| Results of Operations Related to Reportable Segments of the Entity |
The following table presents the results of operations for the Company’s reportable segments for the three months ending March 31, 2013 and 2012:
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Concerts |
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Ticketing |
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Artist
Nation |
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Sponsorship
& Advertising |
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Other |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
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Three Months Ended March 31, 2013 |
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Revenue |
$ |
513,535 |
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|
$ |
325,135 |
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|
$ |
50,271 |
|
|
$ |
40,147 |
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|
$ |
793 |
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|
$ |
— |
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|
$ |
(6,183 |
) |
|
$ |
923,698 |
|
Direct operating expenses |
390,252 |
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|
155,062 |
|
|
31,412 |
|
|
6,864 |
|
|
(965 |
) |
|
— |
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|
(5,691 |
) |
|
576,934 |
|
Selling, general and administrative expenses |
137,318 |
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|
111,940 |
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|
20,038 |
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|
9,688 |
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|
538 |
|
|
— |
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|
— |
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|
279,522 |
|
Depreciation and amortization |
28,702 |
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|
42,813 |
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|
10,034 |
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|
142 |
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|
174 |
|
|
792 |
|
|
(492 |
) |
|
82,165 |
|
Loss (gain) on disposal of operating assets |
(3,130 |
) |
|
(62 |
) |
|
(412 |
) |
|
— |
|
|
7 |
|
|
— |
|
|
— |
|
|
(3,597 |
) |
Corporate expenses |
— |
|
|
— |
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|
— |
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|
— |
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— |
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|
20,655 |
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|
— |
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|
20,655 |
|
Acquisition transaction expenses |
234 |
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|
24 |
|
|
128 |
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|
— |
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— |
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|
822 |
|
|
— |
|
|
1,208 |
|
Operating income (loss) |
$ |
(39,841 |
) |
|
$ |
15,358 |
|
|
$ |
(10,929 |
) |
|
$ |
23,453 |
|
|
$ |
1,039 |
|
|
$ |
(22,269 |
) |
|
$ |
— |
|
|
$ |
(33,189 |
) |
Intersegment revenue |
$ |
5,713 |
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|
$ |
267 |
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$ |
203 |
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|
$ |
— |
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$ |
— |
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$ |
— |
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|
$ |
(6,183 |
) |
|
$ |
— |
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Capital expenditures |
$ |
2,441 |
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|
$ |
18,863 |
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|
$ |
118 |
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$ |
303 |
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|
$ |
— |
|
|
$ |
(177 |
) |
|
$ |
— |
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|
$ |
21,548 |
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Three Months Ended March 31, 2012 |
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Revenue |
$ |
448,699 |
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|
$ |
326,544 |
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|
$ |
61,405 |
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$ |
36,128 |
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|
$ |
776 |
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|
$ |
— |
|
|
$ |
(5,555 |
) |
|
$ |
867,997 |
|
Direct operating expenses |
343,353 |
|
|
151,875 |
|
|
40,638 |
|
|
6,721 |
|
|
1,485 |
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|
— |
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|
(5,358 |
) |
|
538,714 |
|
Selling, general and administrative expenses |
131,618 |
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|
103,328 |
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|
24,088 |
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|
8,789 |
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|
312 |
|
|
— |
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|
— |
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|
268,135 |
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Depreciation and amortization |
28,362 |
|
|
39,166 |
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|
11,612 |
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|
39 |
|
|
12 |
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|
719 |
|
|
(197 |
) |
|
79,713 |
|
Loss (gain) on disposal of operating assets |
(470 |
) |
|
(90 |
) |
|
— |
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|
— |
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|
272 |
|
|
— |
|
|
— |
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|
(288 |
) |
Corporate expenses |
— |
|
|
— |
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|
— |
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— |
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|
— |
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|
23,217 |
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|
— |
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|
23,217 |
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Acquisition transaction expenses |
814 |
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|
(20 |
) |
|
50 |
|
|
— |
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|
— |
|
|
465 |
|
|
— |
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|
1,309 |
|
Operating income (loss) |
$ |
(54,978 |
) |
|
$ |
32,285 |
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|
$ |
(14,983 |
) |
|
$ |
20,579 |
|
|
$ |
(1,305 |
) |
|
$ |
(24,401 |
) |
|
$ |
— |
|
|
$ |
(42,803 |
) |
Intersegment revenue |
$ |
4,049 |
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|
$ |
314 |
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$ |
1,192 |
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|
$ |
— |
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|
$ |
— |
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|
$ |
— |
|
|
$ |
(5,555 |
) |
|
$ |
— |
|
Capital expenditures |
$ |
3,255 |
|
|
$ |
18,331 |
|
|
$ |
133 |
|
|
$ |
756 |
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|
$ |
— |
|
|
$ |
908 |
|
|
$ |
— |
|
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$ |
23,383 |
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