XML 37 R27.htm IDEA: XBRL DOCUMENT v3.22.1
Segment Information
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
We currently manage our operations through two operating segments—U.S. Billboard and Transit, which is included in our U.S. Media reportable segment, and International. International does not meet the criteria to be a reportable segment and accordingly, is included in Other.

The following tables set forth our financial performance by segment.
Three Months Ended
March 31,
(in millions)20222021
Revenues:
U.S. Media$354.2 $245.4 
Other19.3 13.8 
Total revenues$373.5 $259.2 

We present Operating income (loss) before Depreciation, Amortization, Net gain on dispositions, Stock-based compensation and Restructuring charges (“Adjusted OIBDA”) as the primary measure of profit and loss for our operating segments.
Three Months Ended
March 31,
(in millions)20222021
Net income (loss) before allocation to non-controlling interests$0.1 $(67.6)
Benefit for income taxes(2.1)(4.7)
Equity in earnings of investee companies, net of tax(0.3)0.4 
Interest expense, net30.7 34.6 
Loss on extinguishment of debt— 6.3 
Other loss, net0.1 — 
Operating income (loss)28.5 (31.0)
Net gain on dispositions(0.3)(0.3)
Depreciation and amortization34.1 36.4 
Stock-based compensation7.9 6.0 
Total Adjusted OIBDA$70.2 $11.1 
Adjusted OIBDA:
U.S. Media$80.1 $24.6 
Other(a)
0.6 (2.0)
Corporate(10.5)(11.5)
Total Adjusted OIBDA$70.2 $11.1 
Three Months Ended
March 31,
(in millions)20222021
Operating income (loss):
U.S. Media$49.3 $(8.6)
Other(2.4)(4.9)
Corporate(18.4)(17.5)
Total operating income (loss)$28.5 $(31.0)
Net gain on dispositions:
U.S. Media$(0.3)$(0.3)
Total gain on dispositions$(0.3)$(0.3)
Depreciation and amortization:
U.S. Media$31.1 $33.5 
Other3.0 2.9 
Total depreciation and amortization$34.1 $36.4 
Capital expenditures:
U.S. Media$16.1 $8.9 
Other0.8 0.5 
Total capital expenditures$16.9 $9.4 

As of
(in millions)March 31,
2022		December 31, 2021
Assets:
U.S. Media$5,275.6 $5,280.7 
Other250.0 248.1 
Corporate317.4 395.9 
Total assets$5,843.0 $5,924.7