Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 117

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 117
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 subsidiaries, where, in most jurisdictions, tax basis amounts exceed the financial reporting basis as of December 31, 2024.If any excess cash held by foreign subsidiaries were required to fund operations in the U.S., the Company could repatriate available funds with minimal U.S. tax consequences, as calculated for tax law purposes. The Company regularly reviews its tax liabilities related to amounts that may be distributed in future periods and provides for any applicable foreign withholding or other current and deferred taxes. Refer to Note 9 for additional disclosures about the Company’s income taxes.New Accounting Pronouncements Recently AdoptedAdoption of ASU 2023-07As of December 31, 2024, the Company adopted Accounting Standards Update (“ASU”) 2023-07, Improvements to Reportable Segment Disclosures. This update enhances segment disclosures, requiring the reporting of significant segment expenses and other segment items included in the reported measure of segment profit or loss, as well as the title and position of the chief operating decision maker (“CODM”) and a description of how the CODM uses this information to assess segment performance and allocate resources.As a result, the Company now reports site lease expenses and employee compensation costs for its America and Airports segments as significant segment expenses provided to the CODM as part of Segment Adjusted EBITDA. These disclosures, along with the other related requirements, are presented in Note 4. The requirements are applied retrospectively to all periods presented and will also be applicable to interim periods beginning in 2025.New Accounting Pronouncements Not Yet AdoptedIn December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which enhances income tax disclosure requirements. The update requires more detailed disclosures in the effective tax rate reconciliation, including additional information on state, local and foreign taxes, tax credits and other reconciling items. It also introduces new requirements for disaggregating income taxes paid and income from continuing operations by jurisdiction. Additionally, the update eliminates certain prior disclosure requirements. These changes will be effective for the Company beginning with its 2025 Annual Report on Form 10-K and may be applied on a prospective or retrospective basis. The Company is currently evaluating the impact on its disclosures.In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses, which requires enhanced disaggregation of certain costs and expenses. The update requires disclosure of amounts included in relevant expense captions on the face of the income statement, including purchases