Quarterly report pursuant to Section 13 or 15(d)

LONG-LIVED ASSETS (Tables)

v2.4.0.8
LONG-LIVED ASSETS (Tables)
 9 Months Ended
Sep. 30, 2014
LONG-LIVED ASSETS [Abstract]  
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, 2014:
 
Revenue-
generating
contracts
 
Client /
vendor
relationships
 
Non-compete
agreements
 
Venue
management
and
leaseholds
 
Technology
 
Trademarks
and
naming
rights
 
Other
 
Total
 
(in thousands)
Balance as of December 31, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
$
585,094

 
$
277,937

 
$
137,199

 
$
85,642

 
$
100,664

 
$
28,524

 
$
2,375

 
$
1,217,435

Accumulated amortization
(231,053
)
 
(81,809
)
 
(101,128
)
 
(43,687
)
 
(73,110
)
 
(9,092
)
 
(992
)
 
(540,871
)
Net
354,041

 
196,128

 
36,071

 
41,955

 
27,554

 
19,432

 
1,383

 
676,564

Gross carrying amount:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions— current year
3,194

 
45,271

 
—

 
—

 
4,000

 
—

 
1,100

 
53,565

Acquisitions— prior year
(1,851
)
 
5,456

 
1,500

 
—

 
—

 
—

 
—

 
5,105

Dispositions
(1,600
)
 
—

 
—

 
—

 
—

 
—

 
—

 
(1,600
)
Foreign exchange
(9,241
)
 
(3,237
)
 
—

 
(833
)
 
(1,220
)
 
(645
)
 
(3
)
 
(15,179
)
Other (1)
(2,682
)
 
(800
)
 
(14,800
)
 
—

 
—

 
—

 
570

 
(17,712
)
Net change
(12,180
)
 
46,690

 
(13,300
)
 
(833
)
 
2,780

 
(645
)
 
1,667

 
24,179

Accumulated amortization:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amortization
(40,063
)
 
(32,718
)
 
(10,263
)
 
(5,128
)
 
(16,573
)
 
(2,508
)
 
(315
)
 
(107,568
)
Dispositions
605

 
—

 
—

 
—

 
—

 
—

 
—

 
605

Foreign exchange
4,192

 
590

 
—

 
453

 
1,152

 
471

 
1

 
6,859

Other (1)
2,682

 
800

 
15,550

 
—

 
—

 
—

 
—

 
19,032

Net change
(32,584
)
 
(31,328
)
 
5,287

 
(4,675
)
 
(15,421
)
 
(2,037
)
 
(314
)
 
(81,072
)
Balance as of September 30, 2014:
 
 
 
 
 
 
 
 
 
 
 
 
Gross carrying amount
572,914

 
324,627

 
123,899

 
84,809

 
103,444

 
27,879

 
4,042

 
1,241,614

Accumulated amortization
(263,637
)
 
(113,137
)
 
(95,841
)
 
(48,362
)
 
(88,531
)
 
(11,129
)
 
(1,306
)
 
(621,943
)
Net
$
309,277

 
$
211,490

 
$
28,058

 
$
36,447

 
$
14,913

 
$
16,750

 
$
2,736

 
$
619,671

_________
(1) 
Other includes net downs of fully amortized or impaired assets and $0.6 million of reclassifications of certain assets from indefinite-lived intangible assets.
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2014 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:
  
Weighted-
Average
Life (years)
 
 
Revenue-generating contracts
5
Client/vendor relationships
8
Technology
3
Other
10
All categories
7
Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of the Company’s reportable segments for the nine months ended September 30, 2014:
 
Concerts
 
Ticketing
 
Artist
Nation
 
Sponsorship
&  Advertising
 
Total
 
(in thousands)
Balance as of December 31, 2013:
 
 
 
 
 
 
 
 
 
Goodwill (1)
$
505,472

 
$
642,249

 
$
278,923

 
$
310,241

 
$
1,736,885

Accumulated impairment losses (1)
(269,902
)
 
—

 
—

 
—

 
(269,902
)
                 Net
235,570

 
642,249

 
278,923

 
310,241

 
1,466,983

 
 
 
 
 
 
 
 
 
 
Acquisitions—current year
1,129

 
7,895

 
37,655

 
—

 
46,679

Acquisitions—prior year
2,549

 
—

 
(927
)
 
(624
)
 
998

Dispositions
—

 
(4,434
)
 
—

 
—

 
(4,434
)
Foreign exchange
(10,400
)
 
(5,813
)
 
(91
)
 
(9,245
)
 
(25,549
)
 
 
 
 
 
 
 
 
 
 
Balance as of September 30, 2014:
 
 
 
 
 
 
 
 
Goodwill
498,750

 
639,897

 
315,560

 
300,372

 
1,754,579

Accumulated impairment losses
(269,902
)
 
—

 
—

 
—

 
(269,902
)
                 Net
$
228,848

 
$
639,897

 
$
315,560

 
$
300,372

 
$
1,484,677


_________
(1) 
The previously reported total balance has been reduced by $13.0 million due to the net down of fully impaired goodwill related to the Company’s non-core events business which was sold in 2008.

Investments in Nonconsolidated Affiliates
Summarized unaudited income statement information for the Company’s nonconsolidated affiliate noted above is as follows (at 100%):
 
 
Nine Months Ended 
 September 30,
 
 
2014
 
2013
 
 
(in thousands)
Revenue
 
$
30,924

 
$
38,155

Operating income
 
$
12,892

 
$
19,449

Net income
 
$
10,133

 
$
15,108

Net income attributable to the common stockholders of the equity investee
 
$
10,081

 
$
15,050

Asset and Liability Values at the Time of Disposal and the Resulting Gain or Loss Recorded
The table below summarizes the asset and liability values at the time of sale for the nine months ended September 30, 2013 for significant disposals and the resulting gain recorded. There were no significant disposals of long-lived assets in the nine months ended September 30, 2014.
Divested Asset
 
Segment
 
Gain
on Disposal of
Operating
Assets
 
Current
Assets
 
Noncurrent
Assets
 
Current
Liabilities
 
Noncurrent
Liabilities
 
 
(in thousands)
2013 Divestiture
 
 
 
 
 
 
 
 
 
 
 
 
New York theatrical theater
 
Concerts
 
$
(28,880
)
 
$
—

 
$
35,785

 
$
—

 
$
3,636