Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 160

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 160
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 Property, Plant and Equipment, Intangible Assets and Goodwill.The Company’s effective tax rate for the year ended December 31, 2022 was (1.8)%. The effective rate for the year was primarily impacted by the valuation allowance adjustments recorded during the year against certain federal and state deferred tax assets for disallowed interest carryforwards due to the uncertainty of the ability to realize those assets in future years. The Company continues to record interest and penalties related to unrecognized tax benefits in current income tax expense. The total amount of interest accrued at December 31, 2024 and 2023 was $18.2 million and $9.3 million, respectively. The total amount of unrecognized tax benefits including accrued interest and penalties at December 31, 2024 and 2023 was $166.6 million and $133.1 million, respectively, of which $166.4 million and $132.6 million is included in “Other long-term liabilities”. In addition, $0.2 million and $0.5 million of unrecognized tax benefits are recorded net with the Company’s deferred tax assets for its net operating losses as opposed to being recorded in “Other long-term liabilities” at December 31, 2024 and 2023, respectively. The total amount of unrecognized tax benefits at December 31, 2024 and 2023 that, if recognized, 

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IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

would impact the effective income tax rate is $40.9 million and $32.6 million, respectively. The potential reduction in unrecognized tax benefits during the next 12 months is not expected to be material.(In thousands)Year Ended December 31,Unrecognized Tax Benefits20242023Balance at beginning of period$123,822 $23,823 Increases for tax position taken in the current year10,436 52,856 Increases for tax positions taken in previous years16,521 48,194 Decreases for tax position taken in previous years(933)— Decreases due to lapse of statute of limitations(1,445)(1,051)Balance at end of period$148,401 $123,822 The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. All federal income tax matters through 2020 are closed. The majority of all material