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SHAREHOLDER'S INTEREST (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Schedule Of Changes In Member's Deficit and Other Comprehensive Loss

The following table shows the changes in stockholder’s deficit 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, 2014

   $ (8,942,166   $ 245,531     $ (8,696,635

Net loss

     (424,190     (8,200     (432,390

Foreign currency translation adjustments

     875       (3,092     (2,217

Unrealized holding gain on marketable securities

     955       129       1,084  

Other adjustments to comprehensive loss

     3,309       —         3,309  

Other, net

     430       (1,533     (1,103
  

 

 

   

 

 

   

 

 

 

Balances at March 31, 2014

   $ (9,360,787   $ 232,835     $ (9,127,952
  

 

 

   

 

 

   

 

 

 

Balances at January 1, 2013

   $ (8,299,188   $ 303,997     $ (7,995,191

Net loss

     (203,003     (6,116     (209,119

Foreign currency translation adjustments

     (20,306     (3,107     (23,413

Unrealized holding gain on marketable securities

     4,438       (3     4,435  

Unrealized holding gain on cash flow derivatives

     14,823       —         14,823  

Other adjustments to comprehensive loss

     (885     (113     (998

Other, net

     1,291       (1,531     (240
  

 

 

   

 

 

   

 

 

 

Balances at March 31, 2013

   $ (8,502,830   $ 293,127     $ (8,209,703
  

 

 

   

 

 

   

 

 

 

The following table shows the changes in shareholder’s deficit 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, 2013

   $ (8,299,188   $ 303,997      $ (7,995,191

Net income (loss)

     (606,883     23,366        (583,517

Dividends and other payments to noncontrolling interests

     —          (91,887     (91,887

Foreign currency translation adjustments

     (29,755     (3,246     (33,001

Unrealized holding gain on marketable securities

     16,439        137        16,576   

Unrealized holding gain on cash flow derivatives

     48,180        —          48,180   

Other adjustments to comprehensive loss

     5,932        800        6,732   

Other, net

     6,694        12,531        19,225   

Reclassifications

     (83,585     (167     (83,752
  

 

 

   

 

 

   

 

 

 

Balances at December 31, 2013

   $ (8,942,166   $ 245,531      $ (8,696,635
  

 

 

   

 

 

   

 

 

 

 

(In thousands)    The Company     Noncontrolling
Interests
    Consolidated  

Balances at January 1, 2012

   $ (7,993,736   $ 521,794      $ (7,471,942

Net income (loss)

     (424,479     13,289        (411,190

Dividends and other payments to noncontrolling interests

     —          (251,666     (251,666

Foreign currency translation adjustments

     34,433        5,809        40,242   

Unrealized holding gain (loss) on marketable securities

     23,396        (293     23,103   

Unrealized holding gain on cash flow derivatives

     52,112        —          52,112   

Other adjustments to comprehensive loss

     1,006        129        1,135   

Other, net

     6,268        14,702        20,970   

Reclassifications

     1,812        233        2,045   
  

 

 

   

 

 

   

 

 

 

Balances at December 31, 2012

   $ (8,299,188   $ 303,997      $ (7,995,191
  

 

 

   

 

 

   

 

 

 
Schedule of Stock Options and Valuation Assumptions  

The following assumptions were used to calculate the fair value of the options granted during the years ended December 31, 2012 and 2011:

 

     Years Ended December 31,
     2013 (1)    2012    2011

Expected volatility

   N/A    71% – 77%    67%

Expected life in years

   N/A    6.3 – 6.5    6.3 – 6.5

Risk-free interest rate

   N/A    0.97% – 1.55%    1.22% – 2.37%

Dividend yield

   N/A    0%    0%

 

(1) No options were granted in 2013

 

 

The risk free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods equal to the expected life of the option. The following assumptions were used to calculate the fair value of CCOH’s options on the date of grant:

 

     Years Ended December 31,
     2013    2012    2011

Expected volatility

   55% – 56%    54% – 56%    57%

Expected life in years

   6.3    6.3    6.3

Risk-free interest rate

   1.05% – 2.19%    0.92% – 1.48%    1.26% – 2.75%

Dividend yield

   0%    0%    0%

Schedule of Stock Options Vested and Expected to Vest Outstanding  

The following table presents a summary of CCMH’s stock options outstanding at and stock option activity during the year ended December 31, 2013 (“Price” reflects the weighted average exercise price per share):

 

(In thousands, except per share data)    Options     Price      Weighted
Average
Remaining
Contractual
Term
     Aggregate
Intrinsic
Value
 

Outstanding, January 1, 2013

     2,792      $ 30.82         

Granted (1)

     —          —           

Exercised

     —          —           

Forfeited

     (63     10.00         

Expired

     (220     10.63         
  

 

 

         

Outstanding, December 31, 2013 (2)

     2,509        33.11         5.5 years         —     
  

 

 

         

Exercisable

     1,423        32.03         4.9 years         —     

Expected to Vest

     1,062        35.08         6.2 years         —     

 

(1)  The weighted average grant date fair value of options granted during the years ended December 31, 2012, and 2011 was $2.68 and $2.69 per share, respectively. No options were granted during the year ended December 31, 2013.
(2)  Non-cash compensation expense has not been recorded with respect to 0.6 million shares as the vesting of these options is subject to performance conditions that have not yet been determined probable to meet.

 

The following table presents a summary of CCOH’s stock options outstanding at and stock option activity during the year ended December 31, 2013 (“Price” reflects the weighted average exercise price per share):

 

(In thousands, except per share data)    Options     Price      Weighted
Average
Remaining
Contractual
Term
     Aggregate
Intrinsic
Value
 

Outstanding, January 1, 2013

     8,381      $ 9.22         

Granted (1)

     517        7.78         

Exercised (2)

     (1,088     3.89         

Forfeited

     (226     7.11         

Expired

     (675     13.58         
  

 

 

         

Outstanding, December 31, 2013

     6,909        9.60         5.9 years       $ 15,545   
  

 

 

         

Exercisable

     4,264        10.90         4.7 years       $ 8,581   

Expected to vest

     2,514        7.49         7.9 years       $ 6,660   

 

(1)  The weighted average grant date fair value of CCOH options granted during the years ended December 31, 2013, 2012 and 2011 was $4.10, $4.43 and $8.30 per share, respectively.
(2)  Cash received from option exercises during the years ended December 31, 2013, 2012 and 2011 was $4.2 million, $6.4 million and $1.4 million, respectively. The total intrinsic value of the options exercised during the years ended December 31, 2013, 2012 and 2011 was $5.0 million, $7.9 million and $1.5 million, respectively.
Schedule of Unvested Stock Options Activity  

A summary of CCMH’s unvested options and changes during the year ended December 31, 2013 is presented below:

 

(In thousands, except per share data)    Options     Weighted
Average Grant
Date Fair Value
 

Unvested, January 1, 2013

     1,588      $ 11.38   

Granted

     —          —     

Vested (1)

     (439     14.40   

Forfeited

     (63     4.68   
  

 

 

   

Unvested, December 31, 2013

     1,086        10.74   
  

 

 

   

 

(1)  The total fair value of the options vested during the years ended December 31, 2013, 2012 and 2011 was $6.3 million, $3.9 million and $3.8 million, respectively.

 

 

A summary of CCOH’s unvested options at and changes during the year ended December 31, 2013 is presented below:

 

(In thousands, except per share data)    Options     Weighted
Average Grant
Date Fair Value
 

Unvested, January 1, 2013

     3,833      $ 5.19   

Granted

     517        4.10   

Vested (1)

     (1,479     4.80   

Forfeited

     (226     5.21   
  

 

 

   

Unvested, December 31, 2013

     2,645        5.21   
  

 

 

   

 

Schedule of Restricted Stock and Restricted Stock Units Activity  

The following table presents a summary of CCMH’s restricted stock outstanding and restricted stock activity as of and during the year ended December 31, 2013 (“Price” reflects the weighted average share price at the date of grant):

 

(In thousands, except per share data)    Awards     Price  

Outstanding, January 1, 2013

     2,607      $ 5.69   

Granted

     1,956        3.86   

Vested (restriction lapsed)

     (543     16.44   

Forfeited

     (101     2.95   
  

 

 

   

Outstanding, December 31, 2013

     3,919        3.35   
  

 

 

   

The following table presents a summary of CCOH’s restricted stock and restricted stock units outstanding at and activity during the year ended December 31, 2013 (“Price” reflects the weighted average share price at the date of grant):

 

(In thousands, except per share data)    Awards     Price  

Outstanding, January 1, 2013

     1,085      $ 6.26   

Granted

     1,105        7.51   

Vested (restriction lapsed)

     (15     6.61   

Forfeited

     (283     7.15   
  

 

 

   

Outstanding, December 31, 2013

     1,892        6.83