v3.24.3
LONG-LIVED ASSETS
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Property, Plant, and Equipment and Intangible Assets
Property, Plant and Equipment, Net
Property, plant and equipment includes expenditures for the construction of new venues, major renovations to existing buildings or buildings that are being added to our venue network, the development of new ticketing tools and technology enhancements along with the renewal and improvement of existing venues and technology systems, web development and administrative offices.
Property, plant and equipment, net, consisted of the following:
September 30, 2024December 31, 2023
(in thousands)
Land, buildings and improvements$2,243,158 $2,043,595 
Computer equipment and capitalized software926,193 888,065 
Furniture and other equipment744,635 646,966 
Construction in progress399,353 317,028 
Property, plant and equipment, gross4,313,339 3,895,654 
Less: accumulated depreciation1,937,471 1,794,191 
Property, plant and equipment, net$2,375,868 $2,101,463 
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 nine months ended September 30, 2024:
Revenue-
generating
contracts		Client /
vendor
relationships		Venue managementTrademarks
and
naming
rights
Technology and Other (1)
Total
(in thousands)
Balance as of December 31, 2023:
Gross carrying amount
$925,257 $583,436 $226,788 $183,493 $20,220 $1,939,194 
Accumulated amortization
(336,625)(251,649)(79,218)(104,036)(6,045)(777,573)
Net588,632 331,787 147,570 79,457 14,175 1,161,621 
Gross carrying amount:
Acquisitions and additions—current year
68,453 48,937 1,256 3,000 7,939 129,585 
Acquisitions and additions—prior year
826 4,066 453 (2)— 5,343 
Foreign exchange(58,063)(16,985)(2,191)(8,810)(94)(86,143)
Other (2)
(15,575)(20,132)(23,930)(3,213)(823)(63,673)
Net change(4,359)15,886 (24,412)(9,025)7,022 (14,888)
Accumulated amortization:
Amortization
(82,677)(64,266)(17,887)(13,585)(6,535)(184,950)
Foreign exchange15,438 4,612 107 2,521 (12)22,666 
Other (2)
15,575 20,132 24,032 2,863 936 63,538 
Net change(51,664)(39,522)6,252 (8,201)(5,611)(98,746)
Balance as of September 30, 2024:
Gross carrying amount
920,898 599,322 202,376 174,468 27,242 1,924,306 
Accumulated amortization
(388,289)(291,171)(72,966)(112,237)(11,656)(876,319)
Net$532,609 $308,151 $129,410 $62,231 $15,586 $1,047,987 

(1) Other primarily includes intangible assets for non-compete agreements.
(2) Other primarily includes netdowns of fully amortized or impaired assets.
Included in the current year acquisitions amounts above are definite-lived intangible assets primarily associated with the acquisitions of a festival promotion business, an artist management business and a concert promotion company, all located in the United States.
The 2024 acquisitions and additions to definite-lived intangible assets had weighted-average lives as follows:
Weighted-
Average
Life (years)
Revenue-generating contracts9
Client/vendor relationships5
Trademarks and naming rights10
Venue management3
Technology3
All categories7
Amortization of definite-lived intangible assets for the three months ended September 30, 2024 and 2023 was $61.3 million and $63.4 million, respectively, and for the nine months ended September 30, 2024 and 2023 was $185.0 million and $176.1 million, respectively. As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization expense may vary.
Goodwill
The following table presents the changes in the carrying amount of goodwill in each of our reportable segments for the nine months ended September 30, 2024:
ConcertsTicketingSponsorship
& Advertising		Total
(in thousands)
Balance as of December 31, 2023:
Goodwill $1,439,579 $1,012,530 $674,720 $3,126,829 
Accumulated impairment losses(435,363)— — (435,363)
                 Net1,004,216 1,012,530 674,720 2,691,466 
Acquisitions—current year25,797 507 1,015 27,319 
Acquisitions—prior year4,136 — — 4,136 
Foreign exchange911 (31,056)(22,768)(52,913)
Balance as of September 30, 2024:
Goodwill1,470,423 981,981 652,967 3,105,371 
Accumulated impairment losses(435,363)— — (435,363)
                 Net$1,035,060 $981,981 $652,967 $2,670,008 
Included in the current year acquisitions amounts above are goodwill primarily associated with the acquisitions of a festival promotion business, an artist management business and a concert promotion company, all located in the United States.
We are in various stages of finalizing our acquisition accounting for recent acquisitions, which may include the use of external valuation consultants, and the completion of this accounting could result in a change to the associated purchase price allocations, including goodwill and our allocation between segments.
Investments in Nonconsolidated Affiliates
At September 30, 2024 and December 31, 2023, we had investments in nonconsolidated affiliates of $514.9 million and $447.5 million, respectively, included in other long-term assets on our consolidated balance sheets.