Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2.2
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 9 Months Ended
Sep. 30, 2022
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
September 30, 2022 December 31, 2021
(in thousands)
    Land, buildings and improvements $ 1,344,611  $ 1,324,278 
    Computer equipment and capitalized software 877,210  910,581 
    Furniture and other equipment 478,341  411,403 
    Construction in progress 169,327  173,865 
2,869,489  2,820,127 
    Less: accumulated depreciation 1,771,558  1,728,198 
$ 1,097,931  $ 1,091,929 
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 nine months ended September 30, 2022:
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, 2021:
Gross carrying amount
 $ 576,930  $ 593,258  $ 232,856  $ 180,865  $ 37,335  $ 10,414  $ 1,631,658 
Accumulated amortization
 (178,725) (275,909) (46,929) (79,349) (18,375) (6,033) (605,320)
Net 398,205  317,349  185,927  101,516  18,960  4,381  1,026,338 
Gross carrying amount:
Acquisitions—current year
 24,979  23,313  9,978  —  —  1,728  59,998 
Acquisitions—prior year
 (2,000) 3,600  —  (1,000) —  —  600 
Foreign exchange (19,427) (20,331) (5,053) (374) (26) (897) (46,108)
Other (2)
(8,716) (8,097) (615) 39  (7,489) (1,211) (26,089)
Net change (5,164) (1,515) 4,310  (1,335) (7,515) (380) (11,599)
Accumulated amortization:
Amortization
(56,711) (49,762) (18,475) (13,214) (8,386) (3,821) (150,369)
Foreign exchange 8,761  12,326  3,476  860  17  259  25,699 
Other (2)
8,685  7,719  731  (533) 8,460  2,310  27,372 
Net change (39,265) (29,717) (14,268) (12,887) 91  (1,252) (97,298)
Balance as of September 30, 2022:
Gross carrying amount
 571,766  591,743  237,166  179,530  29,820  10,034  1,620,059 
Accumulated amortization
 (217,990) (305,626) (61,197) (92,236) (18,284) (7,285) (702,618)
Net $ 353,776  $ 286,117  $ 175,969  $ 87,294  $ 11,536  $ 2,749  $ 917,441 

(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 2022 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
Weighted-
Average
Life (years)
Revenue-generating contracts 5
Client/vendor relationships 5
Venue management and leaseholds 30
All categories 9
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 nine months ended September 30, 2022:
Concerts Ticketing Sponsorship
& Advertising		 Total
(in thousands)
Balance as of December 31, 2021:
Goodwill $ 1,390,451  $ 930,064  $ 705,717  $ 3,026,232 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net 955,088  930,064  705,717  2,590,869 
Acquisitions—current year 34,256  —  —  34,256 
Acquisitions—prior year (22,339) 12,057  1,898  (8,384)
Dispositions (1,792) —  —  (1,792)
Foreign exchange (33,833) (13,435) (19,229) (66,497)
Balance as of September 30, 2022:
Goodwill 1,366,743  928,686  688,386  2,983,815 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 931,380  $ 928,686  $ 688,386  $ 2,548,452 
[1] Other primarily includes intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets.