| 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 three months ended March 31, 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue-
generating
contracts
|
|
Client /
vendor
relationships
|
|
Trademarks
and
naming
rights
|
|
Non-compete
agreements
|
|
Technology |
|
Venue
management
and
leaseholds
|
|
Other |
|
Total |
|
(in thousands) |
Balance as of December 31, 2016: |
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount |
$ |
760,398 |
|
|
$ |
402,009 |
|
|
$ |
94,338 |
|
|
$ |
65,992 |
|
|
$ |
53,078 |
|
|
$ |
54,001 |
|
|
$ |
4,014 |
|
|
$ |
1,433,830 |
|
Accumulated amortization |
(316,800 |
) |
|
(213,785 |
) |
|
(23,724 |
) |
|
(22,099 |
) |
|
(13,637 |
) |
|
(29,664 |
) |
|
(2,090 |
) |
|
(621,799 |
) |
Net |
443,598 |
|
|
188,224 |
|
|
70,614 |
|
|
43,893 |
|
|
39,441 |
|
|
24,337 |
|
|
1,924 |
|
|
812,031 |
|
Gross carrying amount: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisitions— current year |
— |
|
|
11,856 |
|
|
— |
|
|
— |
|
|
41 |
|
|
— |
|
|
— |
|
|
11,897 |
|
Acquisitions— prior year |
4,703 |
|
|
— |
|
|
30,789 |
|
|
— |
|
|
527 |
|
|
— |
|
|
— |
|
|
36,019 |
|
Foreign exchange |
4,468 |
|
|
2,974 |
|
|
360 |
|
|
298 |
|
|
260 |
|
|
343 |
|
|
12 |
|
|
8,715 |
|
Other(1)
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(41 |
) |
|
— |
|
|
(250 |
) |
|
(291 |
) |
Net change |
9,171 |
|
|
14,830 |
|
|
31,149 |
|
|
298 |
|
|
787 |
|
|
343 |
|
|
(238 |
) |
|
56,340 |
|
Accumulated amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization |
(19,622 |
) |
|
(14,565 |
) |
|
(3,230 |
) |
|
(3,336 |
) |
|
(2,514 |
) |
|
(1,146 |
) |
|
(207 |
) |
|
(44,620 |
) |
Foreign exchange |
(1,344 |
) |
|
(1,565 |
) |
|
(61 |
) |
|
(115 |
) |
|
(64 |
) |
|
(165 |
) |
|
(1 |
) |
|
(3,315 |
) |
Other(1)
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
41 |
|
|
— |
|
|
250 |
|
|
291 |
|
Net change |
(20,966 |
) |
|
(16,130 |
) |
|
(3,291 |
) |
|
(3,451 |
) |
|
(2,537 |
) |
|
(1,311 |
) |
|
42 |
|
|
(47,644 |
) |
Balance as of March 31, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
Gross carrying amount |
769,569 |
|
|
416,839 |
|
|
125,487 |
|
|
66,290 |
|
|
53,865 |
|
|
54,344 |
|
|
3,776 |
|
|
1,490,170 |
|
Accumulated amortization |
(337,766 |
) |
|
(229,915 |
) |
|
(27,015 |
) |
|
(25,550 |
) |
|
(16,174 |
) |
|
(30,975 |
) |
|
(2,048 |
) |
|
(669,443 |
) |
Net |
$ |
431,803 |
|
|
$ |
186,924 |
|
|
$ |
98,472 |
|
|
$ |
40,740 |
|
|
$ |
37,691 |
|
|
$ |
23,369 |
|
|
$ |
1,728 |
|
|
$ |
820,727 |
|
______________
(1) Other includes netdowns of fully amortized assets.
|
| 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 three months ended March 31, 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Concerts |
|
Sponsorship
& Advertising
|
|
Ticketing |
|
Total |
|
(in thousands) |
Balance as of December 31, 2016: |
|
|
|
|
|
|
|
Goodwill |
$ |
1,017,020 |
|
|
$ |
395,826 |
|
|
$ |
739,105 |
|
|
$ |
2,151,951 |
|
Accumulated impairment losses |
(404,863 |
) |
|
— |
|
|
— |
|
|
(404,863 |
) |
Net |
612,157 |
|
|
395,826 |
|
|
739,105 |
|
|
1,747,088 |
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
5,430 |
|
|
— |
|
|
3,318 |
|
|
8,748 |
|
Acquisitions—prior year |
(29,195 |
) |
|
(8,976 |
) |
|
882 |
|
|
(37,289 |
) |
Foreign exchange |
2,875 |
|
|
1,538 |
|
|
1,153 |
|
|
5,566 |
|
|
|
|
|
|
|
|
|
Balance as of March 31, 2017: |
|
|
|
|
|
|
|
Goodwill |
996,130 |
|
|
388,388 |
|
|
744,458 |
|
|
2,128,976 |
|
Accumulated impairment losses |
(404,863 |
) |
|
— |
|
|
— |
|
|
(404,863 |
) |
Net |
$ |
591,267 |
|
|
$ |
388,388 |
|
|
$ |
744,458 |
|
|
$ |
1,724,113 |
|
|