Equity And Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2012

Equity And Comprehensive Income (Loss) [Abstract]

Equity And Comprehensive Income (Loss)

NOTE 8 – EQUITY AND COMPREHENSIVE INCOME (LOSS)

The Company reports its noncontrolling interests in consolidated subsidiaries as a component of equity separate from the Company's equity. The following table shows the changes in equity attributable to the Company and the noncontrolling interests of subsidiaries in which the Company has a majority, but not total ownership interest:

(In thousands)			The Company		Noncontrolling Interests		Consolidated
Balances at January 1, 2012		$	(7,993,735)	$	521,794	$	(7,471,941)
	Net income (loss)		(182,654)		6,830		(175,824)
	Dividend		-		(244,734)		(244,734)
	Foreign currency translation adjustments		(1,190)		(2,101)		(3,291)
	Unrealized holding gain on marketable securities		730		1		731
	Unrealized holding gain on cash flow derivatives		24,514		-		24,514
	Reclassification adjustment		137		17		154
	Other - net		(1,194)		9,642		8,448
Balances at June 30, 2012		$	(8,153,392)	$	291,449	$	(7,861,943)
Balances at January 1, 2011		$	(7,695,606)	$	490,920	$	(7,204,686)
	Net income (loss)		(185,011)		15,673		(169,338)
	Foreign currency translation adjustments		62,817		13,055		75,872
	Unrealized holding gain on marketable securities		13,949		60		14,009
	Unrealized holding gain on cash flow derivatives		11,943		-		11,943
	Reclassification adjustment		131		17		148
	Other - net		(657)		2,684		2,027
Balances at June 30, 2011		$	(7,792,434)	$	522,409	$	(7,270,025)

The Company completed a voluntary stock option exchange program on March 21, 2011 and exchanged 2.5 million stock options granted under the Clear Channel 2008 Executive Incentive Plan for 1.3 million replacement stock options with a lower exercise price and different service and performance vesting conditions.  The Company accounted for the exchange program as a modification of the existing awards under ASC 718 and will recognize incremental compensation expense of approximately $1.0 million over the service period of the new awards.