Exhibit 99.2
CLEAR CHANNEL INTERNATIONAL B.V. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(UNAUDITED)
(In thousands) | Three Months Ended March 31, | ||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||
Revenue | $ | 242,398 | $ | 217,072 | |||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Direct operating expenses(1) | 191,899 | 178,959 | |||||||||||||||||||||
Selling, general and administrative expenses(1) | 54,996 | 51,957 | |||||||||||||||||||||
Corporate expenses(1) | 11,056 | 12,556 | |||||||||||||||||||||
Depreciation and amortization | 18,458 | 19,444 | |||||||||||||||||||||
Other operating expense (income), net(2) | (99,702) | 1,779 | |||||||||||||||||||||
Operating income (loss) | 65,691 | (47,623) | |||||||||||||||||||||
Interest expense, net | (11,573) | (10,021) | |||||||||||||||||||||
Other income (expense), net | 10,636 | (11,810) | |||||||||||||||||||||
Income (loss) before income taxes | 64,754 | (69,454) | |||||||||||||||||||||
Income tax benefit (expense) | (42) | 3,088 | |||||||||||||||||||||
Consolidated net income (loss) | 64,712 | (66,366) | |||||||||||||||||||||
Less amount attributable to noncontrolling interest | 23 | — | |||||||||||||||||||||
Net income (loss) attributable to the Company | $ | 64,689 | $ | (66,366) |
(1)Excludes depreciation and amortization.
(2)Other operating income, net, for the three months ended March 31, 2023 includes a gain of $96.4 million from sale of the business in Switzerland.