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Operating Segments and Concentrations of Credit Risk | 12 Months Ended
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Dec. 31, 2021
Segment Reporting Information [Line Items] |
Operating Segments and Concentrations of Credit Risks | Operating Segments and Concentrations of Credit Risk Operating Segments The Company's operating segments consist of (1) Towers and (2) Fiber. The Towers segment provides access, including space or capacity, to the Company's more than 40,000 towers geographically dispersed throughout the U.S. The Towers segment also reflects certain ancillary services relating to the Company's towers, predominately consisting of site development services and installation services. The Fiber segment provides access, including space or capacity, to the Company's more than 80,000 route miles of fiber primarily supporting small cell networks and fiber solutions geographically dispersed throughout the U.S. The measurements of profit or loss used by the Company's chief operating decision maker ("CODM") to evaluate the performance of its operating segments are (1) segment site rental gross margin, (2) segment services and other gross margin and (3) segment operating profit. The Company defines segment site rental gross margin as segment site rental revenues less segment site rental costs of operations, excluding stock-based compensation expense and prepaid lease purchase price adjustments recorded in consolidated site rental costs of operations. The Company defines segment services and other gross margin as segment services and other revenues less segment services and other costs of operations, excluding stock-based compensation expense recorded in consolidated services and other costs of operations. The Company defines segment operating profit as segment site rental gross margin plus segment services and other gross margin, and segment other operating (income) expense, less selling, general and administrative expenses attributable to the respective segment. All of these measurements of profit or loss are exclusive of depreciation, amortization and accretion, which are shown separately. Costs that are directly attributable to Towers and Fiber are assigned to those respective segments. Additionally, certain costs are shared across segments and are reflected in the Company's segment measures through allocations that management believes to be reasonable. The "Other" column (1) represents amounts excluded from specific segments, such as 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, interest income, other income (expense), income (loss) from discontinued operations, and stock-based compensation expense, and (2) reconciles segment operating profit to income (loss) before income taxes, as the amounts are not utilized in assessing each segment’s performance. The "Other" total assets balance includes corporate assets such as cash and cash equivalents which have not been allocated to specific segments. There are no significant revenues resulting from transactions between the Company's operating segments.
| Year Ended December 31, 2021
| Towers |  | Fiber |  | Other |  | Consolidated Total
Segment site rental revenues | $ | 3,804 |  |  | $ | 1,915 |  |  |  |  | $ | 5,719 |
Segment services and other revenues | 601 |  |  | 20 |  |  |  |  | 621 |
Segment revenues | 4,405 |  |  | 1,935 |  |  |  |  | 6,340 |
Segment site rental costs of operations | 889 |  |  | 633 |  |  |  |  | 1,522 |
Segment services and other costs of operations | 414 |  |  | 17 |  |  |  |  | 431 |
Segment costs of operations(a)(b) | 1,303 |  |  | 650 |  |  |  |  | 1,953 |
Segment site rental gross margin | 2,915 |  |  | 1,282 |  |  |  |  | 4,197 |
Segment services and other gross margin | 187 |  |  | 3 |  |  |  |  | 190 |
Segment selling, general and administrative expenses(b) | 107 |  |  | 174 |  |  |  |  | 281 |
Segment operating profit (loss) | 2,995 |  |  | 1,111 |  |  |  |  | 4,106 |
Other selling, general and administrative expenses(b) |  |  |  |  | $ | 290 |  |  | 290 |
Stock-based compensation expense |  |  |  |  | 131 |  |  | 131 |
Depreciation, amortization and accretion |  |  |  |  | 1,644 |  |  | 1,644 |
Interest expense and amortization of deferred financing costs |  |  |  |  | 657 |  |  | 657 |
Other (income) expenses to reconcile to income (loss) before income taxes(c) |  |  |  |  | 205 |  |  | 205 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | 1,179 |
Capital expenditures | $ | 221 |  |  | $ | 956 |  |  | $ | 52 |  |  | $ | 1,229 |
Total assets (at year end) | $ | 22,318 |  |  | $ | 15,876 |  |  | $ | 846 |  |  | $ | 39,040 |
Total goodwill (at year end) | $ | 5,127 |  |  | $ | 4,951 |  |  | $ | — |  |  | $ | 10,078 |
(a)Exclusive of depreciation, amortization and accretion shown separately. (b)Segment costs of operations for the year ended December 31, 2021 excludes (1) stock-based compensation expense of $22 million and (2) prepaid lease purchase price adjustments of $18 million. For the year ended December 31, 2021, segment selling, general and administrative expenses exclude stock-based compensation expense of $109 million. (c)See consolidated statement of operations for further information.
| Year Ended December 31, 2020
| Towers |  | Fiber |  | Other |  | Consolidated Total
Segment site rental revenues | $ | 3,497 |  |  | $ | 1,823 |  |  |  |  | $ | 5,320 |
Segment services and other revenues | 500 |  |  | 20 |  |  |  |  | 520 |
Segment revenues | 3,997 |  |  | 1,843 |  |  |  |  | 5,840 |
Segment site rental costs of operations | 866 |  |  | 620 |  |  |  |  | 1,486 |
Segment services and other costs of operations | 429 |  |  | 12 |  |  |  |  | 441 |
Segment costs of operations(a)(b) | 1,295 |  |  | 632 |  |  |  |  | 1,927 |
Segment site rental gross margin | 2,631 |  |  | 1,203 |  |  |  |  | 3,834 |
Segment services and other gross margin | 71 |  |  | 8 |  |  |  |  | 79 |
Segment selling, general and administrative expenses(b) | 100 |  |  | 186 |  |  |  |  | 286 |
Segment other operating (income) expense(c) | — |  |  | (362) |  |  |  |  | (362) |
Segment operating profit (loss) | 2,602 |  |  | 1,387 |  |  |  |  | 3,989 |
Other selling, general and administrative expenses(b) |  |  |  |  | $ | 283 |  |  | 283 |
Stock-based compensation expense |  |  |  |  | 133 |  |  | 133 |
Depreciation, amortization and accretion |  |  |  |  | 1,608 |  |  | 1,608 |
Interest expense and amortization of deferred financing costs |  |  |  |  | 689 |  |  | 689 |
Other (income) expenses to reconcile to income (loss) before income taxes(d) |  |  |  |  | 200 |  |  | 200 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | 1,076 |
Capital expenditures | $ | 335 |  |  | $ | 1,232 |  |  | $ | 57 |  |  | $ | 1,624 |
Total assets (at year end) | $ | 22,242 |  |  | $ | 15,746 |  |  | $ | 780 |  |  | $ | 38,768 |
Total goodwill (at year end) | $ | 5,127 |  |  | $ | 4,951 |  |  | $ | — |  |  | $ | 10,078 |
(a)Exclusive of depreciation, amortization and accretion shown separately. (b)Segment costs of operations for the year ended December 31, 2020 excludes (1) stock-based compensation expense of $24 million and (2) prepaid lease purchase price adjustments of $18 million. For the year ended December 31, 2020, segment selling, general and administrative expenses exclude stock-based compensation expense of $109 million. (c)See note 15 for further information. (d)See consolidated statement of operations for further information.
| Year Ended December 31, 2019
| Towers |  | Fiber |  | Other |  | Consolidated Total
Segment site rental revenues | $ | 3,389 |  |  | $ | 1,704 |  |  |  |  | $ | 5,093 |
Segment services and other revenues | 653 |  |  | 17 |  |  |  |  | 670 |
Segment revenues | 4,042 |  |  | 1,721 |  |  |  |  | 5,763 |
Segment site rental costs of operations | 864 |  |  | 559 |  |  |  |  | 1,423 |
Segment services and other costs of operations | 506 |  |  | 11 |  |  |  |  | 517 |
Segment costs of operations(a)(b) | 1,370 |  |  | 570 |  |  |  |  | 1,940 |
Segment site rental gross margin | 2,525 |  |  | 1,145 |  |  |  |  | 3,670 |
Segment services and other gross margin | 147 |  |  | 6 |  |  |  |  | 153 |
Segment selling, general and administrative expenses(b) | 96 |  |  | 195 |  |  |  |  | 291 |
Segment operating profit (loss) | 2,576 |  |  | 956 |  |  |  |  | 3,532 |
Other selling, general and administrative expenses(b) |  |  |  |  | $ | 233 |  |  | 233 |
Stock-based compensation expense |  |  |  |  | 116 |  |  | 116 |
Depreciation, amortization and accretion |  |  |  |  | 1,572 |  |  | 1,572 |
Interest expense and amortization of deferred financing costs |  |  |  |  | 683 |  |  | 683 |
Other (income) expenses to reconcile to income (loss) before income taxes(c) |  |  |  |  | 47 |  |  | 47 |
Income (loss) before income taxes |  |  |  |  |  |  | $ | 881 |
Capital expenditures | $ | 543 |  |  | $ | 1,473 |  |  | $ | 41 |  |  | $ | 2,057 |
Total assets (at year end) | $ | 22,357 |  |  | $ | 15,389 |  |  | $ | 711 |  |  | $ | 38,457 |
Total goodwill (at year end) | $ | 5,127 |  |  | $ | 4,951 |  |  | $ | — |  |  | $ | 10,078 |
(a)Exclusive of depreciation, amortization and accretion shown separately. (b)Segment costs of operations for the year ended December 31, 2019 excludes (1) stock-based compensation expense of $26 million and (2) prepaid lease purchase price adjustments of $20 million. For the year ended December 31, 2019, segment selling, general and administrative expenses exclude stock-based compensation expense of $90 million. (c)See consolidated statement of operations for further information. Major Tenants The following table summarizes the percentage of the consolidated revenues for those tenants accounting for more than 10% of the consolidated revenues.
| Years Ended December 31,
| 2021 |  | 2020(a) |  | 2019
T-Mobile | 35 | % |  | 36 | % |  | 22 | %
AT&T | 20 | % |  | 22 | % |  | 21 | %
Verizon Wireless | 20 | % |  | 19 | % |  | 19 | %
Sprint | — | % |  | — | % |  | 14 | %
Total | 75 | % |  | 77 | % |  | 76 | %
(a)For the year ended December 31, 2020, revenues attributable to T-Mobile include revenues previously derived from Sprint. On April 1, 2020, T-Mobile and Sprint announced the completion of their previously disclosed merger. 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 tenants in the wireless industry. The Company also has a concentration in its volume of business with 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 tenants, the use of tenant leases with contractually determinable payment terms or proactive management of past due balances.

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