Company: CCO
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001334978-25-000027
Chunk: 55

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 55
---
 “Restructuring and other costs (reversals)” in the table below. The six-month comparison also reflects the absence of certain prior-year legal costs related to property and casualty settlements and lower employee compensation as noted above. Excluding share-based compensation, these cost decreases totaled $6.0 million.

The table below provides additional information on certain drivers of corporate expenses:

(In thousands)Three Months EndedJune 30,%Six Months EndedJune 30,%20252024Change20252024ChangeShare-based compensation expense(1)$7,359 $6,666 10.4%$12,783 $11,260 13.5%Restructuring and other costs (reversals)(2)755 1,062 (28.9)%(7,626)2,820 NM

(1)Excludes share-based compensation expense (reversal) for employees of discontinued operations.

(2)Percentage changes that are so large as to not be meaningful have been designated as “NM.”

Depreciation and Amortization

Depreciation and amortization increased by $0.8 million, or 2.0%, for the three months ended June 30, 2025, and by $1.8 million, or 2.1%, for the six months ended June 30, 2025, compared to the same periods in 2024. These increases were primarily driven by higher estimated costs for asset retirement obligations, which are capitalized and depreciated over the asset’s useful life.

26

Other Operating Income, Net

Other operating income, net, was $0.3 million and $0.1 million for the three months ended June 30, 2025 and 2024, respectively, and $6.1 million and $3.4 million for the six months ended June 30, 2025 and 2024, respectively. The year-over-year increase was primarily driven by lower transaction costs related to structural initiatives and financial advisory services. In the three-month period, this benefit was largely offset by lower net gains from the sale or disposal of operating assets. Refer to Note 11 to our Consolidated Financial Statements in Item 1 of Part I of this Quarterly Report on Form 10-Q for further detail.

Interest Expense, Net

Interest expense, net, decreased by $4.1 million for the three months ended June 30, 2025, and by $6.4 million for the six months ended June 30