Annual report pursuant to Section 13 and 15(d)

LONG-LIVED ASSETS (Tables)

v3.25.0.1
LONG-LIVED ASSETS (Tables)
 12 Months Ended
Dec. 31, 2024
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment
Property, plant and equipment consisted of the following:
December 31,
2024 2023
(in thousands)
    Land, buildings and improvements $ 2,325,929  $ 2,043,595 
    Computer equipment and capitalized software 867,294  888,065 
    Furniture and other equipment 757,803  646,966 
    Construction in progress 386,880  317,028 
Property, plant and equipment, gross 4,337,906  3,895,654 
    Less: accumulated depreciation 1,896,034  1,794,191 
Property, plant and equipment, net $ 2,441,872  $ 2,101,463 
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 years ended December 31, 2024 and 2023:
Revenue-
generating
contracts		 Client /
vendor
relationships		 Venue management Trademarks
and
naming
rights
Technology and Other (1)
Total
  (in thousands)
Balance as of December 31, 2022:
Gross carrying amount
 $ 824,785  $ 563,210  $ 148,022  $ 188,596  $ 35,736  $ 1,760,349 
Accumulated amortization
 (316,581) (209,518) (58,588) (97,931) (27,109) (709,727)
Net
 508,204  353,692  89,434  90,665  8,627  1,050,622 
Gross carrying amount:
Acquisitions and additions—current year 136,117  46,767  77,329  —  21,789  282,002 
Acquisitions and additions—prior year (1,830) (6,681) (11) —  —  (8,522)
Foreign exchange
 57,797  17,070  3,960  8,151  (104) 86,874 
Other (2)
(91,612) (36,930) (2,512) (13,254) (37,201) (181,509)
Net change
 100,472  20,226  78,766  (5,103) (15,516) 178,845 
Accumulated amortization:
Amortization
(103,756) (75,994) (22,186) (18,390) (17,303) (237,629)
Foreign exchange
 (7,900) (3,019) (1,132) (1,448) (408) (13,907)
Other (2)
91,612  36,882  2,688  13,733  38,775  183,690 
Net change
 (20,044) (42,131) (20,630) (6,105) 21,064  (67,846)
Balance as of December 31, 2023:
Gross carrying amount
 925,257  583,436  226,788  183,493  20,220  1,939,194 
Accumulated amortization
 (336,625) (251,649) (79,218) (104,036) (6,045) (777,573)
Net
 588,632  331,787  147,570  79,457  14,175  1,161,621 
Gross carrying amount:
Acquisitions and additions—current year 68,453  52,406  35,273  7,331  7,551  171,014 
Acquisitions and additions—prior year 826  4,066  3  —  —  4,895 
Foreign exchange
 (96,995) (32,993) (6,954) (14,096) (709) (151,747)
Other (2)
(77,947) (39,343) (23,930) (14,240) (825) (156,285)
Net change
 (105,663) (15,864) 4,392  (21,005) 6,017  (132,123)
Accumulated amortization:
Amortization
(111,711) (86,637) (23,978) (17,791) (9,142) (249,259)
Foreign exchange
 29,331  12,013  2,185  5,096  89  48,714 
Other (2)
79,707  39,892  24,066  11,763  1,432  156,860 
Net change
 (2,673) (34,732) 2,273  (932) (7,621) (43,685)
Balance as of December 31, 2024:
Gross carrying amount
 819,594  567,572  231,180  162,488  26,237  1,807,071 
Accumulated amortization
 (339,298) (286,381) (76,945) (104,968) (13,667) (821,259)
Net
 $ 480,296  $ 281,191  $ 154,235  $ 57,520  $ 12,570  $ 985,812 
___________________
(1) Other primarily includes intangible assets for non-compete agreements.
(2) Other primarily includes netdowns of fully amortized or impaired assets.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
  
Weighted-Average Life
2024 2023
(in years)
Revenue-generating contracts 9 5
Client/vendor relationships 5 4
Trademarks and naming rights 6 0
Technology 3 3
Venue management 6 11
All categories 7 8
Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets
The following table presents our estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at December 31, 2024:
 
  (in thousands)
2025 $ 223,347 
2026 $ 187,016 
2027 $ 149,931 
2028 $ 129,323 
2029 $ 109,702 
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 years ended December 31, 2024 and 2023:
Concerts Ticketing Sponsorship
& Advertising		 Total
  (in thousands)
Balance as of December 31, 2022:
Goodwill $ 1,349,426  $ 979,742  $ 635,575  $ 2,964,743 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net 914,063  979,742  635,575  2,529,380 
Acquisitions—current year 90,298  —  —  90,298 
Acquisitions—prior year 1,657  143  —  1,800 
Dispositions (6,183) —  —  (6,183)
Foreign exchange 4,381  32,645  39,145  76,171 
Balance as of December 31, 2023:
Goodwill 1,439,579  1,012,530  674,720  3,126,829 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net 1,004,216  1,012,530  674,720  2,691,466 
Acquisitions—current year 41,095  507  1,015  42,617 
Acquisitions—prior year 4,136  —  —  4,136 
Foreign exchange (22,708) (48,816) (45,784) (117,308)
Balance as of December 31, 2024:
Goodwill 1,462,102  964,221  629,951  3,056,274 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 1,026,739  $ 964,221  $ 629,951  $ 2,620,911