Annual report pursuant to Section 13 and 15(d)

QUARTERLY RESULTS OF OPERATIONS (Unaudited) (Tables)

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QUARTERLY RESULTS OF OPERATIONS (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2011
QUARTERLY RESULTS OF OPERATIONS [Abstract]  
Quarterly Results of Operations
 
   
March 31,
   
June 30,
   
September 30,
   
December 31,
 
   
2011
   
2010
   
2011
   
2010
   
2011
   
2010
   
2011
   
2010
 
   
(in thousands)
 
Revenue
  $ 849,409     $ 723,361     $ 1,558,882     $ 1,266,735     $ 1,790,025     $ 1,835,806     $ 1,185,682     $ 1,237,846  
Operating expenses:
                                                               
Direct operating expenses
    547,124       484,756       1,138,151       896,283       1,286,304       1,388,295       817,909       888,976  
Selling, general and administrative expenses
    272,969       231,596       266,795       252,899       282,462       244,694       289,743       285,302  
Depreciation and amortization
    77,481       62,633       76,927       64,308       83,341       70,249       105,269       124,476  
Loss (gain) on sale of operating assets
    1,295       4,571       (660 )     (637 )     231       (779 )     112       (2,781 )
Corporate expenses
    21,036       37,124       24,590       21,882       27,385       27,660       39,146       23,586  
Acquisition transaction expenses
    1,665       9,017       706       6,394       5,493       2,581       187       4,363  
Operating income (loss)
    (72,161 )     (106,336 )     52,373       25,606       104,809       103,106       (66,684 )     (86,076 )
Interest expense
    29,229       26,561       30,845       29,932       30,388       29,280       29,952       30,754  
Loss on extinguishment of debt
    -       -       -       21,172       -       -       -       143  
Interest income
    (527 )     (643 )     (1,298 )     (791 )     (1,023 )     (709 )     (1,367 )     (1,628 )
Equity in earnings of nonconsolidated affiliates
    (994 )     (547 )     (1,778 )     (1,708 )     (2,777 )     (629 )     (2,193 )     (2,044 )
Other expense (income) - net
    (585 )     (1,068 )     1,331       (565 )     6,461       (212 )     (700 )     (2,344 )
Income (loss) from continuing operations before income taxes
    (99,284 )     (130,639 )     23,273       (22,434 )     71,760       75,376       (92,376 )     (110,957 )
Income tax expense (benefit)
    (44,942 )     (7,991 )     6,659       8,408       8,739       10,338       3,320       4,399  
Income (loss) from continuing operations
    (54,342 )     (122,648 )     16,614       (30,842 )     63,021       65,038       (95,696 )     (115,356 )
Loss from discontinued operations, net of tax
    -       (303 )     -       (377 )     -       (3,213 )     -       (335 )
Net income (loss)
    (54,342 )     (122,951 )     16,614       (31,219 )     63,021       61,825       (95,696 )     (115,691 )
Net income (loss) attributable to noncontrolling interests
    (5,882 )     (738 )     3,357       1,568       11,309       10,818       3,829       8,706  
                                                                 
Net income (loss) attributable to Live Nation Entertainment, Inc.
  $ (48,460 )   $ (122,213 )   $ 13,257     $ (32,787 )   $ 51,712     $ 51,007     $ (99,525 )   $ (124,397 )
                                                                 
Basic and diluted net income (loss) per common share attributable to common stockholders:
                                                               
Income (loss) from continuing operations attributable to Live Nation Entertainment, Inc.
  $ (0.27 )   $ (0.83 )   $ 0.07     $ (0.19 )   $ 0.28     $ 0.32     $ (0.53 )   $ (0.72 )
Loss from discontinued operations attributable to Live Nation Entertainment, Inc.
    -       -       -       -       -       (0.02 )     -       -  
Net income (loss) attributable to Live Nation Entertainment, Inc.
  $ (0.27 )   $ (0.83 )   $ 0.07     $ (0.19 )   $ 0.28     $ 0.30     $ (0.53 )   $ (0.72 )