DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations

The following table presents the aggregate carrying amounts of major classes of assets and liabilities in the consolidated balance sheets related to the SD&T segment as of September 30, 2024 and December 31, 2023, are as follows (in thousands):

	September 30,			December 31,
	2024			2023
Assets of discontinued operations:
Accounts receivable	$	156,036		$	128,933
Deferred costs		40,300			20,963
Other current assets		24,547			20,563
Current assets of discontinued operations		220,883			170,459
Property and equipment, net		35,630			30,262
Operating lease right-of-use assets		9,459			10,691
Intangible assets, net		412,327			400,081
Goodwill		443,024			634,696
Investments(1)		27,320			3,792
Deferred income taxes		1,036			426
Other assets		21,265			22,219
Valuation allowance		(434,070	)		—
Long-term assets of discontinued operations		515,991			1,102,167
Total assets of discontinued operations	$	736,874		$	1,272,626
Liabilities of discontinued operations:
Accounts payable	$	102,841		$	125,247
Accrued liabilities		26,028			26,335
Current portion of operating lease liabilities		2,144			2,330
Deferred revenue		41,284			5,225
Other current liabilities		36,087			40,139
Current liabilities of discontinued operations		208,384			199,276
Long-term operating lease liabilities		6,750			8,532
Deferred tax liabilities		84,761			81,188
Other long-term liabilities		10,200			12,657
Long-term liabilities of discontinued operations		101,711			102,377
Total liabilities of discontinued operations	$	310,095		$	301,653

(1) During the three months ended September 30, 2024, the Company committed to funding $20.0 million for a new investment.

The following table presents the statements of operations for the discontinued operations of the SD&T segment for the three and nine months ended September 30, 2024 and 2023 (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Revenue	$	85,429		$	124,847		$	279,721		$	356,271
Operating expenses:
Direct operating costs		58,076			56,809			176,331			177,618
Selling, general and administrative expenses		50,639			43,726			147,469			132,547
Depreciation and amortization		900			14,605			24,060			37,320
Impairment charges(1)		—			—			205,928			—
Total operating expenses		109,615			115,140			553,788			347,485
Operating (loss) income		(24,186	)		9,707			(274,067	)		8,786
Other (expense) income:
Interest income, net		430			315			994			451
Other (expense) income, net(2)		(418,351	)		126			(437,641	)		(319	)
(Loss) income from discontinued operations before income taxes and equity losses of affiliates		(442,107	)		10,148			(710,714	)		8,918
(Benefit from) provision for income taxes		(208,229	)		9,142			(23,962	)		10,385
(Loss) income from discontinued operations before equity losses of affiliates		(233,878	)		1,006			(686,752	)		(1,467	)
Equity losses of affiliates, net of tax		(172	)		—			(172	)		—
(Loss) income from discontinued operations, net of tax		(234,050	)		1,006			(686,924	)		(1,467	)
(Loss) income attributable to non-controlling interests		(104,125	)		3,531			(253,487	)		1,824
Loss from discontinued operations attributable to Endeavor Group Holdings, Inc.	$	(129,925	)	$	(2,525	)	$	(433,437	)	$	(3,291	)

(1) During the first and second quarters of 2024, the Company performed an interim impairment review of the SD&T reporting unit due to triggering events. As a result of the interim impairment tests, the Company recorded non-cash impairment charges of $205.9 million in the nine months ended September 30, 2024 for goodwill driven by lower streaming and data rights projections combined with the transaction method calculation.

(2) The Company recorded a $420.1 million and $434.1 million loss to write-down the SD&T segment's carrying value to its estimated fair value less costs to sell in the three and nine months ended September 30, 2024, respectively.