10-Q Filing

Live Nation Entertainment, Inc. CIK: 1335258 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001335258-16-000187`
Period End Date	20160331
Filing Date	20160503
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	lyv-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 44 Cash Flow Statement 60 Comprehensive Income 12

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.41M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.61B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.70B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.38B	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$17.17M	USD	Point-in-time
Accounts receivable, less allowance of $18,411 and $17,168, respectively	`AccountsReceivableNetCurrent`	$452.60M	USD	Point-in-time
Accounts receivable, less allowance of $18,411 and $17,168, respectively	`AccountsReceivableNetCurrent`	$480.68M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$496.23M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$747.66M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$38.63M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$36.36M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.97B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.29B	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$841.72M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$840.03M	USD	Point-in-time
Computer equipment and capitalized software	`ComputerEquipmentAndCapitalizedSoftware`	$505.23M	USD	Point-in-time
Computer equipment and capitalized software	`ComputerEquipmentAndCapitalizedSoftware`	$502.22M	USD	Point-in-time
Furniture and other equipment	`FurnitureAndFixturesGross`	$233.27M	USD	Point-in-time
Furniture and other equipment	`FurnitureAndFixturesGross`	$241.08M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$65.20M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$47.68M	USD	Point-in-time
Property, plant and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.65B	USD	Point-in-time
Property, plant and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.63B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$927.42M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$894.94M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$722.79M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$731.28M	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$785.30M	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$777.76M	USD	Point-in-time
Indefinite-lived intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$369.32M	USD	Point-in-time
Indefinite-lived intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$369.22M	USD	Point-in-time
Goodwill	`Goodwill`	$1.60B	USD	Point-in-time
Goodwill	`Goodwill`	$1.62B	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$385.25M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$464.06M	USD	Point-in-time
Total assets	`Assets`	$6.93B	USD	Point-in-time
Total assets	`Assets`	$6.16B	USD	Point-in-time
Accounts payable, client accounts	`AccountsPayableClientAccounts`	$802.72M	USD	Point-in-time
Accounts payable, client accounts	`AccountsPayableClientAccounts`	$662.94M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$76.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$58.61M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$686.66M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$620.14M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$618.64M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.35B	USD	Point-in-time
Current portion of long-term debt, net	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$43.99M	USD	Point-in-time
Current portion of long-term debt, net	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$42.35M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$32.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$29.08M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.93B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10B	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$1.99B	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$2.00B	USD	Point-in-time
Long-term deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$199.47M	USD	Point-in-time
Long-term deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$204.03M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$142.27M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$135.31M	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`	$263.71M	USD	Point-in-time
Redeemable noncontrolling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$264.09M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.02M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.02M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.43B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.42B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.12B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.08B	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`	$-112.91M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-111.66M	USD	Point-in-time
Total Live Nation stockholders equity	`StockholdersEquity`	$1.18B	USD	Point-in-time
Total Live Nation stockholders equity	`StockholdersEquity`	$1.24B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$220.27M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$209.97M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.45B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.40B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.16B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.93B	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$1.12B	USD	1 Quarter
Revenue	`Revenues`	$1.21B	USD	1 Quarter
Direct operating expenses	`DirectOperatingCosts`	$784.20M	USD	1 Quarter
Direct operating expenses	`DirectOperatingCosts`	$721.29M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$336.18M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$314.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$84.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$94.95M	USD	1 Quarter
Loss on disposal of operating assets	`GainLossOnDispositionOfAssets`	$-25.00K	USD	1 Quarter
Loss on disposal of operating assets	`GainLossOnDispositionOfAssets`	$-39.00K	USD	1 Quarter
Corporate expenses	`OtherGeneralExpense`	$24.36M	USD	1 Quarter
Corporate expenses	`OtherGeneralExpense`	$24.51M	USD	1 Quarter
Acquisition transaction expenses	`BusinessCombinationAcquisitionRelatedCosts`	$1.14M	USD	1 Quarter
Acquisition transaction expenses	`BusinessCombinationAcquisitionRelatedCosts`	$-527.00K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-33.29M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-23.93M	USD	1 Quarter
Interest expense	`InterestExpense`	$25.36M	USD	1 Quarter
Interest expense	`InterestExpense`	$25.43M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$556.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.56M	USD	1 Quarter
Equity in earnings of nonconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$592.00K	USD	1 Quarter
Equity in earnings of nonconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.98M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-21.03M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$8.55M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-65.78M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-49.03M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.93M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$745.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-55.95M	USD	1 Quarter
Net loss	`ProfitLoss`	$-66.53M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-8.25M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-11.44M	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`	$-44.52M	USD	1 Quarter
Basic and diluted net loss per common share available to common stockholders of Live Nation	`EarningsPerShareBasicAndDiluted`	$-0.29	USD	1 Quarter
Basic and diluted net loss per common share available to common stockholders of Live Nation	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	201.70M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	200.16M	shares	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`	$-44.52M	USD	1 Quarter
Accretion of redeemable noncontrolling interests	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$3.89M	USD	1 Quarter
Accretion of redeemable noncontrolling interests	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$13.34M	USD	1 Quarter
Basic and diluted net loss available to common stockholders of Live Nation	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-62.17M	USD	1 Quarter
Basic and diluted net loss available to common stockholders of Live Nation	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-57.85M	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-55.95M	USD	1 Quarter
Net loss	`ProfitLoss`	$-66.53M	USD	1 Quarter
Depreciation	`Depreciation`	$32.13M	USD	1 Quarter
Depreciation	`Depreciation`	$33.07M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$61.89M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$52.41M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$4.37M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-1.70M	USD	1 Quarter
Amortization of debt issuance costs, discounts and premium, net	`AmortizationOfFinancingCostsAndDiscounts`	$2.64M	USD	1 Quarter
Amortization of debt issuance costs, discounts and premium, net	`AmortizationOfFinancingCostsAndDiscounts`	$2.59M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$9.50M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$8.92M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$3.57M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-4.62M	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$47.70M	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$16.88M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$305.29M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$210.39M	USD	1 Quarter
Increase in accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$79.09M	USD	1 Quarter
Increase in accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAccruedExpensesAndOtherLiabilities`	$11.54M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$707.04M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$563.26M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$347.66M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$517.40M	USD	1 Quarter
Advances and collections of notes receivable, net	`PaymentsToAcquireNotesReceivable`	$664.00K	USD	1 Quarter
Advances and collections of notes receivable, net	`PaymentsToAcquireNotesReceivable`	$4.83M	USD	1 Quarter
Investments made in nonconsolidated affiliates	`PaymentsToAcquireEquityMethodInvestments`	$5.17M	USD	1 Quarter
Investments made in nonconsolidated affiliates	`PaymentsToAcquireEquityMethodInvestments`	$3.91M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.36M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.68M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$43.38M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$15.88M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$1.69M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$762.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.58M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.74M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$8.68M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$9.76M	USD	1 Quarter
Distributions to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$3.86M	USD	1 Quarter
Distributions to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$15.46M	USD	1 Quarter
Purchases and sales of noncontrolling interests, net	`PurchasesAndSalesOfNoncontrollingInterest`	-	USD	1 Quarter
Purchases and sales of noncontrolling interests, net	`PurchasesAndSalesOfNoncontrollingInterest`	$8.30M	USD	1 Quarter
Payments for deferred and contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	$2.00M	USD	1 Quarter
Payments for deferred and contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	$15.68M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-12.38M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.47M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.29M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-24.32M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$17.79M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-48.13M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$396.16M	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`	$1.30B	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`	$1.70B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.38B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.30B	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`	$1.70B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.38B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-55.95M	USD	1 Quarter
Net loss	`ProfitLoss`	$-66.53M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.25M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-44.67M	USD	1 Quarter
Other	`OtherComprehensiveIncomeOtherNetOfTax`	-	USD	1 Quarter
Other	`OtherComprehensiveIncomeOtherNetOfTax`	$200.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-110.99M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-57.20M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-11.44M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-8.25M	USD	1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation	`ComprehensiveIncomeNetOfTax`	$-45.77M	USD	1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation	`ComprehensiveIncomeNetOfTax`	$-102.75M	USD	1 Quarter

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