Quarterly report pursuant to Section 13 or 15(d)

SEGMENT DATA

v2.4.1.9
SEGMENT DATA
 3 Months Ended
Mar. 31, 2015
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, ticket resale services 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, rich media offerings, including live streaming and music-related original content, and banner ads across the Company’s distribution network of venues, events and websites.
Revenue and expenses earned and charged between segments are eliminated in consolidation. Corporate expenses and all line items below operating income (loss) are managed on a total company basis. The Company’s capital expenditures include accruals and 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.
For the three months ended March 31, 2014, the previously reported capital expenditures in the Concerts segment has been increased by $1.2 million to include insurance recoveries and landlord reimbursements. The expenditures had previously been reported net of these recoveries.
The following table presents the results of operations for the Company’s reportable segments for the three months ended March 31, 2015 and 2014:
 
Concerts
 
Ticketing
 
Artist
Nation
 
Sponsorship
& Advertising
 
Other
 
Corporate
 
Eliminations
 
Consolidated
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
Three Months Ended March 31, 2015
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
$
623,234

 
$
375,630

 
$
77,945

 
$
52,097

 
$
793

 
$
—

 
$
(9,387
)
 
$
1,120,312

Direct operating expenses
485,972

 
185,692

 
46,830

 
10,628

 
1,068

 
—

 
(8,901
)
 
721,289

Selling, general and administrative expenses
150,990

 
112,413

 
37,214

 
13,094

 
834

 
—

 
—

 
314,545

Depreciation and amortization
29,181

 
43,296

 
10,035

 
1,988

 
11

 
516

 
(486
)
 
84,541

Loss (gain) on disposal of operating assets
226

 
(149
)
 
—

 
—

 
—

 
(38
)
 
—

 
39

Corporate expenses
—

 
—

 
—

 
—

 
—

 
24,360

 
—

 
24,360

Acquisition transaction expenses
(566
)
 
147

 
6

 
—

 
—

 
(114
)
 
—

 
(527
)
Operating income (loss)
$
(42,569
)
 
$
34,231

 
$
(16,140
)
 
$
26,387

 
$
(1,120
)
 
$
(24,724
)
 
$
—

 
$
(23,935
)
Intersegment revenue
$
8,739

 
$
—

 
$
648

 
$
—

 
$
—

 
$
—

 
$
(9,387
)
 
$
—

Capital expenditures
$
4,947

 
$
19,874

 
$
762

 
$
(15
)
 
$
—

 
$
229

 
$
—

 
$
25,797

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 income (loss)
$
(33,938
)
 
$
21,936

 
$
(3,570
)
 
$
25,199

 
$
890

 
$
(22,825
)
 
$
—

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

 
$
273

 
$
622

 
$
—

 
$
—

 
$
—

 
$
(8,325
)
 
$
—

Capital expenditures
$
5,936

 
$
13,878

 
$
601

 
$
(45
)
 
$
—

 
$
1,444

 
$
—

 
$
21,814