5.ACQUISITIONS

The Company acquired 94 communication sites and related assets and liabilities and the rights to manage 4 additional communication sites during the three months ended September 30, 2014. These acquisitions were not significant to the Company and, accordingly, a preliminary estimate of the fair value of the assets acquired and liabilities assumed has not been presented. The Company evaluates all acquisitions after the applicable closing date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed by major balance sheet caption, as well as the separate recognition of intangible assets from goodwill if certain criteria are met.

The following table summarizes all of the Company’s cash acquisition capital expenditures:



	For the three months				For the nine months
	ended September 30,				ended September 30,
	2014		2013		2014		2013

	(in thousands)
Towers and related intangible assets	$	71,688	$	80,326	$	1,019,733	$	311,191
Ground lease buyouts (1)		9,586		11,320		29,015		35,864
Total cash acquisition capital expenditures	$	81,274	$	91,646	$	1,048,748	$	347,055

(1)

In addition, the Company paid $2.7 million and $2.8 million for ground lease extensions and term easements during the three months ended September 30, 2014 and 2013, respectively, and $7.8 million and $7.6 million for ground lease extensions during the nine months ended September 30, 2014 and 2013, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

Subsequent to September 30, 2014, the Company acquired 52 communication sites and related assets and liabilities for $40.6 million in cash.

Foreign Currency Forward Contract

On September 29, 2014, the Company executed put and call option contracts settling on November 25, 2014 which create a “costless collar” based on the cost to purchase $1.17 billion Brazilian Reals with US Dollars. The options are intended to limit exposure to movements in the related exchange rates and were entered into in contemplation of the purchase of the Oi S.A. acquisition that is anticipated to close December 1, 2014. These options create a floor price for the purchase of Brazilian Reals of 2.4 and a ceiling price of 2.5665. These contracts did not qualify for hedge accounting and, as such, any gains and losses would be reflected within Other Income, net in the accompanying Consolidated Statement of Operations. As of September 30, 2014, there was no gain or loss recognized in connection with these contracts.