| 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 ended March 31, 2015 and 2014:
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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 |
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Eliminations |
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Consolidated |
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(in thousands) |
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Three Months Ended March 31, 2015 |
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Revenue |
$ |
623,234 |
|
|
$ |
375,630 |
|
|
$ |
77,945 |
|
|
$ |
52,097 |
|
|
$ |
793 |
|
|
$ |
— |
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|
$ |
(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 |
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|
37,214 |
|
|
13,094 |
|
|
834 |
|
|
— |
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|
— |
|
|
314,545 |
|
Depreciation and amortization |
29,181 |
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|
43,296 |
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|
10,035 |
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|
1,988 |
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|
11 |
|
|
516 |
|
|
(486 |
) |
|
84,541 |
|
Loss (gain) on disposal of operating assets |
226 |
|
|
(149 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(38 |
) |
|
— |
|
|
39 |
|
Corporate expenses |
— |
|
|
— |
|
|
— |
|
|
— |
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|
— |
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|
24,360 |
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|
— |
|
|
24,360 |
|
Acquisition transaction expenses |
(566 |
) |
|
147 |
|
|
6 |
|
|
— |
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|
— |
|
|
(114 |
) |
|
— |
|
|
(527 |
) |
Operating income (loss) |
$ |
(42,569 |
) |
|
$ |
34,231 |
|
|
$ |
(16,140 |
) |
|
$ |
26,387 |
|
|
$ |
(1,120 |
) |
|
$ |
(24,724 |
) |
|
$ |
— |
|
|
$ |
(23,935 |
) |
Intersegment revenue |
$ |
8,739 |
|
|
$ |
— |
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|
$ |
648 |
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|
$ |
— |
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$ |
— |
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|
$ |
— |
|
|
$ |
(9,387 |
) |
|
$ |
— |
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Capital expenditures |
$ |
4,947 |
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|
$ |
19,874 |
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|
$ |
762 |
|
|
$ |
(15 |
) |
|
$ |
— |
|
|
$ |
229 |
|
|
$ |
— |
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|
$ |
25,797 |
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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 |
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|
$ |
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 |
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|
25,793 |
|
|
11,921 |
|
|
755 |
|
|
— |
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|
— |
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|
302,405 |
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Depreciation and amortization |
28,520 |
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|
45,983 |
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|
7,771 |
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|
204 |
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|
10 |
|
|
599 |
|
|
(499 |
) |
|
82,588 |
|
Loss (gain) on disposal of operating assets |
510 |
|
|
(74 |
) |
|
33 |
|
|
— |
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|
— |
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|
37 |
|
|
— |
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|
506 |
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Corporate expenses |
— |
|
|
— |
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|
— |
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|
— |
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|
— |
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|
21,174 |
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|
— |
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|
21,174 |
|
Acquisition transaction expenses |
327 |
|
|
5 |
|
|
453 |
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|
— |
|
|
— |
|
|
1,015 |
|
|
— |
|
|
1,800 |
|
Operating income (loss) |
$ |
(33,938 |
) |
|
$ |
21,936 |
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|
$ |
(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 |
$ |
5,936 |
|
|
$ |
13,878 |
|
|
$ |
601 |
|
|
$ |
(45 |
) |
|
$ |
— |
|
|
$ |
1,444 |
|
|
$ |
— |
|
|
$ |
21,814 |
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