| 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, 2014 and 2013:
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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 |
|
Eliminations |
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Consolidated |
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(in thousands) |
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Three Months Ended March 31, 2014 |
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Revenue |
$ |
662,490 |
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|
$ |
354,461 |
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|
$ |
72,556 |
|
|
$ |
45,388 |
|
|
$ |
746 |
|
|
$ |
— |
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|
$ |
(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 |
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|
25,793 |
|
|
11,921 |
|
|
755 |
|
|
— |
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|
— |
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|
302,405 |
|
Depreciation and amortization |
28,520 |
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|
45,983 |
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|
7,771 |
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|
204 |
|
|
10 |
|
|
599 |
|
|
(499 |
) |
|
82,588 |
|
Loss (gain) on disposal of operating assets |
510 |
|
|
(74 |
) |
|
33 |
|
|
— |
|
|
— |
|
|
37 |
|
|
— |
|
|
506 |
|
Corporate expenses |
— |
|
|
— |
|
|
— |
|
|
— |
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|
— |
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|
21,174 |
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|
— |
|
|
21,174 |
|
Acquisition transaction expenses |
327 |
|
|
5 |
|
|
453 |
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|
— |
|
|
— |
|
|
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 |
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|
$ |
622 |
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|
$ |
— |
|
|
$ |
— |
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|
$ |
— |
|
|
$ |
(8,325 |
) |
|
$ |
— |
|
Capital expenditures |
$ |
5,626 |
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|
$ |
13,878 |
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|
$ |
601 |
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|
$ |
(46 |
) |
|
$ |
— |
|
|
$ |
537 |
|
|
$ |
— |
|
|
$ |
20,596 |
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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 |
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|
$ |
40,147 |
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|
$ |
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 |
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|
111,940 |
|
|
20,038 |
|
|
9,688 |
|
|
538 |
|
|
— |
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|
— |
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|
279,522 |
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Depreciation and amortization |
28,702 |
|
|
42,813 |
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|
10,034 |
|
|
142 |
|
|
174 |
|
|
792 |
|
|
(492 |
) |
|
82,165 |
|
Loss (gain) on disposal of operating assets |
(3,130 |
) |
|
(62 |
) |
|
(412 |
) |
|
— |
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|
7 |
|
|
— |
|
|
— |
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|
(3,597 |
) |
Corporate expenses |
— |
|
|
— |
|
|
— |
|
|
— |
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|
— |
|
|
20,655 |
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|
— |
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|
20,655 |
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Acquisition transaction expenses |
234 |
|
|
24 |
|
|
128 |
|
|
— |
|
|
— |
|
|
822 |
|
|
— |
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|
1,208 |
|
Operating (loss) income |
$ |
(39,841 |
) |
|
$ |
15,358 |
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|
$ |
(10,929 |
) |
|
$ |
23,453 |
|
|
$ |
1,039 |
|
|
$ |
(22,269 |
) |
|
$ |
— |
|
|
$ |
(33,189 |
) |
Intersegment revenue |
$ |
5,713 |
|
|
$ |
267 |
|
|
$ |
203 |
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|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(6,183 |
) |
|
$ |
— |
|
Capital expenditures |
$ |
2,441 |
|
|
$ |
18,863 |
|
|
$ |
118 |
|
|
$ |
303 |
|
|
$ |
— |
|
|
$ |
(177 |
) |
|
$ |
— |
|
|
$ |
21,548 |
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