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Segment Data | 9 Months Ended
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Sep. 30, 2014
Segment Data [Abstract] |
Segment Data | NOTE 9 – SEGMENT DATA The Company’s reportable segments, which it believes best reflect how the Company is currently managed, are iHM (formerly CCME), Americas outdoor advertising and International outdoor advertising. Revenue and expenses earned and charged between segments are recorded at estimated fair value and eliminated in consolidation. The iHeartMedia (“iHM”) segment provides media and entertainment services via broad cast and digital delivery and also includes the Company’s national syndication business. The Americas outdoor advertising segment consists of operations primarily in the United States and Canada. The International outdoor advertising segment primarily in cl udes operations in Europe, Asia, Australia and Latin America. The Americas outdoor and International outdoor display inventory consists primarily of billboards, street furniture displays and transit displays. The Other category includes the Com pany’s m edia representation business as well as other general support services and initiatives which are ancillary to the Company’s other businesses. Corporate includes infrastructure and support, including information technology, human resources, legal, finance and administrative functions of each of the Company’s reportable segments, as well as overall executive, administrative and support functions. Share-based payments are recorded in corporate expenses. The following table presents the Company’s reportable segment results for the three and nine months ended September 30, 2014 and 2013.
(In thousands) | iHM |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Three Months Ended September 30, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue | $ | 830,509 |  | $ | 329,500 |  | $ | 413,294 |  | $ | 73,712 |  | $ | - |  | $ | (16,981) |  | $ | 1,630,034
Direct operating expenses |  | 242,517 |  |  | 140,739 |  |  | 260,095 |  |  | 5,103 |  |  | - |  |  | (2,473) |  |  | 645,981
Selling, general and administrative expenses |  | 269,009 |  |  | 55,257 |  |  | 84,356 |  |  | 35,563 |  |  | - |  |  | (14,498) |  |  | 429,687
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 78,212 |  |  | (10) |  |  | 78,202
Depreciation and amortization |  | 61,606 |  |  | 48,973 |  |  | 50,105 |  |  | 8,389 |  |  | 6,792 |  |  | - |  |  | 175,865
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 35 |  |  | - |  |  | 35
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 47,172 |  |  | - |  |  | 47,172
Operating income (loss) | $ | 257,377 |  | $ | 84,531 |  | $ | 18,738 |  | $ | 24,657 |  | $ | (37,867) |  | $ | - |  | $ | 347,436
Intersegment revenues | $ | 10 |  | $ | 721 |  | $ | - |  | $ | 16,250 |  | $ | - |  | $ | - |  | $ | 16,981
Capital expenditures | $ | 9,336 |  | $ | 18,980 |  | $ | 22,860 |  | $ | 1,235 |  | $ | 1,176 |  | $ | - |  | $ | 53,587
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,246 |  | $ | - |  | $ | 2,246
Three Months Ended September 30, 2013
Revenue | $ | 823,863 |  | $ | 331,346 |  | $ | 391,667 |  | $ | 57,460 |  | $ | - |  | $ | (16,814) |  | $ | 1,587,522
Direct operating expenses |  | 249,084 |  |  | 140,972 |  |  | 255,122 |  |  | 5,718 |  |  | - |  |  | (2,153) |  |  | 648,743
Selling, general and administrative expenses |  | 260,264 |  |  | 55,739 |  |  | 75,698 |  |  | 34,314 |  |  | - |  |  | (14,661) |  |  | 411,354
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 89,574 |  |  | - |  |  | 89,574
Depreciation and amortization |  | 64,745 |  |  | 48,530 |  |  | 49,090 |  |  | 9,925 |  |  | 5,040 |  |  | - |  |  | 177,330
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 6,186 |  |  | - |  |  | 6,186
Operating income (loss) | $ | 249,770 |  | $ | 86,105 |  | $ | 11,757 |  | $ | 7,503 |  | $ | (88,428) |  | $ | - |  | $ | 266,707
Intersegment revenues | $ | - |  | $ | 1,110 |  | $ | - |  | $ | 15,704 |  | $ | - |  | $ | - |  | $ | 16,814
Capital expenditures | $ | 22,171 |  | $ | 13,838 |  | $ | 19,983 |  | $ | 2,070 |  | $ | 6,518 |  | $ | - |  | $ | 64,580
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 2,754 |  | $ | - |  | $ | 2,754
(In thousands) | iHM |  | Americas Outdoor Advertising |  | International Outdoor Advertising |  | Other |  | Corporate and other reconciling items |  | Eliminations |  | Consolidated
Nine Months Ended September 30, 2014
Revenue | $ | 2,307,193 |  | $ | 917,404 |  | $ | 1,241,846 |  | $ | 184,236 |  | $ | - |  | $ | (47,943) |  | $ | 4,602,736
Direct operating expenses |  | 678,681 |  |  | 413,761 |  |  | 781,730 |  |  | 17,839 |  |  | - |  |  | (6,313) |  |  | 1,885,698
Selling, general and administrative expenses |  | 787,357 |  |  | 158,789 |  |  | 254,045 |  |  | 107,521 |  |  | - |  |  | (41,620) |  |  | 1,266,092
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 233,114 |  |  | (10) |  |  | 233,104
Depreciation and amortization |  | 185,656 |  |  | 144,094 |  |  | 150,763 |  |  | 25,763 |  |  | 18,522 |  |  | - |  |  | 524,798
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | 4,937 |  |  | - |  |  | 4,937
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 45,709 |  |  | - |  |  | 45,709
Operating income (loss) | $ | 655,499 |  | $ | 200,760 |  | $ | 55,308 |  | $ | 33,113 |  | $ | (210,864) |  | $ | - |  | $ | 733,816
Intersegment revenues | $ | 10 |  | $ | 2,791 |  | $ | - |  | $ | 45,142 |  | $ | - |  | $ | - |  | $ | 47,943
Capital expenditures | $ | 30,020 |  | $ | 48,390 |  | $ | 84,215 |  | $ | 4,121 |  | $ | 28,262 |  | $ | - |  | $ | 195,008
Share-based compensation expense | $ | - |  |  | - |  |  | - |  |  | - |  |  | 8,064 |  |  | - |  |  | 8,064
Nine Months Ended September 30, 2013
Revenue | $ | 2,286,040 |  | $ | 952,832 |  | $ | 1,187,262 |  | $ | 167,778 |  | $ | - |  | $ | (45,235) |  | $ | 4,548,677
Direct operating expenses |  | 685,099 |  |  | 419,676 |  |  | 762,167 |  |  | 18,535 |  |  | - |  |  | (6,368) |  |  | 1,879,109
Selling, general and administrative expenses |  | 755,351 |  |  | 165,232 |  |  | 238,786 |  |  | 105,556 |  |  | - |  |  | (38,867) |  |  | 1,226,058
Corporate expenses |  | - |  |  | - |  |  | - |  |  | - |  |  | 245,702 |  |  | - |  |  | 245,702
Depreciation and amortization |  | 200,615 |  |  | 144,256 |  |  | 150,013 |  |  | 29,797 |  |  | 14,565 |  |  | - |  |  | 539,246
Impairment charges |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Other operating income, net |  | - |  |  | - |  |  | - |  |  | - |  |  | 9,694 |  |  | - |  |  | 9,694
Operating income (loss) | $ | 644,975 |  | $ | 223,668 |  | $ | 36,296 |  | $ | 13,890 |  | $ | (250,573) |  | $ | - |  | $ | 668,256
Intersegment revenues | $ | - |  | $ | 1,253 |  | $ | - |  | $ | 43,982 |  | $ | - |  | $ | - |  | $ | 45,235
Capital expenditures | $ | 58,335 |  | $ | 43,489 |  | $ | 68,683 |  | $ | 6,765 |  | $ | 19,988 |  | $ | - |  | $ | 197,260
Share-based compensation expense | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 14,093 |  | $ | - |  | $ | 14,093

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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