EX-99.2
Published on May 9, 2023
Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(UNAUDITED)
| (In thousands) | Three Months Ended March 31, |
||||||||||
| 2023 | 2022 | ||||||||||
| Revenue | $ | 242,398 | $ | 217,072 | |||||||
| Operating expenses: | |||||||||||
Direct operating expenses(1)
|
191,899 | 178,959 | |||||||||
Selling, general and administrative expenses(1)
|
54,996 | 51,957 | |||||||||
Corporate expenses(1)
|
11,056 | 12,556 | |||||||||
| Depreciation and amortization | 18,458 | 19,444 | |||||||||
Other operating expense (income), net(2)
|
(99,702) | 1,779 | |||||||||
| Operating income (loss) | 65,691 | (47,623) | |||||||||
| Interest expense, net | (11,573) | (10,021) | |||||||||
| Other income (expense), net | 10,636 | (11,810) | |||||||||
| Income (loss) before income taxes | 64,754 | (69,454) | |||||||||
| Income tax benefit (expense) | (42) | 3,088 | |||||||||
| Consolidated net income (loss) | 64,712 | (66,366) | |||||||||
| Less amount attributable to noncontrolling interest | 23 | — | |||||||||
| Net income (loss) attributable to the Company | $ | 64,689 | $ | (66,366) | |||||||
(1)Excludes depreciation and amortization.
(2)Other operating income, net, for the three months ended March 31, 2023 includes a gain of $96.4 million from sale of the business in Switzerland.