Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Revenue $ 3,559,418 $ 3,170,416 $ 7,791,292 $ 6,557,390
Operating expenses:        
Direct operating expenses 2,732,926 2,428,003 5,801,300 4,817,894
Selling, general and administrative expenses 475,864 414,412 1,293,557 1,126,452
Depreciation and amortization 109,352 104,862 305,817 295,241
Loss (gain) on disposal of operating assets 37 253 (507) (1)
Corporate expenses 39,892 31,600 97,711 85,649
Operating income (loss) 201,347 191,286 293,414 232,155
Interest expense 26,627 25,249 80,564 75,965
Interest income (1,471) (625) (3,447) (1,831)
Equity in losses (earnings) of nonconsolidated affiliates 816 17,471 (2,060) 17,184
Other expense (income), net 920 2,606 (5,388) 1,412
Income before income taxes 174,455 146,585 223,745 139,425
Income tax expense 25,685 13,824 42,190 26,157
Net income 148,770 132,761 181,555 113,268
Net income (loss) attributable to noncontrolling interests 12,377 21,682 (3,323) 8,966
Net income attributable to common stockholders of Live Nation $ 136,393 $ 111,079 $ 184,878 $ 104,302
Basic net income per common share available to common stockholders of Live Nation $ 0.56 $ 0.51 $ 0.65 $ 0.35
Diluted net income per common share available to common stockholders of Live Nation $ 0.53 $ 0.49 $ 0.62 $ 0.34
Weighted average common shares outstanding:        
Basic (in shares) 205,287,843 202,118,412 204,574,742 201,904,305
Diluted (in shares) 223,132,186 217,690,217 213,886,452 208,855,401
Reconciliation to net income available to common stockholders of Live Nation:        
Net income attributable to common stockholders of Live Nation $ 136,393 $ 111,079 $ 184,878 $ 104,302
Accretion of redeemable noncontrolling interests (21,397) (8,576) (52,811) (33,204)
Net income available to common stockholders of Live Nation—basic 114,996 102,503 132,067 71,098
Convertible debt interest, net of tax 3,336 3,274 0 0
Net income available to common stockholders of Live Nation—diluted $ 118,332 $ 105,777 $ 132,067 $ 71,098