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v3.23.3

Segment Data (Tables) | 9 Months Ended
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Sep. 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 September 30, 2023 |  | (in thousands)
Revenues (1) |  | $ | 468,371 |  | $ | 169,069 |  | $ | 45,104 |  | $ | — |  | $ | 682,544
Cost of revenues (2) |  |  | 66,768 |  |  | 51,509 |  |  | 31,493 |  |  | — |  |  | 149,770
Operating profit |  |  | 401,603 |  |  | 117,560 |  |  | 13,611 |  |  | — |  |  | 532,774
Selling, general, and administrative expenses |  |  | 30,759 |  |  | 15,925 |  |  | 4,993 |  |  | 13,144 |  |  | 64,821
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 2,369 |  |  | 3,243 |  |  | — |  |  | — |  |  | 5,612
Asset impairment and decommission costs |  |  | 25,560 |  |  | 7,503 |  |  | — |  |  | — |  |  | 33,063
Depreciation, amortization and accretion |  |  | 114,849 |  |  | 63,218 |  |  | 915 |  |  | 1,692 |  |  | 180,674
Operating income (loss) |  |  | 228,066 |  |  | 27,671 |  |  | 7,703 |  |  | (14,836) |  |  | 248,604
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (155,381) |  |  | (155,381)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 93,223
Cash capital expenditures (3) |  |  | 81,886 |  |  | 31,583 |  |  | 1,280 |  |  | 681 |  |  | 115,430
For the three months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 449,595 |  | $ | 137,707 |  | $ | 88,282 |  | $ | — |  | $ | 675,584
Cost of revenues (2) |  |  | 66,423 |  |  | 45,590 |  |  | 65,540 |  |  | — |  |  | 177,553
Operating profit |  |  | 383,172 |  |  | 92,117 |  |  | 22,742 |  |  | — |  |  | 498,031
Selling, general, and administrative expenses |  |  | 31,380 |  |  | 14,952 |  |  | 5,711 |  |  | 13,800 |  |  | 65,843
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 4,318 |  |  | 2,526 |  |  | — |  |  | — |  |  | 6,844
Asset impairment and decommission costs |  |  | 7,835 |  |  | 697 |  |  | — |  |  | — |  |  | 8,532
Depreciation, amortization and accretion |  |  | 122,149 |  |  | 49,530 |  |  | 624 |  |  | 1,522 |  |  | 173,825
Operating income (loss) |  |  | 217,490 |  |  | 24,412 |  |  | 16,407 |  |  | (15,322) |  |  | 242,987
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (140,342) |  |  | (140,342)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 102,645
Cash capital expenditures (3) |  |  | 48,522 |  |  | 73,007 |  |  | 1,367 |  |  | 933 |  |  | 123,829
‎
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the nine months ended September 30, 2023 |  | (in thousands)
Revenues (1) |  | $ | 1,379,959 |  | $ | 500,892 |  | $ | 155,709 |  | $ | — |  | $ | 2,036,560
Cost of revenues (2) |  |  | 200,952 |  |  | 152,459 |  |  | 114,914 |  |  | — |  |  | 468,325
Operating profit |  |  | 1,179,007 |  |  | 348,433 |  |  | 40,795 |  |  | — |  |  | 1,568,235
Selling, general, and administrative expenses |  |  | 90,946 |  |  | 51,068 |  |  | 15,541 |  |  | 42,857 |  |  | 200,412
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 8,174 |  |  | 8,448 |  |  | — |  |  | — |  |  | 16,622
Asset impairment and decommission costs |  |  | 75,460 |  |  | 14,633 |  |  | — |  |  | 2,227 |  |  | 92,320
Depreciation, amortization and accretion |  |  | 351,689 |  |  | 185,522 |  |  | 2,767 |  |  | 4,931 |  |  | 544,909
Operating income (loss) |  |  | 652,738 |  |  | 88,762 |  |  | 22,487 |  |  | (50,015) |  |  | 713,972
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (303,893) |  |  | (303,893)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 410,079
Cash capital expenditures (3) |  |  | 177,464 |  |  | 86,695 |  |  | 2,350 |  |  | 2,272 |  |  | 268,781
For the nine months ended September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 1,324,666 |  | $ | 402,301 |  | $ | 220,393 |  | $ | — |  | $ | 1,947,360
Cost of revenues (2) |  |  | 197,995 |  |  | 132,687 |  |  | 165,809 |  |  | — |  |  | 496,491
Operating profit |  |  | 1,126,671 |  |  | 269,614 |  |  | 54,584 |  |  | — |  |  | 1,450,869
Selling, general, and administrative expenses |  |  | 90,541 |  |  | 45,519 |  |  | 16,445 |  |  | 38,736 |  |  | 191,241
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 10,705 |  |  | 8,071 |  |  | — |  |  | — |  |  | 18,776
Asset impairment and decommission costs |  |  | 20,407 |  |  | 5,158 |  |  | — |  |  | — |  |  | 25,565
Depreciation, amortization and accretion |  |  | 367,853 |  |  | 150,008 |  |  | 1,831 |  |  | 4,849 |  |  | 524,541
Operating income (loss) |  |  | 637,165 |  |  | 60,858 |  |  | 36,308 |  |  | (43,585) |  |  | 690,746
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (293,728) |  |  | (293,728)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 397,018
Cash capital expenditures (3) |  |  | 182,494 |  |  | 380,072 |  |  | 4,061 |  |  | 4,143 |  |  | 570,770
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of September 30, 2023 |  | $ | 6,061,251 |  | $ | 3,775,452 |  | $ | 74,763 |  | $ | 422,715 |  | $ | 10,334,181
As of December 31, 2022 |  | $ | 6,308,204 |  | $ | 3,808,699 |  | $ | 158,137 |  | $ | 310,001 |  | $ | 10,585,041
(1)For the three months ended September 30, 2023 and 2022, site leasing revenue in Brazil was $100.0 million and $70.7 million, respectively. For the nine months ended September 30, 2023 and 2022, site leasing revenue in Brazil was $293.6 million and $209.8 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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