iHeartMedia 2006 Annual Report Download - page 91

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91
(In thousands) As of December 31,
2006 2005
The following details the components of “Accumulated other comprehensive
income (loss)”:
Cumulative currency translation adjustment $225,459 $ 138,028
Cumulative unrealized gain on investments 76,105 136,621
Cumulative unrealized gain (loss) on cash flow derivatives 3,411 (72,721)
Total accumulated other comprehensive income (loss) $304,975 $ 201,928
NOTE O - SEGMENT DATA
The Company’s reportable operating segments are radio broadcasting, Americas outdoor advertising and
international outdoor advertising. Revenue and expenses earned and charged between segments are recorded at fair
value and eliminated in consolidation. The radio broadcasting segment also operates various radio networks. The
Americas outdoor advertising segment consists of our operations primarily in the United States, Canada and Latin
America, with approximately 94% of its 2006 revenues in this segment derived from the United States. The
international outdoor segment includes operations in Europe, Asia, Africa and Australia. The Americas and
international display inventory consists primarily of billboards, street furniture displays and transit displays. The
other category includes our television business and our media representation firm, as well as other general support
services and initiatives which are ancillary to our other businesses. Share-based payments are recorded by each
segment in direct operating and selling, general and administrative expenses.
(In thousands)
Radio
Broadcasting
Americas
Outdoor
Advertising
International
Outdoor
Advertising
Other
Corporate, merger
and gain on
disposition of
assets - net
Eliminations
Consolidated
2006
Revenue $ 3,697,190 $ 1,341,356 $ 1,556,365 $ 602,113 $ ⎯ $ (130,067) $ 7,066,957
Direct operating expenses 1,028,439 534,365 918,735 228,486 ⎯ (59,932) 2,650,093
Selling, general and
administrative expenses
1,252,556
207,326
341,410
237,712
—
(70,135)
1,968,869
Depreciation and amortization 135,980 178,970 228,760 70,526 19,587 ⎯ 633,823
Corporate expenses — — — — 201,752 — 201,752
Merger expenses — — — — 7,633 — 7,633
Gain on disposition of assets -
net
—
—
—
—
69,330
—
69,330
Operating income (loss) $ 1,280,215 $ 420,695 $ 67,460 $ 65,389 $ (159,642) $ — $ 1,674,117
Intersegment revenues $ 40,939 $ 10,647 $ — $ 78,481 $ ⎯ $ ⎯ $ 130,067
Identifiable assets $ 12,175,907 $ 2,820,737 $ 2,401,924 $ 1,102,377 $ 324,137 $ ⎯ $ 18,825,082
Capital expenditures $ 99,671 $ 90,495 $ 143,387 $ 10,005 $ 6,935 $ ⎯ $ 350,493
Share-based payments $ 25,237 $ 4,699 $ 1,312 $ 3,904 $ 9,126
$ ⎯ $ 44,278