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

Company: iHeartMedia, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 12
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 promised to the customer. The revenues and expenses may not be recognized in the same period depending on the timing of the services, advertising or promotion received in exchange for advertising spots. Trade and barter revenues and expenses, which are included in consolidated revenue and selling, general and administrative expenses, respectively, were as follows:Three Months EndedMarch 31,(In thousands)20252024  Trade and barter revenues$49,365 $41,305   Trade and barter expenses33,794 34,181 In addition to the trade and barter revenue in the table above, the Company recognized $10.3 million and $8.7 million during the three months ended March 31, 2025 and 2024, respectively, in connection with investments made in companies in exchange for advertising services.The following tables show the Company’s deferred revenue balance from contracts with customers:Three Months EndedMarch 31,(In thousands)20252024Deferred revenue from contracts with customers:  Beginning balance(1)$173,766 $181,899     Revenue recognized, included in beginning balance(66,932)(73,928)    Additions, net of revenue recognized during period, and other76,850 77,864   Ending balance$183,684 $185,835 (1)     Deferred revenue from contracts with customers is included within deferred revenue and other long-term liabilities on the Consolidated Balance Sheets, depending upon when revenue is expected to be recognized.

The Company’s contracts with customers generally have terms of one year or less; however, as of March 31, 2025, the Company expects to recognize $208.5 million of revenue in future periods for remaining performance obligations from current contracts with customers that have an original expected duration greater than one year, with substantially all of this amount to be recognized over the next five years. Commissions related to the Company’s media representation business have been excluded from this amount as they are contingent upon future sales. 

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

NOTE 3 – LEASES

The Company enters into operating lease contracts for land, buildings, structures and other equipment. Arrangements are evaluated at inception to determine whether such arrangements contain a lease. Operating leases primarily include land and building lease contracts and leases of radio towers. Arrangements to lease building space consist primarily of the rental of