2013 Q1 Form 10-K Financial Statement

#000119312513080059 Filed on February 27, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q4 2012
Revenue $313.1M $293.8M $954.1M
YoY Change 62.64% 59.85% 36.65%
Cost Of Revenue $100.7M $89.40M $187.0K
YoY Change 92.93% 77.73% 0.0%
Gross Profit $212.4M $204.4M $953.9M
YoY Change 51.38% 52.99% 36.66%
Gross Profit Margin 67.84% 69.56% 99.98%
Selling, General & Admin $20.43M $19.60M $72.15M
YoY Change 18.68% 24.05% 14.83%
% of Gross Profit 9.62% 9.59% 7.56%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $63.50M $131.4M $219.5M
YoY Change 39.25% 65.49% 24.86%
% of Gross Profit 29.9% 64.29% 23.01%
Operating Expenses $20.43M $151.0M $72.15M
YoY Change 18.68% 58.61% 14.83%
Operating Profit $56.77M $31.05M $147.1M
YoY Change 40.89% -2.91% 32.97%
Interest Expense $59.47M -$80.20M $196.2M
YoY Change 40.75% 79.82% 21.97%
% of Operating Profit 104.76% -258.31% 133.36%
Other Income/Expense, Net -$79.78M $400.0K -$324.2M
YoY Change 29.49% -102.47% 37.72%
Pretax Income -$23.02M -$50.70M -$175.7M
YoY Change 7.94% 76.04% 48.04%
Income Tax -$641.0K $1.800M $6.594M
% Of Pretax Income
Net Earnings -$22.38M -$52.49M -$181.0M
YoY Change -1.13% 80.49% 43.16%
Net Earnings / Revenue -7.15% -17.86% -18.97%
Basic Earnings Per Share
Diluted Earnings Per Share -$176.2K -$414.4K -$1.505M
COMMON SHARES
Basic Shares Outstanding 127.0M shares 126.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q1 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments $126.4M $238.6M $238.6M
YoY Change -76.21% 349.34% 349.34%
Cash & Equivalents $122.2M $233.1M $233.1M
Short-Term Investments $4.200M $5.500M $5.500M
Other Short-Term Assets $67.20M $87.50M $87.50M
YoY Change 107.41% 139.73% 139.73%
Inventory
Prepaid Expenses $40.33M $39.54M
Receivables $49.46M $39.10M $62.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $269.9M $368.6M $388.9M
YoY Change -55.35% 184.92% 200.54%
LONG-TERM ASSETS
Property, Plant & Equipment $2.655B $2.671B $2.671B
YoY Change 68.57% 68.71% 68.71%
Goodwill
YoY Change
Intangibles $3.085B $3.134B
YoY Change 91.13%
Long-Term Investments $52.90M
YoY Change 6.87%
Other Assets $375.5M $355.3M $252.3M
YoY Change 43.16% 67.74% 80.21%
Total Long-Term Assets $6.180B $6.227B $6.227B
YoY Change 77.48% 79.09% 79.09%
TOTAL ASSETS
Total Short-Term Assets $269.9M $368.6M $388.9M
Total Long-Term Assets $6.180B $6.227B $6.227B
Total Assets $6.450B $6.596B $6.616B
YoY Change 57.83% 82.89% 83.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.71M $27.69M $27.70M
YoY Change 73.39% 117.12% 116.41%
Accrued Expenses $39.41M $42.05M $88.30M
YoY Change -11.23% 77.09% 57.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $478.5M $475.4M $475.4M
YoY Change 9469.08% 9407.02% 9408.0%
Total Short-Term Liabilities $675.1M $863.7M $863.7M
YoY Change 492.75% 580.71% 580.61%
LONG-TERM LIABILITIES
Long-Term Debt $4.885B $4.881B $4.893B
YoY Change 37.03% 45.72% 45.55%
Other Long-Term Liabilities $192.8M $186.5M $206.8M
YoY Change 41.84% 44.24% 59.94%
Total Long-Term Liabilities $5.078B $5.067B $5.099B
YoY Change 37.21% 45.66% 46.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $675.1M $863.7M $863.7M
Total Long-Term Liabilities $5.078B $5.067B $5.099B
Total Liabilities $5.753B $5.931B $5.963B
YoY Change 50.33% 64.49% 64.83%
SHAREHOLDERS EQUITY
Retained Earnings -$2.485B -$2.462B
YoY Change 7.94%
Common Stock $1.273M $1.269M
YoY Change 15.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $696.6M $653.0M $653.0M
YoY Change
Total Liabilities & Shareholders Equity $6.450B $6.596B $6.616B
YoY Change 57.83% 82.89% 83.45%

Cashflow Statement

Concept 2013 Q1 2012 Q4 2012
OPERATING ACTIVITIES
Net Income -$22.38M -$52.49M -$181.0M
YoY Change -1.13% 80.49% 43.16%
Depreciation, Depletion And Amortization $63.50M $131.4M $219.5M
YoY Change 39.25% 65.49% 24.86%
Cash From Operating Activities $94.23M $103.3M $340.9M
YoY Change 42.68% 64.75% 36.88%
INVESTING ACTIVITIES
Capital Expenditures $36.42M -$38.80M $113.3M
YoY Change 46.56% 28.48% -10.77%
Acquisitions $209.5M $2.259B
YoY Change 309.68% 495.45%
Other Investing Activities -$1.308M -$1.271B $3.131M
YoY Change 1089.09% 645.51% 92.09%
Cash From Investing Activities -$244.7M -$1.310B -$2.275B
YoY Change 222.38% 552.99% 347.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $283.9M
YoY Change 26.12%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.80M -2.700M 2.116B
YoY Change -92.26% -145.76% 774.38%
NET CHANGE
Cash From Operating Activities 94.23M 103.3M 340.9M
Cash From Investing Activities -244.7M -1.310B -2.275B
Cash From Financing Activities 37.80M -2.700M 2.116B
Net Change In Cash -112.6M -1.209B 182.3M
YoY Change -123.55% 816.14% -1186.07%
FREE CASH FLOW
Cash From Operating Activities $94.23M $103.3M $340.9M
Capital Expenditures $36.42M -$38.80M $113.3M
Free Cash Flow $57.81M $142.1M $227.6M
YoY Change 40.34% 52.96% 86.41%

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CY2012 dei Entity Current Reporting Status
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CY2011 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2012 dei Amendment Flag
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CY2012 dei Entity Filer Category
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CY2012 dei Entity Voluntary Filers
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CY2012 us-gaap Operating Leases Rent Expense Contingent Rentals
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16100000
CY2012 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-1.53
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
57900000
CY2012 us-gaap Interest Paid
InterestPaid
182474000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
49000000
CY2012 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-183686000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
47.58
CY2012 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1096206000
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
330000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
185783000
CY2012 us-gaap Operating Leases Income Statement Initial Direct Costs
OperatingLeasesIncomeStatementInitialDirectCosts
188951000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2702000
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
133100000
CY2012 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
555378000
CY2012 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-281795000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
147146000
CY2012 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5317000
CY2012 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
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P5Y1M6D
CY2012 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14202000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
37.71
CY2012 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
279507000
CY2012 us-gaap Nature Of Operations
NatureOfOperations
<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="3%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1.</b></font></td> <td valign="top" width="1%"><font size="1">&#xA0;</font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>GENERAL</b></font></td> </tr> </table> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">SBA Communications Corporation (the &#x201C;Company&#x201D; or &#x201C;SBA&#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 (formerly known as SBA Telecommunications, Inc.), (&#x201C;Telecommunications&#x201D;). Telecommunications is a holding company that holds the outstanding capital stock of SBA Senior Finance, LLC (formerly known as SBA Senior Finance, Inc.), (&#x201C;SBA Senior Finance&#x201D;) and SBA Towers IV, an operating subsidiary that is not a party to any loan agreement. SBA Towers IV also owns the interest in our Brazilian subsidiaries. SBA Senior Finance is a holding company that holds, directly or indirectly, the equity interest in certain subsidiaries that issued the Secured Tower Revenue Securities Series 2010-1 (the &#x201C;2010-1 Tower Securities&#x201D;), the Secured Tower Revenue Securities Series 2010-2 (the &#x201C;2010-2 Tower Securities&#x201D; and together with the 2010-1 Tower Securities, the &#x201C;2010 Tower Securities&#x201D;) and the Secured Tower Revenue Securities Series 2012-1 (the &#x201C;2012-1 Tower Securities&#x201D; and together with the 2010 Tower Securities, the &#x201C;Tower Securities&#x201D;) and certain subsidiaries that were not involved in the issuance of the SBA Tower Securities. With respect to the subsidiaries involved in the issuance of the SBA 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 holds all of the capital stock of the companies referred to as the &#x201C;Borrowers&#x201D; under the SBA Tower Securities (see Note 13). With respect to subsidiaries not involved in the issuance of the SBA 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 of the International subsidiaries, with the exception of our Brazilian subsidiary, 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 (formerly known as SBA Network Services, Inc.), (&#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></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The table below outlines the legal structure of the Company at December&#xA0;31, 2012:</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 6px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align="center"> LOGO</p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">As of December&#xA0;31, 2012, the Company owned and operated wireless communications towers in the United States and its territories. In addition, the Company owned towers in Brazil, Canada, Costa Rica, El Salvador, Guatemala, Nicaragua, and Panama. Space on these towers is leased primarily to wireless service providers. As of December&#xA0;31, 2012, the Company owned 17,491 tower sites.</font></p> </div>
CY2012 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
2306000
CY2012 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
300000000
CY2012 us-gaap Line Of Credit Facility Description
LineOfCreditFacilityDescription
The Company does not believe its credit risk has changed materially from the date the applicable Eurodollar Rate plus 187.5 basis points was set for the Revolving Credit Facility
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y1M6D
CY2012 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
300000
CY2012 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
408467000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1360000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
-181037000
CY2012 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-324238000
CY2012 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
18804000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
613000 shares
CY2012 us-gaap Costs And Expenses
CostsAndExpenses
806938000
CY2012 us-gaap Impairment Charge On Reclassified Assets
ImpairmentChargeOnReclassifiedAssets
6400000
CY2012 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-835000
CY2012 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-353000
CY2012 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
846094000
CY2012 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
70110000
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2116412000
CY2012 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
68612000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.530 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
44.19
CY2012 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
596083000
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2012 us-gaap Asset Retirement Obligation Accretion Expense
AssetRetirementObligationAccretionExpense
-333000
CY2012 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8251000
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-179084000
CY2012 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
484000000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
-1237000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
68000 shares
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
82759000
CY2012 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
1000000
CY2012 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
13882000
CY2012 us-gaap Revenues
Revenues
954084000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0083 pure
CY2012 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3102000
CY2012 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
72148000
CY2012 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P15Y
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6594000
CY2012 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
1212000
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
31152000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
1000 shares
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-353000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
138000 shares
CY2012 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
31152000
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
0.02
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
283872000
CY2012 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
113265000
CY2012 us-gaap Line Of Credit Facility Increase Additional Borrowings
LineOfCreditFacilityIncreaseAdditionalBorrowings
200000000
CY2012 us-gaap Asset Retirement Obligation Liabilities Settled
AssetRetirementObligationLiabilitiesSettled
475000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
188700000
CY2012 us-gaap Interest Expense
InterestExpense
196241000
CY2012 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-7181000
CY2012 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
17300000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5234000
CY2012 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
2296000
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
3769000
CY2012 us-gaap Depreciation
Depreciation
219500000
CY2012 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
3131000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13968000
CY2012 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-1000
CY2012 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
1878000
CY2012 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-178731000
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">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> </div>
CY2012 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
400000000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
20.31
CY2012 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-51799000
CY2012 sbac Supplemental Assets Acquired Under Capital Leases
SupplementalAssetsAcquiredUnderCapitalLeases
2509000
CY2012 sbac Share Based Compensation Arrangement Number Of Share Based Compensation Plans
ShareBasedCompensationArrangementNumberOfShareBasedCompensationPlans
Two
CY2012 sbac Weighted Average Period To Recognize Cost
WeightedAveragePeriodToRecognizeCost
P2Y5M1D
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
283872000
CY2012 sbac Weighted Average Period To Recognized Unrecognized Cost Of Unvested Restricted Stocks
WeightedAveragePeriodToRecognizedUnrecognizedCostOfUnvestedRestrictedStocks
P3Y2M19D
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000 pure
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-61982000
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-53501000
CY2012 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px; MARGIN-LEFT: 4%"> <font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Revenue Recognition</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Revenue from site leasing is recorded monthly and recognized on a straight-line basis over the current term of the related lease agreements, which are generally five to ten years. Receivables recorded related to the straight-lining of site leases are reflected in other assets on the Consolidated Balance Sheets. Rental amounts received in advance are recorded as deferred revenue on the Consolidated Balance Sheets.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Site development projects in which the Company performs consulting services include contracts on a time and materials basis or a fixed price basis. Time and materials based contracts are billed at contractual rates as the services are rendered. For those site development contracts in which the Company performs work on a fixed price basis, site development billing (and revenue recognition) is based on the completion of agreed upon phases of the project on a per site basis. Upon the completion of each phase on a per site basis, the Company recognizes the revenue related to that phase. Site development projects generally take from 3 to 12 months to complete.</font></p> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px; FONT-SIZE: 1px"> &#xA0;</p> <p style="MARGIN-TOP: 0px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Revenue from construction projects is recognized on the percentage-of-completion method of accounting, determined by the percentage of cost incurred to date compared to management&#x2019;s estimated total cost for each contract. This method is used because management considers total cost to be the best available measure of progress on the contracts. These amounts are based on estimates, and the uncertainty inherent in the estimates initially is reduced as work on the contracts nears completion. The asset &#x201C;costs and estimated earnings in excess of billings on uncompleted contracts&#x201D; represents costs incurred and revenues recognized in excess of amounts billed. The liability &#x201C;billings in excess of costs and estimated earnings on uncompleted contracts,&#x201D; included within other current liabilities on the Company&#x2019;s Consolidated Balance Sheets, represents billings in excess of costs incurred and revenues recognized. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined to be probable.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 13%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">On October&#xA0;31, 2011, the Company entered into a Master Amendment with one of its wireless service provider customers. The Master Amendment serves as a separate amendment to each individual existing tenant lease agreement that the Company is currently a party to with that customer. Among other items, the Master Amendment (1)&#xA0;extends the current term of the individual leases, (2)&#xA0;permits the customer limited early termination rights which will be exercisable over a multi-year period, commencing in the second half of 2013, on a specific number of the existing leases, (3)&#xA0;allows the customer to make certain specific equipment changes at the tower sites in exchange for an increase in monthly rental payment due from the customer, and (4)&#xA0;slightly modifies the existing monthly lease rates of certain leases. The customer&#x2019;s early termination rights are limited with respect to the aggregate number of leases that may be terminated and the number that may be terminated in any quarter. The specific leases to be terminated early and the timing of such terminations has not been determined as of the date of this filing. As a result, for accounting and financial statement purposes, the Company has made assumptions with regard to the leases to be terminated and the timing of the terminations. The Company has assumed that the customer will terminate the maximum number of leases allowable in each quarter, selecting the highest rental rate leases at the earliest allowable dates. The Company believes that these assumptions will ensure that only the minimum known revenue for the pool of leases covered by the Master Agreement will be accrued on a straight-line basis. The Company&#x2019;s balance sheet and statement of operations reflect these assumptions. The actual leases that the customer terminates and the timing and number of terminations may or may not be those that we have identified in our assumptions. The Company will monitor actual results and elections under the Master Amendment and record any differences from previously made assumptions on a quarterly basis. To the extent that the actual results materially differ from the assumptions made, the Company will disclose the impact of these adjustments.</font></p> </div>
CY2012 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
40433000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
340914000
CY2012 us-gaap Line Of Credit Facility Revolving Credit Conversion To Term Loan Description
LineOfCreditFacilityRevolvingCreditConversionToTermLoanDescription
(1) a ratio of Consolidated Total Debt to Annualized Borrower EBITDA not to exceed 6.0 times for any fiscal quarter, (2) a ratio of Consolidated Total Debt and Net Hedge Exposure (calculated in accordance with the Senior Credit Agreement) to Annualized Borrower EBITDA for the most recently ended fiscal quarter not to exceed 6.0 times for 30 consecutive days and (3) a ratio of Annualized Borrower EBITDA to Annualized Cash Interest Expense (calculated in accordance with the Senior Credit Agreement) of
CY2012 us-gaap Cost Of Revenue
CostOfRevenue
187000
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
12870000
CY2012 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
2296000
CY2012 us-gaap Asset Retirement Obligation Liabilities Incurred
AssetRetirementObligationLiabilitiesIncurred
2261000
CY2012 sbac Convertible Notes Conversion Criteria Associated With Common Stock And Convertible Notes Trading Price
ConvertibleNotesConversionCriteriaAssociatedWithCommonStockAndConvertibleNotesTradingPrice
Trading price per $1,000 principal amount of the Notes for each day in the measurement period was less than 95% of the product of the last reported sale price of Class A common stock
CY2012 sbac Total Fair Value Of Shares Vested
TotalFairValueOfSharesVested
9000000
CY2012 sbac Disposal Group Including Discontinued Operation Lease Revenue
DisposalGroupIncludingDiscontinuedOperationLeaseRevenue
5046000
CY2012 sbac Number Of Customers
NumberOfCustomers
5 Customer
CY2012 sbac Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodWeightedAverageGrantDateFairValue
12.58
CY2012 sbac Business Acquisition Contingent Consideration Expense Total
BusinessAcquisitionContingentConsiderationExpenseTotal
800000
CY2012 sbac Weighted Average Number Basic Diluted Shares Outstanding
WeightedAverageNumberBasicDilutedSharesOutstanding
120280000 shares
CY2012 sbac Potential Obligations To Pay Additional Consideration Recorded In Accrued Expenses
PotentialObligationsToPayAdditionalConsiderationRecordedInAccruedExpenses
9800000
CY2012 sbac Long Term Lease Extensions
LongTermLeaseExtensions
9700000
CY2012 sbac Non Cash Compensation Capitalized To Fixed And Intangible Assets
NonCashCompensationCapitalizedToFixedAndIntangibleAssets
200000
CY2012 sbac Non Cash Compensation Expense Related To Selling General And Administrative
NonCashCompensationExpenseRelatedToSellingGeneralAndAdministrative
13781000
CY2012 sbac Noncash Interest Expense
NoncashInterestExpense
70110000
CY2012 sbac Number Of Shares Vested Forfeitures And Cancelled
NumberOfSharesVestedForfeituresAndCancelled
9000 shares
CY2012 sbac Company Owned Tower Sites
CompanyOwnedTowerSites
17491 Tower
CY2012 sbac Number Of Towers Acquired
NumberOfTowersAcquired
6630 Tower
CY2012Q2 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
-93998000
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-53472000
CY2012 sbac Site Development
SiteDevelopment
107990000
CY2012 sbac Total Unrecognized Compensation Expense Related To Unvested Restricted Stock
TotalUnrecognizedCompensationExpenseRelatedToUnvestedRestrictedStock
9100000
CY2012 sbac Total Cost Of Non Cash Compensation Included In Loss Before Provision For Income Taxes
TotalCostOfNonCashCompensationIncludedInLossBeforeProvisionForIncomeTaxes
13968000
CY2012 sbac Net Operating Tax Loss Carry Forward From Stock Options
NetOperatingTaxLossCarryForwardFromStockOptions
152900000
CY2012 sbac Valuation Allowance Relating To Federal Carryover
ValuationAllowanceRelatingToFederalCarryover
4400000
CY2012 sbac Valuation Allowance Relating To State Tax Credit Carryover
ValuationAllowanceRelatingToStateTaxCreditCarryover
400000
CY2012 sbac Towers And Related Intangible Assets Acquisitions
TowersAndRelatedIntangibleAssetsAcquisitions
2205859000
CY2012 sbac Total Unrecognized Compensation Cost Related To Unvested Stock Options
TotalUnrecognizedCompensationCostRelatedToUnvestedStockOptions
17500000
CY2012 sbac Share Based Compensation Arrangement By Share Based Payment Award Non Cash Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonCashCompensationCost
200000
CY2012 sbac Discretionary Matching Contribution Employees Contribution
DiscretionaryMatchingContributionEmployeesContribution
3000
CY2012 sbac Earnouts
Earnouts
5931000
CY2012 sbac Equity Component Related To Repurchases Of Convertible Debt
EquityComponentRelatedToRepurchasesOfConvertibleDebt
41569000
CY2012 sbac Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Number Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedNumberVestedInPeriod
718000 shares
CY2012 sbac Convertible Notes Conversion Criteria Associated With Common Stock Trading Price
ConvertibleNotesConversionCriteriaAssociatedWithCommonStockTradingPrice
The last reported sale price of the Company's Class A common stock for at least 20 trading days in the 30 consecutive trading day period ending on the last trading day of the preceding calendar quarter is more than 130% of the applicable conversion price per share of Class A common stock on the last day of such preceding calendar quarter
CY2012 sbac Condition To Participate In Defined Contribution Plan
ConditionToParticipateInDefinedContributionPlan
Employees have the opportunity to participate following completion of three months of employment and must be 21 years of age.
CY2012 sbac Increase In Accounts Payable And Accrued Expenses For Capital Expenditures
IncreaseInAccountsPayableAndAccruedExpensesForCapitalExpenditures
10166000
CY2012 sbac Income Tax Reconciliation Convertible Debt Interest Expense And Cancellation Of Debt Income
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CY2012 sbac Amount Of Income Tax Recognized In Earnings
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CY2012 sbac Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited Or Canceled Weighted Average Grant Date Fair Value
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