Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Tables)

v2.4.0.6
LONG-LIVED ASSETS (Tables)
9 Months Ended
Sep. 30, 2012
LONG-LIVED ASSETS [Abstract]  
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 nine months ended September 30, 2012:                
 
 
 Venue
 Trademarks
 
 Revenue-
 Client /
 management
 and
 generating
 vendor
 Non-compete
 and
 naming
 contracts
 relationships
 agreements
 leaseholds
 Technology
 rights
 Other
 Total
 (in thousands)
 Balance as of December 31, 2011:
 Gross carrying amount
 $   542,426
 $   330,575
 $   171,765
 $   116,772
 $   103,337
 $     24,517
 $        6,426
 $ 1,295,818
 Accumulated amortization
    (170,889)
       (66,548)
       (93,464)
       (39,017)
       (31,812)
       (16,202)
         (4,174)
      (422,106)
 Net
      371,537
      264,027
         78,301
         77,755
         71,525
           8,315
           2,252
        873,712
 Gross carrying amount:
 Acquisitions
         21,353
         67,043
           3,000
                   -
         (2,336)
           5,764
                   -
          94,824
 Foreign exchange
           3,205
            (501)
                 (7)
           1,450
            (107)
              334
                38
            4,412
 Other (1)
       (39,219)
         (9,073)
         (4,197)
                   -
                   -
       (12,356)
                   -
        (64,845)
       (14,661)
         57,469
         (1,204)
           1,450
         (2,443)
         (6,258)
                38
          34,391
 Accumulated amortization:
 Amortization expense
       (51,140)
       (38,721)
       (19,254)
         (9,046)
       (15,881)
         (2,012)
            (337)
      (136,391)
 Foreign exchange
         (2,094)
              (23)
                 (1)
            (455)
                13
            (113)
              (28)
          (2,701)
 Other (1)
         39,301
           9,073
           4,949
                   -
                   -
         12,356
                   -
          65,679
       (13,933)
       (29,671)
       (14,306)
         (9,501)
       (15,868)
         10,231
            (365)
        (73,413)
 Balance as of September 30, 2012:
 Gross carrying amount
      527,765
      388,044
      170,561
      118,222
      100,894
         18,259
           6,464
    1,330,209
 Accumulated amortization
    (184,822)
       (96,219)
    (107,770)
       (48,518)
       (47,680)
         (5,971)
         (4,539)
      (495,519)
 Net
 $   342,943
 $   291,825
 $     62,791
 $     69,704
 $     53,214
 $     12,288
 $        1,925
 $    834,690
 
 __________________ 
 
(1)
Other includes netdowns of fully amortized or impaired assets. See further discussion of impairments below.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2012 additions to definite-lived intangible assets have weighted-average lives as follows:
 
 
 Weighted-
 Average
 Life (years)
 
 Revenue-generating contracts
12
 Client/vendor relationships
9
 Non-compete agreements
3
 Technology
6
 Trademarks and naming rights
10
 All categories
9
Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of the Company's segments for the nine months ended September 30, 2012:
 
 
 
 Artist
 Sponsorship
 Concerts
 Ticketing
 Nation
 eCommerce
 & Advertising
 Other
 Total
 (in thousands)
 Balance as of December 31, 2011:
 Goodwill
 $   387,188
 $   577,131
 $   262,158
 $   224,562
 $     76,507
 $     13,037
 $ 1,540,583
 Accumulated impairment losses
    (269,902)
                   -
                   -
                   -
                   -
       (13,037)
      (282,939)
      117,286
      577,131
      262,158
      224,562
         76,507
                   -
    1,257,644
 Recast balances (1):
 Fair value approach
                   -
         47,086
                   -
    (214,927)
      167,841
                   -
                     -
 Specific allocation
                   -
           9,635
                   -
         (9,635)
                   -
                   -
                     -
 Recast Balance as of January 1, 2012:
 Goodwill
      387,188
      633,852
      262,158
                   -
      244,348
         13,037
    1,540,583
 Accumulated impairment losses
    (269,902)
                   -
                   -
                   -
                   -
       (13,037)
      (282,939)
      117,286
      633,852
      262,158
                   -
      244,348
                   -
    1,257,644
 Acquisitions - current year
         62,047
                   -
           1,348
                   -
                   -
                   -
          63,395
 Acquisitions - prior year
                   -
           2,380
            (560)
                   -
                   -
                   -
            1,820
 Foreign exchange
           7,564
            (470)
                54
                   -
           8,592
                   -
          15,740
 Balance as of September 30, 2012:
 Goodwill
      456,799
      635,762
      263,000
                   -
      252,940
         13,037
    1,621,538
 Accumulated impairment losses
    (269,902)
                   -
                   -
                   -
                   -
       (13,037)
      (282,939)
 $   186,897
 $   635,762
 $   263,000
 $                -
 $   252,940
 $                -
 $ 1,338,599

___________
 
(1)
The beginning balance for the eCommerce segment has been recast to allocate goodwill to the Ticketing and Sponsorship & Advertising segments. The total consolidated amount remained unchanged.
Nonconsolidated Affiliates
Summarized unaudited income statement information for the Company's significant nonconsolidated affiliates is as follows (at 100%):
 
 Nine Months Ended
 September 30,
2012
2011
 (in thousands)
 Revenue
 $  35,994
 $  34,217
 Operating income
 $  19,201
 $  19,515
 Net income
 $  14,505
 $  14,075
Asset and Liability Values at the Time of Disposal and the Resulting Gain or Loss Recorded
 Divested Asset
 Segment
 Gain (Loss) on Sale of Operating Assets
 Current Assets
 Noncurrent Assets
 Current Liabilities
 Noncurrent Liabilities
 (in thousands)
 2012 Divestiture
 Ohio amphitheater
 Concerts
 $           444
 $                -
 $        5,400
 $           444
 $                -
 2011 Divestitures
 Selma amphitheater
 Concerts
 $           798
 $                -
 $        3,206
 $                -
 $                -
 Artist management company
 Artist Nation
 $      (1,256)
 $               3
 $        4,145
 $           119
 $                -