Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 123

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 123
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V (the borrower under these debt instruments). However, the principal balances of these debt instruments remain in continuing operations because, although the CCIBV Credit Agreement requires the Company to repay the CCIBV Term Loan Facility using net proceeds from the sale of the Europe-North businesses, the buyer will not assume the debt as part of the sale.(4)Other expense, net, primarily includes transaction costs related to the international sales processes, as well as net foreign currency transaction gains (in 2024 and 2023) or losses (in 2022). In 2024, other expense, net also includes a $2.4 million loss on extinguishment of debt and $2.0 million in debt modification expense related to the issuance of the CCIBV Term Loan Facility and the associated repayment of the CCIBV Senior Secured Notes, as described in Note 6. These costs are directly attributable to the Company’s European businesses, as discussed in note (4) to this table.Capital Expenditures of Discontinued OperationsThe following table presents the capital expenditures for discontinued operations in 2024, 2023 and 2022:(In thousands)Year Ended December 31, 202420232022Capital expenditures(1)$61,678 $65,101 $74,489 (1)In addition to capital expenditures paid during the period, the Company had accrued but unpaid capital expenditures for discontinued operations of $8.6 million, $10.2 million and $14.6 million as of December 31, 2024, 2023 and 2022, respectively.

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

NOTE 4 – SEGMENT DATA 

Reportable SegmentsAs described in Note 1, as of December 31, 2024, 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., generating over 90% of its revenue from roadside billboard displays, while the Airports segment offers out-of-home advertising at airports in the U.S. and the Caribbean.Segment Adjusted EBITDA and Other Segment InformationSegment Adjusted EBITDA is the profitability metric reported to the Company’s CODM, the Company’s President and Chief Executive Officer, for