iHeartMedia Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
IHRT$0.62-65.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Comprehensive Loss
| (In thousands, except per share data) | Three Months Ended March 31, | |
|---|---|---|
| 2024 | 2023 | |
| Revenue | $799,038 | $811,239 |
| Operating expenses: | ||
| Direct operating expenses (excludes depreciation and amortization) | 341,360 | 344,620 |
| Selling, general and administrative expenses (excludes depreciation and amortization) | 385,144 | 402,801 |
| Depreciation and amortization | 105,162 | 108,512 |
| Impairment charges | 1,508 | 3,947 |
| Other operating expense, net | 572 | 221 |
| Operating loss | (34,708) | (48,862) |
| Interest expense, net | 95,515 | 95,457 |
| Gain (loss) on investments, net | 91,994 | (6,505) |
| Equity in earnings (loss) of nonconsolidated affiliates | (45) | 40 |
| Gain on extinguishment of debt | — | 4,625 |
| Other expense, net | (496) | (99) |
| Loss before income taxes | (38,770) | (146,258) |
| Income tax benefit (expense) | 20,662 | (76,105) |
| Net loss | (18,108) | (222,363) |
| Less amount attributable to noncontrolling interest | 400 | (103) |
| Net loss attributable to the Company | $(18,508) | $(222,260) |
| Other comprehensive loss, net of tax: | ||
| Foreign currency translation adjustments | (219) | (46) |
| Other comprehensive loss, net of tax | (219) | (46) |
| Comprehensive loss | (18,727) | (222,306) |
| Less amount attributable to noncontrolling interest | — | — |
| Comprehensive loss attributable to the Company | $(18,727) | $(222,306) |
| Net loss attributable to the Company per common share: | ||
| Basic | $(0.12) | $(1.50) |
| Weighted average common shares outstanding - Basic | 149,795 | 148,365 |
| Diluted | $(0.12) | $(1.50) |
| Weighted average common shares outstanding - Diluted | 149,795 | 148,365 |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIT)
| (In thousands, except share data) | Controlling Interest | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Shares(1) · Non-controllingInterest · CommonStock · AdditionalPaid-inCapital · Accumulated Deficit · AccumulatedOtherComprehensive Loss · TreasuryStock | ||||||||||||||||||||||||
| Class A Shares · Class BShares · Special Warrants · Total | ||||||||||||||||||||||||
| Balances atDecember 31, 2023 | 124,299,288 | 21,347,363 | 5,101,870 | $9,397 | $146 | $2,947,096 | $(3,330,142) | $(1,128) | $(10,127) | $(384,758) | ||||||||||||||
| Net income (loss) | 400 | — | — | (18,508) | — | — | (18,108) | |||||||||||||||||
| Vesting of restricted stock and other | 57,653 | — | — | — | — | — | (39) | (39) | ||||||||||||||||
| Share-based compensation | — | — | 7,947 | — | — | — | 7,947 | |||||||||||||||||
| Dividends declared and paid to noncontrolling interests | (3,397) | — | — | — | — | — | (3,397) | |||||||||||||||||
| Conversion of Special Warrants to Class A and Class B Shares | 58,534 | — | (58,534) | — | — | — | — | — | — | — | ||||||||||||||
| Conversion of Class B Shares to Class A Shares | 750 | (750) | — | — | — | — | — | — | — | |||||||||||||||
| Other comprehensive loss | — | — | — | — | (219) | — | (219) | |||||||||||||||||
| Balances atMarch 31, 2024 | 124,416,225 | 21,346,613 | 5,043,336 | $6,400 | $146 | $2,955,043 | $(3,348,650) | $(1,347) | $(10,166) | $(398,574) | ||||||||||||||
| (In thousands, except share data) | Controlling Interest | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Shares(1) · Non-controllingInterest · CommonStock · AdditionalPaid-inCapital · Accumulated Deficit · AccumulatedOtherComprehensive Loss · TreasuryStock | ||||||||||||||||||||||||
| Class A Shares · Class BShares · Special Warrants · Total | ||||||||||||||||||||||||
| Balances atDecember 31, 2022 | 122,370,425 | 21,477,181 | 5,111,312 | $9,609 | $144 | $2,912,500 | $(2,227,482) | $(1,331) | $(8,934) | $684,506 | ||||||||||||||
| Net loss | (103) | — | — | (222,260) | — | — | (222,363) | |||||||||||||||||
| Vesting of restricted stock and other | 7,513 | — | — | — | — | — | (24) | (24) | ||||||||||||||||
| Share-based compensation | — | — | 10,152 | — | — | — | 10,152 | |||||||||||||||||
| Dividends declared and paid to noncontrolling interests | (321) | — | — | — | — | — | (321) | |||||||||||||||||
| Conversion of Class B Shares to Class A Shares | 7,262 | (7,262) | — | — | — | — | — | — | — | |||||||||||||||
| Other comprehensive loss | — | — | — | — | (46) | — | (46) | |||||||||||||||||
| Balances atMarch 31, 2023 | 122,385,200 | 21,469,919 | 5,111,312 | $9,185 | $144 | $2,922,652 | $(2,449,742) | $(1,377) | $(8,958) | $471,904 | ||||||||||||||
(1)The Company's Preferred Stock is not presented in the data above as there were no shares issued and outstanding in 2024, 2023 or 2022.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.