v2.4.0.8

Operating Segments and Concentrations of Credit Risk | 12 Months Ended
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Dec. 31, 2013
Operating Segments and Concentrations of Credit Risk [Abstract] |
Operating Segments and Concentrations of Credit Risks | Operating Segments and Concentrations of Credit Risk Operating Segments The Company's reportable operating segments are (1) CCUSA, consisting of the Company's U.S. operations, and (2) CCAL, the Company's Australian operations. Financial results for the Company are reported to management and the board of directors in this manner. The measurement of profit or loss currently used by management to evaluate the results of operations for the Company and its operating segments is earnings before interest, taxes, depreciation, amortization, and accretion, as adjusted ("Adjusted EBITDA"). The Company defines Adjusted EBITDA as net income (loss) plus restructuring charges (credits), asset write-down charges, acquisition and integration costs, depreciation, amortization and accretion, amortization of prepaid lease purchase price adjustments, interest expense and amortization of deferred financing costs, gains (losses) on retirement of long-term obligations, net gain (loss) on interest rate swaps, impairment of available-for-sale securities, interest income, other income (expense), benefit (provision) for income taxes, cumulative effect of change in accounting principle, income (loss) from discontinued operations, and stock-based compensation expense. Adjusted EBITDA is not intended as an alternative measure of operating results or cash flows from operations (as determined in accordance with GAAP), and the Company's measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies. There are no significant revenues resulting from transactions between the Company's operating segments. Inter-company borrowings and related interest between segments are eliminated to reconcile segment results and assets to the consolidated basis. Noncontrolling interests primarily represent the noncontrolling shareholders' 22.4% interests in CCAL, the Company's 77.6% majority-owned subsidiary. The financial results for the Company's operating segments are as follows:
| Year Ended December 31, 2013 |  | Year Ended December 31, 2012 |  | Year Ended December 31, 2011
| CCUSA |  | CCAL |  | Elim(a) |  | Consolidated Total |  | CCUSA |  | CCAL |  | Elim(a) |  | Consolidated Total |  | CCUSA |  | CCAL |  | Elim(a) |  | Consolidated Total
Net revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Site rental | $ | 2,371,380 |  |  | $ | 132,240 |  |  | $ | — |  |  | $ | 2,503,620 |  |  | $ | 2,001,049 |  |  | $ | 123,141 |  |  | $ | — |  |  | $ | 2,124,190 |  |  | $ | 1,744,993 |  |  | $ | 108,557 |  |  | $ | — |  |  | $ | 1,853,550 |
Network services and other | 494,371 |  |  | 24,393 |  |  | — |  |  | 518,764 |  |  | 285,287 |  |  | 23,203 |  |  | — |  |  | 308,490 |  |  | 161,522 |  |  | 17,657 |  |  | — |  |  | 179,179 |
Net revenues | 2,865,751 |  |  | 156,633 |  |  | — |  |  | 3,022,384 |  |  | 2,286,336 |  |  | 146,344 |  |  | — |  |  | 2,432,680 |  |  | 1,906,515 |  |  | 126,214 |  |  | — |  |  | 2,032,729 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Costs of operations(b): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Site rental | 686,873 |  |  | 38,236 |  |  | — |  |  | 725,109 |  |  | 503,661 |  |  | 35,578 |  |  | — |  |  | 539,239 |  |  | 446,868 |  |  | 34,530 |  |  | — |  |  | 481,398 |
Network services and other | 304,144 |  |  | 17,543 |  |  | — |  |  | 321,687 |  |  | 173,762 |  |  | 15,988 |  |  | — |  |  | 189,750 |  |  | 96,057 |  |  | 10,930 |  |  | — |  |  | 106,987 |
General and administrative | 213,519 |  |  | 25,183 |  |  | — |  |  | 238,702 |  |  | 184,911 |  |  | 27,661 |  |  | — |  |  | 212,572 |  |  | 151,737 |  |  | 21,756 |  |  | — |  |  | 173,493 |
Asset write-down charges | 13,595 |  |  | 1,268 |  |  | — |  |  | 14,863 |  |  | 15,226 |  |  | 322 |  |  | — |  |  | 15,548 |  |  | 21,986 |  |  | 299 |  |  | — |  |  | 22,285 |
Acquisition and integration costs | 25,574 |  |  | 431 |  |  | — |  |  | 26,005 |  |  | 18,216 |  |  | 82 |  |  | — |  |  | 18,298 |  |  | 3,310 |  |  | — |  |  | — |  |  | 3,310 |
Depreciation, amortization and accretion | 741,342 |  |  | 32,873 |  |  | — |  |  | 774,215 |  |  | 591,428 |  |  | 31,164 |  |  | — |  |  | 622,592 |  |  | 522,681 |  |  | 30,270 |  |  | — |  |  | 552,951 |
Total operating expenses | 1,985,047 |  |  | 115,534 |  |  | — |  |  | 2,100,581 |  |  | 1,487,204 |  |  | 110,795 |  |  | — |  |  | 1,597,999 |  |  | 1,242,639 |  |  | 97,785 |  |  | — |  |  | 1,340,424 |
Operating income (loss) | 880,704 |  |  | 41,099 |  |  | — |  |  | 921,803 |  |  | 799,132 |  |  | 35,549 |  |  | — |  |  | 834,681 |  |  | 663,876 |  |  | 28,429 |  |  | — |  |  | 692,305 |
Interest expense and amortization of deferred financing costs | (589,630 | ) |  | (16,545 | ) |  | 16,545 |  |  | (589,630 | ) |  | (601,031 | ) |  | (19,330 | ) |  | 19,317 |  |  | (601,044 | ) |  | (507,264 | ) |  | (22,974 | ) |  | 22,651 |  |  | (507,587 | )
Gains (losses) on retirement of long-term obligations | (37,127 | ) |  | — |  |  | — |  |  | (37,127 | ) |  | (131,974 | ) |  | — |  |  | — |  |  | (131,974 | ) |  | — |  |  | — |  |  | — |  |  | — |
Interest income | 956 |  |  | 399 |  |  | — |  |  | 1,355 |  |  | 4,089 |  |  | 467 |  |  | — |  |  | 4,556 |  |  | 187 |  |  | 479 |  |  | — |  |  | 666 |
Other income (expense) | 12,643 |  |  | 30 |  |  | (16,545 | ) |  | (3,872 | ) |  | 13,954 |  |  | (29 | ) |  | (19,317 | ) |  | (5,392 | ) |  | 17,048 |  |  | 26 |  |  | (22,651 | ) |  | (5,577 | )
Benefit (provision) for income taxes | (191,000 | ) |  | (7,628 | ) |  | — |  |  | (198,628 | ) |  | 60,144 |  |  | 39,917 |  |  | — |  |  | 100,061 |  |  | (6,126 | ) |  | (2,221 | ) |  | — |  |  | (8,347 | )
Net income (loss) | 76,546 |  |  | 17,355 |  |  | — |  |  | 93,901 |  |  | 144,314 |  |  | 56,574 |  |  | — |  |  | 200,888 |  |  | 167,721 |  |  | 3,739 |  |  | — |  |  | 171,460 |
Less: Net income (loss) attributable to the noncontrolling interest | — |  |  | 3,790 |  |  | — |  |  | 3,790 |  |  | (268 | ) |  | 12,572 |  |  | — |  |  | 12,304 |  |  | (348 | ) |  | 731 |  |  | — |  |  | 383 |
Net income (loss) attributable to CCIC stockholders | $ | 76,546 |  |  | $ | 13,565 |  |  | $ | — |  |  | $ | 90,111 |  |  | $ | 144,582 |  |  | $ | 44,002 |  |  | $ | — |  |  | $ | 188,584 |  |  | $ | 168,069 |  |  | $ | 3,008 |  |  | $ | — |  |  | $ | 171,077 |
Capital expenditures | $ | 534,809 |  |  | $ | 33,001 |  |  | $ | — |  |  | $ | 567,810 |  |  | $ | 419,980 |  |  | $ | 21,403 |  |  | $ | — |  |  | $ | 441,383 |  |  | $ | 333,862 |  |  | $ | 14,080 |  |  | $ | — |  |  | $ | 347,942 |
Total assets (at year end) | $ | 20,466,369 |  |  | $ | 411,679 |  |  | $ | (283,140 | ) |  | $ | 20,594,908 |  |  | $ | 15,969,084 |  |  | $ | 440,395 |  |  | $ | (320,770 | ) |  | $ | 16,088,709 |  |  |  |  |  |  |  |  |
Goodwill (at year end) | $ | 4,902,950 |  |  | $ | 13,476 |  |  | $ | — |  |  | $ | 4,916,426 |  |  | $ | 3,116,824 |  |  | $ | 3,133 |  |  | $ | — |  |  | $ | 3,119,957 |  |  |  |  |  |  |  |  |
(a) | Elimination of inter-company borrowings and related interest expense.
(b) | Exclusive of depreciation, amortization and accretion shown separately.
The following are reconciliations of net income (loss) to Adjusted EBITDA for the years ended December 31, 2013, 2012 and 2011:
| Year Ended December 31, 2013 |  | Year Ended December 31, 2012 |  | Year Ended December 31, 2011
| CCUSA |  | CCAL |  | Elim(a) |  | Consolidated Total |  | CCUSA |  | CCAL |  | Elim(a) |  | Consolidated Total |  | CCUSA |  | CCAL |  | Elim(a) |  | Consolidated Total
Net income (loss) | $ | 76,546 |  |  | $ | 17,355 |  |  | $ | — |  |  | $ | 93,901 |  |  | $ | 144,314 |  |  | $ | 56,574 |  |  | $ | — |  |  | $ | 200,888 |  |  | $ | 167,721 |  |  | $ | 3,739 |  |  | $ | — |  |  | $ | 171,460 |
Adjustments to increase (decrease) net income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset write-down charges | 13,595 |  |  | 1,268 |  |  | — |  |  | 14,863 |  |  | 15,226 |  |  | 322 |  |  | — |  |  | 15,548 |  |  | 21,986 |  |  | 299 |  |  | — |  |  | 22,285 |
Acquisition and integration costs | 25,574 |  |  | 431 |  |  | — |  |  | 26,005 |  |  | 18,216 |  |  | 82 |  |  | — |  |  | 18,298 |  |  | 3,310 |  |  | — |  |  | — |  |  | 3,310 |
Depreciation, amortization and accretion | 741,342 |  |  | 32,873 |  |  | — |  |  | 774,215 |  |  | 591,428 |  |  | 31,164 |  |  | — |  |  | 622,592 |  |  | 522,681 |  |  | 30,270 |  |  | — |  |  | 552,951 |
Amortization of prepaid lease purchase price adjustments | 15,473 |  |  | — |  |  | — |  |  | 15,473 |  |  | 14,166 |  |  | — |  |  | — |  |  | 14,166 |  |  | — |  |  | — |  |  | — |  |  | — |
Interest expense and amortization of deferred financing costs | 589,630 |  |  | 16,545 |  |  | (16,545 | ) |  | 589,630 |  |  | 601,031 |  |  | 19,330 |  |  | (19,317 | ) |  | 601,044 |  |  | 507,264 |  |  | 22,974 |  |  | (22,651 | ) |  | 507,587 |
Gains (losses) on retirement of long-term obligations | 37,127 |  |  | — |  |  | — |  |  | 37,127 |  |  | 131,974 |  |  | — |  |  | — |  |  | 131,974 |  |  | — |  |  | — |  |  | — |  |  | — |
Interest income | (956 | ) |  | (399 | ) |  | — |  |  | (1,355 | ) |  | (4,089 | ) |  | (467 | ) |  | — |  |  | (4,556 | ) |  | (187 | ) |  | (479 | ) |  | — |  |  | (666 | )
Other income (expense) | (12,643 | ) |  | (30 | ) |  | 16,545 |  |  | 3,872 |  |  | (13,954 | ) |  | 29 |  |  | 19,317 |  |  | 5,392 |  |  | (17,048 | ) |  | (26 | ) |  | 22,651 |  |  | 5,577 |
Benefit (provision) for income taxes | 191,000 |  |  | 7,628 |  |  | — |  |  | 198,628 |  |  | (60,144 | ) |  | (39,917 | ) |  | — |  |  | (100,061 | ) |  | 6,126 |  |  | 2,221 |  |  | — |  |  | 8,347 |
Stock-based compensation expense | 39,030 |  |  | 2,758 |  |  | — |  |  | 41,788 |  |  | 41,785 |  |  | 5,597 |  |  | — |  |  | 47,382 |  |  | 32,610 |  |  | 3,381 |  |  | — |  |  | 35,991 |
Adjusted EBITDA | $ | 1,715,718 |  |  | $ | 78,429 |  |  | $ | — |  |  | $ | 1,794,147 |  |  | $ | 1,479,953 |  |  | $ | 72,714 |  |  | $ | — |  |  | $ | 1,552,667 |  |  | $ | 1,244,463 |  |  | $ | 62,379 |  |  | $ | — |  |  | $ | 1,306,842 |
____________________
(a) | Elimination of inter-company borrowings and related interest expense.
Geographic Information A summary of net revenues by country, based on the location of the Company's subsidiaries, is as follows:
| Years Ended December 31,
| 2013 |  | 2012 |  | 2011
United States | $ | 2,862,397 |  |  | $ | 2,283,088 |  |  | $ | 1,902,536 |
Australia | 156,633 |  |  | 146,344 |  |  | 126,214 |
Other countries | 3,354 |  |  | 3,248 |  |  | 3,979 |
Total net revenues | $ | 3,022,384 |  |  | $ | 2,432,680 |  |  | $ | 2,032,729 |
A summary of long-lived assets (property and equipment, goodwill and other intangible assets) by country of location is as follows:
| December 31,
| 2013 |  | 2012
United States | $ | 17,670,665 |  |  | $ | 12,730,337 |
Australia | 235,493 |  |  | 232,099 |
Other countries | 15,810 |  |  | 16,748 |
Total long-lived assets | $ | 17,921,968 |  |  | $ | 12,979,184 |
Major Customers The following table summarizes the percentage of the consolidated revenues for those customers accounting for more than 10% of the consolidated revenues (all of such customer revenues relate to the CCUSA segment). The following table is after giving effect to T-Mobile's acquisition of MetroPCS (completed in April 2013), Sprint's acquisition of Clearwire (completed in July 2013), and AT&T's pending acquisition of Leap Wireless.
| Years Ended December 31,
| 2013 |  | 2012 |  | 2011
Sprint | 27 | % | (a) | 28 | % |  | 24 | %
T-Mobile | 23 | % | (b) | 15 | % |  | 14 | %
AT&T | 22 | % | (c) | 23 | % |  | 26 | %
Verizon Wireless | 16 | % |  | 17 | % |  | 19 | %
Total | 88 | % |  | 83 | % |  | 83 | %
________________
(a) | For the year ended December 31, 2013, Sprint and Clearwire accounted for 24% and 3%, respectively, of consolidated net revenues. As of December 31, 2013, Sprint and Clearwire are co-residents on approximately 7% of the Company's towers. The weighted-average remaining term on these tower tenant contracts with Sprint and Clearwire is approximately six years and three years, respectively. Revenue from Clearwire on these towers represented approximately 2% of consolidated site rental revenues for the year ended December 31, 2013.
(b) | For the year ended December 31, 2013, T-Mobile and MetroPCS accounted for 18% and 5%, respectively, of consolidated net revenues. As of December 31, 2013, T-Mobile and MetroPCS are co-residents on approximately 4% of the Company's towers. The weighted-average remaining term on these tower tenant contracts with T-Mobile and MetroPCS is approximately nine years and five years , respectively. Revenue from MetroPCS on these towers represented approximately 2% of consolidated site rental revenues for the year ended December 31, 2013.
(c) | For the year ended December 31, 2013, AT&T and Leap Wireless accounted for 19% and 3%, respectively, of consolidated net revenues. As of December 31, 2013, AT&T and Leap Wireless are co-residents on approximately 6% of the Company's towers. The weighted-average remaining term on these tower tenant contracts with AT&T and Leap Wireless is approximately eight years and three years, respectively. Revenue from Leap Wireless on these towers represented approximately 1% of consolidated site rental revenues for the year ended December 31, 2013.
Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents, restricted cash 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. The Company's restricted cash is predominately held and directed by a trustee (see note 2). The Company derives the largest portion of its revenues from customers in the wireless communications industry. The Company also has a concentration in its volume of business with Sprint, T-Mobile, AT&T, and Verizon Wireless or their agents 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 customers, the use of customer leases with contractually determinable payment terms, or proactive management of past due balances.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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