Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v2.3.0.15
SEGMENT DATA
 9 Months Ended
Sep. 30, 2011
SEGMENT DATA [Abstract]  
SEGMENT DATA
NOTE 11-SEGMENT DATA
 
The Company's reportable segments are Concerts, Ticketing, Artist Nation, eCommerce and Sponsorship.
 
The Concerts segment involves the promotion of live music events globally in the Company's owned and/or operated venues and in rented third-party venues, the production of music festivals and the operation and management of music venues and is the aggregation of the Company's North American Concerts and International Concerts operating segments. The Ticketing segment involves the management of the Company's global ticketing operations including providing ticketing software and services to clients and is the aggregation of the Company's North American Ticketing and International Ticketing operating segments. The Artist Nation segment provides management services to artists and other services including merchandise, artist fan sites and VIP tickets and is the aggregation of the Company's Artist Management and Artist Services operating segments. The eCommerce segment provides online access for customers relating to ticket and event information and is responsible for the Company's primary websites, www.livenation.com and www.ticketmaster.com. The Sponsorship segment manages the development of strategic sponsorship programs in addition to the sale of international, national and local sponsorships and placement of advertising including signage and promotional programs.
 
The Company has reclassified all periods presented to conform to the current period presentation. Certain of the line items for the three and nine months ended September 30, 2010 have been recast from the amounts that were previously reported in the Company's Form 10-Q for the period ending September 30, 2010. These recast amounts relate to purchase accounting adjustments for the Merger, which occurred in the first quarter of 2010, that were identified in the subsequent quarters of 2010 and, pursuant to the FASB guidance, are required to be reflected in the period of the respective business combinations.
 
Revenue and expenses earned and charged between segments are eliminated in consolidation. Corporate expenses and all line items below operating income (loss) are managed on a total company basis.
 
The Company manages its working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, the Company's management to allocate resources to or assess performance of the segments, and therefore, total segment assets have not been disclosed.
 
 
              
Artist
                                      
 
  
Concerts
  
Ticketing
    
Nation
    
eCommerce
    
Sponsorship
    
Other
    
Corporate
    
Eliminations
    
Consolidated
  
   
(in thousands)
  
Three Months Ended September 30, 2011
                                            
Revenue
   $ 1,280,297     $ 287,073     $ 121,375     $ 36,598     $ 72,722     $ 779     $ -     $ (8,819 )   $ 1,790,025  
Direct operating expenses
     1,066,140       130,645       80,994       5,736       12,300       -       (893 )     (8,618 )     1,286,304  
Selling, general and
                                                                        
   administrative expenses
     131,805       105,923       20,551       16,797       6,263       1,123       -       -       282,462  
Depreciation and amortization
     33,103       36,246       10,693       2,708       88       13       691       (201 )     83,341  
Loss (gain) on sale of
                                                                  
   operating assets
     13       (2 )     15       -       -       204       1       -       231  
Corporate expenses
     -       -       -       -       -       -       27,385       -       27,385  
Acquisition transaction
                                                                  
   expenses
     826       216       276       -       -       -       4,175       -       5,493  
Operating income (loss)
   $ 48,410     $ 14,045     $ 8,846     $ 11,357     $ 54,071     $ (561 )   $ (31,359 )   $ -     $ 104,809  
Intersegment revenue
   $ 1,978     $ 4,333     $ 2,166     $ 342     $ -     $ -     $ -     $ (8,819 )   $ -  
                                                                         
Three Months Ended September 30, 2010
                                                          
Revenue
   $ 1,380,527     $ 261,175     $ 110,960     $ 25,822     $ 69,534     $ 1,569     $ -     $ (13,781 )   $ 1,835,806  
Direct operating expenses
     1,192,486       123,629       70,212       2,377       10,324       -       2,417       (13,150 )     1,388,295  
Selling, general and
                                                                        
   administrative expenses
     128,680       75,638       22,984       10,202       6,230       960       -       -       244,694  
Depreciation and amortization
     29,741       25,920       12,285       2,239       66       6       623       (631 )     70,249  
Loss (gain) on sale of
                                                                  
   operating assets
     (776 )     (13 )     7       -       -       (1 )     4       -       (779 )
Corporate expenses
     -       -       -       -       -       -       27,660       -       27,660  
Acquisition transaction
                                                                  
   expenses
     (2,863 )     373       1,290       -       -       -       3,781       -       2,581  
Operating income (loss)
   $ 33,259     $ 35,628     $ 4,182     $ 11,004     $ 52,914     $ 604     $ (34,485 )   $ -     $ 103,106  
Intersegment revenue
   $ 6,563     $ -     $ 7,218     $ -     $ -     $ -     $ -     $ (13,781 )   $ -  
                                                                         
                                                                         
Nine Months Ended September 30, 2011
                                                          
Revenue
   $ 2,811,796     $ 867,238     $ 293,941     $ 103,414     $ 147,145     $ 2,385     $ 333     $ (27,936 )   $ 4,198,316  
Direct operating expenses
     2,353,774       404,820       197,261       16,785       28,164       -       (1,895 )     (27,330 )     2,971,579  
Selling, general and
                                                                        
   administrative expenses
     400,421       261,888       89,466       46,828       21,440       2,183       -       -       822,226  
Depreciation and amortization
     87,818       103,186       37,305       8,173       276       40       1,557       (606 )     237,749  
Loss (gain) on sale of
                                                                  
   operating assets
     (677 )     (93 )     1,256       5       -       374       1       -       866  
Corporate expenses
     -       -       -       -       -       -       73,011       -       73,011  
Acquisition transaction
                                                                  
   expenses
     (5,289 )     1,167       (1,906 )     -       -       -       13,892       -       7,864  
Operating income (loss)
   $ (24,251 )   $ 96,270     $ (29,441 )   $ 31,623     $ 97,265     $ (212 )   $ (86,233 )   $ -     $ 85,021  
Intersegment revenue
   $ 9,790     $ 8,036     $ 9,138     $ 972     $ -     $ -     $ -     $ (27,936 )   $ -  
Capital expenditures
   $ 15,825     $ 41,833     $ 5,318     $ 3,879     $ 892     $ -     $ 4,606     $ -     $ 72,353  
                                                                         
Nine Months Ended September 30, 2010
                                                          
Revenue
   $ 2,648,147     $ 734,722     $ 269,228     $ 62,801     $ 129,596     $ 3,483     $ -     $ (22,075 )   $ 3,825,902  
Direct operating expenses
     2,226,341       355,196       175,443       8,755       22,360       -       1,639       (20,400 )     2,769,334  
Selling, general and
                                                                        
   administrative expenses
     384,784       222,215       69,587       30,782       19,594       2,227       -       -       729,189  
Depreciation and amortization
     79,897       80,788       30,754       5,323       187       19       1,897       (1,675 )     197,190  
Loss (gain) on sale of
                                                                  
   operating assets
     (2,045 )     5,192       6       -       6       (8 )     4       -       3,155  
Corporate expenses
     -       -       -       -       -       -       86,666       -       86,666  
Acquisition transaction
                                                                  
   expenses
     (2,718 )     373       6,024       -       -       -       14,313       -       17,992  
Operating income (loss)
   $ (38,112 )   $ 70,958     $ (12,586 )   $ 17,941     $ 87,449     $ 1,245     $ (104,519 )   $ -     $ 22,376  
Intersegment revenue
   $ 10,895     $ -     $ 11,180     $ -     $ -     $ -     $ -     $ (22,075 )   $ -  
Capital expenditures
   $ 14,856     $ 25,372     $ 647     $ 1,568     $ 60     $ 297     $ 5,787     $ -     $ 48,587