|9 Months Ended|
Sep. 30, 2022
|LONG-LIVED ASSETS [Abstract]|
|LONG-LIVED ASSETS||LONG-LIVED ASSETS
Property, Plant and Equipment, Net
Property, plant and equipment, net, consisted of the following:
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 nine months ended September 30, 2022:
(1) Other primarily includes intangible assets for non-compete agreements.
(2) Other primarily includes netdowns of fully amortized or impaired assets.
Included in the current year acquisitions amounts above are definite-lived intangible assets primarily associated with the acquisitions of a concert promotion business located in Germany, a ticketing business located in Thailand as well as a sports management business and a venue management business, both located in the United States.
The 2022 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
Amortization of definite-lived intangible assets for the three months ended September 30, 2022 and 2021 was $48.1 million and $46.1 million, and for the nine months ended September 30, 2022 and 2021 was $150.4 million and $146.6 million, respectively. As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization will vary.
The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the nine months ended September 30, 2022:
We are in various stages of finalizing our acquisition accounting for recent acquisitions, which may include the use of external valuation consultants, and the completion of this accounting could result in a change to the associated purchase price allocations, including goodwill and our allocation between segments.
Investments in Nonconsolidated Affiliates
At September 30, 2022 and December 31, 2021, we had investments in nonconsolidated affiliates of $355.6 million and $293.6 million, respectively, included in other long-term assets on our consolidated balance sheets.
During the nine months ended September 30, 2021, we sold certain investments in nonconsolidated affiliates for $101.1 million in cash and noncash consideration resulting in a gain on sale of investments in nonconsolidated affiliates of $83.6 million. During the nine months ended September 30, 2022, there were no significant sales of investments in nonconsolidated affiliates.
We entered into certain agreements whereby we received equity in the counterparty to those agreements primarily in exchange for providing sponsorship and marketing programs and support. We recognized $5.6 million and $25.0 million of noncash additions to investments in nonconsolidated affiliates for the nine months ended September 30, 2022 and 2021, respectively, which are included in other long-term assets on our consolidated balance sheets associated with these agreements.
The entire disclosure for long-lived assets, which may include long-lived physical assets used in the normal conduct of business and not intended for resale, goodwill and intangible assets.
No definition available.