Live Nation Entertainment Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Tables)

LONG-LIVED ASSETS (Tables)

6 Months Ended

Jun. 30, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets

The following table presents the gross carrying amount and accumulated amortization of definite-lived intangible assets as of June 30, 2011 and December 31, 2010:

	Balance as of December 31, 2010			Acquisitions			Divestitures			Amortization Expense			Foreign Currency and Other			Balance as of June 30, 2011
	(in thousands)
Revenue-generating contracts:
Gross carrying amount	$	482,588		$	34,919		$	(263	)	$	-		$	24,898		$	542,142
Accumulated amortization		(112,575	)		-			263			(29,392	)		(1,874	)		(143,578	)
Net		370,013			34,919			-			(29,392	)		23,024			398,564
Non-compete agreements:
Gross carrying amount		175,740			(5,178	)		(100	)		-			361			170,823
Accumulated amortization		(68,833	)		-			61			(13,333	)		961			(81,144	)
Net		106,907			(5,178	)		(39	)		(13,333	)		1,322			89,679
Venue management and leaseholds:
Gross carrying amount		115,225			3,828			-			-			437			119,490
Accumulated amortization		(30,878	)		-			-			(5,550	)		1,044			(35,384	)
Net		84,347			3,828			-			(5,550	)		1,481			84,106
Trademarks and naming rights:
Gross carrying amount		23,998			91			-			-			489			24,578
Accumulated amortization		(9,522	)		-			-			(4,131	)		(263	)		(13,916	)
Net		14,476			91			-			(4,131	)		226			10,662
Client/vendor relationships:
Gross carrying amount		365,344			(10,174	)		(4,299	)		-			(16,509	)		334,362
Accumulated amortization		(30,314	)		-			361			(19,317	)		1,347			(47,923	)
Net		335,030			(10,174	)		(3,938	)		(19,317	)		(15,162	)		286,439
Technology:
Gross carrying amount		95,102			768			-			-			1,557			97,427
Accumulated amortization		(11,797	)		-			-			(9,519	)		(395	)		(21,711	)
Net		83,305			768			-			(9,519	)		1,162			75,716
Other:
Gross carrying amount		6,429			12			-			-			28			6,469
Accumulated amortization		(3,239	)		-			-			(730	)		(11	)		(3,980	)
Net		3,190			12			-			(730	)		17			2,489
Total:
Gross carrying amount		1,264,426			24,266			(4,662	)		-			11,261			1,295,291
Accumulated amortization		(267,158	)		-			685			(81,972	)		809			(347,636	)
Net	$	997,268		$	24,266		$	(3,977	)	$	(81,972	)	$	12,070		$	947,655

Weighted Average Lives of Additions to Definite-Lived Intangible Assets

The 2011 additions to definite-lived intangible assets have weighted average lives as follows:

	Weighted Average Life (years)

Revenue-generating contracts	9
Non-compete agreements	2
Venue management and leaseholds	6
Trademarks and naming rights	5
Technology	10
Other	1
Combined	9

Changes in Goodwill by Segment

The following table presents the changes in the carrying amount of goodwill in each of the Company's segments for the six months ended June 30, 2011:

	Concerts			Ticketing		Artist Nation			eCommerce		Sponsorship		Other			Total
	(in thousands)
Balance as of December 31, 2010:
Goodwill	$	375,487		$	557,856	$	267,992		$	214,927	$	80,056	$	13,037		$	1,509,355
Accumulated impairment
losses		(269,902	)		-		-			-		-		(13,037	)		(282,939	)
Net		105,585			557,856		267,992			214,927		80,056		-			1,226,416

Acquisitions - current year		-			10,715		-			-		-		-			10,715
Acquisitions - prior year		2			3,612		(7,592	)		-		-		-			(3,978	)
Dispositions		-			-		(147	)		-		-		-			(147	)
Foreign currency		11,202			4,654		-			-		11,897		-			27,753
Balance as of June 30, 2011:
Goodwill		386,691			576,837		260,253			214,927		91,953		13,037			1,543,698
Accumulated impairment
losses		(269,902	)		-		-			-		-		(13,037	)		(282,939	)
Net	$	116,789		$	576,837	$	260,253		$	214,927	$	91,953	$	-		$	1,260,759

Long-Lived Asset Disposals

The table below summarizes the asset and liability values at the time of disposal and the resulting loss or gain recorded.

Divested Asset	Segment	Gain (Loss) on Sale			Current Assets			Noncurrent Assets		Current Liabilities		Noncurrent Liabilities
		(in thousands)
2011 Divestitures
Selma amphitheather	Concerts	$	809		$	-		$	3,194	$	-	$	-
Artist management company	Artist Nation	$	(1,241	)	$	(70	)	$	4,140	$	128	$	-
2010 Divestitures
Paciolan	Ticketing	$	(5,218	)	$	8,357		$	33,492	$	7,595	$	6,364

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

- Definition

Tabular disclosure of amortizable intangibles assets, in total and by major class, including the gross carrying amount and accumulated amortization. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.

+ References + Details

- Definition

Tabular disclosure of goodwill by reportable segment and in total. Disclosure details may include, but are not limited to, the carrying amount of goodwill, goodwill acquired during the year, goodwill impairment losses recognized, goodwill written-off due to the sale of a business unit, goodwill not yet allocated, and any other changes to goodwill.

+ References + Details