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Segment Data | 12 Months Ended
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Dec. 31, 2024
Segment Data [Abstract] |
Segment Data | 15.SEGMENT DATA The Company operates principally in two business segments: site leasing and site development. The Company’s site leasing business includes two reportable segments, domestic site leasing and international site leasing. The Company’s business segments are strategic business units that offer different services. They are managed separately based on the fundamental differences in their operations. The site leasing segment includes results of the managed and sublease businesses. The site development segment includes the results of both consulting and construction related activities. The Company’s CODM is the Company’s Chief Executive Officer. The CODM utilizes segment operating profit and operating income as his two measures of segment profit in assessing performance and allocating resources at the reportable segment level. The Company has applied the aggregation criteria to operations within the international site leasing segment on a basis that is consistent with management’s review of information and performance evaluations of the individual markets in this region. Revenues, cost of revenues (exclusive of depreciation, accretion and amortization), capital expenditures (including assets acquired through the issuance of shares of the Company’s Class A common stock) and identifiable assets pertaining to the segments in which the Company continues to operate are presented below.
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other |  | Total
For the year ended December 31, 2024 |  | (in thousands)
Revenues (1) |  | $ | 1,861,424 |  | $ | 665,341 |  | $ | 152,869 |  | $ | — |  | $ | 2,679,634
Cost of revenues (2) |  |  | 269,168 |  |  | 193,829 |  |  | 118,730 |  |  | — |  |  | 581,727
Operating profit |  |  | 1,592,256 |  |  | 471,512 |  |  | 34,139 |  |  | — |  |  | 2,097,907
Selling, general, and administrative expenses |  |  | 132,627 |  |  | 64,583 |  |  | 13,983 |  |  | 47,563 |  |  | 258,756
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 14,954 |  |  | 10,992 |  |  | — |  |  | — |  |  | 25,946
Asset impairment and decommission costs |  |  | 49,777 |  |  | 57,030 |  |  | — |  |  | 1,118 |  |  | 107,925
Depreciation, amortization and accretion |  |  | 145,041 |  |  | 113,549 |  |  | 3,560 |  |  | 7,367 |  |  | 269,517
Operating income (loss) |  |  | 1,249,857 |  |  | 225,358 |  |  | 16,596 |  |  | (56,048) |  |  | 1,435,763
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (663,097) |  |  | (663,097)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 772,666
Cash capital expenditures (3) |  |  | 374,339 |  |  | 150,345 |  |  | 1,014 |  |  | 2,598 |  |  | 528,296
For the year ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 1,846,554 |  | $ | 670,381 |  | $ | 194,649 |  | $ | — |  | $ | 2,711,584
Cost of revenues (2) |  |  | 268,572 |  |  | 204,115 |  |  | 139,935 |  |  | — |  |  | 612,622
Operating profit |  |  | 1,577,982 |  |  | 466,266 |  |  | 54,714 |  |  | — |  |  | 2,098,962
Selling, general, and administrative expenses |  |  | 121,782 |  |  | 66,619 |  |  | 21,316 |  |  | 58,219 |  |  | 267,936
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 10,725 |  |  | 10,946 |  |  | — |  |  | — |  |  | 21,671
Asset impairment and decommission costs |  |  | 138,699 |  |  | 28,089 |  |  | 372 |  |  | 2,227 |  |  | 169,387
Depreciation, amortization and accretion |  |  | 457,169 |  |  | 248,758 |  |  | 3,704 |  |  | 6,678 |  |  | 716,309
Operating income (loss) |  |  | 849,607 |  |  | 111,854 |  |  | 29,322 |  |  | (67,124) |  |  | 923,659
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (375,156) |  |  | (375,156)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 548,503
Cash capital expenditures (3) |  |  | 244,366 |  |  | 118,972 |  |  | 2,573 |  |  | 2,702 |  |  | 368,613
For the year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues (1) |  | $ | 1,777,593 |  | $ | 558,982 |  | $ | 296,879 |  | $ | — |  | $ | 2,633,454
Cost of revenues (2) |  |  | 264,149 |  |  | 181,536 |  |  | 222,965 |  |  | — |  |  | 668,650
Operating profit |  |  | 1,513,444 |  |  | 377,446 |  |  | 73,914 |  |  | — |  |  | 1,964,804
Selling, general, and administrative expenses |  |  | 102,619 |  |  | 62,911 |  |  | 22,911 |  |  | 73,412 |  |  | 261,853
Acquisition and new business initiatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
related adjustments and expenses |  |  | 13,280 |  |  | 13,527 |  |  | — |  |  | — |  |  | 26,807
Asset impairment and decommission costs |  |  | 33,880 |  |  | 9,280 |  |  | — |  |  | — |  |  | 43,160
Depreciation, amortization and accretion |  |  | 489,072 |  |  | 209,563 |  |  | 2,521 |  |  | 6,420 |  |  | 707,576
Operating income (loss) |  |  | 874,593 |  |  | 82,165 |  |  | 48,482 |  |  | (79,832) |  |  | 925,408
Other expense, net (principally interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
expense and other income) |  |  |  |  |  |  |  |  |  |  |  | (399,565) |  |  | (399,565)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 525,843
Cash capital expenditures (3) |  |  | 235,787 |  |  | 1,148,941 |  |  | 4,057 |  |  | 5,610 |  |  | 1,394,395
|  | Domestic Site |  | Int'l Site |  | Site |  |  |  |
|  | Leasing |  | Leasing |  | Development |  | Other (4) |  | Total
Assets |  | (in thousands)
As of December 31, 2024 |  | $ | 6,206,748 |  | $ | 3,417,981 |  | $ | 65,481 |  | $ | 1,727,126 |  | $ | 11,417,336
As of December 31, 2023 |  | $ | 5,876,648 |  | $ | 3,871,164 |  | $ | 66,001 |  | $ | 364,628 |  | $ | 10,178,441
(1)For the years ended December 31, 2024, 2023, and 2022, site leasing revenue in Brazil was $379.8 million, $392.0 million, and $299.5 million, respectively. Other than Brazil, no foreign country represented more than 5% of the Company’s total site leasing revenues in any of the periods presented. (2)Excludes depreciation, amortization, and accretion. Cost of revenues is primarily comprised of rent expense related to the Company’s leases. (3)Includes cash paid for capital expenditures, acquisitions, and right-of-use assets. (4)Assets in Other consist primarily of general corporate assets, short-term investments. Assets in Other for the period ended December 31, 2024 also includes $1.165 billion of cash held in escrow which was used to repay the 2019-1C Tower Securities. Total domestic long-lived assets were $5.7 billion and $5.4 billion as of December 31, 2024 and 2023, respectively. Total international long-lived assets were $3.0 billion and $3.4 billion as of December 31, 2024 and 2023, respectively. Total long-lived assets in Brazil were $1.7 billion and $2.1 billion as of December 31, 2024 and 2023, respectively. Long-lived assets include property and equipment, net, intangible assets, net, operating lease right-of-use assets, net, and acquired and other right-of-use assets, net. Other than Brazil, no foreign country represented more than 5% of the Company’s total long-lived assets in any of the periods presented.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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