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2313301 - Disclosure - STOCKHOLDERS' EQUITY (DEFICIT) (Tables)
(http://www.clearchanneloutdoor.com/role/StockholdersEquityDeficitTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001334978 (http://www.sec.gov/CIK)
Equity [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Equity [Abstract]
 
Schedule of Changes in Stockholders' Equity
The following table shows the changes in stockholders’ equity attributable to the Company and the noncontrolling interests of subsidiaries in which the Company has a majority, but not total, ownership interest:
(In thousands)
The Company
 
Noncontrolling
Interests
 
Consolidated
Balances as of January 1, 2016
$
(757,442
)
 
$
187,775

 
$
(569,667
)
Net income
141,431

 
23,002

 
164,433

Dividends declared
(540,034
)
 
—

 
(540,034
)
Dividends and other payments to noncontrolling interests
—

 
(16,917
)
 
(16,917
)
Disposal of noncontrolling interests
—

 
(36,846
)
 
(36,846
)
Share-based compensation
10,238

 
—

 
10,238

Foreign currency translation adjustments
30,835

 
(8,427
)
 
22,408

Unrealized holding loss on marketable securities
(576
)
 
—

 
(576
)
Other adjustments to comprehensive loss
(11,814
)
 
—

 
(11,814
)
Reclassifications
46,730

 
—

 
46,730

Other, net
(2,042
)
 
1,299

 
(743
)
Balances as of December 31, 2016
$
(1,082,674
)
 
$
149,886

 
$
(932,788
)
 
 
 
 
 
 
Balance as of January 1, 2015
$
(344,275
)
 
$
203,334

 
$
(140,941
)
Net income (loss)
(96,072
)
 
24,764

 
(71,308
)
Dividends declared
(217,796
)
 
—

 
(217,796
)
Dividends and other payments to noncontrolling interests
—

 
(30,870
)
 
(30,870
)
Share-based compensation
8,359

 
—

 
8,359

Foreign currency translation adjustments
(101,575
)
 
(11,154
)
 
(112,729
)
Unrealized holding gain on marketable securities
553

 
—

 
553

Other adjustments to comprehensive loss
(10,266
)
 
—

 
(10,266
)
Reclassifications
808

 
—

 
808

Other, net
2,822

 
1,701

 
4,523

Balances as of December 31, 2015
$
(757,442
)
 
$
187,775

 
$
(569,667
)
  
Schedule Assumptions Used to Calculate Fair Value of Options
The following assumptions were used to calculate the fair value of the Company’s options on the date of grant:
 
Years Ended December 31,
 
2016
 
2015
 
2014
Expected volatility
42% - 44%
 
37% – 56%
 
54% – 56%
Expected life in years
6.3
 
6.3
 
6.3
Risk-free interest rate
1.12% - 1.41%
 
1.70% – 2.07%
 
1.73% – 2.08%
Dividend yield
—%
 
—%
 
—%
  
Summary of Stock Options Outstanding and Stock Option Activity
The following table presents a summary of the Company's stock options outstanding at and stock option activity during the year ended December 31, 2016:
(In thousands, except per share data)
Options
 
Price(3)
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value
Outstanding, January 1, 2016
5,348

 
$
7.86

 
 
 
 
Granted (1)
290

 
6.43

 
 
 
 
Exercised (2)
(173
)
 
3.66

 
 
 
 
Forfeited
(159
)
 
7.25

 
 
 
 
Expired
(273
)
 
12.15

 
 
 
 
Outstanding, December 31, 2016
5,033

 
7.71

 
4.9 years
 
$
2,539

Exercisable
3,868

 
7.86

 
3.8 years
 
$
2,526

Expected to vest
1,042

 
7.18

 
8.4 years
 
$
12


(1)
The weighted average grant date fair value of the Company’s options granted during the years ended December 31, 2016, 2015 and 2014 was $2.82, $4.25 and $4.69 per share, respectively.
(2)
Cash received from option exercises during the years ended December 31, 2016, 2015 and 2014 was $0.6 million, $3.8 million and $2.4 million, respectively.  The total intrinsic value of the options exercised during the years ended December 31, 2016, 2015 and 2014 was $0.4 million, $2.8 million and $1.5 million, respectively.
(3)
Reflects the weighted average exercise price per share.
  
Summary of Unvested Options and Changes
A summary of the Company’s unvested options at and changes during the year ended December 31, 2016 is presented below:
(In thousands, except per share data)
Options
 
Weighted Average Grant Date Fair Value
Unvested, January 1, 2016
1,690

 
$
4.27

Granted
290

 
2.82

Vested (1)
(657
)
 
4.18

Forfeited
(159
)
 
4.22

Unvested, December 31, 2016
1,164

 
$
3.97


(1)
The total fair value of the Company’s options vested during the years ended December 31, 2016, 2015 and 2014 was $2.7 million, $4.2 million and $6.1 million, respectively.
  
Summary of Restricted Stock and Restricted Stock Units Outstanding and Activity
The following table presents a summary of the Company's restricted stock and restricted stock units outstanding at and activity during the year ended December 31, 2016 (“Price” reflects the weighted average share price at the date of grant):
(In thousands, except per share data)
Awards
 
Price
Outstanding, January 1, 2016
2,762

 
$
8.43

Granted
1,510

 
5.67

Vested (restriction lapsed)
(1,198
)
 
6.85

Forfeited
(331
)
 
8.19

Outstanding, December 31, 2016
2,743

 
7.63

  
Computation of Earnings (Loss) Per Share
The following table presents the computation of earnings (loss) per share for the years ended December 31, 2016, 2015 and 2014:
(In thousands, except per share data)
Years Ended December 31,
 
2016
 
2015
 
2014
NUMERATOR:
 
 
 
 
 
Net income (loss) attributable to the Company – common shares
$
141,431

 
$
(96,072
)
 
$
(9,590
)
 
 
 
 
 
 
DENOMINATOR:
 

 
 

 
 

Weighted average common shares outstanding – basic
360,294

 
359,508

 
358,565

Stock options and restricted stock(1):
1,318

 


 


Weighted average common shares outstanding – diluted
361,612

 
359,508

 
358,565

 
 
 
 
 
 
Net income (loss) attributable to the Company per common share:
 

 
 

 
 

Basic
$
0.39

 
$
(0.27
)
 
$
(0.03
)
Diluted
$
0.39

 
$
(0.27
)
 
$
(0.03
)
(1)
5.6 million, 8.1 million and 8.5 million stock options and restricted shares were outstanding at December 31, 2016, 2015 and 2014, respectively, that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive.