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 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenue $ 74,084 $ 3,157,009 $ 1,439,777 $ 4,884,837
Operating expenses:        
Direct operating expenses 194,557 2,327,414 1,068,377 3,479,018
Selling, general and administrative expenses 323,352 513,497 837,373 978,363
Depreciation and amortization 122,767 103,826 244,847 202,738
Loss (gain) on disposal of operating assets 559 (101) 689 (248)
Corporate expenses 20,916 40,787 49,228 77,243
Operating income (loss) (588,067) 171,586 (760,737) 147,723
Interest expense 52,689 36,792 96,688 73,307
Interest income (2,429) (3,818) (6,902) (6,366)
Equity in losses (earnings) of nonconsolidated affiliates 6,613 (5,828) 4,041 (8,972)
Other income, net (5,173) (430) (545) (3,833)
Income (loss) before income taxes (639,767) 144,870 (854,019) 93,587
Income tax expense (benefit) (29,183) 28,750 (32,513) 32,708
Net income (loss) (610,584) 116,120 (821,506) 60,879
Net income (loss) attributable to noncontrolling interests (43,067) 12,765 (69,205) 9,968
Net income (loss) attributable to common stockholders of Live Nation $ (567,517) $ 103,355 $ (752,301) $ 50,911
Basic net income (loss) per common share available to common stockholders of Live Nation $ (2.67) $ 0.43 $ (3.62) $ 0.12
Diluted net income (loss) per common share available to common stockholders of Live Nation $ (2.67) $ 0.41 $ (3.62) $ 0.11
Weighted average common shares outstanding:        
Basic 211,693,923 209,998,048 211,371,109 209,456,196
Diluted 211,693,923 219,977,612 211,371,109 219,107,351
Reconciliation to net income (loss) available to common stockholders of Live Nation:        
Net income (loss) attributable to common stockholders of Live Nation $ (567,517) $ 103,355 $ (752,301) $ 50,911
Accretion of redeemable noncontrolling interests 1,595 (13,515) (12,945) (25,827)
Net income (loss) available to common stockholders of Live Nation—basic (565,922) 89,840 (765,246) 25,084
Convertible debt interest, net of tax 0 86 0 0
Net income (loss) available to common stockholders of Live Nation—diluted $ (565,922) $ 89,926 $ (765,246) $ 25,084