Outfront Media (OUT) 10-Q 4 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2017	May 03, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	OUTFRONT Media Inc.
Entity Central Index Key	1,579,877
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		138,587,346

Consolidated Statement of Finan

Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Assets, Current [Abstract]
Cash and cash equivalents	$ 26.3	$ 65.2
Receivables, less allowance ($9.2 in 2017 and $9.2 in 2016)	181.9	222
Prepaid lease and transit franchise costs	74.1	67.4
Other prepaid expenses	18.1	15.8
Other current assets	11.1	7.8
Total current assets	311.5	378.2
Assets, Noncurrent [Abstract]
Property and equipment, net	658.4	665
Goodwill	2,089.7	2,089.4
Intangible assets	534.8	545.3
Other assets	62.1	60.6
Total assets	3,656.5	3,738.5
Liabilities, Current [Abstract]
Accounts payable	50.5	85.6
Accrued compensation	17.1	33.9
Accrued interest	23.7	15.7
Accrued lease costs	21.3	26.7
Other accrued expenses	49	54.8
Deferred revenues	33.1	20.2
Other current liabilities	16	14.6
Total current liabilities	210.7	251.5
Liabilities, Noncurrent [Abstract]
Long-term debt, net	2,142.5	2,136.8
Deferred income tax liabilities, net	6.7	8.5
Asset retirement obligation	34.6	34.1
Other liabilities	76.7	74.6
Total liabilities	2,471.2	2,505.5
Commitments and Contingencies
Stockholders’ equity:
Common stock (2017 - 450.0 shares authorized, and 138.6 shares issued and outstanding; 2016 - 450.0 shares authorized, and 138.0 issued and outstanding)	1.4	1.4
Additional paid-in capital	1,948.6	1,949.5
Distribution in excess of earnings	(747.4)	(699.5)
Accumulated other comprehensive loss	(17.4)	(18.5)
Total stockholders' equity	1,185.2	1,232.9
Non-controlling interests	0.1	0.1
Total equity	1,185.3	1,233
Total liabilities and equity	$ 3,656.5	$ 3,738.5

Consolidated Statement of Fina3

Consolidated Statement of Financial Position (Parenthetical) (Unaudited) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for receivables	$ 9.2	$ 9.2
Common Stock, Shares Authorized	450,000,000	450,000,000
Common Stock, Shares Issued	138,575,870	138,044,896
Common Stock, Shares Outstanding	138,575,870	138,044,896

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues [Abstract]
Billboard	$ 236	$ 250.4
Transit and other	94.6	98
Total revenues	330.6	348.4
Expenses:
Operating	191.9	199.8
Selling, general and administrative	63.9	65.3
Restructuring charges	1.8	0
Loss on real estate assets held for sale	0	1.3
Net loss on dispositions	0.4	0.4
Depreciation	22.9	29.1
Amortization	23.7	28.3
Total expenses	304.6	324.2
Operating income	26	24.2
Interest expense, net	(28.1)	(28.6)
Other expense, net	0	(0.2)
Loss before benefit for income taxes and equity in earnings of investee companies	(2.1)	(4.6)
Benefit for income taxes	3.7	1.3
Equity in earnings of investee companies, net of tax	0.9	1
Net income (loss)	$ 2.5	$ (2.3)
Net income (loss) per common share:
Basic (in dollars per share)	$ 0.02	$ (0.02)
Diluted (in dollars per share)	$ 0.02	$ (0.02)
Weighted average shares outstanding:
Basic (in shares)	138.3	137.6
Diluted (in shares)	138.9	137.6
Dividends declared per common share (in dollars per share)	$ 0.36	$ 0.34

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2.5	$ (2.3)
Other comprehensive income, net of tax:
Cumulative translation adjustments	1.1	6.5
Net actuarial loss	0	(0.5)
Total other comprehensive income, net of tax	1.1	6
Total comprehensive income	$ 3.6	$ 3.7

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Distribution in Excess of Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity	$ 1,212.6
Non-controlling interests						$ 0
Total equity, Beginning Balance at Dec. 31, 2015	1,212.6	$ 1.4	$ 1,934.3	$ (602.2)	$ (120.9)
Shares of Common Stock at Dec. 31, 2015		137,600,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2.3)			(2.3)
Net Income (Loss) Attributable to Noncontrolling Interest						0
Other comprehensive income (loss)	6				6
Other Comprehensive Income (Loss), Net of Tax	6
Stock-based payments: Vested (shares)		500,000
Stock-based payments: Amortization	4.8		4.8
Shares paid for tax withholding for stock-based payments (shares)		(200,000)
Shares paid for tax withholding for stock-based payments	(4.1)		(4.1)
Dividends	(46.8)			(46.8)
Other						0
Shares of Common Stock at Mar. 31, 2016		137,900,000
Total equity, Ending Balance at Mar. 31, 2016	1,170.2	$ 1.4	1,935	(651.3)	(114.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity	1,170.2
Non-controlling interests						0
Total stockholders' equity	1,232.9
Non-controlling interests	0.1					0.1
Total equity, Beginning Balance at Dec. 31, 2016	$ 1,233	$ 1.4	1,949.5	(699.5)	(18.5)
Shares of Common Stock at Dec. 31, 2016	138,044,896	138,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 2.5			2.5
Net Income (Loss) Attributable to Noncontrolling Interest						0
Other comprehensive income (loss)	1.1				1.1
Other Comprehensive Income (Loss), Net of Tax	1.1
Stock-based payments: Vested (shares)		700,000
Stock-based payments: Amortization	5.4		5.4
Stock-based payments: Amortization | Adjustments for New Accounting Pronouncement	0		0.5	(0.5)
Share-based payments: Exercise of stock options (shares)	1.2		1.2
Share-based payments: Exercise of stock options		200,000
Shares paid for tax withholding for stock-based payments (shares)		(300,000)
Shares paid for tax withholding for stock-based payments	(8)		(8)
Dividends	$ (49.9)			(49.9)
Shares of Common Stock at Mar. 31, 2017	138,575,870	138,600,000
Total equity, Ending Balance at Mar. 31, 2017	$ 1,185.3	$ 1.4	$ 1,948.6	$ (747.4)	$ (17.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Total stockholders' equity	1,185.2
Non-controlling interests	$ 0.1					$ 0.1

Consolidated Statements of Equ7

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Common stock, par value per share	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Dividends declared per common share (in dollars per share)	$ 0.36	$ 0.34

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating Activities:
Net income (loss)	$ 2.5	$ (2.3)
Adjustments to reconcile net income (loss) to net cash flow provided by operating activities:
Depreciation and amortization	46.6	57.4
Deferred tax benefit	(1.8)	(0.5)
Stock-based compensation	5.4	4.8
Provision for doubtful accounts	0.1	0.8
Accretion expense	0.6	0.6
Loss on real estate assets held for sale	0	1.3
Net loss on dispositions	0.4	0.4
Equity in earnings of investee companies, net of tax	(0.9)	(1)
Distributions from investee companies	1.6	0
Amortization of deferred financing costs and debt discount and premium	1.9	1.4
Amortization of direct lease acquisition costs	(11.7)	(10.6)
Change in assets and liabilities, net of investing and financing activities	(12.5)	(18.5)
Net cash flow provided by (used for) operating activities	32.2	33.8
Investing Activities:
Capital expenditures	(16.6)	(14.4)
Acquisitions	(0.9)	(60.5)
Net proceeds from dispositions	0.1	0.3
Net cash flow provided by (used for) investing activities	(17.4)	(74.6)
Financing Activities:
Proceeds from long-term borrowings - term loan	8.3	0
Proceeds from borrowings under revolving credit facility	0	35
Deferred financing costs	(7)	(0.4)
Proceeds from stock option exercises	1.2	0
Taxes withheld for stock-based compensation	(6)	(5.1)
Dividends	(50.2)	(47.1)
Other	(0.2)	(0.2)
Net cash flow provided by (used for) financing activities	(53.9)	(17.8)
Effect of exchange rate changes on cash and cash equivalents	0.2	0.2
Net decrease in cash and cash equivalents	(38.9)	(58.4)
Cash and cash equivalents at beginning of period	65.2	101.6
Cash and cash equivalents at end of period	26.3	43.2
Supplemental disclosure of cash flow Information:
Cash paid for income taxes	0.6	2
Cash paid for interest	18.3	19.5
Non-cash investing and financing activities:
Accrued purchases of property and equipment	10.5	5.4
Taxes withheld for stock-based compensation	$ 0	$ 1.5

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business OUTFRONT Media Inc. (the “Company”) and its subsidiaries (collectively, “we,” “us” or “our”) is a real estate investment trust (“REIT”), which provides advertising space (“displays”) on out-of-home advertising structures and sites in the United States (the “U.S.”) and Canada. Our inventory consists of billboard displays, which are primarily located on the most heavily traveled highways and roadways in top Nielsen Designated Market Areas (“DMAs”), and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S. and Canada. We also have marketing and multimedia rights agreements with colleges, universities and other educational institutions, which entitle us to operate on-campus advertising displays, as well as manage marketing opportunities, media rights and experiential entertainment at sports events. In total, we have displays in all of the 25 largest markets in the U.S. and over 150 markets across the U.S. and Canada. We manage our operations through three operating segments—(1) U.S. Billboard and Transit, which is included in our U.S. Media reportable segment, (2) International and (3) Sports Marketing. On April 1, 2016, we sold all of our equity interests in certain of our subsidiaries (the “Disposition”), which held all of the assets of our outdoor advertising business in Latin America (see Note 9. Acquisitions and Dispositions : Dispositions to the Consolidated Financial Statements). The operating results of our outdoor advertising business in Latin America through April 1, 2016, are included in our Consolidated Financial Statements for the three months ended March 31, 2016. Basis of Presentation and Use of Estimates The accompanying unaudited consolidated financial statements have been prepared pursuant to the rules of the Securities and Exchange Commission (the “SEC”). In the opinion of our management, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair statement of our financial position, results of operations and cash flows for the periods presented. Certain reclassifications of prior year’s data have been made to conform to the current period’s presentation. These financial statements should be read in conjunction with the more detailed financial statements and notes thereto, included in our Annual Report on Form 10-K for the year ended December 31, 2016 , filed with the SEC on February 23, 2017 .

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	New Accounting Standards Adoption of New Accounting Standards Stock Compensation During the first quarter of 2017, we adopted the Financial Accounting Standards Board’s (the “FASB’s”) guidance that simplifies the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as the classification in the statement of cash flows. We have elected to account for forfeitures as they occur, which we adopted on a modified retrospective basis and resulted in an increase of $0.5 million to Additional paid in capital , offset by a decrease of $0.5 million to Distribution in excess of earnings on our Consolidated Statement of Financial Position and Consolidated Statement of Equity as of March 31, 2017. Business Combinations During the first quarter of 2017, we adopted the FASB’s guidance clarifying the definition of a business for acquisitions and dispositions. The guidance is being applied on a prospective basis. Adoption of this guidance did not have a material effect on our consolidated financial statements. Recent Pronouncements Goodwill In January 2017, the FASB issued guidance simplifying the test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance is to be applied on a prospective basis and is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted for interim and annual impairment tests performed on testing dates after January 1, 2017. We do not expect this guidance to have a material effect on our consolidated financial statements. Statement of Cash Flows In August 2016, the FASB issued guidance which clarifies presentation of certain cash receipts and cash payments in the Statement of Cash Flows. The guidance is to be applied on a retrospective basis and is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted and must be reflected as of the beginning of the fiscal year that includes the interim period. We are currently evaluating the impact of this guidance on our consolidated financial statements. Leases In February 2016, the FASB issued guidance addressing the recognition, measurement, presentation and disclosure of leases for both lessees and lessors. The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. Lessors will account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. This guidance is to be applied on a modified retrospective basis and is effective for interim and annual periods beginning after December 15, 2018. Early adoption is permitted for financial statements that have not been previously issued. As of December 31, 2016, we had approximately 22,600 lease agreements in the U.S. and approximately 3,200 lease agreements in Canada, the majority of which will be classified as operating leases under the new guidance. We are currently evaluating our lease contracts and planning for the implementation of this standard. This standard will require us to recognize a right-of-use asset and lease liability for the present value of minimum lease payments for operating leases with a term greater than 12 months and will have a significant impact on our consolidated financial statements. Our billboard lease revenues will continue to be recognized on a straight-line basis over their respective lease terms. Revenue from Contracts with Customers In May 2014 (updated in August 2015, March 2016, April 2016 and May 2016), the FASB issued principles-based guidance addressing revenue recognition issues. The guidance will be applied to all contracts with customers regardless of industry-specific or transaction-specific fact patterns. The guidance requires that the amount of revenue a company should recognize reflect the consideration it expects to be entitled to in exchange for goods and services. This guidance is to be applied retrospectively and is effective for interim and annual periods beginning after December 15, 2017. Our billboard lease revenues will be recognized under the new lease standard. The revenue recognition guidance will be primarily applicable to our multi-year transit advertising contracts with municipalities in the U.S. and Canada, and marketing and multimedia rights agreements with colleges, universities and other educational institutions. We are currently evaluating the impact of this guidance on our

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The table below presents the balances of major classes of assets and accumulated depreciation. As of (in millions) Estimated Useful Lives March 31, December 31, Land $ 90.8 $ 90.7 Buildings 20 to 40 years 48.6 48.2 Advertising structures 5 to 20 years 1,709.6 1,696.6 Furniture, equipment and other 3 to 10 years 90.8 88.5 Construction in progress 40.0 37.2 1,979.8 1,961.2 Less: accumulated depreciation 1,321.4 1,296.2 Property and equipment, net $ 658.4 $ 665.0 Depreciation expense was $22.9 million in the three months ended March 31, 2017 , and $29.1 million in the three months ended March 31, 2016

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets Our identifiable intangible assets primarily consist of acquired permits and leasehold agreements and franchise agreements which grant us the right to operate out-of-home structures in specified locations and the right to provide advertising space on railroad and municipal transit properties. Identifiable intangible assets are amortized on a straight-line basis over their estimated useful life, which is the respective life of the agreement that in some cases includes historical experience of renewals. Our identifiable intangible assets consist of the following: (in millions) Gross Accumulated Amortization Net As of March 31, 2017: Permits and leasehold agreements $ 1,042.0 $ (646.8 ) $ 395.2 Franchise agreements 452.1 (338.9 ) 113.2 Other intangible assets 45.4 (19.0 ) 26.4 Total intangible assets $ 1,539.5 $ (1,004.7 ) $ 534.8 As of December 31, 2016: Permits and leasehold agreements $ 1,038.0 $ (636.1 ) $ 401.9 Franchise agreements 451.6 (336.6 ) 115.0 Other intangible assets 45.4 (17.0 ) 28.4 Total intangible assets $ 1,535.0 $ (989.7 ) $ 545.3 All of our identifiable intangible assets, except goodwill, are subject to amortization. Amortization expense was $23.7 million in the three months ended March 31, 2017 , and $28.3 million in the three months ended March 31, 2016 , which includes the amortization of direct lease acquisition costs of $8.7 million in the three months ended March 31, 2017 , and $8.9 million in the three months ended March 31, 2016

Asset Retirement Obligation

Asset Retirement Obligation	3 Months Ended
	Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	Asset Retirement Obligation The following table sets forth the change in the asset retirement obligations associated with our advertising structures located on leased properties. The obligation is calculated based on the assumption that all of our advertising structures will be removed within the next 50 years. The estimated annual costs to dismantle and remove the structures upon the termination or non-renewal of our leases are consistent with our historical experience. (in millions) As of December 31, 2016 $ 34.1 Accretion expense 0.6 Additions 0.1 Liabilities settled (0.2 ) As of March 31, 2017 $ 34.6

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We have a 50% ownership interest in two joint ventures that operate transit shelters in the greater Los Angeles area and Vancouver, and three joint ventures which operate a total of 15 billboard displays in New York and Boston. All of these ventures are accounted for as equity investments. These investments totaled $21.0 million as of March 31, 2017 , and $21.7 million as of December 31, 2016 , and are included in Other assets on the Consolidated Statements of Financial Position. We provided sales and management services to these joint ventures and recorded management fees in Revenues on the Consolidated Statement of Operations of $1.5 million in the three months ended March 31, 2017 , and $1.7 million in the three months ended March 31, 2016

Debt

Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	Debt Long-term debt, net, consists of the following: As of (in millions, except percentages) March 31, December 31, Term loan $ 667.5 $ 659.0 Senior unsecured notes: 5.250% senior unsecured notes, due 2022 549.5 549.5 5.625% senior unsecured notes, due 2024 502.9 503.0 5.875% senior unsecured notes, due 2025 450.0 450.0 Total senior unsecured notes 1,502.4 1,502.5 Debt issuance costs (27.4 ) (24.7 ) Total long-term debt, net $ 2,142.5 $ 2,136.8 Weighted average cost of debt 4.8 % 4.8 % On March 16, 2017, the Company, along with its wholly owned subsidiaries, Outfront Media Capital LLC (“Finance LLC”) and Outfront Media Capital Corporation (together with Finance LLC, the “Borrowers”), and other guarantor subsidiaries party thereto, entered into an amendment (the “Amendment”) to its credit agreement and its related security agreement, each dated January 31, 2014 (together, and as amended, supplemented or otherwise modified, the “Credit Agreement”). The Amendment provides for (i) the extension of the maturity date of the Borrower’s existing revolving credit facility (the “Revolving Credit Facility”) from January 31, 2019, to March 16, 2022, (ii) the extension of the maturity date of the Borrower’s existing term loan (the “Term Loan”) from January 31, 2021, to March 16, 2024, (iii) an increase to the Revolving Credit Facility by $5.0 million to $430.0 million , (iv) the incurrence of a $10.0 million incremental term loan primarily to cover transaction fees and expenses, which increases the outstanding principal balance of the Term Loan to $670.0 million , and (v) revisions to certain provisions of the Credit Agreement to, among other things, lower the interest rate floor for all loans to 0.0% and update covenants for greater operational and financial flexibility to the Company (including incurrence of additional indebtedness), as well as include other ministerial changes to the Credit Agreement. The remaining terms of the Credit Agreement, as amended by the Amendment, are substantially the same as the terms under the existing Credit Agreement, including with respect to events of default and loan acceleration. Term Loan The interest rate on the Term Loan was 3.2% per annum as of March 31, 2017 . As of March 31, 2017 , a discount of $2.5 million on the Term Loan remains unamortized. The discount is being amortized through Interest expense, net , on the Consolidated Statement of Operations. Senior Unsecured Notes As of March 31, 2017 , a discount of $0.5 million on $150.0 million aggregate principal amount of the 5.250% Senior Unsecured Notes due 2022, remains unamortized. The discount is being amortized through Interest expense, net, on the Consolidated Statement of Operations. As of March 31, 2017 , a premium of $2.9 million on $100.0 million aggregate principal amount of the 5.625% Senior Unsecured Notes due 2024, remains unamortized. The premium is being amortized through Interest expense, net , on the Consolidated Statement of Operations. Revolving Credit Facility As of March 31, 2017 , there were no outstanding borrowings under the Revolving Credit Facility. On April 3, 2017 , we borrowed $15.0 million against the Revolving Credit Facility. The commitment fee based on the amount of unused commitments under the Revolving Credit Facility was $0.2 million in the three months ended March 31, 2017 , and $0.5 million in the three months ended March 31, 2016 . As of March 31, 2017 , we had issued letters of credit totaling approximately $31.7 million against the Revolving Credit Facility. Debt Covenants The Credit Agreement governing the Term Loan and the Revolving Credit Facility, and the indentures governing our senior unsecured notes contain customary affirmative and negative covenants, subject to certain exceptions, including but not limited to those that limit the Company’s and our subsidiaries’ abilities to (i) pay dividends on, repurchase or make distributions in respect to the Company’s or its wholly-owned subsidiary, Finance LLC’s capital stock or make other restricted payments other than dividends or distributions necessary for us to maintain our REIT status, subject to certain conditions, and (ii) enter into agreements restricting certain subsidiaries’ ability to pay dividends or make other intercompany transfers. The terms of the Credit Agreement require that, as long as any commitments remain outstanding under the Revolving Credit Facility, we maintain a Consolidated Net Secured Leverage Ratio, which is the ratio of (i) our consolidated secured debt (less up to $150.0 million of unrestricted cash) to (ii) our Consolidated EBITDA (as defined in the Credit Agreement) for the trailing four consecutive quarters, of no greater than 4.0 to 1.0. As of March 31, 2017 , our Consolidated Net Secured Leverage Ratio was 1.4 to 1.0. The Credit Agreement also requires that, in connection with the incurrence of certain indebtedness, we maintain a Consolidated Total Leverage Ratio, which is the ratio of our consolidated total debt to our Consolidated EBITDA for the trailing four consecutive quarters, of no greater than 6.0 to 1.0. As of March 31, 2017 , our Consolidated Total Leverage Ratio was 4.8 to 1.0. As of March 31, 2017 , we are in compliance with our debt covenants. Letter of Credit Facilities As of March 31, 2017 , we issued letters of credit totaling approximately $66.9 million under our aggregate $80.0 million letter of credit facilities. The total fees under the letter of credit facilities were immaterial in each of the three months ended March 31, 2017 and 2016 . Deferred Financing Costs As of March 31, 2017 , we had deferred $32.5 million in fees and expenses associated with the Term Loan, Revolving Credit Facility and our senior unsecured notes. We are amortizing the deferred fees through Interest expense, net, on the Consolidated Statement of Operations over the respective terms of the Term Loan, Revolving Credit Facility and our senior unsecured notes. Fair Value Under the fair value hierarchy, observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities are defined as Level 1; observable inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability are defined as Level 2; and unobservable inputs for the asset or liability are defined as Level 3. The aggregate fair value of our debt, which is estimated based on quoted market prices of similar liabilities, was approximately $2.3 billion as of March 31, 2017 , and $2.2 billion as of December 31, 2016 . The fair value of our debt as of both March 31, 2017

Equity

Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Equity	Equity As of March 31, 2017 , 450,000,000 shares of our common stock, par value $0.01 per share, were authorized; 138,575,870 shares were issued and outstanding; and 50,000,000 shares of our preferred stock, par value $0.01 per share, were authorized with no shares issued and outstanding. On April 25, 2017 , we announced that our board of directors approved a quarterly cash dividend of $0.36 per share on our common stock, payable on June 30, 2017 , to stockholders of record at the close of business on June 9, 2017

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2017
Business Combinations [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions Acquisitions We completed several acquisitions for a total purchase price of approximately $0.9 million in the three months ended March 31, 2017 , and $60.5 million in the three months ended March 31, 2016 . Dispositions On April 1, 2016, we completed the Disposition and received $82.0 million

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation The following table summarizes our stock-based compensation expense for the three months ended March 31, 2017 and 2016 . Three Months Ended March 31, (in millions) 2017 2016 Restricted share units (“RSUs”) and performance-based RSUs (“PRSUs”) $ 5.3 $ 4.7 Stock options 0.1 0.1 Stock-based compensation expense, before income taxes 5.4 4.8 Tax benefit (0.5 ) (0.5 ) Stock-based compensation expense, net of tax $ 4.9 $ 4.3 As of March 31, 2017 , total unrecognized compensation cost related to non-vested RSUs and PRSUs was $33.5 million , which is expected to be recognized over a weighted average period of 2.2 years , and total unrecognized compensation cost related to non-vested stock options was $0.1 million , which is expected to be recognized over a weighted average period of 0.5 years . RSUs and PRSUs The following table summarizes activity for the three months ended March 31, 2017 , of RSUs and PRSUs issued to our employees. Activity Weighted Average Per Share Grant Date Fair Market Value Non-vested as of December 31, 2016 1,637,141 $ 22.71 Granted: RSUs 485,621 27.21 PRSUs 248,030 27.20 Vested: RSUs (470,473 ) 23.30 PRSUs (197,341 ) 24.18 Forfeitures: RSUs (5,507 ) 22.87 PRSUs (22,350 ) 19.01 Non-vested as of March 31, 2017 1,675,121 24.39 Stock Options The following table summarizes activity for the three months ended March 31, 2017 , of stock options issued to our employees. Activity Weighted Average Exercise Price Outstanding as of December 31, 2016 294,897 $ 15.72 Exercised (129,604 ) 9.37 Outstanding as of March 31, 2017 165,293 20.69 Exercisable as of March 31, 2017 139,439 19.64

Retirement Benefits

Retirement Benefits	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Retirement Benefits	Retirement Benefits The following table presents the components of net periodic pension cost and amounts recognized in other comprehensive income (loss) for our pension plans: Three Months Ended March 31, (in millions) 2017 2016 Components of net periodic pension cost: Service cost $ 0.3 $ 0.4 Interest cost 0.5 0.4 Expected return on plan assets (0.5 ) (0.5 ) Amortization of net actuarial losses (a) 0.1 0.1 Net periodic pension cost $ 0.4 $ 0.4 (a) Reflects amounts reclassified from accumulated other comprehensive income (loss) to net income (loss). In the three months ended March 31, 2017 , we contributed $0.5 million to our pension plans. In 2017 , we expect to contribute approximately $2.1 million

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We are organized in conformity with the requirements for qualification and taxation as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”) and, accordingly, we have not provided for U.S. federal income tax on our REIT taxable income that we distributed to our stockholders. We have elected to treat our subsidiaries that participate in certain non-REIT qualifying activities, and our foreign subsidiaries, as taxable REIT subsidiaries (“TRSs”). As such, we have provided for their federal, state and foreign income taxes. Our effective income tax rate represents a combined annual effective tax rate for federal, state, local and foreign taxes applied to interim operating results. In the three months ended March 31, 2017

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share (EPS)	Earnings Per Share (“EPS”) Three Months Ended March 31, (in millions) 2017 2016 Net income (loss) $ 2.5 $ (2.3 ) Weighted average shares for basic EPS 138.3 137.6 Dilutive potential shares from grants of RSUs, PRSUs and stock options (a) 0.6 — Weighted average shares for diluted EPS 138.9 137.6 (a) The potential impact of an aggregate 0.3 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2017 , and 1.0 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2016

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Off-Balance Sheet Arrangements Our off-balance sheet commitments primarily consist of operating lease arrangements and guaranteed minimum annual payments. These arrangements result from our normal course of business and represent obligations that are payable over several years. Contractual Obligations We have long-term operating leases for office space, billboard sites and equipment, which expire at various dates. Certain leases contain renewal and escalation clauses. We have agreements with municipalities and transit operators which entitle us to operate advertising displays within their transit systems, including on the interior and exterior of rail and subway cars and buses, as well as on benches, transit shelters, street kiosks, and transit platforms. Under most of these franchise agreements, the franchisor is entitled to receive the greater of a percentage of the relevant revenues, net of agency fees, or a specified guaranteed minimum annual payment. We also have marketing and multimedia rights agreements with colleges, universities and other educational institutions, which entitle us to operate on-campus advertising displays, as well as manage marketing opportunities, media rights and experiential entertainment at sports events. Under most of these agreements, the school is entitled to receive the greater of a percentage of the relevant revenue, net of agency commissions, or a specified guaranteed minimum annual payment. The New York Metropolitan Transportation Authority (the “MTA”) has issued a “Request for Proposals” to prospective operators for the subway, bus and commuter rail (Metro-North and Long Island Railroad) concessions, in any combination, each for a ten-year contract, with an additional potential five-year renewal period. On May 18, 2016, we submitted a response to the MTA. In mid-October, the MTA issued a follow-up request that refined its timeline and bid requirements, particularly relating to digital deployment and the communications platform and we submitted our response on December 12, 2016. On November 7, 2016, we entered into an agreement with the MTA to extend the expiration of our existing contracts for transit advertising services from December 31, 2016, to June 30, 2017. Letters of Credit We have indemnification obligations with respect to letters of credit and surety bonds primarily used as security against non-performance in the normal course of business. The outstanding letters of credit and surety bonds approximated $126.1 million as of March 31, 2017 , and were not recorded on the Consolidated Statements of Financial Position. Legal Matters

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information As of April 1, 2016, we manage our operations through three operating segments—(1) U.S. Billboard and Transit, which is included in our U.S. Media reportable segment, (2) International and (3) Sports Marketing. International and Sports Marketing do not meet the criteria to be a reportable segment and accordingly, are both included in Other . The following tables set forth our financial performance by segment. Historical financial information by reportable segment has been recast to reflect the current period’s presentation. On April 1, 2016, we completed the Disposition. Historical operating results for our advertising business in Latin America are included in Other . Three Months Ended March 31, (in millions) 2017 2016 Revenues: U.S. Media $ 307.1 $ 312.6 Other 23.5 35.8 Total revenues $ 330.6 $ 348.4 We present Operating income before Depreciation , Amortization , Net loss on dispositions, Stock-based compensation, Restructuring charges and Loss on real estate assets held for sale (“Adjusted OIBDA”) as the primary measure of profit and loss for our operating segments in accordance with the FASB guidance for segment reporting. Three Months Ended March 31, (in millions) 2017 2016 Net income (loss) $ 2.5 $ (2.3 ) Benefit for income taxes (3.7 ) (1.3 ) Equity in earnings of investee companies, net of tax (0.9 ) (1.0 ) Interest expense, net 28.1 28.6 Other expense, net — 0.2 Operating income 26.0 24.2 Restructuring charges 1.8 — Loss on real estate assets held for sale — 1.3 Net loss on dispositions 0.4 0.4 Depreciation and amortization 46.6 57.4 Stock-based compensation 5.4 4.8 Total Adjusted OIBDA $ 80.2 $ 88.1 Adjusted OIBDA: U.S. Media $ 92.4 $ 94.9 Other (1.1 ) 2.2 Corporate (11.1 ) (9.0 ) Total Adjusted OIBDA $ 80.2 $ 88.1 Three Months Ended March 31, (in millions) 2017 2016 Operating income (loss): U.S. Media $ 47.5 $ 43.1 Other (5.0 ) (5.1 ) Corporate (16.5 ) (13.8 ) Total operating income $ 26.0 $ 24.2 Net loss on dispositions: U.S. Media $ 0.4 $ 0.4 Total loss on dispositions $ 0.4 $ 0.4 Depreciation and amortization: U.S. Media $ 42.7 $ 51.4 Other 3.9 6.0 Total depreciation and amortization $ 46.6 $ 57.4 Capital expenditures: U.S. Media $ 15.8 $ 13.5 Other 0.8 0.9 Total capital expenditures $ 16.6 $ 14.4 As of (in millions) March 31, 2017 December 31, 2016 Assets: U.S. Media $ 3,508.9 $ 3,578.8 Other 125.4 145.5 Corporate 22.2 14.2 Total assets $ 3,656.5 $ 3,738.5

Condensed Consolidating Financi

Condensed Consolidating Financial Information	3 Months Ended
	Mar. 31, 2017
Condensed Consolidating Financial Information [Abstract]
Condensed Consolidating Financial Information	Condensed Consolidating Financial Information We and our material existing and future direct and indirect 100% owned domestic subsidiaries (except Finance LLC and Outfront Media Capital Corporation, the borrowers under the Term Loan and the Revolving Credit Facility) guarantee the obligations under the Term Loan and the Revolving Credit Facility. Our senior unsecured notes are fully and unconditionally, and jointly and severally guaranteed on a senior unsecured basis by us and each of our direct and indirect wholly owned domestic subsidiaries that guarantees the Term Loan and the Revolving Credit Facility (see Note 7. Debt ). The following condensed consolidating schedules present financial information on a combined basis in conformity with the SEC’s Regulation S-X, Rule 3-10 for: (i) OUTFRONT Media Inc. (the “Parent Company”); (ii) Finance LLC (the “Subsidiary Issuer”); (iii) the guarantor subsidiaries; (iv) the non-guarantor subsidiaries; (v) elimination entries necessary to consolidate the Parent Company and the Subsidiary Issuer, the guarantor subsidiaries and non-guarantor subsidiaries; and (vi) the Parent Company on a consolidated basis. Outfront Media Capital Corporation is a co-issuer finance subsidiary with no assets or liabilities, and therefore has not been included in the tables below. As of March 31, 2017 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Current assets: Cash and cash equivalents $ — $ 16.2 $ 3.2 $ 6.9 $ — $ 26.3 Receivables, less allowance — — 170.7 11.2 — 181.9 Other current assets — 1.3 89.1 25.1 (12.2 ) 103.3 Total current assets — 17.5 263.0 43.2 (12.2 ) 311.5 Property and equipment, net — — 616.1 42.3 — 658.4 Goodwill — — 2,059.9 29.8 — 2,089.7 Intangible assets — — 534.8 — — 534.8 Investment in subsidiaries 1,185.3 3,343.1 112.3 — (4,640.7 ) — Other assets — 4.1 55.4 2.6 — 62.1 Intercompany — — 42.7 67.2 (109.9 ) — Total assets $ 1,185.3 $ 3,364.7 $ 3,684.2 $ 185.1 $ (4,762.8 ) $ 3,656.5 Total current liabilities $ — $ 36.9 $ 171.4 $ 14.6 $ (12.2 ) $ 210.7 Long-term debt, net — 2,142.5 — — — 2,142.5 Deferred income tax liabilities, net — — — 6.7 — 6.7 Asset retirement obligation — — 30.1 4.5 — 34.6 Deficit in excess of investment of subsidiaries — — 2,157.8 — (2,157.8 ) — Other liabilities — — 72.4 4.3 — 76.7 Intercompany — — 67.2 42.7 (109.9 ) — Total liabilities — 2,179.4 2,498.9 72.8 (2,279.9 ) 2,471.2 Total stockholders’ equity 1,185.2 1,185.2 1,185.2 112.3 (2,482.7 ) 1,185.2 Non-controlling interests 0.1 0.1 0.1 — (0.2 ) 0.1 Total equity 1,185.3 1,185.3 1,185.3 112.3 (2,482.9 ) 1,185.3 Total liabilities and equity $ 1,185.3 $ 3,364.7 $ 3,684.2 $ 185.1 $ (4,762.8 ) $ 3,656.5 As of December 31, 2016 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Current assets: Cash and cash equivalents $ — $ 11.4 $ 35.8 $ 18.0 $ — $ 65.2 Receivables, less allowances — — 207.9 14.1 — 222.0 Other current assets — 1.1 77.9 12.0 — 91.0 Total current assets — 12.5 321.6 44.1 — 378.2 Property and equipment, net — — 621.4 43.6 — 665.0 Goodwill — — 2,059.9 29.5 — 2,089.4 Intangible assets — — 545.3 — — 545.3 Investment in subsidiaries 1,233.0 3,371.9 114.4 — (4,719.3 ) — Other assets — 1.1 56.9 2.6 — 60.6 Intercompany — — 42.7 67.0 (109.7 ) — Total assets $ 1,233.0 $ 3,385.5 $ 3,762.2 $ 186.8 $ (4,829.0 ) $ 3,738.5 Total current liabilities $ — $ 15.7 $ 223.4 $ 12.4 $ — $ 251.5 Long-term debt, net — 2,136.8 — — — 2,136.8 Deferred income tax liabilities, net — — — 8.5 — 8.5 Asset retirement obligation — — 29.7 4.4 — 34.1 Deficit in excess of investment of subsidiaries — — 2,138.9 — (2,138.9 ) — Other liabilities — — 70.2 4.4 — 74.6 Intercompany — — 67.0 42.7 (109.7 ) — Total liabilities — 2,152.5 2,529.2 72.4 (2,248.6 ) 2,505.5 Total stockholders’ equity 1,232.9 1,232.9 1,232.9 114.4 (2,580.2 ) 1,232.9 Non-controlling interests 0.1 0.1 0.1 — (0.2 ) 0.1 Total equity 1,233.0 1,233.0 1,233.0 114.4 (2,580.4 ) 1,233.0 Total liabilities and equity $ 1,233.0 $ 3,385.5 $ 3,762.2 $ 186.8 $ (4,829.0 ) $ 3,738.5 Three Months Ended March 31, 2017 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Billboard $ — $ — $ 225.1 $ 10.9 $ — $ 236.0 Transit and other — — 92.3 2.3 — 94.6 Total revenues — — 317.4 13.2 — 330.6 Expenses: Operating — — 180.4 11.5 — 191.9 Selling, general and administrative 0.4 0.7 59.3 3.5 — 63.9 Restructuring charges — — 1.8 — — 1.8 Net gain on dispositions — — 0.4 — — 0.4 Depreciation — — 20.0 2.9 — 22.9 Amortization — — 23.2 0.5 — 23.7 Total expenses 0.4 0.7 285.1 18.4 — 304.6 Operating income (loss) (0.4 ) (0.7 ) 32.3 (5.2 ) — 26.0 Interest expense, net — (28.0 ) (0.1 ) — — (28.1 ) Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies (0.4 ) (28.7 ) 32.2 (5.2 ) — (2.1 ) Benefit for income taxes — — 1.9 1.8 — 3.7 Equity in earnings of investee companies, net of tax 2.9 31.6 (31.2 ) 0.1 (2.5 ) 0.9 Net income (loss) $ 2.5 $ 2.9 $ 2.9 $ (3.3 ) $ (2.5 ) $ 2.5 Net income (loss) $ 2.5 $ 2.9 $ 2.9 $ (3.3 ) $ (2.5 ) $ 2.5 Total other comprehensive income, net of tax 1.1 1.1 1.1 1.1 (3.3 ) 1.1 Total comprehensive income (loss) $ 3.6 $ 4.0 $ 4.0 $ (2.2 ) $ (5.8 ) $ 3.6 Three Months Ended March 31, 2016 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Billboard $ — $ — $ 228.3 $ 22.1 $ — $ 250.4 Transit and other — — 94.6 3.4 — 98.0 Total revenues — — 322.9 25.5 — 348.4 Expenses: Operating — — 180.1 19.7 — 199.8 Selling, general and administrative 0.4 0.1 58.4 6.4 — 65.3 Restructuring charges — — — — — — Loss on real estate assets held for sale — — — 1.3 — 1.3 Net loss on dispositions — — 0.4 — — 0.4 Depreciation — — 24.6 4.5 — 29.1 Amortization — — 27.4 0.9 — 28.3 Total expenses 0.4 0.1 290.9 32.8 — 324.2 Operating income (loss) (0.4 ) (0.1 ) 32.0 (7.3 ) — 24.2 Interest income (expense), net — (28.5 ) (0.1 ) — — (28.6 ) Other expense, net — — — (0.2 ) — (0.2 ) Income (loss) before benefit for income taxes and equity in earnings of investee companies (0.4 ) (28.6 ) 31.9 (7.5 ) — (4.6 ) Benefit for income taxes — — 1.3 — — 1.3 Equity in earnings of investee companies, net of tax (1.9 ) 26.7 (35.1 ) 0.1 11.2 1.0 Net loss $ (2.3 ) $ (1.9 ) $ (1.9 ) $ (7.4 ) $ 11.2 $ (2.3 ) Net loss $ (2.3 ) $ (1.9 ) $ (1.9 ) $ (7.4 ) $ 11.2 $ (2.3 ) Total other comprehensive loss, net of tax 6.0 6.0 6.0 6.0 (18.0 ) 6.0 Total comprehensive income (loss) $ 3.7 $ 4.1 $ 4.1 $ (1.4 ) $ (6.8 ) $ 3.7 Three Months Ended March 31, 2017 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash flow provided by (used for) operating activities $ (0.4 ) $ (18.9 ) $ 49.6 $ 1.9 $ — $ 32.2 Investing activities: Capital expenditures — — (15.8 ) (0.8 ) — (16.6 ) Acquisitions — — (0.9 ) — — (0.9 ) Net proceeds from dispositions — — 0.1 — — 0.1 Net cash flow used for investing activities — — (16.6 ) (0.8 ) — (17.4 ) Financing activities: Proceeds from long-term borrowings - term loan — 8.3 — — — 8.3 Deferred financing costs — (7.0 ) — — — (7.0 ) Proceeds from stock option exercises 1.2 — — — — 1.2 Taxes withheld for stock-based compensation — — (6.0 ) — — (6.0 ) Dividends (50.2 ) — — — — (50.2 ) Intercompany 49.4 22.4 (59.4 ) (12.4 ) — — Other — — (0.2 ) — — (0.2 ) Net cash flow provided by (used for) financing activities 0.4 23.7 (65.6 ) (12.4 ) — (53.9 ) Effect of exchange rate changes on cash and cash equivalents — — — 0.2 — 0.2 Net increase (decrease) in cash and cash equivalents — 4.8 (32.6 ) (11.1 ) — (38.9 ) Cash and cash equivalents at beginning of period — 11.4 35.8 18.0 — 65.2 Cash and cash equivalents at end of period $ — $ 16.2 $ 3.2 $ 6.9 $ — $ 26.3 Three Months Ended March 31, 2016 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash flow provided by (used for) operating activities $ (0.4 ) $ (19.6 ) $ 57.2 $ (3.4 ) $ — $ 33.8 Investing activities: Capital expenditures — — (13.5 ) (0.9 ) — (14.4 ) Acquisitions — — (60.5 ) — — (60.5 ) Net proceeds from dispositions — — 0.3 — — 0.3 Net cash flow used for investing activities — — (73.7 ) (0.9 ) — (74.6 ) Financing activities: Proceeds from borrowings under revolving credit facility — 35.0 — — — 35.0 Deferred financing costs — (0.4 ) — — — (0.4 ) Taxes withheld for stock-based compensation — — (5.1 ) — — (5.1 ) Dividends (47.1 ) — — — — (47.1 ) Intercompany 47.5 (86.8 ) 35.2 4.1 — — Other — — (0.2 ) — — (0.2 ) Net cash flow provided by (used for) financing activities 0.4 (52.2 ) 29.9 4.1 — (17.8 ) Effect of exchange rate changes on cash and cash equivalents — — — 0.2 — 0.2 Net increase (decrease) in cash and cash equivalents — (71.8 ) 13.4 — — (58.4 ) Cash and cash equivalents at beginning of period — 81.6 8.5 11.5 — 101.6 Cash and cash equivalents at end of period $ — $ 9.8 $ 21.9 $ 11.5 $ — $ 43.2

Description of Business and B25

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of our financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

New Accounting Standards (Polic

New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	Adoption of New Accounting Standards Stock Compensation During the first quarter of 2017, we adopted the Financial Accounting Standards Board’s (the “FASB’s”) guidance that simplifies the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as the classification in the statement of cash flows. We have elected to account for forfeitures as they occur, which we adopted on a modified retrospective basis and resulted in an increase of $0.5 million to Additional paid in capital , offset by a decrease of $0.5 million to Distribution in excess of earnings on our Consolidated Statement of Financial Position and Consolidated Statement of Equity as of March 31, 2017. Business Combinations During the first quarter of 2017, we adopted the FASB’s guidance clarifying the definition of a business for acquisitions and dispositions. The guidance is being applied on a prospective basis. Adoption of this guidance did not have a material effect on our consolidated financial statements.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property and Equipment	The table below presents the balances of major classes of assets and accumulated depreciation. As of (in millions) Estimated Useful Lives March 31, December 31, Land $ 90.8 $ 90.7 Buildings 20 to 40 years 48.6 48.2 Advertising structures 5 to 20 years 1,709.6 1,696.6 Furniture, equipment and other 3 to 10 years 90.8 88.5 Construction in progress 40.0 37.2 1,979.8 1,961.2 Less: accumulated depreciation 1,321.4 1,296.2 Property and equipment, net $ 658.4 $ 665.0

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Finite-Lived Intangible Assets	Our identifiable intangible assets consist of the following: (in millions) Gross Accumulated Amortization Net As of March 31, 2017: Permits and leasehold agreements $ 1,042.0 $ (646.8 ) $ 395.2 Franchise agreements 452.1 (338.9 ) 113.2 Other intangible assets 45.4 (19.0 ) 26.4 Total intangible assets $ 1,539.5 $ (1,004.7 ) $ 534.8 As of December 31, 2016: Permits and leasehold agreements $ 1,038.0 $ (636.1 ) $ 401.9 Franchise agreements 451.6 (336.6 ) 115.0 Other intangible assets 45.4 (17.0 ) 28.4 Total intangible assets $ 1,535.0 $ (989.7 ) $ 545.3

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	3 Months Ended
	Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Change in Asset Retirement Obligation	The following table sets forth the change in the asset retirement obligations associated with our advertising structures located on leased properties. The obligation is calculated based on the assumption that all of our advertising structures will be removed within the next 50 years. The estimated annual costs to dismantle and remove the structures upon the termination or non-renewal of our leases are consistent with our historical experience. (in millions) As of December 31, 2016 $ 34.1 Accretion expense 0.6 Additions 0.1 Liabilities settled (0.2 ) As of March 31, 2017 $ 34.6

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt, net, consists of the following: As of (in millions, except percentages) March 31, December 31, Term loan $ 667.5 $ 659.0 Senior unsecured notes: 5.250% senior unsecured notes, due 2022 549.5 549.5 5.625% senior unsecured notes, due 2024 502.9 503.0 5.875% senior unsecured notes, due 2025 450.0 450.0 Total senior unsecured notes 1,502.4 1,502.5 Debt issuance costs (27.4 ) (24.7 ) Total long-term debt, net $ 2,142.5 $ 2,136.8 Weighted average cost of debt 4.8 % 4.8 %

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense	The following table summarizes our stock-based compensation expense for the three months ended March 31, 2017 and 2016 . Three Months Ended March 31, (in millions) 2017 2016 Restricted share units (“RSUs”) and performance-based RSUs (“PRSUs”) $ 5.3 $ 4.7 Stock options 0.1 0.1 Stock-based compensation expense, before income taxes 5.4 4.8 Tax benefit (0.5 ) (0.5 ) Stock-based compensation expense, net of tax $ 4.9 $ 4.3
Activity of RSUs and PRSUs Issued to Our Employees	The following table summarizes activity for the three months ended March 31, 2017 , of RSUs and PRSUs issued to our employees. Activity Weighted Average Per Share Grant Date Fair Market Value Non-vested as of December 31, 2016 1,637,141 $ 22.71 Granted: RSUs 485,621 27.21 PRSUs 248,030 27.20 Vested: RSUs (470,473 ) 23.30 PRSUs (197,341 ) 24.18 Forfeitures: RSUs (5,507 ) 22.87 PRSUs (22,350 ) 19.01 Non-vested as of March 31, 2017 1,675,121 24.39
Activity of Stock Options Issued to Our Employees	The following table summarizes activity for the three months ended March 31, 2017 , of stock options issued to our employees. Activity Weighted Average Exercise Price Outstanding as of December 31, 2016 294,897 $ 15.72 Exercised (129,604 ) 9.37 Outstanding as of March 31, 2017 165,293 20.69 Exercisable as of March 31, 2017 139,439 19.64

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2017
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs	The following table presents the components of net periodic pension cost and amounts recognized in other comprehensive income (loss) for our pension plans: Three Months Ended March 31, (in millions) 2017 2016 Components of net periodic pension cost: Service cost $ 0.3 $ 0.4 Interest cost 0.5 0.4 Expected return on plan assets (0.5 ) (0.5 ) Amortization of net actuarial losses (a) 0.1 0.1 Net periodic pension cost $ 0.4 $ 0.4 (a)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended March 31, (in millions) 2017 2016 Net income (loss) $ 2.5 $ (2.3 ) Weighted average shares for basic EPS 138.3 137.6 Dilutive potential shares from grants of RSUs, PRSUs and stock options (a) 0.6 — Weighted average shares for diluted EPS 138.9 137.6 (a) The potential impact of an aggregate 0.3 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2017 , and 1.0 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2016

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables set forth our financial performance by segment. Historical financial information by reportable segment has been recast to reflect the current period’s presentation. On April 1, 2016, we completed the Disposition. Historical operating results for our advertising business in Latin America are included in Other . Three Months Ended March 31, (in millions) 2017 2016 Revenues: U.S. Media $ 307.1 $ 312.6 Other 23.5 35.8 Total revenues $ 330.6 $ 348.4
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income	Three Months Ended March 31, (in millions) 2017 2016 Net income (loss) $ 2.5 $ (2.3 ) Benefit for income taxes (3.7 ) (1.3 ) Equity in earnings of investee companies, net of tax (0.9 ) (1.0 ) Interest expense, net 28.1 28.6 Other expense, net — 0.2 Operating income 26.0 24.2 Restructuring charges 1.8 — Loss on real estate assets held for sale — 1.3 Net loss on dispositions 0.4 0.4 Depreciation and amortization 46.6 57.4 Stock-based compensation 5.4 4.8 Total Adjusted OIBDA $ 80.2 $ 88.1 Adjusted OIBDA: U.S. Media $ 92.4 $ 94.9 Other (1.1 ) 2.2 Corporate (11.1 ) (9.0 ) Total Adjusted OIBDA $ 80.2 $ 88.1
Tabular Disclosure by Reportable Segments	Three Months Ended March 31, (in millions) 2017 2016 Operating income (loss): U.S. Media $ 47.5 $ 43.1 Other (5.0 ) (5.1 ) Corporate (16.5 ) (13.8 ) Total operating income $ 26.0 $ 24.2 Net loss on dispositions: U.S. Media $ 0.4 $ 0.4 Total loss on dispositions $ 0.4 $ 0.4 Depreciation and amortization: U.S. Media $ 42.7 $ 51.4 Other 3.9 6.0 Total depreciation and amortization $ 46.6 $ 57.4 Capital expenditures: U.S. Media $ 15.8 $ 13.5 Other 0.8 0.9 Total capital expenditures $ 16.6 $ 14.4
Reconciliation of Assets from Segment to Consolidated	As of (in millions) March 31, 2017 December 31, 2016 Assets: U.S. Media $ 3,508.9 $ 3,578.8 Other 125.4 145.5 Corporate 22.2 14.2 Total assets $ 3,656.5 $ 3,738.5

Condensed Consolidating Finan35

Condensed Consolidating Financial Information (Tables)	3 Months Ended
	Mar. 31, 2017
Condensed Consolidating Financial Information [Abstract]
Condensed Balance Sheet	As of March 31, 2017 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Current assets: Cash and cash equivalents $ — $ 16.2 $ 3.2 $ 6.9 $ — $ 26.3 Receivables, less allowance — — 170.7 11.2 — 181.9 Other current assets — 1.3 89.1 25.1 (12.2 ) 103.3 Total current assets — 17.5 263.0 43.2 (12.2 ) 311.5 Property and equipment, net — — 616.1 42.3 — 658.4 Goodwill — — 2,059.9 29.8 — 2,089.7 Intangible assets — — 534.8 — — 534.8 Investment in subsidiaries 1,185.3 3,343.1 112.3 — (4,640.7 ) — Other assets — 4.1 55.4 2.6 — 62.1 Intercompany — — 42.7 67.2 (109.9 ) — Total assets $ 1,185.3 $ 3,364.7 $ 3,684.2 $ 185.1 $ (4,762.8 ) $ 3,656.5 Total current liabilities $ — $ 36.9 $ 171.4 $ 14.6 $ (12.2 ) $ 210.7 Long-term debt, net — 2,142.5 — — — 2,142.5 Deferred income tax liabilities, net — — — 6.7 — 6.7 Asset retirement obligation — — 30.1 4.5 — 34.6 Deficit in excess of investment of subsidiaries — — 2,157.8 — (2,157.8 ) — Other liabilities — — 72.4 4.3 — 76.7 Intercompany — — 67.2 42.7 (109.9 ) — Total liabilities — 2,179.4 2,498.9 72.8 (2,279.9 ) 2,471.2 Total stockholders’ equity 1,185.2 1,185.2 1,185.2 112.3 (2,482.7 ) 1,185.2 Non-controlling interests 0.1 0.1 0.1 — (0.2 ) 0.1 Total equity 1,185.3 1,185.3 1,185.3 112.3 (2,482.9 ) 1,185.3 Total liabilities and equity $ 1,185.3 $ 3,364.7 $ 3,684.2 $ 185.1 $ (4,762.8 ) $ 3,656.5 As of December 31, 2016 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Current assets: Cash and cash equivalents $ — $ 11.4 $ 35.8 $ 18.0 $ — $ 65.2 Receivables, less allowances — — 207.9 14.1 — 222.0 Other current assets — 1.1 77.9 12.0 — 91.0 Total current assets — 12.5 321.6 44.1 — 378.2 Property and equipment, net — — 621.4 43.6 — 665.0 Goodwill — — 2,059.9 29.5 — 2,089.4 Intangible assets — — 545.3 — — 545.3 Investment in subsidiaries 1,233.0 3,371.9 114.4 — (4,719.3 ) — Other assets — 1.1 56.9 2.6 — 60.6 Intercompany — — 42.7 67.0 (109.7 ) — Total assets $ 1,233.0 $ 3,385.5 $ 3,762.2 $ 186.8 $ (4,829.0 ) $ 3,738.5 Total current liabilities $ — $ 15.7 $ 223.4 $ 12.4 $ — $ 251.5 Long-term debt, net — 2,136.8 — — — 2,136.8 Deferred income tax liabilities, net — — — 8.5 — 8.5 Asset retirement obligation — — 29.7 4.4 — 34.1 Deficit in excess of investment of subsidiaries — — 2,138.9 — (2,138.9 ) — Other liabilities — — 70.2 4.4 — 74.6 Intercompany — — 67.0 42.7 (109.7 ) — Total liabilities — 2,152.5 2,529.2 72.4 (2,248.6 ) 2,505.5 Total stockholders’ equity 1,232.9 1,232.9 1,232.9 114.4 (2,580.2 ) 1,232.9 Non-controlling interests 0.1 0.1 0.1 — (0.2 ) 0.1 Total equity 1,233.0 1,233.0 1,233.0 114.4 (2,580.4 ) 1,233.0 Total liabilities and equity $ 1,233.0 $ 3,385.5 $ 3,762.2 $ 186.8 $ (4,829.0 ) $ 3,738.5
Condensed Income Statement	Three Months Ended March 31, 2017 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Billboard $ — $ — $ 225.1 $ 10.9 $ — $ 236.0 Transit and other — — 92.3 2.3 — 94.6 Total revenues — — 317.4 13.2 — 330.6 Expenses: Operating — — 180.4 11.5 — 191.9 Selling, general and administrative 0.4 0.7 59.3 3.5 — 63.9 Restructuring charges — — 1.8 — — 1.8 Net gain on dispositions — — 0.4 — — 0.4 Depreciation — — 20.0 2.9 — 22.9 Amortization — — 23.2 0.5 — 23.7 Total expenses 0.4 0.7 285.1 18.4 — 304.6 Operating income (loss) (0.4 ) (0.7 ) 32.3 (5.2 ) — 26.0 Interest expense, net — (28.0 ) (0.1 ) — — (28.1 ) Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies (0.4 ) (28.7 ) 32.2 (5.2 ) — (2.1 ) Benefit for income taxes — — 1.9 1.8 — 3.7 Equity in earnings of investee companies, net of tax 2.9 31.6 (31.2 ) 0.1 (2.5 ) 0.9 Net income (loss) $ 2.5 $ 2.9 $ 2.9 $ (3.3 ) $ (2.5 ) $ 2.5 Net income (loss) $ 2.5 $ 2.9 $ 2.9 $ (3.3 ) $ (2.5 ) $ 2.5 Total other comprehensive income, net of tax 1.1 1.1 1.1 1.1 (3.3 ) 1.1 Total comprehensive income (loss) $ 3.6 $ 4.0 $ 4.0 $ (2.2 ) $ (5.8 ) $ 3.6 Three Months Ended March 31, 2016 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Revenues: Billboard $ — $ — $ 228.3 $ 22.1 $ — $ 250.4 Transit and other — — 94.6 3.4 — 98.0 Total revenues — — 322.9 25.5 — 348.4 Expenses: Operating — — 180.1 19.7 — 199.8 Selling, general and administrative 0.4 0.1 58.4 6.4 — 65.3 Restructuring charges — — — — — — Loss on real estate assets held for sale — — — 1.3 — 1.3 Net loss on dispositions — — 0.4 — — 0.4 Depreciation — — 24.6 4.5 — 29.1 Amortization — — 27.4 0.9 — 28.3 Total expenses 0.4 0.1 290.9 32.8 — 324.2 Operating income (loss) (0.4 ) (0.1 ) 32.0 (7.3 ) — 24.2 Interest income (expense), net — (28.5 ) (0.1 ) — — (28.6 ) Other expense, net — — — (0.2 ) — (0.2 ) Income (loss) before benefit for income taxes and equity in earnings of investee companies (0.4 ) (28.6 ) 31.9 (7.5 ) — (4.6 ) Benefit for income taxes — — 1.3 — — 1.3 Equity in earnings of investee companies, net of tax (1.9 ) 26.7 (35.1 ) 0.1 11.2 1.0 Net loss $ (2.3 ) $ (1.9 ) $ (1.9 ) $ (7.4 ) $ 11.2 $ (2.3 ) Net loss $ (2.3 ) $ (1.9 ) $ (1.9 ) $ (7.4 ) $ 11.2 $ (2.3 ) Total other comprehensive loss, net of tax 6.0 6.0 6.0 6.0 (18.0 ) 6.0 Total comprehensive income (loss) $ 3.7 $ 4.1 $ 4.1 $ (1.4 ) $ (6.8 ) $ 3.7
Condensed Cash Flow Statement	Three Months Ended March 31, 2017 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash flow provided by (used for) operating activities $ (0.4 ) $ (18.9 ) $ 49.6 $ 1.9 $ — $ 32.2 Investing activities: Capital expenditures — — (15.8 ) (0.8 ) — (16.6 ) Acquisitions — — (0.9 ) — — (0.9 ) Net proceeds from dispositions — — 0.1 — — 0.1 Net cash flow used for investing activities — — (16.6 ) (0.8 ) — (17.4 ) Financing activities: Proceeds from long-term borrowings - term loan — 8.3 — — — 8.3 Deferred financing costs — (7.0 ) — — — (7.0 ) Proceeds from stock option exercises 1.2 — — — — 1.2 Taxes withheld for stock-based compensation — — (6.0 ) — — (6.0 ) Dividends (50.2 ) — — — — (50.2 ) Intercompany 49.4 22.4 (59.4 ) (12.4 ) — — Other — — (0.2 ) — — (0.2 ) Net cash flow provided by (used for) financing activities 0.4 23.7 (65.6 ) (12.4 ) — (53.9 ) Effect of exchange rate changes on cash and cash equivalents — — — 0.2 — 0.2 Net increase (decrease) in cash and cash equivalents — 4.8 (32.6 ) (11.1 ) — (38.9 ) Cash and cash equivalents at beginning of period — 11.4 35.8 18.0 — 65.2 Cash and cash equivalents at end of period $ — $ 16.2 $ 3.2 $ 6.9 $ — $ 26.3 Three Months Ended March 31, 2016 (in millions) Parent Company Subsidiary Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net cash flow provided by (used for) operating activities $ (0.4 ) $ (19.6 ) $ 57.2 $ (3.4 ) $ — $ 33.8 Investing activities: Capital expenditures — — (13.5 ) (0.9 ) — (14.4 ) Acquisitions — — (60.5 ) — — (60.5 ) Net proceeds from dispositions — — 0.3 — — 0.3 Net cash flow used for investing activities — — (73.7 ) (0.9 ) — (74.6 ) Financing activities: Proceeds from borrowings under revolving credit facility — 35.0 — — — 35.0 Deferred financing costs — (0.4 ) — — — (0.4 ) Taxes withheld for stock-based compensation — — (5.1 ) — — (5.1 ) Dividends (47.1 ) — — — — (47.1 ) Intercompany 47.5 (86.8 ) 35.2 4.1 — — Other — — (0.2 ) — — (0.2 ) Net cash flow provided by (used for) financing activities 0.4 (52.2 ) 29.9 4.1 — (17.8 ) Effect of exchange rate changes on cash and cash equivalents — — — 0.2 — 0.2 Net increase (decrease) in cash and cash equivalents — (71.8 ) 13.4 — — (58.4 ) Cash and cash equivalents at beginning of period — 81.6 8.5 11.5 — 101.6 Cash and cash equivalents at end of period $ — $ 9.8 $ 21.9 $ 11.5 $ — $ 43.2

Description of Business and B36

Description of Business and Basis of Presentation - Narrative (Details)	3 Months Ended
	Mar. 31, 2017marketssegment
Description of Business and Basis of Presentation [Line Items]
Number of largest domestic markets in which the entity operates	25
Number of operating segments | segment	3
Minimum
Description of Business and Basis of Presentation [Line Items]
Number of markets in which the entity operates	150

New Accounting Standards Narrat

New Accounting Standards Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)leases
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock-based payments: Amortization	$ 5.4	$ 4.8
Debt issuance costs	(27.4)		$ (24.7)
Adjustments for New Accounting Pronouncement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock-based payments: Amortization	0
UNITED STATES
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of leases | leases			22,600
CANADA
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of leases | leases			3,200
Additional Paid-In Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock-based payments: Amortization	5.4	$ 4.8
Additional Paid-In Capital | Adjustments for New Accounting Pronouncement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock-based payments: Amortization	0.5
Distribution in Excess of Earnings | Adjustments for New Accounting Pronouncement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock-based payments: Amortization	$ (0.5)

Property and Equipment - Summar

Property and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Property and Equipment [Line Items]
Property and equipment	$ 1,979.8	$ 1,961.2
Less: accumulated depreciation	1,321.4	1,296.2
Property and equipment, net	658.4	665
Land
Property and Equipment [Line Items]
Property and equipment	90.8	90.7
Buildings
Property and Equipment [Line Items]
Property and equipment	$ 48.6	48.2
Buildings | Minimum
Property and Equipment [Line Items]
Property and equipment, useful life	20 years
Buildings | Maximum
Property and Equipment [Line Items]
Property and equipment, useful life	40 years
Advertising structures
Property and Equipment [Line Items]
Property and equipment	$ 1,709.6	1,696.6
Advertising structures | Minimum
Property and Equipment [Line Items]
Property and equipment, useful life	5 years
Advertising structures | Maximum
Property and Equipment [Line Items]
Property and equipment, useful life	20 years
Furniture, equipment and other
Property and Equipment [Line Items]
Property and equipment	$ 90.8	88.5
Furniture, equipment and other | Minimum
Property and Equipment [Line Items]
Property and equipment, useful life	3 years
Furniture, equipment and other | Maximum
Property and Equipment [Line Items]
Property and equipment, useful life	10 years
Construction in progress
Property and Equipment [Line Items]
Property and equipment	$ 40	$ 37.2

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Depreciation	$ 22.9	$ 29.1

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,539.5	$ 1,535
Accumulated amortization	(1,004.7)	(989.7)
Net	534.8	545.3
Permits and leasehold agreements
Finite-Lived Intangible Assets [Line Items]
Gross	1,042	1,038
Accumulated amortization	(646.8)	(636.1)
Net	395.2	401.9
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross	452.1	451.6
Accumulated amortization	(338.9)	(336.6)
Net	113.2	115
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	45.4	45.4
Accumulated amortization	(19)	(17)
Net	$ 26.4	$ 28.4

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 23.7	$ 28.3
Amortization of direct lease acquisition costs	$ 8.7	$ 8.9
Minimum
Finite-Lived Intangible Assets [Line Items]
Direct lease acquisition costs, useful life	28 days
Maximum
Finite-Lived Intangible Assets [Line Items]
Direct lease acquisition costs, useful life	1 year

Asset Retirement Obligation - N

Asset Retirement Obligation - Narrative (Details)	3 Months Ended
	Mar. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, expected term	50 years
Asset retirement obligations, description	The obligation is calculated based on the assumption that all of our advertising structures will be removed within the next 50 years.

Asset Retirement Obligation - S

Asset Retirement Obligation - Schedule of Change in Asset Retirement Obligation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
As of December 31, 2016	$ 34.1
Accretion expense	0.6
Additions	0.1
Liabilities settled	(0.2)
As of March 31, 2017	$ 34.6

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)joint_ventureDisplays	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments | $	$ 21		$ 21.7
Management fee revenue | $	$ 1.5	$ 1.7
Transit shelter joint ventures
Related Party Transaction [Line Items]
Equity method investment, number of investments | joint_venture	2
Acquired joint ventures
Related Party Transaction [Line Items]
Equity method investment, number of investments | joint_venture	3
Equity method investment, number of displays | Displays	15

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt Instruments (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term debt, net	$ 2,142.5	$ 2,136.8
Debt issuance costs	$ (27.4)	$ (24.7)
Weighted average cost of debt	4.80%	4.80%
Secured debt | Term loan, due 2024
Debt Instrument [Line Items]
Maturity date	Mar. 16, 2024
Long-term debt, net	$ 667.5
Secured debt | Term loan, due 2021
Debt Instrument [Line Items]
Maturity date		Jan. 31, 2021
Long-term debt, net		$ 659
Senior unsecured notes
Debt Instrument [Line Items]
Long-term debt, net	$ 1,502.4	$ 1,502.5
Senior unsecured notes | 5.250% senior unsecured notes, due 2022
Debt Instrument [Line Items]
Maturity date	Jan. 31, 2022	Jan. 31, 2022
Long-term debt, net	$ 549.5	$ 549.5
Stated interest rate	5.25%	5.25%
Senior unsecured notes | 5.625% senior unsecured notes, due 2024
Debt Instrument [Line Items]
Maturity date	Jan. 31, 2024	Jan. 31, 2024
Long-term debt, net	$ 502.9	$ 503
Stated interest rate	5.625%	5.625%
Senior unsecured notes | 5.875% senior unsecured notes, due 2025
Debt Instrument [Line Items]
Maturity date	Mar. 15, 2025	Mar. 15, 2025
Long-term debt, net	$ 450	$ 450
Stated interest rate	5.875%	5.875%

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 16, 2017USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Apr. 03, 2017USD ($)
Line of Credit Facility [Line Items]
Outstanding letters of credit and surety bonds	$ 126.1
Debt Instrument, Covenant Description	The Credit Agreement also requires that, in connection with the incurrence of certain indebtedness, we maintain a Consolidated Total Leverage Ratio, which is the ratio of our consolidated total debt to our Consolidated EBITDA for the trailing four consecutive quarters, of no greater than 6.0 to 1.0.
Maximum consolidated total leverage ratio	6
Consolidated Total Leverage Ratio	4.8
Debt Instrument [Line Items]
Deferred financing costs	$ 32.5
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 430
Credit facility, expiration date	Mar. 16, 2022			Jan. 31, 2019
Commitment fee for unused commitments	$ 0.2		$ 0.5
Outstanding letters of credit and surety bonds	$ 31.7
Consolidated Net Secured Leverage Ratio	1.4
Debt Instrument, Covenant Description	The terms of the Credit Agreement require that, as long as any commitments remain outstanding under the Revolving Credit Facility, we maintain a Consolidated Net Secured Leverage Ratio, which is the ratio of (i) our consolidated secured debt (less up to $150.0 million of unrestricted cash) to (ii) our Consolidated EBITDA (as defined in the Credit Agreement) for the trailing four consecutive quarters, of no greater than 4.0 to 1.0.
Maximum consolidated net secured coverage ratio	4
Revolving credit facility increase		5
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 80
Outstanding letters of credit and surety bonds	$ 66.9
Secured debt | Term loan, due 2021
Debt Instrument [Line Items]
Maturity date				Jan. 31, 2021
Secured debt | Term loan, due 2024
Debt Instrument [Line Items]
Incremental increase of term loan		10
Term Loan principal balance		$ 670
Interest rate at period end	3.20%
Unamortized debt discount	$ 2.5
Maturity date	Mar. 16, 2024
Senior unsecured notes | 5.250% senior unsecured notes, due 2022
Debt Instrument [Line Items]
Unamortized debt discount	$ 0.5
Debt face amount	$ 150
Stated interest rate	5.25%			5.25%
Maturity date	Jan. 31, 2022			Jan. 31, 2022
Senior unsecured notes | 5.625% senior unsecured notes, due 2024
Debt Instrument [Line Items]
Debt face amount	$ 100
Stated interest rate	5.625%			5.625%
Maturity date	Jan. 31, 2024			Jan. 31, 2024
Unamortized premium	$ 2.9
Senior unsecured notes | 5.875% senior unsecured notes, due 2025
Debt Instrument [Line Items]
Stated interest rate	5.875%			5.875%
Maturity date	Mar. 15, 2025			Mar. 15, 2025
Short-term debt | Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, outstanding amount	$ 0
Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt covenant, restricted cash limit	$ 150
Minimum
Debt Instrument [Line Items]
Interest rate floor	0.00%
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt at fair value	$ 2,300			$ 2,200
Subsequent Event | Short-term debt | Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facility, outstanding amount					$ 15

Equity - Narrative (Details)

Equity - Narrative (Details) - $ / shares	Jun. 30, 2017	Jun. 09, 2017	Apr. 25, 2017	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Document Period End Date				Mar. 31, 2017
Common Stock, Shares Authorized				450,000,000		450,000,000
Common stock, par value per share				$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common Stock, Shares Issued				138,575,870		138,044,896
Common Stock, Shares Outstanding				138,575,870		138,044,896
Preferred Stock, Shares Authorized				50,000,000
Preferred stock, par value per share				$ 0.01
Preferred Stock, Shares Issued				0
Preferred Stock, Shares Outstanding				0
Dividends declared per common share (in dollars per share)				$ 0.36	$ 0.34
Subsequent Event
Class of Stock [Line Items]
Dividends Payable, Date Declared			Apr. 25, 2017
Dividends declared per common share (in dollars per share)			$ 0.36
Dividends Payable, Date to be Paid	Jun. 30, 2017
Dividends Payable, Date of Record		Jun. 9, 2017
Common Stock
Class of Stock [Line Items]
Common Stock, Shares Outstanding				138,600,000	137,900,000	138,000,000	137,600,000

Acquisitions and Dispositions -

Acquisitions and Dispositions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Apr. 01, 2016
Business Combinations [Abstract]
Payments to Acquire Businesses, Net of Cash Acquired	$ 0.9	$ 60.5
Proceeds from dispositions			$ 82

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Restricted share units (“RSUs”) and performance-based RSUs (“PRSUs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation not yet recognized, share-based awards other than options	$ 33.5
Compensation cost not yet recognized, period for recognition	2 years 2 months 12 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized, period for recognition	6 months
Compensation not yet recognized, stock options	$ 0.1

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Allocation of Share-based Compensation Costs by Plan (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, before income taxes	$ 5.4	$ 4.8
Tax benefit	(0.5)	(0.5)
Stock-based compensation expense, net of tax	4.9	4.3
Restricted share units (“RSUs”) and performance-based RSUs (“PRSUs”)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, before income taxes	5.3	4.7
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, before income taxes	$ 0.1	$ 0.1

Stock-Based Compensation - Sc51

Stock-Based Compensation - Schedule of RSU and PRSU Award Activity (Details)	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Restricted share units (“RSUs”) and performance-based RSUs (“PRSUs”)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Non-vested as of beginning of period | shares	1,637,141
Non-vested as of end of period | shares	1,675,121
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Non-Vested, Beginning Balance (per share) | $ / shares	$ 22.71
Weighted Average Grant Date Fair Value, Non-Vested, Ending Balance (per share) | $ / shares	$ 24.39
Restricted Stock Units (RSUs)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Granted | shares	485,621
Vested | shares	(470,473)
Forfeitures | shares	(5,507)
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Grants (per share) | $ / shares	$ 27.21
Weighted Average Grant Date Fair Value, Vested (per share) | $ / shares	23.30
Weighted Average Grant Date Fair Value, Forfeited (per share) | $ / shares	$ 22.87
Performance Restricted Stock Units (PRSUs)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Granted | shares	248,030
Vested | shares	(197,341)
Forfeitures | shares	(22,350)
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Grants (per share) | $ / shares	$ 27.20
Weighted Average Grant Date Fair Value, Vested (per share) | $ / shares	24.18
Weighted Average Grant Date Fair Value, Forfeited (per share) | $ / shares	$ 19.01

Stock-Based Compensation - Sc52

Stock-Based Compensation - Schedule of Stock Options Roll Forward (Details) - Stock options - $ / shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding	165,293	294,897
Exercised	129,604
Exercisable as of end of period	139,439
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, options outstanding	$ 20.69	$ 15.72
Weighted average exercise price, options exercised	9.37
Weighted average exercise price, options exercisable	$ 19.64

Retirement Benefits - Schedule

Retirement Benefits - Schedule of Net Benefit Costs (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost		$ 0.3	$ 0.4
Interest cost		0.5	0.4
Expected return on plan assets		(0.5)	(0.5)
Amortization of net actuarial losses	[1]	0.1	0.1
Net periodic pension cost		$ 0.4	$ 0.4
[1]	Reflects amounts reclassified from accumulated other comprehensive income (loss) to net income (loss).

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Compensation and Retirement Disclosure [Abstract]
Pension contributions	$ 0.5
Estimated future employer contributions in current fiscal year	$ 2.1

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income (loss)		$ 2.5	$ (2.3)
Weighted average shares for basic EPS		138.3	137.6
Dilutive potential shares from grants of RSUs, PRSUs and stock options	[1]	0.6	0
Weighted average shares for diluted EPS		138.9	137.6
Antidilutive securities excluded from computation of earnings per share		0.3	1
[1]	The potential impact of an aggregate 0.3 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2017 , and 1.0 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2016

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) $ in Millions	Mar. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds	$ 126.1

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2017segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 330.6	$ 348.4
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Revenues	307.1	312.6
Operating segments | Other
Segment Reporting Information [Line Items]
Revenues	$ 23.5	$ 35.8

Segment Information - Adjusted

Segment Information - Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Net income (loss)	$ 2.5	$ (2.3)
(Benefit) provision for income taxes	(3.7)	(1.3)
Equity in earnings of investee companies, net of tax	(0.9)	(1)
Interest expense, net	28.1	28.6
Other income (expense), net	0	0.2
Operating income (loss)	26	24.2
Restructuring charges	1.8	0
Loss on real estate assets held for sale	0	1.3
Net loss on dispositions	0.4	0.4
Depreciation and amortization	46.6	57.4
Stock-based compensation	5.4	4.8
Adjusted OIBDA	80.2	88.1
Capital expenditures	16.6	14.4
Operating segments
Segment Reporting Information [Line Items]
Net loss on dispositions	0.4	0.4
Depreciation and amortization	46.6	57.4
Capital expenditures	16.6	14.4
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Operating income (loss)	47.5	43.1
Net loss on dispositions	0.4	0.4
Depreciation and amortization	42.7	51.4
Adjusted OIBDA	92.4	94.9
Capital expenditures	15.8	13.5
Operating segments | Other
Segment Reporting Information [Line Items]
Operating income (loss)	(5)	(5.1)
Depreciation and amortization	3.9	6
Adjusted OIBDA	(1.1)	2.2
Capital expenditures	0.8	0.9
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(16.5)	(13.8)
Adjusted OIBDA	$ (11.1)	$ (9)

Segment Information - Reconci60

Segment Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total assets	$ 3,656.5	$ 3,738.5
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Total assets	3,508.9	3,578.8
Operating segments | Other
Segment Reporting Information [Line Items]
Total assets	125.4	145.5
Corporate
Segment Reporting Information [Line Items]
Total assets	$ 22.2	$ 14.2

Condensed Consolidating Finan61

Condensed Consolidating Financial Information - Narrative (Details)	Mar. 31, 2017
Wholly Owned Domestic Subsidiaries [Line Items]
Equity method investment, ownership percentage	50.00%
Parent Company
Wholly Owned Domestic Subsidiaries [Line Items]
Equity method investment, ownership percentage	100.00%

Condensed Consolidating Finan62

Condensed Consolidating Financial Information - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 26.3	$ 65.2	$ 43.2	$ 101.6
Receivables, less allowance	181.9	222
Other current assets	103.3	91
Total current assets	311.5	378.2
Property and equipment, net	658.4	665
Goodwill	2,089.7	2,089.4
Intangible assets	534.8	545.3
Investment in subsidiaries	0	0
Other assets	62.1	60.6
Intercompany	0	0
Total assets	3,656.5	3,738.5
Total current liabilities	210.7	251.5
Long-term debt, net	2,142.5	2,136.8
Deferred income tax liabilities, net	6.7	8.5
Asset retirement obligation	34.6	34.1
Deficit in excess of investment in subsidiaries	0	0
Other liabilities	76.7	74.6
Intercompany	0	0
Total liabilities	2,471.2	2,505.5
Total stockholders' equity	1,185.2	1,232.9	1,170.2	1,212.6
Non-controlling interests	0.1	0.1
Total equity	1,185.3	1,233	1,170.2	1,212.6
Total liabilities and equity	3,656.5	3,738.5
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Receivables, less allowance	0	0
Other current assets	(12.2)	0
Total current assets	(12.2)	0
Property and equipment, net	0	0
Goodwill	0	0
Intangible assets	0	0
Investment in subsidiaries	(4,640.7)	(4,719.3)
Other assets	0	0
Intercompany	(109.9)	(109.7)
Total assets	(4,762.8)	(4,829)
Total current liabilities	(12.2)	0
Long-term debt, net	0	0
Deferred income tax liabilities, net	0	0
Asset retirement obligation	0	0
Deficit in excess of investment in subsidiaries	(2,157.8)	(2,138.9)
Other liabilities	0	0
Intercompany	(109.9)	(109.7)
Total liabilities	(2,279.9)	(2,248.6)
Total stockholders' equity	(2,482.7)	(2,580.2)
Non-controlling interests	(0.2)	(0.2)
Total equity	(2,482.9)	(2,580.4)
Total liabilities and equity	(4,762.8)	(4,829)
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Receivables, less allowance	0	0
Other current assets	0	0
Total current assets	0	0
Property and equipment, net	0	0
Goodwill	0	0
Intangible assets	0	0
Investment in subsidiaries	1,185.3	1,233
Other assets	0	0
Intercompany	0	0
Total assets	1,185.3	1,233
Total current liabilities	0	0
Long-term debt, net	0	0
Deferred income tax liabilities, net	0	0
Asset retirement obligation	0	0
Deficit in excess of investment in subsidiaries	0	0
Other liabilities	0	0
Intercompany	0	0
Total liabilities	0	0
Total stockholders' equity	1,185.2	1,232.9
Non-controlling interests	0.1	0.1
Total equity	1,185.3	1,233
Total liabilities and equity	1,185.3	1,233
Subsidiary Issuer
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	16.2	11.4	9.8	81.6
Receivables, less allowance	0	0
Other current assets	1.3	1.1
Total current assets	17.5	12.5
Property and equipment, net	0	0
Goodwill	0	0
Intangible assets	0	0
Investment in subsidiaries	3,343.1	3,371.9
Other assets	4.1	1.1
Intercompany	0	0
Total assets	3,364.7	3,385.5
Total current liabilities	36.9	15.7
Long-term debt, net	2,142.5	2,136.8
Deferred income tax liabilities, net	0	0
Asset retirement obligation	0	0
Deficit in excess of investment in subsidiaries	0	0
Other liabilities	0	0
Intercompany	0	0
Total liabilities	2,179.4	2,152.5
Total stockholders' equity	1,185.2	1,232.9
Non-controlling interests	0.1	0.1
Total equity	1,185.3	1,233
Total liabilities and equity	3,364.7	3,385.5
Guarantor Subsidiaries
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	3.2	35.8	21.9	8.5
Receivables, less allowance	170.7	207.9
Other current assets	89.1	77.9
Total current assets	263	321.6
Property and equipment, net	616.1	621.4
Goodwill	2,059.9	2,059.9
Intangible assets	534.8	545.3
Investment in subsidiaries	112.3	114.4
Other assets	55.4	56.9
Intercompany	42.7	42.7
Total assets	3,684.2	3,762.2
Total current liabilities	171.4	223.4
Long-term debt, net	0	0
Deferred income tax liabilities, net	0	0
Asset retirement obligation	30.1	29.7
Deficit in excess of investment in subsidiaries	2,157.8	2,138.9
Other liabilities	72.4	70.2
Intercompany	67.2	67
Total liabilities	2,498.9	2,529.2
Total stockholders' equity	1,185.2	1,232.9
Non-controlling interests	0.1	0.1
Total equity	1,185.3	1,233
Total liabilities and equity	3,684.2	3,762.2
Non-Guarantor Subsidiaries
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	6.9	18	$ 11.5	$ 11.5
Receivables, less allowance	11.2	14.1
Other current assets	25.1	12
Total current assets	43.2	44.1
Property and equipment, net	42.3	43.6
Goodwill	29.8	29.5
Intangible assets	0	0
Investment in subsidiaries	0	0
Other assets	2.6	2.6
Intercompany	67.2	67
Total assets	185.1	186.8
Total current liabilities	14.6	12.4
Long-term debt, net	0	0
Deferred income tax liabilities, net	6.7	8.5
Asset retirement obligation	4.5	4.4
Deficit in excess of investment in subsidiaries	0	0
Other liabilities	4.3	4.4
Intercompany	42.7	42.7
Total liabilities	72.8	72.4
Total stockholders' equity	112.3	114.4
Non-controlling interests	0	0
Total equity	112.3	114.4
Total liabilities and equity	$ 185.1	$ 186.8

Condensed Consolidating Finan63

Condensed Consolidating Financial Information - Condensed Consolidating Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Income Statements, Captions [Line Items]
Billboard	$ 236	$ 250.4
Transit and other	94.6	98
Total revenues	330.6	348.4
Operating	191.9	199.8
Selling, general and administrative	63.9	65.3
Restructuring charges	1.8	0
Loss on real estate assets held for sale	0	1.3
Net (gain) loss on dispositions	0.4	0.4
Depreciation	22.9	29.1
Amortization	23.7	28.3
Total expenses	304.6	324.2
Operating income (loss)	26	24.2
Interest expense, net	(28.1)	(28.6)
Other expense, net	0	(0.2)
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies	(2.1)	(4.6)
Benefit (provision) for income taxes	3.7	1.3
Equity in earnings of investee companies, net of tax	0.9	1
Net income (loss)	2.5	(2.3)
Total other comprehensive income (loss), net of tax	1.1	6
Total comprehensive income (loss)	3.6	3.7
Eliminations
Condensed Income Statements, Captions [Line Items]
Billboard	0	0
Transit and other	0	0
Total revenues	0	0
Operating	0	0
Selling, general and administrative	0	0
Restructuring charges	0	0
Loss on real estate assets held for sale		0
Net (gain) loss on dispositions	0	0
Depreciation	0	0
Amortization	0	0
Total expenses	0	0
Operating income (loss)	0	0
Interest expense, net	0	0
Other expense, net		0
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies	0	0
Benefit (provision) for income taxes	0	0
Equity in earnings of investee companies, net of tax	(2.5)	11.2
Net income (loss)	(2.5)	11.2
Total other comprehensive income (loss), net of tax	(3.3)	(18)
Total comprehensive income (loss)	(5.8)	(6.8)
Parent Company
Condensed Income Statements, Captions [Line Items]
Billboard	0	0
Transit and other	0	0
Total revenues	0	0
Operating	0	0
Selling, general and administrative	0.4	0.4
Restructuring charges	0	0
Loss on real estate assets held for sale		0
Net (gain) loss on dispositions	0	0
Depreciation	0	0
Amortization	0	0
Total expenses	0.4	0.4
Operating income (loss)	(0.4)	(0.4)
Interest expense, net	0	0
Other expense, net		0
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies	(0.4)	(0.4)
Benefit (provision) for income taxes	0	0
Equity in earnings of investee companies, net of tax	2.9	(1.9)
Net income (loss)	2.5	(2.3)
Total other comprehensive income (loss), net of tax	1.1	6
Total comprehensive income (loss)	3.6	3.7
Subsidiary Issuer
Condensed Income Statements, Captions [Line Items]
Billboard	0	0
Transit and other	0	0
Total revenues	0	0
Operating	0	0
Selling, general and administrative	0.7	0.1
Restructuring charges	0	0
Loss on real estate assets held for sale		0
Net (gain) loss on dispositions	0	0
Depreciation	0	0
Amortization	0	0
Total expenses	0.7	0.1
Operating income (loss)	(0.7)	(0.1)
Interest expense, net	(28)	(28.5)
Other expense, net		0
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies	(28.7)	(28.6)
Benefit (provision) for income taxes	0	0
Equity in earnings of investee companies, net of tax	31.6	26.7
Net income (loss)	2.9	(1.9)
Total other comprehensive income (loss), net of tax	1.1	6
Total comprehensive income (loss)	4	4.1
Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Billboard	225.1	228.3
Transit and other	92.3	94.6
Total revenues	317.4	322.9
Operating	180.4	180.1
Selling, general and administrative	59.3	58.4
Restructuring charges	1.8	0
Loss on real estate assets held for sale		0
Net (gain) loss on dispositions	0.4	0.4
Depreciation	20	24.6
Amortization	23.2	27.4
Total expenses	285.1	290.9
Operating income (loss)	32.3	32
Interest expense, net	(0.1)	(0.1)
Other expense, net		0
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies	32.2	31.9
Benefit (provision) for income taxes	1.9	1.3
Equity in earnings of investee companies, net of tax	(31.2)	(35.1)
Net income (loss)	2.9	(1.9)
Total other comprehensive income (loss), net of tax	1.1	6
Total comprehensive income (loss)	4	4.1
Non-Guarantor Subsidiaries
Condensed Income Statements, Captions [Line Items]
Billboard	10.9	22.1
Transit and other	2.3	3.4
Total revenues	13.2	25.5
Operating	11.5	19.7
Selling, general and administrative	3.5	6.4
Restructuring charges	0	0
Loss on real estate assets held for sale		1.3
Net (gain) loss on dispositions	0	0
Depreciation	2.9	4.5
Amortization	0.5	0.9
Total expenses	18.4	32.8
Operating income (loss)	(5.2)	(7.3)
Interest expense, net	0	0
Other expense, net		(0.2)
Income (loss) before benefit (provision) for income taxes and equity in earnings of investee companies	(5.2)	(7.5)
Benefit (provision) for income taxes	1.8	0
Equity in earnings of investee companies, net of tax	0.1	0.1
Net income (loss)	(3.3)	(7.4)
Total other comprehensive income (loss), net of tax	1.1	6
Total comprehensive income (loss)	$ (2.2)	$ (1.4)

Condensed Consolidating Finan64

Condensed Consolidating Financial Information - Condensed Consolidating Cash Flow Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Cash Flow Statements, Captions [Line Items]
Net cash flow provided by (used for) operating activities	$ 32.2	$ 33.8
Capital expenditures	(16.6)	(14.4)
Acquisitions	(0.9)	(60.5)
Net proceeds from dispositions	0.1	0.3
Net cash flow provided by (used for) investing activities	(17.4)	(74.6)
Proceeds from long-term borrowings - term loan	8.3	0
Proceeds from borrowings under revolving credit facility	0	35
Deferred financing costs	(7)	(0.4)
Proceeds from stock option exercises	1.2	0
Taxes withheld for stock-based compensation	(6)	(5.1)
Dividends	(50.2)	(47.1)
Intercompany	0	0
Other	(0.2)	(0.2)
Net cash flow provided by (used for) financing activities	(53.9)	(17.8)
Effect of exchange rate changes on cash and cash equivalents	0.2	0.2
Net decrease in cash and cash equivalents	(38.9)	(58.4)
Cash and cash equivalents at beginning of period	65.2	101.6
Cash and cash equivalents at end of period	26.3	43.2
Eliminations
Condensed Cash Flow Statements, Captions [Line Items]
Net cash flow provided by (used for) operating activities	0	0
Capital expenditures	0	0
Acquisitions	0	0
Net proceeds from dispositions	0	0
Net cash flow provided by (used for) investing activities	0	0
Proceeds from long-term borrowings - term loan	0
Proceeds from borrowings under revolving credit facility		0
Deferred financing costs	0	0
Proceeds from stock option exercises	0
Taxes withheld for stock-based compensation	0	0
Dividends	0	0
Intercompany	0	0
Other	0	0
Net cash flow provided by (used for) financing activities	0	0
Effect of exchange rate changes on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent Company
Condensed Cash Flow Statements, Captions [Line Items]
Net cash flow provided by (used for) operating activities	(0.4)	(0.4)
Capital expenditures	0	0
Acquisitions	0	0
Net proceeds from dispositions	0	0
Net cash flow provided by (used for) investing activities	0	0
Proceeds from long-term borrowings - term loan	0
Proceeds from borrowings under revolving credit facility		0
Deferred financing costs	0	0
Proceeds from stock option exercises	1.2
Taxes withheld for stock-based compensation	0	0
Dividends	(50.2)	(47.1)
Intercompany	49.4	47.5
Other	0	0
Net cash flow provided by (used for) financing activities	0.4	0.4
Effect of exchange rate changes on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Subsidiary Issuer
Condensed Cash Flow Statements, Captions [Line Items]
Net cash flow provided by (used for) operating activities	(18.9)	(19.6)
Capital expenditures	0	0
Acquisitions	0	0
Net proceeds from dispositions	0	0
Net cash flow provided by (used for) investing activities	0	0
Proceeds from long-term borrowings - term loan	8.3
Proceeds from borrowings under revolving credit facility		35
Deferred financing costs	(7)	(0.4)
Proceeds from stock option exercises	0
Taxes withheld for stock-based compensation	0	0
Dividends	0	0
Intercompany	22.4	(86.8)
Other	0	0
Net cash flow provided by (used for) financing activities	23.7	(52.2)
Effect of exchange rate changes on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	4.8	(71.8)
Cash and cash equivalents at beginning of period	11.4	81.6
Cash and cash equivalents at end of period	16.2	9.8
Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Net cash flow provided by (used for) operating activities	49.6	57.2
Capital expenditures	(15.8)	(13.5)
Acquisitions	(0.9)	(60.5)
Net proceeds from dispositions	0.1	0.3
Net cash flow provided by (used for) investing activities	(16.6)	(73.7)
Proceeds from long-term borrowings - term loan	0
Proceeds from borrowings under revolving credit facility		0
Deferred financing costs	0	0
Proceeds from stock option exercises	0
Taxes withheld for stock-based compensation	(6)	(5.1)
Dividends	0	0
Intercompany	(59.4)	35.2
Other	(0.2)	(0.2)
Net cash flow provided by (used for) financing activities	(65.6)	29.9
Effect of exchange rate changes on cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(32.6)	13.4
Cash and cash equivalents at beginning of period	35.8	8.5
Cash and cash equivalents at end of period	3.2	21.9
Non-Guarantor Subsidiaries
Condensed Cash Flow Statements, Captions [Line Items]
Net cash flow provided by (used for) operating activities	1.9	(3.4)
Capital expenditures	(0.8)	(0.9)
Acquisitions	0	0
Net proceeds from dispositions	0	0
Net cash flow provided by (used for) investing activities	(0.8)	(0.9)
Proceeds from long-term borrowings - term loan	0
Proceeds from borrowings under revolving credit facility		0
Deferred financing costs	0	0
Proceeds from stock option exercises	0
Taxes withheld for stock-based compensation	0	0
Dividends	0	0
Intercompany	(12.4)	4.1
Other	0	0
Net cash flow provided by (used for) financing activities	(12.4)	4.1
Effect of exchange rate changes on cash and cash equivalents	0.2	0.2
Net decrease in cash and cash equivalents	(11.1)	0
Cash and cash equivalents at beginning of period	18	11.5
Cash and cash equivalents at end of period	$ 6.9	$ 11.5