| Investments In Affiliates Accounted For Using The Equity Method |
(7)听听Investments in Affiliates Accounted for Using the Equity Method
麻豆最新出品 has various investments accounted for using the equity method. The following table includes the Company鈥檚 carrying amount and percentage ownership and market value (Level听1) of the more significant investments in affiliates at December 31, 2024, and the carrying amount at December听31, 2023:
鈥
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|
|
|
|
|
|
|
|
|
鈥 |
鈥 |
December听31,听2024 |
鈥 |
December听31,听2023 |
听 |
鈥 |
听听听听 |
Percentage |
听听听听 |
Fair Value |
听听听听 |
Carrying |
听听听听 |
Carrying |
听 |
鈥 |
鈥 |
ownership |
鈥 |
(Level 1) |
鈥 |
amount |
鈥 |
amount |
听 |
|
鈥 |
鈥 |
dollar听amounts听in听millions |
听 |
Formula One Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Other |
听 |
various |
鈥 |
听 |
NA |
听 |
$ |
33 |
听 |
41 |
鈥 |
Total Formula One Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
33 |
听 |
41 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
麻豆最新出品 Live Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Live Nation |
鈥 |
30% |
鈥 |
$ |
9,019 |
听 |
鈥 |
430 |
鈥 |
307 |
鈥 |
Other |
鈥 |
鈥 |
鈥 |
鈥 |
NA |
鈥 |
鈥 |
28 |
鈥 |
26 |
鈥 |
Total 麻豆最新出品 Live Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
458 |
鈥 |
333 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Consolidated 麻豆最新出品 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
$ |
491 |
鈥 |
374 |
鈥 |
鈥
鈥
The following table presents the Company鈥檚 share of earnings (losses) of affiliates:
鈥
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|
|
|
|
|
|
|
|
鈥 |
鈥 |
Years听ended听December听31, |
听 |
鈥 |
听听听听 |
2024 |
听听听听 |
2023 |
听听听听 |
2022 |
听 |
|
鈥 |
鈥 |
amounts听in听millions |
听 |
Formula One Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Other (a) |
鈥 |
$ |
(10) |
听 |
(4) |
听 |
鈥 |
鈥 |
Total Formula One Group |
鈥 |
鈥 |
(10) |
鈥 |
(4) |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
麻豆最新出品 Live Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Live Nation (a) |
鈥 |
鈥 |
236 |
鈥 |
21 |
鈥 |
NA |
鈥 |
Other (a) |
鈥 |
鈥 |
2 |
鈥 |
1 |
鈥 |
NA |
鈥 |
Total 麻豆最新出品 Live Group |
鈥 |
鈥 |
238 |
鈥 |
22 |
鈥 |
NA |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
麻豆最新出品 SiriusXM Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Live Nation (a) |
鈥 |
鈥 |
NA |
鈥 |
127 |
鈥 |
72 |
鈥 |
Total 麻豆最新出品 SiriusXM Group |
鈥 |
鈥 |
NA |
鈥 |
127 |
鈥 |
72 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Braves Group |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Other |
鈥 |
鈥 |
NA |
鈥 |
12 |
鈥 |
32 |
鈥 |
Total Braves Group |
鈥 |
鈥 |
NA |
鈥 |
12 |
鈥 |
32 |
鈥 |
Consolidated 麻豆最新出品 |
鈥 |
$ |
228 |
听 |
157 |
听 |
104 |
鈥 |
| (a) |
麻豆最新出品鈥檚 interests in Live Nation and certain other equity affiliates were reattributed to the 麻豆最新出品 Live Group effective August 3, 2023. 麻豆最新出品鈥檚 share of earnings (losses) related to these affiliates were reflected in the results of the 麻豆最新出品 SiriusXM Group and the Formula One Group prior to the Reclassification and are reflected in the results of the 麻豆最新出品 Live Group following the Reclassification.
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鈥
鈥
Live Nation
Live Nation is considered the world鈥檚 leading live entertainment company and seeks to innovate and enhance the live entertainment experience for artists and fans before, during and after the show.
See note听9 for details regarding the number and fair value of Live Nation common stock pledged as collateral pursuant to the margin loan secured by shares of Live Nation (鈥淟ive Nation Margin Loan鈥) as of December 31, 2024.
Summarized financial information for Live Nation is as follows:
Consolidated Balance Sheets
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|
鈥 |
鈥 |
December 31, |
鈥 |
鈥 |
听听听听 |
2024 |
听听听听 |
2023 |
听听听听 |
|
鈥 |
鈥 |
amounts in millions |
鈥 |
Current assets |
鈥 |
$ |
9,290 |
听 |
9,533 |
听 |
Property, plant and equipment, net |
鈥 |
听 |
2,442 |
听 |
2,101 |
听 |
Intangible assets |
鈥 |
鈥 |
1,366 |
鈥 |
1,539 |
鈥 |
Goodwill |
鈥 |
听 |
2,621 |
听 |
2,691 |
听 |
Other assets |
鈥 |
鈥 |
3,920 |
鈥 |
3,166 |
鈥 |
Total assets |
鈥 |
$ |
19,639 |
听 |
19,030 |
听 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Current liabilities |
鈥 |
$ |
9,358 |
鈥 |
9,984 |
鈥 |
Long-term debt, net |
鈥 |
鈥 |
6,177 |
鈥 |
5,459 |
鈥 |
Other liabilities |
鈥 |
鈥 |
2,159 |
鈥 |
2,175 |
鈥 |
Redeemable noncontrolling interests |
鈥 |
鈥 |
1,126 |
鈥 |
860 |
鈥 |
Equity |
鈥 |
鈥 |
819 |
鈥 |
552 |
鈥 |
Total liabilities and equity |
鈥 |
$ |
19,639 |
鈥 |
19,030 |
鈥 |
鈥
Consolidated Statements of Operations
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|
|
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|
|
|
|
鈥 |
鈥 |
Years听ended听December听31, |
鈥 |
鈥 |
鈥 |
2024 |
听听听听 |
2023 |
听听听听 |
2022 |
鈥 |
|
鈥 |
鈥 |
amounts in millions |
鈥 |
Revenue |
鈥 |
$ |
23,156 |
听 |
22,726 |
听 |
16,681 |
鈥 |
Operating expenses: |
鈥 |
听 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
鈥 |
Direct operating expenses |
鈥 |
鈥 |
17,328 |
鈥 |
17,251 |
鈥 |
12,348 |
鈥 |
Selling, general and administrative expenses |
鈥 |
听 |
4,096 |
听 |
3,557 |
听 |
2,956 |
鈥 |
Depreciation and amortization |
鈥 |
鈥 |
550 |
鈥 |
517 |
鈥 |
450 |
鈥 |
Other operating expenses |
鈥 |
鈥 |
357 |
鈥 |
316 |
鈥 |
205 |
鈥 |
鈥 |
鈥 |
鈥 |
22,331 |
听 |
21,641 |
听 |
15,959 |
鈥 |
Operating income (loss) |
鈥 |
鈥 |
825 |
鈥 |
1,085 |
鈥 |
722 |
鈥 |
Interest expense |
鈥 |
鈥 |
(326) |
鈥 |
(350) |
鈥 |
(278) |
鈥 |
Other income (expense), net |
鈥 |
鈥 |
240 |
鈥 |
178 |
鈥 |
46 |
鈥 |
Earnings (loss) before income taxes |
鈥 |
鈥 |
739 |
鈥 |
913 |
鈥 |
490 |
鈥 |
Income tax (expense) benefit |
鈥 |
鈥 |
392 |
鈥 |
(209) |
鈥 |
(116) |
鈥 |
Net earnings (loss) |
鈥 |
鈥 |
1,131 |
鈥 |
704 |
鈥 |
374 |
鈥 |
Less net earnings (loss) attributable to noncontrolling interests |
鈥 |
鈥 |
235 |
鈥 |
147 |
鈥 |
108 |
鈥 |
Net earnings (loss) attributable to Live Nation stockholders |
鈥 |
$ |
896 |
鈥 |
557 |
鈥 |
266 |
鈥 |
鈥
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