| 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, 2017 and 2016:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue-
generating
contracts
|
|
Client /
vendor
relationships
|
|
Trademarks
and
naming
rights |
|
Technology |
|
Other (1)
|
|
Total |
|
(in thousands) |
Balance as of December 31, 2015: |
|
|
|
|
|
|
|
|
Gross carrying amount |
$ |
700,795 |
|
|
$ |
379,282 |
|
|
$ |
86,556 |
|
|
$ |
30,265 |
|
|
$ |
246,003 |
|
|
$ |
1,442,901 |
|
Accumulated amortization |
(313,743 |
) |
|
(169,620 |
) |
|
(14,578 |
) |
|
(8,602 |
) |
|
(158,595 |
) |
|
(665,138 |
) |
Net |
387,052 |
|
|
209,662 |
|
|
71,978 |
|
|
21,663 |
|
|
87,408 |
|
|
777,763 |
|
Gross carrying amount: |
|
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
136,029 |
|
|
42,861 |
|
|
5,100 |
|
|
24,804 |
|
|
11,411 |
|
|
220,205 |
|
Acquisitions—prior year |
11,404 |
|
|
782 |
|
|
3,618 |
|
|
— |
|
|
2,674 |
|
|
18,478 |
|
Dispositions |
— |
|
|
(2,299 |
) |
|
— |
|
|
— |
|
|
(1,225 |
) |
|
(3,524 |
) |
Foreign exchange |
(25,360 |
) |
|
(4,528 |
) |
|
(930 |
) |
|
(1,364 |
) |
|
(8,110 |
) |
|
(40,292 |
) |
Other (2)
|
(62,470 |
) |
|
(14,089 |
) |
|
(6 |
) |
|
(627 |
) |
|
(126,746 |
) |
|
(203,938 |
) |
Net change |
59,603 |
|
|
22,727 |
|
|
7,782 |
|
|
22,813 |
|
|
(121,996 |
) |
|
(9,071 |
) |
Accumulated amortization: |
|
|
|
|
|
|
|
|
|
|
Amortization |
(76,484 |
) |
|
(60,815 |
) |
|
(9,623 |
) |
|
(6,153 |
) |
|
(25,055 |
) |
|
(178,130 |
) |
Dispositions |
— |
|
|
599 |
|
|
— |
|
|
— |
|
|
22 |
|
|
621 |
|
Foreign exchange |
10,555 |
|
|
1,962 |
|
|
477 |
|
|
491 |
|
|
2,926 |
|
|
16,411 |
|
Other (2)
|
62,872 |
|
|
14,089 |
|
|
— |
|
|
627 |
|
|
126,849 |
|
|
204,437 |
|
Net change |
(3,057 |
) |
|
(44,165 |
) |
|
(9,146 |
) |
|
(5,035 |
) |
|
104,742 |
|
|
43,339 |
|
Balance as of December 31, 2016: |
|
|
|
|
|
|
|
|
Gross carrying amount |
760,398 |
|
|
402,009 |
|
|
94,338 |
|
|
53,078 |
|
|
124,007 |
|
|
1,433,830 |
|
Accumulated amortization |
(316,800 |
) |
|
(213,785 |
) |
|
(23,724 |
) |
|
(13,637 |
) |
|
(53,853 |
) |
|
(621,799 |
) |
Net |
443,598 |
|
|
188,224 |
|
|
70,614 |
|
|
39,441 |
|
|
70,154 |
|
|
812,031 |
|
Gross carrying amount: |
|
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
19,095 |
|
|
22,635 |
|
|
— |
|
|
12,707 |
|
|
6,620 |
|
|
61,057 |
|
Acquisitions—prior year |
(6,724 |
) |
|
— |
|
|
35,464 |
|
|
1,120 |
|
|
— |
|
|
29,860 |
|
Foreign exchange |
23,308 |
|
|
10,457 |
|
|
1,429 |
|
|
2,278 |
|
|
4,857 |
|
|
42,329 |
|
Other (2)
|
(6,714 |
) |
|
(93,652 |
) |
|
(4,900 |
) |
|
(5,517 |
) |
|
(253 |
) |
|
(111,036 |
) |
Net change |
28,965 |
|
|
(60,560 |
) |
|
31,993 |
|
|
10,588 |
|
|
11,224 |
|
|
22,210 |
|
Accumulated amortization: |
|
|
|
|
|
|
|
|
|
|
Amortization |
(94,797 |
) |
|
(61,550 |
) |
|
(13,315 |
) |
|
(13,869 |
) |
|
(19,035 |
) |
|
(202,566 |
) |
Foreign exchange |
(9,918 |
) |
|
(4,460 |
) |
|
(560 |
) |
|
(764 |
) |
|
(2,463 |
) |
|
(18,165 |
) |
Other (2)
|
11,504 |
|
|
93,438 |
|
|
4,918 |
|
|
5,525 |
|
|
370 |
|
|
115,755 |
|
Net change |
(93,211 |
) |
|
27,428 |
|
|
(8,957 |
) |
|
(9,108 |
) |
|
(21,128 |
) |
|
(104,976 |
) |
Balance as of December 31, 2017: |
|
|
|
|
|
|
|
|
Gross carrying amount |
789,363 |
|
|
341,449 |
|
|
126,331 |
|
|
63,666 |
|
|
135,231 |
|
|
1,456,040 |
|
Accumulated amortization |
(410,011 |
) |
|
(186,357 |
) |
|
(32,681 |
) |
|
(22,745 |
) |
|
(74,981 |
) |
|
(726,775 |
) |
Net |
$ |
379,352 |
|
|
$ |
155,092 |
|
|
$ |
93,650 |
|
|
$ |
40,921 |
|
|
$ |
60,250 |
|
|
$ |
729,265 |
|
___________________
(1) Other includes non-compete agreements of $31.6 million and $43.9 million at December 31, 2017 and 2016, respectively, and venue management and leaseholds of $27.2 million and $24.3 million at December 31, 2017 and 2016, respectively.
(2) Other includes netdowns of fully amortized or impaired assets.
|
| 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, 2017 and 2016:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Concerts |
|
Sponsorship
& Advertising
|
|
Ticketing |
|
Total |
|
(in thousands) |
Balance as of December 31, 2015: |
|
|
|
|
|
|
|
Goodwill |
$ |
943,272 |
|
|
$ |
332,081 |
|
|
$ |
733,825 |
|
|
$ |
2,009,178 |
|
Accumulated impairment losses |
(404,863 |
) |
|
— |
|
|
— |
|
|
(404,863 |
) |
Net |
538,409 |
|
|
332,081 |
|
|
733,825 |
|
|
1,604,315 |
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
123,952 |
|
|
45,376 |
|
|
8,671 |
|
|
177,999 |
|
Acquisitions—prior year |
(18,457 |
) |
|
18,302 |
|
|
(108 |
) |
|
(263 |
) |
Dispositions |
(323 |
) |
|
— |
|
|
— |
|
|
(323 |
) |
Foreign exchange |
(31,424 |
) |
|
67 |
|
|
(3,283 |
) |
|
(34,640 |
) |
|
|
|
|
|
|
|
|
Balance as of December 31, 2016: |
|
|
|
|
|
|
|
Goodwill |
1,017,020 |
|
|
395,826 |
|
|
739,105 |
|
|
2,151,951 |
|
Accumulated impairment losses |
(404,863 |
) |
|
— |
|
|
— |
|
|
(404,863 |
) |
Net |
612,157 |
|
|
395,826 |
|
|
739,105 |
|
|
1,747,088 |
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
10,265 |
|
|
5,438 |
|
|
11,139 |
|
|
26,842 |
|
Acquisitions—prior year |
(21,614 |
) |
|
(9,822 |
) |
|
882 |
|
|
(30,554 |
) |
Impairment |
(20,000 |
) |
|
— |
|
|
— |
|
|
(20,000 |
) |
Foreign exchange |
10,242 |
|
|
10,311 |
|
|
10,660 |
|
|
31,213 |
|
|
|
|
|
|
|
|
|
Balance as of December 31, 2017: |
|
|
|
|
|
|
Goodwill |
1,015,913 |
|
|
401,753 |
|
|
761,786 |
|
|
2,179,452 |
|
Accumulated impairment losses |
(424,863 |
) |
|
— |
|
|
— |
|
|
(424,863 |
) |
Net |
$ |
591,050 |
|
|
$ |
401,753 |
|
|
$ |
761,786 |
|
|
$ |
1,754,589 |
|
|