| Results of Operations Related to Reportable Segments of the Entity |
The following table presents the results of operations for the Company’s reportable segments for the three months ended March 31, 2016 and 2015:
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Concerts |
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Sponsorship
& Advertising |
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Ticketing |
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Artist
Nation |
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Other |
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Corporate |
|
Eliminations |
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Consolidated |
|
(in thousands) |
Three Months Ended March 31, 2016 |
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Revenue |
$ |
681,078 |
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|
$ |
57,636 |
|
|
$ |
405,786 |
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|
$ |
75,065 |
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|
$ |
841 |
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|
$ |
— |
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|
$ |
(12,690 |
) |
|
$ |
1,207,716 |
|
Direct operating expenses |
537,134 |
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|
13,514 |
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|
206,465 |
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|
39,211 |
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|
— |
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|
— |
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|
(12,121 |
) |
|
784,203 |
|
Selling, general and administrative expenses |
160,698 |
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|
13,869 |
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|
118,233 |
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|
40,778 |
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|
2,603 |
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|
— |
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|
— |
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|
336,181 |
|
Depreciation and amortization |
31,447 |
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|
4,906 |
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|
45,749 |
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|
12,480 |
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|
20 |
|
|
922 |
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|
(569 |
) |
|
94,955 |
|
Loss (gain) on disposal of operating assets |
(34 |
) |
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— |
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— |
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— |
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— |
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|
59 |
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|
— |
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|
25 |
|
Corporate expenses |
— |
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|
— |
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|
— |
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|
— |
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|
— |
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|
24,506 |
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|
— |
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|
24,506 |
|
Acquisition transaction expenses |
942 |
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— |
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|
29 |
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|
62 |
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— |
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|
103 |
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|
— |
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|
1,136 |
|
Operating income (loss) |
$ |
(49,109 |
) |
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$ |
25,347 |
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|
$ |
35,310 |
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|
$ |
(17,466 |
) |
|
$ |
(1,782 |
) |
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$ |
(25,590 |
) |
|
$ |
— |
|
|
$ |
(33,290 |
) |
Intersegment revenue |
$ |
11,447 |
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|
$ |
1,003 |
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|
$ |
— |
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|
$ |
240 |
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|
$ |
— |
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$ |
— |
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|
$ |
(12,690 |
) |
|
$ |
— |
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Capital expenditures |
$ |
5,843 |
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|
$ |
318 |
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$ |
16,259 |
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$ |
329 |
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$ |
20 |
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$ |
1,757 |
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$ |
— |
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$ |
24,526 |
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Three Months Ended March 31, 2015 |
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Revenue |
$ |
623,234 |
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$ |
52,097 |
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$ |
375,630 |
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$ |
77,945 |
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$ |
793 |
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$ |
— |
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|
$ |
(9,387 |
) |
|
$ |
1,120,312 |
|
Direct operating expenses |
485,972 |
|
|
10,628 |
|
|
185,692 |
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|
46,830 |
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|
1,068 |
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|
— |
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|
(8,901 |
) |
|
721,289 |
|
Selling, general and administrative expenses |
150,990 |
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|
13,094 |
|
|
112,413 |
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|
37,214 |
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|
834 |
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|
— |
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— |
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|
314,545 |
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Depreciation and amortization |
29,181 |
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|
1,988 |
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|
43,296 |
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|
10,035 |
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|
11 |
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|
516 |
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(486 |
) |
|
84,541 |
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Loss (gain) on disposal of operating assets |
226 |
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|
— |
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|
(149 |
) |
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— |
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|
— |
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|
(38 |
) |
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— |
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|
39 |
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Corporate expenses |
— |
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— |
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— |
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— |
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— |
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|
24,360 |
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— |
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|
24,360 |
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Acquisition transaction expenses |
(566 |
) |
|
— |
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|
147 |
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|
6 |
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— |
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|
(114 |
) |
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— |
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|
(527 |
) |
Operating income (loss) |
$ |
(42,569 |
) |
|
$ |
26,387 |
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$ |
34,231 |
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$ |
(16,140 |
) |
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$ |
(1,120 |
) |
|
$ |
(24,724 |
) |
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$ |
— |
|
|
$ |
(23,935 |
) |
Intersegment revenue |
$ |
8,739 |
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$ |
— |
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$ |
— |
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$ |
648 |
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$ |
— |
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$ |
— |
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|
$ |
(9,387 |
) |
|
$ |
— |
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Capital expenditures |
$ |
4,927 |
|
|
$ |
5 |
|
|
$ |
19,874 |
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|
$ |
762 |
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|
$ |
— |
|
|
$ |
229 |
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|
$ |
— |
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|
$ |
25,797 |
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