Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (Unaudited)

v3.10.0.1
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
 
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
 
 
(in thousands)
Revenue
 
$
1,482,384

 
$
1,242,879

 
$
2,868,315

 
$
2,683,585

 
$
3,835,246

 
$
3,440,308

 
$
2,601,855

 
$
2,320,450

Operating income (loss)
 
$
(6,030
)
 
$
(21,366
)
 
$
134,725

 
$
113,433

 
$
234,219

 
$
201,347

 
$
(90,378
)
 
$
(202,017
)
Net income (loss)
 
$
(41,028
)
 
$
(47,770
)
 
$
83,356

 
$
80,555

 
$
183,197

 
$
148,770

 
$
(135,185
)
 
$
(173,781
)
Net income (loss) attributable to common stockholders of Live Nation
 
$
(33,906
)
 
$
(32,993
)
 
$
69,359

 
$
81,478

 
$
172,683

 
$
136,393

 
$
(147,887
)
 
$
(190,893
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic net income (loss) available to common stockholders of Live Nation
 
$
(50,291
)
 
$
(45,570
)
 
$
52,187

 
$
62,641

 
$
151,894

 
$
114,996

 
$
(171,441
)
 
$
(229,713
)
Diluted net income (loss) available to common stockholders of Live Nation
 
$
(50,291
)
 
$
(45,570
)
 
$
52,187

 
$
62,641

 
$
152,213

 
$
118,332

 
$
(171,441
)
 
$
(229,713
)
Basic net income (loss) per common share available to common stockholders of Live Nation
 
$
(0.24
)
 
$
(0.22
)
 
$
0.25

 
$
0.31

 
$
0.73

 
$
0.56

 
$
(0.82
)
 
$
(1.12
)
Diluted net income (loss) per common share available to common stockholders of Live Nation
 
$
(0.24
)
 
$
(0.22
)
 
$
0.24

 
$
0.29

 
$
0.70

 
$
0.53

 
$
(0.82
)
 
$
(1.12
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


The following summarizes unusual or infrequent items affecting the quarterly results of operations:
2018
The Company recorded a goodwill impairment of $10.5 million in the fourth quarter of 2018 in connection with its annual impairment test. See Note 2—Long-Lived Assets and Note 5—Fair Value Measurements for further discussion.
The Company recorded a net foreign exchange rate loss of $8.4 million in the second quarter of 2018, as a component of other expense (income), net.
2017
The Company accrued $110.0 million in the fourth quarter of 2017 in connection with a legal settlement entered into in January 2018.
The Company recorded a goodwill impairment of $20.0 million in the fourth quarter of 2017 in connection with its annual impairment test. See Note 2—Long-Lived Assets and Note 5—Fair Value Measurements for further discussion.
The Company recorded a $55.7 million income tax benefit in the fourth quarter of 2017 in connection with the 2017 tax reform changes. See Note 8—Income Taxes for further discussion.
The Company recorded net foreign exchange rate gains of $2.7 million and $4.4 million in the first and second quarters of 2017, respectively, and a net foreign exchange rate loss of $4.2 million in the fourth quarter of 2017, as a component of other expense (income), net.