Clear Channel Outdoor Holdings, Inc. (CCO) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments411785399182144542413
Cash and cash equivalents411785399182144542413
Receivables643468710706659593698
Inventory, net of allowances, customer advances and progress billings 172118222124
Inventory 172118222124
Prepaid expense54506196112112 
Disposal group, including discontinued operation     56295
Other current assets26323331593944
Other undisclosed current assets (17)(21)(18)(22)(21)104
Total current assets:1,1351,3351,2021,0169741,3411,577
Noncurrent Assets
Operating lease, right-of-use asset1,5671,633 
Intangible assets, net (including goodwill)1,6881,829     
Goodwill699710     
Intangible assets, net (excluding goodwill)9891,119     
Prepaid expense  2454606270
Deposits noncurrent assets  2524231925
Restricted cash and investments  141618  
Deferred costs      41
Other noncurrent assets8270     
Other undisclosed noncurrent assets8278893539234113
Total noncurrent assets:4,1654,42198133125122148
Other undisclosed assets  5,0933,3743,5724,2554,632
TOTAL ASSETS:5,2995,7556,3934,5224,6715,7196,357
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities698661688645598568825
Accounts payable109101951148887100
Accrued liabilities523444504531510481508
Interest and dividends payable6611590   217
Deferred revenue776484
Debt21214080174
Deferred revenue and credits596791
Contract with customer, liability85
Other undisclosed current liabilities317344     
Total current liabilities:1,1131,0901,181730658642921
Noncurrent Liabilities
Long-term debt and lease obligation6,8956,8936,6235,2775,2665,1105,157
Long-term debt, excluding current maturities5,5845,5515,0645,2775,2665,1105,157
Operating lease, liability1,3111,3421,560
Liabilities, other than long-term debt, including:4861991832602703926
Asset retirement obligations 46444445  
Deferred tax liabilities, net  641609
Deferred income tax liabilities325  
Other liabilities161   46259240
Other undisclosed liabilities, other than long-term debt 153139216180(861)(824)
Other undisclosed noncurrent liabilities 356461357318861824
Total noncurrent liabilities:7,3807,4487,2675,8945,8556,0106,006
Total liabilities:8,4938,5388,4486,6246,5126,6526,927
Stockholders' equity
Stockholders' equity attributable to parent(3,205)(2,793)(2,208)(2,266)(2,002)(1,086)(761)
Common stock555    
Treasury stock, value(8)(3)(3)(7)(6)(4)(2)
Additional paid in capital3,5223,5033,4903,0863,1083,4323,962
Accumulated other comprehensive loss(351)(359)(350)(344)(339)(387)(452)
Accumulated deficit(6,373)(5,940)(5,350)(5,001)(4,766)(4,127)(4,269)
Stockholders' equity attributable to noncontrolling interest1111153160157150188
Other undisclosed stockholders' equity   4444
Total stockholders' equity:(3,194)(2,783)(2,055)(2,102)(1,841)(933)(570)
TOTAL LIABILITIES AND EQUITY:5,2995,7556,3934,5224,6715,7196,357

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues2,2411,8552,6842,7222,5912,7022,806
Operating lease, lease income720594753
Operating leases, income statement, lease revenue1,335
Cost of revenue
(Cost of Goods and Services Sold)
(1,270)(1,201)(1,452)(1,471)(1,403)(1,436)(1,495)
Gross profit:9716531,2321,2511,1891,2671,311
Operating expenses(578)(593)(555)(531)(513)(522)(553)
Other operating income (expense), net1541226355(5)
Other undisclosed operating loss(409)(407)(425)(471)(470)(462)(492)
Operating income (loss):(16)(292)253252232638261
Nonoperating income (expense)2(0)(15)(35)30(70)12
Foreign currency transaction gain (loss), before tax(4)1(2)(34)30(70) 
Other nonoperating income (expense)6(1)(14)(2)0(1)12
Interest and debt expense(453)(366)(520)(388)(381)(375)(356)
Other undisclosed loss from continuing operations before equity method investments, income taxes  (7)    
Income (loss) from continuing operations before equity method investments, income taxes:(468)(658)(290)(172)(119)192(82)
Income (loss) from equity method investments0101(1)(2)(0)
Other undisclosed income (loss) from continuing operations before income taxes(0)(1)(0)0(788)5061
Income (loss) from continuing operations before income taxes:(468)(658)(290)(170)(908)241(21)
Income tax expense (benefit)3558(72)(33)280(77)(50)
Net income (loss):(433)(600)(362)(203)(628)164(71)
Net income (loss) attributable to noncontrolling interest(1)17(2)(15)(12)(23)(25)
Net income (loss) available to common stockholders, diluted:(434)(583)(363)(218)(640)141(96)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):(433)(600)(362)(203)(628)164(71)
Other comprehensive income (loss)8(18)(6)(14)5757(122)
Other undisclosed comprehensive income (loss)(1)17(2)(15)(12)(23)(25)
Comprehensive income (loss):(426)(601)(370)(232)(583)198(218)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest0218(9)811
Comprehensive income (loss), net of tax, attributable to parent:(426)(599)(368)(224)(592)207(207)

Statements sources

The financial statements are based on the company's filings with the 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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