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Segment Data (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2024 |  | (in thousands)
Revenues (1) |  | $ | 463,204 |  | $ | 163,253 |  | $ | 34,020 |  | $ | — |  | $ | 660,477
Cost of revenues (2) |  |  | 65,489 |  |  | 48,642 |  |  | 27,137 |  |  | — |  |  | 141,268
Operating profit |  |  | 397,715 |  |  | 114,611 |  |  | 6,883 |  |  | — |  |  | 519,209
Selling, general, and administrative expenses |  |  | 33,608 |  |  | 15,775 |  |  | 2,944 |  |  | 10,049 |  |  | 62,376
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 3,089 |  |  | 3,485 |  |  | — |  |  | — |  |  | 6,574
Asset impairment and decommission costs |  |  | 13,825 |  |  | 17,362 |  |  | — |  |  | 423 |  |  | 31,610
Depreciation, amortization and accretion |  |  | 33,870 |  |  | 27,457 |  |  | 1,038 |  |  | 1,814 |  |  | 64,179
Operating income (loss) |  |  | 313,323 |  |  | 50,532 |  |  | 2,901 |  |  | (12,286) |  |  | 354,470
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (207,355) |  |  | (207,355)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 147,115
Cash capital expenditures (3) |  |  | 48,603 |  |  | 41,687 |  |  | 123 |  |  | 1,177 |  |  | 91,590
For the three months ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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
‎
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the six months ended June 30, 2024 |  | (in thousands)
Revenues (1) |  | $ | 924,703 |  | $ | 330,030 |  | $ | 63,606 |  | $ | — |  | $ | 1,318,339
Cost of revenues (2) |  |  | 131,459 |  |  | 97,485 |  |  | 50,315 |  |  | — |  |  | 279,259
Operating profit |  |  | 793,244 |  |  | 232,545 |  |  | 13,291 |  |  | — |  |  | 1,039,080
Selling, general, and administrative expenses |  |  | 67,956 |  |  | 31,483 |  |  | 7,370 |  |  | 24,265 |  |  | 131,074
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 8,387 |  |  | 5,604 |  |  | — |  |  | — |  |  | 13,991
Asset impairment and decommission costs |  |  | 43,738 |  |  | 31,097 |  |  | — |  |  | 423 |  |  | 75,258
Depreciation, amortization and accretion |  |  | 74,215 |  |  | 61,286 |  |  | 1,872 |  |  | 3,556 |  |  | 140,929
Operating income (loss) |  |  | 598,948 |  |  | 103,075 |  |  | 4,049 |  |  | (28,244) |  |  | 677,828
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (359,244) |  |  | (359,244)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 318,584
Cash capital expenditures (3) |  |  | 89,624 |  |  | 77,289 |  |  | 182 |  |  | 1,771 |  |  | 168,866
For the six months ended June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of June 30, 2024 |  | $ | 5,860,164 |  | $ | 3,502,379 |  | $ | 44,447 |  | $ | 379,188 |  | $ | 9,786,178
As of December 31, 2023 |  | $ | 5,876,648 |  | $ | 3,871,164 |  | $ | 66,001 |  | $ | 364,628 |  | $ | 10,178,441
(1)For the three months ended June 30, 2024 and 2023, site leasing revenue in Brazil was $93.1 million and $99.7 million, respectively. For the six months ended June 30, 2024 and 2023, site leasing revenue in Brazil was $190.5 million and $193.6 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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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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