Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ (608,786) $ (1,827,790) $ 118,212
Reconciling items:      
Depreciation 222,840 245,713 220,459
Goodwill Impairment and Amortization of Intangible Assets 193,437 239,312 223,532
Amortization of non-recoupable ticketing contract advances 74,406 47,971 80,302
Deferred income tax benefit (9,639) (37,877) (465)
Amortization of debt issuance costs and discounts 37,260 32,774 24,116
Provision for uncollectible accounts receivable (17,826) 43,076 27,926
Non-cash compensation expense 209,337 116,889 48,785
Unrealized changes in fair value of contingent consideration (6,732) (24,448) 6,698
Equity in losses (earnings) of nonconsolidated affiliates, net of distributions 11,189 18,280 14,152
Loss (gain) on sale of investments in nonconsolidated affiliates (83,578) 1,727 (1,119)
Other, net (15,333) (18,472) (4,908)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Decrease (increase) in accounts receivable (485,211) 490,588 (159,792)
Decrease (increase) in prepaid expenses and other assets 95,533 141,631 (170,486)
Increase (decrease) in accounts payable, accrued expenses and other liabilities 1,315,722 (1,379,461) (45,920)
Increase in deferred revenue 847,949 826,699 88,291
Net cash provided by (used in) operating activities 1,780,568 (1,083,388) 469,783
CASH FLOWS FROM INVESTING ACTIVITIES      
Advances of notes receivable (28,899) (56,957) (50,035)
Collections of notes receivable 23,835 80,963 13,216
Investments made in nonconsolidated affiliates (110,589) (11,242) (57,280)
Purchases of property, plant and equipment (152,734) (213,746) (323,566)
Cash paid for acquisitions, net of cash acquired (384,251) (41,083) (235,071)
Purchases of intangible assets (7,100) (8,863) (42,261)
Proceeds from sale of investments in nonconsolidated affiliates 90,432 19,003 1,455
Other, net 2,344 7,863 2,542
Net cash used in investing activities (566,962) (224,062) (691,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from long-term debt, net of debt issuance costs 903,827 1,607,365 937,400
Payments of long-term debt including extinguishment costs (109,705) (30,987) (437,267)
Contributions from noncontrolling interests 22,026 5,418 14,285
Distributions to noncontrolling interests (52,368) (41,624) (107,476)
Purchases and sales of noncontrolling interest, net (9,638) (106,242) (50,267)
Proceeds from sale of common stock, net of issuance costs 449,630 0 0
Proceeds from exercise of stock options 30,618 30,647 14,104
Taxes paid for net share settlement of equity awards (45,845) (47,539) (15,353)
Payments for deferred and contingent consideration (17,319) (66,992) (26,537)
Other, net 106 36 0
Net cash provided by financing activities 1,171,332 1,350,082 328,889
Effect of exchange rate changes on cash, cash equivalents and restricted cash (43,585) 29,565 (11,633)
Net increase in cash, cash equivalents and restricted cash 2,341,353 72,197 96,039
Cash, cash equivalents and restricted cash at beginning of period 2,546,439 2,474,242 2,378,203
Cash, cash equivalents and restricted cash at end of period 4,887,792 2,546,439 2,474,242
Cash paid during the year for:      
Interest, net of interest income 224,402 166,403 103,915
Income taxes, net of refunds $ 15,911 $ 26,151 $ 66,937