Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2011
Dec. 31, 2010
Current assets    
Cash and cash equivalents $ 844,253 $ 892,758
Accounts receivable, less allowance of $16,986 in 2011 and $10,898 in 2010 389,346 329,947
Prepaid expenses 316,491 348,309
Other current assets 26,700 32,483
Total current assets 1,576,790 1,603,497
Property, plant and equipment    
Land, buildings and improvements 851,812 850,124
Computer equipment and capitalized software 261,475 218,294
Furniture and other equipment 172,250 168,508
Construction in progress 60,652 24,528
Property, plant and equipment, gross 1,346,189 1,261,454
Less accumulated depreciation 626,053 524,390
Property, plant and equipment, net 720,136 737,064
Intangible assets    
Definite-lived intangible assets, net 873,712 997,268
Indefinite-lived intangible assets 377,160 375,214
Goodwill 1,257,644 1,226,416
Investments in nonconsolidated affiliates 55,796 30,077
Other long-term assets 226,533 226,024
Total assets 5,087,771 5,195,560
Current liabilities    
Accounts payable, client accounts 473,956 462,301
Accounts payable 87,627 76,876
Accrued expenses 579,566 498,864
Deferred revenue 273,536 335,539
Current portion of long-term debt 52,632 54,150
Other current liabilities 25,236 46,491
Total current liabilities 1,492,553 1,474,221
Long-term debt, net 1,663,056 1,677,714
Long-term deferred income taxes 186,298 219,143
Other long-term liabilities 120,693 215,273
Commitments and contingent liabilities (Note 8)      
Redeemable noncontrolling interests 8,277 107,541
Stockholders' equity    
Preferred stock - Series A Junior Participating, $.01 par value; 20,000,000shares authorized; no shares issued and outstanding 0 0
Preferred stock, $.01 par value; 30,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, $.01 par value; 450,000,000 shares authorized; 189,536,279 and 175,418,857 shares issued and outstanding in2011 and 2010, respectively 1,868 1,724
Additional paid-in capital 2,243,587 2,053,233
Accumulated deficit (745,191) (662,175)
Cost of shares held in treasury (578,570 and 1,271,519 shares in 2011 and 2010, respectively) (2,787) (6,122)
Accumulated other comprehensive loss (36,374) (22,244)
Total Live Nation Entertainment, Inc. stockholders' equity 1,461,103 1,364,416
Noncontrolling interests 155,791 137,252
Total stockholders' equity 1,616,894 1,501,668
Total liabilities and stockholders' equity $ 5,087,771 $ 5,195,560