Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 108

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 108
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 accordance with U.S. generally accepted accounting principles (“GAAP”), assets and liabilities of discontinued operations are presented separately in the Consolidated Balance Sheets, and results of discontinued operations are reported as a separate component of “Consolidated net loss” in the Consolidated Statements of Loss, for all periods presented, resulting in changes to the presentation of certain prior period amounts. Cash flows from discontinued operations are not reported separately in the Consolidated Statements of Cash Flows. Refer to Note 3 for additional information on discontinued operations. All other notes to these consolidated financial statements present the results of continuing operations and exclude amounts related to discontinued operations for all periods presented.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Preparation of Financial StatementsPrinciples of ConsolidationThese consolidated financial statements include the accounts of the Company and its subsidiaries, as well as entities in which the Company has a controlling financial interest or is the primary beneficiary. Noncontrolling interests are reported separately within equity. Intercompany transactions are eliminated in consolidation.

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

Foreign CurrencyResults of operations for foreign subsidiaries are translated into U.S. dollars using average exchange rates, while assets and liabilities are translated into U.S. dollars using the exchange rates at the balance sheet date. Translation adjustments are recorded in “Accumulated other comprehensive loss” within Stockholders’ Deficit on the Company’s Consolidated Balance Sheets. Foreign currency transaction gains and losses are recorded within “Other expense, net” on the Company’s Consolidated Statements of Loss, except those related to discontinued operations, which are reported in “Loss from Discontinued Operations.” Use of EstimatesThe Company’s consolidated financial statements and accompanying notes are prepared in accordance with GAAP and reflect estimates and assumptions made by management that affect the reported amounts. These estimates and assumptions impact areas including, but not limited to, goodwill, long-lived assets, leases, taxes, the allowance for credit losses, compensation and litigation accruals. The Company bases its estimates on historical experience and on other assumptions believed to be reasonable under the circumstances. Actual results may differ from those estimates.Discontinued OperationsA business is classified as held for sale when it meets the criteria under Accounting Standards Codification (“ASC”) 205-20-45-1E, including when sale is probable within one year (with certain exceptions), and the plan of sale is unlikely to change significantly. Assets and liabilities held for