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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Site leasing $ 626,457 $ 626,143 $ 1,254,733 $ 1,243,411
Site development 34,020 52,357 63,606 110,605
Total revenues 660,477 678,500 1,318,339 1,354,016
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):        
Cost of site leasing 114,131 115,014 228,944 235,133
Cost of site development 27,137 39,236 50,315 83,421
Selling, general, and administrative expenses [1] 62,376 63,383 131,074 135,592
Acquisition and new business initiatives related adjustments and expenses 6,574 4,953 13,991 11,010
Asset impairment and decommission costs 31,610 32,867 75,258 59,257
Depreciation, accretion, and amortization 64,179 181,820 140,929 364,235
Total operating expenses 306,007 437,273 640,511 888,648
Operating income 354,470 241,227 677,828 465,368
Other income (expense):        
Interest income 7,046 4,683 14,360 7,498
Interest expense (97,530) (101,288) (193,921) (202,514)
Non-cash interest expense (7,080) (7,518) (15,523) (21,757)
Amortization of deferred financing fees (4,932) (5,044) (10,221) (10,032)
Loss from extinguishment of debt, net     (4,428)  
Other (expense) income, net (104,859) 40,732 (149,511) 78,293
Total other expense, net (207,355) (68,435) (359,244) (148,512)
Income before income taxes 147,115 172,792 318,584 316,856
Benefit (provision) for income taxes 12,337 29,178 (4,590) (14,331)
Net income 159,452 201,970 313,994 302,525
Net loss attributable to noncontrolling interests 3,378 1,678 3,378 2,340
Net income attributable to SBA Communications Corporation $ 162,830 $ 203,648 $ 317,372 $ 304,865
Net income per common share attributable to SBA Communications Corporation:        
Basic $ 1.52 $ 1.88 $ 2.94 $ 2.82
Diluted $ 1.51 $ 1.87 $ 2.93 $ 2.79
Weighted-average number of common shares        
Basic 107,462 108,355 107,782 108,244
Diluted 107,679 108,884 108,148 109,078
[1] Includes non-cash compensation of $17,872 and $17,566 for the three months ended June 30, 2024 and 2023, respectively, and $38,645 and $43,094 for the six months ended June 30, 2024 and 2023, respectively.