2014 Q4 Form 10-K Financial Statement

#000140089116000051 Filed on February 25, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $1.716B $1.630B $1.630B
YoY Change 1.26% 2.68% 0.75%
Cost Of Revenue $648.7M $646.0M $644.9M
YoY Change -9.15% 3.54% 3.47%
Gross Profit $1.067B $984.1M $985.3M
YoY Change 8.84% 2.12% -0.95%
Gross Profit Margin 62.19% 60.37% 60.44%
Selling, General & Admin $418.2M $426.9M $417.9M
YoY Change -0.43% 4.46% 2.32%
% of Gross Profit 39.19% 43.38% 42.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $186.1M $175.9M $174.1M
YoY Change -2.86% -0.83% -3.16%
% of Gross Profit 17.44% 17.87% 17.67%
Operating Expenses $418.2M $426.9M $417.9M
YoY Change -0.43% 4.46% 2.32%
Operating Profit $347.8M $347.4M $303.6M
YoY Change 4.58% 30.27% -5.2%
Interest Expense $437.3M $432.6M $440.6M
YoY Change 4.6% -1.32% 8.12%
% of Operating Profit 125.73% 124.52% 145.14%
Other Income/Expense, Net -$7.211M $2.617M $12.16M
YoY Change 57.07% 53.13% -167.17%
Pretax Income -$83.82M -$83.45M -$172.4M
YoY Change -68.42% -49.72% -647.58%
Income Tax -$33.65M $24.38M -$621.0K
% Of Pretax Income
Net Earnings -$68.09M -$114.9M -$186.6M
YoY Change -77.98% 12.76% -2691.38%
Net Earnings / Revenue -3.97% -7.05% -11.45%
Basic Earnings Per Share -$0.81 -$1.37 -$2.22
Diluted Earnings Per Share -$0.81 -$1.37 -$2.22
COMMON SHARES
Basic Shares Outstanding 83.99M shares 83.92K shares
Diluted Shares Outstanding 83.99M shares 83.92K shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $457.0M $522.0M $798.0M
YoY Change -35.45% -26.58% 13.35%
Cash & Equivalents $457.0M $522.4M $798.4M
Short-Term Investments
Other Short-Term Assets $98.51M $169.8M $389.0M
YoY Change -38.88% 7.04% 115.28%
Inventory $23.78M
Prepaid Expenses $191.6M $205.9M $216.3M
Receivables $1.395B $1.401B $1.424B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.142B $2.300B $2.612B
YoY Change -14.76% -7.27% 6.1%
LONG-TERM ASSETS
Property, Plant & Equipment $2.699B $2.729B $2.814B
YoY Change -6.85% -5.28% -3.09%
Goodwill $4.187B $4.213B $4.203B
YoY Change -0.35% 0.01% 0.01%
Intangibles
YoY Change
Long-Term Investments $27.74M
YoY Change -88.84%
Other Assets $289.1M $305.0M $301.9M
YoY Change -45.81% -52.04% -52.83%
Total Long-Term Assets $289.1M $12.01B $12.14B
YoY Change -45.81% -5.84% -5.41%
TOTAL ASSETS
Total Short-Term Assets $2.142B $2.300B $2.612B
Total Long-Term Assets $289.1M $12.01B $12.14B
Total Assets $13.84B $14.31B $14.75B
YoY Change -8.01% -6.07% -3.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $132.3M $130.3M $114.0M
YoY Change 0.68% 7.45% 9.94%
Accrued Expenses $799.5M $795.1M $792.6M
YoY Change -0.96% 3.63% 11.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.604M $3.232M $22.00M
YoY Change -99.21% -99.25% -38.58%
Total Short-Term Liabilities $1.364B $1.296B $1.386B
YoY Change -22.64% -23.42% 15.28%
LONG-TERM LIABILITIES
Long-Term Debt $20.32B $20.48B $20.65B
YoY Change 1.46% 2.52% 1.34%
Other Long-Term Liabilities $454.9M $452.2M $453.0M
YoY Change -1.55% -1.15% -4.51%
Total Long-Term Liabilities $20.78B $20.93B $20.65B
YoY Change 1.39% 4475.82% -0.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.364B $1.296B $1.386B
Total Long-Term Liabilities $20.78B $20.93B $20.65B
Total Liabilities $22.14B $22.23B $24.31B
YoY Change -0.51% 933.82% 10.23%
SHAREHOLDERS EQUITY
Retained Earnings -$11.68B -$11.50B
YoY Change 7.29% 9.75%
Common Stock $89.00K $89.00K $89.00K
YoY Change 0.0% 0.0% 1.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.246M $1.117M $6.719M
YoY Change -78.72% -80.52% 8.97%
Treasury Stock Shares 210.9K shares -1.412M shares
Shareholders Equity -$9.665B -$9.506B -$9.315B
YoY Change
Total Liabilities & Shareholders Equity $14.00B $14.31B $14.75B
YoY Change -7.25% -6.07% -3.56%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$68.09M -$114.9M -$186.6M
YoY Change -77.98% 12.76% -2691.38%
Depreciation, Depletion And Amortization $186.1M $175.9M $174.1M
YoY Change -2.86% -0.83% -3.16%
Cash From Operating Activities $273.6M $17.70M $45.40M
YoY Change 27.79% -80.68% -832.26%
INVESTING ACTIVITIES
Capital Expenditures -$123.2M $53.59M $74.01M
YoY Change -3.14% -17.02% 4.16%
Acquisitions
YoY Change
Other Investing Activities -$2.100M $8.600M $2.900M
YoY Change -109.59% -20.37% -98.12%
Cash From Investing Activities -$125.3M -$45.00M -$71.10M
YoY Change 18.88% -16.51% -185.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -208.6M -244.9M 161.5M
YoY Change 84.93% 628.87% -269.64%
NET CHANGE
Cash From Operating Activities 273.6M 17.70M 45.40M
Cash From Investing Activities -125.3M -45.00M -71.10M
Cash From Financing Activities -208.6M -244.9M 161.5M
Net Change In Cash -60.30M -272.2M 135.8M
YoY Change 1370.73% -6739.02% -842.08%
FREE CASH FLOW
Cash From Operating Activities $273.6M $17.70M $45.40M
Capital Expenditures -$123.2M $53.59M $74.01M
Free Cash Flow $396.8M -$35.89M -$28.61M
YoY Change 16.26% -232.82% -62.97%

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CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
143500000 USD
CY2013 us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
135571000 USD
CY2015 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
0 USD
CY2015Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
168824000 USD
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
197332000 USD
CY2014Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
418194000 USD
CY2014 us-gaap Other Comprehensive Income Foreign Currency Translation Adjustment Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTranslationAdjustmentTaxPortionAttributableToParent
2559000 USD
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.47 pure
CY2014 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
15554000 USD
CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5434000 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
50934000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
135161000 USD
CY2014Q4 us-gaap Profit Loss
ProfitLoss
-50165000 USD
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
655658000 USD
CY2014Q4 us-gaap Deferred Revenue
DeferredRevenue
23734000 USD
CY2015Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-4693000 USD
CY2015Q4 cik0001400891 Deferred Tax Assets Operating Loss Carryforwards Tax Effected
DeferredTaxAssetsOperatingLossCarryforwardsTaxEffected
1400000000 USD
CY2014Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
4466000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
914244000 USD
CY2015 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-20353000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
8997455000 USD
CY2013 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-4853000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
9764000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4816477000 USD
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
944576000 USD
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-25237000 USD
CY2014Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
4902000 USD
CY2014Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
11600000 USD
CY2015Q4 us-gaap Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
0 USD
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.04 pure
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
32100000 USD
CY2014 cik0001400891 Increase Decrease In Equity Method Investment Due To Currency Translation
IncreaseDecreaseInEquityMethodInvestmentDueToCurrencyTranslation
1215000 USD
CY2015Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-414407000 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
114079000 USD
CY2015Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-690000 USD
CY2013 us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNetAvailableforsaleSecurities
0 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2699064000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
68800000 USD
CY2014Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7211000 USD
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
237500000 USD
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
8300278000 USD
CY2014 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
0 USD
CY2014 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.01 pure
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1160000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2968148000 USD
CY2015 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
-553000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-17795000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
16211000 USD
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<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>
CY2015Q4 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
83142000 USD
CY2014 us-gaap Advertising Expense
AdvertisingExpense
103000000 USD
CY2014Q4 us-gaap Deferred Finance Costs Noncurrent Net
DeferredFinanceCostsNoncurrentNet
130267000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-246284000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment Not Credit Loss Net Of Tax Debt Securities
AccumulatedOtherComprehensiveIncomeLossOtherThanTemporaryImpairmentNotCreditLossNetOfTaxDebtSecurities
18467000 USD
CY2014Q4 cik0001400891 Noncurrent Portion Of Unrecognized Tax Benefits
NoncurrentPortionOfUnrecognizedTaxBenefits
110410000 USD
CY2015 dei Trading Symbol
TradingSymbol
0001400891
CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-126905000 USD
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
12890000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
11540000 USD
CY2015Q4 cik0001400891 Other Long Term Liabilities Other
OtherLongTermLiabilitiesOther
27705000 USD
CY2015Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
80592000 USD
CY2015Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22077000 USD
CY2014Q2 us-gaap Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
0 USD
CY2015Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.085 pure
CY2015 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<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>
CY2014 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
48750000 USD
CY2014Q4 us-gaap Deferred Tax Assets Equity Method Investments
DeferredTaxAssetsEquityMethodInvestments
0 USD
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
29284000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Investment In Noncontrolled Affiliates
DeferredTaxLiabilitiesInvestmentInNoncontrolledAffiliates
6696000 USD
CY2014Q4 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-5678000 USD
CY2015Q4 us-gaap Interest Expense
InterestExpense
456847000 USD
CY2013 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
31800000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
13848000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Cumulative Changes In Net Gain Loss From Cash Flow Hedges Effect Net Of Tax
AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax
0 USD
CY2014Q4 us-gaap Interest Expense
InterestExpense
437261000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
37763000000 USD
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
26500000 USD
CY2014 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-33022000 USD
CY2013 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.03 pure
CY2014Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
39963000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
20868594000 USD
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2398000 USD
CY2015Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2173491000 USD
CY2015Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
47491000 USD
CY2015Q2 us-gaap Profit Loss
ProfitLoss
-47314000 USD
CY2015Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2014Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
14852000 USD
CY2014Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
27822000 USD
CY2015Q4 us-gaap Deferred Compensation Liability Classified Noncurrent
DeferredCompensationLiabilityClassifiedNoncurrent
10400000 USD
CY2014 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
24367000 USD
CY2014Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
18247000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-32768000 USD
CY2015 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
42797000 USD
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.08 pure
CY2015Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
238394000 USD
CY2014Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
347770000 USD
CY2013 us-gaap Proceeds From Repayments Of Other Long Term Debt
ProceedsFromRepaymentsOfOtherLongTermDebt
0 USD
CY2014 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-11074000 USD
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
59109000 USD
CY2015Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
9256000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
302935000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
51252000 USD
CY2015Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
61128000 USD
CY2015Q4 us-gaap Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
526571000 USD
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-172400000 USD
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-621000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8534000 USD
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
339800000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
44030000000 USD
CY2015 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<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>
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-26518000 USD
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2014Q4 us-gaap Realized Gain Loss On Marketable Securities Cost Method Investments And Other Investments
RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments
0 USD
CY2015 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
52384000 USD
CY2015Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0 pure
CY2015Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
330302000 USD
CY2015Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
412199000 USD
CY2015 us-gaap Interest Paid Net
InterestPaidNet
1686988000 USD
CY2014 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
8520000 USD
CY2014 us-gaap Sponsor Fees
SponsorFees
15200000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
5533000 USD
CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-22333000 USD
CY2013 us-gaap Advertising Expense
AdvertisingExpense
133700000 USD
CY2014Q4 us-gaap Equity Method Investments
EquityMethodInvestments
27740000 USD
CY2014Q4 us-gaap Liabilities Other Than Longterm Debt Noncurrent
LiabilitiesOtherThanLongtermDebtNoncurrent
454863000 USD
CY2013 us-gaap Advertising Barter Transactions Advertising Barter Costs
AdvertisingBarterTransactionsAdvertisingBarterCosts
65500000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
432237000 USD
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 us-gaap Sponsor Fees
SponsorFees
15800000 USD
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
30719000 USD
CY2015Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
39539000 USD
CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3199000 USD
CY2015Q4 cik0001400891 Noncurrent Portion Of Unrecognized Tax Benefits Netted Against Deferred Tax Assets
NoncurrentPortionOfUnrecognizedTaxBenefitsNettedAgainstDeferredTaxAssets
34600000 USD
CY2015 us-gaap Asset Retirement Obligations Description
AssetRetirementObligationsDescription
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.
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
37661000 USD
CY2014Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
19239000 USD
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EarningsPerShareBasic
-1.11
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.11
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
772678000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
457024000 USD
CY2015 us-gaap Nature Of Operations
NatureOfOperations
<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:0pt;margin-bottom:0pt;line-height:12pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >iHeartMedia</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc. (the &#8220;Company&#8221;) was formed in May 2007 by private equity funds sponsored by Bain Capital Partners, LLC and Thomas 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;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >, Inc., a Texas company (&#8220;</font><font style='font-family:Times New Roman;font-size:10pt;' >iHeartCommunications</font><font style='font-family:Times New Roman;font-size:10pt;' >&#8221;). The acquisition was completed on July 30, 2008 pursuant to the Agreement and Plan of Merger, dated November 16, 2006, as amended on April 18, 2007, May 17, 2007 and May 13, 2008 (the &#8220;Me</font><font style='font-family:Times New Roman;font-size:10pt;' >rger 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;' >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 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 se</font><font style='font-family:Times New Roman;font-size:10pt;' >rvices via broadcast and digital delivery. The Americas outdoor and International outdoor segments provide outdoor advertising services in their respective geographic regions using various digital and traditional display types. Included in the &#8220;Other&#8221; cat</font><font style='font-family:Times New Roman;font-size:10pt;' >egory are the Company&#8217;s media representation business, Katz Media Group, as well as other general support services and initiatives, which are ancillary to its other businesses.</font></p></div>
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
20631000 USD
CY2014 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-15216000 USD
CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
15081000 USD
CY2015 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
59608000 USD
CY2014 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
88560000 USD
CY2013 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
16014000 USD
CY2015 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
29006000 USD
CY2014 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
8520000 USD
CY2013 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
38000 USD
CY2015Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
295075000 USD
CY2014Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
0 USD

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