iHeartMedia 2006 Annual Report Download - page 31

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31
For the Years ended December 31,
2006 2005 2004 2003 2002
Net income (loss) per common share: (1)
Basic:
Income (loss) before discontinued
operations and cumulative effect of a
change in accounting principle $ 1.37 $ 1.16 $ 1.33 $ 1.67 $ 1.11
Discontinued operations .01 .55 .09 .19 .09
Income (loss) before cumulative effect
of a change in accounting principle 1.38 1.71 1.42 1.86 1.20
Cumulative effect of a change in
accounting principle — — (8.19) — (27.65)
Net income (loss) $ 1.38 $ 1.71 $ (6.77) $ 1.86 $ (26.45)
Diluted:
Income (loss) before discontinued
operations and cumulative effect of a
change in accounting principle $ 1.37 $ 1.16 $ 1.33 $ 1.66 $ 1.10
Discontinued operations .01 .55 .08 .19 .08
Income (loss) before cumulative effect
of a change in accounting principle 1.38 1.71 1.41 1.85 1.18
Cumulative effect of a change in
accounting principle — — (8.16) — (26.74)
Net income (loss) $ 1.38 $ 1.71 $ (6.75) $ 1.85 $ (25.56)
Dividends declared per share $ .75 $ .69 $ .45 $ .20 $ —
(In thousands) As of December 31,
2006 2005 2004 2003 2002
Balance Sheet Data: (1)
Current assets $ 2,205,730 $ 2,398,294 $ 2,269,922 $ 2,185,682 $ 2,123,495
Property, plant and equipment - net 3,220,956 3,237,936 3,310,132 3,457,353 3,473,930
Total assets 18,890,179 18,703,376 19,927,949 28,352,693 27,672,153
Current liabilities 1,663,846 2,107,313 2,184,552 1,892,719 3,010,639
Long-term debt, net of current maturities 7,326,700 6,155,363 6,941,996 6,898,722 7,357,769
Shareholders' equity 8,042,341 8,826,462 9,488,078 15,553,939 14,210,092
092
(1) Acquisitions and dispositions impact the comparability of the historical consolidated financial data reflected in this
schedule of Selected Financial Data.
(2) We recorded a non-cash charge of $4.9 billion, net of deferred taxes of $3.0 billion, as a cumulative effect of a
change in accounting principle during the fourth quarter of 2004 as a result of the adoption of EITF Topic D-108,
Use of the Residual Method to Value Acquired Assets other than Goodwill. We recorded a non-cash charge of $16.8
billion, net of deferred taxes of $4.3 billion, in 2002 as a result of the adoption of Financial Accounting Standards
Statement 142, Goodwill and Other Intangible Assets.
The Selected Financial Data should be read in conjunction with Management’s Discussion and Analysis.