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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Site leasing $ 587,302 $ 535,492 $ 1,726,967 $ 1,564,814
Site development 88,282 53,813 220,393 148,882
Total revenues 675,584 589,305 1,947,360 1,713,696
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):        
Cost of site leasing 112,013 98,666 330,682 289,510
Cost of site development 65,540 41,357 165,809 116,172
Selling, general, and administrative expenses [1] 65,843 51,000 191,241 156,546
Acquisition and new business initiatives related adjustments and expenses 6,844 5,730 18,776 17,525
Asset impairment and decommission costs 8,532 9,860 25,565 18,560
Depreciation, accretion, and amortization 173,825 170,916 524,541 530,266
Total operating expenses 432,597 377,529 1,256,614 1,128,579
Operating income 242,987 211,776 690,746 585,117
Other income (expense):        
Interest income 2,858 945 6,878 2,124
Interest expense (86,961) (89,199) (253,528) (269,839)
Non-cash interest expense (11,528) (11,820) (34,582) (35,436)
Amortization of deferred financing fees (4,955) (4,934) (14,758) (14,690)
Loss from extinguishment of debt, net       (13,672)
Other (expense) income, net (39,756) (69,804) 2,262 (49,390)
Total other expense net (140,342) (174,812) (293,728) (380,903)
Income before income taxes 102,645 36,964 397,018 204,214
(Provision) benefit for income taxes (2,883) 10,834 (39,797) (15,494)
Net income 99,762 47,798 357,221 188,720
Net loss attributable to noncontrolling interests 247   929  
Net income attributable to SBA Communications Corporation $ 100,009 $ 47,798 $ 358,150 $ 188,720
Net income per common share attributable to SBA Communications Corporation:        
Basic $ 0.93 $ 0.44 $ 3.32 $ 1.72
Diluted $ 0.91 $ 0.43 $ 3.27 $ 1.70
Weighted average number of common shares        
Basic 107,916 109,577 107,950 109,487
Diluted 109,358 111,565 109,416 111,329
[1] Includes non-cash compensation of $24,945 and $16,589 for the three months ended September 30, 2022 and 2021, respectively, and $72,309 and $57,249 for the nine months ended September 30, 2022 and 2021, respectively.