Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 916,210 $ 576,824
Reconciling items:    
Depreciation 193,654 162,943
Amortization 188,698 155,546
Amortization of non-recoupable ticketing contract advances 58,518 56,121
Amortization of debt issuance costs and discounts 13,707 12,333
Loss on extinguishment of debt 18,366 0
Deferred income tax benefit (10,419) (155)
Stock-based compensation expense 85,905 86,178
Unrealized changes in fair value of contingent consideration 42,092 23,601
Equity in losses of nonconsolidated affiliates, net of distributions 7,013 31,420
Provision for uncollectible accounts receivable 35,707 40,736
Gain on mark-to-market of equity investments (46,720) (6,757)
Other, net (12,249) (4,077)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:    
Increase in accounts receivable (1,014,739) (1,009,472)
Increase in prepaid expenses and other assets (479,434) (297,379)
Increase in accounts payable, accrued expenses and other liabilities 916,619 1,536,196
Decrease in deferred revenue (150,487) (435,701)
Net cash provided by operating activities 762,441 928,357
CASH FLOWS FROM INVESTING ACTIVITIES    
Advances of notes receivable (129,532) (58,307)
Collections of notes receivable 9,550 16,473
Investments made in nonconsolidated affiliates (45,439) (73,335)
Purchases of property, plant and equipment (304,882) (205,987)
Cash acquired from (paid for) acquisitions, net of cash paid (acquired) 29,151 (38,770)
Purchases of intangible assets (36,653) (6,764)
Other, net 13,841 6,962
Net cash used in investing activities (463,964) (359,728)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from long-term debt, net of debt issuance costs 988,310 5,750
Payments on long-term debt (625,659) (29,462)
Contributions from noncontrolling interests 15,488 14,340
Distributions to noncontrolling interests (153,789) (81,852)
Purchases and sales of noncontrolling interests, net (89,819) (27,104)
Payments for capped call transactions (75,500) 0
Proceeds from exercise of stock options 8,343 35,698
Taxes paid for net share settlement of equity awards (9,001) (46,953)
Payments for deferred and contingent consideration (13,690) (45,164)
Other, net 249 (472)
Net cash provided by (used in) financing activities 44,932 (175,219)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (421) (325,011)
Net increase in cash, cash equivalents, and restricted cash 342,988 68,399
Cash, cash equivalents and restricted cash at beginning of period 5,612,374 4,887,792
Cash, cash equivalents and restricted cash at end of period $ 5,955,362 $ 4,956,191