iHeartMedia 2001 Annual Report Download - page 97

Download and view the complete annual report

Please find page 97 of the 2001 iHeartMedia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 111

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111

97
(In thousands) As of December 31,
2001 2000
The following details the components of “Other current assets”:
Current film rights $ 20,451 $ 17,533
Inventory 45,004 37,017
Other 77,941 79,323
Total other current assets $ 143,396 $ 133,873
The following details the components of “Accrued expenses”:
Acquisition accruals $ 225,018 $ 384,025
Accrued liabilities - other 551,950 502,879
Total accrued expenses $ 776,968 $ 886,904
The following details the components of “Accumulated
other comprehensive income (loss)”:
Cumulative currency translation adjustment $ (126,448) $ (138,147)
Cumulative unrealized gain on investments 91,978 105,714
Total accumulated other comprehensive income (loss) $ (34,470) $ (32,433)
NOTE K - SEGMENT DATA
The Company has three reportable operating segments – radio broadcasting, outdoor advertising and live
entertainment. Revenue and expenses earned and charged between segments are recorded at fair value
and eliminated in consolidation. At December 31, 2001, the radio broadcasting segment included 1,165
radio stations for which the Company is the licensee and 75 radio stations operated under lease
management or time brokerage agreements. The radio broadcasting segment also operates various radio
networks. At December 31, 2001, the outdoor advertising segment owned or operated 730,039
advertising display faces. Of these, 156,623 are in U.S. markets and the remaining 573,416 displays are
in international markets. At December 31, 2001, the live entertainment segment owned or operated 96
venues. Of these, 68 venues are in 34 domestic markets and the remaining 28 venues are in three
international markets.
“Other” includes television broadcasting, sports representation and media representation.
(In thousands)
Radio
Broadcasting
Outdoor
Advertising
Live
Entertainment
Other
Corporate
Eliminations
Consolidated
2001
Revenue $ 3,455,553 $ 1,748,031 $ 2,477,640 $ 423,651 $ $ (134,872) $ 7,970,003
Divisional operating expenses 2,104,719 1,220,681 2,327,109 349,069 (134,872) 5,866,706
Non-cash compensation 12,373   738 3,966 17,077
Depreciation 218,125 254,349 63,637 35,001 22,992
594,104
Amortization 1,401,861 305,149 226,410 34,956 1,968,376
Corporate expenses — — — — 187,434 — 187,434
Operating income (loss) $ (281,525) $ (32,148) $ (139,516) $ 3,887 $ (214,392)$ —$ (663,694)
Identifiable assets $33,406,019 $ 7,707,761 $ 5,412,507 $ 874,037 $ 202,818 $ $47,603,142
Capital expenditures $ 144,786 $ 264,727 $ 67,555 $ 84,446 $ 36,874
$ $ 598,388