Quarterly report pursuant to Section 13 or 15(d)

EQUITY

v3.3.0.814
EQUITY
9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
EQUITY
EQUITY
The following table shows the reconciliation of the carrying amount of stockholders’ equity attributable to Live Nation, equity attributable to noncontrolling interests, total equity and also redeemable noncontrolling interests for the nine months ended September 30, 2015:
 
Live Nation
Stockholders’ Equity
 
Noncontrolling
Interests
 
Total
Equity
 
Redeemable
Noncontrolling
Interests
 
(in thousands)
 
(in thousands)
Balance at December 31, 2014
$
1,296,954

 
$
186,893

 
$
1,483,847

 
$
168,855

Non-cash compensation expense
25,594

 

 
25,594

 

Common stock issued under stock plans, net of shares withheld for employee taxes
(7,652
)
 

 
(7,652
)
 

Exercise of stock options
14,685

 

 
14,685

 

Acquisitions

 
31,311

 
31,311

 
65,774

Purchases of noncontrolling interests
(4,818
)
 
(2,981
)
 
(7,799
)
 

Sales of noncontrolling interests
2,184

 

 
2,184

 
147

Redeemable noncontrolling interests fair value adjustments
(17,111
)
 

 
(17,111
)
 
17,111

Cash distributions

 
(12,199
)
 
(12,199
)
 
(1,635
)
Other

 
(2,113
)
 
(2,113
)
 
54

Comprehensive loss:
 
 
 
 

 
 
Net income (loss)
45,826

 
15,444

 
61,270

 
(3,202
)
Realized loss on cash flow hedges
25

 

 
25

 

Change in funded status of defined benefit pension plan
6

 

 
6

 

Foreign currency translation adjustments
(24,255
)
 

 
(24,255
)
 

Balance at September 30, 2015
$
1,331,438

 
$
216,355

 
$
1,547,793

 
$
247,104



Accumulated Other Comprehensive Loss
The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2015:
 
Gains and Losses On Cash Flow Hedges
 
Defined Benefit Pension Items
 
Foreign Currency Items
 
Total
 
(in thousands)
Balance at December 31, 2014
$
(25
)
 
$
(581
)
 
$
(69,404
)
 
$
(70,010
)
Other comprehensive income (loss) before reclassifications

 
6

 
(24,255
)
 
(24,249
)
Amount reclassified from AOCI
25

 

 

 
25

Net other comprehensive income (loss)
25

 
6

 
(24,255
)
 
(24,224
)
Balance at September 30, 2015
$

 
$
(575
)
 
$
(93,659
)
 
$
(94,234
)

The realized loss on cash flow hedges reclassified from AOCI consists of one interest rate swap agreement that expired on June 30, 2015.
Earnings Per Share
The following table sets forth the computation of weighted average common shares outstanding:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
 
Weighted average common shares—basic
201,392,591

 
199,261,810

 
200,776,477

 
198,612,221

Effect of dilutive securities:
 
 
 
 
 
 
 
        Stock options and restricted stock
7,346,189

 
7,340,484

 
7,717,174

 
7,621,353

        Convertible senior notes

 
14,979,289

 

 

Weighted average common shares—diluted
208,738,780

 
221,581,583

 
208,493,651

 
206,233,574


Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income (loss) per common share includes the effects of the assumed exercise of any outstanding stock options, the assumed vesting of shares of restricted stock awards and the assumed conversion of the convertible senior notes, where dilutive. The following table shows securities excluded from the calculation of diluted net income (loss) per common share because such securities are anti-dilutive:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Options to purchase shares of common stock
3,177

 
5,116

 
3,153

 
5,243

Restricted stock awards—unvested
165

 
313

 
165

 
344

Conversion shares related to the convertible senior notes
7,930

 

 
7,930

 
7,930

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding
11,272

 
5,429

 
11,248

 
13,517