Concentration of Credit Risk

12 Months Ended

Dec. 31, 2024

Concentration of Credit Risk [Abstract]

Concentration of Credit Risk

18.CONCENTRATION OF CREDIT RISK

The Company’s credit risks consist primarily of accounts receivable with national, regional, and local wireless service providers and federal and state government agencies. The Company performs periodic credit evaluations of its customers’ financial condition and provides allowances for doubtful accounts, as required, based upon factors surrounding the credit risk of specific customers, historical trends, and other information. The Company generally does not require collateral.

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The following is a list of significant customers (representing at least 10% of revenue for any period reported) and the percentage of total revenue for the specified time periods derived from such customers:

	For the year ended December 31,
Percentage of Total Revenues	2024	2023	2022
T-Mobile	30.5%	32.5%	36.4%
AT&T Wireless	20.6%	19.5%	19.6%
Verizon Wireless	15.1%	14.6%	14.5%

The Company’s site leasing and site development segments derive revenue from these customers. Client percentages of total revenue in each of the segments are as follows:

	For the year ended December 31,
Percentage of Domestic Site Leasing Revenue	2024	2023	2022
T-Mobile	38.1%	40.2%	40.6%
AT&T Wireless	29.6%	28.6%	29.0%
Verizon Wireless	20.1%	19.7%	20.1%
	For the year ended December 31,
Percentage of International Site Leasing Revenue	2024	2023	2022
Telefonica	21.3%	22.5%	20.7%
Claro	19.2%	20.2%	19.0%
TIM	15.9%	15.7%	17.3%

	For the year ended December 31,
Percentage of Site Development Revenue	2024	2023	2022
T-Mobile	69.9%	71.5%	80.1%
Verizon Wireless	20.1%	16.8%	7.8%

Five customers comprised 61.4% and 65.6% of total gross accounts receivable at December 31, 2024 and 2023, respectively.