v3.24.3
CORRECTION OF ERRORS (Tables)
 3 Months Ended 9 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Sep. 30, 2023
Accounting Changes and Error Corrections [Abstract]      
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]
The following table presents the impact of correcting the errors on the affected line items of our consolidated balance sheet as of December 31, 2023:
December 31, 2023
As ReportedAdjustmentsAs Revised
(in thousands)
Accounts receivable$2,069,054 $(44,405)$2,024,649 
Total current assets9,577,754 (44,405)9,533,349 
Total assets19,074,045 (44,405)19,029,640 
Accrued expenses3,006,281 24,531 3,030,812 
Total current liabilities9,959,903 24,531 9,984,434 
Redeemable noncontrolling interests893,709 (33,779)859,930 
Total Live Nation stockholders' equity(17,148)(35,157)(52,305)
Total equity587,157 (35,157)552,000 
Total liabilities and equity19,074,045 (44,405)19,029,640 
The following table presents the impact of correcting the errors on the affected line items of our consolidated statement of operations for the three months ended September 30, 2023:
Three Months Ended September 30, 2023
As ReportedAdjustmentsAs Revised
(in thousands except per share data)
Revenue$8,152,019 $2,544 $8,154,563 
Direct operating expenses6,330,465 (32,582)6,297,883 
Operating income618,532 35,126 653,658 
Income before income taxes596,555 35,126 631,681 
Income tax expense55,874 (5,605)50,269 
Net income540,681 40,731 581,412 
Net income attributable to noncontrolling interests57,186 2,746 59,932 
Net income attributable to common stockholders of Live Nation483,495 37,985 521,480 
Basic net income per common share available to common stockholders of Live Nation1.85 0.16 2.01 
Diluted net income per common share available to common stockholders of Live Nation1.78 0.15 1.93 
The following table presents the impact of correcting the errors on the affected line items of our consolidated statement of comprehensive income (loss) for the three months ended September 30, 2023:
Three Months Ended September 30, 2023
As ReportedAdjustmentsAs Revised
(in thousands)
Net income$540,681 $40,731 $581,412 
Comprehensive income493,670 40,731 534,401 
Comprehensive income attributable to noncontrolling interests57,186 2,746 $59,932 
Comprehensive income attributable to common stockholders of Live Nation 436,484 37,985 474,469 
The following table presents the impact of correcting the errors on the affected line items of our consolidated statement of operations for the nine months ended September 30, 2023:
Nine Months Ended September 30, 2023
As ReportedAdjustmentsAs Revised
(in thousands except per share data)
Revenue$16,910,132 $(2,496)$16,907,636 
Direct operating expenses12,610,832 (21,226)12,589,606 
Operating income1,147,679 18,730 1,166,409 
Income before income taxes1,037,572 18,730 1,056,302 
Income tax expense121,362 5,708 127,070 
Net income916,210 13,022 929,232 
Net income attributable to noncontrolling interests142,202 (2,797)139,405 
Net income attributable to common stockholders of Live Nation774,008 15,819 789,827 
Basic net income per common share available to common stockholders of Live Nation2.63 0.07 2.70 
Diluted net income per common share available to common stockholders of Live Nation2.59 0.07 2.66 
The following table presents the impact of correcting the errors on the affected line items of our consolidated statement of comprehensive income (loss) for the nine months ended September 30, 2023:
Nine Months Ended September 30, 2023
As ReportedAdjustmentsAs Revised
(in thousands)
Net income$916,210 $13,022 $929,232 
Comprehensive income1,018,528 13,022 1,031,550 
Comprehensive income attributable to noncontrolling interests142,202 (2,797)139,405 
Comprehensive income attributable to common stockholders of Live Nation 876,326 15,819 892,145 
The following table presents the impact of correcting the errors on the affected line items of our consolidated statement of cash flow for the nine months ended September 30, 2023:
Nine Months Ended September 30, 2023
As ReportedAdjustmentsAs Revised
(in thousands)
Net income$916,210 $13,022 $929,232 
Increase in accounts receivable(1,014,739)(15,714)(1,030,453)
Increase in accounts payable, accrued expenses and other liabilities916,619 (13,022)903,597 
Decrease in deferred revenue(150,487)7,894 (142,593)
Net cash provided by operating activities762,441 (7,820)754,621 
Net increase in cash, cash equivalents and restricted cash342,988 (7,820)335,168 
Cash, cash equivalents and restricted cash at beginning of period5,612,374 7,820 5,620,194