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GUARANTOR SUBSIDIARIES
 9 Months Ended
Sep. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
GUARANTOR SUBSIDIARIES
GUARANTOR SUBSIDIARIES
The Company and the Guarantor Subsidiaries fully and unconditionally guaranteed on a joint and several basis certain of iHeartCommunications’ outstanding indebtedness. The following consolidating schedules present financial information on a combined basis in conformity with the SEC’s Regulation S-X Rule 3-10(d):
(In thousands)
 
 
 
 
 
September 30, 2017
 
 
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Cash and cash equivalents
 
$
—

 
$
1

 
$
55,093

 
$
231,276

 
$
—

 
$
286,370

Accounts receivable, net of allowance
 
—

 
—

 
797,391

 
635,628

 
—

 
1,433,019

Intercompany receivables (1)
 
—

 
—

 
916,769

 
—

 
(916,769
)
 
—

Prepaid expenses
 
—

 
282

 
97,570

 
132,357

 
—

 
230,209

Other current assets
 
—

 
292

 
149,090

 
258,155

 
(329,661
)
 
77,876

Total Current Assets
 
—

 
575

 
2,015,913

 
1,257,416

 
(1,246,430
)
 
2,027,474

Structures, net
 
—

 
—

 
—

 
1,152,066

 
—

 
1,152,066

Other property, plant and equipment, net
 
—

 
—

 
507,049

 
228,948

 
—

 
735,997

Indefinite-lived intangibles - licenses
 
—

 
—

 
2,399,680

 
8,504

 
—

 
2,408,184

Indefinite-lived intangibles - permits
 
—

 
—

 
—

 
977,152

 
—

 
977,152

Other intangibles, net
 
—

 
—

 
309,178

 
287,109

 
—

 
596,287

Goodwill
 
—

 
—

 
3,366,558

 
717,031

 
—

 
4,083,589

Intercompany notes receivable
 
—

 
962,000

 
—

 
—

 
(962,000
)
 
—

Due from iHeartCommunications
 
—

 
—

 
—

 
1,051,349

 
(1,051,349
)
 
—

Investment in subsidiaries
 
(11,568,324
)
 
5,909,674

 
(1,314,537
)
 
—

 
6,973,187

 
—

Other assets
 
—

 
11,770

 
343,237

 
314,494

 
(392,990
)
 
276,511

Total Assets
 
$
(11,568,324
)
 
$
6,884,019

 
$
7,627,078

 
$
5,994,069

 
$
3,320,418

 
$
12,257,260

 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
—

 
—

 
68,867

 
88,350

 
—

 
157,217

Accrued expenses
 
—

 
(93,975
)
 
296,837

 
530,367

 
(14,771
)
 
718,458

Intercompany payable (1)
 
—

 
748,372

 
80,422

 
87,975

 
(916,769
)
 
—

Accrued interest
 
—

 
161,960

 
(1
)
 
6,953

 
(19,379
)
 
149,533

Deferred income
 
—

 
—

 
121,893

 
93,517

 
—

 
215,410

Current portion of long-term debt
 
—

 
940,428

 
12,247

 
573

 
(334,245
)
 
619,003

Total Current Liabilities
 
—

 
1,756,785

 
580,265

 
807,735

 
(1,285,164
)
 
1,859,621

Long-term debt
 
—

 
15,399,097

 
19,492

 
5,264,290

 
(686,982
)
 
19,995,897

Due to Clear Channel Outdoor
 
—

 
1,051,349

 
—

 
—

 
(1,051,349
)
 
—

Intercompany long-term debt
 
—

 
—

 
962,000

 
—

 
(962,000
)
 
—

Deferred income taxes
 
—

 
224,452

 
609,587

 
605,157

 
21,686

 
1,460,882

Other long-term liabilities
 
—

 
20,687

 
310,946

 
286,942

 
—

 
618,575

Total member's equity (deficit)
 
(11,568,324
)
 
(11,568,351
)
 
5,144,788

 
(970,055
)
 
7,284,227

 
(11,677,715
)
Total Liabilities and Member's Equity (Deficit)
 
(11,568,324
)
 
6,884,019

 
7,627,078

 
5,994,069

 
3,320,418

 
12,257,260

(1)
The intercompany payable balance includes approximately $5.8 billion of designated amounts of borrowing under the senior secured credit facilities by certain Guarantor Subsidiaries that are Co-Borrowers and primary obligors thereunder with respect to these amounts. These amounts were incurred by the Co-Borrowers at the time of the closing of the merger, but were funded and will be repaid through accounts of the Subsidiary Issuer. The intercompany receivables balance includes the amount of such borrowings, which are required to be repaid to the lenders under the senior secured credit facilities by the Guarantor Subsidiaries as Co-Borrowers and primary obligors thereunder.
(In thousands)
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Cash and cash equivalents
 
—

 
3

 
277,210

 
567,817

 
—

 
845,030

Accounts receivable, net of allowance
 
—

 
—

 
768,740

 
595,664

 
—

 
1,364,404

Intercompany receivables (1)
 
—

 
43,104

 
126,617

 
—

 
(169,721
)
 
—

Prepaid expenses
 
—

 
1,978

 
70,269

 
112,339

 
—

 
184,586

Assets held for sale
 
—

 
—

 
—

 
55,602

 
—

 
55,602

Other current assets
 
—

 
1,500

 
40,368

 
58,557

 
(45,360
)
 
55,065

Total Current Assets
 
—

 
46,585

 
1,283,204

 
1,389,979

 
(215,081
)
 
2,504,687

Structures, net
 
—

 
—

 
—

 
1,196,676

 
—

 
1,196,676

Other property, plant and equipment, net
 
—

 
—

 
534,831

 
216,655

 
—

 
751,486

Indefinite-lived intangibles - licenses
 
—

 
—

 
2,413,899

 
—

 
—

 
2,413,899

Indefinite-lived intangibles - permits
 
—

 
—

 
—

 
960,966

 
—

 
960,966

Other intangibles, net
 
—

 
—

 
435,606

 
304,902

 
—

 
740,508

Goodwill
 
—

 
—

 
3,366,558

 
700,017

 
—

 
4,066,575

Intercompany notes receivable
 
—

 
962,000

 
—

 
—

 
(962,000
)
 
—

Due from iHeartCommunications
 
—

 
—

 
—

 
885,701

 
(885,701
)
 
—

Investment in subsidiaries
 
(11,092,696
)
 
5,311,913

 
(975,704
)
 
—

 
6,756,487

 
—

Other assets
 
—

 
10,733

 
285,924

 
509,173

 
(578,380
)
 
227,450

Total Assets
 
(11,092,696
)
 
6,331,231

 
7,344,318

 
6,164,069

 
4,115,325

 
12,862,247

 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
 
—

 
—

 
55,429

 
87,171

 
—

 
142,600

Accrued expenses
 
—

 
(137,084
)
 
367,105

 
494,772

 
—

 
724,793

Intercompany payable (1)
 
—

 
—

 
43,104

 
126,617

 
(169,721
)
 
—

Accrued interest
 
—

 
312,661

 
—

 
541

 
(49,032
)
 
264,170

Deferred income
 
—

 
—

 
130,136

 
69,967

 
—

 
200,103

Current portion of long-term debt
 
—

 
330,000

 
5,937

 
6,971

 
—

 
342,908

Total Current Liabilities
 
—

 
505,577

 
601,711

 
786,039

 
(218,753
)
 
1,674,574

Long-term debt
 
—

 
15,898,073

 
28,205

 
5,110,020

 
(1,014,218
)
 
20,022,080

Long-term intercompany payable
 
—

 
—

 
962,000

 
—

 
(962,000
)
 
—

Due to Clear Channel Outdoor
 
—

 
885,701

 
—

 
—

 
(885,701
)
 
—

Deferred income taxes
 
—

 
114,925

 
684,981

 
637,034

 
20,155

 
1,457,095

Other long-term liabilities
 
—

 
19,650

 
314,959

 
259,364

 
—

 
593,973

Total member's equity (deficit)
 
(11,092,696
)
 
(11,092,695
)
 
4,752,462

 
(628,388
)
 
7,175,842

 
(10,885,475
)
Total Liabilities and Member's Equity (Deficit)
 
(11,092,696
)
 
6,331,231

 
7,344,318

 
6,164,069

 
4,115,325

 
12,862,247

(1)
The intercompany payable balance includes approximately $5.8 billion of designated amounts of borrowing under the senior secured credit facilities by certain Guarantor Subsidiaries that are Co-Borrowers and primary obligors thereunder with respect to these amounts.  These amounts were incurred by the Co-Borrowers at the time of the closing of the merger, but were funded and will be repaid through accounts of the Subsidiary Issuer.  The intercompany receivables balance includes the amount of such borrowings, which are required to be repaid to the lenders under the senior secured credit facilities by the Guarantor Subsidiaries as Co-Borrowers and primary obligors thereunder.
(In thousands)
 
 
 
Three Months Ended September 30, 2017
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Revenue
 
—

 
—

 
882,575

 
660,295

 
(5,454
)
 
1,537,416

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Direct operating expenses
 
—

 
—

 
264,458

 
359,012

 
(1,575
)
 
621,895

Selling, general and administrative expenses
 
—

 
—

 
303,705

 
137,889

 
(2,940
)
 
438,654

Corporate expenses
 
—

 
2,847

 
40,726

 
35,333

 
(939
)
 
77,967

Depreciation and amortization
 
—

 
—

 
68,386

 
81,363

 
—

 
149,749

Impairment charges
 
—

 
—

 
6,040

 
1,591

 
—

 
7,631

Other operating expense, net
 
—

 
—

 
(1,432
)
 
(11,783
)
 
—

 
(13,215
)
Operating income (loss)
 
—

 
(2,847
)
 
197,828

 
33,324

 
—

 
228,305

Interest (income) expense, net
 
—

 
394,373

 
(9,498
)
 
50,523

 
34,852

 
470,250

Loss on investments, net
 
—

 
—

 
—

 
(18,545
)
 
16,372

 
(2,173
)
Equity in earnings (loss) of nonconsolidated affiliates
 
(214,927
)
 
124,594

 
(58,083
)
 
(2,187
)
 
148,365

 
(2,238
)
Other income (expense), net
 
—

 
(7,198
)
 
14,593

 
9,598

 
(14,770
)
 
2,223

Income (loss) before income taxes
 
(214,927
)
 
(279,824
)
 
163,836

 
(28,333
)
 
115,115

 
(244,133
)
Income tax benefit (expense)
 
—

 
64,897

 
(43,486
)
 
(23,462
)
 
—

 
(2,051
)
Consolidated net income (loss)
 
(214,927
)
 
(214,927
)
 
120,350

 
(51,795
)
 
115,115

 
(246,184
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
(4,244
)
 
6,237

 
—

 
1,993

Net income (loss) attributable to the Company
 
(214,927
)
 
(214,927
)
 
124,594

 
(58,032
)
 
115,115

 
(248,177
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
—

 
—

 
6

 
13,004

 
—

 
13,010

Unrealized holding loss on marketable securities
 
—

 
—

 
—

 
(1,674
)
 
1,354

 
(320
)
Reclassification adjustments

 
—

 
—

 
—

 
6,207

 
—

 
6,207

Equity in subsidiary comprehensive income
 
13,254

 
13,254

 
14,871

 
—

 
(41,379
)
 
—

Comprehensive income (loss)
 
(201,673
)
 
(201,673
)
 
139,471

 
(40,495
)
 
75,090

 
(229,280
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
1,623

 
2,666

 
—

 
4,289

Comprehensive income (loss) attributable to the Company
 
(201,673
)
 
(201,673
)
 
137,848

 
(43,161
)
 
75,090

 
(233,569
)
(In thousands)
 
 
 
Three Months Ended September 30, 2016
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Revenue
 
—

 
—

 
895,561

 
675,734

 
(4,713
)
 
1,566,582

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Direct operating expenses
 
—

 
—

 
228,475

 
364,776

 
(1,511
)
 
591,740

Selling, general and administrative expenses
 
—

 
—

 
294,970

 
129,322

 
(2,592
)
 
421,700

Corporate expenses
 
—

 
2,797

 
56,542

 
28,103

 
(610
)
 
86,832

Depreciation and amortization
 
—

 
—

 
72,412

 
86,041

 
—

 
158,453

Impairment charges
 
—

 
—

 
726

 
7,274

 
—

 
8,000

Other operating income (expense), net
 
—

 
—

 
(1,601
)
 
1,096

 
—

 
(505
)
Operating income (loss)
 
—

 
(2,797
)
 
240,835

 
61,314

 
—

 
299,352

Interest (income) expense, net
 
—

 
386,416

 
(10,403
)
 
56,641

 
27,198

 
459,852

Gain (loss) on investments, net
 
—

 
—

 
(14,548
)
 
781

 
—

 
(13,767
)
Equity in earnings (loss) of nonconsolidated affiliates
 
(168,651
)
 
30,201

 
(14,249
)
 
(727
)
 
154,543

 
1,117

Gain (loss) on extinguishment of debt
 
—

 
(3,207
)
 
(85
)
 
—

 
160,848

 
157,556

Other income (expense), net
 
—

 
—

 
141

 
(7,464
)
 
—

 
(7,323
)
Income (loss) before income taxes
 
(168,651
)
 
(362,219
)
 
222,497

 
(2,737
)
 
288,193

 
(22,917
)
Income tax benefit (expense)
 
—

 
193,568

 
(193,154
)
 
(6,027
)
 
—

 
(5,613
)
Consolidated net income (loss)
 
(168,651
)
 
(168,651
)
 
29,343

 
(8,764
)
 
288,193

 
(28,530
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
(858
)
 
7,329

 
—

 
6,471

Net income (loss) attributable to the Company
 
(168,651
)
 
(168,651
)
 
30,201

 
(16,093
)
 
288,193

 
(35,001
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
—

 
—

 
(2
)
 
7,358

 
—

 
7,356

Unrealized holding loss on marketable securities
 
—

 
—

 
—

 
(2,837
)
 
2,547

 
(290
)
Equity in subsidiary comprehensive income
 
3,477

 
3,477

 
4,139

 
—

 
(11,093
)
 
—

Other adjustments to comprehensive income (loss)
 
—

 
—

 
—

 
193

 
—

 
193

Comprehensive income (loss)
 
(165,174
)
 
(165,174
)
 
34,338

 
(11,379
)
 
279,647

 
(27,742
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
660

 
575

 
—

 
1,235

Comprehensive income (loss) attributable to the Company
 
(165,174
)
 
(165,174
)
 
33,678

 
(11,954
)
 
279,647

 
(28,977
)
(In thousands)
 
 
 
Nine Months Ended September 30, 2017
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Revenue
 
—

 
—

 
2,569,727

 
1,903,943

 
(16,564
)
 
4,457,106

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Direct operating expenses
 
—

 
—

 
769,613

 
1,042,473

 
(4,552
)
 
1,807,534

Selling, general and administrative expenses
 
—

 
—

 
951,825

 
394,000

 
(9,262
)
 
1,336,563

Corporate expenses
 
—

 
8,277

 
122,747

 
105,213

 
(2,750
)
 
233,487

Depreciation and amortization
 
—

 
—

 
205,983

 
237,667

 
—

 
443,650

Impairment charges
 
—

 
—

 
6,040

 
1,591

 
—

 
7,631

Other operating income (expense), net
 
—

 
—

 
(3,870
)
 
28,655

 
—

 
24,785

Operating income (loss)
 
—

 
(8,277
)
 
509,649

 
151,654

 
—

 
653,026

Interest (income) expense, net
 
—

 
1,171,989

 
(29,228
)
 
154,532

 
91,454

 
1,388,747

Gain (loss) on investments, net
 
—

 
—

 
12,946

 
4,192

 
(19,571
)
 
(2,433
)
Equity in earnings (loss) of nonconsolidated affiliates
 
(512,534
)
 
560,560

 
(71,832
)
 
(2,110
)
 
23,676

 
(2,240
)
Other income (expense), net
 
—

 
(33,193
)
 
186,459

 
22,360

 
(186,870
)
 
(11,244
)
Income (loss) before income taxes
 
(512,534
)
 
(652,899
)
 
666,450

 
21,564

 
(274,219
)
 
(751,638
)
Income tax benefit (expense)
 
—

 
140,365

 
(108,115
)
 
(82,393
)
 
—

 
(50,143
)
Consolidated net income (loss)
 
(512,534
)
 
(512,534
)
 
558,335

 
(60,829
)
 
(274,219
)
 
(801,781
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
(2,225
)
 
10,873

 
—

 
8,648

Net income (loss) attributable to the Company
 
(512,534
)
 
(512,534
)
 
560,560

 
(71,702
)
 
(274,219
)
 
(810,429
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
—

 
—

 
13

 
44,652

 
—

 
44,665

Unrealized holding loss on marketable securities
 
—

 
—

 
—

 
(2,928
)
 
2,710

 
(218
)
Reclassification adjustments
 
—

 
—

 
—

 
4,563

 
—

 
4,563

Equity in subsidiary comprehensive income
 
35,958

 
35,958

 
40,292

 
—

 
(112,208
)
 
—

Comprehensive income (loss)
 
(476,576
)
 
(476,576
)
 
600,865

 
(25,415
)
 
(383,717
)
 
(761,419
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
4,347

 
5,995

 
—

 
10,342

Comprehensive income (loss) attributable to the Company
 
(476,576
)
 
(476,576
)
 
596,518

 
(31,410
)
 
(383,717
)
 
(771,761
)
(In thousands)
 
 
 
Nine Months Ended September 30, 2016
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Revenue
 
—

 
—

 
2,569,179

 
1,986,002

 
(12,329
)
 
4,542,852

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
Direct operating expenses
 
—

 
—

 
701,955

 
1,073,983

 
(4,348
)
 
1,771,590

Selling, general and administrative expenses
 
—

 
—

 
891,028

 
398,192

 
(7,371
)
 
1,281,849

Corporate expenses
 
—

 
8,220

 
158,738

 
86,000

 
(610
)
 
252,348

Depreciation and amortization
 
—

 
—

 
217,084

 
258,969

 
—

 
476,053

Impairment charges
 
—

 
—

 
726

 
7,274

 
—

 
8,000

Other operating income (expense), net
 
—

 
—

 
(6,405
)
 
226,173

 
—

 
219,768

Operating income (loss)
 
—

 
(8,220
)
 
593,243

 
387,757

 
—

 
972,780

Interest expense, net
 
—

 
1,153,255

 
(27,534
)
 
219,861

 
44,211

 
1,389,793

Loss on investments, net
 
—

 
—

 
(14,548
)
 
(332,624
)
 
333,405

 
(13,767
)
Equity in earnings (loss) of nonconsolidated affiliates
 
(531,294
)
 
292,057

 
(211,548
)
 
(1,374
)
 
451,233

 
(926
)
Gain (loss) on extinguishment of debt
 
—

 
(3,207
)
 
(85
)
 
—

 
160,848

 
157,556

Other income (expense), net
 
—

 
10

 
321,412

 
(47,331
)
 
(321,145
)
 
(47,054
)
Income (loss) before income taxes
 
(531,294
)
 
(872,615
)
 
716,008

 
(213,433
)
 
580,130

 
(321,204
)
Income tax benefit (expense)
 
—

 
341,321

 
(401,163
)
 
17,599

 
—

 
(42,243
)
Consolidated net income (loss)
 
(531,294
)
 
(531,294
)
 
314,845

 
(195,834
)
 
580,130

 
(363,447
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
22,788

 
16,162

 
—

 
38,950

Net income (loss) attributable to the Company
 
(531,294
)
 
(531,294
)
 
292,057

 
(211,996
)
 
580,130

 
(402,397
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments
 
—

 
—

 
5

 
43,792

 
—

 
43,797

Unrealized holding gain (loss) on marketable securities
 
—

 
—

 
—

 
1,018

 
(1,653
)
 
(635
)
Reclassification adjustments
 
—

 
—

 
—

 
32,823

 
—

 
32,823

Other adjustments to comprehensive income (loss)
 
—

 
—

 
—

 
(3,551
)
 
—

 
(3,551
)
Equity in subsidiary comprehensive income
 
67,722

 
67,722

 
75,066

 
—

 
(210,510
)
 
—

Comprehensive income (loss)
 
(463,572
)
 
(463,572
)
 
367,128

 
(137,914
)
 
367,967

 
(329,963
)
Less amount attributable to noncontrolling interest
 
—

 
—

 
7,349

 
(984
)
 
—

 
6,365

Comprehensive income (loss) attributable to the Company
 
(463,572
)
 
(463,572
)
 
359,779

 
(136,930
)
 
367,967

 
(336,328
)
(In thousands)
 
 
 
Nine Months Ended September 30, 2017
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated net income (loss)
 
$
(512,534
)
 
$
(512,534
)
 
$
558,335

 
$
(60,829
)
 
$
(274,219
)
 
$
(801,781
)
Reconciling items:
 
 
 
 
 
 
 
 
 
 
 
 
Impairment charges
 
—

 
—

 
6,040

 
1,591

 
—

 
7,631

Depreciation and amortization
 
—

 
—

 
205,983

 
237,667

 
—

 
443,650

Deferred taxes
 
—

 
109,527

 
(75,393
)
 
(21,629
)
 
—

 
12,505

Provision for doubtful accounts
 
—

 
—

 
14,554

 
6,382

 
—

 
20,936

Amortization of deferred financing charges and note discounts, net
 
—

 
32,841

 
(37,278
)
 
(44,335
)
 
91,454

 
42,682

Share-based compensation
 
—

 
—

 
1,867

 
7,153

 
—

 
9,020

(Gain) loss on disposal of operating assets
 
—

 
—

 
145

 
(30,294
)
 
—

 
(30,149
)
(Gain) loss on investments, net
 
—

 
—

 
(12,946
)
 
(4,192
)
 
19,571

 
2,433

Equity in (earnings) loss of nonconsolidated affiliates
 
512,534

 
(560,560
)
 
71,832

 
2,110

 
(23,676
)
 
2,240

Barter and trade income
 
—

 
—

 
(27,206
)
 
(5,747
)
 
—

 
(32,953
)
Foreign exchange transaction (gain) loss
 
—

 
—

 
470

 
(22,072
)
 
—

 
(21,602
)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
 
 
 
 
 
 
 
 
 
 
 
 
Increase in accounts receivable
 
—

 
—

 
(43,205
)
 
(17,779
)
 
—

 
(60,984
)
(Increase) decrease in prepaids and other current assets
 
—

 
2,904

 
(28,724
)
 
(9,460
)
 
(6,026
)
 
(41,306
)
Increase (decrease) in accrued expenses
 
—

 
43,109

 
(70,198
)
 
(10,730
)
 
—

 
(37,819
)
Increase (decrease) in accounts payable
 
—

 
—

 
13,438

 
(4,019
)
 
—

 
9,419

Increase (decrease) in accrued interest
 
—

 
(107,090
)
 
2,175

 
6,031

 
20,797

 
(78,087
)
Increase (decrease) in deferred income
 
—

 
—

 
(14,491
)
 
18,338

 
—

 
3,847

Changes in other operating assets and liabilities
 
—

 
—

 
(11,914
)
 
3,515

 
—

 
(8,399
)
Net cash provided by (used for) operating activities
 
—

 
(991,803
)
 
553,484

 
51,701

 
(172,099
)
 
(558,717
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Purchases of other investments
 
—

 
—

 
(5,336
)
 
(24,162
)
 
—

 
(29,498
)
Proceeds from sale of other investments
 
—


—

 
—

 
5,059

 
—

 
5,059

Purchases of property, plant and equipment
 
—

 
—

 
(49,833
)
 
(135,111
)
 
—

 
(184,944
)
Proceeds from disposal of assets
 
—

 
—

 
286

 
71,034

 
—

 
71,320

Purchases of other operating assets
 
—

 
—

 
(240
)
 
(2,984
)
 
—

 
(3,224
)
Dividends from subsidiaries
 
323

 
—

 
—

 
—

 
(323
)
 
—

Change in other, net
 
—

 
—

 
(7
)
 
(3,686
)
 
—

 
(3,693
)
Net cash provided by (used for) investing activities
 
323

 
—

 
(55,130
)
 
(89,850
)
 
(323
)
 
(144,980
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Draws on credit facilities
 
—

 
60,000

 
—

 
—

 
—

 
60,000

Payments on credit facilities
 
—

 
(25,000
)
 
—

 
(909
)
 
—

 
(25,909
)
Intercompany funding
 
—

 
957,124

 
(715,690
)
 
(241,434
)
 
—

 
—

Proceeds from long-term debt
 
—

 
—

 
—

 
156,000

 
—

 
156,000

Payments on long-term debt
 
—

 
—

 
(4,781
)
 
(604
)
 
—

 
(5,385
)
Payments to repurchase noncontrolling interests
 
—

 
—

 
—

 
(953
)
 
—

 
(953
)
Dividends and other payments to noncontrolling interests
 
—

 
(323
)
 
—

 
(213,182
)
 
172,422

 
(41,083
)
Change in other, net
 
(323
)
 
—

 
—

 
(5,281
)
 
—

 
(5,604
)
Net cash provided by (used for) financing activities
 
(323
)
 
991,801

 
(720,471
)
 
(306,363
)
 
172,422

 
137,066

Effect of exchange rate changes on cash
 
—

 
—

 
—

 
7,971

 
—

 
7,971

Net decrease in cash and cash equivalents
 
—

 
(2
)
 
(222,117
)
 
(336,541
)
 
—

 
(558,660
)
Cash and cash equivalents at beginning of period
 
—

 
3

 
277,210

 
567,817

 
—

 
845,030

Cash and cash equivalents at end of period
 
$
—

 
$
1

 
$
55,093

 
$
231,276

 
$
—

 
$
286,370

(In thousands)
 
 
 
Nine Months Ended September 30, 2016
 
 
 
 
Parent Company
 
Subsidiary Issuer
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Consolidated
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
 
Consolidated net income (loss)
 
$
(531,294
)
 
$
(531,294
)
 
$
314,845

 
$
(195,834
)
 
$
580,130

 
$
(363,447
)
Reconciling items:
 
 
 
 
 
 
 
 
 
 
 
 
Impairment charges
 
—

 
—

 
726

 
7,274

 
—

 
8,000

Depreciation and amortization
 
—

 
—

 
217,084

 
258,969

 
—

 
476,053

Deferred taxes
 
—

 
59,920

 
(104,327
)
 
30,310

 
—

 
(14,097
)
Provision for doubtful accounts
 
—

 
—

 
11,483

 
8,559

 
—

 
20,042

Amortization of deferred financing charges and note discounts, net
 
—

 
45,802

 
(29,908
)
 
(8,299
)
 
44,211

 
51,806

Share-based compensation
 
—

 
—

 
2,159

 
8,191

 
—

 
10,350

(Gain) loss on sale of operating and fixed assets
 
—

 
—

 
3,949

 
(231,714
)
 
—

 
(227,765
)
Loss on investments, net
 
—

 
—

 
14,548

 
332,624

 
(333,405
)
 
13,767

Equity in (earnings) loss of nonconsolidated affiliates
 
531,294

 
(292,057
)
 
211,548

 
1,374

 
(451,233
)
 
926

(Gain) loss on extinguishment of debt
 
—

 
3,207

 
85

 
—

 
(160,848
)
 
(157,556
)
Barter and trade income
 
—

 
—

 
(21,876
)
 
(250
)
 
—

 
(22,126
)
Foreign exchange transaction loss
 
—

 
—

 
103

 
46,430

 
—

 
46,533

Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
 
 
 
 
 
 
 
 
 
 
 

(Increase) decrease in accounts receivable
 

 

 
(32,122
)
 
49,031

 
—

 
16,909

(Increase) decrease in prepaids and other current assets
 
—

 
(2,118
)
 
157,890

 
(43,687
)
 
(129,921
)
 
(17,836
)
Increase (decrease) in accrued expenses
 
—

 
19,055

 
(33,501
)
 
(46,069
)
 
—

 
(60,515
)
Decrease in accounts payable
 
—

 
—

 
(12,872
)
 
(26,788
)
 
—

 
(39,660
)
Increase (decrease) in accrued interest
 
—

 
(98,413
)
 
47

 
5,057

 
362

 
(92,947
)
Increase in deferred income
 
—

 
—

 
28,855

 
8,695

 
—

 
37,550

Changes in other operating assets and liabilities
 
—

 
—

 
15,542

 
25,893

 
—

 
41,435

Net cash provided by (used for) operating activities
 
—

 
(795,898
)
 
744,258

 
229,766

 
(450,704
)
 
(272,578
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Purchases of other investments
 
—

 
—

 
(5,000
)
 
(251,035
)
 
222,124

 
(33,911
)
Proceeds from sale of other investments
 
—

 
—

 
2,475

 
781

 
—

 
3,256

Purchases of property, plant and equipment
 
—

 
—

 
(52,941
)
 
(148,097
)
 
—

 
(201,038
)
Proceeds from disposal of assets
 
—

 
—

 
12,309

 
591,735

 
—

 
604,044

Purchases of other operating assets
 
—

 
—

 
(1,775
)
 
(1,689
)
 
—

 
(3,464
)
Dividends from subsidiaries
 
165

 
—

 
96

 
—

 
(261
)
 
—

Change in other, net
 
—

 
—

 
(358
)
 
(2,217
)
 
—

 
(2,575
)
Net cash provided by (used for) investing activities
 
165

 
—

 
(45,194
)
 
189,478

 
221,863

 
366,312

Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
 
Payments on credit facilities
 
—

 
—

 
—

 
(1,728
)
 
—

 
(1,728
)
Intercompany funding
 
—

 
796,061

 
(925,171
)
 
129,110

 
—

 
—

Proceeds from long-term debt
 
—

 
—

 
—

 
800

 
—

 
800

Payments on long-term debt
 
—

 
—

 
(2,540
)
 
(1,976
)
 
(222,124
)
 
(226,640
)
Dividends and other payments from (to) noncontrolling interests
 
—

 
(165
)
 
3

 
(544,174
)
 
450,965

 
(93,371
)
Change in other, net
 
(165
)
 
—

 
—

 
(1,479
)
 
—

 
(1,644
)
Net cash provided by (used for) financing activities
 
(165
)
 
795,896

 
(927,708
)
 
(419,447
)
 
228,841

 
(322,583
)
Effect of exchange rate changes on cash
 
—

 
—

 
—

 
(919
)
 
—

 
(919
)
Net decrease in cash and cash equivalents
 
—

 
(2
)
 
(228,644
)
 
(1,122
)
 
—

 
(229,768
)
Cash and cash equivalents at beginning of period
 
—

 
6

 
347,863

 
424,809

 
—

 
772,678

Cash and cash equivalents at end of period
 
$
—

 
$
4

 
$
119,219

 
$
423,687

 
$
—

 
$
542,910