EX-99.2
Published on February 24, 2022
Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF LOSS
(UNAUDITED)
| (In thousands) | Three Months Ended December 31, |
Years Ended December 31, |
|||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| Revenue | $ | 349,689 | $ | 268,425 | $ | 1,008,905 | $ | 804,395 | |||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
Direct operating expenses(1)
|
204,177 | 177,085 | 758,264 | 653,626 | |||||||||||||||||||
Selling, general and administrative expenses(1)
|
62,778 | 59,567 | 236,714 | 215,593 | |||||||||||||||||||
Corporate expenses(1)
|
10,431 | 5,500 | 42,896 | 21,005 | |||||||||||||||||||
| Depreciation and amortization | 21,749 | 23,039 | 86,489 | 84,930 | |||||||||||||||||||
| Other operating expense (income), net | (585) | 2,401 | (829) | 11,923 | |||||||||||||||||||
| Operating income (loss) | 51,139 | 833 | (114,629) | (182,682) | |||||||||||||||||||
| Interest expense, net | (21,524) | (7,538) | (39,618) | (17,647) | |||||||||||||||||||
| Other income, net | 5,235 | 18,836 | 4,364 | 10,180 | |||||||||||||||||||
| Income (loss) before income taxes | 34,850 | 12,131 | (149,883) | (190,149) | |||||||||||||||||||
| Income tax benefit (expense) | (2,360) | (956) | 3,771 | (5,739) | |||||||||||||||||||
| Consolidated net income (loss) | 32,490 | 11,175 | (146,112) | (195,888) | |||||||||||||||||||
| Less amount attributable to noncontrolling interest | 98 | (2) | 98 | 2 | |||||||||||||||||||
| Net income (loss) attributable to the Company | $ | 32,392 | $ | 11,177 | $ | (146,210) | $ | (195,890) | |||||||||||||||
(1)Excludes depreciation and amortization