10-Q Filing

Live Nation Entertainment, Inc. CIK: 1335258 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001335258-17-000068`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	lyv-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 42 Cash Flow Statement 58 Comprehensive Income 12

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.23B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.70B	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$28.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30B	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$29.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.53B	USD	Point-in-time
Accounts receivable, less allowance of $28,492 and $29,634, respectively	`AccountsReceivableNetCurrent`	$568.94M	USD	Point-in-time
Accounts receivable, less allowance of $28,492 and $29,634, respectively	`AccountsReceivableNetCurrent`	$584.64M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$739.79M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$528.25M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.77M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$49.46M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.67B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.60B	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$838.54M	USD	Point-in-time
Land, buildings and improvements	`LandBuildingsAndImprovements`	$858.67M	USD	Point-in-time
Computer equipment and capitalized software	`ComputerEquipmentAndCapitalizedSoftware`	$524.57M	USD	Point-in-time
Computer equipment and capitalized software	`ComputerEquipmentAndCapitalizedSoftware`	$543.46M	USD	Point-in-time
Furniture and other equipment	`FurnitureAndFixturesGross`	$256.76M	USD	Point-in-time
Furniture and other equipment	`FurnitureAndFixturesGross`	$275.20M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$125.43M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$124.28M	USD	Point-in-time
Property, plant and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.80B	USD	Point-in-time
Property, plant and equipment, gross	`PropertyPlantAndEquipmentGross`	$1.75B	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$993.77M	USD	Point-in-time
Less accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$1.02B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$782.17M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$751.54M	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$820.73M	USD	Point-in-time
Definite-lived intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$812.03M	USD	Point-in-time
Indefinite-lived intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$368.80M	USD	Point-in-time
Indefinite-lived intangible assets	`IndefiniteLivedIntangibleAssetsExcludingGoodwill`	$368.77M	USD	Point-in-time
Goodwill	`Goodwill`	$1.75B	USD	Point-in-time
Goodwill	`Goodwill`	$1.72B	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$526.26M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$411.29M	USD	Point-in-time
Total assets	`Assets`	$7.82B	USD	Point-in-time
Total assets	`Assets`	$6.76B	USD	Point-in-time
Accounts payable, client accounts	`AccountsPayableClientAccounts`	$856.16M	USD	Point-in-time
Accounts payable, client accounts	`AccountsPayableClientAccounts`	$726.48M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$55.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$68.26M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$707.81M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$781.49M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$1.80B	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$804.97M	USD	Point-in-time
Current portion of long-term debt, net	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$59.94M	USD	Point-in-time
Current portion of long-term debt, net	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$53.32M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$39.05M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$51.14M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.46B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.54B	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$2.26B	USD	Point-in-time
Long-term debt, net	`LongTermDebtAndCapitalLeaseObligations`	$2.26B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$197.81M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$203.21M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$143.28M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$149.79M	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`	$338.32M	USD	Point-in-time
Redeemable noncontrolling interests	`RedeemableNoncontrollingInterestEquityCarryingAmount`	$347.07M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.03M	USD	Point-in-time
Common stock	`CommonStockValue`	$2.05M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.38B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.39B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.07B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.11B	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`	$-176.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-165.23M	USD	Point-in-time
Total Live Nation stockholders equity	`StockholdersEquity`	$1.13B	USD	Point-in-time
Total Live Nation stockholders equity	`StockholdersEquity`	$1.12B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$223.82M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$223.50M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.35B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.34B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$7.82B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$6.76B	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$1.41B	USD	1 Quarter
Revenue	`Revenues`	$1.21B	USD	1 Quarter
Direct operating expenses	`DirectOperatingCosts`	$925.50M	USD	1 Quarter
Direct operating expenses	`DirectOperatingCosts`	$784.20M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$383.31M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$337.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$100.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$94.95M	USD	1 Quarter
Loss (gain) on disposal of operating assets	`GainLossOnDispositionOfAssets`	$-25.00K	USD	1 Quarter
Loss (gain) on disposal of operating assets	`GainLossOnDispositionOfAssets`	$659.00K	USD	1 Quarter
Corporate expenses	`OtherGeneralExpense`	$24.61M	USD	1 Quarter
Corporate expenses	`OtherGeneralExpense`	$25.80M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-33.29M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-21.37M	USD	1 Quarter
Interest expense	`InterestExpense`	$26.01M	USD	1 Quarter
Interest expense	`InterestExpense`	$25.43M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$556.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$945.00K	USD	1 Quarter
Equity in earnings of nonconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$2.34M	USD	1 Quarter
Equity in earnings of nonconsolidated affiliates	`IncomeLossFromEquityMethodInvestments`	$592.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$2.84M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$8.55M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-41.25M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-49.03M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.52M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.93M	USD	1 Quarter
Net loss	`ProfitLoss`	$-47.77M	USD	1 Quarter
Net loss	`ProfitLoss`	$-55.95M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-14.78M	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`	$-44.52M	USD	1 Quarter
Net loss attributable to common stockholders of Live Nation	`NetIncomeLoss`	$-32.99M	USD	1 Quarter
Basic and diluted net loss per common share available to common stockholders of Live Nation	`EarningsPerShareBasicAndDiluted`	$-0.22	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 (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	201.70M	shares	1 Quarter
Basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	203.73M	shares	1 Quarter
Net loss attributable to common stockholders of Live Nation	`NetIncomeLoss`	$-44.52M	USD	1 Quarter
Net loss attributable to common stockholders of Live Nation	`NetIncomeLoss`	$-32.99M	USD	1 Quarter
Accretion of redeemable noncontrolling interests	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$12.58M	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`	$-57.85M	USD	1 Quarter
Basic and diluted net loss available to common stockholders of Live Nation	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-45.57M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-47.77M	USD	1 Quarter
Net loss	`ProfitLoss`	$-55.95M	USD	1 Quarter
Depreciation	`Depreciation`	$33.07M	USD	1 Quarter
Depreciation	`Depreciation`	$35.91M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$64.68M	USD	1 Quarter
Amortization	`AdjustmentForAmortization`	$61.89M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-1.70M	USD	1 Quarter
Deferred income tax expense (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-1.20M	USD	1 Quarter
Amortization of debt issuance costs, discounts and premium, net	`AmortizationOfFinancingCostsAndDiscounts`	$2.59M	USD	1 Quarter
Amortization of debt issuance costs, discounts and premium, net	`AmortizationOfFinancingCostsAndDiscounts`	$3.12M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$8.92M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$7.94M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-4.62M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-492.00K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$6.56M	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$16.88M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$312.48M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$305.29M	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`	$56.60M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$707.04M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$959.97M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$517.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$760.70M	USD	1 Quarter
Investments made in nonconsolidated affiliates	`PaymentsToAcquireEquityMethodInvestments`	$5.17M	USD	1 Quarter
Investments made in nonconsolidated affiliates	`PaymentsToAcquireEquityMethodInvestments`	$10.61M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$30.68M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$58.88M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$4.70M	USD	1 Quarter
Cash paid for acquisitions, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$43.38M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$6.52M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$838.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-85.74M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-75.03M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$11.78M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$9.76M	USD	1 Quarter
Distributions to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$12.23M	USD	1 Quarter
Distributions to noncontrolling interests	`PaymentsOfDividendsMinorityInterest`	$15.46M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$21.63M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$679.00K	USD	1 Quarter
Payments for deferred and contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	$15.68M	USD	1 Quarter
Payments for deferred and contingent consideration	`PaymentsOfMergerRelatedCostsFinancingActivities`	$1.07M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.62M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-13.06M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.29M	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`	$20.36M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$396.16M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$700.96M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.23B	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`	$1.30B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.53B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.23B	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`	$1.30B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.53B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-47.77M	USD	1 Quarter
Net loss	`ProfitLoss`	$-55.95M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-1.25M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$11.40M	USD	1 Quarter
Other	`OtherComprehensiveIncomeOtherNetOfTax`	-	USD	1 Quarter
Other	`OtherComprehensiveIncomeOtherNetOfTax`	$80.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-57.20M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-36.29M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-14.78M	USD	1 Quarter
Comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-11.44M	USD	1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation	`ComprehensiveIncomeNetOfTax`	$-21.52M	USD	1 Quarter
Comprehensive loss attributable to common stockholders of Live Nation	`ComprehensiveIncomeNetOfTax`	$-45.77M	USD	1 Quarter

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