iHeartMedia 2009 Annual Report Download - page 151
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146
Post-mer
g
er Year Ended December 31, 2009
(In thousands)
Parent
Company
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
Cash flows from o
p
eratin
g
activities:
Consolidated net income (loss)
$ (4,377,056) $ (4,367,740) $ (3,783,590) $ (874,330) $ 9,353,680 $ (4,049,036)
Reconcilin
g
items:
Depreciation and amortization
— — 324,204 441,270 — 765,474
Impairment charges
— — 3,223,941 894,983 — 4,118,924
Deferred taxes
1,008 216,303 (489,556) (144,946)
—
(417,191)
Provision for doubtful accounts
— — 34,815 17,683 — 52,498
Amortization of deferred financing charges, bond premiums, and
accretion of note discounts
— 249,295 — (45,452) 25,621 229,464
Share-based compensation
— — 27,682 12,104 — 39,786
(Gain) loss on sale of operating assets
— — 42,606 8,231 — 50,837
(Gain) loss on 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
(Gain) loss on debt extinguishment
— (411,267) — 66,824 (368,591) (713,034)
(Gain) loss on other investments and assets
— — 7,903 1,692 — 9,595
Other reconciling items - net
— — 735 35,836 — 36,571
Chan
g
es in o
p
eratin
g
assets and liabilities:
Changes in other operating assets and liabilities, net of effects of
ac
q
uisitions and dis
p
ositions
(2,975) (183,408) 200,442 27,113 (17,945) 23,227
Net cash provided by (used in) operating activities
(11,283) (725,992) 461,667 474,728 (17,945) 181,175
Cash flows from investin
g
activities:
Decrease (increase) in notes receivable – net
— 2,500,000 452 371 (2,500,000) 823
Decrease (increase) in investments in and advances to nonconsolidated
affiliates – net
— — — (3,811) — (3,811)
Purchase of other investments
— — — (3,372) — (3,372)
Investment in subsidiaries
— (318,898) — — 318,898 —
Investment in Clear Channel notes
— — — (361,411) 361,411 —
Proceeds from maturit
y
of Clear Channel notes
—
—
—
33,500 (33,500)
—
Proceeds from sales of other investments
— — 810 40,817 — 41,627
Purchases of property, plant and equipment
— — (47,377) (176,415) — (223,792)
Proceeds from disposal of assets
— — 30,674 18,144 — 48,818
Acquisition of operating assets
— — (3,367) (4,933) — (8,300)
Decrease (increase) in other – net
— (2,914) 3,124 6,048 — 6,258
Net cash provided by (used in) investing activities
— 2,178,188 (15,684) (451,062) (1,853,191) (141,749)