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

Income

Cost to

of Current

Date of

Date

Statement is

Description

Encumbrances

Company

Acquisition

Period

Construction

Acquired

Computed

(in thousands)

39,749 sites

⁽¹⁾

10,672,750

⁽²⁾

⁽³⁾

8,213,791

⁽⁴⁾

(4,291,860)

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, 2024, certain assets secure debt of $10.7 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.



	2024		2023		2022

	(in thousands)
Gross amount at beginning	$	8,231,510	$	7,993,750	$	7,068,208
Additions during period:
Acquisitions ⁽¹⁾		34,350		22,081		727,863
Construction and related costs on new builds		131,539		59,873		69,384
Augmentation and tower upgrades		54,181		82,917		60,247
Land buyouts and other assets		31,739		32,247		26,588
Tower maintenance		50,182		49,471		42,048
Other ⁽²⁾		2,942		35,880		23,824
Total additions		304,933		282,469		949,954
Deductions during period:
Cost of real estate sold or disposed		(437)		(8,024)		(610)
Impairment ⁽³⁾		(73,977)		(119,307)		(23,638)
Other ⁽⁴⁾		(248,238)		82,622		(164)
Total deductions		(322,652)		(44,709)		(24,412)
Balance at end	$	8,213,791	$	8,231,510	$	7,993,750

(1)Inclusive of changes between the final purchase price allocation and the preliminary purchase price allocations. 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.



	2024		2023		2022

	(in thousands)
Gross amount of accumulated depreciation at beginning	$	(4,232,369)	$	(3,925,893)	$	(3,644,238)
Additions during period:
Depreciation ⁽¹⁾		(128,548)		(300,458)		(285,918)
Other ⁽²⁾		(693)		(14,339)		(3,382)
Total additions		(129,241)		(314,797)		(289,300)
Deductions during period:
Amount of accumulated depreciation for assets sold or disposed		24,210		8,070		7,505
Other ⁽²⁾		45,540		251		140
Total deductions		69,750		8,321		7,645
Balance at end	$	(4,291,860)	$	(4,232,369)	$	(3,925,893)

(1)Amounts as of December 31, 2022 include the depreciation related to the acquisition of sites from GTS.