Company: CCO
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001334978-25-000037
Chunk: 32

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 32
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, 2025, the Company had recorded a cumulative loss of $52.7 million to reduce the carrying value of the Brazil business to its estimated fair value less costs to sell.Recorded gains and losses related to these sales are reflected in “Income (loss) from discontinued operations” in the Consolidated Statements of Income (Loss), and net cash proceeds received are included in “Proceeds from sales of businesses and/or assets, net of direct costs to sell and cash sold” within investing activities in the Consolidated Statement of Cash Flows.As part of these sales, the Company has agreed to provide certain transitional services to the buyers pursuant to transitional services agreements. Income and expenses related to these services are presented as part of “Loss from continuing operations” in the Consolidated Statements of Income (Loss).

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Table of ContentsCLEAR CHANNEL OUTDOOR HOLDINGS, INC. AND SUBSIDIARIESCONDENSED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

Assets and Liabilities of Discontinued OperationsAs previously described, assets and liabilities of discontinued operations are presented separately in the Consolidated Balance Sheets for all periods presented. The following table reconciles the carrying amounts of the major classes of assets and liabilities of discontinued operations to the current assets and liabilities of discontinued operations as presented on the Company’s Consolidated Balance Sheets:(In thousands)September 30,2025(1)December 31,2024(2)Assets of discontinued operations:Cash and cash equivalents$23,289 $54,595 Accounts receivable, net40,144 227,240 Prepaid expenses and other current assets16,739 49,252 Property, plant and equipment, net64,503 212,531 Goodwill and other intangible assets, net— 160,047 Operating lease right-of-use assets53,269 472,774 Other assets12,104 33,299 Valuation allowance on business in Brazil(3)(37,029)(33,702)Current assets of discontinued operations on Consolidated Balance Sheets$173,019 $1,176,036 Liabilities of discontinued operations:Accounts payable and accrued expenses$33,379 $235,215 Operating lease liabilities56,181 485,535 Deferred revenue1,476 17,804 Other liabilities2,706 25,916 Valuation allowance on business in Brazil(3)15,689 10,740 Current liabilities of discontinued operations on Consolidated Balance