OUTFRONT Media Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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Item 15. Exhibits, Financial Statement Schedules
(a)(1)Financial Statements. The financial statements filed as part of this Annual Report on Form 10-K are listed in the index to the financial statements, which is included in “Item 8. Financial Statements and Supplementary Data.”
(a)(2)Financial Statement Schedules. The following financial statement schedules should be read in conjunction with the consolidated financial statements included in “Item 8. Financial Statements and Supplementary Data.” All other schedules for which provision is made in the applicable accounting regulation of the SEC are not required under the related instructions or are inapplicable, and therefore have been omitted.
| Page No. | |
|---|---|
| Schedule II - Valuation and Qualifying Accounts for the years ended December 31, 2025, 2024 and 2023. | 98 |
| Schedule III - Schedule of Real Estate and Accumulated Depreciation as of December 31, 2025. | 99 |
Schedule II—Valuation and Qualifying Accounts
(in millions)
| Col. A · Col. B · Col. C · Col. D · Col. E | ||||||
|---|---|---|---|---|---|---|
| Description | Balance atBeginningof Period | BalanceAcquired throughAcquisitions | Charged toCosts andExpenses | Chargedto OtherAccounts(a) | Deductions | Balance atEnd ofPeriod |
| Allowance for doubtful accounts: | ||||||
| Year ended December 31, 2025 | $20.6 | $— | $6.5 | $0.3 | $4.2 | $23.2 |
| Year ended December 31, 2024 | 17.2 | — | 5.6 | 1.2 | 3.4 | 20.6 |
| Year ended December 31, 2023 | 20.2 | — | 5.8 | (0.1) | 8.7 | 17.2 |
| Valuation allowance on deferred tax assets: | ||||||
| Year ended December 31, 2025 | $23.8 | $— | $0.3 | $— | $— | $24.1 |
| Year ended December 31, 2024 | 16.6 | — | 7.2 | — | — | 23.8 |
| Year ended December 31, 2023 | 11.9 | — | 4.7 | — | — | 16.6 |
(a)Reflects recoveries, change in allowance related to foreign currency translation adjustments in 2024 and 2023 and amounts reclassified to Assets held for sale on the Consolidated Statements of Financial Position in 2023.
SCHEDULE III – Schedule of Real Estate and
Accumulated Depreciation
as of December 31, 2025
(in millions)
| Initial Cost · CostCapitalizedSubsequenttoAcquisition · Gross Carrying Amount at December 31, 2025 (3) | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description (1) · Encumbrances · Land · Structures and Improvements · Land · Structures and Improvements · Total · AccumulatedDepreciation · ConstructionDate · AcquisitionDate · UsefulLives | ||||||||||||||||||||
| 35,834 displays | — | (2) | (2) | (2) | $79.8 | $1,410.8 | $1,490.6 | $(1,126.0) | Various | Various | 3 to 20 years | |||||||||
| 2,406 displays | $30.6 | $388.9 | $(56.3) | $30.6 | $332.6 | $363.2 | $(172.1) | Various | Various | 3 to 20 years | ||||||||||
| Total | ||||||||||||||||||||
| 38,240 displays | $110.4 | $1,743.4 | $1,853.8 | $(1,298.1) | Various | Various | 3 to 20 years | |||||||||||||
(1)No single asset exceeded 5% of the total gross carrying amount as of December 31, 2025.
(2)This information is omitted as it would be impracticable to compile on a site-by-site basis.
(3)Includes sites under construction.
The following table summarizes the activity for the Company’s real estate assets, which consist of advertising displays, and the related accumulated depreciation.
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Gross real estate assets: | |||
| Balance at the beginning of the year | $1,863.0 | $2,186.5 | $2,119.0 |
| New Investments | 18.8 | 14.0 | 19.6 |
| Redevelopments | 38.1 | 33.7 | 37.2 |
| Recurring capital expenditures | 18.8 | 15.0 | 8.8 |
| Land acquisitions | 0.2 | 0.1 | 0.1 |
| Additions for construction of / improvements to structures | 75.9 | 62.8 | 65.7 |
| Assets sold or written-off | (85.1) | (374.6) | (6.5) |
| Foreign exchange | — | (11.7) | 8.3 |
| Balance at the end of the year | $1,853.8 | $1,863.0 | $2,186.5 |
| Accumulated depreciation: | |||
| Balance at the beginning of the year | $1,307.3 | $1,594.4 | $1,519.5 |
| Depreciation | 72.8 | 59.5 | 60.2 |
| Impairment | — | — | 12.5 |
| Assets sold or written-off | (82.0) | (335.9) | (5.4) |
| Foreign exchange | — | (10.7) | 7.6 |
| Balance at the end of the year | $1,298.1 | $1,307.3 | $1,594.4 |
(a)(3)Exhibits. The exhibits filed as part of this Annual Report on Form 10-K are listed on the Exhibit Index immediately following “Item 16. Form 10-K Summary,” which is incorporated herein by reference.
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