Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 14

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 14
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 39,822 Total capital expenditures(2),(3)$56,898 $85,300 

(1)Capital expenditures for discontinued operations decreased following the sales of our former Europe-North segment businesses and certain Latin American businesses in the first quarter of 2025.

(2)As of September 30, 2025 and 2024, we had accrued but unpaid capital expenditures for continuing operations of $2.9 million and $6.5 million, respectively. For discontinued operations, accrued but unpaid capital expenditures were $1.8 million and $6.1 million, respectively.

(3)Excludes asset acquisitions.

Acquisitions

During the nine months ended September 30, 2025 and 2024, we acquired out-of-home advertising assets in our America segment for total cash consideration of $0.5 million and $8.8 million, respectively. The 2025 acquisitions included permits and easements, while the 2024 acquisitions primarily included permits and digital billboard structures.

In August 2024, we also paid $9.3 million in cash consideration, net of cash acquired, to acquire a business that develops and operates urban infrastructure in Norway, including bike-sharing programs and bus shelters. (This acquisition was subsequently sold as part of the sale of our Europe-North segment.)

Debt Activity, Service Obligations and Covenants

Debt Activity

In March 2024, we issued $865.0 million aggregate principal amount of 7.875% Senior Secured Notes and used a portion of the proceeds to prepay $835.0 million of borrowings outstanding under the Term Loan Facility. At the same time, we amended the Senior Secured Credit Agreement to refinance the remaining $425.0 million balance of the Term Loan Facility and extend its maturity date, subject to certain conditions. The refinanced term loans were issued at a 1% discount, and proceeds, along with cash on hand, were used to repay the original term loans, $14.9 million of accrued interest and $15.4 million of related transaction fees.

Also in March 2024, CCIBV entered into a $375.0 million CCIBV Term Loan Facility, issued at a 1% discount. Proceeds, together with cash on hand, were used to redeem the $375.0 million CCIBV Senior Secured Notes and pay $11.8 million of accrued interest. Related transaction fees totaled