iHeartMedia 2012 Annual Report Download - page 130

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127
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE
Intentionally omitted in accordance with General Instruction I(2)(c) of Form 10-K.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Fees are incurred by CCMH for both the CCMH and Clear Channel audit services and are not allocated between the two
companies. The following fees for services provided by Ernst & Young LLP were incurred by CCMH with respect to the years ended
December 31, 2012 and 2011:
Year Ended December 31,
(In thousands)
2012
2011
Audit fees (a)…………………………………………………...
$5,448
$5,038
Audit-related fees (b)…………………………………………...
9
2
Tax fees (c)……………………………………………………..
929
572
All other fees (d)………………………………………………..
44
461
Total fees for services…………………………………..
$6,430
$6,073
(a) Audit fees include professional services rendered for the audit of annual financial statements and reviews of quarterly financial
statements. This category also includes fees for statutory audits required internationally, services associated with documents
filed with the SEC and in connection with securities offerings and private placements, work performed by tax professionals in
connection with the audit or quarterly reviews, and accounting consultation and research work necessary to comply with
financial reporting and accounting standards.
(b) Audit-related fees include assurance and related services not reported under annual audit fees that reasonably relate to the
performance of the audit or review of our financial statements and are not reported under Audit Fees, including attest and
agreed-upon procedures services not required by statute or regulations, information systems reviews, due diligence related to
mergers and acquisitions and employee benefit plan audits required internationally.
(c) Tax fees include professional services rendered for tax compliance and tax planning advice provided domestically and
internationally, except those provided in connection with the audit or quarterly reviews. Of the $929,056 in tax fees with
respect to 2012 and the $572,257 in tax fees with respect to 2011, $153,672 and $195,308, respectively, was related to tax
compliance services.
(d) All other fees include fees for products and services other than those in the above three categories. This category includes
permitted corporate finance services and certain advisory services.
The Audit Committees of CCMH and Clear Channel have jointly considered whether Ernst & Young LLP’s provision of non-audit
services is compatible with maintaining Ernst & Young LLP’s independence.
The Audit Committees jointly pre-approve all audit and permitted non-audit services (including the fees and terms thereof) to be
performed by the independent auditor. The chairperson of the Audit Committees may represent the Audit Committees jointly for the
purposes of pre-approving permissible non-audit services, provided that the decision to pre-approve any service is disclosed to the
Audit Committees no later than their next scheduled meetings.