Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

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, 2024 are as follows (in thousands):



	Finance Leases		Operating Leases
2025	$	1,921	$	269,389
2026		1,042		265,258
2027		406		263,250
2028		115		259,080
2029		3		250,750
Thereafter		—		2,555,025
Total minimum lease payments		3,487		3,862,752
Less: amount representing interest		(350)		(1,701,433)
Present value of future payments		3,137		2,161,319
Less: current obligations		(1,252)		(259,765)
Long-term obligations	$	1,885	$	1,901,554

Tenant 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, 2024 is as follows:



	(in thousands)
2025	$	2,105,856
2026		1,858,268
2027		1,616,505
2028		1,333,310
2029		958,933
Thereafter		1,793,532
Total	$	9,666,404

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 2 and Note 7.