Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS Long-Lived Assets (Tables)

v3.19.3
LONG-LIVED ASSETS Long-Lived Assets (Tables)
 9 Months Ended
Sep. 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 nine months ended September 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
 100,416    25,639    1,632    7,794    60,145    195,626   
Acquisitions—prior year
 —    —    —    —    43    43   
Foreign exchange (14,694)   (3,937)   (845)   (419)   (2,160)   (22,055)  
Other (2)
(71,601)   (37,748)   76    (8,530)   (19,413)   (137,216)  
Net change 14,121    (16,046)   863    (1,155)   38,615    36,398   
Accumulated amortization:
Amortization
(75,596)   (43,999)   (10,097)   (19,957)   (16,391)   (166,040)  
Foreign exchange 5,560    2,483    362    377    976    9,758   
Other (2)
71,580    37,747    (54)   8,529    19,421    137,223   
Net change 1,544    (3,769)   (9,789)   (11,051)   4,006    (19,059)  
Balance as of September 30, 2019:
Gross carrying amount
 707,084    377,726    124,570    84,256    158,778    1,452,414   
Accumulated amortization
 (389,458)   (217,368)   (51,597)   (49,877)   (65,324)   (773,624)  
Net $ 317,626    $ 160,358    $ 72,973    $ 34,379    $ 93,454    $ 678,790   
______________
(1) Other primarily includes intangible assets for non-compete, venue management and leasehold agreements.  
(2) Other primarily includes netdowns of fully amortized or impaired assets.
[1],[2]
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 9
All categories 7
Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets
The following table presents our estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at September 30, 2019:
(in thousands)  
October 1 - December 31, 2019 $ 48,212   
2020 $ 164,235   
2021 $ 125,521   
2022 $ 97,365   
2023 $ 81,030   
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 nine months ended September 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 46,648    4,017    51,237    101,902   
Acquisitions—prior year 8,827    —    —    8,827   
Foreign exchange (10,889)   (3,458)   (4,110)   (18,457)  
Balance as of September 30, 2019:
Goodwill 1,139,190    763,512    447,876    2,350,578   
Accumulated impairment losses (435,363)   —    —    (435,363)  
                 Net $ 703,827    $ 763,512    $ 447,876    $ 1,915,215   
[1] (1) Other primarily includes intangible assets for non-compete, venue management and leasehold agreements.
[2] (2) Other primarily includes netdowns of fully amortized or impaired assets.