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10-Q Filing

Live Nation Entertainment, Inc. CIK: 1335258 Q1 2015
Filing Information
Form Type 10-Q
Accession Number 0001335258-15-000047
Period End Date 20150331
Filing Date 20150430
Fiscal Year 2015
Fiscal Period Q1
XBRL Instance lyv-20150331.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $17.49M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.38B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.63B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.61B USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $20.14M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.30B USD Point-in-time
Accounts receivable, less allowance of $20,141 and $17,489, respectively AccountsReceivableNetCurrent $419.30M USD Point-in-time
Accounts receivable, less allowance of $20,141 and $17,489, respectively AccountsReceivableNetCurrent $434.54M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $440.27M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $573.84M USD Point-in-time
Other current assets OtherAssetsCurrent $38.07M USD Point-in-time
Other current assets OtherAssetsCurrent $26.09M USD Point-in-time
Total current assets AssetsCurrent $2.27B USD Point-in-time
Total current assets AssetsCurrent $2.65B USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovements $808.12M USD Point-in-time
Land, buildings and improvements LandBuildingsAndImprovements $795.03M USD Point-in-time
Computer equipment and capitalized software ComputerEquipmentAndCapitalizedSoftware $454.93M USD Point-in-time
Computer equipment and capitalized software ComputerEquipmentAndCapitalizedSoftware $457.30M USD Point-in-time
Furniture and other equipment FurnitureAndFixturesGross $207.83M USD Point-in-time
Furniture and other equipment FurnitureAndFixturesGross $209.62M USD Point-in-time
Construction in progress ConstructionInProgressGross $78.11M USD Point-in-time
Construction in progress ConstructionInProgressGross $86.10M USD Point-in-time
Property, plant and equipment, gross PropertyPlantAndEquipmentGross $1.55B USD Point-in-time
Property, plant and equipment, gross PropertyPlantAndEquipmentGross $1.55B USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $855.44M USD Point-in-time
Less accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $870.47M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $695.34M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $675.79M USD Point-in-time
Definite-lived intangible assets, net FiniteLivedIntangibleAssetsNet $682.71M USD Point-in-time
Definite-lived intangible assets, net FiniteLivedIntangibleAssetsNet $665.00M USD Point-in-time
Indefinite-lived intangible assets IndefiniteLivedIntangibleAssetsExcludingGoodwill $369.48M USD Point-in-time
Indefinite-lived intangible assets IndefiniteLivedIntangibleAssetsExcludingGoodwill $369.32M USD Point-in-time
Goodwill Goodwill $1.42B USD Point-in-time
Goodwill Goodwill $1.48B USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $553.56M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $474.10M USD Point-in-time
Total assets Assets $5.97B USD Point-in-time
Total assets Assets $6.34B USD Point-in-time
Accounts payable, client accounts AccountsPayableClientAccounts $734.54M USD Point-in-time
Accounts payable, client accounts AccountsPayableClientAccounts $658.11M USD Point-in-time
Accounts payable AccountsPayableCurrent $74.15M USD Point-in-time
Accounts payable AccountsPayableCurrent $59.76M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $544.47M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $675.88M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $543.12M USD Point-in-time
Deferred revenue DeferredRevenueCurrent $1.08B USD Point-in-time
Current portion of long-term debt, net LongTermDebtAndCapitalLeaseObligationsCurrent $47.44M USD Point-in-time
Current portion of long-term debt, net LongTermDebtAndCapitalLeaseObligationsCurrent $64.10M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $12.04M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $22.22M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.01B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.51B USD Point-in-time
Long-term debt, net LongTermDebtAndCapitalLeaseObligations $1.97B USD Point-in-time
Long-term debt, net LongTermDebtAndCapitalLeaseObligations $2.00B USD Point-in-time
Long-term deferred income taxes DeferredTaxLiabilitiesNoncurrent $195.39M USD Point-in-time
Long-term deferred income taxes DeferredTaxLiabilitiesNoncurrent $196.76M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $112.20M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $111.89M 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 RedeemableNoncontrollingInterestEquityCarryingAmount $168.85M USD Point-in-time
Redeemable noncontrolling interests RedeemableNoncontrollingInterestEquityCarryingAmount $166.82M USD Point-in-time
Common stock CommonStockValue $2.01M USD Point-in-time
Common stock CommonStockValue $2.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.42B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $2.41B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.10B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-1.04B USD Point-in-time
Cost of shares held in treasury TreasuryStockValue $6.87M USD Point-in-time
Cost of shares held in treasury TreasuryStockValue $6.87M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-70.01M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-114.48M USD Point-in-time
Total Live Nation stockholders equity StockholdersEquity $1.30B USD Point-in-time
Total Live Nation stockholders equity StockholdersEquity $1.20B USD Point-in-time
Noncontrolling interests MinorityInterest $186.89M USD Point-in-time
Noncontrolling interests MinorityInterest $192.60M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.48B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.39B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $5.97B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $6.34B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue Revenues $1.13B USD 1 Quarter
Revenue Revenues $1.12B USD 1 Quarter
Direct operating expenses DirectOperatingCosts $721.29M USD 1 Quarter
Direct operating expenses DirectOperatingCosts $731.15M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $302.40M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $314.55M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $82.59M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $84.54M USD 1 Quarter
Loss on disposal of operating assets GainLossOnDispositionOfAssets $-506.00K USD 1 Quarter
Loss on disposal of operating assets GainLossOnDispositionOfAssets $-39.00K USD 1 Quarter
Corporate expenses OtherGeneralExpense $21.17M USD 1 Quarter
Corporate expenses OtherGeneralExpense $24.36M USD 1 Quarter
Acquisition transaction expenses BusinessCombinationAcquisitionRelatedCosts $1.80M USD 1 Quarter
Acquisition transaction expenses BusinessCombinationAcquisitionRelatedCosts $-527.00K USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-23.93M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-12.31M USD 1 Quarter
Interest expense InterestExpense $24.49M USD 1 Quarter
Interest expense InterestExpense $25.36M USD 1 Quarter
Interest income InvestmentIncomeInterest $1.56M USD 1 Quarter
Interest income InvestmentIncomeInterest $666.00K USD 1 Quarter
Equity in earnings of nonconsolidated affiliates IncomeLossFromEquityMethodInvestments $2.81M USD 1 Quarter
Equity in earnings of nonconsolidated affiliates IncomeLossFromEquityMethodInvestments $2.98M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $1.18M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $-21.03M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-65.78M USD 1 Quarter
Loss before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-32.15M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $-2.06M USD 1 Quarter
Income tax expense (benefit) IncomeTaxExpenseBenefit $745.00K USD 1 Quarter
Net loss ProfitLoss $-66.53M USD 1 Quarter
Net loss ProfitLoss $-30.10M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $2.35M USD 1 Quarter
Net income (loss) attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $-8.25M USD 1 Quarter
Net loss attributable to common stockholders of Live Nation NetIncomeLoss $-58.28M USD 1 Quarter
Net loss attributable to common stockholders of Live Nation NetIncomeLoss $-32.45M USD 1 Quarter
Basic and diluted net loss per common share attributable to common stockholders of Live Nation EarningsPerShareBasicAndDiluted $-0.17 USD 1 Quarter
Basic and diluted net loss per common share attributable to common stockholders of Live Nation EarningsPerShareBasicAndDiluted $-0.31 USD 1 Quarter
Basic and diluted (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 197.86M shares 1 Quarter
Basic and diluted (in shares) WeightedAverageNumberOfShareOutstandingBasicAndDiluted 200.16M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-66.53M USD 1 Quarter
Net loss ProfitLoss $-30.10M USD 1 Quarter
Depreciation Depreciation $30.62M USD 1 Quarter
Depreciation Depreciation $32.13M USD 1 Quarter
Amortization AdjustmentForAmortization $52.41M USD 1 Quarter
Amortization AdjustmentForAmortization $51.97M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $4.37M USD 1 Quarter
Deferred income tax expense (benefit) DeferredIncomeTaxExpenseBenefit $-8.73M USD 1 Quarter
Amortization of debt issuance costs, discounts and premium, net AmortizationOfFinancingCostsAndDiscounts $4.74M USD 1 Quarter
Amortization of debt issuance costs, discounts and premium, net AmortizationOfFinancingCostsAndDiscounts $2.64M USD 1 Quarter
Non-cash compensation expense ShareBasedCompensation $9.50M USD 1 Quarter
Non-cash compensation expense ShareBasedCompensation $10.02M USD 1 Quarter
Loss on disposal of operating assets GainLossOnDispositionOfAssets $-506.00K USD 1 Quarter
Loss on disposal of operating assets GainLossOnDispositionOfAssets $-39.00K USD 1 Quarter
Equity in earnings of nonconsolidated affiliates, net of distributions IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $1.90M USD 1 Quarter
Equity in earnings of nonconsolidated affiliates, net of distributions IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions $71.00K USD 1 Quarter
Other, net OtherNoncashIncomeExpense $3.54M USD 1 Quarter
Other, net OtherNoncashIncomeExpense $3.17M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $77.98M USD 1 Quarter
Increase in accounts receivable IncreaseDecreaseInAccountsReceivable $47.70M USD 1 Quarter
Increase in prepaid expenses IncreaseDecreaseInPrepaidExpense $162.28M USD 1 Quarter
Increase in prepaid expenses IncreaseDecreaseInPrepaidExpense $166.76M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $16.50M USD 1 Quarter
Increase in other assets IncreaseDecreaseInOtherOperatingAssets $43.63M USD 1 Quarter
Increase in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities $38.07M USD 1 Quarter
Increase in accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities $6.42M USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInDeferredRevenue $531.34M USD 1 Quarter
Increase in deferred revenue IncreaseDecreaseInDeferredRevenue $563.26M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $342.55M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $366.61M USD 1 Quarter
Investments made in nonconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $823.00K USD 1 Quarter
Investments made in nonconsolidated affiliates PaymentsToAcquireEquityMethodInvestments $3.91M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $24.52M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $29.36M USD 1 Quarter
Cash paid for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $15.88M USD 1 Quarter
Cash paid for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $11.63M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $1.43M USD 1 Quarter
Other, net PaymentsForProceedsFromOtherInvestingActivities $554.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-50.58M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-37.53M USD 1 Quarter
Proceeds from long-term debt, net of debt issuance costs ProceedsFromDebtNetOfIssuanceCosts $101.00K USD 1 Quarter
Proceeds from long-term debt, net of debt issuance costs ProceedsFromDebtNetOfIssuanceCosts $43.00K USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $6.55M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $8.68M USD 1 Quarter
Contributions from noncontrolling interests ProceedsFromMinorityShareholders $81.00K USD 1 Quarter
Contributions from noncontrolling interests ProceedsFromMinorityShareholders - USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $4.20M USD 1 Quarter
Distributions to noncontrolling interests PaymentsOfDividendsMinorityInterest $3.86M USD 1 Quarter
Purchases and sales of noncontrolling interests, net PurchasesAndSalesOfNoncontrollingInterest $102.00K USD 1 Quarter
Purchases and sales of noncontrolling interests, net PurchasesAndSalesOfNoncontrollingInterest $8.30M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $7.92M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $3.54M USD 1 Quarter
Payments for deferred and contingent consideration PaymentsOfMergerRelatedCostsFinancingActivities $1.95M USD 1 Quarter
Payments for deferred and contingent consideration PaymentsOfMergerRelatedCostsFinancingActivities $2.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-4.75M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-19.20M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-48.13M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $5.64M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $329.96M USD 1 Quarter
Net increase in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $224.63M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.38B USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.63B USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.61B USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $1.30B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.38B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.63B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.61B USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $1.30B USD Point-in-time
Comprehensive Income 16 line items
Line Item Tag Value Unit Period
Net loss ProfitLoss $-66.53M USD 1 Quarter
Net loss ProfitLoss $-30.10M USD 1 Quarter
Unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $182.00K USD 1 Quarter
Unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-3.00K USD 1 Quarter
Realized loss on cash flow hedges OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $-13.00K USD 1 Quarter
Realized loss on cash flow hedges OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $-17.00K USD 1 Quarter
Change in funded status of defined benefit pension plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-30.00K USD 1 Quarter
Change in funded status of defined benefit pension plan OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-5.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-44.67M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $9.82M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-110.99M USD 1 Quarter
Comprehensive loss ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-20.23M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $2.35M USD 1 Quarter
Comprehensive income (loss) attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-8.25M USD 1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation ComprehensiveIncomeNetOfTax $-102.75M USD 1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation ComprehensiveIncomeNetOfTax $-22.59M USD 1 Quarter

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

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