Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 137

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 137
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 debt and equity securities for a sustained period. The June 30, 2024 interim impairment test resulted in a $616.1 million impairment of goodwill. In determining the fair value of our reporting units, the Company considered industry and market factors including trading multiples of similar businesses and the trading prices of its debt and equity securities. There were no significant changes to assumptions used for the 2024 annual impairment test. No impairment was identified related to our goodwill balance as a result of the 2024 annual impairment test performed during the third quarter. The Company also recognized non-cash impairment of $595.5 million as a result of its interim impairment test performed as of June 30, 2023. No impairment was identified related to our goodwill balance as a result of the 2023 annual impairment test performed during the third quarter of 2023. No goodwill impairment was recorded for 2022.

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IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 5 – INVESTMENTS

The following table summarizes the Company's investments in nonconsolidated affiliates and other securities: (In thousands)Available-for-Sale Debt SecuritiesEquity Method InvestmentsOther InvestmentsMarketable Equity SecuritiesTotal InvestmentsBalance at December 31, 2022$39,113 $13,419 $72,237 $452 $125,221 Purchases of investments39,775 796 1,937 341 42,849 Equity in loss of nonconsolidated affiliates— (3,530)— — (3,530)Disposals — — — (3,864)(3,864)Loss on investments(15,591)— (7,167)(5,372)(28,130)Conversions and other(15,474)— 7,146 10,000 1,672 Balance at December 31, 2023$47,823 $10,685 $74,153 $1,557 $134,218 Purchases of investments49,635 5,933 7,850 — 63,418 Equity in loss of nonconsolidated affiliates— (2,646)— — (2,646)Disposals— — (101,357)(399)(101,756)Gain (loss) on investments, net(14,442)— 91,123