Outfront Media (OUT) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 04, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Quarterly period ended	Mar. 31, 2021
Document Transition Report	false
Commission File Number	001-36367
Exact name of registrant as specified in its charter	OUTFRONT Media Inc.
State or other jurisdiction of incorporation or organization	MD
I.R.S. Employer Identification No.	46-4494703
Entity Address, Address Line One	405 Lexington Avenue, 17th Floor
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Zip Code	10174
City Area Code	212
Registrant's telephone number, including area code	297-6400
Title of 12(b) Security	Common Stock, $0.01, par value
Trading Symbol	OUT
Security Exchange Name	NYSE
Filed all reports required to be filed by Section 13 or 15(d)	Yes
Entity Interactive Data Current	Yes
Entity filer category	Large Accelerated Filer
Entity Small Business	false
Emerging growth company	false
Entity Shell Company	false
Shares outstanding (shares)		145,539,929
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Central Index Key	0001579877

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 560	$ 710.4
Restricted cash	1.6	1.6
Receivables, less allowance ($22.7 in 2021 and $26.3 in 2020)	164.9	209.2
Prepaid lease and franchise costs	9.1	5.4
Other prepaid expenses	13.9	14.4
Other current assets	28	33.7
Total current assets	777.5	974.7
Noncurrent assets:
Property and equipment, net	629.2	634.2
Goodwill	2,078	2,077.8
Intangible assets	545.8	547.5
Operating lease assets	1,437.7	1,421.3
Prepaid MTA equipment deployment costs	208.2	204.6
Other assets	37.5	36.8
Total assets	5,713.9	5,896.9
Current liabilities:
Accounts payable	56.8	64.9
Accrued compensation	30.9	35
Accrued interest	17.5	24.5
Accrued lease and franchise costs	39.1	65.8
Other accrued expenses	40	38
Deferred revenues	42.3	29.5
Short-term debt	0	80
Short-term operating lease liabilities	185.7	176.5
Other current liabilities	20.4	20.7
Total current liabilities	432.7	534.9
Noncurrent liabilities:
Long-term debt, net	2,616.6	2,620.8
Deferred income tax liabilities, net	13.2	14.6
Asset retirement obligation	36.1	35.9
Operating lease liabilities	1,258.4	1,252
Other liabilities	52.7	55
Total liabilities	4,409.7	4,513.2
Commitments and contingencies
Preferred stock (2021 - 50.0 shares authorized, and 0.4 shares of Series A Preferred Stock issued and outstanding; 2020 - 50.0 shares authorized and 0.4 shares of Series A Preferred Stock issued and outstanding)	383.4	383.4
Stockholders’ equity:
Common stock (2021 - 450.0 shares authorized, and 145.5 shares issued and outstanding; 2020 - 450.0 shares authorized, and 144.5 issued and outstanding)	1.5	1.4
Additional paid-in capital	2,095.5	2,090.8
Distribution in excess of earnings	(1,175.1)	(1,100.4)
Accumulated other comprehensive loss	(15.5)	(18)
Total stockholders' equity	906.4	973.8
Non-controlling interests	14.4	26.5
Total equity	1,304.2	1,383.7
Total liabilities and equity	$ 5,713.9	$ 5,896.9

Consolidated Statement of Finan

Consolidated Statement of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 22.7	$ 26.3
Preferred stock authorized (shares)	50,000,000	50,000,000
Series A Preferred Stock issued (shares)	400,000	400,000
Series A Preferred Stock outstanding (shares)	400,000	400,000
Common stock authorized (shares)	450,000,000	450,000,000
Common stock issued (shares)	145,538,216	144,500,000
Common stock outstanding (shares)	145,500,000	144,500,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Billboard	$ 223.6	$ 270.9
Transit and other	35.6	114.4
Total revenues	259.2	385.3
Expenses:
Operating	177.6	224.8
Selling, general and administrative	76.5	90.8
Net gain on dispositions	(0.3)	(0.1)
Depreciation	20	21
Amortization	16.4	15
Total expenses	290.2	351.5
Operating income (loss)	(31)	33.8
Interest expense, net	(34.6)	(29.8)
Loss on extinguishment of debt	(6.3)	0
Other income, net	0	0.2
Income (loss) before benefit for income taxes and equity in earnings of investee companies	(71.9)	4.2
Benefit for income taxes	4.7	1.7
Equity in earnings of investee companies, net of tax	(0.4)	0.4
Net income (loss) before allocation to non-controlling interests	(67.6)	6.3
Net income attributable to non-controlling interests	0.1	0.2
Net income (loss) attributable to OUTFRONT Media Inc.	$ (67.7)	$ 6.1
Net income (loss) per common share:
Basic (in dollars per share)	$ (0.52)	$ 0.04
Diluted (in dollars per share)	$ (0.52)	$ 0.04
Weighted average shares outstanding:
Basic (in shares)	144.8	143.9
Diluted (in shares)	144.8	144.7

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss) before allocation to non-controlling interests	$ (67.6)	$ 6.3
Net income attributable to non-controlling interests	0.1	0.2
Net income (loss) attributable to OUTFRONT Media Inc.	(67.7)	6.1
Other comprehensive loss, net of tax:
Cumulative translation adjustments	1.3	(10.5)
Net actuarial gain	0	0.7
Change in fair value of interest rate swap agreements	1.2	(4.3)
Total other comprehensive loss, net of tax	2.5	(14.1)
Total comprehensive loss	$ (65.2)	$ (8)

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Series A Preferred Stock	Series A Preferred Stock	Common stock	Additional Paid-In Capital	Distribution in Excess of Earnings	Distribution in Excess of EarningsSeries A Preferred Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Total stockholders' equity at Dec. 31, 2019	$ 1,093.8			$ 1.4	$ 2,074.7	$ (964.6)		$ (17.7)
Non-controlling interests at Dec. 31, 2019									$ 32.6
Total equity at Dec. 31, 2019	1,126.4
Common stock outstanding (shares) at Dec. 31, 2019				143,600,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to OUTFRONT Media Inc.	6.1					6.1
Net income attributable to non-controlling interests	0.2								0.2
Net income (loss) before allocation to non-controlling interests	6.3
Other comprehensive income (loss)	(14.1)							(14.1)
Other comprehensive income (loss) - total equity	(14.1)
Stock-based payments: Vested (shares)				1,000,000
Stock-based payments: Amortization	5.8				5.8
Shares paid for tax withholding for stock-based payments (shares)				(400,000)
Shares paid for tax withholding for stock-based payments	(12.1)				(12.1)
Class A equity interest redemptions (shares)				200,000
Class A equity interest redemptions	4.4				4.4
Decrease in non-controlling interests due to redemptions									(4.4)
Dividends	(55.3)					(55.3)
Total stockholders' equity at Mar. 31, 2020	1,028.6			$ 1.4	2,072.8	(1,013.8)		(31.8)
Non-controlling interests at Mar. 31, 2020									28.4
Total equity at Mar. 31, 2020	$ 1,057
Common stock outstanding (shares) at Mar. 31, 2020				144,400,000
Series A Preferred Stock outstanding (shares) at Dec. 31, 2020	400,000		400,000
Series A Preferred Stock (dollars) at Dec. 31, 2020	$ 383.4		$ 383.4
Series A Preferred Stock outstanding (shares) at Mar. 31, 2021	400,000		400,000
Series A Preferred Stock (dollars) at Mar. 31, 2021	$ 383.4		$ 383.4
Total stockholders' equity at Dec. 31, 2020	973.8			$ 1.4	2,090.8	(1,100.4)		(18)
Non-controlling interests at Dec. 31, 2020	26.5								26.5
Total equity at Dec. 31, 2020	$ 1,383.7
Common stock outstanding (shares) at Dec. 31, 2020	144,500,000			144,500,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to OUTFRONT Media Inc.	$ (67.7)					(67.7)
Net income attributable to non-controlling interests	0.1								0.1
Net income (loss) before allocation to non-controlling interests	(67.6)
Other comprehensive income (loss)	2.5							2.5
Other comprehensive income (loss) - total equity	2.5
Stock-based payments: Vested (shares)				1,000,000
Stock-based payments: Vested	0.1			$ 0.1
Stock-based payments: Amortization	6				6
Shares paid for tax withholding for stock-based payments (shares)				(500,000)
Shares paid for tax withholding for stock-based payments	(8.7)				(8.7)
Class A equity interest redemptions (shares)				500,000
Class A equity interest redemptions	10.7				10.7
Decrease in non-controlling interests due to redemptions									(10.7)
Dividends		$ (7)					$ (7)
Other stockholders equity	(3.3)				(3.3)
Other	(4.8)
Noncontrolling interests - Other									(1.5)
Total stockholders' equity at Mar. 31, 2021	906.4			$ 1.5	$ 2,095.5	$ (1,175.1)		$ (15.5)
Non-controlling interests at Mar. 31, 2021	14.4								$ 14.4
Total equity at Mar. 31, 2021	$ 1,304.2
Common stock outstanding (shares) at Mar. 31, 2021	145,500,000			145,500,000

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Unaudited) (Parenthetical)	3 Months Ended
	Mar. 31, 2020$ / shares
Statement of Stockholders' Equity [Abstract]
Common stock, par value per share ($ per share)	$ 0.01
Dividends declared per common share ($ per share)	$ 0.38

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Operating Activities:
Net income (loss) attributable to OUTFRONT Media Inc.	$ (67.7)	$ 6.1
Adjustments to reconcile net income (loss) to net cash flow provided by (used for) operating activities:
Net income attributable to non-controlling interests	0.1	0.2
Depreciation and amortization	36.4	36	[1]
Deferred tax benefit	(5.2)	(1.8)
Stock-based compensation	6	5.8
Provision for doubtful accounts	(2.8)	8.1
Accretion expense	0.7	0.6
Net gain on dispositions	(0.3)	(0.1)
Loss on extinguishment of debt	6.3	0
Equity in earnings of investee companies, net of tax	0.4	(0.4)
Distributions from investee companies	0.3	1.2
Amortization of deferred financing costs and debt discount and premium	1.9	1.3
Change in assets and liabilities, net of investing and financing activities:
Decrease in receivables	47.2	19.7
Increase in prepaid MTA equipment deployment costs	(3.6)	(18.2)
(Increase) decrease in prepaid expenses and other current assets	1.2	(2.8)
Decrease in accounts payable and accrued expenses	(46.1)	(46)
Increase in operating lease assets and liabilities	0.4	1.3
Increase in deferred revenues	12.8	11.1
Decrease in income taxes	(0.1)	(0.7)
Other, net	1.3	(6.5)
Net cash flow provided by (used for) operating activities	(10.8)	14.9
Investing Activities:
Capital expenditures	(9.4)	(18.2)
Acquisitions	(15.8)	(6.6)
MTA franchise rights	(4.2)	(2.8)
Net proceeds from dispositions	1.1	0.3
Return of investment in investee companies	0	0.6
Net cash flow provided by (used for) investing activities	(28.3)	(26.7)
Financing Activities:
Proceeds from long-term debt borrowings	500	495
Repayments of long-term debt borrowings	(500)	0
Proceeds from borrowings under short-term debt facilities	0	15
Repayments of borrowings under short-term debt facilities	(80)	0
Payments of deferred financing costs	(7.1)	(0.4)
Payments of debt extinguishment charges	(4.7)	0
Taxes withheld for stock-based compensation	(8.8)	(11.8)
Dividends	(7.3)	(55.6)
Other	(3.7)	0
Net cash flow provided by (used for) financing activities	(111.6)	442.2
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0.3	(1.7)
Net increase (decrease) in cash, cash equivalents and restricted cash	(150.4)	428.7
Cash, cash equivalents and restricted cash at beginning of period	712	60.9
Cash, cash equivalents and restricted cash at end of period	561.6	489.6
Supplemental disclosure of cash flow Information:
Cash paid for income taxes	0.5	0.8
Cash paid for interest	39.9	37.5
Non-cash investing and financing activities:
Accrued purchases of property and equipment	3.8	9.7
Accrued MTA franchise rights	7	5
Taxes withheld for stock-based compensation	$ 0	$ 0.2
[1]	Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $11.3 million in the three months ended March 31, 2020, of which $10.8 million was recorded in our U.S. Media segment and $0.5 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA.

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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. In total, we have displays in all of the 25 largest markets in the U.S. and approximately 150 markets across the U.S. and Canada. We currently manage our operations through two operating segments—U.S. Billboard and Transit, which is included in our U.S. Media reportable segment, and International. In the third quarter of 2020, we sold all of our equity interests in certain of our subsidiaries (the “Sports Disposition”), which held all of the assets of our Sports Marketing operating segment, for a purchase price of approximately $34.6 million in cash, subject to closing and post-closing adjustments. The Sports Marketing operating segment was the marketing and multimedia rights holder for a variety of colleges, universities and other educational institutions across the United States. The operating results of our Sports Marketing operating segment through June 30, 2020, are included in our Consolidated Financial Statements. 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. Consistent with 2021, amortization of direct lease acquisition costs previously reported in Amortization have been reclassified to conform with the current period’s presentation. The impact of the reclassification is a decrease in Amortization of $11.3 million in the three months ended March 31, 2020, and a corresponding increase in Selling, general and administrative expenses (“SG&A”) on the Consolidated Statement of Operations. 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, 2020, filed with the SEC on February 26, 2021. 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 at 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, including the impact of extraordinary events such as the novel coronavirus (“COVID-19”) pandemic, 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 materially from these estimates under different assumptions or conditions, including the severity and duration of the COVID-19 pandemic. The COVID-19 pandemic and the related preventative measures taken to help curb the spread, have had, and may continue to have, a significant impact on the global economy and our business. Given the uncertainty around the severity and duration of the COVID-19 pandemic and the measures taken, or may be taken, in response to the COVID-19 pandemic, the Company cannot reasonably estimate the full impact of the COVID-19 pandemic on our business, financial condition and results of operations at this time, which may be material.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards Adoption of New Accounting Standards In the first quarter of 2021, we adopted the Financial Accounting Standards Board’s (the “FASB’s”) guidance for simplifying the accounting for income taxes by removing certain exceptions to the general principles of Accounting Standards Codification Topic 740, Income Taxes . The adoption of this guidance did not have a material effect on our consolidated financial statements.

Restricted Cash

Restricted Cash	3 Months Ended
	Mar. 31, 2021
Restricted Cash [Abstract]
Restricted Cash	Restricted Cash We have an escrow agreement in connection with one of our transit franchise contracts, which requires us to deposit funds into an escrow account to fund capital expenditures over the term of the transit franchise contract. As of March 31, 2021, we have $1.6 million of restricted cash deposited in the escrow account. As of (in millions) March 31, March 31, December 31, 2020 Cash and cash equivalents $ 560.0 $ 487.8 $ 710.4 Restricted cash 1.6 1.8 1.6 Cash, cash equivalents and restricted cash $ 561.6 $ 489.6 $ 712.0

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net 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 $ 102.6 $ 98.0 Buildings 20 to 40 years 48.6 48.3 Advertising structures 5 to 20 years 1,908.3 1,897.7 Furniture, equipment and other 3 to 10 years 170.7 168.5 Construction in progress 24.1 25.1 2,254.3 2,237.6 Less: Accumulated depreciation 1,625.1 1,603.4 Property and equipment, net $ 629.2 $ 634.2

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [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, 2021: Permits and leasehold agreements $ 1,200.4 $ (787.9) $ 412.5 Franchise agreements 519.1 (388.6) 130.5 Other intangible assets 22.1 (19.3) 2.8 Total intangible assets $ 1,741.6 $ (1,195.8) $ 545.8 As of December 31, 2020: Permits and leasehold agreements $ 1,190.0 $ (777.1) $ 412.9 Franchise agreements 514.7 (383.7) 131.0 Other intangible assets 45.8 (42.2) 3.6 Total intangible assets $ 1,750.5 $ (1,203.0) $ 547.5 All of our intangible assets, except goodwill, are subject to amortization. Amortization expense was $16.4 million in the three months ended March 31, 2021, and $15.0 million in the three months ended March 31, 2020.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases Lessee As of March 31, 2021, we have operating lease assets of $1.4 billion, short-term operating lease liabilities of $185.7 million and non-current operating lease liabilities of $1.3 billion. As of December 31, 2020, we had operating lease assets of $1.4 billion, short-term operating lease liabilities of $176.5 million and non-current operating lease liabilities of $1.3 billion. As of March 31, 2021, the weighted-average remaining lease term was 10.5 years and the weighted-average discount rate was 5.4%. For the three months ended March 31, 2021, we recorded operating lease costs of $93.7 million in Operating expenses and $2.1 million in Selling, general and administrative expenses. For the three months ended March 31, 2021, these costs include $13.9 million of variable operating lease costs. For the three months ended March 31, 2020, we recorded operating lease costs of $102.5 million in Operating expenses and $2.2 million in Selling, general and administrative expenses. For the three months ended March 31, 2020, these costs include $22.1 million of variable operating lease costs. For each of the three months ended March 31, 2021 and 2020, sublease income was immaterial. For the three months ended March 31, 2021, cash paid for operating leases was $97.9 million and leased assets obtained in exchange for new operating lease liabilities was $69.1 million. For the three months ended March 31, 2020, cash paid for operating leases was $108.6 million and leased assets obtained in exchange for new operating lease liabilities was $77.2 million. Lessor We recorded rental income of $215.8 million for the three months ended March 31, 2021, and $262.3 million for the three months ended March 31, 2020, in Revenues

Asset Retirement Obligation

Asset Retirement Obligation	3 Months Ended
	Mar. 31, 2021
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, 2020 $ 35.9 Accretion expense 0.7 Additions 0.1 Liabilities settled (0.6) As of March 31, 2021 $ 36.1

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
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 four joint ventures which currently operate a total of seven billboard displays in New York and Boston. All of these joint ventures are accounted for as equity investments. These investments totaled $9.8 million as of March 31, 2021, and $10.5 million as of December 31, 2020, 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 $1.1 million in the three months ended March 31, 2021, and $1.5 million in the three months ended March 31, 2020.

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt, net, consists of the following: As of (in millions, except percentages) March 31, December 31, Short-term debt: Repurchase Facility $ — $ 80.0 Total short-term debt — 80.0 Long-term debt: Term loan, due 2026 597.9 597.8 Senior unsecured notes: 5.625% senior unsecured notes, due 2024 — 501.3 6.250% senior unsecured notes, due 2025 400.0 400.0 5.000% senior unsecured notes, due 2027 650.0 650.0 4.250% senior unsecured notes, due 2029 500.0 — 4.625% senior unsecured notes, due 2030 500.0 500.0 Total senior unsecured notes 2,050.0 2,051.3 Debt issuance costs (31.3) (28.3) Total long-term debt, net 2,616.6 2,620.8 Total debt, net $ 2,616.6 $ 2,700.8 Weighted average cost of debt 4.3 % 4.5 % Term Loan The interest rate on the term loan due in 2026 (the “Term Loan”) was 1.9% per annum as of March 31, 2021. As of March 31, 2021, a discount of $2.1 million on the Term Loan remains unamortized. The discount is being amortized through Interest expense, net , on the Consolidated Statement of Operations. Revolving Credit Facility We also have a $500.0 million revolving credit facility, which matures in 2024 (the “Revolving Credit Facility,” together with the Term Loan, the “Senior Credit Facilities”). As of March 31, 2021, there were no outstanding borrowings under the Revolving Credit Facility. The commitment fee based on the amount of unused commitments under the Revolving Credit Facility was $0.4 million in the three months ended March 31, 2021, and $0.3 million in the three months ended March 31, 2020. As of March 31, 2021, we had issued letters of credit totaling approximately $2.1 million against the letter of credit facility sublimit under the Revolving Credit Facility. Standalone Letter of Credit Facilities As of March 31, 2021, we had issued letters of credit totaling approximately $72.0 million under our aggregate $78.0 million standalone letter of credit facilities. The total fees under the letter of credit facilities were immaterial in each of the three months ended March 31, 2021 and 2020. Accounts Receivable Securitization Facilities As of March 31, 2021, we have a revolving accounts receivable securitization facility (the “AR Facility”), which terminates in June 2022, unless further extended, and a 364-day uncommitted structured repurchase facility (the “Repurchase Facility” and together with the AR Facility, the “AR Securitization Facilities”), which terminates in June 2021, unless further extended. In connection with the AR Securitization Facilities, Outfront Media LLC and Outfront Media Outernet Inc., each a wholly-owned subsidiary of the Company, and certain of the Company’s taxable REIT subsidiaries (“TRSs”) (the “Originators”), will sell and/or contribute their respective existing and future accounts receivable and certain related assets to either Outfront Media Receivables LLC, a special purpose vehicle and wholly-owned subsidiary of the Company relating to the Company’s qualified REIT subsidiary accounts receivable assets (the “QRS SPV”) or Outfront Media Receivables TRS, LLC a special purpose vehicle and wholly-owned subsidiary of the Company relating to the Company’s TRS accounts receivable assets (the “TRS SPV” and together with the QRS SPV, the “SPVs”). The SPVs may transfer undivided interests in their respective accounts receivable assets to certain purchasers from time to time (the “Purchasers”). The SPVs are separate legal entities with their own separate creditors who will be entitled to access the SPVs’ assets before the assets become available to the Company. Accordingly, the SPVs’ assets are not available to pay creditors of the Company or any of its subsidiaries, although collections from the receivables in excess of amounts required to repay the Purchasers and other creditors of the SPVs may be remitted to the Company. Outfront Media LLC will service the accounts receivables on behalf of the SPVs for a fee. The Company has agreed to guarantee the performance of the Originators and Outfront Media LLC, in its capacity as servicer, of their respective obligations under the agreements governing the AR Facility. Neither the Company, the Originators nor the SPVs guarantee the collectability of the receivables under the AR Facility. Further, the TRS SPV and the QRS SPV are jointly and severally liable for their respective obligations under the agreements governing the AR Facility. In connection with the Repurchase Facility, the Originators may borrow funds collateralized by subordinated notes (the “Subordinated Notes”) issued by the SPVs in favor of their respective Originators and representing a portion of the outstanding balance of the accounts receivable assets sold by the Originators to the SPVs under the AR Facility. The Subordinated Notes will be transferred to MUFG, as repurchase buyer, on an uncommitted basis, and subject to repurchase by the applicable Originators on termination of the Repurchase Facility. The Originators have granted MUFG a security interest in the Subordinated Notes to secure their obligations under the agreements governing the Repurchase Facility, and the Company has agreed to guarantee the Originators’ obligations under the agreements governing the Repurchase Facility. As of March 31, 2021, there were no outstanding borrowings under either the AR Facility or the Repurchase Facility. As of March 31, 2021, there was no borrowing capacity remaining under the AR Facility based on approximately $207.9 million of accounts receivable used as collateral for the AR Securitization Facilities and a related voluntary temporary suspension of the AR Facility, and there was $80.0 million of borrowing capacity remaining under the Repurchase Facility, in accordance with the agreements governing the AR Securitization Facilities. The commitment fee based on the amount of unused commitments under the AR Facility was immaterial for each of the three months ended March 31, 2021 and 2020. Senior Unsecured Notes On January 19, 2021, two of our wholly-owned subsidiaries, Outfront Media Capital LLC (“Finance LLC”) and Outfront Media Capital Corporation (“Finance Corp” and, together with Finance LLC, the “Borrowers”) issued $500.0 million aggregate principal amount of 4.250% Senior Unsecured Notes due 2029 (the “2029 Notes”) in a private placement. The 2029 Notes are fully and unconditionally guaranteed on a senior unsecured basis by the Company and each of its direct and indirect domestic subsidiaries that guarantee the Senior Credit Facilities. Interest on the 2029 Notes is payable on January 15 and July 15 of each year, beginning on July 15, 2021. On or after January 15, 2024, the Borrowers may redeem at any time, or from time to time, some or all of the 2029 Notes. Prior to such date, the Borrowers may redeem up to 40% of the aggregate principal amount with the net proceeds of certain equity offerings, provided that at least 50% of the aggregate principal amount of the 2029 Notes will remain outstanding after the redemption. On February 16, 2021, we used the net proceeds from the issuance of the 2029 Notes, together with cash on hand, to redeem all of our outstanding 5.625% Senior Unsecured Notes due 2024 (the “2024 Notes”) and to pay accrued and unpaid interest on the 2024 Notes, if any, to, but excluding, the redemption date, and to pay fees and expenses in connection with the 2029 Notes offering and the 2024 Notes redemption. In the first quarter of 2021, we recorded a Loss on extinguishment of debt of $6.3 million relating to the 2024 Notes on the Consolidated Statement of Operations. Debt Covenants Our credit agreement, dated as of January 31, 2014 (as amended, supplemented or otherwise modified, the “Credit Agreement”), governing the Senior Credit Facilities, the agreements governing the AR Securitization Facilities, 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 restrict the Company’s and its subsidiaries’ abilities to (i) pay dividends on, repurchase or make distributions in respect to the Company’s or its wholly-owned subsidiary, Outfront Media Capital LLC’s (“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 exceptions, (ii) enter into agreements restricting certain subsidiaries’ ability to pay dividends or make other intercompany or third-party transfers, and (iii) incur additional indebtedness. One of the exceptions to the restriction on our ability to incur additional indebtedness is satisfaction of a Consolidated Total Leverage Ratio, which is the ratio of our consolidated total debt to our Consolidated EBITDA (as defined in the Credit Agreement) for the trailing four consecutive quarters, of no greater than 6.0 to 1.0. As of March 31, 2021, our Consolidated Total Leverage Ratio was 12.7 to 1.0 in accordance with the Credit Agreement. The terms of the Credit Agreement (and under certain circumstances, the agreements governing the AR Securitization Facilities) require that 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 4.5 to 1.0. As of March 31, 2021, our Consolidated Net Secured Leverage Ratio was 1.1 to 1.0 in accordance with the Credit Agreement. As of March 31, 2021, we are in compliance with our debt covenants. On April 15, 2020, the Company, along with the Borrowers, and other guarantor subsidiaries party thereto, entered into an amendment (the “Amendment”) to the Credit Agreement. The Amendment provides that for the period from April 15, 2020 through September 30, 2021 (i) the Company’s Consolidated Net Secured Leverage Ratio shall be calculated by substituting the Company’s Consolidated EBITDA for each of the quarterly periods ended June 30, 2020 and September 30, 2020, included in any last twelve month compliance testing period, with the Company’s historical Consolidated EBITDA for each of the quarterly periods ended June 30, 2019 and September 30, 2019, respectively; and (ii) the Company will not make any Restricted Payments (as defined in the Credit Agreement) without the consent of the applicable lenders under the Credit Agreement, subject to certain exceptions such as payments necessary to maintain the Company’s REIT status, including any payments on any class of the Company’s capital stock that is required to be made prior to the payment of a dividend or distribution on the Company’s common stock and the Company’s existing payment obligations to holders of the Class A equity interests in Outfront Canada (as defined in Note 10. Equity to the Consolidated Financial Statements). Deferred Financing Costs As of March 31, 2021, we had deferred $35.1 million in fees and expenses associated with the Term Loan, Revolving Credit Facility, AR Securitization Facilities and our senior unsecured notes. We are amortizing the deferred fees through Interest expense, net, on our Consolidated Statement of Operations over the respective terms of the Term Loan, Revolving Credit Facility, AR Securitization Facilities and our senior unsecured notes. Interest Rate Swap Agreements We have several interest rate cash flow swap agreements to effectively convert a portion of our LIBOR-based variable rate debt to a fixed rate and hedge our interest rate risk related to such variable rate debt. The fair value of these swap positions was a net liability of approximately $4.3 million as of March 31, 2021, and $5.6 million as of December 31, 2020, and is included in Other liabilities on our Consolidated Statement of Financial Position. As of March 31, 2021, under the terms of these agreements, we will pay interest based on an aggregate notional amount of $200.0 million, under a weighted-average fixed interest rate of 2.7%, with a receive rate of one-month LIBOR and which mature at various dates until June 30, 2022. The one-month LIBOR rate was approximately 0.1% as of March 31, 2021.

Equity

Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Equity	Equity As of March 31, 2021, 450,000,000 shares of our common stock, par value $0.01 per share, were authorized; 145,538,216 shares were issued and outstanding; and 50,000,000 shares of our preferred stock, par value $0.01 per share, were authorized with 400,000 shares of Series A Convertible Perpetual Preferred Stock (the “Series A Preferred Stock”), par value $0.01 per share, issued and outstanding. The Series A Preferred Stock ranks senior to the shares of the Company’s common stock with respect to dividend and distribution rights. Holders of the Series A Preferred Stock are entitled to a cumulative dividend accruing at the initial rate of 7.0% per year, payable quarterly in arrears, subject to increases as set forth in the Articles Supplementary, effective as of April 20, 2020 (the “Articles”). Dividends may, at the option of the Company, be paid in cash, in-kind, through the issuance of additional shares of Series A Preferred Stock or a combination of cash and in-kind, until April 20, 2028, after which time dividends will be payable solely in cash. So long as any shares of Series A Preferred Stock remain outstanding, the Company may not declare a dividend on, or make any distributions relating to, capital stock that ranks junior to, or on a parity basis with, the Series A Preferred Stock, subject to certain exceptions, including but not limited to (i) any dividend or distribution in cash or capital stock of the Company on or in respect of the capital stock of the Company to the extent that such dividend or distribution is necessary to maintain the Company’s status as a REIT; and (ii) any dividend or distribution in cash in respect of our common stock that, together with the dividends or distributions during the 12-month period immediately preceding such dividend or distribution, is not in excess of 5% of the aggregate dividends or distributions paid by the Company necessary to maintain its REIT status during such 12-month period. If any dividends or distributions in respect of the shares of our common stock are paid in cash, the shares of Series A Preferred Stock will participate in the dividends or distributions on an as-converted basis up to the amount of their accrued dividend for such quarter, which amounts will reduce the dividends payable on the shares of Series A Preferred Stock dollar-for-dollar for such quarter. The Series A Preferred Stock is convertible at the option of any holder at any time into shares of our common stock at an initial conversion price of $16.00 per share and an initial conversion rate of 62.50 shares of our common stock per share of Series A Preferred Stock, subject to certain anti-dilution adjustments and a share cap as set forth in the Articles. Subject to certain conditions set forth in the Articles (including a change of control), each of the Company and the holders of the Series A Preferred Stock may convert or redeem the Series A Preferred Stock at the prices set forth in the Articles, plus any accrued and unpaid dividends. During the three months ended March 31, 2021, we paid cash dividends of $7.0 million on the Series A Preferred Stock. As of March 31, 2021, the maximum number of shares of common stock that could be required to be issued on conversion of the outstanding shares of Series A Preferred Stock was 25.0 million shares. In connection with the acquisition of outdoor advertising assets in Canada in June 2017, the Company issued 1,953,407 shares of Class A equity interests of a subsidiary of the Company that controls its Canadian business (“Outfront Canada”). The Class A equity interests are entitled to receive priority cash distributions from Outfront Canada at the same time and in the same per share amount as the dividends paid on shares of the Company’s common stock. The Class A equity interests may be redeemed by the holders in exchange for shares of the Company’s common stock on a one-for-one basis (subject to anti-dilution adjustments) or, at the Company’s option, cash equal to the then fair market value of the shares of the Company’s common stock. The Company is also subject to limitations on its ability to sell or otherwise dispose of the assets acquired in Canada until June 2022, unless it pays holders of the Class A equity interests in Outfront Canada an amount intended to approximate their resulting tax liability, plus a tax gross-up.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table summarizes revenues by source: Three Months Ended March 31, (in millions) 2021 2020 Billboard: Static displays $ 165.1 $ 201.1 Digital displays 49.3 60.4 Other 9.2 9.4 Billboard revenues 223.6 270.9 Transit: Static displays 23.9 65.1 Digital displays 6.4 27.7 Other 4.6 7.4 Total transit revenues 34.9 100.2 Sports marketing and other 0.7 14.2 Transit and other revenues 35.6 114.4 Total revenues $ 259.2 $ 385.3 Rental income was $215.8 million in the three months ended March 31, 2021, and $262.3 million in the three months ended March 31, 2020, and is recorded in Billboard revenues on the Consolidated Statement of Operations. The following table summarizes revenues by geography: Three Months Ended March 31, (in millions) 2021 2020 United States: Billboard $ 212.5 $ 256.5 Transit and other 32.9 98.2 Sports marketing and other 0.7 14.2 Total United States revenues 246.1 368.9 Canada 13.1 16.4 Total revenues $ 259.2 $ 385.3 We recognized substantially all of the Deferred revenues on the Consolidated Statement of Financial Position as of December 31, 2020, during the three months ended March 31, 2021.

Restructuring Charges

Restructuring Charges	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges As of March 31, 2021, $1.0 million in restructuring reserves remain outstanding and is included in Other current liabilities

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions	Acquisitions We completed several asset acquisitions for a total purchase price of approximately $15.8 million in the three months ended March 31, 2021, and $6.6 million in the three months ended March 31, 2020. In the second quarter of 2018, we entered into an agreement to acquire 14 digital and seven static billboard displays in California for a total estimated purchase price of $35.4 million. In the second quarter of 2019, we completed this acquisition except with respect to four digital displays, which we expect to acquire in 2022 for an estimated purchase price of $9.2 million, subject to customary closing conditions and the timing of site development.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation In the first quarter of 2021, the Company granted one-time equity award grants to our executive officers. The grant values of the one-time restricted share unit (“RSU”) awards were equal to 100% of each executive officer’s current base salary, and comprised of 60% performance-based RSUs (“PRSUs”), which contain a market and service condition, and 40% time-based RSUs, which only contain a service condition. The PRSU market condition will be based on the Company’s total shareholder return (“TSR”) relative to the TSRs of the companies in the iShares Evolved U.S. Media and Entertainment Index as of January 1, 2021, measured over a two The following table summarizes our stock-based compensation expense for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, (in millions) 2021 2020 Stock-based compensation expenses (RSUs and PRSUs), before income taxes $ 6.0 $ 5.8 Tax benefit (0.3) (0.4) Stock-based compensation expense, net of tax $ 5.7 $ 5.4 As of March 31, 2021, total unrecognized compensation cost related to non-vested RSUs and PRSUs was $52.6 million, which is expected to be recognized over a weighted average period of 2.1 years. RSUs and PRSUs The following table summarizes activity for the three months ended March 31, 2021, of RSUs and PRSUs issued to our employees. Activity Weighted Average Per Share Grant Date Fair Market Value Non-vested as of December 31, 2020 2,208,059 $ 24.80 Granted: RSUs 954,350 21.48 PRSUs 567,571 23.34 Vested: RSUs (651,997) 24.55 PRSUs (239,202) 21.81 Forfeitures: RSUs (6,178) 25.48 PRSUs (259,086) 30.63 Non-vested as of March 31, 2021 2,573,517 23.00 Stock Options The following table summarizes activity for the three months ended March 31, 2021, of stock options issued to our employees. Activity Weighted Average Exercise Price Outstanding as of December 31, 2020 103,413 $ 26.39 Outstanding as of March 31, 2021 103,413 26.39 Exercisable as of March 31, 2021 103,413 26.39 As of March 31, 2021, all exercisable stock options issued to our employees were out-of-the-money based on the closing stock price of our common stock of $21.83.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [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) 2021 2020 Components of net periodic pension cost: Service cost $ 0.1 $ 0.4 Interest cost 0.5 0.7 Expected return on plan assets (0.8) (1.1) Amortization of net actuarial losses (a) 0.2 0.3 Net periodic pension cost $ — $ 0.3 (a) Reflects amounts reclassified from accumulated other comprehensive income to net income.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
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 distribute to our stockholders. We have elected to treat our subsidiaries that participate in certain non-REIT qualifying activities as TRSs. As such, we have provided for their federal, state and foreign income taxes. Tax years 2017 to present are open for examination by the tax authorities. Our effective income tax rate represents a combined annual effective tax rate for federal, state, local and foreign taxes applied to interim operating results.

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share ("EPS")	Earnings Per Share (“EPS”) Three Months Ended March 31, (in millions) 2021 2020 Net income (loss) available for common stockholders $ (67.7) $ 6.1 Less: Distributions to holders of Series A Preferred Stock 7.0 — Less: Distributions to holders of Class A equity interests of a subsidiary — 0.4 Net income (loss) available for common stockholders, basic and diluted $ (74.7) $ 5.7 Weighted average shares for basic EPS 144.8 143.9 Dilutive potential shares from grants of RSUs, PRSUs and stock options (a) — 0.8 Weighted average shares for diluted EPS 144.8 144.7 (a) The potential impact of an aggregate 1.9 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2021, and 0.5 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2020, were antidilutive. (b) The potential impact of 25.0 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the three months ended March 31, 2021, was antidilutive. (c) The potential impact of 0.8 million of Class A equity interests of Outfront Canada in the three months ended March 31, 2021, and 1.1 million of Class A equity interests of Outfront Canada in the three months ended March 31, 2020, was antidilutive. (See Note 10. Equity

Commitment and Contingencies

Commitment and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Off-Balance Sheet Arrangements Our off-balance sheet commitments primarily consist of 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 agreements with municipalities and transit operators that 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. Under the MTA agreement, we are obligated to deploy, over a number of years, (i) 8,565 digital advertising screens on subway and train platforms and entrances, (ii) 37,716 smaller-format digital advertising screens on rolling stock, and (iii) 7,829 MTA communications displays, with such deployment amounts being subject to modification as agreed-upon by us and the MTA. In addition, we are obligated to pay to the MTA the greater of a percentage of revenues or a guaranteed minimum annual payment. Incremental revenues that exceed an annual base revenue amount will be retained by us for the cost of deploying advertising and communications displays throughout the transit system. As presented in the table below, recoupable MTA equipment deployment costs are recorded as Prepaid MTA equipment deployment costs and Intangible assets on our Consolidated Statement of Financial Position, and as these costs are recouped from incremental revenues that the MTA would otherwise be entitled to receive, Prepaid MTA equipment deployment costs will be reduced. If incremental revenues generated over the term of the agreement are not sufficient to cover all or a portion of the equipment deployment costs, the costs will not be recouped, which could have an adverse effect on our business, financial condition and results of operations. We did not recoup any equipment deployment costs in the three months ended March 31, 2021, and it is unlikely we will recoup equipment deployment costs in the remainder of 2021. In June 2020, we entered into an amendment to the MTA agreement, pursuant to which, (i) for up to $143.0 million of MTA equipment deployment costs to be incurred under the MTA agreement after June 2020, the MTA and the Company will directly pay 70% and 30% of the costs, respectively, instead of the costs being recoupable from incremental revenues generated under the agreement, and (ii) any guaranteed minimum annual payment amounts that would have been paid for the period from April 1, 2020 through December 31, 2020 (less any revenue share amounts actually paid during this period using an increased revenue share percentage of 65%) will instead be added in equal increments to the guaranteed minimum annual payment amounts owed for the period from January 1, 2022, through December 31, 2026. Our payment obligations with respect to guaranteed minimum annual payment amounts owed to the MTA resumed on January 1, 2021, in accordance with the terms of the MTA agreement, as amended. We have engaged, and will continue to engage, in constructive conversations with the MTA regarding possible modifications to the overall scope and term under the MTA agreement. As of March 31, 2021, 7,645 digital displays had been installed, of which 265 installations occurred in the three months ended March 31, 2021. (in millions) Beginning Balance Deployment Costs Incurred Recoupment/MTA Funding Amortization Ending Balance Three months ended March 31, 2021: Prepaid MTA equipment deployment costs $ 204.6 $ 3.6 $ — $ — $ 208.2 Other current assets 28.0 9.1 (16.2) — 20.9 Intangible assets (franchise agreements) 58.4 4.7 — (2.5) 60.6 Total $ 291.0 $ 17.4 $ (16.2) $ (2.5) $ 289.7 Year ended December 31, 2020: Prepaid MTA equipment deployment costs $ 171.5 $ 33.1 $ — $ — $ 204.6 Other current assets — 44.4 (16.4) — 28.0 Intangible assets (franchise agreements) 38.3 26.0 — (5.9) 58.4 Total $ 209.8 $ 103.5 $ (16.4) $ (5.9) $ 291.0 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. As of March 31, 2021, the outstanding letters of credit were approximately $74.1 million and outstanding surety bonds were approximately $167.5 million, and were not recorded on the Consolidated Statements of Financial Position. Legal Matters On an ongoing basis, we are engaged in lawsuits and governmental proceedings and respond to various investigations, inquiries, notices and claims from national, state and local governmental and other authorities (collectively, “litigation”). Litigation is inherently uncertain and always difficult to predict. Although it is not possible to predict with certainty the

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information We currently manage our operations through two operating segments—U.S. Billboard and Transit, which is included in our U.S. Media reportable segment, and International. International does not meet the criteria to be a reportable segment and accordingly, is included in Other . The following tables set forth our financial performance by segment. In the third quarter of 2020, we completed the Sports Disposition. Historical operating results for our Sports Marketing operating segment through June 30, 2020, are included in Other . Three Months Ended March 31, (in millions) 2021 2020 Revenues: U.S. Media $ 245.4 $ 354.7 Other 13.8 30.6 Total revenues $ 259.2 $ 385.3 We present Operating income (loss) before Depreciation , Amortization , Net gain on dispositions and Stock-based compensation (“Adjusted OIBDA”) as the primary measure of profit and loss for our operating segments. Three Months Ended March 31, (in millions) 2021 2020 Net income (loss) before allocation to non-controlling interests $ (67.6) $ 6.3 Benefit for income taxes (4.7) (1.7) Equity in earnings of investee companies, net of tax 0.4 (0.4) Interest expense, net 34.6 29.8 Loss on extinguishment of debt 6.3 — Other income, net — (0.2) Operating income (loss) (31.0) 33.8 Net gain on dispositions (0.3) (0.1) Depreciation and amortization (a) 36.4 36.0 Stock-based compensation 6.0 5.8 Total Adjusted OIBDA (a) $ 11.1 $ 75.5 Adjusted OIBDA: U.S. Media (a) $ 24.6 $ 80.0 Other (a) (2.0) — Corporate (11.5) (4.5) Total Adjusted OIBDA (a) $ 11.1 $ 75.5 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $11.3 million in the three months ended March 31, 2020, of which $10.8 million was recorded in our U.S. Media segment and $0.5 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA. Three Months Ended March 31, (in millions) 2021 2020 Operating income (loss): U.S. Media $ (8.6) $ 47.4 Other (4.9) (3.3) Corporate (17.5) (10.3) Total operating income (loss) $ (31.0) $ 33.8 Net gain on dispositions: U.S. Media $ (0.3) $ (0.1) Total gain on dispositions $ (0.3) $ (0.1) Depreciation and amortization: U.S. Media (a) $ 33.5 $ 32.7 Other (a) 2.9 3.3 Total depreciation and amortization (a) $ 36.4 $ 36.0 Capital expenditures: U.S. Media $ 8.9 $ 17.3 Other 0.5 0.9 Total capital expenditures $ 9.4 $ 18.2 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $11.3 million in the three months ended March 31, 2020, of which $10.8 million was recorded in our U.S. Media segment and $0.5 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA. As of (in millions) March 31, December 31, 2020 Assets: U.S. Media $ 4,950.8 $ 4,977.2 Other 245.8 249.5 Corporate 517.3 670.2 Total assets $ 5,713.9 $ 5,896.9

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
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 at 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, including the impact of extraordinary events such as the novel coronavirus (“COVID-19”) pandemic, 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 materially from these estimates under different assumptions or conditions, including the severity and duration of the COVID-19 pandemic.

New Accounting Standards (Polic

New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	In the first quarter of 2021, we adopted the Financial Accounting Standards Board’s (the “FASB’s”) guidance for simplifying the accounting for income taxes by removing certain exceptions to the general principles of Accounting Standards Codification Topic 740, Income Taxes . The adoption of this guidance did not have a material effect on our consolidated financial statements.

Intangible Assets (Policies)

Intangible Assets (Policies)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
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.

Restricted Cash (Tables)

Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2021
Restricted Cash [Abstract]
Restricted Cash	As of (in millions) March 31, March 31, December 31, 2020 Cash and cash equivalents $ 560.0 $ 487.8 $ 710.4 Restricted cash 1.6 1.8 1.6 Cash, cash equivalents and restricted cash $ 561.6 $ 489.6 $ 712.0

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	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 $ 102.6 $ 98.0 Buildings 20 to 40 years 48.6 48.3 Advertising structures 5 to 20 years 1,908.3 1,897.7 Furniture, equipment and other 3 to 10 years 170.7 168.5 Construction in progress 24.1 25.1 2,254.3 2,237.6 Less: Accumulated depreciation 1,625.1 1,603.4 Property and equipment, net $ 629.2 $ 634.2

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [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, 2021: Permits and leasehold agreements $ 1,200.4 $ (787.9) $ 412.5 Franchise agreements 519.1 (388.6) 130.5 Other intangible assets 22.1 (19.3) 2.8 Total intangible assets $ 1,741.6 $ (1,195.8) $ 545.8 As of December 31, 2020: Permits and leasehold agreements $ 1,190.0 $ (777.1) $ 412.9 Franchise agreements 514.7 (383.7) 131.0 Other intangible assets 45.8 (42.2) 3.6 Total intangible assets $ 1,750.5 $ (1,203.0) $ 547.5

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	3 Months Ended
	Mar. 31, 2021
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, 2020 $ 35.9 Accretion expense 0.7 Additions 0.1 Liabilities settled (0.6) As of March 31, 2021 $ 36.1

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt, net, consists of the following: As of (in millions, except percentages) March 31, December 31, Short-term debt: Repurchase Facility $ — $ 80.0 Total short-term debt — 80.0 Long-term debt: Term loan, due 2026 597.9 597.8 Senior unsecured notes: 5.625% senior unsecured notes, due 2024 — 501.3 6.250% senior unsecured notes, due 2025 400.0 400.0 5.000% senior unsecured notes, due 2027 650.0 650.0 4.250% senior unsecured notes, due 2029 500.0 — 4.625% senior unsecured notes, due 2030 500.0 500.0 Total senior unsecured notes 2,050.0 2,051.3 Debt issuance costs (31.3) (28.3) Total long-term debt, net 2,616.6 2,620.8 Total debt, net $ 2,616.6 $ 2,700.8 Weighted average cost of debt 4.3 % 4.5 %

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes revenues by source: Three Months Ended March 31, (in millions) 2021 2020 Billboard: Static displays $ 165.1 $ 201.1 Digital displays 49.3 60.4 Other 9.2 9.4 Billboard revenues 223.6 270.9 Transit: Static displays 23.9 65.1 Digital displays 6.4 27.7 Other 4.6 7.4 Total transit revenues 34.9 100.2 Sports marketing and other 0.7 14.2 Transit and other revenues 35.6 114.4 Total revenues $ 259.2 $ 385.3
Revenue from External Customers by Geographic Areas	The following table summarizes revenues by geography: Three Months Ended March 31, (in millions) 2021 2020 United States: Billboard $ 212.5 $ 256.5 Transit and other 32.9 98.2 Sports marketing and other 0.7 14.2 Total United States revenues 246.1 368.9 Canada 13.1 16.4 Total revenues $ 259.2 $ 385.3

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	The following table summarizes our stock-based compensation expense for the three months ended March 31, 2021 and 2020. Three Months Ended March 31, (in millions) 2021 2020 Stock-based compensation expenses (RSUs and PRSUs), before income taxes $ 6.0 $ 5.8 Tax benefit (0.3) (0.4) Stock-based compensation expense, net of tax $ 5.7 $ 5.4
Activity of RSUs and PRSUs Issued to Our Employees	The following table summarizes activity for the three months ended March 31, 2021, of RSUs and PRSUs issued to our employees. Activity Weighted Average Per Share Grant Date Fair Market Value Non-vested as of December 31, 2020 2,208,059 $ 24.80 Granted: RSUs 954,350 21.48 PRSUs 567,571 23.34 Vested: RSUs (651,997) 24.55 PRSUs (239,202) 21.81 Forfeitures: RSUs (6,178) 25.48 PRSUs (259,086) 30.63 Non-vested as of March 31, 2021 2,573,517 23.00
Activity of Stock Options Issued to Our Employees	The following table summarizes activity for the three months ended March 31, 2021, of stock options issued to our employees. Activity Weighted Average Exercise Price Outstanding as of December 31, 2020 103,413 $ 26.39 Outstanding as of March 31, 2021 103,413 26.39 Exercisable as of March 31, 2021 103,413 26.39

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [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) 2021 2020 Components of net periodic pension cost: Service cost $ 0.1 $ 0.4 Interest cost 0.5 0.7 Expected return on plan assets (0.8) (1.1) Amortization of net actuarial losses (a) 0.2 0.3 Net periodic pension cost $ — $ 0.3 (a) Reflects amounts reclassified from accumulated other comprehensive income to net income.

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended March 31, (in millions) 2021 2020 Net income (loss) available for common stockholders $ (67.7) $ 6.1 Less: Distributions to holders of Series A Preferred Stock 7.0 — Less: Distributions to holders of Class A equity interests of a subsidiary — 0.4 Net income (loss) available for common stockholders, basic and diluted $ (74.7) $ 5.7 Weighted average shares for basic EPS 144.8 143.9 Dilutive potential shares from grants of RSUs, PRSUs and stock options (a) — 0.8 Weighted average shares for diluted EPS 144.8 144.7 (a) The potential impact of an aggregate 1.9 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2021, and 0.5 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2020, were antidilutive. (b) The potential impact of 25.0 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the three months ended March 31, 2021, was antidilutive. (c) The potential impact of 0.8 million of Class A equity interests of Outfront Canada in the three months ended March 31, 2021, and 1.1 million of Class A equity interests of Outfront Canada in the three months ended March 31, 2020, was antidilutive. (See Note 10. Equity

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
MTA agreement schedule	(in millions) Beginning Balance Deployment Costs Incurred Recoupment/MTA Funding Amortization Ending Balance Three months ended March 31, 2021: Prepaid MTA equipment deployment costs $ 204.6 $ 3.6 $ — $ — $ 208.2 Other current assets 28.0 9.1 (16.2) — 20.9 Intangible assets (franchise agreements) 58.4 4.7 — (2.5) 60.6 Total $ 291.0 $ 17.4 $ (16.2) $ (2.5) $ 289.7 Year ended December 31, 2020: Prepaid MTA equipment deployment costs $ 171.5 $ 33.1 $ — $ — $ 204.6 Other current assets — 44.4 (16.4) — 28.0 Intangible assets (franchise agreements) 38.3 26.0 — (5.9) 58.4 Total $ 209.8 $ 103.5 $ (16.4) $ (5.9) $ 291.0

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	The following tables set forth our financial performance by segment. In the third quarter of 2020, we completed the Sports Disposition. Historical operating results for our Sports Marketing operating segment through June 30, 2020, are included in Other . Three Months Ended March 31, (in millions) 2021 2020 Revenues: U.S. Media $ 245.4 $ 354.7 Other 13.8 30.6 Total revenues $ 259.2 $ 385.3
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income	Three Months Ended March 31, (in millions) 2021 2020 Net income (loss) before allocation to non-controlling interests $ (67.6) $ 6.3 Benefit for income taxes (4.7) (1.7) Equity in earnings of investee companies, net of tax 0.4 (0.4) Interest expense, net 34.6 29.8 Loss on extinguishment of debt 6.3 — Other income, net — (0.2) Operating income (loss) (31.0) 33.8 Net gain on dispositions (0.3) (0.1) Depreciation and amortization (a) 36.4 36.0 Stock-based compensation 6.0 5.8 Total Adjusted OIBDA (a) $ 11.1 $ 75.5 Adjusted OIBDA: U.S. Media (a) $ 24.6 $ 80.0 Other (a) (2.0) — Corporate (11.5) (4.5) Total Adjusted OIBDA (a) $ 11.1 $ 75.5 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $11.3 million in the three months ended March 31, 2020, of which $10.8 million was recorded in our U.S. Media segment and $0.5 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA.
Tabular Disclosure by Reportable Segments	Three Months Ended March 31, (in millions) 2021 2020 Operating income (loss): U.S. Media $ (8.6) $ 47.4 Other (4.9) (3.3) Corporate (17.5) (10.3) Total operating income (loss) $ (31.0) $ 33.8 Net gain on dispositions: U.S. Media $ (0.3) $ (0.1) Total gain on dispositions $ (0.3) $ (0.1) Depreciation and amortization: U.S. Media (a) $ 33.5 $ 32.7 Other (a) 2.9 3.3 Total depreciation and amortization (a) $ 36.4 $ 36.0 Capital expenditures: U.S. Media $ 8.9 $ 17.3 Other 0.5 0.9 Total capital expenditures $ 9.4 $ 18.2 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $11.3 million in the three months ended March 31, 2020, of which $10.8 million was recorded in our U.S. Media segment and $0.5 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA.
Reconciliation of Assets from Segment to Consolidated	As of (in millions) March 31, December 31, 2020 Assets: U.S. Media $ 4,950.8 $ 4,977.2 Other 245.8 249.5 Corporate 517.3 670.2 Total assets $ 5,713.9 $ 5,896.9

Description of Business and B_3

Description of Business and Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)segmentmarkets	Mar. 31, 2020USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of largest domestic markets in which the entity operates | markets	25
Approximate number of markets in which the entity operates | markets	150
Number of operating segments | segment	2
Amortization of direct lease acquisition costs | $		$ 11.3
Sports Marketing
Business Acquisition [Line Items]
Proceeds from sale of Sports Marketing operating segment | $	$ 34.6

Restricted Cash - Narrative (De

Restricted Cash - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Restricted Cash [Abstract]
Restricted cash	$ 1.6	$ 1.6	$ 1.8

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Restricted Cash [Abstract]
Cash and cash equivalents	$ 560	$ 710.4	$ 487.8
Restricted cash	1.6	1.6	1.8
Cash, cash equivalents and restricted cash	$ 561.6	$ 712	$ 489.6	$ 60.9

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Property and Equipment [Line Items]
Property and equipment	$ 2,254.3	$ 2,237.6
Less: Accumulated depreciation	1,625.1	1,603.4
Property and equipment, net	629.2	634.2
Land
Property and Equipment [Line Items]
Property and equipment	102.6	98
Buildings
Property and Equipment [Line Items]
Property and equipment	$ 48.6	$ 48.3
Buildings | Minimum
Property and Equipment [Line Items]
Property and equipment, useful life	20 years	20 years
Buildings | Maximum
Property and Equipment [Line Items]
Property and equipment, useful life	40 years	40 years
Advertising structures
Property and Equipment [Line Items]
Property and equipment	$ 1,908.3	$ 1,897.7
Advertising structures | Minimum
Property and Equipment [Line Items]
Property and equipment, useful life	5 years	5 years
Advertising structures | Maximum
Property and Equipment [Line Items]
Property and equipment, useful life	20 years	20 years
Furniture, equipment and other
Property and Equipment [Line Items]
Property and equipment	$ 170.7	$ 168.5
Furniture, equipment and other | Minimum
Property and Equipment [Line Items]
Property and equipment, useful life	3 years	3 years
Furniture, equipment and other | Maximum
Property and Equipment [Line Items]
Property and equipment, useful life	10 years	10 years
Construction in progress
Property and Equipment [Line Items]
Property and equipment	$ 24.1	$ 25.1

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 20	$ 21

Intangible Assets Schedule of F

Intangible Assets Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,741.6	$ 1,750.5
Accumulated amortization	(1,195.8)	(1,203)
Intangible assets	545.8	547.5
Permits and leasehold agreements
Finite-Lived Intangible Assets [Line Items]
Gross	1,200.4	1,190
Accumulated amortization	(787.9)	(777.1)
Intangible assets	412.5	412.9
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross	519.1	514.7
Accumulated amortization	(388.6)	(383.7)
Intangible assets	130.5	131
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	22.1	45.8
Accumulated amortization	(19.3)	(42.2)
Intangible assets	$ 2.8	$ 3.6

Intangible Assets Narrative (De

Intangible Assets Narrative (Details) - Intangible Assets - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 16.4	$ 15

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 1,437.7		$ 1,421.3
Short-term operating lease liabilities	185.7		176.5
Operating lease liabilities	$ 1,258.4		$ 1,252
Weighted average remaining lease term	10 years 6 months
Weighted average discount rate	5.40%
Variable lease costs	$ 13.9	$ 22.1
Cash paid for operating leases	97.9	108.6
Operating lease asset obtained in exchange for operating lease liability	69.1	77.2
Rental income	215.8	262.3
Operating expense
Lessee, Lease, Description [Line Items]
Operating lease costs	93.7	102.5
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 2.1	$ 2.2

Asset Retirement Obligation - N

Asset Retirement Obligation - Narrative (Details)	3 Months Ended
	Mar. 31, 2021
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, 2021USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
As of December 31, 2020	$ 35.9
Accretion expense	0.7
Additions	0.1
Liabilities settled	(0.6)
As of March 31, 2021	$ 36.1

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)joint_ventureDisplays	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	50.00%
Equity method investments | $	$ 9.8		$ 10.5
Management fee revenue | $	$ 1.1	$ 1.5
Transit shelter joint ventures
Related Party Transaction [Line Items]
Equity method investment, number of investments | joint_venture	2
Acquired businesses
Related Party Transaction [Line Items]
Equity method investment, number of investments | joint_venture	4
Equity method investment, number of displays | Displays	7

Debt - Schedule of Debt Instrum

Debt - Schedule of Debt Instruments (Details) - USD ($) $ in Millions	Jan. 19, 2021	May 15, 2020	Mar. 31, 2021	Dec. 31, 2020	Feb. 16, 2021
Debt Instrument [Line Items]
Total short-term debt			$ 0	$ 80
Long-term debt, net			2,616.6	2,620.8
Total debt, net			$ 2,616.6	$ 2,700.8
Weighted average cost of debt			4.30%	4.50%
Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Senior unsecured notes, due date			Nov. 18, 2026	Nov. 18, 2026
Senior unsecured notes | 5.625% senior unsecured notes, due 2024
Debt Instrument [Line Items]
Stated interest rate				5.625%	5.625%
Senior unsecured notes, due date			Feb. 15, 2024	Feb. 15, 2024
Senior unsecured notes | 6.250% senior unsecured notes, due 2025
Debt Instrument [Line Items]
Stated interest rate			6.25%	6.25%
Senior unsecured notes, due date		Jun. 15, 2025	Jun. 15, 2025
Senior unsecured notes | 5.000% senior unsecured notes, due 2027
Debt Instrument [Line Items]
Stated interest rate			5.00%	5.00%
Senior unsecured notes, due date			Aug. 15, 2027	Aug. 15, 2027
Senior unsecured notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Stated interest rate	4.25%		4.25%
Senior unsecured notes, due date	Jan. 15, 2029		Jan. 15, 2029
Senior unsecured notes | 4.625% senior unsecured notes, due 2030
Debt Instrument [Line Items]
Stated interest rate			4.625%	4.625%
Senior unsecured notes, due date			Mar. 15, 2030	Mar. 15, 2030
Short-term debt | Repurchase facility
Debt Instrument [Line Items]
Credit facility, outstanding amount			$ 0	$ 80
Long-term debt
Debt Instrument [Line Items]
Debt issuance costs			(31.3)	(28.3)
Long-term debt | Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Long-term debt, net			597.9	597.8
Long-term debt | Senior unsecured notes
Debt Instrument [Line Items]
Long-term debt, net			2,050	2,051.3
Long-term debt | Senior unsecured notes | 5.625% senior unsecured notes, due 2024
Debt Instrument [Line Items]
Long-term debt, net			0	501.3
Long-term debt | Senior unsecured notes | 6.250% senior unsecured notes, due 2025
Debt Instrument [Line Items]
Long-term debt, net			400	400
Long-term debt | Senior unsecured notes | 5.000% senior unsecured notes, due 2027
Debt Instrument [Line Items]
Long-term debt, net			650	650
Long-term debt | Senior unsecured notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Long-term debt, net	$ 500		500	0
Long-term debt | Senior unsecured notes | 4.625% senior unsecured notes, due 2030
Debt Instrument [Line Items]
Long-term debt, net			$ 500	$ 500

Debt - Narrative (Details) - De

Debt - Narrative (Details) - Debt Instruments $ in Millions	Jan. 19, 2021USD ($)subsidiary	Apr. 15, 2020	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Jan. 15, 2024	Feb. 16, 2021
Debt Instrument [Line Items]
Number of wholly-owned subsidiaries | subsidiary	2
Loss on extinguishment of debt			$ (6.3)	$ 0
Repayments of long-term debt			500	$ 0
Long-term debt, net			$ 2,616.6		$ 2,620.8
Debt Instrument, covenant description			The terms of the Credit Agreement (and under certain circumstances, the agreements governing the AR Securitization Facilities) require that 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 4.5 to 1.0.
Debt Covenant, Consolidated total leverage ratio			6
Consolidated total leverage ratio			12.7
Deferred financing costs			$ 35.1
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt at fair value			$ 2,700		$ 2,800
Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Interest rate at period end			1.90%
Unamortized debt discount			$ 2.1
Senior unsecured notes, due date			Nov. 18, 2026		Nov. 18, 2026
Senior unsecured notes | 5.625% senior unsecured notes, due 2024
Debt Instrument [Line Items]
Senior unsecured notes, due date			Feb. 15, 2024		Feb. 15, 2024
Stated interest rate					5.625%		5.625%
Senior unsecured notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Senior unsecured notes, due date	Jan. 15, 2029		Jan. 15, 2029
Stated interest rate	4.25%		4.25%
Long-term debt | Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Long-term debt, net			$ 597.9		$ 597.8
Long-term debt | Senior unsecured notes
Debt Instrument [Line Items]
Long-term debt, net			2,050		2,051.3
Long-term debt | Senior unsecured notes | 5.625% senior unsecured notes, due 2024
Debt Instrument [Line Items]
Long-term debt, net			$ 0		501.3
Long-term debt | Senior unsecured notes | Senior Notes Due 2029
Debt Instrument [Line Items]
Debt Instrument, Date of first required payment			Jul. 15, 2021
Long-term debt, net	$ 500		$ 500		$ 0
Revolving credit facility
Debt Instrument [Line Items]
Debt Instrument, covenant description		On April 15, 2020, the Company, along with the Borrowers, and other guarantor subsidiaries party thereto, entered into an amendment (the “Amendment”) to the Credit Agreement. The Amendment provides that for the period from April 15, 2020 through September 30, 2021 (i) the Company’s Consolidated Net Secured Leverage Ratio shall be calculated by substituting the Company’s Consolidated EBITDA for each of the quarterly periods ended June 30, 2020 and September 30, 2020, included in any last twelve month compliance testing period, with the Company’s historical Consolidated EBITDA for each of the quarterly periods ended June 30, 2019 and September 30, 2019, respectively; and (ii) the Company will not make any Restricted Payments (as defined in the Credit Agreement) without the consent of the applicable lenders under the Credit Agreement, subject to certain exceptions such as payments necessary to maintain the Company’s REIT status, including any payments on any class of the Company’s capital stock that is required to be made prior to the payment of a dividend or distribution on the Company’s common stock and the Company’s existing payment obligations to holders of the Class A equity interests in Outfront Canada
Debt Covenant, Consolidated net secured leverage ratio			4.5
Consolidated net secured leverage ratio			1.1
Revolving credit facility | Maximum
Debt Instrument [Line Items]
Debt Covenant, Restricted cash limit			$ 150
Subsequent event | Minimum
Debt Instrument [Line Items]
Percentage of Debt Instrument Outstanding						50.00%
Subsequent event | Senior Notes Due 2029 | Maximum
Debt Instrument [Line Items]
Percentage of Redeemable Debt Instrument Outstanding						40.00%

Debt - Narrative (Details) - Li

Debt - Narrative (Details) - Line of Credit Facility - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fair Value, Inputs, Level 2
Line of Credit Facility [Line Items]
Interest rate cash flow hedge liability at fair value	$ 4,300,000		$ 5,600,000
Interest Rate Swap
Line of Credit Facility [Line Items]
Derivative liability, notional amount	$ 200,000,000
Derivative, fixed interest rate	2.70%
Debt instrument, description of variable rate basis	one-month LIBOR
Variable interest rate	0.10%
Maximum | Interest Rate Swap
Line of Credit Facility [Line Items]
Derivative, maturity date	Jun. 30, 2022
Other liabilities
Line of Credit Facility [Line Items]
Derivative liability	$ 4,300,000		5,600,000
Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	500,000,000
Commitment fee for unused commitments	$ 400,000	$ 300,000
Credit facility, expiration date	Nov. 18, 2024
Revolving credit facility | Long-term debt
Line of Credit Facility [Line Items]
Credit facility, outstanding amount	$ 0
Letter of credit sublimit to revolving credit facility
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount	2,100,000
Letter of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	78,000,000
Letters of credit outstanding, amount	$ 72,000,000
AR Facility
Line of Credit Facility [Line Items]
Credit facility, expiration date	Jun. 30, 2022
AR Facility | Short-term debt
Line of Credit Facility [Line Items]
Credit facility, outstanding amount	$ 0
Line of credit facility, remaining borrowing capacity	0
Repurchase facility | Short-term debt
Line of Credit Facility [Line Items]
Credit facility, outstanding amount	0		$ 80,000,000
Line of credit facility, remaining borrowing capacity	80,000,000
AR securitization facilities | Maximum
Line of Credit Facility [Line Items]
Debt instrument, collateral amount	$ 207,900,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 13, 2017	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Nov. 21, 2017
Class of Stock [Line Items]
Common stock authorized (shares)		450,000,000		450,000,000
Common stock, par value per share ($ per share)		$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock issued (shares)		145,538,216		144,500,000
Common Stock, Shares, Outstanding		145,500,000		144,500,000
Preferred stock authorized (shares)		50,000,000		50,000,000
Preferred stock, par value per share ($ per share)		$ 0.01
Series A Preferred Stock outstanding (shares)		400,000		400,000
Series A Preferred Stock issued (shares)		400,000		400,000
Series A Preferred Stock, par value per share ($ per share)		$ 0.01		$ 0.01
Series A Preferred Stock dividend rate (%)		7.00%
Dividend period		12 months
Series A Preferred Stock terms of conversion		The Series A Preferred Stock is convertible at the option of any holder at any time into shares of our common stock at an initial conversion price of $16.00 per share and an initial conversion rate of 62.50 shares of our common stock per share of Series A Preferred Stock, subject to certain anti-dilution adjustments and a share cap as set forth in the Articles. Subject to certain conditions set forth in the Articles (including a change of control), each of the Company and the holders of the Series A Preferred Stock may convert or redeem the Series A Preferred Stock at the prices set forth in the Articles, plus any accrued and unpaid dividends.
Series A Preferred Stock, conversion price ($ per share)		$ 16
Series A Preferred Stock, Common shares issuable (shares)		62.50
Distributions to holders of Class A equity interests of a subsidiary		$ 7.3	$ 55.6
Maximum
Class of Stock [Line Items]
Dividend Percentage In Excess Of Required Distributions For A REIT		5.00%
At-The-Market Equity Offering Program
Class of Stock [Line Items]
ATM Program, authorized amount outstanding		$ 232.5				$ 300
Shares issued under the ATM Program (shares)		0
Noncontrolling Interest
Class of Stock [Line Items]
Distributions to holders of Class A equity interests of a subsidiary		$ 0	$ 0.4
Business Acquisition, Equity interest issued (shares)	1,953,407
Equity interests redeemed during the period (shares)		1,527,579
Series A Preferred Stock
Class of Stock [Line Items]
Series A Preferred Stock, Common shares issuable (shares)		25,000,000
Distributions to holders of Class A equity interests of a subsidiary		$ 7

Revenues Disaggregation of Reve

Revenues Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Billboard	$ 223.6	$ 270.9
Transit	35.6	114.4
Revenues	259.2	385.3
Static displays
Disaggregation of Revenue [Line Items]
Billboard	165.1	201.1
Transit	23.9	65.1
Digital displays
Disaggregation of Revenue [Line Items]
Billboard	49.3	60.4
Transit	6.4	27.7
Other
Disaggregation of Revenue [Line Items]
Billboard	9.2	9.4
Transit	4.6	7.4
Transit
Disaggregation of Revenue [Line Items]
Transit	34.9	100.2
Sports marketing and other
Disaggregation of Revenue [Line Items]
Transit	$ 0.7	$ 14.2

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Rental income	$ 215.8	$ 262.3

Revenues Revenue from External

Revenues Revenue from External Customers by Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Billboard	$ 223.6	$ 270.9
Transit and other	35.6	114.4
Revenues	259.2	385.3
United States
Disaggregation of Revenue [Line Items]
Billboard	212.5	256.5
Revenues	246.1	368.9
Canada
Disaggregation of Revenue [Line Items]
Revenues	13.1	16.4
Transit and other
Disaggregation of Revenue [Line Items]
Transit and other	34.9	100.2
Transit and other | United States
Disaggregation of Revenue [Line Items]
Transit and other	32.9	98.2
Sports marketing and other
Disaggregation of Revenue [Line Items]
Transit and other	0.7	14.2
Sports marketing and other | United States
Disaggregation of Revenue [Line Items]
Transit and other	$ 0.7	$ 14.2

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) $ in Millions	Mar. 31, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 1

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2018USD ($)Displays	Dec. 31, 2022USD ($)Displays
Business Acquisition [Line Items]
Noncash or part noncash acquisition, value of assets acquired | $	$ 15.8	$ 6.6
Acquired businesses
Business Acquisition [Line Items]
Noncash or part noncash acquisition, value of assets acquired | $			$ 35.4
Acquired businesses | Subsequent event
Business Acquisition [Line Items]
Noncash or part noncash acquisition, value of assets acquired | $				$ 9.2
Acquired businesses | Digital displays
Business Acquisition [Line Items]
Number of displays | Displays			14
Acquired businesses | Digital displays | Subsequent event
Business Acquisition [Line Items]
Number of displays | Displays				4
Acquired businesses | Static displays
Business Acquisition [Line Items]
Number of displays | Displays			7

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, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit	$ (0.3)	$ (0.4)
Stock-based compensation expense, net of tax	5.7	5.4
Stock-based compensation expenses (RSUs and PRSUs), before income taxes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expenses, before income taxes	$ 6	$ 5.8

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing stock price ($ per share) | $ / shares	$ 21.83
GrantValueBasisOfStockBasedCompensationAward	100.00%
Stock-based compensation expenses (RSUs and PRSUs), before income taxes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation not yet recognized, share-based awards other than options | $	$ 52.6
Compensation cost not yet recognized, period for recognition	2 years 1 month 6 days
Performance Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout on Stock-Based Compensation Award, Performance Condition Period	2 years
Percentage Of Share Based Compensation Award Comprised of Performance-Based Awards	60.00%
Performance and Market Condition Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PayoutOnStockBasedCompensationAwards	0.00%
Performance and Market Condition Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PayoutOnStockBasedCompensationAwards	200.00%
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage Of Share Based Compensation Award Comprised of Performance-Based Awards	40.00%

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of RSU and PRSU Award Activity (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Stock-based compensation expenses (RSUs and PRSUs), before income taxes
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Non-vested as of December 31, 2020 (shares) | shares	2,208,059
Non-vested as of March 31, 2021 (shares) | shares	2,573,517
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Non-Vested, as of December 31, 2020 ($ per share) | $ / shares	$ 24.80
Weighted Average Grant Date Fair Value, Non-Vested, as of March 31, 2021 ($ per share) | $ / shares	$ 23
Restricted Stock Units (RSUs)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Granted (shares) | shares	954,350
Vested (shares) | shares	(651,997)
Forfeitures (shares) | shares	(6,178)
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Grants ($ per share) | $ / shares	$ 21.48
Weighted Average Grant Date Fair Value, Vested ($ per share) | $ / shares	24.55
Weighted Average Grant Date Fair Value, Forfeited ($ per share) | $ / shares	$ 25.48
Performance Restricted Stock Units (PRSUs)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Granted (shares) | shares	567,571
Vested (shares) | shares	(239,202)
Forfeitures (shares) | shares	(259,086)
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Grants ($ per share) | $ / shares	$ 23.34
Weighted Average Grant Date Fair Value, Vested ($ per share) | $ / shares	21.81
Weighted Average Grant Date Fair Value, Forfeited ($ per share) | $ / shares	$ 30.63

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Stock Options Roll Forward (Details) - Stock options - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding as of December 31, 2020 (shares)	103,413	103,413
Outstanding as of March 31, 2021 (shares)	103,413	103,413
Exercisable as of March 31, 2021 (shares)	103,413
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, options outstanding as of December 31, 2020 ($ per share)	$ 26.39	$ 26.39
Weighted average exercise price, options outstanding as of March 31, 2021 ($ per share)	26.39	$ 26.39
Weighted average exercise price, options exercisable, as of March 31, 2021 ($ per share)	$ 26.39

Retirement Benefits - Schedule

Retirement Benefits - Schedule of Net Benefit Costs (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost		$ 0.1	$ 0.4
Interest cost		0.5	0.7
Expected return on plan assets		(0.8)	(1.1)
Amortization of net actuarial losses	[1]	0.2	0.3
Net periodic pension cost		$ 0	$ 0.3
[1]	Reflects amounts reclassified from accumulated other comprehensive income to net income.

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Retirement Benefits [Abstract]
Pension contributions	$ 0.3
Estimated employer contributions in current fiscal year	$ 1.2

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	3 Months Ended
	Mar. 31, 2021
Minimum
Operating Loss Carryforwards [Line Items]
Open tax year	2017

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available for common stockholders		$ (67.7)	$ 6.1
Dividends		7.3	55.6
Net income (loss) available for common stockholders, basic and diluted		$ (74.7)	$ 5.7
Weighted average number of shares for basic EPS (shares)		144.8	143.9
Dilutive potential shares from grants of RSUs, PRSUs and stock options (shares)	[1]	0	0.8
Weighted average number of shares for diluted EPS (shares)		144.8	144.7
Series A Preferred Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dividends		$ 7	$ 0
Noncontrolling Interest
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dividends		$ 0	$ 0.4
Noncontrolling Interest
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from EPS calculation (shares)		0.8	1.1
Stock compensation plan
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from EPS calculation (shares)		1.9	0.5
Series A Preferred Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from EPS calculation (shares)		25
[1]	The potential impact of an aggregate 1.9 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2021, and 0.5 million granted RSUs, PRSUs and stock options in the three months ended March 31, 2020, were antidilutive.

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) $ in Millions	Jul. 01, 2020USD ($)	Mar. 31, 2021USD ($)Displays	Dec. 31, 2020	Dec. 31, 2020USD ($)
Other Commitments [Line Items]
Equipment Deployment Costs Percentage	30.00%
Standalone letters of credit and sublimit to revolving credit facility
Other Commitments [Line Items]
Letters of credit outstanding, amount | $		$ 74.1
Surety Bond
Other Commitments [Line Items]
Surety bonds outstanding | $		167.5
MTA Agreement
Other Commitments [Line Items]
Revenue share percentage			65.00%
MTA equipment deployment costs
Other Commitments [Line Items]
Deployment costs incurred | $		$ 3.6		$ 33.1
Metropolitan Transportation Authority ("MTA")
Other Commitments [Line Items]
Equipment Deployment Costs Percentage	70.00%
Maximum | MTA equipment deployment costs
Other Commitments [Line Items]
Deployment costs incurred | $	$ 143
MTA digital advertising screens on subway and train platforms
Other Commitments [Line Items]
Number of displays		8,565
MTA smaller-format digital advertising screens rolling stock
Other Commitments [Line Items]
Number of displays		37,716
MTA communication displays
Other Commitments [Line Items]
Number of displays		7,829
MTA displays installed
Other Commitments [Line Items]
Number of displays		7,645
Number of display additions		265

Commitment and Contingencies MT

Commitment and Contingencies MTA Agreement Schedule (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Change In MTA Deployment Costs [Roll Forward]
Prepaid MTA equipment deployment costs, beginning of period	$ 204.6	$ 171.5	$ 171.5
Other current assets, beginning of period	33.7
Intangible assets, gross, beginning of period	1,750.5
MTA deployment costs, beginning of period	291	209.8	209.8
Amortization of intangible assets	16.4	15
MTA equipment development cost additions	17.4		103.5
Prepaid MTA equipment deployment costs, end of period	208.2		204.6
Intangible assets, gross, end of period	1,741.6		1,750.5
Other current assets, end of period	28		33.7
MTA deployment costs, end of period	289.7		291
MTA equipment deployment costs
Change In MTA Deployment Costs [Roll Forward]
Other current assets, beginning of period	28
Deployment costs incurred	3.6		33.1
Recoupment	(16.2)		(16.4)
Other current assets	9.1		44.4
Amortization of intangible assets	(2.5)		(5.9)
Other current assets, end of period	20.9		28
MTA Funding
Change In MTA Deployment Costs [Roll Forward]
Other current assets	(16.2)		(16.4)
Franchise agreements
Change In MTA Deployment Costs [Roll Forward]
Intangible assets, gross, beginning of period	514.7
Intangible assets, gross, end of period	519.1		514.7
Franchise agreements | MTA equipment deployment costs
Change In MTA Deployment Costs [Roll Forward]
Intangible assets, gross, beginning of period	58.4	$ 38.3	38.3
Intangible asset additions	4.7		26
Amortization of intangible assets	(2.5)		(5.9)
Intangible assets, gross, end of period	$ 60.6		$ 58.4

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Number of operating segments	2

Segment Information - Reconcili

Segment Information - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 259.2	$ 385.3
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Revenues	245.4	354.7
Operating segments | Other
Segment Reporting Information [Line Items]
Revenues	$ 13.8	$ 30.6

Segment Information - Adjusted

Segment Information - Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net income (loss) before allocation to non-controlling interests	$ (67.6)	$ 6.3
Benefit for income taxes	(4.7)	(1.7)
Equity in earnings of investee companies, net of tax	0.4	(0.4)
Interest expense, net	34.6	29.8
Loss on extinguishment of debt	6.3	0
Other income, net	0	(0.2)
Operating income (loss)	(31)	33.8
Net gain on dispositions	(0.3)	(0.1)
Depreciation and amortization	36.4	36	[1]
Stock-based compensation	6	5.8
Adjusted OIBDA	11.1	75.5	[1]
Capital expenditures	9.4	18.2
Amortization of direct lease acquisition costs		11.3
U.S. Media
Segment Reporting Information [Line Items]
Amortization of direct lease acquisition costs		10.8
Other
Segment Reporting Information [Line Items]
Amortization of direct lease acquisition costs		0.5
Operating segments
Segment Reporting Information [Line Items]
Operating income (loss)	(31)	33.8
Net gain on dispositions	(0.3)	(0.1)
Depreciation and amortization	36.4	36	[1]
Capital expenditures	9.4	18.2
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Operating income (loss)	(8.6)	47.4
Net gain on dispositions	(0.3)	(0.1)
Depreciation and amortization	33.5	32.7	[1]
Adjusted OIBDA	24.6	80	[1]
Capital expenditures	8.9	17.3
Operating segments | Other
Segment Reporting Information [Line Items]
Operating income (loss)	(4.9)	(3.3)
Depreciation and amortization	2.9	3.3	[1]
Adjusted OIBDA	(2)	0	[1]
Capital expenditures	0.5	0.9
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(17.5)	(10.3)
Adjusted OIBDA	$ (11.5)	$ (4.5)
[1]	Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $11.3 million in the three months ended March 31, 2020, of which $10.8 million was recorded in our U.S. Media segment and $0.5 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA.

Segment Information - Reconci_2

Segment Information - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 5,713.9	$ 5,896.9
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Total assets	4,950.8	4,977.2
Operating segments | Other
Segment Reporting Information [Line Items]
Total assets	245.8	249.5
Corporate
Segment Reporting Information [Line Items]
Total assets	$ 517.3	$ 670.2