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v3.23.2

Segment Data (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Data [Abstract] |
Schedule of Segment Reporting Information |
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the three months ended June 30, 2023 |  | (in thousands)
Revenues (1) |  | $ | 456,754 |  | $ | 169,389 |  | $ | 52,357 |  | $ | — |  | $ | 678,500
Cost of revenues (2) |  |  | 64,434 |  |  | 50,580 |  |  | 39,236 |  |  | — |  |  | 154,250
Operating profit |  |  | 392,320 |  |  | 118,809 |  |  | 13,121 |  |  | — |  |  | 524,250
Selling, general, and administrative expenses |  |  | 28,445 |  |  | 18,413 |  |  | 4,471 |  |  | 12,054 |  |  | 63,383
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 2,573 |  |  | 2,380 |  |  | — |  |  | — |  |  | 4,953
Asset impairment and decommission costs |  |  | 30,465 |  |  | 2,244 |  |  | — |  |  | 158 |  |  | 32,867
Depreciation, amortization and accretion |  |  | 117,353 |  |  | 61,892 |  |  | 936 |  |  | 1,639 |  |  | 181,820
Operating income (loss) |  |  | 213,484 |  |  | 33,880 |  |  | 7,714 |  |  | (13,851) |  |  | 241,227
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (68,435) |  |  | (68,435)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 172,792
Cash capital expenditures (3) |  |  | 50,943 |  |  | 32,079 |  |  | 675 |  |  | 335 |  |  | 84,032
For the three months ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 442,084 |  | $ | 138,149 |  | $ | 71,773 |  | $ | — |  | $ | 652,006
Cost of revenues (2) |  |  | 65,768 |  |  | 45,747 |  |  | 54,497 |  |  | — |  |  | 166,012
Operating profit |  |  | 376,316 |  |  | 92,402 |  |  | 17,276 |  |  | — |  |  | 485,994
Selling, general, and administrative expenses |  |  | 26,225 |  |  | 15,073 |  |  | 5,212 |  |  | 16,764 |  |  | 63,274
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 2,789 |  |  | 4,040 |  |  | — |  |  | — |  |  | 6,829
Asset impairment and decommission costs |  |  | 7,089 |  |  | 1,432 |  |  | — |  |  | — |  |  | 8,521
Depreciation, amortization and accretion |  |  | 122,570 |  |  | 51,597 |  |  | 619 |  |  | 1,606 |  |  | 176,392
Operating income (loss) |  |  | 217,643 |  |  | 20,260 |  |  | 11,445 |  |  | (18,370) |  |  | 230,978
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (165,390) |  |  | (165,390)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 65,588
Cash capital expenditures (3) |  |  | 94,427 |  |  | 95,294 |  |  | 1,728 |  |  | 1,629 |  |  | 193,078
‎
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the six months ended June 30, 2023 |  | (in thousands)
Revenues (1) |  | $ | 911,588 |  | $ | 331,823 |  | $ | 110,605 |  | $ | — |  | $ | 1,354,016
Cost of revenues (2) |  |  | 134,183 |  |  | 100,950 |  |  | 83,421 |  |  | — |  |  | 318,554
Operating profit |  |  | 777,405 |  |  | 230,873 |  |  | 27,184 |  |  | — |  |  | 1,035,462
Selling, general, and administrative expenses |  |  | 60,188 |  |  | 35,143 |  |  | 10,548 |  |  | 29,713 |  |  | 135,592
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 5,805 |  |  | 5,205 |  |  | — |  |  | — |  |  | 11,010
Asset impairment and decommission costs |  |  | 49,900 |  |  | 7,130 |  |  | — |  |  | 2,227 |  |  | 59,257
Depreciation, amortization and accretion |  |  | 236,840 |  |  | 122,304 |  |  | 1,852 |  |  | 3,239 |  |  | 364,235
Operating income (loss) |  |  | 424,672 |  |  | 61,091 |  |  | 14,784 |  |  | (35,179) |  |  | 465,368
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (148,512) |  |  | (148,512)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 316,856
Cash capital expenditures (3) |  |  | 95,578 |  |  | 55,112 |  |  | 1,070 |  |  | 1,591 |  |  | 153,351
For the six months ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 875,070 |  | $ | 264,595 |  | $ | 132,111 |  | $ | — |  | $ | 1,271,776
Cost of revenues (2) |  |  | 131,573 |  |  | 87,097 |  |  | 100,269 |  |  | — |  |  | 318,939
Operating profit |  |  | 743,497 |  |  | 177,498 |  |  | 31,842 |  |  | — |  |  | 952,837
Selling, general, and administrative expenses |  |  | 49,598 |  |  | 30,567 |  |  | 10,734 |  |  | 34,499 |  |  | 125,398
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 6,388 |  |  | 5,545 |  |  | — |  |  | — |  |  | 11,933
Asset impairment and decommission costs |  |  | 12,572 |  |  | 4,461 |  |  | — |  |  | — |  |  | 17,033
Depreciation, amortization and accretion |  |  | 245,704 |  |  | 100,478 |  |  | 1,207 |  |  | 3,327 |  |  | 350,716
Operating income (loss) |  |  | 429,235 |  |  | 36,447 |  |  | 19,901 |  |  | (37,826) |  |  | 447,757
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (153,385) |  |  | (153,385)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 294,372
Cash capital expenditures (3) |  |  | 133,972 |  |  | 307,065 |  |  | 2,694 |  |  | 3,210 |  |  | 446,941
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of June 30, 2023 |  | $ | 6,133,583 |  | $ | 3,908,377 |  | $ | 96,882 |  | $ | 465,628 |  | $ | 10,604,470
As of December 31, 2022 |  | $ | 6,308,204 |  | $ | 3,808,699 |  | $ | 158,137 |  | $ | 310,001 |  | $ | 10,585,041
(1)For the three months ended June 30, 2023 and 2022, site leasing revenue in Brazil was $99.7 million and $73.8 million, respectively. For the six months ended June 30, 2023 and 2022, site leasing revenue in Brazil was $193.6 million and $139.1 million, respectively. Other than Brazil, no foreign country represented more than 5% of the Company’s total revenues in any of the periods presented. (2)Excludes depreciation, amortization, and accretion. (3)Includes cash paid for capital expenditures, acquisitions, and right-of-use assets. (4)Assets in Other consist primarily of general corporate assets and short-term investments.

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