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Operating Segments
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Operating Segments 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. See note 12 to the condensed consolidated financial statements for a discussion of the Company's 2023 Restructuring Plan, which included discontinuing installation services as a Towers product offering. The Fiber segment provides access, including space or capacity, to the Company's approximately (1) 105,000 small cell nodes either currently generating revenue or under contract and (2) 90,000 route miles of fiber primarily supporting small cells and fiber solutions geographically dispersed throughout the U.S.
The measurement of profit or loss used by the Company's CODM to evaluate the performance of its operating segments is segment operating profit (loss). Additionally, the Company CODM also reviews segment site rental gross margin and segment services and other gross margin. The Company defines segment operating profit (loss) as segment site rental gross margin plus segment services and other gross margin, and segment other operating (income) expense, less segment selling, general and administrative expenses. 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, net and amortization of 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, net recorded in consolidated services and other costs of operations. All of these measurements are exclusive of depreciation, amortization and accretion, which are shown separately.
The following tables set forth the Company's segment operating results for the three and nine months ended September 30, 2024 and 2023. 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 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, net, gains (losses) on retirement of long-term obligations, interest income, other income (expense), stock-based compensation expense, net and certain selling, general and administrative expenses, and (2) reconciles segment operating profit (loss) 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 and restricted 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.
Three Months Ended September 30, 2024
Three Months Ended September 30, 2023
TowersFiberOther

Total
TowersFiberOther

Total
Segment site rental revenues$1,063 $530 $1,593 $1,074 $503 $1,577 
Segment services and other revenues54 5 59 86 4 90 
Segment revenues1,117 535 1,652 1,160 507 1,667 
Segment site rental costs of operations240 182 422 236 175 411 
Segment services and other costs of operations25 3 28 61 3 64 
Segment costs of operations(a)(b)
265 185 450 297 178 475 
Segment site rental gross margin823 348 1,171 838 328 1,166 
Segment services and other gross margin29 2 31 25 1 26 
Segment selling, general and administrative expenses(b)
19 40 59 24 48 72 
Segment operating profit (loss)833 310 1,143 839 281 1,120 
Other selling, general and administrative expenses(b)
$70 70 $75 75 
Stock-based compensation expense, net30 30 36 36 
Depreciation, amortization and accretion432 432 439 439 
Restructuring charges48 48 72 72 
Interest expense and amortization of deferred financing costs, net236 236 217 217 
Other (income) expenses to reconcile to income (loss) before income taxes(c)
19 19 9 9 
Income (loss) before income taxes$308 $272 
Capital expenditures$32 $257 $8 $297 $49 $287 $11 $347 
Total assets (at period end)$21,018 $16,342 $683 $38,043 $21,783 $16,237 $679 $38,699 
(a)Exclusive of depreciation, amortization and accretion shown separately.
(b)Segment costs of operations excludes (1) stock-based compensation expense, net of $6 million and $7 million for the three months ended September 30, 2024 and 2023, respectively and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended September 30, 2024 and 2023. Segment selling, general and administrative expenses and other selling, general and administrative expenses exclude stock-based compensation expense, net of $24 million and $29 million for the three months ended September 30, 2024 and 2023, respectively.
(c)See condensed consolidated statement of operations and comprehensive income (loss) for further information.
Nine Months Ended September 30, 2024
Nine Months Ended September 30, 2023
TowersFiberOther

Total
TowersFiberOther

Total
Segment site rental revenues$3,196 $1,565 $4,761 $3,234 $1,695 $4,929 
Segment services and other revenues143 15 158 356 22 378 
Segment revenues3,339 1,580 4,919 3,590 1,717 5,307 
Segment site rental costs of operations723 542 1,265 714 518 1,232 
Segment services and other costs of operations76 10 86 252 8 260 
Segment costs of operations(a)(b)
799 552 1,351 966 526 1,492 
Segment site rental gross margin2,473 1,023 3,496 2,520 1,177 3,697 
Segment services and other gross margin67 5 72 104 14 118 
Segment selling, general and administrative expenses(b)
56 137 193 84 148 232 
Segment operating profit (loss)
2,484 891 3,375 2,540 1,043 3,583 
Other selling, general and administrative expenses(b)
$259 259 $246 246 
Stock-based compensation expense108 108 126 126 
Depreciation, amortization and accretion
1,301 1,301 1,315 1,315 
Restructuring charges
104 104 72 72 
Interest expense and amortization of deferred financing costs, net692 692 627 627 
Other (income) expenses to reconcile to income (loss) before income taxes(c)
27 27 37 37 
Income (loss) before income taxes$884 $1,160 
Capital expenditures$96 $819 $31 $946 $160 $872 $35 $1,067 
(a)Exclusive of depreciation, amortization and accretion shown separately.
(b)Segment costs of operations excludes (1) stock-based compensation expense, net of $20 million and $23 million for the nine months ended September 30, 2024 and 2023, respectively, and (2) prepaid lease purchase price adjustments of $12 million for each of the nine months ended September 30, 2024 and 2023. Segment selling, general and administrative expenses and other selling, general and administrative expenses exclude stock-based compensation expense, net of $88 million and $103 million for the nine months ended September 30, 2024 and 2023, respectively.
(c)See condensed consolidated statement of operations and comprehensive income (loss) for further information.