iHeartMedia 2001 Annual Report Download - page 36

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36
Fiscal Year 2001 Compared to Fiscal Year 2000
Consolidated
(In thousands)
Reported Basis: Years Ended December 31, % Change
2001 2000 2001 v. 2000
Revenue $ 7,970,003 $ 5,345,306 49%
Divisional Operating Expenses 5,866,706 3,480,706 69%
Corporate Expenses 187,434 142,627 31%
EBITDA as Adjusted * 1,915,863 1,721,973 11%
Reconciliation to net income (loss):
Non-cash compensation expense 17,077 16,032
Depreciation and amortization 2,562,480 1,401,063
Interest expense 560,077 383,104
Gain (loss) on sale of assets related to mergers (213,706) 783,743
Gain (loss) on marketable securities 25,820 (5,369)
Equity in earnings of nonconsolidated affiliates 10,393 25,155
Other income (expense) – net 152,267 (11,764)
Income tax benefit (expense) 104,971 (464,731)
Net income (loss) $ (1,144,026) $ 248,808
Other Data:
Cash Flow from Operating Activities $ 609,587 $ 755,085
Cash Flow from Investing Activities $ 90,274 $ (1,755,654)
Cash Flow from Financing Activities $ (741,955) $ 1,120,683
* See page 35 for cautionary disclosure
Pro Forma Basis: Years Ended December 31, % Change
2001 2000 2001 v. 2000
Revenue $ 8,015,403 $ 8,440,122 (5)%
Divisional Operating Expenses 5,902,405 5,735,156 3%
Reconciliation of Reported Basis to Pro Forma Basis
(In thousands)
Years Ended December 31,
2001 2000
Reported Revenue $ 7,970,003 $ 5,345,306
Acquisitions 3,186,693
Divestitures (6,146) (91,877)
Foreign Exchange adjustments 51,546 —
Pro Forma Revenue $ 8,015,403 $ 8,440,122
Reported Divisional Operating Expenses $ 5,866,706 $3,480,706
Acquisitions 2,297,219
Divestitures (6,140) (42,769)
Foreign Exchange adjustments 41,839 —
Pro Forma Divisional Operating Expenses $ 5,902,405 $ 5,735,156