Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 6 Months Ended
Jun. 30, 2022
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
June 30, 2022 December 31, 2021
(in thousands)
    Land, buildings and improvements $ 1,329,657  $ 1,324,278 
    Computer equipment and capitalized software 888,750  910,581 
    Furniture and other equipment 427,276  411,403 
    Construction in progress 191,272  173,865 
2,836,955  2,820,127 
    Less: accumulated depreciation 1,747,534  1,728,198 
$ 1,089,421  $ 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 six months ended June 30, 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
 17,811  11,529  9,978  —  —  —  39,318 
Acquisitions—prior year
 —  3,300  —  —  —  —  3,300 
Foreign exchange (6,626) (8,455) (2,022) 841  (10) (453) (16,725)
Other (2)
(540) (10,821) —  —  (4,501) 3,465  (12,397)
Net change 10,645  (4,447) 7,956  841  (4,511) 3,012  13,496 
Accumulated amortization:
Amortization
(36,619) (34,910) (12,203) (9,159) (5,276) (4,110) (102,277)
Foreign exchange 3,918  6,298  1,858  160  7  190  12,431 
Other (2)
547  7,694  189  (50) 5,231  807  14,418 
Net change (32,154) (20,918) (10,156) (9,049) (38) (3,113) (75,428)
Balance as of June 30, 2022:
Gross carrying amount
 587,575  588,811  240,812  181,706  32,824  13,426  1,645,154 
Accumulated amortization
 (210,879) (296,827) (57,085) (88,398) (18,413) (9,146) (680,748)
Net $ 376,696  $ 291,984  $ 183,727  $ 93,308  $ 14,411  $ 4,280  $ 964,406 

(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)
Revenue-generating contracts 4
Client/vendor relationships 4
Venue management and leaseholds 30
All categories 11
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 six months ended June 30, 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 17,054  —  —  17,054 
Acquisitions—prior year (7,178) 5,864  (9,788) (11,102)
Dispositions (1,792) —  —  (1,792)
Foreign exchange (25,039) (5,000) (1,871) (31,910)
Balance as of June 30, 2022:
Goodwill 1,373,496  930,928  694,058  2,998,482 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 938,133  $ 930,928  $ 694,058  $ 2,563,119 
[1] Other primarily includes intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets.