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cik0000739708:Stations cik0000739708:Markets 0.9 3769000 -6191000 376964000 1395248000 -1321000 0 53936000 35400000 -4086000 125530000 P03Y08M 9.96 -108592000 -8932000 89701000 0 224140000 P15Y 2022-11-15 6404000 503000 -93377000 18390000 -43347000 4436096000 7858000 -197000 -0.01 0 132554000 4128887000 673991000 10923000 0 18644000 <div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' >6</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > &#8211; COMMITMENTS AND CONTINGENCIES</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Commitments and Contingencies</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its rentals that include renewal options, annual rent escalation clauses, minimum franchise payments and maintenance related to displays under </font><font style='font-family:Times New Roman;font-size:10pt;' >the guidance in ASC&#160;840.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company considers its non-cancelable contracts that enable it to display advertising on buses, bus shelters, trains, etc. to be leases in accordance with the guidance in ASC&#160;840-10.&#160; These contracts may contain minimum annual </font><font style='font-family:Times New Roman;font-size:10pt;' >franchise payments which generally escalate each year.&#160; The Company accounts for these minimum franchise payments on a straight-line basis.&#160; If the rental increases are not scheduled in the lease, such as an increase based on subsequent changes in the inde</font><font style='font-family:Times New Roman;font-size:10pt;' >x or rate, those rents are considered contingent rentals and are recorded as expense when accruable.&#160; Other contracts may contain a variable rent component based on revenue.&#160; The Company accounts for these variable components as contingent rentals and reco</font><font style='font-family:Times New Roman;font-size:10pt;' >rds these payments as expense when accruable. No single contract or lease is material to the Company&#8217;s operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for annual rent escalation clauses included in the lease term on a straight-line basis under the guidance in ASC&#160;840-2</font><font style='font-family:Times New Roman;font-size:10pt;' >0-25.&#160; The Company considers renewal periods in determining its lease terms if at inception of the lease there is reasonable assurance the lease will be renewed.&#160; Expenditures for maintenance are charged to operations as incurred, whereas expenditures for </font><font style='font-family:Times New Roman;font-size:10pt;' >renewal and betterments are capitalized.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company leases office space, certain broadcasting facilities, equipment and the majority of the land occupied by its outdoor advertising structures under long-term operating leases. The Company accounts for th</font><font style='font-family:Times New Roman;font-size:10pt;' >ese leases in accordance with the policies described above.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s contracts with municipal bodies or private companies relating to street furniture, billboards, transit and malls generally require the Company to build bus stops, kiosks and other p</font><font style='font-family:Times New Roman;font-size:10pt;' >ublic amenities or advertising structures during the term of the contract.&#160; The Company owns these structures and is generally allowed to advertise on them for the remaining term of the contract.&#160; Once the Company has built the structure, the cost is capit</font><font style='font-family:Times New Roman;font-size:10pt;' >alized and expensed over the shorter of the economic life of the asset or the remaining life of the contract.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In addition, the Company has commitments relating to required purchases of property, plant and equipment under certain street furniture contracts</font><font style='font-family:Times New Roman;font-size:10pt;' >. Certain of the Company&#8217;s contracts contain penalties for not fulfilling its commitments related to its obligations to build bus stops, kiosks and other public amenities or advertising structures.&#160; Historically, any such penalties have not materially imp</font><font style='font-family:Times New Roman;font-size:10pt;' >acted the Company&#8217;s financial position or results of operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain acquisition agreements include deferred consideration payments based on performance requirements by the seller typically involving the completion of a development or obtaining approp</font><font style='font-family:Times New Roman;font-size:10pt;' >riate permits that enable the Company to construct additional advertising displays. At December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company believes its maximum aggregate contingency, which is subject to performance requirements by the seller, is </font><font style='font-family:Times New Roman;font-size:10pt;' >approximately $30.0&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > As the contingencies have not been met or resolved as of December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, these amounts are not recorded.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:40.5pt;' ><td colspan='12' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font 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></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:left;border-color:Black;min-width:81pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:left;border-color:Black;min-width:81pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Capital</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenditure</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employment/Talent</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Operating Leases</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Commitments</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 424,613 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 521,013 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 41,180 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 83,241 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 365,299 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,177 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,691 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,414 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 337,155 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 226,829 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,253 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,887 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 305,311 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,415 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,064 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,625 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 277,210 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 153,050 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,270 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,750 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,205,750 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 359,159 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,545 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,915,338 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,746,643 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69,003 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 147,917 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Rent expense charged to operations for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >1.14</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;billion, </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >17</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >16</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In various areas in which the Company operates, outdoor advertising is the object of restrictive and, in</font><font style='font-family:Times New Roman;font-size:10pt;' > some cases, prohibitive zoning and other regulatory provisions, either enacted or proposed. The impact to the Company of loss of displays due to governmental action has been somewhat mitigated by Federal and state laws mandating compensation for such los</font><font style='font-family:Times New Roman;font-size:10pt;' >s and constitutional restraints.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company and its subsidiaries are involved in certain legal proceedings arising in the ordinary course of business and, as required, have accrued an estimate of the probable costs for the resolution of those claims for </font><font style='font-family:Times New Roman;font-size:10pt;' >which the occurrence of loss is probable and the amount can be reasonably estimated.&#160; These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement </font><font style='font-family:Times New Roman;font-size:10pt;' >strategies.&#160; It is possible, however, that future results of operations for any particular period could be materially affected by changes in the Company&#8217;s assumptions or the effectiveness of its strategies related to these proceedings.&#160; Additionally, due t</font><font style='font-family:Times New Roman;font-size:10pt;' >o the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company&#8217;s financial condition or results of operations.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Although the Company is i</font><font style='font-family:Times New Roman;font-size:10pt;' >nvolved in a variety of legal proceedings in the ordinary course of business, a large portion of its litigation arises in the following contexts: commercial disputes; defamation matters; employment and benefits related claims; governmental fines; intellect</font><font style='font-family:Times New Roman;font-size:10pt;' >ual property claims; and tax disputes.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >International Outdoor Investigation </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >On&#160;April 21, 2015, inspections were conducted at the premises of Clear Channel in Denmark and Sweden as part of an investigation by Danish competition authorities.&#160; Additionally, on the same day, Clear Channel UK received a communication from the UK compet</font><font style='font-family:Times New Roman;font-size:10pt;' >ition authorities, also in connection with the investigation by Danish competition authorities. Clear Channel and its affiliates are cooperating with the national competition authorities</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></p></div> 713592000 -0.01 7637000 141911000 240868000 932172000 -16905000 0 629500000 100754000 P10Y 0 -553000 0 <div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' >4</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > &#8211; ASSET RETIREMENT OBLIGATION</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s asset retirement obligation is reported in &#8220;Other long-term liabilities&#8221; with the current portion recorded in &#8220;Accrued liabilities&#8221; and relates to its obligation to dismantle and remove outdoor </font><font style='font-family:Times New Roman;font-size:10pt;' >advertising displays</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >from leased land and to reclaim the site to its original condition upon the termination or non-renewal of a lease</font><font style='font-family:Times New Roman;font-size:10pt;' > or contract</font><font style='font-family:Times New Roman;font-size:10pt;' >. When the liability is recorded, the cost is capitalized as part of the related long-lived assets&#8217; carrying </font><font style='font-family:Times New Roman;font-size:10pt;' >value. </font><font style='font-family:Times New Roman;font-size:10pt;' >Due to the high rate of lease renewals over a long period of time, the calculation assumes that all related assets will be removed at some period over the next 50</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >years.</font><font style='font-family:Times New Roman;font-size:10pt;' > An estimate of third-party cost information is used with respect to the disma</font><font style='font-family:Times New Roman;font-size:10pt;' >ntling of the structures and the reclamation of the site. The interest rate used to calculate the present value of such costs over the retirement period is based on an estimated risk adjusted cr</font><font style='font-family:Times New Roman;font-size:10pt;' >edit rate for the same period.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents the activity related to the Company&#8217;s asset retirement obligation:</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 54,211 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,380 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustment due to changes in estimates </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,082 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,391)</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accretion of liability</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >754 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,858 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Liabilities settled</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,105)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,802)</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign Currency</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,886)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,834)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Ending balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,056 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 54,211 </font></td></tr></table></div> 5324815000 4925000000 13600000 143500000 1944000 0 0.56 2458000 5000000 181993000 0 3800000 347436000 223892000 P03Y04M 81831000 0.02 -653000 -1526095000 2000000 83752000 16715000 1636738000 622000 1005437000 0 P3Y 120000000 1270000 <div><table style='border-collapse:collapse;' ><tr style='height:14.25pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 3 &#8211; INVESTMENTS</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:left;border-color:Black;min-width:60.75pt;' ></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:left;border-color:Black;min-width:68.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='16' rowspan='1' style='width:551.25pt;text-align:left;border-color:Black;min-width:551.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table summarizes the Company&#39;s investments in nonconsolidated affiliates and available-for-sale securities:</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:left;border-color:Black;min-width:60.75pt;' ></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:left;border-color:Black;min-width:68.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:right;border-color:Black;min-width:172.5pt;' ></td><td colspan='5' rowspan='1' style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity Method Investments</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='6' rowspan='1' style='width:160.5pt;text-align:center;border-color:Black;min-width:160.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:26.25pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ARN</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >All</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Others</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cost Method Investments</font></td><td style='width:6.75pt;text-align:center;border-color:Black;min-width:6.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Marketable Equity Securities</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Investments</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 220,750 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,055 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,783 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,942 </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 248,530 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,263 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,263 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,520 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,520 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in earnings (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (12,678)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,262 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,416)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,449 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (20)</font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (291)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,215 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (228)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,000)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (14)</font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,242)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Proceeds on sale</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (220,783)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (15,820)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (236,603)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,490 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (344)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327 </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,473 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,269 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,978 </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,740 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,578 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,578 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,980 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,546 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 65,526 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in earnings (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (902)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (902)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency transaction adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (89)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (13)</font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (205)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (307)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,350)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,350)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Loss on investments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,000)</font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,000)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 553 </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 553 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,710 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58,802 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,326 </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 88,838 </font></td></tr></table></div> 175865000 651589000 245116000 0 0 2744000 0.1 35.22 20322414000 48466000 0.01 337155000 0 35000 0.015 2015-12-31 77000 972937000 -133365000 0 2559000 1978000 2016-01-29 1457183000 82165000 -0.47 15554000 0.02 183415000 2471024000 11568000 -93272000 95353000 -10586000 68010000 -6450000 31603000 0 1746643000 0 303997000 1400000000 2099101000 426000 -1224000 1049000 14167000 <div><table style='border-collapse:collapse;' ><tr style='height:40.5pt;' ><td colspan='12' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015, the Company&#39;s future minimum rental commitments under non-cancelable operating lease agreements with terms in excess of one year, minimum payments under non-cancelable contracts in excess of one year, capital expenditure commitments and employment/talent contracts consist of the following:</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:left;border-color:Black;min-width:81pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:left;border-color:Black;min-width:81pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:left;border-color:Black;min-width:81pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:left;border-color:Black;min-width:81pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Capital</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-Cancelable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenditure</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employment/Talent</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Operating Leases</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Commitments</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:90pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:90pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contracts</font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 424,613 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 521,013 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 41,180 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 83,241 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 365,299 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,177 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,691 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,414 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 337,155 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 226,829 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,253 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,887 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 305,311 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,415 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,064 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,625 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 277,210 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 153,050 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,270 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,750 </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,205,750 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 359,159 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,545 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:81pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:157.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:157.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,915,338 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,746,643 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69,003 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:81pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:81pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 147,917 </font></td></tr></table></div> -4853000 16970000 9764000 -196073000 4816477000 277210000 1349021000 -121817000 0 10560000 0 320331000 1081586000 0 0.04 32100000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;color:#000000;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >13</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > &#8211; CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > is a party to a management agreement with certain affiliates of Bain Capital Partners, LLC and Thomas</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >H. Lee Partners, L.P. (together, the &#8220;Sponsors&#8221;) and certain other parties pursuant to which such affiliates of the Sponsors will provide management and financial advisory services until </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. These agreements require management fees to be paid to such af</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >filiates of the Sponsors for such services at a rate not greater than $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15.0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >million per year, plus reimbursable expenses. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >For the years ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the Company recognized </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >management fees and reimbursable </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >expenses of $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15.4</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >.2</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;million </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >.8</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;million, respectively.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;color:#000000;' >Stock Purchases</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >On August&#160;9, 2010, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > announced that </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >our</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > board of directors approved a stock purchase program under which </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >we</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > or </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >our</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > subsidiaries may purchase up to an aggregate of $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >100.0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;million of the Class&#160;A common stock of Parent and/or the Class&#160;A common stock of CCOH. The stock purchase program </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >did</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >not </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >have a fixed expiration date and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >could</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > be modified, suspended or terminated at any time at </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >our</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > discretion.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > As o</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >f December 31, 2014, an aggregate $34.2 million was available under this program. In January 2015, CC </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, LLC (&#8220;CC </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#8221;), an indirect wholly-owned subsidiary of the Company, purchased 2,000,000 shares of CCOH&#8217;s Class A common stock for $20.4 million.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > On April 2, 2015, CC </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Finco</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > purchased an additional 2,172,946 shares of CCOH&#8217;s Class A common stock for $22.2 million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, increasing </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >our</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > collective holdings to represent slightly more than </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >90</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >% of the outstanding shares of CCOH&#8217;s common s</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >tock on a fully-diluted basis, assuming the conversion of all of CCOH&#8217;s Class B common stock into Class A common stock. As a result of this purchase, the stock purchase program concluded. The purchase of shares in excess of the amount available under the s</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >tock purchase program was separately approved by the board of directors.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >On December 3, 2015, C</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >lear </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >C</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >hannel</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Holdings</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, Inc.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > contributed 100,000,000 shares of CCOH&#8217;s Class B Common Stock to Broader Media</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, LLC, an indirect wholly-owned subsidiary of the Company,</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >as a capital</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > contribution</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, to provide greater flexibility in support of future financing transactions, share dispositions and other similar transactions. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ></p></div> 2564000 14002449000 -857000 95671000 -841000 59007000 5.56 -902353000 971327000 1442038000 153276000 -902000 -414407000 931420000 30234000 5150000000 0 1925000000 0.35 0 0 1215000 428967000 -414407000 330302000 553000 -754621000 30579000 0 114079000 0 0 0 -690000 0 2699064000 P20Y 68800000 46806000 0 0 106498000 -1628000 4200000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Accounts Receivable</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >Accounts receivable are recorded at the i</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >nvoiced amount, net of reserves for sales returns and allowances, and allowances for doubtful accounts. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company evaluates the collectability of its accounts receivable based on a combination of factors. In circumstances where it is aware of a specifi</font><font style='font-family:Times New Roman;font-size:10pt;' >c customer&#8217;s inability to meet its financial obligations, it records a specific reserve to reduce the amounts recorded to what it believes will be collected. For all other customers, it recognizes reserves for bad debt based on historical experience of ba</font><font style='font-family:Times New Roman;font-size:10pt;' >d debts as a percent of revenue for each business unit, adjusted for relative improvements or deteriorations in the </font><font style='font-family:Times New Roman;font-size:10pt;' >agings</font><font style='font-family:Times New Roman;font-size:10pt;' > and changes in current economic conditions. The Company believes its concentration of credit risk is limited due to the large number</font><font style='font-family:Times New Roman;font-size:10pt;' > and the geographic diversification of its customers.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Business Combinations</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its business combinations under the acquisition method of accounting. The total cost of an acquisition is allocated to the underlying identifiable net ass</font><font style='font-family:Times New Roman;font-size:10pt;' >ets, based on their respective estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Determining the fair value of assets acquired and liabilities assumed requires manage</font><font style='font-family:Times New Roman;font-size:10pt;' >ment&#39;s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows </font><font style='font-family:Times New Roman;font-size:10pt;' >and outflows, discount rates, asset lives and market multiples, among other items. Various acquisition agreement</font><font style='font-family:Times New Roman;font-size:10pt;' >s may include contingent purchase consideration based on performance requirements of the investee. The Company accounts for these payments in conformity with the provisions of ASC&#160;805-20-30, which establish the requirements related to recognition of certa</font><font style='font-family:Times New Roman;font-size:10pt;' >in assets and liabilities arising from contingencies.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 1978000 7783000 5000000 36500000 4925000000 2020-12-15 0 2300000 0 5070000 1553000 0 15400000 0.02 Certain Covenants and Events of Default The senior secured credit facilities include negative covenants that, subject to significant exceptions, limit ##D<iHearts/iHearts/theCompanys> ability and the ability of its restricted subsidiaries to, among other things: incur additional indebtedness; create liens on assets; engage in mergers, consolidations, liquidations and dissolutions; sell assets; pay dividends and distributions or repurchase ##D<iHearts/iHearts/theCompanys> capital stock; make investments, loans, or advances; prepay certain junior indebtedness; engage in certain transactions with affiliates; amend material agreements governing certain junior indebtedness; and change lines of business. The indentures governing the Priority Guarantee Notes contain covenants that limit ##D<iHearts/iHearts/theCompanys> ability and the ability of its restricted subsidiaries to, among other things: (i) pay dividends, redeem stock or make other distributions or investments; (ii) incur additional debt or issue certain preferred stock; (iii) modify any of ##D<iHearts/iHearts/theCompanys> existing senior notes; (iv) transfer or sell assets; (v) engage in certain transactions with affiliates; (vi) create restrictions on dividends or other payments by the restricted subsidiaries; and (vii) merge, consolidate or sell substantially all of ##D<iHearts/iHearts/theCompanys> assets. The indentures contain covenants that limit the Company’s ##D<andiHearts/andiHearts/>ability and the ability of its restricted subsidiaries to, among other things: (i) create liens on assets and (ii) materially impair the value of the security interests taken with respect to the collateral for the benefit of the notes collateral agent and the holders of the Priority Guarantee Notes. The indentures also provide for customary events of default 9104000 0 153050000 730000000 -89000 2205750000 iHeartCommunications, Inc. 18055000 -5391000 54211000 476523000 10691000 5263000 17923000 69042000 FY 4416000 4925000000 124342000 15800000 3658000 24376000 1244000 424613000 -11682390000 34600000 -384966000 7231222000 192900000 Due to the high rate of lease renewals over a long period of time, the calculation assumes that all related assets will be removed at some period over the next 50 years. 4192000 -12678000 2545448000 3288481000 133700000 P04Y02M 27740000 454863000 65500000 156349000 -21529000 891488000 P5Y 1541000 16082000 2172946 0.9 0 119887000 9346000 217770000 750000 578519000 12575294000 -709000 87227000 0 1715797000 2019-07-30 220166000000 -3916000 21532000 49900000 0 0 5000000000 584574000 3500000000 -484000 0 12545000 <div><table style='border-collapse:collapse;' ><tr style='height:26.25pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the increase (decrease) in net deferred income tax liabilities related to each component of other comprehensive income (loss) for the years ended December 31, 2015, 2014 and 2013, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:justify;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments and other</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,585 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (14,421)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,010)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain (loss) on cash flow derivatives</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,759 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total increase in deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,585 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,328 </font></td></tr></table></div> 33923000 2425502000 -90073000 34200000 315682000 248530000 0 3284320000 432616000 3288481000 1300000000 0 -606883000 7743000 -88682000 4.56 13821098000 123849000 23516000 0 7932000 320341000 0 974031000 12157000 0 0.5 41800000 -205000 2082000 40800000 0 8.43 9 0.0675 431900000 68388000 6318533000 34000 614000 93142000 432237000 -221917000 627842000 -107824000 -13304000 4187424000 953660000 13056000 52384000 414278000 -204611000 30719000 39539000 4541000 1772000 0 53074000 7725000 2020-03-15 -279995000 30000000 897520000 -308590000 2559000 1064000 -121878000 40027000 0.01 0 0 -3317000 74700000 -8696635000 0 -2476000 P10Y 667900000 0 P39Y 45000000 110526000 10.35 0 4.25 10.33 413146000 -649672000 42000 77288000 0 -83819000 220750000 48180000 The Senior Notes due 2021 mature on February 1, 2021. Interest on the Senior Notes due 2021 is payable semi-annually on February 1 and August 1 of each year, which began on August 1, 2013. Interest on the Senior Notes due 2021 will be paid at the rate of (i) 12.0% per annum in cash and (ii) 2.0% per annum through the issuance of payment-in-kind notes (the “PIK Notes”). -23555000 10-K -101980000 -5000000 299000 1344564000 267126000 -12437011000 6241516000 -754621000 0 10923000 6274815000 575000000 -0.04 24833000 233641000 122448000 16905000 109727000 4600000000 174062000 -389367000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Goodwill</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At least annually, the Company performs its impairment</font><font style='font-family:Times New Roman;font-size:10pt;' > test for each reporting unit&#8217;s goodwill. The Company uses a discounted cash flow model to determine if the carrying value of the reporting unit, including goodwill, is less than the fair value of the reporting unit. The Company identified its reporting u</font><font style='font-family:Times New Roman;font-size:10pt;' >nits in accordance with ASC&#160;350-20-55. The U.S. radio markets are aggregated into a single reporting unit and the Company&#8217;s U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test. The Comp</font><font style='font-family:Times New Roman;font-size:10pt;' >any also determined that within its Americas outdoor segment, Canada constitutes a separate reporting unit and each country in its International outdoor segment constitutes a separate reporting unit. The Company had no impairment of goodwill in 2015 and 2</font><font style='font-family:Times New Roman;font-size:10pt;' >014. The Company recognized a non-cash impairment charge to goodwill of $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million based on declining future cash flows expected in one country in the International outdoor segment for 2013.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 13300000 8520000 1535000 575000000 -60000 0 2117413000 0 -114852000 212000000 1342548000 534683000 1700000 -9665208000 -0.01 20100000 40819000 0 -2476000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='16' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The reconciliation of income tax computed at the U.S. Federal statutory tax rates to income tax benefit is:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='14' rowspan='1' style='width:402pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:402pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit at</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >statutory rates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 227,686 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,284 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,867 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >State income taxes, net of </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >federal tax effect</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,795 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,518 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,768 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign income taxes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (23,474)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(4%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,074 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (22,640)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Nondeductible items</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,764)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,533)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,870)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Changes in valuation allowance </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other estimates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (302,935)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(46%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (333,641)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(47%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (135,161)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(19%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (265)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,191)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,853 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (86,957)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(13%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >17%</font></td></tr></table></div> P08Y05M -29000 -246867000 1225010000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized Tax Benefits</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at beginning of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,914 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 129,375 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax position taken in the current year</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,856 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,848 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax positions taken in previous years</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,087 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,003 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases for tax position taken in previous years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,534)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,764)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to settlements with tax authorities</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,821)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,181)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to lapse of statute of limitations</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,294)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,367)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at end of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 103,208 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,914 </font></td></tr></table></div> 54300000 28759000 2014488000 22998000 521013000 No 10400000 6243044000 58489000 1630034000 319384000 1925000000 7743000 0 41180000 59380000 0 10998000 365299000 34017000 6.13 Payable semi-annually on March 1 and September 1 of each year 22200000 4.21 24176000 186100000 3262000 40031000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' >9</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > &#8211; EMPLOYEE STOCK AND SAVINGS PLANS</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > has various 401(k) savings and other plans for the purpose of providing retirement benefits for substantially all employees. Under these plans, an employee can make pre-tax contributions and </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > will match a portion of such an e</font><font style='font-family:Times New Roman;font-size:10pt;' >mployee&#8217;s contribution. </font><font style='font-family:Times New Roman;font-size:10pt;' > Employees vest in these </font><font style='font-family:Times New Roman;font-size:10pt;' >matching contributions based upon their years of service to </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >. Contributions </font><font style='font-family:Times New Roman;font-size:10pt;' >of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2</font><font style='font-family:Times New Roman;font-size:10pt;' >8.9</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >32.1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >31.8</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million to these plans for the years en</font><font style='font-family:Times New Roman;font-size:10pt;' >ded December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively, were expensed.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > offers a non-qualified deferred compensation plan for </font><font style='font-family:Times New Roman;font-size:10pt;' >a select group of management or </font><font style='font-family:Times New Roman;font-size:10pt;' >highly compensated </font><font style='font-family:Times New Roman;font-size:10pt;' >employees</font><font style='font-family:Times New Roman;font-size:10pt;' >, under which such </font><font style='font-family:Times New Roman;font-size:10pt;' >employees</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >were</font><font style='font-family:Times New Roman;font-size:10pt;' > able to make </font><font style='font-family:Times New Roman;font-size:10pt;' >an annual election to defer up to </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >% of their annual salary and up to </font><font style='font-family:Times New Roman;font-size:10pt;' >80</font><font style='font-family:Times New Roman;font-size:10pt;' >% of their bonus before taxes. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > suspended all salary and bonus deferrals and company matching contributions to the deferred compensation plan on January</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;1, 2010. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > accounts for the plan in accordance with the provisions of ASC</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >710-10. Matching credits on amounts deferred may be made in </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > sole discretion and </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > retains </font><font style='font-family:Times New Roman;font-size:10pt;' >ownership of all assets until distributed. Participants in the plan have the opportunity to allocate their deferrals and any </font><font style='font-family:Times New Roman;font-size:10pt;' >matching credits among different investment options, the performance of which is used to determine the amounts </font><font style='font-family:Times New Roman;font-size:10pt;' >to be paid to participants under the plan. In accordance with the provisions of ASC</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >710-10, the assets and liabilities of the non-qualified deferred compensation plan are presented in &#8220;Other assets&#8221; and &#8220;Other long-term liabilities&#8221; in the accompanying co</font><font style='font-family:Times New Roman;font-size:10pt;' >nsolidated balance sheets, respectively. The asset and liability under the deferred compensation plan at December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million recorded in &#8220;Other assets&#8221; and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >10.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million recorded in &#8220;Other long-term liabilities&#8221;,</font><font style='font-family:Times New Roman;font-size:10pt;' > respectiv</font><font style='font-family:Times New Roman;font-size:10pt;' >ely. The asset and liability under the deferred compensation plan at December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million recorded in &#8220;Other assets&#8221; and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >1.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million recorded in &#8220;Other long-term liabilities&#8221;, respectively.</font></p></div> 0 -19898000 18199000 112037000 2473345000 -808000 1701555000 -12437011000 2578000 88838000 6300000000 6300000000 6274815000 -0.46 <div><table style='border-collapse:collapse;' ><tr style='height:24.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 8 &#8211; SHAREHOLDER&#8217;S DEFICIT</font></td></tr><tr style='height:41.25pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company reports its noncontrolling interests in consolidated subsidiaries as a component of equity separate from the Company&#8217;s equity. The following table shows the changes in shareholder&#8217;s deficit attributable to the Company and the noncontrolling interests of subsidiaries in which the Company has a majority, but not total, ownership interest:</font></td></tr><tr style='height:13.5pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ></td></tr><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands) </font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of January 1, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,889,348)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 224,140 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,665,208)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (754,621)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,131 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (737,490)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (52,384)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (52,384)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase of additional noncontrolling interests</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,819)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,978)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (42,797)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Share-based compensation</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,564 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,359 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,923 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (93,377)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,529)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (114,906)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 495 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 553 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,253)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,013)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,266)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 734 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 808 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (671)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,757 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,086 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of December 31, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(10,784,296)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >177,615 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(10,606,681)</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:30pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:8.25pt;text-align:center;border-color:Black;min-width:8.25pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of January 1, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8,942,166)</font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,531 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8,696,635)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (793,761)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,603 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (762,158)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase of additional noncontrolling interests</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (46,806)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,944)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,750)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Share-based compensation</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,970 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,743 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,713 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (101,980)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,898)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (121,878)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 285 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 42 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,214)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,224)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,438)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (993)</font></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,314 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,321 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,889,348)</font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 224,140 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,665,208)</font></td></tr></table></div> 0 32768000 0 -9274000 0 33543000 82197000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Cash and Cash Equivalents</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Cash and cash equivalents include all highly liquid investments with an original maturity of three months or less.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 0 602000000 58802000 950000000 204600000 97200000 57100000 0.005 0 9300000 2411071000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Other long-term liabilities&#8221; as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized tax benefits</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 113,563 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110,410 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Asset retirement obligation</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,574 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 53,936 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan liabilities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,385 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred income</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 137,942 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,734 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 141,911 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 125,530 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employee related liabilities</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,491 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,963 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,705 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 89,722 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other long-term liabilities </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 526,571 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 454,863 </font></td></tr></table></div> -77696000 1243000 0 8947000 2237000 -5070000 206338000 21631000 0 313871000 176048000 94001000 8359000 2490000 27710000 300000000 667900000 46188000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following assumptions were used to calculate the fair value of CCOH&#8217;s options on the date of grant:</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:276pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:13.5pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected volatility</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >37% &#8211; 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >54% &#8211; 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >55% &#8211; 56%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected life in years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Risk-free interest rate</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.70% &#8211; 2.07%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.73% &#8211; 2.08%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.05% &#8211; 2.19%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividend yield</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td></tr></table></div> <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' >10</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > &#8212; OTHER INFORMATION</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &quot;Other income (expense)&quot; for the years ended December 31, 2015, 2014 and 2013, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:center;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign exchange gain</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,468 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,554 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,772 </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Debt modification expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (23,555)</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,412)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,450)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (197)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other income (expense), net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,056 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,104 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,980)</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:26.25pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the increase (decrease) in net deferred income tax liabilities related to each component of other comprehensive income (loss) for the years ended December 31, 2015, 2014 and 2013, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:justify;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments and other</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,585 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (14,421)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,010)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain (loss) on cash flow derivatives</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,759 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total increase in deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,585 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,559 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,328 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Other current assets&#8221; as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands) </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Inventory</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 24,833 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,777 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,184 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,466 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,768 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,602 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 51,252 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,661 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other current assets </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 112,037 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 98,506 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Other assets&#8221; as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:justify;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in, and advances to, nonconsolidated affiliates</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,710 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other investments</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 61,128 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,247 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Notes receivable</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 156 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 242 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid expenses</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,932 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,082 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 115,215 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 130,267 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,025 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,822 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74,114 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56,430 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan assets</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,385 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,637 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,914 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other assets </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 330,302 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 289,065 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Other long-term liabilities&#8221; as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized tax benefits</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 113,563 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110,410 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Asset retirement obligation</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,574 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 53,936 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan liabilities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,385 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred income</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 137,942 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,734 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 141,911 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 125,530 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Employee related liabilities</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,491 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,963 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,705 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 89,722 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other long-term liabilities </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 526,571 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 454,863 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:26.25pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Accumulated other comprehensive loss,&#8221; net of tax, as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (389,367)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (291,520)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative unrealized gain on securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,946 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,397 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative other adjustments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (26,986)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (18,467)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total accumulated other comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (414,407)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (308,590)</font></td></tr></table></div> 156000 26025000 113563000 0 424163000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Financial Instruments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Due to their short maturity, the carrying amounts of accounts and notes receivable, accounts payable, accrued l</font><font style='font-family:Times New Roman;font-size:10pt;' >iabilities, and short-term borrowings approximated their fair values at December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 129100000 6 -291000 6105000 1750000000 0.17 242000 441771000 0 1000782000 <div><table style='border-collapse:collapse;' ><tr style='height:91.5pt;' ><td colspan='9' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter transactions represent the exchange of advertising spots or display space for merchandise, services or other assets. These transactions are recorded at the estimated fair market value of the advertising spots or display space or the fair value of the merchandise or services received, whichever is most readily determinable. Revenue is recognized on barter and trade transactions when the advertisements are broadcasted or displayed. Expenses are recorded ratably over a period that estimates when the merchandise, service or other assets received is utilized, or when the event occurs. Barter and trade revenues and expenses from continuing operations are included in consolidated revenue and selling, general and administrative expenses, respectively. Barter and trade revenues and expenses from continuing operations were as follows:</font></td></tr><tr style='height:15pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In millions)</font></td><td colspan='8' rowspan='1' style='width:222pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:222pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:13.5pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade revenues</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 132.5 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77.6 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 71.3 </font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110.9 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74.7 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 65.5 </font></td></tr></table></div> 603234000 23366000 2999582000 232538000 319384000 -4308000 P20Y -3193000 -129672000 -10281746000 0 174871000 394983000 21073205000 8990000 36403000 16576000 -1873000 0.04 326600000 -19644000 3056369000 8857000 13304000 P20Y 1849642000 2750000 635772000 127439000000 91887000 731925000 23777000 3270521000 426902000 944929000 252900000 1543455000 31049000 111884000 1989250000 0 17900000 2000000000 -11010000 1540860000 72705000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >New Accounting Pronouncements</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the Company adopted the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) ASU No. 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >This update provides guidance for the recognition, measurement and disclosure of discontinued operations. The adoption of this guidance did not have a material effe</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ct on the Company&#8217;s consolidated financial statements.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > quarter of 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the FASB issued ASU No. 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >02</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Consolidation (Topic 810), Amendments to the Consolidation Analysis</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This new standard </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >eliminates the deferral of FAS 167, which has</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > allowed entities with interest in certain investment funds to follow the previous consolidation guidance in FIN 46(R) and makes other changes to both the variable interest model and the voting model</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. The standard is effective for annual periods</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, and for</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > i</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >nterim periods within those annual periods, beginning after December 15, 2015. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operations.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the second</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > quarter of 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, t</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >he</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > FASB issued </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ASU No. 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >03</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >requires entities to present debt issuance costs related to a recognized debt liability as a direct deductio</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >n from the carrying amount of that direct debt liability. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The standard is effective for annual periods</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, and for</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > interim periods within those annual periods, beginning after December 15, 2015. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company will adopt this standard in the first quarter of 2</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >016.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the third quarter of 2015, the FASB issued </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ASU 2015-14, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > provides a one-year deferral of the effective date for ASU No. 2014-09, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Revenue from </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Contracts with Customers</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. ASU No. 2014-09 provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under U.S. GAAP. T</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >he standard is effective for the first interim period within annual reporting periods beginning after December 15, 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operati</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ons.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the third quarter of 2015, the FASB issued ASU No. 2015-16, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >eliminates the requirement for an acquirer in a business combination to</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >a</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ccount for measurement-period adjustments retrospectively.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Instead, acquirers must recognize measurement-period adjustments during the period in which</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >they determine the amounts, including the effect on earnings of any amounts they would have</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >recorded in p</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >revious periods if the accounting had been completed at the acquisition date.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >standard</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > is effective for fiscal years beginning after</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015, and interim periods within those fiscal years. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company is currently evaluating the impact of the</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > provisions of this new standard on its financial position and results of operations.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the fourth quarter of 2015, the Company adopted FASB&#8217;s ASU No. 2015-17, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >requ</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >adoption of this guidance did not have a material effect on the Company&#8217;s consolidated financial statements.</font></p><p style='text-align:justify;line-height:12pt;' ></p></div> 61143000 0 333641000 0 24566000 0.065 6300000 344000 0 760500000 735750000 -11490000 0.07625 -60000 9493000 1700000000 716723000 -213469000 240230000 -307000 453921000 224140000 -793761000 5263000 -0.19 36353000 212872000 -19904000 252526000 -583517000 1500000 -754621000 710898000 -21980000 3191000 0 -516859000 1649451000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Significant components of the Company&#39;s deferred tax liabilities and assets as of December 31, 2015 and 2014 are as follows:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax liabilities: </font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intangibles and fixed assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,173,491 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,335,584 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-term debt</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 79,758 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 119,887 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,701 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,696 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,540 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,857 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,268,490 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,471,024 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax assets: </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accrued expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 114,079 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 111,884 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net operating loss carryforwards</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,495,294 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,445,340 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Bad debt reserves</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,256 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,346 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,539 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,017 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total gross deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,658,168 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,600,587 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: Valuation allowance</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,576 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 713,592 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,929 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,554,898 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,526,095 </font></td></tr></table></div> 11288000 100000000 86957000 2886000 1871000 296380000 579000 0 <div><table style='border-collapse:collapse;' ><tr style='height:24pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 5 &#8211; LONG-TERM DEBT</font></td></tr><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-term debt at December 31, 2015 and 2014 consisted of the following:</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivables Based Credit Facility Due 2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 230,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,274,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Revolving Credit Facility Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Secured Subsidiary Debt</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 25,228 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,257 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Consolidated Secured Debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,830,043 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,575,294 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >14.0% Senior Notes Due 2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,695,097 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,661,697 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.0% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 730,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 730,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,150,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Subsidiary Debt</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 165 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,024 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase accounting adjustments and original issue discount </font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (204,611)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (234,897)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,868,594 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,326,018 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: current portion</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 181,512 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,604 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total long-term debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,687,082 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,322,414 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='6' rowspan='1' style='width:458.25pt;text-align:left;border-color:Black;min-width:458.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company had senior secured credit facilities consisting of:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:7.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan B</font></td><td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 916,061 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan C</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,161 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan D</font></td><td style='width:80.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/30/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan E</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7/30/2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:277.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company had outstanding Priority Guarantee Notes consisting of:</font></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2019</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >12/15/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on June 15 and December 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,000,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,000,000 </font></td></tr><tr style='height:42pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.625% Priority Guarantee Notes due 2023</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2023</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.625%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 950,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,274,815 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:33pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company had outstanding senior notes (net of $57.1 million aggregate principal amount held by a subsidiary of the Company) consisting of:</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.5% Senior Notes Due 2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 192,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 192,900 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.875% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.25% Senior Notes Due 2027</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:4.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:26.25pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company&#39;s subsidiaries, Clear Channel Worldwide Holdings, Inc. (&quot;CCWH&quot;) and Clear Channel International B.V. had outstanding notes consisting of:</font></td></tr><tr style='height:6pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Notes:</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series A Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series B Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td></tr><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Subordinated Notes:</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:54.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series A Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td></tr><tr style='height:56.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series B Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:100.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total CCWH Notes</font></td><td style='width:61.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Clear Channel International B.V. Senior Notes:</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8.75% Senior Notes</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Due 2020</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >12/15/2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8.75%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on June 15 and December 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 225,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='2' rowspan='1' style='width:162pt;text-align:left;border-color:Black;min-width:162pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,150,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr></table></div> 23474000 -10000 0 0 -338902000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Other Investments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other investments are composed primarily of equity securities. Securities for which fair value is determinable are classified as available-for-sale or trading and are carried at fair value bas</font><font style='font-family:Times New Roman;font-size:10pt;' >ed on quoted market prices. Securities are carried at historical cost when quoted market prices are unavailable. The net unrealized gains or losses on the available-for-sale securities, net of tax, are reported in accumulated other comprehensive loss as </font><font style='font-family:Times New Roman;font-size:10pt;' >a component of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company periodically assesses the value of available-for-sale and non-marketable securities and records impairment charges in the statement of comprehensive loss for any decline in value</font><font style='font-family:Times New Roman;font-size:10pt;' > that is determined to be other-than-temporary. The average cost method is used to compute the realized gains and losses on sales of equity securities. Based on these assessments, the Company concluded that other-than-temporary impairments existed at Dece</font><font style='font-family:Times New Roman;font-size:10pt;' >mber&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and recorded a noncash impairment charge of $</font><font style='font-family:Times New Roman;font-size:10pt;' >5.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million during the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >. Such charge is recorded on the statement of comprehensive loss in &#8220;Gain (loss) on investments, net&#8221;. There were no impairment charges duri</font><font style='font-family:Times New Roman;font-size:10pt;' >ng the years ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 12912000 0 -705334000 59400000 2600000 -9560000 -2620000 289065000 -993000 236618000 -8974000 5324815000 -74000 4341000 135571000 921000 0 168824000 -13326000 0 1248860000 1659228000 177615000 63838000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE 1 </font><font style='font-family:Calibri;font-size:11pt;font-weight:bold;' >&#8211;</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nature of Business</font></p><p style='text-align:left;margin-top:4.5pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. is a Texas corporation (the </font><font style='font-family:Times New Roman;font-size:10pt;' >&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >Company</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;)</font><font style='font-family:Times New Roman;font-size:10pt;' > with all of its </font><font style='font-family:Times New Roman;font-size:10pt;' >shares of common stock</font><font style='font-family:Times New Roman;font-size:10pt;' > held by </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > Capital</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >I, LLC, a</font><font style='font-family:Times New Roman;font-size:10pt;' >n</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >in</font><font style='font-family:Times New Roman;font-size:10pt;' >direct, wholly owned subsidiary of </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. (&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;). </font><font style='font-family:Times New Roman;font-size:10pt;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;' > was formed in May</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >2007 by private equity funds sponsored by Bain Capital Partners, LLC and Thomas</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >H. Lee Partners, L.P. (together, the &#8220;Sponsors&#8221;) for the purpose of acquiring the business of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >. The acquisition was completed on July</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >30, 2008 pursuant to the Agreem</font><font style='font-family:Times New Roman;font-size:10pt;' >ent and Plan of Merger, dated November</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >16, 2006, as amended on April</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >18, 2007, May</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >17, 2007 and May</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >13,</font><font style='font-family:Times New Roman;font-size:10pt;' > 2008 (the &#8220;Merger Agreement&#8221;).</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Upon the consummation of the merger, </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. became a public company and the Company was no longer a public co</font><font style='font-family:Times New Roman;font-size:10pt;' >mpany.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >All references in this Annual Report on Form 10-K to the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer to </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. and its consolidated subsidiaries. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s reportable operating segments are </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > (&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;), Americas outdoor</font><font style='font-family:Times New Roman;font-size:10pt;' > advertising (&#8220;Americas outdoor&#8221;), and International outdoor advertising (&#8220;International outdoor&#8221;). The </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment provides media and entertainment services via broadcast and digital delivery. The Americas outdoor and International outdoor segments prov</font><font style='font-family:Times New Roman;font-size:10pt;' >ide outdoor advertising services in their respective geographic regions using various digital and traditional display types. Included in the &#8220;Other&#8221; category are the Company&#8217;s media representation business, Katz Media Group, as well as other general suppor</font><font style='font-family:Times New Roman;font-size:10pt;' >t services and initiatives, which are ancillary to its other businesses.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >We are a holding company and have no significant assets other than the ownership interests in our subsidiaries. All of our ope</font><font style='font-family:Times New Roman;font-size:10pt;' >rations and all of our operating assets are held by our subsidiaries. Certain of our outstanding indebtedness is fully and unconditionally guaranteed on a joint and several basis by our parent, </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > Capital I, LLC (&#8220;Capital I&#8221;), and certain of our </font><font style='font-family:Times New Roman;font-size:10pt;' >direct and indirect wholly-owned domestic subsidiaries. Not all of our subsidiaries guarantee our obligations under such outstanding indebtedness. For a presentation of the allocation of assets, liabilities, equity, revenues and expenses attributable to </font><font style='font-family:Times New Roman;font-size:10pt;' >the guarantors of our indebtedness in conformity with the SEC&#8217;s Regulation S-X Rule 3-10(d), please refer to </font><font style='font-family:Times New Roman;font-size:10pt;' >Note 14</font><font style='font-family:Times New Roman;font-size:10pt;' > to the consolidated financial statements of Capital I as of and for the year ending December 31, 2015.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Use of Estimates</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates, judgments, and assumptions that affect the amounts reported in the </font><font style='font-family:Times New Roman;font-size:10pt;' >consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under t</font><font style='font-family:Times New Roman;font-size:10pt;' >he circumstances. Actual results could differ from those estimates.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Principles of Consolidation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are en</font><font style='font-family:Times New Roman;font-size:10pt;' >tities for which the Company has a controlling financial interest or is the primary beneficiary. Investments in companies in which the Company owns </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >percent to </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >percent of the voting common stock or otherwise exercises significant influence over opera</font><font style='font-family:Times New Roman;font-size:10pt;' >ting and financial policies of the Company are accounted for using the equity method of accounting. All significant intercompany accounts have bee</font><font style='font-family:Times New Roman;font-size:10pt;' >n eliminated in consolidation.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain prior period amounts have been reclassified to conform to the </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >presentation</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >Included in International Outdoor Direct operating expenses and Selling, general and administrative expenses are $8.2 million and $3.2 million, respectively, recorded in the fourth quarter of 2015 to correct for accounting errors included in</font><font style='font-family:Times New Roman;font-size:10pt;' > the results for our Netherlands subsidiary reported in prior years. Such corrections are not considered to be material to current year </font><font style='font-family:Times New Roman;font-size:10pt;' >or prior year financial results</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;color:#FF0000;' > </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company is the beneficiary of two trusts created to comply with Federal Communic</font><font style='font-family:Times New Roman;font-size:10pt;' >ations Commission (&#8220;FCC&#8221;) ownership rules.&#160; The radio stations owned by the trusts are managed by independent trustees.&#160; The trustees are marketing these stations for sale, and the stations will have to be sold unless any stations may be owned by the Compa</font><font style='font-family:Times New Roman;font-size:10pt;' >ny under then-current FCC rules, in which case the trusts will be terminated with respect to such stations.&#160; The trust agreements stipulate that the Company must fund any operating shortfalls of the trust activities, and any excess cash flow generated by t</font><font style='font-family:Times New Roman;font-size:10pt;' >he trusts is distributed to the Company. &#160;The Company is also the beneficiary of proceeds from the sale of stations held in the trusts.&#160; The Company consolidates the trusts in accordance with ASC&#160;810-10, which requires an enterprise involved with variable </font><font style='font-family:Times New Roman;font-size:10pt;' >interest entities to perform an analysis to determine whether the enterprise&#8217;s variable interest or interests give it a controlling financial interest in the variable interest entity, as the trusts were determined to be a variable interest entity and the C</font><font style='font-family:Times New Roman;font-size:10pt;' >ompany is the primary beneficiary under the trusts.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Cash and Cash Equivalents</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Cash and cash equivalents include all highly liquid investments with an original maturity of three months or less.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Accounts Receivable</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >Accounts receivable are recorded at the i</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >nvoiced amount, net of reserves for sales returns and allowances, and allowances for doubtful accounts. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company evaluates the collectability of its accounts receivable based on a combination of factors. In circumstances where it is aware of a specifi</font><font style='font-family:Times New Roman;font-size:10pt;' >c customer&#8217;s inability to meet its financial obligations, it records a specific reserve to reduce the amounts recorded to what it believes will be collected. For all other customers, it recognizes reserves for bad debt based on historical experience of ba</font><font style='font-family:Times New Roman;font-size:10pt;' >d debts as a percent of revenue for each business unit, adjusted for relative improvements or deteriorations in the </font><font style='font-family:Times New Roman;font-size:10pt;' >agings</font><font style='font-family:Times New Roman;font-size:10pt;' > and changes in current economic conditions. The Company believes its concentration of credit risk is limited due to the large number</font><font style='font-family:Times New Roman;font-size:10pt;' > and the geographic diversification of its customers.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Business Combinations</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for its business combinations under the acquisition method of accounting. The total cost of an acquisition is allocated to the underlying identifiable net ass</font><font style='font-family:Times New Roman;font-size:10pt;' >ets, based on their respective estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Determining the fair value of assets acquired and liabilities assumed requires manage</font><font style='font-family:Times New Roman;font-size:10pt;' >ment&#39;s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows </font><font style='font-family:Times New Roman;font-size:10pt;' >and outflows, discount rates, asset lives and market multiples, among other items. Various acquisition agreement</font><font style='font-family:Times New Roman;font-size:10pt;' >s may include contingent purchase consideration based on performance requirements of the investee. The Company accounts for these payments in conformity with the provisions of ASC&#160;805-20-30, which establish the requirements related to recognition of certa</font><font style='font-family:Times New Roman;font-size:10pt;' >in assets and liabilities arising from contingencies.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Property, Plant and Equipment</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method at rates that, in the opinion of management, are adequate to allo</font><font style='font-family:Times New Roman;font-size:10pt;' >cate the cost of such assets over their estimated useful lives, which are as follows:</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Buildings and improvements &#8211; 10 to 39 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Structures &#8211; 3 to 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Towers, transmitters and studio equipment &#8211; 5 to </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' > years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Furniture and other equipment &#8211; 2 to</font><font style='font-family:Times New Roman;font-size:10pt;' > 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Leasehold improvements &#8211; shorter of economic life or lease term assuming renewal periods, if appropriate</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >For assets associated with a lease or contract, the assets are depreciated at the shorter of the economic life or the lease or contract ter</font><font style='font-family:Times New Roman;font-size:10pt;' >m, assuming renewal periods, if appropriate. Expenditures for maintenance and repairs are charged to operations as incurred, whereas expenditures for renewal and betterments are capitalized.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of property, plant, a</font><font style='font-family:Times New Roman;font-size:10pt;' >nd equipment whenever events and circumstances indicate that depreciable assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determ</font><font style='font-family:Times New Roman;font-size:10pt;' >ined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Assets and businesses are classified as held for sale if their carrying amount will be recovered or settled principally through a sale transaction</font><font style='font-family:Times New Roman;font-size:10pt;' > rather than through continuing use. The asset or business must be available for immediate sale and the sale must be highly probable within one year.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Leases</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Most of the Company&#8217;s outdoor advertising structures are located on leased land. Americas outdoor</font><font style='font-family:Times New Roman;font-size:10pt;' > land leases are typically paid in advance for periods ranging from one to 12&#160;months. International outdoor land leases are paid both in advance and in arrears, for periods ranging from one to 12&#160;months. Most international street furniture display faces </font><font style='font-family:Times New Roman;font-size:10pt;' >are operated through contracts with municipalities for up to 20&#160;years. The leased land and street furniture contracts often include a percent of revenue to be paid along with a base rent payment. Prepaid land leases are recorded as an asset and expensed </font><font style='font-family:Times New Roman;font-size:10pt;' >ratably over the related rental term and rent payments in arrears are recorded as an accrued liability.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company has entered into leases for tower sites</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >for most of its broadcasting locations. Tower site leases are typically paid monthly in advance, a</font><font style='font-family:Times New Roman;font-size:10pt;' >nd have 30-year lease terms including annual rent escalations. Most tower site leases are operating leases, and operating lease expense is recognized straight-line based on the minimum </font><font style='font-family:Times New Roman;font-size:10pt;' >lease payments for each lease.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Intangible Assets</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s indefi</font><font style='font-family:Times New Roman;font-size:10pt;' >nite-lived intangible assets include FCC broadcast licenses in its </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment and billboard permits in its Americas outdoor advertising segment. The Company&#8217;s indefinite-lived intangible assets are not subject to amortization, but are tested for impairme</font><font style='font-family:Times New Roman;font-size:10pt;' >nt at least annually. The Company tests for possible impairment of indefinite-lived intangible assets whenever events or changes in circumstances, such as a significant reduction in operating cash flow or a dramatic change in the manner for which the asset</font><font style='font-family:Times New Roman;font-size:10pt;' > is intended to be used indicate that the carrying amount of the asset may not be recoverable.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company performs its annual impairment test for its FCC licenses and permits using a direct valuation technique as prescribed in ASC&#160;805-20-S99. The Compan</font><font style='font-family:Times New Roman;font-size:10pt;' >y engages </font><font style='font-family:Times New Roman;font-size:10pt;' >Corporate Valuation Consulting LLC (formerly </font><font style='font-family:Times New Roman;font-size:10pt;' >a </font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Financial Consulting Practice)</font><font style='font-family:Times New Roman;font-size:10pt;' >, a third party valuation firm, to assist the Company in the development of these assumptions and the Company&#8217;s determination of the fair value of its FCC licens</font><font style='font-family:Times New Roman;font-size:10pt;' >es and permits.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other intangible assets include definite-lived intangible assets and permanent easements. The Company&#8217;s definite-lived intangible assets include primarily transit and street furniture contracts, talent and representation contracts, </font><font style='font-family:Times New Roman;font-size:10pt;' >customer and advertiser relationships, and site-leases, all of which are amortized over the respective lives of the agreements, or over the period of time the assets are expected to contribute directly or indirectly to the Company&#8217;s future cash flows. The</font><font style='font-family:Times New Roman;font-size:10pt;' > Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at cost. Permanent easements are indefinite-lived intangible assets which include certain rights to us</font><font style='font-family:Times New Roman;font-size:10pt;' >e real property not owned by the Company.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of other intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets</font><font style='font-family:Times New Roman;font-size:10pt;' > are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Goodwill</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At least annually, the Company performs its impairment</font><font style='font-family:Times New Roman;font-size:10pt;' > test for each reporting unit&#8217;s goodwill. The Company uses a discounted cash flow model to determine if the carrying value of the reporting unit, including goodwill, is less than the fair value of the reporting unit. The Company identified its reporting u</font><font style='font-family:Times New Roman;font-size:10pt;' >nits in accordance with ASC&#160;350-20-55. The U.S. radio markets are aggregated into a single reporting unit and the Company&#8217;s U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test. The Comp</font><font style='font-family:Times New Roman;font-size:10pt;' >any also determined that within its Americas outdoor segment, Canada constitutes a separate reporting unit and each country in its International outdoor segment constitutes a separate reporting unit. The Company had no impairment of goodwill in 2015 and 2</font><font style='font-family:Times New Roman;font-size:10pt;' >014. The Company recognized a non-cash impairment charge to goodwill of $</font><font style='font-family:Times New Roman;font-size:10pt;' >10.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million based on declining future cash flows expected in one country in the International outdoor segment for 2013.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nonconsolidated Affiliates</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In general, investments in which t</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company owns 20&#160;percent to 50&#160;percent of the common stock or otherwise exercises significant influence over the investee are accounted for under the equity method. The Company does not recognize gains or losses upon the issuance of securities by any of</font><font style='font-family:Times New Roman;font-size:10pt;' > its equity method investees. The Company reviews the value of equity method investments and records impairment charges in the statement of operations as a component of &#8220;Equity in earnings (loss) of nonconsolidated affiliates&#8221; for any decline in value tha</font><font style='font-family:Times New Roman;font-size:10pt;' >t is determined to be other-than-temporary.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Other Investments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other investments are composed primarily of equity securities. Securities for which fair value is determinable are classified as available-for-sale or trading and are carried at fair value bas</font><font style='font-family:Times New Roman;font-size:10pt;' >ed on quoted market prices. Securities are carried at historical cost when quoted market prices are unavailable. The net unrealized gains or losses on the available-for-sale securities, net of tax, are reported in accumulated other comprehensive loss as </font><font style='font-family:Times New Roman;font-size:10pt;' >a component of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company periodically assesses the value of available-for-sale and non-marketable securities and records impairment charges in the statement of comprehensive loss for any decline in value</font><font style='font-family:Times New Roman;font-size:10pt;' > that is determined to be other-than-temporary. The average cost method is used to compute the realized gains and losses on sales of equity securities. Based on these assessments, the Company concluded that other-than-temporary impairments existed at Dece</font><font style='font-family:Times New Roman;font-size:10pt;' >mber&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and recorded a noncash impairment charge of $</font><font style='font-family:Times New Roman;font-size:10pt;' >5.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million during the year ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >. Such charge is recorded on the statement of comprehensive loss in &#8220;Gain (loss) on investments, net&#8221;. There were no impairment charges duri</font><font style='font-family:Times New Roman;font-size:10pt;' >ng the years ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Derivative Instruments and Hedging Activities</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Prior to the expiration of the Company&#8217;s interest rate swap agreement on September&#160;30, 2013, the provisions of ASC&#160;815-10 required the Company to recognize</font><font style='font-family:Times New Roman;font-size:10pt;' > it as either an asset or liability in the consolidated balance sheet at </font><font style='font-family:Times New Roman;font-size:10pt;' >fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship, and fur</font><font style='font-family:Times New Roman;font-size:10pt;' >ther, on the type of hedging relationship. The interest rate swap was designated and qualified as a hedging instrument, and was characterized as a cash flow hedge. The Company formally documented all relationships between hedging instruments and hedged i</font><font style='font-family:Times New Roman;font-size:10pt;' >tems, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company formally assessed, both at inception and at least quarterly thereafter prior to expiration, whether the derivatives that were used in he</font><font style='font-family:Times New Roman;font-size:10pt;' >dging transactions were highly effective in offsetting changes in either the fair value or cash flows of the hedged item.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Financial Instruments</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Due to their short maturity, the carrying amounts of accounts and notes receivable, accounts payable, accrued l</font><font style='font-family:Times New Roman;font-size:10pt;' >iabilities, and short-term borrowings approximated their fair values at December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Income Taxes</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for income taxes using the liability method. Under this method, deferred tax assets and liabilities are determined</font><font style='font-family:Times New Roman;font-size:10pt;' > based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be r</font><font style='font-family:Times New Roman;font-size:10pt;' >ealized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely than not that some portion or the entire asset will not be realized. Generally all earnings from the Company&#8217;s foreign operations are pe</font><font style='font-family:Times New Roman;font-size:10pt;' >rmanently reinvested and not distributed. The Company has not provided U.S. federal income taxes for temporary differences with respect to investments in foreign subsidiaries, which at December 31, 2015 currently result in tax basis amounts greater than th</font><font style='font-family:Times New Roman;font-size:10pt;' >e financial reporting basis. It is not apparent that these unrecognized deferred tax assets will reverse in the foreseeable future. If any excess cash held by our foreign subsidiaries were needed to fund operations in the United States, we could presentl</font><font style='font-family:Times New Roman;font-size:10pt;' >y repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of significant deficits, as calculated for tax law purposes, in our foreign earnings and profits, which gives us flexibility to make future cash distributions</font><font style='font-family:Times New Roman;font-size:10pt;' > as non-taxable returns of capital. We regularly review our tax liabilities on amounts that may be distributed in future periods and provide for foreign withholding and other current and deferred taxes on any such amounts. The determination of the amount</font><font style='font-family:Times New Roman;font-size:10pt;' > of federal income taxes, if any, that might become due in the event that our foreign earnings are distributed is not practicable</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Revenue Recognition</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > revenue is recognized as advertisements or programs are broadcast and is generally billed monthly. </font><font style='font-family:Times New Roman;font-size:10pt;' >Outdoor advertising contracts typically cover periods of a few weeks up to one year and are generally billed monthly. Revenue for outdoor advertising space rental is recognized ratably over the term of the contract. Advertising revenue is reported net of</font><font style='font-family:Times New Roman;font-size:10pt;' > agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for the Company&#8217;s media and entertainment and outdoor operations. Payments received in advance of being earned are recorded as deferred i</font><font style='font-family:Times New Roman;font-size:10pt;' >ncome. </font><font style='font-family:Times;font-size:10pt;' >Revenue arrangements may contain multiple products and services and revenues are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognition criteria for the specific unit o</font><font style='font-family:Times;font-size:10pt;' >f accounting.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:91.5pt;' ><td colspan='9' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter transactions represent the exchange of advertising spots or display space for merchandise, services or other assets. These transactions are recorded at the estimated fair market value of the advertising spots or display space or the fair value of the merchandise or services received, whichever is most readily determinable. Revenue is recognized on barter and trade transactions when the advertisements are broadcasted or displayed. Expenses are recorded ratably over a period that estimates when the merchandise, service or other assets received is utilized, or when the event occurs. Barter and trade revenues and expenses from continuing operations are included in consolidated revenue and selling, general and administrative expenses, respectively. Barter and trade revenues and expenses from continuing operations were as follows:</font></td></tr><tr style='height:15pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In millions)</font></td><td colspan='8' rowspan='1' style='width:222pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:222pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:13.5pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade revenues</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 132.5 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77.6 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 71.3 </font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110.9 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74.7 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 65.5 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Advertising Expense</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company records advertising expense as it is incurred. Advertising expenses </font><font style='font-family:Times New Roman;font-size:10pt;' >were </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >129.1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >103.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >133.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Under the</font><font style='font-family:Times New Roman;font-size:10pt;' > fair value recognition provisions of ASC&#160;718-10, share-based compensation cost is measured at the grant date based on the fair value of the award. For awards that vest based on service conditions, this cost is recognized as expense on a straight-line bas</font><font style='font-family:Times New Roman;font-size:10pt;' >is over the vesting period. For awards that will vest based on market or performance conditions, this cost will be recognized when it becomes probable that the performance conditions will be satisfied. Determining the fair value of share-based awards at t</font><font style='font-family:Times New Roman;font-size:10pt;' >he grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company does not have any equity incentive plans under which it grants stock awards to employees. Employees of subsidiaries of the Co</font><font style='font-family:Times New Roman;font-size:10pt;' >mpany receive equity awards from Parent&#8217;s equity incentive plan or CCOH&#8217;s equity incentive plan.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Foreign Currency</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Results of operations for foreign subsidiaries and foreign equity investees are translated into U.S. dollars using the average exchange rates</font><font style='font-family:Times New Roman;font-size:10pt;' > during the year. The assets and liabilities of those subsidiaries and investees are translated into U.S. dollars using the exchange rates at the balance sheet date. The related translation adjustments are recorded in a separate component of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit, &#8220;Accumulated other comprehensive loss&#8221;. Foreign currency transaction gains and losses are included in operations.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >New Accounting Pronouncements</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first quarter of 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the Company adopted the Financial Accounting Standards Board&#8217;s (&#8220;FASB&#8221;) ASU No. 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-0</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360), </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >This update provides guidance for the recognition, measurement and disclosure of discontinued operations. The adoption of this guidance did not have a material effe</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ct on the Company&#8217;s consolidated financial statements.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the first</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > quarter of 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the FASB issued ASU No. 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >02</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Consolidation (Topic 810), Amendments to the Consolidation Analysis</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This new standard </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >eliminates the deferral of FAS 167, which has</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > allowed entities with interest in certain investment funds to follow the previous consolidation guidance in FIN 46(R) and makes other changes to both the variable interest model and the voting model</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. The standard is effective for annual periods</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, and for</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > i</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >nterim periods within those annual periods, beginning after December 15, 2015. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operations.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the second</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > quarter of 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, t</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >he</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > FASB issued </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ASU No. 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >-</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >03</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >requires entities to present debt issuance costs related to a recognized debt liability as a direct deductio</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >n from the carrying amount of that direct debt liability. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The standard is effective for annual periods</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, and for</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > interim periods within those annual periods, beginning after December 15, 2015. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company will adopt this standard in the first quarter of 2</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >016.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the third quarter of 2015, the FASB issued </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ASU 2015-14, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > provides a one-year deferral of the effective date for ASU No. 2014-09, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Revenue from </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Contracts with Customers</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. ASU No. 2014-09 provides guidance for the recognition, measurement and disclosure of revenue resulting from contracts with customers and will supersede virtually all of the current revenue recognition guidance under U.S. GAAP. T</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >he standard is effective for the first interim period within annual reporting periods beginning after December 15, 201</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. The Company is currently evaluating the impact of the provisions of this new standard on its financial position and results of operati</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ons.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the third quarter of 2015, the FASB issued ASU No. 2015-16, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >eliminates the requirement for an acquirer in a business combination to</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >a</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ccount for measurement-period adjustments retrospectively.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Instead, acquirers must recognize measurement-period adjustments during the period in which</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >they determine the amounts, including the effect on earnings of any amounts they would have</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >recorded in p</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >revious periods if the accounting had been completed at the acquisition date.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >standard</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > is effective for fiscal years beginning after</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >15, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015, and interim periods within those fiscal years. </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company is currently evaluating the impact of the</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > provisions of this new standard on its financial position and results of operations.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the fourth quarter of 2015, the Company adopted FASB&#8217;s ASU No. 2015-17, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >requ</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >.</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >adoption of this guidance did not have a material effect on the Company&#8217;s consolidated financial statements.</font></p><p style='text-align:justify;line-height:12pt;' ></p></div> 17980000 0 0 1495294000 3701000 10385000 27710000 605771000 0 5744000 11600000 8100000 34300000 0 313514000 -1013000 -1527000 4870000 4202187000 30900000 597382000 12.45 148200000 0.075 false -703669000 0 2335584000 1661697000 -153284000 0.00375 32602000 -8696635000 14765000 Yes 26386000 Payable semi-annually in arrears on March 15 and September 15 of each year Non-accelerated Filer 0 P03Y10M 600000 129375000 -8200000 14325000 1206727000 197332000 702000 418194000 -595882000 0.005 7231222000 5434000 50934000 135161000 -50165000 655658000 40027000 15808000 23734000 0 -4693000 Payable semi-annually in arrears on June 15 and December 15 of each year 285000 0.1125 2413483000 2215000 30871000 1750000000 735750000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Future Maturities of Long-term Debt</font></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Future maturities of long-term debt at December 31, 2015 are as follows:</font></td></tr><tr style='height:7.5pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(in thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 197,332 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,394 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 914,244 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,300,278 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,425,502 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,997,455 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 21,073,205 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >(1)</font>}<font style='font-family:Times New Roman;font-size:10pt;' > Excludes purchase accounting adjustments and original issue discount of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >204.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million, which is amortized through interest expense over the life of the underlying debt obligations.</font></p></div> 79758000 0 4466000 0.14 233254000 -42789000 <div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 7 &#8211; INCOME TAXES</font></td></tr><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Significant components of the provision for income tax benefit (expense) are as follows:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:233.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:233.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - Federal</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (31)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (503)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,586 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - foreign</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (46,188)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (27,256)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,466)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (12,890)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,193 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,527 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total current benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (59,109)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,566)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (36,353)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - Federal</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (30,719)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29,284)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 126,905 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - foreign</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,269 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,308 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,932 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,398)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,947)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 22,333 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (27,848)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,923)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 158,170 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (86,957)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td></tr></table></div> 914244000 0 1449000 -20353000 8997455000 -4421000 -856022000 121574000 0 24009000 452957000 417883000 34889000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Property, Plant and Equipment</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method at rates that, in the opinion of management, are adequate to allo</font><font style='font-family:Times New Roman;font-size:10pt;' >cate the cost of such assets over their estimated useful lives, which are as follows:</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Buildings and improvements &#8211; 10 to 39 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Structures &#8211; 3 to 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Towers, transmitters and studio equipment &#8211; 5 to </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' > years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Furniture and other equipment &#8211; 2 to</font><font style='font-family:Times New Roman;font-size:10pt;' > 20 years</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > Leasehold improvements &#8211; shorter of economic life or lease term assuming renewal periods, if appropriate</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >For assets associated with a lease or contract, the assets are depreciated at the shorter of the economic life or the lease or contract ter</font><font style='font-family:Times New Roman;font-size:10pt;' >m, assuming renewal periods, if appropriate. Expenditures for maintenance and repairs are charged to operations as incurred, whereas expenditures for renewal and betterments are capitalized.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of property, plant, a</font><font style='font-family:Times New Roman;font-size:10pt;' >nd equipment whenever events and circumstances indicate that depreciable assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determ</font><font style='font-family:Times New Roman;font-size:10pt;' >ined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Assets and businesses are classified as held for sale if their carrying amount will be recovered or settled principally through a sale transaction</font><font style='font-family:Times New Roman;font-size:10pt;' > rather than through continuing use. The asset or business must be available for immediate sale and the sale must be highly probable within one year.</font></p></div> <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Leases</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Most of the Company&#8217;s outdoor advertising structures are located on leased land. Americas outdoor</font><font style='font-family:Times New Roman;font-size:10pt;' > land leases are typically paid in advance for periods ranging from one to 12&#160;months. International outdoor land leases are paid both in advance and in arrears, for periods ranging from one to 12&#160;months. Most international street furniture display faces </font><font style='font-family:Times New Roman;font-size:10pt;' >are operated through contracts with municipalities for up to 20&#160;years. The leased land and street furniture contracts often include a percent of revenue to be paid along with a base rent payment. Prepaid land leases are recorded as an asset and expensed </font><font style='font-family:Times New Roman;font-size:10pt;' >ratably over the related rental term and rent payments in arrears are recorded as an accrued liability.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company has entered into leases for tower sites</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >for most of its broadcasting locations. Tower site leases are typically paid monthly in advance, a</font><font style='font-family:Times New Roman;font-size:10pt;' >nd have 30-year lease terms including annual rent escalations. Most tower site leases are operating leases, and operating lease expense is recognized straight-line based on the minimum </font><font style='font-family:Times New Roman;font-size:10pt;' >lease payments for each lease.</font></p></div> 2600000 0 27588000 0 667900000 1999815000 1989250000 944576000 13459000 -25237000 4902000 11600000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Principles of Consolidation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are en</font><font style='font-family:Times New Roman;font-size:10pt;' >tities for which the Company has a controlling financial interest or is the primary beneficiary. Investments in companies in which the Company owns </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >percent to </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >percent of the voting common stock or otherwise exercises significant influence over opera</font><font style='font-family:Times New Roman;font-size:10pt;' >ting and financial policies of the Company are accounted for using the equity method of accounting. All significant intercompany accounts have bee</font><font style='font-family:Times New Roman;font-size:10pt;' >n eliminated in consolidation.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Certain prior period amounts have been reclassified to conform to the </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >presentation</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >Included in International Outdoor Direct operating expenses and Selling, general and administrative expenses are $8.2 million and $3.2 million, respectively, recorded in the fourth quarter of 2015 to correct for accounting errors included in</font><font style='font-family:Times New Roman;font-size:10pt;' > the results for our Netherlands subsidiary reported in prior years. Such corrections are not considered to be material to current year </font><font style='font-family:Times New Roman;font-size:10pt;' >or prior year financial results</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;color:#FF0000;' > </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company is the beneficiary of two trusts created to comply with Federal Communic</font><font style='font-family:Times New Roman;font-size:10pt;' >ations Commission (&#8220;FCC&#8221;) ownership rules.&#160; The radio stations owned by the trusts are managed by independent trustees.&#160; The trustees are marketing these stations for sale, and the stations will have to be sold unless any stations may be owned by the Compa</font><font style='font-family:Times New Roman;font-size:10pt;' >ny under then-current FCC rules, in which case the trusts will be terminated with respect to such stations.&#160; The trust agreements stipulate that the Company must fund any operating shortfalls of the trust activities, and any excess cash flow generated by t</font><font style='font-family:Times New Roman;font-size:10pt;' >he trusts is distributed to the Company. &#160;The Company is also the beneficiary of proceeds from the sale of stations held in the trusts.&#160; The Company consolidates the trusts in accordance with ASC&#160;810-10, which requires an enterprise involved with variable </font><font style='font-family:Times New Roman;font-size:10pt;' >interest entities to perform an analysis to determine whether the enterprise&#8217;s variable interest or interests give it a controlling financial interest in the variable interest entity, as the trusts were determined to be a variable interest entity and the C</font><font style='font-family:Times New Roman;font-size:10pt;' >ompany is the primary beneficiary under the trusts.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> -2886000 0.5 5150000000 P6Y4M 7.54 300116000 0 1094345000 4200000 0 77600000 48750000 8181000 1676125000 238313000 834416000 1871000 2066622000 -15841000 -14686000 110900000 132500000 1350000 -902000 1300000000 -227686000 1585000 47574000 991117000 0 0 1630154000 0 0.1075 0 -10606681000 0 0.0208 0.0219 4.92 4.27 2016-02-04 22998000 0.09 -364002000 8520000 300000000 13898000 15200000 5533000 0 -308590000 0.081 -22333000 0.065 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Advertising Expense</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company records advertising expense as it is incurred. Advertising expenses </font><font style='font-family:Times New Roman;font-size:10pt;' >were </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >129.1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >103.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >133.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p></div> 40027000 916061000 0 2022-09-15 37661000 0 19239000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='16' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents the changes in the carrying amount of goodwill in each of the Company&#8217;s reportable segments:</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >iHM</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,270,521 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 585,227 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 264,907 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,532 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,202,187 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,900 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 299 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,199 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (653)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (32,369)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,022)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,288,481 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 584,574 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 232,538 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,831 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,187,424 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,998 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,998 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (709)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,644)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (20,353)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Assets held for sale</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (49,182)</font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (49,182)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,288,481 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 534,683 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 223,892 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,831 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,128,887 </font></td></tr></table></div> 8.39 0.065 27315000 0 -9416000 1805496000 -114906000 -22410000 -7065000 165000 5000000000 275000000 0.03 -2412000 1585000 24176000 0 0 314878000 7152000 1599859000 440605000 26986000 0 792400000 58000 579000 416188000 177249000 13848000 2019-01-30 2020-03-15 0 0 -7113000 224140000 27822000 10400000 0 16715000 24367000 18247000 0 -1259000 682700000 -32768000 331000 42797000 <div><table style='border-collapse:collapse;' ><tr style='height:27pt;' ><td colspan='5' rowspan='1' style='width:536.25pt;text-align:justify;border-color:Black;min-width:536.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As acquisitions and dispositions occur in the future, amortization expense may vary. The following table presents the Company&#8217;s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:</font></td></tr><tr style='height:8.25pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60pt;text-align:justify;border-color:Black;min-width:60pt;' ></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:left;border-color:Black;min-width:45pt;' ></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:13.5pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:center;border-color:Black;min-width:45pt;' ></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 220,166 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 197,444 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 127,439 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 44,030 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2020</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,763 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr></table></div> -11682390000 2135342000 -0.08 18887000 1364285000 10923000 171271000 536255000 5189000 2022-11-15 7508000 238394000 599178000 0 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Other assets&#8221; as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:justify;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments in, and advances to, nonconsolidated affiliates</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,710 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other investments</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 61,128 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,247 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Notes receivable</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 156 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 242 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid expenses</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,932 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,082 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 115,215 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 130,267 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,025 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,822 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Prepaid rent</font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74,114 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 56,430 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-qualified plan assets</font></td><td style='width:9pt;text-align:justify;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,385 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,568 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font></td><td style='width:9pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,637 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,914 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other assets </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 330,302 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 289,065 </font></td></tr></table></div> 315564000 0 -210628000 1579514000 2841000 0 0.055 -11074000 2101132000 900000 1554898000 -2201000 17131000 42797000 <div><table style='border-collapse:collapse;' ><tr style='height:24pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 5 &#8211; LONG-TERM DEBT</font></td></tr><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-term debt at December 31, 2015 and 2014 consisted of the following:</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivables Based Credit Facility Due 2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 230,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,274,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Revolving Credit Facility Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Secured Subsidiary Debt</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 25,228 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,257 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Consolidated Secured Debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,830,043 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,575,294 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >14.0% Senior Notes Due 2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,695,097 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,661,697 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.0% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 730,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 730,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,150,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other Subsidiary Debt</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 165 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,024 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase accounting adjustments and original issue discount </font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (204,611)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (234,897)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,868,594 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,326,018 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: current portion</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 181,512 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,604 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total long-term debt</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,687,082 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,322,414 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:10pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s weighted average interest rates at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > were 8.5</font><font style='font-family:Times New Roman;font-size:10pt;' >% and </font><font style='font-family:Times New Roman;font-size:10pt;' >8.1</font><font style='font-family:Times New Roman;font-size:10pt;' >%, respectively. The aggregate market value of the Company&#8217;s debt based on market prices for which quotes were available was approximately </font><font style='font-family:Times New Roman;font-size:10pt;' >$15.2 </font><font style='font-family:Times New Roman;font-size:10pt;' >billion</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >19.7</font><font style='font-family:Times New Roman;font-size:10pt;' > billion at </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively. Under the fair value hierarchy established by ASC 820-10-35, the fair market value of the Company&#8217;s debt is classified as either Level 1 or Level 2.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='6' rowspan='1' style='width:458.25pt;text-align:left;border-color:Black;min-width:458.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company had senior secured credit facilities consisting of:</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:7.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:80.25pt;text-align:left;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;border-color:Black;min-width:277.5pt;' ></td><td style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan B</font></td><td style='width:80.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 916,061 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan C</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/29/2016</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,161 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan D</font></td><td style='width:80.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1/30/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,000,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:292.5pt;text-align:left;border-color:Black;min-width:292.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term Loan E</font></td><td style='width:80.25pt;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7/30/2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:277.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:277.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Senior Secured Credit Facilities</font></td><td style='width:80.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:80.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,231,222 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > is the primary borrower under the senior secured credit facilities, except that certain of its domestic restricted subsidiaries are co-borrowers under a portion of the term loan facilities</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Interest Rate and Fees</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Borrowings under </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities bear interest at a rate equal to an applicable margin plus, at </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > option, either (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >a base rate determined by reference to the higher of (A)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >t</font><font style='font-family:Times New Roman;font-size:10pt;' >he prime lending rate publicly announced by the administrative agent or (B)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >the Federal funds effective rate from time to time plus </font><font style='font-family:Times New Roman;font-size:10pt;' >0.50</font><font style='font-family:Times New Roman;font-size:10pt;' >%, or (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >a Eurocurrency rate determined by reference to the costs of funds for deposits for the interest period releva</font><font style='font-family:Times New Roman;font-size:10pt;' >nt to such borrowing adjusted for certain additional costs.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The margin percentages applicable to the term loan facilities are the following percentages per annum:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >with respect to loans under the </font><font style='font-family:Times New Roman;font-size:10pt;' >Term Loan&#160;D</font><font style='font-family:Times New Roman;font-size:10pt;' >, (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >5.75</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of base rate loans and (</font><font style='font-family:Times New Roman;font-size:10pt;' >ii)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >6.75</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of Eurocurrency rate loans; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >with respect to loans under the </font><font style='font-family:Times New Roman;font-size:10pt;' >Term Loan&#160;E</font><font style='font-family:Times New Roman;font-size:10pt;' >, (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >6.5</font><font style='font-family:Times New Roman;font-size:10pt;' >0</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of base rate loans and (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >7.5</font><font style='font-family:Times New Roman;font-size:10pt;' >0</font><font style='font-family:Times New Roman;font-size:10pt;' >% in the case of Eurocurrency rate loans</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The margin percentages are subject to adjustment based upon </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > leverage ratio.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Collateral and Guarantees</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The senior secured credit facilities are guaranteed by </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and each of </font><font style='font-family:Times New Roman;font-size:10pt;' >its</font><font style='font-family:Times New Roman;font-size:10pt;' > existing and future material wholly-owned domestic restricted subsidiaries, subject to certain exceptions.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >All obligations under the senior secured credit facilities, and the guarantees of those obligations, are secured, subject to permitted liens, inclu</font><font style='font-family:Times New Roman;font-size:10pt;' >ding prior liens permitted by the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >legacy</font><font style='font-family:Times New Roman;font-size:10pt;' > notes, and other exceptions, by:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >a lien on </font><font style='font-family:Times New Roman;font-size:10pt;' >our</font><font style='font-family:Times New Roman;font-size:10pt;' > capital stock</font><font style='font-family:Times New Roman;font-size:10pt;' >;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >100</font><font style='font-family:Times New Roman;font-size:10pt;' >% of the capital stock of any future material wholly-owned domestic license subsidiary that is not a &#8220;Restricted Subsidiary&#8221; under the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >legacy</font><font style='font-family:Times New Roman;font-size:10pt;' > notes;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >certain assets that do not constitute &#8220;principal pro</font><font style='font-family:Times New Roman;font-size:10pt;' >perty&#8221; (as defined in the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >legacy</font><font style='font-family:Times New Roman;font-size:10pt;' > notes);</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >certain specified assets of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and the guarantors that constitute &#8220;principal property&#8221; (as defined in the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >legacy</font><font style='font-family:Times New Roman;font-size:10pt;' > notes) securing obligations under the senior secured credit facilities up to the maximum amount permitted to be secured by such assets without requiring equal and ratable security under the indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >legacy</font><font style='font-family:Times New Roman;font-size:10pt;' > notes; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >a lien on the accounts receivable and related assets securing </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > receivables based credit facility that is junior to the lien securing </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > obligations unde</font><font style='font-family:Times New Roman;font-size:10pt;' >r such credit facility.</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants and Events of Default</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he senior secured credit facilities include negative covenants that, subject to significant exceptions, limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >incur additional indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >create liens on assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in mergers, consolidations, liquidations and dissolutions;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >sell assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >pay dividends and distributions or repurc</font><font style='font-family:Times New Roman;font-size:10pt;' >hase </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > capital stock;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >make investments, loans, or advances;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >prepay certain junior indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in certain transactions with affiliates;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >amend material agreements governing certain junior indebtedness; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >change lines</font><font style='font-family:Times New Roman;font-size:10pt;' > of business.</font></li></ul></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Receivables Based Credit Facility</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >there were </font><font style='font-family:Times New Roman;font-size:10pt;' >borrowings</font><font style='font-family:Times New Roman;font-size:10pt;' > of $230.0 million</font><font style='font-family:Times New Roman;font-size:10pt;' > outstanding under </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > receivables based credit facility.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The receivables based credit facility provides revolving credit </font><font style='font-family:Times New Roman;font-size:10pt;' >commitments of $</font><font style='font-family:Times New Roman;font-size:10pt;' >535.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million, subject to a borrowing base. The borrowing base at any time equals </font><font style='font-family:Times New Roman;font-size:10pt;' >90</font><font style='font-family:Times New Roman;font-size:10pt;' >% of the eligible accounts receivable of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and certain of its subsidiaries. The receivables based credit facility includes a let</font><font style='font-family:Times New Roman;font-size:10pt;' >ter of credit sub-facility and a </font><font style='font-family:Times New Roman;font-size:10pt;' >swingline</font><font style='font-family:Times New Roman;font-size:10pt;' > loan sub-facility.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > and certain subsidiary borrowers are the borrowers under the receivables based credit facility. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > has the ability to designate one or</font><font style='font-family:Times New Roman;font-size:10pt;' > more of its restricted subsidiaries as borrowers under the receivables based credit facility. The receivables based credit facility loans </font><font style='font-family:Times New Roman;font-size:10pt;' >are available in U.S. dollars </font><font style='font-family:Times New Roman;font-size:10pt;' >and letters of credit are available in </font><font style='font-family:Times New Roman;font-size:10pt;' >a variety of currencies including U.S. dollars, </font><font style='font-family:Times New Roman;font-size:10pt;' >Euros, Pounds Sterling, and Canadian dollars.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Interest Rate and Fees</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Borrowings under the receivables based credit facility bear interest at a rate per annum equal to an applicable margin plus, at </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > option, either (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)&#160;a base</font><font style='font-family:Times New Roman;font-size:10pt;' > rate determined by reference to the highest of (a)&#160;the prime rate of Citibank, N.A. and (b)&#160;the Federal Funds rate plus </font><font style='font-family:Times New Roman;font-size:10pt;' >0.50</font><font style='font-family:Times New Roman;font-size:10pt;' >% or (ii)&#160;a Eurocurrency rate determined by reference to the rate (adjusted for statutory reserve requirements for Eurocurrency lia</font><font style='font-family:Times New Roman;font-size:10pt;' >bilities) for Eurodollar deposits for the interest period relevant to such borrowing. The applicable margin for borrowings under the receivables based credit facility ranges from </font><font style='font-family:Times New Roman;font-size:10pt;' >1.50</font><font style='font-family:Times New Roman;font-size:10pt;' >% to </font><font style='font-family:Times New Roman;font-size:10pt;' >2.00</font><font style='font-family:Times New Roman;font-size:10pt;' >% for Eurocurrency borrowings and from </font><font style='font-family:Times New Roman;font-size:10pt;' >0.50</font><font style='font-family:Times New Roman;font-size:10pt;' >% to </font><font style='font-family:Times New Roman;font-size:10pt;' >1.00</font><font style='font-family:Times New Roman;font-size:10pt;' >% for base-r</font><font style='font-family:Times New Roman;font-size:10pt;' >ate borrowings, depending on average </font><font style='font-family:Times New Roman;font-size:10pt;' >daily </font><font style='font-family:Times New Roman;font-size:10pt;' >excess availability under the receivables based credit facility during the prior fiscal quarter.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In addition to paying interest on outstanding principal under the receivables based credit facility, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > is required to pay a commitment fee to the lenders under the receivables based credit facility in respect of the unutilized commitments thereunder. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The commitment fee rate </font><font style='font-family:Times New Roman;font-size:10pt;' >ranges from</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >0.25</font><font style='font-family:Times New Roman;font-size:10pt;' >% </font><font style='font-family:Times New Roman;font-size:10pt;' >to</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >0.375</font><font style='font-family:Times New Roman;font-size:10pt;' >% per annum</font><font style='font-family:Times New Roman;font-size:10pt;' > dependent upon average unused</font><font style='font-family:Times New Roman;font-size:10pt;' > commitments during the prior quarter</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > must also pay customary letter of credit fees.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Maturity</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Borrowings under the receivables based credit facility will mature, and lending commitments thereunder will terminate, on the </font><font style='font-family:Times New Roman;font-size:10pt;' >fifth anniversary of the effectiveness of the receivables based credit facility</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > which is</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >December&#160;24, 2017</font><font style='font-family:Times New Roman;font-size:10pt;' >, provided that, (a)&#160;the maturity date will be </font><font style='font-family:Times New Roman;font-size:10pt;' >October&#160;31, 2015</font><font style='font-family:Times New Roman;font-size:10pt;' > if on October&#160;30, 2015, greater than $</font><font style='font-family:Times New Roman;font-size:10pt;' >500.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million in aggregate principal amount is o</font><font style='font-family:Times New Roman;font-size:10pt;' >wing under certain of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > term loan credit facilities, (b)&#160;the maturity date will be </font><font style='font-family:Times New Roman;font-size:10pt;' >May&#160;3, 2016</font><font style='font-family:Times New Roman;font-size:10pt;' > if on May&#160;2, 2016 greater than $</font><font style='font-family:Times New Roman;font-size:10pt;' >500.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million aggregate principal amount of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > 10.75% senior cash pa</font><font style='font-family:Times New Roman;font-size:10pt;' >y notes due 2016 and 11.00%/11.75% senior toggle notes due 2016 are outstanding and (c)&#160;in the case of any debt under clauses (a)&#160;and (b)&#160;that is amended or refinanced in any manner that extends the maturity date of such debt to a date that is on or before</font><font style='font-family:Times New Roman;font-size:10pt;' > the date that is five years after the effectiveness of the receivables based credit facility, the maturity date will be one day prior to the maturity date of such debt after giving effect to such amendment or refinancing if greater than $</font><font style='font-family:Times New Roman;font-size:10pt;' >500,000,000</font><font style='font-family:Times New Roman;font-size:10pt;' > in ag</font><font style='font-family:Times New Roman;font-size:10pt;' >gregate principal amount of such debt is outstanding</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Guarantees and Security</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The facility is guaranteed by, subject to certain exceptions, the guarantors of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities. All obligations under the rece</font><font style='font-family:Times New Roman;font-size:10pt;' >ivables based credit facility, and the guarantees of those obligations, are secured by a perfected security interest in all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > and all of the guarantors&#8217; accounts receivable and related assets and proceeds thereof that is s</font><font style='font-family:Times New Roman;font-size:10pt;' >enior to the security interest of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities in such accounts receivable and related assets and proceeds thereof, subject to permitted liens, including prior liens permitted by the indenture governing </font><font style='font-family:Times New Roman;font-size:10pt;' >certain of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > Legacy Notes,</font><font style='font-family:Times New Roman;font-size:10pt;' > and certain exceptions.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants and Events of Default</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >T</font><font style='font-family:Times New Roman;font-size:10pt;' >he receivables based credit facility includes negative covenants that, subject to significant exceptions, limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >incur additional indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >create liens on assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in mergers, consolidations, liquidations and dissolutions;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >sell assets;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >pay dividends and </font><font style='font-family:Times New Roman;font-size:10pt;' >distributions or repurchase capital stock;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >make investments, loans, or advances;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >prepay certain junior indebtedness;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >engage in certain transactions with affiliates;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >amend material agreements governing certain junior indebtedness; and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >change lines of busine</font><font style='font-family:Times New Roman;font-size:10pt;' >ss.</font></li></ul></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Priority Guarantee Notes</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company had outstanding Priority Guarantee Notes consisting of:</font></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2019</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >12/15/2019</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on June 15 and December 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,999,815 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,750,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25% Priority Guarantee Notes due 2021</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/1/2021</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11.25%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually on March 1 and September 1 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 575,000 </font></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0% Priority Guarantee Notes due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >9.0%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,000,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,000,000 </font></td></tr><tr style='height:42pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.625% Priority Guarantee Notes due 2023</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2023</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >10.625%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 950,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Priority Guarantee Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,274,815 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,324,815 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Guarantees and Security</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Priority Guarantee Notes are </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior obligations and are fully and unconditionally guaranteed, jointly and severally, on a senior basis by the guarantors named in the indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Priority </font><font style='font-family:Times New Roman;font-size:10pt;' >Guarantee Notes and the guarantors&#8217; obligations under the guarantees are secured by (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)&#160;a lien on (a)&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >our</font><font style='font-family:Times New Roman;font-size:10pt;' > capital stock</font><font style='font-family:Times New Roman;font-size:10pt;' > and (b)&#160;certain property and related assets that do not constitute &#8220;principal property&#8221;</font><font style='font-family:Times New Roman;font-size:10pt;' > (as defined </font><font style='font-family:Times New Roman;font-size:10pt;' >in the indenture governing certain Legacy Notes of </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >ours</font><font style='font-family:Times New Roman;font-size:10pt;' >), </font><font style='font-family:Times New Roman;font-size:10pt;' >in each case equal in priority to the liens securing the obligations under </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facilities </font><font style='font-family:Times New Roman;font-size:10pt;' >subject to certain exceptions </font><font style='font-family:Times New Roman;font-size:10pt;' >and (ii</font><font style='font-family:Times New Roman;font-size:10pt;' >)&#160;a lien on the accounts receivable and related assets securing </font><font style='font-family:Times New Roman;font-size:10pt;' >our</font><font style='font-family:Times New Roman;font-size:10pt;' > receivables based credit facility junior in priority to the lien securing </font><font style='font-family:Times New Roman;font-size:10pt;' >our</font><font style='font-family:Times New Roman;font-size:10pt;' > obligations thereunder, subject to certain exceptions. In addition </font><font style='font-family:Times New Roman;font-size:10pt;' >to the collateral granted to secure the 9% </font><font style='font-family:Times New Roman;font-size:10pt;' >Priority Guarantee Notes due 2019, the collateral agent and the trustee for the 9% </font><font style='font-family:Times New Roman;font-size:10pt;' >Priority Guarantee Notes due 2019 entered into an agreement with the administrative agent for the lenders under the senior secured credi</font><font style='font-family:Times New Roman;font-size:10pt;' >t facilities to turn over to the trustee under the 9% </font><font style='font-family:Times New Roman;font-size:10pt;' >Priority Guarantee Notes due 2019, for the benefit of the holders of the 9% </font><font style='font-family:Times New Roman;font-size:10pt;' >Priority Guarantee Notes due 2019, a pro rata share of any recovery received on account of the principal properties, subject to cert</font><font style='font-family:Times New Roman;font-size:10pt;' >ain terms and conditions. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Redemptions</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >may redeem the Priority Guarantee Notes at its option, in whole or part, </font><font style='font-family:Times New Roman;font-size:10pt;' >at </font><font style='font-family:Times New Roman;font-size:10pt;' >redemption price</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >set forth in the indentures</font><font style='font-family:Times New Roman;font-size:10pt;' >, plus accrued and unpaid interest to the redemption date</font><font style='font-family:Times New Roman;font-size:10pt;' >s plus</font><font style='font-family:Times New Roman;font-size:10pt;' > applicable premiums</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > governing the Priority Guarantee Notes contain covenants that limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things: (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)&#160;pay dividends, </font><font style='font-family:Times New Roman;font-size:10pt;' >redeem stock or make other distributions or investments; (ii)&#160;incur additional debt or issue certain preferred stock; (iii)&#160;modify any of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > existing senior notes; (iv)&#160;transfer or sell assets; (v)&#160;engage in certain transactio</font><font style='font-family:Times New Roman;font-size:10pt;' >ns with affiliates; (vi)&#160;create restrictions on dividends or other payments by the restricted subsidiaries; and (vii)&#160;merge, consolidate or sell substantially all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > assets. The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > contain covenants that limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the C</font><font style='font-family:Times New Roman;font-size:10pt;' >ompany&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >ability and the ability of its restricted subsidiaries to, among other things: (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)&#160;create liens on assets and (ii)&#160;materially impair the value of the security interests taken with respect to the collateral for the benefi</font><font style='font-family:Times New Roman;font-size:10pt;' >t of the notes collateral agent and the holders of the Priority Guarantee Notes. The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > also provide for customary events of default</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Subsidiary Senior Revolving Credit Facility Due 2018</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During the third quarter of 2013, CCOH entered into a five-year senior secured revolving credit facility with an aggregate principal amount of $</font><font style='font-family:Times New Roman;font-size:10pt;' >75.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million. The revolving credit facility may be used </font><font style='font-family:Times New Roman;font-size:10pt;' >for working capital needs, to issue letters of credit and for other general corporate purposes. At December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, there were no amounts outstanding under the revolving credit facility, and $</font><font style='font-family:Times New Roman;font-size:10pt;' >59.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million of letters of credit under the revolving cred</font><font style='font-family:Times New Roman;font-size:10pt;' >it facility, which reduce availability under the facility.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Senior Cash Pay Notes and Senior Toggle Notes</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had </font><font style='font-family:Times New Roman;font-size:10pt;' >no principal amounts outstanding of</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >10.75% </font><font style='font-family:Times New Roman;font-size:10pt;' >senior ca</font><font style='font-family:Times New Roman;font-size:10pt;' >sh pay notes due 2016 and </font><font style='font-family:Times New Roman;font-size:10pt;' >11.00%/11.75% senior toggle notes due 2016.</font><font style='font-family:Times New Roman;font-size:10pt;' > In August 2014, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > fully redeemed the remaining notes with proceeds from the issuance of 14.0% Senior Notes due 2021.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >14.0% Senior Notes due 2021</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;billion of aggregate principal amount of 14.0% Senior Notes due 2021 (net of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >431.9</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > principal amount issued to, and held by, a</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiary of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >).</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Senior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >mature on February</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;1, 2021. </font><font style='font-family:Times New Roman;font-size:10pt;' >Interest </font><font style='font-family:Times New Roman;font-size:10pt;' >on the Senior Notes due 2021 is </font><font style='font-family:Times New Roman;font-size:10pt;' >payable semi-annually on February</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >1 and August</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >1 of each year, </font><font style='font-family:Times New Roman;font-size:10pt;' >which began on </font><font style='font-family:Times New Roman;font-size:10pt;' >August</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >1, 2013. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Interest on the </font><font style='font-family:Times New Roman;font-size:10pt;' >S</font><font style='font-family:Times New Roman;font-size:10pt;' >enior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >will be paid at the rate of (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >12.0% per annum in cash and (ii)</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >2.0% per annum through the issuance of </font><font style='font-family:Times New Roman;font-size:10pt;' >payment-in-kind notes (the &#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >PIK Notes</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;)</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Any PIK Notes issued in certificated form will be dated as of the applicable interest pay</font><font style='font-family:Times New Roman;font-size:10pt;' >ment date and will bear interest from and after such date. All </font><font style='font-family:Times New Roman;font-size:10pt;' >PIK </font><font style='font-family:Times New Roman;font-size:10pt;' >Notes issued will mature on </font><font style='font-family:Times New Roman;font-size:10pt;' >February</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >1, 2021</font><font style='font-family:Times New Roman;font-size:10pt;' > and have the same rights and benefits as the </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Beginning with the interest payment due August 1, 2018 and continuing on each interest payment date thereafter, redemptions of a portion of the principal amount then outstanding will become due for purposes of applicable high yield discount obligation (&#8220;AHYDO&#8221;) catch-up payments.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >are fully and unconditionally guaranteed on a sen</font><font style='font-family:Times New Roman;font-size:10pt;' >ior basis by the guarantors named in the indenture governing such notes. The guarantee is structurally subordinated to all existing and future indebtedness and other liabilities of any subsidiary of the applicable subsidiary guarantor that is not also a g</font><font style='font-family:Times New Roman;font-size:10pt;' >uarantor of the </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes due 2021</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > The guarantees are subordinated to the guarantees of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > senior secured credit facility and certain other permitted debt, but rank equal to all other senior indebtedness of the guarantors</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company</font><font style='font-family:Times New Roman;font-size:10pt;' > may redeem the Senior Notes due 2021, in whole or in part, within certain dates, at the redemption prices set forth in the indenture plus accrued and unpaid interest to the redemption date.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >Sen</font><font style='font-family:Times New Roman;font-size:10pt;' >ior Notes due 2021 </font><font style='font-family:Times New Roman;font-size:10pt;' >contain</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > covenants that limit </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > ability and the ability of its restricted subsidiaries to, among other things: (</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >)&#160;incur additional indebtedness or issue certain preferred stock; (ii)&#160;pay dividends on, or m</font><font style='font-family:Times New Roman;font-size:10pt;' >ake distributions in respect of, their capital stock or repurchase their capital stock; (iii)&#160;make certain investments or other restricted payments; (iv)&#160;sell certain assets; (v)&#160;create liens or use assets as security in other transactions; (vi)&#160;merge, con</font><font style='font-family:Times New Roman;font-size:10pt;' >solidate or transfer or dispose of substantially all of their assets; (vii)&#160;engage in transactions with affiliates; and (viii)&#160;designate their subsidiaries as unrestricted subsidiaries.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:6.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:33pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company had outstanding senior notes (net of $57.1 million aggregate principal amount held by a subsidiary of the Company) consisting of:</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.5% Senior Notes Due 2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 192,900 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 192,900 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.875% Senior Notes Due 2018</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.25% Senior Notes Due 2027</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 300,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='4' rowspan='1' style='width:227.25pt;text-align:left;border-color:Black;min-width:227.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Legacy Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 667,900 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The</font><font style='font-family:Times New Roman;font-size:10pt;' >se</font><font style='font-family:Times New Roman;font-size:10pt;' > senior notes were the obligations of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > prior to the merger. The senior notes are senior, unsecured obligations that are effectively subordinated to </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > secured indebtedness to the extent of the value of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > assets securing such indebtedness and are not guaranteed by any of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries and, as a result, are structurally subordinated to all ind</font><font style='font-family:Times New Roman;font-size:10pt;' >ebtedness and other liabilities of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries. The senior notes rank equally in right of payment with all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > existing and future senior indebtedness and senior in right of payment to all </font><font style='font-family:Times New Roman;font-size:10pt;' >existing and future subordinated indebtedness.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >10.0% Senior Notes due 2018</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >As of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding $730.0 million aggregate principal amount of senior notes due 2018 (net of $120.0 million aggregate principal amount held by a subsidiary of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >). </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The senior notes due 2018 mature </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >on January 15, 2018 and bear interest at a rate of 10.0% per annum, payable semi-annually on January 15 and July 15 of each year, which began on July 15, 2014.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >The senior notes due 2018 are senior, un</font><font style='font-family:Times New Roman;font-size:10pt;' >secured obligations that are effectively subordinated to </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > secured indebtedness to the extent of the value of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > assets securing such indebtedness and are not guaranteed by any of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries and, as a result, are structurally subordinated to all indebtedness and other liabilities of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > subsidiaries. The senior notes due 2018 rank equally in right of payment with all of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > existing and future senior indebtedness and senior in right of payment to all existing and future subordinated indebtedness.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:4.5pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:26.25pt;' ><td colspan='13' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31, 2015 and 2014, the Company&#39;s subsidiaries, Clear Channel Worldwide Holdings, Inc. (&quot;CCWH&quot;) and Clear Channel International B.V. had outstanding notes consisting of:</font></td></tr><tr style='height:6pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:61.5pt;text-align:left;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td colspan='1' rowspan='2' style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;border-color:Black;min-width:100.5pt;' ></td><td style='width:61.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Maturity Date</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Rate</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interest Payment Terms</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Notes:</font></td><td style='width:61.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series A Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 735,750 </font></td></tr><tr style='height:51pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5% Series B Senior Notes Due 2022</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >11/15/2022</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.5%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,989,250 </font></td></tr><tr style='height:12.75pt;' ><td colspan='3' rowspan='1' style='width:177pt;text-align:left;border-color:Black;min-width:177pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >CCWH Senior Subordinated Notes:</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:54.75pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series A Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 275,000 </font></td></tr><tr style='height:56.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625% Series B Senior Notes Due 2020</font></td><td style='width:61.5pt;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3/15/2020</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >7.625%</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,925,000 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:100.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:100.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total CCWH Notes</font></td><td style='width:61.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:242.25pt;text-align:left;border-color:Black;min-width:242.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Clear Channel International B.V. Senior Notes:</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:115.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:115.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8.75% Senior Notes</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Due 2020</font></td><td style='width:61.5pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >12/15/2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8.75%</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:122.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Payable semi-annually in arrears on June 15 and December 15 of each year</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 225,000 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td colspan='2' rowspan='1' style='width:162pt;text-align:left;border-color:Black;min-width:162pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Subsidiary Senior Notes</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:122.25pt;text-align:left;border-color:Black;min-width:122.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,150,000 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,925,000 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Clear Channel International B.V. Senior Notes</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Clear Channel International B.V. Senior Notes are guaranteed by certain of the International outdoor business&#8217;s existing and future subsidiaries. The Company does not guarantee or otherwise assume any liability for the Clear Channel International B.V. </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior Notes. The notes are senior unsecured obligations that rank </font><font style='font-family:Times New Roman;font-size:10pt;' >pari</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >passu</font><font style='font-family:Times New Roman;font-size:10pt;' > in right of payment to all unsubordinated indebtedness of Clear Channel International B.V., and the guarantees of the notes are senior unsecured obligations that rank </font><font style='font-family:Times New Roman;font-size:10pt;' >pari</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >passu</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >in right of payment to all unsubordinated indebtedness of the guarantors of the notes. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Redemptions</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Clear Channel International B.V. may redeem the notes at its option, in whole or part, at the redemption prices set forth in the indenture plus accrued an</font><font style='font-family:Times New Roman;font-size:10pt;' >d unpaid interest to the redemption date. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture governing the Clear Channel International B.V. Senior Notes contains covenants that limit Clear Channel International B.V.&#8217;s ability and the ability of its restricted subsidiaries</font><font style='font-family:Times New Roman;font-size:10pt;' > to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > pay dividends, redeem stock or make other distributions or investments;</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > incur additional debt or issue certain preferred stock;</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > transfer or sell assets;</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > create liens on assets;</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > engage in certain transactions with affilia</font><font style='font-family:Times New Roman;font-size:10pt;' >tes;</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > create restrictions on dividends or other payments by the restricted subsidiaries; and</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:36pt;' >&#8226;</font><font style='font-family:Times New Roman;font-size:10pt;' > merge, consolidate or sell substantially all of Clear Channel International B.V.&#8217;s assets</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >CCWH Senior and Senior Subordinated Notes</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The CCWH Senior Notes are </font><font style='font-family:Times New Roman;font-size:10pt;' >guaranteed by CCOH, Clear Channel Outdoor, Inc. (&#8220;CCOI&#8221;) and certain of CCOH&#8217;s direct and indirect subsidiaries. The CCWH Senior Subordinated Notes are fully and unconditionally guaranteed, jointly and severally, on a senior subordinated basis by CCOH, CCO</font><font style='font-family:Times New Roman;font-size:10pt;' >I and certain of CCOH&#8217;s other domestic subsidiaries and rank junior to each guarantor&#8217;s existing and future senior debt, including the CCWH Senior Notes, equally with each guarantor&#8217;s existing and future senior subordinated debt and ahead of each guarantor</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8217;s existing and future debt that expressly provides that it is subordinated to the guarantees of the CCWH Senior Subordinated Notes.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The CCWH Senior Notes are senior obligations that rank </font><font style='font-family:Times New Roman;font-size:10pt;' >pari</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >passu</font><font style='font-family:Times New Roman;font-size:10pt;' > in right of payment to all unsubordinated indebtedness o</font><font style='font-family:Times New Roman;font-size:10pt;' >f CCWH and the guarantees of the CCWH Senior Notes rank </font><font style='font-family:Times New Roman;font-size:10pt;' >pari</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >passu</font><font style='font-family:Times New Roman;font-size:10pt;' > in right of payment to all unsubordinated indebtedness of the guarantors.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The CCWH Senior Subordinated Notes are unsecured senior subordinated obligations that rank junior to all of CCWH&#8217;s </font><font style='font-family:Times New Roman;font-size:10pt;' >existing and future senior debt, including the CCWH Senior Notes, equally with any of CCWH&#8217;s existing and future senior subordinated debt and ahead of all of CCWH&#8217;s existing and future debt that expressly provides that it is subordinated to the CCWH Subord</font><font style='font-family:Times New Roman;font-size:10pt;' >inated Notes.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Redemptions</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >CCWH may redeem the </font><font style='font-family:Times New Roman;font-size:10pt;' >CCWH Senior Notes and the CCWH </font><font style='font-family:Times New Roman;font-size:10pt;' >Senior </font><font style='font-family:Times New Roman;font-size:10pt;' >Subordinated Notes (collectively, the &#8220;Subsidiary Senior Notes&#8221;)</font><font style='font-family:Times New Roman;font-size:10pt;' > at its option, in whole or part</font><font style='font-family:Times New Roman;font-size:10pt;' >,</font><font style='font-family:Times New Roman;font-size:10pt;' > at redemption price</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > set forth in the indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > plus accrued and unpaid</font><font style='font-family:Times New Roman;font-size:10pt;' > interest to the redemption date</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > and plus an applicable premium.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Certain Covenants</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The indenture</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > governing the </font><font style='font-family:Times New Roman;font-size:10pt;' >Subsidiary Senior Notes contain</font><font style='font-family:Times New Roman;font-size:10pt;' > covenants that limit CCOH and its restricted subsidiaries ability to, among other things:</font></p><p style='text-align:left;line-height:12pt;' ></p><ul><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >incur or guarantee</font><font style='font-family:Times New Roman;font-size:10pt;' > additional debt</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >or issue certain preferred stock;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >in case of the Senior Notes, </font><font style='font-family:Times New Roman;font-size:10pt;' >create liens on its restricted subsidiaries&#8217; assets to secure such debt;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >create restrictions on the payment of dividends or other amounts;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >enter into certain transactions with </font><font style='font-family:Times New Roman;font-size:10pt;' >affiliates;</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of its assets;</font><font style='font-family:Times New Roman;font-size:10pt;' > and</font></li><li style='text-align:left;margin-top:0pt;margin-bottom:10.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >in the case of the Series B CCWH Senior Notes and the Series B CCWH Senior Subordinated Notes, </font><font style='font-family:Times New Roman;font-size:10pt;' >sell certain assets, including </font><font style='font-family:Times New Roman;font-size:10pt;' >capital stock of its subsidiaries</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></li></ul></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Future Maturities of Long-term Debt</font></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='4' rowspan='1' style='width:393.75pt;text-align:left;border-color:Black;min-width:393.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Future maturities of long-term debt at December 31, 2015 are as follows:</font></td></tr><tr style='height:7.5pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(in thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 197,332 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,394 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 914,244 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,300,278 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2020</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,425,502 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:93.75pt;text-align:left;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Thereafter</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,997,455 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:93.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:93.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 21,073,205 </font></td><td style='width:234.75pt;text-align:left;border-color:Black;min-width:234.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;margin-left:18pt;' >(1)</font>}<font style='font-family:Times New Roman;font-size:10pt;' > Excludes purchase accounting adjustments and original issue discount of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >204.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million, which is amortized through interest expense over the life of the underlying debt obligations.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Surety Bonds, Letters of Credit and </font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' >G</font><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;' >uarantees</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of </font><font style='font-family:Times New Roman;font-size:10pt;' >December 31,</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >we</font><font style='font-family:Times New Roman;font-size:10pt;' > had outstanding surety bonds, commercial standby letters of credit and bank guarantees of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >63.2</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >103.9</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >51.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively</font><font style='font-family:Times New Roman;font-size:10pt;' >. Bank guarantees of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >13.1</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' > were cash secured. These surety bonds, letters of credit and bank guarantees relate to various operational matters including insurance, bid, concession and performance bonds as well as other items.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p></div> 1000000000 59109000 9256000 302935000 51252000 61128000 526571000 0 0 1600000000 -172400000 -621000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nonconsolidated Affiliates</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In general, investments in which t</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company owns 20&#160;percent to 50&#160;percent of the common stock or otherwise exercises significant influence over the investee are accounted for under the equity method. The Company does not recognize gains or losses upon the issuance of securities by any of</font><font style='font-family:Times New Roman;font-size:10pt;' > its equity method investees. The Company reviews the value of equity method investments and records impairment charges in the statement of operations as a component of &#8220;Equity in earnings (loss) of nonconsolidated affiliates&#8221; for any decline in value tha</font><font style='font-family:Times New Roman;font-size:10pt;' >t is determined to be other-than-temporary.</font></p></div> 367 0 4925000000 8534000 339800000 0.56 9.93 4200000 540000000 0 3567764000 52384000 3604000 19257000 11568000 1717579000 0 457060000 0.09 1242000 275000000 -8942166000 730828000 -11473000 0 -923433000 765596000 -32369000 2021-03-01 -68088000 340000 0 18914000 130879000 4500000000 -1834000 -386634000 20326018000 113600000 -10888629000 2253000 0.09 75000000 0.8 -762158000 495000 2018 667900000 2142036000 No -330029000 56430000 <div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='17' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 12 &#8212; QUARTERLY RESULTS OF OPERATIONS (Unaudited)</font></td></tr><tr style='height:12.75pt;' ><td colspan='17' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:216pt;text-align:left;border-color:Black;min-width:216pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:25.5pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >March 31,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >September 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,344,564 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,342,548 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,599,859 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,154 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,579,514 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,034 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,717,579 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,715,797 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating expenses:</font></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 578,519 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 599,178 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 615,265 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 645,915 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 627,842 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 648,766 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 651,719 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 651,589 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 416,188 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 413,146 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 424,163 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 417,883 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 428,967 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 426,902 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 432,237 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 418,194 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77,288 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 72,705 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 80,592 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,197 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74,542 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 78,202 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 83,142 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 87,227 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 170,453 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,871 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 168,394 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,062 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 166,320 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,865 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 168,824 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 186,100 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,902 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 21,631 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,239 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,974)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 165 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 100,754 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,628)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,914 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,172 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,693)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,678)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 93,142 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,813 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 412,199 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,567 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 267,126 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,436 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 376,964 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,770 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Interest expense</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 441,771 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 431,114 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 452,957 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 440,605 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,921 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 432,616 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 456,847 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 437,261 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > investments, net</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 579 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,000)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Equity in earnings (loss) of</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > nonconsolidated affiliates</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 331 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (13,326)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (690)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (16)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (857)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,955 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 314 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on extinguishment</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > of debt</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,201)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,916)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (47,503)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,840)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,912 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other income (expense), net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,891 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,541 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,211 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,157 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (17,976)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,617 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,070)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (7,211)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income (loss) before</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income taxes</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (330,029)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (364,002)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (25,237)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (172,400)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (210,628)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,448)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (84,639)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,819)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (56,605)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (68,388)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (22,077)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 621 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,841)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,376)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,434)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 33,654 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated net</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income (loss)</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (386,634)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (432,390)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (47,314)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (171,779)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (213,469)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (107,824)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (90,073)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (50,165)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Less amount attributable to </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > noncontrolling interest</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,668)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,200)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,152 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,852 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,448 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,028 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,199 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,923 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Net income (loss)</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > attributable to the Company</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(384,966)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(424,190)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(54,466)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(186,631)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(221,917)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(114,852)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(93,272)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(68,088)</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr></table></div> 239142000 0 0 651719000 0 -9665208000 P7Y 245531000 25700000 0 223936000 272252000 7028000 671000 78202000 0.35 Maturity Borrowings under the receivables based credit facility will mature, and lending commitments thereunder will terminate, on the fifth anniversary of the effectiveness of the receivables based credit facility, which is December 24, 2017, provided that, (a) the maturity date will be October 31, 2015 if on October 30, 2015, greater than $500.0 million in aggregate principal amount is owing under certain of ##D<iHearts/iHearts/theCompanys> term loan credit facilities, (b) the maturity date will be May 3, 2016 if on May 2, 2016 greater than $500.0 million aggregate principal amount of ##D<iHearts/iHearts/theCompanys> 10.75% senior cash pay notes due 2016 and 11.00%/11.75% senior toggle notes due 2016 are outstanding and (c) in the case of any debt under clauses (a) and (b) that is amended or refinanced in any manner that extends the maturity date of such debt to a date that is on or before the date that is five years after the effectiveness of the receivables based credit facility, the maturity date will be one day prior to the maturity date of such debt after giving effect to such amendment or refinancing if greater than $500,000,000 in aggregate principal amount of such debt is outstanding P05Y07M 147917000 0.0725 -33001000 -2201000 10998000 585227000 -4840000 132100000 -158170000 35.55 166060000 197444000000 1600587000 20687082000 52384000 65526000 1350000 1695097000 <div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 7 &#8211; INCOME TAXES</font></td></tr><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Significant components of the provision for income tax benefit (expense) are as follows:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:233.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:233.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - Federal</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (31)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (503)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,586 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - foreign</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (46,188)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (27,256)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,466)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Current - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (12,890)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,193 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,527 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total current benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (59,109)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,566)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (36,353)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - Federal</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (30,719)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29,284)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 126,905 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - foreign</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,269 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,308 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,932 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred - state</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,398)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,947)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 22,333 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:295.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:295.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (27,848)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,923)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 158,170 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:306.75pt;text-align:left;border-color:Black;min-width:306.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (86,957)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Current </font><font style='font-family:Times New Roman;font-size:10pt;' >tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >59.1 million was recorded for 2015</font><font style='font-family:Times New Roman;font-size:10pt;' > as compared to a current tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >24.6 million for 2014</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >The change in current tax was primarily due to a reduction in unrecognized tax benefits during 2014, which resulted from the </font><font style='font-family:Times New Roman;font-size:10pt;' >expiration of statutes of limitations to assess taxes in the United Kingdom and several state jurisdictions. This decrease in unrecognized tax benefits resulted in a reduction to current tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >35.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million during 2014.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Current tax expense of</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >24.6&#160;million was recorded for 2014</font><font style='font-family:Times New Roman;font-size:10pt;' > as compared to a current tax </font><font style='font-family:Times New Roman;font-size:10pt;' >expense</font><font style='font-family:Times New Roman;font-size:10pt;' > of $36.4&#160;million for 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >The change in current tax was primarily due to a reduction in unrec</font><font style='font-family:Times New Roman;font-size:10pt;' >ognized tax benefits during 2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, which resulted from the </font><font style='font-family:Times New Roman;font-size:10pt;' >expiration of </font><font style='font-family:Times New Roman;font-size:10pt;' >statute</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > of lim</font><font style='font-family:Times New Roman;font-size:10pt;' >itations to </font><font style='font-family:Times New Roman;font-size:10pt;' >assess taxes </font><font style='font-family:Times New Roman;font-size:10pt;' >in the United Kingdom and several state jurisdictions. This decrease in unrecognized tax benefits resulted in a reduction to current tax expense of </font><font style='font-family:Times New Roman;font-size:10pt;' >$35.4</font><font style='font-family:Times New Roman;font-size:10pt;' > million during 2014</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Deferred tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >27.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million was recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >for 2015</font><font style='font-family:Times New Roman;font-size:10pt;' > compared with deferred tax </font><font style='font-family:Times New Roman;font-size:10pt;' >expense</font><font style='font-family:Times New Roman;font-size:10pt;' > of $33.9 million for 2014. Deferred tax expense for both 2015 and 2014 is primarily due to the valuation allowances recorded against the Company&#8217;s federal and state net operating losses during 2015 and 2014.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >De</font><font style='font-family:Times New Roman;font-size:10pt;' >ferred</font><font style='font-family:Times New Roman;font-size:10pt;' > tax expense of $33.9 million was recorded for 2014 compared with deferred tax benefit of $158.2 million for 2013. The change in deferred tax is primarily due to the valuation allowance of $339.8 million recorded against the Company&#8217;s current period</font><font style='font-family:Times New Roman;font-size:10pt;' > federal and state net operating losses during 2014</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Significant components of the Company&#39;s deferred tax liabilities and assets as of December 31, 2015 and 2014 are as follows:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax liabilities: </font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intangibles and fixed assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,173,491 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,335,584 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Long-term debt</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 79,758 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 119,887 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Investments </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,701 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,696 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,540 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,857 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,268,490 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,471,024 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred tax assets: </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accrued expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 114,079 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 111,884 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net operating loss carryforwards</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,495,294 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,445,340 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Bad debt reserves</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,256 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,346 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 39,539 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,017 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total gross deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,658,168 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,600,587 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:368.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:368.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: Valuation allowance</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,576 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total deferred tax assets</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 713,592 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,929 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net deferred tax liabilities</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,554,898 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,526,095 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >During the fourth quarter of 2015, the Company elected early adoption of ASU No. 2015-17, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >. This update requires companies to classify all deferred tax assets and liabilities as </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >noncurrent on the balance sheet instead of separating deferred taxes into current and noncurrent amounts.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The deferred tax liability related to intangibles and fixed assets primarily relates to the difference in book and tax basis of acquired FCC licenses</font><font style='font-family:Times New Roman;font-size:10pt;' >, billboard permits and tax deductible goodwill created from the Company&#8217;s various stock acquisitions. In accordance with ASC&#160;350-10, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;' >Intangibles&#8212;Goodwill and Other</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company does not amortize FCC licenses and billboard permits. As a result, this defe</font><font style='font-family:Times New Roman;font-size:10pt;' >rred tax liability will not reverse over time unless the Company recognizes future impairment charges related to its FCC licenses, permits and tax deductible goodwill or sells its FCC licenses or permits. As the Company continues to amortize its tax basis</font><font style='font-family:Times New Roman;font-size:10pt;' > in its FCC licenses, permits and tax deductible goodwill, the deferred tax liability will increase over time.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company&#8217;s net foreign deferred tax liabilities were $</font><font style='font-family:Times New Roman;font-size:10pt;' >9.3</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >13.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million for the periods ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and December&#160;31</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company had recorded net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' > (tax effected) for federal and state income tax purposes of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;billion, expiring in various amounts through </font><font style='font-family:Times New Roman;font-size:10pt;' >20</font><font style='font-family:Times New Roman;font-size:10pt;' >35</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company expec</font><font style='font-family:Times New Roman;font-size:10pt;' >ts to realize the benefits of a portion of its deferred tax assets attributable to federal and state net operating losses based upon expected future taxable income from deferred tax liabilities that reverse in the relevant federal and state jurisdictions a</font><font style='font-family:Times New Roman;font-size:10pt;' >nd </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > periods. As of December 31, 2015, the Company ha</font><font style='font-family:Times New Roman;font-size:10pt;' >d</font><font style='font-family:Times New Roman;font-size:10pt;' > recorded a partial valuation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;' >79</font><font style='font-family:Times New Roman;font-size:10pt;' >2.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million against these deferred tax assets attributable to federal and state net operating losses</font><font style='font-family:Times New Roman;font-size:10pt;' >, of which $305.3</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million was recorded durin</font><font style='font-family:Times New Roman;font-size:10pt;' >g the current period ended December 31, 2015</font><font style='font-family:Times New Roman;font-size:10pt;' >. In addition, the Company </font><font style='font-family:Times New Roman;font-size:10pt;' >recorded $</font><font style='font-family:Times New Roman;font-size:10pt;' >8.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million in additional valuation allowance against its foreign deferred tax assets during the year ended December 31, 2015, the effects of which are included in foreign ta</font><font style='font-family:Times New Roman;font-size:10pt;' >x expense. At December 31, 2015, the Company </font><font style='font-family:Times New Roman;font-size:10pt;' >had recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >13</font><font style='font-family:Times New Roman;font-size:10pt;' >4.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > (tax-effected) of deferred tax assets for foreign net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >which are offset in part by an associated valuation allowance </font><font style='font-family:Times New Roman;font-size:10pt;' >of $</font><font style='font-family:Times New Roman;font-size:10pt;' >13</font><font style='font-family:Times New Roman;font-size:10pt;' >2.1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' >. Additional deferr</font><font style='font-family:Times New Roman;font-size:10pt;' >ed tax valuation allowance of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >20.1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > offsets other foreign deferred tax assets that are not expected to be realized. Realization of these foreign deferred tax assets is dependent upon the Company&#8217;s ability to generate future taxable income in appro</font><font style='font-family:Times New Roman;font-size:10pt;' >priate tax jurisdictions and </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > periods. Due to the Company&#8217;s evaluation of </font><font style='font-family:Times New Roman;font-size:10pt;' >all available evidence, </font><font style='font-family:Times New Roman;font-size:10pt;' >including </font><font style='font-family:Times New Roman;font-size:10pt;' >significant</font><font style='font-family:Times New Roman;font-size:10pt;' > negative evidence of cumulative losses in these jurisdictions, the Company continues to record valuation allowances on the </font><font style='font-family:Times New Roman;font-size:10pt;' >foreign deferred tax assets that are not expected to be realized. The Company expects to realize its remaining gross deferred tax assets based upon its assessment of deferred tax liabilities that will reverse in the same </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > period and jurisdict</font><font style='font-family:Times New Roman;font-size:10pt;' >ion and are of the same character as the net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' > and temporary differences that give rise to the deferred tax assets. Any deferred tax liabilities associated with acquired FCC licenses, billboard permits and tax-deductible goodwil</font><font style='font-family:Times New Roman;font-size:10pt;' >l intangible assets are not relied upon as a source of future taxable income, as these intangible assets have an indefinite life.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >At December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, net deferred tax liabilities include a deferred tax asset of $</font><font style='font-family:Times New Roman;font-size:10pt;' >30.</font><font style='font-family:Times New Roman;font-size:10pt;' >9</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million relating to stock-based compensation expense under ASC&#160;718-10, </font><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;' >Compensation&#8212;Stock Compensation</font><font style='font-family:Times New Roman;font-size:10pt;' >. &#160;Full realization of this deferred tax asset requires stock options to be exercised at a price equaling or exceeding the sum of the grant price plus th</font><font style='font-family:Times New Roman;font-size:10pt;' >e fair value of the option at the grant date and restricted stock to vest at a price equaling or exceeding the fair market value at the grant date. Accordingly, there can be no assurance that the stock price of the Company&#8217;s common stock will rise to leve</font><font style='font-family:Times New Roman;font-size:10pt;' >ls sufficient to realize the entire deferred tax benefit currently reflected in its balance sheet.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='16' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The reconciliation of income tax computed at the U.S. Federal statutory tax rates to income tax benefit is:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='14' rowspan='1' style='width:402pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:402pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='4' rowspan='1' style='width:129pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:129pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Amount</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Percent</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit at</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >statutory rates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 227,686 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,284 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 246,867 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >35%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >State income taxes, net of </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >federal tax effect</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,795 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,518 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,768 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign income taxes</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (23,474)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(4%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,074 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (22,640)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Nondeductible items</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,764)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,533)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,870)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Changes in valuation allowance </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:126.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:126.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other estimates</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (302,935)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(46%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (333,641)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(47%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (135,161)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(19%)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (265)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,191)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1%)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,853 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1%</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:138pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (86,957)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(13%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58,489)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8%)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 121,817 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >17%</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >Company&#8217;s effective tax rate for </font><font style='font-family:Times New Roman;font-size:10pt;' >the year ended December 31, 2015</font><font style='font-family:Times New Roman;font-size:10pt;' > is (</font><font style='font-family:Times New Roman;font-size:10pt;' >13</font><font style='font-family:Times New Roman;font-size:10pt;' >%). </font><font style='font-family:Times New Roman;font-size:10pt;' > The effective tax rate for 2015</font><font style='font-family:Times New Roman;font-size:10pt;' > was impacted by the $</font><font style='font-family:Times New Roman;font-size:10pt;' >305.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million valuation allowance recorded during the period as additional deferred tax expense. The valuation allowance was recorded against the Company&#8217;s current period federal and state net operating losses due to the uncertainty of the ability to utilize t</font><font style='font-family:Times New Roman;font-size:10pt;' >hose losses in future periods. </font><font style='font-family:Times New Roman;font-size:10pt;' >Foreign income before income taxes was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >49.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million for 2015, and it should be noted that with limited exceptions, tax rates in our foreign jurisdictions are lower than that of the U.S. federal statutory rate.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >A tax expense was recorded for the year ended December&#160;31, 2014 of (8%). The effective tax rate for 2014 was impacted by the $</font><font style='font-family:Times New Roman;font-size:10pt;' >339.8</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million valuation allowance recorded during the period as additional deferred tax expense. The valuation allowance was r</font><font style='font-family:Times New Roman;font-size:10pt;' >ecorded against a portion of the federal and state net operating losses due to the uncertainty of the ability to utilize those losses in future periods. This expense was partially offset by $</font><font style='font-family:Times New Roman;font-size:10pt;' >28.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million in net tax benefits associated with a decrease in u</font><font style='font-family:Times New Roman;font-size:10pt;' >nrecognized tax benefits resulting from the expiration of statute of limitations to assess taxes in the United Kingdom and several state jurisdictions. Foreign income before income taxes was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >97.2</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million for 2014.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >A tax benefit was recorde</font><font style='font-family:Times New Roman;font-size:10pt;' >d for the year ended December 31, 2013 of 17%. The effective tax rate for 2013 was impacted by the $</font><font style='font-family:Times New Roman;font-size:10pt;' >143.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million valuation allowance recorded during the period as additional deferred tax expense. The valuation allowance was recorded against a portion of</font><font style='font-family:Times New Roman;font-size:10pt;' > the federal and state net operating losses due to the uncertainty of the ability to utilize those losses in future periods. This expense was partially offset by $</font><font style='font-family:Times New Roman;font-size:10pt;' >20.2</font><font style='font-family:Times New Roman;font-size:10pt;' > million in net tax benefits recorded during the period due to the settlement of certain</font><font style='font-family:Times New Roman;font-size:10pt;' > U.S. federal and state tax examinations during the year. Foreign income before income taxes was approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >48.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million for 2013.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company provides for any related tax liability on undistributed earnings that the Company does not intend to be ind</font><font style='font-family:Times New Roman;font-size:10pt;' >efinitely reinvested outside the United States or would otherwise become taxable upon remittance within our foreign structure. Substantially all of the Company&#8217;s undistributed international earnings are intended to be indefinitely reinvested in home count</font><font style='font-family:Times New Roman;font-size:10pt;' >ry operations outside the United States. If any excess cash held by our foreign subsidiaries were needed to fund operations in the U.S., we could presently repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of </font><font style='font-family:Times New Roman;font-size:10pt;' >significant deficits, as calculated for tax law purposes, in our foreign earnings and profits, which gives us flexibility to make future cash distributions as non-taxable returns of capital. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company continues to record interest and penalties related</font><font style='font-family:Times New Roman;font-size:10pt;' > to unrecognized tax benefits in current income tax expense.&#160; The total amount of interest accrued at December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >45.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >40.8</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million, respectively. The total amount of unrecognized tax benefits and accrued interest an</font><font style='font-family:Times New Roman;font-size:10pt;' >d penalties at December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >was $</font><font style='font-family:Times New Roman;font-size:10pt;' >148.2</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >47.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million, respectively, of which </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >113.</font><font style='font-family:Times New Roman;font-size:10pt;' >6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >10.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million is included in &#8220;Other long-term liabilities&#8221;, </font><font style='font-family:Times New Roman;font-size:10pt;' >and $</font><font style='font-family:Times New Roman;font-size:10pt;' >0.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.3</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million is included in &#8220;Accrued Expenses</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221; on the Company&#8217;s consolidated balance sheets, respectively. In addition, </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >34</font><font style='font-family:Times New Roman;font-size:10pt;' >.6</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >and $</font><font style='font-family:Times New Roman;font-size:10pt;' >35.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million </font><font style='font-family:Times New Roman;font-size:10pt;' >of unrecognized tax benefits are recorded net with the Company&#8217;s deferred tax assets for its net operating losses as opposed to being recorded in &#8220;Other long-term liabilities&#8221; at December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively</font><font style='font-family:Times New Roman;font-size:10pt;' >. The total amount of unrecogn</font><font style='font-family:Times New Roman;font-size:10pt;' >ized tax benefits at December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > that, if recognized, would impact the effective income tax rate </font><font style='font-family:Times New Roman;font-size:10pt;' >is $</font><font style='font-family:Times New Roman;font-size:10pt;' >54.3</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;' >68.8</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million, respectively.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrecognized Tax Benefits</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at beginning of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,914 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 129,375 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax position taken in the current year</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,856 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,848 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Increases for tax positions taken in previous years</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,087 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,003 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases for tax position taken in previous years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,534)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,764)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to settlements with tax authorities</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,821)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,181)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:364.5pt;text-align:left;border-color:Black;min-width:364.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Decreases due to lapse of statute of limitations</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,294)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,367)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:372pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:372pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at end of period</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 103,208 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 106,914 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The </font><font style='font-family:Times New Roman;font-size:10pt;' >Company and its subsidiaries file income tax returns in the United States federal jurisdiction and various state and for</font><font style='font-family:Times New Roman;font-size:10pt;' >eign jurisdictions. During 2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the statute of limitations for certain tax years expired in the United Kingdom and several state </font><font style='font-family:Times New Roman;font-size:10pt;' >jurisdictions resulting in a reduction to unrecognized tax benefits of </font><font style='font-family:Times New Roman;font-size:10pt;' >$4.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million</font><font style='font-family:Times New Roman;font-size:10pt;' >, excl</font><font style='font-family:Times New Roman;font-size:10pt;' >uding interest. Also during 2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company settled certain U.S. federal and state examinations with taxing authorities, resulting in decreases in unrecognized tax </font><font style='font-family:Times New Roman;font-size:10pt;' >benefits relating to cash tax </font><font style='font-family:Times New Roman;font-size:10pt;' >payments of $3.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million.</font><font style='font-family:Times New Roman;font-size:10pt;' > All federal income tax matters through 20</font><font style='font-family:Times New Roman;font-size:10pt;' >10</font><font style='font-family:Times New Roman;font-size:10pt;' > are closed</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > The IRS is currently auditing the Company&#8217;s tax returns for the 2011 and 2012 periods. Substantially all material state, local, and foreign i</font><font style='font-family:Times New Roman;font-size:10pt;' >ncome tax matters have been concluded for years through</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >200</font><font style='font-family:Times New Roman;font-size:10pt;' >6</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div> 1658168000 0 0 -7621000 -54466000 303567000 10700000 0 14000 0 0 48056000 -84639000 1024000 44030000000 2600000000 -83448000 0 12619000 <div><table style='border-collapse:collapse;' ><tr style='height:91.5pt;' ><td colspan='9' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter transactions represent the exchange of advertising spots or display space for merchandise, services or other assets. These transactions are recorded at the estimated fair market value of the advertising spots or display space or the fair value of the merchandise or services received, whichever is most readily determinable. Revenue is recognized on barter and trade transactions when the advertisements are broadcasted or displayed. Expenses are recorded ratably over a period that estimates when the merchandise, service or other assets received is utilized, or when the event occurs. Barter and trade revenues and expenses from continuing operations are included in consolidated revenue and selling, general and administrative expenses, respectively. Barter and trade revenues and expenses from continuing operations were as follows:</font></td></tr><tr style='height:15pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In millions)</font></td><td colspan='8' rowspan='1' style='width:222pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:222pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:13.5pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:69pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:69pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade revenues</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 132.5 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77.6 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 71.3 </font></td></tr><tr style='height:12.75pt;' ><td style='width:318pt;text-align:left;border-color:Black;min-width:318pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Barter and trade expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 110.9 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74.7 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:60pt;text-align:right;border-color:Black;min-width:60pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 65.5 </font></td></tr></table></div> -26518000 17131000 1222518000 47172000 0 0 1065716000 <div><table style='border-collapse:collapse;' ><tr style='height:26.25pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Accumulated other comprehensive loss,&#8221; net of tax, as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (389,367)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (291,520)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative unrealized gain on securities</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,946 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,397 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cumulative other adjustments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (26,986)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (18,467)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total accumulated other comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (414,407)</font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (308,590)</font></td></tr></table></div> -652148000 9.02 -10214000 91887000 -234897000 -424190000 4461000 6914000 195644000 0.35 -398001000 170453000 69003000 0 2000000 921000 52384000 6732000 0 26169000 -671000 107186000 350000000 230000000 0 <div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='8' rowspan='1' style='width:477pt;text-align:left;border-color:Black;min-width:477pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents a summary of Parent&#39;s stock options outstanding at and stock option activity during the year ended December 31, 2015 (&quot;Price&quot; reflects the weighted average exercise price per share):</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual Term</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,301 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32.85 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (204)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.46 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015 </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,097 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.03 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3.7 years</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,415 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.22 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3.8 years</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to Vest</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 658 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.55 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3.3 years</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:28.5pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='7' rowspan='1' style='width:463.5pt;text-align:left;border-color:Black;min-width:463.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-cash compensation expense has not been recorded with respect to 0.6 million shares as the vesting of these options is subject to performance conditions that have not yet been determined probable to meet.</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:29.25pt;' ><td colspan='12' rowspan='1' style='width:556.5pt;text-align:left;border-color:Black;min-width:556.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents a summary of CCOH&#8217;s stock options outstanding at and stock option activity during the year ended December 31, 2015:</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data) </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:center;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Aggregate </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intrinsic </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,025 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.92 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 921 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.96 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2) </font>}</td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (622)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.11 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (34)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.74 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (942)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12.45 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,348 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.93 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.6 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,049 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,658 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.33 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.2 years</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,049 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to vest</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,535 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.02 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8.4 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:31.5pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='11' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The weighted average grant date fair value of CCOH options granted during the years ended December 31, 2015, 2014 and 2013 was $4.25, $4.69 and $4.10 per share, respectively.</font></td></tr><tr style='height:41.25pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font>}</td><td colspan='11' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash received from option exercises during the years ended December 31, 2015, 2014 and 2013 was $3.8 million, $2.4 million and $4.2 million, respectively. The total intrinsic value of the options exercised during the years ended December 31, 2015, 2014 and 2013 was $2.8 million, $1.5 million and $5.0 million, respectively.</font></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font>}</td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reflects the weighted average exercise price per share.</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr></table></div> <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,529 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.02 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,413 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.83 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (446)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.56 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (426)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.21 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,070 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.36 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:27.75pt;' ><td colspan='8' rowspan='1' style='width:540.75pt;text-align:left;border-color:Black;min-width:540.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents a summary of CCOH&#8217;s restricted stock and restricted stock units outstanding at and activity during the year ended December 31, 2015 (&quot;Price&quot; reflects the weighted average share price at the date of grant):</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,458 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.54 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 702 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.35 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (340)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.13 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.39 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,762 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.43 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr></table></div> 330302000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;color:#000000;' >NOTE </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >11</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' > &#8211; SEGMENT DATA</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s reportable segments, which it believes best reflect how the Company is currently managed, are </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >, Americas</font><font style='font-family:Times New Roman;font-size:10pt;' > outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at </font><font style='font-family:Times New Roman;font-size:10pt;' >estimated </font><font style='font-family:Times New Roman;font-size:10pt;' >fair value and eliminated in consolidation. The </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment provides media and entertainment services via broad</font><font style='font-family:Times New Roman;font-size:10pt;' >cast and digital delivery and also includes the Company&#8217;s </font><font style='font-family:Times New Roman;font-size:10pt;' >events and </font><font style='font-family:Times New Roman;font-size:10pt;' >national syndication business</font><font style='font-family:Times New Roman;font-size:10pt;' >es</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Americas outdoor advertising segment consists of operations pri</font><font style='font-family:Times New Roman;font-size:10pt;' >marily in the United States, </font><font style='font-family:Times New Roman;font-size:10pt;' >Canada</font><font style='font-family:Times New Roman;font-size:10pt;' > and Latin America</font><font style='font-family:Times New Roman;font-size:10pt;' >. The International outdoor</font><font style='font-family:Times New Roman;font-size:10pt;' > adv</font><font style='font-family:Times New Roman;font-size:10pt;' >ertising</font><font style='font-family:Times New Roman;font-size:10pt;' > segment primarily incl</font><font style='font-family:Times New Roman;font-size:10pt;' >udes operations in Europe, Asia</font><font style='font-family:Times New Roman;font-size:10pt;' > and Australia</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Other category includes the Com</font><font style='font-family:Times New Roman;font-size:10pt;' >pany&#8217;s media representation business</font><font style='font-family:Times New Roman;font-size:10pt;' > as well as other general support services and init</font><font style='font-family:Times New Roman;font-size:10pt;' >i</font><font style='font-family:Times New Roman;font-size:10pt;' >atives </font><font style='font-family:Times New Roman;font-size:10pt;' >that</font><font style='font-family:Times New Roman;font-size:10pt;' > are ancillary to the Company&#8217;s other busi</font><font style='font-family:Times New Roman;font-size:10pt;' >nesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance</font><font style='font-family:Times New Roman;font-size:10pt;' > and administrative functions for</font><font style='font-family:Times New Roman;font-size:10pt;' > each of the Company&#8217;s </font><font style='font-family:Times New Roman;font-size:10pt;' >reportable </font><font style='font-family:Times New Roman;font-size:10pt;' >segments, as well as overall executive, administrative and support f</font><font style='font-family:Times New Roman;font-size:10pt;' >unctions. Share-based payments are recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >in corporate expense.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:24.75pt;' ><td colspan='21' rowspan='1' style='width:546.75pt;text-align:justify;border-color:Black;min-width:546.75pt;' ></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td></tr><tr style='height:48.75pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >iHM</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate and other reconciling items</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Eliminations</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:546.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:546.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2015</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,284,320 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,349,021 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,457,183 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 164,296 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (13,304)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,241,516 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 972,937 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 597,382 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 897,520 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 12,619 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (7,113)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,473,345 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,065,716 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 233,254 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 298,250 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 110,526 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (6,191)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,701,555 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 240,230 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 204,514 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 166,060 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 26,386 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 36,801 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 673,991 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 21,631 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 21,631 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 315,564 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 315,564 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 94,001 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 94,001 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,005,437 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,871 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 95,353 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,765 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (279,995)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,149,431 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,744 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,560 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 13,304 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,534,972 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,567,764 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,581,710 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 238,599 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,094,345 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (196,292)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 13,821,098 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 59,007 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 82,165 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 132,554 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,846 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 15,808 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 296,380 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,923 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,923 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:546.75pt;text-align:left;border-color:Black;min-width:546.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2014</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,161,503 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,350,623 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,610,636 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 212,676 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (16,905)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,318,533 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 932,172 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 605,771 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 991,117 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,009 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (7,621)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,545,448 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,014,432 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 233,641 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 314,878 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 122,448 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (9,274)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,676,125 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 240,868 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 203,928 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 198,143 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 33,543 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,416 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 710,898 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,341 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (10)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,331 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 974,031 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 307,283 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 106,498 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 32,676 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (338,902)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,081,586 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,436 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 13,459 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,905 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,720,181 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,664,574 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,680,598 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 277,388 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 659,708 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,002,449 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 50,403 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 109,727 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 117,480 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 5,744 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,810 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 318,164 </font></td></tr><tr style='height:24.75pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2013</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,131,595 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,385,757 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,560,433 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 181,993 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (16,734)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,243,044 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 955,767 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 610,750 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 983,978 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 25,271 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (8,556)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,567,210 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 982,514 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 243,456 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 300,116 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 118,830 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (8,178)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,636,738 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 262,136 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 206,031 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 194,493 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 39,291 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,877 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 730,828 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 931,178 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 325,520 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 81,846 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (1,399)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (336,363)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,000,782 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,473 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,261 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,734 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,933,564 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,823,347 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,899,648 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 534,363 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 854,413 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 15,045,335 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 75,742 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 96,590 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 100,949 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 9,933 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 41,312 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 324,526 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Revenue of $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >8</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.</font><font style='font-family:Times New Roman;font-size:10pt;' >7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion derived</font><font style='font-family:Times New Roman;font-size:10pt;' > from the Company&#8217;s foreign operations are included in the data above for the </font><font style='font-family:Times New Roman;font-size:10pt;' >years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively. </font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Revenue of $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion</font><font style='font-family:Times New Roman;font-size:10pt;' > derived</font><font style='font-family:Times New Roman;font-size:10pt;' > from the Company&#8217;s U.S. operations are included in the data above for the years ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Identifiable long-lived </font><font style='font-family:Times New Roman;font-size:10pt;' >assets of $</font><font style='font-family:Times New Roman;font-size:10pt;' >629.5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million, $</font><font style='font-family:Times New Roman;font-size:10pt;' >682.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >760.5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million derived from the Company&#8217;s forei</font><font style='font-family:Times New Roman;font-size:10pt;' >gn operations are include</font><font style='font-family:Times New Roman;font-size:10pt;' >d in the data above for the years ended December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively. Identifiable long-lived assets of $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.</font><font style='font-family:Times New Roman;font-size:10pt;' >0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >billion and $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;b</font><font style='font-family:Times New Roman;font-size:10pt;' >illion derived</font><font style='font-family:Times New Roman;font-size:10pt;' > from the Company&#8217;s U.S. operations are included in the data a</font><font style='font-family:Times New Roman;font-size:10pt;' >bove for the years ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively</font></p></div> 1350623000 307283000 0 412199000 1686988000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Under the</font><font style='font-family:Times New Roman;font-size:10pt;' > fair value recognition provisions of ASC&#160;718-10, share-based compensation cost is measured at the grant date based on the fair value of the award. For awards that vest based on service conditions, this cost is recognized as expense on a straight-line bas</font><font style='font-family:Times New Roman;font-size:10pt;' >is over the vesting period. For awards that will vest based on market or performance conditions, this cost will be recognized when it becomes probable that the performance conditions will be satisfied. Determining the fair value of share-based awards at t</font><font style='font-family:Times New Roman;font-size:10pt;' >he grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company does not have any equity incentive plans under which it grants stock awards to employees. Employees of subsidiaries of the Co</font><font style='font-family:Times New Roman;font-size:10pt;' >mpany receive equity awards from Parent&#8217;s equity incentive plan or CCOH&#8217;s equity incentive plan.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 1049000 226829000 0 132258000 0 -7995191000 2062475000 -793761000 2567210000 21631000 2970000 9493000 181512000 177615000 2214000 0 2578000 0 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='8' rowspan='1' style='width:486.75pt;text-align:left;border-color:Black;min-width:486.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A summary of Parent&#8217;s unvested options and changes during the year ended December 31, 2015 is presented below:</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 821 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13.61 </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font>}</td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (139)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2.32 </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 682 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15.99 </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:29.25pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='7' rowspan='1' style='width:473.25pt;text-align:left;border-color:Black;min-width:473.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The total fair value of the options vested during the years ended December 31, 2015, 2014 and 2013 was $0.3 million, $0.3 million and $6.3 million, respectively.</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='8' rowspan='1' style='width:538.5pt;text-align:left;border-color:Black;min-width:538.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A summary of CCOH&#8217;s unvested options at and changes during the year ended December 31, 2015 is presented below:</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:117.75pt;text-align:left;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td><td style='width:117.75pt;text-align:center;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,553 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.92 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 921 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.25 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font>}</td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (750)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.56 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (34)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.92 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,690 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.27 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:28.5pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='7' rowspan='1' style='width:525pt;text-align:left;border-color:Black;min-width:525pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The total fair value of CCOH options vested during the years ended December 31, 2015, 2014 and 2013 was $4.2 million, $6.1 million and $7.1 million, respectively.</font></td></tr></table></div> 615265000 -186631000 15200000000 5000000 225000000 Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year 0.06875 -9253000 591149000 10713000 3199000 2617000 -1397000 58000 31603000 39414000 708151000 31603000 -2314000 289065000 6003000 15000000 0.5 0 6.11 0 1614199000 81532000 0 303177000 3625000 0 -432390000 0 3955000 1978000 20400000 89722000 91887000 2021-03-01 2016-01-29 -3317000 -793761000 8448000 74542000 0.0025 77000 0 0 13821098000 0 -650533000 -737490000 25228000 12830043000 2268490000 -0.13 10385000 117480000 0 40031000 32676000 168394000 799475000 0 29284000 139000 324526000 Payable semi-annually in arrears on March 1 and September 1 of each year 454863000 -12306000 6696000 245531000 -5678000 -423000 456847000 166320000 31800000 -1668000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &quot;Other income (expense)&quot; for the years ended December 31, 2015, 2014 and 2013, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='8' rowspan='1' style='width:199.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:199.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:15pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:center;border-color:Black;min-width:329.25pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign exchange gain</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,468 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15,554 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,772 </font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Debt modification expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (23,555)</font></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,412)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,450)</font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (197)</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other income (expense), net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13,056 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,104 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,980)</font></td></tr></table></div> 0 40027000 437261000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table discloses the components of &#8220;Other current assets&#8221; as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands) </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:130.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:130.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As of December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;border-color:Black;min-width:329.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:61.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:61.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Inventory</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 24,833 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 23,777 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deposits</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,184 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,466 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Deferred loan costs</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,768 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,602 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:340.5pt;text-align:left;border-color:Black;min-width:340.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 51,252 </font></td><td style='width:7.5pt;text-align:justify;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,661 </font></td></tr><tr style='height:12.75pt;' ><td style='width:11.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:11.25pt;' ></td><td style='width:329.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:329.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total other current assets </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:52.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 112,037 </font></td><td style='width:7.5pt;text-align:justify;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 98,506 </font></td></tr></table></div> 347877000 37763000000 77000 1222518000 -21080000 26500000 4500000000 -33022000 -0.03 -4757000 446000 5802000 1526095000 164296000 39963000 0 0 81831000 3915338000 -10606681000 -10266000 -22410000 29159000 377410000 <div><table style='border-collapse:collapse;' ><tr style='height:14.25pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 3 &#8211; INVESTMENTS</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:left;border-color:Black;min-width:60.75pt;' ></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:left;border-color:Black;min-width:68.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='16' rowspan='1' style='width:551.25pt;text-align:left;border-color:Black;min-width:551.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table summarizes the Company&#39;s investments in nonconsolidated affiliates and available-for-sale securities:</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:left;border-color:Black;min-width:60.75pt;' ></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:left;border-color:Black;min-width:68.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:right;border-color:Black;min-width:172.5pt;' ></td><td colspan='5' rowspan='1' style='width:138pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:138pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity Method Investments</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='6' rowspan='1' style='width:160.5pt;text-align:center;border-color:Black;min-width:160.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:26.25pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >ARN</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >All</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Others</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cost Method Investments</font></td><td style='width:6.75pt;text-align:center;border-color:Black;min-width:6.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Marketable Equity Securities</font></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total Investments</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 220,750 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,055 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,783 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,942 </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 248,530 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,263 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,263 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,520 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,520 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in earnings (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (12,678)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,262 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,416)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,449 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (20)</font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (291)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,215 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (228)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,000)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (14)</font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,242)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Proceeds on sale</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (220,783)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (15,820)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (236,603)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,490 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (344)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327 </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 11,473 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9,493 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,269 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:68.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,978 </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,740 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash advances (repayments)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,578 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,578 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions of investments, net</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,980 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,546 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 65,526 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Equity in earnings (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (902)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (902)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency transaction adjustment</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (89)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (13)</font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (205)</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (307)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Distributions received</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,350)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,350)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Loss on investments</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,000)</font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,000)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:172.5pt;text-align:left;border-color:Black;min-width:172.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:6.75pt;text-align:left;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:68.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 553 </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 553 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:180pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:180pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at December 31, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,710 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:60.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58,802 </font></td><td style='width:6.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:6.75pt;' ></td><td style='width:8.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:68.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:68.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,326 </font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 88,838 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Equity method investments in the table above are not consolidated, but are accounted for under the equity method of accounting, whereby the Company records its investments in these entities in the balance sheet as &#8220;Other assets.&#8221; The Company&#39;s interests </font><font style='font-family:Times New Roman;font-size:10pt;' >in their operations are recorded in the statement of comprehensive loss as &#8220;Equity in earnings (loss) of nonconsolidated affiliates.&#8221;</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >Other cost investments include various investments in companies for which there is no readily determinable market value. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;margin-left:0pt;' >Australian Radio Network</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company owned a fifty-percent (</font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >%) interest in Australian Radio Network (&#8220;ARN&#8221;), an Australian company that owns and operates radio stations in Australia and New Zealand. An impairment charge of $</font><font style='font-family:Times New Roman;font-size:10pt;' >95.4</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million was recorded </font><font style='font-family:Times New Roman;font-size:10pt;' >during the fourth quarter of 2013 to write down the investment to its estimated fair value. On February 18, 2014, a subsidiary of the Company sold its </font><font style='font-family:Times New Roman;font-size:10pt;' >50</font><font style='font-family:Times New Roman;font-size:10pt;' >% interest in ARN, recognizing a loss on the sale of $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.4</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >11.5</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >million of foreign exchang</font><font style='font-family:Times New Roman;font-size:10pt;' >e losses that were reclassified from accumulated other comprehensive income at the date of the sale.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During the fourth quarter of 2015, the Company reco</font><font style='font-family:Times New Roman;font-size:10pt;' >rded </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >36</font><font style='font-family:Times New Roman;font-size:10pt;' >.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million </font><font style='font-family:Times New Roman;font-size:10pt;' >for</font><font style='font-family:Times New Roman;font-size:10pt;' > investments made in </font><font style='font-family:Times New Roman;font-size:10pt;' >three</font><font style='font-family:Times New Roman;font-size:10pt;' > private companies in exchange for advertising services</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company recognized barter revenue of $</font><font style='font-family:Times New Roman;font-size:10pt;' >15.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million in the fourth quarter of 2015 as services were provided. The remaining value of advertising services will be provided in 2016. </font><font style='font-family:Times New Roman;font-size:10pt;' >One of these investments is being accounted for under the equity meth</font><font style='font-family:Times New Roman;font-size:10pt;' >od of accounting, and two of </font><font style='font-family:Times New Roman;font-size:10pt;' >t</font><font style='font-family:Times New Roman;font-size:10pt;' >hese investments are being accounted for under the cost method.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company recognized other-than-temporary impairments of $5.0 million on cost investments for the year ended December 31, 2015, which was a non-cash impairment</font><font style='font-family:Times New Roman;font-size:10pt;' > charge recorded in &#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >Gain (loss) on investments, net</font><font style='font-family:Times New Roman;font-size:10pt;' >.&#8221; </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Marketable Equity Securities</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >ASC&#160;820-10-35 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level&#160;1, defined as observ</font><font style='font-family:Times New Roman;font-size:10pt;' >able inputs such as quoted prices in active markets; Level&#160;2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level&#160;3, defined as unobservable inputs in which little or no market data exis</font><font style='font-family:Times New Roman;font-size:10pt;' >ts, therefore requiring an entity to develop its own assumptions.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s marketable equity securities are measured at fair value on each reporting date.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The marketable equity securities are measured at fair value using quoted prices in active </font><font style='font-family:Times New Roman;font-size:10pt;' >markets. Due to the fact that the inputs used to measure the marketable equity securities at fair value are observable, the Company has categorized the fair value measurements of the securities as Level&#160;1. As of December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Comp</font><font style='font-family:Times New Roman;font-size:10pt;' >any held $2.3 million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million in marketable equity securities, which are included within Other Assets</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2013, the Company sold shares of Sirius XM Radio, Inc. held by it for $</font><font style='font-family:Times New Roman;font-size:10pt;' >135.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million. In connection with the sale of shares of Sirius X</font><font style='font-family:Times New Roman;font-size:10pt;' >M Radio, Inc., a realized gain of $</font><font style='font-family:Times New Roman;font-size:10pt;' >130.9</font><font style='font-family:Times New Roman;font-size:10pt;' > million and income tax expense of $</font><font style='font-family:Times New Roman;font-size:10pt;' >48.6 </font><font style='font-family:Times New Roman;font-size:10pt;' >million were reclassified out of accumulated other comprehensive loss into &#8220;Gain on marketable securities&#8221; and &#8220;Income tax benefit,&#8221; respectively. The net difference of $</font><font style='font-family:Times New Roman;font-size:10pt;' >82.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million is reported as a reduction of &#8220;Other comprehensive income (loss).&#8221; </font><font style='font-family:Times New Roman;font-size:10pt;' > </font></p></div> 20868594000 2398000 2173491000 <div><table style='border-collapse:collapse;' ><tr style='height:24.75pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 8 &#8211; SHAREHOLDER&#8217;S DEFICIT</font></td></tr><tr style='height:41.25pt;' ><td colspan='10' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company reports its noncontrolling interests in consolidated subsidiaries as a component of equity separate from the Company&#8217;s equity. The following table shows the changes in shareholder&#8217;s deficit attributable to the Company and the noncontrolling interests of subsidiaries in which the Company has a majority, but not total, ownership interest:</font></td></tr><tr style='height:13.5pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:left;border-color:Black;min-width:71.25pt;' ></td></tr><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands) </font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of January 1, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,889,348)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 224,140 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,665,208)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (754,621)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,131 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (737,490)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (52,384)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (52,384)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase of additional noncontrolling interests</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,819)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,978)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (42,797)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Share-based compensation</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,564 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,359 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,923 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (93,377)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (21,529)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (114,906)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 495 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 58 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 553 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,253)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,013)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,266)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 734 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 808 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (671)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,757 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,086 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of December 31, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(10,784,296)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >177,615 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(10,606,681)</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:30pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company</font></td><td style='width:8.25pt;text-align:center;border-color:Black;min-width:8.25pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Noncontrolling </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Interests</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:80.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:80.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of January 1, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8,942,166)</font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 245,531 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(8,696,635)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Net income (loss)</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (793,761)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 31,603 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (762,158)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividends and other payments to noncontrolling interests</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (40,027)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Purchase of additional noncontrolling interests</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (46,806)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,944)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (48,750)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Share-based compensation</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,970 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,743 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,713 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency translation adjustments</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (101,980)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,898)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (121,878)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unrealized holding gain on marketable securities</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 285 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 42 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other adjustments to comprehensive loss</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (10,214)</font></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,224)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (11,438)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reclassifications</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,317 </font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:269.25pt;text-align:left;border-color:Black;min-width:269.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (993)</font></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,314 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:71.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,321 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balances as of December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,889,348)</font></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 224,140 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:71.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:71.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (9,665,208)</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Dividends</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company has not paid cash </font><font style='font-family:Times New Roman;font-size:10pt;' >dividends</font><font style='font-family:Times New Roman;font-size:10pt;' > since its formation and its ability to pay </font><font style='font-family:Times New Roman;font-size:10pt;' >dividends</font><font style='font-family:Times New Roman;font-size:10pt;' > is subject to restrictions should it seek to do so in the future. </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > debt financing arrangements include restrictions on its ability to pay dividends thereby limiting the Company&#8217;s ability to pay dividends.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >On December 20, 2015, the board of directors of Clear Channel Outdoor Holdings, Inc. </font><font style='font-family:Times New Roman;font-size:10pt;' >(&#8220;CCOH&#8221;) </font><font style='font-family:Times New Roman;font-size:10pt;' >declared a special cas</font><font style='font-family:Times New Roman;font-size:10pt;' >h dividend</font><font style='font-family:Times New Roman;font-size:10pt;' >, which was paid</font><font style='font-family:Times New Roman;font-size:10pt;' > on January 7, 2016</font><font style='font-family:Times New Roman;font-size:10pt;' > to</font><font style='font-family:Times New Roman;font-size:10pt;' > its stockholders of record at the closing of business on January 4, 2016, in an aggregate amount equal to $</font><font style='font-family:Times New Roman;font-size:10pt;' >217.8</font><font style='font-family:Times New Roman;font-size:10pt;' > million. Through our subsidiaries we </font><font style='font-family:Times New Roman;font-size:10pt;' >received</font><font style='font-family:Times New Roman;font-size:10pt;' > $</font><font style='font-family:Times New Roman;font-size:10pt;' >1</font><font style='font-family:Times New Roman;font-size:10pt;' >96.</font><font style='font-family:Times New Roman;font-size:10pt;' >3</font><font style='font-family:Times New Roman;font-size:10pt;' > million of this dividend. The remaining</font><font style='font-family:Times New Roman;font-size:10pt;' > dividend w</font><font style='font-family:Times New Roman;font-size:10pt;' >as</font><font style='font-family:Times New Roman;font-size:10pt;' > paid to C</font><font style='font-family:Times New Roman;font-size:10pt;' >COH</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8217;s </font><font style='font-family:Times New Roman;font-size:10pt;' >public </font><font style='font-family:Times New Roman;font-size:10pt;' >stockholders and </font><font style='font-family:Times New Roman;font-size:10pt;' >will be </font><font style='font-family:Times New Roman;font-size:10pt;' >reflected as a use of cash for financing activities in the first quarter of 2016.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In </font><font style='font-family:Times New Roman;font-size:10pt;' >the first quarter of</font><font style='font-family:Times New Roman;font-size:10pt;' > 2016, CCOH sold </font><font style='font-family:Times New Roman;font-size:10pt;' >nine</font><font style='font-family:Times New Roman;font-size:10pt;' > non-strategic Americas outdoor markets for an aggregate purchase pr</font><font style='font-family:Times New Roman;font-size:10pt;' >ice of </font><font style='font-family:Times New Roman;font-size:10pt;' >approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >602</font><font style='font-family:Times New Roman;font-size:10pt;' > million in cash and certai</font><font style='font-family:Times New Roman;font-size:10pt;' >n advertising assets in Florida</font><font style='font-family:Times New Roman;font-size:10pt;' > (the &#8220;Transactions&#8221;). Following the completion of the Transactions, the board of directors of CCOH made a demand for the repayment of $</font><font style='font-family:Times New Roman;font-size:10pt;' >300.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million outstanding on the Not</font><font style='font-family:Times New Roman;font-size:10pt;' >e and declared special cash dividends in an aggregate amount of $</font><font style='font-family:Times New Roman;font-size:10pt;' >540.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million payable on February 4, 2016. A portion of the proceeds of the Transactions, together with the proceeds from the concurrent $300.0 million repayment of the Note, were used to fu</font><font style='font-family:Times New Roman;font-size:10pt;' >nd the dividends. We received $</font><font style='font-family:Times New Roman;font-size:10pt;' >486.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million </font><font style='font-family:Times New Roman;font-size:10pt;' >of </font><font style='font-family:Times New Roman;font-size:10pt;' >the dividend proceeds ($</font><font style='font-family:Times New Roman;font-size:10pt;' >186.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million net of </font><font style='font-family:Times New Roman;font-size:10pt;' >The Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >repayment of the Note) through three of our wholly-owned subsidiaries, and approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >53.5</font><font style='font-family:Times New Roman;font-size:10pt;' > million was paid to the public st</font><font style='font-family:Times New Roman;font-size:10pt;' >ockholders of CCOH.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Stock Options</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company does not have any compensation plans under which it grants stock awards to employees. Prior to the merger, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > granted options to purchase its common stock to its employees and directors and its affiliates under its various equity incentive plans typically at no less than the fair value of the underlying stock on the date of grant. These options were granted for a</font><font style='font-family:Times New Roman;font-size:10pt;' > term not exceeding ten years and were forfeited, except in certain circumstances, in the event the employee or director terminated his or her employment or relationship with </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > or one of its affiliates. Prior to acceleration, if</font><font style='font-family:Times New Roman;font-size:10pt;' > any, in connection with the merger, these options vested over a period of up to five years. All equity incentive plans contained anti-dilutive provisions that permitted an adjustment of the number of shares of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > common stock</font><font style='font-family:Times New Roman;font-size:10pt;' > represented by each option for any change in capitalization.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Parent has granted options to purchase its shares of Class&#160;A common stock to certain key executives under its equity incentive plan at no less than the fair value of the underlying stock on the</font><font style='font-family:Times New Roman;font-size:10pt;' > date of grant. These options are granted for a term not to exceed ten years and are forfeited, except in certain circumstances, in the event the executive terminates his or </font><font style='font-family:Times New Roman;font-size:10pt;' >her employment or relationship with </font><font style='font-family:Times New Roman;font-size:10pt;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;' > or one of its affiliates. Approximate</font><font style='font-family:Times New Roman;font-size:10pt;' >ly </font><font style='font-family:Times New Roman;font-size:10pt;' >three-fourths of the options </font><font style='font-family:Times New Roman;font-size:10pt;' >outstanding at December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > vest based solely on continued service over a period of up to five years with the remainder becoming eligible to vest over a period of up to five years if certain predetermined performance</font><font style='font-family:Times New Roman;font-size:10pt;' > targets are met. The equity incentive plan contains antidilutive provisions that permit an adjustment</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >for any change in capitalization.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for </font><font style='font-family:Times New Roman;font-size:10pt;' >its share-based payments using the fair value recognition provisions of ASC&#160;718-10. The fair value of the portion of options that vest based on continued service is estimated on the grant date using a Black-Scholes option-pricing model and the fair value </font><font style='font-family:Times New Roman;font-size:10pt;' >of the remaining options which contain vesting provisions subject to service, market and performance conditions is estimated on the grant date using a Monte Carlo model. Expected volatilities were based on historical volatility of peer companies&#8217; stock, i</font><font style='font-family:Times New Roman;font-size:10pt;' >ncluding Parent, over the expected life of the options. The expected life of the options granted represents the period of time that the options granted are expected to be outstanding. The Company used historical data to estimate option exercises and empl</font><font style='font-family:Times New Roman;font-size:10pt;' >oyee terminations within the valuation model. The Company includes estimated forfeitures in its compensation cost and updates the estimated forfeiture rate through the final vesting date of awards. The risk free interest rate is based on the U.S. Treasur</font><font style='font-family:Times New Roman;font-size:10pt;' >y yield curve in effect at the time of grant for periods equal to the expected life of the option. No options were granted during the years ended December 31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='8' rowspan='1' style='width:477pt;text-align:left;border-color:Black;min-width:477pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents a summary of Parent&#39;s stock options outstanding at and stock option activity during the year ended December 31, 2015 (&quot;Price&quot; reflects the weighted average exercise price per share):</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual Term</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,301 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32.85 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (204)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.46 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015 </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,097 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.03 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3.7 years</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,415 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.22 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3.8 years</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to Vest</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 658 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35.55 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >3.3 years</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:center;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:28.5pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='7' rowspan='1' style='width:463.5pt;text-align:left;border-color:Black;min-width:463.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Non-cash compensation expense has not been recorded with respect to 0.6 million shares as the vesting of these options is subject to performance conditions that have not yet been determined probable to meet.</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='8' rowspan='1' style='width:486.75pt;text-align:left;border-color:Black;min-width:486.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A summary of Parent&#8217;s unvested options and changes during the year ended December 31, 2015 is presented below:</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 821 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 13.61 </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font>}</td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (139)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2.32 </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 682 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 15.99 </font></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:66pt;text-align:left;border-color:Black;min-width:66pt;' ></td></tr><tr style='height:29.25pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='7' rowspan='1' style='width:473.25pt;text-align:left;border-color:Black;min-width:473.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The total fair value of the options vested during the years ended December 31, 2015, 2014 and 2013 was $0.3 million, $0.3 million and $6.3 million, respectively.</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Restricted Stock Awards</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Prior to the merger, the Company granted restricted stock awards to its employees and directors and its affiliates under its various equity incentive plans. These common shares held a legend which restricted their transferability for a term of up to five years and were forfeited, except in certain circumstances, in the event the employee or director terminated his or her employment or relationship with the Company prior to the lapse of the restriction. Recipients of the restricted stock awards were entitled to all cash dividends as of the date the award was granted.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Parent has granted restricted stock awards to certain of its employees and affiliates under its equity incentive plan. </font><font style='font-family:Times New Roman;font-size:10pt;' >The restricted stock awards </font><font style='font-family:Times New Roman;font-size:10pt;' >are restricted in transferability for a term of up to five years. R</font><font style='font-family:Times New Roman;font-size:10pt;' >estricted stock awards </font><font style='font-family:Times New Roman;font-size:10pt;' >are forfeited, except in certain circumstances, in the event the employee terminates his or her employment or relationship with Parent prior to the lapse of the restriction. Dividends or distributions paid in respect of unvested res</font><font style='font-family:Times New Roman;font-size:10pt;' >tricted stock awards will be held by Parent and paid to the recipients of the restricted stock awards upon vesting of the shares.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The following table presents a summary of Parent&#39;s restricted stock outstanding and restricted stock activity as of and durin</font><font style='font-family:Times New Roman;font-size:10pt;' >g the year ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' > (&#8220;Price&#8221; reflects the weighted average share price at the date of grant):</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,529 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.02 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,413 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.83 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (446)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.56 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (426)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.21 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,070 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.36 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >CCOH Share-Based Awards</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >CCOH Stock Options</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s subsidiary, CCOH, has granted options to purchase shares of its Class&#160;A common stock to employees and directors of CCOH and its affiliates under its equity incentive plan at no less than the fair </font><font style='font-family:Times New Roman;font-size:10pt;' >market value of the underlying stock on the date of grant. These options are granted for a term not exceeding ten years and are forfeited, except in certain circumstances, in the event the employee or director terminates his or her employment or relations</font><font style='font-family:Times New Roman;font-size:10pt;' >hip with CCOH or one of its affiliates. These options vest solely on continued service over a period of </font><font style='font-family:Times New Roman;font-size:10pt;' >up to five years. The equity incentive stock plan contains anti-dilutive provisions that permit an adjustment </font><font style='font-family:Times New Roman;font-size:10pt;' >for any change in capitalization.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The fair value of each option awarded on CCOH common stock is estimated</font><font style='font-family:Times New Roman;font-size:10pt;' > on the date of grant using a Black-Scholes option-pricing model. Expected volatilities are based o</font><font style='font-family:Times New Roman;font-size:10pt;' >n historical volatility of CCOH&#8217;s stock over the expected life of the options. The expected life of options granted represents the period of time that options granted are expected to be outstanding. CCOH uses historical data to estimate option exercises </font><font style='font-family:Times New Roman;font-size:10pt;' >and employee terminations within the valuation model. CCOH includes estimated forfeitures in its compensation cost and updates the estimated forfeiture rate through the final vesting date of awards. The risk free interest rate is based on the U.S. Treasu</font><font style='font-family:Times New Roman;font-size:10pt;' >ry yield curve in effect at the time of grant for periods equal to the expected life of the option.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following assumptions were used to calculate the fair value of CCOH&#8217;s options on the date of grant:</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:left;border-color:Black;min-width:87pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:276pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:13.5pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected volatility</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >37% &#8211; 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >54% &#8211; 56%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >55% &#8211; 56%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected life in years</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >6.3</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Risk-free interest rate</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.70% &#8211; 2.07%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.73% &#8211; 2.08%</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >1.05% &#8211; 2.19%</font></td></tr><tr style='height:12.75pt;' ><td style='width:256.5pt;text-align:left;border-color:Black;min-width:256.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Dividend yield</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:87pt;text-align:center;border-color:Black;min-width:87pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >0%</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:29.25pt;' ><td colspan='12' rowspan='1' style='width:556.5pt;text-align:left;border-color:Black;min-width:556.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents a summary of CCOH&#8217;s stock options outstanding at and stock option activity during the year ended December 31, 2015:</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:63.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data) </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Average </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Remaining </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Contractual </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Term</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:center;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Aggregate </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Intrinsic </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Value</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,025 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.92 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 921 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.96 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercised </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2) </font>}</td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (622)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.11 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (34)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.74 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expired</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (942)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12.45 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5,348 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.93 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >5.6 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,049 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Exercisable </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,658 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.33 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >4.2 years</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,049 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expected to vest</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,535 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 9.02 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >8.4 years</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:right;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td></tr><tr style='height:31.5pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='11' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The weighted average grant date fair value of CCOH options granted during the years ended December 31, 2015, 2014 and 2013 was $4.25, $4.69 and $4.10 per share, respectively.</font></td></tr><tr style='height:41.25pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font>}</td><td colspan='11' rowspan='1' style='width:543pt;text-align:left;border-color:Black;min-width:543pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Cash received from option exercises during the years ended December 31, 2015, 2014 and 2013 was $3.8 million, $2.4 million and $4.2 million, respectively. The total intrinsic value of the options exercised during the years ended December 31, 2015, 2014 and 2013 was $2.8 million, $1.5 million and $5.0 million, respectively.</font></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(3)</font>}</td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reflects the weighted average exercise price per share.</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:8.25pt;text-align:left;border-color:Black;min-width:8.25pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='8' rowspan='1' style='width:538.5pt;text-align:left;border-color:Black;min-width:538.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >A summary of CCOH&#8217;s unvested options at and changes during the year ended December 31, 2015 is presented below:</font></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:117.75pt;text-align:left;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:38.25pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Options</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Weighted Average Grant Date Fair Value</font></td><td style='width:117.75pt;text-align:center;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,553 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.92 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 921 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.25 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:15.75pt;' ><td style='width:13.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1) </font>}</td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (750)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 5.56 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (34)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.92 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:284.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:284.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Unvested, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,690 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4.27 </font></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' ></td><td style='width:270.75pt;text-align:left;border-color:Black;min-width:270.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ></td><td style='width:117.75pt;text-align:right;border-color:Black;min-width:117.75pt;' ></td></tr><tr style='height:28.5pt;' ><td style='width:13.5pt;text-align:left;border-color:Black;min-width:13.5pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td colspan='7' rowspan='1' style='width:525pt;text-align:left;border-color:Black;min-width:525pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The total fair value of CCOH options vested during the years ended December 31, 2015, 2014 and 2013 was $4.2 million, $6.1 million and $7.1 million, respectively.</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >CCOH Restricted Stock Awards</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >CCOH has also granted both restricted stock and restricted stock unit awards to its employees and affiliates under its equity incentive plan. The restricted stock awards represent shares of Class&#160;A common stock that hold a legend which restricts their tra</font><font style='font-family:Times New Roman;font-size:10pt;' >nsferability for a term of up to five years. The restricted stock units represent the right to receive shares upon vesting, which is generally over a period of up to five years. Both restricted stock awards and restricted stock units are forfeited, excep</font><font style='font-family:Times New Roman;font-size:10pt;' >t in certain circumstances, in the event the employee terminates his or her employment or relationship with CCOH prior to the lapse of the restriction.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:27.75pt;' ><td colspan='8' rowspan='1' style='width:540.75pt;text-align:left;border-color:Black;min-width:540.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents a summary of CCOH&#8217;s restricted stock and restricted stock units outstanding at and activity during the year ended December 31, 2015 (&quot;Price&quot; reflects the weighted average share price at the date of grant):</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:left;border-color:Black;min-width:56.25pt;' ></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Awards</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:65.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:65.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Price</font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, January 1, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,458 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7.54 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Granted</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 702 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10.35 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Vested (restriction lapsed)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (340)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6.13 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:276pt;text-align:left;border-color:Black;min-width:276pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Forfeited</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (58)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.39 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:283.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:283.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Outstanding, December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:56.25pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,762 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:56.25pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:56.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8.43 </font></td><td style='width:120.75pt;text-align:left;border-color:Black;min-width:120.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Share-Based Compensation Cost</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the vesting period. Share-based compensation payments are </font><font style='font-family:Times New Roman;font-size:10pt;' >recorded in corporate expenses and were </font><font style='font-family:Times New Roman;font-size:10pt;' >$10.9</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million, $10.7&#160;million and $16.7&#160;million, during the years ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The tax benefit </font><font style='font-family:Times New Roman;font-size:10pt;' >related to the share-based compensation expense for the years</font><font style='font-family:Times New Roman;font-size:10pt;' > ended December&#160;31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2015, 2014 and 2013</font><font style='font-family:Times New Roman;font-size:10pt;' > was </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >4.2</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' >, $</font><font style='font-family:Times New Roman;font-size:10pt;' >4.1</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million and $</font><font style='font-family:Times New Roman;font-size:10pt;' >6.3</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million, respectively.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >As of December&#160;31, 201</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >there was $</font><font style='font-family:Times New Roman;font-size:10pt;' >26.5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million of</font><font style='font-family:Times New Roman;font-size:10pt;' > unrecognized compensation cost</font><font style='font-family:Times New Roman;font-size:10pt;' > related to unvested share-based compensation arrangements that will vest </font><font style='font-family:Times New Roman;font-size:10pt;' >based on service conditions. This cost is expected to be recognized </font><font style='font-family:Times New Roman;font-size:10pt;' >over a weighted average period of approximately three years. In addition, as of December&#160;31, 201</font><font style='font-family:Times New Roman;font-size:10pt;' >5</font><font style='font-family:Times New Roman;font-size:10pt;' >, there was $</font><font style='font-family:Times New Roman;font-size:10pt;' >25.</font><font style='font-family:Times New Roman;font-size:10pt;' >7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;' > of unrecognized compensation cost related to unvested share-bas</font><font style='font-family:Times New Roman;font-size:10pt;' >ed compensation arrangements that will vest based on market, performance and service conditions. This cost will be recognized when it becomes probable that the performance condition will be satisfied.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Parent completed a voluntary stock option exchange pr</font><font style='font-family:Times New Roman;font-size:10pt;' >ogram on November&#160;19, 2012 and exchanged </font><font style='font-family:Times New Roman;font-size:10pt;' >2.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million stock options granted under the Clear Channel 2008&#160;Executive Incentive Plan for </font><font style='font-family:Times New Roman;font-size:10pt;' >1.8</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million replacement restricted share awards with different service and performance conditions. Parent accounted for the</font><font style='font-family:Times New Roman;font-size:10pt;' > exchange program as a modification of the existing awards under ASC&#160;718 and will recognize incremental compensation expense of approximately $</font><font style='font-family:Times New Roman;font-size:10pt;' >1.7</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million over the service period of the new awards. In connection with the exchange program, Parent granted an</font><font style='font-family:Times New Roman;font-size:10pt;' > additional </font><font style='font-family:Times New Roman;font-size:10pt;' >1.5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million restricted stock awards pursuant to a tax assistance program offered to employees participating in the exchange. Of the total </font><font style='font-family:Times New Roman;font-size:10pt;' >1.5</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million restricted stock awards granted, </font><font style='font-family:Times New Roman;font-size:10pt;' >0.9</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million were repurchased by Parent upon expiration of th</font><font style='font-family:Times New Roman;font-size:10pt;' >e exchange program while the remaining </font><font style='font-family:Times New Roman;font-size:10pt;' >0.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million awards were forfeited. Parent recognized $</font><font style='font-family:Times New Roman;font-size:10pt;' >2.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million of expense related to the awards granted in connection with the tax assistance program.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 47491000 0 1610636000 1014432000 0 -47314000 0 14852000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Income Taxes</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company accounts for income taxes using the liability method. Under this method, deferred tax assets and liabilities are determined</font><font style='font-family:Times New Roman;font-size:10pt;' > based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be r</font><font style='font-family:Times New Roman;font-size:10pt;' >ealized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely than not that some portion or the entire asset will not be realized. Generally all earnings from the Company&#8217;s foreign operations are pe</font><font style='font-family:Times New Roman;font-size:10pt;' >rmanently reinvested and not distributed. The Company has not provided U.S. federal income taxes for temporary differences with respect to investments in foreign subsidiaries, which at December 31, 2015 currently result in tax basis amounts greater than th</font><font style='font-family:Times New Roman;font-size:10pt;' >e financial reporting basis. It is not apparent that these unrecognized deferred tax assets will reverse in the foreseeable future. If any excess cash held by our foreign subsidiaries were needed to fund operations in the United States, we could presentl</font><font style='font-family:Times New Roman;font-size:10pt;' >y repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of significant deficits, as calculated for tax law purposes, in our foreign earnings and profits, which gives us flexibility to make future cash distributions</font><font style='font-family:Times New Roman;font-size:10pt;' > as non-taxable returns of capital. We regularly review our tax liabilities on amounts that may be distributed in future periods and provide for foreign withholding and other current and deferred taxes on any such amounts. The determination of the amount</font><font style='font-family:Times New Roman;font-size:10pt;' > of federal income taxes, if any, that might become due in the event that our foreign earnings are distributed is not practicable</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div> 457024000 -291520000 -21080000 3328000 4100000 <div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='13' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;border-color:Black;min-width:204pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2015</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2014</font></td></tr><tr style='height:26.25pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td></tr><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Transit, street furniture and other outdoor</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > contractual rights</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 635,772 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (457,060)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 716,723 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (476,523)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Customer / advertiser relationships</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,222,518 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (891,488)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,222,518 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (765,596)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Talent contracts</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,384 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (252,526)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,384 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (223,936)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Representation contracts</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 239,142 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (217,770)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,313 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (206,338)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Permanent easements</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 156,349 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 171,271 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 394,983 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (195,644)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 388,160 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (177,249)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:204pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,968,148 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,014,488)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,056,369 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,849,642)</font></td></tr></table></div> 228000 83241000 1084865000 1800000 0 4.92 10713000 -33654000 1170000000 191572000 204514000 2223540000 8849000 2019-12-15 -9889348000 29605000 20243000 1413000 34000 5.83 27256000 535000000 314000 0.0575 2100000000 -45265000 0 0 2810883000 189055000 1391880000 21631000 -5269000 -1554898000 5764000 265000 15468000 3184000 115215000 137942000 34416000 0 0 0 0 -47503000 -1946000 2212556000 -11438000 0 0 0 83142000 431114000 103000000 -251127000 44512000 0 81598000 298250000 1741596000 130267000 0 0 0 -246284000 98506000 0 18467000 110410000 165000 94001000 0000739708 -126905000 820676000 210924000 -101401000 27385000 1172777000 12890000 11540000 27705000 203928000 1600000000 80592000 22077000 0 0.085 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Derivative Instruments and Hedging Activities</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Prior to the expiration of the Company&#8217;s interest rate swap agreement on September&#160;30, 2013, the provisions of ASC&#160;815-10 required the Company to recognize</font><font style='font-family:Times New Roman;font-size:10pt;' > it as either an asset or liability in the consolidated balance sheet at </font><font style='font-family:Times New Roman;font-size:10pt;' >fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship, and fur</font><font style='font-family:Times New Roman;font-size:10pt;' >ther, on the type of hedging relationship. The interest rate swap was designated and qualified as a hedging instrument, and was characterized as a cash flow hedge. The Company formally documented all relationships between hedging instruments and hedged i</font><font style='font-family:Times New Roman;font-size:10pt;' >tems, as well as its risk management objectives and strategies for undertaking various hedge transactions. The Company formally assessed, both at inception and at least quarterly thereafter prior to expiration, whether the derivatives that were used in he</font><font style='font-family:Times New Roman;font-size:10pt;' >dging transactions were highly effective in offsetting changes in either the fair value or cash flows of the hedged item.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 108800000 16269000 0 95400000 0 48750000 0.0173 0 4.1 955767000 0 6846000 --12-31 134700000 2015 19700000000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='7' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents the activity related to the Company&#8217;s asset retirement obligation:</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:160.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:160.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Years Ended December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 54,211 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 59,380 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustment due to changes in estimates </font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,082 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,391)</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accretion of liability</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >754 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,858 </font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Liabilities settled</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (6,105)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,802)</font></td></tr><tr style='height:12.75pt;' ><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:370.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:370.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign Currency</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,886)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,834)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Ending balance</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 48,056 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 54,211 </font></td></tr></table></div> 40027000 71300000 1066748000 0000739708 1445340000 22640000 10273000 -14421000 -87868000 14002449000 8.74 25348000 <div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='17' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;color:#000000;' >NOTE 12 &#8212; QUARTERLY RESULTS OF OPERATIONS (Unaudited)</font></td></tr><tr style='height:12.75pt;' ><td colspan='17' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands, except per share data)</font></td></tr><tr style='height:12.75pt;' ><td colspan='5' rowspan='1' style='width:216pt;text-align:left;border-color:Black;min-width:216pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:25.5pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >March 31,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >June 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >September 30,</font></td><td style='width:1.5pt;text-align:center;border-color:Black;min-width:1.5pt;' ></td><td colspan='3' rowspan='1' style='width:106.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:106.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Three Months Ended </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:1.5pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,344,564 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,342,548 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,599,859 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,154 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,579,514 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,630,034 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,717,579 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $1,715,797 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating expenses:</font></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 578,519 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 599,178 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 615,265 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 645,915 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 627,842 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 648,766 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 651,719 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 651,589 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 416,188 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 413,146 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 424,163 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 417,883 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 428,967 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 426,902 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 432,237 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 418,194 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 77,288 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 72,705 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 80,592 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,197 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 74,542 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 78,202 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 83,142 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 87,227 </font></td></tr><tr style='height:24pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 170,453 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,871 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 168,394 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 174,062 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 166,320 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 175,865 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 168,824 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 186,100 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,902 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 21,631 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 35 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,239 </font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,974)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 165 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 100,754 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,628)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 6,914 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,172 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,693)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,678)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 93,142 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 82,813 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 412,199 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 303,567 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 267,126 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,436 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 376,964 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,770 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Interest expense</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 441,771 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 431,114 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 452,957 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 440,605 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,921 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 432,616 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 456,847 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 437,261 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > investments, net</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 579 </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,000)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Equity in earnings (loss) of</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > nonconsolidated affiliates</font></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 331 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (13,326)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (690)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (16)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (857)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,955 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 314 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (29)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Gain (loss) on extinguishment</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > of debt</font></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,201)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3,916)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (47,503)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (4,840)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,912 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other income (expense), net</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 19,891 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,541 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 16,211 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 12,157 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (17,976)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,617 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,070)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (7,211)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income (loss) before</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income taxes</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (330,029)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (364,002)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (25,237)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (172,400)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (210,628)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,448)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (84,639)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (83,819)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Income tax benefit (expense)</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (56,605)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (68,388)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (22,077)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 621 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,841)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,376)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,434)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 33,654 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated net</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > income (loss)</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (386,634)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (432,390)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (47,314)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (171,779)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (213,469)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (107,824)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (90,073)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (50,165)</font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Less amount attributable to </font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > noncontrolling interest</font></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,668)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (8,200)</font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,152 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,852 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 8,448 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 7,028 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,199 </font></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,923 </font></td></tr><tr style='height:24pt;' ><td colspan='2' rowspan='1' style='width:109.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:109.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Net income (loss)</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > attributable to the Company</font></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(384,966)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(424,190)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(54,466)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(186,631)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(221,917)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(114,852)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(93,272)</font></td><td style='width:1.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:52.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > $(68,088)</font></td></tr><tr style='height:12.75pt;' ><td style='width:2.25pt;text-align:left;border-color:Black;min-width:2.25pt;' ></td><td style='width:107.25pt;text-align:left;border-color:Black;min-width:107.25pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td><td style='width:1.5pt;text-align:left;border-color:Black;min-width:1.5pt;' ></td><td style='width:52.5pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:52.5pt;' ></td></tr></table></div> 359159000 0 -734000 2970000 0 1800000000 648766000 1000000 32396000 56605000 97000 0 -17976000 19891000 526571000 -878432000 -123811000 315564000 17131000 2564000 315654000 28490000 0 192900000 31000 74114000 <div><table style='border-collapse:collapse;' ><tr style='height:24.75pt;' ><td colspan='21' rowspan='1' style='width:546.75pt;text-align:justify;border-color:Black;min-width:546.75pt;' ></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td></tr><tr style='height:48.75pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >iHM</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate and other reconciling items</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:58.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:58.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Eliminations</font></td><td style='width:3pt;text-align:center;border-color:Black;min-width:3pt;' ></td><td colspan='2' rowspan='1' style='width:60.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:60.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:546.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:546.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2015</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,284,320 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,349,021 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,457,183 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 164,296 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (13,304)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,241,516 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 972,937 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 597,382 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 897,520 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 12,619 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (7,113)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,473,345 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,065,716 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 233,254 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 298,250 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 110,526 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (6,191)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,701,555 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 240,230 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 204,514 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 166,060 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 26,386 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 36,801 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 673,991 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 21,631 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 21,631 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 315,564 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 315,564 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 94,001 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 94,001 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,005,437 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,871 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 95,353 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,765 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (279,995)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,149,431 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,744 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,560 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 13,304 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,534,972 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,567,764 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,581,710 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 238,599 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,094,345 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (196,292)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 13,821,098 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 59,007 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 82,165 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 132,554 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,846 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 15,808 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 296,380 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,923 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,923 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:546.75pt;text-align:left;border-color:Black;min-width:546.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2014</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,161,503 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,350,623 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,610,636 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 212,676 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (16,905)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,318,533 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 932,172 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 605,771 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 991,117 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,009 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (7,621)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,545,448 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,014,432 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 233,641 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 314,878 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 122,448 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (9,274)</font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,676,125 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 240,868 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 203,928 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 198,143 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 33,543 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,416 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 710,898 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 24,176 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,341 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (10)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 320,331 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 40,031 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 974,031 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 307,283 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 106,498 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 32,676 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (338,902)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,081,586 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,436 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 13,459 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,905 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,720,181 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,664,574 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,680,598 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 277,388 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 659,708 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,002,449 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 50,403 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 109,727 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 117,480 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 5,744 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 34,810 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 318,164 </font></td></tr><tr style='height:24.75pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 10,713 </font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:left;border-color:Black;min-width:49.5pt;' ></td><td style='width:3pt;text-align:left;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:left;border-color:Black;min-width:51.75pt;' ></td></tr><tr style='height:12pt;' ><td colspan='21' rowspan='1' style='width:540pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:9pt;font-weight:bold;color:#000000;' >Year Ended December 31, 2013</font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Revenue</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,131,595 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,385,757 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,560,433 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 181,993 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (16,734)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 6,243,044 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Direct operating expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 955,767 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 610,750 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 983,978 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 25,271 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (8,556)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,567,210 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Selling, general and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > administrative expenses</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 982,514 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 243,456 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 300,116 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 118,830 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (8,178)</font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,636,738 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Depreciation and</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > amortization</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 262,136 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 206,031 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 194,493 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 39,291 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 28,877 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 730,828 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Impairment charges</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,970 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Corporate expenses</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 313,514 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Other operating income, net</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:49.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:51.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 22,998 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Operating income (loss)</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 931,178 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 325,520 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 81,846 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (1,399)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > (336,363)</font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,000,782 </font></td></tr><tr style='height:13.5pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Intersegment revenues</font></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 2,473 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 14,261 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;border-top-style:double;border-top-width:3;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;border-top-style:double;border-top-width:3;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,734 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Segment assets</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 7,933,564 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 3,823,347 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 1,899,648 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 534,363 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 854,413 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 15,045,335 </font></td></tr><tr style='height:12pt;' ><td style='width:110.25pt;text-align:left;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Capital expenditures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 75,742 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 96,590 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 100,949 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 9,933 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 41,312 </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 324,526 </font></td></tr><tr style='height:24pt;' ><td style='width:110.25pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:110.25pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >Share-based compensation</font><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > expense</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:49.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:49.5pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > - </font></td><td style='width:3pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' >$</font></td><td style='width:51.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:51.75pt;' ><font style='font-family:Times New Roman;font-size:9pt;color:#000000;' > 16,715 </font></td></tr></table></div> 3436000 198143000 0 10713000 645915000 -171779000 52169000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Foreign Currency</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Results of operations for foreign subsidiaries and foreign equity investees are translated into U.S. dollars using the average exchange rates</font><font style='font-family:Times New Roman;font-size:10pt;' > during the year. The assets and liabilities of those subsidiaries and investees are translated into U.S. dollars using the exchange rates at the balance sheet date. The related translation adjustments are recorded in a separate component of </font><font style='font-family:Times New Roman;font-size:10pt;' >shareholder&#8217;s</font><font style='font-family:Times New Roman;font-size:10pt;' > deficit, &#8220;Accumulated other comprehensive loss&#8221;. Foreign currency transaction gains and losses are included in operations.</font></p></div> 0.5 48600000 0.1175 0 4.69 186500000 16970000 1581710000 0 5500000 305300000 0 0 14261000 28900000 2400000 339800000 0 369900000 1999815000 0.10625 305300000 682000 5348000 300000 2800000 1500000 1560433000 41312000 49182000 55040000 149107000 -5000 2326000 -327000 Payable semi-annually in arrears on June 15 and December 15 of each year 3821000 48300000 0 35.03 6100000 0 3823347000 289000000 0 -1399000 82300000 -28318000 50403000 10000 3161503000 -16000 3200000 0 0 -20000 575000000 0 51300000 1415000 658000 P6Y4M P6Y4M 42881000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs, </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Write-off</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance</font></td></tr><tr style='height:13.5pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Accounts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at End of </font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,040 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,243 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,272 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 734 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,745 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,745 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,167 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,014 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,502)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,396 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,396 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 30,579 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,310 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,776)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,889 </font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:15.75pt;' ><td colspan='16' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Primarily foreign currency adjustments and acquisition and/or divestiture activity.</font></td></tr></table></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance </font></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at end of</font></td></tr><tr style='height:15.75pt;' ><td style='width:146.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reversal </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustments</font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,686 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 149,107 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,165)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 356,583 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (230)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (28,318)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 314,098 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (457)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,723)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,576 </font></td></tr></table></div> 327623000 25271000 0 0 0 The indentures governing the Subsidiary Senior Notes contain covenants that limit CCOH and its restricted subsidiaries ability to, among other things: incur or guarantee additional debt or issue certain preferred stock; in case of the Senior Notes, create liens on its restricted subsidiaries’ assets to secure such debt; create restrictions on the payment of dividends or other amounts; enter into certain transactions with affiliates; merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of its assets; and in the case of the Series B CCWH Senior Notes and the Series B CCWH Senior Subordinated Notes, sell certain assets, including capital stock of its subsidiaries 32396000 754000 0.37 0.54 600000 300000000 118830000 0 0 0 96590000 100949000 7720181000 263400000 10700000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >SCHEDULE II</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >VALUATION AND QUALIFYING ACCOUNTS</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Allowance</font><font style='font-family:Times New Roman;font-size:10pt;' > for Doubtful Accounts</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs, </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Write-off</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance</font></td></tr><tr style='height:13.5pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Accounts</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at End of </font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Receivable</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 55,040 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 20,243 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 28,272 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 734 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,745 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 47,745 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 14,167 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 27,014 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,502)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,396 </font></td></tr><tr style='height:20.25pt;' ><td style='width:138.75pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:138.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 32,396 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 30,579 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 26,310 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,776)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 34,889 </font></td></tr><tr style='height:12.75pt;' ><td style='width:138.75pt;text-align:left;border-color:Black;min-width:138.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ></td></tr><tr style='height:15.75pt;' ><td colspan='16' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' >^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > Primarily foreign currency adjustments and acquisition and/or divestiture activity.</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >SCHEDULE II</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >VALUATION AND QUALIFYING ACCOUNTS</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Deferred Tax Asset Valuation Allowance</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Charges</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance at </font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >to Costs,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance </font></td></tr><tr style='height:12.75pt;' ><td style='width:146.25pt;text-align:center;border-color:Black;min-width:146.25pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Beginning</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Expenses</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >at end of</font></td></tr><tr style='height:15.75pt;' ><td style='width:146.25pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Description</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >of Period</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >and other </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(1)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Reversal </font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >(2)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Adjustments</font>^{<font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (3)</font>}</td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:72.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:72.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Period</font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2013</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 183,686 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 149,107 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (5,165)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2014</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 327,623 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 356,583 </font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (230)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (28,318)</font></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td></tr><tr style='height:20.25pt;' ><td style='width:146.25pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:146.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Year ended December 31, 2015</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 655,658 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 314,098 </font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (457)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (24,723)</font></td><td style='width:7.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:63.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:63.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 944,576 </font></td></tr></table></div><p style='line-height:20pt;' /><div><ul><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >During </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, the Company recorded valuation allowances on deferred tax assets attributable to net operating losses in certain foreign jurisdictions. In addition, during </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > the Company recorded a valuation allowance of $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >339.8</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >&#160;million</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and $</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >305.3</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > million, respectively,</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > on a portion of its deferred tax assets attributable to federal and state net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > due to the uncertainty of the ability to utilize thos</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >e losses in future periods.</font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >During </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >, </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > and </font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company realized the tax benefits associated with certain foreign deferred tax assets, primarily related to foreign loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' >, on which a valuation allowance was previously reco</font><font style='font-family:Times New Roman;font-size:10pt;' >rded. The associated valuation allowance was reversed in the period in which, based on the weight of available evidence, it is more-likely-than-not that the deferred tax asset will be realized.</font></li><li style='list-style:decimal;text-align:left;margin-top:0pt;margin-bottom:3pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >During </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' >, </font><font style='font-family:Times New Roman;font-size:10pt;' >2014</font><font style='font-family:Times New Roman;font-size:10pt;' > and </font><font style='font-family:Times New Roman;font-size:10pt;' >2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company adjusted ce</font><font style='font-family:Times New Roman;font-size:10pt;' >rtain valuation allowances as a result of changes in tax rates in certain jurisdictions and as a result of the expiration of </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforward</font><font style='font-family:Times New Roman;font-size:10pt;' > periods for net operating loss </font><font style='font-family:Times New Roman;font-size:10pt;' >carryforwards</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></li></ul></div> 28272000 734000 -5165000 655658000 100000000 26310000 356583000 8800000 0 -15820000 0 5000000 135500000 177615000 5.36 217800000 0 931178000 325520000 -2502000 47546000 0 130900000 Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year Payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year 9856000 4294000 -10784296000 32.85 2016-01-07 0 7534972000 854413000 314098000 28900000 20200000 204000 5.02 0.0105 0.0207 1690000 2016-01-04 610750000 983978000 0 22998000 0 16715000 1899648000 0 -24723000 -457000 35000000 3087000 2301000 9.92 982514000 206031000 0 81846000 -336363000 0 15045335000 14167000 183686000 0.2 376 -13000 0 63200000 110400000 13.61 0.017 -16734000 39291000 0 75742000 0 0 1944000 47745000 -1776000 -230000 944576000 8200000 205700000 13100000 1140000000 103208000 0.55 6025000 300000 53500000 1385757000 -8178000 262136000 0 3664574000 1680598000 3925000 49182000 1000000000 175000000 821000 0.56 486500000 313514000 9933000 277388000 0 0 20243000 10.46 4529000 7100000 243456000 28877000 0 238599000 7933564000 0.12 2023-03-15 103900000 106914000 6300000 602000000 3131595000 -196292000 9 0 1942000 -220783000 -2400000 -11500000 15600000 0.0875 147700000 2097000 0 534363000 The indenture governing the Clear Channel International B.V. Senior Notes contains covenants that limit Clear Channel International B.V.’s ability and the ability of its restricted subsidiaries to, among other things: • pay dividends, redeem stock or make other distributions or investments; • incur additional debt or issue certain preferred stock; • transfer or sell assets; • create liens on assets; • engage in certain transactions with affiliates; • create restrictions on dividends or other payments by the restricted subsidiaries; and • merge, consolidate or sell substantially all of Clear Channel International B.V.’s assets. 30579000 0 -7211000 388160000 23366000 2142350000 0 2.32 237500000 305311000 942000 82813000 327000 0 0 8300278000 <div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='6' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Property, Plant and Equipment</font></td></tr><tr style='height:28.5pt;' ><td colspan='6' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company&#8217;s property, plant and equipment consisted of the following classes of assets as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:right;border-color:Black;min-width:379.5pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Land, buildings and improvements</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 603,234 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 731,925 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Structures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,824,794 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,999,582 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Towers, transmitters and studio equipment</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,877 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,044 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Furniture and other equipment</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 591,149 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 536,255 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Construction in progress</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69,042 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 95,671 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,436,096 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,816,477 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: accumulated depreciation</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,223,540 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,117,413 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Property, plant and equipment, net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,212,556 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,699,064 </font></td></tr></table></div> 36801000 -606883000 993000 0 2824794000 0 0 264907000 -0.01 15161000 1160000000 453044000 0.07625 8359000 2968148000 279100000 1149431000 27848000 -77304000 -553000 730000000 -17795000 0 34810000 212676000 16211000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Use of Estimates</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) requires management to make estimates, judgments, and assumptions that affect the amounts reported in the </font><font style='font-family:Times New Roman;font-size:10pt;' >consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under t</font><font style='font-family:Times New Roman;font-size:10pt;' >he circumstances. Actual results could differ from those estimates.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Intangible Assets</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s indefi</font><font style='font-family:Times New Roman;font-size:10pt;' >nite-lived intangible assets include FCC broadcast licenses in its </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment and billboard permits in its Americas outdoor advertising segment. The Company&#8217;s indefinite-lived intangible assets are not subject to amortization, but are tested for impairme</font><font style='font-family:Times New Roman;font-size:10pt;' >nt at least annually. The Company tests for possible impairment of indefinite-lived intangible assets whenever events or changes in circumstances, such as a significant reduction in operating cash flow or a dramatic change in the manner for which the asset</font><font style='font-family:Times New Roman;font-size:10pt;' > is intended to be used indicate that the carrying amount of the asset may not be recoverable.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company performs its annual impairment test for its FCC licenses and permits using a direct valuation technique as prescribed in ASC&#160;805-20-S99. The Compan</font><font style='font-family:Times New Roman;font-size:10pt;' >y engages </font><font style='font-family:Times New Roman;font-size:10pt;' >Corporate Valuation Consulting LLC (formerly </font><font style='font-family:Times New Roman;font-size:10pt;' >a </font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Financial Consulting Practice)</font><font style='font-family:Times New Roman;font-size:10pt;' >, a third party valuation firm, to assist the Company in the development of these assumptions and the Company&#8217;s determination of the fair value of its FCC licens</font><font style='font-family:Times New Roman;font-size:10pt;' >es and permits.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other intangible assets include definite-lived intangible assets and permanent easements. The Company&#8217;s definite-lived intangible assets include primarily transit and street furniture contracts, talent and representation contracts, </font><font style='font-family:Times New Roman;font-size:10pt;' >customer and advertiser relationships, and site-leases, all of which are amortized over the respective lives of the agreements, or over the period of time the assets are expected to contribute directly or indirectly to the Company&#8217;s future cash flows. The</font><font style='font-family:Times New Roman;font-size:10pt;' > Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at cost. Permanent easements are indefinite-lived intangible assets which include certain rights to us</font><font style='font-family:Times New Roman;font-size:10pt;' >e real property not owned by the Company.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company tests for possible impairment of other intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets</font><font style='font-family:Times New Roman;font-size:10pt;' > are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value.</font></p><p style='text-align:left;line-height:12pt;' ></p></div> 0 0 0 -236603000 Payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year 175000000 0.11 15.99 0 2762000 4.25 196300000 -8556000 194493000 0 659708000 2473000 21600000 27014000 34889000 318164000 <div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;margin-left:0pt;' >NOTE 2 &#8211; </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' >Property, plant and equipment, </font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' >INTANGIBLE</font><font style='font-family:Times New Roman;font-size:11pt;font-weight:bold;' > ASSETS AND GOODWILL</font></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Dispositions</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During the</font><font style='font-family:Times New Roman;font-size:10pt;' > first quarter of 2015</font><font style='font-family:Times New Roman;font-size:10pt;' >, the Company sold </font><font style='font-family:Times New Roman;font-size:10pt;' >two</font><font style='font-family:Times New Roman;font-size:10pt;' > office building</font><font style='font-family:Times New Roman;font-size:10pt;' >s</font><font style='font-family:Times New Roman;font-size:10pt;' > located in San Antonio, T</font><font style='font-family:Times New Roman;font-size:10pt;' >exas</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >for </font><font style='font-family:Times New Roman;font-size:10pt;' >$3</font><font style='font-family:Times New Roman;font-size:10pt;' >4</font><font style='font-family:Times New Roman;font-size:10pt;' >.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million. Concurrently with the sale of these properties, the Company entered into lease agreements for the continued use of the buildings, pursuant to which the Company will have annual lease payments of $2.6 million. The Company recognized a gain of $8</font><font style='font-family:Times New Roman;font-size:10pt;' >.1 million on the sale of </font><font style='font-family:Times New Roman;font-size:10pt;' >one of the buildings</font><font style='font-family:Times New Roman;font-size:10pt;' >, which </font><font style='font-family:Times New Roman;font-size:10pt;' >is being</font><font style='font-family:Times New Roman;font-size:10pt;' > recognized over the term of the lease. </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2015, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > entered into a sale-leaseback arrangement, in which </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > sold 376 of our broadcast communication tower sites and related assets for $369.9 million. Simultaneous with the sales, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > entered into lease agreements for the continued use of </font><font style='font-family:Times New Roman;font-size:10pt;' >space on </font><font style='font-family:Times New Roman;font-size:10pt;' >367 of the towers sold. Upon completion of the transactio</font><font style='font-family:Times New Roman;font-size:10pt;' >ns, </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' > realized a net gain of $2</font><font style='font-family:Times New Roman;font-size:10pt;' >10.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million, of which $10</font><font style='font-family:Times New Roman;font-size:10pt;' >9.0</font><font style='font-family:Times New Roman;font-size:10pt;' > million was deferred and will be recognized over the lease term. The leases entered into as a part of these transactions are for a term of fifteen years and include three optional five</font><font style='font-family:Times New Roman;font-size:10pt;' >-year renewal per</font><font style='font-family:Times New Roman;font-size:10pt;' >iods. The Company incurred $13.3</font><font style='font-family:Times New Roman;font-size:10pt;' > million in operating lease expense in relation to these agreements in the </font><font style='font-family:Times New Roman;font-size:10pt;' >year </font><font style='font-family:Times New Roman;font-size:10pt;' >ended December 31, 2015. </font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' > </font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >On January 15, 2016, the Company&#8217;s Parent and certain of the Company&#8217;s subsidiaries completed the f</font><font style='font-family:Times New Roman;font-size:10pt;' >inal closing for the sale of six of the Company&#8217;s broadcast communication tower sites and related assets for approximately $5.5 million</font><font style='font-family:Times New Roman;font-size:10pt;' >. Simultaneous with the sale, the Company entered into lease agreements for the continued use of space on </font><font style='font-family:Times New Roman;font-size:10pt;' >all six of the</font><font style='font-family:Times New Roman;font-size:10pt;' > towers sold.</font></p></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During the first quarter of</font><font style='font-family:Times New Roman;font-size:10pt;' > 2016, Americas outdoor sold </font><font style='font-family:Times New Roman;font-size:10pt;' >nine non-strategic outdoor markets including Cleveland and Columbus, Ohio, Des Moines, Iowa, Ft. Smith, Arkansas, Memphis, Tennessee, Portland, Oregon, Reno, Nevada, Seattle, Washington</font><font style='font-family:Times New Roman;font-size:10pt;' > and Wichita, Kansas for approximately $602 million in cash and certain advertising assets in Florida.</font><font style='font-family:Times New Roman;font-size:10pt;' > As of December 31, 2015, </font><font style='font-family:Times New Roman;font-size:10pt;' >eight of </font><font style='font-family:Times New Roman;font-size:10pt;' >these </font><font style='font-family:Times New Roman;font-size:10pt;' >disposals</font><font style='font-family:Times New Roman;font-size:10pt;' > met the criteria to be classified as held-for-sale</font><font style='font-family:Times New Roman;font-size:10pt;' > and as such, the related assets are separately pres</font><font style='font-family:Times New Roman;font-size:10pt;' >ented on the face of the Consolidated Balance Sheet</font><font style='font-family:Times New Roman;font-size:10pt;' >. </font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='6' rowspan='1' style='width:540pt;text-align:left;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;color:#000000;' >Property, Plant and Equipment</font></td></tr><tr style='height:28.5pt;' ><td colspan='6' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The Company&#8217;s property, plant and equipment consisted of the following classes of assets as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:right;border-color:Black;min-width:379.5pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31,</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2015</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2014</font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Land, buildings and improvements</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 603,234 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 731,925 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Structures</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,824,794 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,999,582 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Towers, transmitters and studio equipment</font></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 347,877 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 453,044 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Furniture and other equipment</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 591,149 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 536,255 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Construction in progress</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 69,042 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 95,671 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,436,096 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,816,477 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Less: accumulated depreciation</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,223,540 </font></td><td style='width:7.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,117,413 </font></td></tr><tr style='height:12.75pt;' ><td style='width:379.5pt;text-align:left;border-color:Black;min-width:379.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Property, plant and equipment, net</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,212,556 </font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,699,064 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Indefinite-lived Intangible Assets</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s indefinite-lived intangible assets consist of FCC broadcast licenses and billboard permits. FCC broadcast licenses are granted to radio stations for up to eight years under the Telecommunications Act of </font><font style='font-family:Times New Roman;font-size:10pt;' >1996 (the &#8220;Act&#8221;). The Act requires the FCC to renew a broadcast license if the FCC finds that the station has served the public interest, convenience and necessity, there have been no serious violations of either the Communications Act of 1934 or the FCC&#8217;</font><font style='font-family:Times New Roman;font-size:10pt;' >s rules and regulations by the licensee, and there have been no other serious violations which taken together constitute a pattern of abuse. The licenses may be renewed indefinitely at little or no cost. The Company does not believe that the technology o</font><font style='font-family:Times New Roman;font-size:10pt;' >f wireless broadcasting will be replaced in the foreseeable future.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s billboard permits are granted for the right to operate an advertising structure at the specified location as long as the structure is in compliance with the laws and regulat</font><font style='font-family:Times New Roman;font-size:10pt;' >ions of each jurisdiction. The Company&#8217;s permits are located on owned land, leased land or land for which we have acquired permanent easements. In cases where the Company&#8217;s permits are located on leased land, the leases typically have initial terms of be</font><font style='font-family:Times New Roman;font-size:10pt;' >tween 10 and 20 years and renew indefinitely, with rental payments generally escalating at an inflation-based index. If the Company loses its lease, the Company will typically obtain permission to relocate the permit or bank it with the municipality for f</font><font style='font-family:Times New Roman;font-size:10pt;' >uture use. Due to significant differences in both business practices and regulations, billboards in the International outdoor segment are subject to long-term, finite contracts unlike the Company&#8217;s permits in the United States and Canada. Accordingly, the</font><font style='font-family:Times New Roman;font-size:10pt;' >re are no indefinite-lived intangible assets in the International outdoor segment.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Annual Impairment Test to FCC Licenses and Billboard Permits</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Historically, the Company performed its annual impairment test on indefinite-lived intangible assets as of Octo</font><font style='font-family:Times New Roman;font-size:10pt;' >ber 1 of each year. Beginning in the third quarter of 2015, the Company began performing its annual impairment test on July 1 of each year. </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The impairment tests for indefinite-lived intangible assets consist of a comparison between the fair value of t</font><font style='font-family:Times New Roman;font-size:10pt;' >he indefinite-lived intangible asset at the market level with its carrying amount. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized equal to that excess. After an impairment loss is </font><font style='font-family:Times New Roman;font-size:10pt;' >recognized, the adjusted carrying amount of the indefinite-lived asset is its new accounting basis. The fair value of the indefinite-lived asset is determined using the direct valuation method as prescribed in ASC&#160;805-20-S99. Under the direct valuation m</font><font style='font-family:Times New Roman;font-size:10pt;' >ethod, the fair value of the indefinite-lived assets is calculated at the market level as prescribed by ASC&#160;350-30-35. The Company engaged Corporate Valuation Consulting LLC (formerly a </font><font style='font-family:Times New Roman;font-size:10pt;' >Mesirow</font><font style='font-family:Times New Roman;font-size:10pt;' > Financial Consulting Practice), a third-party valuation firm, </font><font style='font-family:Times New Roman;font-size:10pt;' >to assist it in the development of the assumptions and the Company&#8217;s determination of the fair value of its indefinite-lived intangible assets.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The application of the direct valuation method attempts to isolate the income that is properly attributable to </font><font style='font-family:Times New Roman;font-size:10pt;' >the indefinite-lived intangible asset alone (that is, apart from tangible and identified intangible assets and goodwill). It is based upon modeling a hypothetical &#8220;greenfield&#8221; build-up to a &#8220;normalized&#8221; enterprise that, by design, lacks inherent goodwill </font><font style='font-family:Times New Roman;font-size:10pt;' >and whose only other assets have essentially been paid for (or added) as part of the build-up process. The Company forecasts revenue, expenses, and cash flows over a ten-year period for each of its markets in its application of the direct valuation method</font><font style='font-family:Times New Roman;font-size:10pt;' >. The Company also calculates a &#8220;normalized&#8221; residual year which represents the perpetual cash flows of each market. The residual year cash flow was capitalized to arrive at the terminal value of the licenses or permits </font><font style='font-family:Times New Roman;font-size:10pt;' >in each market.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Under the direct valuation </font><font style='font-family:Times New Roman;font-size:10pt;' >method, it is assumed that rather than acquiring indefinite-lived intangible assets as part of a going concern business, the buyer hypothetically develops indefinite-lived intangible assets and builds a new operation with similar attributes from scratch. </font><font style='font-family:Times New Roman;font-size:10pt;' >Thus, the buyer incurs start-up costs during the build-up phase which are normally associated with going concern value. Initial capital costs are deducted from the discounted cash flow model which results in value that is directly attributable to the inde</font><font style='font-family:Times New Roman;font-size:10pt;' >finite-lived intangible assets.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The key assumptions using the direct valuation method are market revenue growth rates, market share, profit margin, duration and profile of the build-up period, estimated start-up capital costs and losses incurred during th</font><font style='font-family:Times New Roman;font-size:10pt;' >e build-up period, the risk-adjusted discount rate and terminal values. This data is populated using industry normalized information representing an average FCC license or billboard permit within a market.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >During 2015, t</font><font style='font-family:Times New Roman;font-size:10pt;' >he Company recognize</font><font style='font-family:Times New Roman;font-size:10pt;' >d</font><font style='font-family:Times New Roman;font-size:10pt;' > an impairmen</font><font style='font-family:Times New Roman;font-size:10pt;' >t charge </font><font style='font-family:Times New Roman;font-size:10pt;' >of $21.6</font><font style='font-family:Times New Roman;font-size:10pt;' > million related to billboard permits in one market.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Other Intangible Assets</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Other intangible assets include definite-lived intangible assets and permanent easements. The Company&#8217;s definite-lived intangible assets include primarily </font><font style='font-family:Times New Roman;font-size:10pt;' >transit and street furniture contracts, talent and representation contracts, customer and advertiser relationships, and site-leases and other contractual rights</font><font style='font-family:Times New Roman;font-size:10pt;' >, all of which are amortized over the </font><font style='font-family:Times New Roman;font-size:10pt;' >shorter of either the </font><font style='font-family:Times New Roman;font-size:10pt;' >respective lives of the agreements or over the period of time the assets are expected t</font><font style='font-family:Times New Roman;font-size:10pt;' >o contribute directly or indirectly to the Company&#8217;s future cash flows. Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company. The Company periodically reviews the appropriate</font><font style='font-family:Times New Roman;font-size:10pt;' >ness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at cost.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:25.5pt;' ><td colspan='13' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets as of December 31, 2015 and 2014, respectively:</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;border-color:Black;min-width:204pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:15pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2015</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='5' rowspan='1' style='width:156.75pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:156.75pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >December 31, 2014</font></td></tr><tr style='height:26.25pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td><td style='width:7.5pt;text-align:center;border-color:Black;min-width:7.5pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Gross Carrying Amount</font></td><td style='width:3.75pt;border-top-style:solid;border-top-width:1;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Accumulated Amortization</font></td></tr><tr style='height:25.5pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Transit, street furniture and other outdoor</font><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > contractual rights</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 635,772 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (457,060)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 716,723 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (476,523)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Customer / advertiser relationships</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,222,518 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (891,488)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 1,222,518 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (765,596)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Talent contracts</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,384 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (252,526)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 319,384 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (223,936)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Representation contracts</font></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 239,142 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (217,770)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 238,313 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (206,338)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Permanent easements</font></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 156,349 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 171,271 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:219pt;text-align:left;border-color:Black;min-width:219pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 394,983 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (195,644)</font></td><td style='width:7.5pt;text-align:right;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 388,160 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:left;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (177,249)</font></td></tr><tr style='height:12.75pt;' ><td style='width:15pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:204pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:204pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Total</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 2,968,148 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (2,014,488)</font></td><td style='width:7.5pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,056,369 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:center;background-color:#CCEEFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (1,849,642)</font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;color:#000000;' >Total amortization expense related to definite-lived intangible assets for the years ended December 31, 2015, 2014 and 2013 was $237.5 million, $263.4 million, and $289.0 million, respectively.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:27pt;' ><td colspan='5' rowspan='1' style='width:536.25pt;text-align:justify;border-color:Black;min-width:536.25pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >As acquisitions and dispositions occur in the future, amortization expense may vary. The following table presents the Company&#8217;s estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets:</font></td></tr><tr style='height:8.25pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:60pt;text-align:justify;border-color:Black;min-width:60pt;' ></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:left;border-color:Black;min-width:45pt;' ></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:13.5pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:center;border-color:Black;min-width:45pt;' ></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2016</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 220,166 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2017</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 197,444 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2018</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 127,439 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2019</font></td><td style='width:15pt;text-align:right;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 44,030 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:67.5pt;text-align:left;background-color:#CCEEFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >2020</font></td><td style='width:15pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:15pt;' ></td><td style='width:45pt;text-align:right;background-color:#CCEEFF;border-color:Black;min-width:45pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 37,763 </font></td><td style='width:408.75pt;text-align:left;border-color:Black;min-width:408.75pt;' ></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:6pt;line-height:13.8pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;margin-left:0pt;' >Annual Impairment Test to Goodwill</font></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Historically, the Company performed its annual impairment test on goodwill as of October 1 of each year. Beginning in the third quarter of 2015, the Company began performing its annual impairment test</font><font style='font-family:Times New Roman;font-size:10pt;' > on July 1 of each year. </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Each of the Company&#8217;s U.S. radio markets and outdoor advertising markets are components. The U.S. radio markets are aggregated into a single reporting unit and the U.S. outdoor advertising markets are aggregated into a single </font><font style='font-family:Times New Roman;font-size:10pt;' >reporting unit for purposes of the goodwill impairment test using the guidance in ASC&#160;350-20-55. The Company also determined that each country within its Americas outdoor segment and International outdoor segment constitutes a separate reporting unit.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Th</font><font style='font-family:Times New Roman;font-size:10pt;' >e goodwill impairment test is a two-step process. The first step, used to screen for potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If applicable, the second step, used to measure the amoun</font><font style='font-family:Times New Roman;font-size:10pt;' >t of the impairment loss, compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill.</font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Each of the Company&#8217;s reporting units is valued using a discounted cash flow model which requires estimating future cash fl</font><font style='font-family:Times New Roman;font-size:10pt;' >ows expected to be generated from the reporting unit and discounting such cash flows to their present value using a risk-adjusted discount rate. Terminal values were also estimated and discounted to their present value. Assessing the recoverability of go</font><font style='font-family:Times New Roman;font-size:10pt;' >odwill requires the Company to make estimates and assumptions about sales, operating margins, growth rates and discount rates based on its budgets, business plans, economic projections, anticipated future cash flows and marketplace data. There are inheren</font><font style='font-family:Times New Roman;font-size:10pt;' >t uncertainties related to these factors and management&#8217;s judgment in applying these factors. </font></p><p style='text-align:justify;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company concluded no goodwill impairment charge was required for 2015 or 2014. In 2013, the Company concluded no goodwill impairment was required for iHM and Americas outdoor. Based on declining future cash flows expected in one country in the Interna</font><font style='font-family:Times New Roman;font-size:10pt;' >tional outdoor segment, the Company recognized a non-cash impairment charge to goodwill of $10.7 million</font><font style='font-family:Times New Roman;font-size:10pt;' >.</font></p></div><p style='line-height:20pt;' /><div><table style='border-collapse:collapse;' ><tr style='height:12.75pt;' ><td colspan='16' rowspan='1' style='width:540pt;text-align:justify;border-color:Black;min-width:540pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >The following table presents the changes in the carrying amount of goodwill in each of the Company&#8217;s reportable segments:</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td><td style='width:3.75pt;text-align:left;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:left;border-color:Black;min-width:67.5pt;' ></td></tr><tr style='height:39.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-style:italic;color:#000000;' >(In thousands)</font></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >iHM</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Americas Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >International Outdoor Advertising</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:3.75pt;text-align:center;border-color:Black;min-width:3.75pt;' ></td><td colspan='2' rowspan='1' style='width:76.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:center;border-color:Black;min-width:76.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Consolidated</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2013</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,270,521 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 585,227 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 264,907 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,532 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,202,187 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 17,900 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 299 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 18,199 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (653)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (32,369)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (33,022)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Other</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 60 </font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2014</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,288,481 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 584,574 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 232,538 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,831 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,187,424 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Acquisitions</font></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,998 </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 10,998 </font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Foreign currency</font></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (709)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (19,644)</font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (20,353)</font></td></tr><tr style='height:12.75pt;' ><td style='width:7.5pt;text-align:left;border-color:Black;min-width:7.5pt;' ></td><td style='width:135pt;text-align:left;border-color:Black;min-width:135pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Assets held for sale</font></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (49,182)</font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > - </font></td><td style='width:3.75pt;text-align:right;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:9pt;' ></td><td style='width:67.5pt;border-bottom-style:solid;border-bottom-width:1;text-align:right;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > (49,182)</font></td></tr><tr style='height:12.75pt;' ><td colspan='2' rowspan='1' style='width:142.5pt;text-align:left;background-color:#CCECFF;border-color:Black;min-width:142.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >Balance as of December 31, 2015</font></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 3,288,481 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 534,683 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 223,892 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 81,831 </font></td><td style='width:3.75pt;text-align:right;background-color:#CCECFF;border-color:Black;min-width:3.75pt;' ></td><td style='width:9pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:9pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' >$</font></td><td style='width:67.5pt;border-top-style:solid;border-top-width:1;border-bottom-style:double;border-bottom-width:3;text-align:right;background-color:#CCECFF;border-color:Black;min-width:67.5pt;' ><font style='font-family:Times New Roman;font-size:10pt;color:#000000;' > 4,128,887 </font></td></tr></table></div><p style='line-height:20pt;' /><div><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The balance at December</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >31, </font><font style='font-family:Times New Roman;font-size:10pt;' >2013</font><font style='font-family:Times New Roman;font-size:10pt;' > is net of cumulative impairments of </font><font style='font-family:Times New Roman;font-size:10pt;' >$</font><font style='font-family:Times New Roman;font-size:10pt;' >3.5&#160;billion, $2.6&#160;billion, $</font><font style='font-family:Times New Roman;font-size:10pt;' >326.6</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;million and $212.0</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >million in the Company&#8217;s </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >, Americas outdoor, International outdoor an</font><font style='font-family:Times New Roman;font-size:10pt;' >d Other segments, respectively.</font></p></div> 347770000 500000000 0 500000 500000 0.001 0.001 500000000 500000000 500000000 500000000 <div><p style='text-align:justify;margin-top:0pt;margin-bottom:6pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0pt;' >Nature of Business</font></p><p style='text-align:left;margin-top:4.5pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. is a Texas corporation (the </font><font style='font-family:Times New Roman;font-size:10pt;' >&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >Company</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;)</font><font style='font-family:Times New Roman;font-size:10pt;' > with all of its </font><font style='font-family:Times New Roman;font-size:10pt;' >shares of common stock</font><font style='font-family:Times New Roman;font-size:10pt;' > held by </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > Capital</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >I, LLC, a</font><font style='font-family:Times New Roman;font-size:10pt;' >n</font><font style='font-family:Times New Roman;font-size:10pt;' > </font><font style='font-family:Times New Roman;font-size:10pt;' >in</font><font style='font-family:Times New Roman;font-size:10pt;' >direct, wholly owned subsidiary of </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. (&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;). </font><font style='font-family:Times New Roman;font-size:10pt;' >Parent</font><font style='font-family:Times New Roman;font-size:10pt;' > was formed in May</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >2007 by private equity funds sponsored by Bain Capital Partners, LLC and Thomas</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >H. Lee Partners, L.P. (together, the &#8220;Sponsors&#8221;) for the purpose of acquiring the business of </font><font style='font-family:Times New Roman;font-size:10pt;' >the Company</font><font style='font-family:Times New Roman;font-size:10pt;' >. The acquisition was completed on July</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >30, 2008 pursuant to the Agreem</font><font style='font-family:Times New Roman;font-size:10pt;' >ent and Plan of Merger, dated November</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >16, 2006, as amended on April</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >18, 2007, May</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >17, 2007 and May</font><font style='font-family:Times New Roman;font-size:10pt;' >&#160;</font><font style='font-family:Times New Roman;font-size:10pt;' >13,</font><font style='font-family:Times New Roman;font-size:10pt;' > 2008 (the &#8220;Merger Agreement&#8221;).</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Upon the consummation of the merger, </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. became a public company and the Company was no longer a public co</font><font style='font-family:Times New Roman;font-size:10pt;' >mpany.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >All references in this Annual Report on Form 10-K to the &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refer to </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. and its consolidated subsidiaries. </font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >The Company&#8217;s reportable operating segments are </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > (&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;), Americas outdoor</font><font style='font-family:Times New Roman;font-size:10pt;' > advertising (&#8220;Americas outdoor&#8221;), and International outdoor advertising (&#8220;International outdoor&#8221;). The </font><font style='font-family:Times New Roman;font-size:10pt;' >iHM</font><font style='font-family:Times New Roman;font-size:10pt;' > segment provides media and entertainment services via broadcast and digital delivery. The Americas outdoor and International outdoor segments prov</font><font style='font-family:Times New Roman;font-size:10pt;' >ide outdoor advertising services in their respective geographic regions using various digital and traditional display types. Included in the &#8220;Other&#8221; category are the Company&#8217;s media representation business, Katz Media Group, as well as other general suppor</font><font style='font-family:Times New Roman;font-size:10pt;' >t services and initiatives, which are ancillary to its other businesses.</font></p><p style='text-align:left;line-height:12pt;' ></p><p style='text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >We are a holding company and have no significant assets other than the ownership interests in our subsidiaries. All of our ope</font><font style='font-family:Times New Roman;font-size:10pt;' >rations and all of our operating assets are held by our subsidiaries. Certain of our outstanding indebtedness is fully and unconditionally guaranteed on a joint and several basis by our parent, </font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' > Capital I, LLC (&#8220;Capital I&#8221;), and certain of our </font><font style='font-family:Times New Roman;font-size:10pt;' >direct and indirect wholly-owned domestic subsidiaries. Not all of our subsidiaries guarantee our obligations under such outstanding indebtedness. For a presentation of the allocation of assets, liabilities, equity, revenues and expenses attributable to </font><font style='font-family:Times New Roman;font-size:10pt;' >the guarantors of our indebtedness in conformity with the SEC&#8217;s Regulation S-X Rule 3-10(d), please refer to </font><font style='font-family:Times New Roman;font-size:10pt;' >Note 14</font><font style='font-family:Times New Roman;font-size:10pt;' > to the consolidated financial statements of Capital I as of and for the year ending December 31, 2015.</font></p></div> 2066622000 2101132000 500000 500000 500000 500000 295075000 0 20631000 -15216000 15081000 59608000 88560000 16014000 29006000 8520000 38000 772678000