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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Advertising Revenues | | | | 1,096.7 | | | | |
| Non-Advertising Revenues | | | | 16.7 | | | | |
| Corporate and Other | | | | | | 2.4 | 3.3 | 3.9 |
| Radio Station Group | | | | | | 802.4 | 796.4 | 838.6 |
| Other | | | | | | 336.6 | 369.0 | 421.0 |
| Total revenues [+] | 953.5 | 916.5 | 816.2 | 1,113.4 | 0.0 | 1,141.4 | 1,168.7 | 1,263.4 |
| Services | | | | | | 1,141.4 | 1,168.7 | 1,263.4 |
| Revenue growth [+] | 4.0% | 12.3% | -26.7% | | -100.0% | -2.3% | -7.5% | 23.1% |
| Corporate and Other | | | | | | -28.1% | -13.7% | |
| Radio Station Group | | | | | | 0.8% | -5.0% | |
| Westwood One | | | | | | -8.8% | -12.4% | |
| Cost of goods sold [+] | 357.5 | 358.7 | 337.1 | 405.7 | 0.0 | 440.6 | 406.6 | 440.8 |
| Cost of licensing | | | | | | 12.8 | 10.1 | 7.2 |
| Maintenance and operations costs | | | | | | 427.8 | 396.4 | 433.6 |
| Gross profit | 596.0 | 557.8 | 479.1 | 707.8 | 0.0 | 700.8 | 762.1 | 822.6 |
| Gross margin | 62.5% | 60.9% | 58.7% | 63.6% | | 61.4% | 65.2% | 65.1% |
| Selling, general and administrative [+] | 445.8 | 451.7 | 416.9 | 519.2 | 1,346.1 | 513.0 | 550.7 | 546.9 |
| Sales and marketing | 383.4 | 376.8 | 367.7 | 461.2 | | 472.9 | 477.3 | 470.4 |
| General and administrative | 62.4 | 74.8 | 49.2 | 58.0 | | 40.1 | 73.4 | 76.4 |
| Other selling, general and administrative | 383.4 | 376.8 | 367.7 | 461.2 | | 472.9 | 477.3 | 470.4 |
| Equity in earnings | | | | | | | | |
| Other operating expenses | 0.0 | 1.1 | 7.3 | 3.5 | -1,214.1 | | 19.4 | |
| EBITDA [+] | 150.2 | 105.0 | 55.0 | 185.1 | -132.0 | 187.7 | 192.0 | 275.8 |
| EBITDA growth | 43.0% | 91.1% | -70.3% | | -170.3% | -2.2% | -30.4% | -8.3% |
| EBITDA margin | 15.8% | 11.5% | 6.7% | 16.6% | | 16.4% | 16.4% | 21.8% |
| Depreciation | 33.7 | 32.6 | 32.6 | 27.9 | 28.7 | 31.1 | 33.0 | 115.3 |
| EBITA | 116.5 | 72.5 | 22.4 | 157.2 | -160.7 | 156.7 | 159.0 | 160.5 |
| EBITA margin | 12.2% | 7.9% | 2.7% | 14.1% | | 13.7% | 13.6% | 12.7% |
| Amortization of intangibles | 22.7 | 21.0 | 19.7 | 24.7 | 33.5 | 56.2 | 69.1 | |
| EBIT [+] | 93.8 | 51.5 | 2.7 | 132.5 | -194.2 | 100.5 | 89.9 | 160.5 |
| EBIT growth | 82.1% | 1830.3% | -98.0% | | -293.3% | 11.7% | -44.0% | -12.6% |
| EBIT margin | 9.8% | 5.6% | 0.3% | 11.9% | | 8.8% | 7.7% | 12.7% |
| Non-recurring items [+] | 14.0 | -17.6 | 13.3 | -33.7 | 335.9 | 509.3 | 568.4 | -1.3 |
| Asset impairment | 15.5 | | 4.5 | 21.7 | 335.9 | 605.0 | 565.6 | |
| Loss (gain) on sale of assets | -1.5 | -17.6 | 8.8 | -55.4 | | -95.7 | 2.9 | -1.3 |
| Interest expense, net [+] | 64.9 | 67.8 | 68.1 | 82.9 | -0.1 | 138.1 | 141.2 | 144.1 |
| Interest expense | 64.9 | 67.8 | 68.1 | 82.9 | 127.0 | 138.6 | 141.7 | 145.5 |
| Interest income | | | | 0.0 | 0.1 | 0.5 | 0.4 | 1.4 |
| Other income (expense), net [+] | 4.7 | 19.0 | -0.3 | 0.2 | 286.7 | 10.1 | 27.4 | 4.3 |
| Reorganization items | | | | | -31.6 | | | |
| Impairment of investments | | | | | | | 19.4 | |
| Gain (loss) on debt retirement | 4.5 | 20.0 | | 0.4 | | 8.0 | 13.2 | |
| Other | 0.2 | -1.0 | -0.3 | -0.2 | | 2.0 | 14.2 | 4.3 |
| Pre-tax income | 19.6 | 20.3 | -79.0 | 83.5 | -370.3 | -536.9 | -592.3 | 22.0 |
| Income taxes | 3.4 | 3.0 | -19.2 | 22.3 | -163.7 | -26.2 | -45.8 | 10.3 |
| Tax rate | 17.2% | 14.7% | 24.4% | 26.7% | 44.2% | 4.9% | 7.7% | 46.6% |
| Net income | 16.2 | 17.3 | -59.7 | 61.3 | -206.6 | -510.7 | -546.5 | 11.8 |
| Net margin | 1.7% | 1.9% | -7.3% | 5.5% | | -44.7% | -46.8% | 0.9% |
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| Basic EPS [+] | $0.83 | $0.84 | ($2.94) | $3.04 | ($7.05) | ($17.45) | ($18.73) | $0.42 |
| Growth | -1.6% | -128.7% | -196.6% | | -59.6% | -6.8% | -4598.8% | 132.1% |
| Diluted EPS [+] | $0.81 | $0.83 | ($2.94) | $3.02 | ($7.05) | ($17.45) | ($18.73) | $0.41 |
| Growth | -1.8% | -128.1% | -197.3% | | -59.6% | -6.8% | -4654.9% | 133.3% |
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| Shares outstanding (basic) [+] | 19.6 | 20.5 | 20.3 | 20.1 | 29.3 | 29.3 | 29.2 | 28.3 |
| Growth | -4.5% | 0.8% | 0.9% | | 0.1% | 0.3% | 3.2% | -84.6% |
| Shares outstanding (diluted) [+] | 20.0 | 20.9 | 20.3 | 20.3 | 29.3 | 29.3 | 29.2 | 28.6 |
| Growth | -4.3% | 3.0% | 0.2% | | 0.1% | 0.3% | 1.9% | -84.7% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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