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10-Q Filing

Live Nation Entertainment, Inc. CIK: 1335258 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001335258-13-000007
Period End Date 20130331
Filing Date 20130507
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance lyv-20130331.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $844.25M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.25B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.00B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.07B USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $20.28M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $19.79M USD Point-in-time
Accounts receivable, less allowance of $20,276 and $19,794, respectively AccountsReceivableNetCurrent $486.17M USD Point-in-time
Accounts receivable, less allowance of $20,276 and $19,794, respectively AccountsReceivableNetCurrent $415.79M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $359.94M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $537.25M USD Point-in-time
Other current assets OtherAssetsCurrent $36.03M USD Point-in-time
Other current assets OtherAssetsCurrent $49.94M USD Point-in-time
Total current assets AssetsCurrent $1.81B USD Point-in-time
Total current assets AssetsCurrent $2.32B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovements $852.17M USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovements $823.77M USD Point-in-time
Computer equipment and capitalized software ComputerEquipmentAndCapitalizedSoftware $354.17M USD Point-in-time
Computer equipment and capitalized software ComputerEquipmentAndCapitalizedSoftware $338.92M USD Point-in-time
Furniture and other equipment FurnitureAndFixturesGross $200.74M USD Point-in-time
Furniture and other equipment FurnitureAndFixturesGross $197.33M USD Point-in-time
Construction in progress ConstructionInProgressGross $53.54M USD Point-in-time
Construction in progress ConstructionInProgressGross $56.82M USD Point-in-time
Property, plant and equipment, gross PropertyPlantAndEquipmentGross $1.45B USD Point-in-time
Property, plant and equipment, gross PropertyPlantAndEquipmentGross $1.43B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $726.87M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $727.49M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $701.31M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $721.79M USD Point-in-time
Definite-lived intangible assets, net FiniteLivedIntangibleAssetsNet $724.46M USD Point-in-time
Definite-lived intangible assets, net FiniteLivedIntangibleAssetsNet $683.05M USD Point-in-time
Indefinite-lived intangible assets IndefiniteLivedIntangibleAssetsExcludingGoodwill $375.90M USD Point-in-time
Indefinite-lived intangible assets IndefiniteLivedIntangibleAssetsExcludingGoodwill $377.46M USD Point-in-time
Goodwill Goodwill $1.33B USD Point-in-time
Goodwill Goodwill $1.36B USD Point-in-time
Investments in nonconsolidated affiliates EquityMethodInvestments $46.16M USD Point-in-time
Investments in nonconsolidated affiliates EquityMethodInvestments $47.73M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $250.29M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $232.17M USD Point-in-time
Total assets Assets $5.29B USD Point-in-time
Total assets Assets $5.69B USD Point-in-time
Accounts payable, client accounts AccountsPayableClientAccounts $557.95M USD Point-in-time
Accounts payable, client accounts AccountsPayableClientAccounts $609.85M USD Point-in-time
Accounts payable AccountsPayableCurrent $103.36M USD Point-in-time
Accounts payable AccountsPayableCurrent $102.72M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $572.31M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $626.72M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $890.75M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $402.00M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $61.37M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $62.05M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $16.73M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $15.52M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.77B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.25B USD Point-in-time
Long-term debt, net LongTermDebtAndCapitalLeaseObligations $1.67B USD Point-in-time
Long-term debt, net LongTermDebtAndCapitalLeaseObligations $1.68B USD Point-in-time
Long-term deferred income taxes DeferredTaxLiabilitiesNoncurrent $199.60M USD Point-in-time
Long-term deferred income taxes DeferredTaxLiabilitiesNoncurrent $196.84M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $94.41M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $93.00M USD Point-in-time
Commitments and contingent liabilities CommitmentsAndContingencies - USD Point-in-time
Commitments and contingent liabilities CommitmentsAndContingencies - USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestsEquityCarryingOrFairValueAmount $42.10M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestsEquityCarryingOrFairValueAmount $42.26M USD Point-in-time
Common stock CommonStockValue $1.92M USD Point-in-time
Common stock CommonStockValue $1.88M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.27B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.30B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-971.66M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-908.42M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-45.10M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-10.92M USD Point-in-time
Total Live Nation Entertainment, Inc. stockholders equity StockholdersEquity $1.28B USD Point-in-time
Total Live Nation Entertainment, Inc. stockholders equity StockholdersEquity $1.36B USD Point-in-time
Noncontrolling interests MinorityInterest $149.28M USD Point-in-time
Noncontrolling interests MinorityInterest $153.16M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.51B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.43B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.29B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.69B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue Revenues $923.70M USD 1 Quarter
Revenue Revenues $868.00M USD 1 Quarter
Direct operating expenses DirectOperatingCosts $576.93M USD 1 Quarter
Direct operating expenses DirectOperatingCosts $538.71M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $279.52M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $268.13M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $79.71M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $82.17M USD 1 Quarter
Gain on disposal of operating assets GainLossOnDispositionOfAssets $3.60M USD 1 Quarter
Gain on disposal of operating assets GainLossOnDispositionOfAssets $288.00K USD 1 Quarter
Corporate expenses OtherGeneralExpense $23.22M USD 1 Quarter
Corporate expenses OtherGeneralExpense $20.66M USD 1 Quarter
Acquisition transaction expenses BusinessCombinationAcquisitionRelatedCosts $1.21M USD 1 Quarter
Acquisition transaction expenses BusinessCombinationAcquisitionRelatedCosts $1.31M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-33.19M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-42.80M USD 1 Quarter
Interest expense InterestExpense $28.15M USD 1 Quarter
Interest expense InterestExpense $29.71M USD 1 Quarter
Interest income InvestmentIncomeInterest $900.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $1.77M USD 1 Quarter
Equity in earnings of nonconsolidated affiliates IncomeLossFromEquityMethodInvestments $3.88M USD 1 Quarter
Equity in earnings of nonconsolidated affiliates IncomeLossFromEquityMethodInvestments $2.58M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $1.78M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $-3.64M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-65.95M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-60.63M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $3.56M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $4.28M USD 1 Quarter
Net loss ProfitLoss $-64.19M USD 1 Quarter
Net loss ProfitLoss $-70.23M USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-1.08M USD 1 Quarter
Net loss attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-948.00K USD 1 Quarter
Net loss attributable to common stockholders of Live Nation Entertainment, Inc. NetIncomeLoss $-63.24M USD 1 Quarter
Net loss attributable to common stockholders of Live Nation Entertainment, Inc. NetIncomeLoss $-69.15M USD 1 Quarter
Basic and diluted net loss per common share attributable to common stockholders of Live Nation Entertainment, Inc. (in dollars per share) EarningsPerShareBasicAndDiluted $-0.37 USD 1 Quarter
Basic and diluted net loss per common share attributable to common stockholders of Live Nation Entertainment, Inc. (in dollars per share) EarningsPerShareBasicAndDiluted $-0.33 USD 1 Quarter
Basic and diluted weighted average common shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 188.83M shares 1 Quarter
Basic and diluted weighted average common shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 186.52M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-64.19M USD 1 Quarter
Net loss ProfitLoss $-70.23M USD 1 Quarter
Depreciation Depreciation $28.94M USD 1 Quarter
Depreciation Depreciation $30.33M USD 1 Quarter
Amortization AdjustmentForAmortization $51.84M USD 1 Quarter
Amortization AdjustmentForAmortization $50.78M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-3.23M USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-3.60M USD 1 Quarter
Amortization of debt issuance costs and discount/premium, net AmortizationOfFinancingCostsAndDiscounts $3.40M USD 1 Quarter
Amortization of debt issuance costs and discount/premium, net AmortizationOfFinancingCostsAndDiscounts $5.17M USD 1 Quarter
Non-cash compensation expense ShareBasedCompensation $8.98M USD 1 Quarter
Non-cash compensation expense ShareBasedCompensation $6.30M USD 1 Quarter
Gain on disposal of operating assets GainLossOnDispositionOfAssets $3.60M USD 1 Quarter
Gain on disposal of operating assets GainLossOnDispositionOfAssets $288.00K USD 1 Quarter
Equity in earnings of nonconsolidated affiliates IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $3.88M USD 1 Quarter
Equity in earnings of nonconsolidated affiliates IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $2.58M USD 1 Quarter
Other, net ProceedsFromOtherOperatingActivities $107.00K USD 1 Quarter
Other, net ProceedsFromOtherOperatingActivities $691.00K USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $63.15M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $26.37M USD 1 Quarter
Increase in prepaid expenses IncreaseDecreaseInPrepaidExpense $181.93M USD 1 Quarter
Increase in prepaid expenses IncreaseDecreaseInPrepaidExpense $180.24M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $32.47M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $29.21M USD 1 Quarter
Increase in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities $54.79M USD 1 Quarter
Increase in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities $21.77M USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInDeferredRevenue $503.81M USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInDeferredRevenue $433.30M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $264.77M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $270.46M USD 1 Quarter
Distributions from nonconsolidated affiliates EquityMethodInvestmentDividendsOrDistributions $1.77M USD 1 Quarter
Distributions from nonconsolidated affiliates EquityMethodInvestmentDividendsOrDistributions $540.00K USD 1 Quarter
Investments made in nonconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $864.00K USD 1 Quarter
Investments made in nonconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $1.96M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $25.67M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $28.02M USD 1 Quarter
Proceeds from disposal of operating assets, net of cash divested ProceedsFromSaleOfPropertyPlantAndEquipment $5.65M USD 1 Quarter
Proceeds from disposal of operating assets, net of cash divested ProceedsFromSaleOfPropertyPlantAndEquipment $8.10M USD 1 Quarter
Purchases of intangible assets PaymentsToAcquireIntangibleAssets $10.00M USD 1 Quarter
Purchases of intangible assets PaymentsToAcquireIntangibleAssets $17.00K USD 1 Quarter
Decrease (increase) other, net PaymentsForProceedsFromOtherInvestingActivities $853.00K USD 1 Quarter
Decrease (increase) other, net PaymentsForProceedsFromOtherInvestingActivities $-525.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-18.64M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-32.17M USD 1 Quarter
Proceeds from long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $29.59M USD 1 Quarter
Proceeds from long-term debt, net of debt issuance costs ProceedsFromIssuanceOfLongTermDebt $89.27M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $96.67M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $36.84M USD 1 Quarter
Contributions from noncontrolling interests ProceedsFromMinorityShareholders $267.00K USD 1 Quarter
Contributions from noncontrolling interests ProceedsFromMinorityShareholders $130.00K USD 1 Quarter
Distributions to noncontrolling interests PaymentsToMinorityShareholders $3.23M USD 1 Quarter
Distributions to noncontrolling interests PaymentsToMinorityShareholders $1.22M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $408.00K USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $22.33M USD 1 Quarter
Payments for deferred and contingent consideration PaymentsOfMergerRelatedCostsFinancingActivities $10.59M USD 1 Quarter
Payments for deferred and contingent consideration PaymentsOfMergerRelatedCostsFinancingActivities $750.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-20.53M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $13.22M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-19.68M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $15.09M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $245.36M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $227.16M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $844.25M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.25B USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.00B USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.07B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $844.25M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.25B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.00B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.07B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-64.19M USD 1 Quarter
Net loss ProfitLoss $-70.23M USD 1 Quarter
Unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $70.00K USD 1 Quarter
Unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-5.00K USD 1 Quarter
Realized loss on cash flow hedges CashFlowHedgeGainLossReclassifiedToEarningsNet - USD 1 Quarter
Realized loss on cash flow hedges CashFlowHedgeGainLossReclassifiedToEarningsNet $8.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-34.26M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $25.32M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-98.37M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-44.91M USD 1 Quarter
Comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-1.08M USD 1 Quarter
Comprehensive loss attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-948.00K USD 1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation Entertainment, Inc. ComprehensiveIncomeNetOfTax $-43.83M USD 1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation Entertainment, Inc. ComprehensiveIncomeNetOfTax $-97.42M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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