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CLEAR CHANNEL CAPITAL I, LLC AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
Year Ended December 31, 2010
(In thousands)
Parent
Subsidiar
y
Guarantor
Non-Guaranto
r
Com
p
an
y
Issuer
Subsidiaries
Subsidiaries
Eliminations
Consolidated
Cash flows from
operating activities:
Consolidated net income
(loss)
$(462,563)
$(454,779)
$ 321,784
$ 43,435
$ 89,270
$ (462,853)
Reconciling items:
Im
p
airment char
g
es
—
—
3,871
11,493
—
15,364
Depreciation and
amortization
—
—
317,761
415,108
—
732,869
Deferred taxes
(1,445)
(250,630)
56,272
(15,377)
—
(211,180)
Provision for doubtful
accounts
—
—
14,312
8,806
—
23,118
Amortization of
deferred financing
charges and note
discounts, net
—
251,590
(3,908)
(109,547)
76,815
214,950
Share-based
com
p
ensation
—
—
22,200
12,046
—
34,246
(Gain) loss on sale of
o
p
eratin
g
assets
—
—
(7,043)
23,753
—
16,710
Loss on securities
—
—
—
6,490
—
6,490
Equity in (earnings) loss
of nonconsolidated
affiliates
454,779
(428,976)
80,040
(5,749)
(105,796)
(5,702)
Gain on debt
extin
g
uishment
—
—
—
—
(60,289)
(60,289)
Other reconciling items
- net
—
—
(149)
26,239
—
26,090
Changes in operating assets
and liabilities:
Increase in accounts
receivable
—
—
(73,082)
(46,778)
—
(119,860)
(Increase) decrease in
Federal income taxes
receivable
4,187
382,024
(304,098)
50,196
—
132,309
Increase (decrease) in
accounts payable and
other liabilities
—
—
(11,740)
4,816
—
(6,924)
Increase in accrued
ex
p
enses
—
—
71,525
45,907
—
117,432
Increase (decrease) in
accrued interest
—
131,055
—
243
(44,245)
87,053
Increase (decrease) in
deferred income
—
—
8,024
(7,228)
—
796
Changes in other
operating assets and
liabilities, net of
effects of acquisitions
and dis
p
ositions
(547)
(79,835)
34,229
43,662
44,245
41,754
Net cash provided by (used
for) o
p
eratin
g
activities
(5,589)
(449,551)
529,998
507,515
—
582,373
Cash flows from investing
activities:
Investment in Clear
Channel notes
—
—
(125,000)
—
125,000
—