Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS Long-Lived Assets (Tables)

v3.20.1
LONG-LIVED ASSETS Long-Lived Assets (Tables)
 3 Months Ended
Mar. 31, 2020
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
March 31, December 31,
2020 2019
(in thousands)
    Land, buildings and improvements $ 1,204,678    $ 1,181,876   
    Computer equipment and capitalized software 817,022    800,990   
    Furniture and other equipment 415,349    380,174   
    Construction in progress 148,853    176,275   
2,585,902    2,539,315   
    Less accumulated depreciation 1,457,733    1,421,383   
$ 1,128,169    $ 1,117,932   
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 three months ended March 31, 2020:

Revenue-
generating
contracts		 Client /
vendor
relationships		 Trademarks
and
naming
rights		 Venue management & Leaseholds Technology
Other (1)
Total
(in thousands)
Balance as of December 31, 2019:
Gross carrying amount
 $ 700,557    $ 527,490    $ 152,935    $ 149,586    $ 87,338    $ 25,219    $ 1,643,125   
Accumulated amortization
 (402,022)   (203,361)   (56,416)   (42,699)   (54,220)   (14,266)   (772,984)  
Net 298,535    324,129    96,519    106,887    33,118    10,953    870,141   
Gross carrying amount:
Acquisitions—current year
 35,808    94,576    160    8,785    112    94    139,535   
Acquisitions—prior year
 (228)   —    —    (230)   —    —    (458)  
Foreign exchange (19,843)   (23,275)   (5,937)   (3,457)   (1,219)   (314)   (54,045)  
Other (2)
(12,198)   (83,255)   —    (820)   (1,409)   (1,344)   (99,026)  
Net change 3,539    (11,954)   (5,777)   4,278    (2,516)   (1,564)   (13,994)  
Accumulated amortization:
Amortization
(27,428)   (20,097)   (4,169)   (4,283)   (6,462)   (1,797)   (64,236)  
Foreign exchange 4,786    6,562    991    1,361    1,012    260    14,972   
Other (2)
12,198    83,255    1    820    1,399    1,348    99,021   
Net change (10,444)   69,720    (3,177)   (2,102)   (4,051)   (189)   49,757   
Balance as of March 31, 2020:
Gross carrying amount
 704,096    515,536    147,158    153,864    84,822    23,655    1,629,131   
Accumulated amortization
 (412,466)   (133,641)   (59,593)   (44,801)   (58,271)   (14,455)   (723,227)  
Net $ 291,630    $ 381,895    $ 87,565    $ 109,063    $ 26,551    $ 9,200    $ 905,904   
______________
(1) Other primarily includes intangible assets for non-compete agreements.  
(2) Other primarily includes netdowns of fully amortized or impaired assets.
[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2020 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
Weighted-
Average
Life (years)
Revenue-generating contracts 9
Client/vendor relationships 8
Trademarks and naming rights 5
Technology 1
Venue management and leaseholds 7
All categories 8
Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets
The following table presents our estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at March 31, 2020:
(in thousands)
April 1 - December 31, 2020 $ 241,180   
2021 $ 156,213   
2022 $ 126,452   
2023 $ 104,079   
2024 $ 87,411   
Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the three months ended March 31, 2020:
Concerts Ticketing Sponsorship
& Advertising		 Total
(in thousands)
Balance as of December 31, 2019:
Goodwill $ 1,226,057    $ 766,263    $ 441,541    $ 2,433,861   
Accumulated impairment losses (435,363)   —    —    (435,363)  
                 Net 790,694    766,263    441,541    1,998,498   
Acquisitions—current year 37,968    2,141    —    40,109   
Acquisitions—prior year (5,893)   —    7,165    1,272   
Foreign exchange (23,181)   (3,368)   (13,351)   (39,900)  
Balance as of March 31, 2020:
Goodwill 1,234,951    765,036    435,355    2,435,342   
Accumulated impairment losses (435,363)   —    —    (435,363)  
                 Net $ 799,588    $ 765,036    $ 435,355    $ 1,999,979   
[1] (1) Other primarily includes intangible assets for non-compete agreements.
[2] (2) Other primarily includes netdowns of fully amortized or impaired assets.