0001334978-22-000030.txt : 20221108 0001334978-22-000030.hdr.sgml : 20221108 20221107174732 ACCESSION NUMBER: 0001334978-22-000030 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20221108 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20221108 DATE AS OF CHANGE: 20221107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Clear Channel Outdoor Holdings, Inc. CENTRAL INDEX KEY: 0001334978 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING [7310] IRS NUMBER: 880318078 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32663 FILM NUMBER: 221366650 BUSINESS ADDRESS: STREET 1: 4830 NORTH LOOP 1604W, SUITE 111 CITY: SAN ANTONIO STATE: TX ZIP: 78249 BUSINESS PHONE: 210-822-2828 MAIL ADDRESS: STREET 1: 4830 NORTH LOOP 1604W, SUITE 111 CITY: SAN ANTONIO STATE: TX ZIP: 78249 8-K 1 cco-20221108.htm 8-K cco-20221108
0001334978false00013349782022-11-082022-11-08


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 8, 2022
CLEAR CHANNEL OUTDOOR HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware
001-32663
88-0318078
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
4830 North Loop 1604W, Suite 111
San Antonio, Texas 78249
(Address of principal executive offices)
Registrant's telephone number, including area code: (210) 547-8800
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange
on which registered
Common Stock, $0.01 par value per shareCCONew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02    Results of Operations and Financial Condition    
On November 8, 2022, Clear Channel Outdoor Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2022. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
To the extent the information in Item 7.01 hereof or Exhibit 99.2 hereto relates to a completed fiscal period, such information is incorporated by reference into this Item 2.02.
Item 7.01    Regulation FD Disclosure
The Company is furnishing Exhibit 99.2 to provide certain financial information for its subsidiary, Clear Channel International B.V., for the quarter ended September 30, 2022.
In accordance with General Instruction B.2 of Form 8-K, the information under this Item 7.01, including Exhibit 99.2, shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.2, be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01    Financial Statements and Exhibits
(d) Exhibits

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CLEAR CHANNEL OUTDOOR HOLDINGS, INC.
Date:November 8, 2022By:/s/ Brian D. Coleman
Brian D. Coleman
Chief Financial Officer

 EX-99.1 2 exhibit991-ccohearningsrel.htm EX-99.1 Document

Exhibit 99.1
ccohlogoa12a.jpg
CLEAR CHANNEL OUTDOOR HOLDINGS, INC.
REPORTS RESULTS FOR THE THIRD QUARTER OF 2022
----------------
San Antonio, TX, November 8, 2022 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the “Company”) today reported financial results for the quarter ended September 30, 2022.
“Our strong third quarter revenue results, excluding the impact of movements in foreign exchange rates, reflect the resiliency of our platform and the continued execution of our strategic plan, which we detailed during our Investor Day in September,” said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “This performance was at the high end of our consolidated revenue guidance and supported by broad-based demand from advertisers, with notable strength across our digital footprint in the Americas and Europe.
“Our team is focused on executing on our digital transformation and our efforts to innovate and modernize how we do business and integrate our solutions with our partners and customers. We’re progressing in giving them the kind of experience they expect from digital media, which we believe contributes to our growth now and in the future.
“Looking ahead, our business remains healthy as advertisers continue to tap the out-of-home market, the last mass visual medium, to reach consumers on the move. We’re keeping a close eye on business trends and have the levers to moderate our costs should the need arise, and we remain committed to maintaining ample liquidity on our balance sheet.
“Finally, we are continuing to conduct a review of strategic alternatives for our European business with the goal of optimizing our portfolio in the best interests of our shareholders with our resulting greater focus on our core Americas business.”
Financial Highlights:
Financial highlights for the third quarter of 2022 as compared to the same period of 2021, including financial highlights excluding movements in foreign exchange rates (“FX”)1:
(In millions)Three Months Ended September 30, 2022% Change
Revenue:
Consolidated Revenue$602.9 1.1 %
Excluding movements in FX1
642.9 7.8 %
Americas Revenue346.5 8.6 %
Europe Revenue239.2 (8.9)%
Excluding movements in FX1
278.7 6.1 %
Net Loss:
Consolidated Net Loss(38.8)(4.9)%
Adjusted EBITDA1:
Adjusted EBITDA1
129.5 (5.0)%
Excluding movements in FX1
131.2 (3.8)%
Americas Segment Adjusted EBITDA1
144.7 4.1 %
Europe Segment Adjusted EBITDA1
15.1 (51.7)%
Excluding movements in FX1
18.0 (42.5)%
1See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for explanations of these financial measures.
1

Guidance:
Our expectations for the fourth quarter of 2022 are as follows:
Fourth Quarter of 2022
(in millions)LowHigh
Consolidated Revenue1
$740 $765 
Americas370 380 
Europe1
345 360 
1Excludes movements in FX
We are in line with the full year 2022 guidance previously provided in our press release issued on September 8, 2022, which was furnished in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (“SEC”) on that same date, with the exception of Consolidated net loss, which we have updated in the table below. Our revised full year 2022 guidance is as follows:
Full Year of 2022
(in millions)LowHigh
Consolidated Revenue1
$2,600 $2,635 
Americas1,355 1,375 
Europe1
1,170 1,190 
Consolidated Net Loss1
(165)(138)
Adjusted EBITDA1,2
560 590 
Segment Adjusted EBITDA2
Americas555 570 
Europe1
130 145 
Corporate Expenses1
159 169 
Adjusted Corporate Expenses1,2
125 135 
Capital Expenditures185 205 
Americas105 115 
Europe65 75 
Adjusted Funds from Operations (“AFFO”)1,2
160 180 
1Excludes movements in FX
2See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for explanations of these financial measures.
Expected results and estimates may be impacted by factors outside of the Company’s control, and actual results may be materially different from this guidance. See “Cautionary Statement Concerning Forward-Looking Statements” herein.
2

Results:
Revenue:
(In thousands)Three Months Ended
September 30,		%
Change		Nine Months Ended
September 30,		%
Change
 2022202120222021
Revenue:
Americas$346,519 $319,020 8.6 %$987,790 $802,524 23.1 %
Europe239,197 262,568 (8.9)%736,616 659,216 11.7 %
Other17,191 14,828 15.9 %47,569 36,666 29.7 %
Consolidated Revenue$602,907 $596,416 1.1 %$1,771,975 $1,498,406 18.3 %
Revenue excluding movements in FX1:
Americas$346,519 $319,020 8.6 %$987,790 $802,524 23.1 %
Europe278,678 262,568 6.1 %824,681 659,216 25.1 %
Other17,666 14,828 19.1 %48,324 36,666 31.8 %
Consolidated Revenue excluding movements in FX$642,863 $596,416 7.8 %$1,860,795 $1,498,406 24.2 %
1See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for an explanation of this financial measure.
Revenue for the third quarter of 2022, as compared to the same period of 2021:
Americas: Revenue up 8.6%:
•Revenue up across all major product categories, most notably airport displays
◦Airport display revenue up 45.0% to $62.3 million from $43.0 million
•Digital revenue up 16.6% to $133.7 million from $114.6 million
◦Digital revenue from billboards, street furniture and spectaculars up 6.8% to $97.6 million from $91.4 million
◦Digital revenue from transit, including airports, up 55.2% to $36.1 million from $23.3 million
•National sales comprised 39.7% and 37.1% of total revenue for the three months ended September 30, 2022 and 2021, respectively
Europe: Revenue down 8.9%; excluding movements in FX, up 6.1%:
•Revenue growth driven by transit and street furniture displays
•Digital revenue up 4.8% to $97.3 million from $92.9 million; digital revenue, excluding movements in FX, up 22.4% to $113.7 million
•Revenue up in many countries, most notably Sweden, driven by continued recovery and growth following the lifting of COVID-19 restrictions; partially offset by decrease in France, which rebounded strongly from COVID-19 in prior year
Other: Revenue up 15.9%; excluding movements in FX, up 19.1%:
•Continued recovery from COVID-19 in Latin America
3

Direct Operating & SG&A Expenses:
(In thousands)Three Months Ended
September 30,		%
Change		Nine Months Ended
September 30,		%
Change
 2022202120222021
Direct operating & SG&A expenses1:
Americas$202,125 $180,342 12.1 %$584,940 $473,924 23.4 %
Europe225,279 248,120 (9.2)%692,955 728,023 (4.8)%
Other14,592 14,403 1.3 %43,879 40,867 7.4 %
Consolidated Direct operating & SG&A expenses2
$441,996 $442,865 (0.2)%$1,321,774 $1,242,814 6.4 %
Direct operating & SG&A expenses excluding movements in FX3:
Americas$202,125 $180,342 12.1 %584,940 $473,924 23.4 %
Europe262,046 248,120 5.6 %773,781 728,023 6.3 %
Other15,125 14,403 5.0 %44,750 40,867 9.5 %
Consolidated Direct operating & SG&A expenses excluding movements in FX$479,296 $442,865 8.2 %$1,403,471 $1,242,814 12.9 %
1“Direct operating & SG&A expenses” as included throughout this earnings release refers to the sum of direct operating expenses (excluding depreciation and amortization) and selling, general and administrative expenses (excluding depreciation and amortization).
2Consolidated direct operating & SG&A expenses during the three months ended September 30, 2022 and 2021 include restructuring and other costs of $1.5 million and $17.2 million, respectively, including severance and related costs associated with our restructuring plan to reduce headcount in our Europe segment of $0.8 million and $16.3 million, respectively. Consolidated direct operating & SG&A expenses during the nine months ended September 30, 2022 and 2021 include restructuring and other costs of $3.2 million and $36.0 million, respectively, including severance and related costs associated with our restructuring plan to reduce headcount in our Europe segment of $1.2 million and $33.5 million, respectively.
3See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for an explanation of this financial measure.
Direct operating and SG&A expenses for the third quarter of 2022, as compared to the same period of 2021:
Americas: Direct operating and SG&A expenses up 12.1%:
•Site lease expense up 10.2% to $113.6 million from $103.1 million driven by higher revenue, most notably in airports
◦Rent abatement reductions of site lease expense of $15.4 million compared to $11.9 million
•Higher production and installation expenses driven by increased sales activity
•Higher compensation costs due in part to increased headcount
•Higher credit loss expense
Europe: Direct operating and SG&A expenses down 9.2%; excluding movements in FX, up 5.6%:
•Site lease expense up 5.2% to $105.9 million from $100.6 million; site lease expense, excluding movements in FX, up 22.1% to $122.9 million driven by lower negotiated rent abatements, lower governmental rent subsidies and higher revenue
◦Rent abatement reductions of site lease expense of $0.7 million compared to $9.6 million
•Higher compensation costs driven by improvements in operating performance
•Partially offset by lower costs for our restructuring plan to reduce headcount
Other: Direct operating and SG&A expenses up 1.3%; excluding movements in FX, up 5.0%:
•Higher site lease expense primarily driven by higher revenue
4

Corporate Expenses:
(In thousands)Three Months Ended
September 30,		%
Change		Nine Months Ended
September 30,		%
Change
 2022202120222021
Corporate expenses1
$37,433 $41,806 (10.5)%$120,159 $113,576 5.8 %
Corporate expenses excluding movements in FX2
38,285 41,806 (8.4)%121,840 113,576 7.3 %
1Corporate expenses include restructuring and other costs (reversals) of $(0.8) million and $1.5 million during the three months ended September 30, 2022 and 2021, respectively, and $9.7 million and $8.6 million during the nine months ended September 30, 2022 and 2021, respectively. Included within restructuring and other costs were severance and related costs (reversals) associated with our restructuring plan to reduce headcount in our Europe segment of $(0.5) million and $1.1 million during the nine months ended September 30, 2022 and 2021, respectively.
2See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for an explanation of this financial measure.
Corporate expenses for the third quarter of 2022, as compared to the same period of 2021:
Corporate expenses down 10.5%; excluding movements in FX, down 8.4%:
•Lower restructuring and other costs
•Lower share-based compensation
Net Loss:
(In thousands)Three Months Ended
September 30,		%
Change		Nine Months Ended
September 30,		%
Change
 2022202120222021
Consolidated net loss$(38,780)$(40,788)(4.9)%$(193,826)$(498,645)(61.1)%
Adjusted EBITDA1:
(In thousands)Three Months Ended
September 30,		%
Change		Nine Months Ended
September 30,		%
Change
 2022202120222021
Segment Adjusted EBITDA1:
Americas$144,739 $139,086 4.1 %$403,829 $330,527 22.2 %
Europe15,095 31,271 (51.7)%45,863 (34,614)N/A
Other2,598 425 N/A3,689 (4,321)N/A
Total Segment Adjusted EBITDA162,432 170,782 (4.9)%453,381 291,592 55.5 %
Adjusted Corporate expenses1
(32,949)(34,434)(4.3)%(93,537)(90,633)3.2 %
Adjusted EBITDA1
$129,483 $136,348 (5.0)%$359,844 $200,959 79.1 %
Segment Adjusted EBITDA excluding movements in FX1:
Americas$144,739 $139,086 4.1 %$403,829 $330,527 22.2 %
Europe17,985 31,271 (42.5)%53,397 (34,614)N/A
Other2,540 425 N/A3,573 (4,321)N/A
Total Segment Adjusted EBITDA165,264 170,782 (3.2)%460,799 291,592 58.0 %
Adjusted Corporate expenses excluding movements in FX1
(34,090)(34,434)(1.0)%(95,465)(90,633)5.3 %
Adjusted EBITDA excluding movements in FX1
$131,174 $136,348 (3.8)%$365,334 $200,959 81.8 %
1See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for explanations of these financial measures.
5

AFFO1:
(In thousands)Three Months Ended
September 30,		Nine Months Ended
September 30,
 20222022
AFFO1
$23,516 $88,427 
AFFO excluding movements in FX1
24,322 91,460 
1See “Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information” section herein for explanations of these financial measures. The Company is not a Real Estate Investment Trust (“REIT”). However, the Company competes directly with REITs that present the non-GAAP measure of AFFO and, accordingly, believes that presenting such measure will be helpful to investors in evaluating the Company’s operations with the same terms used by the Company’s direct competitors.
Capital Expenditures:
(In thousands)Three Months Ended
September 30,		%
Change		Nine Months Ended
September 30,		%
Change
 2022202120222021
Capital expenditures:
Americas$21,584 $15,857 36.1 %$69,620 $39,988 74.1 %
Europe16,856 12,992 29.7 %43,590 30,298 43.9 %
Other1,106 862 28.3 %2,212 3,082 (28.2)%
Corporate3,764 2,961 27.1 %8,996 9,070 (0.8)%
Consolidated capital expenditures
$43,310 $32,672 32.6 %$124,418 $82,438 50.9 %
Digital displays:
•Americas markets deployed 34 new digital billboards in the third quarter, adding to a total of more than 1,600 digital billboards as of September 30, 2022. Combined with our smaller format digital displays in airports and on shelters, we had a total of more than 4,700 digital displays across the United States as of September 30, 2022.
•Europe markets added 366 new digital displays in the third quarter, adding to a total of 19,200 digital displays as of September 30, 2022.
•Our Latin American markets had more than 800 digital displays as of September 30, 2022.
Clear Channel International B.V.
Our Europe segment consists of the businesses operated by Clear Channel International B.V. (“CCIBV”) and its consolidated subsidiaries. Accordingly, the revenue for our Europe segment is the same as the revenue for CCIBV. Europe Segment Adjusted EBITDA, the segment profitability metric reported in our financial statements, does not include an allocation of CCIBV's corporate expenses that are deducted from CCIBV's operating income (loss) and Adjusted EBITDA.
As discussed above, Europe and CCIBV revenue decreased $23.4 million during the third quarter of 2022 compared to the same period of 2021 to $239.2 million. After adjusting for a $39.5 million impact from movements in FX, Europe and CCIBV revenue increased $16.1 million.
CCIBV operating loss was $14.2 million in the third quarter of 2022 compared to $25.6 million in the same period in 2021.
For a discussion of revenue and direct operating and SG&A expenses driving CCIBV’s Adjusted EBITDA, see the discussion of our Europe Segment Adjusted EBITDA in this earnings release.
6

Liquidity and Financial Position:
Cash and Cash Equivalents:
As of September 30, 2022, we had $327.4 million of cash on our balance sheet, including $114.5 million of cash held outside the U.S.
(In thousands)Nine months ended
September 30,
2022
Net cash provided by operating activities$113,988 
Net cash used for investing activities(155,492)
Net cash used for financing activities(27,147)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(13,189)
Net decrease in cash, cash equivalents and restricted cash$(81,840)
Cash paid for interest$217,816 
Cash paid for income taxes, net of refunds$3,824 
Debt:
During the nine months ended September 30, 2022, we made principal payments on our Term Loan Facility totaling $15.0 million and expect to make an additional principal payment of $5.0 million during the remainder of the year. Our next material debt maturity is in 2025 when the $375.0 million aggregate principal amount of CCIBV 6.625% Senior Secured Notes is due. However, at our option, we may redeem or repay a portion of our outstanding debt prior to maturity in accordance with the terms of our debt agreements.
We anticipate having approximately $123.5 million of cash interest payment obligations during the remainder of 2022 and $404.0 million of cash interest payment obligations in 2023, assuming current interest rates remain and that we do not refinance or incur additional debt.
Please refer to Table 3 in this earnings release for additional detail regarding our outstanding debt balance.
7

TABLE 1 - Financial Highlights of Clear Channel Outdoor Holdings, Inc. and its Subsidiaries:
(In thousands)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Revenue$602,907 $596,416 $1,771,975 $1,498,406 
Operating expenses:
Direct operating expenses(1)
323,543 324,707 976,070 914,221 
Selling, general and administrative expenses(1)
118,453 118,158 345,704 328,593 
Corporate expenses(1)
37,433 41,806 120,159 113,576 
Depreciation and amortization57,846 65,600 178,830 190,019 
Impairment charges871 — 22,676 118,950 
Other operating expense (income), net3,764 (2,422)220 (4,045)
Operating income (loss)60,997 48,567 128,316 (162,908)
Interest expense, net(92,878)(84,276)(262,270)(267,211)
Loss on extinguishment of debt— — — (102,757)
Other expense, net(27,857)(11,973)(60,091)(1,788)
Loss before income taxes(59,738)(47,682)(194,045)(534,664)
Income tax benefit20,958 6,894 219 36,019 
Consolidated net loss(38,780)(40,788)(193,826)(498,645)
Less amount attributable to noncontrolling interest
977 43 1,463 (881)
Net loss attributable to the Company$(39,757)$(40,831)$(195,289)$(497,764)
(1)Excludes depreciation and amortization
Weighted Average Shares Outstanding
(In thousands)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Weighted average common shares outstanding – Basic and Diluted475,612 469,234 473,787 467,994 
TABLE 2 - Selected Balance Sheet Information:
(In thousands)September 30,
2022		December 31, 2021
Cash and cash equivalents$327,429 $410,767 
Total current assets971,149 1,134,521 
Net property, plant and equipment755,563 827,246 
Total assets4,986,967 5,299,355 
Current liabilities (excluding current portion of long-term debt)1,006,290 1,091,779 
Long-term debt (including current portion of long-term debt)
5,592,182 5,604,953 
Stockholders’ deficit(3,372,810)(3,193,970)
8

TABLE 3 - Total Debt:
(In thousands)September 30,
2022		December 31, 2021
Debt:
Term Loan Facility$1,940,000 $1,955,000 
Revolving Credit Facility1
— — 
Receivables-Based Credit Facility1
— — 
Clear Channel Outdoor Holdings 5.125% Senior Secured Notes Due 20271,250,000 1,250,000 
Clear Channel Outdoor Holdings 7.75% Senior Notes Due 20281,000,000 1,000,000 
Clear Channel Outdoor Holdings 7.5% Senior Notes Due 20291,050,000 1,050,000 
Clear Channel International B.V. 6.625% Senior Secured Notes Due 2025375,000 375,000 
Other debt2
32,774 39,006 
Original issue discount(5,947)(6,976)
Long-term debt fees(49,645)(57,077)
Total debt3
5,592,182 5,604,953 
Less: Cash and cash equivalents(327,429)(410,767)
Net debt$5,264,753 $5,194,186 
1As of September 30, 2022, we had $43.2 million of letters of credit outstanding and $131.8 million of excess availability under the Revolving Credit Facility and $41.5 million of letters of credit outstanding and $83.5 million of excess availability under the Receivables-Based Credit Facility.
2Other debt includes finance leases and a state-guaranteed loan of €30.0 million, or $29.4 million at current exchange rates.
3The current portion of total debt was $21.0 million and $21.2 million as of September 30, 2022 and December 31, 2021, respectively.
Supplemental Disclosure Regarding Segment Adjusted EBITDA and Non-GAAP Financial Information:
Segment Adjusted EBITDA
The Company has two reportable segments, which it believes best reflect how the Company is currently managed: Americas and Europe. The Company’s remaining operating segment, Latin America, does not meet the quantitative threshold to qualify as a reportable segment and is disclosed as “Other.”
Segment Adjusted EBITDA is the profitability metric reported to the Company's chief operating decision maker for purposes of making decisions about allocation of resources to, and assessing performance of, each reportable segment. Segment Adjusted EBITDA is a GAAP financial measure that is calculated as Revenue less Direct operating expenses and SG&A expenses, excluding restructuring and other costs. Restructuring and other costs include costs associated with cost savings initiatives such as severance, consulting and termination costs and other special costs.
Non-GAAP Financial Information
This earnings release includes information that does not conform to U.S. generally accepted accounting principles (“GAAP”), including Adjusted EBITDA, Adjusted Corporate expenses, Funds From Operations (“FFO”) and Adjusted Funds From Operations (“AFFO”). The Company presents this information because the Company believes these non-GAAP measures help investors better understand the Company’s operating performance as compared to other out-of-home advertisers, and these metrics are widely used by such companies in practice. Please refer to the reconciliation of non-GAAP financial measures to their most directly comparable GAAP financial measure below.
The Company defines, and uses, these non-GAAP financial measures as follows:
•Adjusted EBITDA is defined as consolidated net income (loss), plus: income tax expense (benefit); all non-operating expenses (income), including other expense (income), net, loss on extinguishment of debt, and interest expense, net; other operating expense (income), net; impairment charges; depreciation and amortization; non-cash compensation expenses included within corporate expenses; and restructuring and other costs included within operating expenses. Restructuring and other costs include costs associated with cost savings initiatives such as severance, consulting and termination costs and other special costs.
9

The Company uses Adjusted EBITDA as one of the primary measures for the planning and forecasting of future periods, as well as for measuring performance for compensation of Company executives and other members of Company management. The Company believes Adjusted EBITDA is useful for investors because it allows investors to view performance in a manner similar to the method used by Company management and helps improve investors' ability to understand the Company’s operating performance, making it easier to compare the Company's results with other companies that have different capital structures or tax rates. In addition, the Company believes Adjusted EBITDA is among the primary measures used externally by the Company's investors, analysts and peers in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry.
•As part of the calculation of Adjusted EBITDA, the Company also presents the non-GAAP financial measure of “Adjusted Corporate expenses,” which the Company defines as corporate expenses excluding restructuring and other costs and non-cash compensation expense.
•The Company uses the National Association of Real Estate Investment Trusts (“Nareit”) definition of FFO, which is consolidated net loss before depreciation and amortization of real estate, gains or losses from the disposal of real estate, impairment of real estate, and adjustments to eliminate unconsolidated affiliates and noncontrolling interest. The Company defines AFFO as FFO before: maintenance capital expenditures, straight-line rent effects, depreciation and amortization of non-real estate, loss on extinguishment of debt, amortization of deferred financing costs and discounts, share-based compensation, deferred taxes, restructuring and other costs, transaction costs, foreign exchange transaction gain or loss, non-service related pension costs or benefits, and other items including adjustment for unconsolidated affiliates and noncontrolling interest and nonrecurring infrequent or unusual gains or losses.
The Company is not a Real Estate Investment Trust (“REIT”). However, the Company competes directly with REITs that present the non-GAAP measures of FFO and AFFO and, accordingly, believes that presenting such measures will be helpful to investors in evaluating the Company’s operations with the same terms used by the Company’s direct competitors. The Company calculates FFO in accordance with the definition adopted by Nareit. Nareit does not restrict presentation of non-GAAP measures traditionally presented by REITs by entities that are not REITs. In addition, the Company believes FFO and AFFO are already among the primary measures used externally by the Company’s investors, analysts and competitors in its industry for purposes of valuation and comparing the operating performance of the Company to other companies in its industry. The Company does not use, and you should not use, FFO and AFFO as an indication of the Company’s ability to fund its cash needs or pay dividends or make other distributions. Because the Company is not a REIT, the Company does not have an obligation to pay dividends or make distributions to stockholders and does not intend to pay dividends for the foreseeable future. Moreover, the presentation of these measures should not be construed as an indication that the Company is currently in a position to convert into a REIT.
A significant portion of the Company's advertising operations is conducted in foreign markets, principally Europe, and Company management reviews the results from its foreign operations on a constant dollar basis. The Company presents the GAAP measures of revenue, direct operating and SG&A expenses, corporate expenses and Segment Adjusted EBITDA, as well as the non-GAAP financial measures of Adjusted EBITDA, Adjusted Corporate expenses, FFO and AFFO, excluding movements in foreign exchange rates because Company management believes that viewing certain financial results without the impact of fluctuations in foreign currency rates facilitates period-to-period comparisons of business performance and provides useful information to investors. These measures, which exclude the effects of foreign exchange rates, are calculated by converting the current period's amounts in local currency to U.S. dollars using average foreign exchange rates for the comparable prior period.
Since these non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered in isolation of, or as a substitute for, the most directly comparable GAAP financial measures as an indicator of operating performance or, in the case of Adjusted EBITDA, FFO and AFFO, the Company’s ability to fund its cash needs. In addition, these measures may not be comparable to similar measures provided by other companies. See reconciliations of consolidated net loss to Adjusted EBITDA, corporate expenses to Adjusted Corporate expenses and consolidated net loss to FFO and AFFO in the tables set forth below. This data should be read in conjunction with the Company’s most recent Annual Report on Form 10-K, Form 10-Qs and Form 8-Ks, which are available on the Investor Relations page of the Company’s website at investor.clearchannel.com.
10

Reconciliation of Consolidated Net Loss to Adjusted EBITDA
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2022202120222021
Consolidated net loss$(38,780)$(40,788)$(193,826)$(498,645)
Adjustments:
Income tax benefit(20,958)(6,894)(219)(36,019)
Other expense, net27,857 11,973 60,091 1,788 
Loss on extinguishment of debt
— — — 102,757 
Interest expense, net92,878 84,276 262,270 267,211 
Other operating expense (income), net3,764 (2,422)220 (4,045)
Impairment charges871 — 22,676 118,950 
Depreciation & amortization57,846 65,600 178,830 190,019 
Share-based compensation
5,290 5,874 16,880 14,331 
Restructuring and other costs
715 18,729 12,922 44,612 
Adjusted EBITDA$129,483 $136,348 $359,844 $200,959 
Reconciliation of Corporate Expenses to Adjusted Corporate Expenses
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2022202120222021
Corporate expenses$(37,433)$(41,806)$(120,159)$(113,576)
Share-based compensation5,290 5,874 16,880 14,331 
Restructuring and other costs(806)1,498 9,742 8,612 
Adjusted Corporate expenses$(32,949)$(34,434)$(93,537)$(90,633)
11

Reconciliation of Consolidated Net Loss to FFO and AFFO
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)20222022
Consolidated net loss$(38,780)$(193,826)
Depreciation and amortization of real estate49,067 151,585 
Loss on disposal of real estate, net of tax1,126 7,082 
Impairment of real estate871 22,676 
Adjustment for unconsolidated affiliates and non-controlling interest(1,479)(3,164)
Funds From Operations (FFO)$10,805 $(15,647)
Capital expenditures–maintenance(13,560)(31,415)
Straight-line rent effect190 1,484 
Depreciation and amortization of non-real estate8,779 27,245 
Amortization of deferred financing costs and discounts2,824 8,381 
Share-based compensation5,290 16,880 
Deferred taxes(22,396)(4,677)
Restructuring and other costs715 12,922 
Transaction costs2,320 11,968 
Foreign exchange transaction loss28,762 63,003 
Non-service related pension benefits(677)(1,977)
Other items464 260 
Adjusted Funds From Operations (AFFO)$23,516 $88,427 
Reconciliation of Consolidated Net Loss Guidance1 to Adjusted EBITDA Guidance1
Full Year 2022
(in millions)LowHigh
Consolidated net loss$(165)$(138)
Adjustments:
Income tax expense5 5 
Other expense, net53 53 
Interest expense, net360 363 
Other operating expense, net3 3 
Impairment charges23 23 
Depreciation & amortization241 241 
Share-based compensation
21 21 
Restructuring and other costs
19 19 
Adjusted EBITDA$560 $590 
1Guidance excludes movements in FX.
12

Reconciliation of Corporate Expenses Guidance1 to Adjusted Corporate Expenses Guidance1
Full Year 2022
(in millions)LowHigh
Corporate expenses$(159)$(169)
Share-based compensation21 21 
Restructuring and other costs13 13 
Adjusted Corporate expenses$(125)$(135)
1Guidance excludes movements in FX.
Reconciliation of Consolidated Net Loss Guidance1 to FFO and AFFO Guidance1
Full Year 2022
(in millions)LowHigh
Consolidated net loss$(165)$(138)
Depreciation and amortization of real estate204 204 
Loss on disposal of real estate, net of tax10 10 
Impairment of real estate23 23 
Adjustment for unconsolidated affiliates and non-controlling interest(4)(4)
Funds From Operations (FFO)$68 $95 
Capital expenditures–maintenance(57)(64)
Straight-line rent effect5 5 
Depreciation and amortization of non-real estate37 37 
Amortization of deferred financing costs and discounts11 11 
Share-based compensation21 21 
Deferred taxes(12)(12)
Restructuring and other costs19 19 
Transaction costs13 13 
Foreign exchange transaction loss58 58 
Non-service related pension benefits(3)(3)
Adjusted Funds From Operations (AFFO)$160 $180 
1Guidance excludes movements in FX.
Conference Call
The Company will host a conference call to discuss these results on November 8, 2022 at 8:30 a.m. Eastern Time. The conference call number is 1-833-927-1758 (U.S. callers) and 1-929-526-1599 (international callers), and the access code for both is 913379. A live audio webcast of the conference call will be available on the “Events and Presentations” section of the Company’s investor website (investor.clearchannel.com). Approximately two hours after the live conference call, a replay of the webcast will be available for a period of 30 days on the “Events and Presentations” section of the Company’s investor website.
13

About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is at the forefront of driving innovation in the out-of-home advertising industry. Our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month across more than 500,000 print and digital displays in 24 countries.
For further information, please contact:
Investors:
Eileen McLaughlin
Vice President - Investor Relations
(646) 355-2399
InvestorRelations@clearchannel.com
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this earnings release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Clear Channel Outdoor Holdings, Inc. and its subsidiaries (the “Company”) to be materially different from any future results, performance, achievements, guidance, goals and/or targets expressed or implied by such forward-looking statements. The words “guidance,” “believe,” “expect,” “anticipate,” “estimate,” “forecast,” “goals,” “targets” and similar words and expressions are intended to identify such forward-looking statements. In addition, any statements that refer to expectations or other characterizations of future events or circumstances, such as statements about our guidance, outlook, long-term forecast, goals or targets; our business plans and strategies; and our expectations about certain markets, strategic review processes and our liquidity, are forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict.
Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this earnings release include, but are not limited to: risks associated with weak or uncertain global economic conditions and their impact on the level of expenditures on advertising; heightened levels of economic inflation and rising interest rates; fluctuations in operating costs; supply chain shortages; our ability to achieve expected financial results and growth targets; geopolitical events, such as the war in Ukraine and the associated global effects thereof; the continued impact of the COVID-19 pandemic on our operations and on general economic conditions; our ability to service our debt obligations and to fund our operations and capital expenditures; the impact of our substantial indebtedness, including the effect of our leverage on our financial position and earnings; industry conditions, including competition; our ability to obtain and renew key contracts with municipalities, transit authorities and private landlords; technological changes and innovations; shifts in population and other demographics; changes in labor conditions and management; regulations and consumer concerns regarding privacy and data protection; a breach of our information security systems and measures; legislative or regulatory requirements; restrictions on out-of-home advertising of certain products; the impact of the continued strategic review of our European business and assets, including a possible sale of all or a part thereof; our ability to execute restructuring plans; the impact of future dispositions, acquisitions and other strategic transactions; third-party claims of intellectual property infringement, misappropriation or other violation against us or our suppliers; the risk that indemnities from iHeartMedia will not be sufficient to insure us against the full amount of certain liabilities; risks of doing business in foreign countries; fluctuations in exchange rates and currency values; the volatility of our stock price; the effect of analyst or credit ratings downgrades; our ability to continue to comply with the applicable listing standards of the New York Stock Exchange; the ability of our subsidiaries to dividend or distribute funds to us in order for us to repay our debts; the restrictions contained in the agreements governing our indebtedness limiting our flexibility in operating our business; the phasing out of LIBOR; our dependence on our management team and other key individuals; continued scrutiny and changing expectations from investors, lenders, customers, government regulators and other stakeholders; and certain other factors set forth in our other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this earnings release. Other key risks are described in the section entitled "Item 1A. Risk Factors" of the Company’s reports filed with the SEC, including the Company's Annual Report on Form 10-K for the year ended December 31, 2021. The Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.
14
 EX-99.2 3 exhibit992-ccibvfinancials.htm EX-99.2 Document

Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF LOSS
(UNAUDITED)

(In thousands)Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
Revenue$239,197 $262,568 $736,616 $659,216 
Operating expenses:
Direct operating expenses(1)
171,060 187,080 530,351 554,087 
Selling, general and administrative expenses(1)
54,219 61,040 162,604 173,936 
Corporate expenses(1)
11,425 17,691 36,634 32,821 
Depreciation and amortization16,628 22,509 54,851 64,740 
Other operating expense (income), net87 (189)(1,553)(600)
Operating loss(14,222)(25,563)(46,271)(165,768)
Interest expense, net(11,265)(5,970)(31,397)(18,094)
Other expense, net(36,985)(10,987)(81,364)(871)
Loss before income taxes(62,472)(42,520)(159,032)(184,733)
Income tax benefit (expense)(765)4,776 (1,346)6,131 
Consolidated net loss(63,237)(37,744)(160,378)(178,602)
Less amount attributable to noncontrolling interest— — (66)— 
Net loss attributable to the Company$(63,237)$(37,744)$(160,312)$(178,602)

(1)Excludes depreciation and amortization

 EX-101.SCH 4 cco-20221108.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 5 cco-20221108_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Pre-commencement Tender Offer Pre-commencement Tender Offer Amendment Flag Amendment Flag Entity Address, State or Province Entity Address, State or Province Entity Tax Identification Number Entity Tax Identification Number Title of 12(b) Security Title of 12(b) Security Entity File Number Entity File Number Written Communications Written Communications Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Entity Emerging Growth Company Entity Emerging Growth Company Trading Symbol Trading Symbol Document Period End Date Document Period End Date Soliciting Material Soliciting Material Document Type Document Type City Area Code City Area Code Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Entity Address, Address Line One Entity Address, Address Line One Entity Registrant Name Entity Registrant Name Entity Address, Address Line Two Entity Address, Address Line Two Local Phone Number Local Phone Number Entity Address, City or Town Entity Address, City or Town Cover [Abstract] Entity Address, Postal Zip Code Entity Address, Postal Zip Code Entity Central Index Key Entity Central Index Key Security Exchange Name Security Exchange Name EX-101.PRE 6 cco-20221108_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT GRAPHIC 7 ccohlogoa12a.jpg LOGO begin 644 ccohlogoa12a.jpg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end XML 8 R1.htm IDEA: XBRL DOCUMENT v3.22.2.2
Cover
Nov. 08, 2022
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 08, 2022
Entity Registrant Name CLEAR CHANNEL OUTDOOR HOLDINGS, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 001-32663
Entity Tax Identification Number 88-0318078
Entity Address, Address Line One 4830 North Loop 1604W
Entity Address, Address Line Two Suite 111
Entity Address, City or Town San Antonio
Entity Address, State or Province TX
Entity Address, Postal Zip Code 78249
City Area Code 210
Local Phone Number 547-8800
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.01 par value per share
Trading Symbol CCO
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Central Index Key 0001334978
Amendment Flag false
XML 9 cco-20221108_htm.xml IDEA: XBRL DOCUMENT 0001334978 2022-11-08 2022-11-08 0001334978 false 8-K 2022-11-08 CLEAR CHANNEL OUTDOOR HOLDINGS, INC. DE 001-32663 88-0318078 4830 North Loop 1604W Suite 111 San Antonio TX 78249 210 547-8800 false false false false Common Stock, $0.01 par value per share CCO NYSE false EXCEL 10 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 11 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 12 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 13 FilingSummary.xml IDEA: XBRL DOCUMENT 3.22.2.2 html 1 23 1 false 0 0 false 0 false false R1.htm 0000001 - Document - Cover Sheet http://www.clearchanneloutdoor.com/role/Cover Cover Cover 1 false false All Reports Book All Reports cco-20221108.htm cco-20221108.xsd cco-20221108_lab.xml cco-20221108_pre.xml exhibit991-ccohearningsrel.htm exhibit992-ccibvfinancials.htm http://xbrl.sec.gov/dei/2021 true false JSON 15 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "cco-20221108.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "inline": { "local": [ "cco-20221108.htm" ] }, "labelLink": { "local": [ "cco-20221108_lab.xml" ] }, "presentationLink": { "local": [ "cco-20221108_pre.xml" ] }, "schema": { "local": [ "cco-20221108.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://xbrl.sec.gov/dei/2021/dei-2021.xsd" ] } }, "elementCount": 24, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2021": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 23, "memberCustom": 0, "memberStandard": 0, "nsprefix": "cco", "nsuri": "http://www.clearchanneloutdoor.com/20221108", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "cco-20221108.htm", "contextRef": "i559e464844df410b87ca07b3c99ad733_D20221108-20221108", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "0000001 - Document - Cover", "role": "http://www.clearchanneloutdoor.com/role/Cover", "shortName": "Cover", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "cco-20221108.htm", "contextRef": "i559e464844df410b87ca07b3c99ad733_D20221108-20221108", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2021", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity Address, Address Line Two", "terseLabel": "Entity Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security", "terseLabel": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2021", "presentation": [ "http://www.clearchanneloutdoor.com/role/Cover" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } ZIP 16 0001334978-22-000030-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001334978-22-000030-xbrl.zip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end