Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)

v3.20.2
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 6 Months Ended
Jun. 30, 2020
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
June 30, December 31,
2020 2019
(in thousands)
    Land, buildings and improvements $ 1,236,564    $ 1,181,876   
    Computer equipment and capitalized software 853,184    800,990   
    Furniture and other equipment 414,911    380,174   
    Construction in progress 138,648    176,275   
2,643,307    2,539,315   
    Less accumulated depreciation 1,521,642    1,421,383   
$ 1,121,665    $ 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 six months ended June 30, 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
 37,927    164,884    12    8,695    4,537    —    216,055   
Acquisitions—prior year
 (228)   —    —    770    —    —    542   
Foreign exchange (16,646)   (11,481)   (5,235)   (2,341)   (860)   4    (36,559)  
Other (2)
(19,851)   (83,256)   —    (2,962)   (15,901)   (7,823)   (129,793)  
Net change 1,202    70,147    (5,223)   4,162    (12,224)   (7,819)   50,245   
Accumulated amortization:
Amortization
(46,777)   (40,140)   (8,295)   (8,815)   (14,295)   (3,700)   (122,022)  
Foreign exchange 3,124    3,056    590    1,128    660    (15)   8,543   
Other (2)
19,851    83,255    —    2,962    15,892    7,970    129,930   
Net change (23,802)   46,171    (7,705)   (4,725)   2,257    4,255    16,451   
Balance as of June 30, 2020:
Gross carrying amount
 701,759    597,637    147,712    153,748    75,114    17,400    1,693,370   
Accumulated amortization
 (425,824)   (157,190)   (64,121)   (47,424)   (51,963)   (10,011)   (756,533)  
Net $ 275,935    $ 440,447    $ 83,591    $ 106,324    $ 23,151    $ 7,389    $ 936,837   
______________
(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 1
Venue management and leaseholds 7
Technology 1
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 June 30, 2020:
(in thousands)
July 1 - December 31, 2020 $ 105,854   
2021 $ 178,684   
2022 $ 147,862   
2023 $ 125,121   
2024 $ 108,185   
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 six months ended June 30, 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 40,488    2,244    —    42,732   
Acquisitions—prior year (6,412)   —    7,165    753   
Foreign exchange (15,363)   (1,062)   (12,917)   (29,342)  
Balance as of June 30, 2020:
Goodwill 1,244,770    767,445    435,789    2,448,004   
Accumulated impairment losses (435,363)   —    —    (435,363)  
                 Net $ 809,407    $ 767,445    $ 435,789    $ 2,012,641   
[1] (1) Other primarily includes intangible assets for non-compete agreements.
[2] (2) Other primarily includes netdowns of fully amortized or impaired assets.