XML 333 R46.htm IDEA: XBRL DOCUMENT v2.4.1.9
Quarterly Financial Data (Tables)
12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information [Table Text Block]
The Company’s revenues and profits experience seasonality due to seasonal advertising patterns and influences on advertising markets. Typically, the Company’s revenues and profits are highest in the fourth quarter, during the holiday shopping season, and lowest in the first quarter, as advertisers cut back on spending following the holiday shopping season.
2013
First
Quarter
 
 
Second
Quarter
 
 
Third
Quarter
 
 
Fourth
Quarter
 
 
Total
Year
 
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
$
245.2

 
 
$
285.9

 
 
$
296.5

 
 
$
302.5

 
 
$
1,130.1

 
International
34.0

 
 
46.8

 
 
41.7

 
 
41.4

 
 
163.9

 
Total revenues
$
279.2

 
 
$
332.7

 
 
$
338.2

 
 
$
343.9

 
 
$
1,294.0

 
Adjusted OIBDA:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
$
80.1

 
 
$
106.5

 
 
$
113.6

 
 
$
106.2

 
 
$
406.4

 
International
0.6

 
 
11.5

 
 
7.9

 
 
9.1

 
 
29.1

 
Corporate
(5.3
)
 
 
(4.9
)
 
 
(5.4
)
 
 
(5.1
)
 
 
(20.7
)
 
Total Adjusted OIBDA
75.4

 
 
113.1

 
 
116.1

 
 
110.2

 
 
414.8

 
Net gain (loss) on dispositions
9.8

(a) 
 
(0.1
)
 
 
0.1

 
 
17.5

(b) 
 
27.3

 
Depreciation
(26.0
)
 
 
(25.9
)
 
 
(26.4
)
 
 
(26.2
)
 
 
(104.5
)
 
Amortization
(22.9
)
 
 
(22.7
)
 
 
(22.6
)
 
 
(23.1
)
 
 
(91.3
)
 
Stock-based compensation
(1.6
)
 
 
(1.6
)
 
 
(2.6
)
 
 
(1.7
)
 
 
(7.5
)
 
Total operating income
$
34.7

 
 
$
62.8

 
 
$
64.6

 
 
$
76.7

 
 
$
238.8

 
Operating income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States
$
48.2

 
 
$
65.2

 
 
$
72.0

 
 
$
81.7

 
 
$
267.1

 
International
(6.6
)
 
 
4.1

 
 
0.6

 
 
1.8

 
 
(0.1
)
 
Corporate
(6.9
)
 
 
(6.5
)
 
 
(8.0
)
 
 
(6.8
)
 
 
(28.2
)
 
Total operating income
$
34.7

 
 
$
62.8

 
 
$
64.6

 
 
$
76.7

 
 
$
238.8

 
Net income
$
19.9

 
 
$
36.4

 
 
$
37.2

 
 
$
50.0

 
 
$
143.5

 
(a)
During the first quarter of 2013, the Company exchanged most of its billboards in Salt Lake City for billboards in New Jersey resulting in a gain of $9.8 million.
(b)
During the fourth quarter of 2013, the Company sold 50% of its transit shelter operations in Los Angeles, and the Company and the buyer each subsequently contributed their respective 50% interests in these operations to a 50/50 joint venture they own together. This transaction resulted in a gain of $17.5 million.

2012
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
 
Total
Year
Revenues:
 
 
 
 
 
 
 
 
 
United States
$
244.6

 
$
281.7

 
$
284.9

 
$
287.4

 
$
1,098.6

International
41.3

 
49.7

 
46.6

 
48.4

 
186.0

Total revenues
$
285.9

 
$
331.4

 
$
331.5

 
$
335.8

 
$
1,284.6

Adjusted OIBDA:
 
 
 
 
 
 
 
 
 
United States
$
76.7

 
$
101.9

 
$
108.1

 
$
98.7

 
$
385.4

International
5.9

 
13.3

 
11.0

 
0.3

 
30.5

Corporate
(1.7
)
 
(1.6
)
 
(2.0
)
 
(2.2
)
 
(7.5
)
Total Adjusted OIBDA
80.9

 
113.6

 
117.1

 
96.8

 
408.4

Restructuring charges

 
(0.5
)
 
(1.9
)
 
(0.1
)
 
(2.5
)
Net loss on dispositions
(0.8
)
 
(0.7
)
 
(0.3
)
 
(0.4
)
 
(2.2
)
Depreciation
(26.5
)
 
(26.8
)
 
(26.7
)
 
(25.9
)
 
(105.9
)
Amortization
(22.1
)
 
(22.8
)
 
(23.0
)
 
(23.0
)
 
(90.9
)
Stock-based compensation
(1.3
)
 
(1.5
)
 
(1.5
)
 
(1.4
)
 
(5.7
)
Total operating income
$
30.2

 
$
61.3

 
$
63.7

 
$
46.0

 
$
201.2

Operating income (loss):
 
 
 
 
 
 
 
 
 
United States
$
35.1

 
$
59.3

 
$
64.5

 
$
57.5

 
$
216.4

International
(1.9
)
 
5.1

 
2.7

 
(7.9
)
 
(2.0
)
Corporate
(3.0
)
 
(3.1
)
 
(3.5
)
 
(3.6
)
 
(13.2
)
Total operating income
$
30.2

 
$
61.3

 
$
63.7

 
$
46.0

 
$
201.2

Net income
$
18.7

 
$
37.2

 
$
38.7

 
$
18.8

 
$
113.4