Quarterly report pursuant to Section 13 or 15(d)

CORRECTION OF ERRORS (Details)

v3.24.3
CORRECTION OF ERRORS (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Accounts receivable $ 2,693,998   $ 2,693,998     $ 2,024,649    
Assets, Current 9,775,154   9,775,154     9,533,349    
Total assets 19,747,070   19,747,070     19,029,640    
Accrued expenses 3,454,183   3,454,183     3,030,812    
Total current liabilities 9,680,578   9,680,578     9,984,434    
Redeemable noncontrolling interests 1,023,907   1,023,907     859,930    
Total Live Nation stockholders' equity 287,966   287,966     (52,305)    
Total equity 929,743 $ 852,018 929,743 $ 852,018 $ 508,074 552,000 $ 320,493 $ 65,027
Revenue 7,651,087 8,154,563 [1] 17,474,032 16,907,636 [1]        
Direct Operating Costs 5,780,188 6,297,883 12,839,737 12,589,606        
Operating Income (Loss) 639,525 653,658 [2] 1,063,954 1,166,409 [2]        
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (585,912) (631,681) (1,040,618) (1,056,302)        
Income tax expense (70,229) (50,269) (191,412) (127,070)        
Net income (515,683) (581,412) (849,206) (929,232)        
Net Income (Loss) Attributable to Noncontrolling Interest (63,878) (59,932) (153,906) (139,405)        
Net Income (Loss) $ (451,805) $ (521,480) $ (695,300) $ (789,827)        
Basic net income per common share available to common stockholders of Live Nation $ 1.72 $ 2.01 $ 2.21 $ 2.70        
Diluted net income per common share available to common stockholders of Live Nation $ 1.66 $ 1.93 $ 2.18 $ 2.66        
Comprehensive income $ 463,828 $ 534,401 $ 647,145 $ 1,031,550        
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest 63,878 59,932 153,906 139,405        
Comprehensive income attributable to common stockholders of Live Nation 399,950 474,469 493,239 892,145        
Other expense (income), net (12,268) 19,251 (110,064) 24,235        
Cash and cash equivalents 5,489,919   5,489,919     6,231,866    
Deferred revenue 3,034,514   3,034,514     3,398,028    
Total liabilities and equity 19,747,070   19,747,070     19,029,640    
Increase (Decrease) in Accounts Receivable     (565,093) (1,030,453)        
Increase in accounts payable, accrued expenses and other liabilities     586,960 903,597        
Decrease in deferred revenue     (288,566) (142,593)        
Net cash provided by operating activities     680,052 754,621        
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect     (738,153) 335,168        
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents $ 5,500,803 5,955,362 $ 5,500,803 5,955,362   6,238,956   5,620,194
Previously Reported [Member]                
Accounts receivable           2,069,054    
Assets, Current           9,577,754    
Total assets           19,074,045    
Accrued expenses           3,006,281    
Total current liabilities           9,959,903    
Redeemable noncontrolling interests           893,709    
Total Live Nation stockholders' equity           (17,148)    
Total equity           587,157    
Revenue   8,152,019   16,910,132        
Direct Operating Costs   6,330,465   12,610,832        
Operating Income (Loss)   618,532   1,147,679        
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest   (596,555)   (1,037,572)        
Income tax expense   (55,874)   (121,362)        
Net income   (540,681)   (916,210)        
Net Income (Loss) Attributable to Noncontrolling Interest   (57,186)   (142,202)        
Net Income (Loss)   $ (483,495)   $ (774,008)        
Basic net income per common share available to common stockholders of Live Nation   $ 1.85   $ 2.63        
Diluted net income per common share available to common stockholders of Live Nation   $ 1.78   $ 2.59        
Comprehensive income   $ 493,670   $ 1,018,528        
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest   57,186   142,202        
Comprehensive income attributable to common stockholders of Live Nation   436,484   876,326        
Total liabilities and equity           19,074,045    
Increase (Decrease) in Accounts Receivable       1,014,739        
Increase in accounts payable, accrued expenses and other liabilities       916,619        
Decrease in deferred revenue       (150,487)        
Net cash provided by operating activities       762,441        
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect       342,988        
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents               5,612,374
Revision of Prior Period, Error Correction, Adjustment                
Accounts receivable           (44,405)    
Assets, Current           (44,405)    
Total assets           (44,405)    
Accrued expenses           24,531    
Total current liabilities           24,531    
Redeemable noncontrolling interests           (33,779)    
Total Live Nation stockholders' equity           (35,157)    
Total equity           (35,157)    
Revenue   2,544   (2,496)        
Direct Operating Costs   (32,582)   (21,226)        
Operating Income (Loss)   35,126   18,730        
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest   (35,126)   (18,730)        
Income tax expense   5,605   (5,708)        
Net income   (40,731)   (13,022)        
Net Income (Loss) Attributable to Noncontrolling Interest   (2,746)   2,797        
Net Income (Loss)   $ (37,985)   $ (15,819)        
Basic net income per common share available to common stockholders of Live Nation   $ 0.16   $ 0.07        
Diluted net income per common share available to common stockholders of Live Nation   $ 0.15   $ 0.07        
Comprehensive income   $ 40,731   $ 13,022        
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest   2,746   (2,797)        
Comprehensive income attributable to common stockholders of Live Nation   $ 37,985   15,819        
Total liabilities and equity           $ (44,405)    
Increase (Decrease) in Accounts Receivable       15,714        
Increase in accounts payable, accrued expenses and other liabilities       (13,022)        
Decrease in deferred revenue       7,894        
Net cash provided by operating activities       (7,820)        
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect       $ (7,820)        
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents               $ 7,820
[1] Prior period revenue was restated as further discussed in Note 9 – Correction of Errors in Previously Reported Consolidated Financial Statements. For the three and nine months ended September 30, 2023, the restatement decreased our Concerts segment revenue by $2.5 million and $2.5 million, respectively. For the three months ended September 30, 2023, the restatement increased our Ticketing segment revenue by $5.0 million.
[2] For the three and nine months ended September 30, 2023, the restatement increased our AOI and operating income by $35.1 million and $18.7 million, respectively. See further discussion in Note 9 – Correction of Errors in Previously Reported Consolidated Financial Statements