Outfront Media (OUT) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 04, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Quarterly period ended	Sep. 30, 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)		145,617,792
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Central Index Key	0001579877

Consolidated Statements of Fina

Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 510.3	$ 710.4
Restricted cash	0	1.6
Receivables, less allowance ($18.2 in 2021 and $26.3 in 2020)	245.9	209.2
Prepaid lease and franchise costs	11.7	5.4
Other prepaid expenses	19	14.4
Other current assets	14.3	33.7
Total current assets	801.2	974.7
Noncurrent assets:
Property and equipment, net	629.6	634.2
Goodwill	2,077.8	2,077.8
Intangible assets	552.1	547.5
Operating lease assets	1,436.9	1,421.3
Prepaid MTA equipment deployment costs	245.5	204.6
Other assets	40.3	36.8
Total assets	5,783.4	5,896.9
Current liabilities:
Accounts payable	62.2	64.9
Accrued compensation	58.2	35
Accrued interest	17.6	24.5
Accrued lease and franchise costs	57.2	65.8
Other accrued expenses	39.5	38
Deferred revenues	35	29.5
Short-term debt	0	80
Short-term operating lease liabilities	188.5	176.5
Other current liabilities	18.6	20.7
Total current liabilities	476.8	534.9
Noncurrent liabilities:
Long-term debt, net	2,619.3	2,620.8
Deferred income tax liabilities, net	13.7	14.6
Asset retirement obligation	35.8	35.9
Operating lease liabilities	1,260.7	1,252
Other liabilities	53.1	55
Total liabilities	4,459.4	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 145.6 shares issued and outstanding; 2020 - 450.0 shares authorized, and 144.5 issued and outstanding)	1.5	1.4
Additional paid-in capital	2,110.6	2,090.8
Distribution in excess of earnings	(1,171.5)	(1,100.4)
Accumulated other comprehensive loss	(13.7)	(18)
Total stockholders' equity	926.9	973.8
Non-controlling interests	13.7	26.5
Total equity	1,324	1,383.7
Total liabilities and equity	$ 5,783.4	$ 5,896.9

Consolidated Statement of Finan

Consolidated Statement of Financial Position (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 18.2	$ 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)	145,617,792	144,500,000
Common stock outstanding (shares)	145,600,000	144,500,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Billboard	$ 317.4	$ 239.9	$ 828.3	$ 699.3
Transit and other	81.8	42.4	171.1	201.2
Total revenues	399.2	282.3	999.4	900.5
Expenses:
Operating	199.8	155.8	567	534.6
Selling, general and administrative	98.5	72.5	263.9	232
Restructuring charges	0	0.6	0	5.3
Net gain on dispositions	(0.4)	(8)	(3.6)	(13.3)
Depreciation	19.6	21	59.6	63.2
Amortization	16.7	15.3	49.4	45.7
Total expenses	334.2	257.2	936.3	867.5
Operating income	65	25.1	63.1	33
Interest expense, net	(31.8)	(34.2)	(98.5)	(97.3)
Loss on extinguishment of debt	0	0	(6.3)	0
Other income (loss), net	0	(0.1)	0	0.1
Income (loss) before (provision) benefit for income taxes and equity in earnings of investee companies	33.2	(9.2)	(41.7)	(64.2)
(Provision) benefit for income taxes	(1.1)	(3.5)	6	(0.3)
Equity in earnings of investee companies, net of tax	1.1	(0.6)	0.6	(0.5)
Net income (loss) before allocation to non-controlling interests	33.2	(13.3)	(35.1)	(65)
Net income attributable to non-controlling interests	0.1	0.2	0.4	0.3
Net income (loss) attributable to OUTFRONT Media Inc.	$ 33.1	$ (13.5)	$ (35.5)	$ (65.3)
Net income (loss) per common share:
Basic (in dollars per share)	$ 0.18	$ (0.14)	$ (0.39)	$ (0.54)
Diluted (in dollars per share)	$ 0.18	$ (0.14)	$ (0.39)	$ (0.54)
Weighted average shares outstanding:
Basic (in shares)	145.6	144.4	145.3	144.2
Diluted (in shares)	146.4	144.4	145.3	144.2

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss) before allocation to non-controlling interests	$ 33.2	$ (13.3)	$ (35.1)	$ (65)
Net income attributable to non-controlling interests	0.1	0.2	0.4	0.3
Net income (loss) attributable to OUTFRONT Media Inc.	33.1	(13.5)	(35.5)	(65.3)
Other comprehensive income (loss), net of tax:
Cumulative translation adjustments	(3.7)	2.6	0	(3.5)
Net actuarial gain (loss)	0.4	(0.1)	0.4	0.4
Change in fair value of interest rate swap agreements	1.3	1.3	3.9	(2.3)
Total other comprehensive income (loss), net of tax	(2)	3.8	4.3	(5.4)
Total comprehensive income (loss)	$ 31.1	$ (9.7)	$ (31.2)	$ (70.7)

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Series A Preferred Stock	Common stock	Series A Preferred Stock	Common stock	Additional Paid-in Capital	Distribution in Excess of Earnings	Distribution in Excess of EarningsSeries A Preferred Stock	Distribution in Excess of EarningsCommon stock	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Series A Preferred Stock outstanding (shares) at Sep. 30, 2020				400,000
Series A Preferred Stock (dollars) at Sep. 30, 2020				$ 383.4
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.	(65.3)						(65.3)
Net income attributable to non-controlling interests	0.3										0.3
Net income (loss) before allocation to non-controlling interests	(65)
Other comprehensive income (loss)	(5.4)									(5.4)
Other comprehensive income (loss) - total equity	(5.4)
Stock-based payments: Vested (shares)					1,000,000
Stock-based payments: Amortization	17.3					17.3
New share issues	383.4			$ 383.4
New share issues (shares)				400,000
Shares paid for tax withholding for stock-based payments (shares)					(400,000)
Shares paid for tax withholding for stock-based payments	(12.4)					(12.4)
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)	$ (12.5)						$ (12.5)	$ (55.3)
Other stockholders equity	(1.1)
Noncontrolling interests - Other											(1.1)
Total stockholders' equity at Sep. 30, 2020	964.6				$ 1.4	2,084	(1,097.7)			(23.1)
Non-controlling interests at Sep. 30, 2020											27.4
Total equity at Sep. 30, 2020	1,375.4
Common stock outstanding (shares) at Sep. 30, 2020					144,400,000
Series A Preferred Stock outstanding (shares) at Sep. 30, 2020				400,000
Series A Preferred Stock (dollars) at Sep. 30, 2020				$ 383.4
Total stockholders' equity at Jun. 30, 2020	976.1				$ 1.4	2,078.8	(1,077.2)			(26.9)
Non-controlling interests at Jun. 30, 2020											27.2
Total equity at Jun. 30, 2020	1,386.7
Common stock outstanding (shares) at Jun. 30, 2020					144,400,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to OUTFRONT Media Inc.	(13.5)						(13.5)
Net income attributable to non-controlling interests	0.2
Net income (loss) before allocation to non-controlling interests	(13.3)
Other comprehensive income (loss)	3.8									3.8
Other comprehensive income (loss) - total equity	3.8
Stock-based payments: Amortization	5.4					5.4
Shares paid for tax withholding for stock-based payments	(0.2)					(0.2)
Dividends		(7)						(7)
Total stockholders' equity at Sep. 30, 2020	964.6				$ 1.4	2,084	(1,097.7)			(23.1)
Non-controlling interests at Sep. 30, 2020											27.4
Total equity at Sep. 30, 2020	$ 1,375.4
Common stock outstanding (shares) at Sep. 30, 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 Sep. 30, 2021	400,000			400,000
Series A Preferred Stock (dollars) at Sep. 30, 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.	$ (35.5)						(35.5)
Net income attributable to non-controlling interests	0.4										0.4
Net income (loss) before allocation to non-controlling interests	(35.1)
Other comprehensive income (loss)	4.3									4.3
Other comprehensive income (loss) - total equity	4.3
Stock-based payments: Vested (shares)					1,100,000
Stock-based payments: Vested	0.1				$ 0.1
Stock-based payments: Amortization	20.7					20.7
Shares paid for tax withholding for stock-based payments (shares)					(500,000)
Shares paid for tax withholding for stock-based payments	(8.9)					(8.9)
Class A equity interest redemptions (shares)					500,000
Class A equity interest redemptions	11.3					11.3
Decrease in non-controlling interests due to redemptions											(11.3)
Dividends		(21)	$ (14.6)					(21)	(14.6)
Other stockholders equity	(3.3)					(3.3)
Other	(5.2)
Noncontrolling interests - Other											(1.9)
Total stockholders' equity at Sep. 30, 2021	926.9				$ 1.5	2,110.6	(1,171.5)			(13.7)
Non-controlling interests at Sep. 30, 2021	13.7										13.7
Total equity at Sep. 30, 2021	$ 1,324
Common stock outstanding (shares) at Sep. 30, 2021	145,600,000				145,600,000
Series A Preferred Stock outstanding (shares) at Jun. 30, 2021				400,000
Series A Preferred Stock (dollars) at Jun. 30, 2021				$ 383.4
Series A Preferred Stock outstanding (shares) at Sep. 30, 2021	400,000			400,000
Series A Preferred Stock (dollars) at Sep. 30, 2021	$ 383.4			$ 383.4
Total stockholders' equity at Jun. 30, 2021	909.9				$ 1.5	2,103.1	(1,183)			(11.7)
Non-controlling interests at Jun. 30, 2021											14.1
Total equity at Jun. 30, 2021	1,307.4
Common stock outstanding (shares) at Jun. 30, 2021					145,600,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to OUTFRONT Media Inc.	33.1						33.1
Net income attributable to non-controlling interests	0.1
Net income (loss) before allocation to non-controlling interests	33.2
Other comprehensive income (loss)	(2)									(2)
Other comprehensive income (loss) - total equity	(2)
Stock-based payments: Amortization	7.2					7.2
Class A equity interest redemptions	0.3					0.3
Decrease in non-controlling interests due to redemptions											(0.3)
Dividends		$ (7)	$ (14.6)					$ (7)	$ (14.6)
Other						(0.2)
Noncontrolling interests - Other											(0.2)
Total stockholders' equity at Sep. 30, 2021	926.9				$ 1.5	$ 2,110.6	$ (1,171.5)			$ (13.7)
Non-controlling interests at Sep. 30, 2021	13.7										$ 13.7
Total equity at Sep. 30, 2021	$ 1,324
Common stock outstanding (shares) at Sep. 30, 2021	145,600,000				145,600,000

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common stock, par value per share ($ per share)	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Series A Preferred Stock, par value per share ($ per share)	0.01	$ 0.01	0.01	0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Dividends declared per common share ($ per share)	$ 0.10		$ 0.10	$ 0.38
Series A Preferred Stock dividend rate (%)	7.00%	7.00%	7.00%	7.00%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities:
Net income (loss) attributable to OUTFRONT Media Inc.	$ (35.5)	$ (65.3)
Adjustments to reconcile net loss to net cash flow provided by operating activities:
Net income attributable to non-controlling interests	0.4	0.3
Depreciation and amortization	109	108.9	[1]
Deferred tax benefit	(6.6)	(3.8)
Stock-based compensation	20.7	17.3
Provision for doubtful accounts	(5.3)	17.4
Accretion expense	2	1.9
Net gain on dispositions	(3.6)	(13.3)
Loss on extinguishment of debt	6.3	0
Equity in earnings of investee companies, net of tax	(0.6)	0.5
Distributions from investee companies	0.5	2.1
Amortization of deferred financing costs and debt discount and premium	5.5	4.8
Change in assets and liabilities, net of investing and financing activities:
(Increase) decrease in receivables	(28.5)	80.5
Increase in prepaid MTA equipment deployment costs	(40.9)	(29.4)
(Increase) decrease in prepaid expenses and other current assets	9.6	(25)
Increase (decrease) in accounts payable and accrued expenses	0.8	(42.4)
Increase in operating lease assets and liabilities	5	13.4
Increase in deferred revenues	5.5	12.1
Increase (decrease) in income taxes	(0.9)	1
Other, net	1.7	5
Net cash flow provided by operating activities	45.1	86
Investing Activities:
Capital expenditures	(41.2)	(42)
Acquisitions	(55)	(15.5)
MTA franchise rights	(12.1)	(14.4)
Net proceeds from dispositions	1.8	35.9
Return of investment in investee companies	0	0.9
Net cash flow used for investing activities	(106.5)	(35.1)
Financing Activities:
Proceeds from long-term debt borrowings	500	895
Repayments of long-term debt borrowings	(500)	(495)
Proceeds from borrowings under short-term debt facilities	0	15
Repayments of borrowings under short-term debt facilities	(80)	(130)
Payments of deferred financing costs	(7.3)	(7.7)
Payments of debt extinguishment charges	(4.7)	0
Proceeds from Series A Preferred Stock issuances	0	383.8
Taxes withheld for stock-based compensation	(8.9)	(12)
Dividends	(35.9)	(68.1)
Other	(3.7)	0
Net cash flow provided by (used for) financing activities	(140.5)	581
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0.2	(0.6)
Net increase (decrease) in cash, cash equivalents and restricted cash	(201.7)	631.3
Cash, cash equivalents and restricted cash at beginning of period	712	60.9
Cash, cash equivalents and restricted cash at end of period	510.3	692.2
Supplemental disclosure of cash flow Information:
Cash paid for income taxes	1.5	3.1
Cash paid for interest	100.6	93.5
Non-cash investing and financing activities:
Accrued purchases of property and equipment	5.7	5.3
Accrued MTA franchise rights	5.8	5.2
Taxes withheld for stock-based compensation	$ 0.2	$ 0.3
[1]	Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $9.1 million in the three months ended September 30, 2020, of which $8.3 million was recorded in our U.S. Media segment and $0.8 million was recorded in Other , and $26.7 million in the nine months ended September 30, 2020, of which $25.1 million was recorded in our U.S. Media segment and $1.6 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	9 Months Ended
	Sep. 30, 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. 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 $9.1 million in the three months ended September 30, 2020, and $26.7 million in the nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2021
Restricted Cash [Abstract]
Restricted Cash	Restricted Cash In August 2021, the escrow agreement in connection with one of our transit franchise contracts, which required us to deposit funds into an escrow account to fund capital expenditures over the term of the transit franchise contract, was terminated. As of September 30, 2021, we have no restricted cash. As of (in millions) September 30, September 30, December 31, 2020 Cash and cash equivalents $ 510.3 $ 690.6 $ 710.4 Restricted cash — 1.6 1.6 Cash, cash equivalents and restricted cash $ 510.3 $ 692.2 $ 712.0

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 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 September 30, December 31, Land $ 102.8 $ 98.0 Buildings 20 to 40 years 49.3 48.3 Advertising structures 5 to 20 years 1,920.1 1,897.7 Furniture, equipment and other 3 to 10 years 174.8 168.5 Construction in progress 35.1 25.1 2,282.1 2,237.6 Less: Accumulated depreciation 1,652.5 1,603.4 Property and equipment, net $ 629.6 $ 634.2

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 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 September 30, 2021: Permits and leasehold agreements $ 1,232.6 $ (809.4) $ 423.2 Franchise agreements 526.0 (398.4) 127.6 Other intangible assets 20.3 (19.0) 1.3 Total intangible assets $ 1,778.9 $ (1,226.8) $ 552.1 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 (a) 24.1 (20.5) 3.6 Total intangible assets $ 1,728.8 $ (1,181.3) $ 547.5 (a) Certain intangible assets were fully amortized and no longer being utilized prior to 2020. As a result, we have revised previously reported gross other intangible assets and the related accumulated amortization as of December 31, 2020. The revision, which has no impact on the Consolidated Statement of Financial Position, decreased previously reported gross other intangible assets and accumulated amortization by $21.7 million. In the nine months ended September 30, 2021, we acquired 62 digital billboards, resulting in amortizable intangible assets for permits and leasehold agreements of $40.0 million, which are amortized using the straight-line method over their estimated useful lives, an average period of 17.7 years. All of our intangible assets, except goodwill, are subject to amortization. Amortization expense was $16.7 million in the three months ended September 30, 2021, $15.3 million in the three months ended September 30, 2020, $49.4 million in the nine months ended September 30, 2021, and $45.7 million in the nine months ended September 30, 2020.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases Lessee As of September 30, 2021, we have operating lease assets of $1.4 billion, short-term operating lease liabilities of $188.5 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 September 30, 2021, the weighted-average remaining lease term was 10.6 years and the weighted-average discount rate was 5.3%. For the three months ended September 30, 2021, we recorded operating lease costs of $100.9 million in Operating expenses and $2.4 million in Selling, general and administrative expenses. For the three months ended September 30, 2021, these costs include $20.5 million of variable operating lease costs. For the three months ended September 30, 2020, we recorded operating lease costs of $94.3 million in Operating expenses and $2.1 million in Selling, general and administrative expenses. For the three months ended September 30, 2020, these costs include $16.0 million of variable operating lease costs. For the nine months ended September 30, 2021, we recorded operating lease costs of $294.5 million in Operating expenses and $6.9 million in Selling, general and administrative expenses. For the nine months ended September 30, 2021, these costs include $53.7 million of variable operating lease costs. For the nine months ended September 30, 2020, we recorded operating lease costs of $290.1 million in Operating expenses and $6.4 million in Selling, general and administrative expenses. For the nine months ended September 30, 2020, these costs include $52.7 million of variable operating lease costs. For each of the three and nine months ended September 30, 2021 and 2020, sublease income was immaterial. For the nine months ended September 30, 2021, cash paid for operating leases was $285.6 million and leased assets obtained in exchange for new operating lease liabilities was $189.8 million. For the nine months ended September 30, 2020, cash paid for operating leases was $285.9 million and leased assets obtained in exchange for new operating lease liabilities was $147.9 million. We recorded rental income of $305.2 million for the three months ended September 30, 2021, $231.7 million for the three months ended September 30, 2020, $798.6 million for the nine months ended September 30, 2021, and $676.0 million for the nine months ended September 30, 2020, in Revenues

Asset Retirement Obligation

Asset Retirement Obligation	9 Months Ended
	Sep. 30, 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 2.0 Additions 0.2 Liabilities settled (2.3) As of September 30, 2021 $ 35.8

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 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 $10.5 million as of September 30, 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 $2.0 million in the three months ended September 30, 2021, $1.0 million in the three months ended September 30, 2020, $4.4 million in the nine months ended September 30, 2021, and $3.5 million in the nine months ended September 30, 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt, net, consists of the following: As of (in millions, except percentages) September 30, December 31, Short-term debt: Repurchase Facility $ — $ 80.0 Total short-term debt — 80.0 Long-term debt: Term loan, due 2026 598.1 597.8 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 (28.8) (28.3) Total long-term debt, net 2,619.3 2,620.8 Total debt, net $ 2,619.3 $ 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 1.8% per annum as of September 30, 2021. As of September 30, 2021, a discount of $1.9 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 September 30, 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 September 30, 2021, $0.6 million in the three months ended September 30, 2020, $1.3 million in the nine months ended September 30, 2021, and $1.2 million in the nine months ended September 30, 2020. As of September 30, 2021, we had issued letters of credit totaling approximately $4.0 million against the letter of credit facility sublimit under the Revolving Credit Facility. Standalone Letter of Credit Facilities As of September 30, 2021, we had issued letters of credit totaling approximately $73.9 million under our aggregate $81.0 million standalone letter of credit facilities. The total fees under the letter of credit facilities were immaterial in each of the three and nine months ended September 30, 2021 and 2020. Accounts Receivable Securitization Facilities As of September 30, 2021, we have a revolving accounts receivable securitization facility (the “AR Facility”), which terminates in June 2022, unless further extended. Our 364-day uncommitted structured repurchase facility (the “Repurchase Facility”) expired on June 29, 2021, and we chose not to extend it at this time. In connection with the AR Facility, 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. As of September 30, 2021, there were no outstanding borrowings under the AR Facility. As of September 30, 2021, there was no borrowing capacity under the AR Facility due to a voluntary temporary suspension of the AR Facility in accordance with the agreements governing the AR Facility; however, as of September 30, 2021, we had approximately $273.8 million of accounts receivable that could be used as collateral for the AR Facility. The commitment fee based on the amount of unused commitments under the AR Facility was immaterial for each of the three and nine months ended September 30, 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 Facility, and the indentures governing our senior unsecured notes contain customary affirmative and negative covenants, subject to certain exceptions, including but not limited to those that 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 September 30, 2021, our Consolidated Total Leverage Ratio was 8.2 to 1.0 in accordance with the Credit Agreement. The terms of the Credit Agreement (and under certain circumstances, the agreements governing the AR Facility) 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 September 30, 2021, our Consolidated Net Secured Leverage Ratio was 1.4 to 1.0 in accordance with the Credit Agreement. As of September 30, 2021, we are in compliance with our debt covenants. Deferred Financing Costs As of September 30, 2021, we had deferred $31.8 million in fees and expenses associated with the Term Loan, Revolving Credit Facility, AR Facility 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 Facility 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 $1.7 million as of September 30, 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 September 30, 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 September 30, 2021. Fair Value

Equity

Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Equity	Equity As of September 30, 2021, 450,000,000 shares of our common stock, par value $0.01 per share, were authorized; 145,617,792 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, without the consent of a specified percentage of holders of shares of Series A Preferred Stock, 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 September 30, 2021, we paid cash dividends of $7.0 million on the Series A Preferred Stock and during the nine months ended September 30, 2021, we paid cash dividends of $21.0 million on the Series A Preferred Stock. As of September 30, 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. As of September 30, 2021, 1,549,579 Class A equity interests have been redeemed for shares of the Company’s common stock. During the three and nine months ended September 30, 2021, distributions to holders of the Class A equity interests were immaterial. We have a sales agreement in connection with an “at-the-market” equity offering program (the “ATM Program”), under which we may, from time to time, issue and sell shares of our common stock up to an aggregate offering price of $300.0 million. We have no obligation to sell any of our common stock under the sales agreement and may at any time suspend solicitations and offers under the sales agreement. No shares were sold under the ATM Program during the nine months ended September 30, 2021. As of September 30, 2021, we had approximately $232.5 million of capacity remaining under the ATM Program. On October 26, 2021, we announced that our board of directors approved a quarterly cash dividend of $0.10 per share on our common stock, payable on December 31, 2021, to stockholders of record at the close of business on December 3, 2021.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues The following table summarizes revenues by source: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Billboard: Static displays $ 220.0 $ 179.5 $ 593.4 $ 530.1 Digital displays 84.5 51.2 202.7 142.9 Other 12.9 9.2 32.2 26.3 Billboard revenues 317.4 239.9 828.3 699.3 Transit: Static displays 51.2 28.5 109.7 116.5 Digital displays 22.6 7.6 40.9 41.9 Other 7.7 5.8 18.5 16.6 Total transit revenues 81.5 41.9 169.1 175.0 Sports marketing and other 0.3 0.5 2.0 26.2 Transit and other revenues 81.8 42.4 171.1 201.2 Total revenues $ 399.2 $ 282.3 $ 999.4 $ 900.5 Rental income was $305.2 million in the three months ended September 30, 2021, $231.7 million in the three months ended September 30, 2020, $798.6 million in the nine months ended September 30, 2021, and $676.0 million in the nine months ended September 30, 2020, and is recorded in Billboard revenues on the Consolidated Statement of Operations. The following table summarizes revenues by geography: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 United States: Billboard $ 298.4 $ 226.0 $ 782.7 $ 663.9 Transit and other 77.8 39.8 160.7 170.1 Sports marketing and other 0.3 0.3 2.0 26.0 Total United States revenues 376.5 266.1 945.4 860.0 Canada 22.7 16.2 54.0 40.5 Total revenues $ 399.2 $ 282.3 $ 999.4 $ 900.5 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	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring Charges In order to preserve financial flexibility, increase liquidity and reduce expenses in light of the current uncertainty in the global economy and our business as a result of the COVID-19 pandemic, on May 5, 2020, we announced a workforce reduction in the U.S. and notified approximately 70 employees of their termination. On June 15, 2020, we announced a workforce reduction in Canada and notified approximately 20 employees of their termination. As of September 30, 2021, $0.4 million in restructuring reserves remain outstanding and is included in Other current liabilities on the Consolidated Statement of Financial Position. For the three months ended September 30, 2020, we recorded restructuring charges of $0.6 million, of which $0.4 million was recorded in our U.S. Media segment and $0.2 million was recorded in Other . For the nine months ended September 30, 2020, we recorded restructuring charges of $5.3 million, of which $3.4 million was recorded in our U.S. Media segment and $0.9 million was recorded in Other

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions We completed several asset acquisitions for a total purchase price of approximately $55.0 million in the nine months ended September 30, 2021, and $15.5 million in the nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2021 and 2020. Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Stock-based compensation expenses (RSUs and PRSUs), before income taxes $ 7.2 $ 5.4 $ 20.7 $ 17.3 Tax benefit (0.3) (0.3) (1.0) (1.0) Stock-based compensation expense, net of tax $ 6.9 $ 5.1 $ 19.7 $ 16.3 As of September 30, 2021, total unrecognized compensation cost related to non-vested RSUs and PRSUs was $37.4 million, which is expected to be recognized over a weighted average period of 1.7 years. RSUs and PRSUs The following table summarizes activity for the nine months ended September 30, 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 993,536 21.76 PRSUs 567,571 23.34 Vested: RSUs (714,016) 24.19 PRSUs (241,243) 21.83 Forfeitures: RSUs (61,421) 21.21 PRSUs (269,560) 30.27 Non-vested as of September 30, 2021 2,482,926 23.15 Stock Options The following table summarizes activity for the nine months ended September 30, 2021, of stock options issued to our employees. Activity Weighted Average Exercise Price Outstanding as of December 31, 2020 103,413 $ 26.39 Forfeited or expired (103,413) 26.39 Outstanding as of September 30, 2021 — —

Retirement Benefits

Retirement Benefits	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Components of net periodic pension cost: Service cost $ — $ 0.2 $ 0.2 $ 0.9 Interest cost 0.8 0.6 2.0 1.9 Expected return on plan assets (1.2) (1.0) (3.0) (3.0) Amortization of net actuarial losses (a) 0.3 — 0.7 0.5 Net periodic pension cost $ (0.1) $ (0.2) $ (0.1) $ 0.3 (a) Reflects amounts reclassified from accumulated other comprehensive income to net income. In the nine months ended September 30, 2021, we contributed $0.9 million to our pension plans. In 2021, we expect to contribute approximately $1.2 million to our pension plans.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 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")	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share ("EPS")	Earnings Per Share (“EPS”) Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Net income (loss) available for common stockholders $ 33.1 $ (13.5) $ (35.5) $ (65.3) Less: Distributions to holders of Series A Preferred Stock 7.0 7.0 21.0 12.5 Less: Distributions to holders of Class A equity interests of a subsidiary — — — 0.4 Less: Undistributed earnings allocable to Class A equity interests of a subsidiary 0.3 — — — Net income (loss) available for common stockholders, basic and diluted $ 25.8 $ (20.5) $ (56.5) $ (78.2) Weighted average shares for basic EPS 145.6 144.4 145.3 144.2 Dilutive potential shares from grants of RSUs, PRSUs and stock options (a) 0.8 — — — Weighted average shares for basic and diluted EPS 146.4 144.4 145.3 144.2 (a) The potential impact of an aggregate 0.1 million granted RSUs, PRSUs and stock options in the three months ended September 30, 2021, 1.7 million granted RSUs, PRSUs and stock options in the three months ended September 30, 2020, 1.4 million granted RSUs, PRSUs and stock options in the nine months ended September 30, 2021, and 1.1 million granted RSUs, PRSUs and stock options in the nine months ended September 30, 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 each of the three months ended September 30, 2021 and 2020, 25.0 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the nine months ended September 30, 2021, and 15.0 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the nine months ended September 30, 2020, were antidilutive. (c) The potential impact of 0.4 million of Class A equity interests of Outfront Canada in the three months ended September 30, 2021, 0.9 million of Class A equity interests of Outfront Canada in the three months ended September 30, 2020, 0.6 million of Class A equity interests of Outfront Canada in the nine months ended September 30, 2021, and 1.0 million of Class A equity interests of Outfront Canada in the nine months ended September 30, 2020, was antidilutive. (See Note 10. Equity

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 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, which was amended in June 2020 and July 2021 (as amended, the “MTA Agreement”): • Deployments . We must deploy, over a number of years, (i) 5,433 digital advertising screens on subway and train platforms and entrances, (ii) 15,896 smaller-format digital advertising screens on rolling stock, and (iii) 9,283 MTA communications displays, subject to modification as agreed-upon by us and the MTA. We are also obligated to deploy certain additional digital advertising screens and MTA communications displays in subway and train stations and rolling stock that the MTA may build or acquire in the future (collectively, the “New Inventory”). • Recoupment of Equipment Deployment Costs. We may retain incremental revenues that exceed an annual base revenue amount 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. If we do not recoup all costs of deploying advertising and communications screens with respect to the New Inventory by the end of the term of the MTA Agreement, the MTA will be obligated to reimburse us for these costs. Deployment costs in an amount not to exceed $50.7 million, which are deemed authorized before December 31, 2020, will be paid directly by the MTA. For any deployment costs deemed authorized after December 31, 2020, the MTA and the Company will no longer be obligated to directly pay 70% and 30% of the costs, respectively, and these costs will be subject to recoupment in accordance with the MTA Agreement. We did not recoup any equipment deployment costs in the nine months ended September 30, 2021, and it is unlikely we will recoup equipment deployment costs in the remainder of 2021. • Payments . We must pay to the MTA the greater of a percentage of revenues or a guaranteed minimum annual payment. 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, and 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. The MTA Agreement also provides that if prior to April 1, 2028 the balance of unrecovered costs of deploying advertising and communications screens throughout the transit system is equal to or less than zero, then in any year following the year in which such recoupment occurs (the “Recoupment Year”), the MTA is entitled to receive an additional payment equal to 2.5% of the annual base revenue amount for such year calculated in accordance with the MTA Agreement, provided that gross revenues in such year (i) were at least equal to the gross revenues generated in the Recoupment Year, and (ii) did not decline by more than 5% from the prior year. • Term . In July 2021, we extended the initial 10-year term of the MTA Agreement to a 13-year initial term. We have the option to extend this initial 13-year term for an additional five During the nine months ended September 30, 2021, we had no recoupment from incremental revenues and as of September 30, 2021, $45.2 million has been funded by the MTA. As of September 30, 2021, 9,180 digital displays had been installed, of which 1,359 installations occurred in the three months ended September 30, 2021, for a total of 1,800 in the nine months ended September 30, 2021. (in millions) Beginning Balance Deployment Costs Incurred Recoupment/MTA Funding Amortization Ending Balance Nine months ended September 30, 2021: Prepaid MTA equipment deployment costs $ 204.6 $ 40.9 $ — $ — $ 245.5 Other current assets 28.0 6.3 (28.8) — 5.5 Intangible assets (franchise agreements) 58.4 11.4 — (7.3) 62.5 Total $ 291.0 $ 58.6 $ (28.8) $ (7.3) $ 313.5 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 September 30, 2021, the outstanding letters of credit were approximately $77.9 million and outstanding surety bonds were approximately $166.6 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 eventual outcome of any litigation, in our opinion, none of our current litigation is expected to have a material adverse effect on our results of operations, financial position or cash flows.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Revenues: U.S. Media $ 376.2 $ 265.8 $ 943.4 $ 834.0 Other 23.0 16.5 56.0 66.5 Total revenues $ 399.2 $ 282.3 $ 999.4 $ 900.5 We present Operating income (loss) before Depreciation , Amortization , Net gain on dispositions , Stock-based compensation and Restructuring charges (“Adjusted OIBDA”) as the primary measure of profit and loss for our operating segments. Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Net income (loss) before allocation to non-controlling interests $ 33.2 $ (13.3) $ (35.1) $ (65.0) (Benefit) provision for income taxes 1.1 3.5 (6.0) 0.3 Equity in earnings of investee companies, net of tax (1.1) 0.6 (0.6) 0.5 Interest expense, net 31.8 34.2 98.5 97.3 Loss on extinguishment of debt — — 6.3 — Other income, net — 0.1 — (0.1) Operating income 65.0 25.1 63.1 33.0 Restructuring charges — 0.6 — 5.3 Net gain on dispositions (0.4) (8.0) (3.6) (13.3) Depreciation and amortization (a) 36.3 36.3 109.0 108.9 Stock-based compensation 7.2 5.4 20.7 16.4 Total Adjusted OIBDA (a) $ 108.1 $ 59.4 $ 189.2 $ 150.3 Adjusted OIBDA: U.S. Media (a) $ 116.4 $ 65.9 $ 221.6 $ 177.3 Other (a) 4.8 2.4 4.4 (3.3) Corporate (13.1) (8.9) (36.8) (23.7) Total Adjusted OIBDA (a) $ 108.1 $ 59.4 $ 189.2 $ 150.3 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $9.1 million in the three months ended September 30, 2020, of which $8.3 million was recorded in our U.S. Media segment and $0.8 million was recorded in Other , and $26.7 million in the nine months ended September 30, 2020, of which $25.1 million was recorded in our U.S. Media segment and $1.6 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA. Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Operating income (loss): U.S. Media $ 83.5 $ 31.9 $ 122.2 $ 75.4 Other 1.8 7.5 (1.6) (1.3) Corporate (20.3) (14.3) (57.5) (41.1) Total operating income $ 65.0 $ 25.1 $ 63.1 $ 33.0 Net gain on dispositions: U.S. Media $ (0.4) $ — $ (0.6) $ (1.2) Other — (8.0) (3.0) (12.1) Total gain on dispositions $ (0.4) $ (8.0) $ (3.6) $ (13.3) Depreciation and amortization: U.S. Media (a) $ 33.3 $ 33.6 $ 100.0 $ 99.7 Other (a) 3.0 2.7 9.0 9.2 Total depreciation and amortization (a) $ 36.3 $ 36.3 $ 109.0 $ 108.9 Capital expenditures: U.S. Media $ 14.6 $ 9.4 $ 39.3 $ 40.3 Other 1.1 0.7 1.9 1.7 Total capital expenditures $ 15.7 $ 10.1 $ 41.2 $ 42.0 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $9.1 million in the three months ended September 30, 2020, of which $8.3 million was recorded in our U.S. Media segment and $0.8 million was recorded in Other , and $26.7 million in the nine months ended September 30, 2020, of which $25.1 million was recorded in our U.S. Media segment and $1.6 million was recorded in Othe r, from Amortization to SG&A expenses, resulting in a corresponding decrease in Adjusted OIBDA. As of (in millions) September 30, December 31, 2020 Assets: U.S. Media $ 5,058.2 $ 4,977.2 Other 241.4 249.5 Corporate 483.8 670.2 Total assets $ 5,783.4 $ 5,896.9

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 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)	9 Months Ended
	Sep. 30, 2021
Restricted Cash [Abstract]
Restricted Cash	As of (in millions) September 30, September 30, December 31, 2020 Cash and cash equivalents $ 510.3 $ 690.6 $ 710.4 Restricted cash — 1.6 1.6 Cash, cash equivalents and restricted cash $ 510.3 $ 692.2 $ 712.0

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 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 September 30, December 31, Land $ 102.8 $ 98.0 Buildings 20 to 40 years 49.3 48.3 Advertising structures 5 to 20 years 1,920.1 1,897.7 Furniture, equipment and other 3 to 10 years 174.8 168.5 Construction in progress 35.1 25.1 2,282.1 2,237.6 Less: Accumulated depreciation 1,652.5 1,603.4 Property and equipment, net $ 629.6 $ 634.2

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2021: Permits and leasehold agreements $ 1,232.6 $ (809.4) $ 423.2 Franchise agreements 526.0 (398.4) 127.6 Other intangible assets 20.3 (19.0) 1.3 Total intangible assets $ 1,778.9 $ (1,226.8) $ 552.1 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 (a) 24.1 (20.5) 3.6 Total intangible assets $ 1,728.8 $ (1,181.3) $ 547.5 (a) Certain intangible assets were fully amortized and no longer being utilized prior to 2020. As a result, we have revised previously reported gross other intangible assets and the related accumulated amortization as of December 31, 2020. The revision, which has no impact on the Consolidated Statement of Financial Position, decreased previously reported gross other intangible assets and accumulated amortization by $21.7 million.

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	9 Months Ended
	Sep. 30, 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 2.0 Additions 0.2 Liabilities settled (2.3) As of September 30, 2021 $ 35.8

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt, net, consists of the following: As of (in millions, except percentages) September 30, December 31, Short-term debt: Repurchase Facility $ — $ 80.0 Total short-term debt — 80.0 Long-term debt: Term loan, due 2026 598.1 597.8 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 (28.8) (28.3) Total long-term debt, net 2,619.3 2,620.8 Total debt, net $ 2,619.3 $ 2,700.8 Weighted average cost of debt 4.3 % 4.5 %

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes revenues by source: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Billboard: Static displays $ 220.0 $ 179.5 $ 593.4 $ 530.1 Digital displays 84.5 51.2 202.7 142.9 Other 12.9 9.2 32.2 26.3 Billboard revenues 317.4 239.9 828.3 699.3 Transit: Static displays 51.2 28.5 109.7 116.5 Digital displays 22.6 7.6 40.9 41.9 Other 7.7 5.8 18.5 16.6 Total transit revenues 81.5 41.9 169.1 175.0 Sports marketing and other 0.3 0.5 2.0 26.2 Transit and other revenues 81.8 42.4 171.1 201.2 Total revenues $ 399.2 $ 282.3 $ 999.4 $ 900.5
Revenue from External Customers by Geographic Areas	The following table summarizes revenues by geography: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 United States: Billboard $ 298.4 $ 226.0 $ 782.7 $ 663.9 Transit and other 77.8 39.8 160.7 170.1 Sports marketing and other 0.3 0.3 2.0 26.0 Total United States revenues 376.5 266.1 945.4 860.0 Canada 22.7 16.2 54.0 40.5 Total revenues $ 399.2 $ 282.3 $ 999.4 $ 900.5

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	The following table summarizes our stock-based compensation expense for the three and nine months ended September 30, 2021 and 2020. Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Stock-based compensation expenses (RSUs and PRSUs), before income taxes $ 7.2 $ 5.4 $ 20.7 $ 17.3 Tax benefit (0.3) (0.3) (1.0) (1.0) Stock-based compensation expense, net of tax $ 6.9 $ 5.1 $ 19.7 $ 16.3
Activity of RSUs and PRSUs Issued to Our Employees	The following table summarizes activity for the nine months ended September 30, 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 993,536 21.76 PRSUs 567,571 23.34 Vested: RSUs (714,016) 24.19 PRSUs (241,243) 21.83 Forfeitures: RSUs (61,421) 21.21 PRSUs (269,560) 30.27 Non-vested as of September 30, 2021 2,482,926 23.15
Activity of Stock Options Issued to Our Employees	The following table summarizes activity for the nine months ended September 30, 2021, of stock options issued to our employees. Activity Weighted Average Exercise Price Outstanding as of December 31, 2020 103,413 $ 26.39 Forfeited or expired (103,413) 26.39 Outstanding as of September 30, 2021 — —

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Components of net periodic pension cost: Service cost $ — $ 0.2 $ 0.2 $ 0.9 Interest cost 0.8 0.6 2.0 1.9 Expected return on plan assets (1.2) (1.0) (3.0) (3.0) Amortization of net actuarial losses (a) 0.3 — 0.7 0.5 Net periodic pension cost $ (0.1) $ (0.2) $ (0.1) $ 0.3 (a) Reflects amounts reclassified from accumulated other comprehensive income to net income.

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Net income (loss) available for common stockholders $ 33.1 $ (13.5) $ (35.5) $ (65.3) Less: Distributions to holders of Series A Preferred Stock 7.0 7.0 21.0 12.5 Less: Distributions to holders of Class A equity interests of a subsidiary — — — 0.4 Less: Undistributed earnings allocable to Class A equity interests of a subsidiary 0.3 — — — Net income (loss) available for common stockholders, basic and diluted $ 25.8 $ (20.5) $ (56.5) $ (78.2) Weighted average shares for basic EPS 145.6 144.4 145.3 144.2 Dilutive potential shares from grants of RSUs, PRSUs and stock options (a) 0.8 — — — Weighted average shares for basic and diluted EPS 146.4 144.4 145.3 144.2 (a) The potential impact of an aggregate 0.1 million granted RSUs, PRSUs and stock options in the three months ended September 30, 2021, 1.7 million granted RSUs, PRSUs and stock options in the three months ended September 30, 2020, 1.4 million granted RSUs, PRSUs and stock options in the nine months ended September 30, 2021, and 1.1 million granted RSUs, PRSUs and stock options in the nine months ended September 30, 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 each of the three months ended September 30, 2021 and 2020, 25.0 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the nine months ended September 30, 2021, and 15.0 million shares of our common stock issuable upon conversion of the Series A Preferred Stock in the nine months ended September 30, 2020, were antidilutive. (c) The potential impact of 0.4 million of Class A equity interests of Outfront Canada in the three months ended September 30, 2021, 0.9 million of Class A equity interests of Outfront Canada in the three months ended September 30, 2020, 0.6 million of Class A equity interests of Outfront Canada in the nine months ended September 30, 2021, and 1.0 million of Class A equity interests of Outfront Canada in the nine months ended September 30, 2020, was antidilutive. (See Note 10. Equity

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
MTA agreement schedule	(in millions) Beginning Balance Deployment Costs Incurred Recoupment/MTA Funding Amortization Ending Balance Nine months ended September 30, 2021: Prepaid MTA equipment deployment costs $ 204.6 $ 40.9 $ — $ — $ 245.5 Other current assets 28.0 6.3 (28.8) — 5.5 Intangible assets (franchise agreements) 58.4 11.4 — (7.3) 62.5 Total $ 291.0 $ 58.6 $ (28.8) $ (7.3) $ 313.5 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)	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Revenues: U.S. Media $ 376.2 $ 265.8 $ 943.4 $ 834.0 Other 23.0 16.5 56.0 66.5 Total revenues $ 399.2 $ 282.3 $ 999.4 $ 900.5
Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income	Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Net income (loss) before allocation to non-controlling interests $ 33.2 $ (13.3) $ (35.1) $ (65.0) (Benefit) provision for income taxes 1.1 3.5 (6.0) 0.3 Equity in earnings of investee companies, net of tax (1.1) 0.6 (0.6) 0.5 Interest expense, net 31.8 34.2 98.5 97.3 Loss on extinguishment of debt — — 6.3 — Other income, net — 0.1 — (0.1) Operating income 65.0 25.1 63.1 33.0 Restructuring charges — 0.6 — 5.3 Net gain on dispositions (0.4) (8.0) (3.6) (13.3) Depreciation and amortization (a) 36.3 36.3 109.0 108.9 Stock-based compensation 7.2 5.4 20.7 16.4 Total Adjusted OIBDA (a) $ 108.1 $ 59.4 $ 189.2 $ 150.3 Adjusted OIBDA: U.S. Media (a) $ 116.4 $ 65.9 $ 221.6 $ 177.3 Other (a) 4.8 2.4 4.4 (3.3) Corporate (13.1) (8.9) (36.8) (23.7) Total Adjusted OIBDA (a) $ 108.1 $ 59.4 $ 189.2 $ 150.3 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $9.1 million in the three months ended September 30, 2020, of which $8.3 million was recorded in our U.S. Media segment and $0.8 million was recorded in Other , and $26.7 million in the nine months ended September 30, 2020, of which $25.1 million was recorded in our U.S. Media segment and $1.6 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 Nine Months Ended September 30, September 30, (in millions) 2021 2020 2021 2020 Operating income (loss): U.S. Media $ 83.5 $ 31.9 $ 122.2 $ 75.4 Other 1.8 7.5 (1.6) (1.3) Corporate (20.3) (14.3) (57.5) (41.1) Total operating income $ 65.0 $ 25.1 $ 63.1 $ 33.0 Net gain on dispositions: U.S. Media $ (0.4) $ — $ (0.6) $ (1.2) Other — (8.0) (3.0) (12.1) Total gain on dispositions $ (0.4) $ (8.0) $ (3.6) $ (13.3) Depreciation and amortization: U.S. Media (a) $ 33.3 $ 33.6 $ 100.0 $ 99.7 Other (a) 3.0 2.7 9.0 9.2 Total depreciation and amortization (a) $ 36.3 $ 36.3 $ 109.0 $ 108.9 Capital expenditures: U.S. Media $ 14.6 $ 9.4 $ 39.3 $ 40.3 Other 1.1 0.7 1.9 1.7 Total capital expenditures $ 15.7 $ 10.1 $ 41.2 $ 42.0 (a) Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $9.1 million in the three months ended September 30, 2020, of which $8.3 million was recorded in our U.S. Media segment and $0.8 million was recorded in Other , and $26.7 million in the nine months ended September 30, 2020, of which $25.1 million was recorded in our U.S. Media segment and $1.6 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) September 30, December 31, 2020 Assets: U.S. Media $ 5,058.2 $ 4,977.2 Other 241.4 249.5 Corporate 483.8 670.2 Total assets $ 5,783.4 $ 5,896.9

Description of Business and B_3

Description of Business and Basis of Presentation - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2021marketssegment	Sep. 30, 2020USD ($)
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 | $	$ 9.1		$ 26.7
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	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Restricted Cash [Abstract]
Restricted cash	$ 0	$ 1.6	$ 1.6

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Restricted Cash [Abstract]
Cash and cash equivalents	$ 510.3	$ 710.4	$ 690.6
Restricted cash	0	1.6	1.6
Cash, cash equivalents and restricted cash	$ 510.3	$ 712	$ 692.2	$ 60.9

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Property and Equipment [Line Items]
Property and equipment	$ 2,282.1	$ 2,237.6
Less: Accumulated depreciation	1,652.5	1,603.4
Property and equipment, net	629.6	634.2
Land
Property and Equipment [Line Items]
Property and equipment	102.8	98
Buildings
Property and Equipment [Line Items]
Property and equipment	$ 49.3	$ 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	$ 1,920.1	$ 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	$ 174.8	$ 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	$ 35.1	$ 25.1

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation	$ 19.6	$ 21	$ 59.6	$ 63.2

Intangible Assets Schedule of F

Intangible Assets Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,778.9	$ 1,728.8
Accumulated amortization	(1,226.8)	(1,181.3)
Intangible assets	552.1	547.5
Permits and leasehold agreements
Finite-Lived Intangible Assets [Line Items]
Gross	1,232.6	1,190
Accumulated amortization	(809.4)	(777.1)
Intangible assets	423.2	412.9
Franchise agreements
Finite-Lived Intangible Assets [Line Items]
Gross	526	514.7
Accumulated amortization	(398.4)	(383.7)
Intangible assets	127.6	131
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	20.3	24.1
Accumulated amortization	(19)	(20.5)
Intangible assets	$ 1.3	$ 3.6

Intangible Assets Narrative (De

Intangible Assets Narrative (Details) - Intangible Assets $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)Displays	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Displays	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2018Displays
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,778.9		$ 1,778.9		$ 1,728.8
Accumulated amortization	(1,226.8)		(1,226.8)		(1,181.3)
Amortization	16.7	$ 15.3	$ 49.4	$ 45.7
Series of Individually Immaterial Asset Acquisitions
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life			17 years 8 months 12 days
Digital displays | Series of Individually Immaterial Asset Acquisitions
Finite-Lived Intangible Assets [Line Items]
Number of displays | Displays						14
Permits and leasehold agreements
Finite-Lived Intangible Assets [Line Items]
Gross	1,232.6		$ 1,232.6		1,190
Accumulated amortization	(809.4)		(809.4)		(777.1)
Permits and leasehold agreements | Series of Individually Immaterial Asset Acquisitions
Finite-Lived Intangible Assets [Line Items]
Gross	$ 40		$ 40
Permits and leasehold agreements | Digital displays | Series of Individually Immaterial Asset Acquisitions
Finite-Lived Intangible Assets [Line Items]
Number of displays | Displays	62		62
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	$ 20.3		$ 20.3		24.1
Accumulated amortization	$ (19)		$ (19)		(20.5)
Other intangible assets | Revision of Prior Period, Reclassification, Adjustment
Finite-Lived Intangible Assets [Line Items]
Gross					21.7
Accumulated amortization					$ (21.7)

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 1,436.9		$ 1,436.9		$ 1,421.3
Short-term operating lease liabilities	188.5		188.5		176.5
Operating lease liabilities	$ 1,260.7		$ 1,260.7		$ 1,252
Weighted average remaining lease term	10 years 7 months 6 days		10 years 7 months 6 days
Weighted average discount rate	5.30%		5.30%
Variable lease costs	$ 20.5	$ 16	$ 53.7	$ 52.7
Cash paid for operating leases			285.6	285.9
Operating lease asset obtained in exchange for operating lease liability			189.8	147.9
Rental income	305.2	231.7	798.6	676
Operating expense
Lessee, Lease, Description [Line Items]
Operating lease costs	100.9	94.3	294.5	290.1
Selling, general and administrative
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 2.4	$ 2.1	$ 6.9	$ 6.4

Asset Retirement Obligation - N

Asset Retirement Obligation - Narrative (Details)	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2021USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
As of December 31, 2020	$ 35.9
Accretion expense	2
Additions	0.2
Liabilities settled	(2.3)
As of September 30, 2021	$ 35.8

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)Displaysjoint_venture	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Displaysjoint_venture	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	50.00%		50.00%
Equity method investments | $	$ 10.5		$ 10.5		$ 10.5
Management fee revenue | $	$ 2	$ 1	$ 4.4	$ 3.5
Transit shelter joint ventures
Related Party Transaction [Line Items]
Equity method investment, number of investments | joint_venture	2		2
Acquired businesses
Related Party Transaction [Line Items]
Equity method investment, number of investments | joint_venture	4		4
Equity method investment, number of displays | Displays	7		7

Debt - Schedule of Debt Instrum

Debt - Schedule of Debt Instruments (Details) - USD ($) $ in Millions	Jan. 19, 2021	Sep. 30, 2021	Dec. 31, 2020	Feb. 16, 2021
Debt Instrument [Line Items]
Total short-term debt		$ 0	$ 80
Long-term debt, net		2,619.3	2,620.8
Total debt, net		$ 2,619.3	$ 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		(28.8)	(28.3)
Long-term debt | Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Long-term debt, net		598.1	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 ($)subsidiary	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 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		$ 0	$ (6.3)		$ 0	$ (6.3)	$ 0
Repayments of long-term debt						500	$ 495
Long-term debt, net		2,619.3				$ 2,619.3		$ 2,620.8
Debt Instrument, covenant description						The terms of the Credit Agreement (and under certain circumstances, the agreements governing the AR Facility) 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						8.2
Deferred financing costs		31.8				$ 31.8
Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Long-term debt at fair value		$ 2,700				$ 2,700		$ 2,800
Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Interest rate at period end		1.80%				1.80%
Unamortized debt discount		$ 1.9				$ 1.9
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
Loss on extinguishment of debt				$ 6.3
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%				4.25%
Senior unsecured notes | 6.250% senior unsecured notes, due 2025
Debt Instrument [Line Items]
Senior unsecured notes, due date						Jun. 15, 2025		Jun. 15, 2025
Stated interest rate		6.25%				6.25%		6.25%
Long-term debt | Secured debt | Term loan, due 2026
Debt Instrument [Line Items]
Long-term debt, net		$ 598.1				$ 598.1		$ 597.8
Long-term debt | Senior unsecured notes
Debt Instrument [Line Items]
Long-term debt, net		2,050				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				$ 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				$ 500		0
Long-term debt | Senior unsecured notes | 6.250% senior unsecured notes, due 2025
Debt Instrument [Line Items]
Long-term debt, net		400				$ 400		$ 400
Revolving credit facility
Debt Instrument [Line Items]
Debt Covenant, Consolidated net secured leverage ratio						4.5
Consolidated net secured leverage ratio						1.4
Revolving credit facility | Maximum
Debt Instrument [Line Items]
Debt Covenant, Restricted cash limit		$ 150				$ 150
Subsequent event | Senior Notes Due 2029 | Maximum
Debt Instrument [Line Items]
Percentage of Redeemable Debt Instrument Outstanding									40.00%
Subsequent event | Senior Notes Due 2029 | Minimum
Debt Instrument [Line Items]
Percentage of Debt Instrument Outstanding									50.00%

Debt - Narrative (Details) - Li

Debt - Narrative (Details) - Line of Credit Facility - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Fair Value, Inputs, Level 2
Line of Credit Facility [Line Items]
Interest rate cash flow hedge liability at fair value	$ 1,700,000		$ 1,700,000		$ 5,600,000
Interest Rate Swap
Line of Credit Facility [Line Items]
Derivative liability, notional amount	$ 200,000,000		$ 200,000,000
Derivative, fixed interest rate	2.70%		2.70%
Debt instrument, description of variable rate basis			one-month LIBOR
Variable interest rate	0.10%		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	$ 1,700,000		$ 1,700,000		5,600,000
Revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	500,000,000		500,000,000
Commitment fee for unused commitments	400,000	$ 600,000	$ 1,300,000	$ 1,200,000
Credit facility, expiration date			Nov. 18, 2024
Revolving credit facility | Long-term debt
Line of Credit Facility [Line Items]
Credit facility, outstanding amount	0		$ 0
Letter of credit sublimit to revolving credit facility
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount	4,000,000		4,000,000
Letter of credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	81,000,000		81,000,000
Letters of credit outstanding, amount	73,900,000		$ 73,900,000
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		$ 0
Line of credit facility, remaining borrowing capacity	0		0
Repurchase facility | Short-term debt
Line of Credit Facility [Line Items]
Credit facility, outstanding amount	0		0		$ 80,000,000
AR securitization facilities | Maximum
Line of Credit Facility [Line Items]
Debt instrument, collateral amount	$ 273,800,000		$ 273,800,000

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2021	Dec. 03, 2021	Oct. 26, 2021	Jun. 13, 2017	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Nov. 21, 2017
Class of Stock [Line Items]
Common stock authorized (shares)					450,000,000		450,000,000			450,000,000
Common stock, par value per share ($ per share)					$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Common stock issued (shares)					145,617,792		145,617,792			144,500,000
Common Stock, Shares, Outstanding					145,600,000		145,600,000			144,500,000
Preferred stock authorized (shares)					50,000,000		50,000,000			50,000,000
Preferred stock, par value per share ($ per share)					$ 0.01		$ 0.01
Series A Preferred Stock outstanding (shares)					400,000		400,000			400,000
Series A Preferred Stock issued (shares)					400,000		400,000			400,000
Series A Preferred Stock, par value per share ($ per share)					$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Series A Preferred Stock dividend rate (%)					7.00%	7.00%	7.00%	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		$ 16
Series A Preferred Stock, Common shares issuable (shares)					62.50		62.50
Distributions to holders of Class A equity interests of a subsidiary							$ 35.9	$ 68.1
Dividends declared per common share ($ per share)					$ 0.10		$ 0.10	$ 0.38
Subsequent event
Class of Stock [Line Items]
Dividends declared per common share ($ per share)			$ 0.10
Subsequent event | Ordinary Dividend
Class of Stock [Line Items]
Dividends payable, date declared			Oct. 26, 2021
Dividends payable, date to be paid	Dec. 31, 2021
Dividends payable, date of record		Dec. 3, 2021
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		$ 232.5						$ 300
Shares issued under the ATM Program (shares)					0		0
Noncontrolling Interest
Class of Stock [Line Items]
Distributions to holders of Class A equity interests of a subsidiary					$ 0	$ 0	$ 0	$ 0.4
Equity interests redeemed during the period (shares)							1,549,579
Noncontrolling Interest | Acquired businesses
Class of Stock [Line Items]
Business Acquisition, Equity interest issued (shares)				1,953,407
Series A Preferred Stock
Class of Stock [Line Items]
Series A Preferred Stock, Common shares issuable (shares)					25,000,000		25,000,000
Distributions to holders of Class A equity interests of a subsidiary					$ 7		$ 21

Revenues Disaggregation of Reve

Revenues Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Billboard	$ 317.4	$ 239.9	$ 828.3	$ 699.3
Transit	81.8	42.4	171.1	201.2
Revenues	399.2	282.3	999.4	900.5
Static displays
Disaggregation of Revenue [Line Items]
Billboard	220	179.5	593.4	530.1
Transit	51.2	28.5	109.7	116.5
Digital displays
Disaggregation of Revenue [Line Items]
Billboard	84.5	51.2	202.7	142.9
Transit	22.6	7.6	40.9	41.9
Other
Disaggregation of Revenue [Line Items]
Billboard	12.9	9.2	32.2	26.3
Transit	7.7	5.8	18.5	16.6
Transit
Disaggregation of Revenue [Line Items]
Transit	81.5	41.9	169.1	175
Sports marketing and other
Disaggregation of Revenue [Line Items]
Transit	$ 0.3	$ 0.5	$ 2	$ 26.2

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Rental income	$ 305.2	$ 231.7	$ 798.6	$ 676

Revenues Revenue from External

Revenues Revenue from External Customers by Geographic Areas (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Billboard	$ 317.4	$ 239.9	$ 828.3	$ 699.3
Transit and other	81.8	42.4	171.1	201.2
Revenues	399.2	282.3	999.4	900.5
United States
Disaggregation of Revenue [Line Items]
Billboard	298.4	226	782.7	663.9
Revenues	376.5	266.1	945.4	860
Canada
Disaggregation of Revenue [Line Items]
Revenues	22.7	16.2	54	40.5
Transit and other
Disaggregation of Revenue [Line Items]
Transit and other	81.5	41.9	169.1	175
Transit and other | United States
Disaggregation of Revenue [Line Items]
Transit and other	77.8	39.8	160.7	170.1
Sports marketing and other
Disaggregation of Revenue [Line Items]
Transit and other	0.3	0.5	2	26.2
Sports marketing and other | United States
Disaggregation of Revenue [Line Items]
Transit and other	$ 0.3	$ 0.3	$ 2	$ 26

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) $ in Millions	Jun. 15, 2020numberOfEmployees	May 05, 2020numberOfEmployees	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring reserve			$ 0.4		$ 0.4
Restructuring charges			$ 0	$ 0.6	$ 0	$ 5.3
Share-based compensation related to restructuring charges						0.9
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges						1
Operating segments | U.S. Media
Restructuring Cost and Reserve [Line Items]
Restructuring charges				0.4		3.4
Operating segments | Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 0.2		$ 0.9
United States
Restructuring Cost and Reserve [Line Items]
Number of employees notified of termination | numberOfEmployees		70
Canada
Restructuring Cost and Reserve [Line Items]
Number of employees notified of termination | numberOfEmployees	20

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)Displays	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2022USD ($)Displays
Asset Acquisition [Line Items]
Acquisitions | $		$ 55	$ 15.5
Series of Individually Immaterial Asset Acquisitions
Asset Acquisition [Line Items]
Acquisitions | $	$ 35.4
Subsequent event | Series of Individually Immaterial Asset Acquisitions
Asset Acquisition [Line Items]
Acquisitions | $				$ 9.2
Digital displays | Series of Individually Immaterial Asset Acquisitions
Asset Acquisition [Line Items]
Number of displays | Displays	14
Digital displays | Subsequent event | Series of Individually Immaterial Asset Acquisitions
Asset Acquisition [Line Items]
Number of displays | Displays				4
Static displays | Series of Individually Immaterial Asset Acquisitions
Asset 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit	$ (0.3)	$ (0.3)	$ (1)	$ (1)
Stock-based compensation expense, net of tax	6.9	5.1	19.7	16.3
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	$ 7.2	$ 5.4	$ 20.7	$ 17.3

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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	$ 37.4
Compensation cost not yet recognized, period for recognition	1 year 8 months 12 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)	9 Months Ended
	Sep. 30, 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 September 30, 2021 (shares) | shares	2,482,926
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 September 30, 2021 ($ per share) | $ / shares	$ 23.15
Restricted Stock Units (RSUs)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Granted (shares) | shares	993,536
Vested (shares) | shares	(714,016)
Forfeitures (shares) | shares	(61,421)
RSUs and PRSUs, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Grants ($ per share) | $ / shares	$ 21.76
Weighted Average Grant Date Fair Value, Vested ($ per share) | $ / shares	24.19
Weighted Average Grant Date Fair Value, Forfeited ($ per share) | $ / shares	$ 21.21
Performance Restricted Stock Units (PRSUs)
RSUs and PRSUs, Nonvested, Number of Shares [Roll Forward]
Granted (shares) | shares	567,571
Vested (shares) | shares	(241,243)
Forfeitures (shares) | shares	(269,560)
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	21.83
Weighted Average Grant Date Fair Value, Forfeited ($ per share) | $ / shares	$ 30.27

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Stock Options Roll Forward (Details) - $ / shares	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Forfeited or expired (shares)	(103,413)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Forfeited or expired ($ per share)	$ 26.39
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding as of December 31, 2020 (shares)	0	103,413
Outstanding as of September 30, 2021 (shares)	0	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)	$ 0	$ 26.39
Weighted average exercise price, options outstanding as of September 30, 2021 ($ per share)	$ 0	$ 26.39

Retirement Benefits - Schedule

Retirement Benefits - Schedule of Net Benefit Costs (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost		$ 0	$ 0.2	$ 0.2	$ 0.9
Interest cost		0.8	0.6	2	1.9
Expected return on plan assets		(1.2)	(1)	(3)	(3)
Amortization of net actuarial losses	[1]	0.3	0	0.7	0.5
Net periodic pension cost		$ (0.1)	$ (0.2)	$ (0.1)	$ 0.3
[1]	Reflects amounts reclassified from accumulated other comprehensive income to net income.

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Retirement Benefits [Abstract]
Pension contributions	$ 0.9
Estimated employer contributions in current fiscal year	$ 1.2

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	9 Months Ended
	Sep. 30, 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		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss) available for common stockholders		$ 33.1	$ (13.5)	$ (35.5)	$ (65.3)
Dividends				35.9	68.1
Net loss available for common stockholders, basic		25.8	(20.5)	(56.5)	(78.2)
Net loss available for common stockholders, diluted		$ 25.8	$ (20.5)	$ (56.5)	$ (78.2)
Weighted average number of shares for basic EPS (shares)		145.6	144.4	145.3	144.2
Dilutive potential shares from grants of RSUs, PRSUs and stock options (shares)	[1]	0.8	0	0	0
Weighted average number of shares for diluted EPS (shares)		146.4	144.4	145.3	144.2
Series A Preferred Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dividends		$ 7	$ 7	$ 21	$ 12.5
Noncontrolling Interest
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dividends		0	0	0	0.4
Less: Undistributed earnings allocable to Class A equity interests of a subsidiary		$ 0.3	$ 0	$ 0	$ 0
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	25	25	15
Noncontrolling Interest
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from EPS calculation (shares)		0.4	0.9	0.6	1
Stock compensation plan
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from EPS calculation (shares)		0.1	1.7	1.4	1.1
[1]	The potential impact of an aggregate 0.1 million granted RSUs, PRSUs and stock options in the three months ended September 30, 2021, 1.7 million granted RSUs, PRSUs and stock options in the three months ended September 30, 2020, 1.4 million granted RSUs, PRSUs and stock options in the nine months ended September 30, 2021, and 1.1 million granted RSUs, PRSUs and stock options in the nine months ended September 30, 2020, were antidilutive.

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details)	Jul. 29, 2021Displays	Jul. 28, 2021	Sep. 30, 2021USD ($)Displays	Sep. 30, 2021USD ($)Displays	Dec. 31, 2020USD ($)	Sep. 30, 2021USD ($)Displays	Dec. 31, 2026	Apr. 01, 2028USD ($)	Dec. 31, 2019USD ($)
Other Commitments [Line Items]
MTA equipment deployment costs limit			$ 313,500,000	$ 313,500,000	$ 291,000,000	$ 313,500,000			$ 209,800,000
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			77,900,000	77,900,000		77,900,000
Surety Bond
Other Commitments [Line Items]
Surety bonds outstanding			$ 166,600,000	166,600,000		166,600,000
MTA Agreement
Other Commitments [Line Items]
Contract term	13 years	10 years
Contract term extension option	5 years
MTA Agreement | Subsequent event
Other Commitments [Line Items]
Revenue share percentage							65.00%
Additional equipment deployment cost percentage								2.50%
MTA equipment deployment costs
Other Commitments [Line Items]
Other current assets				6,300,000	$ 44,400,000
MTA Funding
Other Commitments [Line Items]
Other current assets				$ (28,800,000)	$ (16,400,000)	$ (45,200,000)
Metropolitan Transportation Authority ("MTA")
Other Commitments [Line Items]
Equipment Deployment Costs Percentage					70.00%
Maximum | MTA Agreement | Subsequent event
Other Commitments [Line Items]
Decrease in revenue percentage								5.00%
Maximum | Metropolitan Transportation Authority ("MTA")
Other Commitments [Line Items]
MTA equipment deployment costs limit					$ 50,700,000
Minimum | Subsequent event
Other Commitments [Line Items]
Recoupment								$ 0
MTA digital advertising screens on subway and train platforms
Other Commitments [Line Items]
Number of displays | Displays	5,433
MTA smaller-format digital advertising screens rolling stock
Other Commitments [Line Items]
Number of displays | Displays	15,896
MTA communication displays
Other Commitments [Line Items]
Number of displays | Displays	9,283
MTA displays installed
Other Commitments [Line Items]
Number of displays | Displays			9,180	9,180		9,180
Number of display additions | Displays			1,359	1,800

Commitment and Contingencies MT

Commitment and Contingencies MTA Agreement Schedule (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended	21 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Sep. 30, 2021
Change In MTA Deployment Costs [Roll Forward]
Prepaid MTA equipment deployment costs, beginning of period			$ 204.6	$ 171.5	$ 171.5	$ 171.5
Other current assets, beginning of period			33.7
Intangible assets, gross, beginning of period			1,728.8
MTA deployment costs, beginning of period			291	209.8	209.8	209.8
Amortization	$ 16.7	$ 15.3	49.4	45.7
MTA equipment development cost additions			58.6		103.5
Total recoupment and MTA funding			(28.8)		(16.4)
Prepaid MTA equipment deployment costs, end of period	245.5		245.5		204.6	245.5
Intangible assets, gross, end of period	1,778.9		1,778.9		1,728.8	1,778.9
Other current assets, end of period	14.3		14.3		33.7	14.3
MTA deployment costs, end of period	313.5		313.5		291	313.5
MTA equipment deployment costs
Change In MTA Deployment Costs [Roll Forward]
Other current assets, beginning of period			28
Deployment costs incurred			40.9		33.1
Other current assets			6.3		44.4
Amortization			(7.3)		(5.9)
Other current assets, end of period	5.5		5.5		28	5.5
MTA Funding
Change In MTA Deployment Costs [Roll Forward]
Other current assets			(28.8)		(16.4)	(45.2)
Franchise agreements
Change In MTA Deployment Costs [Roll Forward]
Intangible assets, gross, beginning of period			514.7
Intangible assets, gross, end of period	526		526		514.7	526
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	38.3
Intangible asset additions			11.4		26
Amortization			(7.3)		(5.9)
Intangible assets, gross, end of period	$ 62.5		$ 62.5		$ 58.4	$ 62.5

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 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		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 399.2	$ 282.3	$ 999.4	$ 900.5
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Revenues	376.2	265.8	943.4	834
Operating segments | Other
Segment Reporting Information [Line Items]
Revenues	$ 23	$ 16.5	$ 56	$ 66.5

Segment Information - Adjusted

Segment Information - Adjusted OIBDA by Segment and Reconciliation to Consolidated Net Income (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020		Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net income (loss) before allocation to non-controlling interests	$ 33.2		$ (13.3)		$ (35.1)	$ (65)
Benefit for income taxes	1.1		3.5		(6)	0.3
Equity in earnings of investee companies, net of tax	(1.1)		0.6		(0.6)	0.5
Interest expense, net	31.8		34.2		98.5	97.3
Loss on extinguishment of debt	0	$ 6.3	0		6.3	0
Other income, net	0		0.1		0	(0.1)
Operating income (loss)	65		25.1		63.1	33
Restructuring charges	0		0.6		0	5.3
Net gain on dispositions	(0.4)		(8)		(3.6)	(13.3)
Depreciation and amortization	36.3		36.3	[1]	109	108.9	[1]
Stock-based compensation	7.2		5.4		20.7	16.4
Adjusted OIBDA	108.1		59.4	[1]	189.2	150.3	[1]
Capital expenditures					41.2	42
Amortization of direct lease acquisition costs			9.1			26.7
U.S. Media
Segment Reporting Information [Line Items]
Amortization of direct lease acquisition costs			8.3			25.1
Other
Segment Reporting Information [Line Items]
Amortization of direct lease acquisition costs			0.8			1.6
Operating segments
Segment Reporting Information [Line Items]
Operating income (loss)	65		25.1		63.1	33
Net gain on dispositions	(0.4)		(8)		(3.6)	(13.3)
Depreciation and amortization	36.3		36.3	[1]	109	108.9	[1]
Capital expenditures	15.7		10.1		41.2	42
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Operating income (loss)	83.5		31.9		122.2	75.4
Restructuring charges			0.4			3.4
Net gain on dispositions	(0.4)		0		(0.6)	(1.2)
Depreciation and amortization	33.3		33.6	[1]	100	99.7	[1]
Adjusted OIBDA	116.4		65.9	[1]	221.6	177.3	[1]
Capital expenditures	14.6		9.4		39.3	40.3
Operating segments | Other
Segment Reporting Information [Line Items]
Operating income (loss)	1.8		7.5		(1.6)	(1.3)
Restructuring charges			0.2			0.9
Net gain on dispositions	0		(8)		(3)	(12.1)
Depreciation and amortization	3		2.7	[1]	9	9.2	[1]
Adjusted OIBDA	4.8		2.4	[1]	4.4	(3.3)	[1]
Capital expenditures	1.1		0.7		1.9	1.7
Corporate
Segment Reporting Information [Line Items]
Operating income (loss)	(20.3)		(14.3)		(57.5)	(41.1)
Restructuring charges						1
Adjusted OIBDA	$ (13.1)		$ (8.9)		$ (36.8)	$ (23.7)
[1]	Consistent with the current year’s presentation, we have reclassified amortization of direct lease acquisition costs of $9.1 million in the three months ended September 30, 2020, of which $8.3 million was recorded in our U.S. Media segment and $0.8 million was recorded in Other , and $26.7 million in the nine months ended September 30, 2020, of which $25.1 million was recorded in our U.S. Media segment and $1.6 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	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 5,783.4	$ 5,896.9
Operating segments | U.S. Media
Segment Reporting Information [Line Items]
Total assets	5,058.2	4,977.2
Operating segments | Other
Segment Reporting Information [Line Items]
Total assets	241.4	249.5
Corporate
Segment Reporting Information [Line Items]
Total assets	$ 483.8	$ 670.2