Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 36

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 36
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 of ContentsCLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIESCONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

NOTE 3 – SEGMENT DATA

The Company operates two reportable segments, which it believes best reflect how the Company is currently managed: America and Airports, with remaining operations in Singapore reported as “Other.” The America segment serves markets across the U.S., while the Airports segment offers out-of-home advertising at airports in the U.S. and the Caribbean.Segment Adjusted EBITDA is the profitability metric reported to the Company’s chief operating decision maker (“CODM”). It is calculated as revenue less direct operating expenses and selling, general and administrative expenses, excluding restructuring and other costs. Restructuring and other costs include costs associated with cost-saving initiatives such as severance, consulting and termination costs and other special costs.The following table presents revenue, significant expenses, Segment Adjusted EBITDA and capital expenditures for each reportable segment for the three and nine months ended September 30, 2025 and 2024. Segment information for total assets is not presented as this information is not used by the CODM to measure segment performance or allocate resources between segments.(In thousands)Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024AmericaRevenue$309,959 $292,821 $867,263 $832,805 Site lease expense(1)95,736 85,895 278,186 253,446 Employee compensation costs(2)44,990 42,145 130,927 125,434 Other segment expenses(3)35,792 36,409 109,237 103,109 Segment Adjusted EBITDA$133,441 $128,372 $348,913 $350,816 Capital expenditures$8,236 $13,406 $26,882 $35,679 AirportsRevenue$95,610 $82,331 $275,278 $245,476 Site lease expense(1)57,370 51,507 168,523 148,347 Employee compensation costs(2)8,367 7,154 23,999 21,588 Other segment expenses(3)8,007 6,745 22,230 20,452 Segment Adjusted EBITDA$21,866