Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 59

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 59
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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 2024, primarily due to the repurchase of a portion of our 7.750% and 7.500% Senior Notes in the second quarter of 2025 and lower average interest rates on our Term Loan Facility. These decreases were partially offset by higher interest expense associated with the August 2025 senior secured notes refinancing.

Loss on Extinguishment of Debt, Net

During the three months ended September 30, 2025, we recognized a loss on extinguishment of debt of $43.8 million related to the August 2025 senior secured notes refinancing transactions. For the nine months ended September 30, 2025, this loss was partially offset by a $28.8 million gain on extinguishment of debt recognized in the second quarter of 2025 related to the repurchase of a portion of our 7.750% and 7.500% Senior Notes in open market transactions at a discount.

We did not extinguish any debt during the three months ended September 30, 2024. During the nine months ended September 30, 2024, we recognized a $2.4 million loss on extinguishment of debt related to the prepayment and amendment of the Term Loan Facility.

Other Income (Expense), Net

Other income (expense), net, was income of $0.1 million and expense of $0.8 million for the three months ended September 30, 2025 and 2024, respectively, and income of $1.0 million for the nine months ended September 30, 2025.

For the nine months ended September