EX-99.2
Published on November 8, 2022
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, |
|||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Revenue | $ | 239,197 | $ | 262,568 | $ | 736,616 | $ | 659,216 | |||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
Direct operating expenses(1)
|
171,060 | 187,080 | 530,351 | 554,087 | |||||||||||||||||||
Selling, general and administrative expenses(1)
|
54,219 | 61,040 | 162,604 | 173,936 | |||||||||||||||||||
Corporate expenses(1)
|
11,425 | 17,691 | 36,634 | 32,821 | |||||||||||||||||||
| Depreciation and amortization | 16,628 | 22,509 | 54,851 | 64,740 | |||||||||||||||||||
| Other operating expense (income), net | 87 | (189) | (1,553) | (600) | |||||||||||||||||||
| Operating loss | (14,222) | (25,563) | (46,271) | (165,768) | |||||||||||||||||||
| Interest expense, net | (11,265) | (5,970) | (31,397) | (18,094) | |||||||||||||||||||
| Other expense, net | (36,985) | (10,987) | (81,364) | (871) | |||||||||||||||||||
| Loss before income taxes | (62,472) | (42,520) | (159,032) | (184,733) | |||||||||||||||||||
| Income tax benefit (expense) | (765) | 4,776 | (1,346) | 6,131 | |||||||||||||||||||
| Consolidated net loss | (63,237) | (37,744) | (160,378) | (178,602) | |||||||||||||||||||
| Less amount attributable to noncontrolling interest | — | — | (66) | — | |||||||||||||||||||
| Net loss attributable to the Company | $ | (63,237) | $ | (37,744) | $ | (160,312) | $ | (178,602) | |||||||||||||||
(1)Excludes depreciation and amortization