Equity And Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2012

Equity And Comprehensive Income (Loss) [Abstract]

NOTE 8 – EQUITY AND COMPREHENSIVE INCOME (LOSS)

The Company reports its noncontrolling interests in consolidated subsidiaries as a component of equity separate from the Company's equity. The following table shows the changes in equity attributable to the Company and the noncontrolling interests of subsidiaries in which the Company has a majority, but not total ownership interest:

(In thousands)			The Company		Noncontrolling Interests		Consolidated
Balances at January 1, 2012		$	(7,993,735)	$	521,794	$	(7,471,941)
	Net income (loss)		(233,215)		18,807		(214,408)
	Dividend		-		(244,734)		(244,734)
	Foreign currency translation adjustments		16,867		1,061		17,928
	Unrealized holding gain (loss) on marketable securities		17,522		(123)		17,399
	Unrealized holding gain on cash flow derivatives		36,322		-		36,322
	Reclassification adjustment		(473)		(61)		(534)
	Other - net		2,204		10,427		12,631
Balances at September 30, 2012		$	(8,154,508)	$	307,171	$	(7,847,337)

Balances at January 1, 2011		$	(7,695,606)	$	490,920	$	(7,204,686)
	Net income (loss)		(259,067)		22,438		(236,629)
	Foreign currency translation adjustments		(27,810)		1,731		(26,079)
	Unrealized holding loss on marketable securities		(6,776)		(513)		(7,289)
	Unrealized holding gain on cash flow derivatives		22,791		-		22,791
	Reclassification adjustment		18		216		234
	Other - net		(940)		(3,429)		(4,369)
Balances at September 30, 2011		$	(7,967,390)	$	511,363	$	(7,456,027)

The Company completed a voluntary stock option exchange program on March 21, 2011 and exchanged 2.5 million stock options granted under the Clear Channel 2008 Executive Incentive Plan for 1.3 million replacement stock options with a lower exercise price and different service and performance vesting conditions. The Company accounted for the exchange program as a modification of the existing awards under ASC 718 and will recognize incremental compensation expense of approximately $1.0 million over the service period of the new awards.