Live Nation Entertainment Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

LONG-LIVED ASSETS

LONG-LIVED ASSETS

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Property, Plant, and Equipment and Intangible Assets

LONG-LIVED ASSETS, INTANGIBLES, AND GOODWILL

Property, Plant and Equipment, Net

Property, plant and equipment includes expenditures for the construction of new venues, major renovations to existing buildings or buildings that are being added to our venue network, the development of new ticketing tools and technology enhancements, along with the renewal and improvement of existing venues and technology systems, web development and administrative offices. For certain projects with significant expected costs and an extended construction period, we capitalize interest. For the three months ended March 31, 2026, we recorded $6.9 million of capitalized interest.

Property, plant and equipment, net consisted of the following:


	March 31, 2026		December 31, 2025
	(in thousands)
Land, buildings and improvements	$	3,057,518	$	2,873,491
Computer equipment and capitalized software	836,632		815,403
Furniture and other equipment	1,012,377		952,651
Construction in progress	880,811		830,878
Property, plant and equipment, gross	5,787,338		5,472,423
Less: accumulated depreciation	2,123,107		2,056,652
Property, plant and equipment, net	$	3,664,231	$	3,415,771

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, 2026:


	Revenue- generating contracts		Client / vendor relationships		Venue management		Trademarks and naming rights		Technology and other (1)		Total
	(in thousands)
Balance as of December 31, 2025:
Gross carrying amount	$	786,202	$	731,488	$	242,430	$	103,289	$	51,406	$	1,914,815
Accumulated amortization	(335,483)		(334,693)		(91,472)		(52,658)		(22,056)		(836,362)
Net	450,719		396,795		150,958		50,631		29,350		1,078,453
Gross carrying amount:
Acquisitions and additions current year	23,792		36,115		3,774		—		—		63,681
Acquisitions and additions prior year	557		160		(2)		—		1,091		1,806

Foreign exchange	(397)		(2,570)		(907)		518		(214)		(3,570)
Other (2)	(19,995)		(23,100)		—		—		(21,872)		(64,967)
Net change	3,957		10,605		2,865		518		(20,995)		(3,050)
Accumulated amortization:
Amortization	(25,187)		(29,963)		(7,980)		(2,908)		(3,693)		(69,731)

Foreign exchange	743		2,024		421		(333)		134		2,989
Other (2)	19,987		23,100		4		(9)		19,547		62,629
Net change	(4,457)		(4,839)		(7,555)		(3,250)		15,988		(4,113)
Balance as of March 31, 2026:
Gross carrying amount	790,159		742,093		245,295		103,807		30,411		1,911,765
Accumulated amortization	(339,940)		(339,532)		(99,027)		(55,908)		(6,068)		(840,475)
Net	$	450,219	$	402,561	$	146,268	$	47,899	$	24,343	$	1,071,290

__________________

(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.

Included in the current year acquisitions amounts above are definite-lived intangible assets primarily associated with the acquisitions of an artist management business located in the United States and a venue management business located in Europe.

The 2026 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows:


			Weighted-Average Life (years)
Revenue-generating contracts			8
Client/vendor relationships			5


Venue management			10


All categories			6

Amortization of definite-lived intangible assets for the three months ended March 31, 2026 and 2025 was $69.7 million and $60.0 million, respectively. As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization expense may vary.

Goodwill

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, 2026:


	Concerts		Ticketing		Sponsorship & Advertising		Total
	(in thousands)
Balance as of December 31, 2025:
Goodwill	$	1,615,188	$	1,014,580	$	694,773	$	3,324,541
Accumulated impairment losses	(435,363)		—		—		(435,363)
Net	1,179,825		1,014,580		694,773		2,889,178
Acquisitions—current year	35,499		—		17,671		53,170
Acquisitions—prior year	1,504		(120)		—		1,384


Foreign exchange	(3,467)		(1,884)		(5,138)		(10,489)
Balance as of March 31, 2026:
Goodwill	1,648,724		1,012,576		707,306		3,368,606
Accumulated impairment losses	(435,363)		—		—		(435,363)
Net	$	1,213,361	$	1,012,576	$	707,306	$	2,933,243

Included in the current year acquisitions amounts above are goodwill primarily associated with the acquisitions of an artist management business located in the United States and a venue management business located in Europe.

We are in various stages of finalizing our acquisition accounting for recent acquisitions, which may include the use of external valuation consultants, and the completion of this accounting could result in a change to the associated purchase price allocations, including goodwill and our allocation between segments.

Investments in Nonconsolidated Affiliates

At March 31, 2026 and December 31, 2025, we had investments in nonconsolidated affiliates of $549.4 million and $515.6 million, respectively, included in other long-term assets on our consolidated balance sheets.