Operating Segments Operating Segments (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Segment Reporting Information, by Segment


	Three Months Ended March 31, 2022								Three Months Ended March 31, 2021
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	1,075	$	501			$	1,576	$	895	$	474			$	1,369
Segment services and other revenues	163		3				166		111		5				116
Segment revenues	1,238		504				1,742		1,006		479				1,485
Segment site rental costs of operations	225		162				387		212		161				373
Segment services and other costs of operations	109		2				111		76		3				79
Segment costs of operations(a)(b)	334		164				498		288		164				452
Segment site rental gross margin	850		339				1,189		683		313				996
Segment services and other gross margin	54		1				55		35		2				37
Segment selling, general and administrative expenses(b)	28		47				75		25		45				70
Segment operating profit (loss)	876		293				1,169		693		270				963
Other selling, general and administrative expenses					$	74	74						$	66	66
Stock-based compensation expense					39		39						33		33
Depreciation, amortization and accretion					420		420						408		408
Interest expense and amortization of deferred financing costs					164		164						170		170
Other (income) expenses to reconcile to income (loss) before income taxes(c)					45		45						158		158
Income (loss) before income taxes							$	427							$	128
Capital expenditures	$	47	$	222	$	12	$	281	$	51	$	237	$	14	$	302
Total assets (at period end)	$	22,330	$	15,839	$	882	$	39,051	$	22,080	$	15,771	$	901	$	38,752

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

(b)Segment cost of operations excludes (1) stock-based compensation of $7 million and $5 million for the three months ended March 31, 2022 and 2021, respectively, and (2) prepaid lease purchase price adjustments of $4 million and $5 million for the three months ended March 31, 2022 and 2021, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $32 million and $28 million for the three months ended March 31, 2022 and 2021, respectively.

(c)See condensed consolidated statement of operations for further information.