$CCO
Clear Channel Outdoor Holdings, Inc.
CIK:0001334978|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Cash flows from operating activities: | ||
| Consolidated net income (loss) | $ (52,958) | $ 73,862 |
| Reconciling items: | ||
| Non-cash operating lease expense, net of interest | 94,143 | 113,219 |
| Depreciation and amortization | 82,769 | 86,339 |
| Gain on disposition of businesses and/or operating assets, net | (250) | (144,276) |
| Share-based compensation | 13,832 | 12,762 |
| Amortization of deferred financing costs and note discounts | 4,968 | 5,329 |
| Credit loss expense | 3,352 | 1,606 |
| Deferred income taxes | (8,927) | 9,537 |
| Gain on extinguishment of debt, net | 0 | (23,396) |
| Other reconciling items, net | (784) | 3,447 |
| Changes in operating assets and liabilities, net of effects of dispositions: | ||
| Decrease in accounts receivable | 3,897 | 32,135 |
| Decrease (increase) in prepaid expenses and other operating assets | 4,730 | (7,907) |
| Decrease in accounts payable and accrued expenses | (9,909) | (51,899) |
| Decrease in operating lease liabilities (cash payments, net of interest) | (105,949) | (124,080) |
| Decrease in accrued interest | (10,185) | (8,790) |
| Increase in deferred revenue | 27,373 | 27,151 |
| Increase (decrease) in other operating liabilities | 1,738 | (2,713) |
| Net cash provided by operating activities | 47,840 | 2,326 |
| Cash flows from investing activities: | ||
| Capital expenditures | (35,323) | (42,080) |
| Proceeds from sales of businesses and/or assets, net of direct costs to sell and cash sold | 1,288 | 599,292 |
| Other investing activities, net | (693) | 74 |
| Net cash provided by (used for) investing activities | (34,728) | 557,286 |
| Cash flows from financing activities: | ||
| Payments on long-term debt | (145) | (574,673) |
| Debt issuance costs | (25) | (1,421) |
| Taxes paid related to net share settlement of equity awards | (14,686) | (4,412) |
| Payments to noncontrolling interests, net | (6,133) | (4,775) |
| Net cash used for financing activities | (20,989) | (585,281) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (958) | 4,414 |
| Net decrease in cash, cash equivalents and restricted cash | (8,835) | (21,255) |
| Cash, cash equivalents and restricted cash at beginning of period | 216,660 | 172,072 |
| Cash, cash equivalents and restricted cash at end of period | 207,825 | 150,817 |
| Supplemental disclosures: | ||
| Cash paid for interest | 205,848 | 210,220 |
| Cash paid for income taxes, net of refunds | $ 997 | $ 6,737 |
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| CURRENT ASSETS | ||
| Cash and cash equivalents | $ 192,138 | $ 190,022 |
| Accounts receivable, net | 367,992 | 371,377 |
| Prepaid expenses | 18,795 | 21,791 |
| Other current assets | 6,322 | 7,295 |
| Current assets of discontinued operations | 187,273 | 202,709 |
| Total Current Assets | 772,520 | 793,194 |
| PROPERTY, PLANT AND EQUIPMENT | ||
| Structures, net | 282,858 | 298,846 |
| Other property, plant and equipment, net | 145,714 | 142,977 |
| INTANGIBLE ASSETS AND GOODWILL | ||
| Goodwill | 507,819 | 507,819 |
| OTHER ASSETS | ||
| Operating lease right-of-use assets | 1,318,530 | 1,313,912 |
| Other assets | 19,897 | 17,886 |
| Total Assets | 3,763,081 | 3,828,875 |
| CURRENT LIABILITIES | ||
| Accounts payable | 37,223 | 32,109 |
| Accrued expenses | 161,978 | 169,693 |
| Current operating lease liabilities | 134,384 | 142,139 |
| Accrued interest | 88,910 | 99,095 |
| Deferred revenue | 102,730 | 75,437 |
| Current portion of long-term debt | 314 | 312 |
| Current liabilities of discontinued operations | 90,348 | 99,309 |
| Total Current Liabilities | 615,887 | 618,094 |
| NON-CURRENT LIABILITIES | ||
| Long-term debt | 5,107,315 | 5,102,681 |
| Non-current operating lease liabilities | 1,227,530 | 1,225,567 |
| Deferred tax liabilities, net | 212,688 | 221,616 |
| Other liabilities | 56,780 | 55,285 |
| Total Liabilities | 7,220,200 | 7,223,243 |
| Commitments and Contingencies (Note $6) | ||
| STOCKHOLDERS’ DEFICIT | ||
| Noncontrolling interests | 6,401 | 11,581 |
| Common stock, par value $0.01 per share: 2,350,000,000 shares authorized (527,979,483 shares issued as of June 30, 2026; 513,531,599 shares issued as of December 31, 2025) | 5,280 | 5,135 |
| Additional paid-in capital | 3,619,142 | 3,613,197 |
| Accumulated deficit | (6,994,107) | (6,940,190) |
| Accumulated other comprehensive loss | (56,191) | (53,391) |
| Treasury stock (18,967,026 shares held as of June 30, 2026; 16,060,676 shares held as of December 31, 2025) | (37,644) | (30,700) |
| Total Stockholders' Deficit | (3,457,119) | (3,394,368) |
| Total Liabilities and Stockholders' Deficit | 3,763,081 | 3,828,875 |
| Permits, net | ||
| INTANGIBLE ASSETS AND GOODWILL | ||
| Permits and other intangible assets, net | 515,940 | 548,288 |
| Other intangible assets, net | ||
| INTANGIBLE ASSETS AND GOODWILL | ||
| Permits and other intangible assets, net | $ 199,803 | $ 205,953 |