Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v2.4.0.8
EQUITY (Tables)
9 Months Ended
Sep. 30, 2014
Equity [Abstract]  
Reconciliation of Carrying Amount of Equity and Redeemable Noncontrolling Interests
The following table shows the reconciliation of the carrying amount of stockholders’ equity attributable to Live Nation Entertainment, Inc., equity attributable to noncontrolling interests, total equity and also redeemable noncontrolling interests for the nine months ended September 30, 2014:
 
Live Nation
Entertainment, Inc.
Stockholders’  Equity
 
Noncontrolling
Interests
 
Total
Equity
 
Redeemable
Noncontrolling
Interests
 
(in thousands)
 
(in thousands)
Balance at December 31, 2013
$
1,409,228

 
$
180,578

 
$
1,589,806

 
$
61,041

Non-cash and stock-based compensation
31,531

 

 
31,531

 

Common stock issued under stock plans, net of shares withheld for employee taxes
(14,891
)
 

 
(14,891
)
 

Exercise of stock options
14,142

 

 
14,142

 

Fair value of convertible debt conversion feature, net of issuance costs
21,444

 

 
21,444

 

Acquisitions

 
3,343

 
3,343

 

Purchases of noncontrolling interests
(1,721
)
 
6

 
(1,715
)
 
(4,291
)
Sales of noncontrolling interests
(11,748
)
 
(158
)
 
(11,906
)
 
19,249

Redeemable noncontrolling interests fair value adjustments
(3,702
)
 

 
(3,702
)
 
3,702

Noncontrolling interests contributions

 
106

 
106

 

Cash distributions

 
(21,971
)
 
(21,971
)
 
(1,993
)
Other

 
(4,559
)
 
(4,559
)
 

Comprehensive income (loss):
 
 
 
 

 
 
Net income (loss)
95,649

 
19,175

 
114,824

 
(3,272
)
Unrealized loss on cash flow hedges
(2
)
 

 
(2
)
 

Realized loss on cash flow hedges
48

 

 
48

 

Change in funded status of defined benefit pension plan
30

 

 
30

 

Foreign currency translation adjustments
(35,283
)
 

 
(35,283
)
 

Balance at September 30, 2014
$
1,504,725

 
$
176,520

 
$
1,681,245

 
$
74,436

Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2014:
 
 
Gains and Losses On Cash Flow Hedges
 
Defined Benefit Pension Items
 
Foreign Currency Items
 
Total
 
 
(in thousands)
Balance at December 31, 2013
 
$
(79
)
 
$
(611
)
 
$
(1,680
)
 
$
(2,370
)
Other comprehensive income (loss) before reclassifications
 
(2
)
 
30

 
(35,283
)
 
(35,255
)
Amount reclassified from AOCI
 
48

 

 

 
48

Net other comprehensive income (loss)
 
46

 
30

 
(35,283
)
 
(35,207
)
Balance at September 30, 2014
 
$
(33
)
 
$
(581
)
 
$
(36,963
)
 
$
(37,577
)
Earnings Per Share
The following table sets forth the computation of basic and diluted net income per common share:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2014
 
2013
 
2014
 
2013
 
(in thousands except share and per share data)
Net income attributable to common stockholders of Live Nation Entertainment, Inc.
$
105,163

 
$
43,774

 
$
95,649

 
$
38,665

Accretion of redeemable noncontrolling interests
(1,198
)
 
(265
)
 
(3,702
)
 
(424
)
Net income available to common stockholders of Live Nation Entertainment, Inc.—basic
$
103,965

 
$
43,509

 
$
91,947

 
$
38,241

Convertible debt interest, net of tax
4,813

 

 

 

Net income available to common stockholders of Live Nation Entertainment, Inc.—diluted
108,778

 
43,509

 
91,947

 
38,241

 
 
 
 
 
 
 
 
Weighted average common shares—basic
199,261,810

 
196,396,704

 
198,612,221

 
192,792,286

Effect of dilutive securities:
 
 
 
 
 
 
 
        Stock options, restricted stock and warrants
7,340,484

 
5,713,079

 
7,621,353

 
4,474,003

        Convertible senior notes
14,979,289

 

 

 

Weighted average common shares—diluted
221,581,583

 
202,109,783

 
206,233,574

 
197,266,289

 
 
 
 
 
 
 
 
Basic net income available to common stockholders of Live Nation Entertainment, Inc.
$
0.52

 
$
0.22

 
$
0.46

 
$
0.20

Diluted net income available to common stockholders of Live Nation Entertainment, Inc.
$
0.49

 
$
0.22

 
$
0.45

 
$
0.19

Potentially Dilutive Securities Excluded From Diluted Net Income Per Common Share
The following table shows securities excluded from the calculation of diluted net income per common share because such securities are anti-dilutive:
  
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
  
2014
 
2013
 
2014
 
2013
 
(in thousands)
Options to purchase shares of common stock
5,116

 
3,703

 
5,243

 
6,386

Restricted stock awards—unvested
313

 
765

 
344

 
786

Conversion shares related to the convertible senior notes

 
8,105

 
7,930

 
8,105

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding
5,429

 
12,573

 
13,517

 
15,277