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CLEAR CHANNEL CAPITAL I, LLC AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
114
Post-mer
g
er
Period from Jul
y
31 throu
g
h December 31, 2008
(In thousands)
Parent
Com
p
an
y
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guaranto
r
Subsidiaries
Eliminations
Consolidated
Revenue
$
—
$
—
$1,403,44
0
$1,338,014
$(4,513)
$2,736,941
O
p
eratin
g
ex
p
enses:
Direct o
p
eratin
g
ex
p
enses
—
—
438,698
760,175
(528)
1,198,345
Selling, general and administrative
ex
p
enses
—
—
536,44
0
274,332
(3,985)
806,787
Cor
p
orate ex
p
enses
4,236
391
65,968
31,681
—
102,276
De
p
reciation and amortization
—
—
122,807
225,234
—
348,041
Mer
g
er ex
p
enses
—
68,085
—
—
—
68,085
Im
p
airment char
g
es
—
—
2,051,209
3,217,649
—
5,268,858
Other o
p
eratin
g
income
–
net
—
—
8,335
4,870
—
13,205
O
p
eratin
g
loss
(4,236)
(68,476)
(1,803,347)
(3,166,187)
—
(5,042,246)
Interest (income) ex
p
ense, net
9
635,731
7,756
72,767
(495)
715,768
Loss on marketable securities
—
—
(56,71
0
)
(59,842)
—
(116,552)
Equity in earnings (loss) of
nonconsolidated affiliates
(5,093,258)
(4,675,297)
(3,007,885)
5,804
12,776,44
0
5,804
Other income (ex
p
ense)
–
net
(2)
52,243 3,496 22,319
53,449
131,505
Income before income taxes and
discontinued o
p
erations
(5,097,505)
(5,327,261)
(4,872,202)
(3,270,673)
12,830,384
(5,737,257)
Income tax benefit (ex
p
ense)
1,563
234,003 196,586 264,471
—
696,623
Income (loss) before discontinued
o
p
erations
(5,095,942)
(5,093,258)
(4,675,616)
(3,006,202)
12,830,384
(5,040,634)
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)
Less amount attributable to
noncontrollin
g
interest
—
—
(2,136) 1,655
—
(481)
Net income (loss) attributable to the
Com
p
an
y
$(5,095,942)
$(5,093,258) $(4,675,325) $(3,007,857)
$12,830,384
$(5,041,998)
Other comprehensive income (loss),
net of tax:
Foreign currency translation
ad
j
ustments
—
—
(4,643) (378,117)
—
(382,760)
Unrealized loss on securities and
derivatives:
Unrealized holding loss on
marketable securities
—
—
(35,844)
(59,825)
—
(95,669)
Unrealized holding loss on cash
flow derivatives
—
(29,101)
(45,978)
—
—
(75,079)
Reclassification ad
j
ustment
—
—
42,924
59,842
—
102,766
Equity in subsidiary
comprehensive income
(loss)
(401,529)
(372,428)
(320,606)
—
1,094,563
—
Com
p
rehensive income (loss)
(5,497,471)
(5,494,787) (5,039,472) (3,385,957)
13,924,947
(5,492,740)
Less amount attributable to
noncontrollin
g
interest
—
—
(37,696)
(11,516)
—
(49,212)
Comprehensive income (loss)
attributable to the Com
p
an
y
$(5,497,471)
$(5,494,787)
$(5,001,776)
$(3,374,441)
$13,924,947
$(5,443,528)