XML 26 R16.htm IDEA: XBRL DOCUMENT v3.23.2
LONG-LIVED ASSETS (Long-Lived Assets) (Tables)
6 Months Ended
Jun. 30, 2023
LONG-LIVED ASSETS [Abstract]  
Property, Plant and Equipment Property, plant and equipment, net, consisted of the following:
June 30, 2023December 31, 2022
(in thousands)
Land, buildings and improvements$1,989,861 $1,648,488 
Computer equipment and capitalized software897,238 910,793 
Furniture and other equipment576,119 535,719 
Construction in progress229,125 244,618 
Property, plant and equipment, gross3,692,343 3,339,618 
Less: accumulated depreciation1,788,323 1,851,955 
Property, plant and equipment, net$1,904,020 $1,487,663 
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 six months ended June 30, 2023:
Client /
vendor
relationships
Revenue-
generating
contracts
Venue management and leaseholdsTrademarks
and
naming
rights
Technology and Other (1)
Total
(in thousands)
Balance as of December 31, 2022:
Gross carrying amount
563,210 $824,785 $148,022 $188,596 $35,736 $1,760,349 
Accumulated amortization
(209,518)(316,581)(58,588)(97,931)(27,109)(709,727)
Net353,692 508,204 89,434 90,665 8,627 1,050,622 
Gross carrying amount:
Acquisitions and additions—current year
18,429 27,125 47,045 — 20,224 112,823 
Acquisitions and additions—prior year
619 24,530 (11)— — 25,138 
Foreign exchange16,306 24,320 2,795 7,434 171 51,026 
Other (2)
(12,127)(42,442)— (13,583)(16,601)(84,753)
Net change23,227 33,533 49,829 (6,149)3,794 104,234 
Accumulated amortization:
Amortization
(38,482)(50,041)(8,662)(9,240)(6,301)(112,726)
Foreign exchange(3,058)(5,312)(692)(1,108)(413)(10,583)
Other (2)
12,077 43,135 45 13,589 17,773 86,619 
Net change(29,463)(12,218)(9,309)3,241 11,059 (36,690)
Balance as of June 30, 2023:
Gross carrying amount
586,437 858,318 197,851 182,447 39,530 1,864,583 
Accumulated amortization
(238,981)(328,799)(67,897)(94,690)(16,050)(746,417)
Net$347,456 $529,519 $129,954 $87,757 $23,480 $1,118,166 

(1) Other primarily includes intangible assets for non-compete agreements.
(2) Other primarily includes netdowns of fully amortized or impaired assets.
[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets
The 2023 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows:
Weighted-
Average
Life (years)
Revenue-generating contracts5
Client/vendor relationships5
Venue management and leaseholds14
Technology (1)
3
All categories8
_____________________
(1) The weighted average life of technology intangibles does not include purchased software licenses that are typically amortized over 1 to 3 years.
[3]
Changes in Goodwill by Segment
The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the six months ended June 30, 2023:
ConcertsTicketingSponsorship
& Advertising
Total
(in thousands)
Balance as of December 31, 2022:
Goodwill $1,349,426 $979,742 $635,575 $2,964,743 
Accumulated impairment losses(435,363)— — (435,363)
                 Net914,063 979,742 635,575 2,529,380 
Acquisitions—current year29,934 — — 29,934 
Acquisitions—prior year1,399 (106)— 1,293 
Dispositions(6,183)— — (6,183)
Foreign exchange7,933 29,147 27,852 64,932 
Balance as of June 30, 2023:
Goodwill1,382,509 1,008,783 663,427 3,054,719 
Accumulated impairment losses(435,363)— — (435,363)
                 Net$947,146 $1,008,783 $663,427 $2,619,356 
[1] Other primarily includes intangible assets for non-compete agreements.
[2] Other primarily includes netdowns of fully amortized or impaired assets.
[3] The weighted average life of technology intangibles does not include purchased software licenses that are typically amortized over 1 to 3 years.