Live Nation Entertainment (LYV) 10-Q 31 Oct 19 2019 Q3 Quarterly report Financial data

DOCUMENT

DOCUMENT - shares	9 Months Ended
	Sep. 30, 2019	Oct. 24, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-32601
Entity Registrant Name	LIVE NATION ENTERTAINMENT, INC.
Entity Central Index Key	0001335258
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3247759
Entity Address, Address Line One	9348 Civic Center Drive
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90210
City Area Code	310
Local Phone Number	867-7000
Title of 12(b) Security	Common stock, $.01 Par Value Per Share
Trading Symbol	LYV
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		213,715,534

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 1,795,166	$ 2,371,540
Accounts receivable, less allowance of $41,932 and $34,225, respectively	1,215,465	829,320
Accounts Receivable, Allowance		34,225
Prepaid expenses	772,196	597,866
Restricted cash	13,628	6,663
Other current assets	53,268	42,685
Total current assets	3,849,723	3,848,074
Property, plant and equipment
Land, buildings and improvements	1,116,305	984,558
Computer equipment and capitalized software	787,966	742,737
Furniture and other equipment	362,978	329,607
Construction in progress	163,470	160,028
Property, plant and equipment, gross	2,430,719	2,216,930
Less accumulated depreciation	1,382,580	1,270,337
Property, plant and equipment, net	1,048,139	946,593
Operating lease assets	1,145,487	0
Intangible assets
Definite-lived intangible assets, net	678,790	661,451
Indefinite-lived intangible assets	368,756	368,854
Goodwill	1,915,215	1,822,943
Long-term advances	563,815	420,891
Other long-term assets	397,208	428,080
Total assets	9,967,133	8,496,886
Current liabilities
Accounts payable, client accounts	985,214	1,037,162
Accounts payable	119,910	90,253
Accrued expenses	1,511,883	1,245,465
Deferred revenue	1,115,874	1,227,797
Current portion of long-term debt, net	64,274	82,142
Current portion of operating lease liabilities	122,299	0
Other current liabilities	39,918	67,047
Total current liabilities	3,959,372	3,749,866
Long-term debt, net	2,694,934	2,732,878
Long-term operating lease liabilities	1,092,538	0
Deferred income taxes	166,305	137,067
Other long-term liabilities	112,336	204,977
Commitments and contingent liabilities
Redeemable non-controlling interests	418,816	329,355
Stockholders' equity
Common stock	2,111	2,091
Additional paid-in capital	2,262,461	2,268,209
Accumulated deficit	(789,387)	(1,019,223)
Cost of shares held in treasury	(6,865)	(6,865)
Accumulated other comprehensive loss	(181,047)	(145,231)
Total Live Nation stockholders' equity	1,287,273	1,098,981
Non-controlling interests	235,559	243,762
Total equity	1,522,832	1,342,743
Total liabilities and equity	$ 9,967,133	$ 8,496,886

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018
Current assets
Accounts receivable allowance for doubtful accounts	$ 34,225	$ 41,932

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 3,773,684	$ 3,835,246	$ 8,658,521	$ 8,185,945
Operating expenses:
Direct operating expenses	2,800,429	2,924,356	6,279,447	5,991,547
Selling, general and administrative expenses	542,547	524,654	1,520,910	1,435,703
Depreciation and amortization	126,306	99,606	329,044	277,262
Loss (gain) on disposal of operating assets	(305)	10,318	(553)	10,464
Corporate expenses	44,666	42,093	121,909	108,055
Operating income	260,041	234,219	407,764	362,914
Interest expense	36,587	35,993	109,894	104,196
Interest income	(5,863)	(2,260)	(12,229)	(6,148)
Equity in loss (earnings) of nonconsolidated affiliates	2,681	(4)	(6,291)	(3,406)
Other expense, net	5,384	262	1,551	7,033
Income before income taxes	221,252	200,228	314,839	261,239
Income tax expense	27,280	17,031	59,988	35,714
Net income	193,972	183,197	254,851	225,525
Net income attributable to noncontrolling interests	15,047	10,514	25,015	17,389
Net income attributable to common stockholders of Live Nation	$ 178,925	$ 172,683	$ 229,836	$ 208,136
Basic net income per common share available to common stockholders of Live Nation	$ 0.74	$ 0.73	$ 0.86	$ 0.74
Diluted net income per common share available to common stockholders of Live Nation	$ 0.71	$ 0.70	$ 0.83	$ 0.71
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Weighted average common shares—basic	210,621,971	207,614,413	209,849,058	207,228,034
Weighted average common shares—diluted	218,957,376	216,788,983	218,485,494	215,406,201
Reconciliation of net income available to common stockholders [Abstract]
Net income attributable to common stockholders of Live Nation	$ 178,925	$ 172,683	$ 229,836	$ 208,136
Accretion of redeemable noncontrolling interests	(23,580)	(20,789)	(49,407)	(54,347)
Net income available to common stockholders of Live Nation—basic	155,345	151,894	180,429	153,789
Convertible debt interest, net of tax	0	319	265	0
Net income available to common stockholders of Live Nation—diluted	$ 155,345	$ 152,213	$ 180,694	$ 153,789

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 193,972	$ 183,197	$ 254,851	$ 225,525
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(32,256)	(9,081)	(35,816)	(26,376)
Comprehensive income	161,716	174,116	219,035	199,149
Comprehensive income attributable to noncontrolling interests	15,047	10,514	25,015	17,389
Comprehensive income attributable to common stockholders of Live Nation	$ 146,669	$ 163,602	$ 194,020	$ 181,760

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Cost of Shares Held in Treasury [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Redeemable Noncontrolling Interests [Member]
Balances at Dec. 31, 2017	$ 1,418,144	$ 2,069	$ 2,374,006	$ (1,079,472)	$ (6,865)	$ (108,542)	$ 236,948
Balances (in shares) at Dec. 31, 2017		206,877,037
Equity [Roll Forward]
Non-cash and stock-based compensation	34,415		34,415
Common stock issued under stock plans, net of shares withheld for employee taxes	(8,685)	$ 4	(8,689)
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		365,502
Exercise of stock options, net of shares withheld for option cost and employee taxes	16,447	$ 10	16,437
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		1,016,963
Fair value of convertible debt conversion feature, net of issuance costs	62,624		62,624
Repurchase of convertible debt conversion feature	(92,641)		(92,641)
Acquisitions	21,770						21,770
Noncontrolling Interest, Decrease from Deconsolidation	(6,684)						(6,684)
Purchases of noncontrolling interests	(6,310)		(4,784)				(1,526)
Sales of noncontrolling interests	430		1,410				(980)
Redeemable noncontrolling interests fair value adjustments	(54,246)		(54,246)
Contributions received	7,501						7,501
Cash distributions	(33,481)						(33,481)
Other	(2,546)		(107)				(2,439)
Comprehensive income (loss):
Net income	220,567			208,136			12,431
Foreign currency translation adjustments	(26,376)					(26,376)
Balances at Sep. 30, 2018	1,550,929	$ 2,083	2,328,425	(871,336)	(6,865)	(134,918)	233,540
Balances (in shares) at Sep. 30, 2018		208,259,502
Balances at Dec. 31, 2017								$ 244,727
Redeemable Noncontrolling Interests [Roll Forward}
Acquisitions								20,911
Purchases of noncontrolling interests								(10,356)
Redeemable noncontrolling interests fair value adjustments								54,246
Contribution received								1,806
Cash distributions								(7,870)
Other								28
Comprehensive income (loss):
Net income (loss)								4,958
Balances at Sep. 30, 2018								308,450
Balances at Jun. 30, 2018	1,405,520	$ 2,079	2,337,691	(1,044,019)	(6,865)	(125,837)	242,471
Balances (in shares) at Jun. 30, 2018		207,869,835
Equity [Roll Forward]
Non-cash and stock-based compensation	11,095		11,095
Common stock issued under stock plans, net of shares withheld for employee taxes	(83)	$ 0	(83)
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		5,685
Exercise of stock options, net of shares withheld for option cost and employee taxes	5,593	$ 4	5,589
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		383,982
Acquisitions	(634)						(634)
Noncontrolling Interest, Decrease from Deconsolidation	(6,684)						(6,684)
Purchases of noncontrolling interests	(6,383)		(6,493)				110
Sales of noncontrolling interests	430		1,410				(980)
Redeemable noncontrolling interests fair value adjustments	(20,790)		(20,790)				0
Contributions received	2,601						2,601
Cash distributions	(10,212)						(10,212)
Other	25		6				19
Comprehensive income (loss):
Net income	179,532			172,683			6,849
Foreign currency translation adjustments	(9,081)					(9,081)
Balances at Sep. 30, 2018	1,550,929	$ 2,083	2,328,425	(871,336)	(6,865)	(134,918)	233,540
Balances (in shares) at Sep. 30, 2018		208,259,502
Balances at Jun. 30, 2018								293,194
Redeemable Noncontrolling Interests [Roll Forward}
Acquisitions								(959)
Purchases of noncontrolling interests								(10,000)
Redeemable noncontrolling interests fair value adjustments								20,790
Contribution received								1,806
Cash distributions								4
Other								(50)
Comprehensive income (loss):
Net income (loss)								3,665
Balances at Sep. 30, 2018								308,450
Balances at Dec. 31, 2018	1,342,743	$ 2,091	2,268,209	(1,019,223)	(6,865)	(145,231)	243,762
Balances (in shares) at Dec. 31, 2018		209,135,581
Equity [Roll Forward]
Non-cash and stock-based compensation	37,022		37,022
Common stock issued under stock plans, net of shares withheld for employee taxes	(10,578)	$ 3	(10,581)
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		322,314
Exercise of stock options, net of shares withheld for option cost and employee taxes	13,240	$ 9	13,231
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		843,833
Conversion of convertible debt	28,586	$ 8	28,578
Conversion of convertible debt (in shares)		824,328
Acquisitions	30,958						30,958
Purchases of noncontrolling interests	(27,541)		(24,576)				(2,965)
Redeemable noncontrolling interests fair value adjustments	(49,407)		(49,407)
Contributions received	13,124						13,124
Cash distributions	(60,300)						(60,300)
Other	(1,555)		(15)				(1,540)
Comprehensive income (loss):
Net income	242,356			229,836			12,520
Foreign currency translation adjustments	(35,816)					(35,816)
Balances at Sep. 30, 2019	1,522,832	$ 2,111	2,262,461	(789,387)	(6,865)	(181,047)	235,559
Balances (in shares) at Sep. 30, 2019		211,126,056
Balances at Dec. 31, 2018	329,355							329,355
Redeemable Noncontrolling Interests [Roll Forward}
Acquisitions								39,303
Purchases of noncontrolling interests								(1,459)
Redeemable noncontrolling interests fair value adjustments								49,407
Contribution received								0
Cash distributions								(12,882)
Other								2,597
Comprehensive income (loss):
Net income (loss)								12,495
Balances at Sep. 30, 2019	418,816							418,816
Balances at Jun. 30, 2019	1,407,756	$ 2,101	2,296,010	(968,312)	(6,865)	(148,791)	233,613
Balances (in shares) at Jun. 30, 2019		210,910,143
Equity [Roll Forward]
Non-cash and stock-based compensation	12,030		12,030
Common stock issued under stock plans, net of shares withheld for employee taxes	(319)	$ 0	(319)
Common stock issued under stock plans, net of shares withheld for employee taxes (in shares)		9,457
Exercise of stock options, net of shares withheld for option cost and employee taxes	3,041	$ 2	3,039
Exercise of stock options, net of shares withheld for option cost and employee taxes (in shares)		206,456
Conversion of convertible debt	0	$ 8	(8)
Conversion of convertible debt (in shares)		0
Acquisitions	4,790						4,790
Purchases of noncontrolling interests	(27,541)		(24,846)				(2,695)
Redeemable noncontrolling interests fair value adjustments	(23,580)		(23,580)
Contributions received	4,800						4,800
Cash distributions	(8,185)						(8,185)
Other	(144)		135				(279)
Comprehensive income (loss):
Net income	182,440			178,925			3,515
Foreign currency translation adjustments	(32,256)					(32,256)
Balances at Sep. 30, 2019	1,522,832	$ 2,111	$ 2,262,461	$ (789,387)	$ (6,865)	$ (181,047)	$ 235,559
Balances (in shares) at Sep. 30, 2019		211,126,056
Balances at Jun. 30, 2019								385,328
Redeemable Noncontrolling Interests [Roll Forward}
Acquisitions								0
Purchases of noncontrolling interests								0
Redeemable noncontrolling interests fair value adjustments								23,580
Contribution received								0
Cash distributions								(1,624)
Other								0
Comprehensive income (loss):
Net income (loss)								11,532
Balances at Sep. 30, 2019	$ 418,816							$ 418,816

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 254,851	$ 225,525
Reconciling items:
Depreciation	163,004	133,718
Amortization	166,040	143,544
Amortization of non-recoupable ticketing contract advances	54,120	55,893
Amortization of debt issuance costs and discounts, net	16,300	14,765
Non-cash compensation expense	36,924	34,315
Unrealized changes in fair value of contingent consideration	7,372	11,609
Loss (gain) on disposal of operating assets	(553)	10,464
Equity in earnings of nonconsolidated affiliates, net of distributions	6,526	10,024
Provision for uncollectible accounts receivable and advances	14,413	16,898
Other, net	(9,632)	(6,525)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Increase in accounts receivable	(392,065)	(545,872)
Increase in prepaid expenses and other assets	(257,268)	(332,254)
Increase in accounts payable, accrued expenses and other liabilities	135,672	484,432
Decrease in deferred revenue	(162,782)	(960)
Net cash provided by operating activities	32,922	255,576
CASH FLOWS FROM INVESTING ACTIVITIES
Advances of notes receivable	(24,110)	(71,578)
Collections of notes receivable	10,142	29,104
Investments made in nonconsolidated affiliates	(34,742)	(42,580)
Purchases of property, plant and equipment	(225,822)	(163,714)
Cash paid for acquisitions, net of cash acquired	(108,075)	(98,288)
Purchases of intangible assets	(22,953)	(33,175)
Other, net	2,203	1,375
Net cash used in investing activities	(403,357)	(378,856)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net of debt issuance costs	604	857,121
Payments on long-term debt	(30,491)	(391,096)
Contributions from noncontrolling interests	13,124	4,900
Distributions to noncontrolling interests	(73,182)	(41,351)
Purchases and sales of noncontrolling interests, net	(29,005)	(152,971)
Proceeds from exercise of stock options	13,240	16,447
Taxes paid for net share settlement of equity awards	(10,578)	(8,685)
Payments for deferred and contingent consideration	(23,322)	(16,239)
Net Cash Provided by (Used in) Financing Activities, Total	(139,610)	268,126
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(59,364)	(63,870)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect, Total	(569,409)	80,976
Cash, cash equivalents, and restricted cash at beginning of period	2,378,203	1,828,822
Cash, cash equivalents, and restricted cash at end of period	$ 1,808,794	$ 1,909,798

BASIS OF PRESENTATION AND OTHER

BASIS OF PRESENTATION AND OTHER INFORMATION	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND OTHER INFORMATION	BASIS OF PRESENTATION AND OTHER INFORMATION Preparation of Interim Financial Statements The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, they include all normal and recurring accruals and adjustments necessary to present fairly the results of the interim periods shown. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our 2018 Annual Report on Form 10-K filed with the SEC on February 28, 2019, as amended by the Form 10-K/A filed with the SEC on June 28, 2019. Seasonality Due to the seasonal nature of shows at outdoor amphitheaters and festivals, which primarily occur from May through October, our Concerts and Sponsorship & Advertising segments experience higher revenue during the second and third quarters. Our Ticketing segment’s revenue is impacted by fluctuations in the availability of events for sale to the public, which vary depending upon scheduling by its clients. Our seasonality also results in higher balances in cash and cash equivalents, accounts receivable, prepaid expenses, accrued expenses and deferred revenue at different times in the year. Therefore, the results to date are not necessarily indicative of the results expected for the full year. Cash, Cash Equivalents and Restricted Cash Included in the September 30, 2019 and December 31, 2018 cash and cash equivalents balance is $747.4 million and $859.1 million, respectively, of cash received that includes the face value of tickets sold on behalf of ticketing clients and their share of service charges, which amounts are to be remitted to these clients. Restricted cash primarily consists of cash held in escrow accounts to fund capital improvements of certain leased or operated venues. The cash is held in these accounts pursuant to the related lease or operating agreement. Acquisitions During the first nine months of 2019, we completed several acquisitions that were accounted for as business combinations under the acquisition method of accounting. When we make these acquisitions, we often acquire a controlling interest without buying 100% of the business. These acquisitions were not significant either on an individual basis or in the aggregate. Income Taxes Each reporting period, we evaluate the realizability of all of our deferred tax assets in each tax jurisdiction. As of September 30, 2019, we continued to maintain a full valuation allowance against our net deferred tax assets in certain jurisdictions due to cumulative pre-tax losses. As a result of the valuation allowances, no tax benefits have been recognized for losses incurred, if any, in those tax jurisdictions for the first nine months of 2019 and 2018. Accounting Pronouncements - Recently Adopted Lease Accounting In February 2016, the FASB issued guidance that requires lessees to recognize most leases on their balance sheet as a lease liability and asset, and to disclose key information about leasing arrangements. The guidance should be applied on a modified retrospective basis. We adopted this standard on January 1, 2019, applying the transitional provisions of the standard to the beginning of the period of adoption and elected the package of practical expedients available under the transition guidance within the new guidance which, among other things, allowed us to carry forward the historical lease classification. We also made an accounting policy election to keep leases with an initial term of twelve months or less off the balance sheet, recognizing those lease payments in our statements of operations generally on a straight-line basis over the term of the lease. We have implemented third-party lease software, and corresponding internal controls, to account for our leases and facilitate compliance with the new guidance. The new guidance had a material impact on our balance sheet, but did not have a material impact on our statements of operations or an impact on our compliance with the debt covenant requirements under our senior secured credit facility and other debt arrangements. Upon adoption, we recognized operating lease assets and liabilities of $1.1 billion and $1.2 billion, respectively. The initial operating lease assets and liabilities were based on the present value of the remaining minimum lease payments, discounted using our secured incremental borrowing rate which varies based on geographical region and term of the underlying lease. The operating lease assets were also reduced by $85.3 million for prepaid rent, straight-line rent accruals and lease incentives. Accounting Pronouncements - Not Yet Adopted In August 2018, the FASB issued guidance that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amortization period of these implementation costs would include periods covered under renewal options that are reasonably certain to be exercised. The expense related to the capitalized implementation costs also would be presented in the same financial statement line item as the hosting fees. The guidance is effective for annual periods beginning after December 15, 2019 and interim periods within that year, and early adoption is permitted. The guidance should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We expect to adopt this guidance on January 1, 2020, and are currently assessing which implementation method we will apply and the impact that adoption will have on our financial position and results of operations.

LONG-LIVED ASSETS

LONG-LIVED ASSETS	9 Months Ended
	Sep. 30, 2019
LONG-LIVED ASSETS [Abstract]
LONG-LIVED ASSETS	LONG-LIVED ASSETS 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, 2019: Revenue- Client / Trademarks Technology Other (1) Total (in thousands) Balance as of December 31, 2018: Gross carrying amount $ 692,963 $ 393,772 $ 123,707 $ 85,411 $ 120,163 $ 1,416,016 Accumulated amortization (391,002) (213,599) (41,808) (38,826) (69,330) (754,565) Net 301,961 180,173 81,899 46,585 50,833 661,451 Gross carrying amount: Acquisitions—current year 100,416 25,639 1,632 7,794 60,145 195,626 Acquisitions—prior year — — — — 43 43 Foreign exchange (14,694) (3,937) (845) (419) (2,160) (22,055) Other (2) (71,601) (37,748) 76 (8,530) (19,413) (137,216) Net change 14,121 (16,046) 863 (1,155) 38,615 36,398 Accumulated amortization: Amortization (75,596) (43,999) (10,097) (19,957) (16,391) (166,040) Foreign exchange 5,560 2,483 362 377 976 9,758 Other (2) 71,580 37,747 (54) 8,529 19,421 137,223 Net change 1,544 (3,769) (9,789) (11,051) 4,006 (19,059) Balance as of September 30, 2019: Gross carrying amount 707,084 377,726 124,570 84,256 158,778 1,452,414 Accumulated amortization (389,458) (217,368) (51,597) (49,877) (65,324) (773,624) Net $ 317,626 $ 160,358 $ 72,973 $ 34,379 $ 93,454 $ 678,790 ______________ (1) Other primarily includes intangible assets for non-compete, venue management and leasehold 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 located in Brazil that had been accounted for as an equity method investment, venue management businesses located in Belgium, the United States and Canada, festival promotion businesses located in the United States and Finland, a ticketing business located in Australia and an artist management business located in the United States. The 2019 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows: Weighted- Revenue-generating contracts 8 Client/vendor relationships 4 Trademarks and naming rights 3 Technology 2 Other 9 All categories 7 We test for possible impairment of definite-lived intangible assets whenever events or circumstances change, such as a significant reduction in operating cash flow or a change in the manner in which the asset is intended to be used, which may indicate that the carrying amount of the asset may not be recoverable. During the nine months ended September 30, 2019, we reviewed the carrying value of certain definite-lived intangible assets that management determined had an indicator that future operating cash flows may not support their carrying value, and it was determined that those assets were impaired since the estimated undiscounted operating cash flows associated with those assets were less than their carrying value. For the nine months ended September 30, 2019, we recorded impairment charges related to definite-lived intangible assets of $19.4 million as a component of depreciation and amortization. These impairment charges primarily related to intangible assets for revenue-generating contracts in the Concerts segment. See Note 4—Fair Value Measurements for further discussion of the inputs used to determine the fair value. There were no significant impairment charges recorded during the nine months ended September 30, 2018. Amortization of definite-lived intangible assets for the three months ended September 30, 2019 and 2018 was $69.3 million and $51.4 million, respectively, and for the nine months ended September 30, 2019 and 2018 was $166.0 million and $143.5 million, respectively. 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 September 30, 2019: (in thousands) October 1 - December 31, 2019 $ 48,212 2020 $ 164,235 2021 $ 125,521 2022 $ 97,365 2023 $ 81,030 As acquisitions and dispositions occur in the future and the valuations of intangible assets for recent acquisitions are completed, amortization will 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, 2019: Concerts Ticketing Sponsorship Total (in thousands) 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 46,648 4,017 51,237 101,902 Acquisitions—prior year 8,827 — — 8,827 Foreign exchange (10,889) (3,458) (4,110) (18,457) Balance as of September 30, 2019: Goodwill 1,139,190 763,512 447,876 2,350,578 Accumulated impairment losses (435,363) — — (435,363) Net $ 703,827 $ 763,512 $ 447,876 $ 1,915,215 Included in the current year acquisitions amounts above are goodwill primarily associated with the acquisition of a festival promotion business located in Brazil that had been accounted for as an equity method investment and venue management businesses located in Belgium and Canada.

LEASES LEASES

LEASES LEASES	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
LEASES	LEASES We lease office space, many of our concert venues, festival sites and certain equipment. We do not recognize an operating lease asset or liability on our consolidated balance sheets for leases with an initial term of twelve months or less, including multi-year festival site leases where the sum of the non-consecutive periods of rental time is less than twelve months. Rent expense for these short-term leases is generally recognized on a straight-line basis over the lease term. Some of our lease agreements contain annual rental escalation clauses, as well as provisions for us to pay the related utilities and maintenance. We have elected to account for the lease components (i.e., fixed payments including rent, parking and real estate taxes) and nonlease components (i.e., common-area maintenance costs) as a single lease component. Many of our lease agreements contain renewal options that can extend the lease for additional terms typically ranging from one In addition to fixed rental payments, many of our leases contain contingent rental payments based on a percentage of revenue, tickets sold or other variables, while others include periodic adjustments to rental payments based on the prevailing inflationary index or market rental rates. Contingent rent obligations are not included in the initial measurement of the right of use asset or lease liability and are recognized as rent expense in the period that the contingency is resolved. Our leases do not contain any material residual value guarantees or restrictive covenants. We measure our lease assets and liabilities using an incremental borrowing rate which varies from lease to lease depending on geographical location and length of the lease. The significant components of operating lease expense are as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in thousands) Operating lease cost $ 43,412 $ 139,251 Variable and short-term lease cost 48,318 96,147 Sublease income (4,040) (12,669) Net lease cost $ 87,690 $ 222,729 Supplemental cash flow information for our operating leases is as follows: Nine Months Ended September 30, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 146,953 Lease assets obtained in exchange for lease obligations, net of terminations $ 130,011 Future maturities of our operating lease liabilities at September 30, 2019 are as follows: (in thousands) October 1 - December 31, 2019 $ 37,520 2020 184,023 2021 157,624 2022 151,277 2023 143,784 Thereafter 1,134,584 Total lease payments 1,808,812 Less: Interest 593,975 Present value of lease liabilities $ 1,214,837 The weighted average remaining lease term and weighted average discount rate for our operating leases are as follows: September 30, 2019 Weighted average remaining lease term (in years) 13.4 Weighted average discount rate 5.78 % As of September 30, 2019, we have additional operating leases that have not yet commenced with total lease payments of $298.5 million. These operating leases, which are not included on our consolidated balance sheets, have commencement dates ranging from October 2019 to May 2021 with lease terms ranging from 1 to 25 years.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Recurring Our outstanding debt held by third-party financial institutions is carried at cost, adjusted for any discounts or debt issuance costs. Our debt is not publicly traded and the carrying amounts typically approximate fair value for debt that accrues interest at a variable rate, which are considered to be Level 2 inputs as defined in the FASB guidance. The following table presents the estimated fair values of our senior notes and convertible senior notes: Estimated Fair Value at September 30, 2019 December 31, 2018 Level 2 (in thousands) 4.875% Senior Notes due 2024 $ 596,517 $ 552,368 5.625% Senior Notes due 2026 $ 320,310 $ 302,097 5.375% Senior Notes due 2022 $ 253,693 $ 251,390 2.5% Convertible Senior Notes due 2023 $ 645,100 $ 561,699 2.5% Convertible Senior Notes due 2019 $ — $ 40,710 See Note 9—Subsequent Event for discussion of the October 2019 refinancing of the 5.375% senior notes. The estimated fair value of our third-party fixed-rate debt is based on quoted market prices in active markets for the same or similar debt, which are considered to be Level 2 inputs. Non-recurring The following table shows the fair value of our financial assets that have been adjusted to fair value on a non-recurring basis, which had a significant impact on our results of operations for the nine months ended September 30, 2019. Fair Value Measurements Using Description Fair Value Measurement Level 1 Level 2 Level 3 Loss (Gain) 2019 (in thousands) Definite-lived intangible assets, net $ — $ — $ — $ — $ 19,372 During the nine months ended September 30, 2019, we recorded impairment charges related to definite-lived intangible assets of $19.4 million as a component of depreciation and amortization. The impairment charges are primarily related to intangible assets for revenue-generating contracts in the Concerts segment. It was determined that these assets were impaired since the most recent estimated undiscounted future cash flows associated with these assets were less than their carrying value. These impairments were calculated using operating cash flows, which were discounted to approximate fair value. The key inputs in these calculations include future cash flow projections, including revenue profit margins, and, for the fair value computation, a discount rate. The key inputs used for these non-recurring fair value measurements are considered Level 3 inputs.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	COMMITMENTS AND CONTINGENT LIABILITIES Litigation Consumer Class Actions The following putative class action lawsuits were filed against Live Nation and/or Ticketmaster in the United States and Canada: Vaccaro v. Ticketmaster LLC (Northern District of Illinois, filed September 2018); Ameri v. Ticketmaster LLC (Northern District of California, filed September 2018); Lee v. Ticketmaster LLC, et al. (Northern District of California, filed September 2018); Thompson-Marcial v. Ticketmaster Canada Holdings ULC (Ontario Superior Court of Justice, filed September 2018); McPhee v. Live Nation Entertainment, Inc., et al. (Superior Court of Quebec, District of Montreal, filed September 2018); Crystal Watch v. Live Nation Entertainment, Inc., et al. (Court of Queen’s Bench for Saskatchewan, by amendments filed September 2018); Gaetano v. Live Nation Entertainment, Inc., et al. (Northern District of New York, filed October 2018); Dickey v. Ticketmaster LLC, et al. (Central District of California, filed October 2018); Gomel v. Live Nation Entertainment, Inc., et al. (Supreme Court of British Columbia, Vancouver Registry, filed October 2018); Smith v. Live Nation Entertainment, Inc., et al. (Ontario Superior Court of Justice, filed October 2018); Messing v. Ticketmaster LLC, et al. (Central District of California, filed November 2018); and Niedbalski v. Ticketmaster LLC, et al. (Central District of California, filed December 2018). In March 2019, the court granted the defendants’ motion to compel arbitration of the Dickey lawsuit and stayed the matter. The parties reached a settlement in October 2019, and the case will be dismissed with prejudice shortly. In April 2019, the court granted the defendants’ motion to compel arbitration of the Lee lawsuit and dismissed the case. Lee subsequently appealed the District Court’s ruling to the Ninth Circuit. The Gaetano lawsuit was voluntarily dismissed with prejudice by the plaintiff in April 2019. The Ameri lawsuit was dismissed in May 2019 in light of the parties’ agreement to arbitrate the matter, and the Vaccaro lawsuit was settled and dismissed in June 2019. The Messing and Niedbalski lawsuits are stayed pending the outcome of the appeal in the Lee matter. The remaining lawsuits make similar factual allegations that Live Nation and/or Ticketmaster LLC engage in conduct that is intended to encourage the resale of tickets on secondary ticket exchanges at elevated prices. Based on these allegations, each plaintiff asserts violations of different state/provincial and federal laws. Each plaintiff also seeks to represent a class of individuals who purchased tickets on a secondary ticket exchange, as defined in each plaintiff’s complaint. The complaints seek a variety of remedies, including unspecified compensatory damages, punitive damages, restitution, injunctive relief and attorneys’ fees and costs. Based on information presently known to management, we do not believe that a loss is probable of occurring at this time, and believe that the potential liability, if any, will not have a material adverse effect on our financial condition, cash flows or results of operations. Further, we do not currently believe that the claims asserted in these lawsuits have merit, and considerable uncertainty exists regarding any monetary damages that will be asserted against us. We intend to vigorously defend these actions.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Equity	EQUITY Common Stock During 2019, we issued 824,328 shares of common stock to holders of our 2.5% convertible senior notes due 2019 upon conversion of $28.6 million of the outstanding principal amount of the notes. Accumulated Other Comprehensive Loss The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2019: Total (Foreign Currency Items) (in thousands) Balance at December 31, 2018 $ (145,231) Other comprehensive loss before reclassifications (35,816) Net other comprehensive loss (35,816) Balance at September 30, 2019 $ (181,047) Earnings Per Share Basic net income (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. The calculation of diluted net income (loss) per common share includes the effects of the assumed exercise of any outstanding stock options, the assumed vesting of shares of restricted stock and the assumed conversion of our convertible senior notes, where dilutive. The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Weighted average common shares—basic 210,621,971 207,614,413 209,849,058 207,228,034 Effect of dilutive securities: Stock options and restricted stock 8,335,405 8,347,718 8,249,695 8,178,167 Convertible senior notes — 826,852 386,741 — Weighted average common shares—diluted 218,957,376 216,788,983 218,485,494 215,406,201 The following table shows securities excluded from the calculation of diluted net income (loss) per common share because such securities are anti-dilutive: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Options to purchase shares of common stock 311,500 604,781 486,849 604,781 Restricted stock and deferred stock—unvested 959,089 2,483,572 959,089 2,498,072 Conversion shares related to the convertible senior notes 8,085,275 8,085,275 8,085,275 8,912,127 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 9,355,864 11,173,628 9,531,213 12,014,980

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Concerts Concerts revenue, including intersegment revenue, for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Total Concert Revenue $ 3,173,843 $ 3,297,257 $ 7,131,491 $ 6,716,914 Percentage of consolidated revenue 84.1 % 86.0 % 82.4 % 82.1 % Our Concerts segment generates revenue from the promotion or production of live music events and festivals in our owned or operated venues and in rented third-party venues, artist management commissions and the sale of merchandise for music artists at events. As a promoter and venue operator, we earn revenue primarily from the sale of tickets, concessions, merchandise, parking, ticket rebates or service charges on tickets sold by Ticketmaster or third-party ticketing companies, and rental of our owned or operated venues. As an artist manager, we earn commissions on the earnings of the artists and other clients we represent, primarily derived from clients’ earnings for concert tours. Over 95% of Concerts’ revenue, whether related to promotion, venue operations, artist management or artist event merchandising, is recognized on the day of the related event. The majority of consideration for our Concerts segment is collected in advance of or on the day of the event. Consideration received in advance of the event is recorded as deferred revenue. Any consideration not collected by the day of the event is typically received within three months after the event date. Ticketing Ticketing revenue, including intersegment revenue, for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Total Ticketing Revenue $ 388,458 $ 368,312 $ 1,096,865 $ 1,091,880 Percentage of consolidated revenue 10.3 % 9.6 % 12.7 % 13.3 % Ticket fee revenue is generated from convenience and order processing fees, or service charges, charged at the time a ticket for an event is sold in either the primary or secondary markets. Our Ticketing segment is primarily an agency business that sells tickets for events on behalf of its clients, which include venues, concert promoters, professional sports franchises and leagues, college sports teams, theater producers and museums. Our Ticketing segment is acting as an agent on behalf of its clients and records revenue arising from convenience and order processing fees, regardless of whether these fees are related to tickets sold in the primary or secondary market, and regardless of whether these fees are associated with our concert events or third-party clients’ concert events. Our Ticketing segment does not record the face value of the tickets sold as revenue. Ticket fee revenue is recognized when the ticket is sold for third-party clients and secondary market sales, as we have no further obligation to our client’s customers following the sale of the ticket. For our concert events, where our concert promoters control ticketing, ticket fee revenue is recognized when the event occurs because we also have the obligation to deliver the event to the fan. The delivery of the ticket to the fan is not considered a distinct performance obligation for our concert events because the fan cannot receive the benefits of the ticket unless we also fulfill our obligation to deliver the event. The majority of ticket fee revenue is collected within the month of the ticket sale. Revenue received from the sale of tickets in advance of our concert events is recorded as deferred revenue. Ticketing contract advances, which can be either recoupable or non-recoupable, represent amounts paid in advance to our clients pursuant to ticketing agreements and are reflected in prepaid expenses or in long-term advances if the amount is expected to be recouped or recognized over a period of more than twelve months. Recoupable ticketing contract advances are generally recoupable against future royalties earned by the client, based on the contract terms, over the life of the contract. Royalties are typically earned by the client when tickets are sold. Royalties paid to clients are recorded as a reduction to revenue when the tickets are sold and the corresponding service charge revenue is recognized. Non-recoupable ticketing contract advances, excluding those amounts paid to support clients’ advertising costs, are fixed additional incentives occasionally paid by us to certain clients to secure the contract and are typically amortized over the life of the contract on a straight-line basis as a reduction to revenue. At September 30, 2019 and December 31, 2018, we had ticketing contract advances of $97.0 million and $75.5 million, respectively, recorded in prepaid expenses and $104.7 million and $78.5 million, respectively, recorded in long-term advances on the consolidated balance sheets. We amortized $19.9 million and $19.6 million for the three months ended September 30, 2019 and 2018, respectively, and $54.1 million and $55.9 million for the nine months ended September 30, 2019 and 2018, respectively, related to non-recoupable ticketing contract advances. Sponsorship & Advertising Sponsorship & Advertising revenue, including intersegment revenue, for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Total Sponsorship & Advertising Revenue $ 215,247 $ 171,178 $ 441,862 $ 385,674 Percentage of consolidated revenue 5.7 % 4.5 % 5.1 % 4.7 % Our Sponsorship & Advertising segment generates revenue from sponsorship and marketing programs that provide its sponsors with strategic, international, national and local opportunities to reach customers through our venue, concert and ticketing assets, including advertising on our websites. These programs can also include custom events or programs for the sponsors’ specific brands, which are typically experienced exclusively by the sponsors’ customers. Sponsorship agreements may contain multiple elements, which provide several distinct benefits to the sponsor over the term of the agreement, and can be for a single or multi-year term. We also earn revenue from exclusive access rights provided to sponsors in various categories such as ticket pre-sales, beverage pouring rights, venue naming rights, media campaigns, signage within our venues, and advertising on our websites. Revenue from sponsorship agreements is allocated to the multiple elements based on the relative stand-alone selling price of each separate element, which are determined using vendor-specific evidence, third-party evidence or our best estimate of the fair value. Revenue is recognized over the term of the agreement or operating season as the benefits are provided to the sponsor unless the revenue is associated with a specific event, in which case it is recognized when the event occurs. Revenue is collected in installment payments during the year, typically in advance of providing the benefit or the event. Revenue received in advance of the event or the sponsor receiving the benefit is recorded as deferred revenue. At September 30, 2019, we had contracted sponsorship agreements with terms greater than one year that had approximately $1.0 billion of revenue related to future benefits to be provided by us. We expect to recognize approximately 8%, 31%, 23% and 38% of this revenue in the remainder of 2019, 2020, 2021 and thereafter, respectively. Deferred Revenue The majority of our deferred revenue is classified as current and is shown as a separate line item on the consolidated balance sheets. Deferred revenue that is not expected to be recognized within the next twelve months is classified as long-term and reflected in other long-term liabilities on the consolidated balance sheets. We had current deferred revenue of $1.2 billion and $925.2 million at December 31, 2018 and 2017, respectively. The table below summarizes the amount of deferred revenue recognized during the three and nine months ended September 30, 2019 and 2018: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Concerts $ 260,907 $ 166,381 $ 1,093,890 $ 809,930 Ticketing 11,538 7,820 59,284 39,559 Sponsorship & Advertising 2,436 3,062 19,188 20,350 Other & Corporate 562 200 2,730 1,591 $ 275,443 $ 177,463 $ 1,175,092 $ 871,430

SEGMENT DATA

SEGMENT DATA	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA Our reportable segments are Concerts, Ticketing and Sponsorship & Advertising. Our Concerts segment involves the promotion of live music events globally in our owned or operated venues and in rented third-party venues, the production of music festivals, the operation and management of music venues, the creation of associated content and the provision of management and other services to artists. Our Ticketing segment involves the management of our global ticketing operations, including providing ticketing software and services to clients, and consumers with a marketplace, both online and mobile, for tickets and event information, and is responsible for our primary ticketing website, www.ticketmaster.com . Our Sponsorship & Advertising segment manages the development of strategic sponsorship programs in addition to the sale of international, national and local sponsorships and placement of advertising such as signage, promotional programs, rich media offerings, including advertising associated with live streaming and music-related original content, and ads across our distribution network of venues, events and websites. Revenue and expenses earned and charged between segments are eliminated in consolidation. Our capital expenditures below include accruals for amounts incurred but not yet paid for, but are not reduced by reimbursements received from outside parties such as landlords or replacements funded by insurance proceeds. We manage our working capital on a consolidated basis. Accordingly, segment assets are not reported to, or used by, our management to allocate resources to or assess performance of the segments, and therefore, total segment assets have not been presented. The following table presents the results of operations for our reportable segments for the three and nine months ended September 30, 2019 and 2018: Concerts Ticketing Sponsorship Other Corporate Eliminations Consolidated (in thousands) Three Months Ended September 30, 2019 Revenue $ 3,173,843 $ 388,458 $ 215,247 $ 791 $ — $ (4,655) $ 3,773,684 Direct operating expenses 2,636,344 127,123 41,617 — — (4,655) 2,800,429 Selling, general and administrative expenses 355,198 157,590 29,055 704 — — 542,547 Depreciation and amortization 71,247 39,562 11,332 145 4,020 — 126,306 Loss (gain) on disposal of operating assets (320) 15 — — — — (305) Corporate expenses — — — — 44,666 — 44,666 Operating income (loss) $ 111,374 $ 64,168 $ 133,243 $ (58) $ (48,686) $ — $ 260,041 Intersegment revenue $ 2,092 $ 2,563 $ — $ — $ — $ (4,655) $ — Three Months Ended September 30, 2018 Revenue $ 3,297,257 $ 368,312 $ 171,178 $ 932 $ — $ (2,433) $ 3,835,246 Direct operating expenses 2,767,949 133,050 23,191 2,599 — (2,433) 2,924,356 Selling, general and administrative expenses 343,250 151,064 25,325 5,015 — — 524,654 Depreciation and amortization 54,404 34,677 8,871 212 1,442 — 99,606 Loss (gain) on disposal of operating assets 10,317 2 — — (1) — 10,318 Corporate expenses — — — — 42,093 — 42,093 Operating income (loss) $ 121,337 $ 49,519 $ 113,791 $ (6,894) $ (43,534) $ — $ 234,219 Intersegment revenue $ 268 $ 2,165 $ — $ — $ — $ (2,433) $ — Nine Months Ended September 30, 2019 Revenue $ 7,131,491 $ 1,096,865 $ 441,862 $ 2,372 $ — $ (14,069) $ 8,658,521 Direct operating expenses 5,853,380 359,502 80,634 — — (14,069) 6,279,447 Selling, general and administrative expenses 989,017 449,862 79,661 2,370 — — 1,520,910 Depreciation and amortization 176,827 116,465 24,780 404 10,568 — 329,044 Loss (gain) on disposal of operating assets (675) 122 — — — — (553) Corporate expenses — — — — 121,909 — 121,909 Operating income (loss) $ 112,942 $ 170,914 $ 256,787 $ (402) $ (132,477) $ — $ 407,764 Intersegment revenue $ 5,032 $ 9,037 $ — $ — $ — $ (14,069) $ — Capital expenditures $ 127,818 $ 78,414 $ 5,529 $ — $ 17,374 $ — $ 229,135 Concerts Ticketing Sponsorship Other Corporate Eliminations Consolidated (in thousands) Nine Months Ended September 30, 2018 Revenue $ 6,716,914 $ 1,091,880 $ 385,674 $ 2,886 $ — $ (11,409) $ 8,185,945 Direct operating expenses 5,554,368 377,121 68,142 3,325 — (11,409) 5,991,547 Selling, general and administrative expenses 906,360 447,997 68,534 12,812 — — 1,435,703 Depreciation and amortization 146,458 103,299 23,613 599 3,293 — 277,262 Loss (gain) on disposal of operating assets 10,452 13 — — (1) — 10,464 Corporate expenses — — — — 108,055 — 108,055 Operating income (loss) $ 99,276 $ 163,450 $ 225,385 $ (13,850) $ (111,347) $ — $ 362,914 Intersegment revenue $ 268 $ 11,141 $ — $ — $ — $ (11,409) $ — Capital expenditures $ 88,338 $ 71,336 $ 4,241 $ 149 $ 8,839 $ — $ 172,903

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT In October 2019, we issued $950 million principal amount of 4.75% senior notes due 2027 and further amended our senior secured credit facility, including the issuance of $950 million principal amount for the term loan B facility, as set forth below. The proceeds will be used to repay the $1.1 billion principal balance outstanding on the term loans A and B under our existing senior secured credit facility, to repay the entire $250 million principal amount of our 5.375% senior notes due 2022 and to pay the related redemption premium of $3.4 million on the senior notes and estimated accrued interest and fees of $31.1 million, leaving approximately $527.2 million for general corporate purposes, including acquisitions. We expect the loss on extinguishment of debt related to this refinancing to be between $3.0 million and $5.0 million. Amended Senior Secured Credit Facility The amended senior secured credit facility provides for (i) a five seven five The interest rates per annum applicable to revolving credit facility loans and the delayed draw term loan A under the amended senior secured credit facility are, at our option, equal to either Eurodollar plus 1.75% or a base rate plus 0.75%, subject to stepdowns based on our net leverage ratio. The interest rates per annum applicable to the term loan B are, at our option, equal to either Eurodollar plus 1.75% or a base rate plus 0.75%. We are required to pay a commitment fee of 0.35% per year on the undrawn portion available under the revolving credit facility and delayed draw term loan A, subject to a stepdown based on our net leverage ratio, and variable fees on outstanding letters of credit. For the term loan A, we are required to make quarterly payments at a rate ranging from 0.625% of the original principal amount during the first three years to 1.25% during the last two years with the balance due at maturity in October 2024. For the term loan B, we are required to make quarterly payments of $2.4 million with the balance due at maturity in October 2026. We are also required to make mandatory prepayments of the loans under the amended credit agreement, subject to specified exceptions, from excess cash flow and with the proceeds of asset sales, debt issuances and specified other events. 4.75% Senior Notes The $950 million principal amount of senior notes due 2027 bear interest at 4.75%, which is payable semi-annually in cash in arrears on April 15 and October 15 of each year beginning on April 15, 2020, and will mature on October 15, 2027. We may redeem some or all of the notes, at any time prior to October 15, 2022, at a price equal to 100% of the aggregate principal amount, plus any accrued and unpaid interest to the date of redemption, plus a ‘make-whole’ premium. We may redeem up to 35% of the aggregate principal amount of the notes from the proceeds of certain equity offerings prior to October 15, 2022, at a price equal to 104.750% of the aggregate principal amount, plus accrued and unpaid interest thereon, if any, to the date of redemption. In addition, on or after October 15, 2022, we may redeem some or all of the notes at any time at redemption prices starting at 103.563% of their principal amount, plus any accrued and unpaid interest to the date of redemption. We must make an offer to redeem the notes at 101% of their aggregate principal amount, plus accrued and unpaid interest to the repurchase date, if we experience certain defined changes of control.

BASIS OF PRESENTATION AND OTH_2

BASIS OF PRESENTATION AND OTHER INFORMATION Basis of Presentation and Other Information (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Accounting Pronouncements - Recently Adopted Lease Accounting In February 2016, the FASB issued guidance that requires lessees to recognize most leases on their balance sheet as a lease liability and asset, and to disclose key information about leasing arrangements. The guidance should be applied on a modified retrospective basis. We adopted this standard on January 1, 2019, applying the transitional provisions of the standard to the beginning of the period of adoption and elected the package of practical expedients available under the transition guidance within the new guidance which, among other things, allowed us to carry forward the historical lease classification. We also made an accounting policy election to keep leases with an initial term of twelve months or less off the balance sheet, recognizing those lease payments in our statements of operations generally on a straight-line basis over the term of the lease. We have implemented third-party lease software, and corresponding internal controls, to account for our leases and facilitate compliance with the new guidance. The new guidance had a material impact on our balance sheet, but did not have a material impact on our statements of operations or an impact on our compliance with the debt covenant requirements under our senior secured credit facility and other debt arrangements. Upon adoption, we recognized operating lease assets and liabilities of $1.1 billion and $1.2 billion, respectively. The initial operating lease assets and liabilities were based on the present value of the remaining minimum lease payments, discounted using our secured incremental borrowing rate which varies based on geographical region and term of the underlying lease. The operating lease assets were also reduced by $85.3 million for prepaid rent, straight-line rent accruals and lease incentives. Accounting Pronouncements - Not Yet Adopted In August 2018, the FASB issued guidance that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amortization period of these implementation costs would include periods covered under renewal options that are reasonably certain to be exercised. The expense related to the capitalized implementation costs also would be presented in the same financial statement line item as the hosting fees. The guidance is effective for annual periods beginning after December 15, 2019 and interim periods within that year, and early adoption is permitted. The guidance should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We expect to adopt this guidance on January 1, 2020, and are currently assessing which implementation method we will apply and the impact that adoption will have on our financial position and results of operations.

LEASES Leases (Policies)

LEASES Leases (Policies)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	We lease office space, many of our concert venues, festival sites and certain equipment. We do not recognize an operating lease asset or liability on our consolidated balance sheets for leases with an initial term of twelve months or less, including multi-year festival site leases where the sum of the non-consecutive periods of rental time is less than twelve months. Rent expense for these short-term leases is generally recognized on a straight-line basis over the lease term. Some of our lease agreements contain annual rental escalation clauses, as well as provisions for us to pay the related utilities and maintenance. We have elected to account for the lease components (i.e., fixed payments including rent, parking and real estate taxes) and nonlease components (i.e., common-area maintenance costs) as a single lease component. Many of our lease agreements contain renewal options that can extend the lease for additional terms typically ranging from one In addition to fixed rental payments, many of our leases contain contingent rental payments based on a percentage of revenue, tickets sold or other variables, while others include periodic adjustments to rental payments based on the prevailing inflationary index or market rental rates. Contingent rent obligations are not included in the initial measurement of the right of use asset or lease liability and are recognized as rent expense in the period that the contingency is resolved. Our leases do not contain any material residual value guarantees or restrictive covenants.

LONG-LIVED ASSETS Long-Lived As

LONG-LIVED ASSETS Long-Lived Assets (Tables)	9 Months Ended
	Sep. 30, 2019
LONG-LIVED ASSETS [Abstract]
Changes in 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, 2019: Revenue- Client / Trademarks Technology Other (1) Total (in thousands) Balance as of December 31, 2018: Gross carrying amount $ 692,963 $ 393,772 $ 123,707 $ 85,411 $ 120,163 $ 1,416,016 Accumulated amortization (391,002) (213,599) (41,808) (38,826) (69,330) (754,565) Net 301,961 180,173 81,899 46,585 50,833 661,451 Gross carrying amount: Acquisitions—current year 100,416 25,639 1,632 7,794 60,145 195,626 Acquisitions—prior year — — — — 43 43 Foreign exchange (14,694) (3,937) (845) (419) (2,160) (22,055) Other (2) (71,601) (37,748) 76 (8,530) (19,413) (137,216) Net change 14,121 (16,046) 863 (1,155) 38,615 36,398 Accumulated amortization: Amortization (75,596) (43,999) (10,097) (19,957) (16,391) (166,040) Foreign exchange 5,560 2,483 362 377 976 9,758 Other (2) 71,580 37,747 (54) 8,529 19,421 137,223 Net change 1,544 (3,769) (9,789) (11,051) 4,006 (19,059) Balance as of September 30, 2019: Gross carrying amount 707,084 377,726 124,570 84,256 158,778 1,452,414 Accumulated amortization (389,458) (217,368) (51,597) (49,877) (65,324) (773,624) Net $ 317,626 $ 160,358 $ 72,973 $ 34,379 $ 93,454 $ 678,790 ______________ (1) Other primarily includes intangible assets for non-compete, venue management and leasehold agreements. (2) Other primarily includes netdowns of fully amortized or impaired assets.	[1],[2]
Weighted Average Lives of Additions to Definite-Lived Intangible Assets	The 2019 additions to definite-lived intangible assets from acquisitions have weighted-average lives as follows: Weighted- Revenue-generating contracts 8 Client/vendor relationships 4 Trademarks and naming rights 3 Technology 2 Other 9 All categories 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 September 30, 2019: (in thousands) October 1 - December 31, 2019 $ 48,212 2020 $ 164,235 2021 $ 125,521 2022 $ 97,365 2023 $ 81,030
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 nine months ended September 30, 2019: Concerts Ticketing Sponsorship Total (in thousands) 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 46,648 4,017 51,237 101,902 Acquisitions—prior year 8,827 — — 8,827 Foreign exchange (10,889) (3,458) (4,110) (18,457) Balance as of September 30, 2019: Goodwill 1,139,190 763,512 447,876 2,350,578 Accumulated impairment losses (435,363) — — (435,363) Net $ 703,827 $ 763,512 $ 447,876 $ 1,915,215
[1]	(1) Other primarily includes intangible assets for non-compete, venue management and leasehold agreements.
[2]	(2) Other primarily includes netdowns of fully amortized or impaired assets.

LEASES Leases (Tables)

LEASES Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Significant Components of Operating Lease Expense	The significant components of operating lease expense are as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in thousands) Operating lease cost $ 43,412 $ 139,251 Variable and short-term lease cost 48,318 96,147 Sublease income (4,040) (12,669) Net lease cost $ 87,690 $ 222,729
Supplemental Cash Flow Information for Operating Leases	Supplemental cash flow information for our operating leases is as follows: Nine Months Ended September 30, 2019 (in thousands) Cash paid for amounts included in the measurement of lease liabilities $ 146,953 Lease assets obtained in exchange for lease obligations, net of terminations $ 130,011
Future Maturities of Operating Leases	Future maturities of our operating lease liabilities at September 30, 2019 are as follows: (in thousands) October 1 - December 31, 2019 $ 37,520 2020 184,023 2021 157,624 2022 151,277 2023 143,784 Thereafter 1,134,584 Total lease payments 1,808,812 Less: Interest 593,975 Present value of lease liabilities $ 1,214,837
Operating Leases Weighted Average Remaining Lease Term and Discount Rate	The weighted average remaining lease term and weighted average discount rate for our operating leases are as follows: September 30, 2019 Weighted average remaining lease term (in years) 13.4 Weighted average discount rate 5.78 %

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Estimated Fair Values of Debt	The following table presents the estimated fair values of our senior notes and convertible senior notes: Estimated Fair Value at September 30, 2019 December 31, 2018 Level 2 (in thousands) 4.875% Senior Notes due 2024 $ 596,517 $ 552,368 5.625% Senior Notes due 2026 $ 320,310 $ 302,097 5.375% Senior Notes due 2022 $ 253,693 $ 251,390 2.5% Convertible Senior Notes due 2023 $ 645,100 $ 561,699 2.5% Convertible Senior Notes due 2019 $ — $ 40,710
Fair Value Measurements, Nonrecurring	The following table shows the fair value of our financial assets that have been adjusted to fair value on a non-recurring basis, which had a significant impact on our results of operations for the nine months ended September 30, 2019. Fair Value Measurements Using Description Fair Value Measurement Level 1 Level 2 Level 3 Loss (Gain) 2019 (in thousands) Definite-lived intangible assets, net $ — $ — $ — $ — $ 19,372

EQUITY Equity (Tables)

EQUITY Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents changes in the components of AOCI, net of taxes, for the nine months ended September 30, 2019: Total (Foreign Currency Items) (in thousands) Balance at December 31, 2018 $ (145,231) Other comprehensive loss before reclassifications (35,816) Net other comprehensive loss (35,816) Balance at September 30, 2019 $ (181,047)
Schedule of Weighted Average Number of Shares	The following table sets forth the computation of weighted average common shares outstanding: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Weighted average common shares—basic 210,621,971 207,614,413 209,849,058 207,228,034 Effect of dilutive securities: Stock options and restricted stock 8,335,405 8,347,718 8,249,695 8,178,167 Convertible senior notes — 826,852 386,741 — Weighted average common shares—diluted 218,957,376 216,788,983 218,485,494 215,406,201
Potentially Dilutive Securities Excluded From Diluted Net Income (Loss) Per Common Share	The following table shows securities excluded from the calculation of diluted net income (loss) per common share because such securities are anti-dilutive: Three Months Ended Nine Months Ended 2019 2018 2019 2018 Options to purchase shares of common stock 311,500 604,781 486,849 604,781 Restricted stock and deferred stock—unvested 959,089 2,483,572 959,089 2,498,072 Conversion shares related to the convertible senior notes 8,085,275 8,085,275 8,085,275 8,912,127 Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 9,355,864 11,173,628 9,531,213 12,014,980

REVENUE RECOGNITION Revenue Rec

REVENUE RECOGNITION Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Concerts Revenue	Concerts revenue, including intersegment revenue, for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Total Concert Revenue $ 3,173,843 $ 3,297,257 $ 7,131,491 $ 6,716,914 Percentage of consolidated revenue 84.1 % 86.0 % 82.4 % 82.1 %
Disaggregation of Ticketing Revenue	Ticketing revenue, including intersegment revenue, for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Total Ticketing Revenue $ 388,458 $ 368,312 $ 1,096,865 $ 1,091,880 Percentage of consolidated revenue 10.3 % 9.6 % 12.7 % 13.3 %
Disaggregation of Sponsorship & Advertising Revenue	Sponsorship & Advertising revenue, including intersegment revenue, for the three and nine months ended September 30, 2019 and 2018 are as follows: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Total Sponsorship & Advertising Revenue $ 215,247 $ 171,178 $ 441,862 $ 385,674 Percentage of consolidated revenue 5.7 % 4.5 % 5.1 % 4.7 %
Contract with Customer, Asset and Liability	The table below summarizes the amount of deferred revenue recognized during the three and nine months ended September 30, 2019 and 2018: Three Months Ended Nine Months Ended 2019 2018 2019 2018 (in thousands) Concerts $ 260,907 $ 166,381 $ 1,093,890 $ 809,930 Ticketing 11,538 7,820 59,284 39,559 Sponsorship & Advertising 2,436 3,062 19,188 20,350 Other & Corporate 562 200 2,730 1,591 $ 275,443 $ 177,463 $ 1,175,092 $ 871,430

SEGMENT DATA Segment Data (Tabl

SEGMENT DATA Segment Data (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Results of Operations Related to Reportable Segments of the Entity	The following table presents the results of operations for our reportable segments for the three and nine months ended September 30, 2019 and 2018: Concerts Ticketing Sponsorship Other Corporate Eliminations Consolidated (in thousands) Three Months Ended September 30, 2019 Revenue $ 3,173,843 $ 388,458 $ 215,247 $ 791 $ — $ (4,655) $ 3,773,684 Direct operating expenses 2,636,344 127,123 41,617 — — (4,655) 2,800,429 Selling, general and administrative expenses 355,198 157,590 29,055 704 — — 542,547 Depreciation and amortization 71,247 39,562 11,332 145 4,020 — 126,306 Loss (gain) on disposal of operating assets (320) 15 — — — — (305) Corporate expenses — — — — 44,666 — 44,666 Operating income (loss) $ 111,374 $ 64,168 $ 133,243 $ (58) $ (48,686) $ — $ 260,041 Intersegment revenue $ 2,092 $ 2,563 $ — $ — $ — $ (4,655) $ — Three Months Ended September 30, 2018 Revenue $ 3,297,257 $ 368,312 $ 171,178 $ 932 $ — $ (2,433) $ 3,835,246 Direct operating expenses 2,767,949 133,050 23,191 2,599 — (2,433) 2,924,356 Selling, general and administrative expenses 343,250 151,064 25,325 5,015 — — 524,654 Depreciation and amortization 54,404 34,677 8,871 212 1,442 — 99,606 Loss (gain) on disposal of operating assets 10,317 2 — — (1) — 10,318 Corporate expenses — — — — 42,093 — 42,093 Operating income (loss) $ 121,337 $ 49,519 $ 113,791 $ (6,894) $ (43,534) $ — $ 234,219 Intersegment revenue $ 268 $ 2,165 $ — $ — $ — $ (2,433) $ — Nine Months Ended September 30, 2019 Revenue $ 7,131,491 $ 1,096,865 $ 441,862 $ 2,372 $ — $ (14,069) $ 8,658,521 Direct operating expenses 5,853,380 359,502 80,634 — — (14,069) 6,279,447 Selling, general and administrative expenses 989,017 449,862 79,661 2,370 — — 1,520,910 Depreciation and amortization 176,827 116,465 24,780 404 10,568 — 329,044 Loss (gain) on disposal of operating assets (675) 122 — — — — (553) Corporate expenses — — — — 121,909 — 121,909 Operating income (loss) $ 112,942 $ 170,914 $ 256,787 $ (402) $ (132,477) $ — $ 407,764 Intersegment revenue $ 5,032 $ 9,037 $ — $ — $ — $ (14,069) $ — Capital expenditures $ 127,818 $ 78,414 $ 5,529 $ — $ 17,374 $ — $ 229,135 Concerts Ticketing Sponsorship Other Corporate Eliminations Consolidated (in thousands) Nine Months Ended September 30, 2018 Revenue $ 6,716,914 $ 1,091,880 $ 385,674 $ 2,886 $ — $ (11,409) $ 8,185,945 Direct operating expenses 5,554,368 377,121 68,142 3,325 — (11,409) 5,991,547 Selling, general and administrative expenses 906,360 447,997 68,534 12,812 — — 1,435,703 Depreciation and amortization 146,458 103,299 23,613 599 3,293 — 277,262 Loss (gain) on disposal of operating assets 10,452 13 — — (1) — 10,464 Corporate expenses — — — — 108,055 — 108,055 Operating income (loss) $ 99,276 $ 163,450 $ 225,385 $ (13,850) $ (111,347) $ — $ 362,914 Intersegment revenue $ 268 $ 11,141 $ — $ — $ — $ (11,409) $ — Capital expenditures $ 88,338 $ 71,336 $ 4,241 $ 149 $ 8,839 $ — $ 172,903

BASIS OF PRESENTATION AND OTH_3

BASIS OF PRESENTATION AND OTHER INFORMATION Basis of Presentation and Other Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Accounting Policies [Abstract]
Cash received that includes the face value of tickets sold on behalf of ticketing clients and their share of service charges.	$ 747,400,000		$ 859,100,000
Tax benefit recognized for losses incurred	$ 0	$ 0

BASIS OF PRESENTATION AND OTH_4

BASIS OF PRESENTATION AND OTHER INFORMATION Impact of Adoption of Lease Accounting Standard (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 1,145,487		$ 0
Present value of lease liabilities	$ 1,214,837
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 1,100,000
Present value of lease liabilities		1,200,000
Reduction of operating lease assets upon adoption of lease guidance		$ 85,300

LONG-LIVED ASSETS (Definite-liv

LONG-LIVED ASSETS (Definite-lived Intangibles) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount			$ 1,416,016
Accumulated amortization			(754,565)
Net			661,451
Acquisitions—current year			195,626
Acquisitions—prior year			43
Foreign exchange			(22,055)
Other (2)			(137,216)
Net change			36,398
Amortization	$ (69,300)	$ (51,400)	(166,040)	$ (143,500)
Foreign exchange			9,758
Other (2)			137,223
Net change			(19,059)
Gross carrying amount	1,452,414		1,452,414
Accumulated amortization	(773,624)		(773,624)
Net	678,790		678,790
Estimate of amortization expense for each of the five succeeding fiscal years
October 1 - December 31, 2019	48,212		48,212
2020	164,235		164,235
2021	125,521		125,521
2022	97,365		97,365
2023	81,030		$ 81,030
Weighted-average lives of definite-lived intangible assets			7 years
Definite-lived intangible assets, net			$ 19,372
Revenue-generating contracts [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount			692,963
Accumulated amortization			(391,002)
Net			301,961
Acquisitions—current year			100,416
Acquisitions—prior year			0
Foreign exchange			(14,694)
Other (2)			(71,601)
Net change			14,121
Amortization			(75,596)
Foreign exchange			5,560
Other (2)			71,580
Net change			1,544
Gross carrying amount	707,084		707,084
Accumulated amortization	(389,458)		(389,458)
Net	317,626		$ 317,626
Estimate of amortization expense for each of the five succeeding fiscal years
Weighted-average lives of definite-lived intangible assets			8 years
Revenue-generating contracts [Member] | Concerts [Member]
Estimate of amortization expense for each of the five succeeding fiscal years
Definite-lived intangible assets, net			$ 19,400
Client/vendor relationships [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount			393,772
Accumulated amortization			(213,599)
Net			180,173
Acquisitions—current year			25,639
Acquisitions—prior year			0
Foreign exchange			(3,937)
Other (2)			(37,748)
Net change			(16,046)
Amortization			(43,999)
Foreign exchange			2,483
Other (2)			37,747
Net change			(3,769)
Gross carrying amount	377,726		377,726
Accumulated amortization	(217,368)		(217,368)
Net	160,358		$ 160,358
Estimate of amortization expense for each of the five succeeding fiscal years
Weighted-average lives of definite-lived intangible assets			4 years
Trademarks and naming rights [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount			$ 123,707
Accumulated amortization			(41,808)
Net			81,899
Acquisitions—current year			1,632
Acquisitions—prior year			0
Foreign exchange			(845)
Other (2)			76
Net change			863
Amortization			(10,097)
Foreign exchange			362
Other (2)			(54)
Net change			(9,789)
Gross carrying amount	124,570		124,570
Accumulated amortization	(51,597)		(51,597)
Net	72,973		$ 72,973
Estimate of amortization expense for each of the five succeeding fiscal years
Weighted-average lives of definite-lived intangible assets			3 years
Technology [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount			$ 85,411
Accumulated amortization			(38,826)
Net			46,585
Acquisitions—current year			7,794
Acquisitions—prior year			0
Foreign exchange			(419)
Other (2)			(8,530)
Net change			(1,155)
Amortization			(19,957)
Foreign exchange			377
Other (2)			8,529
Net change			(11,051)
Gross carrying amount	84,256		84,256
Accumulated amortization	(49,877)		(49,877)
Net	34,379		$ 34,379
Estimate of amortization expense for each of the five succeeding fiscal years
Weighted-average lives of definite-lived intangible assets			2 years
Other intangible assets [Member]
Finite-lived Intangible Assets [Roll Forward]
Gross carrying amount			$ 120,163
Accumulated amortization			(69,330)
Net			50,833
Acquisitions—current year			60,145
Acquisitions—prior year			43
Foreign exchange			(2,160)
Other (2)			(19,413)
Net change			38,615
Amortization			(16,391)
Foreign exchange			976
Other (2)			19,421
Net change			4,006
Gross carrying amount	158,778		158,778
Accumulated amortization	(65,324)		(65,324)
Net	$ 93,454		$ 93,454
Estimate of amortization expense for each of the five succeeding fiscal years
Weighted-average lives of definite-lived intangible assets			9 years

LONG-LIVED ASSETS (Definite-l_2

LONG-LIVED ASSETS (Definite-lived Intangibles Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization of definite-lived intangible assets	$ 69,300	$ 51,400	$ 166,040	$ 143,500

LONG-LIVED ASSETS (Goodwill) (D

LONG-LIVED ASSETS (Goodwill) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Changes in carrying amount of goodwill [Roll Forward]
Goodwill	$ 2,258,306
Accumulated impairment losses	(435,363)
Net	1,822,943
Acquisition—current year	101,902
Acquisitions—prior year	8,827
Foreign exchange	(18,457)
Goodwill	2,350,578
Accumulated impairment losses	(435,363)
Net	1,915,215
Concerts [Member]
Changes in carrying amount of goodwill [Roll Forward]
Goodwill	1,094,604
Accumulated impairment losses	(435,363)
Net	659,241
Acquisitions—prior year	8,827
Foreign exchange	(10,889)
Goodwill	1,139,190
Accumulated impairment losses	(435,363)
Net	703,827
Ticketing [Member]
Changes in carrying amount of goodwill [Roll Forward]
Goodwill	762,953
Accumulated impairment losses	0
Net	762,953
Acquisition—current year	4,017
Acquisitions—prior year	0
Foreign exchange	(3,458)
Goodwill	763,512
Accumulated impairment losses	0
Net	763,512
Sponsorship and Advertising [Member]
Changes in carrying amount of goodwill [Roll Forward]
Goodwill	400,749
Accumulated impairment losses	0
Net	400,749
Acquisition—current year	51,237
Acquisitions—prior year	0
Foreign exchange	(4,110)
Goodwill	447,876
Accumulated impairment losses	0
Net	$ 447,876

LEASES Lease Narrative (Details

LEASES Lease Narrative (Details)	Sep. 30, 2019
Minimum [Member]
Lessee, Lease, Description [Line Items]
Renewal term range for operating leases	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Renewal term range for operating leases	10 years

LEASES Significant Components O

LEASES Significant Components Of Operating Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 43,412	$ 139,251
Variable and short-term lease cost	48,318	96,147
Sublease income	(4,040)	(12,669)
Net lease cost	$ 87,690	$ 222,729

LEASES Supplemental Cash Flow I

LEASES Supplemental Cash Flow Information For Operating Leases (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 146,953
Lease assets obtained in exchange for lease obligations, net of terminations	$ 130,011

LEASES Future Maturities of Ope

LEASES Future Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
October 1 - December 31, 2019	$ 37,520
2020	184,023
2021	157,624
2022	151,277
2023	143,784
Thereafter	1,134,584
Total lease payments	1,808,812
Less: Interest	593,975
Present value of lease liabilities	$ 1,214,837

LEASES Weighted Average Remaini

LEASES Weighted Average Remaining Lease Term and Discount Rate for Operating Leases (Details) $ in Millions	Sep. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Weighted average remaining lease term (in years)	13 years 4 months 24 days
Weighted average discount rate	5.78%
Total lease payments due under operating leases that have not yet commenced	$ 298.5
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lease term for operating leases that have not yet commenced	25 years

FAIR VALUE MEASUREMENTS (Fair V

FAIR VALUE MEASUREMENTS (Fair Value of Debt) (Details) - Level 2 [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
4.875% Senior Notes Due 2024 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	$ 596,517	$ 552,368
5.625% Senior Notes Due 2026 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	320,310	302,097
5.375% Senior Notes due 2022 [Member]
Debt Fair Value [Line Items]
Estimated fair values of senior notes	253,693	251,390
2.5% Convertible Senior Notes Due 2023 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	645,100	561,699
2.5% Convertible Senior Notes Due 2019 [Member]
Debt Fair Value [Line Items]
Estimated fair values of convertible senior notes	$ 0	$ 40,710

Non-Recurring Fair Value (Detai

Non-Recurring Fair Value (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge, definite-lived intangible assets	$ 19,372,000
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Definite-lived intangible assets, net	0
Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Definite-lived intangible assets, net	0
Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Definite-lived intangible assets, net	0
Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Definite-lived intangible assets, net	$ 0

EQUITY Common Stock (Details)

EQUITY Common Stock (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Stock Issued During Period, Value, Conversion of Convertible Securities	$ 0		$ 28,586
Weighted average common shares—basic	210,621,971	207,614,413	209,849,058	207,228,034
2.5% Convertible Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Conversion of convertible debt (in shares)			824,328
Interest rate, stated percentage	2.50%		2.50%
Stock Issued During Period, Value, Conversion of Convertible Securities			$ 28,600

EQUITY (Accumulated Other Compr

EQUITY (Accumulated Other Comprehensive Loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2018	$ (145,231)
Balance at September 30, 2019	(181,047)
Foreign Currency Items [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at December 31, 2018	(145,231)
Other comprehensive loss before reclassifications	(35,816)
Net other comprehensive loss	(35,816)
Balance at September 30, 2019	$ (181,047)

EQUITY Weighted Average Common

EQUITY Weighted Average Common Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Equity [Abstract]
Weighted average common shares—basic	210,621,971	207,614,413	209,849,058	207,228,034
Effect of dilutive securities:
Stock options and restricted stock (in shares)	8,335,405	8,347,718	8,249,695	8,178,167
Convertible senior notes (in shares)	0	826,852	386,741	0
Weighted average common shares—diluted	218,957,376	216,788,983	218,485,494	215,406,201

EQUITY (Antidilutive Securities

EQUITY (Antidilutive Securities Excluded from Computation of Earnings per Share) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	9,355,864	11,173,628	9,531,213	12,014,980
Options to purchase shares of common stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	311,500	604,781	486,849	604,781
Restricted and deferred stock awards—unvested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	959,089	2,483,572	959,089	2,498,072
Conversion shares related to the convertible senior notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	8,085,275	8,085,275	8,085,275	8,912,127

REVENUE RECOGNITION (Concerts R

REVENUE RECOGNITION (Concerts Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 3,773,684	$ 3,835,246	$ 8,658,521	$ 8,185,945
Operating Segments [Member] | Concerts [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 3,173,843	$ 3,297,257	$ 7,131,491	$ 6,716,914
Percentage of Concert revenue to consolidated revenue	84.10%	86.00%	82.40%	82.10%
Percentage of Concerts revenue from events and festivals			95.00%

REVENUE RECOGNITION (Ticketing

REVENUE RECOGNITION (Ticketing Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 3,773,684	$ 3,835,246	$ 8,658,521	$ 8,185,945
Operating Segments [Member] | Ticketing [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 388,458	$ 368,312	$ 1,096,865	$ 1,091,880
Percentage of Ticketing revenue to consolidated revenue	10.30%	9.60%	12.70%	13.30%

REVENUE RECOGNITION (Ticketin_2

REVENUE RECOGNITION (Ticketing Contract Advances) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances			$ 54,120	$ 55,893
Ticketing [Member]
Capitalized Contract Cost [Line Items]
Amortization of non-recoupable ticketing contract advances	$ 19,900	$ 19,600	54,100	$ 55,900
Prepaid Expenses [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	97,000		97,000		$ 75,500
Other Noncurrent Assets [Member] | Ticketing [Member]
Capitalized Contract Cost [Line Items]
Ticketing contract advances	$ 104,700		$ 104,700		$ 78,500

REVENUE RECOGNITION (Sponsorshi

REVENUE RECOGNITION (Sponsorship & Advertising Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 3,773,684	$ 3,835,246	$ 8,658,521	$ 8,185,945
Operating Segments [Member] | Sponsorship and Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 215,247	$ 171,178	$ 441,862	$ 385,674
Percentage of The Sponsorship & Advertising revenue to consolidated revenue	5.70%	4.50%	5.10%	4.70%

REVENUE RECOGNITION (Performanc

REVENUE RECOGNITION (Performance Obligation) (Details) - Sponsorship and Advertising [Member] $ in Millions	Sep. 30, 2019USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue related to future benefits to be provided by the Company	$ 1,000
Percentage of revenue on contracts to be recognized during the remainder of 2019	8.00%
Percentage of revenue on contracts to be recognized in 2020	31.00%
Percentage of revenue on contracts to be recognized in 2021	23.00%
Percentage of revenue to be recognized on contracts after 2021	38.00%

REVENUE RECOGNITION (Deferred R

REVENUE RECOGNITION (Deferred Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Deferred Revenue Arrangement [Line Items]
Current deferred revenue	$ 1,115,874		$ 1,115,874		$ 1,227,797	$ 925,200
Recognition of deferred revenue	275,443	$ 177,463	1,175,092	$ 871,430
Concerts [Member]
Deferred Revenue Arrangement [Line Items]
Recognition of deferred revenue	260,907	166,381	1,093,890	809,930
Ticketing [Member]
Deferred Revenue Arrangement [Line Items]
Recognition of deferred revenue	11,538	7,820	59,284	39,559
Sponsorship and Advertising [Member]
Deferred Revenue Arrangement [Line Items]
Recognition of deferred revenue	2,436	3,062	19,188	20,350
Other and Corporate [Member]
Deferred Revenue Arrangement [Line Items]
Recognition of deferred revenue	$ 562	$ 200	$ 2,730	$ 1,591

SEGMENT DATA Segment Data (Deta

SEGMENT DATA Segment Data (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 3,773,684	$ 3,835,246	$ 8,658,521	$ 8,185,945
Direct operating expenses	2,800,429	2,924,356	6,279,447	5,991,547
Selling, general and administrative expenses	542,547	524,654	1,520,910	1,435,703
Depreciation and amortization	126,306	99,606	329,044	277,262
Loss (gain) on disposal of operating assets	(305)	10,318	(553)	10,464
Corporate expenses	44,666	42,093	121,909	108,055
Operating income (loss	260,041	234,219	407,764	362,914
Property, Plant and Equipment, Additions			229,135	172,903
Operating Segments [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	3,173,843	3,297,257	7,131,491	6,716,914
Direct operating expenses	2,636,344	2,767,949	5,853,380	5,554,368
Selling, general and administrative expenses	355,198	343,250	989,017	906,360
Depreciation and amortization	71,247	54,404	176,827	146,458
Loss (gain) on disposal of operating assets	(320)	10,317	(675)	10,452
Corporate expenses	0	0	0	0
Operating income (loss	111,374	121,337	112,942	99,276
Property, Plant and Equipment, Additions			127,818	88,338
Operating Segments [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	388,458	368,312	1,096,865	1,091,880
Direct operating expenses	127,123	133,050	359,502	377,121
Selling, general and administrative expenses	157,590	151,064	449,862	447,997
Depreciation and amortization	39,562	34,677	116,465	103,299
Loss (gain) on disposal of operating assets	15	2	122	13
Corporate expenses	0	0	0	0
Operating income (loss	64,168	49,519	170,914	163,450
Property, Plant and Equipment, Additions			78,414	71,336
Operating Segments [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	215,247	171,178	441,862	385,674
Direct operating expenses	41,617	23,191	80,634	68,142
Selling, general and administrative expenses	29,055	25,325	79,661	68,534
Depreciation and amortization	11,332	8,871	24,780	23,613
Loss (gain) on disposal of operating assets	0	0	0	0
Corporate expenses	0	0	0	0
Operating income (loss	133,243	113,791	256,787	225,385
Property, Plant and Equipment, Additions			5,529	4,241
Operating Segments [Member] | Other [Member]
Segment Reporting Information [Line Items]
Revenue	791	932	2,372	2,886
Direct operating expenses	0	2,599	0	3,325
Selling, general and administrative expenses	704	5,015	2,370	12,812
Depreciation and amortization	145	212	404	599
Loss (gain) on disposal of operating assets	0	0	0	0
Corporate expenses	0	0	0	0
Operating income (loss	(58)	(6,894)	(402)	(13,850)
Property, Plant and Equipment, Additions			0	149
Operating Segments [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Direct operating expenses	0	0	0	0
Selling, general and administrative expenses	0	0	0	0
Depreciation and amortization	4,020	1,442	10,568	3,293
Loss (gain) on disposal of operating assets	0	(1)	0	(1)
Corporate expenses	44,666	42,093	121,909	108,055
Operating income (loss	(48,686)	(43,534)	(132,477)	(111,347)
Property, Plant and Equipment, Additions			17,374	8,839
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(4,655)	(2,433)	(14,069)	(11,409)
Direct operating expenses	(4,655)	(2,433)	(14,069)	(11,409)
Selling, general and administrative expenses	0	0	0	0
Depreciation and amortization	0	0	0	0
Loss (gain) on disposal of operating assets	0	0	0	0
Corporate expenses	0	0	0	0
Operating income (loss	0	0	0	0
Property, Plant and Equipment, Additions			0	0
Intersegment Eliminations [Member] | Concerts [Member]
Segment Reporting Information [Line Items]
Revenue	2,092	268	5,032	268
Intersegment Eliminations [Member] | Ticketing [Member]
Segment Reporting Information [Line Items]
Revenue	2,563	2,165	9,037	11,141
Intersegment Eliminations [Member] | Sponsorship and Advertising [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Intersegment Eliminations [Member] | Other [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Intersegment Eliminations [Member] | Corporate Segment
Segment Reporting Information [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

SUBSEQUENT EVENT - Debt Additio

SUBSEQUENT EVENT - Debt Additions and Repayments (Details) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Oct. 31, 2019USD ($)
Debt Instrument [Line Items]
Cash available for general corporate purposes	$ 527.2
Minimum [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	3
Maximum [Member]
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	5
4.75% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Face amount	$ 950
Interest rate, stated percentage	4.75%
Senior Secured Credit Facility Term Loan B [Member]
Debt Instrument [Line Items]
Face amount	$ 950
Existing Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Extinguishment of debt	$ 1,100
5.375% Senior Notes due 2022 [Member]
Debt Instrument [Line Items]
Interest rate, stated percentage	5.375%
Extinguishment of debt	$ 250
Redemption premium payment	3.4
5.375% Senior Notes due 2022 [Member] | Existing Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Payment of accrued interest and fees	$ 31.1

SUBSEQUENT EVENT - (Amended Sen

SUBSEQUENT EVENT - (Amended Senior Secured Credit Facility) (Details) - Subsequent Event [Member] $ in Millions	1 Months Ended
	Oct. 31, 2019USD ($)
Senior Secured Credit Facility Delayed Draw Term Loan A [Member]
Debt Instrument [Line Items]
Maturity period	5 years
Face amount	$ 400
Delayed draw term loan A facility is available to be drawn	2 years
Senior Secured Credit Facility Delayed Draw Term Loan A [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument periodic payment of principal percentage	0.625%
Senior Secured Credit Facility Delayed Draw Term Loan A [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument periodic payment of principal percentage	1.25%
Senior Secured Credit Facility Term Loan B [Member]
Debt Instrument [Line Items]
Maturity period	7 years
Face amount	$ 950
Debt instrument periodic payment, principal	$ 2.4
Senior Secured Credit Facility Term Loan B [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Senior Secured Credit Facility Term Loan B [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Senior Secured Credit Facility Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity period	5 years
Maximum borrowing capacity under the revolving credit facility	$ 500
Senior Secured Credit Facility Revolving Credit Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility	150
Senior Secured Credit Facility Revolving Credit Facility [Member] | Swingline Loans [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility	50
Senior Secured Credit Facility Revolving Credit Facility [Member] | Euro And British Pound Line Of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility	300
Senior Secured Credit Facility Revolving Credit Facility [Member] | Other Foreign Currency Line Of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility	$ 100
Senior Secured Credit Facility Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Revolving credit facility, commitment fee on undrawn portion available	0.35%
Senior Secured Credit Facility [Member]
Debt Instrument [Line Items]
Additional borrowing capacity, senior secured leverage ratio maximum	3.75
Percentage of capital stock of foreign wholly-owned subsidiaries	65.00%
Senior Secured Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Additional borrowing capacity available	$ 985
Senior Secured Credit Facility Revolving Credit Facility And Delayed Draw Term Loan A [Member] | Maximum [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Senior Secured Credit Facility Revolving Credit Facility And Delayed Draw Term Loan A [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%

SUBSEQUENT EVENT - 4.75% Senior

SUBSEQUENT EVENT - 4.75% Senior Notes (Details) - Subsequent Event [Member] - 4.75% Senior Notes due 2027 [Member] $ in Millions	1 Months Ended
	Oct. 31, 2019USD ($)
Debt Instrument [Line Items]
Face amount	$ 950
Interest rate, stated percentage	4.75%
Prior to October 15, 2022 [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100.00%
Redemption, Equity Offerings [Member]
Debt Instrument [Line Items]
Redemption price, percentage	104.75%
Percentage of notes which may be redeemed	35.00%
After October 15, 2022 [Member]
Debt Instrument [Line Items]
Redemption price, percentage	103.563%
Redemption, Defined Changes Of Control [Member]
Debt Instrument [Line Items]
Redemption price, percentage	101.00%