iHeartMedia 2009 Annual Report Download - page 148
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143
Pos
t
-merger
Period from July 31 through December 31, 2008
(In thousands)
Parent
Company
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries
Eliminations
Consolidate
d
Revenue
$
—
$
—
$1,403,440
$1,338,014
$(4,513)
$2,736,941
Operating expenses:
Direct operating expenses
—
—
438,698
760,175
(528)
1,198,345
Selling, general and administrative
expenses
—
—
536,440
274,332
(3,985)
806,787
Depreciation and amortization
—
—
122,807
225,234
—
348,041
Impairment charges
—
—
2,051,209
3,217,649
—
5,268,858
Corporate expenses
4,236
391
65,968
31,681
—
102,276
Merger expenses
—
68,085
—
—
—
68,085
Other operating income – net
—
—
8,335
4,870
—
13,205
Operating income (loss)
(4,236)
(68,476)
(1,803,347)
(3,166,187)
—
(5,042,246)
Interest (income) expense, net
9
635,731
7,756
72,767
(495)
715,768
Loss on marketable securities
—
—
(56,710) (59,842)
—
(116,552)
Equity in earnings (loss) of
nonconsolidated affiliates
(5,093,258)
(4,675,297)
(3,007,885)
5,804
12,776,440
5,804
Other income (expense) – ne
t
(2)
52,243
3,496
22,319
53,449
131,505
Income before income taxes and
discontinued operations
(5,097,505)
(5,327,261)
(4,872,202)
(3,270,673)
12,830,384
(5,737,257)
Income tax benefit (expense)
1,563
234,003
196,586
264,471
—
696,623
Income (loss) before discontinued
operations
(5,095,942)
(5,093,258) (4,675,616) (3,006,202)
12,830,384
(5,040,634)
Income (loss) from discontinued
operations, net
—
—
(1,845)
—
—
(1,845)
Consolidated net income (loss)
(5,095,942)
(5,093,258)
(4,677,461)
(3,006,202)
12,830,384
(5,042,479)
Amount attributable to noncontrolling
interes
t
—
—
(2,136) 1,655
—
(481)
Net income (loss) attributable to the
Company
$ (5,095,942)
$(5,093,258)
$(4,675,325)
$(3,007,857)
$12,830,384
$(5,041,998)