Clear Channel Outdoor Holdings, Inc. (CCO) Financial Statements (2024 and earlier)

Company Profile

Business Address 4830 NORTH LOOP 1604W, SUITE 111
SAN ANTONIO, TX 78249
State of Incorp.
Fiscal Year End December 31
Industry (SIC) 731 - Advertising (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments287411785399182144
Cash and cash equivalents287411785399182144
Receivables620643468710706659
Inventory, net of allowances, customer advances and progress billings   17211822
Inventory   17211822
Prepaid expense5554506196112
Disposal group, including discontinued operation 132     
Asset, held-for-sale, not part of disposal group      
Other current assets272632333159
Other undisclosed current assets   (17)(21)(18)(22)
Total current assets:1,1211,1351,3351,2021,016974
Noncurrent Assets
Operating lease, right-of-use asset1,4801,5671,633 
Property, plant and equipment788     
Intangible assets, net (including goodwill)1,4641,6881,829   
Goodwill651699710   
Intangible assets, net (excluding goodwill)8139891,119   
Prepaid expense    245460
Deposits noncurrent assets    252423
Restricted cash and investments 8  141618
Disposal group, including discontinued operation, noncurrent assets      
Other noncurrent assets738270   
Other undisclosed noncurrent assets153827889353923
Total noncurrent assets:3,9654,1654,42198133125
Other undisclosed assets    5,0933,3743,572
TOTAL ASSETS:5,0865,2995,7556,3934,5224,671
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities590698661688645598
Interest and dividends payable6611590  
Accounts payable1021091019511488
Accrued liabilities489523444504531510
Deferred revenue60776484
Debt25212140801
Disposal group, including discontinued operation 111     
Deferred revenue and credits59
Contract with customer, liability85
Other undisclosed current liabilities334317344   
Total current liabilities:1,1221,1131,0901,181730658
Noncurrent Liabilities
Long-term debt and lease obligation5,5696,8956,8936,6235,2775,266
Long-term debt, excluding current maturities5,5695,5845,5515,0645,2775,266
Liabilities, other than long-term debt, including:1,658486199183260270
Asset retirement obligations   46444445
Deferred income tax liabilities244325  
Disposal group, including discontinued operation, liabilities      
Other liabilities137161   46
Operating lease, liability1,2781,3111,3421,560
Other undisclosed liabilities, other than long-term debt   153139216180
Other undisclosed noncurrent liabilities   356461357318
Total noncurrent liabilities:7,2277,3807,4487,2675,8945,855
Total liabilities:8,3498,4938,5388,4486,6246,512
Equity
Equity, attributable to parent(3,276)(3,205)(2,793)(2,208)(2,266)(2,002)
Common stock5555  
Treasury stock, value(19)(8)(3)(3)(7)(6)
Additional paid in capital3,5433,5223,5033,4903,0863,108
Accumulated other comprehensive loss(335)(351)(359)(350)(344)(339)
Accumulated deficit(6,470)(6,373)(5,940)(5,350)(5,001)(4,766)
Equity, attributable to noncontrolling interest131111153160157
Other undisclosed equity     44
Total equity:(3,263)(3,194)(2,783)(2,055)(2,102)(1,841)
TOTAL LIABILITIES AND EQUITY:5,0865,2995,7556,3934,5224,671

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues2,4812,2411,8552,6842,7222,591
Operating leases, income statement, lease revenue1,335
Operating lease, lease income764720594753
Cost of revenue
(Cost of Goods and Services Sold)
(1,328)(1,270)(1,201)(1,452)(1,471)(1,403)
Gross profit:1,1539716531,2321,2511,189
Operating expenses(508)(578)(593)(555)(531)(513)
Other operating income (expense), net(2)1541226
Other undisclosed operating loss(412)(409)(407)(425)(471)(470)
Operating income (loss):232(16)(292)253252232
Nonoperating income (expense)(35)2(0)(15)(35)30
Gain (loss), foreign currency transaction, before tax(39)(4)1(2)(34)30
Other nonoperating income (expense) 26(1)(14)(2)0
Interest and debt expense(363)(453)(366)(520)(388)(381)
Other undisclosed loss from continuing operations before equity method investments, income taxes    (7)  
Loss from continuing operations before equity method investments, income taxes:(166)(468)(658)(290)(172)(119)
Income (loss) from equity method investments 20101(1)
Other undisclosed income (loss) from continuing operations before income taxes (2)(0)(1)(0)0(788)
Loss from continuing operations before income taxes:(166)(468)(658)(290)(170)(908)
Income tax expense (benefit)723558(72)(33)280
Loss from continuing operations:(94)(433)(600)(362)(203)(628)
Loss before gain (loss) on sale of properties:(433)(600)(362)(203)(628)
Loss from discontinued operations      
Net loss:(94)(433)(600)(362)(203)(628)
Net income (loss) attributable to noncontrolling interest(2)(1)17(2)(15)(12)
Net loss available to common stockholders, diluted:(97)(434)(583)(363)(218)(640)

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(94)(433)(600)(362)(203)(628)
Other comprehensive income (loss)168(18)(6)(14)57
Other undisclosed comprehensive income (loss)(2)(1)17(2)(15)(12)
Comprehensive loss:(81)(426)(601)(370)(232)(583)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest00218(9)
Other undisclosed comprehensive loss, net of tax, attributable to parent      
Comprehensive loss, net of tax, attributable to parent:(81)(426)(599)(368)(224)(592)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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