Annual report pursuant to Section 13 and 15(d)

LONG-LIVED ASSETS (Tables)

v2.4.0.8
LONG-LIVED ASSETS (Tables)
 12 Months Ended
Dec. 31, 2013
LONG-LIVED ASSETS [Abstract]  
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, 2013 and 2012:
 
Revenue-
generating
contracts
 
Client /
vendor
relationships
 
Non-compete
agreements
 
Venue
management
and
leaseholds
 
Technology
 
Trademarks
and
naming
rights
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2011:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
$
542,426

 
$
330,575

 
$
171,765

 
$
116,772

 
$
103,337

 
$
24,517

 
$
6,426

 
$
1,295,818

Accumulated amortization
(170,889
)
 
(66,548
)
 
(93,464
)
 
(39,017
)
 
(31,812
)
 
(16,202
)
 
(4,174
)
 
(422,106
)
Net
371,537

 
264,027

 
78,301

 
77,755

 
71,525

 
8,315

 
2,252

 
873,712

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
23,428

 
58,662

 
3,000

 
—

 
1,564

 
5,764

 
—

 
92,418

Acquisitions— prior year
—

 
14,194

 
—

 
—

 
(3,900
)
 
—

 
—

 
10,294

Foreign exchange
5,443

 
(428
)
 
98

 
1,487

 
423

 
498

 
26

 
7,547

Other (1)
(56,226
)
 
(141,348
)
 
(6,445
)
 
—

 
—

 
(12,356
)
 
—

 
(216,375
)
Net change
(27,355
)
 
(68,920
)
 
(3,347
)
 
1,487

 
(1,913
)
 
(6,094
)
 
26

 
(106,116
)
Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(80,220
)
 
(114,611
)
 
(25,276
)
 
(12,482
)
 
(21,244
)
 
(2,620
)
 
(459
)
 
(256,912
)
Foreign exchange
(2,748
)
 
4

 
(77
)
 
(392
)
 
(239
)
 
(211
)
 
(17
)
 
(3,680
)
Other (1)
56,308

 
141,348

 
7,448

 
—

 
—

 
12,355

 
—

 
217,459

Net change
(26,660
)
 
26,741

 
(17,905
)
 
(12,874
)
 
(21,483
)
 
9,524

 
(476
)
 
(43,133
)
Balance as of December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
515,071

 
261,655

 
168,418

 
118,259

 
101,424

 
18,423

 
6,452

 
1,189,702

Accumulated amortization
(197,549
)
 
(39,807
)
 
(111,369
)
 
(51,891
)
 
(53,295
)
 
(6,678
)
 
(4,650
)
 
(465,239
)
Net
317,522

 
221,848

 
57,049

 
66,368

 
48,129

 
11,745

 
1,802

 
724,463

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
85,927

 
31,582

 
—

 
—

 
3,370

 
10,500

 
—

 
131,379

Acquisitions— prior year
(1,028
)
 
(2,833
)
 
—

 
—

 
—

 
—

 
—

 
(3,861
)
Dispositions
—

 
(1,354
)
 
—

 
—

 
—

 
—

 
—

 
(1,354
)
Foreign exchange
2,476

 
(6,525
)
 
98

 
(17
)
 
826

 
376

 
(34
)
 
(2,800
)
Other (1)
(17,352
)
 
(4,588
)
 
(31,317
)
 
(32,600
)
 
(4,956
)
 
(775
)
 
(4,043
)
 
(95,631
)
Net change
70,023

 
16,282

 
(31,219
)
 
(32,617
)
 
(760
)
 
10,101

 
(4,077
)
 
27,733

Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(49,972
)
 
(47,918
)
 
(21,984
)
 
(24,615
)
 
(24,116
)
 
(4,160
)
 
(416
)
 
(173,181
)
Dispositions
—

 
61

 
—

 
—

 
—

 
—

 
—

 
61

Foreign exchange
(884
)
 
1,412

 
(92
)
 
219

 
(655
)
 
(209
)
 
31

 
(178
)
Other (1)
17,352

 
4,443

 
32,317

 
32,600

 
4,956

 
1,955

 
4,043

 
97,666

Net change
(33,504
)
 
(42,002
)
 
10,241

 
8,204

 
(19,815
)
 
(2,414
)
 
3,658

 
(75,632
)
Balance as of December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
585,094

 
277,937

 
137,199

 
85,642

 
100,664

 
28,524

 
2,375

 
1,217,435

Accumulated amortization
(231,053
)
 
(81,809
)
 
(101,128
)
 
(43,687
)
 
(73,110
)
 
(9,092
)
 
(992
)
 
(540,871
)
Net
$
354,041

 
$
196,128

 
$
36,071

 
$
41,955

 
$
27,554

 
$
19,432

 
$
1,383

 
$
676,564

_________
(1) 
Other includes netdowns of fully amortized or impaired assets and for 2013 a reclassification from indefinite-lived intangible assets due to a change in the asset’s estimated useful life.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2013 and 2012 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
  
Weighted-
Average
Life (years)
 
2013
 
2012
 
 
 
 
Revenue-generating contracts
9

 
11
Client/vendor relationships
8

 
9
Non-compete agreements
—

 
3
Technology
5

 
6
Trademarks and naming rights
10

 
10
All categories
9

 
9
Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets
The following table presents the Company’s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at December 31, 2013:
 
 
(in thousands)
2014
$
135,109

2015
$
116,995

2016
$
103,347

2017
$
86,391

2018
$
69,981

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, 2013 and 2012:
 
Concerts
 
Ticketing
 
Artist
Nation
 
Sponsorship
&  Advertising
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2011:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
387,188

 
$
633,852

 
$
262,158

 
$
244,348

 
$
13,037

 
$
1,540,583

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(13,037
)
 
(282,939
)
                 Net
117,286

 
633,852

 
262,158

 
244,348

 
—

 
1,257,644

 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
71,942

 
—

 
—

 
—

 
—

 
71,942

Acquisitions—prior year
—

 
2,380

 
4,542

 
—

 
—

 
6,922

Foreign exchange
9,761

 
1,410

 
120

 
10,028

 
—

 
21,319

 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
Goodwill
468,891

 
637,642

 
266,820

 
254,376

 
13,037

 
1,640,766

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(13,037
)
 
(282,939
)
                 Net
198,989

 
637,642

 
266,820

 
254,376

 
—

 
1,357,827

 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
42,826

 
1,715

 
3,253

 
49,748

 
—

 
97,542

Acquisitions—prior year
(2,811
)
 
—

 
9,203

 
—

 
—

 
6,392

Dispositions
(3,691
)
 
—

 
(251
)
 
—

 
—

 
(3,942
)
Foreign exchange
257

 
2,892

 
(102
)
 
6,117

 
—

 
9,164

 
 
 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2013:
 
 
 
 
 
 
 
 
 
 
Goodwill
505,472

 
642,249

 
278,923

 
310,241

 
13,037

 
1,749,922

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(13,037
)
 
(282,939
)
                 Net
$
235,570

 
$
642,249

 
$
278,923

 
$
310,241

 
$
—

 
$
1,466,983

Investments in Nonconsolidated Affiliates
Summarized balance sheet and income statement information for the Company’s significant nonconsolidated affiliates is as follows (at 100%):
 
 
December 31,
 
 
2013
 
2012
 
 
(in thousands)
Current assets
 
$
41,083

 
$
58,594

Noncurrent assets
 
$
12,357

 
$
7,642

Current liabilities
 
$
22,167

 
$
33,319

Noncurrent liabilities
 
$
195

 
$
61

Noncontrolling interests
 
$
296

 
$
238

 
 
Year Ended December 31,
 
 
2013
 
2012
 
2011
 
 
(in thousands)
 Revenue
 
$
79,264

 
$
66,180

 
$
64,492

Operating income
 
$
33,151

 
$
31,973

 
$
29,658

 Net income
 
$
26,150

 
$
24,839

 
$
22,729

Net income attributable to the common stockholders of the equity investees
 
$
26,088

 
$
24,808

 
$
22,729

Asset and Liability Values at the Time of Disposal and the Resulting Gain or Loss Recorded
The table below summarizes the asset and liability values at the time of sale for significant disposals and the resulting gain or loss recorded.
Divested Asset
 
Segment
 
Loss (Gain) on
Disposal of
Operating
Assets
 
Current
Assets
 
Noncurrent
Assets
 
Current
Liabilities
 
Noncurrent
Liabilities
 
 
(in thousands)
2013 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
New York theater
 
Concerts
 
$
(24,845
)
 
$
—

 
$
35,785

 
$
—

 
$
3,636

2012 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
Ohio amphitheater
 
Concerts
 
$
(444
)
 
$
—

 
$
5,400

 
$
444

 
$
—

2011 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
Texas amphitheater
 
Concerts
 
$
798

 
$
—

 
$
3,206

 
$
—

 
$
—

Artist management company
 
Artist Nation
 
$
(1,264
)
 
$
3

 
$
4,153

 
$
119

 
$
—