Clear Channel Outdoor Holdings, Inc. Files 2023 Annual Report

TL;DR

<b>Clear Channel Outdoor Holdings, Inc. has filed its 2023 10-K annual report.</b>

AI Summary

Clear Channel Outdoor Holdings, Inc. (CCO) filed a Annual Report (10-K) with the SEC on February 26, 2024. Filed 10-K for the fiscal year ended December 31, 2023. Company is Clear Channel Outdoor Holdings, Inc. SEC Act of 1934, File Number 001-32663. Business and mailing address: 4830 North Loop 1604W, Suite 111, San Antonio, TX 78249. Standard Industrial Classification: SERVICES-ADVERTISING [7310].

Why It Matters

For investors and stakeholders tracking Clear Channel Outdoor Holdings, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance and operations for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential risks.

Risk Assessment

Risk Level: medium — Clear Channel Outdoor Holdings, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report, but specific financial performance details are not yet available in this header information, requiring a deeper dive into the full document.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand Clear Channel Outdoor's 2023 performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-02-26 — Filing Date (Filed as of date)
• 001-32663 — SEC File Number (SEC File Number)
• 7310 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Clear Channel Outdoor Holdings, Inc. (company) — Filer name
• San Antonio, TX (location) — Business and mailing address

FAQ

Industry Context

Clear Channel Outdoor Holdings operates in the advertising services industry, specifically focusing on outdoor advertising (billboards, street furniture, etc.).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit annual reports detailing their financial condition and operations.

What Investors Should Do

1. Analyze the full 10-K for revenue and net income figures for FY2023.
2. Identify any significant changes in assets or liabilities from the previous year.
3. Review the risk factors section for potential challenges facing the company.

Year-Over-Year Comparison

This is the initial header information for the 2023 10-K filing; comparative data from the previous year's filing will be detailed within the full document.

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 par value per share CCO New York Stock

Filing Documents

• cco-20231231.htm (10-K) — 2705KB
• exhibit21-ccoh2023q4.htm (EX-21) — 67KB
• exhibit23-ccoh2023q4.htm (EX-23) — 4KB
• exhibit311-ccoh2023q4.htm (EX-31.1) — 11KB
• exhibit312-ccoh2023q4.htm (EX-31.2) — 11KB
• exhibit321-ccoh2023q4.htm (EX-32.1) — 4KB
• exhibit322-ccoh2023q4.htm (EX-32.2) — 4KB
• exhibit97-ccoh2023q4.htm (EX-97) — 32KB
• cco-20231231_g1.jpg (GRAPHIC) — 9KB
• cco-20231231_g2.jpg (GRAPHIC) — 104KB
• cco-20231231_g3.jpg (GRAPHIC) — 4KB
• 0001334978-24-000006.txt (&nbsp;) — 14593KB
• cco-20231231.xsd (EX-101.SCH) — 72KB
• cco-20231231_cal.xml (EX-101.CAL) — 156KB
• cco-20231231_def.xml (EX-101.DEF) — 407KB
• cco-20231231_lab.xml (EX-101.LAB) — 1124KB
• cco-20231231_pre.xml (EX-101.PRE) — 768KB
• cco-20231231_htm.xml (XML) — 2445KB

Risk Factors

Item 1A. Risk Factors 16

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 30 Item 1C. C ybersecurity 30

Properties

Item 2. Properties 31

Legal Proceedings

Item 3. Legal Proceedings 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 33

Reserved

Item 6. Reserved 34

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 34

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 52

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 54

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 103

Controls and Procedures

Item 9A. Controls and Procedures 103

Other Information

Item 9B. Other Information 105

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 105 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 106

Executive Compensation

Item 11. Executive Compensation 106

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 106

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 106

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 107 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 108

Form 10-K Summary

Item 16. Form 10-K Summary 112

Signatures

Signatures 112 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS Overview Clear Channel Outdoor Holdings, Inc. (the "Company", "we" or "us") is one of the world's largest out-of-home advertising companies. With more than 325,000 print and digital displays in 19 countries as part of our continuing operations at December 31, 2023, we provide customized advertising solutions via our asset portfolio of roadside billboards, urban street furniture, airport advertising displays and other displays. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month. We believe we are at the forefront of driving innovation in the out-of-home advertising industry, and our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. For a discussion of our corporate history, please refer to the "Corporate History" section in Item 1 of our Annual Report on Form 10-K for the year ended December 31, 2019 , filed with the United States Securities and Exchange Commission ("SEC") on February 27, 2020, which is incorporated herein by reference. Our common stock is listed on the New York Stock Exchange under the symbol "CCO." Our Industry We believe out-of-home advertising enjoys a strong and unique position in the media mix. With over 90% of American adults on the road each week, according to data provided by Scarborough Research in 2023, out-of-home offers advertisers a cost-effective advertising medium to reach consumers along their daily journeys in ways that can drive measurable results. Out-of-home's large, creative canvases and access to distinctive features, including three-dimensional embellishments, lighting effects and more, provide advertisers an impactful way to tell creative brand stories. Out-of-home can also provide iconic, strategic locations, wi

View Full Filing

View this 10-K filing on SEC EDGAR