2024 Q4 Form 10-Q Financial Statement

#000157987724000091 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $451.9M
YoY Change -0.64%
Cost Of Revenue $113.8M
YoY Change -2.32%
Gross Profit $338.1M
YoY Change -0.06%
Gross Profit Margin 74.82%
Selling, General & Admin $108.7M
YoY Change 3.23%
% of Gross Profit 32.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $18.60M
YoY Change -3.63%
% of Gross Profit 5.5%
Operating Expenses $108.7M
YoY Change 3.23%
Operating Profit $71.30M
YoY Change 21.67%
Interest Expense -$37.10M
YoY Change -7.71%
% of Operating Profit -52.03%
Other Income/Expense, Net -$100.0K
YoY Change 0.0%
Pretax Income $34.10M
YoY Change 86.34%
Income Tax -$200.0K
% Of Pretax Income -0.59%
Net Earnings $34.60M
YoY Change 103.53%
Net Earnings / Revenue 7.66%
Basic Earnings Per Share $0.20
Diluted Earnings Per Share $0.19
COMMON SHARES
Basic Shares Outstanding 166.0M shares 166.0M shares
Diluted Shares Outstanding 167.2M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $28.00M
YoY Change -36.94%
Cash & Equivalents $28.00M
Short-Term Investments
Other Short-Term Assets $12.80M
YoY Change 39.13%
Inventory
Prepaid Expenses
Receivables $281.2M
Other Receivables $0.00
Total Short-Term Assets $343.9M
YoY Change -9.74%
LONG-TERM ASSETS
Property, Plant & Equipment $654.1M
YoY Change -5.74%
Goodwill $2.006B
YoY Change -1.11%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.50M
YoY Change -39.44%
Total Long-Term Assets $4.860B
YoY Change -6.07%
TOTAL ASSETS
Total Short-Term Assets $343.9M
Total Long-Term Assets $4.860B
Total Assets $5.204B
YoY Change -6.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.80M
YoY Change -14.57%
Accrued Expenses $380.1M
YoY Change -2.86%
Deferred Revenue
YoY Change
Short-Term Debt $40.00M
YoY Change -73.33%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $527.2M
YoY Change -19.76%
LONG-TERM LIABILITIES
Long-Term Debt $2.481B
YoY Change -5.65%
Other Long-Term Liabilities $43.90M
YoY Change 5.78%
Total Long-Term Liabilities $2.525B
YoY Change -5.47%
TOTAL LIABILITIES
Total Short-Term Liabilities $527.2M
Total Long-Term Liabilities $2.525B
Total Liabilities $4.451B
YoY Change -8.07%
SHAREHOLDERS EQUITY
Retained Earnings -$1.793B
YoY Change -1.99%
Common Stock $1.700M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $618.2M
YoY Change
Total Liabilities & Shareholders Equity $5.204B
YoY Change -6.32%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $34.60M
YoY Change 103.53%
Depreciation, Depletion And Amortization $18.60M
YoY Change -3.63%
Cash From Operating Activities $73.10M
YoY Change 18.86%
INVESTING ACTIVITIES
Capital Expenditures $21.20M
YoY Change -3.64%
Acquisitions
YoY Change
Other Investing Activities -$7.600M
YoY Change -7700.0%
Cash From Investing Activities -$28.80M
YoY Change 31.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -65.90M
YoY Change 77.15%
NET CHANGE
Cash From Operating Activities 73.10M
Cash From Investing Activities -28.80M
Cash From Financing Activities -65.90M
Net Change In Cash -21.60M
YoY Change -1000.0%
FREE CASH FLOW
Cash From Operating Activities $73.10M
Capital Expenditures $21.20M
Free Cash Flow $51.90M
YoY Change 31.39%

Facts In Submission

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us-gaap Defined Benefit Plan Net Periodic Benefit Cost Credit Expected Return Loss Statement Of Income Or Comprehensive Income Extensible List
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Comprehensive Income Net Of Tax
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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0.01
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Minority Interest Decrease From Redemptions
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Depreciation And Amortization
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Deferred Income Tax Expense Benefit
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Provision For Doubtful Accounts
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us-gaap Accretion Expense Including Asset Retirement Obligations
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Gains Losses On Extinguishment Of Debt
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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us-gaap Equity Method Investment Dividends Or Distributions
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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us-gaap Increase Decrease In Receivables
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Deferred Revenue
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Accrued Income Taxes Payable
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us-gaap Increase Decrease In Assets Held For Sale
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us-gaap Increase Decrease In Assets Held For Sale
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us-gaap Increase Decrease In Other Operating Capital Net
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Lines Of Credit
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us-gaap Payments Of Financing Costs
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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us-gaap Payments Of Dividends
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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28000000.0 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44400000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
11400000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
5900000 usd
us-gaap Interest Paid Net
InterestPaidNet
127100000 usd
us-gaap Interest Paid Net
InterestPaidNet
126300000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7200000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4600000 usd
out Mta Franchise Rights Not Yet Paid
MTAFranchiseRightsNotYetPaid
2100000 usd
out Mta Franchise Rights Not Yet Paid
MTAFranchiseRightsNotYetPaid
2900000 usd
out Taxes Withheld For Stock Based Compensation
TaxesWithheldForStockBasedCompensation
300000 usd
out Taxes Withheld For Stock Based Compensation
TaxesWithheldForStockBasedCompensation
100000 usd
out Numberof Largest Marketsin Whichthe Entity Operates Domestic
NumberofLargestMarketsinWhichtheEntityOperatesDomestic
25 markets
out Numberof Marketsin Whichthe Entity Operates
NumberofMarketsinWhichtheEntityOperates
120 markets
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, 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.</span></div>
CY2023Q1 us-gaap Immaterial Error Correction
ImmaterialErrorCorrection
Revision of Previously Issued Financial InformationIn the third quarter of 2024, we identified an error related to the accounting for noncontrolling interests in our consolidated joint ventures, which include buy/sell clauses. The error related to the appropriate classification of these noncontrolling interests as redeemable and recognition of these redeemable noncontrolling interests at the maximum redemption value for each period. The Company assessed the materiality of the error on its previously issued financial statements in accordance with the SEC’s Staff Accounting Bulletin (“SAB”) No. 99 and SAB No. 108 and concluded that the amount was not material, individually or in the aggregate, to any of its previously issued financial statements, but would have been material to certain of our financial statements in the current period. Accordingly, we have revised our previously issued financial information. All relevant prior period amounts affected by these revisions have been corrected in the applicable Notes to the Consolidated Financial Statements, as appropriate. Any prior periods not presented herein may be revised in future filings to the extent necessary. (See Note 19. Revised Consolidated Financial Information.)As previously disclosed, for the three months ended March 31, 2023, the Company recorded an out-of-period adjustment relating to variable billboard property lease costs and accrued lease and franchise costs in 2022, resulting in a $5.2 million increase in operating expenses for the three months ended March 31, 2023. The Company assessed the materiality of the amount reflected in this adjustment on its previously issued financial statements in accordance with the SEC’s SAB No. 99 and SAB No. 108 and concluded that the amount was not material, individually or in the aggregate, to any of its previously issued financial statements. In the third quarter of 2024, we voluntarily revised our previously issued financial information to reflect the out-of-period adjustment amount. Prior periods not presented herein will be voluntarily revised, as applicable, in future filings. (See Note 19. Revised Consolidated Financial Information.)The impact of the revisions have been reflected throughout the Consolidated Financial Statements, including the applicable Notes to the Consolidated Financial Statements, as appropriate.
CY2023Q1 us-gaap Direct Operating Costs
DirectOperatingCosts
5200000 usd
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2122300000 usd
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1468200000 usd
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
654100000 usd
CY2024Q3 us-gaap Depreciation
Depreciation
18600000 usd
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2521500000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2489800000 usd
CY2023Q4 out Finite Lived Intangible Assets Accumulated Impairment
FiniteLivedIntangibleAssetsAccumulatedImpairment
467900000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
695400000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
63000000.0 usd
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
523500000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1522300000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1591900000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
177000000.0 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
180900000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1364300000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1417400000 usd
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y10M24D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.065
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.062
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
31600000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
32900000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
90500000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
98300000 usd
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
108600000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
107100000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
364600000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
358000000.0 usd
CY2024Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
40800000 usd
CY2023Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
49300000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
146400000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
305300000 usd
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
338400000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
340800000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
988300000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
988500000 usd
us-gaap Asset Retirement Obligations Description
AssetRetirementObligationsDescription
The obligation is calculated based on the assumption that all of our advertising structures will be removed within the next 50 years.
out Asset Retirement Obligation Expected Term
AssetRetirementObligationExpectedTerm
P50Y
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
33000000.0 usd
us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
2200000 usd
us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
200000 usd
us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
1600000 usd
us-gaap Asset Retirement Obligation Foreign Currency Translation Gain Loss
AssetRetirementObligationForeignCurrencyTranslationGainLoss
-100000 usd
CY2024Q3 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
33700000 usd
CY2024Q3 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
1000000.0 usd
CY2023Q3 us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
1000000.0 usd
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
3200000 usd
us-gaap Property Management Fee Revenue
PropertyManagementFeeRevenue
3400000 usd
CY2024Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
40000000.0 usd
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
65000000.0 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2481400000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
2676500000 usd
CY2024Q3 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
2521400000 usd
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
2741500000 usd
CY2024Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.055
CY2023Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.057
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1200000 usd
out Debt Covenant Maximum Consolidated Total Leverage Ratio
DebtCovenantMaximumConsolidatedTotalLeverageRatio
6.0
out Consolidated Total Leverage Ratio
ConsolidatedTotalLeverageRatio
4.9
us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
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.
CY2024Q3 out Debt Covenant Restricted Cash Limit
DebtCovenantRestrictedCashLimit
150000000 usd
CY2024Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
22400000 usd
CY2024Q3 out Us Gaap Minority Interest Purchase Price
UsGaap_MinorityInterestPurchasePrice
24600000 usd
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
450000000 shares
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
165981974 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
165981974 shares
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
125000 shares
CY2024Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
125000 shares
CY2024Q3 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.01
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.070
out Dividend Period
DividendPeriod
P12M
out Dividend Period
DividendPeriod
P12M
us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
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.
CY2024Q3 us-gaap Preferred Stock Convertible Conversion Price
PreferredStockConvertibleConversionPrice
16.00
CY2024Q3 out Convertible Preferred Stock Common Shares Issuable
ConvertiblePreferredStockCommonSharesIssuable
62.50 shares
CY2024Q3 out Billboard Revenue
BillboardRevenue
360600000 usd
CY2023Q3 out Billboard Revenue
BillboardRevenue
363600000 usd
out Billboard Revenue
BillboardRevenue
1062800000 usd
out Billboard Revenue
BillboardRevenue
1055800000 usd
CY2024Q3 out Transitand Other Revenue
TransitandOtherRevenue
91300000 usd
CY2023Q3 out Transitand Other Revenue
TransitandOtherRevenue
91200000 usd
out Transitand Other Revenue
TransitandOtherRevenue
274900000 usd
out Transitand Other Revenue
TransitandOtherRevenue
263600000 usd
CY2024Q3 us-gaap Revenues
Revenues
451900000 usd
CY2023Q3 us-gaap Revenues
Revenues
454800000 usd
us-gaap Revenues
Revenues
1337700000 usd
us-gaap Revenues
Revenues
1319400000 usd
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
338400000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
340800000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
988300000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
988500000 usd
CY2024Q3 us-gaap Revenues
Revenues
451900000 usd
CY2023Q3 us-gaap Revenues
Revenues
454800000 usd
us-gaap Revenues
Revenues
1337700000 usd
us-gaap Revenues
Revenues
1319400000 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
11200000 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
30700000 usd
CY2024Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
32200000 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
34600000 usd
CY2024Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
247000000.0 usd
CY2023Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
248900000 usd
CY2024Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
24700000 usd
CY2023Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
24100000 usd
CY2024Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
112700000 usd
CY2023Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
115000000.0 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
100000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
200000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
700000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
700000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
6900000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
7000000.0 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
21100000 usd
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
22200000 usd
CY2024Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
100000 usd
CY2023Q3 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
600000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
600000 usd
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1700000 usd
CY2024Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
100000 usd
CY2023Q3 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
700000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
700000 usd
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2100000 usd
CY2024Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
0 usd
CY2023Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-100000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-100000 usd
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-400000 usd
us-gaap Pension Contributions
PensionContributions
200000 usd
CY2024Q3 us-gaap Defined Benefit Plan Expected Future Employer Contributions Remainder Of Fiscal Year
DefinedBenefitPlanExpectedFutureEmployerContributionsRemainderOfFiscalYear
0 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
34600000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
17000000.0 usd
us-gaap Net Income Loss Attributable To Parent Diluted
NetIncomeLossAttributableToParentDiluted
184200000 usd
us-gaap Net Income Loss
NetIncomeLoss
-485600000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
32400000 usd
CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
32400000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14800000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14800000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
177600000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-492200000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-492200000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
166000000.0 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165000000.0 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
165800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
164900000 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1200000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2024Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
7800000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Preferred Stock
IncrementalCommonSharesAttributableToConversionOfPreferredStock
0 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
167200000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
165200000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174400000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
164900000 shares
out Equipment Deployment Costs Percentage
EquipmentDeploymentCostsPercentage
0.30
us-gaap Recovery Of Direct Costs
RecoveryOfDirectCosts
0 usd
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023Q4 out Mta Equipment Deployment Costs
MTAEquipmentDeploymentCosts
1100000 usd
out Mta Equipment Development Cost Additions
MTAEquipmentDevelopmentCostAdditions
24500000 usd
CY2024Q3 out Mta Equipment Deployment Costs
MTAEquipmentDeploymentCosts
7500000 usd
CY2022Q4 out Prepaid Mta Equipment Deployment Costs
PrepaidMTAEquipmentDeploymentCosts
363200000 usd
CY2023Q4 out Prepaid Mta Equipment Deployment Costs
PrepaidMTAEquipmentDeploymentCosts
0 usd
CY2022Q4 out Mta Equipment Deployment Costs
MTAEquipmentDeploymentCosts
426800000 usd
CY2023 out Mta Equipment Development Cost Additions
MTAEquipmentDevelopmentCostAdditions
43700000 usd
CY2023 out Total Recoupment And Mta Funding
TotalRecoupmentAndMTAFunding
100000 usd
CY2023Q4 out Mta Equipment Deployment Costs
MTAEquipmentDeploymentCosts
1100000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q3 us-gaap Revenues
Revenues
451900000 usd
CY2023Q3 us-gaap Revenues
Revenues
454800000 usd
us-gaap Revenues
Revenues
1337700000 usd
us-gaap Revenues
Revenues
1319400000 usd
CY2024Q3 us-gaap Profit Loss
ProfitLoss
34800000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
16700000 usd
us-gaap Profit Loss
ProfitLoss
184700000 usd
us-gaap Profit Loss
ProfitLoss
-485200000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-200000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2200000 usd
CY2024Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
500000 usd
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-200000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
500000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1300000 usd
CY2024Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-37100000 usd
CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-40200000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-119600000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-117600000 usd
CY2024Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2023Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1200000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-100000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-100000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000000.0 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
100000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
71300000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
58600000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
314400000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-364200000 usd
CY2024Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-1500000 usd
CY2023Q3 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
153600000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-200000 usd
CY2024Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
12100000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
17900000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
523500000 usd
CY2024Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
37300000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
39000000.0 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
109100000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
122100000 usd
CY2024Q3 out Share Based Compensation Excluding Compensation Related Restructuring Charges
ShareBasedCompensationExcludingCompensationRelatedRestructuringCharges
7000000.0 usd
CY2023Q3 out Share Based Compensation Excluding Compensation Related Restructuring Charges
ShareBasedCompensationExcludingCompensationRelatedRestructuringCharges
7200000 usd
out Share Based Compensation Excluding Compensation Related Restructuring Charges
ShareBasedCompensationExcludingCompensationRelatedRestructuringCharges
21800000 usd
out Share Based Compensation Excluding Compensation Related Restructuring Charges
ShareBasedCompensationExcludingCompensationRelatedRestructuringCharges
22900000 usd
CY2024Q3 out Segment Operating Measure
SegmentOperatingMeasure
117100000 usd
CY2023Q3 out Segment Operating Measure
SegmentOperatingMeasure
116900000 usd
out Segment Operating Measure
SegmentOperatingMeasure
309600000 usd
out Segment Operating Measure
SegmentOperatingMeasure
304500000 usd
CY2024Q3 out Segment Operating Measure
SegmentOperatingMeasure
117100000 usd
CY2023Q3 out Segment Operating Measure
SegmentOperatingMeasure
116900000 usd
out Segment Operating Measure
SegmentOperatingMeasure
309600000 usd
out Segment Operating Measure
SegmentOperatingMeasure
304500000 usd
CY2024Q3 us-gaap Assets
Assets
5203600000 usd
CY2023Q4 us-gaap Assets
Assets
5582900000 usd
CY2024Q3 us-gaap Noncurrent Assets
NoncurrentAssets
4850200000 usd
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
5176900000 usd
CY2023Q1 us-gaap Direct Operating Costs
DirectOperatingCosts
5200000 usd
CY2024Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2024Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
CY2024Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2024Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2023 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.20
CY2023 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.20
CY2023Q3 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2023Q3 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.90
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.90
CY2023Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2023Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.60
CY2023Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2023Q1 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.30
CY2022 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.20
CY2022 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.07
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.20
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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