EX-99.2
Published on August 7, 2020
Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(UNAUDITED)
| (In thousands) | Three Months Ended June 30, |
Six Months Ended June 30, |
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| 2020 | 2019 | 2020 | 2019 | |||||||||||||
| Revenue |
$ | 107,346 | $ | 290,436 | $ | 319,036 | $ | 534,332 | ||||||||
| Operating expenses: |
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| Direct operating expenses (excludes depreciation and amortization) |
130,896 | 184,846 | 304,492 | 358,754 | ||||||||||||
| Selling, general and administrative expenses (excludes depreciation and amortization) |
46,426 | 60,750 | 99,557 | 115,955 | ||||||||||||
| Corporate expenses (excludes depreciation and amortization) |
6,163 | 8,769 | 14,857 | 17,194 | ||||||||||||
| Depreciation and amortization |
20,150 | 19,511 | 40,506 | 38,528 | ||||||||||||
| Other operating income (expense), net |
(3,180 | ) | 91 | (5,520 | ) | (286 | ) | |||||||||
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| Operating income (loss) |
(99,469 | ) | 16,651 | (145,896 | ) | 3,615 | ||||||||||
| Interest expense, net |
2,806 | 11,997 | 5,389 | 24,235 | ||||||||||||
| Other income (expense), net |
(3,077 | ) | 1,018 | (20,533 | ) | (1,628 | ) | |||||||||
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| Net income (loss) before income taxes |
(105,352 | ) | 5,672 | (171,818 | ) | (22,248 | ) | |||||||||
| Income tax benefit (expense) |
813 | (4,238 | ) | (6,628 | ) | (5,115 | ) | |||||||||
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| Consolidated net income (loss) |
(104,539 | ) | 1,434 | (178,446 | ) | (27,363 | ) | |||||||||
| Less amount attributable to noncontrolling interest |
| 1 | 3 | 2 | ||||||||||||
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| Net income (loss) attributable to the Company |
$ | (104,539 | ) | $ | 1,433 | $ | (178,449 | ) | $ | (27,365 | ) | |||||
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