iHeartMedia 2007 Annual Report Download - page 63
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LIABILITIES AND SHAREHOLDERS’ EQUITY
(In thousands, except share data)
See Notes to Consolidated Financial Statements
62
December 31, December 31,
2007 2006
CURRENT LIABILITIES
Accounts payable $ 165,533 $ 151,577
Accrued expenses 912,665 884,479
Accrued interest 98,601 112,049
Accrued income taxes 79,973
—
Current portion of long-term debt 1,360,199 336,375
Deferred income 158,893 134,287
Current liabilities from discontinued operations 37,413 45,079
Total Current Liabilities 2,813,277 1,663,846
Long-term debt 5,214,988 7,326,700
Other long-term obligations 127,384 68,509
Deferred income taxes 796,982 737,576
Other long-term liabilities 567,848 673,954
Long-term liabilities from discontinued operations 51,198 24,621
Minority interest 436,360 349,391
Commitments and contingent liabilities (Note I)
SHAREHOLDERS’ EQUITY
Preferred Stock — Class A, par value $1.00 per share, authorized 2,000,000 shares, no shares issued and
outstanding
Preferred Stock — Class B, par value $1.00 per share, authorized 8,000,000 shares, no shares issued and
outstanding
Common Stock, par value $.10 per share, authorized 1,500,000,000 shares, issued 498,075,417 and
493,982,851 shares in 2007 and 2006, respectively 49,808 49,399
Additional paid-in capital 26,858,079 26,745,687
Retained defici
t
(18,489,143) (19,054,365)
Accumulated other comprehensive income 383,698 304,975
Cost of shares (157,744 in 2007 and 114,449 in 2006) held in treasury (4,951) (3,355)
Total Shareholders’ E
q
uit
y
8,797,491 8,042,341
Total Liabilities and Shareholders’ E
q
uit
y
$ 18,805,528 $ 18,886,938