Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 91

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 91
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, net2,767 4,361 Share-based compensation expense32,311 35,625 Restructuring expenses101,384 60,353 Adjusted EBITDA(1)$705,617 $696,598 

Reconciliations of Net loss to EBITDA and Adjusted EBITDA

(In thousands)Year Ended December 31,20242023Net loss$(1,009,494)$(1,100,339)Income tax benefit(158,402)(62,338)Interest expense, net379,434 389,775 Depreciation and amortization409,582 428,483 EBITDA$(378,880)$(344,419)(Gain) loss on investments, net(75,523)28,130 (Gain) loss on extinguishment of debt and exchange costs97,305 (56,724)Other expense, net926 655 Equity in loss of nonconsolidated affiliates2,646 3,530 Impairment charges922,681 965,087 Other operating expense, net2,767 4,361 Share-based compensation expense32,311 35,625 Restructuring expenses101,384 60,353 Adjusted EBITDA(1)$705,617 $696,598 

(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, net. Alternatively, Adjusted EBITDA is calculated as Net loss, adjusted to exclude Income tax benefit, Interest expense, net, Depreciation and amortization, (Gain) loss on investments, net, (Gain) loss on extinguishment of debt and exchange costs, Other expense, net, Equity in loss of nonconsolidated affiliates, Impairment charges, Other operating expense, net, 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 to evaluate the Company’s operating performance. This measure is among the primary measures used