Condensed Consolidating Financial Statements | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 |
Condensed Consolidated Financial Statements [Abstract] | | |
Condensed Financial Statements [Text Block] | Condensed Consolidating Information | We and our material existing and future direct and indirect 100% owned domestic subsidiaries (except the Borrowers under the Senior Credit Facilities), including Outdoor Inc., Outfront Media LLC, Outfront Media Group LLC, Outfront Media Outernet Inc., Outfront Media Sports Inc. and Outfront Media L.A. Inc., guarantee the obligations under the Term Loan and the Revolving Credit Facility. The Senior Notes and New Senior Notes are fully and unconditionally, and jointly and severally guaranteed on a senior unsecured basis by us and each of our direct and indirect wholly owned domestic subsidiaries that guarantees the Senior Credit Facilities (see Note 14. Subsequent Events and Note 15. Subsequent Events (Unaudited)). The Parent Company and the Subsidiary Issuer were formed in preparation for the split-off. The balances and activity with respect to these entities were minimal prior to our incurrence of indebtedness pursuant to the Senior Credit Facilities and the Senior Notes in January 2014. The following condensed consolidating schedules present financial information on a combined basis in conformity with the SEC’s Regulation S-X, Rule 3-10: |
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We and our material existing and future direct and indirect 100% owned domestic subsidiaries (except the Borrowers under the Senior Credit Facilities), including Outdoor Inc., Outfront Media LLC, Outfront Media Group LLC, Outfront Media Outernet Inc., Outfront Media Sports Inc. and Outfront Media L.A. Inc., guarantee the obligations under the Term Loan and the Revolving Credit Facility. The Senior Notes and New Senior Notes are fully and unconditionally, and jointly and severally guaranteed on a senior unsecured basis by us and each of our direct and indirect wholly owned domestic subsidiaries that guarantees the Senior Credit Facilities (see Note 8. Long-Term Debt and Note 17. Subsequent Events). The Parent Company and the Subsidiary Issuer were formed in preparation for the Separation. The balances and activity with respect to these entities were minimal prior to our incurrence of indebtedness pursuant to the Senior Credit Facilities and the Senior Notes in January 2014. The following condensed consolidating schedules present financial information on a combined basis in conformity with the SEC’s Regulation S-X, Rule 3-10: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | As of December 31, 2013 |
| | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
| | As of September 30, 2014 | Current assets: | | | | | | | | | | | | |
(in millions) | | Parent Company | | Subsidiary Issuer(a) | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Cash and cash equivalents | | $ | — | | | $ | — | | | $ | 2.1 | | | $ | 27.7 | | | $ | — | | | $ | 29.8 | |
Current assets: | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 230 | | | $ | 23.5 | | | $ | 18.7 | | | $ | — | | | $ | 272.2 | | Receivables, less allowances | | — | | | — | | | 146 | | | 32.8 | | | — | | | 178.8 | |
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Receivables, less allowances | | — | | | — | | | 140.9 | | | 34.7 | | | — | | | 175.6 | | Other current assets | | — | | | — | | | 89.1 | | | 19.5 | | | — | | | 108.6 | |
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Other current assets | | — | | | 4.1 | | | 87.4 | | | 21.5 | | | — | | | 113 | | Total current assets | | — | | | — | | | 237.2 | | | 80 | | | — | | | 317.2 | |
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Total current assets | | — | | | 234.1 | | | 251.8 | | | 74.9 | | | — | | | 560.8 | | Property and equipment, net | | — | | | — | | | 628.1 | | | 127.3 | | | — | | | 755.4 | |
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Property and equipment, net | | — | | | — | | | 596.2 | | | 108.2 | | | — | | | 704.4 | | Goodwill | | — | | | — | | | 1,751.60 | | | 114.1 | | | — | | | 1,865.70 | |
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Goodwill | | — | | | — | | | 1,751.40 | | | 109 | | | — | | | 1,860.40 | | Intangible assets | | — | | | — | | | 364.2 | | | 0.2 | | | — | | | 364.4 | |
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Intangible assets | | — | | | — | | | 319.9 | | | 0.2 | | | — | | | 320.1 | | Investment in subsidiaries | | — | | | — | | | 232.9 | | | — | | | (232.9 | ) | | — | |
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Investment in subsidiaries | | 1,567.00 | | | 2,935.50 | | | 218.6 | | | — | | | (4,721.1 | ) | | — | | Other assets | | — | | | — | | | 46.5 | | | 6.3 | | | — | | | 52.8 | |
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Other assets | | — | | | 23.9 | | | 48.1 | | | 5.1 | | | — | | | 77.1 | | Intercompany | | — | | | — | | | 66 | | | 55.7 | | | (121.7 | ) | | — | |
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Intercompany | | — | | | — | | | 66.1 | | | 54.8 | | | (120.9 | ) | | — | | Total assets | | $ | — | | | $ | — | | | $ | 3,326.50 | | | $ | 383.6 | | | $ | (354.6 | ) | | $ | 3,355.50 | |
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Total assets | | $ | 1,567.00 | | | $ | 3,193.50 | | | $ | 3,252.10 | | | $ | 352.2 | | | $ | (4,842.0 | ) | | $ | 3,522.80 | | | | | | | | | | | | | | |
Total current liabilities | | $ | — | | | $ | — | | | $ | 168.3 | | | $ | 43.9 | | | $ | — | | | $ | 212.2 | |
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Total current liabilities | | $ | — | | | $ | 28.3 | | | $ | 176.4 | | | $ | 33.2 | | | $ | — | | | $ | 237.9 | | Deferred income tax liabilities, net | | — | | | — | | | 259.4 | | | 29.1 | | | — | | | 288.5 | |
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Long-term debt | | — | | | 1,598.20 | | | — | | | — | | | — | | | 1,598.20 | | Asset retirement obligation | | — | | | — | | | 23.1 | | | 8.6 | | | — | | | 31.7 | |
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Deferred income tax liabilities, net | | — | | | — | | | (1.1 | ) | | 23.9 | | | — | | | 22.8 | | Other liabilities | | — | | | — | | | 65.6 | | | 3.1 | | | — | | | 68.7 | |
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Asset retirement obligation | | — | | | — | | | 23.7 | | | 8.6 | | | — | | | 32.3 | | Intercompany | | — | | | — | | | 55.7 | | | 66 | | | (121.7 | ) | | — | |
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Deficit in excess of investment in subsidiaries | | — | | | — | | | 1,368.50 | | | — | | | (1,368.5 | ) | | — | | Total liabilities | | — | | | — | | | 572.1 | | | 150.7 | | | (121.7 | ) | | 601.1 | |
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Other liabilities | | — | | | — | | | 62.8 | | | 1.8 | | | — | | | 64.6 | | Total invested equity | | — | | | — | | | 2,754.40 | | | 232.9 | | | (232.9 | ) | | 2,754.40 | |
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Intercompany | | — | | | — | | | 54.8 | | | 66.1 | | | (120.9 | ) | | — | | Total liabilities and invested equity | | $ | — | | | $ | — | | | $ | 3,326.50 | | | $ | 383.6 | | | $ | (354.6 | ) | | $ | 3,355.50 | |
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Total liabilities | | — | | | 1,626.50 | | | 1,685.10 | | | 133.6 | | | (1,489.4 | ) | | 1,955.80 | | |
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Total stockholders’ equity | | 1,567.00 | | | 1,567.00 | | | 1,567.00 | | | 218.6 | | | (3,352.6 | ) | | 1,567.00 | | | | As of December 31, 2012 |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Total liabilities and shareholders’ equity | | $ | 1,567.00 | | | $ | 3,193.50 | | | $ | 3,252.10 | | | $ | 352.2 | | | $ | (4,842.0 | ) | | $ | 3,522.80 | | Current assets: | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | — | | | $ | 9.5 | | | $ | 10.7 | | | $ | — | | | $ | 20.2 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | Receivables, less allowances | | — | | | — | | | 138 | | | 37.1 | | | — | | | 175.1 | |
(a) | Outfront Media Capital Corporation is a co-issuer finance subsidiary with no assets or liabilities and has not been presented herein. | | | | | | | | | | | | | | | | | | | | | | | |
| Other current assets | | — | | | — | | | 98.2 | | | 21.5 | | | — | | | 119.7 | |
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| | As of December 31, 2013 | Total current assets | | — | | | — | | | 245.7 | | | 69.3 | | | — | | | 315 | |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Current assets: | | | | | | | | | | | | | Property and equipment, net | | — | | | — | | | 655.8 | | | 152.1 | | | — | | | 807.9 | |
Cash and cash equivalents | | $ | — | | | $ | — | | | $ | 2.1 | | | $ | 27.7 | | | $ | — | | | $ | 29.8 | |
Goodwill | | — | | | — | | | 1,758.00 | | | 119.2 | | | — | | | 1,877.20 | |
Receivables, less allowances | | — | | | — | | | 146 | | | 32.8 | | | — | | | 178.8 | |
Intangible assets | | — | | | — | | | 419.7 | | | 0.3 | | | — | | | 420 | |
Other current assets | | — | | | — | | | 89.1 | | | 19.5 | | | — | | | 108.6 | |
Investment in subsidiaries | | — | | | — | | | 241 | | | — | | | (241.0 | ) | | — | |
Total current assets | | — | | | — | | | 237.2 | | | 80 | | | — | | | 317.2 | |
Other assets | | — | | | — | | | 35.2 | | | 9.6 | | | — | | | 44.8 | |
Property and equipment, net | | — | | | — | | | 628.1 | | | 127.3 | | | — | | | 755.4 | |
Intercompany | | — | | | — | | | 65.8 | | | 56.5 | | | (122.3 | ) | | — | |
Goodwill | | — | | | — | | | 1,751.60 | | | 114.1 | | | — | | | 1,865.70 | |
Total assets | | $ | — | | | $ | — | | | $ | 3,421.20 | | | $ | 407 | | | $ | (363.3 | ) | | $ | 3,464.90 | |
Intangible assets | | — | | | — | | | 364.2 | | | 0.2 | | | — | | | 364.4 | |
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Investment in subsidiaries | | — | | | — | | | 232.9 | | | — | | | (232.9 | ) | | — | | Total current liabilities | | $ | — | | | $ | — | | | $ | 158.7 | | | $ | 46.9 | | | $ | — | | | $ | 205.6 | |
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Other assets | | — | | | — | | | 46.5 | | | 6.3 | | | — | | | 52.8 | | Deferred income tax liabilities, net | | — | | | — | | | 276.8 | | | 37 | | | — | | | 313.8 | |
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Intercompany | | — | | | — | | | 66 | | | 55.7 | | | (121.7 | ) | | — | | Asset retirement obligation | | — | | | — | | | 28 | | | 2.6 | | | — | | | 30.6 | |
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Total assets | | $ | — | | | $ | — | | | $ | 3,326.50 | | | $ | 383.6 | | | $ | (354.6 | ) | | $ | 3,355.50 | | Other liabilities | | — | | | — | | | 57.3 | | | 13.7 | | | — | | | 71 | |
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| | | | | | | | | | | | | Intercompany | | — | | | — | | | 56.5 | | | 65.8 | | | (122.3 | ) | | — | |
Total current liabilities | | $ | — | | | $ | — | | | $ | 168.3 | | | $ | 43.9 | | | $ | — | | | $ | 212.2 | |
Total liabilities | | — | | | — | | | 577.3 | | | 166 | | | (122.3 | ) | | 621 | |
Deferred income tax liabilities, net | | — | | | — | | | 259.4 | | | 29.1 | | | — | | | 288.5 | |
Total invested equity | | — | | | — | | | 2,843.90 | | | 241 | | | (241.0 | ) | | 2,843.90 | |
Asset retirement obligation | | — | | | — | | | 23.1 | | | 8.6 | | | — | | | 31.7 | |
Total liabilities and invested equity | | $ | — | | | $ | — | | | $ | 3,421.20 | | | $ | 407 | | | $ | (363.3 | ) | | $ | 3,464.90 | |
Other liabilities | | — | | | — | | | 65.6 | | | 3.1 | | | — | | | 68.7 | |
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Intercompany | | — | | | — | | | 55.7 | | | 66 | | | (121.7 | ) | | — | | |
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Total liabilities | | — | | | — | | | 572.1 | | | 150.7 | | | (121.7 | ) | | 601.1 | | | | Year Ended December 31, 2013 |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Total invested equity | | — | | | — | | | 2,754.40 | | | 232.9 | | | (232.9 | ) | | 2,754.40 | | Revenues: | | | | | | | | | | | | |
Billboard | | $ | — | | | $ | — | | | $ | 796.6 | | | $ | 129.1 | | | $ | — | | | $ | 925.7 | |
Total liabilities and invested equity | | $ | — | | | $ | — | | | $ | 3,326.50 | | | $ | 383.6 | | | $ | (354.6 | ) | | $ | 3,355.50 | |
Transit and other | | — | | | — | | | 333.5 | | | 34.8 | | | — | | | 368.3 | |
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| Total revenues | | — | | | — | | | 1,130.10 | | | 163.9 | | | — | | | 1,294.00 | |
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| | Nine Months Ended September 30, 2014 | Expenses: | | | | | | | | | | | | |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Operating | | — | | | — | | | 584.2 | | | 102.7 | | | — | | | 686.9 | |
Revenues: | | | | | | | | | | | | |
Billboard | | $ | — | | | $ | — | | | $ | 599.7 | | | $ | 90.5 | | | $ | — | | | $ | 690.2 | | Selling, general and administrative | | — | | | — | | | 167.7 | | | 32.1 | | | — | | | 199.8 | |
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Transit and other | | — | | | — | | | 242.7 | | | 25.9 | | | — | | | 268.6 | | Net (gain) loss on dispositions | | — | | | — | | | (27.5 | ) | | 0.2 | | | — | | | (27.3 | ) |
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Total revenues | | — | | | — | | | 842.4 | | | 116.4 | | | — | | | 958.8 | | Depreciation | | — | | | — | | | 80.7 | | | 23.8 | | | — | | | 104.5 | |
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Expenses: | | | | | | | | | | | | | Amortization | | — | | | — | | | 86.1 | | | 5.2 | | | — | | | 91.3 | |
Operating | | — | | | — | | | 436.2 | | | 76.1 | | | — | | | 512.3 | |
Total expenses | | — | | | — | | | 891.2 | | | 164 | | | — | | | 1,055.20 | |
Selling, general and administrative | | 0.9 | | | — | | | 136.8 | | | 23.4 | | | — | | | 161.1 | |
Operating income | | — | | | — | | | 238.9 | | | (0.1 | ) | | — | | | 238.8 | |
Restructuring charges | | — | | | — | | | 6.2 | | | — | | | — | | | 6.2 | |
Other income (expenses) | | — | | | — | | | (0.2 | ) | | (1.0 | ) | | — | | | (1.2 | ) |
Acquisition costs | | — | | | — | | | 1.4 | | | — | | | — | | | 1.4 | |
Income before income taxes and equity earnings of investee | | — | | | — | | | 238.7 | | | (1.1 | ) | | — | | | 237.6 | |
Net (gain) loss on dispositions | | — | | | — | | | (1.3 | ) | | (0.1 | ) | | — | | | (1.4 | ) |
Provision for income taxes | | — | | | — | | | (93.3 | ) | | (3.3 | ) | | — | | | (96.6 | ) |
Depreciation | | — | | | — | | | 62.2 | | | 17.1 | | | — | | | 79.3 | |
Equity in earnings of investee companies, net of tax | | — | | | — | | | (1.9 | ) | | — | | | 4.4 | | | 2.5 | |
Amortization | | — | | | — | | | 63.6 | | | 3.7 | | | — | | | 67.3 | |
Net income | | $ | — | | | $ | — | | | $ | 143.5 | | | $ | (4.4 | ) | | $ | 4.4 | | | $ | 143.5 | |
Total expenses | | 0.9 | | | — | | | 705.1 | | | 120.2 | | | — | | | 826.2 | |
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Operating income | | (0.9 | ) | | — | | | 137.3 | | | (3.8 | ) | | — | | | 132.6 | | Net income | | $ | — | | | $ | — | | | $ | 143.5 | | | $ | (4.4 | ) | | $ | 4.4 | | | $ | 143.5 | |
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Interest expense | | — | | | (57.3 | ) | | (0.1 | ) | | 0.1 | | | — | | | (57.3 | ) | Other comprehensive income (loss), net of tax: | | | | | | | | | | | | |
Cumulative translation adjustments | | — | | | — | | | (14.9 | ) | | (14.9 | ) | | 14.9 | | | (14.9 | ) |
Other income (expenses) | | — | | | — | | | — | | | (0.5 | ) | | — | | | (0.5 | ) |
Net actuarial loss | | — | | | — | | | 5.8 | | | 5.6 | | | (5.6 | ) | | 5.8 | |
Income before income taxes and equity earnings of investee | | (0.9 | ) | | (57.3 | ) | | 137.2 | | | (4.2 | ) | | — | | | 74.8 | |
Total other comprehensive income (loss), net of tax | | — | | | — | | | (9.1 | ) | | (9.3 | ) | | 9.3 | | | (9.1 | ) |
Provision for income taxes | | — | | | — | | | 205.2 | | | (2.3 | ) | | — | | | 202.9 | |
Total comprehensive income | | $ | — | | | $ | — | | | $ | 134.4 | | | $ | (13.7 | ) | | $ | 13.7 | | | $ | 134.4 | |
Equity in earnings of investee companies, net of tax | | 280 | | | 337.3 | | | (62.4 | ) | | 0.4 | | | (553.9 | ) | | 1.4 | |
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Net income | | $ | 279.1 | | | $ | 280 | | | $ | 280 | | | $ | (6.1 | ) | | $ | (553.9 | ) | | $ | 279.1 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Year Ended December 31, 2012 |
| | | | | | | | | | | | | (in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Net income | | $ | 279.1 | | | $ | 280 | | | $ | 280 | | | $ | (6.1 | ) | | $ | (553.9 | ) | | $ | 279.1 | | Revenues: | | | | | | | | | | | | |
Billboard | | $ | — | | | $ | — | | | $ | 770.7 | | | $ | 142.9 | | | $ | — | | | $ | 913.6 | |
Other comprehensive income (loss), net of tax: | | | | | | | | | | | | |
Cumulative translation adjustments | | (3.1 | ) | | (3.1 | ) | | (3.1 | ) | | (3.1 | ) | | 9.3 | | | (3.1 | ) | Transit and other | | — | | | — | | | 327.9 | | | 43.1 | | | — | | | 371 | |
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Net actuarial loss | | 0.2 | | | 0.2 | | | 0.2 | | | 0.2 | | | (0.6 | ) | | 0.2 | | Total revenues | | — | | | — | | | 1,098.60 | | | 186 | | | — | | | 1,284.60 | |
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Deferred tax rate adjustment | | (1.2 | ) | | (1.2 | ) | | (1.2 | ) | | (1.2 | ) | | 3.6 | | | (1.2 | ) | Expenses: | | | | | | | | | | | | |
Operating | | — | | | — | | | 577.9 | | | 122.2 | | | — | | | 700.1 | |
Total other comprehensive income (loss), net of tax | | (4.1 | ) | | (4.1 | ) | | (4.1 | ) | | (4.1 | ) | | 12.3 | | | (4.1 | ) |
Selling, general and administrative | | — | | | — | | | 148.5 | | | 33.3 | | | — | | | 181.8 | |
Total comprehensive income | | $ | 275 | | | $ | 275.9 | | | $ | 275.9 | | | $ | (10.2 | ) | | $ | (541.6 | ) | | $ | 275 | |
Restructuring charges | | — | | | — | | | 1.8 | | | 0.7 | | | — | | | 2.5 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | Net (gain) loss on dispositions | | — | | | — | | | 1.6 | | | 0.6 | | | — | | | 2.2 | |
| | Nine Months Ended September 30, 2013 |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | Depreciation | | — | | | — | | | 80.4 | | | 25.5 | | | — | | | 105.9 | |
Revenues: | | | | | | | | | | | | |
Billboard | | $ | — | | | $ | — | | | $ | 589.8 | | | $ | 96 | | | $ | — | | | $ | 685.8 | | Amortization | | — | | | — | | | 85.2 | | | 5.7 | | | — | | | 90.9 | |
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Transit and other | | — | | | — | | | 237.8 | | | 26.5 | | | — | | | 264.3 | | Total expenses | | — | | | — | | | 895.4 | | | 188 | | | — | | | 1,083.40 | |
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Total revenues | | — | | | — | | | 827.6 | | | 122.5 | | | — | | | 950.1 | | Operating income (loss) | | — | | | — | | | 203.2 | | | (2.0 | ) | | — | | | 201.2 | |
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Expenses: | | | | | | | | | | | | | Other income (expenses) | | — | | | — | | | (0.1 | ) | | (0.9 | ) | | — | | | (1.0 | ) |
Operating | | — | | | — | | | 426.1 | | | 78.4 | | | — | | | 504.5 | |
Income before income taxes and equity earnings of investee | | — | | | — | | | 203.1 | | | (2.9 | ) | | — | | | 200.2 | |
Selling, general and administrative | | — | | | — | | | 122.7 | | | 24.1 | | | — | | | 146.8 | |
Provision for income taxes | | — | | | — | | | (87.3 | ) | | (1.7 | ) | | — | | | (89.0 | ) |
Net (gain) loss on dispositions | | — | | | — | | | (10.0 | ) | | 0.2 | | | — | | | (9.8 | ) |
Equity in earnings of investee companies, net of tax | | — | | | — | | | (2.4 | ) | | — | | | 4.6 | | | 2.2 | |
Depreciation | | — | | | — | | | 60.5 | | | 17.8 | | | — | | | 78.3 | |
Net income | | $ | — | | | $ | — | | | $ | 113.4 | | | $ | (4.6 | ) | | $ | 4.6 | | | $ | 113.4 | |
Amortization | | — | | | — | | | 64.3 | | | 3.9 | | | — | | | 68.2 | |
| | | | | | | | | | | | |
Total expenses | | — | | | — | | | 663.6 | | | 124.4 | | | — | | | 788 | | Net income | | $ | — | | | $ | — | | | $ | 113.4 | | | $ | (4.6 | ) | | $ | 4.6 | | | $ | 113.4 | |
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Operating income (loss) | | — | | | — | | | 164 | | | (1.9 | ) | | — | | | 162.1 | | Other comprehensive income (loss), net of tax: | | | | | | | | | | | | |
Cumulative translation adjustments | | — | | | — | | | 11 | | | 11 | | | (11.0 | ) | | 11 | |
Interest expense | | — | | | — | | | — | | | — | | | — | | | — | |
Net actuarial loss | | — | | | — | | | (1.4 | ) | | (1.3 | ) | | 1.3 | | | (1.4 | ) |
Other income (expenses) | | — | | | — | | | (0.1 | ) | | 0.1 | | | — | | | — | |
Total other comprehensive income (loss), net of tax | | — | | | — | | | 9.6 | | | 9.7 | | | (9.7 | ) | | 9.6 | |
Income before income taxes and equity earnings of investee | | — | | | — | | | 163.9 | | | (1.8 | ) | | — | | | 162.1 | |
Total comprehensive income | | $ | — | | | $ | — | | | $ | 123 | | | $ | 5.1 | | | $ | (5.1 | ) | | $ | 123 | |
Provision for income taxes | | — | | | — | | | (68.2 | ) | | (2.3 | ) | | — | | | (70.5 | ) |
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Equity in earnings of investee companies, net of tax | | — | | | — | | | (2.2 | ) | | — | | | 4.1 | | | 1.9 | | |
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Net income | | $ | — | | | $ | — | | | $ | 93.5 | | | $ | (4.1 | ) | | $ | 4.1 | | | $ | 93.5 | | | | Year Ended December 31, 2011 |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
| | | | | | | | | | | | | Revenues: | | | | | | | | | | | | |
Net income | | $ | — | | | $ | — | | | $ | 93.5 | | | $ | (4.1 | ) | | $ | 4.1 | | | $ | 93.5 | | Billboard | | $ | — | | | $ | — | | | $ | 746.8 | | | $ | 147.4 | | | $ | — | | | $ | 894.2 | |
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Other comprehensive income (loss), net of tax: | | | | | | | | | | | | | Transit and other | | — | | | — | | | 304.7 | | | 78.2 | | | — | | | 382.9 | |
Cumulative translation adjustments | | — | | | — | | | (12.3 | ) | | (12.3 | ) | | 12.3 | | | (12.3 | ) |
Total revenues | | — | | | — | | | 1,051.50 | | | 225.6 | | | — | | | 1,277.10 | |
Net actuarial loss | | — | | | — | | | 0.4 | | | 0.4 | | | (0.4 | ) | | 0.4 | |
Expenses: | | | | | | | | | | | | |
Total other comprehensive income (loss), net of tax | | — | | | — | | | (11.9 | ) | | (11.9 | ) | | 11.9 | | | (11.9 | ) | Operating | | — | | | — | | | 554.3 | | | 135.1 | | | — | | | 689.4 | |
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Total comprehensive income | | $ | — | | | $ | — | | | $ | 81.6 | | | $ | (16.0 | ) | | $ | 16 | | | $ | 81.6 | | Selling, general and administrative | | — | | | — | | | 145.1 | | | 33.3 | | | — | | | 178.4 | |
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| Restructuring charges | | — | | | — | | | 2.2 | | | 0.8 | | | — | | | 3 | |
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| | Nine Months Ended September 30, 2014 | Net (gain) loss on dispositions | | — | | | — | | | 2.1 | | | (0.1 | ) | | — | | | 2 | |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Cash provided by operating activities | | $ | (0.9 | ) | | $ | (25.6 | ) | | $ | 213.9 | | | $ | (2.9 | ) | | $ | — | | | $ | 184.5 | | Depreciation | | — | | | — | | | 81.5 | | | 27.5 | | | — | | | 109 | |
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Cash used in investing activities | | — | | | — | | | (35.3 | ) | | (6.0 | ) | | — | | | (41.3 | ) | Amortization | | — | | | — | | | 86.7 | | | 16.2 | | | — | | | 102.9 | |
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Financing activities: | | | | | | | | | | | | | Total expenses | | — | | | — | | | 871.9 | | | 212.8 | | | — | | | 1,084.70 | |
Proceeds from IPO | | 615 | | | — | | | — | | | — | | | — | | | 615 | |
Operating income (loss) | | — | | | — | | | 179.6 | | | 12.8 | | | — | | | 192.4 | |
Proceeds from long-term debt borrowings | | — | | | 1,598.00 | | | — | | | — | | | — | | | 1,598.00 | |
Other income (expenses) | | — | | | — | | | (0.1 | ) | | 0.9 | | | — | | | 0.8 | |
Deferred financing fees | | — | | | (24.8 | ) | | — | | | — | | | — | | | (24.8 | ) |
Income before income taxes and equity earnings of investee | | — | | | — | | | 179.5 | | | 13.7 | | | — | | | 193.2 | |
Distribution of debt and IPO proceeds to CBS | | (515.0 | ) | | (1,523.8 | ) | | — | | | — | | | — | | | (2,038.8 | ) |
Provision for income taxes | | — | | | — | | | (79.2 | ) | | (8.6 | ) | | — | | | (87.8 | ) |
Net cash contribution from CBS | | — | | | — | | | 39.8 | | | — | | | — | | | 39.8 | |
Equity in earnings of investee companies, net of tax | | — | | | — | | | 6.8 | | | — | | | (5.1 | ) | | 1.7 | |
Dividends | | (88.8 | ) | | — | | | — | | | — | | | — | | | (88.8 | ) |
Net income | | $ | — | | | $ | — | | | $ | 107.1 | | | $ | 5.1 | | | $ | (5.1 | ) | | $ | 107.1 | |
Intercompany | | (10.3 | ) | | 206.2 | | | (197.0 | ) | | 1.1 | | | — | | | — | |
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Cash used in financing activities | | 0.9 | | | 255.6 | | | (157.2 | ) | | 1.1 | | | — | | | 100.4 | | Net income | | $ | — | | | $ | — | | | $ | 107.1 | | | $ | 5.1 | | | $ | (5.1 | ) | | $ | 107.1 | |
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Effect of exchange rate on cash and cash equivalents | | — | | | — | | | — | | | (1.2 | ) | | — | | | (1.2 | ) | Other comprehensive income (loss), net of tax: | | | | | | | | | | | | |
Cumulative translation adjustments | | — | | | — | | | (14.3 | ) | | (14.3 | ) | | 14.3 | | | (14.3 | ) |
Net increase (decrease) in cash and cash equivalents | | — | | | 230 | | | 21.4 | | | (9.0 | ) | | — | | | 242.4 | |
Net actuarial loss | | — | | | — | | | (3.2 | ) | | (3.0 | ) | | 3 | | | (3.2 | ) |
Cash and cash equivalents at beginning of period | | — | | | — | | | 2.1 | | | 27.7 | | | — | | | 29.8 | |
Total other comprehensive income (loss), net of tax | | — | | | — | | | (17.5 | ) | | (17.3 | ) | | 17.3 | | | (17.5 | ) |
Cash and cash equivalents at end of period | | $ | — | | | $ | 230 | | | $ | 23.5 | | | $ | 18.7 | | | $ | — | | | $ | 272.2 | |
Total comprehensive income | | $ | — | | | $ | — | | | $ | 89.6 | | | $ | (12.2 | ) | | $ | 12.2 | | | $ | 89.6 | |
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| | Nine Months Ended September 30, 2013 | | | | | | | | | | | | | | | | | | | | | | | | | |
(in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated | | | Year Ended December 31, 2013 |
Cash provided by operating activities | | $ | — | | | $ | — | | | $ | 175 | | | $ | 3.7 | | | $ | — | | | $ | 178.7 | | (in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Cash provided by operating activities | | $ | — | | | $ | — | | | $ | 268.2 | | | $ | 12.9 | | | $ | — | | | $ | 281.1 | |
Cash used in investing activities | | — | | | — | | | (37.2 | ) | | (3.9 | ) | | — | | | (41.1 | ) |
Cash used in investing activities | | — | | | — | | | (37.0 | ) | | (6.7 | ) | | — | | | (43.7 | ) |
Financing activities: | | | | | | | | | | | | |
Excess tax benefit from stock-based compensation | | — | | | — | | | 5.5 | | | — | | | — | | | 5.5 | | Financing activities: | | | | | | | | | | | | |
Excess tax benefit from stock-based compensation | | — | | | — | | | 5.8 | | | — | | | — | | | 5.8 | |
Net cash distribution to CBS | | — | | | — | | | (143.3 | ) | | 4.7 | | | — | | | (138.6 | ) |
Net cash (distribution to)/contribution from CBS | | — | | | — | | | (244.4 | ) | | 11.8 | | | — | | | (232.6 | ) |
Cash used in financing activities | | — | | | — | | | (137.8 | ) | | 4.7 | | | — | | | (133.1 | ) |
Other | | — | | | — | | | — | | | (0.2 | ) | | — | | | (0.2 | ) |
Effect of exchange rate on cash and cash equivalents | | — | | | — | | | — | | | (0.6 | ) | | — | | | (0.6 | ) |
Cash used in financing activities | | — | | | — | | | (238.6 | ) | | 11.6 | | | — | | | (227.0 | ) |
Net increase (decrease) in cash and cash equivalents | | — | | | — | | | — | | | 3.9 | | | — | | | 3.9 | |
Effect of exchange rate on cash and cash equivalents | | — | | | — | | | — | | | (0.8 | ) | | — | | | (0.8 | ) |
Cash and cash equivalents at beginning of period | | — | | | — | | | 9.5 | | | 10.7 | | | — | | | 20.2 | |
Net increase (decrease) in cash and cash equivalents | | — | | | — | | | (7.4 | ) | | 17 | | | — | | | 9.6 | |
Cash and cash equivalents at end of period | | $ | — | | | $ | — | | | $ | 9.5 | | | $ | 14.6 | | | $ | — | | | $ | 24.1 | |
Cash and cash equivalents at beginning of period | | — | | | — | | | 9.5 | | | 10.7 | | | — | | | 20.2 | |
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| Cash and cash equivalents at end of period | | $ | — | | | $ | — | | | $ | 2.1 | | | $ | 27.7 | | | $ | — | | | $ | 29.8 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Year Ended December 31, 2012 |
| (in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
| Cash provided by operating activities | | $ | — | | | $ | — | | | $ | 277.3 | | | $ | 28.6 | | | $ | — | | | $ | 305.9 | |
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| Cash used in investing activities | | — | | | — | | | (42.5 | ) | | (5.6 | ) | | — | | | (48.1 | ) |
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| Financing activities: | | | | | | | | | | | | |
| Excess tax benefit from stock-based compensation | | — | | | — | | | 2.9 | | | — | | | — | | | 2.9 | |
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| Net cash distribution to CBS | | — | | | — | | | (238.2 | ) | | (41.5 | ) | | — | | | (279.7 | ) |
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| Other | | — | | | — | | | — | | | (0.2 | ) | | — | | | (0.2 | ) |
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| Cash used in financing activities | | — | | | — | | | (235.3 | ) | | (41.7 | ) | | — | | | (277.0 | ) |
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| Effect of exchange rate on cash and cash equivalents | | — | | | — | | | — | | | 1.8 | | | — | | | 1.8 | |
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| Net increase (decrease) in cash and cash equivalents | | — | | | — | | | (0.5 | ) | | (16.9 | ) | | — | | | (17.4 | ) |
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| Cash and cash equivalents at beginning of period | | — | | | — | | | 10 | | | 27.6 | | | — | | | 37.6 | |
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| Cash and cash equivalents at end of period | | $ | — | | | $ | — | | | $ | 9.5 | | | $ | 10.7 | | | $ | — | | | $ | 20.2 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | |
| | | Year Ended December 31, 2011 |
| (in millions) | | Parent Company | | Subsidiary Issuer | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
| Cash provided by operating activities | | $ | — | | | $ | — | | | $ | 284.3 | | | $ | 55.8 | | | $ | — | | | $ | 340.1 | |
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| Cash used in investing activities | | — | | | — | | | (43.4 | ) | | (7.3 | ) | | — | | | (50.7 | ) |
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| Financing activities: | | | | | | | | | | | | |
| Excess tax benefit from stock-based compensation | | — | | | — | | | 2.3 | | | — | | | — | | | 2.3 | |
|
| Net cash distribution to CBS | | — | | | — | | | (235.3 | ) | | (34.1 | ) | | — | | | (269.4 | ) |
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| Other | | — | | | — | | | — | | | (0.2 | ) | | — | | | (0.2 | ) |
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| Cash used in financing activities | | — | | | — | | | (233.0 | ) | | (34.3 | ) | | — | | | (267.3 | ) |
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| Effect of exchange rate on cash and cash equivalents | | — | | | — | | | — | | | (3.5 | ) | | — | | | (3.5 | ) |
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| Net increase (decrease) in cash and cash equivalents | | — | | | — | | | 7.9 | | | 10.7 | | | — | | | 18.6 | |
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| Cash and cash equivalents at beginning of period | | — | | | — | | | 2.1 | | | 16.9 | | | — | | | 19 | |
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| Cash and cash equivalents at end of period | | $ | — | | | $ | — | | | $ | 10 | | | $ | 27.6 | | | $ | — | | | $ | 37.6 | |
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