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Segment Information
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We currently manage our operations through one operating segment, U.S. Billboard and Transit, which is included in our U.S. Media reportable segment. Prior to the Transaction, our Canadian operations comprised our International operating segment, which did not meet the criteria to be a reportable segment and accordingly, was included in Other. Historical operating results of our Canadian operations are included in Other through the date of sale.

The following tables set forth our financial performance by segment.
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2024202320242023
Revenues:
U.S. Media$460.9 $443.0 $850.5 $819.4 
Other16.4 25.8 35.3 45.2 
Total revenues$477.3 $468.8 $885.8 $864.6 
We present Operating income (loss) before Depreciation, Amortization, Net (gain) loss on dispositions, Stock-based compensation and Impairment charges (“Adjusted OIBDA”) as the primary measure of profit and loss for our operating segments.
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2024202320242023
Net income (loss) before allocation to non-controlling interests$177.0 $(478.4)$149.9 $(507.1)
Provision for income taxes11.1 0.4 10.6 0.8 
Equity in earnings of investee companies, net of tax(0.2)0.3 — 1.1 
Interest expense, net41.1 39.7 82.5 77.4 
Loss on extinguishment of debt1.2 — 1.2 — 
Other income, net(1.1)(0.2)(1.1)(0.2)
Operating income (loss)229.1 (438.2)243.1 (428.0)
Net (gain) loss on dispositions(155.2)(0.1)(155.1)0.2 
Impairment charges8.8 511.4 17.9 511.4 
Depreciation and amortization35.7 41.2 71.8 83.1 
Stock-based compensation7.6 7.9 14.8 15.7 
Total Adjusted OIBDA$126.0 $122.2 $192.5 $182.4 
Adjusted OIBDA:
U.S. Media$140.5 $128.1 $222.3 $200.2 
Other1.6 6.7 2.5 7.8 
Corporate(16.1)(12.6)(32.3)(25.6)
Total Adjusted OIBDA$126.0 $122.2 $192.5 $182.4 
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2024202320242023
Operating income (loss):
U.S. Media$95.9 $(420.9)$132.4 $(387.6)
Other156.9 3.2 157.8 0.9 
Corporate(23.7)(20.5)(47.1)(41.3)
Total operating income (loss)$229.1 $(438.2)$243.1 $(428.0)
Net gain (loss) on dispositions:
U.S. Media$0.1 $(0.1)$0.2 $0.2 
Other(155.3)— (155.3)— 
Total gain (loss) on dispositions$(155.2)$(0.1)$(155.1)$0.2 
Impairment charges (a)(b):
U.S. Media$8.8 $511.4 $17.9 $511.4 
Total impairment charges$8.8 $511.4 $17.9 $511.4 
Depreciation and amortization:
U.S. Media$35.7 $37.7 $71.8 $76.2 
Other— 3.5 — 6.9 
Total depreciation and amortization$35.7 $41.2 $71.8 $83.1 
Capital expenditures:
U.S. Media$18.5 $19.6 $36.1 $41.6 
Other5.4 2.7 6.2 3.3 
Total capital expenditures$23.9 $22.3 $42.3 $44.9 
(a)In 2024, Impairment charges related to the long-term outlook of our U.S. Transit and Other reporting unit (see Note 4. Intangible Assets).
(b)In 2023, Impairment charges related to the long-term outlook of our U.S. Transit and Other reporting unit (see Note 4. Intangible Assets) and an other-than-temporary decline in fair value of a cost-method investment.
As of
(in millions)June 30,
2024		December 31, 2023
Assets:
U.S. Media$5,194.6 $5,297.2 
Other(a)
12.3 259.7 
Corporate45.3 26.0 
Total assets$5,252.2 $5,582.9 
(a)As of December 31, 2023, includes amounts reclassified as Assets held for sale on the Consolidated Statement of Financial Position. (See Note 11. Acquisitions and Dispositions: Dispositions: Canadian Business.)
As of
(in millions)June 30,
2024		December 31, 2023
Long-lived assets(a):
United States$4,891.3 $4,962.6 
Canada(b)
— 214.3 
Total assets$4,891.3 $5,176.9 
(a)Reflects total assets less current assets, investments and non-current deferred tax assets.
(b)As of December 31, 2023, includes amounts reclassified as Assets held for sale on the Consolidated Statement of Financial Position. (See Note 11. Acquisitions and Dispositions: Dispositions: Canadian Business.)