EX-99.2
Published on February 28, 2023
Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF LOSS
(UNAUDITED)
| (In thousands) | Three Months Ended December 31, |
Year Ended December 31, |
|||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Revenue | $ | 316,197 | $ | 349,689 | $ | 1,052,813 | $ | 1,008,905 | |||||||||||||||
| Operating expenses: | |||||||||||||||||||||||
Direct operating expenses(1)
|
186,720 | 204,177 | 717,071 | 758,264 | |||||||||||||||||||
Selling, general and administrative expenses(1)
|
56,307 | 62,778 | 218,911 | 236,714 | |||||||||||||||||||
Corporate expenses(1)
|
11,235 | 8,236 | 47,869 | 41,057 | |||||||||||||||||||
| Depreciation and amortization | 19,743 | 21,749 | 74,594 | 86,489 | |||||||||||||||||||
| Impairment charges | 16,870 | — | 16,870 | — | |||||||||||||||||||
| Other operating income, net | (1,221) | (3,478) | (2,774) | (4,078) | |||||||||||||||||||
| Operating income (loss) | 26,543 | 56,227 | (19,728) | (109,541) | |||||||||||||||||||
| Interest expense, net | (12,182) | (21,524) | (43,579) | (39,618) | |||||||||||||||||||
| Other income (expense), net | 37,358 | 5,235 | (44,006) | 4,364 | |||||||||||||||||||
| Income (loss) before income taxes | 51,719 | 39,938 | (107,313) | (144,795) | |||||||||||||||||||
| Income tax benefit (expense) | (7,360) | (2,360) | (8,706) | 3,771 | |||||||||||||||||||
| Consolidated net income (loss) | 44,359 | 37,578 | (116,019) | (141,024) | |||||||||||||||||||
| Less amount attributable to noncontrolling interest | 26 | 98 | (40) | 98 | |||||||||||||||||||
| Net income (loss) attributable to the Company | $ | 44,333 | $ | 37,480 | $ | (115,979) | $ | (141,122) | |||||||||||||||
(1)Excludes depreciation and amortization