Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 111

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 111
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 and accuracy. We also obtained external confirmations from legal representatives with respect to the completeness of documents associated with the Transaction to be considered in the Company’s accounting assessments. With respect to the income tax accounting for the transaction, we evaluated management’s calculations and tax technical positions. We involved our valuation specialists to assist us in auditing the related valuations used to support the tax accounting principles and tax technical guidance.

/s/ Ernst & Young LLP

We have served as the Company’s auditor since at least 1986, but we are unable to determine the specific year. 

San Antonio, Texas

February 27, 2025

56

CONSOLIDATED BALANCE SHEETS OF

IHEARTMEDIA, INC. AND SUBSIDIARIES

(In thousands, except share and per share data)December 31,2024December 31,2023CURRENT ASSETSCash and cash equivalents$259,580 $346,382 Accounts receivable, net of allowance of $36,552 in 2024 and $38,055 in 2023993,328 1,041,214 Prepaid expenses97,332 93,131 Other current assets11,602 26,189 Total Current Assets1,361,842 1,506,916 PROPERTY, PLANT AND EQUIPMENTProperty, plant and equipment, net489,843 558,865 INTANGIBLE ASSETS AND GOODWILLIndefinite-lived intangibles - licenses809,928 1,113,979 Other intangibles, net927,582 1,173,210 Goodwill1,105,156 1,721,483 OTHER ASSETSOperating lease right-of-use assets668,165 704,992 Other assets209,180 173,166 Total Assets$5,571,696 $6,952,611 CURRENT LIABILITIES  Accounts payable$253,264 $236,162 Current operating lease liabilities69,516 73,832 Accrued expenses348,119 317,575 Accrued interest22,535 61,987 Deferred revenue154,345 158,540 Current portion of long-term debt22,501 340 Total Current Liabilities870,280 848,436 Long-term debt5,048,968 5,214,810 Noncurrent operating lease liabilities716,586 762,820 Deferred income taxes102,898 339,768