iHeartMedia 2009 Annual Report Download - page 147
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142
Post-mer
g
er Year Ended December 31, 2009
(In thousands)
Parent
Company
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
Revenue
$— $— $2,831,773 $ 2,723,840 $ (3,704) $ 5,551,909
Operating expenses:
Direct operating expenses
— — 953,870 1,630,330 (937) 2,583,263
Selling, general and administrative expenses
— — 967,683 501,677 (2,767) 1,466,593
Depreciation and amortization
— — 324,204 441,270 — 765,474
Cor
p
orate ex
p
enses
14,690 15 174,012 65,247
—
253,964
Merger expenses
— — — — — —
Impairment charges
— — 3,223,941 894,983 — 4,118,924
Other operating income (expense) – net
— — (42,606) (8,231) — (50,837)
Operating income (loss)
(14,690) (15) (2,854,543) (817,898) — (3,687,146)
Interest expense, net
20 1,371,161 20,218 83,846 25,621 1,500,866
Loss on marketable securities
— — (273) (13,098) — (13,371)
Equity in earnings (loss) of nonconsolidated affiliates (4,367,740) (3,770,825) (872,212) (20,622) 9,010,710 (20,689)
Other income (expense) – net
— 407,748 (10,642) (85,981) 368,591 679,716
Income before income taxes and discontinued operations (4,382,450) (4,734,253) (3,757,888) (1,021,445) 9,353,680 (4,542,356)
Income tax benefit (expense)
5,394 366,513 (25,702) 147,115 — 493,320
Income (loss) before discontinued operations
(4,377,056) (4,367,740) (3,783,590) (874,330) 9,353,680 (4,049,036)
Income (loss) from discontinued operations, net
— — — — — —
Consolidated net income (loss)
(4,377,056) (4,367,740) (3,783,590) (874,330) 9,353,680 (4,049,036)
Amount attributable to noncontrolling interest
— — (10,604) (4,346) — (14,950)
Net income (loss) attributable to the Company
$(4,377,056) $(4,367,740) $(3,772,986) $ (869,984) $ 9,353,680 $ (4,034,086)