Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (Unaudited)

v2.4.0.6
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
12 Months Ended
Dec. 31, 2012
QUARTERLY RESULTS OF OPERATIONS (Unaudited) [Abstract]  
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
NOTE 14—QUARTERLY RESULTS OF OPERATIONS (Unaudited)
 

   
March 31,
   
June 30,
   
September 30,
   
December 31,
 
   
2012
   
2011
   
2012
   
2011
   
2012
   
2011
   
2012
   
2011
 
   
(in thousands)
 
Revenue
  $ 867,997     $ 849,409     $ 1,550,677     $ 1,558,882     $ 1,963,146     $ 1,790,025     $ 1,437,227     $ 1,185,682  
Operating expenses:
                                                               
Direct operating expenses
    538,714       547,124       1,106,869       1,138,151       1,457,423       1,286,304       1,048,271       817,909  
Selling, general and administrative expenses
    268,135       272,969       280,943       266,795       283,846       282,462       310,708       289,743  
Depreciation and amortization
    79,713       77,481       94,259       76,927       84,684       83,341       170,901       105,269  
Loss (gain) on sale of operating assets
    (288 )     1,295       93       (660 )     (60 )     231       (259 )     112  
Corporate expenses
    23,217       21,036       27,415       24,590       30,842       27,385       31,890       39,146  
Acquisition transaction expenses
    1,309       1,665       (1,870 )     706       1,896       5,493       2,035       187  
Operating income (loss)
    (42,803 )     (72,161 )     42,968       52,373       104,515       104,809       (126,319 )     (66,684 )
                                                                 
Interest expense
    29,710       29,229       29,488       30,845       35,535       30,388       29,007       29,952  
Gain on extinguishment of debt
    -       -       -       -       (460 )     -       -       -  
Interest income
    (900 )     (527 )     (931 )     (1,298 )     (994 )     (1,023 )     (1,345 )     (1,367 )
Equity in earnings of nonconsolidated affiliates
    (3,881 )     (994 )     (1,801 )     (1,778 )     (3,117 )     (2,777 )     (1,122 )     (2,193 )
Other expense (income), net
    (1,782 )     (585 )     5,424       1,331       (6,575 )     6,461       4,266       (700 )
Income (loss) before income taxes
    (65,950 )     (99,284 )     10,788       23,273       80,126       71,760       (157,215 )     (92,376 )
Income tax expense (benefit)
    4,278       (44,942 )     5,228       6,659       11,950       8,739       8,280       3,320  
Net income (loss)
    (70,228 )     (54,342 )     5,560       16,614       68,176       63,021       (165,405 )     (95,696 )
Net income (loss) attributable to noncontrolling interests
    (1,078 )     (5,882 )     (2,132 )     3,357       10,228       11,309       (5,688)       3,829  
Net income (loss) attributable to common stockholders of Live Nation Entertainment, Inc.
  $ (69,150 )   $ (48,460 )   $ 7,692     $ 13,257     $ 57,948     $ 51,712     $ (159,717 )   $ (99,525 )
                                                                 
Basic net income (loss) per common share attributable to common stockholders of Live Nation Entertainment, Inc.
  $ (0.37 )   $ (0.27 )   $ 0.04     $ 0.07     $ 0.31     $ 0.28     $ (0.87 )   $ (0.53 )
                                                                 
Diluted net income (loss) per common share attributable to common stockholders of Live Nation Entertainment, Inc.
  $ (0.37 )   $ (0.27 )   $ 0.04     $ 0.07     $ 0.31     $ 0.27     $
(0.87
)   $ (0.53 )