Company Quick10K Filing
Live Nation
Price66.70 EPS1
Shares219 P/E119
MCap14,604 P/FCF444
Net Debt886 EBIT292
TEV15,491 TEV/EBIT53
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-06-30 Filed 2020-08-05
10-Q 2020-03-31 Filed 2020-05-07
10-K 2019-12-31 Filed 2020-02-27
10-Q 2019-09-30 Filed 2019-10-31
10-Q 2019-06-30 Filed 2019-07-25
10-Q 2019-03-31 Filed 2019-05-02
10-K 2018-12-31 Filed 2019-02-28
10-Q 2018-09-30 Filed 2018-11-01
10-Q 2018-06-30 Filed 2018-07-26
10-Q 2018-03-31 Filed 2018-05-03
10-K 2017-12-31 Filed 2018-02-27
10-Q 2017-09-30 Filed 2017-11-02
10-Q 2017-06-30 Filed 2017-08-09
10-Q 2017-03-31 Filed 2017-05-04
10-K 2016-12-31 Filed 2017-02-23
10-Q 2016-09-30 Filed 2016-11-07
10-Q 2016-06-30 Filed 2016-07-28
10-Q 2016-03-31 Filed 2016-05-03
10-K 2015-12-31 Filed 2016-02-25
10-Q 2015-09-30 Filed 2015-10-29
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-04-30
10-K 2014-12-31 Filed 2015-02-26
10-Q 2014-09-30 Filed 2014-10-30
10-Q 2014-06-30 Filed 2014-07-31
10-Q 2014-03-31 Filed 2014-05-06
10-K 2013-12-31 Filed 2014-02-24
10-Q 2013-09-30 Filed 2013-11-05
10-Q 2013-06-30 Filed 2013-08-06
10-Q 2013-03-31 Filed 2013-05-07
10-K 2012-12-31 Filed 2013-02-26
10-Q 2012-09-30 Filed 2012-11-05
10-Q 2012-06-30 Filed 2012-08-07
10-Q 2012-03-31 Filed 2012-05-10
10-K 2011-12-31 Filed 2012-02-24
10-Q 2011-09-30 Filed 2011-11-03
10-Q 2011-06-30 Filed 2011-08-08
10-Q 2011-03-31 Filed 2011-05-05
10-K 2010-12-31 Filed 2011-02-28
10-Q 2010-06-30 Filed 2010-08-05
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-02-25
8-K 2020-08-05 Earnings, Exhibits
8-K 2020-07-29 Enter Agreement, Off-BS Arrangement, Other Events, Exhibits
8-K 2020-06-03
8-K 2020-05-25
8-K 2020-05-20
8-K 2020-05-07
8-K 2020-04-09
8-K 2020-02-27
8-K 2020-02-03
8-K 2019-10-31
8-K 2019-10-17
8-K 2019-07-25
8-K 2019-07-24
8-K 2019-06-06
8-K 2019-05-02
8-K 2019-02-28
8-K 2018-12-18
8-K 2018-11-01
8-K 2018-07-26
8-K 2018-06-06
8-K 2018-05-04
8-K 2018-05-03
8-K 2018-03-15
8-K 2018-02-27
8-K 2018-01-12

LYV 10Q Quarterly Report

Part I - Financial Information
Item 1. Financial Statements
Note 1 - Basis of Presentation and Other Information
Note 2 - Impact of The Global Covid - 19 Pandemic
Note 3 - Long - Lived Assets
Note 4 - Leases
Note 5 - Long - Term Debt
Note 6 - Derivative Instruments
Note 7 - Fair Value Measurements
Note 8 - Commitments and Contingent Liabilities
Note 9 - Equity
Note 10 - Revenue Recognition
Note 11 - Stock - Based Compensation
Note 12 - Segment Data
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 5. Other Information
Item 6. Exhibits
EX-10.1 lyv-20200630xex101.htm
EX-10.2 lyv-20200630xex102.htm
EX-10.3 lyv-20200630xex103.htm
EX-10.4 lyv-20200630xex104.htm
EX-10.5 lyv-20200630xex105.htm
EX-31.1 lyv-20200630xex311.htm
EX-31.2 lyv-20200630xex312.htm
EX-32.1 lyv-20200630xex321.htm
EX-32.2 lyv-20200630xex322.htm

Live Nation Earnings 2020-06-30

Balance SheetIncome StatementCash Flow
151296302012201420172020
Assets, Equity
3.93.12.31.40.6-0.22012201420172020
Rev, G Profit, Net Income
0.80.60.30.1-0.2-0.42012201420172020
Ops, Inv, Fin

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________ 
Form 10-Q
____________________________________ 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2020
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                  to                
Commission File Number 001-32601
____________________________________ 
LIVE NATION ENTERTAINMENT, INC.
(Exact name of registrant as specified in its charter)
____________________________________
Delaware 20-3247759
(State of Incorporation) (I.R.S. Employer Identification No.)

9348 Civic Center Drive
Beverly Hills, CA 90210
(Address of principal executive offices, including zip code)
(310) 867-7000
(Registrant’s telephone number, including area code)
______________________________________________________________ 
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $.01 Par Value Per ShareLYVNew York Stock Exchange
(Includes Preferred Stock Purchase Rights)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     x  Yes    ¨  No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes  x    No  ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerxAccelerated Filer ¨
Non-accelerated Filer¨Smaller Reporting Company 
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).      Yes    x  No
On July 29, 2020, there were 217,254,777 outstanding shares of the registrant’s common stock, $0.01 par value per share, including 5,125,963 shares of unvested restricted and deferred stock awards and excluding 408,024 shares held in treasury.




LIVE NATION ENTERTAINMENT, INC.
INDEX TO FORM 10-Q

  Page
PART I—FINANCIAL INFORMATION
PART II—OTHER INFORMATION



GLOSSARY OF KEY TERMS
AOCIAccumulated other comprehensive income (loss)
AOIAdjusted operating income (loss)
FASBFinancial Accounting Standards Board
GAAPUnited States Generally Accepted Accounting Principles
Live Nation
Live Nation Entertainment, Inc. and subsidiaries
LNE
Live Nation Entertainment, Inc.
SECUnited States Securities and Exchange Commission
Ticketmaster
Our ticketing business



Table of Contents
PART I—FINANCIAL INFORMATION
Item 1. Financial Statements
LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
June 30,
2020
December 31,
2019
(in thousands)
ASSETS
Current assets
    Cash and cash equivalents$3,290,052  $2,470,362  
    Accounts receivable, less allowance of $69,778 and $50,516, respectively
618,580  994,606  
    Prepaid expenses446,062  667,044  
    Restricted cash10,313  3,880  
    Other current assets68,187  57,007  
Total current assets4,433,194  4,192,899  
Property, plant and equipment, net1,121,665  1,117,932  
Operating lease assets1,420,649  1,402,019  
Intangible assets
    Definite-lived intangible assets, net936,837  870,141  
    Indefinite-lived intangible assets368,762  368,954  
Goodwill2,012,641  1,998,498  
Long-term advances877,580  593,699  
Other long-term assets450,972  431,473  
Total assets$11,622,300  $10,975,615  
LIABILITIES AND EQUITY
Current liabilities
    Accounts payable, client accounts$835,981  $1,005,888  
    Accounts payable124,806  100,237  
    Accrued expenses1,088,153  1,391,486  
    Deferred revenue1,157,311  1,391,032  
    Current portion of long-term debt, net63,885  37,795  
    Current portion of operating lease liabilities119,473  121,950  
    Other current liabilities102,687  59,211  
Total current liabilities3,492,296  4,107,599  
Long-term debt, net4,831,088  3,271,262  
Long-term operating lease liabilities1,412,190  1,374,481  
Long-term deferred income taxes177,749  178,173  
Other long-term liabilities691,219  130,648  
Commitments and contingent liabilities
Redeemable noncontrolling interests334,228  449,498  
Stockholders' equity
    Common stock2,125  2,113  
    Additional paid-in capital2,295,069  2,245,619  
    Accumulated deficit(1,704,599) (949,334) 
    Cost of shares held in treasury(6,865) (6,865) 
    Accumulated other comprehensive loss(243,805) (145,713) 
Total Live Nation stockholders' equity341,925  1,145,820  
Noncontrolling interests341,605  318,134  
Total equity683,530  1,463,954  
Total liabilities and equity$11,622,300  $10,975,615  

See Notes to Consolidated Financial Statements
2

Table of Contents
LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)
 Three Months Ended
June 30,
Six Months Ended
June 30,
 2020201920202019
 (in thousands except share and per share data)
Revenue$74,084  $3,157,009  $1,439,777  $4,884,837  
Operating expenses:
Direct operating expenses194,557  2,327,414  1,068,377  3,479,018  
Selling, general and administrative expenses323,352  513,497  837,373  978,363  
Depreciation and amortization122,767  103,826  244,847  202,738  
Loss (gain) on disposal of operating assets559  (101) 689  (248) 
Corporate expenses20,916  40,787  49,228  77,243  
Operating income (loss)(588,067) 171,586  (760,737) 147,723  
Interest expense52,689  36,792  96,688  73,307  
Interest income(2,429) (3,818) (6,902) (6,366) 
Equity in losses (earnings) of nonconsolidated affiliates6,613  (5,828) 4,041  (8,972) 
Other income, net(5,173) (430) (545) (3,833) 
Income (loss) before income taxes(639,767) 144,870  (854,019) 93,587  
Income tax expense (benefit)(29,183) 28,750  (32,513) 32,708  
Net income (loss)(610,584) 116,120  (821,506) 60,879  
Net income (loss) attributable to noncontrolling interests(43,067) 12,765  (69,205) 9,968  
Net income (loss) attributable to common stockholders of Live Nation$(567,517) $103,355  $(752,301) $50,911  
Basic net income (loss) per common share available to common stockholders of Live Nation
$(2.67) $0.43  $(3.62) $0.12  
Diluted net income (loss) per common share available to common stockholders of Live Nation
$(2.67) $0.41  $(3.62) $0.11  
Weighted average common shares outstanding:
Basic211,693,923  209,998,048  211,371,109  209,456,196  
Diluted211,693,923  219,977,612  211,371,109  219,107,351  
Reconciliation to net income (loss) available to common stockholders of Live Nation:
Net income (loss) attributable to common stockholders of Live Nation
$(567,517) $103,355  $(752,301) $50,911  
Accretion of redeemable noncontrolling interests1,595  (13,515) (12,945) (25,827) 
Net income (loss) available to common stockholders of Live Nation—basic
(565,922) 89,840  (765,246) 25,084  
Convertible debt interest, net of tax  86      
Net income (loss) available to common stockholders of Live Nation—diluted
$(565,922) $89,926  $(765,246) $25,084  

See Notes to Consolidated Financial Statements
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Table of Contents
LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)

 Three Months Ended
June 30,
Six Months Ended
June 30,
 2020201920202019
 (in thousands)
Net income (loss)$(610,584) $116,120  $(821,506) $60,879  
Other comprehensive income (loss), net of tax:
Unrealized loss on cash flow hedge(5,765)   (36,596)   
Realized loss on cash flow hedge1,353    1,353    
Foreign currency translation adjustments19,933  (671) (62,849) (3,560) 
Comprehensive income (loss)(595,063) 115,449  (919,598) 57,319  
Comprehensive income (loss) attributable to noncontrolling interests
(43,067) 12,765  (69,205) 9,968  
Comprehensive income (loss) attributable to common stockholders of Live Nation
$(551,996) $102,684  $(850,393) $47,351  

See Notes to Consolidated Financial Statements
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LIVE NATION ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
(UNAUDITED)


Live Nation Stockholders’ Equity
Common Shares IssuedCommon StockAdditional Paid-In CapitalAccumulated DeficitCost of Shares Held in TreasuryAccumulated Other Comprehensive LossNoncontrolling InterestsTotal EquityRedeemable Noncontrolling Interests
(in thousands, except share data)(in thousands)
Balances at March 31, 2020211,834,739  $2,118  $2,260,509  $(1,137,082) $(6,865) $(259,326) $371,478  $1,230,832  $443,606  
Non-cash and stock-based compensation—  —  38,538  —  —  —  —  38,538  —  
Common stock issued under stock plans, net of shares withheld for employee taxes79,079  1  (217) —  —  —  —  (216) —  
Exercise of stock options, net of shares withheld for option cost and employee taxes609,329  6  (4,734) —  —  —  —  (4,728) —  
Fair value of convertible debt conversion feature, net of issuance cost—  —  17  —  —  —  —  17  —  
Acquisitions—  —  —  —  —  —  4,157  4,157  751  
Divestitures—  —  —  —  —  —  593  593  —  
Purchases of noncontrolling interests—  —  (454) —  —  —    (454) (89,779) 
Redeemable noncontrolling interests fair value adjustments—  —  1,595  —  —  —  —  1,595  (1,595) 
Contributions received—  —  —  —  —  —  1,391  1,391    
Cash distributions—  —  —  —  —  —  (7,915) (7,915) (3,287) 
Other—  —  (185) —  —  —  (501) (686) 1  
Comprehensive loss:
Net loss—  —  —  (567,517) —  —  (27,598) (595,115) (15,469) 
Unrealized loss on cash flow hedge—  —  —  —  —  (5,765) —  (5,765) —  
Realized loss on cash flow hedge—  —  —  —  —  1,353  —  1,353  —  
Foreign currency translation adjustments—  —  —  —  —  19,933  —  19,933  —  
Balances at June 30, 2020212,523,147  $2,125  $2,295,069  $(1,704,599) $(6,865) $(243,805) $341,605  $683,530  $334,228  


See Notes to Consolidated Financial Statements
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Table of Contents




Live Nation Stockholders’ Equity
Common Shares IssuedCommon StockAdditional Paid-In CapitalAccumulated DeficitCost of Shares Held in TreasuryAccumulated Other Comprehensive LossNoncontrolling InterestsTotal EquityRedeemable Noncontrolling Interests
(in thousands, except share data)(in thousands)
Balances at December 31, 2019211,262,062  $2,113  $2,245,619  $(949,334) $(6,865) $(145,713) $318,134  $1,463,954  $449,498  
Cumulative effect of change in accounting principle—  —  —  (2,964) —  —  —  (2,964) —  
Non-cash and stock-based compensation—  —  50,279  —  —  —  —  50,279  —  
Common stock issued under stock plans, net of shares withheld for employee taxes341,249  3  (7,665) —  —  —  —  (7,662) —  
Exercise of stock options, net of shares withheld for option cost and employee taxes919,836  9  1,719  —  —  —  —  1,728  —  
Fair value of convertible debt conversion feature, net of issuance cost—  —  33,347  —  —  —  —  33,347  —  
Acquisitions—  —  —  —  —  —  35,322  35,322  11,899  
Divestitures—  —  —  —  —  —  593  593  —  
Purchases of noncontrolling interests—  —  (6,939) —  —  —  (1,032) (7,971) (96,190) 
Sales of noncontrolling interests—  —  (8,161) —  —  —  39,161  31,000  —  
Redeemable noncontrolling interests fair value adjustments—  —  (12,945) —  —  —  —  (12,945) 12,945  
Contributions received—  —  —  —  —  —  1,467  1,467    
Cash distributions—  —  —  —  —  —  (12,683) (12,683) (13,632) 
Other—  —  (185) —  —  —  (445) (630) 1  
Comprehensive loss:
Net loss—  —  —  (752,301)