Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Tables)

v2.4.0.8
LONG-LIVED ASSETS (Tables)
 6 Months Ended
Jun. 30, 2013
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 six months ended June 30, 2013:
 
Revenue-
generating
contracts
 
Client /
vendor
relationships
 
Non-compete
agreements
 
Venue
management
and
leaseholds
 
Technology
 
Trademarks
and
naming
rights
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
$
515,071

 
$
261,655

 
$
168,418

 
$
118,259

 
$
101,424

 
$
18,423

 
$
6,452

 
$
1,189,702

Accumulated amortization
(197,549
)
 
(39,807
)
 
(111,369
)
 
(51,891
)
 
(53,295
)
 
(6,678
)
 
(4,650
)
 
(465,239
)
Net
317,522

 
221,848

 
57,049

 
66,368

 
48,129

 
11,745

 
1,802

 
724,463

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
10,892

 
4,540

 
—

 
—

 
—

 
22,947

 
—

 
38,379

Acquisitions—prior year
(1,028
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(1,028
)
Dispositions
—

 
(1,354
)
 
—

 
—

 
—

 
—

 
—

 
(1,354
)
Foreign exchange
(7,537
)
 
(7,359
)
 
(104
)
 
(2,163
)
 
(339
)
 
(481
)
 
(56
)
 
(18,039
)
Other (1)
(14,769
)
 
—

 
(14,257
)
 
—

 
—

 
405

 
(3,031
)
 
(31,652
)
 
(12,442
)
 
(4,173
)
 
(14,361
)
 
(2,163
)
 
(339
)
 
22,871

 
(3,087
)
 
(13,694
)
Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(23,251
)
 
(22,781
)
 
(10,896
)
 
(10,803
)
 
(11,438
)
 
(2,131
)
 
(244
)
 
(81,544
)
Dispositions
—

 
61

 
—

 
—

 
—

 
—

 
—

 
61

Foreign exchange
3,593

 
968

 
91

 
754

 
202

 
114

 
51

 
5,773

Other (1)
14,745

 
—

 
14,757

 
—

 
—

 
775

 
3,031

 
33,308

 
(4,913
)
 
(21,752
)
 
3,952

 
(10,049
)
 
(11,236
)
 
(1,242
)
 
2,838

 
(42,402
)
Balance as of June 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
502,629

 
257,482

 
154,057

 
116,096

 
101,085

 
41,294

 
3,365

 
1,176,008

Accumulated amortization
(202,462
)
 
(61,559
)
 
(107,417
)
 
(61,940
)
 
(64,531
)
 
(7,920
)
 
(1,812
)
 
(507,641
)
Net
$
300,167

 
$
195,923

 
$
46,640

 
$
54,156

 
$
36,554

 
$
33,374

 
$
1,553

 
$
668,367

_________
(1)
Other includes a reclassification from indefinite-lived intangible assets due to a change in the asset’s estimated useful life and netdowns of fully amortized assets.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2013 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
  
Weighted-
Average
Life (years)
 
 
Revenue-generating contracts
7
Client/vendor relationships
7
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 reportable segments for the six months ended June 30, 2013:
 
Concerts
 
Ticketing
 
Artist
Nation
 
Sponsorship
&  Advertising
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
468,891

 
$
637,642

 
$
266,820

 
$
254,376

 
$
13,037

 
$
1,640,766

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(13,037
)
 
(282,939
)
 
198,989

 
637,642

 
266,820

 
254,376

 
—

 
1,357,827

 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
47,189

 
—

 
—

 
866

 
—

 
48,055

Acquisitions—prior year
(9,999
)
 
—

 
6,849

 
—

 
—

 
(3,150
)
Dispositions
(3,691
)
 
—

 
(251
)
 
—

 
—

 
(3,942
)
Foreign exchange
(16,763
)
 
(1,076
)
 
(275
)
 
(11,614
)
 
—

 
(29,728
)
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of June 30, 2013:
 
 
 
 
 
 
 
 
 
 
Goodwill
485,627

 
636,566

 
273,143

 
243,628

 
13,037

 
1,652,001

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(13,037
)
 
(282,939
)
 
$
215,725

 
$
636,566

 
$
273,143

 
$
243,628

 
$
—

 
$
1,369,062

Investments in Nonconsolidated Affiliates
Summarized unaudited income statement information for the Company’s significant nonconsolidated affiliates is as follows (at 100%):
 
Six Months Ended 
 June 30,
 
2013
 
2012
 
 (in thousands)
 Revenue
$
28,203

 
$
28,929

 Operating income
$
14,956

 
$
15,399

 Net income
$
11,693

 
$
12,720

Asset and Liability Values at the Time of Disposal and the Resulting Gain or Loss Recorded
The table below summarizes the asset and liability values at the time of sale for significant disposals and the resulting gain or loss recorded.
Divested Asset
 
Segment
 
Loss (Gain)
on Disposal of
Operating
Assets
 
Current
Assets
 
Noncurrent
Assets
 
Current
Liabilities
 
Noncurrent
Liabilities
 
 
(in thousands)
2013 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
New York theatrical theater
 
Concerts
 
$
(21,887
)
 
$
—

 
$
35,785

 
$
—

 
$
3,636

2012 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
Ohio amphitheater
 
Concerts
 
$
(444
)
 
$
—

 
$
5,400

 
$
444

 
$
—