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Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies [Abstract]

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17.COMMITMENTS AND CONTINGENCIES

The Company is obligated under various non-cancelable operating leases for land, office space, equipment, and site leases. In addition, the Company is obligated under various non-cancelable financing leases for vehicles. The annual minimum lease payments, including fixed rate escalations as of December 31, 2019 are as follows (in thousands):



	Finance Leases		Operating Leases
2020	$	1,374	$	254,660
2021		1,201		256,197
2022		985		257,201
2023		545		257,277
2024		11		255,925
Thereafter		—		2,992,385
Total minimum lease payments		4,116		4,273,645
Less: amount representing interest		(224)		(1,751,122)
Present value of future payments		3,892		2,522,523
Less: current obligations		(1,350)		(245,665)
Long-term obligations	$	2,542	$	2,276,858

Tenant (Operating) Leases

The annual minimum tower lease income to be received for tower space rental under non-cancelable operating leases, including fixed rate escalations, as of December 31, 2019 is as follows:



	(in thousands)
2020	$	1,678,713
2021		1,438,088
2022		1,189,381
2023		981,573
2024		732,792
Thereafter		1,821,715
Total	$	7,842,262

Litigation

The Company is involved in various claims, lawsuits and proceedings arising in the ordinary course of business. While there are uncertainties inherent in the ultimate outcome of such matters and it is impossible to presently determine the ultimate costs that may be incurred, management believes the resolution of such uncertainties and the incurrence of such costs will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity.

Contingent Purchase Obligations

From time to time, the Company agrees to pay additional consideration (or earnouts) for acquisitions if the towers or businesses that are acquired meet or exceed certain performance targets in the one year to three years after they have been acquired. Please refer to Note 3.