iHeartMedia 2009 Annual Report Download - page 134

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Share-Based Compensation Cost
Share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense on a
straight-line basis over the vesting period. The following table presents the amount of share-based compensation recorded during the
year ended December 31, 2009, five months ended December 31, 2008, the seven months ended July 30, 2008 and the year ended
December 31, 2007:
As of December 31, 2009, there was $83.9 million of unrecognized compensation cost, net of estimated forfeitures, related to
unvested share-based compensation arrangements that will vest based on service conditions. This cost is expected to be recognized
over three years. In addition, as of December 31, 2009, there was $80.2 million of unrecognized compensation cost, net of estimated
forfeitures, related to unvested share-based compensation arrangements that will vest based on market, performance and service
conditions. This cost will be recognized when it becomes probable that the performance condition will be satisfied.
129
(In thousands)
Post-Merger
Pre-Merger
Year Ended
December 31,
2009
July 31 –
December 31,
2008
January 1 –
July 30,
2008
Year Ended
December 31,
2007
Direct operating expenses
$11,361
$4,631
$21,162
$16,975
Selling, general & administrative expenses
7,304
2,687
21,213
14,884
Corporate expenses
21,121
8,593
20,348
12,192
Total share based compensation expense
$ 39,786
$ 15,911
$ 62,723
$ 44,051