Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENT OF OPERATIONS

v3.25.4
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenues $ 25,201,406 $ 23,155,625 $ 22,726,317
Operating expenses:      
Direct operating expenses 18,763,356 17,380,866 17,290,718
Selling, general and administrative expenses 4,091,759 4,043,712 3,516,979
Depreciation and amortization 638,872 549,923 516,797
Gain (Loss) on Disposition of Other Assets 18,528 11,015 13,927
Corporate expenses 474,730 367,629 330,817
Operating income 1,251,217 824,510 1,084,933
Interest expense 316,033 325,974 350,244
Loss on extinguishment of debt 780 2,563 18,504
Interest income (150,445) (156,254) (237,818)
Equity in losses (earnings) of nonconsolidated affiliates (3,206) 16,675 5,455
Other expense (income), net 57,528 (103,874) 35,274
Income before income taxes 1,030,527 739,426 913,274
Income Tax Expense (Benefit) 339,787 (391,698) 209,476
Net income 690,740 1,131,124 703,798
Net income attributable to noncontrolling interests 194,768 234,837 146,905
Net income attributable to common stockholders of Live Nation $ 495,972 $ 896,287 $ 556,893
Earnings Per Share, Basic $ (0.24) $ 2.77 $ 1.35
Earnings Per Share, Diluted $ (0.24) $ 2.74 $ 1.34
Weighted average common shares outstanding:      
Weighted average common shares—basic 231,844,300 230,124,255 228,628,390
Weighted average common shares—diluted 231,844,300 236,352,449 230,977,326
Reconciliation to net income (loss) available to common stockholders of Live Nation:      
Net income attributable to common stockholders of Live Nation $ 495,972 $ 896,287 $ 556,893
Accretion of redeemable noncontrolling interests (550,801) (258,076) (247,438)
Net income (loss) available to common stockholders of Live Nation—basic (54,829) 638,211 309,455
Convertible debt interest, net of tax 0 9,187 0
Net income (loss) available to common stockholders of Live Nation—diluted $ (54,829) $ 647,398 $ 309,455