Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Tables)

v2.3.0.15
LONG-LIVED ASSETS (Tables)
9 Months Ended
Sep. 30, 2011
LONG-LIVED ASSETS [Abstract]  
Gross Carrying Amount and Accumulated Amortization of 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, 2011:
 
   
Balance
   
 
               
Foreign
   
Balance
 
   
as of
                     
Currency
   
as of
 
   
December 31,
               
Amortization
   
and
   
September 30,
 
   
2010
   
Acquisitions
   
Divestitures
   
Expense
   
Other (1)
   
2011
 
   
(in thousands)
 
Revenue-generating contracts:
                               
Gross carrying amount   $ 482,588     $ 31,190     $ -     $ -     $ 17,182     $ 530,960  
Accumulated amortization     (112,575 )     -       -       (44,280 )     787       (156,068 )
Net     370,013       31,190       -       (44,280 )     17,969       374,892  
Client/vendor relationships:
                                               
 Gross carrying amount     365,344       (10,174 )     (4,299 )     -       (16,531 )     334,340  
Accumulated amortization     (30,314 )     -       361       (27,464 )     279       (57,138 )
Net     335,030       (10,174 )     (3,938 )     (27,464 )     (16,252 )     277,202  
Non-compete agreements:
                                               
Gross carrying amount     175,740       (5,178 )     (100 )     -       101       170,563  
Accumulated amortization     (68,833 )     -       61       (19,021 )     487       (87,306 )
Net     106,907       (5,178 )     (39 )     (19,021 )     588       83,257  
Venue management and leaseholds:
                                         
Gross carrying amount     115,225       3,828       -       -       (1,810 )     117,243  
Accumulated amortization     (30,878 )     -       -       (8,000 )     2,030       (36,848 )
Net     84,347       3,828       -       (8,000 )     220       80,395  
Technology:
                                               
Gross carrying amount     95,102       1,614       -       -       386       97,102  
Accumulated amortization     (11,797 )     -       -       (14,880 )     (126 )     (26,803 )
Net     83,305       1,614       -       (14,880 )     260       70,299  
Trademarks and naming rights:
                                         
Gross carrying amount     23,998       105       -       -       (1,596 )     22,507  
Accumulated amortization     (9,522 )     -       -       (6,246 )     1,685       (14,083 )
Net     14,476       105       -       (6,246 )     89       8,424  
Other:
                                               
Gross carrying amount     6,429       12       -       -       (17 )     6,424  
Accumulated amortization     (3,239 )     -       -       (841 )     24       (4,056 )
Net     3,190       12       -       (841 )     7       2,368  
Total:
                                               
Gross carrying amount     1,264,426       21,397       (4,399 )     -       (2,285 )     1,279,139  
Accumulated amortization     (267,158 )     -       422       (120,732 )     5,166       (382,302 )
Net   $ 997,268     $ 21,397     $ (3,977 )   $ (120,732 )   $ 2,881     $ 896,837  
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
10
Non-compete agreements
2
Venue management and leaseholds
6
Technology
7
Trademarks and naming rights
4
Other
1
   
All categories
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 nine months ended September 30, 2011:
 
   
 
         
Artist
               
 
       
   
Concerts
   
Ticketing
   
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
    1,769       17,955       -       -       -       -       19,724  
Acquisitions - prior year
    (1 )     2,956       (7,592 )     -       -       -       (4,637 )
Dispositions
    -       -       (147 )     -       -       -       (147 )
Foreign currency
    2,807       609       -       -       2,980       -       6,396  
Balance as of September 30, 2011:
                                                       
Goodwill
    380,062       579,376       260,253       214,927       83,036       13,037       1,530,691  
Accumulated impairment
                                                       
 losses     (269,902 )     -       -       -       -       (13,037 )     (282,939 )
  Net   $ 110,160     $ 579,376     $ 260,253     $ 214,927     $ 83,036     $ -     $ 1,247,752  
Summarized Unaudited Income Statement Information for Nonconsolidated Affiliate
Summarized unaudited income statement information for the Company's significant nonconsolidated affiliate is as follows (at 100 percent):
 
   
Nine Months Ended
 
   
September 30,
 
   
2011
   
2010
 
   
(in thousands)
 
Revenue
  $ 34,217     $ 27,668  
Operating income
  $ 19,515     $ 16,049  
Net income
  $ 14,075     $ 10,580  
 
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 Divestiture
                                 
Selma amphitheater
Concerts
    $ 798     $ -     $ 3,206     $ -     $ -  
Artist management company
Artist Nation
    $ (1,256 )   $ 3     $ 4,145     $ 119     $ -  
                                             
2010 Divestiture
                                           
Paciolan
Ticketing
    $ (5,218 )   $ 8,357     $ 33,492     $ 7,595     $ 6,364