iHeartMedia 2001 Annual Report Download - page 44

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44
Fiscal Year 2000 Compared to Fiscal Year 1999
Consolidated
(In thousands)
Reported Basis: Years Ended December 31, % Change
2000 1999 2000 v. 1999
Revenue $ 5,345,306 $ 2,678,160 100%
Divisional Operating Expenses 3,480,706 1,632,115 113%
Corporate Expenses 142,627 70,146 103%
EBITDA as Adjusted * 1,721,973 975,899 76%
Reconciliation to net income:
Non-cash compensation expense 16,032
Depreciation and amortization 1,401,063 722,233
Interest expense 383,104 179,404
Gain on sale of assets related to mergers 783,743 138,659
Gain (loss) on marketable securities (5,369) 22,930
Equity in earnings of nonconsolidated affiliates 25,155 18,183
Other income (expense) – net (11,764) (15,638)
Income tax (expense) (464,731) (152,741)
Income before extraordinary item $ 248,808 $ 85,655
Other Data:
Cash Flow from Operating Activities $ 755,085 $ 639,406
Cash Flow from Investing Activities $ (1,755,654) $ (1,474,170)
Cash Flow from Financing Activities $ 1,120,683 $ 874,990
* See page 35 for cautionary disclosure
Pro Forma Basis: Years Ended December 31, % Change
2000 1999 2000 v. 1999
Revenue $ 6,756,293 $ 5,995,111 13%
Divisional Operating Expenses 4,238,801 3,888,345 9%