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

Quarterly report [Sections 13 or 15(d)]

LONG-LIVED ASSETS

LONG-LIVED ASSETS

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [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 six months ended June 30, 2026, we recorded $13.0 million of capitalized interest.

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


	June 30, 2026		December 31, 2025
	(in thousands)
Land, buildings and improvements	$	3,387,962	$	2,873,491
Computer equipment and capitalized software	846,817		815,403
Furniture and other equipment	1,077,401		952,651
Construction in progress	844,281		830,878
Property, plant and equipment, gross	6,156,461		5,472,423
Less: accumulated depreciation	2,192,468		2,056,652
Property, plant and equipment, net	$	3,963,993	$	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 six months ended June 30, 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	92,410		93,843		74,017		—		—		260,270
Acquisitions and additions prior year	205		1,015		(559)		—		1,901		2,562
Dispositions	(9,274)		—		—		—		—		(9,274)
Foreign exchange	11,837		(513)		(1,067)		2,236		110		12,603
Other (2)	(23,595)		(38,638)		(8,391)		(571)		(22,680)		(93,875)
Net change	71,583		55,707		64,000		1,665		(20,669)		172,286
Accumulated amortization:
Amortization	(48,548)		(60,883)		(16,148)		(6,252)		(4,861)		(136,692)
Dispositions	3,993		—		—		—		—		3,993
Foreign exchange	(3,875)		2,457		617		(1,097)		(9)		(1,907)
Other (2)	23,538		38,631		8,193		564		18,929		89,855
Net change	(24,892)		(19,795)		(7,338)		(6,785)		14,059		(44,751)
Balance as of June 30, 2026:
Gross carrying amount	857,785		787,195		306,430		104,954		30,737		2,087,101
Accumulated amortization	(360,375)		(354,488)		(98,810)		(59,443)		(7,997)		(881,113)
Net	$	497,410	$	432,707	$	207,620	$	45,511	$	22,740	$	1,205,988

__________________

(1) Other primarily includes crypto assets.

(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 a venue management business and a concert promotion business, both located in Latin America, a ticketing services business located in Asia and an artist management business located in the United States. 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 intangible assets and our allocation between segments.

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


			Weighted-Average Life (years)
Revenue-generating contracts			6
Client/vendor relationships			5


Venue management			30


All categories			12

Amortization of definite-lived intangible assets for the three months ended June 30, 2026 and 2025 was $67.0 million and $64.7 million, respectively and for the six months ended June 30, 2026 and 2025 was $136.7 million and $124.7 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 six months ended June 30, 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	146,101		—		44,837		190,938
Acquisitions—prior year	635		(144)		—		491

Dispositions	(16,449)		—		—		(16,449)
Foreign exchange	(7,333)		4,406		2,495		(432)
Balance as of June 30, 2026:
Goodwill	1,738,142		1,018,842		742,105		3,499,089
Accumulated impairment losses	(435,363)		—		—		(435,363)
Net	$	1,302,779	$	1,018,842	$	742,105	$	3,063,726

Included in the current year acquisitions amounts above are goodwill primarily associated with the acquisitions of venue management businesses in Latin America and 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 June 30, 2026 and December 31, 2025, we had investments in nonconsolidated affiliates of $736.3 million and $515.6 million, respectively, included in other long-term assets on our consolidated balance sheets.