Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Long-Lived Assets) (Tables)

v3.22.1
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 3 Months Ended
Mar. 31, 2022
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
March 31, 2022 December 31, 2021
(in thousands)
    Land, buildings and improvements $ 1,353,171  $ 1,324,278 
    Computer equipment and capitalized software 885,573  910,581 
    Furniture and other equipment 446,734  411,403 
    Construction in progress 123,978  173,865 
2,809,456  2,820,127 
    Less: accumulated depreciation 1,723,149  1,728,198 
$ 1,086,307  $ 1,091,929 
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 three months ended March 31, 2022:
Client /
vendor
relationships		 Revenue-
generating
contracts		 Venue management and leaseholds Trademarks
and
naming
rights		 Technology
Other (1)
Total
(in thousands)
Balance as of December 31, 2021:
Gross carrying amount
 $ 576,930  $ 593,258  $ 232,856  $ 180,865  $ 37,335  $ 10,414  $ 1,631,658 
Accumulated amortization
 (178,725) (275,909) (46,929) (79,349) (18,375) (6,033) (605,320)
Net 398,205  317,349  185,927  101,516  18,960  4,381  1,026,338 
Gross carrying amount:
Acquisitions—current year
 1,003  —  9,978  —  —  —  10,981 
Acquisitions—prior year
 (2) —  —  —  —  —  (2)
Foreign exchange 4,416  7,307  2,518  3,729  (10) 12  17,972 
Other (2)
—  —  —  —  (5,612) (540) (6,152)
Net change 5,417  7,307  12,496  3,729  (5,622) (528) 22,799 
Accumulated amortization:
Amortization
(18,106) (17,218) (6,046) (4,556) (2,959) (824) (49,709)
Foreign exchange (35) (759) 269  (788) 5  185  (1,123)
Other (2)
—  —  (7) 2  5,706  440  6,141 
Net change (18,141) (17,977) (5,784) (5,342) 2,752  (199) (44,691)
Balance as of March 31, 2022:
Gross carrying amount
 582,347  600,565  245,352  184,594  31,713  9,886  1,654,457 
Accumulated amortization
 (196,866) (293,886) (52,713) (84,691) (15,623) (6,232) (650,011)
Net $ 385,481  $ 306,679  $ 192,639  $ 99,903  $ 16,090  $ 3,654  $ 1,004,446 

(1) Other primarily includes intangible assets for non-compete 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 2022 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
Weighted-
Average
Life (years)
Client/vendor relationships 3
Venue management and leaseholds 30
All categories 28
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 three months ended March 31, 2022:
Concerts Ticketing Sponsorship
& Advertising		 Total
(in thousands)
Balance as of December 31, 2021:
Goodwill $ 1,390,451  $ 930,064  $ 705,717  $ 3,026,232 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net 955,088  930,064  705,717  2,590,869 
Acquisitions—current year 3,086  —  —  3,086 
Acquisitions—prior year 6,164  5,864  (9,788) 2,240 
Dispositions (1,792) —  —  (1,792)
Foreign exchange (4,227) 3,127  11,508  10,408 
Balance as of March 31, 2022:
Goodwill 1,393,682  939,055  707,437  3,040,174 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 958,319  $ 939,055  $ 707,437  $ 2,604,811 
[1] Other primarily includes intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets.