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QUARTERLY RESULTS OF OPERATIONS (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
QUARTERLY RESULTS OF OPERATIONS (Unaudited)
 
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
2016
 
2015
 
 
(in thousands)
Revenue
 
$
1,207,716

 
$
1,120,312

 
$
2,179,258

 
$
1,765,777

 
$
3,170,416

 
$
2,622,917

 
$
1,797,544

 
$
1,736,725

Operating income (loss)
 
$
(33,290
)
 
$
(23,935
)
 
$
74,159

 
$
42,245

 
$
191,286

 
$
153,510

 
$
(37,215
)
 
$
(40,448
)
Net income (loss)
 
$
(55,954
)
 
$
(66,526
)
 
$
36,461

 
$
20,212

 
$
132,761

 
$
104,382

 
$
(92,971
)
 
$
(73,837
)
Net income (loss) attributable to common stockholders of Live Nation
 
$
(44,518
)
 
$
(58,279
)
 
$
37,741

 
$
15,056

 
$
111,079

 
$
89,049

 
$
(101,360
)
 
$
(78,334
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic net income (loss) per common share available to common stockholders of Live Nation
 
$
(0.29
)
 
$
(0.31
)
 
$
0.13

 
$
0.06

 
$
0.51

 
$
0.39

 
$
(0.58
)
 
$
(0.47
)
Diluted net income (loss) per common share available to common stockholders of Live Nation
 
$
(0.29
)
 
$
(0.31
)
 
$
0.13

 
$
0.06

 
$
0.49

 
$
0.38

 
$
(0.58
)
 
$
(0.47
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


The following summarizes unusual or infrequent items effecting the quarterly results of operations:
2016
In the third quarter of 2016, the Company recorded impairment charges of $15.1 million related to investments in a digital content company and an online merchandise company as a component of equity in losses (earnings) of nonconsolidated affiliates. See Note 5—Fair Value Measurements for further discussion of the inputs used to determine the fair values.
In the fourth quarter of 2016, the Company recorded a $14.0 million loss on extinguishment of debt related to the refinancing of certain of its debt. See Note 3—Long-Term Debt for further discussion.
The Company recorded net foreign exchange rate gains of $7.8 million in the first quarter of 2016 and net foreign exchange rate losses of $6.6 million, $1.9 million and $8.0 million in the second, third and fourth quarters of 2016, respectively, as a component of other expense, net.
2015
The Company recorded remeasurement gains of $10.0 million in the second quarter of 2015 as a component of other expense, net in connection with the consolidation of a festival promotion business and a ticketing company that were previously accounted for as equity investments. See Note 5—Fair Value Measurements for further discussion.
The Company recorded net foreign exchange rate losses of $20.8 million, $10.6 million and $4.1 million in the first, third and fourth quarters of 2015, respectively, as a component of other expense, net.