iHeartMedia 2002 Annual Report Download - page 102

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(In thousands)
NOTE M —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, 2002 the radio broadcasting
segment included 1,184 radio stations for which the Company is the licensee and 63 radio stations operated under lease management or time
brokerage agreements. The radio broadcasting segment also operates various radio networks. At December 31, 2002, the outdoor advertising
segment owned or operated 716,039 advertising display faces. Of these, 144,097 are in U.S. markets and the remaining 571,942 displays are in
international markets. At December 31, 2002, the live entertainment segment owned or operated 102 venues. Of these, 76 venues are in 37
domestic markets and the remaining 26 venues are in 3 international markets.
“Other”includes television broadcasting, sports representation and media representation.
(In thousands)
94
As of December 31
,
2002 2001
The following details the components of “Accumulated other comprehensive income (loss)”:
Cumulative currency translation adjustment $(44,707) $(126,448)
Cumulative unrealized gain on investments (3,091)91,978
Total accumulated other comprehensive income (loss) $(47,798) $ (34,470)
Radio Outdoor Live
Broadcastin
g
Advertisin
g
Entertainment Other Cor
p
orate Eliminations Consolidated
2002
Revenue $ 3,717,243 $1,859,643 $2,447,302 $ 528,374 $
—
$(131,507) $ 8,421,055
Divisional operating expenses 2,126,139 1,354,092 2,289,654 414,383
—
(131,507)6,052,761
Non-cash compensation 4,400
—
—
—
1,036 —5,436
Depreciation 105,907 271,683 59,577 21,364 25,125 —483,656
Amortization 48,034 65,212 1,941 21,923
—
—137,110
Corporate expenses —
—
—
—
176,370 —176,370
Operating income (loss) $ 1,432,763 $ 168,656 $ 96,130 $ 70,704 $(202,531) $ —$ 1,565,722
Identifiable assets $19,826,656 $4,647,200 $1,297,420 $1,422,661 $478,216 $ — $27,672,153
Capital expenditures $ 115,199 $ 292,618 $ 63,422 $ 23,850 $ 53,553 $ —$ 548,642
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