Concentration of Credit Risk

12 Months Ended

Dec. 31, 2019

Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and trade receivables. The Company mitigates its risk with respect to cash and cash equivalents by maintaining such deposits at high credit quality financial institutions and monitoring the credit ratings of those institutions. See note 3.

The Company derives the largest portion of its revenues from tenants in the wireless industry. The Company also has a concentration in its volume of business with Sprint, AT&T, T-Mobile and Verizon Wireless that accounts for a significant portion of the Company's revenues, receivables and deferred site rental receivables. The Company mitigates its concentrations of credit risk with respect to trade receivables by actively monitoring the creditworthiness of its tenants, the use of tenant leases with contractually determinable payment terms or proactive management of past due balances.

Major Tenants

The following table summarizes the percentage of the consolidated revenues for those tenants accounting for more than 10% of the consolidated revenues. The table below gives effect to the Historical Adjustments, as discussed in note 2.



	Years Ended December 31,
	2019		2018		2017
			(As Restated)
Sprint	33	%	35	%	36	%
AT&T	22	%	20	%	20	%
T-Mobile	20	%	19	%	19	%
Verizon Wireless	15	%	15	%	14	%
Total	90	%	89	%	89	%