Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 171

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 171
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 102,670 

95

IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Segments(In thousands)Multiplatform GroupDigital Audio GroupAudio & Media Services GroupCorporate and other reconciling itemsEliminationsConsolidatedYear Ended December 31, 2022Revenue$2,597,190 $1,021,824 $304,302 $— $(11,033)$3,912,283 Direct operating expenses(1)907,274 533,810 33,033 — (3,853)1,470,264 Selling, general and administrative expenses(2)924,217 178,976 158,374 237,343 (7,180)1,491,730 Segment Adjusted EBITDA(3)$765,699 $309,038 $112,895 $(237,343)$— $950,289 Depreciation and amortization(445,664)Impairment charges(311,489)Other operating expense, net(24,998)Restructuring expenses(75,821)Share-based compensation expense(35,457)Operating income$56,860 Segment assets$6,319,790 $1,056,985 $350,388 $612,113 $(3,389)$8,335,887 Intersegment revenues447 5,239 5,347 — — 11,033 Capital expenditures119,624 21,261 8,172 11,912 — 160,969 (1)Includes content, programming, and production costs as well as employee compensation, talent fees, event costs, music license fees, and other expenses.(2)Includes administrative employee compensation, sales commissions, ratings fees, trade and barter expense, and other expenses. 

(3)For a definition of Adjusted EBITDA for the consolidated company and a reconciliation to Operating loss, the most closely comparable GAAP measure, and to Net loss, please see "Reconciliation of Operating Loss to Adjusted EBITDA" and "Reconciliation of Net Loss to EBITDA and Adjusted EBITDA" in Item 7 of this Annual Report on Form 10-K.  Beginning on January 1, 2021, Segment Adjusted EBITDA became the segment profitability metric reported to the Company's Chief Operating Decision Maker for