Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v2.4.0.8
SEGMENT DATA
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
SEGMENT DATA
SEGMENT DATA
The Company’s reportable segments are Concerts, Ticketing, Artist Nation and Sponsorship & Advertising. The Concerts segment involves the promotion of live music events globally in the Company’s owned or operated venues and in rented third-party venues, the production of music festivals and the operation and management of music venues. The Ticketing segment involves the management of the Company’s global ticketing operations including providing ticketing software and services to clients and online access for customers relating to ticket and event information and is responsible for the Company’s primary websites, www.livenation.com and www.ticketmaster.com. The Artist Nation segment provides management services to artists and other services including merchandise sales. The Sponsorship & Advertising segment manages the development of strategic sponsorship programs in addition to the sale of international, national and local sponsorships and placement of advertising including signage, promotional programs and banner ads in the Company’s owned or operated venues and on its primary websites.
Revenue and expenses earned and charged between segments are eliminated in consolidation. Corporate expenses and all line items below operating income are managed on a total company basis. The Company’s capital expenditures include accruals but exclude expenditures funded by outside parties such as landlords or replacements funded by insurance companies.
The Company manages its working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, the Company’s management to allocate resources to or assess performance of the segments, and therefore, total segment assets have not been presented.
The following table presents the results of operations for the Company’s reportable segments for the three months ending March 31, 2014 and 2013:
 
Concerts
 
Ticketing
 
Artist
Nation
 
Sponsorship
& Advertising
 
Other
 
Corporate
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
Three Months Ended March 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
$
662,490

 
$
354,461

 
$
72,556

 
$
45,388

 
$
746

 
$
—

 
$
(8,325
)
 
$
1,127,316

Direct operating expenses
517,155

 
172,591

 
42,076

 
8,064

 
(909
)
 
—

 
(7,826
)
 
731,151

Selling, general and administrative expenses
149,916

 
114,020

 
25,793

 
11,921

 
755

 
—

 
—

 
302,405

Depreciation and amortization
28,520

 
45,983

 
7,771

 
204

 
10

 
599

 
(499
)
 
82,588

Loss (gain) on disposal of operating assets
510

 
(74
)
 
33

 
—

 
—

 
37

 
—

 
506

Corporate expenses
—

 
—

 
—

 
—

 
—

 
21,174

 
—

 
21,174

Acquisition transaction expenses
327

 
5

 
453

 
—

 
—

 
1,015

 
—

 
1,800

Operating (loss) income
$
(33,938
)
 
$
21,936

 
$
(3,570
)
 
$
25,199

 
$
890

 
$
(22,825
)
 
$
—

 
$
(12,308
)
Intersegment revenue
$
7,430

 
$
273

 
$
622

 
$
—

 
$
—

 
$
—

 
$
(8,325
)
 
$
—

Capital expenditures
$
5,626

 
$
13,878

 
$
601

 
$
(46
)
 
$
—

 
$
537

 
$
—

 
$
20,596

Three Months Ended March 31, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
$
513,535

 
$
325,135

 
$
50,271

 
$
40,147

 
$
793

 
$
—

 
$
(6,183
)
 
$
923,698

Direct operating expenses
390,252

 
155,062

 
31,412

 
6,864

 
(965
)
 
—

 
(5,691
)
 
576,934

Selling, general and administrative expenses
137,318

 
111,940

 
20,038

 
9,688

 
538

 
—

 
—

 
279,522

Depreciation and amortization
28,702

 
42,813

 
10,034

 
142

 
174

 
792

 
(492
)
 
82,165

Loss (gain) on disposal of operating assets
(3,130
)
 
(62
)
 
(412
)
 
—

 
7

 
—

 
—

 
(3,597
)
Corporate expenses
—

 
—

 
—

 
—

 
—

 
20,655

 
—

 
20,655

Acquisition transaction expenses
234

 
24

 
128

 
—

 
—

 
822

 
—

 
1,208

Operating (loss) income
$
(39,841
)
 
$
15,358

 
$
(10,929
)
 
$
23,453

 
$
1,039

 
$
(22,269
)
 
$
—

 
$
(33,189
)
Intersegment revenue
$
5,713

 
$
267

 
$
203

 
$
—

 
$
—

 
$
—

 
$
(6,183
)
 
$
—

Capital expenditures
$
2,441

 
$
18,863

 
$
118

 
$
303

 
$
—

 
$
(177
)
 
$
—

 
$
21,548