iHeartMedia Inc. (IHRT) Financial Statements (2024 and earlier)

Company Profile

Business Address 20880 STONE OAK PARKWAY
SAN ANTONIO, TX 78258
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 4832 - Radio Broadcasting Stations (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments346336352721400406
Cash and cash equivalents346336352721400406
Receivables1,0411,0381,0308019031,575
Inventory, net of allowances, customer advances and progress billings   31118
Inventory   31118
Prepaid expense9379668072195
Other current assets262024174158
Other undisclosed current assets   (3)(1)(1)(18)
Total current assets:1,5071,4731,4731,6191,4162,235
Noncurrent Assets
Operating lease, right-of-use asset705788741826 
Property, plant and equipment   782812  
Long-term investments and receivables 1113  6499
Long-term investments 1113  3173
Accounts and financing receivable, after allowance for credit loss     3326
Intangible assets, net (including goodwill)4,0095,2095,7585,841  
Goodwill1,7212,3132,3142,146  
Intangible assets, net (excluding goodwill)2,2872,8963,4453,695  
Prepaid expense     07
Deposits noncurrent assets     428
Restricted cash and investments      16
Other noncurrent assets173171127106  
Other undisclosed noncurrent assets548681  28132
Total noncurrent assets:5,4466,8637,4087,58496282
Other undisclosed assets     9,5099,752
TOTAL ASSETS:6,9538,3368,8819,20311,02112,270
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities554566627483441993
Interest and dividends payable6868843
Accounts payable23624020614987163
Accrued liabilities318325353266270827
Debt011358746
Contract with customer, liability208
Other undisclosed current liabilities294265222200140 
Total current liabilities:8488328497186671,248
Noncurrent Liabilities
Long-term debt and lease obligation5,2155,4146,4776,7476,5535,277
Long-term debt, excluding current maturities5,2155,4145,7385,9825,7575,277
Liabilities, other than long-term debt, including:1,2741,406817158490
Asset retirement obligations   44444
Deferred income tax liabilities340484   
Other liabilities17273    
Operating lease, liability763849739764796
Other undisclosed liabilities, other than long-term debt   766754446
Other undisclosed noncurrent liabilities   55861679716,815
Total noncurrent liabilities:6,4896,8207,1167,4347,40822,582
Total liabilities:7,3377,6517,9668,1528,07623,830
Equity
Equity, attributable to parent(394)6759071,0422,936(11,591)
Treasury stock, value(10)(9)(6)(3)(2)(3)
Additional paid in capital2,9472,9132,8772,8492,8272,075
Accumulated other comprehensive income (loss)(1)(1)(0)0(1)(318)
Retained earnings (accumulated deficit)(3,330)(2,227)(1,963)(1,804)113(13,345)
Equity, attributable to noncontrolling interest91088931
Other undisclosed equity000000
Total equity:(385)6859161,0512,945(11,560)
TOTAL LIABILITIES AND EQUITY:6,9538,3368,8819,20311,02112,270

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues3,7513,9123,5582,948 6,326
Operating leases, income statement, lease revenue1,332
Cost of revenue
(Cost of Goods and Services Sold)
(1,494)(1,480)(1,325)(1,163) (2,533)
Gross profit:2,2572,4322,2341,785 3,793
Operating expenses    (2,964) (1,937)
Other operating expense, net(4)(25)(32)(11) (7)
Other undisclosed operating loss(3,050)(2,350)(2,047)(548) (868)
Operating income (loss):(797)57155(1,738) 981
Nonoperating income (expense)(29)(3)29(17) (59)
Investment income, nonoperating(28)(1)44(9) (1)
Loss, foreign currency transaction, before tax      (33)
Other nonoperating expense(1)(2)(15)(8) (25)
Interest and debt expense5730(12)  (723)
Income (loss) from continuing operations before equity method investments, income taxes:(769)84172(1,755) 199
Income (loss) from equity method investments(4)(0)(1)(0) 1
Other undisclosed loss from continuing operations before income taxes   (321)(344) (356)
Income (loss) from continuing operations before income taxes:(773)84(150)(2,099) (156)
Income tax expense (benefit)62(5)(8)184(39)(46)
Income (loss) from continuing operations:(711)79(158)(1,915)(39)(203)
Loss before gain (loss) on sale of properties:(158)(1,915)(39)(203)
Other undisclosed net loss(390)(342)    
Net loss:(1,100)(263)(158)(1,915)(39)(203)
Net income (loss) attributable to noncontrolling interest(2)(2)(1)1 1
Net loss available to common stockholders, diluted:(1,103)(265)(159)(1,915)(39)(202)

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(1,100)(263)(158)(1,915)(39)(203)
Other comprehensive income (loss)    1 (14)
Other undisclosed comprehensive income (loss)(2)(3)(1)1 1
Comprehensive loss:(1,102)(266)(160)(1,914)(39)(216)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(2)(2)(1)1 9
Other undisclosed comprehensive income (loss), net of tax, attributable to parent221(1)  
Comprehensive loss, net of tax, attributable to parent:(1,102)(266)(160)(1,914)(39)(208)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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