Segment Data (Tables)

9 Months Ended

Sep. 30, 2024

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.