Restatement of previously issued financial statements Consolidated Balance Sheet (Tables)

3 Months Ended

12 Months Ended

Sep. 30, 2019

Jun. 30, 2019

Sep. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Restatement of Financials [Text Block]

Restatement of Previously Issued Consolidated Financial Statements

In connection with the filing of its Form 10-K, CCIC corrected certain historical errors related to the timing of revenue recognition for its tower installation services. Specifically, CCIC determined that its historical practice of recognizing the full transaction price as service revenues upon completion of an installation was not acceptable under GAAP. Instead, a portion of the transaction price for CCIC's tower installation services, specifically the amounts associated with permanent improvements recorded as fixed assets, represents a lease component for GAAP purposes and should be recognized by CCIC as site rental revenues on a ratable basis over the associated estimated lease term.

CCIC, through its wholly owned subsidiary, offers certain installation and other construction-related services to tenants on the towers owned by CCIC's subsidiaries (including to tenants on the Company's towers). That business is separate from the operations of the Company, and the Company (1) is not party to such transactions and (2) does not receive any cash associated with such transactions. However, when CCIC is engaged by, and performs an installation or other activity for, a tenant that is locating or located on the Company's towers, and such transaction results in (1) enhancing a tower in connection with a new tenant installing equipment on the tower for the first time or as part of subsequent equipment augmentations or (2) modifying the structure of a tower to accommodate the additional tenant,the Company records any permanent improvement that is made on its tower site as a fixed asset. Historically, in connection with recording such permanent improvements as fixed assets on its financial statements, the Company would also record a corresponding amount as a capital contribution from CCIC.

The Company has determined that, despite the Company not receiving any cash, an amount equal to the lease component as a result of such installation and other construction-related services should be recorded on the consolidated financial statements as deferred revenue, and then amortized as revenues on a ratable basis over the length of the tenants’ associated estimated lease term.

Due to this determination, the Company has restated its financial statements for the years ended December 31, 2018 and 2017, including each of the unaudited condensed consolidated financial statements for the quarterly and year-to-date periods in the year ended December 31, 2018 and first three quarters for the year ended December 31, 2019.

In addition to the determination discussed above, the Company has also determined that errors existed related to its accounting for obligations to perform asset retirement activities pursuant to its ground lease and easement agreements. Specifically, the Company should not have recorded asset retirement obligations for its Sprint Sites, as the associated estimated retirement would occur beyond the period for which the Company has a contract term to these sites. The correction of the errors related to the Company's accounting for obligations to perform asset retirement activities resulted in (1) decreases to "Property and equipment, net" and "Other long-term liabilities" of $4.6 million and $22.6 million, respectively, and a corresponding net increase to "Member's equity" of $18.0 million on the Company's consolidated balance sheet as of December 31, 2018, and (2) a decrease to "Depreciation, amortization, and accretion" on the Company's consolidated statement of operations of $2.4 million and $2.7 million for the years ended December 31, 2018 and 2017, respectively.

The restatement also affects periods prior to 2017, the cumulative effect of which is reflected as an adjustment to opening "Member's equity" as of January 1, 2017. The adjustments to correct the historical errors described above are referred to herein as the "Restatement Adjustments." In addition to the Restatement Adjustments, the Company has also made other adjustments to the financial statements referenced above to correct errors that were not material to its consolidated financial statements. Such immaterial adjustments are related to a revision in the presentation of certain tower installation activities from a gross basis to a net basis, including the associated removal of certain amounts historically categorized as capital expenditures. Collectively, the Company refers to the Restatement Adjustments and other adjustments as "Historical Adjustments."

The following tables summarize the effects of the Historical Adjustments on the Company’s restated consolidated balance sheet as of December 31, 2018 and its restated consolidated statement of operations, restated consolidated statement of cash flows and restated consolidated statement of changes in member's equity for the years ended December 31, 2018 and 2017. In addition to the restatement of the financial statements, certain historical information within the notes to the consolidated financial statements has been restated to reflect the correction of the Historical Adjustments.

The Restatement Adjustments in the tables below reflect the impact of (1) allocating an amount equal to the lease component as a result of such installation and other construction-related services on the consolidated financial statements as deferred revenue, and then amortizing those amounts as amortization of tower installations and modifications on a ratable basis over the length of the tenants’ associated estimated lease term and (2) correcting errors related to the Company's accounting for obligations to perform asset retirement activities.

Consolidated Balance Sheet

	December 31, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,017,767	$	(4,584	)	$	(2,732	)	$	1,010,451
Total assets	3,621,436		(4,584		)	(2,732		)	3,614,120
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	12,533		47,233			—			59,766
Total current liabilities	31,458		47,233			—			78,691
Other long-term liabilities(a)	50,108		159,244			—			209,352
Total liabilities	1,188,445		206,477			—			1,394,922
Member's equity:
Member's equity	2,432,991		(211,061		)	(2,732		)	2,219,198
Total member's equity	2,432,991		(211,061		)	(2,732		)	2,219,198
Total liabilities and equity	$	3,621,436	$	(4,584	)	$	(2,732	)	$	3,614,120

(a) Reflects the recording of deferred revenues in connection with the CCIC transactions that result in permanent improvements to the Company's towers described above. The Company receives no cash from, and is not party to, such transactions.

Consolidated Statement of Operations

	Year Ended December 31, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Site rental revenues:
Revenues from tenant contracts	$	659,490	$	—		$	—		$	659,490
Amortization of tower installations and modifications(a)	—		43,491			—			43,491
Total site rental revenues	659,490		43,491			—			702,981
Operating expenses:
Depreciation, amortization and accretion	210,072		(2,367		)	$	(177	)	207,528
Total operating expenses	449,914		(2,367		)	(177		)	447,370
Operating income (loss)	209,576		45,858			177			255,611
Income (loss) before income taxes	169,898		45,858			177			215,933
Net income (loss)	$	169,482	$	45,858		$	177		$	215,517

	Year Ended December 31, 2017
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Site rental revenues:
Revenues from tenant contracts	$	616,897	$	—		$	—		$	616,897
Amortization of tower installations and modifications(a)	—		38,435			—			38,435
Total site rental revenues	616,897		38,435			—			655,332
Operating expenses:
Depreciation, amortization and accretion	210,607		(2,710		)	(133		)	207,764
Total operating expenses	444,153		(2,710		)	(133		)	441,310
Operating income (loss)	172,744		41,145			133			214,022
Income (loss) before income taxes	133,157		41,145			133			174,435
Net income (loss)	$	133,771	$	41,145		$	133		$	175,049

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions that result in permanent improvements to the Company's towers described above. The Company receives no cash from, and is not party to, such transactions

Consolidated Statement of Cash Flows

	Year Ended December 31, 2018
	As Reported			Restatement Adjustments			Other Adjustments			As Restated
Cash flows from operating activities(a):
Net income (loss)	$	169,482		$	45,858		$	177		$	215,517
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion	210,072			(2,367		)	(177		)	207,528
Increase (decrease) in other liabilities	4,346			11,302			—			15,648
Net cash provided by (used for) operating activities	372,048			54,793			—			426,841
Cash flows from investing activities(a):
Capital expenditures	(71,150		)	—			221			(70,929		)
Net cash provided by (used for) investing activities	(71,150		)	—			221			(70,929		)
Cash flows from financing activities(a):
Distributions to member	(312,962		)	(54,793		)	(221		)	(367,976		)
Net cash provided by (used for) financing activities	(312,962		)	(54,793		)	(221		)	(367,976		)
Net increase (decrease) in cash and cash equivalents	(12,064		)	—			—			(12,064		)
Cash and cash equivalents at beginning of year	30,771			—			—			30,771
Cash and cash equivalents at end of year	$	18,707		$	—		$	—		$	18,707

(a) The Company receives no cash from, and is not party to, the CCIC transactions described above. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and as such, the amounts have been recorded as fixed assets (in the form of permanent improvements) and deferred revenues.

	Year Ended December 31, 2017
	As Reported			Restatement Adjustments			Other Adjustments			As Restated
Cash flows from operating activities(a):
Net income (loss)	$	133,771		$	41,145		$	133		$	175,049
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion	210,607			(2,710		)	(133		)	207,764
Increase (decrease) in other liabilities	1,964			(1,185		)	—			779
Net cash provided by (used for) operating activities	357,317			37,250			—			394,567
Cash flows from investing activities(a):
Capital expenditures	(49,551		)	—			1,239			(48,312		)
Net cash provided by (used for) investing activities	(49,551		)	—			1,239			(48,312		)
Cash flows from financing activities(a):
Distributions to member	(296,545		)	(37,250		)	(1,239		)	(335,034		)
Net cash provided by (used for) financing activities	(296,545		)	(37,250		)	(1,239		)	(335,034		)
Net increase (decrease) in cash and cash equivalents	11,221			—			—			11,221
Cash and cash equivalents at beginning of year	19,550			—			—			19,550
Cash and cash equivalents at end of year	$	30,771		$	—		$	—		$	30,771

(a) The Company receives no cash from, and is not party to, the CCIC transactions described above. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and as such, the amounts have been recorded as fixed assets (in the form of permanent improvements) and deferred revenues.

Consolidated Statement of Changes in Member's Equity

	December 31, 2016
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Member's equity	$	2,739,245	$	(206,021	)	$	(1,582	)	$	2,531,642
Total member's equity	$	2,739,245	$	(206,021	)	$	(1,582	)	$	2,531,642
	December 31, 2017
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Member's equity	$	2,576,471	$	(202,126	)	$	(2,688	)	$	2,371,657
Total member's equity	$	2,576,471	$	(202,126	)	$	(2,688	)	$	2,371,657
	December 31, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Member's equity	$	2,432,991	$	(211,061	)	$	(2,732	)	$	2,219,198
Total member's equity	$	2,432,991	$	(211,061	)	$	(2,732	)	$	2,219,198

Condensed Balance Sheet [Table Text Block]

es illustrate the Historical Adjustments, where applicable, on the Company’s condensed consolidated balance sheet for each period presented. Only line items impacted by the Historical Adjustments are presented, and as such, components will not sum to totals.

	September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,015,632	$	(4,140	)	$	(2,790	)	$	1,008,702
Total assets	4,615,994		(4,140		)	(2,790		)	4,609,064
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	13,390		53,543			—			66,933
Total current liabilities	95,359		53,543			—			148,902
Other long-term liabilities(a)	35,618		165,030			—			200,648
Total liabilities	2,272,787		218,573			—			2,491,360
Member's equity:
Member's equity	2,343,207		(222,713		)	(2,790		)	2,117,704
Total member's equity	2,343,207		(222,713		)	(2,790		)	2,117,704
Total liabilities and equity	$	4,615,994	$	(4,140	)	$	(2,790	)	$	4,609,064

	June 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,016,024	$	(4,288	)	$	(2,745	)	$	1,008,991
Total assets	4,612,421		(4,288		)	(2,745		)	4,605,388
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	12,347		51,626			—			63,973
Total current liabilities	86,248		51,626			—			137,874
Other long-term liabilities(a)	35,001		162,240			—			197,241
Total liabilities	2,234,665		213,866			—			2,448,531
Member's equity:
Member's equity	2,377,756		(218,154		)	(2,745		)	2,156,857
Total member's equity	2,377,756		(218,154		)	(2,745		)	2,156,857
Total liabilities and equity	$	4,612,421	$	(4,288	)	$	(2,745	)	$	4,605,388

(a) Reflects the recording of deferred revenues in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers . The Company receives no cash from, and is not party to, such transactions.

	March 31, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,012,769	$	(4,436	)	$	(2,754	)	$	1,005,579
Total assets	4,618,698		(4,436		)	(2,754		)	4,611,508
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	12,436		49,334			—			61,770
Total current liabilities	97,928		49,334			—			147,262
Other long-term liabilities(a)	34,342		158,784			—			193,126
Total liabilities	2,232,026		208,118			—			2,440,144
Member's equity:
Member's equity	2,386,672		(212,554		)	(2,754		)	2,171,364
Total member's equity	2,386,672		(212,554		)	(2,754		)	2,171,364
Total liabilities and equity	$	4,618,698	$	(4,436	)	$	(2,754	)	$	4,611,508

	September 30, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,021,517	$	(4,740	)	$	(2,749	)	$	1,014,028
Total assets	3,658,618		(4,740		)	(2,749		)	3,651,129
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	11,709		46,056			—			57,765
Total current liabilities	40,617		46,056			—			86,673
Above-market leases and other long-term liabilities(a)	49,936		157,334			—			207,270
Total liabilities	1,196,110		203,390			—			1,399,500
Member's equity:
Member's equity	2,462,508		(208,130		)	(2,749		)	2,251,629
Total member's equity	2,462,508		(208,130		)	(2,749		)	2,251,629
Total liabilities and equity	$	3,658,618	$	(4,740	)	$	(2,749	)	$	3,651,129

	June 30, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,025,250	$	(4,897	)	$	(2,715	)	$	1,017,638
Total assets	3,684,372		(4,897		)	(2,715		)	3,676,760
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	12,043		42,902			—			54,945
Total current liabilities	32,196		42,902			—			75,098
Above-market leases and other long-term liabilities(a)	49,688		156,147			—			205,835
Total liabilities	1,185,588		199,049			—			1,384,637
Member's equity:
Member's equity	2,498,784		(203,946		)	(2,715		)	2,292,123
Total member's equity	2,498,784		(203,946		)	(2,715		)	2,292,123
Total liabilities and equity	$	3,684,372	$	(4,897	)	$	(2,715	)	$	3,676,760

(a) Reflects the recording of deferred revenues in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers . The Company receives no cash from, and is not party to, such transactions.

	March 31, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,032,214	$	(5,054	)	$	(2,700	)	$	1,024,460
Total assets	3,715,390		(5,054		)	(2,700		)	3,707,636
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	11,929		40,926			—			52,855
Total current liabilities	44,004		40,926			—			84,930
Above-market leases and other long-term liabilities(a)	49,456		156,685			—			206,141
Total liabilities	1,195,509		197,611			—			1,393,120
Member's equity:
Member's equity	2,519,881		(202,665		)	(2,700		)	2,314,516
Total member's equity	2,519,881		(202,665		)	(2,700		)	2,314,516
Total liabilities and equity	$	3,715,390	$	(5,054	)	$	(2,700	)	$	3,707,636

(a) Reflects the recording of deferred revenues in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers . The Company receives no cash from, and is not party to, such transactions.

Condensed Consolidated Statement of Operations

	September 30, 2019						June 30, 2019						March 31, 2019
	Three Months Ended			Nine Months Ended			Three Months Ended			Six Months Ended			Three Months Ended
	(As Restated)
Site rental revenues:
Revenues from tenant contracts	$	171,745		$	507,256		$	168,189		$	335,511		$	167,322
Amortization of tower installations and modifications(a)	13,436			38,371			12,764			24,935			12,171
Total site rental revenues	185,181			545,627			180,953			360,446			179,493
Operating expenses:
Site rental costs of operations—third parties(b)	38,406			114,212			38,524			75,806			37,282
Site rental costs of operations—related parties(b)	10,880			32,210			10,721			21,330			10,609
Site rental costs of operations—total(b)	49,286			146,422			49,245			97,136			47,891
Management fee—related party	12,611			37,238			12,503			24,627			12,124
Asset write-down charges	—			375			185			375			190
Depreciation, amortization and accretion	51,881			155,087			51,626			103,206			51,580
Total operating expenses	113,778			339,122			113,559			225,344			111,785
Operating income (loss)	71,403			206,505			67,394			135,102			67,708
Interest expense and amortization of deferred financing costs	(9,969		)	(29,906		)	(9,968		)	(19,937		)	(9,969		)
Other income (expense)	160			445			288			285			(3		)
Income (loss) before income taxes	61,594			177,044			57,714			115,450			57,736
Benefit (provision) for income taxes	(102		)	(307		)	(107		)	(205		)	(98		)
Net income (loss)	$	61,492		$	176,737		$	57,607		$	115,245		$	57,638

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions

(b) Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee.

	December 31, 2018			September 30, 2018						June 30, 2018						March 31, 2018
	Three Months Ended			Three Months Ended			Nine Months Ended			Three Months Ended			Six Months Ended			Three Months Ended
	(As Restated)
Site rental revenues:
Revenues from tenant contracts	$	167,332		$	165,108		$	492,158		$	164,056		$	327,050		$	162,994
Amortization of tower installations and modifications(a)	11,974			10,846			31,517			10,604			20,671			10,067
Total site rental revenues	179,306			175,954			523,675			174,660			347,721			173,061
Operating expenses:
Site rental costs of operations—third parties(b)	36,270			37,616			112,469			38,355			75,862			37,507
Site rental costs of operations—related parties(b)	11,512			10,163			30,478			9,700			19,306			9,606
Site rental costs of operations—total(b)	47,782			47,779			142,947			48,055			95,168			47,113
Management fee—related party	12,293			12,207			36,227			12,031			24,020			11,989
Asset write-down charges	249			—			344			—			344			344
Depreciation, amortization and accretion	51,707			51,684			155,821			52,083			104,137			52,054
Total operating expenses	112,031			111,670			335,339			112,169			223,669			111,500
Operating income (loss)	67,275			64,284			188,336			62,491			124,052			61,561
Interest expense and amortization of deferred financing costs	(9,968		)	(9,969		)	(29,906		)	(9,968		)	(19,937		)	(9,969		)
Other income (expense)	133			90			63			40			(27		)	(67		)
Income (loss) before income taxes	57,440			54,405			158,493			52,563			104,088			51,525
Benefit (provision) for income taxes	(137		)	(93		)	(279		)	(93		)	(186		)	(93		)
Net income (loss)	$	57,303		$	54,312		$	158,214		$	52,470		$	103,902		$	51,432

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions

(b)

Exclusive of depreciation, amortization and accretion shown separately and

(a)

Reflects the recording of deferred revenues in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers . The Company receives no cash from, and is not party to, such transactions.

	March 31, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,032,214	$	(5,054	)	$	(2,700	)	$	1,024,460
Total assets	3,715,390		(5,054		)	(2,700		)	3,707,636
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	11,929		40,926			—			52,855
Total current liabilities	44,004		40,926			—			84,930
Above-market leases and other long-term liabilities(a)	49,456		156,685			—			206,141
Total liabilities	1,195,509		197,611			—			1,393,120
Member's equity:
Member's equity	2,519,881		(202,665		)	(2,700		)	2,314,516
Total member's equity	2,519,881		(202,665		)	(2,700		)	2,314,516
Total liabilities and equity	$	3,715,390	$	(5,054	)	$	(2,700	)	$	3,707,636

(a) Reflects the recording of deferred revenues in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers . The Company receives no cash from, and is not party to, such transactions.

Condensed Consolidated Statement of Operations

	September 30, 2019						June 30, 2019						March 31, 2019
	Three Months Ended			Nine Months Ended			Three Months Ended			Six Months Ended			Three Months Ended
	(As Restated)
Site rental revenues:
Revenues from tenant contracts	$	171,745		$	507,256		$	168,189		$	335,511		$	167,322
Amortization of tower installations and modifications(a)	13,436			38,371			12,764			24,935			12,171
Total site rental revenues	185,181			545,627			180,953			360,446			179,493
Operating expenses:
Site rental costs of operations—third parties(b)	38,406			114,212			38,524			75,806			37,282
Site rental costs of operations—related parties(b)	10,880			32,210			10,721			21,330			10,609
Site rental costs of operations—total(b)	49,286			146,422			49,245			97,136			47,891
Management fee—related party	12,611			37,238			12,503			24,627			12,124
Asset write-down charges	—			375			185			375			190
Depreciation, amortization and accretion	51,881			155,087			51,626			103,206			51,580
Total operating expenses	113,778			339,122			113,559			225,344			111,785
Operating income (loss)	71,403			206,505			67,394			135,102			67,708
Interest expense and amortization of deferred financing costs	(9,969		)	(29,906		)	(9,968		)	(19,937		)	(9,969		)
Other income (expense)	160			445			288			285			(3		)
Income (loss) before income taxes	61,594			177,044			57,714			115,450			57,736
Benefit (provision) for income taxes	(102		)	(307		)	(107		)	(205		)	(98		)
Net income (loss)	$	61,492		$	176,737		$	57,607		$	115,245		$	57,638

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions

(b) Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee.

	December 31, 2018			September 30, 2018						June 30, 2018						March 31, 2018
	Three Months Ended			Three Months Ended			Nine Months Ended			Three Months Ended			Six Months Ended			Three Months Ended
	(As Restated)
Site rental revenues:
Revenues from tenant contracts	$	167,332		$	165,108		$	492,158		$	164,056		$	327,050		$	162,994
Amortization of tower installations and modifications(a)	11,974			10,846			31,517			10,604			20,671			10,067
Total site rental revenues	179,306			175,954			523,675			174,660			347,721			173,061
Operating expenses:
Site rental costs of operations—third parties(b)	36,270			37,616			112,469			38,355			75,862			37,507
Site rental costs of operations—related parties(b)	11,512			10,163			30,478			9,700			19,306			9,606
Site rental costs of operations—total(b)	47,782			47,779			142,947			48,055			95,168			47,113
Management fee—related party	12,293			12,207			36,227			12,031			24,020			11,989
Asset write-down charges	249			—			344			—			344			344
Depreciation, amortization and accretion	51,707			51,684			155,821			52,083			104,137			52,054
Total operating expenses	112,031			111,670			335,339			112,169			223,669			111,500
Operating income (loss)	67,275			64,284			188,336			62,491			124,052			61,561
Interest expense and amortization of deferred financing costs	(9,968		)	(9,969		)	(29,906		)	(9,968		)	(19,937		)	(9,969		)
Other income (expense)	133			90			63			40			(27		)	(67		)
Income (loss) before income taxes	57,440			54,405			158,493			52,563			104,088			51,525
Benefit (provision) for income taxes	(137		)	(93		)	(279		)	(93		)	(186		)	(93		)
Net income (loss)	$	57,303		$	54,312		$	158,214		$	52,470		$	103,902		$	51,432

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions

(b)

Exclusive of depreciation, amortization and accretion shown separately and certain indire

(a)

Reflects the recording of deferred revenues in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers . The Company receives no cash from, and is not party to, such transactions.

Condensed Consolidated Statement of Operations

	September 30, 2019						June 30, 2019						March 31, 2019
	Three Months Ended			Nine Months Ended			Three Months Ended			Six Months Ended			Three Months Ended
	(As Restated)
Site rental revenues:
Revenues from tenant contracts	$	171,745		$	507,256		$	168,189		$	335,511		$	167,322
Amortization of tower installations and modifications(a)	13,436			38,371			12,764			24,935			12,171
Total site rental revenues	185,181			545,627			180,953			360,446			179,493
Operating expenses:
Site rental costs of operations—third parties(b)	38,406			114,212			38,524			75,806			37,282
Site rental costs of operations—related parties(b)	10,880			32,210			10,721			21,330			10,609
Site rental costs of operations—total(b)	49,286			146,422			49,245			97,136			47,891
Management fee—related party	12,611			37,238			12,503			24,627			12,124
Asset write-down charges	—			375			185			375			190
Depreciation, amortization and accretion	51,881			155,087			51,626			103,206			51,580
Total operating expenses	113,778			339,122			113,559			225,344			111,785
Operating income (loss)	71,403			206,505			67,394			135,102			67,708
Interest expense and amortization of deferred financing costs	(9,969		)	(29,906		)	(9,968		)	(19,937		)	(9,969		)
Other income (expense)	160			445			288			285			(3		)
Income (loss) before income taxes	61,594			177,044			57,714			115,450			57,736
Benefit (provision) for income taxes	(102		)	(307		)	(107		)	(205		)	(98		)
Net income (loss)	$	61,492		$	176,737		$	57,607		$	115,245		$	57,638

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions

(b) Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee.

	December 31, 2018			September 30, 2018						June 30, 2018						March 31, 2018
	Three Months Ended			Three Months Ended			Nine Months Ended			Three Months Ended			Six Months Ended			Three Months Ended
	(As Restated)
Site rental revenues:
Revenues from tenant contracts	$	167,332		$	165,108		$	492,158		$	164,056		$	327,050		$	162,994
Amortization of tower installations and modifications(a)	11,974			10,846			31,517			10,604			20,671			10,067
Total site rental revenues	179,306			175,954			523,675			174,660			347,721			173,061
Operating expenses:
Site rental costs of operations—third parties(b)	36,270			37,616			112,469			38,355			75,862			37,507
Site rental costs of operations—related parties(b)	11,512			10,163			30,478			9,700			19,306			9,606
Site rental costs of operations—total(b)	47,782			47,779			142,947			48,055			95,168			47,113
Management fee—related party	12,293			12,207			36,227			12,031			24,020			11,989
Asset write-down charges	249			—			344			—			344			344
Depreciation, amortization and accretion	51,707			51,684			155,821			52,083			104,137			52,054
Total operating expenses	112,031			111,670			335,339			112,169			223,669			111,500
Operating income (loss)	67,275			64,284			188,336			62,491			124,052			61,561
Interest expense and amortization of deferred financing costs	(9,968		)	(9,969		)	(29,906		)	(9,968		)	(19,937		)	(9,969		)
Other income (expense)	133			90			63			40			(27		)	(67		)
Income (loss) before income taxes	57,440			54,405			158,493			52,563			104,088			51,525
Benefit (provision) for income taxes	(137		)	(93		)	(279		)	(93		)	(186		)	(93		)
Net income (loss)	$	57,303		$	54,312		$	158,214		$	52,470		$	103,902		$	51,432

(a) Represents the amortization of deferred revenues recorded in connection with the CCIC transactions described in note 2 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions

(b)

Exclusive of depreciation, amortization and accretion shown separately and certain indirect cost

Consolidated Balance Sheet

	December 31, 2018
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	1,017,767	$	(4,584	)	$	(2,732	)	$	1,010,451
Total assets	3,621,436		(4,584		)	(2,732		)	3,614,120
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues(a)	12,533		47,233			—			59,766
Total current liabilities	31,458		47,233			—			78,691
Other long-term liabilities(a)	50,108		159,244			—			209,352
Total liabilities	1,188,445		206,477			—			1,394,922
Member's equity:
Member's equity	2,432,991		(211,061		)	(2,732		)	2,219,198
Total member's equity	2,432,991		(211,061		)	(2,732		)	2,219,198
Total liabilities and equity	$	3,621,436	$	(4,584	)	$	(2,732	)	$	3,614,120

(a)

Reflects the recording of deferred revenues in connection with the CCIC transactions that result in permanent improvements to the Company's towers described above. The Company receives no cash from, and is not party to, such transactions.