Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 145

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 145
---
 at December 31, 2024 related to discontinued operations that were sold or held for sale as of this date. Please refer to Note 3 for additional information.

74

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

NOTE 7 – LEASES

The following table provides the components of ASC 842 lease expense for continuing operations included within the Consolidated Statements of Loss for 2024, 2023 and 2022: Year Ended December 31,(In thousands)202420232022Operating lease expense$251,229 $236,589 $227,729 Variable lease expense63,342 61,226 60,781 The following table provides the weighted-average remaining lease term and the weighted-average discount rate for the Company's operating leases as of December 31, 2024 and 2023:December 31,2024December 31,2023Operating lease weighted-average remaining lease term (in years)12.613.1Operating lease weighted-average discount rate7.88%7.74%The following table provides the Company’s future maturities of operating leases as of December 31, 2024:(In thousands)Future maturities of operating lease liabilities:2025$228,425 2026217,754 2027197,283 2028182,139 2029162,002 Thereafter1,253,538   Total lease payments2,241,141 Less: Effect of discounting(878,919)  Total operating lease liabilities$1,362,222 The following table provides supplemental cash flow information related to leases:Year Ended December 31,(In thousands)202420232022Cash paid for amounts included in measurement of operating lease liabilities$246,192 $227,782 $227,166 Lease liabilities arising from obtaining right-of-use assets(1)393,959 206,093 192,333 (1)In 2024, we entered into a 15-year contract with the New York Metropolitan Transit Authority for roadside advertising assets with total undiscounted minimum lease payments of $390.0 million, effective November 1, 2024.

75

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

NOTE 8 – COMMITMENTS AND