Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 151

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 151
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Year Ended December 31,Unrecognized Tax Benefits20242023Balance at beginning of period$7,989 $15,586 Increases for tax position taken in the current year220 196 Increases for tax positions taken in previous years1 250 Decreases for tax positions taken in previous years(68)(287)Decreases due to settlements with tax authorities(1,055)— Decreases due to lapse of statute of limitations(1)(106)(7,756)Balance at end of period$6,981 $7,989 (1)All federal income tax matters through 2020 are closed. Substantially all material state, local, and foreign income tax matters have been concluded for years through 2020, with the exception of a current examination in Texas that covers the 2008-2016 tax years.The Company records interest and penalties related to unrecognized tax benefits in current income tax expense. At December 31, 2024 and 2023, the total amount of interest accrued was $5.9 million and $5.3 million, respectively, resulting in total unrecognized tax benefits, including accrued interest and penalties, of $12.8 million and $13.3 million, respectively.

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Table of ContentsCLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The unrecognized tax benefits, net of deposits on account with taxing authorities, are reflected on the Company’s Consolidated Balance Sheets as follows: $11.0 million and $11.3 million is included in “Other liabilities” at December 31, 2024 and 2023, respectively. In addition, $1.8 million and $2.0 million of unrecognized tax benefits are netted with the Company’s deferred tax assets for its net operating loss carryforwards at December 31, 2024 and 2023, respectively.The total amount of unrecognized tax benefits at December 31, 2024 and 2023 that, if recognized, would have impacted the effective income tax rate was $4.1 million and $5.1 million, respectively.

NOTE 10 – PROPERTY, PLANT AND EQUIPMENT

The Company’s property, plant and equipment consisted of the following classes of assets as of December 31, 2024 and 2023:(In thousands)December 31,2024December 31,2023Structures$1,847,