Company: CCO
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001334978-25-000008
Chunk: 124

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 124
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 purposes of allocating resources and assessing segment performance. Segment Adjusted EBITDA is calculated as revenue less direct operating expenses and selling, general and administrative expenses, excluding restructuring and other costs. Restructuring and other costs include costs associated with cost-saving initiatives such as severance, consulting and termination costs and other special costs. The following table presents revenue, significant expenses, Segment Adjusted EBITDA and capital expenditures for each reportable segment for 2024, 2023 and 2022. Segment information for total assets is not presented as this information is not used by the CODM to measure segment performance or allocate resources between segments.(In thousands)Year Ended December 31, 202420232022AmericaRevenue$1,143,510 $1,100,846 $1,105,552 Site lease expense(1)346,171 348,229 322,725 Employee compensation costs(2)170,219 155,431 152,542 Other segment expenses(3)139,130 128,816 130,895 Segment Adjusted EBITDA$487,990 $468,370 $499,390 Capital expenditures$63,354 $75,431 $79,529 AirportsRevenue$361,488 $311,605 $256,402 Site lease expense(1)215,355 191,191 145,227 Employee compensation costs(2)30,445 29,438 26,629 Other segment expenses(3)27,828 22,750 23,682 Segment Adjusted EBITDA$87,860 $68,226 $60,864 Capital expenditures$12,619 $20,050 $25,298 (1)Site lease expense includes rent for both lease and non-lease contracts and consists of payments for land or space used by the Company’s advertising displays, including minimum guaranteed payments and revenue-sharing arrangements. (2)Employee compensation costs include employee salaries and wages, sales commissions and guarantees, bonuses, employee benefits and payroll taxes. The costs presented in this table exclude restructuring and other costs, such as severance, which are not included in the calculation of Segment Adjusted EBITDA. (3)Other segment expenses consist of expenses within “Direct operating expenses” and “Selling, general and administrative expenses” on the Consolidated Statements of Loss, excluding site lease expense, employee compensation costs, and restructuring and other costs