EX-99.2
Published on November 9, 2020
Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF LOSS
(UNAUDITED)
| (In thousands) | Three Months Ended September 30, |
Nine Months Ended September 30, |
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| 2020 | 2019 | 2020 | 2019 | |||||||||||||
| Revenue |
$ | 216,934 | $ | 250,440 | $ | 535,970 | $ | 784,772 | ||||||||
| Operating expenses: |
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| Direct operating expenses (excludes depreciation and amortization) |
172,049 | 180,891 | 476,541 | 539,645 | ||||||||||||
| Selling, general and administrative expenses (excludes depreciation and amortization) |
56,469 | 57,353 | 156,026 | 173,308 | ||||||||||||
| Corporate expenses (excludes depreciation and amortization) |
648 | 8,747 | 15,505 | 25,941 | ||||||||||||
| Depreciation and amortization |
21,385 | 19,910 | 61,891 | 58,438 | ||||||||||||
| Other operating income (expense), net |
(4,002 | ) | 212 | (9,522 | ) | (74 | ) | |||||||||
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| Operating loss |
(37,619 | ) | (16,249 | ) | (183,515 | ) | (12,634 | ) | ||||||||
| Interest expense, net |
4,720 | 7,053 | 10,109 | 31,288 | ||||||||||||
| Loss on extinguishment of debt |
| 10,961 | | 10,961 | ||||||||||||
| Other income (expense), net |
11,877 | (8,880 | ) | (8,656 | ) | (10,508 | ) | |||||||||
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| Loss before income taxes |
(30,462 | ) | (43,143 | ) | (202,280 | ) | (65,391 | ) | ||||||||
| Income tax benefit (expense) |
1,845 | 3,325 | (4,783 | ) | (1,790 | ) | ||||||||||
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| Consolidated net loss |
(28,617 | ) | (39,818 | ) | (207,063 | ) | (67,181 | ) | ||||||||
| Less amount attributable to noncontrolling interest |
1 | | 4 | 2 | ||||||||||||
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| Net loss attributable to the Company |
$ | (28,618 | ) | $ | (39,818 | ) | $ | (207,067 | ) | $ | (67,183 | ) | ||||
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