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Segment Data (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024 |  | (in thousands)
Revenues (1) |  | $ | 464,860 |  | $ | 160,837 |  | $ | 41,898 |  | $ | — |  | $ | 667,595
Cost of revenues (2) |  |  | 68,908 |  |  | 49,040 |  |  | 32,391 |  |  | — |  |  | 150,339
Operating profit |  |  | 395,952 |  |  | 111,797 |  |  | 9,507 |  |  | — |  |  | 517,256
Selling, general, and administrative expenses |  |  | 32,114 |  |  | 15,258 |  |  | 2,849 |  |  | 9,866 |  |  | 60,087
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 3,496 |  |  | 1,892 |  |  | — |  |  | — |  |  | 5,388
Asset impairment and decommission costs |  |  | 1,337 |  |  | 10,989 |  |  | — |  |  | 344 |  |  | 12,670
Depreciation, amortization and accretion |  |  | 34,636 |  |  | 26,098 |  |  | 895 |  |  | 1,886 |  |  | 63,515
Operating income (loss) |  |  | 324,369 |  |  | 57,560 |  |  | 5,763 |  |  | (12,096) |  |  | 375,596
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (77,389) |  |  | (77,389)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 298,207
Cash capital expenditures (3) |  |  | 234,962 |  |  | 36,317 |  |  | 428 |  |  | 590 |  |  | 272,297
For the three months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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
‎
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the nine months ended September 30, 2024 |  | (in thousands)
Revenues (1) |  | $ | 1,389,563 |  | $ | 490,867 |  | $ | 105,504 |  | $ | — |  | $ | 1,985,934
Cost of revenues (2) |  |  | 200,368 |  |  | 146,525 |  |  | 82,705 |  |  | — |  |  | 429,598
Operating profit |  |  | 1,189,195 |  |  | 344,342 |  |  | 22,799 |  |  | — |  |  | 1,556,336
Selling, general, and administrative expenses |  |  | 100,070 |  |  | 46,741 |  |  | 10,219 |  |  | 34,131 |  |  | 191,161
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 11,883 |  |  | 7,496 |  |  | — |  |  | — |  |  | 19,379
Asset impairment and decommission costs |  |  | 45,075 |  |  | 42,086 |  |  | — |  |  | 767 |  |  | 87,928
Depreciation, amortization and accretion |  |  | 108,851 |  |  | 87,384 |  |  | 2,767 |  |  | 5,442 |  |  | 204,444
Operating income (loss) |  |  | 923,316 |  |  | 160,635 |  |  | 9,813 |  |  | (40,340) |  |  | 1,053,424
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (436,632) |  |  | (436,632)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 616,792
Cash capital expenditures (3) |  |  | 324,586 |  |  | 113,606 |  |  | 610 |  |  | 2,361 |  |  | 441,163
For the nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of September 30, 2024 |  | $ | 6,173,557 |  | $ | 3,641,169 |  | $ | 55,076 |  | $ | 331,861 |  | $ | 10,201,663
As of December 31, 2023 |  | $ | 5,876,648 |  | $ | 3,871,164 |  | $ | 66,001 |  | $ | 364,628 |  | $ | 10,178,441
(1)For the three months ended September 30, 2024 and 2023, site leasing revenue in Brazil was $89.3 million and $100.0 million, respectively. For the nine months ended September 30, 2024 and 2023, site leasing revenue in Brazil was $279.9 million and $293.6 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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