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Condensed Consolidating Financial Information | 9 Months Ended
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Sep. 30, 2019
Condensed Consolidating Financial Information [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information We and our material existing and future direct and indirect 100% owned domestic subsidiaries (except Finance LLC and Outfront Media Capital Corporation, the borrowers under the Term Loan and the Revolving Credit Facility) guarantee the obligations under the Term Loan and the Revolving Credit Facility. Our senior unsecured notes are fully and unconditionally, and jointly and severally guaranteed on a senior unsecured basis by us and each of our direct and indirect wholly-owned domestic subsidiaries that guarantees the Term Loan and the Revolving Credit Facility (see Note 9. Debt to the Consolidated Financial Statements). The following condensed consolidating schedules present financial information on a combined basis in conformity with the SEC’s Regulation S-X, Rule 3-10 for: (i) OUTFRONT Media Inc. (the “Parent Company”); (ii) Finance LLC (the “Subsidiary Issuer”); (iii) the guarantor subsidiaries; (iv) the non-guarantor subsidiaries, including the SPV; (v) elimination entries necessary to consolidate the Parent Company and the Subsidiary Issuer, the guarantor subsidiaries and non-guarantor subsidiaries; and (vi) the Parent Company on a consolidated basis. Outfront Media Capital Corporation is a co-issuer finance subsidiary with no assets or liabilities, and therefore has not been included in the tables below.
|  | As of September 30, 2019
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 7.2 |  |  | $ | 1.3 |  |  | $ | 49.8 |  |  | $ | — |  |  | $ | 58.3 |
Receivables, less allowance |  | — |  |  | — |  |  | — |  |  | 339.9 |  |  | (49.2 | ) |  | 290.7 |
Other current assets |  | — |  |  | 1.2 |  |  | 190.3 |  |  | 69.2 |  |  | (149.7 | ) |  | 111.0 |
Total current assets |  | — |  |  | 8.4 |  |  | 191.6 |  |  | 458.9 |  |  | (198.9 | ) |  | 460.0 |
Property and equipment, net |  | — |  |  | — |  |  | 616.7 |  |  | 49.1 |  |  | — |  |  | 665.8 |
Goodwill |  | — |  |  | — |  |  | 2,059.9 |  |  | 22.9 |  |  | — |  |  | 2,082.8 |
Intangible assets |  | — |  |  | — |  |  | 476.3 |  |  | 72.3 |  |  | — |  |  | 548.6 |
Operating lease assets |  | — |  |  | — |  |  | 1,294.4 |  |  | 113.7 |  |  | — |  |  | 1,408.1 |
Investment in subsidiaries |  | 1,093.0 |  |  | 3,325.2 |  |  | 331.6 |  |  | — |  |  | (4,749.8 | ) |  | — |
Prepaid MTA equipment deployment costs |  | — |  |  | — |  |  | 83.0 |  |  | — |  |  | — |  |  | 83.0 |
Other assets |  | — |  |  | 1.5 |  |  | 67.4 |  |  | 3.7 |  |  | — |  |  | 72.6 |
Intercompany |  | — |  |  | — |  |  | 81.0 |  |  | 87.7 |  |  | (168.7 | ) |  | — |
Total assets |  | $ | 1,093.0 |  |  | $ | 3,335.1 |  |  | $ | 5,201.9 |  |  | $ | 808.3 |  |  | $ | (5,117.4 | ) |  | $ | 5,320.9 |
Total current liabilities |  | $ | — |  |  | $ | 24.0 |  |  | $ | 579.6 |  |  | $ | 240.4 |  |  | $ | (198.9 | ) |  | $ | 645.1 |
Long-term debt, net |  | — |  |  | 2,212.5 |  |  | — |  |  | — |  |  | — |  |  | 2,212.5 |
Deferred income tax liabilities, net |  | — |  |  | — |  |  | — |  |  | 18.7 |  |  | — |  |  | 18.7 |
Operating lease liability |  | — |  |  | — |  |  | 1,140.4 |  |  | 97.3 |  |  | — |  |  | 1,237.7 |
Asset retirement obligation |  | — |  |  | — |  |  | 30.6 |  |  | 4.4 |  |  | — |  |  | 35.0 |
Deficit in excess of investment of subsidiaries |  | — |  |  | — |  |  | 2,232.2 |  |  | — |  |  | (2,232.2 | ) |  | — |
Other liabilities |  | — |  |  | 5.6 |  |  | 38.4 |  |  | 1.7 |  |  | — |  |  | 45.7 |
Intercompany |  | — |  |  | — |  |  | 87.7 |  |  | 81.0 |  |  | (168.7 | ) |  | — |
Total liabilities |  | — |  |  | 2,242.1 |  |  | 4,108.9 |  |  | 443.5 |  |  | (2,599.8 | ) |  | 4,194.7 |
Total stockholders’ equity |  | 1,093.0 |  |  | 1,093.0 |  |  | 1,093.0 |  |  | 331.6 |  |  | (2,517.6 | ) |  | 1,093.0 |
Non-controlling interests |  | — |  |  | — |  |  | — |  |  | 33.2 |  |  | — |  |  | 33.2 |
Total equity |  | 1,093.0 |  |  | 1,093.0 |  |  | 1,093.0 |  |  | 364.8 |  |  | (2,517.6 | ) |  | 1,126.2 |
Total liabilities and equity |  | $ | 1,093.0 |  |  | $ | 3,335.1 |  |  | $ | 5,201.9 |  |  | $ | 808.3 |  |  | $ | (5,117.4 | ) |  | $ | 5,320.9 |
|  | As of December 31, 2018
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Current assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 12.0 |  |  | $ | — |  |  | $ | 40.7 |  |  | $ | — |  |  | $ | 52.7 |
Receivables, less allowance |  | — |  |  | — |  |  | 52.7 |  |  | 232.1 |  |  | (19.9 | ) |  | 264.9 |
Other current assets |  | — |  |  | 1.0 |  |  | 176.3 |  |  | 81.5 |  |  | (146.9 | ) |  | 111.9 |
Total current assets |  | — |  |  | 13.0 |  |  | 229.0 |  |  | 354.3 |  |  | (166.8 | ) |  | 429.5 |
Property and equipment, net |  | — |  |  | — |  |  | 604.3 |  |  | 48.6 |  |  | — |  |  | 652.9 |
Goodwill |  | — |  |  | — |  |  | 2,059.9 |  |  | 19.8 |  |  | — |  |  | 2,079.7 |
Intangible assets |  | — |  |  | — |  |  | 478.4 |  |  | 58.8 |  |  | — |  |  | 537.2 |
Investment in subsidiaries |  | 1,102.8 |  |  | 3,257.5 |  |  | 261.9 |  |  | — |  |  | (4,622.2 | ) |  | — |
Prepaid MTA equipment deployment costs |  | — |  |  | — |  |  | 60.6 |  |  | — |  |  | — |  |  | 60.6 |
Other assets |  | — |  |  | 2.3 |  |  | 63.4 |  |  | 3.1 |  |  | — |  |  | 68.8 |
Intercompany |  | — |  |  | — |  |  | 81.0 |  |  | 100.7 |  |  | (181.7 | ) |  | — |
Total assets |  | $ | 1,102.8 |  |  | $ | 3,272.8 |  |  | $ | 3,838.5 |  |  | $ | 585.3 |  |  | $ | (4,970.7 | ) |  | $ | 3,828.7 |
Total current liabilities |  | $ | — |  |  | $ | 18.0 |  |  | $ | 375.5 |  |  | $ | 175.9 |  |  | $ | (166.8 | ) |  | $ | 402.6 |
Long-term debt, net |  | — |  |  | 2,149.6 |  |  | — |  |  | — |  |  | — |  |  | 2,149.6 |
Deferred income tax liabilities, net |  | — |  |  | — |  |  | — |  |  | 17.0 |  |  | — |  |  | 17.0 |
Asset retirement obligation |  | — |  |  | — |  |  | 29.9 |  |  | 4.3 |  |  | — |  |  | 34.2 |
Deficit in excess of investment of subsidiaries |  | — |  |  | — |  |  | 2,154.7 |  |  | — |  |  | (2,154.7 | ) |  | — |
Other liabilities |  | — |  |  | 2.4 |  |  | 74.9 |  |  | 2.7 |  |  | — |  |  | 80.0 |
Intercompany |  | — |  |  | — |  |  | 100.7 |  |  | 81.0 |  |  | (181.7 | ) |  | — |
Total liabilities |  | — |  |  | 2,170.0 |  |  | 2,735.7 |  |  | 280.9 |  |  | (2,503.2 | ) |  | 2,683.4 |
Total stockholders’ equity |  | 1,102.8 |  |  | 1,102.8 |  |  | 1,102.8 |  |  | 261.9 |  |  | (2,467.5 | ) |  | 1,102.8 |
Non-controlling interests |  | — |  |  | — |  |  | — |  |  | 42.5 |  |  | — |  |  | 42.5 |
Total equity |  | 1,102.8 |  |  | 1,102.8 |  |  | 1,102.8 |  |  | 304.4 |  |  | (2,467.5 | ) |  | 1,145.3 |
Total liabilities and equity |  | $ | 1,102.8 |  |  | $ | 3,272.8 |  |  | $ | 3,838.5 |  |  | $ | 585.3 |  |  | $ | (4,970.7 | ) |  | $ | 3,828.7 |
|  | Three Months Ended September 30, 2019
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Billboard |  | $ | — |  |  | $ | — |  |  | $ | 290.8 |  |  | $ | 21.2 |  |  | $ | — |  |  | $ | 312.0 |
Transit and other |  | — |  |  | — |  |  | 147.1 |  |  | 3.4 |  |  | — |  |  | 150.5 |
Total revenues |  | — |  |  | — |  |  | 437.9 |  |  | 24.6 |  |  | — |  |  | 462.5 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | — |  |  | — |  |  | 231.9 |  |  | 13.6 |  |  | — |  |  | 245.5 |
Selling, general and administrative |  | 0.4 |  |  | 0.1 |  |  | 80.3 |  |  | 1.5 |  |  | — |  |  | 82.3 |
Net gain on dispositions |  | — |  |  | — |  |  | (1.9 | ) |  | — |  |  | — |  |  | (1.9 | )
Depreciation |  | — |  |  | — |  |  | 19.8 |  |  | 2.6 |  |  | — |  |  | 22.4 |
Amortization |  | — |  |  | — |  |  | 26.3 |  |  | 2.4 |  |  | — |  |  | 28.7 |
Total expenses |  | 0.4 |  |  | 0.1 |  |  | 356.4 |  |  | 20.1 |  |  | — |  |  | 377.0 |
Operating income (loss) |  | (0.4 | ) |  | (0.1 | ) |  | 81.5 |  |  | 4.5 |  |  | — |  |  | 85.5 |
Interest expense, net |  | — |  |  | (31.9 | ) |  | (0.7 | ) |  | (1.3 | ) |  | — |  |  | (33.9 | )
Loss on extinguishment of debt |  | — |  |  | (11.0 | ) |  | — |  |  | — |  |  | — |  |  | (11.0 | )
Income (loss) before provision for income taxes and equity in earnings of investee companies |  | (0.4 | ) |  | (43.0 | ) |  | 80.8 |  |  | 3.2 |  |  | — |  |  | 40.6 |
Provision for income taxes |  | — |  |  | — |  |  | (1.8 | ) |  | (1.5 | ) |  | — |  |  | (3.3 | )
Equity in earnings of investee companies, net of tax |  | 39.1 |  |  | 82.1 |  |  | (39.9 | ) |  | 0.3 |  |  | (80.2 | ) |  | 1.4 |
Net income |  | $ | 38.7 |  |  | $ | 39.1 |  |  | $ | 39.1 |  |  | $ | 2.0 |  |  | $ | (80.2 | ) |  | $ | 38.7 |
Net income |  | $ | 38.7 |  |  | $ | 39.1 |  |  | $ | 39.1 |  |  | $ | 2.0 |  |  | $ | (80.2 | ) |  | $ | 38.7 |
Total other comprehensive loss, net of tax |  | (1.0 | ) |  | (1.0 | ) |  | (1.0 | ) |  | (0.7 | ) |  | 2.7 |  |  | (1.0 | )
Total comprehensive income |  | $ | 37.7 |  |  | $ | 38.1 |  |  | $ | 38.1 |  |  | $ | 1.3 |  |  | $ | (77.5 | ) |  | $ | 37.7 |
|  | Three Months Ended September 30, 2018
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Billboard |  | $ | — |  |  | $ | — |  |  | $ | 271.1 |  |  | $ | 19.5 |  |  | $ | — |  |  | $ | 290.6 |
Transit and other |  | — |  |  | — |  |  | 120.3 |  |  | 3.3 |  |  | — |  |  | 123.6 |
Total revenues |  | — |  |  | — |  |  | 391.4 |  |  | 22.8 |  |  | — |  |  | 414.2 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | — |  |  | — |  |  | 202.6 |  |  | 12.7 |  |  | — |  |  | 215.3 |
Selling, general and administrative |  | 0.4 |  |  | 0.1 |  |  | 71.1 |  |  | 2.8 |  |  | — |  |  | 74.4 |
Restructuring charges |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Net gain on dispositions |  | — |  |  | — |  |  | (1.1 | ) |  | (0.2 | ) |  | — |  |  | (1.3 | )
Depreciation |  | — |  |  | — |  |  | 18.1 |  |  | 2.9 |  |  | — |  |  | 21.0 |
Amortization |  | — |  |  | — |  |  | 23.4 |  |  | 2.4 |  |  | — |  |  | 25.8 |
Total expenses |  | 0.4 |  |  | 0.1 |  |  | 314.2 |  |  | 20.6 |  |  | — |  |  | 335.3 |
Operating income (loss) |  | (0.4 | ) |  | (0.1 | ) |  | 77.2 |  |  | 2.2 |  |  | — |  |  | 78.9 |
Interest expense, net |  | — |  |  | (30.1 | ) |  | (1.0 | ) |  | (0.9 | ) |  | — |  |  | (32.0 | )
Other expense, net |  | — |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies |  | (0.4 | ) |  | (30.2 | ) |  | 76.2 |  |  | 1.5 |  |  | — |  |  | 47.1 |
Benefit (provision) for income taxes |  | — |  |  | — |  |  | (1.6 | ) |  | 0.6 |  |  | — |  |  | (1.0 | )
Equity in earnings of investee companies, net of tax |  | 47.2 |  |  | 77.4 |  |  | (27.4 | ) |  | 0.4 |  |  | (96.9 | ) |  | 0.7 |
Net income |  | $ | 46.8 |  |  | $ | 47.2 |  |  | $ | 47.2 |  |  | $ | 2.5 |  |  | $ | (96.9 | ) |  | $ | 46.8 |
Net income |  | $ | 46.8 |  |  | $ | 47.2 |  |  | $ | 47.2 |  |  | $ | 2.5 |  |  | $ | (96.9 | ) |  | $ | 46.8 |
Total other comprehensive income, net of tax |  | 1.7 |  |  | 1.7 |  |  | 1.7 |  |  | 1.7 |  |  | (5.1 | ) |  | 1.7 |
Total comprehensive income |  | $ | 48.5 |  |  | $ | 48.9 |  |  | $ | 48.9 |  |  | $ | 4.2 |  |  | $ | (102.0 | ) |  | $ | 48.5 |
|  | Nine Months Ended September 30, 2019
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Billboard |  | $ | — |  |  | $ | — |  |  | $ | 811.2 |  |  | $ | 57.6 |  |  | $ | — |  |  | $ | 868.8 |
Transit and other |  | — |  |  | — |  |  | 415.9 |  |  | 9.4 |  |  | — |  |  | 425.3 |
Total revenues |  | — |  |  | — |  |  | 1,227.1 |  |  | 67.0 |  |  | — |  |  | 1,294.1 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | — |  |  | — |  |  | 663.9 |  |  | 38.8 |  |  | — |  |  | 702.7 |
Selling, general and administrative |  | 1.2 |  |  | 0.2 |  |  | 227.6 |  |  | 8.1 |  |  | — |  |  | 237.1 |
Restructuring charges |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Net gain on dispositions |  | — |  |  | — |  |  | (3.1 | ) |  | 0.1 |  |  | — |  |  | (3.0 | )
Depreciation |  | — |  |  | — |  |  | 57.0 |  |  | 7.9 |  |  | — |  |  | 64.9 |
Amortization |  | — |  |  | — |  |  | 74.1 |  |  | 6.9 |  |  | — |  |  | 81.0 |
Total expenses |  | 1.2 |  |  | 0.2 |  |  | 1,019.8 |  |  | 61.8 |  |  | — |  |  | 1,083.0 |
Operating income (loss) |  | (1.2 | ) |  | (0.2 | ) |  | 207.3 |  |  | 5.2 |  |  | — |  |  | 211.1 |
Interest expense, net |  | — |  |  | (94.1 | ) |  | (2.4 | ) |  | (4.0 | ) |  | — |  |  | (100.5 | )
Loss on extinguishment of debt |  | — |  |  | (11.0 | ) |  | — |  |  | — |  |  | — |  |  | (11.0 | )
Other income, net |  | — |  |  | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Income (loss) before provision for income taxes and equity in earnings of investee companies |  | (1.2 | ) |  | (105.3 | ) |  | 204.9 |  |  | 1.3 |  |  | — |  |  | 99.7 |
Provision for income taxes |  | — |  |  | — |  |  | (8.4 | ) |  | (0.1 | ) |  | — |  |  | (8.5 | )
Equity in earnings of investee companies, net of tax |  | 96.3 |  |  | 201.6 |  |  | (100.2 | ) |  | 0.9 |  |  | (194.7 | ) |  | 3.9 |
Net income |  | $ | 95.1 |  |  | $ | 96.3 |  |  | $ | 96.3 |  |  | $ | 2.1 |  |  | $ | (194.7 | ) |  | $ | 95.1 |
Net income |  | $ | 95.1 |  |  | $ | 96.3 |  |  | $ | 96.3 |  |  | $ | 2.1 |  |  | $ | (194.7 | ) |  | $ | 95.1 |
Total other comprehensive income, net of tax |  | 3.3 |  |  | 3.3 |  |  | 3.3 |  |  | 6.4 |  |  | (13.0 | ) |  | 3.3 |
Total comprehensive income |  | $ | 98.4 |  |  | $ | 99.6 |  |  | $ | 99.6 |  |  | $ | 8.5 |  |  | $ | (207.7 | ) |  | $ | 98.4 |
|  | Nine Months Ended September 30, 2018
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Billboard |  | $ | — |  |  | $ | — |  |  | $ | 759.6 |  |  | $ | 50.7 |  |  | $ | — |  |  | $ | 810.3 |
Transit and other |  | — |  |  | — |  |  | 334.4 |  |  | 9.1 |  |  | — |  |  | 343.5 |
Total revenues |  | — |  |  | — |  |  | 1,094.0 |  |  | 59.8 |  |  | — |  |  | 1,153.8 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Operating |  | — |  |  | — |  |  | 585.3 |  |  | 39.1 |  |  | — |  |  | 624.4 |
Selling, general and administrative |  | 1.2 |  |  | 0.2 |  |  | 202.1 |  |  | 5.6 |  |  | — |  |  | 209.1 |
Restructuring charges |  | — |  |  | — |  |  | 1.4 |  |  | — |  |  | — |  |  | 1.4 |
Net gain on dispositions |  | — |  |  | — |  |  | (4.0 | ) |  | (0.2 | ) |  | — |  |  | (4.2 | )
Impairment charge |  | — |  |  | — |  |  | — |  |  | 42.9 |  |  | — |  |  | 42.9 |
Depreciation |  | — |  |  | — |  |  | 53.6 |  |  | 9.8 |  |  | — |  |  | 63.4 |
Amortization |  | — |  |  | — |  |  | 67.0 |  |  | 6.3 |  |  | — |  |  | 73.3 |
Total expenses |  | 1.2 |  |  | 0.2 |  |  | 905.4 |  |  | 103.5 |  |  | — |  |  | 1,010.3 |
Operating income (loss) |  | (1.2 | ) |  | (0.2 | ) |  | 188.6 |  |  | (43.7 | ) |  | — |  |  | 143.5 |
Interest expense, net |  | — |  |  | (88.1 | ) |  | (2.8 | ) |  | (2.1 | ) |  | — |  |  | (93.0 | )
Other expense, net |  | — |  |  | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies |  | (1.2 | ) |  | (88.3 | ) |  | 185.8 |  |  | (45.9 | ) |  | — |  |  | 50.4 |
Benefit (provision) for income taxes |  | — |  |  | — |  |  | (4.1 | ) |  | 1.7 |  |  | — |  |  | (2.4 | )
Equity in earnings of investee companies, net of tax |  | 51.9 |  |  | 140.2 |  |  | (129.8 | ) |  | 0.8 |  |  | (60.4 | ) |  | 2.7 |
Net income (loss) |  | $ | 50.7 |  |  | $ | 51.9 |  |  | $ | 51.9 |  |  | $ | (43.4 | ) |  | $ | (60.4 | ) |  | $ | 50.7 |
Net income (loss) |  | $ | 50.7 |  |  | $ | 51.9 |  |  | $ | 51.9 |  |  | $ | (43.4 | ) |  | $ | (60.4 | ) |  | $ | 50.7 |
Total other comprehensive loss, net of tax |  | (9.2 | ) |  | (9.2 | ) |  | (9.2 | ) |  | (9.2 | ) |  | 27.6 |  |  | (9.2 | )
Total comprehensive income (loss) |  | $ | 41.5 |  |  | $ | 42.7 |  |  | $ | 42.7 |  |  | $ | (52.6 | ) |  | $ | (32.8 | ) |  | $ | 41.5 |
|  | Nine Months Ended September 30, 2019
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash flow provided by (used for) operating activities |  | $ | (1.2 | ) |  | $ | (84.4 | ) |  | $ | 227.4 |  |  | $ | 20.3 |  |  | $ | — |  |  | $ | 162.1 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | — |  |  | (59.8 | ) |  | (5.6 | ) |  | — |  |  | (65.4 | )
Acquisitions |  | — |  |  | — |  |  | (60.7 | ) |  | — |  |  | — |  |  | (60.7 | )
MTA franchise rights |  | — |  |  | — |  |  | (16.9 | ) |  | — |  |  | — |  |  | (16.9 | )
Net proceeds from dispositions |  | — |  |  | — |  |  | 4.9 |  |  | — |  |  | — |  |  | 4.9 |
Net cash flow used for investing activities |  | — |  |  | — |  |  | (132.5 | ) |  | (5.6 | ) |  | — |  |  | (138.1 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term debt borrowings |  | — |  |  | 760.0 |  |  | — |  |  | — |  |  | — |  |  | 760.0 |
Repayments of long-term debt borrowings |  | — |  |  | (695.0 | ) |  | — |  |  | — |  |  | — |  |  | (695.0 | )
Proceeds from borrowings under short-term debt facilities |  | — |  |  | — |  |  | 90.0 |  |  | 190.0 |  |  | — |  |  | 280.0 |
Repayments of borrowings under short-term debt facilities |  | — |  |  | — |  |  | (75.0 | ) |  | (155.0 | ) |  | — |  |  | (230.0 | )
Payments of deferred financing costs |  | — |  |  | (9.3 | ) |  | (0.2 | ) |  | — |  |  | — |  |  | (9.5 | )
Payment of debt extinguishment charges |  | — |  |  | (7.4 | ) |  | — |  |  | — |  |  | — |  |  | (7.4 | )
Proceeds from shares issued under the ATM Program |  | 50.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 50.9 |
Taxes withheld for stock-based compensation |  | — |  |  | — |  |  | (7.7 | ) |  | — |  |  | — |  |  | (7.7 | )
Dividends |  | (154.5 | ) |  | — |  |  | — |  |  | (1.5 | ) |  | — |  |  | (156.0 | )
Intercompany |  | 104.8 |  |  | 31.3 |  |  | (96.7 | ) |  | (39.4 | ) |  | — |  |  | — |
Net cash flow provided by (used for) financing activities |  | 1.2 |  |  | 79.6 |  |  | (89.6 | ) |  | (5.9 | ) |  | — |  |  | (14.7 | )
Effect of exchange rate changes on cash, cash equivalents and restricted cash |  | — |  |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Net increase (decrease) in cash, cash equivalents and restricted cash |  | — |  |  | (4.8 | ) |  | 5.3 |  |  | 9.1 |  |  | — |  |  | 9.6 |
Cash, cash equivalents and restricted cash at beginning of period |  | — |  |  | 12.0 |  |  | 1.4 |  |  | 40.7 |  |  | — |  |  | 54.1 |
Cash, cash equivalents and restricted cash at end of period |  | $ | — |  |  | $ | 7.2 |  |  | $ | 6.7 |  |  | $ | 49.8 |  |  | $ | — |  |  | $ | 63.7 |
|  | Nine Months Ended September 30, 2018
(in millions) |  | Parent Company |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash flow provided by (used for) operating activities |  | $ | (1.2 | ) |  | $ | (74.5 | ) |  | $ | 216.2 |  |  | $ | (3.1 | ) |  | $ | — |  |  | $ | 137.4 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | — |  |  | (52.5 | ) |  | (9.6 | ) |  | — |  |  | (62.1 | )
Acquisitions |  | — |  |  | — |  |  | (5.6 | ) |  | — |  |  | — |  |  | (5.6 | )
MTA franchise rights |  | — |  |  | — |  |  | (9.4 | ) |  | — |  |  | — |  |  | (9.4 | )
Net proceeds from dispositions |  | — |  |  | — |  |  | 5.7 |  |  | 0.3 |  |  | — |  |  | 6.0 |
Net cash flow used for investing activities |  | — |  |  | — |  |  | (61.8 | ) |  | (9.3 | ) |  | — |  |  | (71.1 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from long-term debt borrowings |  | — |  |  | 89.0 |  |  | — |  |  | — |  |  | — |  |  | 89.0 |
Repayments of long-term debt borrowings |  | — |  |  | (79.0 | ) |  | — |  |  | — |  |  | — |  |  | (79.0 | )
Proceeds from borrowings under short-term debt facilities |  | — |  |  | — |  |  | 75.0 |  |  | 125.0 |  |  | — |  |  | 200.0 |
Repayments of borrowings under short-term debt facilities |  | — |  |  | — |  |  | — |  |  | (105.0 | ) |  | — |  |  | (105.0 | )
Payments of deferred financing costs |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | ) |  | — |  |  | (0.2 | )
Taxes withheld for stock-based compensation |  | — |  |  | — |  |  | (8.2 | ) |  | — |  |  | — |  |  | (8.2 | )
Dividends |  | (150.9 | ) |  | — |  |  | — |  |  | (2.0 | ) |  | — |  |  | (152.9 | )
Intercompany |  | 152.1 |  |  | 74.3 |  |  | (216.2 | ) |  | (10.2 | ) |  | — |  |  | — |
Net cash flow provided by (used for) financing activities |  | 1.2 |  |  | 84.2 |  |  | (149.4 | ) |  | 7.7 |  |  | — |  |  | (56.3 | )
Effect of exchange rate changes on cash, cash equivalents and restricted cash |  | — |  |  | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Net increase (decrease) in cash, cash equivalents and restricted cash |  | — |  |  | 9.7 |  |  | 5.0 |  |  | (4.9 | ) |  | — |  |  | 9.8 |
Cash, cash equivalents and restricted cash at beginning of period |  | — |  |  | 10.2 |  |  | 3.7 |  |  | 34.4 |  |  | — |  |  | 48.3 |
Cash, cash equivalents and restricted cash at end of period |  | $ | — |  |  | $ | 19.9 |  |  | $ | 8.7 |  |  | $ | 29.5 |  |  | $ | — |  |  | $ | 58.1 |

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- Definition Condensed Consolidating Financial Information [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
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