Company: IHETW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001400891-25-000035
Chunk: 14

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 14
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2025 and 2024, respectively.

9

IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL

Property, Plant and EquipmentThe Company’s property, plant and equipment consisted of the following classes of assets:(In thousands)March 31,2025December 31,2024Land, buildings and improvements$330,339 $335,502 Towers, transmitters and studio equipment208,588 207,349 Computer equipment and software750,168 741,259 Furniture and other equipment54,029 54,108 Construction in progress11,198 12,186 1,354,322 1,350,404 Less: accumulated depreciation889,480 860,561 Property, plant and equipment, net$464,842 $489,843 Indefinite-lived Intangible AssetsThe Company’s indefinite-lived intangible assets consist of FCC broadcast licenses in its Multiplatform Group segment. Other Intangible AssetsOther intangible assets consists of definite-lived intangible assets, which primarily include customer and advertiser relationships, talent and representation contracts, trademarks and tradenames and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time that the assets are expected to contribute directly or indirectly to the Company’s future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at amortized cost. The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets.(In thousands)March 31, 2025December 31, 2024Gross Carrying AmountAccumulated AmortizationGross Carrying AmountAccumulated AmortizationCustomer / advertiser relationships$1,652,623 $(1,001,545)$1,652,623 $(967,377)Talent and other contracts338,900 (256,409)338,900 (245,909)Trademarks and tradenames335,912 (198,947)335,912 (190,450)Other18,003 (14,674)18,003 (14,120)Total$2,345,438 $(1,