Annual report pursuant to Section 13 and 15(d)

LONG-LIVED ASSETS (Tables)

v3.6.0.2
LONG-LIVED ASSETS (Tables)
 12 Months Ended
Dec. 31, 2016
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 years ended December 31, 2016 and 2015:
 
Revenue-
generating
contracts
 
Client /
vendor
relationships
 
Trademarks
and
naming
rights
 
Non-compete
agreements
 
Technology
 
Venue
management
and
leaseholds
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2014:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
$
635,127

 
$
355,992

 
$
24,266

 
$
123,552

 
$
15,330

 
$
83,322

 
$
3,581

 
$
1,241,170

Accumulated amortization
(272,071
)
 
(123,195
)
 
(8,701
)
 
(98,512
)
 
(4,246
)
 
(50,490
)
 
(1,242
)
 
(558,457
)
Net
363,056

 
232,797

 
15,565

 
25,040

 
11,084

 
32,832

 
2,339

 
682,713

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
119,482

 
39,113

 
62,953

 
5,110

 
16,230

 
10,574

 
17

 
253,479

Acquisitions—prior year
(8,366
)
 
(4,694
)
 
—

 
49,851

 
11

 
—

 
—

 
36,802

Foreign exchange
(15,332
)
 
(8,474
)
 
(664
)
 
(2,159
)
 
(1,306
)
 
(3,784
)
 
—

 
(31,719
)
Other (1)
(30,116
)
 
(2,655
)
 
1

 
—

 
—

 
(24,061
)
 
—

 
(56,831
)
Net change
65,668

 
23,290

 
62,290

 
52,802

 
14,935

 
(17,271
)
 
17

 
201,731

Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(78,281
)
 
(51,116
)
 
(6,218
)
 
(22,869
)
 
(4,402
)
 
(10,684
)
 
(389
)
 
(173,959
)
Foreign exchange
6,494

 
2,036

 
340

 
62

 
46

 
1,468

 
—

 
10,446

Other (1)
30,115

 
2,655

 
1

 
—

 
—

 
24,061

 
—

 
56,832

Net change
(41,672
)
 
(46,425
)
 
(5,877
)
 
(22,807
)
 
(4,356
)
 
14,845

 
(389
)
 
(106,681
)
Balance as of December 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
700,795

 
379,282

 
86,556

 
176,354

 
30,265

 
66,051

 
3,598

 
1,442,901

Accumulated amortization
(313,743
)
 
(169,620
)
 
(14,578
)
 
(121,319
)
 
(8,602
)
 
(35,645
)
 
(1,631
)
 
(665,138
)
Net
387,052

 
209,662

 
71,978

 
55,035

 
21,663

 
30,406

 
1,967

 
777,763

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
136,029

 
42,861

 
5,100

 
9,550

 
24,804

 
1,449

 
412

 
220,205

Acquisitions—prior year
11,404

 
782

 
3,618

 
1,500

 
—

 
1,174

 
—

 
18,478

Dispositions
—

 
(2,299
)
 
—

 
—

 
—

 
(1,225
)
 
—

 
(3,524
)
Foreign exchange
(25,360
)
 
(4,528
)
 
(930
)
 
(4,260
)
 
(1,364
)
 
(3,848
)
 
(2
)
 
(40,292
)
Other (1)
(62,470
)
 
(14,089
)
 
(6
)
 
(117,152
)
 
(627
)
 
(9,600
)
 
6

 
(203,938
)
Net change
59,603

 
22,727

 
7,782

 
(110,362
)
 
22,813

 
(12,050
)
 
416

 
(9,071
)
Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(76,484
)
 
(60,815
)
 
(9,623
)
 
(19,195
)
 
(6,153
)
 
(5,406
)
 
(454
)
 
(178,130
)
Dispositions
—

 
599

 
—

 
—

 
—

 
22

 
—

 
621

Foreign exchange
10,555

 
1,962

 
477

 
1,188

 
491

 
1,765

 
(27
)
 
16,411

Other (1)
62,872

 
14,089

 
—

 
117,227

 
627

 
9,600

 
22

 
204,437

Net change
(3,057
)
 
(44,165
)
 
(9,146
)
 
99,220

 
(5,035
)
 
5,981

 
(459
)
 
43,339

Balance as of December 31, 2016:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
760,398

 
402,009

 
94,338

 
65,992

 
53,078

 
54,001

 
4,014

 
1,433,830

Accumulated amortization
(316,800
)
 
(213,785
)
 
(23,724
)
 
(22,099
)
 
(13,637
)
 
(29,664
)
 
(2,090
)
 
(621,799
)
Net
$
443,598

 
$
188,224

 
$
70,614

 
$
43,893

 
$
39,441

 
$
24,337

 
$
1,924

 
$
812,031


______________
(1) 
Other includes netdowns of fully amortized or impaired assets.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2016 and 2015 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
  
Weighted-
Average
Life (years)
 
2016
 
2015
 
 
 
 
Revenue-generating contracts
8
 
8
Client/vendor relationships
6
 
6
Trademarks and naming rights
10
 
10
Non-compete agreements
5
 
5
Technology
5
 
6
Venue management and leaseholds
5
 
8
All categories
7
 
8
Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets
The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at December 31, 2016:
 
 
(in thousands)
2017
$
177,921

2018
$
155,754

2019
$
131,077

2020
$
111,003

2021
$
77,837

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 years ended December 31, 2016 and 2015:
 
Concerts
 
Sponsorship
&  Advertising
 
Ticketing
 
Artist
Nation
 
Total
 
(in thousands)
Balance as of December 31, 2014:
 
 
 
 
 
 
 
 
 
Goodwill
$
577,891

 
$
302,865

 
$
657,631

 
$
345,513

 
$
1,883,900

Accumulated impairment losses
(386,915
)
 
—

 
—

 
(17,948
)
 
(404,863
)
                 Net
190,976

 
302,865

 
657,631

 
327,565

 
1,479,037

 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
57,792

 
43,248

 
77,951

 
15,051

 
194,042

Acquisitions—prior year
(28,472
)
 
(3,274
)
 
10,341

 
(17,968
)
 
(39,373
)
Foreign exchange
(4,440
)
 
(10,758
)
 
(12,098
)
 
(2,095
)
 
(29,391
)
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2015:
 
 
 
 
 
 
 
 
 
Goodwill
602,771

 
332,081

 
733,825

 
340,501

 
2,009,178

Accumulated impairment losses
(386,915
)
 
—

 
—

 
(17,948
)
 
(404,863
)
                 Net
215,856

 
332,081

 
733,825

 
322,553

 
1,604,315

 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
98,936

 
45,376

 
8,671

 
25,016

 
177,999

Acquisitions—prior year
(18,906
)
 
18,302

 
(108
)
 
449

 
(263
)
Dispositions
—

 
—

 
—

 
(323
)
 
(323
)
Foreign exchange
(29,143
)
 
67

 
(3,283
)
 
(2,281
)
 
(34,640
)
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2016:
 
 
 
 
 
 
 
 
Goodwill
653,658

 
395,826

 
739,105

 
363,362

 
2,151,951

Accumulated impairment losses
(386,915
)
 
—

 
—

 
(17,948
)
 
(404,863
)
                 Net
$
266,743

 
$
395,826

 
$
739,105

 
$
345,414

 
$
1,747,088


Investments in Nonconsolidated Affiliates
Summarized balance sheet and income statement information for these entities is as follows (at 100%):
 
 
December 31,
 
 
2016
 
2015
 
 
(in thousands)
Current assets
 
$
45,432

 
$
63,455

Noncurrent assets
 
$
2,908

 
$
4,474

Current liabilities
 
$
28,510

 
$
38,319

Noncontrolling interests
 
$
355

 
$
403

 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
 
 
(in thousands)
Revenue
 
$
47,757

 
$
51,629

 
$
43,490

Operating income
 
$
10,750

 
$
18,062

 
$
19,903

Net income
 
$
4,729

 
$
11,100

 
$
14,452

Net income attributable to the common stockholders of the equity investees
 
$
4,747

 
$
11,019

 
$
14,311