Form: 8-K

Current report filing

February 25, 2021


Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF LOSS

(UNAUDITED)

(In thousands) Three Months Ended
December 31, 2020
Years Ended
December 31,
2020 2019 2020 2019
Revenue $ 268,425  $ 326,998  $ 804,395  $ 1,111,770 
Operating expenses:
Direct operating expenses (excludes depreciation and amortization) 177,085  204,926  653,626  744,571 
Selling, general and administrative expenses (excludes depreciation and amortization)
59,567  62,609  215,593  235,917 
Corporate expenses (excludes depreciation and amortization) 5,500  55  21,005  25,996 
Depreciation and amortization 23,039  22,204  84,930  80,642 
Other operating income (expense), net (2,401) 2,818  (11,923) 2,744 
Operating income (loss) 833  40,022  (182,682) 27,388 
Interest expense, net 7,538  5,590  17,647  36,878 
Loss on extinguishment of debt —  —  —  10,961 
Other income, net 18,836  10,678  10,180  170 
Income (loss) before income taxes 12,131  45,110  (190,149) (20,281)
Income tax expense (956) (61,927) (5,739) (63,717)
Consolidated net income (loss) 11,175  (16,817) (195,888) (83,998)
Less amount attributable to noncontrolling interest (2) — 
Net income (loss) attributable to the Company $ 11,177  $ (16,817) $ (195,890) $ (84,000)