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Segment Data (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Data [Abstract] |
Schedule of Segment Reporting Information |
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the three months ended March 31, 2024 |  | (in thousands)
Revenues (1) |  | $ | 461,499 |  | $ | 166,777 |  | $ | 29,586 |  | $ | — |  | $ | 657,862
Cost of revenues (2) |  |  | 65,970 |  |  | 48,843 |  |  | 23,178 |  |  | — |  |  | 137,991
Operating profit |  |  | 395,529 |  |  | 117,934 |  |  | 6,408 |  |  | — |  |  | 519,871
Selling, general, and administrative expenses |  |  | 34,348 |  |  | 15,708 |  |  | 4,426 |  |  | 14,216 |  |  | 68,698
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 5,298 |  |  | 2,119 |  |  | — |  |  | — |  |  | 7,417
Asset impairment and decommission costs |  |  | 29,913 |  |  | 13,735 |  |  | — |  |  | — |  |  | 43,648
Depreciation, amortization and accretion |  |  | 40,345 |  |  | 33,829 |  |  | 834 |  |  | 1,742 |  |  | 76,750
Operating income (loss) |  |  | 285,625 |  |  | 52,543 |  |  | 1,148 |  |  | (15,958) |  |  | 323,358
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (151,888) |  |  | (151,888)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 171,470
Cash capital expenditures (3) |  |  | 41,021 |  |  | 35,602 |  |  | 59 |  |  | 594 |  |  | 77,276
For the three months ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 454,833 |  | $ | 162,435 |  | $ | 58,248 |  | $ | — |  | $ | 675,516
Cost of revenues (2) |  |  | 69,750 |  |  | 50,369 |  |  | 44,185 |  |  | — |  |  | 164,304
Operating profit |  |  | 385,083 |  |  | 112,066 |  |  | 14,063 |  |  | — |  |  | 511,212
Selling, general, and administrative expenses |  |  | 31,743 |  |  | 16,730 |  |  | 6,077 |  |  | 17,659 |  |  | 72,209
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 3,232 |  |  | 2,825 |  |  | — |  |  | — |  |  | 6,057
Asset impairment and decommission costs |  |  | 19,435 |  |  | 4,886 |  |  | — |  |  | 2,069 |  |  | 26,390
Depreciation, amortization and accretion |  |  | 119,487 |  |  | 60,412 |  |  | 916 |  |  | 1,600 |  |  | 182,415
Operating income (loss) |  |  | 211,186 |  |  | 27,213 |  |  | 7,070 |  |  | (21,328) |  |  | 224,141
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (80,079) |  |  | (80,079)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 144,062
Cash capital expenditures (3) |  |  | 44,636 |  |  | 23,033 |  |  | 395 |  |  | 1,256 |  |  | 69,320
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of March 31, 2024 |  | $ | 5,832,986 |  | $ | 3,743,958 |  | $ | 42,665 |  | $ | 375,657 |  | $ | 9,995,266
As of December 31, 2023 |  | $ | 5,876,648 |  | $ | 3,871,164 |  | $ | 66,001 |  | $ | 364,628 |  | $ | 10,178,441
(1)For the three months ended March 31, 2024 and 2023, site leasing revenue in Brazil was $97.5 million and $93.8 million, respectively. Other than Brazil, no foreign country represented more than 5% of the Company’s total site leasing revenue 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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