Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 21

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 21
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, employment and benefits-related claims, land use and zoning disputes, governmental fines, intellectual property claims, personal injury claims and tax disputes.

NOTE 7 – INCOME TAXES

Income Tax Benefit (Expense) Attributable to Continuing OperationsThe Company’s income tax benefit (expense) attributable to continuing operations for the three and six months ended June 30, 2025 and 2024 consisted of the following components:(In thousands)Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Current tax expense attributable to continuing operations$(1,281)$(337)$(2,497)$(830)Deferred tax benefit (expense) attributable to continuing operations(3,245)6,164 (3,209)6,485 Income tax benefit (expense) attributable to continuing operations$(4,526)$5,827 $(5,706)$5,655 The effective tax rates for continuing operations for the three and six months ended June 30, 2025 were 41.7% and (13.2)%, respectively, compared to 18.7% and 5.6% for the same periods in 2024. The rates were primarily impacted by a valuation allowance recorded against current-period deferred tax assets, primarily related to interest expense carryforwards, due to uncertainty regarding the Company’s ability to realize those assets in future periods.

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Table of ContentsCLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIESCONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

Subsequent Event — U.S. Tax ReformOn July 4, 2025, the One Big Beautiful Bill Act (“OBBB”) was enacted, introducing new legislation and revisions to the Internal Revenue Code, including modifications to bonus depreciation and interest expense limitations, among other provisions. Because the legislation was enacted after June 30, 2025, no adjustments have been recorded in these consolidated financial statements. The Company is currently evaluating the impact of the OBBB and will recognize the effects of applicable provisions in the third quarter of 2025.

NOTE 8 – PROPERTY, PLANT AND EQUIPMENT

The Company’s property, plant and equipment consisted of the following asset classes as of June 30, 2025 and December 31, 2024:(In thousands)June 30,2025December 31,2024Structures$1,859,073 $1,847,953