iHeartMedia 2001 Annual Report Download - page 34

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34
ITEM 6. Selected Financial Data
(In thousands, except per share data)
As of and for the Years ended December 31, (1)
2001 2000 1999 1998 1997
Results of Operations Information:
Revenue $ 7,970,003 $ 5,345,306 $ 2,678,160 $ 1,350,940 $ 697,068
Operating Expenses:
Divisional operating expenses 5,866,706 3,480,706 1,632,115 767,265 394,404
Non-cash compensation expense 17,077 16,032
Depreciation and amortization 2,562,480 1,401,063 722,233 304,972 114,207
Corporate expenses 187,434 142,627 70,146 37,825 20,883
Operating income (loss) (663,694) 304,878 253,666 240,878 167,574
Interest expense 560,077 383,104 179,404 135,766 75,076
Gain (loss) on sale of assets
related to mergers (213,706) 783,743 138,659
Gain (loss) on marketable securities 25,820 (5,369) 22,930 39,221 10,019
Equity in earnings of
nonconsolidated affiliates 10,393 25,155 18,183 10,305 9,132
Other income (expense) - net 152,267 (11,764) (15,638) (26,411) 1,560
Income before income taxes and
extraordinary item (1,248,997) 713,539 238,396 128,227 113,209
Income tax benefit (expense) 104,971 (464,731) (152,741) (74,196) (49,633)
Income before extraordinary item (1,144,026) 248,808 85,655 54,031 63,576
Extraordinary item — — (13,185) — —
Net income (loss) $ (1,144,026) $ 248,808 $ 72,470 $ 54,031 $ 63,576
Net income(loss) per common share (2)
Basic:
Income (loss) before
extraordinary item $ (1.93) $ .59 $ .27 $ .23 $ .36
Extraordinary item — — (.04) — —
Net income (loss) $ (1.93) $ .59 $ .23 $ .23 $ .36
Diluted:
Income (loss) before
extraordinary item $ (1.93) $ .57 $ .26 $ .22 $ .33
Extraordinary item — — (.04) — —
Net income (loss) $ (1.93) $ .57 $ .22 $ .22 $ .33
Cash dividends per share $ — $ — $ — $ — $ —
Balance Sheet Data:
Current assets $1,941,299 $2,343,217 $ 925,109 $ 409,960 $ 210,742
Property, plant and equipment - net 3,956,749 4,255,234 2,478,124 1,915,787 746,284
Total assets 47,603,142 50,056,461 16,821,512 7,539,918 3,455,637
Current liabilities 2,959,857 2,128,550 685,515 258,144 86,852
Long-term debt, net of current maturities 7,967,713 10,597,082 4,584,352 2,323,643 1,540,421
Shareholders' equity 29,736,063 30,347,173 10,084,037 4,483,429 1,746,784
(1) Acquisitions and dispositions significantly impact the comparability of the historical consolidated financial data
reflected in this schedule of Selected Financial Data.
(2) All per share amounts have been adjusted to reflect the two-for-one stock split effected in July 1998.
The Selected Financial Data should be read in conjunction with Management’s Discussion and Analysis.