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Segment Data (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Data [Abstract] |
Schedule of Segment Reporting Information |
|  | 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.

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