2017 Q4 Form 10-K Financial Statement

#000103405419000002 Filed on February 28, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $443.1M $433.9M $427.3M
YoY Change 6.38% 5.51% 5.37%
Cost Of Revenue $114.5M $111.5M $109.3M
YoY Change 7.71% 5.66% 2.53%
Gross Profit $328.5M $322.5M $318.0M
YoY Change 5.9% 5.42% 6.35%
Gross Profit Margin 74.14% 74.31% 74.42%
Selling, General & Admin $30.50M $32.56M $33.40M
YoY Change -7.58% 0.8% -29.98%
% of Gross Profit 9.28% 10.1% 10.5%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $162.6M $65.00M $159.6M
YoY Change 2.52% -59.4% -0.06%
% of Gross Profit 49.5% 20.16% 50.19%
Operating Expenses $193.2M $32.56M $193.0M
YoY Change 0.84% -83.07% -6.94%
Operating Profit $119.1M $117.0M $114.6M
YoY Change 0.41% 3.0% 25.1%
Interest Expense -$89.70M -$84.50M -$81.20M
YoY Change 11.01% -2.2% -6.34%
% of Operating Profit -75.33% -72.22% -70.86%
Other Income/Expense, Net -$18.60M -$64.47M -$18.80M
YoY Change -985.71% 5761.09% -139.66%
Pretax Income $10.70M $52.54M $12.60M
YoY Change 1.9% -480.72% -63.69%
Income Tax -$28.50M $3.378M $3.400M
% Of Pretax Income -266.36% 6.43% 26.98%
Net Earnings $7.660M $49.16M $9.233M
YoY Change 44.53% -419.23% -71.76%
Net Earnings / Revenue 1.73% 11.33% 2.16%
Basic Earnings Per Share $0.07 $0.41 $0.08
Diluted Earnings Per Share $0.06 $0.41 $0.08
COMMON SHARES
Basic Shares Outstanding 119.7M 121.5M
Diluted Shares Outstanding 121.0M

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.80M $139.7M $164.5M
YoY Change -52.97% -15.54% 22.58%
Cash & Equivalents $68.78M $172.5M $164.5M
Short-Term Investments
Other Short-Term Assets $16.26M $84.40M $83.90M
YoY Change -81.69% -86.07% 5.93%
Inventory
Prepaid Expenses
Receivables $90.67M $99.90M $88.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $259.5M $324.1M $336.5M
YoY Change -20.05% -62.23% 15.52%
LONG-TERM ASSETS
Property, Plant & Equipment $2.812B $2.777B $2.774B
YoY Change 0.73% -0.1% -1.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $8.600M
YoY Change 6.17%
Other Assets $650.2M $648.4M $311.8M
YoY Change 135.07% 147.58% 23.53%
Total Long-Term Assets $7.061B $6.976B $6.972B
YoY Change 0.35% -1.15% -2.42%
TOTAL ASSETS
Total Short-Term Assets $259.5M $324.1M $336.5M
Total Long-Term Assets $7.061B $6.976B $6.972B
Total Assets $7.320B $7.301B $7.309B
YoY Change -0.55% -7.77% -1.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.33M $32.40M $29.20M
YoY Change 17.79% 35.56% 14.51%
Accrued Expenses $69.86M $104.7M $138.2M
YoY Change -33.84% 9.06% 23.84%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00M $773.3M $772.5M
YoY Change -96.81% 49.89% 35.79%
Total Short-Term Liabilities $278.9M $1.023B $1.046B
YoY Change -68.07% 38.43% 30.0%
LONG-TERM LIABILITIES
Long-Term Debt $9.291B $8.186B $7.906B
YoY Change 14.02% -3.87% -0.1%
Other Long-Term Liabilities $349.7M $350.0M $341.9M
YoY Change 4.4% 5.87% 5.17%
Total Long-Term Liabilities $9.640B $8.536B $8.248B
YoY Change 13.64% -3.51% 0.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $278.9M $1.023B $1.046B
Total Long-Term Liabilities $9.640B $8.536B $8.248B
Total Liabilities $9.919B $9.558B $9.295B
YoY Change 6.01% -0.28% 2.77%
SHAREHOLDERS EQUITY
Retained Earnings -$4.388B
YoY Change
Common Stock $1.164M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.599B -$2.258B -$1.986B
YoY Change
Total Liabilities & Shareholders Equity $7.320B $7.301B $7.309B
YoY Change -0.55% -7.77% -1.71%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $7.660M $49.16M $9.233M
YoY Change 44.53% -419.23% -71.76%
Depreciation, Depletion And Amortization $162.6M $65.00M $159.6M
YoY Change 2.52% -59.4% -0.06%
Cash From Operating Activities $227.0M $187.3M $231.9M
YoY Change 5.43% 8.58% 10.38%
INVESTING ACTIVITIES
Capital Expenditures -$40.70M -$36.90M -$33.70M
YoY Change 14.01% 9.82% -2.6%
Acquisitions $78.83M
YoY Change
Other Investing Activities -$273.5M -$85.40M -$50.70M
YoY Change 196.0% 130.19% -18.88%
Cash From Investing Activities -$314.2M -$122.3M -$84.30M
YoY Change 145.47% 72.74% -13.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 23.00M -93.50M -111.8M
YoY Change -103.7% -120.42% 22.86%
NET CHANGE
Cash From Operating Activities 227.0M 187.3M 231.9M
Cash From Investing Activities -314.2M -122.3M -84.30M
Cash From Financing Activities 23.00M -93.50M -111.8M
Net Change In Cash -64.20M -28.50M 35.80M
YoY Change -88.0% -105.09% 62.73%
FREE CASH FLOW
Cash From Operating Activities $227.0M $187.3M $231.9M
Capital Expenditures -$40.70M -$36.90M -$33.70M
Free Cash Flow $267.7M $224.2M $265.6M
YoY Change 6.65% 8.78% 8.54%

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt 0pt 0pt 24.45pt;text-indent: -24.5pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-size:10pt;">1.</font><font style="display: inline;font-weight:bold;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 18pt 0pt 0pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">GENERAL </font> </p> <p style="margin:5pt 0pt 0pt;text-indent:24.5pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">SBA Communications Corporation (the &#x201C;Company&#x201D; or &#x201C;SBAC&#x201D;) was incorporated in the State of Florida in March 1997. The Company is a holding company that holds all of the outstanding capital stock of SBA Telecommunications, LLC (&#x201C;Telecommunications&#x201D;). Telecommunications is a holding company that holds the outstanding capital stock of SBA Senior Finance, LLC (&#x201C;SBA Senior Finance&#x201D;), and other operating subsidiaries which are not a party to any loan agreement. SBA Senior Finance is a holding company that holds, directly or indirectly, the equity interest in certain subsidiaries that issued the Tower Securities (see Note 12) and certain subsidiaries that were not involved in the issuance of the Tower Securities. With respect to the subsidiaries involved in the issuance of the Tower Securities, SBA Senior Finance is the sole member of SBA Holdings, LLC and SBA Depositor, LLC. SBA Holdings, LLC is the sole member of SBA Guarantor, LLC. SBA Guarantor, LLC directly or indirectly holds all of the capital stock of the companies referred to as the &#x201C;Borrowers&#x201D; under the Tower Securities. With respect to subsidiaries not involved in the issuance of the Tower Securities, SBA Senior Finance holds all of the membership interests in SBA Senior Finance II, LLC (&#x201C;SBA Senior Finance II&#x201D;) and certain non-operating subsidiaries. SBA Senior Finance II holds, directly or indirectly, all the capital stock of certain international subsidiaries and certain other tower companies (known as &#x201C;Tower Companies&#x201D;). SBA Senior Finance II also holds, directly or indirectly, all the capital stock and/or membership interests of certain other subsidiaries involved in providing services, including SBA Network Services, LLC (&#x201C;Network Services&#x201D;) as well as SBA Network Management, Inc. (&#x201C;Network Management&#x201D;) which manages and administers the operations of the Borrowers. </font><font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font> </p> <p style="margin:5pt 0pt 0pt;text-indent:24.5pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">As of </font><font style="display: inline;font-size:10pt;">December 31, 2018</font><font style="display: inline;font-size:10pt;">, the Company owned and operated wireless towers in the United States and its territories. In addition, the Company owned towers in </font><font style="display: inline;font-size:10pt;">Argentina, </font><font style="display: inline;font-size:10pt;">Brazil, Canada, </font><font style="display: inline;font-size:10pt;">Chile, Colombia, </font><font style="display: inline;font-size:10pt;">Costa Rica, Ecuador, El Salvador, Guatemala, Nicaragua, Panama</font><font style="display: inline;font-size:10pt;">, and Peru</font><font style="display: inline;font-size:10pt;">. Space on these towers is leased primarily to wireless service providers. As of </font><font style="display: inline;font-size:10pt;">December 31, 2018</font><font style="display: inline;font-size:10pt;">, the Company owned and operated </font><font style="display: inline;font-size:10pt;">29,578</font><font style="display: inline;font-size:10pt;"> towers of which </font><font style="display: inline;font-size:10pt;">16,263</font><font style="display: inline;font-size:10pt;"> are domestic and </font><font style="display: inline;font-size:10pt;">13,315</font><font style="display: inline;font-size:10pt;"> are international.</font> </p> <p><font size="1"> </font></p> </div> </div>
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CY2017 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
397000
CY2018 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
156983000
CY2016 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
418203000
CY2017 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
588845000
CY2018 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
602680000
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
139982000
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
147044000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
149812000
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
49716000
CY2018 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
150900000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
63126000
CY2017Q4 us-gaap Prepaid Rent
PrepaidRent
220493000
CY2018Q4 us-gaap Prepaid Rent
PrepaidRent
263694000
CY2018 us-gaap Proceeds From Issuance Of Other Long Term Debt
ProceedsFromIssuanceOfOtherLongTermDebt
2377218000
CY2016 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
690475000
CY2017 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
749764000
CY2018 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
631466000
CY2016 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
1078123000
CY2017 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
741108000
CY2016 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
580000000
CY2017 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
525000000
CY2018 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
1120000000
CY2016 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
8394000
CY2017 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
49088000
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
55360000
CY2016 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
712000
CY2017 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
231000
CY2018 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
150890000
CY2017 us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
200000
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
27400000
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
56500000
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
74700000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5491126000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5710350000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2812346000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2786355000
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
22516000
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2909000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
551000
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
2160530000
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
2396587000
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
2627841000
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
2868507000
CY2016 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
5557000
CY2018 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
25000
CY2017 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
513000
CY2018 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
12436000
CY2016 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
24482000
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
17051000
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
4392000
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
7428000000
CY2016 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
12842000
CY2017 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
1027000
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
1083000
CY2015Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
4839874000
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
5079660000
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
5340858000
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
5561005000
CY2016 us-gaap Real Estate Improvements
RealEstateImprovements
37861000
CY2017 us-gaap Real Estate Improvements
RealEstateImprovements
43288000
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
49201000
CY2016 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
72456000
CY2017 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
112979000
CY2018 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
131686000
CY2016 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
45829000
CY2017 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
1350000
CY2018 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
63844000
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
190000000
CY2017 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
875000000
CY2018 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
835000000
CY2016 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
20000000
CY2017 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
20000000
CY2018 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
1947000000
CY2016 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
550000000
CY2017 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
610000000
CY2018 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
755000000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
32924000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
138000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
32464000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4388288000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-5136368000
CY2016 us-gaap Revenues
Revenues
1633125000
CY2017Q1 us-gaap Revenues
Revenues
423362000
CY2017 us-gaap Revenues
Revenues
1727674000
CY2017Q2 us-gaap Revenues
Revenues
427294000
CY2017Q3 us-gaap Revenues
Revenues
433945000
CY2017Q4 us-gaap Revenues
Revenues
443073000
CY2018Q1 us-gaap Revenues
Revenues
458303000
CY2018 us-gaap Revenues
Revenues
1865695000
CY2018Q2 us-gaap Revenues
Revenues
456322000
CY2018Q3 us-gaap Revenues
Revenues
467221000
CY2018Q4 us-gaap Revenues
Revenues
483849000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
156.61
CY2016 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
254982000
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
248818000
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
257469000
CY2018 us-gaap Sec Schedule Iii Real Estate Number Of Units
SECScheduleIIIRealEstateNumberOfUnits
29578
CY2016 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
34492000
CY2017 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
34101000
CY2018 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
17130000
CY2018Q4 us-gaap Secured Debt
SecuredDebt
7400000000
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
143349000
CY2017 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
130697000
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
142526000
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
32915000
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
38249000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
42327000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
13000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
135.22
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
81.73
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0197
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
84.66
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
328000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
324000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
110.20
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
128.69
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
129000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
110.93
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.007
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y8M12D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y7M6D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y7M6D
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.200
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.200
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.216
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0143
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0292
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0111
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0170
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0257
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
133490000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2162000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
100.15
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
36800000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
37200000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
78000000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
101000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
67000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
41000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1357000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1171000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
941000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
19.19
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
23.88
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
33.01
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2654000
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
126.17
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
228248000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3794000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4447000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4842000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4816000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
93.09
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
100.12
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
114.48
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y2M12D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y1M6D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
18500000
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
21400000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
24000000
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
46.03
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
80.73
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
124448000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
119860000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114909000
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
105.37
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
105.81
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
123.98
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
96.64
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
115.41
CY2018 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
156.55
CY2018Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
2162000
CY2018Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
4816000
CY2018Q4 us-gaap Share Price
SharePrice
161.89
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-1706144000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
-1995921000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
-2599114000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-3376823000
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
603000
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
709000
CY2018 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
926000
CY2017 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
63313000
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
14410000
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
54806000
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
59726000
CY2016 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
545689000
CY2017 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
854534000
CY2018 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
795581000
CY2018Q4 us-gaap Tax Credit Carryforward Valuation Allowance
TaxCreditCarryforwardValuationAllowance
12300000
CY2017Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
7125000
CY2018Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
7928000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:5pt 0pt 0pt 24.45pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;font-size:10pt;">Use of Estimates </font> </p> <p style="margin:5pt 0pt 0pt;text-indent:24.5pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-size:10pt;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The significant estimates made by management relate to the allowance for doubtful accounts, the costs and revenue relating to the Company&#x2019;s construction contracts, stock-based compensation assumptions, valuation allowance related to deferred tax assets, fair value of long-lived assets, the useful lives of towers and intangible assets, anticipated property tax assessments, fair value of investments and asset retirement obligations. Management develops estimates based on historical experience and on various assumptions about the future that are believed to be reasonable based on the information available. These estimates ultimately may differ from actual results and such differences could be material. </font> </p> <p><font size="1"> </font></p> </div> </div>
CY2017Q4 us-gaap Us Government Securities At Carrying Value
USGovernmentSecuritiesAtCarryingValue
200000
CY2018Q4 us-gaap Us Government Securities At Carrying Value
USGovernmentSecuritiesAtCarryingValue
200000
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
31400000
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-11800000
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125144000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
121022000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
116515000

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