LONG-TERM OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Outstanding amounts under the Company’s long-term obligations, reflecting discounts, premiums, debt issuance costs and fair value adjustments due to interest rate swaps consisted of the following:

	As of
	December 31, 2019			December 31, 2018			Contractual Interest Rate (1)		Maturity Date (1)
2018 Term Loan (2) (3)	$	—		$	1,499.8		N/A		N/A
2019 364-Day Term Loan (2) (4)	999.9			—			2.600	%	February 13, 2020
2019 Multicurrency Credit Facility (2)	700.0			1,875.0			2.865	%	June 28, 2023
2019 Term Loan (2)	995.2			994.8			2.925	%	January 31, 2025
2019 Credit Facility (2)	1,600.0			—			4.875	%	January 31, 2025
3.40% senior notes (5)	—			1,000.0			N/A		N/A
2.800% senior notes	749.4			747.8			2.800	%	June 1, 2020
5.050% senior notes (6)	—			698.7			N/A		N/A
3.300% senior notes	748.5			747.2			3.300	%	February 15, 2021
3.450% senior notes	647.7			646.3			3.450	%	September 15, 2021
5.900% senior notes (7)	498.9			498.4			5.900	%	November 1, 2021
2.250% senior notes	592.1			572.7			2.250	%	January 15, 2022
4.70% senior notes	698.2			697.4			4.700	%	March 15, 2022
3.50% senior notes	994.3			992.6			3.500	%	January 31, 2023
3.000% senior notes	704.9			687.5			3.000	%	June 15, 2023
5.00% senior notes	1,001.7			1,002.1			5.000	%	February 15, 2024
3.375% senior notes	644.4			—			3.375	%	May 15, 2024
2.950% senior notes	641.3			—			2.950	%	January 15, 2025
1.375% senior notes	553.0			564.0			1.375	%	April 4, 2025
4.000% senior notes	743.2			742.1			4.000	%	June 1, 2025
4.400% senior notes	496.6			496.1			4.400	%	February 15, 2026
1.950% senior notes	554.4			566.0			1.950	%	May 22, 2026
3.375% senior notes	987.9			986.3			3.375	%	October 15, 2026
3.125% senior notes	397.6			397.3			3.125	%	January 15, 2027
2.750% senior notes	743.5			—			2.750	%	January 15, 2027
3.55% senior notes	744.1			743.5			3.550	%	July 15, 2027
3.600% senior notes	692.6			691.9			3.600	%	January 15, 2028
3.950% senior notes	589.6			—			3.950	%	March 15, 2029
3.800% senior notes	1,631.7			—			3.800	%	August 15, 2029
3.700% senior notes	591.8			—			3.700	%	October 15, 2049
Total American Tower Corporation debt	20,942.5			17,847.5
Series 2013-2A Securities (8)	1,295.0			1,293.4			3.070	%	March 15, 2023
Series 2018-1A Securities (8)	493.8			493.5			3.652	%	March 15, 2028
Series 2015-1 Notes (9)	349.6			348.8			2.350	%	June 15, 2020
Series 2015-2 Notes (10)	521.4			520.8			3.482	%	June 16, 2025
India indebtedness (11)	—			240.1			Various		Various
India preference shares (12)	—			23.9			N/A		N/A
Shareholder loan (13)	—			59.9			N/A		N/A
Other subsidiary debt (14)	422.4			152.5			Various		Various
Total American Tower subsidiary debt	3,082.2			3,132.9
Finance and capital lease obligations	30.7			179.5
Total	24,055.4			21,159.9
Less current portion long-term obligations	(2,928.2		)	(2,754.8		)
Long-term obligations	$	21,127.2		$	18,405.1

_______________

(1) Represents the interest rate or maturity date as of December 31, 2019; interest rate does not reflect the impact of the interest rate swap agreements.

(2) Accrues interest at a variable rate. Interest rates on outstanding balances are calculated using a weighted average.

(3) Repaid in full on February 14, 2019 using proceeds from the 2019 364-Day Term Loan (as defined below) and cash on hand.

(4) Repaid in full on the maturity date in February 2020 using proceeds from the 2020 Term Loan (as defined in note 24), borrowings from the 2019 Credit Facility and cash on hand. For more information, see note 24.

(5) Repaid in full on the maturity date in February 2019 with borrowings from the 2019 Multicurrency Credit Facility and the 2019 Credit Facility (each as defined below).

(6) Repaid in full on April 22, 2019 with borrowings from the 2019 Credit Facility and cash on hand.

(7) Repaid in full on January 15, 2020 with borrowings from the 2019 Credit Facility and cash on hand. For more information, see note 24.

(8) Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2048.

(9) Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2045.

(10) Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2050.

(11) Denominated in Indian Rupees (“INR”). Included India working capital facilities, remaining debt assumed by the Company in connection with the Viom Acquisition (as defined in note 15) and debt that had been entered into by ATC TIPL. During the year ended December 31, 2019, the Company repaid all remaining debt assumed in connection with the Viom Acquisition and debt entered into by ATC TIPL.

(12) Mandatorily redeemable preference shares (the “Preference Shares”) denominated in INR and classified as debt. The Preference Shares were redeemed on March 2, 2019.

(13) Reflects balance owed to the Company’s joint venture partner in Ghana. The Ghana loan is denominated in Ghanaian Cedi (“GHS”). On June 14, 2019, the Company purchased the remaining 294.4 million GHS ($56.8 million) of principal outstanding under the Ghana loan, plus unpaid interest. Amounts under the loan are now owed to one of the Company’s subsidiaries and, as a result, are eliminated in consolidation as of the purchase date.

(14)

Includes the Brazil Credit Facility (as defined below), which is denominated in Brazilian Real (“BRL”) and has an original amortization through January 15, 2022, the South African Credit Facility (as defined below), which is denominated in South African Rand (“ZAR”) and amortizes through December 17, 2020, the Colombian Credit Facility (as defined below), which is denominated in Colombian Peso (“COP”) and amortizes through April 24, 2021, the Kenya Debt (as defined below), which is denominated in U.S. Dollar (“USD”) and is payable either (i) in future installments subject to the satisfaction of specified conditions or (ii) three years from the note origination date, the U.S. Subsidiary Debt (as defined below) and the Eaton Towers Debt (as defined below), which is denominated in multiple currencies, including USD, EUR, Kenyan Shilling (“KES”), and West African CFA Franc (“XOF”), and amortizes over various terms. Subsequent to December 31, 2019, the Company repaid all of the outstanding Eaton Towers USD denominated and KES denominated debt.

Amounts outstanding and key terms of other subsidiary debt consisted of the following as of December 31, (in millions, except percentages):

	Carrying Value (Denominated Currency) (1)		Carrying Value  (USD) (1)				Interest Rate		Maturity Date
	2019	2018	2019		2018
South African Credit Facility (2)	288.7	577.4	$	20.6	$	40.2	8.75	%	December 17, 2020
Colombian Credit Facility (3)	79,647.3	109,193.8	$	24.3	$	33.6	8.13	%	April 24, 2021
Brazil Credit Facility (4)	65.4	94.7	$	16.2	$	24.4	Various		January 15, 2022
Kenya Debt (5)	29.6	51.8	$	29.6	$	51.8	8.00	%	October 1, 2021
U.S. Subsidiary Debt (6)	1.9	2.5	$	1.9	$	2.5	—	%	January 1, 2022
Eaton Towers Debt (7):
USD Denominated (8)	238.8	—	$	238.8	$	—	Various		Various
EUR Denominated	26.2	—	$	29.5	$	—	Various		Various
XOF Denominated	16,836.8	—	$	28.8	$	—	Various		Various
KES Denominated (8)	3,319.2	—	$	32.7	$	—	Various		Various

_______________

(1) Includes applicable deferred financing costs.

(2) Denominated in ZAR, with an original principal amount of 830.0 million ZAR. On December 23, 2016, the borrower borrowed an additional 500.0 million ZAR. Debt accrues interest at a variable rate. The borrower no longer maintains the ability to draw on the South African Credit Facility.

(3) Denominated in COP, with an original principal amount of 200.0 billion COP. Debt accrues interest at a variable rate. The loan agreement for the Colombian Credit Facility requires that the borrower manage exposure to variability in interest rates on certain of the amounts outstanding under the Colombian Credit Facility. The borrower no longer maintains the ability to draw on the Colombian Credit Facility.

(4) Denominated in BRL, with an original principal amount of 271.0 million BRL. Debt accrues interest at a variable rate. The borrower no longer maintains the ability to draw on the Brazil Credit Facility.

(5) Denominated in USD, with an original principal amount of $51.8 million. The loan agreement for the Kenya Debt requires that the debt be paid either (i) in future installments subject to the satisfaction of specified conditions or (ii) three years from the note origination date.

(6) Related to a seller-financed acquisition. Denominated in USD with an original principal amount of $2.5 million.

(7) Related to the Eaton Towers Acquisition. Denominated in multiple currencies, including USD, EUR, KES and XOF. Amounts shown represent principal outstanding as of December 31, 2019.

(8)

Subsequent to December 31, 2019, the Company repaid

Schedule of Line of Credit Facilities

As of December 31, 2019, the key terms under the 2019 Multicurrency Credit Facility, the 2019 Credit Facility, the 2019 Term Loan and the 2019 364-Day Term Loan were as follows:

	Outstanding Principal Balance			Undrawn letters of credit		Maturity Date		Current margin over LIBOR		Current commitment fee (1)
2019 Multicurrency Credit Facility	$	700.0		$	3.8	June 28, 2023	(3)	1.125	%	0.110	%
2019 Credit Facility	$	1,600.0		$	6.1	January 31, 2025	(3)	1.125	%	0.110	%
2019 Term Loan	$	1,000.0	(2)	N/A		January 31, 2025		1.125	%	N/A
2019 364-Day Term Loan	$	1,000.0	(2)	N/A		February 13, 2020		0.800	%	N/A

_______________

(1)    Fee on undrawn portion of each credit facility.

(2)    Borrowed at LIBOR

(3)    Subject to two optional renewal periods.

Schedule of Debt Discounts

The following table outlines key terms related to the Company’s outstanding senior notes as of December 31, 2019:

			Adjustments to Principal Amount (1)
	Aggregate Principal Amount		2019			2018			Interest payments due (2)	Issue Date	Par Call Date (3)
2.800% Notes	$	750.0	$	(0.6	)	$	(2.2	)	June 1 and December 1	May 7, 2015	May 1, 2020
3.300% Notes	750.0		(1.5		)	(2.8		)	February 15 and August 15	January 12, 2016	January 15, 2021
3.450% Notes	650.0		(2.3		)	(3.7		)	March 15 and September 15	August 7, 2014	N/A
5.900% Notes (4)	500.0		(1.1		)	(1.6		)	May 1 and November 1	October 6, 2011	N/A
2.250% Notes (5)	600.0		(7.9		)	(27.3		)	January 15 and July 15	September 30, 2016	N/A
4.70% Notes	700.0		(1.8		)	(2.6		)	March 15 and September 15	March 12, 2012	N/A
3.50% Notes	1,000.0		(5.7		)	(7.4		)	January 31 and July 31	January 8, 2013	N/A
3.000% Notes (6)	700.0		4.9			(12.5		)	June 15 and December 15	December 8, 2017	N/A
5.00% Notes (7)	1,000.0		1.7			2.1			February 15 and August 15	August 19, 2013	N/A
3.375% Notes	650.0		(5.6		)	—			May 15 and November 15	March 15, 2019	April 15, 2024
2.950% Notes	650.0		(8.7		)	—			January 15 and July 15	June 13, 2019	December 15, 2024
1.375% Notes (8)	560.6		(7.6		)	(9.3		)	April 4	April 6, 2017	January 4, 2025
4.000% Notes	750.0		(6.8		)	(7.9		)	June 1 and December 1	May 7, 2015	March 1, 2025
4.400% Notes	500.0		(3.4		)	(3.9		)	February 15 and August 15	January 12, 2016	November 15, 2025
1.950% Notes (8)	560.6		(6.2		)	(7.3		)	May 22	May 22, 2018	February 22, 2026
3.375% Notes	1,000.0		(12.1		)	(13.7		)	April 15 and October 15	May 13, 2016	July 15, 2026
3.125% Notes	400.0		(2.4		)	(2.7		)	January 15 and July 15	September 30, 2016	October 15, 2026
2.750% Notes	750.0		(6.5		)	—			January 15 and July 15	October 3, 2019	November 15, 2026
3.55% Notes	750.0		(5.9		)	(6.5		)	January 15 and July 15	June 30, 2017	April 15, 2027
3.600% Notes	700.0		(7.4		)	(8.1		)	January 15 and July 15	December 8, 2017	October 15, 2027
3.950% Notes	600.0		(10.4		)	—			March 15 and September 15	March 15, 2019	December 15, 2028
3.800% Notes	1,650.0		(18.3		)	—			February 15 and August 15	June 13, 2019	May 15, 2029
3.700% Notes	600.0		(8.2		)	—			April 15 and October 15	October 3, 2019	April 15, 2049

_______________

(1) Includes unamortized discounts, premiums and debt issuance costs and fair value adjustments due to interest rate swaps.

(2) Interest payments are due semi-annually for each series of senior notes, except for the 1.375% Notes and the 1.950% Notes, for which interest payments are due annually.

(3) If the Company redeems the notes on or after the par call date, the Company will not be required to pay a make-whole premium.

(4) The 5.900% Notes were repaid on January 15, 2020. For more information, see note 24.

(5) Includes ($5.9) million and ($24.3) million fair value adjustment due to interest rate swaps in 2019 and 2018, respectively,

(6) Includes $9.2 million and ($7.0) million fair value adjustment due to interest rate swaps in 2019 and 2018, respectively.

(7) The original issue date for the 5.00% Notes was August 19, 2013. The issue date for the reopened 5.00% Notes was January 10, 2014.

(8) Notes are denominated in EUR.

Schedule of India Indebtedness

Amounts outstanding and key terms of the India indebtedness consisted of the following as of December 31, 2019 (in millions, except percentages):

	Amount Outstanding (INR)	Amount Outstanding (USD)		Interest Rate (Range)	Maturity Date (Range)
Working capital facilities (1)	—	$	—	8.15% - 8.75%	March 18, 2020 - October 23, 2020

_______________

(1)

5.6 billion INR ($78.9 million) of borrowing capacity as of December 31, 2019.

Schedule of Maturities of Long-term Debt

Aggregate principal maturities of long-term debt, including finance leases, for the next five years and thereafter are expected to be:

Fiscal Year	Amount
2020	$	2,928.2
2021	1,446.6
2022	1,339.0
2023	3,722.8
2024	1,651.2
Thereafter	13,111.9
Total cash obligations	24,199.7
Unamortized discounts, premiums and debt issuance costs and fair value adjustments, net	(144.3		)
Balance as of December 31, 2019	$	24,055.4