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Property and Equipment, Net (Tables)
9 Months Ended
Sep. 30, 2025
Property and Equipment, Net [Abstract]  
Property and Equipment, Net

As of

As of

September 30, 2025

December 31, 2024

(in thousands)

Towers and related assets

$

6,451,935

$

5,902,092

Construction-in-process (1)

76,409

72,202

Furniture, equipment, and vehicles

95,048

84,629

Land, buildings, and improvements (2)

1,006,318

1,013,253

Total property and equipment

7,629,710

7,072,176

Less: accumulated depreciation

(4,334,089)

(4,280,092)

Property and equipment, net

$

3,295,621

$

2,792,084

(1)Construction-in-process represents costs incurred related to towers and other assets that are under development and will be used in the Company’s site leasing operations.

(2)Includes amounts related to the Company’s data centers.