Property, Plant and Equipment |
Property, plant and equipment, net, consisted of the following: | | | | | | | | | | | | | | | | | June 30, 2023 | | December 31, 2022 | | | (in thousands) | Land, buildings and improvements | | $ | 1,989,861 | | | $ | 1,648,488 | | Computer equipment and capitalized software | | 897,238 | | | 910,793 | | Furniture and other equipment | | 576,119 | | | 535,719 | | Construction in progress | | 229,125 | | | 244,618 | | Property, plant and equipment, gross | | 3,692,343 | | | 3,339,618 | | Less: accumulated depreciation | | 1,788,323 | | | 1,851,955 | | Property, plant and equipment, net | | $ | 1,904,020 | | | $ | 1,487,663 | |
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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 leaseholds | | Trademarks 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) | | Net | 353,692 | | | 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 exchange | 16,306 | | | 24,320 | | | 2,795 | | | 7,434 | | | | | 171 | | | 51,026 | | Other (2) | (12,127) | | | (42,442) | | | — | | | (13,583) | | | | | (16,601) | | | (84,753) | | Net change | 23,227 | | | 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.
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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: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Concerts | | Ticketing | | Sponsorship & 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) | | Net | 914,063 | | | 979,742 | | | 635,575 | | | | | 2,529,380 | | | | | | | | | | | | Acquisitions—current year | 29,934 | | | — | | | — | | | | | 29,934 | | Acquisitions—prior year | 1,399 | | | (106) | | | — | | | | | 1,293 | | | | | | | | | | | | Dispositions | (6,183) | | | — | | | — | | | | | (6,183) | | Foreign exchange | 7,933 | | | 29,147 | | | 27,852 | | | | | 64,932 | | | | | | | | | | | | Balance as of June 30, 2023: | | | | | | | | | | Goodwill | 1,382,509 | | | 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 | |
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