Company: IHETW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001400891-25-000046
Chunk: 17

Company: iHeartMedia, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 17
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 recognized during the three months ended June 30, 2024.The implicit rate within the Company's lease agreements is generally not determinable. As such, the Company uses the incremental borrowing rate ("IBR") to determine the present value of lease payments at the commencement of the lease. The IBR, as defined in ASC 842, is "the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment." The following table provides supplemental cash flow information related to leases for the periods presented:Six Months Ended June 30,(In thousands)20252024Cash paid for amounts included in measurement of operating lease liabilities$72,805 $75,069 Lease liabilities arising from obtaining right-of-use assets(1)12,241 13,022 (1)Lease liabilities from obtaining right-of-use assets include new leases entered into during the six months ended June 30, 2025 and 2024, respectively.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 $17.2 million and $15.9 million for the three months ended June 30, 2025 and 2024, respectively. The non-cash operating lease expense was $32.9 million and $31.5 million for the six months ended June 30, 2025 and 2024, respectively.

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

NOTE 4 – PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL

Property, Plant and EquipmentThe Company’s property, plant and equipment consisted of the following classes of assets:(In thousands)June 30,2025December 31,2024Land, buildings and improvements$328,859 $335,502 Towers, transmitters and studio equipment211,757 207,349 Computer equipment and software707,023 741,259 Furniture and other equipment53,827 54,108 Construction in progress20,075 12,186 1,321,541 1,350,404 Less: accumulated depreciation870,291 860,561 Property, plant and equipment, net$451,250