Operating Segments (Tables)

3 Months Ended

Mar. 31, 2014

Operating Segments

Financial Results of Operating Segments

	Three Months Ended March 31, 2014												Three Months Ended March 31, 2013
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net revenues:
Site rental	$	714,792		$	32,370		$	—		$	747,162		$	581,265		$	34,150		$	—		$	615,415
Network services and other	126,971			1,817			—			128,788			117,862			6,783			—			124,645
Net revenues	841,763			34,187			—			875,950			699,127			40,933			—			740,060
Operating expenses:
Costs of operations:(a)
Site rental	218,644			9,432			—			228,076			167,591			10,015			—			177,606
Network services and other	71,799			1,075			—			72,874			71,848			5,529			—			77,377
General and administrative	58,641			6,208			—			64,849			52,562			5,684			—			58,246
Asset write-down charges	2,636			97			—			2,733			3,603			112			—			3,715
Acquisition and integration costs	5,659			—			—			5,659			1,602			—			—			1,602
Depreciation, amortization and accretion	245,176			5,015			—			250,191			179,126			7,333			—			186,459
Total operating expenses	602,555			21,827			—			624,382			476,332			28,673			—			505,005
Operating income (loss)	239,208			12,360			—			251,568			222,795			12,260			—			235,055
Interest expense and amortization of deferred financing costs	(146,400		)	(3,683		)	3,683			(146,400		)	(164,369		)	(4,445		)	4,445			(164,369		)
Gains (losses) on retirement of long-term obligations	—			—			—			—			(35,909		)	—			—			(35,909		)
Interest income	114			59			—			173			203			94			—			297
Other income (expense)	947			—			(3,683		)	(2,736		)	3,819			(3		)	(4,445		)	(629		)
Benefit (provision) for income taxes	3,040			(2,852		)	—			188			(15,613		)	(2,095		)	—			(17,708		)
Net income (loss)	96,909			5,884			—			102,793			10,926			5,811			—			16,737
Less: net income (loss) attributable to the noncontrolling interest	—			1,296			—			1,296			—			1,275			—			1,275
Net income (loss) attributable to CCIC stockholders	$	96,909		$	4,588		$	—		$	101,497		$	10,926		$	4,536		$	—		$	15,462
Capital expenditures	$	138,838		$	4,105		$	—		$	142,943		$	113,199		$	3,154		$	—		$	116,353

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(a) Exclusive of depreciation, amortization and accretion shown separately.

Reconciliation of Net Income (Loss) to Adjusted EBITDA

The following is a reconciliation of net income (loss) to Adjusted EBITDA for the three months ended March 31, 2014 and 2013.

	Three Months Ended March 31, 2014												Three Months Ended March 31, 2013
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net income (loss)	$	96,909		$	5,884		$	—		$	102,793		$	10,926		$	5,811		$	—		$	16,737
Adjustments to increase (decrease) net income (loss):
Asset write-down charges	2,636			97			—			2,733			3,603			112			—			3,715
Acquisition and integration costs	5,659			—			—			5,659			1,602			—			—			1,602
Depreciation, amortization and accretion	245,176			5,015			—			250,191			179,126			7,333			—			186,459
Amortization of prepaid lease purchase price adjustments	3,895			—			—			3,895			3,863			—			—			3,863
Interest expense and amortization of deferred financing costs	146,400			3,683			(3,683		)	146,400			164,369			4,445			(4,445		)	164,369
Gains (losses) on retirement of long-term obligations	—			—			—			—			35,909			—			—			35,909
Interest income	(114		)	(59		)	—			(173		)	(203		)	(94		)	—			(297		)
Other income (expense)	(947		)	—			3,683			2,736			(3,819		)	3			4,445			629
Benefit (provision) for income taxes	(3,040		)	2,852			—			(188		)	15,613			2,095			—			17,708
Stock-based compensation expense	11,956			981			—			12,937			10,029			68			—			10,097
Adjusted EBITDA(a)	$	508,530		$	18,453		$	—		$	526,983		$	421,018		$	19,773		$	—		$	440,791

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(a) The above reconciliation excludes line items included in our Adjusted EBITDA definition for which there is no activity for the periods shown.