Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA Segment Data (Tables)

v3.22.2.2
SEGMENT DATA Segment Data (Tables)
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Results of Operations Related to Reportable Segments of the Entity
The following table presents the results of operations for our reportable segments for the three and nine months ended September 30, 2022 and 2021:
Concerts Ticketing Sponsorship
& Advertising
Other & Eliminations Corporate Consolidated
(in thousands)
Three Months Ended September 30, 2022
Revenue $ 5,292,594  $ 531,570  $ 343,029  $ (13,658) $ —  $ 6,153,535 
Intersegment revenue $ 4,408  $ 9,748  $ —  $ (14,156) $ —  $ — 
AOI $ 280,809  $ 163,176  $ 226,234  $ (3,420) $ (46,081) $ 620,718 
Three Months Ended September 30, 2021
Revenue $ 2,151,596  $ 374,237  $ 174,449  $ (1,560) $ —  $ 2,698,722 
Intersegment revenue $ 1,473  $ 630  $ —  $ (2,103) $ —  $ — 
AOI $ 59,578  $ 171,754  $ 111,211  $ (1,179) $ (35,684) $ 305,680 
Nine Months Ended September 30, 2022
Revenue $ 10,098,180  $ 1,587,274  $ 722,504  $ (17,441) $ —  $ 12,390,517 
Intersegment revenue $ 6,635  $ 12,660  $ —  $ (19,295) $ —  $ — 
AOI $ 354,587  $ 600,155  $ 474,238  $ (9,827) $ (109,797) $ 1,309,356 
Nine Months Ended September 30, 2021
Revenue $ 2,677,970  $ 646,560  $ 241,657  $ (910) $ —  $ 3,565,277 
Intersegment revenue $ 1,473  $ 1,610  $ —  $ (3,083) $ —  $ — 
AOI $ (99,010) $ 208,418  $ 127,755  $ (4,624) $ (68,951) $ 163,588 
Reconciliation of AOI to Operating Income (Loss)
The following table sets forth the reconciliation of consolidated AOI to operating income (loss) for the three and nine months ended September 30, 2022 and 2021:
Three Months Ended September 30, Nine Months Ended September 30,
2022 2021 2022 2021
(in thousands)
AOI $ 620,718  $ 305,680  $ 1,309,356  $ 163,588 
Acquisition expenses 7,495  20,644  29,115  14,801 
Amortization of non-recoupable ticketing contract advance 15,729  20,486  56,121  49,214 
Depreciation and amortization 102,093  101,235  318,489  313,758 
Gain on sale of operating assets (35,285) (1,148) (32,555) (1,038)
Stock-based compensation expense 24,437  27,318  86,178  80,165 
Operating income (loss) $ 506,249  $ 137,145  $ 852,008  $ (293,312)