Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS Long-Lived Assets (Tables)

v3.19.2
LONG-LIVED ASSETS Long-Lived Assets (Tables)
 6 Months Ended
Jun. 30, 2019
LONG-LIVED ASSETS [Abstract]  
Changes in 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 six months ended June 30, 2019:
 
Revenue-
generating
contracts
 
Client /
vendor
relationships
 
Trademarks
and
naming
rights
 
Technology
 
Other (1)
 
Total
 
(in thousands)
Balance as of December 31, 2018:
 
 
 
 
 
 
 
 
Gross carrying amount
$
692,963

 
$
393,772

 
$
123,707

 
$
85,411

 
$
120,163

 
$
1,416,016

Accumulated amortization
(391,002
)
 
(213,599
)
 
(41,808
)
 
(38,826
)
 
(69,330
)
 
(754,565
)
Net
301,961

 
180,173

 
81,899

 
46,585

 
50,833

 
661,451

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
103,389

 
22,385

 
1,632

 
7,216

 
54,964

 
189,586

Acquisitions—prior year
—

 
—

 
—

 
—

 
43

 
43

Foreign exchange
(1,231
)
 
270

 
(140
)
 
300

 
158

 
(643
)
Other (2)
(19,709
)
 
(36,671
)
 
75

 
(1,999
)
 
(1,716
)
 
(60,020
)
Net change
82,449

 
(14,016
)
 
1,567

 
5,517

 
53,449

 
128,966

Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
Amortization
(36,466
)
 
(29,930
)
 
(6,758
)
 
(12,902
)
 
(10,667
)
 
(96,723
)
Foreign exchange
604

 
(234
)
 
108

 
(191
)
 
148

 
435

Other (2)
19,239

 
37,119

 
(61
)
 
1,295

 
1,769

 
59,361

Net change
(16,623
)
 
6,955

 
(6,711
)
 
(11,798
)
 
(8,750
)
 
(36,927
)
Balance as of June 30, 2019:
 
 
 
 
 
 
 
 
Gross carrying amount
775,412

 
379,756

 
125,274

 
90,928

 
173,612

 
1,544,982

Accumulated amortization
(407,625
)
 
(206,644
)
 
(48,519
)
 
(50,624
)
 
(78,080
)
 
(791,492
)
Net
$
367,787

 
$
173,112

 
$
76,755

 
$
40,304

 
$
95,532

 
$
753,490


______________
(1) Other primarily includes intangible assets for non-compete, venue management and leasehold agreements.      
(2) Other primarily includes netdowns of fully amortized assets.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2019 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
 
Weighted-
Average
Life (years)
Revenue-generating contracts
8
Client/vendor relationships
4
Trademarks and naming rights
3
Technology
2
Other
10
All categories
8
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 June 30, 2019:
 
(in thousands)
July 1 - December 31, 2019
$
100,073

2020
$
169,224

2021
$
130,323

2022
$
101,644

2023
$
85,497


Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the six months ended June 30, 2019:
 
Concerts
 
Ticketing
 
Sponsorship
& Advertising
 
Total
 
(in thousands)
Balance as of December 31, 2018:
 
 
 
 
 
 
 
Goodwill
$
1,094,604

 
$
762,953

 
$
400,749

 
$
2,258,306

Accumulated impairment losses
(435,363
)
 
—

 
—

 
(435,363
)
                 Net
659,241

 
762,953

 
400,749

 
1,822,943

 
 
 
 
 
 
 
 
Acquisitions—current year
42,264

 
3,863

 
51,423

 
97,550

Acquisitions—prior year
5,969

 
—

 
—

 
5,969

Foreign exchange
(486
)
 
(42
)
 
(209
)
 
(737
)
 
 
 
 
 
 
 
 
Balance as of June 30, 2019:
 
 
 
 
 
 
 
Goodwill
1,142,351

 
766,774

 
451,963

 
2,361,088

Accumulated impairment losses
(435,363
)
 
—

 
—

 
(435,363
)
                 Net
$
706,988

 
$
766,774

 
$
451,963

 
$
1,925,725