| 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, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue-
generating
contracts
|
|
Client /
vendor
relationships
|
|
Trademarks
and
naming
rights |
|
Technology |
|
Other (1)
|
|
Total |
|
(in thousands) |
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 |
|
Gross carrying amount: |
|
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
6,128 |
|
|
84,146 |
|
|
2,067 |
|
|
30,029 |
|
|
15,402 |
|
|
137,772 |
|
Acquisitions—prior year |
4,447 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,900 |
|
|
6,347 |
|
Dispositions |
— |
|
|
(11,812 |
) |
|
— |
|
|
— |
|
|
(18,754 |
) |
|
(30,566 |
) |
Foreign exchange |
(14,426 |
) |
|
(7,378 |
) |
|
(1,756 |
) |
|
(1,626 |
) |
|
(3,209 |
) |
|
(28,395 |
) |
Other (2)
|
(92,549 |
) |
|
(12,633 |
) |
|
(2,935 |
) |
|
(6,658 |
) |
|
(10,407 |
) |
|
(125,182 |
) |
Net change |
(96,400 |
) |
|
52,323 |
|
|
(2,624 |
) |
|
21,745 |
|
|
(15,068 |
) |
|
(40,024 |
) |
Accumulated amortization: |
|
|
|
|
|
|
|
|
|
|
Amortization |
(81,291 |
) |
|
(52,879 |
) |
|
(12,633 |
) |
|
(23,727 |
) |
|
(20,123 |
) |
|
(190,653 |
) |
Dispositions |
— |
|
|
8,146 |
|
|
— |
|
|
— |
|
|
13,238 |
|
|
21,384 |
|
Foreign exchange |
7,526 |
|
|
4,813 |
|
|
536 |
|
|
973 |
|
|
1,979 |
|
|
15,827 |
|
Other (2)
|
92,774 |
|
|
12,678 |
|
|
2,970 |
|
|
6,673 |
|
|
10,557 |
|
|
125,652 |
|
Net change |
19,009 |
|
|
(27,242 |
) |
|
(9,127 |
) |
|
(16,081 |
) |
|
5,651 |
|
|
(27,790 |
) |
Balance as of December 31, 2018: |
|
|
|
|
|
|
|
|
Gross carrying amount |
692,963 |
|
|
393,772 |
|
|
123,707 |
|
|
85,411 |
|
|
120,163 |
|
|
1,416,016 |
|
Accumulated amortization |
(391,002 |
) |
|
(213,599 |
) |
|
(41,808 |
) |
|
(38,826 |
) |
|
(69,330 |
) |
|
(754,565 |
) |
Net |
$ |
301,961 |
|
|
$ |
180,173 |
|
|
$ |
81,899 |
|
|
$ |
46,585 |
|
|
$ |
50,833 |
|
|
$ |
661,451 |
|
___________________
(1) Other primarily includes intangible assets for non-compete, venue management and leasehold agreements.
(2) Other primarily 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, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Concerts |
|
Sponsorship
& Advertising
|
|
Ticketing |
|
Total |
|
(in thousands) |
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 |
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
42,841 |
|
|
3,902 |
|
|
5,875 |
|
|
52,618 |
|
Acquisitions—prior year |
53,541 |
|
|
1,697 |
|
|
— |
|
|
55,238 |
|
Dispositions |
(7,053 |
) |
|
— |
|
|
— |
|
|
(7,053 |
) |
Impairment |
(10,500 |
) |
|
— |
|
|
— |
|
|
(10,500 |
) |
Foreign exchange |
(10,638 |
) |
|
(6,603 |
) |
|
(4,708 |
) |
|
(21,949 |
) |
|
|
|
|
|
|
|
|
Balance as of December 31, 2018: |
|
|
|
|
|
|
Goodwill |
1,094,604 |
|
|
400,749 |
|
|
762,953 |
|
|
2,258,306 |
|
Accumulated impairment losses |
(435,363 |
) |
|
— |
|
|
— |
|
|
(435,363 |
) |
Net |
$ |
659,241 |
|
|
$ |
400,749 |
|
|
$ |
762,953 |
|
|
$ |
1,822,943 |
|
|