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Segment Data | 12 Months Ended
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Dec. 31, 2023
Segment Data [Abstract] |
Segment Data | 15.SEGMENT DATA The Company operates principally in two business segments: site leasing and site development. The Company’s site leasing business includes two reportable segments, domestic site leasing and international site leasing. The Company’s business segments are strategic business units that offer different services. They are managed separately based on the fundamental differences in their operations. The site leasing segment includes results of the managed and sublease businesses. The site development segment includes the results of both consulting and construction related activities. The Company’s Chief Operating Decision Maker utilizes segment operating profit and operating income as his two measures of segment profit in assessing performance and allocating resources at the reportable segment level. The Company has applied the aggregation criteria to operations within the international site leasing segment on a basis that is consistent with management’s review of information and performance evaluations of the individual markets in this region. Revenues, cost of revenues (exclusive of depreciation, accretion and amortization), capital expenditures (including assets acquired through the issuance of shares of the Company’s Class A common stock) and identifiable assets pertaining to the segments in which the Company continues to operate are presented below.
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the year ended December 31, 2023 |  | (in thousands)
Revenues (1) |  | $ | 1,846,554 |  | $ | 670,381 |  | $ | 194,649 |  | $ | — |  | $ | 2,711,584
Cost of revenues (2) |  |  | 268,572 |  |  | 204,115 |  |  | 139,935 |  |  | — |  |  | 612,622
Operating profit |  |  | 1,577,982 |  |  | 466,266 |  |  | 54,714 |  |  | — |  |  | 2,098,962
Selling, general, and administrative expenses |  |  | 121,782 |  |  | 66,619 |  |  | 21,316 |  |  | 58,219 |  |  | 267,936
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 10,725 |  |  | 10,946 |  |  | — |  |  | — |  |  | 21,671
Asset impairment and decommission costs |  |  | 138,699 |  |  | 28,089 |  |  | 372 |  |  | 2,227 |  |  | 169,387
Depreciation, amortization and accretion |  |  | 457,169 |  |  | 248,758 |  |  | 3,704 |  |  | 6,678 |  |  | 716,309
Operating income (loss) |  |  | 849,607 |  |  | 111,854 |  |  | 29,322 |  |  | (67,124) |  |  | 923,659
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (375,156) |  |  | (375,156)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 548,503
Cash capital expenditures (3) |  |  | 244,366 |  |  | 118,972 |  |  | 2,573 |  |  | 2,702 |  |  | 368,613
For the year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 1,777,593 |  | $ | 558,982 |  | $ | 296,879 |  | $ | — |  | $ | 2,633,454
Cost of revenues (2) |  |  | 264,149 |  |  | 181,536 |  |  | 222,965 |  |  | — |  |  | 668,650
Operating profit |  |  | 1,513,444 |  |  | 377,446 |  |  | 73,914 |  |  | — |  |  | 1,964,804
Selling, general, and administrative expenses |  |  | 102,619 |  |  | 62,911 |  |  | 22,911 |  |  | 73,412 |  |  | 261,853
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 13,280 |  |  | 13,527 |  |  | — |  |  | — |  |  | 26,807
Asset impairment and decommission costs |  |  | 33,880 |  |  | 9,280 |  |  | — |  |  | — |  |  | 43,160
Depreciation, amortization and accretion |  |  | 489,072 |  |  | 209,563 |  |  | 2,521 |  |  | 6,420 |  |  | 707,576
Operating income (loss) |  |  | 874,593 |  |  | 82,165 |  |  | 48,482 |  |  | (79,832) |  |  | 925,408
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (399,565) |  |  | (399,565)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 525,843
Cash capital expenditures (3) |  |  | 235,787 |  |  | 1,148,941 |  |  | 4,057 |  |  | 5,610 |  |  | 1,394,395
For the year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 1,681,372 |  | $ | 422,715 |  | $ | 204,747 |  | $ | — |  | $ | 2,308,834
Cost of revenues (2) |  |  | 258,612 |  |  | 127,779 |  |  | 159,093 |  |  | — |  |  | 545,484
Operating profit |  |  | 1,422,760 |  |  | 294,936 |  |  | 45,654 |  |  | — |  |  | 1,763,350
Selling, general, and administrative expenses |  |  | 115,458 |  |  | 37,768 |  |  | 20,636 |  |  | 46,167 |  |  | 220,029
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 14,452 |  |  | 13,169 |  |  | — |  |  | — |  |  | 27,621
Asset impairment and decommission costs |  |  | 20,135 |  |  | 12,763 |  |  | — |  |  | 146 |  |  | 33,044
Depreciation, amortization and accretion |  |  | 514,234 |  |  | 177,059 |  |  | 2,295 |  |  | 6,573 |  |  | 700,161
Operating income (loss) |  |  | 758,481 |  |  | 54,177 |  |  | 22,723 |  |  | (52,886) |  |  | 782,495
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (529,931) |  |  | (529,931)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 252,564
Cash capital expenditures (3) |  |  | 1,249,075 |  |  | 135,591 |  |  | 2,563 |  |  | 6,269 |  |  | 1,393,498
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of December 31, 2023 |  | $ | 5,876,648 |  | $ | 3,871,164 |  | $ | 66,001 |  | $ | 364,628 |  | $ | 10,178,441
As of December 31, 2022 |  | $ | 6,308,204 |  | $ | 3,808,699 |  | $ | 158,137 |  | $ | 310,001 |  | $ | 10,585,041
(1)For the years ended December 31, 2023, 2022, and 2021, site leasing revenue in Brazil was $392.0 million, $299.5 million, and $233.5 million, respectively. Other than Brazil, no foreign country represented more than 5% of the Company’s total site leasing 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. Total domestic long-lived assets were $5.4 billion and $5.9 billion as of December 31, 2023 and 2022, respectively. Total international long-lived assets were $3.4 billion and $3.5 billion as of December 31, 2023 and 2022, respectively. Total long-lived assets in Brazil were $2.1 billion and $2.0 billion as of December 31, 2023 and 2022, respectively. Long-lived assets include property and equipment, net, intangible assets, net, operating lease right-of-use assets, net, and acquired and other right-of-use assets, net. Other than Brazil, no foreign country represented more than 5% of the Company’s total long-lived assets in any of the periods presented.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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