Dispositions
    -       -       (147 )     -       -       -       (147 )
Foreign currency
    11,202       4,654       -       -       11,897       -       27,753  
Balance as of June 30, 2011:
                                                       
Goodwill
    386,691       576,837       260,253       214,927       91,953       13,037       1,543,698  
Accumulated impairment
                                                       
losses
    (269,902 )     -       -       -       -       (13,037 )     (282,939 )
Net
  $ 116,789     $ 576,837     $ 260,253     $ 214,927     $ 91,953     $ -     $ 1,260,759  
Long-Lived Asset Disposals
The table below summarizes the asset and liability values at the time of disposal and the resulting loss or gain recorded.
Divested Asset
 
Segment
 
Gain (Loss) on Sale
   
Current Assets
   
Noncurrent Assets
   
Current Liabilities
   
Noncurrent Liabilities
 
       
(in thousands)
 
2011 Divestitures
                                 
Selma amphitheather
 
Concerts
  $ 809     $ -     $ 3,194     $ -     $ -  
Artist management company
 
Artist Nation
  $ (1,241 )   $ (70 )   $ 4,140     $ 128     $ -  
2010 Divestitures
                                           
Paciolan
 
Ticketing
  $ (5,218 )   $ 8,357     $ 33,492     $ 7,595     $ 6,364