iHeartMedia 2003 Annual Report Download - page 60

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CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
See Notes to Consolidated Financial Statements
60
Year Ended December 31,
2003 2002 2001
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $1,145,591 $(16,053,703) $(1,144,026)
Reconciling Items:
Cumulative effect of a change in accounting principle, net of tax — 16,778,526
—
Depreciation 533,181 483,656 594,104
Amortization of intangibles 138,157 137,110 1,968,376
Deferred taxes 533,092 344,223 (162,334)
Amortization of deferred financing charges, bond premiums and accretion
of note discounts, net 5,486 13,132 13,220
Amortization of deferred compensation 5,018 5,436 17,077
(Gain) loss on sale of operating and fixed assets (3,932) (37,145) (165,943)
(Gain) loss on sale of available-for-sale securities (31,862) — 32,684
(Gain) loss on sale of other investments (650,315) 20,689 22,927
(Gain) loss on sale of assets related to mergers —(3,991)213,706
(Gain) loss on forward exchange contrac
t
17,164 (29,536) (68,825)
(Gain) loss on trading securities (13,833)11,943 (12,606)
Equity in earnings of nonconsolidated affiliates (22,026) (26,928) (6,695)
Increase (decrease) other, net (37,184)(25,597)4,112
Changes in operating assets and liabilities, net of effects of acquisitions:
Decrease (increase) in accounts receivable (112,600)(59,027)107,278
Decrease (increase) in prepaid expenses 7,084 (40,295) 4,927
Decrease (increase) in other current assets (11,092)15,620 8,522
Increase (decrease) in accounts payable, accrued expenses and other
liabilities 111,632 189,383 (438,466)
Increase (decrease) in accrued interest 22,513 (22,363)(19,739)
Increase (decrease) in deferred income 2,152 30,747 12,250
Increase (decrease) in accrued income taxes 39,179 15,814 (370,962)
Net cash provided by operating activities 1,677,405 1,747,694 609,587