2024 Q2 Form 10-Q Financial Statement

#000105147024000143 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $1.626B $1.641B
YoY Change -12.91% -7.45%
Cost Of Revenue $459.0M $34.00M
YoY Change -12.07% -93.45%
Gross Profit $1.167B $1.607B
YoY Change -13.23% 28.15%
Gross Profit Margin 71.77% 97.93%
Selling, General & Admin $204.0M $183.0M
YoY Change -2.86% -6.15%
% of Gross Profit 17.48% 11.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $430.0M $439.0M
YoY Change -3.37% 1.86%
% of Gross Profit 36.85% 27.32%
Operating Expenses $634.0M $183.0M
YoY Change -3.21% -70.77%
Operating Profit $533.0M $538.0M
YoY Change -22.75% -14.33%
Interest Expense -$226.0M -$222.0M
YoY Change 11.33% 11.0%
% of Operating Profit -42.4% -41.26%
Other Income/Expense, Net -$1.000M $2.000M
YoY Change -50.0% -166.67%
Pretax Income $258.0M $318.0M
YoY Change -44.16% -25.18%
Income Tax $7.000M $7.000M
% Of Pretax Income 2.71% 2.2%
Net Earnings $251.0M $311.0M
YoY Change -44.84% -25.6%
Net Earnings / Revenue 15.44% 18.95%
Basic Earnings Per Share $0.58 $0.72
Diluted Earnings Per Share $0.58 $0.71
COMMON SHARES
Basic Shares Outstanding 434.5M shares 434.2M shares
Diluted Shares Outstanding 435.0M shares 435.0M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $155.0M $125.0M
YoY Change -43.84% -33.16%
Cash & Equivalents $155.0M $125.0M
Short-Term Investments
Other Short-Term Assets $377.0M $51.00M
YoY Change -18.04% -88.62%
Inventory
Prepaid Expenses $155.0M $130.0M
Receivables $420.0M $380.0M
Other Receivables $129.0M $123.0M
Total Short-Term Assets $1.081B $977.0M
YoY Change -19.87% -26.26%
LONG-TERM ASSETS
Property, Plant & Equipment $21.63B $15.68B
YoY Change -1.49% -28.66%
Goodwill $10.09B $10.09B
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $137.0M $137.0M
YoY Change 0.74% 2.24%
Total Long-Term Assets $37.17B $37.25B
YoY Change -1.4% -1.26%
TOTAL ASSETS
Total Short-Term Assets $1.081B $977.0M
Total Long-Term Assets $37.17B $37.25B
Total Assets $38.25B $38.23B
YoY Change -2.04% -2.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $225.0M $216.0M
YoY Change -6.25% -7.3%
Accrued Expenses $895.0M $752.0M
YoY Change 2.52% -1.31%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $865.0M $854.0M
YoY Change 5.62% 4.27%
Total Short-Term Liabilities $2.494B $2.336B
YoY Change -8.48% -7.85%
LONG-TERM LIABILITIES
Long-Term Debt $22.85B $22.56B
YoY Change 5.81% 4.87%
Other Long-Term Liabilities $7.246B $1.890B
YoY Change -5.55% -75.72%
Total Long-Term Liabilities $30.10B $1.890B
YoY Change 2.83% -93.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.494B $2.336B
Total Long-Term Liabilities $30.10B $1.890B
Total Liabilities $32.59B $32.18B
YoY Change 1.87% 1.11%
SHAREHOLDERS EQUITY
Retained Earnings -$12.69B -$12.26B
YoY Change 13.8% 12.19%
Common Stock $4.000M $4.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.652B $6.048B
YoY Change
Total Liabilities & Shareholders Equity $38.25B $38.23B
YoY Change -2.04% -2.11%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $251.0M $311.0M
YoY Change -44.84% -25.6%
Depreciation, Depletion And Amortization $430.0M $439.0M
YoY Change -3.37% 1.86%
Cash From Operating Activities $768.0M $599.0M
YoY Change -31.43% -1.16%
INVESTING ACTIVITIES
Capital Expenditures $329.0M $320.0M
YoY Change -13.19% -6.16%
Acquisitions $1.000M
YoY Change -98.51%
Other Investing Activities -$1.000M -$1.000M
YoY Change -95.0% -98.48%
Cash From Investing Activities -$330.0M -$320.0M
YoY Change -17.29% -21.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -405.0M -$261.0M
YoY Change -34.57% 87.77%
NET CHANGE
Cash From Operating Activities 768.0M $599.0M
Cash From Investing Activities -330.0M -$320.0M
Cash From Financing Activities -405.0M -$261.0M
Net Change In Cash 33.00M $18.00M
YoY Change -67.65% -70.0%
FREE CASH FLOW
Cash From Operating Activities $768.0M $599.0M
Capital Expenditures $329.0M $320.0M
Free Cash Flow $439.0M $279.0M
YoY Change -40.76% 5.28%

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CY2024Q1 us-gaap Interest Expense Debt
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CY2023Q1 us-gaap Interest Expense Debt
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CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q1 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
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CY2024Q1 cci Restricted Cash And Cash Equivalents Fair Value Disclosure
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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2023Q4 cci Restricted Cash And Cash Equivalents Fair Value Disclosure
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CY2024Q1 us-gaap Debt And Capital Lease Obligations
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CY2024Q1 us-gaap Fair Value Liabilities Measured On Recurring Basis Obligations
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CY2023Q4 us-gaap Debt And Capital Lease Obligations
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CY2023Q4 us-gaap Fair Value Liabilities Measured On Recurring Basis Obligations
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CY2024Q1 us-gaap Net Income Loss
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CY2023Q1 us-gaap Net Income Loss
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CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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434000000 shares
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1000000 shares
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q1 us-gaap Earnings Per Share Basic
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0.72
CY2024Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Earnings Per Share Basic
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CY2023Q1 us-gaap Earnings Per Share Basic
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CY2024Q1 us-gaap Earnings Per Share Diluted
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0.71
CY2024Q1 us-gaap Earnings Per Share Diluted
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CY2023Q1 us-gaap Earnings Per Share Diluted
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0.97
CY2023Q1 us-gaap Earnings Per Share Diluted
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0.97
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
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1.565
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2024Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
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CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.565
CY2024Q1 us-gaap Dividends Common Stock Cash
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683000000 usd
CY2024Q1 us-gaap Stock Repurchased During Period Shares
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300000 shares
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2023Q4 cci At The Market Stock Offering Program Aggregate Value Of Common Stock
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750000000 usd
CY2024Q1 cci At The Market Stock Offering Program Terminated2021 Program Remaining Unsold
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750000000 usd
CY2024Q1 cci Availability Under2024 Atm Program
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750000000 usd
CY2024Q1 cci Tower Count
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40000
CY2024Q1 cci Small Cells On Air Or Under Contract
SmallCellsOnAirOrUnderContract
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CY2024Q1 cci Fiber Miles
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90000
CY2024Q1 cci Amortization Of Prepaid Lease Purchase Price Adjustments
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CY2023Q1 cci Amortization Of Prepaid Lease Purchase Price Adjustments
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CY2024Q1 us-gaap Operating Lease Payments
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CY2023Q1 us-gaap Operating Lease Payments
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CY2024Q1 us-gaap Interest Paid Net
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282000000 usd
CY2023Q1 us-gaap Interest Paid Net
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249000000 usd
CY2024Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 us-gaap Income Taxes Paid Net
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CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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30000000 usd
CY2024Q1 cci Increase Decreaseinaccountspayableforpurchasesofpropertyandequipment
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CY2023Q1 cci Increase Decreaseinaccountspayableforpurchasesofpropertyandequipment
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2000000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
6000000 usd
CY2024Q1 cci Purchaseofpropertyandequipmentundercapitalleasesandinstallmentpurchases
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CY2023Q1 cci Purchaseofpropertyandequipmentundercapitalleasesandinstallmentpurchases
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21000000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
125000000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2024Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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168000000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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171000000 usd
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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5000000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
298000000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
281000000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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cci-20240331.htm Edgar Link pending
cci-20240331.xsd Edgar Link pending
cci-20240331_cal.xml Edgar Link unprocessable
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