Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 409,193,000 $ (608,786,000) $ (1,827,790,000)
Reconciling items:      
Depreciation 225,770,000 222,840,000 245,713,000
Amortization 224,206,000 193,437,000 239,312,000
Amortization of non-recoupable ticketing contract advances 79,043,000 74,406,000 47,971,000
Deferred income tax benefit 7,199,000 (9,639,000) (37,877,000)
Amortization of debt issuance costs and discounts 16,448,000 37,260,000 32,774,000
Provision for uncollectible accounts receivable 68,612,000 (17,826,000) 43,076,000
Non-cash compensation expense 110,049,000 209,337,000 116,889,000
Unrealized changes in fair value of contingent consideration 56,704,000 (6,732,000) (24,448,000)
Equity in losses earnings of nonconsolidated affiliates, net of distributions 14,912,000 11,189,000 18,280,000
Loss (gain) on sale of investments in nonconsolidated affiliates 1,357,000 (83,578,000) 1,727,000
Other, net (19,283,000) (15,333,000) (18,472,000)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Decrease (increase) in accounts receivable (463,977,000) (485,211,000) 490,588,000
Decrease (increase) in prepaid expenses and other assets (267,945,000) 95,533,000 141,631,000
Increase (decrease) in accounts payable, accrued expenses and other liabilities 1,002,158,000 1,315,722,000 (1,379,461,000)
Increase in deferred revenue 367,617,000 847,949,000 826,699,000
Net cash provided by (used in) operating activities 1,832,063,000 1,780,568,000 (1,083,388,000)
CASH FLOWS FROM INVESTING ACTIVITIES      
Advances of notes receivable (115,992,000) (28,899,000) (56,957,000)
Collections of notes receivable 20,527,000 23,835,000 80,963,000
Investments made in nonconsolidated affiliates (91,186,000) (110,589,000) (11,242,000)
Purchases of property, plant and equipment (347,206,000) (152,734,000) (213,746,000)
Cash paid for acquisitions, net of cash acquired (257,191,000) (384,251,000) (41,083,000)
Purchases of intangible assets (6,080,000) (7,100,000) (8,863,000)
Proceeds from sale of investments in nonconsolidated affiliates 3,863,000 90,432,000 19,003,000
Other, net 8,574,000 2,344,000 7,863,000
Net cash used in investing activities (784,691,000) (566,962,000) (224,062,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from long-term debt, net of debt issuance costs 122,251,000 903,827,000 1,607,365,000
Payments of long-term debt including extinguishment costs (45,792,000) (109,705,000) (30,987,000)
Contributions from noncontrolling interests 15,021,000 22,026,000 5,418,000
Distributions to noncontrolling interests (100,660,000) (52,368,000) (41,624,000)
Purchases and sales of noncontrolling interest, net (48,306,000) (9,638,000) (106,242,000)
Proceeds from sale of common stock, net of issuance costs 0 449,630,000 0
Proceeds from exercise of stock options 35,775,000 30,618,000 30,647,000
Taxes paid for net share settlement of equity awards (76,925,000) (45,845,000) (47,539,000)
Payments for deferred and contingent consideration (44,220,000) (17,319,000) (66,992,000)
Other, net (484,000) 106,000 36,000
Net cash provided by (used in) financing activities (143,340,000) 1,171,332,000 1,350,082,000
Effect of exchange rate changes on cash, cash equivalents and restricted cash (179,450,000) (43,585,000) 29,565,000
Net increase in cash, cash equivalents and restricted cash 724,582,000 2,341,353,000 72,197,000
Cash, cash equivalents and restricted cash at beginning of period 4,887,792,000 2,546,439,000 2,474,242,000
Cash, cash equivalents and restricted cash at end of period 5,612,374,000 4,887,792,000 2,546,439,000
Cash paid during the year for:      
Interest, net of interest income 180,878,000 224,402,000 166,403,000
Income taxes, net of refunds $ 43,859,000 $ 15,911,000 $ 26,151,000