Live Nation Entertainment Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

9 Months Ended

Sep. 30, 2022

The significant components of operating lease expense are as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands)
Operating lease expense	$	60,003	$	56,662	$	195,514	$	168,538
Variable and short-term lease expense	64,548		44,552		117,441		57,548
Sublease income	(1,627)		(1,346)		(3,901)		(4,864)
Net lease expense	$	122,924	$	99,868	$	309,054	$	221,222

Supplemental cash flow information for our operating leases is as follows:


	Nine Months Ended September 30,
	2022		2021
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	177,847	$	142,243
Lease assets obtained in exchange for lease obligations, net of terminations	$	289,977	$	79,703

Future maturities of our operating lease liabilities at September 30, 2022 are as follows:


	(in thousands)
Remainder of 2022	$	56,656
2023	244,468
2024	234,451
2025	222,720
2026	212,689
Thereafter	1,747,809
Total lease payments	2,718,793
Less: Interest	887,785
Present value of lease liabilities	$	1,831,008

The weighted average remaining lease term and weighted average discount rate for our operating leases are as follows:


	September 30, 2022		December 31, 2021
Weighted average remaining lease term (in years)	13.6		13.2
Weighted average discount rate	5.96	%	6.10	%