XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Billboard $ 373.4 $ 371.6 $ 702.2 $ 692.2
Transit and other 103.9 97.2 183.6 172.4
Total revenues 477.3 468.8 885.8 864.6
Expenses:        
Operating 239.8 245.9 478.5 481.4
Selling, general and administrative 119.1 108.6 229.6 216.5
Net (gain) loss on dispositions (155.2) (0.1) (155.1) 0.2
Impairment charges 8.8 511.4 17.9 511.4
Depreciation 18.4 19.7 36.9 39.8
Amortization 17.3 21.5 34.9 43.3
Total expenses 248.2 907.0 642.7 1,292.6
Operating income (loss) 229.1 (438.2) 243.1 (428.0)
Interest expense, net (41.1) (39.7) (82.5) (77.4)
Loss on extinguishment of debt (1.2) 0.0 (1.2) 0.0
Other income, net 1.1 0.2 1.1 0.2
Income (loss) before provision for income taxes and equity in earnings of investee companies 187.9 (477.7) 160.5 (505.2)
Provision for income taxes (11.1) (0.4) (10.6) (0.8)
Equity in earnings of investee companies, net of tax 0.2 (0.3) 0.0 (1.1)
Net income (loss) before allocation to non-controlling interests 177.0 (478.4) 149.9 (507.1)
Net income attributable to non-controlling interests 0.2 0.5 0.3 0.7
Net income (loss) attributable to OUTFRONT Media Inc. $ 176.8 $ (478.9) [1] $ 149.6 $ (507.8) [1]
Net income (loss) per common share:        
Basic (in dollars per share) $ 1.05 $ (2.92) $ 0.88 $ (3.11)
Diluted (in dollars per share) $ 1.01 $ (2.92) $ 0.86 $ (3.11)
Weighted average shares outstanding:        
Basic (in shares) 165.9 165.0 165.7 164.8
Diluted (in shares) [2],[3] 174.5 165.0 174.2 164.8
[1] In 2024, Net income available for common stockholders for the calculation of diluted EPS.
[2] The potential impact of 7.8 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the three and six months ended June 30, 2023, were antidilutive.
[3] The potential impact of 0.9 million granted RSUs and PRSUs in the three months ended June 30, 2024, 2.5 million granted RSUs and PRSUs in the three months ended June 30, 2023, 1.0 million granted RSUs and PRSUs in the six months ended June 30, 2024, and 2.1 million granted RSUs and PRSUs in the six months ended June 30, 2023, were antidilutive.