Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 120

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 120
---
31, 2024, the Company concluded that the businesses in its Europe-North segment and Latin America met the criteria for classification as held for sale in the Consolidated Balance Sheets, as well as for discontinued operations presentation. Upon classifying the Brazil business as held for sale, the Company recognized a loss of $44.4 million, reducing the carrying value of the Brazil business to fair value less costs to sell.As a result, these businesses have been reclassified to discontinued operations in the financial statements for all periods presented.

60

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

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 presents a reconciliation of the carrying amounts of the major classes of assets and liabilities of discontinued operations to the total assets and liabilities of discontinued operations as presented on the Company’s Consolidated Balance Sheets:(In thousands)December 31, 2024(1)December 31,2023(2)Assets of discontinued operations:Cash and cash equivalents$54,595 $80,527 Accounts receivable, net227,240 224,857 Prepaid expenses and other current assets49,252 50,512 Property, plant and equipment, net212,531 214,102 Goodwill and other intangible assets, net(3)160,047 157,680 Operating lease right-of-use assets472,774 446,363 Other assets33,299 38,307 Valuation allowance on business in Brazil(4)(33,702)— Total assets of discontinued operations on Consolidated Balance Sheets$1,176,036 $1,212,348 Liabilities of discontinued operations:Accounts payable and accrued expenses$235,215 $251,475 Operating lease liabilities485,535 455,660 Deferred revenue17,804 11,145 Other liabilities25,916 40,937 Valuation allowance on business in Brazil(4)10,740 — Total liabilities of discontinued operations on Consolidated Balance Sheets$775,210 $759,217 (1)As of December 31, 2024, all assets and liabilities of the Company’s businesses in Europe-North, Latin America and Spain are classified as current on the Consolidated Balance Sheet, as they are held