iHeartMedia 2003 Annual Report Download - page 97

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SCHEDULE II
VALUATION AND QUALIFYING ACCOUNTS
Deferred Tax Asset Valuation Allowance
(In thousands)
97
Charges
Balance at to Costs, Balance
Beginning Expenses at end of
Description of period and other Deletions (2) Other (1) Period
Year ended
December 31,
2001 $
—
$
—
$
—
$164,070 $164,070
Year ended
December 31,
2002 $164,070 $
—
$97,403 $ — $ 66,667
Year ended
December 31,
2003 $66,667 $
—
$5,995 $ — $ 60,672
(1) Related to allowance for net operating loss carryforwards and other deferred tax assets assumed in acquisitions.
(2) Based on the Company’s reassessment of the likelihood of the realization of future benefits, the valuation allowance was reduced to zero
during 2000. In 2002 and 2003, the Company utilized net operating loss carryforwards and certain deferred tax assets, which resulted in the
reduction of the allowance for those net operating loss carryforwards and other assets.