Guarantor Subsidiaries

12 Months Ended

Dec. 31, 2011

Guarantor Subsidiaries [Abstract]

Guarantor Subsidiaries

NOTE 16 – GUARANTOR SUBSIDIARIES

The Company and certain of Clear Channel's direct and indirect wholly-owned domestic subsidiaries (the "Guarantor Subsidiaries") fully and unconditionally guaranteed on a joint and several basis certain of Clear Channel's outstanding indebtedness. The following consolidating schedules present financial information on a combined basis in conformity with the SEC's Regulation S-X Rule 3-10(d):

(In thousands)	As of December 31, 2011
	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Cash and cash equivalents	$	—	$	1	$	461,572	$	767,109	$	—	$	1,228,682
Accounts receivable, net of allowance		—		—		694,548		710,126		—		1,404,674
Intercompany receivables (1)		30,270		4,824,634		—		—		(4,854,904)		—
Prepaid expenses		2,251		—		25,944		133,122		—		161,317
Other current assets		—		46,018		81,620		139,034		(76,060)		190,612
Total Current Assets		32,521		4,870,653		1,263,684		1,749,391		(4,930,964)		2,985,285
Property, plant and equipment, net		—		—		815,245		2,248,082		—		3,063,327
Definite-lived intangibles, net		—		—		1,389,935		627,825		—		2,017,760
Indefinite-lived intangibles – licenses		—		—		2,411,367		—		—		2,411,367
Indefinite-lived intangibles – permits		—		—		—		1,105,704		—		1,105,704
Goodwill		—		—		3,325,771		860,947		—		4,186,718
Intercompany notes receivable		—		962,000		—		—		(962,000)		—
Long-term intercompany receivable		—		—		—		656,040		(656,040)		—
Investment in subsidiaries		(8,342,987)		5,234,229		2,844,451		—		264,307		—
Other assets		—		167,337		254,435		907,567		(557,461)		771,878
Total Assets	$	(8,310,466)	$	11,234,219	$	12,304,888	$	8,155,556	$	(6,842,158)	$	16,542,039
Accounts payable	$	—	$	—	$	26,119	$	108,457	$	—	$	134,576
Accrued expenses		(641)	$	(61,478)		266,249		518,021		—		722,151
Accrued interest		—		189,144		(1)		2,277		(31,059)		160,361
Intercompany payable (1)		—		—		4,743,944		110,960		(4,854,904)		—
Current portion of long-term debt		—		243,927		905		23,806		—		268,638
Deferred income		—		—		50,416		92,820		—		143,236
Total Current Liabilities		(641)		371,593		5,087,632		856,341		(4,885,963)		1,428,962
Long-term debt		—		18,305,183		3,321		2,522,103		(892,076)		19,938,531
Long-term intercompany payable		—		655,930		110		—		(656,040)		—
Intercompany long-term debt		—		—		962,000		—		(962,000)		—
Deferred income taxes		(13,845)		39,173		1,055,533		858,908		(1,170)		1,938,599
Other long-term liabilities		—		205,327		220,546		282,015		—		707,888
Total member's interest (deficit)		(8,295,980)		(8,342,987)		4,975,746		3,636,189		555,091		(7,471,941)
Total Liabilities and Member's Interest (Deficit)	$	(8,310,466)	$	11,234,219	$	12,304,888	$	8,155,556	$	(6,842,158)	$	16,542,039

(1) The intercompany payable balance includes approximately $7.3 billion of designated amounts of borrowings under the senior secured credit facilities by certain Guarantor Subsidiaries that are Co-Borrowers and primary obligors thereunder with respect to these amounts. These amounts were incurred by the Co-Borrowers at the time of the closing of the merger, but were funded and will be repaid through accounts of the Subsidiary Issuer. The intercompany receivables balance includes the amount of such borrowings, which are required to be repaid to the lenders under the senior secured credit facilities by the Guarantor Subsidiaries as Co-Borrowers and primary obligors thereunder.

(In thousands)	As of December 31, 2010
	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Cash and cash equivalents	$	—	$	1	$	1,220,362	$	700,563	$	—	$	1,920,926
Accounts receivable, net of allowance		—		—		636,970		736,910		—		1,373,880
Intercompany receivables (1)		28,826		6,910,565		53,162		—		(6,992,553)		—
Prepaid expenses		1,827		—		21,493		100,794		—		124,114
Other current assets		—		42,480		56,105		257,288		(171,620)		184,253
Total Current Assets		30,653		6,953,046		1,988,092		1,795,555		(7,164,173)		3,603,173
Property, plant and equipment, net		—		—		846,459		2,299,095		—		3,145,554
Definite-lived intangibles, net		—		—		1,572,829		715,320		—		2,288,149
Indefinite-lived intangibles – licenses		—		—		2,423,828		—		—		2,423,828
Indefinite-lived intangibles – permits		—		—		—		1,114,413		—		1,114,413
Goodwill		—		—		3,253,330		865,996		—		4,119,326
Intercompany notes receivable		—		212,000		—		—		(212,000)		—
Long-term intercompany receivable		—		—		—		383,778		(383,778)		—
Investment in subsidiaries		(8,120,253)		4,515,224		2,821,678		—		783,351		—
Other assets		—		178,550		225,064		800,818		(438,493)		765,939
Total Assets	$	(8,089,600)	$	11,858,820	$	13,131,280	$	7,974,975	$	(7,415,093)	$	17,460,382
Accounts payable	$	—	$	—	$	26,550	$	100,713	$	—	$	127,263
Accrued expenses		(941)	$	(87,577)		373,899		544,223		—		829,604
Accrued interest		—		151,465		—		1,157		(31,423)		121,199
Intercompany payable (1)		—		—		6,939,391		53,162		(6,992,553)		—
Current portion of long-term debt		—		826,059		—		41,676		—		867,735
Deferred income		—		—		49,423		103,355		—		152,778
Total Current Liabilities		(941)		889,947		7,389,263		844,286		(7,023,976)		2,098,579
Long-term debt		—		18,172,562		4,000		2,522,133		(959,078)		19,739,617
Long-term intercompany payable		—		383,778		—		—		(383,778)		—
Intercompany long-term debt		—		—		212,000		—		(212,000)		—
Deferred income taxes		(12,665)		269,578		927,685		865,598		—		2,050,196
Other long-term liabilities		—		263,208		261,434		252,034		—		776,676
Total member's interest (deficit)		(8,075,994)		(8,120,253)		4,336,898		3,490,924		1,163,739		(7,204,686)
Total Liabilities and Member's Interest (Deficit)	$	(8,089,600)	$	11,858,820	$	13,131,280	$	7,974,975	$	(7,415,093)	$	17,460,382

(2) The intercompany payable balance includes approximately $7.3 billion of designated amounts of borrowings under the senior secured credit facilities by certain Guarantor Subsidiaries that are Co-Borrowers and primary obligors thereunder with respect to these amounts. These amounts were incurred by the Co-Borrowers at the time of the closing of the merger, but were funded and will be repaid through accounts of the Subsidiary Issuer. The intercompany receivables balance includes the amount of such borrowings, which are required to be repaid to the lenders under the senior secured credit facilities by the Guarantor Subsidiaries as Co-Borrowers and primary obligors thereunder.

(In thousands)	Year Ended December 31, 2011
	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Revenue	$	—	$	—	$	3,121,308	$	3,059,676	$	(19,632)	$	6,161,352
Operating expenses:
Direct operating expenses		—		—		849,834		1,660,786		(6,584)		2,504,036
Selling, general and administrative expenses		—		—		1,062,726		567,580		(13,048)		1,617,258
Corporate expenses		10,878		—		125,964		90,254		—		227,096
Depreciation and amortization		—		—		327,240		436,066		—		763,306
Impairment charges		—		—		—		7,614		—		7,614
Other operating income– net		—		—		4,091		8,591		—		12,682
Operating income (loss)		(10,878)		—		759,635		305,967		—		1,054,724
Interest expense, net		13		1,360,995		2,370		27,321		75,547		1,466,246
Loss on marketable securities		—		—		—		(4,827)		—		(4,827)
Equity in earnings (loss) of nonconsolidated affiliates		(223,915)		629,915		54,407		26,987		(460,436)		26,958
Other income (expense) – net		(1)		(5,720)		589		(3,759)		4,275		(4,616)
Income before income taxes		(234,807)		(736,800)		812,261		297,047		(531,708)		(394,007)
Income tax benefit (expense)		3,985		512,885		(274,930)		(115,962)		—		125,978
Consolidated net income (loss)		(230,822)		(223,915)		537,331		181,085		(531,708)		(268,029)
Less amount attributable to noncontrolling interest		—		—		13,792		20,273		—		34,065
Net income (loss) attributable to the Company	$	(230,822)	$	(223,915)	$	523,539	$	160,812	$	(531,708)	$	(302,094)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		—		—		1,267		(30,914)		—		(29,647)
Unrealized gain (loss) on securities and derivatives:
Unrealized holding gain (loss) on marketable securities		—		—		4,610		(2,874)		(1,960)		(224)
Unrealized holding gain on cash flow derivatives		—		33,775		—		—		—		33,775
Reclassification adjustment		—		—		—		3,787		—		3,787
Equity in subsidiary comprehensive income (loss)		5,518		(28,257)		(38,702)		—		61,441		—
Comprehensive income (loss)		(225,304)		(218,397)		490,714		130,811		(472,227)		(294,403)
Less amount attributable to noncontrolling interest		—		—		(4,594)		8,918		—		4,324
Comprehensive income (loss) attributable to the Company	$	(225,304)	$	(218,397)	$	495,308	$	121,893	$	(472,227)	$	(298,727)

(In thousands)	Year Ended December 31, 2010
	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Revenue	$	—	$	—	$	3,044,866	$	2,824,400	$	(3,581)	$	5,865,685
Operating expenses:
Direct operating expenses		—		—		818,001		1,564,515		(869)		2,381,647
Selling, general and administrative expenses		—		—		1,060,262		512,662		(2,712)		1,570,212
Corporate expenses		12,274		28		164,144		107,596		—		284,042
Depreciation and amortization		—		—		317,761		415,108		—		732,869
Impairment charges		—		—		3,871		11,493		—		15,364
Other operating income (expense) –net		—		—		7,043		(23,753)		—		(16,710)
Operating income (loss)		(12,274)		(28)		687,870		189,273		—		864,841
Interest expense, net		17		1,415,932		379		40,198		76,815		1,533,341
Loss on marketable securities		—		—		—		(6,490)		—		(6,490)
Equity in earnings (loss) of nonconsolidated affiliates		(454,779)		428,976		(80,040)		5,749		105,796		5,702
Other income (expense) – net		(1)		(1)		(2,496)		(11,336)		60,289		46,455
Income before income taxes		(467,071)		(986,985)		604,955		136,998		89,270		(622,833)
Income tax benefit (expense)		4,508		532,206		(283,171)		(93,563)		—		159,980
Consolidated net income (loss)		(462,563)		(454,779)		321,784		43,435		89,270		(462,853)
Less amount attributable to noncontrolling interest		—		—		5,130		11,106		—		16,236
Net income (loss) attributable to the Company	$	(462,563)	$	(454,779)	$	316,654	$	32,329	$	89,270	$	(479,089)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		—		—		(903)		27,204		—		26,301
Unrealized gain (loss) on securities and derivatives:
Unrealized holding gain (loss) on marketable securities		—		—		24,996		(7,809)		—		17,187
Unrealized holding gain on cash flow derivatives		—		15,112		—		—		—		15,112
Reclassification adjustment		—		—		—		14,750		—		14,750
Equity in subsidiary comprehensive income (loss)		64,493		49,381		26,528		—		(140,402)		—
Comprehensive income (loss)		(398,070)		(390,286)		367,275		66,474		(51,132)		(405,739)
Less amount attributable to noncontrolling interest		—		—		1,240		7,617		—		8,857
Comprehensive income (loss) attributable to the Company	$	(398,070)	$	(390,286)	$	366,035	$	58,857	$	(51,132)	$	(414,596)

(In thousands)	Year Ended December 31, 2009
	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Revenue	$	—	$	—	$	2,831,773	$	2,723,840	$	(3,704)	$	5,551,909
Operating expenses:
Direct operating expenses		—		—		900,061		1,630,330		(937)		2,529,454
Selling, general and administrative expenses		—		—		1,021,492		501,677		(2,767)		1,520,402
Corporate expenses		14,690		15		174,012		65,247		—		253,964
Depreciation and amortization		—		—		324,204		441,270		—		765,474
Merger expenses		—		—		—		—		—		—
Impairment charges		—		—		3,223,941		894,983		—		4,118,924
Other operating expense – net		—		—		(42,606)		(8,231)		—		(50,837)
Operating loss		(14,690)		(15)		(2,854,543)		(817,898)		—		(3,687,146)
Interest expense, net		20		1,371,161		20,218		83,846		25,621		1,500,866
Loss on marketable securities		—		—		(273)		(13,098)		—		(13,371)
Equity in earnings (loss) of nonconsolidated affiliates		(4,367,740)		(3,770,825)		(872,212)		(20,622)		9,010,710		(20,689)
Other income (expense) – net		—		407,748		(10,642)		(85,981)		368,591		679,716
Income before income taxes		(4,382,450)		(4,734,253)		(3,757,888)		(1,021,445)		9,353,680		(4,542,356)
Income tax benefit (expense)		5,394		366,513		(25,702)		147,115		—		493,320
Consolidated net income (loss)		(4,377,056)		(4,367,740)		(3,783,590)		(874,330)		9,353,680		(4,049,036)
Less amount attributable to noncontrolling interest		—		—		(10,604)		(4,346)		—		(14,950)
Net income (loss) attributable to the Company	$	(4,377,056)	$	(4,367,740)	$	(3,772,986)	$	(869,984)	$	9,353,680	$	(4,034,086)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments		—		—		6,457		144,965		—		151,422
Unrealized gain (loss) on securities and derivatives:
Unrealized holding gain (loss) on marketable securities		—		—		11,649		(9,971)		—		1,678
Unrealized holding loss on cash flow derivatives		—		(74,100)		—		—		—		(74,100)
Reclassification adjustment		—		—		(4,692)		14,700		—		10,008
Equity in subsidiary comprehensive income (loss)		68,220		142,322		141,644		—		(352,186)		—
Comprehensive income (loss)		(4,308,836)		(4,299,518)		(3,617,928)		(720,290)		9,001,494		(3,945,078)
Less amount attributable to noncontrolling interest		—		—		12,738		8,050		—		20,788
Comprehensive income (loss) attributable to the Company	$	(4,308,836)	$	(4,299,518)	$	(3,630,666)	$	(728,340)	$	9,001,494	$	(3,965,866)

	Year Ended December 31, 2011
(In thousands)	Parent Company		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Consolidated net income (loss)	$	(230,822)	$	(223,915)	$	537,331	$	181,085	$	(531,708)	$	(268,029)
Reconciling items:
Impairment charges								7,614				7,614
Depreciation and amortization		—		—		327,240		436,066		—		763,306
Deferred taxes		(1,180)		(249,392)		109,795		(3,167)		—		(143,944)
Gain on disposal of operating assets		—		—		(4,091)		(8,591)		—		(12,682)
(Gain) loss on extinguishment of debt		—		5,721		1		—		(4,275)		1,447
Loss on marketable securities		—		—		—		4,827		—		4,827
Provision for doubtful accounts		—		—		7,604		6,119		—		13,723
Share-based compensation		—		—		9,754		10,913		—		20,667
Equity in (earnings) loss of nonconsolidated affiliates		223,915		(629,915)		(54,407)		(26,987)		460,436		(26,958)
Amortization of deferred financing charges and note discounts, net		—		222,908		(6,144)		(104,277)		75,547		188,034
Other reconciling items – net		—		—		1,083		15,037		—		16,120
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable		—		—		(13,090)		5,255		—		(7,835)
Decrease in accrued expenses		—		(4,341)		(93,854)		(29,047)		—		(127,242)
Increase (decrease) in accounts payable and other liabilities		—		—		(52,995)		37,864		—		(15,131)
Increase in accrued interest		—		16,866		20,813		1,127		364		39,170
Decrease in deferred income		—		—		(427)		(10,349)		—		(10,776)
Changes in other operating assets and liabilities, net of effects of acquisitions and dispositions		(125)		26,946		(78,254)		(16,556)		(364)		(68,353)
Net cash provided by (used for) operating activities		(8,212)		(835,122)		710,359		506,933		—		373,958
Cash flows from investing activities:
Proceeds from maturity of Clear Channel notes		—		—		—		167,022		(167,022)		—
Proceeds from other investments		—		—		(700)		7,594				6,894
Purchases of property, plant and equipment		—		—		(69,650)		(292,631)		—		(362,281)
Purchases of businesses		—		—		(207)		(46,149)		—		(46,356)
Purchases of other operating assets		—		—		(6,201)		(14,794)		—		(20,995)
Proceeds from disposal of assets		—		—		41,387		12,883		—		54,270
Investment in Clear Channel notes		—		—		—		(55,250)		55,250		—
Change in other – net		—		—		69		(16,761)		17,074		382
Net cash provided by (used for) investing activities		—		—		(35,302)		(238,086)		(94,698)		(368,086)
Cash flows from financing activities:
Draws on credit facilities		—		55,000		—		—		—		55,000
Payments on credit facilities		—		(956,181)		—		(4,151)		—		(960,332)
Intercompany funding		8,518		1,486,401		(1,414,366)		(80,553)		—		—
Proceeds from long-term debt		—		1,724,650		1,604		5,012		—		1,731,266
Payments on long-term debt		—		(1,428,051)		(22,155)		(115,115)		167,022		(1,398,299)
Deferred financing charges		—		(46,697)		38		—		—		(46,659)
Repurchases of long-term debt		—		—		—		—		(55,250)		(55,250)
Change in other – net		(306)		—		1,032		(7,494)		(17,074)		(23,842)
Net cash provided by (used for) financing activities		8,212		835,122		(1,433,847)		(202,301)		94,698		(698,116)
Net increase (decrease) in cash and cash equivalents		—		—		(758,790)		66,546		—		(692,244)
Cash and cash equivalents at beginning of period		—		1		1,220,362		700,563		—		1,920,926
Cash and cash equivalents at end of period	$	—	$	1	$	461,572	$	767,109	$	—	$	1,228,682

	Year Ended December 31, 2010
(In thousands)	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Consolidated net income (loss)	$	(462,563)	$	(454,779)	$	321,784	$	43,435	$	89,270	$	(462,853)
Reconciling items:
Impairment charges		—		—		3,871		11,493		—		15,364
Depreciation and amortization		—		—		317,761		415,108		—		732,869
Deferred taxes		(1,445)		(250,630)		56,272		(15,377)		—		(211,180)
Provision for doubtful accounts		—		—		14,312		8,806		—		23,118
Amortization of deferred financing charges and note discounts, net		—		251,590		(3,908)		(109,547)		76,815		214,950
Share-based compensation		—		—		22,200		12,046		—		34,246
(Gain) loss on sale of operating assets		—		—		(7,043)		23,753		—		16,710
Loss on securities		—		—		—		6,490		—		6,490
Equity in (earnings) loss of nonconsolidated affiliates		454,779		(428,976)		80,040		(5,749)		(105,796)		(5,702)
Gain on debt extinguishment		—		—		—		—		(60,289)		(60,289)
Other reconciling items - net		—		—		(149)		26,239		—		26,090
Changes in operating assets and liabilities:
Increase in accounts receivable		—		—		(73,082)		(46,778)		—		(119,860)
(Increase) decrease in Federal income taxes receivable		4,187		382,024		(304,098)		50,196		—		132,309
Increase (decrease) in accounts payable and other liabilities		—		—		(11,740)		4,816		—		(6,924)
Increase in accrued expenses		—		—		71,525		45,907		—		117,432
Increase (decrease) in accrued interest		—		131,055		—		243		(44,245)		87,053
Increase (decrease) in deferred income		—		—		8,024		(7,228)		—		796
Changes in other operating assets and liabilities, net of effects of acquisitions and dispositions		(547)		(79,835)		34,229		43,662		44,245		41,754
Net cash provided by (used for) operating activities		(5,589)		(449,551)		529,998		507,515		—		582,373
Cash flows from investing activities:
Investment in Clear Channel notes		—		—		(125,000)		—		125,000		—
Proceeds from maturity of Clear Channel notes		—		—		—		10,025		(10,025)		—
Proceeds from sales of other investments		—		—		—		18,700		(17,500)		1,200
Purchases of property, plant and equipment		—		—		(45,868)		(195,596)		—		(241,464)
Proceeds from disposal of assets		—		—		20,884		7,753		—		28,637
Purchases of other operating assets		—		—		(14,269)		(1,841)		—		(16,110)
Change in other – net		—		—		35,325		(12,335)		(35,450)		(12,460)
Net cash provided by (used for) investing activities		—		—		(128,928)		(173,294)		62,025		(240,197)
Cash flows from financing activities:
Draws on credit facilities		—		194,000		—		4,670		—		198,670
Payments on credit facilities		—		(105,500)		—		(47,095)		—		(152,595)
Proceeds from long-term debt		—		138,795		—		6,844		—		145,639
Payments on long-term debt		—		(383,682)		(4)		(13,211)		27,525		(369,372)
Repurchases of long-term debt		—		—		—		—		(125,000)		(125,000)
Intercompany funding		2,975		605,939		(439,697)		(169,217)		—		—
Change in other - net		2,614		—		—		(40,650)		35,450		(2,586)
Net cash provided by (used for) financing activities		5,589		449,552		(439,701)		(258,659)		(62,025)		(305,244)
Net increase (decrease) in cash and cash equivalents		—		1		(38,631)		75,562		—		36,932
Cash and cash equivalents at beginning of period		—		—		1,258,993		625,001		—		1,883,994
Cash and cash equivalents at end of period	$	—	$	1	$	1,220,362	$	700,563	$	—	$	1,920,926

	Year Ended December 31, 2009
(In thousands)	Parent		Subsidiary		Guarantor		Non-Guarantor
	Company		Issuer		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Cash flows from operating activities:
Consolidated net income (loss)	$	(4,377,056)	$	(4,367,740)	$	(3,783,590)	$	(874,330)	$	9,353,680	$	(4,049,036)
Reconciling items:
Impairment charges		—		—		3,223,941		894,983		—		4,118,924
Depreciation and amortization		—		—		324,204		441,270		—		765,474
Deferred taxes		1,008		216,303		(489,556)		(144,946)		—		(417,191)
Provision for doubtful accounts		—		—		34,815		17,683		—		52,498
Amortization of deferred financing charges and note discounts, net		—		249,295		—		(45,452)		25,621		229,464
Share-based compensation		—		—		27,682		12,104		—		39,786
Loss on sale of operating assets		—		—		42,606		8,231		—		50,837
Loss on securities		—		—		273		13,098		—		13,371
Equity in (earnings) loss of nonconsolidated affiliates		4,367,740		3,770,825		872,212		20,622		(9,010,710)		20,689
(Gain) loss on debt extinguishment		—		(411,267)		—		66,824		(368,591)		(713,034)
Other reconciling items - net		—		—		8,638		37,528		—		46,166
Changes in operating assets and liabilities:
Decrease in accounts receivable		—		—		30,937		68,288		—		99,225
(Decrease) increase in Federal income taxes receivable		1,960		178,432		(102,673)		(1,780)		—		75,939
Increase in accounts payable and other liabilities		—		—		20,217		3,819		—		24,036
Increase (decrease) in accrued expenses				—		(59,908)		7,938		—		(51,970)
Increase (decrease) in accrued interest		—		58,070		(7,699)		621		(17,945)		33,047
Increase (decrease) in deferred income		—		—		4,690		(2,522)		—		2,168
Changes in other operating assets and liabilities, net of effects of acquisitions and dispositions		(4,935)		(419,910)		314,878		(49,251)		—		(159,218)
Net cash provided by (used for) operating activities		(11,283)		(725,992)		461,667		474,728		(17,945)		181,175
Cash flows from investing activities:
Decrease (increase) in intercompany notes receivable – net		—		2,500,000		—		—		(2,500,000)		—
Investment in subsidiaries		—		(318,898)		—		—		318,898		—
Investment in Clear Channel notes		—		—		—		(361,411)		361,411		—
Proceeds from maturity of Clear Channel notes		—		—		—		33,500		(33,500)		—
Proceeds from sales of other investments		—		—		810		40,817		—		41,627
Purchases of property, plant and equipment		—		—		(47,377)		(176,415)		—		(223,792)
Proceeds from disposal of assets		—		—		30,674		18,144		—		48,818
Purchases of other operating assets		—		—		(3,367)		(4,933)		—		(8,300)
Change in other – net		—		(2,914)		3,576		(764)		—		(102)
Net cash provided by (used for) investing activities		—		2,178,188		(15,684)		(451,062)		(1,853,191)		(141,749)
Cash flows from financing activities:
Draws on credit facilities		—		1,701,500		—		7,125		—		1,708,625
Payments on credit facilities		—		(698,877)		—		(3,364)		500,000		(202,241)
Proceeds from issuance of subsidiary senior notes		—		—		—		2,500,000		—		2,500,000
Proceeds from delayed draw term loan facility		—		500,000		—		—		—		500,000
Payments on long-term debt		—		(500,000)		(6)		(5,913)		33,500		(472,419)
Payments on senior secured credit facilities		—		(2,000,000)		—		—		—		(2,000,000)
Repayment of CCU Intercompany Note		—		—		—		(2,500,000)		2,500,000		—
Repurchases of long-term debt		—		—		—		—		(343,466)		(343,466)
Deferred financing charges		—		—		—		(60,330)		—		(60,330)
Intercompany funding		11,467		(454,819)		673,583		269,769		(500,000)		—
Proceeds from parent investment in subsidiaries		—		—		—		318,898		(318,898)		—
Change in other - net		(184)		—		—		(25,263)		—		(25,447)
Net cash provided by (used for) financing activities		11,283		(1,452,196)		673,577		500,922		1,871,136		1,604,722
Net increase in cash and cash equivalents		—		—		1,119,560		524,588		—		1,644,148
Cash and cash equivalents at beginning of period		—		—		139,433		100,413		—		239,846
Cash and cash equivalents at end of period	$	—	$	—	$	1,258,993	$	625,001	$	—	$	1,883,994