Quarterly report [Sections 13 or 15(d)]

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

v3.25.1
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment
Property, plant and equipment, net consisted of the following:
March 31, 2025 December 31, 2024
(in thousands)
Land, buildings and improvements $ 2,482,152  $ 2,325,929 
Computer equipment and capitalized software 927,670  867,294 
Furniture and other equipment 783,865  757,803 
Construction in progress 487,754  386,880 
Property, plant and equipment, gross 4,681,441  4,337,906 
Less: accumulated depreciation 1,993,681  1,896,034 
Property, plant and equipment, net $ 2,687,760  $ 2,441,872 
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 three months ended March 31, 2025:
Revenue-
generating
contracts		 Client /
vendor
relationships		 Venue management Trademarks
and
naming
rights
Technology and other (1)
Total
(in thousands)
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 
Gross carrying amount:
Acquisitions and additions—current year
 3,624  84,423  1,217  1,677  268  91,209 
Foreign exchange 13,205  2,491  1,415  1,494  232  18,837 
Other (2)
(13,955) (14,052) (11,015) (23,886) 11,265  (51,643)
Net change 2,874  72,862  (8,383) (20,715) 11,765  58,403 
Accumulated amortization:
Amortization
(24,953) (20,744) (7,157) (4,646) (2,493) (59,993)
Foreign exchange (5,797) (976) (604) (635) (68) (8,080)
Other (2)
13,997  13,850  11,045  23,890  85  62,867 
Net change (16,753) (7,870) 3,284  18,609  (2,476) (5,206)
Balance as of March 31, 2025:
Gross carrying amount
 822,468  640,434  222,797  141,773  38,002  1,865,474 
Accumulated amortization
 (356,051) (294,251) (73,661) (86,359) (16,143) (826,465)
Net $ 466,417  $ 346,183  $ 149,136  $ 55,414  $ 21,859  $ 1,039,009 
__________________
(1) Other primarily includes crypto assets and intangible assets for non-compete agreements.
(2) Other primarily includes netdowns of fully amortized or impaired assets as well as mark-to-market adjustments of crypto assets.
[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2025 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows:
Weighted-Average
Life (years)
Revenue-generating contracts 3
Client/vendor relationships 10
Venue management 3
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 three months ended March 31, 2025:
Concerts Ticketing Sponsorship
& Advertising		 Total
(in thousands)
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 
Acquisitions—current year 55,549  —  —  55,549 
Acquisitions—prior year (298) —  —  (298)
Foreign exchange 11,920  6,263  8,787  26,970 
Balance as of March 31, 2025:
Goodwill 1,529,273  970,484  638,738  3,138,495 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 1,093,910  $ 970,484  $ 638,738  $ 2,703,132 
[1] Other primarily includes crypto assets and intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets as well as mark-to-market adjustments of crypto assets.