LONG-LIVED ASSETS (Tables)

12 Months Ended

Dec. 31, 2019

Property, plant and equipment, net, consisted of the following:


	December 31,
	2019		2018
	(in thousands)
Land, buildings and improvements	$	1,181,876	$	984,558
Computer equipment and capitalized software	800,990		742,737
Furniture and other equipment	380,174		329,607
Construction in progress	176,275		160,028
	2,539,315		2,216,930
Less accumulated depreciation	1,421,383		1,270,337
	$	1,117,932	$	946,593

Gross Carrying Amount and Accumulated Amortization of Definite-Lived Intangible Assets

The following table presents the changes in the gross carrying amount and accumulated amortization of definite-lived intangible assets for the years ended December 31, 2019 and 2018:


	Revenue- generating contracts		Client / vendor relationships		Trademarks and naming rights		Venue management & Leaseholds		Technology		Other ⁽¹⁾		Total
	(in thousands)
Balance as of December 31, 2017:
Gross carrying amount	$	789,363	$	341,449	$	126,331	$	63,135	$	63,666	$	72,096	$	1,456,040
Accumulated amortization	(410,011)		(186,357)		(32,681)		(35,953)		(22,745)		(39,028)		(726,775)
Net	379,352		155,092		93,650		27,182		40,921		33,068		729,265
Gross carrying amount:
Acquisitions—current year	6,128		84,146		2,067		15,402		30,029		—		137,772
Acquisitions—prior year	4,447		—		—		1,900		—		—		6,347
Dispositions	—		(11,812)		—		—		—		(18,754)		(30,566)
Foreign exchange	(14,426)		(7,378)		(1,756)		(1,989)		(1,626)		(1,220)		(28,395)
Other ⁽²⁾	(92,549)		(12,633)		(2,935)		(8,400)		(6,658)		(2,007)		(125,182)
Net change	(96,400)		52,323		(2,624)		6,913		21,745		(21,981)		(40,024)
Accumulated amortization:
Amortization	(81,291)		(52,879)		(12,633)		(7,185)		(23,727)		(12,938)		(190,653)
Dispositions	—		8,146		—		—		—		13,238		21,384
Foreign exchange	7,526		4,813		536		1,235		973		744		15,827
Other ⁽²⁾	92,774		12,678		2,970		8,396		6,673		2,161		125,652
Net change	19,009		(27,242)		(9,127)		2,446		(16,081)		3,205		(27,790)
Balance as of December 31, 2018:
Gross carrying amount	692,963		393,772		123,707		70,048		85,411		50,115		1,416,016
Accumulated amortization	(391,002)		(213,599)		(41,808)		(33,507)		(38,826)		(35,823)		(754,565)
Net	301,961		180,173		81,899		36,541		46,585		14,292		661,451
Gross carrying amount:
Acquisitions—current year	94,464		209,398		29,061		80,643		13,839		8,075		435,480
Acquisitions—prior year	—		—		—		43		—		—		43

Foreign exchange	(4,713)		90		91		896		356		(208)		(3,488)
Other ⁽²⁾	(82,157)		(75,770)		76		(2,044)		(12,268)		(32,763)		(204,926)
Net change	7,594		133,718		29,228		79,538		1,927		(24,896)		227,109
Accumulated amortization:
Amortization	(94,439)		(65,059)		(14,513)		(10,683)		(27,512)		(11,326)		(223,532)

Foreign exchange	1,331		(473)		(96)		(553)		(152)		122		179
Other ⁽²⁾	82,088		75,770		1		2,044		12,270		32,761		204,934
Net change	(11,020)		10,238		(14,608)		(9,192)		(15,394)		21,557		(18,419)
Balance as of December 31, 2019:
Gross carrying amount	700,557		527,490		152,935		149,586		87,338		25,219		1,643,125
Accumulated amortization	(402,022)		(203,361)		(56,416)		(42,699)		(54,220)		(14,266)		(772,984)
Net	$	298,535	$	324,129	$	96,519	$	106,887	$	33,118	$	10,953	$	870,141

^{___________________}

⁽¹⁾Other primarily includes intangible assets for non-compete agreements.

⁽²⁾ Other primarily includes netdowns of fully amortized or impaired assets.

Weighted Average Lives of Additions to Definite-Lived Intangible Assets

The 2019 and 2018 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows:


	Weighted- Average Life
	2019	2018
	(in years)
Revenue-generating contracts	8	7
Client/vendor relationships	9	7
Trademarks and naming rights	8	3
Technology	2	3

Venue management and leaseholds	10	12
Other	5	—
All categories	8	7

Estimate of Amortization Expense for Each of the Five Succeeding Fiscal Years for Definite-Lived Intangible Assets

The following table presents our estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets that exist at December 31, 2019:


	(in thousands)
2020	$	219,927
2021	$	153,233
2022	$	122,808
2023	$	103,253
2024	$	85,218

Changes in Goodwill by Segment

The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the years ended December 31, 2019 and 2018:


	Concerts		Ticketing		Sponsorship & Advertising		Total
	(in thousands)
Balance as of December 31, 2017:
Goodwill	$	1,015,913	$	761,786	$	401,753	$	2,179,452
Accumulated impairment losses	(424,863)		—		—		(424,863)
Net	591,050		761,786		401,753		1,754,589

Acquisitions—current year	42,841		5,875		3,902		52,618
Acquisitions—prior year	53,541		—		1,697		55,238
Dispositions	(7,053)		—		—		(7,053)
Impairment	(10,500)		—		—		(10,500)
Foreign exchange	(10,638)		(4,708)		(6,603)		(21,949)

Balance as of December 31, 2018:
Goodwill	1,094,604		762,953		400,749		2,258,306
Accumulated impairment losses	(435,363)		—		—		(435,363)
Net	659,241		762,953		400,749		1,822,943

Acquisitions—current year	121,355		4,017		38,421		163,793
Acquisitions—prior year	8,428		—		—		8,428


Foreign exchange	1,670		(707)		2,371		3,334

Balance as of December 31, 2019:
Goodwill	1,226,057		766,263		441,541		2,433,861
Accumulated impairment losses	(435,363)		—		—		(435,363)
Net	$	790,694	$	766,263	$	441,541	$	1,998,498

Investments in Nonconsolidated Affiliates

Summarized balance sheet and income statement information for these entities is as follows (at 100%):


	December 31,
	2019		2018
	(in thousands)
Current assets	$	40,937	$	71,685
Noncurrent assets	$	6,845	$	4,074
Current liabilities	$	35,662	$	42,470

Noncontrolling interests	$	1,624	$	1,095


	Year Ended December 31,
	2019		2018		2017
	(in thousands)
Revenue	$	54,173	$	56,857	$	56,078
Operating income	$	30,262	$	34,841	$	29,684
Net income	$	23,969	$	28,554	$	24,116
Net income attributable to the common stockholders of the equity investees	$	23,440	$	27,935	$	23,995