10-Q Filing

OUTFRONT MEDIA INC. CIK: 1579877 Q1 2014

Filing Information

Form Type	10-Q
Accession Number	`0001579877-14-000090`
Period End Date	20140331
Filing Date	20140508
Fiscal Year	2014
Fiscal Period	Q1
XBRL Instance	cbso-20140331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 40 Cash Flow Statement 58 Stockholders Equity 21 Comprehensive Income 10

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.00M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.70M	USD	Point-in-time
Common Stock, Authorized	`CommonStockSharesAuthorized`	450.00M	shares	Point-in-time
Common Stock, Authorized	`CommonStockSharesAuthorized`	0.00	shares	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	0.00	shares	Point-in-time
Common Stock, Issued	`CommonStockSharesIssued`	97.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$29.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$113.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.20M	USD	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	97.00M	shares	Point-in-time
Receivables, less allowance ($15.0 in 2014 and $15.7 in 2013)	`AccountsReceivableNetCurrent`	$178.80M	USD	Point-in-time
Receivables, less allowance ($15.0 in 2014 and $15.7 in 2013)	`AccountsReceivableNetCurrent`	$155.20M	USD	Point-in-time
Common Stock, Outstanding	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Deferred income tax assets, net	`DeferredTaxAssetsLiabilitiesNetCurrent`	$24.50M	USD	Point-in-time
Deferred income tax assets, net	`DeferredTaxAssetsLiabilitiesNetCurrent`	$24.60M	USD	Point-in-time
Prepaid lease and transit franchise costs	`PrepaidLeaseandTransitFranchiseCosts`	$62.70M	USD	Point-in-time
Prepaid lease and transit franchise costs	`PrepaidLeaseandTransitFranchiseCosts`	$113.00M	USD	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$15.50M	USD	Point-in-time
Other prepaid expenses	`OtherPrepaidExpenseCurrent`	$19.60M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$317.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$437.80M	USD	Point-in-time
Property and equipment, net (Note 4)	`PropertyPlantAndEquipmentNet`	$733.60M	USD	Point-in-time
Property and equipment, net (Note 4)	`PropertyPlantAndEquipmentNet`	$755.40M	USD	Point-in-time
Goodwill	`Goodwill`	$1.87B	USD	Point-in-time
Goodwill	`Goodwill`	$1.86B	USD	Point-in-time
Intangible assets (Note 5)	`IntangibleAssetsNetExcludingGoodwill`	$349.50M	USD	Point-in-time
Intangible assets (Note 5)	`IntangibleAssetsNetExcludingGoodwill`	$364.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$52.80M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$74.30M	USD	Point-in-time
Total assets	`Assets`	$3.46B	USD	Point-in-time
Total assets	`Assets`	$3.36B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$80.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$59.20M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$13.20M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$28.20M	USD	Point-in-time
Accrued lease costs	`AccruedRentCurrent`	$17.70M	USD	Point-in-time
Accrued lease costs	`AccruedRentCurrent`	$14.10M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$37.80M	USD	Point-in-time
Other accrued expenses	`OtherAccruedLiabilitiesCurrent`	$49.60M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$30.00M	USD	Point-in-time
Deferred revenues	`DeferredRevenueCurrent`	$22.90M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$31.50M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$25.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$197.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$212.20M	USD	Point-in-time
Long-term debt (Note 8)	`LongTermDebtNoncurrent`	$1.60B	USD	Point-in-time
Long-term debt (Note 8)	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$288.50M	USD	Point-in-time
Deferred income tax liabilities, net	`DeferredTaxLiabilitiesNoncurrent`	$279.50M	USD	Point-in-time
Asset retirement obligation (Note 6)	`AssetRetirementObligationsNoncurrent`	$31.90M	USD	Point-in-time
Asset retirement obligation (Note 6)	`AssetRetirementObligationsNoncurrent`	$31.70M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$65.90M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$68.70M	USD	Point-in-time
Total liabilities	`Liabilities`	$601.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.17B	USD	Point-in-time
Commitments and Contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 14)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common Stock (2014 - 450 shares authorized, and 97 shares issued and outstanding; 2013 - no shares authorized, issued, or outstanding)	`CommonStockValue`	$1.00M	USD	Point-in-time
Common Stock (2014 - 450 shares authorized, and 97 shares issued and outstanding; 2013 - no shares authorized, issued, or outstanding)	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.35B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$7.30M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	-	USD	Point-in-time
Invested capital	`InvestedCapital`	$2.83B	USD	Point-in-time
Invested capital	`InvestedCapital`	-	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-66.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-68.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-73.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-75.10M	USD	Point-in-time
Total stockholders equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.29B	USD	Point-in-time
Total invested equity	`InvestedEquity`	$2.75B	USD	Point-in-time
Total invested equity	`InvestedEquity`	$2.86B	USD	Point-in-time
Total invested equity	`InvestedEquity`	$2.84B	USD	Point-in-time
Total liabilities and stockholders equity/invested equity	`LiabilitiesAndStockholdersEquity`	$3.36B	USD	Point-in-time
Total liabilities and stockholders equity/invested equity	`LiabilitiesAndStockholdersEquity`	$3.46B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Billboard	`BillboardRevenue`	$207.70M	USD	1 Quarter
Billboard	`BillboardRevenue`	$205.30M	USD	1 Quarter
Transit and other	`TransitandOtherRevenue`	$73.90M	USD	1 Quarter
Transit and other	`TransitandOtherRevenue`	$80.20M	USD	1 Quarter
Total revenues	`Revenues`	$279.20M	USD	1 Quarter
Total revenues	`Revenues`	$287.90M	USD	1 Quarter
Operating	`DirectOperatingCosts`	$163.50M	USD	1 Quarter
Operating	`DirectOperatingCosts`	$162.20M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$43.20M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$50.60M	USD	1 Quarter
Net gain on dispositions	`GainLossOnDispositionOfAssets1`	$900.00K	USD	1 Quarter
Net gain on dispositions	`GainLossOnDispositionOfAssets1`	$9.80M	USD	1 Quarter
Depreciation	`Depreciation`	$26.00M	USD	1 Quarter
Depreciation	`Depreciation`	$26.10M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$21.90M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$22.90M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$261.20M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$244.50M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$34.70M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$26.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$12.50M	USD	1 Quarter
Interest expense	`InterestExpense`	$100.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-500.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-100.00K	USD	1 Quarter
Income before provision for income taxes and equity in earnings of investee companies	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.70M	USD	1 Quarter
Income before provision for income taxes and equity in earnings of investee companies	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$34.50M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$14.90M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$5.90M	USD	1 Quarter
Equity in earnings of investee companies, net of tax	`IncomeLossFromEquityMethodInvestments`	$300.00K	USD	1 Quarter
Equity in earnings of investee companies, net of tax	`IncomeLossFromEquityMethodInvestments`	$600.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.90M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.21	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.21	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	97.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	97.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.00M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	97.00M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$48.00M	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-6.80M	USD	1 Quarter
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-3.70M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.80M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$1.60M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$-1.10M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$700.00K	USD	1 Quarter
Net gain on dispositions	`GainLossOnDispositionOfAssets1`	$900.00K	USD	1 Quarter
Net gain on dispositions	`GainLossOnDispositionOfAssets1`	$9.80M	USD	1 Quarter
Equity in earnings of investee companies, net of tax	`IncomeLossFromEquityMethodInvestments`	$300.00K	USD	1 Quarter
Equity in earnings of investee companies, net of tax	`IncomeLossFromEquityMethodInvestments`	$600.00K	USD	1 Quarter
Distributions from investee companies	`EquityMethodInvestmentDividendsOrDistributions`	$1.00M	USD	1 Quarter
Distributions from investee companies	`EquityMethodInvestmentDividendsOrDistributions`	$3.00M	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	-	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$700.00K	USD	1 Quarter
Change in assets and liabilities, net of investing and financing activities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$54.00M	USD	1 Quarter
Change in assets and liabilities, net of investing and financing activities	`IncreaseDecreaseInOtherOperatingCapitalNet`	$46.70M	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$9.80M	USD	1 Quarter
Net Cash Provided by (Used in) Operating Activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$300.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.20M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.00M	USD	1 Quarter
Acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	1 Quarter
Acquisitions	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$7.80M	USD	1 Quarter
Proceeds from dispositions	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$500.00K	USD	1 Quarter
Proceeds from dispositions	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$10.90M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-7.70M	USD	1 Quarter
Net Cash Provided by (Used in) Investing Activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.90M	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	1 Quarter
Proceeds from long-term debt borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$1.60B	USD	1 Quarter
Deferred financing fees	`PaymentsOfFinancingCosts`	$24.30M	USD	1 Quarter
Deferred financing fees	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	-	USD	1 Quarter
Excess tax benefit from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$3.60M	USD	1 Quarter
Distribution of net debt proceeds to CBS	`PaymentsOfCapitalDistribution`	$1.52B	USD	1 Quarter
Distribution of net debt proceeds to CBS	`PaymentsOfCapitalDistribution`	-	USD	1 Quarter
Net cash contribution from (distribution to) CBS	`Netcashcontributiondistributiontoparent`	$-8.40M	USD	1 Quarter
Net cash contribution from (distribution to) CBS	`Netcashcontributiondistributiontoparent`	$42.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-100.00K	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$92.00M	USD	1 Quarter
Net Cash Provided by (Used in) Financing Activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-4.80M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$300.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-500.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.40M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$84.10M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$29.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$113.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$22.60M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.20M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$29.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$113.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.20M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$4.80M	USD	1 Quarter
Cash paid for income taxes	`IncomeTaxesPaidNet`	$1.40M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Distribution of debt proceeds to CBS per share	`CapitalDistributionPerShare`	$15.71	USD	1 Quarter
Invested Equity, Beginning Balance	`InvestedEquity`	$2.75B	USD	Point-in-time
Invested Equity, Beginning Balance	`InvestedEquity`	$2.86B	USD	Point-in-time
Invested Equity, Beginning Balance	`InvestedEquity`	$2.84B	USD	Point-in-time
Shares of Common Stock	`CommonStockSharesOutstanding`	97.00M	shares	Point-in-time
Shares of Common Stock	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Net income	`NetIncomeLoss`	$8.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.90M	USD	1 Quarter
Net contribution from (distribution to) CBS	`NetDistributionContributiontoParent`	$-2.50M	USD	1 Quarter
Net contribution from (distribution to) CBS	`NetDistributionContributiontoParent`	$44.50M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.10M	USD	1 Quarter
Conversion to equity	`ConversiontoEquity`	-	USD	1 Quarter
Distribution of debt proceeds to CBS	`CapitalDistributionPayment`	$1.52B	USD	1 Quarter
Shares of Common Stock	`CommonStockSharesOutstanding`	97.00M	shares	Point-in-time
Shares of Common Stock	`CommonStockSharesOutstanding`	0.00	shares	Point-in-time
Stockholders' Equity, Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.29B	USD	Point-in-time
Invested Equity, Ending Balance	`InvestedEquity`	$2.75B	USD	Point-in-time
Invested Equity, Ending Balance	`InvestedEquity`	$2.86B	USD	Point-in-time
Invested Equity, Ending Balance	`InvestedEquity`	$2.84B	USD	Point-in-time

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$8.40M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.90M	USD	1 Quarter
Cumulative translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.30M	USD	1 Quarter
Cumulative translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.80M	USD	1 Quarter
Amortization of net actuarial loss	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Amortization of net actuarial loss	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$2.00M	USD	1 Quarter
Total other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.10M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$17.80M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$10.40M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.