iHeartMedia 2014 Annual Report Download - page 117

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115
SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
Deferred Tax Asset Valuation Allowance
(In thousands)
Charges
Balance at
to Costs,
Balance
Beginning
Expenses
at end of
Description
of Period
and other (1)
Reversal (2)
Adjustments (3)
Period
Year ended December 31, 2012
$
193,052
$
14,309
$
(21,727)
$
(1,948)
$
183,686
Year ended December 31, 2013
$
183,686
$
149,107
$
(5)
$
(5,165)
$
327,623
Year ended December 31, 2014
$
327,623
$
356,583
$
(230)
$
(28,318)
$
655,658
(1) During 2012, 2013 and 2014, the Company recorded valuation allowances on deferred tax assets attributable to net operating
losses in certain foreign jurisdictions. In addition, during 2013 and 2014 the Company recorded a valuation allowance of
$143.5 million and $339.8 million, respectively, on a portion of its deferred tax assets attributable to federal and state net
operating loss carryforwards due to the uncertainty of the ability to utilize those losses in future periods.
(2) During 2012, 2013 and 2014, the Company realized the tax benefits associated with certain foreign deferred tax assets,
primarily related to foreign loss carryforwards, on which a valuation allowance was previously recorded. The associated
valuation allowance was reversed in the period in which, based on the weight of available evidence, it is more-likely-than-not
that the deferred tax asset will be realized.
(3) During 2012, 2013 and 2014, the Company adjusted certain valuation allowances as a result of changes in tax rates in certain
jurisdictions and as a result of the expiration of carryforward periods for net operating loss carryforwards.