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Condensed Consolidated And Combined Statements Of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Revenues [1] $ 228,313 $ 201,229 $ 773,191 $ 703,561
Direct operating costs [1] (142,021) (115,133) (446,459) (397,398)
Selling, general and administrative expenses [1] (53,945) (44,122) (151,156) (127,537)
Depreciation and amortization (13,182) (14,798) (39,972) (46,369)
(Loss) gains, net on dispositions 0 (51) 0 4,361
Restructuring charges (2,362) (2,461) (14,803) (9,820)
Operating income 16,803 24,664 120,801 126,798
Interest income [1] 341 2,482 2,275 5,804
Interest expense (14,425) (13,423) (43,761) (38,055)
Other income (expense), net 78 8,070 (1,545) 6,784
Income from operations before income taxes 2,797 21,793 77,770 101,331
Income tax expense (2) (73) (397) (804)
Net income 2,795 21,720 77,373 100,527
Less: Net loss attributable to nonredeemable noncontrolling interest 0 0 0 (553)
Net income attributable to MSG Entertainment’s stockholders $ 2,795 $ 21,720 $ 77,373 $ 101,080
Income per share attributable to MSG Entertainment’s stockholders:        
Basic (in dollars per share) $ 0.06 $ 0.42 $ 1.59 $ 1.95
Diluted (in dollars per share) $ 0.06 $ 0.42 $ 1.58 $ 1.95
Weighted-average number of shares of common stock:        
Basic (in shares) [2] 48,109 51,768 48,675 51,768
Diluted (in shares) [2] 48,447 51,768 48,883 51,768
Revenues from entertainment offerings        
Revenues [1] $ 146,221 $ 129,260 $ 581,025 $ 524,331
Entertainment offerings, arena license fees, and other leasing direct operating expenses        
Direct operating costs [1] (112,997) (90,296) (375,786) (332,290)
Food, beverage, and merchandise revenues        
Revenues [1] 45,380 39,954 127,379 112,412
Direct operating costs [1] (29,024) (24,837) (70,673) (65,108)
Arena license fees and other leasing revenue        
Revenues [1] $ 36,712 $ 32,015 $ 64,787 $ 66,818
[1] See Note 14. Related Party Transactions for further information on related party arrangements.
[2] On April 20, 2023, 51,768 common shares were distributed to Sphere Entertainment Co. stockholders in the MSGE Distribution (as defined in Note 1. Description of Business and Basis of Presentation). This share amount is being utilized for the calculation of basic and diluted loss per common share attributable to Madison Square Garden Entertainment Corp.’s stockholders for the three and nine months ended March 31, 2023 because the Company was not a standalone public company prior to the MSGE Distribution.