iHeartMedia 2010 Annual Report Download - page 124
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CLEAR CHANNEL CAPITAL I, LLC AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
115
Pre-mer
g
er
Period from Januar
y
1 throu
g
h Jul
y
30, 2008
(In thousands)
Parent
Com
p
an
y
Subsidiary
Issuer
Guarantor
Subsidiaries
Non-Guaranto
r
Subsidiaries
Eliminations
Consolidated
Revenue
$
—
$
—
$1,978,039
$1,978,264
$(4,561)
$3,951,742
O
p
eratin
g
ex
p
enses:
Direct o
p
eratin
g
ex
p
enses
—
—
579,094
1,127,005
—
1,706,099
Selling, general and
administrative ex
p
enses
—
—
675,333 351,687 (4,561)
1,022,459
Cor
p
orate ex
p
enses
—
275
86,03
0
39,364
—
125,669
De
p
reciation and amortization
—
—
100,675
248,114
—
348,789
Mer
g
er ex
p
enses
—
87,684
—
—
—
87,684
Other o
p
eratin
g
income
–
net
—
—
3,849
10,978
—
14,827
O
p
eratin
g
income (loss)
—
(87,959)
540,756
223,072
—
675,869
Interest (income) ex
p
ense, net
—
(132,888)
257,445
88,653
—
213,21
0
Gain on marketable securities
—
—
34,262
—
—
34,262
Equity in earnings (loss) of
nonconsolidated affiliates
—
744,920
185,444
94,215
(930,364)
94,215
Other income (ex
p
ense)
–
net
—
(28)
(17,576)
12,492
—
(5,112)
Income before income taxes and
discontinued o
p
erations
—
789,821
485,441
241,126
(930,364)
586,024
Income tax benefit (ex
p
ense)
—
246,704
(358,541)
(60,746)
—
(172,583)
Income (loss) before discontinued
o
p
erations
—
1,036,525
126,900
180,380
(930,364)
413,441
Income (loss) from discontinued
o
p
erations, net
—
—
637,120 3,116
—
640,236
Consolidated net income (loss)
—
1,036,525
764,020
183,496
(930,364)
1,053,677
Less amount attributable to
noncontrollin
g
interest
—
—
19,10
0
(1,948)
—
17,152
Net income (loss) attributable to
the Com
p
an
y
$
—
$1,036,525
$ 744,920
$ 185,444
$ (930,364)
$ 1,036,525
Other comprehensive income
(loss), net of tax:
Foreign currency translation
ad
j
ustments
—
—
(38,046) 84,725
—
46,679
Unrealized gain (loss) on
securities and derivatives:
Unrealized holding gain
(loss) on marketable
securities
—
—
(24,964)
(27,496)
—
(52,46
0
)
Unrealized holding gain
(loss) on cash flow
derivatives
—
(44,337)
44,337
—
—
—
Reclassification ad
j
ustment
—
—
(32,379) 2,588
(29,791)
Equity in subsidiary
comprehensive income
(loss)
—
(10,445)
45,797
—
(35,352)
—
Com
p
rehensive income (loss)
981,743
739,665
245,261
(965,716)
1,000,953
Less amount attributable to
noncontrollin
g
interest
—
—
5,191
14,019
—
19,21
0
Comprehensive income (loss)
attributable to the Com
p
an
y
$
—
$ 981,743
$ 734,474
$ 231,242
$ (965,716)
$ 981,743