Schedule III - Schedule of Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

Schedule III - Schedule of Real Estate and Accumulated Depreciation [Abstract]

Schedule III - Schedule of Real Estate and Accumulated Depreciation

Schedule III—Schedule of Real Estate and Accumulated Depreciation

Gross

Life on Which

Cost

Amount

Accumulated

Depreciation

Capitalized

Carried

Depreciation

in Latest

Initial

Subsequent

at Close

at Close

Income

Cost to

to

of Current

of Current

Date of

Date

Statement is

Description

Encumbrances

Company

Acquisition

Period

Period

Construction

Acquired

Computed

(in thousands)

39,618 sites

(1)

$

9,388,000

(2)

(3)

(3)

$

8,231,510

(4)

$

(4,232,369)

Various

Various

Up to 70 years

(5)

(1)No single site exceeds 5% of the aggregate gross amounts at which the assets were carried at the close of the period set forth in the table above.

(2)As of December 31, 2023, certain assets secure debt of $9.4 billion.

(3)The Company has omitted this information, as it would be impracticable to compile such information on a site-by-site basis.

(4)Does not include those sites under construction.

(5)Amounts include the acquisition of the exclusive right to lease and operate utility transmission structures, which included existing wireless tenant licenses from PG&E.

‎

	2023		2022		2021
	(in thousands)
Gross amount at beginning	$	7,993,750	$	7,068,208	$	5,963,048
Additions during period:
Acquisitions (1)		22,081		727,863		995,063
Construction and related costs on new builds		59,873		69,384		45,802
Augmentation and tower upgrades		82,917		60,247		32,953
Land buyouts and other assets		32,247		26,588		24,944
Tower maintenance		49,471		42,048		34,611
Other (2)		35,880		23,824		20,052
Total additions		282,469		949,954		1,153,425
Deductions during period:
Cost of real estate sold or disposed		(8,024)		(610)		(192)
Impairment (3)		(119,307)		(23,638)		(15,552)
Other (4)		82,622		(164)		(32,521)
Total deductions		(44,709)		(24,412)		(48,265)
Balance at end	$	8,231,510	$	7,993,750	$	7,068,208

(1)Inclusive of changes between the final purchase price allocation and the preliminary purchase price allocations. In addition, amounts as of December 31, 2021 include the acquisition of the exclusive right to lease and operate utility transmission structures, which included existing wireless tenant licenses from PG&E. Amounts as of December 31, 2022 include the acquisition of sites from GTS.

(2)Represents changes to the Company’s asset retirement obligations.

(3)Impairment charges for the year ended December 31, 2023 include the impact of the planned abandonment of identified sites with minimal expectations of future economic benefit (primarily from Sprint and Oi related churn).

(4)Primarily represents cumulative translation adjustments related to changes in foreign currency exchange rates.

	2023		2022		2021
	(in thousands)
Gross amount of accumulated depreciation at beginning	$	(3,925,893)	$	(3,644,238)	$	(3,383,370)
Additions during period:
Depreciation (1)		(300,458)		(285,918)		(273,655)
Other (2)		(14,339)		(3,382)		(91)
Total additions		(314,797)		(289,300)		(273,746)
Deductions during period:
Amount of accumulated depreciation for assets sold or disposed		8,070		7,505		3,638
Other (2)		251		140		9,240
Total deductions		8,321		7,645		12,878
Balance at end	$	(4,232,369)	$	(3,925,893)	$	(3,644,238)

(1)Amounts as of December 31, 2021 include depreciation related to the acquisition of the exclusive right to lease and operate utility transmission structures, which included existing wireless tenant licenses from PG&E. Amounts as of December 31, 2022 include the depreciation related to the acquisition of sites from GTS.

(2)Primarily represents cumulative translation adjustments related to changes in foreign currency exchange rates.