Company: IHETW
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001400891-25-000009
Chunk: 133

Company: iHeartMedia, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 133
---
 which was recorded in Other operating expense, net in the statement of comprehensive loss. The leases are for an initial term of ten years and include four optional five-year renewal periods. In connection with the transaction, the Company recorded ROU assets and lease liabilities with aggregate values of $26.3 million related to these leases. The following tables provide the components of lease expense included within the statement of comprehensive loss: Year Ended December 31,(In thousands)202420232022Operating lease expense$132,443 $132,059 $144,592 Variable lease expense27,150 25,114 32,398 Non-cash impairment of ROU assets2,045 6,058 8,683 The following table provides the weighted average remaining lease term and the weighted average discount rate for the Company's leases:Year Ended December 31,(In thousands)20242023Operating lease weighted average remaining lease term (in years)12.412.8Operating lease weighted average discount rate9.8 %9.1 %As of December 31, 2024, the Company’s future maturities of operating lease liabilities were as follows:(In thousands)2025$135,362 2026132,673 2027120,342 2028113,345 2029102,804 Thereafter834,175   Total lease payments$1,438,701 Less: Effect of discounting652,599   Total operating lease liability$786,102 The following table provides supplemental cash flow information related to leases:Year Ended December 31,(In thousands)202420232022Cash paid for amounts included in measurement of operating lease liabilities$149,432 $141,869 $141,340 Lease liabilities arising from obtaining right-of-use assets(1)29,81947,430 173,235 (1)Lease liabilities from obtaining right-of-use assets includes new leases entered into during the years ended December 31, 2024, 2023, and 2022.

71

IHEARTMEDIA, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The Company reflects changes in the lease liability and changes in the ROU asset on a net basis in the Statements of Cash Flows. The non-cash operating lease expense was $62.1 million, $67.1 million, and $87.2 million for the years ended December 31,