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Condensed Consolidating Financial Information (Tables) | 3 Months Ended
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Mar. 31, 2015
Condensed Consolidating Financial Information [Abstract] |
Condensed Balance Sheet |
|  | As of March 31, 2015
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 20.4 |  |  | $ | 15.1 |  |  | $ | 20.5 |  |  | $ | — |  |  | $ | 56.0 |
Receivables, less allowance |  | — |  |  | — |  |  | 174.6 |  |  | 26.4 |  |  | — |  |  | 201.0 |
Other current assets |  | — |  |  | 5.7 |  |  | 138.5 |  |  | 24.7 |  |  | — |  |  | 168.9 |
Total current assets |  | — |  |  | 26.1 |  |  | 328.2 |  |  | 71.6 |  |  | — |  |  | 425.9 |
Property and equipment, net |  | — |  |  | — |  |  | 683.1 |  |  | 87.3 |  |  | — |  |  | 770.4 |
Goodwill |  | — |  |  | — |  |  | 2,047.8 |  |  | 98.4 |  |  | — |  |  | 2,146.2 |
Intangible assets |  | — |  |  | — |  |  | 620.3 |  |  | 0.1 |  |  | — |  |  | 620.4 |
Investment in subsidiaries |  | 1,388.0 |  |  | 3,659.2 |  |  | 190.8 |  |  | — |  |  | (5,238.0 | ) |  | — |
Other assets |  | — |  |  | 31.7 |  |  | 55.7 |  |  | 6.9 |  |  | — |  |  | 94.3 |
Intercompany |  | — |  |  | — |  |  | 70.5 |  |  | 58.6 |  |  | (129.1 | ) |  | — |
Total assets |  | $ | 1,388.0 |  |  | $ | 3,717.0 |  |  | $ | 3,996.4 |  |  | $ | 322.9 |  |  | $ | (5,367.1 | ) |  | $ | 4,057.2 |
Total current liabilities |  | $ | — |  |  | $ | 27.6 |  |  | $ | 188.2 |  |  | $ | 33.5 |  |  | $ | — |  |  | $ | 249.3 |
Long-term debt |  | — |  |  | 2,301.4 |  |  | 0.3 |  |  | — |  |  | — |  |  | 2,301.7 |
Deferred income tax liabilities, net |  | — |  |  | — |  |  | — |  |  | 14.6 |  |  | — |  |  | 14.6 |
Asset retirement obligation |  | — |  |  | — |  |  | 28.6 |  |  | 7.8 |  |  | — |  |  | 36.4 |
Deficit in excess of investment of subsidiaries |  | — |  |  | — |  |  | 2,271.2 |  |  | — |  |  | (2,271.2 | ) |  | — |
Other liabilities |  | — |  |  | — |  |  | 61.5 |  |  | 5.7 |  |  | — |  |  | 67.2 |
Intercompany |  | — |  |  | — |  |  | 58.6 |  |  | 70.5 |  |  | (129.1 | ) |  | — |
Total liabilities |  | — |  |  | 2,329.0 |  |  | 2,608.4 |  |  | 132.1 |  |  | (2,400.3 | ) |  | 2,669.2 |
Total stockholders’ equity |  | 1,388.0 |  |  | 1,388.0 |  |  | 1,388.0 |  |  | 190.8 |  |  | (2,966.8 | ) |  | 1,388.0 |
Total liabilities and stockholders’ equity |  | $ | 1,388.0 |  |  | $ | 3,717.0 |  |  | $ | 3,996.4 |  |  | $ | 322.9 |  |  | $ | (5,367.1 | ) |  | $ | 4,057.2 |
|  | As of December 31, 2014
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 11.5 |  |  | $ | 8.8 |  |  | $ | 8.2 |  |  | $ | — |  |  | $ | 28.5 |
Receivables, less allowances |  | — |  |  | — |  |  | 186.5 |  |  | 31.0 |  |  | — |  |  | 217.5 |
Other current assets |  | — |  |  | 5.3 |  |  | 83.5 |  |  | 20.5 |  |  | — |  |  | 109.3 |
Total current assets |  | — |  |  | 16.8 |  |  | 278.8 |  |  | 59.7 |  |  | — |  |  | 355.3 |
Property and equipment, net |  | — |  |  | — |  |  | 683.3 |  |  | 99.6 |  |  | — |  |  | 782.9 |
Goodwill |  | — |  |  | — |  |  | 2,050.6 |  |  | 103.6 |  |  | — |  |  | 2,154.2 |
Intangible assets |  | — |  |  | — |  |  | 633.0 |  |  | 0.2 |  |  | — |  |  | 633.2 |
Investment in subsidiaries |  | 1,445.5 |  |  | 3,613.0 |  |  | 208.1 |  |  | — |  |  | (5,266.6 | ) |  | — |
Other assets |  | — |  |  | 31.2 |  |  | 59.5 |  |  | 7.3 |  |  | — |  |  | 98.0 |
Intercompany |  | — |  |  | — |  |  | 75.1 |  |  | 62.9 |  |  | (138.0 | ) |  | — |
Total assets |  | $ | 1,445.5 |  |  | $ | 3,661.0 |  |  | $ | 3,988.4 |  |  | $ | 333.3 |  |  | $ | (5,404.6 | ) |  | $ | 4,023.6 |
Total current liabilities |  | $ | — |  |  | $ | 17.9 |  |  | $ | 219.1 |  |  | $ | 18.2 |  |  | $ | — |  |  | $ | 255.2 |
Long-term debt |  | — |  |  | 2,197.6 |  |  | 0.7 |  |  | — |  |  | — |  |  | 2,198.3 |
Deferred income tax liabilities, net |  | — |  |  | — |  |  | — |  |  | 17.2 |  |  | — |  |  | 17.2 |
Asset retirement obligation |  | — |  |  | — |  |  | 28.3 |  |  | 8.3 |  |  | — |  |  | 36.6 |
Deficit in excess of investment of subsidiaries |  | — |  |  | — |  |  | 2,167.5 |  |  | — |  |  | (2,167.5 | ) |  | — |
Other liabilities |  | — |  |  | — |  |  | 64.4 |  |  | 6.4 |  |  | — |  |  | 70.8 |
Intercompany |  | — |  |  | — |  |  | 62.9 |  |  | 75.1 |  |  | (138.0 | ) |  | — |
Total liabilities |  | — |  |  | 2,215.5 |  |  | 2,542.9 |  |  | 125.2 |  |  | (2,305.5 | ) |  | 2,578.1 |
Total stockholders’ equity |  | 1,445.5 |  |  | 1,445.5 |  |  | 1,445.5 |  |  | 208.1 |  |  | (3,099.1 | ) |  | 1,445.5 |
Total liabilities and stockholders’ equity |  | $ | 1,445.5 |  |  | $ | 3,661.0 |  |  | $ | 3,988.4 |  |  | $ | 333.3 |  |  | $ | (5,404.6 | ) |  | $ | 4,023.6 |
Condensed Income Statement |
|  | Three Months Ended March 31, 2015
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Billboard |  | $ | — |  |  | $ | — |  |  | $ | 221.1 |  |  | $ | 25.8 |  |  | $ | — |  |  | $ | 246.9 |
Transit and other |  | — |  |  | — |  |  | 92.8 |  |  | 4.2 |  |  | — |  |  | 97.0 |
Total revenues |  | — |  |  | — |  |  | 313.9 |  |  | 30.0 |  |  | — |  |  | 343.9 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | — |  |  | — |  |  | 176.3 |  |  | 22.5 |  |  | — |  |  | 198.8 |
Selling, general and administrative |  | 0.5 |  |  | — |  |  | 53.8 |  |  | 7.4 |  |  | — |  |  | 61.7 |
Restructuring charges |  | — |  |  | — |  |  | 0.6 |  |  | — |  |  | — |  |  | 0.6 |
Net (gain) loss on dispositions |  | — |  |  | — |  |  | (0.4 | ) |  | 0.1 |  |  | — |  |  | (0.3 | )
Depreciation |  | — |  |  | — |  |  | 23.5 |  |  | 5.2 |  |  | — |  |  | 28.7 |
Amortization |  | — |  |  | — |  |  | 26.8 |  |  | 1.0 |  |  | — |  |  | 27.8 |
Total expenses |  | 0.5 |  |  | — |  |  | 280.6 |  |  | 36.2 |  |  | — |  |  | 317.3 |
Operating income (loss) |  | (0.5 | ) |  | — |  |  | 33.3 |  |  | (6.2 | ) |  | — |  |  | 26.6 |
Interest income (expense), net |  | — |  |  | (27.8 | ) |  | — |  |  | — |  |  | — |  |  | (27.8 | )
Other income (expense), net |  | — |  |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Income (loss) before income tax benefit and equity in earnings of investee companies |  | (0.5 | ) |  | (27.8 | ) |  | 33.3 |  |  | (6.1 | ) |  | — |  |  | (1.1 | )
Income tax benefit |  | — |  |  | — |  |  | 0.3 |  |  | 1.1 |  |  | — |  |  | 1.4 |
Equity in earnings of investee companies, net of tax |  | 1.6 |  |  | 29.4 |  |  | (32.0 | ) |  | 0.3 |  |  | 1.5 |  |  | 0.8 |
Net income (loss) |  | $ | 1.1 |  |  | $ | 1.6 |  |  | $ | 1.6 |  |  | $ | (4.7 | ) |  | $ | 1.5 |  |  | $ | 1.1 |
Net income |  | $ | 1.1 |  |  | $ | 1.6 |  |  | $ | 1.6 |  |  | $ | (4.7 | ) |  | $ | 1.5 |  |  | $ | 1.1 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Cumulative translation adjustments |  | — |  |  | — |  |  | — |  |  | (13.3 | ) |  | — |  |  | (13.3 | )
Amortization of net actuarial loss |  | — |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Other comprehensive income (loss), net of tax, recognized from investee companies |  | (13.1 | ) |  | (13.1 | ) |  | (13.1 | ) |  | — |  |  | 39.3 |  |  | — |
Total other comprehensive income (loss), net of tax |  | (13.1 | ) |  | (13.1 | ) |  | (13.1 | ) |  | (13.1 | ) |  | 39.3 |  |  | (13.1 | )
Total comprehensive income (loss) |  | $ | (12.0 | ) |  | $ | (11.5 | ) |  | $ | (11.5 | ) |  | $ | (17.8 | ) |  | $ | 40.8 |  |  | $ | (12.0 | )
|  | Three Months Ended March 31, 2014
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Billboard |  | $ | — |  |  | $ | — |  |  | $ | 176.9 |  |  | $ | 28.2 |  |  | $ | — |  |  | $ | 205.1 |
Transit and other |  | — |  |  | — |  |  | 78.1 |  |  | 4.7 |  |  | — |  |  | 82.8 |
Total revenues |  | — |  |  | — |  |  | 255.0 |  |  | 32.9 |  |  | — |  |  | 287.9 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | — |  |  | — |  |  | 139.0 |  |  | 24.5 |  |  | — |  |  | 163.5 |
Selling, general and administrative |  | — |  |  | — |  |  | 43.3 |  |  | 7.3 |  |  | — |  |  | 50.6 |
Net gain on dispositions |  | — |  |  | — |  |  | (0.8 | ) |  | (0.1 | ) |  | — |  |  | (0.9 | )
Depreciation |  | — |  |  | — |  |  | 20.4 |  |  | 5.7 |  |  | — |  |  | 26.1 |
Amortization |  | — |  |  | — |  |  | 20.7 |  |  | 1.2 |  |  | — |  |  | 21.9 |
Total expenses |  | — |  |  | — |  |  | 222.6 |  |  | 38.6 |  |  | — |  |  | 261.2 |
Operating income |  | — |  |  | — |  |  | 32.4 |  |  | (5.7 | ) |  | — |  |  | 26.7 |
Interest income (expense), net |  | — |  |  | (12.4 | ) |  | — |  |  | (0.1 | ) |  | — |  |  | (12.5 | )
Other income (expense), net |  | — |  |  | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Income (loss) before provision for income taxes and equity in earnings of investee companies |  | — |  |  | (12.4 | ) |  | 32.4 |  |  | (6.3 | ) |  | — |  |  | 13.7 |
Provision for income taxes |  | — |  |  | — |  |  | (5.3 | ) |  | (0.6 | ) |  | — |  |  | (5.9 | )
Equity in earnings of investee companies, net of tax |  | 8.4 |  |  | 20.8 |  |  | (18.7 | ) |  | 0.1 |  |  | (10.0 | ) |  | 0.6 |
Net income (loss) |  | $ | 8.4 |  |  | $ | 8.4 |  |  | $ | 8.4 |  |  | $ | (6.8 | ) |  | $ | (10.0 | ) |  | $ | 8.4 |
Net income |  | $ | 8.4 |  |  | $ | 8.4 |  |  | $ | 8.4 |  |  | $ | (6.8 | ) |  | $ | (10.0 | ) |  | $ | 8.4 |
Other comprehensive income (loss), net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Cumulative translation adjustments |  | — |  |  | — |  |  | — |  |  | 1.8 |  |  | — |  |  | 1.8 |
Amortization of net actuarial loss |  | — |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Other comprehensive income (loss), net of tax, recognized from investee companies |  | 2.0 |  |  | 2.0 |  |  | 2.0 |  |  | — |  |  | (6.0 | ) |  | — |
Total other comprehensive income (loss), net of tax |  | 2.0 |  |  | 2.0 |  |  | 2.0 |  |  | 2.0 |  |  | (6.0 | ) |  | 2.0 |
Total comprehensive income (loss) |  | $ | 10.4 |  |  | $ | 10.4 |  |  | $ | 10.4 |  |  | $ | (4.8 | ) |  | $ | (16.0 | ) |  | $ | 10.4 |
Condensed Cash Flow Statement |
|  | Three Months Ended March 31, 2015
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash flow provided by (used for) operating activities |  | $ | (0.5 | ) |  | $ | (17.1 | ) |  | $ | 9.1 |  |  | $ | 14.3 |  |  | $ | — |  |  | $ | 5.8 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | — |  |  | (12.1 | ) |  | (1.0 | ) |  | — |  |  | (13.1 | )
Acquisitions |  | — |  |  | — |  |  | (9.9 | ) |  | — |  |  | — |  |  | (9.9 | )
Net proceeds from dispositions |  | — |  |  | — |  |  | 0.7 |  |  | — |  |  | — |  |  | 0.7 |
Net cash flow used for investing activities |  | — |  |  | — |  |  | (21.3 | ) |  | (1.0 | ) |  | — |  |  | (22.3 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term debt borrowings - new senior notes |  | — |  |  | 103.8 |  |  | — |  |  | — |  |  | — |  |  | 103.8 |
Proceeds from borrowings under revolving credit facility |  | — |  |  | 105.0 |  |  | — |  |  | — |  |  | — |  |  | 105.0 |
Repayments of borrowings under revolving credit facility |  | — |  |  | (105.0 | ) |  | — |  |  | — |  |  | — |  |  | (105.0 | )
Deferred financing costs |  | — |  |  | (2.2 | ) |  | — |  |  | — |  |  | — |  |  | (2.2 | )
Proceeds from stock option exercises |  | 2.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2.0 |
Taxes withheld for stock-based compensation |  | — |  |  | — |  |  | (3.0 | ) |  | — |  |  | — |  |  | (3.0 | )
Dividends |  | (54.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (54.9 | )
Intercompany |  | 53.4 |  |  | (75.6 | ) |  | 21.9 |  |  | 0.3 |  |  | — |  |  | — |
Other |  | — |  |  | — |  |  | (0.4 | ) |  | — |  |  | — |  |  | (0.4 | )
Net cash flow provided by financing activities |  | 0.5 |  |  | 26.0 |  |  | 18.5 |  |  | 0.3 |  |  | — |  |  | 45.3 |
Effect of exchange rate on cash and cash equivalents |  | — |  |  | — |  |  | — |  |  | (1.3 | ) |  | — |  |  | (1.3 | )
Net increase (decrease) in cash and cash equivalents |  | — |  |  | 8.9 |  |  | 6.3 |  |  | 12.3 |  |  | — |  |  | 27.5 |
Cash and cash equivalents at beginning of period |  | — |  |  | 11.5 |  |  | 8.8 |  |  | 8.2 |  |  | — |  |  | 28.5 |
Cash and cash equivalents at end of period |  | $ | — |  |  | $ | 20.4 |  |  | $ | 15.1 |  |  | $ | 20.5 |  |  | $ | — |  |  | $ | 56.0 |
|  | Three Months Ended March 31, 2014
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash flow provided by operating activities |  | $ | — |  |  | $ | — |  |  | $ | 5.8 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 7.8 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | — |  |  | (12.2 | ) |  | (3.5 | ) |  | — |  |  | (15.7 | )
Net proceeds from dispositions |  | — |  |  | — |  |  | 0.3 |  |  | 0.2 |  |  | — |  |  | 0.5 |
Net cash flow used for investing activities |  | — |  |  | — |  |  | (11.9 | ) |  | (3.3 | ) |  | — |  |  | (15.2 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term debt borrowings - term loan and senior notes |  | — |  |  | 1,598.0 |  |  | — |  |  | — |  |  | — |  |  | 1,598.0 |
Deferred financing costs |  | — |  |  | (24.3 | ) |  | — |  |  | — |  |  | — |  |  | (24.3 | )
Distribution of net debt proceeds to CBS |  | — |  |  | (1,523.8 | ) |  | — |  |  | — |  |  | — |  |  | (1,523.8 | )
Net cash (distribution to)/contribution from CBS |  | 2.4 |  |  | — |  |  | 39.8 |  |  | — |  |  | — |  |  | 42.2 |
Intercompany |  | (2.4 | ) |  | 20.5 |  |  | (11.7 | ) |  | (6.4 | ) |  | — |  |  | — |
Other |  | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | — |  |  | (0.1 | )
Net cash flow provided by (used for) financing activities |  | — |  |  | 70.4 |  |  | 28.0 |  |  | (6.4 | ) |  | — |  |  | 92.0 |
Effect of exchange rate on cash and cash equivalents |  | — |  |  | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Net increase (decrease) in cash and cash equivalents |  | — |  |  | 70.4 |  |  | 21.9 |  |  | (8.2 | ) |  | — |  |  | 84.1 |
Cash and cash equivalents at beginning of period |  | — |  |  | — |  |  | 2.1 |  |  | 27.7 |  |  | — |  |  | 29.8 |
Cash and cash equivalents at end of period |  | $ | — |  |  | $ | 70.4 |  |  | $ | 24.0 |  |  | $ | 19.5 |  |  | $ | — |  |  | $ | 113.9 |

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