Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue $ 8,152,019 $ 6,153,535 $ 16,910,132 $ 12,390,517
Operating expenses:        
Direct operating expenses 6,330,465 4,707,848 12,610,832 9,045,893
Selling, general and administrative expenses 974,150 805,910 2,533,066 2,048,305
Depreciation and amortization 130,653 102,093 382,352 318,489
Gain (Loss) on Disposition of Other Assets 1,583 35,285 8,092 32,555
Corporate expenses 99,802 66,720 244,295 158,377
Operating income 618,532 506,249 1,147,679 852,008
Interest expense 86,215 70,514 257,425 205,722
Loss on extinguishment of debt 0 0 18,366 0
Interest income (78,107) (25,809) (174,872) (46,565)
Equity in losses (earnings) of nonconsolidated affiliates (5,382) 14,283 (15,047) 8,040
Other expense, net 19,251 7,960 24,235 22,398
Income before income taxes 596,555 439,301 1,037,572 662,413
Income tax expense 55,874 41,898 121,362 85,589
Net income 540,681 397,403 916,210 576,824
Net income attributable to noncontrolling interests 57,186 36,001 142,202 77,804
Net income attributable to common stockholders of Live Nation $ 483,495 $ 361,402 $ 774,008 $ 499,020
Basic net income per common share available to common stockholders of Live Nation $ 1.85 $ 1.47 $ 2.63 $ 1.79
Diluted net income per common share available to common stockholders of Live Nation $ 1.78 $ 1.39 $ 2.59 $ 1.73
Weighted average common shares outstanding:        
Basic 228,787,263 225,761,777 228,497,712 224,123,130
Diluted 244,163,678 243,686,803 235,146,395 239,617,920
Reconciliation to net income (loss) available to common stockholders of Live Nation:        
Net income attributable to common stockholders of Live Nation $ 483,495 $ 361,402 $ 774,008 $ 499,020
Accretion of redeemable noncontrolling interests (60,882) (29,915) (172,436) (97,723)
Net income available to common stockholders of Live Nation—basic 422,613 331,487 601,572 401,297
Convertible debt interest, net of tax 10,877 6,365 7,835 12,124
Net income available to common stockholders of Live Nation—diluted $ 433,490 $ 337,852 $ 609,407 $ 413,421