iHeartMedia, Inc. (IHRT) · 10+ Years of Financial Ratios

Profitability	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-20.6	-2.7	-1.78	-2.59	-3.87	-5.45	-5.42	-2.22	-3.14	-1.65	- -	-18.93	-1.76	-3.07	-14.42
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	48.9	53.52	59.36	60.04	59.26	59.89	60.37	61.55	60.11	59.96	- -	60.55	62.77	62.16	60.16
EBITDA Margin (%)	23.4	27.5	29.22	29.41	28.01	28.75	29.56	34.24	25.63	24.54	- -	13.71	19.17	20.81	15.98
Operating Margin (%)	9.61	15.01	16.83	17.73	16.3	17.5	18.76	24.11	15.88	16.15	- -	0.04	5.97	9.42	4.56
Incremental Operating Margin (%)	41.23	110.51	53.02	82.69	2,342.42	116.59	-84.79	1,065.69	519.16	26.68	16.15	0.04	34.66	44.01	122.4
Pretax Margin (%)	-81.82	-10.62	-6.39	-11.52	-11.3	-11.14	-10.42	-4.63	-14.87	-2.47	- -	-71.19	-4.22	-6.59	-31
Profit Margin (%)	-72.66	-8.17	-4.9	-6.8	-9.72	-12.56	-12.09	-4.72	-6.38	-3.19	- -	-64.94	-4.47	-6.76	-29.4
Net Income to Common Margin (%)	-72.66	-8.17	-4.9	-6.8	-9.72	-12.56	-12.09	-4.72	-6.38	-3.19	- -	-64.94	-4.47	-6.76	-29.4
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	- -	- -	-61.51	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	20,702	20,607	20,207	20,747	20,484	20,326	20,869	20,365	20,649	5,323	6,639	6,858	6,566	6,333	6,052
ST Debt	399	868	269	382	454	4	182	343	14,972	46	87	111	89	71	74
LT Debt	20,303	19,740	19,939	20,365	20,030	20,322	20,687	20,022	5,677	5,277	6,553	6,747	6,477	6,262	5,978
Total Debt/EBITDA	15.94	12.78	11.22	11.29	11.71	11.19	11.31	9.48	13.06	3.43	- -	16.97	9.63	7.78	10.1
Net Debt/EBITDA	14.49	11.58	10.54	10.63	11.31	10.94	10.89	9.09	12.89	3.17	- -	13.11	7.9	6.24	8.12
Total Debt/EBIT	38.81	23.41	19.49	18.73	20.13	18.38	17.82	13.46	21.07	5.21	- -	6,079.72	30.89	17.19	35.4
Net Debt/EBIT	35.28	21.23	18.3	17.62	19.43	17.97	17.16	12.9	20.8	4.81	- -	4,695.27	25.34	13.79	28.48
EBITDA to Interest Expense	0.87	1.05	1.23	1.19	1.06	1.04	1.02	1.16	0.85	2.15	- -	-1.18	-2.05	2.38	-1.54
EBITDA-CapEx/Interest Expense	0.72	0.88	0.98	0.93	0.86	0.86	0.86	0.99	0.69	1.74	- -	-0.93	-1.5	1.91	-1.27
EBIT to Interest Expense	0.36	0.57	0.71	0.72	0.62	0.63	0.65	0.82	0.53	1.41	- -	- -	-0.64	1.08	-0.44
Interest Expense	1,501	1,533	1,466	1,549	1,649	1,742	1,805	1,850	1,866	723	- -	-344	-332	342	-390
Common Equity/Total Assets	-50.29	-54.66	-59.59	-63.11	-72.12	-83.21	-89.99	-99	-107.07	-108.77	1.02	-19.6	-22.1	-26.72	-47.9
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	222.47	642.05	707.25	914.89	- -
Long-Term Debt/Capital (%)	168.05	171.01	183.4	189.1	203.54	229.17	240.29	257.79	75.05	-66.04	96.92	133.26	140.44	152.17	218.86
Long-Term Debt/Total Assets (%)	112.5	112.93	120.53	125	132.68	144.74	149.68	155.67	46.3	43.01	59.46	73.31	72.93	75.13	85.98
Total Debt/Equity (%)	-324.02	-286.03	-270.44	-259.49	-235.54	-210.3	-196.75	-187.08	-182.29	-46.05	225.42	652.64	717	925.22	-1,572.89
Total Debt/Capital (%)	171.35	178.52	185.87	192.65	208.15	229.21	242.4	262.2	272.99	-66.62	98.2	135.46	142.37	153.89	221.58
Total Debt/Total Assets (%)	114.71	117.89	122.16	127.34	135.68	144.77	150.99	158.33	168.42	43.39	60.24	74.52	73.93	75.97	87.04
Net Debt to Equity	-294.53	-259.36	-254	-244.17	-227.4	-205.57	-189.46	-179.32	-179.94	-42.53	182.15	504.02	588.2	741.85	-1,265.41
Net Debt/Capital (%)	184.53	194.2	196.81	204.54	216.53	236.23	256.44	282	279.32	-58.55	84.35	121.98	126.45	134.37	204.16
EBITDA	1,299	1,613	1,800	1,837	1,749	1,817	1,845	2,148	1,581	1,552	- -	404	682	814	599
EBITDA-CapEx	1,075	1,356	1,438	1,447	1,424	1,498	1,549	1,833	1,289	1,256	- -	319	499	653	497
Operating Income (Loss)	533	880	1,037	1,108	1,018	1,106	1,171	1,513	980	1,021	- -	1	213	368	171

Liquidity	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	1.22	0.91	0.86	0.69	0.4	0.33	0.47	0.5	0.02	0.33	0.61	1.06	0.41	0.4	0.41
Current Ratio	2.37	1.71	2.09	1.68	1.43	1.6	1.69	1.48	0.13	1.79	2.15	2.37	1.74	1.77	1.78
Quick Ratio	2.15	1.56	1.84	1.49	1.23	1.36	1.33	1.3	0.11	1.59	2.02	2.25	1.65	1.65	1.64
CFO/Avg Current Liab	0.11	0.32	0.21	0.3	0.12	0.16	-0.05	-0.01	-0.06	0.11	- -	0.32	0.43	0.5	0.25
Common Equity/Total Assets	-50.29	-54.66	-59.59	-63.11	-72.12	-83.21	-89.99	-99	-107.07	-108.77	1.02	-19.6	-22.1	-26.72	-47.9
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	222.47	642.05	707.25	914.89	- -
Long-Term Debt/Capital (%)	168.05	171.01	183.4	189.1	203.54	229.17	240.29	257.79	75.05	-66.04	96.92	133.26	140.44	152.17	218.86
Long-Term Debt/Total Assets (%)	112.5	112.93	120.53	125	132.68	144.74	149.68	155.67	46.3	43.01	59.46	73.31	72.93	75.13	85.98
Total Debt/Equity (%)	-324.02	-286.03	-270.44	-259.49	-235.54	-210.3	-196.75	-187.08	-182.29	-46.05	225.42	652.64	717	925.22	-1,572.89
Total Debt/Capital (%)	171.35	178.52	185.87	192.65	208.15	229.21	242.4	262.2	272.99	-66.62	98.2	135.46	142.37	153.89	221.58
Total Debt/Total Assets (%)	114.71	117.89	122.16	127.34	135.68	144.77	150.99	158.33	168.42	43.39	60.24	74.52	73.93	75.97	87.04
CFO/Total Liabilities	0.74	2.36	1.56	2.01	0.89	1.03	-0.32	-0.06	-2.14	4.06	- -	2.65	4.15	5.49	2.9
CFO/CapEx	0.81	2.26	1.03	1.25	0.66	0.77	-0.26	-0.04	-1.73	3.26	- -	2.53	1.8	2.61	2.08
Altman's Z-Score	-0.37	-0.37	-0.34	-0.44	-0.8	-1.05	-1.11	-1.19	-6.17	-1.81	0.41	0.53	0.95	0.96	0.18

Working Capital	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	4.06	4.35	4.4	4.42	4.34	4.43	4.4	4.47	4.3	4.1	- -	3.46	3.89	3.78	3.61
Days Sales Outstanding	89.84	83.85	82.88	82.64	84.14	82.31	82.96	81.64	84.96	88.96	- -	105.5	93.95	96.48	101.15
Inventory Turnover	- -	- -	236.71	112.8	101.77	100.08	101.76	102.87	110.54	123.9	- -	1,401.38	615.12	938.7	- -
Days Inventory Outstanding	- -	- -	1.54	3.24	3.59	3.65	3.59	3.55	3.3	2.95	- -	0.26	0.59	0.39	- -
Accounts Payable Turnover	19.74	21.01	19.29	18.45	19.03	19.2	17.33	16.06	15.87	15.49	-0.14	9.83	7.47	6.62	6.27
Accounts Payable Turnover Days	18.49	17.37	18.92	19.79	19.18	19.01	21.06	22.73	22.99	23.57	-2,552.93	37.12	48.88	55.16	58.21
Cash Conversion Cycle	71.35	66.48	65.5	66.09	68.55	66.95	65.49	62.46	65.27	68.34	- -	68.64	45.66	41.71	42.94
Inventory to Cash Days	89.84	83.85	81.34	79.4	80.55	78.66	79.37	78.09	81.66	86.01	- -	105.24	93.35	96.09	101.15
Inventories	- -	- -	21	23	27	24	25	22	22	18	1	1	3	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	21	23	27	24	25	22	22	18	1	1	3	- -	- -

Enterprise Value	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,038	926	2,988	861	370
- Cash & Cash Equivalents	1,884	1,921	1,229	1,225	708	457	773	845	267	406	400	721	352	336	346
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	456	491	522	304	246	224	178	135	43	31	9	8	8	10	9
+ Total Debt	20,702	20,607	20,207	20,747	20,484	20,326	20,869	20,365	20,649	5,323	6,639	6,858	6,566	6,333	6,052
Enterprise Value	19,274	19,177	19,500	19,826	20,022	20,093	20,274	19,655	20,425	4,948	7,286	7,072	9,211	6,867	6,085
Total Capital	12,082	11,543	10,872	10,769	9,841	8,868	8,609	7,767	7,564	-7,991	6,761	5,063	4,612	4,115	2,731
Total Debt/Capital (%)	171.35	178.52	185.87	192.65	208.15	229.21	242.4	262.2	272.99	-66.62	98.2	135.46	142.37	153.89	221.58
Total Debt / EV	1.07	1.07	1.04	1.05	1.02	1.01	1.03	1.04	1.01	1.08	0.91	0.97	0.71	0.92	0.99
EV/Sales	3.47	3.27	3.16	3.17	3.21	3.18	3.25	3.13	3.31	0.78	- -	2.4	2.59	1.76	1.62
EV/EBITDA	14.84	11.89	10.83	10.79	11.45	11.06	10.99	9.15	12.92	3.19	- -	17.5	13.51	8.44	10.15
EV/EBIT	36.13	21.79	18.8	17.9	19.67	18.17	17.31	12.99	20.84	4.84	- -	6,269.13	43.33	18.64	35.59
EV/Cash Flow to Firm	12.69	11.14	14.22	14.43	12.69	9.43	10.29	12.98	47.31	2.6	- -	- -	- -	8.94	- -
EV/Free Cash Flow to Firm	11.06	9.69	11.25	11.24	10.53	8.2	8.95	10.74	28.22	2.25	- -	- -	56.52	7.39	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,461	1,888	3,083	890	382
Diluted Enterprise Value	19,274	19,177	19,500	19,826	20,022	20,093	20,274	19,655	20,425	4,948	7,709	8,033	9,305	6,896	6,097
EV per Share	232.76	230.62	234.67	231.43	228.49	226.78	226.29	216.86	223.13	54.37	112.65	98.75	64.76	47.94	42.06
TTM Sales	5,552	5,866	6,161	6,247	6,243	6,319	6,242	6,274	6,171	6,326	- -	2,948	3,558	3,912	3,751
TTM EBITDA	1,299	1,613	1,800	1,837	1,749	1,817	1,845	2,148	1,581	1,552	- -	404	682	814	599
TTM Operating Income	533	880	1,037	1,108	1,018	1,106	1,171	1,513	980	1,021	- -	1	213	368	171
TTM Cash Flow to Firm	1,519	1,722	1,371	1,374	1,577	2,131	1,970	1,515	432	1,904	- -	-98	-20	768	-156
TTM Free Cash Flow to Firm	1,743	1,979	1,734	1,764	1,902	2,450	2,266	1,829	724	2,200	- -	-13	163	929	-53

Multiples	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.79	-19.21	-6.95	-0.54
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1.37	-25.12	-11.76	-1.15
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.37	-11.85	-3.41	-0.25
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.22	-0.51	-1.52	-0.39	-0.11
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.79	-0.41	-1.51	-0.8	-0.17
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.34	-0.71	-1.97	-1.35	-0.37
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7.39	-0.19	-0.93	-0.39	-0.08
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.21	-0.19	-0.62	-0.19	-0.08
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.2	-0.15	-0.61	-0.39	-0.13
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.24	-0.27	-0.8	-0.67	-0.28
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-0.17	-0.07	-0.38	-0.19	-0.06
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.64	0.87	0.23	0.1
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.51	0.86	0.47	0.16
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.89	1.12	0.8	0.34
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.24	0.53	0.23	0.07
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.74	9.33	2.12	1.79
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	6.99	9.25	4.38	2.81
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12.16	12.1	7.41	5.96
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.24	5.71	2.15	1.27
Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	6.27	6	1.53	1.21
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.01	5.95	3.17	1.89
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.72	7.78	5.36	4.02
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.32	3.67	1.55	0.86
EV/Sales	3.47	3.27	3.16	3.17	3.21	3.18	3.25	3.13	3.31	0.78	- -	2.4	2.59	1.76	1.62
EV/Sales Average	3.47	3.27	3.16	3.17	3.21	3.18	3.25	3.13	3.31	0.78	- -	2.34	2.58	1.99	1.68
EV/Sales High	3.47	3.27	3.16	3.17	3.21	3.18	3.25	3.13	3.31	0.78	- -	2.52	2.84	2.31	1.85
EV/Sales Low	3.47	3.27	3.16	3.17	3.21	3.18	3.25	3.13	3.31	0.78	- -	2.2	2.26	1.76	1.59
EV/EBITDA	14.84	11.89	10.83	10.79	11.45	11.06	10.99	9.15	12.92	3.19	- -	17.5	13.51	8.44	10.15
EV/EBITDA Average	14.84	11.89	10.83	10.79	11.45	11.06	10.99	9.15	12.92	3.19	- -	17.04	13.47	9.57	10.5
EV/EBITDA High	14.84	11.89	10.83	10.79	11.45	11.06	10.99	9.15	12.92	3.19	- -	18.4	14.81	11.08	11.59
EV/EBITDA Low	14.84	11.89	10.83	10.79	11.45	11.06	10.99	9.15	12.92	3.19	- -	16.06	11.81	8.45	9.97
EV/EBIT	36.13	21.79	18.8	17.9	19.67	18.17	17.31	12.99	20.84	4.84	- -	6,269.13	43.33	18.64	35.59
EV/EBIT Average	36.13	21.79	18.8	17.9	19.67	18.17	17.31	12.99	20.84	4.84	- -	6,105.02	43.22	21.14	36.81
EV/EBIT High	36.13	21.79	18.8	17.9	19.67	18.17	17.31	12.99	20.84	4.84	- -	6,590.38	47.5	24.49	40.62
EV/EBIT Low	36.13	21.79	18.8	17.9	19.67	18.17	17.31	12.99	20.84	4.84	- -	5,752.34	37.87	18.68	34.96
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	16.05	12.93	21.01	6.01	2.56
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18	17.99	27.25	21.03	8.51
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	12.87	4.79	12.86	6.1	1.82
Enterprise Value	19,274	19,177	19,500	19,826	20,022	20,093	20,274	19,655	20,425	4,948	7,286	7,072	9,211	6,867	6,085
Enterprise Value Average	19,274	19,177	19,500	19,826	20,022	20,093	20,274	19,655	20,425	4,948	7,238	6,886	9,187	7,786	6,294
Enterprise Value High	19,274	19,177	19,500	19,826	20,022	20,093	20,274	19,655	20,425	4,948	7,412	7,434	10,098	9,019	6,946
Enterprise Value Low	19,274	19,177	19,500	19,826	20,022	20,093	20,274	19,655	20,425	4,948	7,081	6,489	8,052	6,880	5,978

Per Share Data Items	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	83	83	83	86	88	89	90	91	92	91	65	72	142	143	145
Diluted Weighted Avg Shares	81	82	82	83	83	84	84	85	85	85	91	146	147	148	149
Basic Weighted Avg Shares	81	82	82	83	83	84	84	85	85	85	- -	146	147	148	149
Revenue per Share	68.29	71.84	74.69	75.5	74.89	75.27	74.06	74.18	72.63	74.06	- -	20.2	24.25	26.42	25.13
EBITDA per Share	15.98	19.76	21.83	22.2	20.98	21.64	21.89	25.4	18.61	18.17	- -	2.77	4.65	5.5	4.02
Operating Income per Share	6.56	10.78	12.57	13.39	12.21	13.17	13.9	17.89	11.54	11.96	- -	0.01	1.45	2.49	1.15
Basic EPS, GAAP	-49.62	-5.87	-3.66	-5.13	-7.28	-9.46	-8.95	-3.5	-4.64	-2.36	- -	-13.12	-1.09	-1.79	-7.39
Basic EPS from Cont Ops	-49.81	-5.67	-3.25	-4.97	-7	-9.08	-8.75	-2.84	-5.41	-2.37	- -	-13.12	-1.08	-1.77	-7.37
Diluted EPS, GAAP	-49.62	-5.87	-3.66	-5.13	-7.28	-9.46	-8.95	-3.5	-4.64	-2.36	- -	-13.12	-1.09	-1.79	-7.39
Diluted EPS from Cont Ops	-49.81	-5.67	-3.25	-4.97	-7	-9.08	-8.75	-2.84	-5.41	-2.37	- -	-13.12	-1.08	-1.77	-7.37
Dividend per Share	- -	- -	- -	2.96	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	2.23	7.13	4.53	5.91	2.55	2.92	-0.92	-0.17	-5.93	11.32	- -	1.48	2.25	2.84	1.43
Free Cash Flow per Basic Share	-0.52	3.98	0.14	1.19	-1.34	-0.87	-4.43	-3.89	-9.36	7.85	- -	0.9	1	1.75	0.74
Cash & Equivalents per Share	22.75	23.1	14.79	14.3	8.08	5.16	8.62	9.32	2.92	4.47	6.19	10.06	2.48	2.35	2.39
Book Value per Share	-109.61	-114.91	-118.62	-120.02	-124.26	-131.85	-138.82	-140.49	-143.41	-146.64	1.74	-25.18	-13.8	-15.55	-23.02
Tangible Book Value per Share	-201.38	-206.25	-206.91	-203.66	-203.7	-209.22	-212.91	-210.37	-211.47	-214.5	-74.74	-66.89	-34.05	-31.59	-30.37

iHeartMedia, Inc.

IHRT US

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