Company: IHETW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001400891-25-000035
Chunk: 66

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 66
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8,480 Adjusted EBITDA(1)$104,588 $104,617 

23

Reconciliation of Net loss to EBITDA and Adjusted EBITDA

(In thousands)Three Months EndedMarch 31,20252024Net loss$(280,883)$(18,108)Income tax (benefit) expense135,359 (20,662)Interest expense, net100,386 95,515 Depreciation and amortization91,901 105,162 EBITDA $46,763 $161,907 (Gain) loss on investments, net18,594 (91,994)Loss on extinguishment of debt1,197 — Other (income) expense, net(37)496 Equity in (earnings) loss of nonconsolidated affiliates(50)45 Impairment charges2,855 1,508 Other operating expense659 572 Restructuring expenses25,578 23,603 Share-based compensation expense9,029 8,480 Adjusted EBITDA(1)$104,588 $104,617 

(1)We define Adjusted EBITDA as consolidated Operating loss adjusted to exclude restructuring expenses included within Direct operating expenses and SG&A expenses, and share-based compensation expenses included within SG&A expenses, as well as the following line items presented in our Statements of Operations: Depreciation and amortization, Impairment charges and Other operating expense. Alternatively, Adjusted EBITDA is calculated as Net loss, adjusted to exclude Income tax (benefit) expense,  Interest expense, net, Depreciation and amortization, (Gain) loss on investments, net, Loss on extinguishment of debt, Other (income) expense, net, Equity in (earnings) loss of nonconsolidated affiliates, Impairment charges, Other operating expense, Share-based compensation expense, and restructuring expenses. Restructuring expenses primarily include expenses incurred in connection with cost-saving initiatives, as well as certain expenses, which, in the view of management, are outside the ordinary course of business or otherwise not representative of the Company's operations during a normal business cycle. We use Adjusted EBITDA, among other measures, to evaluate the Company’s operating performance. This measure is among the primary measures used by management for the planning and forecasting of future periods, as well as for measuring performance for compensation of executives and other members of management. We believe this measure