Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.3
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment
Property, plant and equipment, net, consisted of the following:
September 30, 2024 December 31, 2023
(in thousands)
Land, buildings and improvements $ 2,243,158  $ 2,043,595 
Computer equipment and capitalized software 926,193  888,065 
Furniture and other equipment 744,635  646,966 
Construction in progress 399,353  317,028 
Property, plant and equipment, gross 4,313,339  3,895,654 
Less: accumulated depreciation 1,937,471  1,794,191 
Property, plant and equipment, net $ 2,375,868  $ 2,101,463 
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, 2024:
Revenue-
generating
contracts		 Client /
vendor
relationships		 Venue management Trademarks
and
naming
rights
Technology and Other (1)
Total
(in thousands)
Balance as of December 31, 2023:
Gross carrying amount
 $ 925,257  $ 583,436  $ 226,788  $ 183,493  $ 20,220  $ 1,939,194 
Accumulated amortization
 (336,625) (251,649) (79,218) (104,036) (6,045) (777,573)
Net 588,632  331,787  147,570  79,457  14,175  1,161,621 
Gross carrying amount:
Acquisitions and additions—current year
 68,453  48,937  1,256  3,000  7,939  129,585 
Acquisitions and additions—prior year
 826  4,066  453  (2) —  5,343 
Foreign exchange (58,063) (16,985) (2,191) (8,810) (94) (86,143)
Other (2)
(15,575) (20,132) (23,930) (3,213) (823) (63,673)
Net change (4,359) 15,886  (24,412) (9,025) 7,022  (14,888)
Accumulated amortization:
Amortization
(82,677) (64,266) (17,887) (13,585) (6,535) (184,950)
Foreign exchange 15,438  4,612  107  2,521  (12) 22,666 
Other (2)
15,575  20,132  24,032  2,863  936  63,538 
Net change (51,664) (39,522) 6,252  (8,201) (5,611) (98,746)
Balance as of September 30, 2024:
Gross carrying amount
 920,898  599,322  202,376  174,468  27,242  1,924,306 
Accumulated amortization
 (388,289) (291,171) (72,966) (112,237) (11,656) (876,319)
Net $ 532,609  $ 308,151  $ 129,410  $ 62,231  $ 15,586  $ 1,047,987 

(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 2024 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows:
Weighted-
Average
Life (years)
Revenue-generating contracts 9
Client/vendor relationships 5
Trademarks and naming rights 10
Venue management 3
Technology 3
All categories 7
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 nine months ended September 30, 2024:
Concerts Ticketing Sponsorship
& Advertising		 Total
(in thousands)
Balance as of December 31, 2023:
Goodwill $ 1,439,579  $ 1,012,530  $ 674,720  $ 3,126,829 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net 1,004,216  1,012,530  674,720  2,691,466 
Acquisitions—current year 25,797  507  1,015  27,319 
Acquisitions—prior year 4,136  —  —  4,136 
Foreign exchange 911  (31,056) (22,768) (52,913)
Balance as of September 30, 2024:
Goodwill 1,470,423  981,981  652,967  3,105,371 
Accumulated impairment losses (435,363) —  —  (435,363)
                 Net $ 1,035,060  $ 981,981  $ 652,967  $ 2,670,008 
[1] Other primarily includes intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets.