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BUSINESS SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting, Measurement Disclosures [Abstract]  
Summarized financial information concerning the company's reportable segments
Summarized financial information concerning the Company’s reportable segments for the years ended December 31, 2019, 2018 and 2017 is shown in the following tables. The “Other” column (i) represents amounts excluded from specific segments, such as business development operations, stock-based compensation expense and corporate expenses included in Selling, general, administrative and development expense; Other operating expenses; Interest income; Interest expense; Gain (loss) on retirement of long-term obligations; and Other income (expense), and (ii) reconciles segment operating profit to Income from continuing operations before income taxes.
 
 
Property
Total 
Property
 

Services
 
Other
 
Total
Year ended December 31, 2019
 
U.S.
 
Asia
 
Africa
 
Europe
 
Latin America
 
Segment revenues
 
$
4,188.7

 
$
1,217.0

 
$
583.9

 
$
134.6

 
$
1,340.7

 
$
7,464.9

 
$
115.4

 
 
 
$
7,580.3

Segment operating expenses (1)
 
807.9

 
715.9

 
209.0

 
27.8

 
411.3

 
2,171.9

 
42.1

 
 
 
2,214.0

Segment gross margin
 
3,380.8

 
501.1

 
374.9

 
106.8

 
929.4

 
5,293.0

 
73.3

 
 
 
5,366.3

Segment selling, general, administrative and development expense (1)
 
175.5

 
99.9

 
53.7

 
23.2

 
101.0

 
453.3

 
12.0

 
 
 
465.3

Segment operating profit
 
$
3,205.3

 
$
401.2

 
$
321.2

 
$
83.6

 
$
828.4

 
$
4,839.7

 
$
61.3

 
 
 
$
4,901.0

Stock-based compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
111.4

 
111.4

Other selling, general, administrative and development expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
156.5

 
156.5

Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,778.4

 
1,778.4

Other expense (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
938.3

 
938.3

Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
1,916.4

Capital expenditures (3) (4)
 
$
359.5

 
$
134.5

 
$
258.5

 
$
13.2

 
$
260.4

 
$
1,026.1

 
$
—

 
$
12.8

 
$
1,038.9

_______________
(1)
Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $2.8 million and $108.6 million, respectively.
(2)
Primarily includes interest expense.
(3)
Includes $18.0 million of finance lease payments included in Repayments of notes payable, credit facilities, term loan, senior notes, secured debt and finance leases in the cash flows from financing activities in the Company’s consolidated statements of cash flows.
(4)
Includes $29.6 million of perpetual land easement payments reported in Deferred financing costs and other financing activities in the cash flows from financing activities in the Company’s consolidated statements of cash flows.
 
 
Property
 
Total 
Property
 

Services
 
Other
 
Total
Year ended December 31, 2018
 
U.S.
 
Asia
 
Africa
 
Europe
 
Latin America
 
Segment revenues (1)
 
$
3,822.1

 
$
1,540.5

 
$
545.5

 
$
141.8

 
$
1,264.8

 
$
7,314.7

 
$
125.4

 
 
 
$
7,440.1

Segment operating expenses (2)
 
771.0

 
710.9

 
208.0

 
30.1

 
406.3

 
2,126.3

 
48.2

 
 
 
2,174.5

Interest expense, TV Azteca, net
 
—

 
—

 
—

 
—

 
(0.1
)
 
(0.1
)
 
—

 
 
 
(0.1
)
Segment gross margin
 
3,051.1

 
829.6

 
337.5

 
111.7

 
858.4

 
5,188.3

 
77.2

 
 
 
5,265.5

Segment selling, general, administrative and development expense (2)
 
165.2

 
110.7

 
48.0

 
21.1

 
83.5

 
428.5

 
14.4

 
 
 
442.9

Segment operating profit
 
$
2,885.9

 
$
718.9

 
$
289.5

 
$
90.6

 
$
774.9

 
$
4,759.8

 
$
62.8

 
 
 
$
4,822.6

Stock-based compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
137.5

 
137.5

Other selling, general, administrative and development expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
156.1

 
156.1

Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2,110.8

 
2,110.8

Other expense (3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,263.6

 
1,263.6

Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
1,154.6

Capital expenditures (4)
 
$
376.9

 
$
101.0

 
$
212.5

 
$
20.2

 
$
220.7

 
$
931.3

 
$
—

 
$
13.9

 
$
945.2

_______________
(1)
Asia segment revenues include a net impact of $333.7 million as a result of the settlement payment received from Tata in the fourth quarter of 2018.
(2)
Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $3.3 million and $134.2 million, respectively.
(3)
Primarily includes interest expense and $394.0 million in impairment charges.
(4)
Includes $32.0 million of capital lease payments included in Repayments of notes payable, credit facilities, term loan, senior notes, secured debt and capital leases in the cash flows from financing activities in the Company’s consolidated statements of cash flows.
 
 
Property
 
Total 
Property
 

Services
 
Other
 
Total
Year ended December 31, 2017
 
U.S.
 
Asia
 
Africa
 
Europe
 
Latin America
 
Segment revenues
 
$
3,605.7

 
$
1,164.4

 
$
503.6

 
$
122.6

 
$
1,169.6

 
$
6,565.9

 
$
98.0

 
 
 
$
6,663.9

Segment operating expenses (1)
 
746.5

 
649.0

 
212.9

 
25.4

 
386.1

 
2,019.9

 
33.8

 
 
 
2,053.7

Interest income, TV Azteca, net
 
—

 
—

 
—

 
—

 
10.8

 
10.8

 
—

 
 
 
10.8

Segment gross margin
 
2,859.2

 
515.4

 
290.7

 
97.2

 
794.3

 
4,556.8

 
64.2

 
 
 
4,621.0

Segment selling, general, administrative and development expense (1)
 
151.4

 
82.4

 
47.3

 
20.6

 
77.5

 
379.2

 
13.7

 
 
 
392.9

Segment operating profit
 
$
2,707.8

 
$
433.0

 
$
243.4

 
$
76.6

 
$
716.8

 
$
4,177.6

 
$
50.5

 
 
 
$
4,228.1

Stock-based compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
108.5

 
108.5

Other selling, general, administrative and development expense
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
138.5

 
138.5

Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,715.9

 
1,715.9

Other expense (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1,009.1

 
1,009.1

Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
1,256.1

Capital expenditures (3)
 
$
360.6

 
$
118.0

 
$
124.1

 
$
17.6

 
$
197.4

 
$
817.7

 
$
—

 
$
17.7

 
$
835.4


_______________
(1)
Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $2.9 million and $105.6 million, respectively.
(2)
Primarily includes interest expense.
(3)
Includes $31.8 million of capital lease payments included in Repayments of notes payable, credit facilities, term loan, senior notes, secured debt and capital leases in the cash flows from financing activities in the Company’s consolidated statements of cash flows.
Reconciliation of assets from segments to consolidated
Additional information relating to the total assets of the Company’s operating segments is as follows for the years ended December 31,: 
 
2019 (1)
 
2018
 
2017
U.S. property
$
22,624.6

 
$
18,782.0

 
$
19,032.6

Asia property (2)
5,307.8

 
4,938.8

 
4,770.8

Africa property (2)
4,711.1

 
1,929.7

 
1,673.4

Europe property (2)
1,535.3

 
1,438.1

 
1,540.2

Latin America property (2)
8,125.5

 
5,594.7

 
5,868.4

Services
26.8

 
46.3

 
42.3

Other (3)
470.5

 
280.8

 
286.6

Total assets
$
42,801.6

 
$
33,010.4

 
$
33,214.3

_______________
(1)
Total assets in each of the Company’s property segments includes the Right-of-use asset recognized in connection with the Company’s adoption of the new lease accounting standard.
(2)
Balances are translated at the applicable period end exchange rate, which may impact comparability between periods.
(3)
Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts that have not been allocated to specific segments.
Schedule of disclosure on geographic areas, long-lived assets
Summarized geographic information related to the Company’s operating revenues for the years ended December 31, 2019, 2018 and 2017 and long-lived assets as of December 31, 2019 and 2018 is as follows:
 
2019
 
2018
 
2017
Operating Revenues:
 
 
 
 
 
United States
$
4,304.1

 
$
3,947.5

 
$
3,703.7

Asia (1):
 
 
 
 
 
India
1,217.0

 
1,540.5

 
1,164.4

Africa (1):
 
 
 
 
 
Burkina Faso (2)
—

 
—

 
—

Ghana
124.3

 
125.4

 
122.9

Kenya
27.3

 
7.0

 
—

Niger (2)
—

 
—

 
—

Nigeria
229.9

 
220.7

 
213.9

South Africa
129.1

 
125.3

 
106.5

Uganda
73.3

 
67.1

 
60.3

Europe (1):
 
 
 
 
 
France
68.0

 
72.7

 
59.5

Germany
66.6

 
69.1

 
63.1

Latin America (1):
 
 
 
 
 
Argentina
17.3

 
16.0

 
15.9

Brazil
605.5

 
595.5

 
620.1

Chile
43.3

 
44.2

 
40.4

Colombia
102.1

 
103.8

 
89.3

Costa Rica
21.1

 
18.4

 
19.4

Mexico
515.3

 
456.5

 
364.3

Paraguay
12.6

 
10.4

 
2.7

Peru
23.5

 
20.0

 
17.5

Total International
3,276.2

 
3,492.6

 
2,960.2

Total operating revenues
$
7,580.3

 
$
7,440.1

 
$
6,663.9

_______________
(1)
Balances are translated at the applicable exchange rate, which may impact comparability between periods.
(2)
The Company launched operations in Burkina Faso and Niger through the Eaton Towers Acquisition, which closed on December 31, 2019.
 
2019
 
2018
Long-Lived Assets (1):
 
 
 
United States
$
16,578.7

 
$
16,543.7

Asia (2):
 
 
 
India
3,708.8

 
3,947.8

Africa (2):
 
 
 
Burkina Faso
275.3

 
—

Ghana
671.0

 
159.2

Kenya
761.7

 
190.0

Niger
199.8

 
—

Nigeria
648.6

 
606.5

South Africa
409.4

 
342.5

Uganda
847.3

 
138.7

Europe (2):
 
 
 
France
917.1

 
963.8

Germany
357.3

 
388.5

Latin America (2):
 
 
 
Argentina
100.0

 
81.6

Brazil
2,138.4

 
2,288.1

Chile
437.6

 
129.7

Colombia
375.2

 
381.6

Costa Rica
124.1

 
119.1

Mexico
1,524.9

 
1,421.3

Paraguay
111.3

 
107.4

Peru
394.6

 
113.8

Total International
14,002.4

 
11,379.6

Total long-lived assets
$
30,581.1

 
$
27,923.3

_______________
(1)
Includes Property and equipment, net, Goodwill and Other intangible assets, net.
(2)
Balances are translated at the applicable period end exchange rate, which may impact comparability between periods.
Schedule of revenue by major customers
The following tenants within the property and services segments individually accounted for 10% or more of the Company’s consolidated operating revenues for the years ended December 31,:
 
2019
 
2018
 
2017
AT&T
22
%
 
19
%
 
19
%
Verizon Wireless
15
%
 
15
%
 
16
%
T-Mobile
10
%
 
9
%
 
9
%