Live Nation Entertainment Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

9 Months Ended

Sep. 30, 2020

The significant components of operating lease expense are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in thousands)
Operating lease cost	$	59,923	$	43,412	$	180,478	$	139,251
Variable and short-term lease cost	10,545		48,318		43,275		96,147
Sublease income	(3,682)		(4,040)		(11,944)		(12,669)
Net lease cost	$	66,786	$	87,690	$	211,809	$	222,729

Supplemental cash flow information for our operating leases is as follows:


	Nine Months Ended September 30,
	2020		2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	154,471	$	146,953
Lease assets obtained in exchange for lease obligations, net of terminations	$	149,817	$	130,011

Future maturities of our operating lease liabilities at September 30, 2020 are as follows:


	(in thousands)
October 1 - December 31, 2020	$	41,360
2021	205,277
2022	198,912
2023	199,432
2024	182,291
Thereafter	1,598,904
Total lease payments	2,426,176
Less: Interest	843,335
Present value of lease liabilities	$	1,582,841

The weighted average remaining lease term and weighted average discount rate for our operating leases are as follows:


	September 30,
	2020		2019
Weighted average remaining lease term (in years)	13.9		13.4
Weighted average discount rate	6.19	%	5.78	%