Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.1
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 3 Months Ended
Mar. 31, 2021
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
March 31, December 31,
2021 2020
(in thousands)
    Land, buildings and improvements $ 1,246,345  $ 1,239,696 
    Computer equipment and capitalized software 904,791  887,637 
    Furniture and other equipment 425,888  424,363 
    Construction in progress 134,829  151,830 
2,711,853  2,703,526 
    Less: accumulated depreciation 1,647,682  1,602,112 
$ 1,064,171  $ 1,101,414 
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, 2021:
Client /
vendor
relationships		 Revenue-
generating
contracts		 Venue management and leaseholds Trademarks
and
naming
rights		 Technology
Other (1)
Total
(in thousands)
Balance as of December 31, 2020:
Gross carrying amount
 $ 496,074  $ 578,664  $ 147,956  $ 150,344  $ 72,283  $ 17,413  $ 1,462,734 
Accumulated amortization
 (146,397) (277,710) (51,924) (73,604) (45,799) (11,700) (607,134)
Net 349,677  300,954  96,032  76,740  26,484  5,713  855,600 
Gross carrying amount:
Acquisitions—current year
 520  —  —  —  9,782  2,477  12,779 
Acquisitions—prior year
 5,366  —  —  —  —  —  5,366 
Foreign exchange (1,579) (9,166) (945) (1,356) (98) (8) (13,152)
Other (2)
(15,360) (1,250) —  (7) (7,618) 320  (23,915)
Net change (11,053) (10,416) (945) (1,363) 2,066  2,789  (18,922)
Accumulated amortization:
Amortization
(21,669) (16,043) (3,618) (4,180) (5,231) (1,160) (51,901)
Foreign exchange 1,330  3,130  120  228  70  1  4,879 
Other (2)
15,360  1,239  3  50  7,589  (91) 24,150 
Net change (4,979) (11,674) (3,495) (3,902) 2,428  (1,250) (22,872)
Balance as of March 31, 2021:
Gross carrying amount
 485,021  568,248  147,011  148,981  74,349  20,202  1,443,812 
Accumulated amortization
 (151,376) (289,384) (55,419) (77,506) (43,371) (12,950) (630,006)
Net $ 333,645  $ 278,864  $ 91,592  $ 71,475  $ 30,978  $ 7,252  $ 813,806 
______________

(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 2021 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
Weighted-
Average
Life (years)
Client/vendor relationships 5
Non-compete agreements 2
All categories 3
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, 2021:
Concerts Ticketing Sponsorship
& Advertising		 Total
(in thousands)
Balance as of December 31, 2020:
Goodwill $ 1,318,273  $ 782,559  $ 463,734  $ 2,564,566 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net 882,910  782,559  463,734  2,129,203 
Acquisitions—current year 532  —  —  532 
Acquisitions—prior year (1,815) (3,740) 419  (5,136)
Foreign exchange (2,980) (3,673) (4,252) (10,905)
Balance as of March 31, 2021:
Goodwill 1,314,010  775,146  459,901  2,549,057 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 878,647  $ 775,146  $ 459,901  $ 2,113,694 
[1] Other primarily includes intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets.