Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 07, 2014 | Feb. 07, 2014 |
Common Class A [Member] | Common Class B [Member] | ||
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'Clear Channel Outdoor Holdings, Inc. | ' | ' |
Entity Central Index Key | '0001334978 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Well Known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | $219.10 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 44,284,030 | 315,000,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $314,545 | $561,979 |
Accounts receivable, net of allowance | 712,135 | 754,658 |
Intercompany receivables | 0 | 0 |
Prepaid expenses | 143,415 | 151,597 |
Other current assets | 68,333 | 41,112 |
Total Current Assets | 1,238,428 | 1,509,346 |
PROPERTY, PLANT AND EQUIPMENT | ' | ' |
Structures, net | 1,765,510 | 1,890,693 |
Other property, plant and equipment, net | 315,588 | 317,051 |
INTANGIBLE ASSETS AND GOODWILL | ' | ' |
Indefinite-lived intangibles | 1,067,783 | 1,070,720 |
Other intangibles, net | 487,926 | 557,478 |
Goodwill | 850,134 | 862,248 |
OTHER ASSETS | ' | ' |
Intercompany notes receivable | 0 | 0 |
Due from Clear Channel Communications | 879,108 | 729,157 |
Other assets | 154,915 | 169,089 |
Total Assets | 6,759,392 | 7,105,782 |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 85,882 | 95,515 |
Accrued expenses | 563,766 | 538,499 |
Intercompany payable | 0 | 0 |
Deferred income | 107,943 | 107,034 |
Other current liabilities | 0 | 60,950 |
Current portion of long-term debt | 15,999 | 9,407 |
Total Current Liabilities | 773,590 | 811,405 |
Long-term debt | 4,919,377 | 4,935,388 |
Deferred tax liability | 656,150 | 673,068 |
Other long-term liabilities | 250,167 | 239,832 |
Intercompany notes payable | 0 | 0 |
Commitments and contingent liabilities (Note 7) | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Noncontrolling interest | 202,046 | 247,934 |
Common stock | 3,591 | 3,574 |
Additional paid-in capital | 4,332,045 | 4,522,668 |
Retained deficit | -4,162,975 | -4,114,515 |
Accumulated other comprehensive loss | -213,572 | -212,599 |
Cost of shares held in treasury | -1,027 | -973 |
Total Shareholders' Equity | 160,108 | 446,089 |
Total Liabilities and Shareholders' Equity | 6,759,392 | 7,105,782 |
Class A Common Shares Issued [Member] | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Common stock | 441 | 424 |
Class B Common Shares Issued [Member] | ' | ' |
SHAREHOLDERS' EQUITY | ' | ' |
Common stock | $3,150 | $3,150 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Balance Sheet Parenthetical [Abstract] | ' | ' |
Allowances for receivables | $33,127 | $36,669 |
Preferred Stock [Abstract] | ' | ' |
Preferred stock par value per share | $0.01 | $0.01 |
Preferred stock shares authorized | 150,000,000 | 150,000,000 |
Preferred stock shares issued | 0 | 0 |
Class of Stock [Line Items] | ' | ' |
Treasury stock shares | 116,264 | 110,005 |
Common Class A [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common stock par value per share | $0.01 | $0.01 |
Common stock shares authorized | 750,000,000 | 750,000,000 |
Common stock shares issued | 44,117,843 | 42,357,863 |
Common Class B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common stock par value per share | $0.01 | $0.01 |
Common stock shares authorized | 600,000,000 | 600,000,000 |
Common stock shares issued | 315,000,000 | 315,000,000 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements Of Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $806,096 | $723,013 | $766,871 | $650,210 | $803,194 | $731,141 | $761,326 | $651,283 | $2,946,190 | $2,946,944 | $3,003,874 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct operating expenses (excludes depreciation and amortization) | 412,885 | 396,094 | 399,558 | 386,191 | 415,821 | 390,639 | 405,314 | 391,718 | 1,594,728 | 1,603,492 | 1,630,875 |
Selling, general and admin expenses (excludes depreciation and amortization) | 139,554 | 131,437 | 133,020 | 139,561 | 153,985 | 136,582 | 131,752 | 152,343 | 543,572 | 574,662 | 538,032 |
Corporate expenses (excludes depreciation and amortization) | 32,964 | 29,719 | 33,892 | 27,824 | 29,609 | 28,820 | 29,952 | 27,451 | 124,399 | 115,832 | 100,971 |
Depreciation and amortization | 106,933 | 98,344 | 97,566 | 100,327 | 106,907 | 100,352 | 99,668 | 92,337 | 403,170 | 399,264 | 432,035 |
Impairment charges | 13,150 | 0 | 0 | 0 | 37,651 | 0 | 0 | 0 | 13,150 | 37,651 | 7,614 |
Other operating income (expense), net | 10,575 | 6,604 | 3,697 | 2,103 | 1,797 | 42,397 | 2,746 | 4,003 | 22,979 | 50,943 | 8,591 |
Operating income | 111,185 | 74,023 | 106,532 | -1,590 | 61,018 | 117,145 | 97,386 | -8,563 | 290,150 | 266,986 | 302,938 |
Interest expense | 88,658 | 87,969 | 88,063 | 88,093 | 100,480 | 102,612 | 102,953 | 67,831 | 352,783 | 373,876 | 242,435 |
Interest income on Due from Clear Channel Communications | 14,854 | 14,940 | 12,496 | 11,920 | 14,779 | 16,913 | 16,089 | 15,980 | 54,210 | 63,761 | 45,459 |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on marketable securities | 0 | -18 | 0 | 0 | -2,578 | 0 | 0 | 0 | -18 | -2,578 | -4,827 |
Equity in earnings (loss) of nonconsolidated affiliates | -1,131 | -645 | 169 | -485 | 813 | -234 | -157 | 421 | -2,092 | 843 | 6,029 |
Loss on extinguishment of debt | 0 | 0 | 0 | 0 | -221,071 | 0 | 0 | 0 | 0 | -221,071 | 0 |
Other income (expense), net | 788 | 1,445 | -310 | -907 | -64 | 1,825 | -1,631 | -494 | 1,016 | -364 | -649 |
Income (loss) before income taxes | 37,038 | 1,776 | 30,824 | -79,155 | -247,583 | 33,037 | 8,734 | -60,487 | -9,517 | -266,299 | 106,515 |
Income tax benefit (expense) | -17,935 | 10,214 | -12,094 | 5,006 | 108,089 | -8,212 | -8,082 | 15,294 | -14,809 | 107,089 | -43,296 |
Consolidated net income (loss) | 19,103 | 11,990 | 18,730 | -74,149 | -139,494 | 24,825 | 652 | -45,193 | -24,326 | -159,210 | 63,219 |
Less amount attributable to noncontrolling interest | 6,411 | 7,772 | 9,822 | 129 | 8,916 | 7,541 | 8,768 | -1,323 | 24,134 | 23,902 | 20,273 |
Net income (loss) attributable to the Company | 12,692 | 4,218 | 8,908 | -74,278 | -148,410 | 17,284 | -8,116 | -43,870 | -48,460 | -183,112 | 42,946 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -9,654 | 35,485 | -29,801 |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,187 | -2,573 | -4,834 |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,732 | 1,135 | -1,361 |
Reclassification adjustment for realized gain (loss) on securities included in net loss | ' | ' | ' | ' | ' | ' | ' | ' | -1,432 | 2,045 | 5,148 |
Equity in subsidiary comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -3,167 | 36,092 | -30,848 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -51,627 | -147,020 | 12,098 |
Less amount attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -2,194 | 1,703 | 8,918 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | ($49,433) | ($148,723) | $3,180 |
Net income (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.04 | $0.01 | $0.02 | ($0.22) | ($0.42) | $0.05 | ($0.02) | ($0.14) | ($0.14) | ($0.54) | $0.11 |
Weighted average common shares outstanding - Basic | ' | ' | ' | ' | ' | ' | ' | ' | 357,662 | 356,915 | 355,907 |
Diluted | $0.04 | $0.01 | $0.02 | ($0.22) | ($0.42) | $0.05 | ($0.02) | ($0.14) | ($0.14) | ($0.54) | $0.11 |
Weighted average common shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 357,662 | 356,915 | 356,528 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Non-controlling Interest [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] | Class A Common Shares Issued [Member] | Class B Common Shares Issued [Member] |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||
Balances at Dec. 31, 2010 | $2,708,055 | $209,794 | $3,558 | $6,677,146 | ($3,974,349) | ($207,439) | ($655) | ' | ' |
Balances at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | 40,886,923 | 315,000,000 |
Shares issued through stock purchase agreement | ' | ' | ' | ' | ' | ' | ' | 251,812 | 0 |
Net income (loss) | 63,219 | 20,273 | 0 | 0 | 42,946 | 0 | 0 | ' | ' |
Exercise of stock options and other | -312 | 0 | 3 | 0 | 0 | 0 | -315 | ' | ' |
Share-based payments | 10,913 | 0 | 0 | 10,913 | 0 | 0 | 0 | ' | ' |
Other | -10,800 | -7,455 | 0 | -3,562 | 0 | 217 | 0 | ' | ' |
Other comprehensive income (loss) | -30,848 | 8,918 | 0 | 0 | 0 | -39,766 | 0 | ' | ' |
Balances at Dec. 31, 2011 | 2,740,227 | 231,530 | 3,561 | 6,684,497 | -3,931,403 | -246,988 | -970 | ' | ' |
Balances at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | 41,138,735 | 315,000,000 |
Shares issued through stock purchase agreement | ' | ' | ' | ' | ' | ' | ' | 1,219,128 | 0 |
Net income (loss) | -159,210 | 23,902 | 0 | 0 | -183,112 | 0 | 0 | ' | ' |
Exercise of stock options and other | 6,382 | 0 | 13 | 6,372 | 0 | 0 | -3 | ' | ' |
Share-based payments | 10,589 | 0 | 0 | 10,589 | 0 | 0 | 0 | ' | ' |
Dividend declared and paid | -2,170,396 | 0 | 0 | -2,170,396 | 0 | 0 | 0 | ' | ' |
Other | -17,595 | -9,201 | 0 | -8,394 | 0 | 0 | 0 | ' | ' |
Other comprehensive income (loss) | 36,092 | 1,703 | 0 | 0 | 0 | 34,389 | 0 | ' | ' |
Balances at Dec. 31, 2012 | 446,089 | 247,934 | 3,574 | 4,522,668 | -4,114,515 | -212,599 | -973 | ' | ' |
Balances at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | 42,357,863 | 315,000,000 |
Shares issued through stock purchase agreement | ' | ' | ' | ' | ' | ' | ' | 1,759,980 | 0 |
Net income (loss) | -24,326 | 24,134 | 0 | 0 | -48,460 | 0 | 0 | ' | ' |
Exercise of stock options and other | 4,191 | 0 | 17 | 4,228 | 0 | 0 | -54 | ' | ' |
Share-based payments | 7,725 | 0 | 0 | 7,725 | 0 | 0 | 0 | ' | ' |
Dividend declared and paid | -200,010 | 0 | 0 | -200,010 | 0 | 0 | 0 | ' | ' |
Dividends and other payments to noncontrolling interests | -68,441 | -68,441 | 0 | 0 | 0 | 0 | 0 | ' | ' |
Other | -1,953 | 613 | 0 | -2,566 | 0 | 0 | 0 | ' | ' |
Other comprehensive income (loss) | -3,167 | -2,194 | 0 | 0 | 0 | -973 | 0 | ' | ' |
Balances at Dec. 31, 2013 | $160,108 | $202,046 | $3,591 | $4,332,045 | ($4,162,975) | ($213,572) | ($1,027) | ' | ' |
Balances at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | 44,117,843 | 315,000,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Consolidated net income (loss) | ($24,326) | ($159,210) | $63,219 |
Reconciling items: | ' | ' | ' |
Impairment charges | 13,150 | 37,651 | 7,614 |
Depreciation and amortization | 403,170 | 399,264 | 432,035 |
Deferred taxes | -31,216 | -157,315 | -1,393 |
Provision for doubtful accounts | 5,124 | 7,000 | 5,977 |
Share-based compensation | 7,725 | 10,589 | 10,913 |
(Gain) loss on sale of operating assets | -22,979 | -50,943 | -8,591 |
Loss on marketable securities | 18 | 2,578 | 4,827 |
Amortization of deferred financing charges and note discounts, net | 8,562 | 10,963 | 7,653 |
Loss on extinguishment of debt | 0 | 221,071 | 0 |
Other reconciling items, net | 2,188 | 112 | -5,329 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' |
(Increase) decrease in accounts receivable | 43,429 | -46,294 | 15,829 |
Increase (decrease) in accrued expenses | 18,176 | 25,294 | -35,842 |
Increase (decrease) in accounts payable | -10,407 | 2,503 | 23,702 |
Increase (decrease) in deferred income | 334 | 24,069 | -10,212 |
Changes in other operating assets and liabilities | 1,692 | 27,806 | 6,816 |
Net cash provided by operating activities | 414,640 | 355,138 | 517,218 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property, plant and equipment | -206,187 | -275,577 | -291,050 |
Decrease (increase) in intercompany notes receivable, net | 0 | 0 | 0 |
Dividends From Subsidiaries | 0 | 0 | 0 |
Proceeds from disposal of assets | 42,134 | 56,433 | 12,883 |
Purchases of other operating assets | -10,483 | -5,719 | -14,794 |
Purchases of businesses | 0 | -4,721 | -13,179 |
Change in other, net | -3,143 | -4,164 | 7,206 |
Net cash used for investing activities | -177,679 | -233,748 | -298,934 |
Cash flows from financing activities: | ' | ' | ' |
Draws on credit facilities | 2,752 | 2,063 | 0 |
Payments on credit facilities | -4,815 | -3,368 | -4,151 |
Proceeds from long-term debt | 0 | 4,917,643 | 5,012 |
Payments on long-term debt | -6,626 | -2,700,786 | -20,099 |
Payments to repurchase noncontrolling interests | -61,143 | -7,040 | -4,682 |
(Decrease) increase in intercompany notes payable, net | 0 | 0 | 0 |
Net transfers to Clear Channel Communications | -149,957 | -73,127 | -272,262 |
Intercompany funding | 0 | 0 | 0 |
Deferred financing charges | -344 | -69,988 | 0 |
Dividends paid | -200,010 | -2,170,396 | 0 |
Dividends and other payments to noncontrolling interests | -68,442 | -6,931 | -3,571 |
Change in other, net | 4,192 | 6,381 | 1,009 |
Net cash used for financing activities | -484,393 | -105,549 | -298,744 |
Effect of exchange rate changes on cash | -2 | 3,483 | -903 |
Net increase (decrease) in cash and cash equivalents | -247,434 | 19,324 | -81,363 |
Cash and cash equivalents at beginning of year | 561,979 | 542,655 | 624,018 |
Cash and cash equivalents at end of year | 314,545 | 561,979 | 542,655 |
Supplemental Disclosures [Abstract] | ' | ' | ' |
Cash paid during the year for interest | 346,833 | 381,346 | 233,979 |
Cash paid during the year for income taxes | $46,262 | $48,424 | $37,777 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies [Text Block] | ' |
NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Business | |
Clear Channel Outdoor Holdings, Inc. (the “Company”) is an outdoor advertising company which owns or operates advertising display faces domestically and internationally. On November 11, 2005, the Company became a publicly traded company through an initial public offering (“IPO”), in which 10%, or 35.0 million shares, of the Company's Class A common stock was sold. Prior to the IPO, the Company was an indirect wholly-owned subsidiary of Clear Channel Communications, Inc. (“Clear Channel Communications”), a diversified media and entertainment company. As of December 31, 2013, Clear Channel Communications indirectly holds all of the 315.0 million shares of Class B common stock outstanding and 1,553,971 shares of Class A common stock, collectively representing approximately 88% of the shares outstanding and approximately 99% of the voting power. The holders of Class A common stock and Class B common stock have identical rights, except holders of Class A common stock are entitled to one vote per share while holders of Class B common stock are entitled to 20 votes per share. The Class B shares of common stock are convertible, at the option of the holder at any time or upon any transfer, into shares of Class A common stock on a one-for-one basis, subject to certain limited exceptions. | |
The Company operates in the outdoor advertising industry by selling advertising on billboards, street furniture displays, transit displays and other advertising displays. The Company has two reportable business segments: Americas and International. During the first quarter of 2012, and in connection with the appointment of the Company's new chief executive officer, the Company reevaluated its segment reporting and determined that its Latin American operations were more appropriately aligned with the operations of its International segment. As a result, the operations of Latin America are no longer reflected within the Company's Americas segment and are currently included in the results of its International segment. Accordingly, the Company has recast the corresponding segment disclosures for prior periods. The Americas segment primarily includes operations in the United States and Canada; the International segment primarily includes operations in Europe, Asia, Latin America and Australia. | |
Clear Channel Communications' Merger | |
On July 30, 2008, Clear Channel Communications completed its merger with a subsidiary of CC Media Holdings, Inc. (“CC Media Holdings”), a company formed by a group of private equity funds sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. (together, the “Sponsors”). Clear Channel Communications is now owned indirectly by CC Media Holdings. The purchase price was approximately $23.0 billion, including $94.0 million in capitalized transaction costs. The merger was accounted for as a purchase business combination in conformity with Statement of Financial Accounting Standards No. 141, Business Combinations, and Emerging Issues Task Force Issue 88-16, Basis in Leveraged Buyout Transactions. ASC 805-50-S99-1 requires the application of push down accounting in situations where the ownership of an entity has changed. As a result, the post-merger financial statements of the Company reflect the new basis of accounting. | |
Agreements with Clear Channel Communications | |
There are several agreements which govern the Company's relationship with Clear Channel Communications including the Master Agreement, Corporate Services Agreement, Employee Matters Agreement and Tax Matters Agreement. Clear Channel Communications has the right to terminate these agreements in various circumstances. As of the date of the filing of this report, no notice of termination of any of these agreements has been received from Clear Channel Communications. | |
Use of Estimates | |
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments, and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. | |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are entities for which the Company has a controlling financial interest or is the primary beneficiary. Investments in companies in which the Company owns 20 percent to 50 percent of the voting common stock or otherwise exercises significant influence over operating and financial policies of the Company are accounted for using the equity method of accounting. All significant intercompany accounts have been eliminated in consolidation. | |
Certain prior period amounts have been reclassified to conform to the 2013 presentation. | |
Cash and Cash Equivalents | |
Cash and cash equivalents include all highly liquid investments with an original maturity of three months or less. | |
Accounts Receivable and Allowance for Doubtful Accounts | |
Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company evaluates the collectability of its accounts receivable based on a combination of factors. In circumstances where it is aware of a specific customer's inability to meet its financial obligations, it records a specific reserve to reduce the amounts recorded to what it believes will be collected. For all other customers, it recognizes reserves for bad debt based on historical experience of bad debts as a percent of revenue for each business unit, adjusted for relative improvements or deteriorations in the agings and changes in current economic conditions. The Company believes its concentration of credit risk is limited due to the large number and the geographic diversification of its customers. | |
Business Combinations | |
The Company accounts for its business combinations under the acquisition method of accounting. The total cost of an acquisition is allocated to the underlying identifiable net assets, based on their respective estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Determining the fair value of assets acquired and liabilities assumed requires management's judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items. Various acquisition agreements may include contingent purchase consideration based on performance requirements of the investee. The Company accounts for these payments in conformity with the provisions of ASC 805-20-30, which establish the requirements related to recognition of certain assets and liabilities arising from contingencies. | |
Property, Plant and Equipment | |
Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method at rates that, in the opinion of management, are adequate to allocate the cost of such assets over their estimated useful lives, which are as follows: | |
Buildings and improvements — 10 to 39 years | |
Structures — 5 to 15 years | |
Furniture and other equipment — 3 to 20 years | |
Leasehold improvements — shorter of economic life or lease term assuming renewal periods, if appropriate | |
For assets associated with a lease or contract, the assets are depreciated at the shorter of the economic life or the lease or contract term, assuming renewal periods, if appropriate. Expenditures for maintenance and repairs are charged to operations as incurred, whereas expenditures for renewal and betterments are capitalized. | |
The Company tests for possible impairment of property, plant, and equipment whenever events and circumstances indicate that depreciable assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. | |
Land Leases and Other Structure Licenses | |
Most of the Company's advertising structures are located on leased land. Americas land leases are typically paid in advance for periods ranging from one to 12 months. International land leases are paid both in advance and in arrears, for periods ranging from one to 12 months. Most international street furniture display faces are operated through contracts with municipalities for up to 20 years. The leased land and street furniture contracts often include a percent of revenue to be paid along with a base rent payment. Prepaid land leases are recorded as an asset and expensed ratably over the related rental term and license and rent payments in arrears are recorded as an accrued liability. | |
Intangible Assets | |
The Company's indefinite-lived intangible assets include billboard permits in its Americas segment. The Company's indefinite-lived intangible assets are not subject to amortization, but are tested for impairment at least annually. The Company tests for possible impairment of indefinite-lived intangible assets whenever events or changes in circumstances, such as a significant reduction in operating cash flow or a dramatic change in the manner for which the asset is intended to be used indicate that the carrying amount of the asset may not be recoverable. | |
The Company performs its annual impairment test for its permits using a direct valuation technique as prescribed in ASC 805-20-S99. The Company engages Mesirow Financial Consulting, LLC (“Mesirow Financial”), a third party valuation firm, to assist the Company in the development of these assumptions and the Company's determination of the fair value of its permits. | |
Other intangible assets include definite-lived intangible assets and permanent easements. The Company's definite-lived intangible assets include primarily transit and street furniture contracts, site leases and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time the assets are expected to contribute directly or indirectly to the Company's future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at cost. Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company. | |
The Company tests for possible impairment of other intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. | |
Goodwill | |
At least annually, the Company performs its impairment test for each reporting unit's goodwill. In 2013 and 2012, the Company used a discounted cash flow model to determine if the carrying value of the reporting unit, including goodwill, is less than the fair value of the reporting unit. The Company identified its reporting units in accordance with ASC 350-20-55. The Company's U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test. The Company also determined that within its Americas segment, Canada constitutes a separate reporting unit and each country in its International outdoor segment constitutes a separate reporting unit. The Company recognized a non-cash impairment charge to goodwill of $10.7 million based on declining future cash flows expected in one country in the International outdoor segment for 2013. The Company had no impairment of goodwill for 2012. The Company recognized a non-cash impairment charge of $1.1 million to reduce goodwill in one country within its International segment for 2011. | |
Nonconsolidated Affiliates | |
In general, investments in which the Company owns 20 percent to 50 percent of the common stock or otherwise exercises significant influence over the investee are accounted for under the equity method. The Company does not recognize gains or losses upon the issuance of securities by any of its equity method investees. The Company reviews the value of equity method investments and records impairment charges in the statement of operations as a component of “Equity in earnings (loss) of nonconsolidated affiliates” for any decline in value that is determined to be other-than-temporary. | |
Other Investments | |
Other investments are composed primarily of equity securities. These securities are classified as available-for-sale or trading and are carried at fair value based on quoted market prices. Securities are carried at historical value when quoted market prices are unavailable. The net unrealized gains or losses on the available-for-sale securities, net of tax, are reported in accumulated other comprehensive loss as a component of shareholders' deficit. In addition, the Company holds investments that do not have quoted market prices. The Company periodically assesses the value of available-for-sale and non-marketable securities and records impairment charges in the statement of comprehensive loss for any decline in value that is determined to be other-than-temporary. The average cost method is used to compute the realized gains and losses on sales of equity securities. | |
The Company periodically assesses the value of its available-for-sale securities. Based on these assessments, no impairments existed at December 31, 2013 and the Company concluded that other-than-temporary impairments existed at December 31, 2012 and 2011 and recorded non-cash impairment charges of $2.6 million and $4.8 million, respectively, during each of these years. Such charges are recorded on the statement of operations in “Loss on marketable securities”. | |
Financial Instruments | |
Due to their short maturity, the carrying amounts of accounts and notes receivable, accounts payable, accrued liabilities and short-term borrowings approximated their fair values at December 31, 2013 and 2012. | |
Asset Retirement Obligation | |
ASC 410-20 requires the Company to estimate its obligation upon the termination or non-renewal of a lease to dismantle and remove its advertising structures from the leased land and to reclaim the site to its original condition. The Company's asset retirement obligation is reported in “Other long-term liabilities.” The Company records the present value of obligations associated with the retirement of its advertising structures in the period in which the obligation is incurred. When the liability is recorded, the cost is capitalized as part of the related advertising structures carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. | |
Income Taxes | |
The Company accounts for income taxes using the liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be realized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely than not that some portion or the entire asset will not be realized. As generally all earnings from the Company's foreign operations are permanently reinvested and not distributed, the Company's income tax provision does not include additional U.S. taxes on foreign operations. If any excess cash held by our foreign subsidiaries were needed to fund operations in the United States, we could presently repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of significant current and historic deficits in our foreign earnings and profits, which gives us flexibility to make future cash distributions as non-taxable returns of capital. We regularly review our tax liabilities on amounts that may be distributed in future periods and provide for foreign withholding and other current and deferred taxes on any such amounts. It is not practical to determine the amount of federal income taxes, if any, that might become due in the event that the earnings of our foreign operations were distributed. During 2013, the Company recorded additional foreign deferred tax expense of $3.4 million on certain foreign earnings that are expected to be distributed in future periods from the Company's Asia subsidiaries on which foreign withholding and other taxes have not previously been provided. | |
The operations of the Company are included in a consolidated U.S. Federal income tax return filed by CC Media Holdings. However, for financial reporting purposes, the Company's provision for income taxes has been computed on the basis that the Company files separate consolidated U.S. Federal income tax returns with its subsidiaries. | |
Revenue Recognition | |
The Company's advertising contracts cover periods of a few weeks up to one year, and are generally billed monthly. Revenue for advertising space rental is recognized ratably over the term of the contract. Advertising revenue is reported net of agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for the Company's operations. Payments received in advance of being earned are recorded as deferred income. Revenue arrangements typically contain multiple products and services and revenues are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognition criteria for the specific unit of accounting. | |
Advertising Expense | |
The Company records advertising expense as it is incurred. Advertising expenses were $18.6 million, $17.2 million and $14.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Share-Based Compensation | |
Under the fair value recognition provisions of ASC 718-10, share-based compensation cost is measured at the grant date based on the fair value of the award. For awards that vest based on service conditions, this cost is recognized as expense on a straight-line basis over the vesting period. For awards that will vest based on market or performance conditions, this cost will be recognized when it becomes probable that the performance conditions will be satisfied. Determining the fair value of share-based awards at the grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors. | |
Foreign Currency | |
Results of operations for foreign subsidiaries and foreign equity investees are translated into U.S. dollars using the average exchange rates during the year. The assets and liabilities of those subsidiaries and investees are translated into U.S. dollars using the exchange rates at the balance sheet date. The related translation adjustments are recorded in a separate component of shareholders' equity, “Accumulated other comprehensive income (loss)”. Foreign currency transaction gains and losses are included in operations. | |
New Accounting Pronouncements | |
In July 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. Under the revised guidance, entities are permitted to designate the Fed Funds effective Swap Rate, also referred to as the overnight index swap rate, as a benchmark interest rate. In addition, the ASU removes the restriction on using different benchmark interest rates for similar hedges. The amendments became effective for any qualifying new or designated hedging relationships entered into on or after July 17, 2013. The Company does not expect the provisions of ASU 2013-10 to have a material effect on the Company's financial position or results of operations. | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. Under the revised guidance, public and non-public companies are required to present information about reclassification adjustments from accumulated other comprehensive income in their financial statements in a single note or on the face of the financial statements. Public companies are also required to provide this information in their interim statements. The standard is effective prospectively for public entities for fiscal years, and interim periods with those years, beginning after December 15, 2012. The provisions of ASU 2013-02 did not have a material effect on the Company's financial statement disclosures. | |
In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. Under the revised guidance, new balance sheet offsetting disclosures are limited to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement; recognized derivative instruments accounted for under ASC 815, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions. Entities are required to apply the ASU for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The provisions of ASU 2013-01 did not have a material effect on the Company's financial statement disclosures. | |
In October 2012, the FASB issued ASU No. 2012-04, Technical Corrections and Improvements. Under the revised guidance, changes were made to clarify the FASB Accounting Standards Codification (the “Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, the amendments will make the Codification easier to understand and the fair value measurement guidance easier to apply by eliminating inconsistencies and providing needed clarifications. The guidance is effective for annual and interim reporting periods beginning after December 15, 2012. The provisions of ASU 2012-04 did not have a material effect on the Company's financial statement disclosures. |
Property_Plant_And_Equipment_I
Property, Plant And Equipment, Intangible Assets and Goodwill | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property, Plant And Equipment, Intangible Assets And Goodwill [Abstract] | ' | ||||||||||||
Property, Plant And Equipment, Intangible Assets And Goodwill [Text Block] | ' | ||||||||||||
NOTE 2 – PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL | |||||||||||||
Property, Plant and Equipment | |||||||||||||
The Company's property, plant and equipment consisted of the following classes of assets at December 31, 2013 and 2012, respectively. | |||||||||||||
(In thousands) | December 31, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||
Land, buildings and improvements | $ | 213,670 | $ | 210,382 | |||||||||
Structures | 3,021,152 | 2,949,458 | |||||||||||
Furniture and other equipment | 147,768 | 134,389 | |||||||||||
Construction in progress | 83,891 | 76,299 | |||||||||||
3,466,481 | 3,370,528 | ||||||||||||
Less: accumulated depreciation | 1,385,383 | 1,162,784 | |||||||||||
Property, plant and equipment, net | $ | 2,081,098 | $ | 2,207,744 | |||||||||
The Company impaired outdoor advertising structures in its Americas outdoor segment by $1.7 million during 2012. | |||||||||||||
Indefinite-lived Intangible Assets | |||||||||||||
The Company's indefinite-lived intangible assets consist primarily of billboard permits. The Company's billboard permits are granted for the right to operate an advertising structure at the specified location as long as the structure is in compliance with the laws and regulations of each jurisdiction. The Company's permits are located on owned land, leased land or land for which we have acquired permanent easements. In cases where the Company's permits are located on leased land, the leases typically have initial terms of between 10 and 20 years and renew indefinitely, with rental payments generally escalating at an inflation-based index. If the Company loses its lease, the Company will typically obtain permission to relocate the permit or bank it with the municipality for future use. Due to significant differences in both business practices and regulations, billboards in the International segment are subject to long-term, finite contracts unlike the Company's permits in the United States and Canada. Accordingly, there are no indefinite-lived intangible assets in the International segment. | |||||||||||||
The impairment tests for indefinite-lived intangible assets consist of a comparison between the fair value of the indefinite-lived intangible asset at the market level with its carrying amount. If the carrying amount of the indefinite-lived intangible asset exceeds its fair value, an impairment loss is recognized equal to that excess. After an impairment loss is recognized, the adjusted carrying amount of the indefinite-lived asset is its new accounting basis. The fair value of the indefinite-lived asset is determined using the direct valuation method as prescribed in ASC 805-20-S99. Under the direct valuation method, the fair value of the indefinite-lived assets is calculated at the market level as prescribed by ASC 350-30-35. The Company engaged Mesirow Financial, a third-party valuation firm, to assist it in the development of the assumptions and the Company's determination of the fair value of its indefinite-lived intangible assets. | |||||||||||||
The application of the direct valuation method attempts to isolate the income that is properly attributable to the indefinite-lived intangible asset alone (that is, apart from tangible and identified intangible assets and goodwill). It is based upon modeling a hypothetical “greenfield” build-up to a “normalized” enterprise that, by design, lacks inherent goodwill and whose only other assets have essentially been paid for (or added) as part of the build-up process. The Company forecasts revenue, expenses, and cash flows over a ten-year period for each of its markets in its application of the direct valuation method. The Company also calculates a “normalized” residual year which represents the perpetual cash flows of each market. The residual year cash flow was capitalized to arrive at the terminal value of the permits in each market. | |||||||||||||
Under the direct valuation method, it is assumed that rather than acquiring indefinite-lived intangible assets as part of a going concern business, the buyer hypothetically develops indefinite-lived intangible assets and builds a new operation with similar attributes from scratch. Thus, the buyer incurs start-up costs during the build-up phase which are normally associated with going concern value. Initial capital costs are deducted from the discounted cash flow model which results in value that is directly attributable to the indefinite-lived intangible assets. | |||||||||||||
The key assumptions using the direct valuation method are market revenue growth rates, market share, profit margin, duration and profile of the build-up period, estimated start-up capital costs and losses incurred during the build-up period, the risk-adjusted discount rate and terminal values. This data is populated using industry normalized information representing an average billboard permit within a market. | |||||||||||||
Annual Impairment Test to Billboard Permits | |||||||||||||
The Company performs its annual impairment test on October 1 of each year. | |||||||||||||
During 2013, the Company recognized a $2.5 million impairment charge related to billboard permits in a certain market due to increased start-up costs for that market exceeding market value. During 2012, the Company recognized a $35.9 million impairment charge related to billboard permits in certain markets due to a change in the Company's forecast of revenue growth within the markets. During 2011, the Company recognized a $6.5 million impairment charge related to billboard permits in one market due to significant declines in permit value resulting from flat revenues, a slight decline in margin and increased capital expenditures within the market. | |||||||||||||
Other Intangible Assets | |||||||||||||
Other intangible assets include definite-lived intangible assets and permanent easements. The Company's definite-lived intangible assets include primarily transit and street furniture contracts, site-leases and other contractual rights, all of which are amortized over the respective lives of the agreements, or over the period of time the assets are expected to contribute directly or indirectly to the Company's future cash flows. Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company. No impairments of other intangible assets were recognized during 2013 or 2012. | |||||||||||||
The following table presents the gross carrying amount and accumulated amortization for each major class of other intangible assets at December 31, 2013 and 2012, respectively: | |||||||||||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | ||||||||||
Transit, street furniture and other outdoor contractual rights | $ | 777,521 | $ | -464,548 | $ | 785,303 | $ | -403,955 | |||||
Permanent easements | 173,753 | - | 173,374 | - | |||||||||
Other | 2,832 | -1,632 | 4,283 | -1,527 | |||||||||
Total | $ | 954,106 | $ | -466,180 | $ | 962,960 | $ | -405,482 | |||||
Total amortization expense related to definite-lived intangible assets was $70.9 million, $75.2 million and $101.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
As acquisitions and dispositions occur in the future, amortization expense may vary. The following table presents the Company's estimate of amortization expense for each of the five succeeding fiscal years for definite-lived intangible assets: | |||||||||||||
(In thousands) | |||||||||||||
2014 | $ | 65,291 | |||||||||||
2015 | 55,110 | ||||||||||||
2016 | 42,875 | ||||||||||||
2017 | 31,461 | ||||||||||||
2018 | 22,991 | ||||||||||||
Annual Impairment Test to Goodwill | |||||||||||||
The Company performs its annual impairment test on October 1 of each year. Each of the Company's advertising markets are components. The U.S. advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test using the guidance in ASC 350-20-55. The Company also determined that within its Americas segment, Canada constitutes a separate reporting unit and each country in its International segment constitutes a separate reporting unit. | |||||||||||||
The goodwill impairment test is a two-step process. The first step, used to screen for potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If applicable, the second step, used to measure the amount of the impairment loss, compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. | |||||||||||||
Each of the Company's reporting units is valued using a discounted cash flow model which requires estimating future cash flows expected to be generated from the reporting unit, discounted to their present value using a risk-adjusted discount rate. Terminal values were also estimated and discounted to their present value. Assessing the recoverability of goodwill requires the Company to make estimates and assumptions about sales, operating margins, growth rates and discount rates based on its budgets, business plans, economic projections, anticipated future cash flows and marketplace data. There are inherent uncertainties related to these factors and management's judgment in applying these factors. In 2013, based on declining future cash flows expected in one country in the International segment, the Company recognized a non-cash impairment charge to goodwill of $10.7 million and recognized no goodwill impairment for its Americas segment for the year ended December 31, 2013. The Company recognized no goodwill impairment for the year ended December 31, 2012. | |||||||||||||
In 2011, the Company utilized the option to assess qualitative factors under ASC 350-20-35 to determine whether it was more likely than not that the fair value of its reporting units was less than their carrying amounts, including goodwill. Based on a qualitative assessment, the Company concluded that no further testing of goodwill for impairment was required for all of the reporting units within its Americas segment. Further testing was required for four of the countries within its International segment. | |||||||||||||
If further testing of goodwill for impairment is required after assessing qualitative factors, the Company follows the two-step impairment testing approach in accordance with ASC 350-20-35. The first step, used to screen for potential impairment, compares the fair value of the reporting unit with its carrying amount, including goodwill. If applicable, the second step, used to measure the amount of the impairment loss, compares the implied fair value of the reporting unit goodwill with the carrying amount of that goodwill. For the year ended December 31, 2011, the Company recognized a non-cash impairment charge to goodwill of $1.1 million due to a decline in the fair value of one country within the Company's International segment. | |||||||||||||
The following table presents the changes in the carrying amount of goodwill in each of the Company's reportable segments. The provisions of ASC 350-20-50-1 require the disclosure of cumulative impairment. As a result of the merger, a new basis in goodwill was recorded in accordance with ASC 805-10. All impairments shown in the table below have been recorded subsequent to the merger and, therefore, do not include any pre-merger impairment. | |||||||||||||
(In thousands) | Americas | International | Consolidated | ||||||||||
Balance as of December 31, 2011 | $ | 571,932 | $ | 285,261 | $ | 857,193 | |||||||
Foreign currency | - | 7,784 | 7,784 | ||||||||||
Dispositions | - | -2,729 | -2,729 | ||||||||||
Balance as of December 31, 2012 | $ | 571,932 | $ | 290,316 | $ | 862,248 | |||||||
Impairment | - | -10,684 | -10,684 | ||||||||||
Foreign currency | - | -974 | -974 | ||||||||||
Dispositions | - | -456 | -456 | ||||||||||
Balance as of December 31, 2013 | $ | 571,932 | $ | 278,202 | $ | 850,134 | |||||||
The balance at December 31, 2011 is net of cumulative impairments of $2.6 billion and $315.9 million in the Company's Americas and International segments, respectively. |
Investments
Investments | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Investments [Abstract] | ' | |||||||||
Investments [Text Block] | ' | |||||||||
NOTE 3 – INVESTMENTS | ||||||||||
The Company's most significant investments in nonconsolidated affiliates are listed below: | ||||||||||
Alessi | ||||||||||
The Company owns a 49% interest in Alessi, an Italian outdoor advertising company. | ||||||||||
Buspak | ||||||||||
The Company owns a 50% interest in Buspak, an outdoor advertising company in Hong Kong. | ||||||||||
Summarized Financial Information | ||||||||||
The following table summarizes the Company's investments in nonconsolidated affiliates: | ||||||||||
(In thousands) | Buspak | All Others | Total | |||||||
Balance as of December 31, 2011 | $ | 7,911 | $ | 3,257 | $ | 11,168 | ||||
Equity in net earnings (loss) | 1,558 | -715 | 843 | |||||||
Acquisitions of investments, net | - | 1,082 | 1,082 | |||||||
Other, net | 1,209 | 1,831 | 3,040 | |||||||
Foreign currency translation adjustments | -35 | 25 | -10 | |||||||
Balance as of December 31, 2012 | $ | 10,643 | $ | 5,480 | $ | 16,123 | ||||
Equity in net loss | -144 | -1,948 | -2,092 | |||||||
Acquisitions of investments, net | - | 54 | 54 | |||||||
Other, net | - | 1,301 | 1,301 | |||||||
Foreign currency translation adjustments | -4 | 9 | 5 | |||||||
Balance as of December 31, 2013 | $ | 10,495 | $ | 4,896 | $ | 15,391 | ||||
The investments in the table above are not consolidated, but are accounted for under the equity method of accounting, whereby the Company records its investments in these entities in the balance sheet as “Other assets.” The Company's interests in their operations are recorded in the statement of comprehensive loss as “Equity in earnings of nonconsolidated affiliates.” | ||||||||||
Asset_Retirement_Obligation
Asset Retirement Obligation | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Asset Retirement Obligation [Abstract] | ' | ||||||
Asset Retirement Obligation [Text Block] | ' | ||||||
NOTE 4 – ASSET RETIREMENT OBLIGATION | |||||||
The Company's asset retirement obligation is reported in “Other long-term liabilities” with the current portion recorded in “Accrued liabilities” and relates to its obligation to dismantle and remove outdoor advertising displays from leased land and to reclaim the site to its original condition upon the termination or non-renewal of a lease or contract. When the liability is recorded, the cost is capitalized as part of the related long-lived assets' carrying value. Due to the high rate of lease renewals over a long period of time, the calculation assumes that all related assets will be removed at some period over the next 50 years. An estimate of third-party cost information is used with respect to the dismantling of the structures and the reclamation of the site. The interest rate used to calculate the present value of such costs over the retirement period is based on an estimated risk adjusted credit rate for the same period. | |||||||
The following table presents the activity related to the Company's asset retirement obligation: | |||||||
(In thousands) | Years Ended December 31, | ||||||
2013 | 2012 | ||||||
Beginning balance | $ | 52,571 | $ | 47,534 | |||
Adjustment due to change in estimate of related costs | 808 | 3,172 | |||||
Accretion of liability | 4,612 | 4,490 | |||||
Liabilities settled | -3,159 | -2,625 | |||||
Ending balance | $ | 54,832 | $ | 52,571 |
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long Term Debt [Abstract] | ' | ||||||
Long-Term Debt [Text Block] | ' | ||||||
NOTE 5 – LONG-TERM DEBT | |||||||
Long-term debt at December 31, 2013 and 2012 consisted of the following: | |||||||
(In thousands) | December 31, | December 31, | |||||
2013 | 2012 | ||||||
Clear Channel Worldwide Holdings Senior Notes: | |||||||
6.5% Series A Senior Notes Due 2022 | $ | 735,750 | $ | 735,750 | |||
6.5% Series B Senior Notes Due 2022 | 1,989,250 | 1,989,250 | |||||
Clear Channel Worldwide Holdings Senior Subordinated Notes: | |||||||
7.625% Series A Senior Subordinated Notes Due 2020 | 275,000 | 275,000 | |||||
7.625% Series B Senior Subordinated Notes Due 2020 | 1,925,000 | 1,925,000 | |||||
Senior revolving credit facility due 2018 | - | - | |||||
Other debt | 17,133 | 27,093 | |||||
Original issue discount | -6,757 | -7,298 | |||||
Total debt | 4,935,376 | 4,944,795 | |||||
Less: current portion | 15,999 | 9,407 | |||||
Total long-term debt | $ | 4,919,377 | $ | 4,935,388 | |||
The aggregate market value of the Company's debt based on market prices for which quotes were available was approximately $5.1 billion and $5.1 billion at December 31, 2013 and 2012, respectively. Under the fair value hierarchy established by ASC 820-10-35, the market value of the Company's debt is classified as Level 1. | |||||||
CCWH Senior Notes | |||||||
At December 31, 2013, the senior notes of the Company's wholly owned subsidiary, Clear Channel Worldwide Holdings, Inc. (“CCWH”), represented $2.7 billion aggregate principal amount of senior notes, which consisted of $735.75 million aggregate principal amount of Series A Senior Notes due 2022 (the “Series A CCWH Senior Notes”) and $1,989.25 million aggregate principal amount of Series B CCWH Senior Notes due 2022 (the “Series B CCWH Senior Notes” and, together with the Series A CCWH Senior Notes, the “CCWH Senior Notes”). The CCWH Senior Notes are guaranteed by the Company, Clear Channel Outdoor, Inc. (“CCOI”) and certain of the Company's direct and indirect subsidiaries. The proceeds from the issuance of the CCWH Senior Notes were used to fund the repurchase of CCWH's Series A Senior Notes due 2017 and CCWH's Series B Senior Notes due 2017 (collectively, the “Existing CCWH Senior Notes”). | |||||||
The Company capitalized $30.0 million in fees and expenses associated with the CCWH Senior Notes offering and an original issue discount of $7.4 million. The Company is amortizing the capitalized fees and discount through interest expense over the life of the CCWH Senior Notes. | |||||||
The CCWH Senior Notes are senior obligations that rank pari passu in right of payment to all unsubordinated indebtedness of CCWH and the guarantees of the CCWH Senior Notes rank pari passu in right of payment to all unsubordinated indebtedness of the guarantors. Interest on the CCWH Senior Notes is payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year, which began on May 15, 2013. | |||||||
At any time prior to November 15, 2017, CCWH may redeem the CCWH Senior Notes, in whole or in part, at a price equal to 100% of the principal amount of the CCWH Senior Notes plus a “make-whole” premium, together with accrued and unpaid interest, if any, to the redemption date. CCWH may redeem the CCWH Senior Notes, in whole or in part, on or after November 15, 2017, at the redemption prices set forth in the applicable indenture governing the CCWH Senior Notes plus accrued and unpaid interest to the redemption date. At any time on or before November 15, 2015, CCWH may elect to redeem up to 40% of the then outstanding aggregate principal amount of the CCWH Senior Notes at a redemption price equal to 106.500% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net proceeds of one or more equity offerings, subject to certain restrictions. Notwithstanding the foregoing, neither the Company nor any of its subsidiaries is permitted to make any purchase of, or otherwise effectively cancel or retire any Series A CCWH Senior Notes or Series B CCWH Senior Notes if, after giving effect thereto and, if applicable, any concurrent purchase of or other addition with respect to any Series B CCWH Senior Notes or Series A CCWH Senior Notes, as applicable, the ratio of (a) the outstanding aggregate principal amount of the Series A CCWH Senior Notes to (b) the outstanding aggregate principal amount of the Series B CCWH Senior Notes shall be greater than 0.25, subject to certain exceptions. | |||||||
The indenture governing the Series A CCWH Senior Notes contains covenants that limit the Company and its restricted subsidiaries ability to, among other things: | |||||||
incur or guarantee additional debt to persons other than Clear Channel Communications and its subsidiaries (other than the Company) or issue certain preferred stock; | |||||||
create liens on its restricted subsidiaries' assets to secure such debt; | |||||||
create restrictions on the payment of dividends or other amounts to the Company from its restricted subsidiaries that are not guarantors of the CCWH Senior Notes; | |||||||
enter into certain transactions with affiliates; | |||||||
merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of its assets; and | |||||||
sell certain assets, including capital stock of its subsidiaries, to persons other than Clear Channel Communications and its subsidiaries (other than Company). | |||||||
In addition, the indenture governing the Series A CCWH Senior Notes provides that if CCWH (i) makes an optional redemption of the Series B CCWH Senior Notes or purchases or makes an offer to purchase the Series B CCWH Senior Notes at or above 100% of the principal amount thereof, then CCWH shall apply a pro rata amount to make an optional redemption or purchase a pro rata amount of the Series A CCWH Senior Notes or (ii) makes an asset sale offer under the indenture governing the Series B CCWH Senior Notes, then CCWH shall apply a pro rata amount to make an offer to purchase a pro rata amount of Series A CCWH Senior Notes. | |||||||
The indenture governing the Series A CCWH Senior Notes does not include limitations on dividends, distributions, investments or asset sales. | |||||||
The indenture governing the Series B CCWH Senior Notes contains covenants that limit the Company and its restricted subsidiaries ability to, among other things: | |||||||
incur or guarantee additional debt or issue certain preferred stock; | |||||||
redeem, repurchase or retire the Company's subordinated debt; | |||||||
make certain investments; | |||||||
create liens on its or its restricted subsidiaries' assets to secure debt; | |||||||
create restrictions on the payment of dividends or other amounts to it from its restricted subsidiaries that are not guarantors of the CCWH Senior Notes; | |||||||
enter into certain transactions with affiliates; | |||||||
merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of its assets; | |||||||
sell certain assets, including capital stock of its subsidiaries; | |||||||
designate its subsidiaries as unrestricted subsidiaries; and | |||||||
pay dividends, redeem or repurchase capital stock or make other restricted payments. | |||||||
The Series A CCWH Senior Notes indenture and Series B CCWH Senior Notes indenture restrict the Company's ability to incur additional indebtedness but permit the Company to incur additional indebtedness based on an incurrence test. In order to incur (i) additional indebtedness under this test, the Company's debt to adjusted EBITDA ratios (as defined by the indentures) must be lower than 7.0:1 and 5.0:1 for total debt and senior debt, respectively, and (ii) additional indebtedness that is subordinated to the CCWH Senior Notes under this test, the Company's debt to adjusted EBITDA ratios (as defined by the indentures) must not be lower than 7.0:1 for total debt. The indentures contain certain other exceptions that allow the Company to incur additional indebtedness. The Series B CCWH Senior Notes indenture also permits the Company to pay dividends from the proceeds of indebtedness or the proceeds from asset sales if its debt to adjusted EBITDA ratios (as defined by the indentures) are lower than 7.0:1 and 5.0:1 for total debt and senior debt, respectively. The Series A CCWH Senior Notes indenture does not limit the Company's ability to pay dividends. The Series B CCWH Senior Notes indenture contains certain exceptions that allow the Company to pay dividends, including (i) $525.0 million of dividends made pursuant to general restricted payment baskets and (ii) dividends made using proceeds received upon a demand by the Company of amounts outstanding under the revolving promissory note issued by Clear Channel Communications to the Company. | |||||||
CCWH Senior Subordinated Notes | |||||||
At December 31, 2013, CCWH had $275.0 million aggregate principal amount of 7.625% Series A Senior Subordinated Notes due 2020 (the “Series A CCWH Subordinated Notes”) and $1,925.0 million aggregate principal amount of 7.625% Series B Senior Subordinated Notes due 2020 (the Series B CCWH Subordinated Notes” and, together with the Series A CCWH Subordinated Notes, the “CCWH Subordinated Notes”). Interest on the CCWH Subordinated Notes is payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year, which began on September 15, 2012. | |||||||
The CCWH Subordinated Notes are CCWH's senior subordinated obligations and are fully and unconditionally guaranteed, jointly and severally, on a senior subordinated basis by the Company, CCOI and certain of the Company's other domestic subsidiaries. The CCWH Subordinated Notes are unsecured senior subordinated obligations that rank junior to all of CCWH's existing and future senior debt, including the CCWH Senior Notes, equally with any of CCWH's existing and future senior subordinated debt and ahead of all of CCWH's existing and future debt that expressly provides that it is subordinated to the CCWH Subordinated Notes. The guarantees of the CCWH Subordinated Notes rank junior to each guarantor's existing and future senior debt, including the CCWH Senior Notes, equally with each guarantor's existing and future senior subordinated debt and ahead of each guarantor's existing and future debt that expressly provides that it is subordinated to the guarantees of the CCWH Subordinated Notes. | |||||||
At any time prior to March 15, 2015, CCWH may redeem the CCWH Subordinated Notes, in whole or in part, at a price equal to 100% of the principal amount of the CCWH Subordinated Notes plus a “make-whole” premium, together with accrued and unpaid interest, if any, to the redemption date. CCWH may redeem the CCWH Subordinated Notes, in whole or in part, on or after March 15, 2015, at the redemption prices set forth in the applicable indenture governing the CCWH Subordinated Notes plus accrued and unpaid interest to the redemption date. At any time on or before March 15, 2015, CCWH may elect to redeem up to 40% of the then outstanding aggregate principal amount of the CCWH Subordinated Notes at a redemption price equal to 107.625% of the principal amount thereof, plus accrued and unpaid interest to the redemption date, with the net proceeds of one or more equity offerings, subject to certain restrictions. Notwithstanding the foregoing, neither the Company nor any of its subsidiaries is permitted to make any purchase of, or otherwise effectively cancel or retire any Series A CCWH Subordinated Notes or Series B CCWH Subordinated Notes if, after giving effect thereto and, if applicable, any concurrent purchase of or other addition with respect to any Series B CCWH Subordinated Notes or Series A CCWH Subordinated Notes, as applicable, the ratio of (a) the outstanding aggregate principal amount of the Series A CCWH Subordinated Notes to (b) the outstanding aggregate principal amount of the Series B CCWH Subordinated Notes shall be greater than 0.25, subject to certain exceptions. | |||||||
The Company capitalized $40.0 million in fees and expenses associated with the CCWH Subordinated Notes offering and are amortizing them through interest expense over the life of the CCWH Subordinated Notes. | |||||||
The indenture governing the Series A CCWH Subordinated Notes contains covenants that limit the ability of the Company and its restricted subsidiaries to, among other things: | |||||||
incur or guarantee additional debt to persons other than Clear Channel and its subsidiaries (other than the Company) or issue certain preferred stock; | |||||||
create restrictions on the payment of dividends or other amounts to the Company from its restricted subsidiaries that are not guarantors of the notes; | |||||||
enter into certain transactions with affiliates; | |||||||
merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of the Company's assets; and | |||||||
sell certain assets, including capital stock of the Company's subsidiaries, to persons other than Clear Channel and its subsidiaries (other than the Company). | |||||||
In addition, the indenture governing the Series A CCWH Subordinated Notes provides that if CCWH (i) makes an optional redemption of the Series B CCWH Subordinated Notes or purchases or makes an offer to purchase the Series B CCWH Subordinated Notes at or above 100% of the principal amount thereof, then CCWH shall apply a pro rata amount to make an optional redemption or purchase a pro rata amount of the Series A CCWH Subordinated Notes or (ii) makes an asset sale offer under the indenture governing the Series B CCWH Subordinated Notes, then CCWH shall apply a pro rata amount to make an offer to purchase a pro rata amount of Series A CCWH Subordinated Notes. | |||||||
The indenture governing the Series A CCWH Subordinated Notes does not include limitations on dividends, distributions, investments or asset sales. | |||||||
The indenture governing the Series B CCWH Subordinated Notes contains covenants that limit the ability of the Company and its restricted subsidiaries ability to, among other things: | |||||||
incur or guarantee additional debt or issue certain preferred stock; | |||||||
make certain investments; | |||||||
create restrictions on the payment of dividends or other amounts to the Company from its restricted subsidiaries that are not guarantors of the notes; | |||||||
enter into certain transactions with affiliates; | |||||||
merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of the Company's assets; | |||||||
sell certain assets, including capital stock of the Company's subsidiaries; | |||||||
designate the Company's subsidiaries as unrestricted subsidiaries; and | |||||||
pay dividends, redeem or repurchase capital stock or make other restricted payments. | |||||||
The Series A CCWH Subordinated Notes indenture and Series B CCWH Subordinated Notes indenture restrict the Company's ability to incur additional indebtedness but permit the Company to incur additional indebtedness based on an incurrence test. In order to incur additional indebtedness under this test, the Company's debt to adjusted EBITDA ratios (as defined by the indentures) must be lower than 7.0:1. The indentures contain certain other exceptions that allow the Company to incur additional indebtedness. The Series B CCWH Subordinated Notes indenture also permits the Company to pay dividends from the proceeds of indebtedness or the proceeds from asset sales if its debt to adjusted EBITDA ratios (as defined by the indentures) is lower than 7.0:1. The Series A CCWH Senior Subordinated Notes indenture does not limit the Company' ability to pay dividends. The Series B CCWH Subordinated Notes indenture contains certain exceptions that allow the Company to pay dividends, including (i) $525.0 million of dividends made pursuant to general restricted payment baskets and (ii) dividends made using proceeds received upon a demand by the Company of amounts outstanding under the revolving promissory note issued by Clear Channel Communications to the Company. | |||||||
With the proceeds of the CCWH Subordinated Notes (net of the initial purchasers' discount of $33.0 million), CCWH loaned an aggregate amount equal to $2,167.0 million to CCOI. CCOI paid all other fees and expenses of the offering using cash on hand and, with the proceeds of the loans, made a special cash dividend to the Company, which in turn made a special cash dividend on March 15, 2012 in an amount equal to $6.0832 per share to its Class A and Class B stockholders of record at the close of business on March 12, 2012, including Clear Channel Holdings, Inc. (“CC Holdings”) and CC Finco, LLC (“CC Finco”), both wholly-owned subsidiaries of the Company. Of the $2,170.4 million special cash dividend paid by the Company, an aggregate of $1,925.7 million was distributed to CC Holdings and CC Finco, with the remaining $244.7 million distributed to other stockholders. As a result, the Company recorded a reduction of $244.7 million in “Noncontrolling interest” on the consolidated balance sheet. | |||||||
Senior Revolving Credit Facility Due 2018 | |||||||
During the third quarter of 2013, the Company entered into a five-year senior secured revolving credit facility with an aggregate principal amount of $75.0 million. The revolving credit facility may be used for working capital, to issue letters of credit and for other general corporate purposes. At December 31, 2013, there were no amounts outstanding under the revolving credit facility, and $34.1 million of letters of credit under the revolving credit facility, which reduce availability under the facility. | |||||||
Clear Channel Communications' Debt Repayments | |||||||
On March 15, 2012, using proceeds of a CCOH dividend distributed to CC Holdings and CC Finco, together with cash on hand, Clear Channel Communications repaid indebtedness under its senior secured credit facilities in an aggregate amount equal to $1,925.7 million. As a result of the prepayment, the revolving credit commitments under Clear Channel Communications' revolving credit facility were permanently reduced from $1.9 billion to $10.0 million and the sub-limit under which certain of the Company's international subsidiaries may borrow (to the extent that Clear Channel Communications' has not already borrowed against this capacity) was reduced from $145.0 million to $750 thousand. On October 31, 2012, Clear Channel Communications permanently repaid the $10.0 million revolving credit facility, which included the $750 thousand sub-limit facility, and all remaining commitments related to the revolving credit facility were cancelled. | |||||||
In connection with the CCWH Subordinated Notes issuance, Clear Channel Communications used cash on hand to prepay $170.5 million of additional indebtedness under its senior secured credit facilities in order to remain in compliance with its debt covenants. | |||||||
Other Debt | |||||||
Other debt includes various borrowings and capital leases utilized for general operating purposes. Included in the $17.1 million balance at December 31, 2013 is $16.0 million that matures in less than one year. | |||||||
Debt Covenants | |||||||
The Company was in compliance with the covenants contained in the Senior Notes indentures, the Subordinated Notes indentures and the Senior revolving credit facility as of December 31, 2013. | |||||||
There are no significant covenants or events of default contained in the revolving promissory note issued by Clear Channel Communications to the Company or the revolving promissory note issued by the Company to Clear Channel Communications. | |||||||
Future maturities of long-term debt as of December 31, 2013 are as follows: | |||||||
(in thousands) | |||||||
2014 | $ | 15,999 | |||||
2015 | 57 | ||||||
2016 | 64 | ||||||
2017 | 74 | ||||||
2018 | 84 | ||||||
Thereafter | 4,925,855 | ||||||
Total (1) | $ | 4,942,133 | |||||
Excludes original issue discount of $6.8 million, which is amortized through interest expense over the life of the underlying debt obligations. | |||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments And Contingencies [Abstract] | ' | |||||||||||
Commitments and Contingencies [Text Block] | ' | |||||||||||
NOTE 6 – COMMITMENTS AND CONTINGENCIES | ||||||||||||
Commitments and Contingencies | ||||||||||||
The Company accounts for its rentals that include renewal options, annual rent escalation clauses, minimum franchise payments and maintenance related to displays under the guidance in ASC 840. | ||||||||||||
The Company considers its non-cancelable contracts that enable it to display advertising on buses, bus shelters, trains, etc. to be leases in accordance with the guidance in ASC 840-10. These contracts may contain minimum annual franchise payments which generally escalate each year. The Company accounts for these minimum franchise payments on a straight-line basis. If the rental increases are not scheduled in the lease, such as an increase based on subsequent changes in the index or rate, those rents are considered contingent rentals and are recorded as expense when accruable. Other contracts may contain a variable rent component based on revenue. The Company accounts for these variable components as contingent rentals and records these payments as expense when accruable. No single contract or lease is material to the Company's operations. | ||||||||||||
The Company accounts for annual rent escalation clauses included in the lease term on a straight-line basis under the guidance in ASC 840-20-25. The Company considers renewal periods in determining its lease terms if at inception of the lease there is reasonable assurance the lease will be renewed. Expenditures for maintenance are charged to operations as incurred, whereas expenditures for renewal and betterments are capitalized. | ||||||||||||
The Company leases office space, equipment and the majority of the land occupied by its advertising structures under long-term operating leases. The Company accounts for these leases in accordance with the policies described above. | ||||||||||||
The Company's contracts with municipal bodies or private companies relating to street furniture, billboards, transit and malls generally require the Company to build bus stops, kiosks and other public amenities or advertising structures during the term of the contract. The Company owns these structures and is generally allowed to advertise on them for the remaining term of the contract. Once the Company has built the structure, the cost is capitalized and expensed over the shorter of the economic life of the asset or the remaining life of the contract. | ||||||||||||
In addition, the Company has commitments relating to required purchases of property, plant, and equipment under certain street furniture contracts. Certain of the Company's contracts contain penalties for not fulfilling its commitments related to its obligations to build bus stops, kiosks and other public amenities or advertising structures. Historically, any such penalties have not materially impacted the Company's financial position or results of operations. | ||||||||||||
Certain acquisition agreements include deferred consideration payments based on performance requirements by the seller, typically involving the completion of a development or obtaining appropriate permits that enable the Company to construct additional advertising displays. At December 31, 2013, the Company believes its maximum aggregate contingency, which is subject to performance requirements by the seller, is approximately $30.0 million. As the contingencies have not been met or resolved as of December 31, 2013, these amounts are not recorded. | ||||||||||||
As of December 31, 2013, the Company's future minimum rental commitments under non-cancelable operating lease agreements with terms in excess of one year, minimum payments under non-cancelable contracts in excess of one year, capital expenditure commitments and employment contracts consist of the following: | ||||||||||||
(In thousands) | Capital | |||||||||||
Non-Cancelable | Non-Cancelable | Expenditure | Employment | |||||||||
Operating Lease | Contracts | Commitments | Contracts | |||||||||
2014 | $ | 301,974 | $ | 368,095 | $ | 44,224 | $ | 6,645 | ||||
2015 | 285,230 | 278,113 | 27,007 | 3,434 | ||||||||
2016 | 226,536 | 224,480 | 14,382 | 940 | ||||||||
2017 | 193,560 | 193,884 | 2,454 | 83 | ||||||||
2018 | 161,363 | - | 152 | - | ||||||||
Thereafter | 1,002,099 | 539,200 | 23,532 | - | ||||||||
Total | $ | 2,170,762 | $ | 1,603,772 | $ | 111,751 | $ | 11,102 | ||||
Rent expense charged to operations for the years ended December 31, 2013, 2012 and 2011 was $1,017.0 million, $1,011.2 million and $1,029.3 million, respectively. | ||||||||||||
In various areas in which the Company operates, outdoor advertising is the object of restrictive and, in some cases, prohibitive zoning and other regulatory provisions, either enacted or proposed. The impact to the Company of loss of displays due to governmental action has been somewhat mitigated by Federal and state laws mandating compensation for such loss and constitutional restraints. | ||||||||||||
The Company and its subsidiaries are involved in certain legal proceedings arising in the ordinary course of business and, as required, have accrued an estimate of the probable costs for the resolution of those claims for which the occurrence of loss is probable and the amount can be reasonably estimated. These estimates have been developed in consultation with counsel and are based upon an analysis of potential results, assuming a combination of litigation and settlement strategies. It is possible, however, that future results of operations for any particular period could be materially affected by changes in the Company's assumptions or the effectiveness of its strategies related to these proceedings. Additionally, due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company's financial condition or results of operations. | ||||||||||||
Although the Company is involved in a variety of legal proceedings in the ordinary course of business, a large portion of its litigation arises in the following contexts: commercial disputes; employment and benefits related claims; governmental fines; and tax disputes. | ||||||||||||
Stockholder Litigation | ||||||||||||
Two derivative lawsuits were filed in March 2012 in Delaware Chancery Court by stockholders of ours. The consolidated lawsuits were captioned In re Clear Channel Outdoor Holdings, Inc. Derivative Litigation, Consolidated Case No. 7315-CS. The complaints named as defendants certain of Clear Channel Communications' and the Company's current and former directors and Clear Channel Communications, as well as Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. We also were named as a nominal defendant. The complaints alleged, among other things, that in December 2009 Clear Channel Communications breached fiduciary duties to the Company and its stockholders by allegedly requiring the Company to agree to amend the terms of the Due from CCU Note to extend the maturity date of the Due from CCU Note and to amend the interest rate payable on the Due from CCU Note. According to the complaints, the terms of the amended Due from CCU Note were unfair to the Company because, among other things, the interest rate was below market. The complaints further alleged that Clear Channel Communications was unjustly enriched as a result of that transaction. The complaints also alleged that the director defendants breached fiduciary duties to the Company in connection with that transaction and that the transaction constituted corporate waste. On March 28, 2013, to avoid the costs, disruption and distraction of further litigation, and without admitting the validity of any allegations made in the complaint, legal counsel for the defendants entered into a binding memorandum of understanding (the “MOU”) with legal counsel for a special litigation committee consisting of the Company's independent directors and the plaintiffs to settle the litigation. On July 8, 2013, the parties executed a Stipulation of Settlement, on terms consistent with the MOU, and presented the Stipulation of Settlement to the Delaware Chancery Court for approval. The Company filed the Stipulation of Settlement with the SEC as an exhibit to its Current Report on Form 8-K filed on July 9, 2013. On September 9, 2013, the Delaware Chancery Court approved the settlement and, on October 9, 2013, the right to appeal expired. On October 19, 2013, in accordance with the terms of the settlement, the Company's board of directors (i) notified Clear Channel Communications of its intent to make a demand for repayment of $200 million outstanding under the Due from CCU Note on November 8, 2013, (ii) declared a dividend of $200 million, which was conditioned upon Clear Channel Communications satisfying such demand, and (iii) established a committee of the Company's board of directors for the specific purpose of monitoring the Due from CCU Note. On October 23, 2013, the Company and Clear Channel Communications amended the Due from CCU Note in accordance with the terms of the settlement. The Company announced its intent to make a demand for repayment of $200 million outstanding under the Due from CCU Note and its declaration of the dividend in its Current Report on Form 8-K filed on October 21, 2013, filed a copy of the amendment to the Due from CCU Note as an exhibit to its Current Report on Form 8-K filed on October 23, 2013 and announced the demand and dividend payment in its Current Report on Form 8-K filed on November 8, 2013. | ||||||||||||
Los Angeles Litigation | ||||||||||||
In 2008, Summit Media, LLC, one of the Company's competitors, sued the City of Los Angeles (the “City”), Clear Channel Outdoor, Inc. and CBS Outdoor in Los Angeles Superior Court (Case No. BS116611) challenging the validity of a settlement agreement that had been entered into in November 2006 among the parties. Pursuant to the settlement agreement, Clear Channel Outdoor, Inc. had taken down existing billboards and converted 83 existing signs from static displays to digital displays pursuant to modernization permits issued through an administrative process of the City. The Los Angeles Superior Court ruled in January 2010 that the settlement agreement constituted an ultra vires act of the City and nullified its existence, but did not invalidate the modernization permits issued to Clear Channel Outdoor, Inc. and CBS. All parties appealed the ruling by the Los Angeles Superior Court to Court of Appeal for the State of California, Second Appellate District, Division 8. On December 10, 2012, the Court of Appeal issued an order upholding the Superior Court's finding that the settlement agreement was ultra vires and remanding the case to the Superior Court for the purpose of invalidating the modernization permits issued to Clear Channel Outdoor, Inc. and CBS for the digital displays that were the subject of the settlement agreement. On January 22, 2013, Clear Channel Outdoor, Inc. filed a petition with the California Supreme Court requesting its review of the matter, and the Supreme Court denied that petition on February 27, 2013. On April 12, 2013, the Los Angeles Superior Court invalidated 82 digital modernization permits issued to Clear Channel Outdoor, Inc. (77 of which displays were operating at the time of the ruling) and 13 issued to CBS and ordered that the companies turn off the electrical power to affected digital displays by the close of business on April 15, 2013. Clear Channel Outdoor, Inc. has complied with the order. On April 16, 2013, the Court conducted further proceedings during which it held that it was not invalidating two additional digital modernization permits that Clear Channel Outdoor, Inc. had secured through a special zoning plan and confirmed that its April 12 order invalidated only digital modernization permits – no other types of permits the companies may have secured for the signs at issue. Summit Media, LLC filed a further motion requesting that the Court order the demolition of the 82 sign structures on which the now-invalidated digital signs operated, as well as the invalidation of several other permits for traditional signs allegedly issued under the settlement agreement. At a hearing held on November 22, 2013, the Court denied Summit Media, LLC's demolition motion by allowing the 82 sign structures and their LED faces to remain intact, thus allowing Clear Channel Outdoor, Inc. to seek permits under the existing City sign code to either wrap the LED faces with vinyl or convert the LED faces to traditional static signs. The Court further confirmed the invalidation of all permits issued under the settlement agreement. In anticipation of this order, Clear Channel Outdoor, Inc. had removed six static billboard facings solely permitted under the settlement agreement. At a hearing held on January 21, 2014, the Court denied Summit Media, LLC's motion for attorney's fees on the basis that Summit Media, LLC had a substantial financial interest in the outcome of the litigation and, therefore, was not entitled to fees under California's private attorney general statute. |
Guarantees
Guarantees | 12 Months Ended |
Dec. 31, 2013 | |
Guarantees [Abstract] | ' |
Guarantees [Text Block] | ' |
NOTE 7 – GUARANTEES | |
As of December 31, 2013, the Company had $69.4 million in letters of credit outstanding, of which $33.0 million of letters of credit were cash secured. Additionally, as of December 31, 2013, Clear Channel Communications had outstanding commercial standby letters of credit and surety bonds of $3.0 million and $44.2 million, respectively, held on behalf of the Company. These letters of credit and surety bonds relate to various operational matters, including insurance, bid and performance bonds, as well as other items. Letters of credit in the amount of $2.0 million are collateral in support of surety bonds and these amounts would only be drawn under the letter of credit in the event the associated surety bonds were funded and the Company did not honor its reimbursement obligation to the issuers. | |
In addition, as of December 31, 2013, the Company had outstanding bank guarantees of $57.4 million related to international subsidiaries, of which $13.3 million were backed by cash collateral. | |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions [Text Block] | ' |
NOTE 8 — RELATED PARTY TRANSACTIONS | |
The Company records net amounts due to or from Clear Channel Communications as “Due from/to Clear Channel Communications” on the consolidated balance sheets. The accounts represent the revolving promissory note issued by the Company to Clear Channel Communications and the revolving promissory note issued by Clear Channel Communications to the Company in the face amount of $1.0 billion, or if more or less than such amount, the aggregate unpaid principal amount of all advances. The accounts accrue interest pursuant to the terms of the promissory notes and are generally payable on demand or when they mature on December 15, 2017. | |
Included in the accounts are the net activities resulting from day-to-day cash management services provided by Clear Channel Communications. As a part of these services, the Company maintains collection bank accounts swept daily into accounts of Clear Channel Communications (after satisfying the funding requirements of the Trustee Accounts under the CCWH senior notes and the CCWH Subordinated Notes). In return, Clear Channel Communications funds the Company's controlled disbursement accounts as checks or electronic payments are presented for payment. The Company's claim in relation to cash transferred from its concentration account is on an unsecured basis and is limited to the balance of the “Due from Clear Channel Communications” account. | |
At December 31, 2013 and 2012, the asset recorded in “Due from Clear Channel Communications” on the consolidated balance sheet was $879.1 million and $729.2 million, respectively. At December 31, 2013, the fixed interest rate on the “Due from Clear Channel Communications” account was 6.5%, which is equal to the fixed interest rate on the CCWH Senior Notes. The net interest income for the years ended December 31, 2013, 2012 and 2011 was $54.2 million, $63.8 million and $45.5 million, respectively. For so long as Clear Channel Communications maintains significant control over the Company, a deterioration in the financial condition of Clear Channel Communications could have the effect of increasing the Company's borrowing costs or impairing the Company's access to capital markets. As of December 31, 2013, Clear Channel Communications had $708.2 million recorded as “Cash and cash equivalents” on its consolidated balance sheets. | |
The Company provides advertising space on its billboards for radio stations owned by Clear Channel Communications. For the years ended December 31, 2013, 2012 and 2011, the Company recorded $2.5 million, $1.2 million and $4.1 million in revenue for these advertisements, respectively. | |
Under the Corporate Services Agreement between Clear Channel Communications and the Company, Clear Channel Communications provides management services to the Company, which include, among other things: (i) treasury, payroll and other financial related services; (ii) certain executive officer services; (iii) human resources and employee benefits services; (iv) legal and related services; (v) information systems, network and related services; (vi) investment services; (vii) procurement and sourcing support services; and (viii) other general corporate services. These services are charged to the Company based on actual direct costs incurred or allocated by Clear Channel Communications based on headcount, revenue or other factors on a pro rata basis. For the years ended December 31, 2013, 2012, and 2011, the Company recorded $35.4 million, $35.9 million and $26.4 million as a component of corporate expense for these services, respectively. | |
Pursuant to the Tax Matters Agreement between Clear Channel Communications and the Company, the operations of the Company are included in a consolidated federal income tax return filed by Clear Channel Communications. The Company's provision for income taxes has been computed on the basis that the Company files separate consolidated federal income tax returns with its subsidiaries. Tax payments are made to Clear Channel Communications on the basis of the Company's separate taxable income. Tax benefits recognized on the Company's employee stock option exercises are retained by the Company. | |
The Company computes its deferred income tax provision using the liability method in accordance with the provisions of ASC 740-10, as if the Company was a separate taxpayer. Deferred tax assets and liabilities are determined based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be realized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely than not some portion or all of the asset will not be realized. The Company's provision for income taxes is further disclosed in Note 9. | |
Pursuant to the Employee Matters Agreement, the Company's employees participate in Clear Channel Communications' employee benefit plans, including employee medical insurance and a 401(k) retirement benefit plan. These costs are recorded as a component of selling, general and administrative expenses and were approximately $10.5 million, $11.5 million and $12.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Stock Purchases | |
On August 9, 2010, Clear Channel Communications announced that its board of directors approved a stock purchase program under which Clear Channel Communications or its subsidiaries may purchase up to an aggregate of $100 million of the Company's Class A common stock. The stock purchase program does not have a fixed expiration date and may be modified, suspended or terminated at any time at Clear Channel Communications' discretion. During 2011, CC Finco, a subsidiary of Clear Channel Communications, purchased 1,553,971 shares of the Company's Class A common stock through open market purchases for approximately $16.4 million. | |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Taxes [Text Block] | ' | |||||||||||||||
NOTE 9 — INCOME TAXES | ||||||||||||||||
The operations of the Company are included in a consolidated U.S. federal income tax return filed by Clear Channel Communications for pre-merger periods and CC Media Holdings for the post-merger periods. However, for financial reporting purposes, the Company's provision for income taxes has been computed on the basis that the Company files separate consolidated U.S. federal income tax returns with its subsidiaries. | ||||||||||||||||
Significant components of the provision for income tax benefit (expense) are as follows: | ||||||||||||||||
(In thousands) | Years Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Current - Federal | $ | -1,470 | $ | -465 | $ | -340 | ||||||||||
Current - foreign | -45,327 | -47,632 | -50,285 | |||||||||||||
Current - state | 772 | -2,129 | 5,936 | |||||||||||||
Total current expense | -46,025 | -50,226 | -44,689 | |||||||||||||
Deferred - Federal | 21,369 | 119,195 | -8,986 | |||||||||||||
Deferred - foreign | 8,278 | 28,502 | 13,708 | |||||||||||||
Deferred - state | 1,569 | 9,618 | -3,329 | |||||||||||||
Total deferred benefit | 31,216 | 157,315 | 1,393 | |||||||||||||
Income tax benefit (expense) | $ | -14,809 | $ | 107,089 | $ | -43,296 | ||||||||||
For the year ended December 31, 2013 the Company recorded current tax expense of $46.0 million as compared to $50.2 million for the 2012 year. The change in current tax was due primarily to reductions in state current tax expense due to the settlement of various examinations during 2013. | ||||||||||||||||
For the year ended December 31, 2012 the Company recorded current tax expense of $50.2 million as compared to $44.7 million for the 2011 year. The change in current tax was due primarily to reductions in state current tax in 2011 as a result of the settlement of various examinations during the period. | ||||||||||||||||
Deferred tax benefits decreased $126.1 million for the year ended December 31, 2013 compared to 2012, primarily due to a decrease in federal and state losses in 2013. | ||||||||||||||||
Deferred tax benefits increased $155.9 million for the year ended December 31, 2012 compared to 2011, primarily due to an increase in U.S. federal and state tax losses in 2012. In addition, in 2012 the Company recorded tax benefits in certain foreign jurisdictions for net operating losses that it expects to utilize in future periods. | ||||||||||||||||
Significant components of the Company's deferred tax liabilities and assets as of December 31, 2013 and 2012 are as follows (1): | ||||||||||||||||
(In thousands) | December 31, | December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||||
Deferred tax liabilities: | ||||||||||||||||
Intangibles and fixed assets | $ | 951,405 | $ | 949,507 | ||||||||||||
Equity in earnings | 1,062 | 482 | ||||||||||||||
Other investments | 6,486 | 3,009 | ||||||||||||||
Total deferred tax liabilities | 958,953 | 952,998 | ||||||||||||||
Deferred tax assets: | ||||||||||||||||
Accrued expenses | 17,791 | 11,181 | ||||||||||||||
Net operating loss carryforwards | 458,670 | 422,472 | ||||||||||||||
Bad debt reserves | 3,962 | 5,331 | ||||||||||||||
Other | 18,967 | 21,211 | ||||||||||||||
Total deferred tax assets | 499,390 | 460,195 | ||||||||||||||
Less: Valuation allowance | 180,284 | 179,807 | ||||||||||||||
Net deferred tax assets | 319,106 | 280,388 | ||||||||||||||
Net deferred tax liabilities | 639,847 | 672,610 | ||||||||||||||
Less: current portion of deferred tax asset (liability) | 16,303 | 458 | ||||||||||||||
Long-term net deferred tax liabilities | $ | 656,150 | $ | 673,068 | ||||||||||||
For comparability, the presentation of the balances at December 31, 2012 were adjusted to align to current year presentation of gross foreign deferred taxes and associated valuation allowances on our foreign subsidiaries. | ||||||||||||||||
The Company's net foreign deferred tax liabilities were $16.9 million and $27.4 million for the periods ended December 31, 2013 and 2012, respectively. | ||||||||||||||||
The deferred tax liabilities associated with intangibles and fixed assets primarily relates to the difference in book and tax basis of acquired billboard permits and tax deductible goodwill created from the Company's various stock acquisitions. In accordance with ASC 350-10, Intangibles—Goodwill and Other, the Company does not amortize its book basis in permits. As a result, this deferred tax liability will not reverse over time unless the Company recognizes future impairment charges related to its permits and tax deductible goodwill or sells its permits. As the Company continues to amortize its tax basis in its permits and tax deductible goodwill, the deferred tax liability will increase over time. | ||||||||||||||||
At December 31, 2013, the Company had recorded deferred tax assets for net operating loss carryforwards (tax effected) for federal and state income tax purposes of $287.8 million, expiring in various amounts through 2033. The Company had recorded deferred tax assets for foreign net operating loss carryforwards (tax effected) of approximately $170.8 million as offset in part by an associated valuation allowance of $156.8 million. The remaining deferred tax valuation allowance of $23.5 million offsets other foreign deferred tax assets that are not expected to be realized. Realization of these foreign deferred tax assets is dependent upon the Company's ability to generate future taxable income in appropriate tax jurisdictions to obtain benefits. Due to the Company's evaluation of negative factors including particular negative evidence of cumulative losses in these jurisdictions, the Company continues to record valuation allowances on the foreign deferred tax assets that are not expected to be realized. For its remaining gross deferred tax assets, the Company is relying on its assessment of deferred tax liabilities that will reverse in the same carryforward period and jurisdiction and are of the same character as the net operating loss carryforwards and temporary differences that give rise to the deferred tax assets. Any deferred tax liabilities associated with billboard permits and tax deductible goodwill intangible assets are not relied upon as these intangible assets have an indefinite life. | ||||||||||||||||
At December 31, 2013 and 2012, net deferred tax assets include a deferred tax asset of $15.3 million and $17.0 million, respectively, relating to stock-based compensation expense under ASC 718-10, Compensation—Stock Compensation. Full realization of this deferred tax asset requires stock options to be exercised at a price equaling or exceeding the sum of the grant price plus the fair value of the option at the grant date and restricted stock to vest at a price equaling or exceeding the fair market value at the grant date. Accordingly, there can be no assurance that the stock price of the Company's Common Stock will rise to levels sufficient to realize the entire deferred tax benefit currently reflected in our balance sheet. See Note 10 for additional discussion of ASC 718-10. | ||||||||||||||||
The reconciliation of income tax computed at the U.S. federal statutory tax rates to income tax benefit is: | ||||||||||||||||
(Amounts in thousands) | Years Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||
Income tax benefit (expense) at statutory rates | $ | 3,331 | 35% | $ | 93,205 | 35% | $ | -37,280 | 35% | |||||||
State income taxes, net of federal tax effect | 2,342 | 25% | 7,489 | 3% | 2,607 | -2% | ||||||||||
Foreign income taxes | -19,777 | -208% | 9,938 | 3% | -3,617 | 3% | ||||||||||
Nondeductible items | -613 | -7% | -679 | 0% | -550 | 1% | ||||||||||
Tax contingencies | -2,488 | -26% | 522 | 0% | -2,360 | 2% | ||||||||||
Other, net | 2,396 | 25% | -3,386 | -1% | -2,096 | 2% | ||||||||||
Income tax benefit (expense) | $ | -14,809 | -156% | $ | 107,089 | 40% | $ | -43,296 | 41% | |||||||
During 2013, the Company recorded tax expense of approximately $14.8 million. The 2013 income tax expense and (155.6)% effective tax rate were impacted primarily by the Company's benefits and charges from tax amounts associated with its foreign earnings that are taxed at rates different from the federal statutory rate and an inability to benefit from losses in certain foreign jurisdictions. In addition the Company recorded additional foreign deferred tax expense of $3.4 million on certain foreign earnings that are expected to be distributed in future periods from its Asia subsidiaries on which foreign withholding and other taxes have not previously been provided. Foreign income before income taxes was approximately $47.5 million for 2013. | ||||||||||||||||
During 2012, the Company recorded tax benefit of approximately $107.1 million. The 2012 income tax benefit and 40.2% effective tax rate were impacted primarily by the disposition of certain foreign subsidiaries that resulted in financial reporting gains that were not subject to tax in the foreign jurisdictions. In addition, the Company recorded tax benefits in certain foreign jurisdictions for net operating losses that it expects to utilize in future periods. Foreign income before income taxes was approximately $84.6 million for 2012. | ||||||||||||||||
During 2011, the Company recorded tax expense of approximately $43.3 million. The 2011 income tax expense and 40.6% effective tax rate were impacted primarily by the Company's inability to benefit losses in certain foreign jurisdictions as well as additional tax expense recorded for interest on uncertain tax positions. The effects of the items mentioned above were partially offset by a reduction in tax expense recorded during 2011 related to the settlement of U.S. Federal and state tax examinations during the year. Foreign income before income taxes was approximately $94.2 million for 2011. | ||||||||||||||||
All tax liabilities owed by the Company are paid by the Company or on behalf of the Company by Clear Channel Communications through an operating account that represents net amounts due to or from Clear Channel Communications. | ||||||||||||||||
The Company continues to record interest and penalties related to unrecognized tax benefits in current income tax expense. The total amount of interest accrued at December 31, 2013 and 2012, was $9.6 million and $8.0 million, respectively. The total amount of unrecognized tax benefits and accrued interest and penalties at December 31, 2013 and 2012, was $62.2 million and $53.8 million, respectively, of which $42.1 million and $45.8 million is included in “Other long-term liabilities.” Additionally, $4.1 million is included in “Accrued expenses” on the Company's consolidated balance sheet at December 31, 2013. In addition, $16.1 million and $8.1 million of unrecognized tax benefits are recorded net with the Company's deferred tax assets for its net operating losses as opposed to being recorded in “Other long-term liabilities” at December 31, 2013 and 2012, respectively. The total amount of unrecognized tax benefits at December 31, 2013 and 2012 that, if recognized, would impact the effective income tax rate is $45.4 million and $38.4 million, respectively. | ||||||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | ||||||||||||||||
(In thousands) | Years Ended December 31, | |||||||||||||||
Unrecognized Tax Benefits | 2013 | 2012 | ||||||||||||||
Balance at beginning of period | $ | 45,839 | $ | 40,078 | ||||||||||||
Increases for tax position taken in the current year | 9,454 | 8,349 | ||||||||||||||
Increases for tax positions taken in previous years | 6,124 | 8,051 | ||||||||||||||
Decreases for tax position taken in previous years | -638 | -4,368 | ||||||||||||||
Decreases due to settlements with tax authorities | -678 | -6,271 | ||||||||||||||
Decreases due to lapse of statute of limitations | -7,482 | - | ||||||||||||||
Balance at end of period | $ | 52,619 | $ | 45,839 | ||||||||||||
Pursuant to the Tax Matters Agreement between Clear Channel Communications and the Company, the operations of the Company are included in a consolidated U.S. federal income tax return filed by Clear Channel Communications. In addition, the Company and its subsidiaries file income tax returns in various state and foreign jurisdictions. During 2013, the Company reversed $7.9 million in liabilities, inclusive of interest, as a result of the statute of limitations expiring in certain state and foreign jurisdictions. During 2012, the Company settled an examination in the United Kingdom and as a result of the settlement paid approximately $7.2 million in tax and interest. All federal income tax matters through 2008 are closed and the IRS is currently auditing the Company's 2009 and 2010 periods. Substantially all material state, local, and foreign income tax matters have been concluded for years through 2005. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Shareholders' Equity Assumptions [Abstract] | ' | |||||||||
Shareholders' Equity [Text Block] | ' | |||||||||
NOTE 10 – SHAREHOLDERS' EQUITY | ||||||||||
The Company reports its noncontrolling interests in consolidated subsidiaries as a component of equity separate from the Company's equity. The following table shows the changes in shareholders' equity attributable to the Company and the noncontrolling interests of subsidiaries in which the Company has a majority, but not total ownership interest: | ||||||||||
(In thousands) | The Company | Noncontrolling Interests | Consolidated | |||||||
Balances at January 1, 2013 | $ | 198,155 | $ | 247,934 | $ | 446,089 | ||||
Net income (loss) | -48,460 | 24,134 | -24,326 | |||||||
Dividends paid | -200,010 | - | -200,010 | |||||||
Dividends and other payments to noncontrolling interests | - | -68,441 | -68,441 | |||||||
Foreign currency translation adjustments | -7,460 | -2,194 | -9,654 | |||||||
Unrealized holding gain on marketable securities | 1,187 | - | 1,187 | |||||||
Other adjustments to comprehensive loss | 6,732 | - | 6,732 | |||||||
Other, net | 9,350 | 613 | 9,963 | |||||||
Reclassifications | -1,432 | - | -1,432 | |||||||
Balances at December 31, 2013 | $ | -41,938 | $ | 202,046 | $ | 160,108 | ||||
Balances at January 1, 2012 | $ | 2,508,697 | $ | 231,530 | $ | 2,740,227 | ||||
Net income (loss) | -183,112 | 23,902 | -159,210 | |||||||
Dividends paid | -2,170,396 | - | -2,170,396 | |||||||
Foreign currency translation adjustments | 33,782 | 1,703 | 35,485 | |||||||
Unrealized holding gain (loss) on marketable securities | -2,573 | - | -2,573 | |||||||
Other adjustments to comprehensive loss | 1,135 | - | 1,135 | |||||||
Other, net | 8,577 | -9,201 | -624 | |||||||
Reclassifications | 2,045 | - | 2,045 | |||||||
Balances at December 31, 2012 | $ | 198,155 | $ | 247,934 | $ | 446,089 | ||||
Share-Based Awards | ||||||||||
Stock Options | ||||||||||
The Company has granted options to purchase shares of its Class A common stock to employees and directors of the Company and its affiliates under its equity incentive plan at no less than the fair value of the underlying stock on the date of grant. These options are granted for a term not exceeding ten years and are forfeited, except in certain circumstances, in the event the employee or director terminates his or her employment or relationship with the Company or one of its affiliates. These options vest solely on continued service over a period of up to five years. The equity incentive plan contains anti-dilutive provisions that permit an adjustment of the number of shares of the Company's common stock represented by each option for any change in capitalization. The Company determined that the CCOH Dividend discussed in Note 5 was considered a change in capitalization and therefore adjusted outstanding options as of March 15, 2012. No incremental compensation cost was recognized in connection with the adjustment. | ||||||||||
The Company accounts for its share-based payments using the fair value recognition provisions of ASC 718-10. The fair value of the options is estimated using a Black-Scholes option-pricing model and amortized straight-line to expense over the vesting period. ASC 718-10 requires the cash flows from the tax benefits resulting from tax deductions in excess of the compensation cost recognized for those options (excess tax benefits) to be classified as financing cash flows. The excess tax benefit that is required to be classified as a financing cash inflow after application of ASC 718-10 is not material. | ||||||||||
The fair value of each option awarded is estimated on the date of grant using a Black-Scholes option-pricing model. Expected volatilities are based on historical volatility of the Company's stock over the expected life of the options. The expected life of options granted represents the period of time that options granted are expected to be outstanding. The Company uses historical data to estimate option exercise and employee terminations within the valuation model. The Company includes estimated forfeitures in its compensation cost and updates the estimated forfeiture rate through the final vesting date of awards. The risk free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods equal to the expected life of the option. The following assumptions were used to calculate the fair value of the Company's options on the date of grant: | ||||||||||
Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Expected volatility | 55% – 56% | 54% – 56% | 57% | |||||||
Expected life in years | 6.3 | 6.3 | 6.3 | |||||||
Risk-free interest rate | 1.05% – 2.19% | 0.92% – 1.48% | 1.26% – 2.75% | |||||||
Dividend yield | 0% | 0% | 0% | |||||||
The following table presents a summary of the Company's stock options outstanding at and stock option activity during the year ended December 31, 2013 (“Price” reflects the weighted average exercise price per share): | ||||||||||
(In thousands, except per share data) | Options | Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | ||||||
Outstanding, January 1, 2013 | 8,381 | $ | 9.22 | |||||||
Granted (1) | 517 | 7.78 | ||||||||
Exercised (2) | -1,088 | 3.89 | ||||||||
Forfeited | -226 | 7.11 | ||||||||
Expired | -675 | 13.58 | ||||||||
Outstanding, December 31, 2013 | 6,909 | 9.6 | 5.9 years | $15,545 | ||||||
Exercisable | 4,264 | 10.9 | 4.7 years | $8,581 | ||||||
Expected to vest | 2,514 | 7.49 | 7.9 years | $6,660 | ||||||
The weighted average grant date fair value of the Company's options granted during the years ended December 31, 2013, 2012 and 2011 was $4.10, $4.43 and $8.30 per share, respectively. | ||||||||||
Cash received from option exercises during the years ended December 31, 2013, 2012 and 2011 was $4.2 million, $6.4 million and $1.4 million, respectively. The total intrinsic value of the options exercised during the years ended December 31, 2013, 2012 and 2011 was $5.0 million, $7.9 million and $1.5 million, respectively. | ||||||||||
A summary of the Company's unvested options at and changes during the year ended December 31, 2013 is presented below: | ||||||||||
(In thousands, except per share data) | Options | Weighted Average Grant Date Fair Value | ||||||||
Unvested, January 1, 2013 | 3,833 | $ | 5.19 | |||||||
Granted | 517 | 4.1 | ||||||||
Vested (1) | -1,479 | 4.8 | ||||||||
Forfeited | -226 | 5.21 | ||||||||
Unvested, December 31, 2013 | 2,645 | 5.21 | ||||||||
The total fair value of the Company's options vested during the years ended December 31, 2013, 2012 and 2011 was $7.1 million, $11.5 million and $8.2 million, respectively. | ||||||||||
Restricted Stock Awards | ||||||||||
The Company has also granted both restricted stock and restricted stock unit awards to its employees and affiliates under its equity incentive plan. The restricted stock awards represent shares of Class A common stock that hold a legend which restricts their transferability for a term of up to five years. The restricted stock units represent the right to receive shares upon vesting, which is generally over a period of up to five years. Both restricted stock awards and restricted stock units are forfeited, except in certain circumstances, in the event the employee terminates his or her employment or relationship with the Company prior to the lapse of the restriction. | ||||||||||
The following table presents a summary of the Company's restricted stock and restricted stock units outstanding at and activity during the year ended December 31, 2013 (“Price” reflects the weighted average share price at the date of grant): | ||||||||||
(In thousands, except per share data) | Awards | Price | ||||||||
Outstanding, January 1, 2013 | 1,085 | $ | 6.26 | |||||||
Granted | 1,105 | 7.51 | ||||||||
Vested (restriction lapsed) | -15 | 6.61 | ||||||||
Forfeited | -283 | 7.15 | ||||||||
Outstanding, December 31, 2013 | 1,892 | 6.83 | ||||||||
Share-Based Compensation Cost | ||||||||||
The share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense on a straight-line basis over the vesting period. Share-based compensation payments are recorded in corporate expenses and were $7.7 million, $10.6 million and $10.9 million, during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||
The tax benefit related to the share-based compensation expense for the years ended December 31, 2013, 2012 and 2011 was $3.0 million, $4.1 million and $4.3 million, respectively. | ||||||||||
As of December 31, 2013, there was $17.5 million of unrecognized compensation cost related to unvested share-based compensation arrangements that will vest based on service conditions. This cost is expected to be recognized over a weighted average period of approximately three years. In addition, as of December 31, 2013, there was $0.6 million of unrecognized compensation cost related to unvested share-based compensation arrangements that will vest based on market, performance and service conditions. This cost will be recognized when it becomes probable that the performance condition will be satisfied. | ||||||||||
(In thousands, except per share data) | Years Ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
NUMERATOR: | ||||||||||
Net income (loss) attributable to the Company – common shares | $ | -48,460 | $ | -183,112 | $ | 42,946 | ||||
Less: Participating securities dividends | 2,566 | 8,456 | 2,972 | |||||||
Net income (loss) attributable to the Company per common share – basic and diluted | $ | -51,026 | $ | -191,568 | $ | 39,974 | ||||
DENOMINATOR: | ||||||||||
Weighted average common shares outstanding – basic | 357,662 | 356,915 | 355,907 | |||||||
Effect of dilutive securities: | ||||||||||
Stock options and restricted stock awards (1) | - | - | 621 | |||||||
Weighted average common shares outstanding – diluted | 357,662 | 356,915 | 356,528 | |||||||
Net income (loss) attributable to the Company per common share: | ||||||||||
Basic | $ | -0.14 | $ | -0.54 | $ | 0.11 | ||||
Diluted | $ | -0.14 | $ | -0.54 | $ | 0.11 | ||||
8.8 million, 9.5 million and 6.0 million stock options were outstanding at December 31, 2013, 2012 and 2011, respectively, that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive. | ||||||||||
Employee_Stock_and_Savings_Pla
Employee Stock and Savings Plans | 12 Months Ended |
Dec. 31, 2013 | |
Employee Stock and Savings Plans [Abstract] | ' |
Employee Stock and Savings Plans [Text Block] | ' |
NOTE 11 – EMPLOYEE STOCK AND SAVINGS PLANS | |
The Company's U.S. employees are eligible to participate in various 401(k) savings and other plans provided by Clear Channel Communications for the purpose of providing retirement benefits for substantially all employees. Under these plans, a Company employee can make pre-tax contributions and the Company will match 50% of the employee's first 5% of pay contributed to the plan. Employees vest in these Company matching contributions based upon their years of service to the Company. Contributions to these plans of $2.4 million, $2.4 million and $2.3 million for the years ended December 31, 2013, 2012 and 2011, respectively, were recorded as a component of operating expenses. The Company suspended the matching contribution as of April 30, 2009 and reinstated the matching contribution effective April 1, 2010 retroactive to January 1, 2010. | |
In addition, employees in the Company's International segment participate in retirement plans administered by the Company which are not part of the 401(k) savings and other plans sponsored by Clear Channel Communications. Contributions to these plans of $10.6 million, $13.8 million and $12.1 million for the years ended December 31, 2013, 2012 and 2011, respectively, were recorded as a component of operating expenses. | |
Certain highly compensated executives of the Company are eligible to participate in a non-qualified deferred compensation plan sponsored by Clear Channel Communications, under which such executives were able to make an annual election to defer up to 50% of their annual salary and up to 80% of their bonus before taxes. The Company suspended all salary and bonus deferral and company matching contributions to the deferred compensation plan on January 1, 2010. Matching credits on amounts deferred may be made in the sole discretion of Clear Channel Communications and Clear Channel Communications retains ownership of all assets until distributed. Participants in the plan have the opportunity to allocate their deferrals and any matching credits among different investment options, the performance of which is used to determine the amounts paid to participants under the plan. There is no liability recorded by the Company under this deferred compensation plan as the liability of this plan is that of Clear Channel Communications. |
Other_Information
Other Information | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Other Information [Abstract] | ' | |||||||||
Other Information [Text Block] | ' | |||||||||
NOTE 12 — OTHER INFORMATION | ||||||||||
The following table discloses the components of “Other income (expense)” for the years ended December 31, 2013, 2012 and 2011, respectively: | ||||||||||
(In thousands) | Years Ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
Foreign exchange loss | $ | 1,674 | $ | -869 | $ | 796 | ||||
Other | -658 | 505 | -1,445 | |||||||
Total other income (expense) — net | $ | 1,016 | $ | -364 | $ | -649 | ||||
The following table discloses the components of “Other current assets” as of December 31, 2013 and 2012, respectively: | ||||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Deferred loan costs | $ | 7,982 | $ | 8,000 | ||||||
Inventory | 24,857 | 20,094 | ||||||||
Deferred tax asset | 16,303 | 458 | ||||||||
Deposits | 3,862 | 4,108 | ||||||||
Other receivables | 5,388 | 4,264 | ||||||||
Other | 9,941 | 4,188 | ||||||||
Total other current assets | $ | 68,333 | $ | 41,112 | ||||||
The following table discloses the components of “Other assets” as of December 31, 2013 and 2012, respectively: | ||||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Prepaid expenses | $ | 60,667 | $ | 70,586 | ||||||
Deferred loan costs | 50,038 | 57,696 | ||||||||
Deposits | 24,308 | 22,401 | ||||||||
Investments | 17,420 | 16,886 | ||||||||
Other | 2,482 | 1,520 | ||||||||
Total other assets | $ | 154,915 | $ | 169,089 | ||||||
The following table discloses the components of “Other current liabilities” as of December 31, 2013 and 2012, respectively: | ||||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Redeemable noncontrolling interest | $ | - | $ | 60,950 | ||||||
Total other current liabilities | $ | - | $ | 60,950 | ||||||
The following table discloses the components of “Other long-term liabilities” as of December 31, 2013 and 2012, respectively: | ||||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Unrecognized tax benefits | $ | 42,070 | $ | 45,769 | ||||||
Asset retirement obligation | 54,832 | 52,571 | ||||||||
Employee related liabilities | 31,617 | 24,265 | ||||||||
Deferred rent | 92,512 | 86,611 | ||||||||
Other | 29,136 | 30,616 | ||||||||
Total other long-term liabilities | $ | 250,167 | $ | 239,832 | ||||||
The following table discloses the components of “Accumulated other comprehensive loss,” net of tax, as of December 31, 2013 and 2012, respectively: | ||||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Cumulative currency translation adjustments and other | $ | -214,801 | $ | -212,641 | ||||||
Cumulative unrealized gain on securities | 1,229 | 42 | ||||||||
Total accumulated other comprehensive loss | $ | -213,572 | $ | -212,599 |
Segment_Data
Segment Data | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Data [Abstract] | ' | ||||||||||||
Segment Data [Text Block] | ' | ||||||||||||
NOTE 13 – SEGMENT DATA | |||||||||||||
The Company has two reportable segments, which it believes best reflect how the Company is currently managed – Americas and International. The Americas segment consists of operations primarily in the United States and Canada, and the International segment primarily includes operations in Europe, Asia, Australia and Latin America. The Americas and International display inventory consists primarily of billboards, street furniture displays and transit displays. Corporate includes infrastructure and support including information technology, human resources, legal, finance and administrative functions of each of the Company's reportable segments, as well as overall executive, administrative and support functions. Share-based payments are recorded in corporate expenses. | |||||||||||||
During the first quarter of 2012, the Company recast its segment reporting, as discussed in Note 1. The following table presents the Company's reportable segment results for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
(In thousands) | Americas Outdoor Advertising | International Outdoor Advertising | Corporate and other reconciling items | Consolidated | |||||||||
Year Ended December 31, 2013 | |||||||||||||
Revenue | $ | 1,290,452 | $ | 1,655,738 | $ | - | $ | 2,946,190 | |||||
Direct operating expenses | 566,669 | 1,028,059 | - | 1,594,728 | |||||||||
Selling, general and administrative expenses | 220,732 | 322,840 | - | 543,572 | |||||||||
Depreciation and amortization | 196,597 | 203,927 | 2,646 | 403,170 | |||||||||
Impairment charges | - | - | 13,150 | 13,150 | |||||||||
Corporate expenses | - | - | 124,399 | 124,399 | |||||||||
Other operating income, net | - | - | 22,979 | 22,979 | |||||||||
Operating income (loss) | $ | 306,454 | $ | 100,912 | $ | -117,216 | $ | 290,150 | |||||
Segment assets | $ | 3,693,308 | $ | 2,029,687 | $ | 1,036,397 | $ | 6,759,392 | |||||
Capital expenditures | $ | 88,991 | $ | 108,548 | $ | 8,648 | $ | 206,187 | |||||
Share-based compensation expense | $ | - | $ | - | $ | 7,725 | $ | 7,725 | |||||
Year Ended December 31, 2012 | |||||||||||||
Revenue | $ | 1,279,257 | $ | 1,667,687 | $ | - | $ | 2,946,944 | |||||
Direct operating expenses | 582,340 | 1,021,152 | - | 1,603,492 | |||||||||
Selling, general and administrative expenses | 211,245 | 363,417 | - | 574,662 | |||||||||
Depreciation and amortization | 192,023 | 205,258 | 1,983 | 399,264 | |||||||||
Impairment charges | - | - | 37,651 | 37,651 | |||||||||
Corporate expenses | - | - | 115,832 | 115,832 | |||||||||
Other operating income, net | - | - | 50,943 | 50,943 | |||||||||
Operating income (loss) | $ | 293,649 | $ | 77,860 | $ | -104,523 | $ | 266,986 | |||||
Segment assets | $ | 3,835,235 | $ | 2,256,309 | $ | 1,014,238 | $ | 7,105,782 | |||||
Capital expenditures | $ | 117,647 | $ | 150,129 | $ | 7,801 | $ | 275,577 | |||||
Share-based compensation expense | $ | - | $ | - | $ | 10,589 | $ | 10,589 | |||||
Year Ended December 31, 2011 | |||||||||||||
Revenue | $ | 1,252,725 | $ | 1,751,149 | $ | - | $ | 3,003,874 | |||||
Direct operating expenses | 566,313 | 1,064,562 | - | 1,630,875 | |||||||||
Selling, general and administrative expenses | 198,989 | 339,043 | - | 538,032 | |||||||||
Depreciation and amortization | 211,009 | 219,955 | 1,071 | 432,035 | |||||||||
Impairment charges | - | - | 7,614 | 7,614 | |||||||||
Corporate expenses | - | - | 100,971 | 100,971 | |||||||||
Other operating income, net | - | - | 8,591 | 8,591 | |||||||||
Operating income (loss) | $ | 276,414 | $ | 127,589 | $ | -101,065 | $ | 302,938 | |||||
Segment assets | $ | 3,886,098 | $ | 2,166,173 | $ | 1,035,914 | $ | 7,088,185 | |||||
Capital expenditures | $ | 122,505 | $ | 166,044 | $ | 4,194 | $ | 292,743 | |||||
Share-based compensation expense | $ | - | $ | - | $ | 10,913 | $ | 10,913 | |||||
Revenue of $1.7 billion, $1.7 billion and $1.8 billion derived from the Company's foreign operations are included in the data above for the years ended December 31, 2013, 2012 and 2011, respectively. Revenue of $1.2 billion, derived from the Company's U.S. operations are included in the data above for each of the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Identifiable long-lived assets of $759.3 million, $803.7 million and $796.3 million derived from the Company's foreign operations are included in the data above for the years ended December 31, 2013, 2012 and 2011, respectively. Identifiable long-lived assets of $1.3 billion, $1.4 billion and $1.5 billion derived from the Company's U.S. operations are included in the data above for the years ended December 31, 2013, 2012 and 2011, respectively |
Quarterly_Results_of_Operation
Quarterly Results of Operations (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Quarterly Results of Operations (Unaudited) [Abstract] | ' | ||||||||||||||||||||||||
Quarterly Results of Operations (Unaudited) [Text Block] | ' | ||||||||||||||||||||||||
NOTE 14 — QUARTERLY RESULTS OF OPERATIONS (Unaudited) | |||||||||||||||||||||||||
(In thousands, except per share data) | |||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended June 30, | Three Months Ended September 30, | Three Months Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Revenue | $ | 650,210 | $ | 651,283 | $ | 766,871 | $ | 761,326 | $ | 723,013 | $ | 731,141 | $ | 806,096 | $ | 803,194 | |||||||||
Operating expenses: | |||||||||||||||||||||||||
Direct operating expenses | 386,191 | 391,718 | 399,558 | 405,314 | 396,094 | 390,639 | 412,885 | 415,821 | |||||||||||||||||
Selling, general and administrative expenses | 139,561 | 152,343 | 133,020 | 131,752 | 131,437 | 136,582 | 139,554 | 153,985 | |||||||||||||||||
Corporate expenses | 27,824 | 27,451 | 33,892 | 29,952 | 29,719 | 28,820 | 32,964 | 29,609 | |||||||||||||||||
Depreciation and amortization | 100,327 | 92,337 | 97,566 | 99,668 | 98,344 | 100,352 | 106,933 | 106,907 | |||||||||||||||||
Impairment charges | - | - | - | - | - | - | 13,150 | 37,651 | |||||||||||||||||
Other operating income, net | 2,103 | 4,003 | 3,697 | 2,746 | 6,604 | 42,397 | 10,575 | 1,797 | |||||||||||||||||
Operating income (loss) | -1,590 | -8,563 | 106,532 | 97,386 | 74,023 | 117,145 | 111,185 | 61,018 | |||||||||||||||||
Interest expense | 88,093 | 67,831 | 88,063 | 102,953 | 87,969 | 102,612 | 88,658 | 100,480 | |||||||||||||||||
Interest income on Due from Clear Channel Communications | 11,920 | 15,980 | 12,496 | 16,089 | 14,940 | 16,913 | 14,854 | 14,779 | |||||||||||||||||
Loss on marketable securities | - | - | - | - | -18 | - | - | -2,578 | |||||||||||||||||
Equity in earnings (loss) of nonconsolidated affiliates | -485 | 421 | 169 | -157 | -645 | -234 | -1,131 | 813 | |||||||||||||||||
Loss on extinguishment of debt | - | - | - | - | - | - | - | -221,071 | |||||||||||||||||
Other income (expense), net | -907 | -494 | -310 | -1,631 | 1,445 | 1,825 | 788 | -64 | |||||||||||||||||
Income (loss) before income taxes | -79,155 | -60,487 | 30,824 | 8,734 | 1,776 | 33,037 | 37,038 | -247,583 | |||||||||||||||||
Income tax benefit (expense) | 5,006 | 15,294 | -12,094 | -8,082 | 10,214 | -8,212 | -17,935 | 108,089 | |||||||||||||||||
Consolidated net income (loss) | -74,149 | -45,193 | 18,730 | 652 | 11,990 | 24,825 | 19,103 | -139,494 | |||||||||||||||||
Less amount attributable to noncontrolling interest | 129 | -1,323 | 9,822 | 8,768 | 7,772 | 7,541 | 6,411 | 8,916 | |||||||||||||||||
Net income (loss) attributable to the Company | $ | -74,278 | $ | -43,870 | $ | 8,908 | $ | -8,116 | $ | 4,218 | $ | 17,284 | $ | 12,692 | $ | -148,410 | |||||||||
Net income (loss) per common share: | |||||||||||||||||||||||||
Basic | $ | -0.22 | $ | -0.14 | $ | 0.02 | $ | -0.02 | $ | 0.01 | $ | 0.05 | $ | 0.04 | $ | -0.42 | |||||||||
Diluted | $ | -0.22 | $ | -0.14 | $ | 0.02 | $ | -0.02 | $ | 0.01 | $ | 0.05 | $ | 0.04 | $ | -0.42 |
Guarantor_Subsidiaries
Guarantor Subsidiaries | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Guarantor Subsidiaries [Abstract] | ' | ||||||||||||||||||
Guarantor Subsidiaries [Text Block] | ' | ||||||||||||||||||
NOTE 15 – GUARANTOR SUBSIDIARIES | |||||||||||||||||||
The Company and certain of the Company's direct and indirect wholly-owned domestic subsidiaries (the “Guarantor Subsidiaries”) fully and unconditionally guarantee on a joint and several basis certain of the outstanding indebtedness of CCWH (the “Subsidiary Issuer”). The following consolidating schedules present financial information on a combined basis in conformity with the SEC's Regulation S-X Rule 3-10(d): | |||||||||||||||||||
(In thousands) | 31-Dec-13 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash and cash equivalents | $ | 83,185 | $ | - | $ | 5,885 | $ | 225,475 | $ | - | $ | 314,545 | |||||||
Accounts receivable, net of allowance | - | - | 208,029 | 504,106 | - | 712,135 | |||||||||||||
Intercompany receivables | - | 186,659 | 1,592,228 | - | -1,778,887 | - | |||||||||||||
Prepaid expenses | 1,390 | - | 71,730 | 70,295 | - | 143,415 | |||||||||||||
Other current assets | 3 | 6,850 | 20,333 | 41,147 | - | 68,333 | |||||||||||||
Total Current Assets | 84,578 | 193,509 | 1,898,205 | 841,023 | -1,778,887 | 1,238,428 | |||||||||||||
Structures, net | - | - | 1,142,094 | 623,416 | - | 1,765,510 | |||||||||||||
Other property, plant and equipment, net | - | - | 178,149 | 137,439 | - | 315,588 | |||||||||||||
Indefinite-lived intangibles | - | - | 1,055,728 | 12,055 | - | 1,067,783 | |||||||||||||
Other intangibles, net | - | - | 344,178 | 143,748 | - | 487,926 | |||||||||||||
Goodwill | - | - | 571,932 | 278,202 | - | 850,134 | |||||||||||||
Due from Clear Channel Communications | 879,108 | - | - | - | - | 879,108 | |||||||||||||
Intercompany notes receivable | 182,026 | 5,002,517 | - | - | -5,184,543 | - | |||||||||||||
Other assets | 408,083 | 871,363 | 1,373,504 | 61,626 | -2,559,661 | 154,915 | |||||||||||||
Total Assets | $ | 1,553,795 | $ | 6,067,389 | $ | 6,563,790 | $ | 2,097,509 | $ | -9,523,091 | $ | 6,759,392 | |||||||
Accounts payable | $ | - | $ | - | $ | 11,742 | $ | 74,140 | $ | - | $ | 85,882 | |||||||
Intercompany payable | 1,586,370 | - | 186,659 | 5,858 | -1,778,887 | - | |||||||||||||
Accrued expenses | 725 | 1,342 | 105,909 | 455,790 | - | 563,766 | |||||||||||||
Deferred income | - | - | 42,591 | 65,352 | - | 107,943 | |||||||||||||
Current portion of long-term debt | - | - | 47 | 15,952 | - | 15,999 | |||||||||||||
Total Current Liabilities | 1,587,095 | 1,342 | 346,948 | 617,092 | -1,778,887 | 773,590 | |||||||||||||
Long-term debt | - | 4,918,243 | 1,134 | - | - | 4,919,377 | |||||||||||||
Intercompany notes payable | - | - | 5,025,497 | 159,046 | -5,184,543 | - | |||||||||||||
Deferred tax liability | 175 | 85 | 638,141 | 17,749 | - | 656,150 | |||||||||||||
Other long-term liabilities | - | - | 143,925 | 106,242 | - | 250,167 | |||||||||||||
Total shareholders' equity | -33,475 | 1,147,719 | 408,145 | 1,197,380 | -2,559,661 | 160,108 | |||||||||||||
Total Liabilities and Shareholders' Equity | $ | 1,553,795 | $ | 6,067,389 | $ | 6,563,790 | $ | 2,097,509 | $ | -9,523,091 | $ | 6,759,392 | |||||||
(In thousands) | 31-Dec-12 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash and cash equivalents | $ | 207,411 | $ | - | $ | - | $ | 359,361 | $ | -4,793 | $ | 561,979 | |||||||
Accounts receivable, net of allowance | - | - | 258,727 | 495,931 | - | 754,658 | |||||||||||||
Intercompany receivables | - | - | 1,407,392 | - | -1,407,392 | - | |||||||||||||
Prepaid expenses | 2,109 | - | 70,822 | 78,666 | - | 151,597 | |||||||||||||
Other current assets | 9 | 6,850 | 4,231 | 30,022 | - | 41,112 | |||||||||||||
Total Current Assets | 209,529 | 6,850 | 1,741,172 | 963,980 | -1,412,185 | 1,509,346 | |||||||||||||
Structures, net | - | - | 1,231,465 | 659,228 | - | 1,890,693 | |||||||||||||
Other property, plant and equipment, net | - | - | 170,741 | 146,310 | - | 317,051 | |||||||||||||
Indefinite-lived intangibles | - | - | 1,055,168 | 15,552 | - | 1,070,720 | |||||||||||||
Other intangibles, net | - | - | 359,460 | 198,018 | - | 557,478 | |||||||||||||
Goodwill | - | - | 571,933 | 290,315 | - | 862,248 | |||||||||||||
Due from Clear Channel Communications | 729,157 | - | - | - | - | 729,157 | |||||||||||||
Intercompany notes receivable | 182,026 | 5,129,823 | - | - | -5,311,849 | - | |||||||||||||
Other assets | 457,872 | 883,895 | 1,389,289 | 62,271 | -2,624,238 | 169,089 | |||||||||||||
Total Assets | $ | 1,578,584 | $ | 6,020,568 | $ | 6,519,228 | $ | 2,335,674 | $ | -9,348,272 | $ | 7,105,782 | |||||||
Accounts payable | $ | - | $ | - | $ | 13,891 | $ | 86,417 | $ | -4,793 | $ | 95,515 | |||||||
Intercompany payable | 1,373,828 | 15,730 | - | 17,834 | -1,407,392 | - | |||||||||||||
Accrued expenses | 394 | -73,766 | 173,024 | 438,847 | - | 538,499 | |||||||||||||
Deferred income | - | - | 50,153 | 56,881 | - | 107,034 | |||||||||||||
Other current liabilities | - | - | - | 60,950 | - | 60,950 | |||||||||||||
Current portion of long-term debt | - | - | 41 | 9,366 | - | 9,407 | |||||||||||||
Total Current Liabilities | 1,374,222 | -58,036 | 237,109 | 670,295 | -1,412,185 | 811,405 | |||||||||||||
Long-term debt | - | 4,917,702 | 1,182 | 16,504 | - | 4,935,388 | |||||||||||||
Intercompany notes payable | 6,042 | - | 5,036,422 | 269,385 | -5,311,849 | - | |||||||||||||
Deferred tax liability | 226 | 85 | 644,521 | 28,236 | - | 673,068 | |||||||||||||
Other long-term liabilities | - | - | 142,061 | 97,771 | - | 239,832 | |||||||||||||
Total shareholders' equity | 198,094 | 1,160,817 | 457,933 | 1,253,483 | -2,624,238 | 446,089 | |||||||||||||
Total Liabilities and Shareholders' Equity | $ | 1,578,584 | $ | 6,020,568 | $ | 6,519,228 | $ | 2,335,674 | $ | -9,348,272 | $ | 7,105,782 | |||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Revenue | $ | - | $ | - | $ | 1,197,261 | $ | 1,748,929 | $ | - | $ | 2,946,190 | |||||||
Operating expenses: | |||||||||||||||||||
Direct operating expenses | - | - | 506,200 | 1,088,528 | - | 1,594,728 | |||||||||||||
Selling, general and administrative expenses | - | - | 205,240 | 338,332 | - | 543,572 | |||||||||||||
Corporate expenses | 13,057 | 3 | 64,987 | 46,352 | - | 124,399 | |||||||||||||
Depreciation and amortization | - | - | 194,793 | 208,377 | - | 403,170 | |||||||||||||
Impairment charge | - | - | - | 13,150 | - | 13,150 | |||||||||||||
Other operating income (expense), net | -494 | - | 28,129 | -4,656 | - | 22,979 | |||||||||||||
Operating income (loss) | -13,551 | -3 | 254,170 | 49,534 | - | 290,150 | |||||||||||||
Interest (income) expense, net | -143 | 353,189 | 993 | -1,256 | - | 352,783 | |||||||||||||
Interest income on Due from Clear Channel Communications | 54,210 | - | - | - | - | 54,210 | |||||||||||||
Intercompany interest income | 15,112 | 341,612 | 54,857 | - | -411,581 | - | |||||||||||||
Intercompany interest expense | 54,436 | - | 356,724 | 421 | -411,581 | - | |||||||||||||
Loss on marketable securities | - | - | - | -18 | - | -18 | |||||||||||||
Equity in loss of nonconsolidated affiliates | -50,279 | -12,274 | -12,216 | -3,588 | 76,265 | -2,092 | |||||||||||||
Other income (expense), net | 1,432 | - | -9,760 | 9,344 | - | 1,016 | |||||||||||||
Income (loss) before income taxes | -47,369 | -23,854 | -70,666 | 56,107 | 76,265 | -9,517 | |||||||||||||
Income tax benefit (expense) | -1,091 | 4,184 | 20,387 | -38,289 | - | -14,809 | |||||||||||||
Consolidated net income (loss) | -48,460 | -19,670 | -50,279 | 17,818 | 76,265 | -24,326 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | 24,134 | - | 24,134 | |||||||||||||
Net loss attributable to the Company | $ | -48,460 | $ | -19,670 | $ | -50,279 | $ | -6,316 | $ | 76,265 | $ | -48,460 | |||||||
Other comprehensive (loss), net of tax: | |||||||||||||||||||
Foreign currency translation adjustments | -31 | -20 | -7,214 | -2,389 | - | -9,654 | |||||||||||||
Unrealized holding gain on marketable securities | - | - | - | 1,187 | - | 1,187 | |||||||||||||
Other adjustments to comprehensive loss | - | - | - | 6,732 | - | 6,732 | |||||||||||||
Reclassification adjustment for realized loss on marketable securities included in consolidated net income (loss) | -1,432 | - | - | - | - | -1,432 | |||||||||||||
Equity in subsidiary comprehensive income | 490 | 9,159 | 7,704 | - | -17,353 | - | |||||||||||||
Comprehensive loss | -49,433 | -10,531 | -49,789 | -786 | 58,912 | -51,627 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | -2,194 | - | -2,194 | |||||||||||||
Comprehensive income (loss) attributable to the Company | $ | -49,433 | $ | -10,531 | $ | -49,789 | $ | 1,408 | $ | 58,912 | $ | -49,433 | |||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Revenue | $ | - | $ | - | $ | 1,187,641 | $ | 1,759,303 | $ | - | $ | 2,946,944 | |||||||
Operating expenses: | |||||||||||||||||||
Direct operating expenses | - | - | 521,426 | 1,082,066 | - | 1,603,492 | |||||||||||||
Selling, general and administrative expenses | - | - | 196,254 | 378,408 | - | 574,662 | |||||||||||||
Corporate expenses | 12,794 | - | 64,257 | 38,781 | - | 115,832 | |||||||||||||
Depreciation and amortization | - | - | 189,525 | 209,739 | - | 399,264 | |||||||||||||
Impairment charge | - | - | 37,651 | - | - | 37,651 | |||||||||||||
Other operating income (expense), net | -487 | - | 12,086 | 39,344 | - | 50,943 | |||||||||||||
Operating income (loss) | -13,281 | - | 190,614 | 89,653 | - | 266,986 | |||||||||||||
Interest (income) expense, net | -381 | 366,746 | 7,729 | -218 | - | 373,876 | |||||||||||||
Interest income on due with Clear Channel Communications | 63,761 | - | - | - | - | 63,761 | |||||||||||||
Intercompany interest income | 14,421 | 350,870 | 63,761 | 539 | -429,591 | - | |||||||||||||
Intercompany interest expense | 64,225 | - | 364,730 | 636 | -429,591 | - | |||||||||||||
Loss on marketable securities | - | - | - | -2,578 | - | -2,578 | |||||||||||||
Loss on extinguishment of debt | - | -182,062 | -39,009 | - | - | -221,071 | |||||||||||||
Equity in earnings (loss) of nonconsolidated affiliates | -183,774 | 46,643 | -75,629 | -398 | 214,001 | 843 | |||||||||||||
Other income (expense), net | - | -301 | -3,146 | 3,083 | - | -364 | |||||||||||||
Income (loss) before income taxes | -182,717 | -151,596 | -235,868 | 89,881 | 214,001 | -266,299 | |||||||||||||
Income tax benefit (expense) | -395 | 69,697 | 52,094 | -14,307 | - | 107,089 | |||||||||||||
Consolidated net income (loss) | -183,112 | -81,899 | -183,774 | 75,574 | 214,001 | -159,210 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | 23,902 | - | 23,902 | |||||||||||||
Net income (loss) attributable to the Company | $ | -183,112 | $ | -81,899 | $ | -183,774 | $ | 51,672 | $ | 214,001 | $ | -183,112 | |||||||
Other comprehensive income (loss), net of tax | |||||||||||||||||||
Foreign currency translation adjustments | 1,463 | 4 | 1,994 | 32,024 | - | 35,485 | |||||||||||||
Unrealized loss on marketable securities | - | - | - | -2,573 | - | -2,573 | |||||||||||||
Other adjustments to comprehensive income | - | - | - | 1,135 | - | 1,135 | |||||||||||||
Reclassification adjustment for realized loss on marketable securities included in consolidated net income (loss) | - | - | -534 | 2,579 | - | 2,045 | |||||||||||||
Equity in subsidiary comprehensive income (loss) | 32,926 | 9,101 | 31,464 | - | -73,491 | - | |||||||||||||
Comprehensive income (loss) | -148,723 | -72,794 | -150,850 | 84,837 | 140,510 | -147,020 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | -2 | 1,705 | - | 1,703 | |||||||||||||
Comprehensive income (loss) attributable to the Company | $ | -148,723 | $ | -72,794 | $ | -150,848 | $ | 83,132 | $ | 140,510 | $ | -148,723 | |||||||
(In thousands) | Year Ended December 31, 2011 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Revenue | $ | - | $ | - | $ | 1,161,584 | $ | 1,842,290 | $ | - | $ | 3,003,874 | |||||||
Operating expenses: | |||||||||||||||||||
Direct operating expenses | - | - | 503,570 | 1,127,305 | - | 1,630,875 | |||||||||||||
Selling, general and administrative expenses | - | - | 184,428 | 353,604 | - | 538,032 | |||||||||||||
Corporate expenses | 11,913 | - | 54,980 | 34,078 | - | 100,971 | |||||||||||||
Depreciation and amortization | - | - | 207,416 | 224,619 | - | 432,035 | |||||||||||||
Impairment charge | - | - | 6,468 | 1,146 | - | 7,614 | |||||||||||||
Other operating income (expense), net | - | - | 9,326 | -735 | - | 8,591 | |||||||||||||
Operating income (loss) | -11,913 | - | 214,048 | 100,803 | - | 302,938 | |||||||||||||
Interest expense, net | 35 | 231,251 | 6,688 | 4,461 | - | 242,435 | |||||||||||||
Interest income on due with Clear Channel Communications | 45,459 | - | - | - | - | 45,459 | |||||||||||||
Intercompany interest income | 14,008 | 231,606 | 45,459 | 981 | -292,054 | - | |||||||||||||
Intercompany interest expense | 45,951 | - | 245,537 | 566 | -292,054 | - | |||||||||||||
Loss on marketable securities | - | - | - | -4,827 | - | -4,827 | |||||||||||||
Equity in earnings of nonconsolidated affiliates | 41,964 | 33,104 | 39,556 | 5,704 | -114,299 | 6,029 | |||||||||||||
Other income (expense), net | - | -374 | 257 | -532 | - | -649 | |||||||||||||
Income (loss) before income taxes | 43,532 | 33,085 | 47,095 | 97,102 | -114,299 | 106,515 | |||||||||||||
Income tax expense | -586 | -1,004 | -5,131 | -36,575 | - | -43,296 | |||||||||||||
Consolidated net income | 42,946 | 32,081 | 41,964 | 60,527 | -114,299 | 63,219 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | 20,273 | - | 20,273 | |||||||||||||
Net income attributable to the Company | $ | 42,946 | $ | 32,081 | $ | 41,964 | $ | 40,254 | $ | -114,299 | $ | 42,946 | |||||||
Other comprehensive income, net of tax: | |||||||||||||||||||
Foreign currency translation adjustments | - | - | 1,048 | -30,849 | - | -29,801 | |||||||||||||
Unrealized holding loss on marketable securities | - | - | -4,834 | - | - | -4,834 | |||||||||||||
Other adjustments to comprehensive income | - | - | - | -1,361 | - | - | -1,361 | ||||||||||||
Reclassification adjustment for realized loss on marketable securities included in consolidated net income | - | - | 5,148 | - | - | 5,148 | |||||||||||||
Equity in subsidiary comprehensive income | -39,766 | -26,382 | -39,766 | - | 105,914 | - | |||||||||||||
Comprehensive income | 3,180 | 5,699 | 2,199 | 9,405 | -8,385 | 12,098 | |||||||||||||
Less amount attributable to noncontrolling interest | - | -1 | 1 | 8,918 | - | 8,918 | |||||||||||||
Comprehensive income attributable to the Company | $ | 3,180 | $ | 5,700 | $ | 2,198 | $ | 487 | $ | -8,385 | $ | 3,180 | |||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||
Consolidated net income (loss) | $ | -48,460 | $ | -19,670 | $ | -50,279 | $ | 17,818 | $ | 76,265 | $ | -24,326 | |||||||
Reconciling items: | |||||||||||||||||||
Impairment charges | - | - | - | 13,150 | - | 13,150 | |||||||||||||
Depreciation and amortization | - | - | 194,793 | 208,377 | - | 403,170 | |||||||||||||
Deferred taxes | -51 | - | -22,225 | -8,940 | - | -31,216 | |||||||||||||
Provision for doubtful accounts | - | - | 3,211 | 1,913 | - | 5,124 | |||||||||||||
Share-based compensation | - | - | 4,881 | 2,844 | - | 7,725 | |||||||||||||
(Gain) loss on sale of operating and fixed assets | 494 | - | -28,129 | 4,656 | - | -22,979 | |||||||||||||
Loss on marketable securities | - | - | - | 18 | - | 18 | |||||||||||||
Amortization of deferred financing charges and note discounts, net | - | 7,391 | 1,171 | - | - | 8,562 | |||||||||||||
Other reconciling items, net | 48,847 | 12,274 | 15,241 | 2,091 | -76,265 | 2,188 | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||
(Increase) decrease in accounts receivable | - | - | 47,475 | -4,046 | - | 43,429 | |||||||||||||
Increase in accrued expenses | - | - | 4,991 | 13,185 | - | 18,176 | |||||||||||||
Decrease in accounts payable | - | -20 | -2,131 | -13,049 | 4,793 | -10,407 | |||||||||||||
Increase (decrease) in deferred income | - | - | -7,582 | 7,916 | - | 334 | |||||||||||||
Changes in other operating assets and liabilities | 557 | 75,109 | -66,316 | -7,658 | - | 1,692 | |||||||||||||
Net cash provided by operating activities | 1,387 | 75,084 | 95,101 | 238,275 | 4,793 | 414,640 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of property, plant and equipment | - | - | -96,873 | -109,314 | - | -206,187 | |||||||||||||
Proceeds from disposal of assets | - | - | 33,925 | 8,209 | - | 42,134 | |||||||||||||
Purchases of other operating assets | - | - | -9,480 | -1,003 | - | -10,483 | |||||||||||||
Decrease in intercompany notes receivable, net | - | 127,305 | - | - | -127,305 | - | |||||||||||||
Dividends from subsidiaries | 1,153 | - | - | - | -1,153 | - | |||||||||||||
Change in other, net | - | - | -16 | -3,127 | - | -3,143 | |||||||||||||
Net cash provided by (used for) investing activities | 1,153 | 127,305 | -72,444 | -105,235 | -128,458 | -177,679 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Draws on credit facilities | - | - | - | 2,752 | - | 2,752 | |||||||||||||
Payments on credit facilities | - | - | - | -4,815 | - | -4,815 | |||||||||||||
Proceeds from long-term debt | - | - | - | - | - | - | |||||||||||||
Payments on long-term debt | - | - | -41 | -6,585 | - | -6,626 | |||||||||||||
Net transfers to Clear Channel Communications | -149,957 | - | - | - | - | -149,957 | |||||||||||||
Deferred financing charges | - | - | -344 | - | - | -344 | |||||||||||||
Payments to repurchase of noncontrolling interests | - | - | - | -61,143 | - | -61,143 | |||||||||||||
Dividends and other payments to noncontrolling interests | - | - | - | -68,442 | - | -68,442 | |||||||||||||
Dividends paid | -200,010 | - | - | -1,153 | 1,153 | -200,010 | |||||||||||||
Decrease in intercompany notes payable, net | - | - | - | -127,305 | 127,305 | - | |||||||||||||
Intercompany funding | 219,009 | -202,389 | -16,387 | -233 | - | - | |||||||||||||
Change in other, net | 4,192 | - | - | - | - | 4,192 | |||||||||||||
Net cash used for financing activities | -126,766 | -202,389 | -16,772 | -266,924 | 128,458 | -484,393 | |||||||||||||
Effect of exchange rate changes on cash | - | - | - | -2 | - | -2 | |||||||||||||
Net increase (decrease) in cash and cash equivalents | -124,226 | - | 5,885 | -133,886 | 4,793 | -247,434 | |||||||||||||
Cash and cash equivalents at beginning of year | 207,411 | - | - | 359,361 | -4,793 | 561,979 | |||||||||||||
Cash and cash equivalents at end of year | $ | 83,185 | $ | - | $ | 5,885 | $ | 225,475 | $ | - | $ | 314,545 | |||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||
Consolidated net income (loss) | $ | -183,112 | $ | -81,899 | $ | -183,774 | $ | 75,574 | $ | 214,001 | $ | -159,210 | |||||||
Reconciling items: | |||||||||||||||||||
Impairment charges | - | - | 37,651 | - | - | 37,651 | |||||||||||||
Depreciation and amortization | - | - | 189,525 | 209,739 | - | 399,264 | |||||||||||||
Deferred taxes | 1 | 222 | -129,431 | -28,107 | - | -157,315 | |||||||||||||
Provision for doubtful accounts | - | - | 3,653 | 3,347 | - | 7,000 | |||||||||||||
Share-based compensation | - | - | 6,060 | 4,529 | - | 10,589 | |||||||||||||
(Gain) loss on sale of operating and fixed assets | 487 | - | -12,086 | -39,344 | - | -50,943 | |||||||||||||
Loss on marketable securities | - | - | - | 2,578 | - | 2,578 | |||||||||||||
Amortization of deferred financing charges and note discounts, net | - | 3,636 | 7,327 | - | - | 10,963 | |||||||||||||
Loss on extinguishment of debt | - | 182,062 | 39,009 | - | - | 221,071 | |||||||||||||
Other reconciling items, net | 183,774 | -46,643 | 76,543 | 439 | -214,001 | 112 | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||
Increase in accounts receivable | - | - | -26,922 | -19,372 | - | -46,294 | |||||||||||||
Increase in accrued expenses | - | - | 2,868 | 22,426 | - | 25,294 | |||||||||||||
Increase (decrease) in accounts payable | - | - | -25,587 | 394 | 27,696 | 2,503 | |||||||||||||
Increase in deferred income | - | - | 15,694 | 8,375 | - | 24,069 | |||||||||||||
Changes in other operating assets and liabilities | -327 | -76,100 | 102,907 | 1,326 | - | 27,806 | |||||||||||||
Net cash provided by (used for) operating activities | 823 | -18,722 | 103,437 | 241,904 | 27,696 | 355,138 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of property, plant and equipment | - | - | -123,470 | -152,107 | - | -275,577 | |||||||||||||
Proceeds from disposal of assets | - | - | 9,949 | 46,484 | - | 56,433 | |||||||||||||
Purchases of other operating assets | - | - | -1,032 | -4,687 | - | -5,719 | |||||||||||||
Purchases of businesses | - | - | - | -4,721 | - | -4,721 | |||||||||||||
Increase in intercompany notes receivable, net | - | -2,355,648 | -3,763 | - | 2,359,411 | - | |||||||||||||
Dividends from subsidiaries | 2,167,000 | - | 641 | - | -2,167,641 | - | |||||||||||||
Change in other, net | - | - | -1,000 | -3,164 | - | -4,164 | |||||||||||||
Net cash provided by (used for) investing activities | 2,167,000 | -2,355,648 | -118,675 | -118,195 | 191,770 | -233,748 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Draws on credit facilities | - | - | - | 2,063 | - | 2,063 | |||||||||||||
Payments on credit facilities | - | - | - | -3,368 | - | -3,368 | |||||||||||||
Proceeds from long-term debt | - | 4,917,643 | - | - | - | 4,917,643 | |||||||||||||
Payments on long-term debt | - | -2,682,062 | -120 | -18,604 | - | -2,700,786 | |||||||||||||
Net transfers to Clear Channel Communications | -73,127 | - | - | - | - | -73,127 | |||||||||||||
Deferred financing charges | - | -60,250 | -9,738 | - | - | -69,988 | |||||||||||||
Payments to repurchase noncontrolling interests | - | - | - | -7,040 | - | -7,040 | |||||||||||||
Dividends and other payments to noncontrolling interests | - | - | - | -6,931 | - | -6,931 | |||||||||||||
Dividends paid | -2,170,396 | - | -2,167,000 | -641 | 2,167,641 | -2,170,396 | |||||||||||||
Increase in intercompany notes payable, net | - | - | 2,355,648 | 3,763 | -2,359,411 | - | |||||||||||||
Intercompany funding | -48,966 | 199,039 | -163,552 | 13,479 | - | - | |||||||||||||
Change in other, net | 6,381 | - | - | - | - | 6,381 | |||||||||||||
Net cash provided by (used for) financing activities | -2,286,108 | 2,374,370 | 15,238 | -17,279 | -191,770 | -105,549 | |||||||||||||
Effect of exchange rate changes on cash | - | - | - | 3,483 | - | 3,483 | |||||||||||||
Net increase (decrease) in cash and cash equivalents | -118,285 | - | - | 109,913 | 27,696 | 19,324 | |||||||||||||
Cash and cash equivalents at beginning of year | 325,696 | - | - | 249,448 | -32,489 | 542,655 | |||||||||||||
Cash and cash equivalents at end of year | $ | 207,411 | $ | - | $ | - | $ | 359,361 | $ | -4,793 | $ | 561,979 | |||||||
(In thousands) | Year Ended December 31, 2011 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||
Consolidated net income (loss) | $ | 42,946 | $ | 32,081 | $ | 41,964 | $ | 60,527 | $ | -114,299 | $ | 63,219 | |||||||
Reconciling items: | |||||||||||||||||||
Impairment charges | - | - | 6,468 | 1,146 | - | 7,614 | |||||||||||||
Depreciation and amortization | - | - | 207,416 | 224,619 | - | 432,035 | |||||||||||||
Deferred taxes | - | -137 | 12,409 | -13,665 | - | -1,393 | |||||||||||||
Provision for doubtful accounts | - | - | 1,351 | 4,626 | - | 5,977 | |||||||||||||
Share-based compensation | - | - | 7,748 | 3,165 | - | 10,913 | |||||||||||||
(Gain) loss on sale of operating and fixed assets | - | - | -9,326 | 735 | - | -8,591 | |||||||||||||
Loss on marketable securities | - | - | - | 4,827 | - | 4,827 | |||||||||||||
Amortization of deferred financing charges and note discounts, net | - | - | 7,653 | - | - | 7,653 | |||||||||||||
Other reconciling items, net | -41,964 | -32,730 | -39,704 | -5,230 | 114,299 | -5,329 | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||
(Increase) decrease in accounts receivable | - | - | 16,301 | -472 | - | 15,829 | |||||||||||||
Increase (decrease) in accrued expenses | - | 96 | -38,341 | 2,403 | - | -35,842 | |||||||||||||
Increase in accounts payable | - | - | 40,587 | 9,091 | -25,976 | 23,702 | |||||||||||||
Decrease in deferred income | - | - | -3,564 | -6,648 | - | -10,212 | |||||||||||||
Changes in other operating assets and liabilities | -661 | 969 | -7,825 | 14,333 | - | 6,816 | |||||||||||||
Net cash provided by operating activities | 321 | 279 | 243,137 | 299,457 | -25,976 | 517,218 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of property, plant and equipment | - | - | -121,305 | -169,745 | - | -291,050 | |||||||||||||
Proceeds from disposal of assets | - | - | 8,746 | 4,137 | - | 12,883 | |||||||||||||
Purchases of other operating assets | - | - | -14,203 | -591 | - | -14,794 | |||||||||||||
Purchases of businesses | - | - | - | -13,179 | - | -13,179 | |||||||||||||
Decrease in intercompany notes receivable, net | - | 66,780 | - | - | -66,780 | - | |||||||||||||
Dividends from subsidiaries | - | - | 704 | - | -704 | - | |||||||||||||
Change in other, net | - | - | -488 | 7,495 | 199 | 7,206 | |||||||||||||
Net cash provided by (used for) investing activities | - | 66,780 | -126,546 | -171,883 | -67,285 | -298,934 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Draws on credit facilities | - | - | - | - | - | - | |||||||||||||
Payments on credit facilities | - | - | -397 | -3,754 | - | -4,151 | |||||||||||||
Proceeds from long-term debt | - | - | - | 5,012 | - | 5,012 | |||||||||||||
Payments on long-term debt | - | - | - | -20,099 | - | -20,099 | |||||||||||||
Net transfers to Clear Channel Communications | -272,262 | - | - | - | - | -272,262 | |||||||||||||
Deferred financing charges | - | - | - | - | - | - | |||||||||||||
Payments to repurchase noncontrolling interests | - | - | - | -4,682 | - | -4,682 | |||||||||||||
Dividends and other payments to noncontrolling interests | - | - | - | -3,571 | - | -3,571 | |||||||||||||
Dividends paid | - | - | - | -704 | 704 | - | |||||||||||||
(Decrease) increase in intercompany notes payable, net | - | - | 277 | -67,057 | 66,780 | - | |||||||||||||
Intercompany funding | 169,805 | -67,059 | -116,390 | 13,644 | - | - | |||||||||||||
Change in other, net | 1,090 | - | -81 | 199 | -199 | 1,009 | |||||||||||||
Net cash used for financing activities | -101,367 | -67,059 | -116,591 | -81,012 | 67,285 | -298,744 | |||||||||||||
Effect of exchange rate changes on cash | - | - | - | -903 | - | -903 | |||||||||||||
Net increase (decrease) in cash and cash equivalents | -101,046 | - | - | 45,659 | -25,976 | -81,363 | |||||||||||||
Cash and cash equivalents at beginning of year | 426,742 | - | - | 203,789 | -6,513 | 624,018 | |||||||||||||
Cash and cash equivalents at end of year | $ | 325,696 | $ | - | $ | - | $ | 249,448 | $ | -32,489 | $ | 542,655 |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | |||||||||||||||
Schedule Of Valuation And Qualifying Accounts Disclosure [Text Block] | ' | |||||||||||||||
SCHEDULE II | ||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||
(In thousands) | Charges | |||||||||||||||
Balance at | to Costs, | Write-off | Balance | |||||||||||||
Beginning | Expenses | of Accounts | at End of | |||||||||||||
Description | of period | and other | Receivable | Other (1) | Period | |||||||||||
Year ended December 31, 2011 | $ | 49,032 | $ | 5,977 | $ | 13,530 | $ | -129 | $ | 41,350 | ||||||
Year ended December 31, 2012 | $ | 41,350 | $ | 7,000 | $ | 6,955 | $ | -4,726 | $ | 36,669 | ||||||
Year ended December 31, 2013 | $ | 36,669 | $ | 5,124 | $ | 9,390 | $ | 724 | $ | 33,127 | ||||||
Primarily foreign currency adjustments and acquisition and/or divestiture activity. | ||||||||||||||||
SCHEDULE II | ||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||
Deferred Tax Asset Valuation Allowance | ||||||||||||||||
(In thousands) | Charges | |||||||||||||||
Balance at | to Costs, | Balance | ||||||||||||||
Beginning | Expenses | at end of | ||||||||||||||
Description | of Period | and other (1) | Reversal (2) | Adjustments (3) | Period | |||||||||||
Year ended December 31, 2011 | $ | 189,405 | $ | 8,548 | $ | -5,235 | $ | -3,520 | $ | 189,198 | ||||||
Year ended December 31, 2012 | $ | 189,198 | $ | 14,309 | $ | -21,727 | $ | -1,973 | $ | 179,807 | ||||||
Year ended December 31, 2013 | $ | 179,807 | $ | 5,647 | $ | -5 | $ | -5,165 | $ | 180,284 | ||||||
During 2011, 2012 and 2013, the Company recorded valuation allowances on deferred tax assets attributable to net operating losses in certain foreign jurisdictions due to the uncertainty of the ability to utilize those losses in future periods. | ||||||||||||||||
During 2011, 2012 and 2013, the Company realized the tax benefits associated with certain foreign deferred tax assets, primarily related to foreign loss carryforwards, on which a valuation allowance was previously recorded. The associated valuation allowance was reversed in the period in which, based on the weight of available evidence, it is more-likely-than-not that the deferred tax asset will be realized. | ||||||||||||||||
During 2011, 2012 and 2013, the Company adjusted certain valuation allowances as a result of changes in tax rates in certain jurisdictions and as a result of the expiration of carryforward periods for net operating loss carryforwards. | ||||||||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Nature of Business [Policy Text Block] | ' |
Nature of Business | |
Clear Channel Outdoor Holdings, Inc. (the “Company”) is an outdoor advertising company which owns or operates advertising display faces domestically and internationally. On November 11, 2005, the Company became a publicly traded company through an initial public offering (“IPO”), in which 10%, or 35.0 million shares, of the Company's Class A common stock was sold. Prior to the IPO, the Company was an indirect wholly-owned subsidiary of Clear Channel Communications, Inc. (“Clear Channel Communications”), a diversified media and entertainment company. As of December 31, 2013, Clear Channel Communications indirectly holds all of the 315.0 million shares of Class B common stock outstanding and 1,553,971 shares of Class A common stock, collectively representing approximately 88% of the shares outstanding and approximately 99% of the voting power. The holders of Class A common stock and Class B common stock have identical rights, except holders of Class A common stock are entitled to one vote per share while holders of Class B common stock are entitled to 20 votes per share. The Class B shares of common stock are convertible, at the option of the holder at any time or upon any transfer, into shares of Class A common stock on a one-for-one basis, subject to certain limited exceptions. | |
The Company operates in the outdoor advertising industry by selling advertising on billboards, street furniture displays, transit displays and other advertising displays. The Company has two reportable business segments: Americas and International. During the first quarter of 2012, and in connection with the appointment of the Company's new chief executive officer, the Company reevaluated its segment reporting and determined that its Latin American operations were more appropriately aligned with the operations of its International segment. As a result, the operations of Latin America are no longer reflected within the Company's Americas segment and are currently included in the results of its International segment. Accordingly, the Company has recast the corresponding segment disclosures for prior periods. The Americas segment primarily includes operations in the United States and Canada; the International segment primarily includes operations in Europe, Asia, Latin America and Australia. | |
Clear Channel Communications' Merger [Policy Text Block] | ' |
Clear Channel Communications' Merger | |
On July 30, 2008, Clear Channel Communications completed its merger with a subsidiary of CC Media Holdings, Inc. (“CC Media Holdings”), a company formed by a group of private equity funds sponsored by Bain Capital Partners, LLC and Thomas H. Lee Partners, L.P. (together, the “Sponsors”). Clear Channel Communications is now owned indirectly by CC Media Holdings. The purchase price was approximately $23.0 billion, including $94.0 million in capitalized transaction costs. The merger was accounted for as a purchase business combination in conformity with Statement of Financial Accounting Standards No. 141, Business Combinations, and Emerging Issues Task Force Issue 88-16, Basis in Leveraged Buyout Transactions. ASC 805-50-S99-1 requires the application of push down accounting in situations where the ownership of an entity has changed. As a result, the post-merger financial statements of the Company reflect the new basis of accounting. | |
Agreements with Clear Channel Communications | |
There are several agreements which govern the Company's relationship with Clear Channel Communications including the Master Agreement, Corporate Services Agreement, Employee Matters Agreement and Tax Matters Agreement. Clear Channel Communications has the right to terminate these agreements in various circumstances. As of the date of the filing of this report, no notice of termination of any of these agreements has been received from Clear Channel Communications. | |
Use of Estimates [Policy Text Block] | ' |
Use of Estimates | |
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments, and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes including, but not limited to, legal, tax and insurance accruals. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates. | |
Principles of Consolidation [Policy Text Block] | ' |
Principles of Consolidation | |
The consolidated financial statements include the accounts of the Company and its subsidiaries. Also included in the consolidated financial statements are entities for which the Company has a controlling financial interest or is the primary beneficiary. Investments in companies in which the Company owns 20 percent to 50 percent of the voting common stock or otherwise exercises significant influence over operating and financial policies of the Company are accounted for using the equity method of accounting. All significant intercompany accounts have been eliminated in consolidation. | |
Certain prior period amounts have been reclassified to conform to the 2013 presentation. | |
Cash and Cash Equivalents [Policy Text Block] | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents include all highly liquid investments with an original maturity of three months or less. | |
Accounts Receivable and Allowance for Doubtful Accounts [Policy Text Block] | 'Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company evaluates the collectability of its accounts receivable based on a combination of factors. In circumstances where it is aware of a specific customer’s inability to meet its financial obligations, it records a specific reserve to reduce the amounts recorded to what it believes will be collected. For all other customers, it recognizes reserves for bad debt based on historical experience of bad debts as a percent of revenue for each business unit, adjusted for relative improvements or deteriorations in the agings and changes in current economic conditions. The Company believes its concentration of credit risk is limited due to the large number and the geographic diversification of its customers. |
Business Combinations [Policy Text Block] | ' |
Business Combinations | |
The Company accounts for its business combinations under the acquisition method of accounting. The total cost of an acquisition is allocated to the underlying identifiable net assets, based on their respective estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Determining the fair value of assets acquired and liabilities assumed requires management's judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items. Various acquisition agreements may include contingent purchase consideration based on performance requirements of the investee. The Company accounts for these payments in conformity with the provisions of ASC 805-20-30, which establish the requirements related to recognition of certain assets and liabilities arising from contingencies. | |
Property, Plant and Equipment [Policy Text Block] | ' |
Property, Plant and Equipment | |
Property, plant and equipment are stated at cost. Depreciation is computed using the straight-line method at rates that, in the opinion of management, are adequate to allocate the cost of such assets over their estimated useful lives, which are as follows: | |
Buildings and improvements — 10 to 39 years | |
Structures — 5 to 15 years | |
Furniture and other equipment — 3 to 20 years | |
Leasehold improvements — shorter of economic life or lease term assuming renewal periods, if appropriate | |
For assets associated with a lease or contract, the assets are depreciated at the shorter of the economic life or the lease or contract term, assuming renewal periods, if appropriate. Expenditures for maintenance and repairs are charged to operations as incurred, whereas expenditures for renewal and betterments are capitalized. | |
The Company tests for possible impairment of property, plant, and equipment whenever events and circumstances indicate that depreciable assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. | |
Land Leases and Other Structure Licenses [Policy Text Block] | ' |
Land Leases and Other Structure Licenses | |
Most of the Company's advertising structures are located on leased land. Americas land leases are typically paid in advance for periods ranging from one to 12 months. International land leases are paid both in advance and in arrears, for periods ranging from one to 12 months. Most international street furniture display faces are operated through contracts with municipalities for up to 20 years. The leased land and street furniture contracts often include a percent of revenue to be paid along with a base rent payment. Prepaid land leases are recorded as an asset and expensed ratably over the related rental term and license and rent payments in arrears are recorded as an accrued liability. | |
Intangible Assets and Goodwill [Policy Text Block] | ' |
Intangible Assets | |
The Company's indefinite-lived intangible assets include billboard permits in its Americas segment. The Company's indefinite-lived intangible assets are not subject to amortization, but are tested for impairment at least annually. The Company tests for possible impairment of indefinite-lived intangible assets whenever events or changes in circumstances, such as a significant reduction in operating cash flow or a dramatic change in the manner for which the asset is intended to be used indicate that the carrying amount of the asset may not be recoverable. | |
The Company performs its annual impairment test for its permits using a direct valuation technique as prescribed in ASC 805-20-S99. The Company engages Mesirow Financial Consulting, LLC (“Mesirow Financial”), a third party valuation firm, to assist the Company in the development of these assumptions and the Company's determination of the fair value of its permits. | |
Other intangible assets include definite-lived intangible assets and permanent easements. The Company's definite-lived intangible assets include primarily transit and street furniture contracts, site leases and other contractual rights, all of which are amortized over the shorter of either the respective lives of the agreements or over the period of time the assets are expected to contribute directly or indirectly to the Company's future cash flows. The Company periodically reviews the appropriateness of the amortization periods related to its definite-lived intangible assets. These assets are recorded at cost. Permanent easements are indefinite-lived intangible assets which include certain rights to use real property not owned by the Company. | |
The Company tests for possible impairment of other intangible assets whenever events and circumstances indicate that they might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. When specific assets are determined to be unrecoverable, the cost basis of the asset is reduced to reflect the current fair market value. | |
Goodwill | |
At least annually, the Company performs its impairment test for each reporting unit's goodwill. In 2013 and 2012, the Company used a discounted cash flow model to determine if the carrying value of the reporting unit, including goodwill, is less than the fair value of the reporting unit. The Company identified its reporting units in accordance with ASC 350-20-55. The Company's U.S. outdoor advertising markets are aggregated into a single reporting unit for purposes of the goodwill impairment test. The Company also determined that within its Americas segment, Canada constitutes a separate reporting unit and each country in its International outdoor segment constitutes a separate reporting unit. The Company recognized a non-cash impairment charge to goodwill of $10.7 million based on declining future cash flows expected in one country in the International outdoor segment for 2013. The Company had no impairment of goodwill for 2012. The Company recognized a non-cash impairment charge of $1.1 million to reduce goodwill in one country within its International segment for 2011. | |
Nonconsolidated Affiliates [Policy Text Block] | ' |
Nonconsolidated Affiliates | |
In general, investments in which the Company owns 20 percent to 50 percent of the common stock or otherwise exercises significant influence over the investee are accounted for under the equity method. The Company does not recognize gains or losses upon the issuance of securities by any of its equity method investees. The Company reviews the value of equity method investments and records impairment charges in the statement of operations as a component of “Equity in earnings (loss) of nonconsolidated affiliates” for any decline in value that is determined to be other-than-temporary. | |
Other Investments [Policy Text Block] | ' |
Other Investments | |
Other investments are composed primarily of equity securities. These securities are classified as available-for-sale or trading and are carried at fair value based on quoted market prices. Securities are carried at historical value when quoted market prices are unavailable. The net unrealized gains or losses on the available-for-sale securities, net of tax, are reported in accumulated other comprehensive loss as a component of shareholders' deficit. In addition, the Company holds investments that do not have quoted market prices. The Company periodically assesses the value of available-for-sale and non-marketable securities and records impairment charges in the statement of comprehensive loss for any decline in value that is determined to be other-than-temporary. The average cost method is used to compute the realized gains and losses on sales of equity securities. | |
The Company periodically assesses the value of its available-for-sale securities. Based on these assessments, no impairments existed at December 31, 2013 and the Company concluded that other-than-temporary impairments existed at December 31, 2012 and 2011 and recorded non-cash impairment charges of $2.6 million and $4.8 million, respectively, during each of these years. Such charges are recorded on the statement of operations in “Loss on marketable securities”. | |
Financial Instruments [Policy Text Block] | ' |
Financial Instruments | |
Due to their short maturity, the carrying amounts of accounts and notes receivable, accounts payable, accrued liabilities and short-term borrowings approximated their fair values at December 31, 2013 and 2012. | |
Asset Retirement Obligations [Policy Text Block] | ' |
Asset Retirement Obligation | |
ASC 410-20 requires the Company to estimate its obligation upon the termination or non-renewal of a lease to dismantle and remove its advertising structures from the leased land and to reclaim the site to its original condition. The Company's asset retirement obligation is reported in “Other long-term liabilities.” The Company records the present value of obligations associated with the retirement of its advertising structures in the period in which the obligation is incurred. When the liability is recorded, the cost is capitalized as part of the related advertising structures carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. | |
Income Taxes [Policy Text Block] | ' |
Income Taxes | |
The Company accounts for income taxes using the liability method. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting bases and tax bases of assets and liabilities and are measured using the enacted tax rates expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be realized or settled. Deferred tax assets are reduced by valuation allowances if the Company believes it is more likely than not that some portion or the entire asset will not be realized. As generally all earnings from the Company's foreign operations are permanently reinvested and not distributed, the Company's income tax provision does not include additional U.S. taxes on foreign operations. If any excess cash held by our foreign subsidiaries were needed to fund operations in the United States, we could presently repatriate available funds without a requirement to accrue or pay U.S. taxes. This is a result of significant current and historic deficits in our foreign earnings and profits, which gives us flexibility to make future cash distributions as non-taxable returns of capital. We regularly review our tax liabilities on amounts that may be distributed in future periods and provide for foreign withholding and other current and deferred taxes on any such amounts. It is not practical to determine the amount of federal income taxes, if any, that might become due in the event that the earnings of our foreign operations were distributed. During 2013, the Company recorded additional foreign deferred tax expense of $3.4 million on certain foreign earnings that are expected to be distributed in future periods from the Company's Asia subsidiaries on which foreign withholding and other taxes have not previously been provided. | |
The operations of the Company are included in a consolidated U.S. Federal income tax return filed by CC Media Holdings. However, for financial reporting purposes, the Company's provision for income taxes has been computed on the basis that the Company files separate consolidated U.S. Federal income tax returns with its subsidiaries. | |
Revenue Recognition [Policy Text Block] | ' |
Revenue Recognition | |
The Company's advertising contracts cover periods of a few weeks up to one year, and are generally billed monthly. Revenue for advertising space rental is recognized ratably over the term of the contract. Advertising revenue is reported net of agency commissions. Agency commissions are calculated based on a stated percentage applied to gross billing revenue for the Company's operations. Payments received in advance of being earned are recorded as deferred income. Revenue arrangements typically contain multiple products and services and revenues are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognition criteria for the specific unit of accounting. | |
Advertising Expense [Policy Text Block] | ' |
Advertising Expense | |
The Company records advertising expense as it is incurred. Advertising expenses were $18.6 million, $17.2 million and $14.7 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Share-Based Compensation [Policy Text Block] | ' |
Share-Based Compensation | |
Under the fair value recognition provisions of ASC 718-10, share-based compensation cost is measured at the grant date based on the fair value of the award. For awards that vest based on service conditions, this cost is recognized as expense on a straight-line basis over the vesting period. For awards that will vest based on market or performance conditions, this cost will be recognized when it becomes probable that the performance conditions will be satisfied. Determining the fair value of share-based awards at the grant date requires assumptions and judgments about expected volatility and forfeiture rates, among other factors. | |
Foreign Currency [Policy Text Block] | ' |
Foreign Currency | |
Results of operations for foreign subsidiaries and foreign equity investees are translated into U.S. dollars using the average exchange rates during the year. The assets and liabilities of those subsidiaries and investees are translated into U.S. dollars using the exchange rates at the balance sheet date. The related translation adjustments are recorded in a separate component of shareholders' equity, “Accumulated other comprehensive income (loss)”. Foreign currency transaction gains and losses are included in operations. | |
New Accounting Pronouncements [Policy Text Block] | ' |
New Accounting Pronouncements | |
In July 2013, the FASB issued Accounting Standards Update (“ASU”) No. 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. Under the revised guidance, entities are permitted to designate the Fed Funds effective Swap Rate, also referred to as the overnight index swap rate, as a benchmark interest rate. In addition, the ASU removes the restriction on using different benchmark interest rates for similar hedges. The amendments became effective for any qualifying new or designated hedging relationships entered into on or after July 17, 2013. The Company does not expect the provisions of ASU 2013-10 to have a material effect on the Company's financial position or results of operations. | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. Under the revised guidance, public and non-public companies are required to present information about reclassification adjustments from accumulated other comprehensive income in their financial statements in a single note or on the face of the financial statements. Public companies are also required to provide this information in their interim statements. The standard is effective prospectively for public entities for fiscal years, and interim periods with those years, beginning after December 15, 2012. The provisions of ASU 2013-02 did not have a material effect on the Company's financial statement disclosures. | |
In January 2013, the FASB issued ASU No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. Under the revised guidance, new balance sheet offsetting disclosures are limited to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement; recognized derivative instruments accounted for under ASC 815, repurchase agreements and reverse purchase agreements, and securities borrowing and securities lending transactions. Entities are required to apply the ASU for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The provisions of ASU 2013-01 did not have a material effect on the Company's financial statement disclosures. | |
In October 2012, the FASB issued ASU No. 2012-04, Technical Corrections and Improvements. Under the revised guidance, changes were made to clarify the FASB Accounting Standards Codification (the “Codification”), correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Additionally, the amendments will make the Codification easier to understand and the fair value measurement guidance easier to apply by eliminating inconsistencies and providing needed clarifications. The guidance is effective for annual and interim reporting periods beginning after December 15, 2012. The provisions of ASU 2012-04 did not have a material effect on the Company's financial statement disclosures. |
Property_Plant_And_Equipment_I1
Property, Plant And Equipment, Intangible Assets And Goodwill (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Property, Plant And Equipment, Intangible Assets And Goodwill [Abstract] | ' | ||||||||||||
Schedule of Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||
(In thousands) | December 31, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||
Land, buildings and improvements | $ | 213,670 | $ | 210,382 | |||||||||
Structures | 3,021,152 | 2,949,458 | |||||||||||
Furniture and other equipment | 147,768 | 134,389 | |||||||||||
Construction in progress | 83,891 | 76,299 | |||||||||||
3,466,481 | 3,370,528 | ||||||||||||
Less: accumulated depreciation | 1,385,383 | 1,162,784 | |||||||||||
Property, plant and equipment, net | $ | 2,081,098 | $ | 2,207,744 | |||||||||
(In thousands) | December 31, | December 31, | |||||||||||
2013 | 2012 | ||||||||||||
Land, buildings and improvements | $ | 213,670 | $ | 210,382 | |||||||||
Structures | 3,021,152 | 2,949,458 | |||||||||||
Furniture and other equipment | 147,768 | 134,389 | |||||||||||
Construction in progress | 83,891 | 76,299 | |||||||||||
3,466,481 | 3,370,528 | ||||||||||||
Less: accumulated depreciation | 1,385,383 | 1,162,784 | |||||||||||
Property, plant and equipment, net | $ | 2,081,098 | $ | 2,207,744 | |||||||||
Schedule of Other Intangible Assets [Table Text Block] | ' | ||||||||||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | |||||||||||
Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | ||||||||||
Transit, street furniture and other outdoor contractual rights | $ | 777,521 | $ | -464,548 | $ | 785,303 | $ | -403,955 | |||||
Permanent easements | 173,753 | - | 173,374 | - | |||||||||
Other | 2,832 | -1,632 | 4,283 | -1,527 | |||||||||
Total | $ | 954,106 | $ | -466,180 | $ | 962,960 | $ | -405,482 | |||||
Schedule of Future Amortization Expenses [Table Text Block] | ' | ||||||||||||
(In thousands) | |||||||||||||
2014 | $ | 65,291 | |||||||||||
2015 | 55,110 | ||||||||||||
2016 | 42,875 | ||||||||||||
2017 | 31,461 | ||||||||||||
2018 | 22,991 | ||||||||||||
Schedule of Changes in Carrying Amount of Goodwill [Table Text Block] | ' | ||||||||||||
(In thousands) | Americas | International | Consolidated | ||||||||||
Balance as of December 31, 2011 | $ | 571,932 | $ | 285,261 | $ | 857,193 | |||||||
Foreign currency | - | 7,784 | 7,784 | ||||||||||
Dispositions | - | -2,729 | -2,729 | ||||||||||
Balance as of December 31, 2012 | $ | 571,932 | $ | 290,316 | $ | 862,248 | |||||||
Impairment | - | -10,684 | -10,684 | ||||||||||
Foreign currency | - | -974 | -974 | ||||||||||
Dispositions | - | -456 | -456 | ||||||||||
Balance as of December 31, 2013 | $ | 571,932 | $ | 278,202 | $ | 850,134 |
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Investments [Abstract] | ' | |||||||||
Schedule of Investments in Nonconsolidated Affiliates [Table Text Block] | ' | |||||||||
(In thousands) | Buspak | All Others | Total | |||||||
Balance as of December 31, 2011 | $ | 7,911 | $ | 3,257 | $ | 11,168 | ||||
Equity in net earnings (loss) | 1,558 | -715 | 843 | |||||||
Acquisitions of investments, net | - | 1,082 | 1,082 | |||||||
Other, net | 1,209 | 1,831 | 3,040 | |||||||
Foreign currency translation adjustments | -35 | 25 | -10 | |||||||
Balance as of December 31, 2012 | $ | 10,643 | $ | 5,480 | $ | 16,123 | ||||
Equity in net loss | -144 | -1,948 | -2,092 | |||||||
Acquisitions of investments, net | - | 54 | 54 | |||||||
Other, net | - | 1,301 | 1,301 | |||||||
Foreign currency translation adjustments | -4 | 9 | 5 | |||||||
Balance as of December 31, 2013 | $ | 10,495 | $ | 4,896 | $ | 15,391 |
Asset_Retirement_Obligation_Ta
Asset Retirement Obligation (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Asset Retirement Obligation [Abstract] | ' | ||||||
Schedule of Change in Asset Retirement Obligation [Table Text Block] | ' | ||||||
(In thousands) | Years Ended December 31, | ||||||
2013 | 2012 | ||||||
Beginning balance | $ | 52,571 | $ | 47,534 | |||
Adjustment due to change in estimate of related costs | 808 | 3,172 | |||||
Accretion of liability | 4,612 | 4,490 | |||||
Liabilities settled | -3,159 | -2,625 | |||||
Ending balance | $ | 54,832 | $ | 52,571 |
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||
Dec. 31, 2013 | |||||||
Long-Term Debt [Abstract] | ' | ||||||
Schedule of Long-Term Debt [Table Text Block] | ' | ||||||
(In thousands) | December 31, | December 31, | |||||
2013 | 2012 | ||||||
Clear Channel Worldwide Holdings Senior Notes: | |||||||
6.5% Series A Senior Notes Due 2022 | $ | 735,750 | $ | 735,750 | |||
6.5% Series B Senior Notes Due 2022 | 1,989,250 | 1,989,250 | |||||
Clear Channel Worldwide Holdings Senior Subordinated Notes: | |||||||
7.625% Series A Senior Subordinated Notes Due 2020 | 275,000 | 275,000 | |||||
7.625% Series B Senior Subordinated Notes Due 2020 | 1,925,000 | 1,925,000 | |||||
Senior revolving credit facility due 2018 | - | - | |||||
Other debt | 17,133 | 27,093 | |||||
Original issue discount | -6,757 | -7,298 | |||||
Total debt | 4,935,376 | 4,944,795 | |||||
Less: current portion | 15,999 | 9,407 | |||||
Total long-term debt | $ | 4,919,377 | $ | 4,935,388 | |||
Schedule of Maturities of Long-Term Debt [Table Text Block] | ' | ||||||
(in thousands) | |||||||
2014 | $ | 15,999 | |||||
2015 | 57 | ||||||
2016 | 64 | ||||||
2017 | 74 | ||||||
2018 | 84 | ||||||
Thereafter | 4,925,855 | ||||||
Total (1) | $ | 4,942,133 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments And Contingencies [Abstract] | ' | |||||||||||
Schedule of Future Minimum Commitments [Table Text Block] | ' | |||||||||||
(In thousands) | Capital | |||||||||||
Non-Cancelable | Non-Cancelable | Expenditure | Employment | |||||||||
Operating Lease | Contracts | Commitments | Contracts | |||||||||
2014 | $ | 301,974 | $ | 368,095 | $ | 44,224 | $ | 6,645 | ||||
2015 | 285,230 | 278,113 | 27,007 | 3,434 | ||||||||
2016 | 226,536 | 224,480 | 14,382 | 940 | ||||||||
2017 | 193,560 | 193,884 | 2,454 | 83 | ||||||||
2018 | 161,363 | - | 152 | - | ||||||||
Thereafter | 1,002,099 | 539,200 | 23,532 | - | ||||||||
Total | $ | 2,170,762 | $ | 1,603,772 | $ | 111,751 | $ | 11,102 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||||||
(In thousands) | Years Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Current - Federal | $ | -1,470 | $ | -465 | $ | -340 | ||||||||||
Current - foreign | -45,327 | -47,632 | -50,285 | |||||||||||||
Current - state | 772 | -2,129 | 5,936 | |||||||||||||
Total current expense | -46,025 | -50,226 | -44,689 | |||||||||||||
Deferred - Federal | 21,369 | 119,195 | -8,986 | |||||||||||||
Deferred - foreign | 8,278 | 28,502 | 13,708 | |||||||||||||
Deferred - state | 1,569 | 9,618 | -3,329 | |||||||||||||
Total deferred benefit | 31,216 | 157,315 | 1,393 | |||||||||||||
Income tax benefit (expense) | $ | -14,809 | $ | 107,089 | $ | -43,296 | ||||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||||||
(In thousands) | December 31, | December 31, | ||||||||||||||
2013 | 2012 | |||||||||||||||
Deferred tax liabilities: | ||||||||||||||||
Intangibles and fixed assets | $ | 951,405 | $ | 949,507 | ||||||||||||
Equity in earnings | 1,062 | 482 | ||||||||||||||
Other investments | 6,486 | 3,009 | ||||||||||||||
Total deferred tax liabilities | 958,953 | 952,998 | ||||||||||||||
Deferred tax assets: | ||||||||||||||||
Accrued expenses | 17,791 | 11,181 | ||||||||||||||
Net operating loss carryforwards | 458,670 | 422,472 | ||||||||||||||
Bad debt reserves | 3,962 | 5,331 | ||||||||||||||
Other | 18,967 | 21,211 | ||||||||||||||
Total deferred tax assets | 499,390 | 460,195 | ||||||||||||||
Less: Valuation allowance | 180,284 | 179,807 | ||||||||||||||
Net deferred tax assets | 319,106 | 280,388 | ||||||||||||||
Net deferred tax liabilities | 639,847 | 672,610 | ||||||||||||||
Less: current portion of deferred tax asset (liability) | 16,303 | 458 | ||||||||||||||
Long-term net deferred tax liabilities | $ | 656,150 | $ | 673,068 | ||||||||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | ' | |||||||||||||||
(Amounts in thousands) | Years Ended December 31, | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||
Income tax benefit (expense) at statutory rates | $ | 3,331 | 35% | $ | 93,205 | 35% | $ | -37,280 | 35% | |||||||
State income taxes, net of federal tax effect | 2,342 | 25% | 7,489 | 3% | 2,607 | -2% | ||||||||||
Foreign income taxes | -19,777 | -208% | 9,938 | 3% | -3,617 | 3% | ||||||||||
Nondeductible items | -613 | -7% | -679 | 0% | -550 | 1% | ||||||||||
Tax contingencies | -2,488 | -26% | 522 | 0% | -2,360 | 2% | ||||||||||
Other, net | 2,396 | 25% | -3,386 | -1% | -2,096 | 2% | ||||||||||
Income tax benefit (expense) | $ | -14,809 | -156% | $ | 107,089 | 40% | $ | -43,296 | 41% | |||||||
Schedule of Unrecognized Tax Benefits [Table Text Block] | ' | |||||||||||||||
(In thousands) | Years Ended December 31, | |||||||||||||||
Unrecognized Tax Benefits | 2013 | 2012 | ||||||||||||||
Balance at beginning of period | $ | 45,839 | $ | 40,078 | ||||||||||||
Increases for tax position taken in the current year | 9,454 | 8,349 | ||||||||||||||
Increases for tax positions taken in previous years | 6,124 | 8,051 | ||||||||||||||
Decreases for tax position taken in previous years | -638 | -4,368 | ||||||||||||||
Decreases due to settlements with tax authorities | -678 | -6,271 | ||||||||||||||
Decreases due to lapse of statute of limitations | -7,482 | - | ||||||||||||||
Balance at end of period | $ | 52,619 | $ | 45,839 |
Equity_And_Comprehensive_Incom
Equity And Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Disclosure of Share-Based Payments [Abstract] | ' | |||||||||
Schedule of Changes in Shareholders' Deficit and Other Comprehensive Loss [Table Text Block] | ' | |||||||||
(In thousands) | The Company | Noncontrolling Interests | Consolidated | |||||||
Balances at January 1, 2013 | $ | 198,155 | $ | 247,934 | $ | 446,089 | ||||
Net income (loss) | -48,460 | 24,134 | -24,326 | |||||||
Dividends paid | -200,010 | - | -200,010 | |||||||
Dividends and other payments to noncontrolling interests | - | -68,441 | -68,441 | |||||||
Foreign currency translation adjustments | -7,460 | -2,194 | -9,654 | |||||||
Unrealized holding gain on marketable securities | 1,187 | - | 1,187 | |||||||
Other adjustments to comprehensive loss | 6,732 | - | 6,732 | |||||||
Other, net | 9,350 | 613 | 9,963 | |||||||
Reclassifications | -1,432 | - | -1,432 | |||||||
Balances at December 31, 2013 | $ | -41,938 | $ | 202,046 | $ | 160,108 | ||||
Balances at January 1, 2012 | $ | 2,508,697 | $ | 231,530 | $ | 2,740,227 | ||||
Net income (loss) | -183,112 | 23,902 | -159,210 | |||||||
Dividends paid | -2,170,396 | - | -2,170,396 | |||||||
Foreign currency translation adjustments | 33,782 | 1,703 | 35,485 | |||||||
Unrealized holding gain (loss) on marketable securities | -2,573 | - | -2,573 | |||||||
Other adjustments to comprehensive loss | 1,135 | - | 1,135 | |||||||
Other, net | 8,577 | -9,201 | -624 | |||||||
Reclassifications | 2,045 | - | 2,045 | |||||||
Balances at December 31, 2012 | $ | 198,155 | $ | 247,934 | $ | 446,089 | ||||
Schedule of Stock Options Valuation Assumptions [Table Text Block] | ' | |||||||||
Years Ended December 31, | ||||||||||
2013 | 2012 | 2011 | ||||||||
Expected volatility | 55% – 56% | 54% – 56% | 57% | |||||||
Expected life in years | 6.3 | 6.3 | 6.3 | |||||||
Risk-free interest rate | 1.05% – 2.19% | 0.92% – 1.48% | 1.26% – 2.75% | |||||||
Dividend yield | 0% | 0% | 0% | |||||||
Schedule of Stock Options Vested and Expected to Vest Outstanding [Table Text Block] | ' | |||||||||
(In thousands, except per share data) | Options | Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value | ||||||
Outstanding, January 1, 2013 | 8,381 | $ | 9.22 | |||||||
Granted (1) | 517 | 7.78 | ||||||||
Exercised (2) | -1,088 | 3.89 | ||||||||
Forfeited | -226 | 7.11 | ||||||||
Expired | -675 | 13.58 | ||||||||
Outstanding, December 31, 2013 | 6,909 | 9.6 | 5.9 years | $15,545 | ||||||
Exercisable | 4,264 | 10.9 | 4.7 years | $8,581 | ||||||
Expected to vest | 2,514 | 7.49 | 7.9 years | $6,660 | ||||||
Schedule of Unvested Stock Options Activity [Table Text Block] | ' | |||||||||
(In thousands, except per share data) | Options | Weighted Average Grant Date Fair Value | ||||||||
Unvested, January 1, 2013 | 3,833 | $ | 5.19 | |||||||
Granted | 517 | 4.1 | ||||||||
Vested (1) | -1,479 | 4.8 | ||||||||
Forfeited | -226 | 5.21 | ||||||||
Unvested, December 31, 2013 | 2,645 | 5.21 | ||||||||
Schedule of Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||||
(In thousands, except per share data) | Awards | Price | ||||||||
Outstanding, January 1, 2013 | 1,085 | $ | 6.26 | |||||||
Granted | 1,105 | 7.51 | ||||||||
Vested (restriction lapsed) | -15 | 6.61 | ||||||||
Forfeited | -283 | 7.15 | ||||||||
Outstanding, December 31, 2013 | 1,892 | 6.83 | ||||||||
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] | ' | |||||||||
(In thousands, except per share data) | Years Ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
NUMERATOR: | ||||||||||
Net income (loss) attributable to the Company – common shares | $ | -48,460 | $ | -183,112 | $ | 42,946 | ||||
Less: Participating securities dividends | 2,566 | 8,456 | 2,972 | |||||||
Net income (loss) attributable to the Company per common share – basic and diluted | $ | -51,026 | $ | -191,568 | $ | 39,974 | ||||
DENOMINATOR: | ||||||||||
Weighted average common shares outstanding – basic | 357,662 | 356,915 | 355,907 | |||||||
Effect of dilutive securities: | ||||||||||
Stock options and restricted stock awards (1) | - | - | 621 | |||||||
Weighted average common shares outstanding – diluted | 357,662 | 356,915 | 356,528 | |||||||
Net income (loss) attributable to the Company per common share: | ||||||||||
Basic | $ | -0.14 | $ | -0.54 | $ | 0.11 | ||||
Diluted | $ | -0.14 | $ | -0.54 | $ | 0.11 |
Other_Information_Tables
Other Information (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Other Information Disclosure [Abstract] | ' | |||||||||
Schedule of Other Income (Expense) [Table Text Block] | ' | |||||||||
(In thousands) | Years Ended December 31, | |||||||||
2013 | 2012 | 2011 | ||||||||
Foreign exchange loss | $ | 1,674 | $ | -869 | $ | 796 | ||||
Other | -658 | 505 | -1,445 | |||||||
Total other income (expense) — net | $ | 1,016 | $ | -364 | $ | -649 | ||||
Schedule of Other Current Assets [Table Text Block] | ' | |||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Deferred loan costs | $ | 7,982 | $ | 8,000 | ||||||
Inventory | 24,857 | 20,094 | ||||||||
Deferred tax asset | 16,303 | 458 | ||||||||
Deposits | 3,862 | 4,108 | ||||||||
Other receivables | 5,388 | 4,264 | ||||||||
Other | 9,941 | 4,188 | ||||||||
Total other current assets | $ | 68,333 | $ | 41,112 | ||||||
Schedule of Other Assets [Table Text Block] | ' | |||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Prepaid expenses | $ | 60,667 | $ | 70,586 | ||||||
Deferred loan costs | 50,038 | 57,696 | ||||||||
Deposits | 24,308 | 22,401 | ||||||||
Investments | 17,420 | 16,886 | ||||||||
Other | 2,482 | 1,520 | ||||||||
Total other assets | $ | 154,915 | $ | 169,089 | ||||||
Schedule of Other Current Liabilities [Table Text Block] | ' | |||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Redeemable noncontrolling interest | $ | - | $ | 60,950 | ||||||
Total other current liabilities | $ | - | $ | 60,950 | ||||||
Schedule of Other Long-Term Liabilities [Table Text Block] | ' | |||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Unrecognized tax benefits | $ | 42,070 | $ | 45,769 | ||||||
Asset retirement obligation | 54,832 | 52,571 | ||||||||
Employee related liabilities | 31,617 | 24,265 | ||||||||
Deferred rent | 92,512 | 86,611 | ||||||||
Other | 29,136 | 30,616 | ||||||||
Total other long-term liabilities | $ | 250,167 | $ | 239,832 | ||||||
Schedule of Accumulated Other Comprehensive Loss [Table Text Block] | ' | |||||||||
(In thousands) | As of December 31, | |||||||||
2013 | 2012 | |||||||||
Cumulative currency translation adjustments and other | $ | -214,801 | $ | -212,641 | ||||||
Cumulative unrealized gain on securities | 1,229 | 42 | ||||||||
Total accumulated other comprehensive loss | $ | -213,572 | $ | -212,599 |
Segment_Data_Tables
Segment Data (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Data [Abstract] | ' | ||||||||||||
Schedule of Operating Segment Results [Table Text Block] | ' | ||||||||||||
(In thousands) | Americas Outdoor Advertising | International Outdoor Advertising | Corporate and other reconciling items | Consolidated | |||||||||
Year Ended December 31, 2013 | |||||||||||||
Revenue | $ | 1,290,452 | $ | 1,655,738 | $ | - | $ | 2,946,190 | |||||
Direct operating expenses | 566,669 | 1,028,059 | - | 1,594,728 | |||||||||
Selling, general and administrative expenses | 220,732 | 322,840 | - | 543,572 | |||||||||
Depreciation and amortization | 196,597 | 203,927 | 2,646 | 403,170 | |||||||||
Impairment charges | - | - | 13,150 | 13,150 | |||||||||
Corporate expenses | - | - | 124,399 | 124,399 | |||||||||
Other operating income, net | - | - | 22,979 | 22,979 | |||||||||
Operating income (loss) | $ | 306,454 | $ | 100,912 | $ | -117,216 | $ | 290,150 | |||||
Segment assets | $ | 3,693,308 | $ | 2,029,687 | $ | 1,036,397 | $ | 6,759,392 | |||||
Capital expenditures | $ | 88,991 | $ | 108,548 | $ | 8,648 | $ | 206,187 | |||||
Share-based compensation expense | $ | - | $ | - | $ | 7,725 | $ | 7,725 | |||||
Year Ended December 31, 2012 | |||||||||||||
Revenue | $ | 1,279,257 | $ | 1,667,687 | $ | - | $ | 2,946,944 | |||||
Direct operating expenses | 582,340 | 1,021,152 | - | 1,603,492 | |||||||||
Selling, general and administrative expenses | 211,245 | 363,417 | - | 574,662 | |||||||||
Depreciation and amortization | 192,023 | 205,258 | 1,983 | 399,264 | |||||||||
Impairment charges | - | - | 37,651 | 37,651 | |||||||||
Corporate expenses | - | - | 115,832 | 115,832 | |||||||||
Other operating income, net | - | - | 50,943 | 50,943 | |||||||||
Operating income (loss) | $ | 293,649 | $ | 77,860 | $ | -104,523 | $ | 266,986 | |||||
Segment assets | $ | 3,835,235 | $ | 2,256,309 | $ | 1,014,238 | $ | 7,105,782 | |||||
Capital expenditures | $ | 117,647 | $ | 150,129 | $ | 7,801 | $ | 275,577 | |||||
Share-based compensation expense | $ | - | $ | - | $ | 10,589 | $ | 10,589 | |||||
Year Ended December 31, 2011 | |||||||||||||
Revenue | $ | 1,252,725 | $ | 1,751,149 | $ | - | $ | 3,003,874 | |||||
Direct operating expenses | 566,313 | 1,064,562 | - | 1,630,875 | |||||||||
Selling, general and administrative expenses | 198,989 | 339,043 | - | 538,032 | |||||||||
Depreciation and amortization | 211,009 | 219,955 | 1,071 | 432,035 | |||||||||
Impairment charges | - | - | 7,614 | 7,614 | |||||||||
Corporate expenses | - | - | 100,971 | 100,971 | |||||||||
Other operating income, net | - | - | 8,591 | 8,591 | |||||||||
Operating income (loss) | $ | 276,414 | $ | 127,589 | $ | -101,065 | $ | 302,938 | |||||
Segment assets | $ | 3,886,098 | $ | 2,166,173 | $ | 1,035,914 | $ | 7,088,185 | |||||
Capital expenditures | $ | 122,505 | $ | 166,044 | $ | 4,194 | $ | 292,743 | |||||
Share-based compensation expense | $ | - | $ | - | $ | 10,913 | $ | 10,913 |
Recovered_Sheet1
Quarterly Results Of Operations (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Quarterly Results of Operations (Unaudited) [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Quarterly Results of Operations (Unaudited) [Table Text Block] | ' | ||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended June 30, | Three Months Ended September 30, | Three Months Ended December 31, | ||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Revenue | $ | 650,210 | $ | 651,283 | $ | 766,871 | $ | 761,326 | $ | 723,013 | $ | 731,141 | $ | 806,096 | $ | 803,194 | |||||||||
Operating expenses: | |||||||||||||||||||||||||
Direct operating expenses | 386,191 | 391,718 | 399,558 | 405,314 | 396,094 | 390,639 | 412,885 | 415,821 | |||||||||||||||||
Selling, general and administrative expenses | 139,561 | 152,343 | 133,020 | 131,752 | 131,437 | 136,582 | 139,554 | 153,985 | |||||||||||||||||
Corporate expenses | 27,824 | 27,451 | 33,892 | 29,952 | 29,719 | 28,820 | 32,964 | 29,609 | |||||||||||||||||
Depreciation and amortization | 100,327 | 92,337 | 97,566 | 99,668 | 98,344 | 100,352 | 106,933 | 106,907 | |||||||||||||||||
Impairment charges | - | - | - | - | - | - | 13,150 | 37,651 | |||||||||||||||||
Other operating income, net | 2,103 | 4,003 | 3,697 | 2,746 | 6,604 | 42,397 | 10,575 | 1,797 | |||||||||||||||||
Operating income (loss) | -1,590 | -8,563 | 106,532 | 97,386 | 74,023 | 117,145 | 111,185 | 61,018 | |||||||||||||||||
Interest expense | 88,093 | 67,831 | 88,063 | 102,953 | 87,969 | 102,612 | 88,658 | 100,480 | |||||||||||||||||
Interest income on Due from Clear Channel Communications | 11,920 | 15,980 | 12,496 | 16,089 | 14,940 | 16,913 | 14,854 | 14,779 | |||||||||||||||||
Loss on marketable securities | - | - | - | - | -18 | - | - | -2,578 | |||||||||||||||||
Equity in earnings (loss) of nonconsolidated affiliates | -485 | 421 | 169 | -157 | -645 | -234 | -1,131 | 813 | |||||||||||||||||
Loss on extinguishment of debt | - | - | - | - | - | - | - | -221,071 | |||||||||||||||||
Other income (expense), net | -907 | -494 | -310 | -1,631 | 1,445 | 1,825 | 788 | -64 | |||||||||||||||||
Income (loss) before income taxes | -79,155 | -60,487 | 30,824 | 8,734 | 1,776 | 33,037 | 37,038 | -247,583 | |||||||||||||||||
Income tax benefit (expense) | 5,006 | 15,294 | -12,094 | -8,082 | 10,214 | -8,212 | -17,935 | 108,089 | |||||||||||||||||
Consolidated net income (loss) | -74,149 | -45,193 | 18,730 | 652 | 11,990 | 24,825 | 19,103 | -139,494 | |||||||||||||||||
Less amount attributable to noncontrolling interest | 129 | -1,323 | 9,822 | 8,768 | 7,772 | 7,541 | 6,411 | 8,916 | |||||||||||||||||
Net income (loss) attributable to the Company | $ | -74,278 | $ | -43,870 | $ | 8,908 | $ | -8,116 | $ | 4,218 | $ | 17,284 | $ | 12,692 | $ | -148,410 | |||||||||
Net income (loss) per common share: | |||||||||||||||||||||||||
Basic | $ | -0.22 | $ | -0.14 | $ | 0.02 | $ | -0.02 | $ | 0.01 | $ | 0.05 | $ | 0.04 | $ | -0.42 | |||||||||
Diluted | $ | -0.22 | $ | -0.14 | $ | 0.02 | $ | -0.02 | $ | 0.01 | $ | 0.05 | $ | 0.04 | $ | -0.42 |
Guarantor_Subsidiaries_Tables
Guarantor Subsidiaries (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Guarantor Subsidiaries [Abstract] | ' | ||||||||||||||||||
Schedule Of Guarantor Obligations, Balance Sheet | ' | ||||||||||||||||||
(In thousands) | 31-Dec-13 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash and cash equivalents | $ | 83,185 | $ | - | $ | 5,885 | $ | 225,475 | $ | - | $ | 314,545 | |||||||
Accounts receivable, net of allowance | - | - | 208,029 | 504,106 | - | 712,135 | |||||||||||||
Intercompany receivables | - | 186,659 | 1,592,228 | - | -1,778,887 | - | |||||||||||||
Prepaid expenses | 1,390 | - | 71,730 | 70,295 | - | 143,415 | |||||||||||||
Other current assets | 3 | 6,850 | 20,333 | 41,147 | - | 68,333 | |||||||||||||
Total Current Assets | 84,578 | 193,509 | 1,898,205 | 841,023 | -1,778,887 | 1,238,428 | |||||||||||||
Structures, net | - | - | 1,142,094 | 623,416 | - | 1,765,510 | |||||||||||||
Other property, plant and equipment, net | - | - | 178,149 | 137,439 | - | 315,588 | |||||||||||||
Indefinite-lived intangibles | - | - | 1,055,728 | 12,055 | - | 1,067,783 | |||||||||||||
Other intangibles, net | - | - | 344,178 | 143,748 | - | 487,926 | |||||||||||||
Goodwill | - | - | 571,932 | 278,202 | - | 850,134 | |||||||||||||
Due from Clear Channel Communications | 879,108 | - | - | - | - | 879,108 | |||||||||||||
Intercompany notes receivable | 182,026 | 5,002,517 | - | - | -5,184,543 | - | |||||||||||||
Other assets | 408,083 | 871,363 | 1,373,504 | 61,626 | -2,559,661 | 154,915 | |||||||||||||
Total Assets | $ | 1,553,795 | $ | 6,067,389 | $ | 6,563,790 | $ | 2,097,509 | $ | -9,523,091 | $ | 6,759,392 | |||||||
Accounts payable | $ | - | $ | - | $ | 11,742 | $ | 74,140 | $ | - | $ | 85,882 | |||||||
Intercompany payable | 1,586,370 | - | 186,659 | 5,858 | -1,778,887 | - | |||||||||||||
Accrued expenses | 725 | 1,342 | 105,909 | 455,790 | - | 563,766 | |||||||||||||
Deferred income | - | - | 42,591 | 65,352 | - | 107,943 | |||||||||||||
Current portion of long-term debt | - | - | 47 | 15,952 | - | 15,999 | |||||||||||||
Total Current Liabilities | 1,587,095 | 1,342 | 346,948 | 617,092 | -1,778,887 | 773,590 | |||||||||||||
Long-term debt | - | 4,918,243 | 1,134 | - | - | 4,919,377 | |||||||||||||
Intercompany notes payable | - | - | 5,025,497 | 159,046 | -5,184,543 | - | |||||||||||||
Deferred tax liability | 175 | 85 | 638,141 | 17,749 | - | 656,150 | |||||||||||||
Other long-term liabilities | - | - | 143,925 | 106,242 | - | 250,167 | |||||||||||||
Total shareholders' equity | -33,475 | 1,147,719 | 408,145 | 1,197,380 | -2,559,661 | 160,108 | |||||||||||||
Total Liabilities and Shareholders' Equity | $ | 1,553,795 | $ | 6,067,389 | $ | 6,563,790 | $ | 2,097,509 | $ | -9,523,091 | $ | 6,759,392 | |||||||
(In thousands) | 31-Dec-12 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash and cash equivalents | $ | 207,411 | $ | - | $ | - | $ | 359,361 | $ | -4,793 | $ | 561,979 | |||||||
Accounts receivable, net of allowance | - | - | 258,727 | 495,931 | - | 754,658 | |||||||||||||
Intercompany receivables | - | - | 1,407,392 | - | -1,407,392 | - | |||||||||||||
Prepaid expenses | 2,109 | - | 70,822 | 78,666 | - | 151,597 | |||||||||||||
Other current assets | 9 | 6,850 | 4,231 | 30,022 | - | 41,112 | |||||||||||||
Total Current Assets | 209,529 | 6,850 | 1,741,172 | 963,980 | -1,412,185 | 1,509,346 | |||||||||||||
Structures, net | - | - | 1,231,465 | 659,228 | - | 1,890,693 | |||||||||||||
Other property, plant and equipment, net | - | - | 170,741 | 146,310 | - | 317,051 | |||||||||||||
Indefinite-lived intangibles | - | - | 1,055,168 | 15,552 | - | 1,070,720 | |||||||||||||
Other intangibles, net | - | - | 359,460 | 198,018 | - | 557,478 | |||||||||||||
Goodwill | - | - | 571,933 | 290,315 | - | 862,248 | |||||||||||||
Due from Clear Channel Communications | 729,157 | - | - | - | - | 729,157 | |||||||||||||
Intercompany notes receivable | 182,026 | 5,129,823 | - | - | -5,311,849 | - | |||||||||||||
Other assets | 457,872 | 883,895 | 1,389,289 | 62,271 | -2,624,238 | 169,089 | |||||||||||||
Total Assets | $ | 1,578,584 | $ | 6,020,568 | $ | 6,519,228 | $ | 2,335,674 | $ | -9,348,272 | $ | 7,105,782 | |||||||
Accounts payable | $ | - | $ | - | $ | 13,891 | $ | 86,417 | $ | -4,793 | $ | 95,515 | |||||||
Intercompany payable | 1,373,828 | 15,730 | - | 17,834 | -1,407,392 | - | |||||||||||||
Accrued expenses | 394 | -73,766 | 173,024 | 438,847 | - | 538,499 | |||||||||||||
Deferred income | - | - | 50,153 | 56,881 | - | 107,034 | |||||||||||||
Other current liabilities | - | - | - | 60,950 | - | 60,950 | |||||||||||||
Current portion of long-term debt | - | - | 41 | 9,366 | - | 9,407 | |||||||||||||
Total Current Liabilities | 1,374,222 | -58,036 | 237,109 | 670,295 | -1,412,185 | 811,405 | |||||||||||||
Long-term debt | - | 4,917,702 | 1,182 | 16,504 | - | 4,935,388 | |||||||||||||
Intercompany notes payable | 6,042 | - | 5,036,422 | 269,385 | -5,311,849 | - | |||||||||||||
Deferred tax liability | 226 | 85 | 644,521 | 28,236 | - | 673,068 | |||||||||||||
Other long-term liabilities | - | - | 142,061 | 97,771 | - | 239,832 | |||||||||||||
Total shareholders' equity | 198,094 | 1,160,817 | 457,933 | 1,253,483 | -2,624,238 | 446,089 | |||||||||||||
Total Liabilities and Shareholders' Equity | $ | 1,578,584 | $ | 6,020,568 | $ | 6,519,228 | $ | 2,335,674 | $ | -9,348,272 | $ | 7,105,782 | |||||||
Schedule Of Guarantor Obligations, Income Statement | ' | ||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Revenue | $ | - | $ | - | $ | 1,197,261 | $ | 1,748,929 | $ | - | $ | 2,946,190 | |||||||
Operating expenses: | |||||||||||||||||||
Direct operating expenses | - | - | 506,200 | 1,088,528 | - | 1,594,728 | |||||||||||||
Selling, general and administrative expenses | - | - | 205,240 | 338,332 | - | 543,572 | |||||||||||||
Corporate expenses | 13,057 | 3 | 64,987 | 46,352 | - | 124,399 | |||||||||||||
Depreciation and amortization | - | - | 194,793 | 208,377 | - | 403,170 | |||||||||||||
Impairment charge | - | - | - | 13,150 | - | 13,150 | |||||||||||||
Other operating income (expense), net | -494 | - | 28,129 | -4,656 | - | 22,979 | |||||||||||||
Operating income (loss) | -13,551 | -3 | 254,170 | 49,534 | - | 290,150 | |||||||||||||
Interest (income) expense, net | -143 | 353,189 | 993 | -1,256 | - | 352,783 | |||||||||||||
Interest income on Due from Clear Channel Communications | 54,210 | - | - | - | - | 54,210 | |||||||||||||
Intercompany interest income | 15,112 | 341,612 | 54,857 | - | -411,581 | - | |||||||||||||
Intercompany interest expense | 54,436 | - | 356,724 | 421 | -411,581 | - | |||||||||||||
Loss on marketable securities | - | - | - | -18 | - | -18 | |||||||||||||
Equity in loss of nonconsolidated affiliates | -50,279 | -12,274 | -12,216 | -3,588 | 76,265 | -2,092 | |||||||||||||
Other income (expense), net | 1,432 | - | -9,760 | 9,344 | - | 1,016 | |||||||||||||
Income (loss) before income taxes | -47,369 | -23,854 | -70,666 | 56,107 | 76,265 | -9,517 | |||||||||||||
Income tax benefit (expense) | -1,091 | 4,184 | 20,387 | -38,289 | - | -14,809 | |||||||||||||
Consolidated net income (loss) | -48,460 | -19,670 | -50,279 | 17,818 | 76,265 | -24,326 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | 24,134 | - | 24,134 | |||||||||||||
Net loss attributable to the Company | $ | -48,460 | $ | -19,670 | $ | -50,279 | $ | -6,316 | $ | 76,265 | $ | -48,460 | |||||||
Other comprehensive (loss), net of tax: | |||||||||||||||||||
Foreign currency translation adjustments | -31 | -20 | -7,214 | -2,389 | - | -9,654 | |||||||||||||
Unrealized holding gain on marketable securities | - | - | - | 1,187 | - | 1,187 | |||||||||||||
Other adjustments to comprehensive loss | - | - | - | 6,732 | - | 6,732 | |||||||||||||
Reclassification adjustment for realized loss on marketable securities included in consolidated net income (loss) | -1,432 | - | - | - | - | -1,432 | |||||||||||||
Equity in subsidiary comprehensive income | 490 | 9,159 | 7,704 | - | -17,353 | - | |||||||||||||
Comprehensive loss | -49,433 | -10,531 | -49,789 | -786 | 58,912 | -51,627 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | -2,194 | - | -2,194 | |||||||||||||
Comprehensive income (loss) attributable to the Company | $ | -49,433 | $ | -10,531 | $ | -49,789 | $ | 1,408 | $ | 58,912 | $ | -49,433 | |||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Revenue | $ | - | $ | - | $ | 1,187,641 | $ | 1,759,303 | $ | - | $ | 2,946,944 | |||||||
Operating expenses: | |||||||||||||||||||
Direct operating expenses | - | - | 521,426 | 1,082,066 | - | 1,603,492 | |||||||||||||
Selling, general and administrative expenses | - | - | 196,254 | 378,408 | - | 574,662 | |||||||||||||
Corporate expenses | 12,794 | - | 64,257 | 38,781 | - | 115,832 | |||||||||||||
Depreciation and amortization | - | - | 189,525 | 209,739 | - | 399,264 | |||||||||||||
Impairment charge | - | - | 37,651 | - | - | 37,651 | |||||||||||||
Other operating income (expense), net | -487 | - | 12,086 | 39,344 | - | 50,943 | |||||||||||||
Operating income (loss) | -13,281 | - | 190,614 | 89,653 | - | 266,986 | |||||||||||||
Interest (income) expense, net | -381 | 366,746 | 7,729 | -218 | - | 373,876 | |||||||||||||
Interest income on due with Clear Channel Communications | 63,761 | - | - | - | - | 63,761 | |||||||||||||
Intercompany interest income | 14,421 | 350,870 | 63,761 | 539 | -429,591 | - | |||||||||||||
Intercompany interest expense | 64,225 | - | 364,730 | 636 | -429,591 | - | |||||||||||||
Loss on marketable securities | - | - | - | -2,578 | - | -2,578 | |||||||||||||
Loss on extinguishment of debt | - | -182,062 | -39,009 | - | - | -221,071 | |||||||||||||
Equity in earnings (loss) of nonconsolidated affiliates | -183,774 | 46,643 | -75,629 | -398 | 214,001 | 843 | |||||||||||||
Other income (expense), net | - | -301 | -3,146 | 3,083 | - | -364 | |||||||||||||
Income (loss) before income taxes | -182,717 | -151,596 | -235,868 | 89,881 | 214,001 | -266,299 | |||||||||||||
Income tax benefit (expense) | -395 | 69,697 | 52,094 | -14,307 | - | 107,089 | |||||||||||||
Consolidated net income (loss) | -183,112 | -81,899 | -183,774 | 75,574 | 214,001 | -159,210 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | 23,902 | - | 23,902 | |||||||||||||
Net income (loss) attributable to the Company | $ | -183,112 | $ | -81,899 | $ | -183,774 | $ | 51,672 | $ | 214,001 | $ | -183,112 | |||||||
Other comprehensive income (loss), net of tax | |||||||||||||||||||
Foreign currency translation adjustments | 1,463 | 4 | 1,994 | 32,024 | - | 35,485 | |||||||||||||
Unrealized loss on marketable securities | - | - | - | -2,573 | - | -2,573 | |||||||||||||
Other adjustments to comprehensive income | - | - | - | 1,135 | - | 1,135 | |||||||||||||
Reclassification adjustment for realized loss on marketable securities included in consolidated net income (loss) | - | - | -534 | 2,579 | - | 2,045 | |||||||||||||
Equity in subsidiary comprehensive income (loss) | 32,926 | 9,101 | 31,464 | - | -73,491 | - | |||||||||||||
Comprehensive income (loss) | -148,723 | -72,794 | -150,850 | 84,837 | 140,510 | -147,020 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | -2 | 1,705 | - | 1,703 | |||||||||||||
Comprehensive income (loss) attributable to the Company | $ | -148,723 | $ | -72,794 | $ | -150,848 | $ | 83,132 | $ | 140,510 | $ | -148,723 | |||||||
(In thousands) | Year Ended December 31, 2011 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Revenue | $ | - | $ | - | $ | 1,161,584 | $ | 1,842,290 | $ | - | $ | 3,003,874 | |||||||
Operating expenses: | |||||||||||||||||||
Direct operating expenses | - | - | 503,570 | 1,127,305 | - | 1,630,875 | |||||||||||||
Selling, general and administrative expenses | - | - | 184,428 | 353,604 | - | 538,032 | |||||||||||||
Corporate expenses | 11,913 | - | 54,980 | 34,078 | - | 100,971 | |||||||||||||
Depreciation and amortization | - | - | 207,416 | 224,619 | - | 432,035 | |||||||||||||
Impairment charge | - | - | 6,468 | 1,146 | - | 7,614 | |||||||||||||
Other operating income (expense), net | - | - | 9,326 | -735 | - | 8,591 | |||||||||||||
Operating income (loss) | -11,913 | - | 214,048 | 100,803 | - | 302,938 | |||||||||||||
Interest expense, net | 35 | 231,251 | 6,688 | 4,461 | - | 242,435 | |||||||||||||
Interest income on due with Clear Channel Communications | 45,459 | - | - | - | - | 45,459 | |||||||||||||
Intercompany interest income | 14,008 | 231,606 | 45,459 | 981 | -292,054 | - | |||||||||||||
Intercompany interest expense | 45,951 | - | 245,537 | 566 | -292,054 | - | |||||||||||||
Loss on marketable securities | - | - | - | -4,827 | - | -4,827 | |||||||||||||
Equity in earnings of nonconsolidated affiliates | 41,964 | 33,104 | 39,556 | 5,704 | -114,299 | 6,029 | |||||||||||||
Other income (expense), net | - | -374 | 257 | -532 | - | -649 | |||||||||||||
Income (loss) before income taxes | 43,532 | 33,085 | 47,095 | 97,102 | -114,299 | 106,515 | |||||||||||||
Income tax expense | -586 | -1,004 | -5,131 | -36,575 | - | -43,296 | |||||||||||||
Consolidated net income | 42,946 | 32,081 | 41,964 | 60,527 | -114,299 | 63,219 | |||||||||||||
Less amount attributable to noncontrolling interest | - | - | - | 20,273 | - | 20,273 | |||||||||||||
Net income attributable to the Company | $ | 42,946 | $ | 32,081 | $ | 41,964 | $ | 40,254 | $ | -114,299 | $ | 42,946 | |||||||
Other comprehensive income, net of tax: | |||||||||||||||||||
Foreign currency translation adjustments | - | - | 1,048 | -30,849 | - | -29,801 | |||||||||||||
Unrealized holding loss on marketable securities | - | - | -4,834 | - | - | -4,834 | |||||||||||||
Other adjustments to comprehensive income | - | - | - | -1,361 | - | - | -1,361 | ||||||||||||
Reclassification adjustment for realized loss on marketable securities included in consolidated net income | - | - | 5,148 | - | - | 5,148 | |||||||||||||
Equity in subsidiary comprehensive income | -39,766 | -26,382 | -39,766 | - | 105,914 | - | |||||||||||||
Comprehensive income | 3,180 | 5,699 | 2,199 | 9,405 | -8,385 | 12,098 | |||||||||||||
Less amount attributable to noncontrolling interest | - | -1 | 1 | 8,918 | - | 8,918 | |||||||||||||
Comprehensive income attributable to the Company | $ | 3,180 | $ | 5,700 | $ | 2,198 | $ | 487 | $ | -8,385 | $ | 3,180 | |||||||
Schedule Of Guarantor Obligations, Cash Flow | ' | ||||||||||||||||||
(In thousands) | Year Ended December 31, 2013 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||
Consolidated net income (loss) | $ | -48,460 | $ | -19,670 | $ | -50,279 | $ | 17,818 | $ | 76,265 | $ | -24,326 | |||||||
Reconciling items: | |||||||||||||||||||
Impairment charges | - | - | - | 13,150 | - | 13,150 | |||||||||||||
Depreciation and amortization | - | - | 194,793 | 208,377 | - | 403,170 | |||||||||||||
Deferred taxes | -51 | - | -22,225 | -8,940 | - | -31,216 | |||||||||||||
Provision for doubtful accounts | - | - | 3,211 | 1,913 | - | 5,124 | |||||||||||||
Share-based compensation | - | - | 4,881 | 2,844 | - | 7,725 | |||||||||||||
(Gain) loss on sale of operating and fixed assets | 494 | - | -28,129 | 4,656 | - | -22,979 | |||||||||||||
Loss on marketable securities | - | - | - | 18 | - | 18 | |||||||||||||
Amortization of deferred financing charges and note discounts, net | - | 7,391 | 1,171 | - | - | 8,562 | |||||||||||||
Other reconciling items, net | 48,847 | 12,274 | 15,241 | 2,091 | -76,265 | 2,188 | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||
(Increase) decrease in accounts receivable | - | - | 47,475 | -4,046 | - | 43,429 | |||||||||||||
Increase in accrued expenses | - | - | 4,991 | 13,185 | - | 18,176 | |||||||||||||
Decrease in accounts payable | - | -20 | -2,131 | -13,049 | 4,793 | -10,407 | |||||||||||||
Increase (decrease) in deferred income | - | - | -7,582 | 7,916 | - | 334 | |||||||||||||
Changes in other operating assets and liabilities | 557 | 75,109 | -66,316 | -7,658 | - | 1,692 | |||||||||||||
Net cash provided by operating activities | 1,387 | 75,084 | 95,101 | 238,275 | 4,793 | 414,640 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of property, plant and equipment | - | - | -96,873 | -109,314 | - | -206,187 | |||||||||||||
Proceeds from disposal of assets | - | - | 33,925 | 8,209 | - | 42,134 | |||||||||||||
Purchases of other operating assets | - | - | -9,480 | -1,003 | - | -10,483 | |||||||||||||
Decrease in intercompany notes receivable, net | - | 127,305 | - | - | -127,305 | - | |||||||||||||
Dividends from subsidiaries | 1,153 | - | - | - | -1,153 | - | |||||||||||||
Change in other, net | - | - | -16 | -3,127 | - | -3,143 | |||||||||||||
Net cash provided by (used for) investing activities | 1,153 | 127,305 | -72,444 | -105,235 | -128,458 | -177,679 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Draws on credit facilities | - | - | - | 2,752 | - | 2,752 | |||||||||||||
Payments on credit facilities | - | - | - | -4,815 | - | -4,815 | |||||||||||||
Proceeds from long-term debt | - | - | - | - | - | - | |||||||||||||
Payments on long-term debt | - | - | -41 | -6,585 | - | -6,626 | |||||||||||||
Net transfers to Clear Channel Communications | -149,957 | - | - | - | - | -149,957 | |||||||||||||
Deferred financing charges | - | - | -344 | - | - | -344 | |||||||||||||
Payments to repurchase of noncontrolling interests | - | - | - | -61,143 | - | -61,143 | |||||||||||||
Dividends and other payments to noncontrolling interests | - | - | - | -68,442 | - | -68,442 | |||||||||||||
Dividends paid | -200,010 | - | - | -1,153 | 1,153 | -200,010 | |||||||||||||
Decrease in intercompany notes payable, net | - | - | - | -127,305 | 127,305 | - | |||||||||||||
Intercompany funding | 219,009 | -202,389 | -16,387 | -233 | - | - | |||||||||||||
Change in other, net | 4,192 | - | - | - | - | 4,192 | |||||||||||||
Net cash used for financing activities | -126,766 | -202,389 | -16,772 | -266,924 | 128,458 | -484,393 | |||||||||||||
Effect of exchange rate changes on cash | - | - | - | -2 | - | -2 | |||||||||||||
Net increase (decrease) in cash and cash equivalents | -124,226 | - | 5,885 | -133,886 | 4,793 | -247,434 | |||||||||||||
Cash and cash equivalents at beginning of year | 207,411 | - | - | 359,361 | -4,793 | 561,979 | |||||||||||||
Cash and cash equivalents at end of year | $ | 83,185 | $ | - | $ | 5,885 | $ | 225,475 | $ | - | $ | 314,545 | |||||||
(In thousands) | Year Ended December 31, 2012 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||
Consolidated net income (loss) | $ | -183,112 | $ | -81,899 | $ | -183,774 | $ | 75,574 | $ | 214,001 | $ | -159,210 | |||||||
Reconciling items: | |||||||||||||||||||
Impairment charges | - | - | 37,651 | - | - | 37,651 | |||||||||||||
Depreciation and amortization | - | - | 189,525 | 209,739 | - | 399,264 | |||||||||||||
Deferred taxes | 1 | 222 | -129,431 | -28,107 | - | -157,315 | |||||||||||||
Provision for doubtful accounts | - | - | 3,653 | 3,347 | - | 7,000 | |||||||||||||
Share-based compensation | - | - | 6,060 | 4,529 | - | 10,589 | |||||||||||||
(Gain) loss on sale of operating and fixed assets | 487 | - | -12,086 | -39,344 | - | -50,943 | |||||||||||||
Loss on marketable securities | - | - | - | 2,578 | - | 2,578 | |||||||||||||
Amortization of deferred financing charges and note discounts, net | - | 3,636 | 7,327 | - | - | 10,963 | |||||||||||||
Loss on extinguishment of debt | - | 182,062 | 39,009 | - | - | 221,071 | |||||||||||||
Other reconciling items, net | 183,774 | -46,643 | 76,543 | 439 | -214,001 | 112 | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||
Increase in accounts receivable | - | - | -26,922 | -19,372 | - | -46,294 | |||||||||||||
Increase in accrued expenses | - | - | 2,868 | 22,426 | - | 25,294 | |||||||||||||
Increase (decrease) in accounts payable | - | - | -25,587 | 394 | 27,696 | 2,503 | |||||||||||||
Increase in deferred income | - | - | 15,694 | 8,375 | - | 24,069 | |||||||||||||
Changes in other operating assets and liabilities | -327 | -76,100 | 102,907 | 1,326 | - | 27,806 | |||||||||||||
Net cash provided by (used for) operating activities | 823 | -18,722 | 103,437 | 241,904 | 27,696 | 355,138 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of property, plant and equipment | - | - | -123,470 | -152,107 | - | -275,577 | |||||||||||||
Proceeds from disposal of assets | - | - | 9,949 | 46,484 | - | 56,433 | |||||||||||||
Purchases of other operating assets | - | - | -1,032 | -4,687 | - | -5,719 | |||||||||||||
Purchases of businesses | - | - | - | -4,721 | - | -4,721 | |||||||||||||
Increase in intercompany notes receivable, net | - | -2,355,648 | -3,763 | - | 2,359,411 | - | |||||||||||||
Dividends from subsidiaries | 2,167,000 | - | 641 | - | -2,167,641 | - | |||||||||||||
Change in other, net | - | - | -1,000 | -3,164 | - | -4,164 | |||||||||||||
Net cash provided by (used for) investing activities | 2,167,000 | -2,355,648 | -118,675 | -118,195 | 191,770 | -233,748 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Draws on credit facilities | - | - | - | 2,063 | - | 2,063 | |||||||||||||
Payments on credit facilities | - | - | - | -3,368 | - | -3,368 | |||||||||||||
Proceeds from long-term debt | - | 4,917,643 | - | - | - | 4,917,643 | |||||||||||||
Payments on long-term debt | - | -2,682,062 | -120 | -18,604 | - | -2,700,786 | |||||||||||||
Net transfers to Clear Channel Communications | -73,127 | - | - | - | - | -73,127 | |||||||||||||
Deferred financing charges | - | -60,250 | -9,738 | - | - | -69,988 | |||||||||||||
Payments to repurchase noncontrolling interests | - | - | - | -7,040 | - | -7,040 | |||||||||||||
Dividends and other payments to noncontrolling interests | - | - | - | -6,931 | - | -6,931 | |||||||||||||
Dividends paid | -2,170,396 | - | -2,167,000 | -641 | 2,167,641 | -2,170,396 | |||||||||||||
Increase in intercompany notes payable, net | - | - | 2,355,648 | 3,763 | -2,359,411 | - | |||||||||||||
Intercompany funding | -48,966 | 199,039 | -163,552 | 13,479 | - | - | |||||||||||||
Change in other, net | 6,381 | - | - | - | - | 6,381 | |||||||||||||
Net cash provided by (used for) financing activities | -2,286,108 | 2,374,370 | 15,238 | -17,279 | -191,770 | -105,549 | |||||||||||||
Effect of exchange rate changes on cash | - | - | - | 3,483 | - | 3,483 | |||||||||||||
Net increase (decrease) in cash and cash equivalents | -118,285 | - | - | 109,913 | 27,696 | 19,324 | |||||||||||||
Cash and cash equivalents at beginning of year | 325,696 | - | - | 249,448 | -32,489 | 542,655 | |||||||||||||
Cash and cash equivalents at end of year | $ | 207,411 | $ | - | $ | - | $ | 359,361 | $ | -4,793 | $ | 561,979 | |||||||
(In thousands) | Year Ended December 31, 2011 | ||||||||||||||||||
Parent | Subsidiary | Guarantor | Non-Guarantor | ||||||||||||||||
Company | Issuer | Subsidiaries | Subsidiaries | Eliminations | Consolidated | ||||||||||||||
Cash flows from operating activities: | |||||||||||||||||||
Consolidated net income (loss) | $ | 42,946 | $ | 32,081 | $ | 41,964 | $ | 60,527 | $ | -114,299 | $ | 63,219 | |||||||
Reconciling items: | |||||||||||||||||||
Impairment charges | - | - | 6,468 | 1,146 | - | 7,614 | |||||||||||||
Depreciation and amortization | - | - | 207,416 | 224,619 | - | 432,035 | |||||||||||||
Deferred taxes | - | -137 | 12,409 | -13,665 | - | -1,393 | |||||||||||||
Provision for doubtful accounts | - | - | 1,351 | 4,626 | - | 5,977 | |||||||||||||
Share-based compensation | - | - | 7,748 | 3,165 | - | 10,913 | |||||||||||||
(Gain) loss on sale of operating and fixed assets | - | - | -9,326 | 735 | - | -8,591 | |||||||||||||
Loss on marketable securities | - | - | - | 4,827 | - | 4,827 | |||||||||||||
Amortization of deferred financing charges and note discounts, net | - | - | 7,653 | - | - | 7,653 | |||||||||||||
Other reconciling items, net | -41,964 | -32,730 | -39,704 | -5,230 | 114,299 | -5,329 | |||||||||||||
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | |||||||||||||||||||
(Increase) decrease in accounts receivable | - | - | 16,301 | -472 | - | 15,829 | |||||||||||||
Increase (decrease) in accrued expenses | - | 96 | -38,341 | 2,403 | - | -35,842 | |||||||||||||
Increase in accounts payable | - | - | 40,587 | 9,091 | -25,976 | 23,702 | |||||||||||||
Decrease in deferred income | - | - | -3,564 | -6,648 | - | -10,212 | |||||||||||||
Changes in other operating assets and liabilities | -661 | 969 | -7,825 | 14,333 | - | 6,816 | |||||||||||||
Net cash provided by operating activities | 321 | 279 | 243,137 | 299,457 | -25,976 | 517,218 | |||||||||||||
Cash flows from investing activities: | |||||||||||||||||||
Purchases of property, plant and equipment | - | - | -121,305 | -169,745 | - | -291,050 | |||||||||||||
Proceeds from disposal of assets | - | - | 8,746 | 4,137 | - | 12,883 | |||||||||||||
Purchases of other operating assets | - | - | -14,203 | -591 | - | -14,794 | |||||||||||||
Purchases of businesses | - | - | - | -13,179 | - | -13,179 | |||||||||||||
Decrease in intercompany notes receivable, net | - | 66,780 | - | - | -66,780 | - | |||||||||||||
Dividends from subsidiaries | - | - | 704 | - | -704 | - | |||||||||||||
Change in other, net | - | - | -488 | 7,495 | 199 | 7,206 | |||||||||||||
Net cash provided by (used for) investing activities | - | 66,780 | -126,546 | -171,883 | -67,285 | -298,934 | |||||||||||||
Cash flows from financing activities: | |||||||||||||||||||
Draws on credit facilities | - | - | - | - | - | - | |||||||||||||
Payments on credit facilities | - | - | -397 | -3,754 | - | -4,151 | |||||||||||||
Proceeds from long-term debt | - | - | - | 5,012 | - | 5,012 | |||||||||||||
Payments on long-term debt | - | - | - | -20,099 | - | -20,099 | |||||||||||||
Net transfers to Clear Channel Communications | -272,262 | - | - | - | - | -272,262 | |||||||||||||
Deferred financing charges | - | - | - | - | - | - | |||||||||||||
Payments to repurchase noncontrolling interests | - | - | - | -4,682 | - | -4,682 | |||||||||||||
Dividends and other payments to noncontrolling interests | - | - | - | -3,571 | - | -3,571 | |||||||||||||
Dividends paid | - | - | - | -704 | 704 | - | |||||||||||||
(Decrease) increase in intercompany notes payable, net | - | - | 277 | -67,057 | 66,780 | - | |||||||||||||
Intercompany funding | 169,805 | -67,059 | -116,390 | 13,644 | - | - | |||||||||||||
Change in other, net | 1,090 | - | -81 | 199 | -199 | 1,009 | |||||||||||||
Net cash used for financing activities | -101,367 | -67,059 | -116,591 | -81,012 | 67,285 | -298,744 | |||||||||||||
Effect of exchange rate changes on cash | - | - | - | -903 | - | -903 | |||||||||||||
Net increase (decrease) in cash and cash equivalents | -101,046 | - | - | 45,659 | -25,976 | -81,363 | |||||||||||||
Cash and cash equivalents at beginning of year | 426,742 | - | - | 203,789 | -6,513 | 624,018 | |||||||||||||
Cash and cash equivalents at end of year | $ | 325,696 | $ | - | $ | - | $ | 249,448 | $ | -32,489 | $ | 542,655 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Schedule Of Valuation And Qualifying Accounts Tables [Abstract] | ' | |||||||||||||||
Schedule Of Valuation And Qualifying Accounts Disclosure [Table Text Block] | ' | |||||||||||||||
(In thousands) | Charges | |||||||||||||||
Balance at | to Costs, | Write-off | Balance | |||||||||||||
Beginning | Expenses | of Accounts | at End of | |||||||||||||
Description | of period | and other | Receivable | Other (1) | Period | |||||||||||
Year ended December 31, 2011 | $ | 49,032 | $ | 5,977 | $ | 13,530 | $ | -129 | $ | 41,350 | ||||||
Year ended December 31, 2012 | $ | 41,350 | $ | 7,000 | $ | 6,955 | $ | -4,726 | $ | 36,669 | ||||||
Year ended December 31, 2013 | $ | 36,669 | $ | 5,124 | $ | 9,390 | $ | 724 | $ | 33,127 | ||||||
(In thousands) | Charges | |||||||||||||||
Balance at | to Costs, | Balance | ||||||||||||||
Beginning | Expenses | at end of | ||||||||||||||
Description | of Period | and other (1) | Reversal (2) | Adjustments (3) | Period | |||||||||||
Year ended December 31, 2011 | $ | 189,405 | $ | 8,548 | $ | -5,235 | $ | -3,520 | $ | 189,198 | ||||||
Year ended December 31, 2012 | $ | 189,198 | $ | 14,309 | $ | -21,727 | $ | -1,973 | $ | 179,807 | ||||||
Year ended December 31, 2013 | $ | 179,807 | $ | 5,647 | $ | -5 | $ | -5,165 | $ | 180,284 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | |
Americas [Member] | International [Member] | International [Member] | Furniture and other equipment [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Clear Channel Communications | Class A common stock [Member] | Class A common stock [Member] | Class A common stock [Member] | Class A common stock [Member] | Class A common stock [Member] | Class B common stock [Member] | Class B common stock [Member] | Class B common stock [Member] | Class B common stock [Member] | Class B common stock [Member] | ||||||||||||
International [Member] | Building and Improvements [Member] | Structures [Member] | Furniture and other equipment [Member] | Building and Improvements [Member] | Structures [Member] | Furniture and other equipment [Member] | votes | Clear Channel Communications | votes | Clear Channel Communications | ||||||||||||||||||||||||
Subsidiary Sale Of Stock Line Items | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
IPO transaction date | ' | ' | ' | ' | ' | ' | ' | ' | 11-Nov-05 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of stock sold in IPO transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued in IPO transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,117,843 | 42,357,863 | 41,138,735 | 40,886,923 | 1,553,971 | 315,000,000 | 315,000,000 | 315,000,000 | 315,000,000 | 315,000,000 |
Percentage of shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting power | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Votes per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | 20 | ' | ' | ' | ' |
Purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 94,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Statement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '5 years | '3 years | ' | '39 years | '15 years | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Land leases period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'one to 12 months | 'one to 12 months | ' | 'up to 20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other than temporary impairment for available for sale securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,600,000 | 4,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill impairment charge | ' | ' | ' | ' | ' | ' | ' | ' | 10,684,000 | ' | ' | ' | ' | -1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising expenses | ' | ' | ' | ' | ' | ' | ' | ' | 18,600,000 | 17,200,000 | 14,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in earnings (loss) of nonconsolidated affiliates | -1,131,000 | -645,000 | 169,000 | -485,000 | 813,000 | -234,000 | -157,000 | 421,000 | -2,092,000 | 843,000 | 6,029,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional deferred foreign tax expense | ' | ' | ' | ' | ' | ' | ' | ' | $3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property_Plant_And_Equipment_I2
Property, Plant And Equipment, Intangible Assets And Goodwill (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Structure impairment | ' | $1,700,000 | ' |
Amortization expense | 70,900,000 | 75,200,000 | 101,700,000 |
Goodwill impairment charge | 10,684,000 | ' | ' |
Americas [Member] | ' | ' | ' |
Cumulative goodwill impairment | ' | ' | 2,600,000,000 |
International [Member] | ' | ' | ' |
Goodwill impairment charge | ' | ' | -1,100,000 |
Cumulative goodwill impairment | ' | ' | 315,900,000 |
Billboard permits [Member] | ' | ' | ' |
Impairment charge of indefinitive-lived intangible assets | $2,500,000 | $35,900,000 | $6,500,000 |
Property_Plant_And_Equipment_I3
Property, Plant And Equipment, Intangible Assets And Goodwill (Schedule Of Property, Plant And Equipment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | $3,466,481 | $3,370,528 |
Less: accumulated depreciation | 1,385,383 | 1,162,784 |
Property, plant and equipment, net | 2,081,098 | 2,207,744 |
Land, buildings and improvements | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 213,670 | 210,382 |
Structures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 3,021,152 | 2,949,458 |
Furniture and other equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 147,768 | 134,389 |
Construction in progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | $83,891 | $76,299 |
Property_Plant_And_Equipment_I4
Property, Plant And Equipment, Intangible Assets And Goodwill (Schedule Of Definite-Lived Intangible Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $954,106 | $962,960 |
Accumulated Amortization | -466,180 | -405,482 |
Transit, street furniture and other contractual rights [Member] | ' | ' |
Other Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 777,521 | 785,303 |
Accumulated Amortization | -464,548 | -403,955 |
Permanent easements [Member] | ' | ' |
Other Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 173,753 | 173,374 |
Accumulated Amortization | 0 | 0 |
Other [Member] | ' | ' |
Other Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 2,832 | 4,283 |
Accumulated Amortization | ($1,632) | ($1,527) |
Property_Plant_And_Equipment_I5
Property, Plant And Equipment, Intangible Assets And Goodwill (Schedule Of Future Amortization Expenses) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Property, Plant And Equipment, Intangible Assets And Goodwill [Abstract] | ' |
2014 | $65,291 |
2015 | 55,110 |
2016 | 42,875 |
2017 | 31,461 |
2018 | $22,991 |
Property_Plant_And_Equipment_I6
Property, Plant And Equipment, Intangible Assets And Goodwill (Schedule Of Goodwill) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | $862,248 | $857,193 |
Foreign currency | -974 | 7,784 |
Impairment | -10,684 | ' |
Dispositions | -456 | -2,729 |
Goodwill, Ending Balance | 850,134 | 862,248 |
CCOH [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Ending Balance | ' | 0 |
Americas [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 571,932 | 571,932 |
Foreign currency | 0 | 0 |
Impairment | 0 | ' |
Dispositions | 0 | 0 |
Goodwill, Ending Balance | 571,932 | 571,932 |
International [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, Beginning Balance | 290,316 | 285,261 |
Foreign currency | -974 | 7,784 |
Impairment | -10,684 | ' |
Dispositions | -456 | -2,729 |
Goodwill, Ending Balance | $278,202 | $290,316 |
Investments_Narrative_Details
Investments (Narrative) (Details) | Dec. 31, 2013 |
Alessi [Member] | ' |
Percentage of Ownership | 49.00% |
Buspak [Member] | ' |
Percentage of Ownership | 50.00% |
Investments_Schedule_of_Invest
Investments (Schedule of Investments in Nonconsolidated Affiliates) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investment, beginning balance | ' | ' | ' | $16,123 | ' | ' | ' | $11,168 | $16,123 | $11,168 | ' |
Equity in net earnings (loss) | -1,131 | -645 | 169 | -485 | 813 | -234 | -157 | 421 | -2,092 | 843 | 6,029 |
Additions (dispositions) of investments, net | ' | ' | ' | ' | ' | ' | ' | ' | 54 | 1,082 | ' |
Other, net | 1,301 | ' | ' | ' | 3,040 | ' | ' | ' | 1,301 | 3,040 | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 5 | -10 | ' |
Investments | 15,391 | ' | ' | ' | 16,123 | ' | ' | ' | 15,391 | 16,123 | 11,168 |
Buspak [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment, beginning balance | ' | ' | ' | 10,643 | ' | ' | ' | 7,911 | 10,643 | 7,911 | ' |
Equity in net earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -144 | 1,558 | ' |
Additions (dispositions) of investments, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Other, net | 0 | ' | ' | ' | 1,209 | ' | ' | ' | 0 | 1,209 | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | -4 | -35 | ' |
Investments | 10,495 | ' | ' | ' | 10,643 | ' | ' | ' | 10,495 | 10,643 | ' |
All Others [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment, beginning balance | ' | ' | ' | 5,480 | ' | ' | ' | 3,257 | 5,480 | 3,257 | ' |
Equity in net earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -1,948 | -715 | ' |
Additions (dispositions) of investments, net | ' | ' | ' | ' | ' | ' | ' | ' | 54 | 1,082 | ' |
Other, net | 1,301 | ' | ' | ' | 1,831 | ' | ' | ' | 1,301 | 1,831 | ' |
Foreign currency translation adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 9 | 25 | ' |
Investments | $4,896 | ' | ' | ' | $5,480 | ' | ' | ' | $4,896 | $5,480 | ' |
Asset_Retirement_Obligation_Na
Asset Retirement Obligation (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Asset Retirement Obligation [Abstract] | ' |
Asset retirement obligations description | 'Due to the high rate of lease renewals over a long period of time, the calculation assumes that all related assets will be removed at some period over the next 50 years. |
Asset_Retirement_Obligation_Sc
Asset Retirement Obligation (Schedule of Asset Retirement Obligation) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Beginning balance | $52,571 | $47,534 |
Adjustment due to change in estimate of related costs | 808 | 3,172 |
Accretion of liability | 4,612 | 4,490 |
Liabilities settled | -3,159 | -2,625 |
Ending balance | $54,832 | $52,571 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2012 | Mar. 15, 2012 | Dec. 31, 2012 | Mar. 15, 2012 | Mar. 15, 2012 | Mar. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 15, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Level 1 [Member] | Level 1 [Member] | Senior Secured Credit Facility [Member] | Clear Channel Communications Revolving Credit Facility [Member] | Clear Channel Communications Revolving Credit Facility [Member] | International Subsidiaries Sublimit [Member] | International Subsidiaries Sublimit [Member] | Before Repayments [Member] | Before Repayments [Member] | 6.5% Series A Senior Notes Due 2022 [Member] | 6.5% Series B Senior Notes Due 2022 [Member] | 7.625% Series A Senior Subordinated Notes [Member] | 7.625% Series B Senior Subordinated Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | |||
Clear Channel Communications Revolving Credit Facility [Member] | International Subsidiaries Sublimit [Member] | 6.5% Series A Senior Notes Due 2022 [Member] | 6.5% Series A Senior Notes Due 2022 [Member] | 6.5% Series B Senior Notes Due 2022 [Member] | 6.5% Series B Senior Notes Due 2022 [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market value | $5,100,000,000 | $5,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value level | ' | ' | 5,100,000,000 | 5,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 735,750,000 | 1,989,250,000 | 275,000,000 | 1,925,000,000 | 2,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | 7.63% | ' | 6.50% | 6.50% | 6.50% | 6.50% | ' | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2020 | '2020 | ' | '2022 | '2022 | '2022 | '2022 | ' | ' | '2018 | '2018 |
Line of credit facility maximum borrowing capacity | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | 750,000 | 1,900,000,000 | 145,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' |
Letters of credit outstanding | 69,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,100,000 | ' |
Debt instrument, payment terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Interest on the CCWH Senior Notes is payable to the trustee weekly in arrears and to the noteholders on May 15 and November 15 of each year, which began on May 15, 2013 | ' | ' | ' | ' | ' | 'Interest on the CCWH Subordinated Notes is payable to the trustee weekly in arrears and to the noteholders on March 15 and September 15 of each year, which began on September 15, 2012. | ' | ' |
Redemption date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'November 15, 2017 | ' | ' | ' | ' | ' | 'March 15, 2015 | ' | ' |
Redemption percentage equal to principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Maximum debt instrument principal redemption amount not subject to a make whole premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | 40.00% | ' | ' |
Debt instrument redemption price as a percentage of principal amount with no make whole premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106.50% | ' | ' | ' | ' | ' | 107.63% | ' | ' |
Purchase redemption ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '25 | ' | ' | ' | ' | ' | '25 | ' | ' |
Total debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | 40,000,000 | ' | ' |
Purchaser's discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,400,000 | ' | ' | ' | ' | ' | 33,000,000 | ' | ' |
Related party loan to CCOI | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,167,000,000 | ' | ' |
Dividends declared per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $6.08 | ' | ' | ' |
Dividends payable date of record | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'March 12, 2012 | ' | ' | ' |
Dividends payable date to be paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'March 15, 2012 | ' | ' | ' |
Repayments | ' | ' | ' | ' | ' | 10,000,000 | ' | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayments of debt | ' | ' | ' | ' | 170,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum ratio of total debt to EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 7 | ' | 7 | ' | 7 | ' | ' | ' | ' | ' |
Maximum ratio of senior debt to EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum permissable dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 525,000,000 | ' | ' | ' | 525,000,000 | ' | ' | ' | ' | ' |
Dividend distributed to other stockholders | -68,441,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 244,700,000 | ' | ' | ' |
Special cash dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,170,400,000 | ' | ' | ' |
Dividend distributed to related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,925,700,000 | ' | ' | ' |
Other debt | 17,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other debt maturing in less than one year | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original issue discount | $6,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_Of_Long
Long-Term Debt (Schedule Of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Total debt | $4,935,376 | $4,944,795 |
Less: current portion | 15,999 | 9,407 |
Total long-term debt | 4,919,377 | 4,935,388 |
7.625% Series A Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Stated interest rate | 7.63% | ' |
Maturity date | '2020 | ' |
7.625% Series B Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Stated interest rate | 7.63% | ' |
Maturity date | '2020 | ' |
Original Issue Discount [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | -6,757 | -7,298 |
CCOH [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Less: current portion | ' | 0 |
Total long-term debt | ' | 0 |
Senior Notes [Member] | 6.5% Series A Senior Notes Due 2022 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 735,750 | 735,750 |
Stated interest rate | 6.50% | 6.50% |
Maturity date | '2022 | '2022 |
Senior Notes [Member] | 6.5% Series B Senior Notes Due 2022 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 1,989,250 | 1,989,250 |
Stated interest rate | 6.50% | 6.50% |
Maturity date | '2022 | '2022 |
Senior Subordinated Notes [Member] | 7.625% Series A Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 275,000 | 275,000 |
Stated interest rate | 7.63% | 7.63% |
Maturity date | '2020 | '2020 |
Senior Subordinated Notes [Member] | 7.625% Series B Senior Subordinated Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 1,925,000 | 1,925,000 |
Stated interest rate | 7.63% | 7.63% |
Maturity date | '2020 | '2020 |
Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | 0 | 0 |
Maturity date | '2018 | '2018 |
Other Debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Total debt | $17,133 | $27,093 |
LongTerm_Debt_Schedule_of_Debt
Long-Term Debt (Schedule of Debt Maturities) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Maturities [Abstract] | ' |
2014 | $15,999 |
2015 | 57 |
2016 | 64 |
2017 | 74 |
2018 | 84 |
Thereafter | 4,925,855 |
Total | $4,942,133 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
signs | |||
lawsuits | |||
permits | |||
Commitments And Contingencies [Abstract] | ' | ' | ' |
Maximum aggregate contingency subject to performance requirements of the seller | $30 | ' | ' |
Rent expense | 1,017 | 1,011.20 | 1,029.30 |
Stockholder Litigation [Abstract] | ' | ' | ' |
Derivative lawsuits | 2 | ' | ' |
Lawsuit filing date | '2012-03-31 | ' | ' |
Breach date | 31-Dec-09 | ' | ' |
Binding memorandum of understanding date | 28-Mar-13 | ' | ' |
Stipulation of Settlement execution date | 8-Jul-13 | ' | ' |
Original Stipulation of Settlement 8-K filing date | 9-Jul-13 | ' | ' |
Settlement approval date | 9-Sep-13 | ' | ' |
Right to appeal expiration date | 9-Oct-13 | ' | ' |
Repayment demand notification date | 19-Oct-13 | ' | ' |
Demand repayment amount | 200 | ' | ' |
Repayment date | 8-Nov-13 | ' | ' |
Declared dividend | $200 | ' | ' |
Note amendment date | 23-Oct-13 | ' | ' |
Dividend declaration 8-K filing date | 21-Oct-13 | ' | ' |
Note amendment 8-K filing date | 23-Oct-13 | ' | ' |
Demand and dividend 8-K filing date | 8-Nov-13 | ' | ' |
Los Angeles Litigation [Abstract] | ' | ' | ' |
Lawsuit date | 31-Dec-08 | ' | ' |
Settlement agreement date | 30-Nov-06 | ' | ' |
Ruling date | 31-Jan-10 | ' | ' |
Conversion from static to digital | 83 | ' | ' |
Upholding date | 10-Dec-12 | ' | ' |
Review request date | 22-Jan-13 | ' | ' |
Review denial date | 27-Feb-13 | ' | ' |
Invalidation date | 12-Apr-13 | ' | ' |
Digital modernization permits issued to Company | 82 | ' | ' |
Digital displays operating | 77 | ' | ' |
Digital displays not invalidated | 2 | ' | ' |
Digital modernization permits issued to competitor | 13 | ' | ' |
Turn off date | 15-Apr-13 | ' | ' |
Further proceedings conducted date | 16-Apr-13 | ' | ' |
Demolition denial date | 22-Nov-13 | ' | ' |
Attorney's fees denial date | 21-Jan-14 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule Of Minimum Rental Commitments) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Non-Cancelable Operating Leases [Abstract] | ' |
2014 | $301,974 |
2015 | 285,230 |
2016 | 226,536 |
2017 | 193,560 |
2018 | 161,363 |
Thereafter | 1,002,099 |
Total | 2,170,762 |
Non-Cancelable Contracts [Abstract] | ' |
2014 | 368,095 |
2015 | 278,113 |
2016 | 224,480 |
2017 | 193,884 |
2018 | 0 |
Thereafter | 539,200 |
Total | 1,603,772 |
Capital Expenditure Commitments [Abstract] | ' |
2014 | 44,224 |
2015 | 27,007 |
2016 | 14,382 |
2017 | 2,454 |
2018 | 152 |
Thereafter | 23,532 |
Total | 111,751 |
Employment Contracts Future Minimum Payments Due [Abstract] | ' |
2014 | 6,645 |
2015 | 3,434 |
2016 | 940 |
2017 | 83 |
2018 | 0 |
Thereafter | 0 |
Total | $11,102 |
Guarantees_Narrative_Detail
Guarantees (Narrative) (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Guarantees [Abstract] | ' |
Letters of credit outstanding | $69.40 |
Letters of credit secured | 33 |
Commercial standby letters of credit | 3 |
Surety bonds, outstanding | 44.2 |
Letter of credit as collateral | 2 |
Bank guarantees outstanding | 57.4 |
Secured bank guarantees | $13.30 |
Related_Party_Transations_Narr
Related Party Transations (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Due from Clear Channel Communications | $879,108,000 | ' | ' | ' | $729,157,000 | ' | ' | ' | $879,108,000 | $729,157,000 | ' | ' |
Interest income on Due from Clear Channel Communications | 14,854,000 | 14,940,000 | 12,496,000 | 11,920,000 | 14,779,000 | 16,913,000 | 16,089,000 | 15,980,000 | 54,210,000 | 63,761,000 | 45,459,000 | ' |
Cash and cash equivalents | 314,545,000 | ' | ' | ' | 561,979,000 | ' | ' | ' | 314,545,000 | 561,979,000 | 542,655,000 | 624,018,000 |
Allocation of corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | 35,400,000 | 35,900,000 | 26,400,000 | ' |
Period cost for employee benefit plans | 10,500,000 | ' | ' | ' | 11,500,000 | ' | ' | ' | 10,500,000 | 11,500,000 | 12,100,000 | ' |
Total authorized stock repurchase amount | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' |
CC Finco, LLC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of class A common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,553,971 | ' |
Open market purchase amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,400,000 | ' |
Clear Channel Communications | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face value of promisory note with related party | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' |
Cash and cash equivalents | 708,200,000 | ' | ' | ' | ' | ' | ' | ' | 708,200,000 | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 15-Dec-17 | ' | ' | ' |
Advertising revenue | ' | ' | ' | ' | ' | ' | ' | ' | $2,500,000 | $1,200,000 | $4,100,000 | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deferred Tax Assets Net Current Classification [Abstract] | ' | ' | ' |
Deferred tax assets relating to stock-based compensation expense | $15,300,000 | $17,000,000 | ' |
Deferred tax liabilities foreign | 16,900,000 | 27,400,000 | ' |
Increase Decrease In Deferred Tax Benefit | 126,100,000 | 155,900,000 | ' |
Deferred Tax Assets Operating Loss Carryforwards Components [Abstract] | ' | ' | ' |
Net operating loss carryforwards (tax effected) subject to expiration | 287,800,000 | ' | ' |
Latest expiration date of net operating loss carryforwards | '2033 | ' | ' |
Foreign net operating loss carryforwards (tax effected) | 170,800,000 | ' | ' |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments [Abstract] | ' | ' | ' |
Effective tax rate | -156.00% | 40.00% | 41.00% |
Income tax benefit (expense) | -14,809,000 | 107,089,000 | -43,296,000 |
Foreign income before taxes | 47,500,000 | 84,600,000 | 94,200,000 |
Additional deferred foreign tax expense | 3,400,000 | ' | ' |
Current tax benefit (expense) | 46,025,000 | 50,226,000 | 44,689,000 |
Deferred tax benefit (expense) | -31,216,000 | -157,315,000 | -1,393,000 |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued [Abstract] | ' | ' | ' |
Interest and penalties accrued related to unrecognized tax benefits | 9,600,000 | 8,000,000 | ' |
Total unrecognized tax benefits and accrued interest and penalties | 62,200,000 | 53,800,000 | ' |
Portion of unrecognized tax benefits, interest and penalties included in "Other long-term liabilities" | 42,100,000 | 45,800,000 | ' |
Portion of unrecognized tax benefits, interest and penalties included in "Accrued Expenses" | 4,100,000 | ' | ' |
Noncurrent portion of unrecognized tax benefits netted against deferred tax assets | 16,100,000 | 8,100,000 | ' |
Unrecognized tax benefits that would impact effective tax rate | 45,400,000 | 38,400,000 | ' |
Income tax settlement inclusive of interest paid to foreign tax agencies | ' | 7,200,000 | ' |
Reversal of tax liabilities including interest resulting from expired statute of limitations | 7,900,000 | ' | ' |
Valuation Allowance [Abstract] | ' | ' | ' |
Valuation allowance foreign | 156,800,000 | ' | ' |
Valuation allowance foreign other | $23,500,000 | ' | ' |
Income_Taxes_Schedule_Of_Provi
Income Taxes (Schedule Of Provision For Income Taxes) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense Benefit [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current - Federal | ' | ' | ' | ' | ' | ' | ' | ' | ($1,470) | ($465) | ($340) |
Current - foreign | ' | ' | ' | ' | ' | ' | ' | ' | -45,327 | -47,632 | -50,285 |
Current - state | ' | ' | ' | ' | ' | ' | ' | ' | 772 | -2,129 | 5,936 |
Total current benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -46,025 | -50,226 | -44,689 |
Deferred - Federal | ' | ' | ' | ' | ' | ' | ' | ' | 21,369 | 119,195 | -8,986 |
Deferred - foreign | ' | ' | ' | ' | ' | ' | ' | ' | 8,278 | 28,502 | 13,708 |
Deferred - state | ' | ' | ' | ' | ' | ' | ' | ' | 1,569 | 9,618 | -3,329 |
Total deferred tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 31,216 | 157,315 | 1,393 |
Income tax benefit (expense) | ($17,935) | $10,214 | ($12,094) | $5,006 | $108,089 | ($8,212) | ($8,082) | $15,294 | ($14,809) | $107,089 | ($43,296) |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Tax Liabilities [Abstract] | ' | ' |
Intangibles and fixed assets | $951,405 | $949,507 |
Equity in Earnings | 1,062 | 482 |
Other investments | 6,486 | 3,009 |
Total deferred tax liabilities | 958,953 | 952,998 |
Deferred Tax Assets [Abstract] | ' | ' |
Accrued expenses | 17,791 | 11,181 |
Net operating loss carryforwards | 458,670 | 422,472 |
Bad debt reserves | 3,962 | 5,331 |
Other | 18,967 | 21,211 |
Total deferred tax assets | 499,390 | 460,195 |
Less: Valuation allowance | 180,284 | 179,807 |
Net deferred tax assets | 319,106 | 280,388 |
Net deferred tax liabilities | 639,847 | 672,610 |
Less: current portion of deferred tax asset (liability) | 16,303 | 458 |
Long-term net deferred tax liabilities | $656,150 | $673,068 |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Tax Benefit Reconciled To Federal Tax Rates) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Income Tax Rates [Abstract] | ' | ' | ' |
Income tax benefit (expense) at statutory rates | $3,331 | $93,205 | ($37,280) |
State income taxes, net of federal tax effect | 2,342 | 7,489 | 2,607 |
Foreign income taxes | -19,777 | 9,938 | -3,617 |
Nondeductible items | -613 | -679 | -550 |
Tax contingencies | -2,488 | 522 | -2,360 |
Other, net | 2,396 | -3,386 | -2,096 |
Income tax benefit (expense) | ($14,809) | $107,089 | ($43,296) |
Reconciliation of Income Tax Rates Percentages [Abstract] | ' | ' | ' |
Income tax benefit at statutory rates | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal tax effect | 25.00% | 3.00% | -2.00% |
Foreign income taxes | -208.00% | 3.00% | 3.00% |
Nondeductible items | -7.00% | 0.00% | 1.00% |
Tax contingencies | -26.00% | 0.00% | 2.00% |
Other, net | 25.00% | -1.00% | 2.00% |
Income tax benefit (expense) | -156.00% | 40.00% | 41.00% |
Income_Taxes_Schedule_Of_Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Balance at beginning of period | $45,839 | $40,078 |
Increases due to tax positions taken in the current year | 9,454 | 8,349 |
Increases due to tax positions taken in previous years | 6,124 | 8,051 |
Decreases due to tax positions taken in previous years | -638 | -4,368 |
Decreases due to settlements with tax authorities | -678 | -6,271 |
Decreases due to lapse of statute of limitations | -7,482 | 0 |
Balance at end of period | $52,619 | $45,839 |
Shareholders_Equity_Narrative_
Shareholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | ' | ' | ' |
Total instrinsic value of the options exercised | $5,000,000 | $7,900,000 | $1,500,000 |
Tax benefit related to the share-based compensation expense | 3,000,000 | 4,100,000 | 4,300,000 |
Unrecognized compensation cost, net of estimated forfeitures, related to unvested share-based compensation arrangements that will vest based on service conditions | 17,500,000 | ' | ' |
Stock options and restricted shares outstanding | 8,800,000 | 9,500,000 | 6,000,000 |
Share-based compensation | 7,725,000 | 10,589,000 | 10,913,000 |
CCOH [Member] | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | ' | ' | ' |
Weighted average grant date fair value of options granted | $4.10 | $4.43 | $8.30 |
Cash received for options exercised | 4,200,000 | 6,400,000 | 1,400,000 |
Fair value of options vested | 7,100,000 | 11,500,000 | 8,200,000 |
Total instrinsic value of the options exercised | $8,581,000 | ' | ' |
Put option purchase price per share | $3.89 | ' | ' |
Class A Common Shares Issued [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Share-based Payments | ' | ' | ' |
Common stock shares issued | 44,117,843 | 42,357,863 | ' |
Class B Common Shares Issued [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Share-based Payments | ' | ' | ' |
Common stock shares issued | 315,000,000 | 315,000,000 | ' |
Shareholders_Deficit_And_Compr
Shareholders' Deficit And Comprehensive Loss (Schedule Of Changes In Equity) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Balances at January 1, | ' | ' | ' | $446,089 | ' | ' | ' | $2,740,227 | $446,089 | $2,740,227 | ' |
Net income (loss) | 19,103 | 11,990 | 18,730 | -74,149 | -139,494 | 24,825 | 652 | -45,193 | -24,326 | -159,210 | 63,219 |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | -200,010 | -2,170,396 | ' |
Dividends and other payments to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -68,441 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -9,654 | 35,485 | ' |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,187 | -2,573 | -4,834 |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,732 | 1,135 | -1,361 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 9,963 | -624 | ' |
Reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | -1,432 | 2,045 | 5,148 |
Balances at December 31, | 160,108 | ' | ' | ' | 446,089 | ' | ' | ' | 160,108 | 446,089 | 2,740,227 |
The Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances at January 1, | ' | ' | ' | 198,155 | ' | ' | ' | 2,508,697 | 198,155 | 2,508,697 | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -48,460 | -183,112 | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | -200,010 | -2,170,396 | ' |
Dividends and other payments to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -7,460 | 33,782 | ' |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,187 | -2,573 | ' |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,732 | 1,135 | ' |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 9,350 | 8,577 | ' |
Reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | -1,432 | 2,045 | ' |
Balances at December 31, | -41,938 | ' | ' | ' | 198,155 | ' | ' | ' | -41,938 | 198,155 | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balances at January 1, | ' | ' | ' | 247,934 | ' | ' | ' | 231,530 | 247,934 | 231,530 | ' |
Net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 24,134 | 23,902 | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Dividends and other payments to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -68,441 | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -2,194 | 1,703 | ' |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | 613 | -9,201 | ' |
Reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' |
Balances at December 31, | $202,046 | ' | ' | ' | $247,934 | ' | ' | ' | $202,046 | $247,934 | ' |
Shareholders_Equity_Schedule_O
Shareholders' Equity (Schedule Of Assumptions Used In Options Valuation) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Minimum [Member] | ' | ' | ' |
Shareholders' Equity [Abstract] | ' | ' | ' |
Expected volatility, minimum | 55.00% | 54.00% | 57.00% |
Expected life in years | '6 years 4 months | '6 years 4 months | '6 years 4 months |
Risk-free interest rate, minimum | 1.05% | 0.92% | 1.26% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Maximum [Member] | ' | ' | ' |
Shareholders' Equity [Abstract] | ' | ' | ' |
Expected volatility, maximum | 56.00% | 56.00% | 57.00% |
Expected life in years | '6 years 4 months | '6 years 4 months | '6 years 4 months |
Risk-free interest rate, maximum | 2.19% | 1.48% | 2.75% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Shareholders_Equity_Schedule_O1
Shareholders' Equity (Schedule Of Stock Options Outstanding) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | CCOH [Member] | Restricted Stock [Member] | Restricted Stock [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award Line Items | ' | ' | ' | ' | ' | ' |
Outstanding, January 1, 2013 | ' | ' | ' | 8,381 | 1,892 | 1,085 |
Granted | ' | ' | ' | 517 | ' | ' |
Exercised | ' | ' | ' | -1,088 | ' | ' |
Forfeited | ' | ' | ' | -226 | ' | ' |
Expired | ' | ' | ' | -675 | ' | ' |
Outstanding, December 31, 2013 | ' | ' | ' | 6,909 | 1,892 | 1,085 |
Exercisable | ' | ' | ' | 4,264 | ' | ' |
Expected to Vest | ' | ' | ' | 2,514 | ' | ' |
Outstanding, January 1, 2013 | ' | ' | ' | $9.22 | ' | ' |
Granted | ' | ' | ' | $7.78 | ' | ' |
Exercised | ' | ' | ' | $3.89 | ' | ' |
Forfeited | ' | ' | ' | $7.11 | ' | ' |
Expired | ' | ' | ' | $13.58 | ' | ' |
Outstanding, December 31, 2013 | ' | ' | ' | $9.60 | ' | ' |
Exercisable | ' | ' | ' | $10.90 | ' | ' |
Expected to Vest | ' | ' | ' | $7.49 | ' | ' |
Outstanding, December 31, 2013 | ' | ' | ' | '5 years 10 months 24 days | ' | ' |
Exercisable | ' | ' | ' | '4 years 9 months 18 days | ' | ' |
Expected to vest | ' | ' | ' | '7 years 10 months 24 days | ' | ' |
Outstanding, December 31, 2013 | ' | ' | ' | $15,545 | ' | ' |
Exercisable | 5,000 | 7,900 | 1,500 | 8,581 | ' | ' |
Expected to Vest | ' | ' | ' | $6,660 | ' | ' |
Shareholders_Equity_Schedule_O2
Shareholders' Equity (Schedule Of Restricted Stock Awards) (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
CCOH [Member] | ' |
Share-Based Compensation Arrangement by Share-Based Payment Award Line Items | ' |
Outstanding, January 1, 2013 | 8,381 |
Granted | 517 |
Vested (restriction lapsed) | -1,479 |
Forfeited | -226 |
Outstanding, December 31, 2013 | 6,909 |
Granted | $4.10 |
Vested (restriction lapesd) | $4.80 |
Forfeited | $5.21 |
Restricted Stock [Member] | ' |
Share-Based Compensation Arrangement by Share-Based Payment Award Line Items | ' |
Outstanding, January 1, 2013 | 1,085 |
Granted | 1,105 |
Vested (restriction lapsed) | -15 |
Forfeited | -283 |
Outstanding, December 31, 2013 | 1,892 |
Outstanding, January 1, 2013 | $6.26 |
Granted | $7.51 |
Vested (restriction lapesd) | $6.61 |
Forfeited | $7.15 |
Outstanding, December 31, 2013 | $6.83 |
Shareholders_Equity_Schedule_O3
Shareholders' Equity (Schedule Of Share Based Compensation Cost) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share Based Compensation [Abstract] | ' | ' | ' |
Total share based compensation expense | $7,725 | $10,589 | $10,913 |
Shareholders_Equity_Schedule_O4
Shareholders' Equity (Schedule Of Earnings (Loss) Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to the Company - common share | $12,692 | $4,218 | $8,908 | ($74,278) | ($148,410) | $17,284 | ($8,116) | ($43,870) | ($48,460) | ($183,112) | $42,946 |
Less: Participating securities dividends | ' | ' | ' | ' | ' | ' | ' | ' | 2,566 | 8,456 | 2,972 |
Net income (loss) attributable to the Company per common share - basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ($51,026) | ($191,568) | $39,974 |
Denominator: [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding - Basic | ' | ' | ' | ' | ' | ' | ' | ' | 357,662 | 356,915 | 355,907 |
Effect of dilutive securities: [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options and restricted stock awards | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 621 |
Weighted average common shares outstanding - diluted | ' | ' | ' | ' | ' | ' | ' | ' | 357,662 | 356,915 | 356,528 |
Net income (loss) attributable to the Company per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.04 | $0.01 | $0.02 | ($0.22) | ($0.42) | $0.05 | ($0.02) | ($0.14) | ($0.14) | ($0.54) | $0.11 |
Diluted | $0.04 | $0.01 | $0.02 | ($0.22) | ($0.42) | $0.05 | ($0.02) | ($0.14) | ($0.14) | ($0.54) | $0.11 |
Recovered_Sheet2
Employee Stock And Savings Plan (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred Compensation Arrangement With Individual Postretirement Benefits [Line Items] | ' | ' | ' |
Company match | 50.00% | ' | ' |
Maximum company match | 5.00% | ' | ' |
Americas [Member] | ' | ' | ' |
Deferred Compensation Arrangement With Individual Postretirement Benefits [Line Items] | ' | ' | ' |
Contribution | $2.40 | $2.40 | $2.30 |
International [Member] | ' | ' | ' |
Deferred Compensation Arrangement With Individual Postretirement Benefits [Line Items] | ' | ' | ' |
Contribution | $10.60 | $13.80 | $12.10 |
Deferred annual salary [Member] | ' | ' | ' |
Deferred Compensation Arrangement With Individual Postretirement Benefits [Line Items] | ' | ' | ' |
Company match | 50.00% | ' | ' |
Deferred bonus [Member] | ' | ' | ' |
Deferred Compensation Arrangement With Individual Postretirement Benefits [Line Items] | ' | ' | ' |
Company match | 80.00% | ' | ' |
Other_Information_Schedule_Of_
Other Information (Schedule Of Other Income (Expense)) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign exchange gain (loss) | ' | ' | ' | ' | ' | ' | ' | ' | $1,674 | ($869) | $796 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | -658 | 505 | -1,445 |
Total other income (expense), net | $788 | $1,445 | ($310) | ($907) | ($64) | $1,825 | ($1,631) | ($494) | $1,016 | ($364) | ($649) |
Other_Information_Schedule_Of_1
Other Information (Schedule Of Other Current Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Information [Abstract] | ' | ' |
Deferred loan costs | $7,982 | $8,000 |
Inventory | 24,857 | 20,094 |
Deferred tax assets | 16,303 | 458 |
Deposits | 3,862 | 4,108 |
Other receivables | 5,388 | 4,264 |
Other | 9,941 | 4,188 |
Total other current assets | $68,333 | $41,112 |
Other_Information_Schedule_Of_2
Other Information (Schedule Of Other Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Information [Abstract] | ' | ' |
Prepaid expenses | $60,667 | $70,586 |
Deferred loan costs | 50,038 | 57,696 |
Deposits | 24,308 | 22,401 |
Investments | 17,420 | 16,886 |
Other | 2,482 | 1,520 |
Total other assets | $154,915 | $169,089 |
Recovered_Sheet3
Other Information (Schedule OF Other Current Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Information [Abstract] | ' | ' |
Redeemable noncontrolling interest | $0 | $60,950 |
Total other current liabilities | $0 | $60,950 |
Other_Information_Schedule_Of_3
Other Information (Schedule Of Other Long-Term Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Information [Abstract] | ' | ' |
Unrecognized tax benefits | $42,070 | $45,769 |
Asset retirement obligation | 54,832 | 52,571 |
Employee related liabilities | 31,617 | 24,265 |
Deferred rent | 92,512 | 86,611 |
Other | 29,136 | 30,616 |
Total other long-term liabilities | $250,167 | $239,832 |
Other_Information_Schedule_Of_4
Other Information (Schedule Of Accumulated Other Comprehensive Loss) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Other Information [Abstract] | ' | ' |
Cumulative currency translation adjustments and other | ($214,801) | ($212,641) |
Cumulative unrealized gain on investmetns | 1,229 | 42 |
Total accumulated other comprehensive loss | ($213,572) | ($212,599) |
Segment_Data_Narrative_Details
Segment Data (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Geographic Areas Revenues From External Customers [Abstract] | ' | ' | ' |
Revenues derived from foreign operations | $1,700,000,000 | $1,700,000,000 | $1,800,000,000 |
Revenues derived from U.S. operations | 1,200,000,000 | 1,200,000,000 | 1,200,000,000 |
Geographic Areas Long Lived Assets [Abstract] | ' | ' | ' |
Identifiable long-lived assets derived from foreign operations | 759,300,000 | 803,700,000 | 796,300,000 |
Identifiable long-lived assets derived from U.S. operations | $1,300,000,000 | $1,400,000,000 | $1,500,000,000 |
Segment_Data_Schedule_Of_Opera
Segment Data (Schedule Of Operating Segment Results) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $806,096 | $723,013 | $766,871 | $650,210 | $803,194 | $731,141 | $761,326 | $651,283 | $2,946,190 | $2,946,944 | $3,003,874 |
Direct operating expenses | 412,885 | 396,094 | 399,558 | 386,191 | 415,821 | 390,639 | 405,314 | 391,718 | 1,594,728 | 1,603,492 | 1,630,875 |
Selling, general and administrative expenses | 139,554 | 131,437 | 133,020 | 139,561 | 153,985 | 136,582 | 131,752 | 152,343 | 543,572 | 574,662 | 538,032 |
Depreciation and amortization | 106,933 | 98,344 | 97,566 | 100,327 | 106,907 | 100,352 | 99,668 | 92,337 | 403,170 | 399,264 | 432,035 |
Impairment charges | 13,150 | 0 | 0 | 0 | 37,651 | 0 | 0 | 0 | 13,150 | 37,651 | 7,614 |
Corporate expenses | 32,964 | 29,719 | 33,892 | 27,824 | 29,609 | 28,820 | 29,952 | 27,451 | 124,399 | 115,832 | 100,971 |
Other operating income (expense), net | 10,575 | 6,604 | 3,697 | 2,103 | 1,797 | 42,397 | 2,746 | 4,003 | 22,979 | 50,943 | 8,591 |
Operating income (loss) | 111,185 | 74,023 | 106,532 | -1,590 | 61,018 | 117,145 | 97,386 | -8,563 | 290,150 | 266,986 | 302,938 |
Assets | 6,759,392 | ' | ' | ' | 7,105,782 | ' | ' | ' | 6,759,392 | 7,105,782 | 7,088,185 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 206,187 | 275,577 | 291,050 |
Share-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 7,725 | 10,589 | 10,913 |
Americas [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,290,452 | 1,279,257 | 1,252,725 |
Direct operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 566,669 | 582,340 | 566,313 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 220,732 | 211,245 | 198,989 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 196,597 | 192,023 | 211,009 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 306,454 | 293,649 | 276,414 |
Assets | 3,693,308 | ' | ' | ' | 3,835,235 | ' | ' | ' | 3,693,308 | 3,835,235 | 3,886,098 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 88,991 | 117,647 | 122,505 |
International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,655,738 | 1,667,687 | 1,751,149 |
Direct operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,028,059 | 1,021,152 | 1,064,562 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 322,840 | 363,417 | 339,043 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 203,927 | 205,258 | 219,955 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 100,912 | 77,860 | 127,589 |
Assets | 2,029,687 | ' | ' | ' | 2,256,309 | ' | ' | ' | 2,029,687 | 2,256,309 | 2,166,173 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 108,548 | 150,129 | 166,044 |
All Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 2,646 | 1,983 | 1,071 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 13,150 | 37,651 | 7,614 |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | 124,399 | 115,832 | 100,971 |
Other operating income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | 22,979 | 50,943 | 8,591 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -117,216 | -104,523 | -101,065 |
Assets | 1,036,397 | ' | ' | ' | 1,014,238 | ' | ' | ' | 1,036,397 | 1,014,238 | 1,035,914 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 8,648 | 7,801 | 4,194 |
Share-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | $7,725 | $10,589 | $10,913 |
Quarterly_Results_Of_Operation1
Quarterly Results Of Operations (Schedule Of Quarterly Results Of Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net income (loss) per common share: [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.04 | $0.01 | $0.02 | ($0.22) | ($0.42) | $0.05 | ($0.02) | ($0.14) | ($0.14) | ($0.54) | $0.11 |
Diluted | $0.04 | $0.01 | $0.02 | ($0.22) | ($0.42) | $0.05 | ($0.02) | ($0.14) | ($0.14) | ($0.54) | $0.11 |
Quarterly Results of Operations (Unaudited) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $806,096 | $723,013 | $766,871 | $650,210 | $803,194 | $731,141 | $761,326 | $651,283 | $2,946,190 | $2,946,944 | $3,003,874 |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct operating expenses | 412,885 | 396,094 | 399,558 | 386,191 | 415,821 | 390,639 | 405,314 | 391,718 | 1,594,728 | 1,603,492 | 1,630,875 |
Selling, general and administrative expenses | 139,554 | 131,437 | 133,020 | 139,561 | 153,985 | 136,582 | 131,752 | 152,343 | 543,572 | 574,662 | 538,032 |
Corporate expenses | 32,964 | 29,719 | 33,892 | 27,824 | 29,609 | 28,820 | 29,952 | 27,451 | 124,399 | 115,832 | 100,971 |
Depreciation and amortization | 106,933 | 98,344 | 97,566 | 100,327 | 106,907 | 100,352 | 99,668 | 92,337 | 403,170 | 399,264 | 432,035 |
Impairment charges | 13,150 | 0 | 0 | 0 | 37,651 | 0 | 0 | 0 | 13,150 | 37,651 | 7,614 |
Other operating income (expense), net | 10,575 | 6,604 | 3,697 | 2,103 | 1,797 | 42,397 | 2,746 | 4,003 | 22,979 | 50,943 | 8,591 |
Operating income (loss) | 111,185 | 74,023 | 106,532 | -1,590 | 61,018 | 117,145 | 97,386 | -8,563 | 290,150 | 266,986 | 302,938 |
Interest expense | 88,658 | 87,969 | 88,063 | 88,093 | 100,480 | 102,612 | 102,953 | 67,831 | 352,783 | 373,876 | 242,435 |
Interest income on Due from Clear Channel Communications | 14,854 | 14,940 | 12,496 | 11,920 | 14,779 | 16,913 | 16,089 | 15,980 | 54,210 | 63,761 | 45,459 |
Loss on marketable securities | 0 | -18 | 0 | 0 | -2,578 | 0 | 0 | 0 | -18 | -2,578 | -4,827 |
Equity in earnings (loss) of nonconsolidated affiliates | -1,131 | -645 | 169 | -485 | 813 | -234 | -157 | 421 | -2,092 | 843 | 6,029 |
Loss on extinguishment of debt | 0 | 0 | 0 | 0 | -221,071 | 0 | 0 | 0 | 0 | -221,071 | 0 |
Other income (expense), net | 788 | 1,445 | -310 | -907 | -64 | 1,825 | -1,631 | -494 | 1,016 | -364 | -649 |
Income (loss) before income taxes | 37,038 | 1,776 | 30,824 | -79,155 | -247,583 | 33,037 | 8,734 | -60,487 | -9,517 | -266,299 | 106,515 |
Income tax benefit (expense) | -17,935 | 10,214 | -12,094 | 5,006 | 108,089 | -8,212 | -8,082 | 15,294 | -14,809 | 107,089 | -43,296 |
Consolidated net income (loss) | 19,103 | 11,990 | 18,730 | -74,149 | -139,494 | 24,825 | 652 | -45,193 | -24,326 | -159,210 | 63,219 |
Less amount attributable to noncontrolling interest | 6,411 | 7,772 | 9,822 | 129 | 8,916 | 7,541 | 8,768 | -1,323 | 24,134 | 23,902 | 20,273 |
Net income (loss) attributable to the Company - common share | $12,692 | $4,218 | $8,908 | ($74,278) | ($148,410) | $17,284 | ($8,116) | ($43,870) | ($48,460) | ($183,112) | $42,946 |
Guarantor_Subsidiaries_Schedul
Guarantor Subsidiaries (Schedule Of Guarantor Obligations, Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | $314,545 | $561,979 | $542,655 | $624,018 |
Accounts receivable, net of allowance | 712,135 | 754,658 | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Prepaid expenses | 143,415 | 151,597 | ' | ' |
Other current assets | 68,333 | 41,112 | ' | ' |
Total Current Assets | 1,238,428 | 1,509,346 | ' | ' |
Structures, net | 1,765,510 | 1,890,693 | ' | ' |
Other property, plant and equipment, net | 315,588 | 317,051 | ' | ' |
Indefinite-lived intangibles | 1,067,783 | 1,070,720 | ' | ' |
Other intangibles, net | 487,926 | 557,478 | ' | ' |
Goodwill | 850,134 | 862,248 | 857,193 | ' |
Intercompany notes receivable | 0 | 0 | ' | ' |
Due from Clear Channel Communications | 879,108 | 729,157 | ' | ' |
Other assets | 154,915 | 169,089 | ' | ' |
Total Assets | 6,759,392 | 7,105,782 | 7,088,185 | ' |
Accounts payable | 85,882 | 95,515 | ' | ' |
Accrued expenses | 563,766 | 538,499 | ' | ' |
Intercompany payable | 0 | 0 | ' | ' |
Deferred income | 107,943 | 107,034 | ' | ' |
Other current liabilities | 0 | 60,950 | ' | ' |
Current portion of long-term debt | 15,999 | 9,407 | ' | ' |
Total Current Liabilities | 773,590 | 811,405 | ' | ' |
Long-term debt | 4,919,377 | 4,935,388 | ' | ' |
Deferred tax liability | 656,150 | 673,068 | ' | ' |
Other long-term liabilities | 250,167 | 239,832 | ' | ' |
Intercompany notes payable | 0 | 0 | ' | ' |
Total shareholders' equity | 160,108 | 446,089 | 2,740,227 | 2,708,055 |
Total Liabilities and Shareholders' Equity | 6,759,392 | 7,105,782 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 83,185 | 207,411 | 325,696 | 426,742 |
Accounts receivable, net of allowance | ' | 0 | ' | ' |
Intercompany receivables | ' | 0 | ' | ' |
Prepaid expenses | 1,390 | 2,109 | ' | ' |
Other current assets | 3 | 9 | ' | ' |
Total Current Assets | 84,578 | 209,529 | ' | ' |
Structures, net | ' | 0 | ' | ' |
Other property, plant and equipment, net | ' | 0 | ' | ' |
Indefinite-lived intangibles | ' | 0 | ' | ' |
Other intangibles, net | ' | 0 | ' | ' |
Goodwill | ' | 0 | ' | ' |
Intercompany notes receivable | 182,026 | 182,026 | ' | ' |
Due from Clear Channel Communications | 879,108 | 729,157 | ' | ' |
Other assets | 408,083 | 457,872 | ' | ' |
Total Assets | 1,553,795 | 1,578,584 | ' | ' |
Accounts payable | ' | 0 | ' | ' |
Accrued expenses | 725 | 394 | ' | ' |
Intercompany payable | 1,586,370 | 1,373,828 | ' | ' |
Deferred income | ' | 0 | ' | ' |
Other current liabilities | ' | 0 | ' | ' |
Current portion of long-term debt | ' | 0 | ' | ' |
Total Current Liabilities | 1,587,095 | 1,374,222 | ' | ' |
Long-term debt | ' | 0 | ' | ' |
Deferred tax liability | 175 | 226 | ' | ' |
Other long-term liabilities | ' | 0 | ' | ' |
Intercompany notes payable | ' | 6,042 | ' | ' |
Total shareholders' equity | -33,475 | 198,094 | ' | ' |
Total Liabilities and Shareholders' Equity | 1,553,795 | 1,578,584 | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Accounts receivable, net of allowance | ' | 0 | ' | ' |
Intercompany receivables | 186,659 | 0 | ' | ' |
Prepaid expenses | ' | 0 | ' | ' |
Other current assets | 6,850 | 6,850 | ' | ' |
Total Current Assets | 193,509 | 6,850 | ' | ' |
Structures, net | ' | 0 | ' | ' |
Other property, plant and equipment, net | ' | 0 | ' | ' |
Indefinite-lived intangibles | ' | 0 | ' | ' |
Other intangibles, net | ' | 0 | ' | ' |
Goodwill | ' | 0 | ' | ' |
Intercompany notes receivable | 5,002,517 | 5,129,823 | ' | ' |
Due from Clear Channel Communications | ' | 0 | ' | ' |
Other assets | 871,363 | 883,895 | ' | ' |
Total Assets | 6,067,389 | 6,020,568 | ' | ' |
Accounts payable | ' | 0 | ' | ' |
Accrued expenses | 1,342 | -73,766 | ' | ' |
Intercompany payable | ' | 15,730 | ' | ' |
Deferred income | ' | 0 | ' | ' |
Other current liabilities | ' | 0 | ' | ' |
Current portion of long-term debt | ' | 0 | ' | ' |
Total Current Liabilities | 1,342 | -58,036 | ' | ' |
Long-term debt | 4,918,243 | 4,917,702 | ' | ' |
Deferred tax liability | 85 | 85 | ' | ' |
Other long-term liabilities | ' | 0 | ' | ' |
Intercompany notes payable | ' | 0 | ' | ' |
Total shareholders' equity | 1,147,719 | 1,160,817 | ' | ' |
Total Liabilities and Shareholders' Equity | 6,067,389 | 6,020,568 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 5,885 | 0 | ' | ' |
Accounts receivable, net of allowance | 208,029 | 258,727 | ' | ' |
Intercompany receivables | 1,592,228 | 1,407,392 | ' | ' |
Prepaid expenses | 71,730 | 70,822 | ' | ' |
Other current assets | 20,333 | 4,231 | ' | ' |
Total Current Assets | 1,898,205 | 1,741,172 | ' | ' |
Structures, net | 1,142,094 | 1,231,465 | ' | ' |
Other property, plant and equipment, net | 178,149 | 170,741 | ' | ' |
Indefinite-lived intangibles | 1,055,728 | 1,055,168 | ' | ' |
Other intangibles, net | 344,178 | 359,460 | ' | ' |
Goodwill | 571,932 | 571,933 | ' | ' |
Intercompany notes receivable | ' | 0 | ' | ' |
Due from Clear Channel Communications | ' | 0 | ' | ' |
Other assets | 1,373,504 | 1,389,289 | ' | ' |
Total Assets | 6,563,790 | 6,519,228 | ' | ' |
Accounts payable | 11,742 | 13,891 | ' | ' |
Accrued expenses | 105,909 | 173,024 | ' | ' |
Intercompany payable | 186,659 | 0 | ' | ' |
Deferred income | 42,591 | 50,153 | ' | ' |
Other current liabilities | ' | 0 | ' | ' |
Current portion of long-term debt | 47 | 41 | ' | ' |
Total Current Liabilities | 346,948 | 237,109 | ' | ' |
Long-term debt | 1,134 | 1,182 | ' | ' |
Deferred tax liability | 638,141 | 644,521 | ' | ' |
Other long-term liabilities | 143,925 | 142,061 | ' | ' |
Intercompany notes payable | 5,025,497 | 5,036,422 | ' | ' |
Total shareholders' equity | 408,145 | 457,933 | ' | ' |
Total Liabilities and Shareholders' Equity | 6,563,790 | 6,519,228 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 225,475 | 359,361 | 249,448 | 203,789 |
Accounts receivable, net of allowance | 504,106 | 495,931 | ' | ' |
Intercompany receivables | ' | 0 | ' | ' |
Prepaid expenses | 70,295 | 78,666 | ' | ' |
Other current assets | 41,147 | 30,022 | ' | ' |
Total Current Assets | 841,023 | 963,980 | ' | ' |
Structures, net | 623,416 | 659,228 | ' | ' |
Other property, plant and equipment, net | 137,439 | 146,310 | ' | ' |
Indefinite-lived intangibles | 12,055 | 15,552 | ' | ' |
Other intangibles, net | 143,748 | 198,018 | ' | ' |
Goodwill | 278,202 | 290,315 | ' | ' |
Intercompany notes receivable | ' | 0 | ' | ' |
Due from Clear Channel Communications | ' | 0 | ' | ' |
Other assets | 61,626 | 62,271 | ' | ' |
Total Assets | 2,097,509 | 2,335,674 | ' | ' |
Accounts payable | 74,140 | 86,417 | ' | ' |
Accrued expenses | 455,790 | 438,847 | ' | ' |
Intercompany payable | 5,858 | 17,834 | ' | ' |
Deferred income | 65,352 | 56,881 | ' | ' |
Other current liabilities | ' | 60,950 | ' | ' |
Current portion of long-term debt | 15,952 | 9,366 | ' | ' |
Total Current Liabilities | 617,092 | 670,295 | ' | ' |
Long-term debt | ' | 16,504 | ' | ' |
Deferred tax liability | 17,749 | 28,236 | ' | ' |
Other long-term liabilities | 106,242 | 97,771 | ' | ' |
Intercompany notes payable | 159,046 | 269,385 | ' | ' |
Total shareholders' equity | 1,197,380 | 1,253,483 | ' | ' |
Total Liabilities and Shareholders' Equity | 2,097,509 | 2,335,674 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Cash and cash equivalents | ' | -4,793 | -32,489 | -6,513 |
Accounts receivable, net of allowance | ' | 0 | ' | ' |
Intercompany receivables | -1,778,887 | -1,407,392 | ' | ' |
Prepaid expenses | ' | 0 | ' | ' |
Other current assets | ' | 0 | ' | ' |
Total Current Assets | -1,778,887 | -1,412,185 | ' | ' |
Structures, net | ' | 0 | ' | ' |
Other property, plant and equipment, net | ' | 0 | ' | ' |
Indefinite-lived intangibles | ' | 0 | ' | ' |
Other intangibles, net | ' | 0 | ' | ' |
Goodwill | ' | 0 | ' | ' |
Intercompany notes receivable | -5,184,543 | -5,311,849 | ' | ' |
Due from Clear Channel Communications | ' | 0 | ' | ' |
Other assets | -2,559,661 | -2,624,238 | ' | ' |
Total Assets | -9,523,091 | -9,348,272 | ' | ' |
Accounts payable | ' | -4,793 | ' | ' |
Accrued expenses | ' | 0 | ' | ' |
Intercompany payable | -1,778,887 | -1,407,392 | ' | ' |
Deferred income | ' | 0 | ' | ' |
Other current liabilities | ' | 0 | ' | ' |
Current portion of long-term debt | ' | 0 | ' | ' |
Total Current Liabilities | -1,778,887 | -1,412,185 | ' | ' |
Long-term debt | ' | 0 | ' | ' |
Deferred tax liability | ' | 0 | ' | ' |
Other long-term liabilities | ' | 0 | ' | ' |
Intercompany notes payable | -5,184,543 | -5,311,849 | ' | ' |
Total shareholders' equity | -2,559,661 | -2,624,238 | ' | ' |
Total Liabilities and Shareholders' Equity | ($9,523,091) | ($9,348,272) | ' | ' |
Guarantor_Subsidiaries_Schedul1
Guarantor Subsidiaries (Schedule Of Guarantor Obligations, Income Statement) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue | $806,096 | $723,013 | $766,871 | $650,210 | $803,194 | $731,141 | $761,326 | $651,283 | $2,946,190 | $2,946,944 | $3,003,874 |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct operating expenses | 412,885 | 396,094 | 399,558 | 386,191 | 415,821 | 390,639 | 405,314 | 391,718 | 1,594,728 | 1,603,492 | 1,630,875 |
Selling, general and administrative expenses | 139,554 | 131,437 | 133,020 | 139,561 | 153,985 | 136,582 | 131,752 | 152,343 | 543,572 | 574,662 | 538,032 |
Corporate expenses | 32,964 | 29,719 | 33,892 | 27,824 | 29,609 | 28,820 | 29,952 | 27,451 | 124,399 | 115,832 | 100,971 |
Depreciation and amortization | 106,933 | 98,344 | 97,566 | 100,327 | 106,907 | 100,352 | 99,668 | 92,337 | 403,170 | 399,264 | 432,035 |
Impairment charges | 13,150 | 0 | 0 | 0 | 37,651 | 0 | 0 | 0 | 13,150 | 37,651 | 7,614 |
Other operating income (expense), net | 10,575 | 6,604 | 3,697 | 2,103 | 1,797 | 42,397 | 2,746 | 4,003 | 22,979 | 50,943 | 8,591 |
Operating income (loss) | 111,185 | 74,023 | 106,532 | -1,590 | 61,018 | 117,145 | 97,386 | -8,563 | 290,150 | 266,986 | 302,938 |
Interest (income) expense, net | 88,658 | 87,969 | 88,063 | 88,093 | 100,480 | 102,612 | 102,953 | 67,831 | 352,783 | 373,876 | 242,435 |
Interest income on Due from Clear Channel Communications | 14,854 | 14,940 | 12,496 | 11,920 | 14,779 | 16,913 | 16,089 | 15,980 | 54,210 | 63,761 | 45,459 |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Loss on marketable securities | 0 | -18 | 0 | 0 | -2,578 | 0 | 0 | 0 | -18 | -2,578 | -4,827 |
Equity in earnings (loss) of nonconsolidated affiliates | -1,131 | -645 | 169 | -485 | 813 | -234 | -157 | 421 | -2,092 | 843 | 6,029 |
Loss on extinguishment of debt | 0 | 0 | 0 | 0 | -221,071 | 0 | 0 | 0 | 0 | -221,071 | 0 |
Other income (expense), net | 788 | 1,445 | -310 | -907 | -64 | 1,825 | -1,631 | -494 | 1,016 | -364 | -649 |
Income (loss) before income taxes | 37,038 | 1,776 | 30,824 | -79,155 | -247,583 | 33,037 | 8,734 | -60,487 | -9,517 | -266,299 | 106,515 |
Income tax benefit (expense) | -17,935 | 10,214 | -12,094 | 5,006 | 108,089 | -8,212 | -8,082 | 15,294 | -14,809 | 107,089 | -43,296 |
Consolidated net income (loss) | 19,103 | 11,990 | 18,730 | -74,149 | -139,494 | 24,825 | 652 | -45,193 | -24,326 | -159,210 | 63,219 |
Less amount attributable to noncontrolling interest | 6,411 | 7,772 | 9,822 | 129 | 8,916 | 7,541 | 8,768 | -1,323 | 24,134 | 23,902 | 20,273 |
Net income (loss) attributable to the Company | 12,692 | 4,218 | 8,908 | -74,278 | -148,410 | 17,284 | -8,116 | -43,870 | -48,460 | -183,112 | 42,946 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -9,654 | 35,485 | -29,801 |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,187 | -2,573 | -4,834 |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,732 | 1,135 | -1,361 |
Reclassification adjustment for realized gain (loss) on securities included in net loss | ' | ' | ' | ' | ' | ' | ' | ' | -1,432 | 2,045 | 5,148 |
Equity in subsidiary comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -51,627 | -147,020 | 12,098 |
Less amount attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -2,194 | 1,703 | 8,918 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -49,433 | -148,723 | 3,180 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | 13,057 | 12,794 | 11,913 |
Other operating income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | -494 | -487 | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -13,551 | -13,281 | -11,913 |
Interest (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -143 | -381 | 35 |
Interest income on Due from Clear Channel Communications | ' | ' | ' | ' | ' | ' | ' | ' | 54,210 | 63,761 | 45,459 |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | 15,112 | 14,421 | 14,008 |
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 54,436 | 64,225 | 45,951 |
Equity in earnings (loss) of nonconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -50,279 | -183,774 | 41,964 |
Other income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | 1,432 | ' | ' |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -47,369 | -182,717 | 43,532 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -1,091 | -395 | -586 |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -48,460 | -183,112 | 42,946 |
Net income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -48,460 | -183,112 | 42,946 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -31 | 1,463 | ' |
Reclassification adjustment for realized gain (loss) on securities included in net loss | ' | ' | ' | ' | ' | ' | ' | ' | -1,432 | ' | ' |
Equity in subsidiary comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 490 | 32,926 | -39,766 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -49,433 | -148,723 | 3,180 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -49,433 | -148,723 | 3,180 |
Subsidiary Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' |
Interest (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 353,189 | 366,746 | 231,251 |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | 341,612 | 350,870 | 231,606 |
Equity in earnings (loss) of nonconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -12,274 | 46,643 | 33,104 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -182,062 | ' |
Other income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -301 | -374 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -23,854 | -151,596 | 33,085 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 4,184 | 69,697 | -1,004 |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -19,670 | -81,899 | 32,081 |
Net income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -19,670 | -81,899 | 32,081 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -20 | 4 | ' |
Equity in subsidiary comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 9,159 | 9,101 | -26,382 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -10,531 | -72,794 | 5,699 |
Less amount attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -10,531 | -72,794 | 5,700 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,197,261 | 1,187,641 | 1,161,584 |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 506,200 | 521,426 | 503,570 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 205,240 | 196,254 | 184,428 |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | 64,987 | 64,257 | 54,980 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 194,793 | 189,525 | 207,416 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,651 | 6,468 |
Other operating income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | 28,129 | 12,086 | 9,326 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 254,170 | 190,614 | 214,048 |
Interest (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 993 | 7,729 | 6,688 |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | 54,857 | 63,761 | 45,459 |
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 356,724 | 364,730 | 245,537 |
Equity in earnings (loss) of nonconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -12,216 | -75,629 | 39,556 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -39,009 | ' |
Other income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | -9,760 | -3,146 | 257 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -70,666 | -235,868 | 47,095 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 20,387 | 52,094 | -5,131 |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50,279 | -183,774 | 41,964 |
Net income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -50,279 | -183,774 | 41,964 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -7,214 | 1,994 | 1,048 |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,834 |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,361 |
Reclassification adjustment for realized gain (loss) on securities included in net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | -534 | 5,148 |
Equity in subsidiary comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 7,704 | 31,464 | -39,766 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -49,789 | -150,850 | 2,199 |
Less amount attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 1 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -49,789 | -150,848 | 2,198 |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,748,929 | 1,759,303 | 1,842,290 |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,088,528 | 1,082,066 | 1,127,305 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 338,332 | 378,408 | 353,604 |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | 46,352 | 38,781 | 34,078 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 208,377 | 209,739 | 224,619 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 13,150 | ' | 1,146 |
Other operating income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | -4,656 | 39,344 | -735 |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 49,534 | 89,653 | 100,803 |
Interest (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,256 | -218 | 4,461 |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | ' | 539 | 981 |
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 421 | 636 | 566 |
Loss on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | -18 | -2,578 | -4,827 |
Equity in earnings (loss) of nonconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -3,588 | -398 | 5,704 |
Other income (expense), net | ' | ' | ' | ' | ' | ' | ' | ' | 9,344 | 3,083 | -532 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 56,107 | 89,881 | 97,102 |
Income tax benefit (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -38,289 | -14,307 | -36,575 |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 17,818 | 75,574 | 60,527 |
Less amount attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 24,134 | 23,902 | 20,273 |
Net income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | -6,316 | 51,672 | 40,254 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -2,389 | 32,024 | -30,849 |
Unrealized gain (loss) on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,187 | -2,573 | ' |
Other adjustments to comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 6,732 | 1,135 | ' |
Reclassification adjustment for realized gain (loss) on securities included in net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,579 | ' |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -786 | 84,837 | 9,405 |
Less amount attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -2,194 | 1,705 | 8,918 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | 1,408 | 83,132 | 487 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany interest income | ' | ' | ' | ' | ' | ' | ' | ' | -411,581 | -429,591 | -292,054 |
Intercompany interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -411,581 | -429,591 | -292,054 |
Equity in earnings (loss) of nonconsolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 76,265 | 214,001 | -114,299 |
Income (loss) before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 76,265 | 214,001 | -114,299 |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 76,265 | 214,001 | -114,299 |
Net income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | 76,265 | 214,001 | -114,299 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity in subsidiary comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -17,353 | -73,491 | 105,914 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 58,912 | 140,510 | -8,385 |
Comprehensive income (loss) attributable to the Company | ' | ' | ' | ' | ' | ' | ' | ' | $58,912 | $140,510 | ($8,385) |
Guarantor_Subsidiaries_Schedul2
Guarantor Subsidiaries (Schedule Of Guarantor Obligations, Cash Flow) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | $19,103 | $11,990 | $18,730 | ($74,149) | ($139,494) | $24,825 | $652 | ($45,193) | ($24,326) | ($159,210) | $63,219 |
Reconciling items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges | 13,150 | 0 | 0 | 0 | 37,651 | 0 | 0 | 0 | 13,150 | 37,651 | 7,614 |
Depreciation and amortization | 106,933 | 98,344 | 97,566 | 100,327 | 106,907 | 100,352 | 99,668 | 92,337 | 403,170 | 399,264 | 432,035 |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | -31,216 | -157,315 | -1,393 |
Provision for doubtful accounts | ' | ' | ' | ' | ' | ' | ' | ' | 5,124 | 7,000 | 5,977 |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 7,725 | 10,589 | 10,913 |
(Gain) loss on sale of operating assets | ' | ' | ' | ' | ' | ' | ' | ' | -22,979 | -50,943 | -8,591 |
Loss on marketable securities | 0 | 18 | 0 | 0 | 2,578 | 0 | 0 | 0 | 18 | 2,578 | 4,827 |
Amortization of deferred financing charges and note discounts, net | ' | ' | ' | ' | ' | ' | ' | ' | 8,562 | 10,963 | 7,653 |
Loss on extinguishment of debt | 0 | 0 | 0 | 0 | 221,071 | 0 | 0 | 0 | 0 | 221,071 | 0 |
Other reconciling items, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,188 | 112 | -5,329 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Increase) decrease in accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | 43,429 | -46,294 | 15,829 |
Increase (decrease) in accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | 18,176 | 25,294 | -35,842 |
Increase (decrease) in accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -10,407 | 2,503 | 23,702 |
Increase in deferred income | ' | ' | ' | ' | ' | ' | ' | ' | 334 | 24,069 | -10,212 |
Changes in other operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | 1,692 | 27,806 | 6,816 |
Net cash provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 414,640 | 355,138 | 517,218 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases of property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | -206,187 | -275,577 | -291,050 |
Decrease (increase) in intercompany notes receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Dividends From Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Purchases of other operating assets | ' | ' | ' | ' | ' | ' | ' | ' | -10,483 | -5,719 | -14,794 |
Proceeds from disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 42,134 | 56,433 | 12,883 |
Purchases of businesses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -4,721 | -13,179 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,143 | -4,164 | 7,206 |
Net cash provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -177,679 | -233,748 | -298,934 |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Draws on credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | 2,752 | 2,063 | 0 |
Payments on credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | -4,815 | -3,368 | -4,151 |
Proceeds from long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 4,917,643 | 5,012 |
Payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | -6,626 | -2,700,786 | -20,099 |
Payments to repurchase noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -61,143 | -7,040 | -4,682 |
(Decrease) increase in intercompany notes payable, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net transfers to Clear Channel Communications | ' | ' | ' | ' | ' | ' | ' | ' | -149,957 | -73,127 | -272,262 |
Intercompany funding | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Deferred financing charges | ' | ' | ' | ' | ' | ' | ' | ' | -344 | -69,988 | 0 |
Dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | -200,010 | -2,170,396 | 0 |
Dividends and other payments to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -68,442 | -6,931 | -3,571 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | 4,192 | 6,381 | 1,009 |
Net cash provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -484,393 | -105,549 | -298,744 |
Effect of exchange rate changes on cash | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 3,483 | -903 |
Net increase (decrease) increase in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -247,434 | 19,324 | -81,363 |
Cash and cash equivalents at beginning of year | ' | ' | ' | 561,979 | ' | ' | ' | 542,655 | 561,979 | 542,655 | 624,018 |
Cash and cash equivalents at end of year | 314,545 | ' | ' | ' | 561,979 | ' | ' | ' | 314,545 | 561,979 | 542,655 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -48,460 | -183,112 | 42,946 |
Reconciling items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | -51 | 1 | ' |
(Gain) loss on sale of operating assets | ' | ' | ' | ' | ' | ' | ' | ' | 494 | 487 | ' |
Other reconciling items, net | ' | ' | ' | ' | ' | ' | ' | ' | 48,847 | 183,774 | -41,964 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in other operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | 557 | -327 | -661 |
Net cash provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 1,387 | 823 | 321 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends From Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 1,153 | 2,167,000 | ' |
Net cash provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 1,153 | 2,167,000 | ' |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net transfers to Clear Channel Communications | ' | ' | ' | ' | ' | ' | ' | ' | -149,957 | -73,127 | -272,262 |
Intercompany funding | ' | ' | ' | ' | ' | ' | ' | ' | 219,009 | -48,966 | 169,805 |
Dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | -200,010 | -2,170,396 | ' |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | 4,192 | 6,381 | 1,090 |
Net cash provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -126,766 | -2,286,108 | -101,367 |
Net increase (decrease) increase in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -124,226 | -118,285 | -101,046 |
Cash and cash equivalents at beginning of year | ' | ' | ' | 207,411 | ' | ' | ' | 325,696 | 207,411 | 325,696 | 426,742 |
Cash and cash equivalents at end of year | 83,185 | ' | ' | ' | 207,411 | ' | ' | ' | 83,185 | 207,411 | 325,696 |
Subsidiary Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -19,670 | -81,899 | 32,081 |
Reconciling items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 222 | -137 |
Amortization of deferred financing charges and note discounts, net | ' | ' | ' | ' | ' | ' | ' | ' | 7,391 | 3,636 | ' |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 182,062 | ' |
Other reconciling items, net | ' | ' | ' | ' | ' | ' | ' | ' | 12,274 | -46,643 | -32,730 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 96 |
Increase (decrease) in accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -20 | ' | ' |
Changes in other operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | 75,109 | -76,100 | 969 |
Net cash provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 75,084 | -18,722 | 279 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease (increase) in intercompany notes receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | 127,305 | -2,355,648 | 66,780 |
Net cash provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 127,305 | -2,355,648 | 66,780 |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,917,643 | ' |
Payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,682,062 | ' |
Intercompany funding | ' | ' | ' | ' | ' | ' | ' | ' | -202,389 | 199,039 | -67,059 |
Deferred financing charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | -60,250 | ' |
Net cash provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -202,389 | 2,374,370 | -67,059 |
Cash and cash equivalents at beginning of year | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' |
Cash and cash equivalents at end of year | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -50,279 | -183,774 | 41,964 |
Reconciling items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,651 | 6,468 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 194,793 | 189,525 | 207,416 |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | -22,225 | -129,431 | 12,409 |
Provision for doubtful accounts | ' | ' | ' | ' | ' | ' | ' | ' | 3,211 | 3,653 | 1,351 |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 4,881 | 6,060 | 7,748 |
(Gain) loss on sale of operating assets | ' | ' | ' | ' | ' | ' | ' | ' | -28,129 | -12,086 | -9,326 |
Amortization of deferred financing charges and note discounts, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,171 | 7,327 | 7,653 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39,009 | ' |
Other reconciling items, net | ' | ' | ' | ' | ' | ' | ' | ' | 15,241 | 76,543 | -39,704 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Increase) decrease in accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | 47,475 | -26,922 | 16,301 |
Increase (decrease) in accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | 4,991 | 2,868 | -38,341 |
Increase (decrease) in accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -2,131 | -25,587 | 40,587 |
Increase in deferred income | ' | ' | ' | ' | ' | ' | ' | ' | -7,582 | 15,694 | -3,564 |
Changes in other operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -66,316 | 102,907 | -7,825 |
Net cash provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 95,101 | 103,437 | 243,137 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases of property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | -96,873 | -123,470 | -121,305 |
Decrease (increase) in intercompany notes receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,763 | ' |
Dividends From Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | 641 | 704 |
Purchases of other operating assets | ' | ' | ' | ' | ' | ' | ' | ' | -9,480 | -1,032 | -14,203 |
Proceeds from disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 33,925 | 9,949 | 8,746 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | -16 | -1,000 | -488 |
Net cash provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -72,444 | -118,675 | -126,546 |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments on credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -397 |
Payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | -41 | -120 | ' |
(Decrease) increase in intercompany notes payable, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,355,648 | 277 |
Intercompany funding | ' | ' | ' | ' | ' | ' | ' | ' | -16,387 | -163,552 | -116,390 |
Deferred financing charges | ' | ' | ' | ' | ' | ' | ' | ' | -344 | -9,738 | ' |
Dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,167,000 | ' |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -81 |
Net cash provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -16,772 | 15,238 | -116,591 |
Net increase (decrease) increase in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 5,885 | ' | ' |
Cash and cash equivalents at beginning of year | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' |
Cash and cash equivalents at end of year | 5,885 | ' | ' | ' | 0 | ' | ' | ' | 5,885 | 0 | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 17,818 | 75,574 | 60,527 |
Reconciling items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 13,150 | ' | 1,146 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 208,377 | 209,739 | 224,619 |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | -8,940 | -28,107 | -13,665 |
Provision for doubtful accounts | ' | ' | ' | ' | ' | ' | ' | ' | 1,913 | 3,347 | 4,626 |
Share-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 2,844 | 4,529 | 3,165 |
(Gain) loss on sale of operating assets | ' | ' | ' | ' | ' | ' | ' | ' | 4,656 | -39,344 | 735 |
Loss on marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 2,578 | 4,827 |
Other reconciling items, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,091 | 439 | -5,230 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Increase) decrease in accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | -4,046 | -19,372 | -472 |
Increase (decrease) in accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | 13,185 | 22,426 | 2,403 |
Increase (decrease) in accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | -13,049 | 394 | 9,091 |
Increase in deferred income | ' | ' | ' | ' | ' | ' | ' | ' | 7,916 | 8,375 | -6,648 |
Changes in other operating assets and liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -7,658 | 1,326 | 14,333 |
Net cash provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 238,275 | 241,904 | 299,457 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases of property, plant and equipment | ' | ' | ' | ' | ' | ' | ' | ' | -109,314 | -152,107 | -169,745 |
Purchases of other operating assets | ' | ' | ' | ' | ' | ' | ' | ' | -1,003 | -4,687 | -591 |
Proceeds from disposal of assets | ' | ' | ' | ' | ' | ' | ' | ' | 8,209 | 46,484 | 4,137 |
Purchases of businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,721 | -13,179 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | -3,127 | -3,164 | 7,495 |
Net cash provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -105,235 | -118,195 | -171,883 |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Draws on credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | 2,752 | 2,063 | ' |
Payments on credit facilities | ' | ' | ' | ' | ' | ' | ' | ' | -4,815 | -3,368 | -3,754 |
Proceeds from long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,012 |
Payments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | -6,585 | -18,604 | -20,099 |
Payments to repurchase noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -61,143 | -7,040 | -4,682 |
(Decrease) increase in intercompany notes payable, net | ' | ' | ' | ' | ' | ' | ' | ' | -127,305 | 3,763 | -67,057 |
Intercompany funding | ' | ' | ' | ' | ' | ' | ' | ' | -233 | 13,479 | 13,644 |
Dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | -1,153 | -641 | -704 |
Dividends and other payments to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -68,442 | -6,931 | -3,571 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 199 |
Net cash provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -266,924 | -17,279 | -81,012 |
Effect of exchange rate changes on cash | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 3,483 | -903 |
Net increase (decrease) increase in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -133,886 | 109,913 | 45,659 |
Cash and cash equivalents at beginning of year | ' | ' | ' | 359,361 | ' | ' | ' | 249,448 | 359,361 | 249,448 | 203,789 |
Cash and cash equivalents at end of year | 225,475 | ' | ' | ' | 359,361 | ' | ' | ' | 225,475 | 359,361 | 249,448 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 76,265 | 214,001 | -114,299 |
Reconciling items: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other reconciling items, net | ' | ' | ' | ' | ' | ' | ' | ' | -76,265 | -214,001 | 114,299 |
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | 4,793 | 27,696 | -25,976 |
Net cash provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 4,793 | 27,696 | -25,976 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Decrease (increase) in intercompany notes receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | -127,305 | 2,359,411 | -66,780 |
Dividends From Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -1,153 | -2,167,641 | -704 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 199 |
Net cash provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -128,458 | 191,770 | -67,285 |
Cash flows from financing activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
(Decrease) increase in intercompany notes payable, net | ' | ' | ' | ' | ' | ' | ' | ' | 127,305 | -2,359,411 | 66,780 |
Dividends paid | ' | ' | ' | ' | ' | ' | ' | ' | 1,153 | 2,167,641 | 704 |
Change in other, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -199 |
Net cash provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 128,458 | -191,770 | 67,285 |
Net increase (decrease) increase in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 4,793 | 27,696 | -25,976 |
Cash and cash equivalents at beginning of year | ' | ' | ' | -4,793 | ' | ' | ' | -32,489 | -4,793 | -32,489 | -6,513 |
Cash and cash equivalents at end of year | ' | ' | ' | ' | ($4,793) | ' | ' | ' | ' | ($4,793) | ($32,489) |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance For Doubtful Accounts [Member] | ' | ' | ' |
Movement In Valuation Allowances And Reserves [Roll Forward] | ' | ' | ' |
Valuation allowance and qualifying accounts, beginning balance | $36,669 | $41,350 | $49,032 |
Charges to costs, expenses and other | 5,124 | 7,000 | 5,977 |
Write-off of accounts receivable | 9,390 | 6,955 | 13,530 |
Adjustments and other | 724 | -4,726 | -129 |
Valuation allowance and qualifying accounts, ending balance | 33,127 | 36,669 | 41,350 |
Valuation Allowance Of Deferred Tax Assets [Member] | ' | ' | ' |
Movement In Valuation Allowances And Reserves [Roll Forward] | ' | ' | ' |
Valuation allowance and qualifying accounts, beginning balance | 179,807 | 189,198 | 189,405 |
Charges to costs, expenses and other | 5,647 | 14,309 | 8,548 |
Reversal | -5 | -21,727 | -5,235 |
Adjustments and other | -5,165 | -1,973 | -3,520 |
Valuation allowance and qualifying accounts, ending balance | $180,284 | $179,807 | $189,198 |