iHeartMedia 2009 Annual Report Download - page 153
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Post-mer
g
er Period from Jul
y
31 throu
g
h December 31, 2008
(In thousands)
Parent
Company
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from o
p
eratin
g
activities:
Consolidated net income (loss)
$ (5,095,942) $ (5,093,258) $ (4,677,461) $ (3,006,202) $ 12,830,384 $ (5,042,479)
Less: Income (loss) from discontinued operations, net — — (1,845) — — (1,845)
Net income (loss) from continuing operations
(5,095,942) (5,093,258) (4,675,616) (3,006,202) 12,830,384 (5,040,634)
Reconcilin
g
items:
Depreciation and amortization
— — 122,807 225,234 — 348,041
Impairment charges
— — 2,051,209 3,217,649 — 5,268,858
Deferred taxes
397 (71,627) (278,330) (270,334)
—
(619,894)
Provision for doubtful accounts
— — 30,363 24,240 — 54,603
Amortization of deferred financing charges, bond premiums,
and accretion of note discounts
— 104,687 (1,288) — (540) 102,859
Share-based compensation
— — 11,728 4,183 — 15,911
(Gain) loss on sale of operating assets
— — (8,335) (4,870) — (13,205)
(Gain) loss on forward exchange contract
— — — — — —
(Gain) loss on securities
—
—
56,710 59,842
—
116,552
Equity in (earnings) loss of nonconsolidated affiliates 5,093,258 4,675,297 3,007,885 (5,804) (12,776,440) (5,804)
(Gain) loss on debt extinguishment
— (60,690) (2,538) — (53,449) (116,677)
Other reconciling items - net
— — 1,590 10,499 — 12,089
Chan
g
es in o
p
eratin
g
assets and liabilities:
Changes in other operating assets and liabilities, net of effects
of ac
q
uisitions and dis
p
ositions
(3,433) 122,909 (13,917) 19,311 (1,543) 123,327
Net cash provided by (used in) operating activities
(5,720) (322,682) 302,268 273,748 (1,588) 246,026
Cash flows from investin
g
activities:
Decrease (increase) in notes receivable - net
—
—
572 169
—
741
Decrease (increase) in investments in and advances to
nonconsolidated affiliates - net
— — — 3,909 — 3,909
Purchase of other investments
— — — (26,068) 26,042 (26)
Purchases of property, plant and equipment
— — (30,536) (159,717) — (190,253)
Proceeds from disposal of assets
— — 14,038 2,917 — 16,955
Ac
q
uisition of o
p
eratin
g
assets
—
(26,042) (11,551) (11,677) 26,042 (23,228)
Decrease (increase) in other - net
— 39,891 (69,382) (17,851) — (47,342)
Cash used to purchase equity
(2,142,830) (15,329,629) — — — (17,472,459)
Net cash
p
rovided b
y
(used in) investin
g
activities
(2,142,830) (15,315,780) (96,859) (208,318) 52,084 (17,711,703)