Clear Channel Outdoor (CCO) 10-Q 7 Aug 20 2020 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2020	Aug. 04, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-32663
Entity Registrant Name	CLEAR CHANNEL OUTDOOR HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-0318078
Entity Address, Address Line One	4830 North Loop 1604 West,
Entity Address, Address Line Two	Suite 111
Entity Address, City or Town	San Antonio,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78249
City Area Code	(210)
Local Phone Number	547-8800
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		467,328,864
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001334978
Current Fiscal Year End Date	--12-31
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	CCO
Security Exchange Name	NYSE
Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS
Cash and cash equivalents	$ 662,088	$ 398,858
Accounts receivable	393,958	733,471
Less: Allowance for credit losses	(24,680)	(23,786)
Accounts receivable, net	369,278	709,685
Prepaid expenses	57,535	60,593
Other current assets	29,788	32,755
Total Current Assets	1,118,689	1,201,891
PROPERTY, PLANT AND EQUIPMENT
Structures, net	712,723	953,545
Other property, plant and equipment, net	208,464	257,609
INTANGIBLE ASSETS AND GOODWILL
Indefinite-lived permits	843,846	965,863
Other intangible assets, net	302,877	326,665
Goodwill	702,457	704,158
OTHER ASSETS
Operating lease right-of-use assets	1,601,221	1,885,482
Other assets	73,562	98,075
Total Assets	5,563,839	6,393,288
CURRENT LIABILITIES
Accounts payable	112,498	94,588
Accrued expenses	363,144	503,939
Current operating lease liabilities	329,683	387,882
Deferred revenue	84,383	84,035
Accrued interest	106,926	89,786
Current portion of long-term debt	20,665	20,294
Total Current Liabilities	1,017,299	1,180,524
NON-CURRENT LIABILITIES
Long-term debt	5,257,138	5,063,724
Mandatorily-redeemable preferred stock	0	44,912
Non-current operating lease liabilities	1,304,490	1,559,743
Deferred tax liability	410,255	416,066
Other long-term liabilities	182,512	183,025
Total Liabilities	8,171,694	8,447,994
Commitments and Contingencies (Note 5)
STOCKHOLDERS’ DEFICIT
Noncontrolling interest	11,424	152,814
Common stock, par value $0.01 per share: 2,350,000,000 shares authorized; 468,367,036 shares issued as of June 30, 2020; 466,744,939 shares issued as of December 31, 2019	4,684	4,667
Additional paid-in capital	3,496,641	3,489,593
Accumulated deficit	(5,771,481)	(5,349,611)
Accumulated other comprehensive loss	(346,400)	(349,552)
Treasury stock (1,082,635 shares held as of June 30, 2020; 504,650 shares held as of December 31, 2019)	(2,723)	(2,617)
Total Stockholders' Deficit	(2,607,855)	(2,054,706)
Total Liabilities and Stockholders' Deficit	$ 5,563,839	$ 6,393,288

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	2,350,000,000	2,350,000,000
Common stock issued (in shares)	468,367,036	466,744,939
Treasury stock (in shares)	1,082,635	504,650

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 314,906	$ 698,015	$ 865,715	$ 1,285,131
Operating expenses:
Direct operating expenses (excludes depreciation and amortization)	254,553	363,029	604,822	710,856
Selling, general and administrative expenses (excludes depreciation and amortization)	99,688	134,721	223,392	257,687
Corporate expenses (excludes depreciation and amortization)	32,665	38,907	69,003	67,521
Depreciation and amortization	66,192	80,174	141,945	155,250
Impairment charges	0	0	123,137	0
Other operating income (expense), net	69,600	1,270	63,579	(2,252)
Operating income (loss)	(68,592)	82,454	(233,005)	91,565
Interest expense, net	88,742	107,971	178,884	222,834
Loss on Due from iHeartCommunications	0	(5,778)	0	(5,778)
Loss on extinguishment of debt	0	0	0	(5,474)
Other expense, net	(4,490)	(9,203)	(23,379)	(9,768)
Consolidated net loss before income taxes	(161,824)	(40,498)	(435,268)	(152,289)
Income tax benefit (expense)	19,221	29,093	3,442	(28,670)
Consolidated net loss	(142,603)	(11,405)	(431,826)	(180,959)
Less amount attributable to noncontrolling interest	(5,405)	(466)	(17,137)	(5,853)
Net loss attributable to the Company	(137,198)	(10,939)	(414,689)	(175,106)
Other comprehensive income (loss):
Foreign currency translation adjustments	10,442	172	(5,979)	2,721
Other adjustments to comprehensive income, net of tax	(19)	2,592	(19)	2,592
Other comprehensive income (loss)	10,423	2,764	(5,998)	5,313
Comprehensive loss	(126,775)	(8,175)	(420,687)	(169,793)
Less amount attributable to noncontrolling interest	350	(3,021)	(1,901)	563
Comprehensive loss attributable to the Company	$ (127,125)	$ (5,154)	$ (418,786)	$ (170,356)
Net Income (Loss) Attributable to Parent [Abstract]
Net loss attributable to the Company per share of common stock (in dollars per share)	$ (0.30)	$ (0.03)	$ (0.89)	$ (0.48)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Cumulative Effect, Period Of Adoption, Adjustment	Common Stock	Non-controlling Interest	Additional Paid-in Capital	Accumulated Deficit	Accumulated DeficitCumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock	Class A Common Shares IssuedCommon Stock	Class B Common Shares IssuedCommon Stock	Common Shares IssuedCommon Stock
Beginning balance (in shares) at Dec. 31, 2018										51,559,633	315,000,000
Beginning balance at Dec. 31, 2018	$ (2,101,652)	$ 14,613	$ 3,666	$ 160,362	$ 3,086,307	$ (5,000,920)	$ 14,613	$ (344,489)	$ (6,578)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(180,959)			(5,853)		(175,106)
Exercise of stock options and release of stock awards (in shares)										187,120		797,340
Exercise of stock options and release of stock awards	(2,128)		9		295				(2,432)
Share-based compensation	10,395			39	10,356
Payments to noncontrolling interests	(9,548)			(9,548)
Recapitalization of equity (in shares)										(51,746,753)	(315,000,000)	365,618,611
Recapitalization of equity	0		(11)		(6,575)				6,586
Capital contributions	114,967				114,967
Distributions	(65,936)				(65,936)
Other comprehensive income (loss)	5,313			563				4,750
Other	10				10
Ending balance (in shares) at Jun. 30, 2019										0	0	366,415,951
Ending balance at Jun. 30, 2019	(2,214,925)		3,664	145,563	3,139,424	(5,161,413)		(339,739)	(2,424)
Beginning balance (in shares) at Mar. 31, 2019										51,709,760	315,000,000
Beginning balance at Mar. 31, 2019	(2,255,830)		3,667	155,027	3,088,061	(5,150,474)		(345,524)	(6,587)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(11,405)			(466)		(10,939)
Exercise of stock options and release of stock awards (in shares)										36,993		797,340
Exercise of stock options and release of stock awards	(2,192)		8		223				(2,423)
Share-based compensation	8,561			(113)	8,674
Payments to noncontrolling interests	(5,864)			(5,864)
Recapitalization of equity (in shares)										(51,746,753)	(315,000,000)	365,618,611
Recapitalization of equity			(11)		(6,575)				6,586
Capital contributions	114,967				114,967
Distributions	(65,936)				(65,936)
Other comprehensive income (loss)	2,764			(3,021)				5,785
Other	10				10
Ending balance (in shares) at Jun. 30, 2019										0	0	366,415,951
Ending balance at Jun. 30, 2019	(2,214,925)		$ 3,664	145,563	3,139,424	(5,161,413)		(339,739)	(2,424)
Beginning balance (in shares) at Dec. 31, 2019			466,744,939
Beginning balance at Dec. 31, 2019	(2,054,706)	$ (7,181)	$ 4,667	152,814	3,489,593	(5,349,611)	$ (7,181)	(349,552)	(2,617)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(431,826)			(17,137)		(414,689)
Exercise of stock options and release of stock awards (in shares)			1,622,097
Exercise of stock options and release of stock awards	(57)		$ 17		32				(106)
Share-based compensation	6,883			50	6,833
Payments to noncontrolling interests	(198)			(198)
Clear Media divestiture	(114,772)			(122,204)	183			7,249
Other comprehensive income (loss)	(5,998)			(1,901)				(4,097)
Ending balance (in shares) at Jun. 30, 2020			468,367,036
Ending balance at Jun. 30, 2020	(2,607,855)		$ 4,684	11,424	3,496,641	(5,771,481)		(346,400)	(2,723)
Beginning balance (in shares) at Mar. 31, 2020			466,914,142
Beginning balance at Mar. 31, 2020	(2,363,543)		$ 4,669	138,755	3,493,369	(5,634,283)		(363,722)	(2,331)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(142,603)			(5,405)		(137,198)
Exercise of stock options and release of stock awards (in shares)			1,452,894
Exercise of stock options and release of stock awards	(383)		$ 15		(6)				(392)
Share-based compensation	3,106			8	3,098
Payments to noncontrolling interests	(80)			(80)
Clear Media divestiture	(114,772)			(122,204)	183			7,249
Recapitalization of equity	0
Other comprehensive income (loss)	10,423			350				10,073
Other	(3)				(3)			0
Ending balance (in shares) at Jun. 30, 2020			468,367,036
Ending balance at Jun. 30, 2020	$ (2,607,855)		$ 4,684	$ 11,424	$ 3,496,641	$ (5,771,481)		$ (346,400)	$ (2,723)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Consolidated net loss	$ (431,826)	$ (180,959)
Reconciling items:
Depreciation and amortization	141,945	155,250
Impairment charges	123,137	0
Loss (gain) on disposal of operating and other assets, net	(71,100)	2,090
Foreign exchange transaction loss	22,731	3,625
Deferred taxes	(21,242)	(15,143)
Credit losses	11,886	4,417
Share-based compensation	6,883	10,395
Amortization of deferred financing charges and note discounts, net	5,116	5,230
Loss on Due from iHeartCommunications	0	5,778
Loss on extinguishment of debt	0	5,474
Other reconciling items, net	(2,682)	(2,787)
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:
Decrease in accounts receivable	203,235	44,823
Increase in prepaid expenses	(2,303)	(29,272)
Increase in other current assets	(7,067)	(5,674)
Increase (decrease) in accounts payable	30,275	(3,364)
Decrease in accrued expenses	(56,475)	(25,190)
Increase in accrued interest	20,754	55,632
Increase in deferred revenue	20,502	10,539
Changes in other operating assets and liabilities, net	(18,191)	14,271
Net cash provided by (used for) operating activities	(24,422)	55,135
Cash flows from investing activities:
Proceeds from disposal of assets, net	217,023	2,518
Purchases of property, plant and equipment	(63,171)	(79,281)
Purchases of concession rights	(3,792)	0
Other investing activities, net	(484)	76
Net cash provided by (used for) investing activities	149,576	(76,687)
Cash flows from financing activities:
Draws on credit facilities	150,000	0
Proceeds from long-term debt	0	2,235,197
Payments on long-term debt	(10,145)	(2,200,113)
Debt issuance costs	(1,202)	(26,795)
Proceeds from issuance of mandatorily-redeemable preferred stock	0	43,798
Net transfers from iHeartCommunications	0	43,399
Proceeds from settlement of Due from iHeartCommunications	0	115,798
Other financing activities, net	(261)	(2,956)
Net cash provided by financing activities	138,392	208,328
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(7,271)	159
Net increase in cash, cash equivalents and restricted cash	256,275	186,935
Cash, cash equivalents and restricted cash at beginning of period	417,075	202,869
Cash, cash equivalents and restricted cash at end of period	673,350	389,804
Supplemental Disclosures:
Cash paid for interest and dividends on mandatorily-redeemable preferred stock	155,185	161,184
Cash paid for income taxes, net of refunds	$ 9,982	$ 21,598

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Preparation of Interim Financial Statements The consolidated financial statements include the accounts of Clear Channel Outdoor Holdings, Inc. and its subsidiaries, as well as entities for which the Company has a controlling financial interest or is the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation. All references in this Quarterly Report on Form 10-Q to the “Company,” “we,” “us” and “our” refer to Clear Channel Outdoor Holdings, Inc. and its consolidated subsidiaries. The accompanying consolidated financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. Due to seasonality and other factors, the results for the interim periods may not be indicative of results for the full year. The financial statements contained herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s 2019 Annual Report on Form 10-K, filed on February 27, 2020. Prior to the Company's separation from iHeartMedia, Inc. ("iHeartMedia") and iHeartCommunications, Inc. ("iHeartCommunications") on May 1, 2019 (the "Separation"), the historical financial statements of the Company consisted of the carve-out financial statements of the outdoor businesses of Clear Channel Holdings, Inc. ("CCH"), Clear Channel Outdoor Holdings, Inc. ("CCOH") and its subsidiaries (the "Outdoor Business") and gave effect to allocations of expenses from iHeartMedia to the Company. The carve-out financial statements excluded the portion of the radio businesses previously owned by CCH, which had historically been reported as part of iHeartMedia’s iHM segment prior to the Separation, and amounts attributable to CCH, which was a holding company prior to the Separation with no independent assets or operations. Upon the Separation and the transactions related thereto, the Company’s only assets, liabilities and operations were those of the Outdoor Business. Certain prior period amounts have been reclassified to conform to the 2020 presentation. The Company changed its presentation of segment information during the first quarter of 2020 to reflect changes in the way the business is managed and resources are allocated by the Company's chief operating decision maker ("CODM"). Effective January 1, 2020, there are two reportable business segments: Americas, which consists of operations primarily in the United States ("U.S."), and Europe, which consists of operations in Europe and Singapore. The Company's remaining operating segments in China and Latin America, which do not meet the quantitative thresholds to qualify as reportable segments, are disclosed as "Other." Accordingly, the Company has restated the segment disclosures for prior periods. Refer to Note 2 for additional details. In March 2020, the World Health Organization categorized coronavirus disease 2019 ("COVID-19") as a pandemic. COVID-19 continues to spread throughout the U.S. and other countries across the world, and the duration and severity of its effects are currently unknown. The Company has taken and continues to take actions to strengthen its financial position and support the continuity of its platform and operations. These actions include contract negotiations with landlords and municipalities to better align fixed site lease expenses with reductions in revenue. Where applicable, the Company has applied the April supplemental Financial Accounting Standards Board ("FASB") staff guidance regarding accounting for rent concessions resulting from COVID-19. During the second quarter of 2020, the Company recognized reductions of rent expense on lease and non-lease contracts due to negotiated rent abatements of $29.4 million. Negotiated deferrals of rent payments only did not result in a reduction of rent expense. The Company’s consolidated financial statements presented herein reflect estimates and assumptions made by management that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the periods presented. Such estimates and assumptions affect, among other things, the Company’s goodwill, long-lived asset and indefinite-lived intangible assets; operating lease right-of-use assets and operating lease liabilities; assessment of the annual effective tax rate; valuation of deferred income taxes and income tax contingencies; the allowance for doubtful accounts; assessment of our lease and non-lease contract expenses; and measurement of compensation cost for bonus and other compensation plans. The Company's assessment of conditions and events, considered in the aggregate, indicates it will be able to meet its obligations as they become due within one year after the date of these financial statements. There continues to be a high level of uncertainty in estimating the expected economic and operational impacts relative to COVID-19 as it is an evolving situation. The estimates and assumptions used in the second quarter 2020 financial statements may change in future periods as the expected impacts from COVID-19 are revised, resulting in further potential impacts to the Company's financial statements. New Accounting Pronouncements Recently Adopted As of January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Measurement of Credit Losses on Financial Instruments, which changed the methodology used to recognize impairment of the Company’s accounts receivable. Under the ASU, financial assets are presented at the net amount expected to be collected, requiring immediate recognition of estimated credit losses expected to occur over the asset's remaining life. This is in contrast to previous GAAP, under which credit losses were not recognized until it was probable that a loss had been incurred. The Company adopted the ASU on a modified-retrospective basis through a cumulative-effect adjustment to retained earnings as of January 1, 2020, resulting in a decrease to equity of $7.2 million. This adjustment includes $5.4 million related to Clear Media Limited ("Clear Media"), a former indirect, non-wholly owned subsidiary of the Company based in China that was sold on April 28, 2020. The Company performed its expected credit loss calculation separately by segment based on historical accounts receivable write-offs. New Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain existing exceptions to the general principles in Topic 740. The new guidance is effective for annual and interim periods beginning after December 2020, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

SEGMENT DATA

SEGMENT DATA	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
SEGMENT DATA	SEGMENT DATA As described in Note 1, the Company changed its presentation of segment information during the first quarter of 2020 to reflect changes in the way the business is managed and resources are allocated by the Company's CODM. Effective January 1, 2020, the Company has two reportable segments – Americas and Europe. The Company's operating segments in China and Latin America, which do not meet the quantitative thresholds to qualify as reportable segments, are disclosed as "Other." As discussed in Note 12, the Company sold its operations in China on April 28, 2020. Accordingly, "Other" segment information presented below includes China through the date of the sale. Each segment provides outdoor advertising services in its respective geographic region using various digital and traditional display types, consisting primarily of billboards, street furniture displays and transit displays. Additionally, beginning in 2020, Segment Adjusted EBITDA is the profitability metric reported to the Company's CODM for purposes of making decisions about allocation of resources to, and assessing performance of, each reportable segment. Segment Adjusted EBITDA is calculated as revenue less direct operating expenses and selling, general and administrative expenses, excluding restructuring and other costs, which are defined as costs associated with cost-saving initiatives such as severance, consulting and termination costs and other special costs. Segment information for total assets is not presented as this information is not used by the Company's CODM in measuring segment performance or allocating resources between segments. The following tables present the Company's reportable segment results for the three and six months ended June 30, 2020 and 2019. The Company has restated the segment information for prior periods to conform to the 2020 presentation. (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenue Americas $ 199,700 $ 327,142 $ 495,487 $ 599,864 Europe 107,346 290,437 319,036 534,332 Other 7,860 80,436 51,192 150,935 Total $ 314,906 $ 698,015 $ 865,715 $ 1,285,131 Capital Expenditures Americas $ 8,405 $ 15,930 $ 31,896 $ 27,338 Europe 9,327 22,491 19,422 34,425 Other 2,043 6,174 8,385 9,059 Corporate 3,620 6,513 7,260 8,459 Total $ 23,395 $ 51,108 $ 66,963 $ 79,281 Segment Adjusted EBITDA Americas $ 47,019 $ 136,747 $ 154,977 227,876 Europe (68,819) 46,536 (82,930) 63,017 Other (15,255) 20,141 (30,442) 31,361 Total $ (37,055) $ 203,424 $ 41,605 $ 322,254 Reconciliation of Segment Adjusted EBITDA to Consolidated Net Loss Before Income Taxes Segment Adjusted EBITDA $ (37,055) $ 203,424 $ 41,605 $ 322,254 Less reconciling items: Corporate expenses (1) 32,665 38,907 69,003 67,521 Depreciation and amortization 66,192 80,174 141,945 155,250 Impairment charges — — 123,137 — Restructuring and other costs 2,280 3,159 4,104 5,666 Other operating (income) expense, net (69,600) (1,270) (63,579) 2,252 Interest expense, net 88,742 107,971 178,884 222,834 Other charges (2) 4,490 14,981 23,379 21,020 Consolidated net loss before income taxes $ (161,824) $ (40,498) $ (435,268) $ (152,289) (1) Corporate expenses include expenses related to 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. (2) Other charges includes loss on due from iHeartCommunications, loss on extinguishment of debt and other expense, net.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUEThe Company generates revenue primarily from the sale of advertising space on printed and digital out-of-home advertising displays. Certain of these revenue transactions are considered leases for accounting purposes as the contracts convey to customers the right to control the use of the Company’s advertising displays for a period of time. The Company accounts for revenue from leases in accordance with the lease accounting guidance under Accounting Standards Codification ("ASC") Topic 842; all remaining revenue transactions are accounted for as revenue from contracts with customers under ASC Topic 606. Disaggregation of Revenue The following table shows revenue from contracts with customers, revenue from leases and total revenue, disaggregated by geographical region, for the three and six months ended June 30, 2020 and 2019: (In thousands) Revenue from contracts with customers Revenue from leases Total Revenue Three Months Ended June 30, 2020 Americas $ 89,903 $ 109,797 $ 199,700 Europe 90,985 16,361 107,346 Other (1) 7,413 447 7,860 Total $ 188,301 $ 126,605 $ 314,906 Three Months Ended June 30, 2019 Americas $ 182,526 $ 144,616 $ 327,142 Europe 255,024 35,413 290,437 Other (1) 74,479 5,957 80,436 Total $ 512,029 $ 185,986 $ 698,015 Six Months Ended June 30, 2020 Americas $ 253,181 $ 242,306 $ 495,487 Europe 278,175 40,861 319,036 Other (1) 46,689 4,503 51,192 Total $ 578,045 $ 287,670 $ 865,715 Six Months Ended June 30, 2019 Americas $ 314,853 $ 285,011 $ 599,864 Europe 458,885 75,447 534,332 Other (1) 138,699 12,236 150,935 Total $ 912,437 $ 372,694 $ 1,285,131 (1) Other includes the Company's businesses in China and Latin America. Revenue from Contracts with Customers The following tables show the Company’s beginning and ending accounts receivable and deferred revenue balances from contracts with customers: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2020 2019 2020 2019 Accounts receivable, net of allowance, from contracts with customers: Beginning balance $ 375,509 $ 418,916 $ 581,555 $ 367,918 Ending balance $ 239,957 $ 509,129 $ 239,957 $ 509,129 Deferred revenue from contracts with customers: Beginning balance $ 57,022 $ 57,073 $ 52,589 $ 39,916 Ending balance $ 47,760 $ 55,164 $ 47,760 $ 55,164 During the three months ended June 30, 2020 and 2019, respectively, the Company recognized $20.3 million and $38.2 million of revenue that was included in the deferred revenue from contracts with customers balance at the beginning of the quarter. During the six months ended June 30, 2020 and 2019, respectively, the Company recognized $44.5 million and $32.3 million of revenue that was included in the deferred revenue from contracts with customers balance at the beginning of the quarter. The Company’s contracts with customers generally have terms of one year or less; however, as of June 30, 2020, the Company expects to recognize $101.5 million of revenue in future periods for remaining performance obligations from current contracts with customers that have an original expected duration greater than one year, with the majority of this amount to be recognized over the next five years. Bad debt expense related to receivables from contracts with customers and leases was $8.2 million and $2.6 million during the three months ended June 30, 2020 and 2019, respectively, and $11.9 million and $4.4 million during the six months ended June 30, 2020 and 2019, respectively. The increase in bad debt expense in 2020 is primarily due to COVID-19.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt outstanding as of June 30, 2020 and December 31, 2019 consisted of the following: (In thousands) June 30, December 31, Term Loan Facility (1) $ 1,985,000 $ 1,995,000 Revolving Credit Facility (2) 150,000 — Receivables-Based Credit Facility — — Clear Channel Outdoor Holdings 5.125% Senior Secured Notes Due 2027 1,250,000 1,250,000 Clear Channel Worldwide Holdings 9.25% Senior Notes Due 2024 (3) 1,901,525 1,901,525 Clear Channel International, B.V. Promissory Note Due 2022 (4) 54,265 — Other debt 5,398 4,161 Original issue discount (13,612) (9,561) Long-term debt fees (54,773) (57,107) Total debt $ 5,277,803 $ 5,084,018 Less: Current portion 20,665 20,294 Total long-term debt $ 5,257,138 $ 5,063,724 (1) In March and June 2020, the Company paid $5.0 million each, for a total of $10.0 million, of the outstanding principal on the term loan facility ("Term Loan Facility") in accordance with the terms of the senior secured credit agreement ("Senior Secured Credit Agreement") governing the senior secured credit facilities (the "Senior Secured Credit Facilities," which consist of the Term Loan Facility and the revolving credit facility (the "Revolving Credit Facility")). (2) On March 24 2020, the Company borrowed $150.0 million under its Revolving Credit Facility. The Revolving Credit Facility matures on August 23, 2024. (3) On February 28, 2020, the Company and the guarantors under the Indenture (the "CCWH Senior Notes Indenture") governing the 9.25% Senior Notes due 2024 (the "CCWH Senior Notes") filed a registration statement with the SEC to register the offer to exchange the CCWH Senior Notes and the guarantees thereof for a like principal amount of CCWH Senior Notes and guarantees thereof that have been registered under the Securities Act, in accordance with the deadlines set forth in the Registration Rights Agreement. The registration statement, as amended on April 6, 2020, became effective on April 7, 2020. (4) On May 15, 2020, a subsidiary of the Company issued a promissory note in the principal amount of approximately $53.0 million due May 15, 2022 ("the CCIBV Note"). The note bears interest at a rate of 14.00% per annum if paid in cash or 16.00% if paid-in-kind, to be paid quarterly. The CCIBV Note was subsequently transferred to a third party in exchange for the Company's Series A Perpetual Preferred Stock (par value of $0.01 and an aggregate liquidation preference of approximately $47 million) (the "preferred stock"). As discussed in further detail below, while the CCIBV Note was retired on August 4, 2020 concurrent with the issuance of new Clear Channel International B.V. notes, the preferred stock remains outstanding and held by the subsidiary and is eliminated in consolidation. The aggregate market value of the Company’s debt based on market prices for which quotes were available was approximately $5.0 billion and $5.4 billion as of June 30, 2020 and December 31, 2019, 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. Letters of Credit, Surety Bonds and Guarantees As of June 30, 2020, the Company had $20.2 million of letters of credit outstanding under its Revolving Credit Facility, resulting in $4.8 million of remaining excess availability. Additionally, the Company had $63.3 million of letters of credit outstanding under its receivables-based credit facility (the "Receivables-Based Credit Facility"), which had a borrowing base less than its borrowing limit of $125.0 million, limiting excess availability to $15.7 million. Access to availability under these credit facilities is limited by the covenants relating to incurrence of secured indebtedness in the CCWH Senior Notes Indenture. Additionally, as of June 30, 2020, the Company had $112.2 million and $32.6 million of surety bonds and bank guarantees outstanding, respectively, a portion of which was supported by $10.9 million of cash collateral. These letters of credit, surety bonds and bank guarantees relate to various operational matters, including insurance, bid, concession and performance bonds, as well as other items. Amendment to the Senior Credit Facility In June 2020, we entered into an amendment to the credit agreement to our Senior Credit Facility, thereby suspending the springing financial covenant through June 30, 2021 and delaying the scheduled financial covenant step-down until March 31, 2022. In addition, for all reporting periods through September 30, 2021, we are required to maintain minimum cash on hand and availability under our receivables-based credit facility and Revolving Credit Facility of $150 million. New Clear Channel International B. V. Notes On August 4, 2020, Clear Channel International B.V., our indirect wholly-owned subsidiary, issued $375.0 million aggregate principal amount of 6.625% Senior Secured Notes due 2025 (the "CCIBV Senior Secured Notes"). As anticipated with the offering, a portion of the proceeds was used to repay the CCIBV Note in full.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings 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 the Company’s litigation arises in the following contexts: commercial disputes, employment and benefits related claims, land use and zoning, governmental fines, intellectual property claims, and tax disputes. China Investigation Two former employees of Clear Media, a former indirect, non-wholly-owned subsidiary of the Company whose ordinary shares are listed on the Hong Kong Stock Exchange, have been convicted in China of certain crimes, including the crime of misappropriation of funds, and sentenced to imprisonment. The Company is not aware of any litigation, claim or assessment pending against the Company in relation to this investigation. Based on information known to date, the Company believes any contingent liabilities arising from potential misconduct that has been or may be identified by the investigation in China are not material to the Company’s consolidated financial statements. The Company advised both the SEC and the United States Department of Justice ("DOJ") of the investigation at Clear Media and is cooperating to provide documents, interviews and information to the agencies. Subsequent to the announcement that the Company was considering a strategic review of its stake in Clear Media, in March 2020, Clear Channel Outdoor Holdings received a subpoena from the staff of the SEC and a Grand Jury subpoena from the United States Attorney's Office for the Eastern District of New York, both in connection with the previously disclosed investigations. On April 28, 2020, the Company tendered the shares representing its 50.91% stake in Clear Media to Ever Harmonic Global Limited ("Ever Harmonic"), a special-purpose vehicle wholly owned by a consortium of investors which includes the chief executive officer and an executive director of Clear Media, and on May 14, 2020, the Company received the final proceeds of the sale. In connection with the sale of its shares in Clear Media, the Company entered into an Investigation and Litigation Support Agreement with Clear Media and Ever Harmonic that requires Clear Media, if requested by the SEC and/or DOJ, to use reasonable efforts to timely provide relevant factual information to the SEC and/or DOJ, among other obligations. The Clear Media investigation could implicate the books and records, internal controls and anti-bribery provisions of the U.S. Foreign Corrupt Practices Act, which statute and regulations provide for potential monetary penalties as well as criminal and civil sanctions. It is possible that monetary penalties and other sanctions could be assessed on the Company in connection with this matter. The nature and amount of any monetary penalty or other sanctions cannot reasonably be estimated at this time and could be qualitatively or quantitatively material to the Company. Italy Investigation During the three months ended June 30, 2018, the Company identified misstatements associated with VAT obligations in its business in Italy, which resulted in an understatement of its VAT obligation. These misstatements resulted in an understatement of other long-term liabilities of $16.9 million as of December 31, 2017. The effect of these misstatements is reflected in the historical financial statements in the appropriate periods. Upon identification of these misstatements, the Company undertook certain procedures, including a forensic investigation. In addition, the Company voluntarily disclosed the matter and findings to the Italian tax authorities in order to commence a discussion on the appropriate calculation of the VAT position. The current expectation is that the Company may have to repay to the Italian tax authority a substantial portion of the VAT previously applied as a credit in relation to the transactions under investigation, amounting to approximately $20.4 million, including estimated possible penalties and interest. As of June 30, 2020, the Company had made payments of $8.1 million and applied VAT recoverable of $1.7 million; the timing of the remaining repayment has not been finalized. The ultimate amount to be paid may differ from the estimates, and such differences may be material.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income Tax Benefit (Expense) The Company’s income tax benefit (expense) for the three and six months ended June 30, 2020 and 2019 consisted of the following components: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Current tax benefit (expense) $ (19,764) $ 27,907 $ (17,800) $ (43,813) Deferred tax benefit 38,985 1,186 21,242 15,143 Income tax benefit (expense) $ 19,221 $ 29,093 $ 3,442 $ (28,670) The effective tax rates for the three and six months ended June 30, 2020 were 11.9% and 0.8%, respectively. The effective rate in 2020 was primarily impacted by the valuation allowance recorded against current period deferred tax assets resulting from losses and interest expense carryforwards in the U.S. and certain foreign jurisdictions due to uncertainty regarding the Company’s ability to realize those assets in future periods. Additionally, the Company recorded $57.8 million of tax expense as a result of selling its 50.91% stake in Clear Media. The effective tax rates for the three and six months ended June 30, 2019 were 71.8% and (18.8)%, respectively. The effective rate in 2019 was primarily impacted by the valuation allowance recorded against deferred tax assets resulting from losses in U.S. and certain foreign jurisdictions due to uncertainty regarding the Company's ability to realize those assets in future periods. On March 27, 2020, the Coronavirus Aid, Relief, and Economics Security Act (“CARES Act”) was signed into law in the U.S. to provide certain relief as a result of the COVID-19 pandemic. The CARES Act, among other things, relaxes the limitation for business interest deductions for 2019 and 2020 by allowing taxpayers to deduct interest up to the sum of 50% of adjusted taxable income (previously 30% of adjusted taxable income under the Tax Cuts and Jobs Act of 2017). Additionally, the CARES Act permits net operating loss carryovers to offset 100% of taxable income for taxable years beginning before 2021. As of June 30, 2020, the CARES Act did not have a significant impact on the Company’s effective tax rate.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, Plant and Equipment The Company’s property, plant and equipment consisted of the following classes of assets as of June 30, 2020 and December 31, 2019: (In thousands) June 30, December 31, Structures $ 2,305,539 $ 2,832,797 Furniture and other equipment 224,007 234,183 Land, buildings and improvements 150,061 149,889 Construction in progress 48,101 84,289 2,727,708 3,301,158 Less: Accumulated depreciation 1,806,521 2,090,004 Property, plant and equipment, net $ 921,187 $ 1,211,154

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible Assets The following table presents the gross carrying amount and accumulated amortization for each major class of intangible assets as of June 30, 2020 and December 31, 2019: (In thousands) June 30, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Indefinite-lived permits $ 843,846 $ — $ 965,863 $ — Transit, street furniture and other outdoor 440,449 (374,736) 535,912 (451,021) Permanent easements 163,301 — 163,399 — Trademarks 83,569 (10,064) 83,569 (5,898) Other 1,836 (1,478) 5,352 (4,648) Total intangible assets $ 1,533,001 $ (386,278) $ 1,754,095 $ (461,567) During the first quarter of 2020, the Company tested its intangible assets for impairment due to the expected negative financial statement impacts from COVID-19, including a reduction in projected cash flows. This testing indicated an impairment of indefinite-lived permits in our Americas segment resulting in a charge of $123.1 million recorded in the three months ended March 31, 2020. The primary estimates and assumptions impacting the impairment were the aforementioned reductions in projected cash flows and an increased discount rate. Goodwill Due to the expected negative financial statement impacts from COVID-19, the Company tested its goodwill for impairment as of March 31, 2020; however, this did not result in any goodwill impairment charges. The following table presents changes in the goodwill balance for the Company's segments during the six months ended June 30, 2020: (In thousands) Americas Europe Other Consolidated December 31, 2019 (1) $ 507,819 $ 185,641 $ 10,698 $ 704,158 Foreign currency — (576) (1,125) (1,701) Balance as of June 30, 2020 $ 507,819 $ 185,065 $ 9,573 $ 702,457 (1) The balance at December 31, 2019 is net of cumulative impairments of $2.6 billion, $191.4 million and $80.7 million for Americas, Europe and Other, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Prior to the Separation on May 1, 2019, under the Corporate Services Agreement between iHeartCommunications and the Company, iHeartCommunications provided management services to the Company. These services were charged to the Company based on actual direct costs incurred or allocated by iHeartCommunications based on headcount, revenue or other factors on a pro rata basis. For the one-month and four-month periods ended April 30, 2019, the Company recorded $2.8 million and $10.2 million, respectively, as a component of corporate expenses for these services. Upon consummation of the Separation, the Corporate Services Agreement was terminated, and iHeartMedia, iHeartMedia Management Services, Inc. (“iHM Management Services”), iHeartCommunications and the Company entered into a one-year transition services agreement (the “Transition Services Agreement”), which has been extended to August 31, 2020. Under the Transition Services Agreement, iHM Management Services provides, or causes any member of the iHeart Group to provide, the Company with certain administrative and support services and other assistance. For the period from May 1, 2019 through June 30, 2019, the Company recorded $2.8 million as a component of corporate expenses for fees under the Transition Services Agreement. For the three and six months ended June 30, 2020, the Company recorded $1.0 million and $2.7 million, respectively, as a component of corporate expenses for fees under the Transition Services Agreement. Additionally, in accordance with the Master Agreement with iHeartCommunications, the Company allows iHeartCommunications to use, without charge, Americas’ displays that the Company believes would otherwise be unsold. This arrangement will continue throughout the term of the Transition Services Agreement. The value of services provided under this arrangement was $4.2 million and $1.3 million during the three months ended June 30, 2020 and 2019, respectively, and $6.6 million and $3.7 million for the six months ended June 30, 2020 and 2019, respectively.

NET LOSS PER SHARE

NET LOSS PER SHARE	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE The following table presents the computation of net loss per share for the three and six months ended June 30, 2020 and 2019: (In thousands, except per share data) Three Months Ended Six Months Ended 2020 2019 2020 2019 Numerator: Net loss attributable to the Company – common shares $ (137,198) $ (10,939) $ (414,689) $ (175,106) Denominator: Weighted average common shares outstanding – basic 464,474 362,409 463,970 362,225 Weighted average common shares outstanding – diluted 464,474 362,409 463,970 362,225 Net loss attributable to the Company per share of common stock: Basic $ (0.30) $ (0.03) $ (0.89) $ (0.48) Diluted $ (0.30) $ (0.03) $ (0.89) $ (0.48) Outstanding equity awards with respect to 12.4 million shares and 8.4 million shares for the three months ended June 30, 2020 and 2019, respectively, and 12.9 million and 8.3 million for the six months ended June 30, 2020 and 2019, respectively, were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive.

OTHER INFORMATION

OTHER INFORMATION	6 Months Ended
	Jun. 30, 2020
Other Income and Expenses [Abstract]
OTHER INFORMATION	OTHER INFORMATION Other Comprehensive Income (Loss) There were no changes in deferred income tax liabilities resulting from adjustments to comprehensive loss during the three and six months ended June 30, 2020. The total increase in other comprehensive income related to the impact of pensions on deferred income tax liabilities was $0.6 million for the three and six months ended June 30, 2019. Shareholder Rights Plan On May 19, 2020, the Board of Directors adopted a shareholder rights plan to protect the interests of all Company shareholders. Pursuant to the rights plan, one right is issued for each share of common stock as of the close of business on May 29, 2020. The rights will generally become exercisable only if any person or group acquires 10% or more of the Company's common stock. The plan has a 360-day term, expiring on May 14, 2021. Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the total of the amounts reported in the Consolidated Statement of Cash Flows: (In thousands) June 30, December 31, Cash and cash equivalents in the Balance Sheets $ 662,088 $ 398,858 Restricted cash included in: Other current assets 647 4,116 Other assets 10,615 14,101 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 673,350 $ 417,075

DISPOSITION

DISPOSITION	6 Months Ended
	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISPOSITION	DispositionAs previously disclosed in the Quarterly Report on Form 10-Q filed on May 6, 2020, on April 28, 2020, the Company tendered its 50.91% stake in Clear Media pursuant to a voluntary conditional cash offer made by and on behalf of Ever Harmonic Global Limited. On May 14, 2020, the Company received $253.1 million in cash proceeds from the sale of its shares in Clear Media,,and the Clear Media disposition is now complete. The Company recognized a gain on the sale of Clear Media of $75.2 million, recorded within "Other operating income (expense), net" on the Consolidated Statement of Comprehensive Loss, for the three and six months ended June 30, 2020.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Preparation of Interim Financial Statements	Preparation of Interim Financial Statements The consolidated financial statements include the accounts of Clear Channel Outdoor Holdings, Inc. and its subsidiaries, as well as entities for which the Company has a controlling financial interest or is the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation. All references in this Quarterly Report on Form 10-Q to the “Company,” “we,” “us” and “our” refer to Clear Channel Outdoor Holdings, Inc. and its consolidated subsidiaries. The accompanying consolidated financial statements were prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all normal and recurring adjustments necessary to present fairly the results of the interim periods shown. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. Management believes that the disclosures made are adequate to make the information presented not misleading. Due to seasonality and other factors, the results for the interim periods may not be indicative of results for the full year. The financial statements contained herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s 2019 Annual Report on Form 10-K, filed on February 27, 2020. Prior to the Company's separation from iHeartMedia, Inc. ("iHeartMedia") and iHeartCommunications, Inc. ("iHeartCommunications") on May 1, 2019 (the "Separation"), the historical financial statements of the Company consisted of the carve-out financial statements of the outdoor businesses of Clear Channel Holdings, Inc. ("CCH"), Clear Channel Outdoor Holdings, Inc. ("CCOH") and its subsidiaries (the "Outdoor Business") and gave effect to allocations of expenses from iHeartMedia to the Company. The carve-out financial statements excluded the portion of the radio businesses previously owned by CCH, which had historically been reported as part of iHeartMedia’s iHM segment prior to the Separation, and amounts attributable to CCH, which was a holding company prior to the Separation with no independent assets or operations. Upon the Separation and the transactions related thereto, the Company’s only assets, liabilities and operations were those of the Outdoor Business. Certain prior period amounts have been reclassified to conform to the 2020 presentation.
New Accounting Pronouncements Recently and Not Yet Adopted	New Accounting Pronouncements Recently Adopted As of January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Measurement of Credit Losses on Financial Instruments, which changed the methodology used to recognize impairment of the Company’s accounts receivable. Under the ASU, financial assets are presented at the net amount expected to be collected, requiring immediate recognition of estimated credit losses expected to occur over the asset's remaining life. This is in contrast to previous GAAP, under which credit losses were not recognized until it was probable that a loss had been incurred. The Company adopted the ASU on a modified-retrospective basis through a cumulative-effect adjustment to retained earnings as of January 1, 2020, resulting in a decrease to equity of $7.2 million. This adjustment includes $5.4 million related to Clear Media Limited ("Clear Media"), a former indirect, non-wholly owned subsidiary of the Company based in China that was sold on April 28, 2020. The Company performed its expected credit loss calculation separately by segment based on historical accounts receivable write-offs. New Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by removing certain existing exceptions to the general principles in Topic 740. The new guidance is effective for annual and interim periods beginning after December 2020, and early adoption is permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

SEGMENT DATA (Tables)

SEGMENT DATA (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Reportable Segment Results	The following tables present the Company's reportable segment results for the three and six months ended June 30, 2020 and 2019. The Company has restated the segment information for prior periods to conform to the 2020 presentation. (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Revenue Americas $ 199,700 $ 327,142 $ 495,487 $ 599,864 Europe 107,346 290,437 319,036 534,332 Other 7,860 80,436 51,192 150,935 Total $ 314,906 $ 698,015 $ 865,715 $ 1,285,131 Capital Expenditures Americas $ 8,405 $ 15,930 $ 31,896 $ 27,338 Europe 9,327 22,491 19,422 34,425 Other 2,043 6,174 8,385 9,059 Corporate 3,620 6,513 7,260 8,459 Total $ 23,395 $ 51,108 $ 66,963 $ 79,281 Segment Adjusted EBITDA Americas $ 47,019 $ 136,747 $ 154,977 227,876 Europe (68,819) 46,536 (82,930) 63,017 Other (15,255) 20,141 (30,442) 31,361 Total $ (37,055) $ 203,424 $ 41,605 $ 322,254 Reconciliation of Segment Adjusted EBITDA to Consolidated Net Loss Before Income Taxes Segment Adjusted EBITDA $ (37,055) $ 203,424 $ 41,605 $ 322,254 Less reconciling items: Corporate expenses (1) 32,665 38,907 69,003 67,521 Depreciation and amortization 66,192 80,174 141,945 155,250 Impairment charges — — 123,137 — Restructuring and other costs 2,280 3,159 4,104 5,666 Other operating (income) expense, net (69,600) (1,270) (63,579) 2,252 Interest expense, net 88,742 107,971 178,884 222,834 Other charges (2) 4,490 14,981 23,379 21,020 Consolidated net loss before income taxes $ (161,824) $ (40,498) $ (435,268) $ (152,289) (1) Corporate expenses include expenses related to 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. (2) Other charges includes loss on due from iHeartCommunications, loss on extinguishment of debt and other expense, net.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The following table shows revenue from contracts with customers, revenue from leases and total revenue, disaggregated by geographical region, for the three and six months ended June 30, 2020 and 2019: (In thousands) Revenue from contracts with customers Revenue from leases Total Revenue Three Months Ended June 30, 2020 Americas $ 89,903 $ 109,797 $ 199,700 Europe 90,985 16,361 107,346 Other (1) 7,413 447 7,860 Total $ 188,301 $ 126,605 $ 314,906 Three Months Ended June 30, 2019 Americas $ 182,526 $ 144,616 $ 327,142 Europe 255,024 35,413 290,437 Other (1) 74,479 5,957 80,436 Total $ 512,029 $ 185,986 $ 698,015 Six Months Ended June 30, 2020 Americas $ 253,181 $ 242,306 $ 495,487 Europe 278,175 40,861 319,036 Other (1) 46,689 4,503 51,192 Total $ 578,045 $ 287,670 $ 865,715 Six Months Ended June 30, 2019 Americas $ 314,853 $ 285,011 $ 599,864 Europe 458,885 75,447 534,332 Other (1) 138,699 12,236 150,935 Total $ 912,437 $ 372,694 $ 1,285,131 (1) Other includes the Company's businesses in China and Latin America.
Summary of Contract with Customer, Asset and Liability	The following tables show the Company’s beginning and ending accounts receivable and deferred revenue balances from contracts with customers: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2020 2019 2020 2019 Accounts receivable, net of allowance, from contracts with customers: Beginning balance $ 375,509 $ 418,916 $ 581,555 $ 367,918 Ending balance $ 239,957 $ 509,129 $ 239,957 $ 509,129 Deferred revenue from contracts with customers: Beginning balance $ 57,022 $ 57,073 $ 52,589 $ 39,916 Ending balance $ 47,760 $ 55,164 $ 47,760 $ 55,164

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Outstanding	Long-term debt outstanding as of June 30, 2020 and December 31, 2019 consisted of the following: (In thousands) June 30, December 31, Term Loan Facility (1) $ 1,985,000 $ 1,995,000 Revolving Credit Facility (2) 150,000 — Receivables-Based Credit Facility — — Clear Channel Outdoor Holdings 5.125% Senior Secured Notes Due 2027 1,250,000 1,250,000 Clear Channel Worldwide Holdings 9.25% Senior Notes Due 2024 (3) 1,901,525 1,901,525 Clear Channel International, B.V. Promissory Note Due 2022 (4) 54,265 — Other debt 5,398 4,161 Original issue discount (13,612) (9,561) Long-term debt fees (54,773) (57,107) Total debt $ 5,277,803 $ 5,084,018 Less: Current portion 20,665 20,294 Total long-term debt $ 5,257,138 $ 5,063,724 (1) In March and June 2020, the Company paid $5.0 million each, for a total of $10.0 million, of the outstanding principal on the term loan facility ("Term Loan Facility") in accordance with the terms of the senior secured credit agreement ("Senior Secured Credit Agreement") governing the senior secured credit facilities (the "Senior Secured Credit Facilities," which consist of the Term Loan Facility and the revolving credit facility (the "Revolving Credit Facility")). (2) On March 24 2020, the Company borrowed $150.0 million under its Revolving Credit Facility. The Revolving Credit Facility matures on August 23, 2024. (3) On February 28, 2020, the Company and the guarantors under the Indenture (the "CCWH Senior Notes Indenture") governing the 9.25% Senior Notes due 2024 (the "CCWH Senior Notes") filed a registration statement with the SEC to register the offer to exchange the CCWH Senior Notes and the guarantees thereof for a like principal amount of CCWH Senior Notes and guarantees thereof that have been registered under the Securities Act, in accordance with the deadlines set forth in the Registration Rights Agreement. The registration statement, as amended on April 6, 2020, became effective on April 7, 2020. (4) On May 15, 2020, a subsidiary of the Company issued a promissory note in the principal amount of approximately $53.0 million due May 15, 2022 ("the CCIBV Note"). The note bears interest at a rate of 14.00% per annum if paid in cash or 16.00% if paid-in-kind, to be paid quarterly. The CCIBV Note was subsequently transferred to a third party in exchange for the Company's Series A Perpetual Preferred Stock (par value of $0.01 and an aggregate liquidation preference of approximately $47 million) (the "preferred stock"). As discussed in further detail below, while the CCIBV Note was retired on August 4, 2020 concurrent with the issuance of new Clear Channel International B.V. notes, the preferred stock remains outstanding and held by the subsidiary and is eliminated in consolidation.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Benefit (Expense)	The Company’s income tax benefit (expense) for the three and six months ended June 30, 2020 and 2019 consisted of the following components: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Current tax benefit (expense) $ (19,764) $ 27,907 $ (17,800) $ (43,813) Deferred tax benefit 38,985 1,186 21,242 15,143 Income tax benefit (expense) $ 19,221 $ 29,093 $ 3,442 $ (28,670)

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The Company’s property, plant and equipment consisted of the following classes of assets as of June 30, 2020 and December 31, 2019: (In thousands) June 30, December 31, Structures $ 2,305,539 $ 2,832,797 Furniture and other equipment 224,007 234,183 Land, buildings and improvements 150,061 149,889 Construction in progress 48,101 84,289 2,727,708 3,301,158 Less: Accumulated depreciation 1,806,521 2,090,004 Property, plant and equipment, net $ 921,187 $ 1,211,154

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following table presents the gross carrying amount and accumulated amortization for each major class of intangible assets as of June 30, 2020 and December 31, 2019: (In thousands) June 30, 2020 December 31, 2019 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Indefinite-lived permits $ 843,846 $ — $ 965,863 $ — Transit, street furniture and other outdoor 440,449 (374,736) 535,912 (451,021) Permanent easements 163,301 — 163,399 — Trademarks 83,569 (10,064) 83,569 (5,898) Other 1,836 (1,478) 5,352 (4,648) Total intangible assets $ 1,533,001 $ (386,278) $ 1,754,095 $ (461,567)
Schedule of Goodwill	The following table presents changes in the goodwill balance for the Company's segments during the six months ended June 30, 2020: (In thousands) Americas Europe Other Consolidated December 31, 2019 (1) $ 507,819 $ 185,641 $ 10,698 $ 704,158 Foreign currency — (576) (1,125) (1,701) Balance as of June 30, 2020 $ 507,819 $ 185,065 $ 9,573 $ 702,457 (1) The balance at December 31, 2019 is net of cumulative impairments of $2.6 billion, $191.4 million and $80.7 million for Americas, Europe and Other, respectively.

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Computation of Earnings Per Share	The following table presents the computation of net loss per share for the three and six months ended June 30, 2020 and 2019: (In thousands, except per share data) Three Months Ended Six Months Ended 2020 2019 2020 2019 Numerator: Net loss attributable to the Company – common shares $ (137,198) $ (10,939) $ (414,689) $ (175,106) Denominator: Weighted average common shares outstanding – basic 464,474 362,409 463,970 362,225 Weighted average common shares outstanding – diluted 464,474 362,409 463,970 362,225 Net loss attributable to the Company per share of common stock: Basic $ (0.30) $ (0.03) $ (0.89) $ (0.48) Diluted $ (0.30) $ (0.03) $ (0.89) $ (0.48)

OTHER INFORMATION (Tables)

OTHER INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2020
Other Income and Expenses [Abstract]
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets to the total of the amounts reported in the Consolidated Statement of Cash Flows: (In thousands) June 30, December 31, Cash and cash equivalents in the Balance Sheets $ 662,088 $ 398,858 Restricted cash included in: Other current assets 647 4,116 Other assets 10,615 14,101 Total cash, cash equivalents and restricted cash in the Statement of Cash Flows $ 673,350 $ 417,075

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reportable segments | segment		2
COVID-19, negotiated rent abatements	$ 29,400
Cumulative effect from adoption	2,607,855	$ 2,607,855	$ 2,363,543	$ 2,054,706	$ 2,214,925	$ 2,255,830	$ 2,101,652
Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption				7,181			(14,613)
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption	$ 5,771,481	$ 5,771,481	$ 5,634,283	5,349,611	$ 5,161,413	$ 5,150,474	5,000,920
Accumulated Deficit | Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption				7,181			$ (14,613)
Disposal Group, Held-for-sale, Not Discontinued Operations | Clear Media Limited | Accumulated Deficit | Cumulative Effect, Period Of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption				$ (5,400)

SEGMENT DATA (Details)

SEGMENT DATA (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment				2
Segment Reporting Information [Line Items]
Revenue	$ 314,906		$ 698,015	$ 865,715	$ 1,285,131
Capital Expenditures	23,395		51,108	66,963	79,281
Segment Adjusted EBITDA	(37,055)		203,424	41,605	322,254
Corporate expenses	32,665		38,907	69,003	67,521
Depreciation and amortization	66,192		80,174	141,945	155,250
Impairment charges	0	$ 123,100	0	123,137	0
Restructuring and other costs	2,280		3,159	4,104	5,666
Other operating (income) expense, net	(69,600)		(1,270)	(63,579)	2,252
Interest expense, net	88,742		107,971	178,884	222,834
Other charges	4,490		14,981	23,379	21,020
Consolidated net loss before income taxes	(161,824)		(40,498)	(435,268)	(152,289)
Operating segments
Segment Reporting Information [Line Items]
Revenue	314,906		698,015	865,715	1,285,131
Segment Adjusted EBITDA	(37,055)		203,424	41,605	322,254
Operating segments | Americas
Segment Reporting Information [Line Items]
Revenue	199,700		327,142	495,487	599,864
Capital Expenditures	8,405		15,930	31,896	27,338
Segment Adjusted EBITDA	47,019		136,747	154,977	227,876
Operating segments | Europe
Segment Reporting Information [Line Items]
Revenue	107,346		290,437	319,036	534,332
Capital Expenditures	9,327		22,491	19,422	34,425
Segment Adjusted EBITDA	(68,819)		46,536	(82,930)	63,017
Operating segments | Other
Segment Reporting Information [Line Items]
Revenue	7,860		80,436	51,192	150,935
Capital Expenditures	2,043		6,174	8,385	9,059
Segment Adjusted EBITDA	(15,255)		20,141	(30,442)	31,361
Corporate and other reconciling items
Segment Reporting Information [Line Items]
Capital Expenditures	3,620		6,513	7,260	8,459
Corporate expenses	$ 32,665		$ 38,907	$ 69,003	$ 67,521

REVENUE - Revenue by Segment an

REVENUE - Revenue by Segment and Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from contracts with customers	$ 188,301	$ 512,029	$ 578,045	$ 912,437
Revenue from leases	126,605	185,986	287,670	372,694
Revenue	314,906	698,015	865,715	1,285,131
Americas
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from contracts with customers	89,903	182,526	253,181	314,853
Revenue from leases	109,797	144,616	242,306	285,011
Revenue	199,700	327,142	495,487	599,864
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from contracts with customers	90,985	255,024	278,175	458,885
Revenue from leases	16,361	35,413	40,861	75,447
Revenue	107,346	290,437	319,036	534,332
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue from contracts with customers	7,413	74,479	46,689	138,699
Revenue from leases	447	5,957	4,503	12,236
Revenue	$ 7,860	$ 80,436	$ 51,192	$ 150,935

REVENUE - Schedule of Contract

REVENUE - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019
Accounts receivable, net of allowance, from contracts with customers:
Beginning balance	$ 375,509	$ 581,555	$ 509,129	$ 418,916	$ 367,918
Ending balance	239,957	375,509	581,555	509,129	418,916
Deferred revenue from contracts with customers:
Beginning balance	57,022	52,589	55,164	57,073	39,916
Ending balance	$ 47,760	$ 57,022	$ 52,589	$ 55,164	$ 57,073

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Contract liabilities, revenue recognized	$ 20.3	$ 38.2	$ 44.5	$ 32.3
Revenue, remaining performance obligation	101.5		101.5
Bad debt expense	$ 8.2	$ 2.6	$ 11.9	$ 4.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, period	5 years		5 years

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long-Term Debt Outstanding (Details) - USD ($)	Mar. 24, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	May 15, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total debt		$ 5,277,803,000		$ 5,277,803,000			$ 5,084,018,000
Original issue discount		(13,612,000)		(13,612,000)			(9,561,000)
Long-term debt fees		(54,773,000)		(54,773,000)			(57,107,000)
Less: Current portion		20,665,000		20,665,000			20,294,000
Total long-term debt		5,257,138,000		5,257,138,000			5,063,724,000
Draws on credit facilities				150,000,000	$ 0
Series A Preferred Stock
Debt Instrument [Line Items]
Preferred stock, par value (in dollars per share)						$ 0.01
Preferred stock, liquidation preference						$ 47,000,000
New Revolving Credit Facility
Debt Instrument [Line Items]
Total debt		150,000,000		150,000,000			0
Draws on credit facilities	$ 150,000,000
New Receivables-Based Credit Facility
Debt Instrument [Line Items]
Total debt		0		0			0
Clear Channel International, B.V. Promissory Note Due 2022
Debt Instrument [Line Items]
Total debt		54,265,000		54,265,000			0
Clear Channel International, B.V. Promissory Note Due 2022 | Subsidiary
Debt Instrument [Line Items]
Note issued, interest rate, paid in cash (as a percent)						14.00%
Note issued, interest rate, paid in kind (as a percent)						16.00%
Secured Debt | New term loan facility
Debt Instrument [Line Items]
Total debt		1,985,000,000		1,985,000,000			1,995,000,000
Payments of debt		5,000,000	$ 5,000,000	10,000,000
Secured Debt | CCOH Senior Secured Notes
Debt Instrument [Line Items]
Total debt		$ 1,250,000,000		$ 1,250,000,000			1,250,000,000
Stated interest rate (as a percent)		5.125%		5.125%
Senior Notes | Clear Channel Worldwide Holdings Senior Notes Due 2024
Debt Instrument [Line Items]
Total debt		$ 1,901,525,000		$ 1,901,525,000			1,901,525,000
Stated interest rate (as a percent)		9.25%		9.25%
Unsecured Debt | Other debt
Debt Instrument [Line Items]
Total debt		$ 5,398,000		$ 5,398,000			$ 4,161,000
Promissory Note | Clear Channel International, B.V. Promissory Note Due 2022 | Subsidiary
Debt Instrument [Line Items]
Principal amount of note						$ 53,000,000

LONG-TERM DEBT - Narrative (Det

LONG-TERM DEBT - Narrative (Details) - USD ($)	Aug. 04, 2020	Jun. 30, 2020	Dec. 31, 2019
Guarantor Obligations [Line Items]
Required minimum cash on hand and availability under lines of credit		$ 150,000,000
Surety bonds
Guarantor Obligations [Line Items]
Guarantee obligations		112,200,000
Bank Guarantees
Guarantor Obligations [Line Items]
Guarantee obligations		32,600,000
Bank guarantees backed by cash collateral
Guarantor Obligations [Line Items]
Guarantee obligations		10,900,000
New Revolving Credit Facility
Guarantor Obligations [Line Items]
Letters of credit outstanding		20,200,000
Excess borrowing capacity		4,800,000
Line of Credit | Revolving Credit Facility | New Receivables-Based Credit Facility
Guarantor Obligations [Line Items]
Letters of credit outstanding		63,300,000
Excess borrowing capacity		15,700,000
Maximum borrowing capacity		125,000,000
Secured Debt | Clear Channel International Senior Secured Notes due 2025 | Subsidiary | Subsequent Event
Guarantor Obligations [Line Items]
Aggregate principal amount	$ 375,000,000
Stated interest rate (as a percent)	6.625%
Level 1
Guarantor Obligations [Line Items]
Aggregate market value of debt		$ 5,000,000,000	$ 5,400,000,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)employee	Mar. 30, 2020	Dec. 31, 2019USD ($)	Dec. 31, 2017USD ($)
Income Tax Examination [Line Items]
Number of employees convicted | employee		2
Decrease in other long term liabilities from misstatement	$ (182,512)	$ (182,512)		$ (183,025)
Payment of income tax penalties and interest		8,100
VAT recoverable		$ 1,700
Ministry of Economic Affairs and Finance, Italy
Income Tax Examination [Line Items]
Estimated loss from Italy investigation	$ 20,400
VAT Obligation
Income Tax Examination [Line Items]
Decrease in other long term liabilities from misstatement					$ 16,900
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Clear Media Limited
Income Tax Examination [Line Items]
Ownership percentage sold			50.91%

INCOME TAXES - Schedule of Comp

INCOME TAXES - Schedule of Components of Income Tax Benefit (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Current tax benefit (expense)	$ (19,764)	$ 27,907	$ (17,800)	$ (43,813)
Deferred tax benefit	38,985	1,186	21,242	15,143
Income tax benefit (expense)	$ 19,221	$ 29,093	$ 3,442	$ (28,670)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 30, 2020
Operating Loss Carryforwards [Line Items]
Effective tax rate	11.90%	71.80%	0.80%	(18.80%)
Tax effect from sale of business, total expense			$ 57.8
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations | Clear Media Limited
Operating Loss Carryforwards [Line Items]
Ownership percentage sold					50.91%

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Schedule Of Property, Plant And Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,727,708	$ 3,301,158
Less: Accumulated depreciation	1,806,521	2,090,004
Property, plant and equipment, net	921,187	1,211,154
Structures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,305,539	2,832,797
Furniture and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	224,007	234,183
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	150,061	149,889
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 48,101	$ 84,289

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived permits	$ 843,846			$ 843,846		$ 965,863
Gross Carrying Amount	1,533,001			1,533,001		1,754,095
Accumulated Amortization	(386,278)			(386,278)		(461,567)
Impairment of indefinite-lived permits	0	$ 123,100	$ 0	123,137	$ 0
Transit, street furniture and other outdoor    contractual rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	440,449			440,449		535,912
Accumulated Amortization	(374,736)			(374,736)		(451,021)
Permanent easements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	163,301			163,301		163,399
Accumulated Amortization	0			0		0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	83,569			83,569		83,569
Accumulated Amortization	(10,064)			(10,064)		(5,898)
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,836			1,836		5,352
Accumulated Amortization	$ (1,478)			$ (1,478)		$ (4,648)

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Schedule of Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Goodwill [Line Items]
Beginning balance	$ 704,158
Foreign currency	(1,701)
Ending balance	702,457	$ 704,158
Americas
Goodwill [Line Items]
Beginning balance	507,819
Foreign currency	0
Ending balance	507,819	507,819
Goodwill, cumulative impairment		2,600,000
Europe
Goodwill [Line Items]
Beginning balance	185,641
Foreign currency	(576)
Ending balance	185,065	185,641
Goodwill, cumulative impairment		191,400
Other
Goodwill [Line Items]
Beginning balance	10,698
Foreign currency	(1,125)
Ending balance	$ 9,573	10,698
Goodwill, cumulative impairment		$ 80,700

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
	Apr. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Apr. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Component of corporate expenses			$ 32,665	$ 38,907		$ 69,003	$ 67,521
iHeartCommunications
Related Party Transaction [Line Items]
Revenue from related parties			4,200	$ 1,300		6,600	$ 3,700
iHeartCommunications | Corporate Services Agreement
Related Party Transaction [Line Items]
Component of corporate expenses	$ 2,800				$ 10,200
iHeartCommunications | Transition Services Agreement
Related Party Transaction [Line Items]
Component of corporate expenses		$ 2,800	$ 1,000			$ 2,700

NET LOSS PER SHARE - Computatio

NET LOSS PER SHARE - Computation of Loss per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net loss attributable to the Company – common shares	$ (137,198)	$ (10,939)	$ (414,689)	$ (175,106)
Denominator:
Weighted average common shares outstanding - basic (in shares)	464,474	362,409	463,970	362,225
Weighted average common shares outstanding - diluted (in shares)	464,474	362,409	463,970	362,225
Net loss attributable to the Company per share of common stock:
Basic (in dollars per share)	$ (0.30)	$ (0.03)	$ (0.89)	$ (0.48)
Diluted (in dollars per share)	$ (0.30)	$ (0.03)	$ (0.89)	$ (0.48)
Outstanding equity awards not included in computation of diluted earnings per share (in shares)	12,400	8,400	12,900	8,300

OTHER INFORMATION - Narrative (

OTHER INFORMATION - Narrative (Details)	May 19, 2020employee	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Other Income and Expenses [Abstract]
Increase (decrease) of pensions on deferred income tax liabilities | $		$ 0	$ 600,000	$ 0	$ 600,000
Mandatorily Redeemable Preferred Stock
Financial Instruments Subject to Mandatory Redemption by Settlement Terms [Line Items]
Number of rights issued per share | employee	1
Percentage of common stock acquired for rights to be exercisable (as a percent)	10.00%
Shareholder rights plan, term (in days)	360 days

OTHER INFORMATION - Schedule of

OTHER INFORMATION - Schedule of Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
Cash and cash equivalents	$ 662,088	$ 398,858
Restricted cash included in:
Other current assets	647	4,116
Other assets	10,615	14,101
Total cash, cash equivalents and restricted cash in the Statement of Cash Flows	$ 673,350	$ 417,075	$ 389,804	$ 202,869

DISPOSITION (Details)

DISPOSITION (Details) - Clear Media Limited - Disposal Group, Disposed of by Sale, Not Discontinued Operations - USD ($) $ in Millions	May 14, 2020	Jun. 30, 2020	Apr. 28, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage sold			50.91%
Proceeds from sale Clear Media	$ 253.1
Gain on sale of Clear Media		$ 75.2