Segment Data (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information



	Domestic Site		Int'l Site		Site
	Leasing		Leasing		Development		Other		Total

For the year ended December 31, 2024	(in thousands)
Revenues ⁽¹⁾	$	1,861,424	$	665,341	$	152,869	$	—	$	2,679,634
Cost of revenues ⁽²⁾		269,168		193,829		118,730		—		581,727
Operating profit		1,592,256		471,512		34,139		—		2,097,907
Selling, general, and administrative expenses		132,627		64,583		13,983		47,563		258,756
Acquisition and new business initiatives
related adjustments and expenses		14,954		10,992		—		—		25,946
Asset impairment and decommission costs		49,777		57,030		—		1,118		107,925
Depreciation, amortization and accretion		145,041		113,549		3,560		7,367		269,517
Operating income (loss)		1,249,857		225,358		16,596		(56,048)		1,435,763
Other expense, net (principally interest
expense and other income)								(663,097)		(663,097)
Income before income taxes										772,666
Cash capital expenditures ⁽³⁾		374,339		150,345		1,014		2,598		528,296
For the year ended December 31, 2023
Revenues ⁽¹⁾	$	1,846,554	$	670,381	$	194,649	$	—	$	2,711,584
Cost of revenues ⁽²⁾		268,572		204,115		139,935		—		612,622
Operating profit		1,577,982		466,266		54,714		—		2,098,962
Selling, general, and administrative expenses		121,782		66,619		21,316		58,219		267,936
Acquisition and new business initiatives
related adjustments and expenses		10,725		10,946		—		—		21,671
Asset impairment and decommission costs		138,699		28,089		372		2,227		169,387
Depreciation, amortization and accretion		457,169		248,758		3,704		6,678		716,309
Operating income (loss)		849,607		111,854		29,322		(67,124)		923,659
Other expense, net (principally interest
expense and other income)								(375,156)		(375,156)
Income before income taxes										548,503
Cash capital expenditures ⁽³⁾		244,366		118,972		2,573		2,702		368,613
For the year ended December 31, 2022
Revenues ⁽¹⁾	$	1,777,593	$	558,982	$	296,879	$	—	$	2,633,454
Cost of revenues ⁽²⁾		264,149		181,536		222,965		—		668,650
Operating profit		1,513,444		377,446		73,914		—		1,964,804
Selling, general, and administrative expenses		102,619		62,911		22,911		73,412		261,853
Acquisition and new business initiatives
related adjustments and expenses		13,280		13,527		—		—		26,807
Asset impairment and decommission costs		33,880		9,280		—		—		43,160
Depreciation, amortization and accretion		489,072		209,563		2,521		6,420		707,576
Operating income (loss)		874,593		82,165		48,482		(79,832)		925,408
Other expense, net (principally interest
expense and other income)								(399,565)		(399,565)
Income before income taxes										525,843
Cash capital expenditures ⁽³⁾		235,787		1,148,941		4,057		5,610		1,394,395


	Domestic Site		Int'l Site		Site
	Leasing		Leasing		Development		Other ⁽⁴⁾		Total

Assets	(in thousands)
As of December 31, 2024	$	6,206,748	$	3,417,981	$	65,481	$	1,727,126	$	11,417,336
As of December 31, 2023	$	5,876,648	$	3,871,164	$	66,001	$	364,628	$	10,178,441

(1)For the years ended December 31, 2024, 2023, and 2022, site leasing revenue in Brazil was $379.8 million, $392.0 million, and $299.5 million, respectively. Other than Brazil, no foreign country represented more than 5% of the Company’s total site leasing revenues in any of the periods presented.

(2)Excludes depreciation, amortization, and accretion. Cost of revenues is primarily comprised of rent expense related to the Company’s leases.

(3)Includes cash paid for capital expenditures, acquisitions, and right-of-use assets.

(4)Assets in Other consist primarily of general corporate assets, short-term investments. Assets in Other for the period ended December 31, 2024 also includes $1.165 billion of cash held in escrow which was used to repay the 2019-1C Tower Securities.