Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 6

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 6
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 decrease also reflects the absence of certain prior-year legal costs related to property and casualty settlements, as well as lower employee compensation, largely related to insurance benefits. Excluding share-based compensation, these cost decreases totaled $7.5 million.

The table below provides additional information on certain drivers of corporate expenses.

(In thousands)Three Months EndedSeptember 30,%Nine Months EndedSeptember 30,%20252024Change20252024ChangeShare-based compensation expense(1)$6,309 $6,019 4.8%$19,092 $17,279 10.5%Restructuring and other costs (reversals)(2)1,506 1,275 18.1%(6,120)4,095 NM

(1)Excludes share-based compensation expense (reversal) for employees of discontinued operations.

(2)Percentage changes that are so large as to not be meaningful have been designated as “NM.”

Depreciation and Amortization

Depreciation and amortization decreased by $2.3 million, or 5.1%, for the three months ended September 30, 2025, and by $0.6 million, or 0.4%, for the nine months ended September 30, 2025, compared to the same periods in 2024. The decrease for the three-month period primarily resulted from lower estimated asset retirement obligation costs.

Other Operating Expense (Income), Net

Other operating expense, net, was $0.1 million and $0.3 million for the three months ended September 30, 2025 and 2024, respectively, and other operating income, net, was $6.0 million and $3.0 million for the nine months ended September 30, 2025 and 2024, respectively.

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The changes primarily reflect lower transaction costs related to structural initiatives and financial advisory services. Refer to Note 11 to our Consolidated Financial Statements in Item 1 of Part I of this Quarterly Report on Form 10-Q for additional information.

Interest Expense, Net

Interest expense, net, increased by $1.4 million for the three months ended September 30, 2025, compared to the same period in 2024, primarily due to the August 2025 senior secured notes refinancing. 

For the nine months ended September 30, 2025, interest expense, net, decreased by $5.0 million compared to the same period in