| 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 three months ended March 31, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue-
generating
contracts
|
|
Client /
vendor
relationships
|
|
Trademarks
and
naming
rights
|
|
Technology |
|
Other (1)
|
|
Total |
|
(in thousands) |
Balance as of December 31, 2017: |
|
|
|
|
|
|
|
|
Gross carrying amount |
$ |
789,363 |
|
|
$ |
341,449 |
|
|
$ |
126,331 |
|
|
$ |
63,666 |
|
|
$ |
135,231 |
|
|
$ |
1,456,040 |
|
Accumulated amortization |
(410,011 |
) |
|
(186,357 |
) |
|
(32,681 |
) |
|
(22,745 |
) |
|
(74,981 |
) |
|
(726,775 |
) |
Net |
379,352 |
|
|
155,092 |
|
|
93,650 |
|
|
40,921 |
|
|
60,250 |
|
|
729,265 |
|
Gross carrying amount: |
|
|
|
|
|
|
|
|
|
|
Acquisitions—current year |
1,157 |
|
|
37,777 |
|
|
— |
|
|
20,466 |
|
|
11,983 |
|
|
71,383 |
|
Acquisitions—prior year |
(977 |
) |
|
— |
|
|
— |
|
|
194 |
|
|
400 |
|
|
(383 |
) |
Foreign exchange |
5,791 |
|
|
2,126 |
|
|
67 |
|
|
278 |
|
|
1,598 |
|
|
9,860 |
|
Other (2)
|
— |
|
|
(3,700 |
) |
|
— |
|
|
(5 |
) |
|
(2,306 |
) |
|
(6,011 |
) |
Net change |
5,971 |
|
|
36,203 |
|
|
67 |
|
|
20,933 |
|
|
11,675 |
|
|
74,849 |
|
Accumulated amortization: |
|
|
|
|
|
|
|
|
|
|
Amortization |
(18,947 |
) |
|
(12,836 |
) |
|
(3,139 |
) |
|
(5,565 |
) |
|
(5,247 |
) |
|
(45,734 |
) |
Foreign exchange |
(3,190 |
) |
|
(832 |
) |
|
(163 |
) |
|
(110 |
) |
|
(802 |
) |
|
(5,097 |
) |
Other(2)
|
— |
|
|
3,700 |
|
|
8 |
|
|
28 |
|
|
2,307 |
|
|
6,043 |
|
Net change |
(22,137 |
) |
|
(9,968 |
) |
|
(3,294 |
) |
|
(5,647 |
) |
|
(3,742 |
) |
|
(44,788 |
) |
Balance as of March 31, 2018: |
|
|
|
|
|
|
|
|
Gross carrying amount |
795,334 |
|
|
377,652 |
|
|
126,398 |
|
|
84,599 |
|
|
146,906 |
|
|
1,530,889 |
|
Accumulated amortization |
(432,148 |
) |
|
(196,325 |
) |
|
(35,975 |
) |
|
(28,392 |
) |
|
(78,723 |
) |
|
(771,563 |
) |
Net |
$ |
363,186 |
|
|
$ |
181,327 |
|
|
$ |
90,423 |
|
|
$ |
56,207 |
|
|
$ |
68,183 |
|
|
$ |
759,326 |
|
______________
(1) Other includes intangible assets for non-compete agreements and venue management and leasehold agreements.
(2) 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, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Concerts |
|
Sponsorship
& Advertising
|
|
Ticketing |
|
Total |
|
(in thousands) |
Balance as of December 31, 2017: |
|
|
|
|
|
|
|
Goodwill |
$ |
1,015,913 |
|
|
$ |
401,753 |
|
|
$ |
761,786 |
|
|
$ |
2,179,452 |
|
Accumulated impairment losses |
(424,863 |
) |
|
— |
|
|
— |
|
|
(424,863 |
) |
Net |
591,050 |
|
|
401,753 |
|
|
761,786 |
|
|
1,754,589 |
|
Acquisitions—current year |
6,615 |
|
|
— |
|
|
— |
|
|
6,615 |
|
Acquisitions—prior year |
771 |
|
|
2,459 |
|
|
— |
|
|
3,230 |
|
Foreign exchange |
2,219 |
|
|
3,832 |
|
|
2,186 |
|
|
8,237 |
|
Balance as of March 31, 2018: |
|
|
|
|
|
|
|
Goodwill |
1,025,518 |
|
|
408,044 |
|
|
763,972 |
|
|
2,197,534 |
|
Accumulated impairment losses |
(424,863 |
) |
|
— |
|
|
— |
|
|
(424,863 |
) |
Net |
$ |
600,655 |
|
|
$ |
408,044 |
|
|
$ |
763,972 |
|
|
$ |
1,772,671 |
|
|